Hillenbrand reports record-high quarterly revenue

first_imgBATESVILLE, Ind. – Hillenbrand, Inc. is releasing results for the fourth quarter ended September 30, 2014.Revenue grew 6 percent over the prior year to $469 million. The company also noted the Process Equipment Group increased revenue by 10 percent to $319 million and finished the year with $580 million in order backlog, 4 percent below the prior year but consistent on a constant currency basis.Hillenbrand’s revenue for fiscal year 2014 increased 7 percent to$1.67 billion and net income increased 73 percent to $109.7 million ($1.72 per diluted share).“We are pleased with the results delivered for the quarter and year, particularly the profitability improvements in the Process Equipment Group,” said Joe A. Raver, president and chief executive officer of Hillenbrand.“We are confident that we are on the right path to deliver long-term growth and shareholder value as we continue to execute the growth strategy that has transformed Hillenbrand into a global diversified industrial company.”Hillenbrand expects 2015 revenue growth of 2-4% on a constant currency basis. Revenue from the Process Equipment Group is projected to grow 4-6% on a constant currency basis and Batesville is expected to deliver revenue in line with 2014.Given current foreign exchange rates, management expects a 4% negative translation impact to revenue compared to 2014.  Adjusted diluted EPS for 2015 is projected to range from $2.05 to $2.15.last_img read more

Louis vs. Schmeling II: More than a Fight, Pride of Black race hung on every punch 75 years ago

first_imgby Avis Thomas-Lester(NNPA)–James “Winky” Camphor , of Baltimore is 86, but he remembers the fight like it happened yesterday.It was June 22, 1938 and more than 70,000 fight fans crowded into Yankee Stadium to witness a contest that was much more than a boxing bout. It was a grudge match—Black against White, African American versus Aryan, the so-called “Land of the Free” battling Nazi Germany.James “Winky” Camphor. (AFRO Photo/Avis Thomas-Lester)For weeks, Joe Louis, the “Brown Bomber,” and his opponent, Max Schmeling, a beefy German who was supported by Adolf Hitler, had been feted by their respective countries. Americans were hopeful that this time Louis would reign victorious over the German boxer, who hadbeaten   him in 12 rounds two years earlier.“The first time, Max Schmeling beat Joe Louis because he found a flaw. He worked on that flaw and he knocked him out,” Camphor said. “Joe Louis later promised his manager that it wouldn’t happen again. He said, ‘I want to fight him again. If I fight him again, you won’t have to go up the steps [into the ring] but one time.’ That meant he would win.”For Whites, a Louis win would strike a blow against fascism and prove that our nation and its ideals were superior to Hitler’s Deutschland dictatorship.But for African Americans, a victory would offer the world proof that they were equal, thatthey could perform as well as, or better than, anybody—given the opportunity and a level playing field.To the nation, Louis was a hero. To Blacks, he was a savior.The Black Press ran stories for weeks in advance of the story. The AFRO was in the forefrontof the coverage, doing stories on everything from the amount of time Louis spent with his wife, Marva, leading up to the fight to a piece about his last workout.“Louis Sees Many Things as Next Wednesday Nears,” said an AFRO headline on the sports page of the June 18, 1938 edition. “Joe Louis (center) looks into the crystal ball at his training camp…probably to see what the outcome of his fight with Schmeling will be next week,” read thecutline under a picture of Louis flanked by a turbaned magician and his manager, Joe Roxborough. In another photo, Louis stands between then-former heavyweight contenderHarry Wills and Panama Joe Gans.“Louis, still thinking of the beating Max gave him two years ago, is not passing up anybody’s advice these days—Jack Johnson’s included,” the cutline said.As the fight drew close, the nation grew frenzied. In an AFRO story on the June 18 sports page, Staff Correspondent Levi Jolley reported on a Louis sparring practice. “Joe Louis…demonstrated a lightning left, but was the receiver of 51 right hand socks during six rounds of boxing before 3,794 paid admissions, who contributed $4,173 at $1.10 a head…At least 1500 persons had to be turned away.”William Broadwater, 87, of Upper Marlboro, Md., was 12 at the time. He said the entire country was focused on the fight, but Blacks were obsessed with Joe Louis.“Joe Louis was to Black people what President Obama is to us today,” he said. “We didn’t have any heroes. There were no Black football players or Major League baseball players. We had had Jesse Owens to win big in the 1936 Olympics, but track and field wasn’t as popular as boxing. We hadn’t had a major Black hero since [boxer] Jack Johnson. Joe Louis was that person.”Broadwater, like Camphor, said Americans of all hues supported Louis.“It was the first time White people really got behind a Black person in a big way,” he said. “There was the whole thing of Americans against the Nazis. The Germans were supposed to be the superior race, so (White) people didn’t like that.”On June 25, the AFRO ran a front page story about the international implications of the fight. Though the fight was fought June 22, the newspaper with the results didn’t reach newsstands until July 2.“NAZIS AID MAX: Say Hitler Fears Loss; Fight May Play Great Part in International Affairs,” the headline read.“The German government fears the repercussions which may come from a Schmeling defeat by Joe Louis may react with such far reaching effects to the Hitler regime that a special commission comprising physical educational experts, psychologists, and scientific experts has been sent over to assist the challenger, the AFRO-AMERICAN learned this week,” the story said.“The AFRO informant, who has just arrived from Germany to attend the fight and spend several weeks in America, says that so grave do certain Nazi officials regard the situation that the Goebbels propaganda department has already carefully prepared a flood of material to be used to counteract the effect a Louis victory may have on the politics in central Europe.”Broadwater said in his hometown of Bryn Mawr, Pa., neighbors started making plans weeks ahead of time to catch the radio broadcast of the contest.“On my street, Miller Street, we had two radios. My family had one,” he said. “My father used to mess with ours. He had batteries to run it. They looked like car batteries. I can recall the neighbors coming over days before the fight to ask if they could come down to hear the fight.”The fight took place at the stadium where Jackie Robinson would break the color barrier in professional baseball four years later. One hundred million people around the world listened, according to historical accounts. On June 22, 1938, two years after suffering the lone defeat of his prime at the hands of Schmeling — the German puncher who’d been cast as an example of Aryan supremacy — Joe Louis responded with an emphatic first-round knockout before more than 70,000 fans at Yankee Stadium. (AP Photo/File)last_img read more

