March 2011

Veteran Software Leader to Head Mashery’s Product Engineering and Operations

March 30, 2011

SAN FRANCISCO, CA–(Marketwire – March 30, 2011) – Mashery, the leading provider of API (Application Programming Interface) enablement and management services, announced today it has expanded its executive team with the appointment of Heather Mckelvey, vice president of engineering and operations.

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Japan Crisis Renews Call For Wider Distribution of Radiation Pills in U.S.

March 30, 2011

NEW YORK — Three weeks ago, it was a chemical compound familiar mostly to pharmacists and radiation experts. Now, in light of the ongoing nuclear crisis at the Fukushima Daiichi plant, potassium iodide has become a highly desired commodity in both Japan and the United States for its protection against radiation-induced thyroid cancer, especially in young children. But in the years leading up to the calamity at Fukushima, the U.S. Nuclear Regulatory Commission and top officials in the Bush and Obama administrations have resisted efforts to expand distribution of potassium iodide to a wider array of people living near nuclear power plants in the United States. Their principal argument has been that limiting access to food, water and milk potentially tainted by radioactive elements is more effective than supplying more radiation pills to the public. Congress in 2002 passed a counterterrorism bill that required state and local governments to stock supplies of potassium iodide for people living within a 20-mile radius of nuclear power plants, an expansion of an optional 10-mile zone for the radiation pills that was previously in place. The law included a provision, however, that allowed the president to waive the new rules if alternative, more effective measures were identified. In a January 2008 memo , a science adviser to President George W. Bush wrote that it would be more effective to tell people outside of the 10-mile zone to evacuate or avoid eating contaminated food from the area if there were a radiological release. The memo from John M. Marburger, the director of Bush’s Office of Science and Technology Policy, wrote that the new 20-mile mandate “places an unnecessary burden on state and local emergency preparedness coordinators already struggling with the establishment and maintenance of programs within the 10-mile (emergency zone).” He added, “A nuclear power plant accident that creates public health risks beyond the 10-mile range would be a highly unusual catastrophic event.” But as concerns widen over elevated radiation levels found in food and water supplies 50 to 100 miles away from the stricken Fukushima plant in Japan, there is a growing scrutiny of U.S. emergency response standards in the event of a nuclear disaster at home. “When radiation comes out of a plant like this, you have no idea how far it’s going to go, how heavily it’s going impact one area versus another,” said Jeffrey Patterson, a radiation exposure expert at the University of Wisconsin School of Medicine and Public Health who serves on the board of the advocacy group Physicians for Social Responsibility. “It has to do with wind patterns, it has to do with rainstorms. All of those things affect where the iodine goes.” The 10-mile emergency zone in the United States applies both to distribution of radiation pills and mandatory evacuation around a nuclear power plant, which is significantly less than the Obama administration’s call last week for evacuation of U.S. citizens within 50 miles of the Fukushima Daiichi facility. The disaster in Japan has prompted renewed calls to expand distribution of potassium iodide to a wider area, particularly from Rep. Edward Markey (D-Mass.), who authored the potassium iodide provision in the 2002 counterterrorism bill. Markey wrote a letter to the Obama administration in the week after the tsunami urging that the 20-mile zone be adopted. “We should not wait for a catastrophic accident at or a terrorist attack on a nuclear reactor in this country to occur to implement this common-sense emergency preparedness measure,” Markey wrote. The letter followed a similar December 2009 letter to Obama. The administration rejected Markey’s argument last summer, claiming that the previous limits were adequate. Potassium iodide is in no way a cure for radiation emitted from a nuclear disaster, but if taken before or immediately after exposure it can be effective in reducing the risk of thyroid cancer. Taking the pills effectively fills the thyroid gland with enough iodine to prevent the gland from absorbing radioactive iodine, a harmful isotope emitted from a nuclear reactor. Infants and young children are particularly susceptible to thyroid injury. The pills can also be harmful to young children, however, if taken in greater quantities than prescribed. Adults over 40 have the least risk of developing thyroid cancer from radiation, according to the Centers for Disease Control and Prevention , and also are more prone to an allergic reaction. The pills do not shield the body from other complications due to radioactive exposure, or from any other radioactive elements aside from iodine. People who are allergic to iodine or have a preexisting thyroid disease are advised to consult doctors before taking potassium iodide, according to the CDC. In recent weeks there has been a run on potassium iodide at drug stores in the United States, as some have panicked that radiation from the reactor in Japan would reach the West Coast. Local and state public health agencies in California have warned against taking potassium iodide in response to the Japanese reactor crisis, because of the minuscule chance of radiation traveling thousands of miles across the Pacific Ocean. The debate in the United States involves those living in the immediate vicinity of a reactor. The Nuclear Regulatory Commission and the Department of Health and Human Services have provided potassium iodide to state and local government agencies that request the pills within the 10-mile zones around nuclear plants. Local government agencies then either choose to distribute the potassium iodide or stockpile it in the event of an emergency. At the time the 20-mile rules were proposed, the Nuclear Regulatory Commission wrote in formal comments that expanding potassium iodide distribution was “unnecessary.” “We have concluded that other, more effective, protective measures are in place to protect the thyroid gland in the event of a release of radioactive iodine,” the commission wrote in a letter to the Department of Health and Human Services, which was tasked with enforcing the rule. The alternatives included preventing people in the area from eating or drinking contaminated food, milk and water, and protecting livestock. Other state and local government bodies expressed concerns about requirements to expand stockpiles of potassium iodide. Although the NRC pays for the potassium iodide supplies, state and local governments must pay to administer the pills to the public. A spokeswoman for the Nuclear Regulatory Commission wrote in an email, “As part of the NRC’s 30-, 60- and 90-day report on ‘lessons learned’ from the Japanese nuclear emergency, all aspects of nuclear power plant safety and security regulations will be reviewed.” A spokesman for Obama’s Office of Science and Technology Policy offered a similar response, saying that distribution of potassium iodide will be among many policies under review.

