Business Stories for October 2012
Stories for Friday, October 19
Ohio unemployment rate falls to its lowest rate since 2008
Ohio’s unemployment rate in September dipped to 7 percent, the lowest rate in four years, as more residents reported having jobs and the state’s workforce grew, according to federal labor data released Friday.Ohio’s unemployment rate edged down after being stuck at 7.2 percent between June and August, according to the ...
Small business owners consider their stake in presidential race
Most presidential election polls show Republican challenger Mitt Romney with solid advantage over President Barack Obama among small business owners. But recent surveys indicate the gap may be narrowing while a significant number of small business owners say they still have not decided which, if either, candidate would be good ...
Stories for Thursday, October 18
Supervalu sees 2Q loss, in active talks on options
By MICHELLE CHAPMANAssociated PressGrocery store operator Supervalu lost money in its latest quarter, but the struggling company said it is in active discussions with several parties over a possible deal.Supervalu fired its CEO in July, replacing him with Chairman Wayne Sales to lead its turnaround effort. It has closed stores, ...
US unemployment aid applications jump to 388K
By CHRISTOPHER S. RUGABERAssociated PressWeekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase marks a rebound from the previous week’s sharp drop. Both swings were largely due to technical factors.The four-week average of applications, a less volatile ...
Stories for Wednesday, October 17
Wanted: A few good recruits at American Airlines
By SAMANTHA BOMKAMPAssociated PressWanted: A few good recruits for an airline that’s seen better days.To replace some of its departing staff, American Airlines will hire 1,500 flight attendants starting next month, with training beginning in January.The airline said Wednesday that 2,250 of its flight attendants have taken $40,000 buyout offers ...
US housing construction jumps to 4-year high
By MARTIN CRUTSINGERAssociated PressU.S. builders started construction on homes in September at the fastest rate since July 2008 and made plans to build even more homes in the coming months. The gains show the housing recovery is strengthening and could help the economy grow.The Commerce Department said Wednesday that home ...
Stories for Tuesday, October 16
Airline executives urge airport security overhaul
By SCOTT MAYEROWITZAssociated PressAirport security needs to undergo a radical overhaul or else passengers will become further disgruntled, lines will grow and terminals will be overwhelmed, airline executives said Tuesday at a global aviation conference.“We simply can’t cope with the expected volume of passengers with the way things are today,” ...
Vikram Pandit steps down as Citigroup CEO
By DANIEL WAGNERAssociated PressVikram Pandit abruptly severed his ties with Citigroup on Tuesday, stepping down as CEO and a director, after steering the bank through the 2008 financial crisis and the choppy years that followed.The move shocked Wall Street and Citigroup offered no explanation. There had been no hint of ...
US homebuilder confidence at 6-year high
By ALEX VEIGAAP Real Estate WriterConfidence among U.S. homebuilders remains at its highest level in six years, reflecting improved optimism over the strengthening housing market this year and a pickup in visits by prospective buyers to builders’ communities.The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday rose ...
More business filings up in Ohio
New business filings are up in Ohio, and the number of displaced workers seeking assistance because of trade-related job losses is down, suggesting continued improvement in the Buckeye State’s economy.The number of individuals and companies filing to do business in Ohio last month rose by about 9 percent from at ...
Stories for Monday, October 15
Education critical to meet business challenges
Education Critical to Meet Business Challenges Trends indicate that Hispanic business owners are beginning to take home a bigger slice of the U.S. economy. The U.S. Census Bureau reported in 2007 that there were a total of 2.3 million Hispanic-owned businesses in the United States, up nearly 50 percent in ...
Stories for Sunday, October 14
Ohio’s growing part-time workforce struggles to find full-time work
It’s a situation that has become such a cliche in today’s struggling economy that MTV plans to launch a sitcom named after it: “Underemployed.”The characters in the show are fictional, but the story line — college graduates struggling to land full-time jobs — reflects the haunting reality for hundreds of ...
Stories for Friday, October 12
Decline in pension plans leaves many Ohioans unprepared
Fewer Ohio businesses are offering defined-benefit pension plans, as employers attempt to reduce future funding obligations and shift retirement liabilities to workers. Many companies still offer pension coverage, but most now provide defined-contribution plans, such as 401(k) accounts. 401(k) plans often have employer matches and loan provisions, and allow for ...
Stories for Monday, October 8
P&G CEO won’t likely catch heat at annual meeting
Despite harsh criticism from Wall Street, Procter & Gamble CEO Bob McDonald is unlikely to face a mass shareholder revolt at the company’s annual meeting today in downtown Cincinnati, thanks largely to the company’s recent performance, local experts say.“Investors want to see results,” said Dan Kiley, CEO of Retirement Capital ...
Auto body shop chain expanding in Dayton, northern Cincinnati areas
A Cincinnati-based chain of body shops is expanding its footprint in the Dayton and northern Cincinnati areas. The newest True Quality Collision shop opened Monday at 6192 Webster St. in Vandalia. The 30,000-square-foot shop, which formerly housed a tool and die company and later a bingo hall, is more than ...
Body shop chain expanding in Dayton, northern Cincinnati areas
A Cincinnati-based chain of body shops is expanding its footprint in the Dayton and northern Cincinnati areas.The newest True Quality Collision shop opened today at 6192 Webster St. in Vandalia. The 30,000-square-foot shop, which formerly housed a tool and die company and later a bingo hall, is more than four ...
Stories for Friday, October 5
U.S. jobless rates lowest since 2009
The national unemployment rate fell below 8 percent last month for the first time in nearly four years, surprising many analysts who had expected the rate to remain stable or inch up slightly and igniting fierce debate over the economic health of the country.September’s jobless rate dropped to 7.8 percent ...
Stories for Thursday, October 4
Cincinnati FBI warns virus scam targets area residents
The Cincinnati office of the FBI issued a warning Thursday about a computer virus being used to extort money from area residents. The virus is “ransomware” known as Reveton that installs itself when an Internet user visits a compromised website, according to the FBI. Once infected, the computer locks and ...
Stories for Tuesday, October 2
Meijer hiring for both seasonal, permanent positions
Meijer will hire 12,000 employees this holiday season, including 2,500 in Ohio, and some of those jobs will be permanent rather than seasonal positions, company officials announced Tuesday. “We are in growth mode,” said Meijer spokesman Frank J. Guglielmi. “We are optimistic about how things are looking in the months ...
Auto sales remained strong in September
Americans found plenty of reasons to buy new cars in September, and that made auto sales a bright spot in the economy for yet another month. Sales rose for most automakers, led by gains of more than 30 percent for Toyota and Volkswagen. Sales of cars and trucks made by ...
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