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Consumers Shower Love on Their Valentines But Watch Budgets
Friday, February 07, 2014WASHINGTON -- On the heels of a healthy yet modest holiday shopping season, consumers remain cautious and not quite ready to splurge on Valentine’s Day this year, the National Retail Federation finds. On average, per-person spending on candy, cards, gifts, dinner and more will be $133.91, up slightly from $130.97 last year.
Total spending is expected to reach $17.3 billion and 54% of Americans will celebrate with their loved ones this year, the federation says.
Stoneridge Lowers Expected 2013 Earnings
Friday, February 07, 2014WARREN, Ohio -- Sales and earnings at Stoneridge Inc. for the year ended Dec. 31, 2013, will be below previous guidance, the company advised Thursday. Sales are expected to be in the range of $945 million to $950 million compared with previously projected sales in the range of $939 million to $974 million.
Earnings per share have been revised to a range of 55 to 60 cents versus the 75 to 95 cents projected last October.
Ohio Tax Lien Program Recovers Nearly $11M
Friday, February 07, 2014COLUMBUS, Ohio -- An agent tax lien program has collected or set up payment plans for nearly $11 million in unpaid income tax, sales tax and workers compensation premium payments for the Ohio Department of Insurance, Lt. Gov. Mary Taylor reports. To date, the tax lien program has either collected or set up payment plans with agents for amounts totaling $10,831,363.
Taylor, who introduced the program in May 2011, also serves as director of the state insurance department.
GM Reports 2013 Net Income of $3.8 Billion
Thursday, February 06, 2014DETROIT -- General Motors Co. today reported 2013 net income of $3.8 billion, or $2.38 per fully diluted share, down from $4.9 billion, or $2.92 per fully diluted share in 2012. Operating performance improved during the year, but was more than offset by a net loss from special items and incremental tax expense, the company said.
The 2013 financial results represent the fourth consecutive years of profits, GM emphasized.
Manchester Bennett Merges with Newman Olson Kerr
Thursday, February 06, 2014YOUNGSTOWN, Ohio -- Two prominent downtown law firms, Manchester, Bennett, Powers & Ullman and Newman, Olson & Kerr, combined their practices effective last Saturday, they announced late Wednesday. The 20 lawyers are practicing under the name of Manchester, Newman & Bennett.
Three will relocate to 3635 Boardman-Canfield Road, Canfield, to open an office there March 1, Stephen Bolton said Wednesday. Newman, Olson & Kerr’s office on Broad Street in Canfield will remain open until that date.
CHS Pledges $75M to Upgrade Sharon Regional
Thursday, February 06, 2014SHARON, Pa. -- Community Health Systems pledges to invest “a minimum of $75 million” over five years at its newly acquired Sharon Regional Health System, reports the board of directors of Sharon Regional. Acquisition of the health system by Tennessee-based CHS was announced Wednesday. Terms of the asset purchase agreement were not disclosed.
Covelli Tells His Company's Story to Warren Rotary
Thursday, February 06, 2014WARREN, Ohio -- Businessman Sam Covelli says his company is prepared for the impact of the Affordable Care Act, although he expressed his doubts about the effectiveness of the law.
Ryan Questions CBO Director on ACA Findings
Thursday, February 06, 2014YOUNGSTOWN, Ohio -- U.S. Rep. Tim Ryan, D-13 Ohio, pushed back strongly Wednesday on Republicans’ characterization (READ STORY) of a new report from the Congressional Budget Office that predicted the Affordable Care Act would cost the nation 2.5 million full-time jobs.
'3 Minutes With' Eric Ryan, President, JAC Management Group
Thursday, February 06, 2014YOUNGSTOWN, Ohio -- In today's "3 Minutes With,” Eric Ryan, president of JAC Management Group, which manages the Covelli Centre, discusses the financial progress the arena has made over the past six years, including the additional revenues realized by bringing food and beverage sales in house, and booking acts such as Elton John. The city-owned arena posted an operational profit of $348,821 for 2013, the most profitable year in its eight-year history (READ STORY).
Auto Ads During Super Bowl Win Car Shoppers
Thursday, February 06, 2014ATLANTA -- Automakers spent millions on ads during Super Bowl XLVIII to grab the attention of car shoppers. And, based on search activity on AutoTrader.com, the expense more than paid for itself.