Boeing Co. (BA) delivered its first 777-300ER (Extended Range) airplane to GE Capital Aviation Services and its lease customer Philippine Airlines. It is the first 777 in the fleet of Philippine Airlines. The aircraft was packed with relief supplies for victims of Typhoon Ketsana.  The airline has four more of this aircraft on order with Boeing. In the recently reported third quarter of fiscal 2009, the company booked 96 gross orders. The company finished the quarter with segmental backlog of $254 billion.  The Boeing 777-300ER is among the most efficient airplanes in the 300-to-400 seat segment, which would provide the airlines the flexibility to serve key markets worldwide while offering its passengers the highest levels of comfort and reliability. Additionally, the aircraft brings new twin-engine efficiency to the airline's long-haul fleet.  The aircraft is powered by General Electric GE90-115BLs, the world's largest and most powerful commercial jet ...

China Architectural Engineering Inc. (CAEI) posted a net loss of 16 cents per share for the third quarter, compared to a net profit of 18 cents in the prior-year period. The net loss in the quarter can be attributed to lower contract revenue, adjustment to estimated gross revenue of the Dubai Metro project, and increase in raw material and overhead costs. Full loss provision of the project in Doha, and losses from the discontinued construction works in the closed Shenzhen office also contributed to the earnings disappointment in the quarter.   Quarterly revenues of $25.6 million were down 54% year over year primarily due to the Dubai Metro dispute. The company said that its dispute with the master contractor of the Metro Red Line Project in Dubai, led to an adjustment to estimated gross revenue of the project, and resulted in lower recognized revenue in the quarter from ...

The Boeing Company (BA) towed the first 747-8 Freighter model out of its factory in Everett. The long-awaited freighter is now being put up for test flights. The 747-8 Freighter is the new high-capacity 747 that will give cargo operators the lowest operating costs and best economics of any freighter airplane while providing enhanced environmental performance. It is 250 feet, 2 inches (76.3 m) long, which is 18 feet and 4 inches (5.6 m) longer than the 747-400 series Freighter. The stretch provides customers with 16% more revenue cargo volume compared to its predecessor. That translates to four additional main-deck pallets and three additional lower-hold pallets. Boeing to date has secured 105 orders for the 747-8 series aircrafts, 78 of which are orders for the freighter variant. The rest orders are for the passenger variant. The 747-8 Freighter series will boost the commercial aircraft segment of ...

Juhl Wind Inc., an established leader in community-based wind power development and management, specializing on wind farm projects throughout the United States and Canada, recently announced that the company has secured a 20-year, 19.8 MW power purchase agreement between Adams Wind Generations, LLC and Xcel Energy. Located in Meeker County in West Central Minnesota, the Adams Wind Generations project will utilize 12 large wind turbines at an estimated cost of approximately $46 million.

Juhl Wind Inc. has been assisting local owners with the project development since the spring of 2008 and also spearheaded the team to win a competitive request-for-proposal issued by Xcel Energy. Serving as the project’s developer and contractor, Juhl is forecasting that the Adams Wind Farm will commence initial operations in the fourth quarter of 2010.

Dan Juhl, CEO of Juhl Wind, Inc., stated, “The establishment of the Adams Wind Farm project continues to reinforce our belief

...

By Cees Bruggemans, Chief Economist FNB

It can be very unsettling when hitting an air sack, and only natural to assume things won’t quickly return to normal as trouble has a way of coming in multiples.

The South African building industry certainly has reason to be suspicious of any early suggestions of recovery, given the exuberant times that lasted for several years after which the plunging descent into deep recession last year was one of the most abrupt in decades.

Yet the deeper it falls, the more likely a bottom is reached, provided shock absorbers are fully extended.

The peaking of interest rates late last year, since then shedding 500 points, certainly provided important support for the building sector.

This evidence is also starting to shine through in opinion surveys. The FNB/BER building confidence index for 3Q2009 released last week offered a series of data points all suggesting a

...

Moody’s Investor Services (MCO) has downgraded Boeing Co.’s (BA) rating outlook to "negative" from "stable". The major reason for the downgrade was the delay in the airplane maker's new 787 series, besides other setbacks that had hurt its financial flexibility.   Pitted against Airbus’s A319 aircraft, Boeing’s 787 series is plagued by delays. The inaugural test flight at the end of fiscal 2009 is more than two years behind the original delivery schedule. The company has already deferred the inaugural delivery of the 787 series aircraft five times.   Boeing has witnessed falling orders in the recent times for its commercial planes on account of tepid demand for air travel and cargo services. Already, a slew of commercial airlines have cancelled or deferred their fleet additions. Boeing has cut costs and announced reduction in its workforce along with scaling back production of some aircrafts. Moody's estimates a 20%

...

Recently, Humana Military Healthcare Services, a wholly owned subsidiary of Humana Inc. (HUM), announced the availability of an additional benefit for the beneficiaries of the TRICARE program (a medical program under the Department of Defense) in the South Region.  Humana Military Healthcare Services offers health insurance coverage under the TRICARE program to the dependents of active duty military personnel and retired military personnel coupled with their dependents. Humana Military has been a contractor of the Department of Defense for the administration of the TRICARE program since Jul 1, 1996.  The new benefit provides the families of soldiers enrolled in the TRICARE program access to a Chronic Obstructive Pulmonary Disease (COPD) Management Program. They will be able to call a dedicated registered nurse and receive education and coaching on how to deal with this lung disease which blocks airflow thereby resulting in breathing difficulties.  Humana started ...

The Boeing Company (BA) yesterday announced that it will record a $1 billion charge in the third quarter of fiscal 2009. The company attributed the charge from a delay in producing a new version of the 747-8 series freighter jet, leading to slow sales and late design changes. The aircraft competes with Airbus' A380 series aircraft. The goliath of commercial aerospace, Boeing has witnessed falling orders for its commercial planes in the recent times on account of tepid demand for air travel and cargo services. Already, a slew of commercial airlines have cancelled or deferred their fleet additions. Boeing has cut costs, reduced workforce and scaled back production of some aircrafts to cope with the changing market dynamics.   The $1 billion charge includes $640 million for higher estimated production costs consisting of late engineering design changes. This is besides the $360 million stemming from Boeing's decision ...

China Architectural Engineering Inc. (CAEI) provided updates on its Nine Dragon and Dubai Metro System projects. The company said that the Nine Dragon Project successfully passed evaluation and assessment by China's national experts, paving the way for new, large projects to commence by the end of this year and the beginning of next year.  Management is confident that a number of large Nine Dragon projects will launch by the end of this year providing CAEI with substantial new revenue sources for the next several years. The company had entered into an agreement with Shanghai Nine Dragon Co. Ltd. In June 2009, to undertake major projects located in the Nine Dragon Resort, Zhejiang , including a seven-star hotel, a marine park and luxurious villas. The projects are expected to be completed within three years.  In addition, the company said that the first phase of the Dubai Metro ...

First Solar Inc. (Nasdaq: FSLR) - September 18, 2009 - today announced that it has been selected by Colorado-based developer and EPC contractor juwi solar Inc., a subsidiary of juwi Holding AG, to supply solar modules for two U.S. projects.