This Week's Earnings Reports

• Park-Ohio loses $5.5 million in first quarter, by FrankBentayou, Cleveland Plain Dealer, May 8, 2009
• OM Group loses $8.3 million in first quarter; sales dive 60 percent, by Robert Schoenberger, Cleveland Plain Dealer, May 7, 2009
• Invacare profit up 8.5 percent in first quarter, Cleveland Plain Dealer, May 7, 2009
• Ferro Corp. loses $20 million in first quarter as sales fall 39 percent, by Robert Schoenberger, Cleveland Plain Dealer, May 7, 2009
• Steris Corp. posts higher profit, raises dividend, Cleveland Plain Dealer, May 7, 2009
• Profit falls 58% at FirstEnergy, by Betty Lin-Fisher, Akron Beacon Journal, May 5, 2009
• TransDigm Group reports solid increase in second-quarter profits, Crains' Cleveland Business, May 5, 2009
• Diebold reports lower first-quarter profits, AP via Canton Repository, May 5, 2009
• Diebold to cut 300 jobs after profit plunges 88 percent, by Janet H. Cho, Cleveland Plain Dealer, May 5, 2009

OMA Event: The New Energy Climate for Manufacturers, Friday, June 12, 2009, 8:30 a.m. to 4:00 p.m., The Riffe Center, 77 South High St., Columbus. Co-sponsored by Ohio University's Voinovich School and the Ohio Manufacturers' Association.
Manufacturers will hear up-to-date information on state and national energy and climate policy and for tools and examples of ways that industry can prepare, adapt.

Delphi salaried workers face layoffs, by Larry Ringler, Warren Tribune Chronicle, May 6, 2009
Warren, Ohio—Delphi Corp.'s U.S. salaried workers, including those at Delphi Packard Electric local operations, will have to take at least two weeks of layoff between Monday and July 31 due to shutdowns by General Motors Corp. and Chrysler LLC.

Norton plant accuses Alcoa of forcing bankruptcy, Akron Beacon Journal, May 6, 2009
Norton, Ohio—Aluminum-wheel maker B&C Corp., which is in Chapter 11 bankruptcy proceedings, is suing Alcoa for breach of contract, theft and fraud among other allegations.

Ford to build electric Focus in Wayne, will retool plant, by Brent Snavely, Detroit Free Press, May 6, 2009
Detroit—Ford Motor Co. said today it will spend $550 million to retool its Michigan Assembly Plant in Wayne to build the European version of the Ford Focus and also announced it will build a battery-powered electric version of the Focus at the same plant.

• Ford brings new focus to small-car market, by Matthew Dolan, Wall Street Journal, May 6, 2009 (Subscription)

Rolls-Royce Fuel Cell Systems will get more funds for fuel-cell research, Canton Repository, May 5, 2009
Jackson Township, Stark County, Ohio—Rolls-Royce Fuel Cell Systems at Stark State College of Technology will receive $1.54 million to help in its quest to develop fuel cells for commercial use.

Loan will assist Columbiana Co. Port Authority, by Mark Kovac, Youngstown Vindicator, May 5, 2009
Columbus—A state-lawmaker panel signed off on a $4.5 million forgivable loan to assist the Columbiana County Port Authority in its efforts to develop a clean-fuels facility in the village of Wellsville

Midwest governors promote wind energy, by Mike Glover, AP via Akron Beacon Journal, May 5, 2009
Des Moines, Iowa—Midwestern governors gathered Tuesday to promote wind energy as a way to boost the region's sagging industrial economy. Ohio Governor Ted Strickland said the nation was on the verge of a breakthrough in how it produces power.

• Ohio Gov. Ted Strickland pushes alternative energy at Windpower 2009 conference, by John Funk, Cleveland Plain Dealer, May 5, 2009
• Miracle juice: Governors, Wellinghoff see wind power as savior, by Keith Johnson, Wall Street Journal Environmental Capital Blog, May 5, 2009 (Subscription)

• Editorial: Offshore wind's big potential, Cleveland Plain Dealer, May 6, 2009
  Cleveland—If Cleveland wants a big future commensurate with its big industrial past, the multimillion-dollar wind-energy pilot project in Lake Erie outlined last week by local officeholders, foundation officials, professors and developers would be a great start.

Latest data suggest recession easing, Warren Tribune Chronicle, May 5, 2009
Washington—Evidence that housing is poised to improve and optimism about the results of banking ''stress tests'' raised hopes Monday that the recession is easing and helped lift a key stock market measure into the black for the year.

