Welcome to the inaugural post of the Daily Mail’s new “Dollars & Sense” business blog. I’m your host, Jared Hunt, business editor here at the Charleston Daily Mail. Since every other beat at the paper has a blog (see here, and here, and here, and here, and here, and here, and here, and here, and here, and here, and here, and here), it was only logical to start one up here to focus on business news. Like the other Daily Mail blogs, I hope to use this as a way to provide a bit more coverage, insight and analysis than you find in our print and digital editions (those are our fancy names for the newspaper and website/E-edition).
I’ve got a couple posts lined up for later in the day, but first let’s start with a round-up of today’s business news:
- Capitol Reporter Dave Boucher profiled the investments of the WV Jobs Investment Trust, which topped $14.5 million this year. My predecessor George Hohmann had some prior stories on the trust’s past performance, which you can find here and here.
- FirstEnergy yesterday announced a settlement proposal for the transfer of its Harrison County plant to Mon Power. The Gazette’s Ken Ward Jr. already has a good post over on his Coal Tattoo blog that links to the full agreement (which still has to be approved by state regulators) and a lot of stories providing background on the case.
- Felman Production (which I profiled ahead of its 60th anniversary last year) announced yesterday it plans to lay off 100 workers at the end of the month. The company is still struggling to deal with a terrible market for its product. It first announced cutbacks in May, followed by an announcement in June that they planned to halt production at the New Haven plant. The company is lobbying the International Trade Commission to renew anti-dumping regulations that could help matters from getting worse. Rep. Shelley Moore Capito, R-W.Va., testified on the company’s behalf before the ITC in July.
- OSHA has cited Ripley-based Best Logging with 14 serious and four other-than-serious violations at Rock Castle work site where one of its workers died in February. The company has 15 days to challenge the citations.
- If you’re like me, you can’t wait til the start of football season next week. Well, the guys and gals over at Sport Mart have been preparing for the season all year. Forget Christmas, this is their holiday season.
- I’ve done a LOT of reporting on the whole WVU-IMG-W.Va. Radio Tier 3 saga in recent days (stories here and here). While West Virginia Radio folks are vocal in touting their math and saying their bid was competitive, the thing was, IMG’s bid was guaranteed. That’s a HUGE factor in this, and I tried to explain why that is in today’s business column.
That’s a good lunchtime wrap-up for today. I’ll try to get at least one or two more posts up on the blog as the day progresses as well.
Also, if you want to hear more about the WVU Tier 3 saga, Mike Casazza and I will be joining Chris Lambert on SMC Radio’s The Spin Zone tonight at 8 p.m. (Available to hear online at the link.) Chris says he’s invited West Virginia Radio GM Dale Miller on for the second hour to detail more on his company’s bid.