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Regional Business Digest



Published: Fri, October 27, 2006 @ 12:00 a.m.



REGION

Mexican companies askVenture Plastics for bids

NEWTON FALLS -- Venture Plastics, an injection-molding company, said it has been asked by Mexican companies to bid on work after company officials visited the country last week. Venture Plastics was among 30 companies that joined Gov. Bob Taft on a trade mission to Mexico. The trip focused on increasing Ohio exports and jobs, especially in the automotive sector.

"Making this trip with Gov. Taft helped open many doors that would normally take months, if not years, to develop on our own," said Steve Trapp, vice president and general manager of Venture Plastics.

O'Charley's opening setrecord, Covelli says

NILES -- Covelli Enterprises said its new O'Charley's restaurant in Niles set a record for the chain for opening week sales. No details were released. Warren-based Covelli recently became a franchisee of the Tennessee-based chain and opened its first O'Charley's in the Eastwood Mall complex.

"Guest response to the restaurant has exceeded our expectations both in terms of satisfaction and revenues," said Sam Covelli, president and chief executive of Covelli Enterprises.

Ribbon-cutting ceremonyfor Titan Auto Insurance

NILES -- Titan Auto Insurance will hold a ribbon-cutting ceremony at 4 p.m. today for its new office at 233 Youngstown-Warren Road. A grand-opening event will be from 4 to 6 p.m.

The owner of the office is Michael Kernan. Titan, which has offices throughout the country, was formed in the early 1990s and later bought by Nationwide Mutual Insurance Co.

NATION

New-home price declineis biggest since 1970

WASHINGTON -- New-home prices fell last month by the largest amount in 35 years, and owners are being warned to brace for further declines, especially in formerly hot markets.

After years of increases, some buyers say prices are still out of their range. The Commerce Department reported that the median price for a new home sold in September was 217,100, a decline of 9.7 percent from September 2005.

That was the lowest median home price in two years and the sharpest year-over-year decline since December 1970.

From Vindicator staff reports




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