08/31/2010 (2:42 pm)

Manufacturers survive as industry looks up

Filed under: online |

Manufacturing employment locally has been sliced in half during the past decade, but the industry that has long been the lifeblood of the Dayton region is far from dead.

The reason: local companies have fought to adapt by diversifying the type of clients they serve while going lean and investing in technology upgrades.

After losing more than 42,000 manufacturing jobs during the last decade — more than half of the jobs that existed in 2000 — employment is expected to remain flat this year, according to the most recent Wright State University Regional Economic Report. That report covers the four-county Dayton Metropolitan Statistical area.

Although the industry took a beating, many of the region’s manufacturers survived and some are even reporting the highest backlog of orders in two years.

(Click here to access database of more than 200 local manufacturers and sort by areas of expertise.)

As manufacturing begins to recover, observers say Dayton’s biggest strength lies in its diversity. The diverse manufacturing base can act as a magnet, attracting interest from outside companies, which means more opportunity for local suppliers.

From the common tool and die work to rapid prototyping to heat treating and laser cutting, the region boats a wide array of capabilities.

“We’re no longer an automotive region and actually I think that’s a good thing,” said Jim Whalen, chief executive officer of Dayton-based GemCity Engineering and Manufacturing. “We have many niche companies now that serve a wide range of industries. They’ve become the backbone of local manufacturing.”

GemCity — a contract maker of specialized equipment and products, such as reconnaissance robots used by the military — uses sources from around the globe for its services and supplies. But often, Whalen said, the company buys from local companies business

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07/24/2010 (7:24 am)

Alloy Surfaces wins $38M defense contract to make decoys

Filed under: online |

Alloy Surfaces Co. has been awarded a three-year contract worth $38.3 million to produce MJU-49/B decoy devices for the Navy, the Defense Department said Friday.

The devices are fired by aircraft to lure away heat-seeking missiles and use Alloy’s patented technology to emit infrared energy in the same band that aircraft do no fax payday loan.

Alloy will make them at its plant in Aston, Pa.

The company is a subsidiary of the Chemring Group PLC, which is based in Whiteley, England.

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07/14/2010 (6:57 pm)

Qwest calls shareholder meeting to OK CenturyLink deal; announces tender offer

Filed under: online |

Qwest Communications International Inc. has set Aug. 24 as the date for its special meeting of shareholders to vote on its proposed takeover by CenturyLink Inc.

Separately, the Denver-based telecom (NYSE: Q) Tuesday announced a tender offer to purchase up to $1.265 billion of its outstanding 3.50-percent convertible senior notes due 2025.

The shareholder meeting will be held at the Denver Marriott City Center starting at 10 a.m. MDT. Shareholders as of Tuesday will be eligible to vote on whether to accept the acquisition offer by Monroe, La.-based CenturyLink (NASDAQ: CTL).

The meeting will be audio webcast live at http://investor.qwest.com/presentations and will be available for replay afterward, Qwest said.

CenturyLink — formerly known as CenturyTel — announced plans April 22 to buy Qwest in a deal involving a $10.6 billion stock swap and about $12 million in debt acquisition.

The deal is expected to close in the first half of 2011, subject to shareholder and regulatory approval.

If completed, the merger will create a telecom serving 37 states with about 5 million broadband customers and 17 million phone lines paydayloans. Qwest alone operates in Colorado and 13 other states; CenturyLink has a 33-state territory.

Qwest's headquarters is expected to move out of Denver, but CenturyLink "will maintain a key operational presence in Denver, including a regional headquarters," the company said in April.

In Tuesday's tender-offer announcement, Qwest said it will pay a premium for each $1,000 of its 3.50-percent notes tendered based on the volume weighted average price of its stock over a 20-trading-day period starting July 14 times 206.3354, plus $30.

Qwest said it will set the precise purchase price after the close of stock-market trading on Aug. 10.

The tender offer is set to expire at 3 p.m. MDT on Aug. 12.

