6at4 Business Report: JetBlue, JP Morgan, Teen Unemployment

June 13, 2012 2:45:55 PM PDT
Lawsuit against JetBlue; Teens can't find jobs; Retail sales fall again.

J.P. Morgan before Congress
JP Morgan's CEO Jamie Dimon was in the hot seat today, testifying in front of a U.S. Senate panel on that $2 billion bank loss. Dimon says JP Morgan's switch to a new risk model may have helped fuel those losses. Protestors were gathered outside when Dimon arrived.

Retail Sales Fall Again
Americans kept a tight grip on their wallets in May: Retail sales fell for a second straight month as the jobs market remains soft. It's another sign that our economy is cooling. Problems with unemployment are making it tough for consumers to spend. The one good thing for now though is that lower prices at the gas pump are providing relief for Americans.

Fewer Teens Finding Jobs
If you're feeling like your teenager needs to just get off their seat and get a job, don't be too harsh on them! Fewer than 3 in 10 Americans age 16 to 19 have jobs lined up this summer. College students, immigrants and older workers are getting those jobs instead. The Associated Press looked at U.S. Commerce Department data and found teens that can afford it, are spending summers in camps and schools that help prep them for college instead.

Passenger Lawsuit against JetBlue
A new lawsuit by a group of passengers claims that JetBlue was grossly negligent after a midair scare. The suit stems from an incident on March 27th. A JetBlue flight was forced to make an emergency landing after the pilot had a meltdown. Captain Clayton Osbon was yelling about September 11th, terrorists, and more. He was taken down by passengers until the plane was on the ground. The suit filed today by ten passengers claims the airline should have known Osbon was unfit to fly. JetBlue has not commented.