Editorial: Give Detroit credit; Congress must act now to avoid a devastating blow, Akron Beacon Journal, December 5, 2008
Akron—At another time, bankruptcy would be a more practical option. Now? States such as Ohio would suffer a devastating blow. Better to manage the reshaping of the industry by putting up the money and holding the automakers accountable to firm benchmarks

Prevailing wage to get hearing, by Marc Kovac, Youngstown Vindicator, December 5, 2008
Columbus—Republican lawmakers and Gov. Ted Strickland have reached a compromise on prevailing wage guidelines, agreeing to jointly consider the issue through the state’s rule-making process.

Oil plummets on dire U.S. jobs figures, by George Jahn, AP via Akron Beacon Journal, December 5, 2008
Vienna, Austria—Oil prices plummeted today as the already battered market reacted to unexpectedly high U.S. unemployment figures—the latest dramatic evidence of recession in the world's largest market for crude.

Detroit Three chiefs say they made mistakes, vow to change; Auto bailout still uncertain, by Ken Thomas, AP via Akron Beacon Journal, December 5, 2008
Washington—U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive.

Layoff Announcements:

• ArcelorMittal Cleveland, citing downturn, lays off 340 steelworkers, by Frank Bentayou, Cleveland Plain Dealer, December 5, 2008
  
• SeverStal Steel mill seeks layoffs, Warren Tribune Chronicle, December 5, 2008
  
• General Motors Corp. to lay off 1,000 more workers in Lordstown, by Robert Schoenberger, Cleveland Plain Dealer, December 5, 2008
  
• 890 to be laid off at GM Lordstown complex, AP via Warren Tribune Chronicle, December 5, 2008

Timken returning to Canton after term as ambassador to Germany, Canton Repository, December 4, 2008
Canton—Former chairman, president and CEO of the Timken Company, William R. “Tim” Timken Jr. and wife Sue will return to Canton Friday as his term as U.S. ambassador to Germany ends.

Profitable Lincoln Electric cuts staff in anticipation of long recession, by Shaheen Samavati, Cleveland Plain Dealer, December 4, 2008
Cleveland—Despite healthy profits this year, Lincoln Electric Holdings Inc. says it's cutting costs and staff in "anticipation of a long, deep recession."

Factory orders drop more than expected in October, by Martin Crutsinger, AP via Akron Beacon Journal, December 4, 2008
Washington—Orders to U.S. factories plunged in October by the sharpest amount in over eight years as a deepening recession caused big cutbacks in demand for steel, autos, computers and heavy machinery. Analysts expect the weakness will continue for some time.

Cooper Tire, union in pact at Findlay plant, Toledo Blade, December 4, 2008
Findlay, Ohio—As the company studies which of its four North American plants to shutter, Cooper Tire & Rubber Co., the second-largest U.S. tire maker, said yesterday it reached a tentative contract with unionized employees at its Findlay plant. The plant manager said the new contract will position the Findlay plant in a competitive way.

Columbia Gas of Ohio wins rate increase; heavy users get break, by John Funk, Cleveland Plain Dealer, December 4, 2008
Columbus—Columbia Gas of Ohio won a $47 million rate increase Wednesday, a little more than half what asked for 18 months ago and the first base rate increase in 14 years.

Lincoln Electric increases dividend by 8%, Crain's Cleveland Business, December 4, 2008 [Subscription]
Cleveland—Lincoln Electric Holdings Inc. , a leading maker of welding equipment, said its board increased the dividend by 8%, to 27 cents a share from the previous 25 cents but did not explain the reason for the dividend hike.

RPM International backs away from fiscal 2009 earnings forecast, Crain's Cleveland Business, December 4, 2008 [Subscription]
New York—In a presentation at the 19th Annual Citi Chemicals Conference, RPM chairman and CEO Frank C. Sullivan said the continued deterioration of economic conditions would make it highly likely that RPM results for its 2009 fiscal year will be below the prior year.

