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Business news briefs — July 10

LOCAL BUSINESS

Chambers team with council

The Council of Smaller Enterprises, sometimes seen as a competitor to local chambers, is teaming with the Cuyahoga Falls Chamber of Commerce to offer a dual membership program to give discounts on memberships for both organizations.

COSE, a regional group headquartered in Cleveland with more than 14,000 members, offers group purchasing programs for health care, workers’ compensation and energy, as well as government advocacy efforts.

The Cuyahoga Falls chamber is among more than 15 Ohio chambers to team up with COSE on dual membership programs. The Hudson chamber also has joined with COSE to offer dual memberships.

The COSE-Falls partnership will be launched at a July 24 Falls chamber luncheon at Silver Lake Country Club.

Missy Klein, director of services for the Victim Assistance Program in Summit since 2009, will give a talk titled What To Do If Your Business/Employees Are Victims.

The event will begin at 11 a.m. at Silver Lake Country Club. Cost is $18 for members and $28 for nonmembers.

For more information about the dual membership program, call the Falls chamber at 330-929-6756 or email info@cfchamber.com or call COSE at 216-592-2355 or email membersales@cose.org.

Cuyahoga Falls shops saluted

Chew on this: Cuyahoga Falls city and chamber officials this month will celebrate two stores offering sweet treats.

One — Yum Yum Gum — opened last month. The other — Sugar-Luv Confections — has been open since December 2011 and is expanding its product line.

On Friday, officials will gather at a ribbon-cutting to celebrate the recent opening of the Yum Yum Gum Shop at 2595 State Road in the Falls. The event will run from noon to 1 p.m.

Yum Yum Gum offers more than 100 flavors of sugar free gum. It is owned by James Horak and Keith Saffles, who met when they were Akron firefighters. Horak is still with the department. The two have been selling gum online since January at www.yumyumgum.com.

On July 26, officials will participate in a ribbon-cutting ceremony to mark the product expansion at Sugar-Luv Confections, 410 Chestnut Blvd. This event is also from noon to 1 p.m.

The store sells homemade treats, including salted caramels, truffles and caramel apples. It’s in a former pizza parlor across from The Boulevard tavern/restaurant.

A selection of bakery items is featured each week, and craft beer, to pair with the various goodies, also is offered for purchase. It is owned by husband and wife Adam and Shannon Campbell of Brimfield Township. Both continue to work in IT. They have one Sugar-Luv employee.

— Katie Byard

WALL STREET

Dow Jones drops 8 points

The Dow Jones industrial average and the Standard & Poor’s 500 index were little changed after the publications Wednesday of meeting minutes from the Federal Reserve’s June conference revealed little new information about the direction of the central bank’s stimulus program.

The Dow Jones industrial average fell 8.68 points, or 0.06 percent, to 15,291.66. The Standard & Poor’s 500 rose 0.30 points, or 0.02 percent, to 1,652.62. The Nasdaq composite index rose 16.50 points, or 0.5 percent, to 3,520.76.

For the year: The Dow is up 2,187.52 points, or 16.7 percent. The S&P 500 is up 226.43 points, or 15.9 percent. The Nasdaq composite is up 501.25 points, or 16.6 percent.

BEQUESTS

Warren Buffett plans estate

Billionaire Warren Buffett is giving five charities more than $2.6 billion worth of Berkshire Hathaway Inc. stock as part of his plan to give away his fortune gradually.

The biggest block of Class B shares of Berkshire stock worth $2 billion is going to the Bill and Melinda Gates Foundation. Buffett also gave 1.75 million shares to his own foundation and 1.2 million shares to each of his three children’s foundations.

OBITUARY

Retail executive dies at 88

Douglas Dayton, who led the transformation of a family department store into retailing giant Target Corp., has died at 88. Douglas James Dayton was the youngest of George Nelson Dayton’s five sons who took over the family’s downtown Minneapolis department store from their father in 1948.

Douglas Dayton started working in the family business after serving in an Army infantry division in Europe during World War II, where he was injured and received a Purple Heart.

Having worked as a store manager, Dayton sensed the threat posed by discount retailers such as Kmart. In 1960, he became the first president of Target, and within two years, the company had opened four Target stores in the Twin Cities suburbs.

Compiled from staff and wire reports



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