Parker Hannifin Corp.sees a drop in orders
CLEVELAND -- Parker Hannifin Corp., which has manufacturing plants in Youngstown, said orders in its North American industrial business were 10 percent lower last month than they were in January 2001. Orders in its industrial segment in the other parts of the world fell 1 percent, while aerospace orders decreased 8 percent.
Cortland Bancorpreports record earnings
CORTLAND -- Cortland Bancorp said it achieved record earnings in 2001 for the eighth straight year. The company earned $5.5 million, or $1.41 a share, up from $5.1 million, or $1.30 a share, in 2000.
Concerns lead to fallof shares of Tyco
CONCORD, N.H. -- Shares of Tyco International Ltd. fell sharply again Tuesday on concerns about the company's credit troubles and questions about its accounting.
Some analysts said investors were overreacting but added that Tyco could boost confidence by being more open about its finances.
The company's shares fell $6.80, or 23 percent, Tuesday to close at $23.10. Tyco stock has lost 60 percent of its value since December.
From Vindicator staff and wire reports