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Quaker Steak & Lube Names Lippert Its New CEO
Wednesday, April 30, 2014SHARON, Pa. -- Quaker Steak & Lube announced this morning that is has appointed a new CEO effective immediately. Greg Lippert, a 30-year industry veteran, has served as CEO of Mazzio's LLC since 2005.
Lippert replaces John Longstreet, who announced in January that he was stepping down as CEO. Frederal Dreibholz, chief financial officer, had served as interim CEO until Lippert’s appointment.
HMHP Introduces ‘Injectable’ Heart Monitor
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- Humility of Mary Health Partners today announced that it has introduced a tiny, injectable heart monitor that can record a patient’s heart rhythm for up to three years.
The new Reveal LINQ Insertable Cardiac Monitor was developed by Medtronic and received FDA approval for use in the United States in February. One-third the size of a AAA battery, it is the smallest heart monitor on the market and can automatically detect and record abnormal heart rhythms.
Industry Boosters Upbeat Despite BP Exiting Utica
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- Just because BP America is abandoning its interests in the Utica shale play doesn’t mean another company can’t make a go of it, an industry spokesman suggests.
“Absolutely,” responded Mike Chadsey, director of public relations for the Ohio Oil and Gas Association, when asked if BP’s Utica acreage would be attractive to another energy company.
Halcon's Lordstown Well Beats Oil Production Average
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- Halcon Energy Corp.’s Kibler well in Trumbull County is thus far the most productive oil well in the northern tier of the Utica shale, according to the latest data released by the Ohio Department of Natural Resources.
ODNR released production numbers April 25 for 352 horizontal wells drilled in the shale play that reported results during the fourth quarter of 2013. Another 45 wells reported no production because they await pipeline infrastructure.
BP to Market 105,000 Utica Acres It’s Abandoning
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- BP America is planning to sell off 105,000 leasehold acres it owns in the Mahoning Valley as part of its exit strategy in the Utica shale, a company spokesman says.
"Just because this play doesn't fit in our BP portfolio doesn't mean it's a busted play," said Curtis Thomas, BP Ohio's director of government and public affairs. "It doesn't mean that it's not a perfect play for another oil and gas operator."
Area Housing Sales Show Month-over-Month Gains
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- House sales during March were up from the month before in Mahoning, Trumbull and Columbiana counties, but dipped from the year before, according to the most recent report issued by the Youngstown Columbiana Association of Realtors.
Goodwill Gets Grants for Building Upgrades
Wednesday, April 30, 2014YOUNGSTOWN, Ohio -- Youngstown Area Goodwill Industries recently received $35,000 in grants to assist with building upgrades and renovations for its Belmont Avenue building, the nonprofit organization announced Tuesday.
The agency received $20,000 from the Youngstown Foundation, $10,000 from the J. Ford Crandall Memorial Foundation and $5,000 from the Home Savings Charitable Foundation. The funds will be used for renovations to the administrative, production and retail areas at the Belmont Avenue site.
Slippery Rock Grad Leaves Largest Legacy Gift
Wednesday, April 30, 2014SLIPPERY ROCK, Pa. - Jeanne Powell Furrie, a 1945 Slippery Rock University physical education graduate and longtime university benefactor, has bequeathed $735,000 to the university to date as part of her estate. It is the largest legacy gift in the history of the university.
Furrie, of Monroeville, Pa., died April 14, 2013, at age 89.
Parker Nets $242.5 Million for Quarter
Wednesday, April 30, 2014CLEVELAND -- Parker Hannifin Corp. reports 2014 third- quarter net income of $242.5 million, or $1.60 per diluted share. This compares with net income of $256.6 million, or $1.68 per diluted share, for the third quarter of 2013.
Sales increased 2% to $3.36 billion compared with the third quarter a year ago. Adjusting for a previously announced joint venture, fiscal 2014 third-quarter sales increased 3%%.
Retirees Fear Outliving their Savings
Wednesday, April 30, 2014PITTSBURGH -- Retirees are worried that they'll outlive their money, a survey conducted for PNC Bank finds. Some 52% have withdrawn funds from retirement savings without a strategy in place, and 53% are concerned about running out.
Of those drawing down from their investments, 59% say the money is to cover expenses, according to PNC's semi-annual Perspectives of Retirement survey.