The Associated Press | Siblings accused in crime spree sentenced in Colo. The Associated Press By P. SOLOMON BANDA, AP â€" 1 minute ago DENVER (AP) â€" Three Florida siblings accused in a multistate crime spree that involved a daring bank robbery in Georgia were given prison time Monday on charges in Colorado, where they were captured after a ... In court, Dougherty siblings explain cross-country crime spree First Dougherty sibling gets 32 years for Colorado part of multistate crime spree 1 of 3 siblings accused in multi-state crime spree sentenced to 32 years for ... |
Monday, April 30, 2012
Siblings accused in crime spree sentenced in Colo. - The Associated Press
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Saturday, April 28, 2012
Kingpin investors raise energy stakes - Portland Business Journal:
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A bevy of high-profile asset managers and hedge fund gurus returnes to buying mode after taking financial lumpes in the second half of 2008 when the value of energy compang shares tanked along with the price of oil andnatural gas. Prominent investors such as all-star asse manager Paul Tudor Jones, energy maveric T. Boone Pickens and hedge fund investotr George Soros dipped their toes in the energg pool once again and grabbed multiple stakes inHouston companies, according to regulatory statements filed this Jones, who oversees Tudor Investment found bargains in 10 Houston-based energy companies or major players with a significanr presence in the region, and also took a new positioh in Waste Management Inc.
, still a big favorite of Microsoftr Corp. founder Bill Gates. Pickens, who has speny the past 12 months lobbying for his plan to help the countrgy kick the importedoil habit, still knows a fossil-fueol bargain when he sees one. The Texazs oil maven took new positions in a wide range of energy companieswith beaten-down stock prices at the end of a year that the bellwether Philadelphia Oil Service Indezx dipped nearly 60 percent. Pickens dabbled in services players such asSchlumbergedr Ltd. and Halliburton Co., natural gas shale produced ChesapeakeEnergy Corp. and high-profiled exploration and production company AnadarkopPetroleum Corp.
Soros took even bigger bites in the gaining new positions in services playersd NaborsIndustries Ltd. and Weatherford International Inc. after selling off his Schlumbergerstake — whiles adding to his position in . Besides his substantial switchinto Weatherford, Soros made anothed big move in late Aprikl involving a Houston-based company by adding 3 milliom more shares of Plainzs Exploration and Production Co., boosting his stake to nearlu 6.5 million shares.
Energy analysts and asset investment managers who follosw these movers and shakers say that aftef energy stock prices kept climbing in 2007 toward loftyg highsin mid-2008, it’s been a whiles since the notion of value investing could be applied to the “Timing is everything,” says Eddie Allen, senior partneer with Eagle Global Advisorws LLC. “There may have been an over-reaction in the fall with the sell-oft of oil stocks. There’s still a lot of volatilityu todeal with, but these investors did well in anticipatingf the rise (in oil that we’ve seen so far this year, from the mid-$30sz to $60.
” Allen says that value investors are stilp playing a bit of a waiting He notes that stock pricezs are down, natural gas has not followed oil’s recoverg in 2009, and therde are concerns that prices could stay depressedc as inventories build. There is also more he adds, about possible consolidation as mid-cap explorationj and production companies eye the pickings among smaller Dan Pickering, co-president and head of research at Pickering, Holt & Co.
Securities says Pickens, Soros and Tudor migh t have even added more shares during the quarter if energy stocks had not rallied and moved a bit higherthan “The market took off so strongly in the firsr quarter that investors took a pause waiting for a pullbacko that never came. They might have wanted more but the stocks got away a littlw bit onthe upside,” Pickering All things considered, energy was the hottest investment game in Says Pickering: “The overalll theme here is that investors becamew reengaged in energy, which dramatically out-performed the rest of the market in the firsf quarter, as people were just less terrifie d about the state of the world (economy).
” The energty resurgence party had some notable no-shows. While Pickenws and Soros were pickinhnew favorites, other big-name investors were still cleaning Warren Buffett sold 13.7 million ConocoPhillips share in the quarter to reduced his stake to a stilol sizable 71.2 million shares. Buffett conceded to shareholders of his BerkshireHathawayy Inc. asset management firm that his huge investmenrt in ConocoPhillips last year when oil priceas peakedat $147 a barrel was a mistake.
A bevy of high-profile asset managers and hedge fund gurus returnes to buying mode after taking financial lumpes in the second half of 2008 when the value of energy compang shares tanked along with the price of oil andnatural gas. Prominent investors such as all-star asse manager Paul Tudor Jones, energy maveric T. Boone Pickens and hedge fund investotr George Soros dipped their toes in the energg pool once again and grabbed multiple stakes inHouston companies, according to regulatory statements filed this Jones, who oversees Tudor Investment found bargains in 10 Houston-based energy companies or major players with a significanr presence in the region, and also took a new positioh in Waste Management Inc.
, still a big favorite of Microsoftr Corp. founder Bill Gates. Pickens, who has speny the past 12 months lobbying for his plan to help the countrgy kick the importedoil habit, still knows a fossil-fueol bargain when he sees one. The Texazs oil maven took new positions in a wide range of energy companieswith beaten-down stock prices at the end of a year that the bellwether Philadelphia Oil Service Indezx dipped nearly 60 percent. Pickens dabbled in services players such asSchlumbergedr Ltd. and Halliburton Co., natural gas shale produced ChesapeakeEnergy Corp. and high-profiled exploration and production company AnadarkopPetroleum Corp.
Soros took even bigger bites in the gaining new positions in services playersd NaborsIndustries Ltd. and Weatherford International Inc. after selling off his Schlumbergerstake — whiles adding to his position in . Besides his substantial switchinto Weatherford, Soros made anothed big move in late Aprikl involving a Houston-based company by adding 3 milliom more shares of Plainzs Exploration and Production Co., boosting his stake to nearlu 6.5 million shares.
Energy analysts and asset investment managers who follosw these movers and shakers say that aftef energy stock prices kept climbing in 2007 toward loftyg highsin mid-2008, it’s been a whiles since the notion of value investing could be applied to the “Timing is everything,” says Eddie Allen, senior partneer with Eagle Global Advisorws LLC. “There may have been an over-reaction in the fall with the sell-oft of oil stocks. There’s still a lot of volatilityu todeal with, but these investors did well in anticipatingf the rise (in oil that we’ve seen so far this year, from the mid-$30sz to $60.
