Events Calendar
In This Section
Most Read Stories
Akron police chase wild driver
Massillon band buses crash after playoff loss; students and driver injured
Friends' bond inspires viewers
Former model to speak out on AIDS
Redesigned Ohio license plate is busy but better
Four police officers killed in ambush in Tacoma
Tigers done in in 4th as run is over
Blogs:
Pets:
Dog makes off with family's frozen Thanksgiving turkey
The Heldenfiles:
Happy Thanksgiving
Patrick McManamon:
The Browns are behind the 1999 expansion pace
Akron Zips:
Zips soccer advances to Elite Eight
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Strange series
Kent State Sports:
Kent State beats Morehead State 63-57
Cleveland Cavaliers:
Cavs vs. Dallas Mavericks
Buckeye Blogging:
Buckeye Football – Present and Future
Varsity Letters:
Gridlocks Playoff Edition Week 4
All Da King's Men:
Climategate: This Is Not Science
Blog of Mass Destruction:
New 9-11 News
Akron Law Café:
Health Care Financing Reform: (74) Public Option "Trigger" in the News Again
See Jane Style:
Vintage Chic
Car Chase:
What Automotive Thing Are You Thankful For?
Let's Talk Real Estate:
Happy Thanks for giving!
Ohio Travels with Betty:
Jeanne inquires – what is the best place to see Amish country?
Sound Check:
On The Town: Top Entertainment Picks
HRLite House:
Genetic Discrimination
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Wednesday, May 14, 2008
Smucker purchases
Knott's food brand
J.M. Smucker Co. of Orrville announced Tuesday it purchased the Knott's Berry Farm food brand from ConAgra Foods Inc.
Terms and details about Knott's employment were not disclosed.
Knott's produces jams, jellies, preserves and gift boxes.
Smucker said the transaction does not include the Knott's Berry Farm amusement park, which is not owned by either company.
ConAgra Foods CEO Gary Rodkin said in a statement: ''Knott's Berry Farm is a very good brand, but given our priorities, we simply could not give it the attention it needs to grow. This transaction makes solid business sense for us.''
Smucker said the acquisition would add approximately $40 million in net sales, and that production will be ''transitioned to Smucker's manufacturing facilities over the next four months.''
Nissan forecasts
plunge in profits
Nissan became the latest major Japanese automaker to report booming earnings for the just-ended fiscal year — and forecast a plunge in profit for the current year, blaming a rising yen and soaring material costs.
''There is no way we can overcome these headwinds,'' Chief Executive Carlos Ghosn said.
Nissan Motor Co., Japan's third-biggest automaker, expects profit for the fiscal year through March 2009 to plunge 30 percent to $3.3 billion. Last fiscal year, its net profit rose 5 percent to $4.6 billion.
Bigger rivals Toyota and Honda also announced strong annual earnings and dismal forecasts amid worries about the slumping U.S. economy and strong yen. Toyota Motor Corp. is projecting a 27 percent tumble in fiscal-year profit, while Honda Motor Co. foresees an 18 percent drop.
New Wendy's CEO
says job cuts coming
Employees of Wendy's International Inc. should prepare for job cuts as the acquisition of the nation's third-largest hamburger chain by the owner of Arby's roast beef sandwich restaurants moves forward, the incoming CEO said.
Roland Smith, the chief executive of Atlanta-based Triarc Companies Inc., said in a letter to Wendy's employees that job cuts will come as the company examines ways to become more efficient.
Triarc, which owns Arby's, announced last month that it is acquiring Wendy's in an all-stock deal worth about $2.34 billion.
Some Jeep work
will remain in Ohio
Workers at Johnson Controls Inc.'s factory in Northwood near Toledo learned in February that their jobs building seats for the Jeep Wrangler were being outsourced to India by 2010.
But that plan might have proven to be a bit ambitious. On Monday, the manufacturing chief for Chrysler LLC told an automotive trade publication that at least part of the work — the more complex front seats — will stay in Ohio.
Meanwhile, the Indian company that won the work, Krishna Maruti Ltd., is looking for space in the Toledo area and plans to hire as many as 70 people to produce the rear seats, according to local economic-development sources. The Wrangler and Jeep Liberty and Dodge Nitro are made in Toledo.
Paper mill to build
greener facility
A paper manufacturer in southwest Ohio is breaking ground on a $30 million generating plant it says will significantly reduce greenhouse gas emissions.
SMART Paper is building the high-efficiency facility in Hamilton, about 25 miles northwest of Cincinnati. It will use biomass such as yard and industrial waste to generate electricity and steam to operate the paper mill.
More homeowners
facing foreclosure
More U.S. homeowners fell behind on mortgage payments in April, driving the number facing foreclosure up 65 percent versus the same month last year.
Nationwide, 243,353 homes received at least one foreclosure-related filing in April, up from 147,708 in the same month last year, said RealtyTrac of Irvine, Calif.
Smucker purchases
Knott's food brand
Get the full article here.
Comments
Click here to post your comments
