IN BRIEF
KANSAS CITY, Mo. — H&R Block Inc. said today it lost a larger-than-expected $133.6 million in the first quarter, about the same as a year ago, as acquisition expenses and other costs offset slightly higher revenues.
The nation's largest tax preparer typically records losses in its first two fiscal quarters outside the normal tax season.
The Kansas City-based company said its loss amounted to 40 cents per share. It lost $132.7 million, or 41 cents per share, in the year-ago quarter.
Not including discontinuing operations, the company said it would have lost 39 cents per share, slightly above the loss of 37 cents a share expected by analysts.
Revenue edged up 1.3 percent to $275.5 million from $271.9 million but fell short of analysts' expectations of $280 million.
WASHINGTON (AP) — The government has approved $500 million in reimbursements to car dealers for sales under the Cash for Clunkers program and dealers should be paid by late September, officials said Thursday.Auto dealers have complained that the Obama administration has been slow to pay them for the car purchase incentives of up to $4,500. The rebates led to 690,114 new sales at a taxpayer cost of $2.88 billion.A Transportation official said 120,000 submissions from dealers, or about 17 percent, have been approved under the program, which ended on Aug. 24. The official, who spoke on condition of anonymity, was not authorized to speak publicly about the data before a congressional briefing.All eligible and completed dealer submissions should be fully paid by Sept. 30, the official said. The official said the government is ramping up staff and 5,000 workers will be reviewing paperwork by the end of next week. About 3,000 government and private sector workers are currently working on the project.
MIAMI — Flying a Boeing 727 around the world might sound like a dream. But pilots for a Florida air cargo company claim their job is a nightmare that includes no sick pay, shrinking wages and no place to use the bathroom on flights but a plastic bag.Sixty-two pilots and flight engineers for Fort Lauderdale-based Amerijet International Inc. went on strike on Aug. 27. Among their demands is flushable toilets on board. Their union has been trying to negotiate a new contract the past five years.Its Florida workers say they're suffering. On the picket line in heavy rain Thursday, pilot Dawn Leschinski held up an 18-inch green plastic bag."This is actually the bathroom that we're expected to use on Amerijet airplanes," she said.Because full bags can't be easily discarded, they accumulate on longer flights, leaving a heavy stench.
