Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Geisel Wins Environmental Award

287 views

Published on

Geisel Mechanical Services was on the of winners of the COSE energy Efficiency Challenge.

Published in: Technology, Business
  • Be the first to comment

  • Be the first to like this

Geisel Wins Environmental Award

  1. 1. W W W . C H R O N I C L E T . C O M Thursday, November 11, 2010 A3 Page STOCK MARKET INDEXES MUTUAL FUNDS GAINERS ($2 OR MORE) DAILY DOW JONES 11,451.53 9,614.32 Dow Industrials 11,357.04 +10.29 +.09 +8.91 +10.36 4,957.21 3,742.01 Dow Transportation 4,851.25 +14.47 +.30 +18.33 +21.65 413.75 346.95 Dow Utilities 403.48 -2.99 -.74 +1.37 +7.31 7,817.25 6,355.83 NYSE Composite 7,747.46 +45.15 +.59 +7.83 +8.27 2,177.58 1,689.19 Amex Market Value 2,141.51 +11.73 +.55 +17.35 +17.52 2,592.94 2,061.14 Nasdaq Composite 2,578.78 +15.80 +.62 +13.65 +19.01 1,227.08 1,010.91 S&P 500 1,218.71 +5.31 +.44 +9.29 +10.94 863.66 676.73 S&P MidCap 858.49 +7.60 +.89 +18.14 +22.30 12,970.39 10,596.20 Wilshire 5000 12,886.32 +68.16 +.53 +11.58 +14.04 745.95 567.98 Russell 2000 734.87 +8.89 +1.22 +17.51 +23.98 52-Week YTD 12-mo High Low Name Last Chg %Chg %Chg %Chg THE MARKET IN REVIEW American Funds BalA m MA 30,718 17.68 +2.9 +12.6/B +3.8/C 5.75 250 American Funds BondA m CI 27,605 12.47 -0.3 +9.5/C +4.1/E 3.75 250 American Funds CapIncBuA mIH 58,470 50.53 +1.6 +9.5/D +5.0/C 5.75 250 American Funds CpWldGrIA mWS 54,945 35.90 +2.5 +8.4/E +5.9/B 5.75 250 American Funds EurPacGrA mFB 39,464 41.89 +2.7 +9.7/C +7.2/A 5.75 250 American Funds FnInvA m LB 31,383 35.72 +4.2 +13.3/B +4.7/A 5.75 250 American Funds GrthAmA m LG 64,096 29.90 +5.2 +12.3/D +3.0/B 5.75 250 American Funds IncAmerA m MA 51,266 16.59 +1.8 +13.2/B +4.6/B 5.75 250 American Funds InvCoAmA m LB 47,546 27.58 +3.8 +10.8/D +2.6/B 5.75 250 American Funds NewPerspA m WS 32,555 28.38 +4.3 +13.0/C +6.7/A 5.75 250 American Funds WAMutInvA m LV 37,596 26.53 +3.1 +12.5/B +1.7/B 5.75 250 Dodge & Cox IntlStk FV 41,949 35.83 +3.3 +12.6/A +6.1/A NL 2,500 Dodge & Cox Stock LV 41,481 103.93 +4.6 +11.2/C -0.1/D NL 2,500 Fidelity Contra LG 58,191 66.82 +6.1 +17.9/B +5.2/A NL 2,500 Fidelity DivrIntl d FB 26,537 30.28 +3.7 +8.4/D +3.7/C NL 2,500 Fidelity GrowCo LG 27,227 79.65 +6.3 +20.6/A +5.6/A NL 2,500 FrankTemp-Franklin Income A m CA 33,023 2.16 +2.0 +15.9/A +5.8/A 4.25 1,000 PIMCO TotRetA m CI 28,883 11.67 -0.1 +10.7/B +8.3/A 3.75 1,000 PIMCO TotRetAdm b CI 35,429 11.67 -0.1 +10.9/B +8.5/A NL 1,000,000 PIMCO TotRetIs CI 147,053 11.67 -0.1 +11.2/B +8.8/A NL 1,000,000 Vanguard 500Adml LB 33,155 112.44 +4.8 +13.8/B +1.9/C NL 10,000 Vanguard 500Inv LB 46,538 112.42 +4.8 +13.6/B +1.9/C NL 3,000 Vanguard InstIdxI LB 50,875 111.70 +4.8 +13.8/B +2.0/C NL 5,000,000 Vanguard InstPlus LB 29,529 111.71 +4.8 +13.8/B +2.0/C NL200,000,000 Vanguard TotIntl d FB 39,442 15.92 +3.1 +10.5/B +5.7/B NL 3,000 Vanguard TotStIAdm LB 35,236 30.51 +5.1 +16.0/A +2.6/B NL 10,000 Vanguard TotStIdx LB 