Cleveland Ohio Business News
Latest Local Business, Financial and Economics News
Obama signs homebuyer, jobless bill assistance
By Associated Press business staff
November 06, 2009, 12:21PM
The bill-signing at the White House Friday came a day after the House, displaying rare bipartisan agreement over the seriousness of the jobless situation, voted 403-12 for the measure. The Senate approved it unanimously on Wednesday. Full story »
U.S. unemployment rate tops 10% for first time since 1983
By Associated Press business staff
November 06, 2009, 8:31AM
The nation's unemployment rate topped 10 percent in October for first time since 1983, the government reported today. Full story »
About 70,000 Ohioans are expected to be eligible for 20-week extension in unemployment benefits
By Olivera Perkins
November 05, 2009, 6:31PM
About 70,000 out-of-work Ohioans, struggling through a prolonged economic downturn, could be eligible for 20 more weeks of unemployment benefits as a result of congressional action Thursday. Full story »
Congress votes for more aid to jobless, homebuyers
By Associated Press business staff
November 05, 2009, 3:22PM
The House passed the bill on a 403-12 vote Thursday, a day after the Senate ended a monthlong stalemate with a 98-0 vote. With some 7,000 people exhausting unemployment benefits every day and the $8,000 tax credit for first-time homebuyers set to expire at the end of November, there was a sense of urgency in getting it to Obama's desk. Full story »
Jump in productivity puts job creation in doubt
By Associated Press business staff
November 05, 2009, 10:32AM
The good news for companies, though, is bad news for the jobless. As long as companies can get their workers to produce more, they have little reason to hire -- at least until consumer spending picks up. And the squeeze on incomes could depress consumer spending, putting the economic recovery at risk. Full story »
Lawmaker wants sick pay for workers with swine flu
By Associated Press business staff
November 03, 2009, 6:08PM
Many of those employees work in low-wage jobs in food service and hospitality, where they could make others sick. House Education and Labor Committee chairman George Miller says those workers shouldn't have to choose between their paychecks and the health of co-workers or customers. Full story »
ATM maker Diebold Inc. hires Dayton native Bradley Richardson as new CFO
By Janet Cho, The Plain Dealer
November 02, 2009, 6:00PM
Richardson, 51, is currently executive vice president, corporate strategy, and chief financial officer of the Modine Manufacturing Co. of Racine, Wisc., a $1.4 billion auto, heavy duty parts and specialty heating and air conditioning manufacturer with 32 facilities in 15 countries. Full story »
Rule change would boost unions at airlines, railroads
By Associated Press business staff
November 02, 2009, 1:45PM
A proposed rule announced Monday would recognize a union if a majority of voting workers favor organizing. Current rules require a majority of an entire work group to vote for a union in order for it to be certified. That means a worker choosing not to vote at all is effectively casting a "no" vote. Full story »
Making that first hire was scariest moment: Talk With the Boss
By Teresa Dixon Murray, The Plain Dealer
November 01, 2009, 8:39AM
Kevin Myeroff, president of NCA Financial Planners in Mayfield, joined his father's three-person company in 1986. Today Myeroff leads one of the largest independent financial planning firms in the country, with 30 employees and $1.1 billion in client assets under management, and is a regular financial contributor on WKYC Channel 3 and WTAM radio. Full story »
U.S. Bank honors volunteers, including Alicia Bailey-Shields, Kevin Clancy and John Gingerich: Business Notebook
By Plain Dealer business staff
November 01, 2009, 8:34AM
U.S. Bank of Minneapolis presented Five Star Volunteer Awards for exceptional volunteer service to Alicia Bailey-Shields, a home mortgage loan specialist in Bedford who volunteers at Glendale Primary School; Kevin Clancy, a branch manager in Cleveland who volunteers with Community Assessment and Treatment Services Inc.; and John Gingerich, a Cleveland consumer lending sales representative, who volunteers with Families and Friends of Metzenbaum Center. U.S. Bank donated a total of $1,500 to the organizations. Full story »
Fired Dix & Eaton executive wins $1 million after complaining about age discrimination
By Olivera Perkins
October 30, 2009, 6:05PM
The Cuyahoga Common Pleas jury entered the judgment Thursday in favor of Antonia Susel, who alleged that the company retaliated against her after she alleged that her boss wanted to replace her with a man nearly half her age, said one of her lawyers, Dianne V. Foley. Full story »
Workers may see higher costs, more benefit choices
By Associated Press business staff
October 30, 2009, 2:59PM
Many companies are adding inexpensive voluntary options including vision or dental insurance, disability coverage or extra life insurance coverage -- options that cost companies very little because employees pay for them. Full story »
Pay, benefits rise at slowest pace since 1982
By Associated Press business staff
October 30, 2009, 12:39PM
With employers cutting costs to maintain profits, they are sharply reducing the rate of growth in total compensation, economists said. The average cost of wages, health care and other benefits increased 1.5 percent in the year ending in September, the smallest gain since records began in June 1982, the Labor Department said Friday. Full story »
First-time jobless claims drop, but not as much as expected
By Associated Press business staff
October 29, 2009, 9:00AM
The Labor Department said today its tally of newly laid-off workers seeking unemployment insurance fell by 1,000 to a seasonally-adjusted 530,000. Analysts expected a steeper drop to 521,000, according to a survey by Thomson Reuters. Full story »
Activists demand that InkStop pay its workers' overdue wages
By Janet Cho, The Plain Dealer
October 28, 2009, 5:32PM
The Lakewood store is among 152 the Warrensville Heights company operated in 14 states in its heydey before abruptly shutting down on Oct. 1. The company notified employees via fax, e-mail and phone call that they had lost their jobs and were not getting their final paychecks. Full story »
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