There's a changing of the guard at one of the most successful football programs in NCAA history.
Larry Kehres is stepping down as head Coach of the University of Mount Union, effective immediately. His Son, Vince, will take over the program.
Kehres has won multiple NCAA Division III Championships with the Purple Raiders, and coached in many more title games. Larry will remain on as the school's Athletic Director.
(press release)ALLIANCE, Ohio – University of Mount Union's Larry Kehres has decided to step down as head football coach, but remain the director of athletics, while Vince Kehres has been named head football coach effective immediately.
Larry Kehres, in his 39th year working at his alma mater, began working as an assistant football coach and professor in 1974. He was Mount Union's first head swimming coach, was named athletic director in 1985 then assumed head football coaching duties in 1986.
"The best part of the job was developing relationships with players and continuing those relationships following their graduations," commented Kehres. "Coaching the Purple Raiders has been a tremendous experience for my family. We have shared many great experiences with our players, fellow coaches, trainers and their families. We plan to continue to enjoy working with Mount Union coaches and athletes."
In 27 seasons, his teams won 23 Ohio Athletic Conference Championships (1986, 1990, 1992-2012) while posting 21 undefeated regular seasons (1986, 1990, 1992, 1993, 1995-2004, 2006-2012) and claiming 11 NCAA Division III National Championships (1993, 1996, 1997, 1998, 2000, 2001, 2002, 2005, 2006, 2008, 2012).
A 1971 Mount Union graduate, Kehres has a career coaching record of 332-24-3 (.924) which makes him one of the winningest coaches in the history of college football.
As director of athletics, he has overseen and aided in the expansion of varsity sports -- currently at 23, increased the athletics staff and has led an aggressive plan to enhance and create some of NCAA Division III top facilities highlighted by the $17-million expansion and renovation of the Timken Physical Education Building and Peterson Field House.
In fact, just this past season Mount Union swept both Ohio Athletic Conference Men's and Women's All-Sports Trophies and is the highest ranked NCAA Division III institution in Ohio in the Learfield Directors Cup Standings recognizing excellence in college athletics.
"My plan is to continue to assist coaches and student-athletes to experience success at Mount Union," stated Kehres.
A gunman held up a check-cashing business Monday afternoon.
Police Lieutenant Rick Edwards says it happened at the First America Cash Advance on South Arlington around 3:30PM.
The gunman went up to the teller, held up a handgun, and asked for the money. He left with an undisclosed amount of cash.
The suspect was wearing a woman's black wig, and was carrying a white bag, along with other dark clothing.
Anyone with information is asked to contact Akron Police.
The possibility of two different Timken companies was intriguing enough for shareholders to narrowly recommend the move on Tuesday.
According to The Repository, 53% of shareholders think it will be beneficial for the company to spin off its steel division, with the other company focusing on it's bearings operations.
Those in favor say it will increase stock price, but the executives are skeptical.
Company Chairman "Tim" Timken says they will take the recommendation under advisement, and could release their recommendation in the next 30 to 45 days.
Executives say one company is vital to research and development. It comes as the company continues expansion at its Faircrest plant in Plain Township.
The case involving Vietnam Veteran Larry Modic and his issues with the city of Akron raised a lot of questions that had no real answers. The story brought out supporters of both the city and Modic, who had his home demolished by the city of Akron.
Modic purchased the home on Manchester Road without prior knowledge of a pending demolition order from the city. The veteran planned to buy and renovate the property.
Which raises an important question: How do prospective homeowners, who are eyeing a new purchase in Akron, know if the property is being targeted for demolition?
AkronNewsNow requested a list of all the homes slated for demolition in the city for 2013.
The list, in a searchable database presented with this story, is current as of April 8th. The dates next to the homes indicate the day they were demolished, with about 350 homes altogether having their numbers up. It is searchable by street name, or by the date demolished.
While the information is presented in a sortable, user-friendly way here, that's not the case when searching government websites, or visiting with government officials.
To find the answers, it starts with finding the correct agency or city department that has the list of homes that are set for demolition.
AkronNewsNow started with a stop at the Summit County Engineering Department, since they're the ones that perform the demolitions. The first of many referrals came from here.
The quest continued by phone and e-mail from there. with Sanitarian Wayne Gregory giving a sarcastic "good luck" when handing off to the city of Akron Planning Department.
