Torch Awards

Torch Awards

YOUNGSTOWN

The Better Business Bureau serving Columbiana, Mahoning and Trumbull counties announced the Torch Awards for Marketplace Trust winners Tuesday. Winners of the Torch Awards for Marketplace Trust are: Baird Brothers Sawmill Inc. of Canfield, Millwood Inc. of Vienna and Gettemy Drain Service of Canfield.

The Torch Award for Civic Leadership goes to Scott Schulick. And the Torch Award for Nonprofit Excellence goes to Akron Children’s Hospital of the Mahoning Valley.

The award presentation will be May 8 at The Lake Club, 1140 Paulin Road, Poland. The event celebrates BBB-accredited businesses and leaders that exemplify BBB Standards for Trust.

For table or ticket information, contact BBB at 330-744-7151 or melissa@youngstown.bbb.org.

Sears, Simon create join venture

HOFFMAN ESTATES, Ill.

Sears Holdings Corp. and Simon Property Group Inc. announced this week they have created a joint venture as part of Sears Holdings’ efforts to unlock the value of its portfolio of real-estate holdings.

The properties involved in the transaction are valued at $228 million. In exchange for $114 million and a 50 percent interest in the venture, Sears Holdings has contributed 10 of its properties at Simon malls to the venture. Simon contributed $114 million in cash in exchange for its 50 percent interest in the venture.

84 families to get compensation from General Motors

DETROIT

Families of at least 84 people killed in crashes caused by defective General Motors ignition switches will get compensation from the company.

Atty. Kenneth Feinberg, who was hired by GM to compensate victims, updated the total this week. It was up from 80 last week.

An additional 157 injured people also are eligible for compensation.

The fund received 4,342 claims by the Jan. 31 deadline. Of those, 1,136 are still under review. Feinberg says more than half are ineligible or lack documentation.

GM knew about problem switches in Lordstown-built Chevrolet Cobalts and other small cars for more than a decade but recalled them only last year. They can slip out of the “on” position, which cuts off the engine, knocks out power steering and turns off air bags.

FirstEnergy to close three power plants

AKRON

FirstEnergy will close three coal-burning power plants today as part of a company plan to comply with the U.S. Environmental Protection Agency regulations on emissions of mercury and other air pollutants.

The Akron-based corporation announced in January 2012 that it would close six coal-burning plants, including facilities in Cleveland, Eastlake and Ashtabula, in September of that year. Officials said in May 2012 that it would delay the closings of the three Northeast Ohio plants by three years to allow the company to upgrade transmission lines.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .61, 26.860.22

Avalon Holdings,2.58-0.01

Clear Channel, .46 22.06-0.4

Cortland Bancorp, 15.160

Farmers Nat., .128.16-0.03

First Energy, 1.44, 35.720.03

Fifth/Third, .5219.01-0.2

FirstMerit Corp., .64,19.36-0.19

First Niles Financial, .32,8.500

FNB Corp., .48,13.10-0.16

General Motors, 1.2036.540.14

General Electric, .88,27.710.08

Huntington Bank, .20, 11.18-0.11

JP Morgan Chase, 1.60,63.060.99

Key Corp, .26,14.13-0.12

LaFarge, 16.57-0.03

Macy’s, 1.25, 68.01-1.15

Parker Hannifin, 1.92, 121.100.6

PNC, 1.92,93.510.19

RTI Intl. Metals,37.400.31

Simon Prop. Grp.,5.20,191.611.28

Stoneridge 11.700.07

Talmer Bank, 15.940.15

United Comm. Fin., .04 5.38-0.14

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