Mexicana halts flights, including from SJC

Mexicana Airlines, which declared bankruptcy earlier this month, announced Friday it will cease all operations by midday Saturday.
That includes one daily flight between Mineta San Jose International Airport and Guadalajara, Mexico's second-largest city, located in the state of Jalisco.
The airline had stopped four weekly flights between San Jose and the city of Morelia, in the […]

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Taxpayers on the hook for $3 trillion in pensions

Even if the costly state pension system undergoes reform, taxpayers could get stuck with a hefty bill.
Under the current system, unfunded benefit liabilities – the amount states owe in promised retirement benefits beyond what they’ve collected — exceed $3 trillion.
But even moderate policy changes, which are highly controversial, would only trim that […]

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SoCal law firm opens in Oakland

A southern California law firm is expanding its Bay Area presence with the hire of 12 attorneys in Oakland from McDonough Holland & Allen P.C., which is disbanding.
Burke Williams & Sorensen LLP said it will bring on the 12 Oakland lawyers who specialize in public law, which involves counseling cities, counties or taxpayer-funded districts.
Burke Williams […]

Ford turnaround picks up speed

Ford Motor continued its successful turnaround as better-than-expected sales and profits easily outdistanced expectations and reversed the operating loss of a year ago.
The automaker earned $2.7 billion, or 68 cents a share, excluding special items. The consensus forecast of analysts surveyed by Thomson Reuters was for earnings of 40 cents a share, and Ford […]

Arizona secures $15.7 million broadband grants

Three Arizona entities secured $15.7 million in stimulus funding to expand the reach of broadband Internet services into rural communities.
The money was from about $795 million in grants announced today through programs at the U.S. Department of Commerce and Department of Agriculture.
The Arizona Office of Economic Recovery was given a $1.6 million grant to be […]

Supreme Cour tlifts ban on genetically engineered alfalfa

The U.S. Supreme Court lifted a ban on Monsanto Co.’s genetically engineered alfalfa ordered three years ago amid concern over contamination of conventional alfalfa fields.
The court’s 7-1 vote reverses a federal appeals court ruling. It opens the door for the Department of Agriculture to approve planting of the crop on an interim […]

Stocks set to slip after retail sales

U.S. stocks were set to slide Friday, after a downbeat May retail sales report was released before the bell.
Dow Jones industrial average, Nasdaq and S&P 500 futures were all lower.
Futures measure current index values against perceived future performance.
U.S. stocks closed with a pop Thursday as euro-zone concerns eased. The Dow (INDU), the […]

Duke Energy: Charlotte, Raleigh could be electric car hot spots

Southern California figures to be plug-in electric central when Chevy’s Volt and Nissan’s Leaf hit the market this year. But Duke Energy’s Mike Rowand sees surprising interest in the Carolinas and Midwest – including the Triangle.
Speaking at an electric-vehicle briefing Thursday, Rowand predicted that Charlotte and Raleigh will be among a dozen or so cities […]

Morgan Stanley shares fall on investigation reports

Shares of Morgan Stanley fell Wednesday following reports that U.S. federal prosecutors are looking into whether Morgan Stanley misled investors about complex mortgage derivatives it designed.
Citing people familiar with the matter, the Wall Street Journal said that investigators are scrutinizing Morgan’s so-called collateralized debt obligations, or CDOs.
Morgan Stanley (MS, Fortune 500) opened at $27.34 […]

Can’t afford health care? Wait ’til June

For millions of uninsured or underinsured Americans, health reform legislation will soon remove some of the barriers preventing them from getting the coverage they need.
The most immediate changes affecting those who don’t have health insurance, or are not buying enough insurance to meet their needs, start in about 81 days.
Many other longer term measures […]