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February 17, 2017

Musk uses Tesla to buy SolarCity

Elon Musk has taken a step towards rolling up his different corporate interests, using the high-flying stock of electric car company Tesla Motors to make an all-stock offer worth nearly $3bn for solar power company SolarCity. The prospect of Tesla paying a substantial premium for a company in which Mr

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Balfour Beatty tells PM: Borrow money and keep projects on track

The UK’s largest contractor said the government must take advantage of low interest rates and borrow more to fill the infrastructure investment black hole created by the UK’s vote to leave. The Infrastructure 2050 report stated that the falling interest rates made it the “ideal time” to borrow. It added

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New air quality guide from BSRIA

New air quality guide from BSRIA Published:  24 August, 2016 BSRIA has announced the release of a new topic guide on the subject of indoor air quality (IAQ), which is available to download free from its website. The BSRIA Topic Guides are designed to be an at-a-glance publication introducing readers

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Grade A office space at Pathfinder House comes to market in Huntingdon

On behalf of Huntingdonshire District Council, Savills has been instructed to market office space at Pathfinder House on St Mary’s Street in Huntingdon. The available suite comprises 3,983 sq ft (370 sq m) of Grade A office accommodation on the third floor of the property with Huntingdonshire District Council occupying

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Chester Company Prodo Housing Wins an Award

A marketing company faction known as Prodo Housing with a location in Cheshire has recently been awarded for its efforts of designing a special online app at the Housing Innovation Awards this year. It is a sign that the building and construction industries dealing with the development of housing all

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BCA Opens a New Center in Manchester

The Belle Vue area in the bustling city of Manchester is experiencing an exciting building and construction initiative that will help it to ensure that work is complete on time for an all new LCV remarketing site. The building work itself is well under way and targeted to be completed

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BDC 318 : Jul 2024

February 17, 2017

Musk uses Tesla to buy SolarCity

Elon Musk has taken a step towards rolling up his different corporate interests, using the high-flying stock of electric car company Tesla Motors to make an all-stock offer worth nearly $3bn for solar power company SolarCity. The prospect of Tesla paying a substantial premium for a company in which Mr Musk is already the chairman and the largest shareholder unnerved Wall Street and knocked nearly 13 per cent from Tesla shares in after-market trading. The $4.1bn that was wiped from Tesla’s stock market value overshadowed a $500m jump in SolarCity’s share price on the news. Mr Musk said that shareholders in both companies would vote on the deal, and that he would abstain from voting both his 21 per cent stake in Tesla and his 22 per cent SolarCity interest. “This would only move forward if there is a majority vote of the non-me shareholders in both companies,” he said. The dent to Tesla’s share price comes in stark contrast to the strong backing Mr Musk has been able to count on from investors up to now when issuing more stock to finance his company’s ambitions expansion. The company raised nearly $1.5bn from a stock sale last month as it scaled up plans for first proposed mass-market vehicle, the Model 3. “My personal opinion is that obviously this is something that should happen — like it’s a no-brainer,” Mr Musk said in conference call on Tuesday afternoon to announce the deal. By adding SolarCity’s solar panel installation and leasing business to Tesla’s electric cars, battery manufacturing and electricity storage, Tesla would become an “integrated sustainable energy company,” he said. SolarCity, run by Lyndon Rive, Mr Musk’s cousin, has had a mixed record since it went public in 2012. It rode a wave of enthusiasm for domestic solar installation as the price of panels fell steadily, sending its stock market value up to more than $8bn by early 2014. However, the credibility of the company’s management has been “at risk” after it “missed [expectations] or guided down multiple quarters in a row,” analysts at Deutsche Bank wrote in a report to investors earlier this year. Its stock price hit a low of $16.31 earlier this year, down from a high of more than $61 a year ago. From the archive From the US to China, solar power is poised to tackle climate change and shake up the electricity industry Folding SolarCity into Tesla would boost both companies, for instance by making it possible to sell solar panel installation through the car maker’s stores, Mr Musk said. The company’s products would also become more tightly integrated, he said. Tesla sells a home electricity storage unit called Powerwall that is also sold to SolarCity customers. The carmaker is building a massive battery plant in Nevada to supply both its electric vehicles and power storage businesses. SolarCity’s customers use the same technology to store excess power produced by their panels. “You’ll be able to go into a store and with a few clicks and a few words get everything from batteries to solar panels to electric cars,” Mr Musk said. Combining the two companies could also boost demands for SolarCity’s services, he added: “Most of our [Tesla] customers have an interest in solar — I’d be shocked if they don’t.” While the all-stock offer came at a low point in SolarCity’s fortunes, Mr Musk said the timing was determined by both companies’ product plans, with Tesla “wrapping up its activities … with energy storage”. He added: “From a consumer experience standpoint, everything will work together really well … It’s a single customer relationship that needs to be maintained, rather than multiple ones.” Related article The planned deal looks like a bailout between two Elon Musk companies that investors will vote down Tesla said it would issue 0.122-0.131 of a share for each share of SolarCity. Based on Tesla’s closing price on Tuesday, that was equivalent to $26.79-$28.77 a share. SolarCity’s shares had ended the day earlier at $21.19. Tesla did not immediately explain how the precise exchange ratio would be calculated. Companies generally use “collars” in all-stock deals to give shareholders in a selling company a degree of downside protection if the share of the buyer falls. Based on the 13 per cent after-house decline in Tesla’s shares, SolarCity shareholders would get stock worth a maximum of $25.10, equivalent to an 18 per cent premium. Source link

