Chevron Secures 2nd Permit, Chesapeake Gets 10 More
Friday, October 26, 2012YOUNGSTOWN, Ohio – Oil giant Chevron has been issued a new permit to drill its second horizontal well in Mercer County, Pa., the Pennsylvania Department of Environmental Protection reports.
Chevron Appalachia LLC was awarded the permit Oct. 15, records show, for drilling rights to the Hurtt property in East Lackawannock Township, records show.
There were no new permits issued for new wells in Lawrence County, Pa.
Foreclosoures Drop in Valley, Deliquencies Rise
Friday, October 26, 2012IRVINE, Calif. -- Foreclosure rates in Youngstown-Warren-Boardman area were lower in August than the same month last year, according to newly released data from CoreLogic. Local foreclosures among outstanding mortgage loans was 4.61%, a decrease of 0.08% compared to August of 2011.
Foreclosure activity in Youngstown-Warren-Boardman remains higher than the national rate, which was 3.35% in August.
Meanwhile, the mortgage delinquency rate for the area increased. August data show that 8.28% of mortgage loans were 90 days or more past due compared to 8.18% for August 2011.
Cortland Bancorp Reinstates Cash Dividend of 3¢
Friday, October 26, 2012CORTLAND, Ohio – The directors of Cortland Bancorp, parent of Cortland Banks, have approved the reinstatement of a cash dividend of 3 cents per share payable Nov. 26 to shareholders of record Nov. 5, the company announced Thursday.
Middlefield Bank Reports Net Income of $1.85M
Friday, October 26, 2012MIDDLEFIELD, Ohio -- Middlefield Banc Corp., parent of The Middlefield Banking Co. and Emerald Bank, reported third-quarter net income of $1.85 million, or 93 cents per diluted share. Net income for the same quarter of 2011 was $1.08 million, or 63 cents per diluted share.
Returns on average equity (annualized) was 16.57% and return on average assets (annualized) was 1.12%.
Middlefield Bank has an office in Cortland.
PNC Survey Finds Rich Better Off Than 4 Years Ago
Friday, October 26, 2012PITTSBURGH – A survey of affluent investors by PNC Wealth Management found that “they are feeling more optimistic than they have been in a few years.
The results of the seventh annual survey of affluent investors, released Thursday, reported, “A key driver of that optimism is: 52% report that their net worth has grown at least 20% since 2007” when the Great Recession took root.
'3 Minutes With' Pat Rosenthal, Common Wealth Inc.
Friday, October 26, 2012YOUNGSTOWN, Ohio -- In today's "3 Minutes With" video, Pat Rosenthal, executive director of Common Wealth Inc., discusses the kitchen incubator her organization is developing. The incubator will provide a space for food-based microenterprises to prepare products for sale, with the objectives of creating jobs and shortening the miles between where food is raised and where it’s eaten. A sneak-peak event was held Wednesday.
Portman Commentary: Be Fair to Delphi Retirees
Friday, October 26, 2012WASHINGTON -- Every American is supposed to get a fair shake from the federal government. The government works for us, after all. Every citizen should be treated fairly without regard to associations, connections, status or political party.
Sadly, however, the shadow of unfair treatment hangs over what happened to the hard-working salaried retirees of the auto parts company Delphi as part of the bailout of its former parent General Motors. And the White House is doing nothing to help, not even letting them know what really happened -- and why.
City Extends Naming Rights Deal on Covelli Centre
Friday, October 26, 2012YOUNGSTOWN, Ohio – Mayor Chuck Sammarone said Thursday he is pleased with a deal that nets the city an additional $55,000 over the year for naming rights for the Covelli Centre, but the city is still moving forward with an assessment of arena operations and the possible sale of the building.
The city Board of Control, which Sammarone chairs, approved the one-year extension of the current naming rights agreement between JAC Enterprises, the management company hired by the city to operate the arena, and Warren-based restaurant operator Covelli Enterprises.
Covelli Centre Confirmed for Obama, Clinton Stop
Thursday, October 25, 2012YOUNGSTOWN, Ohio -- The Covelli Centre downtown will be the site of President Obama and former President Bill Clinton's visit Monday to the Mahoning Valley, the campaign has confirmed. Tickets will be available, one per person, on a first-come basis, beginning at noon Friday at the Covelli Centre box office downtown, 229 E. Front St.
Tickets can also be picked up at the below locations starting at 1 p.m. tomorrow at these locations:
Obama for America-OH Warren Field Office, 155 S. Park Ave., Warren 44481
Warren;