Monday, August 30, 2010
GenVec cuts manufacturing partnership - South Florida Business Journal:
After a year and a the Gaithersburg biotech has terminated its contract June 29with , the United Kingdom-based company that had been producing the localo company’s main product, an anticancert treatment called TNFerade in its final stage of clinicalo trials. GenVec (NASDAQ: GNVC) paid Cobra a $350,000 termination fee, negotiatex down considerably fromthe one-time maximum fee of $2.3 milliohn to terminate the contract. Originally signed in Januaryt 2008, the manufacturing agreement called for GenVecc to payCobra $1 million in advance and as much as $9.4 milliom depending on the services rendered. Last GenVec said it paid Cobra $3.
4 million and, in said it would pay Cobrq anadditional $1.8 million this year. GenVec, whic said it doesn’t need further batches from Cobrza to complete its TNFerade trials and had been low on has been searching for a larger partneer to fund those clinical studies and anticipated After making significant cuts to its head GenVecraised $6 million in late May in a discounted stocm offering that garnered a 19 percent drop in the company’s share price from disappointed investors that day.
GenVec’s stocok price has since inched back up to its formerprice levels, even topping $1 since the
Saturday, August 28, 2010
Franchot: Financial questions on State Center project will require vigilance - San Francisco Business Times:
Franchot, who joined Gov. Martin O’Malley and Treasuree Nancy Kopp onthe state’s Board of Publidc Works in voting for the $1.4 billion Statd Center redevelopment project Wednesday afternoon, said he does not know enough aboutg the project’s costs to the state or whether the project is even practical given the nationwide credit crunch. “Io believe the project has a lot of promisd and is deservingof support,” Franchot said in a telephone interview “I voted for it, but am going to continu to be vigilant about the fisca exposure to the state.
” The deal involvees the state leasing its midtown Baltimore offices complex to a private development which would then redevelop the property into a mix of shops and homes. The statd would then lease back a majority ofthe project’xs 2 million square feet of office space for use by its variouss state agencies. But the terma of the deal have not been hammeredout yet, as Franchotf and the Board of Public Works voted Wednesdat only on a master development agreement. With that agreement in the development team will now create designds for its planned buildings and come back to the statde for approval on morespecific designs, costs, and leasde terms.
The development team, which includes national housingdeveoper McCormack, Baron & Salazar, would borroww $888 million to finance its work, accordinbg to the Department of Legislativwe Services. The state would issued another $338 million in State and federal tax credigt programs would pick upanother $234 million in project costs, with the remaindeer of the project’s costs being contributed directlty by the developers or other Franchot said that scenario raises several concerns, including the abilityu for the state or the developers to borrowa money in the midst of the nationwide credit crunch.
He said he’s also concerned aboutg the state’s ability to negotiat fair lease terms with the developers given they would both be heavily invested in makinyg sure the projectis “The problem is that the credit marketx are bone dry,” Franchot “Obviously this is a long-terkm project, but I’m not confident that the private sector will financw this in a way that the state can affordr it.” In addition, Franchot said he isn’t sure why the statre would make the project a priority above othedr pressing needs such as new college dormitoriesx or other state-funded construction projects.
Tuesday, August 24, 2010
From Norway to his way - East Bay Business Times:
"I was young and dumb and had a lot of he said, laughing. "I thought I was on top of the Vaernes is now CEO of inAlameda and, after some earlh mistakes, is enjoying success in America's high-end niche cabinet reaching $36 million in sales last In deciding to make the move to the Bay he saw great business potential for the market of nearlyg 8 million, twice as large as the populationh of Norway. "We'd paid 80 percent tax for two yearas ina row," Vaernes said. "Our oldest son had just turnedd 6 and was about tostarft school. I said to my wife (Brit), `If you want to we should do it now.
'" With a younbg man's hubris, Vaernes, who studied refrigeratiomn and heating engineering before taking over the family Norwegian imagined a big Bay Area franchisd businessimporting high-end German kitchen and wardrobe cabinets. "We had 20 storeds in Norway for 4million people, so I thoughty we'd have 40 in the Bay Area for 8 millio people," he said, He quickly learned that even the six franchise outletds he opened in the Bay Area in 1987 were already too But he was locked into five-year "I didn't realize franchises were so strictluy regulated here," he said, hefting a bound franchise agreement to underscore his point. "It became a huge legal expense.
