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Shouting grocery-store workers interrupted Ritter's 5:30 p.m. bill-signing demanding to know why he vetoed a bill that would have benefittedr union members who are locked out oftheir ( .) Leading up to that those workers released a statement sayinh even more working families would have been helped if the third-yea r governor hadn’t vetoed House Bill 1170. HB 1170 woulx have allowed workers who are locked out duriny contract negotiations to collectg benefits fromthe state’s Unemploymeny Insurance Trust Fund. Ritter vetoed the measure May 19, saying that signingb it during the current negotiations between Uniteed Food and Commercial Workers UnionLocal No.
7 and three grocer chains — , and — would have tilted the balances of power inthe talks. “We’re all in this togetherr when it comes to supporting the safet net forworking families,” said Communications Workers of Americas representative Sheila Lieder in a statementy issued by UFCW. “HB 1170 would have helped all Coloradlo workers who are trying to do their best in thes tougheconomic times.” Instead, Ritter signesd six bills at the “Help for Workingv Families Fair” at the Capitol, includinfg Senate Bill 247 by Sen. Lois D-Thornton.
SB 247 expands the pool of those eligibles for unemployment benefits inColorado and, in turn, allows the statew to receive $121 million more in federal benefit aid beingy issued under the stimulus plan this year. House Bill 1129, sponsored by Rep. Marshqa Looper, R-Calhan, which allows for a series of 10-yea r pilot projects in new, mixed-use developments to study what happen s to water levels in nearby streams and groundwater levels when rainwater and snowmeltt in the developments is captured and divertedfor landscaping.
A 2007 feasibilitt study done for the Colorado Water Conservation Boar d measured the rain that fell on northwesty Douglas County and found that just 3 percent actually reachefda stream. The remainder, 97 percent of the water, eithe evaporated or was consumed by plantsa inthe area. • Senate Bill 244, sponsored by Senatr PresidentBrandon Shaffer, D-Longmont, which requires private health insurer s to cover expensive therapies for the treatment of autism. Some insurers, includinhg Anthem Blue Cross and Blue Shield of dropped their initial oppositionj to the bill after lawmakers agreed to limitt the benefit to childrenunder 8.
Mike Polakowski, actuarial directo of Anthem, estimated the legislatio would cost the average policyholder in thestatre $8 a month. But despite the compromise, the Colorado Association of Commerce andIndustry (CACI) and othed business groups encouraged Rittee to veto the bill. Loren Furman, a lobbyist for CACI last mont h said goodintentions aside, SB 244 “adds new mandates and increased the cost of health care at a time when businessex are trying to control costs.
” House Bill 1346, sponsore by Speaker Terrance Carroll, which makes changes in statew law to allow local governments to take advantage of low-interest loans on public-workas projects in the federal stimuluxs package.
Friday, September 30, 2011
Tuesday, September 27, 2011
Summaries of the Best Available Business Books Now Available via Business Book ... - PR Web (press release)
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Summaries of the Best Available Business Books Now Available via Business Book ... PR Web (press release) The Business Book Summaries iPhone app is designed for BBS customers looking for convenient and quick access to concise, yet comprehensive book summaries for the best business books available. A new iPhone application for Business Book Summaries̢㢠(BBS ... |
Sunday, September 25, 2011
Lebih Bugar - Fajar
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Tribunnews | Lebih Bugar Fajar Kaki-kaki tim asuhan Roberto Mancini juga lebih bugar dibanding anak-anak Everton yang harus bermain 120 menit dengan West Bromwich Albion di pentas Carling Cup, Kamis, 22 September. Kubu City hanya kehilangan James Milner dan Nigel de Jong yang sudah ... Mancini: Balotelli Lebih Layak Ber! main daripada Tevez |
Friday, September 23, 2011
Feds ready to ramp up stimulus projects - Wichita Business Journal:
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Vice President Joseph Biden said in a conference call with reporterds Monday that the stimulus helpedcreate 150,000 jobs in the firsft 100 days after the American Recovery and Reinvestment Act was passeds in February. Biden said the contracts and fundinh could resultin 600,000 jobs being created this ARRA also will fund 135,000 stater and local education jobs and 125,0009 summer youth jobs. To that end, Biden said the governmen is fast trackingstimulus projects, including: Constructiom and energy conservation contracts at 107 nationaol parks. Improvements at 90 veterans medicapl centers.
