Friday, July 30, 2010
Seven Seventeen offers student loans
warren
Seven Seventeen Credit Union has committed $23 million to a new private student-loan program through Ohio Student Choice. The program, available to both undergraduate and graduate students, offers flexible repayment terms without prepayment penalties and no origination fees. Approved students receive a line of credit of up to $75,000, which can be accessed as needed throughout the years the student is in school. Student Choice loans feature several repayment options, including deferring payment while in school, interest-only payments during school and immediate repayment of principal and interest without penalty.
Seven Seventeen is one of 12 credit unions participating in the Ohio Student Choice program.
Fighting kids cancer
youngstown
Pizza Hut locations across Northeast Ohio, including Youngstown branches at 1705 South Raccoon Road and 3926 Youngstown Poland Road, will host Alex’s Lemonade Stands Saturday to raise funds and awareness about childhood cancer. All of the proceeds from the stands will benefit the foundation, which is dedicated to finding a cure for all childhood cancers. The events will take place from 3 to 7 p.m. Pepperoni pizzas also will be available for $5.50.
More Toyota recalls
NEW YORK
Toyota is recalling nearly half a million cars, most of them large sedans sold in the U.S., for problems that can cause the steering wheel to lock up. It’s the latest indication that the automaker is still struggling with vehicle problems even as it works to overhaul quality control.
The recall, announced Thursday, affects 412,000 vehicles in the U.S. — 373,000 Avalon sedans and 39,000 Lexus LX 470 SUVs.
Thursday’s announcement brings the size of Toyota’s recalls to about 9.5 million cars and trucks in the U.S. since October.
Goodyear has profit
CLEVELAND
Goodyear Tire & Rubber Co. reported a $28 million second-quarter profit Thursday in contrast to a loss a year ago as demand for its tires increased worldwide, especially in the key U.S. market.
The biggest U.S. tire company and third-largest globally said it sold more higher-end and Goodyear-branded tires and that more than offset higher materials costs.
Goodyear, based in Akron, reported net income of 11 cents per share for the April-June quarter, in contrast to a net loss of $221 million, or 92 cents per share, a year ago.
Citigroup settlement
WASHINGTON
Banking titan Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007.
The Securities and Exchange Commission announced the settlement with Citigroup on Thursday. It said the company repeatedly made misleading statements in calls with analysts and regulatory filings about the extent of its holdings tied to high-risk mortgages.
Staff and wire reports