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Volvo to close equipment plant in N.C. in March ASHEVILLE (AP) — Volvo is closing its heavy construction equipment plant in North Carolina next March, leaving 228 workers without jobs. The company told The Asheville Citizen-Times on Friday that demand for the equipment dropped off sharply. Volvo spokeswoman Beatrice Cardon says the company sold just 60,000 pieces of equipment in North America this year, two-thirds below projections. The plant assembles front-end loaders, excavators and cabs. The work will now be sent to plants in Shippensburg, Pa., as well as Sweeden and South Korea. Volvo says it plans to keep its North American sales headquarters in Asheville. That facility has about 250 workers.

The Daily Dispatch

Business & Farm

Obama blasts bankers for opposing financial overhaul By DARLENE SUPERVILLE Associated Press Writer

WASHINGTON (AP) — President Barack Obama singled out financial institutions for causing much of the economic tailspin and criticized their opposition to tighter federal oversight of their industry. While applauding House passage Friday of overhaul legislation and urging quick Senate action, Obama expressed frustration with banks that were helped by a taxpayer bailout and now are “fighting tooth and nail with their lobbyists� against new government controls. In his weekly radio and Internet address Saturday, Obama said the economy is only now beginning to recover from the “irresponsibility� of Wall Street institutions that “gambled risky loans and complex Russia-Norway team on financial products� in purwins Iraqi oil field bid suit of short-term profits and big bonuses with little BAGHDAD (AP) — Rus- regard for long-term consesia’s private oil giant Luquences. koil and Norway’s Statoil “It was, as some have ASA on Saturday won the put it, risk management biggest prize of Iraq’s secwithout the management,� ond oil auction this year: he said. the 12.88 billion barrell The president also West Qurna Phase 2 field told CBS’ “60 Minutes� in the Basra region. Russia that “the people on Wall had been promised the deal Street still don’t get it. ... under Saddam Hussein’s They’re still puzzled why regime. it is that people are mad In the opening round at the banks. Well, let’s Friday, an alliance groupsee. You guys are drawing European giant Shell ing down $10, $20 million and Malaysia’s state-run bonuses after America Petronas was awarded the went through the worst 12.5 billion barrel Majnoon economic year ... in defield, also in the south. cades and you guys caused The two fields reprethe problem,� Obama said sented about half of the in an excerpt released in reserves up for grabs in advance of tonight’s broadIraq’s biggest postwar cast of his interview. auction. The House bill, which

passed 223-202, would grant the government new powers to split up companies that threaten the economy, create an agency to oversee consumer banking transactions and shine a light into shadow financial markets that have escaped federal oversight. Obama is seeking swift approval in the Senate “because we should never again find ourselves in the position in which our only choices are bailing out banks or letting our economy collapse.� No House Republicans voted for the bill, and 27 Democrats voted against it. Opponents argue that the broad legislation overreaches and would institutionalize bailouts for the financial industry. The Senate Banking, Housing and Urban Affairs Committee is working on its own version of the package. In his address, Obama contended that the worst economic downturn since the Depression wouldn’t have happened if the rules governing Wall Street had been clearer and enforcement tougher. Obama singled out Republicans and industry lobbyists for trying to block the changes. Last week, top House

5A

Sunday, December 13, 2009

Republicans urged more than 100 financial industry lobbyists to work harder to defeat the bill. Lobbyists have spent more than $300 million this year trying to scuttle the bill. Opponents say that the changes would limit consumer choice and that added federal oversight would stunt financial market innovation. Obama suggested that was one risk worth taking. “Americans don’t choose to be victimized by mysterious fees, changing terms and pages and pages of fine print. And while innovation should be encouraged, risky schemes that threaten our entire economy should not,� he said. “We can’t afford to let the same phony arguments and bad habits of Washington kill financial reform and leave American consumers and our economy vulnerable to another meltdown.� Obama has scheduled a meeting Monday at the White House with financial services industry leaders to seek support for his effort to tighten federal oversight of the industry and to limit pay for top executives at institutions that accepted billions in bailout money from the government.

The

THE WEEK ON WALL STREET

Dow Jones industrials

11,000 10,000

For the week ending Friday, Dec. 11

9,000 8,000 7,000

+82.60 10,471.50

D J

F

M

A M

J

J

A

S

O

Nasdaq composite

For the week ending Friday, Dec. 11 -4.04 2,190.31

D J

F

M

A M

J

J

A

S

O

N D

Standard & Poor’s 500

For the week ending Friday, Dec. 11 +0.43 1,106.41

D J

F

M

A M

J

J

A

S

O

6,000

N D

N D

2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,200 1,100 1,000 900 800 700 600

10,500 10,450 10,400 10,350 10,300 10,250 10,200

Week’

10

N

2

S&

1

Russe

1

7

AP SOURCE:

SOURCE: SunGard

MARKET WEEKLY 121109: Market charts show 500, Nasdaq, NYSE, AMEX and Russell 2000; tw 96.3 mm x 98.4 mm; 1c x 4 inches; 46.5 mm x 10

Dell to keep N.C. computer plant open three more months Editors: All figures as of: 5:25:52 PM EST

NOTE: Figures reflect market fluctuations after close; may not match other AP content

WINSTON-SALEM (AP) — Dell Inc. officials say they will keep their plant in North Carolina open for an extra three months because of increased demand for desktop computers. Company officials told multiple media outlets Friday that the WinstonSalem plant will now close in April, instead of January. Dell spokesman David Frink says the 400 remaining employees can either leave in January and take their severance, or stay the extra three months and get a bonus, as well as

their full severance pay. The plant peaked at 1,100 workers. Dell was offered more than $300 million in state and local incentives to choose a North Carolina factory site in 2004.

