News Midday Update: Weyerhaeuser to close Ga. mill; no one hurt when shot fired at Ohio's Bowling Green Univ.; Ford announces $129M 3Q loss, burns $7.7B in cash

Weyerhaeuser has announced it will close its mill in Colbert indefinitely.

A spokeswoman for the wood products company said the shutdown will affect about 100 workers.

The company had already laid off about 80 employees in mid Oct.

The Colbert plant manufactured pressed wood beams and planks. Weyerhaeuser blamed the closing on a depressed housing market.

The Washington-based company said it would provide affected employees with severance pay and help finding new jobs.

Associated Press

No one hurt when shot fired at Ohio's Bowling Green Univ.

Police at Bowling Green State University in Ohio say someone fired a gun in a parking lot. No one was injured.

A student is in custody and is being questioned. A university spokesman said Friday an "all-clear" text message has been sent to students.

Spokesman Dave Kielmeyer (KEEL'-meye-er) said a gunshot was reported in the parking lot about 6:35 a.m. Students were told by text message to stay away from Parking Lot 12, which is designated for on-campus student parking.

The school has not released the name of the person being questioned by campus police.

Associated Press

Suspects in plot to kill Obama plead not guilty

Two white supremacists have pleaded not guilty in an alleged plot to kill President-elect Barack Obama and dozens of other black people.

Twenty-year-old Daniel Cowart of Tennessee and 18-year-old Paul Schlesselman of Arkansas spoke only to give their pleas Thursday morning in a Memphis courtroom.

They face federal charges of threatening a presidential candidate, possession of a sawed-off shotgun, planning to rob a gun dealer and taking firearms across state lines.

The seven-count indictment says the men hatched the plot for the killing spree sometime between Sept. 1 and Oct. 22. Court records indicate their scheme fell apart quickly.

Their arrests were made public Oct. 27 and they are being held without bond.

Associated Press

Ford announces $129M 3Q loss, burns $7.7B in cash

Ford Motor Co. said Friday it lost $129 million in the third quarter as the struggling automaker burned through $7.7 billion in cash.

The automaker also said it will cut about 2,260 more white-collar employees in North America as it tries to weather the worst economic downturn in decades.

Ford says it lost 6 cents per share for the quarter, compared with a loss of $380 million, or 19 cents per share, a year ago.

The company posted a pretax loss of $2.7 billion from continuing operations. But it was offset partly by a $2 billion gain as the company shifted retiree health care liabilities to a trust run by the United Auto Workers.

Ford's global automotive operations had a pretax loss of $2.9 billion for the quarter, compared with a pretax loss of $362 million a year earlier.

Sales fell 22 percent to $32.1 billion from $41.1 billion due to lower volume and the sale of Jaguar and Land Rover.

Excluding special items, Ford lost $1.31 per share, worse than Wall Street expected. Analysts surveyed by Thomson Reuters predicted a loss of 94 cents per share on sales of $28 billion.

Associated Press


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