A lucrative utility-rebate program and a federal tax credit cut 45% off the cost of PV power system for one N.J. family. Here’s how:
http://www.cnbc.com/id/33233060
Archive for October, 2009
Why Solar is Starting to Make Sense in the Garden State
Atlanta Light Bulbs Promotes Brewer
Atlanta Light Bulbs. Inc. (Tucker, Ga.): Sammy Brewer was promoted to director of operations. Previously he was inventory manager and national sales manager. Brewer has been with the company for 10 years and in the lighting industry for more than 19 years, starting with Lithonia Lighting in 1990.
Zack’s Equity Research Give Electrical Biz a “Neutral” Rating
Zack’s Equity Research pegged the Electrical Industry with a middle-of-the-road “Neutral” rating, citing concerns over growth in the commercial construction market (duh!) The widely followed Wall Street investment research firm is a big believer in the AIA’s Architectural Billings Index and tracks it closely in developing its market prognostications, as you will see in today’s posting.
Vince Rego of Encore Wire dies
Vincent A. Rego, chairman emeritus of Encore Wire Corp., McKinney, Texas, died yesterday, October 7, 2009.
Rego was born and raised in Rhode Island, served in the 101st Airborne Division in World War II, including the battles at Normandy and Bastogne. He started in the wire business in 1951 in Rhode Island, then moved to Texas in 1953, where he co-founded Encore Wire in 1989, which he led until he suffered a stroke in May 2005.
“He was a giant in this industry and touched the lives of countless people over the years. To those of us at Encore Wire, he was also a dear friend and mentor,” said Encore President and Chief Executive Daniel Jones.
Cape Electrical Supply acquires Beck Electric
Cape Electrical Supply Co., Cape Girardeau, Mo., has acquired Beck Electric Co., Kennett, Mo. The transaction was completed on September 30, 2009.
Bill Beck, who opened the business in 1999, will remain involved with Cape Electrical Supply, along with his sons Darryld Beck, store manager, and Greg Beck in sales and customer service, plus grandson Kris Beck handling sales and operational duties.
Beck becomes Cape Electrical Supply’s 21st location. The company operates locations in Missouri, Illinois, Kentucky, and Tennessee.
Medical association weighs in on outdoor light pollution
The American Medical Association included a resolution advocating efforts to control light pollution and reduce glare on the agenda for its 2009 annual meeting in June.
The list of resolutions runs the gamut from medical policy issues to matters further afield, such as the tax deductability of student loan payments and human rights in Sri Lanka. The resolution regarding outdoor lighting is number 516 out of 736 resolutions considered.
In the resolution, the doctors call for all future outdoor lighting to “be of energy efficient designs to reduce waste of energy and production of greenhouse gasses” and that “all future streetlights be of a fully shielded design or similar non-glare design to improve the safety of our roadways for all, but especially vision impaired and older drivers.”
The AMA Resolutions (PDF)
Hat tip: LightNOW blog
Siemens automation unit buys Rulestream
Siemens PLM Automation, a unit of Siemens’ factory automation unit that concentrates on product lifecycle management (PLM) systems, announced that it bought the software technology and brand assets of Rulestream, a specialist in engineered-to-order processes for custom-built products.
Emerson Buys Avocent to Bolster Networking Business
Emerson Electric Co,. St. Louis, will acquire network equipment technology provider Avocent Corp., Huntsville, Ala., for about $1.2 billion in cash in a deal that will further its ability to deliver total infrastructure management solutions to its data center customers around the world. Avocent provides hardware and software for managing data centers. About half of its 2008 sales of $657 million were from outside the United States. Emerson’s electrical portfolio includes well-known brands such as Appleton, McGill, OZ/Gedney, Sola/HeviDuty,Nelson and EasyHeat.
Press release: http://ow.ly/sWOO
CSC’s Riordan Back On Acquisition Hunt in New Role at Harvest Partners
Harvest Partners, New York, has formed a formal partnership with Steve Riordan, former CEO of Communications Supply Corp. (CSC), Carol Stream, Ill., to target one or more investments in North American distribution companies.
As CSC’s CEO, Riordan and his management team grew the business organically and through several acquisitions, and then sold the business, a national distributor of network infrastructure, low voltage specialty systems and industrial wire and cable products, to WESCO International Inc., Pittsburgh in November 2006 for $525 million, generating a significant return on invested capital. CSC had been acquired by Harvest and Riordan in May 2004. Prior to the Harvest acquisition, Riordan was CEO and a director of CSC dating back to 1996. He also held senior positions at Chicago-based EESCO Inc., a leading distributor of industrial automation and control products that WESCO purchased in the 1990s.
During his 35-year career in the distribution industry, Riordan helped execute and integrate more than 35 add-on acquisitions. In a press release announcing the acquisition Riordan said, “I’m excited to renew my partnership with the Harvest team and begin a focused search for a new platform opportunity in distribution. My management experience and Harvest’s sector-focused approach should prove a strong combination for identifying attractive distribution opportunities.”
Senior executives at Harvest said they believe Riordan can help them expand in the distribution industry. “We are excited to begin the next chapter of partnership with Steve, who has been a proven executive partner for us in the past,” said Michael DeFlorio, Harvest’s senior managing director. “We look to replicate our CSC success with further investments in the distribution sector alongside Steve.”
“Our new partnership with Steve builds on our mutual prior experience in the distribution sector, and the sector investment thesis we have developed,” added Michael Cardito, principal at Harvest.” Steve’s deep management experience in distribution is a tremendous asset as we look to target and complete our next investment in the industry.”
For more information on Harvest Partners, please visit the web site at www.harvpart.com.