Penn State sex scandal sends sales plummeting
PHILADELPHIA — The unfolding Penn State child molestation scandal has slammed the university’s reputation and shaken its loyal fan base, which sees the school as more than a campus or a team but a way of life, an identity and a brand.
Part of the immediate fallout from the developing investigation is economic. Retailers and industry analysts say sales of hats, shirts and other items with the Penn State name have plummeted about 40 percent overall compared with the same period last year.
Matt Powell, an analyst with industry research organization SportsOneSource Group, says it’s the first time he has seen such a dramatic and fast decline.
Former football defensive coordinator Jerry Sandusky is accused of sexually abusing eight boys over 15 years. He says he is innocent.
Chrysler, GM investments hailed as gateways for jobs
TOLEDO — Three big investments by automakers in one Ohio city are raising hopes for a revived economy.
Chrysler Group LLC and General Motors Co. have promised to spend more than $800 million on retooling and expanding their factories in Toledo.
These moves announced in recent months will create at least 1,400 jobs and keep thousands more. Parts suppliers also are expected to add jobs in and around Toledo.
Chrysler announced plans Wednesday to build a new Jeep sport utility vehicle at its Toledo assembly plant while adding 1,100 jobs. It also hinted that more work could be coming.
Toledo Mayor Mike Bell called the news “the equivalent of a blood transfusion for our city.”
McDonald’s drops egg supplier over cruelty charges