DriveIT officer to give talk
The chief strategy officer for DriveIT, Ian Schwarber, will be the featured speaker June 8 for the Greater Akron Chamber’s Morning Buzz breakfast series.
DriveIT, an Akron-based startup, provides information technology training through what it calls “Gyms for the Brain.” The programs are aimed at improving the fitness of the IT workforce on a year-round basis.
The Morning Buzz is a monthly speaker breakfast series aiming to connect small- and medium-sized businesses.
The June program will be at the Hilton Garden Inn Akron, 1307 E. Market St., Akron.
Business connections, registration and breakfast begin at 7:30 a.m. The speaker program runs from 8 to 9 a.m.
Cost is $25 for members, $50 for nonmembers and includes a breakfast buffet.
To make a reservation, call the Greater Akron Chamber at 330-376-5550 or register at www.greaterakronchamber.org.
Earnings record for Portage
Portage Community Bank reported record earnings last year, the Kent-Ravenna Record-Courier reported.
The bank shared its annual report with shareholders Tuesday night at the Kent State University Hotel and Conference Center.
“Over the past few years, we have experienced simply outstanding growth in our deposits by achieving over $14 million in net growth for the third consecutive year,” Portage Community Bank Chief Executive Officer Richard J. Coe said, according to the newspaper.
The next income last year was $2.21 million, the Record-Courier reported.
Aultman network expands
The Pomerene Hospital in Holmes County has agreed to join the Canton-based Aultman Health Foundation, the Wooster Daily Record reported.
“The Pomerene board believes that [the] brand of the hospital are the people who work there, and I wholeheartedly agree,” Pomerene CEO Tony Snyder told the newspaper. “We don’t expect much change.”
The agreement is expected to take effect next year.
Judge pauses CBS battle
A Delaware judge has ordered a pause in a dispute between CBS and its majority shareholder that could decide control of the company.
The judge on Wednesday granted CBS a temporary restraining order prohibiting National Amusements from taking any action to thwart a scheduled Thursday board vote on a dividend that would dilute National Amusement’s voting power from 80 percent to 17 percent, effectively giving CBS independence.
The judge said he was granting the order only to protect his jurisdiction and would rule Thursday on whether it should remain in effect.
National Amusements said earlier Wednesday that it had rewritten CBS’ bylaws to require a “supermajority” to approve the dilutive dividend.
CBS has been fighting pressure by National Amusements to merge with Viacom, which also is controlled by National Amusements.
Pace of production increases
U.S. factories cranked out more appliances, computers and aircraft last month, lifting manufacturing production for only the second time in five months.
The Federal Reserve said Wednesday that factory output rose 0.5 percent in April after a flat reading in March. In the past year, production has increased a modest 1.8 percent.
A broader measure of industrial production, which includes mining and utilities, rose 0.7 percent. Mining output, lifted by higher oil prices, jumped 1.1 percent. Utilities output rose 1.9 percent.
U.S. manufacturers have benefited from solid consumer spending, while also facing uncertainty because of steel and aluminum tariffs imposed by the Trump administration.
Compiled from staff and wire reports.
Business news briefs, May 17: DriveIT officer to give talk