| Delta Fined For Not Providing Flight Arrival Data
Federal regulators fined Delta Air Lines $115,000 for failing to respond to customer requests for on-time arrival data of its flights. The Transportation Department ordered Delta to cease and desist from further offenses and assessed it the civil penalty for violations by several Delta Connection carriers, including Comair, Atlantic Southeast Airlines and SkyWest Airlines. The 20 largest passenger carriers report on-time performance to the government and must provide on-time arrival statistics when requested by passengers. Through September, more than 24 percent of flights have arrived late -- the industry's worst on-time performance since comparable data began being collected in 1995. After receiving information that some carriers were failing to respond to consumer requests for on-time arrival information of flights, the agency started an investigation that involved several hundred test calls to the reporting carriers.
City Takes Homeowner To Court Over $800,000 In Fines
The city of Winter Park is taking one of its residents to court to collect hundreds of thousands of dollars in code enforcement fines, but the property owner said city officials are ganging up on him and Tuesday a judge began hearing both sides of the dispute. SLIDESHOW: Images Of Winter Park Home, Homeowner In Tuesday's hearing, the city tried to get a jump start on foreclosing on the property, which doesn't look that bad on the surface, but they claim it's nearly a million dollars worth of mess. Just off Minnesota Avenue is where 81-year-old Bennie Ellis has lived for a half century. Now the city says they're fed up with 50 years of mess that's been building on Ellis' property and most of it, they claim, is storage for his locksmith and auto repair business, which is forbidden in a residential neighborhood.
Target
(TGT 52.88, -1.02) reported earnings that missed expectations, which took some wind out of Nordstrom's positive report. The company announced a $10 billion share repurchase program that helped mitigate some disappointment, but shares are currently trading noticeably lower. Currently, a bullish bias persists despite the mixed headlines. Nine of the ten economic sectors are in the green. The energy sector (2.8%) is providing leadership after Exxon Mobil (XOM 87.49, +3.38) was upgraded to Buy from Neutral at UBS. The rise in crude oil prices (+1.9% to $96.45) is also aiding in the sector's outperformance. The financial sector (-0.9%) stands alone in the red, as the Freddie Mac report is causing the thrifts & mortgages group (-16%) to get clipped. On the economic front, October housing starts were slightly better-than-expected, while building permits were slightly worse-than-expected.
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