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CMYK 12A

Local News

The Daily Dispatch

Sunday, December 13, 2009

WE CAN

SHOW YOU A HEALTHIER WAY

Featured Doctor James A. McCarthy, MD is a physician

Dr. McCarthy

Daily Dispatch/EARL KING

Santa and friends “Cookies and Milk with Santa” is a hit Saturday at the Aycock Recreation Center as youngsters climbed onto the jolly old elf’s knee and told him their Christmas wishes. Some of Santa’s visitors are, clockwise from top left, Kyra Turrentine, Matthew Wilson, Jameel Lofton who seems a little doubtful and Amber Jackson, who, like all the visitors, got a sweet treat from the candy bowl.

Oxford Public Works panel meeting set

Have you been considering owning Alpacas?

By DISPATCH STAFF

The Oxford City Commission’s Public Works Committee will meet at 1 p.m. Wednesday in the engineering conference room on the second floor of City Hall, 300 Williamsboro St. The committee will discuss proposed changes in the sewer and water fees, the expansion of the Granville Health System hospital, the 30-year master plan for water and sewer and the expansion of the Kerr Lake Regional Water System. Commission committee meetings are open to the public.

Now is a GREAT time to purchase to take advantage of the 2009 Tax Credits! We are a full service alpaca farm with many alpacas to choose from. We are offering package deals with significant savings off our internet prices! Call 434-252-1406 For more information

who specializes in Obstetrics and Gynecology. He is a graduate of the Emory Univ. School of Medicine and he completed his OB/GYN Residency & Internship at Emory Univ. Hospital. He also completed his Fellowship at the National Institutes of Health. Dr. McCarthy is board-certified by the American Board of Obstetrics and Gynecology. He works with Drs. Hampton, Hays and McLawhorn at Premier Women’s Health Professionals in Henderson and Oxford. Their Henderson office number is (252) 438-5000.

Calendar of Events Stroke Support Group

Pre-Op Orthopedic Rehab Class

Wednesday, December 30th 3:00pm in the Brodie Waddill Conference Room - Call 252.436.1604 for more info

Wednesday, January 6th from 3:30-4:30 in the MPMC Classroom - This class is free. Call Ben at (252) 436-1235 if you have questions or need additional information.

Healthy Moments Early Care of Pregnancy is Important In spite of the excitement of becoming pregnant, many women do not seek medical care as soon as they should. However, there are many reasons for seeing your doctor as soon as possible. It is very early in the pregnancy that the major risk of complications occur. These complications include both accidental harm to the developing baby, such as from exposure to x-rays, infections or medicines, and the unavoidable complications, such as miscarriages and tubal pregnancies. Your doctor can advise you about the risks of medicines, alcohol, tobacco, caffeine and other substances. Early in the pregnancy the doctor will prescribe vitamins which will provide extra nutrition to the mother and the developing baby. Iron is important, and folic acid helps prevent the risk of defects of the brain and spinal cord. Early and regular prenatal care will give you the healthiest baby possible. It is even wise to have an exam and discuss potential risks with your doctor before conceiving.

Keeping You Informed

Southern Farm Bureau Life Insurance company offers a Single Premium www.millcreekalpacas.net deferred Annuity that provides with tax deferred growth and the Farmyou address: opportunity for guaranteed lifetime income 2167 Mill Creek Roadat retirement.Coming Soon!

Second Annual Granville Vance Weight Loss Challenge

Clarksville, VA 23927

Send comments to news@ hendersondispatch.com.

(just outside of Townsville)

Stay focused on what’s important. Get Real life insurance (252) 438-4119

Due to the popularity of last year’s inaugural event, the Granville Vance District Health Department, Granville Health System and Maria Parham Medical Center will partner again this year to host the challenge. More details to follow, but mark your calendars! Weigh-in will be the week of January 11th and weight-out will be the week of March 22nd.

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An independent licensee of the Blue Cross and Blue Shield Association North Carolina Farm Bureau Mutual Insurance Co. Farm Bureau Insurance of North Carolina, Inc. Southern Farm Bureau Life Insurance Co., Jackson, MS

At Maria Parham Medical Center, we have a common goal – to provide you with the highest quality healthcare – period. From Labor & Delivery to Orthopedics to our new Nephrology services, our team is here for you.

Gary Stainback Agent

Maria Parham ranks in the top 20% of hospitals our size nationwide in cost comparisons. High quality, low cost – no wonder we’re the region’s first choice for healthcare. Because after all, we’re inspired by you.

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Auto • Home • Life 566 Ruin Creek Road | Henderson, NC | (252) 438-4143 | www.mariaparham.com


Dispatch-121309-ASection4  

Newspaper covering Vance, Granville and Warren counties in NC

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