BUSINESS DIGEST || To use rail sidingPublished: 11/20/13 @ 12:00
To use rail siding
The pending sale of the Columbiana County Port Authority railroad also could mean new life for an Elkrun Township rail siding.
Tracy Drake, port authority CEO, reported at Monday’s meeting the current railroad operator is planning to contract with Buckeye Transfer Realty to operate the railroad siding off state Route 154 in Signal.
Buckeye Transfer, of Columbiana, operates a hub for receiving and storing sand used in hydraulic fracturing, more commonly known as fracking, a drilling process used to release oil and natural gas from shale formations.
Drake expects Buckeye to use the railroad to have sand shipped to the siding, where it will be unloaded onto trucks for transportation to drilling sites in the area. The company plans to move up to 2,000 rail cars annually through the siding and employ eight workers.
Dennis Parks, president of Shepherd of the Valley Lutheran Retirement Services Inc., announced that the organization will promote Rich Limongi to the position of executive-director designee.
Executive Director Don Kacmar announced in June his intention to retire in 2014. Limongi served as director of daily operations at Shepherd’s Boardman location on West Boulevard.
Shepherd offers a comprehensive continuum of care including independent and assisted living, skilled nursing, and rehabilitation services for more than 600 residents.
Price of gas rises
After falling to a multiyear low of $3.18 per gallon Nov. 12, the national average price of gas has inched higher on seven-straight days, according to AAA East Central, a nonprofit association with 82 offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky.
Tuesday’s national average at the pump — $ 3.21 per gallon — is 3 cents more expensive than one week ago, but it remains 14 cents cheaper than one month ago and 21 cents less than the same day last year.
Drivers in more than 30 states and Washington, D.C., are paying more for gasoline compared to one week ago, the AAA said.
First Niles dividend
First Niles Financial Inc. reported a cash dividend of 5 cents per share on common stock and 6 cents per share on preferred class A stock for the fourth quarter of this year.
First Niles is the parent company of Home Federal Savings and Loan Association of Niles.
Home Federal, which serves primarily the Niles area, exceeded all its applicable regulatory capital requirements as of Sept. 30.
Pre-Black Friday sale
Wal-Mart Stores Inc. announced Tuesday that it will kick off a pre-Black Friday savings event in stores and online at 8 a.m. Friday, lowering the prices on popular toys and electronics, to match select Black Friday offers from Target, Toys “R” Us and Best Buy one week early.
Walmart’s official Black Friday events will take place at 6 p.m. and 8 p.m. Thanksgiving Day and at 8 a.m. Nov. 29.
Vindicator staff/wire reports