Some local companies will be announcing third quarter earnings soon. Erie Insurance will release its earnings on November 6 while GE will announce their numbers today. GE has said profits for this quarter will be lower due to issues not only in the market but within the GE Capital section of their business. Erie has had a fair amount of exposure to the recent market troubles. Erie Indemnity expects to book a $2.4 million charge from the failure of Lehman Brothers, Erie Insurance Exchange will take a $12.2 million hit and Erie Family Life is expected to book a $4.8 million charge. Ouch.
Erie Insurance will reveal its third quarter financial results on Thursday, November 6, 2008, at 10 a.m. via webcast and phone. Prior to the conference call, Erie Indemnity will issue a press release reporting its results after the close of the market the day before.
There’s a bit of good news for the company. Erie Insurance has earned J.D. Power and Associates’ award for “Highest in Customer Satisfaction with the Auto Insurance Purchase Experience.” This award recognizes the top rankings in J.D. Power’s 2008 Insurance New Buyer Study, which assesses customers’ experience in purchasing a new auto insurance policy.
The plastics industry in Erie is also suffering. Over the last several years, the industry has seen a roughly 30% decrease in employees (i.e., job losses) as orders have decreased and the market has become more competitive.
Erie Mayor Joe Sinnott announced that State Street from the Bayfront Highway to Dobbins Landing will receive $200,000 in state grant money. The small stretch of State Street will be narrowed from four to two lanes in order to make it more pedestrian friendly and add additional greenery. Does this remind anyone of when former Mayor Tullio choked-off downtown State Street by turning it into a pedestrial mall?
Pennsylvania’s smoking ban will be a month old tomorrow. So far restaurants, bars and bowling alleys are still open. You can read our op-ed piece with Kelly Kidd, program manager for the NWPA Tobacco Control Program, here.
The Erie Regional Chamber and Growth Partnership just announced the Tap Into Erie campaign, which will market the city as a great choice for businesses that need water for production, such as small steel mills and breweries. The Chamber sent out a mailing to businesses in the Atlanta area, which has been plagued by drought recently. The mailing promised a five year, 40 percent water discount to businesses new to the area, and included a pair of cufflinks that looked like faucet handles. Seriously.
Lancaster County made the decision that voters won’t be turned away from polling places for wearing campaign buttons or other paraphernalia as long as they don’t involve “sound or light” (those are some buttons). This policy is along the same line that Erie as well as York, Lebanon, and Berks counties have passed. On the other hand there are a number of other counties that will ban political paraphernalia no matter what the form. The incongruity between counties is not only a problem in Pennsylvania, but exists across the United States as other states have their own unique policies.
PA Attorney General Tom Corbett announced the negotiations involving Countrywide Financial’s subprime mortgages are concluding and a settlement with Bank of America, which owns Countrywide, should be reached by the end of the month. If a settlement is reached, more than 10,000 Pennsylvanians may be eligible for relief such as modification of their mortgages, staying of foreclosure, or cash settlements.
The southbound off ramp at the Meadville exit on I-79 is back open after a very long summer of construction, as is the on ramp from route 322 south to Pittsburgh. And in Crawford County, there was much rejoicing.
PA Senator Bob Casey has coined a new phrase that is being bantered around by Senator Biden with regards to Senator McCain: “You can’t call yourself a maverick when all you’ve ever been is a sidekick.”
Governor Ed Rendell had a busy day yesterday signing into law 41 different bills. We’re all about the passage of House Bill 1147 which narrows the definition of a “chop shop.” It was simply way too broad in its previous form.
We reported earlier this week that last weeks heavy rains have swelled creeks locally, and that has prompted movement of steelhead out of Lake Erie and into the tributaries. Anglers should have a good weekend to make a catch, as the weather forecast is looking great for any outdoor activities.
Wegmans is closing the photo departments in all of its stores, including the two in Erie, this Saturday. In-store processing and film drop-off will be eliminated. The growth of digital photography has made this area of business less profitable for the grocery store chain, which ironically is based in Rochester, New York, home of Kodak.
Freshman Donte Harden, originally from Erie, leads the Ohio University Bobcats in rushing, and is 10th in the MAC (Mid-American Conference), with 339 yards and three touchdowns. He is also seventh in all-purpose yards with 120.2 per game.
The Otters fell to the Peterborough Petes last night, 4-2. Nick Palmieri and Brandon Biggers scored for the Otters, who dropped to 2-4-1-0 on the season.
Registration is open for the five-week fall session of Allegheny College’s Co-Motion movement and music program for babies and toddlers. The sessions, which run from 4:15 to 5 p.m. on Tuesdays from Oct. 21 to Nov. 18, will be held in the basement dance studio of the college’s Montgomery Gym. Co-Motion is for children aged 6 months to 36 months and their caregivers. The cost for the entire fall session is $30 for one child and caregiver and an additional $20 for a sibling.
Glass Growers Gallery is hosting a meet and greet for artist Jeremy Beightol on Friday, October 17th from 6 to 9 pm. His newest paintings will be on display there in the fall exhibit, “Oceans of Mercy”, until November 18th.
A cast reunion of the classic horror film “The Texas Chainsaw Massacre” will highlight the fifth Eerie Horror Film Festival, October 9-12, at the historic Warner Theater in Erie, Pennsylvania. Cast members Gunnar Hansen (Leatherface), Ed Neal (The Hitchhiker), Marilyn Burns (Sally), John Dugan (Grandpa), Allen Danziger (Jerry), Teri McMinn (Pam) and Bill Vail (Kirk), will be reuniting for only the second time since the movie was released nearly 35 years ago.
The Halls of Fear, a haunted house attraction located in Wesleyville, is gearing up for another year of Halloween fun. The Halls will begin Thursday, October 9th which is designated as a kids night. And beginning Friday, October 10th, the Halls will be for adults. Parking is located at the corner of Shannon & Station roads in Wesleyville. Unlike previous years, the Halls will be open for Halloween night. Here’s the full schedule: October 10, 11, 12, 17, 18, 19, 24, 25, 26, 30 and 31. Open 7 – 10 p.m. weekdays, 7 – 11 pm on weekends, and open 9 – 12 Midnight on Halloween night.
View this past Sunday’s comprehensive events list to see a list of events for the week and months ahead. If you would like your event posted here, please contact us via our online form.
Posted on October 10, 2008 at 7:25 am |
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