ASHLAND TIMES-GAZETTE BUSINESS TUESDAY FEBRUARY 1, 2011 B5

BRIEFLY
From staff and wire reports
Local
New financial watchdog: MARKET ROUNDUP
JANUARY 31, 2011
Controlling Board
OKs Reineke loan
Pricing needs to be clearer +68.00
Dow Jones Industrials
12,000

11,500
COLUMBUS — The state By CANDICE CHOI table for when consumers can cating a team to ensure these +0.6%
11,000
Controlling Board signed Associated Press expect to see such changes? options are safe?
10,500
off Monday on more than A: Well, it’s interesting. I A: We’ve organized the new 11,892.00
WASHINGTON — No Close
$1 million in financing for a tricks. Less fine print. Clearer think people are starting to consumer agency to be market SEP OCT NOV DEC JAN FEB
10,000

company that recently has
expanded in Ashland.
The low-interest loan will
be used by Reineke Advanced
Technology to help finance
its existing facility at 1025
Faultless Drive, which it
leases to Americarb Inc.
Americarb last year
added 44 full-time jobs pay-
ing average hourly wages of
$15. The company produces
carbon and graphite prod-
ucts for production furnaces
and insulation. The 141,928-
agreements. see somewhat clearer disclo- facing. That means that we
That’s how banks should sures. For example, there are have divisions dealing with
a couple of major credit card (1) revolving debt and credit Standard & Poor’s 500
market products 1300
to consumers, issuers who — following our cards, (2) mortgages and +10.00
said Elizabeth early conversations last fall installment loans, like student +0.8% 1200
Warren, the Har- — went back and voluntarily loans (3) with payments and 1100
vard law profes- rewrote their own credit agree- deposits and (4) credit report- 1,286.00
sor in charge of ments and began to shrink ing and (5) debt collection. Close 1000
SEP OCT NOV DEC JAN FEB
setting up a new them down. There have been We want to be a very data
federal agency others who’ve advertised their driven agency around those
that will police credit products along the lines five markets. Technology and Nasdaq Composite
credit cards, Warren of “No Tricks,” “Less Fine innovation is hitting all of them. 2,800
Print,” “Clearer Agreements.” And so a big part of what we’re +13.00
mortgages and other financial +0.5% 2,600
services. This agency, even before doing is hiring people who are
The Consumer Financial it has its full legal author- technology savvy and actually 2,400

square-foot facility is cur- 2,700.00

Protection Bureau was created ity, has driven a conversation deeply interested in it. Close 2,200
rently owned by Ashland as part of the sweeping overhaul and driven a direction for the Q: Another area the CFPB SEP OCT NOV DEC JAN FEB
Investment Properties. The of financial regulations last year industry. And it’s toward a bet- will be reviewing is services
total project will cost about known as the Dodd-Frank Act. ter informed customer who for people who don’t have a STOCKS OF LOCAL INTEREST
$1.5 million, with the com- Proponents said such an agency can make apples-to-apples bank account. How do you Name Sym. Last Chg. Name Sym. Last Chg.
pany covering the balance. could have sounded an early comparisons among products. regulate services like payday AFLAC Inc.
AMR Corp.
AFL
AMR
57.58
7.05
0.59
-0.15
Las Vegas Sands LVS
MGM
46.49
14.83
0.89
0.34
MGM Resorts Int.
The Ohio Development warning for the abusive lending Q: In terms of the required loans and still ensure people AT&T Inc. T 27.52 0.03 Marathon Oil Corp. MRO 45.7 0.94
Financing Advisory Council practices that precipitated the disclosures — do you see new have access to small loans? Abbott Labs
Adv Micro Dev
ABT
AMD
45.16
7.83
-0.33
0.34
McDonald’s
MeadWestvaco Corp.
MCD
MWV
73.67
28.63
0.39
0.13
signed off on the plans at its economic meltdown. forms replacing the Schumer A: Well you know, access to Alcatel-Lucent ALU 3.31 0 Microsoft Corp. MSFT 27.73 -0.03
Alcoa Inc. AA 16.57 0.44 Motorola, Inc. MSI 38.77 0.81
Dec. 6 meeting. It’s not clear when a per- box, which is already intended small dollar loans is critical to Altria Group, Inc. MO 23.51 -0.28 NCR Corp. NCR 16.4 0.05

