Ohio State Business & Economics

Behind the Lucrative Assembly Line of Student Debt Lawsuits

nytimes.com

Behind the Lucrative Assembly Line of Student Debt Lawsuits


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Watch live: Bill Gates speaks in Cleveland for urban schools conference

cleveland.com

Watch live: Bill Gates speaks in Cleveland for urban schools conference


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Three Cleveland teens arrested after robbery at Lakewood credit union

cleveland.com

Three Cleveland teens arrested after robbery at Lakewood credit union


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What tax reform could mean for you

cleveland.com

What tax reform could mean for you


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Ohio University to allow beer sales at football games

wlwt.com

Ohio University to allow beer sales at football games


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Ben Suarez's company files for bankruptcy, blames federal investigation, recession for money woes

cleveland.com

Ben Suarez's company files for bankruptcy, blames federal investigation, recession for money woes


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Ohio tax-free weekend is here for back-to-school shopping

cleveland.com

Ohio tax-free weekend is here for back-to-school shopping


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Home / Ohio / Business
US appeals court orders halt on natural gas pipeline in Ohio
CLEVELAND (AP) — A federal appellate court has issued an order that temporarily prevents a company from building an 8-mile (12.87-kilometer) stretch of a high-pressure natural gas pipeline through a northeast Ohio city. In a 2-1 decision Wednesday, the 6th Circuit U.S. Court of Appeals granted Green a stay to stop NEXUS Gas Transmission from starting work on the city's portion of the $2 billion project while a lawsuit is pending   Read More ...
Categories: Business |  Law & Crime | 
Places: Americas |  North America |  United States |  Ohio |  Northeast Ohio | 
As Silicon Valley Gets ‘Crazy,’ Midwest Beckons Tech Investors
COLUMBUS, Ohio — They seem an odd couple. J. D. Vance, author of “Hillbilly Elegy,” his best-selling memoir of growing up in the postindustrial Midwest and his journey of escape. And Steve Case, the billionaire co-founder of America Online. But Mr. Vance joined Mr. Case’s investment firm this year to scour the Midwest for small yet promising start-ups, particularly for a new seed fund   Read More ...
Categories: Business | 
Tags: Enterprises |  Finance |  Investments |  Investors |  Start-ups | 
Places: North America |  United States |  Midwest |  Ohio |  Columbus | 
Akron officials begin planning for spending additional $16 million in income tax revenue
AKRON, Ohio - Despite dire shortages of fire-protection gear, rusted-out police cruisers and Akron roads that mimic driving on the moon, Mayor Dan Horrigan didn't want to assume voters would approve an income-tax increase last week. "I get superstitious. I didn't what to jinx myself and start spending money we didn't have," he said. "We've been quietly looking around at things, like what a new fire station looks like, what it would need   Read More ...
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Tags: Taxes |  Money |  Expenditure |  Income |  Money Management |  Taxation | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Northeast Ohio |  Summit County |  Akron | 
Ohio offers amnesty period for settling unreported tax debts
COLUMBUS, Ohio — Ohio taxpayers with unreported or underreported tax debts will get an amnesty period in which they can pay a reduced amount of interest and avoid owing further penalties if they settle up. Ohio's Department of Taxation is promoting the six-week amnesty program for residents and businesses, which runs from Jan. 1 to Feb. 15. During the amnesty window, eligible taxpayers who fully pay their delinquencies will pay half the normal interest and no extra penalties   Read More ...
Categories: Business | 
Tags: Taxes |  Money |  Debts |  Taxation | 
Places: Americas |  North America |  United States |  Ohio |  American South |  Atlantic |  West Virginia |  Columbus | 
Behind the Lucrative Assembly Line of Student Debt Lawsuits
A woman in a suburb of Columbus, Ohio, was sued twice, by two different creditors, over the same overdue student loan. Another person, in Illinois, was taken to court over a loan that had already been paid off. And hundreds of borrowers faced lawsuits over debts so old that they were no longer legally collectible. The cases all involved the same debt collector: Transworld Systems   Read More ...
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Tags: Judiciary |  Money |  Debts |  Civil Actions | 
Places: Americas |  North America |  United States |  Ohio |  Columbus | 
Dave's Markets starts same-day grocery delivery service today
Dave's customers can order, pay for and schedule delivery of groceries online via the website davesdelivers.com, which goes live today. Groceries will be priced online at the same prices as they are in store, and the service will cost $5.99 per order on baskets of at least $35 (or $7.99 for orders smaller than $35). The minimum order size is $10   Read More ...
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Tags: Markets |  Services | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
State, looking to recreate Wilmington's success, launches Grow Delaware Fund for small businesses
