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

Don Drumm Studios

The Holden Arboretum


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


Timken shareholders vote to split the company
Over the objections of management and the union, shareholders say the split should happen
by WKSU's M.L. SCHULTZE


Web Editor
M.L. Schultze
 
Timken's Harrison plant in southwest Canton
Courtesy of M.L. SCHULTZE
Download (WKSU Only)
In The Region:

The shareholders of one of northeast Ohio’s oldest companies have voted to split it into two. At this morning’s annual meeting, more than 53 percent of the shares of the Timken Co. went in favor of spinning off the steel operation from the bearings business.

The break up was pushed by California teachers’ pension fund and a group called Relational Investors. They argued that the stock value of the combined company is too low, and that the steel part of the business has outgrown the bearings’. Company management and the United Steelworkers opposed the split.

The vote is legally nonbinding, but Timken CEO James Griffith says the board will decide what it needs to do next within 45 days.

Add Your Comment
Name:

Location:

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


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio's tax commissioner says the ID quiz is going well
I filed electronically and there was no provision to print out a copy that I could find. How do I get a copy sent to my exclusive address of record, including ...

Ohio to appeal ruling keeping Akron's red light cameras in place
I don't understand what all the fuss is about. If you don't like tickets drive the speed limit and stop at red lights. It's really all up to you.

Who's on public assistance in Ohio?
legalize marijuana get over it,,, its here its been the main drug test scare of a lifetime. u got people that get drunk every night and work u got peoples on ...

Letters from a lost friend: A Beachwood survivor's Holocaust remembrance
What a great story -- and how important it was for both Marlene and her mother to tell it! Thank you.

Ohio lawmaker calls for an East Cleveland bailout
Instead of blaming Kasich and the Republicans for all of East Cleveland's fiscal woes, take a look at the facts. Some political entities in Ohio are too small ...

Legalized marijuana is a boon for a Cleveland-area grow light maker
Shouldn't he be in jail for paraphernalia? He knows he is selling for marijuana production.

Akron city council to vote on resolution for hiring ex-offenders
Great as a taxpayer I paid for the police to catch them, the free lawyer, the jail to house them , the food their kids eat the medical for them and all its goin...

5 of 8 rule headed for a vote
this is just another way for kasich to pass the buck and claim that it gives the local districts control. Few schools have enough money because of his cuts. T...

A passionate debate about parole in Ohio
I was heartened to hear that the legislators will consider ANY legislation to break the chains the parole board has put on these old law offenders who have serv...

Bill would allow Ohio religious leaders to refuse to do gay marriages
This is just a lot of political posturing. The free exercise clause of the 1st Amendment already protects clergy from being forced by civil authorities to perfo...

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