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Neither GM nor Penske Automotive released financial details ofthe transaction, but the companiess said the sale is expected to occur in the thirr quarter. Friday’s announcement of a buye follows word on Tuesday that GM is in advancec talks to sell its Hummer brand to Chinesdecompany Ltd. GM filed for Chapted 11 bankruptcy onJune 1. The company’s plans for paring back operations have reducing the number of brands it will as well as the number ofGM dealers. Penskew Automotive, based in Bloomfield Hills, Mich., claims to be the nation’as second-largest publicly owned auto dealer.
It operates 310 auto franchisea — 159 in the United States and Puerto Rico and 152 inotheer countries, primarily the United Kingdom. The company’s chairman is Rogerd Penske, who also leads Penske Racing.
Sunday, October 30, 2011
Friday, October 28, 2011
Clear Channel parent posts 1Q loss on revenue decline - San Antonio Business Journal:
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(OTC BB:CCMO), formed when private equity firms Bain Capitakl andThomas H. Lee Partners acquired San Antonio-basedr Clear Channel last year, said Monday that it lost $418.12 million in the first three months of the Clear Channel a year agoearner $799.6 million. Revenue in the quarter fell 23 percengto $1.2 billion from $1.567 billion. The biggest decline came for Clea Channel’s outdoor advertising segment, a separate publicly traded company, whichj saw revenue fall by a quarterfto $582.2 million. (NYSE:CCO), majority-owned by CC told investors that itlost $87.9 million, or 25 centas a share, during the quarter. That compares with profit of $88.
9 million, or 25 cent s a share, a year ago. CC Media during the quarter moved to cut costsdby $350 million annually under a restructuring program that included 1,8500 job cuts in January and a 590-worker cut last The company expects the cost savings to be in full by Apripl 2010 and has cut nearly $34 millionh in expenses so far. Clear Channek owns 80 radio stationsin Ohio, seven of which are in Columbus, with 11 othera in areas around Central
(OTC BB:CCMO), formed when private equity firms Bain Capitakl andThomas H. Lee Partners acquired San Antonio-basedr Clear Channel last year, said Monday that it lost $418.12 million in the first three months of the Clear Channel a year agoearner $799.6 million. Revenue in the quarter fell 23 percengto $1.2 billion from $1.567 billion. The biggest decline came for Clea Channel’s outdoor advertising segment, a separate publicly traded company, whichj saw revenue fall by a quarterfto $582.2 million. (NYSE:CCO), majority-owned by CC told investors that itlost $87.9 million, or 25 centas a share, during the quarter. That compares with profit of $88.
9 million, or 25 cent s a share, a year ago. CC Media during the quarter moved to cut costsdby $350 million annually under a restructuring program that included 1,8500 job cuts in January and a 590-worker cut last The company expects the cost savings to be in full by Apripl 2010 and has cut nearly $34 millionh in expenses so far. Clear Channek owns 80 radio stationsin Ohio, seven of which are in Columbus, with 11 othera in areas around Central
Wednesday, October 26, 2011
Obama College Loan Plan Aims at an Old Voting Bloc - ABC News
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ABC News | Obama College Loan Plan Aims at an Old Voting Bloc ABC News Seeking to shore up support among cash-strapped college graduates and students struggling with rising tuition costs, President Barack Obama is outlining a plan to » |
Sunday, October 23, 2011
Pharmas subleasing excess suburban space - Boston Business Journal:
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and are among companies that have listed space for sublease at their respectiveWaltham headquarters. Both companiee moved operations from the life science hub of Cambridgs to Walthamlast year. Altus is listing more than 150,000 square feet of office and lab sublease space at the Park in Earlier this year the biopharmaceuticalcompany (Nasdaq: ALTU) announced it wouled lay off 75 percent of its leaving 35 people at its Waltham according to published reports. ImmunoGen (Nasdaq: IMGN) is subleasing 14,00p0 square feet of the nearly 90,000 square feet of lab space it leases at 830Wintet St. in Waltham.
Immunogen plannexd to grow into excess space at 830 Winter but has decidec tosublease instead, sources said. This month ImmunoGen announced it would discontinue the internal development ofa gastric-cancer According to published reports, the company said the step will not have impact on its revenue, expenses or cash reserves. ImmunoGen booked $23.7 million in revenue and a net lossof $21. million during the nine months endedMarch 31.
and are among companies that have listed space for sublease at their respectiveWaltham headquarters. Both companiee moved operations from the life science hub of Cambridgs to Walthamlast year. Altus is listing more than 150,000 square feet of office and lab sublease space at the Park in Earlier this year the biopharmaceuticalcompany (Nasdaq: ALTU) announced it wouled lay off 75 percent of its leaving 35 people at its Waltham according to published reports. ImmunoGen (Nasdaq: IMGN) is subleasing 14,00p0 square feet of the nearly 90,000 square feet of lab space it leases at 830Wintet St. in Waltham.
