dow chemical

Environment
8:01 pm
Tue August 16, 2011

Planning underway for another cleanup of the Tittabawassee River

Few people turned out for a public hearing on the cleanup plan last night in Saginaw.
(photo by Steve Carmody/Michigan Radio)

A major cleanup project along the Tittabawassee River is moving into its final planning stages. It’s a project that presents several challenges.   

Dioxin contamination has been the subject of many cleanup projects in the Tittabawassee River. This new project will focus on other dangerous chemicals, like arsenic, dumped into the river in the past.

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Environment
11:17 am
Wed July 20, 2011

Homeowners who claim land was polluted by Dow must go it alone

Dow Chemical's headquarters in Midland.
wikimedia commons

Back in 2003, more than 150 homeowners got together to file a class action lawsuit against Dow Chemical in Midland.

The homeowners claimed that their property values had dropped because of dioxin pollution released by Dow.

Now, a judge in Saginaw has ruled that the homeowners do not have class-action standing in the lawsuit. If they want to sue Dow for their loss, the homeowners will now have to file individual lawsuits.

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Auto/Economy
11:27 am
Wed July 6, 2011

Dow Chemical teams up to make battery electrolytes

Midland, Mich. (AP) - Dow Chemical Co. and Japanese chemical company Ube Industries Ltd. said Wednesday they've agreed to form a joint venture to manufacture electrolytes for lithium-ion batteries
which are increasingly being used in cars among other things.

The 50-50 joint venture, named Advanced Electrolyte Technologies LLC, is expected to be finalized later this year pending regulatory approval.

Dow said the joint venture will allow it to expand its alternative energy offerings.

"The growing demand for alternative energy production and energy storage systems places technologies such as advanced batteries for electric/hybrid vehicles and power generation at the very center of the global mega-trends," said Heinz Haller, Dow executive vice president and chief commercial officer.

The joint venture's first manufacturing facility is expected to be built at Dow's home base in Midland, Mich. for startup next year.

Environment
12:05 pm
Thu June 9, 2011

What it takes to get a river cleaned up (part 2)

Imerman Park sits on the flood plain of the Tittabawassee River. Signs along the trail warn walkers about dioxin contamination in some of the park's soil.
Photo by Shawn Allee

Dow Chemical polluted the Tittabawassee River with dioxin. Dioxin has been linked to several health issues, including cancer. A comprehensive clean up of the river has barely begun. Dow chemical, the Environmental Protection Agency and the state have wrestled over the cleanup for 30 years.

Michelle Hurd Riddick has spent the last 10 years of her life pushing to get the Tittabawassee River cleaned up.

When she’s not working as a nurse, she has helped file lawsuits against Dow. She religiously attends public meetings about the clean up and follows what the EPA is doing by filing freedom of information requests. And she writes a lot of letters to state and federal officials.

Hurd Riddick is part of an environmental group called the Lone Tree Council. She talked about how she felt as we drove along the river.

“I get frustrated. I get frustrated. There are a number of citizens you know who have hung in on this issue as long as I’ve been on this issue. But not a lot of them. They have to get on with their lives. And I understand that and I respect that.”

The Tittabawassee flows through Hurd Riddick’s hometown of Saginaw before emptying its waters and contaminated sediment into Lake Huron.

Dow did not want to be recorded for this story.

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Environment
4:50 pm
Tue June 7, 2011

Why does it take 40 years to clean up a polluted river?

Advisories warn people of dioxin contamination in the Tittabawassee river. Dow is responsible for releasing dioxin into the river.
Lisa Williams United States Fish and Wildlife Service

The Tittabawassee River has flooded three times already this year. Each time floodwaters carry dirt from the bottom of the river all over yards, basements, fields and parks.

This sediment is contaminated with Dioxin from Dow chemical’s plant in Midland. Dioxin has been linked to a host of health problems including cancer.

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Economy
10:11 am
Mon June 6, 2011

Dow Chemical to form carbon fiber joint venture

NEW YORK (AP) - Dow Chemical Co. says its European subsidiary has agreed to form a joint venture with Turkey's Aksa Akrilik Kimya Sanayii to make carbon fibers.

Strong and lightweight, carbon-fiber based materials are in demand for use in alternative energy projects like wind power.

They're also used in vehicle and infrastructure products. Dow is based in Midland, Mich.

Economy
12:33 pm
Thu April 28, 2011

Business is solid for three Michigan companies

Roger Penske says the first quarter results for the Penske Automotive Group "exceeded my expectations."
Ted Van Pelt Flickr

Three big corporations in Michigan released their first quarter results today and according to the numbers, business is booming.

Dow Chemical exceeds expectations (Midland, Michigan)

The company says "sales rose 20% to $14.7 billion versus the year-ago period, with double-digit increases in all operating segments and all geographic areas."

As Andrew Dodson of Booth-Mid Michigan pointed out, analysts had expected Dow to achieve $13.8 billion in sales.

Dow's earnings before interest, taxes, depreciation and amortization (a measure of a company's operating cash flow) went up more than $600 million to $2.4 billion, "the second highest quarter in the Company's history," according to Dow.