Auto Industry Bailout

• Auto bailout: Chrysler exec visits Toledo, touts electric Jeep, Toledo Blade, December 4, 2008
  
• Chrysler execs rally support for aid at Ohio plant, by John Seewer, AP via Canton Repository, December 3, 2008
• UAW will give up major perk to help get Big Three government loans, by Robert Schoenberger and Stephen Koff, Cleveland Plain Dealer,
• UAW concedes to ward off a depression, by Tom Krisher and Kimberly S. Johnson, AP via Canton Repository, December 3, 2008
• Labor-green rift fogs chances for auto aid, AP via Youngstown Vindicator, December 4, 2008
• Big Three executives make pitch for bailout loans—but get no promises, by Robert Schoenberger, Cleveland Plain Dealer, December 4, 2008
  

Council of Development Finance Agencies looks for ways to aid Ohio development, by Michelle Jarboe, Cleveland Plain Dealer, December 4, 2008
Columbus—The Council of Development Finance Agencies is searching for ways to shepherd growth in the Buckeye State. The Cleveland-based national association has assembled a team of about 30 leaders from the public and private sectors to consider ways to work together and find money for projects.

Giant U.K. wind farm gets the go-ahead, BBC News, December 4, 2008
London—One of the largest offshore wind farms in the world has been approved to be built off the coast of north Wales. The new wind farm, combined with three other nearby smaller wind farms, will provide enough green electricity to power the equivalent of 680,000 homes.

Toledo scrambles to shake Detroit's dark shadow, by Anton Troianovski, Wall Street Journal, December 3, 2008 (Subscription)
Toledo—Dubbed the Glass City and the Auto Parts Capital of the World, Toledo is searching for a new identity. The city of 300,000 on the western tip of Lake Erie blossomed as a glass manufacturer and then a supplier for Detroit, 60 miles to the north. But the automotive industry's woes have stirred up fear among Toledo real-estate investors.

RPM International loses bid to get insurers to cover asbestos-related liabilities, by Frank Bentayou, Cleveland Plain Dealer, December 3, 2008
Medina, Ohio—RPM International Inc. said it will seek to overturn a ruling by a federal court in Ohio denying its suit to order five insurance companies to cover its asbestos-related liabilities.

Editorial: Strickland's budget warning is softened by the haze, Cleveland Plain Dealer, December 3, 2008
Cleveland—The upshot of Gov. Ted Strickland's dramatic but short-on-Ohio-specifics plea Monday for congressional aid: Ohio faces a ballooning budget deficit that he is constitutionally required to erase.

Weak car demand remains constant, Youngstown Vindicator, December 3, 2008
Youngstown, Ohio—A dreary economy, weak consumer confidence and tight credit markets have combined to keep consumers out of vehicle showrooms this year.

Manufacturing companies reassess India risks after Mumbai attacks, by Santanu Choudhury, Wall Street Journal, December 3, 2008 (Subscription)
New Delhi—Terror attacks in India's business and financial capital won't halt major investments by local and overseas manufacturing companies in the country, but may prompt some to defer their projects by a few months as they reassess security risks, said company executives and analysts.

Voinovich urges Congress to rescue Big 3, by Tom Troy, Toledo Blade, December 2, 2008
Washington—U.S. Sen. George Voinovich (R., Ohio) yesterday called on the Democratic leaders of the House and Senate to act quickly on a $25 billion bailout package for the auto industry and he questioned their expertise to evaluate the companies' viability plans.

Opinion: If Czechs can do it, why not Detroit? by Bernard Avishai, Washington Post via Canton Repository, December 2, 2008
Canton—Detroit's real problem is failing to stay competitive with global rivals in the realm of advanced principles of design and manufacturing. The author is a former technology editor of the Harvard Business Review and a former international director of intellectual capital at KPMG.

United Auto Workers to hold emergency meeting on bailout, by Tom Krisher, AP via Akron Beacon Journal, December 2, 2008
Detroit—Local United Auto Workers leaders from across the U.S. will hold an emergency meeting in Detroit on Wednesday to discuss concessions the union could make to help auto companies get government loans.

Nacco Industries watches demand for durable goods decline, by Frank Bentayou, Cleveland Plain Dealer, December 2, 2008
Mayfield Heights, Ohio—Recent data from the Commerce Department shows an 11.1% decline in October in the transportation segment. Several Cleveland manufacturers of durable goods that serve that segment are getting hammered by the ongoing brutal news.

Parker Hannifin buys Brazilian company, by Frank Bentayou, Cleveland Plain Dealer, December 2, 2008
Cleveland—Parker Hannifin purchased Detroit Plasticos e Metais S/A, a Sao Paulo, Brazil, maker of fittings, valves, manifolds and thermoplastic tubing.

Change likely for rate plan by FirstEnergy, by Jon Chavez, Toledo Blade, December 2, 2008
Toledo—An electric rate plan proposed by FirstEnergy Corp. that would raise customers' rates by an average of 5 percent annually over the next three years could be revised before it is acted upon by the Public Utilities Commission of Ohio this month.

