Local News

Wednesday, February 4, 2015

YOUNGSTOWN, Ohio -- The Ohio Department of Natural Resources issued 14 horizontal well permits during the week ended Jan. 31 to five companies exploring the Utica shale for oil and gas reserves, the agency reports. According to ODNR's website, Gulfport Energy Corp. received four new permits to drill wells in Belmont County, while Eclipse Resources secured four new permits for wells in Noble County. Energy companies are concentrating exploration efforts in the southern tier of the play, a region that's produced some of the Utica's most powerful wells. American Energy...

Wednesday, February 4, 2015

YOUNGSTOWN, Ohio -- Dr. Terry Engelder, professor in the geosciences department at Pennsylvania State University, will speak on “Imbibition: The Major Reason Why Fracking Fluid Is Most Unlikely to Mix With Groundwater Along Natural Pathways” tonight at Youngstown State University. The next installment in YSU’s Speaker Series on Energy and the Environment, the lecture will take place at 7 p.m. in Room B112 of Cushwa Hall. Engelder, a leading authority on the recent Marcellus gas shale play, holds degrees from Penn State, Yale and Texas A&M. He is a professor of...

Wednesday, February 4, 2015

YOUNGSTOWN, Ohio -- In today's "3 Minutes With," Gil Goldberg, district director of the Cleveland District for the U.S. Small Business Administration, discusses combatting “rumors and innuendo” about the Affordable Care Act and getting information out to small businesses about the options they have for providing health-care coverage under the new law. SBA officials participated in a seminar at YSU (READ STORY).    "3 Minutes With" is a daily video feature produced by The Business Journal. To see who's interviewed every business day, CLICK HERE for our free daily headlines, emailed to your...

Tuesday, February 3, 2015

YOUNGSTOWN, Ohio -- The company that operated the Metroplex Hotel and Conference Center in Liberty Township is seeking $12.5 million from township and Girard city officials in a civil rights lawsuit filed in U.S. District Court. In the lawsuit, Aswin Ganapathy Hospitality Associates Inc. of Hubbard and Indira Periysamy of Lancaster, Pa., Aswin’s managing member, charge that the defendants “imputed an Indian racial and ethnic identity” to their company and “acting individually and in concert with one another, engaged in a series of actions which were designed to...

Tuesday, February 3, 2015

Author:  Josh Medore YOUNGSTOWN, Ohio -- Auto sales increased in January for all three domestic automakers, with General Motors Co. reporting the biggest increase, up 18%. Sales of GM’s Chevrolet Cruze, built in Lordstown, were up 11.1% in January from a year earlier with 18,693 units sold across the country. The car was Chevy's third-best selling vehicle behind the Silverado – 36,106 units sold, a nearly 25% increase – and the Equinox – 19,555  sold, a 34.4% increase. As a brand, Chevrolet sold 142,882 cars, trucks and SUVs in...

Tuesday, February 3, 2015

CORTLAND, Ohio -- Cortland Bancorp, holding company of Cortland Banks, Monday reported fourth-quarter net income of $543,000, or 12 cents a share, and full-year 2014 net income of $3.87 million, or 85 cents per share. This compares with third-quarter net income of $955,000, or 21 cents a share, and a fourth-quarter 2013 net loss of $463,000, or 11 cents a share. Full-year 2013 income was $1.78 million. The company attributed the year-ago quarterly loss to a one-time impairment pre-tax charge of $2 million ($1.3 million after taxes) as required by the “Volcker Rule.”...

Tuesday, February 3, 2015

Author:  George Nelson YOUNGSTOWN, Ohio -- Gil Goldberg wants small businesses to understand that they have options in how they provide health-care coverage. That was the key message the director for the Cleveland District of the U.S. Small Business Administration wanted to impart during Monday’s seminar on the Affordable Care Act. Some 25 individuals -- who included small-business owners, insurance brokers and accountants -- attended the seminar, hosted by the office of U.S. Sen. Sherrod Brown, D-Ohio, at Youngstown State University...

Tuesday, February 3, 2015

Author:  Dennis LaRue YOUNGSTOWN, Ohio -- It took more than five years of economic recovery – the Great Recession officially ended in June 2009 – before small businesses and consumers here at last felt they were in one. The reasons why are many and varied. A.J. Sumell, professor of economics at Youngstown State University, notes that the economy is in its sixth year of expansion. “The difference this year,” he says, “is people are starting to feel it.” The director of economics at Huntington Bank, George Mokrzan, points to its third...

Tuesday, February 3, 2015

YOUNGSTOWN, Ohio -- In today's "3 Minutes With," A.J. Summell, associate professor of economics at Youngstown State University shares his insights on the economic recovery locally, where employment is rising and falling, and projections for where the economy is headed, including potential challenges (READ RELATED STORY).    "3 Minutes With" is a daily video feature produced by The Business Journal. To see who's interviewed every business day, CLICK HERE for our free daily headlines, emailed to your desktop as you start your day. Copyright 2015 The Business Journal, Youngstown, Ohio. CLICK...

Tuesday, February 3, 2015

PITTSBURGH -- Gas prices in Northeast Ohio jumped 15 cents over the past week, as national prices reversed the downward trend that had been the norm in recent months. AAA East Central’s Fuel Gage report put the price of a gallon of regular unleaded gasoline in Northeast Ohio at $2.045 this week, up from $1.893 during the week of Jan. 28 although down from $3.323 during the week of Feb. 4, 2014. In Youngstown, the average price for a gallon of unleaded self-serve regular is $1.987, AAA reports. In Niles, the price is $2.017. After falling for a record 123 consecutive...

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