A Cuyahoga Falls advertising agency, TRIAD Communications Inc., will receive $125,000 from the Ohio Department of Transportation in a settlement of a breach of contract complaint involving advertising at 10 roadside rest areas.
TRIAD and SFC Graphics of Toledo alleged that ODOT backed out of a deal, struck in 2012, that gave them exclusive rights to market and sell advertising at the rest areas.
TRIAD and the graphics company said in separate complaints, filed with the Ohio Court of Claims earlier this year, that ODOT breached the contract when it allowed the Ohio Division of Travel and Tourism and the Ohio Development Services Agency to also solicit advertising for the rest areas.
TRIAD and SFC Graphics also alleged the state’s travel and tourism division and the Development Services Agency contacted advertisers using displays created by TRIAD and SFC Graphics and told them to switch to the travel and tourism ad program.
TRIAD and the SFC Graphics said in the complaints that they invested $168,000 to install and maintain the advertising displays.
The Ohio Court of Claims said Monday that it had approved a roughly $170,000 settlement between ODOT and the two companies. ODOT agreed to pay TRIAD $125,000 and SCF Graphics about $45,000.
The dispute grew out of a March 2012 request for proposal issued by ODOT for exclusive advertising and sponsorship rights at the rest areas in exchange for a percentage of the ad revenues.
As part of the settlement, ODOT does not admit to any wrongdoing, and all parties agree to not make additional claims against the other.
The Court of Claims has exclusive jurisdiction over claims against the state.
Summa Health and its minority owner, Mercy Health, are part of a new “network of networks” called Advanced Health Select.
Summa and Mercy Health will invest $100 million over three years in what they said will be “the largest clinically integrated network in Ohio.”
The two health systems said Advanced Health will improve chronic care management and lower the total cost of care for patients and communities.
Summa’s NewHealth Collaborative and Mercy Health Select, both accountable care organizations, are the first provider networks to join Advanced Health Select.
“They will continue to provide the outstanding care within their local markets guided by their distinct mission and vision,” the health care providers said in a news release. “But now more than 2,800 providers in Ohio and Kentucky will all be linked in a single ‘network of networks.”
Advanced Health Select will use advanced data analytics and technology support, the health organizations said.
Summit County’s unemployment rate dropped slightly to 4.2 percent in October from 4.3 percent in September.
The county’s rate a year ago was 4.9 percent.
Akron’s jobless rate rose a bit to 4.9 percent last month from 4.8 percent in December and was down from 5.7 percent a year ago.
The jobless rate in Cuyahoga Falls was 3.9 percent in October, unchanged from September and down from 4.5 percent in October 2014.
Unemployment rates fell in 45 of Ohio’s 88 counties for October, the Ohio Department of Job and Family Services reported Tuesday. Rates increased in 23 counties and were unchanged in 20 counties.
County unemployment rates ranged from a low of 2.8 percent in Mercer County to a high of 8.1 percent in Monroe County.
Rates were not adjusted to take into account seasonal factors. The comparable Ohio unemployment rate last month was 4.2 percent while the U.S. rate was 4.8 percent.
Unemployment rates elsewhere in Northeast Ohio for October, September and October 2014:
• Cuyahoga County: 4.4, 5.1, 5.5
• Cleveland: 5.6, 6.3, 6.9
• Medina County: 3.3, 3.9, 4.3
• Portage County: 4.2, 4.2, 4.7
• Stark County: 4.6, 4.7, 4.8
• Canton: 5.2, 5.3, 5.9
• Wayne County: 3.4, 3.5, 3.8
Signet Jewelers Ltd. [NYSE: SIG] of Akron, whose brands include Jared, Kay and Zales, reported third-quarter earnings of $15 million, or 19 cents a share, on Tuesday, compared with a loss for the quarter last year.
Meanwhile, adjusted earnings of 33 cents a share for the quarter ended Oct. 31 fell below analysts’ expectation.
For the same quarter last year, the company reported a loss of $1.3 million.
Sales for the just ended quarter totaled $1.22 billion, up from $1.18 billion for the year-ago quarter, but falling below analysts’ expectations of $1.23 billion.
Signet forecasts that for the current quarter ending in January, its per-share earnings will range from $3.40 to $3.60.
Mark Light, Signet CEO said in a prepared release that the company “delivered another quarter of continued growth, highlighted by a same store sales increase of 3.3 percent and adjusted earnings per share growth of 57.1 percent.”
