Business Digest

Delphi-retiree resolution passed

Warren

The Ohio Democratic Party Executive Committee unanimously passed a resolution in support of the Delphi Salaried Retirees Association’s efforts to restore members’ pensions.

Salaried retirees face pension cuts of between 30 percent and 70 percent in coming months.

The association has filed a lawsuit and had been trying to exert political influence to overturn Delphi’s decision to terminate its pension plans and turn them over to the Federal Pension Benefit Guaranty Corp.

Revere Data gets tax credit

Youngstown

The state has awarded Revere Data a 40 percent job-creation tax credit for the company’s new location.

The San Francisco-based company moved its financial research division into the Semple Building downtown in March and plans to have 40 to 50 employees within two years. The company now employs 11 workers at that site.

The tax credit, awarded for a six-year term, requires that the company remain at its current site for at least nine years. The credit is valued at $68,025 over the term.

Appliance rebates

COLUMBUS

Officials say most of the appliance rebates Ohio began offering Friday are already spoken for, including all the rebates for dishwashers.

The Ohio Department of Development says residents who want to buy a new, energy-efficient dishwasher and receive $100 back from the state now go on a waiting list for any rebates that were reserved but go unused.

Apple shares reach an all-time high

SEATTLE

Apple Inc. shares reached an all-time high Tuesday after a newspaper report said the iPhone could find a new U.S. sales outlet through Verizon Wireless.

Since its 2007 launch, the iPhone has been available in the U.S. only to subscribers of AT&T Inc., which uses a cellular-network technology called GSM.

The Wall Street Journal reported late Monday that Apple plans to release an iPhone this year that would work on CDMA networks — a technology used by Verizon Wireless and Sprint Nextel Inc. in the U.S., as well as some carriers overseas.

Home-price index rises in California

LOS ANGELES

A surprisingly strong rebound in California’s real-estate market helped lift a key home-price index for the eighth month in a row.

That’s good news for people who plan to sell their homes this spring. Prices are now up almost 4 percent from the bottom in May 2009, but still almost 30 percent below the May 2006 peak.

Prices rose 0.3 percent from December to January on a seasonally adjusted basis, according to the Standard & Poor’s/Case-Shiller 20-city home-price index released Tuesday. Prices increased in 12 cities in the index.

Vindicator staff/wire reports