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Back-to-School Costs Post Double-Digit Cost Increase
Wednesday, July 23, 2014COLUMBUS, Ohio -- The cost of equipping K-through 12 public school students for the 2014-2015 school year has jumped as much as 20% this year. That's one of the largest year-over-year increases in the eight-year history of the annual Huntington Backpack Index.
UCFC Earns $42.4 Million, Declares Cash Dividend
Wednesday, July 23, 2014YOUNGSTOWN, Ohio -- United Community Financial Corp., holding company of the Home Savings and Loan Co., Tuesday reported net income of $42.4 million for the quarter ended June 30, or 84 cents a share, and that its directors declared a penny per common share cash dividend.
The dividend is payable Aug. 15 to shareholders of record Aug. 1. It is the first cash dividend the company has declared since 2008.
F.N.B. Corp. Reports Record Quarterly Net Income
Wednesday, July 23, 2014PITTSBURGH -- F.N.B. Corp., parent of First National Bank of Pennsylvania, Tuesday reported second-quarter net income of $34.83 million, $32.82 million of which is available to holders of its common stock.
That translates to 20 cents per common share.
Girard CNG Station Officially Opens for Business
Wednesday, July 23, 2014GIRARD, Ohio -- James Bacon, a director at Bolt Construction Inc., Poland, says the development of compressed natural gas stations across Ohio stands to benefit his business in two ways.
First, more CNG fueling stations means that drivers operating trucks converted to run on CNG fuel will have more locations to fill up. Second, since Bolt Construction works in the oil and gas industry, the more natural gas that is used, the better for the company's customers and its overall business.
Youngstown Loans $2 Million for Wick Tower Project
Wednesday, July 23, 2014YOUNGSTOWN, Ohio -- NYO Property Group’s conversion of the Wick Building downtown into an apartment/extended stay property received city assistance Tuesday with approval of a development agreement that incentivizes completing the project this year.
'3 Minutes With' Scott White, President, IGS Energy
Wednesday, July 23, 2014GIRARD, Ohio – In today's “3 Minutes With,” Scott White, president of IGS Energy, discusses his company’s new compressed natural gas filing station here, its first in northern Ohio. A ribbon-cutting took place Tuesday. (READ STORY.)
"3 Minutes With" is a daily video feature produced by The Business Journal.
Mahoning Valley Unemployment Rates Rise in June
Wednesday, July 23, 2014YOUNGSTOWN, Ohio -- Local unemployment rates in June rose by half a percentage point or more compared to May, although declinen from jobless rates a year earlier, the Ohio Department of Job and Family Services reported Tuesday.
Warren saw its unemployment rate rise to 7.3% in June, up from 6.6% in May but down from 9.4% in June 2013. Youngstown’s June unemployment rate rose to 8.1% in June, up from 7.5% the month before, an improvement from 11.0% in June 2013.
Feds Say Owens Did Not Pay $570K in Payroll Taxes
Wednesday, July 23, 2014CLEVELAND -- David S. Owens, the owner of three businesses based in Canfield, is charged with one count of failure to account for and pay more than $570,000 in federal employment tax. The bill of information was announced Tuesday by Steven M. Dettelbach, United States attorney for the Northern District of Ohio.
Schwebel's Halts Production, Recalls Products Made Here
Tuesday, July 22, 2014YOUNGSTOWN, Ohio -- The Schwebel Baking Co. issued a statement shortly after 2 p.m. today announcing that "it has halted production at its Youngstown bakery and has initiated an assessment of a possible product quality issue.
As a precautionary measure, the company is voluntarily withdrawing any potentially affected products," the statement said.
"The issue involves the discovery of listeria following a scheduled environmental assessment of the Youngstown bakery," the company said.
Moliterno Expresses Interest in Port Authority Role
Tuesday, July 22, 2014YOUNGSTOWN, Ohio -- Businessman John Moliterno confirmed this morning that he would be interested in serving as executive director of the Western Reserve Port Authority on an interim basis, but anything beyond that would be too “preliminary” to discuss.
The Tribune-Chronicle reported Tuesday that the port authority’s board of directors could hire Moliterno, a former president of the Youngstown/Warren Regional Chamber and a past chairman of the port authority board, as executive director at its meeting tomorrow.