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					B6 WEDNESDAY MAY 19, 2010                                                                      BUSINESS                                                                                               ASHLAND TIMES-GAZETTE




               Economically speaking                                                                                                                             MARKET ROUNDUP
                                                                                                                                                  A DAY ON WALL STREET

Obama labels
GOP the ‘just
say no’ crowd
By ERICA WERNER
Associated Press
    YOUNGSTOWN — Lump-
ing Republicans together
as the “just say no” crowd,
President Barack Obama chal-
lenged his critics on Tuesday
to explain why they oppose
his steps to fix the economy.
Said Obama: “Tell us why
doing nothing would be better
for America.”
    In the latest campaign
stop for his economic agenda,
this one in struggling Ohio,
Obama took concerted swipes
at what he called the “unified,                                                                                                                   STOCKS OF LOCAL INTEREST
determined opposition of one                                                                                                                    Name                       Sym.    Last    Chg.        Name                     Sym.     Last    Chg.
                                                                                                                                                AFLAC Inc                  AFL     45.01   -0.96       Las Vegas Sands          LVS     22.23    -0.27
party.” He said it’s not too late                                                                                                               AMR Corp                   AMR      7.09   -0.22       MGM MIRAGE               MGM      12.98   -0.34
                                                                                                                  Associated Press photo
for bipartisanship, even as he                                                                                                                  AT&T Inc
                                                                                                                                                Abbott Labs
                                                                                                                                                                           T       25.59    -0.18      Marathon Oil
                                                                                                                                                                                                       McDonalds
                                                                                                                                                                                                                                MRO
                                                                                                                                                                                                                                MCD
                                                                                                                                                                                                                                        32.25
                                                                                                                                                                                                                                        70.02
                                                                                                                                                                                                                                                   0.64
                                                                                                                                                                                                                                                  -0.12
criticized those he said were       President Barack Obama salutes as he walks off Air Force One at Youngstown                                  Adv Micro Dev
                                                                                                                                                                           ABT
                                                                                                                                                                           AMD
                                                                                                                                                                                   48.05
                                                                                                                                                                                    8.42
                                                                                                                                                                                           -0.38
                                                                                                                                                                                           -0.43       MeadWestvaco             MWV       24.5   -0.56

bad-mouthing his efforts.           Air Reserve Station in Youngstown on Tuesday. Obama’s administration proposed                               Alcatel-Lucent
                                                                                                                                                Alcoa Inc
                                                                                                                                                                           ALU
                                                                                                                                                                           AA
                                                                                                                                                                                     2.5
                                                                                                                                                                                   11.82
                                                                                                                                                                                           -0.08
                                                                                                                                                                                           -0.28
                                                                                                                                                                                                       Microsoft Corp
                                                                                                                                                                                                       Motorola Inc
                                                                                                                                                                                                                                MSFT
                                                                                                                                                                                                                                MOT
                                                                                                                                                                                                                                          28.6
                                                                                                                                                                                                                                          6.78
                                                                                                                                                                                                                                                  -0.21
                                                                                                                                                                                                                                                 -0.07