manent head will be named to to clearly lay out the APR, fees families. The notion that we American Electric
Ashland Inc.
AEP
ASH
35.68
58.06
-0.18
0.11
Newell Rubbermaid
NiSource Inc.
NWL
NI
19.25
18.62
-0.09
0.01
lead the new agency. Warren, a and other terms for a credit somehow try to eliminate that, BP PLC BP 47.47 1.26 Nokia Corp. NOK 10.7 0.13
State vocal consumer advocate who card? it’s just not going to happen. Bank of America
Bob Evans Farms
BAC
BOBE
13.73
31.48
0.13
0.06
Norfolk Southern
Occidental Petl.
NSC
OXY
61.19
96.68
0.81
2.87
A: We’re having conversa- It can force people into unreg- Boeing Co. BA 69.48 0.25 PNC Financial PNC 60 -0.11
P&G closes 2 plants first championed the creation CBS Corp. CBS 19.83 0.55 PPG Industries PPG 84.28 1.05
tions with credit card issuers ulated markets, including “Jimmy
of the agency, is a possibility Chevron Corp. CVX 94.93 1.56 J.C. Penney Co. JCP 32.07 -0.22
and office in Egypt but is regarded as a contentious
right now and talking through the Leg Breaker,” which is not Cisco Systems
Citigroup
CSCO
C
21.15
4.82
0.22
0.1
Pentair, Inc.
PepsiCo
PNR
PEP
36.17
64.31
0.4
-0.09
CINCINNATI — Con- what the Schumer box does where we want people to be. Coca-Cola KO 62.85 0.64 Pfizer Inc. PFE 18.22 0.07
choice. President Obama did not and how it might be improved. So it is important from a ConAgra Foods CAG 22.33 -0.11 Philip Morris Int. PM 57.24 0.64
sumer products maker Proct- need Senate confirmation when ConocoPhillips COP 71.46 0.9 PowerShs QQQ Trust QQQQ 56 0.27

er & Gamble Co. has closed You know, even the Schumer regulatory standpoint that DPL Inc. DPL 26.18 -0.16 Praxair, Inc. PX 93.04 2.17
he named her in September as box has gone from smaller and people are not at the mercy Direxion FinBear 3X FAZ 8.57 -0.22 Presstek PRST 2.09 0.11
its two plants and a general a special adviser to help oversee Direxion FinBull 3X FAS 29.95 0.73 ProShs UltraSht S&P SDS 22.66 -0.35

office in Egypt because of skinnier to longer and more of lenders who build business Dow Chemical DOW 35.48 0.42 ProSh Ultra Sht QQQ QID 10.93 -0.12
the creation of the agency. complicated. So I will readily models around fooling people.
DryShips Inc.
Du Pont
DRYS
DD
4.82
50.68
-0.03
0.39
ProShs Ultra S&P500
ProSh UltSh Real Est.
SSO
SRS
50.13
16.76
0.7
-0.44
the political turmoil there. The CFPB won’t be able to E TRADE Financial ETFC 16.56 0.21 UYG 69.3 1.2
Company spokeswoman admit it’s an uphill walk to try They’re drawn in the front Eastman Kodak EK 3.66 0.02
ProSh Ultra Fincl.
RPM Intl. RPM 23.43 0.16
exercise its rule-making pow- to get there. But I think we’re door thinking they’re going EnPro Inds. NPO 41.51 -0.32 Regions Financial RF 7.1 0.22
Robyn Schroeder said in ers until July 21. In the mean- Exxon Mobil XOM 80.68 1.69 SPDR S&P Retail XRT 46.45 0.18
Cincinnati that the compa- developing a path in working to pay one price and then beat Fed. Nat. Mortgage FNMA 0.56 0.05 Sara Lee Corp. SLE 16.97 -0.2
time, Warren has been making with the companies. about the head and ears, finan- FirstEnergy Corp. FE 39.12 0.35 Sears Holdings Corp. SHLD 75.37 -0.71
ny closed general offices in key appointments and meeting FirstMerit Corp. FMER 18.32 -0.15 Sprint Nextel Corp. S 4.52 0.07
Cairo last Wednesday, tell- In terms of a timetable, I cially speaking, so that they’re Ford Motor Co. F 15.95 -0.32 J.M. Smucker SJM 62.16 0.32
with banking executives and just have to remind you. We paying much, much more. GenCorp Inc. GY 5.13 0.05 SPDR Financial SPY 128.68 0.96
ing employees to work from consumer groups to get the
General Dynamics GD 75.4 1.27 Standex SXI 33.35 0.2

