REP workers back to Lorain mill as financing sought
REP officials said most workers will return to the Lorain plant by week’s end after a bankruptcy filing. About 400 to 450 employees are currently on site as No 3 furnace repairs near completion and No 4 furnace restarts. Chapter 11 aims to freeze debts while awaiting restructuring and new financing, though money owed to contractors may not be paid immediately.
MENTIONED IN THIS ARTICLE
Lorain
Republic Engineered Products
John Willoughby
U.S. Bankruptcy Court
Willoughby
George DeTillio
United Steelworkers of America
REP
Scott Yetmar
Cleveland State University
Stein Inc
Lorain County
Mark Stewart
Southeast Asian nations sign Bali economic pact to form a regional community
Ten ASEAN states sign a Bali Accord to create by 2020 an ASEAN Economic Community modeled after Europe, lowering tariffs and travel barriers while avoiding a political union. Leaders tout the move as a landmark though debates linger over Myanmar and regional democracy.
MENTIONED IN THIS ARTICLE
Bali
Indonesia
Association of Southeast Asian Nations
Western Europe
NATO
ASEAN
Megawati Sukarnoputri
Thailand
Philippines
Cambodia
Malaysia
Singapore
Laos
Vietnam
Brunei
Myanmar
India
China
Southeast Asia
Aung San Suu Kyi
Mahathir Mohamad
Asia
Sian
Japan
Junichiroe Koizumi
Khin Nyunt
Suu Kyi
Koizumi
South Korea
Weirton Steel plans 950 layoffs in bankruptcy filing
Weirton Steel Corp. seeks to cut 950 jobs, end a underfunded pension and health plan for 10,000 retirees and dependents, and pursue possible sale of the Northern Panhandle mill. The plan, filed with U S Bankruptcy Court in Wheeling, hinges on tariffs on steel imports and a federally guaranteed loan package. The company may modify the plan before a December confirmation hearing.
MENTIONED IN THIS ARTICLE
Morgantown
W.va
Weirton Steel Corp
U.S. Bankruptcy Court
Wheeling
Panhandle
West Virginia
America
Ohio River
Steubenville
Ohio
Independent Steelworkers Union
Gregg Warren
Consumer borrowing brisk in August says Fed report
The Fed finds consumer borrowing rose 8.2 billion in August, a 5.2 percent annual rate, lifting total debt to 1.96 trillion. An expanded student loan data set, including federal and Sallie Mae loans, adds 0.4 percentage point per year to the pace. Nonrevolving credit led gains, with nearly 7 billion more for cars, vacations, and education. revolving debt rose 2.1 percent. Real estate loans are excluded.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Fed
Sallie Mae
Richard Yamarone
Argus Research Corp
Unwritten rules drive career advancement says expert
Judith Turnock and Price Dobbs argue that corporate life is a power game and that success comes from learning the unwritten rules. They advise watching influential colleagues, building key relationships, and making yourself heard, noting the game never ends.
MENTIONED IN THIS ARTICLE
Judith L. Turnock
New York
Turnock
Hunter Management Group
Price M. Dobbs
San Francisco
Amacom
Howard University
Cooper shifts truck tire production to China
Cooper Tire & Rubber Co will transfer part of its Albany Georgia truck tire output to China to expand Albany plant production of performance and specialty light truck tires. Hangzhou Zhongce Rubber Co will supply 250000 medium radial tires annually, with about 1500 Albany employees kept on.
MENTIONED IN THIS ARTICLE
Findlay
Ohio
Cooper Tire & Rubber Co
Albany
China
Cooper
Hangzhou Zhongce Rubber Co
Hangzhou
Pat Brown
Dick Stephens
Cooper’s
Tire Gram
New York Stock Exchange
Also Mentioned on This Page
Mill
DeTillio
Adrlan Burns
Chronicletelegram.com
The
Associated Press
Yangon
Indone
Goh Chok Tong
Wierton
Chicago Tribune
Tornock
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