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EnviroBusiness News…. July-June, 2007
Penn Virginia company buys coal reserves in Illinois,
Kentucky
Penn Virginia Resource Partners LP said
Monday it has acquired 60 million tons of coal reserves for $51.9M in two
transactions. The Radnor, Pa.,
partnership acquired the fee or lease rights to 51 million tons of coal
reserves, a preparation plant and coal-handling facilities in western Kentucky
from a private seller for $42M in cash. The reserves are located on 17,000 acres
on the Green River in Webster and Hopkins counties and are yielding 3.1 million
tons of coal
per year. PVR expects cash flow from the coal royalty payments and charges
associated with coal-handling assets, prior to financing costs, to be $4.8M over
the next 12 months.
Philadelphia Business Journal 7/2/07
NY natural gas production highest ever
Natural gas production from wells in New York state
last year reached record levels, the state
Department of Environmental Conservation reported Monday. Total reported
gas production was 55.157 billion cubic feet, just above last year's record
total of 55.156 bcf. The DEC said
that figure represents a better than 50 percent increase since 2003 and 200
percent increase since 1996.
The 2006 production, which was enough to supply the natural gas needs of nearly
800,000 homes for a year, was driven by prolific wells in the Trenton Black
River formation in the Finger Lakes region. Also, oil production in the state
increased 51 percent from the previous year for a total of 319,099 barrels
reported by purchasers, responding to high oil prices.
(Albany) Business Review 7/2/07
Nomination for New York's Public Service Commission post
withdrawn State Sen. Majority Leader Joseph L.
Bruno has confirmed that the governor's nomination of Angela Sparks-Beddoe to be
a commissioner on the
Public Service Commission has been
withdrawn. Calling the appointment "controversial from the start," Bruno said
the Senate did not consider the nomination while he waited for an inspector
general's investigation "into serious allegations of improper activities and
inappropriate pressure brought by the governor's staff." Sparks-Beddoe, 42,
would have earned $129,000 a year on the Public Service Commission. She is
president
of
Energy East Management Corp. in
Saratoga Springs, an arm of the organization that owns
New York State Electric and Gas.
Gov. Eliot Spitzer's Jan. 24 nomination of Sparks-Beddoe was considered
controversial by some, including Gordon Boyd of Saratoga Springs consulting firm
Energy Next. Boyd said this spring that Sparks-Beddoe's previous actions while
she was a lobbyist for NYSEG were considered adversarial toward
the PSC. Spitzer's office was not immediately available for comment.
(Albany) Business Review 7/2/07
Pietragallo law firm opens Philadelphia office
Pietragallo Bosick & Gordon LLP,
Pittsburgh's eighth-largest law firm, has opened a Philadelphia office.
The firm added two veteran lawyers in that
city as partners. They are Joseph Mancano, previously a shareholder in Buchanan
Ingersoll & Rooney's Philadelphia office, and Joseph Vaughan, who had operated
the
Vaughan Law Offices LLP in West Chester, Pa.
Pittsburgh Business Times
7/2/07
USGBC to boost LEED energy performance standards
As part of the U.S. Green
Building Council's
Climate Change Agenda, the group's membership have overwhelmingly voted to
approve a 14 percent increase
the requirements for energy performance within the LEED standards. The change
will require all LEED certified
projects to achieve at least two "Optimize Energy Performance" points, which
will improve the energy
performance of all LEED certified green buildings by 14 percent for new
construction and 7 percent for existing
buildings
GreenerBuildings 6/28/07
Cozen O'Connor establishes board of directors
Philadelphia law firm Cozen O'Connor says it has
appointed members to its first-ever board of directors. The initial board will
consist of the firm's management committee and an additional nine geographically
dispersed firm partners. For this year, these nine board members were appointed
by founders Stephen A. Cozen and Patrick J. O'Connor and advisory committee
member John J. Cunningham. Beginning next year, board members will be elected by
shareholders of the
firm on a staggered term basis.
Philadelphia Business Journal 6/25/07
Philadelphia chemical firm closing Baltimore plant
FMC Corp.
has decided to close its Baltimore agricultural plant by next March and take a
$125M to $135M charge over the next five quarters as part of discontinuing those
operations. The Philadelphia chemical company (NYSE:FMC) said it would outsource
the plant's operations to several of its manufacturing partners. FMC said the
move, part of a plan to utilize
"lower-cost manufacturing locations," will boost income from continuing
operations by $5M to $6M this
year and by $25M to $30M a year starting in 2009
Philadelphia Business Journal 6/21/07
Public Service Enterprise
Group's board names Richard J. Swift as Presiding Director
The board of directors of Public Service Enterprise Group (PSEG) has named
Richard J. Swift as its
presiding director. Swift has been an external member of the board since 1994
and is a retired chairman,
president and chief executive officer of Foster Wheeler Ltd. Swift’s appointment
is effective immediately
and will run for two years. In his capacity as presiding director, he will chair
executive sessions of the
board and provide feedback to the chairman. He will advise the chairman on the
quality and timeliness
of information provided to all directors. In addition, he will help establish
agendas for board meetings and
will help review and convey appropriate communications from shareholders to the
board
PSEG 6/20/07
Environmental Attorney joins law firm as
shareholder Giordano, Halleran &
Ciesla in Middletown,
NJ, announces that Marc D. Policastro
has joined the firm as a shareholder. Policastro, of the firm’s
Environmental and Land Use Practice Areas, concentrates his practice in
development, environmental
compliance cases, transactional matters, land use,
zoning and business counseling.
