The city of Renton is surviving the economic downturn so far. We are able to keep services strong and avoid staff layoffs. Most residents will not notice much change. However, our largest employer has so far been able to maintain a strong order backlog and keep up its impressive production rate. This has kept our job base strong, and helped local businesses keep these workers as valuable customers of our restaurants and retailers. This article gives some indication that these good times may not hold if the economy does not rebound soon.
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Boeing likely will suffer from global airline industry slump
Revenue decline will mean cutbacks in plane orders
By JAMES WALLACE
P-I AEROSPACE REPORTER
GENEVA — The global airline industry, which has ordered record numbers of jets from Boeing and Airbus during the past three years, is facing the worst revenue crisis since the end of World War II, the International Air Transport Association warned Tuesday.
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