TARP repayments surpass outstanding balance milestone
The Treasury reports repayments under the 700 billion TARP have reached 194 billion, topping the 190 billion still outstanding. A May Citi stock sale added 6.18 billion, helping reduce projected costs and support economic recovery while banks repay funds and face compensation rules.
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Petrochemicals Shape Daily Life Across Society
The oil spill debate highlights that petrochemicals pervade daily life from bikes and fans to milkshakes and cosmetics. Experts say plastics and many products originate from natural gas or oil, with about 93 percent of American plastics tracing to these sources.
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Wendy's takeover overture sparks share rise
Nelson Peltz said he is reviewing an overture from an unnamed group to acquire Wendy's Arby's Group Inc. Shares rose 7.1 percent to 4.65. Peltz listed possible debt and equity financing and plans to consult advisers, with Arby's struggling amid the recession and a 3.4 million dollar quarterly loss.
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Wendy’s/ Arby’s Group Inc
Nelson Peltz
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Arby’s
Feds may ban nuts on planes
Federal regulators weigh options to ban or limit peanuts on flights to protect about 1.8 million Americans with peanut allergies. Proposals include full ban, advance-request restriction, or peanut free zones, with input from allergy groups, medical experts, and the public.
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Canadian firm to auction assets of Ohio Chrysler plant
Maynards Industries Ltd of Vancouver says it cannot find a replacement tenant for the Twinsburg stamping plant and will auction the facilitys equipment and remaining assets in September. Chrysler will end production by June, laying off 206 workers, with 77 more staying until July. About 1,000 workers were employed when shutdown plans were announced last year. The plant processes steel sheets into door panels and related parts.
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