Copies of tender-offer documents are available from Global Bondholder Services Corp. at 866-540-1500.

Goldman, Sachs & Co. (800-828-3182) is acting as the dealer manager for the tender offer.

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05/29/2010 (4:54 pm)

Florissant mayor: Riverview Casino project ‘lifeline’ for north St. Louis County

Filed under: legal, online |

Florissant Mayor Robert Lowery Sr. said the 2,000 permanent jobs and thousands more construction jobs tied to the proposed $350 million Riverview Casino in Spanish Lake are economic stimulus St. Louis County cannot afford to lose.

“With so many carpenters, ironworkers, pipefitters, sheet metal workers, electricians, plumbers and laborers out of work in this dire recession, the North County casino project would be a lifeline to thousands of North County families,” Lowery said in a statement this week. “The permanent jobs are also attractive with unemployment remaining so high in the region.”

Last week, St. Louis County Executive Charlie Dooley came out against the casino, citing environmental and flooding concerns, a move trumpeted by residents who had protested against the project.

Applications for the 13th and final Missouri casino license are due Sept. 1. The state’s last gaming license will become available in July when Las Vegas-based Pinnacle Entertainment (NYSE: PNK) closes the President Casino on the Mississippi River at the foot of Laclede’s Landing in downtown St. Louis.

“Whether you are for or against gambling, the fact is that it is legal in Missouri and there will be one more license issued,” Lowery said. “Rather than worrying about competition between casinos in the region, the region’s leaders should be concerned that these jobs will be lost to another part of the state. North County especially could use another economic engine. If we want housing values to remain high, then there have to be jobs to keep families here.”

The group backing the 377-acre casino complex is North County Development LLC, led by Wood River attorney Brad Lakin of LakinChapman LLC; his wife, Hallie Lakin; executive Kenneth Goldstein of Argo Products Co. in north St. Louis; and Wood River-based real estate investor Julie McDonald.

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05/27/2010 (1:18 pm)

Gas prices continue to sink in Ga.

Filed under: online |

Georgia’s average gas prices are down seven cents a gallon from last week as the price of crude oil continued its fall, according to AAA Auto Club South.

The average price per gallon in Georgia is $2.71, compared with $2.78 the week prior, $2.73 a month ago and $2.27 a year ago.

The national average price of unleaded regular gasoline is $2.80 per gallon.

The price of crude oil was down for the third week amid concerns the financial crisis in Europe will worsen and put a halt on global economic recovery. Crude oil closed Friday at $70.04 a barrel on the New York Mercantile Exchange.

The European crisis has pushed the value of the euro down 12 percent against the dollar and is one of the major factors that has caused the price of crude to decrease, AAA said payday lenders. At the same time, U.S. stockpiles of crude grew for the 15th week.

“The possibility that Europe’s financial problems will slow global demand at a time when U.S. demand is already slow to rise has investors worried,” said Jessica Brady, AAA spokeswoman, in a statement. “The lack of demand can be seen in the constant increase in U.S. stockpiles of crude that are now well above 362 million barrels. Lower retail gasoline prices are always welcomed by consumers, and they can expect to see just that as retail prices drop again this week.”

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03/24/2010 (12:30 pm)

Peabody to buy $15M stake in Calera

Filed under: online |

Peabody Energy said it plans to buy a $15 million equity interest in Calera Corp., which has proprietary technology that converts carbon dioxide into green building materials.

Los Gatos, Calif.-based Calera, led by Chief Executive Brent Constantz, recently completed a demonstration project near Moss Landing, Calif., which used the emissions stream from a natural gas-fueled power plant. The Calera technology mixes CO2 with water from a variety of sources, causing the minerals to bond and release as synthetic limestone.

Every ton of Calera building material is expected to store as much as a half-ton of carbon dioxide, Peabody said Monday.

