first_imgThe Vermont Economic Development Authority (VEDA) has approved nearly $30.5 million in business financings, including reissuance of a $20.5 million tax-exempt revenue bond. Roughly $10 million of the total approved financing is comprised of loans for a variety of economic development projects in Vermont’s commercial, agricultural, small business and energy sectors.  VEDA approved the reissuance of up to $20.5 million in tax-exempt revenue bonds previously issued by the Authority for Wake Robin Corporation, a Vermont 501(c)(3) nonprofit corporation that owns and operates a well-known continuing care retirement community with approximately 320 residents in Shelburne.  VEDA has assisted Wake Robin with tax-exempt bond financing several times to finance the construction and expansion of the facility.  The new bond was purchased by M&T Bank.In addition, VEDA approved over $3 million in direct commercial loans, including:Troy Minerals, Inc., Colchester – VEDA approved financing of $960,000 to help Troy Minerals, Inc. of Colchester purchase the real estate and business assets of the South Wallingford Quarry.  In addition, the company will purchase new machinery and equipment as part of the project, for which TD Bank is also providing financing. The South Wallingford Quarry comprises 212 acres and a crushing plant and is believed to contain enough stone to sustain operations there for another 20 years at the current rate of extraction. The quarry purchase will allow Troy Minerals to expand inventory and sales at a crushed stone aggregate operation it also owns in Florence.  Troy Minerals, Inc. was formed in 1991 to develop and operate various stone quarries.  The company currently employs nine people and will also maintain the South Wallingford Quarry’s eight employees. Ye Olde England Inn, Stowe – After extensive renovations and redesign work are completed, new owners will reopen Ye Olde England Inn in Stowe next fall.  VEDA approved financing of $1,441,000 to assist in the project, and the Community National Bank is providing financing, as well.  The property on the Mountain Road in Stowe consists of two buildings on 2.2 acres and 30 rooms and suites.  The new majority owners and business partners, Leigh Blood and Rich Cooper, plan to re-brand, market and launch the property as a member of the Lark Hotels Collection.  As part of the project, the property will be completely renovated to improve room layout and cosmetic appearance, transforming it from an English-style inn to a modern New England lodge.  Plans are to reopen the facility, which has been closed since last spring, in September of 2015. Within three years of the purchase and renovation project, it is estimated that 28 full-time hourly and salaried jobs will be created.BIW, LLC, Manchester  – A real estate holding company for a Manchester mattress manufacturer will receive a $220,000 VEDA loan to put a new roof on its factory building. The company, WCW, Inc., manufactures and distributes mattresses and mattress products nationally and internationally to the medical, consumer and hospitality markets.  A few years ago, WCW consolidated all its operations in a move from Hoosick Falls, New York to Manchester. VEDA provided financing at that time to help the company make the move. Products offered by WCW include electric adjustable beds, latex foam beds, memory foam beds, airbeds, dog beds, memory foam toppers, pillows, bed frames/foundations, wheelchairs and seat cushions.  WCW has developed a system called Self Adjusting Technology, which is based on a unique, non-electric pump that adjusts support to conform to each individual’s unique shape. The Merchants Bank is also providing financing for the project, which will result in the replacement of the roof on a 29-year-old building.  WCW currently employs 104 people and it is expected this number will increase to 115 in the next three years. Flex-A-Seal, Inc., Essex Junction – VEDA approved a $114,000 VEDA loan to its long-time borrower, Flex-A-Seal, Inc., to fund its purchase of a new CNC milling machine that will increase capacity, reduce production costs, speed delivery times and handle more specialized work.  The project will also fund an expansion in modular work areas for manufacturing supervisors and the purchase of other equipment.   People’s United Bank is also participating in funding the project.Flex-A-Seal’s products include dual and split cartridge seals, welded bellows, cryogenic seals and heavy-duty slurry seals.  These products are sold worldwide to companies involved in pulp and paper, chemical and food processing, drug manufacturing, wastewater, potable water, refineries, marine and pipeline systems.VEDA’s financing relationship with Flex-A-Seal started with a real estate loan in 1991, and since that time, has included a number of machinery, equipment and building loans.  Flex-A-Seal started in 1983 with three employees.  Today, the company employs 88 people in Vermont and that number is expected to grow to 105 within three years of the project.   VEDA also approved:·         $3.2 million through the Authority’s SBA 504 Program, through which the Vermont 504 Corporation, with SBA’s approval, makes SBA 504 loans to eligible and qualified borrowers;·         Almost $1.4 million through the Authority’s agricultural loan program, the Vermont Agricultural Credit Corporation (VACC); and·         $906,891 in energy-related financing.In addition, over $1.4 million was approved through the Authority’s Small Business Loan Program, which assists growing Vermont small businesses that are unable to access adequate sources of conventional financing. Approved loans include:·         Vergennes Laundry, Vergennes –  $110,000 to partially finance the purchase of the Main Street, Vergennes building which Vergennes Laundry, a wholesale/retail wood-fired bakery, espresso and wine bar, has leased since 2010.  Vermont Federal Credit Union is also providing financing for the project.About VEDAThe Vermont Economic Development Authority (VEDA) is Vermont’s statewide economic development finance lender.  VEDA was created by the General Assembly in 1974 with a mission “to contribute to the creation and retention of quality jobs in Vermont by providing loans and other financial support to eligible and qualified Vermont industrial, commercial and agricultural enterprises.”Over the years, VEDA has grown and adapted its financing programs to keep pace with an ever-changing economy.  VEDA offers a wide range of low-cost lending options for Vermont businesses and farms of all sizes, and the Authority’s lending solutions are customized to each borrower’s individual needs.  Whether in the form of direct loans, tax-exempt bond issuance or loan guarantee support, VEDA’s innovative financing programs help ensure that Vermont businesses and farms have the capital they need to grow and succeed.  VEDA most often lends in conjunction with banks and other financing partners, helping to stimulate economic development activity in Vermont.Since 1974, VEDA has provided over $2.07 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, family farms, and agricultural enterprises, helping them to realize their business growth goals, create jobs, and enhance the vitality of Vermont’s economy.  For more information about VEDA, visit www.veda.org(link is external) Source: VEDA 1.12.2015last_img read more