In their office, Beth Diefendorf tossed it back into the county's hands, after several unanswered calls and e-mails. AkronNewsNow decided at this point to ascended the chain of command, and knock on some higher digital doors.
The journey wasn't quite over yet. Jill Skapin, Communications Director for county Executive Russ Pry, was the next to be contacted about the situation. A response by phone message left in the newsroom said the county does not handle city demolition permits, condemnations, etc. At that point was when the trail had come full circle, going through both entities and none claiming responsibility.
The last-ditch effort for the list comes from one of the most valuable tools in the news arsenal--the Freedom of Information Act Request, or FOIA.
John York was assigned to the case, and delivered the results in spreadsheet form, several days later, without incident.
The issue brought about lawsuits, threats, and talks of new laws in the city of Akron. With hundreds more homes to meet the same fate this year, and in the future, this experience emphasizes the difficulty that homeowners run into when going after some crucial info on their potential property.
The situation also highlights the need for the city to be more responsive in making the info easier to obtain for anyone who requests it. There are a lot of hoops to jump through, and there's a lot of confusion between the county and city, so greater cooperation between the two will also need to improve.
Maybe with the information out in the open for this year, a repeat of the Modic situation can be prevented.
Summit County sheriff's deputies have run across five meth labs since Friday, and arrested five people connected to three of them.
Two of the labs were found at houses in Barberton on Harding Street and East State Street, and two more were found in New Franklin at Route 619 and Eastern Road, and on West Turkeyfoot Lake Road. Another was found by sheriff's deputies in a car at the Avon Trailer Park in Green.
Two of the labs were discovered by two different landlords. And Summit County Sheriff's Inspector Bill Holland says landlords are actually on the front lines in the fight against meth.
"They notice when they go to the rental house and they see the components or they smell something strange," Holland tells AkronNewsNow.com. "Or they see a dumpsite in a ditch, they know to call law enforcement and we come and take away those dangerous chemicals before they get into the wrong hands."
Holland says they're helping to educate business and property owners to spot trouble.
It was a good start to he year for Goodyear Tire. The Akron-based company reported higher first-quarter earnings over the same time frame in 2012. The biggest jump came here in North America, where Goodyear's earnings went up 59% compared to last year. They still expect revenues for the year to be up about 12% over 2012.
Goodyear Chairman and CEO Rich Kramer discussed the first quarter financials in a conference call with investors and reporters:
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(Goodyear) The Goodyear Tire & Rubber Company today reported higher earnings for the first quarter of 2013 compared to the year-ago quarter.
“Despite a tough economic environment, we continue to achieve solid earnings improvement,” said Richard J. Kramer, chairman and chief executive officer. “Our first quarter earnings demonstrate that our strategic focus on improving productivity and selling innovative products in targeted market segments where our brands add value is working, especially in North America, where our business continues to outperform expectations.”
Three of Goodyear’s four regional businesses posted higher earnings with North America and Asia Pacific posting record first quarter operating income. Asia Pacific and Latin America achieved both increased tire unit volume and higher operating income.
“In Europe, we are taking steps to address weak industry demand brought about by recessionary conditions that continue to impact the auto and tire industries. We are executing a three-point plan to address profitability in this region,” Kramer added.
“We remain confident in our full-year outlook and continue to expect global segment operating income of $1.4 billion to $1.5 billion in 2013, which would be up more than 12 percent from 2012 and a record,” he said. The company continues to target positive cash flow in 2013, excluding pension pre-funding.
Goodyear’s first quarter 2013 sales were $4.9 billion, compared to $5.5 billion a year ago. First quarter 2013 sales reflect $364 million in lower tire unit volumes; $178 million in lower sales in other tire related businesses, most notably third party chemical sales in North America, and $115 million in unfavorable foreign currency translation. Tire unit volumes totaled 39.5 million, down 8 percent from 2012, primarily reflecting lower volumes in Europe.
The company reported segment operating income of $302 million in the first quarter of 2013. This was up 3 percent from the year-ago quarter, reflecting $230 million in lower raw material costs (before the benefit of cost savings actions) and cost-reduction activities that exceeded inflation, partially offset by $138 million in lower tire volume and associated unabsorbed overhead costs, lower price/mix of $71 million and $17 million in unfavorable foreign currency translation. See the note at the end of this release for further explanation and a segment operating income reconciliation table.
