600 Laid Off As Travis Perkins’ Profits Reach All-Time Low

frankies-story_banner

Travis Perkins, a renowned company in the building equipment business recently released a statement citing that its sales have continued to decline in its heating and plumbing departments. To compensate for the leaner earnings, it announced its decision to lay off 600 jobs as demands continued to decline over the summer. The morning after John Carter, the chief executive of Travis Perkins, revealed to investors that the market conditions of the company’s dividends had worsened, the shares dropped a further 6 percent. He stated that the company was not happy with the departments’ performances and will soon undergo a thorough investigation into these operations. profitTravis Perkins’ formerly predicted annual quota of earnings sans tax, interest and repayment, has been calculated to be lower than the market consensus of £415 million.

Previously, Travis Perkins has tackled financial problems in supplying heat and plumbing products, marked by a 4.1percent plunge. The financial committee of the company blamed the wholesale market’s intense price competition scenario, sudden price drops of materials such as plastic and copper and the withdrawal of the boiler replacement scheme that was incentivized by the Government among other things. A full review and formal report of the company’s heating, plumbing and bathroom departments will likely be completed and accessible to stockholders by next year.

Read Also : How To Get Intimate With Computer-Aided Design

Read More »

Electrical Experts Stumped By The Mysterious Frying On BART Trains

timthumb

In February, a rather mysterious occurrence took place on the BART (Bay Area Rapid Transit) trains that were traveling east. Those that took a route under the Bay of San Francisco began experiencing electrical propulsion equipment failing which escalated dramatically till 40 cars were put out of service. BART had about 80 cars put to rest for repairs. With the number of cars running the circuit depressingly low, irritated commuters were forced to pack into the remaining, working cars. Meanwhile, engineers speculated on the probability of a power surge though no solid evidence was ever found, causing media to dub the cause a “gremlin.”

In order for BART to test its theories, it resorted to shutting down the station. The effort assuaged the gremlin and the crisis disappeared for a fortnight. Jim Allison, one of the spokesperson for BART, revealed that engineers were still unsure whether the problem really came from the substation or not, in spite of the consequent calm. However, the gremlin returned the following week, this time outside the tube. Inexplicable power surges impaired 50 train cars passing through an eastern section of the bay. Despairing officials closed down the track section and ferried passengers past the “cursed” section by bus.

According to spokesperson Alicia Trost, the sudden, high voltage spike which seems to be taking place when the train is specifically traveling over that area of the train tracks, is damaging certain parts of the train car’s propulsion equipment. While there is no risk of safety risk for passengers, they have closed down the section between the two stations more due to a lack of cars that they can spare to the damage than because of public safety concerns. On twitter, BART officials placed the blame on outdated and overtaxed track systems as well as old, continuously patched-up cars citing the need to update the train system for better service in the future.

Read More »