Local News

Monday, August 25, 2014

YOUNGSTOWN, Ohio -- The Williamson College of Business Administration at Youngstown State University has received a $150,000 grant from the Great Lakes Higher Education Guaranty Corp. With the Career Ready Internship grant, the Williamson College will work with local businesses and nonprofits to develop new paid internships and convert its unpaid internships into paid internships, helping students who can’t afford to work without pay. The new internships are intended to provide juniors and seniors with any level of financial need real-world experience in their field...

Monday, August 25, 2014

NEW YORK -- New construction starts in July climbed 6% to a seasonally adjusted annual rate of $588.8 billion, McGraw Hill Construction reports. Nonresidential building continued to advance, supported by yet another robust month for manufacturing plant projects as well as an improving market for commercial building. The nonbuilding construction sector (public works and electric utilities) also advanced, helped by the start of a very large mass-transit rail project, says McGraw Hill Construction, a division of McGraw Hill Financial.  At the same time, residential...

Monday, August 25, 2014

ORLANDO, Fla. -- AAA Travel projects that 34.7 million Americans will travel 50 miles or more from home during the Labor Day holiday weekend, the highest number for the holiday since 2008 and a 1.3% increase over 2013. Nearly 86% of travelers, 29.7 million, will celebrate the holiday with a final road trip as summer comes to a close and children head back to school. The Labor Day holiday travel period is defined as Aug. 28 to Sept. 1. Highlights from the AAA's 2014 Labor Day travel forecast: When the Labor Day weekend begins in August, Americans have shown a higher...

Saturday, August 23, 2014

YOUNGSTOWN, Ohio -- The majority interest in Hynes Industries is now owned by Resilience Capital Partners, a Cleveland private equity firm that since its founding in 2001 has invested in 40 companies under 23 platforms. The Bresnahan family will retain a minority stake in the company, according to the announcement from the private equity firm. Terms of its investment were not disclosed. Said William J. Bresnahan, a member of the company’s board of directors in a prepared statement, “Our commitment to working alongside our new partners to take Hynes to the next level...

Saturday, August 23, 2014

WASHINGTON -- The U.S. Department of Commerce will impose countervailing duty orders and antidumping orders on imports of certain oil country tubular goods from six countries, including Korea, following a ruling by the U.S. International Trade Commission. The commission determined Friday that a U.S. industry was “materially injured or threatened with material injury” due to the OCTG imports from Korea, India, Taiwan, Turkey, Ukraine and Vietnam that Commerce determined were sold in the United States at less than fair market value, and that imports of the products are...

Friday, August 22, 2014

Author:  Josh Medore YOUNGSTOWN, Ohio -- When Golden String Inc. was approached about opening a restaurant in Oakhill Renaissance Place, the organization showed no hesitation in answering with a resounding “Yes!” Named for Joe Gallagher, the group's first client who died several years ago, the organization will officially open Gallagher's Lunch Bucket Monday. “He would always bring a lunch bucket with him. When we were approached to open a cafeteria, we knew right away that this would be an ode to Joe Gallagher. He continues to...

Friday, August 22, 2014

Author:  Dan O'Brien YOUNGSTOWN, Ohio -- Blue Racer Midstream LLC’s plans to construct a multi-million-dollar processing plant in southeastern Mahoning County appear to be back on track, according to documents obtained by The Business Journal. A Capital PEC Report published by Industrial Info Resources Inc., based in Sugar Land, Texas, shows that Blue Racer would like to begin construction on a $70 million natural gas processing plant just outside Petersburg in Springfield Township by September 2015. The report was last updated in...

Friday, August 22, 2014

Author:  George Nelson NILES, Ohio -- A spokesman for the Cafaro Co. would not confirm that a building taking shape at its Eastwood Mall Complex would house the new headquarters for the commercial real estate developer. Nor would he say what the building would instead house. Construction of the building, behind fencing and near the newly opened Residence Inn by Marriott, created logistical concerns that pushed back construction of a banquet center that will be attached to the Eastwood Mall and the Residence Inn, said Joe Bell. Bell is...

Friday, August 22, 2014

PITTSBURGH -- Shareholders of OBA Financial Services Inc., based in Germantown, Md., voted to become part of F.N.B. Corp., the companies announced Thursday. Expected closing date is Sept. 19. All regulatory issues were completed July 29, F.N.B. said. OBA is the parent of OBA Bank, founded in 1861, which has assets of $381.6 million and six offices in eastern Maryland. It has 63 full-time and nine part-time employees. Its six branches will become part of First National Bank of Pennsylvania, the largest subsidiary of F.N.B. Corp.. which has a presence in Greater...

Friday, August 22, 2014

McLEAN, Va. -- Is a sharp correction in used-vehicle prices imminent? The National Automobile Dealers Association expects used-vehicle prices will indeed begin to fall -- gradually. After the Great Recession, a sharp decrease in new-vehicle sales greatly reduced the supply of late-model used vehicles. At the same time, price-conscious consumers chose to buy more affordable used vehicles than new cars and trucks. These two factors helped lift used-vehicle prices by 17% from 2007 to 2013, according to the NADA. Prices have risen another 2% so far this year to an all-...

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