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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Feb 18, 2010
Page
9
A year after Congress passed the Obama stimulus act, unemployment remains high though job losses slowed and growth appears real. States rely on stimulus funds, many road projects started, but the program faces questions about its long term impact and debt.
A Pew Center study finds states face about 1 trillion dollars in unfunded retirement benefits. It warns of higher taxes, reduced services, and lower bond ratings unless action is taken promptly. The report notes 2008 figures show 2.4 trillion in assets to meet 3.4 trillion in promised benefits across all states.
Toyota reviews under 100 power steering complaints about the Corolla as U.S. sales reach nearly 300,000 last year and national officials examine possible links to brakes or tires. Shinichi Sasaki, top quality executive, says drivers may feel loss of control but causes remain unclear.
Walgreens plans to acquire Duane Reade Holdings for about 623 million dollars, boosting metro area locations to over 300. The deal aims to standardize stores with a new urban centric format while retaining the Duane Reade name for now and preserving management.
The FTC announced a crackdown on unemployed targeting scams including seven entities facing court actions and asset freezes. It cites Entertainment Work Inc. for offering local entertainment jobs for a membership fee, with an interim order halting its activities.
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