GM pension change

GM pension change

DETROIT

General Motors Co. says it plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried workers annual bonuses instead of pay raises in an effort to hold down expenses.

The Detroit-based automaker said Wednesday that roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401 (k)-type plan with contributions based on salary and bonuses. Employees hired after 2001 already are in the defined-contribution plan. Changes will take effect Oct. 1.

GM also said it’s offering bonuses to all 26,000 salaried employees and will release the amounts when quarterly earnings are announced today.

F.N.B. dividend

HERMITAGE, PA.

F.N.B. Corp. announced Wednesday a quarterly cash dividend of 12 cents per share on its common stock.

The dividend is payable March 15 to shareholders of record as of March 1. F.N.B., based in Hermitage, Pa., has total assets of $9.8 billion.

Masonry seminar

VIENNA

Area architects, engineers and members of the Builders Association of Eastern Ohio and Western Pennsylvania are invited to a seminar about optimizing structural masonry.

Tom Nagy, director of the Ohio/Western Pennsylvania International Masonry Institute, will be the guest speaker at the lunch-and-learn event at noon March 20 at the Avalon Country Club at Squaw Creek.

Registration is required. For information, contact Dan Fry at dan@thebuildersonline.com, call 330-539-6050, or visit www.thebuildersonline.com/masonry.

New bank office

MINERVA

Consumers National Bank announced Wednesday that it has purchased an office building at 4026 Dressler Road NW in Jackson Township. The 6,800-square-foot facility initially will house the bank’s mortgage department and a new Canton-based loan-production office.

Leading indicators up

YOUNGSTOWN

The Youngstown-Warren-Boardman area leading- indicator index rose 0.2 percent in December to 87.0, indicating rising employment this winter and early spring, according to the Ohio Department of Job and Family Services.

Total nonfarm-payroll employment dropped slightly to a seasonally adjusted 224,900 jobs, a higher level than in December 2010.

Average weekly manufacturing hours increased 2.2 percent to 41.3 hours.

Unemployment compensation had 5,198 initial claims in December.

Valuation of residential- construction permits fell to $2.2 million, much lower than in December 2010.

Tourism campaign

COLUMBUS

The Ohio Department of Development’s Office of Tourism announced Wednesday that the 2011 “Too Much Fun for Just One Day” advertising campaign resulted in a $14-to-$1 return on investment for Ohio.

The return on investment topped previous Ohio tourism campaigns. The return on investment in 2009 and 2010 was $13 to $1.

Vindicator staff/wire reports