Economic tremors linger after 9 11 impact on Lorain County
Lorain Countys economy shows stubborn recession signals with about 410 new unemployment claims last week double August 1999 levels. Experts say 9 11 accelerated pre existing trends in national markets, healthcare costs rise, and offshore jobs threaten local employment. Recovery depends on creating jobs and stabilizing the private sector amid broader national trends.
MENTIONED IN THIS ARTICLE
Lorain County
Zeller
Hill
Frank DeTillio
DeTillio
Department of Homeland Security
REP outlines Lorain plant cost cuts and restart plan
REP releases a formal status report on the Lorain plant detailing a cost-structuring program and a timetable to resume blast furnace No. 4 by month end after a mid September estimate. Contractors were halted by a late August walk-off over money, with insurance and other funds being sought to restore steel production as Canton and Lackawanna facilities support output. About 500 layoffs at Lorain are now under review while operations and costs are tightly managed.
MENTIONED IN THIS ARTICLE
Lorain
Republic Engineered Products
REP
US Steel
Kobe Steel
No. 4
John Willoughby
Bruce McCartney
Lucas Phonicing and Heating Inc
Republic
Willoughby
Canton
Adrian Burna
Abums
Chronicletalegram.com
Treasury seeks stronger oversight of Fannie Mae and Freddie Mac
Treasury Secretary John Snow urged Congress to move mortgage giants Fannie Mae and Freddie Mac under Treasury regulation from HUD. He argued housing finance is vital to the economy and called for a world class agency to supervise prudent operations amid Freddie Mac accounting turmoil and leadership exits.
MENTIONED IN THIS ARTICLE
Treasury
Washington
John Snow
Congress
Fannie Mae
Freddie Mac
Snow
Treasury Department
Department of Housing and Urban Development
Prudential
House Financial Services Committee
Travel industry slow to recover after 9/11 impact
Abe Assilly of ABE Travel Agency in Elyria says 9/11 severely wounded the travel business and recovery remains slow. He cites canceled bookings, loss of airline commissions, and bankruptcies of many agencies. Lori Cook notes ongoing fear and industry adjustments like online bookings and cheaper operations.
MENTIONED IN THIS ARTICLE
Abe Assilly
A.B.E. Travel Agency
Elyria
Lori Cook
A.B.E. Travel
Cook
Assilly
First ex Enron exec gets prison time
Former Enron treasurer Ben Glisan was sentenced to five years in prison after pleading guilty to conspiracy. He forfeits nearly $1 million and faces three years of supervised release. Prosecutors said no deal implicates higher executives. Glisan admitted conspiring to falsify Enron’s finances to hide losses.
MENTIONED IN THIS ARTICLE
Houston
Enron Corp
Kenneth Hoyt
Ben Glisan
Enron
Kenneth Lay
Jeffrey Skilling
Glisan
Andrew Fastow
Michael Kopper
Fastow
Leslie Caldwell
Justice Department
Glison
Mobile self-storage gains appeal for on the go buyers
Washington Post reports mobile self-storage via Store-to- Door Drop offers three containers parked outside homes. Williams, 22, used the service in Silver Spring to avoid trucks and multiple moves. Industry says tech serves homebuyers, students, military, diplomats, and busy professionals aged 28 to 40 seeking convenient, secure packing and removal.
MENTIONED IN THIS ARTICLE
Williams
Washington
Silver Spring
Jessup
Michael Kidd
Self- Storage Association
Springfield
Also Mentioned on This Page
George Zeller
Greater Cleveland Council For Economic Opportunity
Ned Hi
Cleveland State University
Adrian Burns
Chronicletelegram
Iraq
Gene Kree
The
Washington Post
Janelle Williams
Bernard Mustafa
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