Same-store sales are those for stores open at least a year.
He said the integration of Zale into the company “continues to go well and we will deliver $30 million to $35 million in net synergies this fiscal year.”
Signet earlier said the synergies would come from cost savings, as well as through “selling synergies” — Signet and Zale teaming up to sell merchandise.
Signet completed its purchase of Zale Corp. of Irving, Texas, in May of last year.
With the purchase, Signet became the largest operator of jewelry stores in the United States, the United Kingdom and Canada with about 3,500 stores.
Signet’s headquarters are on Ghent Road in Akron. The company employs roughly 3,000 in the Akron area.
Signet previously used the Sterling name to identify its U.S. operations. Now, the company is operating all of its divisions under the Signet banner and is listing Akron as its base of operations.
Signet shares are up about 7 percent since the beginning of the year.
Three individuals and one organization were awarded the Impact Awards by the Margaret Clark Morgan Foundation last week for their work in supporting the service of the foundation's mission.
The winners were Christine Meneer of Ballet Theater of Ohio, Nelson Burns of Coleman Profesional Services, retired Ohio Supreme Court Justice Evelyn Lundberg Stratton and Leadership Akron (accepted by organization President Mark Scheffler).
Here is the press release in its entirety:To read more or comment...
By Jim Mackinnon
Beacon Journal business writer
Diebold Inc. is buying Germany’s Wincor Nixdorf for $1.8 billion including debt, creating what will be a $5.2 billion ATM manufacturer and financial services software company named Diebold Nixdorf.
Green-based Diebold on Monday said it will pay cash plus Diebold shares for Wincor Nixdorf.
The combined company will operate from headquarters in Green and Paderborn, Germany. Diebold in October said it was looking to purchase the company.
“The rate of change we see in our industry is unprecedented, and by leveraging innovative solutions and talent from both organizations we will have the scale, strength and flexibility to help our customers through their own business transformation,” Andy W. Mattes, Diebold president and chief executive officer said in a statement.
Mattes will remain the CEO of the company.
“Our new company will be well positioned for growth in high-value services and software – particularly in the areas of managed services, branch automation, mobile and omnichannel solutions – across a broader customer base,” Mattes said. “This combination was made possible through the successes we have had and continue to create in the Diebold 2.0 transformation plan. We have a history of collaboration with Wincor Nixdorf, and our shared approach will help drive a successful integration and minimize disruption. I am very excited about the many opportunities we will create together.”
The two companies share a complementary geographic reach, with Diebold stronger in the Americas and Wincor Nixdorf stronger in Europe.
The boards of both companies have agreed to the purchase. Diebold expects its offer for Wincor Nixdorf shares to start in the first quarter of 2016.
In addition to cash, Diebold said it expects to raise approximately $2.8 billion to fund the transaction, refinance existing debt of both companies and provide liquidity.
The purchase is subject to regulatory approval in the U.S. and in Europe.
A German newspaper in June first reported that Diebold was looking to purchase Wincor Nixdorf.
Diebild in late October said it was selling its North American electronic security business for $350 million to Sweden-based Securitas. The headquarters of what will be renamed Securitas Electronic Security will remain in Green.
Shares of Diebold were down $3.03, or 8.1 percent, to $34.48 as of 11:55 a.m.
Jim Mackinnon can be reached at 330-996-3544 or email@example.com. Follow him @JimMackinnonABJ on Twitter or www.facebook.com/JimMackinnonABJ. His stories can be found at www.ohio.com/writers/jim-mackinnon.
Akron marketing and communications company Hitchcock Fleming & Associates is the only Ohio agency to be named one of the 50 Best Places to Work in Advertising in the United States by Advertising Age.
Hitchcock Fleming & Associates, with 90 employees, placed 15th overall based on criteria such as hiring practices, benefits packages, salaries, office perks, workplace environment and design.
Agencies first nominated themselves for the list. Then New York-based Buck Consultants developed two surveys with Ad Age’s input. More than 21,000 employees from agencies in cities big and small were surveyed. The employee survey accounted for 60 percent of the score, while the employer survey accounted for 40 percent.
Clients of Hitchcock & Fleming (hfa), celebrating its 75th year, include Goodyear Tire & Rubber Co., LP Building Products (part of Louisiana-Pacific Corp.), and PPG.
