Item 8.01. Other Events.

On November 24, 2008, the Board of Directors of Hawk Corporation approved a stock repurchase plan and authorized the Company to repurchase up to $15.0 million of its common stock subject to the Company remaining in compliance with its indenture and credit facility. Under the program the shares can be purchased from time to time in the open market, through privately negotiated transactions, a trading plan satisfying the safe harbor provisions of 10b5-1and Rule 10b-18 under the Securities and Exchange Act of 1934, a combination of the foregoing, or otherwise in accordance with security laws and regulations.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits:

99.1 Hawk Corporation Press Release dated November 24, 2008