The Charlotte Observer from Charlotte, North Carolina • 37

Mmni (Tljc CCIjarlottc Observer US AIRWAYS CUTS 2500 JOBS I 1A Airline also says it needs employees to make more concessions WORLDCOM SETTLES WITH SEC I 2D Deal on fraud charges may help phone company avoid fines wwwcharlottecom WEDNESDAY lOYEMBEt 27 2602 SECTION EMPLOYMENT TRENDS Layoff numbers remain heavy for Carolinas SONIC CEO Smith: not going to And consumers are confident again about the same as for all of 2000 The hiring picture all bad news The Charlotte area should see moderate job gains in the first quarter of next year according to the Manpower Inc Employment Outlook Survey released Tuesday Of employers surveyed by Manpower 22 percent said hire in the first three months of the new year while 8 percent expect to cut jobs and 67 percent expect no change The rest were uncertain a better picture than three months ago when fewer employers said they would hire For October the Carolinas show a mixed picture: In North Carolina 12 mass layoffs those of 50 or more employees took out 1494 jobs in SEE EMPLOYMENT I 6D WHERE TO FIND JOBS 6D 1 Area hot spots for next year Economists fear yo-yo economy is making employers nervous about expanding hiring By Charles Lunan Staff Writer The US economy grew faster in the third quarter than previously thought and confidence rebounded in November While that may be good news for retailers some economists say State of the Economy The GDP surged in the third quarter but some fear the gains will sap fourth-quarter numbers SOURCES Commerce Department The Conference But Manpower Inc reports optimistic view for 1st quarter of 2003 By Amber Veverka Staff Writer More Carolinians lost their jobs in October mass layoffs than in the previous month a report released Tuesday shows What appears more ominous: The layoff numbers are the same or worse than two years ago when terrorist attacks a factor sort of a half-full half-empty said Michael Wald regional economist for the US Bureau of Labor Statistics There were fewer layoffs in October than a year ago he said But bottomed out in the Already this year the nation has seen 15649 mass layoffs Daily Briefing The Markets Stocks drop on concerns US stocks fell amid concern the pace of economic growth is slowing even as a survey showed consumers are starting to regain confidence Benchmark indexes had their biggest losses in more than two weeks American International Group to $6235) declined as some investors said flight cuts at AMR American Airlines may harm the aircraft over economic growth -17298 to 8676 42 AT CHARL0TTED0UGLAS Airport ready for holiday test leasing business Eli Lilly to $64) dropped after an analyst discouraged investors from buying the stock because of competition for Zyprexa schizophrenia drug BLOOMBERG news new reports show ventories But she said the gains probably came at the expense of fourth-quarter growth She also said that while businesses may be moving more merchandise they are making less money on it coming at the cost of declining Martin said are continuing to build inventory expecting sales but they are having to offer greater deals and making less money per item than in the The brightest spot on the horizon continues to be a buoyant consumer The Conference Board reported Hiesday that con-SEE ECONOMY I 6D Meanwhile new home sales in October slipped though it was still the third-best month on record 12 million Seasonally adjusted 10 08 06 04 02 0 0NDJ FMAMJ JAS0 Quick Travel Tips The busiest days win be today and Sunday but air travel will be heavy all week GENERAL INFORMATION Arrive an hour and a half early: Pass through security gates and relax at a terminal restaurant or bookstore Dress smart: No sharp objects do not wear metal shoes or jewelry Pack smart: Prohibited items include metal scissors box cutters baseball bats golf clubs hockey sticks pool cues ski poles firearms tools mace bleach lighter fluid strike-anywhere matches Use any of the four security checkpoints to get through the gates The most under-used gate Tuesday was the new one at Concourse MORE QUESTIONS? Call your airline: US Airways customer service line is (800) 428-4322 Or go to the federal Transportation Security Administration Web site at wwwtsatraveltipsus TRANSPORTATION SECURITY ADMINISTRATION AND STAFF REPORTING the third-quarter spurt may have cut into sales for manufacturers in the current quarter The Commerce Department on Tuesday revised upward its estimate of the gross domestic product for the third quarter to 4 percent from 3d percent citing new data that showed business inventories surged over the summer A measure of the total value of goods and services produced within the United States the GDP is regarded as the best barometer of overall economic activity Wachovia Corp economist Gina Martin called gains in furniture appliance consumer electronics and home furnishing in Still confidence among consumers who have been keeping the economy moving rebounded in November j2Q Seasonally adjusted 1985100 100 -40 -20 -0 NDJ FMAMJ JASON Board Associated Press through security gates at airport is expected to surge from 36000 today to 41000 Sunday On a normal day about 21000 people pass through the Charlotte airport security systems For many it will be their first exposure to the new Transportation Security Administration which has taken over screening at 424 airports during the past eight months Officials with the agency said they were aiming for wait times of 10 minutes or less in most lines in Charlotte like to think there is a hassle Garabato said The officials encouraged passengers to use the newest checkpoints