TUESDAY, NOV. 13, 2018  |  IN THIS ISSUE 

Story1UTC leases high-profile West Palm Beach office space
 
United Technologies Corp. quietly leased the 18th floor of the west tower of Phillips Point, a high-profile waterfront office complex in West Palm Beach, Florida, earlier this year to house its expanded aerospace division, reports the Palm Beach Post. Rockwell Collins Chairman and CEO Kelly Ortberg, who will assume the role of CEO of Collins Aerospace Systems and recently purchased a $5 million home in Palm Beach County, will work out of the new offices, along with United Technologies Aerospace leader David Gitlin, who will serve as president and CEO when UTC and Rockwell complete their $30 billion merger.
 
The headquarters location for Collins Aerospace is still undecided, reports the Gazette. UTC said in February it will base its avionics and mission control departments in Cedar Rapids, where Rockwell has long been the region's largest private employer. 
P Ethanol, oil producers both singing the blues

Quarterly filings and analyst calls with ethanol producers paint a bleak picture of President Donald Trump's trade war with China and his administration's biofuels management policies, Reuters reports. No. 4 U.S. ethanol producer Green Plains recently reported a $12.5 million third quarter loss, amid a supply glut worsened by China's decision not to import a predicted 200 million gallons of ethanol this year. U.S. ethanol futures of $1.26 per gallon are near the lowest in more than a decade, while stockpiles are close to a record high.

Ethanol producers complain the administration's policies are tilted in favor of the petroleum industry, but oil companies aren't exactly celebrating either. U.S. crude fell for the 11th straight day on Monday, marking the longest losing streak on record, CNBC notes. Crude futures dropped despite signs that OPEC and its allies are moving toward new production cuts to curb global oversupply, a development not welcomed at the White House. "Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!" Mr. Trump tweeted Monday.
Also caught in the the U.S.-China trade war are soybean farmers, who are gambling on storing their perishable crop in hopes of higher prices later on, the Chicago Tribune reports. Crop futures currently point to stronger prices next year, but uncertainty prevails. Stored soybeans can easily take on moisture and rot, especially in giant plastic bags and other temporary storage structures that are in high demand to hold this year's record crop.  
 
As if that weren't enough, vomitoxin, a fungus that thrives in wet conditions, is threatening corn stocks, the Gazette reports, while rising interest rates have ag lenders sounding the alarm about farmers' debt ratios. Farmers are encouraged to write a "one-page recovery plan" for repaying debts and anticipating the effects of changes in commodity prices, Agriculture.com says.

A group of Sears creditors say Chairman Eddie Lampert's bid to keep the legacy retailer alive long enough to sell it is " an unjustified and foolhardy gamble with other people's money" - namely theirs - and would rather see Sears die, reports Bloomberg. Staying in operation to allow a sale would burn through as much as half a billion dollars, which should instead go to creditors, the group argued in a court filing Friday. Sears, which filed for bankruptcy last month, has asked the court to approve a plan that would see it reorganized around a smaller base of profitable stores, Fortune says. Creditors fear those whose debt is not backed by hard assets might not be paid. A hearing on the company's proposal is slated for Thursday.
Story5In epic beer battle, PBR sues to survive
 
Pabst Brewing and MillerCoors are headed to court, with hipster favorite Pabst contending that MillerCoors wants to put it out of business, reports Time. Pabst contends its existence relies on its partnership with Chicago-based MillerCoors, which brews, packages and ships nearly all its products, including Pabst Blue Ribbon, Old Milwaukee, Natty Boy and Lone Star. MillerCoors says it has less capacity for brewing and is not obligated to renew the deal, reports NBC News. The trial will be heard by a jury in Milwaukee County Circuit Court and is expected to last until Nov. 30. In addition to more than $400 million in damages, Pabst is asking for MillerCoors to work "in good faith" to help find a solution. For the sake of cheap beer drinkers everywhere, let's hope they do.
Know it first

Forward the FREE daily CBJ Morning Rush newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters  here, or check out our other subscription options  here. 

See something we missed? Send tips, leads, corrections, etc. to news@corridorbusiness.com.

CommuteYour Morning Commute
Construction season is winding down, but there's still plenty of it out there. Drive with care and give yourself more time as the "w" word arrives. See the most up-to-date information at the DOT's interactive road conditions map here. 
 
Links as of 7 a.m.