In 2012, the agency invested in a major renovation and expansion of its offices at 500 Wolf Ledges Parkway, near the University of Akron and downtown.
The expansion of the brick building — a former warehouse adjacent to railroad tracks — brought the building to more than 19,000 square feet.
Chuck Abraham, Hitchcock Fleming managing partner and CFO, said in a prepared statement, “To be named one of the 50 best advertising and media work places in America by such an esteemed organization as Advertising Age is very humbling. We feel very honored.”\
LG Fuel Cell Systems, Inc. will start the new year with a new president and chief executive officer.
The North Canton venture company will be headed by Rolls-Royce Group executive Andrew Marsh starting Jan. 1. LG Fuel Cell Systems, jointly owned by LG Corp. and Rolls-Royce Group, has about 90 employees and is developing a natural gas-fueled fuel cell.
Marsh has worked for Rolls-Royce for more than 10 years, most recently as president of Marine Services. Prior to joining Rolls-Royce, Marsh was president and chief operating officer of Walker Magnetics Group Inc.
Marsh has a bachelor’s degree in mechanical engineering and a master’s degree in manufacturing engineering.
Ohio’s unemployment rate dropped slightly to 4.4 percent in October from 4.5 percent in September.
The U.S. unemployment rate last month was 5 percent, down from 5.1 percent in September and down from 5.7 percent in October 2014.
Rates were adjusted to take into account seasonal factors. Ohio’s unadjusted unemployment rate for October was 4.2 percent, while the unadjusted U.S. rate was 4.8 percent.
The number of people counted as working in the state rose by 30,800 from September to 5,427,200 in October.
The number of people counted as unemployed fell by 5,000 from September to 249,000 last month.
Last month’s unemployment figure is well off the low for the month of October going back to 2000. The low was in 2009, when 5,227,000 people were counted as working in Ohio and the jobless rate was 10.8 percent.
The peak for the month of October over the last 15 years was in 2006, when 5,643,000 people were counted as working and the state’s unemployment rate was 5.5 percent.
Akron-based banking firm FirstMerit Corp. will pay a quarterly cash dividend of 17 cents per share on Dec. 21 to shareholders of record on Nov. 30.To read more or comment...
The Timken Co. will start building its second bearings factory in Romania in early 2016.
The Jackson Township manaufacturer said the new plant will be built near Ploiesti, Romania, about 35 miles north of Bucharest.
The 161,500-square-foot factory will make tapered roller bearings up to 300 mm in diameter (nearly 12 inches) starting in early 2017 and initially have 120 workers. The bearings will be sold on the global market for use in such things as industrial geardrives, construction and agricultural equipment, haul trucks and cranes.
Timken first started making bearings in Romania in 1997. The new plant is part of Timken’s strategic growth plan.
Apple Growth Partners in Akron said Monday it has given grants to four Northeast Ohio nonprofits through its charitable fund.
Agencies and their programs receiving money are Asian Services in Akron, for financial literacy classes; Reaching Above Hopelessness and Brokenness Ministries Inc. for its Back on My Feet program; The Twelve of Ohio Inc. for its independent living training; and the United Way of Trumbull County for activities aimed at financial empowerment of women.
Apple Growth, an accounting and business consulting firm, funds projects promoting financial literacy through its new Community Outreach Charitable Giving Fund, one of many funds at the Akron Community Foundation.
This was the first grant cycle for the Community Outreach Charitable Giving Fund.
WhiteSpace Creative, a marketing communications agency in downtown Akron, has selected seven local nonprofits to receive — for free — what the agency says is thousands of dollars worth of marketing services.
White Space staffers will work around the clock -- for 24 hours -- providing the services during the agency’s upcoming 24-hour “Pro Bono Creative Marathon.” The event will be Jan. 21-22, 2016.
WhiteSpace is among agencies across the country that participate in CreateAthon, started by a South Carolina-based agency, in 1998. WhiteSpace has been
been the exclusive CreateAthon agency for Northeast Ohio since 2002.
The area nonprofits who will receive the services are: The Arc of Summit & Portage Counties, an advocacy group for people with disabilities; The Center for Applied Drama & Autism, which offers drama training for children with autism; Community Health Center, which provides help to people fighting addition; Empower Sports. which offers sports and exercise programs to people with special needs; Fathers & Sons of Northeast Ohio, which offers fatherhood education classes and other programs, Highland Square Neighborhood Association, for the Akron group’s annual Porch Rokr Music & Art Festival; and Pawsibilities, Humane Society of Greater Akron.