first_imgConstruction input prices remained unchanged in October and are just 0.5 percent above where they were a year ago, according to analysis of the U.S. Bureau of Labor Statistics Producer Price Index released Wednesday by Associated Builders and Contractors (ABC).Despite the modest increase in the aggregate input price level, Wednesday’s report represents the largest year-over-year price increase since November 2014.Generally, construction input prices, particularly natural gas and crude petroleum, have headed lower since the summer of 2014. However, that pattern of falling prices no longer holds. Crude petroleum prices were up 10.5 percent on a year-over-year basis in October while natural gas prices were up 12.2 percent.“These data are part of a larger inflation story, as inflationary pressures have been largely tempered by the decline in fuel prices during the past two years,” said ABC Chief Economist Anirban Basu. “Health care costs are spiking, wage pressures are building and fuel prices are no longer falling rapidly. Additionally, price increases are associated with the cost of housing and education.“The result is that the inflation and interest rate environment is steadily changing,” Basu said. “Promised infrastructure-led stimulus and tax cuts could create additional price pressures as workers’ compensation rises further and consumer spending helps bid up the price of goods and services more rapidly. At the same time, fewer restrictions on oil and natural gas production may limit fuel price increases.“The result is a complicated picture in which the price of certain inputs—such as iron, steel, copper, plumbing fixtures, and nonferrous wire and cable—begin to rise more rapidly during the coming months while fuel price increases remain stable,” Basu said. “Broader inflation in the United States has become more likely, an expectation that has been reflected in the form of higher interest rates since the election eight days ago. However, a still sputtering global economy will help put a lid on construction input price inflation, suggesting that contractors should not be deeply concerned by prospects for rapid input price increases, at least not yet.”last_img read more

