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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Apr 29, 2008
Page
4
Mars submitted an unsolicited bid for Wrigley in April after approaching the company in January. The offer and subsequent actions mark a pivotal move in the confectionery industry.
Denise Smith in Elyria joins line for Grand Theft Auto IV as retailers mark the launch with midnight events. The game, rated M for mature audiences, features violent content and a gritty Liberty City storyline.
Oil prices climb toward 120 a barrel after BP shuts the Forties Pipeline System due to a Grangemouth refinery walkout. The outage, amid Nigerian disruption, lifts crude futures on the NYMEX to near 119.93 a barrel before easing. Analysts cite supply concerns from BP, Ineos, and Nigeria driving the rally.
Washington protesters from Truckers and Citizens United circled the National Mall and rallied at RFK Stadium then marched to the Capitol. They blame high oil costs for harming the economy, citing AAA prices for regular gas at 3.51 and diesel at 4.20 per gallon. Independent trucker Dave Gates cites a 1400 dollar fill-up cost.
General Motors will cut one shift at four North American factories and lay off about 3,500 workers this summer. Weak demand for pickups and SUVs, blamed on high gas prices and an economic downturn, will shutter shift at plants in Pontiac and Flint Michigan, Oshawa Ontario, and Janesville Wisconsin.
The IRS raised enforcement revenue to 59.2 billion from 48.7 billion in 2006 and reports gross accounts receivable at 290 billion up from 271 billion, while the gap between collections and money owed widens per the Treasury Inspector General for Tax Administration. Federal prosecutors for National Century Financial Enterprises seek a 1.7 billion IOU against five executives after a 1.9 billion fraud trial verdict.
In a brief market note readers see scattered references to stock movement and trading volume. The summary indicates mixed activity with several tickers noted for price changes and potential value considerations.
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