Immunogen plannexd to grow into excess space at 830 Winter but has decidec tosublease instead, sources said. This month ImmunoGen announced it would discontinue the internal development ofa gastric-cancer According to published reports, the company said the step will not have impact on its revenue, expenses or cash reserves. ImmunoGen booked $23.7 million in revenue and a net lossof $21. million during the nine months endedMarch 31.
Friday, October 21, 2011
Sierra College gets $200K to train workers - Sacramento Business Journal:
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Sierra College Training & Development, a college division that provide customized work force development help to Placer and Nevadas County employers and manufacturers throughout Northern secured the grant fromthe , a news releasre said Wednesday. The money will be used to providwe customized training inprocess improvement, quality managemenyt and mechatronics technical skills to high-growth businesses.
Farsighted businesses see this as a great time totrain staff, Sandra Scott, director of Sierra College’s Grany Development and Career Technical Education, said in the “By developing employees’ skills during the downturn, thesee businesses will be well positioned to take advantags of opportunities when the economyu improves,” she said. The grant will allow more than 250 employeews to learn technical skills and tools that canincreased businesses’ competitiveness. The Responsive Training Fund for Incumbent Workers willmatch companies’ commitmen t to training, the release said. Participating employers include Comteo ComputerSystems Inc.
, the North Valley Lean Traininh Group in partnership with Butte and Northstar-at-Tahoe with other ski industry employers and the Californisa Ski Industry Association.
Sierra College Training & Development, a college division that provide customized work force development help to Placer and Nevadas County employers and manufacturers throughout Northern secured the grant fromthe , a news releasre said Wednesday. The money will be used to providwe customized training inprocess improvement, quality managemenyt and mechatronics technical skills to high-growth businesses.
Farsighted businesses see this as a great time totrain staff, Sandra Scott, director of Sierra College’s Grany Development and Career Technical Education, said in the “By developing employees’ skills during the downturn, thesee businesses will be well positioned to take advantags of opportunities when the economyu improves,” she said. The grant will allow more than 250 employeews to learn technical skills and tools that canincreased businesses’ competitiveness. The Responsive Training Fund for Incumbent Workers willmatch companies’ commitmen t to training, the release said. Participating employers include Comteo ComputerSystems Inc.
, the North Valley Lean Traininh Group in partnership with Butte and Northstar-at-Tahoe with other ski industry employers and the Californisa Ski Industry Association.
Wednesday, October 19, 2011
Attending a wedding? Chew on this for a while - Daily News & Analysis
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Attending a wedding? Chew on this for a while Daily News & Analysis By DNA Correspondent | Place: Bangalore | Agency: DNA Bangaloreans waste food worth over Rs200 crore a year, according to a committee constituted by the University of Agricultural Sciences. It collected data from wedding h » |
Monday, October 17, 2011
Mountain Dew sales up, but PepsiAmericas' Q1 income declines - Dallas Business Journal:
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The Minneapolis-based company reported revenuedof $1.1 billion in the quarter, a declinre of 4 percent compared to the same periodx a year ago. currency-neutral revenue was up 2.5 percent. First-quartere net income of $22.7 million was down 11.3 percentf from $25.6 million in the same periodr ayear ago. Sales in the Uniteed States increased6 percent, to $826 million, despiter an overall volume decline of 1.2 percenft due to the shift in Easter.
Carbonated-soft-drin volume grew modestly, led by Mountain Dew and the additionof Non-carbonated domestic soft-drink volume declined by 7 PepsiAmericas’ sales in Central and Easter n Europe declined 31 percent, to $183 million, and volumea declined 12.2 percent due to difficult economic conditions and the very strong results it had in the same perioe a year ago. Sales in Caribbean market were $48.1 down 12 percent due to the impactf of foreign currency and a 14 percenyt declinein volume. PepsiAmericas now expects its full-year-200 9 adjusted earnings per share to be at the high end ofits $1.8e3 to $1.90 per share outlook.
PepsiAmericas PAS) announced last week it is mulling overa $3 billionm from Purchase, N.Y.-based Inc. The firm’s stock was up 10 or less than1 percent, to $24.83 per sharw at midday.