home, then closed the plants won’t have legal authority to do On the other hand, there’s General Electric GE 20.14 -0.06 Taiwan Semicon TSM 13.07 -0.04
agency up and running. anything by way of rule-making a real problem. And that is
General Mills GIS 34.78 -0.16 Texas Instruments TXN 33.91 -0.36
just outside Cairo on Friday. In an interview with The
Goodrich Corp. GR 90.62 0.7 3M Company MMM 87.92 0.48

The global maker of such authority until after July 21. how to get good, small dollar Goodyear
Gorman-Rupp
GT
GRC
11.88
31.78
0.22
0.56
Timken Co.
Vale SA
TKR
VALE
47.02
34.83
-1.26
0.63
Associated Press, Warren said But we’ve started now with lending started in areas where Honeywell Int. HON 56.01 0.69 Verizon Comm. VZ 35.62 -0.01
products as Gillette shavers one of the first goals will be to Hospira HSP 55.23 0.63 Viacom Inc. VNV 25.57 0.07
and Pampers diapers has the industry and with con- there’s great need. Humana HUM 57.97 -0.21 Vodafone Group VOD 28.36 0.12
make the true cost of financial sumer groups and with other Sometimes that’s going Huntington Bancshs. HBAN 7.24 0.17 Wal-Mart Stores WMT 56.07 -0.63
nearly 1,500 employees in products easier to understand. iShs Emerg Mkts. EEM 45.81 0.48 Wayne Savings Bcsh. WAYN 9.47 -0.03
the country. Schroeder said stakeholders, investors — talk- to be by community banks. iShares Rus 2000 IWM 77.95 0.54 Wells Fargo & Co. WFC 32.42 0.58
She said that should drive ing with them, showing them Sometimes it’s going to be by Intel Corp. INTC 21.46 0 Wendy’s Arby’s Group WEN 4.83 0.1
all employees were reported down prices for consumers.
JPMorgan Chase JPM 44.94 0.4 Weyerhaeuser Co. WY 23.18 0.51

to be safe and there had been what we have in mind, asking non-bank lenders and some- Kraft Foods Inc. KFT 30.57 0.04 Worthington Inds. WOR 19 0.02
Here is an excerpt: for their input, asking for their times it’s going to be innova- Kimberly-Clark KMB 64.73 0 Xerox Corp. XRX 10.62 0.07
no property damage report- Q: You’ve said improving
ed to P&G facilities. data, asking for information. tions and new technology MUTUAL FUNDS
the disclosure of credit card Q: More banks began to that’s going to open up mar-
The plants make diapers, terms is going to be a top pri-
Name Symbol Last Chg.

