SATURDAY, FEBRUARY 11, 2012 Business B CALL TODAY! 199 30 YEAR BlackRock is P&G’s largest shareholder One of the world’s largest investment firms recently bought millions more shares of Procter & Gamble stock, making it the largest share- holder. New York-based BlackRock Inc. now owns 141,477,482 shares, or 5.14 percent of P&G, according to a government filing. BlackRock is considered a “passive” investor, not seeking to manage or push for changes at the company. Previously, the largest P&G shareholder was Vanguard, the Pennsylvania-based investment giant. Mazak hires builder for Chicago center Florence-based Mazak Corp. has contracted with Fort Mitchell-based Paul Hemmer Co. for construc- tion of a $6.1 million expan- sion of Mazak’s Chicago technology center. The pro- ject is due for completion by spring. Hemmer has managed more than 20 con- struction projects for Ma- zak, the machine tool manu- facturing firm with eight technology centers across North America. The Chi- cago expansion will add an auditorium, classroom space and expanded demon- stration areas for machine- tool technology. Nominate your Top Workplace The deadline has been extended until Feb. 24 for nominations for this year’s Enquirer Media Top Work- places. Go to www.cincin- nati.com/ topworkplaces or call (513) 206-9789. An organization is eligi- ble if it employs at least 50 and operates in Southwest Ohio, Northern Kentucky or Southeast Indiana. Employ- ees will be asked to rate their opportunities for ad- vancement and how well their workplaces are run. Companies will receive feedback from Workplace Dynamics, our partner in the project. BUSINESS SUMMARY //////////////////////////////// COMING SUNDAY Meet 20 local Women to Watch this year, chosen for business distinction and the impact they’ll make on this community. MORE BUSINESS NEWS » Stay in touch with latest news: We bring you the freshest local, national and international business news by email at 8 a.m. and 2:30 p.m. Monday through Friday. Register at Cincinnati.com/tipsheet. » Celebrate a business an- nouncement? Post recent company announcements and promotions online at Cincinnati .com. Search: share Source: Oil Price Information Service At the furnace: cost of natural gas FRIDAY LAST WEEK YEAR AGO $2.48 $2.49 $4.83 New York Mercantile Exchange spot price per 1 million BTUs. Source: Bloomberg News FIND THE CHEAPEST GAS! Search CinciNavigator at Cincinnati.com. Click on buying and selling to get real time prices where you shop. Cincinnati FRIDAY $3.35 A YEAR AGO $3.08 N. Kentucky FRIDAY $3.49 A YEAR AGO $3.18 AT THE PUMP //////////////////////////////////////////// DOW ● ■ ▼ 12,801.23 Daily: -89.23 Weekly: -61.00 10-YEAR T-BONDS ● ■ ▼ 1.98% Daily: -0.06 Weekly: +0.06 GOLD ● ■ ▼ $1,723.30 Daily: -15.70 Weekly: -14.60 OIL ● ■ ▼ $98.67 Daily: -1.17 Weekly: +00.83 EURO VS. DOLLAR ● ■ ▼ $1.3170 Daily: -0.0120 Weekly: +0.0017 NASDAQ ● ■ ▼ 2,903.88 Daily: -23.35 Weekly: -1.78 S&P 500 ● ■ ▼ 1,324.64 Daily: -9.31 Weekly: -2.26 READING — Meredith Burke, 23, of Blue Ash, made shopping for a wedding dress a splendid affair – part big family outing, part pre-nuptial party. “I had two of my brides- maids, my sister, my cousin, my aunt, my mom and my fu- ture mother-in-law,” she says. “We spent the whole weekend shopping for dresses.” Burke was particularly ex- cited about newly opened Splendid Bridal. The store of- fered her and her group an ex- perience straight out of TV’s “Say Yes to the Dress,” the TLC program that features real brides and their families shopping at Manhattan’s up- scale bridal boutique Klein- feld. “I wanted to feel pampered and for someone to help guide me,” Burke says. “I couldn’t have asked for a better experi- ence.” The owners of Splendid Bridal, Mark and Donna Sny- der and Ed and Wanda Nime, say that Burke’s shopping ex- pectations are typical. Today’s Ed and Wanda Nime, left, and Donna and Mark Snyder own Splendid Bridal in the Reading Bridal District. The store offers brides a luxurious gown shopping experience modeled on the “Say Yes to the Dress” show on television. THE ENQUIRER/LEIGH TAYLOR Wedding-dress hunt becomes an occasion Store re-creates experience from ‘Say Yes’ By Val Prevish Enquirer contributor THE READING BRIDAL DISTRICT Proclaimed the largest bridal district in North America, the roughly half-mile stretch of Benson Avenue be- tween Reading Road and Interstate 75 in- cludes at least 25 bridal businesses from gown boutiques to photog- raphers to wedding cake and catering suppliers. For more information, go to www.reading bridaldistrict.com. See BRIDAL, Page B4 NEW YORK — Stocks had their worst day of the year Friday af- ter Greece hit a roadblock on its way to a critical bailout. The Dow Jones industrial av- erage closed down 89.23 points, or 0.7 percent, at 12,801.23. The broader Standard & Poor’s 500 finished down 9.31 points to 1,342.64. It was the first losing week for S&P this year. Just a day earlier, investors had bought stocks after Greek Prime Minister Lucas