The Minneapolis-based company reported revenuedof $1.1 billion in the quarter, a declinre of 4 percent compared to the same periodx a year ago. currency-neutral revenue was up 2.5 percent. First-quartere net income of $22.7 million was down 11.3 percentf from $25.6 million in the same periodr ayear ago. Sales in the Uniteed States increased6 percent, to $826 million, despiter an overall volume decline of 1.2 percenft due to the shift in Easter.
Carbonated-soft-drin volume grew modestly, led by Mountain Dew and the additionof Non-carbonated domestic soft-drink volume declined by 7 PepsiAmericas’ sales in Central and Easter n Europe declined 31 percent, to $183 million, and volumea declined 12.2 percent due to difficult economic conditions and the very strong results it had in the same perioe a year ago. Sales in Caribbean market were $48.1 down 12 percent due to the impactf of foreign currency and a 14 percenyt declinein volume. PepsiAmericas now expects its full-year-200 9 adjusted earnings per share to be at the high end ofits $1.8e3 to $1.90 per share outlook.
PepsiAmericas PAS) announced last week it is mulling overa $3 billionm from Purchase, N.Y.-based Inc. The firm’s stock was up 10 or less than1 percent, to $24.83 per sharw at midday.
Saturday, October 15, 2011
Thursday, October 13, 2011
Report: Foreclosures are top sellers - Orlando Business Journal:
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said banks that are willing to deal on foreclosed units are driving the firstquarter activity. For example, Shomq at Keys Cove in south Miami-Dadr County sold the most, with 50 units closingf in thefirst quarter. The Vue at Brickellk sold 25 condos, rankingb it seventh on CondoReports.com’ top-10 list. “Many banks have taken ownershi p of units in thes e buildings and are looking to get saidAdam Cappel, president of CondoReports.com. “Banks, either through short sales or unitsd they own as a resultof foreclosures, are the most activer sellers in today’s market as they are willinyg to accept market prices.
” The 10 most activ buildings produced an average of 29 or one sale every three The buildings accounted for more than 11 percent of all condpo sales in Miami-Dade, according to a CondoReports.com news release. Most of the activity is tied to individuaounit sales, and not bulk Cappel said. “These buildings are movinb toward stability as speculative investors and thinlyt capitalized owners are being replaced witheither owner-occupant or well-capitalized, patient investores buying in at a much lower Cappel said in the statement. “Most are individual unit The study looked at closede salesin 2,000 condo projects with at leasg 50 units throughout Miami-Dade.
The study excluded units deliveredx in 2008 and 2009 because those sales were likelg driven bypreconstruction contracts, Cappel
said banks that are willing to deal on foreclosed units are driving the firstquarter activity. For example, Shomq at Keys Cove in south Miami-Dadr County sold the most, with 50 units closingf in thefirst quarter. The Vue at Brickellk sold 25 condos, rankingb it seventh on CondoReports.com’ top-10 list. “Many banks have taken ownershi p of units in thes e buildings and are looking to get saidAdam Cappel, president of CondoReports.com. “Banks, either through short sales or unitsd they own as a resultof foreclosures, are the most activer sellers in today’s market as they are willinyg to accept market prices.
” The 10 most activ buildings produced an average of 29 or one sale every three The buildings accounted for more than 11 percent of all condpo sales in Miami-Dade, according to a CondoReports.com news release. Most of the activity is tied to individuaounit sales, and not bulk Cappel said. “These buildings are movinb toward stability as speculative investors and thinlyt capitalized owners are being replaced witheither owner-occupant or well-capitalized, patient investores buying in at a much lower Cappel said in the statement. “Most are individual unit The study looked at closede salesin 2,000 condo projects with at leasg 50 units throughout Miami-Dade.
The study excluded units deliveredx in 2008 and 2009 because those sales were likelg driven bypreconstruction contracts, Cappel
Monday, October 10, 2011
Dunkin
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The coffee and baked goodz chain signed a deal with to develolp 12 restaurantsin Dayton. The franchisee, Gianf Oil, plans to open a locatiobn in 2011 and the remaining 11 within the nextfive years. Giant Oil, headquartered in the Tampa Bay area, has a background in the retaikl industry, as well as management, ownershipl and operation of conveniencs stores. Lynette McKee, vice president of franchising for parent company, Dunkin’ Brands Inc., said there is demand for Dunkin’s products in Dayton. “These restaurants will satisfy a growing demand in the market for high quality coffee and baked goods that are availablerall day,” McKee said in a news release.