They were chosen from among 16 organizations who each created a three-minute video about why the nonprofit needs and deserves the services. The Arc of Summit and Portage Counties won a community vote that took place in Oct, via the WhiteSpace Facebook page. Remaining participants were chosen by the WhiteSpace staff members.
Akron SCORE, the no-cost mentoring program for new and existing businesses, is offering a series of workshops this month.
All workshops are free, and are conducted by counselors certified by SCORE, the nonprofit Small Business Administration-affiliated organization.
Remaning workshops in November are:
* Starting Your Own Business, 5:30 to 8:30 p.m. Wednesday at the University of Akron’s Taylor Institute for Direct Marketing, 225 S. Main St., downtown Akron.
* Results Selling, 5:30 to 8:30 p.m. Thursday at the University of Akron’s Taylor Institute for Direct Marketing, 225 S. Main St., downtown Akron.
* Fundamentals of Writing a Business Plan, 8:30 to 11:30 a.m. Nov. 24 at the University of Akron’s Taylor Institute for Direct Marketing, 225 S. Main St., downtown Akron.
To register or for more information, go to www.akron.score.org or call 330-379-3163.
Akron SCORE serves Medina, Portage, Summit and Wayne counties.
Offices are at 175 S. Main St., Suite 204, Akron.
Investment ratings agency Moody’s Investors Service has affirmed Summa Health’s bond rating at Baa1. Moody’s also gave Summa a stable outlook.
Moody’s noted Summa’s improving operating margin, market position, strong investment position and manageable debt levels.
Moody’s also had a favorable view of Summa’s governance restructuring and said that under Tom Malone, its president and chief executive officer, the system has several senior executives with backgrounds in for-profit and health insurance companies.
“Our bond ratings underscore the thoughtful manner in which we operate our organization and the steps that we are taking to redesign the way we deliver care,” said Malone. “We are making significant progress as we move from a hospital company to a true population health management organization, progress that I believe ultimately will lead to healthier communities.”
Moody last reviewed Summa in November 2014. Fitch Ratings in June upgraded Summa’s bond rating from BBB+ to A-.
Retired Teamsters in Northeast Ohio facing pension cuts from the Central States Pension Fund are invited to a meeting 1 p.m. Sunday in Canton.
The informational meeting to discuss pension benefit reductions will be at the Teamsters Local 92 Union Hall, 1127 9th St. SW. Sponsor is the Teamsters Local 92 Retirees Club.
Guest speakers are Mike Walden, chairman of the Northeast Ohio Committee to Protect Pensions, and Ann Curry Thompson, a pension attorney from Detroit.
The Jackson-Belden Chamber of Commerce and the Canton Regional Chamber of Commerce are looking at whether it makes sense to merge or otherwise better collaborate.
The two organizations said that over the next several months, they will study ideas for collaboration, up to and including a potential merger “to create a sustainable and highly capable business development organization.”
They will bring in outside consultants as part of the process.
The two organizations have common goals and interests.
“The time is now for organizations such as the Canton Regional Chamber and the Jackson-Belden Chamber to think more strategically,” Dennis P. Saunier, president and chief executive officer of the Canton Regional Chamber said in a statement.
“These two chambers are poised to accelerate a concentrated effort for small business, manufacturing, retail and tourism assets in the region. They are also assessing the impact and supports needed to explore growing their common interests and base of local businesses that can contribute in benefitting the entire community,” Steven M. Meeks, president of the Jackson-Belden Chamber, said.
The latest phase of the Downtown Kent Revitalization Project celebrated a ground breaking today in Kent's downtown district.
The new 38,000 square-foot mixed-use building, called Avant 220, features apartments and stores and restaurants on South Depeyster Street. Developer Fairmount Properties celebrated with a ground-breaking event.To read more or comment...
Interested in being a utility line or substation worker?
Stark State College is hosting an informational session for students interested in FirstEnergy Corp.'s Power Systems Institute.
Students can graduate from Stark State College with a two-year associate of applied science degree in electric power utility technology on their way to a career in the electric utility industry.
An information session for FirstEnergy’s Power Systems Institute, a collaborative effort with Stark State College to train the next generation of electric linemen and substation personnel, is set for Saturday, Nov. 14, from 10 a.m. to noon in Stark State’s Business and Entrepreneurial Center, 6200 Frank Ave. NW in Jackson Township.To read more or comment...
