Folsom-based Waste Connections reported improved revenues and a slight drop in net income in the third quarter compared with the same period in 2007.

The trash-hauling firm reported income of $28.3 million, or 41 cents per share, for the quarter ended Sept. 30, compared with 28.7 million, also at 41 cents a share, in the year-ago period.

Quarterly revenue totaled $272.7 million, an 8.7 percent increase over $250.8 million in the third quarter last year.

"Pricing strength and operational improvements continue to help us offset most of the impact of higher fuel costs and a weakening economy," said Ronald J. Mittelstaedtcq, company chairman and chief executive. "While that has been the theme for 2008, we now look ahead and are both encouraged by declining fuel costs and extremely pleased with the building blocks now in place for future growth."

Mittelstaedt referred to the pending purchase of the Washington state-based, solid-waste services firm, Harold LeMay Enterprisescq. Plans to buy LeMay, billed as the largest privately owned solid waste services company in the Pacific Northwest, were announced in Augustcq.

Mittelstaedt called the deal, expected to be finalized in Novembercq, "our largest single transaction with (anticipated annual) revenue of approximately $100 million."

Through nine months, Waste Connections reported revenue of $790 million, an 11.1 percent increase over $710.8 million at the same time last year.Quarterly net income was $77.6 million, or $1.14 per share, compared with $76.3 million, or $1.08 per share, last year.

– Mark Glover

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Sacramento-based Schetter Electric Co. has expanded into the Bay area.

The longtime electrical contractor's Martinez office is the company's first branch location.

Schetter officials said having a large client pool in Alameda, Contra Costa, Santa Clara and Solano counties influenced the expansion.

"(Schetter) has ample resources to establish a new regional office that will enhance our core strengths and solid client base," said president Vince Bernacchi.

The company, one of the largest electrical contractors in the Sacramento region, celebrated its 50th year of operation this year and has a slate of high-profile local projects including Crocker Art Museum, Citizen Hotel and the expansion of the Westfield Galleria in Roseville.

– Darrell Smith

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Hard times have created a speed bump for Tesla Motors, the San Carlos-based electric car manufacturer.

Tesla is laying off employees, delaying production of its second model and appointed Elon Musk, the company's chairman and primary investor, to take over the chief executive duties held by Ze'ev Drori, who will stay with the firm.

Musk announced the changes on Tesla's Web site, citing the economic downturn and credit crunch.

"These are extraordinary times," Musk wrote. "The global financial system has gone through the worst crisis since the Great Depression, and the effects are only beginning to wind their way through every facet of the economy. " … Our goal as a company is to be cash-flow positive within six to nine months."

The company did not disclose how many of its approximately 250 employees will be laid off.

Tesla currently builds the two-seat, zero-emissions Roadster, priced at about $110,000. Production of the new Model S – a sedan designed to travel 200 miles per charge of its lithium-ion battery pack and priced at $60,000 – was supposed to start in late 2010. Instead, it will begin in mid-2011.

Tesla will close its Rochester Hills, Mich., facility that was working on some aspects of the Model S. For now, Tesla will focus on selling its Roadster and powertrains, and the company said it still intends to build a plant and a new headquarters in San Jose.

– Mark Glover