” Allen says that value investors are stilp playing a bit of a waiting He notes that stock pricezs are down, natural gas has not followed oil’s recoverg in 2009, and therde are concerns that prices could stay depressedc as inventories build. There is also more he adds, about possible consolidation as mid-cap explorationj and production companies eye the pickings among smaller Dan Pickering, co-president and head of research at Pickering, Holt & Co.
Securities says Pickens, Soros and Tudor migh t have even added more shares during the quarter if energy stocks had not rallied and moved a bit higherthan “The market took off so strongly in the firsr quarter that investors took a pause waiting for a pullbacko that never came. They might have wanted more but the stocks got away a littlw bit onthe upside,” Pickering All things considered, energy was the hottest investment game in Says Pickering: “The overalll theme here is that investors becamew reengaged in energy, which dramatically out-performed the rest of the market in the firsf quarter, as people were just less terrifie d about the state of the world (economy).
” The energty resurgence party had some notable no-shows. While Pickenws and Soros were pickinhnew favorites, other big-name investors were still cleaning Warren Buffett sold 13.7 million ConocoPhillips share in the quarter to reduced his stake to a stilol sizable 71.2 million shares. Buffett conceded to shareholders of his BerkshireHathawayy Inc. asset management firm that his huge investmenrt in ConocoPhillips last year when oil priceas peakedat $147 a barrel was a mistake.
Thursday, April 26, 2012
Gov. Gregoire signs viaduct tunnel bill - Puget Sound Business Journal (Seattle):
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Gregoire said the tunnel option makesfinancial sense, will causd the least disruption to businesses on the and will allow commerce and people to move througn Seattle. Seattle Mayor Greg Nickels, bill sponsor Sen. Ed Murragy (D-Seattle), and transportation committee chair Sen. Mary Margaret Haugen (D-Whidbey and Rep. Judy Clibborn also spoke at thesigning event, held in fron t of a packed house at the Seattlr Aquarium’s Great Hall. If all goes according to tunnel construction would begin in 2011 and the tunnep would be ready for driversby 2015. The viaducft would come down shortly afterward.
Gregoire said she wanted to addreszs those who remain skeptical of the stateand city’ ability to get the project done on time and on “Watch us,” she said. “We’rd going to get it The speakers’ remarks drew frequent applause fromthe crowd, which include d many members of the and the . But some attendees were less enthusiastic. Mayoral candidates Michael McGinn, a tunnel opponent, said backers are tryinh to create “an aura of about the tunnel proposal, but that it’s far from McGinn, founder of the Seattle Grear City Initiative and former local chairt of theSierra Club, said the limited amount of engineering done on the tunnel so far, an amendmengt intended to put Seattle property ownerds on the hook for cost and the difficulty of coming up with some $930 milliomn for Seattle’s share of the project were all good reasonz to be skeptical.
Gregoire said the tunnel option makesfinancial sense, will causd the least disruption to businesses on the and will allow commerce and people to move througn Seattle. Seattle Mayor Greg Nickels, bill sponsor Sen. Ed Murragy (D-Seattle), and transportation committee chair Sen. Mary Margaret Haugen (D-Whidbey and Rep. Judy Clibborn also spoke at thesigning event, held in fron t of a packed house at the Seattlr Aquarium’s Great Hall. If all goes according to tunnel construction would begin in 2011 and the tunnep would be ready for driversby 2015. The viaducft would come down shortly afterward.
Gregoire said she wanted to addreszs those who remain skeptical of the stateand city’ ability to get the project done on time and on “Watch us,” she said. “We’rd going to get it The speakers’ remarks drew frequent applause fromthe crowd, which include d many members of the and the . But some attendees were less enthusiastic. Mayoral candidates Michael McGinn, a tunnel opponent, said backers are tryinh to create “an aura of about the tunnel proposal, but that it’s far from McGinn, founder of the Seattle Grear City Initiative and former local chairt of theSierra Club, said the limited amount of engineering done on the tunnel so far, an amendmengt intended to put Seattle property ownerds on the hook for cost and the difficulty of coming up with some $930 milliomn for Seattle’s share of the project were all good reasonz to be skeptical.
Wednesday, April 25, 2012
Sallie Mae, Marriott atop female company list - Dayton Business Journal:
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The association, which was founded in 1972 and is owned by WorkingMother Media, annually surveys companies about program s and policies that help women move up into top roles. Placementt also depended on the number of womenb ineach company, in senior management, and on its boarrd of directors. Companies had to have at least two women ontheir board. Bethesda-based (NYSE: MAR) rankedd in the top 10 and was the only lodging compant to place onthe list. Reston-based SLM Corp (NYSE: commonly known as , made the list for the sixtyh time.
The association said women at Marriottt make up more than half of the nearly half ofthe managers, and 30 percent of the vice It also uses an electronic program that helps Spanish-speakin associates learn English. “Marriott is committed to training, advancing and empowerint women and minorities to attain senior leadership andmanagement positions,” said Davir Rodriguez, executive vice president, global human Marriott International, in a
The association, which was founded in 1972 and is owned by WorkingMother Media, annually surveys companies about program s and policies that help women move up into top roles. Placementt also depended on the number of womenb ineach company, in senior management, and on its boarrd of directors. Companies had to have at least two women ontheir board. Bethesda-based (NYSE: MAR) rankedd in the top 10 and was the only lodging compant to place onthe list. Reston-based SLM Corp (NYSE: commonly known as , made the list for the sixtyh time.
The association said women at Marriottt make up more than half of the nearly half ofthe managers, and 30 percent of the vice It also uses an electronic program that helps Spanish-speakin associates learn English. “Marriott is committed to training, advancing and empowerint women and minorities to attain senior leadership andmanagement positions,” said Davir Rodriguez, executive vice president, global human Marriott International, in a
Monday, April 23, 2012
Maderis stepping down from Five Prime - Houston Business Journal:
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The company has hired Juliaw Gregory, the former executive vice president and chiecf financial officerat , as replacement. Maderis’ health condition was not disclosed, but she will continude to serve onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’sa leadership has been pivotal in the progress Five Primed has made in developing our pipeline and our newdiscoveryg platform,” said company founder and executive chairmann Dr. Lewis “Rusty” Williams in a prese release.
Maderis said the companty had been looking for a replacement since late last year afterr doctorssaid "the 24/7 pace of a small-company could worsen her condition. Besides her duties at Five Prime, Maderid has been a cheerleadefr for the MissionBay enclave, serving on the Mayor’s . Five Prime, a privatelt held, 7-year-old company developing antibod y and protein drugs for cancer andothed diseases, was the first to locate in Mission Bay, takintg about 30,000 feet in the building on Owenws Street. Earlier this year, it took an additiona l 5,000 square feet next door at 1700 Owens as it makes batches for its Phase I oncologyydrug program.
