Columbus, OH, United States

American Electric Power

www.AEP.com
Columbus, OH, United States

American Electric Power is a major investor-owner electric utility in the United States, delivering electricity to more than 5 million customers in 11 states.AEP ranks among the nation's largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation's largest electricity transmission system, a nearly 39,000-mile -network that includes 765 kilovolt ultra-high voltage transmission lines, more than all other U.S. transmission systems combined. AEP's transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in Electric Reliability Council of Texas, the transmission system that covers much of Texas. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power , Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company . AEP's headquarters are in Columbus, Ohio.American Electric Power was the first utility to utilize 345 kV transmission lines which took place in 1953. Wikipedia.

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Teknologiakonserni Wärtsilä on allekirjoittanut sopimuksen Greensmith Energy Management Systems Inc:n (Greensmith) hankkimisesta. Yhdysvalloissa toimiva Greensmith on edelläkävijä älykkäiden energian varastointiteknologioiden ja -ratkaisujen kehittämisessä. Kauppahintaa ei julkisteta. Hankkimalla Greensmithin Wärtsilä pystyy laajentamaan toimintaansa energian varastointimarkkinoilla ja nostamaan itsensä johtavaan asemaan globaalina energiajärjestelmien integroijana. Kaupan loppuunsaattamisen edellytyksenä on Yhdysvaltojen viranomaisten hyväksyntä. Yhtiön omistus siirtyy Wärtsilälle kaupan loppuunsaattamisen jälkeen, minkä odotetaan tapahtuvan viimeistään heinäkuussa 2017. Vuonna 2008 perustettu Greensmith on arvostettu ja johtavassa asemassa oleva energian varastointiteknologian ja järjestelmäintegraation tuottaja. Se on toteuttanut noin kolmanneksen Yhdysvaltojen energiavarastointikapasiteetista vuonna 2016. Energian varastoinnin optimointiin ja integraatio-ohjelmistoihin erikoistunut yhtiö työllistää tällä hetkellä reilut 40 ihmistä, ja se on toimittanut yli 180 megawattia suurille  energiayhtiöille eri puolilla maailmaa. "GEMS on varastointijärjestelmien integroinnin se johtavaalusta, ja näemme, että Greensmithillä on valtava potentiaali jatkaa tämän alan innovointia ja muovausta yhdessä Wärtsilän kanssa", Ram Sastry, Vice President of Infrastructure and Continuity, American Electric Power (AEP). Wärtsilä Energy Solutions lyhyesti Wärtsilä Energy Solutions on johtava kansainvälinen järjestelmäintegraattori, jolla on monipuolinen valikoima erilaisia ympäristön kannalta kestäviä ratkaisuja. Tarjontaan sisältyy erittäin joustavia polttomoottorikäyttöisiä voimalaitoksia, suuria aurinkovoimaloita sekä LNG-terminaaleja ja -jakelujärjestelmiä. Wärtsilän joustavat ja tehokkaat ratkaisut tuottavat lisäarvoa ja mahdollistavat siirtymisen entistä kestävämpään ja nykyaikaisempaan energiajärjestelmään. Wärtsilän vuoteen 2017 mennessä toimittamien voimalaitosten asennettu kapasiteetti on 63 GW, ja toimituksia on tehty yhteensä 176 maahan. www.smartpowergeneration.com Wärtsilä lyhyesti Wärtsilä on kansainvälisesti johtava edistyksellisen teknologian ja kokonaiselinkaariratkaisujen toimittaja merenkulku- ja energiamarkkinoilla. Wärtsilä maksimoi asiakkaiden alusten ja voimalaitosten ympäristötehokkuuden ja taloudellisuuden keskittymällä kestäviin innovaatioihin ja kokonaishyötysuhteeseen. Vuonna 2016 Wärtsilän liikevaihto oli 4,8 miljardia euroa ja henkilöstömäärä noin 18 000. Yrityksellä on yli 200 toimipistettä yli 70 maassa eri puolilla maailmaa. Wärtsilän osakkeet on listattu Nasdaq Helsingissä. www.wartsila.com


