Friday, March 8, 2019

business news

business news


Lincoln Industries expanding at Lincoln Airport - Lincoln Journal Star

Posted: 07 Mar 2019 08:00 PM PST

The Lincoln Airport finally has a tenant for its largest vacant building.

Lincoln Industries this week said it has opened a new tube fabrication facility in the former IAC Acoustics building in the LNK Enterprise Park.

The company had been leasing other space in the Enterprise Park for tube fabrication, and the move allows it to consolidate all the space into one facility.

The 170,000-square-foot building gives it enough space to accommodate all of its tube fabrication and bending activities, as well as allow room for future growth.

It also makes it the biggest physical expansion in the company's history.

Lincoln Industries CEO Marc LeBaron said the expansion is due to the company's growing truck business.

"We currently serve 100 percent of the over-the-road heavy-duty truck manufacturers in North America," LeBaron said in a news release. "Ten years ago, when we first entered the tube fabrication business, we were producing 1,000 tubes a week. Our current volume is 10,000 per week and will continue to grow with the increased nationwide demand for our products."

Lincoln Industries' tube fabrication capabilities are extensive. The process takes 20-foot-long steel or stainless steel tubes in diameters of four- to eight-inches and puts them through a number of operations, including cutting, bending, swedging, with a large percentage of them being nickel chrome plated.

The company, which now has 1,400 employees at locations in three states and Mexico, said approximately one-third of its 600 local employees are involved in tube fabrication in some way.

As part of the expansion, Lincoln Industries added a new tube bending machine, the largest of its kind in North America, and it plans to install another fully automated tube fabrication machine in June.

The lease officially begins April 1. It has an initial term of five years and also includes three additional five-year options, meaning the full potential duration of the lease is 20 years.

The expansion also will boost employment, with Lincoln Industries planning to add at least 50 new jobs in Lincoln.

While the move is good for Lincoln Industries, it's also good for the airport.

The building at 3901 W. Kearney St. had been mostly empty for the past three years, after IAC, which made industrial soundproofing products, collapsed less than two years after moving into the building.

The Airport Authority had to write off nearly $10 million of the $16 million it spent to build the state-of-the-art manufacturing facility.

"Lincoln Industries has been a tenant at the airport for more than the last decade," said Lincoln Airport Executive Director David Haring. "While we are obviously excited to see the largest of the airport's industrial facilities occupied after several years of vacancy, we are even more excited that such a respected and deep-rooted local company has elected to grow their operation in the LNK Enterprise Park."

Strictly Business: Business news from in and around Sonoma Valley, March 8 - Sonoma Index-Tribune

Posted: 07 Mar 2019 05:54 PM PST

Closed: La Morentita Market #2 at 17400 Highway 12 has closed and is now empty. The site has been up for lease of months. There are three markets in La Morentita's group – the first in Napa on Jefferson, and the third is at 18307 Highway 12. The two other locations remain open.

Mint and Liberty for sale: The recently closed Mint and Liberty "modern diner" in Maxwell Village is currently for sale, listed as a "newly remodeled, beautifully appointed restaurant with a fully equipped kitchen that can easily accommodate on- and off-site catering." The buyer can operate with existing name, brand and menu or implement a new concept. The price is $395,000. The restaurant is 4,500 square feet with indoor seating for 133. The current rent is $9,000/month, with seven years left on the lease. The premise is permitted with an ABC Type 47-Full On-Sale General Liquor License. The price includes furniture, fixtures and equipment and improvements. Inventory is not included in the sale and is available for purchase at wholesale cost.

Umbria for sale: Umbria, the business not the building, is listed online as being for sale for $199,000. The restaurant has been closed since November. The sale includes the restaurant name, an upgraded kitchen, the beer/wine/liquor inventory, furniture and fixtures. The interior is 3,950 square feet, a deck overlooking the creek with seating for 40, has an estimated occupancy of 40. Umbria opened in 2014. The premise is currently licensed with a Type 75 On-Sale General Brew-Pub that allows for the sale of spirits. The landlord will negotiate new lease terms with the buyer. tinyurl.com/yxunzr87.