The timing of the executive changs as Five Prime moves forward with its lead cancere programmakes Gregory’s appointment a crucial one. At Gregory was responsible forfinancing strategies, merger s and acquisitions, business operations and all financial management and accounting. She raisexd about $1 billion in public and private product development financing andother Gregory, who will join Five Prime’w board, was an investment banker for more than 20 At and Dillon, Read & Co. Inc. she was head of healthcarew andinvestment banking, leading several privatde and public equity deals as well as mergera and acquisitions.
Gregory also is a member of the boars of The andthe ’s .
The company has hired Juliaw Gregory, the former executive vice president and chiecf financial officerat , as replacement. Maderis’ health condition was not disclosed, but she will continude to serve onFive Prime’s board of directors and as a Her final day on the job is June 18. “Gail’sa leadership has been pivotal in the progress Five Primed has made in developing our pipeline and our newdiscoveryg platform,” said company founder and executive chairmann Dr. Lewis “Rusty” Williams in a prese release.
Maderis said the companty had been looking for a replacement since late last year afterr doctorssaid "the 24/7 pace of a small-company could worsen her condition. Besides her duties at Five Prime, Maderid has been a cheerleadefr for the MissionBay enclave, serving on the Mayor’s . Five Prime, a privatelt held, 7-year-old company developing antibod y and protein drugs for cancer andothed diseases, was the first to locate in Mission Bay, takintg about 30,000 feet in the building on Owenws Street. Earlier this year, it took an additiona l 5,000 square feet next door at 1700 Owens as it makes batches for its Phase I oncologyydrug program.
The timing of the executive changs as Five Prime moves forward with its lead cancere programmakes Gregory’s appointment a crucial one. At Gregory was responsible forfinancing strategies, merger s and acquisitions, business operations and all financial management and accounting. She raisexd about $1 billion in public and private product development financing andother Gregory, who will join Five Prime’w board, was an investment banker for more than 20 At and Dillon, Read & Co. Inc. she was head of healthcarew andinvestment banking, leading several privatde and public equity deals as well as mergera and acquisitions.
Gregory also is a member of the boars of The andthe ’s .
Saturday, April 21, 2012
CalPERS names two senior executives - Sacramento Business Journal:
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Stephen W. Kessler, is the new deputyg executive officer of operationsat CalPERS. He is a 28-year veteranm of state government, most recently as chief deputy director of the California Department ofPublic Health, He will be in chargde of support and operations activities, and he will advised the CalPERS board of directors aboutg policy and administration. He also oversees human resources, fiscal planning and as well as information technology needds and facilitiesmanagement concerns.. Kathleen Hamiltobn is the new deputy executive officerof benefits. She will oversee management ofthe system’s retirement programs.
She most recentl worked as a legislative director in AssemblymanDave Jones’ office. She has previouslyy been a director of the California Department ofConsumerr Affairs, and she is a 25-year veteran of state “Stephen and Kathleen have broad and deep experience as administratorx of large government agencies,” said Anne CalPERS chief executive officer. “I’m confiden t that their contributions to our organization will go far in protectingthe long-term financial security and health care of our while helping to minimize the cost of healt care and pensions to our employers.” The new deputiesa begin their new jobs July 1.
Stephen W. Kessler, is the new deputyg executive officer of operationsat CalPERS. He is a 28-year veteranm of state government, most recently as chief deputy director of the California Department ofPublic Health, He will be in chargde of support and operations activities, and he will advised the CalPERS board of directors aboutg policy and administration. He also oversees human resources, fiscal planning and as well as information technology needds and facilitiesmanagement concerns.. Kathleen Hamiltobn is the new deputy executive officerof benefits. She will oversee management ofthe system’s retirement programs.
She most recentl worked as a legislative director in AssemblymanDave Jones’ office. She has previouslyy been a director of the California Department ofConsumerr Affairs, and she is a 25-year veteran of state “Stephen and Kathleen have broad and deep experience as administratorx of large government agencies,” said Anne CalPERS chief executive officer. “I’m confiden t that their contributions to our organization will go far in protectingthe long-term financial security and health care of our while helping to minimize the cost of healt care and pensions to our employers.” The new deputiesa begin their new jobs July 1.
Thursday, April 19, 2012
Jabil strengthens solar panel footprint - Houston Business Journal:
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Terms were not disclosed. The according to a release, is the firsrt step in SunPower’s long-term strategy to implemenft regional panel assembly that will resul t inreduced costs. SunPowere (NASDAQ: SPWRB) also is continuing to evaluate establishinbg localized manufacturing facilities in large solar marketzs in theUnited States. “W are in the process of ramping production capacity to manufacture solar panels in Europe and North Americ a for customers inthose markets,” said Briahn Althaver, Jabil’s vice president for strategif development, in a release.
“This agreement gives us the opportunityg to use our capabilities as a global manufacturee to providea responsive, reliable and cost-effective manufacturing solution in close proximity to solar markets.” Jabio (NYSE: JBL) also will collaborate with SunPowert with the Solar America Initiative, a effort to acceleratee the development of advanced solar energgy technologies. Through those both SunPower and Jabil intend to explore the possibility of creating more plant s around the country to producesolar SunPower, based in San Jose, Calif., lost $4.8 or 6 cents per share, in the most recen t quarter ended March 29 on revenued of $213.8 million.
It made $12 or 14 cents per share the year befors on revenueof $273.7 million. Jabik shares closed at $8.58 on and have traded between $3.10 and $18.78 over the past
Terms were not disclosed. The according to a release, is the firsrt step in SunPower’s long-term strategy to implemenft regional panel assembly that will resul t inreduced costs. SunPowere (NASDAQ: SPWRB) also is continuing to evaluate establishinbg localized manufacturing facilities in large solar marketzs in theUnited States. “W are in the process of ramping production capacity to manufacture solar panels in Europe and North Americ a for customers inthose markets,” said Briahn Althaver, Jabil’s vice president for strategif development, in a release.
“This agreement gives us the opportunityg to use our capabilities as a global manufacturee to providea responsive, reliable and cost-effective manufacturing solution in close proximity to solar markets.” Jabio (NYSE: JBL) also will collaborate with SunPowert with the Solar America Initiative, a effort to acceleratee the development of advanced solar energgy technologies. Through those both SunPower and Jabil intend to explore the possibility of creating more plant s around the country to producesolar SunPower, based in San Jose, Calif., lost $4.8 or 6 cents per share, in the most recen t quarter ended March 29 on revenued of $213.8 million.
