Fall River, MA  (Profitable.com)  Earlier this week the Today show aired a segment titled,  “Hidden Dangers of Indoor Ice Rinks,” exposing the potential risks of inhaling hazards like carbon monoxide (CO) for the users of the estimated 8,500 ice rinks across the United States and Canada.  The source of this poisoning?  Usually it’s the fuel-fired ice resurfacing machines used to keep the ice clean and smooth,  but can also be attributed to malfunctioning equipment used to keep the rinks cold.

In recent years there have been several incidents of athletes and spectators at indoor ice arenas falling ill by way of inhaling these toxic fumes.  In Clearwater, Fla. earlier this month, 23 children and adults were sickened and six were treated at a local hospital after a malfunctioning dehumidifier filled the space with CO, as reported by www.tampabay.com.  And, according to Reuters, in February of this year, in Gunnison, Colo., 61 people at a youth girls’ hockey tournament were poisoned, likely from a buildup of CO from ice resurfacing machine, the local fire marshal said.  In response to these incidents, Apollo Safety is offering CO solutions for rink owners and managers at
apollogassafety.com.

“Too often we learn of near disasters, near death experiences, and unfortunately death from carbon monoxide poisoning,” said John V. Carvalho III, president and CEO of Apollo Safety.  “More often than not these tragedies could have been avoided with inexpensive CO devices readily available from professional gas detection suppliers and gas monitor calibration.  Don’t let your family, customers or workers suffer to this end.”

Carbon monoxide is a combustion pollutant and is produced when fuels such as gasoline, propane or diesel is burned to power, for example, ice resurfacing machines.  Because CO is odorless, tasteless, and invisible it is impossible to detect without a CO detector.  At low levels of CO, a person would experience headache, nausea, dizziness, and confusion.  It is critical to find fresh air immediately and seek medical attention, according to the U.S. Environmental Protection Agency (EPA).

While there are no federal regulations requiring indoor air monitoring equipment for ice arenas, the EPA has increased its emissions standards for all new fuel-burning ice resurfacers greatly reducing the amount of toxic gas emissions by these machines.  Additionally, the EPA lists recommendations for owners and managers of these facilities to keep the level of these toxins down, such as providing adequate ventilation, replacing older equipment, warming up resurfacing vehicles in a well ventilated room, and establishing a system of monitoring air quality, according to www.epa.gov/iaq/icearenas.

LogicBay’s Performance Center unifies all facets of distribution channel development into a single, easy-to-use portal. The Performance Center’s unified suite of core technologies includes Marketing Communications Management, Learning Management, Performance Management, Content Management and Social Management. The portal capabilities of the system allow easy, single sign-on to other dealer and customer-facing systems both inside and outside the firewall. Additionally, the Performance Center can be customized and expanded through the use of a growing stable of unique widgets and apps.

DTNA deployed LogicBay’s original Performance Center in 2000 and has been upgrading to newer versions as they become available. The latest version, 7.2, adds enhanced functionality including application/API support, a collaboration dashboard, a manage organizations dashboard, MyLinks updates and support for Qualified Instructors. Performance Center 7.2 also adds enhanced administrative capabilities such as a new HTML editor, HTML versioning, improved licensed management and an improved, tabbed user interface.

The Daimler deployment currently provides five partner portals to its dealers, including Freightliner and Western Star New Truck Sales, Used Truck Sales, Detroit Diesel Engines, and Daimler Truck Financial. The system includes over 200 active courses and over a half-million records. The deployment is hosted and supported by LogicBay through their SaaS (Software as a Service) channel management software.

“We rely on LogicBay’s Performance Center to bring our dealers the training and certification, marketing communications, and collaboration they need to perform effectively. LogicBay’s oversight, monitoring and functionality enhancements have allowed us to continually offer a top-of-the-line solution. This latest upgrade is just one more example of their commitment to us and our dealers. That’s why we’ve used their Performance Center for over ten years now, and why we’ll be adding three more centers soon.” – Tom Zielke, Sales Training Manager, Freightliner Trucks

About LogicBay

LogicBay provides technology-enabled Partner Relationship Management (PRM) solutions enabling organizations to engage, manage and develop their dealer networks, leveraging shared knowledge and best practices. With a focus on the key elements of engagement including collaboration, marketing/communications effectiveness, training and certification and performance management LogicBay deploys powerful on-line communities that empower and connect the extended networks of a dispersed sales function to be able to sell and service products more effectively.

About Daimler Trucks North America

Daimler Trucks North America LLC is the largest heavy-duty truck manufacturer in North America and a leading manufacturer of Class 4-8 vehicles. Daimler Trucks North America produces and markets commercial vehicles under the Freightliner, Western Star and Thomas Built Buses nameplates. Daimler Trucks North America is a Daimler company.

Texas Instruments Incorporated (TI) (NYSE: TXN) today introduced a family of dual 16-, 14- and 12-bit digital-to-analog converters (DACs) that provides the industry’s highest precision and lowest power consumption. The DAC8562 family delivers 25-percent better integral non-linearity (INL) and 60-percent lower offset error compared to similar devices. The DACs also provide best-in-class power consumption and are ultra-small, making them suitable for space and power-constrained systems, such as wireless base stations, programmable logic control (PLC) analog output modules, motor control, precision instrumentation and portable medical equipment. For more information and to order samples, visit www.ti.com/dac8562-pr.

Key features and benefits of the DAC8562 family

• Best-in-class precision with 0.1 nV-sec glitch energy, a maximum offset error of 4 mV, a maximum INL of 0.75 LSB at 12-bits and a maximum reference drift of 10 ppm/degree C improves system accuracy.
• Lowest power consumption in its class, consuming only 0.1 mA per channel to minimize the power required for VGA control in wireless base stations, as well as to operate tunable laser modules, CNC machines and portable medical devices, such as oscilloscopes and portable blood analyzers.
• Reduces cost and board space with an integrated precision reference that provides a 20-mA sink/source capability to eliminate the need for an external buffer.
• Supports different control loops with options for both reset to zero-scale and reset to mid-scale to provide greater design flexibility.
• Characterized for harsh industrial environments up to 125 degrees Celsius, 20 degrees higher than the competition.

Tools and support

TI offers a variety of free tools and support to speed development with the DAC8562 family, including:

• Two evaluation modules for quick evaluation. The DAC8562EVM and DAC7562EVM are available today for a suggested retail price of $49.
• An IBIS model to verify board signal integrity requirements.
• Reference designs for analog output modules in PLCs and high-voltage, bipolar output control applications, which are included in the DAC8562 data sheet.

Availability, packaging and pricing

Devices in the DAC8562 family are pin-for-pin compatible and are all available today in either a 3-mm x 3-mm QFN or 3-mm x 5-mm MSOP package. Pricing in 1,000-unit quantities is as follows:

• 16-bit DAC8562 (reset to zero scale) and DAC8563 (reset to mid-scale) for $4.20.
• 14-bit DAC8162 (reset to zero scale) and DAC8163 (reset to mid-scale) for $3.85.
• 12-bit DAC7562 (reset to zero scale) and DAC7563 (reset to mid-scale) for $2.50.

Learn more about TI’s precision data converter portfolio by visiting the links below:

• Order DAC8562 family samples or EVMs: www.ti.com/dac8562-pr.
• Download the data sheet: www.ti.com/dac8562ds-pr.
• Check out the new Industrial Automation Solutions for PLCs guide: www.ti.com/plcguide-pr.
• Ask questions and help solve problems in the Precision Data Converter Forum in the TI E2E™ Community:http://www.ti.com/e2epdc-pr.

About Texas Instruments

Texas Instruments semiconductor innovations help 80,000 customers unlock the possibilities of the world as it could be – smarter, safer, greener, healthier and more fun. Our commitment to building a better future is ingrained in everything we do – from the responsible manufacturing of our semiconductors, to caring for our employees, to giving back inside our communities. This is just the beginning of our story. Learn more at www.ti.com.

Trademarks

TI E2E is a trademark of Texas Instruments. All other trademarks and registered trademarks belong to their respective owners.

Elemental LED, a San Francisco Bay Area-based LED lighting company, recently cut prices on its popular Tess Bulbs, the LED Replacement Bulbs with a standard e26/27 screw-in base and cutting-edge Cree LED chips. 6W Tess Bulbs, a replacement for standard incandescent 30W bulbs, were $29.99 and are now $17.99. 7W Tess Bulbs, equivalent to 40W incandescent bulbs, were $34.99 and are now $19.99. 9W Tess Bulbs, a 60W replacement, were $39.99 and are now $21.99.

