BIE is rated a success

first_imgExhibitors and visitors alike expressed satisfaction over the Baking Industry Exhibition (BIE), which took place at Birmingham NEC on 6-9 April. Many standholders have already signed for the next show, which will take place in two years’ time.As well as many ingredient and machinery stands, the student competitions, supported by California Raisins, attracted a daily audience, who watched competitors from colleges around the country vie with each other on a range of breads and cakes.The Live Bakery also attracted an enthusiastic audience who could watch the baked goods being made – and then eat them! l For more on BIE see pg 14-16.last_img read more

Umphrey’s McGee Welcomes Jason Bonham, Derek Trucks, Taylor Hicks For Led Zeppelin Classics At LOCKN’ [Video]

first_imgLoad remaining images On Friday night, the 2018 edition of LOCKN’ Festival continued to exceed fans’ lofty expectations with an evening of top-notch performances and exciting collaborations both planned and unexpected. One of the Friday LOCKN’ lineup’s defining moments came by way of hard-rocking jam favorites Umphrey’s McGee, who performed their third of three sets on the weekend as the sun set over the farm.With Jason Bonham, the son of legendary Led Zeppelin drummer John Bonham, billed as a special guest for the set, fans expected Umphrey’s to get the Led out for their Friday set. Rather than jump straight into Zeppelin territory, the band emerged with their regular lineup in tow, starting their final LOCKN’ set with business as usual. After opening with it’s not us track “Half Delayed”, the band kick-started “Plunger”, which made its way into “Walletsworth” before segueing back into “Plunger” and, finally, moving into another it’s not us single, “The Silent Type”.Live Umphrey’s staple “JaJunk” kept the crowd dancing from there, before Brendan Bayliss welcomed out his “new favorite person in the world, Jason Bonham!” (01:59:20 on webcast playback). To begin his extended sit-in, which would last for the remainder of the set, Bonham helped Umphrey’s McGee through “Conduit”, the longtime setlist stalwart which appeared on the band’s 2011 studio album, Death By Stereo.From there, the band began a run of Led Zeppelin classics with “Good Times, Bad Times”, drummer Kris Myers owning Robert Plant‘s vocal part as Bonham recreated his father’s famous drum line and Jake Cinninger nailed Jimmy Page‘s recognizable guitar solo with gusto. Cinninger stepped to the mic next, leading the band plus Bonham through Houses of the Holy track “Dancing Days”. Continuing through the Zeppelin songbook, the band brought out a surprise special guest, former American Idol winner Taylor Hicks, to add vocals and harmonica to “When The Levee Breaks” (02:15:10), marking Umphrey’s McGee’s first performance of the tune since 7/7/12 (608 shows). Next, Bayliss took the reins for a rendition of “The Song Remains The Same”.As the band teased “The Rain Song”, Brendan Bayliss announced their final special guest with a proclamation that never fails to excite, no matter where or when it turns up: “That’s Derek Trucks, everybody. Let’s have some fun” (2:28:50). With Bonham and Andy Farag manning percussion duties and Trucks going toe-to-toe with Cinninger on dual lead guitar, Myers stepped out from behind his drum kit to lead the band through Led Zeppelin II hit “Whole Lotta Love” (their first in 444 shows) to close the set.You can also watch selected clips of Umphrey’s McGee’s Friday evening set below:Umphrey’s McGee – “Half Delayed” [Pro-Shot][Video: Relix]Umphrey’s McGee w/ Jason Bonham – “Good Times, Bad Times”[Video: Gregory Marcus]Check out a handful of photos from Umphrey’s McGee’s set with Jason Bonham, Taylor Hicks, and more below courtesy of Dave Vann.You can stream all of the remaining sets at LOCKN’ this weekend here.Setlist: Umphrey’s McGee w/ Special Guests | LOCKN’ Festival | Arrington, VA | 8/24/18One Set: Half Delayed, Plunger > Walletsworth > Plunger > The Silent Type, JaJunk, Conduit[1], Good Times Bad Times[2], Dancing Days[1], When the Levee Breaks[3], The Song Remains the Same[1], Whole Lotta Love[4][1] with Jason Bonham on drums[2] debut, Led Zeppelin; with Jason Bonham on drums[3] with Jason Bonham on drums and Taylor Hicks on harmonica and vocals[4] with Jason Bonham on drums, Derek Trucks on guitar, and Kris on vocals (no drums)Notes:with Witchy Woman (The Eagles) tease before When the Levee Breakswith The Rain Song (Led Zeppelin) tease before Whole Lotta Lovelast When the Levee Breaks 7/7/12 (608 shows)last Whole Lotta Love 2/14/14 (444 shows)Umphrey’s McGee w/ Special Guests | LOCKN’ Festival | Arrington, VA | 8/24/18 | Photos: Dave Vannlast_img read more

