plus 3, Form 10-K for MCDERMOTT INTERNATIONAL INC - YAHOO! |
- Form 10-K for MCDERMOTT INTERNATIONAL INC - YAHOO!
- Perfect Circle Racecars to Sponsor CRA Super Series Rookie Award ... - Who Won
- Green businesses sprouting at closed former California Air Force bases - AF.mil
- Benson officials battle over town's first fire engine - WRAL
| Form 10-K for MCDERMOTT INTERNATIONAL INC - YAHOO! Posted: 01 Mar 2010 01:20 PM PST Item 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Statements we make in the following discussion which express a belief, expectation or intention, as well as those that are not historical fact, are forward-looking statements that are subject to risks, uncertainties and assumptions. Our actual results, performance or achievements, or industry results, could differ materially from those we express in the following discussion as a result of a variety of factors, including the risks and uncertainties we have referred to under the headings "Cautionary Statement Concerning Forward-Looking Statements" and "Risk Factors" in Items 1 and 1A of Part I of this report. GENERAL In general, our business segments are composed of capital-intensive businesses that rely on large contracts for a substantial amount of their revenues. Each of our business segments is financed on a stand-alone basis. Our debt covenants limit using the financial resources of or the movement of excess cash from one segment for the benefit of the other. For further discussion, see "Liquidity and Capital Resources" below. On December 7, 2009 we announced plans to separate our Government Operations segment and our Power Generation Systems segment into an independent publicly traded company to be named The Babcock & Wilcox Company. We plan to effect the separation through a spin-off transaction that is intended to be tax-free to our shareholders. Our board and management believe that this proposed separation of our businesses will provide the following benefits: improved positioning for each company to accelerate growth based on its distinct corporate strategy, market opportunities, free cash flow and customer relationships; more efficient allocation of capital, which will allow each company to develop an independent investment program without the constraints of a holding company, conglomerate structure; establishment of distinct publicly traded stock, which may be used as "currencies" to facilitate future acquisitions; elimination of the risk to the combined businesses posed by recent modifications to the rules under the Federal Acquisition Regulations ("FAR") that limit the U.S. Government's ability to contract with "inverted" companies and their subsidiaries; and sharpened management focus and strategic vision and closer alignment of management incentives with stockholder value creation. Before the distribution date, MII and B&W are expected to enter into a master separation agreement that will contain the key provisions relating to the separation. The master separation agreement will identify the assets to be transferred, liabilities to be assumed and contracts to be assigned either to B&W by MII or by MII to B&W in the spin-off and describe when and how these transfers, assumptions and assignments will occur. In addition, before the distribution MII and B&W or certain of their respective subsidiaries are also expected to enter into agreements to define various continuing relationships between them in various contexts. These are expected to include transition services agreements under which the parties will provide each other certain transition services on an interim basis, as well as an agreement providing for the sharing of taxes incurred before and after the distribution, various indemnification rights with respect to tax matters and restrictions to preserve the tax-free status of the distribution. In connection with the spin-off, we expect to incur one-time, non-recurring pre-tax separation costs of approximately $60 million to $80 million. These one-time costs are expected to consist of, among other things: financial, legal, tax, accounting and other advisory fees; non-income tax costs and regulatory fees incurred as part of the separation of B&W's business from us; and retention and severance costs.
