Latest news with #Hillman
Axios
2 days ago
- Business
- Axios
Entergy, grid operator promise earlier warnings after Memorial Day weekend outages
New Orleanians could get earlier warnings before the next rolling blackout, according to Entergy and the regional grid operator — a change prompted by the widespread Memorial Day weekend outages. Why it matters: Utilities knew the grid was strained for at least 48 hours but didn't tell the public until the AC went out for about 100,000 customers on a hot holiday weekend. The big picture: The May 25 event was an "extremely rare" transmission emergency, not a capacity issue, said Todd Hillman, senior VP and chief customer officer at Midcontinent Independent System Operator. Speaking to the New Orleans City Council on Tuesday, Hillman likened the agency to air traffic controllers for the power grid. There was enough power elsewhere, he said, but they couldn't get it to metro New Orleans to meet the demand. (MISO's full explanation) To prevent outages spreading throughout the region, MISO told Entergy and Cleco to cut power by specific amounts within 30 minutes. Entergy operators in Jackson, Mississippi, used models to select neighborhoods for the outage. (Timeline from Entergy New Orleans) How it works: New Orleans is in a "pocket" in MISO's system, which makes it more difficult to get power to the area. Think of the transmission lines like bridges accessing an island, Hillman said. When only two of the three bridges are working, traffic is limited. MISO has done transmission line improvements elsewhere in its system, but there's a bottleneck in south Louisiana. Improvement projects are still in the planning phases, MISO reps said Tuesday. Friction point: Industrial customers use 70% of the state's power, according to Public Service Commissioner Davante Lewis, who was in council chambers Tuesday for the committee meeting. "I feel that there has been a priority by our utilities in favor of industrial customers at the expense of residential and commercial," Lewis said. "I think we have to have a big conversation about that." Stunning stat: Louisiana's electricity customers experience more than 12 times as many hours of power outages than the national average, writes Axios' Chelsea Brasted. What we're watching: New Orleans is working on ways to make itself more sustainable during power outages. It has the Community Lighthouse project, and the council is looking at microgrids and virtual power plants. These would use a network of solar panels and battery storage systems to serve as a backup to the grid if it goes down or there's a strain. Go deeper. Council President JP Morrell tells Axios he expects the council to make a decision this year about the virtual power plants. Zoom out: More communication has been an ongoing theme in recent council meetings. Members want to get information to the public sooner, especially through the NOLA Ready text system. Examples: The jail outbreak and neutral ground parking. What's next: The Louisiana Public Service Commission will hear from MISO and Entergy Louisiana at its June 18 meeting about the power outages and the transmission situation. Go deeper
The Herald Scotland
2 days ago
- Business
- The Herald Scotland
Trump pushes forward on tariffs despite court challenges: What to know
The tariffs are expected to be a major topic of discussion during Trump's meeting on June 5 with Germany's new chancellor, Friedrich Merz, and in an as-of-yet unscheduled phone call that the White House says the United States president will be holding this week with his Chinese counterpart, Xi Jinping. At the same time, court challenges threaten to keep his administration from enforcing county-specific tariffs. The legal challenges to Trump's tariffs in court have only been a minor setback, Commerce Secretary Howard Lutnick said in a June 1 appearance on "Fox News Sunday." "Rest assured, tariffs are not going away," Lutnick said, adding that even if higher courts upheld rulings that the law Trump cited to impose tariffs didn't grant him that power, the administration would find another legal power to use. Countries quickly came back to the table to negotiate deals after an appeals court allowed Trump's tariffs to remain in place while the administration makes its case. Trump increases tariffs on aluminum and steel Trump has already started to pull some of those levers, announcing plans last Friday to double tariffs on steel and aluminum imports. Trump said a previously imposed tariff of 25% would increase to 50% on June 4. He signed an order formalizing the hike on June 3. The tariffs were expected to affect Canada, which is the largest supplier of steel and aluminum to the United States, and Mexico among other nations. The European Union promptly warned that it could expand a list of countermeasures it is preparing to go into effect in mid-July if a trade agreement with the United States is not reached. Canadian ambassador to the United States Kirsten Hillman told USA TODAY in an interview that the increase was "unideal" but Canada's steel and aluminum exports have other markets that producers have already started to pivot to where they remain in demand. The higher tariffs will be "very negative for the U.S. economy" and for trade between the two countries, Hillman said. She predicted that the hike would lead to "a wall" being