Allie M. Designs, a women's clothing and personalized jewelry store, is moving from its downtown Akron location to West Akron.
Owner Allie Jackson said she's moving to Pilgrim Square on West Market from her location tucked in Maiden Lane next to Urban Eats and Musica in downtown Akron.
Jackson said the space is bigger and parking is better. She will open at her new store at 2229 W. Market St. on Monday. The new store will be open Monday through Saturday from 10 a.m. to 6 p.m. The phone number is 330-615-7995.
Downtown developer Tony Troppe said a new tenant has not yet been chosen for Jackson's former space, but he has a few interested parties. Jackson closed the downtown location earlier this week.To read more or comment...
A few new stores will be opening soon in Summit Mall.
VILLA, a fashion retailer which describes itself as fusing "the best of fashion and music into a high energy shopping experience, will be opening next month. VILLA primarily focuses on young adults "selling the best of fashion from head to toe or “cap to sneaks,” the retailer said.
VILLA will be located by Dillard’s Men, Children’s and Home in the mall. The store’s grand opening is planned for November 13-15, 2015.
As previously reported, Entertainment retailer f.y.e. for your entertainment will also be opening later this year in the Macy's wing.
Mr. Hero will also join the food court later this year.To read more or comment...
TimkenSteel’s newly announced $50 million cost-cutting plan will eliminate about 120 jobs, including 90 salaried positions, bringing job cuts this year to about 380.
The Canton specialty steelmaker is struggling as customers in some of its biggest markets have cut back.
The company on Thursday announced it lost more than $30 million in its third quarter and anticipates another loss for the fourth quarter.
TimkenSteel executives on Friday told industry analysts that the latest round of job cuts will account for less than a quarter of the expected $50 million in savings for 2016. The $50 million cost-cutting program comes on the heals of other cost-cutting initiatives announced earlier this year intended to save $25 million annually.
The new job cuts – about 90 salaried and 30 elsewhere –will come through voluntary and involuntary layoffs.
Reduced spending will account for about half, or $25 million, of the savings, with changes in manufacturing expenses to save about 30 percent of the total, said Tim Timken, president, chief executive officer and chairman.
“We challenged the entire organization to think differently about how we spend our shareholders’ money,” Timken said in an opening statement to analysts. “We are taking the right actions not only to get us through this trying time but to emerge even stronger.”
TimkenSteel has been hurt by low oil and gas prices that have reduced demand for its steel, along with slow commodity markets and industrial machinery markets. But the company said the automotive side of its business remains at near record levels, driven by companies introducing new engines and transmissions.
FirstEnergy Corp. on Thursday reported its profit for the third quarter rose 18.6 percent.
The Akron-based electric utility said its earnings for the third quarter were $395 million, or 94 cents per share on revenue of $4.1 billion That compares to $333 million, or 79 cents per share for the same period a year ago on revenue of $3.9 billion.
The company also raised and narrowed its full-year 2015 operating earnings guidance to $2.67 to $2.75 per basic share, from its previous range of $2.40 to $2.70 per basic share.
"Our strong third quarter results reflect a solid performance across all three of our businesses – Regulated Distribution, Regulated Transmission, and Competitive Energy Services," said Charles E. Jones, FirstEnergy president and chief executive officer in a prepared statement. "This quarter we also made tremendous progress on our initiatives to create a strong and flexible framework for our company that will allow us to achieve stable, predictable and customer-service driven growth in our regulated operations."To read more or comment...
People interested in applying for a job at the new Northside Courtyard by Marriott in downtown Akron can attend what is being billed as a “hiring event” from 10 a.m. to 1 p.m. Tuesday at the Akron Urban League, 440 Vernon Odom Blvd.
The Urban League’s Workforce Development department is hosting the event. The hotel is set to open Nov. 17. It is the first new hotel to be built in downtown Akron in decades. The hotel is owned by area development company Testa Cos. and Concord Hospitality Management Group of Raleigh, N.C. Concord Hospitality is managing the property.
Marriott Hotel staff will discuss the application process and conduct on-site interviews. Applications are available for a range of jobs, but the hotel is particularly in need of lead cooks and bistro servers, according to a news release issued by the Urban League.
The Urban League said the release that its employment specialists can help job seekers with preparing resumes and preparing for interviews. To schedule an appointment with an employment specialist, call 330-434-3101.
Shares of Myers Industries Inc. were getting clobbered in early trading Thursday even though the Akron plastics and rubber manufacturer and tool distributor in some ways reported better third quarter financial results compared to a year ago.
Myers Industries reported net income of $2.8 million, or 9 cents per share, on revenue of $141.7 million for the third quarter ending Sept. 30.
That compares to net income of $2.3 million, or 7 cents per share, on revenue of $162.1 million a year ago.
Myers Industries missed analyst expectations on both earnings and revenue. The company said it continues to expect “headwinds” in the fourth quarter but also anticipates profitability to improve from a year ago.
Shares were down $1.36, or 9.2 percent, to $13.38 as of 1:59 p.m. Shares fell as low as $12.04 in early morning trading. Shares are down 23.6 percent since Jan. 1 and are down 6.3 percent from a year ago.
Overall sales were hurt in large part by weakness in Myers’ material handling segment’s agricultural market and a strong dollar, the company said.
“Excluding the impacts of foreign currency, we did see strong sales growth in other material handling products, including increases of products that serve food processing and automotive end markets,” John Orr, president and chief executive officer, said in a statement. “We are also pleased with our ability to drive profitability improvements in the business despite lower sales during the quarter.”
Diebold Inc. earned $21.7 million, or 33 cents per share, on revenue of $680.9 million for its third quarter ending Sept. 30, the company reported Thursday.
That compares to $33.1 million, or 51 cents per share, on revenue of $768 million a year ago.
The Green-based maker of ATMs and security systems also lowered its earnings and revenue outlook for the full year.
Diebold’s quarterly results missed analyst expectations both for earnings and revenue.