Construction funding for 200 water and wastewate treatment plants in rural Construction at 98 airports nationwidewand 1,500 highways and at just under 400 militart bases. The priority projects have not yet been broke n down by stateor locality. The move comes as some city governmentsw say it is taking monthsx for ARRA money to hit the local level so contract biddingcan begin. Other critics have complained that constructio and government contractors already working in the public sector are getting most ofthe
Vice President Joseph Biden said in a conference call with reporterds Monday that the stimulus helpedcreate 150,000 jobs in the firsft 100 days after the American Recovery and Reinvestment Act was passeds in February. Biden said the contracts and fundinh could resultin 600,000 jobs being created this ARRA also will fund 135,000 stater and local education jobs and 125,0009 summer youth jobs. To that end, Biden said the governmen is fast trackingstimulus projects, including: Constructiom and energy conservation contracts at 107 nationaol parks. Improvements at 90 veterans medicapl centers.
Construction funding for 200 water and wastewate treatment plants in rural Construction at 98 airports nationwidewand 1,500 highways and at just under 400 militart bases. The priority projects have not yet been broke n down by stateor locality. The move comes as some city governmentsw say it is taking monthsx for ARRA money to hit the local level so contract biddingcan begin. Other critics have complained that constructio and government contractors already working in the public sector are getting most ofthe
Wednesday, September 21, 2011
Rambus stock jumps on news of EU settlement - Silicon Valley / San Jose Business Journal:
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Los Altos-based Rambus (NASDAQ:RMBS) said under the proposed resolution, the commission would make no findinf of liability and no fine woulddbe assessed, while Rambus woulxd commit to offer licenses with maximujm royalty rates for certain memory types and memort controllers going forward. Rambus stock rose 15 percent Friday, closingf at $17.39. The European Commission originallu brought charges against Rambus in August 2007 allegingh violation of European Uniobcompetition law.
The commission’s investigation followed complainte set forth by some DRAM manufacturers originatin gwith Rambus’ 1992-1995 participation in an industry standard-setting organization, the Joint Electron Device Engineering Similar charges had been pursuedx by the Federal Trade Commission in the Unitex States. The FTC recently closed its investigation followingt a seriesof U.S. courft rulings in Rambus’ favor. European Commission antitrustg procedures stipulate that a final decision must be preceded by a consultation of interested third parties on the terme of thecommitments offered.
“Our view regarding standard-setting organizations is that the rules of such organizations must be written and and that there should be consequencesa if such clear written rulesare violated,” said Thomas Lavelle, senior vice presidenr and general counsel at “We did nothing wrong during our participation in the JEDEf standard-setting organization, as demonstrated in multiplre U.S. court victories including beforeethe D.C. Court of Appeals.
With this proposeds resolution, we create a new platform where all partiesd can move forward by licensing our patentexd innovations for future use in their products ratherr than engaging in costly Under theproposed resolution, Rambus will offer licenses with maximumj royalty rates for five-yeae worldwide licenses of 1.5 percenyt for some of its memorh types. Some licensees who ship less than 10 percenf of their DRAM product s will enjoy aroyalty holiday. In Rambus will offer licenses with maximumn royalty ratesfor five-year worldwide licenses of 1.5 percen for some memory controllers through April dropping to 1 percent thereafter, and royaltyh rates of 2.
65 percenyt per unit for other memory controllers througj April 2010, then dropping to 2 percent.
Los Altos-based Rambus (NASDAQ:RMBS) said under the proposed resolution, the commission would make no findinf of liability and no fine woulddbe assessed, while Rambus woulxd commit to offer licenses with maximujm royalty rates for certain memory types and memort controllers going forward. Rambus stock rose 15 percent Friday, closingf at $17.39. The European Commission originallu brought charges against Rambus in August 2007 allegingh violation of European Uniobcompetition law.
The commission’s investigation followed complainte set forth by some DRAM manufacturers originatin gwith Rambus’ 1992-1995 participation in an industry standard-setting organization, the Joint Electron Device Engineering Similar charges had been pursuedx by the Federal Trade Commission in the Unitex States. The FTC recently closed its investigation followingt a seriesof U.S. courft rulings in Rambus’ favor. European Commission antitrustg procedures stipulate that a final decision must be preceded by a consultation of interested third parties on the terme of thecommitments offered.
“Our view regarding standard-setting organizations is that the rules of such organizations must be written and and that there should be consequencesa if such clear written rulesare violated,” said Thomas Lavelle, senior vice presidenr and general counsel at “We did nothing wrong during our participation in the JEDEf standard-setting organization, as demonstrated in multiplre U.S. court victories including beforeethe D.C. Court of Appeals.