erected between the countries for the two metals, prompting shortages and increased costs for Americans. "Those are really costs that are going to be borne by Americans through price increases in everything from cars to home goods, anything that's manufactured with those two metals, which is an awful lot of what we use in our everyday lives," Hillman said. White House downplays trade letter to countries In a separate escalation against America's trading partners, the office of the United States Trade Representative pressed countries to respond by June 4 with their best offers to avoid higher country-specific tariffs. Trump had previously told countries they had until July 8 to cut deals with the United States as part of a 90-day pause on so-called "reciprocal" tariffs he imposed and then halted earlier this year. A universal tariff of 10% that Trump put on most nations at the same time remains in place, as do the tariffs he put on Mexico, Canada and China that were tied to his efforts to combat illegal immigration to the United States and the flow of fentanyl. After a draft of the letter leaked to Reuters, two senior administration officials told USA TODAY that it was not a final notice. White House press secretary Karoline Leavitt also sought to downplay the significance of the correspondence at a June 3 press briefing, where she told reporters, "This letter was simply to remind these countries that the deadline is approaching, and the president expects good deals, and we are on track for that." Canada, China, EU in the crosshairs It was not immediately clear which nations received the letter. Hillman told USA TODAY that Canada, whose minister for trade with the United States Dominic LeBlanc is currently in Washington for talks, was not among them. The meeting is a continuation of the conversation that took place between Trump and Canadian Prime Minister Mark Carney, the ambassador said, and was not expected to immediately produce a major announcement. Trump currently has a higher tariff of 25% on products not covered by a trade deal between the United States, Canada and Mexico, and a 10% tariff on potash (a kind of fertilizer) and Canadian energy products that are not exempted under the agreement. The administration has said it is talking about deals with more than a dozen countries but none have emerged so far outside of a framework agreement with the UK. The president last month threatened, and then backed off, a threat to impose a 50% tariff on the European Union, as trade talks with the bloc continue. The EU declined on June 2 to comment on the reported USTR letter. U.S. Trade Representative Jamieson Greer is currently in Paris negotiating with trading partners, the White House said on June 3. Trump will also speak to Merz of Germany on June 5 when the leader visits White House for the first time since his May election. Leavitt told reporters that Trump has been "very direct" in his talks with foreign leaders and had told them "they need to cut deals" with his administration. "He's unafraid to use tariffs to protect our industries and protect our workers, but he wants to see these tailor-made deals be signed," Leavitt added. Trump is also expecting to speak with Xi of China this week, the White House has said. The president last week accused China of violating an agreement between the two nations to deescalate their trade war. China fired back that it was the United States undermining the deal that saw the U.S. reduce a 145% tariff to 30% while negotiations take place. Leavitt affirmed to reporters on June 3 that call between the leaders was likely to take place this week but declined to provide additional details during her briefing. A spokesperson for the Chinese embassy in Washington declined to comment on the possibility of a call, the status of negotiations and whether Beijing had received the letter from the United States' trade representative. Trump tariffs hit legal snags The tariffs have faced numerous legal challenges since Trump began rolling them out shortly after taking office. Most recently, the U.S. Court of International Trade paused tariffs that Trump imposed without congressional approval only to have the ruling temporarily blocked by a federal appeals court. A U.S. district court also blocked Trump tariffs from hitting two toy manufacturers at the end of May. The Trump administration appealed that decision on June 2. In another case, a judge on June 2 dismissed a challenge from the state California, saying the filing belongs in the international trade court that is based in New York. The decision will allow California to bring its case to another appeals court. In a series of TV appearances on June 1, administration officials said they were confident courts would ultimately side with Trump. But if a judge rules against the administration, there are "other alternatives that we can pursue as well," the president's National Economic Council director, Kevin Hassett, said in an interview on ABC News' "This Week." He offered provisions of U.S. trade law that give the executive branch the power impose tariffs on imports Trump deems a national security threat or in response to unreasonable or discriminatory trade imbalances as potential options. "This is something we've been studying from 2017 on," he said. "We picked the best way. It's going to be upheld in court."
