Business News Digest

REGION
Home sales, pricesdecline in region
YOUNGSTOWN -- A nine-county region that includes the Mahoning Valley recorded fewer home sales and a lower average sale price last year.
The Ohio Association of Realtors said Thursday that the region had 20,530 sales of new and existing homes last year, which was down 3 percent from the year before. The average sales price last year of 131,700 was down 2 percent.
The region includes Mahoning, Trumbull, Columbiana, Summit, Portage, Stark, Carroll, Tuscarawas and Coshocton counties.
The region's numbers mirrored those at the state level. The association said statewide sales were down 3 percent last year at 142,400, and the average sales price was down 2 percent at 153,500.
Board of F.N.B. Corp.announces meeting
HERMITAGE, Pa. -- The board of directors of F.N.B. Corp. said its annual meeting of shareholders will be May 14.
Shareholders will act on the election of directors, approval of the F.N.B. Corporation 2007 Incentive Compensation Plan, ratification of the appointment of the independent registered public accounting firm and any other matters that properly come before the shareholders.
Ex-Key Bank executiveto plead guilty to fraud
CLEVELAND -- A former KeyBank vice president accused of embezzling 40 million agreed to plead guilty Thursday to bank fraud, the prosecutor said.
David Verhotz, fired as head of the bank's international loans unit, will admit taking money over nine years beginning in 1997 when he enters his guilty plea in U.S. District Court in Akron, Assistant U.S. Attorney Jack Sammon said. The charge carries a maximum penalty of eight years in prison, and sentencing is not expected for at least two months.
NATION
Sales of existing homessee biggest drop since '89
WASHINGTON -- Sales of existing homes fell in December, closing out a year in which demand for homes slumped by the largest amount in 17 years.
The National Association of Realtors reported that sales of existing homes were down 0.8 percent last month, a bigger decline than had been expected. For the year, sales fell by 8.4 percent, the biggest annual decline since 1989, when existing home sales fell by 14.8 percent.
The sales figure underscored the sharp contraction that is going on in the once high-flying housing market, which before last year had set sales records for five straight years.
GM considers sellingAllison Transmission
DETROIT -- General Motors Corp. said Thursday that it may sell its Allison Transmission division as part of its effort to raise money and focus on its core business.
GM said in a news release that "it is looking at strategic options" for the Indianapolis-based transmission unit "including a potential sale of the business."
Allison Transmission has 3,400 employees and seven plants in Indianapolis.
It makes and sells automatic transmissions for commercial and military vehicles.
From Vindicator staff and wire reports