April 28, 2023
5 Things to Know: Week Ending April 29
Two agents merge in St. Louis. Massachusetts issues new hospital lighting regulations.
Here's a roundup of some of the week's happenings curated to help lighting people stay informed.
1. St. Louis Agent Merger
In the St. Louis market, LTG Partners is set to merge with Vector Sales effective May 1, 2023. The merger will see the two firms combine their operations while maintaining their existing leadership structure. Al Westwood and Kevin Fernandez will be in charge of the Lighting and DOT sectors, while Ed Romberg and Michelle McCrory will lead the supply and controls divisions.
Vector Sales will continue to operate out of its current two offices. As of next week, all LTG Partners branding is expected to switch over to Vector Sales.
Some key LTG Partners brands:
Some key Vector Sales brands:
- Lutron
- Southwire
- Raco
- American Lighting
2. New Hospital Lighting Regulations in Massachusetts
Inspired by the tragic death of a woman who passed away from an asthma attack outside a hospital in Somerville, Massachusetts, in 2016 at the age of 34, laws have been implemented in the state to ensure improved lighting and wayfinding, so that patients can more easily locate emergency departments and receive prompt medical attention.
Every hospital in Massachusetts received a set of regulations from the Department of Public Health, outlining the steps necessary to enhance safety, accessibility, and eliminate confusion for patients seeking emergency care. These regulations were developed based on recommendations provided by a working group comprising of architects, lighting experts, and a wayfinding expert. Hospitals now have until January 1 to comply.
3. NECA CEO Testifies Before Congress
David Long, CEO of National Electrical Contractors Association (NECA) testified before Congress this week on the issue of independent contractor status. Long highlighted to Members of Congress what he believes to be a detrimental effect of employee misclassification in the construction industry.
4. Rexel and Grainger report quarterly earnings
Rexel posts strong First Quarter
Sales of €4,927.9m in Q1 2023, up +10.1% on a same-day basis
- Positive trends in all geographies, benefiting from strong demand in energy transition activities
- Same-day sales growth supported by both volume increase and increased selling prices
- Sales up +12.6% on reported basis
- Digital sales represented 27.4% of total sales in Q1, up +320 bps
- North America represents 42% of all revenues
Grainger sales increase 12.2%
Grainger reported results for the first quarter of 2023 with sales of $4.1 billion, up 12.2% compared to the first quarter of 2022.
- Generated operating earnings of $680 million, up 27.4%
- Achieved diluted EPS of $9.61, an increase of 36.0%
- Produced $454 million in operating cash flow and returned $229 million to Grainger shareholders through dividends and share repurchases
- Recognized as one of the Fortune 100 Best Companies to Work For® for the second consecutive year
5. Old GE lighting factory now historic landmark
The former General Electric plant in Fort Wayne, Indiana, now known as Electric Works, has been included on the National Register of Historic Places, the nation’s official list of properties considered worthy of preservation.
The 22 buildings in the General Electric Fort Wayne Electric Works Historic District were built in the period of 1893 to 1968. The majority of the historic buildings were built by General Electric in the period from 1907 to 1927. Electric Works traces its origins to the 1880s with the creation of the Fort Wayne Jenney Electric Company, which pioneered an outdoor lighting system called the Jenney Arc Light. General Electric acquired the company in 1898 and eventually transitioned production from lighting to electric motor manufacturing.
