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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jul 22, 1998
Page
13
Steve Ballmer named president of Microsoft, widening day to day management duties and signaling stronger path to succeeding Bill Gates. The shift places him as No 2 executive amid regulatory scrutiny and changes in sales control.
The SEC accused a former Wall Street figure of a 348 million phony profits scheme and sought 11.4 million in repayments and another 11.4 million in penalties. The ruling gave a partial victory to Jett amid the fraud case and ongoing prosecutions.
Harris Corp will lay off 2300 employees worldwide amid the Asian economic crisis reducing microchip demand. About 650 jobs will go in Findlay Ohio Summerville New Jersey and Mountaintop Pennsylvania as the company consolidates operations and cuts two communications lines to save 80 to 90 million dollars yearly.
Manco Inc., maker of duct tape and weatherization products, launches its first national advertising campaign with DDB Needham. The campaign highlights a talking duck mascot and a 30 second TV spot airing in eight cities, aiming to boost 1997 sales of about 167 million dollars. The campaign marks a global push, with plans to expand beyond national markets.
Ford Motor Co moves the Lorain Assembly Plant paint shop to Dearborn Michigan this week to support the Mustang line. Parts will be reused in a new up to date facility while some components remain at Lorain.
The Huffy Corp plant in Celina Ohio will lay off about 650 workers by July and close by October after 40 years of operation. executives cite foreign competition driving down profits as the reason, with production shifting to Farmington Missouri and imports from Asia and Mexico planned. A union transition center will aid workers in finding new jobs.
Numerical snippets show varied stock figures and ticker like codes. The fragment lists percentages tonnage and price style markers suggesting a stock market recap or trading floor update with numerous alphanumeric identifiers. Entities include stock codes and unit measures rather than named companies or places.
Early quotation supplied by Alin Investment Securities offered through Walnut Street Securities Inc. Asset managers are a dependent of Walnut Street Securities. NASD SIPC AISG listed as affiliations.
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