Wärtsilä Corporation, Press release, 15 May 2017 at 10:00 am EET The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. (Greensmith), a US-based leader in intelligent energy storage technology and solutions, for an undisclosed amount. The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator. The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017. Founded in 2008, Greensmith is a recognized leader in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016. Specializing in energy storage optimization and integration software, the company today employs over 40 people and has delivered in excess of 180 MW to some of the largest power companies globally. Greensmith has developed a world-leading energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, Engineering Procurement and Construction companies and Independent Power Producers to manage and monitor individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity-therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4. Energy storage is expected to grow exponentially as it becomes an integral part of any energy system. With this in mind Wärtsilä aims to become a global systems integrator with full in-house capabilities specializing in solutions that offer the combination and optimisation of different forms of power generation, energy storage and demand side management. Having an integration software platform is a must and acquiring Greensmith gives Wärtsilä an industry leading platform to offer across an installed base of over 63 gigawatts of power generation around the world. "Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match," says Javier Cavada, President at Wärtsilä Energy Solutions. "We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions," said John Jung, CEO of Greensmith. "The combination of Greensmith's proven technologies and Wärtsilä's global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market." "Greensmith is one of the true pioneers in the energy storage business. After a very successful partnership both as investor and business partner, we are very excited about continuing the great relationship with Greensmith as part of Wärtsilä, providing even better energy storage solutions for customers in the USA and Europe," says Dr. Philipp Ulbrich, VP of Strategic Co-Investments, the CVC arm of E.ON. "GEMS is the de facto platform for storage systems integration and we see tremendous potential for Greensmith to continue innovating and shaping this industry in partnership with Wärtsilä," - Ram Sastry, Vice President of Infrastructure and Continuity at American Electric Power (AEP). For further information please contact: Wärtsilä Energy Solutions in brief Wärtsilä Energy Solutions is a leading global systems integrator offering a broad range of environmentally sound solutions. Its offering includes ultra-flexible internal combustion engine based power plants and utility-scale solar PV power plants, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. As of 2017, Wärtsilä has 63 GW of installed power plant capacity in 176 countries around the world. www.smartpowergeneration.com Wärtsilä in brief Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com Greensmith in brief As the leading provider of energy storage software and integration services, Greensmith's mission is to make energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith's GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing system return on investment. Greensmith Energy designs and deploys the world's most advanced energy storage systems. From grid-scale to behind-the-meter and microgrid solutions, the Greensmith GEMS software platform enables effective and efficient delivery of stable power with unsurpassed performance and profitability.


News Article | May 9, 2017
Site: www.prnewswire.com

AEP already operates Conesville Plant and Dynegy operates Zimmer Plant so there will be no employment impact from the transaction. AEP now owns 92 percent, or 1,461 MW, of Conesville Plant. Dayton Power & Light owns the remaining 129 MW of Conesville Unit 4. AEP's other competitive generation assets in Ohio include 595 MW of Cardinal Plant, 603 MW of Stuart Plant and the 48 MW Racine Plant. Stuart Plant is expected to be retired by June 1, 2018. American Electric Power is one of the largest electric utilities in the United States, delivering electricity and custom energy solutions to nearly 5.4 million customers in 11 states. AEP owns the nation's largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP also operates 224,000 miles of distribution lines. AEP ranks among the nation's largest generators of electricity, owning approximately 26,000 megawatts of generating capacity in the U.S. AEP supplies 3,200 megawatts of renewable energy to customers. AEP's utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP's headquarters are in Columbus, Ohio. This report made by American Electric Power and its Registrant Subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its Registrant Subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: economic growth or contraction within and changes in market demand and demographic patterns in AEP service territories; inflationary or deflationary interest rate trends; volatility in the financial markets, particularly developments affecting the availability or cost of capital to finance new capital projects and refinance existing debt; the availability and cost of funds to finance working capital and capital needs, particularly during periods when the time lag between incurring costs and recovery is long and the costs are material; electric load and customer growth; weather conditions, including storms and drought conditions, and AEP's ability to recover significant storm restoration costs; the cost of fuel and its transportation and the creditworthiness and performance of fuel suppliers and transporters and the cost of storing and disposing of used fuel, including coal ash and spent nuclear fuel; availability of necessary generating capacity and the performance of AEP's generating plants; AEP's ability to recover fuel and other energy costs through regulated or competitive electric rates; AEP's ability to build transmission lines and facilities (including the ability to obtain any necessary regulatory approvals and permits) when needed at acceptable prices and terms and to recover those costs; new legislation, litigation and government regulation, including oversight of nuclear generation, energy commodity trading and new or heightened requirements for reduced emissions of sulfur, nitrogen, mercury, carbon, soot or particulate matter and other substances that could impact the continued operation, cost recovery, and/or profitability of AEP's generation plants and related assets; evolving public perception of the risks associated with fuels used before, during and after the generation of electricity, including nuclear fuel; a reduction in the federal statutory tax rate that could result in an accelerated return of deferred federal income taxes to customers; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions, including rate or other recovery of new investments in generation, distribution and transmission service and environmental compliance; resolution of litigation; AEP's ability to constrain operation and maintenance costs; AEP's ability to develop and execute a strategy based on a view regarding prices of electricity and gas; prices and demand for power generated and sold at wholesale; changes in technology, particularly with respect to energy storage and new, developing, alternative or distributed sources of generation; AEP's ability to recover through rates any remaining unrecovered investment in generating units that may be retired before the end of their previously projected useful lives; volatility and changes in markets for capacity and electricity, coal, and other energy-related commodities, particularly changes in the price of natural gas; changes in utility regulation and the allocation of costs within regional transmission organizations, including ERCOT, PJM and SPP; AEP's ability to successfully and profitably manage competitive generation assets, including the evaluation and execution of strategic alternatives for these assets as some of the alternatives could result in a loss; changes in the creditworthiness of the counterparties with whom AEP has contractual arrangements, including participants in the energy trading market; actions of rating agencies, including changes in the ratings of AEP debt; the impact of volatility in the capital markets on the value of the investments held by AEP's pension, other postretirement benefit plans, captive insurance entity and nuclear decommissioning trust and the impact of such volatility on future funding requirements; accounting pronouncements periodically issued by accounting standard-setting bodies; and other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes, cyber security threats and other catastrophic events. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aep-and-dynegy-complete-ownership-transfer-for-co-owned-plants-300454639.html


