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A SERVICE OF OHIO'S PUBLIC BROADCASTING STATIONS
A SERVICE OF OHIO'S PUBLIC BROADCASTING STATIONS
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National City Corp: An investors' group led by Corsair Capital this week agreed to pump $7-billion in cash into the troubled Cleveland bank. The agreement staved off the potential merger of National City with other banks. Merger could have brought about the loss of a major downtown Cleveland company, large-scale layoffs, or both. National City is expected to lose up to $2-billion this year, a result of the mortgage meltdown and tightening credit markets.
Pennsylvania Primary: This week's Pennsylvania primary moved the Democrats closer to this summer's national convention, but that's about it. It did little to resolve who the nominee might be. Senator Hillary Clinton won the popular vote and the majority of the Keystone State delegates. But Senator Barack Obama held onto the overall delegate lead and retains a large edge in fund-raising. Next up: Indiana and North Carolina on May 6.
Keen on Keno: The Strickland administration is quietly maneuvering to clear the way for a new form of gambling to be targeted at Ohio taverns. Keno, a form of lottery with drawings several times a day, would raise a projected $73 million to help plug a hole in the state budget. This week, the Joint Committee on Agency Rule Review okayed the keno plan. Legislation aimed at stopping the new game has apparently stalled in Columbus.
Short Shrift for Equal Pay: The U.S. Senate failed to pass a measure that would have bypassed a recent Supreme Court ruling upholding a tight time limit on equal pay complaints. The high court confirmed a law that says employees have 180 days from the issuance of the first paycheck to file legal complaints about wage discrimination. The new law, that would have scrapped the time limit, was named after Lilly Ledbetter, a former Alabama Goodyear worker who sued the tire maker ten years ago and won only to have case overturned on appeal.
April 25, 2008