Ford to build new flexible V-6 engine in Lima Ohio
Ford Motor Co will invest 335 million to install a new 3.5 liter V-6 engine line at the Lima Engine Plant, replacing older lines. The plant, Ohio's second largest employer with 1600 workers, aims to produce up to 395000 engines yearly for Ford Lincoln and Mercury vehicles, while retaining existing jobs. Production begins by end of 2005 with emissions and efficiency improvements and a state grants package totaling 42 million supporting machinery, training, and tax incentives. Governor Taft and state officials praised the deal as boosting automotive standing.
MENTIONED IN THIS ARTICLE
Lima
Ford Motor Co
Ford
Lincoln
Mercury
Ohio
Judy Cowan
Ohio Department of Development
Bob Taft
Edsel
Atlanta
Chicago
Cleveland
Wixom
Mich
Edison
401k matches and participation face market slump
Workers loved 401(k) plans in the 1990s but the downturn reduced contributions and confidence, especially among younger employees. Hewitt Associates finds 68.2 percent of workers contributed last year, down from 71 percent in 2001, with matches suspended by firms like Schwab Ford Prudential and DaimlerChrysler. Experts warn against abandoning the plan as retirement security depends on steady investing.
MENTIONED IN THIS ARTICLE
Hewitt Associates
Chicago
Hewitt
Lori Lucas
Charles Schwab & Co
Ford Motor Co
Prudential Securities
DaimlerChrysler AG
Center For Retirement Research
Boston College
Alicia Munnell
Cedar Point parent weighs Radisson hotel upgrade
Cedar Fair LP the owner of six amusement parks and five water parks announced consideration of a major expansion for the Radisson Harbour Inn near Cedar Point. The plan would convert the 237 room hotel into a year round family resort with a large indoor water park and seeks city tax incentives. Details to be released later.
MENTIONED IN THIS ARTICLE
Sandusky
Cedar Point
Radisson Hotel
Cedar Fair, LP
Radisson Harbour Inn
Mortgage 15 year refi payments shock homeowners
Mortgage brokers report a rising trend where homeowners refinancing from 30-year loans to 15-year terms face much higher monthly payments. Clients often switch back to 30 years or repeat refi to 30 years to cash out or due to oversized payments.
MENTIONED IN THIS ARTICLE
Michael Menatjan
Sanborn Corp
West Hartford
Tim Malburg
Capstone Mortgage Co
Wilton
Conn
Malburg
Retail sales rise as economy shows momentum in June
Washington AP reports U S retail sales rose 0 5 percent in June the best gain in three months after a flat May revised figures. Consumers bought building and garden supplies sporting goods clothing and furniture as mortgage rates stay low and home values rise. The Federal Reserve cut the rate to 1 percent on June 25 aiming to spur more spending and investment amid a sluggish job market.
MENTIONED IN THIS ARTICLE
NAACP
Kweisi Mfume
National Association For the Advancement of Colored People
Miami Beach
Fla
Mfume
Washington
America
Commerce Department
May
Federal Reserve
Stocks slip on Greenspan remarks and profit taking
Wall Street faded after Fed Chair Greenspan signaled potential higher rates despite low borrowing costs. Analysts cited deflation risk and profits cashing as the market approached resistance near the 1000 level on the S&P 500. Dow fell 48.18 to 9128.97, Nasdaq slipped to 1753.28, and S&P 500 to 1000.42.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Federal Reserve
Alan Greenspan
Greenspan
Russ Koesterich
State Street Corp
Standard & Poor
Fed
Bush
Commerce Department
Dollar gains on upbeat data and Greenspan testimony
The dollar strengthened against major currencies after positive US data and Greenspan's testimony. US retail sales rose 0.5 percent in June, the largest monthly gain since March, while the Empire State Manufacturing Survey fell to 22.6 from 27.6 but remained strong. The euro traded around $1.1165, the yen at 117.91, and the pound slipped to $1.5906.
MENTIONED IN THIS ARTICLE
New York Federal Reserve
Wall Street
Stephen Massocca
Pacific Growth Equities
New York
Dow d Jones/AP
Federal Reserve
Alan Greenspan
Greenspan
Commerce Department
Federal Reserve Bank of New York
Also Mentioned on This Page
Roman Krygier
The
Hartford Courant
United States
Dow Component
Altria Group
Illinois
Philip Morris
Johnson & Johnson
Boeing
Dow
Dollar
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