    “If the just-say-no crowd       a trust fund of more than $800 million to pay for the cleanup of closed General                             Altria Group
                                                                                                                                                American Ele Pwr
                                                                                                                                                                           MO
                                                                                                                                                                           AEP
                                                                                                                                                                                   21.37
                                                                                                                                                                                    32.6
                                                                                                                                                                                           -0.33
                                                                                                                                                                                           -0.39
                                                                                                                                                                                                       NCR Corp
                                                                                                                                                                                                       Newell Rubbermaid
                                                                                                                                                                                                                                NCR
                                                                                                                                                                                                                                NWL
                                                                                                                                                                                                                                         12.67
                                                                                                                                                                                                                                          16.4
                                                                                                                                                                                                                                                  0.08
                                                                                                                                                                                                                                                 -0.39
had won out — if we had done        Motors sites in 14 states, including one in Lordstown near Youngstown.                                      Ashland Inc
                                                                                                                                                BP PLC
                                                                                                                                                                           ASH
                                                                                                                                                                           BP
                                                                                                                                                                                   55.04
                                                                                                                                                                                   45.38
                                                                                                                                                                                               -1.2
                                                                                                                                                                                             -1.19
                                                                                                                                                                                                       NiSource Inc
                                                                                                                                                                                                       Nokia Corp
                                                                                                                                                                                                                                NI
                                                                                                                                                                                                                                NOK
                                                                                                                                                                                                                                         15.65
                                                                                                                                                                                                                                         10.19
                                                                                                                                                                                                                                                    -0.2
                                                                                                                                                                                                                                                 -0.22
things the way they wanted                                                                                                                      Bank of America            BAC     15.95      -0.4     Norfolk Sthn             NSC      57.11    -1.02
                                                                                                                                                Bob Evans Farms            BOBE    29.03      -0.3     Occid Petl               OXY     80.93        0.4
to go — we’d be in a deeper         ticularly on the key measure of    few months in the term of the       STAR, a place he said is ben-        Boeing Co                  BA      67.72    -1.96      PNC Financial            PNC     63.68      -2.17
world of hurt,” Obama said,         jobs.                              late Democratic Rep. John           efiting directly from his eco-
                                                                                                                                                CBS Corp
                                                                                                                                                Chevron Corp
                                                                                                                                                                           CBS
                                                                                                                                                                           CVX
                                                                                                                                                                                   14.91
                                                                                                                                                                                   76.85
                                                                                                                                                                                           -0.34
                                                                                                                                                                                           -0.88
                                                                                                                                                                                                       PPG Inds
                                                                                                                                                                                                       Penney JC Co
                                                                                                                                                                                                                                PPG
                                                                                                                                                                                                                                JCP
                                                                                                                                                                                                                                        65.63
                                                                                                                                                                                                                                        26.65
                                                                                                                                                                                                                                                 -0.49
                                                                                                                                                                                                                                                 -0.97
in the swing state of Ohio.                                            Murtha.                             nomic policies.                      Cisco Syst                 CSCO    24.36    -0.51      Pentair, Inc             PNR      34.16   -0.37
                                       His comments came on a                                                                                   Citigroup                  C        3.73    -0.13      PepsiCo                  PEP     66.53    -0.22
Unemployment here is close to       day of closely watched primary                                             The parent company of the
                                                                           The president is on a drive                                          CocaCola                   KO       53.1    -0.31      Pfizer Inc.               PFE      15.81      -0.3
11 percent, above the already-      elections in Kentucky, Pennsyl-                                        V&M is spending $650 million
                                                                                                                                                Conagra Foods              CAG     24.48          0    Philip Morris Int.       PM      45.56    -0.69
                                                                       to show people that the coun-                                            ConocoPhillips             COP     54.67   -0.52       PowerShs QQQ Trust       QQQQ    46.43    -0.65
high nationwide average of          vania and Arkansas, which are                                          to build a 1 million-square-         DPL Inc                    DPL     26.29      -0.5     Praxair Inc              PX       77.79   -0.29

