UAW backs Cordray
The United Auto Workers endorsed Democratic gubernatorial candidate Richard Cordray and his running mate, Betty Sutton, at their annual conference Tuesday.
“When the General Motors bankruptcy threatened the Lordstown plant, and the livelihoods of thousands of Ohioans, Rich and Betty were there for us and helped keep countless people on the assembly lines, with steady paychecks that could support their families,” said UAW Local 1112 vice president Tim O’Hara in a statement.
Local Giant Eagle stores will kick off their annual register campaign Friday. The campaign will raise funds for Akron Children’s Hospital Mahoning Valley’s Center for Childhood Cancer and Blood Disorders.
Throughout the campaign, which ends June 20, shoppers will be encouraged to donate $1 or more to Akron Children’s while checking out.
In 2017, local Giant Eagle stores raised more than $47,000 for Akron Children’s in 2017, according to a news release.
TJX tax credit
The estimated value of the Job Creation Tax Credit authorized for TJX is slightly more than $3.5 million, according to information provided by the Ohio Development Services Agency.
Gov. John Kasich announced this week the Ohio Tax Credit Authority had approved the credit for TJX’s proposal to build a distribution center in the village.
The Job Creation Tax Credit is based on jobs created and new payroll tax generated, according to the Ohio Development Services Agency. TJX has projected 1,000 new jobs and an annual payroll slightly more than $27 million.
Eastgate Regional Council of Governments’ Grow Mahoning Valley subcommittee will meet at 8 a.m. Tuesday in the 10th-floor conference room of the City Centre One Building, 100 E. Federal St., Suite 1000.
Farmers National Banc Corp. declared a quarterly cash dividend of $0.07 per share.
The bank reported the quarterly dividend payment represents a 40 percent year-over-year increase.
The common-stock cash dividend will have a record date of June 8 and is payable to shareholders June 29, according to a news release.
J.C. Penney CEO departs for Lowe’s
J.C. Penney CEO Marvin Ellison, a former Home Depot executive, is leaving the department store chain after less than four years to become the top executive at Lowe’s.
The announcement Tuesday, just days after J.C. Penney released disappointing results, sent its shares down more than 3 percent.
Ellison, one of only a few African-American CEOs at a Fortune 500 company, will succeed Robert Niblock at Lowe’s on July 2. Lowe’s has struggled to keep pace with rival Home Depot in a solid housing market, and Niblock previously had announced plans to retire.
Selected local stocks
Alcoa Inc., 49.63-0.74
Aqua America, .20 33.770.11
Chemical Bank, .2858.220.90
Community Health Sys, .214.44 -0.14
Cortland Bancorp, .1122.000.51
Farmers Nat., .0715.77-0.10
First Energy, .36 33.530.12
First Niles Financial, .059.800.00
FNB Corp., .1213.720.06
General Motors, .3838.290.20
General Electric, .1215.330.07
Huntington Bank, .11 15.360.14
JP Morgan Chase, .56113.030.88
Key Corp, .1120.610.20
Macy’s, .38 33.03-1.58
Parker Hannifin, .76177.97-4.46
Simon Prop. Grp., 2.88158.101.06
United Comm. Fin., .06 10.500.01
Selected prices from Tuesday’s 4 p.m. close.