Local News

Monday, August 11, 2014

CHESTER, W.Va. -- Drops in net revenue at the casinos at Mountaineer Park and Presque Isle Downs s contributed to a net loss of $1.2 million for the second quarter at MTR Gaming Group Inc., the compamy reports. The decrease was attributed primarily to additional gambling competition in Ohio as well as continued competitive pressure from casinos in that market. For the second quarter,  total net revenues were $124.9 million, a decrease of 4.9% compared to the same period in 2013. “Our second-quarter results were once again affected by a challenging regional operating...

Monday, August 11, 2014

WASHINGTON -- Concerned about of the burden of student debt, more parents are making saving a priority this year over last year as the best way to pay for their children's college education, the eighth annual State of College Savings survey finds. Parents ages 21 to 30 and 31 to 35 are getting a jump on the high cost of college by saving earlier in their children's lives. Fully 71% of parents who responded to the survey said that increased public awareness of student loan debt had caused them to look at different strategies for funding their child's education....

Friday, August 8, 2014

NEW WILMINGTON, Pa. -- Westminster College was named one of the "50 Great Affordable Colleges in the Northeast" by Great Value Colleges, a website that helps students find the best possible education for their money. Grove City College, Grove City, Pa., is on the list as well. Grove City ranks No. 6 on the list of private schools, while Westminster ranks 22nd. According to the rankings, the school has a freshmen retention rate of 91% and 96% of alumni are working or in graduate school. Grove City College focuses on providing an affordable education from a Judeo-...

Friday, August 8, 2014

CLEVELAND -- Parker Hannifin Corp. reports fiscal year 2014 net income of $1,041 million, or $6.87 per diluted share. This compares with net income of $949 million, or $6.25 per diluted share, for fiscal 2013. Sales were a record $13.2 billion for fiscal 2014, up from $13 billion in the previous year. Cash flow from operations for fiscal 2014 was $1.4 billion, or 10.5% of sales, compared with $1.2 billion, or 9.1% of sales, in the prior year. Excluding a discretionary contribution to the company's pension plan of $75 million in fiscal 2014, cash flow from operations...

Friday, August 8, 2014

WARREN, Ohio -- Warren Steel Holdings resumed operations Thursday, following approval by state utility regulators of an arrangement that will allow it to pay reduced electric rates. The company shut down in late March, explaining that high energy costs made it uncompetitive, according to documents filed in June with the Public Utilities Commission of Ohio. Warren Steel operates in the former CSC Industries plant in Champion Township. The plant produces carbon and alloy steel continuously-cast products. It employs 180 wage and salary workers. “The restart of...

Friday, August 8, 2014

DALLAS -- Regency Energy Partners announced Thursday that it has secured a joint venture agreement with American Energy–Midstream LLC for the construction and operation of Regency's $500 million Utica Ohio River project.  Regency and American Energy Utica LLC, a subsidiary of former Chesapeake CEO Aubrey McClendon's American Energy Partners, will also enter into a gathering agreement for gas AEU produces in the Utica shale. “We are excited about the strong growth potential of the Utica shale, and this project will be a main takeaway option for Utica development,...

Friday, August 8, 2014

Author:  Dennis LaRue YOUNGSTOWN, Ohio -- Being the depository of funds for school districts, port authorities and municipal and county governments is not as profitable as commercial and consumer lending, bankers say, but it is profitable and not as competitive. It’s mostly smaller community banks that fill this role. They do so in part out of a sense of giving back to the communities where they have a presence.  “We’re community stewards,” says John Draganic, an associate managing director at Talmer Bank and Trust and its business...

Friday, August 8, 2014

WASHINGTON -- Steel import permit applications for July totaled 3.781 million net tons, the American Iron and Steel Institute reports, a 1% increase from the 3.732 million permit tons recorded in June and a 5% increase from the June preliminary imports total of 3.586 million tons. Import permit tonnage for finished steel in July was 2.952 million, up 9% from the preliminary imports total of 2.706 million in June. For the first seven months of the year, total and finished steel imports were 24.863 million net tons and 18.504 million net tons, respectively, up 36% and...

Friday, August 8, 2014

ATLANTA -- The Randstad Engineering Employee Confidence Index, a measure of overall confidence among U.S. engineers, fell below 60 for the first time since the second quarter of 2013, declining from 63.6 to 59.8 this quarter. However, confidence levels remain high when compared with those of the other industries surveyed. The index indicated a loss of confidence in engineers' own personal job security, dropping from 84% in the first quarter to 72% in the second quarter. In addition, the Personal Confidence Index for engineering workers dropped more than five percentage points, to 72.6% from...

Thursday, August 7, 2014

DENVER- MarkWest Energy Partners plans to add a third cryogenic plant to its Cadiz, Ohio, complex in Harrison County to process the high volumes of natural-gas liquids extracted from the Utica shale, the company announced today. The new plant is expected to come online during the first quarter of 2015 and will increase processing capacity at the Cadiz site to 525 million cubic feet per day. MarkWest's Cadiz complex, a partnership between MarkWest and the Energy & Minerals Group, or EMG, is now capable of processing 125 million cubic feet per day through its...

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