nearly 10 percent.                                                     try’s economy is getting better,                                         Daimler AG                 DAI     50.98    -0.13      Presstek                 PRST      4.01     0.03
                                    shaping up as a referendum on      even as their individual situa-     foot mill in Youngstown              Direxion FinBear 3X
                                                                                                                                                Direxion FinBull 3X
                                                                                                                                                                           FAZ
                                                                                                                                                                           FAS
                                                                                                                                                                                   14.99
                                                                                                                                                                                   25.54
                                                                                                                                                                                              1.22
                                                                                                                                                                                           -2.46
                                                                                                                                                                                                       ProShs UltraSht S&P
                                                                                                                                                                                                       ProSh Ultra Sht QQQ
                                                                                                                                                                                                                                SDS
                                                                                                                                                                                                                                QID
                                                                                                                                                                                                                                        32.89
                                                                                                                                                                                                                                         17.57
                                                                                                                                                                                                                                                   0.89
                                                                                                                                                                                                                                                   0.48
    The president came to           incumbent Democrats — and          tions may not be yet. He got        now that the nearby Norfolk          Dow Chemical               DOW     26.73    -0.17      ProShs Ultra S&P500      SSO     38.48     -1.05
explain and defend economic         to a degree the president.         out of Washington and donned        Southern railroad is building        DryShips Inc
                                                                                                                                                Du Pont
                                                                                                                                                                           DRYS
                                                                                                                                                                           DD
                                                                                                                                                                                    5.01
                                                                                                                                                                                   37.08
                                                                                                                                                                                             -0.11
                                                                                                                                                                                           -0.57
                                                                                                                                                                                                       ProSh UltSh RealEst
                                                                                                                                                                                                       ProSh Ultra Fincl
                                                                                                                                                                                                                                SRS
                                                                                                                                                                                                                                UYG
                                                                                                                                                                                                                                         27.94
                                                                                                                                                                                                                                        59.38
                                                                                                                                                                                                                                                    1.34
                                                                                                                                                                                                                                                  -3.55
stimulus spending, and mea-            Two Democratic senators                                             a spur, thanks to money from         E TRADE Financial          ETFC     1.49   -0.04       RPM Intl                 RPM      20.15   -0.43
                                                                       a hard hat, goggles and a fire-                                          Eastman Kodak              EK       5.66    -0.15      Regions Fincl            RF        7.92   -0.35
sures like tax credits and          — Arlen Specter of Pennsyl-                                            last year’s stimulus act. To
                                                                       retardant jacket while touring                                           EnPro Inds                 NPO     33.21   -0.92       SPDR S&P Retail          XRT      40.21   -0.93
extended unemployment ben-          vania and Blanche Lincoln of                                           applause from the assembled          Exxon Mobil Corp           XOM     62.79   -0.48       Sara Lee Corp            SLE      14.77    -0.13
                                                                       a hot, noisy plant where metal                                           Fannie Mae                 FNM      0.98   -0.02       Sears Holdings Corp      SHLD    102.01   -6.89
efits he’d championed with          Arkansas — faced stiff chal-                                           workers, Obama said it would         FirstEnergy Corp           FE      35.92   -0.63       Sprint Nextel Corp       S          4.7       0.2

mostly Democratic support                                              piping was being manufac-                                                FirstMerit Corp            FMER      19    -0.63       SPDR                     SPY      112.4    -1.55
                                    lenges from fellow Democrats,                                          be the biggest industrial plant      Ford Motor                 F       11.55    -0.41      SPDR Financial           XLF      14.92   -0.44
in Congress. Without those                                             tured.
                                    who say the senators were not                                          built in the region since a GM       GenCorp
                                                                                                                                                Gen Dynamics
                                                                                                                                                                           GY
                                                                                                                                                                           GD
                                                                                                                                                                                    5.65
                                                                                                                                                                                   70.55
                                                                                                                                                                                           -0.09
                                                                                                                                                                                            -1.22
                                                                                                                                                                                                       Standex
                                                                                                                                                                                                       Taiwan Semicon
                                                                                                                                                                                                                                SXI
                                                                                                                                                                                                                                TSM
                                                                                                                                                                                                                                        26.87
                                                                                                                                                                                                                                          9.73
                                                                                                                                                                                                                                                   -1.21
                                                                                                                                                                                                                                                 -0.24
measures, he said, “the steady      sufficiently loyal to party pri-       He acknowledged that            plant went up in nearby Lord-        Gen Electric               GE      17.23   -0.33       Texas Instruments        TXN     24.54    -0.88

