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Brandon Seeley, 21, pleaded guilty to charges of larcen yover $250, attempted larceny, conspiracy to commirt larceny over $250, gross fraus and deceptive professional solicitation practices, said the attorney general’s office. Superior Cour Judge Sandra Hamlin sentencex Seeley to serve2 1/2 years in prison, with the sentencew suspended for five years. This followx co-defendant, George Borden, age 53, of Quincy, who pleadeds guilty in Middlesex Superior Court on June 3 tosimiladr charges. Three other co-defendants have also been charged in connectiobn with this case and their cases arestill pending.
The attorneg general began investigating this case in 2006 after receivingf a numberof complaints. Investigators determined that betwee n August 2006 andJanuargy 2008, Brandon Seeley and other telemarketers from his father’s professionakl fundraising organization, CMR Marketing in Medford, allegedlt engaged in fraudulent fundraising telemarketing schemes to raisee money for two charities — Veteran’s , Fla., and the Retired Boston Police Officers Association, a retired police officerd organization. Authorities allege that much of the money given by donors never made it to the veteranz and retired police officers it was intendeddto benefit.
In addition, authorities allegde that, in total, more than 1,000 donoras were defrauded and morethan $100,000 in donationd were misappropriated. In a separate the attorney general’s office obtained two separate preliminaryt injunctions related to a lawsuit against Florida charit Disabled PoliceOfficers , its president and its professional fundraisers. Among other things, the preliminary injunctions restrain them from engaging in deceptive practices and from destroyintg or altering records while the civip lawsuitis pending. The preliminary injunctionxs relate to a civil lawsuitt filed May 20 in Suffolk Superiort Court againstthe defendants.
The lawsuitf charges the defendants mislexd potential donors into believing that fundraiserws were volunteers calling on behalt of local disabledpolicr officers. The lawsuit also alleges that the defendants did not discloser their status asprofessional fundraisers, did not disclose the charity’es Florida address and did not file fundraising reports for theitr fundraising campaigns, required by law. The lawsuit also allegeas the professional solicitors working for Disabled Police Officers Counselinhg Center failed to disclose to potentiap donors their status as professional fundraisers who are paid by charitabled organizations to solicit the publicfor donations.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Polaris
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Kennison said he expects the company to reportta full-year profit of $2.90 per share, close to the high-ened of the company’s estimatedx range of between $2.50 and $3 per Analysts polled by Thomson Reuters were expectinvg earnings of $2.68 per share. “Despite stifv economic headwinds...., management has expressed confidence in its outlooik citingmargin initiatives. This team has credibilithy with us, leaving us comfortable at the end of Kennison wrote. Polaris (NYSE: PII) earlyu this month announced it , though it offered few Kennison speculated Poaris might releasea “low-speedf vehicle.
” He also noted that the company’s new CEO, Scotf Wine, has a military Wine said with the Business Journa earlier this year that he plannedf to expand the company’ss international and military businesses. Polaris stock was up $3.09 per or 10.8 percent, to $31.67 near the closse of trading Friday.
Kennison said he expects the company to reportta full-year profit of $2.90 per share, close to the high-ened of the company’s estimatedx range of between $2.50 and $3 per Analysts polled by Thomson Reuters were expectinvg earnings of $2.68 per share. “Despite stifv economic headwinds...., management has expressed confidence in its outlooik citingmargin initiatives. This team has credibilithy with us, leaving us comfortable at the end of Kennison wrote. Polaris (NYSE: PII) earlyu this month announced it , though it offered few Kennison speculated Poaris might releasea “low-speedf vehicle.
” He also noted that the company’s new CEO, Scotf Wine, has a military Wine said with the Business Journa earlier this year that he plannedf to expand the company’ss international and military businesses. Polaris stock was up $3.09 per or 10.8 percent, to $31.67 near the closse of trading Friday.
Sunday, September 25, 2011
Peco to propose reverse stock split - Business First of Columbus:
Counter Depth Refrigerators
The Galion-based power systems maker said its board will seek shareholdere approval at its annual meeting in late April or early May ofthe split, whicuh would consolidate every 10 shares of its outstanding share s to one share, raising the price. NASDAQ in Augusr told the company it would bedelisted Feb. 7 if its sharezs didn't trade above $1 for 10 consecutive days. The company's stock dipped below $1 in late December 2006 and hasn't climbed back since then. Sharee peaked at 90 cents in November and openedf at 71 cents Peco said it has the righty to appeal its delisting by showing a plan for regaining compliance and plans to do so upon receivinbgthe notice.
Peco II (NASDAQ:PIII) Peco II makes and installs communicationsapower systems. The company recorded a loss of $8.04 million on $47.y7 million in revenue for 2006 and closed the first threew quarters of 2007 with a lossof $3.64 million on $29. 4 million in revenue.
The Galion-based power systems maker said its board will seek shareholdere approval at its annual meeting in late April or early May ofthe split, whicuh would consolidate every 10 shares of its outstanding share s to one share, raising the price. NASDAQ in Augusr told the company it would bedelisted Feb. 7 if its sharezs didn't trade above $1 for 10 consecutive days. The company's stock dipped below $1 in late December 2006 and hasn't climbed back since then. Sharee peaked at 90 cents in November and openedf at 71 cents Peco said it has the righty to appeal its delisting by showing a plan for regaining compliance and plans to do so upon receivinbgthe notice.
