Construction Rises 6% across US During July
Monday, August 25, 2014NEW YORK -- New construction starts in July climbed 6% to a seasonally adjusted annual rate of $588.8 billion, McGraw Hill Construction reports.
Nonresidential building continued to advance, supported by yet another robust month for manufacturing plant projects as well as an improving market for commercial building.
Labor Day Travel to be Highest Since Recession
Monday, August 25, 2014ORLANDO, Fla. -- AAA Travel projects that 34.7 million Americans will travel 50 miles or more from home during the Labor Day holiday weekend, the highest number for the holiday since 2008 and a 1.3% increase over 2013.
Nearly 86% of travelers, 29.7 million, will celebrate the holiday with a final road trip as summer comes to a close and children head back to school.
The Labor Day holiday travel period is defined as Aug. 28 to Sept. 1.
Highlights from the AAA's 2014 Labor Day travel forecast:
Private Equity Firm Takes Majority Stake in Hynes
Saturday, August 23, 2014YOUNGSTOWN, Ohio -- The majority interest in Hynes Industries is now owned by Resilience Capital Partners, a Cleveland private equity firm that since its founding in 2001 has invested in 40 companies under 23 platforms.
The Bresnahan family will retain a minority stake in the company, according to the announcement from the private equity firm. Terms of its investment were not disclosed.
ITC Determines 6 Countries Dumped OCTG
Saturday, August 23, 2014WASHINGTON -- The U.S. Department of Commerce will impose countervailing duty orders and antidumping orders on imports of certain oil country tubular goods from six countries, including Korea, following a ruling by the U.S. International Trade Commission.
Golden String Inc. Opens Restaurant in Oakhill Place
Friday, August 22, 2014YOUNGSTOWN, Ohio -- When Golden String Inc. was approached about opening a restaurant in Oakhill Renaissance Place, the organization showed no hesitation in answering with a resounding “Yes!”
Named for Joe Gallagher, the group's first client who died several years ago, the organization will officially open Gallagher's Lunch Bucket Monday.
Blue Racer’s Petersburg Project Moves Forward
Friday, August 22, 2014YOUNGSTOWN, Ohio -- Blue Racer Midstream LLC’s plans to construct a multi-million-dollar processing plant in southeastern Mahoning County appear to be back on track, according to documents obtained by The Business Journal.
A Capital PEC Report published by Industrial Info Resources Inc., based in Sugar Land, Texas, shows that Blue Racer would like to begin construction on a $70 million natural gas processing plant just outside Petersburg in Springfield Township by September 2015.
What’s Being Built Behind Residence Inn at Eastwood?
Friday, August 22, 2014NILES, Ohio -- A spokesman for the Cafaro Co. would not confirm that a building taking shape at its Eastwood Mall Complex would house the new headquarters for the commercial real estate developer. Nor would he say what the building would instead house.
OBA Shareholders Vote to Join F.N.B. Corp.
Friday, August 22, 2014PITTSBURGH -- Shareholders of OBA Financial Services Inc., based in Germantown, Md., voted to become part of F.N.B. Corp., the companies announced Thursday.
Expected closing date is Sept. 19. All regulatory issues were completed July 29, F.N.B. said.
OBA is the parent of OBA Bank, founded in 1861, which has assets of $381.6 million and six offices in eastern Maryland. It has 63 full-time and nine part-time employees.
'3 Minutes With' Joe Bell, Cafaro Co. Spokesman, and Matt Boarts, Eastwood Mall Property Manager
Friday, August 22, 2014YOUNGSTOWN, Ohio -- In today's “3 Minutes With” segment, Joe Bell, director of corporate communications for the Cafaro Co., and Matt Boarts, property manager for the Eastwood Mall, discuss new construction happening at the mall property, including whether the Cafaro Co. will relocate its headquarters there, and the impact of the new Residence Inn by Marriott on the mall and its tenants.