soap and detergents, among cut back on free checking last kets for the currently under- American Funds American Balanced A
American Funds Bond Fund of Amer A
ABALX
ABNDX
18.2
12.2
-0.21
0.01
ority. How is the CFPB going year in response to new regu- served population. American Funds Capital Inc Bldr A CAIBX 49.9 -0.5
other products. Schroder to change what’s provided to
said Monday the company is lations. Do you think further I anticipate a lot of change American Funds Capital World G/I A
American Funds EuroPacific Gr A
CWGIX
AEPGX
36.02
41.44
-0.63
-0.72
consumers? regulation by the CFPB will in this area. American Funds Fundamental Investors A ANCFX 37.23 -0.56
making contingency plans in A: Think about how long American Funds Growth Fund of Amer A AGTHX 30.7 -0.53
case operations and supplies drive up the price of banking? Q: Is the idea to bring the American Funds Inc Fund of Amer A AMECX 16.75 -0.17
a credit card agreement has A: If the consumer knows unbanked population into the American Funds Invmt Co of Amer A AIVSX 28.58 -0.47
are disrupted for an extend- become — it’s become pages
American Funds New Perspective A ANWPX 28.64 -0.53

ed time. the price of a good, the risk traditional banking world? Or American Funds Washington Mutual A AWSHX 27.52 -0.42
Davis NY Venture A NYVTX 34.57 -0.54
and pages and pages of largely associated with it, and can make is there a valid place for ser- Dodge & Cox Balanced DODBX 71.59 -1.06
incomprehensible fine print. In apples-to-apples comparisons, vices like check cashing? Dodge & Cox Income DODIX 13.29 0.01
Nation effect, it’s paperwork that says that’s what makes markets work A: I think the traditional
Dodge & Cox International Stock
Dodge & Cox Stock
DODFX
DODGX
35.89
111.07
0.11
0.66
“Don’t read me,” and that’s a for consumers. They can figure banking world concept is Fidelity Balanced FBALX 18.54 0.08
Bryan Foods plant real problem. Because hiding in out who’s offering the most going to change over the
Fidelity Contrafund
Fidelity Diversified International
FCNTX
FDIVX
68.13
30.47
0.39
0.18
getting rehabbed that fine print can be anything. expensive product and who’s next 10 years. I think technol-
Fidelity Equity-Income
Fidelity Freedom 2020
FEQIX
FFFDX
45.57
13.99
0.32
0.07

WEST POINT, Miss. So one of the things we offering the cheapest product. ogy changes it and I think the Fidelity Growth Company
Fidelity Low-Priced Stock
FDGRX
FLPSX
84.8
38.89
0.61
0.15
— An Ohio-based salvage want to push toward is try- And I’m of the belief that over needs of an unmet population Fidelity Magellan FMAGX 72.83 0.37
Fidelity Puritan FPURX 18.21 0.1
company is tearing down ing to clear out that kind of time, that’s going to make finan- (change it). Fidelity Spartan 500 Index Inv FUSEX 45.54 0.35

much of an old meat process- shrubbery. So that if there are cial products cheaper for con- I’m going to take a little bit Franklin Income A
Harbor International Instl
FKINX
HAINX
2.22
61.39
-0.01
0.43
ing plant in West Point with real changes that a company sumers, not more expensive. of a side step from the ques- PIMCO Total Return A PTTAX 10.86 0
PIMCO Total Return Admin PTRAX 10.86 0
plans to refurbish the rest as is proposing, they stand out. Q: Online banking is top-of- tion. The basic paradigm in PIMCO Total Return Instl PTTRX 10.86 0