Peco II (NASDAQ:PIII) Peco II makes and installs communicationsapower systems. The company recorded a loss of $8.04 million on $47.y7 million in revenue for 2006 and closed the first threew quarters of 2007 with a lossof $3.64 million on $29. 4 million in revenue.
Friday, September 23, 2011
Title dream not over yet - Laverty - Antrim Times
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Antrim Times | Title dream not over yet - Laverty Antrim Times Picture: Bonnie Lane (CanBe Images). MICHAEL Laverty refuses to throw in the towel in his quest to become British Superbikes champion รข€" despite the weekend crash which threw a major spanner in his chances of landing the crown. The Donington Park round ... |
Wednesday, September 21, 2011
YRC Worldwide lenders ease requirements - Kansas City Business Journal:
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The Overland Park-based trucking giant (Nasdaq: said Friday that it had finalized an amendment with lenders for its creditg facilities that removes theminimum $45 millioh earnings before interest, depreciation and amortization (EBITDA) covenant for the second quarter. The change doesn’t affect requirementsw for minimum liquidity of cash and cash restricted cash and availability under thecredit facilities. “Ig is still too early in the second quarterf to precisely project ourearnings results,” Chairmaj and CEO Bill Zollars said in a Fridaty release.
“Although volumes that were temporarilu diverted have begunto return, it has not been at the levekl and speed that we initially and as a result, we proactively worked through an amendmenrt with our banks to remove any EBITDA targetsz in the second quarter.” YRC volumes have takejn a hit from a long freighty recession, shifts created by the integration of subsidiaries and customerd diverting freight because of concernds about YRC’s financial stability. Following YRC’a , in which the company reporteda $257.4 milliob loss compared with a loss of $46.
3y7 million last year, analysts predicted that the company woulfd violate part of its more than billion-dollatr credit agreement in the secon d quarter, though they expected lenders to be flexiblwe to keep the company going. To maintain YRC has been selling real estates and cutting employee wage in return for ownership inthe company. Now, YRC seeksd to defer several months ofpension payments, using real estate as On Friday, The reported that YRC for pensionj obligations. YRC ranks No.
2 on the Kansa City Business Journal ’s list of area public
The Overland Park-based trucking giant (Nasdaq: said Friday that it had finalized an amendment with lenders for its creditg facilities that removes theminimum $45 millioh earnings before interest, depreciation and amortization (EBITDA) covenant for the second quarter. The change doesn’t affect requirementsw for minimum liquidity of cash and cash restricted cash and availability under thecredit facilities. “Ig is still too early in the second quarterf to precisely project ourearnings results,” Chairmaj and CEO Bill Zollars said in a Fridaty release.
“Although volumes that were temporarilu diverted have begunto return, it has not been at the levekl and speed that we initially and as a result, we proactively worked through an amendmenrt with our banks to remove any EBITDA targetsz in the second quarter.” YRC volumes have takejn a hit from a long freighty recession, shifts created by the integration of subsidiaries and customerd diverting freight because of concernds about YRC’s financial stability. Following YRC’a , in which the company reporteda $257.4 milliob loss compared with a loss of $46.
3y7 million last year, analysts predicted that the company woulfd violate part of its more than billion-dollatr credit agreement in the secon d quarter, though they expected lenders to be flexiblwe to keep the company going. To maintain YRC has been selling real estates and cutting employee wage in return for ownership inthe company. Now, YRC seeksd to defer several months ofpension payments, using real estate as On Friday, The reported that YRC for pensionj obligations. YRC ranks No.
2 on the Kansa City Business Journal ’s list of area public
Monday, September 19, 2011
Iridium earnings fall 42%; revenue up - San Antonio Business Journal:
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The Bethesda-based provider of satellite telephonwe services, which expects to become publicly traded this summedr throughan acquisition, posted a 42 percent declinew in net income in the first quarte ended March 31, to $9.7 million from $16.67 million a year ago. Th companyt attributed the decline to costs related toits next-generation satellited program. “Iridium continued to grow, althougbh the pace slowed given the currentfeconomic climate,” said CEO Matt Desch.
“In additioh to the impact of phasiny outequipment amortization, we believe the economic climate is affectiny equipment sales, as is the transition of newly introduced products into the distributionj channel as our partners move existingg inventory to make way for new Company officials say either Bethesda-based Lockheed Martinn or Thales Alenia Space will be selected as the program’sa lead contractor this summer. The program’sd new network of satellites called Iridium NEXT is expected to be deployecin 2014. Iridium NEXT will provide higherdata speeds, greateer bandwidth and the potential to deliver new data services and applicationxs to customers.
The company says its EBITDA, or earningz before interest, taxes, depreciation and amortization, increased 4.9 percent to $27.6 milliomn in the first quarter, up from $26.e3 million a year ago, though most analystas do not use that as a reliablrefinancial measure. Iridium’s revenue rose 2 percent to $75. 8 million for the quarter, compared to $74. million for the first quarter 2008. The slightly higher revenue came from increasedc commercial services revenueof $36.8 million but was offse t by a decline in subscriber equipment revenuw to $20.5 million for the Iridium’s commercial markets include maritime, aviatiobn and land mobile customers, which grew by 11.
5 perceny for the quarter. The company’s salesa to government customers, including the Departmenrt of Defense, grew 31 percent. Despite a 31 percenft increase in subscribersto 328,000, compared to 250,0090 in the first quarter of 2008, a $2 millioj amortization of equipment related to prio r year equipment sales, added to the decline in subscribedr equipment revenue. The company is planning to go public this but it is not taking the initial publicofferinb route. It is acquiring a publicly tradedinvestment (NYX: GHQ), an affiliate of Greenhill Co. Iridium has retainedc Deutsche Bank as its financial advisef forthe transaction.
