In June, 14 planes saw long waits on tarmac

More than a dozen planes sat on the tarmac for more than three hours in June, the government said Tuesday. It’s the second month in a row that the number of three-hour delays reached double digits since a government rule went into effect over a year ago aimed at limiting them.

The Department of Transportation said 14 planes were stuck on the tarmac for more than three hours in June. There were 16 such delays in May. There were only 20 in the year before that. The rule threatening millions of dollars in fines for delays of three hours or more was implemented in April 2010.

DOT hasn’t fined an airline for violating the rule because it says that none of the delays was serious enough to justify big penalties. Nearly all of them were caused by bad weather.

 

Auto industry expected to add more ‘green’ jobs

At least 155,000 auto industry jobs now exist in the United States devoted to fuel-efficient vehicle technologies, with that number likely to grow, according to a report released Tuesday by the United Auto Workers union and two environmental groups, the Natural Resources Defense Council and the National Wildlife Federation.

The new study found that more than 300 companies in 43 states and the District of Columbia are currently involved in manufacturing tied directly to clean and fuel efficient technologies. That number is likely to expand even more in the wake of recently announced fuel economy standards that would require a fleet average of 54.5 mpg by 2025.

 

Credit union agency suing Goldman Sachs over losses

The U.S. regulator of credit unions is suing Goldman Sachs for more than $491 million in damages over losses incurred by five failed wholesale credit unions that bought mortgage-backed securities from the investment bank.

The National Credit Union Administration filed the lawsuit on Tuesday in U.S. District Court in Los Angeles.

The federal regulatory agency claims Goldman Sachs misrepresented how risky the mortgage-backed securities it sold were.

The agency says that when the value of the securities plunged, that led the credit unions to fail.

 

Walmart ending sales of digital music Aug. 29

Walmart Stores Inc. is ending its digital music sales this month after seeing increased competition.

The world’s largest retailer confirmed Tuesday that it will stop selling MP3s as of Aug. 29. Customers who already bought music through its site may continue to use and manage their music there.

Walmart began selling digital music in 2003 to compete with Apple’s iTunes, which has become the largest seller of digital music. The company also faces tough competition from Amazon.com.

 

Growth at ESPN, parks helps Disney beat forecast

The Walt Disney Co. said Tuesday that its net income in the latest quarter rose 11 percent as growth at ESPN, its theme parks and consumer products businesses outweighed lackluster performance at its movie studio and interactive unit.

The results beat Wall Street expectations, but the boost to Disney’s fiscal third quarter came mostly because of the early booking of revenue at ESPN, which will result in an offsetting negative in its fiscal fourth quarter.

After gaining nearly 4 percent to $36.08 in extended trading, Disney shares reversed course, dropping 45 cents from the closing price, or 1.3 percent, to $34.25.

Disney said $228 million in fees from ESPN’s distributors was booked in the third quarter, after the company said in May that the fees would likely be booked in the fourth quarter.

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