BREAKING NEWS

BREAKING NEWS

Briefly

Rhonda Johnson

Rhonda Johnson

Weber Knapp Names New Pres.

The Weber Knapp Company Board of Directors has announced the appointment of Rhonda M. Johnson to the position of president of the Weber Knapp Company effective Jan. 1.

Johnson will be succeeding Rex E. McCray, who will continue in the role of chief executive officer and chairman of the board.

Weber Knapp has been a Western New York based manufacturer since 1909, currently operating plants in Jamestown, Falconer and Taiwan.

Johnson joined the Weber Knapp team in 1991 and has progressed through various manufacturing supervisory and management positions, most recently as vice president of operations. Since joining Weber Knapp, she has set high expectations for herself and met them by achieving an masters of business administration (2008), actively participating in nonprofit community service and demonstrating a progressive management style reflective of the overall philosophy of the company.

“Rhonda has earned this opportunity and with the support of our management team, I am very confident in her leadership abilities in managing the continued success of Weber Knapp,” McCray said.

Johnson resides in Jamestown with her husband, Jeff. Her son, AJ, and grandson, Jax also live in Jamestown.

SBDC Hosting Records Seminar

The small business owner or the prospective owner must manage the cash flow in order to stay successful in business. The Small Business Development Center at Jamestown Community College is conducting a workshop Jan. 31 from noon to 1:30 p.m. at the Jamestown campus in the Carnahan Center, room 120. Presenter Mark Marchincin is an advisor with the Small Business Development Center. Topics will include compliance with the IRS; state sales tax; types of business organizations; business taxes; self-employment taxes; recordkeeping procedures; and other topics. Participants will receive a package of information for future reference and will have an opportunity to ask questions. Lunch will be provided. There is a $25 registration fee and pre-registration is required.

For more information or to register, call JCC’s Small Business Development Center at 338-1024.

Mortgage Rates Rise To 4 Percent

WASHINGTON — Interest rates on long-term home loans rose this week to the highest level in months.

Mortgage giant Freddie Mac said Thursday that the rate on 30-year, fixed-rate mortgages rose to 4.04 percent this week, highest since May and up from 3.99 percent last week. The rate on 15-year, fixed-rate mortgages, popular with homeowners who are refinancing, rose to 3.49 percent, highest since last March and up from 3.44 percent last week.

“Inflation is firming … This means upward pressure on long-term rates, like the 30-year fixed-rate mortgage, is building,” Len Kiefer, Freddie Mac’s deputy chief economist, says in a statement.

He cites a Federal Reserve report out Wednesday showing that employers in more industries were under pressure to give workers pay raises.

The rate on five-year adjustable-rate mortgages was unchanged this week at 3.46 percent.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates.

The fee on 30-year mortgages rose to 0.6 point from 0.5 point last week. The fee on 15-year mortgages was unchanged 0.5 percent. And the fee on five-year adjustable home loans dipped to 0.3 point from 0.4 point.

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