Brrr! Industrial output in America rose starkly last month, driven largely by cold weather-induced utility usage, but this masked underlying weakness in factory production, The Wall Street Journal reports. Industrial production, a measure of factory, mining and utility output, rose a seasonally adjusted 0.6% in November from the prior month, the Federal Reserve announced today. Read the full story.
At the gate: Spirit Airlines tops the latest ratings for on-time flights, a stunning turnaround for a discount carrier that consistently ranked as the tardiest airline in America three years ago. The Transportation Department announced today that 89% of Spirit’s flights in October arrived on time, putting Spirit just ahead of frequent winner Hawaiian Airlines and Delta. The government counts a flight on time if it arrives within 14 minutes of schedule. Read the full story.
Not so bad: General Motors’ plans to lay off 14,000 salaried and blue-collar workers might not be as bad as originally projected. The company announced today that 2,700 out of the 3,300 U.S. factory jobs slated for elimination will now be saved. GM still plans to lay off about 8,000 white-collar workers and another 2,600 factory workers in Canada. Read the full story.