Marilyn Geewax

U.S. Airlines Forecast a Sunnier Summer

Marilyn Geewax — Thu, 16 May 2013 19:09:00 +0000

After a long bumpy ride that started five years ago, the domestic airline industry seems to be pulling up and smoothing out.

The number of passengers planning to fly this summer will tick up 1 percent from 2012, climbing back to the highest level since 2008, an industry group said Thursday.

The airlines' profit outlook is also brighter, as jet fuel prices have settled down a bit.

Comp Time Or Cold Cash. Which Would You Pick?

Marilyn Geewax — Mon, 13 May 2013 15:12:00 +0000

Overtime or comp time? Which one suits you best?

Both you and your boss may agree it would be best for you to work a sixth day when a big project is due in March, and then take off for a long weekend in June. No big deal.

But under the Fair Labor Standards Act of 1938, private employers must pay time and a half to workers who put in more than 40 hours on the job in any one week.

In most cases, workers are eager to get that overtime pay.

Flight Delays Push Congress To End Controller Furloughs

Marilyn Geewax — Fri, 26 Apr 2013 17:38:00 +0000

The U.S. Congress — a body not exactly known for its swift feet — raced Friday to complete legislation to help travelers avoid delays at airports.

The House voted 361-41 to approve legislation that the Senate passed without objection late Thursday.

Still In The Middle Class, But Standing On A Banana Peel

Marilyn Geewax — Thu, 25 Apr 2013 19:01:00 +0000

Most U.S.

Airport Delays Raise Questions About Controller Furloughs

Marilyn Geewax — Mon, 22 Apr 2013 21:28:00 +0000

Some air travelers faced delays Monday as furloughs of air traffic controllers began taking effect.

The Federal Aviation Administration said that with fewer eyes on the skies, it was forced to delay some flights.

An Exploration Of The Changing Lives Of Women

Marilyn Geewax — Sun, 21 Apr 2013 16:47:00 +0000

Many revolutions begin with the sound of explosions and marching boots.

Now, another revolution is shaking up the world, and it's moving forward to the beep of alarm clocks and the clack of heels heading out.

Legions of women around the world are leaving their homes to join the paid labor force.

Tax Tips for Procrastinators, And You Know Who You Are

Marilyn Geewax — Sun, 14 Apr 2013 11:28:00 +0000

Still haven't filed your taxes, eh?

Well, you have until 11:59 p.m. Monday to get it all done — or at least file for an extension that gets you off the hook until Oct. 15. To help all of you procrastinators, here are answers to a few of your questions.

If I'm filing by mail, can I come skidding into the post office at 11:58 p.m. and still make the deadline?

Maybe — depending on where you live. Most post office locations will keep regular hours; some will stay open until 7 p.m. or 8 p.m. to make sure tax returns get postmarked before midnight.

U.S. Job Growth Slows As Jobless Face Benefit Cuts

Marilyn Geewax — Fri, 05 Apr 2013 14:43:00 +0000

The 11.7 million Americans searching for work got discouraging news Friday morning when the Labor Department said employers created only 88,000 jobs in March. The weak job growth comes at the same time benefits for the long-term unemployed are shrinking.

The smaller-than-expected increase in payrolls was a big disappointment, coming after a long stretch of much better results.

Cheap Natural Gas Pumping New Life Into U.S. Factories

Marilyn Geewax — Thu, 28 Mar 2013 11:16:00 +0000

The millions of Americans who lost factory jobs over the past decade may find this hard to believe, but U.S. manufacturing is coming back to life.

The chest compressions are applied by the pumping of cheap, domestic natural gas.

"We are entering a new era," says economist Jerry Jasinowski, a former president of the National Association of Manufacturers, a trade group. He and other optimists are cheered by the increase in industrial production, which has grown at a 5 percent annualized rate since the Great Recession ended.

You Be The Judge: Is The Housing Market Really Improving?

Marilyn Geewax — Thu, 21 Mar 2013 16:29:00 +0000

This week, optimists had no trouble finding fresh evidence to suggest that the housing market is recovering.

On Thursday, they learned from a Realtors' report that existing home sales hit the highest level in more than 3 years.

Why The Crisis In Cyprus May End Up Hurting You Too

Marilyn Geewax — Mon, 18 Mar 2013 20:15:00 +0000

Ask Americans to point out Cyprus, and most would have to spin a globe several times before noticing the small island nation, east of Greece and south of Turkey.

But whether or not you have ever given a thought to the 1.1 million people living there under the warm Mediterranean sun, Cyprus might send a chill up your spine this week.

