LOCAL BUSINESS
Beacon Journal readership up
The combined readership of the Akron Beacon Journal and its website, Ohio.com, is among the top 25 U.S. newspapers for readership growth, according to a new report by Alliance for Audited Media.
Readership was 551,551 as of March 31, up 6.1 percent from the 519,690 total reported for the same date last year.
Readership is defined as the number of people reading the paper in print and online. Scarborough Research provides the readership numbers to the Alliance for Audited Media, formerly known as the Audit Bureau of Circulations. Scarborough Research conducts a phone survey, including households that only have cellphones, to ascertain the readership numbers.
The Beacon Journal’s vice president for circulation, Jim DeLuca, said the newspaper’s growing readership “shows we have a great website [Ohio.com] and a great print product. This shows how many people depend on us every day, and that number is increasing.”
The Beacon Journal was the only Ohio newspaper on the Alliance’s top-25 list for readership growth. To determine the readership numbers, those surveyed are asked if they have read the Beacon Journal in the past seven days and gone to Ohio.com in the past 30 days. A total of 463,777 people in the newspaper’s “defined market area” had read the Beacon Journal in print in the seven-day period, and a total of 183,647 in the “defined market area” had read the paper online in the 30-day period. The total number of visitors to the newspaper’s website, regardless of location, is much bigger.
The total readership number of 551,551 was the net combined readership — meaning people are not counted twice if they read the newspaper online and in print.
B&W earnings fall flat
Babcock & Wilcox Co.’s second-quarter earnings were flat as revenue rose 3.9 percent, or $33.5 million, to $886.1 million compared to a year ago. The Charlotte, N.C., company, which has significant operations in Barberton, reported earnings after the stock market closed Wednesday.
Second-quarter earnings per share were 65 cents, the same as a year ago. Adjusted earnings per share were 72 cents, up 7 cents, or 10.8 percent, from the second quarter of 2012.
Revenue from its Power Generation segment, largely based in Barberton, fell to $471.2 million for the quarter compared to $497 million a year ago. Power Generation income dropped to $30.5 million compared to $58.1 million a year ago. Power Generation segment income fell largely from $30.2 million of contract losses related to what the company said were unforeseen conditions involving a biomass boiler project.
Revenue from B&W’s Nuclear Operations offset decreases in revenue from the company’s other segments. B&W said it expects to earn between $2.25 and $2.45 a share on revenue of $3.4 billion and $3.5 billion for 2013.
Cleveland casino to add jobs
Horseshoe Casino Cleveland is hiring up to 200 part-time table dealers and 30 full-time table supervisors. The downtown casino is opening more table games with a wider variety of minimum bets.
About 300 people will be interviewed and those selected must attend a “Table Games Academy,” a free training session that will last four to six weeks for dealers. Supervisors will go through a six- to eight-week training period.
The training academy begins Aug. 19. Casino industry experience is not necessary. Dealers generally earn $17 to $22 an hour, with tips included, a spokeswoman said. To apply or for more information, go online to www.caesarscareers.com.
WALL STREET
Dow Jones drops 48 points
The Standard & Poor’s 500 index fell 6.46 points, or 0.4 percent, to close at 1,690.91 in Wednesday trading. Seven of the index’s 10 industry groups ended lower. The Dow Jones industrial average fell 48.07 points, or 0.3 percent, to 15,470.67.
The Nasdaq composite lost 11.76 points, or 0.3 percent, to 3,654.01. Crude oil fell 93 cents, or 0.9 percent, to $104.37 a barrel. Gold gained $2.80 to $1,285.30 an ounce. The yield on the 10-year Treasury note fell to 2.60 percent from 2.64 percent late Tuesday.
AUTO INDUSTRy
Honda to expand in Brazil
Honda Motor Co., Japan’s third-largest automaker, plans to invest $435 million building a second factory in Brazil. The plant, located in Itirapina, about 124 miles northwest of Sao Paolo, will start production of compact cars from 2015.
Separately, Honda announced that it will invest about $215 million in its Ohio operations to add new powertrain technologies and a technical training center at its engine plant in Anna while also building a technical training center and a historically focused heritage center in Marysville.
The Anna plant is about an hour’s drive north of Dayton off Interstate 75.
Compiled from staff and wire reports