Stock Markets

Girl Power on the Assembly Line

Published

6 months ago

April 5, 2024

NORTHAMPTON, MA / ACCESSWIRE / April 4, 2024 / In 1813, a businessman named Francis Cabot (NYSE:) Lowell formed the Boston Manufacturing Company and built a textile mill next to the Charles River. By 1840, the Industrial Revolution was in full swing, and Lowell’s mills employed almost 8,000 workers, with women making up nearly three-quarters of the workforce.

The “Lowell Mill Girls,” as they came to be called, were daughters of New England and Canadian farmers, typically between the ages of 15 and 35. Working in mills gave these women their first opportunity in America for independence and a bit of financial freedom. Over time, adult women in manufacturing displaced child labor, and women led the American labor movement for safer work environments and restricted labor hours.

Women in mills today can achieve the highest levels of education and leadership thanks to the Lowell Mill Girls who laid the groundwork centuries ago.

Empowering Women in STEM

Bri Butchart, finished product business unit manager at the Bogalusa Mill, went into manufacturing because it met all three of her requirements for her career: to not be trapped at a desk, to work directly with people and to see the impact of her work in real time. She’s far from the only one.

Under the Thriving People and Communities Vision 2030 goal, IP aims to have 30% overall representation of women in all positions and 50% of women in salaried positions. In Bogalusa, 50 percent of the mill’s lead team are women, serving in positions that include operations, engineering and EHS. As the Bogalusa mill demonstrates, increasing women representation is possible.

But being a woman in manufacturing leadership isn’t completely without its challenges, even in the 21st century. Bri says for one thing, many men have an instinct to be gentlemanly, to volunteer to do tasks for women.

“When I was younger, men were very protective of me, and I appreciated that they saw me as one of their daughters. But papermaking requires experiential learning, and it was important to me that I learn how to complete a task myself,” said Bri, who holds a chemical engineering degree from Rose-Hulman Institute of Technology.

Lee Dillon, engineering manager at Bogalusa, faced challenges managing contractors in her career.

Fear will try to keep you from doing things. It’s when you push yourself past the fear that you improve.

“People often assumed I wasn’t qualified because they’d never seen a woman in that position,” she said. “I overcame that by proving myself. I’ve always wanted to be the best at everything I did – sports, school, my career. That takes dedicated work and I’m willing to make that effort in order to be successful.”

In her role at Bogalusa, Lee has managed some highly complex, multi-million-dollar projects like installing new drives on the #8 Paper Machine and a DCS system in the pulp mill.

Lee, who holds a mechanical engineering degree from Mississippi State University, says she is most proud of these accomplishments because complex electrical projects tend to be outside her comfort zone. “Fear will try to keep you from doing things. It’s when you push yourself past the fear that you improve,” she said.

The Impact of Excellence

At IP, we believe that more effective solutions can be found when people with diverse backgrounds and experiences bring different perspectives to the table. And diversity in leadership helps improve diversity in our workforce.

“People like to see themselves represented on our leadership teams,” said Bri.

It’s one reason she has actively worked to bring mill participation to the Women in IP (WIP) Employee Networking Circle. “I made a commitment to provide space for women to participate in the WIP ENC, so they’ll know there’s a network of people who support them whenever they need it.”

All seven of the women on our mill lead team are also mothers. We represent that women can have both a career and a family. We don’t have to limit ourselves. We don’t have to choose.

Lee added that the women in leadership are role models to the younger women who are beginning their careers. “All seven of the women on our mill lead team are also mothers,” she pointed out. “We represent that women can have both a career and a family. We don’t have to limit ourselves. We don’t have to choose.”

About International Paper

International Paper (NYSE:IP) is a global producer of sustainable packaging, pulp and other fiber-based products, and one of the world’s largest recyclers. Headquartered in Memphis, Tenn., we employ approximately 39,000 colleagues globally who are committed to creating what’s next. We serve customers worldwide, with manufacturing operations in North America, Latin America, North Africa and Europe. Net sales for 2023 were $18.9 billion. Additional information can be found by visiting internationalpaper.com/.