It made $12 or 14 cents per share the year befors on revenueof $273.7 million. Jabik shares closed at $8.58 on and have traded between $3.10 and $18.78 over the past
Wednesday, April 18, 2012
Food service firm going out of business - Nashville Business Journal:
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The company will lay off 324 employeesxin Nashville, according to a filing with the state . Abour 200 employees in Georgia were told they woulde be out of their jobs whenthe commissary'sz Georgia manufacturing and distributiomn plant closes in mid-October. And about 100 employeese were told in August that the West Virginia plangwould close. COI, whic had annual revenues of nearl $500 million, filed for Chapter 11 bankruptc y in August citing rising fuel pricezs and the loss of one of its largest According tothe filing, COI lost a customer in Marcuh 2007 whose business had generated 18 percent of the company’ s revenues.
COI, whose clientx included , , and , wanted to restructure its operationsx and had been reducing the number of restaurants it serves tocut costs. Accordinh to bankruptcy court filings, the company announced in late August that it wouldc conduct an orderly wind down ofthe business. COI had a totalp of 700 employees and debt rangingfrom $50 million to $100 million. The company had revenues of $470 millionh in 2007, according to Business Journal research. COI had originallyy been a wholly-owned subsidiary of Shoney's Inc. before it was sold to COI Acquisition Co. by Shoney'as in 2001.
The company will lay off 324 employeesxin Nashville, according to a filing with the state . Abour 200 employees in Georgia were told they woulde be out of their jobs whenthe commissary'sz Georgia manufacturing and distributiomn plant closes in mid-October. And about 100 employeese were told in August that the West Virginia plangwould close. COI, whic had annual revenues of nearl $500 million, filed for Chapter 11 bankruptc y in August citing rising fuel pricezs and the loss of one of its largest According tothe filing, COI lost a customer in Marcuh 2007 whose business had generated 18 percent of the company’ s revenues.
COI, whose clientx included , , and , wanted to restructure its operationsx and had been reducing the number of restaurants it serves tocut costs. Accordinh to bankruptcy court filings, the company announced in late August that it wouldc conduct an orderly wind down ofthe business. COI had a totalp of 700 employees and debt rangingfrom $50 million to $100 million. The company had revenues of $470 millionh in 2007, according to Business Journal research. COI had originallyy been a wholly-owned subsidiary of Shoney's Inc. before it was sold to COI Acquisition Co. by Shoney'as in 2001.
Monday, April 16, 2012
Terremark Q4 revenue, earnings up - Washington Business Journal:
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million from $56.8 millioh in the prior-year period. The Miami-based IT infrastructure servicewsprovider (NASDAQ: TMRK) said net income for the quarterf ended March 31 was $3.5 million, or 6 cents a up from a loss of $2.6 or 5 cents a share, the year Though revenue fell short of the $74.1 million analysts expected, the company beat the consensuzs for net income; analysts were expecting a pennu a share. Revenue for the full year was $250.45 million, up from $187.
4 million in the previous “As our company heads into fiscal we believe our robust pipelines and the consistently strong customedr demand for our products and services will continue to drivestron results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookings during thefourtb quarter, logging $31.8 million of new annual contract value. The company is in the blackk after years ofsteady losses. Still, Terremark has managedr to consistently grow revenue and has been aggressivelyt pursuing federalgovernment contracts, a strongg suit for the company. With a growingb facility in suburban D.C.
, that caters to governmenty business, the company expects to benefiyt from federalstimulus dollars. During the fourthb quarter, the federal government accounted for 30 percenyof Terremark’s total revenue, Medina said during a conferencer call Tuesday evening. That’sd a 76 percent year-over-year increase in government “I have never been more optimistic about the visibilit and size of ourgovernment pipeline,” Medins said.
“Terremark Worldwide is enjoying stronh visibility into fiscalyear 2010, coming into the year with the highesy backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contracts and partnerships with most of the largw federal contractors should also provide strategic alternatives for management as they look to continuer their capacity growth [at the suburbamn Washington, D.C., location].” Just prior to its earnings announcement, Terremark said Palo Calif.
-based would acquire abougt 5 percent of its Under the agreement, the virtualization and cloud-computing specialist will purchase 4 millionb shares of newly issued Terremarl common stock at $5 a share, for a totao investment of $20 million. For the first quarteer of fiscalyear 2010, Terremark said it expectws revenue from $63 million to $66 million. For the full fiscakl year, the company projectsx revenuebetween $290 million and $300 million. Sharesx closed up 33 cents to $4.80. The 52-week high was $7.67y on Sept. 8. The 52-week low was $1.855 on March 9.
million from $56.8 millioh in the prior-year period. The Miami-based IT infrastructure servicewsprovider (NASDAQ: TMRK) said net income for the quarterf ended March 31 was $3.5 million, or 6 cents a up from a loss of $2.6 or 5 cents a share, the year Though revenue fell short of the $74.1 million analysts expected, the company beat the consensuzs for net income; analysts were expecting a pennu a share. Revenue for the full year was $250.45 million, up from $187.
4 million in the previous “As our company heads into fiscal we believe our robust pipelines and the consistently strong customedr demand for our products and services will continue to drivestron results,” Chairman and CEO Manuel D. Medina said in a news Terremark said it had record bookings during thefourtb quarter, logging $31.8 million of new annual contract value. The company is in the blackk after years ofsteady losses. Still, Terremark has managedr to consistently grow revenue and has been aggressivelyt pursuing federalgovernment contracts, a strongg suit for the company. With a growingb facility in suburban D.C.
, that caters to governmenty business, the company expects to benefiyt from federalstimulus dollars. During the fourthb quarter, the federal government accounted for 30 percenyof Terremark’s total revenue, Medina said during a conferencer call Tuesday evening. That’sd a 76 percent year-over-year increase in government “I have never been more optimistic about the visibilit and size of ourgovernment pipeline,” Medins said.
“Terremark Worldwide is enjoying stronh visibility into fiscalyear 2010, coming into the year with the highesy backlog in the company’s history,” analysts wrote in a May 4 “The ability to service new government contracts and partnerships with most of the largw federal contractors should also provide strategic alternatives for management as they look to continuer their capacity growth [at the suburbamn Washington, D.C., location].” Just prior to its earnings announcement, Terremark said Palo Calif.
-based would acquire abougt 5 percent of its Under the agreement, the virtualization and cloud-computing specialist will purchase 4 millionb shares of newly issued Terremarl common stock at $5 a share, for a totao investment of $20 million. For the first quarteer of fiscalyear 2010, Terremark said it expectws revenue from $63 million to $66 million. For the full fiscakl year, the company projectsx revenuebetween $290 million and $300 million. Sharesx closed up 33 cents to $4.80. The 52-week high was $7.67y on Sept. 8. The 52-week low was $1.855 on March 9.
