SCO price lower for August
Dominion Energy Ohio’s monthly natural gas price for residential customers who are on the Standard Choice Offer (SCO) is going down for August.
Effective August 14, the SCO will be $2.89 per thousand cubic feet (mcf). That’s 18 cents or 5.8 percent lower than the July rate of $3.07/mcf. It is also 7 cents or 2.3 percent lower than the price of $2.97/mcf last August.
The average residential customer’s bill for the month of August will be 35.13, up 39 cents or 1.1 percent, from $34.74 last August.
All customers pay a fixed $28.14 for the basic monthly charge. Customers also pay a usage-based charge to transport the gas to the home, and gross-receipts tax. That charge is going down 1 cent to 32 cents/mcf.
Deliveries boost Wendy’s
Wendy’s partnerships with delivery services DoorDash and SkipTheDishes are sprinting out of the gate.
The Dublin-based burger chain has rolled out delivery service to 40 percent of its North American restaurants so far this year, outpacing expectations, according to CEO Todd Penegor during an call with analysts Wednesday regarding the company’s second-quarter financials.
He added that customers love delivery — satisfaction scores are higher than in-store purchases — and franchisees are clamoring to add it to their stores.
“The consumer has an appetite for convenience,” Penegor said.
— The Columbus Dispatch
GateHouse Media Ohio
Former CEO sentenced
The top executive of a one-time leading manufacturer of boots for the U.S. military has been sentenced in a “Made in USA” scheme.
A statement from U.S. Attorney J. Douglas Overbey says 66-year-old Vincent Lee Ferguson of Knoxville, Tenn., was sentenced Monday to 41 months in federal prison for his role in a wire fraud conspiracy.
The statement says Overbey was president and CEO of Wellco Enterprises Inc., which sold boots to the military that were falsely advertised as being made in the U.S.
Prosecutors say Ferguson conspired with his executive team to import boots made in China. Authorities say they concealed the fraud at first by requiring the Chinese manufacturing facility to include “USA” labels and later by having factory workers tear out “Made in China” labels.
Tesla board mulls Musk plan
Board members at Tesla are evaluating CEO and Chairman Elon Musk’s $72 billion proposal to take the electric car maker while government regulators look into whether the announcement of the potential deal meet legal requirements.
Six of Tesla’s nine members said in a prepared statement Wednesday that Musk began talking with the board about the move last week. This included discussing how being a private company could better serve Tesla’s long-term interests.
Musk announced the move Tuesday on Twitter, writing that he had secured funding to buy Tesla Inc.’s shares at $420 each.
NYC moves to limit Uber, Lyft
New York City is reining in the growth of Uber, Lyft and other app-based ride services with a temporary cap on new cars picking up fares.
The city council approved a package of bills Wednesday that included a one-year moratorium on new licenses for for-hire vehicles while the city studies the rapidly changing industry. It also voted to set a minimum driver wage equivalent to the yellow cab wage for app-based drivers.
Backers of the proposals said both the traditional yellow cab industry and drivers for app-based services are suffering as Uber cars flood the city’s streets. They said the growth of ride-hailing apps has also worsened traffic congestion.
But opponents said Uber and Lyft provide needed service to neighborhoods outside Manhattan that are poorly served by yellow cabs.
Compiled from staff and wire reports.
Business news briefs, Aug. 9: Standard Choice Offer price decreases for August