Builders association sets annual meeting
The Builders Association of Eastern Ohio and Western Pennsylvania will have its 43rd annual meeting at 4 p.m. Wednesday.
In addition to issuing reports on 2012 activities, the association will elect a new president and announce the recipients of its annual Youngstown State University Scholarships.
The meeting is at the Youngstown Club, Fifth Floor, 201 E. Commerce St.
Sentenced in swindle
An Indiana financier and former chief executive of National Lampoon convicted of swindling investors out of about $200 million was sentenced Friday to 50 years in prison by a judge who told him his “deceit, greed and arrogance” had cost many of his victims their life savings.
U.S. District Judge Jane Magnus-Stinson said Timothy Durham had violated the trust of thousands of small investors.
Prosecutors said Durham and two other men stripped Akron, Ohio-based Fair Finance of its assets. A jury in June found the three men guilty of securities fraud and conspiracy. Durham was convicted on 10 counts of wire fraud.
A drop in spending
Americans cut back on spending last month while their income remained flat. The weakness in part reflected disruptions from superstorm Sandy that could slow economic growth for the rest of the year.
The Commerce Department said Friday that consumer spending dropped 0.2 percent in October. It was the weakest figure since May, and it compared with a 0.8 percent spending increase in September.
Income had risen 0.4 percent in September.
Vindicator staff/wire reports
Selected local stocks
Aqua America, .66, 25.54 .13
Clear Channel, .73 73.40 1.93
Cortland Bancorp, 10.03.00
Farmers Nat., .126.12 —.21
First Energy, 2.20, 42.46—.02
FirstMerit Corp., .64,14.08 .04
First Niles Financial, .32,6.85.00
First Place Fin., .02.00
FNB Corp., .48,10.80—.12
General Electric, .68,21.13.00
Motors Liquidation, .0422.00
Huntington Bank, .16, 6.1650.0050
JP Morgan Chase, 1.20,41.08—.14
Key Corp, .20,8.08—.04
LaFarge, 14.54 .30
Macy’s, .80, 38.70.08
Parker Hannifin, 1.64, 82.15—1.24
RTI Intl. Metals,24.80—.21
Simon Prop. Grp.,4.40,152.13.88
Stoneridge 4.93 —.07
United Community Fin. 2.93—.06
Selected prices at 4 p.m. Friday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.