Business

THURSDAY FEBRUARY 4 2016

CENTREDAILY.COM

MARKETS

r 16,336.66

Dow Jones
+183.12

r 1,912.53

S&P 500
+9.50

r 9,495.21

COMMODITIES
NYSE
+81.44

q 4504.24

Nasdaq
12.71

Gold
+14.00

r 1127.30

GERTRUDES INTERNATIONAL HAIR SALON

Owners journey
spans continents
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

A downtown hair salon is 14 years in the making

.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Gertrudes International Hair Salon will have a

ribbon-cutting ceremony Saturday
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BY SHAWN ANNARELLI

sannarelli@centredaily.com

Most local entrepreneurs

havent owned a business
on another continent.

Gertrude Gaba-Abbey
isnt like most local entrepreneurs.
Gaba-Abbey recently
opened Gertrudes International Hair Salon at
413 E. Calder Way. She

7A

owned salons in West and

Central Africa until she
moved to the United States
14 years ago.
Her journey to opening
the downtown State College salon, however, involved more than traveling
from French-speaking Togo
to State College. GabaAbbey had to learn English,
earn her GED and get licensed to open the salon.
I was a hairdresser for

NABIL K. MARK nmark@centredaily.com

Gertrudes International Beauty Salon in State College will

hold a ribbon-cutting ceremony Saturday.

many years after I went to

beauty school in my country, Gaba-Abbey said.
When I came here, I really

wanted to open a salon, but

here it took me a long time.
I was always inspired to do
it, and Im happy that

Crude oil
+2.40

r 32.28

learning here has opened

many doors for me. Im still
learning.
She credited the Penn
State Small Business Development Center for helping
her.
Ive taken a lot of classes there, Gaba-Abbey
said. I go there all the
time.
The salon, which specializes in braids, weaves and
styling, will have a ribboncuting ceremony at 11 a.m.
Saturday.
Gaba-Abbey is working
as a caregiver, too.
Im still doing it overnight, she said. I love my
clients. I just opened the
salon, so Im not that busy
yet. Hopefully, I become
really successful.
Shawn Annarelli:
814-235-3928,
@Shawn_Annarelli

Stocks of Local Interest

Name

Div

PE

AT&T Inc
1.92f
Allergan
...
AmStsWtr
.90
ArrisIntl
...
BkNYMel
.68
Corning
.54f
FNBCp PA
.48
GenDynam 2.76
IBM
5.20
IntPap
1.76
Kaman
.72
Lowes
1.12
M&T Bk
2.80
McClatchy
...
NatPenn
.44
NwstBcsh
.56

16
...
28
14
12
16
14
15
9
13
16
21
15
1
14
19

Last

YTD
Chg %Chg

36.72 +.66
278.39 -1.29
45.91
-.63
23.73
-.77
34.34 +.05
18.38 +.29
11.92 +.15
133.79 +.26
124.72 +1.78
34.17 +.31
40.57 +1.12
67.42 -4.45
106.17 +.61
1.07 +.04
11.07 +.02
12.11 +.06

+6.7
-10.9
+9.4
-22.4
-16.7
+.5
-10.6
-2.6
-9.4
-9.4
-.6
-11.3
-12.4
-11.6
-10.2
-9.6

Name

Div

PNC
2.04
Penney
...
PepBoy
...
Raytheon
2.68
RexEnergy
...
SearsHldgs
...
SonocoP
1.40
SpeedM
.60
ThermoFis
.60
Total SA
2.71e
VerizonCm 2.26
WalMart
1.96
WeisMk
1.20

PE

Last

YTD
Chg %Chg

11 83.85 +.05 -12.0

...
7.73 +.27 +16.1
... 18.50 +.01
+.5
19 128.08 +2.64 +3.4
...
.62 +.07 -41.0
... 17.43 +.54 -15.2
15 39.81 +.82
-2.6
31 18.37
-.03 -11.3
23 126.05
-.84 -11.1
... 43.09 +1.55
-4.1
11 50.62 +.71 +9.5
14 66.27
-.59 +8.1
19 40.60 +.48
-8.4

