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Stocks slump after rise in unemployment rate
Boeing to cut 4,500 jobs as airline demand falls
U.S. retailers slashed 66,000 jobs in December
Jobless rate jumps to 7.2 percent in December
Federal loan deals bar strikes at GM, Chrysler
Group says U.S. 'wet dumps,' like nine in Ohio, pose threat
U.S. retailers ring up dismal sales
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Lakemore police say man killed his wife in standoff
Suspect in Lakemore standoff expected to recover
Police raid Akron gaming parlor
Storm could bring heavy snow tonight, Saturday; Parking bans in effect
Palin says she's been exploited by Couric and Fey
Suspected meth lab busted in Cuyahoga Falls
Browns' Mangini brings experience
Skeptics urging check of home program
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Cheryl Holdridge, R.I.P.
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Shapiro puts Indians in position to win
Patrick McManamon:
ESPN clears up a key to tonight's game
Browns Bulletin:
Browns may interview ex-Broncos GM
Cleveland Browns:
Mangini takes command
Cleveland Cavaliers:
Cleveland Cavaliers: Of Leprechauns and Losses
CavsHQ: A Fan's View:
The Countdown Begins - Cavs v. Celtics
Akron Zips:
Five things you should know about Miami
Varsity Letters:
Ignatius’ Kyle has busy offseason
Kent State Sports:
Volleyball players earn All-Academic honors
Car Chase:
January is auction time
See Jane Style:
Chicago Chic?
All Da King's Men:
Obama's Economic News Conference
Blog of Mass Destruction:
Why Israeli Leaders Terrorize Palestinians
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The Psychology Channel, Interesting Videos, Jobs in I-O, and Happy Birthday Elvis
Akron Gamer:
Games in '09: Resident Evil 5
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Axl Rose speaks on Guns & Rose(s)
Let's Talk Real Estate:
Mortgage Forgiveness Debt Relief Act of 2007 Extended
Published on Saturday, Nov 22, 2008
Citigroup directors
consider breakup
Pressure intensified on Citigroup on Friday to sell part or all of itself as its stock fell below $4 a share and fears escalated about future loan losses.
CEO Vikram Pandit told managers he opposes breaking up the company, but the bank's board of directors was meeting to discuss whether to do exactly that, the Wall Street Journal reported.
Citigroup is considered the most vulnerable among the major U.S. banks, failing to turn a profit in the past four quarters when rivals such as New York-based JPMorgan Chase & Co. and Charlotte, N.C.-based Bank of America Corp. managed to do so.
KeyCorp stock sinks
64 cents to $6.27
Shares of KeyCorp, Ohio's third-largest bank, fell in New York trading after it slashed its dividend Thursday for the second time this year.
The bank lowered its quarterly payout 67 percent to 6.25 cents a share after posting two consecutive quarterly losses and agreeing to sell a $2.5 billion stake to the U.S. Treasurys Troubled Asset Relief Program.
KeyCorp shares dropped 64 cents to $6.27. It was the second-worst performing stock tracked by the 24-company KBW Bank Index after Citigroup Inc. The Cleveland-based bank lost 73 percent of its market value this year.
Target rejects plan
for real estate trust
Target Corp. said Friday it will not implement a major shareholder's proposal to create a real estate investment trust, saying the value it would create is ''highly speculative.''
The retailer said it won't pursue the deal given the costs, risks and loss of financial flexibility. Investor William Ackman, who runs hedge fund Pershing Square, proposed separating the land Target owns underneath its stores and distribution centers.
Home prices drop
11 percent in Sept.
U.S. home prices dropped an average 11.2 percent in September as foreclosure sales and a glut of unsold properties depressed values, according to a home price index by First American CoreLogic.
Home prices have fallen for eight consecutive months at an annualized pace of 10 percent to 11 percent, said First American of Santa Ana, Calif.
Southwestern Ohio
to get federal grant
Southwestern Ohio will receive a $3.87 million federal grant to help with job training as shipping company DHL proceeds with plans to close its Wilmington, Ohio, facility, members of Congress said.
Rubber futures down
to four-year low
Natural rubber futures tumbled to the lowest in almost four years after data showed a deepening global recession, heightening concern demand will weaken for the commodity used to make car tires.
Futures in Tokyo fell as much as 9.8 percent to the lowest since January 2005, heading for the worst weekly drop in at least 27 years.
Drug distributor
to pay $350 million
McKesson Corp., the largest U.S. medicine distributor, agreed to pay $350 million to settle claims it fraudulently inflated the price of more than 400 prescription drugs.
McKesson, which admitted no wrongdoing, will also set aside about $143 million to settle claims from state health programs.
Wal-Mart chief Scott
to retire in February
Wal-Mart Stores Inc., the world's largest retailer, unexpectedly announced that its chief executive will retire in February and be replaced by the head of its international division.
The Bentonville, Ark.-based retailer said Mike Duke, 58, vice chairman of its international division, will take the reins from Lee Scott, 59, effective Feb. 1. Duke also becomes a member of the board.
Scott, who became president and CEO in 2000 and has been with the company since 1979, will chair the board's executive committee until 2011.
Duke joined the company in 1995. He was an executive at Federated Department Stores and May Department Stores for 23 years.
Citigroup directors
consider breakup
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