June17,2014
Jan- May Temps 5 Degrees Higher Than Average
This year‘s drought is being made worse by record high temps reports NOAA. Temps in the Golden State were 5 degrees higher than average, a record. In Central Calif. NWS Hanford reports that May averages in Fresno were 4.2 degrees above normal.This week a huge wildfire in Kern County’s Sierra is making national news.
Local Biz Index Higher
The San Joaquin Valley Business Conditions Index rose above the growth neutral threshold for the 17th time in the past 18 months. The May index increased to 57.4 from 55.9, indicating an expansionary economy over the course of the next three to six months. The index, produced by Fresno State’s Craig School of Business, is the leading economic indicator from a survey of individuals making company purchasing decisions in the counties of Fresno, Madera, Kings and Tulare.
Sequoia Visitation Up 14.3 Percent
NPS report that sequoia National park has seen a 14.3% increase in recreational visitors this year through May. Ovenight stays in Wuksachai have more than doubled compared to last year. Over in Kings Canyon visitation has declined 19% although an entrance gate was added later that year that made counting more accurate than before. If the trend is true it means more visitors coming to the twin parks up 198 through Three River than up 180.
Peter Carey Goes To Washington
NeighborWorks America announced this month that it named Peter N. Carey, acting Chief Operating Officer (COO), and Thomas Bloom acting Chief Financial Officer. Both will report to Chuck Wehrwein, acting Chief Executive Officer. Carey, who is retiring June 30 after nearly 25 years as the CEO of Self-Help Housing, Visalia, CA, will join NeighborWorks America on July 18 in Washington. Self Help is a nonprofit organization and member of the NeighborWorks network that has developed more than 7,000 single- and multi-family homes since its start in 1975. As acting COO, Carey will oversee the organization.
Nordstrom Rack To Open In Bakersfield, Calif.
Seattle-based Nordstrom, Inc. (NYSE: JWN) announced plans in April to open a Nordstrom Rack at The Shops at River Walk in Bakersfield, Calif. The approximately 35,000-square-foot store is scheduled to open in spring 2015. The property is being developed by Castle & Cooke, Inc.The chain is considered a contender to come to Visalia some day.
NRG Yield buys world’s biggest wind farm cluster
Yield has agreed to buy the world’s largest cluster of wind farms, the 947MW Alta Wind project in California, from Terra-Gen Power.The wind farm is located in Tehachapi Pass of the Tehachapi Mountains, in Kern County
The project features GE and Vestas turbines The renewable energy investor is set to pay $870 million for the project, plus the assumption of $1.6 billion of non-recourse financings. The deal is expected to be closed in the third quarter.
NRG said that it intends to fund the purchase through a combination of new debt, equity and cash. The company expects that the project will add to its earnings before interest, taxes, depreciation, and amortisation to the sum of around $220 million a year by 2016.Alta Wind was constructed on the site of some of the world’s first large-scale wind farms. It is made up of GE and Vestas turbines across a number of different phases brought online over the last four years.