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City Sets June 22 Groundbreaking for Civic Center
Friday, June 11, 2004By Dan O'BrienYOUNGSTOWN, Ohio -- After a four-year political tug-of-war on how to spend $26.8 million in federal grant money, the city is set to break ground on a new $41 million downtown civic center June 22."I think it's going to be a great day for Youngstown and the area," said First Ward Councilman Artis Gillam. "It's a huge part of rejuvenating the town. If people think Cleveland came back, just watch Youngstown."Architectural plans detailing the structure's look and style were unveiled earlier this week and approved by the city's design review committee.
Lobbyists Pour Money into Ohio
Friday, June 11, 2004By Robert MorlinoWASHINGTON -- If money talks, lobbyists want to make sure they can be heard in Ohio.The Buckeye State was one of eight states where lobbyists increased their spending by 30 percent or more between 2002 and 2003, the Center for Public Integrity reports in a new study. Lobbyists in 41 states reported spending more than $889 million wining, dining and influencing state lawmakers in 2003 -- up from the $720 million of lobbyist spending reported in 40 states in 2002.
Penn State Marks School Record in Academic All-Big Ten Honorees
Friday, June 11, 2004UNIVERSITY PARK, Pa. -- Penn State University listed a school record 245 student-athletes in the Academic All-Big Ten for the 2003-04 academic year. The 245 recipients broke the previous mark of 230, set last year. There were 127 Penn State honorees for the eight spring and five at-large sports. The university narrowly finished second among all conference institutions for 2003-04, as Ohio State had 249 honorees to edge the Nittany and Lady Lions by four.
"South Carolina Doctor Proposes Not Treating Plaintiff's Lawyers, Spouses"
Thursday, June 10, 2004"HARRISBURG, Pa. -- A South Carolina doctor's proposal to not treat plaintiff's attorneys or their spouses won't get the backing of Pennsylvania's physicians next week, but that isn't stopping the controversy over the resolution.Proposed by J. Chris Hawk III, M.D., Resolution 202 is one of the items on the agenda at the 2004 annual meeting June 12-16 of the American Medical Association's House of Delegates.
May Department Stores Co. to Acquire Marshall Field's
Thursday, June 10, 2004ST. LOUIS -- The May Department Stores Co. announced Wednesday it will pay $3.24 billion in cash to acquire the Marshall Field's department store group and nine Mervyn's stores in the Twin Cities areaMarshall Field's, owned by the Target Corp. of Minneapolis, reported revenues of $2.58 billion and generated $107 million in segment earnings in fiscal 2003. It operates 62 stores primarily in the Chicago, Minneapolis and Detroit metropolitan areas.
Recycled Materials Make 100-Year Bridges Possible
Thursday, June 10, 2004UNIVERSITY PARK, Pa. -- Penn State engineers have designed 10 concrete mixtures containing industrial by-products that make it possible for concrete bridge decks to last three times longer or 75 to 100 years."The exact life expectancy of bridges constructed with these mixtures will not be known for many years," says Paul J. Tikalsky, associate professor of civil and environmental engineering who led the study.
Institutional Investors Say Reforms Go Too Far
Thursday, June 10, 2004NEW YORK -- Despite a steady drumbeat of news from the high-profile trials involving such notables as Martha Stewart, Tyco and Enron, nearly half of institutional investors who responded to a recent survey by Broadgate Consultants Inc. are not persuaded that the Sarbanes-Oxley Act has been effective in promoting better corporate governance and protecting investors.Similarly, according to a survey of 120 buy side portfolio managers and research professionals, 52% said that the push for corporate governance may have gone too far and now risks undermining the credibility of its supporters.
Dann Seeks to Stop Prison Labor in Bid Contracts
Thursday, June 10, 2004COLUMBUS, Ohio -- State Sen. Marc Dann of Liberty, D-32, has introduced legislation that would prohibit the use of prison labor in state contracts. "All other workers in Ohio are required to obtain a license in order to assist in the removal of asbestos -- but prisoners are not," Dann said in a news release issued by his office today. "This is an instance in which the state is compromising the well-being of the prisoners, the safety of the community and the jobs of skilled Ohioans, just to save a buck or two."Currently, state contracts are required to be competitively bid.
Work Stoppages in Pennsylvania Third-Lowest on Record
Thursday, June 10, 2004HARRISBURG, Pa. -- The number of work stoppages in Pennsylvania last year fell to 43 -- the third lowest total recorded in the history of the commonwealth but more than 2002 and 2001.Stephen M. Schmerin, secretary of the Pennsylvania Department of Labor & Industry made the announcement during his keynote address today at the Labor Education Institute's symposium held at the Crowne Plaza Hotel here."This is an accomplishment that Pennsylvania can be proud of," Schmerin said.
Companies Benefit by Accepting Blame for Poor Performance
Thursday, June 10, 2004ANN ARBOR, Mich. -- Companies that take responsibility for poor business performance in their corporate annual reports have higher stock prices one year later, says a University of Michigan Business School researcher."Shareholders have more favorable impressions of companies if their managers accept blame for negative performance," says Fiona Lee, associate professor of management and organizations at the Michigan Business School and associate professor of psychology.