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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (124181)	5/20/2008 12:50:18 PM
From: Jim McMannis	Read Replies (1) \| Respond to of 306849

Air Taxis Fly Into Financial Turbulence Demand for air taxis is up, but the operators are frustrated. With fares rising and commercial air service increasingly unreliable for business travelers, Ed Iacobucci figured his plan for an air taxi service would be a no-lose proposition. So why is Mr. Iacobucci shaking his head in frustration? nytimes.com An air taxi owned by DayJet, an on-demand service, prepared for takeoff recently from Boca Raton, Fla. The reason: Just as his company, DayJet, had proved that there was a business in using small jets for short-haul, on-demand service and was poised to expand its market, the credit market froze. DayJet was unable to raise $40 million it needed to grow, Mr. Iacobucci said. Expansion plans were postponed and the company laid off 100 of its 260 workers.