Newspaper article THE JOURNAL RECORD

The Journal Record Business Briefs: January 26, 2012

Newspaper article THE JOURNAL RECORD

The Journal Record Business Briefs: January 26, 2012

Article excerpt

Magellan Midstream increases distributionTULSA - The board of directors of Magellan Midstream Partners has increased the partnership's quarterly cash distribution to 81.5 cents per unit for the fourth quarter.The distribution is up from 80 cents per unit for the third quarter and 75.75 cents for the fourth quarter of 2010. For 2011, Tulsa-based Magellan declared distributions of $3.17 per unit, up from $2.955 per unit for 2010.The partnership plans to announce fourth-quarter earnings before the market opens on Feb. 7.

Williams adds 3 board membersTULSA - Williams has elected three new members of the board of directors - John Andrew Hagg, Steven W. Nance and Murray D. Smith. The new directors succeed William R. Granberry, George A. Lorch and William G. Lowrie on the Williams board, all of whom resigned and were elected as initial directors of Williams' former exploration and production business, WPX Energy Inc.Williams completed the of WPX Energy at the end of 2011.Hagg, of Calgary, Alberta, is chairman of Strad Energy Services Ltd., chairman of Clark Builders and a director of TMX Group Inc. and The Fraser Institute.Nance, of The Woodlands, Texas, is president and manager of Steele Creek Energy and a director for Cloud Peak Energy Inc.Smith, of Calgary, Alberta, is a member of the energy advisory board of TD Securities Inc., the advisory board of Hatch, a Canada- based global engineering firm, and president of Murray Smith and Associates, which provides advice to clients in the North American energy sector. Beginning March 1, Hagg will serve on the board's audit and finance committees. Nance and Smith will serve on the board's compensation and nominating and governance committees. Williams has 12 members on its board of directors.

Beautiful Brands announces franchise agreementsTULSA - Beautiful Brands International of Tulsa has announced two franchise agreements.Brad Bauer and Francy Bauer have agreed to open 20 Smallcakes A Cupcakery stores in North Carolina. The first store is expected to open this spring in Wilmington, N.C.The 20 stores are expected to open within five years.Beautiful Brands said 18 Smallcakes are open and it has agreements for more than 50 Smallcakes.Founded in Kansas City in 2008 by Jeff Martin and Brandy Martin, Smallcakes A Cupcakery bakes 15 kinds of gourmet cupcakes. The price point per cupcake is $2.89 or $28 per dozen.Beautiful Brands also has a franchise agreement with Ken Peterson to open at least 20 new CherryBerry Self-Serve Yogurt Bars in Illinois and South Dakota.The CherryBerry franchise has 59 stores open and 18 stores under construction.The first CherryBerry unit from the new agreement is expected to open this summer in Bloomington, Ill.

NGL Energy increases distributionTULSA - The board of directors of the general partner of NGL Energy Partners has approved a quarterly cash distribution of 35 cents per unit for the fourth quarter, up from 33. …

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