NEO Capital Initiative forms, by Shaheen Samavati, Cleveland Plain Dealer, October 11, 2007
Cleveland—A new local initiative, the NEO Capital Initiative, will solicit $35 to $50 million from foundations and other institutional investors by the end of the year. The effort is spearheaded by the Cleveland Foundation, the GAR Foundation, Fund for Our Economic Future, NorTech, BioEnterprise, JumpStart and Buckeye Venture Partners.

Cleveland port wants in on container shipping, by Tom Breckenridge, Cleveland Plain Dealer, October 11, 2007
Cleveland—The Cleveland-Cuyahoga County Port Authority released a study it commissioned on the potential for the port to capture a piece of the nation's container-shipping market. Some 115,000 containers from foreign countries are delivered yearly into Northeast Ohio, bearing everything from sporting goods to auto parts.

UAW shifts focus to Ford after tentative Chrysler pact, Wall Street Journal, October 11, 2007 (Subscription)
Detroit—In a radio interview on Thursday, union President Ron Gettelfinger said that the tentative agreement reached with Chrysler follows the pattern set by the union's deal with General Motor Corp., and added that he expects to reach similar terms with Ford. Ford Chairman Bill Ford Jr. said the auto maker can live with the contract as patterned with GM.

Chinese corruption 'astonishing', BBC World Service, October 11, 2007
Washington—The Carnegie Endowment for International Peace says corruption is one of the most serious threats to China's political stability, costing the country more than $86 billion a year; an estimated 10% of the government's procurement budget. The full text of the report, "Corruption Threatens China’s Future," is available for free download from the think-tank's Web site.