In the genes, but which ones?

first_imgFor decades, scientists have understood that there is a genetic component to intelligence, but a new Harvard study has found both that most of the genes thought to be linked to the trait are probably not in fact related to it, and identifying intelligence’s specific genetic roots may still be a long way off.Led by David I. Laibson ’88, the Robert I. Goldman Professor of Economics, and Christopher F. Chabris ’88, Ph.D. ’99, assistant professor of psychology at Union College in Schenectady, N.Y., a team of researchers examined a dozen genes using large data sets that included both intelligence testing and genetic data. As reported in a forthcoming article in the journal Psychological Science, they found that in nearly every case, the hypothesized genetic pathway failed to replicate. In other words, intelligence could not be linked to the specific genes that were tested.“It is only in the past 10 or 15 years that we have had the technology for people to do studies that involved picking a particular genetic variant and investigating whether people who score higher on intelligence tests tend to have that genetic variant,” said Chabris. “In all of our tests we only found one gene that appeared to be associated with intelligence, and it was a very small effect. This does not mean intelligence does not have a genetic component, it means it’s a lot harder to find the particular genes, or the particular genetic variants, that influence the differences in intelligence.”Harvard Professor David I. Laibson (pictured) co-led a team of researchers who examined a dozen genes using large data sets that included both intelligence testing and genetic data. File photo by Jon Chase/Harvard Staff PhotographerTo get at the question of how genes influence intelligence, researchers first needed data, and plenty of it.Though it had long been understood, based on studies of twins, that intelligence was a heritable trait, it wasn’t until relatively recently that the technology emerged to allow scientists to directly probe DNA in a search for genes that affected intelligence.The problem, Chabris said, was that early technology for assaying genes was very expensive, meaning that such studies were typically limited to, at most, several hundred subjects, who would take IQ tests and provide DNA samples for testing.As part of their study, Chabris and his colleagues relied on several pre-existing data sets — a massive study of Wisconsin high school graduates that began in the 1950s, the Framingham Heart Study, and an ongoing survey of all twins born in Sweden — to expand that subject pool from a few hundred to many thousands.“What we want to emphasize is that we are not saying the people who did earlier research in this area were foolish or wrong,” Chabris said. “They were using the best technology they had available. At the time it was believed that individual genes would have a much larger effect  — they were expecting to find genes that might each account for several IQ points.”To identify genes that might play a role in intelligence, previous researchers used the “candidate gene approach,” which requires identifying a gene that is already linked with a known biological function — such as Alzheimer’s disease or the production of a specific neurotransmitter. If people who scored high on intelligence tests shared a particular variant of that gene, it was believed, that demonstrated the gene’s role in intelligence.“These were reasonable hypotheses,” said study co-author Daniel J. Benjamin ’99, Ph.D. ’06, assistant professor of economics at Cornell University. “But in retrospect, either the findings were false positives or the effects of the genes are much, much smaller than anyone had anticipated.”Chabris, however, emphasized that the results don’t point to the idea that the dozen genes examined in the study play no role in intelligence, but rather suggest that intelligence may be tied to many genes and the ways in which they interact.“As is the case with other traits, like height, there are probably thousands of genes and their variants that are associated with intelligence,” he said. “And there may be other genetic effects beyond the single gene effects – there could be interactions between genes, there could be interactions between genes and the environment. What our results show is that the way researchers have been looking for genes that may be related to intelligence — the candidate gene method — is fairly likely to result in false positives, so other methods should be used.”last_img read more