Elemental LED introduced the Tess Bulb to its catalog last year as a top-of-the-line product with significant improvements in function and light quality to that of its LED replacement light bulb predecessors. Tess Bulbs are UL listed and feature Cree LED chips, top-rated for their brightness and energy-efficiency. According to Cree, “Cree LEDs combine highly efficient InGaN [Indium gallium nitride] materials with proprietary G•SIC® substrates to deliver superior price/performance for high-intensity LEDs.”

The prices of LED light bulbs and fixtures are decreasing dramatically throughout the industry, making them an economically viable option for consumers. The price decrease follows similar trends of other consumer electronic products, for which a gradual increase in demand and consumption leads to a dramatic lowering of prices.

Features of the Tess LED Light Bulb include no flickering or humming, a durable housing that is difficult to break, no warm-up time required, and no mercury. Containment of toxic mercury, flickering, humming, fragility and slow warm-up are all well documented problems with CFLs. The Tess Bulb lasts for 50,000 hours, 10 to 50 times longer than a standard incandescent bulb or CFL, and uses 20% as much energy as an incandescent bulb.

The Tess Bulb is available in a warm white color temperature, which creates an inviting, smooth, even light for indoor living spaces. It is also available in neutral white, which works well against metal and cool color tones or outdoors.

The decrease in prices by Elemental LED signals that the company is positioning itself as a viable competitor to big box retailers. “We are top of the market when it comes to quality and customer service,” says Director of Business Development Matthew John, “In the past some of our competitors have beat us in terms of price, but that is quickly changing.”

To learn more about the Tess LED Light Bulb, please visit http://www.elementalled.com.

About Elemental LED

Elemental LED is where style and affordability meet sustainable lighting. Elemental LED offers a wide selection of LED lighting products for home and business owners, including LED strip lights, light bars, puck lights, wall washers, light bulbs, controllers, power supplies and more. Products include color-changing, dimming and waterproof functionality. Elemental LED offers in house engineering and comprehensive customer service and education, from live phone support to online tutorials. LED lighting technology is the safest, hippest, and most energy efficient way to light up the world.

DTE Energy’s Monroe Power Plant received the CET Bronze Award today for an outstanding safety and health record from the Michigan Occupational Safety and Health Administration (MIOSHA).  The MIOSHA program is part of the Michigan Department of Licensing and Regulatory Affairs (LARA).

“We are honored to present this award to DTE’s Monroe Power Plant for providing their workers with a safe and healthy work environment,” said Steve Arwood, LARA Deputy Director.  ”This award recognizes their outstanding efforts to protect their workers, while providing the energy that is fueling our economic recovery.”

The MIOSHA Consultation Education and Training (CET) Division recognizes the safety and health achievements of Michiganemployers and employees through CET Awards, which are based on excellent safety and health performance.  The CET Bronze Award recognizes leadership and commitment to workplace safety and health resulting in significant improvement of their MIOSHA record.

CET Division Supervisor Sherry Scott presented the award to Brian Rice, Plant Manager, and Todd Burger, Site Union Safety Representative.  Rice and Burger are the Safety Committee Co-chairs and accepted the award on behalf of all employees.  Most plant employees are represented by the Utility Workers Union of America Local 223.

“This award means a lot to everyone who works at the Monroe Power Plant because it could not be achieved without a personal commitment by every individual,” Rice said.  ”Everyone has to be aware of potential hazards that could jeopardize their own safety, but everyone also has to take a personal responsibility for the safety of their co-workers.  Without a team effort where every worker is focused on the health and safety of their fellow employees, we could not achieve the safety levels that have earned us this recognition.”

The plant has completed the following criteria to receive the Bronze Award:

• Reduced their injury/illness incident rate by more than 50 percent within the last three calendar years;
• Developed and implemented a comprehensive safety and health management system;
• Established a safety and health committee, with both employee and management participation;
• Developed an employee training system, with an emphasis on how to do the work in a safe and healthful manner; and
• Worked diligently to change their workplace culture to reflect the importance of worker safety.

The award ceremony took place at a luncheon on the last day of the plant’s annual Safety Week.  During that week, most plant work is focused on safety, including a day or more dedicated to plant clean up and housekeeping.  During the course of the week, plant employees have an opportunity to participate in group safety presentations, displays and demonstrations and other activities with a safety focus.

The Monroe Power Plant is classified under NAICS code 221112 – Electric power generation, fossil fuel (e.g., coal, oil, gas).  The plant significantly reduced their incident rates over the last three years.  Their total recordable case (TRC) rate was 3.2 in 2008, 1.6 in 2009, and 1.2 in 2010, compared to the Bureau of Labor Statistics (BLS) industry average of 8.4 in 2008 and 15.0 in 2009.  Their total day’s away/restricted cases (DART) rate was 2.5 in 2008, and 0.8 in 2009 and 2010, compared to the BLS industry average of 1.8 in 2008 and 1.7 in 2009.

The Monroe Power Plant employs more than 400 full-time workers and has a well-developed safety and health system and an actively engaged Health and Safety Committee.  CET Senior Safety Consultant Jennifer Clark-Denson conducted a hazard survey at the plant.  This allowed the Monroe team the opportunity to walk through the facility with Clark-Denson and rely on her expertise to identify problem areas, which were noted and later corrected.

“Companies that establish an integrated safety and health program reap the benefits of significantly reducing their injury and illness rates,” said Scott.  ”Reducing these rates not only protects employees – it has a healthy impact on a company’s bottom line.”

DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide.  Its operating units include Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan; MichCon, a natural gas utility serving 1.2 million customers in Michigan; and other non-utility energy businesses focused on gas storage and pipelines, unconventional gas production, power and industrial projects, and energy trading. Information about DTE Energy is available at www.dteenergy.com and at www.twitter.com/dte_energy.

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For more information about LARA, please visit www.michigan.gov/lara.  Follow us on Twitter www.twitter.com/michiganLARA, “Like” us on Facebook or find us on YouTube www.youtube.com/michiganLARA.

Domtar Corporation (NYSE: UFS) (TSX: UFS) today announced the signing of a definitive agreement for the acquisition of privately-held Attends Healthcare, Inc. (“Attends”), manufacturer and supplier of incontinence products, from KPS Capital Partners, L.P. for $315 million. The closing of the transaction is expected during the third quarter 2011, subject to customary closing conditions.

“This is a good transaction that allows us to take measured steps into the consumer products market in a product area where high single-digit global growth is expected,” said John D. Williams, President and Chief Executive Officer of Domtar. “We believe there is the potential to double Attends’ earnings within five years and we are committed to unleashing the great organic growth potential. With this acquisition, we will consume internally some of our high quality Lighthouse™ fluff pulp produced in our nearby Plymouth, North Carolina mill. Domtar will continue to look for innovative ways to build growing businesses based on sustainable wood fiber.”

Attends produces a complete line of incontinence care products and washcloths marketed primarily under the Attends® brand name. The company has a wide product offering encompassing over 170 SKUs and it serves a diversified customer base in multiple channels throughout the United States and Canada. The company operates a 775,000 square foot facility with nine production lines and a state-of-the-art distribution center in Greenville, North Carolina. Attends has approximately 330 employees, annual sales of approximately $200 million, and an estimated run-rate EBITDA of $39 million.

Michael Fagan, currently President and Chief Executive Officer of Attends Healthcare, Inc., will continue in his functions. Commenting on the transaction, Mr. Fagan said, “I am delighted to join Domtar and to take the business to the next level of success. With strong commitment and support, the new ownership structure will allow us to realize the full potential of Attends.”

The acquired business will be presented as a new reportable segment in Domtar’s financial statements filed to the Securities and Exchange Commission starting in the quarter following the closing of the transaction. Domtar will use cash on hand to pay for the acquisition and intends to redeem most of Attends’ outstanding debt upon closing of the transaction.

About Domtar

Domtar Corporation (NYSE/TSX:UFS) is the largest integrated manufacturer and marketer of uncoated freesheet paper in North America and the second largest in the world based on production capacity, and is also a manufacturer of papergrade, fluff and specialty pulp. The Company designs, manufactures, markets and distributes a wide range of business, commercial printing and publishing as well as converting and specialty papers including recognized brands such as Cougar^®, Lynx^® Opaque Ultra, Husky^® Opaque Offset, First Choice^® and Domtar EarthChoice^® Office Paper, part of a family of environmentally and socially responsible papers. Domtar owns and operates Ariva^TM, an extensive network of strategically located paper distribution facilities. The Company employs approximately 8,500 people. To learn more, visit www.domtar.com.

Forward-Looking Statements

All statements in this news release that are not based on historical fact are “forward-looking statements.” While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under the captions “Forward-Looking Statements” and “Risk Factors” of the latest Form 10-K filed with the SEC as periodically updated by subsequently filed Form 10-Q’s. Unless specifically required by law, we assume no obligation to update or revise these forward-looking statements to reflect new events or circumstances.

