http://haviland.mightyinthemidwest.com/index.php en johnb@havilandusa.com Copyright 2010 2010-09-06T23:55:34-05:00 http://www.havilandusa.com/index.php/news/from-detroit-a-fix-for-smog-belching-motorcycles/ http://www.havilandusa.com/index.php/news/from-detroit-a-fix-for-smog-belching-motorcycles/#When:23:55:34Z Riding a lawn tractor for just an hour spits out as much pollution you’d get from driving a car for hundreds of miles, according to former Ford Motor Co. engineer Kyle Schwulst. “It’s something that people don’t realize, but the traditional automobile has come a long way in becoming much cleaner than smaller engines,” Schwulst says. “So much attention has been paid to automotive engines, but the smaller ones are much more harmful to the environment.” That’s why Schwulst, 30, founded ElectroJet, a 10-person company that develops electronic fuel injection systems for small engines. For the non-gearheads out there: Fuel injection systems regulate the mix of fuel and air that goes into internal combustion engines. They make engines more efficient and less polluting. For that reason, fuel injectors replaced carburetors in most trucks and automobiles by the end of the 1980s. But most small-engine vehicles still use carburetors. That’s why they emit so much pollution. In 2003, Schwulst launched ElectroJet in Brighton, Mich., a distant suburb of Detroit. Now, seven years later, he is going global. In June, Schwulst signed a partnership agreement with Magneti Marelli, a multibillion-dollar Italian manufacturer of high-tech auto components. The two companies have teamed up to develop an electronic fuel-injection system for the world’s two largest motorcycle markets: India and China. Together, those nations build more than 40 million new motorcycles — equivalent to 75% of the global total — each year. New rules limiting motorcycle emissions took effect in China this July. In India, similar regulations are expected to go into effect next year. Both policies closely resemble restrictions that are currently in place throughout much of Europe. Asia’s potential market is vast. “If we look at 40 million vehicles needing our product worldwide each year, with an average sale price around $50 each, that is a $2 billion market,” Schwulst explains. But courting an Asian audience comes with challenges. The biggest? Keeping down costs. A new motorcycle in China typically costs $600 or more — roughly equivalent to an average citizen’s annual wages. Any feature that even slightly increases the price will hurt sales in the Chinese market.. For that reason, ElectroJet’s new devices will mimic the size and shape of carburetors in existing motorcycle designs, allowing them to be swapped into production with minimal disruption. Within the U.S., ElectroJet has been successfully convincing investors it has what it takes to grow. The company has raised about $2.6 million in outside capital. Of that money, the state of Michigan kicked in $1 million in loans and investments; the rest came from private investors, Schwulst says. ElectroJet’s longstanding clients say the company’s products are well-designed and flexible, which bodes well for their adoption on a global scale. One of those clients, Sonex Research, is a company in Annapolis, Md., that designs engine combustion chambers for military drones and other specialized vehicles. Sonex uses ElectroJet products to control fuel delivery. Schwulst and his team designed ElectroJet’s fuel injection systems to work with the four-stroke engines traditionally used in automotive applications. But Sonex engineers have found ways to pair them with the military’s preferred two-stroke engines, which typically run on heavy, kerosene-based fuels. “That’s nothing short of amazing,” Pouring says, referring to the fuel injectors’ flexibility. “It really speaks to the superior design used to create the fuel injection systems. That really is why the company has such a bright future.” Schwulst agrees. Now, thanks to “the partnership with Magneti Marelli, one of the largest suppliers in the market, we have the resources to deliver,” he says. “It’s a game-changer for us.” Surface Finishing, Industrial, Water Treatment 2010-09-06T23:55:34-05:00 http://www.havilandusa.com/index.php/news/stocks-start-september-with-a-bang/ http://www.havilandusa.com/index.php/news/stocks-start-september-with-a-bang/#When:19:59:36Z The Dow Jones industrial average (INDU) surged 222 points, or 2.2%, with about 1-1/2 hours left in the session. The S&P 500 (SPX) soared 27 points, or 2.5%. The Nasdaq (COMP) composite rallied 53 