breaking news

Facebook hunting photos lead to wildlife charges for New Carlisle men

In brief


DEVELOPMENT

Bond considered for new company

The Montgomery County Community Improvement Corporation (CIC) will consider a $6.75 million bond next week for a company that wants to move into and improve the former REX building off Needmore Road in Harrison Twp.

The CIC board will weigh a $6,750,000 bond for Earth City, Mo.-based idX Corp. to move into 2875 Needmore Road, the former REX electronics and appliances showroom.

The company will use the site to manufacture retail store fixtures, according to an agenda for the CIC board.

If the project comes to fruition, 130 full-time jobs would be retained and some 120 new jobs would be created, according to CIC documents. New annual payroll would amount to $3.5 million to $4 million. idX currently has a local site at 721 Springfield St.

The company would use $5.5 million for real estate acquisition and $1.25 million for building improvements, according to the agenda.

The CIC board meets at 10:30 a.m., Oct. 17 at the Montgomery County administration building. THOMAS GNAU

ACQUISITIONS

Cooper Tire, Apollo Tyres agreement grows strained

Cooper Tire & Rubber Co. shares plunged Monday as its $2.2 billion deal with Apollo Tyres Ltd. becomes more uncertain.

India’s Apollo is seeking a lower price than the original $35 per share it offered Cooper in June because of added costs for union matters. Findlay, Ohio-based Cooper said it does not agree with such a price reduction.

Investors are increasingly concerned that the deal could fall apart. Under the terms of the agreement, if the deal is delayed past Dec. 31 it can be terminated without penalty. If it is completed, the deal would create the seventh-largest tire company in the world.

Shares of Cooper fell nearly 13 percent to $25.81 in afternoon trading. Its stock has traded between $18.38 and $34.79 in the past 52 weeks, peaking in June when the deal was announced.

The deal between Cooper and Apollo had been approved by the boards of both companies and Cooper shareholders. However, union talks led to a delay and the deal’s future has been complicated by escalating conflicts between the companies. ASSOCIATED PRESS

ADVERTISING

Chrysler readies ads for Jeep Cherokee

DETROIT — Chrysler has a marketing campaign ready to go for the Jeep Cherokee as soon as the long-delayed vehicles are shipped to dealers, Olivier Francois, Chrysler’s chief marking officer, told the Detroit Free Press.

Shipments of the Cherokee have been delayed because of issues with the SUV’s nine-speed transmission. Chrysler had hoped that dealers would begin receiving Cherokees in September.

As with other Chrysler advertising rollouts, Francois said the campaign for the Cherokee is intended to help the vehicle stand out from its competition. ASSOCIATED PRESS


Reader Comments ...


Next Up in Business

Gander Mountain stores to reopen under new name
Gander Mountain stores to reopen under new name

Gander Outdoors, formerly known as Gander Mountain, announced an initial list of retail stores that are scheduled to open in 2018. Camping World Holdings Inc. was chosen as the winning bidder at a bankruptcy auction for certain acquired assets of Gander Mountain and the sale was approved in a bankruptcy court hearing in May 2017. Dozens of Gander...
Manufacturing wins help push Ohio jobless rate down
Manufacturing wins help push Ohio jobless rate down

Gains in manufacturing jobs helped push Ohio’s unemployment rate down a tick last month, to 4.7 percent, down from 4.8 percent the month before. Ohio’s non-agricultural wage and salary jobs increased by 2,500 over the month, from a revised 5,539,700 in November to 5,542,200 in December 2017, the Ohio Department of Job and Family Services...
Meet the most generous book lover in Yellow Springs
Meet the most generous book lover in Yellow Springs

Countless books of the odd and unexpected varieties are in the hands of many people who have visited Yellow Springs, thanks to Kate Mooneyham.  >> 5 things to do in Yellow Springs Mooneyham, manager of Dark Star Books in Yellow Springs, has been consistently placing a large box of FREE books in the alley behind her and her mother&rsquo...
Good Samaritan closing: Employees still in shock 
Good Samaritan closing: Employees still in shock 

A day after the announcement that Good Samaritan Hospital will shut its doors for good at the end of the year, employees said their still trying to come to grips with the initial shock.  Some didn't know anything about it prior to the announcement, while others say they'd heard behind-the scenes rumblings. But all of them said Thursday that there's...
Premier planning to redevelop Good Sam site once hospital closes
Premier planning to redevelop Good Sam site once hospital closes

Premier Health officials have told this news organization that they want to "transform" the soon-to-be former main campus of Good Samaritan Hospital once the facility closes at the end of the year. They don't know exactly what redevelopment will look like on the site once the buildings are razed, but they say it's a process they will be...
More Stories