first_imgWith more than 20 years of experience across multiple industries and functional areas, deMoulpied has particular expertise in organizations with complex technical products. Combined, his prior positions have required a spectrum of skills in corporate strategy, operations improvement, product quality, and revenue cycle management. He has an impressive history of utilizing data driven problem solving (Lean Six Sigma) and project management (PMP and CSM) to achieve strategic goals surrounding customer satisfaction, operational efficiency and improved profit.  LSI President Brett Tennar says, “Steve’s success in developing operational strategies that improves the bottom line, builds teamwork, reduces waste and ensures quality product development and distribution checks many of the boxes of what we were looking for in a COO. This, coupled with his career in the Air Force working with highly technical systems and his in-depth understanding of Lean Six Sigma and Business Process Management sealed our offer. As our tagline states, our products are Powered by Science. This data driven approach is one reason why our company has grown exponentially as we employ the most advanced technology to product development. I am confident that Steve is the right person to drive operational strategy for our diverse and growing brands.” Advertisement DeMoulpied has a Bachelor of Science degree in Engineering Management from the United States Air Force Academy and a Master of Business Administration degree from the University of Dayton in Marketing and International Business. He served six years with the USAF overseeing the development of technology used on fighter aircraft and the E-3 Surveillance aircraft, finishing his career honorably as Captain. DeMoulpied comes to LSI from the Private Client Services practice of Ernst & Young where he managed strategy & operations improvement engagements for privately held client businesses. Some of his prior roles include VP of strategic development, director of strategic initiatives, and Lean Six Sigma Master Black Belt at OptumHealth, UnitedHealth Group’s health services business, as well as Lean Six Sigma Black Belt at General Electric, where he applied operations improvement principles to customer service, supply chain and product development. A successful entrepreneur, deMoulpied is also the founder of PrestoFresh, a Cleveland-based e-commerce food/grocery business.  CLEVELAND — Eaton Corp. has named Eric Zahrai manager for Aftertreatment Marketing and Strategic Partners for its Truck Group. In his new role, Zahrai will be responsible for providing marketing leadership for one of Eaton’s newest businesses that provides technology and systems for aftertreatment of diesel-powered commercial vehicle exhaust. Additionally, Zahrai will take the lead for managing the relationship with Eaton’s strategic commercial vehicle supplier partners, Dana Holding Corp. and Bendix Heavy Vehicle Systems Group, and will lead the implementation of a strategic account targeting process.AdvertisementClick Here to Read MoreAdvertisement John Beering, director of marketing for the Truck Group, said, “Eric’s sales and marketing experience with Eaton is deep and global, and that gives him an important perspective in his new position. We’re looking to leverage Eric’s proven leadership skills to take our Aftertreatment business toward commercialization, and to foster greater strategic cooperation and synergy with our Roadranger marketing partners at Dana and Bendix.” In cooperation with Dana, Bendix and other trusted partners, the Roadranger Marketing partnership provides a complete system of truck drivetrain and safety solutions to the commercial vehicle marketplace. Zahrai joined Eaton in 1986, and has occupied several sales and marketing leadership roles with increasing responsibility. His most recent position was sales and marketing manager – Europe. Zahrai holds a bachelor’s degree in business from Middlesex Business School in London.,Lubrication Specialties Inc. (LSI), manufacturer of Hot Shot’s Secret brand of performance additives and oils, recently announced the expansion of senior leadership. Steve deMoulpied joins LSI as the company’s chief operating officer (COO). AdvertisementClick Here to Read MoreAdvertisementlast_img read more

