gavrilovaefivu.blogspot.com
U.S. Bankruptcy Court Judge Redfield Baum struggledc to stay on taskat Tuesday’s hearing as attorneys representing Coyotes owner Jerry Moyes, the city of the and other professional sports leagues delivered hourx of oral arguments over bankruptcy anti-trust law, relocation and othe r legal issues. Baum and the myriad of attorneysa delved into obscure bankruptcy provision s and past relocations by teams includinfg theOakland Raiders, San Dieg Clippers, Quebec Nordiques and Baltimore Baum focused on whether Balsillie will have to pay the NHL a relocationn fee on top of his $213 million offer to buy the financially strapped Coyotes from Phoenix trucking company owner Jerrgy Moyes.
The relocation fee could total as muchas $100 court documents indicate. Baum appears ready to rule that the NHL has the rightz to the Hamilton market and if the Coyotes aremovexd there, Balsillie will have to compensates the league for loss of an expansion opportunity. The city of Glendalew pressed Baum to consider legakl claims and costs that would accompany a move to That could offset an offee as lowas $140 millioj by parties wanting to keep the team in Arizona, city representativesz said. Glendale officials said they would make a clai for as muchas $500 millionh if the team breaks its lease at the city-owned Jobing.comn Arena. Arena concessionaire Aramark Corp.
also could make a Moyes and Balsillie’s attorneys argued that a lease claimn is subject to various monetargy caps and that the court can discharge leases terms and penalties in order to maximizethe team’s value for creditors. Moyes said a decisionb could come Wednesday and has urged the court to hold an auctionm sale for the hockey team onJune 22. The NHL and Glendalse say the sale shoulfd be put off until August and the leagude said it will finance the Coyotes into next seasonj ifneed be. Glendale attorneys also pressex Baum to find out how much moneyt Moyes may have taken out ofthe team.
They point to the fact the Coyotes spend money leasint private office space at Westgate City Cented instead of usingarena offices. Moyes spokesman Steve Roma saidthe city’s speculation that Moyee is profiting from that arrangement is false. Moyes and Westgatd developer Steve Ellman splitjoint assets, including the in 2006 with Moyes taking over as team The Coyotes have lost more than $300 millio n since moving to Phoenix from Winnipeg in 1996.
Thursday, May 31, 2012
Wednesday, May 30, 2012
Wyle Houston's Operations Supporting NASA Awarded Major Hardware Development ... - MarketWatch (press release)
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Wyle Houston's Operations Supporting NASA Awarded Major Hardware Development ... MarketWatch (press release) "Achieving CMMI Level 3 is a significant milestone for Wyle's space flight hardware and software development, and sustaining engineering operations," said Jim Kukla, Wyle vice president for the company's Science, Technology and Engineering Group. |
USA TODAY (blog) | Saints Leaving Seat Empty For Payton ESPN But no one will be sitting in Payton's seat while he's away from the team. The Saints will leave Payton's seat on the team's bus and plane empty this season and will do the same in team meetings, the Times-Picayune of New Orleans reported this week. New Orleans Saints lea ving a seat open for suspended head coach Sean Payton Report: Saints to leave Payton's seat empty Sean Payton's seat to stay empty |
Tuesday, May 15, 2012
Bannister Mall redevelopment smashes ahead - St. Louis Business Journal:
tarpleypymibujuh1491.blogspot.com
The mall site is part of a 467-acres parcel at Interstate 435 and Bannisteer Road in Kansas City being redevelopedby , a partnershi p that includes Lane 4 and owner . The mixed-usew project, called The Trails, will be anchored by an 18,500-seatg stadium to house the Wizards, Kansax City’s Major League Soccer team. “We are delighted that this momenythas arrived,” Robb Heineman, CEO of OnGoal LLC, said in a “A lot of hard work by a lot of peopl has made this possible.” Heinemanh praised public officials and adjacent neighborhoods for their In December 2007, the approved $230 million of local tax increment financingt for the project.
The approvedx $30 million in state tax credits for the project in and the is expectedr toapprove $28.5 millioh in state tax-increment financing for the project. Tax-increment financing allowx property, sales and other economic-activity taxes generatedd by a project to be divertef to eligible costs of the In addition to thesoccer stadium, The Trailzs is to include 12 soccer fields for hosting regional and national more than 1.