As the US economy slowly recovers, the wine industry is regaining its momentum to mark the 17th consecutive year of case gains.  This positive direction is directly attributed to the improving economy and the resulting increase in consumer confidence.  Consumers are beginning to spend again and competition in the marketplace is fierce.  According to the Beverage Information Group’s recently released 2011 Wine Handbook, overall wine consumption rose 2.1% to 303.1 million 9-liter cases in 2010.

The dollar’s weaker value has resulted in a good market for exports.  Imports continue to be outpaced by their domestic counterparts.  This trend has been seen over the past several years partially due to currency issues shrinking importers’ margins.  Domestics rose 3.0% to 229.4 million cases, and imported wines lost 0.9% to end the year at 73.6 million cases.  In addition, Australian wines were down by 12.5%, and wine imports from Italy have taken the lead.

According to the 2011 Wine Handbook, consumers are slowly returning to dining out.  Total wine dollars grew to $26.9 billion last year with on-premise accounting for 44.1%.  This is a gain of 2.5% from 2009 and a change from the previous two years when the recession directly effected on-premise sales.

“The future of the wine industry looks bright,” says Eric Schmidt, Manager of Information Services for the Beverage Information Group based in Norwalk, Conn.  ”Overall wine consumption is expected to increase over the next five years to 321.9 million cases.”

The 2011 Wine Handbook is the leading source for U.S. wine sales and consumption trends. It includes wine consumption analysis; the top 50 metro markets; supplier performance; advertising expenditures; consumer drinking preferences; and economic/demographic data.

The cost of the 2011 Wine Handbook is $815; handbook with CD is $985. Shipping and handling is $10 for U.S. residents, $20for all international orders. The handbook and CD can be purchased at www.bevinfostore.com or by calling Cynthia Porter at (630) 762-8709.

About the Beverage Information Group

The Beverage Information Group, a division of M2MEDIA360, serves all segments of the beverage alcohol industry through Cheers, Beverage Dynamics and StateWays magazines, statistical Handbooks, Beverage Research and www.bevinfogroup.com.

Contacts:

Beverage Information Group
Eric Schmidt, Manager of Information Services
eschmidt@m2media360.com

Cynthia Porter, Handbook Sales Executive
630-762-8709
cporter@m2media360.com
www.bevinfostore.com

SpyderLynk, a leading mobile marketing technology company and creator of the SnapTag™, a logo-centric 2D mobile barcode, announced today that Toyota Motor Sales U.S.A., Inc., is widely adopting SpyderLynk’s cutting edge 2D mobile barcode technology across multiple marketing and branding initiatives to engage consumers throughout the United States.

“We’re delighted that Toyota is adopting the SnapTag across so many marketing channels and using it in so many innovative ways”

Evolution of the QR Code

The Quick Response (QR) Code was created in 1994 by Toyota subsidiary Denso-Wave and was initially used to track parts for vehicle manufacturing – and, at the time, was considered ahead of the curve in inventory management innovation. Flash forward 17 years, Toyota sought a barcode technology to extend their marketing efforts and get ahead of the innovation curve. With the adoption of SpyderLynk’s SnapTag™ branded 2D mobile barcode technology, dubbed the “ToyoTag,” Toyota delivers customized marketing campaigns to on-the-go mobile consumers while creating valuable one-to-one mobile relationships with them.

Toyota Couples Innovation and Marketing Savvy to Reach Consumers

With a culture of innovation, Toyota sought a solution that would allow them go beyond the capabilities of the QR Code to truly connect with their consumers, providing them with compelling, easy-to-access, content-rich information. Enter SpyderLynk and the SnapTag.

“We’re delighted that Toyota is adopting the SnapTag across so many marketing channels and using it in so many innovative ways,” said Nicole Skogg, SpyderLynk Founder and CEO. “They are truly unlocking the potential of this new technology and their full scale adoption of SnapTags puts them in a position to optimize their engagement and relationship models.”

Toyota is adopting the SnapTag technology with a newly-coined name, the ToyoTag. Consumers with any camera phone can snap and send ToyoTags, while those with iPhone and Android devices can download the SnapTag Reader and scan to get the information, promotion or content that Toyota is offering. ToyoTags put consumers in the driver’s seat, as they get to choose if, how, and when they want information.

“ToyoTags enable consumers to engage with us wherever and whenever they want information,” said Michael K. Nelson, Interactive Communications Marketing Manager at Toyota. “Our goal is to develop campaigns and content that best meet the needs of customers at different stages of the purchase cycle. We looked at different 2D mobile barcode solutions and chose SpyderLynk’s SnapTags because they provide the most sophisticated marketing capabilities and analytics tools, coupled with a simple user-interface.”

Powering the ToyoTags is SpyderLynk’s Smart Marketing Platform which provides Toyota with the opportunity to customize campaigns using sophisticated algorithm-driven responses that are contextual and can be based upon a myriad of factors – or more simply said, Toyota can use smart marketing at its finest to engage in true one-to-one conversations to build brand awareness and loyalty. From providing vehicle and safety information, vehicle quotes and vehicle care information to offering mobile giving campaigns like the Japanese Tsunami Relief Fund and the US Tornado Relief Fund, Toyota is embracing mobile in a big way. ToyoTags are being prominently used to engage consumers through print publications, online portals – including the company’s website – and on product display signs at events such as the LA and Detroit Auto Shows.

About SpyderLynk

SpyderLynk activates branding to drive marketing results. SpyderLynk, the creator of the branded, algorithm-driven SnapTag™, enables brands such as Coke Zero, Revlon, L’Oreal, MillerCoors, Warner Brothers, Toyota, Bud Light and others to engage consumers and accelerate purchase cycles. SnapTag technology turns brand logos, featured on any type of packaging, advertising, signage or screens, into interactive marketing tools. Consumers with smart or standard camera phones can activate SnapTags to instantly access offers, content, promotions, and information. Based in Denver, Colorado, SpyderLynk was founded in 2006 and can be found online at www.spyderlynk.com.

About Toyota

Toyota Motor Sales (TMS), U.S.A., Inc. is the marketing, sales, distribution and customer service arm of Toyota, Lexus and Scion. Established in 1957, TMS markets products and services through a network of nearly 1,500 Toyota, Lexus and Scion dealers which sold more than 1.76 million vehicles in 2010. Toyota directly employs nearly 30,000 people in the U.S. and its investment here is currently valued at more than $18 billion

For more information about Toyota, visit www.toyota.com, www.lexus.com, www.scion.com or www.toyotanewsroom.com.

Pedego®, the US-based electric bike company known for using top-of-the line components and sleek, comfortable styling is growing at an unprecedented rate and in the company’s brief two-year history has catapulted to the second place overall sales position for electric bike brands in the United States and earned a 5-star status on RatePoint.com.

Pedego was the combined efforts of two baby boomer entrepreneurs Don DiCostanzo and Terry Sherry both with a vision to differentiate Pedego from all other e-bikes. They achieved this through sleek styling, advanced technology, top-of-the-line components and comfortable designs. The Pedego brand offers fun for people of all ages with a specific emphasis on the 40+ market. The zero-emissions bikes offer up to 30 miles per charge and pose significantly lower environmental impact than cars.

According to Pedego CEO, Don DiCostanzo, “We always knew that the best way to get people back on a bike was to create a comfortable ride with reliable parts and components. Everything from the Shimano gears to triple-coated durable finishes are among the best available in the industry. Our bikes are top-of-the line which is the main reason Tommy Bahama chose Pedego to design their line of electric bikes. Pedego offers Comfort Cruisers with powerful brushless, gearless hub motor and lightweight removable lithium battery pack that can run up to 30 miles per charge and can be recharged in about an hour. In addition, Pedego also has the Interceptor e- bike with a 500 watt, 48-volt battery and a proprietary electromagnetic motor. We will also be introducing new concepts at this year’s Interbike, September 14-16 in Las Vegas.”

Pedego recently signed two prominent distribution agreements with Clean Wheels, Ltd for all of Europe and Voltage Bikes of Canada.

When asked why he chose to distribute Pedego, Mike Clyde, of Canada’s Voltage Bikes explained, “We were looking for a high-quality brand, but one which also had some kind of ‘x-factor’ to differentiate it from the ever increasing number of electric bikes on the market. With Pedego, we found a range of bikes that excited us. These bikes look great! The customer response to the Pedego style has been wonderful … this is a bike that turns heads! But without the build quality to back it up, the equation wouldn’t be complete. Chatting to existing Pedego dealers and reading online forums confirmed that Pedego has an excellent reputation for reliability and service. After putting the bike through its paces on the steep streets of Nelson, BC, we were sold. We tested the Classic Cruiser and it was a joy to ride! Based on the initial responses from potential dealers, we expect the number of Canadian Pedego dealers will be increasing rapidly over the next few months. We are extremely excited to be bringing the Pedego brand to Canada, and think that the great success that the bikes have had in the States will be mirrored here.”