first_imgAsk a friend or relative who lives outside of the immediate area—preferably in another state—to be your family’s Out-of-Town Contact.Identify a shelter-in-place location inside your home, two (2) emergency meeting places outside your home where your family can reunite in an emergency, and at least two (2) ways out of every room in your home.Ask your child’s school or daycare about their emergency communication and family reunification plans.Update your Emergency Action Plan whenever your family moves, your child changes schools, you change jobs, have a child, or experience some other significant life event.Weatherproof your home.Insulate any water lines that run along exterior walls so your water supply will be less likely to freeze.Caulk and weather-strip doors and windows.Insulate walls and attic.Install storm or thermal-pane windows or cover windows with plastic from the inside.Repair roof leaks and cut away tree branches that could fall on your home or other structure during a storm.Have your chimney or flue inspected each year.If you plan to use a fireplace or wood stove for emergency heating, have your chimney or flue inspected each year. Ask your local fire department to recommend an inspector or find one online.Install a smoke detector and a battery-operated carbon monoxide detector. If you’ll be using a fireplace, wood stove, or kerosene heater, install a smoke detector and a battery-operated carbon monoxide detector near the area to be heated. Test them monthly and replace batteries twice a year.Keep a multipurpose, dry-chemical fire extinguisher nearby.All fuel-burning equipment should be vented to the outside.Each winter season have your furnace system and vent checked by a qualified technician to ensure they are functioning properly.For older adults, keep an easy-to-read thermometer inside your home.If you or a loved one are over 65 years old, place an easy-to-read thermometer in an indoor location where you will see it frequently. Our ability to feel a change in temperature decreases with age. Older adults are more susceptible to health problems caused by cold. Check the temperature of your home often during the winter months.Create an emergency car kit. It is best to avoid traveling, but if travel is necessary, keep these things in the car:Cell phone, portable charger, and extra batteriesItems to stay warm such as extra hats, coats, mittens, and blanketsWindshield scraperShovelBattery-powered radio with extra batteriesFlashlight with extra batteriesWater and snack foodFirst aid kit with any necessary medications and a pocket knifeTow chains or ropeTire chainsCanned compressed air with sealant for emergency tire repairCat litter or sand to help tires get traction, or road salt to melt iceBooster cables with fully charged battery or jumper cablesHazard or other reflectorsBright colored flag or help signs, emergency distress flag, and/or emergency flaresRoad mapsWaterproof matches and a can to melt snow for waterSteps to Take Before the Storm HitsListen to weather forecasts, and check your supplies.Listen to weather forecasts regularly and check your emergency supplies, including your emergency food and water supply, whenever you are expecting a winter storm or extreme cold. Even though we can’t always predict extreme cold in advance, weather forecasts can sometimes give you several days of notice to prepare.Bring your pets indoors.If you have pets, bring them indoors. If you cannot bring them inside, provide adequate shelter to keep them warm and make sure they have access to unfrozen water.Get your car ready. Have maintenance service on your vehicle as often as the manufacturer recommends. In addition, every fall, do the following:Have the radiator system serviced or check the antifreeze level yourself with an antifreeze tester. Add antifreeze as needed.Replace windshield-wiper fluid with a wintertime mixture.Make sure the tires on your car have adequate tread and air pressure. Replace any worn tires and fill low tires with air to the proper pressure recommended for your car (typically between 30-35 psi).Keep the gas tank near full to help avoid ice in the tank and fuel lines.Keep your car in good working order. Be sure to check the following: heater, defroster, brakes, brake fluid, ignition, emergency flashers, exhaust, oil, and battery. Winter storm. Courtesy/CDCCDC News:During extremely cold weather or winter storms, staying warm and safe can be a challenge. Winter storms can bring cold temperatures, power failures, loss of communication services, and icy roads.To keep yourself and your loved ones safe, you should know how to prepare your home and your car before a winter storm hits.According to FEMA , more than 60 percent of people do not have an emergency plan that they have discussed with their household. Here are 5 simple things you can do to start your Emergency Action Plan :Your PlanFind phone numbers for your physician, pediatrician, pharmacist, and veterinarian. Other important numbers you should know include:Poison Control Center: 800-222-1222Animal Poison Control Helpline: 888-426-4435Disaster Distress Helpline: 800-985-5990 or text TalkWithUs to 66746last_img read more

