January Home Sales Up in Valley from 2012 Results
Friday, February 22, 2013YOUNGSTOWN, Ohio – Home sales in Mahoning, Trumbull and Columbiana counties during January improved from a year earlier, but all three counties experienced a drop from their December numbers, according to the newly released monthly report from the Youngstown Columbiana Association of Realtors. A combined 287 units were sold in January, reflecting a modest improvement from the 266 sold in January 2012, although down from the 352 sold in December.
Sherwin-Williams Disputes DOL Charge in Settlement
Friday, February 22, 2013CLEVELAND – The Sherwin-Williams Co. disputed the U.S. Department of Labor's allegation that participants in its employee stock ownership plan sustained any losses resulting from transactions related to the ESOP, The company dismissed the department's claims as "without merit" in a new release announcing the $80 million settlement it reached following nine months of negotiations.
The settlement resulted in an after-tax charge to earnings of $49.2 million to the company for the fourth quarter and year ended Dec. 31, 2012.
The company's news release follows:
Nationwide Reargues $42.8M Case It Lost
Friday, February 22, 2013YOUNGSTOWN, Ohio -- In post-trial motions heard Wednesday and Thursday, the lead attorney for Nationwide Mutual Insurance Co., Quintin F. Lindsmith, insisted that if Christine Lucarell of Boardman hadn’t perjured herself, she never would have won the $42.8 million verdict rendered last November.
Lindsmith also asked visiting Common Pleas Court Judge Thomas J. Pokorny of Cuyahoga County to find that one of three expert witnesses, Shelly Aasserud, who testified in Lucarell’s behalf, also committed perjury and that Aasserud did not qualify as an expert witness.
Chesapeake Reports Promise of New Utica Results
Friday, February 22, 2013YOUNGSTOWN, Ohio – Oklahoma City-based Chesapeake Energy Corp. said Thursday that its drilling operations in eastern Ohio's Utica shale continue to show promise in what the company calls the core of the play, although production was hampered last year for want of pipeline infrastructure.
However, the latest results from Chesapeake's Utica wells are dwarfed by some of the production numbers delivered last year by competitor Gulfport Energy Corp., which has also staked out a position in what is emerging as the most lucrative part of the play.
City's Business Leaders Launch Downtown Association
Friday, February 22, 2013YOUNGSTOWN, Ohio – Organizers of a new group formed to promote the interest of the city’s resurgent central business district say their aim isn’t to point fingers but to work with city government to boost downtown.
The misconception exists that the city is responsible for everything, said Richard Hahn, president of Keynote Media Group and a member of the steering committee for the newly formed Downtown Business Alliance of Youngstown, or DBAY. “”It’s our job to do our part to help city government help us,” he remarked.
'3 Minutes With' Hunter Morrison, Vibrant NEO
Friday, February 22, 2013YOUNGSTOWN, Ohio -- In today's "3 Minutes With" video, Hunter Morrison of the NEO Sustainable Communities Consortium discusses Vibrant NEO 2040, a regional planning process involving individuals and government entities from the 12-county northeastern Ohio region. Morrison outlined the regional planning initiative, intended to prepare a framework for the future of the region, at Thursday’s meeting of the Mahoning County Commissioners.
YSU to Award TV Star Ed O'Neill an Honorary Degree
Friday, February 22, 2013YOUNGSTOWN, Ohio -- Youngstown native and television star Ed O’Neill, in the hit show “Modern Family,” will receive an honorary Doctor of Arts degree May 18 during the undergraduate spring commencement of Youngstown State University.
YSU President Cynthia E. Anderson, who retires June 30, will speak at the graduate commencement at 2:30 that afternoon. Some 200 masters’ degrees and doctorates will be conferred.
First National Bank Wins Greenwich Banking Awards
Friday, February 22, 2013HERMITAGE, PA. – First National Bank of Pennsylvania has won two 2012 Greenwich Excellence in Banking awards, the bank announced Thursday.
The bank was recognized as “National Winner for Overall Client Satisfaction” in small-business banking and in middle-market banking in two categories, “overall satisfaction in the Northeast” and “overall satisfaction in the Northeast for treasury management.”
In 2011, First National Bank won six Greenwich Excellence in Banking awards.
Sherwin-Williams Plan Employees Awarded $80M
Friday, February 22, 2013WASHINGTON -- The U.S. Department of Labor has reached a settlement with the Cleveland-based Sherwin-Williams Co. that will provide $80 million to current and past participants of its Employee Stock Purchase and Savings Plan. The agreement is the result of an investigation by the department’s Employee Benefits Security Administration.