Jobs That Pay, Press Release Harrisburg, PA – Governor Tom Wolf announced today that Hearth & Home Technologies (HHT), a hearth products manufacturer, will expand its presence in Halifax, Dauphin County by consolidating an out-of-state stove manufacturing site into its site in Pennsylvania – a move that will create at least 51 new jobs over the next three years.“I’m excited to share the news that Hearth & Home Technologies – already a major employer in this rural area– will be expanding its Dauphin County operations and increasing the size of its current Pennsylvania workforce by around 25 percent,” said Governor Wolf. “Pennsylvania has a long manufacturing history and HTT already knows the advantages that our borders provide. I commend HHT on its continued commitment to the commonwealth and anticipate its continued success into the future.”In response to its excess domestic stove manufacturing capacity, HHT will consolidate its manufacturing operations from Colville, Washington into its Halifax, Pennsylvania facility. The company has committed to an investment of at least $3.45 million in the consolidation project. HHT has also committed to the creation of 51 new, full-time jobs over the next three years, and to the retention of its current Pennsylvania workforce of 200 employees. The company plans to initiate hiring of new employees in mid-to-late 2017.“We appreciate the support of the Dauphin County community and Governor Wolf in this transition,” said President of Hearth & Home Technologies, V.P. Berger. “We are confident that our terrific team in Halifax will take this opportunity to continue to deliver high-quality, on time, best cost products for our customers.”HHT received a funding proposal from the Department of Community and Economic Development that consists of a $300,000 Pennsylvania First program grant and $102,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs. The company has also been encouraged to apply for a $1.5 million low-interest loan from the Pennsylvania Industrial Development Authority.The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.Hearth & Home Technologies is an operating division of HNI Corporation (HNI). HNI Corporation provides products and solutions for the home and workplace environments and is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI’s hearth products include a full array of gas, electric, wood, and biomass burning fireplaces, inserts, stoves, facings, and accessories.In 2016, DCED approved nearly $1.1 billion in low-interest loans, tax credits, and grants for projects across the commonwealth and secured private sector commitments for the creation and retention of more than 245,000 full-time jobs. In the same timeframe, the Governor’s Action Team completed 77 projects – creating and retaining more than 36,800 jobs. For more information about the Governor’s Action Team or DCED, visit dced.pa.gov.Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf February 15, 2017 Governor Wolf Announces 51 New Jobs with Hearth & Home Technologies Expansion in Dauphin County SHARE Email Facebook Twitter
Stock investors are implicitly adding 20% to defined benefit (DB) liabilities when analysing FTSE 100 companies, a study has shown.The report, by Llewellyn Consulting and sponsored by Pension Insurance Corporation (PIC), also found that FTSE 100 companies with the largest DB liabilities were most penalised by market investors.The research said investors picking stocks gave as much attention to the net-asset position of DB schemes as they did to the sponsor’s business operations.It also found that while deficits were of concern, more focus was placed on long-term pension liabilities. Llewellyn Consulting said net deficit positions at FTSE 100 companies averaged 4.7% of market capitalisation, while long-term pension liabilities were 47.5%.However, investors showed no confidence in the value of the liabilities and therefore inflated the figure by 20% to achieve what they believed to be a more accurate picture.John Llewellyn, of the eponymous consultancy, said it was “striking” that markets did not reflect the numbers presented by FTSE 100 companies.David Collinson, head of strategy at PIC, added: “Analysts and finance directors can struggle to put accurate figures on the shareholder value impact of the risks associated with a company’s DB pension scheme.“For the first time in the UK, they can now see an estimate of the weight investors put on the scale of risk,” he said.In other news, BNY Mellon has teamed up with consultancy Redington to provide UK pension funds with a reporting service for their liability-driven investment (LDI) portfolios.The bank and consultancy said the service should allow pension funds to track and monitor risk exposure and funding positions on a quarterly basis, which they said would help trustees understand how to meet liability requirements.It will also model the impact of changing economic circumstances on pension scheme funding levels.The service will be backed by Redington’s iRIS risk reporting tool, which will increase its usability by adding BNY Mellon’s data on derivatives used in LDI transactions.Lastly, the Agility Pension Plan has appointed Barnett Waddingham to monitor its fiduciary management contract with an unnamed provider.Alex Pocock, partner at the consultancy, noted the potential for conflicts of interests within the fiduciary management model and said he looked forward to working with the scheme’s board of trustees.Kim Nash, trustee at the £100m scheme, added that they were impressed by the pragmatic approach suggested by Barnett Waddingham.Appointing an outside consultant to monitor the performance of fiduciary mandates is not uncommon in the UK, with Hymans Robertson appointed to oversee Towers Watson on behalf of the Merchant Navy Officers’ Pension Fund in 2012.
In Katsina, Family Support Secondary School defeated Government College, Katsina to lift the state trophy and book a ticket for the zonal finals.The Sokoto State final saw Sultan Bello Secondary School defeat Army Day Secondary School 8-7 via penalties after the match had ended 2-2 at regulation time.Meanwhile, the Ebonyi State final was won by Holy Ghost Secondary School, Abakaliki after edging out Twelve Apostles College, Sharon, by a lone goal.All states champions are expected to have emerged on or before June 7.Other state champions are; Comprehensive Secondary School, Edemeya, Akwa Ibom State, Ahmadu Bahago Secondary School, Minna, Niger State,Â Government Day Secondary School, Lamisula, Borno State, Government Technical Training School, Jalingo, Taraba State.Share this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegram The state preliminaries of the NNPC/Shell Cup for All Nigeria Secondary Schools Football Championship, which began a few weeks ago in all states of the country and the Federal Capital territory is now producing schools that would represent each state at the zonal preliminaries.At the Oyo state final played on Tuesday at the popular Wesley College, Elekuro playground in Ibadan, 2014 National runners up, Brightville College, Ibadan lost to Asegun Comprehensive College, Ibadan by 1-0. It would be recalled that Asegun Comprehensive College hasd made several attempts at clinching the national trophy in the past. This could be their opportunity as they take another shot at the trophy.The Ogun State NNPC/Shell Cup final was between Comprehensive Academy, Abeokuta and Methodist Comprehensive College, Sagamu.Â This hostility hosted by Abeokuta Grammar School saw the former go home with the trophy after beating their opponents from Sagamu by 1-0.