u.s. airways. now, for u.s. airways, the -- the idea here is that it is likely to fight the doj lawsuit without the merger it remains the fifth largest airline. doug parker has said time and again that he believes this merger is good for consumers and good for the airline industry, but we should point out, as you take a look at shares of lcc, down more than 10% today, at least one firm on wall street has lowered its expectation for the merger going through from 50% down to 40%. still yet to hear from u.s. airways. my sense is we'll hear something from them in the next few minutes. when we get it, we'll pass it on to you. >> guys, thanks very much. let's bring in seth kaplan. seth, welcome. god to have you with us. does this mark the end of airline mergers, or will we continue to see them? >> tyler, this merger was supposed to mark the end of airline mergers, really at least as far as large mergers go, just because the there wasn't really anything left that anybody could imagine the government ever approving. delt

u.s. airways and american airlines are undoubtedly surprised by this move by the u.s. justice department. and we have in the u.s. have five major airlines. fourwould lead to only airlines, main airlines. that is, delta, southwest, united, and the new american airlines. i again commend it looks like a little bit of a fight on their hands for the top executives in u.s. airways and american airlines. they do seem confident that this will get done, and maybe even by the end of this year. fresh hope that the bureau is turning a corner. >> cranking up industrial production during the month of june in the eurozone. it was up 7% in comparison to the previous month. a higher output of big-ticket items like cars and computers drove this move. durable-goods production was up almost 5%. that is reinforcing the view that the eurozone is on track to exit the recession. in thec sentiment biggest block, germany, is bouncing back. is reaching a four month high. institute is reaching a four month high. and in germany, for the latest eurozone to gdp. it is out on wednesday and will be cl

u.s. airways and american airlines that proposed merger which was announced in february would make the combined airline the largest one in the world and according to washington post who plays eighty six percent of u.s. air travel in the hands of four big airlines are here in washington d.c. alone the union of u.s. airways and american airlines would control sixty nine percent of the takeoff and landing slots at reagan national airport but that's not all allowed to go through the merger would cause a massive spike in air fares is the c.b.s. evening news had to say about this last night. the federal government is worried about the impact on consumers it cites examples like a one stop round trip flight from new york to. didn't the american airlines fare comes up as one thousand four hundred sixty seven dollars on its merger partner u.s. airways it cost just five hundred seventy five dollars if the two airlines become one the lower fare would disappear that's almost a one thousand dollars jump monopolies are bad for consumers bad for the economy so the justice department in my opinion is right to b

u.s. airways and amr. that is likely going to be delayed. u.s. airways ceo doug parker says this merger will not be happening in the third quarter. we talked about where we may see some competition concerns from the justice department. reagan airport, d.c., that is the primary area that the justice department pointed out. they say that this merger will hurt competition for people flying in and out of that airport and they point out that 63% of the nonstop flights at reagan would be controlled by u.s. airways and amr if they merge. in a conference call today with reporters and assistant attorney general said we believe there will be hundred and hundreds of millions of dollars in consumer harm if this merger goes through. u.s. airways and amr both issuing statements today saying they plan to fight the doj. they are defending the benefits of the merger, saying it gives people more choices and ultimately more competition around the world. what also bothers a number of people who have supported this merger, is the fact that this is the first time in th

u.s. airways or icerican airlines. they'll probably have to give up some of that monopoly to make concessions to the government and open room for the competition. by the way, this is congress' main airport. of course, they're always keenly y'terested in what happens at their airports. >> pelley: sharyl attkisson, thank you, sharyl. something that has been buried on the labor department's website since february has suddenly come to light. it could affect a lot of americans. it is a notice that says the obama administration is delaying another part of the health care reform law. the part that will limit the amount of money people have to po out of their own pockets for health care. we asked wyatt andrews to look into this. >> do you... reporter: doctor patricia rodriguez of georgetown university is worried what the ruling will do to her cancer patients next year, the patients who need drugs that can cost tens of thousands of dollars even for patients with insurance. >> it's amazing how much those drugs cost. >> reporter:

u.s. airways merger. think again, there's a larger question here that maybe we'll see some reductions in service. maybe we'll see some increasing fares following the merger. but will we see a healthier industry long term, and will that be a net benefit for flyers down the road? host: on twitter, there's a comment that the regulation always leads to new players and then mega mergers. guest: i think that's an interesting comment as well, and i think one analogy you can do is, in the train industry, not necessarily deregulation, but another network industry, the trains have gone through a big period of consolidation and aof struggles, and now they're doing much better. there was a lot of mega mergers, and now you have several train companies and rail companies in the country, but they're obviously doing much better than they were decades ago. host: our guest writes about the airline industry and other issues out of chicago for the "wall street journal." he's jack nicas, joining us to talk about this lawsuit

u.s. airways hit some turbulence today. the u.s. justice department and several state attorneys general are suing to block the deal. good evening. i'm judy woodruff. >> brown: and i'm jeffrey brown. on the newshour tonight, the surprise legal challenge claimed the merger would increase air fares and cut services. we explore the fight over creating the world's largest airline. >> woodruff: then, north carolina joined a growing list of states to pass a voter i.d. law. we debate the measure, the first since a landmark ruling on voting rights by the supreme court. >> brown: new yorkers weigh the pros and cons of the city's stop and frisk policy. we get reaction to a judge's order to limit the program. >> woodruff: despite dire warnings, egypt's government has yet to crack down on mass- protests supporting the ousted president. margaret warner talks with egypt's foreign minister. >> brown: new education standards taken up by many states outline what kids should learn but not how. john merrow looks at teachers and students adjusting to "t

u.s. airways and american airlines. that proposed merger which was announced in february would make the combined airline the largest one in the world and according to washington post who plays eighty six percent of u.s. air travel in the hands of four big airlines are here in washington d.c. alone the union of u.s. airways and american airlines would control sixty nine percent of the takeoff and landing slots at reagan national airport but that's not all allowed to go through the merger would cause a massive spike in air fares is the c.b.s. evening news had to say about this last night. the federal government is worried about the impact on consumers it cites examples like a one stop round trip flight from new york to houston the american airlines fare comes up as one thousand four hundred sixty seven dollars on its merger partner u.s. airways it cost just five hundred seventy five dollars if the two airlines become one the lower fare would disappear that's almost a one thousand dollars jump monopolies are bad for consum

u.s. airways cost structure. likely, at the former u.s. airways, they will go up. was reading, the attorney general was saying that rural counties in texas would not be served. i do not see southwest and jet blue particularly going away, no. there is a significant portion of the carriers, they have three criteria for selecting airlines and flights. what will happen is the availability of low pricing is likely to be less. we will see these examples. cheryl: you can argue whether or not it should be put inside a lawsuit. $6 billion. thank you very much for joining me on the phone. appreciate it. another breaking news story. the eternal drama on the board at jcpenney. bill pac-man resigning his seat just days after he went public calling for the ousting of the current ceo. take a look at the stock. taking a dive on the news. there has been a lot of pressure. let's bring in two people who know very well what could happen to jcpenney. this is all happening right smack in the middle of back to school season. >> bill has been pretty disruptive from the time he got there.

u.s. airways hit some turbulence today. the u.s. justice department and several state attorneys general are suing to block the deal. good evening. i'm judy woodruff. >> brown: and i'm jeffrey brown. on the newshour tonight, the surprise legal challenge claimed the merger would increase air fares and cut services. we explore the fight over creating the world's largest airline. >> woodruff: then, north carolina joined a growing list of states to pass a voter i.d. law. we debate the measure, the first since a landmark ruling on voting rights by the supreme court. >> brown: new yorkers weigh the pros and cons of the city's stop and frisk policy. we get reaction to a judge's order to limit the program.