Goodyear’s first quarter 2013 net income available to common shareholders was $26 million (10 cents per share), compared to a net loss of $11 million (5 cents per share) in the 2012 quarter. All per share amounts are diluted.
The 2013 first quarter included a $92 million (37 cents per share) net foreign currency remeasurement loss resulting from the devaluation of the Venezuelan bolivar fuerte; $9 million (4 cents per share) in rationalizations, asset write-offs and accelerated depreciation; a loss of $2 million (1 cent per share) from asset sales; and net gains of $12 million (5 cents per share) due primarily to tax law changes and $6 million (2 cents per share) from insurance recoveries related to the impact of the 2011 Thailand flood. All amounts are after taxes and minority interest.
The company’s free cash flow from operations was a use of $276 million for the first quarter of 2013. See the note at the end of this release for further explanation and a free cash flow from operations reconciliation table.
First Quarter Business Segment Results
North American Tire First Quarter
(in millions) 2013 2012
Tire Units 14.8 15.8
Sales $2,166 $2,497
Segment Operating Income $127 $80
Segment Operating Margin 5.9% 3.2%
North America’s first quarter 2013 sales decreased 13 percent from last year to $2.2 billion. Sales reflect a 6 percent decrease in tire unit volume and lower price/mix. Original equipment unit volume was flat. Replacement tire shipments were down 9 percent, reflecting weak industry demand and decreased sales of lower-value consumer tires.
First quarter 2013 segment operating income of $127 million was a 59 percent improvement over the prior year and a first quarter record. Segment operating income was positively impacted by $163 million in lower raw material costs. This was partially offset by $58 million resulting from decreased volume and unabsorbed overhead from related production cuts, $47 million in lower price/mix and $18 million primarily due to lower third party chemical sales.
Europe, Middle East and Africa Tire First Quarter
(in millions) 2013 2012
Tire Units 15.1 18.0
Sales $1,607 $1,938
Segment Operating Income $31 $90
Segment Operating Margin 1.9% 4.6%
Europe, Middle East and Africa’s first quarter sales decreased 17 percent from last year to $1.6 billion. Sales reflect a 16 percent decrease in tire unit volume, primarily due to economic weakness in the region, as well as unfavorable foreign currency translation of $38 million. Original equipment unit volume was down 12 percent. Replacement tire shipments were down 18 percent.
First quarter 2013 segment operating income of $31 million was $59 million below the prior year. Lower raw material costs of $89 million were offset by the $83 million impact of reduced volume and unabsorbed overhead from related production cuts and $62 million in lower price/mix.
Latin American Tire First Quarter
(in millions) 2013 2012
Tire Units 4.5 4.3
Sales $513 $521
Segment Operating Income $60 $55
Segment Operating Margin 11.7% 10.6%
Latin America’s first quarter sales decreased $8 million from last year to $513 million. Sales were negatively impacted by $62 million in unfavorable foreign currency translation and $33 million related to the sale of the bias truck tire business. These were partially offset by a 5 percent increase in tire unit volume and improved price/mix. Original equipment unit volume decreased 5 percent. Replacement tire shipments were up 11 percent.
First quarter segment operating income of $60 million was up 9 percent from a year ago. Price/mix improvements of $45 million benefited segment operating income and lower raw material costs added $4 million. Segment operating income was negatively impacted by higher conversion costs of $33 million, primarily due to cost inflation, and $11 million in unfavorable currency translation.
The devaluation of the Venezuelan bolivar fuerte against the U.S. dollar in February 2013 and weak economic conditions in that country negatively impacted segment operating income by approximately $16 million in the first quarter of 2013.
Asia Pacific Tire First Quarter
(in millions) 2013 2012
Tire Units 5.1 4.9
Sales $567 $577
Segment Operating Income $84 $67
Segment Operating Margin 14.8% 11.6%
Asia Pacific’s first quarter sales decreased $10 million from last year to $567 million. Sales were negatively impacted by $15 million in lower sales in other tire-related businesses and $14 million in unfavorable foreign currency translation. Original equipment unit volume was up 5 percent. Replacement tire shipments were up 4 percent.
First quarter segment operating income of $84 million was up 25 percent from last year and a first quarter record. Segment operating income was positively impacted by $31 million in lower raw material costs. It was negatively impacted by $7 million in lower price/mix, $3 million in unfavorable foreign currency translation and the impact of inflation on wages and other costs.
