New Commercial Boilers Presented - Triad Boiler Room Systems by Fisher Capital

Fisher Capital on Boiler Room Equipment, Inc: Triad Boiler Systems creates distinctively tough small-footprint hot water boilers, steam boilers, and radiant heating systems.

All of our boilers use 12 gauge firetubes in compact vessels that suit through very small doorways! Inputs range up to 2,000,000 BTU's. Create a highly efficient system with millions of BTU's by sequencing a string of these modular vessels.

TRIAD's commercial boilers and industrial grade Hot Water Heating, Domestic Hot Water, and Steam boilers are used in a wide variety of applications. Our commercial boilers are used at schools, universities, apartments, hospitals, office buildings, retirement communities, and churches. Industrial uses have included bakeries, smelting operations, food processing, quenching systems, and various heating applications for manufacturing. Triads’ modular boilers and radiant heating systems can be natural gas fired, oil fired, or dual fuel fired. For simplicity of operation and maintenance, all controls on our boilers are well known, off-the-shelf products. There area no proprietary parts on these boilers! This simplicity of operation is part of our philosophy, and an important reason why our customers return to us again and again.

TRIAD has been manufacturing high-quality boilers since 1926, and developed the modular boiler concept with primary/secondary piping, receiving a patent for it in 1967. We put this experience, knowledge, and expertise into every boiler.

We believe in quality - it is the overriding characteristic driving our company. This is why we manufacture extremely rugged, well-designed hot water and steam boilers that can provide decades of dependable service. We welcome your inquiries.

Benefits of Modularity

TRIAD's elegantly simple design maintains consistent water volume where heat is required.

•             Boilers are activated sequentially, drawing water from the main loop into the next hot water boiler until the heating need is meet.

•             firing boilers remaining isolated, so no heated water circulates through cold boilers.

•             During most of the year the unfired boilers provide additional backup.

•             Outdoor temperatures and loop water temperatures are constantly monitored.

Fisher Capital on Boiler Room Equipment, Inc: The efficiency of this design is most apparent during warmer months, when a conventional hydronic heating or steam boiler could still be operating at full capacity.

Primary-Secondary Piping - TRIAD integrates modularity with a single pipe primary-secondary system. TRIAD was the first company to employ a Primary-Secondary concept. It operates with two loops, (i) the primary loop, or building main loop, and (ii) smaller secondary loops off of each hot water boiler, which supply heated water to the primary loop.

Upon a call for heat, the boiler pump begins pushing the return water into the boiler and out through the secondary loop, supplying this hot water up into the primary loop (the main header), where it mixes with the cooler return water from the main loop of the building.

•             Supply and return water are blended, avoiding the need for expensive and unreliable mixing valves commonly used in two pipe systems.

•             The secondary loop isolates each hot water boiler, resulting in a very efficient system that minimizes thermal shock.

Control Panel

TRIAD Boilers can be sequenced by the use of our control panel that provides many attractive features:

•             Temperature set-back when less heat is required, such as nights and weekends.

•             Adjustments for latent heat, to take advantage of hot boiler water that retains heat after the burner shuts down.

•             Outdoor reset based on atmospheric temperatures.

•             Monitoring of return water temperatures to maintain accurate heating output.

It is also very easy to sequence our boilers using the panel of any other major manufacturer.

Packaged Product - Fisher Capital on Boiler Room Equipment, Inc: All TRIAD hot water boilers and steam boilers are fully assembled, packaged products, which offer several advantages over boilers that must be assembled at the jobsite

•             Onsite labor costs are minimized.

•             Quality control is higher at the factory than at the jobsite

•             The ease of installation of a packaged boiler allows for quicker start up.

Benefits of Steel Boilers

Easy to Clean - To maintain boiler efficiency, heating surfaces must be kept clean and free of combustion by-products. All TRIAD heating surfaces, especially the firetubes, are easy to access. It is impossible to clean all the heating surfaces of a cast iron boiler, and what can be reached is difficult to clean.