Shares were down 50 cents, or 1.4 percent, to $36.48 as of 12:38 p.m. Shares are up 5.4 percent since Jan. 1 and are down 2.5 percent from a year ago.
The expects full-year revenue to be down approximately 7 percent to 8 percent; the previous outlook called for revenue to be down 5 to 6 percent.
Diebold now expects to earn $1.03 to $1.16 per share compared to previous guidance of $1.09 to $1.33. Adjusted earnings per share will be approximately $1.75 to $1.85 compared to previous figures of $1.70 to $1.90 a share.
“We continue to make achievements in our Diebold 2.0 transformation journey, and our recent strategic announcements support our objective to become a truly services-led, software-enabled company,” Andy W. Mattes, Diebold president and chief executive officer, said in a statement. “Our operational performance for the third quarter was in line with our expectations.”
Goodyear shares fell Thursday morning even as the Akron tire maker reported better-than-expected net income for its third quarter, including record earnings for its North American tire unit.
Goodyear reported net income of $271 million, or 99 cents per share, on revenue of nearly $4.2 billion for the quarter ending Sept. 30. That compares to net income of $161 million, or 58 cents per share, on revenue of nearly $4.7 billion a year ago.
Goodyear’s net income beat analyst estimates while revenue fell short.
Shares were down $2.44, or 7.3 percent, to $30.91 as of 11:09 a.m. Prior to Thursday's drop, Goodyear shares had been trading at multi-year highs.
Goodyear reaffirmed its earnings outlook for 2015.
North American tire had record earnings of $323 million, up 54 percent from a year ago.
The company delivered 42.5 million tires in the quarter, up 1 percent from a year ago.
“We delivered outstanding earnings growth in the quarter and segment operating margin of more than 14 percent, overcoming macroeconomic challenges in some of our key international markets,” Richard J. Kramer, chairman and chief executive officer, said in a statement.
“Our strong momentum in North America continues,” Kramer said. ““Our third quarter results demonstrate continued sustainable earnings growth and our sharp focus on disciplined execution of our strategy in both strong and challenging markets. ... We now see full-year segment operating income tracking to $2 billion, which would be more than double what we achieved just five years ago.”
Shares of bearings maker Timken Co. were up strongly Wednesday after reporting strong third quarter earnings.
The Jackson Township manufacturer reported net income of $64.5 million, or 75 cents per share, on revenue of $707.4 million for the quarter ending Sept. 30. That compares to a loss of $21.9 million, or 24 cents per share, on revenue of $788 million a year ago.
Timken’s earnings and revenue beat analyst expectations.
Shares were up $1.87, or 6.5 percent, as of 1:56 p.m.. Shares are down 28.2 percent from Jan. 1 and are down 26.8 percent from a year ago.
The company said it expects year-over-year revenue to fall approximately 8 percent, in large part because of currency fluctuations.
Timken also expects to earn 65 to 70 cents per share in 2105. Adjusted earnings are expected to range from $2.05 to $2.10.
Jim Mackinnon can be reached at 330-996-3544 or firstname.lastname@example.org. Follow him @JimMackinnonABJ on Twitter or www.facebook.com/JimMackinnonABJ. His stories can be found at www.ohio.com/writers/jim-mackinnon.
Industry trends and forecasts will be the focus of a talk at 6:30 p.m. Thursday at the Hudson Library & Historical Society.
Jack Plunkett, CEO and Publisher of Plunkett Research Ltd. of Houston will discusses "The Next Boom – What You Absolutely, Positively Have to Know about the World between Now and 2025."
Plunkett is frequently interviewed as an expert source by such publications as The Wall Street Journal and Investor's Business Daily, local and regional newspapers and national columnists.
Plunkett will present as the Burton D. Morgan Entrepreneurship Series Distinguished Speaker.To read more or comment...
Profits at FirstMerit Corp. fell 7.6 percent, the Akron-based bank reported this morning.
Third quarter net income was $59 million or 34 cents per share, compared to $63.9 million or 37 cents per share for the same period a year ago.
“FirstMerit’s third quarter financial performance reflects success in our strategic focus on profitable organic growth across our markets. This past quarter we increased both our originated commercial and consumer loan portfolios while maintaining disciplined credit management. We also lowered expenses over the prior quarter and improved our efficiency ratio. Additionally, our solid results this past quarter supported a 6.25 percent increase in the quarterly dividend, which we announced in August,” said Paul Greig, Chairman, President and CEO of FirstMerit Corporation in a prepared statement.To read more or comment...
Diebold Inc. is wheeling and dealing internationally.
Shares of the Green ATM maker rose Monday, one day after the company 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, Securitas said. The business unit has about 200 employees, including 70 at the unit headquarters, in the greater Green area out of 1,100 employees in the U.S. The Green-area employees are expected to be retained but may relocate elsewhere in the Akron-Canton area at some point.
Securitas is an $8 billion global security systems company with headquarters in Stockholm.
Diebold shares closed up 61 cents, or 1.7 percent, to $37.47. Shares are up 8.2 percent since Jan. 1 and are up 2.3 percent from a year ago.
The Securitas news follows Diebold’s announcement Oct. 17, following months of rumors, that it intends to buy German ATM maker Wincor Nixdorf for $1.9 billion.
The Securitas deal is expected to close in early 2016, pending regulatory and other approvals. Securitas said the Diebold unit is the third largest commercia electronic security business in North America.
Diebold is still retaining its other security businesses that it says are related to its core financial market. That includes ATM security, anti-fraud card solutions, bank branch facility and drive-up systems, and related services, the company said in its announcement.
The piece of the business being sold to Securitas, Diebold Electronic Security, provided $330 million in revenue for the 12 months ending June 30, Diebold said.
Securitas will be getting Diebold’s intrusion, fire, video, access control and systems integration services, as well as monitoring, maintenance and other security-related services for commercial and financial markets, the company statement said.
