The Akron Beacon Journal from Akron, Ohio • Page D001

USINESS SUNDAY: Consumer writer Betty Lin-Fisher reports on whether credit card balances help or harm credit scores. Saturday, October 27, 2012 INFORMING. ENGAGING. ESSENTIAL. D1 Saturday, October 27, 2012 Name Address City State Zip Phone E-mail Mail your completed entry form to: Akron Beacon Journal Attn: Contest Corner P.O.

Box 640 Akron, OH 44309-0640 No purchase necessary. One cial entry form per person per day available at the Akron Beacon Journal Public Service ounter. No photocopies accepted. Entry form must be postmarked by Wednesday, October 31, 2012. or drop entry off at: Barrington Carpet Flooring Design 3602 S.

Arlington in Akron Sign me up to receive email cations of sales, coupons, and special events Worth Talking To The Experts ENTER TO WIN a $1000 Shopping Spree from Ceramic Tile Hardwood Luxury Vinyl Carpet Laminate Cork Bamboo Visit us at barringtoncarpet.com COMPANIES CONSUMERS LOCAL BUSINESS Inventapalooza event set Inventapalooza, the Akron Summit County Public celebration of invention, returns Nov. 2-3 at the Main Library at 60 S. High St. downtown. The event focuses on small businesses, as well as providing information and fun activities for inventors, entrepreneurs and families, the library said.

Inventapalooza also will feature a group of local inventors the Inventors Roundtable sharing tips for bringing a product to market. The inventors will answer questions from the audience. the schedule of events: Nov. 2: 3 p.m. Craig Morris, managing attorney for the U.S.

Patent and Trademark Office in Alexandria, What Every Small Business Owner Should Know Now, Not Later Nov 3: 9:30 a.m. Library system Director David Jennings, welcome address; 9:40 a.m. Craig Morris repeats the same program; 11 a.m. Things That Go, story time, Library; 11:30 a.m. Jeff St.

Clair, with WKSU-FM public radio, ExploRadio: Exploring Science and Innovation in Northeast Ohio 1 p.m. Inventors Roundtable; 2 p.m. Highways and Byways family activity, Library. For more information, contact the Main Science Technology division at 330-643-9075 or AUTO INDUSTRY Toyota back on top Toyota has widened its global sales lead over General Motors because its factories have recovered from last earthquake. The Japanese automaker said it sold 7.4 million vehicles around the world through September, up 28 percent from a year earlier.

450,000 more than General Motors, which said it sold 6.95 million cars and trucks. global sales are up 2.5 percent for the first nine months. Toyota could face a slowdown in the fourth quarter as sales fall in China. ENTERTAINMENT Cedar Point to serve Coke Cedar Point visitors will find out next year whether roller coasters go better with Coke. The parent firm, Cedar Fair LP, announced a 10-year pact to make Coca-Cola the Refreshment of its parks starting in January.

The terms were not made public. The parks previously sold Pepsi products. RETAIL Best Buy forecast weak Best Buy the retailer resisting a takeover attempt by its founder, said fiscal third-quarter profit will be below last results as sales at established stores continue to decline. Comparable-store sales will drop at a rate consistent with the first two quarters, Richfield, based Best Buy said. Same-store sales fell 5.3 percent in the first quarter and 3.2 percent in the second.

Prices up 3 to 4 percent U.S. consumers will pay 3 percent to 4 percent more for groceries next year, the Department of Agriculture said, leaving its forecast unchanged from last month. Retail food prices for this year will rise by 2.5 percent to 3.5 percent, the USDA said. That figure was also unchanged from last projection. ENERGY Acquisitions fall off The wheeling and dealing over the natural gas-rich Marcellus Shale has hit the pause stage.

The financial firm PricewaterhouseCoo- pers said Marcellus merger and acquisition activity fell to zero in the third quarter of 2012, after major energy companies spent tens of billions of dollars over the last three years. In the previous quarter the deals had totaled $1.6 billion. PricewaterhouseCoopers said low natural gas prices are the main factor, not the output or potential of the vast shale gas formation, which lies under parts of Pennsylvania, West Virginia, New York, Ohio and Maryland. But the current low prices have caused many companies to shift their attention to more profitable oil drilling, which is also booming. Compiled from staff and wire reports.

Goodyear sales down from 2011 By Jim Mackinnon Beacon Journal business writer oodyear on Friday reported a profitable third quarter, although earnings and revenue were substantially lower than a year ago as tire sales slowed. The Akron tire results failed to meet analyst expectations and Goodyear shares fell. Shares dropped $1.27, or 10.3 percent, to $11.03 on heavy trading volume. A bit more than 15 million shares changed hands; recent average was 4.6 million shares daily. Even as overall revenue and income fell from 2011 levels, the Akron tire maker said that its critical North American Tire segment had a strong financial performance and is on track to exceed profitability goals of $450 million a full year ahead of schedule.

