Business Briefs

Posted: Thursday, September 05, 2002

Homer Electric members receive $2 million

Homer Electric Association has mailed approximately $2 million in capital credits to its members. Checks were mailed to 8,989 members on Aug. 22. The capital credits reflect member equity earned during the year 1984.

Capital credits are Homer Electric members' share of equity in the utility. Excess margins remaining after expenses are returned to members according to an equity management plan. As the margins are held, they are being put to use in the cooperative. Margins work toward maintaining, improving and upgrading the electrical system as well as adding new member services.

This year, the Homer Electric board of directors unanimously voted to return equity from the year 1984 in the form of a check. The refund comprises 80 percent of remaining capital credits from 1984.

In the past 10 years, Homer Electric has returned more than $11 million in capital credits to members.

Housing hearing announced

Copies of the draft of Fiscal Year 2002 Annual Performance Report for Housing and Community Development were made available for public comment Tuesday. The report has three parts.

Copies of the draft report may be picked up after Tuesday at Alaska Housing Finance Corporation, 4300 Boniface Pkwy. Anyone having questions regarding the Annual Performance Report, or wanting a copy mailed to them should call AHFC's planning program development department at 330-8277 or 800-478-AHFC (outside Anchorage, but within Alaska). Or visit the Web site at The deadline for public comments is 5 p.m., Sept. 23.

HEA receives National Safety Award

The National Rural Electric Cooperative Association has recognized Homer Electric Association for its commitment to safety. NRECA, which represents more than 1,000 electric utilities across the country, presented Homer Electric General Manager Norm Story with the award at a recent Alaska electric utilities meeting in Sitka.

In accepting the award, Story said safety is a top priority of the cooperative and Homer electric is very proud of its safety record.

In 1986, Homer Electric was the first electric utility in Alaska to successfully complete the national safety accreditation program. Since then, the utility has continued to participate in the program and go through the safety oversight process every three years.

The accreditation process is a rigorous review that seeks to promote the highest standards of safety among electric cooperatives and utilities nationwide.

The accreditation process involves documentation of a utility's records regarding safety policies, procedures, facilities and equipment. After the documents have been reviewed, and inspection team visits the utility to conduct an on-site safety audit of the operation. Finally, the National Accreditation Committee reviews the application and makes a final decision.

Key chains recalled due to choking hazard

WASHINGTON (AP) -- A New Jersey company is recalling about 8,000 ''Bottle Cap Bear'' key chains because a miniature Coca-Cola bottle attached to the plush bear may come off, creating a choking hazard for small children.

Team Beans, of East Brunswick, has not received any reports of injuries or of bottles coming off, the Consumer Product Safety Commission said Wednesday.

The recalled 4-inch key chains feature a plush white bear holding a miniature bottle in its left paw. The bear's outfit features an auto racing theme with a featured driver's racing number printed on the bear's front and the words ''THE COCA-COLA RACING FAMILY'' on the back. Auto racing souvenir shops and collectible stores nationwide sold the key chains from January 2000 through July 2002.

Consumers can return the key chains to Team Beans for a full refund by contacting the company at 1-866-336-5207.

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