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BUSINESS DIGEST || Liberty reopenings



Published: Fri, January 3, 2014 @ 12:00 a.m.

Liberty reopenings

Liberty Tax Service will celebrate the reopening of three area offices with hot dogs, games, prizes and free tax advice. All celebrations will run from noon to 4 p.m.

The grand-opening party at 2633 Market St. in Youngstown will take place today. The Boardman office at 90 Boardman-Poland Road will reopen next Friday, and the Youngstown location at 2622 Mahoning Ave. will mark its reopening Jan. 11.

Tryko purchases

YOUNGSTOWN

Tryko, the New Jersey-based private-equity real-estate group, has acquired two area apartment facilities, marking the firm’s first foray into Ohio.

Tryko purchased Compass West Apartments in Austintown and Valley View Apartments I and II on Youngstown’s West Side from limited partnerships owned by Jim Manchi in late December.

Gas rates increase

YOUNGSTOWN

As of Jan. 14, customers of Dominion East Ohio’s Standard Choice Offer will pay rates of $5 per thousand cubic feet (mcf) of natural gas, which is 58.9 cents higher than December’s rate and $1.05 higher than last January’s SCO rates.

Customers also will see a total monthly charge of $22.01, including recovery charges for pipeline infrastructure replacement and automated meter reading and riders totaling 31 cents per mcf.

ODNR lists wells

COLUMBUS

The Ohio Department of Natural Resources listed 285 wells for the third quarter of 2013, with 245 of those reporting production.

The producing wells generated 1.3 million barrels of oil and 33.6 million mcf (1,000 cubic feet) of natural gas. The 40 wells that were not producing were waiting on pipeline infrastructure, ODNR said in a press release.

Of the 245 wells, an average of 5,439 barrels of oil and 137,168 mcf were produced over an average of 55 days of production.

PNC cash dividend

PITTSBURGH

PNC Financial Services Group Inc. announced a quarterly cash dividend on common stock of 44 cents per share.

The dividend is payable Feb. 5 to shareholders of record as of Jan. 15.

The board of directors also declared cash dividends for various preferred stocks.

Fiat stocks soar on Chrysler deal

ROME

Shares in Fiat soared Thursday on the news the Italian automaker will take full ownership of Chrysler, but some Italian unions worried what the deal will mean for jobs and investments in the country.

In a New Year’s day announcement, Fiat SpA said it could complete its acquisition of Chrysler without having to raise new capital through a rights issue. Investors cheered the fact, bidding the shares up 12 percent on the Milan exchange.

Fiat will buy a 41.5 percent stake held by a United Auto Workers union trust fund for $1.75 billion in cash and an additional $1.9 billion in extraordinary dividends. The deal is due to close by Jan. 20.

Vindicator staff/wire reports


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