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commander of Hamas, the Islamist militantgroup and political movement that runs Gaza.
It was unclear whether Thursday’s troopmovements were designed to intimidate Israel’sfoes or to lay the groundwork for an invasion.Israel’s leaders have said they are ready tolaunch a ground assault if rocket fire continues.
Early Friday, Israeli aircraft pummeledrocket launching operations of Gaza militants,the Associated Press reported.
“The situation has all the elements and dy-namics that could lead us down the road to aplace we haven’t been before,” said Steve Cook,a Mideast specialist at the Council on Foreign
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Israel began mobilizing tens of thousands oftroops Thursday and extended its aerial and ar-tillery attacks on the Gaza Strip to a third dayearly Friday, while Palestinian militantsmounted their deepest-ever missile strikes intothe heart of Israel.
The exchanges, which have killed 19 Palestin-ians and three Israelis, broadened a conflictthat had erupted into the open Wednesday. Is-rael responded to escalating missile strikesfrom Gaza militants by launching a blitz of air-strikes that day that killed the top military
guilty to one felony count of ob-struction of Congress stemmingfrom false information it gaveabout the rate that oil was leak-ing from the well.
In addition to the settlementThursday, three former BP em-ployees were charged by a fed-eral grand jury with felonies inthe incident, two of them for al-legedly failing to carry out a crit-
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images to TV viewers. Finally, al-most three months later, the wellwas capped.
Under the agreement, BP saidit will plead guilty to 11 felonycounts of “seaman’s manslaugh-ter” relating to the deathsaboard the drilling rig, admittingthat its workers were negligentwhen they misinterpreted a keywell safety test.
The company also will plead
for the pollution unleashed whenthe drilling rig exploded in theGulf of Mexico and caused theworst offshore oil spill in U.S.history.
The oil damaged the region’simportant seafood and tourismindustries, resulting in billions ofdollars in lost revenue. Forweeks, repeated efforts to stopthe gushing crude failed, as un-derwater cameras sent the live
BP PLC agreed to accept crim-inal responsibility for the 2010Deepwater Horizon disaster thatkilled 11 workers and to pay $4.5billion in fines and restitution,the biggest penalty ever leviedby the U.S. Justice Department.
But the oil producer still facesan even costlier battle with thegovernment over civil penalties
ATLANTA—A jetliner parkedin a cavernous hangar hereboasts a gleaming paint job, 160pristine blue leather seats and anew-airplane smell. But this lat-est addition to the Delta AirLines Inc. fleet isn’t new.
Not by a long shot. The twin-engine MD-90, acquired fromChina Southern Airlines Co., ismore than 13 years old. It is oneof 49 used McDonnell DouglasMD-90s Delta is rehabbing afterscooping them up from global air-lines that were thrilled to get ridof a plane that no longer is builtby a manufacturer that long agowas taken over by Boeing Co.
Most large carriers preferfuel-sipping new planes with thelatest high-tech gadgetry. ButDelta, which has one of the old-est fleets in the U.S., is making ahabit of succeeding by ziggingwhen its rivals zag.
The nation’s second biggestcarrier stunned the industry bybecoming the first airline to buyan oil refinery, in a bid to trimits highest and most volatile op-erating cost, aviation fuel. Itruns a huge maintenance subsid-iary that tends to its own planesand does third-party work, whileother airlines have scaled downor bailed out of that business.And the Atlanta company has re-tained its status as the only ma-jor U.S. airline that is mostlynonunionized, giving it moreflexibility than its rivals even asit pays most workers more.
Today, Delta is in the catbirdseat as the U.S. industry under-goes a much-needed transforma-tion to become more like otherbusinesses that produce steadyprofits and returns to sharehold-ers. After decades of boom-to-bust overexpansion, profligatespending and chasing marketshare instead of profitability, thenew flight plan calls for pricingtickets to cover costs, pullingback in markets that don’t make
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BY TOM FOWLER
BPSlappedWithRecordFineOil Giant to Pay $4.5 Billion, Plead Guilty to Criminal Charges in 2010 Gulf Spill
BY SUSAN CAREY
Delta FliesNew RouteTo Profits:Older Jets
A woman gets help Thursday, top, after a second day of Israeli airstrikes in the Gaza Strip. Below,people huddle for safety in southern Israel after sirens warn of a rocket attack from militants in Gaza.