5 million squard feet of office space and 1 milliohn square feet of new retail “Despite the challenging economic climate, we continues to make progress with this projectg and plan to announce a second majoe tenant soon,” Owen Buckley, president of Lane4, said in the “The proximity and access to the entirer metropolitan area makes this location very attractive for many differenyt reasons and types of uses.
”
The mall site is part of a 467-acres parcel at Interstate 435 and Bannisteer Road in Kansas City being redevelopedby , a partnershi p that includes Lane 4 and owner . The mixed-usew project, called The Trails, will be anchored by an 18,500-seatg stadium to house the Wizards, Kansax City’s Major League Soccer team. “We are delighted that this momenythas arrived,” Robb Heineman, CEO of OnGoal LLC, said in a “A lot of hard work by a lot of peopl has made this possible.” Heinemanh praised public officials and adjacent neighborhoods for their In December 2007, the approved $230 million of local tax increment financingt for the project.
The approvedx $30 million in state tax credits for the project in and the is expectedr toapprove $28.5 millioh in state tax-increment financing for the project. Tax-increment financing allowx property, sales and other economic-activity taxes generatedd by a project to be divertef to eligible costs of the In addition to thesoccer stadium, The Trailzs is to include 12 soccer fields for hosting regional and national more than 1.
5 million squard feet of office space and 1 milliohn square feet of new retail “Despite the challenging economic climate, we continues to make progress with this projectg and plan to announce a second majoe tenant soon,” Owen Buckley, president of Lane4, said in the “The proximity and access to the entirer metropolitan area makes this location very attractive for many differenyt reasons and types of uses.
”
Sunday, May 13, 2012
Japanese visitors still spooked by flu - Nashville Business Journal:
iqukikofor.wordpress.com
According to preliminary counts, a total of 8,8709 passengers arrived June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same periodxin 2008, about 1,000 fewer visitors per day. The Japanesde visitor falloff begin the second week in May and was directlg attributed toswine flu, also called H1N1 influenz a A. Even though Japan has reported, as of 385 swine flu cases ofits own, ranking it amonyg the top six countries affectecd by the infection, many Japanese companies have banned employee s from overseas travel. The swind flu outbreak is also affecting travel from other Asian countries to Nortnh Americaand Europe, according to Hawaio Tourism Asia.
The South Korean travelo industryreports 15-30 percent cancellation rates in trips to U.S. destinations sincs the end of April. Cancellations to Hawaiui are under10 percent. The Chinese travel meantime, said cancellations in outbound travel are increasing, with fewer new-booked packages to the U.S.
According to preliminary counts, a total of 8,8709 passengers arrived June 1-4 on flights to Hawaii from That’s a 32 percent drop from the same periodxin 2008, about 1,000 fewer visitors per day. The Japanesde visitor falloff begin the second week in May and was directlg attributed toswine flu, also called H1N1 influenz a A. Even though Japan has reported, as of 385 swine flu cases ofits own, ranking it amonyg the top six countries affectecd by the infection, many Japanese companies have banned employee s from overseas travel. The swind flu outbreak is also affecting travel from other Asian countries to Nortnh Americaand Europe, according to Hawaio Tourism Asia.
The South Korean travelo industryreports 15-30 percent cancellation rates in trips to U.S. destinations sincs the end of April. Cancellations to Hawaiui are under10 percent. The Chinese travel meantime, said cancellations in outbound travel are increasing, with fewer new-booked packages to the U.S.
Friday, May 11, 2012
Applied Materials backs Joint Venture's green effort - Silicon Valley / San Jose Business Journal:
adamovaichive.blogspot.com
The grant was announced at Joing Venture’s State of the Valley conference in conjunctio with its for transforming Silicon Vallety to agreen economy. San Jose Mayor Chuc Reed said Joint Venture's plan could generate green green opportunity and greenn talent inthe process. Applied’s vice presidentt of marketing, Jonathan Pickering, said his company's investment is a commitmenr over the next two years to alloa Joint Venture to add the resources and personnel it needs to make its vision possible. The company, a leader in nanomanufacturing technology, is already doinfg its part, Pickering said.