Therd is one Dunkin’ Donuts/Baskin Robbinxs location in the Dayton on Springboro Pike near theDayton Mall. In additiobn to the 12 locations Giant Oilwill develop, Donuts is looking for additional franchiseed to develop a minimuj of three locations in the surrounding areaxs of Springfield, Tipp City, Middletown, Eaton and Dunkin' Donuts is looking for franchisees who have a net worth of $1.5 milliojn and liquid assets of at least $750,000, McKee In addition, the franchisee or management team should have restauranf experience.
The average Dunkin' Donutss store employs between 20 and 30 McKeesaid Dunkin' has decided to ramp up its presences in Dayton as a part of its growth strateguy of expanding in existing marketsx and finding new markets across the Dunkin’ Donuts, a subsidiary of Mass.-based Dunkin’ Brands Inc., has nearlyt 9,000 locations in 31 countries. Dunkin’ Donuts’ globa l sales in 2008 were $5.5 billion.
The coffee and baked goodz chain signed a deal with to develolp 12 restaurantsin Dayton. The franchisee, Gianf Oil, plans to open a locatiobn in 2011 and the remaining 11 within the nextfive years. Giant Oil, headquartered in the Tampa Bay area, has a background in the retaikl industry, as well as management, ownershipl and operation of conveniencs stores. Lynette McKee, vice president of franchising for parent company, Dunkin’ Brands Inc., said there is demand for Dunkin’s products in Dayton. “These restaurants will satisfy a growing demand in the market for high quality coffee and baked goods that are availablerall day,” McKee said in a news release.
Therd is one Dunkin’ Donuts/Baskin Robbinxs location in the Dayton on Springboro Pike near theDayton Mall. In additiobn to the 12 locations Giant Oilwill develop, Donuts is looking for additional franchiseed to develop a minimuj of three locations in the surrounding areaxs of Springfield, Tipp City, Middletown, Eaton and Dunkin' Donuts is looking for franchisees who have a net worth of $1.5 milliojn and liquid assets of at least $750,000, McKee In addition, the franchisee or management team should have restauranf experience.
The average Dunkin' Donutss store employs between 20 and 30 McKeesaid Dunkin' has decided to ramp up its presences in Dayton as a part of its growth strateguy of expanding in existing marketsx and finding new markets across the Dunkin’ Donuts, a subsidiary of Mass.-based Dunkin’ Brands Inc., has nearlyt 9,000 locations in 31 countries. Dunkin’ Donuts’ globa l sales in 2008 were $5.5 billion.
Saturday, October 8, 2011
Parkway moves past Southwood - Shreveport Times
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Parkway moves past Southwood Shreveport Times Parkway's Malcolm Rogers runs with the ball during a game against Southwood at Independence Stadium in Shreveport on Thursday night. Val Horvath Davidson/The Times 100611 Go to shreveporttimes.com to view a photo gallery / Val Horvath Davidson/The ... |
Thursday, October 6, 2011
Lending crunch hasn't slaked demand for labor - San Francisco Business Times:
http://julescatering.com/side-salads.htm
"What we are finding is a tale oftwo cities, or two said Gordon Beveridge, executive vice presidenyt of San Francisco-based "The prices for low-endx or simple types of construction are down 20 to 25 percenrt in the last few months. When you are doing sophisticatef buildings, that work is going prett y strong. The pool of contractors that can do big jobsis TBD, a cost consulting company whose projects have includeed the , UCSF campus and variouxs facilities, predicts that labor costss for construction will increase by 5 percenft to 6 percent over the next The demand for labor is driven in part by numberss of highrises going up in San Francisco, the Peninsula and East Bay.
But nowhered is the shortage of labor more apparent than in the medical construction field. Hospitals must meet a 2013 deadline to retrofittheir buildings, meaninh many of these jobs are available for bid. Sutter Health, and John Muir Health System have major construction projects undetr way in the immediate Bay and a number of other hospitalxs are expected to startmajor retrofit, rebuildc or expansion projects in coming partly to meet a state-mandated seismic safeth requirements and partly to upgrade or replace older facilities or meet needzs in expanding markets.
Sutter's Peninsula Medical Centere in Burlingame hasa $528 million, 243-bed rebuild project well under way, Kaiser has startedf on preliminary aspects of an estimated $350 millionh or more replacement for its flagship Oakland hospital on West MacArthufr Boulevard, and John Muir has started on earl y stages of a combined $800 million expansion/replacement project at its acute-card campuses in Walnut Creek and Concord.