Because we have concluded that the spin-off is probable, we have recorded one-time termination and severance benefits. In addition, because our severance and termination benefits are payable contingent upon eligible employees remaining with us until completion of the spin-off, we are recognizing severance and termination costs ratably over our estimated service period. As of December 31, 2009 we have accrued approximately $1.5 million in cash-based severance costs and approximately $1.8 million in stock-based severance costs. We expect that the spin-off will be effective in the second half of 2010, provided that certain conditions have been satisfied to the sole and absolute discretion of our board of directors. However, even if all of the conditions have been satisfied, we may amend, modify or abandon any and all terms of the distribution and the related transactions at any time prior to the distribution date. The conditions required to be satisfied prior to the distribution include, but are not limited to: the SEC shall have declared effective a registration statement on Form 10 relating to the spin-off, under the Exchange Act, with no stop order in effect with respect to the Form 10, and the related information statement shall have been mailed to stockholders; the actions and filings necessary under securities and blue sky laws of the states of the United States and any comparable laws under any foreign jurisdictions shall have been taken and become effective; no order, injunction, decree or regulation issued by any court or agency of competent jurisdiction or other legal restraint or prohibition preventing the consummation of the spin-off shall be in effect; B&W's common stock shall have been approved for listing on the New York Stock Exchange, subject to official notice of issuance; the private letter ruling we have requested from the Internal Revenue Service with respect to the tax treatment of the spin-off shall have been received and not revoked or modified by the Internal Revenue Service in any material respect, and we shall have received an opinion from our tax counsel regarding the tax-free status of the spin-off as of the distribution date; each of the ancillary agreements related to the spin-off shall have been entered into before the spin-off and shall not have been materially breached by any party thereto; all material government approvals and material consents necessary to consummate the spin-off shall have been received and shall continue to be in full force and effect; and no other events or developments shall have occurred that, in the judgment of our board of directors in its sole and absolute discretion, would result in the spin-off having a material adverse effect on MII or its stockholders. In addition to the spin-off transaction, we are continuing to explore growth strategies across our segments through acquisitions to expand and complement our existing businesses. As we pursue these opportunities, we expect they would be funded by cash on hand, external financing, equity or some combination thereof. It is our policy to not comment on any potential acquisition/transaction until a definitive agreement has been reached. Outlook Offshore Oil and Gas Construction We expect the backlog of our Offshore Oil and Gas Construction segment of approximately $3.4 billion at December 31, 2009 to produce revenues of approximately $2.4 billion in 2010, not including any change orders or new contracts that may be awarded during the year. The total backlog at December 31, 2009 included approximately $200 million related to contracts in or near loss positions, which are estimated to recognize future revenues with approximately zero percent gross margins on average. Our estimates of gross profit may improve based on improved productivity, decreased downtime and the successful settlement of change orders and claims with our customers.
Through this segment, we are actively bidding on and, in some cases, beginning preliminary work on projects that we expect will be awarded to us in 2010, subject to successful contract negotiations. These projects are not currently in backlog. Our liquidity position for this segment remains satisfactory, and we expect it to remain so throughout 2010. The demand for our Offshore Oil and Gas Construction segment's products and services is dependent primarily on the capital expenditures of the world's major oil and gas producing companies and foreign governments for construction of development projects in the regions in which we operate. In recent years, the worldwide demand for energy, along with high prices for oil and gas, has led to strong levels of capital expenditures by the major oil and gas companies and foreign governments. However, a slowdown in activity caused by the continuing economic downturn could reduce worldwide demand for energy and result in an extended period of lower oil and natural gas prices. Perceptions of longer-term lower oil and natural gas prices by the major oil and gas companies and foreign governments could lead these companies and governments to reduce or defer major capital expenditures, which would reduce the level of offshore construction activity. Although we have experienced few delays on existing projects to date, lower levels of activity would result in a decline in the demand for our Offshore Oil and Gas Construction segment's services. The decision-making process for oil and gas companies in making capital expenditures on offshore construction services for a development project differs depending on whether the project involves new or existing development. In the case of new development projects, the demand for offshore construction services generally follows the exploratory drilling and, in some cases, initial development drilling activities. Based on the results of these activities and evaluations of field economics, customers determine whether to install new platforms and new infrastructure, such as subsea gathering lines and pipelines. For existing development projects, demand for offshore construction services is generated by decisions to, among other things, expand development in existing fields and expand existing infrastructure. Government Operations We expect the backlog of our Government Operations segment of approximately $2.8 billion at December 31, 2009 to produce revenues of approximately $900 million in 2010, not including any change orders or new contracts that may be awarded during the year. Our