The technology captures CO2 emissions from coal- or gas-fueled power facilities, cement plants and refineries, and converts it into solid carbonates that can be used as building materials in the form of aggregates or other cement-type materials payday loan lenders. Because Calera’s process removes minerals and other constituents from water, it also acts as a freshening system to produce fresh water, which can benefit areas of the world that need clean water, according to Peabody.

St. Louis-based Peabody (NYSE: BTU), led by Chairman and CEO Gregory Boyce, is the world’s largest private-sector coal company with $6 billion in revenue. Its coal products fuel 10 percent of all U.S. electricity generation and 2 percent of worldwide electricity.

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03/03/2010 (4:51 am)

Apple audit finds suppliers used underage workers

Filed under: economics, online |

Apple Inc. said in a report posted on its Web site Saturday that an audit of its suppliers found that three hired 11 underage workers to help build its iPhone, iPod and Macintosh computer in 2009.

“Apple discovered three facilities that had previously hired 15-year-old workers in countries where the minimum age for employment is 16,” the company said about its onsite audit of 102 factories.

The full report can be viewed by clicking here.

Apple (NASDAQ:AAPL) said the underage workers were “no longer in active employment at the time of our audit easy payday loans.”

The company said it also found eight cases where excessive recruitment fees were paid, three situations involving hazard waste disposal and three involving falsified records.

The company didn't name the suppliers where violations were found.

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02/26/2010 (5:09 pm)

Martek Biosciences to expand Columbia headquarters

Filed under: online |

Martek Biosciences Corp., fresh off its $200 million acquisition of Amerifit Brands Inc., is expanding its Columbia headquarters.

The company has leased an additional 22,000 square feet at the Columbia Business Center. Martek (NASDAQ: MATK), in taking the additional space, has also renewed its lease of 66,000 square feet at 6480 Dobbin Road.

The firm, which has other facilities in Colorado, Kentucky and South Carolina, was represented in its lease by Manekin LLC broker Adam Nachlas cash advance. Preston Partners brokers Danielle Schline and Athan Sunderland represented the landlord.

Lease terms were not disclosed.

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02/09/2010 (7:03 am)

Zhu Zhu pets: The next generation

Filed under: online |

Good news for Zhu Zhu fans: The fuzzy electronic hamsters have quickly multiplied from just four last year to more than 40 new ones that will hit stores by summer.

The $10 Zhu Zhu Pets, which scurry around the floor making squeaks and interact with each other in separately sold habitats, were the hottest-selling toys of 2009.

According to Cepia Inc., the company that launched the toys last year, more than 7 million U.S. households are already owners of Zhu Zhu hamsters such as the hugely popular "Mr. Squiggles" and "Pipsqueak."

Bruce Katz, vice president at Cepia, said the company has so far raked in about $70 million from worldwide sales of these toy rodents.

But that was last year. The buzz ahead of the upcoming annual Toy Fair in New York is all about what Cepia has in its toy chest for this year.

Katz provided a sneak peek on Thursday. Among the new Zhu Zhus is a line of four hamsters called Rockstars names "Pax," "Kingston," "Rider" and "Roxie." The names are inspired by the children of celebrities, including Angelina Jolie and Gwen Stefani.

"Rockstars are the first long-haired hamsters with attitude," said Katz. Although the hamsters don’t interact with each other, Katz said a smart chip in each toy gives it its own unique personality.

Katz said the new "Wild Bunch" collection extends the brand beyond hamsters. "There’s a skunk, hedgehog, raccoon and a bunny," he said.

"The appeal of this new collection is that these are animals that every child wants to have but parents won’t let them have it," said Katz

There’s also a much-anticipated Kung Zu line of fighter hamsters geared primarily for boys aged 8 to 12.

Cepia will introduce 40 new Zhu Zhu characters in total this year, launching a new line every six weeks, said Katz.

And if that isn’t enough Zhu Zhu for you, Katz said Cepia is introducing new "play environments" that include cars, boats, an elevator and a beauty salon for these toy hamsters.