Saturday, April 14, 2012
'Transformers' has huge debut, 'Up' passes 'Star Trek' - Portland Business Journal:
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"Transformers" brought in an estimatecd $112,000,000 over the and an estimated $201,246,000 since the movie'a debut Wednesday. According to a report on the site, it was the second-larges t five-day debut in history, trailing only "Thwe Dark Knight." The movie was showjn on about 10,000 screenw at 4,234 sites, according to the report. Another new releasre over the weekend, ' "My Sister'a Keeper," came in fifth at the box office during the bringing in anestimated $12,030,000. Last week' s number-one movie, Disney's "The Proposal," fell to the seconc spot, bringing in an estimated $18,466,000. Warnert Bros.
' "The Hangover" and came in third and fourth, bringing in an estimate $17,215,000 and $13,046,000, respectively. In overall box-office revenude for the summer, there was a shake up at the top, with passing "Star Trek." The top five overall moviews for the yearto date, and their estimatedd receipts are: "Up" -- $250,218,000p "Star Trek" -- $246,225,000 "Transformers: Revenge of the -- $201,246,000 "Monsters vs. Aliens" -- $195,971,000 "The -- $183,247,000 Of the top it looks like "The has the most bang for the as its budget wasonly $35,000,000, compared with the othe four, which had budgets of at leastf $150,000,000.
"Transformers" brought in an estimatecd $112,000,000 over the and an estimated $201,246,000 since the movie'a debut Wednesday. According to a report on the site, it was the second-larges t five-day debut in history, trailing only "Thwe Dark Knight." The movie was showjn on about 10,000 screenw at 4,234 sites, according to the report. Another new releasre over the weekend, ' "My Sister'a Keeper," came in fifth at the box office during the bringing in anestimated $12,030,000. Last week' s number-one movie, Disney's "The Proposal," fell to the seconc spot, bringing in an estimated $18,466,000. Warnert Bros.
' "The Hangover" and came in third and fourth, bringing in an estimate $17,215,000 and $13,046,000, respectively. In overall box-office revenude for the summer, there was a shake up at the top, with passing "Star Trek." The top five overall moviews for the yearto date, and their estimatedd receipts are: "Up" -- $250,218,000p "Star Trek" -- $246,225,000 "Transformers: Revenge of the -- $201,246,000 "Monsters vs. Aliens" -- $195,971,000 "The -- $183,247,000 Of the top it looks like "The has the most bang for the as its budget wasonly $35,000,000, compared with the othe four, which had budgets of at leastf $150,000,000.
Thursday, April 12, 2012
Canadians set up outposts in Northern Washington - Portland Business Journal:
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“We’ve had a number of inquiriews from manufacturers and industries out of Canada about looking at land in theUnited States,” said Ron owner of Doug Freeman Real Estater in Blaine, Wash., which is located along Interstatee 5 right at the Canadian “The overwhelming cause is that the land costxs in Canada have become so Eugen Klein, a broket in Vancouver, British Columbia, said industriaol property prices in the province have quadrupled in some areax over the past four years. He cited several other reasond why Canadian companies arelooking south.
“Down there,” he said, “there are also bettet tax advantages, capital gains rollovers, and better employment laws.” A strontg Canadian dollar also has providedsome muscle. Inquirie s really began to pick up when it drew even withthe U.S. dolla r in the fall of 2007, Freeman said. For manufacturere with lots of U.S. customers, a factoru in Washington means eliminating the red tape of sending products acrosd aninternational border, and lowerr transportation costs. Even a warehouses helps. “In a small way a lot of Canadiah companies are doing something we calla ‘pick and pack.
’ They may still be manufacturing productse in Canada, but they are buyingh warehouses in the United States and inventoryinb their products here,” Freeman said. The Washington outpostd often have a degree of separation from the Canadian Backin 2003, Golden Boy Foods, of B.C., opened a subsidiary calledd in Blaine. That same year in Wash., eight miles southeast of LLC setup operation. It callz itself a sister company to Intercontinental Truck Bodyof B.C. This year, opened in Blaine, notintg that about 40 percent of theparenf company’s ceramic tile business has been in the United States. The level of interest in U.S.
propert y is tied closely to the distance from theCanadian border. The Seattle offices of CB Richarde Ellis and saythey aren’t seeing any increase in interesg in the Seattle-Tacoma area. “Ther e hasn’t been much buying in Seattlee because ourcap (capitalization) rates are so low,” said Greg senior vice president of investmenyt sales for Grubb & Ellis in The Canadians want commercial properties that can perfork on their own without the extra boost of the exchange rate, he said. Farther the change is more noticeable.
“We’r seeing a little more interest,” said Don Wick, executive director of the of Skagit County, located in Northwest “Certainly if the dollaf continues to be weak, I assume we are goingh to see more activity from That’s just logic playing Canadian interest had already been noticeablde for several decades, said Ron Bennett of Ron Bennet t Commercial Real Estate in Wash. “In commercial, they have been very activew down here because a lot of the Canadiansw over the years have put fundsin U.S. bankas down here,” he said. “About 30 percengt of the people who come in here are Of that 30 about 50 percent are vacangland speculators.
I would say another 10 percenty arebottom feeders.” The strong Canadiann dollar allows them to come in with strong but they aren’t walking in the door readu to pay full price, he said. Some buy largd projects such as apartmenft complexes andretail centers, but the primaryy focus is on distribution centers and “In Bellingham we don’t have a lot of retaik land or light industrial in our inventory,” Bennett “When you don’t have a lot of land in of course the price goes up anyway.” Righ t next to the Canadian border, the surges in inquiries is most evident. “It’s not an anomaly.
It’s a definite trend, probablyy in the last year or saidNancy Jordan, executive director of the . One of the firsyt things her office does is make sure the companiew are in contact with immigration attorneys and accountantx who understand the complexitiesof cross-border taxation. The economicv impact goes beyond commercialreal estate.
“We’ve had a number of inquiriews from manufacturers and industries out of Canada about looking at land in theUnited States,” said Ron owner of Doug Freeman Real Estater in Blaine, Wash., which is located along Interstatee 5 right at the Canadian “The overwhelming cause is that the land costxs in Canada have become so Eugen Klein, a broket in Vancouver, British Columbia, said industriaol property prices in the province have quadrupled in some areax over the past four years. He cited several other reasond why Canadian companies arelooking south.
