Car Battery Start-Ups Fizzle Wall Street Journal Halfway to a six-year goal of producing 1 million electric and plug-in hybrid vehicles, auto makers have barely produced 50000 cars. The money funded nine battery plantsâ€"scattered across the US from Michigan, to Pennsylvania and Floridaâ€"that have few ... |
Wednesday, May 30, 2012
Car Battery Start-Ups Fizzle - Wall Street Journal
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Tuesday, May 29, 2012
UCD starts big research push - Sacramento Business Journal:
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The university plans to constructthe 200,000-square-foot Genome and Biomedicall Sciences building on campus by 2002. It would housd 25 new full-time faculty members in a new , plus staffg from other departments. And it woulc create 60,000 square feet of new lab Staffing and supporting the program coul costanother $20 million. The projec t represents a new step in the growinf relationship between academics at UCD andarea executives, and a new type of said Charlie Soderquist, a former University of California entrepreneur and head of the Technology Development "This should be a huge boom to the Greater Sacramentop area, the I-80 corridor," he said.
The genomicxs effort helps servethe university's strategic goals of building a public-private link in research and maintaining its standing as a leader in biology, said Larry Hjelmeland, faculty assistanrt to the provost for genomics. A dialogur with businesses is key to meeting these he said, especially with the wealthj of medtech firms in Greater Sacramento. "In this part of the scientifixc world, business carries a significant part of the Hjelmeland said.
"So we need the interfacwe to address which part weshould do, and which part business will do, in the sensde that we should not Working with business: As accesws to the university grows, Soderquist the local economy stands to benefit. Not only does universitty research yield new commercial technologies and but graduate studentsand post-doctorate students in the life sciences may decide to stay in the area and launcn their own start-up companies here. The spin-offs can be big. Researchb begun at Stanford University helped lead to many ofthe high-tecbh businesses located in the Silicon Valley. Best of all, Soderquisrt said, working with business can only help UC Daviw achieveits goals.
A dilemma of where to plac e new UC Davis staff members who are beingrecruited now, before the buildint is even begun, is already pushing the universitgy to look at the resources that business Soderquist noted. "There are active actual discussiones going on about how to partne r with a commercial lab thatdoes (genetic) sequencinv while the building is being built and maybes thereafter," he said.
"It may be more efficient to contractt some of those routineservices Tailor-made: Mark McNamee, dean of the Division of Biological Sciences, said that advancement s in techniques during the 1990s allow researcherzs to study an organism's entire genome -- the full sequencr of its genetic material. This new knowledge changed the way researchersdesign experiments, possibly leadingy to highly individual ways of diagnosing and treatintg a condition. One example of the outcomse is Perceptin, a drug produced by Genentech Inc. of Soutgh San Francisco to treat breast Incertain populations, it in others, it can be toxic.
"That'as the kind of tailoring the biomedical field would like to McNamee said. Final approval pending: The building is not a done Hjelmeland said. The proposal heads to the UC's Boardd of Regents for approvalin December, then to Gov. Gray Davizs for inclusion in thestate budget.
The university plans to constructthe 200,000-square-foot Genome and Biomedicall Sciences building on campus by 2002. It would housd 25 new full-time faculty members in a new , plus staffg from other departments. And it woulc create 60,000 square feet of new lab Staffing and supporting the program coul costanother $20 million. The projec t represents a new step in the growinf relationship between academics at UCD andarea executives, and a new type of said Charlie Soderquist, a former University of California entrepreneur and head of the Technology Development "This should be a huge boom to the Greater Sacramentop area, the I-80 corridor," he said.
The genomicxs effort helps servethe university's strategic goals of building a public-private link in research and maintaining its standing as a leader in biology, said Larry Hjelmeland, faculty assistanrt to the provost for genomics. A dialogur with businesses is key to meeting these he said, especially with the wealthj of medtech firms in Greater Sacramento. "In this part of the scientifixc world, business carries a significant part of the Hjelmeland said.
"So we need the interfacwe to address which part weshould do, and which part business will do, in the sensde that we should not Working with business: As accesws to the university grows, Soderquist the local economy stands to benefit. Not only does universitty research yield new commercial technologies and but graduate studentsand post-doctorate students in the life sciences may decide to stay in the area and launcn their own start-up companies here. The spin-offs can be big. Researchb begun at Stanford University helped lead to many ofthe high-tecbh businesses located in the Silicon Valley. Best of all, Soderquisrt said, working with business can only help UC Daviw achieveits goals.
A dilemma of where to plac e new UC Davis staff members who are beingrecruited now, before the buildint is even begun, is already pushing the universitgy to look at the resources that business Soderquist noted. "There are active actual discussiones going on about how to partne r with a commercial lab thatdoes (genetic) sequencinv while the building is being built and maybes thereafter," he said.
"It may be more efficient to contractt some of those routineservices Tailor-made: Mark McNamee, dean of the Division of Biological Sciences, said that advancement s in techniques during the 1990s allow researcherzs to study an organism's entire genome -- the full sequencr of its genetic material. This new knowledge changed the way researchersdesign experiments, possibly leadingy to highly individual ways of diagnosing and treatintg a condition. One example of the outcomse is Perceptin, a drug produced by Genentech Inc. of Soutgh San Francisco to treat breast Incertain populations, it in others, it can be toxic.
"That'as the kind of tailoring the biomedical field would like to McNamee said. Final approval pending: The building is not a done Hjelmeland said. The proposal heads to the UC's Boardd of Regents for approvalin December, then to Gov. Gray Davizs for inclusion in thestate budget.
Sunday, May 27, 2012
Iran announces new nuke facility ahead of talks - Haaretz
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Iran announces new nuke facility ahead of talks Haaretz By Amir Oren | May.28, 2012 | 2:04 AM The round of nuclear talks in Baghdad had hardly ended Thursday when the delegations went into the start of two days of meetings to prepare for the talks in Moscow three weeks from now. In between, each side will ... |
Saturday, May 26, 2012
Florida City acreage faces foreclosure - South Florida Business Journal:
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million foreclosure lawsuit againsyt the owner of avacant 30-acre site in Florida The sizable troubled loan on a large patch of dirt adds to the woes for the Miami-based bank, which had the highest rate of late and unpai d loans among South Florida-based banks in the first quarter. Premier American Bank had $70.5 millionb in noncurrent loans, or 21.8 percengt of its total loans, as of March 31. On June 5, Premiere American Bank filed a foreclosure actionbagainst Miami-based and managing members Rosa M. Guerra and Rolando A. according to Miami-Dade County Circuiyt Court records. The demand for $4.
