General Cable expects a loss
Highland Heights-based General Cable Corp. said Friday after the stock market closed that it expected a loss in the first quarter instead of a profit because of the "extraordinarily rapid'' increase in copper and aluminum prices. The maker of cable and wire for telecommunications, energy and construction uses said it expects a loss for the current quarter of 5 cents to 6 cents a share, excluding previously announced one-time charges, down from previous expectations of a profit of 1 cent to 3 cents a share. CEO Gregory B. Kenny said the company's copper costs have risen 65 percent in the last five months and 18 percent since January.
Provident details option sale period
Most employees of Provident Financial Group Inc., which is being acquired by National City Corp., will have up to 45 days to exercise stock options if they lose their jobs because of the merger, according to a Provident filing Friday with the Securities and Exchange Commission. The 45-day period begins at the end of the severance pay period. For instance, a worker with eight weeks of severance would have another 45 days to exercise options. Provident made the filing to inform its 3,400 workers how the merger would affect stock options. The filing did not state how many employees might be terminated. The merger is expected to be completed by July.
Some get package:
3M Precision Optics is offering only some of its employees voluntary severance packages. The headline Friday was incorrect.
Merrill's Nursery Landscape & Supply Co. is in Milford. A story Friday misidentified its location. A photo caption misidentified the landscape firm responsible for a home show display. It was Lichtenberg Landscaping, Mason.
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