Candidates for Sheriff Zero In On Drug Abuse

first_imgBy Joseph SapiaBoth candidates for Monmouth County sheriff, Republican incumbent Shaun Golden and Democrat challenger Jeff Cantor, agree the most pressing issue in this race is heroin abuse.Golden, 49, who has been sheriff for seven years and an undersheriff two years before that, is using an approach of direct law enforcement and education.His office is providing education for both adults and youth, including the “Reach For Your Dreams” program in which recovering addicts meet with students from seventh grade to high school and help organize youth anti-drug use activities.The Sheriff’s Office also works with pharmacists to recognize fake prescriptions. It has partnered with other law enforcement agencies to organize unwanted prescription drug drop-offs for proper disposal. Under Golden’s tenure the office has added six narcotics-sniffing dogs.“It’s a multi-prong approach,” said Golden, a former police officer in Toms River and Colts Neck.Cantor, 50, said, if elected, he would form a joint task force that would incorporate law enforcement, recovering addicts, counselors, doctors and pharmaceutical companies.“There’s not a comprehensive strategy,” said Cantor, who has been a member of the Marlboro Township Council for 12 years. “It really comes down to treatment, recovery and education. It’s a growing problem, everyone’s affected by this problem.”The sheriff’s office performs a number of roles: law enforcement, running the county jail in Freehold Township, operating emergency services dispatching, providing security at the Monmouth County Courthouse in Freehold, and running county-wide emergency management.Jeff CantorCantor, a colonel in the U.S. Army Reserve, also wants to form another unit, one focused on dealing with terrorism. Cantor said he was concerned with “soft targets,” such as boardwalks, movie theaters, railroad stations and houses of worship. The unit would recommend ways these various locales could secure themselves, do patrols and be made aware of explosives.“The whole purpose is to keep our children and families safe,” said Cantor, chief operating officer for Gladius Health.Golden said his office is already dealing with domestic and foreign terrorist threats. The Sheriff’s office is using license plate readers to see if vehicles are associated with criminal activity; security cameras; working jointly with municipalities; and teaching private groups how to recognize suspicious activity.Cantor suggested a more cohesive operational approach, one incorporating emergency management, communications, firefighting, emergency medical services and private entities to work together to mitigate problems before they happen.“Then, you can focus on applying resources to these problem spots,” Cantor said.About 25 towns, or more than 100 emergency response agencies, use the Sheriff’s 911 telephone system, Golden said. But Cantor said the communications system needs to be improved, including regional dispatchers needing to better understand local areas and better communication equipment for emergency responders.Golden pointed to various accomplishments in his office, such as a Special Needs Registry for tracking people with autism, dementia, or physical disabilities. Dispatchers and personnel responding to emergencies at an address with a special needs person will know the situation they are walking into and how to deal with it if the person is in the registry.During 2012’s Super Storm Sandy, 72,000 people were evacuated and 5,000 sheltered, with no loss of life, Golden said.“We’ve done a lot,” said Golden, an adjunct professor at Monmouth University. “We’re moving right along.”Cantor questioned Golden serving as sheriff, whose budget is determined by the county Board of Freeholders, and serving as county Republican chairman, who oversees the campaigns of the all-GOP freeholder board.“He controls the freeholders and they control his budget,” Cantor said.last_img read more