New hire: Jason Palter of Valley of the Moon Flooring has hired native Sonoman Matt Denkin as the company's new customer service and sales associate. The showroom is located at 19449 Riverside Drive.

Deed Day: In March of 1858, Jacob Gundlach signed the deed to Rhinefarm, the property on which Gundlach Bundschu Winery sits. Charles Bundschu joined shortly thereafter. The rest is history. The winery is celebrating its 161st anniversary from 11 to 4:30 p.m. Saturday, March 9. Entertainment will be provided by Golden Gram with an afternoon live set from the Donkeys. Wine and food trucks.

Facelift: The suites along the north side of the Plaza Mercato have gotten a fresh coat of paint and new numbers. One store owner said it had been a two-year process, completed late last year.

New medical procedure: Sonoma Valley Hospital is among the first hospitals in the North Bay Area to offer Lipogems, an advanced adipose tissue technology that provides patients suffering from an orthopedic condition or injury with the means to support the healing process using their own fat tissue. Lipogems treatment, which is FDA cleared for use in orthopedic and arthroscopic surgery, is being offered at Sonoma Valley Hospital by Dr. Michael Brown, an orthopedic surgeon. According to Brown, this minimally invasive procedure can be performed in less than an hour on an outpatient basis. For more information, visit understandlipogems.com. 938-3870.

New hours: Sonoma Fun Center arcade and mini golf in Maxwell Village has new winter hours. It is open from 1 to 7 p.m. Monday and Tuesday, from 3 to 8 p.m. on Thursday and Friday, and from 10 a.m. to 8 p.m. on Saturday and Sunday.

China Promises 'All Necessary Measures' to Defend Companies - U.S. News & World Report

Posted: 07 Mar 2019 11:30 PM PST

[unable to retrieve full-text content]China Promises 'All Necessary Measures' to Defend Companies  U.S. News & World Report

China's foreign minister promises 'all necessary measures' to defend Chinese citizens and companies abroad following legal clashes between tech giant ...

Dow set to fall | Huawei sues the US | Amazon joint health venture is named - CNBC

Posted: 07 Mar 2019 04:32 AM PST

U.S. stock futures were lower this morning as investors remained focused on U.S.-China relations. The Dow and S&P 500 on Wednesday had their lowest closes since Feb. 14. The Dow, S&P 500, and Nasdaq were all down three straight sessions, and are on track to post their worst week of 2019. (CNBC)

* Cramer: Stockholders are suffering from FOBS, fear of big sellers (CNBC)

Earnings reports out this morning come from Barnes & Noble (BKS), H&R Block (HRB), and Kroger (KR), while Costco (COST), American Outdoor Brands (AOBC), Camping World (CWH), El Pollo Loco (LOCO), and Okta (OKTA) are among the companies releasing quarterly numbers after today's closing bell. (CNBC)

The Labor Department is out with its weekly report on initial jobless claims at 8:30 a.m. ET. At the same time, the government issues its revised report on fourth-quarter productivity. The European Central Bank concludes its policy meeting with an interest rate decision and policy statement at 7:45 a.m. ET. (CNBC)

Huawei is suing the U.S. over a law that bans government agencies from buying the Chinese tech giant's equipment. It claims the legislation is unconstitutional, as it goes on the front foot following months of political pressure. (CNBC)

* Huawei CFO defense will center on Trump's trade comments (CNBC)

CNBC has learned President Donald Trump had a private meeting this week with close advisors to discuss a wide range of topics, including the 2020 election — and concerns about possibly facing former Vice President Joe Biden.

The Democratic National Committee announced that Fox News will not host any of its presidential primary debates in the 2019-2020 cycle, citing an article in The New Yorker that characterized the outlet as an agent of the White House. (CNBC)

* Trump fires back at DNC (USA Today)

Trump's former personal lawyer and fixer Michael Cohen gave the House Intelligence Committee documents that reveal alleged editing to the statement he used to lie to Congress in 2017 about efforts to build a Trump Tower in Moscow. (CNBC)

* Cohen told lawyer to seek Trump pardon (WSJ)
* Trump's former campaign chief Manafort to be sentenced today for bank and tax fraud (Reuters)

