Sunday, 23 March 2014

De Niro company sells Madison Square Garden stake


A film company co-founded by Robert De Niro called Tribeca Enterprises is selling a 50 percent stake to the Madison Square Garden Company.


The deal was announced Saturday night. It combines two major New York show business players, gives Tribeca Enterprises the marketing power of a growing sports and entertainment company and offers the MSG Co. an entry into the film business.


The deal values Tribeca Enterprises at $45 million. The company was co-founded by De Niro and Jane Rosenthal, who will remain CEO.


Among the properties owned by the MSG Co. are Radio City Music Hall, the Beacon Theatre, the New York Knicks and the New York Rangers.


The company is also the presenter of the Tribeca Film Festival. The 13th festival begins April 16.



Deadline nearing to apply for property tax relief


The deadline for elderly and disabled South Dakotas to apply for property tax relief is nearing.


The state's Department of Revenue is reminding homeowners that they have until April 1 to submit an application.


Under a state program, a homeowner's property assessment can be prevented from increasing for tax purposes. Therefore, if the actual value of the home increases, the homeowner would still pay property taxes on the former value.


Individuals must meet a number of requirements to participate in the assessment freeze program. The requirements include being at least 65 years old or disabled as defined by the Social Security Act and having an income of less than $26,570 for a single-member household.


Applications can be found on the department's website. They must be submitted to the county treasurer.



Teen sci-fi franchise 'Divergent' debuts with $56M


The teen science-fiction franchise "Divergent" debuted with $56 million at the box office, one of the year's biggest openings, but one shy of some expectations.


Lionsgate's adaptation of Veronica Roth's best-selling young-adult novels, starring Shailene Woodley, didn't reach the heights of the studio's other teen franchises. "Twilight" opened with $69.6 million in 2008, and "The Hunger Games" debuted with $152.5 million in 2012.


But "Divergent" is still the second largest opening of 2014, following "The Lego Movie." A sequel is already planned.


Disney's Muppets sequel "Muppets Most Wanted" fared poorly, earning $16.5 million over the weekend. In 2011, "The Muppets" opened notably better with $29.2 million.


Last weekend's box-office leader, the animated "Mr. Peabody and Sherman," slid to third place in its third week of release with $11.7 million.



Airport may harness the sun for power


The sweeping curves and glass walls of Louis Armstrong New Orleans International Airport's planned new terminal building have defined that project since the design was released last month, but the futuristic architecture is not the only forward-looking aspect of the project.


Airport officials say they are also embarking on an ambitious plan: harnessing enough solar energy to fully power the airport, allowing it to operate independently most of the time, and especially when disaster strikes.


The solar proposal is still in its early stages but is included in the official cost projections for the $826 million airport revamp, which includes the new $650 million terminal on the north side of the property, a hotel and a new Interstate 10 flyover ramp. If it happens, it would apparently make Armstrong the only airport in the country capable of running on self-generated solar power.


"Once in place it would make us a zero-grid operation, where we're not dependent on outside generation," Director of Aviation Iftikar Ahmad said.


Initial plans call for installing enough solar panels to generate roughly 10 megawatts of power, enough to provide energy for about 1,500 homes.


A project that size would be one of the largest in the country. In fact, it could be unique in the United States, airport officials said, for even though other airports already have large solar projects, those are designed to feed electricity back into the general power grid or else to account for only a portion of the airports' power needs.


Armstrong's solar project is expected to cost roughly $85 million and would be entirely on the 2.5 square miles of airport property — and not on surrounding parcels purchased under a plan to mitigate noise complaints — though the exact size of the project, the placement of the panels and its cost are all still being reviewed, Ahmad said.


The purpose of the proposal is twofold: giving the airport an emergency power supply to get it back up and running in the wake of a disaster and reducing the millions of dollars the airport spends each year on electricity.


"During a disaster we become one of the major points of evacuation, and then during recovery we need to get the people back in, together with all the help we can to help our region to recover," Ahmad said. "It would be in the public interest to have an alternative power source so we can have terminal operations."


