The Journal Gazette
Wednesday, January 20, 2016 10:34 pm

C&A Tool to expand, add 51 jobs

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Fifty-one new jobs are coming to Churubusco.

C&A Tool Engineering Inc. announced Wednesday that it is expanding operations and adding the jobs in 2016.

The company has invested more than $6 million in equipment to add a new production line and increase production capacity for the medical device sector.

The town of Churubusco approved a 10-year tax abatement in support of the company’s expansion efforts.

C&A Tool, a tool and die maker, has approximately 590 full- ;time employees at operations in Churubusco and Auburn.

Oil leak ‘act of God’: Company president

A dec­ade-old oil leak that could last for another century was caused by an "act of God" during a hurricane in the Gulf of Mexico, the president of the company responsible said Wednesday.

The assertion from Taylor Energy President William Pecue didn’t sway environmental advocates who attended a daylong meeting in Baton Rouge, where the company satisfied terms of a court settlement by presenting information about its efforts to end the leak off Louisiana’s coast.

Pecue, citing "potential future litigation," declined to answer an audience member’s written question pressing him to explain why he considers the leak to be an act of God.

"Defining why we believe this is an ‘act of God event’ gets into a legal definition that is not appropriate for today," he said.

Energy cost brings down overall prices

U.S. consumer prices fell in December but, for 2015 overall, rose by the smallest amount in seven years, reflecting a big drop in energy prices.

Consumer prices slipped 0.1 percent last month after a flat reading in November, the Labor Department reported Wednesday. For the entire year, overall inflation was up just 0.7 percent, even smaller than a 0.8 percent rise in 2014.

Both years were heavily influenced by plunging energy prices. It was the weakest annual increase since a 0.1 percent rise in 2008.

Homebuilding ends ’15 on 8-year high

U.S. builders started fewer homes in December, but previous gains meant that residential construction ended 2015 at its healthiest level in eight years.

Housing starts dipped 2.5 percent last month to a seasonally adjusted annual rate of 1.15 million homes, the Commerce Department said Wednesday.

This marks some give-back after starts climbed 10.1 percent in November, in addition to the drag caused by flooding across parts of the South and Midwest that likely slowed construction.

Shell profits crash over crude prices

Royal Dutch Shell expects its fourth-quarter profits to drop at least 40 percent to between $1.6 billion and $1.9 billion after a sharp drop in crude oil prices, but it underscored its determination to press ahead with the proposed mega-merger with BG Group.

The Anglo-Dutch energy ­giant said Wednesday that it released the figures for shareholders ahead of a vote next week on the proposed combination, a $69.7 billion deal widely seen as an effort to adapt to lower prices.

The figures reported were on a current cost-of-supply basis, the oil industry accounting standard that takes into account fluctuations in the price of oil.

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