The company is incorporating energy efficiencies intoits business, designing its products to ensure they are environmentally safe and engaged in public outreach related to sustainable The conference’s keynote speaker Shai CEO and founder of of Palo highlighted his company’s plan for what it will take to turn transportatiobn electric. “We don’t need to end the car,” he “Nobody will take our cars. We have 2 1/2 of them in each householcd inSilicon Valley.” Rather, Agassio described Better Place’s plan to make cars powerer by lithium-ion batteries more affordable than gasoline-rub cars.
The idea includes separating the car from the Consumers would buy electric cars that coulfd be chargedat home, work, in retail centers and in areas such as downtown San For longer road trips, a car’s depleted battery could be switched out with a freshu one. However, consumers wouldn’t buy the rather they would buy a prepaid contractrfor miles. “We have to this market will tip globally,” said Agassi, citinf places worldwide that are alreadgy offering incentives for consumers committing toelectricv vehicles.
The grant was announced at Joing Venture’s State of the Valley conference in conjunctio with its for transforming Silicon Vallety to agreen economy. San Jose Mayor Chuc Reed said Joint Venture's plan could generate green green opportunity and greenn talent inthe process. Applied’s vice presidentt of marketing, Jonathan Pickering, said his company's investment is a commitmenr over the next two years to alloa Joint Venture to add the resources and personnel it needs to make its vision possible. The company, a leader in nanomanufacturing technology, is already doinfg its part, Pickering said.
The company is incorporating energy efficiencies intoits business, designing its products to ensure they are environmentally safe and engaged in public outreach related to sustainable The conference’s keynote speaker Shai CEO and founder of of Palo highlighted his company’s plan for what it will take to turn transportatiobn electric. “We don’t need to end the car,” he “Nobody will take our cars. We have 2 1/2 of them in each householcd inSilicon Valley.” Rather, Agassio described Better Place’s plan to make cars powerer by lithium-ion batteries more affordable than gasoline-rub cars.
The idea includes separating the car from the Consumers would buy electric cars that coulfd be chargedat home, work, in retail centers and in areas such as downtown San For longer road trips, a car’s depleted battery could be switched out with a freshu one. However, consumers wouldn’t buy the rather they would buy a prepaid contractrfor miles. “We have to this market will tip globally,” said Agassi, citinf places worldwide that are alreadgy offering incentives for consumers committing toelectricv vehicles.
Thursday, May 10, 2012
Whataburger eying more growth after move to San Antonio - San Antonio Business Journal:
viktorsejbgif.blogspot.com
This summer, Restaurants LP will move its headquarters from Corpus Christio to the 300 Concordc Plaza office buildingalong U.S. Highway 281 Nortu and Jones Maltsberger Road in North CentralSan Antonio. Initially, 300 Concordr will house approximately 250Whataburgerr employees, according to Pam Cox of the corporate communications division of But over the next three to five that number is expected to increase to more than 300, she “… We have plannexd for growth within each of the departments and savedf spaces for future Whataburger family members,” she explains. “Oncee we are fully we expect tohave 300-plus peoplse in the building.
” All told, approximately 15 departmentes will move into 300 Concor — including payroll, human resources, marketint and innovation, and information technology, Cox adds. Whataburger’s existing divisionn office here will also move to the new headquarterxs buildingas well. At present, that office is locatedf at the Brookhollow Office Parkat 1006-1046 Central Parkway South also in North Central San Antonio. Whataburger occupies aboug 18,000 square feet in the 68,000-square-foot The fact that 300 Concord offered Whataburgerd room to grow was indeed an attractivse feature of the property one that led the company to acquire the asset last Cox says.
But the chain was also lookingf to provide a comfortable environment for its including those making the move from Corpus Christi to theAlam City. “They’re making big changes in their liveds for our company and we appreciate and recognize that. This building is … close to qualityh schools, neighborhoods and otheer amenities. It also has convenient access to (Highway) 281 and 410, allowing our family members to chooses where they want to live and the kind of commuterthey want.” Whataburger looked at more than 10 buildingsz before deciding on 300 Concord for its new Cox says.
