Thursday, June 30, 2011
Ohio sues three foreclosure rescue firms - Dayton Business Journal:
Cordray’s office said Thursday that it filed lawsuitsagains , LLC and Michael who does business as in the Daytohn area. The state is looking to shut down the operationsin Ohio. The suit against 21st Centurhy Legal Services alleges it promisex to help homeowners restructure loans for a fee ofbetween $1,5009 and $2,600. The company, Cordray’sw office said, told customers to stop making payments on theirt home loans with the expectatiojn that the firm would take care ofthe rest. The statee outlines similar claims against the other two firmebeing sued.
Cordray’s office said it has issued 23 cease-and-desist noticesz to 21st Centuryand Cleveland-based Foreclosure Home Assistance since May. It’s charging each company with a violation of state consumer law and the DebtAdjuster Act, seeking reimbursement for customers and looking to levy a $25,00o penalty for each violation of states law. The state didn’t outline the extent of the complaintsz it received on the A representativefor Cordray’s office wasn’t immediately available to A message seeking comment was left with 21st Centuru Thursday afternoon. Contact informatioh for Foreclosure Assistance andBrothertonh wasn’t available.
Monday, June 27, 2011
American Bio Medica secures $1.5M credit line - Business First of Columbus:
The 3-year agreement with New York City-based providee American Bio Medica (Nasdaq: ABMC) with a $1.5 millio n revolving line of credit. This line replaces one of the N.Y. drug-test kit manufacturer’s previous credit facilities with . That line was for up to About $650,000 of the proceedas from the new line have been used to repayFirsyt Niagara, which is based in N.Y. The rest will be used to provide Americah Bio Medica with increased liquidity for general corporate includingworking capital.
“Given the currentr status of thefinancial markets, we are pleased with the completiohn of this refinancing, and we appreciated the support provided by Rosenthakl and Rosenthal, enabling us to increase the size of our line of credit facility,” said Stan Cipkowski, CEO of American Bio “The additional borrowing capacity will provide the company with acceszs to capital resources enablingt us to weather these difficult economic times, as well as providse resources for our anticipatedd growth in the eventual He said the company now will focu on obtaining new loans to replace its currenft term note and real estatr mortgage with First Niagara.
Thosse credits total about $1
Saturday, June 25, 2011
Farewell to a friend - The Star-Ledger - NJ.com (blog)
Farewell to a friend The Star-Ledger - NJ.com (blog) By Fran Wood/The Star-Ledger I lost a dear friend last week. I hope you'll indulge my using this forum to remember him. F. Gilman Spencer passed away Friday at age 85. He was a veteran journalist, remarkable writer (he wrote a column for The ... |
Thursday, June 23, 2011
Orinda, Octagon plan loft/retail conversion - Minneapolis / St. Paul Business Journal:
Atlanta-based and Charlotteville, Va.-based reported theifr plans for the propertuy at 222Mitchell Street, but they did not discloser financial terms of the deal. The 350,000-square-foot structure was built in stages from 1929 to 1979on 2.1 acrezs and occupies the entire city blocmk bounded by Spring, Forsyth, Mitchell and Nelsonn Streets. Orinda and Octagon will converf the property into a rental buildin with 205 loft units and morethan 70,000p square feet of commerciall space. Occupancy is expected in January 2011.
“The redevelopmentg of 222 Mitchell Streef into rental lofts and retail spacer will play a significant role in the rebirth of this part ofdowntowmn Atlanta,” said Dillon Baynes, presidentg of Orinda, in a statement. “We’re certain that livingb at 222 Mitchell Street will appeal to younfg professionals whowork downtown, as well as to college students, especiallg those who already attendd one of the many fine institutions in the such as Georgia State University, Spelman, Clark Atlanta University and Georgiaq Tech.
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Monday, June 20, 2011
Stratus Building Solutions signs Denver franchisee - St. Louis Business Journal:
The St. Louis-based franchisord of building service and maintenance franchises said the Smiths will own and manage Stratus Building Solutions of Metro Denvert at 7010 Broadwayin Denver. As a masteer franchisee, the Smiths will exclusively offer Stratus Buildingf Solutions franchise units for sale throughout Stratus has awarded franchises in 14 states sincre it was foundedin 2004. The company is headeds by CEO Dennis Jarrett and President Pete Jarrett told the Business Journal that heprojects $25 million in revenuer for the company this year. René Smith is a middl e school science teacher.
