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Pension Crisis Prompts Companies to Consider Changing Their Plans
Wednesday, April 28, 2004CHICAGO -- More than half (52 %) of companies polled by Deloitte Consulting LLP are considering changes or already have made changes to their pension plans in the past year. Buffeted by increased costs due to falling interest rates and investment returns and by continued pressure from financial analysts to limit future risk, more companies are opting to move away from defined benefit plans.Among those respondents that have changed their plans, the single most common shift (among 38%) was freezing their pension plan and moving to a defined contribution plan.
Cox Radio Reports Net Revenues of $93.1 Million
Wednesday, April 28, 2004ATLANTA -- Net revenues for the first quarter of 2004 at Cox Radio Inc. were $93.1 million, up 2% from first quarter of 2003. National revenues increased 3%, while local revenues were flat, as compared to the first quarter of 2003. Stations in Atlanta, Orlando, Tampa, Richmond and Greenville-Spartanburg delivered strong growth during the first quarter of 2004, while stations in Miami, Houston, Jacksonville, Fla., and Long Island, N.Y.
Slippery Rock Offers Ethics Minor in Philosophy Department
Wednesday, April 28, 2004SLIPPERY ROCK, Pa.
FOX News Channel Beats CNN and MSNBC Combined in April
Wednesday, April 28, 2004NEW YORK -- FOX News Channel beat CNN and MSNBC combined in viewership and demographics in the Prime Time and 24-Hour time periods for April, according to Nielsen Media Research.In addition, Fox continued its dominance, capturing 10 out of the top 1 shows in cable news. CNN's only show in the top 11, Larry King Live, remained at number four with 1,335,000 viewers.
Ohio Boaters Get Free Safety Inspections Next Month
Wednesday, April 28, 2004COLUMBUS, Ohio -- Ohio boaters are encouraged to take advantage of free vessel safety checks during May in observance of National Safe Boating Week, May 22 to 28, according to the Ohio Department of Natural Resources. The free safety checks are part of a new education campaign by the ODNR Division of Watercraft, its statewide boating partners, and the U.S. Coast Guard called "You're In Command.""The initiative encourages all recreational boaters to take responsibility for their actions on the water," says Ken Alvey, chief of the ODNR Division of Watercraft.
Manufacturers Reluctant to Invest in New Hires
Wednesday, April 28, 2004NEW YORK -- U.S. industrial manufacturers expect to reduce their overall work force by 1.9% over the next 12 months, according to the first quarter 2004 PricewaterhouseCoopers Manufacturing Barometer. At the same time, the survey shows that more manufacturers plan to add to their workforce than reduce it (36% versus 23%).Despite these mixed signals, however, these executives are increasingly optimistic about the economy and expect top-line growth for the year."Job growth is a concern, as manufacturers desire to remain lean, doing more with less," says said Dean Simone, U.S.
Americans Spend Big on Pet Projects
Wednesday, April 28, 2004GREENWICH, Conn.. -- As Americans prepare to celebrate their passion for pets this May 2-8 for National Pet Week, it appears their affectiontoward pets is definitely more than puppy love. In fact, the pet industry is truly top dog when it comes to spending, according to the American Pet Products Manufacturers Association.While other sectors have suffered during several years of a weak economy, pet spending has doubled from $17 billion in 1994 to a projected $34.3 billion this year -- 100% growth.2003 was also even more successful than projected with total sales coming in at $32.4 billion.
United States Steel Corp. Nets $58 Million for First Quarter
Tuesday, April 27, 2004PITTSBURGH -- United States Steel Corp. today reported first quarter 2004 net income of $58 million, or 47 cents per diluted share, compared to a net loss of $22 million, or 26 cents per diluted share, in last year's fourth quarter and a net loss of $38 million, or 40 cents per diluted share, in the first quarter of 2003.Also today, Chairman and Chief Executive Officer Thomas J. Usher announced that he has elected to retire as chief executive officer at the end of September, to be replaced Oct. 1 by current President and Chief Operating Officer John P. Surma.
Columbiana Port Authority Acts on Wellsville Park, Fiber Optics System, to Save Jobs"
Tuesday, April 27, 2004EASTLIVERPOOL, Ohio -- The Columbiana County Port Authority authorizedtaking out bridge loans of $717,000 and $250,000 Monday night.The former would advance relocating railroad tracks that servethe Wellsville Intermodal Industrial Park. The latter would advancea fiber-optics system to serve the businesses in the county andthe public schools in Columbiana and Mahoning counties.Theauthority also authorized its chairman, Russell Albright, orvice chairman, Carl Pelini, to bid up to $550,000 at the sheriff'ssale for the Sterling China Co.