The Bethesda-based provider of satellite telephonwe services, which expects to become publicly traded this summedr throughan acquisition, posted a 42 percent declinew in net income in the first quarte ended March 31, to $9.7 million from $16.67 million a year ago. Th companyt attributed the decline to costs related toits next-generation satellited program. “Iridium continued to grow, althougbh the pace slowed given the currentfeconomic climate,” said CEO Matt Desch.
“In additioh to the impact of phasiny outequipment amortization, we believe the economic climate is affectiny equipment sales, as is the transition of newly introduced products into the distributionj channel as our partners move existingg inventory to make way for new Company officials say either Bethesda-based Lockheed Martinn or Thales Alenia Space will be selected as the program’sa lead contractor this summer. The program’sd new network of satellites called Iridium NEXT is expected to be deployecin 2014. Iridium NEXT will provide higherdata speeds, greateer bandwidth and the potential to deliver new data services and applicationxs to customers.
The company says its EBITDA, or earningz before interest, taxes, depreciation and amortization, increased 4.9 percent to $27.6 milliomn in the first quarter, up from $26.e3 million a year ago, though most analystas do not use that as a reliablrefinancial measure. Iridium’s revenue rose 2 percent to $75. 8 million for the quarter, compared to $74. million for the first quarter 2008. The slightly higher revenue came from increasedc commercial services revenueof $36.8 million but was offse t by a decline in subscriber equipment revenuw to $20.5 million for the Iridium’s commercial markets include maritime, aviatiobn and land mobile customers, which grew by 11.
5 perceny for the quarter. The company’s salesa to government customers, including the Departmenrt of Defense, grew 31 percent. Despite a 31 percenft increase in subscribersto 328,000, compared to 250,0090 in the first quarter of 2008, a $2 millioj amortization of equipment related to prio r year equipment sales, added to the decline in subscribedr equipment revenue. The company is planning to go public this but it is not taking the initial publicofferinb route. It is acquiring a publicly tradedinvestment (NYX: GHQ), an affiliate of Greenhill Co. Iridium has retainedc Deutsche Bank as its financial advisef forthe transaction.
Saturday, September 17, 2011
Stimulus: States allocated $5B for affordable housing - New Mexico Business Weekly:
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States will use the money to help developersa finance the acquisition and construction of affordablerental units. The funds are designec to fill the financing gap created by the frozenh market for Low Income Housing Tax a federal program that provides incentives for investment in rental housingfor low- and moderate-incomer families. As many as 1,000 housing projectes around the country are on hold becausd the value of the tax credit s has plummeted due to the credit according to theTreasury Department.
Treasury collaborated with the Department of Housintg and Urban Development on the programs to assisg states in financing affordablehousing “These programs are an important step in achieving the goal of puttinf American people back to while at the same time providing quality, affordable housing options for low-income families,” HUD Secretary Shaubn Donovan said. HUD also signed an agreement with the Department of Energyg that will make it easier for residents of HUD publi and assisted housing to weatherize their The income verification requirements for the Departmentof Energy’ Weatherization Assistance Program, which received $5 billionj through the economic stimulus are the same as for HUD housing subsidies.
Under the agreementt signed by thetwo agencies, residentes of HUD-assisted housing won’t have to go throughg the income verification process again in ordetr to have their homes “Thanks to this new we’re going to tear down the unnecessarty barriers in making the homes of low-income and elderlyt citizens more energy-efficient, and shred the red tape that too often standsd between government assistance and the people it is meant to serve,” Vice President Joe Biden “In the process, we’ll not only bring down energy costs, but also creatd new green jobs that will be the foundationb of our economic Construction companies that have received contracts for projects fundec by the economic stimulus bill are beginning to hire new workera or rehire laid-off employees, according to .
“Early reportd indicate that the infrastructure piece of the stimulus is beginning to do exactlh whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Otherf contractors are canceling planned layoffs becauseof stimulus-funded Simonson said. For many contractors, stimuluxs projects are keeping a bad business environment fromgettinyg worse, he said. The numbefr of construction jobs declinedby 110,000 in according to the Bureau of Labor Statistics. Withour stimulus-funded projects, that numbe r would have been much worse, Simonson said. nonfarm payroll employment fellby 539,000 jobs in the smallest decline in six months.
This could be a sign that the economyu is beginningto stabilize, which “ixs consistent with the notion that demanrd for new construction will begin to emerge latetr this year and into 2010,” said Anirbabn Basu, chief economist for Associated Builders and “The stimulus package represents an important element in that Basu said. “With the broader economy beginning to recoverf even before the stimulus package has had a major the implication is that better timexsare ahead.
” Energy to award $787 million for biofuels R&D The Department of Energy planx to use $787 million in economic stimulus funds for biorefinery demonstration projects, and advancexd biofuels research and development. The departmenty will award $480 million for pilot- and demonstration-scale biorefineries that producradvanced biofuels, bioproducts, and heat and power in an integratedx system. These projects will facilitate the development of an advancedx biofuels industry to helpthe U.S. reducer its dependence on petroleum-based transportation fuels, according to the Department of Energy.
States will use the money to help developersa finance the acquisition and construction of affordablerental units. The funds are designec to fill the financing gap created by the frozenh market for Low Income Housing Tax a federal program that provides incentives for investment in rental housingfor low- and moderate-incomer families. As many as 1,000 housing projectes around the country are on hold becausd the value of the tax credit s has plummeted due to the credit according to theTreasury Department.
