Wooster firm at conventions
Startup company ABSMaterials Inc. of Wooster is among 10 small businesses planning to attend job-creation exhibitions at the Republican and Democratic conventions.
ABSMaterials is the only area startup invited to the Huffington Post expos. The company is developing water treatment systems using patented Osorb ó absorbent glass materials to remediate oils and solvents in water.
Stephen Spoonamore, co-founder of the company, and other ABS workers are scheduled to be on hand at the lunches and accompanying exhibitions, titled Opportunity: What is Working ó A Bipartisan Search for Solutions to the Jobs Crisis. The exhibitions will be today in Tampa, Fla., at the Republican convention, and Sept. 5, at the Democratic convention in Charlotte, N.C.
Goodyear receives IT honor
Goodyear Tire & Rubber Co. is a 2012 winner of the CIO 100 by CIO magazine, a publication for chief information officers and other information technology leaders.
The award recognized Goodyearís multi-year project to align its Europe, Middle East and Africa operations on a common business platform.
The CIO 100 award recognizes excellence in using information technology in innovative ways to deliver business value.
Consumer confidence falls
Americans are feeling worse about the economy than they have in a long time. Despite improving job and housing markets, consumer confidence fell to the lowest level it has been since November. The New York-based Conference Board said its Consumer Confidence Index fell to 60.6, down from a revised 65.4 in July. In November, the reading was 55.2.
Last monthís results are the latest swing in the index, which has been on a roller coaster. This year, it declined in January, rose in February and then posted four months of declines before registering an increase in July.
Gambling rejected in Illinois
Illinois Gov. Pat Quinn rejected a bill to expand gambling in the state, including a new land-based casino in Chicago, saying the proposal lacked sufficient regulatory oversight.
The plan also proposed establishing four new riverboat casinos and allowing slot machines at racetracks.
Property values rise in region
The Standard & Poorís/Case-Shiller index of property values in 20 cities increased 0.5 percent from June 2011, the first gain since September 2010, a report from the group showed.
Prices in the Cleveland metropolitan area rose 2.2 percent from a month earlier. Prices were up 7.33 percent from three months earlier and up 0.87 percent from a year ago. However, prices were still 5.30 percent lower than two years ago and 4.51 percent lower than three years ago.
Cadillac plans sales growth
General Motors wants to double the 2010 sales of its Cadillac luxury brand within two years, Don Butler, the brandís vice president for marketing, said.
GM sold 146,925 Cadillac cars and sport utility vehicles in 2010, according to Autodata Corp., an industry researcher. The leader that year was Toyotaís Lexus with 229,329 deliveries. BMW led last year with 247,907 sales. Cadillac, which was the top-selling U.S. luxury brand most recently in 1997, aims to compete for the title again with new models, such as the ATS compact sedan, Butler said. That car is one of 10 new or refreshed models the brand will introduce over three years.
Separately, GM is planning to stop production for about four weeks in September and October at the factory that makes Chevrolet Volt cars. Sales of the plug-in hybrid sedan havenít met Chief Executive Officer Dan Akersonís projections this year. Through July, GM sold 10,666 Volts in the U.S., according to researcher Autodata Corp. Akerson had aimed for sales of 60,000 globally, of which 45,000 would be delivered in the U.S. In June he said sales would probably total 35,000 to 40,000.
Davidís Bridal purchased
Clayton Dubilier & Rice LLC, the private-?equity firm that exited its ownership of Sally Beauty Holdings Inc. this year, is buying Davidís Bridal Inc. for $1.05 billion, gaining a retailer with more than 300 stores in North America. Analyst firm S&P said Davidís Bridal has more than half the market share in the $600-and-under bridal gown market.
Compiled from staff and wire reports