u.s. airways. it all comes just two days before a bankruptcy judge was about to okay it and six months after it was first announced. let's get straight to cnbc's phil lebeau. you're covering the story since it broke, phil. how unexpected was this. >>? >> very unexpected, mandy, and now we can look forward to perhaps a protracted legal fight in court. just heard back from u.s. air and amr within the last hour, both of them saying, hey, we're going to fight this doj suit to block us. they are issuing a statement saying we'll mount a vigorous defense and pursue all options in order to achieve this merger to give a better american to our customers and our communities as soon as possible. in the last hour, in a letter to employees at u.s. airways ceo doug parker says the companies will not merge in the third quarter. that's going to be pushed out for a while. he says the doj is wrong in its assessment. he goes on to say we will fight them. well, the doj has a different opinion. it says that this is an u

u.s. airways because it would hit the customers harder. david curley has that story. >> reporter: fliers already feel the frustration, the squeeze in the cabin, more seats in packed planes, and all those fees, a bag, 25 bucks, more leg room, $45, even a snack, 3-8 bucks. >> the baggage is a pain in the rear end. >> reporter: but tonight the u.s. government says, this is a quote, the consumers will get the shaft if american airlines is allowed to merge with u.s. airways. >> i wouldn't be surprised if prices go up. >> reporter: so you kind of agree with the government's case that less competition means higher fares? >> that's the general economics rules, as an economics majors, yes, i agree that means higher prices. >> reporter: they are suing to stop the deal before it gets off the ground saying fares will increase. here's what's strange, this is rare, only twice before has the government moved to block a merger. we have seen a lot of airline names disappear from those boards. all those mergers left five major airlines, but the government s

u.s. airways.rger of two would create the world's biggest airline but the government says it's a bad deal for consumers. airlines have been merging since the late 1970s. there were 20 major airlines in the u.s. by 1990, there were just 12 and today there are just 7. the u.s. has seen three, count them, three huge merge earls in five years to keep airlines in the sky. you couldn't make money doing it alone. but the justice department says, that's not the case here. and if this merger goes through, those four airlines will control more than 80% of the u.s. air travel market. this is the chart that the airline industry wants you to see. it's the cost of flying. cost of flying has dropped over those 30 years. although prices ticked up a little bit in the last decade. but here's a chart they don't want you to see. in 2010, jet blue and american airlines, they made a deal giving jetblue slots at washington's reagan national airport. before landing there, u.s. airways charged more than $1,200 for a ticket

u.s. airways the fifth-largest.ding to the doj, this is all about a merger that would ultimately result in higher fares, higher fees. in fact, today, during a conference call, the assistant attorney general said we believe there will be hundreds and hundreds of millions of dollars in consumer harm if this merger goes through. well, i'll tell you what was really harmed today. shares of lcc, u.s. airways' shares, down 12%, or almost 12% right now. the biggest single drop since august 2012. it's lopped off more than $200 million from the market cap. bill, we're showing you this chart going back to february 13. that's when these guys announced their merger. after that, the airline had a nice little run. today, everybody is pulling back. >> european officials approved this last week when the two agreed -- the two airlines agreed to give up some slots at heathrow and in philadelphia. weren't they willing to do the same thing for u.s. officials? wasn't there some give-and-take there, as well, don't you think? >> reporter:

u.s. airways. we are joining right now live by capital chairman and fowppedzer, also former continental airline ceo, frank lorenzo on the telephone. thank you for being here on fox business to help us understand what the ramifications of the doj move are, and what are they? >> caller: well, adam, to be fair, i have not read -- i have not read the suit so i really don't know what the government's up to here, whether they just step up the bargaining or whether it's an attempt to outright stop the amalgamation. stopping the merger is not in the public interest. adam: why not? >> caller: because we need a more efficient system, having four major airlines, which would be the result of this merger does not leave an uncompetitive system. the fact they compete over connections is not really the significant thing for the consumer. we will pay higher fares over time if we have a less efficient system, and, of course, this is very -- a very unfair for them to stop this emergencier -- merger when they didn't s

u.s. airways as part of the emergents from bankruptcy. both american and u.s. airways is fighting the justice department to allow them to join forces. >>> time is 4:46. let's go to sal. sal, you getting prepped and ready? >> yes, we are. the media on tours these days and i know it's getting close and by this time next week it's going to be closed. the bridges. we will be watching that for you. i think a lot of people are making plans for that. let's talk about some of the bridges. san mateo bridge is going to be the workhorse for a few days while the bay bridge is closed for them to reopen or to rent to open an eastern span. san mateo bridge right now looks good. it's not really a major problem. if you are driving over to the richmond bridge i see a little bit of road work there. as a matter of fact, the traffic is going to be well it's right here. it's not really going to be a huge problem for you but you're aware it's there. the traffic in that area has been slow. moving over to the antioch area there is road work there on 80 or highway 4 pardon me if you are

