Biz Buzz

Docksider owner revamping former Peninsula Gateway by Presque Isle

Doug Oathout — Fri, 24 May 2013 16:09:34 +0000

The Peninsula Gateway restaurant will have a new look — and a new name — when it reopens this weekend.
Docksider owner Eddie Bayeh is now leasing the property at 2860 W. Sixth St. and has spent the past week working to remodel it in time for a Memorial Day weekend opening.
Bayeh said the restaurant, which will be renamed Schickalay’s on the Bay, will feature the same Greek food it has been known for along with chicken wings, Lake Erie perch sandwiches and an assortment of new foods all from local vendors.
Bayeh said the restaurant will also serve beer once it receives a liquor license.
Improvements at the restaurant include new signs and a new outdoor dining area.
The Nacopoulos family, who previously operated the restaurant, still own the property. The former managers of the Peninsula Gateway are now running the Peninsula Grille at 2767 W. 12th St.

Erie dealership offers deal on Viper for nearly $3,000 a month

Jim Martin — Thu, 23 May 2013 21:12:51 +0000

So how much of a monthly car payment can you handle — how about $2,972?

That’s an estimate of what it would take to get you behind the wheel of the new 2013 SRT Viper for sale at Gary Miller Chrysler Dodge Jeep on Peach Street.

The new Viper, the product of a design team led by Millcreek Township native Scott Krugger, carries a list price of more than $158,000.

According to the dealership’s website, however, the 640-hp car, capable of topping 200 mph, is available for an Internet special price of $143,490.

To help potential buyers see how that might fit into their budget, the dealership’s website offers a hypothetical look at the car’s monthly impact on your bottom line.

Financed for five years at 8.9 percent interest — with no trade or down payment — your monthly installment payment would be about $2,972 a month.

That number, of course, is before you calculate the additional expenses of sales tax, which will add another $8,600 to the bill.

Bill Heath, sales manager at Gary Miller, said the dealership has received a couple bids on the limited-edition car on eBay. But so far, he said, the price hasn’t been right.

—Jim Martin

Interested in a move to Fort Worth? Ad targets GE workers

Doug Oathout — Thu, 23 May 2013 19:04:37 +0000

An ad caught our eye as we were putting together our Saturday House to Home section. It is for a home that’s for sale in Fort Worth, Texas, “across highway from GE in a golf course community.”

The Realtor involved is no doubt targeting any GE Transportation employees who might be considering a move from Erie to Fort Worth following the company’s announcement April 9 that it will transfer the production of AC locomotives and additional mining-vehicle wheels production to the company’s new plant in Fort Worth.

The company’s plan could eliminate 950 union jobs and another 100 management positions in Erie.

So far, the company has made no announcement about whether anyone would be transferred from Erie to Fort Worth. A human resources manager said Erie workers are welcome to apply for jobs in Fort Worth.

Lawmakers approve plan for variable student loan rates

Doug Oathout — Thu, 23 May 2013 18:36:55 +0000

Here is some news that the parents of college students or soon-to-be college students will find interesting: House lawmakers earlier today approved legislation that links student loan rates to the ups and downs of the financial markets in spite of a veto threat from President Barack Obama.
The Republican-backed the bill would allow students to dodge a scheduled rate hike for students with new subsidized Stafford loans next month, but rates could rise in coming years. Democrats largely opposed the measure — which they branded the “Making College More Expensive Act” — while the Republican chairman of the Education Committee labeled the legislation a starting point for negotiations with the Senate and White House.
Interest rates on new subsidized Stafford loans are set to double, from 3.4 percent to 6.8 percent, on July 1. Lawmakers from both parties say they want to avoid the increase but were divided on how.
Under the GOP proposal, student loans would be reset every year, pegged to 10-year Treasury notes with added percentage points. For instance, students who receive subsidized or unsubsidized Stafford student loans would pay the Treasury rate, plus 2.5 percentage points starting for loans issued after July 1.

Verizon launches Oklahoma aid effort

Doug Oathout — Wed, 22 May 2013 20:08:46 +0000

Verizon is asking its employees and customers to join in assisting the victims of the May 19-20 tornadoes that swept through the Oklahoma City area. Verizon has committed $100,000 in grants to disaster relief in the area, and the Verizon Foundation will provide a 1-to-1 match of employee online donations (from $25 up to $1,000 per employee) to the American Red Cross and the Salvation Army.
Verizon Wireless customers can make a $10 donation by texting REDCROSS to 90999 to support the American Red Cross. Text messaging fees will be waived and 100 percent of each donation goes directly to the Red Cross. Verizon Wireless customers who pay monthly bills will see their donations on their next regular monthly bill.

Behrend students turn real money into more real money

Jim Martin — Tue, 21 May 2013 20:04:45 +0000

So how’s this for investment advice? Take $100,000 of real U.S. dollars and turn them over to a group of college students for safekeeping.

It might sound risky, but it worked out just fine for Erie native Vincent Intrieri, senior managing director of Icahn Capital Management and a 1984 graduate of Penn State Behrend.