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Balfour Beatty tells PM: Borrow money and keep projects on track

The UK’s largest contractor said the government must take advantage of low interest rates and borrow more to fill the infrastructure investment black hole created by the UK’s vote to leave. The Infrastructure 2050 report stated that the falling interest rates made it the “ideal time” to borrow. It added this was “far from being an irresponsible course of action as some maintain”. Question marks have been raised over infrastructure investment post-Brexit, with uncertainty over short-term private and public funding. Balfour Beatty said the Brexit vote would see private investors postponing investment decisions until Britain’s relationship with the EU was renegotiated and said this would put major projects at risk.  Infrastructure like Crossrail 2 and the London Underground upgrades were also likely to be affected by the UK leaving the European Investment Bank, it said. The private sector is to provide 69 per cent (£260bn) of the UK’s planned infrastructure, while the EIB has invested more than £16bn in UK infrastructure projects over the last three years. According to the report, these financing gaps could not be covered by the Treasury alone and other income streams would need to be found. It said: “While a possible recession would mean lower tax receipts for the Treasury, the current low interest rates – predicted to sink even lower – mean that now is an ideal time for government to borrow money in order to finance projects.” Prime minister Theresa May last week pledged more infrastructure bonds available to major projects in a bid to boost infrastructure investment. The Infrastructure 2050 report found skills shortages were a key area in which the government needed to act quickly to ensure the UK’s biggest infrastructure projects could be built. The report urged the government to ensure those workers who had migrated to the UK were able to continue to work here. It said funds available for training the domestic workforce must be retained, despite the economic turbulence created by Brexit. Failure to do so, the report said, would increase construction costs and result in delays to projects such as Hinkley and HS2. The report also came up with a number of recommendations for the government and its various infrastructure operators to ensure that the UK delivers the infrastructure it needs by 2050. These included calls for ensuring future transport investments were robust for automated vehicles, new long-term plans for future rail and aviation projects and a long-term vision for energy policy to provide investors with greater certainty. (See box) Balfour Beatty recommendations include: Government action is needed to maintain economic stability, to provide a timeline for the UK’s exit from the EU and early answers to the many practical questions about doing business during and after Brexit New transport investments need to show that their business cases are robust to new automated technologies Remove existing barriers to young people entering training (i.e.) cost of university, attractiveness of old industries to new, unattractiveness of sector to women and ethnic minorities A far-reaching vision for the national rail network. Including plans for HS3, HS Scotland, HS Southwest, the reinstatement of the HS2 link and Heathrow spur, another Channel Tunnel, a new East Coast line, Crossrail 3 and 4. A full review of aviation capacity review looking at additional runway capacity at Birmingham and Stansted airports Clear long-term vision for energy policy needs to be developed and agreed to provide investors with certainty Government must continue to support the current 16GW nuclear new build programme plus small modular reactor development Government should update its nuclear decommissioning strategy post Brexit to seize opportunities for economic growth in the area Imperative to think about future flood impact when designing and installing new infrastructure Source link

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New air quality guide from BSRIA

New air quality guide from BSRIA Published:  24 August, 2016 BSRIA has announced the release of a new topic guide on the subject of indoor air quality (IAQ), which is available to download free from its website. The BSRIA Topic Guides are designed to be an at-a-glance publication introducing readers to key industry topics and suggesting further reading. The guide is aimed at those looking for introductory information about indoor air quality including definition, history and prevalence. There is also information on types of contaminants and their exposure limits, as well as providing readers with a useful site map. Commentary is provided by BSRIA’s asset performance team leader, Blanca Beato-Arribas, who said: “People spend approximately 80% of their time indoors. There is enough evidence that links poor air quality with permanent damages to health or even death. Therefore, we should be aware of the quality of the air that we breathe both at home and at work, and ensuring good indoor air quality at work should be a priority for employers.” TG12/2016 ‘At a Glance’ – Indoor Air Quality is now free to download from the BSRIA website for members and non-members alike at www.bsria.co.uk/information-membership/information-centre/bsria-topic-guides/ Source link