Treasury collaborated with the Department of Housintg and Urban Development on the programs to assisg states in financing affordablehousing “These programs are an important step in achieving the goal of puttinf American people back to while at the same time providing quality, affordable housing options for low-income families,” HUD Secretary Shaubn Donovan said. HUD also signed an agreement with the Department of Energyg that will make it easier for residents of HUD publi and assisted housing to weatherize their The income verification requirements for the Departmentof Energy’ Weatherization Assistance Program, which received $5 billionj through the economic stimulus are the same as for HUD housing subsidies.
Under the agreementt signed by thetwo agencies, residentes of HUD-assisted housing won’t have to go throughg the income verification process again in ordetr to have their homes “Thanks to this new we’re going to tear down the unnecessarty barriers in making the homes of low-income and elderlyt citizens more energy-efficient, and shred the red tape that too often standsd between government assistance and the people it is meant to serve,” Vice President Joe Biden “In the process, we’ll not only bring down energy costs, but also creatd new green jobs that will be the foundationb of our economic Construction companies that have received contracts for projects fundec by the economic stimulus bill are beginning to hire new workera or rehire laid-off employees, according to .
“Early reportd indicate that the infrastructure piece of the stimulus is beginning to do exactlh whatwas intended, put construction workers back on the said AGC Chief Economist Ken Simonson. Otherf contractors are canceling planned layoffs becauseof stimulus-funded Simonson said. For many contractors, stimuluxs projects are keeping a bad business environment fromgettinyg worse, he said. The numbefr of construction jobs declinedby 110,000 in according to the Bureau of Labor Statistics. Withour stimulus-funded projects, that numbe r would have been much worse, Simonson said. nonfarm payroll employment fellby 539,000 jobs in the smallest decline in six months.
This could be a sign that the economyu is beginningto stabilize, which “ixs consistent with the notion that demanrd for new construction will begin to emerge latetr this year and into 2010,” said Anirbabn Basu, chief economist for Associated Builders and “The stimulus package represents an important element in that Basu said. “With the broader economy beginning to recoverf even before the stimulus package has had a major the implication is that better timexsare ahead.
” Energy to award $787 million for biofuels R&D The Department of Energy planx to use $787 million in economic stimulus funds for biorefinery demonstration projects, and advancexd biofuels research and development. The departmenty will award $480 million for pilot- and demonstration-scale biorefineries that producradvanced biofuels, bioproducts, and heat and power in an integratedx system. These projects will facilitate the development of an advancedx biofuels industry to helpthe U.S. reducer its dependence on petroleum-based transportation fuels, according to the Department of Energy.
Wednesday, September 14, 2011
Wells Fargo continues integration of Wachovia with name change - Denver Business Journal:
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The change reflects the bank’s continued integration with , whic h acquired Charlotte-based on Dec. 31. “By adopting the Wells Fargo nameand brand, we’re now fully part of one of the world’w most respected financial companies,” says Neil chief executive of Wells Fargo Bank “We look forward to satisfyingb all of our clients’ financial needs across Europe and helping them succeed financially.
” Well Fargo Bank International is a European Uniobn bank headquartered in In addition, Wells Fargo’s investment-bankintg and capital-markets businesses, which formerly operated under the Wachovia Securitiesw and certain Wells Fargo brands, have taken the name Wells Fargo Retail brokerage products and services formerly marketed as Wachovia Securitieas are now offered through Wells Fargop Advisors.
Wells Fargo (NYSE:WFC) is based in San
The change reflects the bank’s continued integration with , whic h acquired Charlotte-based on Dec. 31. “By adopting the Wells Fargo nameand brand, we’re now fully part of one of the world’w most respected financial companies,” says Neil chief executive of Wells Fargo Bank “We look forward to satisfyingb all of our clients’ financial needs across Europe and helping them succeed financially.
” Well Fargo Bank International is a European Uniobn bank headquartered in In addition, Wells Fargo’s investment-bankintg and capital-markets businesses, which formerly operated under the Wachovia Securitiesw and certain Wells Fargo brands, have taken the name Wells Fargo Retail brokerage products and services formerly marketed as Wachovia Securitieas are now offered through Wells Fargop Advisors.
Wells Fargo (NYSE:WFC) is based in San
Monday, September 12, 2011
LandMar files for bankruptcy - Philadelphia Business Journal:
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The Jacksonville-based residential development company was amon 125 affiliates that filed along with itsparentf company, Charlotte-based , in the Westernn District of Texas. Crescent’s estimated liabilities are morethan $1 according to the filing, and its largesy debt, at $13.6 million, is to Bank of The filing was necessary, accordingb to a statement on Crescent’s Web site, for the compang to reorganize its finances, reduce its debt level and improve its capitaol structure.
Crescent intends to operate its continuingb businesses without any significant interruption duringb the restructuring process because of a recentluyobtained debtor-in-possession financing facility of $110 milliom from a group of its existiny lenders, according to the statement. Andres Hede, Crescent’s chief restructuring officer, has been named CEO while its former chief executive, Arthur Fields, has retired and will work with Crescenyt in an advisory capacity.
“We have been in active discussion s with our lenders and other stakeholders as we work towardsz an agreement that will bring our capitak structure in line with the current economic environment,” Hede said in a statementy on the company’s Web site. Charlotte-based Crescent has been pursuingt alternatives to shore up its balancwe sheetfor months, including selling some of its assets. The companyu is jointly owned by (NYSE: DUK) and Morgamn Stanley and has 38 residentia l communities under development inthe Carolinas, Georgia, Texas, Arizonaa and Florida.
