The Cincinnati Enquirer from Cincinnati, Ohio • Page 17

SECTION THURSDAY, SEPTEMBER 16, 2010 CONTACT US CALL THE BUSINESS DESK AT 93-768-8500 Editor Josh Pichler, jpichlerenquirer.com men nu vniiD ounuc Graduate Nursing at Xavier Information Sessions Sept. 30, PM www.xavier.edumsn LJ I business updates, as they happen. luimer purges may appiyj SLOWING DOWN Factory production cooled in August, pointing to a slower pace of growth as the U.S. struggles to sustain a recovery from the recession. Story, B2.

IWKrM OJ Urn frag it rates questioned MARKET GLANCE How the markets did yesterday, compared to the previous trading day. See full Money Markets listings, page B3. DOW CLOSE: i CLOSE: 10572.73 -fk 11125.07 4 CHANGE: 11 CHANGE: a 46.24 i 3.97 Report, legislation calls for increased regulation OIL NASDAQ CLOSE: 9501 39 Bloomberg News and the Associated Press U.S. railroads such as Berkshire Hathaway Burlington Northern Santa Fe may need closer rate regulation, given their profitability, the chairman of the Senate Commerce Committee said. Sen.

Jay Rockefeller, cited railroads' share buybacks, dividend increases and Berkshire chief executive officer Warren Buf-fett's industry investment in a report Wednesday concluding that the companies are able to charge some customers too much particularly those who don't have an alternative way to ship their goods. CLOSE: $76.02 CHANGE: "Railroads have been able to maintain their high profit margins even during the sustained economic downturn of 2008-10," Rockefeller said in the report, released before a hearing on rail regulation. "Freight railroads have been assuring their investors the companies will take advantage of this 'robust pricing environment' and continue to push rate increases on their customers." Rockefeller is sponsoring legislation that would increase rail regulation and give customers, such as electric utilities and agricultural freight customers and passengers, as well as investors. "This report is aimed not at leveling the playing field, but at justifying attempts to regulate lower rates for some large shippers, like chemical companies, agribusiness and electric utilities," chief executive officer Edward Hamberger said in an e-mailed statement. "The railroad industry's return to financial health has resulted in private capital, not taxpayer dollars, getting turned back into building and maintaining the nation's rail network." producers, more power to challenge rates.

He criticized railroads for notifying the Surface Transportation Board, the regulator, that they don't have adequate funds while telling investors they have pricing leverage. The Standard and Poor's 500 Railroads Index has climbed 20 percent this year compared with an increase of less than 1 percent for the overall index. The Association of American Railroads, the Washington-based trade group, criticized the report, saying rail profitability helps CHANGE: 1155 Stocks overcame an early slide as investors received better news on U.S. industrial production and tried to keep a September rally alive. SHARES FALL 5.7 LOYAL FANS MOURN 17 fee AK Steel says it expects to report loss for current quarter BUSINESS SUMMARY Subway shop owner agrees to pay back wages The owner of a Subway sandwich shop franchise in West Chester Township has agreed to pay $24,956 in back pay and overtime to 55 current and former employees following an investigation of wage and hour violations by the U.S.

Department of Labor. The shop at 7132 Cincinnati-Dayton Road is owned and operated by Shri Nathjii Krupa Corp. The Department of Labor said the company routinely took deductions from employees' paychecks for cash-register shortages, dropping their wages below the federal minimum $7.25 an hour. Additionally, the Labor Department said it found employees weren't paid for all hours worked, were not paid time-and-a-half for hours worked over 40 a week and that the company didn't keep proper records during the investigation period from Oct. 8, 2007, to Oct.

17, 2009. Mike Boyer Union Twp. insurance agent surrenders his license A Union Township man has surrendered his insurance agent's license to state officials. Mary Jo Hudson, the Ohio insurance director, said her department accepted the license of Ter-rence D. Zinser for alleged violations of Ohio insurance law.

The department said an investigation revealed that Zinser allegedly failed to comply with Ohio's continuing-education requirements and received continuing-education credit for courses on May 10, 2006, and June 11, 2008, that were not taught. Zinser, who had held an agent's license since 1988, neither admitted nor denied the charges. The Enquirer to open new phone store in Beckett Commons will open a wireless phone store next month in the Beckett Commons shopping center, 8160 Princeton-Glendale Road. The retail center, owned and operated by Regency Centers, is anchored by a Kroger Co. store and includes a UPS store, GNC outlet and Subway sandwich shop.

Mike Boyer The Enquirer Jeff Swinger Melanle Cosgrove of Delhi Township and her 18-year-old daughter, Britney, have been watching "As the World Turns" for years. The last episode is Friday. As 'World' stops turning, leaves soap operas By Mike Boyer mboyerenquirer.com WEST CHESTER Shares of AK Steel fell 5.7 percent Wednesday after the steel maker said it expects to report a loss for the current quarter. AK's shares closed at $13.70, down 83 cents, after the company said it expects higher than originally projected raw material costs and maintenance expenses for an 11-day outage at its Ashland, plant blast furnace. As result, AK said it expects an operating loss of $20 a ton for the three months ended Oct.l, rather than an operating profit of $15 a ton forecast back in July.

