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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 02, 2009
Page
4
The House passed a 247 to 171 measure to allow rewards if regulators deem them not unreasonable or excessive, amid voter backlash over AIG bonuses. Democrats had earlier failed to advance a stronger plan after AIG’s $165 million in bonuses and $182 billion in federal aid drew criticism.
Huntington says it has exited 1.5 billion in problem loans from Franklin and the restructuring eliminates the last batch worth 615 million. Also notes Kroger Lite Mayo jars sold in three states and a possible salmonella concern from an egg product used to make mayo. BBB warns of Publishers Clearing House scam letters offering a million dollar prize with fraudulent checks. Domino’s says about 11 000 free pizzas were given away due to an unused online coupon code bailout found by a web user.
The Institute for Supply Management reported its March manufacturing index at 36.3, marking the 14th straight month of contraction though a slower pace than expected. Nonresidential construction rose 0.3 percent in February after a 4.3 percent January drop, while Lennar Corp warned of a 77 percent rise in fiscal first quarter losses due to land and inventory valuation charges and plunging home deliveries and orders.
Federal authorities seized Bernard Madoff's 55 foot yacht Bull and a 24 foot motor boat from Florida marinas as part of asset forfeiture to repay swindled investors. The 1969 Rybovich yacht is valued at about 2.2 million dollars. Prosecutors seek broad forfeiture of Madoff and his wife's assets including mansions and luxury cars.
FirstEnergy plans to tell a judge by midnight whether to close the R.E. Burger power plant in Shady Side Ohio or repower it or install scrubbers under a 2005 air pollution settlement with the EPA and three northeastern states. The deal required fines and cleanup costs at four plants and ranks as one of the largest federal settlements with a utility over air pollution.
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