Business

March 19, 2008

In brief

King’s gets WSW funding

Area schools will share in $671,618 in the second round of funds awarded through the Wall Street West initiative that aims to bring back-up operations office of New York City-based financial institutions to the region.

The King’s College Economic Certificate program, developed in conjunction with Prudential Financial services, was awarded $91,988 to prepare 12 to 15 nontraditional students to enter the financial services industry.

The Foreign Currency Trading Course and Laboratory, created by the University of Scranton and InSource LLC, received $196,080.

The Northeastern Pennsylvania Partnership for Workforce Development in Information Assurance, offered to high school students and teachers at regional Penn State campuses, received $41,266. The money funds summer camps focusing on assurance in a virtual computing laboratory.

Pilots can’t reach deal

Delta Air Lines’ pilots union has told company executives it has been unable to agree on seniority issues with its counterpart at Northwest Airlines, raising serious doubts about the prospect of a combination of the two companies.

The disclosure was made Monday afternoon in a letter from the head of the pilots union at Delta, Lee Moak, to rank-and-file Delta pilots.

The letter does not mention Northwest, but describes the union that Delta’s pilots had been negotiating with as the only one with which they were focused on talking.

Short-term rates at 1.1%

The Treasury Department on Monday auctioned $24 billion in three-month bills at a discount rate of 1.100 percent, down from 1.420 percent last week. Another $22 billion in six-month bills was auctioned at a discount rate of 1.310 percent, down from 1.450 percent last week.

The three-month rate was the lowest since May 24, 2004.

Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, fell to 1.52 percent last week.

Job fair today at arena

More than 50 employers will participate in the Times Leader/Monster.com spring career fair, being held from 10 a.m. to 6 p.m. today at the Wachovia Arena, Wilkes-Barre Township. Some of the industries represented are sales, health care, Internet commerce and manufacturing. Recruiters will accept resumes and job applications and in some cases hold on-the-spot interviews. There is no admission fee.

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