'3 Minutes With' Dr. Mark Sniderman, Cleveland Fed
Friday, February 08, 2013BOARDMAN, Ohio -- In today's "3 Minutes With" video, Dr. Mark Sniderman, executive vice president and chief policy officer at the Federal Reserve Bank of Cleveland, discusses factors influencing the Mahoning Valley economy and prospects for reducing the unemployment rate. Sniderman was the featured speaker at the Youngstown/Warren Regional Chamber’s annual economic forecast breakfast (READ STORY).
Beer Distributors Contribute $1.6B to Ohio Economy
Friday, February 08, 2013ALEXANDRIA, Va. -- Beer distributors in Ohio retain 4,527 direct jobs and have $1.6 billion in economic impact, finds a report just released by the National Beer Wholesalers Association. When the effects of Ohio distributor operations, capital investment and community involvement are considered, the number of jobs affected is nearly 12,000.
Despite Uncertainties, Stoneridge Sees Gains in 2013
Friday, February 08, 2013WARREN, Ohio -- Stoneridge Inc. projects its sales this year will range somewhere between $939 million and $974 million and earnings per share somewhere between 75 and 95 cents.
For the fourth quarter, the company expects continued improvement over the second and third quarters.
John C. Corey, president and CEO, said more details will be presented during a conference call March 1.
Ryan to Co-Chair Delphi Salaried Retirees Task Force
Friday, February 08, 2013WASHINGTON -- U.S. Rep. Tim Ryan will co-chair a new task force to look into issues related to the termination of the pensions of Delphi salaried retirees.
Ryan, D-13 Ohio, and U.S. Rep. Mike Turner, R-10 Ohio, will serve as co-chairmen of the Congressional Auto Industry Pension Task Force, "an informal group of members dedicated to issues related to the termination of Delphi salaried retiree pensions and educating other members on the subject," the congressmen announced in a joint news release.
Ohio Shuts Down Lupo's D&L, Hardrock Excavating
Thursday, February 07, 2013YOUNGSTOWN, Ohio -- The Ohio Department of Natural Resources confirmed minutes ago that it has permanently revoked all operating permits for D&L Energy Group and Hardrock Excavating, both located at 2761 Salt Springs Road, and owned by Ben Lupo. The revocations came after employees were observed dumping oilfield waste into a storm sewer that emptied into the Mahoning River watershed.
Breaking News: ODNR Revokes D&L's Well Permits
Thursday, February 07, 2013YOUNGSTOWN, Ohio -- The Ohio Department of Natural Resources has revoked all of D&L Energy Group's permits to operate brine water injection wells in the state. The owner of the company, Ben Lupo, was notified of the revocation Wednesday. According to D&L's spokesman, a statement will be issued later today.
Petitions Filed for Citizen's Bill of Fracking Rights
Thursday, February 07, 2013YOUNGSTOWN, Ohio – As workers moved into their third day of cleanup at a Mahoning River tributary contaminated because of intentionally dumped brine water and mud from oil and gas drilling operations, activists opposed to the industry delivered what they believe is a clear message to City Hall.
"We have the right to drink our water unpolluted," declared Lynn Anderson, a member of FrackFree Mahoning Valley, a group that opposes the practice of hydraulic fracturing. "We have the right to survive."
Aqua Subsidiary Weighs Paying $3M for Y&S Railroad
Thursday, February 07, 2013EAST LIVERPOOL, Ohio – Aqua Infrastructure LLC, a subsidiary of Aqua America Inc., expects to pay the Columbiana County Port Authority $3 million for the Youngstown & Southern Railroad when it completes its due diligence, a process that should be complete by June 30.
Aqua Infrastructure has agreed to put down a $50,000 refundable deposit in its nonbinding letter of intent. The purchase assumes no surprises that would cause Aqua to back out. It is aware of the environmental concerns the last potential buyer expressed before it backed out.
Permits Issued for Trumbull, Columbiana Counties
Thursday, February 07, 2013YOUNGSTOWN, Ohio – The Ohio Department of Natural Resources has issued a new horizontal drilling permit to Halcon Resources Inc. for a well in Lordstown Township in Trumbull County, according to records.
The permit was issued on Feb. 2 and well would be located on the Kibler property, ODNR reported.
The Kibler well is the second horizontal well under development by Halcon. The company is drilling a new well in Hartford Township along Hayes-Orangeville Road.
YSU Foundation Surpasses $200 Million in Assets
Thursday, February 07, 2013YOUNGSTOWN, Ohio -- The Youngstown State University Foundation has surpassed the $200 million mark in assets and is now among the top third of university endowments in the nation, YSU reported Wednesday.
The foundation reported $207 million in assets in fiscal year 2012, according to the annual endowment survey by the National Association of College and University Business Officers and the Commonfund Institute.