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Interview: Historic event at the Air Zoo

Updated: Tuesday, May 13, 2014 |
Interview: Historic event at the Air Zoo story image
KALAMAZOO, Mich. (NEWSCHANNEL 3) - The Air Zoo is getting ready to host what they're calling an historic event which will support STEM education in our area schools.

Here to tell us more was CEO Troy Thrash.

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Last Update on November 24, 2015 18:07 GMT


WASHINGTON (AP) -- U.S. home prices rose in September from a year earlier at the fastest pace in 13 months as a lack of houses for sale has forced buyers to bid up available properties.

The Standard & Poor's/Case-Shiller 20-city home price index increased 5.5 percent in September compared with a year ago, the largest annual gain since August 2014.

Steady job gains and low mortgage rates have propelled a solid rebound in home sales, which are on track to reach the highest level since 2007. The unemployment rate fell to 5 percent in October as employers added the most jobs since December. Borrowing costs have ticked up but remain below 4 percent, a low level historically.

San Francisco reported the largest annual gain, at 11.2 percent, followed by Denver at 10.9 percent.


WASHINGTON (AP) -- Confidence in the economy eroded this month as Americans became more worried about the job market.

A business research group's consumer confidence index fell to 90.4 in November, down from 99.1 in October.

The share of Americans surveyed by the Conference Board anticipating more jobs in the coming months fell. Fewer people also expect to see their incomes increase. The percentage describing jobs as "plentiful" declined to 19.9 percent from 22.7 percent.

The decline in the confidence index comes after a robust month of hiring in October. Employers added 271,000 jobs last month as the unemployment rate settled at a healthy 5 percent.


WASHINGTON (AP) -- The U.S. economy grew at a slightly faster rate in the summer than previously reported, largely because of a less severe slowdown in businesses stockpiling.

The Commerce Department says that the overall economy as measured by the gross domestic product grew at an annual rate of 2.1 percent in the July-September period. That is better than a previous estimate of 1.5 percent growth.

Even with the revision, economic growth slowed sharply from a 3.9 percent gain in the second quarter. The economy then was rebounding from a harsh winter that had slowed first quarter growth to a barely discernible 0.6 percent pace.

Economists are forecasting that growth will accelerate to around 2.5 percent in the current quarter as a healthy labor market and falling gas prices fuel stronger consumer spending.


WASHINGTON (AP) -- U.S. banks' earnings rose 5.1 percent in the July-September quarter from a year earlier, largely because of a drop in legal expenses for the largest financial services companies.

The Federal Deposit Insurance Corp. says that profits reached $40.4 billion, up from $38.4 billion in the third quarter of 2014.

The data illustrates the steady improvement in bank's health since the financial crisis in 2008. Nearly 60 percent of banks insured by the FDIC reported higher quarterly earnings compared with a year ago. The number of unprofitable banks fell to just 5 percent, down from 6.6 percent a year ago and the lowest in more than a decade.

Just one bank failed in the third quarter, a far cry from the two or three that failed each week in 2009.


NEW YORK (AP) -- Pinnacle Foods is buying Boulder Brands for about $710 million in a move that adds a line of health and wellness food brands to Pinnacle's offerings that include Birds Eye frozen foods, Duncan Hines frosting and cake mixes.

The buyout comes as food producers try to meet changing consumer tastes, which trend toward healthier offerings.

Boulder Brands, based in Boulder, Colorado, makes Smart Balance as well as brands including Udi's, Glutino gluten-free products.

Under the deal, Pinnacle will pay $11 per share, a 9.2 percent premium to Boulder Brands' closing price on Tuesday. The deal also involves about $265 million in debt.

The deal is expected to close in the first quarter of 2016.


CAMDEN, N.J. (AP) -- Campbell Soup's fiscal first-quarter adjusted profit easily topped analysts' estimates and it increased its full-year earnings forecast, citing an improved margin outlook for the year.

Campbell's shares rose more than 4 percent in today premarket trading. For the period ended Nov. 1, the Camden, New Jersey-based company earned $194 million, or 62 cents per share. That compares with $248 million, or 78 cents per share, a year ago.

Revenue came in at $2.2 billion, meeting Wall Street forecasts.

The company lowered its full-year sales outlook due to pressures from currency translation. It now anticipates sales being flat to down 1 percent.


CHESAPEAKE, Va. (AP) -- Dollar Tree Inc. (DLTR) reports fiscal third-quarter net income of $81.9 million.

The Chesapeake, Virginia-based, discount retailer posts revenue of $4.95 billion in the period, surpassing Street forecasts. Ten analysts surveyed by Zacks expected $4.84 billion.

For the current quarter ending in January, Dollar Tree says it expects revenue in the range of $5.32 billion to $5.42 billion.

The company expects full-year revenue in the range of $15.45 billion to $15.55 billion.


LANSING, Mich. (AP) -- Fiat Chrysler will have to spend an additional $1 billion on Michigan facilities over 15 years to qualify for $1.9 billion in business tax credits under an agreement approved today by the state's economic development board.

The deal, the second with a Detroit Three automaker this year, is designed to help Michigan get a better handle on billions in tax incentives given to keep auto jobs in the state, primarily during the economic downturn. The redemption of higher-than-expected credits led to mid-budget year spending cuts in February.

The agreement amends a 2010 deal between what was then Chrysler Group LLC (now FCA US LLC) and the former Michigan Economic Growth Authority. The carmaker at the time was offered what was projected to be $1.3 billion in tax credits through 2031 for a maximum of 20,000 retained jobs in the state.

The credits are worth more, though -- nearly $2 billion -- because of higher wages and other factors.

The new deal caps Fiat Chrysler's maximum credits at $1.93 billion through 2029 and gradually increases the number of retained jobs the company can claim to 27,000. It also set annual limits on the tax credit value that may be claimed in a given year.


AUSTIN, Texas (AP) -- A Texas solar company must pay $8.5 million for importing unsafe panels from China and falsely labeling the items as U.S. made.

The Texas Attorney General's Office on Monday announced the penalties and permanent injunction against 1 SolTech Inc. of Richardson. The Dallas-area company filed for bankruptcy last year amid the 2013 lawsuit.

The company and three executives agreed to stop misrepresentations on origin and certification of solar panels labeled "Made in the USA."

Investigators determined the China-made panels, including some installed at American military bases and airports, represent a fire hazard for not conforming to U.S. safety standards. American-made materials were required to be used for the taxpayer-funded projects.

The AG's office says 1 SolTech will pay $5.8 million in penalties and legal fees, plus $2.7 million to customers.