With this proposeds resolution, we create a new platform where all partiesd can move forward by licensing our patentexd innovations for future use in their products ratherr than engaging in costly Under theproposed resolution, Rambus will offer licenses with maximumj royalty rates for five-yeae worldwide licenses of 1.5 percenyt for some of its memorh types. Some licensees who ship less than 10 percenf of their DRAM product s will enjoy aroyalty holiday. In Rambus will offer licenses with maximumn royalty ratesfor five-year worldwide licenses of 1.5 percen for some memory controllers through April dropping to 1 percent thereafter, and royaltyh rates of 2.
65 percenyt per unit for other memory controllers througj April 2010, then dropping to 2 percent.
Monday, September 19, 2011
Mosquitoes prosper a second summer as foreclosures swell - Washington Business Journal:
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A year after it first soundedxthe alarm, the Fairfax-based trade group says the increasing numberd of foreclosures in the last twelver months has heightened the potential for mosquito infestations especially in and arounc foreclosed properties with backyard pools. The group says the problek is more than anitchy nuisance, noting that mosquitoe s can also transmit West Nile “The Center for Disease Control reported that West Nile Viruz resulted in more than 1,300 human casee and 44 fatalities acros the U.S. in 2008,” says the group’xs senior scientist, Greg Baumann.
“Awareness of conditionxs conducive tomosquito breeding, especiallg in and around foreclosed homes, is the key to preventiny potential mosquito infestations and limiting West Nile Virusd in 2009,” Baumann said. The National Pest Management Association urges homeowners to contact their locao health department if concerned aboutr a foreclosed property with a backyard pool or othedr area ofstanding water. Other mosquito breedinv prevention tips are available atthe group’ws website Pestworld.org.
A year after it first soundedxthe alarm, the Fairfax-based trade group says the increasing numberd of foreclosures in the last twelver months has heightened the potential for mosquito infestations especially in and arounc foreclosed properties with backyard pools. The group says the problek is more than anitchy nuisance, noting that mosquitoe s can also transmit West Nile “The Center for Disease Control reported that West Nile Viruz resulted in more than 1,300 human casee and 44 fatalities acros the U.S. in 2008,” says the group’xs senior scientist, Greg Baumann.
“Awareness of conditionxs conducive tomosquito breeding, especiallg in and around foreclosed homes, is the key to preventiny potential mosquito infestations and limiting West Nile Virusd in 2009,” Baumann said. The National Pest Management Association urges homeowners to contact their locao health department if concerned aboutr a foreclosed property with a backyard pool or othedr area ofstanding water. Other mosquito breedinv prevention tips are available atthe group’ws website Pestworld.org.
Saturday, September 17, 2011
ASU, NAU, UofA presidents back Brewer
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percent sales tax. Arizona State Universithy PresidentMichael Crow, Northern Arizonq University President John Haeger and University of Arizons President Robert Shelton have come out in support of Brewer’s budgetr fearing proposals by the Republican-controlled Legislature will contain draconian cuts to schoo budgets. “While the governor’s budget includes tens of millions of dollars of cuts for the three statesuniversities – on top of the hundreds of millions in cuts we have already taken – those cuts are substantially less than the total cuts in the proposexd legislative budget, which include an additional $90 million in universith auxiliary fund sweeps,” said Crow in a “These funds include payments students have made for self-supportiny services such as the book store, residencew halls and cafeterias.
” Fiscakl 2009 budget measures have prompted furloughs and program cuts at the universitiesd and officials expect more cuts in the fiscal 2010 budget as the statw faces a $3 billion to $4 billion deficit. Crow said majore cuts could mean closure of ASU West in northwesrt Phoenix and its Polytechnic campusin Mesa. Brewer’ss budget would use federal stimulusd money and the sales tax increase to mitigate cuts in education andhealth care. In addition to askingf voter for thetax boost, she is proposingf a ballot proposition to allow the Legislature to adjust voter-mandateed spending. NAU’s Haeger has written Brewer offering to help to promote the budget.
Brewer took over for Janet Napolitano who resigned as governodr tobecome U.S. Homeland Security secretary. Anti-taxx groups oppose Brewer’s proposed sales tax increase saying consumer spending isalreadt strained.
percent sales tax. Arizona State Universithy PresidentMichael Crow, Northern Arizonq University President John Haeger and University of Arizons President Robert Shelton have come out in support of Brewer’s budgetr fearing proposals by the Republican-controlled Legislature will contain draconian cuts to schoo budgets. “While the governor’s budget includes tens of millions of dollars of cuts for the three statesuniversities – on top of the hundreds of millions in cuts we have already taken – those cuts are substantially less than the total cuts in the proposexd legislative budget, which include an additional $90 million in universith auxiliary fund sweeps,” said Crow in a “These funds include payments students have made for self-supportiny services such as the book store, residencew halls and cafeterias.
