Continental Airlines cuts fall faresContinental Airlines...

BUSINESS DIGEST

September 07, 1994

Continental Airlines cuts fall fares

Continental Airlines announced yesterday that it is cutting one-way fall fares by up to 52 percent on domestic and some international flights.

Tickets for the sale must be bought between today and Sept. 16. The fares are good for travel between Sept. 21 and Dec. 14, with the exclusion of Nov. 23, 27 and 28. Thanksgiving is Nov. 24.

Continental's sale requires that round-trip tickets be purchased within 24 hours of making a reservation. The tickets are nonrefundable and a Friday or Saturday night stay is required. Baltimore-Washington International Airport and National Airport are served by Continental.

August better for automakers

The major automakers shook off some of the inventory problems that produced a flat July and finished August with sales of cars and light trucks 10.3 percent ahead of a year ago.

General Motors Corp. reported its August car sales were 18 percent ahead of last year, and truck truck sales nearly 15 percent. Ford Motor Co.'s car sales were down 9.4 percent from August 1993 and Chrysler Corp.'s were down a fraction, but strong truck sales kept both from losing ground.

Union Memorial center to expand

Union Memorial Hospital said yesterday that it expects to create a National Center for the Treatment of the Hand and Upper Extremity, as part of the hospital's Raymond M. Curtis Hand Center, after it receives a $1.2 million federal grant. The grant is part of an appropriations bill expected to pass the U.S. House and Senate next week.

Japan's car imports rise

Imports accounted for 10 percent of Japan's car market in August for the first time ever, the Japan Automobile Importers Association said yesterday. It said vehicle imports totaled 23,391 in August, up 70.3 percent from a year earlier.

Losing quarter for Wall Street

Wall Street posted its worst quarterly loss since the 1987 stock market crash, as trading profits and underwriting fees tumbled in the wake of this year's financial market plunge. The pretax loss at brokerage firms totaled $623 million in the second quarter, compared to a profit of $2.38 billion in the same period of 1993. Quarterly revenues dropped 8 percent to $16.43 billion from $17.95 billion.

P&G chairman's bonus cut

Procter & Gamble Co. Chairman Edwin L. Artzt gave up $100,000 of his bonus this year because of the company's $157 million loss in soured investment deals, P&G said yesterday. His salary and bonus still totaled $2.29 million.

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