Quote of the Day
"The U.S. economy expanded at a faster clip than initially forecast in the third quarter, helped by more robust consumer spending and by stronger exports. The economy grew at a 2.5% annualized pace in the quarter, revised up from the initial estimate of 2.0%, the government said in its second estimate of quarterly gross domestic product. GDP growth was 1.7% during the second quarter.”
- Wall Street Journal’s MarketWatch, 11/23/2010
For Release: Monday, May 10, 2010
Contact: David Gillies: 202-225-5661
AVIATION SUBCOMMITTEE TO HOLD HEARING ON UNITED-CONTINENTAL MERGER
WASHINGTON – House Aviation Subcommittee Chairman Jerry Costello (D-IL) announced today that the Subcommittee will hold a hearing on the United-Continental merger in June. While Congress does not have a formal role in the merger approval process, the hearing will be an opportunity for both United and Continental to explain the proposed merger in more detail, and for Subcommittee members to gauge its effects on the aviation industry.
“As we have done before with other proposed mergers, we will examine this proposal in detail to understand its potential positive and negative impacts,” said Costello. “I have made it clear previously that in general, I am concerned that mergers lead to less competition, higher fares and loss of jobs, but all such transactions are unique and need to be examined closely. I look forward to United and Continental making their case.”
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