In Wednesday's Americas papers

16 May 2007 13:34  [Source: ICIS news]

THE WALL STREET JOURNAL

Front Page

 

Texans bet big on snowless summer skiing

A group of investors plan to build a 25-story mountain in Texas with year-round, outdoor skiing and snowboarding. The Bearfire Resort is the latest venture to make a giant bet on defying nature in wildly improbable places.

 

As pay falls, airlines struggle to feel jobs

Airlines used to offer prestigious jobs with good wages and coveted flight benefits. Now, a growing number of airline jobs are more akin to those at a fast-food restaurant. The pay is low, the work is tough and, in a new twist, airlines are having trouble hanging onto workers and finding new ones.

 

Colonial-era ties to Africa face reckoning

The election of French President Nicolas Sarkozy could mean the end to the "African Cell." For half a century, the secretive Cell has overseen France's strategic interests in Africa

 

Money & Investing

 

Why investors are plugging in to Calpine

Calpine's stock has rallied as investors bet that the power generator, which is operating under bankruptcy-court protection, will benefit from pared debt, environmental advantages and speculation of buyout interest.

 

Greenspan to advise Pimco's gross

Greenspan signed up Pimco as his first client since leaving the Fed to return to his roots as an economic consultant.

 

Nymex may rue a bet on Optionable

Nymex, known for its savvy traders, is facing a roughly $20m (€14.7m) loss in an investment it made in tiny energy brokerage Optionable.

 

THE NEW YORK TIMES

Front Page

 

President intervened in dispute over eavesdropping

President Bush stepped in after top officials threatened to resign over the NSA’s domestic spying program, according to testimony.

 

Poppy fields are now a front line in Afghanistan war

Until recently, US officials admit, fighting drugs was considered a distraction from fighting terrorists.

 

Business Day

 

Tyco to pay $3bn to settle investor law suits

Tyco International, whose two top executives were imprisoned for fraud, has agreed to pay almost $3bn (€2.2bn) to settle class-action lawsuits brought by investors, the company announced yesterday.

 

Now departing: airline careers

Workers at many airlines have been forced to take huge pay cuts in recent years, and they have watched 100,000 or so of their colleagues lose their jobs.

 

THE WASHINGTON POST

Front Page

 

Bush taps troop boost sceptic as 'war czar'

In newly created position, Army Lt. Gen. Douglas E. Lute will coordinate often disjointed military and civilian operations in Iraq and Afghanistan.

 

Sparks fly at 2nd GOP debate

Presidential candidates poke at rivals over 9/11, abortion, "flip-flopping" and use of torture.

 

Business

 

In the business of buying and selling

Steven Pearlstein discusses DaimlerChrysler's agreement to sell to Cerberus Capital Management.

 

Bad news on condos

Foreclosures of condo conversion projects in Washington area are another sign of soft real estate market and oversupply of condos.

 

GLOBE AND MAIL, Canada

Front Page

 

Police probe video on how to disrupt trains

A video posted on YouTube offering detailed instructions for disrupting train traffic has triggered investigations by the police forces for Canada's two main rail lines, CP and CN.

 

Sarkozy takes helm in France

Nicolas Sarkozy was sworn in as French president on Wednesday and, in keeping with his pledge to get France working at home and in Europe, he prepared to fly immediately to Germany for a first quick official state visit.

 

Business

 

Canadian Pacific workers start strike

Canadian Pacific Railway Ltd. [CP-T] track maintenance workers went on strike at midnight Mountain time, a move likely to disrupt shipments.

 

Pursue EU pact, CEOs urge Harper

Business leaders want PM to kick-start discussions aimed at forging a new economic relationship that includes the potential for a free-trade agreement.

 

BUENOS AIRES HERALD

Front Page

 

A view from the bridge

The new Penobscot Narrows Bridge dwarfs a sailboat passing underneath yesterday in Prospect, Maine. An observatory with a 360-degree view is located at the top of the 126-metre-high pylon at right. It is the tallest occupied structure in Maine and the tallest bridge-top observatory in the world.

 

Santa Cruz teachers’ hopes high

Striking teachers in Santa Cruz waited in vain yesterday for an announcement of an expected pay hike from provincial Governor Daniel Peralta. Finally it transcended that Peralta had postponed saying anything on the subject until after a meeting with union leaders and officials of the Labour Ministry to take place today in Buenos Aires.

 

LAN crews ground fleet

Pilots and technicians of LAN Argentina went on strike yesterday causing the cancellation of all domestic flights operated by LAN. An end to the strike is not expected shortly with union leaders saying an attempt at negotiation has failed.

 

($1 = €0.74; $1 = C$1.10)

ICIS Copyright © Reed Business Information 2009

Author: Staff Reporter
+44 20 8652 3214

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