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Schumer, Cantor Go Head-To-Head Over Federal Budget

March 30, 2011

WASHINGTON — They’re a pair of flamboyant lawyers who are fond of cameras and adept at messaging, two deputies with ambitions to land, someday, on top. So the emerging political warfare led by Democratic Sen. Chuck Schumer and Republican Rep. Eric Cantor, now playing out in multimedia form over the budget impasse, can resemble a Spy vs. Spy contest over some of the most serious issues facing Congress and the nation. For them it’s not just about getting to a budget agreement, cutting spending or the deficit. In fact, neither Cantor nor Schumer is directly involved in the sensitive, secretive budget negotiations. But the snippy rhetoric is expected to intensify as the April 8 deadline – and a possible government shutdown – loom. To these two, and arguably all of the congressional Republicans and Democrats they represent, the federal budget mess is a campaign within the long 2012 re-election campaign. And that means all the responses and “pre-sponses” the Internet, the Twitter verse, television and the old-fashioned telephone allow. Tuesday provided an apt, daylong example. Reporters dialing in to a news conference-by-phone could hear Schumer, the media-savvy New Yorker tapped by Majority Leader Harry Reid to handle the party’s messaging, giving talking points on the budget to other Democratic senators. He was clearly unaware that reporters were already on the line. Schumer’s advice was familiar: Call the House Republicans’ proposed spending cuts “extreme.” “Extreme and draconian,” Schumer, 60, advised. “The subtext of this is, the only way we can avoid a shutdown is for (House Speaker John) Boehner to come up with a reasonable compromise and not just listen to what the tea party wants.” The GOP’s victory dancing began, from Cantor’s office and beyond. Within moments, Boehner’s office fired off an email with an account of the overheard conversation. Then Cantor, 47, referred to Schumer several times during the Republican’s weekly off-camera briefing. “We have seen what the motive is behind Mr. Schumer,” Cantor said. “He says every spending cut is unreasonable.” On-camera later, there was more. “I think we did find out that Chuck Schumer’s intent on playing political games,” the Virginia Republican said. Other Republicans chimed in. With a flash of smirk, Boehner twice referenced the Democrats’ “marching orders.” Rep. Kevin McCarthy, R-Calif., another Republican leader, said he wonders who’s in charge of the Senate. “Do we have a de facto leader in Schumer, who thinks he wants to engineer a political game, as many reporters could actually hear on the call?” And Rep. Jeb Hensarling quipped that it was “extremely revealing that Senate Democrats have instructed their members to use extreme language.” The exchange followed a similar back-and-forth last week, which included Schumer’s response to a Cantor speech at Stanford University – before the Republican had delivered it, and before many reporters had even obtained a copy. On Friday, a Twitter war broke out after Schumer said on MSNBC’s “Morning Joe” that “some progress” had been made between Reid and Boehner in budget talks. In one tweet, Cantor’s office didn’t even mention Reid. “Sen. Schumer and the WH (White House) continue to abandon their responsibility to get our fiscal house in order by negotiating off of the status quo,” tweeted CantorPress. For his part Tuesday, Schumer wasn’t backing off the talking points overheard by reporters. They’re the same ones he and other Democrats have been using for weeks, a point underscored when Schumer stopped talking, the conference call officially began and the senators on the line delivered prepared statements. First up: Sen. Barbara Boxer of California. “We have a very straightforward message and each of us will give it in our own words. And my words are these,” Boxer said. “We Senate Democrats are calling on Speaker Boehner to abandon the extreme right wing of his Republican caucus.”

