We review Costco’s fourth quarter and full year results and the challenges it is seeing with higher costs, shipping capacity and labour shortages.
Fourth quarter and full year key numbers
Q4 total revenue up 14.8% to $62.7bn, with full year revenue up 17.5% to $196.0bn
Comparable sales…
BOSTON (AP) — Officials from companies with fleets of trucks are urging governors across the country to embrace a rule meant to speed the adoption of zero-emission trucks and reduce a potent source of greenhouse gases spewed from the large commercial vehicles.
In a letter released Friday, representatives of companies including IKEA, Nestle, Siemens, Etsy, eBay, Ben & Jerry’s and Unilever joined with environmental activists and investors to call for the wide adoption of the Advanced Clean Trucks rule. Transportation is a leading cause of greenhouse gas emissions in the U.S., with trucks being one of the top culprits, activists said.
The rule requires manufacturers of medium- and heavy-duty vehicles to increase sales of zero-emission models over time in states where the policy is put in place. As production ramps up, the cost to manufacturers and buyers should come down, advocates said.
Supporters of the rule say companies increasingly are demanding clean trucks and vans to help meet climate and pollution goals and to save on the costs of fuel and maintenance. Approval of the rule by state governments could help give an added nudge to truck makers, backers said.
“The ACT rule will help bring down costs for zero-emission medium- and heavy-duty vehicles by requiring manufacturers to increase model availability to meet the needs of fleet operators and driving investment in clean transportation research and development,” the companies and advocacy groups said in the letter.
“This will enable cost-effective electrification of commercial vehicles at the pace and scale needed to meet climate and air quality goals,” they added.
The switch to zero-emission trucks also will help reduce pollution in lower-income neighborhoods, many of which border highways, major roads and shipping centers, and where residents often have health problems like asthma, advocates said.
The rule has already been adopted in California and is being considered in several other states, including Oregon, Washington, New Jersey, Massachusetts, New York and Colorado.
“Medium- and heavy-duty vehicles are an essential part of the logistics networks that millions of Etsy sellers rely upon to deliver items to their buyers around the world, but these vehicles contribute disproportionately to air pollution and global warming emissions,” Chelsey Evans, senior manager of sustainability for Etsy, said in a statement. “Widespread adoption of zero-emission vehicles, including through the Advanced Clean Trucks Rule, is key to combating climate change.”
The letter was organized by the nonprofit group Ceres.
States have begun to acknowledge the pollution linked to cars and trucks and its effect on the climate.
The governors of three New England states and the mayor of Washington last year signed a regional pact aimed at dramatically reducing transportation pollution, an agreement they hope other states will eventually join.
The Transportation and Climate Initiative Program is designed to reduce motor vehicle emissions by at least 26% by 2032 by requiring large gasoline and diesel fuel suppliers to purchase “allowances” for the pollution caused by the use of the fuels they sell in the region. Opponents say that could drive up gas prices.
In New England, transportation is responsible for over 40% of greenhouse gas emissions.
CASSELTON, NORTH DAKOTA, US — A large, multi-national company that is a joint venture between two agricultural-related groups is eying construction of a $400 million soy crushing plant in Casselton that would purchase an estimated 45 million bushels of soybeans annually, according to KFGO, a broadcast radio station in North Dakota.
While no plans have been finalized, KFGO cited Josh Teigen, director of the North Dakota Department of Commerce Economic Development and Finance Division, who said the location of a potential plant would be a mile west of Casselton, just east of the Tharaldson Ethanol Plant. A purchase agreement is in place, and Teigen has been working with the company for about a month, KFGO said.
The name of the company involved in the project has not been disclosed.
KFGO said the project could be contingent on infrastructure, noting that any potential site would need help from the state to pay for a hard surface. The existing township road is now gravel.
If approved, the expansion in Casselton would add to the list of major soybean crushing plant projects announced in recent months. Earlier this month, newly-formed Platinum Crush, LLC announced it is planning to invest $350 million to build a new soybean crushing plant in Buena Vista County near Alta, Iowa, US.
The new facility is expected to be able to crush 38.5 million bushels of soybeans per year, or about 110,000 bushels per day.
In May, Archer Daniels Midland announced it will build North Dakota’s first-ever dedicated soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including producers of renewable diesel. Based in Spiritwood, North Dakota, US, the approximately $350 million crush and refining complex will feature state-of-the-art automation technology and have the capacity to process 150,000 bushels of soybeans per day.
