Biz Buzz

Millcreek Mall makes top 10 list

Jim Martin — Fri, 20 Nov 2009 16:49:26 +0000

Digital City, which describes itself as a lifestyle network, has picked its top 10 biggest and best malls in the country and the Millcreek Mall is on the list.
The mall, owned by the Youngstown-based Cafaro co., comes in at fourth on the list.
A brief section of the article touts the local mall for its size — 2.6 million square feet — its 241 stores and new food court. Also earning a mention were the benefits of tax-free clothes shopping.
Number one on Digital City’s list? Minnesota’s Mall of America.
– Jim Martin

Time Warner adds Pittsburgh sports channel to HD lineup

Doug Oathout — Mon, 16 Nov 2009 17:58:28 +0000

Time Warner Cable customers probably noticed the change to their channel lineup before the company announced it Monday. In any case, the cable company has added the high definition offering of Fox Sports Network Pittsburgh to channel 429.
The channel, which features Penguins games and several coaches’ shows — including the Steelers’ coach, is available to Time Warner Cable customers living in northwestern Pennsylvania.

Sheetz looking for public support for new beer law

Jim Martin — Thu, 12 Nov 2009 18:26:30 +0000

The Altoona-based Sheetz convenience store chain is trying a new tactic in its ongoing efforts to bring beer to its Pennsylvania stores.
The Associated Press is reporting the company has started a petition drive to convince Pennsylvania lawmakers that customers want to buy beer in its stores.
Thwarted in the courts, Chairman Steve Sheetz wants a law allowing convenience stores to sell beer - something he’s envisioned since the chain was founded more than 40 years ago.
Sheetz had a license to sell beer in one Altoona store, but the state Supreme Court nixed that in June.
Sheetz was selling the beer in a fast-food area of the store to comply with a law allowing eateries to sell beer, but ran afoul of the law by not letting customers also drink in that section of the store.
Sheetz has more than 350 stores in six states, including more than 200 in Pennsylvania.
– The Associated Press

GE Transportation honored by military

Jim Martin — Tue, 10 Nov 2009 17:56:20 +0000

Lawrence Park-based GE Transportation has been presented with the Patriot Award by the U.S. Department of Defense.
The award, presented on the day before Veterans Day, recognizes the company’s support for employees serving in the U.S. Armed Forces.
While 11,000 veterans are employed by the General Electric Co., GE Transportation’s corporate parent, the concentration of military veterans is even more pronounced at GE Transportation.
More than 850 of GE Transportation’s employees are veterans, including more than 600 based in Erie and more than 100 at the Grove City engine plant.
– Jim Martin

Earnings fall for National Fuel

Jim Martin — Fri, 06 Nov 2009 18:29:07 +0000

What’s good for consumers might not be so good for the utilities.
National Fuel Gas Company, parent company of National Fuel Gas Distribution Corp., Erie County’s primary gas utility, reported today that fourth-quarter earnings fell by $16.3 million to $27 million when compared with earnings from the fourth quarter of 2008.
The company, based in Williamsville, N.Y., a suburb of Buffalo, reported that consolidated earnings for the full year tumbled from $268.7 million in 2008 to $100.7 million in 2009.
The company said the main driver for that decrease was a 28 percent decline in commodity prices.
— Jim Martin

Millcreek Mall tearing down former Dick’s Sporting Goods

Jim Martin — Wed, 04 Nov 2009 21:11:38 +0000

Owners of the Millcreek Mall say they have no immediate plans for the building that once housed Dick’s Sporting Goods to the west of the mall.
Work is under way to tear down that 61,500-square-foot building, saving only OfficeMax, which will become a free-standing store.
Joe Bell, a spokesman for the Youngstown-based Cafaro Corp., which owns the mall, said the building is being “deconstructed” rather than demolished so that many of the materials can be reused. The work is expected to be complete by Thanksgiving.
Bell shot down a television report that a parking garage would be built on that location.
“A parking garage was an idea that was kicked around a little over a year ago. We thought it was going to be the way to go,” Bell said. “Somewhere along the long the line a decision was made that we weren’t going to make a covered parking garage.”
Bell said mall management determined prospects weren’t good for filling the vacant spaces.
“We are finding when retailers move to out-parcels they like something that is more to their standards,” he said.
Brienne Ottaviani, marketing manager for the mall, said the space being torn down, had previously housed both the sporting goods store and a Chinese restaurant.
— Jim Martin

Fed again pledges to hold rates at record-lows

Doug Oathout — Wed, 04 Nov 2009 20:08:28 +0000

This just in from AP: With the recession apparently over, the Federal Reserve on Wednesday held a key interest rate at a record low and again pledged to keep it there for an “extended period” to foster the fragile economic recovery.

The Fed said economic activity has “continued to pick up” and that the housing market also has grown stronger, a key ingredient to a sustained recovery.

But Fed Chairman Ben Bernanke and his colleagues warned that rising joblessness and hard-to-get-credit for many people and companies could restrain the rebound in the months ahead.

Against that backdrop, the Fed kept the target range for its bank lending rate at zero to 0.25 percent. That means commercial banks’ prime lending rate, used to peg rates on home equity loans, certain credit cards and other consumer loans, will stay at about 3.25 percent, the lowest in decades.

Mall offers new choice for burger lovers

Jim Martin — Thu, 29 Oct 2009 19:00:15 +0000

Fuddruckers, a national hamburger chain with more than 230 locations, is open for business at the Millcreek Mall. The restaurant, which also features chicken sandwiches, soups, salads, fries and milkshakes, is located in the mall’s new food court area.
Fuddruckers was founded in Texas in 1980.
Local store hours are 10 a.m. to 9 p.m. Monday through Saturday and from 11 a.m. to 6 p.m. on Sunday.
– Jim Martin

GE gets order for 35 locomotives

Doug Oathout — Wed, 21 Oct 2009 17:21:12 +0000

Canadian National Railway said Wednesday it has ordered 70 new locomotives — 35 of them from Erie-based GE Transportation, according to the Associated Press. Terms were not disclosed.

The order was with GE Transportation and Electro-Motive Diesel Inc.

CN said it will acquire 35 ES44DC locomotives from GE starting in the fourth quarter of 2010, and 35 SD70M-2s from EMD beginning in January 2011.

The GE locomotives produce 4,400 horsepower and the EMDs 4,350 horsepower.

CN said it is looking to increase fuel efficiency, improving service reliability and reduce greenhouse-gas emissions.

Gas prices are up another dime

Doug Oathout — Tue, 20 Oct 2009 13:13:32 +0000

The effect of the falling value of the American dollar can be seen at your nearest gas station. Gas prices climbed another dime this morning to $2.69 for a gallon of unleaded regular at most area stations.
With this latest hike, gas prices have climbed at least 20 cents a gallon in the past week.
The jump in price reflects the rise in oil prices internationally. Crude, which is pegged to the American dollar, has been climbing because the value of the dollar has been falling compared to other currencies. As the dollar falls, the commodities price of oil rises. As oil price goes up, so does the price we pay at the pump.
What happens next?
Industry analysts are saying we should expect a little more volatility until the dollar stops sliding.
Working in consumers’ favor is that oil demand has remained steady or has decreased in recent weeks.
– Doug Oathout