Flood retirement signals end of an era at FirstMerit
Akorn-Howard L. Flood announces retirement as Chairman of the Board of FirstMerit Corp after a 33 year banking career. He will become chairman emeritus when his term ends April 9 while remaining active with the bank holding company. Flood helped grow assets from 14 billion to 5.6 billion and will relinquish affiliated board seats but stay as a consultant.
MENTIONED IN THIS ARTICLE
Akron
Howard L. Flood
FirstMerit Corp
FirstMerit / EST
Elyria Savings & Trust National Bank
Flood
Elyria
Bank
Staten Island
N.Y
Ohio
Elyria High School
Georgiana Resinko
Lorain
Associates Finance and Investments Co
Cuyahoga Falls
First National Bank of
First National Bank of Ohio
FirstMerit
John R. Cochran
Electricity futures debut reshaping deregulated power market
New York Mercantile Exchange launches electricity futures on March 29 with contracts for Palo Verde Arizona and California Oregon border interchanges. Aimed at 18 month price discovery, hedging by suppliers traders and end users amid deregulation and volatile prices. East Coast contract expected soon, says Nymex president Patrick Thompson.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
United States
Palo Verde
Ariz
California-Oregon
Nymex
R. Patrick Thompson
Commodity Futures Trading Commission
Peter Fusaro
Global Change Associates
White Plains
N.Y
CEO pay up 23% amid layoffs across U S firms
The Pearl Meyer & Partners survey shows chief executives at Fortune 100 types saw total compensation rise 23 percent in 1995 to an average $42.37 million, fueled by stock options and bonuses. Base salaries averaged $991,300, with stock options around $1.52 million and bonuses about $1.22 million. AT&T’s pay cut and restructuring were noted, while both parties used the figures to criticize corporate behavior as unemployment rose.
Slow income growth, spending drops hit 1996 start
Americans faced a weak start to 1996 as personal income rose only 0.1 percent to 6.25 trillion in January from 6.24 trillion a month earlier. The gain was the smallest since August and followed a surge in 1996. Consumer spending saw its steepest decline in over three years, underscoring fragile economic momentum.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Hershey unveils Sweet Escapes low fat bars
Hershey Foods Corp chairman Joseph P. Viviano said the Sweet Escapes line, a three flavor candy bar, has 50 percent less fat than leading chocolates and lower calories. The new bars hit stores in late April or early May with an expected first-year sales potential near 100 million dollars.
MENTIONED IN THIS ARTICLE
Naples
Fla
Joseph P. Viviano
Hershey Foods Corp
Hershey
Viviano
Ford to Cut 6000 Jobs as Cost Drive Intensifies
Ford Motor Co plans to eliminate about 6,000 positions from its 29,000-person product development staff over the next several years as part of a broad cost-cutting drive. The moves include small changes like not painting ashtray interiors in the Explorer and larger efforts using computer design to save hundreds of millions annually.
MENTIONED IN THIS ARTICLE
Detroit
Ford Motor Co
New York Times
Ford
Times
Goodyear buys Belt Concepts of America Inc
Goodyear Tire & Rubber Co expands into lightweight belts by purchasing Belt Concepts of America Inc of Spring Hope North Carolina. The purchase price was not disclosed Monday.
MENTIONED IN THIS ARTICLE
AKRON
Goodyear Tire & Rubber Co
Goodyear
Belt Concepts of America Inc
Spring Hope
N.C
Opening Stocks Local Stocks New York AP
Closing prices yesterday on the Comme gold 393.90 per toy ounce saver 5 405 per toy ounce closing price on the Merc platinum 414.50 per toy ounce palladium 133 00 per ounce spot nonferrous metal prices yesterday aluminum 724 carts 2 pound copper 1 1915 canta a pound lead 50 pants a pound zinc 51 53 cents a pound tin 4 1104 metals week composi pound mercury 250 per 7¢-pound flask.
MENTIONED IN THIS ARTICLE
New York
Treasury sells short term bills at steady rates
Washington AP The Treasury sold 15.2 billion in three month bills at an average discount rate of 4.69 percent, higher than last week. Six month bills totaling 15.4 billion carried a discount rate of 4.80 percent, unchanged. The understate actual return is 5.02 percent for the three month bill and 4.99 percent for the six month bill.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
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FirstMerit Chairman
Ournal of Commerce
U.S
Public Service Commissions
Rindspeed
Switzerland
Pell
America
Pearl Meyer & Partners
Clinton
Warformance
Diane D. Posnak
Pearl Meyer
At&t
Securities and Exchange Corp.mission
Robert Allen
Allen
GOP
Pat Buchanan
Stvengo Thorne
Ghirardelli Chocolate
Ghirardelli
Apple
Washington Post
Apple Computer Inc
eWorld
AOL
Netscape Communications Corp
Murdoch
Comsat
Rupert Mur
Doch
News Corp
Bethesda
Latin America
Intelsat
NYSE
Akin Investment Act
Be Saatt Pharlinl
Allied Corporation
CoBancorp Inc
AtchOan
Columna Gas
Mae
Iem
Ye Sfer
Bee
CPG Inter. Inc
BankAm
SaraLes
Sybron S. Ae
General Motors
Textrat
Loral
Fiesth
Nidemi Napier
Lasco Inc
Mid-Am, Inc
P.N.C. Corp
Parker Hannifin Bye
Sherven Williams
Smuckers/SJMA
Sunrse Medical
Texas Utlites
T.R.W
USX
We Woolworth
F.W
York Internaional
American Whst Mutual Buy
Mase Crite
Templeton
Templeton World i NL
Ben Ind
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