TRIAD also makes it easy to maintain clean water surfaces. The cleaning of the interior of a cast iron boiler is a major undertaking, and even then only the vertical surfaces can be cleaned. The inability to clean the horizontal surfaces can have a significant impact on operating efficiency.

Easy to Repair - Because of their steel construction, TRIAD hot water and steam boilers can be repaired in the field with minimal disruption. A leak can be permanently welded or the tubes re-rolled with little difficulty. It is impossible to permanently weld a cracked cast iron boiler section or a leaking copper fin-tube boiler. The firetubes are easily accessed through the top and through the firedoor.

Fast Water Circulation - Poor circulation of water within the typical cast iron boiler is very common due to their design limits, while TRIAD's steel hot water boilers provide for faster circulation.

Major Equity Markets 2010: Fisher Capital Management Part 2

The euro-zone economy improved much faster than expected in thesecond quarter of the year. Growth is estimated to have been around the 1% level, the fastest quarterly level for three years; and this has eased the fears about a move into a “double-dip” recession, at least for the moment. But it is a two-speed recovery, with the German economy estimated to have grown by 2.2% during the quarter, the Netherlands economy by 0.9%, and the French economy by 0.6%, but with Spain and Portugal basically unchanged and the Greek economy falling further into recession. With domestic demand weak, it is therefore essential that overseas demand remains buoyant if German exports are going to continue to drive the overall economy forward; but this is now very uncertain, and so growth projections for the rest of this year and for 2011 are still fairly cautious.

However the European Central Bank is maintaining its optimistic view of prospects. Speaking before the latest figures were announced, the chairman, Jean Claude Trichet, argued that the second quarter outturn would be better than expected, that there would also be an encouraging result in the third quarter, and that there was no prospect of a move into a “double-dip” recession.

He also defended the bank’s actions during the recession, suggested that the economy has responded well to those actions, and was anxious to ensure that “perhaps part of the credit could come to the central bank”.

There is an obvious risk that his comments will prove to be premature. Since the latest downgrade in Ireland’s credit rating has provided further evidence that the problems in the European banking system are far from resolved, and that the threat of sovereign debt defaults remains. It is not surprising therefore that markets have been unable to resist the downwards pressure despite the relatively good corporate results from European companies.

The UK market has also fallen sharply over the past month. The UK economy is currently performing better than expected, with consumer spending holding up well so far; and the markets are continuing to give the latest measures by the new UK government to reduce the fiscal deficit the benefit of the doubt. But there are fears that those austerity measures with have a significant effect on growth in the second half of the year, and into 2011, and that corporate activity will be badly affected. The mood amongst investors has therefore become much more cautious.

The latest news on the UK economy has been encouraging. The Office of National Statistics has recently estimated that retail sales volumes were 1.1% higher in July than in the previous month, and 1.3% higher than in July last year, the strongest monthly gain since February; unemployment remains much lower than might have been expected; the latest Purchasing Manager’s index for July confirms that manufacturing activity is continuing to expand; and exports also appear to strong.

There are weaknesses in the housing sector, and apparently some loss of momentum in the services sector, and bank lending remains low; but overall there are hopes that growth in the current quarter will be at reasonable levels. But there are already indications that the austerity measures announced by the government are beginning to have an effect on activity, and so the situation remains very uncertain.

This uncertainty is reflected in the minutes of the latest meeting of the Monetary Policy Committee of the Bank of England. They state that the economy is “on a knife-edge”, with “substantial risks” of a relapse balanced against signs of “gathering momentum” in the recovery. This uncertainty persuaded the majority of the members of the committee that policy should remain unchanged for the present; but the minutes indicated that “the risks were substantial, and that members stood ready to respond in either direction as the balance of risks evolved”. The subsequent Inflation Report from the bank was also a cautious document, with growth forecasts revised lower, primarily because of the expected effects of the austerity measures, and with the governor of the bank, Mervyn King, stressing the need for “continuing monetary stimulus” in the face of the “choppy recovery”. Interest rates are therefore likely to remain low for some considerable time, despite the fact that the inflation rate is well above the bank’s target rate, and so monetary policy will continue to be supportive. But will this be enough to justify the present market level? Global growing is slowing, and this will add to the downward pressures on the economy resulting from the austerity measures as they are introduced. The odds therefore seem to favour further UK market weakness in the near-term, even though we believe that the economic recovery will continue, and eventually lead to higher equity prices.