points, or 2.5%. diggEmail Print CommentShares of industrial names and companies in the materials sector led the charge. Caterpillar (CAT, Fortune 500), United Technologies (UTX, Fortune 500), Boeing (BA, Fortune 500) all gained between 1% and 3%. Energy producers Exxon (XOM, Fortune 500) and Chevron (CVX, Fortune 500) also rose as oil prices spiked 3%. But the rally was broad-based. Six stocks gained for every one that fell on the New York Stock Exchange. Stocks rallied right out of the gate as investors cheered a report showing a rebound in China manufacturing. Stronger-than-expected economic growth in Australia also helped fuel optimism about the global economy. The buying really kicked into high gear following an unexpectedly strong report on U.S. manufacturing activity. “This market is looking for something to grab on to,” said Mark Luschini, chief investment strategist for Janney Montgomery Scott. “And for the moment it’s manufacturing.” Investors have been nervous about the outlook for the U.S. economy, as the nation’s growth has slowed. The upbeat manufacturing report overshadowed dour news on the employment front. There has been a “bull market on negative sentiment,” Luschini said, adding that the ISM report “shocked” investors into reconsidering the bleak outlook many have for economic growth going forward. Wednesday’s advance came after stocks ended the previous session relatively unchanged, closing out a lackluster August. Stocks typically start September strong, but often end on a weak note due to end-of-the-quarter movements by mutual funds. Economy: The Institute for Supply Management’s (ISM) said its index of manufacturing activity rose to 56.3 in August. Economists were expecting the index to edge lower. Any number above 50 indicates growth in the sector. Meanwhile, payroll processing firm ADP reported that employers cut 10,000 jobs in August. Economists were expecting private sector employers to add 13,000 jobs during the month, after adding 37,000 in July. The ADP report is widely used as a leading indicator ahead of Friday’s job report from the Labor Department but “the financial markets have decided to ignore the negative news,” said Paul Ashworth, an economist at Capital Economics, in a research report. Separately, planned job cuts plummeted to a 10-year low in August, as employers shed 34,768, down 17% from the previous month, according to outplacement firm Challenger, Gray & Christmas. The reports come two days before the government’s monthly report on jobs and unemployment. Economist expect the government to report that the economy lost 120,000 jobs in August, after employers cut payrolls by 131,000 in July. The unemployment rate is expected to edge up to 9.6% from 9.5%. Other reports on Wednesday included construction spending, which fell 1% in July, versus a forecasted 0.7% decline. Companies: General Motors and Ford Motor (F, Fortune 500) both reported disappointing sales Wednesday, kicking off what is expected to be the worst August for industrywide auto sales in 27 years. The drop in auto sales is partly a result of tough comparisons to the Cash for Clunkers program of last summer. Toyota ™ and Chrysler are expected to report sales figures later in the day. Shares of Burger King Holdings (BKC) jumped 14%, following a report that the fast food chain is considering a possible sale to buyout firms. The Wall Street Journal reported that that private equity firms that have expressed interest in buying Burger King include Britain’s 3G Capital Group. Apple’s (AAPL, Fortune 500) stock was up 3% as the company held its annual music-themed special event. CEO Steve Jobs is expected to unveil its newest iPods and advances in the iTunes music store. Shares of BP (BP) climbed 3.2% as the oil giant said it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to government-owned Petronas for $363 million in cash. World markets: European shares rose in afternoon trading. The FTSE 100 in Britain jumped 2.7%, the CAC 40 in France added 3.8% and the DAX in Germany gained 2.1%. China manufacturing could help avoid ‘hard landing’ In Asia, Japan’s benchmark Nikkei index gained nearly 1.2%, rebounding after hitting a 16-month low on Tuesday, and the Hang Seng in Hong Kong rose 0.4%. the Shanghai Composite fell 0.6%, despite a report that showed China’s manufacturing sector bounced back in August after several months of slowing. Currencies and commodities: The dollar fell against the euro and the British pound, but rose versus the Japanese yen. Currency trading volume around the world has hit $4 trillion a day, a 20% jump compared to 2007, said the Bank of International Settlement. Oil futures for October delivery rose $2.39 to $74.31 a barrel. Gold for December delivery fell $1.30 to $1,249 an ounce. Bonds: The yield on the 10-year Treasury note rose to 2.58% from 2.48% late Tuesday. 