Briefcase

Avista proposes extension of sawmill energy contract

Avista Utilities wants to extend a contract to buy power from a Plummer, Idaho, sawmill.

Stimson Lumber generates up to 6.5 megawatts of energy from wood waste. Federal law requires utilities to buy power from small producers at rates published by state utilities commissions, or prices negotiated between the utility and the small producer.

The rates are based on “avoided costs,” or the cost the utility avoids by not having to generate the power itself or buy it from another source.

Under the proposed agreement, Avista would buy Stimson’s power at prices ranging from $52.12 to $67.26 per megawatt over the five-year agreement, depending on electric load demand.

The Idaho Public Utilities Commission is reviewing the proposed agreement. Public comments will be accepted through Dec. 30. For more information, visit www.puc.idaho.gov.

Becky Kramer

Stanford declared competent

HOUSTON – A judge says jailed Texas financier R. Allen Stanford is mentally competent to stand trial.

U.S. District Judge David Hittner announced his ruling Thursday after a nearly three-day competency hearing in Houston federal court for the disgraced financier.

Stanford is accused of bilking investors out of $7 billion in a massive Ponzi scheme. His trial is set for Jan. 23.

Stanford had been declared incompetent in January due to an anti-anxiety drug addiction he developed while jailed in Houston and was treated for eight months at a federal prison hospital in North Carolina.

Prison hospital officials said Stanford is competent for trial. However, medical experts who testified for Stanford said a brain injury the financier suffered in a jail fight has left him unable to aid his own defense.

Associated Press

Judge allows plane purchases

NEW YORK – A bankruptcy judge said Thursday that the parent of American Airlines can go ahead with its previously scheduled deliveries of Boeing aircraft next year.

U.S. Bankruptcy Judge Sean Lane ruled that AMR Corp. can continue the process of purchasing 32 Boeing planes. The ruling allows the company to continue renewing its fleet following its filing for Chapter 11 bankruptcy protection on Nov. 29.

AMR has stressed the importance of the aircraft purchases, saying they will improve American’s competitiveness and help lower its massive fuel bill as it replaces older gas guzzlers. American has the second-oldest fleet among major airlines behind Continental, according to aviation consulting firm Ascend. Its planes are 15 years old, on average.

American also won court approval for getting out of leases for two dozen aging aircraft. None of the planes are in service. AMR said it no longer makes financial sense to keep them.

Associated Press

Company recalls Motrin pills

TRENTON, N.J. – Health care giant Johnson & Johnson has issued another recall of Motrin pain relievers, at least the sixth in two years.

It’s part of a string of more than two dozen recalls of consumer health products, prescription drugs and medical devices over 2 1/2 years.

This time, it’s because Motrin IB pills may not dissolve and begin working as soon as intended as they approach their three-year expiration date. That could delay relief of pain.

The recall covers Motrin IB coated caplets and coated tablets, in packages with either 24 pills or 30 pills.

A company spokeswoman said Thursday that there’s no safety concern.

Associated Press