65,975 30.50 +5.1 +15.8/A +2.5/B NL 3,000 Vanguard Welltn MA 28,985 30.80 +2.2 +10.5/D +5.7/A NL 10,000 Total Assets Total Return/Rank Pct Min Init Name Obj ($Mlns) NAV 4-wk 12-mo 5-year Load Invt CA -Conservative Allocation, CI -Intermediate-Term Bond, ES -Europe Stock, FB -Foreign Large Blend, FG -Foreign LargeGrowth, FV -Foreign Large Value, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, MB -Mid-Cap Blend, MV - Mid-Cap Value, SH -Specialty-heath, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar. NYSE 7,747.46 +45.15 AMEX 2,141.51 +11.73 NASDAQ 2,578.78 +15.80 Volume Name Vol (00) Last Chg PwShs QQQ664160 53.72 +.26 Cisco 649091 24.49 +.14 SiriusXM 620254 1.46 -.03 Microsoft 515738 26.94 -.01 Intel 467224 21.04 -.12 MicronT 401958 7.87 -.03 RschMotn 310088 58.44 +3.44 Oracle 271312 28.69 -.05 Level3 222834 1.03 -.02 DryShips 194028 5.15 +.10 MOST ACTIVE ($1 OR MORE) LOSERS ($2 OR MORE) Name Last Chg %Chg Cimatron 2.54 +.76 +42.7 GluMobile 2.24 +.41 +22.4 UranmRs 2.68 +.47 +21.3 Pegasys lf 31.46 +5.07 +19.2 TeslaMot n 29.36 +4.73 +19.2 CommSys 14.44 +2.24 +18.4 EndWve 2.77 +.42 +17.9 Geeknet rs 26.88 +3.98 +17.4 VCG Hld h 2.18 +.32 +17.2 ATA Inc 3.87 +.56 +16.9 Name Last Chg %Chg SmartT gn 8.91 -4.16 -31.8 GreenBcsh 2.57 -1.08 -29.6 ChinAgri s 12.19 -3.26 -21.1 CerusCp 2.50 -.66 -20.9 IndSvAm s 12.31 -3.15 -20.4 InfoSvcs un 3.71 -.81 -17.9 Net1UEPS 10.59 -2.31 -17.9 CarverBcp 3.97 -.82 -17.1 ChiCera wt 2.50 -.50 -16.6 AgFeed 2.62 -.51 -16.3 DIARY Advanced 1,790 Declined 871 Unchanged 124 Total issues 2,785 New Highs 122 New Lows 27 1,946,490,882Volume Name Vol (00) Last Chg GoldStr g 97247 4.74 -.17 NovaGld g 95162 14.59 +.32 NthgtM g 54062 3.03 +.06 NwGold g 53687 8.85 +.32 GrtBasG g 50214 3.11 +.04 DenisnM g 49357 2.74 +.09 Taseko 47105 4.65 -.05 NA Pall g 40986 5.40 +.22 LibertyAcq 40312 10.84 +.15 EndvSilv g 37438 6.76 +.97 MOST ACTIVE ($1 OR MORE) GAINERS ($2 OR MORE) LOSERS ($2 OR MORE) Name Last Chg %Chg EndvSilv g 6.76 +.97 +16.8 CagleA 7.08 +.88 +14.2 PudaCoal 13.54 +1.49 +12.4 HstnAEn 15.88 +1.31 +9.0 TrioTch 5.20 +.39 +8.1 VistaGold 3.18 +.23 +7.8 ChIntLtg n 3.16 +.21 +7.1 Geokinetics 7.25 +.46 +6.8 VirnetX 15.48 +.90 +6.2 StreamGSv 4.15 +.24 +6.1 Name Last Chg %Chg ChiMarFd 5.93 -.82 -12.1 Express-1 2.52 -.30 -10.6 HeraldNB 2.45 -.25 -9.3 GasNatural 9.79 -.94 -8.8 BovieMed 3.75 -.30 -7.4 UnvSecInst 6.26 -.50 -7.4 GSE Sy 3.48 -.21 -5.7 HKN 3.81 -.23 -5.7 OrienPap n 6.90 -.38 -5.2 PacOffPT 4.40 -.23 -5.0 DIARY Advanced 241 Declined 240 Unchanged 35 Total issues 516 New Highs 9 New Lows 4 Name Vol (00) Last Chg Citigrp 4843379 4.42 +.12 S&P500ETF2086673122.10 +.49 BkofAm 1854511 12.57 +.30 FordM 1344015 16.63 +.56 SPDR Fncl1189960 15.34 +.17 iShSilver 744760 26.72 +.54 iShEMkts 642826 48.03 +.35 MGM Rsts588136 13.38 +.38 LVSands 569735 50.00 -2.11 Pfizer 529359 16.83 -.16 MOST ACTIVE ($1 OR MORE) GAINERS ($2 OR MORE) LOSERS ($2 OR MORE) Name Last Chg %Chg FedAgric 15.33 +2.15 +16.3 BJs Whls 47.34 +5.31 +12.6 