Local News

Friday, November 7, 2014

NEW YORK -- U.S. households plan to spend an average of $538 on gifts this holiday season, up slightly from $528 last year, the Conference Board said Thursday. Eight percent of consumers say they plan to spend more this year on holiday gifts, while 32% plan to spend less. The remaining 60% plan to spend about the same as last year. About one in three holiday shoppers say they expect more than half of their purchases will be on sale or discounted. An increasing number will click to shop online. Nearly seven in 10 expect to purchase at least some of their holiday gifts...

Thursday, November 6, 2014

Author:  Josh Medore YOUNGSTOWN, Ohio -- Just hours before it opened the doors of the Tyler Mahoning Valley History Center to the public for the first time, the Mahoning Valley Historical Society kicked off Phase 2 of its capital campaign, announcing a $500,000 donation from Dr. Maria Fok. The fundraising goal for Phase 2 is $1.5 million. Fok's donation will underwrite a permanent exhibit on the first floor of the center, “People of the Mahoning Valley,” says Cheryl Lewis, campaign director for the society. Lewis noted that Phase 2...

Thursday, November 6, 2014

YOUNGSTOWN – Citing the city’s “entrepreneurial tradition,” Global Trade magazine listed Youngstown among the Top 10 employee-friendly places in the U.S. The ranking was announced this week when Global Trade published its third annual “Best Cities for Global Trade” report (CLICK HERE). Employee-friendly is among the 10 “needs-oriented and relevant categories” that exporters consider when making location decisions, the trade journal said, and one of the 10 it ranked. In all, 100 cities made one of the lists. In its report, the magazine told exporting businesses, “...

Thursday, November 6, 2014

YOUNGSTOWN, Ohio -- The Youngstown Board of Control this morning approved a payment of up to $15,000 to the city of Campbell under the terms of its agreement to share income taxes generated by a project in the former Cold Metal Products building. Earlier this year the two cities agreed to provide assistance to DNV Energy LLC, a spinoff of Youngstown Pipe & Supply. Both companies are located in the former CMP building, which straddles both cities. DNV makes and sells products for the oil and gas industry including standard valves and fittings as well as custom...

Thursday, November 6, 2014

Author:  Josh Medore YOUNGSTOWN, Ohio -- After 18 meetings since April 22, the Emerging Leaders program graduated its 2014 class Wednesday. The program, administered by the U.S. Small Business Administration at Youngstown State University, graduated 16 small-business people from around the Mahoning Valley. Students were taught various business methods that covered a spectrum ranging from accounting to social media and marketing to how to handle personnel decisions. “We learned you have to work on your business, not in your business....

Thursday, November 6, 2014

YOUNGSTOWN, Ohio -- In the sixth year of recovery -- the Great Recession having ended in June 2009 -- normality has returned to small-business owners and the accountants who serve them. Their concerns are retirement and succession planning, the effect of the Affordable Care Act on premiums they’ll pay for their employees’ health insurance, tax planning, how they’ll pay for their children’s (or grandchildren’s) college educations, on financing expansion or acquiring more space, on increasing their sales forces.    They are not struggling to repay debt or worried about...

Thursday, November 6, 2014

YOUNGSTOWN, Ohio -- Bottom Dollar Food will close its 66 stores by year end, including four in the Mahoning Valley, the discount grocery chain’s parent company, Delhaize Group, announced Wednesday. In a news release posted on the Belguim company’s website, Delhaize announced it has entered into a deal to sell Bottom Dollar Food’s 66 store locations and associated lease liabilities to Aldi Inc. and no longer operate in the discount segment of food retail in the United States. All of the stores are expected to remain open until the end of 2014. After that, Bottom...

Thursday, November 6, 2014

YOUNGSTOWN, Ohio -- In the sixth year of recovery -- the Great Recession having ended in June 2009 -- normality has returned to small-business owners and the accountants who serve them. Their concerns are retirement and succession planning, the effect of the Affordable Care Act on premiums they’ll pay for their employees’ health insurance, tax planning, how they’ll pay for their children’s (or grandchildren’s) college educations, on financing expansion or acquiring more space, on increasing their sales forces.    They are not struggling to repay debt or worried about...

Thursday, November 6, 2014

NEW YORK -- The funded status of the typical U.S. corporate pension plan fell 0.4 percentage point to 89.5% in October as liabilities increased faster than assets. Public defined-benefit plans, endowments and foundations beat their targets in October on the strength of rising asset values. For the typical corporate plan in October, assets rose 1.5%, trailing the 1.9% increase in liabilities, according to the BNY Mellon Institutional Scorecard from the BNY Mellon Investment Strategy and Solutions Group. This funded status is down 5.7% from the December 2013 high of 95...

Wednesday, November 5, 2014

SALEM, Ohio -- Renovations are underway at Salem Twin Cinema in anticipation of a planned Nov. 14 grand opening. A ribbon cutting and open house is set for 4 p.m. Thursday. The first movies expected to be shown in the new theater are the new Disney computer-animated film, “Big Hero 6,” and “Interstellar,” the Christopher Nolan-helmed space epic starring Matthew McConaughey, Anne Hathaway and Jessica Chastain.   Three cargo containers with the sound system components have been delivered as well as the 300 seats to be assembled and installed. Remodeling work has been...

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