liquidity position for this segment remains strong, and we expect it to remain so throughout 2010. The revenues of our Government Operations segment are largely a function of defense spending by the U.S. Government. As a supplier of major nuclear components for certain U.S. Government programs, we are a significant participant in the defense industry. With our specialized capabilities of full life-cycle management of special nuclear materials, facilities and technologies, our Government Operations segment is well-positioned to continue to participate in the continuing cleanup, operation and management of the nuclear sites and weapons complexes maintained by the DOE. In December 2009 our subsidiary Nuclear Fuel Services, Inc. which we purchased in December of 2008, implemented a suspension of some operations at its Erwin, Tennessee manufacturing facility while implementing organizational, facility and management changes to enhance safety controls and processes. These changes were developed following consultation with the NRC, as confirmed in the NRC's January 7, 2010 confirmatory action letter to Nuclear Fuel Services, Inc. Suspended operations include production operations, the commercial development line and the highly-enriched uranium down-blending facility. These operations are expected to be brought back on line following third-party review, which has been completed, and NRC review of the safety improvement implementations. Subject to these reviews we expect that the production operations and the highly-enriched uranium down-blending facility which represent a significant portion of our operations, will be back on line by the end of March 2010, and the commercial development line will be back on line by the end of January 2011. If we experience delays in bringing these facilities back on line, such delays could have a material adverse impact on our 2010 results of operations, financial position and cash flow. In addition, there can be no assurance that we will not have to suspend our operations in the future to implement additional changes to enhance our safety controls and processes in order to comply with applicable laws and regulations.
While this shut-down will impact our results in the first quarter of 2010, we do not believe the shut-down will have a material impact on our 2010 operating results. However, if we experience delays in bringing these operations back on-line, such delays could have a material adverse impact on our 2010 results of operations, financial position, and cash flow. Power Generation Systems We expect the backlog of our Power Generation Systems segment of approximately $2.0 billion at December 31, 2009 to produce revenues of approximately $970 million in 2010, not including any change orders or new contracts that may be awarded during the year. Through this segment, we are actively bidding on and, in some cases, beginning preliminary work on projects that we expect will be awarded to us in 2010 subject to successful contract negotiations. These projects are not currently reflected in backlog. Our liquidity position for this segment remains strong, and we expect it to remain so throughout 2010. Our Power Generation Systems segment's overall activity depends mainly on the capital expenditures of electric power generating companies and other steam-using industries. This segment's products and services are capital intensive. As such, customer demand is heavily affected by the variations in customers' business cycles and by the overall economies of the countries in which they operate. The current worldwide credit and economic environment, as well as short-term uncertainty regarding environmental regulations, has adversely affected the utility industry. As a result of this, bookings during 2009 were below what we had expected. While we have experienced few delays to date for existing projects, lower levels of activity would result in a decline in the demand for our Power Generation Systems segment's services. According to the International Energy Agency, consumption of electricity worldwide is expected nearly to double in the next 25 years. While we cannot predict what impact potential future legislation and regulations concerning CO2 and other emissions will have on our results of operations, it is possible such legislation could favorably impact the environmental retrofit and service businesses of our Power Generation Systems segment. On June 26, 2009 the U.S. House of Representatives passed the American Clean Energy and Security Act of 2009, H.R.2454, 111th Cong. 1st Sess. (commonly referred to as the "Waxman-Markey Bill"). This legislation would require industry in the United States to reduce emissions of greenhouse gasses by the year 2050 by 83% from a baseline level of 2005. Other countries and certain states within the United States have also passed or are considering legislation to mitigate climate change by restricting the emissions of greenhouse gasses, while the EPA has initiated a rule-making process to reduce the emission of greenhouse gasses. It is unknown at this time whether or when the Waxman-Markey Bill or any similar legislation may become law. When using fossil fuels, our boiler products typically emit carbon dioxide. Were the Waxman-Markey Bill to become law, we believe that owners of power plants would respond first by reducing utilization rates and eventually by retiring fossil-fueled boilers. Future decisions to retire boilers would impact our business in a variety of ways, including the servicing and retrofitting of operating power plants. The need to replace retired generating capacity with cleaner technologies would also create business opportunities for us. To generate energy while minimizing the emission of greenhouse gasses, we are actively researching and developing a range of products, including: non-carbon technologies, such as nuclear power plants and solar receivers for concentrating solar power plants; low-carbon technologies that enable clean use of fossil fuels, such as oxy-fuel combustion and regenerable solvent absorption technologies to scrub carbon dioxide from exhaust gasses; and carbon-neutral technologies, such as biomass-fueled boilers and gasifiers, which use a renewable resource where the growing biomass re-absorbs the carbon dioxide emitted during energy production. At this time, we cannot predict the timing or extent of additional limits on emissions of greenhouse gasses, nor their specific impacts on our business.
