LOCAL

LOCAL

Valley Industrial Trucks has a new president

BOARDMAN — Jim Hammond of Canfield has taken over as president and owner of Valley Industrial Trucks. He had been vice president and sales manager.

He assumes control from Ron Doll and Debra D’Alesio, who had owned the company for more than 20 years. Doll and D’Alesio will remain on staff in advising capacities to ensure a smooth transition.

In a memo to company employees, D’Alesio said, “Ron and I have been officers of Valley Industrial Trucks for over 20 years, and we wish Jim a successful journey as the new president of Valley Industrial Trucks.”

“I see and expect substantial growth in the parts and service areas based on our commitment to developing new strategies and target markets,” said Hammond, who has a bachelor’s degree in business administration from Youngstown State University. He started with the company in 1993 as an outside sales representative.

Summitville Tiles lays off 59 at plant in Minerva

SUMMITVILLE — Summitville Tiles said the worsening recession has caused the layoff of 59 of the company’s 205 employees at its manufacturing plant in Minerva. The layoff was effective Monday.

Nine senior employees agreed to a voluntary layoff with rights to return in 30 days. The others who were laid off were those with the least seniority.

David Johnson, company chief executive, said the length of the layoffs are uncertain but he estimated that the layoffs may last eight to 10 weeks, depending on volume of new orders. The company has a solid amount of new orders on the books, but they have been put on hold by customers.

world

GM cuts production at plant in Russia

MOSCOW — General Motors Corp. said Tuesday it is cutting production in Russia as demand declines in a market only recently described as potentially the largest in Europe.

GM will slash the working week to three days after restarting the assembly line Feb. 9 following repeated shutdowns, company spokesman Sergei Lepnukhov said. “This will last for the next few months,” he said.

GM opened its new $300 million plant outside St. Petersburg in November with plans to produce 70,000 cars a year. But with the Russian market already contracting, the plant closed down for an extended holiday from Dec. 20 to Jan. 19.

NATION

Citigroup forgoes buying a new corporate jet

NEW YORK — Pressured by the Obama administration, Citigroup Inc. reversed course and said it will not take delivery of a corporate jet it previously planned to purchase.

The canceled deal comes amid a chorus of concerns from politicians who are worried about how banks that have received federal funds are spending the money. Citigroup has received $45 billion in capital from the government in recent months amid the ongoing credit crisis.

Buyers for Kraft, Frito-Lay to plead guilty in bribery

SACRAMENTO — Federal prosecutors say buyers for Kraft Foods Inc. and Frito-Lay Inc. are pleading guilty to taking bribes from a California-based tomato processor.

Prosecutors say the men helped drive up food prices nationwide.

Robert Watson of White Plains, N.Y., entered his plea in a Sacramento federal court Tuesday to accepting $158,000 from a sales broker at SK Foods of Lemoore. The 59-year-old Watson was a Kraft senior purchasing manager.

The U.S. attorney says 58-year-old James Wahl Jr., a former Frito-Lay purchaser from Dallas, also has agreed to plead guilty to accepting about $160,000.

From Vindicator staff and wire reports