The blast furnace shutdown, originally planned for the first half of next year, was accelerated because of furnace conditions, the company said. In addition, the price of iron ore a main component in steel making may increase more than expected from the 2009 benchmark price, the company said. The flat-rolled carbon, stainless and electrical steel maker has assumed a 65 percent increase for iron ore prices in the absence of a global iron ore benchmark price. While no benchmark has been set, AK said it now appears when the benchmark it set it will be higher than previously assumed. The company said any 5-percentage-point variation from its assumed 65 percent increase would result in an $11 million, or $7 a ton, change in operating profit.

itu Provided Cincinnati native Marie Masters as Dr. Susan Stewart with main character Dr. Bob Hughes (played by Don Hastings) on "As the World Turns." By John Kiesewetter jkiesewetterenquirer.com It's not just the end of "The World," but the end of a TV legacy. After the final "As The World Turns" on Friday, Procter Gamble won't have a daytime drama on the air for the first time in 77 years, since "Ma Perkins" aired on WLW-AM in 1933. "You could say it's the death of the soap opera, because if the last soap still produced by a soap company," said Sam Ford, 27, a Kentucky native who has taught "As The World Turns" classes at Massachusetts Institute of Technology.

When the show debuted in 1956, had "Ma Perkins" on radio and four other TV shows: "Search For Tomorrow," "The Edge Of Night," "Guiding Light" and "The Bright Day." The story of the Hughes family in fictional Oakdale quickly caught on with viewers, becoming the top daytime serial 1958-78. Fans are mourning. Melanie Cosgrove, 38, of Delhi Township hasn't missed an episode in 18 years. She started watching while pregnant and ordered to bed rest in 1992. TERMS NOT DISCLOSED 53 Processing buys Louisville-based NPC The Enquirer Fifth Third Processing Solutions announced Wednesday it has signed an agreement to acquire National Processing Co.

Financial terms were not disclosed. Downtown-based Fifth Third Processing said the deal to buy Louisville-based NPC creates one of the largest merchant acquiring businesses in the United States, with a particular expertise in dealing with small-and medium-sized businesses. Fifth Third Processing handles more than 33.3 billion ATM and point-of-sale transactions and more than $315 billion in debit- and credit-card sales volume a year for retailers and financial companies. It said its volume would increase to $344 billion as a result of the deal. The transaction is expected to close in November.

me in during the school year with what was going on," said Heasley, of Anderson Township. Heasley recalls watching young Julianne Moore on the show. Meg Ryan, Kevin Bacon, Marisa To-mei, Martin Sheen, James Earl Jones, Dana Delany, Parker Posey and Ming-Na also played roles. Mount Auburn native Marie Masters, who has played Dr. Susan Stewart on the show for 35 years, remembers Moore having braces on her teeth, and Posey "wearing ripped T- BUSINESS PEOPLE On the air What: The last "As the World Turns" When: 2 p.m.

Friday Where: CBS "I am so sad it's ending. If been a constant in my life," said Cosgrove, whose daughter turns 18 today. "I'm already emotional about losing my baby when she leaves for college next summer, and I'm losing my TV friends' of 18 years." Pat Heasley, 58, remembers watching with her mother as a child in Fort Wright. "Mom would fill Kerry Taylor has been named director of Ohio's Aerospace Hub of Innovation and Opportunity in Dayton. Taylor is a 25-year veteran of the Air 1 See SOAP, Page B2 Taylor ce wnere nis I0CUS was on intelligence, surveillance and reconnaissance.

After retiring in 2005, he served on the House Permanent Select Committee on Intelligence in Washington, D.C., and then as human intelligence program manager and director of business development for SRA International. 'MORE CUSTOMER-ORIENTED THAN SALES-ORIENTED' McSwain rolls out new design center IIFV' p'" il) I Today at Cincinnati.Com The Labor Department releases the Producer Price Index for August Stay In touch with Latest Business News: We bring you the freshest local, national and international business news by e-mail at 8 a.m. and 2:30 p.m. Monday through Friday. Register at Cincinnati.

Com tipsheetregistration Stocks, mutual funds and more: Cincinnati.Com is your local channel for realtime quotes and investing information. "Our goal is to connect with customers in between having their nails done and shopping at Nordstrom to talk through an idea," said Jason McSwain, the company's president. "It's a center that's more customer-oriented than sales-oriented." McSwain has spent 42 years building its legacy as a suburban flooring retailer, with showrooms in high-trafficked retail areas such as West By Laura Baverman lbavermanenquirer.com Flooring is as much about fashion as it is about function. That's the motivation behind a new McSwain Carpets Floors design center between Nordstrom Rack and Mitchell's Salon Day Spa in Norwood. The region's largest seller and installer of flooring opened the small store Aug.

13 between the two high-end spots in Rookwood The EnquirerAmie Dworeckl Jason McSwain, president of McSwain Carpets Floors, at the new showroom at Rookwood Pavilion in Norwood. Want to celebrate a promotion or job announcement? Do it yourself at Cincinnati.Com. Search: Share See MCSWAIN, Page B2.