2 millionb covers the 30-acre site on the east side of TowereRoad (Southwest 192nd Avenue) on both side s of Palm Drive (Southwest 344th Street) in Florids City. Palm & Towef Investors bought the site in 2006for $5.2 In an area surrounded by farms, the developer soughr approval to boost the residential densitu to as high as 13 units an acre in a comprehensiv e development plan amendment application with Miami-Dade County in 2006. Its applicationj was rejected. Coral Gables-based attorney Helen who represents Premier American Bank inthe lawsuit, did not immediately return a call seeking comment.
This is the second pending foreclosure lawsuit that names Iglesias and one of hisdevelopmengt entities. In January, Miami-based filesd a foreclosure action againsgt Iglesias andPalm & Tower II, III, IV and V That lawsuit concerned a $16.8 million mortgage coveringv an 83.9-acre site in the same area of Florida City wherwe Palm & Tower Investors owns its property.
million foreclosure lawsuit againsyt the owner of avacant 30-acre site in Florida The sizable troubled loan on a large patch of dirt adds to the woes for the Miami-based bank, which had the highest rate of late and unpai d loans among South Florida-based banks in the first quarter. Premier American Bank had $70.5 millionb in noncurrent loans, or 21.8 percengt of its total loans, as of March 31. On June 5, Premiere American Bank filed a foreclosure actionbagainst Miami-based and managing members Rosa M. Guerra and Rolando A. according to Miami-Dade County Circuiyt Court records. The demand for $4.
2 millionb covers the 30-acre site on the east side of TowereRoad (Southwest 192nd Avenue) on both side s of Palm Drive (Southwest 344th Street) in Florids City. Palm & Towef Investors bought the site in 2006for $5.2 In an area surrounded by farms, the developer soughr approval to boost the residential densitu to as high as 13 units an acre in a comprehensiv e development plan amendment application with Miami-Dade County in 2006. Its applicationj was rejected. Coral Gables-based attorney Helen who represents Premier American Bank inthe lawsuit, did not immediately return a call seeking comment.
This is the second pending foreclosure lawsuit that names Iglesias and one of hisdevelopmengt entities. In January, Miami-based filesd a foreclosure action againsgt Iglesias andPalm & Tower II, III, IV and V That lawsuit concerned a $16.8 million mortgage coveringv an 83.9-acre site in the same area of Florida City wherwe Palm & Tower Investors owns its property.
Thursday, May 24, 2012
Red Sox Nation Expects Big Things from Adrian Gonzalez - Fox News
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CBC.ca | Red Sox Nation Expects Big Things from Adrian Gonzalez Fox News "We've asked guys to move around a little bit, guys have stepped up and volunteered to do different things, things that they maybe weren't expecting to do coming into the year," Cherington told NESN. "That's what you need at a time like this when ... Title tal k with Bobby V On Chemistry, The Existence Of Intangibles, and Stability |
Wednesday, May 23, 2012
BSA collects $65K from Huntsville firm - Birmingham Business Journal:
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The BSA, which represents the nation's majorr software manufacturers inpiracy matters, says its attorneyz contacted Corinthian after receiving a reporrt of illegal software use at the The BSA then conductesd an audit, which it says showed Corinthian had more copies of Adober Systems Inc. and Microsoft Corp. software on its computersd than it had licensesto support. "Thiws settlement demonstrates that companies are at risk of becominy a target of a BSA investigation if they do not have an effectivwe software management program in saysBob Kruger, the BSA's vice president of The BSA says Corinthian cooperated fullhy with its investigation.
In additionb to its payment, the company also must deletew anyunlicensed copies, buy replacement software and institut more stringent licensing practices. According to the BSA, nearlt 40 percent of business software in Alabama isunlicensede -- compared with the national figure of 22 percenrt -- costing the stats more than $13 million in annual tax Companies can be fined up to $150,00o0 per infringement.
The BSA, which represents the nation's majorr software manufacturers inpiracy matters, says its attorneyz contacted Corinthian after receiving a reporrt of illegal software use at the The BSA then conductesd an audit, which it says showed Corinthian had more copies of Adober Systems Inc. and Microsoft Corp. software on its computersd than it had licensesto support. "Thiws settlement demonstrates that companies are at risk of becominy a target of a BSA investigation if they do not have an effectivwe software management program in saysBob Kruger, the BSA's vice president of The BSA says Corinthian cooperated fullhy with its investigation.
In additionb to its payment, the company also must deletew anyunlicensed copies, buy replacement software and institut more stringent licensing practices. According to the BSA, nearlt 40 percent of business software in Alabama isunlicensede -- compared with the national figure of 22 percenrt -- costing the stats more than $13 million in annual tax Companies can be fined up to $150,00o0 per infringement.
Monday, May 21, 2012
Martek Biosciences plans appeal of E.U. ruling on infant formula patent - Baltimore Business Journal:
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That was word from the Columbia company Tuesday inregulatorty filings. The patent office in the Hague, Netherlands uphelfd a patent that was granter to the biotech firm in 2007 but was challengexd by food manufacturersand Ltd. The patent offic said Martek’s patent applies to Martek’s nutritional oil in infantr formula, but is not coveredx when it is blended with certain fish oils used ininfang formula. Martek (NASDAQ: MATK) expects the appeal will take one to two year s and said it does not believe the ruling will impactfits revenue. Derived from algae, the company’s nutritiona oils are also used in dietary supplementsa andfood products, such as yogurty and juice.
The companyy has been aggressively expanding its infant formula business overseas as it has nearly saturatedcthe U.S. market. Martek warned in its last earnings statemenrt that its infant formula salews in the third and fourth quarter could drop as retailers trim theidr inventories ofthe product. The company anticipates demanx will pick up infiscal 2010.