Have a Question on Kitchens,Flowers or Sewers? Try Ms. Hagy
i i i
Directors-for-Hire Head Trade AssociationsFor Different Groups; Convention Quirks
Meet Sarah Hagy, one busywoman. Just 30 years old, she’salready Executive Director of theInternational Kitchen ExhaustCleaning Association (“Cleaningto a Higher Standard”),the trade associationfor 250 of the world’stop stovepipe cleaningspecialists.
But that’s not all.Ms. Hagy is also Direc-tor of the Water andSewer Distributors ofAmerica, not to men-tion management liai-son to the North Amer-ican HorticulturalSupply Association. Be-fore that, she served asExecutive Director forthe International Association ofIce Cream Distributors & Ven-dors.
“I live in acronym world,” shesays.
Ms. Hagy is a director-for-hire, an employee of an “associa-tion management” company.
In the U.S., there are roughly20,000 professional and tradeassociations ranging from theInternational Packaged Ice Asso-
ciation (“Ice is Food!”)to the Real Diaper In-dustry Association(“Promoting the ClothDiaper Industry”).
The biggest employtheir own staff—950workers in the case ofthe American Bar Asso-ciation. The smallestsqueak by on volunteerlabor. But many mid-size industry groupsoutsource their staffingneeds to a managementfirm that provides ev-
erything from a mailing addressto executive support. That’swhere Ms. Hagy comes in.
The straightforward, cheerfulPleaseturntopageA4
Sarah Hagy
BY ANNE KADET
CONTENTSArt...................................... D6Books............................... D7Corporate News... B2-3Earnings......................... B4Film................................... D5Global Finance........... C3
Heard on the Street C10Music............................... D4Sports........................... D10Stocks in the News C4Technology................... B5Television....................... D2Weather......................... B6
DJIA 12542.38 g 28.57 0.2% NASDAQ 2836.94 g 0.35% NIKKEI 8829.72 À 1.9% STOXX600 265.52 g 1.0% 10-YR. TREAS. À 1/32 , yield 1.588% OIL $85.45 g $0.87 GOLD $1,713.30 g $16.20 EURO $1.2782 YEN 81.17
s Copyright 2012 Dow Jones & Company. All Rights Reserved
Vital Signs
Inflation pressures easedlast month. Consumer pricesrose as gasoline did in Au-gust and September, takingcash from Americans’ wal-lets. Recently, gas priceshave dropped, restrainingoverall inflation, which roseonly 0.1% in October. Gashas since fallen more, whichcould help consumers. Ex-cluding volatile food and en-ergy prices, prices rose 0.2%,driven by higher rent costs.