It was a process that involved lookint at variousalternatives — from renting to buying space, recalls Jeff Miller, who is a principal with San Antonio’es . Miller represented Whataburger in the 300Concorde transaction. Getting the deal itself inkedf was alsoa challenge, Millef says. The previous owner was HDG Mansur an Indianapolis-based entity that had been leasing the property to San Antonio-based oil refinee Tesoro Corp. since 2006. Dealing with three different firms HDG Mansur, Tesoro and Whataburger made for “a lot of moving Miller says. The work, however, will be well wortn it — not only for 300 Concord’s new owner but for San Antonioas well.
“Thaf is an iconic building,” says noting that the property is one of the first thingws many see when they fly in toSan Antonio. “We’ve had a great corporatwe citizen in it for10 years, and now we’vre replaced it with anothef great corporate citizen.” Meanwhile, Tesoro will move to its new corporatse offices this summer — becoming the anchore tenant in the new office complex Ridgewood Park near the intersectio n of Highway 281 and Loop 1604 on the city’se far North Side.
That move could have resultexd in morethan 320,000 square feet of office spacre coming back on to the Now, thanks to Whataburger, the amounrt of vacant space coming back on the market has essentiall been cut in half, Mille says. Whataburger’s purchase of 300 Concorfd is a good bit ofbusiness — given the slowed business pace of the office market thess days. “Commercial real estate transactions are simplh taking longer than theyused to, to Miller explains. “Corporations are being very carefup with theircapital expenditures, very cautious and very comprehensivwe in their analysis of any new-spacr acquisitions.
” Of Whataburger’s investment in the Alamo City, Miller adds: “This is the first significant-sizeds deal of the year. We need to see more of theser transactions before any level of markeg stablityis realized.” Happy Easter? According to the latest Chain Store Sales Trends repor by New York-based organization the International Council of Shopping Centerx (ICSC), retail sales for the month of Marcjh were down 2.1 percent — compared to sales for the same monthu in 2008. The industry, however, may not be as depresseds as what the numberxs in the newreport show, observes Michael P. chief economist and director of researchufor ICSC.
“The overall tone for Marchh was actually stronger than the reported sales performance,” says who points to a couple of factors that had a significantg impact on retail sales in Marchg — including the fact that Eastere was celebrated three weeks later this year, compareds to 2008. In fact, taking into account such calendar-relatex dynamics, sales for March, 2009 were “strongerd than reported; in fact, up about 1 percent,” Niemirqa adds. Looking ahead to April, ICSC expects salesz to be anywhere from flat to up a modest 1 compared to salesfor 2008.
This summer, Restaurants LP will move its headquarters from Corpus Christio to the 300 Concordc Plaza office buildingalong U.S. Highway 281 Nortu and Jones Maltsberger Road in North CentralSan Antonio. Initially, 300 Concordr will house approximately 250Whataburgerr employees, according to Pam Cox of the corporate communications division of But over the next three to five that number is expected to increase to more than 300, she “… We have plannexd for growth within each of the departments and savedf spaces for future Whataburger family members,” she explains. “Oncee we are fully we expect tohave 300-plus peoplse in the building.
” All told, approximately 15 departmentes will move into 300 Concor — including payroll, human resources, marketint and innovation, and information technology, Cox adds. Whataburger’s existing divisionn office here will also move to the new headquarterxs buildingas well. At present, that office is locatedf at the Brookhollow Office Parkat 1006-1046 Central Parkway South also in North Central San Antonio. Whataburger occupies aboug 18,000 square feet in the 68,000-square-foot The fact that 300 Concord offered Whataburgerd room to grow was indeed an attractivse feature of the property one that led the company to acquire the asset last Cox says.
But the chain was also lookingf to provide a comfortable environment for its including those making the move from Corpus Christi to theAlam City. “They’re making big changes in their liveds for our company and we appreciate and recognize that. This building is … close to qualityh schools, neighborhoods and otheer amenities. It also has convenient access to (Highway) 281 and 410, allowing our family members to chooses where they want to live and the kind of commuterthey want.” Whataburger looked at more than 10 buildingsz before deciding on 300 Concord for its new Cox says.
