WEDNESDAY, JULY 7, 2010
Flight restrictions at National targeted
national from A1
considerably. For the first time, regular nonstop air travel would expand from National to Los An- geles, San Francisco, Salt Lake City, Phoenix and other distant cities.
“If they want to fly into town,
let them come into Dulles,” said Denis O’Sullivan, who flew B-24 bombers in World War II and whose Arlington home is about a half-mile from National. But the airline industry and
Western lawmakers — such as Sens. John McCain (R-Ariz.) and Barbara Boxer (D-Calif.) — have sought the change for years. More service means more competition on long-distance routes and lower ticket prices for consumers, in- dustry officials say. It also would yield more rev- enue from cross-country passen- gers for an industry slowly re- bounding from high oil prices and a bad economy. “This is about fairness of access for passengers and travelers in the Western United States, who cur- rently have only 12 [round-trip] flights a day into National,” said James T. Olson, vice president for corporate communications for US Airways, the airport’s dominant carrier. Kate Folmar, a spokeswoman for Boxer, said the senator “has long supported increasing service between National and California cities, whether through the con- version of existing flight slots or by the addition of new slots.” Furious Virginia senators, joined by the regional airports au- thority and local civic groups, said they had been blindsided by back- door deals that would unravel a delicately crafted agreement to restrict air travel from National, just four miles from Capitol Hill. “For the process to go off track
like this in such a dramatic way is not right,” said Kevin Hall, spokesman for Warner, a member of the Senate Commerce Commit- tee who is scrambling to kill the plan. “There’s supposed to be a process that takes into account the wishes of the community and
the airport.” Opening the door
The McLean Citizens Associa- tion, which represents neighbor- hoods in McLean and adjoining communities, has fought to re- strict traffic out of National for years. Residents became more concerned after the Sept. 11, 2001, terrorist attacks, when pilots steering clear of the no-fly zone over the White House began to veer over neighborhoods west of the Potomac River. Chris Grootaert, who led the ef-
fort for the group and has fought airport noise issues for five years, said that the FAA has agreed to es- tablish a new route along the river but that the route is not yet in place. “The real danger is that this opens the door to adding more” flights at the airport, he said. “Congress and the communities around the airport have an agree- ment. Fiddling with that is a vio- lation of the trust that was part of that agreement. The moment you start fiddling, you open the door for more flights in the next appro- priations bill.”
Opponents of long-distance flights also say they put too great a burden on National’s limited parking. US Airways spokesman Olson and other airline officials said the new cross-country flights would not increase the total number by major airlines out of National. For every flight added beyond the pe- rimeter, a flight inside the perim- eter would be subtracted. And a trip to the Phoenix area — where US Airways is headquartered — will not necessarily require a larg- er aircraft than one to Charlotte, he said. Under current rules, takeoffs and landings at National are capped at a total of about 50 an hour. Exemptions granted since 2000 allow 12 round-trip flights a day beyond the 1,250-mile limit. The limit was initially set at 650 miles in 1966 and was extended gradually by Congress as demand for commercial air travel grew. The new rules would give ma-
DOMINIC BRACCO II FOR THE WASHINGTON POST Western lawmakers are driving the effort to raise the number of long-distance flights at Reagan National.
This map depicts current exemptions to the perimeter rule as well as increases in slots (permitted takeoffs and landings) awarded by Congress in recent years, some of which are inside the perimeter, some outside.