TataMotors34.30 +3.67 +12.0 MSS&P11 11.96 +1.23 +11.5 AtlasPplH 13.30 +1.28 +10.6 7DaysGp n21.73 +2.07 +10.5 FdAgricA 11.50 +1.07 +10.3 Solutia 20.75 +1.85 +9.8 SouFun n 91.85 +8.08 +9.6 TeamHlth n14.75 +1.27 +9.4 Name Last Chg %Chg Chemspec 6.32 -.88 -12.2 Assurant 35.66 -4.48 -11.2 DeanFds 7.67 -.83 -9.8 MaidenBrd 26.64 -2.37 -8.2 AmOriBio 2.60 -.22 -7.8 DB3xLgUST22.07 -1.88 -7.8 Heckmann 4.01 -.33 -7.6 WtWatch 32.86 -2.31 -6.6 Resolute wt 2.30 -.16 -6.5 STR Hldgs 24.93 -1.62 -6.1 DIARY Advanced 1,868 Declined 1,154 Unchanged 103 Total issues 3,125 New Highs 116 New Lows 15 4,666,837,557Volume 149,472,631 STOCK EXCHANGE HIGHLIGHTS Stock Footnotes: g=Dividends and earnings in Canadian dollars .h= Doe not meet continued- listings tandards lf = Late filing with SEC. n = New in past 52 weeks. pf = Preferred. rs = Stock has undergone a reverse stock split of at least 50 percent within the past year. rt = Right to buy security at a specified price. s = Stock has split by at least 20 percent within the last year. un = Units. vj = In bankruptcy or receivership. wd = When distributed. wi = When issued. wt = Warrants. Mutual Fund Footnotes: b = Fee covering market costs is paid from fund assets. d = Deferred sales charge, or redemption fee. f = front load (sales charges). m = Multiple fees are charged. NA = not available. p = previous day’s net asset value. s = fund split shares during the week. x = fund paid a distribution during the week. Gainers and Losers must be worth at least $2 to be listed in tables at left. MostActives must be worth at least $1. Volume in hundreds of shares. Source: The Associated Press. Sales figures are unofficial. STOCKS OF LOCAL INTEREST YTD Name Ex Div Yld PE Last Chg %Chg YTD Name Ex Div Yld PE Last Chg %Chg AMD NY ... ... 5 7.75 -.16 -19.9 AlcatelLuc NY ... ... ... 3.14 +.05 -5.4 Alcoa NY .12 .9 ... 13.88 +.13 -13.9 AGreet NY .56 2.6 10 21.51 +.57 -1.3 BkofAm NY .04 .3 18 12.57 +.30 -16.5 BobEvans Nasd .80 2.7 14 29.97 +.04 +3.5 CedarF NY .25 ... 59 15.23 +.36 +33.5 CntryLink NY 2.90 6.8 12 42.93 +.65 +18.6 Cisco Nasd ... ... 18 24.49 +.14 +2.3 Citigrp NY ... ... ... 4.42 +.12 +33.5 Darden NY 1.28 2.7 16 48.22 +.85 +37.5 DeanFds NY ... ... 8 7.67 -.83 -57.5 Diebold NY 1.08 3.3 18 32.89 +.27 +15.6 DineEquity NY ... ... 21 50.55 +.83+108.1 DrSCBear rsNY ... ... ... 19.55 -.65 -60.3 DirFnBear NY ... ... ... 10.81 -.41 -44.4 DrxFBull s NY ... ... ... 25.29 +.80 +2.3 EmersonEl NY 1.38 2.5 21 56.07 -.11 +31.6 ExxonMbl NY 1.76 2.5 13 71.13 +.50 +4.3 FifthThird Nasd .04 .3 ... 13.23 +.37 +35.7 FrstPlce Nasd ... ... ... 2.48 -.06 -10.5 FirstEngy NY 2.20 6.2 13 35.66 -.47 -23.2 FstMerit Nasd .64 3.4 19 18.62 +.50 -7.5 FordM NY ... ... 8 16.63 +.56 +66.3 GenElec NY .48 2.9 18 16.55 -.07 +9.4 Goodrich NY 1.16 1.4 20 84.92 -.56 +32.2 Hallibrtn NY .36 1.0 21 34.88 +1.66 +15.9 HeclaM NY ... ... 88 8.76 +.44 +41.7 HomeDp NY .95 3.0 18 31.68 +.21 +9.5 HonwllIntl NY 1.21 2.5 18 48.83 -.19 +24.6 iShJapn NY .16 1.5 ... 