| Middle-class autoworkers cling to way of life amid benefit cuts
Just two weeks after his 18th birthday, Randy Horter started his first factory job, helping make clutches and air conditioning systems at an auto parts plant. Since then, the 49-year-old Chrysler line worker has cobbled together a career working at various manufacturing plants and made a nice, middle-class life with his wife, Candace, who works at the same Chrysler plant in Belvidere, Ill. The couple earns about $75,000 a year, unless one or the other is laid off. They own two used cars and their home. Between them, they raised five children, now grown, and were hoping to start preparing for retirement. .
Trane Directors Declare Quarterly Dividend of 16 Cents Per Share of ...
PISCATAWAY, N.J., Feb. 7 /PRNewswire-FirstCall/ -- The board of directors of Trane Inc. (NYSE: TT) today declared a quarterly dividend of 16 cents per share of common stock. The dividend is payable on March 20, 2008, to shareholders of record on March 3, 2008. On Dec. 17, 2007, Trane announced that it had entered into an agreement to be acquired by Ingersoll-Rand Company Limited (NYSE: IR) . The agreement is expected to be finalized in the second quarter of 2008. About Trane Trane Inc. provides heating, ventilation and air conditioning (HVAC) systems and services that enhance the quality and comfort of the air in homes and buildings around the world. The company offers customers a broad range of energy-efficient HVAC systems; dehumidifying and air cleaning products; service and parts support; advanced building controls; and financing solutions.
Ameren customers angered with rate increase proposal
Ameren officials are asking for $247 million more annually to help cover rising replacement costs for items such as utility grade wire, poles and plastic pipe. They claim the added revenue would not go toward offsetting the costs of rebates and refunds tied to this year's rate relief settlement.The Illinois Commerce Commission, which ultimately will decide to accept or reject Ameren's proposal, hosted the public hearing - the first of six statewide and the only hearing in the region.State Rep. John Bradley, D-Marion, who asked the ICC to make Marion one of its stops, was not impressed with Nelson's presentation. He said another rate increase for the utility is unconscionable given that Ameren only had to pay back $150 million in rebates to its customers as part of the $1 billion agreement forged with the legislature last year."They say they're suffering, but they ought to see the suffering put on the people of Southern Illinois," Bradley said.
Bessemer Venture Partners Expands India Team Industry Veteran Devesh ...
LARCHMONT, N.Y., Oct. 17 /PRNewswire/ -- Bessemer Venture Partners, the oldest venture capital operation in the United States, today announced that Devesh Garg has been named a Managing Director of the global investment firm's India practice. Mr. Garg brings more than 20 years of high-tech industry experience to the existing nine-person Mumbai based investment team. In June, Bessemer closed its latest $1 billion global fund with $350 million earmarked for investments in India. Since opening the India office in 2003, Bessemer has invested in 17 Indian companies including: In addition to Mr. Garg, Bessemer has dedicated five other partners to the India effort, including Anil Sarin, who joined Bessemer last year from Prudential ICICI, where he was co-head of equities.
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