Ten percent of the $350 million price is contingent on successful transference of certain customer relationships to Securitas, Diebold said.
Securitas will serve as Diebold’s preferred supplier for electronic security solutions in North America, which Diebold said “will help ensure a seamless transition for Diebold’s electronic security customers.”
“Given the transformation that is occurring in the self-service industry, this strategic decision will enable us to accelerate our own transformation and focus on the exciting opportunities we’re seeing for growth and innovation in that market,” Andy W. Mattes, Diebold president and chief executive officer, said in a statement.
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.
A new restaurant outside Summit Mall will host its grand opening on Monday.
BJ's Restaurant and Brewhouse, which built on an outlot of the mall on West Market Street and Ghent Road, will host its grand opening from 11 a.m. to midnight on Monday, Oct. 26th.
In a news release, the restaurant said it is known for deep-dish pizza, handcrafted brews in a variety of ales and lagers, and a warm, deep-dish cookie offered in a variety of flavors and topped with ice cream.
The restaurant is at 3265 W. Market St. in Akron.To read more or comment...
A. Schulman Inc. will relocate an engineered plastics line from an Akron factory and close three plants in Indiana as it integrates its Citadel Plastics purchase from earlier this year.
The engineered products line in Akron will be relocated to one of Schulman’s Evansville, Ind., plants. The Fairlawn-based polymer company this week said the move will allow it then to invest in the Akron facility to grow masterbatch products.
The move will give the Akron facility “much needed space” for the expanded masterbatch product line, Bernie Rzepka, Schulman’s president and chief executive officer, said in a conference call with industry analysts. The company will invest in the Akron facility, which already focuses on specialized products, he said.
Schulman is a resin maker and plastics compounder. It paid $800 million earlier this year for Citadel Plastics Holdings, a specialty engineered plastics company headquartered in Illinois with more than $500 million in annual revenue. The acquisition expands Schulman’s offerings beyond its original core products.
Production from three Evansville, Ind., plants will be consolidated into other Evansville facilities, the company said.
The company said it expects a total of 26 jobs to be cut.
The engineered plastic consolidation is expected to save Schulman about $9.5 million annually, with $4 million is expected in fiscal 2016 and the remainder in fiscal 2017.
Rzepka said other Schulman plants may close but did not offer specifics.
“I still feel we don’t need 58 plants at Schulman with our business, so there is absolutely more consolidation opportunities,” he said. “But there is a limit to everything.”
Marketing company TRIAD, of Cuyahoga Falls, has received two awards in an international competition that recognizes creativity in website design, video production and online marketing.
TRIAD received a gold W3 Award was presented for the United Way of Summit County website: http://www.uwsummit.org and a silver W3 Award for the Akron Rubber Development Laboratory website: http://ardl.com/.
Winners were selected from more than 3,000 entries.
Members of the professional group called the Academy of Interactive and Visual Arts (AIVA) judge the entries.
The Greater Akron Chamber business organization on Thursday said it opposes Issue 3, a statewide ballot measure that would legalize marijuana, echoing the Ohio Chamber.
The Greater Akron Chamber also said it supports a statewide ballot issue that aims to invalidate the amendment that would legalize marijuana.
The local chamber also said supports State Issue 1, which also is on the Nov. 3 ballot. Issue 1 was placed on the ballot by the Ohio General Assembly to create a new bi-partizan process to draw state legislative districts.
Issue 2, also placed on the ballot by the Ohio General Assembly, would prohibit monopolies from being added to the state constitution.
“Placing specific industry regulations doesn’t belong in Ohio’s Constitution, along with establishing preferential treatment for certain individuals or nonpublic entities,” the chamber’s president and CEO, Daniel C. Colantone, said in a news release.
Issue 3 calls for a monopoly for the commercial production and sale of marijuana for recreational and medical use in the state.
A small group of investors would control the 10 sites, one in Summit County, designated for growing and cultivating marijuana.
In August, the Ohio Chamber said it would provide $100,000 to oppose Issue 3 and $50,000 to support Issue 2. The Ohio Chamber also endorsed the redistricting issue.
Sales of homes locally and statewide rose in September, mirroring the national increase.
Home sales increased 10.3 percent from the same period a year ago in Summit County.
Across the state, sales adjusted for seasonal variations were up 12 percent from the number sold a year ago. The increase was the Ohio market’s13th consecutive monthly year-over-year gain, the Ohio Association of Realtors said Tuesday.
Nationally, sales jumped 4.7 percent last month to a seasonally adjusted annual rate of 5.55 million.
For a complete story, including data on home prices, see www.Ohio.com later.To read more or comment...
Two GOJO employees have been given awards for their work toward sustainability.
The first-ever Sustainability Changemaker award from Keep Akron Beautiful and the Summit of Sustainability have been awarded to Nicole Koharik, Global Sustainability Marketing Director, and Tom Marting, Facilities and Resource Management Director.
Koharik was awarded for her work on corporate sustainability programs and Marting for his product innovation for providing more sustainable packaging for hand sanitizing wipes.
Both were nominated by their peers, supervisors and sustainability experts in the county.To read more or comment...
Teamsters for a Democratic Union will hold is 40th annual convention starting Friday and ending Sunday at the Cleveland Airport Sheraton, 5300 Riverside Drive, next to Cleveland Hopkins International Airport.
More than 250 Teamster members and retirees from across the country will take part in educational workshops and strategy sessions aimed at finding ways to protect retirement security and rebuild the union’s power.
A main topic this year will be discussions on the struggling Central States Pension Fund, which is proposing to dramatically cut current pensions – in some cases by more than half – to remain solvent.
The TDU Convention will serve as a national gathering of Teamsters and pension activists.
Tim Sylvester, candidate for Teamster General President in next year’s International Union elections, will make an appearance.
For more information, call TDU at (313) 318-1071 or email firstname.lastname@example.org
The IRS is seeking volunteers to help low-income families and individuals, as well as seniors, in Summit County file their 2016 tax returns and, if they are eligible, claim the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC).