Channen Smitu is vice president of consumer solutions service s for RelayHealthin Westminster, Colo. Kreggv Woosley will join Stratus Building Solutiones of Metro Denver asregional director, according to a releasew from the St. Louis-based franchisor. Woosley has held similar posts at othedr franchised commercial cleaning companies and previously ownes and operated a janitorial company basedin
Saturday, June 18, 2011
Live, on camera, a robbery in progress in Newport - Providence Journal
Live, on camera, a robbery in progress in Newport Providence Journal Dispatcher Mathew Joslyn sent Newport police officers to the scene. Then Joslyn watched the scene from afar, remotely directing a traffic camera on Thames Street toward the exterior of Via Via Pizzeria. A pedicab driver was robbed of ... |
Thursday, June 16, 2011
Morris Animal Foundation, Kansas Bioscience Authority talk about possible collaboration - Kansas City Business Journal:
That’s one idea that has emerger in talks between representatives of the andthe Denver-basedc , said Paul Raybould, the foundation’sa vice president of businesas development. The parties are talking aboutt making the Innovation Campus home to a Center of Innovation, which could pump roughl $20 million in KBA money into the effort. Throughu the authority’s Center of Innovation the KBA generally provides researcyh financing to expedite the translation of concepts into marketable The authority has provided money for four centersa inthe state.
KBA CEO Tom Thornto said the partnership being discussed with the Morria Foundation would be a good fit for a Centerd ofInnovation program. “In terms of Thornton said of an animal healthinnovatiojn center, “this is a very important one for Foundation and local life science s officials have been talking for more than a year abouft a partnership. The foundation hopes the area’s animalo health companies can help it commercialize the researchgit finances. Raybould said the foundation plans tospendf $11 million total on research durint the next three years, which will finance abouf 200 studies.
It has a networkk of roughly 1,200 researchers around the worlf studying issues relatedto wildlife, large animald and pets. The market for companion-animal productsa is expected to becomed especially lucrative as pet owners spend more on healtj products for their Raybould said talks between the foundation and the animal healtuh corridor also have identified work force developmenft as akey focus. He said a memorandum of understanding that outlinezs the broad points of an agreement could be approvef byMay 29. “The bits of the puzzlde are allcoming together,” Rayboul d said.
Dan Getman, president of the , said the memorandun will serve mostly as a nonbinding letter of He declined to comment on the specificdRaybould mentioned.
Tuesday, June 14, 2011
Arbitrator imposes contract rejected by Muni workers - San Francisco Chronicle
SanFranciscoSentinel.com | Arbitrator imposes contract rejected by Muni workers San Francisco Chronicle Muni operator Victor Grayson said, "We want to be in the position to do our job without people ... treating us like children." San Francisco -- Muni operators must work under the contract they overwhelmingly rejected last week, an independent ... Arbitrator Upholds Tentative Agreement As Binding Contract For Muni Operators Arbitrator rules in favor of SF transit contract Arbitrator expected to rule on Muni contract |
Saturday, June 11, 2011
Boehringer Ingelheim Unveils Diabetes Pipeline
June 6 /PRNewswire/ -- Boehringer Ingelheim Pharmaceuticals, Inc. todah announced its pipeline of oralantidiabetic compounds, establishing itselfd in the type 2 diabetes therapeuticx area. The Company is investigating compounde in Phase II and Phase III clinicaldevelopmentf worldwide. New Phase II data resultws forlinagliptin (BI 1356), a dipeptidyl peptidase 4 inhibitor and the Company's lead diabetew compound, were presented today at the 69th Annual America Diabetes Association (ADA) Scientific Sessions in New Orleans. To view the multimediaa assets associated with this pleaseclick "Type 2 diabetes is a growing publifc health concern," said J.
Martin Carroll , Boehringerf Ingelheim USA Corporation presidentand CEO. "Our Company will draw from its knowledg and experience to help us deliver on the much neederd treatment options for patients who are living withthe disease. Boehringee Ingelheim is inspired to make a difference indiabetes care." Results from the Phass II study presented at ADA show that 1, 5 and 10 mg doseas of linagliptin achieved clinically relevant and statisticallty significant reductions in HbA1c, a measure of blood when given as add-on therapy to type 2 diabetes patients inadequately controlled on metformibn (placebo-corrected changes from baseline; -0.40 percent for the 1 mg dose, -0.
73 percen t for the 5 mg and -0.67 percent for the 10 mg The most frequently reported adverser events in patients treated with all doses of linagliptin compared to placeboo were nasopharyngitis, (7.1 vs. 9.9 percent) diarrheqa (2.5 vs. 4.2 percent) and nausea (3.5 vs. 4.2 No cases of hypoglycemia were reported in patientsreceivingh linagliptin.(1) "Many patients don't achieve adequates blood sugar control with commonly used diabetes medications like The significant reduction in HbA1c levels seen in this trial is encouraging as it indicates linagliptin may have a potentialo role in the management of this prevalenyt disease," said Dr.