Papade- mos and the heads of the three parties backing his government agreed to slash wages, lay off civil service workers and cut government spending. That was seen as a step to- ward Greece’s securing a 130 billion euro international bail- out that it must have to avoid de- faulting on its debt next month and sending a shock through the world financial system. On Friday, European finance ministers insisted Greece agree to deeper cuts in wages and spending. More than 15,000 peo- ple swarmed the streets of Ath- ens, some hurling paving stones at police. Four cabinet minis- ters resigned over the cuts. “The economy in Greece is deteriorating faster than antici- pated, and the austerity mea- sures aren’t particularly popu- lar,” said Mark Luschini, chief investment analyst at Janney Montgomery Scott. “There could be a disorderly default.” The decline in U.S. stocks was broad, with all 10 industry categories in the S&P 500 down. The Nasdaq composite closed down 23.35 points at 2,903.88. Stocks fall on Greece worries Ministers: Debt deal needs deeper cuts By Bernard Condon Associated Press Ohio National Financial Ser- vices on Friday announced rec- ord earnings, sales and capital growth in 2011. It cited a focus on growing distributors and key product lines including variable annuities and individual life in- surance sales. The company, with head- quarters in Montgomery, re- ported core earnings of $205.6 million in 2011, up 5.6 percent from $194.7 million in 2010. To- tal assets under management reached $30.6 billion, up 3.3 per- cent. “Despite the volatile and un- certain economy, Ohio National experienced a strong year in 2011,” Gary “Doc” Huffman, Ohio National’s chief executive officer, said in a statement. “The volatile equity markets and protracted low interest rate environment created signifi- cant challenges for our entire industry.” Huffman, who has been CEO just more than a year, has con- tinued the approach embraced by his predecessor, David O’Maley, who grew Ohio Na- tional from $4.1 billion in assets in 1993 to $24.9 billion at the end of 2010. In an April 2011 interview with The Enquir- er, Huffman said he was confident the company could boost mar- ket share in its life insurance and variable an- nuities business, because the financial crisis was forcing some rivals to retrench. The company delivered. Highlights include: » A record-breaking $118.8 million of new annual premium for individual life insurance, up 4.7 percent from 2010. »» Variable annuity sales in- creased 8.5 percent to $1.6 bil- lion. » Equity capital including FAS115 grew17.3 percent to $2.1 billion; equity capital excluding FAS 115 – a measure of equity capital that excludes the value of bonds – grew 15.6 percent to $1.9 billion. Equity capital is an important measure of policy holder protection. » For the 88th straight year, Ohio National paid dividends to all participating whole life pol- icies. A total of $40.7 million was paid out to participating policy holders. Ohio National markets insur- ance and financial products in 47 states, the District of Colum- bia, Puerto Rico and subsidiary operations in Santiago, Chile. The mutual holding company is owned by policy holders. Ohio National prospering Record year for its financial services The Enquirer Huffman If you’re a typical consumer, you’ve probably never heard of Pro Mach Inc. in Miami Town- ship. But there’s a good chance your refrigerator or cupboard has food, beverages or house- hold products in boxes or pack- ages made with one of the com- pany’s packaging machines. Pro Mach, ranked 34th on the 2010 Deloitte Cincinnati USA 100 list of largest private companies, is one of North America’s largest suppliers of packaging machin- ery. It provides primary pack- aging machines, end of line pal- letizing and shrink wrap ma- chines, and tracking and identi- fication equipment for some of the largest consumer goods companies in the world. The company had revenues last year of $289 million and em- ploys just over 1,000 in North America, including about 10 at its corporate office. Pro Mach putting more into its package Company has been active in acquisitions By Mike Boyer [email protected] Mark Anderson, CEO of Pro Mach Inc., said he expects business to double over the next four or five years. THE ENQUIRER/AMANDA DAVIDSON See PRO MACH, Page B4
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SATURDAY, FEBRUARY 11, 2012
Business B
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* Additional restrictions may apply. Recording fees not included. Credit Score and LTV may cause additional fees.** APR for a 30- year fixed rate conventional loan of $150,000, 75% LTV, with monthly Principal and Interest payments of $705.36. APR for a 15- year fixed rated conventional loan of $150,000, 80% LTV, with monthly Principal and Interest payments of $1072.32Rates are subject to change. Payments do not include amounts for taxes and insurance premiums; however, if included, the actual payment obligation will be greater.