Looking to recreate the success of the Grow Wilmington Fund campaign, the state is joining forces with the city for a statewide effort to help small businesses succeed with the Grow Delaware Fund. Governor John Carney joined Wilmington Mayor Mike Purzycki to announce the expansion to the job growth initiatives Monday, now with a broader focus. The West End Neighborhood House, The Longwood Foundation, Discover Bank, Department of State Division of Small Business Development and Tourism and the National Development Council all played a role in getting the fund off the ground   Read More ...
Categories: Business | 
The GOP's tax bill could have cost The Q renovation project. The Q just beat it.
WASHINGTON - The Q got in under the gun. The new tax proposal from House of Representatives Republicans Thursday calls for nixing the use of tax-exempt bonds to build or renovate professional sports facilities. Viewed by critics including President Donald Trump as a subsidy to wealthy sports leagues and their multimillionaire owners, tax-free bonds are like loans with low interest rates   Read More ...
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Tags: Taxes |  Markets |  Bond market |  Taxation | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
NFL protests not hurting Pizza Hut's sales
"We're not seeing impact on any of that on our business," Greg Creed, CEO of Pizza Hut parent Yum Brands said in an earnings call Thursday according to Business Insider. Pizza Hut's overall sales gained 3 percent in the third quarter, which Fortune reported exceeded analysts' projections. Overall, the company, which also operates KFC and Taco Bell, experienced a 6 percent increase in sales   Read More ...
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Tags: Corporate |  Enterprises |  Sales | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
Bill O'Reilly is not returning to TV on Sinclair-owned stations, CEO says
The company's CEO Chris Ripley officially ended speculation the former "O'Reilly Factor" host was joining Sinclair, the conservative-leaning owner of 173 television stations across the country. "We get approached by people all the time, which is probably where these reports were coming from," Ripley said during an earnings call according to the Hollywood Reporter. "He did approach us. We do not have any interest in hiring him   Read More ...
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Progressive Insurance to create 900 new jobs in Highland Heights expansion
CLEVELAND, Ohio -- Progressive Corp. plans a $30 million expansion in Highland Heights, bringing 900 new jobs. The Mayfield-based insurer, which employs about 9,000 locally, was approved for a 12-year tax credit for nearly $63 million in new annual payroll. The Ohio Tax Credit Authority today said it approved a 2.35 percent job creation tax credit. In exchange, Progressive agrees to maintain the operations for at least 15 years   Read More ...
Categories: Business | 
Tags: Insurance |  Taxation |  Tax credits | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Cleveland | 
Parent wonders when to drop child as authorized user on credit card: Money Matters
Q: You frequently recommend adding a young adult child to your credit card account as an authorized user to help them build credit. I have not been able to find any information on the ramifications of removing that child from your credit card account. I do not believe they should be left on a parent's account indefinitely, but does it hurt their credit score if they are removed? Thanks, K   Read More ...
Categories: Business |  Family & Parenting | 
Tags: Money |  Parenting |  Children |  Credit Cards |  Credit | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
Do you want to lose this tax deduction? Will your congressman or congresswoman fight it?
WASHINGTON -- The Senate paved the way for tax reform with a tax-cutting budget late last week, and Americans could see the actual tax-reform bill soon -- a chance to know what's in and out. President Donald Trump and congressional Republicans have only provided a conceptual set of ideas so far, saying the middle class will win when income tax rates fall   Read More ...
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Tags: Taxes |  Taxation |  Tax deduction | 
Places: North America |  United States |  Midwest |  East |  Ohio | 
Watch live: Bill Gates speaks in Cleveland for urban schools conference
Eric Gordon, CEO of the district, called the conference the best professional development opportunity in the country. "We are really excited to bring 1,000 people in to see how spectacular our city is," he said. Personally, Gordon said he wants to learn more about how as an urban superintendent to develop a culture that will keep change going in the district after you leave the position   Read More ...
Categories: Business | 
Stock market is booming, so you should plan now for the next plunge
Since the end of World War II, we've averaged a 20 percent decline every five years. We're past due, since this market has been on fire since March 2009. We're one geopolitical event, one North Korean bomb, one Sept. 11-type attack from a devastating market plunge. Maybe a 20 percent drop. Maybe 30 percent or more. What if that drop happened tomorrow and happened to your retirement savings or kids' college fund? It may seem out of place to think about a decline in a market that has more than tripled in value in eight years and is up about 14 percent so far this year alone   Read More ...
