Greenspan urges Congress to curb mortgage company holdings
Fed Chairman Alan Greenspan testified before the Senate urging Congress to restrict the holdings of Fannie Mae and Freddie Mac as their debt grows giant and pose risk to markets. He noted portfolio limits would not affect mortgage rates and said strong regulation is needed alongside other measures. Shares rose modestly as investors weighed proposed limits.
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Automaker safety tests show mixed results in 2005 pickups
In Washington the latest government crash tests rated General Motors models among the worst while others like Ford and Toyota fared better. The National Highway Traffic Safety Administration released figures indicating the Sierra and Silverado models performed poorly on frontal impact tests, with various brands showing differing injury risk estimates and overall safety grades across the 2005 pickup batch.
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NUYSA
Wendy's forecast notes smaller first quarter profit
Wendy's predicts a reduced initial quarter earnings as beef costs stock options and an earlier Easter press against results. The firm also cites weak March sales, expects a rebound in the second half, and maintains full year guidance despite блиnd pricing pressures and international weakness.
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Family of worker killed in accident sites REP ELYRIA
A worker died in an industrial accident at a railway yard area near Elyria. The incident, under investigation by OSHA Toledo officials, involved a crane and heavy machinery. The Burnette family, represented by attorney Charles Young, awaits details as proceedings and safety reviews unfold.
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Ford to cut 1000 jobs in buyout program
Ford announces a buyout plan expected to eliminate about 1000 positions by summer. Spokesman says salaried workers may be offered buyouts beyond retirement eligibles, with no immediate impact on hourly staff in Lorain County. The move follows a reported 3.5 percent drop in March sales and ongoing cost reductions across Ford divisions.
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