Business Briefs: 06/12/14


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Dick’s shareholders select three to new board terms

Dick’s Sporting Goods shareholders Wednesday voted to return three directors to the Findlay retailer’s board, giving new three-year terms to Jacqualyn A. Fouse, CFO of Celgene Corp.; Lawrence J. Schorr, CEO of Simona America Group; and Edward W. Stack, chairman and CEO of Dick’s.

At the annual meeting held at the Hyatt Regency at Pittsburgh International Airport, stockholders also backed Dick’s executive compensation plan and the use of Deloitte & Touche as its accounting firm.

Mr. Stack controls more than 60 percent of the combined voting power of Dick’s common and Class B stock.

Property Tax/​Rent Rebate deadline extended

The deadline for older adults and residents with disabilities to apply for Pennsylvania’s Property Tax/​Rent Rebate Program has been extended from June 30 to Dec. 31. The income limit is $35,000 a year for homeowners and $15,000 annually for renters. Half of Social Security income is excluded. The maximum standard rebate is $650, but supplemental rebates for qualifying homeowners can boost rebates to $975. Applicants may obtain rebate claim forms (PA-1000) online at www.revenue.state.pa.us or by calling, toll-free, 1-888-222-9190.

Airbus loses major order with Emirates

Airbus said Emirates canceled its entire order for A350 aircraft valued at $16 billion on Wednesday, hurting its efforts to break Boeing’s dominance for wide-body aircraft that are the backbone of Emirates’ fleet.

Toyota expands recall for air bag glitch

Toyota Motor Corp. is recalling nearly 650,000 vehicles in Japan and repeating a recall for problems with front passenger air bag inflators announced last year, seeking to fix some 2.27 million vehicles. It said the initial recall was based on incomplete serial numbers from the part supplier, Japan’s Takata Corp.

Vitaminwater fans upset

Fans of Vitaminwater are demanding that parent company Coca-Cola drop a new formula that uses stevia, a low-calorie sweetener known for its metallic aftertaste. Coca-Cola Co. changed the formula for its full-calorie Vitaminwater in May.


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