Compared with the year-ago quarter, segment operating income improved by $4 million due to insurance recoveries for costs resulting from flood disruption in Thailand.
Goodyear is now forecasting its 2013 tire unit volumes to be essentially at 2012 levels as a result of weak industry conditions, especially in Europe.
For the full year of 2013 in North America, Goodyear now expects consumer replacement to be at essentially 2012 levels. The company’s full year 2013 outlook in other North American market segments is unchanged. It expects consumer original equipment volumes to be up approximately 5 percent, while commercial replacement and original equipment are both expected to remain at about 2012 levels.
For the full year in Europe, Middle East and Africa, Goodyear now expects consumer replacement to be at essentially 2012 levels. The company’s full year 2013 outlook in other Europe, Middle East and Africa market segments is unchanged. It expects consumer original equipment volumes to be down approximately 5 percent, commercial replacement to be up approximately 5 percent and commercial original equipment to be flat to up 5 percent.
Due to continued weakness in the European economy and to ensure the company’s long-term competitiveness in the region, Goodyear is implementing a three-point plan to return its business to historical margin levels. In addition to its announced exit from the farm tire business in the Europe, Middle East and Africa region and closure of a manufacturing plant in France, over the next three years Goodyear is focusing on 1) increasing its share in targeted market segments, 2) growth in emerging markets and 3) additional productivity improvements across the region totaling $75 million to $100 million.
2013 Financing Action
During the first quarter, Goodyear successfully issued $900 million in 6.5% senior notes due 2021. The net proceeds were used to fully fund the company’s frozen U.S. pension plans. Following this, the company changed its target asset allocation for these plans to a portfolio of fixed income securities designed to offset the future impact of discount rate movements on the plans’ funded status.
There's a reward out for info on the suspect, or suspects, who killed four people in Akron last week.
According to NewsChannel 5, Summit County Crimestoppers are offering up to $2,000 for any information that leads to the arrest of those involved.
The four victims, two men and two women, all in their late teens or early 20s, were found shot in the head, execution-style, last Thursday in the basement of a duplex on Kimlyn Circle, near Chapel Hill Mall.
All of the deaths have been ruled homicides, and no suspects or leads have turned up so far.
On the Web: WEWS NewsChannel 5, www.newsnet5.com
UPDATE: The all-clear at Innes CLC was given just before 12:30pm Wednesday.
District spokesman Mark Willamson says a search of the school by police dogs turned up nothing suspicious and classes resumed. He says there will be beefed up security at Innes over the next couple of days.
(Previous coverage) Innes CLC is on lockdown after a specific threat was uncovered.
APS Spokesman Mark Williamson says the threat was posted on the wall of a girl's bathroom just before Noon Wednesday, prompting the lockdown procedure.
Williamson did not specify the details of the threat.
Classes will resume once the lockdown has been lifted, but Williamson says they take each threat seriously.
The Timken Company, based in Canton, delivered some bad news to investors on Wednesday, even though officials were expecting the results from their 1st-quarter 2013 earnings report to level off.
Compared to last year's 1st quarter, Timken's sales fell about 23-percent, and earnings dropped 51-percent. CEO Jim Griffith told investors the decrease in demand for oil and gas drilling and industrial products led to the lower results.
The company's steel sector alone saw sales fall 35-percent.
The drop was across all three of their markets, with North America the steepest decline of 25-percent in sales.
As a results, Griffith and his financial team projected sales for the remainder of the year to fall about 5-percent. All four of their operating sectors are expected to maintain double-digit operating margins for 2013.
The local job market is starting to bloom, according to the latest figures from the state.
The city and county unemployment rates, released on Tuesday by the state's Job and Family Services, says Summit County's rates was an even 7% for the month of March. That's down from February's figure of 7.3.
The number actually bests the statewide average, which was set at 7.1-percent for the month, but officials point out the state's figures are seasonally adjusted.
For the month of March, Summit County's rate stood at 7.5 in 2012.
JFS also tracks the rates for Akron and Cuyahoga Falls, with the county seat at an even 7-percent, down three-tenths of a point from February.
In Cuyahoga Falls, the rate fell from 6.9-percent to 6.5.
You can check all of the city and county rates across Ohio by accessing the document attached to this page.
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