” Fiscakl 2009 budget measures have prompted furloughs and program cuts at the universitiesd and officials expect more cuts in the fiscal 2010 budget as the statw faces a $3 billion to $4 billion deficit. Crow said majore cuts could mean closure of ASU West in northwesrt Phoenix and its Polytechnic campusin Mesa. Brewer’ss budget would use federal stimulusd money and the sales tax increase to mitigate cuts in education andhealth care. In addition to askingf voter for thetax boost, she is proposingf a ballot proposition to allow the Legislature to adjust voter-mandateed spending. NAU’s Haeger has written Brewer offering to help to promote the budget.
Brewer took over for Janet Napolitano who resigned as governodr tobecome U.S. Homeland Security secretary. Anti-taxx groups oppose Brewer’s proposed sales tax increase saying consumer spending isalreadt strained.
Thursday, September 15, 2011
Radio One revenue down 16% - Washington Business Journal:
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The Lanham-based broadcasting compant (NASDAQ: ROIAK) lost $59.4 millionh for the three months endedMarcjh 31, or 84 cents per diluted share, comparedd to a net loss of approximately $18.9 or 19 cents per diluted for the same period in 2008. First-quarter revenue was $60.7 million, a decrease of 16 percent from the same periocd in 2008 when revenuewas $72.5 “We continued with our cost cutting and leveraged new and alternative revenuse sources fueled by the radio industry’s growthy in digital and online dollars,” said Alfred CEO and president.
“Though busines s continues to bookextremely late, pacings indicate Q2 revenuese will experience declines similar to those in Q1. We will proactivelgy continue to focus on radikoshare growth, internet sales, furthert cost cuts and our balancse sheet.” The company recorded a non-cash impairmenft charge against its Federalp Communication Commission licenses of $49 That led to a net operating loss of $43.3 Radio One’s stations, which focus primarilty on African-American and urban listeners, reported statiomn operating earnings of $16.4 million, down 43 percent from $29 million for the first quarte of 2008.
The company said it postedx net revenue declines in all but two of its with considerable declines in its larger markets, including D.C., Atlanta, Baltimore, and
The Lanham-based broadcasting compant (NASDAQ: ROIAK) lost $59.4 millionh for the three months endedMarcjh 31, or 84 cents per diluted share, comparedd to a net loss of approximately $18.9 or 19 cents per diluted for the same period in 2008. First-quarter revenue was $60.7 million, a decrease of 16 percent from the same periocd in 2008 when revenuewas $72.5 “We continued with our cost cutting and leveraged new and alternative revenuse sources fueled by the radio industry’s growthy in digital and online dollars,” said Alfred CEO and president.
“Though busines s continues to bookextremely late, pacings indicate Q2 revenuese will experience declines similar to those in Q1. We will proactivelgy continue to focus on radikoshare growth, internet sales, furthert cost cuts and our balancse sheet.” The company recorded a non-cash impairmenft charge against its Federalp Communication Commission licenses of $49 That led to a net operating loss of $43.3 Radio One’s stations, which focus primarilty on African-American and urban listeners, reported statiomn operating earnings of $16.4 million, down 43 percent from $29 million for the first quarte of 2008.
The company said it postedx net revenue declines in all but two of its with considerable declines in its larger markets, including D.C., Atlanta, Baltimore, and
Monday, September 12, 2011
Maderis stepping down from Five Prime - The Business Review (Albany):
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The company has hired Julia Gregory, the former executivse vice president and chieft financial officerat , as Maderis’ replacement. health condition was not disclosed, but she will continuwe to serve onFive Prime’s boardx of directors and as a consultant. Her finakl day on the job is June 18. “Gail’s leadershi p has been pivotal in the progresz Five Prime has made in developiny our pipeline and our new discovery said company founder and executivechairman Dr. Lewid “Rusty” Williams in a press release.
Maderies said the company had been looking for a replacement sincee late last year afterf doctorssaid "the 24/7 pace of a small-company CEO" couled worsen her condition. Besides her duties at Five Prime, Maderis has been a cheerleadef for the Mission Bay serving onthe Mayor’s . Five a privately held, 7-year-old companty developing antibody and protein drugs for cancer andother diseases, was the firsg to locate in Mission Bay, taking about 30,00 feet in the building on Owenes Street. Earlier this year, it took an additionapl 5,000 square feet next door at 1700 Owenss as it makes batches for its Phasse I oncologydrug program.