10.39 +.12 +6.6 iShSilver NY ... ... ... 26.72 +.54 +61.6 iShChina25 NY .68 1.4 ... 47.24 +.33 +11.8 iShEMkts NY .59 1.2 ... 48.03 +.35 +15.7 iShR2K NY .79 1.1 ... 73.54 +.81 +17.8 Intel Nasd .63 3.0 11 21.04 -.12 +3.1 Invacare NY .05 .2 16 28.30 +.54 +13.5 JPMorgCh NY .20 .5 12 40.62 +.72 -2.4 Keycorp NY .04 .5 ... 8.42 +.18 +51.7 LNB Bncp Nasd .04 .8 8 4.99 +.09 +15.8 LVSands NY ... ... ... 50.00 -2.11+234.7 Limited NY .60 1.9 19 31.80 +.43 +65.3 Lowes NY .44 2.0 17 21.86 +.21 -6.5 MGM Rsts NY ... ... ... 13.38 +.38 +46.7 McDnlds NY 2.44 3.1 18 79.50 +.40 +27.3 MicronT Nasd ... ... 4 7.87 -.03 -25.5 Microsoft Nasd .64 2.4 7 26.94 -.01 -11.6 MorgStan NY .20 .8 10 26.55 +.23 -10.3 NiSource NY .92 5.3 14 17.40 -.08 +13.1 Nordson Nasd .84 1.0 ... 83.01 +.76 +35.7 NorthropG NY 1.88 2.9 10 65.22 -.06 +16.8 Oracle Nasd .20 .7 23 28.69 -.05 +17.0 PNC NY .40 .7 9 57.32 +1.07 +8.6 ParkerHan NY 1.16 1.4 18 80.46 +.63 +49.3 Penney NY .80 2.4 26 32.67 +.48 +22.8 Pfizer NY .72 4.3 9 16.83 -.16 -7.5 PolyOne NY ... ... 14 13.25 +.23 +77.4 PwShs QQQNasd .33 .6 ... 53.72 +.26 +17.4 PrUShS&P NY ... ... ... 25.68 -.23 -26.7 ProUShL20 NY ... ... ... 36.47 -.02 -26.9 ProctGam NY 1.93 3.0 16 64.57 -.24 +6.5 RPM NY .84 3.9 16 21.76 +.17 +7.0 RschMotn Nasd ... ... 11 58.44 +3.44 -13.5 SpdrGold NY ... ... ... 137.24 +1.65 +27.9 S&P500ETF NY 2.31 1.9 ... 122.10 +.49 +9.6 SearsHldgs Nasd ... ... 29 71.99 +.37 -13.7 Sherwin NY 1.44 2.0 17 73.57 +.42 +19.3 SiriusXM Nasd ... ... 73 1.46 -.03+143.3 Smucker NY 1.60 2.5 15 63.06 -.42 +2.1 SprintNex NY ... ... ... 3.94 -.09 +7.7 SPDR Fncl NY .16 1.0 ... 15.34 +.17 +6.5 Steris NY .60 1.7 16 34.63 +.33 +23.8 Synovus NY .04 1.8 ... 2.17 +.16 +5.9 US NGsFd NY ... ... ... 5.85 -.19 -42.0 USSteel NY .20 .4 ... 47.63 +.43 -13.6 Vale SA NY .76 2.3 ... 33.27 -.04 +14.6 WalMart NY 1.21 2.2 14 54.51 -.54 +2.0 WellsFargo NY .20 .7 11 28.58 +.45 +5.9 WendyArby NY .06 1.2 29 4.92 +.15 +4.9 Windstrm Nasd 1.00 7.5 21 13.36 +.34 +21.6 uu uu uu 9,500 10,000 10,500 11,000 11,500 M NJ J A S O 11,000 11,260 11,520Dow Jones industrials Close: 11,357.04 Change: 10.29 (0.1%) 10 DAYS NYMX = New York Mercantile Exchange. CBOT = Chicago Board of Trade. CME = Chicago Mercantile Exchange. NYBT = New York Board of Trade Gold (troy oz., spot) Silver (troy oz., spot) Copper (pound) SPOT Yesterday Week AgoExch Contract Settle Chg COMMODITIES FUTURES Lt Sweet Crude NYMX Dec 10 87.81 +1.09 Corn CBOT Dec 10 566.75 -9.50 Wheat CBOT Dec 10 710 -11.75 Soybeans CBOT Jan 11 1319.50 -9.50 Cattle CME Dec 10 99.40 +1.20 Pork Bellies CME Feb 11 104.50 ... Sugar (world) ICE Mar 11 32.81 -.30 Orange Juice ICE Jan 11 158.00 -3.50 $1399.10 $1409.80 $26.861 $28.902 $3.9660 $4.0395 GM posts 3Q earnings of $2B Dee-Ann Durbin and Tom Krisher The Associated Press DETROIT — Strong profits on new cars and trucks helped General Motors Co. earn $2 bil- lion in the third quarter, enhancing the company's appeal as it nears next week’s initial public stock offering. The