Weyerhaeuser Company (NYSE: WY) today announced an agreement to sell its 555,000 acres of Michigan timberlands to Lyme Great Lakes Holding LLC, an affiliate of The Lyme Timber Company LP, for $300 million in cash. The company expects to recognize a gain on the sale and anticipates no tax liability in conjunction with the transaction.
Oil shed some of its gains on Tuesday as the United States raised the possibility of releasing crude reserves, while stocks inched lower as investors waited for this week’s Federal Reserve meeting. Investors were noncommittal before the expected interest rate cut from the Fed on Wednesday and the next round of U.S.-China trade talks on Thursday. U.S. stocks futures were lower, indicating an open in the red on Wall Street.
I decided many years ago to write a book and, like any big project I have ever been involved in, it has taken sheer determination, toil and the love and support of the people around me. But I’m very proud to say that you can now get a copy of my own “unauthorized autobiography”, which is part self-help, part motivational plus a decent chunk of business experiential, as of this week on Amazon.
Graphic Design USA announced The American Graphic Design Awards™—a flagship contest open to everyone in the community: design firms, ad agencies, in-house departments, non-profits, institutions, associations, freelancers, students and more. It honors outstanding work of all kinds — the best designs of the year — in print, packaging, p-o-p, internet, interactive, video and more. This is its 56th Anniversary.
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom’s production.
The American Trucking Associations told a House subcommittee that the use of tolls to finance infrastructure construction and maintenance was inefficient, unsafe and damaging to the trucking industry. “While the trucking industry is willing to pay its fair share for infrastructure improvement, we believe that tolls are not the right solution, and in fact can be very harmful to our industry, our customers and ultimately, to consumers,” YRC Worldwide Inc. CEO Darren Hawkins told the House Transportation and Infrastructure Committee’s Subcommittee on Highways & Transit on behalf of ATA. In his testimony, Hawkins cited inefficiencies in toll collection, traffic diversion and misdirection of toll funds as significant problems with tolling when compared to other financing methods.
National Average Price for Regular Unleaded – Current: $2.570; Month Ago: $2.320; Year Ago: $2.577. National Average Price for Diesel – Current: $2.698; Month Ago: $2.724; Year Ago: $2.960.
American Dollar to Canadian Dollar = 0.756269; American Dollar to Chinese Yuan = 0.141280; American Dollar to Euro = 1.110397; American Dollar to Japanese Yen = 0.009261; American Dollar to Mexican Peso = 0.051568.
Three days of falling oil prices is not a crisis for OPEC, the weakening oil producer’s club, but forecasts of a continuation of the price decline could sap what strength remains in an organization once able to dictate the direction of the global economy. The most alarming comments for members of Opec, especially the cartel leader, Saudi Arabia, came yesterday from the International Energy Agency in its monthly Market Report which warned of a growing oil surplus which will get worse next year. “While the relentless stock builds we have seen since early 2018 have halted, this is temporary,” the IEA said.
Oil prices fell on Thursday as a meeting of the OPEC+ alliance yielded no discussion about deepening supply cuts but focused instead on bringing Nigerian and Iraqi output down to their agreed quotas. Saudi Arabia’s new energy minister, Prince Abdulaziz said, however, his country would keep cutting by more than it pledged in a deal that has throttled supply by OPEC and its allies by 1.2 million barrels per day.