REGION

REGION
Economic activity flat
CLEVELAND -- A report from the Federal Reserve Bank said economic activity expanded little in the region in the last quarter. In manufacturing, production of durable and nondurable goods was flat. Domestic steel shipments slowed but remained substantially higher than a year ago. Retail sales were largely unchanged in recent weeks. Demand for trucking and shipping services was robust.
NATION
Pilot retirements at Delta balloon
ATLANTA -- The number of Delta Air Lines Inc. pilots who retired effective Wednesday, the day a 32.5 percent pay cut went into effect, ballooned to 229, more than three times as many as in November. A union spokeswoman said 197 were early retirements. The normal pilot retirement age at Delta is 60. The news comes a few weeks after pilots ratified the pay cuts agreement with management. Without the $1 billion in pilot concessions, Atlanta-based Delta warned that it would have to seek bankruptcy protection.
FUEL
Oil prices plummet
NEW YORK -- Oil prices plunged more than $3 a barrel Wednesday -- the largest single-day decline in more than three years -- after the U.S. government reported large increases in the nation's fuel supply, easing fears of a supply crunch as winter approaches. After months of fears about global supply constraints at a time of surprisingly robust demand, traders' concerns had recently crystallized around heating oil supplies and weather forecasts in the United States. Those concerns were tempered on Wednesday after the Energy Department reported that the nation's supply of distillate fuel, which includes heating oil, grew by 2.3 million barrels last week to 117.9 million barrels.
FOOD INDUSTRY
SpongeBob-nappings
JACKSONVILLE, Fla. -- Evil Plankton is the obvious suspect, but landlubbers are more likely to blame for a nationwide rash of thefts of 9-foot-tall and 9-foot-wide SpongeBob SquarePants inflatables propped on the roofs of Burger King restaurants. More than 50 SpongeBob-nappings have been reported from Florida to Utah since the pop icon started appearing on fast-food restaurant rooftops in a promotional tie-in with his movie Nov. 11. Employees at a Burger King near Palatka are among the latest to report the theft of the $500 balloon last weekend. "We don't have any theories. SpongeBob SquarePants is kind of a fad. It could be a childhood prank or an adult trying to get a fad item for Christmas," Putnam County sheriff's Lt. Steve Rose said Wednesday.
AUTOS
Toyota recalls 92,577 Celicas to fix lights
WASHINGTON (AP) -- Toyota Motor Corp. is recalling 92,577 Celica cars because their daytime running lights are too bright and could be a hazard to oncoming drivers, federal regulators said Wednesday.
The recall affects Celicas from the 2000 and 2001 model years. Dealers will repair the vehicles for free beginning in March, the National Highway Traffic Safety Administration said.
NHTSA also said General Motors Corp. will recall 1,378 of its new Chevrolet Cobalt coupes because a headlight bulb shield can loosen or break. Without the shield, the lights cause too much glare. Dealers will install new shields free.
NHTSA has gotten thousands of complaints about headlight glare in the last few years. In October, the agency said it has shut down 24 suppliers of kits that allow drivers to install their own high-intensity headlights.
Vindicator staff/wire reports