Business News

Delta Connection is adding daily nonstop Canadair regional jet service between Asheville, N.C., and Delta hubs in Atlanta and Cincinnati.

While the depressed economy has the rest of the state scrambling to fill empty hotel rooms, a resort company has begun a 1,000-room expansion in this Florida Panhandle city.

Regions Financial Corporation today announced earnings for the quarter and year ended December 31, 2001. Net income totaled $138.2 million for the fourth quarter of 2001, compared to $128.4 million for the fourth quarter of 2000.

Construction of new homes and apartments fell 3.3 percent in December but the total housing activity for the year managed a solid 2.2 percent increase, a remarkable achievement for an industry that normally is one of the hardest hit during a recession.

The drop in air travel after the Sept. 11 attacks hurt earnings of Northwest Airlines Corp., which reported a fourth-quarter net loss of $256 million Thursday, excluding a federal airline bailout grant and other nonrecurring items.

Citigroup said Thursday its earnings rose 37 percent in the fourth quarter, narrowly beating analysts' expectations, despite charges for bad loans to Argentina and the bankrupt Enron Corp.

General Electric Co. said Thursday its fourth-quarter earnings rose 10 percent, to $3.93 billion, despite a weak economy and the terrorist attacks.

Amid speculation Kmart Corp. could seek bankruptcy protection, the troubled retailer announced on Thursday some sweeping management changes and said it was continuing to review its finances.

The government wants more meat processors to change the way their products are inspected, although congressional investigators say there's no proof the new system is as safe as the traditional program.

Ford Motor Co. posted a $5.07 billion loss for the fourth quarter of 2001, mostly due to heavy costs related to its recently-announced restructuring plan.