• Bernanke: Economy should grow again later in 2009, by Jeannine Aversa, AP via Yahoo News, May 5, 2009

Chrysler financing gets OK, Akron Beacon Journal, May 5, 2009
New York— A bankruptcy judge on Monday gave Chrysler access to a crucial $4.5 billion to fund the carmaker's operations through the end of June, creating a ''bridge'' to the sale of the company's most valuable assets to Italy's Fiat Group SpA.

• Judge approves bidding procedures for Chrysler, Reuters.com, May 6, 2009
• Chrysler lenders must reveal identities today, judge rules, Bloomberg News, May 6, 2009
• Chrysler gets OK to access $1.8B in loans, Toledo Blade, May 5, 2009
• Chrysler probably can’t repay loans, AP via Youngstown Vindicator, May 5, 2009
• Chrysler lender group opposes sale process, Reuters.com, May 5, 2009
• Chrysler's new models threatened by plant shutdowns, by Neal Boudette, Wall Street Journal, May 4, 2009 (Subscription)

• Chrysler's survival far from certain, by Alison Fitzgerald and Doron Levin, Bloomberg News via Akron Beacon Journal, May 6, 2009
  Richmond Hill, Ontario—''There have to be three near-miracles'' for a partnership with Italy's Fiat SpA to succeed in rescuing Chrysler LLC, said auto-industry analyst Dennis DesRosiers.

CEO says GM could still sidestep bankruptcy, by Tom Krisher, AP via Akron Beacon Journal, May 5, 2009
Detroit—With just a month left to complete restructuring moves, General Motors' CEO says it's still possible that the company can avoid following Chrysler into bankruptcy.

• General Motors, UAW to resume talks Thursday, Akron Beacon Journal, May 6, 2009

Wind-power giant keeps to its course, by Paul Glader, Wall Street Journal, May 5, 2009 (Subscription)
New York—Danish wind-power giant Vestas Wind Systems A/S is hoping that a greener U.S. economy will translate into more green in the bank.

Siemens to build $50 million wind power factory in Kansas, by Paul Glader, Wall Street Journal, May 5, 2009 (Subscription)
New York—Siemens AG plans to announce today that it will open a $50 million facility in Hutchinson, Kan., to make wind-turbine parts for the North American market.

Indian steel forges in U.S., by Robert Guy Matthews, Wall Street Journal, May 5, 2009 (Subscription)
Little Rock, Ark.—With U.S. steel mills operating at their lowest levels since the Depression, India's Welspun-Gujarat Stahl Rohren Ltd. last week opened a $150 million plant here to make steel pipe.

China solar set to be 5 times 2020 target, by Rujun Shen and Jacqueline Wong, Reuters.com, May 5, 2009
Shanghai—China is set to smash its target for a roll-out of solar power by 2020 more than fivefold and possibly even tenfold, according to the National Development and Reform Commission.

Companies seeking assist with client diversification, by Chuck Soder, Crains' Cleveland Business, May 4, 2009 (Subscription; free PDF available)
Cleveland—The Manufacturing Advocacy & Growth Network is now offering services to help manufacturers diversify into markets such as advanced energy, medicine, aerospace and defense to protect themselves from the recession.

Chrysler accused of misleading Twinsburg about keeping plant open after bankruptcy, by Robert Schoenberger and Stephen Koff, Cleveland Plain Dealer, May 4, 2009
Twinsburg, Ohio—Last Thursday, when Chrysler filed for Chapter 11 bankruptcy protection, the company and administration officials said no more plants would permanently close. Court documents filed later that day showed plans to close five, including the 1,250-job Twinsburg Stamping Plant.

• Twinsburg task force to form, by Jim Mackinnon, Akron Beacon Journal, May 4, 2009
• Chrysler in hand, Fiat turns to Opel, by Stacy Meichtry, Wall Street Journal, May 4, 2009 (Subscription)

Plant manager at Alcoa's Cleveland Works receives YWCA 2009 Women of Achievement Award, by Janet H. Cho, Cleveland Plain Dealer, May 4, 2009
Cleveland—On Monday, the YWCA Cleveland presented a Women of Achievement Award to Gena Lovett, plant manager at Alcoa's Cleveland Works. She was one of five recipients so honored.

Myers Industries considers selling four businesses, Cleveland Plain Dealer, May 4, 2009
Akron—Myers Industries Inc. is looking at a range of restructuring options, for its automotive and custom segment.

• Myers Industries considers selling four businesses, by Jim Mackinnon, Akron Beacon Journal, May 4, 2009

Wind power initiative on Lake Erie passes feasibility test, by Chuck Soder, Crains' Cleveland Business, May 4, 2009 (Free Article)
Cleveland—The Great Lakes Energy Development Task Force 's year-long feasibility study recommended the pilot project be build just east of Cleveland’s water intake crib, three miles north of shore for between $77-$93 million.

