LNB Bancorp Posts 3Q Loss and Market Share Gain
Lorain National Bank parent LNB Bancorp Inc. reports a 3Q net loss over 4.3 million with an 11.067 million loan loss provision due to rising problem loans and weaker real estate collateral. Loss per share 64 cents. Deposits rise to 968.991 million. Bank tops Lorain County market share for first time in 15 years.
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Lorain
LNB Bancorp Inc
Lorain National Bank
Daniel E. Klimas
LNB Bancorp
Lorain County
GAO says no return coming from auto bailout
GAO report says taxpayers are unlikely to recover the $80 billion invested in GM and Chrysler. It notes the Treasury may struggle to break even as government scrutiny and production requirements continue while options like public offerings for GM and private sale for Chrysler are explored.
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Washington
General Motors
Chrysler
Government Accountability Office
General Motors Co
Chrysler Group LLC
Treasury Department
Obama
Treasury
Factories and builders post strong quarter boosts
U S economic readings show manufacturing activity expanding in October at the fastest pace in over three years, aided by restocking and exports. Construction spending rose 0.8 percent in September with home building surging for six years, while contracts to buy existing homes climbed 6.1 percent in September to 110.1, the best since December 2006.
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Washington
Institute For Supply Management
Wyss
National Association of Realtors
Tainted beef linked to 2 deaths and 16 hospitalizations
Federal health officials linked contaminated fresh ground beef from Fairbank Farms of Ashville, New York to an E. coli outbreak that killed two people and sent 16 to hospitals. About 28 illnesses were reported, mainly in the Northeast and New England, with recalls of nearly 546,000 pounds distributed from North Carolina to Maine. One Albany County, New York, death involved a patient with underlying conditions. another death was reported in New Hampshire. Kidney failure and bloody diarrhea can follow E. coli infections.
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Rochester
N.Y
Fairbank Farms
Ashville
Centers For Disease Control and Prevention
U.S
New England
CDC
Lola Scott Russell
North Carolina
Maine
U.S. Department of Agriculture
Albany County
State Health Department
New Hampshire
N.y.-Based
Treasury trims 4Q borrowing forecast to 276 billion
The Treasury says it will need to borrow 276 billion in the October December quarter, far below August’s 486 billion projection, as it winds down a crisis era program and awaits Congress on the debt limit. The report also notes potential borrowing of 478 billion for January March and highlights pressure from lawmakers linking any increase to deficit action.
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Washington
Treasury Department
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Department
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