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Trumbull County Man Guilty of Workers' Comp Fraud
Monday, April 19, 2004COLUMBUS, Ohio -- Michael Avey of Girard, Ohio, has been sentenced for committing workers' compensation fraud, James Conrad, administrator and chief executive officer of the Ohio Bureau of Workers' Compensation, reported today.Avey was sentenced to one year of probation, court costs and restitution to BWC. His case was heard in the Trumbull County Court of Common Pleas.BWC's special investigations unit was notified through a computer cross match with the Ohio Department of Jobs and Family Services that Avey was working while receiving benefits.
KeyCorp Reports First Quarter Net Income of $250 Million
Monday, April 19, 2004CLEVELAND -- KeyCorp recently reported first quarter net income of $250 million, or 59 cents per diluted common share. These results compare with net income of $217 million, or 51 cents per share, for the first quarter of 2003."Relative to the year-ago quarter, revenue grew, expenses were stable and asset quality improved significantly," says Chairman and Chief Executive Officer Henry L. Meyer III. "We are particularly pleased with the improved performance of Key's market-sensitive businesses, including trust and investment services, and principal investing.
Administrative Professionals Feel Their Work is Appreciated
Monday, April 19, 2004LINCOLNSHIRE, Ill. -- More than one half (53%) of America's hard-working secretaries and administrative assistants expect to be thanked or recognized during Administrative Professionals Week April 19 to 23, according to a survey by Quill Corp. Being treated to a meal out is the most expected form of recognition (40%), but receiving a gift certificate or cash is actually the gift 55% of respondents would prefer.The Quill survey also asked administrative professionals whether they feel appreciated by their office colleagues. An overwhelming 83% say they do feel appreciated for their work.
Farmers National Banc Nets $2.3 Million
Monday, April 19, 2004CANFIELD, Ohio -- Farmers National Banc Corp, the parent holding company of Farmers National Bank, today reported first quarter 2004 net income of $2.3 million.
Beaver County Projects Get State Funding
Monday, April 19, 2004BEAVER FALLS, Pa. -- Governor Edward G. Rendell today visited Beaver County to sign legislation implementing his job-creating economic stimulus package. The governor also presented the Corporation for Owner-Operator Projects with $1 million in funds provided through the Redevelopment Assistance Capital Program, which helps rejuvenate Pennsylvania's downtown areas, and announced economic-development funding for two Beaver County companies.The $1 million awarded to CO-OP will be used to expand its business incubator and professional business services to a new facility.
"GM, Ford to Build New Front-Wheel-Drive Transmission"
Sunday, April 18, 2004"DETROIT -- Ford Motor Co. and General Motors Corp., two of the world's largest automakers, today jointly announced a $720 million investment in their plants to build an all-new, fuel-saving, 6-speed front-wheel-drive automatic transmission. More than 1,100 jobs will be retained as a result.The transmission, initially announced in October 2002, will be jointly designed, engineered and tested by the automakers.
Weirton Steel Plans to Recommend Sale to ISG
Friday, April 16, 2004WEIRTON, W.Va. -- Weirton Steel Corp. yesterday announced it will recommend to a bankruptcy judge on Tuesday to approve the sale of the company's assets to Cleveland-based International Steel Group Inc."After a long and detailed examination of both bids for our assets, we decided that ISG has the highest and best bid that complies with applicable legal standards for submission to the court for the approval of the sale," said D. Leonard Wise, Weirton Steel chief executive."At this time, we will not discuss the details of the two bids.
Delphi Reports Increased First Quarter Income
Friday, April 16, 2004TROY, Mich. -- Delphi Corp. increased its non-General Motors business in the first quarter of 2004 by 43 percent over its income for the same period last year.Delphi today reported first quarter 2004 revenues of $7.4 billion, up from $7.2 billion for the same period in 2003. Non-GM revenues were $3.2 billion, up 23 percent from first quarter 2003. GAAP net income for the quarter was $54 million, or $0.10 per share.
EPA: Mahoning Valley Fails New Ozone Standards
Friday, April 16, 2004CHICAGO -- U.S. Environmental Protection Agency said yesterday that 33 Ohio counties including Mahoning, Trumbull and Columbiana counties -- do not meet the new 8-hour, health-based outdoor air quality standard for ground-level ozone.
UCFC Reports 12.5% Increase in Earnings Per Share
Friday, April 16, 2004YOUNGSTOWN, Ohio -- United Community Financial Corp, holding company of The Home Savings and Loan Co. and Butler Wick Corp, today reported net income of $5.5 million, or $0.18 per share, for the quarter ended March 31, compared to $5 million, or $0.16 per share, for the first quarter of 2003."United Community continues to maintain strong profitability," said Douglas M. McKay, chairman and chief executive officer. "Earnings per share increased 12.5% compared to the same period last year. Furthermore, return on equity continues to improve.