"The car, boat and other toys are all hamster powered," said Katz, explaining that the running wheels on each Zhu Zhu toy powers the car, boat and elevator into action.

But given that kids can easily become bored with one type of toy, isn’t Cepia worried about a Zhu Zhu overkill?

"We think that with what we shipped last year, we’re not even close to fulfilling demand in the marketplace," said Katz. "Kids love to collect, and there’s a strong collectible aspect to Zhu Zhu." 

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01/13/2010 (8:06 am)

Rush is on to lock up rights to flat GTA rooftops

Filed under: online |

Flying into Pearson International Airport offers a view of the GTA that would make even the least excitable solar entrepreneur salivate.

What’s the big deal? In a word: rooftops. Thousands of flat rooftops on hotels, manufacturing plants, warehouses, apartment and office buildings, schools, hospitals and shopping malls. Each is a sunlight sponge with the potential to take the sun’s rays and convert them into emission-free electricity.

In a province prepared to pay richly for solar power, it’s no surprise then that the race is on to lock up leases on prime rooftop real estate across the Greater Toronto Area and the rest of Ontario.

"It’s kind of like a gold rush right now," said Justin Woodward, director of solar development for Toronto-based Greta Energy Inc., which is focusing its efforts on smaller towns outside the GTA.

Greta Energy is one of dozens of emerging ventures that are approaching commercial property owners with an offer that is difficult to refuse.

Give them 20-year access to your building’s unused rooftop and they’ll kindly compensate you for the space – similar to how farmers over the years have earned income by allowing wind turbines on their property.

With that secured access, companies will design, build and own the rooftop solar system at no expense or risk to the building owner. They’ll then apply to connect the system to the grid as part of the Ontario Power Authority’s feed-in-tariff program, which for large commercial rooftops pays between 53.9 cents to 71.3 cents per kilowatt-hour and guarantees quick connection to the grid.

Payment to the building owner can come in a number of ways: a percentage of annual electricity revenues from the system, or a fixed price per square-foot of rooftop being used to host the system.

Greta Energy prefers the square-footage approach, which can vary from 10 cents to $1 per square foot but on average lands at about 30 cents. This means a 250-kilowatt system that takes up 40,000 square feet (3,716 metres) of space would result in an annual payment of $12,000 to the building owner.

"The rooftop lease works out to about 10 per cent of (electricity) revenues," said general manager Chris Young of Ottawa-based Enfinity Canada

"At the end of the term the equipment is transitioned to the building owner’s hands so he can benefit from electricity production beyond the 20-year contract."

Alternatively, compensation might be a guarantee to supply solar-sourced electricity over two decades for less than what a building owner currently pays. CarbonFree Technology of Toronto takes this approach.

The market is increasingly becoming crowded, with Ozz Solar, Helios Energy, Rumble Energy and SunOne Energy Canada among a growing list of solar rooftop aggregators knocking on doors.

Woodward said he’s noticed a dramatic change since the Ontario Power Authority announced the province’s new feed-in-tariff program on Sept. 1. He estimated that for every 10 building owners that were cold-called three months ago there would be one that had already been contacted by a competing developer.

"It’s now probably one in four calls," he said. "Right now there are a lot of small players jumping into the market, people who just get business cards made up or foreign companies just cold-calling commercial property owners."

Building owners need to be cautious, said Young, warning that some "lease consultants" are merely accumulating rooftop real estate that can be flipped for a profit.

"If they sign on with someone who is going to flip the project to someone else, that’s money out of the building owner’s pocket," he said. "Property owners should be looking for people who have a strong financial track record and are capable of following through with the project they’ve contracted for."

He said rooftops must also be inspected to ensure they are strong enough to handle the weight of both the panels and winter snow. Enfinity, for example, builds the cost of insurance into its business model to take account of possible damage to a roof.

Ben Chin, a spokesman for the Ontario Power Authority, said it’s important for property owners to do their homework before entering any long-term leasing contract.

"You wouldn’t hire a plumber without experience," said Chin

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