Business | The Times Leader, Wilkes-Barre, PA

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Richards, creditors to have hearing

WILKES-BARRE – Late payments in the bankruptcy of a former county official charged in the public corruption probe prompted an attorney in the case to seek its dismissal and remove the protection from creditors guaranteed under the proceedings.

Farmer fears fueled

PHILOMATH, Ore. — Organic farmers fear this year’s spring breezes will be carrying pollen from genetically altered sugar beets, which they say could render their crops worthless, and they hope to persuade a federal judge this week to halt the plantings nationwide.

Complaint: TRL’s value disguised

WILKES-BARRE – Real estate sold in the deal for Transcontinental Refrigerated Lines in 2007 was inflated in a scheme by the former owners of the property to defraud company creditors, according to a complaint filed in connection with the hauler’s bankruptcy.

Major indexes do best in more than a month

NEW YORK — Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.

FNCB chief steps down

First National Community Bank announced Monday that J. David Lombardi unexpectedly resigned as CEO and director for personal health reasons. He will be replaced on an interim basis by Jerry A. Champi, who most recently served as senior executive vice president and retail/commercial division manager.

Associated Press

GM to triple funding for Opel restructuring - 03/02/2010

General Motors Co. said Tuesday it would more than triple its funding for the turnaround of European units Opel and Vauxhall to euro1.9 billion ($2.6 billion). General Motors had initially pledged euro600 million and hoped to get some euro2.7 billion in European government funding for the restructuring of its important European units,

Irish bank AIB suffers $3.25B loss in 2009 - 03/02/2010

Ireland's largest financial institution, Allied Irish Banks PLC, reported its first-ever full-year loss Tuesday as bad debts soared amid the recession. AIB said it suffered a net loss of euro2.4 billion ($3.25 billion) in 2009, compared to a euro772 million profit the previous year. The banking group's income fell 4.1 perce

Senate talks close in on deal for Wall Street regs - 03/02/2010

More than a year after Lehman Brothers' collapse set off a financial panic, Senate negotiators appear close to resolving a narrow dispute that was holding up broad legislation to set new rules for Wall Street. At issue was whether a government consumer watchdog should be free from bank regulators to write rules that govern everything

Obama looks to undecided Dems for health backing - 03/02/2010

A small number of House Democrats who opposed health overhaul legislation on the first go-round may be President Barack Obama's most important constituency when he unveils a revised proposal on Wednesday. At least nine of the 39 Democrats who voted "nay" when the House passed sweeping overhaul legislation 220-215 in November