text: ======================== THE MOTLEY FOOL ========================
                     B R E A K F A S T   N E W S
                      Thursday, September 20, 2001
  benjamin.rogers@enron.com
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  IN THIS ISSUE
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  - TOP STORY: Government Accelerates Aid to Airlines
    http://www.fool.com/m.asp?i=499856
  
  - NEWS TO GO: Knight-Ridder, 3Com, Tenet Healthcare
    http://www.fool.com/m.asp?i=499857
  
  - POST OF THE DAY: Biotech Stocks Anyone?
    http://www.fool.com/m.asp?i=499858
  
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  TOP STORY
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  GOVERNMENT ACCELERATES AID TO AIRLINES
  While Congress works on legislation that will provide financial aid to airlines,
  President Bush will ask lawmakers to hand over $5 billion in immediate cash
  to the shell-shocked industry. The Associated Press, quoting an anonymous administration
  official, says the cash would be coupled with help for the airlines' insurance
  liabilities.
  
  The House of Representatives hopes to rush through a $24 billion aid package
  that will be quickly sent to the Senate, and could possibly reach the president's
  desk before next week. That package would include loans as well as some cash
  that would not have to be repaid. Continental Airlines (NYSE: CAL) CEO Gordon
  Bethune says the industry is currently losing $15 million per hour, and the
  package is needed to restore some stability to the situation.
  
  In the meantime, more airlines announced staff reductions after the market closed
  yesterday. First, Mesa Air (Nasdaq: MESA) said it would cut 700 jobs and implement
  a temporary 10% pay reduction for most employees. Senior management's pay has
  already been reduced by 20%, and both the CEO and the company's president took
  a 50% cut.
  
  Later, heavyweights American Airlines parent AMR Corp. (NYSE: AMR) and United
  Airlines parent UAL (NYSE: UAL) announced layoffs of some 20,000 employees
  each. That represents 14% of American's staff, and 20% of United's. Following
  Boeing's (NYSE: BA) actions Wednesday, job cuts now total almost 100,000
  people industry wide.
  http://www.fool.com/m.asp?i=499860
  
  One company bucking the layoff trend, however, is SkyWest Airlines (Nasdaq:
  SKYW). COO Ron Reber says no layoffs are in the works. The company's "plans
  for growth are still intact," he says, and it still plans to take delivery of
  the 106 Canadair Regional Jets it ordered from manufacturer Bombardier. SkyWest
  operates as United Express and Delta Connection in 74 cities.
  
  >>FULL STORY:
  http://www.fool.com/m.asp?i=499861
  
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  NEWS TO GO
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  Media companies have also been adversely affected by the terrorist attacks.
  Knight-Ridder (NYSE: KRI) and Tribune Co. (NYSE: TRB), which teamed up
  in August to acquire online job recruitment site Headhunter.NET (Nasdaq: HHNT),
  both came out with bad news after the bell yesterday. Knight-Ridder CEO Tony
  Ridder says many advertisers pulled ads after the attacks, and, combined with
  the increased expenses due to extended coverage of the tragedy, he expects about
  a 25% year-over-year drop in earnings per share. Citing the same reasons, Tribune
  expects third-quarter and full-year earnings to come in below expectations.
  http://www.fool.com/m.asp?i=499862
  
  The Securities and Exchange Commission says it doesn't yet know if those associated
  with last Tuesday's hijackings also exploited the markets in order to profit
  from the attacks. The agency says it's "vigorously pursuing all credible leads,"
  but wouldn't release any other details.
  
  Networking equipment maker 3Com (Nasdaq: COMS) reported fiscal first-quarter
  results that saw revenue fall 58% from the same period last year. The company
  also "found opportunities" to reduce staffing by another 1,000 people and expects
  to end the quarter with 6,000 workers. It employed 12,000 last November.
  
  The nation's number-two hospital operator, Tenet Healthcare (NYSE: THC), says
  it will top estimates when it releases fiscal first-quarter earnings on Oct.
  3. Its expected earnings per share of $0.65 - $0.67 would represent 35-40% growth
  over last year.
  
  Rex Moore's mental acuity has shown a 3%-5% year-over-year decrease, though
  it's up inconsequentially sequentially. At press time he held no positions in
  any of the companies mentioned in this article. The Motley Fool is investors
  writing for investors.
  http://www.fool.com/m.asp?i=499863
  
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  POST OF THE DAY
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  BIOTECH STOCKS ANYONE?
  "I think the safest long term Biotech offerings are the larger pharmaceutical
  manufacturers who are very active in R&D and or acquisitions AND are diverse
  in their product markets."
  
  >>FULL POST:
  http://www.fool.com/m.asp?i=499864
  
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