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The wholesale inflation report from July is out this morning and shows the largest monthly producer price jump in 27 years, 1.2%. That's more than double what was forecast. Wholesale milk prices nationally rose 5%.

The Airline Transport Association predicts 6% fewer people flying U.S. airlines this Labor Day holiday. The association crunches the numbers based on a travel period that starts a week from tomorrow and runs through the following Monday.

Continental Airlines says it will furlough up to 180 pilots after labor day as it gears down for the slower fall flying season. Continental earlier said it needed to bring the job count down by 500 so this means two thirds took early retirement or buyouts.

From our who's-new-at-that-desk desk. Guess who's new at the CEO desk at the Chicago wireless services company Sparkplug Incorporated? It's former Hawaiian Telcom CEO Mike Ruley, hired so the current CEO and move up to chairman and delegate for a change.

And Charles Morrison, president of the East-West Center, has been re-elected chairman of the Pacific Economic Cooperation Council. He's the first American in the chair since 1993.

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