LOCAL BUSINESS
Energy conference deadline
Today is the deadline to get an “early bird” discount to attend the first day of the business-to-business Youngstown Ohio Utica & Natural Gas 2012 Conference & Expo, which will be held Sept. 6-7 in downtown Youngstown.
The early bird discount for the Sept. 6 program is $75; the price rises to $100 after today. The Sept. 7 session is $50, while the kickoff “Industry Insider Reception” on Sept. 5 is $25.
The Sept. 6 program runs 9 a.m. to 5 p.m. at the Covelli Centre in downtown Youngstown, while the second day “breakout sessions” program will be at the Holiday Inn Boardman.
For more information, go online to www.young2012expo.com.
FirstMerit sets dividend
FirstMerit Corp. announced a quarterly cash dividend of 16 cents a share, payable Sept. 17 to shareholders of record Aug. 27.
Parker announces dividend
Cleveland-based Parker Hannifin Corp. announced a quarterly dividend of 41 cents per share, payable Sept. 7 to shareholders of record Aug. 28.
Kucinich seeks investigation
U.S. Rep. Dennis Kucinich, D-Lakewood, asked the Nuclear Regulatory Commission’s inspector general to investigate that agency’s handling of a cracked shield building at the Davis-Besse nuclear power plant. Kucinich, a persistent Davis-Besse critic, said his letter to Inspector General Hubert T. Bell was inspired by conflicts between official answers NRC staff have given about the troubled plant and information the congressman had received previously from agency engineers.
RETAIL
Apple reverses decision
Apple Inc. said recent changes it made in its stores selling iPhones, iPads and Macs were “a mistake,” and is reversing new staffing policies. Staffing was reduced at some locations and hours were cut as part of a new policy implemented by Apple’s new head of retail, John Browett, according to the Dow Jones news service. “We recently implemented some changes in retail staffing,” said Kristin Huguet, a spokeswoman for Apple. “Making these changes was a mistake and the changes are being reversed.”
Macy’s sues J.C. Penney
Macy’s Inc. sued J.C. Penney Co. in New York state court over the rights to sell products branded by Martha Stewart Living Omnimedia Inc. in their respective department stores. Macy’s, the second-biggest U.S. department-store chain, sued Martha Stewart Living in January to stop it from executing a sales agreement that was announced in December with J.C. Penney. Cincinnati-based Macy’s claimed an exclusive right to sell Martha Stewart products in certain categories.
Sears reports quarterly loss
For the quarter ended July 28, Sears said it lost $132 million, or $1.25 per share. That compares with a loss of $146 million, or $1.37 per share, a year ago. Excluding costs tied to store closings, a pension expense and other items, the company lost 86 cents per share. Revenue dropped 7 percent to $9.47 billion, missing Wall Street’s $9.68 billion estimate. In the U.S., the company said revenue from Sears stores open at least a year fell 2.9 percent. The figure declined 4.7 percent for Kmart locations.
REAL ESTATE
Mortgage rates rise slightly
Average U.S. interest rates on fixed mortgages ticked up for the third straight week, staying slightly above record lows. Mortgage buyer Freddie Mac said the rate on the 30-year loan increased to 3.62 percent, up from 3.59 percent last week.
Compiled from staff and wire reports