New Castle News

New Castle

August 24, 2012

Board approves settlement with JP Morgan Chase

NEW CASTLE — The New Castle Area School Board at a special meeting this week approved a settlement with JP Morgan Chase.

The agreement is part of a class-action investment lawsuit. As a result of the settlement, the district will receive $85,000 for its general fund, according to district business manager Joe Ambrosini.

The district had a municipal bond derivative with JP Morgan Chase that was impacted by the banking firm’s relevant conduct of engaging in anticompetitive conduct and/or unfair trade practices relating to municipal bond derivatives between Jan. 1, 1998, through Dec. 31, 2006, Ambrosini said. JP Morgan Chase was cited in 25 different states.

The district Tuesday approved the settlement agreement as a named party with JP Morgan Chase. The $85,000 is a prorated amount based on the amount of investment of its bond issues, Ambrosini said.

The board, following a five-minute executive session for personnel reasons before its meeting, also voted to accept the resignation of S. Benjamin Easler of Butler, who was hired last week as music teacher at the John F. Kennedy Primary Center and the junior/senior high schools.

Easler declined the position to accept another job offer.

The board hired Leah Parady, who was next in line from applicants for the position.

1
Text Only | Photo Reprints
New Castle
  • Taggart.jpg Arsonists damage New Castle’s football field

    With the New Castle football team just days away from the start of practice, vandals have hit Taggart Stadium. Someone set fire to artificial turf at the stadium and damaged a blocking sled the team uses in practice.

    July 30, 2014 1 Photo

  • school.jpg New Castle hires information technology director

    The New Castle school district has a new information technology director. At its meeting this week the board hired Emily Sanders of Cranberry Township to fill the position, left vacant by the retirement of Beth Barber.

    July 19, 2014 1 Photo

  • NC_Hoops.jpg Former Lady 'Canes stars reunite for tour of Europe

    Ryenn Micaletti and Abby Allen are headed to Europe. Micaletti and Allen — both members of the 2007 WPIAL Class AAAA girls basketball championship team — have joined forces with News Release Basketball to spend nearly three weeks in Germany and Belgium later this summer playing basketball and helping run clinics.

    July 19, 2014 1 Photo

  • High school registration scheduled at New Castle

    Registration has been set for new students in grades seven through 12 moving into the New Castle school district.

    July 15, 2014

  • Police.jpg Couple accused of contacting rape victim

    A man accused of raping a woman at gunpoint allegedly tried to get her to drop the charges.

    July 12, 2014 1 Photo

  • festival1.jpg Break out the bubbly

    New Castle may be the Fireworks Capital of America, but Friday night bubbles filled the air.

    July 12, 2014 1 Photo

  • wampum1.jpg State title ties: Wampum, New Castle teams celebrate incredible success

    Their spectaular success stories are separated by more than a half century. But they sat side-by-side Thursday morning, sharing more than just breakfast at Jata’s Diner, a familiar meeting spot for former Wampum High School players. 

    July 5, 2014 4 Photos

  • Hooker.tiff Male Athlete of the Year: New Castle's Malik Hooker

    Once in a while, an athlete comes along who redefines the very word. Then, there’s Malik Hooker. The New Castle High graduate took athleticism to a level rarely seen before in the area on the basketball court and on the football turf.

    July 4, 2014 1 Photo 1 Story

  • school.jpg New Castle board adopts budget despite uncertainty

    The New Castle school board adopted its 2014-15 budget Monday but may have to re-open it next week. The $5.4 million budget, introduced in May, has no tax increase and will not tap into the fund balance. Taxes remain at 17.72 mills.

    July 2, 2014 1 Photo

  • school.jpg District to sell closed schools, contents

    The New Castle school district will advertise for proposals to buy its three just-closed elementary schools.

    June 26, 2014 1 Photo

House Ads
Poll

Do you talk to yourself when you're alone?

Yes, but I’m basically just thinking out loud.
No, that would be weird.
I don’t know. Next time I’m alone, I’ll ask.
     View Results