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Youngstown's Attempt to Acquire Phar-Mor Building Is Dead -- for Now
Wednesday, July 14, 2004By Dan O'BrienYOUNGSTOWN, Ohio -- An unidentified entity's offer to buy the virtually vacant Phar-Mor Centre is thwarting the city's plan to acquire that facility and attract new tenants to the central business district.Mahoning County Commissioner Vicki Allen Sherlock revealed at yesterday's meeting of the board of commissioners that the city's offer to purchase the mortgage on the building was rebuffed by the bank that controls the lead position on the loans.
Ohio Beefs Up Enforcement of Boater Education Law
Wednesday, July 14, 2004COLUMBUS, Ohio -- In an effort to reduce the number of accidents involving JetSki and Waverunner-type personal watercraft, the Ohio Department of Natural Resources plans to increase enforcement of the state's mandatory boater education law and rules that govern age restrictions for operating personal watercraft.
Adelphia Selects Advisers for Sale of Company
Wednesday, July 14, 2004GREENWOOD VILLAGE, Colo. -- Adelphia Communications Corp. has selected UBS Investment Bank LLC and Allen & Company LLC as its financial advisers and Sullivan & Cromwell LLP as its legal advisors for the sale of the company, which is operating currently under Chapter 11 protection of the bankruptcy code."The selection of these outstanding advisers paves the way for a robust and organized sale process," says Bill Schleyer, chairman and chief executive officer.
10 Strategies for Getting Meetings Off to a Good Start
Wednesday, July 14, 2004This article is new this week in The Business Journal's small business how-to section. To see what else is new, click here or click on the "how-to" tab at the top of The Daily Business Journal Online home page.A day in the life of every business person is made up of a series of meetings and greetings. Whether you are making the initial contact with a client or a colleague, you want to get off on the right foot. Doing so will make the first encounter and subsequent ones go smoothly and easily. Getting off on the wrong foot can make for a difficult recovery.
Visa Pushes for Higher Stake in 'New Affluent' Market
Wednesday, July 14, 2004SAN FRANCISCO -- Visa has launched a national advertising campaign targeting high-end consumers known as the "new affluent" segment.The segment is defined as individuals 35 to 54 with household incomes of $125,000 and higher who typically are employed as professionals and managers and lead busy, active lives. While this segment comprises only 7% of all U.S. households today, it accounts for 15% of U.S. spending.
Castlo Web Site Gets New Look
Wednesday, July 14, 2004STRUTHERS, Ohio -- Castlo Community Improvement Corp.'s Web site has been redesigned and revamped by Intergrow Ltd., Coraopolis, Pa., to update information about the 120-acre industrial park Castlo operates.Prominently displayed in the revamped Web site are photographs of the 120-acre Castlo Industrial Park located. The Web site also contains considerable information about the Mahoning River Corridor of Opportunity, one of Ohio's largest brownfield redevelopment sites.
Penn State Sets Base Tuition Increase at 6.6%
Wednesday, July 14, 2004UNIVERSITY PARK, Pa. -- Penn State will increase its base tuition by 6.6% for in-state students -- $306 per semester at University Park -- for the 2004-2005 academic year, with slightly lower percentage increases applied at other campuses and for out-of-state students.The tuition for out-of-state students, whose tuition is expected to cover the entire cost of education, will increase by 4.9%."We have taken great care to keep tuition increases this year to the minimum amount needed to maintain the quality of a Penn State education," says Penn State President Graham B. Spanier.
Timken Acquires SES Technical Group
Wednesday, July 14, 2004CANTON, Ohio -- The Timken Co. has acquired the assets of SES Technical Group, a division of SES LLC., as part of its strategy to offer a broader range of friction management productsand services, the company said.Terms of the acquisition were not disclosed.The assets of SES Technical Group were acquired by Timken Industrial Services LLC, a Timken subsidiary, and will become part of the Timken Industrial Services group.
Gas Price Regulation Could Drive Costs Higher
Wednesday, July 14, 2004FAYETTEVILLE, Ark. -- When gas prices go up, consumer groups often suggest that prices would fall if wholesale prices were the same at every gas station. But a University of Arkansas researcher found that uniform wholesale prices are more likely to increase the retail price of gas than reduce it.Cary Deck, assistant professor of economics in the Sam M. Walton College of Business, used experimental economics to research the effects of legislation on gas prices. Deck and Bart W.
Grand Opening Set at Lake Milton Commons
Wednesday, July 14, 2004LAKE MILTON, Ohio -- Grand opening of the new Lake Milton Commons will be held July 17 in conjunction with the annual Lake Milton Association's progressive party. Park Shores LLC recently purchased the 18 remaining condominiums at Lake Milton Commons from Sky Bank. JNV Construction of Lisbon has been managing the improvements including new exercise equipment at the clubhouse, a new entrance sign on brick pillars, and new landscaping on the 6-acre grounds. Park Shores LLC has also redecorated all the models in three different styles: contemporary, cottage, and lodge.