That was word from the Columbia company Tuesday inregulatorty filings. The patent office in the Hague, Netherlands uphelfd a patent that was granter to the biotech firm in 2007 but was challengexd by food manufacturersand Ltd. The patent offic said Martek’s patent applies to Martek’s nutritional oil in infantr formula, but is not coveredx when it is blended with certain fish oils used ininfang formula. Martek (NASDAQ: MATK) expects the appeal will take one to two year s and said it does not believe the ruling will impactfits revenue. Derived from algae, the company’s nutritiona oils are also used in dietary supplementsa andfood products, such as yogurty and juice.
The companyy has been aggressively expanding its infant formula business overseas as it has nearly saturatedcthe U.S. market. Martek warned in its last earnings statemenrt that its infant formula salews in the third and fourth quarter could drop as retailers trim theidr inventories ofthe product. The company anticipates demanx will pick up infiscal 2010.
Sunday, May 20, 2012
Jim Farber's Top 10 in Music for May 20 - New York Daily News
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Jim Farber's Top 10 in Music for May 20 New York Daily News 1) Joey Ramone “Ya Know? †The postumously-assembled, second solo album from brother Joey Ramone shows more range than his original minimalist band, even going acoustic (!) Still, it's the singer's trademark, deadpan drawl that gives this disc undying ... |
Friday, May 18, 2012
Regional combine concept catching on - NFL News
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NFL News | Regional combine concept catching on NFL News By Gregg Rosenthal By Gregg Rosenthal The expanded NFL Regional Combine and Super Regional Combine concept is starting to make a bigger impact on NFL rosters. Designed to help talented players get a chance to impress teams that they otherwise wouldn't, ... |
Thursday, May 17, 2012
Coyotes actual attendance left Glendale arena a third empty - Pittsburgh Business Times:
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That left the 17,800-seat Jobing.com Arenqa more than one-third empty during the Coyotesd latest season in which they failed to make the Nationapl HockeyLeague playoffs. The number compares to the team’s reportecd average ticket count ofabouty 14,900 (including giveaways and sales) and average paid ticket salese of 13,000. Such team data is part of Canadian billionairewJim Balsillie's application to buy the team and move it to Ontario. Balsillie, CEO of Blackberry maker Researcbin Motion, has proposed a $213 million deal. The Coyotex are in Chapter 11 bankruptcy The team haslost $316 million sinces moving to the Phoenix market in 1996 from The NHL and city of which owns Jobing.
com Arena, oppose moving the team to Canadz and are battling Balsillie and Moyez in U.S. Bankruptcy Court. Balsillie’s application contendsz that the NHL team is not financially viablew in Phoenix and that the Coyotex lag behind other sportschoice here. The Coyotes attendance is well behindx theaverage 64,100 reported by the Arizonaz Cardinals as well as the Phoenix Suns with 18,400 fans and Arizonw Diamondbacks at 31,000 fans for the most recenf seasons, according to Espn.com. A U.S. Bankruptcy Courft hearing is set for June 9 to focu on whether the team can be moved to Hamiltohn or must stayin Arizona. Balsillie’s offer is the only formak deal put forward forthe Coyotes.
That left the 17,800-seat Jobing.com Arenqa more than one-third empty during the Coyotesd latest season in which they failed to make the Nationapl HockeyLeague playoffs. The number compares to the team’s reportecd average ticket count ofabouty 14,900 (including giveaways and sales) and average paid ticket salese of 13,000. Such team data is part of Canadian billionairewJim Balsillie's application to buy the team and move it to Ontario. Balsillie, CEO of Blackberry maker Researcbin Motion, has proposed a $213 million deal. The Coyotex are in Chapter 11 bankruptcy The team haslost $316 million sinces moving to the Phoenix market in 1996 from The NHL and city of which owns Jobing.
com Arena, oppose moving the team to Canadz and are battling Balsillie and Moyez in U.S. Bankruptcy Court. Balsillie’s application contendsz that the NHL team is not financially viablew in Phoenix and that the Coyotex lag behind other sportschoice here. The Coyotes attendance is well behindx theaverage 64,100 reported by the Arizonaz Cardinals as well as the Phoenix Suns with 18,400 fans and Arizonw Diamondbacks at 31,000 fans for the most recenf seasons, according to Espn.com. A U.S. Bankruptcy Courft hearing is set for June 9 to focu on whether the team can be moved to Hamiltohn or must stayin Arizona. Balsillie’s offer is the only formak deal put forward forthe Coyotes.
Tuesday, May 15, 2012
Adult Swim Orders 8 Pilots, Including a Project From 'Community's' Dan Harmon - Hollywood Reporter
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Hollywood Reporter | Adult Swim Orders 8 Pilots, Including a Project From 'Community's' Dan Harmon Hollywood Reporter Ahead of Adult Swim's upfront party Wednesday night, the Turner-owned network has announced a collection of pilots. Among the younger-skewing net's development projects: an animated Harold & Kumar project and an animated effo rt from Community's Dan ... Adult Swim Puts Animated 'Harold & Kumar' In Development, Greenlights Seven Pilots Cartoon Network's Adult Swim orders eight pilots, including 'Harold & Kumar ... 'Harold & Kumar' animated series among Adult Swim 2012 upfronts |
Monday, May 14, 2012
Northrop gets $30M contract for 'space fence' development - Phoenix Business Journal:
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The new Space Fence is part ofthe U.S. Departmenf of Defense's effort to continually track and detect objects such as space debris and satellitesd in low and mediumearth orbit. Space Fencw will replace the current VHF Air Force Spacre Surveillance System builtin 1961. "The new Space Fencew system will provide better accuracy and faster detectionm while allowing us to increase the number of satellites and othet space objects that can be detected and thus avoiding collision and damage toother satellites," Rich director of special projects at Northrop Grumman's Advanced Concepts and Technology Division, said in a Australia is a candidate for the first Space Fencew location.
Two additional sites in other partws of the world are alsounder consideration. Los Angeles-basecd Northrop (NYSE: NOC) is a defensd and technology company.
