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Business News

CEO, CFO at Lordstown Motors resign; interim leaders appointed

LORDSTOWN — Two top executives at Lordstown Motors Corp. are out with hefty severance packages less than one week after the beleaguered electric-truck startup told federal regulators substantial doubt surrounds its ability to stay in business over the next year. No reasons were given for ...

Report finds inaccurate claims against Endurance

LORDSTOWN — A special committee formed to investigate claims made against Lordstown Motors Corp. in a scathing short-sellers report found the claims mostly false and misleading, but substantiated issues regarding some inaccurate statements about preorders for the company’s electric ...

Southern Park Mall owner predicts ‘business as usual’

Washington Prime Group is promising to continue “business as usual” at its Southern Park Mall after the retail property owner filed for Chapter 11 bankruptcy late Sunday. The company and 88 of its affiliated debtors voluntarily filed a petition for bankruptcy in the U.S. Bankruptcy ...

Labor shortage hits local manufacturers

“All of these are supposed to be running. We don’t have the people to do it,” said Ron Krisher, motioning with his hand to the production machines that sit idle at Therm-O-Link, the company he co-owns in Garrettsville. About 30 people work there making insulated copper wire for various ...

Senators push for Delphi pension review

A bipartisan group of U.S. senators want answers from the Biden Administration concerning the review of the terminated Delphi salaried retiree pensions directed by former President Donald Trump in October. The eight lawmakers that include Republican Rob Portman and Democrat Sherrod Brown from ...

Anderson-DuBose named McDonald’s U.S. Supplier of Year

LORDSTOWN — A food service distribution company here that supplies products to more than 450 McDonald’s restaurants to four states in the eastern United States was named by the fast food giant its 2021 U.S. Supplier of the Year. Anderson-Dubose Company “went so far above and beyond its ...