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BlackRock is P&G’slargest shareholder
One of the world’s largestinvestment firms recentlybought millions more sharesof Procter & Gamble stock,making it the largest share-holder. New York-basedBlackRock Inc. now owns141,477,482 shares, or 5.14percent of P&G, accordingto a government filing.
BlackRock is considereda “passive” investor, notseeking to manage or pushfor changes at the company.Previously, the largest P&Gshareholder was Vanguard,the Pennsylvania-basedinvestment giant.
Mazak hires builderfor Chicago center
Florence-based MazakCorp. has contracted withFort Mitchell-based PaulHemmer Co. for construc-tion of a $6.1 million expan-sion of Mazak’s Chicagotechnology center. The pro-ject is due for completionby spring. Hemmer hasmanaged more than 20 con-struction projects for Ma-zak, the machine tool manu-facturing firm with eighttechnology centers acrossNorth America. The Chi-cago expansion will add anauditorium, classroomspace and expanded demon-stration areas for machine-tool technology.
Nominate yourTop Workplace
The deadline has beenextended until Feb. 24 fornominations for this year’sEnquirer Media Top Work-places. Go to www.cincin-nati.com/ topworkplacesor call (513) 206-9789.
An organization is eligi-ble if it employs at least 50and operates in SouthwestOhio, Northern Kentucky orSoutheast Indiana. Employ-ees will be asked to ratetheir opportunities for ad-vancement and how welltheir workplaces are run.
Companies will receivefeedback from WorkplaceDynamics, our partner inthe project.
BUSINESSSUMMARY/ / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /
COMING SUNDAYMeet 20 local Women to Watch this year, chosen for business distinction
and the impact they’ll make on this community.
MOREBUSINESS NEWS» Stay in touch withlatest news: Webring you the freshestlocal, national andinternational business news byemail at 8 a.m. and 2:30 p.m.Monday through Friday. Registerat Cincinnati.com/tipsheet.» Celebrate a business an-nouncement? Post recentcompany announcements andpromotions online at Cincinnati.com. Search: share
Source: Oil Price Information Service
At the furnace:cost of natural gas
FRIDAY LAST WEEK YEAR AGO
$2.48 $2.49 $4.83New York Mercantile Exchange spot priceper 1 million BTUs. Source: Bloomberg News
FIND THE CHEAPEST GAS!Search CinciNavigator atCincinnati.com. Click on buyingand selling to get real time priceswhere you shop.
CincinnatiFRIDAY
$3.35A YEAR AGO
$3.08
N. KentuckyFRIDAY
$3.49A YEAR AGO
$3.18
AT THEPUMP/ / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / / /
DOW
●■▼
12,801.23Daily: -89.23
Weekly: -61.00
10-YEAR T-BONDS
●■▼
1.98%Daily: -0.06
Weekly: +0.06
GOLD
●■▼
$1,723.30Daily: -15.70
Weekly: -14.60
OIL
●■▼
$98.67Daily: -1.17
Weekly: +00.83
EURO VS. DOLLAR
●■▼
$1.3170Daily: -0.0120
Weekly: +0.0017
NASDAQ
●■▼
2,903.88Daily: -23.35
Weekly: -1.78
S&P 500
●■▼
1,324.64Daily: -9.31
Weekly: -2.26
READING — MeredithBurke, 23, of Blue Ash, madeshopping for a wedding dressa splendid affair – part bigfamily outing, part pre-nuptialparty.
“I had two of my brides-maids, my sister, my cousin,my aunt, my mom and my fu-ture mother-in-law,” she says.“We spent the whole weekendshopping for dresses.”
Burke was particularly ex-cited about newly openedSplendid Bridal. The store of-fered her and her group an ex-
perience straight out of TV’s“Say Yes to the Dress,” theTLC program that featuresreal brides and their familiesshopping at Manhattan’s up-scale bridal boutique Klein-feld.
“I wanted to feel pamperedand for someone to help guideme,” Burke says. “I couldn’thave asked for a better experi-ence.”
The owners of SplendidBridal, Mark and Donna Sny-der and Ed and Wanda Nime,say that Burke’s shopping ex-pectations are typical. Today’s
Ed and Wanda Nime, left, and Donna and Mark Snyder own Splendid Bridal in the Reading BridalDistrict. The store offers brides a luxurious gown shopping experience modeled on the “Say Yes tothe Dress” show on television. THE ENQUIRER/LEIGH TAYLOR
Wedding-dress huntbecomes an occasionStore re-creates experience from ‘Say Yes’By Val PrevishEnquirer contributor
THE READINGBRIDALDISTRICT
Proclaimed the largestbridal district in NorthAmerica, the roughlyhalf-mile stretch ofBenson Avenue be-tween Reading Roadand Interstate 75 in-cludes at least 25 bridalbusinesses from gownboutiques to photog-raphers to wedding cakeand catering suppliers.For more information,go to www.readingbridaldistrict.com.
