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Friday, January 23, 2004

RMI Titanium workersplan Waddell Park rally
NILES -- Locked-out RMI Titanium workers, members of United Steelworkers of America Locals 2155 and 2155-7, will stage a rally at noon Saturday at Waddell Park in Niles. Dave McCall, USWA district director, will be guest speaker, and labor unions from across northeast Ohio and western Pennsylvania are invited to participate. About 380 hourly RMI employees have been locked out since Oct. 26 in a contract dispute. Talks are continuing.
Second Bancorp reportsincreased earnings
WARREN -- Second Bancorp earned $4.1 million, or 43 cents a share, in the fourth quarter, compared with $3.4 million, or 34 cents a share, in the same quarter the year before.
For all of 2003, the holding company for Second National Bank earned $23.2 million, or $2.41 a share, compared with $18 million, or $1.79 a share, in 2002.
Second Bancorp also declared a dividend of 19 cents a share, payable Jan. 30 to shareholders of record on Jan. 15. Second Bancorp is in the process of being acquired by Sky Financial Group of Bowling Green.
Stoneridge posts earningsof $5.1M in 4th quarter
HOWLAND -- Stoneridge, a maker of wiring products for vehicles, earned $5.1 million, or 22 cents a share, in the fourth quarter, compared with $4.5 million, or 20 cents a share, in the same quarter the year before. Net sales last quarter were $151.3 million, compared with $148.3 million in the same quarter of 2002.
Stoneridge said it expects per-share earnings in the first quarter of this year to be between 32 cents and 38 cents, compared with 31 cents for the first quarter of 2003.
The Howland-based company also said Thursday that it is appealing a jury verdict from last week. A Texas jury said Stoneridge must pay $36.5 million to the family of a man killed when a truck caught on fire after a fuel valve problem. If the appeal is unsuccessful, the company thinks it would be liable for $1.5 million plus interest because most of the judgment would be covered by insurance.
Broadband Hospitalitysigns Holiday Inn pact
BOARDMAN -- Broadband Hospitality, a Boardman-based provider of high-speed Internet access, has signed an agreement with Elden Motels to install and service a high-speed Internet system in its Holiday Inn Express property in Vermilion, Ohio.
Broadband Hospitality completed installation last month of a system at Holiday Inn Express Hotel & amp; Suites in Ashland, Ohio, another Elden Motels property. Broadband Hospitality has systems installed or under contract at more than 150 hotels.
From Vindicator staff reports