Green economy growing in Ohio, says Pew Charitable Trusts, by Frank Bentayou, Cleveland Plain Dealer, June 12, 2009
Cleveland— While Ohio has been losing industrial jobs for years, employment at businesses focused on alternative and renewable energy and conservation have grown here by the fourth-highest margin of any state in the nation, according to a study a nonprofit group released today.

120 to take buyout at Goodyear Tire & Rubber Co.'s Akron Technical Center, by Frank Bentayou, Cleveland Plain Dealer, June 12, 2009
Cleveland—Members of the United Steelworkers union who make racing tires at Goodyear Tire & Rubber Co.'s Akron Technical Center have agreed to buyouts for 120 workers there, USW Local 2L reported Wednesday.

Chinese car-parts makers expand, by Patricia Jia Yi Ho, Wall Street Journal, June 12, 2009 (Subscription)
Beijing—While slowing demand has battered auto-parts makers in developed countries, the stars are aligning for Chinese companies once considered too inexperienced to supply global car makers.

NE Ohio manufacturers learn of options to diversify customer bases, by Dan Shingler, Crain's Cleveland Business, June 11, 2009
Independence, Ohio—About 60 manufacturers attended MAGNET's symposium on how to diversify into new markets. One attendee, Ike Tripp, president and CEO of ETNA Products in Chagrin Falls, already sells into 45 countries and 40 U.S. states. Mr. Tripp was at the meeting because he’d like to expand, especially into high-margin markets such as medical devices.

Fiat closes deal with Chrysler, by Jeff Bennett and Alex P. Kellogg, Wall Street Journal, June 12, 2009 (Subscription)
New York—According to individuals who attended a closed-to-the-public, company-wide meeting, new Chrysler chief executive Sergio Marchionne told employees that within 90 days, Chrysler will have a new product plan, including several models developed by Fiat. As part of the reorganization, former Toyota exec Jim Press will have the new title of deputy CEO and oversee the company's three brands: Chrysler, Jeep and Dodge.

• A new Chrysler is born; road ahead could be rocky, analysts say, news services via Toledo Blade, June 11, 2009
• Chrysler, Fiat form 6th largest carmaker, by Sara Gay Forden, and Mike Ramsey, Bloomberg News via Akron Beacon Journal, June 11, 2009
• Wrangler supplies life-support to Chrysler, by Larry P. Vellequette, Toledo Blade, June 11, 2009\
• At new Chrysler, problems of old Chrysler linger, AP via Youngstown Vindicator, June 11, 2009
• Products planned by new Fiat-led Chrysler, AP via Youngstown Vindicator, June 11, 2009

Twinsburg's massive stamping presses may attract buyer as Chrysler says goodbye, Cleveland Plain Dealer, June 11, 2009
Twinsburg, Ohio—The city has had several inquiries from manufacturers interested in buying the former Chrysler Stampling Plant, according to Mayor Katherine Procop.

GM pulls plug on hybrid model, by John D. Stoll and Sharon Terlep, Wall Street Journal, June 11, 2009
New York—General Motors Corp. has pulled the plug the hybrid-electric version of the Chevrolet Malibu sedan for the 2010 model year due to slow sales that has led to a backlog of inventory of the vehicles on dealer lots.

Cleveland Federal Reserve report details weaker regional economy, Akron Beacon Journal, June 11, 2009
Cleveland—The Federal Reserve Bank of Cleveland's "Beige Book" report shows that the regional economy weakened since mid-April with job losses in manufacturing, commercial construction and energy.

• Economic worst has passed, Fed suggests; 5 of 12 regions say slide is stabilizing, AP via Toledo Blade, June 11, 2009

Farécla Inc. inks distribution pact with PPG Industries unit, Crain's Cleveland Business, June 11, 2009
Chagrin Falls, Ohio—Chagrin Falls-based Farécla Inc. (the U.S. unit of United Kingdom-based Farécla Products Ltd.) signed a global sales and distribution deal with PPG Industries for its polishes, abrasives and waxes for use on aircraft coatings.

Babcock & Wilcox to announce it will make small nuclear reactor, by Stephen Koff, Cleveland Plain Dealer, June 10, 2009
Washington—Global manufacturer Babcock & Wilcox Co. Wednesday is expected to announce it will make a new, small nuclear reactor that will bring hundreds of new jobs to Euclid and Barberton. Permission to build the 125-megawatt reactor rests with the Nuclear Regulatory Commission.

• Viability of new small nuclear power reactors could be postponed by budget realities, by Stephen Koff, Cleveland Plain Dealer, June 10, 2009
• Babcock & Wilcox plans modular reactor, Akron Beacon Journal, June 10, 2009

Perrysburg solar firm gets $10M state loan, Toledo Blade, June 10, 2009
Perrysburg, Ohio—Willard & Kelsey Solar Group LLC has been awarded a $10 million loan from the $150 million advanced energy portion of Ohio’s Bipartisan Job Stimulus Plan.

