Local News

Thursday, December 11, 2014

YOUNGSTOWN, Ohio -- An official with Penn National Gaming Inc., which operates Hollywood Gaming at Mahoning Valley Race Course, today objected to the company “being singled out yet again for another money grab.” The Ohio Senate on Thursday approved House Bill 494 with an amendment providing for the $500,000 payments owed to Austintown, where the Penn National racino is located, as well as Dayton, where Penn National opened another racino this year. The amendment calls for the $500,000 payments to be paid for three years, half coming from Penn National and half from...

Thursday, December 11, 2014

AUSTIN, Texas -- Three in four Americans admit to having made a major purchase on impulse, CreditCards.com finds. And nearly half of those said they regretted doing so. An impulse purchase was defined as any unplanned or unnecessary decision to buy a product just before buying it, says CreditCards.com, which sponsored the survey.  A major purchase was defined as spending $100 or more. Nearly 90% of millennials said they had made an impulse purchase compared to just 56% of seniors. The survey also found significant differences among Americans on what triggers these...

Thursday, December 11, 2014

Author:  Dennis LaRue YOUNGSTOWN, Ohio -- It turns out that Frank Hierro wasn’t ready to retire. Hierro, who just joined the Home Savings and Loan Co. as president of its Mahoning Valley Region, retired Nov. 14 as president of the Mahoning Valley region of Huntington Bank. He and Gary M. Small, president and CEO of Home Savings and its holding company, United Community Financial Corp., met Wednesday with The Business Journal. Home Savings finds itself in a strong position to expand its commercial lending activity and re-engage in...

Thursday, December 11, 2014

YOUNGSTOWN, Ohio -- Mahoning Valley car dealers sold 1,941 new vehicles in November, the Automobile Dealers Association of Eastern Ohio reports, a 2.86% increase over the same month last year. In November 2013, 1,887 new cars and trucks were sold. The top-selling model was the Lordstown-built Chevrolet Cruze, which sold 155 units, a 9.9% increase from the same period last year. Year-to-date, 2,318 Cruzes have been sold in Mahoning, Columbiana and Trumbull counties. Rounding out the top five in November are the Chevrolet Silverado 1500 with 95 units sold, Ford F-150...

Thursday, December 11, 2014

Author:  George Nelson YOUNGSTOWN, Ohio --– Mayor John McNally expects to name a director for the city’s newly created office of community and economic development as soon as Friday, the mayor said Wednesday. Combining the community development agency and economic development office was among McNally’s stated priorities when he took office nearly a year ago. In November, city voters approved a charter amendment creating the new department. Bill D’Avignon, a city employee since 1992, has been CDA director since 2006. T. Sharon...

Thursday, December 11, 2014

IRVINE, Calif. -- Cash sales made up 34.8% of all housing bought in September, down from 37.2% in September 2013, CoreLogic reports. The year-over-year share has fallen each month since January 2013, making September the 21st consecutive month of declines. Month over month, the share of cash sales ticked up 1%. Core Logic caustions that comparisons should be made on a year-over-year basis because of the seasonal nature of the housing market. Before the housing bubble burst, the cash sales share of all housing sales averaged approximately 25%. The peak occurred in...

Thursday, December 11, 2014

CHICAGO -- There's no party like a workplace holiday party because workplace holiday parties can get awkward. That's especially true when workers bearing gifts deviate from the more traditional offerings such as candy and gift baskets. Some 21% of workers say they plan to buy holiday gifts for co-workers (similar to last year, 22%), and 20% plan to buy a gift for the boss, finds CareerBuilder's annual holiday survey. Of those who plan to buy gifts for their co-workers or bosses, 76% expect to spend $25 or less on each gift, 33% will spend $10 or less and 10% will...

Wednesday, December 10, 2014

CHICAGO -- The American Economic Development Institute ranks JobsOhio, a private agency that oversees development initiatives for the state, as one of the top-10 economic development organizations for 2014, placing it seventh in its rankings. The institute is a privately funded public policy and research organization that describes itself as nonpartisan. In announcing its rankings, the first for the organization, AEDI lauded JobsOhio's “distinctive approach to economic development, which it said sets the organization apart from those in other states.” "Creativity is...

Wednesday, December 10, 2014

YOUNGSTOWN, Ohio -- Language that would establish a national network of manufacturing hubs modeled on America Makes is included in omnibus legislation that will go before the U.S. Senate this week, the office of U.S. Sen. Sherrod Brown announced today. The language is based on the Revitalize American Manufacturing and Innovation Act, co-sponsored by Brown, D-Ohio, and U.S. Sen. Roy Blunt, R-Missouri, which would establish a National Network of Manufacturing Innovation. The initiative brings together industry, universities and community colleges, federal agencies and...

Wednesday, December 10, 2014

COLUMBUS, Ohio -- American Energy Utica LLC, the company founded by former Chesapeake Energy Corp. CEO Aubrey McClendon, secured 12 new permits for horizontal wells in the Utica shale last week as energy companies showed no let up in their focus on developing the southern portion of that oil and gas play. American Energy was awarded seven new well permits in Guernsey County and five new permits in Harrison County, according to the latest well permits released by the Ohio Department of Natural Resources. Third quarter results provided by ODNR last week show American...

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