QUOTE OF THE DAY “We are confident about the safety of this aircraft, but we’re concerned about these
incidents and we will conduct the review until we’re completely satisfied.” Michael Huerta, FAA administrator, on the Boeing 787 Dreamliner Article, 1DWal-Mart taps chief for Latin America
Enrique Ostale, president and chief executive of Wal-Mart Chile, has been named executive vice president, president and chief executive of the company’s Latin America operations, the Bentonville-based retailer said Friday.
In his new role, effective March 1, Ostale will oversee the company’s operations in Argentina, Brazil, Chile, Costa Rica, El Salvador, Guatemala, Honduras, Mexico and Nicaragua. Ostale will be based in Wal-Mart’s Latin America regional office in Mexico City.
Eduardo Solorzano will retire as president and chief executive of Wal-Mart Latin America but will continue to serve as board chairman for Wal-Mart de Mexico.
Ostale joined D&S, the predecessor of Wal-Mart Chile, in 1989.
Gian Carlo Nucci, vice president and chief operating officer of Wal-Mart de Mexico, will replace Ostale as chief executive officer of Wal-Mart Chile. He joined Wal-Mart de Mexico in 1993 and has served in several roles including oversight of Sam’s Club operations in Mexico, vice president of the company’s VIPS restaurant chain and vice president of Superama.
- Steve Painter
Weekly rig count drops by 1 in U.S.
HOUSTON - The number of rigs actively exploring for oil and natural gas in the U.S. dropped by one for a second-consecutive week to 1,761, according to oil-field services company Baker Hughes Inc.
The Houston-based company said in its weekly report Friday that 1,323 rigs were exploring for oil and 434 for gas.
Four were listed as miscellaneous. A year ago, Baker Hughes counted 1,987 working rigs.
Of the major oil- and gas-producing states, Louisiana gained five rigs; Oklahoma increased by four; Alaska added two; and California, North Dakota, West Virginia and Wyoming each gained one rig. Meanwhile, Pennsylvania lost six rigs while Colorado and Texas each dropped two. Arkansas and New Mexico were unchanged.
The rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
- The Associated Press
Hawker retirees resist pension shift
A special committee of retired salaried workers for Hawker Beechcraft is opposing the company’s plan to allow the Pension Benefit Guaranty Corp. to take over two plans because it would “substantially reduce” members’ retirement income.
The committee filed the motion Thursday in the U.S. Bankruptcy Court for the Southern District of New York in the plane-maker’s Chapter 11 case filed in May.
A hearing to consider a proposal for Hawker Beechcraft to shed two underfunded pension plans is scheduled for next Thursday.
Wichita, Kan.-based Hawker Beechcraft has asked for approval to drop the two plans covering about 9,500 nonunion workers and retirees.
There are no union members among the roughly 170 workers at Hawker’s Little Rock completions center, where jets are finished to customer specifications.
The request is part of an agreement with the federal agency and the International Association of Machinists and Aerospace Workers.
The company is not seeking to drop the pension plan for union workers.
- Jack Weatherly
4 KFC outlets lined up for Mongolia
Yum Brands will open its first KFC restaurant in Mongolia, Asia’s fastest-growing economy, this year with conglomerate Tavan Bogd Group, the Ulan Bator-based company said.
Tavan Bogd, whose businesses include distributing Volkswagen AG cars, said it won the rights to establish KFC outlets in Mongolia, and plans to set up four this year, according to a statement on its website Friday.
The Louisville, Ky.-based restaurant chain, whose logo features the image of founder Colonel Harland Sanders, is entering the North Asian country as commodity mining and investment drive the nation’s development. Mongolia’s economy is forecast to expand 15.7 percent this year, the fastest pace in Asia, according to International Monetary Fund estimates.
The KFC outlets will be in the capital city of Ulan Bator, Ts.
Baatarsaikhan, chief executive officer of Tavan Bogd, said in the statement.
“We are conducting a market survey together with a global research company to determine the market potential and identify eating habits of Mongolians, which will outline our development road map,” he said.
- Bloomberg News
Old railroad line revived at Texas city
PALESTINE, Texas - A restored rail line and an access agreement reached with Union Pacific Railroad stands to take more business to parts of East Texas.
A Union Pacific spokesman said Thursday that the commercial carrier is ready to accommodate the historic Texas State Railroad. Raquel Espinoza says the increased access will connect Palestine businesses to markets across the country.
The Texas State Railroad on Tuesday finished testing a nearly 3-mile section of track connecting to a Union Pacific line. The railroad offers 25-mile steam train excursions for visitors and special events but seeks to expand to commercial businesses.
Backers cleared and upgraded what had been 2.8 miles of abandoned track. The last time the route was used commercially was by the Texas South Eastern Railroad in 1969.
- The Associated Press
Connection glitches hit BlackBerrys
Users of Research In Motion Ltd.’s BlackBerry smart phones were affected by connection problems Friday, according to wireless operator Vodafone Group Plc.
“We are aware that some BlackBerry customers are experiencing issues,” said Simon Gordon, a spokesman for the Newbury, U.K.-based wireless provider. “Vodafone is working closely with Research In Motion to restore full service as soon as possible.”
Gordon said he couldn’t comment yet on the geographic extent of the problem, though at least some European countries are affected. South African customers of Vodacom Group Ltd.
using the device also were affected by a connection failure, according to website mybroadband.co.za.
A Research In Motion spokesman in the U.K. declined to comment Thursday.
Research In Motion, based in Waterloo, Ontario, plans to introduce the BlackBerry 10 on Jan. 30 to compete with Apple Inc. and Samsung Electronics Co. The BlackBerry 10 lineup includes devices featuring a touch screen as well as models with regular keyboards.
- Bloomberg News
Business, Pages 24 on 01/12/2013