Mario Lopez Tapped for Grease: Live

first_imgMario Lopez is the one that Fox wants! The Saved by the Bell fave will play Vince Fontaine in the upcoming live telecast of Grease. Starring the previously announced Great White Way alums Aaron Tveit as Danny Zuko and Vanessa Hudgens as Rizzo and more, Grease: Live will hit the small screen on January 31, 2016.The popular tuner, which features a score and book by Jim Jacobs and Warren Casey, follows teenagers in love during the soda shop culture of the 1950s. The show premiered on Broadway in 1972 and has been revived on the Great White Way twice since. The 1978 film adaptation starred John Travolta, Olivia Newton-John and Stockard Channing.Hamilton’s Thomas Kail will serve as the director overseeing the stage direction, with DWTS’ Alex Rudzinski as the live television director. The cast is set to also include Julianne Hough as Sandy, along with Cindrella alums Keke Palmer and Carly Rae Jepsen as Marty and Frenchy, respectively.Robert Cary and Buyer & Cellar scribe Jonathan Tolins will pen a new script for television. The pair contributed additional book material to the recent revival of On the Town. View Commentslast_img read more

Black-eyed Peas

first_imgThe lucky legume has been part of a boom-and-bust cycle for the past three decades thanks to a pod-feeding weevil that has, so far, evaded farmers’ best pest control practices. This year is going to be a bust due to high pest pressure, said David Riley, a professor of entomology at the University of Georgia who works with vegetable pests.Earlier this month, scientists from across the United States and farmers from across the Southeast gathered in Savannah, Georgia, for the Southern Pea Workshop, part of the annual Southeast Regional Fruit and Vegetable Conference. Their goal was to develop strategies for controlling the cowpea curculio, a relative of the boll weevil that has a taste for peas.“The crop is really under severe pest pressure,” Riley said. “It’s not a new problem, but it’s one that reoccurs every few years … Some years the crop is good, but the reason this has reached a critical point this year is because the last few available insecticides that we were using to control this pest have stopped working.”The pest pressure was so bad last year that the largest pea grower in Georgia’s largest pea-growing county, Colquitt County, sold his pea-shelling equipment at the end of the season, said Jenna Brock, a UGA Cooperative Extension agent in Colquitt County. He won’t grow peas anymore, she said.“They were our main pea grower, with hundreds of acres, and he’s just gotten out of it,” Brock said. “He still grows other vegetables – spinach and some corn – but peas that were packaged and sold frozen in the grocery store have been a big part of his business.”Colquitt County went from growing almost 1,800 acres of Southern peas in 2015 to less than 500 acres in 2016, Brock said. She doesn’t expect many farmers to increase their acreage in the 2017 season.“If we can’t solve this problem, Southern peas will never come back to Georgia in a big way,” Riley said.A rich historyAt the turn of the 20th century, Southern peas – the family of legumes including black-eyed peas, purple-hulled peas and crowder peas – covered close to 6 million acres across the Southeast. They were the primary legume, grown for livestock feed until World War II, when the soybean took over its spot in fields.Drought-tolerant, disease-resistant and able to fix its own nitrogen in the soil, the crop was a powerhouse in the Deep South.“One hundred years ago, it was a crop of national importance because of its use as traditional Southern food and as animal forage and feed,” Riley said. “Then, after the emergence of soybeans, all the cowpeas that were used for livestock production disappeared, and then all that was left was the peas grown for food.”What was left in the Southeast was the close to 30,000 acres of cowpeas that make their way to our local supermarkets each year.Southern peas started facing pressure from the cowpea curculio in Georgia in 1873, and by the 1910s, it was widespread throughout the South. By the 1980s, pyrethroid insecticides were the most effective control, but since then, even that group of insecticides has not been enough to control the pest. Populations of the cowpea curculio overwinter readily, and after a few years of building up populations, become unmanageable. When farmers stop planting Southern peas in the region for a few years, the curculio population can drop. Then farmers start growing Southern peas again, and the cycle reboots.Riley took his post as a vegetable entomologist with UGA in 1996, and in 1997, the large black-eyed pea marketers pulled out of Georgia because of curculio problems. Georgia black-eyed peas were just too riddled with damage to meet consumer demand. The acreage of black-eyed peas in Georgia plummeted, and with it, so did cowpea curculio populations.With fewer curculio problems, acreage began to rebound, peaking in 2015 at about 7,600 acres, according to UGA’s 2015 Farm Gate Value Report, published in 2016.As the acreage peaked, so did curculio problems, Riley said.UGA vegetable horticulturists and entomologists have robust pest-control research programs for most of Georgia’s larger vegetable crops. Peppers, onions and watermelons are covered by a selection of insecticides and an array of growing practices that have been shown to control pest populations.But those integrated pest management programs have been developed through years of research, and that research costs money, money that often isn’t abundant for small-acreage crops like black-eyed peas.Solutions to the problemOver the course of this year’s Southern Pea Workshop, researchers compared notes on the grower-funded research projects they’ve been working on across the South, shared news about breeding programs that could make peas resistant to the weevils and put together the crop profiles and strategic plans needed to seek research funding from the U.S. Department of Agriculture’s specialty crop program.Riley believes that the solution to the pea problem will involve developing a trap crop that can be planted in the spring to trick the curculios into laying their eggs early and in the wrong crop. There are also efforts underway to breed weevil-resistant Southern peas.Hundreds of heirloom and landrace varieties could be bred with classic black-eyed peas to develop weevil resistance. There may also be options to genetically modify peas.Establishing resistance would have a significant impact not only for south Georgia pea farmers, but for families around the world who rely on Southern pea varieties as dietary staples. Across Africa, farmers grow about 26 million acres of Southern pea varieties.California is currently the largest producer of black-eyed peas in the United States. “If you don’t have the curculio, it becomes one of the easiest, cheapest crops to grow,” Riley said. “It naturally fixes its own nitrogen in the soil, and most of the disease and other insect problems are easily manageable. They’re the most drought-tolerant legume you can grow.“It’s got all of the pluses and this one big minus. If we would just take care of this curculio, we could have large acreage again because it is truly a very utilitarian crop.”  For more on the integrated pest management solutions developed by UGA College of Agricultural and Environmental Sciences researchers visit read more

