Model train maker Lionel LLC filed for Chapter 11 bankruptcy protection on Monday, citing a jury's ruling that it must pay a rival for misappropriating designs.
A U.S. District Court jury in Detroit ruled Oct. 4 that Lionel and others must pay $40.8 million to Mike's Train House.
Tyson Foods, which operates a plant in Buffalo, said its profit slid 55 percent in its fourth quarter. Tyson earned $66 million, or 19 cents a share, for the quarter ending Oct. 2, compared to $147 million, or 42 cents a share, for the same period a year ago. Sales for the quarter rose to $7.1 billion, from $6.6 billion.
The judge overseeing ATA's bankruptcy approved a $15.5 million state bailout of the nation's 10th largest airline Monday. The Indiana Transportation Finance Authority would borrow the money to buy equipment and other ATA assets and lease them to Indianapolis International Airport, which in turn would lease them back to ATA.
Automotive parts supplier Visteon Corp. said Monday it has offered buyouts to its 8,300 U.S. salaried workers. Payments will be 1.5 weeks of the worker's salary for every year of employment.