2010-09-01T19:59:36-05:00 http://www.havilandusa.com/index.php/news/leslies-poolmart-placed-up-for-sale/ http://www.havilandusa.com/index.php/news/leslies-poolmart-placed-up-for-sale/#When:12:08:05Z Private equity firm Leonard Green & Partners reportedly is asking for more than $1 billion for Leslie’s Poolmart, which operates 640 stores in 35 states. Interested buyers include Bain Capital, Madison Dearborn Partners and TPG. Goldman Sachs will manage the sales process. In the past fiscal year, Leslie’s posted annual sales of $510 million, generating about $110 million in net earnings. Published reports also indicate that the company holds approximately $250 million in debt. Firm-to-firm sales, known as “secondary buyouts,” have long been popular in the financial industry, but are rare in the pool and spa market, particularly among retailers. Brian Quint, president of Aqua Quip in Seattle, said that a change in private-equity ownership could mean more new advisers will work with the leadership staff at Leslie’s, which could bring fresh thinking to the pool industry. “I think it’s good news that there’s outside capital looking to invest in our industry,” Quint said. “It’s good to get new sources of finance, new investment advisors, new strategies.” A sale — depending on the price — could be seen as a positive for the pool industry. “It may imply that we’ve hit rock bottom, and now we’re bouncing off,” Quint said. “If someone’s coming in and buying in this environment, they may feel there’s an upside. What a great time to come in and buy if, indeed, value has been reset.” The story of Leslie’s began in 1963, when Philip Leslie and his partner, Raymond Cesmat, launched a chain of pool supply stores throughout the Los Angeles area. In 1988, Leslie’s was sold to the Los Angeles-based venture capital firm Hancock Park Associates. In 1991, the investment bank Montgomery Securities issued 47 percent of the company’s stock as an initial public offering, and Hancock Park led Leslie’s through a period of sharp growth throughout the ’90s. In 1997, Hancock Park partnered with private-equity group Leonard Green & Partners to take the company entirely private. But while the move may signal some degree of optimism among investors, many in the industry doubt the sale will have much effect on the pool business as a whole. “It’s not a significant thing; companies buy and sell all the time,” said Charlie Schobel, the vice president and general manager of BioLab Inc. in Lawrenceville, Ga. Still, the new owners are likely to invest in the business to grow it, which might lead to more consumers making aftermarket purchases, Schobel observed. Others, however, feel that such a change is unlikely to be sparked by a private-equity sale. “I don’t know that [this sale] means much of anything for the industry,” said Eric Mueller, president of the large Midwestern retail chain Watson’s, which is based in Cincinnati. Pool & Spa, Plastic Hoses 2010-08-02T12:08:05-05:00 http://www.havilandusa.com/index.php/news/china-manufacturing-growth-slows/ http://www.havilandusa.com/index.php/news/china-manufacturing-growth-slows/#When:12:02:49Z The government-run China Federation of Logistics and Purchasing reported Sunday that the country’s Purchasing Managers Index, or PMI, fell to 51.2 in July from 52.1 a month earlier. A PMI figure above 50 indicates growth in the manufacturing sector, but the July reading was a 17-month low. The declining pace of manufacturing growth could spook investors, particularly after the United States government reported Friday that the U.S. economy grew at a sluggish 2.4% annualized pace in the second quarter. A measure of new orders in China also dropped sharply, coming in at 50.9 in July. That was down from 52.1 in June. The fall in new order activity could reflect renewed fears of weakness in the economies of the United States and Europe. China has been helping to keep the overall global economic recovery on track as the nation, in addition to being a major manufacturer, is increasingly becoming a key market for goods made in the U.S. and Europe. In the second quarter, China’s GDP rose at an impressive pace of 10.3%. A Chinese official said Friday that China’s economy now tops Japan’s as the world’s second-largest. But the growth in China’s