About International Paper – EMEA

In Europe, Middle East & Africa (EMEA), International Paper focuses on the production and marketing of fiber-based packaging and specialty pulp, employing approximately 4,400 people. As a leading supplier of high-quality corrugated containers for a multitude of applications, we serve customers throughout the region from our network of two recycled containerboard mills and 23 box plants in France, Italy, Morocco, Portugal and Spain. Specialty pulp is made in Gdansk, Poland. Other products available from International Paper in the region include a variety of Kraft linerboard and other pulp products.

View additional multimedia and more ESG storytelling from International Paper Company (NYSE:) on 3blmedia.com.

Contact Info:
Spokesperson: International Paper Company
Website: https://www.3blmedia.com/profiles/international-paper-company
Email: info@3blmedia.com

SOURCE: International Paper Company

View the original press release on accesswire.com

Stock Markets

Consumers Energy Expanding Community Solar Program with 30-Acre Solar Project in Jackson County

Published

4 hours ago

September 20, 2024

JACKSON, Mich., Sept. 19, 2024 /PRNewswire/ — Consumers Energy plans to break ground next spring on Blackman Solar, a new 30-acre community solar array in its home Jackson County that will provide local clean energy to customers through its Solar Gardens program.

Consumers Energy this week received approval from Blackman Township for the community solar project, which is slated to start generating electricity by the end of 2025.

“Blackman Solar is a great example of a partnership with a community to develop a project that delivers reliable, clean energy as well as local tax and economic benefits,” said David Hicks. Consumers Energy’s vice president of renewable energy development. “We’re grateful for the reception we’ve received from Blackman Township leaders and are excited to continue developing solar projects like this on our path to a carbon-neutral electric grid.”

Blackman Solar will generate power for Consumers Energy’s Solar Gardens community solar program, in which customers choose to support new solar projects without having to own solar arrays.

The new community solar facility will be the fourth that Consumers Energy owns and operates, joining other Solar Gardens projects in Cadillac, at Western Michigan University and at Grand Valley State University. Blackman Solar will include nearly 5,000 solar panels and will generate up to 2.5 megawatts of renewable electricity for 2,500 future Solar Gardens customers.

Blackman Solar also will provide new capacity to expand Consumers Energy’s income-qualified Solar Gardens program MI Sunrise. MI Sunrise is an efficient, easy, cost-effective way for municipalities, nonprofits and tribal governments to deploy federal grant dollars, providing access to clean, reliable renewable energy and measurable financial benefits to offset energy bills.

“Blackman Solar will help meet increased demand for community solar and offers shared solar infrastructure, accessibility and inclusivity, as well as financial and environmental benefits for all customers,” Hicks said.

Consumers Energy is committed to Michigan’s clean energy future. The energy provider is closing its final three coal-burning units next summer, one of the nation’s most aggressive timetables. The company is developing solar projects as part of its Clean Energy Plan to be carbon-neutral by 2040.

Consumers Energy is Michigan’s largest energy provider, providing and/or electricity to 6.8 million of the state’s 10 million residents in all 68 Lower Peninsula counties. Consumers Energy’s Clean Energy Plan calls for eliminating coal as an energy source in 2025, achieving net-zero carbon emissions and meeting 90% of customers’ energy needs through clean sources, including wind and solar.

For more information about Consumers Energy, go to ConsumersEnergy.com.

Check out Consumers Energy on Social Media

Facebook (NASDAQ:): https://www.facebook.com/consumersenergymichigan
Twitter: https://twitter.com/consumersenergy
LinkedIn: https://linkedin.com/company/consumersenergy
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Stock Markets

First Horizon Is Now the Official Bank of the Ragin’ Cajuns

Published

4 hours ago

September 20, 2024

MEMPHIS, Tenn., Sept. 19, 2024 /PRNewswire/ — First Horizon (NYSE:) Corp. (NYSE: FHN or “First Horizon“) is proud to announce that First Horizon Bank is now the Official Bank of the University of Louisiana at Lafayette Ragin’ Cajuns.