Wärtsilä Corporation, Press release, 15 May 2017 at 10:00 am EET The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. (Greensmith), a US-based leader in intelligent energy storage technology and solutions, for an undisclosed amount. The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator. The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017. Founded in 2008, Greensmith is a recognized leader in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016. Specializing in energy storage optimization and integration software, the company today employs over 40 people and has delivered in excess of 180 MW to some of the largest power companies globally. Greensmith has developed a world-leading energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, Engineering Procurement and Construction companies and Independent Power Producers to manage and monitor individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity-therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4. Energy storage is expected to grow exponentially as it becomes an integral part of any energy system. With this in mind Wärtsilä aims to become a global systems integrator with full in-house capabilities specializing in solutions that offer the combination and optimisation of different forms of power generation, energy storage and demand side management. Having an integration software platform is a must and acquiring Greensmith gives Wärtsilä an industry leading platform to offer across an installed base of over 63 gigawatts of power generation around the world. "Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match," says Javier Cavada, President at Wärtsilä Energy Solutions. "We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions," said John Jung, CEO of Greensmith. "The combination of Greensmith's proven technologies and Wärtsilä's global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market." "Greensmith is one of the true pioneers in the energy storage business. After a very successful partnership both as investor and business partner, we are very excited about continuing the great relationship with Greensmith as part of Wärtsilä, providing even better energy storage solutions for customers in the USA and Europe," says Dr. Philipp Ulbrich, VP of Strategic Co-Investments, the CVC arm of E.ON. "GEMS is the de facto platform for storage systems integration and we see tremendous potential for Greensmith to continue innovating and shaping this industry in partnership with Wärtsilä," - Ram Sastry, Vice President of Infrastructure and Continuity at American Electric Power (AEP). For further information please contact: Wärtsilä Energy Solutions in brief Wärtsilä Energy Solutions is a leading global systems integrator offering a broad range of environmentally sound solutions. Its offering includes ultra-flexible internal combustion engine based power plants and utility-scale solar PV power plants, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. As of 2017, Wärtsilä has 63 GW of installed power plant capacity in 176 countries around the world. www.smartpowergeneration.com Wärtsilä in brief Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com Greensmith in brief As the leading provider of energy storage software and integration services, Greensmith's mission is to make energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith's GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing system return on investment. Greensmith Energy designs and deploys the world's most advanced energy storage systems. From grid-scale to behind-the-meter and microgrid solutions, the Greensmith GEMS software platform enables effective and efficient delivery of stable power with unsurpassed performance and profitability.