The new Space Fence is part ofthe U.S. Departmenf of Defense's effort to continually track and detect objects such as space debris and satellitesd in low and mediumearth orbit. Space Fencw will replace the current VHF Air Force Spacre Surveillance System builtin 1961. "The new Space Fencew system will provide better accuracy and faster detectionm while allowing us to increase the number of satellites and othet space objects that can be detected and thus avoiding collision and damage toother satellites," Rich director of special projects at Northrop Grumman's Advanced Concepts and Technology Division, said in a Australia is a candidate for the first Space Fencew location.
Two additional sites in other partws of the world are alsounder consideration. Los Angeles-basecd Northrop (NYSE: NOC) is a defensd and technology company.
Saturday, May 12, 2012
Indexes: Missouri, Kansas economies still struggle - Houston Business Journal:
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Missouri’s Business Conditions Index was 47.3 in May, up from 46.9 in Aprik and 45.6 in May 2008. This was the eighth-consecutiv e month for which Missouri’s indecx number remained below 50, or growth neutral. “Aa in past months, the state’s large heavy manufacturinbg sector continues to experience weakeconomic conditions,” Creighton University Economics Professor Ernie Goss said in a “On the other hand, nondurable goodx producers reported improving economic conditions. Obviously the speed and success of bankruptcy proceedings among auto manufacturers will have a large impac on the Missouri economy in the months The Kansas Business Conditions Indexwas 30.
2 in May, down from 30.9 in Apri and 42.8 in May 2008. The Kansad index number has been below 50since October. The Mid-America Business Conditions Indexwas 46.6 in May, up from 42.7 in April and down from 49.6 in May 2008. May’zs Midwest index number increased forthe fifth-straight “While our survey is not indicating an economic turnaroundf for the next three to six months, economic indictors are certainly improvin from record lows achieved earlier this year,” Goss “I continue to expect the Mid-America economy to be out of a recessionb by the end of the fourth quarter of this year. Goss also is directoer of Creighton University’s .
Missouri’s Business Conditions Index was 47.3 in May, up from 46.9 in Aprik and 45.6 in May 2008. This was the eighth-consecutiv e month for which Missouri’s indecx number remained below 50, or growth neutral. “Aa in past months, the state’s large heavy manufacturinbg sector continues to experience weakeconomic conditions,” Creighton University Economics Professor Ernie Goss said in a “On the other hand, nondurable goodx producers reported improving economic conditions. Obviously the speed and success of bankruptcy proceedings among auto manufacturers will have a large impac on the Missouri economy in the months The Kansas Business Conditions Indexwas 30.
2 in May, down from 30.9 in Apri and 42.8 in May 2008. The Kansad index number has been below 50since October. The Mid-America Business Conditions Indexwas 46.6 in May, up from 42.7 in April and down from 49.6 in May 2008. May’zs Midwest index number increased forthe fifth-straight “While our survey is not indicating an economic turnaroundf for the next three to six months, economic indictors are certainly improvin from record lows achieved earlier this year,” Goss “I continue to expect the Mid-America economy to be out of a recessionb by the end of the fourth quarter of this year. Goss also is directoer of Creighton University’s .
Thursday, May 10, 2012
Novavax to get capital infusion - Washington Business Journal:
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Rockville-based Novavax, which is developin vaccines for influenzaand HIV, reported a net loss of $11 or 15 cents per share, for the fourtu quarter of 2008 comparede to a net loss of $9.2 million, or 16 centss per share, in the fourth quarter of 2007. For the the company lost $36 million, or 53 cents per share, compareds to a net loss of $34.8 million, or 57 cents per in 2007. Revenue for 2008 was $1.1 million, compared to $1.5 million in 2007 — a drop the companyg attributed to the timing of completinggovernment contracts. Fourth-quarter revenue were $70,000, down from $383,00 0 for the same period in 2007. Research and developmeng costswere $24.3 million in 2008.
The company attributesw the 38 percent increase over 2007 to expensese to support itsvaccine technology. On Tuesday the company also announced a joint venturebetween Ltd. and Novavax in India, whicjh will be owned 80 percent by Cadilaz and 20 percentby Novavax, pendinyg approval of the India Foreignm Investment Promotion Board. vaccine candidate and Cadila’s therapeutic vaccine candidates against cance r as well asits adjuvants, biogeneric and biologicalo diagnostic products within the Indian Cadila will put in approximatelty $8 million over three years to support the joint venture operations, which includes testing and registering products that will be marketed and sold in India.
Novavaxd will be able to negotiate licenser arrangements of certain vaccines developed by the joiny venture for commercialization worldwide outside of Novavax ended 2008with $33.9 million in cash and investmentes compared to $46.5 million at the end of 2007. A wholly-owneds subsidiary of Cadila willbuy 12.5 million sharews of Novavax stock at the market priced of 88 cents per share underr and agreement reached Tuesday. The transactiom is expected to closeAprik 1. Novavax said the $11 millioh equity investment will pay part of its senior convertiblw notes due in July and othercorporate purposes. In January Novavadx had announced its plans tosell 12.
5 million sharews of stock to raise an estimated $25 million, accordinfg to a SEC But that announcement came as the company’ws stock was closing at $1.69 per share. Sharesz have since fallen and closed at 87 cents per share on After Tuesday’s joint venture and capital infusion announcement, Novavax shares jumped 17 percent and closed at $1.012 per share — the first time sharee closed above the $1 mark since Feb. 24. Companhy officials had said in January if they were unable to raise thecapital needed, Novavad could delay or reduce work on its research programs or potentially cut more jobs and costas to stay in business.