Treasury Targets Major Money Laundering Network Operating Out of Colombia

first_img Several family members and associates of Guberek Ravinovicz and Guberek Grimberg were also designated for materially supporting the principals’ money laundering activities and/or for helping to manage their companies. The family members include Henry Guberek Grimberg’s two brothers, Felipe Guberek Grimberg, a businessman currently residing in Israel, and Arieh Guberek Grimberg, a licensed soccer agent. The business associates include Johanna Patricia Ceballos Bueno, the secretary of Guberek Ravinovicz and Guberek Grimberg, who manages the day-to-day operations of the network from their offices in Bogota. These 31 individuals and entities together form a money laundering network responsible for laundering hundreds of millions of dollars in drug money connected to drug trafficking organizations, including Ayman Saied Joumaa and Linares Castillo who were both previously designated by the Treasury Department. In a separate action, the U.S. Attorney’s Office for the Southern District of Florida and the Drug Enforcement Administration’s (DEA) Miami Field Division announced the filing of criminal charges against four defendants, including Isaac Perez Guberek Ravinovicz, Henry Guberek Grimberg, and Johanna Patricia Ceballos-Bueno — designated by the Treasury on July 9 — all Colombian nationals, for their participation in an international money laundering conspiracy in which they laundered millions of dollars for transnational drug trafficking organizations. Guberek Ravinovicz and Guberek Grimberg primarily rely upon the use of ostensibly legitimate textile companies within Colombia to engage in trade-based money laundering. Using bank accounts for these companies, as well as accounts belonging to a series of shell companies in Panama, Guberek Ravinovicz and Guberek Grimberg provide a means for traffickers to transfer narcotics proceeds back to Colombia from locations all over the world, with drug money transiting additional accounts in Spain, Hong Kong, the United States, Mexico, China, Israel, the Cayman Islands, and Venezuela, as well as other locations in Europe and Central America. The U.S. Department of the Treasury announced on July 9 the designation of Colombian nationals Isaac Perez Guberek Ravinovicz and his son, Henry Guberek Grimberg, as well as 29 other individuals and entities, including companies located in Colombia, Panama, and Israel, as Specially Designated Narcotics Traffickers (SDNTs). By Dialogo July 12, 2013 “Money laundering is the lifeblood of the narcotics trafficking world,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “Our action against this major money laundering network strikes a powerful blow at the illicit profits flows of criminals like Ayman Joumaa and Linares Castillo.” This action builds upon the U.S. government’s continued campaign to target global narcotics networks, including that run by Joumaa whose global narcotics enterprises have stretched from South America to Africa and have benefited terrorist groups such as Hezbollah. By designating the individuals and entities behind this money laundering organization, the Treasury Department is taking another step to protect the international financing system from abuse by narcotics traffickers, money launderers, and terrorists. last_img read more

