corporate jets

Some proposals for taxes to pay for the jobs bill may sound familiar to Americans, like higher taxes on the rich and an end to some tax breaks like the one on corporate jets.

If you own a big tech firm, you aren't Microsoft, and you weren't named in the patent lawsuit filed this week by Paul Allen's Interval Licensing, well... you're probably looking deep into your soul today and asking where it all went wrong.

If you aren't a defendant - which includes AOL, Apple, eBay, Facebook, Google and Yahoo! - why not? After all, the technology in dispute is, according to Interval, "fundamental to the ways that leading e-commerce and search companies operate today." Dammit, you say to yourself.

Maybe you aren't one of those leading e-commerce and search companies.

A number of executives of banks that received federal bailout money have continued to use corporate jets for personal use despite controversy over such perks, according to a report Friday.

Cessna Aircraft Co., the nation's largest builder of corporate jets, has announced an additional 1,300 layoffs.

The cuts mean the company will have slashed its work force in half since the recession began. The recession has hurt demand for corporate jets.

Cessna Aircraft Co., the nation's largest builder of corporate jets, said Friday it is laying off another 1,300 workers, raising the number of jobs eliminated to half of its work force since November as the recession has depressed demand for its planes.

Textron Inc., which makes Cessna planes, Bell helicopters and turf maintenance equipment, says its first-quarter profit sank 63 percent on lower sales of corporate jets.

It also slashed its 2009 earnings forecast.