progress we are beginning           orities. And in a special House    some may not be impressed           stown in the 1960s.
                                                                                                                                                Gen Mills
                                                                                                                                                Goodrich Corp
                                                                                                                                                                           GIS
                                                                                                                                                                           GR
                                                                                                                                                                                   73.71
                                                                                                                                                                                   73.43
                                                                                                                                                                                              -0.2
                                                                                                                                                                                           -0.79
                                                                                                                                                                                                       3M Company
                                                                                                                                                                                                       Timken Co
                                                                                                                                                                                                                                MMM
                                                                                                                                                                                                                                TKR
                                                                                                                                                                                                                                        84.02
                                                                                                                                                                                                                                         31.47
                                                                                                                                                                                                                                                 -0.66
                                                                                                                                                                                                                                                 -0.54
to see across America just          race in southwestern Penn-         by a president swooping into            Obama’s visit to Youngstown      Goodyear                   GT      12.39   -0.56       Vale SA                  VALE
                                                                                                                                                                                                                                VZ
                                                                                                                                                                                                                                        26.05
                                                                                                                                                                                                                                        28.42
                                                                                                                                                                                                                                                 -0.94
                                                                                                                                                                                                                                                 -0.24
                                                                                                                                                Gorman-Rupp                GRC     28.35   -0.86       Verizon Comm
wouldn’t exist.”                    sylvania that’s attracted high     town, when all they want            was the latest on Obama’s            Honeywell Intl             HON     44.72   -0.42       Viacom Inc               VNV     24.35    -0.34
                                                                                                                                                                                                                                VOD      19.54   -0.53
    Republicans have opposed        spending from the national         to see is a headline saying:        White House-to-Main Street
                                                                                                                                                Hospira Inc
                                                                                                                                                Humana
                                                                                                                                                                           HSP
                                                                                                                                                                           HUM
                                                                                                                                                                                   52.71
                                                                                                                                                                                    46.2
                                                                                                                                                                                            -0.16
                                                                                                                                                                                             0.31
                                                                                                                                                                                                       Vodafone Group
                                                                                                                                                                                                       WalMart Stores           WMT      53.71     0.98

the steep cost of Obama’s           political parties, a Republican    “You’re hired.”                     tour of towns and businesses,        Huntgtn Bancshs
                                                                                                                                                iShs Emerg Mkts
                                                                                                                                                                           HBAN
                                                                                                                                                                           EEM
                                                                                                                                                                                    6.16
                                                                                                                                                                                   38.43
                                                                                                                                                                                           -0.34
                                                                                                                                                                                           -0.82
                                                                                                                                                                                                       Wayne Savings Bcsh
                                                                                                                                                                                                       Wells Fargo & Co
                                                                                                                                                                                                                                WAYN
                                                                                                                                                                                                                                WFC
                                                                                                                                                                                                                                          8.25
                                                                                                                                                                                                                                        30.59
                                                                                                                                                                                                                                                  -0.21
                                                                                                                                                                                                                                                  -1.38
plans and criticized the pace       and Democrat faced off to see          Still, he tried to keep spir-   often in economically depressed      iShares Rus 2000
                                                                                                                                                Intel Corp
                                                                                                                                                                           IWM
                                                                                                                                                                           INTC
                                                                                                                                                                                   68.35
                                                                                                                                                                                   21.43
                                                                                                                                                                                            -1.34
                                                                                                                                                                                           -0.59
                                                                                                                                                                                                       Wendys Arbys Group
                                                                                                                                                                                                       Weyerhaeuser Co
                                                                                                                                                                                                                                WEN
                                                                                                                                                                                                                                WY
                                                                                                                                                                                                                                         4.63
                                                                                                                                                                                                                                        44.45     -1.28
                                                                                                                                                                                                                                                       0

of the promised recovery, par-      who would serve out the final      its up for employees at V&M         regions.                             JPMorgan Chase & Co        JPM     39.02   -0.82       Worthington Inds         WOR        15    -0.25
                                                                                                                                                Kimberly Clark             KMB       62    -0.29       Xerox Corp               XRX      10.01   -0.09