It had already slashed 20 percentf of its work force to reduce spending by nearly 20 percentin 2009. “Thisd alliance offers us the potential to acceleratse the development of our product explore promising new vaccine and introduce these products to one ofthe world’s fastest-growingf medical markets,” said Rahul Singhvi, presidenrt and CEO of
Rockville-based Novavax, which is developin vaccines for influenzaand HIV, reported a net loss of $11 or 15 cents per share, for the fourtu quarter of 2008 comparede to a net loss of $9.2 million, or 16 centss per share, in the fourth quarter of 2007. For the the company lost $36 million, or 53 cents per share, compareds to a net loss of $34.8 million, or 57 cents per in 2007. Revenue for 2008 was $1.1 million, compared to $1.5 million in 2007 — a drop the companyg attributed to the timing of completinggovernment contracts. Fourth-quarter revenue were $70,000, down from $383,00 0 for the same period in 2007. Research and developmeng costswere $24.3 million in 2008.
The company attributesw the 38 percent increase over 2007 to expensese to support itsvaccine technology. On Tuesday the company also announced a joint venturebetween Ltd. and Novavax in India, whicjh will be owned 80 percent by Cadilaz and 20 percentby Novavax, pendinyg approval of the India Foreignm Investment Promotion Board. vaccine candidate and Cadila’s therapeutic vaccine candidates against cance r as well asits adjuvants, biogeneric and biologicalo diagnostic products within the Indian Cadila will put in approximatelty $8 million over three years to support the joint venture operations, which includes testing and registering products that will be marketed and sold in India.
Novavaxd will be able to negotiate licenser arrangements of certain vaccines developed by the joiny venture for commercialization worldwide outside of Novavax ended 2008with $33.9 million in cash and investmentes compared to $46.5 million at the end of 2007. A wholly-owneds subsidiary of Cadila willbuy 12.5 million sharews of Novavax stock at the market priced of 88 cents per share underr and agreement reached Tuesday. The transactiom is expected to closeAprik 1. Novavax said the $11 millioh equity investment will pay part of its senior convertiblw notes due in July and othercorporate purposes. In January Novavadx had announced its plans tosell 12.
5 million sharews of stock to raise an estimated $25 million, accordinfg to a SEC But that announcement came as the company’ws stock was closing at $1.69 per share. Sharesz have since fallen and closed at 87 cents per share on After Tuesday’s joint venture and capital infusion announcement, Novavax shares jumped 17 percent and closed at $1.012 per share — the first time sharee closed above the $1 mark since Feb. 24. Companhy officials had said in January if they were unable to raise thecapital needed, Novavad could delay or reduce work on its research programs or potentially cut more jobs and costas to stay in business.
It had already slashed 20 percentf of its work force to reduce spending by nearly 20 percentin 2009. “Thisd alliance offers us the potential to acceleratse the development of our product explore promising new vaccine and introduce these products to one ofthe world’s fastest-growingf medical markets,” said Rahul Singhvi, presidenrt and CEO of
Wednesday, May 9, 2012
Legg Mason's Fetting nets $6.5M in 2009 compensation - Baltimore Business Journal:
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million in total compensation in fiscal the company said in a filing Monday withthe . Fetting was paid $500,009 in salary, $950,000 in bonuses, $3.4 millionj in stock awards, $1,6 million in stocj options andabout $34,000 in othedr compensation for a total of $6.5 million in the year ended March 31, the filingg said. His total compensatiomn was about 39 percent more thanthe $4.7 millio Fetting was paid in fiscal year 2008. Fetting’ s 2009 compensation includes stock awards and options vesting in 2009, some of whicn were awarded in previous years, said Legg spokeswoman Mary Athridge.
In raisint Fetting’s compensation, the company’s board of directors considererd Fetting’s “accomplishments during the year, including his leadershipp during one of the worst financial crised of the last 100 Athridge said inan e-mailed statement. Fetting was credited with helpingb the companyraise $1.15 billion in capital, recruiting new top executives, cuttinv expenses by $135 million and sellingg off billions in structured investmeny vehicles, or SIVs, from the company’s money markeyt funds, Athridge said. Baltimore-based Legg Mason (NYSE:LM) lost $1.9 billion, or $13.
8r5 a share, for the year endeds March 31, as the company saw investorse withdraw money from its funds as the stock market The company took a net lossof $1.4 billioh in disposing of its SIVs and an $863 million non-cash impairment charge during the year. In fiscal year Legg Mason earned $267 million, or $1.87 a share. Fetting’s cash bonus was reduced by nearly $1 milliohn compared with the year before, but his stock awardds went fromabout $936,000 last year to more than $3.4 millionm in 2009, according to the SEC filing. Making more of Fetting’xs pay dependent on the performancd ofLegg Mason’s stock, “aligns his interest with that of Athridge said.
Fetting, who owns or controls 311,411 Legg Mason shares is the company’s third-largest after mutual fund companiesDodge Cox, which owns 8.7 million or 6.2 percent of the and Invesco Ltd., which owns 7.5 million or 5.3 percent of Legg Mason’ws stock. Fetting, in his annual report to which wasreleased Monday, spoke of how difficult it was to steefr an asset manager like Legg Mason through the shoals of the rocky financiaol markets.
“2008 represented one of the most difficult economic periods in modernb financial history and certainly the worst Ihave witnessed,” he Legg Mason’s filing also lists the total compensation of othee top Legg Mason executives including Charles J. Dalety Jr., chief financial officer and treasurere ($2,478,620), David R. senior executive vice ($4,432,122), Joseph A. chief administrative officer ($2,055,883), Peter L. Legg Mason’s former president and Mike Abbaei, former executive vice presidentr ($2,680,135). The company will hold its annuall shareholder meeting in Baltimore onJuly 28.
Shareholderw will vote on the re-electiob of five directors for three-yeadr terms expiring in Robert E. Angelica, 62, a private investor; Barry W. 65, a consultant and retirecd vice chairmanof Deloitte, an accounting and consultint firm; John E. Koerner III, 66, managinyg member of Koerner Capital LLC, a private investment Cheryl Gordon Krongard, 53, a private investor; and Scott C. 36, a partner at Kohlberg, Kravis Roberts & Co., a private equityg firm. The company’s board members receive a base payof $40,00o0 plus $2,000 per meeting after the sixth meetinvg of each year.
million in total compensation in fiscal the company said in a filing Monday withthe . Fetting was paid $500,009 in salary, $950,000 in bonuses, $3.4 millionj in stock awards, $1,6 million in stocj options andabout $34,000 in othedr compensation for a total of $6.5 million in the year ended March 31, the filingg said. His total compensatiomn was about 39 percent more thanthe $4.7 millio Fetting was paid in fiscal year 2008. Fetting’ s 2009 compensation includes stock awards and options vesting in 2009, some of whicn were awarded in previous years, said Legg spokeswoman Mary Athridge.
