GE, CFM report billions in new orders

Published: Monday, June 19, 2017 @ 9:24 AM

Engineers work on a LEAP commercial jet test engine at GE Aviation in Evendale in December 2014. The engine, made by CFM, a joint venture between GE and French manufacturer Snecma, will be more fuel efficient and contain advanced materials. GREG LYNCH / STAFF
Engineers work on a LEAP commercial jet test engine at GE Aviation in Evendale in December 2014. The engine, made by CFM, a joint venture between GE and French manufacturer Snecma, will be more fuel efficient and contain advanced materials. GREG LYNCH / STAFF

GE Aviation and CFM International — companies with a strong Southwestern Ohio presence — are reporting plenty of new orders from the Paris Air Show, which began today.

GE Capital Aviation Services, the aviation leasing and financing arm of GE, on Monday announced a firm order for 200 CFM International LEAP-1A engines to power new Airbus A320neo family aircraft.

RELATEDGE Aviation, CFM go center stage in Paris

West Chester Twp.-based CFM values the agreement at more than $2.9 billion.

The LEAP engine is a product of CFM International, a 50-50 joint venture between GE and Safran Aircraft Engines. This engine has experienced what GE calls “the fastest order ramp-up in commercial aviation history,” with CFM receiving orders for more than 12,500 LEAP engines through May 2017.

Also Monday, CDB Aviation Lease Finance, a subsidiary of CDB Leasing, announced an order for LEAP-1B engines to power 42 Boeing 737 MAX 8 and four Boeing 737 MAX 10 aircraft.

That order is valued at more than $1.3 billion. Delivery of the engines will begin in 2021.

Also announced from France on Monday: China Eastern selected GE’s GEnx-1B engine to power its 15 new Boeing 787-9 Dreamliner aircraft. The engine order is valued at more than $850 million. Delivery of these aircraft will begin in 2018, GE said.

The aircraft order was announced last year.

Saj Ahmad, chief analyst for StrategicAeroResearch.com, said GE and CFM are off to a strong start. 

“GE and CFM have led the aero-engine industry for many years and it’s no surprise that GE leads on the 787, has a monopoly on 777X, while CFM enjoys 100 percent of 737 MAX orders while also leading the orders on the rival A320neo family,” he said in an email. 

 The General Electric Co. is Ohio’s largest manufacturing employer, with more than 15,000 employees. In Southwest Ohio, where its aviation unit is headquartered, GE anchors an aerospace parts manufacturing industry that employs thousands.

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Financial experts say you should do these things with your tax refund

Published: Thursday, February 22, 2018 @ 6:13 PM

‘Tis the season for taxpayers to get a nice chunk of change back from the IRS.

It’s tempting to spend it all, but financial experts say there are steps you should take to shore up your financial future. 

Some who usually pay off debt will splurge this year.

“I’m going to Japan in April so I’m actually going to add that to my travel fund, so I’m really excited about it,” said Olivia Morris from Centerville.

Those who used to spend their return? 

“I just plan to save it. We are about to start a family, so I plan on saving it for the baby,” said Toska Ivory of Dayton. 

It’s important to have a plan for tax return funds or any financial windfall, said Lisa Roberts, Graceworks certified housing and credit counselor.

Pay urgent bills first then save. 

“If it’s something that is urgent -- a bill that’s going to be a roof over your head, utilities, pay them,” said Roberts, “after that you definitely want to put it into savings.”

WalletHub has these additional tax refund spending recommendations:

  • Invest in an IRS or 529 savings plan for your child’s education
  • Refinance your home loan if you can get a lower rate
  • Increase your home’s value by doing some home improvement projects. 

As for splurging? 

“If you do have the funds to do that once all of your debts and things are paid- and saving- then by all means you’ve earned it,” said Roberts. 

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Millions approved for U.S. 35 work: What we know now

Published: Thursday, January 25, 2018 @ 9:28 AM
Updated: Thursday, February 22, 2018 @ 4:52 PM

U.S. 35 getting new lane eastbound from Dayton to I-675 in a couple of years

It appears that a new lane along U.S. 35 from Dayton to Interstate 675, as well as the building of a more easily flowing “super street” on 35 in Greene County, are on a fast track to development.

A key state committee yesterday approved state funding for the work in Montgomery County, adding a lane on 35 from Steve Whalen Boulevard to I-675.

The TRAC — the state Transportation Review Advisory Council — also re-confirmed an earlier vote approving a “super street” in Greene County, a project that will entail a new U.S. 35 interchange at North Valley and Trebein roads.