Most volunteer tax preparation sites will operate from mid-January through mid-April 2016. Some sites will remain open beyond the April 18, 2016 tax return filing deadline.
Volunteers receive training on income tax preparation from IRS-certified instructors or via online courses. Volunteers become certified when they complete the required training.To read more or comment...
GoBus, a state-supported bus transportation program that connects urban and rural areas in Ohio and part of West Virginia, has added routes that impact Akron riders.
Akron is part of a once-daily round-trip route from Cleveland to Athens and from Cleveland to Charleston, W. Va. The route is in partnership with Barons Bus Lines.
Buses stop at the Greyhound station, 631 S. Broadway in Akron.
The cost depends on the destination. By way of example, cost of a one-way ticket from Akron to Canton on the route or from Akron to Broadview Heights is $5, while round-trip fare between Akron and Athens is $40. The buses stop at other cities along the way.
GoBus has 31 stops in Ohio. For more information, including times when the Akron buses leave and arrive, go here.
California-based circuit board maker TTM Technologies Inc. will close its Cuyahoga Falls plant and lay off more than 70 people starting later this year as it consolidates operations following a major acquisition.
At least some Falls employees will be relocated to a newly acquired plant in North Jackson Township in Mahoning County, the company said.
The Ohio Department of Job and Family Services released the layoff notice on Tuesday; TTM issued a press release on Sept. 29 announcing the closures.
The first layoffs are expected no sooner than Dec. 21, with final layoffs taking place in April, the company said.
“We are making every effort to transfer employees to the North Jackson facility,” the letter to the state said. “We are currently in the process of determining which employees will be terminated and while will be offered the opportunity to transfer.”
Employees who are not transferred to North Jackson will be eligible for separation and other benefits, the company said.
In its Sept. 29 announcement, TTM said it will combine manufacturing operations in Ohio and Milpitas, Calif. with nearby TTM locations. It will also close a plant in Mexico. The process will take three to six months, the company said.
The closures follow TTM’s $950 million acquisition, including debt, on May 31 of Viasystems Group Inc., another printed circuit board maker. The now combined company has about 30,000 employees globally.
TTM said the moves will result in 550 job cuts and result in about $16.5 million in annual cost savings. The company said it will record one-time closing-related charges of $15 million to $20 million.
The decisions on which plants to close followed “extensive operational and financial analyses,” TTM’s letter to Ohio said.
TTM, a publicly traded company, has annual revenue of about $2.5 billion. Shares as of 2:23 p.m. Wednesday were down 13 cents, or 1.9 percent, to $6.83. Shares are down 9.3 percent since Jan. 1 and are up 13.8 percent from a year ago.
Fairlawn polymer company A. Schulman Inc. on Tuesday reported net income of $21.8 million, or 74 cents per share, on revenue of $674 million for its fourth quarter ending Aug. 31.
That was higher than a year ago, when net income was $15.2 million, or 52 cents per share, on revenue of $627.4 million.
For the full year, Schulman reported net income of $24.2 million, or 82 cents per share, on revenue of $2.4 billion, below results from the previous year. For fiscal 2014, Schulman had net income of $56.2 million, or $1.91 a share, on revenue of $2.5 billion.
For fiscal 2016, Schulman said it expects to have adjusted net earnings per share of $2.80 to $2.85.
Summit County’s unemployment rate last month was unchanged from August and down from a year ago.
But behind the rates, state figures released Tuesday show that the number of people counted as working in the county in September was lower than in August month and also lower compared to a year ago.
Summit County’s unemployment rate was 4.3 percent in September, the same as in August and down from 5.2 percent in September 2014, according to the Ohio Department of Job and Family Services.
While Summit County’s unemployment rate was unchanged from August, there were 800 fewer people counted as working in September than in August.
And while last month’s unemployment rate was significantly lower than the 5.2 percent reported for September 2014, there also were 800 fewer people counted working last month than a year ago – 257,600 to 258,400.
That’s a sign that the county’s civilian labor force has shrunk. There were 9,200 more people counted as working in Summit County in September 2000 – 266,800 – when the rate was 4.1 percent than last month.
Akron’s unemployment rate last month was 4.8 percent, down from 4.9 percent in August and 6 percent a year ago.
The unemployment rate in September for Cuyahoga Falls was 3.9 percent, unchanged from August and down from 4.6 percent in September 2014.
Ohio’s comparable unemployment rate was also 4.3 percent last month. The U.S. jobless rate was 4.9 percent.
Rates were not adjusted to take into account seasonal factors. Ohio’s seasonally adjusted unemployment rate for September was 4.6 percent, with the U.S. rate at 5.1 percent.
Unemployment rates elsewhere in Northeast for September, August and a year ago:
• Cuyahoga County: 5.1, 5, 5.8
• Cleveland: 6.3, 6.3, 7.2
•Medina County: 3.9, 3.8, 4.6
• Portage County: 4.2, 4.1, 5.1
• Stark County: 4.7, 4.4, 5
• Canton: 5.3, 5.3, 6.2
• Wayne County: 3.5, 3.4, 4.1
Shares of Diebold Inc. rose nearly 7 percent Monday after the Green maker of ATMs and manufacturers said over the weekend it made a $1.9 billion offer for German ATM maker and rival Wincor Nixdorf.
Diebold shares rose $2.25, or 6.7 percent, to $35.80. Shares are up 3.4 percent since Jan. 1 and are up 0.8 percent from a year ago.
Diebold said its offer will be a combination of cash and stock. A non-binding deal was reached in September.
Acquiring Wincor Nixdorf would expand Diebold’s presence in Europe.
Richfield-based OEConnection LLC is expanding its RepairLink web-based service to vehicle dealerships and repair shops in Canada.
RepairLink allows dealers to provide mechanical repair shop customers with original equipment parts at competitive prices compared to aftermarket parts and prices. The technology is used by thousands of dealers and repair facilities in the United States.
