Business digest

REGION

Ribbon-cutting for RubberBand Gym

WARREN — There is a ceremonial ribbon-cutting at 10:30 a.m. Monday for the RubberBand Gym on Elm Road Northeast. The owner is Frank Calvin, a certified Flexband instructor.

Calvin, a retired production supervisor from the General Motors Lordstown fabrication plant, began working out with Flexbands six years ago.

A former Marine, he introduced the Flexband workout to the Marine Corps Recruit Depot of Parris Island, S.C., three years ago, and has worked with the Expeditionary Warfare Training Group Atlantic of Little Creek, Va., and numerous colleges and high schools.

Hours of operation for The RubberBand Gym will be limited during the start-up period.

The gym will be open Monday through Friday from 8 a.m. to noon and 4 to 8 p.m. Flexband classes will be at 8:30 a.m. and 6 p.m. Mondays, Wednesdays and Fridays. Saturday hours are 9 a.m. to 1 p.m. with Flexband classes at 9:30 a.m. Orientation for new members is at 11 a.m. Saturdays.

Little Ceasars ceremony

BOARDMAN — A ceremonial ribbon-cutting is planned for 11 a.m. Tuesday for the opening of Little Ceasars Pizza on Boardman-Poland Road.

The owner is Louis Achkar, who over the past seven years has grown his franchise of Little Caesars Pizza shops to eight stores throughout Ohio.

NATION

Price of stock warrants

WASHINGTON — The Obama Administration has established the process for determining the price for millions of stock warrants the government holds that represent the final ties many large banks have to the $700 billion bailout program.

The Treasury Department says the banks will have an initial 15-day period when they can make an offer for how much they are willing to pay for the warrants. Treasury will use various methods to determine whether to make a counteroffer. If the government and a bank cannot agree on a fair price for the warrants, the two sides will have the right to use private appraisers.

Some of the nation’s largest banks have been eagerly awaiting Treasury’s decision. They were among a group of 10 banks that repaid a total of $68 billion in bailout funds last week.

From staff/wire reports