Dan Robinson of Clean Wheels, Ltd based in London commented, “I was initially attracted to the product line through their website because it was so different from any other electric bike company. The entire process from our initial contact with owners Don and Terry to delivery of the first Pedego bikes reinforced that this was a company with high quality products and high integrity.”

ABOUT PEDEGO®

Pedego® is fast becoming the market leader by creating the coolest and most fashionable electric bicycles outfitted with the latest in electric bike technology. Through our chic, stylish designs partnered with a built-in electric hub motor, Pedego® offers a cost-effective and green alternative for transportation, exercise and recreation. Pedego® Bicycles are perfect for anyone who enjoys the fun of cycling and experiencing the outdoors. Pedego bikes are available for sale throughout the US, Europe and online. Pedego® hello, fun!

WM Recycle America, L.L.C., a subsidiary of Waste Management, Inc. (NYSE: WM), the largest waste services and residential recycling company in North America, today announced it has acquired Access Computer Products, Inc., a leading provider of cell phone, ink and toner cartridge, and consumer electronics reverse logistics, remarketing, and recycling services. Mordell, LLC, a re-commerce partner responsible for refurbishing and selling used computer equipment obtained through Access and other third party suppliers, was also acquired by WM Recycle America.

The acquisition of the Loveland, CO-based Access Computer Products will further strengthen Waste Management’s position as a leader in the recycling of e-waste, which is one of the fastest growing commodities in the waste stream. Consumers will gain access to Waste Management’s recycling and reuse program. For additional information and pricing please visit www.mordell.net.

“Waste Management is committed to providing solutions to our customers for managing their electronic waste,” said Pat DeRueda, president of WM Recycle America. “This acquisition will expand Waste Management’s presence in the growing electronics recycling and re-commerce market and provide an additional high value service to our customers.”

Electronics recycling is a fast-growing industry that creates high-paying, green jobs.  Twenty-six states have mandated e-waste recycling programs and consumers increasingly trade up to newer models of mobile phones, computers, and other consumer electronics. According to the 2011 Electronics Recycling Industry Survey®, the US electronics recycling industry continues to show tremendous growth and strong domestic capacity.

The $5-billion-a-year industry, which employs more than 30,000 full-time workers in the U.S., collected and processed over 3.5 million tons of used and end-of-life electronics equipment in 2010, up from 1.8 million tons in 2009.

“Waste Management is committed to maximizing the value of the components in electronic materials as well as other materials it manages,” added DeRueda.

This acquisition complements WM’s other ecycling operations and will contribute to Waste Management’s sustainability goal of tripling the amount of material it recycles to 20 million tons by 2020.

The terms of the deal were not disclosed.

About Waste Management

Waste Management, Inc., based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is also the largest residential recycler and a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the United States. The company’s customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management visit http://www.wm.com or www.thinkgreen.com.

WM Recycle America is a subsidiary of Waste Management and is the largest residential recycler in North America. WM Recycle America’s business lines include processing many types of consumer-generated recyclables and finding the best markets for the recyclable commodities produced. In its capacity of providing processing and marketing services, WM Recycle America offers a wide variety of recycling options for municipal, manufacturing, commercial and residential customers.

The Dodge brand earned three awards as the Dodge Challenger, Charger and Durango led their segments in the J.D. Power and Associates 2011 Automotive Performance, Execution and Layout (APEAL) Study(SM).

The Dodge Charger ranked highest in the Large Car segment and was the most improved model in the industry. The Dodge Challenger scored highest in the Midsize Sporty Car class and Dodge Durango took the top spot in the Midsize Crossover/SUV segment.

The Jeep® brand improved by 32 points and Chrysler increased by 27 points compared to the industry’s average improvement of three points.

“We’ve listened to our customers and made significant improvements across the product line, launching 16 all-new or extensively updated vehicles in the past year,” said Doug Betts, Senior Vice President — Quality, Chrysler Group. “We worked very hard to make our vehicles truly competitive with the best vehicles in their respective segments. It’s nice to see this effort being recognized by our customers.”

According to J.D. Power and Associates, vehicles with high APEAL scores generate faster sales, higher profit margins, and less need for cash incentives. High levels of vehicle appeal also influence customer recommendation rates.

In the recently announced J.D. Power and Associates 2011 Initial Quality Study (SM) (IQS), the Dodge Challenger and the Chrysler Town & Country ranked highest in their respective segments for initial quality.

The APEAL Study examines how gratifying a new vehicle is to own and drive, based on owner evaluations of more than 80 vehicle attributes. Unlike IQS, which measures short-term quality, the APEAL Study identifies consumer likes and dislikes about their vehicle during the first 90 days of ownership, particularly regarding vehicle design, content, layout and performance.

“Different customers have different opinions about what makes a quality vehicle,” Betts explained. “At Chrysler Group, we define and measure six different types of quality. We’ve set aggressive internal targets and our progress is starting to show up in third-party surveys as well.”

About J.D. Power and Associates

Headquartered in Westlake Village, Calf., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, training and customer satisfaction. The firm’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on cell phone ratings, car reviews and ratings, car insurance, health insurance and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About Chrysler Group LLC

Chrysler Group LLC, formed in 2009 from a global strategic alliance with Fiat, S.p.A., produces Chrysler, Jeep®, Dodge, Ram, Mopar®, SRT and Fiat vehicles and products. With the resources, technology and worldwide distribution network required to compete on a global scale, the alliance builds on Chrysler Group’s culture of innovation – first established by Walter P. Chryslerin 1925 – and Fiat’s complementary technology – from a company whose heritage dates back to 1899.

Headquartered in Auburn Hills, Mich., Chrysler Group’s product lineup features some of the world’s most recognizable vehicles, including the Chrysler 300, Jeep Wrangler and Ram Truck. Fiat contributes world-class technology, platforms and powertrains for small- and medium-size cars, allowing Chrysler Group to offer an expanded product line including environmentally friendly vehicles.

Novelis, the world’s largest producer of rolled aluminum, today announced it will invest approximately $200 million to expand its rolling operations in Oswego, NY, in response to escalating demand for aluminum sheet in the United States. The expansion will result in a capacity increase of 200 kt, five times the company’s North America capacity for producing aluminum sheet for the automotive industry.

Novelis is the world leader in aluminum automotive sheet, with more than 50 percent of the global market share for aluminum sheet used for making structural components and exterior body panels. Novelis aluminum can be found in 117 different vehicle models produced by leading automakers around the globe.

“We are proud to continue building upon our leadership in providing technically innovative aluminum sheet for the global automotive market,” said Philip Martens, President and CEO of Novelis. “As the world’s number one supplier of auto sheet, we are in a unique position to support the growing demand from automakers for the use of lighter weight materials in new vehicle designs. This world class expansion will provide these customers with highly engineered aluminum sheet designed to significantly improve the fuel economy and reduce emissions of new vehicles currently in development, while also reducing the lifecycle carbon footprint of their overall operations.”

Aluminum is the sustainable choice for vehicles because of its recyclability and low weight. Lighter weight vehicles are a major part of the solution to the challenge that auto makers face in reducing emissions and improving fuel economy. Novelis will construct two new high-performance aluminum processing lines for automotive applications. The Oswego facility is an integrated recycling, hot rolling and cold rolling complex producing aluminum sheet for the beverage can, automotive and building construction industries.

The move reinforces Novelis’ sustainability commitment to reduce its carbon footprint as well as those of its customers. Cars made with more aluminum use less fuel and produce less greenhouse gas emissions. Novelis will also make a strong effort to include recycling initiatives into all new sheet contracts.

Novelis expects to hire approximately 100 new employees at Oswego over the next two years leading to start-up of the new equipment in the summer of 2013.

“Job growth and economic development are key to revitalizing New York’s economy and have been a top priority for my administration,” said Governor Andrew Cuomo. “Our goal is to make New York one of the most business friendly states in the nation. I congratulate Novelis on their expansion and applaud them for creating over 100 new jobs for the people of Oswego.”

In addition to incentives from the State of New York and Empire State Development, the County of Oswego Industrial Development Agency is providing additional support.

The global automotive sector is transforming the vehicle manufacturing process to contain larger percentages of aluminum sheet, causing higher demand for the material. To meet new fuel economy standards, North American auto makers are using more aluminum in cars to make them lighter and more fuel efficient without affecting size. New regulations in development by the U.S. Department of Transportation and the U.S. Environmental Protection Agency are challenging automakers to boost the fuel economy of their vehicles to around 35.5 miles per gallon by 2016 and reduce emissions.