Health Management Associates (HMA), an independent national research and consulting firm based in Lansing, has acquired Wilson Strategic, a company that operates State of Reform health policy conferences, announced Jay Rosen, HMA founder, president and co-chairman.
Founded in 2010, the company based in Lynwood, Wash., north of Seattle, has the goal of bridging the gap between health care and health policy. State of Reform serves as a neutral convener, bringing together diverse stakeholders across the health care and policy spectrum at local and regional events. DJ Wilson founded State of Reform and will continue to serve as co-leader with Karianna Wilson.
“As a neutral party, State of Reform has proven to be a successful vehicle for bringing local, regional and state healthcare and policy decision makers to the table, facilitating honest, open, and important conversations,” says Rosen.
“These types of exchanges foster the trust and fuel the ingenuity required to solve complex problems and achieve common goals that will ultimately benefit us all. We look forward to supporting State of Reform’s mission to bridge the gap between healthcare and health policy.”
The company currently convenes over 8,000 event attendees a year and publishes more than 3,000 independent stories, analyses, and other informational items about state level health care a year. Wilson Strategic will operate as State of Reform. Terms of the transaction were not disclosed.
“With State of Reform we have created safe spaces for diverse stakeholders to build relationships, have difficult but constructive conversations, and ignite the innovations that will transform challenges into success stories – something our country needs now more than ever,” says Wilson.
“Joining with HMA and Leavitt Partners, which became part of HMA earlier this year, helps us expand our footprint across the country while maintaining our independence and unwavering commitment to serving as an objective facilitator for the worlds of medicine and policy to come together in meaningful ways.”
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Press Release | Boston Globe Media Group
The Boston Globe announced today the launch of “Black News Hour,” a new one-hour radio show that will bring local Black stories and historical moments to the forefront of conversations.
Created in partnership with Boston Black News (BBN), Boston’s first and only faith-based, Black-owned, FCC licensed FM station and multimedia network, “Black News Hour” will develop a space for Boston’s Black community to engage and connect with Globe journalists, deepening connections and building stronger relationships between the community and local media.
“At the Globe, we understand the importance and crucial role that Black press has played in reporting the hardships and achievements of Boston’s Black community,” said Peggy Byrd, chief marketing officer at Boston Globe Media. “Collaborating with BBN is a vital part of ensuring that we are supporting independent Black media outlets and highlighting the multitude of stories existing in the Black community.”
“We created Boston Black News to provide a more nuanced portrait of the lives of the Boston Black community to counteract the predominately negative or otherwise bigoted stories of our community reported by mainstream media,” said Pastor Bruce Wall, founder of Boston Black News and Black Praise Radio & TV. “We are very excited that The Boston Globe is joining our ever-expanding roster of news and information programming available for every listener in metro Boston.”
Monthly episodes will air on Fridays from 8-9 a.m. ET on WBPG-LP 102.9 with video streaming at www.bostonblacknews.com and www.bostonpraiseradiotv.co.
The debut show aired on Sept. 24 at 8 a.m. ET and was hosted by Boston Globe reporter, Meghan Irons, and culture columnist, Jeneé Osterheldt. Boston mayoral candidates, Boston City Councilors At-Large, Annissa Essaibi-George and Michelle Wu will join for live interviews during the broadcast. For more information, visit globe.com/bnh.
| [September 24, 2021] |  |
Backblaze, Inc., a leading storage cloud company serving nearly 500,000 customers across 175+ countries, announced the appointment of Evelyn D’An and Earl E. Fry to its Board of Directors.
“Having Evelyn and Earl join our Board of Directors is very exciting. Not only do they bring invaluable financial expertise and extensive leadership experience-they also share an appreciation for our culture and values,” said Gleb Budman, Backblaze CEO and Chairman of the Board. “Their service on the board will aid us as we continue to position our business for the road ahead.”
Evelyn D’An is an experienced board director and financial leader with extensive corporate governance, financial oversight, and accounting experience with a range of technology companies. D’An currently serves as a member of the board of directors of Summer Infant, Inc. and is a former partner of Ernst & Young, where she spent 18 years serving clients in retail, consumer products, technology, and other sectors. She will serve as Chair of the Audit Committee and will alsoserve on other committees in her role at Backblaze.
Earl E. Fry has cultivated wide-ranging financial, accounting, and audit oversight experience as well as substantial operational and strategic insight into software and cloud businesses through a number of board and leadership roles. Fry serves as a member of the board of directors of Hawaiian Airlines, including as chair of their Audit and Finance Committee. Previously, Fry was chief financial officer, chief administrative officer, chief customer officer, and executive vice president, operations strategy at Informatica Corporation. He also serves on the board of Central Pacific Financial Corp. and previously served on the board of Xactly (News – Alert) Corporation. Fry will serve on the Audit Committee as well as other committees in his role at Backblaze.
