Business Stories for July 2012
Stories for Tuesday, July 31
Gas price rise in July was largest in 12 years
Gasoline prices nationwide rose 5.1 percent in July, the largest amount for that month in 12 years, according to AAA.The national average for July was $3.42 a gallon, the third-highest ever recorded average price for the month. The local average for July was slightly higher at $3.46.It was predicted that ...
NCR hopes to improve underfunded pensions
NCR Corp. will inject cash and offer a lump-sum payout to eligible employees involved in its pension plan as part of an effort to repair its underfunded pension program, the company announced Tuesday.The company, which moved its headquarters from Dayton to Duluth, Ga., in 2010, will contact the approximately 23,000 ...
NCR to offer lump-sum payments to certain pensioners
NCR Corp. said Tuesday it plans to offer lump-sum pension payments to an estimated 23,000 former employees as part of a plan to reduce its pension liability.Former employees who have deferred monthly pension payments are eligible for the lump-sum payment. The projected cost of that liability represents about 33 percent ...
Home prices rising in major cities
WASHINGTON (AP) — Home prices rose in May from April in every city tracked by a leading index, a sign that increasing sales and tight inventories are supporting a modest housing recovery.The Standard & Poor’s/Case-Shiller home price index released Tuesday showed increases in all of the 20 cities tracked. And ...
Consumer confidence rises
NEW YORK (AP) — U.S. consumer confidence rose in July after four months of declines, as a brighter outlook for short-term hiring offset longer-term worries about the economy.The Conference Board says its Consumer Confidence Index increased to 65.9, from 62.7 in June. That’s the highest reading since April and better ...
Another microbrewery coming to Yellow Springs
YELLOW SPRINGS — Another new microbrewery is coming to the Miami Valley: The Yellow Springs Brewery is renovating space in The Millworks at 305 N. Walnut St. and hopes to be selling its brews by the end of the year, according to Lisa Wolters of Yellow Springs, who co-owns the ...
Two local companies among those getting tax credits
The Ohio Tax Credit Authority Monday approved assistance to 25 projects set to create what Ohio government expects to be more than 2,000 jobs across the state, including two companies in Montgomery County.The authority approved a 35-percent, six-year “job creation” tax credit for BOI Solutions Inc. in Miamisburg. The company ...
Speedway sales, revenue growth continues
Marathon Petroleum Corp. revenues have climbed again, thanks in large part to the growth of Speedway, a top 10 employer in Clark County.Speedway’s operating income jumped 30 percent over last year to $107 million as it sold more gasoline, marking the second quarter of growth this year.“Speedway is a key ...
Honda earnings quadruple
TOKYO (AP) — Honda’s quarterly profit quadrupled to 131.7 billion yen ($1.7 billion) as the Japanese automaker bounced back from last year’s natural disasters with more vehicles sold across all key regions except for Europe.Tokyo-based Honda Motor Co., which makes the Fit subcompact, Odyssey minivan and Asimo walking robot, said ...
Stories for Monday, July 30
Ohio among lowest for car insurance
Typical Ohio drivers pay $1,128 a year, or about 2 percent of their annual incomes, for car insurance - ranking the Buckeye State No. 11 among states with the lowest auto insurance rates relative to incomes, according to a new study from Bankrate Inc.’s CarInsuranceQuotes.com.By contrast, drivers in neighboring Michigan ...
KeyBank local president Reilly retires
Ed Reilly, KeyBank’s southwest Ohio district president, retires Wednesday after about six years in the top spot for the bank’s area operations.As district president, Reilly oversaw consumer, business and commercial banking and wealth management in the region from northern Kentucky to Dayton and Springfield.Reilly, 59, feels he’s come full circle, ...
Coalition seeks $6M tech investment fund
The Dayton Development Coalition is seeking investment toward a new $6 million pre-seed fund to support technology start-ups in the region.The coalition will host informational meetings Wednesday and Aug. 8 at the Engineer’s Club of Dayton for accredited investors interested in participating in the Dayton Region Signature Fund II.“We want ...
Cornerstone seeks to detach former Dille property from Centerville
Cornerstone Developers Ltd. said Monday it has filed petitions in a Greene County court to detach the former Dille properties from Centerville, said George Oberer Jr., chief executive of the Oberer Cos. and Cornerstone Developers. It’s the latest chapter in a six-year saga for a planned $220 million mixed-used development ...
Supervalu fires CEO Herkert
MINNEAPOLIS (AP) — Supervalu is ousting CEO Craig Herkert as the grocery chain looks to right its business only weeks after reporting disappointing quarterly results and suggesting it might put itself up for sale.Chairman Wayne Sales was named Monday to take on the additional roles of president and CEO.Supervalu had ...
KeyBank local president Reilly retires
KeyBank’s Southwest Ohio District President Ed Reilly retires Wednesday, after about six years in the region’s top spot for KeyBank.As district president, Reilly oversaw consumer and business banking and wealth management in the region from Northern Kentucky to Dayton to Springfield.Reilly, 59, feels he’s come full circle, having started and ...
New Clayton restaurant eyeing mid-August opening
CLAYTON — The chef-owner of the new restaurant to be called Urban Harvest Restaurant & Catering that is under renovation at 8331 N. Main St. in the Randolph Plaza says he is shooting for a mid-August opening.Owner Matthew DeAngulo said the restaurant, which we first told you about in May ...
Frisch’s declares special dividend
Frisch’s Restaurants Inc. announced Monday morning that its board of directors declared a special one-time dividend of $9.50 per share, the result of the chain’s recent sale of its Golden Corral business unit. The dividend is payable Sept. 14, to shareholders of record as of Aug. 31.The special dividend payment ...
Law firm with local office launches investigation of Zynga
A law firm with an office in Dayton is investigating the maker of “Words With Friends” and “FarmVille” for possible violations of federal securities laws.The law firm of Statman, Harris & Eyrich LLC announced Sunday that it is investigating potential violations of federal securities laws and breaches of fiduciary duty ...
Stories for Sunday, July 29
Speedway, Honda score some love in consumer survey
A consumer survey conducted by Harris Interactive placed a couple of companies with strong Ohio ties at the top of their categories.The 2012 Harris Poll EquiTrend survey named Enon-based Speedway, which operates nearly 1,500 convenience stores in Ohio and six other Midwestern states, as the highest-ranked convenience store brand in ...
Ohio TechAngels support tech start-ups
One of the nation’s largest “angel” investor groups is looking to the Dayton region to help grow its membership and create more high-paying jobs in Ohio.The Ohio TechAngel Funds support Ohio-based information technology, advanced materials and medical technology start-up companies. The Columbus-based private investor group has put nearly $20 million ...
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