News Article | May 9, 2017
Site: www.businessoffashion.com

COLUMBUS, United States — “The Stepford Wives.” During a brisk 24-hour trip to Columbus, Ohio, not one, not two, but three different people mention the 1972 novel in which author Ira Levin satirises the Connecticut suburbs, depicting its frigid, perfectly turned out housewives as robots built by their scheming husbands. Robot-wives aside, the Columbus suburbs do often veer towards Stepford territory, if only in appearances. There’s Easton, home to the city’s toniest indoor- outdoor mall complex, the Easton Town Center, developed by L Brands chief executive (and Ohio’s richest man) Les Wexner. And then there’s New Albany, where Wexner — whose net worth is currently close to $6 billion — owns a 30-room mansion that sits on more than 300 acres of land. Both neighbourhoods, located north of downtown and just minutes from the airport, are populated with actual white-picket fences and freshly cut grass lawns, as well as the campuses of some of America’s biggest “mall brands.” Around 2,200 employees work at Abercrombie & Fitch’s New Albany headquarters. Just a five-minute drive away from Easton Town Center is the headquarters of Wexner’s L Brands on 3 Limited Parkway, which is itself exactly a minute away from 1 Express Drive, both named after brands Wexner started himself but no longer owns. (In 2013, L Brands sold its remaining stake of The Limited to private equity firm Sun Capital Partners, Inc. In 2011, it sold its remaining ownership of Express, which is now a publicly traded company.) The Limited, perhaps best known for popularising stirrup pants among American suburban mall shoppers in the late 1980s, is no longer. At the beginning of 2017, Sun Capital Partners announced it would close its remaining 250 stores. But Victoria’s Secret, Bath & Body Works and Henri Bendel are still owned by L Brands and still occupy 3 Limited Parkway. Drive just a little further into Easton and there’s plus-size leader Lane Bryant and tween concept Justice, two former Wexner properties now owned by Ascena brands. The common thread here is Wexner, the unofficial king of Columbus, whose disproportionate stake in the business of American shopping malls helped to define specialty apparel retail — and hence the way average Americans dressed around the country — for more than 30 years. He even owned Abercrombie & Fitch until the brand was spun off and went public in 1996. Wexner’s employees have also helped to define the culture of Columbus, which is a world apart from the nearby Rust Belt, the region of the US most affected by de-industrialisation. Detroit, Pittsburgh, Buffalo, Cincinnati, Cleveland: these are all cities where blue-collar manufacturing long reigned and that have been deeply injured and debilitated by its disappearance. In contrast, the Columbus metropolitan area is predominantly white collar, with a major public university — Ohio State — supporting its backbone and a gross domestic product of $124 billion in 2015, according to the US Bureau of Economic Analysis. Chase Bank has been headquartered here since its merger with Bank One in 2004. Nationwide Insurance, Cardinal Health, Wendy’s and American Electric Power are also here. Even as cities like Flint and Detroit, Michigan, began hurting as automobile manufacturing jobs moved overseas, Japanese car brand Honda opened a manufacturing plant in Marysville, Ohio, in 1982. By 2015, the company employed nearly 14,000 workers in Ohio, many of whom are just an hour north of Columbus in East Liberty and Raymond, where there is a plant and research and development facilities, respectively. The city’s diversified economy helped it come out of the Great Recession relatively unscathed, while its mix of residents — from Honda’s Japanese managers to retail executives to university students, researchers and staff — has nudged along the city’s cultural offerings, from art to food to retail. Columbus' fashion and retail companies employ more than 8,000 people and it claims to house the third-highest concentration of fashion designers in the US, after New York and Los Angeles. “When you think about our retail sector and the diversity of the people that operate in the retail sector, that brings thousands of people in that industry into our community that would have never lived here,” says Kenny McDonald, president of Columbus 2020, the economic development organisation for the region’s 11 counties. “It’s a common reaction for consultants passing through to say, ‘I can see why you’re here.’ It’s not a logistics location.” For the city’s creative transplants, the minimal traffic, strong public school system and relatively easy access to major metropolitan cities including New York (a one-hour-and-15-minute flight), Chicago (a five-hour drive) and Los Angeles (a four-hour flight) makes Columbus an appealing alternative to the chaotic nature of a major metropolis. “When I was living in New York, everything was frenetic, even getting to work was stressful for me,” says Aaron Levine, who left a cushy job at the Ralph Lauren-owned Club Monaco in 2015 to lead men’s creative at Abercrombie & Fitch. Levine, who was commuting from upstate New York to Manhattan for Club Monaco, uprooted his wife and twin daughters to make a go of it in Columbus. “I was getting to a point where I was really high anxiety. The stress level at work is still high, but the quality of life is mellow. My round trip commute is 40 minutes, backroads, by some cows. I have a pickup truck.” Brian Beitler, who joined Lane Bryant as chief marketing officer in October 2014, did the same, although this was his second stint in the city. (The first was from 2005 to 2007, when he was VP of marketing at Bath & Body Works.) “The retail world pulls people from New York, from LA, from these coastal fashion destinations — both domestic and global — into Columbus,” he says. “They have taste levels and expectations for art and culture and food. These people expected vibrant food scenes and, so, they developed.” The evenness of the city — culturally mixed, politically diverse — has also made it a favourite testing ground for new retail concepts. “If it works in Columbus, it’s broadly a concept that can work in other parts of the country. If it didn’t work in Columbus and you tried to take it elsewhere, it wouldn’t work either,” Beitler adds. “That’s been an advantage for the retailers that are based here. Columbus has developed as this little microcosm of the country. It’s not just retailers or the food industry, it’s political parties that have realised that as well.” But while Columbus’ idyllic mix of suburban comfort and college-town culture may appeal to executives seeking another kind of life, the city is bracing itself for a different sort of revolution: a retail revolution that is rocking the foundations of the American fashion industry. “While we’re a diverse economy, we have a big chunk of this... what used to be your mall, which is now whatever it is online, or a combination of both,” McDonald says. “The industry is going through a period now where I think there are more business model changes than maybe you’ve had in the past. It’s not just fashion choices, it’s literal business models. We keep asking ourselves, ‘How can we make that stronger? How can we continue to be not only thought leaders, but execution leaders?’” One of Wexner’s greatest skills is his ability to fling off brands. He