Solar projects have become increasingly common at airports in recent years, with some small installations coming from a Federal Aviation Administration program aimed at reducing emissions. Larger projects have typically been built by contractors who lease land at the facilities to sell power back to either the airport or the local utility company.


That's the case with both Indianapolis International Airport and Denver International Airport, the two largest airport solar projects in the country.


The Indianapolis project, started in 2012, now generates about 12.5 megawatts of electricity, with another phase planned in the near future. The project is run by private companies that lease unused airport land and sell the electricity back to the local utility, Indianapolis airport spokesman Carlo Bertolini said.


"This supports symbolically and literally the sustainability commitment that we've tried to pursue here," Bertolini said. "It's nice having it at the front door of the city, so to speak: The first thing visitors see is the solar farm."


Denver's project, which will provide 10 megawatts when a fourth phase is completed this year, is more directly tied to the airport itself. The power produced by panels scattered around the more than 50-square-mile site goes directly back to the airport, spokesman Heath Montgomery said.


While Armstrong Airport would likely still need to buy some electricity from Entergy at times of peak demand, its plan calls for it to be essentially self-sustaining, Ahmad said.


That could provide a significant savings for the airport. Last year, it spent $3.5 million on electricity, an annual cost that would be all but wiped out should the solar project come together as planned. That plays into a larger strategy the airport is pursuing with the new terminal project: cutting operating costs so it can lower fees charged to airlines and potentially lure more flights to the area.


Although power typically has been restored to Armstrong relatively quickly in the wake of hurricanes, including Hurricane Katrina, getting electricity back sometimes has taken several days. Ahmad said having an on-site source of power would allow the facility to reopen quickly in the wake of a storm.


The Kenner airport accounts for about 80 percent of all air travel in Louisiana; about 9.2 million people used it last year.


Armstrong Airport now has generators to provide power during emergencies, but they are capable of providing only enough juice to keep crucial systems running. With a solar installation, all of the airport's facilities could be operational as soon as the winds of a hurricane died down, Ahmad said.


Like the rest of the terminal, the solar panels would be designed to survive a Category 4 hurricane.


"They have specifications that can withstand those kinds of winds," Ahmad said. Debris that could damage the panels is not anticipated to be a problem since the airport's fields in Kenner are already cleared on a regular basis, he said.


Airports and solar panels have not always been an easy fit. Manchester-Boston Regional Airport, for example, ran into trouble when the 500-kilowatt solar array on its parking garage reflected glare into the eyes of air traffic controllers, the New Hampshire Union-Leader reported. Fixing that problem by repositioning the panels is expected to cost $1.9 million, according to the paper.


Glare has not been a problem with the much larger installations at Denver or Indianapolis, officials said, and the FAA provides guidance on how to position panels to avoid problems.


"Once we have the location identified and the direction of the panels and the type of material, we'll share that information with the FAA, and it will go through a review to make sure it is not interfering with operations," Ahmad said.


Airport officials are hoping to pay for the solar project with state money, though they do not have a commitment for the money in hand, Ahmad said. He stressed that the solar project can be added at any point in the construction of the new terminal and, whether or not it gets funded, the overall terminal project will continue toward its expected opening in 2018, to coincide with New Orleans' 300th anniversary.


The solar project "is something that we believe is necessary but we don't have a deadline on," he said.



Minnesota company recalls several food products


Coon Rapids-based Parkers Farm Acquisition is recalling some of its peanut butter, cheese, salsa and spreads after authorities discovered some products contained Listeria.


The Minnesota Department of Agriculture says there have been no reports of illness, but Parkers Farm Acquisition is cooperating with the investigation and has issued a voluntary recall of several products with various sell-by dates.


The products are distributed nationwide under the Parkers Farm, Parkers, Happy Farms, Central Markets, Hy-Top, Amish Classic, Say Cheez, Win Schuler, and Bucky Badger labels.


These products were sold at several stores including Hy-Vee, Cub, Rainbow, Byerly's, Lunds, Target, Whole Foods, Price Chopper, Nash Finch, Costco, ALDI, Wal-Mart, and Brookshire stores.


A full list of recalled products can be found on the Minnesota agriculture department's website: http://bit.ly/1gXQbeU .



