POET moves to save energy

POET Biorefining-Portland is among six POET plants that are scheduled to install combined-heat-and-power (CHP) systems aimed at reducing consumption of electricity, reducing greenhouse gas emissions and recovering waste energy.
The company said the system will use steam in a turbine to generate electricity to run the plant. Waste energy from the turbine will be used to meet other energy demands in the ethanol-production process.
“This is very exciting for Poet and renewable fuels. We are already much better than gasoline in overall emissions. Finding ways to make additional use of steam is a great opportunity to improve our environmental footprint even more,” POET chief executive officer Jeff Broin said in a prepared statement. “Ethanol today is a clean, renewable biofuel that reduces cancer causing aromatics in gasoline, and with upgrades like this we will continue to become even more environmentally friendly.”
Other POET plants slated for the CHP systems include Alexandria and North Manchester in Indiana and Fostoria, Marion and Leipsic in Ohio. The work is expected to be completed in 2017.

Comcast fined
Comcast, the cable TV and internet provider that dominates much of the local market, is paying a $2.3-million fine in a settlement with the Federal Communications Commission after illegally billing customers for unwanted equipment and services.
“It’s basic that a cable bill should include charges only for services and equipment ordered by the customer, nothing more and nothing less,” Travis LeBlanc, the FCC’s top enforcement official, told The Washington Post.
The agreement follows a two-year FCC investigation. Comcast officials said the overcharges involved “hundreds” of its 27 million customers.

Cutting back
Verizon announced this week it will close call centers in five states — New York, Maine, Nebraska, Connecticut and California — eliminating 3,200 jobs. The wireless industry has seen revenue growth slow dramatically.
Verizon’s wireless revenue dropped about 3 percent in the first half of the latest fiscal year.

Beyond meat?
Tyson Foods Inc., parent company of Tyson Mexican Original, has taken a 5-percent ownership stake in Beyond Meat, a plant-based protein producer.
The investment, announced this week, will provide additional capital to help Beyond Meat expand its product portfolio and distribution. It will still be an independent, privately held company led by founder and CEO Ethan Brown.
“We’re enthusiastic about this investment, which gives us exposure to a fast-growing segment of the protein market. It meets our desire to offer consumers choices and to consider how we can serve an ever-growing and diverse global population, while remaining focused on our core prepared foods and animal protein businesses,” Tyson Foods’ Executive Vice President of Strategy and New Ventures & President of Foodservice Monica McGurk said in a prepared statement.
Other investors in Beyond Meat include Bill Gates, Kleiner Perkins and the Humane Society of the United States.

Parent bleeding
The Fort Wayne Journal-Gazette reported this week that Community Health Systems, the parent company of Lutheran Health Network, is in serious financial straits and may sell the Fort Wayne-based regional hospital network in an effort to get healthy again.
Lutheran Health Network is considered one of the most successful and well-established of the company’s hospital assets, but that might make it a likely candidate to sell.
Based in Frankllin, Tennessee, Community Health Systems has 158 affiliated hospitals in 22 states with almost 27,000 beds. It reported a second-quarter net loss of $1.4 billion. It has already agreed to sell three hospitals in Mississippi and one in Florida.

Something brewing?
The Indianapolis Business Journal reported this week that Scotty’s Brewhouse and Thr3e Wise Men may be on the block.
Owner Scott Wise is reportedly in negotiations with Pacific Restaurant Partners to sell the 16-restaurant chain with locations in Indiana and Florida.
Pacific Restaurant Partners is made up of investors from Arizona and Tokyo.
The reported price tag for the deal is $20 million.

Ribbon cutting
Jay County Chamber of Commerce will hold a ribbon-cutting at 8:30 a.m. Thursday for May Financial Group and Advanced Tax Services for their new offices at 111 W. Main St. and 113 W. Main St., Portland.

New center
Dollar General is planning a new distribution center in Janesville, Wisconsin, that is expected to employ 550 when it’s fully operational.
The $75-million project will include nearly one million square feet of warehouse, office space and an area truck maintenance. It is scheduled to open in 2017.

Paying back
Yum Brands Inc., parent company of Pizza Hut, KFC and Taco Bell, will more than double its returns to shareholders by 2019, Reuters reported this week.
Yum is spinning off its China division and plans to expand its share buyback plan to $13.5 billion. It has already bought back about $5.5 billion in stock.
The company’s stores are now 77 percent franchisee-owned. Yum hopes to bring that up to 98 percent by the end of 2018.

Amazon interns
Amazon plans to create 100 paid internships for low-income Indiana students.
The internships involve up to 20 hours a week and will be virtual customer service positions which allow for flexible work schedules.
Prospective interns must demonstrate financial need through their families’ expected contribution toward their college education as calculated on the FAFSA form.