Huffy to buy Schwinn name in 60 million deal
Huffy agreed to acquire Schwinn trademark and assets for more than 60 million dollars. Schwinn GT filed for bankruptcy protection. sale subject to court approval with other bids possible. Schwinn, once a dominant US bike brand, faced market losses since the 1980s and bankruptcy in 1992.
MENTIONED IN THIS ARTICLE
Miamisburg, Ohio
Huffy
Schwinn
Schwinn/GT Corp
Miamisburg
Don Graber
Jeff Sinclair
Chicago
United States
GT Bicycles
Chris Snyder
Huffy Corp
Dayton
Incentives to reopen Brook Park Ford engine plant
Ohio officials plan incentives to restart the idled Brook Park engine plant, restoring about 650 jobs. Ford would invest over 200 million, with a 300 thousand job training grant and tax credits for equipment, plus 74 percent real and personal property tax abatements. Local leaders expect Wednesday’s formal announcement with Gov Taft and UAW representatives.
MENTIONED IN THIS ARTICLE
Columbus
Ford Motor Co
Cleveland
Brook Park
Bob Taft
Thomas Coyne
Ford
United Auto Workers
Vince Adamus
Ohio Department of Development
Gail Craw
Ley
Adamus
Phone savings fade as local charges rise nationwide
Washington AP reports that after a five year FCC plan promised lower rates and more choices, local subscriber line charges rose from 4.35 to 5.00 dollars per month. Long distance firms have not passed savings to customers, with AT&T increasing rates for many residential users while SBC Verizon Sprint defend price plans as consumer benefits.
MENTIONED IN THIS ARTICLE
Washington
Hey
Federal Communications Commission
FCC
At&t
John Emra
SBC Communications
Bell Atlantic
GTE
Verizon
BellSouth
Sprint
Jim McGann
Earnings lift broad rally on Wall Street stocks surge
Positive earnings from Caterpillar and other industrials spurred a broad market rally. Dow rose 134.27 to 10,606.39 aided by gains in 3M and J&J while Intel warned of a slower turnaround and Apple fell after hours. Techs remained under pressure despite late gains.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Intel
Dow
Standard & Poor
Caterpillar
Robert Streed
Northern Select Equity Fund
Johnson & Johnson
J&j
Robert Harrington
Block Trading
UBS Warburg
Apple Computer
Federal Reserve
Dollar dips as Greenspan testimony looms in Congress
The dollar fell against major currencies ahead of Fed chair Greenspan's biannual testimony. Analysts expect a cautious optimistic view of the U S economy and possible hints of another rate cut as manufacturing activity slumps for the ninth straight month. Investors watch for signals on dollar strength and policy. The Nasdaq and NYSE showed gains with rising volume and the Russell 2000 up to 490.57.
MENTIONED IN THIS ARTICLE
New York
Federal Reserve
Congress
Alan Greenspan
U.S
Fed
Greenspan
Oral Reserve
New York Stock Exchange
Also Mentioned on This Page
Schwinn Name
Huffman Manufacturing Co
Trek Bicycle Corp
National Bicycle Dealers Association
Boulder
Colo
Questor Partners Funds
Asia
Mexico
Pany
James Fisher
Watever Weber
McI
FDIC
Nationalcity.com
Broad
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