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Utah Recognizes Gold Coins As Legal Tender

March 30, 2011

The Beehive State has a new measure on the books that eliminates state taxes on the exchange of gold and silver coins and directs the legislature to study an “alternative form of legal tender.” The law, signed by Gov. Gary Herbert last week, also recognizes gold and silver coins issued by the federal government as legal tender in the state.

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Video: Curran Calls Smith’s Galleon Trial Testimony `Damaging’

March 30, 2011

March 30 (Bloomberg) — Thomas Curran, partner at Peckar & Abramson, discusses the insider-trading trial of Galleon Group LLC co-founder Raj Rajaratnam. Ex-employee Adam Smith testified yesterday that part of his job was to obtain revenue figures before they became public from insiders at Intel Corp., Intersil Corp., Synaptics Inc. and other publicly traded companies. Curran speaks with Erik Schatzker on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

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Serabi Mining Plc ("Serabi" or the "Company") Completion of TSX Listing C$4.95 Million Funding and Board Changes

March 30, 2011

LONDON–(Marketwire – March 30, 2011) – Serabi Mining plc ( AIM : SRB ) ( TSX : SBI ) ( TSX : SBI.WT ) is pleased to announce that the Company has completed its Canadian initial public offering of 9,000,000 units (the “Units”) at a price of C$0.55 per Unit (the “Offering Price”) for gross proceeds to the Company of C$4.95 million (the “Offering”). Each Unit is comprised of one ordinary share (an “Ordinary Share”) and one-half of one ordinary share purchase warrant of the Company (each whole ordinary purchase warrant, a “Warrant”), with each Warrant being exercisable to acquire one Ordinary Share at an exercise price of C$0.75 until 2 December 2012. The Company’s Ordinary Shares and Warrants have begun trading on 30 March 2011 on the Toronto Stock Exchange (the “TSX”) under the symbol SBI and SBI.WT, respec

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Layoffs Plunge — But Not For Government Workers