a small industrial park. They’re not camouflaged by all mind right now. With so many which we’ve thought about T. Rowe Price Growth Stock
Vanguard 500 Index Admiral
PRGFX
VFIAX
32.38
117.67
-0.74
-2.13
Fred Kohart, demolition those other words. new mobile and online bank- this is actually starting to Vanguard 500 Index Investor VFINX 117.65 -2.14
Vanguard GNMA Adm VFIJX 10.74 0.01
manager for Kohart Sur- Q: And what’s the time- ing options, is the CFPB dedi- break apart. Vanguard GNMA Inv VFIIX 10.74 0.01
Vanguard Institutional Index Instl Pl VIIIX 116.84 -2.12
plus and Salvage of Pauld- Vanguard Institutional Index Instl VINIX 116.84 -2.12
ing hopes to rehabilitate the
70-acre Bryan Foods site to
attract another industry or at
Energy stocks lead indexes Vanguard Interm-Term Tx-Ex Adm
Vanguard PRIMECAP Inv
Vanguard Short-Term Investment-Grade Adm
Vanguard Total Bond Market Index Adm
Vanguard Total Bond Market Index Inv
VWIUX
VPMCX
VFSUX
VBTLX
VBMFX
13.14
67.17
10.8
10.6
10.6
0
-1.32
0.01
0.02
0.02
least a few other tenants. By CHIP CUTTER and DAVID K. RANDALL
Vanguard Total Intl Stock Index Inv VGTSX 15.79 -0.29
of Standard & Poor’s. “The big worry is the Vanguard Total Stock Market Idx Instl VITSX 32.02 -0.6
The old plant covered Associated Press Vanguard Total Stock Mkt Idx Adm VTSAX 32.02 -0.6
unknown — the cascading effects that could Vanguard Total Stock Mkt Idx Inv VTSMX 32.01 -0.6
about 550,000 square feet,
scattered across several NEW YORK — Energy stocks led indexes occur.” Vanguard Wellington Adm
Vanguard Wellington Inv
VWENX
VWELX
54.56
31.59
-0.66
-0.38

buildings. higher Monday, the first day of trading since The Dow Jones industrial average gained Vanguard Windsor II Investor VWNFX 26.28 -0.43

