Local News

Monday, August 25, 2014

WASHINGTON – A slight majority, 53%, of the economists employed by large corporations and national trade associations think the Federal Open Markets Committee is on the right track while nearly two in five, 39%, think Fed policy is “too stimulative,” says a report from the National Association for Business Economics released today. A survey of 257 members of the National Association for Business Economics finds they are less uncertain about the direction of the health of the economy than they were six months ago and that they don’t see inflation as a threat any time...

Monday, August 25, 2014

Author:  Dennis LaRue AUSTINTOWN, Ohio -- When Don Kacmar graduated from Temple University in 1974, he returned to Uniontown, Pa., with the intention of pursuing a career in parks and recreation. He began by running a summer program for Fayette County. Kacmar, soon to retire as executive director of Shepherd of the Valley Lutheran Retirement Services Inc., can vouch for the accuracy of John Lennon’s observation, “Life is what happens while you’re busy making other plans.” After the summer program ended, Kacmar was hired by Lafayette...

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...

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