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BNSF, union reach 5-year agreement
BNSF Railway said Thursday that it has reached a five-year agreement with the union representing locomotive engineers that covers wages and work rules beginning in 2010. Details were not made public pending their release by the Brotherhood of Locomotive Engineers and Trainmen to its members. The company statement disclosed that the agreement calls for a general wage increase in each year of the contract. — Bob CoxBuyout could harm Berkshire, agency warnsCHICAGO — Fitch Ratings is warning that Berkshire Hathaway’s deal for Burlington Northern Santa Fe could overexpose Warren Buffett’s company to weaknesses in the economy at the expense of its more durable investments. The agency put Berkshire Hathaway rating’s under review for a possible downgrade. Standard & Poor’s did the same Wednesday. — The Associated PressToyota’s recall info bad, NHTSA saysWASHINGTON — Toyota released misleading information about an investigation into problems with stuck gas pedals that led to a massive Toyota recall, the government said, stressing that the issue is still under review by federal safety regulators. The National Highway Traffic Safety Administration said it is still investigating the case and meeting with Toyota to hear about the company’s plan to redesign the vehicles. Toyota recalled 3.8 million vehicles last month over problems with gas pedals that got stuck on floor mats. Toyota said Monday that the NHTSA had confirmed "that no defect exists." But NHTSA said that was inaccurate. — The Associated Press Retail sales in October up slightlyOctober’s retail sales results, the best performance since April 2008, show that Americans are spending a little more. Sales at stores open at least a year rose 2.1 percent in October, according to the International Council of Shopping Centers-Goldman Sachs tally, compared with a 4.2 percent drop in October 2008. The October results beat estimates for a 1 percent gain and followed a surprising 0.6 percent increase in September. — The Associated PressUSAA expands membership eligibilitySAN ANTONIO — The military insurer USAA expects to double its pool of potential members by opening eligibility to all honorably discharged veterans, regardless of years of service. The firm announced that the change expands its potential customer base to an estimated 35 million people, including 18 million veterans and their spouses and children. — The Associated PressPlainsCapital delays IPO over market swingsDALLAS — PlainsCapital Corp. postponed its initial public offering, blaming market swings in financial stocks. PlainsCapital said it will hold off until the market improves. The company had hoped to sell 15 million shares to raise about $141.5 million and buy back its stock from the government. — The Associated PressProductivity up 9.5 percentWASHINGTON — Companies are finding ways to do more with fewer workers. Productivity rose at an annual rate of 9.5 percent in the July-September quarter, the Labor Department said. That was much better than the expected 6.4 percent gain. — The Associated Press
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