News Home
Quick Bites
News Archive
News Channel
Special Features
On AirNewsClassical
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Levin Furniture

Akron General


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )

Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business

Another shareholder adviser sides with splitting Timken
Union and management are fighting the push by two big shareholders

Web Editor
M.L. Schultze
Timken shareholders will decide next week whether to push a split of the company.
Courtesy of M.L. SCHULTZE
Download (WKSU Only)
In The Region:

A second major adviser to shareholders is backing a move to the split of one of Northeast Ohio’s oldest companies in two. WKSU’s M.L. Schultze has this update on the moves surrounding the Timken Company.

SCHULTZE: Timken's split decision nears

Other options:
Windows Media / MP3 Download (1:13)

Like a group called ISS, Glass Lewis & Company advises shareholders on big decisions they’re being asked to vote on at company meetings. And like ISS, Glass Lewis has come down in support of a push by two major shareholders to split Timken’s bearings and steel operations into separate companies.

Timken started making specialty steel in large part to supply its bearings operations. But it’s since branched into oil and gas, off-road equipment and other businesses. Stanley Elliot is an analyst with the Stifel financial advisory firm who has covered  Timken for about a year. He says the California teachers’ pension fund and a group called Relational Investors believe the stock market undervalues Timken as a single entity.

“The investors’ position is that these two businesses are no longer synergistic, and when you look at how the stock market valued Timken, it is a considerable discount compared to other industrial peers.”

Shareholders will  vote on whether to push the split at Timken’s May 7 meeting. Both Timken management and its union, the United Steelworkers, oppose the split, saying the company has performed well for more than a century .

Add Your Comment


E-mail: (not published, only used to contact you about your comment)


Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook

Stories with Recent Comments

Bhutanese resettlement has had a big economic impact
Informative especially for nonmembers of North Hill. I appreciate the fact that you mention that the younger generation has an easier time than the elders but t...

Ottawa County Commissioner sworn in as new house member
Congratulations on your new appointment to the Ohio House. I'm certain you will do an outstanding job in your new role representing our district. When you have...

Holden Arboretum opens a new canopy walk and emergent tower
Visited the Holden Arboretum today to witness the incredible work you did constructing the tower and bridges.WOW! Very impressed. Knew the build had to be great...

Local club works to bring back the once-prevalent American elm
I would love to help! Where would I get some of the new Strain so I could plant them?

Four Geauga school districts consider consolidating on the Kent State campus
Berkshire was smart to merge with Ledgemont because it had shrinking enrollment and excess capacity at its high school. Now that Cardinal is dragging its feet ...

Ohio Rep. John Boccieri sworn into office and hopes to look for 'middle ground' with colleagues
Welcome back to the Statehouse, John. You are a terrific representative in the truest sense always representing the people's voice in teh district you serve. ...

Lawmakers call for indefinite freeze on Green Energy standards
It's a shame the Hudson Rep. Chooses to mimic the words of the extreme right senator on his way out to join ALEC when we know the Pope was just here because of...

Youngstown Schools file suit against the Ohio Department of Education to stop the implementation of an academic distress commission
Voters should ask WHY this plan was rushed into law under the cover of darkness. What clues point to the beneficiaries of this plan? Both Patrick O'Donnell of...

More join the battle against Ohio's current forfeiture laws
NOT TRUE IN OHIO! ! My cousin's 8 rental houses were siezed in the early 2000s. He was a decorated Cleveland Police officer and detective (now retired). His dis...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University