This five-year agreement expands First Horizon’s long-term commitment to the University and includes a Ragin’ Cajun Visa (NYSE:) Debit card, prominent in-venue signage, entertainment and hospitality opportunities along with participation in game day fan activations and experiences, including the new Cajun Village.

“This is an exciting time to expand our partnership with ULL and ULL athletics,” said Jerry Prejean, President of Acadiana for First Horizon. “With more than $2.5 million invested in recent years towards academic and athletic excellence, First Horizon is proud to deepen our relationship with the University and work together as two long-standing community leaders dedicated to making Acadiana a great place to call home.”

“As opportunities have grown for businesses to support Ragin’ Cajuns athletics, First Horizon Bank has been right there growing with us every step of the way,” adds Brian Bille, General Manager of LEARFIELD-based Ragin’ Cajuns Sports Properties. “Jerry’s commitment to our community has never wavered, and I’m excited to help First Horizon build affinity with our fans through this enhanced partnership, and encourage our fans to add the all-new Ragin’ Cajuns branded debit card to their wallet.”

About First Horizon
First Horizon Corp. (NYSE: FHN), with $82.2 billion in assets as of June 30, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

Stock Markets

Oil prices rise on easing demand worries after jumbo Fed rate cut

Published

4 hours ago

September 20, 2024

Investing.com — Oil prices jumped Thursday, riding on a wave of risk-on sentiment as the Federal Reserve’s outsized interest rate cut on Wednesday eased worries that a slowing US economy would further dent crude demand.

At 2:06 p.m. ET (1906 GMT), rose 1.6% to $74.80 a barrel and rose 1.8% to $71.12 a barrel.

Jobless claims rise by less than expected

The number of Americans filing for first-time unemployment benefits rose by less than anticipated last week, with coming in at 219,000 in the week ended on Sept. 14, compared with an upwardly revised 231,000 in the prior week.

Economists had forecast a consensus figure of 230,000.

This figure was better than expected, and has allayed to a degree concerns over the health of the US economy, particularly after the Federal Reserve started its latest rate-cutting cycle on Wednesday, trimming interest rates for the first time since March 2020 by a hefty 50 basis points to a range of 4.75% to 5%.

While lower rates usually bode well for economic activity, the Fed’s aggressive cut sparked some concerns over a potential slowdown in economic growth.

While Fed Chair Jerome Powell helped soothe some of these concerns, he also said that the Fed had no intention of returning to an era of ultra-low interest rates, and that the central bank’s neutral rate was likely to be much higher than seen in the past.

His comments indicated that while interest rates will fall in the near-term, the Fed was likely to keep rates higher in the medium-to-long term.

US inventories fall, but product stockpiles up

Government data released on Wednesday showed a bigger-than-expected, 1.63 million barrel draw in .

While the draw was much bigger than expectations for a draw of 0.2 mb, it was also accompanied by builds in and inventories.

The builds in product inventories sparked increased concerns that U.S. fuel demand was cooling as the travel-heavy summer season wound to a close.

Looking ahead, some expect further draws in domestic crude stocks as exports reaccelerate.

“We look for a significant rebound in exports across crude and products this week. Among products, our preliminary expectations point to draws in gasoline (-1.5 MM BBL) and distillate (-3.7 MM BBL) with a build in jet (+0.5 MM BBL),” Macquarie said in a recent note.

Crude deficit could boost Brent

Still, prices could be bolstered in the near-term by demand possibly outstripping supply in the fourth quarter, according to analysts at Citi.

A reported decision by the Organization of the Petroleum Exporting Countries and its allies to delay the beginning of a tapering in voluntary output cuts, along with ongoing supply losses in Libya, is predicted to contribute to a oil market deficit of around 0.4 million barrels per day in the final three months of 2024, the Citi analysts said.

They added that such a trend could offer some temporary support to Brent “in the $70 to $75 per barrel range.”

Meanwhile, the benchmark could be further boosted by a potential rebound in recently tepid demand from top oil importer China, the analysts said.

But they flagged that they still anticipate “renewed price weakness” in 2025, with Brent on a path to $60 per barrel due to an impending surplus of one million barrels per day.

(Peter Nurse, Ambar Warrick contributed to this article.)