                                                                                                                                                  MUTUAL FUNDS

Old GM site in Lordstown may get funding for cleanup
                                                                                                                                                Name                                                              Symbol           Last           Chg.
                                                                                                                                                American Funds American Balanced A                                ABALX             16.4          -0.13
                                                                                                                                                American Funds Bond Fund of Amer A                                ABNDX             12.1           0.03
                                                                                                                                                American Funds Capital Inc Bldr A                                 CAIBX            45.57         -0.34
                                                                                                                                                American Funds Capital World G/I A                                CWGIX            31.04            -0.4
                                                                                                                                                American Funds EuroPacific Gr A                                    AEPGX            34.71         -0.38
By KEN THOMAS                                  rehabilitate dozens of vacant manufac-          ing most, if not all, of its investment” in      American Funds Fundamental Investors A
                                                                                                                                                American Funds Growth Fund of Amer A
                                                                                                                                                                                                                  ANCFX
                                                                                                                                                                                                                  AGTHX
                                                                                                                                                                                                                                   32.01
                                                                                                                                                                                                                                   26.95
                                                                                                                                                                                                                                                 -0.42
                                                                                                                                                                                                                                                 -0.34
Associated Press                               turing facilities and offices left barren       GM.                                              American Funds Inc Fund of Amer A                                 AMECX            15.25             -0.1
                                               by GM’s government-led bankruptcy last              Montgomery and Summers said the              American Funds Invmt Co of Amer A                                 AIVSX            25.38         -0.32
    WASHINGTON — The Obama admin-                                                                                                               American Funds New Perspective A                                  ANWPX            24.24            -0.3
                                               year. Montgomery announced the cleanup          environmental plan would provide $536            American Funds Washington Mutual A                                AWSHX            24.55          -0.31
istration on Tuesday proposed a trust          at a conference sponsored by the White
                                                                                                                                                Davis NY Venture A                                                NYVTX            30.53         -0.47