The Japanese market has also moved lower over the past month. Recent figures have shown that economic growth in Japan slowed very sharply in the second quarter of the year because of weak domestic demand and falling exports; and as a result China has replaced Japan as the world’s second largest economy for the first time. Growth is estimated to have been at a 0.4% annualised rate in the second quarter, after a 4.4% rate in the first three months of the year, and this has increased the fears that the country may once again be slipping back into recession. The dependence on exports has been an important adverse factor, as overseas markets have weakened, and this has encouraged speculation that the Bank of Japan will be forced to intervene in the currency markets to prevent further appreciation of the yen; but even this might not be enough to avoid a recession. In this situation, it is particularly unfortunate that an impasse exists at the political level that is making it extremely difficult for the government to take effective action. The background situation therefore remains very disappointing, and the weakness in the equity market looks set to continue.

Fisher Capital Management Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world. As a full service company Fisher Capital Management Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

Major Equity Markets 2010: Fisher Capital Management Part 1

Sentiment in the equity markets has been steady over the past month. Markets in Europe have been unable to resist downward pressure. The Japanese market is also lower; but there has been resistance amongst the emerging markets in South East Asia that are supported by more favourable economic conditions.

The Chinese authorities are obviously determined to prevent their economy from overheating. The global recovery will therefore only proceed at a very slow pace, and there may well be setbacks along the way, although a move into a “double-dip” recession still seems unlikely. There is also an increased danger of a sovereign debt default by Greece, and possibly even by Ireland. But the swing in sentiment should not go too far. So long as monetary policy remains supportive, the global economic recovery is likely to continue, and this will eventually produce a sustainable improvement in equity prices. Patience will therefore be the most important requirement amongst investors until some of the uncertainties have been resolved.

The Fed is in a very difficult position. The statement after its latest OMC meeting was cautious about economic prospects, conceding that “the pace of recovery in output and in employment has slowed in recent months” and was likely to be “more modest” than anticipated in the near-term. But monetary policy was left basically unchanged at the meeting, perhaps because of the “unusual uncertainty” about prospects, and this caused some disappointment. However there is little doubt that further monetary easing will be introduced if the position continues to deteriorate, because the bank’s main priority is to try to maintain some momentum in the economy. And fiscal policy is also likely to remain supportive, despite the massive size of the existing deficit. Congress has been reluctant to authorise additional spending programmes; but there is intense political pressure ahead of the elections in November, and further programmes seem likely.

The critical question for investors therefore is whether the continued monetary and fiscal support will be enough. They have been prepared to adopt a bullish attitude to the situation, and this mood has been helped by an encouraging flow of corporate earnings results that have often exceeded expectations, and confirmed that the corporate sector has been coping well so far with a difficult situation.

The gloom should not be overdone. So long as monetary policy remains supportive, we believe that the odds favour the continuation of the slow recovery, and that this will eventually produce better market conditions.

Mainland European markets have fallen back sharply over the past month, after the strong rally. There has been evidence of a further improvement in the economic background in the euro-zone, and second quarter corporate results have generally been encouraging; but the signs of weakness in the US economy and the slowdown in China has raised doubts about whether the German export performance that has been providing most of the momentum for the recovery can be maintained; and there have also been renewed concerns about the possibility of debt defaults amongst the weaker member countries of the zone. The markets have therefore been unable to resist downward pressure.

The euro-zone economy improved much faster than expected in the second quarter of the year. Growth is estimated to have been around the 1% level, the fastest quarterly level for three years; and this has eased the fears about a move into a “double-dip” recession, at least for the moment. But it is a two-speed recovery, with the German economy estimated to have grown by 2.2% during the quarter, the Netherlands economy by 0.9%, and the French economy by 0.6%, but with Spain and Portugal basically unchanged and the Greek economy falling further into recession. With domestic demand weak, it is therefore essential that overseas demand remains buoyant if German exports are going to continue to drive the overall economy forward; but this is now very uncertain, and so growth projections for the rest of this year and for 2011 are still fairly cautious.