Alex Trebek, longtime "Jeopardy!" host, revealed that he has been diagnosed with stage 4 pancreatic cancer. "Normally, the prognosis for this is not very encouraging, but I'm going to fight this, and I'm going to keep working," he said. (NBC News)

The Amazon (AMZN), J.P. Morgan (JPM), and Berkshire Hathaway (BRK) health-care joint venture finally has a name: Haven. Prior to the big reveal, many industry insiders referred to the venture as "ABC" or "ABJ." (CNBC)

* Health records giant Epic temporarily halts additions to its app store because of privacy concerns (CNBC)

Amazon (AMZN) will close all of its 87 pop-up locations in the U.S. in April. The company is also planning to open dozens of grocery stores and potentially thousands of Amazon Go stores, according to earlier reports. (CNBC)

* Dollar Tree to close up to 390 Family Dollar stores (CNBC)

Sears is back into court, less than one month after emerging from bankruptcy protection. The retailer was sued by Stanley Black & Decker, which accused it of breach of contract and trademark infringement. (Reuters)

American Eagle Outfitters (AEO) reported quarterly profit of 43 cents per share, beating estimates by a penny. However, the apparel retailer's revenue fell slightly short of Wall Street forecasts. American Eagle also forecast weaker-than-expected current quarter profit, as it spends more on marketing and new store openings.

Allergan (AGN) said a new treatment for depression failed in three late-stage studies, and the drugmaker added that it was deeply disappointed in the results. Billionaire hedge fund manager David Tepper has been pushing Allergan, which also makes Botox, to consider selling itself.

General Electric (GE) has hired an investment bank to explore a possible sale of its stake in a renewable energy joint venture, according to a Reuters report. GE is partners with Italy's Enel in the venture, and the stake is said to be worth more than $1 billion.

Qualcomm (QCOM) is getting some help from the Defense and Energy departments in its dispute with the FTC over smartphone royalties, according to the Wall Street Journal, supporting Qualcomm's contention that losses in a court battle could hurt its ability to compete with China's Huawei.

Apple (AAPL) has announced it's bringing 1,200 employees to a San Diego office over the next three years, growing its presence right in the backyard of its current legal rival Qualcomm.

Anheuser-Busch InBev (BUD) was downgraded to sector perform from top pick at RBC Capital Markets in a valuation call, among other factors.

Idris Elba is Warner Bros. choice to replace Will Smith as Deadshot in the "Suicide Squad" sequel, according to Variety. The original film was a massive box office success when it hit theaters in 2016, grossing $746 million worldwide.

CBD in CPG: Challenges and opportunities | 2019-03-07 - Food Business News

Posted: 07 Mar 2019 05:30 AM PST

ANAHEIM, CALIF. — Consumer curiosity is pushing hemp to new heights. Cannabidiol, or C.B.D., has skyrocketed in supplement sales in recent years and, along with mushrooms, ashwagandha and probiotics, is one of the hottest ingredients in functional food and beverage products, said Carlotta Mast, senior vice-president of content and insights at New Hope Network.

Associated with various health benefits, such as pain relief and stress reduction, hemp-derived C.B.D. is poised to explode in the consumer packaged goods marketplace. The ingredient includes a host of regulatory and formulation challenges, plus plenty of confusion among retailers and consumers.

At Natural Products Expo West, held March 5-9 in Anaheim, C.B.D. or hemp extract appeared in a vast array of food and beverage products on display, from protein bars to cold-brew coffee to wellness shots.

Weller, a Boulder, Colo.-based brand, is unveiling a range of sparkling waters with zero calories and 25 milligrams of C.B.D. from broad-spectrum hemp extract per serving. The brand also offers a water-soluble C.B.D. drink mix and a line of C.B.D.-infused coconut bites in dark chocolate, caramel and original varieties.

Weller was founded in 2017 by Matt Oscamou, who previously founded and led Frontier Snacks, and John Simmons, founder and chief executive officer of Third Street Chai.

"We found ourselves with the opportunity to start something together and really dive in and change the way consumers are getting C.B.D. and incorporating that into daily routines and diets," Mr. Oscamou told Food Business News. "We saw the opportunity to do something very different than a tincture or gel cap that has a real clinical feel to it and find ways to let people incorporate into their daily routine, whether it's a snack in your bag, after your workout or in the middle of the day, or a sparkling water beverage you can drink at any occasion."