OEConnection offers other related services in Canada.
A new entertainment store is opening in Summit Mall later this month.
f.y.e (for your entertainment), is owned by Trans World Entertainment and specializes in entertainment software, including music, video and video games and related products.
The company operates has more than 300 retail stores in the United States, the District of Columbia and Puerto Rico.
The store at Summit Mall will have a soft opening on Oct. 30 and grand opening on Nov. 6. It is in the Macy's wing.To read more or comment...
The annoying IRS scam calls are getting a relative.
Calls purporting to be coming from the U.S. Treasury’s office are also flooding consumer’s phone lines, the Canton Better Business Bureau said.
Both the IRS and U.S. Treasury’s office have warned consumers that the scam calls are not coming from their agencies.
The threatening calls often claim there are charges to be filed against them for nonpayment or a lawsuit or impending arrest.To read more or comment...
A fire at the Anthony Funeral Home on Main Street in Akron this week may force the 100-year-old family business to temporarily hold calling hours and services elsewhere.
David Anthony, president of Anthony Funeral Homes, said the fire apparently began in a space above the ceiling in a new room that houses the funeral home’s new cremation unit.
See www.Ohio.com later for a complete story.
The Hibbett Sports store chain of Birmingham, Ala., continues to expand in the region, with plans to open a store in Alliance in mid-November.
The sporting goods store will be at 2031 W. State St. and employ about eight full- and part-time workers.
Publicly traded Hibbett Sports Inc, and its subsidiaries operate more than 1,000 athletic retail stores in small to mid-size markets, primarily in the South, Southwest, Mid-Atlantic and Midwest regions of the United states.
The company’s stores are typically 5,000- square feet and are in strip centers or malls.
The company entered the Akron-Canton market about eight years ago, opening a store in Massillon.
The Alliance store will be the Akron-Canton region’s sixth location.
The Chapel Hill Square strip mall, off Buchholzer Boulevard across from Chapel Hill Mall, got a new, out-of-state owner just before the property was to be auctioned off.
The Akron strip mall was sold Tuesday to an unidentified buyer from Pittsburgh for more than $3 million, according to a principal with the commercial arm of realty firm Howard Hanna.
Chapel Hill Square had been scheduled to be auctioned off on Wednesday by the real estate firm.
But a buyer on Tuesday made an offer “too good for the seller to say no” and was accepted by the investment group that owns the site, said Michael Berland, principal and managing director at Howard Hanna Commercial and auctioneer with Chartwell Real Estate Auctions. The buyer put down a “hard” non-refundable down payment, he said.
A full story will be published in the Akron Beacon Journal and also at Ohio.com
A local contest that is a version of Shark Tank — the TV show in which entrepreneurs pitch their ideas to investors — is again underway.
In the third annual Pitch Night competition, organized by the Hudson Library & Historical Society, finalists will pitch their ideas in 10-minute presentations at a public event at 6:30 p.m. Nov. 17.
Prizes are $3,000 for first place; $1,500 for second and $500 for third.To read more or comment...
Case Farms is facing $424,600 in fines for worker safety and health violations at the company’s Canton chicken processing facility, including several that led a teenaged worker to suffer the amputation of his lower leg, according to the U.S. Department of Labor’s Occupational Safety and Health Administration.
The latest citations follow OSHA placing Case Farms in OSHA's severe violator enforcement program in August. This was after OSHA levied $861,500 in fines against the company relating to an investigation of Case Farm’s operations in Winesburg.
The Canton facility was previously owned by Park Farms. Case Farms, of Troutman, N.C., bought Park Farms in 2012.
OSHA said in a news release that the 17-year-old worker at the Canton facility, employed by cleaning subcontractor Cal-Clean, was cleaning a liver-giblet chiller machine on April 7 when he suffered the injury.
The teen has been unable to return to work due to his injuries, and he was fired after the incident, OSHA said.
OSHA said in the news release that Case Farms does not supervise the sanitation contractor employees working at it its facilities, but the company is responsible for exposing the Cal-Clean employee to operating parts of machinery because it failed to install safety mechanisms. OSHA also cited Cal-Clean, based in Greensboro, N.C., for failing to report the amputation to OSHA within 24 hours, as required.
OSHA said in another incident at the Canton plant a 24-year-old Case Farms employee was cleaning a fat sucker machine on March 25 when the operating parts of a plunger amputated the fingertips of his right middle and ring fingers. The machine should have been prevented from operating during the cleaning process, OSHA said. An employee for nearly a year and a half, the worker was suspended from his job for 10 days and subsequently fired.
In all, OSHA said, it found 16 violations involving the two incidents at the Canton facility on 30th St NE.
In 2013, Case Farms agreed to address safety violations in a settlement agreement with OSHA after an inspection found workers exposed to dangerous machinery and other hazards at its Winesburg facility, OSHA said. However, follow-up inspections led to the issuance of citations on May 28, and Aug. 13 of this year. Case Farms has contested all of the citations issued.
Ann Reusch, a Westfield Bank business banker who is involved in a host of community organizations, is the recipient of the 2015 Athena Leadership Award for Medina County.
The Athena Leadership Award is presented annually to a Medina County professional who demonstrates excellence, provides valuable service to the community and helps others attain leadership skills. Inspired by the goddess of Greek mythology, the local award is affiliated with Athena International, an organization founded in 1982 to support, honor and develop women leaders.
Reusch serves on the boards of Women’s Network of Northeast Ohio, American Red Cross of Medina, Summit and Portage Counties and Wadsworth Chamber of Commerce
She is also a member of the Greater Akron Chamber and its Knowledgeable Network of Women (KNOW), the Medina Chamber of Commerce and Leadership Medina.
Westfield Bank is an affiliate of Westfield Insurance. Both entities are based in Westfield Center in Medina County.
Reusch and her husband, Gene, have three children and live in Granger Township.
