Schwebel’s closing site
Schwebel’s announced it will close its bread-making facility in Cuyahoga Falls sometime next year.
According to the Akron Beacon Journal, the company intends to offer most of its 140 employees there transfers to a modernized facility in Solon where it will install a new bread-making line. The company said the Cuyahoga Falls bakery is considered too old to keep operating. The baking company, founded in 1906, has headquarters in Youngstown.
Pure Cycle event
Pure Cycle will have a ceremonial ribbon-cutting at 10 a.m. Thursday to celebrate the grand opening of its indoor cycling studio at 4366 Boardman-Canfield Road.
The business claims to be the Mahoning Valley’s first dedicated to indoor cycling. It features 21 new spin bikes and other state-of-the-art equipment. It has 22 exercise classes to choose from.
Dream Maker Mattress will have a ceremonial ribbon-cutting at 10 a.m. Monday to celebrate its grand opening at 310 Elm Road NE. The company is locally owned and operated.
Mahoning Valley Accounting Society will sponsor a seminar about professional standards and responsibilities from 5:30 to 8 p.m., Tuesday at A la Cart Catering, 429 Lisbon St.
The seminar qualifies for three hours of continuing professional education. The cost is $119 for members, $139 for nonmembers. Registration is at 5 p.m. For information, call Jack Vacca at 330-533-1700.
Dealers post gains
For the second-straight month, franchised new-vehicle dealers in Northern Ohio posted double-digit gains in October compared with the same time a year ago.
According to statistics released Friday by the Greater Cleveland Automobile Dealers’ Association, dealers in northern Ohio sold 19,508 vehicles in October, compared with 17,314 during October 2012.
Year-to-date sales have are up by more than 10 percent over last year.
October sales figures for the Mahoning Valley have not yet been released by the Automobile Dealers Association of Eastern Ohio.
SAC pleads guilty
SAC Capital Advisors pleaded guilty to criminal fraud charges Friday, satisfying a deal with the government that requires the Connecticut-based hedge fund to pay a record $1.8 billion to settle charges that it allowed, if not encouraged, insider trading to occur for more than a decade.
The plea came in U.S. District Court in Manhattan four days after the government announced that the once influential hedge fund owned by billionaire Steven A. Cohen had reached the deal that also required it to shut down its operations to outside investors.
But Judge Laura Taylor Swain did not immediately accept the plea. She set a sentencing date for March 14, assuming she accepts it.
Vindicator staff/wire reports
Selected local stocks
Aqua America, .61, 24.93 —.29
Clear Channel, .61 25.81 —.39
Cortland Bancorp, 9.75.00
Farmers Nat., .126.31 .01
First Energy, 2.20, 38.85.53
FirstMerit Corp., .64,22.44 .57
First Niles Financial, .32,6.50.00
First Place Fin., .0026.0008
FNB Corp., .48,12.85.46
General Electric, .76,27.04.44
Motors Liquidation, .0422.00
Huntington Bank, .20, 9.015.305
JP Morgan Chase, 1.52,53.952.30
Key Corp, .22,13.02.56
LaFarge, 17.38 —.15
Macy’s, 1.00, 46.18.22
Parker Hannifin, 1.80, 116.121.59
RTI Intl. Metals,34.65—.17
Simon Prop. Grp.,4.60,152.95—2.37
Stoneridge 11.90 —.14
United Community Fin. 3.78.10
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.