Stocks remain down this afternoon as investors worry not only about the looming government shutdown but also that a likely standoff over raising the nation's borrowing limit in a couple of weeks could push the country to a default. The Dow remains about 100 points lower on the day, while the Nasdaq and the S&P 500 are seeing relatively smaller declines.
- As expected, the Senate has rejected conditions House Republicans have put on a temporary spending bill intended to avert a government shutdown. President Barack Obama says he hasn't given up hope that the shutdown can be avoided. Speaking to reporters at the White House, Obama says he plans to speak to congressional leaders today and in the days ahead to address both the need for a temporary spending bill and the impasse over raising the nation's borrowing limit.
- House Republicans' insistence on removing money for implementation of the health care law may shut down parts of the federal government starting at midnight, including the National Zoo's pandacam, but it won't keep a key part of "Obamacare" from rolling into action. The new health insurance markets will open around the country tomorrow, because most of the program is paid for with money not subject to congressional appropriations.
- American Airlines plans to recall all of the pilots it's furloughed and hire 1,500 more over the next five years. American plans to start recruiting this fall and is already hiring 1,500 new flight attendants. While the airline remains under bankruptcy protection, it earned $71 million in August. It's also seeing an unusually large number of pilots hitting the new mandatory retirement age of 65.
- Delta Air Lines is looking to replace those heavy cases of manuals and maps pilots carry with tablet computers. The airline says it will buy 11,000 Microsoft Surface 2 tablets for its pilots. Delta says that will save $13 million per year in fuel and other costs. The flight bags that each pilot currently carries weigh about 38 pounds.