Crescent acquired a controlling interest in LandMaein 1999, but left LandMar’s founder, Ed in control of the companhy until he resigned after a failesd attempt to buy back the company in 2007. The Jacksonvilles Economic Development Commission authorized city lawyers in May to stargt the foreclosure process onthe 41-acre parcelo that was to be the Shipyards. Planz for the Shipyards included 1 million squarde feet ofoffice space, 100,000 square feet of commercialo space, 662 residential units, 350 hotel rooms and 150 marinqa slips. LandMar has developed or had plans to developp dozens more properties in Floridqa and throughoutthe Southeast.
The Jacksonville-based residential development company was amon 125 affiliates that filed along with itsparentf company, Charlotte-based , in the Westernn District of Texas. Crescent’s estimated liabilities are morethan $1 according to the filing, and its largesy debt, at $13.6 million, is to Bank of The filing was necessary, accordingb to a statement on Crescent’s Web site, for the compang to reorganize its finances, reduce its debt level and improve its capitaol structure.
Crescent intends to operate its continuingb businesses without any significant interruption duringb the restructuring process because of a recentluyobtained debtor-in-possession financing facility of $110 milliom from a group of its existiny lenders, according to the statement. Andres Hede, Crescent’s chief restructuring officer, has been named CEO while its former chief executive, Arthur Fields, has retired and will work with Crescenyt in an advisory capacity.
“We have been in active discussion s with our lenders and other stakeholders as we work towardsz an agreement that will bring our capitak structure in line with the current economic environment,” Hede said in a statementy on the company’s Web site. Charlotte-based Crescent has been pursuingt alternatives to shore up its balancwe sheetfor months, including selling some of its assets. The companyu is jointly owned by (NYSE: DUK) and Morgamn Stanley and has 38 residentia l communities under development inthe Carolinas, Georgia, Texas, Arizonaa and Florida.
Crescent acquired a controlling interest in LandMaein 1999, but left LandMar’s founder, Ed in control of the companhy until he resigned after a failesd attempt to buy back the company in 2007. The Jacksonvilles Economic Development Commission authorized city lawyers in May to stargt the foreclosure process onthe 41-acre parcelo that was to be the Shipyards. Planz for the Shipyards included 1 million squarde feet ofoffice space, 100,000 square feet of commercialo space, 662 residential units, 350 hotel rooms and 150 marinqa slips. LandMar has developed or had plans to developp dozens more properties in Floridqa and throughoutthe Southeast.
Saturday, September 10, 2011
Jury awards Centocor $1.7B in patent case against Abbott - St. Louis Business Journal:
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An Abbott spokesman said the compantwill appeal. Horsham, Pa.-based Centocor, a division of makes the blockbuster rheumatoid arthritis treatment and had sued Abbottover Abbott’s arthrities drug, Humira. Both are so-called anti-TNF arthritis treatments. Pa.-based Centocor said it is the exclusive licensee of the whichis co-owned by . Centoco President Kim Taylor said “the jury recognized our valuableintellectuap property, finding our patent both valis and infringed. We will continue to assert intellectuak property rights for ourimmunology therapies, as they offefr significant advances in treatment for patients with a number of immund mediated inflammatory diseases.
” Abbott spokesman Scottg E. Stoffel said, “We are disappointeed in this verdict, and we are confident in the meritss of our case and that we will prevailon “The evidence clearly established that Humira was the first of its kind, fully-human anti-TNF antibody Stoffel said. “JNJ’s anti-TNF antibodgy medication, Remicade, is partially made from mousew DNA. JNJ did not launcyh a fully-human product until April 2009. In only when Humira was nearing its approva l in 2002 did JNJ amend the patent at issue in this litigatiojn to claim that it haddiscoveredx fully-human antibodies in 1994.
JNJ acknowledgeed at trial that it did not start working ona fully-huma n antibody until 1997 — two years after Abbott discovered Humira and one year aftet Abbott filed its patent applications for Humira.”
An Abbott spokesman said the compantwill appeal. Horsham, Pa.-based Centocor, a division of makes the blockbuster rheumatoid arthritis treatment and had sued Abbottover Abbott’s arthrities drug, Humira. Both are so-called anti-TNF arthritis treatments. Pa.-based Centocor said it is the exclusive licensee of the whichis co-owned by . Centoco President Kim Taylor said “the jury recognized our valuableintellectuap property, finding our patent both valis and infringed. We will continue to assert intellectuak property rights for ourimmunology therapies, as they offefr significant advances in treatment for patients with a number of immund mediated inflammatory diseases.
” Abbott spokesman Scottg E. Stoffel said, “We are disappointeed in this verdict, and we are confident in the meritss of our case and that we will prevailon “The evidence clearly established that Humira was the first of its kind, fully-human anti-TNF antibody Stoffel said. “JNJ’s anti-TNF antibodgy medication, Remicade, is partially made from mousew DNA. JNJ did not launcyh a fully-human product until April 2009. In only when Humira was nearing its approva l in 2002 did JNJ amend the patent at issue in this litigatiojn to claim that it haddiscoveredx fully-human antibodies in 1994.
JNJ acknowledgeed at trial that it did not start working ona fully-huma n antibody until 1997 — two years after Abbott discovered Humira and one year aftet Abbott filed its patent applications for Humira.”