RELATEDMillions OK’d for U.S. 35 projects: New lane for Dayton, ‘super street’ in Greene County

Chris Kershner, executive vice president at the Dayton Area Chamber of Commerce and one of nine TRAC members, said the work in both counties is “essential for the east-west movement of goods and commuting for our region.”

“These projects have been on our priority list for a long time,” Kershner said Thursday.

“It’s a very good thing that funding was approved for those,” said Steve Stanley, executive director for the Montgomery County Transportation Improvement District.

The Eastern edges of the Dayton area have been growing for years, drawn by Wright-Patterson Air Force Base — which remains Ohio’s largest single-site employer, with an estimated 27,000 military and civilian employees — and Wright State University, along with businesses that serve them both.

RELATEDRoad work to pave way for business in airport area

The Valley-Trebein work is a separate allocation, a $2 million project. “That’s something that really needed to happen,” Kershner said.

Anyone who lives east of Beavercreek or travels through it is familiar with the traffic problems on 35, particularly between North Fairfield Road and the Xenia bypass.

“It’s become gridlock, and that continual gridlock will make us unattractive for economic growth,” Kershner said. “So yesterday’s TRAC vote will solve that problem.”

RELATEDDeveloper eyes $30M project ‘in the heart of Beavercreek

“The (TRAC) vote happened, and we’re on there (on the list of approved projects),” said Brian Martin, director of the Miami Valley Regional Planning Commission. “I think it’s a big deal.”

Federal funds of $2.4 million will serve as the “local” match for the Montgomery County project, Martin said.

On a draft TRAC list, the “super street” in Greene County is listed for an allocation of $13 million total. 

Martin said that project will get a blend of local and federal funds — about $3 million in federal funds and $1.5 million expected in local funds, from the city of Beavercreek, as well as Greene County and Beavercreek Twp.

That project is committed to fiscal year 2019, Martin said.

Also on the TRAC draft list as a “Tier II project” is a plan to improve access to Dayton International Airport and U.S. 40 from I-70 westbound. That is identified as a total $11.9 million project.

Placement on the Tier II list means the project is not ready to move forward on construction. Stanley said the TID will request Tier I construction funds this calendar year.

“That just means we start the process of the ODOT (Ohio Department of Transportation) considering” moving the project to the top tier, Stanley said. 

The idea of building a “super street” along U.S. 35 in Greene County — as a way to address congestion and accidents — has been eyed for years.

The plan will create U-turns instead of left-hand turns at the Orchard Lane and Factory Road intersections, which had 100 crashes over the last three years, a spokesman for the Ohio Department of Transportation said in a local public meeting in November.

The project is estimated to cost $16 million to $17 million total, that spokesman said in November.

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#NationalChiliDay: These are the top 10 chili cities in the U.S.

Published: Thursday, February 22, 2018 @ 8:17 AM


            KARA DRISCOLL/STAFF
KARA DRISCOLL/STAFF

Where should you celebrate National Chili Day? Cincinnati, of course.

A study by one of the world’s largest chili purveyors shows that residents of cities across the country love this classic comfort food as much or more than their Long Star State counterparts.

The internal analysis, conducted by Wienerschnitzel in honor of National Chili Day on Feb. 22, named the Top 10 Chili Cities in the United States. Residents in these markets eat more chili per person than residents of other cities, have access to more restaurants known for their chili and are more likely to enter or attend a chili cook-off.

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The survey ranked Los Angeles atop the list, followed by Dallas; Phoenix; Houston; San Francisco/Oakland; Chicago; Baton Rouge, La.; Springfield, Mo.; Cincinnati; and San Antonio who is credited with first popularizing chili in the 1890s, rounded out the top 10.

“Despite being the official dish of Texas, chili has grown to become America’s dish,” said Doug Koegeboehn, chief marketing officer for Wienerschnitzel. “At Wienerschnitzel, we’ve known that for years. In fact, we’d like to think that there are really only two types of people in the world: chili lovers and those who still haven’t tasted really great chili yet.”

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Target launches new home decor brand

Published: Thursday, February 22, 2018 @ 2:44 PM


            CONTRIBUTED
CONTRIBUTED

Target has released a new home decor brand that features dozens of bold colors, prints and textures.

The chain’s newest home brand, Opalhouse, has more than 1,300 pieces of furniture for the home. The brand includes bedding, bath, décor, tabletop and furniture. Most pieces are priced under $30.

Target has launched several new brands in the past year, including Threshold brand to celebrate its original relaxed classic intent, followed by an approachable modern aesthetic with Project 62 and modern farmhouse aesthetic with Hearth & Hand with Magnolia.

Opalhouse will be available in all Target stores and on Target.com beginning April 8.

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