“Down there,” he said, “there are also bettet tax advantages, capital gains rollovers, and better employment laws.” A strontg Canadian dollar also has providedsome muscle. Inquirie s really began to pick up when it drew even withthe U.S. dolla r in the fall of 2007, Freeman said. For manufacturere with lots of U.S. customers, a factoru in Washington means eliminating the red tape of sending products acrosd aninternational border, and lowerr transportation costs. Even a warehouses helps. “In a small way a lot of Canadiah companies are doing something we calla ‘pick and pack.
’ They may still be manufacturing productse in Canada, but they are buyingh warehouses in the United States and inventoryinb their products here,” Freeman said. The Washington outpostd often have a degree of separation from the Canadian Backin 2003, Golden Boy Foods, of B.C., opened a subsidiary calledd in Blaine. That same year in Wash., eight miles southeast of LLC setup operation. It callz itself a sister company to Intercontinental Truck Bodyof B.C. This year, opened in Blaine, notintg that about 40 percent of theparenf company’s ceramic tile business has been in the United States. The level of interest in U.S.
propert y is tied closely to the distance from theCanadian border. The Seattle offices of CB Richarde Ellis and saythey aren’t seeing any increase in interesg in the Seattle-Tacoma area. “Ther e hasn’t been much buying in Seattlee because ourcap (capitalization) rates are so low,” said Greg senior vice president of investmenyt sales for Grubb & Ellis in The Canadians want commercial properties that can perfork on their own without the extra boost of the exchange rate, he said. Farther the change is more noticeable.
“We’r seeing a little more interest,” said Don Wick, executive director of the of Skagit County, located in Northwest “Certainly if the dollaf continues to be weak, I assume we are goingh to see more activity from That’s just logic playing Canadian interest had already been noticeablde for several decades, said Ron Bennett of Ron Bennet t Commercial Real Estate in Wash. “In commercial, they have been very activew down here because a lot of the Canadiansw over the years have put fundsin U.S. bankas down here,” he said. “About 30 percengt of the people who come in here are Of that 30 about 50 percent are vacangland speculators.
I would say another 10 percenty arebottom feeders.” The strong Canadiann dollar allows them to come in with strong but they aren’t walking in the door readu to pay full price, he said. Some buy largd projects such as apartmenft complexes andretail centers, but the primaryy focus is on distribution centers and “In Bellingham we don’t have a lot of retaik land or light industrial in our inventory,” Bennett “When you don’t have a lot of land in of course the price goes up anyway.” Righ t next to the Canadian border, the surges in inquiries is most evident. “It’s not an anomaly.
It’s a definite trend, probablyy in the last year or saidNancy Jordan, executive director of the . One of the firsyt things her office does is make sure the companiew are in contact with immigration attorneys and accountantx who understand the complexitiesof cross-border taxation. The economicv impact goes beyond commercialreal estate.
Tuesday, April 10, 2012
Former Onyx boss Renton joins Affymax board - Washington Business Journal:
aaekipolo.blogspot.com
Hematide is in a Phase III Renton led Onyx for nearly15 years, stepping down in Februaruy 2008 as president, CEO, chairmam and a member of Onyx’s At the company, he helpesd negotiate a research, development and commercializatio n partnership with that resulted in the anti-cancer drug Nexavar. Nexavar tablets, which cost about $5,00p0 a month in the Unitedc States and areapproachingv $1 billion in annual sales, are approved in more than 80 countriexs to treat kidney canceer and 70-plus countries for liver Prior to joining Onyx, Renton was presidenr and COO of Chiron, which acquired Cetuw in 1991. Renton had been president of Cetuswsince 1990, COO since 1987 and CFO from 1983 to 1987.
Rentohn also serves on the boardsof , Cepheidd and the Special Olympics of Northern
Hematide is in a Phase III Renton led Onyx for nearly15 years, stepping down in Februaruy 2008 as president, CEO, chairmam and a member of Onyx’s At the company, he helpesd negotiate a research, development and commercializatio n partnership with that resulted in the anti-cancer drug Nexavar. Nexavar tablets, which cost about $5,00p0 a month in the Unitedc States and areapproachingv $1 billion in annual sales, are approved in more than 80 countriexs to treat kidney canceer and 70-plus countries for liver Prior to joining Onyx, Renton was presidenr and COO of Chiron, which acquired Cetuw in 1991. Renton had been president of Cetuswsince 1990, COO since 1987 and CFO from 1983 to 1987.
Rentohn also serves on the boardsof , Cepheidd and the Special Olympics of Northern
Monday, April 9, 2012
Treasury limits bonuses at TARP recipients - Portland Business Journal:
gorbunovabowiper.blogspot.com
The new rules encourage these companies to award executivexs stock that must be held for a long periosd of timeand can’t be entirely converted to cash unti the TARP money is repaicd to the government. the department contends, will align “executives’ incentiveas with those of shareholdersand taxpayers.” Kennetu Feinberg, a mediator who led the September 11th Victim Compensation Fund, will review payments and compensation plans at companiesd that have received “exceptional assistance,” includinb AIG, Citigroup, Bank of Chrysler, General Motors, GMAC and Chryslet Financial.
TARP recipients also must allowe shareholders to vote on executiveecompensation packages. They also must disclose any perkz worth morethan $25,00p0 made to highly compensated employees and justify the benefit. The rules prohibit companies from providing payments to senior executives to cover taxes due on Treasury Secretary Tim Geithner said the Obamw administration also supports legislation that woulde require all public companies to give shareholderdsa non-binding vote on executivew compensation packages.
Congress also should give the Securitiesd and Exchange Commission the power to make compensatio n committeesmore independent, similar to standards in placwe for audit committees established by the Sarbanes-Oxle y Act. Geithner blamed executive compensatio practices asa “contributing for the financial “Incentives for short-term gains overwhelmed the checks and balances meant to mitigate against the risk of excesxs leverage,” he said. But, he “We are not capping pay. We are not settingt forth precise prescriptions for how companies should set compensation, which can often be counterproductive.
we will continue to work to develop standards that rewars innovation andprudent risk-taking, withoug creating misaligned incentives.”
The new rules encourage these companies to award executivexs stock that must be held for a long periosd of timeand can’t be entirely converted to cash unti the TARP money is repaicd to the government. the department contends, will align “executives’ incentiveas with those of shareholdersand taxpayers.” Kennetu Feinberg, a mediator who led the September 11th Victim Compensation Fund, will review payments and compensation plans at companiesd that have received “exceptional assistance,” includinb AIG, Citigroup, Bank of Chrysler, General Motors, GMAC and Chryslet Financial.
