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Saturday Afternoon Business Brief

September 22, 2012, 2:46 PM

Saturday Afternoon Business Brief
  • Stocks closed out the trading week with little change in Friday trading. The Dow fell 17 points to 13,579. The S&P was virtually unchanged, and the Nasdaq composite added four points.
  • Part of the focus of the coming week's economic reports will be on the consumer. The Conference Board reports on consumer confidence, and later in the week, there's a report due on personal income and spending.
  • Southwest Airlines is one step closer to flying to Hawaii. Their union says flight attendants have approved contract changes that will allow the carrier to operate flights to the islands and nearby international destinations.
  • Oracle Corp. has boosted the pay of founder and CEO Larry Ellison to $96.2 million, up from $77.6 million a year earlier. Forbes has estimated Ellison's net worth at $41 billion, third on the list of the richest Americans, behind Bill Gates and Warren Buffett.
  • General Motors is offering big discounts to boost sales of the Chevrolet Volt. The electric car has struggled to attract buyers, until its price began dropping early this year. According to the auto pricing website, discounts on the $40,000 Volt run as high as $10,000 -- meaning GM is offering the car at about half of what it costs to build one.

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