Consumer-price index,change from a month earlier
Source: Bureau of Labor Statistics
2012
–0.4
–0.2
0 0 0 0
0.2
0.4
0.6%
>
The euro-zone economycontracted in the third
quarter, offering little hope forthe hurting global environ-ment as rising unemploymentand fiscal austerity acrossmuch of Europe underminethe region’s fortunes. A10n BP agreed to accept crimi-nal responsibility for the2010 Deepwater Horizon di-saster and pay $4.5 billion infines and restitution. A1n Google has held discus-sions with satellite-televi-sion provider Dish Networkin recent weeks to partneron a new wireless service. B1n Google has distributed tosome individuals outside thecompany a test version of itsnew mapping app that willwork on Apple’s iPhones. B3n Regulators are expected toserve J.P. Morgan with a for-mal action alleging weak-nesses in the bank’s anti-money-laundering systems. C1n The U.S. is targeting ship-ping companies FedEx and UPSas part of an expanding crack-down against illegal sales ofprescription painkillers. B1n The Dow industrials endeda whipsaw day with theirsixth decline in seven ses-sions, dropping 28.57 points,or 0.2%, to 12542.38. C4n LIPA is facing more than$800 million in damages fromSandy, one of the largestweather-related financial hitsto a U.S. electric provider. A3n Dell’s quarterly profit sank47%, weighed down by weakdemand for PCs even as thecompany tries to expand intomore lucrative businesses. B5n Even as the nation’s fore-closure rate continues tofall, states with court over-sight of the foreclosure pro-cess are lagging behind. A4nThe FHA’s projected losseshit $16.3 billion at the end ofSeptember, an estimate thatsuggests the agency will re-quire taxpayer funding. A4n Bernanke said the housingmarket is still plagued bytight credit, underwater bor-rowers and overdue loans,despite signs of revival. A4nWal-Mart and Target re-ported improved results, say-ing that consumers are focusedon basics and bargains.Sears posted a wider loss. B4nMcDonald’s replaced theleader of its U.S. business, asign that the company iswasting no time in trying tocorrect a series of missteps. B2nA report by GOP lawmakersdenounced ex-MF Global chiefCorzine’s leadership aheadof the firm’s collapse, whilealso criticizing regulators. C2n Xstrata’s second-largestshareholder, Qatar Holding,said it would vote next weekin favor of the miner’smerger with Glencore. B4nAn ex-Needham finance chiefwas accused of colluding withvendors to overbill the firm by$1 million and using the moneyfor personal expenses. C1
n Israel began gatheringforces near the Gaza border.Israel extended its aerial andartillery attacks on the GazaStrip and Palestinian mili-tants mounted their deepest-ever missile strikes. It wasunclear whether the troopmovements were designedto intimidate foes or lay thegroundwork for invasion.Egypt ordered a delegationto Gaza; the U.S. urged Tur-key and others with influ-ence with Hamas to help de-escalate tension. A1, A12Israel’s moves are catch-ing the U.S. between theconflicting agendas ofthree key Arab partners.n Petraeus will testify Fri-day about the Benghazi at-tacks, in his first appearanceon Capitol Hill since his res-ignation from the CIA. A6n Panetta ordered a reviewof military ethics training inthe wake of inquiries involv-ing top military officers. A6n At least four people werekilled and 17 injured after atrain hit a parade float full ofwounded veterans and theirfamilies in Midland, Texas. A2n Congressional leadersmeet at the White House onFriday for budget talks, andstates are bracing for the pros-pect of the “fiscal cliff.” A5n The government ex-tended the deadline forstates to choose whether toset up their own insuranceexchanges as part of Obama’shealth-care overhaul. A4n GOP leaders are fallinginto two camps as theystruggle to explain Romney’sdefeat and find ways tobroaden the party’s base. A5n Xi’s speech as China’s newleader won praise from thenation’s online community,highlighting the increasedscrutiny social-media usersput on public officials. A11n China’s Politburo Stand-ing Committee is once againdominated by protégés andallies of party elder Jiang,who has emerged as a victorin the power play. A11n China announced cuts toheavily regulated fuel prices,injecting further stimulusinto the economy. A12n A growing number ofyoung, skilled Greeks, Span-iards and Portuguese arefleeing to Germany, bodingill for Southern Europe. A10n Greek protesters raided aconference center and as-sailed a German diplomatamid continued rancor be-tween the two countries. A11nMyanmar’s reforms haveunleashed age-old ethnicand religious hatreds thatthreaten to divide the devel-oping democracy. A18n U.S. and Canadian citiesare moving to rein in smart-phone apps and online serv-ices that are changing howcustomers hail cabs.WSJ.comn Detroit will tear down apublic-housing project oncehome to Motown legends.
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The Kitchen That Ate the House
MANSIONThe $20 Million One-Bedroom
What’s News–i i i i i i
BY CHARLES LEVINSON IN TEL AVIVAND MATT BRADLEY IN GAZA CITY
Israel Mobilizes TroopsAs Hostilities Escalate
Jim
Holland
er/EuropeanPresspho
toAgency,
Eyad
Baba/A
ssociatedPress
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