Turbulence ahead: Global aviation earnings will likely decline to $3.5 billion in 2012 but those could turn into steep losses exceeding $8.3 billion if the euro-zone crisis veers toward catastrophe, the industry’s trade group says. For 2011, the industry says it anticipates that surging oil and fuel prices will clip its profits at $6.9 billion—less than half of its $15.8 billion in 2010 profits. The International Air Transport Association’s annual review focused on Europe’s debt crisis, which is threatening the global economy. The IATA, whose 240 member airlines carry 84% of all passengers and cargo, says the industry’s overall revenue in 2012 is expected to rise to $618 billion from $596 billion this year, while costs will go up from $583 billion to $609 billion. Projected 2012 operating profit of $8.7 billion would result in a net profit of $3.5 billion. Read the full story from The Associated Press here.
Goodbye, Gowalla: Facebook has hired the team behind Gowalla, the location service that lets people share where they are using their mobile phones. Gowalla started out in 2009 as a way for people to share their location with friends and strangers by “checking in.” Now Facebook will wind down the service, as it often does when buying a startup to hire its talent. It did not acquire the Gowalla service or technology. Financial terms were not disclosed. Gowalla co-founder Josh Williams said in a blog post that Gowalla will join Facebook in California. Gowalla is currently headquartered in Austin, Texas. Gowalla never quite caught on with a large audience, trailing rival Foursquare. Read the full story from The Associated Press here.
A surprising sanctuary: An unexpected but fruitful relationship has blossomed between two potent forces in the swamps of south Florida: the American crocodile and a nuclear power plant. The reptile has made it off the endangered species list, thanks in part to 168 miles of manmade cooling canals surrounding Turkey Point Nuclear Power Plant in the southeastern corner of the Florida peninsula. It turns out that Florida Power and Light was building prime croc habitat just as virtually every other developer was paving it over. Federal wildlife officials give the state’s largest public utility part of the credit for a five-fold increase in the species’ population in Florida. There are only two other sanctuaries for the crocodiles, which are still considered threatened. Hundreds of crocodiles roam the swampland surrounding the power plant. They’re monitored by wildlife biologists hired by the utility, who sometimes need quick reflexes to keep all their fingers. Read the full story from The Associated Press and see a photo gallery here.