CMS Energy reports net income of $135 million (Jackson, Michigan)

CMS Energy's principal business is Consumers Energy. The Jackson-based company's reported income of $135 million translates into $0.52 per share, for the first quarter of 2011. That's compared to a net income of $85 million, or $0.34 per share, for the same quarter last year.

From the company's press release:

The first quarter results reflect colder than normal winter temperatures that boosted natural gas and electric sales at the company’s Michigan utility, Consumers Energy. Those sales increases partially were offset by costs the utility incurred in restoring service to electric customers after a series of unusually severe winter storms.

Penske Automotive has strong quarter (Bloomfield Hills, Michigan)

Penske Automotive Group Chairman, Roger Penske, said, "our first quarter results exceeded my expectations. I am particularly pleased with the same-store retail revenue growth generated in all lines of our business.

From Businesswire:

[Penske] reported a 51.7% increase in first quarter income from continuing operations attributable to common shareholders to $36.4 million, which compares to income from continuing operations attributable to common shareholders of $24.0 million in the first quarter last year. Earnings per share from continuing operations attributable to common shareholders increased 50.0% to $0.39 per share from $0.26 per share in the first quarter last year. Total revenue in the first quarter increased 15.3% to $2.9 billion, including an 11.6% increase in same-store retail revenues, due in large part to increases in new and used retail vehicle unit sales.

Economy
3:08 pm
Tue March 29, 2011

Dow Chemical accidently pays CEO's personal bills

Dow Chemical admitted this week that the company accidently paid more than $700,000  worth of the company’s CEO’s personal expenses. 

Midland-based Dow Chemical explained in a filing with federal regulators that ‘shortcomings’ in the company’s record keeping led to the company paying $719,000 in bills that CEO Andrew Liveris should have paid himself. The filing with the Securities and Exchange Commission does not detail the expenses inadvertently charged to the company.  

 Liveris took home more than $21 million in compensation last year. A spokesman says he wrote a personal check to reimburse the company.  

 Liveris has been Dow’s CEO since 2004. He’s been the chairman of the board since 2006.

Jennifer Granholm
1:09 pm
Thu March 24, 2011

Former Governor elected to Dow Chemical Board of Directors

Former Michigan governor Jennifer Granholm
(photo by Steve Carmody/Michigan Radio)

Former Michigan Governor Jennifer Granholm has been elected to the board of directors of Dow Chemical. The Midland-based chemicals industry giant announced Granholm's election today.

In a written statement, Dow CEO Andrew Liverus says Granholm will help the company as it pursues growth.  

“Jennifer Granholm’s experience and perspective will be instrumental as we continue to advocate for national and international policies that drive innovation, increase productivity, encourage investments in technology and create jobs." 

This has been a pretty busy week for the former governor. The Pew Charitable Trust announced this week that Granholm will serve as a Senior Advisor to the Trust's Clean Energy Program. She was also recently appointed to a public policy position at the University of California-Berkeley.

Granholm served 8 years as Michigan governor.  Her second term ended in January. 

Business
10:34 am
Thu February 3, 2011

Strong 4th quarter for Dow Chemical

Dow Chemical released its fourth quarter earnings report today and it was a good fourth quarter for the chemical giant. Its earnings nearly tripled. From the company's website:

  • The Company reported earnings of $0.37 per share, or $0.47 per share excluding certain items. This compares with earnings of $0.08 per share in the year-ago period, or $0.18 per share excluding certain items.
  • Sales of $13.8 billion rose 22 percent versus the same quarter last year.

The Wall Street Journal reports:

[Dow Chemical] has seen sales rebound in recent quarters on volume growth in basic chemicals, agriculture products and other units. Dow, whose chemicals are used in a wide range of products including diapers and products in the auto industry, has been restructuring to focus on higher-margin specialty products from commodities chemicals, which are more vulnerable to energy-price fluctuations.

Bloomberg News says the earnings are more than some analysts anticipated and come "amid increasing profit from caustic soda and plastics."

Environment
12:15 pm
Tue January 25, 2011

Dow's partnership with the Nature Conservancy

Dow Chemical corporate headquarters in Midland, Michigan.
User mgreason wikimedia commons

Let's play word association. When I say "Dow Chemical," what's the first word that comes to mind?

It's probably not bunnies or birds, but with it's new partnership with the Nature Conservancy, officials at Dow say they'll begin to take bunnies and birds into consideration when they make business decisions.

Dow called the partnership a "breakthrough collaboration."

The company and its foundation will put up $10 million to fund the five-year project which will "provide strategic, science-based counsel and technical support to help answer questions about the value and benefits of natural areas on or near where Dow works – such as the benefits of a forest to ensuring clean water for towns and factories, and the role natural wetlands and reefs play in preventing damage from storms."

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Economy
2:58 pm
Wed January 19, 2011

Dow chief meets with President Obama and China's President Hu Jintao

Andrew Liveris, CEO of Dow Chemical speaking at the ground breaking of Dow Kokam, an advanced battery manufacturing plant in Michigan.
Dow Chemical

The CEO of Dow Chemical, Andrew Liveris, met with President Obama and China's President Hu this afternoon along with leaders from 17 other businesses in the U.S. and China.

President Obama says he's stressing the importance of  increasing exports to China and increasing investment in the United States, "both critical to supporting millions of American jobs." 

President Obama and President Hu made statements to the press before their meeting. From the press pool report:

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