After chatting last year with Hunter Holzhauer, who teaches a portfolio management class at Behrend, Intrieri gave the school $100,000 to establish the Penn State Behrend Student-Managed Fund.

Students, with some oversight from Holzhauer, used the money to purchase and manage a stock portfolio of about 50 stocks, beginning in late 2012.

Intrieri predicted in Decembers that students would make the most of the money.

“When you have real money in the investment versus a mock portfolio, there’s always more thought put into it,” he said in December.

So how well did the class perform?

About six months after the initial investment, the portfolio is worth about $112,000, with gains similar to those of the S&P 500.

“They’ve made $12,000,” Holzhauer said. “That’s a good thing.”

Max & Erma’s rolls out its new look tonight

Doug Oathout — Thu, 16 May 2013 19:49:12 +0000

A grand re-opening is planned for tonight at Max & Erma’s, the restaurant at 2078 Interchange Road, that underwent renovations two weeks ago.
The festivities – including performances by the Fort LeBoeuf High School Jazz Band, the Jon Sedelmyer & Rob Gibson Band and a magician — begin at 5 p.m., with a ribbon cutting planned for 6 p.m.
Among the evening’s activities are beer tastings by Lavery Brewing and Erie Brewing, and complimentary appetizers.
The new restaurant features a new “date-night section” where the front porch used to be. The lighting has been changed, and the chairs have been replaced by seats that allow couples to sit together. A fireplace has been added to separate the date-night seating area from the larger dining room. Among other changes: more seating in the bar and more local beers.
The menu has also been tweaked to include three salads, including the once popular Hula Bowl Salad, and two new burgers.
Max and Erma’s has been in Erie for 11 years. It employs 50 to 55 people
“It has been one of our best (performers) for a long time,” said Steve Weis, president of Max & Erma’s.

New women’s shoe store coming to Millcreek Mall

Jim Martin — Thu, 16 May 2013 15:59:45 +0000

There’s a new, locally owned shoe store coming to the Millcreek Mall.

Owners and spouses John and Jessica Fee plan to open Jess’ Choice by early July.

The store, a 2,000-square-foot space that will be located next door to Zales jewelry, is desribed by the owners as a store dedicated to fashionable women’s shoes.

“My husband and I have traveled coast to coast looking for beautiful and affordable shoes that aren’t here in Erie but should be,” co-owner Jessica Fee said. “We are calling the store Jess’ Choice because I have hand-selected all of these styles for Erie.”

Among the brand names to be offered are Steve Madden, Mojo Moxy, Ivanka Trump, ALBA and Charles Jourdan.

For more information, visit: www.jesschoice.com

Union charges GE Transportation with unfair labor practices

Jim Martin — Fri, 10 May 2013 19:03:06 +0000

A union representing employees at GE Transportation has filed an unfair labor practices charge against the company with the National Labor Relations Board.

That complaint, filed in Pittsburgh this morning by the United Electrical Radio and Machines Workers of America, claimed that the company improperly removed work from its Erie plant without providing written notice and the opportunity for the union to bargain.

The charge of unfair labor practice comes as GE Transportation and its union workforce are in the midst of a 60-day decision bargaining process following an April 9 announcement by the company that it plans to eliminate 950 union jobs in Erie, moving much of that work to Texas.

The charges filed with the NLRB refers not to the current bargaining process, but to jobs lost late in 2012 and early in 2013 when the company began production in Fort Worth.

In a prepared statement, the union said it is “asking the NLRB to order that the work be returned to Erie and to enter an injunction preventing any further transfer of work from the Erie plant.”

Nominations sought for Commitment to Erie awards

Jim Martin — Wed, 08 May 2013 20:49:38 +0000

Time is running out.

The deadline is 5 p.m. May 24 to nominate an Erie County employer for the Commitment to Erie Awards, presented for the second time this year by the Erie Times-News and GoErie.com.

Erie County employers will once again be honored for their commitment to their customers, employees and the region.

Last year’s event brought top honors for Kraus Department Store and Erie Insurance.

A number of other awards also will be presented:

▀ Workplace of the Year: Companies will be recognized in two size classifications for their commitment to their employees.

▀ Community Service: This award recognizes a company for a particular outreach project in the community or an ongoing pattern of community service.

▀ New Business of the Year: This award will be given to an Erie-based company that has been in business less than three years that is innovative, shows promise and already exudes some of the qualities seen in Commitment to Erie winners. This is a new category.

▀ Nonprofit of the Year: This honors a local nonprofit institution for its contributions to the greater Erie community.

▀ Legacy Award: This honor goes to an individual or to a company or organization that has improved the region’s economy and helped transform the Erie community. This is a new category.

Does your company fit the bill in one or more of these categories?

Or maybe you would like to nominate a company that you visit as a customer or perhaps an employer that does business with your company.

Our online nomination form will walk you through the process. To submit a nomination, visit www.GoErie.com/CTEAwards.

Tickets go on sale in July for an awards dinner to be held Sept. 18 at the Ambassador Center.

We hope to see you there.