Youngstown seeking utrafast network

March 27, 2010 at 12:00a.m.

MOUNTAIN VIEW, Calif.

More than 600 communities have approached Google Inc. in hopes of landing one of the ultra-fast broadband networks that the company plans to build in a handful of spots around the country.

Among those who completed a plan was a group from Youngstown, which was organized by the Youngstown Business Incubator. Last month, Google said it will build experimental fiber-optic networks that will deliver Internet connections of 1 gigabit per second to as many as 500,000 Americans. That would be up to 300 times faster than the broadband services reaching most U.S. homes today.

Economy grew 5.6% in 2009’s last quarter

WASHINGTON

The burst of energy the economy showed at the end of last year isn’t likely to be repeated anytime soon.

The Commerce Department reported Friday that the economy grew at a 5.6 percent pace in the October-to-December quarter in its third and final estimate of economic activity during the period.

Even though growth turned out to be a tad less than the government’s prior two estimates for the quarter, the new reading still marked the strongest showing in six years.

Chrysler to reinstate 50 of 789 dealers

DETROIT

Chrysler Group LLC said Friday it is offering to reinstate 50 of the 789 dealers that it previously tried to drop while it was making its way through Chapter 11 bankruptcy protection.

The dealers, which the company would not identify, are in areas that can offer service to customers without hurting the remaining stores in its network of 2,334 dealers selling Chrysler, Dodge and Jeep vehicles in the U.S., the company said. The dealers being offered reinstatement have not yet been notified of the company’s decision, a spokeswoman said.

Bankruptcy protection sought

DALLAS

The parent company of the firm that built the Dallas Cowboys’ ruined practice facility says it has filed for protection from its creditors under Canadian law governing bankruptcies.

Saskatchewan-based Cover-All Building Systems Inc. says it will seek to restructure its finances under court supervision while continuing “limited operations. A Cover-All subsidiary, Summit Structures LLC of Allentown, Pa., was responsible for the steel-and- fabric Cowboys’ facility that collapsed in a windstorm last May.

Health-care overhaul raising costs

NEW YORK

AT&T Inc. said Friday it will take a $1 billion noncash charge in the first quarter related to the health-care overhaul. AT&T’s charge is the largest announced so far. Earlier this week, AK Steel Corp., Caterpillar Inc., Deere & Co. and Valero Energy announced similar accounting charges, saying the health-care law that President Barack Obama signed Tuesday will raise their expenses.

AT&T said the charge is to reflect the change of the tax treatment of Medicare subsidies. Companies say the health-care overhaul will make a subsidy that companies receive for retiree drug coverage taxable in 2011.

Associated Press