May 6, 2016 at 7:54 p.m.
CAFOs top April construction
Business Roundup
Two confined feeding buildings for swine topped construction projects receiving building permits in April from the Jay/Portland Building and Planning Office. Construction projects for the month totaled $2,114,550.
Terry and Sherri Finnerty were issued a permit for the $1.6 million swine buildings at 2497 S. Indiana 1.
Other permits were issued in April to Trent Paxson for a $70,000 pole barn at 5664 N. 500 West, Sylvester Sell for a $10,000 pole building at 10136 W. Indiana 26, Steve Fullenkamp for a $35,000 grain bin at 8066 E. Indiana 67, JC Muhlenkamp Family Farms Inc. for a $30,000 barn addition at 5977 E. 600 North, Jacob Schmiesing for a $40,000 building addition at 6910 S. 300 East.
Also to Stephen A. Reitz for a $1,200 lean-to at 6275 N. 550 East; Derek and Tonia Hardy for a $500 fence at 175 E. South St., Pennville; Laramie VanSkyock for a $1,000 fence at 209 W. Second St., Portland; Craig Haskett for a $2,800 fence at 405 E. High St., Portland; Beth Fouch for a $1,000 fence at 112 Honeysuckle Lane, Portland.
Also to Diane M. Shawver for a $130,000 new home at 388 E. 650 South, J.B. Goodrich for a $45,000 residential addition and storage building at 1035 E. 200 South, Michael Crooks for a $20,000 residential addition at 3583 N. 300 East, Aaron and Clarissa Lairson for an $8,000 garage at 1451 N. U.S. 27, Daniel Shetler for a $30,000 addition at 4618 N. 150 East, Jerry Hopkins for a $20,000 attached garage at 146 W. 500 South, Jonas J. Schwartz for a $15,000 addition at 1531 E. 800 North, and Matthew Miller for a $1,000 deck at 420 E. Race St., Portland.
Also to Aaron Dennis for an $8,300 deck, garage and pergola project at 1326 W. 200 North, Tim and Penni Taylor for a $500 covered porch at lot 396 at 3965 W. 550 South, Mark Lefeld for a $7,000 pole building on Fort Recovery Road, Larry and Pamela Weaver for a $14,000 storage building at 1467 E. Indiana 26, Nancy Rupe for a $250 shelter at 621 W. Main St., Portland, and David and Jan Rigby for a $24,000 garage at 225 E. Sixth St., Portland.
A business occupancy permit was issued for Patriot Sportswear for its new location at 109 and 111 N. Meridian St., Portland.
Greetings
Fortune reported this week that Walmart will be reviving its door-greeter program this summer.
“At the majority of its nearly 5,000 U.S. stores, Walmart will position a greeter at the entrance, reversing a previous strategy of putting such workers in other parts of the store,” Fortune said. “As for the remainder, largely stores deemed to be at greater risk of theft, Walmart will also station a so-called ‘customer host’” as a way of preventing shoplifting.
Shoplifting and employee theft amount to a $300 million a year problem for the company. A new position is also expected to be created to oversee self-checkouts, an area prone to theft.
Posts a loss
Allegheny Technologies Inc., parent company of Portland Forge, has reported a first quarter loss of $101 million on sdales of $758 million.
The company said the results reflect the ongoing restructuring of its flat rolled products business. Part of that restructuring involves a reduction of that division’s workforce through the elimination of 250 jobs.
“Commercial aerospace market sales increased 20 percent in the first quarter 2016 compared to the fourth quarter 2015. We saw double-digit demand growth from both jet engine and airframe customers of 15 percent and 30 percent, respectively,” Rich Harshman, chairman, president and chief executive officer, said in a prepared statement.
“ATI sales to the aerospace and defense market increased to 52 percent of total sales in the first quarter 2016 from 41 percent of total sales for the full year 2015. This market mix change is driven in large part by the growth of ATI’s next-generation mill products, forgings, and castings as well as legacy forgings and castings that are new to ATI,” Harshman said.
Cohort forming
A new cohort is forming for students interested in earning an associate of science in business degree from Indiana Wesleyan University at John Jay Center for Learning.
The onsite class will begin on Aug. 8.
For more information, contact Carolyn Carducci at (260) 729-5525, extension 223, or via email at [email protected].
Revenue up
CVS Health has reported first quarter revenue that’s up by 18.9 percent, while first quarter profit fell 6.1 percent.
Profit for the period was $1.15 billion on revenues of $43.22 billion.
Earnings down
Franklin Electric Co., now headquartered in Fort Wayne, reported net sales for the first quarter of $218 million, down three percent from the same period last year. First quarter earnings were $13.5 million, down sharply from $19.8 million in the same quarter last year.
The company makes a variety of submersible pumps.
Partnering
Tyson Foods Inc., parent company of Portland’s Tyson Mexican Original, announced Friday that it will serve as National Innovation Partner of No Kid Hungry, a national campaign that is sponsored by the non-profit group Share Our Strength.
The company said the partnership will focus on developing and improving a national after-school meals program. The project will span two years, though Tyson has been a longtime partner of Share Our Strength.
Deal rejected
Tribune Publishing has rejected an $815 million offer from Gannett, publisher of The Star Press in Muncie and a number of other Indiana newspapers including The Indianapolis Star.
Tribune’s board rejected the unsolicited offer unanimously on Wednesday.
The company, which owns The Los Angeles Times, The Chicago Tribune, and The Orlando Sentinel among other newspapers, said it proceed with its strategic plan to revive its print business and continue to grow in digital content.
Sales up
Honda, a major customer of FCC (Indiana), reported a 14.4 percent sales increase for both its cars and SUVs in April, The Associated Press reported this week.
Nissan also reported record sales for the month. Ford posted record sales of SUVs, and Toyota set a record for SUV and truck sales. Only Volkswagen and General Motors saw sales decline.
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