Business Stories for July 2012
Stories for Tuesday, July 31
Business briefs
REGIONKeyBank local president Reilly retiresThe district president of KeyBank retires today after about six years in the region’s top spot for KeyBank.As district president, Reilly oversaw consumer, business and commercial banking and wealth management in the region.Reilly, 59, started his banking career in 1977 at Dayton’s First National Bank, which ...
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 ...
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 ...
Stories for Saturday, July 28
Business briefs
LEBANONFrey joins Bunnell Hill ConstructionJim Frey has joined Bunnell Hill Construction as project superintendent. His first project will be to manage the on-site construction of a new Tractor Supply Company (TSC) store in Hollywood, Md.“Jim has more than 20 years of industry experience,” said Kevin Scott, executive vice president. “He’s ...
Stories for Friday, July 27
Kettering Physician Network opens Liberty Twp. office
Kettering Physician and Kettering Health network officials, along with West Chester-Liberty Chamber Alliance, celebrated Fridaythe opening of a Liberty Twp. office.Liberty Pointe Primary Care, 7117 Dutchland Parkway, is part of an expanding footprint by Kettering Health in the area. The office, which opened for business in May, is headed by ...
Falling auto factory work could impact Ohio’s recovery, experts say
Ohio’s economy has rebounded faster than many other states largely because of the strength of the auto industry, which has boosted payrolls at factories across the state.But a U.S. Commerce Department report Friday showed economic growth slowed considerably in the past three months. And at least part of the slowdown ...
Stories for Thursday, July 26
Banks feel impact of low interest rates
The region’s biggest banks say record low interest rates are hurting their main revenue source, forcing them to compete more for customers, look for cost savings and increase revenue from fees for services.“Aside from regulatory issues, this is the biggest deal in banking right now,” said Frank Hall, chief financial ...
Sales tax revenues continue to climb, reflecting a slowly rebounding economy
Sales tax collections distributed by the state in July rose in all seven counties in southwest and west-central Ohio, and registered the 26th consecutive month of year-over-year gains in Montgomery and Greene counties, according to the Montgomery County Office of Management and Budget and the Ohio Department of Taxation.Sales tax ...
Stories for Wednesday, July 25
Fannie, Freddie sued for unpaid Ohio taxes
Montgomery County Prosecutor Mathias Heck, Jr. has filed a class action lawsuit on behalf of 87 Ohio counties against the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to recover millions of dollars in unpaid property transfer taxes.The lawsuit was filed Wednesday in ...
Financial security in jeopardy for nearly a third of Americans
Long-term unemployment, stagnant wage growth and growing debt have taken a toll on the financial security of many Ohioans who are likely to be among the 28 percent of all Americans who say they are in worse financial shape now than a year ago, according to a Bankrate.com survey released ...
Stories for Friday, July 20
Cox Media Group purchases new TV stations in Jacksonville, Tulsa; realigns its broadcast properties
Staff ReportATLANTA – Cox Media Group (CMG) is adding four TV stations and selling other TV and radio properties in a realignment of its broadcast operations.Pending regulatory approval, CMG will add new TV stations in Jacksonville, Fla. and Tulsa, Okla. from Newport Television. The company will take ownership of three ...
Auto sales slow a bit in July
DETROIT (AP) — The raft of gloomy economic news may be starting to hurt U.S. auto sales.Industry analysts and dealers said this week that sales during the first half of July slowed a bit from the robust pace in June. But they still were expected to be better than July ...
Stories for Thursday, July 19
LCNB reports asset, income growth for first half of year
LEBANON – LCNB Corp. Wednesday announced net income for the second quarter of almost $2 million, and for the full first six months of the year of approximately $4.3 million. For the same time a year ago, net income in the second quarter was slightly more than $2 million. The ...
Save-A-Lot stores not affected by Supervalu struggles, store owners say
The financial difficulties faced by Supervalu Inc. — the parent company of the national Save-A-Lot grocery chain — have had no impact on the operations of the Miami Valley’s Save-A-Lot stores because those local stores are independently owned and operated under a licensing agreement with Supervalu, two local owners said ...
Stories for Monday, July 16
Fifth Third names new retail banking head
Fifth Third Bank Monday named Chad Borton as senior vice president and head of retail banking.Prior to joining Cincinnati-based Fifth Third, Borton held various senior management positions at JPMorgan Chase & Co. Most recently, Borton was head of branch administration of JPMorgan, according to Fifth Third.Fifth Third’s previous head of ...
Stories for Saturday, July 14
Home builders still feeling squeeze
The past three years have been desperate times for home builders. Even with more houses under construction this year, builders say the tough times aren’t over.The challenges keep home builders from hiring more or paying subcontractors more.“We’re all still just trying to survive. It’s very difficult because the customers now ...
Stories for Thursday, July 12
Yahoo investigating reported mass password breach
LONDON — Yahoo Inc. said Thursday it is investigating reports of a security breach that may have exposed nearly half a million users’ email addresses and passwords.The company said it was looking into “claims of a compromise of Yahoo! user IDs” but did not disclose the size of the reported ...
SuperValu to explore ‘strategic alternatives’ after stock price tumbles
Shares of Supervalu Inc. — America’s third-largest grocery chain that operates 10 Save-A-Lot stores in the area — lost nearly half their value Thursday after the company announced it would suspend its dividend and will “review strategic alternatives” for the business following disappointing financial results. The Minnesota-based company’s shares fell ...
Stories for Wednesday, July 11
Standard Register reduces pension fund contribution
DAYTON — Standard Register on Wednesday became the second major Miami Valley company to announce it will take advantage of new rules to temporarily reduce payments to its pension fund.The communications management firm said it expects to reduce its pension contribution to $95 million from $112 million through 2014. AK ...
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