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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
May 07, 2004
Page
23
The Labor Department reports productivity up 3.5 percent annual rate for Q1 and jobless claims dropping to 315,000 for the week ended May 1, the lowest since October 2000. Wall Street trades lower as retailers report mixed results and consumer demand trends stabilize.
The Chronicle Telegram reports peak Mother's Day shopping at Amy's Hallmark and Baskets of Blessings with items like Family Tree ornaments, Motherhood Ornaments, and a range of jewelry. Experts advise live flowers, hanging geranium baskets, and budget gifts. online guides offer DIY gift ideas for kids and best/worst gift lists.
A federal bankruptcy judge ruled in favor of a settlement that boosts creditors from about 20 million to roughly 30 million tied to the sale of bankrupt Weirton Steel Corp. The agreement between Weirton and the Informal Committee of Secured Noteholders clears a major hurdle to ISG's 237.5 million sale and delays closing to May 17.
AK Steel Corp. reached a settlement with former chief executive Richard M. Wardrop Jr. for severance and retirement pay, reportedly far below his $51 million demand. The company disclosed the deal to the SEC, saying it does not affect earnings or liquidity. AK Steel operates plants in Ohio Indiana Pennsylvania and Kentucky and employs about 8800 people.
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