Thursday, September 8, 2011
Building business harmony - Baltimore Business Journal:
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Alsop, who became the first female to lead a majord orchestra when accepting the rolein 2005, entered at a time when the BSO was facedr with a $19 million deficit. Her due diligenc forced her tothink "long and about taking the gig -- attendances had been lagging at the Joseph Meyerhoff Symphony Hall, the orchestra hadn't produced a label recordin g in nearly a decade, and possiblew labor unrest with musicians loomed. The BSO'd business struggles resulted in management turnover that eventuallgy saw the hiring of anew CEO.
"I t was such a difficult and odd said Alsop, who was previously principall conductor of the Bournemouth Symphony in the United "I don't run blindly into situations." But for Alsop, 51, she knew the obstaclees would put her in a perfect positionm to create a stir. And so far, the risk has paid off. The BSO celebratedr more than its 25th anniversary last season atthe Meyerhoff: It markedr a new beginning for the 92-year-old orchestra.
The symphony entered the 2007-2008 season free of the debt -- incurred in part by the constructiobn of a new concertvenue -- thanks to a one-time draw from its New management and board leadershil also secured a $1 million grant that helped cut nearly in half the averagre cost of tickets for subscribers. It's a move one industr y expert describes as a strategto "build a new audience base" -- albeit a risky one in the short term. Now the BSO'w brass is looking to build on the with several newcommunity partnerships, fresh musical performances, recordings and a new labor agreement with its musicians.
And, executives are in the earlyt stages of sketching a plan for the futur e of the Baltimoreinstitution -- lookinb to grow its endowmenty by as much as $70 million and refurbishingt the aging Meyerhoff. CEO Paul Meecham took over in October 2006 "with a huge job" on his but today says the BSO is now "very much operatingt as a business." As Alsop leads the musicall side, Meecham and the BSO'ss board are outlining a plan of theit own for the future. The BSO has reserved arounx $13 million from its $63 millioj endowment for potential refurbishments at the Plans include replacingthe roof, upgrading the building's lobby and recoverinb the hall's seats.
Meecham also wants to builc the BSO's connection with the corporate wherethe organization's largest partners alreadu include , , , and T. Rowe Price. He's hoping for 15 percent increases in revenue from both the corporated side andindividual donors. Jesse Rosen, CEO of the New York-basexd League of American Orchestras, said corporat sponsors play a big role in the growthuof symphonies. "It sends a message that the community is involved inthe organization," he said. "It'as a critical piece for any orchestra." Private contribution s make up around 40 percent ofan orchestra's according to data from the Leaguer of American Orchestras.
The BSO had revenuer of $25.6 million in fiscal year 2007. Meecham said the BSO plans to hire a consultant to pen a strategy for raisin g its endowmentby $50 million to $70 That initiative won't be rolled for at leasr another two years, he And one of the biggestf actions will be avoiding another The prior dip into the red stemmerd from a decline in revenue after the Sept. 11, terrorist attacks and subsequent a lack of control over expenses after therevenue drop, and startup expenses for the BSO's Music Center at Strathmorde in North Bethesda. The BSO saw attendance grow atthe 2,443-seat Meyerhoffc by about 13 percent during the 2007-2007 season.
That was in large part thankws to the grant receivedfrom PNC. The awardd came at the righgt time forsymphony leaders, who were in searcy of a way to boost Capacity climbed to 72 percent last which ran from September to June, up from 59 percenr in prior years. Subscription revenuse is already up 20 percentin 2008-20009 to nearly $750,000, leaders say.
Alsop, who became the first female to lead a majord orchestra when accepting the rolein 2005, entered at a time when the BSO was facedr with a $19 million deficit. Her due diligenc forced her tothink "long and about taking the gig -- attendances had been lagging at the Joseph Meyerhoff Symphony Hall, the orchestra hadn't produced a label recordin g in nearly a decade, and possiblew labor unrest with musicians loomed. The BSO'd business struggles resulted in management turnover that eventuallgy saw the hiring of anew CEO.
"I t was such a difficult and odd said Alsop, who was previously principall conductor of the Bournemouth Symphony in the United "I don't run blindly into situations." But for Alsop, 51, she knew the obstaclees would put her in a perfect positionm to create a stir. And so far, the risk has paid off. The BSO celebratedr more than its 25th anniversary last season atthe Meyerhoff: It markedr a new beginning for the 92-year-old orchestra.
The symphony entered the 2007-2008 season free of the debt -- incurred in part by the constructiobn of a new concertvenue -- thanks to a one-time draw from its New management and board leadershil also secured a $1 million grant that helped cut nearly in half the averagre cost of tickets for subscribers. It's a move one industr y expert describes as a strategto "build a new audience base" -- albeit a risky one in the short term. Now the BSO'w brass is looking to build on the with several newcommunity partnerships, fresh musical performances, recordings and a new labor agreement with its musicians.
And, executives are in the earlyt stages of sketching a plan for the futur e of the Baltimoreinstitution -- lookinb to grow its endowmenty by as much as $70 million and refurbishingt the aging Meyerhoff. CEO Paul Meecham took over in October 2006 "with a huge job" on his but today says the BSO is now "very much operatingt as a business." As Alsop leads the musicall side, Meecham and the BSO'ss board are outlining a plan of theit own for the future. The BSO has reserved arounx $13 million from its $63 millioj endowment for potential refurbishments at the Plans include replacingthe roof, upgrading the building's lobby and recoverinb the hall's seats.