Eskom secures R15bn DBSA loan

first_imgAfter a thorough environmental analysis, the bank’s environmental appraisal report concluded that fossil fuels would remain dominant in South Africa’s energy mix for some time, but technologies to reduce greenhouse gas emissions are being developed globally and Eskom’s projects will use some of these technologies to reduce emissions. “Building a sustainable and secure energy supply is one of many priority areas that the DBSA will aggressively pursue to complement the government development agenda to address key development and socio- economic issues faced by the country,” Baloyi said. Reducing environmental impact Speaking at the media briefing in Johannesburg this week, DBSA chief executive Paul Baloyi said: “This deal signifies a major step change aimed at ensuring that South Africa’s long term electricity supply meets demand to ensure the economy can thrive.” It will also have a significant impact on the economies and communities of the towns in which the new power stations are located. The projects include the Medupi and Kusile coal-fired power stations as well as the Ingula Pump Storage scheme and associated transmission infrastructure. Eskom CEO Brian Dames welcomed the recognition by the DBSA of the critical role that Eskom and its capacity expansion programme have to play in supporting South Africa’s growth and development. Baloyi added that the municipal sector currently constitutes 50% of the DBSA’s loan book. “Electricity is a major component of municipal revenue, and it is only logical for the Bank to contribute to the funding of projects that will help to ensure a secure supply of energy for South Africa,” he said. Eskom’s capacity expansion projects will add 12 300 megawatts of additional generating and transmission capacity to South Africa’s national grid by 2017, enabling it to keep up with growing demand. Supporting growth and developmentcenter_img Eskom’s capacity expansion programme is expected to have large spin-off effects, creating 40 000 new jobs, stimulating the creation of new industries and new suppliers, and adding almost 1% a year to the economic growth rate. “Our new build programme is essential to provide the security of supply that South Africa needs if it is to grow its economy and improve the quality of life for all of its people,” Dames said. “The loan is a vote of confidence by the DBSA in Eskom. Securing future energy supply “It will help us to provide South Africa with the power stations and transmission infrastructure it needs while ensuring that Eskom remains financially sustainable.” Like any other transaction, the Eskom loan was subjected to the DBSA’s environmental appraisal guidelines, which found that Eskom has the institutional capacity to address current and future climate change related risks. 4 November 2010 State power utility Eskom has secured a R15-billion loan from the Development Bank of Southern Africa (DBSA) to fund its capital expansion programme. The loan, which is a structured facility that will be drawn over five years, does not utilise guarantees from the South African government. SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

