Andeavor To Merge With Marathon Petroleum Corp.
Andeavor and Marathon Petroleum Corp. announced today that they have entered into merger agreement. Marathon will acquire all of Andeavor’s outstanding shares “representing a total equity value of $23.3 billion and total enterprise value of $35.6 billion,” according to a joint statement. The deal is expected to close in the second half of the year. The new headquarters will be located in Findlay, Ohio, and an office will be maintained in San Antonio, Texas. When asked how the merger would impact Southern California operations, Andeavor spokesperson Destin Singleton told the Business Journal: “We are very early in the process for Marathon Petroleum to determine the best approach to running our combined operations. Between the two companies, there is very limited overlap in our field operations.”
Report Assesses Care Impacts Of Community Hospital Closure
A report by the Los Angeles County Emergency Medical Services (EMS) Agency found that the closure of MemorialCare Community Medical Center Long Beach would have a number of negative impacts to the area, including: longer travel times for emergency services; potential delays in pre-hospital emergency care due to EMS personnel being tied up in lengthier patient transports to more distant hospitals; the loss of 30 critical care beds and 29 psychiatric beds; and more. The report is being presented to the L.A. County Board of Supervisors tomorrow. The hospital currently receives nearly 20% of all patients transported by the Long Beach Fire Department, according to the report.
PierPass Members Agree To Truck Appointment Rules
The 12 terminals of the ports of Long Beach and Los Angeles have decided upon common business rules for truck appointment systems as part of changes to the PierPass OffPeak program. As parties to the West Coast Marine Terminal Operators Agreement, the terminals recently decided to alter the OffPeak program by adopting a flat fee structure and truck appointment systems. The new rules include a two-hour appointment window, as well as last shift appointments of 3:30 p.m. for the first shift and 1:30 a.m. for the second shift. The changes are expected to roll out in August. Click here to read more about the new program structure.
Americans’ Personal Income Increased In March
The United States Bureau of Economic Analysis announced today that personal income and disposable personal income increased 0.3% from February to March to $47.8 billion and $39.8 billion, respectively. Personal consumption expenditures increased 0.4% to $61.7 billion. According to the report, the increase in personal income reflects increases in wages and salaries, social security benefits and dividend income.
Free, Three-Day Webinar For Small Businesses
In honor of National Small Business Week, the United States Small Business Administration and the SCORE Association are hosting a three-day virtual conference on topics such as consumer behavior, discrimination and harassment, gaining repeat business, marketing and more. The free conference for small businesses is from 9:30 a.m. to 3 p.m. each day from May 1 to May 3. Click here to register.
Construction Projects On Bellflower Boulevard May Cause Traffic Delays
Construction projects on Bellflower Boulevard, which include a protected bike lane and road resurfacing, are beginning this week between East Atherton Street and Loynes Drive. The projects’ estimated completion date is mid to late May. During daytime hours, at least one lane will be open in each direction. Drivers should expect some delays and backups through the project area, according to a statement from 3rd District Councilmember Suzie Price’s office. Outside of construction hours, at least two lanes will be open in each direction.