fund of more than $800 million to pay                                                          million for the cleanup of properties and        Dodge & Cox Balanced                                              DODBX            64.36         -0.74
                                               House and the Brookings Institution on          about $300 million to help states and
                                                                                                                                                Dodge & Cox Income                                                DODIX            13.21           0.03
for the cleanup of closed General Motors       the future of automotive communities
                                                                                                                                                Dodge & Cox International Stock
                                                                                                                                                Dodge & Cox Stock
                                                                                                                                                                                                                  DODFX
                                                                                                                                                                                                                  DODGX
                                                                                                                                                                                                                                   29.58
                                                                                                                                                                                                                                   95.99
                                                                                                                                                                                                                                                 -0.49
                                                                                                                                                                                                                                                     -1.6
sites in 14 states.                                                                            communities pay for property taxes,              Fidelity Balanced                                                 FBALX            16.65          -0.14
                                               affected by the industry’s downsizing.          demolition costs, plant security and other       Fidelity Contrafund                                               FCNTX            58.14         -0.86
    President Barack Obama, speaking in            General Motors received $50 billion                                                          Fidelity Diversified International                                 FDIVX            25.14          -0.51
Youngstown, which is near a GM assem-                                                          expenses.                                        Fidelity Equity-Income                                            FEQIX            39.69         -0.76
                                               in government aid to get through its                More than half of the sites are in Mich-
                                                                                                                                                Fidelity Freedom 2020                                             FFFDX            12.51           -0.11
bly plant in Lordstown, called the trust a     bankruptcy last year. GM has repaid $6.7
                                                                                                                                                Fidelity Growth Company
                                                                                                                                                Fidelity Low-Priced Stock
                                                                                                                                                                                                                  FDGRX
                                                                                                                                                                                                                  FLPSX
                                                                                                                                                                                                                                   70.23
                                                                                                                                                                                                                                   33.49
                                                                                                                                                                                                                                                  -1.08
                                                                                                                                                                                                                                                 -0.46
“landmark agreement to help dozens of                                                          igan, and others are located in Ohio, Indi-      Fidelity Magellan                                                 FMAGX            64.25          -0.91
                                               billion that the government considered
communities like Youngstown revitalize                                                         ana and New York. The fund will “take            Fidelity Puritan                                                  FPURX            16.35          -0.14
                                               loans, with the remaining $43.3 billion                                                          Fidelity Spartan 500 Index Inv                                    FUSEX            39.76         -0.56
and redevelop old, shuttered GM facili-                                                        these properties and once again make             Franklin Income A                                                 FKINX             2.05          -0.01
                                               converted to a 61 percent stake in the                                                           Harbor International Instl                                        HAINX            49.07          -1.06
ties, preparing them for new industries,       automaker.                                      them productive assets for your towns            PIMCO Total Return A                                              PTTAX            11.15           0.02
                                                                                                                                                PIMCO Total Return Admin                                          PTRAX            11.15           0.02
new jobs and new opportunity.”                     GM said Monday that its net income          and communities,” Montgomery said.               PIMCO Total Return Instl                                          PTTRX            11.15           0.02
    Ed Montgomery, who leads the White         rose to $865 million in the first quarter.          Some of the sites include: former GM         T. Rowe Price Growth Stock
                                                                                                                                                Vanguard 500 Index Admiral
                                                                                                                                                                                                                  PRGFX
                                                                                                                                                                                                                  VFIAX
                                                                                                                                                                                                                                   27.28
                                                                                                                                                                                                                                  103.52
                                                                                                                                                                                                                                                 -0.48
                                                                                                                                                                                                                                                  -1.47
House Council on Automotive Commu-             Company officials have said a public stock      plants in Wilmington, Del.; Kansas City,         Vanguard 500 Index Investor
                                                                                                                                                Vanguard GNMA Adm
                                                                                                                                                                                                                  VFINX
                                                                                                                                                                                                                  VFIJX
                                                                                                                                                                                                                                   103.5
                                                                                                                                                                                                                                   10.87
                                                                                                                                                                                                                                                  -1.47
                                                                                                                                                                                                                                                   0.01
nities and Workers, said the fund would        offering — a key step in the government         Kan.; Shreveport, La.; Pontiac, Mich.;           Vanguard GNMA                                                     VFIIX            10.87           0.01
                                                                                                                                                Vanguard Institutional Index Instl Pl                             VIIIX           102.83          -1.46
clean up nearly 90 properties shuttered in     eventually selling its ownership stake —        Flint, Mich.; Lansing, Mich.; and Moraine,       Vanguard Institutional Index Instl                                VINIX           102.82          -1.47
the GM bankruptcy.                             could come later this year or in 2011.          Ohio. Other facilities are located in Syra-      Vanguard Interm-Term Tx-Ex Adm
                                                                                                                                                Vanguard PRIMECAP
                                                                                                                                                                                                                  VWIUX
                                                                                                                                                                                                                  VPMCX
                                                                                                                                                                                                                                   13.56
                                                                                                                                                                                                                                  58.09          -0.83
                                                                                                                                                                                                                                                        0

