ODW Logistics gets operating authority

ODW Logistics has obtained operating authority in California for its trucking subsidiary. the Dist-Trans Co., the company announced.

The development means that Dist-Trans drivers will be able to haul freight for West Coast customers, the company announced.

ODW Logistics has facilities in San Bernardino and Chino. The firm’s corporate headquarters is in Columbus, Ohio.

Gasoline consumption fell in October

Californians continued to consume less fuel in October, as gasoline consumption dropped 1.8 percent when compared to the same month in October 2010.

The California Board of Equalization reported that drivers consumed 1.23 billion gallons of gasoline in October.

Consumption fell as pump prices increased. One gallon of regular gasoline cost an average of $3.89 in October. That price signifies a 74 cent year-over-year increase.

Diesel consumption, however, rose in October. Diesel users purchased 226 million gallons of fuel in October. The amount signifies a year-over-year consumption increase of 4.8 percent.
A gallon of diesel fuel cost an average of $4.06 per gallon in October. That amount is 85 cents higher than the average price one year prior.

The Board of Equalization tracks consumption by analyzing gasoline tax receipts.

New meeting location for construction group’s meeting

The Inland Empire chapter of National Association of Women in Construction has a new location for its February meeting.

The meeting’s featured speaker Christopher M. Myers of C.W. Driver Builders, is scheduled to discuss the U.S. Small Business Administration’s mentorship program. The mentorship program allows minority-owned small businesses and other firms meeting certain criteria to partner with larger companies when bidding for federal contracts.

The meeting is now scheduled to begin at 5:30 p.m. Feb. 9 at Hilton Garden Inn, 11481 Mission Vista Drive, Rancho Cucamonga.

Admission will cost $25.

Information and reservations: 909-982-7911 or call Deloris Whelchel at 909-987-5575. E-mail reservations may be sent to nawic140@msn.com.

Community Bank reports $25.2 million profit

Community Bank, a business bank with 15 branches in San Bernardino, Los Angeles, Riverside and Orange counties, reported a $25.2 million profit for the year ending Dec. 31.

The bank’s profit compares with a $20.7 million profit earned in 2010.

The bank also reported a decrease in its reserve for loan losses. At the end of last year, the bank reported a $37.5 million, or 2.12 percent, of its total loans as being reserved for potential losses. That number is down from $39.7 million, or 2.25 percent of outstanding loans, at the end of 2010.

Community Bank has $2.6 billion in reported assets. The bank’s branches include locations in Ontario, Fontana and Redlands. Community Bank’s main office is in Pasadena.

Credit bureau: Americans’ delinquency rates improved in 2011

U.S. debtors delinquency rates improved significantly, credit bureau Equifax reported. Among the most significant statistics, 60-day deliquescence on credit card bills fell by 29 percent.

The reduction in late payments has in turn led to increased credit, according to Equifax. Credit card originations for consumers with subprime credit scores (below 660 points) increased 48 percent from January through October.

Among other types of debt, 60-day delinquencies among auto loans financed by dealers decreased by 19 percent. Auto loans financed by banks fell 23 percent in 2011.

Mortgage payments delinquent by 30 days declined by 13 percent last year, according to Equifax.

California Attorney General announces Brazilian Blowout settlement

Attorney General Kamala Harris announced a settlement with the manufacturer of Brazilian Blowout hair products that will require disclosures to consumers and stylists that the hair smoothing products emit formaldehyde gas.

The manufacturer, GIB, LLC must stop describing its products as formaldehyde free and safe. The firm, which does business under the name Brazilian Blowout, must also pay $600,000 in fees, penalties and costs.

Harris’ office also reported the settlement is the first law enforcement action made under the 2005 California Safe Cosmetics Act. The settlement came as the result of a lawsuit her office filed in November 2010.

Women’s construction group to talk mentoring

The Inland Valley chapter of National Association of Women in Construction plan to welcome project manager Christopher M. Myers as the featured speaker at the group’s February meeting.
Myers is a project manager for C.W. Driver Builders, which is based in Ontario.

The U.S. Small Business Association’s Mentor-Protg Program is scheduled as the meeting’s featured topic. The program is designed to help small companies bid for federal contracts by allowing those companies to partner with larger firms.

The Mentor-Protg Program is open to minority business owners and others who meet the government’s criteria for being a “socially and economically disadvantaged individual”.

Admission will cost $25. RSVPs are requested by Feb. 7.

Information: 909-982-7911 or call Deloris Whelchel at 909-987-5575. Email reservations may be sent to nawic140@msn.com.

San Bernardino mall is “Sweet on Soldiers”

Inland Center, along with Touch of Home-Support 4R Military Inc., is collecting supplies and Valentine’s Day cards for servicemen and women overseas.

After they are collected, Valentines and much-needed supplies will be packaged and shipped by Touch of Home to soldiers overseas for Valentine’s Day.

Goodies will be collected through Feb. 5 at the mall, 500 Inland Center Drive.
“We’re Sweet on Soldiers” has helped thousands of soldiers know that we have not forgotten them and appreciate everything they do.

Requested supplies include white tube socks, foot powder, packages of batteries, toothbrushes and toothpaste, deodorant, nonperishable food, single-serve drink mixes and snack bars.

Information, visit www.inlandcenter.com.

University of Redlands to offer joint engineering program with Columbia University

University of Redlands announced a new engineering program that will enable students to earn a bachelor’s degree at Redlands while also obtaining a bachelor’s of science degree in engineering from Columbia University.

The program will require students to spend the first three years of undergraduate study at University of Redlands. Students would be able to apply to Columbia University’s School of Engineering and Applied Science during their junior year.

Students who are accepted at Columbia would then spend two additional years studying engineering at that school’s campus in New York City.

Information: http://www.redlands.edu/engineering3-2.

Altura credit union reports $8.43 million profit

Altura Credit Union, which is based in Riverside, reported an $8.43 million profit for 2011.

The amount signifies an improvement over the credit union’s $5.8 million loss in 2010.

“After the economic turmoil of the past few years, 2011 was our best year since 2006,” Altura Credit Union CEO Mark Hawkins said in a statement. “Although we continued to deal with a difficult economy, 2011 was the year in which we finally saw the marketplace begin to firm up. Unemployment is settling down and foreclosures and delinquencies have eased substantially.”

Altura Credit Union ended 2011 with a 7.84 percent net worth ratio, well above the 5.81 percent ratio at the end of 2010. The National Credit Union Administration considers an institution with a ratio of at least 7 percent to be well capitalized.