LOCAL BUSINESS
Women’s luncheon planned
Jennifer Thomas, Akron program director for the John S. and James L. Knight Foundation, will speak at the Greater Akron Chamber KNOW luncheon April 17 at the Portage Country Club.
The KNOW (Knowledgeable Network of Women) luncheon is open to the public.
Registration and networking begin at 11 a.m., with the program at 11:30 a.m.
Since joining the Knight Foundation in June 2010, Thomas has overseen the distribution of more than $13 million in grants to nonprofits in the Akron area.
Cost for KNOW members is $22. Cost for nonmembers is $50. Portage Country Club is at 240 N. Portage Path.
Reservations must be made by noon April 12 by calling 330-376-5550 or online at www.greaterakronchamber.org.
Safety honorees named
The Ohio Bureau of Workers’ Compensation has announced the annual winners of its Safety Council of the Year awards.
The winners are among Ohio’s 80 councils that work to increase safety awareness in the workplace and educate businesses on occupational safety and health issues.
Ashtabula County Safety Council received the top recognition for the second year in a row for its commitment to helping employers understand how effective workplace safety and health programs can increase the overall productivity of their businesses. Medina County Safety Council came in fourth; Stark County Safety Council received an honorable mention.
Natural gas prices rise
The monthly natural gas price for customers who have chosen Dominion’s Standard Choice Offer (SCO) or those who don’t choose their own supplier will go up.
Effective April 15, the identical Standard Choice Offer (SCO) and Standard Service Offer (SSO) rates will be $4.58 per thousand cubic feet (mcf). The new rates are 55 cents, or 13.6 percent, higher than the March SCO/SSO rates of $4.03 mcf. The new rates are $1.79 cents, or 64 percent, higher than the April 2012 rates.
Under the new filing, the average SCO/SSO residential customer’s bill for the month of April 2013 will be $72.35, up $15.55 or 27.4 percent, from $56.80 in April 2012.
Residential customers pay the same usage-based charges (to deliver gas to a residence) and monthly service fee, regardless of whether customers choose their own supplier or stay with Dominion.
REAL ESTATE
Home prices show strength
Home prices nationwide jumped in February by the largest amount in seven years, evidence that the housing recovery strengthened ahead of the all-important spring-buying season.
Home prices rose 10.2 percent nationwide in February compared with a year earlier, said CoreLogic, a real estate data provider. The annual gain was the biggest since March 2006. Prices have increased on an annual basis for 12 consecutive months, underscoring the recovery’s steady momentum.
In Ohio, prices rose 2.9 percent in February compared with a year earlier. Nationwide, the gains were broad-based. Prices rose in 47 states and in all but four of the nation’s 100 largest metro areas.
AUTO INDUSTRY
Hyundai, Kia models recalled
South Korean automakers Hyundai and Kia are recalling almost 1.9 million vehicles to fix problems with air bags and brake light switches. The brake light recall covers the Hyundai Accent, Elantra, Genesis Coupe, Santa Fe, Sonata, Tucson and Veracruz. Also affected are Kia’s Optima, Rondo, Sedona, Sorento, Soul and Sportage. The vehicles are from the 2007 through 2011 model years.
U.S. safety regulators say a faulty switch can stop the brake lights from illuminating when drivers press the pedal. Also, the cruise control might not turn off when a driver steps on the brake. The automakers will notify owners and replace the switches for free starting in June.
Hyundai also is recalling 2011 through 2013 Elantras. A bracket can come loose when the side air bag inflates, potentially injuring people.
WALL STREET
Stock indexes fall sharply
Weak reports on hiring and service industries sent the stock market sharply lower Wednesday, giving the Dow Jones industrial average its worst day in more than a month.
The Dow fell 111.66 points, or 0.8 percent, to 14,550.35, its worst decline since Feb. 25. The Standard & Poor’s 500 index dropped 16.56 points, or 1.1 percent, to 1,553.69. Both indexes had closed at record highs Tuesday.
U.S. service companies kept growing at a solid pace in March, but the expansion was less than economists were expecting. The Institute for Supply Management’s index of service companies fell to 54.4 from 56 a month earlier. The report was the weakest in seven months.
Compiled from staff and wire reports.