    He said it represented the largest envi-       White House economic adviser Larry          cuse, N.Y.; Janesville, Wis.; Indianapolis;      Vanguard Short-Term Investment-Grade Adm
                                                                                                                                                Vanguard Total Bond Market Index Adm
                                                                                                                                                                                                                  VFSUX
                                                                                                                                                                                                                  VBTLX
                                                                                                                                                                                                                                   10.74
                                                                                                                                                                                                                                   10.59
                                                                                                                                                                                                                                                   0.01
                                                                                                                                                                                                                                                   0.03
ronmental and economic development             Summers gave an upbeat assessment of            West Mifflin, Pa.; Fredericksburg, Va.;          Vanguard Total Bond Market Index                                  VBMFX            10.59           0.03
                                                                                                                                                Vanguard Total Intl Stock Index                                   VGTSX              13          -0.27
effort for former manufacturing sites.         the company’s future, saying there was a        Kokomo, Ind.; Framingham, Mass.; Dan-            Vanguard Total Stock Mkt Idx Adm                                  VTSAX              28           -0.41
    The cleanup plan will help raze or         “real prospect of the government recover-       ville, Ill., and Trenton, N.J.                   Vanguard Total Stock Mkt Idx Instl
                                                                                                                                                Vanguard Total Stock Mkt Idx
                                                                                                                                                                                                                  VITSX
                                                                                                                                                                                                                  VTSMX
                                                                                                                                                                                                                                     28
                                                                                                                                                                                                                                   27.99
                                                                                                                                                                                                                                                  -0.41
                                                                                                                                                                                                                                                  -0.41
                                                                                                                                                Vanguard Wellington Adm                                           VWENX            49.91         -0.36
                                                                                                                                                Vanguard Wellington                                               VWELX            28.89          -0.21
                                                                                                                                                Vanguard Windsor II Investor                                      VWNFX            23.64         -0.37

                                                                                                                                                  Note: Visit www.times-gazette.com for more detailed stock information.