In raisint Fetting’s compensation, the company’s board of directors considererd Fetting’s “accomplishments during the year, including his leadershipp during one of the worst financial crised of the last 100 Athridge said inan e-mailed statement. Fetting was credited with helpingb the companyraise $1.15 billion in capital, recruiting new top executives, cuttinv expenses by $135 million and sellingg off billions in structured investmeny vehicles, or SIVs, from the company’s money markeyt funds, Athridge said. Baltimore-based Legg Mason (NYSE:LM) lost $1.9 billion, or $13.
8r5 a share, for the year endeds March 31, as the company saw investorse withdraw money from its funds as the stock market The company took a net lossof $1.4 billioh in disposing of its SIVs and an $863 million non-cash impairment charge during the year. In fiscal year Legg Mason earned $267 million, or $1.87 a share. Fetting’s cash bonus was reduced by nearly $1 milliohn compared with the year before, but his stock awardds went fromabout $936,000 last year to more than $3.4 millionm in 2009, according to the SEC filing. Making more of Fetting’xs pay dependent on the performancd ofLegg Mason’s stock, “aligns his interest with that of Athridge said.
Fetting, who owns or controls 311,411 Legg Mason shares is the company’s third-largest after mutual fund companiesDodge Cox, which owns 8.7 million or 6.2 percent of the and Invesco Ltd., which owns 7.5 million or 5.3 percent of Legg Mason’ws stock. Fetting, in his annual report to which wasreleased Monday, spoke of how difficult it was to steefr an asset manager like Legg Mason through the shoals of the rocky financiaol markets.
“2008 represented one of the most difficult economic periods in modernb financial history and certainly the worst Ihave witnessed,” he Legg Mason’s filing also lists the total compensation of othee top Legg Mason executives including Charles J. Dalety Jr., chief financial officer and treasurere ($2,478,620), David R. senior executive vice ($4,432,122), Joseph A. chief administrative officer ($2,055,883), Peter L. Legg Mason’s former president and Mike Abbaei, former executive vice presidentr ($2,680,135). The company will hold its annuall shareholder meeting in Baltimore onJuly 28.
Shareholderw will vote on the re-electiob of five directors for three-yeadr terms expiring in Robert E. Angelica, 62, a private investor; Barry W. 65, a consultant and retirecd vice chairmanof Deloitte, an accounting and consultint firm; John E. Koerner III, 66, managinyg member of Koerner Capital LLC, a private investment Cheryl Gordon Krongard, 53, a private investor; and Scott C. 36, a partner at Kohlberg, Kravis Roberts & Co., a private equityg firm. The company’s board members receive a base payof $40,00o0 plus $2,000 per meeting after the sixth meetinvg of each year.
Monday, May 7, 2012
Weekend box office too close to call - St. Louis Business Journal:
moffaiqohegesa1490.blogspot.com
"Ice Age: Dawn of the Dinosaurs" from Fox and Revenge of the Fallen" from Paramount both projectex the same box office gross for theweekend -- $42,500,00o -- according to , which tracks box-officer revenues. The estimated numbers are from the studioss and are based on estimates from Friday and Saturday and projectionsfor Sunday, the reporg said. "Transformers" was number one at last week's box and "Ice Age" is in its firsty week in theaters. Another new "Public Enemies" from Universal came in third, with an estimates $26,172,000.
Rounding out the top five were Disney'z "The Proposal" and Warner "The Hangover," which brought in an estimateed $12,779,000 and $10,415,000, respectively. also passed Disney/Pixar's "Up" as the top-grossinhg movie of the year, as it has broughg in an estimated $293,459,000, compared to an estimatedf $264,873,000 for "Up." also now has the 31st highes domestic grossall time, according to the
"Ice Age: Dawn of the Dinosaurs" from Fox and Revenge of the Fallen" from Paramount both projectex the same box office gross for theweekend -- $42,500,00o -- according to , which tracks box-officer revenues. The estimated numbers are from the studioss and are based on estimates from Friday and Saturday and projectionsfor Sunday, the reporg said. "Transformers" was number one at last week's box and "Ice Age" is in its firsty week in theaters. Another new "Public Enemies" from Universal came in third, with an estimates $26,172,000.
Rounding out the top five were Disney'z "The Proposal" and Warner "The Hangover," which brought in an estimateed $12,779,000 and $10,415,000, respectively. also passed Disney/Pixar's "Up" as the top-grossinhg movie of the year, as it has broughg in an estimated $293,459,000, compared to an estimatedf $264,873,000 for "Up." also now has the 31st highes domestic grossall time, according to the
Saturday, May 5, 2012
Greeprints: Green soldiers - Washington Business Journal:
moffaiqohegesa1490.blogspot.com
Countless local companies are responsible for speeding up the procession towardenvironmental nirvana. Here are just a few in the faster-movingh retinue to watch in 2009. You’ll probably catch Inc. toward the front of the The Alexandria company got its environmental headstarf fouryears ago, back when “green” for most people described a colo of the rainbow rather than a transformativ e shift in construction.
Calvert-Jones started as an appliancee shop at the time of the Truman tinkering with its business model over the years until it has becomes a commercial mechanical engineering company that specializes in energuy conservation and whose services run the gamu t from energy auditsto air-duct cleaninh to water treatment to light bulb recyclinf to retro-commissioning. Its list of clients runs from Americajn University andto BB&T and CB Richard Elli Group Inc. The recessionn caused Calvert-Jones to scale back on roughly seven positionxslast year, and talk an eighth employee into early This year, the 195-person companyy is positioning itself to ramp back up.
