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Published: Tuesday, November 28, 2017 @ 2:12 AM
Updated: Tuesday, November 28, 2017 @ 2:12 AM
SEOUL, South Korea — Hyundai Motor's workers have resumed production after a walkout on two assembly lines, the company and the union said Wednesday.
Workers returned to the plant in Ulsan, 380 kilometers (236 miles) southeast of Seoul, late Tuesday. Nearly 2,000 workers, or 4 percent of the company's 51,000 union members, had stopped work Monday after talks collapsed over the terms for producing the Kona, Hyundai's first compact SUV. The talks had resumed, Hyundai said.
The walkout delayed production of about 1,200 vehicles, Hyundai said. The Kona is due to launch in the U.S. market early next year.
Among other issues, the union said it was concerned that workers might lose jobs because the assembly process for the Kona is more automated than for the Accent, a sedan also being manufactured at the Ulsan plant.
Hyundai, part of the world's fifth-largest auto group along with its smaller affiliate Kia Motors Corp., introduced the Kona in South Korea in June.
Having focused on passenger sedans, the company is now trying to catch up in the faster-growing SUV market.
Published: Thursday, June 21, 2018 @ 12:11 PM
Shares of Kroger Co. surged Thursday after the company topped Wall Street expectations and gave an upbeat outlook.
The grocery store has been making more investments in online offerings while shedding more traditional convenience stores in an effort to become more competitive. Earlier this year it sold its convenience store unit for $2.15 billion and then went on to increase its investment in British online grocer Ocado.
Kroger has invested more than $53 million in its regional presence in recent years. It has 44 supermarkets, 12 locations with ClickList services and another 10 locations with Starbucks services. The popular grocer employs more than 8,100 associates in the Dayton region.
» TRENDING: Bill’s Donut Shop to close for renovations
It also bought meal-kit seller Home Chef as competitors including Albertsons and Amazon also expand into that market.
The stock gained $2.90, or 11 percent, to $29.12 in premarket trading.
The Cincinnati company’s profit surged to $2.03 billion, or $2.37 per share, mainly on the sale of its convenience store unit. Earnings, adjusted for non-recurring gains, came to 73 cents per share.
Revenue rose 3.4 percent to $37.53 billion.
Analysts expected profit of 63 cents per share and revenue of $37.21 billion.
Other key figures include a 66 percent boost in digital sales and a 1.9 percent boost in same store sales, topping expectations for 1.5 percent growth.
The company tightened guidance and now expects between $2 and $2.15 per share in profit for the year. The low end of the range had been $1.95 per share.
Published: Thursday, June 21, 2018 @ 10:34 AM
Dayton — A new study on potentially dangerous substances found in water is coinciding with the city of Dayton’s own recent findings in a startling coincidence.
Paul Buszka, a supervisory hydrologist with the U.S. Geological Survey in Indianapolis, pointed to the release Wednesday of a draft study about the risks posed by PFAS substances (polyfluoralkyl) from the federal Agency for Toxic Substances and Disease Registry.
The study lowers the level at which no harm would be expected into the single digit parts-per-trillion (ppt) range.
According to the study, the proposed “minimum risk levels” of PFAS equate to about 7-ppt and 11-ppt for two compounds.
Those levels are close to levels of similar compounds found in local water this year.
Dayton and Montgomery County have been sending customers notices with the results of recent testing of treated water leaving the city’s Ottawa Water Treatment Plant. The results of March testing show PFAS detected at a level of 7 to 13 parts per trillion.
Experts are reacting to the new study carefully.
“If you’re getting close to those levels — and again this (draft study) was just released — just the idea that those compounds are present is a reason for people to sample and to understand the extent of the issue better,” Buszka said in an interview. “That’s probably as far as I would go with it.”
He referred further questions to the Ohio Environmental Protection Agency.
An Ohio EPA spokesman took questions about the study but had no immediate responses.
A new study lowers the acceptable level of chemicals found in water uncomfortably close to Dayton's own levels. https://t.co/AEQGzak2H5— DaytonB2B.com (@daytonb2b) June 21, 2018
“Looks like the lower exposure levels may be of concern, although I have not had time to read carefully, only skim,” said Rita Loch-Caruso, a professor of toxicology and water expert at the University of Michigan.
“So what advice to give? It is hard to say without a more careful review,” Loch-Caruso added.
U.S. Rep. Mike Turner, R-Dayton, applauded the release of the draft findings Thursday.
Published: Thursday, June 21, 2018 @ 11:29 AM
SPRINGBORO — The final touches are about to be put on intersection improvements at Springboro’s central crossroads, and the city council is scheduled to consider voting to set up a special taxing district diverting revenues from the redevelopment of the northwest corner.
More than $20 million is being spent on the two projects expected to totally make over the area around the intersection of Ohio 73 and Ohio 741, Central Avenue and Main Street in Springboro.
“Weather permitting, work will begin on the crosswalks on Monday, June 18, and should last 4-5 days, as long as Mother Nature cooperates. Traffic will be maintained and the intersection will remain open; however, with worker safety being of utmost importance, some lanes may be shut down as work is being done,” the city said in a message emailed this morning.
Tonight, Springboro City Council is scheduled to consider approving legislation establishing a 10-year, 100 percent tax incremental financing (TIF) district for the northwest corner. That is where Mills-Barnett Development has agreed to spend $10 million on a commercial development anchored by a $3.5 million Springboro Center for the Performing Arts and $3.7 million in roads and other infrastructure.
“However, this TIF will make the Springboro Community City Schools and Warren County Career Center (WCCC) ‘whole’ from a property tax perspective. Meaning, the schools will receive every property tax dollar earmarked for the schools and WCCC from future development that they would have received before the TIF was created,” City Managger Chris Pozzuto said in a memo to council.
A map attached to the legislation indicates the area included in the TIF redevelopment area includes a small piece of land on the southwest corner where a Speedway station-convenience store previously was located and a larger L-shaped parcel on the northeast corner where a service station, carpet store and pizza parlor were located before the land was purchased by the city during the intersection improvement project.
The city has already spent $10 million on the intersection redesign and acquisition of the former Springboro IGA Plaza on the northwest corner. Pozzuto said it plans to use a rebate from money committed to the intersection to fund infrastructure for the redevelopment of the corner.
Published: Wednesday, June 20, 2018 @ 11:31 AM
— A record low supply of homes slowed the pace of home sales in the Dayton region.
The number of Dayton-area homes for sold in May dropped 2 percent compared to the same time last year, with 1,626 home sale reported for the month.
One reason for the dip is the limited supply of homes available to buy, according to Dayton Realtors, which represents Montgomery, Greene, Darke, Warren, and Preble Counties.
The association said there is just a 2.4 months supply of homes available, which is a record low for the month of May.
While you might have limited homes to chose from, you’ll also likely have to pay more than you would have last year.
May’s median sales price came in at $145,000, up 8 percent from last year. The average price of $171,061 was also up 8 percent from the same time last year.
Sales volume generated by May’s activity totaled $272.8 million, which is up 6.5 percent since last May.
There were 2,149 new listings added in May, down 1 percent from last year’s 2,173, while year-to-date listings tallied 8,710, a 2.8 percent decrease from the 8,960 submitted through May of last year.
Total inventory was low, showing 3,968 properties available at month’s end, representing a supply of only 2.4 months based on May’s pace of sales.