Moving and Storage Business News

The News Review:

- Lee Moving & Storage bought by western Va. firm
- racle-Sun Merger Creates New Data Storage Player
- Firms End Key Benefit for Executives
- kla. school districts await gas lawsuit outcome

Lee Moving & Storage bought by western Va. firm
Richmond Times Dispatch
firm | Richmond Times-Dispatch. Premier Transfer and Storage based in Christiansburg acquired Lee Moving & Storage on April 3 and announced the deal yesterday. Terms were not disclosed. Lee has changed its name to Premier and its former president George Calabrese is retiring Premier’s marketing manager Jaime Clark said.

racle-Sun Merger Creates New Data Storage Player
Enterprise Storage Forum
“Now racle is getting into totally new markets in which they have no expertise or history. “racle is more likely to hold on to the entire storage business” Roy added. “Sun bought StorageTek and destroyed the company because of poor execution. But racle has been much better in execution and it is very likely that the current storage group within Sun will have a better opportunity to grow. But the deal could also mean a rocky relationship between racle and other storage players like EMC (NYSE: EMC). “racle and EMC had a very good relationship” said Roy.

Firms End Key Benefit for Executives
Wall Street Journal
advises corporate clients to scrap all tax reimbursements. Gross-ups for golden parachutes are “very expensive for the shareholders” he says and tax payments for perks draw unnecessary attention to pay plans. A growing number of board compensation committees are moving in that direction. So far this year 17 S&P 500 companies have disclosed plans to eliminate or reduce tax reimbursements on golden parachutes — though some curbs cover only future executive employment agreements regulatory filings show. will phase out gross-ups on golden parachutes this year.

kla. school districts await gas lawsuit outcome
Forbes
“They have no property in klahoma. They have no employees in klahoma. They transact no business in klahoma aside from the fact that they had transportation and storage contracts with a (federally) regulated interstate pipeline company which happened to have a storage field located in Woods County. “MGE’s position also is that the gas is moving in the stream of interstate commerce and that while it owns gas in the pipeline system its ownership of gas at any particular location on the system cannot be proved. But the klahoma Supreme Court rejected that argument and concluded that the natural gas itself owned by MGE and other entities is subject to taxation. “Because of the physical properties of natural gas the particular molecules purchased by a shipper and placed into a pipeline cannot be traced” the court wrote in its summary. “That does not and cannot mean the gas has no discernible location or owner.
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