Ohio sees worker shortage
Ohio is experiencing a more-severe construction-worker shortage than the nation as a whole, according to a survey released Monday by the Associated General Contractors of America.
In a news conference in Columbus, the group’s national spokesman, Brian Turmail, said 73 percent of Ohio construction firms report having trouble finding qualified workers, compared with 70 percent of construction firms nationally, the Columbus Dispatch reported.
In the near term, Turmail said, a continued lack of qualified workers could mean fewer firms are able to bid on construction projects. That could delay projects or drive up costs.
Longer-term, Turmail said the worker shortage could create a drag on the economy, because projects wouldn’t be generating and supporting jobs that eventually result in consumer spending.
Gilead to buy Kite Pharma
Gilead Sciences will pay $11.9 billion in cash to buy Kite Pharma and plant a stake in an emerging area of cancer treatments that train a patient’s immune cells to attack tumors.
Kite’s portfolio of potential treatments includes one for the blood cancer lymphoma that could receive U.S. regulatory approval later this year.
The Santa Monica, Calif.-based company specializes in developing treatments that are custom-made to target a patient’s cancer. Called CAR-T, this type of therapy involves removing immune cells from a patients’ blood, reprogramming them to create an army of cells that can zero in on and destroy cancer cells and injecting them back into the patient.
Chinese invest in Tahoe site
A ski resort at Lake Tahoe has announced a new partnership with one of the largest outdoor retailers in China to help attract more Chinese skiers and snowboarders to the region.
The agreement between Squaw Valley Alpine Meadows and Toread builds on the Sierra resort’s existing alliance with China’s Genting Resort Secret Garden.
Squaw Valley Alpine Meadows President and CEO Andy Wirth told the Sierra Sun that Toread is a leader in virtually every area of outdoor recreation in China. He says the cross-promotional deal will allow the Tahoe resort to better tap into the fast-growing Asian market.
The China Ski Association says the number of skiers in the country has increased from 200,000 in 2000 to 12.5 million in 2015.
Calif. may boost incentives
California would spend up to $3 billion under a bill to widely expand its fledgling consumer rebate program for zero-emission vehicles.
The state has already spent nearly $450 million in subsidies, but the Los Angeles Times reported that so far, the rebates haven’t boosted sales much. In 2016, of the just over 2 million cars sold in the state, only 75,000 were pure-electric and plug-in hybrid cars. To date, out of 26 million cars and light trucks registered in California, just 315,000 are electric or plug-in hybrids.
Now the Legislature is pushing forward a bill that would lift rebates from $2,500 to $10,000 or more for a compact electric car. That could, for example, make a Chevrolet Bolt EV electric car cost the same as a gasoline-driven Honda Civic.
Peter Pan dumps Greyhound
Massachusetts-based Peter Pan Bus Lines has announced it’s ending its partnership with Greyhound.
The Springfield company says on its website that ending the partnership on Sept. 27 will enable it to allow paperless boarding at every route, offer more express service throughout the Northeast and provide more on-time service.
Peter Pan operates in Massachusetts, Connecticut, Rhode Island, New York, Maryland, New Hampshire, New Jersey, Pennsylvania, Delaware and Washington.
The two companies had coordinated ticket sales, routes and schedules since 1998. They will operate independently. Tickets from either company will have to be bought separately.
Compiled from staff and wire reports.
Business news briefs, Aug. 29: Gilead to pay $11.9 billion for cancer treatment developer Kite