Daily business briefing: Jack Schmitt building new Chevy dealership in Wood River

News-DemocratMay 15, 2014 

Jack Schmitt Chevrolet of Wood River has broken ground on a new state-of-the-art dealership in Wood River.

Fairview Heights-based Impact Strategies is developing the 11-acre site at 1870 E. Edwardsville Road. The new dealership will take the place of Schmitt's existing Chevrolet lot at 1401 Vaughn Road in town. The new dealership is scheduled to open by September.

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A new forecast for the summer vacation season reports that more travelers will be buying airline tickets this summer. The survey has found that about 210 million passengers are expected to fly on U.S. carriers between June 1 and Aug. 31 -- up 1.5 percent from last summer and the highest level in six years. Read more at http://www.bnd.com/business. ...

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Malaysia Airlines has suffered net losses of $137.8 million during the first quarter. It was the fifth quarterly loss for the airline, which has been in the news since its Flight 370 disappeared two months ago. Find out more at http://www.bnd.com/business. ...

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General Motors added five more recalls. The auto maker has recalled more than 11 million vehicles this year. The latest is a recall of almost 2.7 million more cars and trucks to fix problems with brake lights, headlamps and power brakes. Learn more at http://www.bnd.com/business. ...

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The first-quarter net income recorded by Wal-Mart is down 5 percent from a year ago. The world's largest retailer has reported that the past winter affected business. The company's stock fell by about 3 percent in premarket trading Thursday. For more information, go to http://www.bnd.com/business.

-- Will Buss, BND business writer

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