It is talkinbg to military installations such as the Marine Corps basein Va., and the Naval Air Systemd Command in Patuxent, Md., about potential stimulus-funded jobs to replacde heating-and-cooling systems and equipment. But it expectx the bulk of the extra dollars to arrivwe later inthe year. It is awaiting word on bids for $110 milliom worth of projects so far, double its entire annual average for nearly thepast Though, it has collectedd on only $700,000 of it year-to-date. “We’red going to have great thirdf and fourth quarters because the projects will be started by said PresidentStan Peregoy.
“The startup [phase] is the only You just can’t do it nailed arguably its most renowned clienf in the final monthss oflast year: none other than the grand pooh-babh of green building, the . But the Northwesrt D.C. company, which manages energy use green constructionand retrofits, or full properties for commercial buildings, downplaysx that conquest — its Web site doesn’ft even have an announcement — saying each clienf is important.
With customers like the Archdiocese of Goodwill Industries International and the NationalWildlife Federation, that may be But providing property management support for the USGBC’ headquarters helps propel the 20-person, 6-year-old businesss into likely one of its fastest-growinh years. Previously landlord-side brokers, AtSitde embraced the sustainability part of its servic e offerings inlate 2007. So far this the company has boosted its stafr by 25 percent and doubledthe green-buildintg portfolio it is measuring and managing. While increasing acceptance of greejn getssome credit, AtSitse says, so do the sagging revenues of a recession.
“Our messagse is reducing costs and increasing qualityand performance,” said CEO Davot Kapelina. “I think that resonates in any time. That definitelh is resonating right now in somedifficulg times.” Clean energy doesn’t just mean solar panels or windmills to . Sometimeas it really is just aboutt cleanliness. A division of Upper Marlboro-based Daycon Productse Co. Inc., an eco-friendly cleanint products distributor, Penguin Care concentrates on training cleaningh contractors and property managers to putthe earth’x welfare over toxic chemicals in their cleaninhg practices, helping certify them under Green Seal standards.
“National standards for cleaningh arebeing mandated,” said Marion Penguin Care’s executive vice president, who herselft is a certified expert in the Cleaning Industruy Management Standard. “There are a lot of contract s comingout now, RFPs, requiring that cleaning service providers be Greenn Seal-certified.” Stecklow guesses she has been seeint about two such RFPs or contract requirementsx a month in the past year. Before she said, there were none. So look for growty at Penguin Care, up until now prettt much a Stecklow-run shop.
She just hired a second instructore and plans to add four to five more before They will step in front of class sizes that could very well double in thenext year, as interested trainees make inquiriesd from as far as New Jersey, New York and Look for the likelihood of Penguimn Care stepping out of the Daycon nest and standinv on its own independengt — and, yes, happy — corporate feet. If that then so would begin, withinm that perpetual green movement, the marcyh of Penguin Care.
Countless local companies are responsible for speeding up the procession towardenvironmental nirvana. Here are just a few in the faster-movingh retinue to watch in 2009. You’ll probably catch Inc. toward the front of the The Alexandria company got its environmental headstarf fouryears ago, back when “green” for most people described a colo of the rainbow rather than a transformativ e shift in construction.
Calvert-Jones started as an appliancee shop at the time of the Truman tinkering with its business model over the years until it has becomes a commercial mechanical engineering company that specializes in energuy conservation and whose services run the gamu t from energy auditsto air-duct cleaninh to water treatment to light bulb recyclinf to retro-commissioning. Its list of clients runs from Americajn University andto BB&T and CB Richard Elli Group Inc. The recessionn caused Calvert-Jones to scale back on roughly seven positionxslast year, and talk an eighth employee into early This year, the 195-person companyy is positioning itself to ramp back up.
It is talkinbg to military installations such as the Marine Corps basein Va., and the Naval Air Systemd Command in Patuxent, Md., about potential stimulus-funded jobs to replacde heating-and-cooling systems and equipment. But it expectx the bulk of the extra dollars to arrivwe later inthe year. It is awaiting word on bids for $110 milliom worth of projects so far, double its entire annual average for nearly thepast Though, it has collectedd on only $700,000 of it year-to-date. “We’red going to have great thirdf and fourth quarters because the projects will be started by said PresidentStan Peregoy.
“The startup [phase] is the only You just can’t do it nailed arguably its most renowned clienf in the final monthss oflast year: none other than the grand pooh-babh of green building, the . But the Northwesrt D.C. company, which manages energy use green constructionand retrofits, or full properties for commercial buildings, downplaysx that conquest — its Web site doesn’ft even have an announcement — saying each clienf is important.
With customers like the Archdiocese of Goodwill Industries International and the NationalWildlife Federation, that may be But providing property management support for the USGBC’ headquarters helps propel the 20-person, 6-year-old businesss into likely one of its fastest-growinh years. Previously landlord-side brokers, AtSitde embraced the sustainability part of its servic e offerings inlate 2007. So far this the company has boosted its stafr by 25 percent and doubledthe green-buildintg portfolio it is measuring and managing. While increasing acceptance of greejn getssome credit, AtSitse says, so do the sagging revenues of a recession.
“Our messagse is reducing costs and increasing qualityand performance,” said CEO Davot Kapelina. “I think that resonates in any time. That definitelh is resonating right now in somedifficulg times.” Clean energy doesn’t just mean solar panels or windmills to . Sometimeas it really is just aboutt cleanliness. A division of Upper Marlboro-based Daycon Productse Co. Inc., an eco-friendly cleanint products distributor, Penguin Care concentrates on training cleaningh contractors and property managers to putthe earth’x welfare over toxic chemicals in their cleaninhg practices, helping certify them under Green Seal standards.
“National standards for cleaningh arebeing mandated,” said Marion Penguin Care’s executive vice president, who herselft is a certified expert in the Cleaning Industruy Management Standard. “There are a lot of contract s comingout now, RFPs, requiring that cleaning service providers be Greenn Seal-certified.” Stecklow guesses she has been seeint about two such RFPs or contract requirementsx a month in the past year. Before she said, there were none. So look for growty at Penguin Care, up until now prettt much a Stecklow-run shop.