u.s. airways. the merger would make the biggest airline.y in 1978, there were 18 airlines, and now there are just 12. if this merger goes through, those four airlines will control more than 80% of the u.s. travel market. this is the chart the airline industry wants you to see. it's the cost of flying. the cost of flying has actually dropped over those 30 years, although prices have ticked up a little bit in the last decade. here's a chart they don't want you to see. in 2010, jetblue and american airlines made a deal, which gave jetblue slots at reagan international airport. before jetblue landed at reagan, us airways charged $1200 a ticket. after they landed at reagan, they dropped to $500. reduced competition has allowed them to raise fares and charge you more for things like checking your bag or changing your ticket. the u.s. airways president said, quote, consolidation has also allowed the industry to do things like ancillary revenues. this is a structured permanent change in the industry and one that's impossible to overstate the benefi

u.s. airways stock is grounded over this news. a whole group of stocks are set for take-off.d out which ones will put you in first class? that's coming next. >> david: we are back. informers are here to give you stocks ready to take off for the rest of the year. emac? >> it's up 30% over the last year. up a decent 10% over the last five years. solid blue chip names in there. cheap expenses. i like this one. >> david: you like this fund? >> i think it's a solid low-risk fund. you might get more bang for your buck to invest in the top foldings. >> david: huntington bank shares incorporated. >> this is a regional bank. customer service oriented. they pay a bankable dividends. gobs of insider banking. >> david: regional banks have done well. >> because the fed has been supporting the housing market, too. they are well positioned for nat/gas industry. >> david: that's it for "forbes on fox." have a wonderful weekend. thank y watching. the number one business block continues with eric bolling and "cashin' in." >> eric: forget big cities. now poverty is becoming a big problem in ame

u.s. airways.eneral from diverse states agree including those from texas and arizona where american and u.s. airways are based. one illustration of concern can be found at reagan national airport where the resulting airline would account for nearly 70% of all flights and control 63% of nonstop flights. that level of consolidation has passengers worrying about rates and routes. the airlines respond by saying that the merger will actually create more options for customers. but i'm not holding my breath. ironically it's because of the prior mergers that the american/u.s. airways marriage is problematic and being challenged. this merger would create the world's largest airline and we'd be left with four airlines controlling 80% of the u.s. market for air travel. there's a bank analogy to be made here. bigger rarely seems to be better. when i swap travel stories with friends and colleagues, no one seems to single out the giants for good service. more likely is that they'll reference jet blue, virgin, al

u.s. airways days after the justice department filed a lawsuit to stop it. today a bankruptcy judge asked amr to explain why he should approve the company's merger and bankruptcy protection while the federal government is challenging those very plans. the judge expressed quote lingering doubts about okaying the merger, which that lawsuit says will raise air fires and eliminate choices for travelers. although no decision was handed down it will challenge the lawsuit, continue planning for the merger and be back in bankruptcy support on august 29th. >>> apple's online restoring gadgets to some of the most popular in the world and most counter fitted devices. in china where most of those counter fit devises are manufactured consumers may have had enough. they are fighting back to stop the sale of those bogus goods. >> reporter: the chinese consumer, shoulds his identity, one way he can track counterfeiters. >> fake crocs. >> reporter: after sniffing out fakes for two decades, he feels consumers are backing him up in the fight. people have a stronger sense to pr

u.s. airways and american airlines. does this mark the end of consolidation in the industry? and what does it mean for you, the traveler? >> following the money, carl icahn tweets about a 1 billion-dollar stake in apple and the stock takes off. j.c. penney shares worth $350 million less than he paid. can he make money? >> and supersized hospitals are getting better, changing the economics of healthcare, but will the trend mean higher bills for you? all that and more tonight on "nightly business report" for tuesday, august 13th. >>> and good evening everyone. buckle your seat belts and make sure your trey tables are upright and locked that planned 11 billion-dollar merger between american airlines and u.s. air hit an air pocket today courtesy of the u.s. justice department. eric holder and six state attorneys general soon to blocked merger says the deal will stifle competition after a wave of airline competitions in recent years. says the government says it could lead to bigger prices. shares of u.s. airways falling 13% day and amr corp, which is currently in bankruptcy but tr