Family Business: Corruption In The Maduro Regime

first_imgBy Ricardo Guanipa D’erizans July 25, 2019 On June 28, the U.S. Department of the Treasury sanctioned Nicolás Maduro Guerra, son of illegitimate Venezuelan President Nicolás Maduro, for his participation in government censorship and corruption. Maduro Guerra, also known as Nicolasito, is the latest Maduro relative to be sanctioned by the U.S. government.To learn more about Maduro’s family involvement in corruption, Diálogo spoke with Freddy Superlano, president of the Permanent Finance and Economic Development Commission at the Venezuelan National Assembly, and Américo De Grazia, an Assembly representative who took refuge at the Italian Embassy in Caracas in May.Diálogo: Has the Finance Commission been able to carry out an investigation to demonstrate the participation of Maduro and his family in corruption cases?Freddy Superlano, president of the Permanent Finance and Economic Development Commission at the Venezuelan National Assembly: No conclusions as such, because there’s no access to information in Venezuela. Since we entered [the National Assembly in December 2015], we haven’t been able to access information from the Office of the Prosecutor or the Comptroller General. And they prevented officials from appearing with a ruling from the Supreme Court of Justice. However, we’ve exposed the connection of Cilia Flores [Maduro’s wife] to Colombian businessmen involved in corruption with the CLAP delivery [Local Supply and Production Committee], where Maduro misused more than $5 billion. Deputy Américo De Grazia also exposed the participation of Nicolás Maduro’s son, Nicolás Maduro Guerra, in illegal mining in southern Venezuela, as well as high military commands linked to illegal businesses in Petróleos de Venezuela, mining or CLAP. Diálogo: Does Maduro’s son lead a gold smuggling network?Américo De Grazia, representative of the Venezuelan National Assembly: In recent years, we’ve exposed all activities involving corruption; mining extraction in the Orinoco Mining Arc, connections to criminal and terrorist groups such as the National Liberation Army [ELN, in Spanish], Hezbollah, Hamas, armed colectivos, and pranes [gang leaders] organized in unions operating in 51 percent of the national territory, covering Delta Amacuro, Bolívar, and Amazonas states. Nicolás Maduro Guerra, son of Nicolás Maduro Moros, has been obviously involved not only in gold mining, but also coltan and diamonds, with direct links to guard their mining sites. The ELN manages them directly. The colectivos, military, or third parties don’t manage them, nothing like it. Moreover, other Nicolás Maduro Moros relatives, whose names I don’t remember, are involved in gold mining.Diálogo: Can you prove that?De Grazia: In 2016, Venezuelan Army First Lieutenant José Leonardo Cúrvelo was caught in La Romana [a military checkpoint in Bolívar state]. He had a significant amount of bolívares in cash, bound for the mine. That money came from bank accounts of PDVAL [Venezuelan Food Production and Distribution] and MERCAL [Food Market Mission], operated by Cilia Flores’ nephews, and the mission was to take them to the mine for payment. This is in a file that we submitted and presented to the Office of the Attorney General, the Ombudsman’s Office. That file proves the involvement of the Maduro-Flores family in the mining industry. We have the testimony of the First Lieutenant, who is now exiled in Lisbon, Portugal. I’m at the Italian Embassy in Caracas, so I can’t provide names because I don’t have the files, but it has all