Cab company said to reach deal with would-be driver
A one-armed man who was rejected as an applicant for a taxi driving job won a $30,000 settlement from Vegas Western Cab Co., the Equal Employment Opportunity Commission said Thursday.
The commission said it reached a settlement with the taxi company in the lawsuit it filed on behalf of Joel Walden, a single-arm amputee.
When he applied for job as a taxi driver in 2006, Walden met all the requirements in the taxi job announcement, was experienced as a driver and had a clean driving record, the commission said. However, the taxi company refused to hire Walden because of his disability, the EEOC said.
The government agency sued Vegas Western last year, alleging that the rejection violated the Americans With Disabilities Act.
An attorney for Vegas Western declined to comment on the settlement, and the company didn’t return a call for comment.
Higher energy costs help drop Alcoa profits by 21 percent
Alcoa Inc. said Thursday its net income slid about 21 percent in the third quarter on higher foreign exchange and energy costs.
The Pittsburgh aluminum maker on Thursday reported net income of $61 million, or 6 cents per share, for the three-month period ended Sept. 30. That compares with earnings of $77 million, or 8 cents per share, a year earlier.
Revenue rose 14.6 percent to $5.3 billion.
The results beat Wall Street expectations of 5 cents a share on revenue of $4.95 billion.
Alcoa said aluminum prices increased nearly 15 percent year over year to $2,261 per metric ton.
Rates for 30-year mortgages fall for ninth time in 12 weeks
Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks, pushed down by traders anticipating a move by the Federal Reserve to pump more money into the economy.
The average rate for 30-year fixed loans dropped to 4.27 percent, mortgage buyer Freddie Mac said Thursday. That’s the lowest on records dating back to 1971, and down from 4.32 percent the previous week.
The average rate on 15-year fixed loans, a popular choice for refinancing, dropped to 3.72 percent from 3.75 percent. That was lowest on records dating back to 1991.