economy was down from a rate of 11.9% in the first quarter, as the government has taken steps to try and cool the economy down. There have been some concerns that China’s economy may have been growing too quickly, and that could give rise to asset bubbles, especially in the real estate market. However, some experts think that China’s economy is still on track to report solid growth, even if it is tapering off a bit. Last week, news agency Market News International said that its China business sentiment survey rose slightly in July. According to that survey, “concerns on the impact of the eurozone crisis have abated somewhat” and Chinese companies were now seeing the usual increase in demand for goods ahead of the important fourth-quarter holiday season. Carl Weinberg, chief economist with High Frequency Economics, a research firm based in Valhalla, N.Y., also wrote in a report Sunday that by looking at other indicators of manufacturing activity, such as steel output and demand, it’s clear that China is still solidly in expansion mode. “China’s economy is very strong. It is recovering from a small slowdown,” Weinberg wrote. Contract Packaging, Surface Finishing, Industrial 2010-08-02T12:02:49-05:00 http://www.havilandusa.com/index.php/news/how-toyota-lost-its-way/ http://www.havilandusa.com/index.php/news/how-toyota-lost-its-way/#When:18:08:59Z Unlike a chief engineer at GM or Ford, whose role is essentially coordination, the Toyota shusa has complete responsibility for a vehicle, beginning with its conception and sometimes lasting through its entire sales life. Besides engineering decisions, the shusa is responsible for a program’s business success. He defines a vehicle’s intended market and is responsible for hitting targets of cost, weight, performance, and quality. Within Toyota ™, the shusas — there are currently 38 — are highly respected and are granted near-absolute authority. But they came under pressure during the term of Katsuaki Watanabe, the company’s president from 2005 to 2009. Watanabe, to boost profitability, pressured the shusas to cut costs aggressively. This they did, even though many of the customers they served were thousands of miles away in foreign markets. When they cut too deeply, feedback was not quick to reach them. Admits one high-ranking Toyota executive: “Those engineers are placed in isolated circumstances in Toyota City. They are shielded from market information.” Toyota customers began to raise questions about the quality of their vehicles, either because they performed unsafely or just looked cheap, Toyota brushed off the complaints and delayed finding solutions. Some current and former Toyota executives in the U.S. came to believe that the shusas were responsible for the company’s defensiveness. They thought the shusas deflected questions about quality and were reluctant to take the problems to top management because they feared losing face. The shusas are emblematic of the idiosyncratic management that served Toyota immensely well when it was trying to conquer the world with superior vehicles — today Toyota ranks fifth on the Fortune Global 500, with revenues of $204.1 billion — but that failed it spectacularly when the company was confronted with a storm of complaints about safety. As the company grew, its Japanese leaders never relinquished the iron grip they exercised over the company’s operations all over the world and continued to make all important decisions in Japan. Instead of globalizing, Toyota colonized. In the past 12 months Toyota has issued a dozen recalls covering defects from faulty accelerator pedals to rusted spare-tire carriers — an extraordinary number for a company once renowned for the quality of its vehicles. In response, Toyota has appointed a chief quality officer, created an advisory panel on safety, and restructured its reporting system in the U.S. to communicate defect issues in a more timely manner. The changes seem mainly cosmetic. Toyota president Akio Toyoda — grandson of the company’s founder — shows little inclination to alter the corporate structure that allowed the quality issues to fester. Speaking with Fortune by telephone, Toyoda insisted that what the company needed was not a change in organization but a return to fundamentals. “We maybe slacked in some of our core principles [like] attention to the basics of manufacturing,” he said. “It was as if we were engaged in car manufacturing in a virtual world and became insensitive to vehicle failings and defects in the market. Now we understand the gap between virtual world and real world, and we’re working hard to fill those gaps. We want to pursue the basic performances in our cars — run, turn, stop — and secure the confidence of our customers.” Without deep changes, Toyota’s U.S. operations will continue to be overseen by a giant Japanese bureaucracy that protects corporate fiefdoms in Toyota City. Toyota could find itself where General Motors was 30 years ago: with a seemingly dominant market position but an arrogant and inflexible culture that so weakens the company that it eventually collapses. 