Thor senior vice president, Medicine and Drug Regulatoryt Affairs, Boehringer Ingelheim Pharmaceuticals, Inc. "Type 2 diabetews is a progressive chronic condition that frequentlgyrequires long-term treatment. A range of treatmenrt options and combination regimens are needed so physicians can tailofr therapy to the individualpatient needs. We are now awaitinyg results from additional ongoing studies which will further assess the full potential of linagliptin for the treatmentf of type2 diabetes." DPP-4 inhibitorzs are a newer class of oral hypoglycemicsd that target the incretin hormonea GLP-1 and GIP, whicgh are believed to be involved with regulatinb blood sugar.
(2) Linagliptin is a compounds discovered by Boehringer Ingelheim and is bein developed as an oral once-daily tablet for the treatment of type 2 The compound is currently being studied in five pivotalp Phase III clinical trials including more than 4,000o patients. These trials are fully recruited and underwayu globally and in many states across the Boehringer Ingelheim is alsoinvestigating sodium-dependenr glucose co-transporter-2 inhibitors (SGLT-2 which are a new, emerging clasz of antidiabetic compounds that blockl tubular reabsorption of glucose in the Phase IIb clinical trials for this innovativse approach to diabetes treatment are underway.
There are currentlg no SGLT-2 inhibitors approved by the U.S. Food and Drug Administration The aim ofthe international, randomized, double-blind placebo-controlled study was to assess the efficacyu and safety profile of linagliptin as add-on therapuy in patients with type 2 diabetes who were failingg to achieve glycemic control despiter being treated with metformin.(1) The primary endpoint was the change in HbA1c from baseline to week Out of the 333 randomized patients, 268 patients receivedf double-blind treatment with linagliptinh (1 mg, n=65; 5 mg, n=66; 10 mg, or placebo.(1) An open-label arm with 65 patients on glimepiridre was added for descriptive control.
(1) The additionm of linagliptin to metformin treatment for 12 weekas resulted in clinically relevant and statisticall y significant reductions in HbA1v and fasting blood sugar or fasting plasmaq glucose (FPG) levels (p-values of less than -- Statistically significant reductions in mean HbA1cv levels with linagliptin 5 mg and 10 mg compared with metformin alone (both p<0.001) were observed from week four though week 12.(1) -- In addition, all linagliptin dosew showed significant reductions in FPG levelxs compared with metformin alone (placebo-corrected mean changez from baseline; -19.2 mg/dL for 1 mg, -34.7 mg/do for 5 mg, and -29.0 mg/dpL for 10 mg).
(1) -- In the open-label comparator arm, the placebo-corrected mean changd from baseline in HbA1c was -0.90 -- More than 85% of the patientzs receiving the 5mg and 10mg doses of linagliptinh demonstrated greater that or equal to 80% DPP-4 inhibitio at trough at week 12(1) -- HbA1cf reductions of at leasft 0.5 percent were achieved in 44 percent to 53 percent of patients on linagliptin, but only in 13 percen t of the patients receiving metforminb alone.(1) There are approximately 23.6(5) million Americane and 246 million people worldwide(6) with diabetes.
Type 2 diabetezs is the most common type of diabetes accountintg for morethan 90% of all diabetesa cases in the developed Every ten seconds two peoplde develop diabetes and one person dies from diabetes-relatesd causes around the world.(6) Each year, more than 200,00 0 people in North America(6) and more than 3.8 milliom people worldwide die from diabetes and its complications(6) -- a numbeer which is expected to increase by more than 50 percentt over the next Diabetes is a chronic disease that occurs when the body does not properly produce or use the hormone, To address this unmet Boehringer Ingelheim is committed to researching and developing new compounds in this therapeutic Boehringer Ingelheim Pharmaceuticals, Inc.
Boehringerd Ingelheim Pharmaceuticals, Inc., based in Ridgefield, CT, is the largest U.S. subsidiarty of Boehringer IngelheimCorporation CT) and a member of the Boehringer Ingelheim groul of companies. The Boehringer Ingelheim group is one ofthe world'e 20 leading pharmaceutical Headquartered in Ingelheim, Germany, it operates globallg with 138 affiliates in 47 countries and approximatelyu 41,300 employees. Since it was foundedx in 1885, the family-owned company has been committe dto researching, developing, manufacturing and marketinvg novel products of high therapeutic value for human and veterinary medicine. In 2008, Boehringe Ingelheim posted net sales ofUS $17 billion (11.
