New sale divides acquired stores into owned and leased units. TravelCenters of America (TA) has acquired Petro Stopping Centers—some of which for outright ownership, others for leasing. The $700 million deal involved TA’s parent company Hospitality Properties Trust, which purchased 40 Petro fuel stops and leased them to TA for $630 million, according to Land…
sheetz and chase make credit purchases as quick as a blink
New deal leads to the release of the Sheetz MasterCard. Altoona, Pa.-based Sheetz Inc. and Chase Card Services, the credit card division of JP Morgan Chase Co., has launched the enhanced Sheetz MasterCard with “blink.” The card features a more robust rewards program called Sheetz Rewards, which includes the ability to earn everyday essentials,…
ncsa celebrates a busy 2007 annual meeting
The National Confectionery Sales Association (NCSA) has been very busy lately. First was the introduction of eleven candy business leaders into the Candy Hall of Fame. The NCSA selected these candidates after they dedicated their careers to the industry. The 2007 inductees were: Raymond Brace, The Hershey Co.; Allan Dudovitz, Prinsen Distributing; Charles Flavelle, R.C.…
tobacco in the crossfire
Cigarette tax increases in Oregon and Tennessee. Oregon and Tennessee state lawmakers are combating the proposed rate increases on cigarette taxes. Oregon House Republicans are raising questions about using a state cigarette tax to pay for children’s health insurance. In response, Oregon Senate Democrats are turning to voters and proposing a ballot measure under which…
murphy closes 47 stations
Six stores located adjacent to Wal-Mart get the axe. Murphy USA will be closing 47 gas stations, six of which are located near Wal-Mart stores in Iowa. The stores to be shut down include the Waverly, Independence, Marshalltown, Anamosa, Grinnell and Le Mars locations, according to the Associated Press. The company entered an agreement April…
former employees file suit against caseys
Two assistant managers claim the chain owes them for unpaid overtime. Ankeny, Iowa-based Casey’s General Stores Inc. was named in a federal lawsuit with two assistant managers claimed the company refused to pay them overtime. The lawsuit, filed in U.S. District Court in Sioux City, seeks class-action status to compensate anyone who worked as an…
changing of the guard at bp
Conn replaces Manzoni as chief executive of refining and marketing. BP has appointed Iain Conn has been appointed chief executive of the company’s refining and marketing business starting June 1, 2007. He replaces John Manzoni who is leaving BP after 24 years’ service. Manzoni has agreed with the board that, following a three-month handover period,…
chevron gets schooled on biofuels
New partnership with Texas A&M extends research on cellulose conversion. Chevron Corp. and the Texas AM Agriculture and Engineering BioEnergy Alliance have entered a research agreement to accelerate the production and conversion of crops for manufacturing ethanol and other biofuels from cellulose. Chevron unit Chevron Technology Ventures will support research initiatives over a four-year period…
western refining to close giant acquisition
FTC loses lengthy court battle to prevent the refining merger, plans appeal. After a long court battle, Western Refining Inc. won approval of its $1.13 billion purchase of Giant Industries Inc. after a U.S. judge denied the Federal Trade Commission’s (FTC) claim that the merger would increase gasoline prices in New Mexico. U.S. District Judge…
kwik trip encourages safe driving
Chain teams with DriveCam to offer incentives to precautious teen drivers. Kwik Trip Inc. has teamed up with DriveCam, a driver risk management company, to reward teens in Minnesota and Wisconsin who are enrolled in the Teen Safe Driver Program (www.teensafedriver.com). DriveCam developed the Teen Safe Driver Program in conjunction with American Family Insurance to…