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Tags: Markets |  Stock Markets |  Financial Markets | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
An Alternate Universe of Shopping, in Ohio
COLUMBUS, Ohio — It was a scorching day outside, hot even for late summer in Ohio, and yet I was freezing. I had stepped inside the EB Ice Box, a meat-locker-like display at the Eddie Bauer store here that was cooled to 13 degrees Fahrenheit. The metal-sheathed room looked out onto the promenade of an upscale shopping mall, and featured a large block of ice for a bench   Read More ...
Categories: Business | 
Tags: Markets |  Consumers |  Shopping | 
Places: Americas |  North America |  United States |  Ohio |  Columbus | 
Wells Fargo’s profits tumble as mega bank struggles to rebound from sales scandal
The bank reported disappointing profits Friday, bucking the trend set by its biggest competitors. The state of Ohio decided this week to extend a ban on working with the bank, and lawmakers are questioning whether Wells Fargo has paid a big enough price for its misdeeds. Wells Fargo was dethroned as the world's most valuable bank after the scandal hit, but now it's slipping further behind   Read More ...
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Places: Americas |  North America |  United States |  Ohio |  West |  Mountain |  Utah | 
Bite Squad adds healthy portion to its markets around U.S.
Bite Squad is delivering a lot more bites to many more cities from Columbus, Ohio, to Sarasota, Fla., and Honolulu. The restaurant delivery service that first launched in Minneapolis in 2012 has expanded to 30 markets, mostly through a flurry of 17 acquisitions of smaller delivery companies in recent months. “This last year has been an acquire-a-palooza,” said Craig Key, Bite Squad’s vice president of marketing   Read More ...
Categories: Business | 
Tags: Markets | 
Places: Americas |  North America |  United States |  Ohio |  Columbus |  Sarasota | 
Cleveland mayoral candidates on whether to divert tax dollars for downtown project
The unprecedented deal involves nuCLEus, a 54-story building proposed for property near Quicken Loans Arena. Developers want to tap future tax dollars on the building - including millions that would go to city schools - as part of the financing for the project. Gus Chan / The Plain Dealer In this case, developers want to use future tax revenues - those that would occur as a result of the project pushing up the property's value -- to help finance the project   Read More ...
Categories: Business | 
Tags: Taxes |  Taxation | 
CEO of Cedar Fair to leave that position in January
SANDUSKY, Ohio — Amusement park operator Cedar Fair Entertainment says its chief executive will leave that position in January and be succeeded by the company's president. The Ohio-based amusement park chain said current CEO Matt Ouimet will vacate that position on Jan. 1 and take a new role as executive chairman of Cedar Fair's board. Richard Zimmerman will become CEO of the company headquartered in Sandusky, about 65 miles west of Cleveland   Read More ...
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Places: Americas |  North America |  United States |  Ohio |  American South |  Atlantic |  West Virginia |  Sandusky | 
CEO of Cedar Fair to leave that position in January
SANDUSKY, Ohio (AP) - Amusement park operator Cedar Fair Entertainment says its chief executive will leave that position in January and be succeeded by the company's president. The Ohio-based amusement park chain said current CEO Matt Ouimet (WEE'-meht) will vacate that position on Jan. 1 and take a new role as executive chairman of Cedar Fair's board. Richard Zimmerman will become CEO of the company headquartered in Sandusky, about 65 miles (105 kilometers) west of Cleveland   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States |  Ohio |  Sandusky | 
CEO of Cedar Fair to leave that position in January
SANDUSKY, Ohio (AP) — Amusement park operator Cedar Fair Entertainment says its chief executive will leave that position in January and be succeeded by the company's president. The Ohio-based amusement park chain said current CEO Matt Ouimet (WEE'-meht) will vacate that position on Jan. 1 and take a new role as executive chairman of Cedar Fair's board. Richard Zimmerman will become CEO of the company headquartered in Sandusky, about 65 miles (105 kilometers) west of Cleveland   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States |  Ohio |  Sandusky | 
Three Cleveland teens arrested after robbery at Lakewood credit union
The robbery happened about 10:30 a.m. at The Unity Catholic Federal Credit Union on Madison Avenue near Hilliard Boulevard, according to a Lakewood police report. No one was hurt. The three boys, two 17 year olds and one 16 year old, walked into the bank and each walked away with an undisclosed amount of money, Lakewood police Capt. Ed Hassing said   Read More ...
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States Acting to Protect Buyers of Seller-Financed Homes
Photo Legislators in three Midwestern states are taking steps to protect consumers who buy cheap and often rundown homes from investors through seller-financed deals or rent-to-own leases. The legislative initiatives in Ohio, Illinois and Michigan come as the Consumer Financial Protection Bureau continues to investigate the activities of some of the larger firms in the seller-financing home business. Sales of rundown homes on long-term installment contracts — sometimes called contracts for deeds or land contracts — to people who could not qualify for a traditional mortgage are surging in several states, especially in the Midwest   Read More ...