Other Some of our contracts contain penalty provisions that require us to pay liquidated damages if we are responsible for the failure to meet specified contractual milestone dates and the applicable customer asserts a claim under these provisions. These contracts define the conditions under which our customers may make claims against us for liquidated damages. In many cases in which we have had potential exposure for liquidated damages, such damages ultimately were not asserted by our customers. As of December 31, 2009, we have contingent liabilities for liquidated damages aggregating approximately $117 million based on our failure to meet such specified contractual milestone dates, all in our Offshore Oil and Gas Construction segment, of which $18 million has been recorded in our financial statements. We do not believe any additional amounts for these potential liquidated damages are probable of being paid by us. The trigger dates for these potential liquidated damages range from June of 2008 to September of 2009. We are in active discussions with our customers on the issues giving rise to delays in these projects, and we believe we will be successful in obtaining schedule extensions that should resolve the potential for additional liquidated damages being incurred. However, we may not achieve relief on some or all of the issues. CRITICAL ACCOUNTING POLICIES AND ESTIMATES Our financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States. Preparing financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. These estimates and assumptions are affected by management's application of accounting policies. We believe the following are our most critical accounting policies that we apply in the preparation of our financial statements. These policies require our most difficult, subjective and complex judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Contracts and Revenue Recognition. We determine the appropriate accounting method for each of our long-term contracts before work on the project begins. We generally recognize contract revenues and related costs on a percentage-of-completion method for individual contracts or combinations of contracts under the guidelines of FASB Topic Revenue Recognition. The use of this method is based on our experience and history of being able to prepare reasonably dependable estimates of the cost to complete our projects. Under this method, we recognize estimated contract revenue and resulting income based on costs incurred to date as a percentage of total estimated costs. Certain costs may be excluded from the cost-to-cost method of measuring progress, such as significant costs for materials and major third-party subcontractors, if it appears that such exclusion would result in a more meaningful measurement of actual contract progress and resulting periodic allocation of income. Total estimated costs, and resulting contract income, are affected by changes in the expected cost of materials and labor, productivity, scheduling and other factors. Additionally, external factors such as weather, customer requirements and other factors outside of our control may affect the progress and estimated cost of a project's completion and, therefore, the timing of revenue and income recognition. We routinely review estimates related to our contracts, and revisions to profitability are reflected in the quarterly and annual earnings we report. For contracts as to which we are unable to estimate the final profitability except to assure that no loss will ultimately be incurred, we recognize equal amounts of revenue and cost until the final results can be estimated more precisely. For these deferred profit recognition contracts, we recognize revenue and cost equally and only recognize gross margin when probable and reasonably estimable, which we generally determine to be when the contract is approximately 70% complete. We treat long-term construction contracts that contain such a level of risk and uncertainty that estimation of the final outcome is impractical except to assure that no loss will be incurred as deferred profit recognition contracts. Fixed-price contracts are required to be accounted for under the completed-contract method if we are unable to reasonably forecast cost to complete at start-up. For example, if we have no experience in performing the type of work on a particular project and were unable to develop reasonably dependable estimates of total costs to