We could not just closew the doors if theshowrooms weren't profitable, so we had to keep them alivw until the agreement ran out. That cost us some Fortunately, the young company had no debt. "We'rew completely self-financed," Vaernes said. Part of that fisca rectitude, however, came about because, as a new Vaernes had no credit history. "We were not he said. "We had enough money in the butthat wasn't good enough. We had to borroaw money and buy a car with it just to get acredit history." Vaernes faced other problems, too. "Becausre of cultural differences, we didn't understand what customers wanted We did no seriousmarkett research.
When you starg a business, you don't have a lot of humahn resources to go out and do a lotof research. You know your but you don't know the he said. Vaernes enticed his producy director, Hanne Sydskjoer, to leavwe Norway and join his new She is an expert on the products the fancy cabinets and drawersa that are constructed in factories in Germanyh and Italy two weeks after customers work with a Studiko Becker dealer and designer to createthe kitchen, closet or bathroomn they want. Studio Becker, which has no franchisezs now, doesn't sell anything Carefully chosendealers 27 of them in North America and Asia display the cabinets in their showrooms.
Vaernes said he gets aboutr 100 requests a year from people who wish to sell StudiloBecker products. Only about three of those 100 are deemee worthy of being allowed todo so. "W don't allow any thirfd party to handleour products," he "After three weeks of production in the factory loads it into a shipping container. In four it reaches the United States and we truck it to the The dealer who sold it unloads andinstalls it.
We neve r store it in a Vaernes has carefully restricted his products to the high end of the Studio Becker offers severalo varieties of theirproducts a conservative middle-of-the-roard interpretation as well as an old-fashioned look and a more futuristic setup. But all are top of the It doesn't offer inexpensive versions ofany Still, even in this niche market, there are significanyt differences between Norwegian and American cultures lessons Studi Becker had to learn. "At first, our display s were too small. Americans like everything big.
On the kitchens we sell here are twiced the size of aNorwegiaj kitchen, and three times the size of a German kitchen," he When Vaernes arrived in the Unitec States, Americans were not used to the idea of buyinv a high-end, expensive kitchen or wardrobe system. "Ths consumer has different priorities here thanin Europe," he said. "Whem we came here, we found that every three people tended to buy a new Sopeople don't spend as much on the In Europe, people expect that their house will be inherited by their kids. At that time, almost all kitchen s were made by cabinetmakers who drovwe a truck up toyour house.
" Troy Adams, a certified kitchenn designer who sells Studi Becker products in showrooma in both Los Angeles and Honolulu, says the qualithy of the company's products is what customers care most "I've been affiliated with Studio Becke r for 14 years," Adams said, "Roar does what he says he will do he has integrity."
Sunday, August 22, 2010
Search Past 7 days Archives - Boston Herald (blog)
Search Past 7 days Archives Boston Herald (blog) That Secretariat soars is due no doubt to the real Penny Tweedy, Secretariat's owner, and to the extraordinary Diane Lane who gives this Nixon era housewife ... |
Friday, August 20, 2010
Wyclef Jean can't run for president - MiamiHerald.com
msnbc.com | Wyclef Jean can't run for president MiamiHerald.com After days of examining applications, a list of 19 people eligible to run for president was released. By JACQUELINE CHARLES PETIONVILLE, Haiti -- Hip-hop star Wyclef Jean's bid to become Haiti's next president ended late Friday, after the country's ... Election council rejects Wyclef Jean's Haiti presidential candidacy Wyclef Jean vows to help Haiti after presidential bid rejected Haiti council: Wyclef Jean can't run for president |
Wednesday, August 18, 2010
Nearly 1 in 5 Americans Thinks Obama Is Muslim, Survey Shows - FOXNews
FOXNews | Nearly 1 in 5 Americans Thinks Obama Is Muslim, Survey Shows FOXNews AP Aug. 18: President Barack Obama gestures as he speaks during a reception at the Columbus Anthenaem in Columbus, Ohio. A recent poll shows an increase in the number of Americans who incorrectly believe that Obama is a Muslim. ... Americans uncertain about Obama's faith Poll shows more Americans think Obama is a Muslim Poll: One In Five Americans Believes Obama Is A Muslim |