See BRIDAL, Page B4
NEW YORK — Stocks had theirworst day of the year Friday af-ter Greece hit a roadblock on itsway to a critical bailout.
The Dow Jones industrial av-erage closed down 89.23 points,or 0.7 percent, at 12,801.23. Thebroader Standard & Poor’s 500finished down 9.31 points to1,342.64. It was the first losingweek for S&P this year.
Just a day earlier, investorshad bought stocks after GreekPrime Minister Lucas Papade-mos and the heads of the threeparties backing his governmentagreed to slash wages, lay offcivil service workers and cutgovernment spending.
That was seen as a step to-ward Greece’s securing a 130billion euro international bail-out that it must have to avoid de-faulting on its debt next monthand sending a shock through theworld financial system.
On Friday, European financeministers insisted Greece agreeto deeper cuts in wages andspending. More than15,000 peo-ple swarmed the streets of Ath-ens, some hurling paving stonesat police. Four cabinet minis-ters resigned over the cuts.
“The economy in Greece isdeteriorating faster than antici-pated, and the austerity mea-sures aren’t particularly popu-lar,” said Mark Luschini, chiefinvestment analyst at JanneyMontgomery Scott. “Therecould be a disorderly default.”
The decline in U.S. stockswas broad, with all 10 industrycategories in the S&P 500 down.The Nasdaq composite closeddown 23.35 points at 2,903.88.
Stocksfall onGreeceworriesMinisters: Debt dealneeds deeper cutsBy Bernard CondonAssociated Press
Ohio National Financial Ser-vices on Friday announced rec-ord earnings, sales and capitalgrowth in 2011. It cited a focuson growing distributors and keyproduct lines including variableannuities and individual life in-surance sales.
The company, with head-quarters in Montgomery, re-ported core earnings of $205.6million in 2011, up 5.6 percentfrom $194.7 million in 2010. To-tal assets under managementreached $30.6 billion, up 3.3 per-
cent.“Despite the volatile and un-
certain economy, Ohio Nationalexperienced a strong year in2011,” Gary “Doc” Huffman,Ohio National’s chief executiveofficer, said in a statement.“The volatile equity marketsand protracted low interest rateenvironment created signifi-cant challenges for our entireindustry.”
Huffman, who has been CEOjust more than a year, has con-tinued the approach embracedby his predecessor, DavidO’Maley, who grew Ohio Na-tional from $4.1 billion in assetsin1993 to $24.9 billion at the endof 2010.
In an April 2011 interview
with The Enquir-er, Huffman saidhe was confidentthe companycould boost mar-ket share in itslife insuranceand variable an-nuities business,
because the financial crisis wasforcing some rivals to retrench.
The company delivered.Highlights include:
» A record-breaking $118.8million of new annual premiumfor individual life insurance, up4.7 percent from 2010.
» » Variable annuity sales in-creased 8.5 percent to $1.6 bil-lion.
» Equity capital including
FAS115grew17.3percent to$2.1billion; equity capital excludingFAS 115 – a measure of equitycapital that excludes the valueof bonds – grew 15.6 percent to$1.9 billion. Equity capital is animportant measure of policyholder protection.
» For the 88th straight year,Ohio National paid dividends toall participating whole life pol-icies. A total of $40.7 million waspaid out to participating policyholders.
Ohio National markets insur-ance and financial products in47 states, the District of Colum-bia, Puerto Rico and subsidiaryoperations in Santiago, Chile.The mutual holding company isowned by policy holders.
Ohio National prosperingRecord year for itsfinancial servicesThe Enquirer
Huffman
If you’re a typical consumer,you’ve probably never heard ofPro Mach Inc. in Miami Town-ship.
But there’s a good chanceyour refrigerator or cupboardhas food, beverages or house-hold products in boxes or pack-ages made with one of the com-pany’spackagingmachines.ProMach, ranked 34th on the 2010
Deloitte Cincinnati USA 100 listof largest private companies, isone of North America’s largestsuppliers of packaging machin-ery. It provides primary pack-aging machines, end of line pal-letizing and shrink wrap ma-chines, and tracking and identi-fication equipment for some ofthe largest consumer goodscompanies in the world.
The company had revenueslast year of $289 million and em-ploys just over 1,000 in NorthAmerica, including about 10 atits corporate office.
Pro Mach putting more into its packageCompany has beenactive in acquisitionsBy Mike [email protected]
Mark Anderson, CEO of Pro Mach Inc., said he expects business todouble over the next four or five years. THE ENQUIRER/AMANDA DAVIDSONSee PRO MACH, Page B4
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