Helen of Troy finds good fit in Olive Branch


"If you walk the circumference of the walls, it's about a mile," said Jason Kelley, general manager of the Helen of Troy distribution center in Olive Branch.


Helen of Troy, a designer, developer and marketer of household, personal care and health care and home environmental products, opened the 1.3 million-square-foot facility in September. There's still a lot of expanding going on within, however.


The company's small appliance division — which distributes things like curling irons — is moving into the space from HOT's Southaven distribution center. In April, a corner of the building will begin being used for "special projects," or building of displays for products in stores. And 300,000 square feet are left for expansion.


"We were busting at the seams at the other building," Kelley said of the Southaven site.


Helen of Troy, headquartered in El Paso, Texas, owns and operates a 1.2 million-square-foot distribution center in Southaven and also leases about 700,000 square feet in Memphis. Its brands include Revlon, Vidal Sassoon, Dr. Scholl's, Pert Plus, Brut, Hot Tools, Bed Head, Gold 'N Hot, Vicks, Braun, Honeywell and Duracraft.


Its Olive Branch distribution center shot up over the course of several months after a ground breaking only about a year ago. The facility was a $37 million investment.


Helen of Troy selected Olive Branch for its place in a favorable geographical region and the "economics of the venture."


"This area has become very attractive to major companies over the past few years with Williams-Sonoma, McKesson, Hamilton Beach and others putting down roots along Polk," said Dick Dwyer, who works in business operations for Helen of Troy and oversees the Memphis-area distributions centers.


"The demographics of the area are strong, which is important to our workforce, and we received solid support from the city of Olive Branch, DeSoto County and the state of Mississippi."


To secure Helen of Troy's new investment in Olive Branch, the state, county and city provided incentives, including tax exemptions and infrastructure improvements.


Helen of Troy averages 70 rigs a day going into or leaving the facility, but on a heavy day like a Friday, the total number can reach 100 trucks. Traffic also is generated by two shifts of workers totaling about 300 full-time and temporary employees.


Cut into the building walls are 40 receiving doors for truck deliveries and 80 doors for shipping or outbound products.


Instead of a host of motorized vehicles to get around, supervising managers use three-wheeled bicycles with carriages behind the seats.


"We can't see what we need to see," Kelley said of using motorized carts. "The bike allows you to see a lot of things and move in a productive manner."


On a recent afternoon during shift change, Kelley, who sometimes wears a pedometer, walked the entire building. As he described the operations of the distribution center, he passed stacks and stacks of products that formed towers wrapped in plastic. He passed a Honeywell air purifier, one of HOT's products, bug zappers and Vicks humidifiers.


Near the small package area, which ships 1,500 to 3,000 units a day by way of FedEx or UPS, employees filed in for the second shift. They'd do about five minutes of "stretch and flex" exercises before starting their jobs.


"Just to get your body warmed up for the work," Kelley said.



China, Netherlands sign trade pacts


China and the Netherlands signed a trade pact Sunday pledging Dutch dairy expertise to help Chinese producers boost the quality and quantity of their milk.


The deal signed at a ceremony at Prime Minister Mark Rutte's official residence in The Hague is another step by China to rehabilitate the reputation of its dairy industry in the aftermath of tainted milk product scandals.


It was part of a raft of deals and memoranda of understanding inked on the second day of a state visit by Chinese President Xi Jinping, who is in the Netherlands with a large trade delegation.


In 2008, some Chinese milk brands were found to be tainted with the chemical melamine, which can cause kidney damage and other injuries. Some suppliers added it to fool protein tests on watered-down supplies.


Imported milk products like baby formula still have a reputation for safety in China and command far higher prices than local brands.


The Dutch government said in a statement that experts will help China increase its annual milk production to 40 billion kilograms (88 billion pounds) in coming years.


After his meeting with Rutte, Xi spoke to a business conference in the seaside resort town of Noordwijk before visiting the world famous Keukenhof flower garden, where his wife Peng Liyuan christened a new strain of tulip called the Cathay.


After his state visit ends Sunday, Xi is staying in the Netherlands to take part in the two-day Nuclear Security Summit starting Monday in The Hague before travelling to France, Germany and Belgium later in the week.