Business digest

REGION

Plumbers union likely to go on strike

YOUNGSTOWN — The Plumbers and Pipefitters Local No. 396 have reportedly rejected a contract proposal and could go on strike Monday.

According to a news release Tuesday from the Plumbing Heating and Cooling Contractors of Eastern Ohio, Local No. 396 was offered a three-year contract that included an increase in wages and benefits of $1 in the first year (2009-10), $1.25 in the second and $1 in the third. Officials said the offer represented “a 7.8 percent increase over the life of the contract.”

According to the news release, the union took a strike vote May 7 — two weeks before the final contract was proposed. The PHCC was notified Tuesday that the chapter had rejected the offer.

Ron Schultz, executive director of the PHCC, declined to comment about the talks. Mark Ledger, negotiation chairman with PHCC, did not return a phone call seeking comment Wednesday. There are no meetings scheduled between the two parties, the contractors said.

Ribbon-cutting planned

BOARDMAN — The new owners of The Joshua Tree, 4416 Market St., will have a ribbon-cutting ceremony at 10 a.m. Friday. Dave and Amanda Hippenstiel acquired the store last August. The store has been open for more than 20 years.

NATION

Hyundai recalls Sonatas to replace door handles

WASHINGTON — Hyundai Motor Co. is recalling more than 90,000 Sonata sedans to replace door handles that have caused cuts on the fingers of some motorists.

The South Korean automaker says the recall affects 2002 and 2003 model year Sonatas. The company says chrome plating on the interior handles could wear down and lead to cracking and a sharp edge.

Banks make profit in first quarter

WASHINGTON — The nation’s banks turned a profit in the first quarter, but the number of problem banks jumped to the highest level in 15 years, the government said Wednesday.

The Federal Deposit Insurance Corp. said higher trading revenues and lower borrowing costs at big banks helped the industry earn a $7.6 billion profit in the January-March period, compared with a record loss of $36.9 billion in the fourth quarter.

The profit was 61 percent below the $19.3 billion earned in the year-earlier period.

From Vindicator staff and wire reports