However the European Central Bank is maintaining its optimistic view of prospects. Speaking before the latest figures were announced, the chairman, Jean Claude Trichet, argued that the second quarter outturn would be better than expected, that there would also be an encouraging result in the third quarter, and that there was no prospect of a move into a “double-dip” recession.

Fisher Capital Management Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world. As a full service company Fisher Capital Management Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

GOLD Business Advertising Associate Unilux State-of-the-art Production: The Boiler Room

Unilux is the country’s first 5 pass forced draft bent tube boiler with absolutely no room for inaccuracy. With more than thirty many years of producing and functional expertise in almost every business requiring boilers, Unilux holds solely as being the most excellent, remarkably designed, best high quality boiler in it’s course. While the product speaks volumes, our success is our people; many with over 25 years at Unilux, we take substantial pride in every unit we manufacture. From immediate response to inquiries, performance data, drawings, product description and assistance with proper selection, everyone at Unilux has one important goal in mind…customer satisfaction. Unilux QA/QC boasts a stringent, internal program that emphasizes employee responsibility to safety, product and quality performance.

Richard Fisher from the Boiler Room: Unilux Innovative Development - Building for all Unilux boilers starts with the vessel. All vessel material is controlled, ASME compliant material. Generous upper and lower drums are joined with large, external downcomer(s) allowing for maximum internal circulation. Tubes are a minimum 1.5” diameter, SA 178 Grade “A” material. Tube sizes up to 2.5” diameter are used for larger boilers. The Unilux housing is the most rigid available. Individual steel panels are manufactured with 11 gauge steel and reinforced by bending and welded stiffeners throughout. Refractory design is exclusive to Unilux. We utilize a three tier pour of different tolerance refractory for ultimate performance. All Unilux refractory is warranted for 5 years as standard. Finished insulated jacket panels are scratch resistant, polyester impregnated powder coat. Thermal losses from housing and jacket are 0.5 percent. The completed enclosure allows for up to +5” water column gas side pressure. All Unilux boilers are available with fuel burning equipment and control systems as desired.

Safety is extremely important at Unilux. Every Unilux boiler continues to be engineered to become the most secure, most effective merchandise obtainable in its class.

At Unilux Boiler Corp., we engineer and manufacture bent water tube boilers of only the finest quality, built by experienced craftsmen and backed by a service history that is second to none. When others decline custom engineered projects, Unilux embraces the challenge with experienced, thought provoking ideas and the ability to assist engineers, contractors and end users with the most efficient, long lasting solutions to effectively meet their needs.

Fisher Capital Management Report Part 2 - The UK Emergency Budget

Fisher Capital Management Report  Part 2- The UK has had an emergency budget and it could have been much

worse. The heavy lifting is being done by a rise in VAT bringing in

£13 billion. On the spending side the cuts are achieved by freezing

public sector pay, indexing state benefits to the CPI rather than the

faster-rising RPI and freezing child benefits. State pensions will be

indexed to the higher of wages or the CPI but the pension age will

be raised to 66 fairly soon.

Interest rates are projected to remain low, with inflation absent;

and it is possible that Quantitative Easing will need to be resumed

but on present prospects this seems unlikely to be necessary.

Another concern is with the regulative proposals. There is an antibank

mentality developing in this coalition government, which is

most unfortunate; much of it seems to emanate from Vince Cable

and the Lib Dems.

Yet a moment’s thought should be enough to convince one that we

need bank credit expansion and a return to competition on the

bank high street in order to foster recovery and enterprise. Ever

tougher bank regulation is what was needed before, at the peak of

expansion, not now in the slough of recession giving way to recovery.

Talk of breaking up banks fails to recognise the natural economics

of banks, which favours scale and risk-spreading. Talk of capping

mortgage lending at modest percentages of income is also unfortunate

when the UK want to see a revival of it’s housing market, now once

again back in the doldrums.

