Japanese company names local company distributor
SHARPSVILLE, Pa. -- Futaba Corp., a Japanese company that makes wireless radio remote controls for industrial and commercial uses, has named Cattron-Theimeg as its exclusive distributor for North and South America. Futaba's industrial radio control products have been distributed in Canada on a non-exclusive basis by Cattron-Theimeg Canada, Ltd. Futaba said its wireless products will complement the remote control products of Sharpsville-based Cattron-Theimeg. Jim Robertson, president and chief operating officer of Cattron-Theimeg, said combining the expertise of the two companies will result in more products and enhanced service and support.
Regulators issue subpoenain energy swap probe
COLUMBUS -- Federal regulators investigating energy trading activities have issued a subpoena to American Electric Power, seeking more information about a type of energy swaps that could inflate revenues and trading volumes in electricity markets.
The subpoena by the Securities and Exchange Commission follows an August informal request that the Columbus-based utility provide it with documents related to such "round-trip" or wash trades.
Pilots consider pay cuts
FORT WORTH, Texas -- Over the next two weeks, American Airlines pilots must decide which is worse -- steep salary cuts and 2,500 positions culled from their ranks or a company bankruptcy filing in which a court is likely to impose even harsher measures.
Pilots may opt for a one-year pay cut of 23 percent and a 17 percent pay cut for the remainder of the six-year agreement, union leaders say. The deal also provides profit sharing of up to 15 percent annually and stock options.
From Vindicator staff and wire reports