About Backblaze
Backblaze makes managing data astonishingly easy for businesses and consumers. The Backblaze Storage Cloud provides a foundation for businesses, developers, IT professionals, and individuals to store, back up and archive data, host content, manage media, build their applications, and more. With more than an exabyte of data under management, the company currently works with nearly 500,000 customers in over 175 countries. Founded in 2007, the company is based in San Mateo, CA (News – Alert). For more information, please go to www.backblaze.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210924005025/en/
Restaurant brands with multiple locations face a myriad of challenges in building brand awareness and attracting customers. When each franchise location has a separate operator, often with limited marketing experience, these complexities can potentially compromise brand integrity. As you work to add new locations, you should revolutionize the marketing strategy and operations in your organization with a comprehensive understanding of these issues and the available solutions. The UMI SNAP platform provides solutions to these challenges and a ton of other capabilities designed to provide a seamless user experience – more value without increasing marketing spend.
The Gaiety has announced this year’s panto as The Little Mermaid, kicking off on November 28 2021 and running until January 9 2022.
With tickets going on sale this coming Thursday, September 30 at 9am, expect to take a deep dive under the sea for an enchanting family-friendly journey through the oceans with Ariel consisting of singing, dancing and a bundle of laughs.
For many Dubs, a panto is a must-do Christmas tradition. After a tough year of closure, 2021 sees the Gaiety Theatre celebrating its 150th on the Dublin Theatre scene. Having opened its doors for the very first time on November 27 1871, the impressive anniversary coincides with the panto.
Much like the beloved Disney movie, this year’s Gaiety panto The Little Mermaid follows mermaid Arial who dreams of a life on land and gets help from the scheming sea witch Ursula whose goal is to steal her voice.
The Gaiety Theatre has hosted the annual Christmas Panto since 1873 and for many who grew up in the city, it’s a Christmas tradition that defines their childhood.
Tickets start from €19.50 including booking fee and will be on sale through Ticketmaster. All original tickets purchased for The Little Mermaid 2020 dates remain valid for the new dates.
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Iodine and specialty chemicals specialist Iofina reported “record” first half results on Friday, with revenue ahead 27% at $19.9m.
The AIM-traded firm said gross profit was up 10% year-on-year for the six months ended 30 June, to $5.4m, while EBITDA grew 18% to $3.5m and operating profit increased 22% to $2.6m.
Its United States Paycheck Protection Program (PPP) loans, totalling $1.1m, were forgiven in the period, as profit both before and after tax improved by 164% to $3.5m.
Basic and diluted profits per share came in at 1.8 cents, rising from 0.7 cents at the interim point of 2020.
Net debt was further reduced, narrowing by 27% to $7.2m, while interest charges fell by 70% to $0.2m.
Iofina said it was “well-placed” to finance its ongoing operational investment programme.
On the production front, the company met its revised production target of 249.4 MT during the first half, after an extreme weather impact and reduced brine supply at two of its plants.
Second half production was on track to meet the 260 to 275 MT target, as the form remained in negotiations with “targeted partners” to build and operate IO#9, with additional expansion efforts beyond that project also being evaluated.
“The group has delivered an excellent performance in the first half,” said company president and chief executive officer Tom Becker.
“Recoveries are underway in our customer markets and with this we expect the demand for iodine and its end-use products to continue to improve.
“Despite the first half iodine production being impacted by extreme winter weather and lower brine supply from our oil and gas partners, importantly we have had sufficient production and reserves to take advantage of demand.”
Becker said the company’s chemicals division continued to “excel” with its product range and capabilities, describing it as a “vital driver” of group sales and earnings.
“On the current trajectory, we are confident of producing 260 to 275 MT of crystalline iodine in the second half, and anticipate IO#9 construction to begin before year-end.
“With debt further reduced we are in an excellent position to invest in our operations and continue to implement our growth strategy,” Tom Becker explained.
“The US government’s small business loans of $1.1m were also forgiven in the period, further strengthening the company’s balance sheet.”
As Iofina executeed its growth plans and iodine prices increased further, Becker said Iofina would be “well-positioned” for success in the future, and to deliver shareholder value.
At 1059 BST, shares in Iofina were up 2.43% at 16.39p.