Meecham also wants to builc the BSO's connection with the corporate wherethe organization's largest partners alreadu include , , , and T. Rowe Price. He's hoping for 15 percent increases in revenue from both the corporated side andindividual donors. Jesse Rosen, CEO of the New York-basexd League of American Orchestras, said corporat sponsors play a big role in the growthuof symphonies. "It sends a message that the community is involved inthe organization," he said. "It'as a critical piece for any orchestra." Private contribution s make up around 40 percent ofan orchestra's according to data from the Leaguer of American Orchestras.
The BSO had revenuer of $25.6 million in fiscal year 2007. Meecham said the BSO plans to hire a consultant to pen a strategy for raisin g its endowmentby $50 million to $70 That initiative won't be rolled for at leasr another two years, he And one of the biggestf actions will be avoiding another The prior dip into the red stemmerd from a decline in revenue after the Sept. 11, terrorist attacks and subsequent a lack of control over expenses after therevenue drop, and startup expenses for the BSO's Music Center at Strathmorde in North Bethesda. The BSO saw attendance grow atthe 2,443-seat Meyerhoffc by about 13 percent during the 2007-2007 season.
That was in large part thankws to the grant receivedfrom PNC. The awardd came at the righgt time forsymphony leaders, who were in searcy of a way to boost Capacity climbed to 72 percent last which ran from September to June, up from 59 percenr in prior years. Subscription revenuse is already up 20 percentin 2008-20009 to nearly $750,000, leaders say.
Tuesday, September 6, 2011
Neutral Factfinder Rules That Fresno County Home Care Wage Cuts Should Be Stopped
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June 12 /PRNewswire-USNewswire/ -- An independent factfindee jointly hired by Fresno County and SEIU UHW to resolvethe on-going disputwe over the County's plan to cut the wagex and benefits of 10,00o0 home care workers in the Fresno area, ruledf against the County today and ordered that the cuts be The Fresno Board of Supervisors is expectex to vote whether to accept the findingz on Tuesday. SEIU UHW invoked theit right to arbitration after the Board of Supervisora voted to reduce the wages and benefits of homecare This is the second factfindinhg that has ruled againstthe County's planned According to the factfinder there is "no necessity for a reduction in wage/benefir levels and therefore there should be no change in such levels.
" He ordered the County to adoprt the report immediately. The factfinder ruled that Fresnko County will receive enougg additional money through the economic stimulus to offse t any reductions in revenue the County is currently According to thefactfinder "the County will benefit substantially by the retroactive increase of federal funding to October, 2008." ARRA has alreadt made available close to $2 billion of the Federal Medica l Assistance Percentage (FMAP) promised to California. The funding provides much needee financial assistance for counties struggling with hugebudget deficits. SEIU has also filex for an emergency injunction to stop the cuts from going into effectg onJuly 1st.
The lawsuit, which was brought on behalfc of individual consumersand SEIU, argues that the planned cuts put seniors and people with disabilitiesd at risk and violate the Americans with Disabilitieds Act, the Rehabilitation Act, and federal Medicaird Law. California's In-Home Supportive Services programn provides vital services to manyof California's most vulnerablew citizens. The services providedd by home care workers allow the elderly and people with disabilitiees to remain safely in their homes, reducing the need for more restrictivew and costly institutional care - resulting in more than $1 billiom in annual savings to the State of California.
SEIU UHW representss more than 150,000 healthcare workers acros s California and our membersprovide first-rate care to milliond of Californians. We are a proud affiliate of the2 million+ member Service Employees International Union (SEIU). Learn more at
June 12 /PRNewswire-USNewswire/ -- An independent factfindee jointly hired by Fresno County and SEIU UHW to resolvethe on-going disputwe over the County's plan to cut the wagex and benefits of 10,00o0 home care workers in the Fresno area, ruledf against the County today and ordered that the cuts be The Fresno Board of Supervisors is expectex to vote whether to accept the findingz on Tuesday. SEIU UHW invoked theit right to arbitration after the Board of Supervisora voted to reduce the wages and benefits of homecare This is the second factfindinhg that has ruled againstthe County's planned According to the factfinder there is "no necessity for a reduction in wage/benefir levels and therefore there should be no change in such levels.
" He ordered the County to adoprt the report immediately. The factfinder ruled that Fresnko County will receive enougg additional money through the economic stimulus to offse t any reductions in revenue the County is currently According to thefactfinder "the County will benefit substantially by the retroactive increase of federal funding to October, 2008." ARRA has alreadt made available close to $2 billion of the Federal Medica l Assistance Percentage (FMAP) promised to California. The funding provides much needee financial assistance for counties struggling with hugebudget deficits. SEIU has also filex for an emergency injunction to stop the cuts from going into effectg onJuly 1st.
The lawsuit, which was brought on behalfc of individual consumersand SEIU, argues that the planned cuts put seniors and people with disabilitiesd at risk and violate the Americans with Disabilitieds Act, the Rehabilitation Act, and federal Medicaird Law. California's In-Home Supportive Services programn provides vital services to manyof California's most vulnerablew citizens. The services providedd by home care workers allow the elderly and people with disabilitiees to remain safely in their homes, reducing the need for more restrictivew and costly institutional care - resulting in more than $1 billiom in annual savings to the State of California.
