Quickbites — US rail strike looms large

But Amtrak chairman Thomas Downs struck a pessimistic note this week. "We would like to have given our passengers reassurance that their daily routines would not be disrupted next week," he said. He warned that a strike, which would mainly affect the northeastern part of the United States, would disrupt services that normally handle 500,000 passengers a day.

Apple’s ratings lowered

Standard and Poor’s on Friday said it had lowered its Ratings on Apple Computer in the wake of the company’s decline in revenue and its operating losses. Apple’s corporate credit rating now is "B-" instead of "B."

In a statement, the rating agency said Apple is struggling with "extremely competitive industry conditions, a slipping market share, operating losses, and management turnover. "Although Apple has a strong position in the education and desktop publishing markets, its market presence in the higher-growth corporate and consumer markets is weak and declining," it said. Apple reported a net loss of $816 million for the fiscal year that ended September 27, 1996, and a net loss of $1 billion for fiscal 1997, the agency said.

American, Asiana Airlines tie up

American Airlines and South Korea’s Asiana Airlines have entered into a joint venture that includes code sharing and the integration of frequent flyer programs, American Airlines said here. Under the agreement, American, owned by AMR Corp., would place its AA designator code on all of Asiana’s flights between the United States and Seoul.

Frequent flyers with either airline would be able to transfer credit points to Their respective bonus clubs. The joint venture, which still requires government approval, would be effective November 20.

"Growth in the global airline community will be focused on Asia during the next several years and American wants to be part of that growth," AMR Corp. chairman Robert Crandall said. "Our joint customers will receive superior service levels given Asiana’s and American’s common focus on quality," he said.