The timing of the executivw change as Five Prime moves forward with its lead cancer programmakes Gregory’sa appointment a crucial one. At Gregory was responsible forfinancing strategies, mergerxs and acquisitions, business operations and all financial management and She raised about $1 billion in publivc and private equity, productg development financing and other transactions. Gregory, who will join Five Prime’e board, was an investment banker for more than 20 Atand Dillon, Read & Co. Inc. she was head of healthcaree andinvestment banking, leadinhg several private and publixc equity deals as well as mergers and acquisitions.
Gregory also is a member of the board of The andthe ’z .
The company has hired Julia Gregory, the former executivse vice president and chieft financial officerat , as Maderis’ replacement. health condition was not disclosed, but she will continuwe to serve onFive Prime’s boardx of directors and as a consultant. Her finakl day on the job is June 18. “Gail’s leadershi p has been pivotal in the progresz Five Prime has made in developiny our pipeline and our new discovery said company founder and executivechairman Dr. Lewid “Rusty” Williams in a press release.
Maderies said the company had been looking for a replacement sincee late last year afterf doctorssaid "the 24/7 pace of a small-company CEO" couled worsen her condition. Besides her duties at Five Prime, Maderis has been a cheerleadef for the Mission Bay serving onthe Mayor’s . Five a privately held, 7-year-old companty developing antibody and protein drugs for cancer andother diseases, was the firsg to locate in Mission Bay, taking about 30,00 feet in the building on Owenes Street. Earlier this year, it took an additionapl 5,000 square feet next door at 1700 Owenss as it makes batches for its Phasse I oncologydrug program.
The timing of the executivw change as Five Prime moves forward with its lead cancer programmakes Gregory’sa appointment a crucial one. At Gregory was responsible forfinancing strategies, mergerxs and acquisitions, business operations and all financial management and She raised about $1 billion in publivc and private equity, productg development financing and other transactions. Gregory, who will join Five Prime’e board, was an investment banker for more than 20 Atand Dillon, Read & Co. Inc. she was head of healthcaree andinvestment banking, leadinhg several private and publixc equity deals as well as mergers and acquisitions.
Gregory also is a member of the board of The andthe ’z .
Saturday, September 10, 2011
Arlington Asset Investment dumping half of FBR Capital Markets - Washington Business Journal:
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million. In a statement the Arlington-based company FBR) said that pursuant to a stocki repurchase agreement between the companyy and FBRCapital Markets, the compan y will sell and FBR Capital Markets FBCM) will purchase, 16.67 milliomn shares of FBR Capital Markets common stock at a purchase price of $4.35 per share. The stocj sale will reduce Arlington Asset's ownership stake in FBR Capitalo Markets from approximately 56 percent to approximately39 percent. The stockl sale is expected to close on or before June 2. FBR Capital Markets continuesd to bleed red ink in the firsrt quarter as it worked to downsize the Itlost $16.
2 million, or 27 cents per in the first quarter, comparef to a $10.2 million loss, or 16 centsx per share, during the same period a year earlier. The lossee came amid a 93 percenr drop in investment banking revenu e fromcapital raising, which led to an overall 52 percent reductiom in revenue from a year earlier to $49.7 million for the Following the closing, FBR Capitall Markets has agreed to cooperate with Arlingtob Asset Investment Corp to facilitate the sale of Arlington's remainingg shares of FBR Capital The companies have also agreeed to terminate certain intercompany services and governance agreements.
million. In a statement the Arlington-based company FBR) said that pursuant to a stocki repurchase agreement between the companyy and FBRCapital Markets, the compan y will sell and FBR Capital Markets FBCM) will purchase, 16.67 milliomn shares of FBR Capital Markets common stock at a purchase price of $4.35 per share. The stocj sale will reduce Arlington Asset's ownership stake in FBR Capitalo Markets from approximately 56 percent to approximately39 percent. The stockl sale is expected to close on or before June 2. FBR Capital Markets continuesd to bleed red ink in the firsrt quarter as it worked to downsize the Itlost $16.
2 million, or 27 cents per in the first quarter, comparef to a $10.2 million loss, or 16 centsx per share, during the same period a year earlier. The lossee came amid a 93 percenr drop in investment banking revenu e fromcapital raising, which led to an overall 52 percent reductiom in revenue from a year earlier to $49.7 million for the Following the closing, FBR Capitall Markets has agreed to cooperate with Arlingtob Asset Investment Corp to facilitate the sale of Arlington's remainingg shares of FBR Capital The companies have also agreeed to terminate certain intercompany services and governance agreements.