Union willing to make sacrifice for auto bailout, by Robert Schoenberger and Stephen Koff, Cleveland Plain Dealer, December 2, 2008
Detroit—If it means getting federal bailout loans for Detroit's Big Three automakers, union workers may be willing to give up longstanding benefits that pay some employees after their plants close, leaders said Monday.

GM, Ford, Chrysler unveil restructuring plans, by Robert Schoenberger, Cleveland Plain Dealer, December 2, 2008
Cleveland—All of Detroit's Big Three automakers filed restructuring plans with Congress Tuesday. As part of its plan, GM wants to close nine plants by 2012, eliminating as many as 30,000 jobs.

Related stories:

• GM to slash brands, cut costs and slash executive salaries to win federal loans, by Robert Schoenberger, Cleveland Plain Dealer, December 2, 2008
• Ford expects to turn profit by 2011, Lima News, December 2, 2008

AK Steel announces surcharge, by Jessica Heffner, [Hamilton, Ohio] Journal-News, December 2, 2008
West Chester Township, Ohio—AK Steel Corp. will add a $10 per ton surcharge to customer invoices for electrical steel products shipped in January. The company also published surcharges for a broad range of stainless steel products on its web site.

US Steel idles 3 plants, affecting 3,500 workers, AP via Business Week, December 2, 2008
Pittsburgh—Over the next several weeks, U.S. Steel is idling Keetac, an iron ore mining and pelletizing facility in Keewatin, Minn.; Great Lakes Works near Detroit; and Granite City Works near St. Louis.

Opinion: America's other auto industry, Wall Street Journal, December 1, 2008
New York—There are 12 "foreign," or so-called transplant, producers making 54% of the cars Americans buy at plants located in the South and Midwest. Toyota, BMW, Kia aren't cheering for Detroit's collapse. But by the same token, a government lifeline for Detroit punishes these companies and their American employees for making better business decisions.

Related story: Ford considers selling Volvo, by Robert Schoenberger, Cleveland Plain Dealer, December 1, 2008

Manufacturing index drops to 26-year low, by Christopher S. Rugaber, AP via Yahoo News, December 1, 2008
Washington—The Institute for Supply Management's monthly index of manufacturing activity fell to 36.2 from October's 38.9. The reading is worse than Wall Street economists' expectations of 38.4, according to a survey by Thomson Reuters. A figure below 50 indicates the sector is contracting.

Related story: ISM Chair: Manufacturing still seeking a bottom, WSJ Economics Blog, December 1, 2008 (Subscription)

Businesses share cost-cutting ideas, by Paula Schleis, Akron Beacon Journal, December 1, 2008
Akron—Local companies say the volatile economy is teaching them to do without — or do things differently. The Akron Beacon Journal recently asked business owners and executives to share their cost-cutting strategies so that they might inspire others.

China factory output down sharply, BBC News, December 1, 2008
Beijing—China's manufacturing output fell sharply in November, just the latest sign that the global economic slowdown is impacting on its economy. The fall was caused by a sharp drop in new orders, especially from abroad.

Related stories:

• Asia's export engine splutters, by Peter Stein, Wall Street Journal, December 1, 2008 (Subscription)
• China manufacturing slows as downturn deepens, by Joe McDonald, AP via Yahoo News, December 1, 2008
  

Little Tikes to stay in Hudson for now, by Betty Lin-Fisher, Akron Beacon Journal, November 30, 2008
Hudson, Ohio—A new executive at Little Tikes Co. says the company is committed to growing in Hudson and is current on all payments to suppliers, despite some financial difficulties that the parent company has had in recent months.

Archway: Avalanche of costs led to closing, by Linda Martz, Mansfield News Journal, November 29, 2008
Mansfield, Ohio—Archway Cookies filed bankruptcy papers last month indicating climbing costs and accounting irregularities revealed by whistle blowers were behind the company's failure in October.

Related story: Union files objection to sale of Archway, by Linda Martz, Mansfield News Journal, November 29, 2008

Coke plant cuts loom; Local plant layoffs unlikely, by Larry Ringler, Warren Tribune Chronicle, November 29, 2008
Warren, Ohio—ArcelorMittal SA's Warren coke plant on Wednesday began cutting production, but so far no layoffs among the 126 union workers are scheduled, a union leader said Friday.