6 billioj euro) while spending approximately one-fiftb of net sales in its largest businesws segment, Prescription Medicines, on researchj and development. For more information, please visit . (1) DPP-4 inhibitor linagliptij improves glycaemic control in type 2 diabetes patientss when added to onogoingmetformin ADA, 05-09 June New Orleans, U.S.A. (2) Nathan DM et al. Medicakl Management of Hyperglycemia in Type2 Diabetes: A Consensua Algorithm for the Initiation and Adjustmenyt of Therapy. Diabetes Care 21:1-11, 2008. (3) Available at: . Accessed on: April 30, 2009. (4) Jabbouer SA, et al.
Sodium glucosd co-transporter 2 inhibitors: blocking renal tubular reabsorption of glucose to improved glycaemic control in patientswith diabetes. International Journal of Clinical Practice, July 2008. 62, 8, (5) American Diabetes Association. 2007 Nationa Diabetes Fact Sheet. (6) International Diabetes Federation. Diabetes 3rd edn. Brussels: International Diabetes Federation, 2006. (7) Worl d Health Organization. Fact Sheet No. 312: What is Diabetes?? Available at: . Accessed on: Februarty 4, 2009. SOURCE Boehringer Ingelheim Inc.
Thursday, June 9, 2011
Apple stock down on new iPhone, but no Jobs - Silicon Valley / San Jose Business Journal:
The stock finished trading at $143.85, down 0.57 after being down as more than 3 percentt earlier inthe day. Speculation ahead of the San Francisco event centeredr on if CEO Steve Jobs woulsd make his first appearance since taking medical leave earlier this year and whether the company would unveil its nextgeneration iPhone. Jobs didn't make an but Bloomberg News cited unnamed sources Monday who said that he had been activelyt involved inthe company's preparationh for Monday's conference. The new iPhoner is nearly three times faster to download Web page and comess witha 3-megapixel autofocusd camera. It also has voice-control featuresw and a built-in compass.
The 3GS also has improvex battery life with up to nine hourxon WiFi, 10 hours while watching 30 hours using audio, 12 hours usinhg 2G talk and five houras using 3G talk. It also featurese a new built-in digital compass for instant navigation. The new available in black and white onJune 19, will sell for $199 for a 16GB modelo and $299 for — New versions of the MacBooko Pro. A 15-inch version that starts at $1,699, a lower-pricedr 17-inch that starts at $2,499 and a 13-inch versionh that starts at $1,199. Lower prices for the MacBookoAir ultra-thin line, cutting $700 off the 128GB model to $1,799 and cutting $300 off the base modepl at $1,499.
— A new version of the Mac operating system, Snow Leopard, that is faster to install and takez up 6 gigabytes less hard drive space. The new operating system come with a new version of the Safari Web browser that Apples says is more robust and faster thanpreviousx versions. — New iPhoned software including ability to cut and paste data and an aler t feature that helps users find theidr device or remotely wipe its memory cleanh if it gets stolenm and later restore it using aniTunese backup.
Apple said at the conference that it has now sold more than 40 millionb iPhones and iPod Touches and that users of the devicex have a choice of morethan 50,000 software applications they can download.
Tuesday, June 7, 2011
XcelleNet founder now marketing `green' energy - Atlanta Business Chronicle:
Meanwhile, Dennis Crumpler, the founder of XcelleNet, has kept himselcf busy. He is vice chairman of , a company that markets energyy overthe Internet. The Wyly family -- who put the foundin money into , parent of GreenMountain.com -- is the most significantg investor inSterling Commerce. "A s I was getting to know Sam Wyly betteerlast spring, in the days beforse XcelleNet's deal closed with Sterling Commerce, he asked me if I woulcd look at an energy company that he wanteds to use technology to leverage," Crumpleer said.
Crumpler is working at Green Mountainpart time, thougjh he admits "there's no way to have a part-timse job in a company that's percolatingv the way this one is." Green Mountain recently filed to go public. The company sellz cleaner forms of electricity to consumers overthe "The reason I decided to come off the bench fasterr was because of the environmental angle," Crumpler said. "I felt this was reallgy a place where we can makea difference." Crumplee also is acting as a "buddy and to a number of other local companies, providingb the kind of mentoring that he himself has benefited from, he said.
"You need all the friendz you can trustwhen you're the CEO, especiallty of a high-growth public company," Crumpler recalling a number of individuals who had advisedx him when he was "growing up." "I'm learning to play that role and findingg that it fits pretty Crumpler, who has two children, has been stayinfg close to home. "I've rejoinec my family with a vengeance," the 46-year-olxd said. His goal is to take one to two educational tripsw with the kidsevery quarter, he said. So far, the familyy has gone to Mexico's Copper Canyon and lived with the Tarahumara Indians fortwo weeks.
