Free Republic

On Sept. 12, 2001, there were no commercial flights in the United States. It was uncertain when airlines would be permitted to start flying again—or how many customers would be on them. Airlines faced not only the tragedy of 9/11 but the fact that economy was entering a recession. So almost immediately, all the U.S. airlines, save one, did what so many U.S. corporations are particularly skilled at doing: they began announcing tens of thousands of layoffs. Today the one airline that didn't cut staff, Southwest, still has never had an involuntary layoff in its almost 40-year history. It's now...

Wal-Mart profit misses forecast; outlook weak CHICAGO (Reuters) - Wal-Mart Stores Inc. on Thursday reported a weaker-than-expected profit and said second-quarter results would miss Wall Street forecasts as steep energy prices and cool, wet weather cut spring sales. Shares of Wal-Mart, which said gasoline prices would continue to curb consumer spending in the current quarter, fell 4 percent in premarket trading. The world's biggest retailer said it expects trends to improve in the second half and remained optimistic about the U.S. economy. "Our results were not up to Wal-Mart standards," Chief Executive Officer Lee Scott said on a recorded message,...