complete, we would follow the completed-contract method of accounting for such projects. Our management's policy is not to enter into fixed-price contracts without an accurate estimate of cost to complete. However, it is possible that in the time between contract execution and the start of work on a project, we could lose confidence in our ability to forecast cost to complete based on intervening events, including, but not limited to, experience on similar projects, civil unrest, strikes and volatility in our expected costs. In such a situation, we would use the completed-contract method of accounting for that project. We did not enter into any contracts that we have accounted for under the completed-contract method during 2009 or 2008. For all contracts, if a current estimate of total contract cost indicates a loss on a contract, the projected loss is recognized in full when determined. Although we continually strive to improve our ability to estimate our contract costs and profitability, adjustments to overall contract costs due to unforeseen events could be significant in future periods. We recognize claims for extra work or for changes in scope of work in contract revenues, to the extent of costs incurred, when we believe collection is probable and can be reasonably estimated. We recognize income from contract change orders or claims when formally agreed with the customer. We reflect any amounts not collected as an adjustment to earnings. We regularly assess the collectibility of contract revenues and receivables from customers. Property, Plant and Equipment. We carry our property, plant and equipment at depreciated cost, reduced by provisions to recognize economic impairment when we determine impairment has occurred. Factors that impact our determination of impairment include forecasted utilization of equipment and estimates of cash flow from projects to be performed in future periods. Our estimates of cash flow may differ from actual cash flow due to, among other things, technological changes, economic conditions or changes in operating performance. Any changes in such factors may negatively affect our business segments and result in future asset impairments. Except for major marine vessels, we depreciate our property, plant and equipment using the straight-line method, over estimated economic useful lives of eight to 40 years for buildings and two to 28 years for machinery and equipment. We depreciate major marine vessels using the units-of-production method based on the utilization of each vessel. Our depreciation expense calculated under the units-of-production method may be less than, equal to or greater than depreciation expense calculated under the straight-line method in any period. The annual depreciation based on utilization of each vessel will not be less than the greater of 25% of annual straight-line depreciation and the amount needed to achieve 50% of cumulative straight-line depreciation. We expense the costs of maintenance, repairs and renewals, which do not materially prolong the useful life of an asset, as we incur them, except for drydocking costs. We recognize drydocking costs for our marine fleet as a prepaid asset when incurred and amortize the expense over the period of time between drydockings, generally three to five years. We adopted this accounting policy for our drydocking costs, commonly referred to as the deferral method, effective January 1, 2007, as more fully discussed in Note 1 to our consolidated financial statements included in this report. Investments in Unconsolidated Affiliates. We use the equity method of accounting for affiliates in which our investment ownership ranges from 20% to 50%, unless significant economic or governance considerations indicate that we are unable to exert significant influence, in which case the cost method is used. The equity method is also used for affiliates in which our investment ownership is greater than 50% but we do not have a controlling interest. Currently, all of our significant investments in affiliates that are not consolidated are recorded using the equity method. Affiliates in which our investment ownership is less than 20% and where we are unable to exert significant influence are carried at cost. Self-Insurance. We have several wholly owned insurance subsidiaries that provide employer's liability, general and automotive liability and workers' compensation insurance and, from time to time, builder's risk insurance within certain limits and marine hull insurance to our companies. We may also have business reasons
