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Judge denies $20M severance deal for AMR CEO

American Airlines CEO Tom Horton - AP

A federal bankruptcy judge has at least temporarily blocked a proposed $20 million severance payment for the CEO of American Airlines as part of the company's merger with US Airways. The judge ruled Thursday that the proposed payment to CEO Tom Horton exceeded limits that Congress set for bankruptcy cases in 2005.

 

Postal Service: House must act to stem mail losses

U.S. Postal Service

The nearly bankrupt U.S. Postal Service is urging the House to quickly pass legislation to let it close low-revenue post offices and eliminate Saturday delivery.

 

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