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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Jun 16, 2006
Page
15
Fed Chair Ben Bernanke warned that energy and commodity price pressures could push core inflation higher while emphasizing that inflation expectations pose a risk if markets see higher prices ahead. Mortgage rates edged up with 30 year loans around 6.6 percent, a level not seen in years.
Bill Gates plans to withdraw from day to day duties at Microsoft over two years to focus on his charitable foundation while remaining chairman. Ray Ozzie becomes chief software architect and Craig Mundie takes chief research and strategy officer, with Mundie partnering on policy with Brad Smith. Gates remains the largest shareholder with about $50 billion.
Avon Lake based PolyOne Corp plans a new facility in Kutno Poland, its second manufacturing site in Central Europe after Hungary opened in 1998. The company already operates sales offices in Poland and the Czech Republic, with plants across Western Europe.
American travelers seek budget smart planning as euro strength nudges prices. Insight Vacations reports over 30 percent higher revenue and traveler volume. European tours average about 175 dollars daily, including most services, while customers note overall value and pre negotiated rates.
Delta Air Lines raised one-way domestic fares on unrestricted first class and walk-up coach tickets by 50 dollars. United American Continental Northwest and US Airways quickly matched the move amid persistently high fuel prices. Delta and Northwest are under bankruptcy protection.
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