Events Calendar
In This Section
Reports on consumer confidence, GDP tug at stocks
Facebook creates dual-class stock structure
Consumer group warns about toy hazards
Americans gloomy on economy heading into holidays
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
Most Read Stories
2 men shot during party in Fairlawn
Cancellation of Christmas not an option
Akron man killed in crash on his street
Several people hurt in Akron crash
Victim of beating in Kent last week is declared dead at Akron hospital
Police: Pennsylvania man killed misbehaving puppy before Steelers game
Akron Circle K store robbed for second time this month
KSU suspends basketball player
Akron Children's Hospital CEO, wife announce $1 million gift to support research
Blogs:
Pets:
A Dog Named Christmas – Pet for the Holidays
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:
What Automotive Thing Are You Thankful For?
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, 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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