No, not the murder count as taday! And not that Troll's been booted outa his digs! None of that!
This is much bigger, and of greater import...
Sunoco refinery to stay open in Philadelphia
PATRICK WALTERS
From Associated Press
July 02, 2012 11:33 AM EDT
PHILADELPHIA (AP) The oldest and largest refinery on the East Coast will stay open thanks to a deal between Sunoco and the global asset manager The Carlyle Group, with the groups announcing Monday that they have agreed to terms on a joint venture at the facility.
The Philadelphia refinery, which had struggled to make money as the price of imported crude oil rose, was scheduled to close in August. In April, Sunoco announced that it had entered into "exclusive discussions" with Carlyle about a possible joint venture involving the 330,000-barrels-per-day facility, which has about 850 workers.
On Monday, the groups announced they had agreed to form Philadelphia Energy Solutions, a joint venture that will enable the facility to continue operating. In a statement, the companies said the agreement will save all of the current refining jobs and create up to 200 more as the refinery is updated and expanded. The deal is expected to close in the third quarter. Financial terms weren't disclosed.
"This is the best possible outcome for everyone involved," Brian P. MacDonald, Sunoco's chairman and chief executive officer, said in a statement. "Existing jobs will be saved, new jobs will be created and new business opportunities will be given the chance to develop."
Under terms of the agreement, Sunoco will contribute its refinery assets to the joint venture in exchange for a non-operating minority interest. Carlyle will have the majority interest and oversee day-to-day operations, officials said.
Carlyle Managing Director Rodney Cohen said the company planned $200 million worth of capital improvements and would bring in a new leadership team.
"We are going to explore a range of new energy and chemical businesses," Cohen said on a conference call. "The way to revitalize in this facility is to invest."
Gov. Tom Corbett lauded the announcement of the project, which is getting state support. The Pennsylvania Legislature earlier this year approved the creation of a tax-free zone for the site, while the state is offering up to $25 million in construction aid and an offer to issue tax-exempt bonds, Corbett said.
"My goal is to see Pennsylvania become an energy capital, a major player in the world," Corbett said. "This is a major step toward that."
Union leaders also praised the agreement. Members were scheduled to vote on a new contract later Monday.
"Not only will good paying manufacturing jobs be saved, but new ones will be created as this vital facility is improved and expanded," United Steelworkers president Leo Gerard said.
___
Associated Press writer Marc Levy contributed to this report from Harrisburg, Pa.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
It is good news. New tracks are going to be put in to the refinery to off load oil. Looks like a win win. They finally figured what to do with the place. The previous CEO just wanted to do a Bain thing, keep the gas stations to make the profits in selling coffee. She didn't want to produce anything.
The Krink said
7:51 AM, 07/03/12
Sunoco fuel is the fuel of NASCAR. NASCAR loves to burn Sunoco fuel at the most maximum rate possible. Sounds like a marriage made in heaven.
Uke said
3:52 PM, 07/03/12
Speakin' of the murder rate... Seattle just hit 22 homicides for 2012. That's 22 people killed in the first 184 days of this year...
So what IS the count Troll? You haven't updated BurningJournaldotcom readers in a while... Just sayin'!
Cy Valley said
4:03 PM, 07/03/12
I want to know which city is leading, Chicago has been in the news a whole lot lately. Troll, you're the statistician.
Uke said
5:45 PM, 07/03/12
Yeah! Make yerself useful... Since you're obviously NOT working, maybe you'll find a few minutes ta update the numbers.
But if ya don't have an exact count from official sources, just make something up!
Troll said
9:17 PM, 07/03/12
Uke wrote:
Speakin' of the murder rate... Seattle just hit 22 homicides for 2012. That's 22 people killed in the first 184 days of this year...
So what IS the count Troll? You haven't updated BurningJournaldotcom readers in a while... Just sayin'!
Uke....don't bother me with that small change shit.
Crime Maps & Stats
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CrimeReports.com provides a snapshot of crime in Philadelphia around an address or intersection.
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* The official criminal homicide statistics that will be submitted to the FBI as part of the national UCR reporting system for 2011 is 324; three homicides previously counted in the year-end statistics were ruled justifiable homicides by the District Attorney's Office.