Fact sheets on Novelis, the company’s work in automotive, the Oswego plant, photos and B roll can be found in the novelis.com media center at http://www.novelis.com/en-us/Pages/Press-Kits.aspx.

Forward-Looking Statements

Statements made in this news release describing Novelis’ intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Examples of forward-looking statements in this news release include those regarding Novelis’ expectations about the anticipated capacity increase resulting from our investment and the expected completion date of the project.  Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. Important risk factors which could impact outcomes are included under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended March 31, 2011.

About Novelis

Novelis Inc. is the global leader in aluminum rolled products and aluminum can recycling.  The Company operates in 11 countries, has nearly 11,000 employees and reported revenue of $10.6 billion in fiscal year 2011.  Novelis supplies premium aluminum sheet and foil products to automotive, transportation, packaging, construction, industrial, electronics and printing markets throughout North America, Europe, Asia, and South America.  Novelis is a subsidiary of Hindalco Industries Limited (BSE: HINDALCO), one of Asia’s largest integrated producers of aluminum and a leading copper producer.  Hindalco is a flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai, India.  For more information, please visit www.novelis.com.

SOURCE Novelis Inc.

According to a new survey of retail goods manufacturers and importers, consumer goods at retail are likely to rise by 10 – 15 percent later this spring and into the summer, particularly in the apparel and home furnishings segments.

The increases are due to spikes in commodities and logistics costs. 94.4 percent of those surveyed believe that the increased cost of cotton will affect the cost of high cotton content products such as sheets, t-shirts and socks, this spring and summer with almost half (44.4 percent) expecting prices of high cotton content products to increase by 10 percent or more.

The survey polled over 70 manufacturers and importers, and was conducted throughout the week of March 14, 2011.

Additional key findings in the survey included: more than half (62 percent) of respondents said that their logistics costs have increased by more than 5 percent in the past year. Of those who identified an increase in logistics costs, almost two-thirds (64.1 percent) are passing at least some portion of the increased cost along to the retailer and consumer, causing retail prices to escalate even more. For manufacturers and importers the rise in oil prices (89.6 percent) as well as the conflicts in Egypt and Libya (62.5 percent) is the driving force behind this increase.

The Global Retail Manufacturers and Importers Survey, conducted by Capital Business Credit LLC (CBC) (www.capitalbusinesscredit.com), a global integrated financial products and services company with an emphasis in the retail sector, surveyed manufacturers and importers in the apparel, housewares, home furnishings, fashion accessories and furniture industries, who manufacture some, if not all, of their products in China, India, Vietnam, Bangladesh and Pakistan.

“Speculation of inflation has haunted the global economy since the recovery began.  This fear has been due in part, to the rising cost of raw materials. We now have concrete proof that the cost of raw materials correlates to higher consumer prices. At CBC, we believe this is a sustained change that will continue into the fall season and beyond,” said Andrew Tananbaum, executive chairman of Capital Business Credit.

Cotton

94.5 percent of respondents have seen an increase in the cost of raw materials over the last 12 months. To combat the increased cost of raw materials, 88.9 percent will be replacing some of the cotton content in their products with rayon and others with Lycra (11 percent).  More than a quarter (27.8 percent) of those who have high-cotton content products will vary the cut or design of their products to use less raw material. The increased cost of raw materials will effect all points of the retail supply chain as more than half (57.1 percent) of those surveyed said that manufacturers, importers, retailers and consumers will all be absorbing the price increases.

Logistics

The CBC survey also identified that the skyrocketing cost of logistics – due in large part to the rising cost of oil – is a major cost concern (80 percent) for importers and manufacturers. 62 percent of respondents said that logistics costs have increased by more than 5 percent in the last 12 months and over half (54.2 percent) cited oil as the cause of increased logistics costs of 5 percent or more.

To deal with the increased cost of logistics, 35.9 percent of manufacturers and importers are absorbing the cost, 28.2 percent are passing along this cost to the retailer/customer and 35.9 percent are absorbing some of the cost as well as passing some of the cost along.

“The rising cost of logistics will have a significant effect on manufacturers, importers, retailers and consumers. Margins will be cut and prices will increase, causing stresses and cracks along the entire supply chain. Current events will only amplify these already existing problems,” commented Tananbaum. “The findings of the CBC survey reveal that there has been a fundamental shift in the marketplace and that this will have a direct impact on the everyday consumer. The increased costs of logistics and raw materials have created the perfect storm whose elements will be visible this spring and summer.”

About Capital Business Credit

Established in 1988, Capital Business Credit LLC (www.capitalbusinesscredit.com) is a commercial finance company specializing in providing creative supply chain financing solutions.  The Company’s service offerings include: full-service factoring; accounts receivable management services; inventory lending; asset-based lending; and international financing.  CBC Trade Finance, a division of CBC, provides trade finance solutions for U.S.-based importers working with Asia-based suppliers (exporters). Capital Business Credit is based in New York, with offices in Hong Kong; Shanghai, Los Angeles; Charlotte, NC; and Ft. Lauderdale, Fla.

• Net Production Volumes for the Quarter Increased by 12% Over the Prior Year Period and 4% Sequentially to an Average of 92,000 Mcfe per Day
• Per Unit Lease Operating Expense (LOE) for the Quarter Decreased by 19% Versus the Prior Year Period and 16% Sequentially to $0.76 per Mcfe. Total Recurring Per Unit Operating Expense Reduced by 27% from the Prior Year Period and 13% Sequentially
• EBITDAX for the Quarter Increased by 12% Sequentially to $26.9 Million
• Haynesville Shale (Shelby Trough)
• Initial Well in Nacogdoches/Angelina County area, the SW Henderson 1H, encountered 215 feet of Haynesville Shale and 200 feet of Bossier Shale Prospective
• Initial Well in Shelby County, the R. Dean 1H, encountered 126 feet of Haynesville Shale and 188 feet of Bossier Shale Prospective
• Eagle Ford Shale Play
• Initial Well Completed in the Buda Lime Formation with a 24-Hour Initial Production Rate of 530 Barrels of Oil Equivalent (BOE) Per Day, and a 30-day Average Rate of 435 BOE per day
• Initial Well in the Eagle Ford Shale, the Pan Am B 1H in Completion Phase
• Company Maintains its $255 Million Capital Expenditure Budget, with Current Liquidity of $256 Million

HOUSTON  (Profitable.com)  Goodrich Petroleum Corporation (NYSE: GDP) today announced its financial and operating results for the second quarter ended June 30, 2010.

PRODUCTION

Net production volumes in the quarter increased by 12% to 8.4 billion cubic feet equivalent (“Bcfe”), or an average of approximately 92,000 Mcfe per day, versus 7.5 Bcfe, or an average of approximately 82,100 Mcfe per day in the prior year period.  Average net daily production volumes for the quarter increased 4% sequentially.  During the second quarter, the Company completed and added 8 gross (4 net) wells to production compared to 6 gross (2 net) wells during the first quarter.

The Company expects net daily production volumes to average between 94,000 – 98,000 Mcfe per day in the third quarter of 2010.

NET INCOME

Net income applicable to common stock for the quarter was a loss of $23.1 million, or ($0.64) per share, versus a loss of $36.5 million, or ($1.02) per share for the prior year period.  During the quarter, net income applicable to common stock was positively impacted by both higher production volumes and lower operating costs relative to the prior year period.  As the Company fully valued its net deferred tax asset at the end of 2009, the Company is using an effective tax rate of zero for the full year 2010.  Thus, there was no income tax benefit applied to the loss in the second quarter of 2010.

CASH FLOW

Earnings before interest, taxes, DD&A and exploration (“EBITDAX”) for the quarter, decreased by 28% to $26.9 million compared to $37.3 million in the prior year period (see accompanying table for a reconciliation of EBITDAX, a non-GAAP measure, to net cash provided by operating activities).  EBITDAX was up 12% sequentially over the first quarter of 2010 on increased production volumes and lower operating costs.

Discretionary cash flow (“DCF”), defined as net cash provided by operating activities before changes in working capital, decreased by 34% to $22.0 million in the quarter from $33.0 million in the prior year period (see accompanying table for a reconciliation of DCF, a non-GAAP measure, to net cash provided by operating activities).  DCF increased 114% sequentially from $10.2 million reported during the first quarter of 2010.  Net cash provided by operating activities was $28.9 million for the quarter, up from $27.1 million in the prior year period.  DCF and net cash provided by operating activities included a realized gain of $7.7 million on natural gas derivatives in the second quarter of 2010, compared to the $27.2 million realized gain on natural gas derivatives in the prior year period.

REVENUES

Total revenues for the quarter increased by approximately 30% to $34.2 million compared to $26.3 million for the prior year period.  Revenues were positively impacted by production volume growth of 12% over the prior year period and higher realized prices of $4.07 per Mcfe versus $3.51 per Mcfe in the prior year period.  Total revenues and average prices received in the quarter and the prior year period do not include realized gains of $7.7 million and $27.2 million respectively, received on the Company’s settled natural gas derivatives, none of which were designated as hedges during the second quarters of 2010 and 2009.