been proven.Diálogo: Has Maduro designed a criminal network within his government?Superlano: Of course he has. For example, in Cilia Flores’ case her relatives have had high positions within the national government. For example, Carlos Malpica Flores [Cilia Flores’ nephew], chief financial officer for Petróleos de Venezuela and also former national treasurer, is connected to Alejandro Andrade [sentenced to 10 years in a U.S. prison] and Raúl Gorrín [a fugitive from U.S. justice] in a corruption scheme that nears $5 billion in wire transfers made by Gorrín with the National Treasury and Petróleos de Venezuela. It’s also been estimated that transfers might have reached more than $7 billion. But there are also other Maduro family members who are involved in corruption and narcotrafficking, which is the case of two of Cilia Flores’ nephews, who are imprisoned in New York [serving an 18-year sentence] for cocaine trafficking. Evidently, since this lady became president of the National Assembly [2006-2011], she appointed all her family to various positions back then, such as Assembly directors; the Parliament’s roster had also many of Cilia Flores’ relatives. When she entered Miraflores, her nephews [took on roles] at the CICPC [Scientific, Criminal and Forensic Investigations Corps], the Ministry of Foreign Affairs, Miraflores Palace, Petróleos de Venezuela, and the National Treasury, among others.Diálogo: How much money has Chavismo stolen during the 20 years of the regime?Superlano: We have an estimate for the 20 years these gentlemen have been in office. We think that the patrimonial damage to the nation is near $350 billion, based on serious investigations several companies carried out, in the case of Petróleos de Venezuela, about $150 billion, or CADIVI [Currency Exchange Administration Commission], with $140 billion. This might not be accurate, since other important corruption cases are not included, for example regarding the electric power, but you can be certain that it isn’t less than $350 billion for the 20 years of the Chavismo-Madurist regime.last_img read more

Indonesia reports two avian flu cases

first_imgNov 13, 2006 (CIDRAP News) – Two new human cases of H5N1 avian influenza, one of them fatal, were reported in Indonesia today, raising the country’s toll to 74 cases with 56 deaths.A 30-month-old boy from Karawang in West Java province died of the illness today, the World Health Organization (WHO) reported, citing information from the Indonesian health ministry. The boy became ill Nov 5 and was hospitalized Nov 10.An initial investigation turned up reports of chicken deaths near the boy’s home in the days before he got sick, the WHO said.The other new case is in a 35-year-old woman from Tangerang in Banten province, also on Java, the WHO said. Her illness began Nov 7, and she has been hospitalized since Nov 10. Officials are trying to learn how she was exposed to the virus, the WHO said.An official from Indonesia’s avian flu information center said the boy had been in contact with poultry but could not say whether the same was true of the woman, according to an Agence France-Presse (AFP) report published today.AFP said the woman is being treated at Jakarta’s Sulianti Saroso hospital.The two H5N1 cases are the first reported in Indonesia since Oct 16, when the WHO reported three fatal cases, all on Java. The two illnesses have increased the WHO’s global avian flu tally to 258 cases with 153 deaths. Indonesia has the most deaths of any country, but Vietnam still has the most cases with 93.See also:Nov 13 WHO update read more

