Smith & Elliott in Saco merges with N.H. law firm

Smith & Elliott, a Saco-based law firm, has merged with Shaheen & Gordon, a larger firm based in New Hampshire.

The merger, announced July 9, was effective July 1. Smith & Elliott will change its name to Shaheen & Gordon and continue to operate from its Main Street office in Saco. No staff changes are expected, according to a news release from the firm.

Terms of the deal were not disclosed.

Shaheen & Gordon has offices in Dover, Concord and Manchester for its team of more than 30 attorneys and focuses on personal injury, workers’ compensation and family law. Smith & Elliott’s seven attorneys offer services in personal injury, medical malpractice, real estate, employment law and criminal defense cases.

Price of oil falls as unrest in Mideast fails to halt flow

The price of oil fell for the ninth straight day Wednesday as global supplies continue to flow despite unrest in the world’s most important oil-producing region.

The prolonged drop could lead to lower gasoline prices for U.S. drivers in the weeks ahead.

In the Middle East, the insurgency in Iraq is far from resolved, but hasn’t halted oil exports. The fighting now seems unlikely to spread to Iraq’s major oil fields. Tensions between Israel and Hamas have escalated in the past week, but aren’t threatening any major oil production.

Libyan crude exports appear poised to surge after an agreement between the government and local militias cleared the way for export terminals to open. And U.S. production continues to soar.

American Apparel reaches deal to help pay off loan

American Apparel Inc. announced late Wednesday it had reached a deal with investment firm Standard General to receive an investment of up to $25 million to bolster the clothing chain’s finances. It will also mean a shake-up in the board.

The deal will help pay off a $10 million loan from investment firm Lion Capital.

– From staff and news services