How Oil and Gas Drillers Avoid Paying Royalties
Tuesday, August 13, 2013NEW YORK -- Don Feusner ran dairy cattle on his 370-acre slice of northern Pennsylvania until he could no longer turn a profit by farming. Then, at age 60, he sold all but a few Angus and aimed for a comfortable retirement on money from drilling his land for natural gas instead.
It seemed promising. Two wells drilled on his lease hit as sweet a spot as the Marcellus shale could offer – tens of millions of cubic feet of natural gas gushed forth. Last December, he received a check for $8,506 for a month’s share of the gas.
Eastern Gateway’s Success Makes Its Presence Known
Tuesday, August 13, 2013YOUNGSTOWN, Ohio -- The entry of Jefferson Community College, Steubenville, renamed Eastern Gateway Community College when it expanded in the Mahoning Valley in 2009, is so recent that many Valley residents remain unclear about its role and what it offers, Dante Zambrini has found.
Nonprofits Compete for IT Services in DRS Contest
Tuesday, August 13, 2013YOUNGSTOWN, Ohio -- Less than a week from the final day to vote in the online CommunIT contest, the systems at DRS LLC are experiencing voter fatigue. Or, more accurately, voting fatigue.
“It crashed our website last night,” said Mike Meloy, CEO of the Youngstown-based computer equipment and services provider. The crash followed a Sunday evening television report on the competition, and the site continued to be slow the next morning.
Youngstown Architect Balog to Receive Gold Medal
Tuesday, August 13, 2013COLUMBUS, Ohio -- Youngstown architect Gary G. Balog has been chosen to receive the Gold Medal from the Ohio chapter of American Institute of Architects. It is the highest honor that the state chapter can bestow on an individual.
He will receive the award Sept. 20 at a reception during the AIA Ohio Valley Region Convention.
Bank Director Ranks Farmers Banc Corp. 69th
Tuesday, August 13, 2013CANFIELD, Ohio -- Bank Director magazine has recognized Farmers National Banc Corp., holding company of Farmers National Bank, in its latest issue, ranking it 69th in its Top 100 banks with assets of between $1 billion and $5 billion.
Farmers is one of only three banks in Ohio so recognized in the quarterly publication’s 2013 Bank Performance Scorecard. The other two are Peoples Bancorp Inc., Marietta, with $1.918 billion in assets, ranked 52nd, and First Defiance Financial Corp. with $2.047 billion in assets, ranked 99th.
'3 Minutes With' Dante Zambrini, Eastern Gateway Community College
Tuesday, August 13, 2013YOUNGSTOWN, Ohio -- In today's "3 Minutes With," Dante Zambrini, interim vice president at Eastern Gateway Community College, discusses what draws students to the Valley Campus downtown and what EGCC offers compared to schools such as Youngstown State University or Kent State University (READ STORY).
FrackFree Mahoning Valley Turns in Ballot Petitions
Monday, August 12, 2013YOUNGSTOWN, Ohio -- Anti-fracking activists this afternoon turned in petitions containing the signatures of 2,450 city voters, taking the next step to place the so-called “Community Bill of Rights” on the city’s Nov. 5 ballot.
The signatures they collected exceeded by nearly 900 the required number. The petitions were handed to the clerk of Youngstown City Council who, according to the city’s Home Rule charter, will then take the documents to the Mahoning County Board of Elections for certification.
RTI Announces Delay in Filing 2Q Financial Results
Monday, August 12, 2013PITTSBURGH -- RTI International Metals, Inc. has notified the Securities and Exchange Commission that it will be delayed in filing its financial results for the second quarter of 2013.
The delay is due to the previously announced and ongoing review related to a correction of the accounting methodology that impacts the timing of revenue recognition related to certain energy market projects, the company said.
RTI operates a titanium mill in Niles, Ohio.
UCFC Reports 2nd Quarter Net Income of $3.4 Million
Monday, August 12, 2013YOUNGSTOWN, Ohio -- United Community Financial Corp., holding company of Home Savings and Loan Co., Friday reported second-quarter net income of $3.4 million and first-half net income of $6.07 million,
Regardless, the funds available to common shareholders is a second-quarter loss of $2.54 million, or six cents per basic and diluted share, and a first-half loss of $680,000, or two cents a share.
House Committee Subpoenas Delphi Pension Documents
Monday, August 12, 2013WASHINGTON -- The U.S. House of Representatives’ Oversight and Government Reform Committee subpoenaed Treasury Secretary Jacob Lew last week to turn over information related to the committee’s investigation into alleged preferential treatment afforded to Delphi’s unionized employees during the bankruptcy and taxpayer-funded bailout of General Motors.