2010-07-12T18:08:59-05:00 http://www.havilandusa.com/index.php/news/tesla-bets-on-electric-cars-future/ http://www.havilandusa.com/index.php/news/tesla-bets-on-electric-cars-future/#When:14:24:33Z In an amended prospectus, the Palo Alto, Calif., company said it raised the planned size of the IPO to 13.3 million shares from 11.1 million shares. The 20 percent boost suggests the company’s brokerage underwriters, led by Goldman Sachs Group Inc., are seeing strong interest from investors. The company kept the expected price range of the shares at $14 to $16 each. The success of the sale depends on how much investors are willing to bet on a car company that has never made a profit, sells a single, pricey vehicle and expects to lose money until at least 2012. But the Palo Alto, Calif., startup believes Americans’ taste in cars is changing. Most analysts agree with Tesla that the internal combustion engine will soon make room for greener forms of powering cars, such as electricity, as gas prices rise and environmental worries mount. Tesla said the company itself would sell 11.9 million shares, raising as much as $190 million, before underwriting fees. Current shareholders, including Chief Executive Elon Musk, who made a fortune as a co-founder of PayPal Inc., planned to sell 1.42 million shares. The filing said the IPO could be expanded by 2 million shares if demand was heavy enough. The additional shares would come from current shareholders. The stock has been given the Nasdaq trading symbol TSLA. The company introduced its first electric car, the $109,000 Roadster, in 2008. It has sold about 1,100 of the cars worldwide. The IPO proceeds are to fund production of the company’s new vehicle, the Model S sedan, which is expected to sell for about $57,000. A federal tax credit of $7,500 for electric cars would cut the price to just under $50,000. The commercial launch is planned for 2012. Tesla says the Model S will accelerate from zero to 60 miles per hour in just 5.6 seconds, making it among the quickest four-door sedans on the road. It is expected to get 160 to 300 miles on a single charge, depending on the version. Associated Press contributed Surface Finishing, Industrial 2010-06-29T14:24:33-05:00 http://www.havilandusa.com/index.php/news/the-summit/ http://www.havilandusa.com/index.php/news/the-summit/#When:15:14:52Z Dale’s father, John had started Master Finish Company in 1959, first as a vibratory finishing job-shop, eventually adding copper-nickel-chrome plating to capture the seemingly unquenchable zinc die cast market of the day. Dale joined his father’s company after exploring opportunities in other fields, finally succumbing to the gravitational pull to join the family business in 1977. He was thirty-three years old, green and eager to learn the science, the business and the art of metal finishing. The following edition of The Finishing Line is the transcript of a joint project between Products Finishing Magazine and Haviland Products Company to capture a moment in time for an industry climbing out from a eighteen month malaise. On the dawn of Sur/Fin’s return to Grand Rapids after a sixty year absence, PF and Haviland wanted to gather together, in one room the owners of three of the area’s plating stalwarts to discuss the state of the industry, the state of the economy, Sur/Fin and the future of metal finishing. The Summit took place appropriately on Earth Day, 2010, and appropriately in Grand Rapids, MI. It was in Grand Rapids that this nation began its waste treatment awakening of the late 1960’s. Spurred by pressure from U.S. and Canadian environmental pressure, the strict waste water standards set forth in Grand Rapids were decades ahead of other municipalities, and are still among the most stringent nation-wide. The metal finishing industry, a conspicuous contributor to the water pollution issues of the first half of the twentieth century, is now one of the most regulated, monitored and scrutinized industry groups world-wide. Today, the environmental stewardship programs, techniques, equipment