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Boeing Co said that it would stop making its distinctive-looking C-17 military transport plane in 2015 due to faltering sales, and would lay off 3,000 employees involved in the 30-year-old program. The company said it will try to place employees elsewhere in the company. The move also affects more than 650 suppliers in 44 U.S. states, who employ about 20,000 people.
Union members who work for American Airlines and US Airways Group rallied on Capitol Hill, urging the U.S. Justice Department to drop its opposition to a planned merger between the two airlines.
Call it a perfect management storm. J. Crew CEO Mickey Drexler is joining the board of Warby Parker, the hip startup that's credited with disrupting the eyewear industry.
Chairman Ben Bernanke says there is "no fixed schedule" date or "magic number" for when the Federal Reserve will start to slow or end its bond purchases. During a news conference after the meeting, Bernanke said the Fed could still reduce the $85-billion-a-month in bond purchases later this year. But he said that hinges on the economy showing sustained improvement.