The Company continued to positively benefit from its hedging program during the second quarter.  Revenue, adjusted for the impact of net realized gains on natural gas derivatives of $7.7 million, for the second quarter of 2010 was $41.9 million.  Taking into account the impact of derivatives, the Company realized approximately $4.98 per Mcfe of production for the second quarter of 2010 (see accompanying table titled “Select Operating Data” for additional disclosure on these adjustments).

OPERATING INCOME

Operating income (loss) (defined as revenues less lease operating expense, production taxes, transportation, DD&A, exploration and general and administrative expenses), was a loss of $12.8 million for the quarter, versus a loss of $53.9 million for the prior year period.  The primary reason for the decrease in operating loss from the prior year period was increased revenue, coupled with lower lease operating expense, production taxes, transportation expense, as well as a 31% reduction in per unit DD&A expense.  Operating income (loss) during the prior year period was negatively impacted by a $23.5 million asset impairment.  Operating income (loss) does not include the realized gain of $7.7 million on natural gas derivatives in the quarter.

OPERATING EXPENSES

Lease operating expense (“LOE”) decreased by 9% to $6.3 million in the quarter versus $7.0 million in the prior year period.  LOE decreased by 19% on a per unit basis to $0.76 per Mcfe in the quarter from $0.94 per Mcfe in the prior year period.  Sequentially, per unit LOE decreased by 16% compared to $0.91 per Mcfe in the first quarter of 2010.  The lower per unit LOE was primarily driven by reduced salt water disposal and compression costs, as well as higher per well production volumes and lower costs from the Company’s increasing Haynesville Shale production, which comprised approximately 50% of the Company’s production volumes for the second quarter of 2010.

Production and other taxes decreased by 63% to $0.4 million in the quarter versus $1.0 million in the prior year period. Production and other taxes decreased by 64% on a per unit basis to $0.05 per Mcfe in the quarter from $0.14 per Mcfe in the prior year period.  Per unit production and other taxes decreased 58% sequentially from $0.12 per Mcfe in the first quarter of 2010.

Transportation expense decreased by 16% to $2.2 million in the quarter versus $2.6 million in the prior year period.  Transportation expense decreased by 26% on a per unit basis to $0.26 per Mcfe in the quarter from $0.35 per Mcfe in the prior year period.  Per unit transportation expense decreased 16% sequentially from $0.31 per Mcfe in the first quarter of 2010.

Depreciation, depletion and amortization (“DD&A”) expense decreased to $28.4 million ($3.39 per Mcfe) for the quarter from $36.5 million ($4.89 per Mcfe) from the prior year period, which represents a 31% decrease on a per unit basis.  Per unit DD&A for the quarter decreased 11% sequentially, primarily due to a greater amount of production coming from the Company’s lower cost Haynesville Shale properties.

Exploration expense decreased by 11% to $2.6 million versus $3.0 million in the prior year period.  Exploration expense during the second quarter of 2009 included early termination fees of $1.1 million for two drilling rigs.  The impact of this decrease during the current period was partially offset by $0.4 million in exploratory seismic costs for the Company’s 3-D seismic program in the Angelina River Trend area.  Per unit exploration expense decreased sequentially by 16% to $0.31 per Mcfe.

General and administrative (“G&A”) expenses totaled $7.0 million for the quarter, or $0.84 per Mcfe, versus $6.7 million, or $0.90 per Mcfe, during the prior year period.  Per unit G&A decreased by 7% over the prior year period and 29% sequentially.  On a sequential basis, G&A expense was lower primarily due to additional expenses for bonus payments and the resignation of an officer during the previous quarter.  G&A expenses for the second quarter of 2010 included $1.5 million of non-cash stock based compensation costs compared to $1.6 million during the prior year period.

INTEREST EXPENSE

Interest expense increased to $9.2 million in the quarter from $5.3 million in the prior year period, due primarily to additional interest associated with the Company’s 5% convertible senior notes issued in September 2009.  Of the $9.2 million in interest expense for the quarter, only $4.5 million represents ongoing cash interest expense.  The remaining $4.7 million represents non-cash charges related to the amortization of debt discounts and deferred financing costs associated with the Company’s convertible notes (as required by APB 14-1), resulting in a reduction of $55.4 million in long term debt on the balance sheet as of June 30, 2010.

DERIVATIVES

The Company recorded a gain on derivatives not designated as hedges during the second quarter of 2010 of $0.3 million, which includes a realized gain on natural gas derivatives of $7.7 million and an unrealized loss on natural gas derivatives of $7.4 million.  The second quarter also includes a realized loss of $0.5 million and an unrealized gain of $0.5 million on the Company’s interest rate swap which ended in April 2010 (see accompanying table titled “Supplementary Information” for additional disclosure on these adjustments).

LIQUIDITY

The Company exited the quarter with $56.5 million in cash and short term investments and $200 million of available borrowing capacity under its bank credit facility.  The Company believes that its strong liquidity position of $256 million, along with cash flow from operations, provides ample liquidity to fund the Company’s development plans through 2011.

CAPITAL EXPENDITURES

Capital expenditures for the quarter totaled $80.0 million, compared to $65.3 million in the prior year period.  Of the $80.0 million in capital expenditures for the quarter, approximately $56.6 million, or 71% of the total was associated with the drilling and/or completion of 22 gross (12 net) wells.  Additionally, the Company spent approximately $21.5 million on leasehold acquisitions (with approximately $20.0 million spent in the Eagle Ford Shale play) and $1.9 million on recompletions and other capital expenditures.

The Company conducted drilling operations on 15 gross (9 net) wells in the quarter, with 8 gross (4 net) wells added to production, with a 100% success rate.  As of June 30, 2010, 14 gross (7 net) wells were cased and waiting on completion.

During the quarter, the Company had three operated and four non-operated rigs working in the area of East Texas and North Louisiana.  For the remainder of the year, the Company anticipates a total of three operated rigs running, with two in East Texas and the North Louisiana region and one in the Eagle Ford Shale oil play in South Texas, along with two non-operated rigs working in North Louisiana.

OTHER – LITIGATION UPDATE

In the first quarter of 2010, the Company accrued $8.5 million in expense related to a judgment in a case filed in Louisiana state court in Caddo Parish, Louisiana.  The case involves a dispute over the interpretation of a “most favored nations” provision and a separate oil and gas lease taken by a sub-lessee of the Company.  Subsequent to the end of the second quarter, the Company and the sub-lessee executed an agreement whereby the sub-lessee agreed to reimburse the Company for one-half of any sums for which the Company may be cast in judgment in this lawsuit in any final non-appealable judgment, and further agreed to reimburse the Company for 50% of the cash bond posted on appeal.  The effect will be a $4.25 million credit to the Company in the third quarter of 2010 for the previously taken expense during the first quarter of 2010.

OPERATIONAL UPDATE

The Company conducted drilling operations on 15 gross (9 net) wells in the quarter, with 8 gross (4 net) wells added to production, with a 100% success rate.  As of June 30, 2010, the Company’s backlog of net wells drilled and waiting on completion increased sequentially to 14 gross (7 net) wells.

Haynesville Shale – Shelby Trough

The Company has drilled and logged its SW Henderson 1H (100% WI) well in Angelina County, Texas, with an estimated 215 feet of Haynesville Shale and 200 feet of Bossier Shale prospective in the well.  The Company is currently drilling the lateral and is anticipating completing the well in early September.

The Company has also drilled and logged its R Dean 1H (80% WI) well in Shelby County, Texas, with an estimated 126 feet of Haynesville Shale and 188 feet of Bossier Shale prospective.  The Company has reached total depth on the lateral in the Haynesville Shale and is currently moving the rig to drill its R Dean 2H (80% WI), which it anticipates will be its initial Bossier Shale completion.

South Texas Eagle Ford Shale Oil Play

As previously announced, the Company has entered into agreements to acquire approximately 50,000 gross (35,000 net) acres in the oil window of the Eagle Ford Shale play in LaSalle and Frio Counties, Texas.  Currently, the Company estimates its acreage position in the play at approximately 37,500 net acres.  The Company has drilled or participated in the drilling of the Goodrich Petroleum Company – Pan Am B 1H, formerly known as the Francis Shiner B-1 (80% WI), and the Blackbrush Oil & Gas – Pals Ranch 9H (50% WI) targeting the Buda Lime formation, which sits directly below the Eagle Ford Shale.  The Pan Am B-1H, which is a horizontal Eagle Ford Shale well with a lateral length of approximately 4,700 feet, is currently in completion phase.  The Pals Ranch 9H was completed without stimulation as an open-hole completion with an initial 24-hour production rate of 530 BOE (77% oil) and a 30-day average rate of 435 BOE/day.  By year-end, the Company expects to have conducted drilling operations on approximately four gross wells targeting the Eagle Ford Shale and three gross wells targeting the Buda Lime formation.

