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 3, 2010
Contact: David Gillies: 202-225-5661
COSTELLO STATEMENT ON ANNOUNCEMENT OF UNITED-CONTINENTAL PROPOSED MERGER
WASHINGTON – U.S. House Aviation Subcommittee Chairman Jerry Costello (D-IL) issued the following statement today regarding the announcement that United Airlines and Continental have a merger agreement in place:
“As with all mergers, there is a process in place for review and approval by the Department of Transportation and the Department of Justice. While Congress does not have a formal role, I am reviewing the details of this transaction, and I am pleased that the headquarters of the merged company would be in Chicago. In general, I have concerns that mergers lead to higher costs for consumers and job losses for employees. And as I said during consideration of the Delta-Northwest merger, those effects will be increased as we see further industry consolidation. These are issues that must be analyzed carefully, and I look forward to the timely and thorough consideration of this proposal.”
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