March 30, 2011

NEW YORK: The number of planned layoffs at U.S. firms fell in March, despite continued downsizing in the public sector, a report said on Wednesday. Employers announced 41,528 planned job cuts this month, down 18 percent from the 50,702 cuts announced in February, according to the report from consultants Challenger, Gray & Christmas, Inc. The March figure was down 39 percent from a year ago, when 67,611 job cuts were announced, the report said. Overall, 130,749 job cuts were announced in the first three months of the year, marking the lowest rate of downsizing since 1995, when employers announced 97,716 first-quarter job cuts, Challenger, Gray said. Announced first-quarter job cuts for 2011 were also down 28 percent compared with the same period of 2010, when there were 181,183 planned cuts, the report said. Government has led job reduction this year, with 19,099 planned cuts in March — the highest in 12 months, the report said. There were 41,929 government job cuts announced in the first three months of 2011 — a 33 percent drop from the 62,700 government layoffs announced in the first three months of last year. “Despite the decline from last year, it is difficult to be optimistic about the outlook for government workers,” Rick Cobb, executive vice president of Challenger, Gray & Christmas, said in a statement. “Most cities and states have only just begun to address their massive budget deficits and we have yet to see how budget cutbacks are going to impact workers at the federal level.” Downsizing activity in other sectors appears to be stabilizing, he said. “The sectors that had the heaviest job losses at this point a year ago have seen significantly fewer layoffs,” Cobb said. Downsizing has slowed in the pharmaceutical, auto and telecommunications sectors, compared with a year ago, he said. The downsizing figures come ahead of the much-anticipated U.S. jobs report, which is due at 8:30 a.m. EDT (1230 GMT) on Friday. The U.S. economy is expected to have added 200,000 private jobs in March, and slightly fewer jobs overall for non-farm payrolls, according to a Reuters poll. For more, see (Reporting by Edith Honan; Editing by Dan Grebler) Copyright 2010 Thomson Reuters. Click for Restrictions .

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Video: Silvia Expects 8.5% to 9% Jobless Rate for Rest of 2011

March 30, 2011

March 30 (Bloomberg) — John Silvia, chief economist at Wells Fargo Securities, discusses the outlook for the U.S. labor market and economy. Employment at U.S. companies increased by 201,000 workers in March, according to figures from ADP Employer Services. Silvia talks with Betty Liu, Michael McKee and Jon Erlichman on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

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Wisconsin Republicans Face New Hurdle In Union Battle

March 30, 2011

MADISON, Wis. — Wisconsin Gov. Scott Walker and his fellow Republicans face a new hurdle in their campaign to curb public sector unions’ power. So far Republicans have managed win after win – overcoming massive protests and outmaneuvering Democrats to push their plan through the Legislature, then finding a way to at least temporarily get around a court order that would have kept the explosive union bargaining law from taking effect. Now they face another court order blocking the law, which would strip most public employees of nearly all their collective bargaining rights. And this time the judge has said there will be consequences for violators. Still, the matter is far from settled. Republicans haven’t said what their next move will be, but it’s likely the law’s legitimacy will be decided by the state Supreme Court. Dane County Circuit Judge Maryann Sumi chastised state officials Tuesday for ignoring her earlier order to halt the law’s publication. “Apparently that language was either misunderstood or ignored, but what I said was the further implementation of (the law) was enjoined,” Sumi said during a hearing. “That is what I now want to make crystal clear.” Republican lawmakers pushed the law through the Legislature earlier this month despite massive protests that drew up to 85,000 people to the state Capitol. After diffusing a Democratic filibuster in the Assembly, Republicans used a parliamentary procedure in the Senate to circumvent a Democratic boycott meant to prevent a vote. Walker signed the bill on March 11, triggering a number of lawsuits from opponents. Sumi issued a temporary restraining order blocking Secretary of State Doug La Follette from publishing the bill – typically the last step before a law takes effect. Republicans got around that by having the Legislative Reference Bureau, another state agency, publish the bill on Friday. They declared victory, saying the law went into effect on Saturday. Sumi’s order on Tuesday told state officials to stand down from any further action to put the law into effect. This time, she warned that anyone who defied it would face sanctions. She did not say what those sanctions might be. “Wisconsin working families hope that Scott Walker and his Republican allies in the Legislature will finally begin to respect our state’s judicial process and reverse any damage they’ve done to the working families of our state,” Stephanie Bloomingdale, secretary-treasurer of the Wisconsin State AFL-CIO, said in a statement. Wisconsin Department of Administration Secretary Mike Huebsch, Walker’s top aide, issued a statement saying the agency will evaluate the judge’s order. State Department of Justice spokesman Steve Means said the agency continues to believe the law was properly published and is in effect. Dane County Democratic District Attorney Ismael Ozanne – the plaintiff in the lawsuit heard Tuesday – argued the reference bureau can’t publish a law without a date from the secretary of state. The district attorney asked Sumi to declare the law had not been published, but she refused to rule, saying she wants to gather more testimony. Attorneys for the Department of Justice, which is representing the Republicans, contend the case means nothing because legislators are immune from lawsuits and Sumi has no authority to intervene in the legislative process. “Her action today again flies in the face of the separation of powers between the three branches of government,” Assembly Speaker Jeff Fitzgerald, R-Horicon, said in a statement. Sumi is set to hear more arguments on Friday on the law’s publication – or lack thereof – and whether GOP legislative leaders violated the state’s open meetings law. Meanwhile, the state Supreme Court is considering whether to take up an appeals court’s request to hear the case. The law requires most public workers to contribute more to their pensions and health insurance. It also takes away their rights to collectively bargain for anything except wage increases no greater than inflation. Walker, who wrote the law, insists the measure is necessary to help close the state’s budget deficit. But Democrats see it as a political move to cripple unions, which are traditionally among their strongest campaign supporters. Dane County Executive Kathleen Falk, a Democrat, and several unions have filed lawsuits challenging the Senate vote, arguing the final law still contains fiscal components. Those lawsuits are still pending.