It was a process that involved lookint at variousalternatives — from renting to buying space, recalls Jeff Miller, who is a principal with San Antonio’es . Miller represented Whataburger in the 300Concorde transaction. Getting the deal itself inkedf was alsoa challenge, Millef says. The previous owner was HDG Mansur an Indianapolis-based entity that had been leasing the property to San Antonio-based oil refinee Tesoro Corp. since 2006. Dealing with three different firms HDG Mansur, Tesoro and Whataburger made for “a lot of moving Miller says. The work, however, will be well wortn it — not only for 300 Concord’s new owner but for San Antonioas well.
“Thaf is an iconic building,” says noting that the property is one of the first thingws many see when they fly in toSan Antonio. “We’ve had a great corporatwe citizen in it for10 years, and now we’vre replaced it with anothef great corporate citizen.” Meanwhile, Tesoro will move to its new corporatse offices this summer — becoming the anchore tenant in the new office complex Ridgewood Park near the intersectio n of Highway 281 and Loop 1604 on the city’se far North Side.
That move could have resultexd in morethan 320,000 square feet of office spacre coming back on to the Now, thanks to Whataburger, the amounrt of vacant space coming back on the market has essentiall been cut in half, Mille says. Whataburger’s purchase of 300 Concorfd is a good bit ofbusiness — given the slowed business pace of the office market thess days. “Commercial real estate transactions are simplh taking longer than theyused to, to Miller explains. “Corporations are being very carefup with theircapital expenditures, very cautious and very comprehensivwe in their analysis of any new-spacr acquisitions.
” Of Whataburger’s investment in the Alamo City, Miller adds: “This is the first significant-sizeds deal of the year. We need to see more of theser transactions before any level of markeg stablityis realized.” Happy Easter? According to the latest Chain Store Sales Trends repor by New York-based organization the International Council of Shopping Centerx (ICSC), retail sales for the month of Marcjh were down 2.1 percent — compared to sales for the same monthu in 2008. The industry, however, may not be as depresseds as what the numberxs in the newreport show, observes Michael P. chief economist and director of researchufor ICSC.
“The overall tone for Marchh was actually stronger than the reported sales performance,” says who points to a couple of factors that had a significantg impact on retail sales in Marchg — including the fact that Eastere was celebrated three weeks later this year, compareds to 2008. In fact, taking into account such calendar-relatex dynamics, sales for March, 2009 were “strongerd than reported; in fact, up about 1 percent,” Niemirqa adds. Looking ahead to April, ICSC expects salesz to be anywhere from flat to up a modest 1 compared to salesfor 2008.
Tuesday, May 8, 2012
Faulty forks lead to bicycle recalls - The Business Journal of Milwaukee:
yfimuna.wordpress.com
of Waterloo is recalling about 16,000 model year 2009 Trek 7300WSD, and 7500 bicycles that Trek dealers nationwidd sold from August 2008 through April 2009 forbetween $640 and , of Bethel, Conn. -- a bike makerf that is owned by Ltd., the Canadiajn owner of PacificCycle Inc. of Madison -- is recalling abouyt 1,500 model year 2008 Cannondale Adventure 2, Adventure 3, Adventure 2 Feminin and Adventure 3 Feminine The bikes were sold from February 2009 througnh April 2009 for between $600 and $800. The recallede bicycles all include a fork producedc by JD Componentsof Taiwan.
The fork can lose alignmen t causing the front wheel to turn unexpectedly and causwe the rider to lose control of the bicycleand crash. No injuries have yet been Consumers should stop riding the recalled bicycled immediately and contact their dealer to arrangw for a free Formore information, contact Trek at 382-2453 or Cannondale at 245-3872 (BIKEUSA).
of Waterloo is recalling about 16,000 model year 2009 Trek 7300WSD, and 7500 bicycles that Trek dealers nationwidd sold from August 2008 through April 2009 forbetween $640 and , of Bethel, Conn. -- a bike makerf that is owned by Ltd., the Canadiajn owner of PacificCycle Inc. of Madison -- is recalling abouyt 1,500 model year 2008 Cannondale Adventure 2, Adventure 3, Adventure 2 Feminin and Adventure 3 Feminine The bikes were sold from February 2009 througnh April 2009 for between $600 and $800. The recallede bicycles all include a fork producedc by JD Componentsof Taiwan.
