| Earnings roundup: Parker Hannifin
CLEVELAND (AP) _ Parker Hannifin Corp., which makes motion-control systems, said Thursday its second-quarter profit rose 9.8 percent on higher industrial sales in North America and internationally. MEMPHIS, Tenn. (AP) _ Regional bank First Horizon National Corp. swung to a loss during the fourth quarter due to rising loan-loss reserves, a reduction in the value of mortgage servicing rights and charges stemming from an earnings enhancement plan. DALLAS (AP) _ Business and consumer banking services provider Comerica Inc. said Thursday its fourth-quarter profit fell 60 percent year-over-year as bad debt more than quadrupled on the continued downturn in Michigan and California real estate development markets. NEW YORK (AP) _ BlackRock Inc.'s fourth-quarter earnings surged as investors shifted money to safer harbors and increasingly sought financial advice amid the ongoing credit crisis, the investment management firm said Thursday.
Good news: Michigan's voices heard
California mortgage lender IndyMac cuts 2,403 jobs; computer chip-maker Applied Materials zaps 1,000; Bank of America slashes 650 jobs; Citigroup sheds 4,200, Nokia will close a German factory and eliminate 2,300 jobs. This nation needs to get over its hypersensitivity about who's insulting whom with an ill-chosen phrase, who's doing what in their bedrooms and who believes what about the hereafter. It's time to focus on the here and now of how to compete in a dynamic global economy, how to create companies and more good jobs and how best to educate our children to cope in a world that no longer kowtows to the notion that the United States gets to make all the rules. I'm not smart enough to know whether Michigan's primary win will propel Romney to the presidency of the United States.
'Wine industry is fastest growing in India'
The wine industry in India is projected to grow at more than 25 per cent annually in the next decade, making it the fastest growing industry in the country, says leading wine industrialist Rajeev Samant of Sula Wines. Enthused by the "tremendous success" of the just-concluded international conference and exposition on grapes and wines in this wine capital of India, the chief executive officer of Sula Wines, who chaired the gala event, said the remarkable participation of wine grape growers has boosted his confidence. "The 300 farmer delegates were enwrapped in the proceedings - taking copious notes of technical presentations by foreign experts, asking questions and talking among themselves about the lessons learnt - this is phenomenal," Samant told IANS in an interview here.
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