acquires them, whips them into shape and sells them (or pushes them to IPO) before they are cause for concern. But he almost exclusively deals in specialty retail, or single brand stores that cater to a certain demographic, whether that meant making sexy lingerie accessible at Victoria’s Secret or outfitting several generations of teens in Abercrombie & Fitch. But specialty retailers from The Limited to Gap have suffered over the past decade, thanks to the rise of “cheap chic” fast fashion giants and the growth of e-commerce, which made a trip to the typical suburban mall, where most of these retailers leased stores, unnecessary. Today, nearly all of Columbus’ major apparel brands are struggling. Abercrombie & Fitch, which saw annual revenues drop by about a billion dollars between 2013 and 2016, eliminated 150 jobs at its headquarters in January. That same month, Sun Capital announced the end of The Limited. Victoria’s Secret, long the dominant player in the American women’s underwear market, has not managed to adapt quickly enough to the changing tastes of consumers — who are abandoning the brand’s bread-and-butter underwire and push-up bras in droves for comfort cotton — with comparable store sales down 16 percent year-over-year in February 2017. Express saw fiscal year 2016 net sales drop 7 percent year-over-year to $2.2 billion, and fourth quarter net sales decrease by 11 percent to $679 million. Net sales were up 3 percent to $1.1 billion at Ascena’s Lane Bryant in its 2016 fiscal year — thanks to its standing in the underserved plus-size market, as well as its tendency to be located in outdoor shopping centres instead of dead indoor malls — but down 13 percent to $1.1 billion at tween chain Justice. Shifting consumer spending has already resulted in job losses at some of the area’s apparel companies, but if the trend continues, the ripple effect in Columbus could be significant. At the Columbus 2020 offices in a quiet, office building-filled area of the city near the Scioto River, McDonald lays out a centerfold-size sheet detailing the city’s “retail innovation ecosystem,” which shows which retail companies are headquartered there (DSW shoe warehouse, L Brands and A&F, etc.) alongside those with satellite offices in the city (Ascena, JC Penney) and call centres (Gap, BMW). Perhaps more tellingly, it also lists the dozens of companies who form the ecosystem that sprung up to serve Columbus’ major retailers. Seven store design agencies. Eight retail installation agencies. Twelve branding, marketing and advertising agencies. Not to mention the more than 40 distribution and fulfillment centres (from Eddie Bauer to Luxottica), eight logistics companies and dozens of information technology firms, dealing in everything from point-of-sale to supply chain, analytics and online sales and marketing. Alliance Data Retail Services, which makes private-label credit cards for retailers, was borne out of the merger of J. C. Penney and The Limited’s credit card operations. If Columbus’ top retailers continue to suffer, won’t these businesses suffer as well? The attitude of regional officials is that whether or not the actual brands survive, the needs for these services — from new retailers that emerge in the area or elsewhere — will remain. “From an economic development standpoint, we may look at it a little differently and say, ‘The stronger we can make the support of the industry, the better,’” McDonald says. But even if the area’s distribution centres and technology firms increasingly service apparel companies and other retailers with headquarters outside of Columbus, it’s not like those firms aren’t having trouble as well. After all, the troubles in Columbus are symptomatic of the American retail industry as a whole. “There needs to be a change of thinking,” says Joseph Licata, founder and principal of Licata Creative Group, an agency with clients in retail, fashion and consumer-packaged goods with offices in both Columbus and New York. “When an entire brand closes, people worry about the state of things in Columbus. For instance, the housing market certainly shifts depending on retail. But I’m not so sure that people are worried about losing their jobs.” At least not yet. “I don’t think the [philosophy] that has driven these companies [in the past] will take them to the next phase of growth,” Licata explains. “A lot of this legacy leadership tends to look backwards. They say, ‘We were really amazing in 2006 and 2007,’ as opposed to, ‘What does the future of our brand company look like?’ I worry that innovation is slowing and the appetite for risk isn’t there.” Indeed, the biggest criticism is that there is little risk taking at these firms, or at least none that can be detected by the products they are creating or the retail environments they are offering. Part of the problem is binding long-term leases that keep retailers tied to undesirable shopping centres. But another is lack of innovation. Many of these companies are too large to take the sort of big leaps they would need to to challenge their disruptors. The Limited is gone, but who will be next? One glimmer of hope is at Abercrombie & Fitch, where Levine was promoted to head designer in December 2016 and well-regarded chief merchandiser Fran Horowitz was made chief executive earlier this year. The moves gave shareholders and industry insiders hope that the company was finally out of the grip of longtime chief Mike Jeffries, whose questionable HR policies and crude public comments left a bad taste in the consumer’s mouth. Levine came up in menswear, but his aptitude for the brand gave Horowitz the confidence that he could take the beloved, if battered, brand forward across both men’s and women’s collections. Levine’s men’s collections have been a hit with editors, but his decidedly adult take on brand classics like cargo-pocket trousers and button downs have not aligned with the rest of the brand’s output, including its creative and its women’s offering, which has continued to chase the teen market. With new store concepts rolling out and a marketing refresh underway, new women’s collections are set to debut in stores in the autumn of 2017. But while Abercrombie & Fitch is making a play for a revival, what Columbus — and the entire specialty retail sector at large — really needs to do is take a page out of Wexner’s original playbook and innovate, abandoning dead-in-the-water brands along the way. A few new retail concepts emerging in the city, including Samson, a multi-brand menswear store that caries a mix of rugged indie labels, and One Six Five, a well-priced, clean-lined collection of jewellery designed by locals Kaleigh Shrigley and Claire Lowe. “I do think we have to take the mentality that brands will come and go,” McDonald says. “Brands will succeed and fail, or go up and down at least.” Whether or not Columbus will be a part of that next wave remains to be seen. Did you know that BoF Professionals receive our print issues first? Annual BoF Professional memberships also include unlimited access to articles, exclusive analysis, invitations to networking events and the members-only app. Not a BoF Professional? Subscribe here. The issue is also available for purchase at shop.businessoffashion.com and at select retailers around the world. Anna Wintour on Politics and the Fashion Business in Trump's America Anna Wintour on the Met Ball, the Future of Magazines and Her Own Future


