October 21, 2016 at 7:57 p.m.
Ethanol industry OK with both
Business Roundup
The chief executive officer of POET Biorefining believes either presidential candidate will be willing to work with the ethanol industry.
“We’re confident that both candidates understand the importance of ethanol and biofuels,” he said in an interview with the Des Moines Register recently. “We have worked very hard to make sure both candidates understand this industry.”
Broin said the ethanol industry has worked closely with the campaigns of both Republican Donald Trump and Democrat Hillary Clinton in an effort to boost the renewable fuels industry.
Both candidates have taken ethanol industry-friendly positions on the Renewable Fuel Standard, the 2007 law that requires increasing amounts of renewable fuels to be blended into gasoline.
Income up
First Financial Bancorp this week reported net income for the three months ending Sept. 30 of $22.9 million or 37 cents per diluted common share. That compares with net income of $18.7 million or 30 cents per share for the same period last year.
For the nine months ending Sept. 30, the bank holding company had earnings per diluted common share of $1.05, up from 89 cents for the first three quarters of 2015.
The company reported a 6.2 percent growth in loans.
“We are extremely pleased with another quarter of solid results, which produced our 104th consecutive quarter of profitability,” said chief executive officer Claude Davis in a prepared statement.
Plant honored
Ardagh Group’s glass container plant in Dolton, Illinois — a sister plant to Ardagh’s operations in Dunkirk and Winchester — has been honored as Cook County Manufacturer of the Year.
The award was presented Oct. 6 at the Making Manufacturing Matter Awards and Recognition event in Chicago.
The Dolton plant employs more than 440 and has been in operation since 1954.
Buy McDonald’s
The Berne McDonald’s has been purchased by Jason and Danielle Monfort of Minster, Ohio.
Jason Monfort is a second generation McDonald’s owner/operator, who joked that he has “ketchup in his veins.”
Chicken recall
Tyson Foods Inc. is recalling 35 cases of its fully cooked Golden Crispy Popcorn Chicken that was distributed in Missouri and Illinois.
A piece of plastic was found in one bag of the product. The company noted that this product is not sold in stores but is intended for institutional use.
Tyson Foods is the parent company of Tyson Mexican Original in Portland.
New CR-V
Honda Motor Company, a major customer of FCC (Indiana) in Portland, is introducing a new, larger, re-designed version of its popular CR-V sport utility vehicle.
And Bloomberg reports that competition in that field is becoming more intense.
While Honda’s CR-V has been the most popular vehicle in its class for eight of the last nine years, both Ford and General Motors are making inroads.
The CR-V has been the top seller because of Honda’s strong quality reputation and the vehicle’s competitive price and spacious interior, Alexander Edwards of Strategic Vision, a consumer-research company, told Bloomberg.
But Edwards said the CR-V ranked 14th out of 20 vehicles for total quality in a Strategic Vision survey of customers who bought the 2016 model.
“Honda shouldn’t take their success for granted,” especially as “companies like Subaru develop a stronger brand image and as they offer better features,” Edwards told Bloomberg.
The news service said sales of the CR-V this year through September totaled 263,493, just 3,113 ahead of Toyota Motor Corp.’s RAV4.
A bad fit?
Kroger is wondering whether it should go ahead with buying some of the stores Walgreens must sell as part of its proposed acquisition of Rite Aid Corp., Reuters reported this week.
Walgreens had said it would be divesting between 500 and 1,000 stores in order to win regulatory approval for its Rite Aid acquisition, and Kroger had expressed an interest in buying some of those.
But now, Reuters reported, the supermarket company has concerns about the financial feasibility and marketing fit of such a deal.
Chinese service
Wal-Mart plans to roll out a two-hour delivery service for its online business in China, Forbes reported this week.
The company is partnering with JD.com, a small competitor of Chinese e-commerce giant Alibaba Group. Wal-Mart holds a 10.8 percent stake in JD.com.
Franchisee gripe
Consumerist reported this week that there’s unrest on the part of McDonald’s franchisees when it comes to a continuing emphasis on discounts.
A survey of 30 operators running 271 restaurants suggested that sales growth has slowed in recent months.
“Kick the discounting addiction. Focus on profitable sales, not just customer counts,” one franchisee was quoted as saying.
“We are discounting almost everything from all drinks to many items on the regular menu, and some items on the breakfast menu,” another reportedly responded. “It is all about top-line sales, not running profitable restaurants. That is why operators need several restaurants today, as the return on their investment dwindles.”
Downtown dollars
Greenwood plans to give out a half-million dollars in grants to help pay for renovations to downtown buildings, The Daily Journal of Johnson County reported this week..
So far, two projects have been approved, totaling more than $100,000, which will pay for façade work to two buildings with multiple businesses, The Journal said..