Goldman Sachs Is Our Best Bet Against Climate Change

first_imgAlthough it may not be the obvious hero, Goldman Sachs — usually more Vampire Squid than White Knight — and its cohorts could be responsible for transitioning the renewables sector from a fragmented and esoteric industry to one of mainstream dominance. Goldman Sachs has facilitated the development of world-encompassing industries before and they will do it again.In its 2014 Annual Report, Goldman compares the potential of the renewables market to that of the Internet: “Mass market adoption of any new, disruptive industry often takes a path of early enthusiasm followed by market rejection, volatility and ultimately, acceptance. This was true of the Internet, and evidence suggests a similar course when it comes to clean technology and renewable energy.”The information revolution saw us move from only 1 percent of the world’s information communicated online in 1993 to 97 percent by 2007. In comparison, the U.S. Department of Energy’s goal to increase solar energy output from 1 percent to 10 percent by 2025 is modest, and yet would dramatically grow the renewables industry.Behind this growth are Goldman Sachs, Citi, JPMorgan and the rest of the institutional investment industry, moving increasing volumes of capital into this market as it matures and sheds risk. The capital markets are one of the most powerful forces humanity has created, and while occasionally (OK, often) it can go rogue, harnessing its power is the only realistic way that renewable energy will receive the investment capital needed to scale and have the impact we need. Financial innovationIt used to be that only the largest of financial institutions could invest in renewables, but new products are providing access across nearly every asset class. Over the past few years the introduction of green bonds, YieldCos (companies that predominantly distribute cash flows from owned operating assets as dividends or other payments to investors), and clean energy index funds, while still early, show promising initial returns, indicating that the market has an appetite for “green-backed” financial products. This contradicts the false assumptions that investing in the environment and investing for returns cannot co-exist.Today’s products are just the tip of the iceberg. Emerging solutions include more ways to repackage debt (such as renewable-backed securitized products or energy mezzanine financing) and financing constructs that generate revenue based on projected savings, such as social impact bonds.As Michael Eckhart, managing director at Citi, said in an interview with Clean Energy Finance Forum, “I think we are 40 years into a 100-year transition to a clean finance economy. The momentum is going in our favor and we are succeeding.”Like the tech industry, the renewables market has waxed and waned, but the constantly decreasing cost of technology drives both forward. As hardware costs continue to decrease and renewable equipment becomes more commonplace, software-based firms will build better mousetraps and bring new solutions to old problems.Underlying all this will be an infrastructure of capital flowing from one entity to the next, responsible for thousands (probably millions) of jobs and billions in global economic growth.If Internet-like growth is to be achieved, then we have reason to be optimistic about the future of our environment. Right now we may be at the stage with renewables of reading articles explaining what “www” means and why you can’t use a landline phone and the Internet at the same time.But it also means that across the country you have the renewable energy versions of Bill Gates, Steve Jobs, and Larry Page working in garages, developing innovative products we didn’t know we needed until they change the world. However, this time, there is one key difference: As markets mature, investments are made, and returns are reaped, not only Goldman Sachs profits. We all do. Bryan Birsic is co-founder and CEO at Wunder Capital, a renewable energy investment company in Boulder, CO. This blog was originally posted at TechCrunch. The “right things to do” make economic senseFlying less, recycling more, and being better to the planet are things we should all do; affordable renewable energy solutions and high-tech innovations are things we all have. But it’s clear these aren’t enough to change the course on which we find ourselves. Large amounts of capital are needed to advance renewable energy from fringe to dominance, which only the financial industry can deploy. Thirty years of technological advances provided the kindling, but it’s capital market gasoline that will really get things going.Right now there are (metaphorical) thick clouds of smoke billowing from the financial sector. Goldman Sachs is investing $40 billion in renewables by 2021. Citi has committed $100 billion to the facilitation of clean energy by 2025, and Berkshire Hathaway is investing $15 billion into solar and wind projects at Warren Buffet’s personal behest. Within investment banks, new groups have been created to focus on clean energy development and businesses, such as Morgan Stanley’s Institute for Sustainable Investing and JPMorgan’s Environmental and Social Risk Management division.These decisions weren’t made because they are the right things to do (although they are), but because they make economic sense. Renewables must deliver strong returns first, and the double bottom line impact of benefiting the environment second. This may seem calculated, but tapping capital markets is absolutely crucial to the health of the planet. Investing in clean energy is a smart decision — not just a personal passion — and that’s what will allow renewables to achieve global scale.To date, capital markets are igniting growth in renewables by reducing capital costs, investing in better ideas, and financial innovation. Investing in good ideasThe renewables industry wouldn’t be as advanced as it is today if not for the billions of investment dollars poured into it. In 2014 global investment in clean energy reached $310 billion. Cleantech firms raised over $18.7 billion and venture capital and private equity investment in the industry reached $4.8 billion. Early investment in firms such as SolarCity, Enphase, and Clean Power Finance accelerated the growth of solar by at least five years, transforming it to be today’s compelling power source.The energy industry is one of America’s oldest, and, as is happening in the fintech (financial technology) space, is being challenged by new market entrants who are using apps, the web, and SaaS (software as a service) products to make things faster, better, and smarter.From better underwriting models to products that provide greater control over home efficiency, such as the Nest thermostat, funneling investor capital toward good ideas that are bringing renewables to scale is increasing the industry’s size, influence, and accessibility dramatically. Reducing capital costsThird-party financing plays an important role in the capital markets, as one person’s loan is another person’s income. Providing affordable financing to cover any upfront clean energy adoption costs is one of the easiest ways to drive change at the consumer level. The P2P (peer-to-peer) lending space is booming with online alternative lenders, such as Lending Club, Prosper, and Fundera, and the model has taken off in the renewables sector.SunFunder and SparkFund are tackling renewable energy financing issues in emerging-market solar and energy efficiency, respectively. Reducing capital costs for individuals and small businesses creates a virtuous cycle: cheap capital expands the customer pool, which increases product demand, and that allows manufacturers to offer cheaper and cheaper panels, expanding the customer pool even more.The fuel of this virtuous cycle is capital, and the combination of flexible online solar lenders and institutional capital will amply provide for future growth. RELATED ARTICLES Rethinking the Grid Nine Surprising Signs That Momentum Is Building for Climate ActionHoping for a Climate Change BreakthroughTaking Action on Climate ChangeEarth Day 2014 and Climate ChangeHalf of All Americans Worry About Climate ChangeGood News Bad News With Climate ChangeSeeking Common Ground on Climate Change PolicyScience, Climate Change, and Policylast_img read more

