6at4 Business Report: Macy's, Presidential Coins, Southwest Airlines
December 13, 2011 (WPVI) -- One retailer is making more hours available to shop, but the U.S. Mint is cutting back on some coins.
Presidential $1 production cut
WASHINGTON (AP) - December 13, 2011 The presidential dollar coin is falling victim to Washington's cost cutting efforts.
The Obama administration is stopping nearly all production of the coins, which carry the likeness of every deceased President. The effort will save taxpayers $50 million a year in production and storage costs.
In 2005, Congress mandated that the United States Mint issue the coins. But the White House says more than 40 percent of the coins are returned to the Federal Reserve because nobody wants to use them.
Instead of producing 70-80 million coins per deceased president, the Mint will now only produce as many as collectors want.
The announcement is part of the White House campaign to cut back on government waste.
New jet production climbs
New planes are on the horizon for Southwest Airlines, the 2nd busiest carrier at Philadelphia International Airport. In a $19 billion dollar deal, Southwest became the first carrier to order Boeing's 737 MAX, buying 150 of the more-efficient planes and 58 other 737s.
Macy's open extra holiday hours
Macy's is buying more time for all you procrastinators and night owls. The retailer is keeping some of its stores open for 3 days straight starting December 21st. So, no excuses for not getting a gift!
Follow this link to get the latest on the hours of a Macy's store near you.
6at4, stock market, economy, macy's, southwest airlines, president barack obama, business/finance
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