Transportation
US Airways Sues Pilot Union
US Airways Group Inc. has sued its pilot union after the union’s efforts to slow down its operations, causing cancellations and delays, to force US Airways into a contract negotiation with the union. The US Airline Pilots Association (USAPA) is allegedly encouraging a work slowdown, according to US Airways’ court filings. There had been some precedents in the industry, as United Airlines in 2009 won a lawsuit, where the court barred the union from a work slowdown. Typically, unions are not allowed to disrupt work until their contract expires.
Transportation
Chevrolet Dealers Adding Solar-Powered Stations
Chevrolet dealers are installing solar panel-powered charging stations for Chevrolet Volt hybrid electric vehicles, according to the company. Dubbed the “Green Zone,” the effort is part of parent company General Motors’s plan to raise awareness regarding its green efforts, following its recent investment in Sunlogics, a company, which specializes in solar panels. “The Chevrolet Green Zone will provide our U.S. dealers with added flexibility when it comes to charging their vehicles, while also reinforcing GM’s commitment to renewable energy projects,” said Chris Perry, Chevrolet’s global marketing chief, in a statement. Al Serra Auto Plaza in Grand Blanc, Mich., and American Chevrolet in Modesto, Calif., are the first two dealers to install the solar charging stations.
Financial Services
US Regulators Close Three More Banks
The Federal Deposit Insurance Corporation (FDIC) last Friday closed three additional banks, bringing the total count of bank failures in the United States to 61. The largest of the three failed banks was Integra Bank NA of Evansville, Ind. Integra had $1.9 billion in deposits and had 52 branches, and it will be bought by Old National Bancorp. The other two banks that closed are BankMeridian NA of Columbia, S.C., and Virginia Business Bank of Richmond, Va. Both banks are relatively small. Most of this year’s bank failures are of small community banks, which have small deposit bases to weather the recession, and have suffered greatly from weakness in the commercial mortgage sector. This year should see the fewest number of bank failures since the financial crisis. In 2010, 157 banks failed, while 140 bank failures were reported in 2009.
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