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Newspaper
New Castle News
Location
New Castle, Pennsylvania, United States of America
Date
Aug 09, 2000
Page
18
FirstMerit Corp. reports diluted earnings per share of 45 cents for Q2 2000, up from 42 cents a year earlier. New income rose to $40 million, while net interest income on a fully tax equivalent basis fell to $96.2 million due to a narrower net interest margin.
Akron based FirstEnergy Corp. plans a 4.5 billion dollar cash and stock acquisition of New Jersey based GPU Inc. creating the sixth largest investor owned electric utility in the nation. The merger towels 4.3 million customers across Ohio, Pennsylvania and New Jersey and expands FirstEnergy's energy, gas and telecom operations.
Over-the-counter stock figures released at 10 13 a m today list the bid prices. Parker Hunter Inc officials in New Castle supplied the quotes for the market report indicating current bid levels across OCRs and related securities.
Geneva College in Beaver Falls established the Geneva Foundation to steer donor gifts to charities matching donors interests. The fund aims to reach $10 million in three years, starting with a $50,000 donation. Ten percent of all donations will return as tithes to the college, with distribution directed by consultants. G Reynolds Clark, a trustee and 1965 Geneva graduate, will lead the foundation.
Pittsburgh based Blue Hammock Inc. launches Blue Hammock Software India in Hyderabad a 13000 square foot facility to train up to 125 electronic marketing consultants annually for clients in the United States Europe Australia and Asia. Robert Lang chairman and CEO says the hub complements domestic recruiting to ensure a steady flow of top consultants for global markets.
Erie County developer Steve Rapp says Whispering Woods in Millcreek Township will grow to nine phases and 334 homes, with prices from 200 000 to 600 000. The rugged terrain of creeks hills and ravines complicates the design, and two other developers have reportedly faced bankruptcy attempts on the site.
U.S. productivity rose 5.3 percent in the April to June quarter, fastest 12 month gain in 17 years, as output per hour surged and unit labor costs fell. Fed watchers expect steady rates after six increases in 14 months, with productivity gains easing inflation fears and supporting living standards.
Attorneys general from 28 states led by Pennsylvania allege record labels illegally profited by pressuring discount stores to raise CD prices in 1995. The firms deny wrongdoing and will contest the suit, which follows a separate FTC settlement that ended minimum advertised price programs tied to advertising funds.
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