Events Calendar
In This Section
Famous hobby rocket begins new voyage at museum
UA stadium crews driving toward opening goal
10 runs barely enough in Tribe's win
Patrick McManamon: Varejao's $50 million deal isn't really $50 million
Hospital connects to patients online
Cavs, Varejao agree on six-year deal
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 in back near Akron park
Man shot outside his Akron home during robbery attempt
Man admits repeatedly biting 2-year-old
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 Wednesday, Feb 20, 2008
Corporate Express
rejects Staples' bid
Corporate Express NV of the Netherlands on Tuesday rejected an unsolicited buyout offer from Staples Inc., saying the office products supplier's $3.67 billion bid was too low. Staples said its offer was all cash.
Corporate Express was known as Buhrmann NV until last spring, when it changed its trading name to that of its most well-known brand, the Colorado-based corporation it acquired in 1999.
Thomson gets OK
to buy Reuters
Thomson Corp. won European regulatory approval to buy news and information service Reuters Group PLC but must sell off financial research units to eliminate antitrust concerns, the European Commission said.
EU regulators said the two companies also had agreed with the U.S. Department of Justice that Reuters would divest divisions that supply financial-market research reports, earnings estimates and economic data archives while Thomson would shed some basic financial data on companies.
Thomson's $15.8 billion deal for Reuters would cut the number of major companies selling information and trading systems to the financial services industry from three — Reuters, Thomson and privately owned Bloomberg LP — to just two.
High court rejects
Ford's tax appeal
The Supreme Court turned away an appeal by Ford Motor Co. in a tax dispute with the cities of Seattle and Tacoma.
Ford won't be able to recover $1.7 million in taxes it paid the two cities after they audited the company and assessed it for back taxes in 2003.
While the financial stakes are small, several business groups urged the court to take the case because they argued that more and more localities are imposing the type of tax at issue. Seattle and Tacoma impose a ''business activity'' tax on a company's gross receipts from wholesale sales.
Separately, the court stepped into a dispute over a labor union's use of fees paid by non-union employees to finance the labor organization's court battles in other states.
Twenty state workers in Maine are challenging the expenditure by the labor union that bargains on their behalf.
Chrysler buyouts
under wraps for now
Chrysler LLC doesn't plan to announce the number of workers taking its latest buyout offer for several more weeks, despite the passing of a deadline for thousands of Detroit-area workers to make a decision, a company spokeswoman said.
As of Monday, hourly workers at 11 of Chrysler's U.S. facilities had been scheduled to decide on the offers, which include a $70,000 incentive payment to retirement-eligible workers or $100,000 to workers who leave without future pension or health benefits.
KeyCorp to sell
preferred securities
KeyCorp, Ohio's third-biggest bank, plans to sell $250 million of 60-year enhanced trust preferred securities, according to a person familiar with the offering.
The securities may yield about 8 percent, said the person, who declined to be identified because terms aren't set. The Cleveland-based bank's KeyCorp Capital X unit is issuing the debt, which isn't callable for five years.
Separately, KeyCorp said it might have to write down about $65 million in commercial mortgages and securities backed by such loans because of falling market values.
The cost, totaling 16 cents a share, assumes that market conditions at the end of the first quarter will be similar to those as of Feb. 13, the company said in a regulatory filing.
Interstate union
against bonuses
Interstate Bakeries Corp., with operations in Akron and Tallmadge, shouldn't be allowed to give managers $6 million in bonuses because they failed to revitalize the bankrupt maker of Wonder Bread and Twinkies, the company's second-biggest union told a judge.
The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union generally supported the managers' turnaround efforts until Tuesday.
Corporate Express
rejects Staples' bid
Get the full article here.
Comments
Click here to post your comments
