Young Professionals sets holiday party
The Mahoning Valley Young Professionals is having its annual holiday party at 5:30 p.m. today at Los Gallos Mexican Restaurant, 685 Boardman- Canfield Road.
The organization also is collecting donations at the event to give to Park Vista of Youngstown’s Secret Santa program. Ideas for gifts for women include lotion, perfume, slippers, body spray, socks, cookies/nuts, candy, body wash, stuffed animals, knickknacks and photo frames. Men’s gift ideas are shaving cream, cologne, nuts, slippers, candy, cookies, lotion, socks, blankets and puzzle books.
The cost of the event is $15 for nonmembers or $12 for members.
PUCO levies $500K fine on Dominion
The Public Utilities Commission of Ohio on Wednesday approved an order that requires Dominion East Ohio to pay a fine of $500,000.
The order requires that Dominion take steps to ensure compliance with federal natural-gas pipeline safety standards.
The fine, and the stipulations with it, stem from a PUCO investigation into a series of fires in Fairport Harbor, near Painesville in Lake County, in January 2011. Eleven homes were severely damaged, and an additional 150 required appliance repair or replacement, causing $1.3 million in property damage.
In its investigation, the PUCO discovered that gas regulators failed at a Dominion East station in Fairport Harbor due to the presence of pipeline fluids in the devices, causing pressure in the system to increase.
Dominion now will be required to pay the fine within 10 business days.
Fed sends clearer signal on rates
The Federal Reserve said Wednesday that it plans to keep interest rates ultra-low even after unemployment falls close to a normal level — which it thinks could take three more years.
As long as expected inflation remains tame, the Fed said it could keep its key short-term rate near zero even after unemployment falls below 6.5 percent. Unemployment now is 7.7 percent.
For the first time, the Fed is making clear to investors and consumers that it will link its actions to specific economic markers. Previously, the Fed had said only that it expects to keep the rate low until at least mid-2015.
Analysts said the Fed’s new guidance will make it easier for companies, investors and consumers to make financial decisions because they will have a clearer grasp of when borrowing costs will begin to rise.
Vindicator staff/wire reports