in the future to have these insurance subsidiaries accept other risks which we cannot or do not wish to transfer to outside insurance companies. Reserves related to these insurance programs are based on the facts and circumstances specific to the insurance claims, our past experience with similar claims, loss factors and the performance of the outside insurance market for the type of risk at issue. The actual outcome of insured claims could differ significantly from estimated amounts. We maintain actuarially determined accruals in our consolidated balance sheets to cover self-insurance retentions for the coverage discussed above. These accruals are based on certain assumptions developed utilizing historical data to project future losses. Loss estimates in the calculation of these accruals are adjusted as required based upon actual claim settlements and reported claims. These loss estimates and accruals recorded in our financial statements for claims have historically been reasonable in light of the actual amount of claims paid. Pension Plans and Postretirement Benefits. We estimate income or expense related to our pension and postretirement benefit plans based on actuarial assumptions, including assumptions regarding discount rates and expected returns on plan assets. We determine our discount rate based on a review of published financial data and discussions with our actuary regarding rates of return on high-quality, . . . Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Perfect Circle Racecars to Sponsor CRA Super Series Rookie Award ... - Who Won Posted: 01 Mar 2010 01:41 PM PST Monday, March 1, 2010 Perfect Circle Racecars to Sponsor CRA Super Series Rookie Award Program in 2010 by Glenn Luckett SALEM, Ind. -- Officials of the CRA Super Series, in conjunction with representatives of Perfect Circle Racecars, announced today that Perfect Circle Racecars would be the sponsor of the CRA Super Series Rookie Award Program for the upcoming 2010 race season. The 2010 Perfect Circle Racecars Rookie Award Program will consist of the Perfect Circle Racecars Rookie of the Race Award at each series point's event during the 2010 season and the Perfect Circle Racecars Rookie of the Year Award. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
| Green businesses sprouting at closed former California Air Force bases - AF.mil Posted: 01 Mar 2010 02:17 PM PST Green businesses sprouting at closed former California Air Force bases
Posted 3/1/2010
by Susan Wolbarst 3/1/2010 - SACRAMENTO, Calif. (AFNS) -- It may be counterintuitive to think of Environmental Protection Agency Superfund sites as hotbeds of green technology. But as Air Force Real Property Agency representatives -- responsible for buying, selling and managing Air Force property worldwide -- continue cleaning, restoring and transferring property to local communities, five former California Air Force bases are attracting more clean, green businesses by the day. McClellan and Mather in Sacramento, George in Victorville, Castle in Atwater, March in Riverside, and Norton in San Bernardino -- all on the EPA's National Priorities List due to pollution from former days -- house a growing number of businesses promoting environmentally-friendly practices and products. McClellan Park in Sacramento may be the green giant of the group, with numerous tenants on the leading edge of green technology. One is the 91,000-square-foot factory of ZETA Communities, manufacturers of "net-zero energy" homes, which produce as much energy as they use over the course of a year. Constructed in modules, the buildings use photovoltaic power, also known as solar power; Energy Star appliances; ultra-efficient insulation; and high-performance windows, among other features. ZETA Communities, headquartered in San Francisco, won Green Builder magazine's 2009 Home of the Year Award for a 1,540-square-foot modular home now permanently located near a Bay Area Rapid Transit station in Oakland. Workers at the McClellan Park factory can produce five modules, the equivalent of two townhouses, per day. ZETA also manufactures energy-efficient mixed-use facilities at McClellan and is planning to produce green housing and other buildings for various military bases around the U.S., according to Shilpa Sankaran, vice president of business operations and co-founder. Technicians at Fiberwood LLC, also at McClellan, operate a successful business recycling 50-100 tons of newspaper per day into a product called hydroseed mulch. Mixed with whatever seeds a contractor wants to add, as well as water and fertilizer, it's sprayed wet on highway embankments, large building sites, and sites damaged by fire to control erosion and dust. The mulch keeps the seeds wet to promote rapid germination. Fiberwood recently expanded to produce spray-on building insulation, called Kozi, also made of recycled materials, in this case denim and cardboard. "We're using totally recycled material," Stuart Douglass, president of Fiberwood said. "It's absolutely natural and healthy." The company is currently testing recycled paper animal bedding. McClellan is also the headquarters of Renewable Energy Institute International, which recently