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Shares fell 3% after the home improvement chain remodeled its corporate structure and axed two of its retail executives. Home Depot also assigned new roles and duties to other executives in an effort to streamline the company's decision-making process. Home Depot's shares have lagged since the beginning of the year as housing sales slowed. Raymond James analyst Budd Bugatch cut his rating on the stock to Outperform from ... .
Americas premier motorsports attraction is growing in the Las Vegas Motor Speedway infield. Construction crews have started adding the second floor to LVMS Neon Garage. The second level will allow race fans who have purchased passes to the Neon Garage to look directly down into the garage bays as the NASCAR Nextel Cup Series crewmen tune their cars. The Neon Garage will be positioned in the center of the infield. It will be composed of four buildings constructed in the shape of a diamond in which the NASCAR Nextel Cup teams will prepare their cars to race. The center of the Neon Garage will be open to credentialed race fans. There will be a sports bar with big screens to watch the on-track action, concession stands and continuous entertainment acts that represent Las Vegas best shows.
The construction company E&R Erectors Inc. of Bensalem, Pa. was issued a citation with a proposed penalty of $140,000 for safety violations committed during construction of the University's new College of Law building. The company was hired as a sub-contractor for steel assembly by P. Agnes, Inc., the University's contractor for the building.
The U.S. Department of Labor Occupational Safety and Health Organization (OSHA), which enforces safe working conditions in the U.S., cited the construction company for its lack of fall protection while performing structural steel activities and steel beam connection work.
"Over the years, Drexel has enjoyed a very positive and credible working experience with P. Agnes, Inc. on construction projects that have taken place on campus," said Anthony Caneris, senior vice president of Student Life and Administrative Services.
COMMERCE CITY - Last year, voters approved a bond initiative to allow the Commerce City Northern Infrastructure General Improvement District to issue bonds for the widening of East 104th Avenue between Highway 85 and E-470. Phase 1 of this project has been broken into five separate segments. Initial work was on 104th Avenue from Walden Street to, and including, Tower Road. This phase was completed in July. Work on the remaining phases involving 104th will begin in the coming weeks, and is scheduled to be completed in the spring of 2007. The second phase will include work on 104th from Tower Road to E-470; phase 3 is from Highway 2 to the eastern limits of the Turnberry Subdivision; phase 4 is from the O'Brian Canal to the BNSF railroad; and phase 5 is 104th Avenue at, and including Highway 2.
The Koc Group, a strong force driving the Turkish economy, opened a new factory on Friday in Russia, the group's first facility planned and built abroad. The new white goods production plant was built in the city of Vladimir, 110 kilometers east of Moscow. Rahmi Koc, honorary chairman of the Koc Group, delivered a speech at the factory's opening ceremony. "We spent €90 million to build this facility. Although this amount does not seem big, the step we took is really great," Koc said. Koc said that Russia was chosen for investment by the Koc Group because of the great potential in the appliances industry in the country. "The stability in the Russia's economy and our faith in this country encouraged us to make such an important investment here," he said. Arcelik's new Beko LLC refrigerator and washing machine factory was built on 545,000 square meters by Kaya Construction Co.
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