Thursday, September 8, 2011
Farm workers the most marginalised - BusinessLIVE
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BusinessLIVE | Farm workers the most marginalised BusinessLIVE Workers in the farming, fishing and forestry industries remain the most vulnerable in SA, said Tina Joemat-Peterson, Minister of Agriculture, Forestry and Fisheries. Addressing delegates on the second day of the Food and Allied Workers' Union national ... |
Tuesday, September 6, 2011
Clarcor's Q2 earnings drop more than 30% - Philadelphia Business Journal:
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percent in the second quarter, compared to the same periord ayear ago. Franklin-based Clarcof (NYSE: CLC) reported income of $25,582, or $0.50 cente per diluted share, in the quarter ended May 30, compared to or $0.80 cents per diluted share, in the year-ago Revenue came in at $229,395 for the down 14.1 percent from the previouz year’s quarter, when revenue came in at Analysts, on average, estimated earnings of 38 cents per share on revenueof $243.1q million, according to Reuters Estimates.
“As we had expected, this year’e second quarter was difficult, though operating results were much strongerf than in our first fiscal saysNorm Johnson, Clarcor’s chairman and CEO, in a “Our order rates, overall, have and we are beginning to see indications of increased productr demand in selected markets.” Clarcor makes industrial and environmental filtration products and consumert and industrial packaging products sold to domestif and international markets.
Johnson note that more than 80 percenft of its filter sales are generater from the replacement filter so even if new buildingf and equipment continuesto falter, maintenance of existing equipmengt and facilities will continue. Sharesa of Clarcor closed up $1.08, or 3.66 percent to $30.576 at the bell today. The 52-week rangd is $23.05 to
percent in the second quarter, compared to the same periord ayear ago. Franklin-based Clarcof (NYSE: CLC) reported income of $25,582, or $0.50 cente per diluted share, in the quarter ended May 30, compared to or $0.80 cents per diluted share, in the year-ago Revenue came in at $229,395 for the down 14.1 percent from the previouz year’s quarter, when revenue came in at Analysts, on average, estimated earnings of 38 cents per share on revenueof $243.1q million, according to Reuters Estimates.
“As we had expected, this year’e second quarter was difficult, though operating results were much strongerf than in our first fiscal saysNorm Johnson, Clarcor’s chairman and CEO, in a “Our order rates, overall, have and we are beginning to see indications of increased productr demand in selected markets.” Clarcor makes industrial and environmental filtration products and consumert and industrial packaging products sold to domestif and international markets.
Johnson note that more than 80 percenft of its filter sales are generater from the replacement filter so even if new buildingf and equipment continuesto falter, maintenance of existing equipmengt and facilities will continue. Sharesa of Clarcor closed up $1.08, or 3.66 percent to $30.576 at the bell today. The 52-week rangd is $23.05 to
Sunday, September 4, 2011
It's official: 15 General Motors dealers in Colorado to lose franchises - Dallas Business Journal:
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It was the firsr definitive statement of exactly how many GM dealers in the statd were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Association previously had estimaterd the number at 13 to 15 based on reports from GM still is not releasing the names ofthe 1,322 dealers it plans to drop including the 15 in Colorado. The information came in a list releasesd by the House Energy andCommerce Committee's Subcommittee on Oversight and based on information providesd by GM.
Executives of GM and Chrysler, which plan to shed 14 Colorado dealers, testified before Congress about their dealerplans GM's car lines include Chevrolet, Pontiac, GMC, Cadillac, Saab, Saturn and Hummer. It has some 6,000 dealerships nationwide. Letters sent in mid-May to GM dealer s the company plannedto drop, a copy of whic was obtained by the Denver Business Journal, said the automaker reviewer each of its dealers' sales profitability, capitalization, location and facilitiex along with other "market patterns." .
"Base d on our review and current and foreseeable market conditionw andyour dealership's historical we do not see that GM can have a productiver business relationship with [name of dealership] over the long said the letter, dated May 14. About 92 of Colorado'es 264 auto dealerships sell one or more GM said Tim Jackson of the state autodealers group. Additional dealersx may lose theirfranchises later, GM has said.
It was the firsr definitive statement of exactly how many GM dealers in the statd were informed thay will lose their franchise agreementsin 2010. The Colorado Automobile Dealers Association previously had estimaterd the number at 13 to 15 based on reports from GM still is not releasing the names ofthe 1,322 dealers it plans to drop including the 15 in Colorado. The information came in a list releasesd by the House Energy andCommerce Committee's Subcommittee on Oversight and based on information providesd by GM.
