Business Stories for March 2013
Stories for Sunday, March 31
Beer seizes the spotlight
Entrepreneurs both inside and outside southwest Ohio are finding new and creative ways to tap into the surging thirst for craft beers. Local restaurant owners are launching beer tastings and dinners to help fortify their bottom line, national pub chains are jockeying to open new locations in southwest Ohio, and ...
Stories for Friday, March 29
Survey finds most credit unions offer free checking
A majority of the nation’s largest credit unions offer free checking accounts with no strings attached, but the number is declining, according to Bankrate.com.A survey of the 50 largest credit unions in the U.S. shows 72 percent offer free checking accounts.In 2010, 78 percent of credit unions offered free standalone ...
Restaurant industry barometer turns negative in February
Softer same-store sales and lower customer traffic levels drove the National Restaurant Association’s Restaurant Performance Index (RPI) below 100 in February, association officials announced Friday morning.The RPI – a monthly composite index that tracks the health of and outlook for the U.S. restaurant industry – stood at 99.9 in February, ...
Stories for Thursday, March 28
Dayton Habitat marks 30 years, kicks off fundraising campaign
Dayton Habitat for Humanity has three reasons to celebrate: 2013 marks the nonprofit’s 30-year anniversary of its founding; the group purchased a new building for operations; and it is kicking off a public fundraising campaign.On Nov. 30 2012, Habitat closed on the purchase of the former Xpedx building at 115 ...
REX reports net loss for quarter and full year
Shares of REX American Resources Corp. fell more than 6 percent Thursday after the company said its interests in seven ethanol production facilities were not profitable last year.The stock closed Thursday at $22.12, down $1.55, or 6.5 percent after REX reported a net loss of $4.4 million, of 54 cents ...
Economy grows, but oh-so slowly
By Martin CrutsingerAP Economics WriterWASHINGTON (AP) — The U.S. economy grew at a slightly faster but still anemic rate at the end of last year. However, there is hope that growth accelerated in early 2013 despite higher taxes and cuts in government spending.The economy grew at an annual rate of ...
Ohio is 33rd on study’s “freedom list”
Ohio is the 33rd “freest” state in the nation, an improvement of four spots from 2009, according to a university study released Thursday.The study from the Mercatus Center of George Mason University in Fairfax, Va. says Ohio should cut taxes and spending on public safety, administration, social services and government ...
Panera trying new pay-what-you-want experiment
By JIM SALTERAssociated PressOrder a bowl of turkey chili at a St. Louis-area Panera Bread cafe and it’ll cost you a penny. Or $5. Or $100. In other words, whatever you decide.Three years after launching the first of five pay-what-you-want cafes, the suburban St. Louis-based chain on Wednesday quietly began ...
Stories for Wednesday, March 27
Judge approves American-US Air deal
The $11 billion merger of American Airlines and US Airways won bankruptcy court approval Wednesday. The widely-expected decision by Judge Sean H. Lane helps clear the way for the two carriers form the world’s biggest airline, with 6,700 daily flights and annual revenue of roughly $40 billion. The merger, first ...
Stories for Tuesday, March 26
Housing, manufacturing give US economy lift
By Martin CrutsingerAP Economics WriterWASHINGTON (AP) — Gains in housing and manufacturing propelled the U.S. economy over the winter, according to reports released Tuesday, and analysts say they point to the resilience of consumers and businesses as government spending cuts kick in.U.S. home prices rose 8.1 percent in January, the ...
Most county jobless rates much lower than a year ago
Unemployment rates fell significantly in February from a year ago in most southwest Ohio counties as some jobseekers found work and others left the job market altogether, a spokesman for the state jobs department said.Butler County saw its jobless rate fall from 8.1 percent in February 2012 to 7 percent ...
Stories for Monday, March 25
Downtown Dayton office supply company going out of business
S&V Office Furniture & Supply at 341 S. Jefferson St. in downtown Dayton is going out of business, according to its owner, Thomas Randolph.The company was founded in 1954 by the current owner’s parents, Sam and Virginia Randolph, and has been in its current location for more than 30 years.Randolph, ...
Wall Streets falls despite Cyprus deal
NEW YORK (AP) — U.S. stock markets closed lower Monday, hurt by worries about Europe’s economy despite a bailout of Cyprus.The Dow Jones industrial average fell 64 points, or 0.4 percent, to 14,447 at the close of trading on Monday.The Standard & Poor’s 500 Index fell five points, or 0.3 ...
BBQ chain looking to expand in SW Ohio/Smokey Bones CEO has helped overhaul brand
The Smokey Bones restaurant chain is looking to expand in southwest Ohio and elsewhere in the country, its chief executive said during a visit to Dayton.Chris Artinian — who worked his way up the ranks to become CEO of Morton’s the Steakhouse chain before taking the helm at Smokey Bones ...
Dollar General 4Q profit rises, traffic improves
GOODLETTSVILLE, Tenn. (AP) — Dollar General’s fiscal fourth-quarter net income climbed 9 percent as more customers came in to its stores and shoppers spent more per transaction.The discounter earned $317.4 million, or 97 cents per share, for the period ended Feb. 1. That compares with $292.5 million, or 85 cents ...
Raytheon reorganizes, cutting 200 jobs
WALTHAM, Mass. (AP) — Defense contractor Raytheon Co. said Monday that it is reorganizing its business and plans to cut 200 jobs.The Massachusetts-based company said it is consolidating some of its business units to increase productivity and better meet customer’s needs. Raytheon said the reorganization will result in annual savings ...
Court decision benefits AK Steel
WEST CHESTER TWP. — A court decision last week confirms AK Steel didn’t infringe on a steel product patent, the Butler County steelmaker said Friday.AK Steel Holding Corp. said the United States Court of Appeals for the Federal Circuit denied, on March 20, ArcelorMittal’s petition for re-hearing in its patent ...
Stories for Saturday, March 23
Ohio unemployment rate remains at 7 percent
By Andrew Welsh-HugginsAssociated PressCOLUMBUS (AP) — While Ohio’s labor force is not growing at the preferred rate for an economic recovery, the number of unemployed people in the state is significantly lower than a year ago, the state said Friday as it announced monthly unemployment rates.Ohio’s seasonally adjusted unemployment rate ...
Kodak completes financing, on track to file reorganization plan
Kodak said Friday it has completed its $848 million in financing with members of its banruptcy steering committee and other noteholders and is on track to file a reorganization plan by the end of April.Kodak operates a digital printing press development plant in Kettering. The iconic company declared bankruptcy in ...
Stories for Friday, March 22
Japan remains Ohio’s top foreign investor
Japanese direct investment in Ohio includes 423 Ohio-based facilities that employ 65,690, a new annual survey from thethe Consulate General of Japan in Detroit said Friday.The survey said that although there was a slight decline in the overall facility number in the past year, 7,992 more residents were employed in ...
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