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Bankrate Reports Mortgage Rates Go Above 6% in Wake of Greenspan's Testimony
Friday, April 23, 2004NEW YORK -- Mortgage rates rose for the fifth consecutive week, moving above 6% the first time since the week of Dec. 3, 2003. The average 30-year fixed rate mortgage increased to 6.06% from 5.97%, according to Bankrate.com's weekly national survey of large lenders. The mortgages in this week's survey had an average of 0.38 discount and origination points. In the past five weeks, the average 30-year fixed rate mortgage has risen to 6.06% from 5.41%.The 15-year fixed rate mortgage, popular among those refinancing their residences, climbed to 5.37% from 5.31%.
"Lane Expands with Family Center, Acquisition"
Thursday, April 22, 2004"CANFIELD, Ohio -- Lane Funeral Homes is expanding its local offerings with the opening of a new family center and the acquisition of a Brookfield funeral home. Lane recently opened the family center at its Canfield location, 65 N. Broad St. on the Village Green. The 2,900-square-foot area is designed for post-funeral receptions or luncheons, or other special occasions such as a meetings or seminars. The center, which offers a serving area and facilities to support catered food and refreshments, can accommodate up to 60 people.
"MoveOn PAC Announces Unprecedented Plan to Raise $50 Million From 500,000 Donors to Defeat Bush"
Thursday, April 22, 2004"WASHINGTON -- MoveOn PAC announced today an unprecedented campaign to raise $50 million to defeat President Bush and elect progressive candidates.
Port Authority Explores New Master Plan for Airport
Thursday, April 22, 2004By Dan O'BrienVIENNA, Ohio -- With the restoration of regular passenger service from the Youngstown-Warren Regional Airport, the Western Reserve Port Authority is contemplating developing a new master plan that puts greater emphasis on general aviation services.Airport director Steve Bowser reported to the board Wednesday that he, authority member Michael Harshman and representatives from the engineering firm R.W.
State Senator Urges Investigation of MCI Tax Strategies
Thursday, April 22, 2004COLUMBUS -- State Sen. Marc Dann, D-Liberty Township, sent letters yesterday to Attorney General Jim Petro and Tax Commissioner William Wilkins requesting their agencies complete an evaluation of MCI WorldCom Inc.'s tax policies. An article from the April 2004 edition of Governing Magazine alleging the company practiced fraudulent tax strategies prompted Senator Dann's request. "It is bad enough that this company accepted state economic development assistance and used our taxpayers' money to train workers in the Philippines," Dann said.
Healthier Economy Bodes Well for Housing Industry, Analysts Say"
Thursday, April 22, 2004WASHINGTON -- Housing analysts at the National Association of Home Builders' Construction Forecast Conference yesterday said that even if the Federal Reserve Board begins raising interest rates, the housing industry is moving into a healthier economic environment where job growth and income gains will keep residential construction and sales at healthy levels and buoy house values as well.NAHB Chief Economist David Seiders expects that the federal funds rate, which is currently 1%, will begin to rise in August and increase gradually to about 3% by the end of 2005.
Changing of the Guard at 910th Airlift Wing
Thursday, April 22, 2004VIENNA TOWNSHIP, Ohio -- The commander of a C-130 airlift wing in Eastern Pennsylvania has been named to assume command of the 910th Airlift Wing at the Youngstown Air Reserve Station here.Col. Timothy J. Thomson will replace Brig. Gen. Michael F. Gjede, who is retiring after 35 years of service in the Air Force Reserve. The transition will take place June 20 during a change of command and retirement ceremony at the base. Thomson is the commander of the 913th Airlift Wing at the Willow Grove Air Reserve Station in Pennsylvania.
Hybrid Vehicle Registrations Increase 25.8% in 2003
Thursday, April 22, 2004SOUTHFIELD, Mich., -- Nationwide registrations for hybrid vehicles rose to 43,435 in 2003, according to R. L. Polk & Co. The Honda Civic hybrid accounted for 50% of all registrations with a total of 21,750. Toyota Prius reached 20,387 registrations amounting to 47% of the market share. Honda Insight accounted for the remaining three percent, with 1,298 total registrations."People are buying hybrids because of mileage benefits and environmental concerns.
Timken Announces Record First Quarter Sales
Thursday, April 22, 2004CANTON, Ohio -- The Timken Company today reported record sales of $1.1 billion for the first quarter of 2004, an increase of 31 percent from the prior year. Adjusted to include pro forma results for Torrington for the full first quarter of 2003, sales were up 11 percent. Sales were higher across all three business groups, Automotive, Industrial and Steel, compared to the first quarter of 2003. Timken completed its $840 million strategic acquisition of The Torrington Company on Feb. 18, 2003.Timken reported $0.32 per diluted share, more than double the $0.15 per diluted share from a year ago.
Penn State Unveils 'Sound' Refrigeration Tech
Thursday, April 22, 2004UNIVERSITY PARK, Pa. -- Penn State acousticians put their new prototype for a compact chiller, based on "green" technology that substitutes sound waves for environment-damaging chemical refrigerants, on first public display in conjunction with Earth Day in New York City.The roll-out took place at a Ben & Jerry's scoop shop in New York City where the chiller was hooked up to a standard ice cream sales freezer cabinet and successfully kept the merchandise in good condition.