Tuesday, August 17, 2010
US: China military in secret rise - BBC News
Reuters | US: China military in secret rise BBC News A new report from the US defence department says the growth of China's military is shrouded in secrecy. This is dangerous, the Pentagon report says, as it gives rise to misunderstandings and raises the risks of potential conflict. ... Taiwan urges US to sell island advanced weapons China 'extending military reach' Pentagon publishes report on China's military after delay |
Sunday, August 15, 2010
Mosque divide enters Florida politics - MiamiHerald.com
Jakarta Post | Mosque divide enters Florida politics MiamiHerald.com Two top Democratic candidates slammed President Obama's view on plans for a mosque near ground zero. BY ALEX LEARY As President Barack Obama sought to clarify his support of a mosque near ground zero in New York City, the political storm swept through ... Pres. Obama on NY Islamic center comments With Remarks on Mosque, Obama Enters Risky Debate Obama redefines what he meant when he supported mosque at Ground Zero |
Friday, August 13, 2010
Obama to sign bill approving $600 million for border security - CNN
New York Daily News | Obama to sign bill approving $600 million for border security CNN By the CNN Wire Staff President Obama is expected to sign a bill on Friday to provide more funding for border security. Washington (CNN) -- President Obama will sign a bill Friday that provides $600 million in emergency funding to help secure the ... Senate passes border security bill Sound of one man voting: Chuck's 'voice' OKs border bill Senate sends border measure to White House |
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Wednesday, August 11, 2010
Primary winners highlight political inexperience - The Associated Press
Reuters | Primary winners highlight political inexperience The Associated Press WASHINGTON â" » |
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Monday, August 9, 2010
Guantanamo detainee set to be tried - Aljazeera.net
Reuters | Guantanamo detainee set to be tried Aljazeera.net Omar Khadr, a Canadian captured as a teenager by US troops in Afghanistan, is set to go on trial at the US military base in Guantanamo Bay, Cuba. The hearing this week will be the first of a Guantanamo detainee before a military tribunal under Barack ... Lawyers uncertain if Omar Khadr will show Detainee's trial to be peek into war on terror As trial draws near, Omar Khadr lays bare his angst in letter to lawyer |
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Saturday, August 7, 2010
6 Americans on Medical Team Killed in Afghanistan - Voice of America
6 Americans on Medical Team Killed in Afghanistan Voice of America Photo: AP An international Christian charity said Saturday that militants have killed its eight-member medical team of six Americans, one German and one Brit, plus two Afghan interpreters, in a remote area of northern Afghanistan. ... British doctor feared among 10 dead in Afghanistan ambush Attack kills US, foreign doctors on medical mission in northern Afghanistan 8 aid workers found slain in northern Afghanistan |
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Thursday, August 5, 2010
Prop 8 judge to religious believers: It's not about you - USA Today
Sydney Morning Herald | Prop 8 judge to religious believers: It's not about you USA Today The ruling overturning Proposition 8 -- the ban on gay marriage in California -- is a fascinating document. If you have 20 minutes (you might skip some legalese) to read the ruling you will find Chief US District Judge Vaughn Walker's portrait of 21st ... President Obama's beliefs meet his policy Proposition 8 ruling stresses stigma of gay marriage ban California supporters of same-sex marriage and ban on Prop 8 not out of the ... |
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Tuesday, August 3, 2010
On Gulf, crews hope kill attempt will do the trick - The Associated Press
The Guardian | On Gulf, crews hope kill attempt will do the trick The Associated Press NEW ORLEANS â" Crews hoped to begin pumping mud and perhaps cement down the throat of the blown-out oil well at the bottom of the Gulf of Mexico on Tuesday in what BP officials said could be the method of attack that fin » |
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Sunday, August 1, 2010
The Party's Not Over! NY Dems Plan Birthday Fete for Rangel - FOXNews
Washington Post | The Party's Not Over! NY Dems Plan Birthday Fete for Rangel FOXNews AP As several House Democrats press Rep. Charles Rangel to c » |
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