By Brian E. Clark
RISING
ATC
American Transmission Co. has energized the completed 220-mile,
345-kilovolt Arrowhead-Weston transmission line linking Wausau and
Duluth, Minn. The company said the line – which it bills as one of the
nation’s largest – was completed safely, ahead of schedule and within
budget.
The $439 million project was first proposed in 1999, prior to ATC’s
formation, by Wisconsin Public Service Corp. and Minnesota Power. It
faced stiff opposition from environmentalists and some property owners.
The line can carry roughly 600 to 800 megawatts of electricity, enough
to power a minimum of 250,000 homes.
“To say that this is an achievement would be an understatement,” said
José Delgado, ATC president and CEO. “In 10 years time, we have faced
public and local government opposition, delays, a reauthorization of
the cost estimate, and dozens of regulatory and legal challenges. And
yet… we have successfully completed this massive undertaking.”
MIXED
Janesville jobs
General Motors officials say they believe the company will hold onto
its market share for sales of full-size sport-utility vehicles made in
Janesville.
Mark LaNeve, GM North America vice president of vehicle sales,
acknowledged the full-size SUV segment has been shrinking. But he said
he doesn’t expect sales to decline further.
However, the company has planned a production slowdown that could
result in the layoff of more than 300 of the plant’s 2,500 workers.
That may happen in April, when the assembly line will drop from 52
vehicles per hour to 44.
General Motors shares closed Monday at $27.12, far below the 52-week
high of $43.20.
FALLING
Spectrum Brands
Spectrum Brands’ is reporting a net loss of $43.4 million, or 85 cents
a share, on $560.5 million in sales for the company’s first fiscal
quarter, October through December 2007.
That compares with a loss of $18.8 million, or 38 cents a share, on
$564.6 million in sales for the same period a year ago. The Atlanta
consumer products company’s Rayovac and Remington brands are based in
Madison.
Chief executive officer Ken Hussey said part of the problem was that
retailers began pushing holiday merchandise early, shifting about $15
million in Rayovac battery and Remington shaver and hair appliance
sales into the previous quarter.
Spectrum shares closed Monday at $3.63, far below a 52-week high of
$9.74.