Seattle
Slot exemptions granted for air service
CANADA Detroit Salt Lake City Denver Las Vegas Angeles Los Phoenix
Pacific Ocean
THE WASHINGTON POST SOURCE: GAO
jor airlines an additional 48 flights a day to cities beyond the 1,250-mile flight limit. Low-cost and smaller airlines trying to gain a foothold at the airport could boost their service to Western cit- ies by 10 flights, shifting slots from unused early-morning and late-evening hours to daytime. Of the flights reserved for small carriers, four would have to offer service to two airports in West Texas, a provision introduced by Hutchison, the ranking minority member of the Commerce Com- mittee. “Many Western state and com- munities have long been inter- ested in direct service to Reagan National Airport and our nation’s
Markets rally, then run out of steam
by Frank Ahrens Stocks burst out of the gate
Tuesday morning in a somewhat surprising but welcome surge following last week’s big sell-off, but the rally ran out of steam by midafternoon and only a late push prevented an eighth con- secutive day of losses for in- vestors. Tuesday was all about bargain- hunting on Wall Street. Investors and traders bought up historical- ly strong stocks that suffered damage during last week’s dis- mal run. Those big losers, such as aluminum giant Alcoa and heavy-machinery maker Cater- pillar, were winners on Tuesday, gaining 2.1 percent and 1.1 per- cent, respectively. The roller-coaster ride Tues-
day illustrated the uncertainty of a market that seems incapable of sustaining more than a brief ral- ly. Investors remain concerned about the underlying fundamen- tals of a U.S. economy that still is struggling to add private-sector jobs as well as a possible slow- down in overseas economies. The Dow Jones industrial
average gained 57.14 points, or 0.6 percent, to close at 9743.62 after jumping more than 170 points in early trading. The Dow climbed back up above 9800 and appeared to be making a run at 9900, but investors’ enthusiasm lasted only until lunchtime, when the buyers went home. Over the past two weeks, the Dow has dropped more than 7 percent and hit its lowest level since October. The average of 30 blue-chip stocks is still down 6.6 percent for 2010 but moved clos- er to positive territory for July, a historically volatile month for stocks, after Tuesday’s gains. The broader Standard & Poor’s
500-stock index rose 5.48, or 0.5 percent, to close at 1028.06, while the tech-heavy Nasdaq closed up 2.09, or 0.1 percent, at 2093.88.
European stocks had a consis- tently strong day of trading Tues- day, with markets in London and Paris gaining nearly 3 percent and Berlin rallying more than 2 percent. Traders and investors were encouraged by reports last week that banks on the continent had borrowed less money from the European Central Bank than had been expected. But that may all change later this month, when the Committee of Euro- pean Bank Supervisors is set to
release the results of its “stress tests” on European banks, simi- lar to what U.S. banks went through last year. In the United States, stocks were little affected by morning data that showed that growth in the service sector is slowing down, adding to fears of a stalled economic recovery or worse, a double-dip recession. According to the Institute for Supply Man- agement, the index of service- sector activity in the United States slipped backward in June to 53.8, compared with the 55.4 recorded in May. But the number is still above 50, the level that suggests an economy is in expan- sion, as opposed to contraction. In China, the government launched what may prove to be
the biggest initial public offering in history. The Agricultural Bank of Shanghai — a bank founded in 1951 by no less than Mao Zedong — raised an eye-popping $19 bil- lion in its IPO on Tuesday, a fig- ure that could rise to $22 billion. Twenty times more institutions sought to buy shares than were able to, a sign that big investors still believe in China’s growth po- tential. AgBank is the last of Chi- na’s four state-owned banks to go public. On Wall Street, last week’s lone
star fizzled Tuesday. Electric car- maker Tesla, which had its IPO last week, traded below its initial price of $17 a share, closing Tues- day at $16.11, down 16.1 percent.
ahrensf@washpost.com
Sex
capital,” said Courtney Sanders, a spokeswoman for Hutchison. The senator “has been working with, and on behalf of, several of her colleagues to reach a consensus on this issue as the FAA reauthori- zation bill is finalized.” Jena Longo, a spokeswoman for the Senate Commerce Com- mittee, declined to comment on the issue.
A decision deferred
The issue might not be resolved for weeks. Last week, Congress passed a short-term extension of the FAA’s operating authority — the latest of many — through Aug. 1.
The $34 billion aviation bill Losing streak ends
Wall Street averted its eighth straight day of losses on Tuesday, as U.S. stocks eked out narrow gains despite the collapse of an early rally.