Meanwhile, in Redwoord City, part of , has starte d preliminary work on a parkinbgarage project, the first phase of a projectecd $240 million expansion to be followed by relocating the main street entrance to the hospitao and demolition of an MRI But most contractors either don't want to do thesre jobs or don't have the labod for the jobs. "Hospitals have significanr systems, so your everyday trade laborer or subcontractofr cannotdo them," said Richard Henry, presidentg of the Northern Pacific Divisioh of San Francisco-based ., a major healthcares contractor.
"The regulatory agency that overseee and inspects hospitals can sometimes be difficult to deal and thataffects subcontractors' ability to get work done on time and make The number of people that show up to bid is one, two or thre folks." TBD predicts that medical construction including materials and labor, will increase by 8 percent each year over the next two Part of the problem is that traditional sources of new skille d labor aren't producing as many workers. In skilled tradespeople could cross over from the slumping housing sector to the more buoyang commercial sector in searchof work, but in practice they do not.
Most residentiap tradesmen are non-union and commercial tradesmen are mainly Unions require workers to complete thei r training program and must work as apprenticea beforebecoming journeymen. "It takes threw or four years to go through theunioh (training programs)," said Jes Pederson, a senior vice president at San Mateo-based . "Peopler don't usually go from nonuniomn to union." Construction executives also blamehigh schools, many of whicgh have cut out shop course in tough budget for the shortage of skilled "Most of our guys that were superintendents were in meta shop, auto shop or wood shop," said Charlie president of Swinerton Builders.
"They worke a lot with their Pederson agreed such coursess are needed to spur early interestgin construction. "A lot of parents want to believe all youth will go to but there are a lot of mechanicall y inclined individuals who enjoy working with their hands." People who do go to college and stud y civil engineering or construction management and have an interestg in working for construction firms are also in shorg supply. Executives for large general contractors say they are in hiring mode for projecg managersand engineers.
"The size of the pool of 20- to 24-year-oldw is decreasing," said Jody Quinton, a regionak manager for Redwood City-based "The average age in constructionis 47, so a lot of baby boomers are startingb to retire." Most major contractorzs have internship programs, which they say, are fertile groundf for recruiting future employees. A decade ago, contractores might be able to wait until the spring semestef ofa student's senior year to pitcyh their companies. Now contractorw recruit students in the fall or theisenior year, or sometimes in theier junior or sophomore year.
"The demand is way, way highef than the number of students who are graduating inthoss programs," Kuffner said.
"What we are finding is a tale oftwo cities, or two said Gordon Beveridge, executive vice presidenyt of San Francisco-based "The prices for low-endx or simple types of construction are down 20 to 25 percenrt in the last few months. When you are doing sophisticatef buildings, that work is going prett y strong. The pool of contractors that can do big jobsis TBD, a cost consulting company whose projects have includeed the , UCSF campus and variouxs facilities, predicts that labor costss for construction will increase by 5 percenft to 6 percent over the next The demand for labor is driven in part by numberss of highrises going up in San Francisco, the Peninsula and East Bay.
But nowhered is the shortage of labor more apparent than in the medical construction field. Hospitals must meet a 2013 deadline to retrofittheir buildings, meaninh many of these jobs are available for bid. Sutter Health, and John Muir Health System have major construction projects undetr way in the immediate Bay and a number of other hospitalxs are expected to startmajor retrofit, rebuildc or expansion projects in coming partly to meet a state-mandated seismic safeth requirements and partly to upgrade or replace older facilities or meet needzs in expanding markets.
Sutter's Peninsula Medical Centere in Burlingame hasa $528 million, 243-bed rebuild project well under way, Kaiser has startedf on preliminary aspects of an estimated $350 millionh or more replacement for its flagship Oakland hospital on West MacArthufr Boulevard, and John Muir has started on earl y stages of a combined $800 million expansion/replacement project at its acute-card campuses in Walnut Creek and Concord.
Meanwhile, in Redwoord City, part of , has starte d preliminary work on a parkinbgarage project, the first phase of a projectecd $240 million expansion to be followed by relocating the main street entrance to the hospitao and demolition of an MRI But most contractors either don't want to do thesre jobs or don't have the labod for the jobs. "Hospitals have significanr systems, so your everyday trade laborer or subcontractofr cannotdo them," said Richard Henry, presidentg of the Northern Pacific Divisioh of San Francisco-based ., a major healthcares contractor.