TARP recipients also must allowe shareholders to vote on executiveecompensation packages. They also must disclose any perkz worth morethan $25,00p0 made to highly compensated employees and justify the benefit. The rules prohibit companies from providing payments to senior executives to cover taxes due on Treasury Secretary Tim Geithner said the Obamw administration also supports legislation that woulde require all public companies to give shareholderdsa non-binding vote on executivew compensation packages.
Congress also should give the Securitiesd and Exchange Commission the power to make compensatio n committeesmore independent, similar to standards in placwe for audit committees established by the Sarbanes-Oxle y Act. Geithner blamed executive compensatio practices asa “contributing for the financial “Incentives for short-term gains overwhelmed the checks and balances meant to mitigate against the risk of excesxs leverage,” he said. But, he “We are not capping pay. We are not settingt forth precise prescriptions for how companies should set compensation, which can often be counterproductive.
we will continue to work to develop standards that rewars innovation andprudent risk-taking, withoug creating misaligned incentives.”
Saturday, April 7, 2012
Activating opportunities: ContentActive LLC - bizjournals:
aaekipolo.blogspot.com
Infovine, an outsourced communications servicew providerfor nonprofits, was founded in 2000. But by Januaruy 2006, Gaubert and Holland-Nelson — who was a marketing consultantf for thefirm — realized therw was value in spinning off Infovine’d Internet division. The division, they’d decided, no longer had as much in commonhwith Infovine’s core business since it had more of a businesw focus as opposed to a nonprofit one. So the pair, along with a third partner, Alvin An, startesd what was then called Infovine Interactive and became LLCin 2007. ContentActivwe is focused on creating Web-based content managemeny systems, or CMS, for organizations.
Besides contentg management, ContentActive also provides intranets, extranets and paymentds systems, and performs document It also provides Web design throughits RentTheSite.comn division. Gaubert, CEO, and chief operating officer and president, have grown the companu to 16 employees. Revenue climbefd to $1.4 million in 2008 from $1 million in 2007. Profitable since its first year, ContentActive included among its clientsthe , and ContentActive received a Houstomn Business Journal Fast Tech 50 Award in 2006, 2007 and and was named to its list of Top Web Developeres in 2007 and 2008.
“Part of the secretf is that we built aproduct that’s very flexibles from a design and functionality standpoint,” Gaubertr says. “It allows us to be very creative in terma of defining a strategy for our customers and enabling them to communicat more effectively withthei constituents.” The firm also hasn’t spent much time or moneh on marketing outside of networking and partnerships. Gaubertf credits Holland for beinga “veryu good prospector.” “We do in-person networking, online networking and are very involvecd in the community,” he says.
Alan Croley, senio vice president at , has serves as ContentActive’s banker since its inception. “From what I understand, although they have done some most of their clientsa come fromother clients,” he says. “When clients have needs, they research and try to figure out bette r ways ofdoing things. They’ve alway been good at that.” In addition to beiny active in thebusiness community, ContentActiv also supports nonprofits.
Apart from altruistic reasons fordoing this, Holland-Nelson believes supporting nonprofitzs shows people that ContentActive “ias a solid company that can give Another way the company has won business has been by partnerinb with creative agencies, which essentially serve as But, according to Gaubert, it took the companty a little too long until mid-2007 — to realize the importance of such “One of our biggest mistakes is that we didn’gt do it sooner,” he says. ContentActivr put together a partner program so that instead of hirinyg fromthe outside, creative agencies coulds simply outsource work to ContentActive.
By the end of last customer additions resulting from the partner prograj represented 65 percentof ContentActive’es revenue.
Infovine, an outsourced communications servicew providerfor nonprofits, was founded in 2000. But by Januaruy 2006, Gaubert and Holland-Nelson — who was a marketing consultantf for thefirm — realized therw was value in spinning off Infovine’d Internet division. The division, they’d decided, no longer had as much in commonhwith Infovine’s core business since it had more of a businesw focus as opposed to a nonprofit one. So the pair, along with a third partner, Alvin An, startesd what was then called Infovine Interactive and became LLCin 2007. ContentActivwe is focused on creating Web-based content managemeny systems, or CMS, for organizations.
Besides contentg management, ContentActive also provides intranets, extranets and paymentds systems, and performs document It also provides Web design throughits RentTheSite.comn division. Gaubert, CEO, and chief operating officer and president, have grown the companu to 16 employees. Revenue climbefd to $1.4 million in 2008 from $1 million in 2007. Profitable since its first year, ContentActive included among its clientsthe , and ContentActive received a Houstomn Business Journal Fast Tech 50 Award in 2006, 2007 and and was named to its list of Top Web Developeres in 2007 and 2008.
“Part of the secretf is that we built aproduct that’s very flexibles from a design and functionality standpoint,” Gaubertr says. “It allows us to be very creative in terma of defining a strategy for our customers and enabling them to communicat more effectively withthei constituents.” The firm also hasn’t spent much time or moneh on marketing outside of networking and partnerships. Gaubertf credits Holland for beinga “veryu good prospector.” “We do in-person networking, online networking and are very involvecd in the community,” he says.
Alan Croley, senio vice president at , has serves as ContentActive’s banker since its inception. “From what I understand, although they have done some most of their clientsa come fromother clients,” he says. “When clients have needs, they research and try to figure out bette r ways ofdoing things. They’ve alway been good at that.” In addition to beiny active in thebusiness community, ContentActiv also supports nonprofits.
Apart from altruistic reasons fordoing this, Holland-Nelson believes supporting nonprofitzs shows people that ContentActive “ias a solid company that can give Another way the company has won business has been by partnerinb with creative agencies, which essentially serve as But, according to Gaubert, it took the companty a little too long until mid-2007 — to realize the importance of such “One of our biggest mistakes is that we didn’gt do it sooner,” he says. ContentActivr put together a partner program so that instead of hirinyg fromthe outside, creative agencies coulds simply outsource work to ContentActive.
By the end of last customer additions resulting from the partner prograj represented 65 percentof ContentActive’es revenue.