Taco Bell takes beef
with lawsuit public
Taco Bell says a legal beef
over the meat in its tacos is
bull.
The fast-food chain took
out full-page ads in at least
nine major newspapers and
launched a YouTube cam-
paign featuring its president
Friday to proclaim its taco
filling is 88 percent beef.
A false-advertising law-
suit filed last week that
caused an online stir alleges
the company’s filling doesn’t
have enough beef to be called
that. The lawsuit seeks to
make the company stop call-
ing it “beef,” and pay the
suing law firm’s bill.
Taco Bell trumpeted
“Thank you for suing us.
Here’s the truth about our
seasoned beef,” in the ads in
Friday’s editions of the Wall
Street Journal, USA Today
and other papers. The ads go
on to say the rest of the fill-
ing is a mixture of spices and
common food additives.
The lawsuit, filed in feder-
al court in California, alleges
the meat mixture has binders
and extenders and does not
meet federal requirements to
be labeled beef.
the growing unrest in Egypt caused the largest 68 points, or 0.6 percent, to close at 11,891.93. Note: Visit www.times-gazette.com for more detailed stock information.
one-day drop in the broad stock market in more The broader Standard and Poor’s 500 index
than three months. rose 10, or 0.8 percent, to 1,286.12. The Nas-
Exxon Mobil Corp. gained 2.1 percent after daq composite index gained 13, or 0.5 percent, MARKET REPORTS
it reported its most profitable quarter since to 2,700.08. Precious metals Eggs ........................0.90-1.15/doz.
2008. Massey Energy Co. jumped 9.8 percent Nine of the 10 company groups that make up Gold, oz. ............................1,333.80 Apple dumplings ....................2.00
after Alpha Natural Resources Inc. said that it the S&P index rose. Energy companies gained Silver, oz. ...............................28.17 Bread ...............................1.40-2.40
would buy the coal producer in a $7.1 billion 2.6 percent, the most of any group. Platinum, oz. ....................1,797.50 Cantalopes ........................0.60 ea.
Palladium, oz. .....................819.00
deal. Alpha Natural Resources fell 7.2 percent. Bond prices fell slightly, sending their yields Cakes .......................................2.50
Candy ......................................1.50
The Massey deal suggests “maybe coal higher. The yield on the benchmark 10-year Cash corn
Treasury note rose to 3.38 percent from 3.33 Grapefruit ........................1.00-1.50
isn’t dead,” said Kim Caughey Forrest, equity Feb. corn ..................................6.19 Honey dew melons .................0.50
research analyst at Fort Pitt Capital Group. It percent late Friday. Bond prices rose Friday March 2011 corn .....................6.22 Lettuce.............................0.50-1.00
also raises hopes for similar deals in the future, because investors sought less risky assets. April 2011 corn ........................6.26
Lemons.....................................1.00
she said. Stronger economic data in the U.S. also Oct./Nov. 2011 corn................5.16
Noodles ...................................2.00
Concerns remained over Egypt’s impact on helped push stocks higher. The Commerce Pies ..................................3.50-7.00
oil prices. The country is not a major produc- Department reported that consumers increased Cash beans Pineapples .......................1.25-1.85
Jan./Feb. beans ....................13.33
er of oil, but it plays a key role in the industry their spending in December by more than ana- March 2011 beans.................13.38
Potatoes/50#..............11.00-14.00
because it controls the Suez Canal, a major lysts had predicted. Spending for all of 2010 S/O/N 2011 ............................12.41
Rolls .................................1.25-2.50
route for oil tankers and cargo ships. Crude oil rose by the largest amount in three years. Jan. 2012 beans.....................12.58
prices rose 3 percent to $92.19 a barrel. Two stocks rose for every one that fell on the Wooster Hay Auction
Cash wheat Saturday, Jan. 29, 2011
“The market wants to work its way higher,” New York Stock Exchange. Volume came to 1.2 DP wheat .................................7.46 Hay 1st cutting.........40.00-80.00/ton
said Sam Stovall, chief investment strategist billion shares. March 2011 ..............................7.51
2011 wheat ..............................7.90 Hay 1st cutting big sq. bales........
.........................................47.50/ton
Exxon profit up 53 percent in 4th quarter Oats
Cash oats ................................2.50
Hay 1st cutting rd. bales...............
................................14.00-19.00/ea.
Associated Press Global consumption of net income was $1.85 per share. Hay 1st cutting rd. bales...............
petroleum products increased In the year-ago quarter, the Ashland County .........................................40.00/ton
NEW YORK — Exxon
Hay, Straw, Grain Auction Hay 2nd cut........70.00-135.00/ton
Mobil earned $9.25 billion in during the quarter and oil company earned $6.05 billion,
Friday, Jan. 28 Hay 2nd cutting rd. bales..............
the last three months of 2010, prices rose 12 percent to an or $1.27 per share. Exxon set a
Hay 1st cutting...37.50-125.00 ton ..........................................27.50/ea.
its most profitable quarter average of $85.14 per barrel. record for quarterly net income Hay 2nd cutting..80.00-140.00 ton
Higher prices made produc- by a publicly traded company of
Hay 3rd cutting.105.00-130.00/ton
since the record third quarter Hay 3rd cutting...90.00-145.00 ton Hay 3rd cut rd. bales......19.00/ea.
of 2008. tion operations more profit- $14.83 billion in the July-Sep- Hay lg. rd. bales....14.00-38.00 ea. Straw...................77.00-125.00/ton
The largest publicly traded able. Increased demand boost- tember period in 2008. Hay per bale ..............2.10-3.00 ea.
Straw by bales..................2.60/ea.
oil company said Monday that ed margins at refineries. Revenue increased 17 Hay lg. rd. bale................62.50 ton
Balage ..............................14.00 ea. Straw big sq. bales........85.00/ton
net income grew 53 percent Exxon joined Chevron and percent to $105 billion. The Firewood per load.....37.50-195.00
Straw per bale...........1.70-2.00 ea.
in the fourth quarter as it pro- ConocoPhillips in reporting results beat Wall Street expec- Straw......................90.00-95.00 ton Eggs.................................1.80/doz.
duced more oil to take advan- vastly improved results. tations of $1.62 per share Corn stalks lg. sq. bales.14.00 ea. Machinery Auction
tage of higher prices. On a per-share basis, Exxon’s on revenue of $99.1 billion. Firewood per load .....27.50-180.00 Saturday, Feb. 26