Mark McClellan, the only person to have headed the federal Food and Drug Administration and also the Centers for Medicare and Medicaid Services, is the keynote speaker Friday morning at Summa Health’s Population Health Symposium in Akron.
The free event, at Akron-Summit County Public Library, 60 S. High St., is open to the public.
The symposium will explore the state of healthcare reform and the impact of Summa Health’s transformation to a population health management company.
A continental breakfast will be available from 8 a.m. to 8:30 p.m., followed by the symposium that runs from 8:30 p.m. to 10 a.m.
The program will also include a panel discussion with Dr. McClellan, Dr. Brent Pawlecki, chief health officer at the Goodyear Tire & Rubber Co., Dr. Tom Malone, president and CEO of Summa Health, and Dr. Lydia Cook, president of Summa Physicians, Inc.
To register, go here.
Rare historical airship footage, made available to the public for the first time, will be shown at the University of Akron’s Polsky Building, South Main Street, 1 p.m. on Oct. 23.
The event is free and open to the public. Light refreshments will be served. Seating is limited.
The viewing of three historic airship films is hosted by Archival Services of University Libraries.
The films include rare footage of the construction, christening and operation of the U.S.S. Akron, a U.S. Navy rigid airship that was once called “the largest, strongest aerial creature ever fashioned and flown by man.” The Akron crashed off the coast of New Jersey on April 4, 1933, killing 73 crew members.
Some of the films also contain archival footage of the construction of the Goodyear Airdock, now known as the Akron Airdock, which Goodyear built to house colossal dirigibles.
The films are part of The Goodyear Tire & Rubber Company Records in Archival Services. They were transferred from their original nitrate motion picture stock to safety film and digitized through a grant from the National Film Preservation Foundation.
Archival Services collects, preserves and provides access to materials that primarily document the history of the University and the region. Public hours are Monday through Friday from 8 a.m. to 5 p.m.
Economic trends, including employment, housing and industrial activity will be discussed Nov. 6 at Greater Akron Chamber of Commerce breakfast event in Fairlawn.
Jon Park, CEO of Westfield Bank, and Rich Nash, Westfield Group's equity portfolio manager, will be the speakers at the event, dubbed Economic Outlook 2016, which will be at the Hilton Akron/Fairlawn, 3180 W. Market St. in Fairlawn.
Westfield Group, headquartered in Medina County, is the parent of Westfield Insurance and Westfield Bank.To read more or comment...
The TerraSource Global manufacturing plant on Munroe Falls Avenue in Cuyahoga Falls will be closed starting in December, with all 53 jobs to be lost.
The facility, which previously was known by the name Pennsylvania Crusher Corp., makes heavy duty machinery – up to 100 tons in weight – that crushes coal for use by electric power plants.
Parent company TerraSource, based in St. Louis, filed paperwork with the state saying that the closure will be permanent. The facility is at 601-607 Munroe Falls Ave.
“Employees affected by the closure will be laid off beginning on Dec. 11, 2015, and all layoffs will be completed in three phases,” the company’s WARN notice, dated Oct. 8, says.To read more or comment...
A full-day seminar featuring updates on Mexican/Canadian customs and the NAFTA (North American Free Trade Agreement) is being hosted by NEOTEC, the Kent-headquartered multi-county economic development group on Nov. 12 at the Crowne Plaza Cleveland South in Independence. FirstMerit Bank, headquartered in Akron, and International Risk Consultants are cosponsors of the event.
The seminar, also being hosted by the city of Mentor, will feature the consuls from Canada and Mexico, as well as a former Mexican customs audit official and legal representatives who are experts on Mexican, Canadian and U.S. rules and laws.
Registration for the seminar is at 7:30 a.m., with the program running from 8:00 a.m. to 4:45 p.m. The cost is $150 and includes a continental breakfast, buffet lunch, and seminar booklet. For details and to register, visit Upcoming Events on the NEOTEC web site, www.neotec.org.
NEOTEC, with offices on the campus of Kent State University, oversees two Northeast Ohio trade zones where companies can defer, reduce or avoid customs duties. It also administers the Global Trade Group, which provides global development services for area companies, as well as the Northeast Ohio Logistics Networks, which works to improve market access to Northeast Ohio.
A group of physicians throughout northern Ohio who joined forces to maintain their independence as hospitals continue to employ more doctors throughout the region continues to grow.
Nearly 300 new providers have joined the Ohio Independent Collaborative (OIC) with the addition of Columbus-based Central Ohio Primary Care (COPC), quickly growing the organization’s size.
“After our launch in August, the response to OIC has been overwhelmingly positive,” said Dr. Gary Pinta, OIC president. “The growth of the OIC strengthens our ability to work with larger hospital systems, and independent medical groups and physicians around the country are looking at us and seeing the advantages of collaboration.”
The group started with five large physician groups.To read more or comment...
Continued low fuel prices are driving higher sales of trucks and SUVs in Northeast Ohio, the Greater Cleveland Automobile Dealers Association reported Thursday.
Rising sales in September of new trucks and SUVs overcame a drop in new car sales for the month, the association reported. New car sales fell 3.2 percent from a year ago.
Overall, dealers in a 21-county region in northern Ohio sold 23,906 new vehicles last month, up 4.1 percent from 22,974 vehicles a year ago. Since Jan. 1, dealers have sold 192,476 vehicles, compared to 189,492 for the same period in 2014.
“We have seen double-digit growth in trucks and SUVs every month this year, but in the last two months we have seen growth above 20 percent,” Louis A. Vitantonio, president of the Greater Cleveland Automobile Dealers Association, said in a statement. “If there is no change in fuel costs, and leasing and finance remain attractive, there’s every reason we think this is a trend that will continue through this fall, especially with inclement weather right around the corner.”
Summit County new vehicle sales fell in September. Sales totaled 2,406, down 29, or 1.2 percent, from September 2014 sales, according to the Northeast Ohio Automobile Dealers Association.