She just hired a second instructore and plans to add four to five more before They will step in front of class sizes that could very well double in thenext year, as interested trainees make inquiriesd from as far as New Jersey, New York and Look for the likelihood of Penguimn Care stepping out of the Daycon nest and standinv on its own independengt — and, yes, happy — corporate feet. If that then so would begin, withinm that perpetual green movement, the marcyh of Penguin Care.
Thursday, May 3, 2012
Study shows San Antonio is nation's best-performing city in recession - Portland Business Journal:
ishinlyuboqemija.blogspot.com
The Washington, D.C.-based think tank has begun analyzing the impac t of the recessionthroughout America’s metropolitan In the first of a series of quarterly MetroMonitofr reports, Brookings ranked San Oklahoma City, Austin, Houston and Dallas as the top five metrop areas in the country in economix performance in the wake of the Brookings ranked the top 100 metropolitan areas based on six key indicators — unemployment rates, wages, gross metropolitan housing prices and foreclosure This initial MetroMonitor report coverse the first quarter of 2009. The five wors metropolitan areas in the country impacted bythe recession, in descendinhg order, are Jacksonville, Fla.
; Lakeland, Fla.; Tampa, Bradenton, Fla.; and Detroit. “Alk metropolitan areas are feeling the effects of this but the distress is notshared equally,” says Alan Berube, research director of the Metropolitan Policy Program at Brookings and co-author of the report. “While some areas of the countryg have experienced only a shallow and may be emerging from therecessiojn already, people living in metro areas that are now performinyg weakest economically should prepare themselves for a long recovery Howard Wial, director of the Metropolitan Economy Initiative at Brookings and another co-author of the report, arguee that the report shows that a national fiscakl and monetary policy will not be enough for stimulating the economy.
“Mangy (metro) areas will need targeted and since states have nofunds available, the federall government will have to step up to fill the Concentrations of industry activity have both helped and hurtws some regional economies during the recession. For example, metropolitanh areas in states with specializations in energy and governmentemployment — such as New Mexico, Oklahoma, Arkansas and Louisiana — have largely been insulateed by the recession.
However, metropolitan areas in states like Michigan and Ohio that depend heavily on the automotive industry have been impacted by the downturn inthe economy, the report San Antonio is home to Randolpg Air Force Base, Fort Sam Houston, Lackland Air Forcs Base and Brooks The 2005 Base Realignment and Closurwe decision alone is providingy a significant economic punch to the Alamo City’z economy through the consolidation of high-paying military healtjh care jobs and more than $2 billion wortg of new construction activity. A separate repor released by LLC outlining the impact of BRAC showef that Fort Sam Houston alone would experiencea 11,500 increasew of personnel.
The Army post will also gain 7.9 milliob square feet of space. Construction activity due to BRAC alone shouldcreate 46,000 construction jobs during the course of the buildin programs, the DiLuzio report showed.
The Washington, D.C.-based think tank has begun analyzing the impac t of the recessionthroughout America’s metropolitan In the first of a series of quarterly MetroMonitofr reports, Brookings ranked San Oklahoma City, Austin, Houston and Dallas as the top five metrop areas in the country in economix performance in the wake of the Brookings ranked the top 100 metropolitan areas based on six key indicators — unemployment rates, wages, gross metropolitan housing prices and foreclosure This initial MetroMonitor report coverse the first quarter of 2009. The five wors metropolitan areas in the country impacted bythe recession, in descendinhg order, are Jacksonville, Fla.
; Lakeland, Fla.; Tampa, Bradenton, Fla.; and Detroit. “Alk metropolitan areas are feeling the effects of this but the distress is notshared equally,” says Alan Berube, research director of the Metropolitan Policy Program at Brookings and co-author of the report. “While some areas of the countryg have experienced only a shallow and may be emerging from therecessiojn already, people living in metro areas that are now performinyg weakest economically should prepare themselves for a long recovery Howard Wial, director of the Metropolitan Economy Initiative at Brookings and another co-author of the report, arguee that the report shows that a national fiscakl and monetary policy will not be enough for stimulating the economy.
“Mangy (metro) areas will need targeted and since states have nofunds available, the federall government will have to step up to fill the Concentrations of industry activity have both helped and hurtws some regional economies during the recession. For example, metropolitanh areas in states with specializations in energy and governmentemployment — such as New Mexico, Oklahoma, Arkansas and Louisiana — have largely been insulateed by the recession.
However, metropolitan areas in states like Michigan and Ohio that depend heavily on the automotive industry have been impacted by the downturn inthe economy, the report San Antonio is home to Randolpg Air Force Base, Fort Sam Houston, Lackland Air Forcs Base and Brooks The 2005 Base Realignment and Closurwe decision alone is providingy a significant economic punch to the Alamo City’z economy through the consolidation of high-paying military healtjh care jobs and more than $2 billion wortg of new construction activity. A separate repor released by LLC outlining the impact of BRAC showef that Fort Sam Houston alone would experiencea 11,500 increasew of personnel.
The Army post will also gain 7.9 milliob square feet of space. Construction activity due to BRAC alone shouldcreate 46,000 construction jobs during the course of the buildin programs, the DiLuzio report showed.
Wednesday, May 2, 2012
U.S. Bank returns TARP money - Tampa Bay Business Journal:
lebexab.wordpress.com
billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcefd its plans to redeem the preferred stocj issued tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasury it intends to repurchaseethe 10-year warrant it had issued alonf with the preferred stock. “The redemptiobn allows our company to return to operatinyg from a position of both independent strength andstrategicd flexibility,” said Richard Davis, the company’s CEO and chairman, in a statement. The Treasuryg in May announcedthat U.S.
Bank which showedr it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’sa capital purchase program. In February he calle the program “lousy” and said the banking industry was pressured to participate inthe
billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announcefd its plans to redeem the preferred stocj issued tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasury it intends to repurchaseethe 10-year warrant it had issued alonf with the preferred stock. “The redemptiobn allows our company to return to operatinyg from a position of both independent strength andstrategicd flexibility,” said Richard Davis, the company’s CEO and chairman, in a statement. The Treasuryg in May announcedthat U.S.
Bank which showedr it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’sa capital purchase program. In February he calle the program “lousy” and said the banking industry was pressured to participate inthe
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