Economy Turns Further Down

Some 17,000 Delta employees, clearly worried they’ll not fly much longer, have accepted buyouts as the march of job losses in airlines, aerospace, oil, commercial real estate companies goes on. CBL Tangible Assets, “worth” about $5.1 billion, is declaring bankruptcy today, the largest U.S. commercial real estate bankruptcy so far. And another oil-exposed major regional bank reported a loss due to loan-loss provisions; Regions Financial Corporation, a $130 billion-assets commercial bank headquartered in Birmingham, Alabama, lost $1.1. billion in the second quarter.