Michelle Primm, managing partner of Cascade Auto Group in Cuyahoga Falls, was named to Automotive News’ list of 100 Leading Women in the North American Auto Industry.
Primm will be one of three speakers at a dinner tonight honoring the women named to the list. She will follow General Motors Chief Executive Officer Mary Barra.
Also named to the list was Alison Spitzer, president of Spitzer Automotive in Northeast Ohio.
Primm and Spitzer were two of only nine honorees in retail dealership operations, according to the Greater Cleveland Automobile Dealers’ Association.
United Steelworkers members today are planning to protest a lockout at ATI Flat Rolled Products steel and titanium plant in Louisville.
The USW rally is planned for 5 p.m. to 7 p.m. at the main entrance to the Louisville plant at 1500 W. Main St.
The Steelworkers say that more than 2,200 union members at 12 ATI plants in six states have been locked out since mid August. More than 120 members of USW Local 1046 are locked out of the Louisville plant.
The Stark County plant, northeast of Canton, makes cold rolled stainless steel and titanium sheets and strips.
A contract between ATI and the Steelworkers expired at the end of June. The company said it locked out the Steelworkers because of a lack of progress in contract negotiations.
Signet Jewelers Ltd. of Akron, [NYSE: SIG] the parent of Sterling, which operates Kay Jewelers, Jared the Galleria of Jewelry and other chains, said Friday that Uta Werner has joined Signet as its first chief strategy officer.
She will be responsible for “strategy development and execution and will be focused on the
identification of growth opportunities, strategic planning, and mergers and acquisitions,” Signet said in a news release.
She will report to Signet Chief Executive Officer Mark Light and serve on
Signet’s Executive Committee.
Werner’s other responsibilities include “monitoring long-term trends, gathering competitive intelligence, driving cross-business-unit initiatives, and
sustaining business model innovation,” Signet said.
She will report to Signet Chief Executive Officer Mark Light and serve on
Prior to joining Signet, Werner was executive vice president, global product leadership at Nielsen, the marketing research company headquartered in New York City.
Werner has more than 20 years of experience as an advisor to senior
management and investors, and prior to Nielsen was chief strategy officer of Xerox Corp., headquartered in Norwalk, Conn.
Werner has the equivalent of a master’s degree in mathematics and an MBA from the Technical University in Aachen Germany, as well as a Master of Public Administration from the John F. Kennedy School of Government at Harvard University, Signet said. She is a board member of Forte Foundation, which seeks to help women prepare for business careers.
OHTec and Akron Women in Tech are co-hosting a tech networking event Dec. 3 at The Bit Factory in downtown Akron to bring together tech entrepreneurs and IT practitioners.
The event will be held from 5:30 – 7:30 p.m., 526 S. Main St., Suite 511. Heavy appetizers, beer and wine will be provided.
“Akron’s tech community is growing strong and Akron Women in Tech is an important part of that growth,” said Brad Nellis, executive director of OHTec, the technology network of the Council of Smaller Enterprises, or COSE.
The informal event offers the opportunity to network, talk strategic partnerships, and to commiserate with like-minded people.
There is no formal agenda. OHTec and Akron Women in Tech, also known as Akron WiT, will share news on their respective organizations.
“Engaging our members with professionals in the tech community is an important part of our mission,” said Stephanie Baker, president of Akron WiT.
For more information, go here.
Goodyear says its new $1 billion debt offering and related redemption of $1 billion in higher interest debt will save the Akron tiremaker about $31 million in interest payments next year and beyond.
Goodyear Tire & Rubber Co. on Thursday said it will redeem on Dec. 7 all of its outstanding $1 billion in principal amount of 8.25 percent senior notes due 2020. The redemption price will be 104.125 percent of the principal amount of the notes being redeemed, plus accrued and unpaid interest, Goodyear said.
Goodyear will pay off the senior notes through the net proceeds of its new $1 billion offering of 5.125 percent in senior notes, due 2023, along with cash and cash equivalents.
Goodyear said it expects interest expense to range between $415 million and $425 million for 2015.
Low-cost carrier Allegiant Airlines will be launching its new twice-weekly nonstop flight to Southwest Florida's Punta Gorda Airport on Mondays and Fridays tomorrow.