first_imgGet instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270. Subscribelast_img

first_imgTo respond to all of Andrew Hopper’s and Greg Treverton-Jones’s points about the Solicitors Regulation Authority’s prosecution policy, ‘Ticking all the boxes?’ (see [2010] Gazette, 1 April, 12), would be a major undertaking, but two key issues need addressing. First, it is simply not true that the SRA prosecutes ‘on the basis that any breach of the rules is deserving of a sanction’. On the contrary, the vast majority of rule breaches that we identify attract no formal sanction at all and are frequently addressed by using guidance and advice. Second, the SRA’s proposals for outcomes-focused regulation (OFR) – on which we are launching a debate throughout the profession from May – are indeed designed to ensure that both the SRA as the regulator and members of the profession concentrate upon issues which matter to clients rather than the minutiae of over-detailed rules. Part of OFR will be the publication of a new draft enforcement policy, on which we shall consult – I think it a safe bet that early respondents to that consultation will be messrs Treverton-Jones and Hopper. Antony Townsend, Chief executive, SRAlast_img read more

first_imgTo continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Subscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Get your free guest access  SIGN UP TODAY Subscribe now for unlimited access Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletterslast_img read more

first_imgSubscribe to Building today and you will benefit from:Unlimited access to all stories including expert analysis and comment from industry leadersOur league tables, cost models and economics dataOur online archive of over 10,000 articlesBuilding magazine digital editionsBuilding magazine print editionsPrinted/digital supplementsSubscribe now for unlimited access.View our subscription options and join our community Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.Limited access to building.co.ukBreaking industry news as it happensBreaking, daily and weekly e-newsletters Get your free guest access  SIGN UP TODAY To continue enjoying Building.co.uk, sign up for free guest accessExisting subscriber? LOGIN Subscribe now for unlimited accesslast_img read more

first_imgIn the past we did not have our own independent services in the air, ocean and distribution divisions in south and south-east Asia,” says Uwe Oemmelen, a member of the Rhenus Board. “Through the Pro-Log Group we will also obtain expertise in the third-party logistics field in Asia. As a result, we will be able to offer our customers more comprehensive services there.” Rhenus will fully take over the Pro-Log business locations in China and Hong Kong. “We will then have a much stronger Rhenus Logistics Asia-Pacific Ltd as a result,” says Uwe Oemmelen.By taking a holding in the Pro-Log Group, regional turnover for Rhenus will rise by approximately USD50 million and this sum will be generated by almost 600 employees at 19 business locations. Following this acquisition, Rhenus will have its own offices for business operations at 32 locations in Asia.The Pro-Log Group primarily operates in south and south-east Asia and has its own companies in Singapore, the Philippines, Malaysia, Thailand and India. The company has been a partner for Rhenus Freight Logistics, particularly in the air and ocean divisions, in the past. Pro-Log has been handling significant transportation volumes between Europe and south/south-east Asia for some years. This joint venture will enable Rhenus to strengthen its presence in Asia to a significant degree and will also help develop the market in this region for the Rhenus brand.Meanwhile, M+R Spedag Group has acquired and will integrate PL Shipping & Logistics Pvt Ltd of India into its group of companies. There will be no changes in the organisational structure of PL Shipping & Logistics with Ramkumar continuing as managing director and Jayaram as the chief operating officer, with Daniel Richner taking over as chairman. The company will continue to exist under the same name for the next few months and the initial period will be used for the integration of the two organisations. Rhenus says this integration will provide customers and agent partners access to an extended Asian network, enhanced IT capabilities and a wider scope of services.last_img read more

first_imgThis follows the news posted by HLPFI on December 23 that a memorandum of understanding regarding the purchase had been signed by the two parties. According to an announcement on the Singapore stock exchange, the agreement will lead to Pan Ocean being recapitalised through a debt for equity swap, with an undertaking fund of more than KRW1 trillion (USD900 million) available to repay the rehabilitation claim and renumerate the financial advisor of the company.  www.panocean.comlast_img