Dow Jones industrial average at 15-minute intervals, by business day
9000 9250 9500 9750 10,000 10,250 10,500
Kansas City
Lexington Chattanooga Jackson Atlanta MEXICO
Sarasota Ft. Myers
Atlantic Ocean
Chicago
Reagan National Airport (DCA)
would upgrade the country’s air traffic control system, fund cap- ital improvements and enhance pilot training in the aftermath of last year’s commuter plane crash near Buffalo. Key differences remain, how-
ever, among them a clause in the House version that would expand opportunities for FedEx workers to unionize and increase the $4.50 passenger facility charge to $7. The labor language faces op- position in the Senate. And Senate leaders are pushing a $1 increase in the fee, to $5.50, according to proposed language. The perimeter rule is governed by federal law under an agree- ment with Northern Virginia communities and the Metropoli- tan Washington Airports Author- ity.
The idea was to have National
serve as the region’s day-trip, short-haul airport and to have Dulles International Airport serve as the hub for long-haul flights. But during debate on the FAA bill this spring, Western lawmakers argued that growth at Dulles has erased the need to protect busi- ness there. The airports authority, which
operates both airports, is pushing to preserve the status quo. “There will be an impact from more long-haul flights that are typically operated with larger air- craft carrying more passengers,” spokeswoman Tara Hamilton said in a statement. She cited “aircraft and passenger delays,” a “strain” on security screening and airline check-ins.”
reinl@washpost.com Wal-Mart’s Sam’s Club chain is
partnering with a lender to offer loans of up to $25,000 to its small- business members. The program is one of several moves the retail giant has made to offer banklike financial services to customers, in part to help them spend. It also comes as the retailer tries to improve profitability at its warehouse-club chain. The division of Wal-Mart Stores, based in Bentonville, Ark., is testing a program with Superior Financial Group, one of 13 feder- ally licensed nonbank lenders, and will offer loans of $5,000 to $25,000 to members who qualify. They don’t have to spend the money at Sam’s Club. Sam’s Club says 15 percent of its business members reported they were denied a loan in a November survey. That’s up from 12 percent in April 2009. The program will focus on mi-
nority-, female- and veteran- owned businesses. Sam’s Club members who apply for a small- business loan during the pilot will receive $100 off the application fee, a 20 percent discount and a discount on interest rates. Businesses can pay $35 for a membership to Sam’s Club that includes three annual member- ship cards that allow them to shop at 600 Sam’s Clubs in the United States. Sam’s Club offers other memberships to consumers and businesses that cost as much as $100 annually, depending on the features included. Although the economy has grown for three consecutive quar- ters, tight credit remains a prob- lem for many consumers and businesses. “Access to capital is a major pain point for our members,” said Catherine Corley, vice president, membership at Sam’s Club. The loan program isn’t Wal-
Tuesday’s close: 9743.62 June 22, 9:30 a.m.: 10,481.7
22 23 June
SOURCE: Bloomberg 24 25 28
29 30 1 2 6 July
THE WASHINGTON POST
Mart’s first attempt to offer finan- cial products. In 2007 it tried to establish a bank, but dropped the bid after heated debate over whether the world’s largest retail- er should be allowed to gain the added financial power of a feder- ally insured bank. In June, the company took a 1 percent stake in Green Dot, which has provided Wal-Mart’s Money- Card, a prepaid debit card, since 2007. Wal-Mart earlier this year cut 11,200 Sam’s Club jobs when it turned over in-store demonstra- tions to an outside company. Sam’s also closed 10 underper- forming stores, which cost an- other 1,500 jobs. Shares of Wal-Mart rose 57
cents, or 1.2 percent, to $48.57. —Associated Press
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Sam’s Club to kick-start spending by giving loans
Wal-Mart’s chain plans to lend up to $25,000 to small businesses
by Mae Anderson
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