near the entrances of Concourses and Lines were shorter at those checkpoints than others closer to the US Airways counter While the TSA is working toward installing 15 machines to scan checked bags for explosives the airport currently has just one It is used to scan bags from only a small sampling of passengers Traveler Lucas Reilly flying in from Chicago Tuesday to meet his parents said his flight was perfect and security seemed efficient Guards had asked about a round tin he was carrying to transport apple and pumpkin pies SEE TRAVEL I 6D Auto chain's founder says no succession set By Leigh Dyer Staff Writer Bruton Smith chairman and CEO of Sonic Automotive Inc says he has no plans to step down from the Fortune 500 company he founded not going to retire he told The Observer have no successorship On Nov 14 the Charlotte-based chain of auto dealerships announced five executive promotions including the ascension of Bruton son Scott Smith to the post of vice chairman and chief strategic officer said the com Scott Smith Scott Smith pany was working on a successorship plan in anticipation of his father eventually stepping down likely more than a year away Later Bruton Smith told The Observer he has no intentions of stepping down William Be lk a member of the Belk Group and also an independent member of the Sonic Automotive board of di- SEE SONIC I 2D Doug Smith New Park Phillips homes going fast Floor plans fashioned after those in suburbs Developers do their best to size up the market when they start a new residential project but finding buyers is never a sure thing Renaissance Development listened to its sales and marketing team when it launched Park Phillips townhomes early this year on Sharonview Road across from the Mountain-brook neighborhood Bissell-Hayes Realtors told them that buyers in that area of south Charlotte most likely would want something resembling a suburban h5me with downstairs master bedrooms spacious kitchens and two-car garages So what happened? Fourteen of 23 townhomes in the $138 million first phase have sold in advance of the spring completion date and Renaissance is so certain the rest will sell that preparing to start a $4 million second phase in February or March first units to sell were the two biggest ones about 3800 square feet said SEE SMITH I 3D MUELLER -STAFF PHOTO US Airways passenger Lou Criscuolo shows his ID on Monday at CharlotteDouglas International Airport before boarding for New York Volume is expected to peak today Thursday and Sunday Travelers might want to use the checkpoints near the entrances of Concourses and I I 1 3 i I I I i The Carolinas Wachovia gives some customers $5 for movie BANKING Wachovia Corp passed out $5 Blockbuster movie cards this month to customers who were not able to use their Visa ATM and debit cards for less than an hour Nov 19 a bank spokeswoman said Tuesday A computer glitch within the Visa system disrupted service for about 600000 Visa Corp ATM or debit cardholders worldwide that day said Visa spokeswoman Janet Yang While the disruption was felt by customers at a variety of banks it affected less than 2 percent of Visa cardholders and the problem has been Yang said Bank of America Corp said it also had customers that were affected but the bank did not provide any atonement do regret that customers were Bank of America spokeswoman Lisa Gagnon said working with Visa to investigate the issue further and to assure it happen SARAH JANE TRIBBLE Monroe-based bank set for SouthPark location BANKING American Community Bank said it plans to open an office in SouthPark next year The Monroe-based bank will move in February into offices at 4500 Cameron Valley Parkway that are now occupied by a First Charter Corp branch both banks announced in a news release this week The location will be American eighth branch in the Charlotte area In addition the bank is moving its holding company American Community Bancshares to the SouthPark locatioa The bank itself will remain based in Monroe The Charlotte-based First Charter plans to consolidate its offices in the area to a newly renovated location at 6310 Fairview Road SARAH JANE TRIBBLE 11 of 14 NC HMOs report profits in 3rd quarter HEALTH CARE Most of North HMOs had profitable third quarters according to a report released this week by the NC Department of Insurance Of the 14 HMOs that report net income for their NC operations only three Cigna Dental Health of North Carolina QualChoice of North Carolina and Optimum Choice of the Carolinas had losses an improvement from the same period of 2001 when 10 of the licensed HMOs reported losses Health-care experts attribute the improvement to premium increases mike stobbe 500-plus security staff aims to keep wait under 10 minutes By Sarah Jane Tribble Staff Writer It was the calm before the storm at CharlotteDouglas International Airport Tuesday afternoon Passengers and those waiting for them saw few lines and a quick smooth operation but airport workers said they were just gearing up for today got a great game plan to said Manolito Gara-bato the local security director for the federal Transportation Security Administration More than 500 security officials are working at the airport this holiday with overtime hours already scheduled for several days this week Thanksgiving is the most traveled holiday because many people have a four-day weekend Extra law enforcement officials are patrolling the highways gas prices have increased and buses and trains are twice as full as normal The busiest days at CharlotteDouglas are expected to be today Thursday and Sunday The number of people passing t-' i W4 "i.