received a $20 million stimulus grant from the U.S. Department of Energy to build a biorefinery in Port of Toledo, Ohio. There, crop waste such as rice hulls will be converted into diesel fuel. Ternion Bio-Industries, based in San Jose, established a research and development facility at McClellan, where the company recently built what's believed to be the first commercial-scale bioreactor designed to use algae to reduce carbon emissions. The three-story tall reactor can grow the amount of algae produced in almost three acres of open ponds in less than 300 square feet. Future customers such as power plants and refineries will feed their CO2 emissions to the algae, which, like all plants, needs CO2 to live. SunEdison, North America's largest solar energy provider, has its Renewable Operations Center in a former airplane hangar at McClellan. SunEdison has about 80 megawatts of generation capacity under management across some 300 solar power plants. At the center, SunEdison's photovoltaic power systems are monitored, remote diagnostics are analyzed and service fleets dispatched as necessary. Beutler Heating and Air Conditioning, based at McClellan, is selling and installing Yes! Solar products made by Solar Power Inc. for residential and commercial use. Beutler officials advertise turnkey solutions for clients interested in switching to solar power. Recently, McClellan Business Park officials signed a lease with representatives of N Solar Inc. based in Seoul, South Korea, who plan to manufacture solar modules beginning in September, eventually employing 150 people at the site. N Solar's headquarters also will be housed at the 128,000-square-foot McClellan site. The company is a subsidiary of Millinet, an information technology company. Across town at Mather Commerce Center, American River College is holding classes in a former Air Force diesel equipment repair shop to teach students about clean-diesel technology. In the wake of tougher state and federal emission control standards, the certificate program trains students to repair and retrofit trucks and buses. Craig Weckman, chair of the clean-diesel technology department at ARC, said the class is so popular it has students wait-listed for admission. Also at Mather, workers at California Electronic Asset Recovery, Inc. recycle electronics such as televisions, computers, VCRs, DVDs, phones, copiers, printers, microwaves and small appliances. Some electronic devices are refurbished and sold. Those categorized as "end of life" are disassembled at CEAR, where hazardous materials such batteries, fluorescent light bulbs and mercury switches are removed and sent to other recyclers. The business prevents lead, mercury and other toxics used in electronics from entering landfills. In Victorville, at the former George Air Force Base, now known as Southern California Logistics Airport, another kind of recycling is taking place on a massive scale. The Aircraft Recycling Corporation is involved in the demolition, dismantling, salvage and scrapping of outdated or accident-damaged aircraft. "About 80-85% of an aircraft is recyclable material," said Doug Scroggins, managing director of ARC. Aircraft aluminum cannot be used to make aluminum cans or another aircraft, he said. But it can be used for auto parts, furniture, and other items. Airplane seat cushions are shredded and used as packing material. Carpeting and passenger windows also are recycled. From time to time, a cockpit is donated to a museum. "It doesn't matter where the aircraft is," Mr. Scroggins said, noting that company technicians will travel wherever there's an unwanted plane to dismantle it, pick up the material and transport it to a processor. He and his associates have gone as far as Guam to recycle aircraft. He said planes arriving in Victorville for recycling already have been stripped of hazardous materials. At the former Norton Air Force Base, now the San Bernardino International Airport, tenant Kelly Space & Technology has invented a WiseLight technology that remotely controls outdoor lighting, saving both energy and money. Officials with the city of Los Alamitos are using WiseLight on tennis courts, softball and soccer fields, according to Jason Lee, Kelly's director of operations. In some cases, it's the buildings and corporate business practices that are attracting the attention of green advocates. Also at San Bernardino International Airport, officials at Kohl's Department Stores, headquartered in Menomonee Falls, Wisc., built an enormous solar array on the rooftop of their San Bernardino Distribution Center. There, 6,208 solar panels generate 1 megawatt of power, enough to power 400 homes for a year. Kohl's officials also use solar energy for partial power at