and chemistries pioneered by the plating industry to treat effluent streams are used in every sector of manufacturing to sustain the precious natural resource. The attendees of The Summit were Jon and Jeff Rasche, the second generation owners of Valley City Plating, who purchased their father’s company in 1998, Bruce Stone and Scott Alvesteffer, the one-time zinc die casters, who’s leap of faith resulted in the purchase of Allied Finishing in 1994, and Dale Mulder and Doug Roetman from Master Finish Company. Dale had taken his time to join his father’s company; Dale’s cousin Doug joined his Uncle John’s company fresh out of high-school at the company’s infancy. Fifty plus years later, the hard-nosed VP’s inevitable retirement will have to be seen to be believed. Before the rest of The Summit invitees had arrived, Dale Mulder paused in mid-sentence with the PF and Haviland group gathered for the round-table discussion, a beaming smile stretched across his face. The proud father announced that his son, John had joined Master Finish Company two days earlier to begin his plating education and the future succession of his namesake’s company. John was joining his father’s company after exploring opportunities in other fields, finally succumbing to the gravitational pull to join the family business. He is thirty-three years old, green and eager to learn the science, the business and the art of metal finishing. Haviland News 2010-06-08T15:14:52-05:00 http://www.havilandusa.com/index.php/news/u.s.-begins-criminal-investigation-into-oil-spill/ http://www.havilandusa.com/index.php/news/u.s.-begins-criminal-investigation-into-oil-spill/#When:20:24:18Z BP began its latest attempt to curtail the flow of oil from an underwater well in the Gulf of Mexico on Tuesday, using robot submarines to cut into a damaged pipe a mile down. The operation carries the risk that the flow of crude from the ruptured well, already the largest oil spill in U.S. history, will increase. But if successful, the company says it will be able to catch most of that oil with a cap it plans to place over the severed lower marine riser pipe. “Even with an increased flow rate, this cap will be able to handle this,” BP Managing Director Bob Dudley told CNN’s “American Morning.” While the engineering has never been attempted at a depth of 5,000 feet, Dudley said Tuesday the latest attempt is “more straightforward” than previous, unsuccessful efforts. A mechanical claw began squeezing the heavy riser pipe late Tuesday morning, the first step in a series of planned cuts. After that, a diamond-cut saw will be used to make a “clean cut,” preparing the way for the custom-made cap to be fitted over the package. Tar balls and puddles of oil from the oil spill reached the shores of Alabama’s Dauphin Island on Tuesday, residents and researchers involved in cleanup efforts reported. Coast Guard Adm. Thad Allen said authorities were investigating reports that the outer sheen of oil was reaching coastal waters off Mississippi and Alabama earlier Tuesday, but those reports had not been confirmed when he spoke to reporters in New Orleans, Louisiana. The National Oceanographic and Atmospheric Administration had warned earlier this week that the spreading slick was heading toward the Alabama and Mississippi coasts. Tar balls associated with the Gulf spill had hit Dauphin Island, about 35 miles south of Mobile, in early May. Video: Obama unveils oil spill commission Video: Gulf Coast oil disaster response Video: Oil could hit Alabama by Wednesday Video: Capping the leak RELATED TOPICS Gulf Coast Oil Spill BP plc Louisiana Oil has been gushing from the undersea well since April 20 when the Deepwater Horizon oil rig exploded and later sank. Government estimates are that up to 19,000 barrels (798,000 gallons) of oil a day are flowing into the Gulf of Mexico. Dudley said that could increase by up to 20 percent — nearly 160,000 gallons — when the pipe is cut, but he said the company has learned lessons from its earlier attempts that it is applying to the new process. Warm water and methanol will be pumped into the cap to limit the growth of gas hydrate crystals that thwarted an earlier attempt to cap the spill, he said. And a second line is planned to draw more oil off the well’s blowout preventer, a critical piece of safety equipment that has so far failed to shut down the well, using equipment involved in last week’s failed “top kill” operation. BP’s handling of the spill and its statements regarding the status of operations have been sharply criticized by some in