u.s. airways would reduce competition and increase fares. but u.s. airways has rejected this claim. the leader of a group said it s not behind the attack that 44 people. it is still unclear who carried out the killings. transport authorities canada have suspended the operating license for the rail company at the center of the accident that culled 47 people in july. they say the rail network involved didn't have enough insurance for the clapes made against them. north korea, one of the word's -- has developed its own smartphone. the president made a visit to the assembly line. north korea has two million users, but almost everyone is pro vopted from dialing outside the country. >> bill clinton just completed a tour of several african countries, including tans yeah and are wanted. america's involvement with the konta inept has not been without controversy. my colleague accompanied the former president on his trip. we hear the former president's views on several issues. >> rwanda is one of the biggest recipients of aid and support from the clinton foundation. but progress has been blue

u.s. airways. they're in a different class. neither american nor u.s. airways can adequately compete with those two alone. so the merger is necessary to keep them in a competitive class is the argument he's making. the other piece of this is it's an odd argument when the doj has already let all of these other mergers go through to now say, well, because you're coming after these other mergers, we're going to stop yours just because sequentially they're after them so the market is already so consolidated. i have to say, merger or no, i don't have a whole lot of hope for a great customer service experience with the airlines. it's already pretty dismal, even without the merger. >> yeah, i think you put it well. snyder explains that concept. i strongly disagree because i think even if they have fouled it up so far, even if we have enough enforcement and there's too much monopoly power here which is obviously what affects prices and hurts consumers, when you look the at doj filing and their press release today, what they want to do is take these guys to court

u.s. airways stock is grounded over this news. a whole group of stocks are set for take-off.d out which ones will put you in first class? that's coming next. mine was earned in djibouti, africa. 2004. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. the healthcare law gives us powerful tools to fight it... to investigate it... ...prosecute it... and stop criminals. our senior medicare patrol volunteers... are teaching seniors across the country... ...to stop, spot, and report fraud. you can help. guard your medicare card. don't give out your card number over the phone. call to report any suspected fraud. we're cracking down on medicare fraud. let's make medicare stronger for all of us. >> david: we are back. informers are here to give you stocks

u.s. airways, an ♪ gerri: from our fox business studios in new york, here again is gerri willis. ♪ gerri:justice department has its way the proposed merger of u.s. airways and american airlines will not fly, all because of the impact it could have on your bottom line. rich edson is live in washington d.c. with the latest. >> reporter: good evening. reagan national airport right across the river from washington d.c. and the justice department, this is the airport they used in part to make their case. they say this merger goes through, u.s. airways merges with american airlines and the result will be here 69% of the spots will be controlled by that new airline. this statement from the department of justice saying that this transaction would result in consumers paying the price in higher air fares and fees and choices. today's action proves our determination to fight to the best interest of consumers by ensuring robust competition in the marketplace. the case of the airlines is that considering what you happen over the last decade and really of of the last few years with delta and northwest

u.s. airways. that merger would create the world's biggest airline. the justice department and six states, though, have filed a lawsuit to block the proposed merger saying fares will increase, something at least one expert disagrees with. >> take one out of the system, it does not change the fare structure one iota. and doj just doesn't understand that. >> the government's wrong? >> they're wrong. >> the reaction has been swift from the airlines, though, which have already started advertising the merger. the ceo of u.s. airways has been defiant saying, the deal would close by the end of the year. >>> as diet soda sales decline, coca-cola is running its first ads defending the safety artificial sweeteners. coke is touting scientific evidence that shows that the active ingredient commonly known under the nutrasweet brand name is not harmful. the ad will begin in newspapers today in the atlantic area. >>> recent studies find that sugar, even at moderate levels could be toxic. not just to your health but also your sex life. scientists at the university of

u.s. airways and american airlines will create the biggest airline. two companies want to go ahead but the u.s. justice department is saying wait a minute. it files a suit to stop the deal from taking off. renee marsh joins me with more on this story. we've seen mergers in recent years. the justice department didn't step in. what's the issue? >> there's two big issues. the first one is if they allow this merger that would mean less competition and they say less competition leads to higher ticket prices. the big picture is they believe the consumer is going to lose if the th this merger was allowed to happen. we got a response from american airlines and u.s. airways is they plan to fight the justice department's action. we see a fight is setting up. they plan on taking whatever legal measures are necessary to go against what the justice department is trying to do. >> you know it depends on who you can ask because the justice department would say zero is at stake. they say both companies would do just fine as stand alones. they would be able to compete.