Helping Military Families Transition from an IFSP to an IEP

first_imgAudra Classen, Ph.D. is an Assistant Professor at The University of Southern Mississippi in the Department of Curriculum, Instruction, and Special Education. Her expertise lies in supporting the academic and behavioral development of young children from birth to age eight.  Dr. Classen is actively engaged in research to develop culturally responsive and family-centered services for military families and their young children. Watch as Audra Classen, Ph.D., shares with the MFLN FD Early Intervention team how providers can help military families transition from an Individualized Family Service Plan (IFSP) to an Individualized Education Program (IEP).  Also check out the links to several useful resources for providers below.Dr. Classen writes:Early educators who develop a detailed IFSP/IEP document, which can be transportable to the next school district, build “trust” and a “personal connection” with military families. Listening to families and developing a detailed IFSP/IEP may prevent families from experiencing a less than satisfactory and frustrating experience when they transition to a new education setting.  Preventing discourse and promoting a positive family professional partnership is ideal for supporting young children and their families. In addition, some school personnel should consider each military families’ situation to determine if expediting the special education process is appropriate. Expediting the process can be a proactive way to demonstrate responsiveness towards military families’ unique needs thus providing relief and comfort to parents that full and appropriate services are in place sooner. Furthermore, when school personnel take the time to actively engage military families in the IFSP/IEP process, the family gains a sense of control which can be particularly important given the lack of control families are experiencing in other areas of their family life during relocations and deployments. For parents, this sense of control and accomplishment in terms of their child’s education may prevent feelings of defensiveness and/or anxiousness and promote better child and family outcomes.A transcript of this video can be found here.Be sure to click on the following resources:IDEA barriers to military families who move frequentlyLetter from the Dept. of Education regarding military children with disabilitiesThe Military Child and Special EducationInterstate Compact on Educational Opportunity for Military ChildrenLegal Issues Facing Military Families with Special Needs Childrenlast_img read more