News Article | May 10, 2017
Site: www.marketwired.com

Legal Industry Veterans from American Electric Power (AEP) and eTERA Consulting to Discuss When a Subscription Based Pricing Model Makes Business Sense for Corporations WASHINGTON, DC--(Marketwired - May 10, 2017) - eTERA Consulting, an international, award-winning leader in data and technology management, today announced it will host a complimentary webinar on when subscription based data management services make business sense for corporations. The live broadcast will air on Thursday, May 11, 2017 at 11 a.m. EDT featuring Julie Richer from American Electric Power (AEP) and Todd Haley from eTERA. The webinar will provide attendees with information on how to best mitigate the high costs that coincide with managing corporate data. Many corporations utilize an á la carte model for paying for these services, but subscription based pricing can sometimes be a better fit, depending on the corporation's needs. Subscription data management services give corporations the ability to manage complex pricing structures with an organized, customizable process that provides cost certainty, budget predictability and the ability to select multiple services. To register, please click here. Julie Richer is the Legal Operations and Discovery Manager at American Electric Power (AEP) in Columbus, Ohio, an electric utility company with 18,000 employees across 11 states. Julie manages discovery processes such as data collection and processing, legal hold, case strategy as well as document review activities. Julie also manages the Legal Operations team responsible for invoicing, reporting, vendor management, process improvement, knowledge management, application implementation, adoption and support. Todd Haley serves as the Vice President of Strategic Solutions at eTERA. He consults on eTERA's Client Delivery System (CDS) team and all processes, procedures and reports necessary to ensure the handling of all client eDiscovery and data management projects. Todd brings his experience as Chief Technology Officer, directing both IT and litigation support in a nationally recognized consulting firm to the forefront. Founded in 2004, eTERA Consulting is an international, award-winning organization selected by clients to help solve the challenges of complex, big data projects in the areas of information governance, investigations, litigation, regulatory compliance and security breach response. Built by the clients, for the clients®, eTERA provides customized data management solutions and services to Fortune 500 companies and the Am Law 100 at the intersection where legal, data analytics, security and information technology meet. eTERA's experienced subject matter experts ensure client engagement success by using best practices, leading technologies and proven project management methodologies combined with exceptional client service. Having passed the most stringent security audits, eTERA is trusted by the world's largest insurance, financial services, pharmaceutical and energy companies. Headquartered in Washington D.C., eTERA maintains offices in Chicago, Detroit, Paris and Shanghai.


