June 24, 2016 at 8:11 p.m.
I&M power lines being checked
Business Roundup
If you see trucks labeled Osmose and crews looking at electrical lines, rest assured it’s just a matter of maintenance and inspection by Indiana Michigan Power.
The company said this week it is conducting inspections of overhead and ground-level equipment throughout its service area to make sure everything is both safe and reliable.
Crews in the Osmose trucks will have a magnet identifying the truck as “Indiana Michigan Power Contractor.”
The visual inspections are done on foot as well as from slow-moving vehicles with flashers on.
Pole inspections by a company called GeoForce are also ongoing.
Anyone with questions or concerns about the work can contact I&M at (800) 311-4634.
Promoted
Roberta L. Leverich has been promoted to the position of assistant branch manager of the North Meridian Street branch of CrossRoads Financial Federal Credit Union.
She has been with CrossRoads for six years, serving most recently as senior member services staff. Her promotion was announced by CrossRoads president and chief executive officer Janet Bantz.
Attends seminar
Scott Bollenbacher, certified public accountant from Bollenbacher and Associates of Portland, recently attended the annual American Institute of Certified Public Accountants’ conference on tax strategies for high-income individuals.
The conference, held in Las Vegas, was attended by more than 800 of the country’s CPAs.
Brand focus
Executives from Tyson Foods Inc., parent company of Tyson Mexican Original of Portland, spoke to investors at the Jefferies 2016 Global Consumer Conference this week and said the company is focusing on more branded, protein-centric foods.
“We’re investing in our retail packaged brands, and we’re seeing the payoff,” Tyson president Tom Hayes told the group.
Hayes cited higher and more stable profit margins in the company’s chicken segment as a key factor in its overall improved performance.
More research
POET, parent company of POET Bio-refining Portland, is expanding its cover crop research at Emmetsburg, Iowa, as part of soil sustainability work for cellulosic ethanol development.
“Agriculture is the solution to so many of the world’s challenges, and there’s an enormous opportunity in cellulosic ethanol,” POET CEO Jeff Broin said in a prepared statement. “As this industry starts to grow, we’re working to make sure that it’s done in a way that is as sustainable as possible.”
Emmetsburg has been the center of Project Liberty, the joint venture between POET and Netherlands-based DSM that is spearheading cellulosic ethanol development.
At that site, researchers from Iowa State University and the U.S. Department of Agriculture have been working for eight years to monitor the soil under different residue removal practices.
Last year researchers added two fields of cover crops (a mix of tillage radish and oats) to ascertain what impact field cover has when paired with a variety of tillage practices and residue removal rates. This year they are planting rye as a cover crop and adding a third field to expand the variety of cover crop species and mixes to assess their specific soil benefits and the economic implications, the company said.
“One year of data is too soon to make any bold Continued from page 5
statements, but we’re certainly optimistic about pairing cover crops with biomass harvesting for cellulosic ethanol in the future,” said associate biomass research scientist Alicia ElMamouni in a prepared statement.
Going healthier
Drugstore giant CVS dropped tobacco products in late 2014.
Now it’s shifting its retail line to include a broader assortment of healthier snacks and beverages.
The company said it plans to enhance 100 stores with a “curated selection of national and niche better-for-you brands that make healthier eating on the go convenient and affordable.”
New strategy
Wal-Mart has apparently made a major shift in its China strategy.
The news agency Reuters reported this week that the company has sold its Chinese online grocery store in return for an interest in China’s number-two e-commerce firm.
Reuters said the company will swap its Yihaodian platform for a five percent stake in JD.com, worth about $1.5 billion.
JD.com is the rival of Chinese e-commerce leader Alibaba.
Wal-Mart operates more than 400 brick-and-mortar stores in China, but it has been struggling to find its footing.
“The reality is that e-commerce is hyper-competitive in China and it is tough for any platform to make money,” said Ben Cavender, Shanghai-based principal of China Market Research Group, told Reuters. “Selling up in return for a 5 percent stake in JD.com is a good way of staying in the space while reducing the risk.”
Bad veggies
Consumers are being advised to throw out or return some frozen vegetables sold at Walmart and Target stores.
Included in a Food and Drug Administration warning about listeria are frozen green peas and mixed vegetables sold under Walmart’s “Great Value” brand and Target’s “Market Pantry” brand between Sept. 2, 2015 and June 2, 2016.
“Consumers should not consume these products. Consumers who purchased affected products may return them to the place of purchase for a full refund,” the FDA stated.
There are as yet no reports of illness related to the frozen vegetables.
Reorganizing?
Motherson Sumi Systems, parent company of MSSL Wiring Systems of Portland, responded this week to Indian media speculation that the company was going to merge with Samvardhana Motherson Automotive Systems Group, in which it holds a 51 percent stake.
The company said while there have been frequent requests and suggestions from investors that its group structure be simplified and streamlined, the latest round of speculation is premature.