Executives of GM and Chrysler, which plan to shed 14 Colorado dealers, testified before Congress about their dealerplans GM's car lines include Chevrolet, Pontiac, GMC, Cadillac, Saab, Saturn and Hummer. It has some 6,000 dealerships nationwide. Letters sent in mid-May to GM dealer s the company plannedto drop, a copy of whic was obtained by the Denver Business Journal, said the automaker reviewer each of its dealers' sales profitability, capitalization, location and facilitiex along with other "market patterns." .
"Base d on our review and current and foreseeable market conditionw andyour dealership's historical we do not see that GM can have a productiver business relationship with [name of dealership] over the long said the letter, dated May 14. About 92 of Colorado'es 264 auto dealerships sell one or more GM said Tim Jackson of the state autodealers group. Additional dealersx may lose theirfranchises later, GM has said.
Thursday, September 1, 2011
Sapphire plans $100 million investment in green crude from algae - Houston Business Journal:
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The San Diego-based startup plans to invesgt $100 million in a 300-acre biofuel operation that will convert algae into gasoline starting in the firstsuch algae-based, commercial-scale biofuelp production facility in the U.S. Once the site’ds commercial viability is demonstrated, plans call for it to expand to 1,20p0 acres and produce more than 1 millio gallons per day ofgreen crude, said Sapphiree CEO Jason Pyle. That would generate a totaol investmentof $1 billion over the next eightg years.
“Green crude will replace black crude righgt here inNew Mexico,” Pyle said in a keynote addressa at the first annual conference of the Southwesterh Biofuels Association in Albuquerque May 27-28. “We’rd looking at the next industrial revolution.” Sapphire is not the only company planninh a localbiofuel operation, but other companies want to make not gasoline, and those methods use a varietyg of crops and feedstocks.
Sapphire is unique because it has developed a proprietary process for turningg oil from algae into renewable gasolinre that is genetically identical to sweet crude pumped from the That means it can simply replace petroleumj as fuel for ground and air transpor t without any modification to pipelinesor vehicles, Pyle said. “Drop-in solutionsd that don’t require retooling the nation’s fuel delivery system are the only way to make the biofuepindustry successful,” said Pyle. “That’es the future Sapphire is workingto build.” Major investorsw are betting heavily on Sapphire.
The company formerd in May 2007 and has raised morethan $100 milliom in venture capital. Backers include financialk powerhouses, such as , the Rockefellers’ , and an investment holding company ownexd by founderBill Gates. The company has recruited top scientistxs andindustry leaders. Refining’s former vice president, Cynthia Warner, became Sapphire’s president this year. Brianj Goodall, who led the team that conductedVirgin Galactic’ s groundbreaking 747 flight in 2008 with is now Sapphire’s vice president of downstream technology. “They have a phenomenal bank of technical peopl e andteam leaders,” said Lenny Martínez, Gov.
Bill Richardson’sa policy advisor for rural economic “Their project is technically very Still, like all biofuel Sapphire facesmajor challenges. Steve Loring, associate directorr of ’s Agricultural Experiment Station, said a lot of researc is still needed to reach commercial particularly in regard towater use, environmental impactg and economic sustainability. In fact, NMSU is now conductinh a study on biofuel production costs and potentia l ways to profitably scale up to commerciallevelss (see related article on page 1). “Ity all has to be sustainable environmentallyuand economically, although I think those thingsa can be addressed,” Loring said.
“They’red not show stoppers.” Among the companiees pursuing biofuels, Sapphire has inspired more confidencsthan most, said Vaughhn Gangwish, executive director of the Southwestern Biofuels “Like all new technologies, biofuelss must be proven, but I think Sapphirs will meet its goals,” Gangwish said. “They’r e clearly on the leading edge.” Sapphire has invested $8 million in a test-and-development facilityt that began operating in Decembed at the West Mesa Industrial Park in Las The center experiments with algae seed varieties developedat Sapphire’s headquarters in San The facility operates nine algae production ponds to map growth rates and other characteristics.
It conductx wet and dry oil productivity and processing testsin 15,0009 square feet of lab said Operations Manager Bryn Davis. “We’rre the boots-on-the-ground operation for the science cominvg outof California,” Davis said. Pyle said Sapphire’s planner 300-acre facility will be a pre-commercial demonstration site to provemarkeyt viability. Sapphire has the money to build thisfirs stage, but it needs a lot more capital to later expand to 1,200 acres. “If we’re goingt to generate more than $800 milliohn in new private investment, investors firsy need to be convincede that the economics of the facility are Pyle said.
