Columbus McKinnon nearly doubled profit – to $42.6 million – last year (snippet):
https://www.bizjournals.com/buffalo/..._news_headline
Company info:
https://www.cmworks.com/
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Plug Power supplying fuel cell engines for 100 electric trucks operated by Germany's largest courier
Plug Power is continuing to expand into the on-road delivery market with a new partnership that will have Plug powering 100 hydrogen fuel cell-powered trucks in Europe.
On Tuesday, the Latham-based fuel cell manufacturer announced a new partnership with the German electric vehicle manufacturer StreetScooter.
Plug will be supplying hydrogen fuel cell engines to StreetScooter for the production of 100 electric delivery vehicles to be used by Deutsche Post DHL, starting in 2020. Deutsche Post DHL is the world’s largest logistics and mail communication service.
With Plug Power's fuel cell engines, StreetScooter vans will have an effective range of up to 500 kilometers, or about 310 miles. StreetScooter has been owned by Deutsche Post DHL Group since 2014.
This is the first major announcement that Plug has made regarding fuel cell-powered on-road vehicles in Europe. It's struck a similar deal in the U.S. with FedEx.
“The European Union is committed to reducing its CO2 emissions through the use of hydrogen technology by 2020; it’s exciting to see governments taking that initiative towards a cleaner and more sustainable future,” said Andy Marsh, CEO of Plug Power, in a statement. “These ambitions start to take off when private corporations take the lead and start driving these goals from the ground up. DHL’s commitment towards a cleaner future is the perfect example, and we couldn’t be prouder to be part of this work.”
Plug Power's (Nasdaq: PLUG) primary business is making hydrogen fuel cells that power forklifts in warehouses and distribution centers. The fuel cells are an alternative to lead-acid batteries.
The company has shipped more than 25,000 fuel cell units to dozens of customers including Amazon (Nasdaq: AMZN), Walmart (NYSE: WMT) and Nike (NYSE: NKE). It has become the world’s largest user of liquid hydrogen, with 15 tons used daily, surpassing NASA.
But Marsh has been mapping out the future of Plug Power with an eye toward diversification. The outfitting of electric FedEx trucks with hydrogen fuel cells in the Albany area for package delivery was one of the first signs that Plug is diversifying beyond its core market.
Marsh is projecting revenues between $235 million and $245 million in 2019.
Plug is one of the largest manufacturers in the Albany region and is one of the area's few public companies, employing more than 600 engineers, researchers and technologists.
Plug's stock closed at $2.67 on Tuesday.
Source:
https://www.bizjournals.com/albany/n..._news_headline
Single-payer health care for New York? A lot of people — from businesses to local governments — have a lot to say
Rod Dion's business depends on how other company's executives view the future.
Dion sells office furniture at his businesses, Tech Valley Office Interiors and Nu2u Quality Used Office Furniture, in Colonie. He has a staff of 10 employees.
That's why he's worried about the prospect that New York could switch to a single-payer health care system. Other businesses may opt against expanding or investing in this state, he says, because the single-payer system would be partially paid for through a payroll tax on businesses.
"My business is based on how businesses feel," Dion said. "What I sell is sometimes a luxury item, in the sense that a desk is a desk. If it works, it works. I need them to feel confident about the economy that they want to invest and move forward."
Dion was one of more than 50 people who signed up to testify Tuesday at a hearing on the New York Health Act, a bill that would create a single-payer health care system in the state. Those testifying ranged from business lobby groups to health insurer associations, from unions to doctors, and from hospital representatives to advocacy groups.
It was the first joint public hearing ever held on the bill, which Assemblyman Richard Gottfried first introduced in 1991.
A study last year found the proposed single-payer system would cost $139 billion in 2022, almost doubling the state’s budget. Research organization RAND Corp. published the study.
Total health care spending would fall about 3% by 2031 under the plan, the RAND report found, $14 billion less than would be spent under the status quo.
Darius Shahinfar was one of those who testified in favor of the New York Health Act. Shahinfar is the Albany city treasurer.
He has estimated that switching to a single-payer health care system could dramatically cut property taxes in Albany because a significant portion of city, county and school district taxes go toward health care costs.
"There is not a single act being considered by state government that would do more to cut local property taxes than passing the New York Health [Act] bill into law," Shahinfar testified to lawmakers.
(Bill Hammond at the Empire Center for Public Policy has criticized Shahinfar's analysis because the bill would replace premiums paid to private insurers with two new taxes.)
Shahinfar, a Democrat, believes a single-payer health care system would make New York more attractive to businesses, who could save on health care costs and create jobs in the state.
Greg Biryla disagrees. He planned to testify against the New York Health Act on Tuesday because he believes it would add to businesses' tax burden.
"A payroll tax is a tax on hiring. It's a tax on growth," said Biryla, who is the state director of the National Federation of Independent Business. "If you increase the cost of adding a new employee, or you increase the cost of adding multiple employees, you are taxing and burdening the growth of the business, and that's a huge problem for our members."
Source:
https://www.bizjournals.com/albany/n..._news_headline
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