third-quarter earnings of $1.20 per share nearly match what GM made in the first two quarters of the year combined, aided by profits from overseas and healthy revenue from North America, the company said Wednesday. Earnings were boosted by higher prices from new models such as the Buick LaCrosse. “I think the results of the third quarter clearly point to the amount of progress that GM has made,” GM CEO Dan Akerson said in a conference call with analysts and media. He said GM is on track to make 2010 its first profitable year since 2004. The results were another indication of a widespread recovery among global automakers. Toyota, Honda, Nissan, Chrysler and Ford all reported improved results in the most recent quarter as auto sales slowly rise. The strong quarter meant that GM met projections it made a week ago that net income for the quarter would be $1.9 billion to $2.1 billion. It was the third-straight prof- itable quarter for GM, which needed $50 billion in U.S. gov- ernment aid to make it through bankruptcy protection last year. The company has repaid or plans to repay taxpayers $9.5 billion, and the government hopes to get back the remain- ing $40 billion with the Nov. 18 common stock offering and several follow-up sales. Also Wednesday, a person briefed on the matter said that Swiss bank UBS is no longer working on the IPO because one of its employees leaked information about it in an unauthorized e-mail. The latest results reversed a $908 million loss, or 73 cents per share. AP FILE General Motors Co. CEO Dan Akerson speaks Oct. 28 in Lansing, MIch. Wendy’s debuts new fries Emily Fredrix The Associated Press NEW YORK — With an eye toward appealing to foodies, Wendy’s is remaking its fries with Russett potatoes, leaving the skin on and sprinkling sea salt on top. Thefast-foodchainhasbeen changing its menu to focus on “real” ingredients to win more fans. The first move in the strategy wasanewlineofsaladssuchas Apple Pecan Chicken in the summer. Now, the fries, which first appear today and roll out over the next two weeks.This is the first major overhaul of the 41-year-old company’s fries, although it has adjusted the recipe in the past. The new fries are slightly slimmer than the old ones, and crispier because they’re smaller. They will have more salt — a medium-sized fry goes from 350 milligrams to 500 mil- ligrams — and calories — add 10 to 420. The selling price will not change, ranging from 99 cents to about $2. The fries will still come to stores frozen. Wendy’s is planning a mar- keting push, including national television ads airing later this month, to highlight the changes. “Wewanteveryingredientto be a simple ingredient, to be one you can pronounce and one your grandmother would recognize in her pantry,” said Chief Marketing Officer Ken Calwell, who declined to say what the Dublin, Ohio, com- pany was spending on the effort. People want more natural foods and they want to know where they come from, he said. Having