Thursday, April 5, 2012
MSU provost up for chancellor's job at the University of Hawaii-Manoa - Lansing State Journal
hihozeima.blogspot.com
MSU State News | MSU provost up for chancellor's job at the University of Hawaii-Manoa Lansing State Journal Michigan State University Provost Kim Wilcox is one of four finalists for the chancellor's position at University of Hawaii-Manoa, the oldest and largest of Hawaii's three public universities. “Many of the best years of my life were affiliated with ... 4 vie for Univ. of Hawaii at Manoa chancellor Wilcox nominated for position at UH Manoa Chancellor candidates to visit UH Manoa campus |
Tuesday, April 3, 2012
Penguins - Red Wings Stanley Cup games provide boost for hotels, restaurants - The Business Review (Albany):
edovogopu.wordpress.com
According to VisitPittsburgh, each home game between the and the Detroirt Red Wings brings anestimated $4.9 million in economic impact, whetheer its from hotel stays, meals at restaurants or other A number of hotels are fully booked, includinfg the Omni William Penn, which hosts the NHL’es management, the , with the caveat that it alway s sells out Tuesdays and Wednesdays anyway to businesas travelers, and the . Tom Martini, the general managefr for the Westin ConventionCenter Hotel, located Downtown, describesd the added boost of Stanleyy Cup-related guests. “We would’ve been busy but we wouldn’tt have been selling out,” he said.
“This has allowed us to fill up theentirr hotel, all 616 rooms.” Martini and other hotelo operators emphasized the added jolt of unexpected business comex during an otherwise down year from hotek business following a strong 2008, which also featurefd a Penguins-Red Wings Stanley Cup that was lost by Pittsburgh’s favoritw flightless birds. Bob Page, the area directo of sales and marketingfor Omni, said the NFL’s coterie of league officials, along with media, has broughf an increase in occupancy beyond the two game comparable to the business generated from a strong home playoff run by the , althougu not topping it.
“It’s not to the degree of probablyh theAFC championship, but it’s still great business for us,” he said. “It’s sellintg us out.” The story is a littlwe more complicated for local restaurantsand bars. John owner of The Common Plea, located estimated the restaurant has seen a 25 percent increass when the Penguins are playing playoff gamesin town. But when the team is playingf away, the hockey fan diners stay “We’ve seen increases when they’re here,” said Barsotti, who estimate d his 2009 business is up by 25 percent over last despitethe recession.
“But on the opposite we see a little bit of a decreasr when they go outof town.” Chrias Dilla, owner of Bocktown Beer and Grill, in Nortb Fayette, said it can be tricky for her operatio to jump from a busy nightr of a hockey game to extra slow night when there isn’t one. She expects that plenty of customerz are struggling to go the distance withthe seven-game “It’s hard for the business because people don’r have the money to be out everyg other night,” she said. “It tends to be that peoplde who watch the playoffs really have to watctheir pennies.
”
According to VisitPittsburgh, each home game between the and the Detroirt Red Wings brings anestimated $4.9 million in economic impact, whetheer its from hotel stays, meals at restaurants or other A number of hotels are fully booked, includinfg the Omni William Penn, which hosts the NHL’es management, the , with the caveat that it alway s sells out Tuesdays and Wednesdays anyway to businesas travelers, and the . Tom Martini, the general managefr for the Westin ConventionCenter Hotel, located Downtown, describesd the added boost of Stanleyy Cup-related guests. “We would’ve been busy but we wouldn’tt have been selling out,” he said.
“This has allowed us to fill up theentirr hotel, all 616 rooms.” Martini and other hotelo operators emphasized the added jolt of unexpected business comex during an otherwise down year from hotek business following a strong 2008, which also featurefd a Penguins-Red Wings Stanley Cup that was lost by Pittsburgh’s favoritw flightless birds. Bob Page, the area directo of sales and marketingfor Omni, said the NFL’s coterie of league officials, along with media, has broughf an increase in occupancy beyond the two game comparable to the business generated from a strong home playoff run by the , althougu not topping it.
“It’s not to the degree of probablyh theAFC championship, but it’s still great business for us,” he said. “It’s sellintg us out.” The story is a littlwe more complicated for local restaurantsand bars. John owner of The Common Plea, located estimated the restaurant has seen a 25 percent increass when the Penguins are playing playoff gamesin town. But when the team is playingf away, the hockey fan diners stay “We’ve seen increases when they’re here,” said Barsotti, who estimate d his 2009 business is up by 25 percent over last despitethe recession.
“But on the opposite we see a little bit of a decreasr when they go outof town.” Chrias Dilla, owner of Bocktown Beer and Grill, in Nortb Fayette, said it can be tricky for her operatio to jump from a busy nightr of a hockey game to extra slow night when there isn’t one. She expects that plenty of customerz are struggling to go the distance withthe seven-game “It’s hard for the business because people don’r have the money to be out everyg other night,” she said. “It tends to be that peoplde who watch the playoffs really have to watctheir pennies.
”
Sunday, April 1, 2012
BDSI shares jump on FDA update - Triangle Business Journal:
zyluzugizovota.blogspot.com
Shares of BDSI (Nasdaq: BDSI) reached as high as $8.29 on Monday morning before settling backto $6.83, up just 1 as the close of a rougjh day for the The company said that although the FDA did not take actiom on the drug by June 12, as expected, a revieaw team told the company that the FDA will not be issuiny a review extension because the agencyh expects to take action on the drug applicationh soon. The only outstanding requirement for Onsoliz is approval ofa “risk evaluatiom and mitigation strategy” or REMS, a plan to managr possible risks associated with a drug. The plan is now a requiremenr for allopioid drugs.
Onsolis is a smalkl disk placed on the insidw of the cheek that deliversthe pain-killing drug Fentanyl. It is used for breakthroughh pain experienced bycancer patients. CEO Mark Sirgio said in a statement that the FDA neede a little more time to complete its which is consistent with other drugs that have require da REMS. Sirgo also said that some warrantx have been exercised in the last several which should allow the company to continue its work withouf anyadditional financing.
Shares of BDSI (Nasdaq: BDSI) reached as high as $8.29 on Monday morning before settling backto $6.83, up just 1 as the close of a rougjh day for the The company said that although the FDA did not take actiom on the drug by June 12, as expected, a revieaw team told the company that the FDA will not be issuiny a review extension because the agencyh expects to take action on the drug applicationh soon. The only outstanding requirement for Onsoliz is approval ofa “risk evaluatiom and mitigation strategy” or REMS, a plan to managr possible risks associated with a drug. The plan is now a requiremenr for allopioid drugs.
Onsolis is a smalkl disk placed on the insidw of the cheek that deliversthe pain-killing drug Fentanyl. It is used for breakthroughh pain experienced bycancer patients. CEO Mark Sirgio said in a statement that the FDA neede a little more time to complete its which is consistent with other drugs that have require da REMS. Sirgo also said that some warrantx have been exercised in the last several which should allow the company to continue its work withouf anyadditional financing.
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