Hamilton Spectator
2 days ago
- Business
- Hamilton Spectator
Trump signs order to double tariffs on steel, aluminum Wednesday
WASHINGTON - U.S. President Donald Trump has signed an executive order that will double steel and aluminum tariffs on Wednesday as Canadian officials say they're still hoping for a good outcome from meetings in Washington. In March, Trump imposed 25 per cent tariffs on steel and aluminum imports to the United States. Trump announced his intention to increase the duties to 50 per cent at a steel plant on Friday. When asked whether there would be exemptions during Tuesday's media briefing, White House press secretary Karoline Leavitt said Trump 'made that announcement in Pennsylvania and he plans to deliver on that promise to Pennsylvania.' The increase doesn't apply to imports from the United Kingdom, which remain at 25 per cent while the Trump administration continues to work out details of a trade deal announced last month. Canada is the largest steel supplier to the United States, accounting for nearly 25 per cent of all imports in 2023. About a quarter of all steel used in America is imported. Canadian industries have said the tariffs will have a devastating impact and have called on Ottawa to provide support. 'Canada's position is that these tariffs are not justified,' said Kirsten Hillman, the Canadian ambassador to the United States. Despite the higher duties that will hammer Canada's steel and aluminum industry, Hillman and Canada-U.S. Trade Minister Dominic LeBlanc said they were optimistic following a meeting with U.S. Commerce Secretary Howard Lutnick on Tuesday afternoon. 'Every time we have these conversations, I think we deepen our understanding of each other's positions,' LeBlanc said. 'And I'm hopeful that we can get to the best outcome for Canadians.' LeBlanc said Lutnick listens carefully, takes notes and asks questions. Hillman said they talked with the commerce secretary about ways to address U.S. concerns, citing the dumping of steel and aluminum in other countries that drives down domestic production. 'It's going to take a bit of time but we had positive conversations,' Hillman said. 'I think we both came out feeling good.' Earlier Tuesday, U.S. Ambassador to Canada Pete Hoekstra gave a Canadian audience a similarly positive reflection on the bilateral relationship that has been rocked by Trump's tariffs and threats to make Canada a U.S. state. Speaking at a Toronto event organized by the Empire Club of Canada, Hoekstra said Trump's tariffs can be an opportunity for Canada. The president hit Canada with economywide tariffs related to fentanyl in March, but walked the levies back a few days later for imports compliant under the Canada-U.S.-Mexico Agreement on trade, called CUSMA. Trump has also hit Canada with 25 per cent tariffs on automobiles, with an exemption for American-made components in vehicles. Hoekstra, a former congressman for Michigan, said as Ottawa and the Trump administration go through these negotiations, 'our chief competitor here is China.' 'How do we use the strengths of the U.S. auto industry? How do we use the strengths of the capabilities of Canada, and how do we bring those together in such a way that we're beating China and not each other?' Hoekstra said. The president still seems committed to his goal of realigning global trade through tariffs. He posted on social media Tuesday that 'Because of Tariffs, our Economy is BOOMING!' Economists have said the higher tariffs could lead to significant cost increases for Americans. The government's producer price index says the price of steel products has gone up roughly 16 per cent since Trump implemented the tariffs. Trump imposed 25 per cent steel tariffs and 10 per cent aluminum levies during his first administration for about a year. The Washington-based Tax Foundation reported that during that period, companies were forced to pay higher prices and the duties resulted in the loss of about 75,000 manufacturing jobs. The Peterson Institute for International Economics concluded that each job saved in steel-producing industries by the tariffs came at a high cost to consumers — roughly $650,000 per job. On May 30, after Trump announced he was doubling the tariffs, Canadian Labour Congress president Bea Bruske said it was 'yet another direct attack on Canadian workers and a reckless move that will send shock waves across the Canadian economy.' 'This decision will shut us out of the U.S. market completely, devastating Canada's steel and aluminum industry and threatening thousands of good-paying, unionized Canadian jobs,' Bruske said. This report by The Canadian Press was first published June 3, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
22-05-2025
- Business
- Yahoo
1 Industrials Stock with Solid Fundamentals and 2 to Turn Down