Used vehicle sales in Summit County also dropped. September sales were 3,155, down 29, or 0.9 percent, from 3,184 a year ago.
RPM International Inc.'s quarterly dividend will be raised nearly 6 percent, the 42nd consecutive year the company has increased its dividend.
The Medina-based holding company, which makes coatings, adhesives and related products, on Thursday announced at its annual stockholders meeting that it will pay a quarterly dividend of 27.5 cents per share on Oct. 30 to shareholders of record as of Oct. 19.
That is a 5.8 percent increase over the 26 cent quarterly dividend paid a year ago.
Also at the annual meeting, five directors were elected to terms that expire in 2018.
The directors are:
• John P. Abizaid, senior partner of JPA Partners LLC.
• Bruce A. Carbonari, retired chairman and chief executive officer of Fortune Brands, Inc..
• Jenniffer D. Deckard, president and chief executive officer of Fairmount Santrol Holdings Inc.
• Salvatore D. Fazzolari, former chairman, president and chief executive officer of Harsco Corp.
• Thomas S. Gross, retired vice chairman and chief operating officer for the Electrical Sector of Eaton Corp.
From a Tuesday press release by FirstEnergy Corp.:
Work to Begin on New FirstEnergy Transmission Substation to Support West Virginia Shale Gas Industry
Mon Power Customers in Area Will See Enhanced Service Reliability
FAIRMONT, W.Va., Oct. 6, 2015 -- Final design and preliminary site work is underway for a new FirstEnergy Corp. (NYSE: FE) substation near Smithfield, W.Va., to help meet increased electrical usage in the area's rapidly expanding Marcellus Shale gas industry. The project also is expected to enhance service reliability for more than 6,000 Mon Power customers in Wetzel, Marion and Tyler counties.
The project is budgeted at approximately $63 million. The work includes building a new, two-mile transmission line to connect the new substation with a midstream natural gas processing facility expanding its operations and using more electricity. The new line will parallel an existing transmission line.
"FirstEnergy's infrastructure enhancements continue to help support the increased Marcellus gas activity in West Virginia," said Holly Kauffman, FirstEnergy's president of West Virginia Operations. "The energy-intensive natural gas industry continues to be a positive driver of the state's economy, and FirstEnergy and Mon Power are committed to upgrading our transmission system to meet the sector's growing demand for safe and reliable electric service."To read more or comment...
Local business and civic leader Joe Kanfer has created the 500th Akron Community Foundation fund, the head of the foundation revealed at a dinner honoring Kanfer Wednesday night.
“This fund will enable Pam, myself, and our four children to continue to demonstrate our passion and commitment to the Akron community,” Kanfer said in a news release issued by the foundation.
Kanfer is chairman and CEO of GOJO Industries, the Akron-headquartered maker of Purell hand sanitizer and other products..
John T. Petures Jr., president and CEO of the community foundation, revealed the creation of the fund at Wednesday dinner honoring Kanfer as the 48th Bert A. Polskly Humanitarian Award recipient.
The foundation annually honors an individual (or couple) with the award named for Bert A. Polsky, the founder of the former Polsky department store chain in Akron and a founding trustee of the foundation.
Kanfer’s long list of organizational ties includes: chairman of Akron Tomorrow; former trustee of the Jewish Community Board of Akron and the Lippman School; honorary chairman of Akron Children’s Hospital’s Building on the Promise campaign; past vice chair of the University of Akron’s board of trustees; and former trustee of the Shaw Jewish Community Center; and the Akron Roundtable.
Last year’s Polsky Award dinner also featured a charitable act involving the award recipient.
Rennick Andreoli, the president of RDA Hotel Management Co., gave each of the 500 people in attendance at the Polsky Award banquet an envelope containing $20 and asked them to pay it forward by selecting one of three charities listed on the envelope, or by writing in a fourth, to receive the money.
By the end of the night, the Akron Community Foundation had collected more than $20,000, because many people added more money to their envelopes before turning them in.
For the fiscal year ending March 31, donor-advised funds accounted for 23 percent of Akron Community Foundation’s overall assets, which reached an all-time high of $191 million, the foundation said. During the same fiscal year, the organization and its funds awarded a record $9.17 million in grants, $3.62 million of which came from donor-advised funds.
Akron area restaurateur Ken Stewart is closing his restaurant in the Flats East Bank in Cleveland, a little more than two years after the high-end place opened.
Stewart’s restaurant will close Saturday and on Tuesday, in its place, will open Bold Food and Drink, a new venture of the owners of two existing Cleveland area eateries.
The owners of Bold Food and Drink do not plan to change the look of the Flats East Bank space, but do intend to offer a menu featuring more affordable items, according to news reports.
Stewart, meanwhile, wants to focus on his Akron area restaurants, Ken Stewart’s Grille in West Akron and Ken Stewart’s Lodge and Tre Belle in Bath Township, the news reports say. He could not immediately be reached for comment.
Stewart’s Cleveland restaurant, at 1121 W. Tenth St., on the first floor of the 150-room Aloft Cleveland Downtown hotel.To read more or comment...
Goodyear Tire & Rubber Co. is increasing its quarterly dividend by 17 percent.
The Akron tire maker on Tuesday announced it is boosting the quarterly dividend from 6 cents per share to 7 cents. The increased dividend will be payable Dec. 1 to shareholders of record as of Nov. 2.
The dividend increase represents an annual rate of 25 cents per share for 2015 and 28 cents per share for 2016.
KNOW, a personal and professional development gorup for women through the Greater Akron Chamber is presenting its next quarterly luncheon. Here is information:
Join KNOW on Wednesday, October 28, 2015, for the next Quarterly Luncheon to hear to hear Iris E. Harvey, Vice President for University Relations, Kent State University, present “Leadership: Lean in With Purpose—Power Will Follow.”