Teknologiakonserni Wärtsilä on allekirjoittanut sopimuksen Greensmith Energy Management Systems Inc:n (Greensmith) hankkimisesta. Yhdysvalloissa toimiva Greensmith on edelläkävijä älykkäiden energian varastointiteknologioiden ja -ratkaisujen kehittämisessä. Kauppahintaa ei julkisteta. Hankkimalla Greensmithin Wärtsilä pystyy laajentamaan toimintaansa energian varastointimarkkinoilla ja nostamaan itsensä johtavaan asemaan globaalina energiajärjestelmien integroijana. Kaupan loppuunsaattamisen edellytyksenä on Yhdysvaltojen viranomaisten hyväksyntä. Yhtiön omistus siirtyy Wärtsilälle kaupan loppuunsaattamisen jälkeen, minkä odotetaan tapahtuvan viimeistään heinäkuussa 2017. Vuonna 2008 perustettu Greensmith on arvostettu ja johtavassa asemassa oleva energian varastointiteknologian ja järjestelmäintegraation tuottaja. Se on toteuttanut noin kolmanneksen Yhdysvaltojen energiavarastointikapasiteetista vuonna 2016. Energian varastoinnin optimointiin ja integraatio-ohjelmistoihin erikoistunut yhtiö työllistää tällä hetkellä reilut 40 ihmistä, ja se on toimittanut yli 180 megawattia suurille  energiayhtiöille eri puolilla maailmaa. "GEMS on varastointijärjestelmien integroinnin se johtavaalusta, ja näemme, että Greensmithillä on valtava potentiaali jatkaa tämän alan innovointia ja muovausta yhdessä Wärtsilän kanssa", Ram Sastry, Vice President of Infrastructure and Continuity, American Electric Power (AEP). Wärtsilä Energy Solutions lyhyesti Wärtsilä Energy Solutions on johtava kansainvälinen järjestelmäintegraattori, jolla on monipuolinen valikoima erilaisia ympäristön kannalta kestäviä ratkaisuja. Tarjontaan sisältyy erittäin joustavia polttomoottorikäyttöisiä voimalaitoksia, suuria aurinkovoimaloita sekä LNG-terminaaleja ja -jakelujärjestelmiä. Wärtsilän joustavat ja tehokkaat ratkaisut tuottavat lisäarvoa ja mahdollistavat siirtymisen entistä kestävämpään ja nykyaikaisempaan energiajärjestelmään. Wärtsilän vuoteen 2017 mennessä toimittamien voimalaitosten asennettu kapasiteetti on 63 GW, ja toimituksia on tehty yhteensä 176 maahan. www.smartpowergeneration.com Wärtsilä lyhyesti Wärtsilä on kansainvälisesti johtava edistyksellisen teknologian ja kokonaiselinkaariratkaisujen toimittaja merenkulku- ja energiamarkkinoilla. Wärtsilä maksimoi asiakkaiden alusten ja voimalaitosten ympäristötehokkuuden ja taloudellisuuden keskittymällä kestäviin innovaatioihin ja kokonaishyötysuhteeseen. Vuonna 2016 Wärtsilän liikevaihto oli 4,8 miljardia euroa ja henkilöstömäärä noin 18 000. Yrityksellä on yli 200 toimipistettä yli 70 maassa eri puolilla maailmaa. Wärtsilän osakkeet on listattu Nasdaq Helsingissä. www.wartsila.com


