Business

Tuesday, Aug 21 2012 06:06 PM

Worth noting: Chicago company sells stakes in Bakersfield coal plants

By THE BAKERSFIELD CALIFORNIAN

A Chicago company announced Tuesday that it has sold its stakes in two coal-burning power plants in Bakersfield to a Japanese company.

Exelon Corp.'s deal with Tokyo-based IHI Corp. covers five California power plants. The two in Kern -- Rio Bravo Jasmin and Rio Bravo Poso -- are 40-megawatt combined heat and power plants. Terms of the sale were not disclosed.

Exelon acquired a roughly 50 percent stake in both plants when it merged with Baltimore-based Constellation Energy Group Inc. in March.

Exelon recently asked state regulators for a deadline extension to meet greenhouse gas emissions rules while it converted the two plants to a cleaner-burning fuel. It was unclear whether that deadline was granted, and Exelon could not be reached for comment Tuesday.

Bakersfield-based technology company ARRC Technology this week unveiled a data-backup system that it says saves customers the expense of buying new hardware.

ARRC's Back Up and Disaster Recovery solution stores data at off-site facilities for future retrieval. The company monitors the back-up process, which runs as often as every 15 minutes through a proprietary electronic portal.

Patrick James, a Fresno-based men's clothing retailer with a store in Bakersfield, is celebrating 50 years in business.

Founder Patrick Mon Pere Sr. was recently awarded a lifetime achievement award by MR Magazine, a trade publication serving the menswear industry.

The Bakersfield store is located at The Marketplace, 9000 Ming Ave.

Keller Williams Realty Inc., a national real estate company with offices in Bakersfield, won the top ranking in a new J.D. Power and Associates customer satisfaction study.

The company ranked highest in two segments: homebuyers -- in which J.D. Power measured satisfaction with the company's salesperson, office and various services -- as well as home sellers, which also looked at the company's marketing efforts.

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