P&G taps Bob McDonald as CEO, AP via Cleveland Plain Dealer, June 10, 2009
Cincinnati—Procter & Gamble Co. said Wednesday it chose 29-year company veteran Bob McDonald, citing his broad global experience, to lead the world's largest consumer-products company.

Fixed costs chafe at steel mills, by Robert Guy Matthews, Wall Street Journal, June 10, 2009 (Subscription)
Bridgeville, Pa.—Many stainless steel makers, facing high operating costs, are increasing prices despite weak demand. Steel service centers appear to be paying the higher prices, in part because they think they can pass them on and because they have fewer opportunities to find cheaper alternatives.

In Asia, hints of a distant and fragile recovery, by Bettina Wassener, New York Times, June 10, 2009
Hong Kong—The global economy may have stopped its free fall, but data from the Asia-Pacific region Wednesday underscored what economists have long been cautioning: that a return to actual growth is months off, and that once it does arrive, it will be feeble.

Obama names overseer to set pay at rescued companies, by Stephen Labaton, New York Times, June 10, 2009
Washington—The Obama administration appointed Kenneth R. Feinberg, a well-known Washington lawyer, to set the pay for 175 top executives at seven of the nation’s largest companies, including GM.

No more federal dollars planned for GM, Chrysler, AP via Cleveland Plain Dealer, June 10, 2009
Washington—Members of the administration's auto task force testified before the Senate Banking Committee Wednesday that it believes there are "reasonable scenarios" where taxpayers might get most or all of their money back for the rescue of GM and Chrysler.

After 50 years in U.S., Honda faces new challenges, AP via Cleveland Plain Dealer, June 10, 2009
New York—In the 1970s, Honda's relentless focus on quality control "created a contrast with where American cars were going," said Fred Notehelfer, a professor specializing in modern Japanese history at the University of California at Los Angeles. American cars at the time, he said, "were often flashy but falling apart very quickly. ... Japanese cars, especially Hondas, would keep running."

Judge says Delphi sale can't be private, AP via Cleveland Plain Dealer, June 10, 2009
New York—A bankruptcy judge said Wednesday that a formal sale process needs to be put in place in order to ensure that the potential sale of Delphi's assets results in the greatest possible return for the auto supplier's stakeholders.

Eaton unveils plans for Beachwood headquarters, by Jay Miller, Crain's Cleveland Business, June 9, 2009
Cleveland—Eaton Corp. started taking the wraps off its new headquarters today with a presentation before the Cleveland-Cuyahoga County Port Authority committee that reviews development finance projects.

Fund for Our Economic Future plans to stay the course, Crain's Cleveland Business, June 9, 2009
Cleveland—At their quarterly Funders Committee meeting, members of the Fund for Our Economic Future voted unanimously in support of a third phase of activity to start in February 2010 and end in February 2013.

Iron ore shipments down on Great Lakes, AP via Cleveland Plain Dealer, June 9, 2009
Cleveland—The Lake Carriers' Association said iron ore shipments on the Great Lakes are down substantially because of the low demand for steel. Through May, shipments are down 65 percent compared with a year ago.

Lordstown, six other GM plants to close for 4 more weeks this summer, AP via Cleveland Plain Dealer, June 9, 2009
Detroit—General Motors Corp. has decided to extend the temporary summertime closure of seven factories, including Lordstown, because widespread temporary shutdowns will not be enough to control a burgeoning supply of some models.

Cleveland State University to keep Wright Center after revising plan, by Janet Okoben, Cleveland Plain Dealer, June 9, 2009
Cleveland—Cleveland State University remains the host of the $23 million state-funded Wright Center for Sensor Systems Engineering, after management issues put the center's existence at risk. The new plan specifies that participating companies must prove that their technologies or products will be commercially marketable within three years.

Supreme Court clears way for sale of Chrysler to Fiat, AP via Cleveland Plain Dealer, June 9, 2009
Washington—The Supreme Court on Tuesday rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker Fiat.

• Court opens way for Chrysler sale, BBC, June 10, 2009
• Fiat buys Chrysler assets, sealing swift 42-day overhaul, by Michael J. de la Merced and Micheline Maynard, New York Times, June 10, 2009

Auto suppliers to seek billions more federal aid, AP via Cleveland Plain Dealer, June 9, 2009
New York—Automotive parts suppliers plan to seek an additional $8 billion to $10 billion in loan guarantees to help them weather a bleak auto sales environment and the bankruptcy court restructuring of major customers GM and Chrysler.

• Auto-parts suppliers to seek more government aid, by Josh Mitchell, Wall Street Journal, June 10, 2009 (Subscription)