Fair Finance investors hear update on asset recovery
By CHRIS LEONARD                                   No one has been charged with criminal          But financial recovery could take a few                                   MARKET REPORTS
Dix Communications                             wrongdoing.                                     years. The process, he said, takes time
                                                   At Monday’s meeting, Bash detailed                                                         Precious metals                                          Select steers .............. 82.00-87.00
   AKRON — Hundreds of Fair Finance                                                            because recovering assets such as art,                                                                  Holstein steers .......... 64.00-73.00
                                               the structure of Fair Finance and how it                                                       Gold, oz. ........................... 1,214.30
investors had a chance Monday to learn                                                         cars or a home can’t take place until a                                                                 Choice heifers ........... 88.00-97.00
                                                                                                                                              Silver, oz. .............................. 18.85
about the fate of their money since a          was owned by various companies, liken-          buyer is found.                                                                                         Select heifers ............ 67.00-82.00
                                                                                                                                              Platinum, oz. ................... 1,688.50
November FBI raid put the shaken finan-        ing the company to a parent-grandparent            Durham loaned money to at least 10          Palladium, oz. .................... 506.00               Holstein heifers ......... 65.00-79.00
cial company into legal limbo.                 subsidiary corporation relationship, rath-      companies, Bash said. Legal counsel Kelly
   Surrounded with a small team of ana-        er than a parent-subsidiary relationship.       Burgan said some of those companies                                                                     Cows
                                                   Fair Finance, started in 1934, was                                                         Cash corn                                                Comm. and utility ..... 55.00-68.50
lysts, accountants and attorneys at the                                                        were insolvent upon receiving the loan.
                                               bought by Indiana businessman Tim Dur-                                                         May corn ................................ 3.08           Canner/cutter ............ 24.00-52.00
Akron City Centre Hotel, Fair Finance                                                             “Virtually all the money that he used to    June 2010 corn ....................... 3.10
trustee Brian Bash was bombarded with          ham in 2002. Since then, it has been co-        get ownership in these things was derived      O/N 2010 corn ........................ 3.09              Bulls
questions — in two different sessions          owned with James Cochran. The compa-            from Fair Financial; that’s where your                                                                  All bulls ...................... 57.00-71.25
                                                                                                                                              Jan. 2011 corn ........................ 3.26
because of the volume of attendees —           ny sold investment certificates that came       investment certificate money is going we
about financial concerns, pending crimi-       with rates as high as 9 percent, but were       think, to a large degree,” Bash said.          Cash beans                                               Feeder Cattle
nal investigations and the overall process     not government-insured. It is owned by             Howard Kleine, a forensic accountant,       May beans .............................. 9.10
                                                                                                                                                                                                       Yearling steers ......... 75.00-102.00
to regain assets.                              its parent company Fair Holdings, which         said he has been examining seized Fair         June 2010 beans .................... 9.10
                                                                                                                                                                                                       Yearling heifers ....... 75.00-102.00
                                               in turn is wholly owned by its parent DC                                                                                                                Steer calves ............. 75.00-102.00
   Bash said the focus of the trustees is                                                      Finance records.                               S/O/N 2010 beans .................. 8.39
                                                                                                                                                                                                       Heifers calves .......... 75.00-102.00
to recover assets, not to pursue a crimi-      Investments, according to court records.                                                       Jan. 2011 ................................. 8.53
                                                                                                  “Now most cases like this, there is                                                                  Holstein steers 550 & down .........
nal investigation. Trustees are looking at         All three companies are jointly owned
                                               by Durham and Cochran.                          no hidden cash as much as you want to                                                                   ................................... 75.00-102.00
recovering real estate, cars, artwork and                                                      believe. Normally, these people are spend-     Cash wheat                                               Holstein steers 550 & up ..............
third-party loans involving Fair Finance           “The money that was taken through                                                          May wheat ............................. 4.08             ................................... 75.00-102.00
                                               the investment certificates that you all        ing it as fast as they get the cash,” Kleine
co-owners Tim Durham and James                                                                 said.                                          July/Aug. 2010 ........................ 4.02
Cochran.                                       purchased over a period of time, that                                                                                                                   Back to Farm Calves
                                               $200 million or more, was taken from Fair           Bash said his law firm, which worked       Oats                                                     Bulls .......................... 10.00-120.00
   Monday’s event was classified as a
“341” meeting, part of the bankruptcy          Finance, floated up through Fair Holdings,      on the Bernie Madoff case, is investigating    Cash oats ............................... 2.50
process. Bash was appointed interim            through to DCI and out DCI to affiliated        Fair Finance’s insurance policies to deter-                                                             Goats
                                                                                               mine if any investments can be recouped.       Creston                                                  All goats ................... 52.00-102.50
trustee after investors forced the compa-      companies, Obsidian, which made loans
                                                                                               Any money recovered is being invested in       May 17, 2010
ny into bankruptcy in February.                to National Lampoon, which made loans                                                                                                                   Feeder Sale
   The U.S. Attorney’s Office for the          to U.S. Rubber Recycling, which made            a trust fund, gaining some interest, at the    Hogs                                                     2 p.m. Friday, May 21
Southern District of Indiana filed a civil     loans to a number of other companies,”          Bank of America, which is FDIC insured,        Market hogs .............. 52.00-65.25
lawsuit the day of the November FBI            Bash said at Monday’s meeting.                  Bash said.                                     Light ........................... 62.00-65.25            West Salem Town & Country
                                                   Fair Finance, Fair Holdings and DCI            Fair Finance has eight offices through-     Heavy ......................... 52.00-60.00              Co-Op Hay and Straw Auction
raid, which was later dismissed, accusing
                                                                                                                                                                                                       May 18, 2010
Durham, his companies and associates of        all filed consolidated tax statements.          out northeast Ohio, including one each in
                                                                                                                                              Sows                                                     1st cut mix hay . 72.50-195.00 ton
defrauding customers by getting them to            Bash said he has filed paperwork try-       Ashland, Medina and Wooster.                   Light ...................................... 44.00       1st cut sq. mix ............... 2.100 ea.
buy investment certificates and using that     ing to consolidate the tax statements at        ■ Reporter Chris Leonard can be reached at                                                              1st cut alfalfa ................ 75.00 ton
money to make interest and redemption          the bankruptcy level to examine all the         330-287-1643 or e-mail cleonard@the-daily-     Cattle                                                   2nd cut alfalfa ................. 2.20 ea.
payments to earlier investors.                 books throughout all the companies.             record.com.                                    Choice steers ........... 90.00-100.00                   Eggs ...... ......................... 1.30 doz.

				
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