Archive for Thursday, August 23, 2001


August 23, 2001


Earnings: Analysts expect profits among airlines to dive

While airlines have had some success this summer in luring leisure travelers with inexpensive fares, they have not been able to bring back their disappearing profits.

Revenue from domestic air travel fell by more than 10 percent in July the third monthly decline in a row. Analysts believe major carriers will report wider net losses than previously expected for the third quarter, which is historically a robust season for the airlines.

Trucking: Roadway Corp. to pay $475 million for firms

The parent company of the Roadway Express trucking operation has agreed to pay $475 million for the jointly owned New Penn Motor Express and Arnold Transportation trucking firms.

Roadway Corp. announced Wednesday it approved the deal with the board of Arnold Industries Inc. of Lebanon, Pa.

The agreement, expected to be completed by Dec. 31, is subject to shareholder and regulatory approval.

Investigation: Florida checks out potency at GNC

Florida authorities are investigating whether the General Nutrition Centers health food chain sells vitamins that may not be as potent as the label claims because they've been sitting on shelves too long.

Acting on a tip, investigators for the state attorney general's office said they bought products at GNC stores in Florida.

"There was a bunch of out-of-date stuff on the shelf," Assistant Attorney General Lisa Raleigh said.

Pittsburgh-based GNC voluntarily puts "best by" dates on its products, spokesman Gregory Williams said.

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