As consumers reduce use of supplements, the opportunity for C.B.D. in food and beverage is significant, and brands are beginning to take notice, Ms. Mast said.

Weller CBD products

"We surveyed 230 natural and organic brands in January and found that most are currently not selling any hemp or C.B.D. products … but that is expected to change," Ms. Mast said during a presentation at Expo West. "Sixty-five per cent of the companies we surveyed said they expect to add a hemp or C.B.D. product to their offerings within the next one to two years. This shows a lot of the legacy companies in the industry are planning to move into this space, and there is likely to be much more activity."

Industrial hemp was legalized in the recent farm bill, but C.B.D. is not a federally approved additive for food and beverage.  This past December, the Food and Drug Administration appeared to be pursuing a pathway to legalizing the sale of C.B.D. oil and cannabis compounds in food and beverage, according to F.D.A. commissioner Scott Gottlieb, M.D. The F.D.A. prohibits companies from adding C.B.D. or T.H.C. (the compound that produces psychoactive effects) to food, drinks and supplements, and it prohibits the sale of food, supplements and other products containing C.B.D. across state lines.

Dr. Gottlieb resigned on March 5, creating uncertainty for the near future of C.B.D.

"When we started the company 16 months ago, hemp was still on the controlled substance list," Mr. Simmons said. "We are focusing on states and regions that don't have gray areas. We provide our brokers and sales team with a list of state regulations that we keep up to date.

"For example, we speak with our distributors and wholesalers week after week and are constantly updating our shared regulation list with all of our vendor partners and consumers. It's a moving target; it's an evolving category. We are incredibly optimistic the F.D.A. will find a pathway for C.B.D./hemp to make its way into food and beverage."

Siren CBD bitesAnother challenge is flavor. Hemp extract features a "very grassy taste and aroma," said Elizabeth Giannuzzi, co-founder and chief executive officer of Siren Snacks, a San Francisco-based brand of plant-based protein bites that recently added a coconut chocolate chip variety featuring full-spectrum hemp extract.

"We worked to source a very neutral-tasting hemp extract, and also crafted our recipes with bold flavors like coconut and dark chocolate, which can stand up to the earthier hemp flavor," she said. "Our biggest challenges were around sourcing and finding a reputable, high-quality supplier using organically grown hemp with a clean extraction process. Next, we had to develop a production process and testing protocol so that we could feel confident that our products are delivering an accurate and reliable dose of 5 milligrams of C.B.D. per bite. Finally, there were some regulatory hurdles around serving size."

Mr. Simmons added, "Dealing with a brand new industry and different processes from suppliers, we take the vetting of our supply and sourcing very seriously, both to ensure we have top-quality product and ingredient going into our products but also to make sure we're going to have a level of consistency, that if you taste our products two times it's going to be the same… it's not wildly different.

"That's one of the great challenges in this, is you really can't throw C.B.D. in any food and beverage product and expect the right results. You have to treat it as the unique ingredient that it is."

Nearly half of U.S. consumers are familiar with C.B.D., and 30% of those have purchased products featuring the cannabinoid, Ms. Mast said. Still, much confusion remains around its effects as well as the difference between full-spectrum hemp extract versus a C.B.D. isolate, Ms. Giannuzzi said.

"We use a full-spectrum hemp extract (containing C.B.D. and other cannabinoids), and oftentimes need to educate our customers on the many health benefits associated with full-spectrum products," she said. "There is also a lot of confusion around the recommended dose for C.B.D. Our bites have 10 milligrams C.B.D. per serving, but we've seen quite a range across different beverages and edible products containing C.B.D."

Ultimately, food and beverage products containing C.B.D. or hemp extract should still meet consumer expectations for taste, quality and consistency, Ms. Simmons said.

"There's a lot of people selling C.B.D. products, but they're all based on assumptions of what the consumer wants," he said. "I don't think anybody can predict where the category will end up, but we think consumers are going to help lead the way, and we're going to listen to them."

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