Tuesday, November 16, 2004
LOCAL
Farmers Nationaldeclares dividend
CANFIELD -- Farmers National Banc Corp, the parent of Farmers National Bank, announced today that the corporation's board of directors has declared a fourth-quarter cash dividend of 16 cents per share on its common stock, payable on Dec. 31 to shareholders of record on Dec. 10, 2004.
Farmers National Bank operates 16 banking offices and ATMs throughout Mahoning, Trumbull and Columbiana counties. The bank offers a wide range of banking and investment services to companies and individuals, and maintains a Web site at www.fnbcanfield.com.
NATION
Multimillion-dollar dealto settle accusations
LOS ANGELES -- Plaintiffs in an employment discrimination lawsuit against Abercrombie & amp; Fitch said Monday they agreed to a multimillion-dollar deal that would settle accusations the clothing retailer promoted whites at the expense of minorities.
Details of the proposed settlement, which a federal judge would still have to approve, were not immediately available, but federal officials said it involved an "eight-figure dollar amount."
Model train maker Lionel files for bankruptcy
CHESTERFIELD TOWNSHIP, Mich. -- Model train maker Lionel LLC filed for Chapter 11 bankruptcy protection Monday, citing a jury's ruling that it must pay a rival for misappropriating designs.
A U.S. District Court jury in Detroit ruled Oct. 4 that Lionel and others must pay $40.8 million to Mike's Train House Inc. Lionel is appealing the decision.
Mike's Train House, based in Columbia, Md., sued Lionel in 2000, saying Lionel sold trains made from designs stolen from a South Korean manufacturer hired by Mike's Train House.
FOOD
Wrigley buys candy fromKraft for $1.5 billion
CHICAGO -- Life Savers and Altoids are leaving the suburbs for a view of the Chicago river. Few people in the food industry are surprised.
Wm. Wrigley Jr. Co. on Monday acquired the two popular brands from Northfield, Ill.'s Kraft Foods Inc. for $1.5 billion. Kraft had been shopping the convenience items since the summer and Wrigley had been identified as the likely buyer in October, according to analysts.