the skin on is a way to remind people that fries come from potatoes, he said. Testing showed that some people think restaurant french fries are processed foods, he said. The old recipe used a blend of potatoes, not always Russett, but the fries were 100 percent potato. Jenny Barchfield The Associated Press PARIS — It could be the French version of “A Boy Named Sue” — a car named Zoe. A judge ruled Wednesday that automaker Renault can call its new electric car Zoe, much to the chagrin of some French women and girls with that first name. Parents of two children named Zoe Renault had argued in court that their children could end up enduring a life- time of teasing and annoyance — just like the fictional youth named Sue in the famous Johnny Cash song. The families, who are not related to the car company, wanted Renault to choose another name for the model. “There’s a line between liv- ing things and inanimate objects, and that line is defined by the first name,” lawyer David Koubbi said. “We're telling Renault one very simple thing: First names are for humans.” But a judge found against Koubbi’s clients in a fast-track proceeding, ruling that the parents would only have a case it they could prove that naming the car “Zoe” would cause the children “certain, direct and current harm.” Koubbi said he would appeal. He insisted that while it’s clear the Zoe Renaults of the world would be most affected by the release of the car — slated for 2012 — all of France’s estimated 35,000 Zoes would feel the sting. “Can you imagine what little Zoes would have to endure on the playground, and even worse, when they get a little bit older and someone comes up to them in a bar and says, ‘Can I see your airbags?’ or ‘Can I shine your bumper?’ ” Koubbi said. The lawyer said Renault named it the Zoe ZE because of the electric-powered auto’s zero emissions. Koubbi who has represented French celebrity clients, took the case on a pro bono basis. Why? Because his step- daughter’s name is Zoe. A car named Zoe gets court approval AP The Renault Zoe concept car. Geisel wins environmental awardLisa Roberson The Chronicle-Telegram ELYRIA – Helping customers solve their heating, air condi- tioning and plumbing needs for 75 years, Geisel Mechanical Ser- vices knows what it is talking about when it comes to energy efficiency. It is the go-to source for those looking to reduce their water usage, save money on their elec- tric bill or cool their home for less. But recently, the local busi- ness decided to turn the tables on itself. President Andy Culberson said the company had an energy audit conducted on every room, toilet and light fixture and learned that it could do a lot more to make the Broad Street facility more efficient. That was three years ago. Today, Geisel is being com- mended for those efforts by the Council of Smaller Enterprises, which put a challenge out to area small businesses to see what kind of energy efficiency changes they could make in their