Indexes
High

Low

18,351.36 15,370.33
9,214.77 6,403.31
643.27
539.96
11,254.87 8,937.99
5,231.94 4,292.14
2,134.72 1,812.29
1,551.28 1,215.14
22,537.15 18,550.48
1,296.00
958.48

Index
Dow Industrials
Dow Transportation
Dow Utilities
NYSE Composite
Nasdaq Composite
S&P 500
S&P MidCap
Wilshire 5000
Russell 2000

Last

Net
Chg

%Chg

YTD
%Chg

52-Wk
%Chg

16,336.66
6,834.76
626.64
9,495.21
4,504.24
1,912.53
1,297.57
19,606.93
1,010.29

+183.12
+70.60
+8.01
+81.44
-12.71
+9.50
+8.46
+82.78
+1.46

+1.13
+1.04
+1.29
+.87
-.28
+.50
+.66
+.42
+.14

-6.25
-8.98
+8.45
-6.39
-10.05
-6.43
-7.22
-7.37
-11.06

-7.56
-23.07
-1.14
-11.88
-4.50
-6.32
-11.58
-8.96
-15.20

FINANCIAL MARKETS

JOHN DAVIS Photo provided

Typhoon Central PA business partners Dave Trimbur and Leho Poldmae recently signed a multi-unit restaurant
development agreement for central Pennsylvania. Theyd like to open State Colleges The Greene Turtle in 2016, but dont
have a location yet.

State College to get

new sports bar and grill
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Greene Turtle looking to expand across

Pennsylvania
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The franchisees hope to have a location picked and start

running in 2016
.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

BY SHAWN ANNARELLI

sannarelli@centredaily.com

Restaurateurs hope locals and students will be in

a hurry to grab a bite, have
a drink and watch sports
when they open a new bar
and grill.
State College will get
The Greene Turtle, which
is based out of Maryland.
Typhoon Central PA
business partners Dave
Trimbur and Leho Poldmae recently signed a multi-unit restaurant development agreement for
central Pennsylvania. Other restaurants will be developed throughout Cumberland, Dauphin, Lancaster, Lebanon and York
counties.

Theyd like to open State

Colleges The Greene Turtle in 2016, but dont have
a location yet.
Id love to have an
answer for you right now,
and well let you know as
soon as we know, Trimbur
said. Weve worked with a
number of people and
looked at sites. Id love to
get one up by the end of
2016, but again the real
estate search will dictate
how quickly it happens.
The restaurant typically
is fitted into a 6,800 to
7,300-square-foot space
and seats about 215 people.
Trimbur said they would
employ about 120 to 130
people.
The Greene Turtles
concept is to have a broad
demographic appeal.

While we are a sports

bar and a lot of people will
come to watch sports, we
are also very family friendly, Trimbur said. State
College also has a great
local youth sports market,
and Im a big believer in
community outreach and
supporting the community
that supports us.
Poldmae operates three
Greene Turtles in Maryland and Delaware, and
Trimbur has served as
director of operations for
Poldmae. Trimbur was also
an area director for The
Rose Group, a national
franchisee company, and
lived in State College.
Were very excited
about this deal, Tom Finn,
vice president of franchise
development for The
Greene Turtle, said. The
area it covers adjoins our
core market and will benefit (our) brand awareness.
It also continues our penetration into Pennsylvania
and expansion west of the
coastline and will let us tap

In Colorado, fear rises about

InBevs entry into craft beer
BY COLLEEN SLEVIN

The Associated Press

DENVER

In a former bakery south

of downtown Denver, Matthew Fuerst makes beer
flavored with ingredients

like Hatch green chiles that

he chops by hand. He saves
money on heating bills by
pushing up space heaters
against his fermenting
tanks and covering the tops
with blankets. Hes invited
homebrewers who want to
break into the industry to

use his expensive brewing

system to try making larger
batches.
Fuerst is one of many
transplants lured to Colorado by the states reputation as a place where beer
drinkers spend hours on
breweries sunny patios

