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AEP Texas announced it will expedite the rebuilding of a vital power line in the Coastal Bend area that was devastated by Hurricane Harvey. The Aransas Pass-Port Aransas Transmission Line Rebuild Project components include:Rebuilding approximately 8.1 mi. of 69-kilovolt (kV) transmission line to help ensure electric reliability as the area continues to rebuild and recover from damage sustained during the storm; replacing fallen wooden structures with single-pole steel structures that will be more capable of withstanding hurricane-force winds, and; using existing company-owned easements or public easements….
Very rarely will anyone die for a righteous person, though for a good person someone might possibly dare to die. But God demonstrates his own love for us in this: While we were still sinners, Christ died for us.
The Hyundai Construction Equipment Americas booth at World of Concrete showcased new products, new partnerships and what the company calls “the Hyundai Safety Edge.”Visitors to the exhibit (booth C7213) saw the Hyundai-exclusive all-around view monitoring system featured for the first time on one of its HL900 series wheel loaders, as well as a newly redesigned Hyundai quick coupler for its Z-bar wheel loaders….
Cat Financial reported revenues of $2.69 billion for 2017, an increase of $94 million, or 4 percent, compared with 2016. Profit was $586 million, a $202 million, or 53 percent, increase from 2016. The increase in revenues was primarily due to a $61 million favorable impact from higher average financing rates and a $48 million favorable impact from lending activity with Caterpillar, partially offset by a $29 million unfavorable impact from lower average earning assets….
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NEWARK, N.J. (AP) — New York and New Jersey announced Dec. 14 how they will pay for their share of an estimated $13 billion project to build a new rail tunnel under the Hudson River and other improvements, with New Jersey's outgoing governor outlining a plan that calls for progressively steeper fare hikes for train riders in his state during the next 20 years….
What is CONGLOMERATE? What does CONGLOMERATE mean? CONGLOMERATE meaning – CONGLOMERATE pronunciation – CONGLOMERATE definition – CONGLOMERATE explanation – How to pronounce CONGLOMERATE?
Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license.
A conglomerate is the combination of two or more corporations engaged in entirely different businesses that fall under one corporate group, usually involving a parent company and many subsidiaries. Often, a conglomerate is a multi-industry company. Conglomerates are often large and multinational.
Conglomerates were popular in the 1960s due to a combination of low interest rates and a repeating bear/bull market, which allowed the conglomerates to buy companies in leveraged buyouts, sometimes at temporarily deflated values. Famous examples from the 1960s include Ling-Temco-Vought, ITT Corporation, Litton Industries, Textron, Teledyne. Because of low interest on the loans, the overall return on investment of the conglomerate appeared to grow. Also, the conglomerate had a better ability to borrow in the money market, or capital market, than the smaller firm at their community bank.
For many years this was enough to make the company’s stock price rise, as companies were often valued largely on their return on investment. The aggressive nature of the conglomerators themselves was enough to make many investors, who saw a “powerful” and seemingly unstoppable force in business, buy their stock. High stock prices allowed them to raise more loans, based on the value of their stock, and thereby buy even more companies. This led to a chain reaction, which allowed them to grow very rapidly.
However, all of this growth was somewhat illusory and when interest rates rose to offset inflation, conglomerate profits fell. Investors noticed that the companies inside the conglomerate were growing no faster than before they were purchased, whereas the rationale for buying a company was that “synergies” would provide efficiency. By the late 1960s they were shunned by the market, and a major sell-off of their shares ensued. To keep the companies going, many conglomerates were forced to shed the industries they had recently purchased, and by the mid-1970s most had been reduced to shells. The conglomerate fad was subsequently replaced by newer ideas like focusing on a company’s core competency.
In other cases, conglomerates are formed for genuine interests of diversification rather than manipulation of paper return on investment. Companies with this orientation would only make acquisitions or start new branches in other sectors when they believed this would increase profitability or stability by sharing risks. Flush with cash during the 1980s, General Electric also moved into financing and financial services, which in 2005 accounted for about 45% of the company’s net earnings. GE formerly owned a minority interest in NBCUniversal, which owns the NBC television network and several other cable networks. In some ways GE is the opposite of the “typical” 1960s conglomerate in that the company was not highly leveraged, and when interest rates went up they were able to turn this to their advantage. It was often less expensive to lease from GE than buy new equipment using loans. United Technologies has also proven to be a successful conglomerate.
With the spread of mutual funds (especially index funds since 1976), investors could more easily obtain diversification by owning a small slice of many companies in a fund rather than owning shares in a conglomerate. Another example of a successful conglomerate is Warren Buffett’s Berkshire Hathaway, a holding company which used surplus capital from its insurance subsidiaries to invest in a variety of manufacturing and service businesses.
RC Tag Tilt trailer pulled by a Peterbuilt 8×8.
One of a kind.
It can lift/haul a heavy machine. Not enough room for any of my excavators. But that is ok. A couple of my excavators weigh about 80 LBS. Ouch!! Not many RC trailers will haul those heavy machines.
Anyway, this trailer is Awesome!
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DETROIT (AP) Mercedes-Benz said it will spend $1 billion to expand its Alabama facilities and start production of a new line of fully electric SUVs. The company plans to build a new battery plant near its existing assembly plant in Tuscaloosa, Ala. Construction of the 1 million sq.-ft. battery plant will begin next year….
JLG Industries Inc. is equipping its customers with a variety of new resources to help them better understand and comply with the anticipated changes to the American National Standards Institute (ANSI) and the Canadian Standards Association (CSA). ANSI A92 and CSA B354 standards govern the access equipment industry and address machine design, safe use and training in North America….