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Some 95% of the Comments on the Labor Department’s Proposed ESG Rule Oppose it, an Analysis Shows

Some 95% of the comments on the Labor Department’s proposed rule limiting ESG (environmental, social, and governance) investments in retirement plans oppose it, according to an analysis by representatives of the sustainable investments industry. In June, the Labor Department invited comments on a proposal to require retirement-plan fiduciaries to choose investments “based solely on financial considerations,” a move aimed to slow the interest in ESG investing, analysts said. There is $10.7 trillion in private pension plans. During the 30-day comment period, which ended on July 31, the proposed rule drew 8,737 comments, according to the analysis. The authors downloaded all of them, and charact

Rebuilding the village: A West Virginia school system strives to lift up its children by tackling po

WELCH, W.Va. — The ceremony had the feel of a church service. Standing at the end of a block lined mostly with empty storefronts, officials wielded a crackly PA system, their voices carrying over the din of coal trucks that rumbled through the town. They stood in the shadow of a half-constructed building whose workers paused to take in the spectacle. “That is our belief: that small towns can thrive again, that all children regardless of demography or geography can thrive,” said Randi Weingarten, president of the American Federation of Teachers, a national teachers union, last month. She grew louder, her voice rising with each word: “From this day forward, we commit that not one more school,

AFL-CIO HIT Subsidiary Building America CDE, Inc. Allocates $14.5 M in New Market Tax Credits for Su

AFL-CIO HIT Subsidiary Building America CDE, Inc. Allocates $14.5 Million in New Markets Tax Credits for Sugar Hill in Detroit, MIThe AFL-CIO Housing Investment Trust’s (HIT’s) subsidiary, Building America CDE, Inc. (Building America), allocated $14.5 million of New Markets Tax Credits (NMTC) to the $35.1 million mixed use Sugar Hill Arts District development in the Midtown area of Detroit, Michigan. The Sugar Hill development will create an inclusive community, reinforcing urban vitality in one of Detroit’s most dynamic districts. The Sugar Hill project is part of a larger master plan revitalization effort in the Midtown neighborhood intended to increase housing stock and create a vibrant s

Briggs & Stratton enters into $550M sales agreement with KPS Capital, files Chapter 11 reorganiz

Manufacturer Briggs & Stratton Corp. announced early Monday an agreement to sell most of its assets to KPS Capital Partners for about $550 million and at the same time filed a Chapter 11 bankruptcy reorganization petition. The sale and Chapter 11 filing comes after Wauwatosa-based Briggs & Stratton received two extensions on its revolving credit agreement. In June, the company elected for a 30-day grace period on a $6.7 million interest payment, according to an 8-K filing with the U.S. Securities and Exchange Commission. Briggs & Stratton then received an additional 4-day extension. The 8-K filing noted that Briggs & Stratton (NYSE: BGG) had $271.3 million in borrowings and $53.1 million in

New inpatient rehabilitation hospital to bring about 100 jobs to Rio Rancho

RIO RANCHO, N.M. (KRQE) – The city of Rio Rancho is getting a new hospital. ClearSky Health announced plans to open a new inpatient rehabilitation hospital on Westside Boulevard just east of the Rust Medical Center. The ClearSky Rehabilitation Hospital of Rio Rancho will provide post-acute rehab care to people who are living with disabling injuries or illnesses like strokes, brain injuries, hip fractures, Parkinson’s disease, or other debilitating events. Physicians will lead services that include physical, occupational, and speech therapy, rehabilitative nursing, case management, respiratory therapy, and dietary services. Renovations on the building will begin in May and the first patient i

As reshoring interest rises, consultants offer assistance — and one Pa. manufacturer offers a warnin

Thanks to COVID-19, bringing manufacturing work back to the U.S. is a hot-button issue again. Now, some business organizations are offering companies their assistance bringing facilities back to American soil. Their pitches go like this: After decades of seeking out low-cost labor and access to new markets sent American jobs elsewhere, COVID-19 has exposed U.S. overreliance on offshore manufacturing, and with recent tariff spats with trade partners and rising wages overseas, “reshoring” these facilities and jobs is the way to avoid supply-chain risks. Recent data shows reshoring interest is growing. New York City-based supplier network Thomasnet surveyed 878 U.S. companies in manufacturing a

ICONEX announces $2.8 million investment

The cost-benefit analysis for a $2.8 million equipment investment, described as game changer for ICONEX by management, included a tangible production benefit and a pathway to future growth. The manufacturer has been in Morristown since 1968 and was until three years ago known as National Cash Register. The strong bursts of growth — experienced since 2016 when Atlas Holdings bought Interactive Printer Solutions, a division of NCR Corporation, and launched Iconex — are producing numbers rivaling the new industrial players in town. The company stands at No. 1 in square footage expansions over the past year, No. 3 in job growth, and its capital investments during 2018-19 totaled $10.9 million. T

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