recent weeks. The Obama administration announced Tuesday that it would no longer hold joint news briefings with the company and that Allen, its point man on the spill, will now become the face of the government’s response effort. Allen told reporters in New Orleans, Louisiana, that his job is to speak “very frankly with the American public.” “I think we need to be communicating with the American people through my voice as the national incident commander,” he said. Rear Adm. Mary Landry, who has been the Coast Guard’s on-scene coordinator for five weeks, will be returning to her duties as chief of the service’s New Orleans district office. Coast Guard Commandant Robert Papp said the plan always has been for Landry to resume that role in preparation for the Atlantic hurricane season, which began Tuesday. Allen praised Landry’s work leading “an anomalous and unprecedented response” to the spill, but said Landry now needs to focus “on the larger array of threats” to her district, which includes the U.S. Southeast and Midwest. The oil spill has spread across much of the northern Gulf of Mexico, washing ashore in the environmentally sensitive marshes along the Louisiana coast that serve as the cradle of the region’s fishing industry. Plaquemines Parish President Billy Nungesser said crude has fouled 24 miles and about 2,965 acres of the state’s coastline, and the start of hurricane season raised new worries that a storm could drive more oil ashore. “We don’t want to scare anybody, but we need to be realistic about it,” Nungesser said. “If a storm does top out levees, it will probably bring oil with it.” He said residents who evacuate ahead of a hurricane might return “not to a flooded home, but to a home that is completely contaminated with this oil.” “I don’t know how to soft-pedal that,” he said. Tuesday also marked the start of the recreational fishing season for red snapper, a big draw for sport anglers in the region. But the season opened with a new blow to the region’s fisheries industry as the National Oceanographic and Atmospheric Administration extended its restrictions on fishing to nearly a third of the Gulf. The latest closures extend southward to a point about 240 miles west of the tip of Florida and eastward to federal waters off the Alabama-Florida state line. Dudley said BP has agreed to make other changes to its containment plan, including a system that will allow a quick disconnect in case of a hurricane. But the the long-term solution is to drill two relief wells, a process expected to be complete in August. BP, rig owner Transocean Ltd. and oilfield services company Halliburton have blamed each other for the disaster, which left 11 workers dead, but BP is responsible for cleanup under federal law. BP said in a statement Tuesday the cost of the response to date amounts to about $990 million. White House energy adviser Carol Browner said the administration has always hoped for the best, “but we are preparing for the worst.” If attempts to capture more of the leaking oil fail, she said, “we would be in a situation where it is conceivable that there would be oil leaking at a rate of something on the order of 12,000 to 20,000 barrels a day until the relief wells are dug.” Some scientists have said they believe large plumes of oil are under the water’s surface. However, scientists have not found evidence of the plumes, Dudley said. “They have found evidence of small decreases in oxygen levels,” he said, which is expected when bacteria consumes the oil. “The science of the plumes hanging in the water doesn’t feel right,” he said. “… We’re absolutely taking these ideas seriously and looking at them. We haven’t found them yet, and neither has the government.” Last month, a group of senators — including Sen. Barbara Boxer, D-California, chairwoman of the Environment and Public Works Committee — sent Holder a letter expressing concerns “about the truthfulness and accuracy of statements submitted by BP to the government in its initial exploration plan for the site,” and asking Holder to investigate possible criminal and civil wrongdoing. In a reply to that letter last week, a Justice Department official did not say whether a criminal investigation had begun. “The Department of Justice will take all necessary and appropriate steps to ensure that those responsible for this tragic series of events are held fully accountable,” Assistant Attorney General Ronald Welch wrote. CNN’s Patrick Oppmann, David Mattingly, Tracy Sabo, Ed Henry and Paul Courson contributed to this report. 