Business Briefs: PG&E pleads not guilty in deadly pipeline blast
SAN FRANCISCO – Pacific Gas & Electric Co. pleaded not guilty Monday to a dozen felony charges stemming from alleged safety violations in a deadly 2010 natural gas pipeline explosion that leveled a suburban neighborhood in the San Francisco Bay Area.
U.S. Magistrate Judge Joseph Spero noted prosecutors’ request to increase the maximum fine PG&E could face to more than $6 million, if the court decides the company somehow benefited financially or saved money as a result of criminal misconduct.
San Bruno city officials hailed the development as a positive step and said they believed company officials should be charged as well.
PG&E said in a statement the company is holding itself accountable and does not believe any employee intentionally violated federal regulations.
NASHVILLE, Tenn. – The United Auto Workers dropped its appeal of a worker vote against unionizing at a Volkswagen plant in Tennessee, a move that the union said should put pressure on Republican politicians to quickly approve incentives the German automaker is seeking to expand its lone U.S. assembly plant.
The prolonged fight over labor issues at the Chattanooga facility appeared headed for a lengthy National Labor Relations Board appeal until the UAW announced an hour before a scheduled hearing that it was ending its challenge.
Some Republican lawmakers had blamed the appeal for holding up expansion plans at the plant.
USDA announces rural investment program
DES MOINES, Iowa – The U.S. Department of Agriculture announced Monday a new $150 million program designed to provide investment capital to help small agriculture-related business in rural areas with cash needed to expand.
Secretary of Agriculture Tom Vilsack announced in Cedar Rapids the formation of the first Rural Business Investment Company, a for-profit firm licensed by the USDA to invest in businesses that otherwise might not have the capital to increase business opportunities.
Higher costs pressured businesses in 1st quarter
NEW YORK – Rising costs for materials and labor appear to be pressuring businesses, according to a quarterly survey from the National Association for Business Economics.
During the first quarter of the year, 31 percent of businesses surveyed reported higher material costs, more than double the 15 percent that saw costs rise in the previous survey. Additionally, 35 percent reported rising wages and salaries at their businesses in the past three months, up from 23 percent in January.
Yet those who said they raised the prices they charge in the past three months remained unchanged at 20 percent, according to the latest NABE survey of 72 members, which was conducted between March 18 and April 1.