Iris E. Harvey serves as the university’s chief strategist on branding, marketing and communications, regional development and corporate affairs. Since joining Kent State University in 2008, Iris has contributed to the university’s ranking as the second largest university in Ohio, helped quantify the annual economic impact of Kent State University to the State of Ohio as $1.9 billion and raised the global visibility of the university which contributed to its recognition as a “Top University in the World” by the Time Higher Education World University Rankings.To read more or comment...
A new road is to be constructed off White Pond Drive in West Akron to provide access to vacant land available for development.
The city of Akron issued a news release Friday saying that it had received federal funding to build White Pond Parkway, which would extend west of White Pond Drive, directly across from Pine Grove Drive.
The road will serve the new “development area” bordered by White Pond Drive, Frank Boulevard and Interstate 77, according to the news release.
The estimated construction cost is $2.2 million. It was unclear Friday how much federal funding had been received.
Construction is scheduled to begin this coming spring. .
The city said included in the project would be concrete curbs, sidewalks, as well as water and sewer infrastructure.
The city said it will accept comments on the project through Oct. 30. Comments can be mailed to Christine Jonke, project manager, at the City of Engineering Bureau, 166 S. High St., Room 701, Akron, Oh., 44308. Jonke can be reached by phone at 330-375-2015.
The McDonald's restaurant at 482 Howe Avenue in Cuyahoga Falls is reopening its doors Sunday after being closed for remodeling
The makover included redoing the exterior as well as the interior.
The McDonald's now has a double-lane drive-through, a flat-screen TV and digital menu boards.To read more or comment...
Goodyear Tire & Rubber Co. said Thursday that it and Sumitomo Rubber Industries Ltd. in Japan have dissolved a relationship that began with high hopes in 1999 and brought the Dunlop brand under the Akron tire maker’s umbrella.
The Akron-headquartered tire maker said in early June that it had reached an agreement to end the relationship.
The agreement covers four joint-venture operating companies — one each in North America and Europe and two in Japan. Goodyear retains the rights to the Dunlop brand in North America and in European countries where the former joint venture exclusively served the market. Goodyear also gets rights back to the Goodyear brand in Japan, including the ability to sell original equipment tires in that nation.
As part of a complex dissolution of the alliance, Goodyear agreed to pay Sumitomo $271 million by the end of this year, sell 3.4 million in stock in the company, also known as SRI, and repay $55 million in debt to SRI. Goodyear said in June that the deal does not impact its previously announced financial targets or its capital allocation plan.
The monthly natural gas price for residential customers who are on the Standard Choice Offer is going down again for October.
Effective Oct. 12, Dominion East Ohio's identical SCO/SSO rate will be $2.58 per thousand cubic feet (mcf). That's 8 cents or 3 percent lower than the September price of $2.66/mcf. The October rates are $1.83/mcf or 41.5 percent lower than the price a year ago of $4.41/mcf.
Under the company's filing, the average SCO/SSO residential customer's bill for the month of month of October 2015 would be $43, down $11.67, or 21.3 percent, from $54.67 a year ago.
All Dominion East Ohio residential customers also pay a total monthly charge of $24.83 for such costs as pipeline infrastructure replacement and automated meter reading.To read more or comment...
Low-cost carrier Allegiant Airlines will be launching its new twice-weekly flight to Fort Lauderdale from Akron-Canton Airport on Friday.
The airport is celebrating the new service with a party at the gate with mocktails and karaoke.
Flights will be on Mondays and Fridays for the year-round service.
The destination is Allegiant’s fourth since announcing service earlier this year. The airline flies year-round to St. Petersburg/Clearwater and will begin new service to Punta Gorda (Ft. Myers) on Nov. 6. It also services Myrtle Beach and Savannah/Hilton Head seasonally.To read more or comment...
Involta, the company that owns and operates data storage facilities, will break ground today (Thursday, Oct. 1) on an addition that will roughly double the size of its complex on Miller Avenue in South Akron.
Involta, headquartered in Cedar Rapids, Iowa, earlier added data storage capacity in Akron.
This is the first new construction at the facility since Involta entered the Ohio market in 2012, building the $17 million data center on Miller.
The highly secure concrete-block building — holding troves of computerized data for Involta customers — employed roughly 10 people earlier this year. Involta hosts customers’ data on its own equipment or houses equipment those customers own.
The opening of the data storage center on Miller was much ballyhooed, with city and county leaders saying they were thrilled to attract investment to a depressed, industrial area in South Akron.
Today, (Thursday, Oct. 1) area business and elected officials plan to celebrate Involta’s growth in Akron and the planned addition — which will total about 26,000 square feet.
With the addition, Involta has said, the company’s capital investment in Akron will total nearly $27 million.
In Ohio, Involta operates with data centers in Akron, Columbus and Youngstown.
In June, the company purchased Data Recovery Services LLC of Youngstown, which offers information technology consulting and “managed services.” This means customers outsource their IT infrastructure to DRS.
With the acquisition, Involta has nearly 200 employees, the majority of whom work in Ohio.
The acquisition of Data Recovery Services came about a year after Involta said it had received a $50 million infusion from private equity investors.
Involta LLC President Bruce Lehrman said last year that the investment would allow the company to grow.
Equity company M/C Partners of Boston led the group of private equity investors that includes Morgan Stanley Investment Partners.
Leaders of Davey Tree Expert Co., the shrub, tree and lawn-care business headquartered in Kent, and the U.S. Forest Service on Wednesday formally agreed to a partnership involving assessment of forests and expanding programs involving tree science and youth education involving trees, as well as strengthening connections between communities and their trees.
Davey’s chief operating officer and president of U.S. operations, Pat Covey, and U.S. Forest Service Chief Thomas Tidwell signed a memorandum of understanding at an event in Washington, D.C. The memorandum commemorates a 10-year history of working together, an effort that spurred the development of i-Tree. This mobile software program is designed to help urban natural resource managers and the general public better understand the benefits of trees.
Davey employs more than 8,000 people, including about 1,000 in Northeast Ohio, Davey is the 15th-largest 100-percent employee-owned company in the nation.