2010-06-01T20:24:18-05:00 http://www.havilandusa.com/index.php/news/copper-up-as-dollar-dips-risk-appetite-returns/ http://www.havilandusa.com/index.php/news/copper-up-as-dollar-dips-risk-appetite-returns/#When:01:31:26Z Copper for July delivery on the New York Mercantile Exchange’s COMEX division settled up 2.40 cents at $3.5305 per lb, near the upper end of its $3.4780 to $3.5415 session range. On the London Metal Exchange, benchmark copper for three month delivery ended at $7,745 a tonne from $7,692 on Thursday. Earlier this month, the metal used in power and construction touched a 20-month peak at $8,043.75 in London and nearly $3.70 per lb in New York. Industrial metals’ bulls cheered U.S. data showing new home sales surged 26.9 percent in March, the largest advance since April 1963, and further evidence of a recovery in the world’s largest economy. “You’re seeing some resiliency in the housing numbers,” said Adam Klopfenstein, senior market strategist at MF Global Ltd’s Lind-Waldock division in Chicago, noting that the figures were likely padded by a homebuyer tax credit that is set to expire at the end of the month. “Going forward, the real caveat to the housing market is how is it going to perform when that stimulus is taken away? But for today, the number still show that there is demand for housing and I think that’s what is supporting copper,” he said. Copper found additional support from the currency markets, where the euro rebounded from one-year lows against the dollar after Greece requested emergency financial aid, but concerns about how the aid package will be implemented continued to linger. CHINA CRUCIAL Holding back momentum however, is a fear that China, the world’s top consumer of base metals, may be oversupplied with copper after imports of the metal in March jumped more than 50 percent to 337,125 tonnes. “We still expect Chinese base metal imports to be significantly lower in 2010 with growing domestic demand fed by off-market stocks of metal,” Royal Bank of Scotland said in a research report. Often a demand indicator, copper stocks rose 25 tonnes to 507,150 tonnes, but were down from peaks of 555,075 hit on Feb. 17 that had previously not been seen since October 2003. Aluminum was last bid at $2,332 versus $2,320, having earlier touched $2,290, its lowest since end-March. LME stocks for the metal, used in transport and packaging, slipped 5,900 tonnes to 4.57 million tonnes, remaining near record levels A large portion of those aluminum stocks are tied up in finance deals, to release cash for producers and to earn banks higher returns than they would get in money markets. Nickel ended at $27,000 from $27,095 and battery material lead at $2,300 from $2,310. Base metals traders have been focusing on dominant positions within the smaller LME metal markets, especially nickel. Analysts say a dominant position of all short positions in nickel due this month, may be behind nickel’s gains of around 7 percent this month and is likely to lend further support to prices in the coming days. “Nickel continues to bob around in a manner that underlines the uneasy feeling that we are about to experience a shift of seismic proportion very soon,” RBC Capital Markets said in a note. Zinc ended at $2,405 a tonne from $2,418 and tin at $19,000 from $18,950. Metal Prices at 1852 GMT Metal Last Change Pct Move End 2009 Ytd Pct Surface Finishing, Industrial 2010-04-26T01:31:26-05:00 http://www.havilandusa.com/index.php/news/americans-more-optimistic-about-the-economy-says-poll-posted/ http://www.havilandusa.com/index.php/news/americans-more-optimistic-about-the-economy-says-poll-posted/#When:18:47:41Z “While that’s not a great number, it’s significantly higher than the 12 percent who felt that way in January,” says CNN Polling Director Keating Holland. Thirty-four percent of people questioned in the poll says the economy is still in a downturn, but that’s dropped five points from the 39 percent who felt that way at the start of the year. According to the survey, nearly half the public says that a recovery has not started but that conditions have stabilized. The 46 percent who said the economy’s stabilized is down three points from January. The CNN/Opinion Research Corporation poll was conducted April 9-11, with 1,008 adult Americans questioned by telephone. The survey’s overall sampling error is plus or minus three percentage points. –CNN Deputy Political Director Paul Steinhauser contributed to this report Contract Packaging, Surface Finishing, Industrial, Food & Pharma, Water Treatment, Pool & Spa, Plastic Hoses 2010-04-17T18:47:41-05:00