Holiday Inn receives Torchbearer Award

Holiday Inn receives Torchbearer Award

HOWLAND

The Holiday Inn Express and Suites, 135 Highland Terrace Blvd., received the IHG 2014 Torchbearer Award, the company’s most prestigious award.

The Torchbearer Award was presented during the 2014 IHG Americas Investors and Leadership Conference in Las Vegas in October.

The awarded hotel is one of only 60 properties within the Americas chosen from the IHG system of more than 4,700 hotels for achieving the highest levels of excellence in all aspects of operation.

A 2014 Torchbearer trophy, the company’s symbol of top excellence, will be on permanent display at the hotel.

Edward DeBartolo scholarship launched

NEW YORK

The ICSC Foundation announced the launch of the Edward J. DeBartolo Sr. Scholarship, seeded by a $500,000 donation from the DeBartolo families, the DeBartolo Corp. and DeBartolo Holdings.

The scholarship will go to a graduate student of real estate, retail or a related field.

DeBartolo founded his company after World War II, building his first shopping center in Boardman, where the company had its headquarters.

He built the firm up to become one of the largest in the U.S. at the time of his death Dec. 19, 1994, with 63 malls, 18 community centers and several office buildings in 23 states, amounting to about 95 million square feet of commercial real estate.

Retail-sales report boosts stock market

NEW YORK

Good news on U.S. retail sales lifted the stock market Thursday, although worries about the latest plunge in oil prices kept the gains in check.

Investors are caught between two conflicting thoughts: The improving U.S. economy, lower energy costs and higher consumer spending are expected to boost profits for many companies. But the recent drop in oil prices, which has accelerated in recent days, has investors worried that earnings for energy companies will suffer.

The drop in the price of oil has been a significant reason why stocks are on pace to post their first weekly loss in nearly two months.

“Here on one hand the U.S. economy is doing very well. You can see it today in the retail-sales numbers. But the global economy isn’t doing well, which is why oil prices are dropping,” said Russ Koesterich, global chief investment strategist at Blackrock.

Unemployment-aid applications decline

WASHINGTON

Fewer people sought U.S. unemployment benefits last week, as the continued low levels of applicants reflect growing job security.

The Labor Department says weekly applications fell 3,000 to a seasonally adjusted 294,000. The four-week average, a less volatile measure, ticked up a slight 250 to 299,250.

Over the past 12 months, the four-week average has plunged 10 percent.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 26.28 0.21

Avalon Holdings,3.420.02

Clear Channel, .46 18.71 -0.36

Cortland Bancorp, 15.700

Farmers Nat., .128.29 0.25

First Energy, 1.44, 37.860.61

Fifth/Third, .5220.060.04

FirstMerit Corp., .64,18.18 0.16

First Niles Financial, .32,9.280

FNB Corp., .48,12.610.06

General Motors, 1.2032.190.21

General Electric, .88,25.410.14

Huntington Bank, .20, 10.240.01

JP Morgan Chase, 1.60,61.280.59

Key Corp, .26,13.510.03

LaFarge, 17.38 -0.09

Macy’s, 1.25, 61.240.94

Parker Hannifin, 1.92, 126.190.96

PNC, 1.92,88.990.21

RTI Intl. Metals,24.20-0.11

Simon Prop. Grp.,5.20,182.990.28

Stoneridge 11.38 0.12

Talmer Bank, 14.390.01

United Comm. Fin., .04 5.190.04

Selected prices at 4 p.m. Thursday. Provided by Stifel. Not to be construed as an offer or recommendation to buy or sell any security.