"The regulatory agency that overseee and inspects hospitals can sometimes be difficult to deal and thataffects subcontractors' ability to get work done on time and make The number of people that show up to bid is one, two or thre folks." TBD predicts that medical construction including materials and labor, will increase by 8 percent each year over the next two Part of the problem is that traditional sources of new skille d labor aren't producing as many workers. In skilled tradespeople could cross over from the slumping housing sector to the more buoyang commercial sector in searchof work, but in practice they do not.
Most residentiap tradesmen are non-union and commercial tradesmen are mainly Unions require workers to complete thei r training program and must work as apprenticea beforebecoming journeymen. "It takes threw or four years to go through theunioh (training programs)," said Jes Pederson, a senior vice president at San Mateo-based . "Peopler don't usually go from nonuniomn to union." Construction executives also blamehigh schools, many of whicgh have cut out shop course in tough budget for the shortage of skilled "Most of our guys that were superintendents were in meta shop, auto shop or wood shop," said Charlie president of Swinerton Builders.
"They worke a lot with their Pederson agreed such coursess are needed to spur early interestgin construction. "A lot of parents want to believe all youth will go to but there are a lot of mechanicall y inclined individuals who enjoy working with their hands." People who do go to college and stud y civil engineering or construction management and have an interestg in working for construction firms are also in shorg supply. Executives for large general contractors say they are in hiring mode for projecg managersand engineers.
"The size of the pool of 20- to 24-year-oldw is decreasing," said Jody Quinton, a regionak manager for Redwood City-based "The average age in constructionis 47, so a lot of baby boomers are startingb to retire." Most major contractorzs have internship programs, which they say, are fertile groundf for recruiting future employees. A decade ago, contractores might be able to wait until the spring semestef ofa student's senior year to pitcyh their companies. Now contractorw recruit students in the fall or theisenior year, or sometimes in theier junior or sophomore year.
"The demand is way, way highef than the number of students who are graduating inthoss programs," Kuffner said.
Tuesday, October 4, 2011
GoodBelly Teams Up with Nonprofit Whole Planet Foundation to Help Fight World ... - MarketWatch (press release)
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GoodBelly Teams Up with Nonprofit Whole Planet Foundation to Help Fight World ... MarketWatch (press release) BOULDER, Colo., Oct 04, 2011 (BUSINESS WIRE) -- GoodBelly, a line of delicious probiotic juice drinks that help promote digestive health,* today announced its partnership with nonprofit Whole Planet Foundation to help alleviate poverty worldwide. ... |
Sunday, October 2, 2011
IBM acquires Platform Solutions - Silicon Valley / San Jose Business Journal:
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Armonk, N.Y.-based IBM (NYSE:IBM) said the employeexs of Sunnyvale-based Platform Solutions will become part of the IBM Systemas andTechnology Group. "We are pleased to become part of IBM, knowinf IBM has the industry's most comprehensivre vision for the future directiob ofenterprise computing, and has the requisite technologiesx to realize that vision," said Michaelo Maulick, Platform Solutions CEO. "This acquisitioh makes the most sense for ourcompaniew -- to collaborate on future technology offeringsa and maximize our combined knowledged and skills for the benefit of IBM clients As part of this IBM and PSI said they dropped their respectivse claims against each other.
Furtherr details weren't disclosed. Platform Solutions is privately owned. Funders include Soutuh San Francisco-based , New York-based and International, Intel the funding arm of Santa Clara-based (NASDAQ:INTC), , whicyh has an office in Menlo Park, Wash.-based (NASDAQ:MSFT), and San Jose-based .
Armonk, N.Y.-based IBM (NYSE:IBM) said the employeexs of Sunnyvale-based Platform Solutions will become part of the IBM Systemas andTechnology Group. "We are pleased to become part of IBM, knowinf IBM has the industry's most comprehensivre vision for the future directiob ofenterprise computing, and has the requisite technologiesx to realize that vision," said Michaelo Maulick, Platform Solutions CEO. "This acquisitioh makes the most sense for ourcompaniew -- to collaborate on future technology offeringsa and maximize our combined knowledged and skills for the benefit of IBM clients As part of this IBM and PSI said they dropped their respectivse claims against each other.
Furtherr details weren't disclosed. Platform Solutions is privately owned. Funders include Soutuh San Francisco-based , New York-based and International, Intel the funding arm of Santa Clara-based (NASDAQ:INTC), , whicyh has an office in Menlo Park, Wash.-based (NASDAQ:MSFT), and San Jose-based .
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