KeyCorp to Sell Victory Capital, Affiliate for $246M
Friday, February 22, 2013CLEVELAND -- KeyCorp has agreed to sell its investment management subsidiary Victory Capital Management and its broker dealer affiliate Victory Capital Advisers to a private equity fund sponsored by Crestview Partners of New York City for $246 million. Key intends to seek regulatory approval to use the gain from the sale to repurchase shares of its common stock.
Four-County Region Earns B+ Grade for Logistics
Thursday, February 21, 2013BOARDMAN, Ohio – The four-county region that includes the Mahoning Valley earns a B+ for logistics, a grade that could be brought up by addressing certain workforce issues, a consultant says.
Electrical Companies, Workers Wired for Robust Year
Thursday, February 21, 2013YOUNGSTOWN, Ohio -- The two locals of the International Brotherhood of Electrical Workers and their partner contractors are wired to some of the largest projects in the Mahoning Valley, and the pace of these projects doesn’t appear to be letting up anytime soon, especially in Mahoning County, officials say.
“We’ve had full employment since the fall of 2011,” reports Jim Burgham, business manager of IBEW Local 64 in Youngstown. “We’ve seen improvements in all aspects of work – remodeling of existing buildings, store construction, as well as additional projects.”
'3 Minutes With' Bob Fredman, SF Global Insights
Thursday, February 21, 2013BOARDMAN, Ohio -- In today's "3 Minutes With" video, Bob Fredman, principal with SF Global Insights, New Albany, discusses the logistics survey his firm conducted among companies in Ashtabula, Mahoning, Trumbull and Columbiana counties. He outlined the results of the study at a Youngstown/Warren Regional Chamber program (READ STORY).
F.N.B. Declares 12 Cents Dividend on Common Stock
Thursday, February 21, 2013HERMITAGE, Pa. -- F.N.B. Corporation announced Wednesday that its board of directors has declared a quarterly cash dividend of 12 cents per share on F.N.B.'s common stock. The dividend is payable on March 15 to shareholders of record as of the close of business on March 4.
YSU English Festival Launches Fundraising Campaign
Thursday, February 21, 2013YOUNGSTOWN, Ohio -- The Youngstown State University English Festival, in its 35th year, will welcome its 100,000th student this spring. The milestone is being marked with a $100,000 fundraising campaign.
“This year, on our 35th anniversary, we really want to reconnect with the thousands of students and teachers who have been touched by the English Festival -- not only to ask them to consider making a donation, but also to share with us their memories,” said Gary Salvner, festival co-chairman with Jeff Buchanan.
2012 Sets Record New Business Filings in Ohio
Thursday, February 21, 2013COLUMBUS, Ohio – The number of new companies that filed in Ohio in 2012 set a record for the state, based on data available. In total, 88,068 new entities filed to do business last year -- the most in the 209-year history of the state.
“More companies choosing to do business in our state helps grow our economy and increases job prospects for people across Ohio,” said Secretary of State John Husted.
Husted also noted that more than 2.1 million new businesses have filed with the state since Ohio wasadmitted to the union in 1803.
Sales of New Cars to Remain Strong, Steady
Thursday, February 21, 2013IRVINE, Calif. -- New-vehicle sales are expected to grow nearly 6% in 2013 to 15.3 million units overall. This would break the three-year trend of double-digit sales growth since 2010.
Chesapeake Internal Review Clears McClendon, Company
Wednesday, February 20, 2013OKLAHOMA CITY -- Chesapeake Energy Corp. today announced that its internal review of the dealings of the company’s co-founder and CEO, Aubrey K. McClendon, did not find any “intentional misconduct.” Nor did the company violate antitrust laws in regard to the 2010 acquisition oil and gas rights in Michigan, Chesapeake said.
Here is unedited text from Chesapeake’s news release:
FNB to Acquire PVF Capital, Enter Cleveland Market
Wednesday, February 20, 2013HERMITAGE, Pa. -- F.N.B. Corp., parent of First National Bank of Pennsylvania, has reached an agreement with PVF Capital Corp., parent of Park View Federal Savings Bank, to acquire the Solon, Ohio-based holding company in an all-stock transaction valued at $106.4 million.
F.N.B. and PVF Capital announced their union Tuesday.
The transaction is valued at $3.98 per PVF share using the 20-day trailing stock price of F.N.B. Corp. as of last Friday.