Eligible for benefits

Eligible for benefits

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U.S. Sen. Sherrod Brown, D-Ohio, announced that more than 1,000 workers from RG Steel in the city are eligible for benefits to help them transition to new jobs and purchase affordable health care insurance.

Workers will be eligible for two federal programs. Under the Trade Adjustment Assistance program, workers can receive job training, income support, job-search allowances and relocation allowances.

The second option extends the Health Coverage Tax Credit, which helps trade-affected workers and their families purchase private health coverage to replace the employer-sponsored coverage they may have lost.

RG Steel filed for bankruptcy May 31, prompting a series of layoffs that began in June. To learn more about the assistance programs visit www.doleta.gov/tradeact/.

AEP dividend

COLUMBUS

The American Electric Power Co. announced a regular quarterly cash dividend of 47 cents per share Wednesday. The dividend is payable beginning Sept. 10 to shareholders of record as of Aug. 10.

American Electric Power Co., based in Columbus, serves more than 5 million customers in 11 states.

Ex-Citigroup CEO: Break up big banks

NEW YORK

Sandy Weill is having a change of heart.

Weill, the aggressive dealmaker who built Citigroup on the idea that in banking, bigger is better, said Wednesday he thinks big banks should be broken up.

Speaking on CNBC’s “Squawk Box,” the 79-year-old Weill appeared to shock the show’s anchors when he said that consumer-banking units should be split from riskier investment-banking units.

That would mean dismembering Citigroup as well as other big U.S. banks, such as JPMorgan Chase and Bank of America.

It’s an idea that’s traditionally more in line with the banking industry’s harshest critics, not its founding fathers. It’s an ironic twist coming from an empire-builder who nursed Citigroup into a behemoth.

Weill said the radical change is necessary if U.S. banks want to rebuild trust and remain on top of the world’s financial system. Weill also criticized banks for taking on too much debt and not providing enough disclosure about what’s on their balance sheets.

Chick-fil-A blocked

CHICAGO

A Chicago alderman says he won’t allow Chick-fil-A to open a restaurant in his ward until it comes up with a written anti-discrimination policy.

Before Wednesday’s city council meeting, Alderman Joe Moreno said he’s tried to work with the company for months but Chick-fil-A won’t put its anti-discrimination policy into writing.

The issue came to a head last week after Chick-fil-A President Dan Cathy said he doesn’t support same-sex marriage. Chick-fil-A says it has a history of applying biblically based principles to its business, such as closing stores on Sundays.

Vindicator staff/wire reports