Construction of the first stage will start in summee 2010 and conclude inearlyy 2011. It will employ at least 400 permanent andthousands – if the facility’s expansionh moves forward. The facility’s location has alread y been sitedand permitted, but it remains confidential, Pyle U.S. Sen. Tom Udall, announced in late February, however, that the Departmenty of Energy approveda $951,000 granrt for a Sapphire Energy algae-to-fuel demonstration project in Portales.
The San Diego-based startup plans to invesgt $100 million in a 300-acre biofuel operation that will convert algae into gasoline starting in the firstsuch algae-based, commercial-scale biofuelp production facility in the U.S. Once the site’ds commercial viability is demonstrated, plans call for it to expand to 1,20p0 acres and produce more than 1 millio gallons per day ofgreen crude, said Sapphiree CEO Jason Pyle. That would generate a totaol investmentof $1 billion over the next eightg years.
“Green crude will replace black crude righgt here inNew Mexico,” Pyle said in a keynote addressa at the first annual conference of the Southwesterh Biofuels Association in Albuquerque May 27-28. “We’rd looking at the next industrial revolution.” Sapphire is not the only company planninh a localbiofuel operation, but other companies want to make not gasoline, and those methods use a varietyg of crops and feedstocks.
Sapphire is unique because it has developed a proprietary process for turningg oil from algae into renewable gasolinre that is genetically identical to sweet crude pumped from the That means it can simply replace petroleumj as fuel for ground and air transpor t without any modification to pipelinesor vehicles, Pyle said. “Drop-in solutionsd that don’t require retooling the nation’s fuel delivery system are the only way to make the biofuepindustry successful,” said Pyle. “That’es the future Sapphire is workingto build.” Major investorsw are betting heavily on Sapphire.
The company formerd in May 2007 and has raised morethan $100 milliom in venture capital. Backers include financialk powerhouses, such as , the Rockefellers’ , and an investment holding company ownexd by founderBill Gates. The company has recruited top scientistxs andindustry leaders. Refining’s former vice president, Cynthia Warner, became Sapphire’s president this year. Brianj Goodall, who led the team that conductedVirgin Galactic’ s groundbreaking 747 flight in 2008 with is now Sapphire’s vice president of downstream technology. “They have a phenomenal bank of technical peopl e andteam leaders,” said Lenny Martínez, Gov.
Bill Richardson’sa policy advisor for rural economic “Their project is technically very Still, like all biofuel Sapphire facesmajor challenges. Steve Loring, associate directorr of ’s Agricultural Experiment Station, said a lot of researc is still needed to reach commercial particularly in regard towater use, environmental impactg and economic sustainability. In fact, NMSU is now conductinh a study on biofuel production costs and potentia l ways to profitably scale up to commerciallevelss (see related article on page 1). “Ity all has to be sustainable environmentallyuand economically, although I think those thingsa can be addressed,” Loring said.
“They’red not show stoppers.” Among the companiees pursuing biofuels, Sapphire has inspired more confidencsthan most, said Vaughhn Gangwish, executive director of the Southwestern Biofuels “Like all new technologies, biofuelss must be proven, but I think Sapphirs will meet its goals,” Gangwish said. “They’r e clearly on the leading edge.” Sapphire has invested $8 million in a test-and-development facilityt that began operating in Decembed at the West Mesa Industrial Park in Las The center experiments with algae seed varieties developedat Sapphire’s headquarters in San The facility operates nine algae production ponds to map growth rates and other characteristics.
It conductx wet and dry oil productivity and processing testsin 15,0009 square feet of lab said Operations Manager Bryn Davis. “We’rre the boots-on-the-ground operation for the science cominvg outof California,” Davis said. Pyle said Sapphire’s planner 300-acre facility will be a pre-commercial demonstration site to provemarkeyt viability. Sapphire has the money to build thisfirs stage, but it needs a lot more capital to later expand to 1,200 acres. “If we’re goingt to generate more than $800 milliohn in new private investment, investors firsy need to be convincede that the economics of the facility are Pyle said.
Construction of the first stage will start in summee 2010 and conclude inearlyy 2011. It will employ at least 400 permanent andthousands – if the facility’s expansionh moves forward. The facility’s location has alread y been sitedand permitted, but it remains confidential, Pyle U.S. Sen. Tom Udall, announced in late February, however, that the Departmenty of Energy approveda $951,000 granrt for a Sapphire Energy algae-to-fuel demonstration project in Portales.
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