Business Stories for March 2012
Stories for Thursday, March 22
High-tech workers difficult to find
URBANA — Finding and retaining qualified high-tech workers is a problem for local businesses, owners explained during a manufacturers’ summit at the Hall Company on Thursday afternoon.Manufacturers from a handful of businesses noted the difficulty of filling positions such as electrical engineers to work in Champaign County.The summit, which included ...
Default risk on home loans lowest since 2005
The default risk on home loans is now at its lowest level in seven years thanks to an improving economy, record-low interest rates and stabilizing home prices, said a University of Michigan finance and real estate professor. Under current economic conditions — gross domestic product growth of 2.5 percent and ...
Stories for Wednesday, March 21
New skateboard and clothing shop now open in downtown Dayton
DAYTON — Hangar18, a men’s clothing store and skateboard shop that focuses on street wear and the skateboarding culture, has opened at 114 N. St. Clair St. in downtown Dayton, store manager Monique Fortney said Wednesday. Hangar18 carries clothing by brands such as Diamond Supply, Crooks and Castles, HUF, Akomplice, ...
Stories for Tuesday, March 20
AFMC to get new vice commander at Wright-Patterson
WRIGHT-PATTERSON AIR FORCE BASE — President Obama has nominated Air Force Maj. Gen. Andrew E. Busch for promotion to lieutenant general and assignment as vice commander of the Air Force Materiel Command, officials said Tuesday.The promotion is subject to Senate confirmation.Busch currently serves as commander of the Ogden Air Logistics ...
Stories for Monday, March 19
Ohio development director to speak at Dayton conference
Ohio Department of Development Director Christiane Schmenk will speak Wednesday at the Ohio Business Matchmaker Conference held this year in Dayton.The seventh annual Ohio Business Matchmaker Conference is 7 a.m. to 4:30 p.m. Tuesday and Wednesday at the Wright State University Nutter Center, 3640 Colonel Glenn Hwy. Schmenk is scheduled ...
Stories for Sunday, March 18
Surge in local business loans shows confidence
Growing confidence in the U.S. economy has allowed more small businesses in the Miami Valley either to expand their companies or start new ones during the past two years with the help of federal government-loan programs.Loans backed by the U.S. Small Business Administration issued to businesses in the Miami Valley ...
Private-jet repair company brings business to Springfield
SPRINGFIELD — Spectra Jet — in the business of repairing Learjets for their wealthy owners — is looking at expanding.Pending an important contract, the company could more than double in size in the next year, bringing jobs and millions in additional revenue.Mike Catherwood started the company in 1998 with his ...
Stories for Friday, March 16
Air Force lagged in seeking competitive bids, study finds
The Air Force’s rate of seeking competitive bids for non-research and development services from the private sector fell significantly behind the rest of the Defense Department between 2007 and 2011, the U.S. Government Accountability Office has concluded in a new study.That meant that the Air Force missed a substantial opportunity ...
Air Force awards $1B in contracts to support foreign military sales
WRIGHT-PATTERSON AIR FORCE BASE — The Air Force awarded contracts worth more than $1 billion to four companies, including one with operations in Riverside, to support the foreign military sales program.General Dynamics Information Technology Inc., located in Riverside near Wright-Patterson Air Force Base, is a subcontractor for a $975 million ...
Stories for Thursday, March 15
Retired Air Force officer to lead Cedarville's new business school
Staff ReportCEDARVILLE — A retired Air Force officer whose 38-year career took him across the United States and overseas will lead Cedarville University’s new School of Business Administration.Lt. Gen. Loren M. Reno has been appointed as the first dean of the business school, effective on Aug. 1, university officials said ...
Iraq, Oman, Thailand to buy radar systems from Northrop Grumman
WRIGHT-PATTERSON AIR FORCE BASE — The Air Force awarded Northrop Grumman Electronic Systems an $87.8 million contract authorizing sales of radar systems to military forces in Thailand, Iraq and Oman.The Aeronautical Systems Center at Wright-Patterson Air Force Base authorized foreign military sales of 43 radar systems, including 22 to the ...
Stories for Wednesday, March 14
Huntington plans stock buyback
Huntington Bancshares announced plans Wednesday to repurchase shares of common stock and continue its current common stock dividend.Huntington said the Federal Reserve had no objection to its plans to buy back up to $182 million shares of common stock. The Columbus-based company is the fifth largest bank institution by deposits ...
Stories for Tuesday, March 13
Big banks raise dividends after passing ‘stress test’
Several large banks in Dayton and Cincinnati announced increases in dividends late Tuesday afternoon after receiving the results of The Federal Reserve’s 2012 “stress test.”The Federal Reserve released early its latest analysis of the largest bank holding companies in the U.S. to see how they would hold up in a ...
TAC Industries receives $6.5M AF contract
TAC Industries Inc. of Springfield has been awarded a $6.5 million contract to provide the U.S. Air Force with air cargo nets, according the Department of Defense.The contract calls for TAC to provide more than 13,000 tiedown-top nets and nearly 24,000 tiedown-side nets to the Support Equipment and Vehicle Division ...
Stories for Saturday, March 10
Ohio becoming more business friendly, really!
If you think that Ohio’s business-tax climate is unfriendly to companies, think again.That the conclusion of “Location Matters: A Comparative Analysis of State Tax Costs on Business,” just released by The Tax Foundation (www.taxfoundation.org), a nonpartisan tax research group based in Washington, D.C.The report’s authors examined in detail the business ...
Stories for Friday, March 9
Fifth Third does layoffs throughout footprint
CINCINNATI — Fifth Third Bank has laid off employees in a variety of positions throughout its 12-state footprint in the past 10 days, bank spokeswoman Debra DeCourcy said Friday.The layoffs are less than one percent of the Cincinnati company’s 22,000 employees.“That’s as specific as I can get at this point,” ...
AdCare reports record 2011 growth
SPRINGFIELD — AdCare Health Systems, an operator of skilled nursing facilities, made record revenues in the fourth quarter and for all of last year mostly due to acquisitions, the company reported Friday.Total 2011 revenues increased 198 percent to $151.4 million, compared to revenues of $50.8 million in 2010, according to ...
Stories for Thursday, March 8
Navistar suffers $153M loss
SPRINGFIELD — Navistar International Corp. lost $153 million in the first quarter of 2012.“Traditionally, our first quarter is the weakest period for Navistar due to seasonal downtime in our two largest markets,” said company spokesman Steve Schrier in an email.Although consolidated net sales and revenues rose 11 percent in the ...
UD research institute gets $44.3 million Air Force grant
The University of Dayton Research Institute on Wednesday received a $44.3 million award for research and development of structures for existing and future Air Force air and space vehicles, according to the Department of Defense. The award positions UDRI as a prime contractor for the Air Force Research Laboratory’s Technology, ...
Stories for Wednesday, March 7
Bob Evans to remodel some restaurants, expand into 19th state
The extensive remodeling and renovation initiative that Bob Evans Restaurants launched in Dayton in 2010 is now sweeping into the Hamilton and greater Cincinnati area, the company announced Wednesday.Bob Evans officials also announced the chain will expand into Arkansas, its 19th state, this year.The renovation program has been named the ...
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