Warren-based Northwest Savings Bank is seeking permission from regulators to relocate its office at 2256 W. Eighth St. to a new location in the West Erie Plaza.
The new bank would be located between Rite Aid and Wendy’s.
Jim Martin, president of the bank’s Erie region, said, “Our new quarters will not only be a full-service bank. It will be larger, more comfortable, more accessible, and totally state-of-the-art.”
The new 4,700-square-foot location, which will include three drive-through lanes, is expected to open in the third quarter of the year.
— Jim Martin

The Associated Press is reporting that Movie Gallery Inc., owner of the Hollywood Video movie rental chain, which has two locations in Erie, has filed for Chapter 11 protection and plans to close 805 stores — about a third of its total.
Its the second trip through bankruptcy court in just three years for Movie Gallery. The company is struggling with competition as more people choose to stream videos online from Netflix Inc. and other services or pick up $1-per-night rentals at Redbox kiosks.
The company, which is based in Wilsonville, Ore., first landed in bankruptcy court in October 2007, unable to sustain the debt it took on in its $850 million acquisition of rival Hollywood Entertainment Corp. in 2005. Movie Gallery agreed to assume about $350 million of Hollywood Entertainment’s borrowings as a part of the deal.
The acquisition made Movie Gallery the No. 2 rental chain in the country behind Blockbuster Inc. but it has been forced to close more than 2,400 of its stores in the past three years, leaving about 2,600 still open, according to court filings made Tuesday.
– The Associated Press

Northwest Airlines’ code has been retired.

Delta Air Lines combined the Northwest reservation system into its own over the weekend, changed the code on Northwest flights to Delta’s code and took down the Northwest Web site.

It was one of the final steps in the integration following Delta’s acquisition of Northwest in 2008 to become the world’s biggest airline.

Delta, based in Atlanta, was green-lighted to retire the Northwest code after it obtained a single operating certificate from the FAA on Dec. 31.

Employees wear the Delta uniform and airport signs have been rebranded as Delta, but some pre-merger Northwest aircraft have yet to be repainted with the Delta livery.

Northwest got its start in 1926 hauling air mail in two rented biplanes.

Pittsburgh-based PNC Financial Services Group Inc. has announced plans to repay $7.6 billion taken under the federal government’s TARP or Troubled Asset Relief Program.
Money to redeem the shares held by the U.S. Treasury will come in part from the company’s plan, also announced today, to sell PNC Global Investment Servicing to BNY Mellon for $2.3 billion in cash. PNC Global Investing is described as a provider of global fund processing products and services.
The company also announced plans to sell $3 billion of its common stock.
“With signs of an improving economic environment and stabilizing financial system, we believe now is the appropriate time for us to redeem the preferred shares held by the U.S. Treasury,” said James Rohr, PNC’s chairman.
– Jim Martin

Meadville-based Dad’s Pet Care has purchased Arkat Nutrition, a dog and pet food company based in southeastern Arkansas.
With the purchase, Arkat becomes Arkat Animal Nutrition LLC, a wholly owned subsidiary of Dad’s Pet Care.
In addition to dog food, Arkat makes a wide range of feeds, including food for fish, cats, horses, turtles and cattle.
“The acquisition of Arkat fits perfectly into Dad’s Pet Care’s strategy to grow our portfolio of brands, expand our operational footprint and bring capacity to the industry,” said Elliott Haverlack, chief operating officer for Dad’s. “This purchase is an opportunity that closely aligns with Dad’s Pet Care’s long term vision of growth and expansion.”
Terms of the deal were not disclosed.
Dad’s, which was founded in 1933 by the Lang family, also produces foods labeled Rachael Ray Nutrish.
– Jim Martin

President Barack Obama’s plan $8 billion plan for high-speed rail could spell opportunity for GE Transportation.
Lorenzo Simonelli, chief of executive of the Lawrence Park-based business unit of General Electric, called the announcement “an important milestone.”
“Passenger rail projects will create high tech manufacturing jobs in the U.S. and provide access to greener transportation solutions for the rail traveling public,” Simonelli said in a statement.
Stephan Koller, spokesman for the company, said true high-speed rail — often defined as trains traveling faster than 220 mph — could still be years away.
But what the industry refers to as higher-speed rail, with trains traveling up to 124 mph, could be calling for new locomotives in three years or less.
“That could have an almost immediate impact on jobs,” Koller said. “If Amtrak makes that commitment, engineers need to start working and the planning needs to start.”

The company that makes the gas pedal systems implicated in Toyota’s big recall of some popular brands says it is working with the automaker on a fix, according to the Associated Press.

CTS Corp. officials say they have ramped up production at three factories to produce new pedals. They pedals are meant to solve problems with condensation that Toyota has said can cause them to react slowly when driver presses on the gas or in rare cases, get stuck.

CTS says the new pedals will be meant to fix cars already owned by Toyota customers and for new cars Toyota is manufacturing.

Earlier this week, Toyota halted sales of eight models due to problems with the gas pedal system. That followed a recall last week of 2.3 million trucks and cars, including Camrys and Corollas.

More than 500 people are expected to attend the Economic Development Corporation of Erie County’s annual dinner Thursday at the Bayfront Convention Center.
The group will announce its 2009 Employer of the Year and 2009 Entrepreneur of the Year awards
Nominees for top employer include Accuspec Electronics LLC, Moore Research Services Inc. and Scott Enterprises.
Finalists for top entrepreneur are Accents by the Bay, Bay City Orthocare and Beechwood Vista LLC.

– Jim Martin

The Pittsburgh-based Giant Eagle supermarket chain has recalled frozen hash browns because bacteria was found in other products processed at the same independent plant that makes the hash browns, according to the Associated Press.

The voluntary recall effects Giant Eagle brand country style, western style, southern, diced, and shredded hash browns and Food Club hash browns.

Giant Eagle says the potential health risks are virtually eliminated by cooking the potatoes as directed, but urged customers to throw them away or return them for refunds.

Giant Eagle operates more than 200 stores in Pennsylvania, Maryland, Ohio and West Virginia.

The Erie Regional Chamber will host a ribbon-cutting at 10 a.m. today at the office of State Farm agent Christopher Wertz at 113 W. Ninth St.
The ribbon-cutting will be followed an open house.
Wertz can be reached at 452-4609.