A last area of concern is the state of the labour market. The UK do

have near ‘full employment’ if one discounts the modest temporary

effect of recession. But this only applies to those normally looking

for work.

Fisher Capital Management Report Part 2 - The UK Emergency Budget: There is now a large group of people who are claiming benefits of

various sorts in order to stay out of the labour market. Disability

benefit is one route; another is the having of children in order to

get child benefits and related parenting allowances, with tragic

consequences for some children.

Tightening up of this has been signalled in the budget but this has

happened before, with no proper follow-through.

Another UK labour market problem is the resurgence of union

power as Labour loosened the union laws passed before 1997. One

key loosening was the 12-week rule, which allows workers to breach

their contracts with impunity when on strike until 12 weeks of

strike have occurred. When strikes are designed for short periods

for maximum disruption, this 12 week period can take a long time

to trigger. During it the employing firm is unable to defend itself

by recruiting a different labour force.

Under the pre-1997 legislation firms were able to dismiss workers

in breach of contract, provided they did so in a non-discriminatory

way. This led to a huge reduction in strikes and a large rise in UK

productivity, to the great general benefit.

As we have seen in recent years, certain unions are exploiting this

12-week rule to damage the economy — the classic case has been

the BA dispute where UNITE has persisted in attempting to defend

well-above market wages for cabin crew.

In sum the budget was a decent start in restoring fiscal sanity. But

only a start.

The UK now needs urgent attention to the creation of a proper tax

system with low marginal rates but generating a reliable revenue

source — the two are perfectly compatible. It needs sense and

restraint in regulation. Finally they need to reform their labour

market yet again.

Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning

The share market has come down hard on Fisher & Paykel Appliances - with its shares falling 40 per cent after the company issued a profit warning today.

The whiteware manufacturer's shares, which were worth $2.94 this time last year and worth $1 on Friday, went into free fall and are currently trading at just 60 cents, a 40 cent fall.

Earlier today the company said it expected a net profit of $25 million to $30m, down up to 54 per cent on last year.

Due to the deterioration in the New Zealand dollar, Fisher & Paykel Appliances' total bank debt grew $122 from March last year to $512m at the end of January. It was predicted to be $570m by the end of March.

It is now looking at reviewing its capital structure and alternative sources of capital.

Fisher Capital Equipment Update - Market slams Fisher and Paykel on profit Warning - The market was very concerned the company had to come back with a capital raising, which was unexpected, said Hamilton, Hindin, Greene director Grant Williamson.

The home appliance market had dropped off in all areas Fisher & Paykel exported to and there did not appear to be too many signs of a turnaround in world housing at the moment, he said.

"I think investors are starting to say; how long is it going to be before conditions change for the company? I think that's the biggest concern."

Williamson said Fisher & Paykel Appliances' wares were sold into most new homes but when very few new homes being built it would have a serious effect on their sales.

A 40 per cent drop in share value was a big hit for the share price to take but that was the general state of the market.

"If any company disappoints the market then the market is very harsh on their share price and we have certainly seen that this morning with Fisher & Paykel Appliances."

The company announced it would not proceed with a capital note issue and was looking an alternative source of capital.

The directors were considering the merits of issuing equity, including to a cornerstone investor.

Williamson said he did not believe a capital notes raising would have been particularly well received.

He did not see any short term bounce in the price until there was clarification around the structure of equity raising. That was expected to be announced in early March.

"At the moment there's still a fair degree of selling in the market place, around the 60c level."- NZPA

New Commercial Boilers Presented - Triad Boiler Room Systems by Fisher Capital

Fisher Capital on Boiler Room Equipment, Inc: Triad Boiler Systems creates distinctively tough small-footprint hot water boilers, steam boilers, and radiant heating systems.

All of our boilers use 12 gauge firetubes in compact vessels that suit through very small doorways! Inputs range up to 2,000,000 BTU's. Create a highly efficient system with millions of BTU's by sequencing a string of these modular vessels.