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Coyote Resources Appoints New Director

March 30, 2011

RENO, NV–(Marketwire – March 30, 2011) – Coyote Resources Inc. ( OTCBB : COYR ) (“Coyote” or the “Company”) is pleased to announce the appointment of Mr. David C. Beling to the Board of Directors, effective March 17, 2011. 

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Cal-Bay International, Inc. Announces Changes to Board of Directors

March 30, 2011

LAS VEGAS, NV–(Marketwire – March 30, 2011) –  Cal-Bay International, Inc . ( PINKSHEETS : CBYI ) today confirmed the appointment of Kevin Denniston as Company President and CEO simultaneous with the resignation of Shaun Bailey.

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Video: Donohue Says Dodd-Frank Rulemaking Is `Challenging’

March 30, 2011

March 30 (Bloomberg) — U.S. Chamber of Commerce President Tom Donohue talks about the outlook for implementing the Dodd-Frank financial regulatory overhaul. Donohue, speaking with Erik Schatzker on Bloomberg Television’s “InsideTrack,” also discusses today’s conference on capital markets competitiveness hosted by the Chamber in Washington. (Source: Bloomberg)

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TRC Appoints Richard H. Grogan to Board of Directors

March 30, 2011

Chairman of Talisman Management Brings Expertise in Capital and International Markets

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Miller Named VP-Claims at Uni-Ter

March 30, 2011

ATLANTA, GA–(Marketwire – March 30, 2011) – Jonna Miller, Senior Claims Examiner, has been promoted to Vice President-Claims at Uni-Ter Underwriting Management Corporation (UUMC), Sanford “Sandy” Elsass, President and Chief Executive Officer, announced.

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BNP Paribas Expands Latin American Economic Research Team

March 30, 2011

Hires Nader Nazmi as Senior Latin American Economist

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Video: Doug Burns Says Evidence `Piling On’ in Rajaratnam Trial

March 30, 2011

March 30 (Bloomberg) — Douglas Burns, a former federal prosecutor, talks about the insider-trading trial of Galleon Group co-founder Raj Rajaratnam. Adam Smith, former Galleon employee, told jurors in the criminal trial of Rajaratnam that part of his job was learning revenue figures before they became public from insiders at Intel Corp., the world’s largest semiconductor maker, Intersil Corp., Synaptics Inc. and other publicly traded companies. Burns speaks with Erik Schatzker on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

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Video: Joerres Says `Caution and Chaos’ Is Slowing Jobs Growth

March 30, 2011

March 30 (Bloomberg) — Jeffrey Joerres, chief executive officer of Manpower Inc., talks about the global jobs market. He speaks with Maryam Nemazee on Bloomberg Television’s “The Pulse.”

