Northwest To Be Airborne Again

Author:
Publish date:

Northwest Airlines

(NWAC)

, weighed down by a pilots strike since Saturday, reported its revenue passenger miles fell 11.6% in August. The fourth-largest U.S. airline said the systemwide passenger load factor fell to 79.3%, down from 80.1% in the year-ago period. Earlier this afternoon, Transportation Secretary

Rodney Slater

told the airline that by Tuesday its commuter affiliates must resume flying to areas that are without air service.

Ahead of tonight's meeting with

Federal Reserve

Chairman

Alan Greenspan

and Japanese Finance Minister

Kiichi Miyazawa

, Treasury Secretary

Robert Rubin

, aboard a flight to San Francisco, told reporters that he expects to be briefed on Tokyo's plans to reform its banking sector and boost domestic demand. Rubin said recent global-market instability "heightens the importance of Japan getting back on track."

In other postclose news (earnings estimates from

First Call

):

Earnings/revenue reports and previews

JumboSports

(JSI)

posted a second-quarter loss of 94 cents per share, including a $15.2 million loss from asset disposition, compared with the year-ago loss of 9 cents. First Call did not have an estimate for the company.

Offerings and stock actions

Dycom

(DY) - Get Report

filed with regulators for an offering of 3 million shares.

Comings and goings

Valence Technology

(VLNC)

said its CFO, David Archibald, resigned.

Integrated Measurement Systems

(IMSC)

appointed Fred Hall CFO, replacing Sar Ramadan, who resigned in July.