That's because a Cypriot banking crisis has the potential to disrupt global financial systems, which are still trying to recove

5 Things The Jobs Report Tells Us About The Economy (Or Not)

Marilyn Geewax — Fri, 08 Mar 2013 18:59:00 +0000

If you enjoy having a good argument, Friday's report on the labor market gives you plenty to chew over. Find a debate partner and let's get started.

First, these are the facts: The Labor Department data showed February was a good period for job creation. During the short, cold month, employers added 236,000 jobs — far more than the 160,000 most economists had been predicting.

Economists See Budget Cuts Putting The Recovery At Risk

Marilyn Geewax — Wed, 27 Feb 2013 17:15:00 +0000

Getting economists to agree with each other isn't easy. But Congress and the White House have managed to unite them.

More than 95 percent of top U.S.

Surely Congress Would Know Better Than to Hurt Airlines. No?

Marilyn Geewax — Thu, 21 Feb 2013 22:31:00 +0000

Those baggage fees, cramped seats and tiny pretzel bags to the contrary and notwithstanding, airline passengers enjoyed good times in 2012, according to an annual recap from Airlines for America, the industry trade group.

Last year was good because no U.S. commercial airline crashed, nearly 82 percent of flights arrived on time and only about three bags were mishandled for every 1,000 domestic passengers. Back in 2007, only 73.4 percent of flights were on time and seven bags were lost for every 1,000 travelers. Average fares ticked up, but only by a few dollars.

How The American-US Airways Merger Might Affect You

Marilyn Geewax — Thu, 14 Feb 2013 16:15:00 +0000

American Airlines and US Airways on Thursday announced they plan to merge to create the country's largest airline, with a route network stretching from coast to coast, and covering large swaths of Latin America, Europe, Canada, the Caribbean and Africa.

The merger would knit together American's parent company, Fort Worth, Texas-based AMR Corp., and Tempe, Ariz.-based US Airways Group Inc. to form a new company worth about $11 billion.

Obama's Call For Higher Minimum Wage Could Have Ripple Effect

Marilyn Geewax — Wed, 13 Feb 2013 19:52:00 +0000

So maybe the Great Recession really is over.

After more than five years of recession and painfully slow recovery, President Obama has sent a powerful signal that he thinks the U.S. economy is now in much better shape — good enough, at least, to provide workers with raises.

In his State of the Union address Tuesday night, Obama called upon Congress to boost the federal minimum wage to $9 an hour by 2015, up from the current $7.25.

With Gasoline Prices Rising, Consumers Are Having A Tough Year

Marilyn Geewax — Wed, 06 Feb 2013 16:55:00 +0000

Business leaders involved in homebuilding, oil drilling or automaking are happy about the way 2013 has kicked off. Lower- and middle-income consumers, on the other hand, are feeling like the year has kicked them in the head.

"Consumers have not rebounded with the arrival of the new year," says Ed Farrell, director of consumer insight at the Consumer Reports National Research Center.

Jobs Still Lag, But Homebuilding May Soon Help

Marilyn Geewax — Fri, 01 Feb 2013 15:57:00 +0000

Here in the depths of winter, U.S. economic numbers aren't looking so hot.

Transportation Secretary: Duration Of Dreamliner Review Is Unknown

Marilyn Geewax — Wed, 23 Jan 2013 22:57:00 +0000

If you were dreaming of flying soon in a Boeing 787 Dreamliner, you have to wake up: Federal Aviation Administration isn't rushing its review of the grounded aircraft.

"We need to get to the bottom of the recent issues with the batteries in the 787 and ensure their safety before these aircraft can be put back in service," U.S.

Three New 'Cliffs' Threaten The Economy

Marilyn Geewax — Thu, 10 Jan 2013 17:00:00 +0000

Maybe you were hoping you'd never hear the phrase "fiscal cliff" again after Congress passed legislation Jan. 1 to address that tax-break-expiration deadline.

Sorry.

Three more cliff-type deadlines are fast approaching. They involve: 1) raising the federal debt ceiling 2) modifying automatic, across-the-board spending cuts and 3) funding the government to avert a shutdown.

The deadlines all hit between Valentine's Day and Easter, which means new rounds of chaotic congressional negotiations may start up just after the Jan.

As 2013 Begins, A 'Pretty Positive' Job Outlook

Marilyn Geewax — Fri, 04 Jan 2013 19:40:00 +0000

If you're searching for work in this new year, the Labor Department's final jobs report for 2012 suggests: The trend is your friend in 2013.

The jobs outlook is actually "pretty positive," said John Challenger, chief executive officer of Challenger, Gray & Christmas, an employment consulting firm.

Challenger said that, after 34 straight months of job growth, the positive trend is well established and likely to continue.

The Phantom Tax That Made The Deficit Look Better

Marilyn Geewax — Thu, 03 Jan 2013 20:20:00 +0000

As Americans continue to sort out the contents of the fiscal cliff legislative package passed by Congress Tuesday, they are finding elements they like and some they hate.