own businesses. Under terms of the challenge, busi- nesses were encouraged to sub- mit details of energy-efficient projects they’ve implemented overthelastyear.Allentrieswere judged by a panel of energy effi- cient experts. Geisel’s was judged against COSE members from Ashtabula, Cuyahoga,Geauga,Lake,Lorain, Medina, Portage and Summit counties. It won in the goods and services category and received a $2,500 cash prize. COSE representatives pre- sented Geisel with a check Wednesday morning. “Being energy efficient in your business is becoming more and more of a priority for small busi- nesses and these winners exem- plify forward thinkers that are ahead of the curve in this area,” said Steve Millard, president and executive director of COSE. Geisel upgraded its lighting, HVAC systems, air compressors, motors and roofing. It also cut electric consumption by 30 per- cent and its natural gas usage by 45 percent. “Itfeelsgoodtogetrecognized for doing something we have been preaching for 40 years,” Culberson said. “It’s always a lot more credible when you have actually done the same things you have recommended your customers should do. It adds creditability to our mission.” All of the improvements were not done at one time. Culberson said replacements were done in a systematic approach, with him identifying the energy hogs in the building, fixing them and then working backward. It is the same approach resi- dentsandotherbusinessowners shouldusewhentacklingsimilar improves in their homes and businesses, he said. Contact Lisa Roberson at 329-7121 or lroberson@chroniclet.com. STEVE MANHEIM / CHRONICLE Andy Culberson, president of Geisel Heating, Air Conditioning and Plumbing stands under energy-efficient T-5 fixtures at Emerge Inc, installed by Geisel. Curt Anderson and Michelle Conlin The Associated Press NEW YORK — It used to be that every time a bank sold a mortgage, the county land recording office received a fee. It wasn’t much — $30 or so — but then real estate boomed in the 1990s and banks pooled mil- lions of mortgages into securi- ties. One mortgage transaction became a dozen or more, and thetabgrew larger.Sothebanks came up with a way around the fees. And now they are fighting to avoid tens of billions of dol- lars in penalties. In 1997, when the banks’ bur- geoning business in mortgage securities was clashing with the unwieldy nature of written forms, the industry created its own alternative. The banks formed a private company called Mortgage Electronic Reg- istry Systems Inc., or MERS. It has registered more than 65 mil- lion loans. MERS’ owners are all the big mortgage companies. They are all facing a foreclosure- fraud investigation launched by all 50 state attorneys general. Now, three years after the housing crash and two months after allegations that some banks submitted fraudulent documents to foreclosure courts, every aspect of the nation's mortgage machine is under scrutiny. Bypassing fees may cost banks billions

×