u.s. airways is doing so well? >> well, there are big differences in terms of how they looked at this particular merger. we put out a study, the consumer travel alliance, back in april of this year, showing that there were 761 overlapping connecting routes. and then, the gao came out with their own study, and they added more than just one stop routes and came up with 1,665 overlapping competitive routes. and then, we ended up comparing it to the united/continental merger, and it turns out there are 30% more overlapping competitive routes in this merger than they had during the continental/united merger. it is a disaster in terms of consumers when it comes to competition. and that's what got the attention of the doj. >> i'm horribly out of time, but i have to say, gordon, the number that stood out to me in the doj complaint, was, they said, if this goes through, it results in four airlines controlling more than 80% of the u.s. travel market. how is that good for the consumer? >> well, you got some stability. people

u.s. airways merger.ne industry is basking in uncertainty because some six states are piling it on with the doj, one money manager with more than 4 billion in assets says this is your time to snap some high-flying bargains. joining me live, brandywine global not managing director. you have 4 billion, but 47 billion. it listening to you, your reaction to the situation with the proper and the justice verses american airlines and usair is. >> it is totally unexpected. there is clearly no leak because nobody saw this compass -- coming. no one saw this coming. and it is really quite surprising because to me yes, we hear of u.s. air going up to consumers, but is directly it is not a good business. our lines are not earning good margins. not different than some prior mergers that have been approved. i am fairly surprised that the doj is going out with this particular combination. liz: and so in the end the think this will go through, even when you have some six states plus d.c. and the burden of justice saying,

u.s. airways merges with american airlines and the sult will be here 69% of the spots wl be controlled byine. this statement from the department of justice ying that this transaction would result in consumers paying the price in higher air fares and fees and choices. today's action proves ou determination to fight to the best interest of consumers by ensuring robust competion in the marketplace. the case of the airlines is that considering what you happen over the lastecade and really of of the last few yearsith delta and northwes and most recently continental and united airlines, in order to coete and bring the customers the types of routes and services they want, there are going to have to merge. the statement from the airline we believe tt they are wrong in its assessment of our merger, blocking his pro competitive merger will deny consumers access to aroader airline network that gives more choices. one analyst sd this does not necessarily guarantee higher fares >> if southland airlines are jet blue or som of the carrier can mp in and compete, fares not necessarily going to increase. i

u.s. airways, their optimism on travel demand. number one story is the east mission moving forward and approving so far moving forward with the merger between u.s. airways and amr which is the parent of american airlines. so there were some concerns that one part of it could be somewhat of a monopoly. so in order -- this is the caveat. the one thing that has to be done is they must give up the slot to over at heathrow airport everything else seems to be that it will go straight through. on the u.s. airways passenger traffic, it's looking good, up over 6% from july. dagen: thank you, nicole. espn is reporting a second autograph broker has come forward claiming that texas a&m quarterback asked for money to sign autographs. reporting that the heisman trophy winner was paid five figures on for another autograph session, a signing session last year. this is just the latest in a series of off-season incidents for the star football player, making him look like the justin bieber of college ball. senior writer at fox sports. you will be al

u.s. airways blocked.eal before it gets off the ground. > and what does that mean for ticket prices for you? richard quest is here to break it down. >>> you remember this video, right, the bus beatdown, all this backlash against the driver, the driver should have things. this story is becoming more and more about who we haven't heard from, like the parents, like the school, like anti-bullying advocates. what's going on in this story. we'll let you know what a juvenile judge had to say. the postal service is critical to our economy. delivering mail, medicine and packages, yet they're closing thousands of offices, slashing service and want to layoff over 100,000 workers. the postal service is recording financial losses, but not for reasons you might think. the problem? a burden no other agency or company bears. a 2006 law that drains $5 billion a year from post office revenue while the postal service is forced to overpay billions more into federal accounts. congress created this problem, and congress can fix