The company also reaffirmed 2013 corporate earnings targets, saying it expects to have $1.6 billion in operating income for the year. To reach that goal, Goodyear will rely more on North American Tire results and less on its other global operations in addition to taking other measures, Richard Kramer, chairman and chief executive officer, told industry analysts. Goodyear Tire Rubber Co. earned $110 million, or 41 cents per share, on revenue of $5.3 billion. Net income was down 31.7 percent from $161 million, or 60 cents per share, for the third quarter of 2011.

Revenue was down 13.2 percent from a quarterly record $6.1 billion a year ago. Adjusted earnings were 53 cents per share; analysts surveyed by Bloomberg News expected Goodyear to show 59 U.S. economy grows as consumers spend more By Christopher S. Rugaber Associated Press WASHINGTON: The U.S. economy grew at a slightly faster 2 percent annual rate from July through September, buoyed by more spending by consumers and the federal government.

Growth accelerated from the 1.3 percent rate in the April-June quarter, the Commerce Department said Friday. The report is the last snap- shot of economic growth before Americans choose a president in 11 days. The pickup in growth could lend weight to President Barack message that the economy is improving. Still, economists say growth remains too weak to rapidly boost hiring. And the 1.74 percent annual growth rate for the first nine months of 2012 trails last 1.8 percent growth a point that Republican nomi- nee Mitt Romney might emphasize.

The economy grew faster Latest report could figure into presidential race Stocks finish mixed on earnings reports Associated Press NEW YORK: Stocks closed mostly lower Friday after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter. The Dow Jones industrial average managed a gain of 3.53 points to close at 13,107.21 after spending much of the day in the red. The Standard 500 index fell 1.03 points to 1,411.94 and the Nasdaq composite rose 1.83 points to 2,987.95. Even economic data that is mixed or positive outweigh weak earnings, said Lawrence Creatura, a portfolio manager with Federated Investors.

earnings trump macro data. Because investors own Apple, they own Creatura said. Fast-food restaurant proposed in Fairlawn By Marilyn Miller Beacon Journal staff writer FAIRLAWN: Corp. wants to build a restaurant at West Market Street and Shiawassee Avenue. Plans for a building have been submitted to the Fairlawn Planning Commission, which will review the proposal at its Nov.

8 meeting. The restaurant would be on the same main road located between the at Wall- haven at 390 W. Market St. and the one in Montrose at 3875 Medina Road. Mike Lewis, of corporate real estate development department, said is purchasing three parcels, which include 2901 W.

Market 2919 W. Market St. and 30 Shiawassee Ave. The location was formerly a Gulf and Sunoco gas station that was demolished in 2009. the underground tanks were removed and remediated in accordance with BUSTR requirements (Bureau of Underground Storage Tank said Chris Randles, who heads the zoning department in Fairlawn.

BUSTR is a federally mandated program created by the state fire marshal that regulates the safe operation of underground storage tank removals for environmental compliance. Randles said no rezoning is required. The property purchase has not been finalized. According to zoning board records, the owners of the properties are Lupo Commission to review plans for on West Market Street AKRON TIRE MAKER REPORTS PROFITABLE THIRD QUARTER By Michelle Chapman Associated Press Newell Rubbermaid Inc. said Friday it plans to cut more than 1,900 jobs, or about 10 percent of its worldwide work force, over the next years.

The consumer products company, known for Sharpie pens and its namesake containers, said all savings from the job cuts will be reinvested into growing its brands globally and adding new sales capabilities in emerging markets. Newell Rubbermaid, which has food container manufacturing operations on Gilchrist Road in Mogadore and is winding down operations in Wooster, also said that its business will be restruc- tured under two groups, a development organization and a delivery organization. A company spokeswoman said there are about 1,100 employees in Northeast Ohio and while the company is not talking about details of specific locations, the cuts are not expected in the Akron area. However, 62 employees will be laid off between December and March when the Wooster distribution facility closes. A new facility is being built in Brimfield.

The announcement came as the Atlanta-based company reported third-quarter adjusted results that topped Wall expectations. Newell Rubbermaid also raised its quarterly dividend by 50 percent to 15 cents per share. Newell Rubbermaid said development organization will include segments such as tools, commercial products, writing, baby and parenting, home solutions and specialty. These six segments are down from the previ- Rubbermaid plans layoffs Company to slash more than 1,900 jobs. Savings will be reinvested into growing brands globally KAREN Beacon Journal The Goodyear blimp flies over the new Goodyear headquarters on Innovation Way in Akron on Wednesday.

Associated Press SOURCE: Commerce Dept. Economic growth The U.S. economy grew at a 2 percent annual rate from July through September, up slightly from 1.3 percent in the second quarter. Q1Q2Q3Q1 20112012 Q2Q3Q4 0 1 2 3 4 5 percent July- September Please see Goodyear, D7 Please see Newell, D7 Please see Build, D7 Please see GDP, D7 IT LOCALLY The Beacon Journal is again spotlighting local products, stores and holiday shopping events. To suggest an idea, e-mail Beacon Journal business writer Katie Byard at or call 330-996-3781.

WRAP.