Airport officials said the Southwest Florida and Fort Meyers area is popular with travelers.
The airport is celebrating its new service with a party and a "pack your bags" contest for some lucky contestants to try to win a flight tomorrow to Punta Gorda with hotel accommodations.
The destination is Allegiant's fifth since announcing service this year. The airline also flies year-round to Tampa/St. Petersburg and Fort Lauderdale and has serviceto Myrtle Beach and Savannah/Hilton Head seasonally.To read more or comment...
Futurist Thomas Frey is the morning keynote speaker this Friday, Nov. 6, at the inaugural “Made in Medina County” manufacturing expo.
The event, at the Medina County Fairgrounds Community Center, starts at 8 a.m.
Cost to attend the opening breakfast and keynote speech is $40.
Frey, senior futurist at the DaVinci Institute, is Google’s top-ranked futurist. His talk is scheduled to start at 9:30 a.m.
The rest of the expo, which features more than 40 Medina County manufacturers, is free and open to the public from 11 a.m. to 2 p.m.
Organizers say they expect more than 700 attendees.
Among the attendees will be more than 250 Medina County students who will meet with manufacturers, learn about careers, participate in hands-on demonstrations in 3-D printing from MAGNET, and visit Weld-Ed’s mobile welding lab.
Major event sponsors include Westfield Group, PNC Bank, Proximity Marketing and Shiloh Industries.
For more information and a complete list of manufacturing exhibitors and sponsors, go to www.MadeInMedinaCounty.com.
Goodyear Tire & Rubber Co. said it will pay off $1 billion in bonds paying 8.25 percent with 8-year senior, unsecured notes that pay 5.12 percent annually.
The Akron tire maker on Tuesday announced the pricing of $1 billion in new senior notes. The offering is expected to close on Nov. 5.
The net proceeds of the new offering, combined with cash and cash equivalents, will let the company redeem in full $1 billion in senior notes due in 2020 that pay 8.25 percent.
Rubber City Sports Group will manage the programming functions for the redeveloped, 20,000-square foot East End gymnasium, formerly the Goodyear Hall gymnasium off East Market Street, owner and developer Industrial Realty Group announced.
The reuse of the gymnasium is part of the East End project, IRG’s redevelopment of 1.4 million square of the former Goodyear campus.
The East End gym will open this fall with programming for futsal (a scaled down, indoor version of soccer), volleyball and basketball.
Rubber City Sports Group also will coordinate activities for the community and potential programming for Akron-area employees.
The East End gym may add evening programming for adults and second shift workers and daytime programming for senior citizens and traveling daycare programs.
The East End project included building and opening the new Goodyear global headquarters in 2013. IRG opened the Hilton Garden Inn in 2014 near the former Goodyear Hall, now home to the East End Residences, a 120-unit luxury apartment building.
For more on Rubber City Sports Group, go here.
For more information on the East End, go here.
The company that owns and operates Buehler’s grocery stores is continuing to expand its Ace Hardware division, opening its first ACE store in Cleveland.
The store is Buehler’s sixteenth ACE Hardware store and is at 3780 Rocky River Dr., the site of a former Fashion Bug shop, in the Kamm’s Corners area on Cleveland’s west side.
The Buehler’s and ACE Hardware owner and operator, E&H Family Group of Wooster, said Tuesday that store hours are Monday through Saturday 8:00 a.m. to 8:00 p.m. and Sunday 9:00 a.m. to 5:00 p.m.
The ACE Hardware will include a gift department as well as a garden center, which will offer such items and mulch, outdoor plants, Stihl power equipment and Crafsman lawn mowers.
The store offers Benjamin Moore and Valspar paints and Wooster brand painters’ tools. The tool department features hand and power tool brands from: Craftsman, Dewalt, Makita and Milwaukee.
Since 2011, the number of E&H’s ACE stores has more than doubled.
E&H owns and operates 15 Buehler’s Fresh Foods, including groceries in Summit, Medina and Stark counties.
4:53 p.m. update: Here is a link to the latest version of the story. Former Smucker executive Paul Smucker Wagstaff will be CEO of the new company:
Orrville-based food company J.M. Smucker said today that it is selling its Eagle Brand and private label sweetened condensed and evaporated milk business to a new company, which will be based in Akron.To read more or comment...
TimkenSteel Corp. in Canton faces fines of nearly $400,000 for alleged safety violations, including those found after 1,000 pounds of equipment fell on a worker earlier this year.
