Container Top
Homes   Jobs   Cars   Shopping
Search

Events Calendar

EVENT SEARCH:

In This Section


Most Read Stories


Blogs:


Pets:
It Takes All Kinds

The Heldenfiles:
Tuesday Notebook

Patrick McManamon:
An interesting thought from a reader

Akron Zips:
Akron vs. Mount Union — Liveblog

Tribe Matters:
Indians announce spring dates

Cleveland Browns:
Mangini doesn't name a quarterback

Kent State Sports:
Flashes interested in another Cincinnati player

Cleveland Cavaliers:
Shaq: It’s All About Winning Championships

Buckeye Blogging:
Buckeyes Roll 100-60 / Season Outlook

Varsity Letters:
Report: Walsh baseball player commits

All Da King's Men:
More On The Fort Hood Jihadist

Blog of Mass Destruction:
Simply Incapable of Telling The Truth

Akron Law Café:
Health Care Financing Reform: (63) Commonwealth Fund Report on Primary Care

See Jane Style:
Muffle Your Muffler

Car Chase:
Clock Tender- Extending the Life of Collector Car Clocks

Let's Talk Real Estate:
Rumors: Akron Starbucks Closing

Ohio Travels with Betty:
Jack is looking for a trip to Southern Ohio the week of November 16.

Sound Check:
Aeromsith looking for new singer as Steven Tyler contemplates solo career

HRLite House:
Personal Rant – Why People Do Not Live in Northeast Ohio

Akron Gamer:
Video: 'Modern Warfare 2' hits the streets

Daily backgrounder - Dec. 3

AmTrust Bank starts laying off workers

AmTrust Bank said it has begun laying off workers as part of a cost-cutting effort announced last week.

The Cleveland-based bank with Summit County operations started notifying workers Monday; all affected employees should be notified this week, said spokeswoman Donna Winfield. She said bank executives aren't releasing the number of jobs that will be cut.

The bank employs about 2,700, with 1,800 in Ohio.

Employees will be offered severance packages and job counseling.

In addition, the bank said it is ''aggressively pursuing additional capital'' to strengthen its finances.

Winfield declined to say whether the bank was applying for money through the U.S. Treasury's rescue program.

The bank is under a formal order from federal regulators to improve its finances, stop soliciting deposits by offering high interest rates and stop writing certain kinds of risky loans.

Rubber futures drop for second day

Natural rubber futures dropped for a second day to the lowest in five years as falling oil prices cut costs of making rival synthetic products and slumping car sales weakened demand for the commodity used to make tires.

Futures in Tokyo fell as much as 8.1 percent to 114.2 yen a kilogram ($1,222 a metric ton), the lowest since July 2003.

Prices retreated 67 percent from a 28-year high June 30, when record oil prices boosted investor demand for commodities as an inflation hedge.

Plain Dealer lays off 27 union journalists

The Plain Dealer reduced its unionized newsroom staff in Cleveland on Tuesday by about 21 percent, laying off 27 journalists.

The journalists, who were notified with a phone call at home in the morning, are to receive two weeks of pay before a severance package kicks in. The severance package is equivalent to one week's pay for every six months worked, capped at 52 weeks' pay.

About 25 other unionized journalists have accepted a voluntary layoff, making the total leaving the newsroom around 50, said Rollie Dreussi, executive secretary of the Northeast Ohio Newspaper Guild Local 1.

100-year Treasury bonds are touted

BlackRock Inc.'s Peter Fisher said the U.S. Treasury should consider selling 100-year bonds to ease the federal government's borrowing costs as it faces a budget deficit expected to top $1 trillion.

''If you issued a 100-year bond and had principal and interest pay down smoothly over the last 50 years, you create a great borrowing device that would let us move this hump of borrowing over the generational retirement that's coming up,'' said Fisher, managing director and co-head of fixed income at BlackRock.

Washington Mutual to lose 9,200 jobs

JPMorgan Chase & Co. said it will cut 9,200 jobs at Washington Mutual, which it acquired Sept. 25.

AmTrust Bank starts laying off workers

Get the full article here.


Story tools

Email  Email   Print  Print   Save  Save   Reprint  Reprint   Popular  Most Popular   Reprint  Subscribe

Share this story

AddThis Social Bookmark Button
















Most Commented Stories