FirstEnergy workers in Pa. reject proposal

FirstEnergy workers in Pa. reject proposal

ALTOONA, Pa.

Workers at FirstEnergy Corp.’s Penelec facility rejected a proposed contract Sunday, triggering a lockout of 142 employees Monday morning.

Union employees have been without a contract since the end of August and have been in talks with the company since May.

Both the union and the company said they are willing to continue negotiations in an attempt to resolve the dispute quickly.

In the meantime, managers and supervisors will take over vacated duties, as an ice storm threatens the region over the next few days.

Senators: Close import loopholes

WASHINGTON

In a letter, U.S. Sens. Sherrod Brown and Rob Portman, both of Ohio, pressed the Department of Commerce on Monday to protect Ohio-based steel companies by closing loopholes they said allow countries to avoid paying anti-dumping and countervailing duties on Chinese steel-pipe imports.

The DOC will rule soon on a petition regarding product coverage for duties ordered on Oil Country Tubular Goods from China.

Portman said “watered-down” trade protections put American businesses and workers at risk by allowing cheap Chinese goods to flood domestic markets.

Ten other senators joined in signing the letter.

Contracts to buy homes fall again

WASHINGTON

The number of Americans who signed contracts to buy homes fell in October for the fifth-straight month. Higher mortgage rates, price increases and the 16-day partial government shutdown held back sales.

The National Association of Realtors said Monday that its seasonally adjusted pending home-sales index dipped 0.6 percent to 102.1. That’s the lowest level since December. September’s reading was revised slightly higher to 102.7.

There is generally a one- to two-month lag between a signed contract and a completed sale. The drop suggests final sales will remain weak in the coming months.

The Realtors group said the shutdown prevented the IRS from verifying incomes, a critical part of the mortgage-approval process.

The group said that 17 percent of Realtors reported delays.

Sales may rebound a bit in November as purchases delayed by the shutdown are completed. But sales are not expected to pick up much after that.

A limited supply of homes has pushed up prices in the past year. Prices of existing homes jumped 12 percent in September from the previous year, according to real-estate data provider CoreLogic.

Vindicator staff/wire reports