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Tags: Finance | 
Places: Americas |  North America |  United States |  Ohio | 
Cleveland's East Side Market to open in January following $6 million renovation
CLEVELAND, Ohio - The East Side Market, which closed 10 years ago, is scheduled to reopen in January, providing fresh food, health services and a demonstration kitchen to the Glenville area. Northeast Ohio Neighborhood Health Services has spent several years developing the plans and seeking the $6 million it would take to bring the building at East 105th Street and St   Read More ...
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Tags: Markets | 
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Another Equifax breach worry: Fraudulent income tax returns
We also need to worry about thieves filing fraudulent income tax returns in our names. An IRS spokesman calls the Equifax breach "a serious situation." When Equifax's files were hacked this spring, the cyber thieves stole more than enough information to file fraudulent tax returns. They got people's names and addresses, plus Social Security numbers, birth dates, driver's license numbers and more   Read More ...
Categories: Business |  Law & Crime | 
Tags: Crimes |  Taxes |  Money |  Theft |  Income |  Frauds |  Taxation |  Tax returns |  Thieves | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
Cleveland Clinic to enter the Medicare insurance market
CLEVELAND, Ohio - For the second time this year, the Cleveland Clinic is entering a new insurance market. Starting Oct. 15, in Cuyahoga County, the Clinic will offer two co-branded Medicare plans with Humana, a Louisville, Kentucky-based insurance provider. The Humana Cleveland Clinic Preferred Medicare Plans will include an HMO plan for those with Medicare and a plan for those eligible for both Medicare and Medicaid   Read More ...
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Tags: Markets |  Insurance | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Cleveland | 
Republicans applaud tax plan, Democrats say it will benefit the rich
WASHINGTON - Republicans say the tax reform framework their congressional leaders unveiled today with President Donald Trump would provide the country with a fairer, simpler tax system that will work "for, not against middle-class families." "Our current tax code encourages U.S. companies to take jobs and investments overseas," said a statement from Ohio GOP Sen. Rob Portman. "The United States is falling behind while other countries are attracting more investment and more jobs at our expense   Read More ...
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Tags: Taxes |  Taxation | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
Ohio State University to cover financial gap for in-state, low-income students
COLUMBUS, Ohio - Ohio State University will cover the remaining cost of tuition and fees for low-income in-state students who receive aid from other sources. The university said it expects to spend more than $11 million a year to fill the financial gap left after students are awarded Pell grants, Ohio College Opportunity Grants and any merit awards. Current annual in-state tuition and mandatory fees on the Columbus campus total $10,591 for freshmen who are in Ohio State's new four-year tuition guarantee program, and $10,037 for continuing students   Read More ...
Categories: Business |  Education | 
Tags: Money |  Finance |  Students |  Higher Education |  Universities |  Income |  Low income |  Tertiary Education | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Columbus | 
What tax reform could mean for you
WASHINGTON -- President Donald Trump and Republican congressional leaders want to cut taxes, simplify the tax code and make it easier to file yearly tax returns. If they can pass this, it would affect most Americans with income, and save a lot of them money. How might this affect you? Here's what is known. What's the biggest news here? The United States now has seven income tax brackets, ranging from 10 percent for the lowest earners (those with incomes up to $9,235 for a single filer and $18,650 for a couple filing jointly) to 39   Read More ...
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Tags: Taxes |  Taxation | 
Places: North America |  United States |  Midwest |  East |  Ohio | 
Anthem to leave ACA market over market concerns
By The Associated Press Health insurer Anthem says it's leaving Maine's health insurance exchange next year due to market volatility and uncertainty. The move announced Wednesday means Maine is down to two insurers offering plans on the exchange set up by former President Barack Obama's health care law. Anthem this year rolled back its presence in Nevada, California, Ohio, Wisconsin, Georgia and its home state of Indiana   Read More ...
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Tags: Markets |  Insurance | 
Places: Americas |  North America |  United States |  Midwest |  East |  Indiana |  Ohio |  Wisconsin |  Nevada |  California | 
Anthem to leave ACA market over market concerns
By The Associated Press Health insurer Anthem says it's leaving Maine's health insurance exchange next year due to market volatility and uncertainty. The move announced Wednesday means Maine is down to two insurers offering plans on the exchange set up by former President Barack Obama's health care law. Anthem this year rolled back its presence in Nevada, California, Ohio, Wisconsin, Georgia and its home state of Indiana   Read More ...