Homicide Data
July 3, 2012 As of 23:59 Previous Day
187
8%
165
151
147
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203
The above homicide statistics for 2012 represent the daily count (statistics reflect the accurate count during normal business hours, Monday through Friday) and year-to-date total for victims of homicide and are subject to reclassification according to the rules and regulations of the FBI's Uniform Crime Reports (UCR) guidelines. The homicide statistics above for years 2010, 2009, 2008 and 2007 have been submitted to the FBI as the final UCR numbers for the City of Philadelphia.
Uke said
11:20 PM, 07/03/12
Seattle ain't got a snowball's chance...
The Krink said
7:52 AM, 07/04/12
No brotherly love in Seattle. We have to depend on Manchurian Candidates mostly to even be in double-digits for 2012.
No, not the murder count as taday! And not that Troll's been booted outa his digs! None of that!
This is much bigger, and of greater import...
PHILADELPHIA (AP) The oldest and largest refinery on the East Coast will stay open thanks to a deal between Sunoco and the global asset manager The Carlyle Group, with the groups announcing Monday that they have agreed to terms on a joint venture at the facility.
The Philadelphia refinery, which had struggled to make money as the price of imported crude oil rose, was scheduled to close in August. In April, Sunoco announced that it had entered into "exclusive discussions" with Carlyle about a possible joint venture involving the 330,000-barrels-per-day facility, which has about 850 workers.
On Monday, the groups announced they had agreed to form Philadelphia Energy Solutions, a joint venture that will enable the facility to continue operating. In a statement, the companies said the agreement will save all of the current refining jobs and create up to 200 more as the refinery is updated and expanded. The deal is expected to close in the third quarter. Financial terms weren't disclosed.
"This is the best possible outcome for everyone involved," Brian P. MacDonald, Sunoco's chairman and chief executive officer, said in a statement. "Existing jobs will be saved, new jobs will be created and new business opportunities will be given the chance to develop."
Under terms of the agreement, Sunoco will contribute its refinery assets to the joint venture in exchange for a non-operating minority interest. Carlyle will have the majority interest and oversee day-to-day operations, officials said.
Carlyle Managing Director Rodney Cohen said the company planned $200 million worth of capital improvements and would bring in a new leadership team.
"We are going to explore a range of new energy and chemical businesses," Cohen said on a conference call. "The way to revitalize in this facility is to invest."
Gov. Tom Corbett lauded the announcement of the project, which is getting state support. The Pennsylvania Legislature earlier this year approved the creation of a tax-free zone for the site, while the state is offering up to $25 million in construction aid and an offer to issue tax-exempt bonds, Corbett said.
"My goal is to see Pennsylvania become an energy capital, a major player in the world," Corbett said. "This is a major step toward that."
Union leaders also praised the agreement. Members were scheduled to vote on a new contract later Monday.
"Not only will good paying manufacturing jobs be saved, but new ones will be created as this vital facility is improved and expanded," United Steelworkers president Leo Gerard said.
___
Associated Press writer Marc Levy contributed to this report from Harrisburg, Pa.
at the most maximum rate possible. Sounds like a marriage made
in heaven.
So what IS the count Troll? You haven't updated BurningJournaldotcom readers in a while... Just sayin'!
But if ya don't have an exact count from official sources, just make something up!
Uke....don't bother me with that small change shit.
Crime Maps & Stats
CrimeReports
Fast Facts about CrimeReports.com
Disclaimer & Frequently Asked Questions
Explore CrimeReports Now!
Year-End Totals
* The official criminal homicide statistics that will be submitted to the FBI as part of the national UCR reporting system for 2011 is 324; three homicides previously counted in the year-end statistics were ruled justifiable homicides by the District Attorney's Office.
Homicide Data
As of 23:59 Previous Day
8%
The above homicide statistics for 2012 represent the daily count (statistics reflect the accurate count during normal business hours, Monday through Friday) and year-to-date total for victims of homicide and are subject to reclassification according to the rules and regulations of the FBI's Uniform Crime Reports (UCR) guidelines. The homicide statistics above for years 2010, 2009, 2008 and 2007 have been submitted to the FBI as the final UCR numbers for the City of Philadelphia.
Candidates mostly to even be in double-digits for 2012.