FINANCE

Rex Invests $51M in Ethanol Plant

BY CSA STAFF

Dayton, Ohio, Rex Stores Corp. has invested $50.8 million for the construction of an ethanol plant underway in Gibson City, Ill., according to Ohio’s Dayton Business Journal.

In June, Rex reported it had entered into an agreement with One Earth Energy LLC, of Gibson City, to build the facility. Rex’s funding gives it about 74% equity ownership in One Earth.

Construction is expected to be completed by the spring of 2009, according to earlier reports.

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Toys ‘R’ Us names ceo for Japanese division

BY CSA STAFF

WAYNE, N.J. Toys “R” Us announced today that Monika Merz has been promoted to ceo for Toys “R” Us, Japan, effective Nov. 15. Merz currently serves as president of Toys “R” Us, Canada. In her new role, she will be responsible for all aspects of the company’s owned and franchised operations in Japan. She will report to Kei Kodera, representative director, chairman and president of Toys “R” Us, Japan, and will be based in Tokyo.

In discussing her new position, Merz said, “I am extremely excited about the opportunity to contribute to our global business, and I look forward to working with the leadership team in Japan to identify new business opportunities and bring best practices from across the company to strengthen our position in this important global marketplace.”

Merz joined Toys “R” Us in October 1996 as vp and general merchandise manager for Toys “R” Us, Canada.  In this capacity, she oversaw all aspects of merchandising and marketing for the company’s Canadian operations.  In 2000, she was promoted to president of Toys “R” Us, Canada, where she helped expand the Canadian business to 67 locations. 

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Washington JCPenneys earn new Energy Star

BY CSA STAFF

PLANO, Texas JCPenney today announced that four of its department stores in Washington state have become the first buildings to earn the new retail ENERGY STAR rating for superior energy performance and environmental protection.

According to JCPenney, the company, using tools from the U.S. Environmental Protection Agency, analyzed the environmental performance of the Washington stores located in Bellevue, Burlington, Puyallup and Vancouver. JCPenney found that these stores use about 35% less energy than average retail stores, reducing carbon dioxide emissions from electricity generation by 3 million pounds a savings equal to the greenhouse gas emissions associated with electricity use of nearly 200 homes. Based on the new ENERGY STAR retail benchmark implemented Oct. 1, the four JCPenney stores collectively save almost $250,000 per year on energy, compared with average stores.

We are honored to be the first retailer to display the ENERGY STAR on our buildings, as it signifies our commitment to energy management and efficiency across our business, said Michael Dastugue, senior vp and director of property development for JCPenney. Through these four stores, we have demonstrated that a focus on sound facility operations and maintenance is effective for increasing the efficiency of both new and existing stores. In addition to better controlling utility costs and reducing the environmental impact of our operations, our energy management practices reflect our Every Day Matters philosophy and commitment to the communities in which we operate.

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