Wärtsilä Corporation, Press release, 15 May 2017 at 10:00 am EET The technology group Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. (Greensmith), a US-based leader in intelligent energy storage technology and solutions, for an undisclosed amount. The acquisition of Greensmith will enable Wärtsilä to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator. The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017. Founded in 2008, Greensmith is a recognized leader in energy storage technology and systems integration, responsible for deploying about a third of total US energy storage capacity in 2016. Specializing in energy storage optimization and integration software, the company today employs over 40 people and has delivered in excess of 180 MW to some of the largest power companies globally. Greensmith has developed a world-leading energy management software system called GEMS, currently offered in its fifth generation. This platform enables utilities, Engineering Procurement and Construction companies and Independent Power Producers to manage and monitor individual systems or entire fleet of systems, identifying and diagnosing equipment issues in real time, and extending system performance and longevity-therefore increasing return on investment. The company also offers a Commercial and Industrial (C&I) and micro-grid solution called OMNI4. Energy storage is expected to grow exponentially as it becomes an integral part of any energy system. With this in mind Wärtsilä aims to become a global systems integrator with full in-house capabilities specializing in solutions that offer the combination and optimisation of different forms of power generation, energy storage and demand side management. Having an integration software platform is a must and acquiring Greensmith gives Wärtsilä an industry leading platform to offer across an installed base of over 63 gigawatts of power generation around the world. "Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match," says Javier Cavada, President at Wärtsilä Energy Solutions. "We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions," said John Jung, CEO of Greensmith. "The combination of Greensmith's proven technologies and Wärtsilä's global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market." "Greensmith is one of the true pioneers in the energy storage business. After a very successful partnership both as investor and business partner, we are very excited about continuing the great relationship with Greensmith as part of Wärtsilä, providing even better energy storage solutions for customers in the USA and Europe," says Dr. Philipp Ulbrich, VP of Strategic Co-Investments, the CVC arm of E.ON. "GEMS is the de facto platform for storage systems integration and we see tremendous potential for Greensmith to continue innovating and shaping this industry in partnership with Wärtsilä," - Ram Sastry, Vice President of Infrastructure and Continuity at American Electric Power (AEP). For further information please contact: Wärtsilä Energy Solutions in brief Wärtsilä Energy Solutions is a leading global systems integrator offering a broad range of environmentally sound solutions. Its offering includes ultra-flexible internal combustion engine based power plants and utility-scale solar PV power plants, as well as LNG terminals and distribution systems. The flexible and efficient Wärtsilä solutions provide customers with superior value and enable a transition to a more sustainable and modern energy system. As of 2017, Wärtsilä has 63 GW of installed power plant capacity in 176 countries around the world. www.smartpowergeneration.com Wärtsilä in brief Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki. www.wartsila.com Greensmith in brief As the leading provider of energy storage software and integration services, Greensmith's mission is to make energy storage a fundamental part of a cleaner, more intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith's GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing system return on investment. Greensmith Energy designs and deploys the world's most advanced energy storage systems. From grid-scale to behind-the-meter and microgrid solutions, the Greensmith GEMS software platform enables effective and efficient delivery of stable power with unsurpassed performance and profitability.


SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Asset Management (WFAM) announced on Monday, May 8, that Kayvan Malek has been appointed as senior portfolio manager of the Multi-Asset Solutions team. In this role, he will take on a broad range of responsibilities, including managing real assets as well as global total-return portfolios for both retail and institutional clients, applying forward-thinking portfolio construction and risk management processes across asset classes. Malek will be based in San Francisco and will report to Nicolaas Marais, president of WFAM and head of Multi-Asset Solutions. Malek previously served as managing director and head of commodities, volatility, and long-horizon investments in the BlackRock global markets strategies group. “ Malek is an important addition to our Multi-Asset Solutions team. His experience in commodity and volatility trading will play a crucial role as we continue to strengthen WFAM’s focus on mufti-asset-class solutions and risk management expertise in product and business development,” said Marais. “ We will continue to form our team with the best industry talent, helping build a business that focuses intensely on investor outcomes and what our clients need.” Malek had been with BlackRock as managing director and head of commodities, volatility, and long-horizon investments with the global markets strategies group. Before BlackRock, he co-founded and was partner at 42 Capital. Previous roles include vice president and head of natural gas trading at Constellation Energy and vice president and head of fixed price and derivatives trading at American Electric Power. He began his career with Enron in 1997. Malek earned a master’s degree in management from J.L. Kellogg Graduate School of Management and a bachelor’s degree in economics from DePaul University. Wells Fargo Asset Management, a division of Wells Fargo Wealth and Investment Management, strives to help clients achieve their financial goals through top-tier investment options managed by specialized investment teams that are supported by independent risk management and backed by superior, collaborative service. With more than $481 billion in assets under management,* Wells Fargo Asset Management has 29 autonomous investment teams with specialized expertise and proven processes, more than 500 investment professionals, and a global reach with offices and clients around the world. Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 locations; 13,000 ATMs; the internet (wellsfargo.com); and mobile banking and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune’s 2016 ranking of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories. Wells Fargo Asset Management (WFAM) is a trade name used by the asset management businesses of Wells Fargo & Company. Wells Fargo Funds Management, LLC, a wholly owned subsidiary of Wells Fargo & Company, provides investment advisory and administrative services for Wells Fargo Funds. Other affiliates of Wells Fargo & Company provide subadvisory and other services for the funds. The funds are distributed by Wells Fargo Funds Distributor, LLC, Member FINRA, an affiliate of Wells Fargo & Company. Neither Wells Fargo Funds Management nor Wells Fargo Funds Distributor has fund customer accounts/assets, and neither provides investment advice/recommendations or acts as an investment advice fiduciary to any investor. 303487 05-17 NOT FDIC INSURED - NO BANK GUARANTEE - MAY LOSE VALUE


Patent
American Electric Power and Batelle Memorial Institute | Date: 2015-09-30

A method of evaluating an optimization system is disclosed. The system is transitioned from an on state to an off state. Data is collected at time intervals for a time period before and after the system is transitioned from the on state to the off state. The transitioning occurs while a load of a particular type is active. In one embodiment, the optimization system is a Volt/VAR Optimization (VVO) system.

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