There's one exception. Everyone is glad Congress finally found a permanent fix for the alternative minimum tax.

That one portion of the U.S. tax code — always intended to affect only very wealthy people — had turned itself into a dreaded stalker.

Economists See (OK-ish) Growth In 2013

Marilyn Geewax — Wed, 02 Jan 2013 18:37:00 +0000

Suddenly, the new year is looking a bit brighter — at least in the eyes of most economists and investors.

On Day 1 of 2013, Congress voted to veer away from the "fiscal cliff" by passing a package of provisions that avoided broad tax hikes and big spending cuts.

The 2012 Economy Brought Glad Tidings To Many

Marilyn Geewax — Mon, 24 Dec 2012 16:30:00 +0000

After years of recession and slow recovery, maybe you didn't notice. But it turns out, 2012 was a fairly good year for the U.S. economy.

The Standard & Poor's 500-stock index has risen nearly 14 percent this year and the unemployment rate has fallen to 7.7 percent, the lowest point in four years. Inflation and interest rates have stayed low, allowing families to cut their debt loads.

"Consumers are feeling better now," said Nariman Behravesh, chief economist for IHS Global Insight, a forecasting firm.

Investors Shun Gun Makers As Gun-Control Talk Increases

Marilyn Geewax — Mon, 17 Dec 2012 23:31:00 +0000

(Scroll down for a Tuesday morning update.)

On Wall Street, investors appear to be listening closely to the growing talk in Washington about curbing assault weapons.

Share prices for gun makers were down when the stock market closed Monday, on an otherwise positive trading day. The S&P 500 Index, a broad measure of stock performance, was up nearly 1.2 percent, but shares of Smith & Wesson Holding Corp. tumbled 5.2 percent, to $8.65.

Fiscal Cliff Calendar: What Happens When

Marilyn Geewax and Greg Henderson — Tue, 11 Dec 2012 16:49:00 +0000

As weary as many Americans grew of campaign commercials last month, they may be getting even more annoyed this month by endless talk of the fiscal cliff, the massive collection of tax increases and spending cuts set to take effect at year's end.

It's easy to understand the urge to stick fingers in ears and loudly chant "la-la-la-la." The budget problems are indeed complicated, and the negotiations tedious.

But resolving the mess is extremely important: Without a solution, every person who gets a paycheck or has investments will see his or her taxes rise.

And if the stalemate were to ling

A Good Jobs Report Might Be Bad For The Jobless

Marilyn Geewax — Fri, 07 Dec 2012 17:02:00 +0000

The Labor Department's glad tidings Friday about the uptick in job creation last month might morph into bad news next month for many of the long-term unemployed.

That's because the boost in November hiring, with employers adding 146,000 jobs, might make it more difficult for Democrats to argue in favor of having Congress renew the extension of benefits for people out of work more than six months.

As things stand, four in 10 Americans who receive unemplo

Red Alert: Aerospace Industry Counts Down to Cutbacks

Marilyn Geewax — Wed, 05 Dec 2012 22:05:00 +0000

It's red alert time for aerospace industry executives, workers and contractors.

As they mingled today at the Aerospace Industries Association's annual Year-End Outlook luncheon at a Washington Grand Hyatt, the bright red electronic digits kept counting down for them.

The ever-changing figures on the large digital clock, set up on the ballroom stage, reminded the roughly 300 luncheon participants of the time left before they feel the effects of massive, au

A Jolly Christmas? Retailers Count The Extra Days

Marilyn Geewax — Mon, 26 Nov 2012 21:19:00 +0000

For merchants, the stars are lining up — at least so far.

Online shopping jumped more than 28 percent on Cyber Monday compared with a year ago, according to IBM Benchmark. And the National Retail Federation says Thanksgiving weekend spending shot up to $59.1 billion, nearly 13 percent more than last year's $52 billion.

Fortunately for retailers, those good numbers may keep coming because the heavens have lined up in such a way that the 2012 calendar "is a real plus," says Chris Christopher, an economist with IHS Global Insight, a forecasting firm.

How the Alternative Minimum Tax Could Slam You

Marilyn Geewax — Tue, 13 Nov 2012 17:36:00 +0000

Seriously, again?

Anyone who follows the adventures of the alternative minimum tax has to be getting sick of the many sequels. Again and again, this unpopular income tax threatens to hit middle-class families with large and unexpected tax increases.

And each time the threat reappears, Congress applies a "patch" to fix the problem temporarily. That makes the threat an annual event — along with the associated congressional hand-wringing and taxpayer confusion.

So here we are again, with the AMT looming over about 27 million more taxpayers this year.