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Grade A office space at Pathfinder House comes to market in Huntingdon

On behalf of Huntingdonshire District Council, Savills has been instructed to market office space at Pathfinder House on St Mary’s Street in Huntingdon. The available suite comprises 3,983 sq ft (370 sq m) of Grade A office accommodation on the third floor of the property with Huntingdonshire District Council occupying the rest of the building. The space is being offered at an all-inclusive quoting rent of £111,000 per annum and benefits from shared use of restaurant, cafe and conference / meeting room facilities.  Edward Gee, associate in the business space team at Savills Peterborough, comments: “Situated in Huntingdon town centre, Pathfinder House provides premium office space in a good location with strong transport links. Due to the property’s excellent credentials we expect to receive a good level of interest from a range of potential occupiers.” Source link

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Chester Company Prodo Housing Wins an Award

A marketing company faction known as Prodo Housing with a location in Cheshire has recently been awarded for its efforts of designing a special online app at the Housing Innovation Awards this year. It is a sign that the building and construction industries dealing with the development of housing all across the United Kingdom can be pleased that they are paving the way not just physically but also in the digital age. The enterprise was rewarded for their efforts by being given the trophy for the Most Innovative Housing App and the award was for Orbit Move. This unique house acquisition app enables potential buyers to quickly and simply sort out the administration necessities that usually cost more time and money if done on paper, but is made much easier in no more than five simple online stages. The app itself was designed in collaboration with an app-building company known as Orbit, who specialize in creating online apps in the housing industry and have  a client base of more than 100,000 people dotted all over the different expanses of the country. The judging panel was clearly in awe of the new online tool, which will help to facilitate the home and property acquisition processes that are usually such a headache and a drag for customers all over the country. Whilst the English reportedly like queues, all they will need now to acquire property that they can afford will be having access to that special app, and time and money will be saved in the long run thanks to the combined inventive efforts of Orbit and Prodo Housing. Paul Billington the MD of Prodo was delighted that the app was such a success at the event and was pleased to see his company’s efforts being recognized and rewarded in such a lavish and congratulatory way. It is a sign that the building, construction and property industries can go forward with the digital revolution after all.

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BCA Opens a New Center in Manchester

The Belle Vue area in the bustling city of Manchester is experiencing an exciting building and construction initiative that will help it to ensure that work is complete on time for an all new LCV remarketing site. The building work itself is well under way and targeted to be completed and ready for the site to roll by Q3 2017. An ambitious venture indeed for the city as a whole, the site will be a total of 6.5 acres large and is situated right next to a 32 acre auctioning outlet. Representing the first time that BCA have ever built a remarketing facility for light commercial vehicles, this represents a very significant step in the business’ progression on the market and will mean that it stands taller than ever alongside other transport and logistics competitors. Indeed, it has been reported that once up and running the brand new facility will be capable of showcasing under the cover a grand maximum total of 400 vehicles. Similarly, in the company’s emphasis on building more and more areas of technological capability, full “Online Support” will equally be provided once the site is fully up and running. The year 2016 was, despite the financial fluctuations and the economic uncertainty that many businesses have experienced and still are experiencing, a very lucrative one for the transport industry, particularly in the LCV sector. This is clearly something which BCA plans to capitalize and invest upon and its decision to build in Manchester represents its commitment to generating good transport and logistics services to companies and enterprises in a variety of different enterprises and industries, particularly in the Northern regions of the country. Indeed, Duncan Ward of BCA emphasizes that the Belle Vue area will be ideal not only for the future of the company but also for the future of the plans to make the idea of the “Northern Powerhouse” a reality come true.

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Arco Very Pleased to Declare a New Contractual Partnership With Wates Group

Arco, a company which specializes in the procurement of health and safety services to different companies all around the United Kingdom, is very pleased to declare that it has secured itself a vital new contractual partnership with one of the leading giants in property building and construction: the Wates Group. Currently one of the greatest UK-based family-run enterprises operating within the building and construction industry of property development, it is hoped that this three year contractual agreement will be mutually beneficial to both leading enterprises. Essentially, what the health and safety company Arco will provide to the Wates Group is PPE over the course of the next three years. With more than 4,000 employees at the ready, the owners of the Wates Group are extremely concerned with the safety of their workers on whatever sites that they are working on in the country and it is hoped that Arco are the perfect match in terms of being able to supply their workforce with the appropriate and necessary protective equipment that the workforce will need in order to carry out the various tasks that it will need to carry out for its 10,000-plus base of investors and partners. With this contractual agreement valued at no less than £2 million a year, it is widely hoped that the partnership will be a success and will ensure the future safeguard and wellbeing of every Wates Group employee. As John Dunne of Wates Group explains, the company’s commitment towards achieving a “Zero Harm” accreditation by the end of the next three years through the combined services and health safety supplies of Arco means that they have high hopes that the company and its workers will be able to blossom and work safely with the implementation of PPE supplied by the ever-reliable Arco services. Placing great emphasis on the safety and wellbeing of their workforce, it is hoped that the contract will ensure that they are safer and happier than ever before working for the Wates Group.

