Events Calendar
In This Section
Hospital connects to patients online
AutoZone to replace Blockbuster in West Akron
Gains in financials, material stocks lift market
Jobless claims indicate economy remains weak
Citigroup shuffles executives, former CFO leaving
GM, Chrysler fight reopening of closed dealerships
YRC, Teamsters reach tentative deal on concessions
Most Read Stories
Akron police investigate teen mob attack on family
Woman, 75, charged with beating fawn to death
Akron woman found dead at Brimfield Township store
Man shot outside his Akron home during robbery attempt
Man shot in back near Akron park
Suspect sought in Portage Path bar robbery
Tragic day puts man on path to be Pinnacle owner
Blogs:
Pets:
Dogs' Bark: Not fair! Study shows pups get jealous
The Heldenfiles:
Who Will Get the Michael Media Treatment Next?
Patrick McManamon:
More on Varejao
Akron Zips:
Opponent outlook: Kent State
Browns Bulletin:
Quick thought on Browns rookies
Tribe Matters:
Wedge challenges relievers
Cleveland Browns:
Stallworth test showed marijuana
Kent State Sports:
Men's Basketball Scheduling update
Cleveland Cavaliers:
Andy’s Signed According to ESPN
All Da King's Men:
Does Medicare Have Lower Administrative Costs ?
Blog of Mass Destruction:
CIA Did Mislead Congress
Akron Law Café:
Breaking Story: CIA Lied to Congress about Secret Program
Varsity Letters:
East basketball update
See Jane Style:
Oh Baby!
Car Chase:
Where do We Go from Here?
Let's Talk Real Estate:
Closings….Not the Good Kind!
Ohio Travels with Betty:
Margy inquires-when is a Taste of Hudson?
Sound Check:
LeVert II live performance Saturday night — "Dedication" album due July 13,
HRLite House:
DDI One of Best Places to Work
Akron Gamer:
First 24 'Guitar Hero 5' songs announced
Published on Friday, Nov 21, 2008
Steve & Barry's buyer in default
BH S&B Holdings, the investor group that bought retailer Steve & Barry's LLC out of bankruptcy in August for $163 million, sought court protection itself, citing the deteriorating U.S. economy.
BH S&B was formed by Bay Harbour Management LC, York Capital Management and Hilco Merchant Resources LLC, with Steve & Barry's co- founders Steven Shore and Barry Prevor as investors.
The new company said it defaulted on senior secured loans, has no financing prospects and intends to liquidate all inventory by early next year.
In September, the company said stores in Akron at Chapel Hill Mall, in Jackson Township on Belden Village Street, in New Philadelphia at the New Towne Mall, and in Cleveland at Richmond Town Square would remain open. Six Northeast Ohio stores closed.
PNC stock issue to pay for NCB
PNC Financial Services Group Inc., the Pittsburgh-based bank that agreed to buy National City Corp., said it would issue 93 million shares of common stock tied to the deal.
The bank will also issue 1,500 shares of preferred stock to pay for its $5.2 billion acquisition of Cleveland-based National City, PNC said in a regulatory filing. PNC has agreed to sell $7.7 billion in preferred shares and $1.1 billion in warrants to the U.S. Treasury.
FirstMerit to pay cash dividend
FirstMerit Corp. declared a quarterly cash dividend of 29 cents per share, payable Dec. 15 to shareholders of record Dec. 1.
KeyCorp slashes dividend 67 percent
KeyCorp, the third-largest bank in Ohio, slashed its dividend by 67 percent after posting two straight quarterly losses.
The dividend of 6.25 cents a share will be payable Dec. 15 to shareholders of record on Dec. 2.
Honda plans to trim U.S. production
Honda Motor Co., the only major automaker to expand North American output this year, will trim production at U.S. plants by 18,000 more vehicles as sales decline. Cuts include 12,000 light trucks at its Lincoln, Ala., plant and 6,000 vehicles at factories in Marysville and East Liberty, Ohio.
Firestone says pact will help all Liberia
Firestone Natural Rubber Co. LLC, Liberia's biggest rubber plantation, says its new concession agreement signed with the government this year will benefit all the people of the west African country.
Firestone was responding to criticism from a Liberian conservation group, Save My Future Foundation, and international campaigner, Global Witness, that the agreement, by excluding the company's U.S. parent, will make it more difficult for Liberia to seek compensation if the contract is breached.
134 Wendy's jobs to leave Ohio
Wendy's central Ohio headquarters will lose 134 jobs next year through consolidation after the burger chain's recent takeover by Arby's owner Triarc Cos. Inc.
Wendy's said 120 of those jobs will be transferred to Atlanta, the home base of the new Wendy's/Arby's Group.
Steve & Barry's buyer in default
Get the full article here.
Comments
Click here to post your comments