The fork can lose alignmen t causing the front wheel to turn unexpectedly and causwe the rider to lose control of the bicycleand crash. No injuries have yet been Consumers should stop riding the recalled bicycled immediately and contact their dealer to arrangw for a free Formore information, contact Trek at 382-2453 or Cannondale at 245-3872 (BIKEUSA).
Sunday, May 6, 2012
Med Ad News Honors Healthcare Communication Agencies at 23rd Annual Manny Awards - MarketWatch (press release)
tiqosi.wordpress.com
Med Ad News Honors Healthcare Communication Agencies at 23rd Annual Manny Awards MarketWatch (press release) HAMILTON, NJ, April 25, 2012 /PRNewswire via COMTEX/ -- UBM Canon has announced the winners of the 23rd annual Med Ad News Manny Awards 2012. The black-tie gala event, held at Pier Sixty in New York, included the naming of ICC Lowe as Agency of the ... Susan Miller Viray Accepts Award as Advertising Person of the Year at the Med ... < nobr>PR Newswire (press release) |
Saturday, May 5, 2012
High Desert Pediatrics opens doors June 15 - The Business Journal of Milwaukee:
vilyfijohy.wordpress.com
Located at 8650 Alameda NE., the 4,100-square-foor medical office is the first tenant inthe two-building office plaza built by Hoecyh Real Estate Corp. The project includes two officee buildings totaling morethan 42,000 squard feet and a new church for Hope Episcopal. The new clinic’s operators did their residencies at the and specialize in acutely ill Hope Plaza is seeking a silvedr certification from the in its Leadership in Energyg and EnvironmentalDesign (LEED) program. Father-son team Don and Justin Hoech partnered with the church to develolp the parcel adjacent to La Cueva High School in the Far Northeast Heightsof Albuquerque.
The office buildings are being offeredf for sale as office condominiums or canbe leased. represents half of the $7.5 million project, whic was built by Enterprise Builders. High Desert Pediatricw is the lone tenant to date far inthe project.
Located at 8650 Alameda NE., the 4,100-square-foor medical office is the first tenant inthe two-building office plaza built by Hoecyh Real Estate Corp. The project includes two officee buildings totaling morethan 42,000 squard feet and a new church for Hope Episcopal. The new clinic’s operators did their residencies at the and specialize in acutely ill Hope Plaza is seeking a silvedr certification from the in its Leadership in Energyg and EnvironmentalDesign (LEED) program. Father-son team Don and Justin Hoech partnered with the church to develolp the parcel adjacent to La Cueva High School in the Far Northeast Heightsof Albuquerque.
The office buildings are being offeredf for sale as office condominiums or canbe leased. represents half of the $7.5 million project, whic was built by Enterprise Builders. High Desert Pediatricw is the lone tenant to date far inthe project.
Thursday, May 3, 2012
School Committee Candidate: Melissa Even Moore - Patch.com
iqukikofor.wordpress.com
School Committee Candidate: Melissa Even Moore Patch.com Melissa Even Moore is one of the five candidates seeking three open seats on the Hamilton-Wenham Regional School Committee. Wenham votes on Saturday, May 5 from 8 am-noon atBuker Elementary School and Hamilton votes on Thursday, April 24 from 7 am-8 pm ... |
Tuesday, May 1, 2012
Shareholder offers to buy Avigen, sell to San Diego biotech - San Francisco Business Times:
ibitasony.wordpress.com
million so Avigen can merge with a San Diego biopharmaceutical But Biotechnology Value Fund LP of San Franciscpo said the offer by its whollyownex subsidiary, LLC, is dependent on Avigen’ds board being replaced by a BVF slate of directores that includes Biotechnology Value Fund principal Mark BVF also said a poison pill plan approver by Avigen in November must be redeemefd or that BVF is satisfiex that the poison pill is inapplicable to the BVF wants to merge Avigen (NASDAQ: AVGN) with (NASDAQ: Its offer expires at midnight (Eastern time) on Feb. 23. based in San Diego, last month said it had sent a letterf to Avigen ChairmanZola Horovitz, according to Biotechnologg Value Fund.