WHILE WE ARE A
SPORTS BAR AND A
LOT OF PEOPLE
WILL COME TO
WATCH SPORTS, WE
ARE ALSO VERY
FAMILY FRIENDLY.
Dave Trimbur, developer
into strong markets like
State College, which
thrives on Penn States
legendary sports program
... . With this agreement in
place, we are now actively
seeking one more strategic
franchise partner to develop Pittsburgh and the rest
of western Pennsylvania.
The Greene Turtle
opened seven restaurants
in 2015, bringing the total
to 44. About 10 more eateries will open in 2016, and
franchisees have committed to develop about 40
more.

trying every imaginable

twist on beer, often with
dogs and kids in tow, a
state whose governor is a
former craft beer magnate
who had an array of taps
installed at the governors
mansion. But Fuerst fears
that idyllic lifestyle is in
danger now that the
worlds largest beermaker,
Anheuser-Busch InBev, has
staked a claim to Colorados craft beer paradise.
Fuerst worries InBev
could use its distribution
leverage and buying power

U.S. stocks
stage a late
turnaround
Stocks staged a rapid
comeback in late-afternoon
trading to close solidly
higher Wednesday, helped
by a surge in the price of oil
and a decline in the U.S.
dollar.
Chipotle Mexican Grill
fell as the company said a
federal investigation into
its E. coli outbreak had
widened, and Yahoo sank
as the troubled Internet
company announced
layoffs and plans to sell
businesses.
The Dow Jones industrial
average rose 183.12 points,
or 1.1 percent, to 16,336.66.
The Standard & Poors 500
index rose 9.50 points, or
0.5 percent, to 1,912.53 and
the Nasdaq composite fell
12.71 points, or 0.3 percent,
to 4,504.24.
It was a day of major
swings. The Dow had been
down nearly 200 points
earlier. Major industries
that were deep in the red,
like energy and financials,
were able to recover almost
all the ground they lost. In
the red most of the day,
energy stocks ended up
nearly 4 percent.
The gains can be largely

attributed to a decline in
the value of dollar against
the major other currencies.
The U.S. dollar index,
which tracks the dollar
against other major currencies, fell 1.7 percent, a
large move for the foreign
exchange market. Nearly
all that decline happened
in the last two hours of
trading.
Many U.S. companies
have been complaining that
the appreciation of the
dollar was eroding their
earnings by making U.S.
exports less profitable.
A weaker dollar also
tends to send commodity
prices higher. That was a
relief to investors as well
since a plunge in the price
of crude oil has been decimating profits at energy
companies.
An unusually weak U.S.
dollar provided a key impetus to todays rally, Jim
Ritterbusch, an oil analyst
with Ritterbusch and Associates, wrote in a note to
investors.
The price of U.S. crude
oil jumped $2.40, or 8
percent, to close at $32.28
a barrel, which helped lift
up energy stocks.
Despite the gains on
Wednesday, investors remain skeptical of this market.

to squeeze other craft beers

out of liquor store shelves,
discount its own craft beer
line and buy up raw materials after its purchase last
month of Breckenridge
Brewery, which was part of
the first wave of craft breweries to open in Colorado
in the 1990s.
The purchase sent tremors through Colorados
thriving community of
homebrewers and beer
purists, who join beer lovers around the country
dreading increasing corpo-

rate consolidation in the

industry. I think all of us
know that if they could put
us out of business they
would and the actions that
theyre taking right now
are a threat to us, said
Fuerst, whose brewery is
called Grandmas House.
Terms of the Breckenridge deal werent released.
It follows InBevs acquisition of craft brewers Goose
Island in Chicago and 10
Barrel Brewing Co. in Oregon.

BY KEN SWEET

The Associated Press

NEW YORK