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Is “Bob the Builder” an Accurate Depiction of Safe Building in This Country?

The rise of health and safety standards in the workplace means that it is more important than ever for companies to consider the various methods of PPE that they can procure for their workers. To use an example of a popular media source, the friendship between Bob the Builder and his truck friends Scoop, Muck, Dizzy et al indicates a harmony between man and machine that building and construction companies would be well advised to follow as an example in the future years to come. Not enough building and construction firms or private contractors in this company set themselves the appropriate accreditation of health and safety standards that ought to be met on every worksite in this country. Whilst there are many companies in the industry, as has been mentioned in previous articles of this kind, that are dedicated to supplying decent and protective PPE to their employees and are concerned with achieving targets of “Zero Harm” and reduced damage costs, it is evident that more firm managers and site supervisors need to follow the example set by the children’s television series in order to ensure that the safety of their onsite workers are not put into jeopardy as they so often are. Whilst it might seem easy for a grown man to sneer at a show like Bob the Builder with the serpentine hiss of the cynical adult, it is evident that more construction firms need to go back to basics and put the safety and wellbeing of their workforce first before anything else. Indeed, history has shown all too well the ignorance and lack of commitment to health and safety in the workplace. The steep rise in fines reported by the Institution of Occupational Safety and Health (IOSH) this year is something which all enterprises in the building and construction industry need to be aware of. Watching Bob the Builder might not be a cure, but it might be one way of arousing the respect and compassion that all members of the construction workforce deserve but which so many (as the IOSH demonstrates) do not get.

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Bond Dickinson LLP Lends Expert Guidance to Polyframe Group Limited

Window as well as door manufacturing outlet Polyframe Group Limited took the right decision to seek the advice of a law advisory enterprise called Bond Dickinson LLP in order to see what the building and construction enterprise could do to increase its turnout and annual revenue in the years to come. Indeed, representing the manufacturing business and its main investing mogul Cairngorm Capital, the experts of the rule of law at Bond Dickinson were able to secure a number of lucrative contractual deals that will mean that the company will significantly prosper as the years go on. By conducting its trade deals under a new name known as Customade, the manufacturing company has been blessed with acquiring the opportunity to gain annual revenues that will pass the £100 million mark as well as a greater amount of employees at their ready and more produce to sell to its expanding client base. Thanks to Bond Dickinson’s services, Cairngorm Capital and Polyframe will benefit from the company receiving a major influx of new staff that will total 900 new employment opportunities as well as greater opportunities for the company to increase its variety of windows and doors to an enthusiastic public demand. Having advised them over the last year, it is clear that Bond Dickinson are able and very capable as a law firm in securing major new deals for companies in construction, building or other manufacturing industries to ensure that they grow and expand in the ways that they want to. Indeed, John Naylor-Leland at Cairngorm Capital emphasized that the hard work and lucidity of Simon Pilling and his team at Bond Dickinson helped them immensely over the course of the last few months and is pleased that they as a law firm understood all the pitfalls and angles of securing deals and investment opportunities in the building and construction industry as a whole.

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CIOB and Stronger Together Join Forces to Battle Modern Slavery

A new toolkit has been compiled and set up by two leading organizations in order to address and amend the issue of modern slavery in the United Kingdom and the rest of the world. The Chartered Institute of Building (also known as the CIOB) has worked incredibly hard over time with Stronger Together in order to bring businesses in the building and construction industry to the attention of figuring out new ways to solve this very real problem in the 21st Century. With an approximate amount of 45 million people (and many more that have slipped under the radar of human rights organizations or are simply too well hidden by evil individuals in power) guessed to be currently subjected to modern slavery all over the globe, there is no doubt that companies and enterprises in the building and construction industry will want to read the report and find out the different things that they can do in order to tackle this problem that in a supposedly progressive liberal society is a shock to the system and an indication of our failure to tackle this barbaric issue. What this new kit will provide to building and construction firms that seek it out is UN Guiding Principles on Business and Human Rights that has been approved by the United Nations themselves. It is adamantly clear that the issues of human rights are very much alive today and it is the responsibility of businesses with a revenue of over £36 million to explain to the government what they are doing to address issues of human rights in the workplace, according to the 2015 UK Modern Slavery Act. The report itself was instigated based on the findings of an earlier report commissioned by CIOB known as “Building a fairer system.” This report found shocking amounts of evidence that showed the many aspects of modern slavery to which workers around the United Kingdom were being subjected.

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