The seven-year employee could not work for several months after the incident in which he fractured his left foot and broke several bones, according to the Occupational Safety and Health Administration.
The equipment fell when a crane’s safety latch failed, OSHA said in a news release issued Tuesday.
OSHA said it issued TimkenSteel’s Gambrinus plant one willful, one repeated and two serious safety citations on Oct. 30 as a result of its investigation into the May 4 incident.
“This worker is lucky to be alive,” Howard Eberts, OSHA’s area director in Cleveland said in the news release. “We also observed conditions where workers could have fallen or lost limbs."
TimkenSteel said that over the last five years it has performed better than the industry average in the prevention of lost-time accidents.
“We have no higher priority than workplace safety,” the company said in a statement. “Our goal is for every employee to return home safely at the end of each workday, and so we’ve moved quickly to make corrective actions and will continue to work closely with OSHA to eliminate all issues.”
The injury occurred days after OSHA initiated an inspection at the company’s Harrison steel plant, also in Canton, under the Primary Metals Emphasis Program. The agency said it issued eight repeated, eight serious and one other-than serious violation at the Harrison plant.
TimkenSteel faces proposed fines of $393,500 for violations at the two plants and has been placed in the agency’s Severe Violator Enforcement Program, OSHA said.
TimkenSteel’s Harrison steel plant melts, rolls, produces and finishes steel, and its Gambrinus plant performs cold steel finishing.
The company has 15 business days from receipt of its citations and penalties to comply, request an informal conference with OSHA’s area director in Cleveland, or contest the findings before the independent Occupational Safety and Health Review Commission, OSHA said.
TimkenSteel was spun off from Timken Co., which has relocated to Jackson Twp., last year.
Goodyear Tire & Rubber Co. of Akron [NASDAQ: GT] said Monday it will sell $1 billion of unsecured, eight-year senior notes. Net proceeds, along with current cash and cash equivalents, will be used to redeem the company’s $1 billion in principal amount of 8.25 percent senior notes due in 2020, the Akron tire maker said.
The United States Department of Agriculture said Monday that 167,427 pounds of ground beef products produced by All American Meats Inc. of Omaha, Neb., is being recalled because it may be contaminated with E. coli bacteria.
The ground beef items —produced on Oct. 16 — bears establishment number “EST. 20420” inside the USDA mark of inspection. These items were shipped to retail locations nationwide, the USDA Food Safey and Inspection Service said.
Jim Trout, president of Acme Fresh Markets, the grocery chain headquartered in Akron, said Monday that Acme stores did not sell meat from the Nebraska company.
The problem with the ground beef was discovered on Oct. 30 when the Food Safety and Inspection Service (FSIS), through its testing program, traced a positive result for E. coli strain O157:H7 back to the Omaha company.
FSIS and the company are concerned that some product may be frozen and in consumers’ freezers, the USDA said.
There have been no confirmed reports of adverse reactions due to consumption of the products.
E. coli is a potentially deadly bacteria that can cause bloody diarrhea, dehydration, and in the most severe cases, kidney failure. The very young, seniors and people with weak immune systems are particularly vulnerable.
Consumers who have purchased the products are urged not to consume them. These products should be thrown away or returned to the place of purchase.
The products being recalled are:
-- 80-lb. (approximate weight) boxes of “Ground Beef 80% Lean 20% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 62100.
-- 80-lb. (approximate weight) boxes of “Ground Beef 73% Lean 27% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 60100.
-- 60-lb. (approximate weight) boxes of “Ground Beef Round 85% Lean 15% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 68560.
-- 60-lb. (approximate weight) boxes of “Ground Beef Chuck 81% Lean 19% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 68160.
-- 60-lb. (approximate weight) boxes of “Ground Beef Chuck 81% Lean 19% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 63130.
-- 80-lb. (approximate weight) boxes of “Ground Beef Chuck 81% Lean 19% Fat (Fine Grind)” with Sell By Date 11-03-2015 and case code 63100.
FSIS advises consumers to only consume ground beef that has been cooked to a temperature of 160 degrees. The only way to confirm that ground beef is cooked to a temperature high enough to kill harmful bacteria is to use a food thermometer that measures internal temperature, the service said. For more information, go to http://1.usa.gov/1cDxcDQ.
Consumers with questions regarding the recall can contact Shawn Buchanan at 402-734-690