The Greenwood Redevelopment Commission set aside $500,000 this summer for a program to assist businesses along Main Street and Madison Avenue with making improvements to their properties.
“We’re confident that both candidates understand the importance of ethanol and biofuels,” he said in an interview with the Des Moines Register recently. “We have worked very hard to make sure both candidates understand this industry.”
Broin said the ethanol industry has worked closely with the campaigns of both Republican Donald Trump and Democrat Hillary Clinton in an effort to boost the renewable fuels industry.
Both candidates have taken ethanol industry-friendly positions on the Renewable Fuel Standard, the 2007 law that requires increasing amounts of renewable fuels to be blended into gasoline.
Income up
First Financial Bancorp this week reported net income for the three months ending Sept. 30 of $22.9 million or 37 cents per diluted common share. That compares with net income of $18.7 million or 30 cents per share for the same period last year.
For the nine months ending Sept. 30, the bank holding company had earnings per diluted common share of $1.05, up from 89 cents for the first three quarters of 2015.
The company reported a 6.2 percent growth in loans.
“We are extremely pleased with another quarter of solid results, which produced our 104th consecutive quarter of profitability,” said chief executive officer Claude Davis in a prepared statement.
Plant honored
Ardagh Group’s glass container plant in Dolton, Illinois — a sister plant to Ardagh’s operations in Dunkirk and Winchester — has been honored as Cook County Manufacturer of the Year.
The award was presented Oct. 6 at the Making Manufacturing Matter Awards and Recognition event in Chicago.
The Dolton plant employs more than 440 and has been in operation since 1954.
Buy McDonald’s
The Berne McDonald’s has been purchased by Jason and Danielle Monfort of Minster, Ohio.
Jason Monfort is a second generation McDonald’s owner/operator, who joked that he has “ketchup in his veins.”
Chicken recall
Tyson Foods Inc. is recalling 35 cases of its fully cooked Golden Crispy Popcorn Chicken that was distributed in Missouri and Illinois.
A piece of plastic was found in one bag of the product. The company noted that this product is not sold in stores but is intended for institutional use.
Tyson Foods is the parent company of Tyson Mexican Original in Portland.
New CR-V
Honda Motor Company, a major customer of FCC (Indiana) in Portland, is introducing a new, larger, re-designed version of its popular CR-V sport utility vehicle.
And Bloomberg reports that competition in that field is becoming more intense.
While Honda’s CR-V has been the most popular vehicle in its class for eight of the last nine years, both Ford and General Motors are making inroads.
The CR-V has been the top seller because of Honda’s strong quality reputation and the vehicle’s competitive price and spacious interior, Alexander Edwards of Strategic Vision, a consumer-research company, told Bloomberg.
But Edwards said the CR-V ranked 14th out of 20 vehicles for total quality in a Strategic Vision survey of customers who bought the 2016 model.
“Honda shouldn’t take their success for granted,” especially as “companies like Subaru develop a stronger brand image and as they offer better features,” Edwards told Bloomberg.
The news service said sales of the CR-V this year through September totaled 263,493, just 3,113 ahead of Toyota Motor Corp.’s RAV4.
A bad fit?
Kroger is wondering whether it should go ahead with buying some of the stores Walgreens must sell as part of its proposed acquisition of Rite Aid Corp., Reuters reported this week.
Walgreens had said it would be divesting between 500 and 1,000 stores in order to win regulatory approval for its Rite Aid acquisition, and Kroger had expressed an interest in buying some of those.
But now, Reuters reported, the supermarket company has concerns about the financial feasibility and marketing fit of such a deal.
Chinese service
Wal-Mart plans to roll out a two-hour delivery service for its online business in China, Forbes reported this week.
The company is partnering with JD.com, a small competitor of Chinese e-commerce giant Alibaba Group. Wal-Mart holds a 10.8 percent stake in JD.com.
Franchisee gripe
Consumerist reported this week that there’s unrest on the part of McDonald’s franchisees when it comes to a continuing emphasis on discounts.
A survey of 30 operators running 271 restaurants suggested that sales growth has slowed in recent months.
“Kick the discounting addiction. Focus on profitable sales, not just customer counts,” one franchisee was quoted as saying.
“We are discounting almost everything from all drinks to many items on the regular menu, and some items on the breakfast menu,” another reportedly responded. “It is all about top-line sales, not running profitable restaurants. That is why operators need several restaurants today, as the return on their investment dwindles.”
Downtown dollars
Greenwood plans to give out a half-million dollars in grants to help pay for renovations to downtown buildings, The Daily Journal of Johnson County reported this week..
So far, two projects have been approved, totaling more than $100,000, which will pay for façade work to two buildings with multiple businesses, The Journal said..
The Greenwood Redevelopment Commission set aside $500,000 this summer for a program to assist businesses along Main Street and Madison Avenue with making improvements to their properties.
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