TRIAD's commercial boilers and industrial grade Hot Water Heating, Domestic Hot Water, and Steam boilers are used in a wide variety of applications. Our commercial boilers are used at schools, universities, apartments, hospitals, office buildings, retirement communities, and churches. Industrial uses have included bakeries, smelting operations, food processing, quenching systems, and various heating applications for manufacturing. Triads’ modular boilers and radiant heating systems can be natural gas fired, oil fired, or dual fuel fired. For simplicity of operation and maintenance, all controls on our boilers are well known, off-the-shelf products. There area no proprietary parts on these boilers! This simplicity of operation is part of our philosophy, and an important reason why our customers return to us again and again.

TRIAD has been manufacturing high-quality boilers since 1926, and developed the modular boiler concept with primary/secondary piping, receiving a patent for it in 1967. We put this experience, knowledge, and expertise into every boiler.

We believe in quality - it is the overriding characteristic driving our company. This is why we manufacture extremely rugged, well-designed hot water and steam boilers that can provide decades of dependable service. We welcome your inquiries.

Benefits of Modularity

TRIAD's elegantly simple design maintains consistent water volume where heat is required.

•             Boilers are activated sequentially, drawing water from the main loop into the next hot water boiler until the heating need is meet.

•             firing boilers remaining isolated, so no heated water circulates through cold boilers.

•             During most of the year the unfired boilers provide additional backup.

•             Outdoor temperatures and loop water temperatures are constantly monitored.

Fisher Capital on Boiler Room Equipment, Inc: The efficiency of this design is most apparent during warmer months, when a conventional hydronic heating or steam boiler could still be operating at full capacity.

Primary-Secondary Piping - TRIAD integrates modularity with a single pipe primary-secondary system. TRIAD was the first company to employ a Primary-Secondary concept. It operates with two loops, (i) the primary loop, or building main loop, and (ii) smaller secondary loops off of each hot water boiler, which supply heated water to the primary loop.

Upon a call for heat, the boiler pump begins pushing the return water into the boiler and out through the secondary loop, supplying this hot water up into the primary loop (the main header), where it mixes with the cooler return water from the main loop of the building.

•             Supply and return water are blended, avoiding the need for expensive and unreliable mixing valves commonly used in two pipe systems.

•             The secondary loop isolates each hot water boiler, resulting in a very efficient system that minimizes thermal shock.

Control Panel

TRIAD Boilers can be sequenced by the use of our control panel that provides many attractive features:

•             Temperature set-back when less heat is required, such as nights and weekends.

•             Adjustments for latent heat, to take advantage of hot boiler water that retains heat after the burner shuts down.

•             Outdoor reset based on atmospheric temperatures.

•             Monitoring of return water temperatures to maintain accurate heating output.

It is also very easy to sequence our boilers using the panel of any other major manufacturer.

Packaged Product - Fisher Capital on Boiler Room Equipment, Inc: All TRIAD hot water boilers and steam boilers are fully assembled, packaged products, which offer several advantages over boilers that must be assembled at the jobsite

•             Onsite labor costs are minimized.

•             Quality control is higher at the factory than at the jobsite

•             The ease of installation of a packaged boiler allows for quicker start up.

Benefits of Steel Boilers

Easy to Clean - To maintain boiler efficiency, heating surfaces must be kept clean and free of combustion by-products. All TRIAD heating surfaces, especially the firetubes, are easy to access. It is impossible to clean all the heating surfaces of a cast iron boiler, and what can be reached is difficult to clean.

TRIAD also makes it easy to maintain clean water surfaces. The cleaning of the interior of a cast iron boiler is a major undertaking, and even then only the vertical surfaces can be cleaned. The inability to clean the horizontal surfaces can have a significant impact on operating efficiency.

Easy to Repair - Because of their steel construction, TRIAD hot water and steam boilers can be repaired in the field with minimal disruption. A leak can be permanently welded or the tubes re-rolled with little difficulty. It is impossible to permanently weld a cracked cast iron boiler section or a leaking copper fin-tube boiler. The firetubes are easily accessed through the top and through the firedoor.

Fast Water Circulation - Poor circulation of water within the typical cast iron boiler is very common due to their design limits, while TRIAD's steel hot water boilers provide for faster circulation.