Page 12 - UTILITIES 9 DEC 2015
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BUSINESS A25
Wednesday 9 December
Chipotle shares fall amid new E. coli scare, sales issues
NEW YORK (AP) — Chipo- safety standards. On Mon- Boston’s Cleveland Circle toms have been tested for against a tough year-ago
tle’s stock edged lower in day 30 Boston College stu- and said it thinks the ill- both E. Coli and norovirus, comparison. The company
midday trading Tuesday dents, including at least nesses are the result of an and that results will not be is also raising prices to con-
as the Mexican food chain eight members of the isolated incident of noro- available for at least two sumers to offset the higher
continues to deal with men’s basketball team, virus, not a multi-state out- days. Aside from the E. coli cost of beef.
fallout from an E. coli out- complained of gastrointes- break of E. coli linked to its troubles, Chipotle Mexican Shares of Chipotle fell
break and contends with tinal symptoms after eating restaurants. That outbreak Grill Inc. has been experi- $8.75, or 1.6 percent, to
weakening sales. at a Chipotle restaurant. has sickened 52 people in encing a slowdown in its $543 in afternoon trading
A national outbreak of On Tuesday, Boston Col- nine states, with the most sales. Chipotle executives Tuesday. Its shares have
E. coli has been linked lege raised its estimate to recent illness starting on previously said that the fallen about 28 percent
to Denver-based Chipo- 80. November 13. chain’s same-store sales from their all-time high
tle, which has said that it Chipotle Mexican Grill Inc. The university says all stu- growth would be more of $758.61 achieved in
is adopting stricter food closed the restaurant in dents who reported symp- modest this year, as it’s up August.q
FAA approval near, Honda’s business jet about to hit market
EMERY P. DALESIO replace his slower, propel- Just as Honda did when vies, who covers the busi- be small-cabin aircraft like
AP Business Writer ler-driven King Air. Whalen it introduced its cars into ness aviation industry for the HondaJet, and about
RALEIGH, N.C. (AP) — Near- is founder and CEO of a North America decades the London-based online 60 percent of the demand
ly 30 years after Honda’s company that runs hotels ago, its aircraft subsidiary publication Corporate Jet in the next five years will
founder started develop- and restaurants in a half
ing the product and after dozen Midwestern states The HondaJet arrives at Tokyo’s Haneda airport. Nearly 30 years after development began,
more than a dozen years of from Moline, Illinois, a city and after more than a dozen years of testing, Honda, a company best known for its cars and
testing, the company best with few direct flights. Now motorcycles, is about to start delivering its first aircraft: a HondaJet.
known for its cars and mo- his Heart of America Group
torcycles is about to start is expanding into Wyo- (AP Photo/Eugene Hoshiko)
delivering its first aircraft. ming, Colorado and Texas.
The Japan-based compa- “In the last year or so it has stayed low-key, care- Investor, wrote in an email. be in North America, the
ny this week is expected to certainly would have ful and methodical for an Up to 9,200 new busi- report said. Entering the
receive a crucial Federal been coming in handy, so industry that tends toward ness jets worth $270 billion aviation market was a goal
Aviation Administration I’ve been inquiring quite hoopla and splashy sales will be delivered world- of founder Soichiro Honda,
certification of its first Hon- regularly as to when they announcements at air wide in the next decade, and HondaJet’s devel-
daJet, the last step before thought it was coming,” shows, Plucker said. according to Honeywell opment began several
launching full production said Whalen, who now ex- The HondaJet reaches the International, which pro- years before his death in
from its manufacturing pects delivery in March. market after sales of similar duces aerospace com- 1991. Honda sent engineer
hub and headquarters in HondaJet’s model HA- light jets have struggled to ponents and an annual Michimasa Fujino to the
Greensboro, North Caroli- 420 is expected to be the rebound from the global industry forecast. About a United States to design an
na, where it employs more first in a line of Honda air- financial crisis, Alud Da- quarter of those sales will experimental aircraft.q
than 1,000. A company an- craft. That could make the
nouncement is expected quality-conscious, price-
Wednesday. competitive company a
The business jet, which can player in aviation since
seat up to seven and lists “anywhere Honda gets
for about $4.5 million, will into, they tend to grab a
be reaching customers significant market share
at least five years behind fairly quickly,” said Wayne
schedule. Honda says it Plucker, who heads aero-
has received more than space industry research
100 orders, primarily from at the consulting firm Frost
customers in North Ameri- & Sullivan. Honda touts its
ca and Europe. plane as lighter, faster and
Michael Whalen, a hospi- more fuel-efficient than
tality industry executive, competitors that include
says he placed a deposit U.S.-based Cessna and
for a HondaJet in 2007 to Embraer of Brazil.
Regulators move to stop Staples’ deal with Office Depot
NEW YORK (AP) — The Fed- Shares of the two of- prices, the FTC said. The scape the companies deal two years ago.
eral Trade Commission said fice supply retailers fell decision comes 10 months with. Office Depot Chairman
this week that it is seeking to sharply. after Staples offered to buy The pair argue that com- and CEO Roland Smith
block the proposed com- The FTC said corporations rival Office Depot for $6.3 petition has become said Staples and Of-
bination of Staples and Of- rely on Staples and Of- billion. even tougher since Of- fice Depot plan to pursue
fice Depot because the fice Depot to buy pens, Staples and Office De- fice Depot and OfficeMax legal options in order to
deal would reduce com- paper clips and other sup- pot said they plan to show merged in 2013 and that complete the deal.
petition in the office sup- plies at low prices. A deal that the FTC’s decision is the FTC is contradicting Staples is based in Fram-
plies market. The compa- between Staples and Of- based on “a flawed analy- itself because it said that ingham, Massachusetts,
nies said they plan to fight fice Depot would cut com- sis and misunderstanding” the office supply market while Office Depot is based
to preserve the deal. petition and lead to higher of the competitive land- was highly competitive in Boca Raton, Florida.q
