TRW campus in Lyndhurst to close after Northrop sale
Northrop Grumman will assume TRW Inc and close the Lyndhurst headquarters housing about 380 employees. Mayor Barry Jacobson vows to recruit another company while preservationists warn against selling more land for development. Local residents cite the site’s landscape and history as key assets amid talks with Progressive or MBNA.
MENTIONED IN THIS ARTICLE
Northrop Grumman
TRW
Lyndhurst
Northrop
Randy Beloie
Barry Jacobson
Progressive (Insurance
MBNA
Jacobson
First Interstate
Bob Goble
Dick Davet
The
Taxpayers Coalition of
Beachwood
TRW Corp
Northrop Grumman Corp
TRW Inc
WorldCom probes new accounting problems as shares crash
WorldCom Inc faces fresh accounting questions while Nasdaq moves to delist. Investors dump stock after a 90 percent plunge to fractions of a dollar amid a three day halt and disclosure of $3.8 billion in questionable expenses. The SEC continues its civil probe, with potential criminal charges under discussion. Meanwhile Bush vows to pursue corporate wrongdoing as WorldCom bears heavy losses and lenders claim $4.25 billion in defaults.
MENTIONED IN THIS ARTICLE
Washington
WorldCom Inc
WorldCom
Securities and Exchange Commission
SEC
Harvey Pitt
Ins
Bush
Cleveland
America
Mississippi
Avon Lake approves Ford tax abatement package
Avon Lake City Council approved a 75 percent abatement on 51 million dollars of Ford Motor Co. machinery and inventory for the Ford Escape line at the Ohio Assembly Plant. Production begins spring 2003 pending approvals from Sheffield, Sheffield Lake, Lorain County, and the state. Ford must retain about 800 jobs. discussions also involve an 83 million state package but not tied to Econoline workers.
MENTIONED IN THIS ARTICLE
Avon Lake
Ford Motor Co
Ohio
Rob Berner
Sheffield
Sheffield Lake
Lorain County
Ford
Berner
Manufacturing rebounds as June ISM index tops forecasts
U S manufacturing activity shows its strongest June in nearly two years with an ISM index of 56.2, while construction spending slips 0.7 percent to a five month low. Analysts note a split recovery as factories boost output but builders curb new investment and commercial projects lag.
MENTIONED IN THIS ARTICLE
Washington
Institute For Supply Management
Ken Mayland
ClearView Economics
ISM
Commerce Department
May
Wall Street
Dow Jones
Kenneth Simonson
Associated General Contractors of America
Richard Yamarone
Argus Research Corp
Fed
Also Mentioned on This Page
Microsoft Corp
Microsoft
8LEAK
New York
Nasdaq
Brad Dicken
Chronicle-Telegram
Bdicken
Chroniclefelegram
TeleBanker
Bath and Body Works
Bath and Body Works Inc
Consumer Product Safety Commission
Incineon
Awa Pears
Safety Commission
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