• Report: Lake Erie turbines feasible, AP via Youngstown Vindicator, May 4, 2009

Public-sector loans boost local business expansions, by Jay Miller, Crains' Cleveland Business, May 4, 2009 (Subscription)
Cleveland—The city of Cleveland, the state of Ohio and Cuyahoga County in recent days have agreed to lend more than $8 million to help three businesses east of downtown Cleveland put together expansions totaling at least $16 million.

Auto sales stay in rut amid GM, Chrysler woes, by Sharon Terlep, Wall Street Journal, May 4, 2009 (Subscription)
Detroit—U.S. vehicle sales turned out even worse than expected in April, muting optimism that the auto market is poised to rebound.

• New car order: The U.S. auto industry's road to recovery won't be easy, by Joseph B. White, Wall Street Journal, May 1, 2009 (Subscription)

Ohio's wind turbine makes its debut today, by Paula Schleis, Akron Beacon Journal, May 4, 2009
Akron—Green Energy Technologies, an Akron start-up company, will unveil its patented urban "Wind Cube" next week at the American Wind Energy Association's trade show in Chicago.

• Demand for small-scale wind turbines growing among Ohio businesses, by John Funk, Cleveland Plain Dealer, May 1, 2009

China posts increasein manufacturing activity, Wall Street Journal, May 4, 2009 (Subscription)
New York—Manufacturing activity in China continued to pick up in April, adding to recent signs of improvement in the economy amid an aggressive government stimulus program.

Fiat confirms talks to buy GM Europe, by Nicole Winfield, AP via Cleveland Plain Dealer, May 4, 2009
Rome, Italy—Fiat Group SpA confirmed Sunday it was in talks to acquire General Motors' European operations with the aim of possibly creating a new company to also include its newly acquired Chrysler automaker.

• Fiat would not run up debt in deal, AP via Youngstown Vindicator, May 5, 2009

Green jobs: Will clean-tech boom mean manufacturing jobs? by Keith Johnson, Wall Street Journal Environmental Capital Blog, May 4, 2009
New York—Jeannine Sargent, chief executive of Swiss-based Oerlikon Solar, sees parallels between the semiconductor industry and the potential for the wind energy industry to create manufacturing jobs in the U.S.

Made in Stark: PJ's Fabricating in Canton, by G. Patrick Kelley, Canton Repository, May 3, 2009
Canton—The third in a series about things manufactured here in Stark County.

Editorial: Obama offers a welcome lift for the Great Lakes, Cleveland Plain Dealer, May 3, 2009
Cleveland—President Barack Obama's promise to upgrade the health of the planet's largest group of freshwater lakes. emerged intact in the 2010 budget that Congress approved Wednesday. While we applaud his bold request, we recognize that the devil will be in the details.

Akron-based firm building imaging machine for Alzheimer's research, by Paula Schleis, Akron Beacon Journal, May 3, 2009
Akron—FMI Technologies Inc., the newest tenant of the Akron Global Business Accelerator, is trying to raise $6 million to build prototypes of such an imaging system and conduct clinical trials.

Chrysler shutdown forcing layoffs at its area suppliers, by Larry P. Vellequette, Toledo Blade, May 2, 2009
Toledo—Chrysler LLC's decision to shutter its plants for the duration of its bankruptcy launched a quick economic bullet to area suppliers, sending their workers to the unemployment lines. The Blade estimated that about 3,000 area supplier employees will be affected by the Chrysler shutdown, on top of about 3,000 local Chrysler workers collecting unemployment benefits.

• Options promised to workers at Twinsburg, Ohio plant, AP via Youngstown Vindicator, May 3, 2009
• UAW wins a big Chrysler stake but can’t run company, AP via Youngstown Vindicator, May 3, 2009
• Chrysler to shut eight factories in four states, by Bree Fowler and Vinee Tong, AP via Akron Beacon Journal, May 2, 2009
• Chrysler will close plant in Twinsburg, AP via Canton Repository, May 2, 2009
• Second-shift workers at Wrangler plant told not to report to work, by Larry P. Vellequette, Toledo Blade, May 1, 2009
• Chrysler plans to close Twinsburg plant by December 2010, by Michelle Jarboe, Frank Bentayou and Laura Johnston, Cleveland Plain Dealer, May 1, 2009
• Twinsburg plant gets ax, by Katie Byard and Rick Armon, Akron Beacon Journal, May 1, 2009

Auto sales plummet 34 percent, Bloomberg News via Akron Beacon Journal, May 2, 2009
New York—Chrysler's U.S. sales plunged 48 percent in April as it slid toward bankruptcy, helping drag Toyota, Ford and Nissan to declines that exceeded analysts' estimates.