Ohio's jobless rate holds steady at 5.5%
Ohio’s unemployment rate for June was 5.5 percent, unchanged from May, which was the lowest level since before the Great Recession. The Ohio Department of Job and Family Services says the rate is holding steady after gradually declining from 5.7 percent in March and 6.1 percent in April. The number of workers unemployed in Ohio in June was 316,000, down 1,000 from 317,000 in May. The number of unemployed has decreased by 114,000 in the past 12 months from 430,000. The June unemployment rate for Ohio was down from 7.4 percent in June 2013. Ohio’s June rate is still better than the national average of 6.1 percent.
Brennan's Colony shooting suspects plead not guilty
Two sets of brothers have pleaded not guilty to charges in connection with the shooting death and attempted robbery of a Cleveland Heights restaurant owner. Brandon and Darien Jones, along with Devonne Turner are charged with aggravated murder, robbery, burglary and kidnapping. Turner's brother Paul Turner faces charges including tampering with evidence. Cleveland Heights police arrested the men within days of the June 30 shooting of Brennan’s Colony owner Jim Brennan.
Akron welcomes complex for homeless veterans
Nuclear Regulatory Commission cites Pennsylvania power plant for shutdown
Akron officials will hold a ribbon-cutting ceremony this morning for a new veterans housing complex. The $800,000 Arlington Veteran’s Housing Project was completed by the East Akron Neighborhood Development Corporation. It rehabbed a building for the 10-unit complex. It has been under construction since last May.
The cold winter weather called the polar vortex caused many power plants in the region to shut down in January. A Nuclear Regulatory Commission report says one along the Ohio River in western Pennsylvania shut down because employees were not following protocol. FirstEnergy’s Beaver Valley plant in Shippingport shut down its reactor after a transformer shorted. An NRC investigation found that occurred when employees let oil temperatures drop below 120 degrees, violating instructions. The NRC issued First Energy a low level citation.
Contractor lays off workers decontaminating Uranium plant
The contractor leading decontamination and decommissioning work at a Cold War-era uranium plant in southern Ohio anticipates up to 675 layoffs beginning in October because of problems related to funding for the project. Fluor-B&W Portsmouth on Thursday notified employees and the state about the potential layoffs for workers cleaning up the former Portsmouth Gaseous Diffusion Plant in Piketon. The layoffs are necessary because uranium transfers fund much of the project but uranium prices have dropped. About 1,900 people work on the cleanup project.
KeyCorp profits up 8 percent from last year
Cleveland-based KeyCorp, the parent company of KeyBank, says second quarter profits were up about 8 percent from the same quarter last year. Profits were $214 million, driven by a 13-percent increase in commercial loans and with the acquisition of Oregon-investment bank Pacific Crest Securities. KeyCorp also says it maximized profits by cutting more than 1,100 jobs in the last year.
Ohio Lottery reaches record sales and profits
The Ohio Lottery is reporting another year of record-high sales and profits, boosted partly by revenue from new video lottery terminals at three racino sites. Lottery officials say preliminary data show traditional sales and the VLT revenue totaled $3.2 billion for the 2014 fiscal year. That's $314 million more than the previous year. It generated more than $904 million in profits, which are used to support Ohio public schools. Total profits increased by about $101 million compared with the 2013 fiscal year.
Sherwin-Williams sales reach record high of $3 billion
Cleveland paint company Sherwin-Williams is reporting record second quarter sales of $3 billion. The company also says profits rose 13 percent since the last quarter to around $300 million dollars. Pain store sales grew around 17 percent to nearly $2 billion dollars for the quarter that ended June 30th. Sherwin-Williams says the sales boost was due to rising paint sales and acquisitions.