Any proposal for restructuring would be evaluated first by a committee, then by the board of directors. If approved, it would then make all necessary legal disclosures to the Indian stock exchange.
The company said this week it is conducting inspections of overhead and ground-level equipment throughout its service area to make sure everything is both safe and reliable.
Crews in the Osmose trucks will have a magnet identifying the truck as “Indiana Michigan Power Contractor.”
The visual inspections are done on foot as well as from slow-moving vehicles with flashers on.
Pole inspections by a company called GeoForce are also ongoing.
Anyone with questions or concerns about the work can contact I&M at (800) 311-4634.
Promoted
Roberta L. Leverich has been promoted to the position of assistant branch manager of the North Meridian Street branch of CrossRoads Financial Federal Credit Union.
She has been with CrossRoads for six years, serving most recently as senior member services staff. Her promotion was announced by CrossRoads president and chief executive officer Janet Bantz.
Attends seminar
Scott Bollenbacher, certified public accountant from Bollenbacher and Associates of Portland, recently attended the annual American Institute of Certified Public Accountants’ conference on tax strategies for high-income individuals.
The conference, held in Las Vegas, was attended by more than 800 of the country’s CPAs.
Brand focus
Executives from Tyson Foods Inc., parent company of Tyson Mexican Original of Portland, spoke to investors at the Jefferies 2016 Global Consumer Conference this week and said the company is focusing on more branded, protein-centric foods.
“We’re investing in our retail packaged brands, and we’re seeing the payoff,” Tyson president Tom Hayes told the group.
Hayes cited higher and more stable profit margins in the company’s chicken segment as a key factor in its overall improved performance.
More research
POET, parent company of POET Bio-refining Portland, is expanding its cover crop research at Emmetsburg, Iowa, as part of soil sustainability work for cellulosic ethanol development.
“Agriculture is the solution to so many of the world’s challenges, and there’s an enormous opportunity in cellulosic ethanol,” POET CEO Jeff Broin said in a prepared statement. “As this industry starts to grow, we’re working to make sure that it’s done in a way that is as sustainable as possible.”
Emmetsburg has been the center of Project Liberty, the joint venture between POET and Netherlands-based DSM that is spearheading cellulosic ethanol development.
At that site, researchers from Iowa State University and the U.S. Department of Agriculture have been working for eight years to monitor the soil under different residue removal practices.
Last year researchers added two fields of cover crops (a mix of tillage radish and oats) to ascertain what impact field cover has when paired with a variety of tillage practices and residue removal rates. This year they are planting rye as a cover crop and adding a third field to expand the variety of cover crop species and mixes to assess their specific soil benefits and the economic implications, the company said.
“One year of data is too soon to make any bold Continued from page 5
statements, but we’re certainly optimistic about pairing cover crops with biomass harvesting for cellulosic ethanol in the future,” said associate biomass research scientist Alicia ElMamouni in a prepared statement.
Going healthier
Drugstore giant CVS dropped tobacco products in late 2014.
Now it’s shifting its retail line to include a broader assortment of healthier snacks and beverages.
The company said it plans to enhance 100 stores with a “curated selection of national and niche better-for-you brands that make healthier eating on the go convenient and affordable.”
New strategy
Wal-Mart has apparently made a major shift in its China strategy.
The news agency Reuters reported this week that the company has sold its Chinese online grocery store in return for an interest in China’s number-two e-commerce firm.
Reuters said the company will swap its Yihaodian platform for a five percent stake in JD.com, worth about $1.5 billion.
JD.com is the rival of Chinese e-commerce leader Alibaba.
Wal-Mart operates more than 400 brick-and-mortar stores in China, but it has been struggling to find its footing.
“The reality is that e-commerce is hyper-competitive in China and it is tough for any platform to make money,” said Ben Cavender, Shanghai-based principal of China Market Research Group, told Reuters. “Selling up in return for a 5 percent stake in JD.com is a good way of staying in the space while reducing the risk.”
Bad veggies
Consumers are being advised to throw out or return some frozen vegetables sold at Walmart and Target stores.
Included in a Food and Drug Administration warning about listeria are frozen green peas and mixed vegetables sold under Walmart’s “Great Value” brand and Target’s “Market Pantry” brand between Sept. 2, 2015 and June 2, 2016.
“Consumers should not consume these products. Consumers who purchased affected products may return them to the place of purchase for a full refund,” the FDA stated.
There are as yet no reports of illness related to the frozen vegetables.
Reorganizing?
Motherson Sumi Systems, parent company of MSSL Wiring Systems of Portland, responded this week to Indian media speculation that the company was going to merge with Samvardhana Motherson Automotive Systems Group, in which it holds a 51 percent stake.
The company said while there have been frequent requests and suggestions from investors that its group structure be simplified and streamlined, the latest round of speculation is premature.
Any proposal for restructuring would be evaluated first by a committee, then by the board of directors. If approved, it would then make all necessary legal disclosures to the Indian stock exchange.
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