nearly half of their retail outlets. Since October, 2008, all trucks transporting Kohl's goods from the ports of Long Beach and Los Angeles are fuelled by liquefied natural gas, the cleanest burning fossil fuel. Officials at Tesco, an enormous British corporation which operates about 200 Fresh and Easy neighborhood grocery stores in the Western U.S., built their main distribution center at the former March Air Force Base in Riverside. In 2007, they installed a $13 million solar roof on their five-building, 820,400-square-foot facility. The chain also uses hybrid refrigeration trucks which can be plugged in while they're at the center, minimizing CO2 emissions and noise. Managers at each Fresh and Easy store return all display and shipping materials to the distribution center, where they are recycled or re-used. And Mark Hendrickson, director of the Merced County Department of Commerce, Aviation and Economic Development, is trying to establish a Merced County Green/Solar Technology Innovation Hub, or iHub, at the former Castle Air Force Base, now Castle Commerce Center. The idea is to create jobs capitalizing on new green technologies being researched and developed through the University of California-Merced. UC Merced's non-imaging optics laboratory at Castle engages in design, development and testing of solar concentrators for photovoltaic and solar thermal system applications. A two-acre solar test center is proposed for adjacent land at Castle. The iHUB proposal involves a partnership between the cities of Atwater, Los Banos and Livingston; Merced Community College; UC Merced; Merced County; the Greater Merced Chamber of Commerce; the UC Merced Small Business Development Center; and others "to create a culture for inventions and patents that produce marketable and sustainable applications targeting the field of energy and solar research, and to prepare a workforce for the renewable energy industry," according to a recent proposal. The area has chronic high unemployment and a poverty rate of 19.3 percent, compared to the statewide average of 12.4 percent in 2008, according to Census Bureau estimates. As closed Air Force bases around California continue transforming into vibrant corporate complexes, their ability to attract tenants exploring green technologies is unlocking tremendous potential for jobs and growth. At least one of them, McClellan Business Park, coincidentally the green giant of the group, has more people working there now than it did when McClellan Air Force Base closed in 2001. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.  This posting includes an audio/video/photo media file: Download Now |
| Benson officials battle over town's first fire engine - WRAL Posted: 01 Mar 2010 01:48 PM PST Benson, N.C. — Benson's first fire engine, dating back to 1907, has become the center of a battle between the town's fire department and a former commissioner. When the fire department had no place to store the relic, former Benson Commissioner Nathan Blackmon offered to store the horse-drawn water pumper in his showroom at Blackmon's Auto Sales on Wall Street. For the past 20 years, the truck has sat among classic Oldsmobiles, Chevys and Fords. "The town has offered to pay him (Blackmon) for storage, for housing it over the years," fire chief Alan Johnson said. Town commissioners have tried several times to get the fire engine back from Blackmon. "The only recourse we have now is to seek satisfaction through the courts," Commissioner Fred Nelson said. Blackmon had said when the renovated Benson Museum of Local History opens later this year, "he would be the one to put it" there," Johnson said. Blackmon told WRAL News on Monday that he had planned to give the fire engine to the museum, but will not be doing so anymore. He declined to comment further, noting the issue would be settled in court. An attorney for Blackmon, LaVonda Wood of Benson, said it would be improper for her to comment about the matter. Benson officials contend the fire engine belongs to the town not Blackmon. "We feel that it belongs to the town and the people in town," Nelson said. Commissioners say the engine was never deemed surplus property, so it couldn't be offered for sale. "There's no record that it was ever given or sold to anyone," Nelson said. Nelson said firefighters raised more than $1,300 to repair the truck's wheels in 2004. "They worked hard to get the funds up to be able to refurbish it," he said. Johnson said Blackmon allowed the wheels to be put on. Five Filters featured article: Chilcot Inquiry. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.  This posting includes an audio/video/photo media file: Download Now |
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