Even if they go mostly unnoticed, industrial businesses are the backbone of our country. Unfortunately, this role also comes with a demand profile tethered to the ebbs and flows of the broader economy, and investors seem to be forecasting a downturn - over the past six months, the industry has pulled back by 11.4%. This performance was worse than the S&P 500's 2.1% loss. Despite the lackluster result, a few diamonds in the rough can produce earnings growth no matter what, and we started StockStory to help you find them. Taking that into account, here is one industrials stock poised to generate sustainable market-beating returns and two we're steering clear of. Market Cap: $9.54 billion Credited with the invention of the glass-lined water heater, A.O. Smith (NYSE:AOS) manufactures water heating and treatment products for various industries. Why Are We Wary of AOS? Core business is underperforming as its organic revenue has disappointed over the past two years, suggesting it might need acquisitions to stimulate growth Demand will likely be soft over the next 12 months as Wall Street's estimates imply tepid growth of 2.8% Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 7.5 percentage points At $67.12 per share, A. O. Smith trades at 17.4x forward P/E. Dive into our free research report to see why there are better opportunities than AOS. Market Cap: $1.47 billion Established when Max Hillman purchased a franchise operation, Hillman (NASDAQ:HLMN) designs, manufactures, and sells industrial equipment and systems for various sectors. Why Does HLMN Give Us Pause? Sales stagnated over the last two years and signal the need for new growth strategies Poor expense management has led to an operating margin of 3.7% that is below the industry average Underwhelming 4% return on capital reflects management's difficulties in finding profitable growth opportunities Hillman's stock price of $7.51 implies a valuation ratio of 13.1x forward P/E. Read our free research report to see why you should think twice about including HLMN in your portfolio, it's free. Market Cap: $50.63 billion Operating a network of municipal solid waste landfills in the U.S. and Canada, Waste Connections (NYSE:WCN) is North America's third-largest waste management company providing collection, disposal, and recycling services. Why Is WCN Interesting? Annual revenue growth of 10.5% over the past five years was outstanding, reflecting market share gains this cycle Operating margin expanded by 4.1 percentage points over the last five years as it scaled and became more efficient Robust free cash flow margin of 15.2% gives it many options for capital deployment Waste Connections is trading at $195.93 per share, or 36.2x forward P/E. Is now a good time to buy? Find out in our full research report, it's free. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free.
USA Today
19-05-2025
- Sport
- USA Today
Brandyn Hillman says Michigan's reloaded defense to shine in 2025 despite NFL draft losses
Brandyn Hillman says Michigan's reloaded defense to shine in 2025 despite NFL draft losses DETROIT -- With Michigan football having lost several key defensive players to the NFL draft -- first-rounders Mason Graham and Kenneth Grant, second-rounder Will Johnson, and third-rounder Josaiah Stewart -- many across college football don't have high expectations for the Wolverine defense. Yet, the unit that was No. 10 in the country a year ago in total defense is ready to reload, and it's shown that it's capable of dominating, even without those aforementioned stars. Against Alabama in the ReliaQuest Bowl, nine of this year's expected 11 starters defensively were on the field at the outset of the game, while many others factored in. That group held a formidable, full-strength Crimson Tide offense to just 13 points. One of the stars of that game was safety Brandyn Hillman, who is now entering his junior year. Expected to start this year, Hillman believes that the defense showcased its ability in the ReliaQuest Bowl and that it will improve upon what was seen last year -- especially the lapses in the early season in 2024. "In one of my other interviews, I kind of said, in my opinion, we're the best in the country -- I mean the best group in the country up front and in the back end," Hillman said on the Locked On Wolverines Podcast. "The back end, we're real young, real young guys like me, Jyaire Hill, TJ Metcalf, Tevis Metcalf, Jacob Oden -- like everybody young. We're all around the same age, and then the guys up front, we're known for that, and it's never a step off. It's never a step off. Y'all seen it from the Alabama game. We didn't have Mason, K.G., but it wasn't a step off. You still out there getting to the quarterback. So I feel like it's a big year coming up, my guys ready. I'm ready to come out to show it." Hillman had already braved quite a bit of depth at the safety position to find himself in the rotation a year ago. Now he's expected to start, but with the room getting deeper with a trio of four-star freshmen and the Metcalf brothers transferring from Arkansas, there's even more competition at the position. The same can be said of the defensive tackle position, which added Clemson transfer Tré Williams and Alabama transfer Damon Payne. Particularly at defensive back, how does the competition help and how does it hinder? "In my opinion, just be consistent, know what you got to do," Hillman said. "The defense got to trust you. I mean, yeah, you can be the best player, but if you're out there on the field, nobody trusts you on the back end or on the island by yourself with that receiver, it's like -- I don't know if I want to put you in. But if you're consistent, showing it at practice, doing what you got to do, that's how you separate yourself from everybody else. And I take pride in myself for doing that. And I think I did that." Michigan fans will get a chance to see the defense in action starting on August 30 when the Wolverines host New Mexico for the 2025 season opener at The Big House.
