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Regional Business Digest



Published: Mon, October 16, 2006 @ 12:00 a.m.



REGION

Genworth plans ceremonyto open Boardman office

BOARDMAN -- A ribbon-cutting ceremony will be at 4:30 p.m. Tuesday for the opening of an office of Genworth Financial Securities Corp. at 5621 Market St. Genworth, which is based in Illinois, provides investment, insurance and advisory services. The company has more than 2,400 financial representatives.

NATION

Study: Wealthy parentsemphasize charity, work

NEW YORK -- To teach their children the value of money, affluent parents stress charity and hard work over material goods, according to a recent study from American Express Co. While just over half of children receive a regular allowance -- 7 for children ages 6 to 14 and 21 for those ages 15 to 16 -- 45 percent ages 15 to 17 have part-time jobs. More than two-thirds participate in charitable activities, and 62 percent donate part of their own money to charity. However, affluent parents still spend more than the average on their children's clothes. Affluent parents spend 53.50 for sneakers compared with the national average of 33.71. They also shell out 42.50 for jeans, compared with the national average of 17.82. American Express polled 1,170 parents with an average of two children and an average annual household income of 472,000.

WORLD

China patents on rise

GENEVA -- Patent filings in China increased by more than six times in a decade, helping the Asian country make a dramatic leap in catching up to the world leaders in patent activity, the U.N. agency that oversees intellectual property said today. More than 130,000 applications from Chinese and foreigners were filed with Beijing in 2004, the last year for which figures were available, the World Intellectual Property Organization said. That catapulted China into fifth place in the total number filed, behind Japan, the United States, the European Patent Office and South Korea.

Vindicator staff and wire reports




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