State files suit against
defunct Medina dealer
Attorney General Dave Yost has filed a consumer protection lawsuit against a former used car dealership and its owner who are accused of failing to deliver vehicle titles to customers in Northeast Ohio.
The suit was filed Thursday in Medina County Common Pleas Court against Carite Medina and owner Thomas Ciatti Sr. The Medina Road dealership is no longer in operation.
The Ohio Attorney General's Office received nine complaints against the business, with most of them alleging that Ciatti never provided titles for cars bought at the dealership. Ciatti attempted to resolve some of the complaints but claimed he lacked the money needed to resolve all of them, the state agency said in a news release.
The state Consumer Protection Section paid dealership customers $13,462 from the Title Defect Recision Fund.
Uber sets IPO pricing
at $45 per stock share
Uber is about to embark on a wild ride on Wall Street with the biggest and most hotly debated IPO in years.
The world's leading ride-hailing service set the stage for its long-awaited arrival on the stock market by pricing its initial public offering at $45 per share late Thursday.
The price is at the lower end of its targeted range of $44 to $50 per share.
Even at the tamped-down price, Uber now has a market value of $82.4 billion — significantly more than century-old automakers General Motors and Ford Motor.
Trading of Uber shares on the New York Stock exchange begins May 17.
says it's breakup time
Facebook co-founder Chris Hughes says it's time to break up the social media behemoth.
In a New York Times opinion piece published Thursday, Hughes said CEO Mark Zuckerberg has turned Facebook into an innovation-suffocating monopoly.
Hughes called Zuckerberg's power "unprecedented and un-American" and said his co-founder's focus on growth "led him to sacrifice security and civility for clicks."
Hughes roomed with Zuckerberg at Harvard and left Facebook in 2007. Hughes said he no longer has any ownership in Facebook or any other social media company.
Schick owner buys
upstart rival Harry's
The owner of Schick razors is acquiring upstart shaving company Harry's for $1.37 billion, continuing a trend of consolidation in the shaving industry, where established brands have struggled with the rise of digital-savvy newcomers.
Harry's has bedeviled Schick and Gillette for years using innovative subscription plans and sleek packaging and competitive pricing.
Under the agreement announced Thursday, investors in Harry's Inc. will take a stake of about 11 percent of Edgewell Personal Care Co., which manages Schick and other brands.