Business Stories for February 2013
Stories for Sunday, February 24
Yahoo redesign aims to make site more inviting
By MICHAEL LIEDTKEAssociated PressYahoo is renovating the main entry into its website in an effort to get people to visit more frequently and stay longer.The long-awaited makeover of Yahoo.com’s home page is the most notable change to the website since the Internet company hired Marissa Mayer as its CEO seven ...
Stories for Friday, February 22
Standard Register will seek reverse stock split
Standard Register reported improved earnings Friday and in April will ask shareholders to approve a plan to cut the number of the company’s outstanding shares. The Dayton-based company reported a net loss of $209,000, or 1 cent per share, for the fourth quarter of 2012, a substantial improvement from a ...
Woolpert partners with maker of unmanned aircraft
Beavercreek-based Woolpert has partnered with a Florida firm to operate unmanned aircraft for aerial surveying and mapping data collection, company officials said Friday.Woolpert, an engineering and design services firm, has used traditional aircraft to collect LiDAR (Light Detection and Ranging) data to create 3-D visual maps of large areas, including ...
Stories for Thursday, February 21
Consumers: Less take-home pay means less spending
Consumers’ newfound reluctance to spend their smaller paychecks is sending shock waves throughout the economy, from area restaurants and shopping malls to Ohio’s largest employer. A National Retail Federation survey released Thursday showed that nearly three out of four consumers — 73.3 percent — said they would cut back on ...
Base awards $6.9B F-22 contract
The Air Force Life Cycle Management Center at Wright-Patterson has awarded a contract for up to $6.9 billion to Lockheed-Martin Aeronautics Co. to modernize the F-22 Raptor stealth fighter jet, the Air Force announced Wednesday.The work will expand the type of weapons the aircraft can carry, add multi-spectral sensors, improve ...
Investment expert: Economy halfway through healing process
The “strange, limping, half-recovery” the economy is experiencing comes from the type of recession that the nation went through, a Fifth Third Bank investment expert told a business crowd Thursday morning.The 2007 to 2009 recession that seized the United States is called a financial panic — initiated by an excess ...
Home sales start 2013 strong
Home sales figures for January show a strong rise in activity and prices to start the year.All major Ohio metros reported Thursday higher home sales in January from the year before. It was the best January for number of homes sold since 2007 in Dayton and Cincinnati, according to realtor ...
AK Steel vice president to retire
AK Steel Corp. announced Wednesday that Lawrence Zizzo, vice president of human resources, has elected to retire after 35 years in the steel industry.Zizzo, 64, has spent nine years with AK Steel, joining the company in 2004 in his current position. He retires effective March 31.Prior to AK Steel, Zizzo ...
Stories for Wednesday, February 20
Ohio sets record for new business filings
More new companies chose to do business in Ohio last year than in any other year in the state’s 209-year history, Secretary of State Jon Husted said Wednesday. In total, 88,068 new entities filed to do business last year, Husted said. New business filings are classified as forms that declare ...
Cincinnati Children’s buys back land in Butler County
Cincinnati Children’s Hospital Medical Center has repurchased 15 acres of land in Liberty Twp. for approximately $3.7 million, hospital officials said.The land is along Yankee Road near Cincinnati Children’s Liberty Campus, a hospital that opened in Butler County in 2008.Cincinnati Children’s sold the land in 2006 to another Cincinnati health ...
Office supply chains agree to merge
NEW YORK (AP) — Office Depot Inc. and OfficeMax have agreed to merge in an all-stock deal that would transform the $21.2 billion office supply retail sector.Boca Raton, Fla.-based Office Depot Inc. and Naperville, Ill.-based OfficeMax say holders of OfficeMax shares will receive 2.69 shares of Office Depot for every ...
Warren County winery expands distribution to Kentucky
HAMILTON TWP., WARREN COUNTY — Valley Vineyards has expanded its sales footprint: its wines will now by available in 15 counties in northern Kentucky.The winery south of Lebanon has signed a distribution agreement with Buckeye Distributing, which also distributes Valley Vineyard wines to retail outlets in Ohio, according to Joe ...
Boeing looking at short-term fix to battery problem
By Dominic GatesThe Seattle TimesSEATTLE — Boeing Co. will propose to regulators as early as this week a short-term fix to bolster the 787’s defenses in case of battery fires like those that have kept the jet grounded for the past month.The goal is to get the planes flying passengers ...
Stories for Tuesday, February 19
Stock continue rise; S&P 500 hits 5-year high
NEW YORK (AP) — Talk of more deal-making is sending stock prices higher, setting the market up to continue a seven-week rally.Reports that Office Depot and OfficeMax are discussing a merger come after several big corporate deals were announced in recent weeks. OfficeMax soared 20 percent, while Office Depot rose ...
New wine bar, wine shop coming to Oxford
OXFORD — A new wine bar to be called Cru Wine Bar and Shop is in the works in Oxford.Owner Mike Patterson said Cru will be an extension of Patterson’s Cafe at 103 W. Spring St., utilizing 2,300 square feet of adjacent space in the Stewart Square Shopping Center that ...
Kings Island parent earnings lifted by higher guest spending
Ohio amusement park operator Cedar Fair Entertainment Co. rode higher guest spending and strong park attendance to record revenues in 2012, the company reported Tuesday.But the fourth quarter was tough. The net loss for the quarter ballooned to $10.4 million, hurt by a drop in admissions revenue and lower sales ...
Local winery expands distribution into Kentucky
HAMILTON TWP., Warren County — Valley Vineyards has expanded its sales footprint: its wines will now by available in 15 counties in northern Kentucky.The winery south of Lebanon has signed an agreement with Buckeye Distributing , which will distribute Valley Vineyards wines such as its Honey Mead and its White ...
Stories for Friday, February 15
US factory output falls on weak auto production
By Martin CrutsingerAP Economics WriterWASHINGTON (AP) — U.S. factories slowed production in January after two solid months of cranking out goods. The weakness mainly reflected a big drop in output at auto factories that is likely temporary.Manufacturing output fell 0.4 percent in January from December, the Federal Reserve said Friday. ...
Mall owner’s profits fall
The owner of two Dayton area mall properties saw a wider net loss in 2012 even though revenues and occupancies are up.Columbus-based Glimcher Realty Trust reported Thursday a full-year 2012 net loss to shareholders of $30.5 million. In the year prior, Glimcher had a $5 million net loss.Glimcher Realty owns ...
SEC opens investigation into Heinz deal
By Associated PressNEW YORK (AP) — Federal regulators have opened an insider trading inquiry on the $23 billion acquisition of H.J. Heinz, according to a publish report.Citing an unnamed source who was briefed on the matter, The New York Times reported Friday that the Securities and Exchange Commission is looking ...
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