Scouts Are Apparently Worried That Jaylon Smith May Never Play In The NFL

first_imgJaylon Smith wearing the Notre Dame Mascot's hat.PITTSBURGH, PA – NOVEMBER 07: Jaylon Smith #9 of the Notre Dame Fighting Irish celebrates by wearing the hat of team mascot, Lucky The Leprechaun, following their 42-30 win against the Pittsburgh Panthers at Heinz Field on November 7, 2015 in Pittsburgh, Pennsylvania. (Photo by Jared Wickerham/Getty Images)Former Notre Dame linebacker Jaylon Smith, one of the top NFL prospects in college football this past year, suffered a devastating knee injury against Ohio State in the Fiesta Bowl, tearing both his ACL and LCL. It turns out the injury may wind up being more than just a setback.According to ESPN’s Adam Schefter, Smith is no longer expected to play in 2016 after medical rechecks. According to ESPN’s Travis Haney, there are some scouts who think he’ll never play a down in the NFL. After medical rechecks, Notre Dame’s Jaylon Smith is not expected to play in 2016 and teams are unsure when he will play again, per sources.— Adam Schefter (@AdamSchefter) April 18, 2016Scouts told me they fear Smith might be one of best pure prospects to never play in NFL. There’s real concern. https://t.co/ijz3UEY5TZ— Travis Haney (@TravHaneyESPN) April 19, 2016Smith’s situation is heartbreaking, obviously. Don’t be surprised if it reignites the debate regarding whether NFL Draft prospects should take part in non-Playoff bowl games.last_img read more

Senate Passes Bill to Modernise Agricultural Sector

first_imgStory Highlights The Bill also provides for the establishment of the Agricultural Appeal Tribunal and for the registration and regulation of the agricultural loan societies by the Registrar of Co-operative Societies, and the certification of approved organisations by the Minister. A Bill seeking to modernise the agricultural sector to meet the nation’s growing demands of food security and productivity was passed in the Senate on October 6. Closing the debate in the Senate on October 6, Government Senator, Hon. Pearnel Charles Jr., said hundreds of thousands of farmers and their families will be impacted through the provision of more effective regulation and monitoring of important institutions. A Bill seeking to modernise the agricultural sector to meet the nation’s growing demands of food security and productivity was passed in the Senate on October 6.The Agricultural Loan Societies and Approved Organisations Act also facilitates the dissolution of the Agricultural Credit Board (ACB) and transfers the Board’s monitoring and regulatory functions to the Registrar of Co-operative and Friendly Societies.Closing the debate in the Senate on October 6, Government Senator, Hon. Pearnel Charles Jr., said hundreds of thousands of farmers and their families will be impacted through the provision of more effective regulation and monitoring of important institutions.He said these institutions will provide resources to the farmers, so they will be able to feed their families, the country and the world.Government Senator, Dr. Saphire Longmore, said under the Act, farmers could benefit from numerous advantages, including self-ownership and democratic control, increased farming income, improved service, quality of supplies and products, assured sources of supplies, expanded markets, improved farm management, legislative support, local leadership development and increased farmer control of agricultureShe added that all these are important to the development of the country’s agricultural society.“We are all cognisant of how beneficial developing our agricultural sector is to our country. This Bill will make it more significantly possible for Jamaicans to realise this dream of food security and agricultural productivity,” she said.The Bill also provides for the establishment of the Agricultural Appeal Tribunal and for the registration and regulation of the agricultural loan societies by the Registrar of Co-operative Societies, and the certification of approved organisations by the Minister.last_img read more