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Tags: Markets |  Insurance | 
Places: Americas |  North America |  United States |  Ohio |  Wisconsin |  West |  Nevada |  Pacific |  California | 
Toys 'R' Us files for bankruptcy, but keeps stores open
NEW YORK (AP) -- Toys 'R' Us, the big box toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season -- and says its stores will remain open for business as usual. The company said the proceedings are a way for Toys 'R' Us to work with its creditors on restructuring the debt beleaguering it   Read More ...
Categories: Business |  Law & Crime | 
Tags: Money |  Debts |  Laws |  Law and commerce |  Insolvency |  Bankruptcy |  Bankruptcy | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
America's poverty rate drops to pre-recession levels; income and health insurance coverage up, census reports
Meanwhile, incomes and health insurance coverage improved last year, the bureau said in releasing results of its annual Current Population Survey. The poverty rate dropped to 12.7 percent in 2016 from 13.5 percent in 2015. Some 40.6 million of people were in poverty last year, 2.5 million fewer than in 2015. Median household income increased 3.2 percent to $59,039 a year ago, from $57,230 in 2015   Read More ...
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Tags: Money |  Insurance |  Income |  Health insurance | 
Places: North America |  United States |  Midwest |  East |  Ohio | 
Akron's new Northside Marketplace embodies shop local, with 35 retail start-ups
AKRON, Ohio -- The new Northside Marketplace, soon to open on the ground floor of the Northside Lofts, is designed as more than a shopping destination. With support from Downtown Akron Partnership and the Knight Foundation, Testa Companies' new indoor marketplace, planned to open in October, will serve as a kind of incubator to help startup companies grow, while offering Akronites a unique place to shop and gather   Read More ...
Categories: Business | 
Tags: Markets |  Enterprises |  Start-ups | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio | 
This crime in the workplace is costing US businesses $50 billion a year
There is a hidden risk facing small businesses across the country that often goes unnoticed until it suddenly rips through a firm's finances: employee theft. It's a crime that is costing U.S. businesses $50 billion annually, according to Statistic Brain. Matt Ham can attest to that. He has had two run-ins with thefts by employees at his small business, Computer Repair Doctor, which has eight stores in Florida, Ohio and South Carolina, which collectively totals 30 employees   Read More ...
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Places: Americas |  North America |  United States |  Ohio | 
Opening of natural gas plant first of many expected in Ohio
TOLEDO, Ohio (AP) — The opening of a plant that turns natural gas into electricity is the first of what's expected to be a wave to come into production across Ohio in the next few years. Ohio Gov. John Kasich says these natural gas plants are a big part of the state's energy future and will usher in huge investments, new jobs and lower utility bills   Read More ...
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Places: Americas |  North America |  United States |  Ohio | 
Cleveland man accused of ethnic intimidation in threat to kill Lebanese business owner
CLEVELAND, Ohio -- A Cleveland man faces an ethnic intimidation charge that accused him of threatening to shoot a Lebanese business owner and burn down his store. Darion Wright, 36, is charged in the Wednesday incident at the Glenville Grocery Store on East 105th Street near Sommerset Avenue, according to court records. His bond was set at $10,000 during his first court appearance Friday morning   Read More ...
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Tags: Enterprises |  Entrepreneurs | 
Places: Americas |  North America |  United States |  Asia |  Mideast |  Midwest |  East |  Ohio |  Lebanon | 
Ohio bill aims to eliminate $159 'marriage penalty' tax
COLUMBUS, Ohio - A bipartisan state bill would eliminate Ohio's so-called "marriage penalty" by allowing couples to separately file their state income tax returns. A married couple who each works full time and earns minimum wage pays $159 more a year in income taxes than they would if they filed separately, according to the Ohio Department of Taxation. State Reps. John Becker, a Union Township Republican, and David Leland, a Columbus Democrat, said in a statement that will eliminate the difference   Read More ...
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Tags: Taxes |  Money |  Income |  Taxation | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Columbus | 
Amazon project in North Randall wins estimated $7.8 million Ohio job-creation tax credit
NORTH RANDALL, Ohio -- The Ohio Tax Credit Authority approved an estimated $7.8 million job-creation tax credit Wednesday for Amazon, which plans to hire more than 2,000 workers to staff a planned fulfillment center in North Randall. At a meeting in Columbus, the state board signed off on a 1.35 percent, 10-year tax credit tied to the project, an 855,000-square-foot building where workers will pack and ship small items, including books and consumer electronics   Read More ...
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Tags: Taxes |  Taxation |  Tax credits | 
Places: Americas |  North America |  United States |  Midwest |  East |  Ohio |  Columbus |