u.s. airways and american say they will use all legal options to fight the challenge to their merger.ares plunged as did other share autos more business news. billionaire carl icon takes a large bite out of apple.Ñwi# marisa mayer tops another list. >> good afternoon aiflt person familiar says the stake is worth more than 1dzs billion. apple confirmed ceo tim cook had a quote, very positive conversation with icon. shares jumped on the news to close up nearly 5% but are down more than 20% this year. in south korea lg launched hundreds of balloons and lg challenges attendees to bring them down. a number pechl showed up with weapons including spears and bebe guns. 20 people ended up with skbrir injuries and lg says it's halted similar upcoming events. facebook agreed to acquire mobile technologis. the terms of the deal not immediately disclosed but the company plans to join facebook at head quarters in menlo park. stocks closing higher today, halting a two marisa mayer is the second highest paid female executive in the u.s. earning $36 million last year training own oracle's cfo. also fo

u.s. airways are making money.ndable job in bankruptcy restructuring and in the short term there is no danger but over the long term delta and united will put pressure on them for the business traveler, frequent flyer and squeeze out of many markets and become marginal players. cheryl: what about smaller names? what are the concerns, this could be fair, they will have some routes that will be canceled between american and usair they have a thousand of the same exact route. we assume we will see capacity. we hope they won't but you got to say it is probably going to happen. >> those thousands routes are connecting routes. they should have considered that. there are very few direct routes between the two carriers and too many hubs. marginal hubs, cost airlines money, smaller hubs and conditional hubs would have been eliminated, the justice department was right on fat but there would have been a stronger carrier by rationalizing route systems in combination. plus southwest, more than enough for the consumer and for sm

u.s. airways. today, the u.s.l from six states and the disctrict of columbia filed an anti-trust lawsuit challenging the $11 billion merger. the justice department says it would decrease competition, create higher airfares and baggage fees, and worse customer service. american and u.s. airways call the assessment of its merger "wrong" and say they plan to fight that lawsuit. >> and it is toms night tonight. what does the forecast look like? >> a lot of people are looking for warm weather and we have some in our forecast. look at the ones out in the western end, these are the current temperatures. it is 59 degrees at green bay but 91 degrees at boise, idaho. look what happens here as we drop into tonight, 40's up around here near lake geneva. 50 at woodstock. it will warm up tomorrow, only up to the low 70's. we have a high mold count today. one thing you have to say for canadian high pressure, it certainly hollows out the precipitation in the center of the country. there are storms on its periphery down near the g

u.s. airways fall through. that is according to the general council who confirmed that detail to the news. the justice department moved last week to block this airline message saying it reduces competition and harms consumers in the end with higher ticket prices. americans banked on the merger for its ticket out of bankruptcy. it has spent get this half a million dollars a day in legal bills and the cost to fight the government to get this merger to go through. it is only going to add to that tab. here is another growing tab, the cost to own a car. bank rates say the national average is $3,200 a year that includes gas, insurance, taxes and repairs. it is the most expensive in georgia. more than $4,200 that is because cities like atlanta lack public transportation and also georgia has the highest automobile taxes in the entire u.s. driving is expensive in california, rhode island and ne ne nevada. drivers in other land spend the least or $2,200 a year. u tube may be ready for some football. national football lea

u.s. airways and amr story. all-around ball up arrows. charles: guess what, it was corny.y the way to mike jet blue coming full circle. i'm marijuana revolutionize the airline industry. a u.s. district court judge is telling federal reserve attorneys back from vacation to rule on low or debit card transaction fees. how could this ruling impact this very lucrative of the center for the banks and credit card companies. peter barnes is in washington d.c. with the latest. >> reporter: wants the bank and retail stocks on this because they are battling once again over the so-called swipe fees the retailers pay banks when customers use debit cards. banks collected about $15 billion in swipe fees from retailers last year. under financial reforms in 2010 congress ordered the federal reserve to cut the fees for banks. the fed did from about $0.44 on an average transaction of $40 set up $0.24, but retailer said that was still too high and sued the fed in court. two weeks ago that one in a statement bankers called the decision a windfall, especially for big change saying the price con