Business briefs: Deal may cost airlines landing slots

Deal may cost airlines landing slots

American Airlines and British Airways may have to give up airport landing slots if they want to receive anti-trust immunity from the European Commission. According to London’s Financial Times newspaper, the proposed alliance between the airlines is "likely to result in appreciable competitive harm" on seven trans-Atlantic routes. Citing commission documents, the newspaper said the routes include Dallas-London, along with flights between London and New York City, Boston, Miami and Chicago. The last time American and BA sought antitrust exemption, the commission asked them to give up landing times, or slots, at London Heathrow Airport. Instead, the airlines chose to withdraw their application.

— Andrea Ahles

Dallas bank expands to Fort Worth

Dallas-based Community Trust Bank of Texas, not to be confused with Granbury-based Community Bank, said Monday that it has expanded to Fort Worth with a branch at West Seventh Street and University Drive. Grant H. James, who had been executive vice president of Bank of Texas, formerly Worth National Bank, will serve as president of the bank’s Tarrant County operations, it said. "This is a bank that avoided the pitfalls of subprime loans, relying instead on responsible business practices that serve its customers and communities for the long term," James said. — Barry Shlachter

Missouri UAW members reject Ford contract

Autoworkers in Missouri overwhelmingly rejected a new contract with Ford Motor Co., a sign that the automaker and the United Auto Workers union are having trouble persuading some workers to accept changes that would lower Ford’s labor costs. Ninety-two percent of workers at the Kansas City Assembly Plant voted Sunday against changes to their contract. The plant, which makes Ford F-150 pickups as well as the Ford Explorer and Mercury Mariner, employs around 3,700 people, or about 9 percent of Ford’s 41,000 UAW members. Ford and the UAW agreed to make changes to their 2007 labor agreement two weeks ago, bringing Ford in line with labor cost cuts already agreed to at General Motors Co. and Chrysler LLC. — The Associated Press

Pentagon chief auditor is reassigned

The Pentagon’s chief auditor was forced from her post Monday following sharp criticism from lawmakers over failures to hold defense contractors accountable for overcharges and poor performance. April Stephenson, director of the Defense Contract Audit Agency since February 2008, has been reassigned to another position inside the Pentagon and replaced by a senior civilian Army official, according to internal e-mail messages. While the Defense Department cast the shift as a desire to bring a fresh perspective to an organization crucial to stemming waste and fraud in military spending, mounting concern on Capitol Hill with the agency’s management practices and independence was a major factor in the decision. — The Associated Press

Verizon earnings down from year ago

Verizon Communications, the nation’s second largest phone company, earned $1.18 billion, or 41 cents a share, in the third quarter, compared with $1.67 billion, or 59 cents a share, a year ago. Revenue from landlines fell 4.8 percent while wireless services, including cellphones and data plans, were up 24.4 percent thanks largely to its January purchase of Alltel Corp. — The Associated Press

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