YBI receives grant

YBI receives grant

youngstown

The Youngstown Business Incubator received a $7,500 workforce development grant Wednesday from Merrill Lynch and the Bank of America Foundation.

The money comes as the YBI continues with its fundraising goal aimed at becoming less reliant on local and state funds.

“Supporting nonprofit organizations that connect people to jobs and skills is part of our efforts to help improve the financial lives of individuals and customers in the communities we serve,” said Jeneen Marziani, Ohio market president, Bank of America. “A trained workforce ensures we remain competitive.”

Consumers shares

minerva

Consumers Bancorp, the holding company of Consumers National Bank, reminds current shareholders that they have first rights on the purchase of 655,668 additional shares under a previously announced $10 million stock offering.

Ralph J. Lober, Consumers president and chief executive officer, said the offering will position the bank for growth opportunities and allow it to serve more customers and larger clients.

The bank is having community meetings to discuss the offering. The meeting dates and locations can be found at the bank’s website at www.consumersbank.com.

Opportunity forum

CANTON

The Stark County Minority Business Association is hosting a business- opportunity forum today for those interested in Ohio’s burgeoning oil and gas industry.

The event will take place from 1:30 to 6 p.m. at The Metropolitan Center, 601 Cleveland Avenue NW.

The Ohio Energy Resource Alliance is co-sponsoring the event, aimed at maximizing opportunities in the state’s shale development for Ohio’s minority businesses.

Stocks plunge

NEW YORK

A series of weak economic reports sent the stock market plunging to its lowest level in a month Wednesday.

Companies such as miners, banks and chemical makers, whose fortunes are most closely tied to the prospects for growth, led the market lower.

The troubling data included weak hiring at private companies, a plunge in mortgage applications and sluggish orders to U.S. factories.

The Dow Jones industrial average fell 217 points and finished at 14,960, a drop of 1.4 percent. It was the first close below 15,000 since May 6 and the biggest decline in seven weeks.

Stocks started lower and declined steadily throughout the day. After rising every month this year and climbing to record levels this spring, some investors said a significant pullback was overdue.

Vindicator staff/wire reports