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Business

  • Earnings off at Franklin Electric Co.
    Franklin Electric Co. on Monday reported second-quarter earnings of $27.1 million, or 55 cents per diluted share, a 4 percent decline from the $28.1 million, or 58 cents a share, posted for the same t ...
  • Franklin Electric quarterly earnings fall 4%
    Franklin Electric Co. Inc. today reported second-quarter earnings of $27.1 million, or 55 cents per diluted share, a 4 percent decline from the $28.1 million, or 58 cents a share, posted for the same three months of 2013.
  • FAA proposes to fine Southwest Airlines $12M
    The Federal Aviation Administration said Monday it is proposing a $12 million civil fine against Southwest Airlines for failing to comply with safety regulations related to repairs on Boeing 737 jetliners.
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Briefs

DeKalb hosting job fair Thursday

Two employers and two staffing agencies representing companies in DeKalb County will host a job fair from 10 a.m. to 2 p.m. Thursday at the Ashley Community Center, 500 S. Gonser Ave., Ashley.

More than 75 jobs are available, with wages ranging about $10 to $15 an hour. Some positions could pay more.

The Family Dollar Distribution Center, Hudson Industries, Ashley Industrial Molding, Trin Inc. and several other companies are participating.

The event was organized by Northeast Indiana Works.

Shell to sell shares in U.S. pipeline unit

Royal Dutch Shell will sell shares in a U.S. pipeline business in the second half of this year as Europe’s largest oil company takes advantage of investor appetite for North America’s energy infrastructure.

Shell Midstream Partners LP’s assets are expected to consist of ownership interests in four onshore and offshore pipelines located primarily in Texas and Louisiana, according to a filing last week. The Houston partnership will trade on the New York Stock Exchange under the ticker SHLX.

Pipeline companies structured as tax-exempt master limited partnerships, or MLPs, have attracted investors by returning almost all their income to shareholders. Share prices have soared amid a boom in oil and gas production from U.S. shale fields. Shell Midstream forecasts $96.5 million of cash available for distribution to investors over the next 12 months.

“Everybody and their dog has got an MLP now in the U.S.,” said Iain Reid, a London analyst for BMO Capital Markets.

Menís Wearhouse closes Bank buy

The Men’s Wearhouse fight to own its one-time rival Jos. A. Bank is now complete. The announcement last week brings to a close a series of dueling bids, first from Jos. A. Bank to buy Men’s Wearhouse, and then vice versa.

After a string of bids that grew quickly in value, the final price tag to combine the two retailers was $1.8 billion, or $65 per share.

Industry watchers say that intense competition in the retail space made the tie-up inevitable. The new company will have about 1,700 stores and $3.5 billion in annual sales.

Hilton inks deal for Myanmar hotels

Hilton Worldwide has signed a contract to operate five hotels in Myanmar, formerly Burma, which is emerging as a popular Southeast Asian tourist destination after military rule was lifted in 2011.

Hilton is teaming up with Eden Group, a Myanmar conglomerate with businesses from hotels to energy. It plans to open a hotel in Yangon under a separate deal announced last year.

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