Monday's Consumer Headlines - | WBTV Charlotte

Monday's Consumer Headlines

CHARLOTTE, NC (WBTV) -- Insurance giant A-I-G is getting another government bailout.

Just like it did with the banks, the Federal Reserve will buy 40-billion dollars worth of A-I-G shares making taxpayers part owners of the company.

This is all part of that 700-billion dollar Wall Street Bailout package.

So far, 150-billion dollars in aid have gone to A-I-G.

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Concerns tonight that the economy could leave empty space at Charlotte Douglas.

DHL which built this cargo shipping facility at the airport in 2006, announced more cuts today.

The German-based company will close all its express service centers in the U-S and lay-off 95-hundred employees.

It's part of a wider plan to drastically scale back American operations.

D-H-L blames competition from FedEx and U-P-S.

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Electronics retailer Circuit City is filing for Chapter 11.

The troubled company announced last week it was closing 155 stores including this one in University City.

Chapter 11 protection allows it to hold off creditors while it develops a financial plan.

Banking experts say this is a sign of things to come this holiday shopping season...

"Major implications for retailers because essentially going bankrupt when you're heading into the Christmas holiday season is a real sign that we're not going to have a good holiday season, and we've already seen a number of retailers come out with weak Q3 results," says UNC-Charlotte banking professor Tony Plath.

 

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