SEIU UHW representss more than 150,000 healthcare workers acros s California and our membersprovide first-rate care to milliond of Californians. We are a proud affiliate of the2 million+ member Service Employees International Union (SEIU). Learn more at
Saturday, September 3, 2011
Ascension Insurance buys three California agencies - Orlando Business Journal:
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The Kansas City-based company bought of Santa Monica, which specializes in placement and administration support of student healtuinsurance programs; of Walnut Creek, which providesd employee benefits, retirement services and HR outsourcing primarilyu for nonprofits; and Inc. of Agoura Hills, whicb specializes in administration of student health including intercollegiate sportsinjury programs. Overall, the acquisitions will bring Ascension’sd annual revenue to abour $75 million, ranking it among the nation’s biggest 35 agencies, Ascension CEO Leonardc Kline said inan interview. The companyu said it had $55 million in revenue in after its inFort Fla.
Ascension now has more than 400 employees at 20 officelocationzs nationwide. “The acquisitions ... represent a valuable opportunity for us to expand our West Coastf operations and to fulfill our goal of providinthe best-quality expertise, markets and resourcez to the middle market,” Klinde said. “Each organization brings uniqude capabilities to our growing portfoliio ofinsurance agencies, as well as dedicatedc employees who share our mission to providwe outstanding service to our customerse in California and throughouy the United States.” Kline said the deal closed Thursda y afternoon.
Ascension is a full-service insurance and employeee benefits agency providing brokerageand risk-management serviced to middle-market companies nationwide. Ascensiohn has been a active in the mergersd and acquisition market since it was founded from scratch inAugust 2007, makingg . The company is assisted by funds from its privatreequity partners, and . The goal is to increass the company’s annual revenue to $200 millionh within the next five years.
The Kansas City-based company bought of Santa Monica, which specializes in placement and administration support of student healtuinsurance programs; of Walnut Creek, which providesd employee benefits, retirement services and HR outsourcing primarilyu for nonprofits; and Inc. of Agoura Hills, whicb specializes in administration of student health including intercollegiate sportsinjury programs. Overall, the acquisitions will bring Ascension’sd annual revenue to abour $75 million, ranking it among the nation’s biggest 35 agencies, Ascension CEO Leonardc Kline said inan interview. The companyu said it had $55 million in revenue in after its inFort Fla.
Ascension now has more than 400 employees at 20 officelocationzs nationwide. “The acquisitions ... represent a valuable opportunity for us to expand our West Coastf operations and to fulfill our goal of providinthe best-quality expertise, markets and resourcez to the middle market,” Klinde said. “Each organization brings uniqude capabilities to our growing portfoliio ofinsurance agencies, as well as dedicatedc employees who share our mission to providwe outstanding service to our customerse in California and throughouy the United States.” Kline said the deal closed Thursda y afternoon.
Ascension is a full-service insurance and employeee benefits agency providing brokerageand risk-management serviced to middle-market companies nationwide. Ascensiohn has been a active in the mergersd and acquisition market since it was founded from scratch inAugust 2007, makingg . The company is assisted by funds from its privatreequity partners, and . The goal is to increass the company’s annual revenue to $200 millionh within the next five years.
Thursday, September 1, 2011
Manpower: 6% of Honolulu employers to hire in 3Q - Charlotte Business Journal:
ycoguqi.wordpress.com
From July to September, 6 percent of the companiesx interviewed in the Honolulu metro area plan to hire more while 11 percent expect to reduce their according to the surveyfrom Milwaukee-based MAN). Seventy-eight percent expectr to maintain their current staff levels and 5 percent remaijn uncertain abouthiring plans. Hiring is expectefd to be a little lighter than in the second when 10 percent of companies surveyed planned to hire and 12 percenft expected to cut said Manpower spokeswoman Mary Lou For thecoming quarter, job prospects in the Honolulu area appear best in wholesale and retaiol trade and leisure and hospitality.
Employers in durable goods nondurablegoods manufacturing, information, professional and business education and health services and government intenr to cut staffing. Hirin in construction, transportation and utilities, financial activities and otheer services is expected to remain National survey results showed little change from theseconde quarter. Of the more than 28,000 employers surveyed acrosszthe country, 15 percent expect to increase thei staff levels during the third quarter, whilwe 13 percent expect to reduce their Sixty-seven percent expect no change in hirinbg and 5 percent are undecided about their third-quarter hiring plans.
“The data shows continuee hesitancyamong employers,” said Jonas president of the Americas for “They are treading slowly and watching with guardedd optimism, hoping a few quarters of stability will be the precursor to the
From July to September, 6 percent of the companiesx interviewed in the Honolulu metro area plan to hire more while 11 percent expect to reduce their according to the surveyfrom Milwaukee-based MAN). Seventy-eight percent expectr to maintain their current staff levels and 5 percent remaijn uncertain abouthiring plans. Hiring is expectefd to be a little lighter than in the second when 10 percent of companies surveyed planned to hire and 12 percenft expected to cut said Manpower spokeswoman Mary Lou For thecoming quarter, job prospects in the Honolulu area appear best in wholesale and retaiol trade and leisure and hospitality.
Employers in durable goods nondurablegoods manufacturing, information, professional and business education and health services and government intenr to cut staffing. Hirin in construction, transportation and utilities, financial activities and otheer services is expected to remain National survey results showed little change from theseconde quarter. Of the more than 28,000 employers surveyed acrosszthe country, 15 percent expect to increase thei staff levels during the third quarter, whilwe 13 percent expect to reduce their Sixty-seven percent expect no change in hirinbg and 5 percent are undecided about their third-quarter hiring plans.
“The data shows continuee hesitancyamong employers,” said Jonas president of the Americas for “They are treading slowly and watching with guardedd optimism, hoping a few quarters of stability will be the precursor to the
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