Events Calendar
In This Section
Matsos bottling a dressing that’s selling in 25 states
Economic survey: Job losses to bottom out in first quarter
Ohio gas prices up 12 cents from last week
SCORE offers wide variety of workshops
After 30 years at the helm of Akron Children's, Considine still looks to future
New version of Mozilla Thunderbird landing soon
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Akron man killed in crash on his street
Can DNA tests free ex-Akron captain?
Browns find another way to lose
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Sunday Notebook
Patrick McManamon:
Browns sick after sick loss in Detroit
Akron Zips:
Zips advance to Sweet Sixteen
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Post-game defensive quotes
Kent State Sports:
Kent State defeats Rochester College, 63-44
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
The Sunday Sanity Challenge
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (70) Savings in Medicare Advantage
See Jane Style:
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 – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Thursday, Aug 14, 2008
Timken receives
order for China plant
And the Aluminum Medal for Best Performance in Tapered Bearings goes to . . . the Timken Co.
OK, we all know there is no Olympic medal for bearings in the summer games in China.
But Timken has received an order in the low-multimillion-dollar range to provide large-bore tapered roller bearings for a high-precision aluminum rolling mill being built in northwestern China.
The Canton-based bearings and specialty steel maker designed bearings for Qinghai Ping'an High Precision Aluminum Co. Ltd., which is constructing the new hot strip mill in Ping'an, Qinghai province.
Kroger, union reach
tentative agreement
The Kroger Co. grocery operator said it reached a tentative deal with the union representing Columbus-area workers.
The agreement announced Wednesday must be ratified by members of the United Food and Commercial Workers Union Local 1059. It represents more than 11,000 Kroger workers at 87 stores.
Skechers makes bid
for Heelys sneakers
Skechers USA Inc. made an unsolicited offer to buy Heelys Inc., the maker of wheeled sneakers, for $142.8 million.
BMW AG recalls
200,000 vehicles
BMW AG said it was recalling 200,000 vehicles over concerns that the front passenger air bag might not deploy in a crash.
The German automaker said the recall involves the 2006 3 Series, the 2004-2006 5 Series, and the 2004-2006 X3 compact sport utility vehicles in the United States.
Alltel Corp. states
loss of $70 million
Alltel Corp., which is still paying the price of being acquired by private investors, said it lost $70 million in the second quarter as interest and other costs gobbled up its earnings.
Alltel, which in June agreed to be acquired by Verizon Wireless for $5.9 billion, said sales rose 10 percent from a year ago to $2.39 billion. But the $70 million loss contrasted with a profit of $196 million in 2007.
Alltel was taken private last year and took on an estimated $23 billion in debt to finance the $24.7 billion buyout by TPG Capital and GS Capital Partners.
Continental rejects
rival's latest offer
German auto parts maker Continental AG, which is Europe's second largest tire maker, again declined a bid by rival Schaeffler KG to take it over, leaving the possibility open to more talks.
Hannover-based Continental said in a statement the offer price of 70.12 euros ($104.48) per share in cash remained ''inadequate from a financial point of view.''
With about 161 million Continental shares outstanding, privately held Schaeffler's offer is worth approximately $17 billion.
If a takeover effort is successful, it would make Schaeffler the world's biggest auto component maker, putting it ahead of competitors like Robert Bosch GmbH.
Schaeffler makes ball bearings for the industrial, aviation, aerospace and automotive sectors as well as components for engines, transmissions and drive trains.
Cerberus, Carlyle
sell big investments
Cerberus Capital Management LP and Carlyle Group sold two investments worth a combined $6.6 billion, indicating that private equity firms can make money even when they can't raise financing for new deals.
Cerberus sold Talecris Biotherapeutics Holding Corp. to CSL Ltd., the world's second-largest maker of blood plasma products, for $3.1 billion, reaping about 22 times more than its original cash investment.
Carlyle, based in Washington, sold U.S. steel maker John Maneely Co. to Russia's OAO Novolipetsk Steel for $3.5 billion, more than six times what the buyout firm originally paid for the company in 2006, the companies said.
Carlyle Group is the owner of Fairlawn-based Veyance Technologies, which is the former Goodyear Engineered Products unit.
Timken receives
order for China plant
Get the full article here.
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