BUSINESS DIGEST ||

Issue 2 opposed

YOUNGSTOWN

The Youngstown/Warren Regional Chamber’s Board of Directors recently voted to oppose Issue 2, the Ohio Drug Price Relief Act, which will appear on the General Election ballot in November.

Issue 2 proposes to prohibit the state from entering into contracts in which the net cost of a prescription drug purchased by the state is more than the lowest price paid by the U.S. Department of Veterans Affairs.

New managers

COLUMBIANA

The Flynn Automotive Group recently announced two new managers to its team along with one manager relocating.

Todd Dauterman has joined Donnell Ford-Lincoln of Salem as general manager after more than nine years selling the Ford product in Columbiana County.

Dauterman replaced Davey Jones, who returns to Donnell Ford in Boardman as sales manager.

Jeff Kelly has joined the group as marketing manager, replacing Patty Morris, who retires after 27 years with the Flynn Group.

The David A. Flynn Automotive Group is eastern Ohio’s largest automobile dealer group.

Strong month of hiring sends stock indexes higher

NEW YORK

Banks and other stocks climbed Friday after the government reported more gains in hiring last month, the latest signal that the economy is continuing to hum along. The modest gains wrapped up another quiet week for the stock market.

The Department of Labor said U.S. employers added 209,000 jobs last month. Investors sold government bonds and bet that interest rates are going to rise, which lets banks make more money on loans. Technology companies also rose. Weight Watchers soared after reporting a strong quarter while Viacom, the media company that owns Comedy Central and MTV, sank.

July was the second-consecutive month of strong hiring, suggesting that the U.S. economy is still growing steadily as countries in Europe and less developed countries come out of long slumps.

Toyota, Mazda plan $1.6 billion US plant

TOKYO

Japanese automakers Toyota Motor Corp. and Mazda Motor Corp. plan to spend $1.6 billion to jointly build an auto manufacturing plant in the U.S. – a move that will create up to 4,000 jobs, both sides said Friday.

The plant will have an annual production capacity of about 300,000 vehicles and will produce Toyota Corollas as well as a new Mazda crossover vehicle for the North American market.

Toyota wouldn’t say where the plant would be built. But because the new plant will build the Corolla, chances are it will be located near Toyota’s current Corolla plant in Mississippi to be close to parts supply companies. The companies expect the plant to begin operations by 2021.

Staff/wire reports

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Alcoa Inc., .1237.420.33

Aqua America, .71 33.710.12

Avalon Holdings,2.25-0.03

Chemical Bank, .2747.150.32Community Health Sys. 6.52 0.02

Cortland Bancorp, .2818.000.10

Farmers Nat., .1613.800.25

First Energy, 1.44 32.070.01

Fifth/Third, .5227.180.28

FirstMerit Corp.,--First Niles Financial, .1210.500.00

FNB Corp., .4813.670.20

General Motors, 1.5235.270.50

General Electric, .9225.780.02

Huntington Bank, .28 13.300.14

iHeartMedia Inc.,1.500.00

JP Morgan Chase, 1.9293.661.16

Key Corp, .3418.400.37

LaFarge, .34--Macy’s, 1.51 23.30-0.29

Parker Hannifin, 2.52 164.22-1.10

PNC, 2.20132.171.66

Simon Prop. Grp., 6.60164.532.58

Stoneridge 16.84-0.13

United Comm. Fin., .12 9.11-0.02

Selected prices from Friday’s 4 p.m. close.