Noranda Aluminum's request to lower the electricity prices it pays at its massive Southeast Missouri plant will "move forward on an expedited schedule," writes American Metal Market. The Missouri Public Service Commission will start its hearing June 23 and is expected to issue a ruling by the end of July.
Nissan executives have rolled out a new dealer sales incentives program that gives local sellers more latitude in how they plan their year and time promotions. Nissan's North American leader José Muñoz says the strategy has been in the works for nine months.
Nissan's U.S. dealer profits also are improving, Munoz says. In February, the most recent figures Munoz can cite, dealer profits rose more than 40 percent, year over year. For the 11 months through February, dealer profits were up 25 percent, he says. And the percentage of all dealers operating profitably has increased 5 percentage points.
Downtown-based Harbert Mezzanine Partners III has put some of its money to work in a Florida company that inspects and repairs steam and combustion turbines around the country and in parts of Latin America. The fund run by John Harrison invested in Florida-based Turbine Generator Maintenance alongside Azalea Capital out of South Carolina and the company's owners, who had taken control in 2010.
Nissan announced today total U.S. sales for March of 149,136 vehicles, an increase of 8.3 percent over the March 2013 figure.
Nissan division sales also set a record with 136,642 unit sales in the month, an increase of 7.9 percent over the mark of the prior year. This marks a monthly record in 12 of the last 13 months, according to the Cool Springs-based company.
March statistics involving Nissan vehicles assembled in Smyrna are as follows:
* Rogue crossover sales also set an all-time monthly record at 19,420, an increase of 26.3 percent.
* Sales of the all-electric Nissan LEAF set a March record, up 12.1 percent to 2,507.
*Nissan Altima sales totaled 35,921 units in March, the vehicle’s best sales month since March 2013, but still down 4.9 percent.
*Infiniti QX60 sales set a March record with 3,340 units, up 26.9 percent.
* Maxima: 6,008 units, down 1.3 percent.
* Pathfinder: 7,894 units, down 13 percent.
“Strong sales performances by Nissan Rogue, Sentra, Altima, Juke and others drove Nissan to the record best month in our history,” Fred Diaz, senior vice president of Nissan sales and marketing, parts and service, U.S., said in a release. “Crossovers are booming, with sales of Nissan crossovers up more than 25 percent so far in 2014 as we prepare to unveil the all-new 2015 Murano at this month’s New York International Auto Show.”
Genesco's leading executives continued to trim their stakes in the company this week. On Tuesday and Wednesday, Chairman, President and CEO Bob Dennis sold $1.1 million worth of shares — a week after booking $2 million in profit on an options exercise — in a deal that still leaves him with about $16 million of Genesco stock. On the same days, CFO Jim Gulmi sold about 3 percent of his shares for roughly $320,000. Shares of Genesco (Ticker: GCO) are up slightly so far in 2014.
On a smaller scale, Clarcor director Philip Lochner on Wednesday exercised 7,500 stock options that would have expired in three years and then sold the resulting shares. His profit on the transactions was almost $190,000. Clarcor shares (Ticker: CLC) are down about 12 percent year to date.
These transactions were the latest in a series of noteworthy insider trades by local executives over the past few months. By our rough count, those deals have generated gains of about $35 million.