Events Calendar
In This Section
Banks earn $2.8 billion in third quarter; insurance fund in the red
Akron, Summit County jobless rates increase
Home prices rise for fourth month in a row
Economy's rebound not as strong as first thought
Area home sales fall as U.S. sees gains
Most foreign-born residents back smoking bans
Highway builders predict dim 2010
Most Read Stories
2 men shot during party in Fairlawn
Akron man killed in crash on his street
Victim of beating in Kent last week is declared dead at Akron hospital
Akron Children's Hospital CEO, wife announce $1 million gift to support research
Akron Circle K store robbed for second time this month
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Police: Pennsylvania man killed misbehaving puppy before Steelers game
Kangaroo tries to drown dog, attacks owner
Cancellation of Christmas not an option
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Viewing Notes
Patrick McManamon:
Of pass interference and alleged "fake" injuries
Akron Zips:
No. 1 Akron to play Stanford next
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Audio: Mangini disputes Poteat call, accuses Lions of faking injuries
Kent State Sports:
Flashes travel to Florida Atlantic
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
Buckeye Football – Present and Future
Varsity Letters:
Gulley to visit Central Michigan in December
All Da King's Men:
The Onion, By Any Other Name…
Blog of Mass Destruction:
Glaring Contradictions
Akron Law Café:
Don't Try to Have Fun if you are Depressed
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Faye Dunaway to be Evicted?
Ohio Travels with Betty:
Monique asks how to get tickets for the Polar Express.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – Why I am Glad I live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Saturday, Apr 19, 2008
Loss increases
for Twinkies maker
The bakery company that makes Hostess Twinkies and Wonder Bread reported a larger third-quarter loss on lower sales and an increase in restructuring and reorganization costs.
Interstate Bakeries Corp., which has operations in Akron and Tallmadge, said in a report filed with the Securities and Exchange Commission that it lost $67.8 million, or $1.50 per share, during the three-month period ending March 8, versus a loss of $42.2 million, or 94 cents per share, during the same period a year ago.
Airport will lose
Continental Express
Continental Airlines will cease operations in and out of Chicago's Midway International Airport by its Continental Express subsidiary as of May 31.
Continental Express offered five flights daily — two to and from Newark, N.J. and three to and from Cleveland.
Passengers with tickets for the canceled service are being offered either refunds or seats on flights at O'Hare International Airport.
The company said the financial performance of the flights and the high price of fuel has made losses too great to maintain the service.
Citigroup to cut
9,000 more jobs
Citigroup Inc. lost $5.1 billion during the first quarter and will eliminate about 9,000 more jobs, as poor bets on mortgages and leveraged loans lopped billions of dollars from its investment portfolio.
Write-downs related to mortgages and turmoil in the credit markets reached about $12 billion, and costs stemming from consumers' credit problems surpassed $3 billion, the bank said. Chief financial officer Gary Crittenden said the bank, seeking to cut costs, is eliminating about 9,000 additional jobs.
That means Citigroup is cutting 13,200 jobs in all, coming after an announcement in January that the bank was cutting 4,200 jobs.
Chrysler CEO open
to more partnerships
Chrysler LLC's chairman and chief executive said he's open to more partnerships like one announced this week expanding the automaker's car- and truck-building alliance with Nissan Motor Co.
He said such deals are key in Chrysler's plans to sell vehicles in growing markets worldwide.
Robert Nardelli said, ''Our ability to meet the emerging market demands as quickly as we can would suggest we should look at partnerships and alliances, and that's what we did.''
The agreement with Nissan is part of a tightening relationship between Chrysler and the No. 3 Japanese automaker as they attempt to adapt to a U.S. market buffeted by the economic slowdown and rising gas prices. Such partnerships, he said, will allow Chrysler to meet demand in the compact car segment, where it has a void in its lineup.
AK Steel chief paid
$9.2 million in '07
James Wainscott, the top executive of AK Steel Holding Corp., received compensation valued at $9.25 million in 2007, when the company had record revenue and shipments. That was a 71 percent increase from the previous year, according to an analysis of regulatory filings.
AT&T plans to cut
about 4,600 jobs
AT&T Inc. said it plans to cut about 4,600 jobs, or 1.5 percent of its work force, to shift resources to growing parts of its business.
The nation's largest telecommunications provider said most of the layoffs will be among managers.
The company had 309,500 employees at the end of last year. When it announced the acquisition of BellSouth Corp. in 2006, it has said it would cut 10,000 jobs over three years from the combined company to eliminate overlap. But the combined work force grew by 7,000 last year, as the company built up its growing wireless and TV divisions even as land lines shrank because of wireless and cable competition.
Cigna to stop paying
for medical errors
Insurer Cigna Corp. will stop reimbursing hospitals for major medical errors. ''This policy is about improving patient safety and eliminating avoidable errors,'' said Douglas Hadley, Cigna's medical officer.
Loss increases
for Twinkies maker
Get the full article here.
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