He has represented
developers, lenders,
borrowers and municipal boards in myriad and
use contexts, including commercial
and residential development. He concentrates on complex remediation cases and
general environmental
compliance counseling. He has significant experience in
Industrial Site Recovery Act, Spill Act, and related hazardous substance
regulatory matters. Policastro also has significant experience in redevelopment
of contaminated sites. Policastro is listed in Chambers USA - America’s
Leading Business Lawyers
2006-2007 in the Real Estate: Zoning/Land Use
practice area. In September 2004, he was selected by the
New Jersey Law
Journal for inclusion in its top "40 Under 40" list, noting the leading 40
attorneys in the
state under the age of 40. Policastro is a member of the New
Jersey State Bar Association and its Land
Use and Environmental Law Sections,
the Monmouth County Bar Association and the Mortgage
Bankers Association. He is
admitted to practice in New Jersey and New York. 6/20/07
Magazine names K&L/Gates top corporate firm
Kirkpatrick & Lockhart Preston Gates Ellis LLP
was cited as the best corporate law firm in Pittsburgh, according to the seventh
annual Legal Industry
Research Study conducted by Corporate Board Member
magazine and FTI Consulting. The study identifies
the top five corporate law
firms in 25 major metropolitan areas, according to directors serving on the
boards
of publicly traded companies listed with the three major exchanges:
NASDAQ, New York Stock Exchange
and American Stock Exchange.
Among Pittsburgh's top five,
Reed Smith LLP ranked second, switching
places
with K&L Gates from their respective 2006 rankings.
Buchanan Ingersoll & Rooney PC placed third,
Eckert Seamans Cherin & Mellott LLC was fourth and Cohen & Grigsby PC was
fifth. The ranks for those
three firms were the same as last year.
Pittsburgh Business Times 6/15/07
Growmark FS honored with ERA award
Growmark FS, LLC of Upper Deerfield Twp., NJ,
has been
selected as one of five regional Environmental Respect Award (ERA)
winners for 2007.
ERAs, sponsored
by CropLife magazine and DuPont Crop Protection,
are the agricultural industry's
highest recognition for
environmental stewardship among U.S. agricultural
retailers -- those who
serve farmers and ranchers with
the nutrients, pest control and agronomic
information and services
critical to effective crop production
Bridgeton News 6/15/07

Johnson Matthey, a world leader in advanced
materials technologies, is pleased to announce
that Amy Donohue-Babiak has joined the Law
Department as Associate General Counsel at the
North American Corporate office based in Wayne,
Pennsylvania. 6/14/07
PSE&G
endorses new transmission lines for long-term electric reliability in New Jersey
Public Service Electric and Gas Company (PSE&G) today endorsed construction of
several new 500-
kilovolt transmission lines that will significantly improve the
long-term reliability of the electric system
that serves
New Jersey customers. The utility supports construction of three additional
500-kilovolt lines
to reinforce transmission facilities on existing rights of
way:
• An 80-mile line from Camden County (New Freedom) north to Middlesex County
(Deans)
• A 30-mile line from Somerset County (Branchburg) to Essex County (Roseland)
• A 135-mile line from Luzerne County, PA to Essex County (Roseland).
“These new transmission lines are essential
for New Jersey to meet the growing demand for electricity
over the long term,”
said Ralph LaRossa, president and chief operating officer of PSE&G. “PJM
Interconnection, the regional transmission organization, has already identified
a number of areas in which
additional transmission facilities are needed to
ensure the continued reliability of our region’s electric grid
and our state’s
economic growth. While long-term reliability is driving the need to build these
lines, we
also expect that they will eventually ease transmission congestion and
lower electric prices for our
customers.” In April, the U.S. Department of
Energy designated New Jersey and surrounding areas as
critical congestion areas,
highlighting the need for transmission investment.
News release 6/8/07
Worldwide Wholesale Floor
joins effort to keep our planet green
Worldwide Wholesale
Floor
Coverings is introducing an environmentally friendly carpet-recycling program —
the Rip-Up, Remove,
Recycle Guarantee
Home News Tribune 6/7/07
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Tire recycling options roll on
In previous generations, recycling a tire
meant making a swing for your
kids or using it as a planter in the yard. Today's tire-reuse options are far
broader, including everything from playground mulch to sidewalks. The University
at Buffalo is exploring even more reuse options with help
from a $1.8 million state grant
Buffalo Business First 6/4/07
Builder honored for impact on North Jersey industry
In the past
12 months, Hackensack-based
Russo Development has built some of the largest new industrial projects in North
Jersey
Bergen Record
Housing slump punishes Hovnanian stock for third
straight quarter
Hovnanian Enterprises Inc.
reported yesterday it
swung to a loss in the second quarter, giving the homebuilder a third
consecutive
quarterly loss. The Red Bank- based company said it lost $30.7M or
49 cents per share, for the three
months ended April 30, after paying preferred
stock dividends
Star-Ledger 6/1/07
Previous months:
Enviro-Business - May 2007
Enviro-Business - April 2007
Enviro-Business - March 2007
Enviro-Business - February 2007
Enviro-Business - January 2007
Enviro-Business - October 2006
Enviro-Business - September 2006
Enviro-Business - February 2006
Enviro-Business - January 2006