They spent Christmas in they have beento Hawaii, and they have takeb a cruise in California to pet whales. New Muninn Technologies LLC, founded by Georgia Tech professoerAnindya Datta, has raised an initial round of seed capital and recruitedx Lang Lowrey as its executive chairman. Lowrey formerlyh was CEO and chairma n ofAnacomp Inc., a $2.1 billion electronic storaged company. Muninn develops data warehousestorags software. Datta is also the head of Georgiaq Tech's new e-commerce center, which the universityg announced onApril 21. Weaving the Web. Definitiobn 6 Inc., an Atlanta-based interactive marketing firm, has enterede the carpet market.
The agency has createfd Web sites for carpet manufacturers MohawjIndustries Inc. and S&S Definition 6 has reached billingsof $3 million and has 32 The company was founded in 1997. Schook Boom. The two campuses of Atlanta's DeVry Instituter of Technology are buzzing with TheAlpharetta campus, opened in 1997, now has 950 The Decatur campus, in its 30th year, is at capacityu with close to 3,0009 students. Both campuses have seen an increase inolder students, as managers are returning to school to be retrained. Interestingly, DeVry has found that many of these students are looking forseconxd bachelor's degrees, rather than a EVENTS.
The Advanced Technology Development Center will host its annual spring open house on May 12 at2 p.m. RSVP to 894-5217. ... King & Spalding and Arthurr Andersen LLP will offer a seminarcalled "Maximum a chance to discuss questions and concernsz about the emerging business environment, on May 13. Schedulef speakers include MonarchCapitalp Partners' Rob Guyton; The Robinson-Humphreyy Co.'s Charles Ogburn; Premierew Technologies Inc.'s Boland Jones; Manhattan Associates Inc.'s Michaelo Casey; and Shereef Nawar, the founder of Tech Discover Group and the former chiegf technology officer of XcelleNet. Call (404) 572-559 for registration information.
Saturday, June 4, 2011
Fontainebleau's Soffer caught by Lehman Bros. bankruptcy - Kansas City Business Journal:
“When the retail division of the project lost accessd to fundingthrough Lehman, it was unable to repauy the resort for its sharer of costs,” said Scott Baena, of Bilzin Sumber Baena Price Axelrod, who represents Fontainebleau Las Vegasd LLC in the bankruptcy. “That put enormouzs stress on theresort entity, and that was the beginning of the Fontainebleau Las Vegas LLC and two of its affiliatesa filed bankruptcy petitions in Miami late The Fontainebleau Miami Beach is not includedx in the filing.
Soffer, also principal with Turnberry construction anddevelopmenrt companies, has partial, personal guarantees on portionx of the retail component of the Las Vegas but those portions are not in bankruptcy yet, Baena The complex is 70 percent Since December 2008, Lehman refused to make any advancees under the project’s $315 million construction according to a motio n to maintain cash managemeny filed in the bankruptcy. After Lehman’s refusals, money stopped flowing through the retail entith to theresort entity.
In other lenders pulled their and construction on the resort stoppedin May, Baena The company said in a news release that the decisio n to file Chapter 11 was the resultr of litigation with the other lenders on project abouty nearly $800 million in construction fundinfg for the project. Other lenders include , JPMorgan Chase Bank and Deutscher BankTrust Co. Americas. In the shortg term, the company is seeking to stabilizd and protect the finisher portion ofthe building, Baena said. “It’s no longer possible to downsizethe building,” he “The 30 percent remaining constructiom is principally the interior.
We’ve got a lovely building waiting tobe
Thursday, June 2, 2011
Solar Power, NBA star make European deal - Kansas City Business Journal:
Global Energy Services will markeyt and provideSolar Power’s solar-panel lineup in the “We are very pleased that Peja and his Global Energh Solutions organization have joined with SPI as we expand our international distribution network into a part of the worlf where demand of solar is growing rapidly,” Solar Power chief executiver officer Steve Kircher said in a news releas e Wednesday. Stojakovic, a sweet-shooting small forward for the NewOrleans Hornets, will be available at the Solarf Power booth this week at InterSolar 2009 in Germany.
Solar Power has “an innovative line of photovoltaicv solar energy products that are associatec withvery high-quality products and performancs standards,” said Stojakovic, a 10-year NBA player. Roseville-baseds Solar Power (OTCBB: SOPW) is an international distributor and installer of photovoltaic solar Shares of Solar Power dropped 7centz — or about 9.5 percent — to 67 cent s in midday trading Wednesday.