Frontier shares climbed nearly 5 percent Friday, closing up 31 cents at $6.60. The rise followed Denver-based Frontier’s monthly traffic report released late Thursday afternoon that showed the company’s planes were 77.9 percent full in September, up 10.3 points from the same month a year ago.
Separately, Frontier on Friday started new flights between Denver and Sioux City, Iowa, and between Denver and Rapid City, S.D.
Jobs report evaporates recession fears
WASHINGTON — Fear of an imminent recession evaporated Friday when the Labor Department reported that employers added plenty of jobs in September and revised upward its dismal August report, signaling that the economy remains in a mild, manageable slowdown while continuing to grow.
Non-farm payrolls rose by 110,000 in September, and August payrolls swelled by 89,000 – far better than the alarming 4,000-job decline initially reported last month, which spooked financial markets.
Beef recall putting manufacturer out of business
Topps Meat Co. said it’s going out of business because of losses caused by the second-biggest beef recall in U.S. history.
“In one week we have gone from the largest U.S. manufacturer of frozen hamburgers to a company that cannot overcome the economic reality of a recall this large,” Anthony d’Urso, chief operating officer of Elizabeth, N.J.-based Topps, said in a statement.
The recalled products – more than 21.7 million pounds of ground beef – have sickened at least 30 people in eight states, according to the U.S. Centers for Disease Control and Prevention. The Department of Agriculture said it will take steps to improve its recall process because of delays between illness reports and its recall announcement.
Most of the 87 employees at the company’s plant in Elizabeth have not worked since it was closed after the USDA’s initial recall announcement Sept. 25, spokeswoman Michele Williams said.
DNA employees OK new contract
Denver Newspaper Agency workers represented by the Denver Newspaper Guild voted to approve changes to their contract in a vote that ended Friday. Eighty-two percent of votes cast were in favor of the new two-year agreement. More than 50 percent of the Guild members at the Denver Newspaper Agency voted. The Guild contract covers more than 600 employees in circulation, advertising, finance and operations. The new pact, which is effective Oct. 7, replaces the previous contract, which would have expired Jan. 31, 2008.
From Denver Post staff and wire services
