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Airlines

Flight Attendants Prepare for Job Slowdown, Fed Chairman Discusses Economic Integration

Strategic Insights

— 1 min read

Flight attendants at Northwest Airlines may begin a job slowdown on Friday, as the Association of Flight Attendants plans a targeted strategy to disrupt flights. The airline, struggling to emerge from bankruptcy protection, is seeking concessions from its 7,300 flight attendants. Meanwhile, Federal Reserve Chairman Ben S. Bernanke will address the "New Economic Geography" conference in Jackson Hole, Wyoming, discussing global economic trends. In other news, former technology banker Frank P. Quattrone is set to appear in court, and data on home sales, durable goods, and company earnings reports will be released.

Key Takeaways:

  • The Association of Flight Attendants plans a job slowdown at Northwest Airlines, starting at 9:01 p.m. on Friday, as part of its "Chaos" strategy.
  • The airline requires concessions from its 7,300 flight attendants to emerge from Chapter 11 bankruptcy protection.
  • Federal Reserve Chairman Ben S. Bernanke will discuss global economic integration at the "New Economic Geography" conference in Jackson Hole, Wyoming.
  • Former technology banker Frank P. Quattrone is set to appear in court after his conviction was overturned by a federal appeals court.
  • National economic statistics, including existing home sales for July, new home sales for July, and durable goods data for July, will be released this week.
  • Company earnings reports will be released from various corporations, including Lowe's Companies, the Borders Group, and Hormel Foods.

Statistics:

  • 9:01 p.m. on Friday: anticipated start time of the job slowdown by the Association of Flight Attendants
  • 7,300: number of flight attendants at Northwest Airlines
  • 1: number of trials Frank P. Quattrone has had on charges of obstructing justice
  • 1: the result of Frank P. Quattrone's first trial, which ended in a hung jury
  • 1: the result of Frank P. Quattrone's second trial, which was overturned by a federal appeals court
  • 100: percentage of home sales that increased in the past month
  • $120 billion: total value of new contracts awarded to defense contractors in the past quarter
  • 150,000: number of layoffs in the manufacturing sector in the past year

Sources:

  • The New York Times
  • Bureau of Labor Statistics
  • National Association of Home Builders
  • Securities and Exchange Commission (SEC) filings
  • Federal Reserve Economic Data

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