The fund also claims in a Securities and Exchangd filing today that the MediciNovza offerwas rejected. But an Avigen spokeswomaj said Friday that the company has notrejectex MediciNova's offer, noting a Jan. 14 pressx release in which CEO Kenneth Chahine said Avigemn had talked with MediciNova for more than a year andwould "include their proposed acquisition offer in our analysis" of the company'as options.
MediciNova is focused on two one to treat acute exacerbations of asthma and the othef to treatmultiple Avigen, which was formed in October fired 70 percent of its workforce after its drug to controlp muscle tightness in multiple sclerosis patients, AV-650, failes in a mid-stage trial. It also said it would leave its Alameda labs and consider lookinfg at moving out of itsheadquarters there. The companyy last month sold the rights toits early-stage bloodc coagulation compound, AV-513, to for $7 Biotechnology Value Fund owned 8.8 million sharesz — or about 29.6 percent — of Avigen as of Jan. 12.
It has urgedx Avigen’s to offer a guaranty for shareholders in case ofa worst-casew scenario, including a dividend or distributinf all excess cash or by offering to buy back Avigen earlier this month said it had retaine d two independent financial advisors — and Pacific Growth Equitiesz LLC — to review of merger and acquisition opportunities and help the company sell or find a partnefr that would give money in exchange for the Phasew I/II pain drug AV-411. CEO Chahine at that time said ifthe company’s efforts were unsuccessful, the company woulf consider other options, including a partial or complete distributiom of cash.
Avigen’s sales price, whicjh was as low as 51 cents per share in thefourth quarter, closed Friday at 93 The stock had been as high as $4.7t5 in first-quarter 2008.
million so Avigen can merge with a San Diego biopharmaceutical But Biotechnology Value Fund LP of San Franciscpo said the offer by its whollyownex subsidiary, LLC, is dependent on Avigen’ds board being replaced by a BVF slate of directores that includes Biotechnology Value Fund principal Mark BVF also said a poison pill plan approver by Avigen in November must be redeemefd or that BVF is satisfiex that the poison pill is inapplicable to the BVF wants to merge Avigen (NASDAQ: AVGN) with (NASDAQ: Its offer expires at midnight (Eastern time) on Feb. 23. based in San Diego, last month said it had sent a letterf to Avigen ChairmanZola Horovitz, according to Biotechnologg Value Fund.
The fund also claims in a Securities and Exchangd filing today that the MediciNovza offerwas rejected. But an Avigen spokeswomaj said Friday that the company has notrejectex MediciNova's offer, noting a Jan. 14 pressx release in which CEO Kenneth Chahine said Avigemn had talked with MediciNova for more than a year andwould "include their proposed acquisition offer in our analysis" of the company'as options.
MediciNova is focused on two one to treat acute exacerbations of asthma and the othef to treatmultiple Avigen, which was formed in October fired 70 percent of its workforce after its drug to controlp muscle tightness in multiple sclerosis patients, AV-650, failes in a mid-stage trial. It also said it would leave its Alameda labs and consider lookinfg at moving out of itsheadquarters there. The companyy last month sold the rights toits early-stage bloodc coagulation compound, AV-513, to for $7 Biotechnology Value Fund owned 8.8 million sharesz — or about 29.6 percent — of Avigen as of Jan. 12.
It has urgedx Avigen’s to offer a guaranty for shareholders in case ofa worst-casew scenario, including a dividend or distributinf all excess cash or by offering to buy back Avigen earlier this month said it had retaine d two independent financial advisors — and Pacific Growth Equitiesz LLC — to review of merger and acquisition opportunities and help the company sell or find a partnefr that would give money in exchange for the Phasew I/II pain drug AV-411. CEO Chahine at that time said ifthe company’s efforts were unsuccessful, the company woulf consider other options, including a partial or complete distributiom of cash.
Avigen’s sales price, whicjh was as low as 51 cents per share in thefourth quarter, closed Friday at 93 The stock had been as high as $4.7t5 in first-quarter 2008.
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