Business news in brief

In this Aug. 6, 2017, file photo, demonstrators against the Keystone XL pipeline march in Lincoln, Neb. Civil liberties advocates have sued the U.S government alleging law enforcement agencies are maneuvering to crack down on anticipated protests over the Keystone XL oil pipeline.  (AP Photo/Nati Harnik, file)
In this Aug. 6, 2017, file photo, demonstrators against the Keystone XL pipeline march in Lincoln, Neb. Civil liberties advocates have sued the U.S government alleging law enforcement agencies are maneuvering to crack down on anticipated protests over the Keystone XL oil pipeline. (AP Photo/Nati Harnik, file)

550 P.A.M. trucks get fuel-saving gear

P.A.M. Transportation Services Inc. has agreed to add new fuel-saving technology to 550 trucks in its fleet after nearly a year of successful tests that were based on a hunch from higher-ups.

After receiving a demonstration truck with an attachment from Texas-based FlowBelow Aero Inc., Paul Pettit, vice president of maintenance at P.A.M. Transport, noticed that the "system performed extremely well and piqued our interest," he said in a news release.

Following some tests, P.A.M. agreed to add the FlowBelow kits to 550 Peterbilt 579 trucks.

The Tontitown-based transportation group began testing the fuel efficiency product on a handful of vehicles in its fleet last year, then followed up with a larger 200-truck test, where half had the product installed and the other half didn't. According to the release from FlowBelow, results show the 100 trucks with the freight attachment saved P.A.M. an average 2.2 percent in fuel costs compared with the control group's results.

The technology, FlowBelow Tractor AeroKit, uses attachments to adjust airflow around the rear tires of a tractor for minimum wind-resistance, according to the aerodynamics firm.

-- Nathan Owens

Construction spending up slightly in July

WASHINGTON -- Spending on U.S. construction projects ticked up 0.1 percent in July, led by an increase in home building and the publicly funded building of schools and highways.

The Commerce Department said Tuesday that the slight July increase brought total construction spending to a seasonally-adjusted annual rate of $1.32 trillion, 5.8 percent higher than a year ago.

Nonresidential construction -- offices, stores, factories and other buildings -- tumbled 0.3 percent in July. Some of that decline was offset by a 0.6 percent gain in home building.

Public construction rose 0.7 percent in July, including a 2.1 percent jump in the building of schools and a 0.4 percent advance in constructing highways and streets.

Construction spending growth helps to support the broader expansion of the U.S. economy. The buildings not only create jobs for carpenters, welders, roofers, bricklayers, engineers and architects, but they also provide housing and workspace that contribute to additional hiring in sectors outside of the construction industry.

The U.S. economy expanded at a brisk 4.2 percent annual pace in the second quarter, nearly doubling the growth rate for gross domestic product during the first three months of the year. The private construction component of GDP rose 2.1 percent during the first quarter.

-- The Associated Press

Lockheed sweetens F-16 deal for India

Lockheed Martin Corp. said it will make wings for its F-16 warplane in India as the U.S. defense giant seeks to win the world's largest fighter jet contract from the South Asian nation.

Lockheed will manufacture wings for all global F-16 customers at a facility in India in partnership with India's Tata Advanced Systems Ltd., the Fort Worth-based company said in a statement. The jointly-managed facility will be based in Hyderabad and would form part of a planned F-16 manufacturing facility if India selects Lockheed's jet for an outstanding 110-aircraft contract, company Vice-President Vivek Lall said in New Delhi.

The U.S. defense firm, which is vying for a $15 billion warplane contract alongside Boeing Co. and Saab AB, had previously pledged to move the F-16 production line to India if Lockheed's jet is picked by the Indian government.

The decision comes days ahead of a visit to India by U.S. Secretary of Defense James Mattis and Secretary of State Mike Pompeo, who are scheduled to meet Indian Defense Minister Nirmala Sitharaman and Foreign Minister Sushma Swaraj.

The decision to shift wing production will not affect U.S. jobs, Lall said.

-- Bloomberg News

Farmers seek OK to trash cranberries

BOSTON -- Cranberry farmers have asked the federal government for permission to destroy a quarter of their crop in response to a glut that has kept prices low and growers operating in the red.

The Boston Globe reports that after struggling with an oversupply of the berries for nearly two decades, growers around the country are asking the U.S. Department of Agriculture for authorization to sell 75 percent of the supply and discard the rest.

If the government approves their request, farmers would hold back roughly 100 million pounds of cranberries.

Jack Angley is owner of Flax Pond Farms in Carver. He says overproduction means "we're not getting much money for our crops."

The USDA estimates the cost to produce a barrel of cranberries is $35, but the average price last year was $31.50.

Bears a tourist draw for Alaska village

JUNEAU, Alaska -- A tiny Alaska village has experienced a boom in tourism in recent years as polar bears spend more time on land than on diminishing Arctic sea ice.

More than 2,000 people visited the northern Alaska village of Kaktovik on the Beaufort Sea last year to see polar bears in the wild, Alaska's Energy Desk reported Monday.

The village had less than 50 visitors annually before 2011, said Jennifer Reed, of the Arctic National Wildlife Refuge.

"Today we're talking about hundreds and hundreds of visitors, many from around the world each year," Reed said.

Polar bears have always been a common sight on sea ice near Kaktovik, but residents started noticing a change in the mid-1990s. More bears seemed to stay on land, and researchers began taking note of more female bears making dens in the snow on land instead of on the ice.

U.S. Fish and Wildlife Service biologists began hearing reports of increasing numbers of polar bears in the area in the early 2000s, Reed said. As more attention was given to the plight of polar bears about a decade ago, more tourists started heading to Kaktovik.

-- The Associated Press

U.S. to hit pipeline protest, suit says

BILLINGS, Mont. -- Civil-liberties advocates sued the U.S. government Tuesday, alleging law enforcement agencies have been making preparations to crack down on anticipated protests over the Keystone XL oil pipeline.

Attorneys for the American Civil Liberties Union and its Montana affiliate filed the lawsuit in U.S. District Court in Missoula against the Defense, Homeland Security, Interior and Justice departments.

They asked the court to order the release of all documents about cooperation over the pipeline between federal, state and local law enforcement and private security companies.

The groups cited confrontations between law enforcement and protesters, including many American Indians, that turned violent during construction of another crude oil project, the Dakota Access Pipeline through South Dakota. Planning appears to be underway for a similar response to protesters against Keystone XL, Montana ACLU attorney Alex Rate said, citing documents obtained through public records requests submitted to state and local agencies.

The pipeline would transport up to 830,000 barrels of crude oil daily from Canada through Montana and South Dakota to Nebraska.

-- The Associated Press

Business on 09/05/2018

Upcoming Events