Flaming Object Spotted Near Cleveland-Bound Continental Flight
Vacation Home Swapping to Avoid Big Tax Increases
Survey Puts Southwest on Top … Again
City of Vallejo, California Declares Bankruptcy
America’s Favorite Restaurants for Travelers
FLAMING OBJECT SPOTTED NEAR CLEVELAND-BOUND CONTINENTAL FLIGHT – USA Today
The FBI has reported that a Continental Airlines pilot spotted an object with a flaming tail and smoke trail flying in front of the Cleveland-bound plane just after takeoff. The 148-passenger Boeing 737 was “never in danger” said a spokesman from the FBI’s Cleveland office. Though still under investigation, officials have said that the object may have been a model rocket, which can reach up to 40,000 feet.
Link: USA Today
VACATION HOME SWAPPING TO AVOID BIG TAX INCREASES – SmartMoney
As the real estate market dwindles, take note of this handy tip: In the rather covert Section 1031 of the Internal Revenue Service, you can swap your vacation home for another, rather than selling it and getting hit with a huge taxable gain. Many vacation homes are priced well over the tax basis, so switching it allows you to get a new place without dealing with the monetary consequences; however, this option is only available if your property qualifies, and there are many details to be aware of. But get excited because until recently, this was only available for business and investment properties.
Link: SmartMoney
SURVEY PUTS SOUTHWEST AT THE TOP … AGAIN – Salon.com
On a scale of 1 to 100 and by using the American Customer Satisfaction Index, a University of Michigan professor and research team organized 26,000 respondents’ grades for the nation’s seven largest airlines. At the top, again, was Southwest with a total of 79 points, followed by American (62), Continental (62), Delta (60), Northwest (57), United (56), and US Airways with 54. Considering that Southwest has been at the top of the list for the past 15 consecutive years, the airline has some people wondering what is the magic ingredient for happy passengers. The University of Michigan professor who put the survey together explains that customers still buy primarily on price, and they usually ignore many other factors of the flying experience.
Link: Salon.com
CITY OF VALLEJO, CALIFORNIA DECLARES BANKRUPTCY – BusinessWeek
Despite years of warnings it was operating beyond its means, the Bay Area city of Vallejo has become California’s largest city to declare bankruptcy. Vallejo has been combating ballooning employee costs, and dwindling tax revenue due to the miserable state of the housing industry and general economy. Officials estimate that 120,000 people in the area will suffer a $16 million deficit in its fiscal year beginning July 1. As Vallejo officials make plans to lessen the toll on the city, they also hope that other U.S. cities take note of Vallejo’s mistakes. In the meantime, Vallejo Mayor Davis remains optimistic, saying, “It’s an opportunity to make our city how we want it to be. There’s only one way to go now, and that’s up.”
Link: BusinessWeek
AMERICA’S FAVORITE RESTAURANTS ORGANIZED INTO OFFICIAL LIST FOR TRAVELERS – Budget Travel
An extensive list of America’s favorite restaurants has recently been compiled, and if you decide to follow it, you could eat like a local at nearly 400 spots across the United States. In Gilbert, Arizona, Flancer’s restaurant has a lengthy list of sandwiches that feature Southwestern-style dressings, including prickly-pear glaze, orange-cranberry barbecue sauce, and chipotle mayonnaise. Monterey, California’s Wild Plum Café and Bakery has purple walls, handwritten menus, and food to match the simple eatery, such as the roast-beef sandwich served on focaccia with Gorgonzola cream, caramelized onions, and garlic aioli. In Marietta, Georgia, try Tasty China for some truly specialized Szechuan dishes. Owner Yang Da He hires only highly regarded chefs from the province who prepare some foods that are so spicy they warn hungry travelers with the words, “hot and numbing” on the menu.
Link: Budget Travel
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