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Winn-Dixie's bankruptcy exit is approved

By TIMES WIRES
Published November 10, 2006

A federal judge on Thursday approved Winn-Dixie Stores Inc.'s bankruptcy reorganization plan, and the supermarket chain plans to emerge from Chapter 11 protection within 30 days. Creditors approved the company's reorganization plan last month. The company will emerge once it receives $725-million in exit financing from Wachovia Corp., issues new stock and installs new directors.

Favorable trends shrink trade deficit

The U.S. trade deficit narrowed to $64.3-billion in September from a record the prior month as crude oil prices fell and growing economies abroad spurred demand for American goods. The deficit fell 6.8 percent, the biggest drop in almost two years, from a $69-billion in August, the Commerce Department said Thursday.

Unemployment filings drop off

The number of Americans filing first- time claims for jobless benefits fell more than expected last week to a level consistent with a healthy labor market. Initial jobless claims declined by 20,000 to 308,000 in the week that ended Nov. 4, the Labor Department said.

Low inventories push up price of oil

Oil prices rose above $61 a barrel Thursday in reaction to figures showing lower U.S. gasoline and diesel fuel inventories. While prices have been holding near the $58-$60 a barrel range, they were expected to rise as the Northern Hemisphere winter season cranks up demands on heating fuel.

Delta to call back flight attendants

Delta Air Lines Inc., the largest U.S. carrier in bankruptcy, said it would recall 1,000 more flight attendants in 2007 as it adds international flying. Delta expects to start training for as many as 500 furloughed attendants "in the first few months of the year," the Atlanta-based airline said Thursday in a statement. The recalls reflect Delta's progress in its plan to exit Chapter 11 in the first half of 2007.

Tourism official accused in theft

More than $1.5-million in bed-tax money and membership dues was embezzled from the Palm Beach County Convention and Visitors Bureau without anyone noticing, officials said Wednesday. Over the past three years, former bureau Controller Donna M. Duffer allegedly forged signatures on about 200 checks she wrote to herself to finance her gambling problem, officials said. Duffer was fired but not yet charged.

[Last modified November 10, 2006, 00:24:39]