Business news briefs
Dugout mine gets
award for safety
The Dugout Canyon coal mine in Carbon County has won a National Mining Association "Sentinels of Safety" award for having one of the nation's top records in 2011. The mine, operated by Arch Coal subsidiary Canyon Fuel, recorded almost 450,000 hours of work time without a lost-time incident. It has not had a reportable safety incident since May 2010.
Cameron to build
Utah's Cameron Construction has been awarded a contract to construct three Maverik Country Stores. The first will be built in Delta, Colo., and the other two in Minden and Sparks, Nev. The company recently completed two Maverik locations in Utah one in Pleasant Grove and the other in West Valley City.
The number of Americans seeking unemployment aid fell last week to seasonally adjusted 339,000, the lowest level in more than four years. Unemployment benefit applications are a proxy for layoffs. When they consistently drop below 375,000, it suggests hiring is strong enough to lower the unemployment rate.
up in August
The U.S. trade deficit widened in August from July as exports fell to the lowest level in six months. The deficit grew 4.1 percent, to $44.2 billion, the biggest gap since May, the Commerce Department said. A wider trade deficit acts as a drag on growth. It typically means the U.S. is earning less on overseas sales of American-produced goods, while spending more on imports.
Alaska Air makes
big Boeing buy
Alaska Airlines plans to buy 50 new Boeing 737s in a deal worth $5 billion that will increase its fleet by nearly half. It is the largest-ever order for Alaska Air and includes 37 of Boeing's redesigned 737, which it calls the Max. Alaska Air operates a fleet of 120 737s.
Icahn makes bid
bid for Oshkosh
Billionaire investor Carl Icahn is making an unsolicited bid for truckmaker Oshkosh Corp. that values the company at almost $3 billion. Icahn says he also plans to nominate his own slate of directors in a bid for control of the company.
gets new life
After a string of disappointing debuts, the IPO market is showing signs of life. Shares of four newly public companies each shot up more than 20 percent Thursday on their first trading day. The companies were Realogy, owner of Century 21; Shutterstock, an online photo provider; Kythera, a developer of shots to treat double chins; and Intercept Pharmaceuticals, a developer of drugs for liver diseases.