Leaders push tax breaks to save Lorain Ford plant
State and local leaders met with Ford officials to develop an incentive package aimed at keeping the Lorain Assembly Plant open. Ford will join talks only after a finalized UAW contract, which is expected by week’s end. Officials cited tax abatements and credits as potential tools.
MENTIONED IN THIS ARTICLE
Ford Motor Co
Lorain
Ford
Jeffry Armbruster
R-North
United Auto Workers
Armbruster
Rich Yoytowich
Joseph Koziura
Craig Foltin
Bruce Johnson
State Department of Development
Kozima
Foltin
Kozin
Glitch slows startup at Republic Engineered Products
A tuyere malfunction halted Lorain furnace startup at REP early Monday. About 600 of 1100 workers returned as the furnace ran by midday and usable steel was expected by Wednesday. Company and union officials described a cautious restart after the August blackout and No. 3 furnace outage, with full schedules anticipated once production resumes.
MENTIONED IN THIS ARTICLE
Lorain
Republic Engineered Products
Dash Sokol
United Steelworkers of America Local 1104
Sokol
John Willoughby
Willoughby
REP
Interim NYSE chairman pushes for overhaul reforms
John S Reed, interim NYSE chair, urged overhaul before board changes. He denied plans to oust CEOs, noting governance changes should drive board makeup. Reed wants board reduced from 27 to about 12, while preserving key executives, and will vet proposals with the SEC as critics push for reforms.
MENTIONED IN THIS ARTICLE
Reed
Securities and Exchange Commission
William Donaldson
Wall Street
Donaldson
Exchange
NYSE
SEC
White-collar scandals open with Kozlowski and Quattrone trials
Former Tyco chief Dennis Kozlowski and ex banker Frank Quattrone go on trial in Manhattan as the first major white collar cases since the era of Wall Street scandals. Prosecutors allege Kozlowski looted Tyco for 600 million while Quattrone faces obstruction charges. Both deny wrongdoing, claiming loans and board approved bonuses financed the conduct.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Tyco
Dennis Kozlowski
Frank Quattrone
Lower Manhattan
Kozlowski
Quattrone
Christopher J. Bebel
Justice Department
Tyco Financial
Mark Swartz
Manhattan
Swartz
Consumer spending rises in August amid tax cut boost
August spending climbed 0.8 percent with disposable incomes up 0.9 percent as Bush tax cuts expand take home pay. Wall Street lifted with the Dow adding 67 points to 9,380. Growth is seen fueling the economy’s rebound, with economists predicting momentum into year end.
MENTIONED IN THIS ARTICLE
Washington
America
Commerce Department
Bush
Wachovia
Mark Witner
Commerce
Don Evans
Wall Street
United States
Also Mentioned on This Page
Armbrosier
Koziura
Bob Tait
Adrian Burns
Burns
Chronicletategram.com
REP Factory
Abums
Chronicletelegram
Europe
Rotterdam
Netherlands
Spain
Belgium
Stock Exchange
John S. Reed
New York Stock Exchange
Tion
Merrill Lynch
Jp, Morgan Chase
Goldman Sachs
Henry Paulson
Urg
Brandon Rees
Afl-Cio
Citi Group
Dick Grasso
E. Carl McCall
Buckeye Bank
Buckeye Banking
Sheffield Center
BANK
Wwusbuck
FDIC
Italy
Jimmy Buffett
Michelangelo
David
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