South Henderson: Cotton Valley Taylor Sand Play

The Company has drilled and completed its Pone 6H horizontal well in the Taylor Sand.  The well was drilled with a lateral of approximately 4,200′, however, the well experienced numerous mechanical problems during the completion phase and as a result, the well is currently only producing from approximately 19% of the lateral.  The well is in early stages of flow back at a current rate of 1,000 Mcf per day on a 21/64 inch choke with 665 psi.  The Company’s second horizontal Cotton Valley Taylor Sand well in the South Henderson Field, the Goodrich Petroleum Company – Craig 2H, is expected to spud in late August 2010.

MANAGEMENT COMMENTS

Commenting on the second quarter results, Walter G. “Gil” Goodrich, Vice-Chairman and CEO stated, “During the second quarter, we made tremendous progress on almost every front.  Our initial delineation efforts in both the Eagle Ford Shale and Shelby Trough are extremely encouraging and we anticipate positive follow-on results in the coming months.  Our core Haynesville Shale activities again delivered outstanding results, which lead to very strong production growth in the quarter.  In addition, we had an exceptional quarter on reducing per unit operating costs across the board, led by a 16% sequential decline in lease operating expense and an 11% decline in DD&A due primarily to our attractive finding cost in the Haynesville Shale.  Even in the current environment, we are confident we will deliver solid growth and additional asset value creation in the second half of the year.”

OTHER INFORMATION

In this press release, the Company refers to two non-GAAP financial measures, EBITDAX and   discretionary cash flow.  Management believes that each of these measures is a good financial indicator of the Company’s ability to internally generate operating funds.  Management also believes that these non-GAAP financial measures of cash flow provide useful information to investors because they are widely used by professional research analysts in the valuation and investment recommendations of companies within the oil and natural gas exploration and production industry.  Neither discretionary cash flow nor EBITDAX should be considered an alternative to net cash provided by operating activities, as defined by GAAP.

Certain statements in this news release regarding future expectations and plans for future activities may be regarded as “forward looking statements” within the meaning of the Securities Litigation Reform Act.  They are subject to various risks and uncertainties, such as availability of drilling rigs and completion crews and equipment, financial market conditions, operating hazards, drilling risks, and the inherent uncertainties in interpreting engineering data relating to underground accumulations of oil and gas, as well as other risks discussed in detail in the Company’s Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.  Although the Company believes that the expectations reflected in such forward looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.

Initial production rates stated in this release are expected to differ substantially from longer term average production rates.  Forward looking estimates of production growth assume drilling results comparable to recent prior periods, which may not be realized.  The Company is commencing its initial operations in the Eagle Ford Shale and the success of its drilling and completion strategy is subject to more uncertainty relative to areas where the Company has already established drilling and production history.

Goodrich Petroleum Corporation is an independent oil and gas exploration and production company listed on the New York Stock Exchange.  Substantially all of its properties are located in Louisiana and Texas.

MENTOR, Ohio  (Profitable.com)  Avery Dennison Corporation (NYSE: AVY) has named Darrell Hughes as its new vice president and general manager for Fasson Roll North America. Responsible for the strategic development and growth of the North American Roll Materials business, Hughes will spearhead initiatives targeting sales profitability through innovation and new products, differentiated service programs and value-added selling initiatives.

Hughes brings more than twenty years of business management and product development experience to his new position. He most recently was the president and general manager of SABIC Innovative Plastics, Specialty Film and Sheet Business, Mount Vernon, Ind. SABIC Innovative Plastics is a $6 billion division of Saudi Basic Industries Corporation (SABIC) and was formerly GE Plastics, which SABIC acquired in 2007.

“Darrell’s business development and market strategy experience provide an exceptionally strong point of leverage for Avery Dennison as a developer of innovative packaging solutions that address the needs and insights of our converter customers and their customers,” said Don Nolan, group vice president, Roll Materials.

Hughes holds a Bachelor of Science degree in chemical engineering from Bucknell University, Lewisburg, Penn., and a Master of Business Administration from the University of Chicago.

About Avery Dennison:

Avery Dennison (NYSE:AVY) helps make brands more inspiring and the world more intelligent. For 75 years the company has been a global leader in pressure-sensitive technology and materials, retail branding and information solutions, and organization and identification products for offices and consumers. A FORTUNE 500 company with sales of $6 billion in 2009, Avery Dennison is based in Pasadena, California and has employees in over 60 countries. A division of Avery Dennison, Roll Materials manufactures and markets products under the well-known Fasson® brand name, including pressure-sensitive and non-adhesive coated papers, films and foils. Roll Material products are widely used in brand identity, bar-code labeling systems, product identification and other applications by label converters and consumer product companies. For more information, visit www.averydennison.com or www.fasson.com.

The Dirty Jobs creator and star is teaming with the company to showcase Caterpillar Customers, Dealers and Employees

PEORIA, Ill.  (Profitable.com)  Caterpillar Inc. (NYSE: CAT) has announced that it is partnering with Mike Rowe, the creator and star of the Discovery Channel’s Dirty Jobs and founder of mikeroweWORKS.com.  With Mike’s dedication to the trades and Caterpillar’s commitment to its customers, the two have joined forces to highlight the important and essential work Caterpillar customers perform everyday.  

Rowe will be spending time with Caterpillar customers and dealers to get a real world perspective on their jobs and how the two partner to be successful.  These encounters will be featured on cat.com and at Cat Dealerships across the country and will be used to demonstrate the solutions that Cat Dealers provide their customers throughout the lifecycle of their equipment, highlighting their superior parts and service support.

“When hard work is being performed and progress is being made, Mike wants to be in the thick of it, so teaming with him is an absolute perfect fit,” said Denny Vosberg, Caterpillar Parts and Service Support Manager.  ”Our dealer personnel are the best in the world and have been supporting our customers with their critical work for generations.  Now is the time to shine a light on it and Mike is going to help us with that.”  

Rowe, who calls himself a perpetual apprentice, has performed more than 300 jobs in locations around the country via his show, Dirty Jobs, which is currently one of the Discovery Channel’s most popular programs.  Mike is also the creator of mikeroweWORKS.com, a website dedicated to and for people in the trades to meet, discuss relevant topics and learn what is the latest in the industry.  He says his partnership with Caterpillar was “inevitable” because the two share the same work philosophy.

“I see Cat equipment and the hard working people operating it around the world, building and creating infrastructure,” said Rowe.  ”I’m excited to go beyond the machine and talk with the people who are actually making it happen.”  

More information can be seen on http://www.cat.com.    

About Caterpillar

For more than 85 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent.  With 2009 sales and revenues of $32.396 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.  The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.  More information is available at: http://www.cat.com.

About mikeroweWORKS

mikeroweWORKS is a PR campaign for hard work and skilled labor.  Its purpose is to call attention to the growing skills gap in the trades while providing a comprehensive resource for anyone looking to investigate a career in those vocations, as well as focus the country on the very real issues facing our trade workers and farmers.  In addition to the trade resource center, Mike has established the mikeroweWORKS Foundation to help fund scholarship programs and other initiatives that reinvigorate Trade School enrollments and industrial arts programs around the country. www.mikeroweWORKS.com.

NEW YORK  (Profitable.com)  Safetek International, Inc. (Pink Sheets: SFIN) announced today that it has acquired a controlling interest in Newave Packaging Inc., a Delaware Corporation and is attempting to secure working capital finance to develop and expand Newave Packaging’s business.  

Safetek seeks to introduce to the markets a new non-toxic and non-PVC food film packaging without known harmful trace elements, and other packaging products. Safetek International hopes to capture a share of the food packaging industry and aspires to set new standards for ‘green’ products used within the industry as a whole.  

Pursuant to the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, will join the board of Newave Packaging Inc. as President, Secretary and Treasurer. End Stefan Gudmundsson will continue as CEO of Newave Packaging Inc.

Commenting on the acquisition, the President of Safetek International, Inc., Shmuel Shneibalg, said that “This acquisition marks the start of our new business strategy, and we are extremely excited by the potential that Newave Packaging will bring to Safetek International’s growth plans.”

The CEO of Newave Packaging Inc., Stefan Gudmundsson, said: “In Safetek we have found a strong and supportive partner to help grow and expand our revolutionary new film packaging products and meet the demands of the food packaging industry for alternative more environmentally friendly products.”

About Safetek International, Inc.

