Home Depot May Avoid Bank Ban
Atlanta, The Home Depot may escape recently passed legislation barring retailers from operating banks. According to reports, Rep. David Scott (D-Ga.), said he supported the bill, but only if it included a provision allowing for Home Depot to continue with its plans to operate an industrial loan corporation (ILC).
According to reports, Home Depot intends to move forward with its plans to acquire EnerBank USA, and that because it applied for FDIC approval before Congress began to propose legislation on ILC bans, it should be exempt from any new laws put into place.
Although approved by the House of Representatives, the Industrial Bank Holding Company Act of 2007 still needs to go through the Senate, where it faces expected opposition from Robert Bennett (R-Utah), whose state charters most ILCs.
New Energy-Efficient Truck With RFID From Jungheinrich
Richmond, Va.-based Jungheinrich Lift Truck Corp. has announced the introduction of a new, much more energy-efficient and versatile version of its EKX 513-515 electric man-up turret trucks to the North American market. The new 3-wheel high-rack stackers are designed for very narrow aisle work in dense-storage warehouses and distribution centers. This series also offers radio frequency identification (RFID) technology as a standard feature.
The new trucks are now 30% more efficient in terms of energy recovery and will get up to 13 hrs. of run time vs.10 hrs. on the previous model.
The new model offers intelligent truck management as a standard, built-in feature. An RF transmitter and receiver goes under the truck and a small capsule-sized transponder is buried in the warehouse floor. The capsule can be programmed to issue a range of commands whenever the truck passes over it—for example, slow down, limit lift height, sound the horn, and so on.
Through this RFID technology, the truck control system knows exactly where it is in the warehouse at all times, so performance can be tailored from spot to spot.
Other impressive features on the new truck include an electrically adjustable operator’s console. The entire console used by the operator to lift and lower loads and drive the machine can be adjusted to a position most ergonomically suitable to the particular operator driving the truck—or to suit the operation being carried out. A press of a switch adjusts the console position, and another locks it in place.
Jungheinrich is a major supplier of forklift trucks around the globe, and offers a complete range of materials-handling equipment, rack systems and services related to manufacturing logistics.
Hot Topic 1Q Loss Narrows
City of Industry, Calif., Hot Topic Inc. posted a smaller net loss for its fiscal first quarter on Wednesday, as sales inched higher.
For the quarter ended May 5, the company posted a loss of $809,000 compared with a loss of $1.4 million in the same period a year ago.
Comp-store sales declined 2.3% during the quarter, while revenue climbed 2% to $157.3 million from $154 million.