Valamar introduces “Work from Hotel” offer in Poreč

first_imgPhoto: Valamar Last month, Valamar launched a new “long stay” service rent for a longer stay of at least one month, which he introduced to Istra Premium Camping Resort in Poreč and Ježevac Premium Camping Resort on the island of Krk. There is of course a special wellness program, and the hotel also offers an indoor pool and gym, as well as bed and dinner service within the hotel. Although it is a similar offer, the difference is that this offer is based on a shorter stay and primarily focused on business users, ie digital nomads who will move the office to a hotel for a few days, while the “long stay” offer is based on a minimum one month stay. Interestingly, as part of the “long stay” offer, Valamar also focused on digital nomads in camps in Istria and Krk, although it is a long-term lease of at least a month, but the new offerWork from Hotel „ yet it is more naturally tied to digital nomads who will move the office to a hotel for three or a week, to merge meetings in a region, or change the location of the office to merge business with pleasure. / / / VALAMAR INVITES ALL DIGITAL NOMADS TO ISTRIA AND THE ISLAND OF KRKcenter_img Now Valamar has gone a step further, and introduced the offer “Valamar Diamant Hotel 4 * in Poreč”Work from Hotel”. “As part of this new Valamar offer, the hotel room of one of the most famous hotels in Poreč becomes an ideal workplace for maximum work performance because it offers the comfort of a spacious living room and work space, high speed internet, direct dial telephone, coffee maker and room service. Guests can also book a meeting room equipped with projectors, a conference call system and a printer.”Point out from Valamar and add that it also offers opportunities for guests with children who can enjoy their animation Maro Club. The offer includes a 15% discount on accommodation for a minimum of 3 nights, and is valid for the period from November 1, 2020 to March 20, 2021. In the offer of the Valamar Diamant hotel, guests will be able to choose comfortable suites with a view of the sea or the park and enjoy many benefits.Workation Deala, Which has become a popular global trend. last_img read more

Helix Trims Q3 Profit

first_imgOffshore services player Helix Energy Solutions has recorded lower profit in the third quarter of 2017.On revenue increase of some $2 million year-over-year, the Houston-based well intervention and robotics specialist generated net income of $2.3 million, or 2 cents per diluted share, against some $11.4 million loss, or $10 cents per diluted share in the year-ago quarter.Sequentially, Helix revenues increased close to 9 percent.Q3 2017 revenues were approximately $163 million, up from $161 million in Q3 2016, and from $150 million in Q2 2017.Robotics business revenues increased 42 percent, while Helix’s well intervention division earned $1.6 million less year-over-year on operational downtime in the North Sea.For the nine months ended September 30, 2017, Helix generated revenues of $418 million, up from close to $360 million in the prior year comparable period. Year-to-date, the company has trimmed its loss to 14 cents per share, against 25 cents in 2016.Owen Kratz, president and chief executive officer of Helix, said: “Our third quarter results were negatively impacted by some operational downtime experienced by the Well Enhancer in the North Sea and some idle time on the Q5000 between projects. These negative impacts were partially offset by improvements in our Brazilian well intervention operations for the quarter with the Siem Helix 1 completing its first full quarter of operations. We continue to expand our operations in Brazil as the Siem Helix 2 is currently expected to commence commercial operations late in the fourth quarter.”Subsea World News Stafflast_img read more