The business plan of Safetek International, Inc. includes identifying, developing and managing business projects that Management believes show significant growth potential, including new green technologies and other ECO-Friendly sectors. The Company is undergoing a restructuring and refinancing in 2010 to foster the innovation and application of its ‘green’ initiatives.

Forward-Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

NEW ORLEANS  (Profitable.com)  Louisiana State University Endowed Chair of Banking and nationally-renowned economist Dr. Joseph R. Mason estimates that the first six months of the Obama administration’s moratorium on oil and natural gas exploration in the Gulf of Mexico will trigger a loss of more than 8,000 jobs, nearly $500 million in wages, and over $2.1 billion in economic activity in the Gulf region alone.

“The data are clear. The moratorium will cost the Gulf Coast region jobs, money, and economic development. In fact, the moratorium could be more costly, than the oil spill itself,” Dr. Mason said. ”The region is already struggling from devastating losses from Hurricane Katrina, Hurricane Gustav, and the nation’s depressed economy. By stifling one of the area’s primary economic engines, the administration is crippling the local economy and risking long term consequences.”

Dr. Mason’s paper, entitled “The Economic Cost of a Moratorium on Offshore Oil and Gas Exploration to the Gulf Region,” also outlined the “spill-over” effect the moratorium would have on the greater national economy. According to the study, the United States will see a net loss of 12,000 jobs in the six months – a number which could grow to 36,000 over the next year. Additionally, Dr. Mason estimates that the U.S. economy will lose about $2.8 billion in economic activity and the federal treasuries will lose about $220 million in lost tax revenue.

“We need to find ways to save U.S. energy jobs, not cut them,” president and CEO of the American Energy Alliance Tom Pyle said. ”The administration’s moratorium will devastate the economies of Louisiana, Texas, Mississippi, and Alabama and will cost thousands of people their jobs and harm families nationwide. Now that the oil spill has been capped, it’s time to stop the jobs spill. For the good of the families throughout the Gulf region and our nation’s energy security, the Obama administration must lift the moratorium and get the Gulf back to work.”

The report also warned against the worst case scenario — a permanent moratorium on all oil and natural gas production in the Gulf of Mexico — which would lead to nationwide economic losses in excess of $95 billion and more than 400,000 jobs.

Dr. Mason’s report was sponsored by Save U.S. Energy Jobs – a project of the American Energy Alliance – established to help promote the nation’s energy sector. To learn more and get exclusive information on upcoming projects, follow Save U.S. Energy Jobs on Twitter and Facebook.

Founded in May, 2008, The American Energy Alliance (“AEA”) is a not-for-profit organization that engages in grassroots public policy advocacy and debate concerning energy and environmental policies.  AEA is the advocacy arm of the Institute for Energy Research (IER), a not-for-profit organization – founded in 1989 – that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets.

Once excavator expansion plans are completed in 2014, Caterpillar will have increased its China-based excavator capacity by 400 percent

XUZHOU, Jiangsu Province, China  (Profitable.com)  In support of its long-term global strategy for meeting customer demand for excavators, and recognizing the rapid expansion of opportunities in the key growth markets of Asia, Caterpillar Inc. (NYSE: CAT) announced today its expansion plans for the company’s excavator facility in Xuzhou, China.  

As a part of its overall excavator sourcing plans, Caterpillar has also reached an agreement with Xuzhou Construction Machinery Group (XCMG) to acquire XCMG’s 15.87 percent ownership interest in Caterpillar Xuzhou Limited (CXL), a joint venture between Caterpillar and XCMG that was initially established in 1995.  When complete, CXL will be a wholly-owned Caterpillar company. Caterpillar is not releasing terms of the transaction, which is subject to Chinese regulatory approval.  

“In the next few years, we expect China to continue to invest heavily across the country in a wide range of infrastructure improvements, and it is critical for Caterpillar and its dealer network to continue investing in China to increase manufacturing operations, research and development, marketing and customer support for success in this growing market,” said Rich Lavin, Caterpillar group president with responsibility for emerging markets. “Caterpillar has been doing business in China for more than thirty-five years,” Lavin said, “and this investment is evidence of our growing commitment to the China market.”

Lavin, along with Caterpillar China Vice President Jiming Zhu and Caterpillar Excavation Division Vice President Gary Stampanato, attended a groundbreaking ceremony in Xuzhou today for what will become a new manufacturing building for large excavators.  In addition, the company also celebrated the grand opening of another new facility in Xuzhou that will increase capacity for the production of small and medium excavators.  Once the CXL excavator expansion plans are completed in 2014, Caterpillar will have increased its China-based excavator capacity by 400 percent.

CXL has become Caterpillar’s flagship for manufacturing operations in China with leading product quality, safety and employee engagement.

“Caterpillar and its dealers have played an important role in the development and growth of the excavator market in China, and with these investments in our flagship facility in China, we are demonstrating our dedication and commitment to our growing base of Chinese customers,” Zhu said.  

In recent years, the company and its independent dealers have made significant investments to expand the range of products and components produced in China, increase and improve customer support services, and expand and enhance dealer coverage in every province.      

Previously, Caterpillar announced its plans to build a new excavator production facility in the United States resulting from a global excavator sourcing study of its existing excavator manufacturing capacity in the U.S., Japan and China.  The planned expansion of excavator production in China is an essential part of Caterpillar’s long-term strategy for supporting the global demand for excavators.  

About Caterpillar:

For more than 85 years, Caterpillar Inc. has been making progress possible and driving positive and sustainable change on every continent.  With 2009 sales and revenues of $32.396 billion, Caterpillar is the world’s leading manufacturer of construction and mining equipment, diesel and natural gas engines and industrial gas turbines.  The company also is a leading services provider through Caterpillar Financial Services, Caterpillar Remanufacturing Services, Caterpillar Logistics Services and Progress Rail Services.  More information is available at:  http://www.cat.com.

Forward-Looking Statements

Certain statements in this press release relate to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are subject to known and unknown factors that may cause actual results of Caterpillar Inc. to be different from those expressed or implied in the forward-looking statements. Words such as “believe,” “estimate,” “will be,” “will,” “would,” “expect,” “anticipate,” “plan,” “project,” “intend,” “could,” “should” or other similar words or expressions often identify forward-looking statements.  All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions.  These statements do not guarantee future performance, and Caterpillar does not undertake to update its forward-looking statements.

It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements based on a number of factors, including, but not limited to: (i) economic volatility in the global economy generally and in capital and credit markets; (ii) Caterpillar’s ability to generate cash from operations, secure external funding for operations and manage liquidity needs; (iii) adverse changes in the economic conditions of the industries or markets Caterpillar serves; (iv) government regulations or policies, including those affecting interest rates, liquidity, access to capital and government spending on infrastructure development; (v) commodity price increases and/or limited availability of raw materials and component products, including steel; (vi) compliance costs associated with environmental laws and regulations; (vii) Caterpillar’s and Cat Financial’s ability to maintain their respective credit ratings, material increases in either company’s cost of borrowing or an inability of either company to access capital markets; (viii) financial condition and credit worthiness of Cat Financial’s customers; (ix) material adverse changes in our customers’ access to liquidity and capital; (x) market acceptance of Caterpillar’s products and services; (xi) effects of changes in the competitive environment, which may include decreased market share, lack of acceptance of price increases, and/or negative changes to our geographic and product mix of sales; (xii) Caterpillar’s ability to successfully implement Caterpillar Production System or other productivity initiatives; (xiii) international trade and investment policies, such as import quotas, capital controls or tariffs; (xiv) failure of Caterpillar or Cat Financial to comply with financial covenants in their respective credit facilities; (xv) adverse changes in sourcing practices for our dealers or original equipment manufacturers; (xvi) additional tax expense or exposure; (xvii) political and economic risks associated with our global operations, including changes in laws, regulations or government policies, currency restrictions, restrictions on repatriation of earnings, burdensome tariffs or quotas, national and international conflict, including terrorist acts and political and economic instability or civil unrest in the countries in which Caterpillar operates; (xviii) currency fluctuations, particularly increases and decreases in the U.S. dollar against other currencies; (xix) increased payment obligations under our pension plans; (xx) inability to successfully integrate and realize expected benefits from acquisitions; (xxi) significant legal proceedings, claims, lawsuits or investigations; (xxii) imposition of significant costs or restrictions due to the enactment and implementation of health care reform legislation and proposed financial regulation legislation; (xxiii) changes in accounting standards or adoption of new accounting standards; (xxiv) adverse effects of natural disasters; and (xxv) other factors described in more detail under “Item 1A.  Risk Factors” in Part I of our Form 10-K filed with the SEC on February 19, 2010 for the year ended December 31, 2009 and in Part II of our Form 10-Q filed with the SEC on May 3, 2010 for the quarter ended March 31, 2010.  These filings are available on our website at www.cat.com/sec_filings.