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Outbrain Expands Executive Team With Industry Veterans

March 30, 2011

Key Additions to Support Continued Growth and Bolster Publisher, Brand and Agency Relations

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Video: Gesell Says Cloud Computing `Powerful’ for Mobile Access

March 30, 2011

March 30 (Bloomberg) — Chris Gesell, director of enterprise cloud strategy at Verizon Communications Inc., discusses the outlook for cloud computing. Gesell speaks with Erik Schatzker on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

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Video: Wyplosz Says Portugal May Need $20-$30 Billion Bailout

March 30, 2011

March 30 (Bloomberg) — Charles Wyplosz, director of the International Centre for Monetary and Banking Studies, discusses the outlook for Portugal’s financial crisis. Wyplosz speaks with Deirdre Bolton on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)

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Kevin Jablonski Joins VSS Monitoring as Vice President of Business Development

March 30, 2011

SAN MATEO, CA–(Marketwire – March 30, 2011) – VSS Monitoring, Inc., the leader in monitoring visibility and optimization for network security, today announced that Kevin Jablonski has joined as vice president of business development. He brings 20 years of senior-level business development experience, having worked for technology companies such as FORE Systems, Juniper Networks, Hewlett-Packard, and Hughes Communications.

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UnionTown Energy Inc. (UTOG) Appoints Veteran Oil Industry Executive With Extensive Public Company Experience to Board of Directors

March 30, 2011

BILLINGS, MT–(Marketwire – March 30, 2011) – UnionTown Energy Inc. ( OTCBB : UTOG ) is pleased to announce the appointment of Al Radford to the Company’s Board of Directors.

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Video: Irish Stress Tests May Leave State Owning Two More Banks

March 30, 2011

March 30 (Bloomberg) — Bloomberg’s Linda Yueh reports on the outlook for the nationalization of Bank of Ireland Plc and Irish Life & Permanent Plc, the last of the country’s biggest lenders to escape state control.

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Coventor Announces Global Expansion With New Office in Southern Europe and Distribution Agreement in China

March 30, 2011

Strong Growth in MEMS Fuels Demand for Company’s Robust Design Platform

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Video: Thomson Says Ignis `Looking to Underweight’ Spanish Debt

March 30, 2011

March 30 (Bloomberg) — Stuart Thomson, international fixed-income fund manager at Ignis Asset Management, discusses the outlook for Portuguese and Spanish debt. He talks with Maryam Nemazee on Bloomberg Television’s “The Pulse.”

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Video: FDA Reviews Food Colorings; Honda Cuts U.S. Production: Video

March 30, 2011

March 30 (Bloomberg) — Jane King summarizes the top stories this morning on the Bloomberg Business Report. (Source: Bloomberg)

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Goldberg Sells Union Center Plaza Bldg. for $90 Million

March 30, 2011

Bethesda, MD-based owner/developer Stephen A. Goldberg Co. sold a 12-story, 248,576-square-foot office building at 840 First St. NE in Washington, DC, to First Potomac Realty Trust for $90 million or $362 per square foot. First Potomac, an office and industrial REIT, assumed a $57.2 million mortgage to finance the off-market deal. Goldberg purchased it from Greenebaum & Rose Associates for $80.25 million or $323 per square foot in June 2003…

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Grubb & Ellis Locks In Talks With Colony Capital, Receives $18M Loan Commitment

March 30, 2011

Grubb & Ellis Company (NYSE: GBE) announced that it has received an $18 million financing commitment from private equity firm Colony Capital, LLC. In turn, the Los Angeles-based international investment firm has secured the right to negotiate exclusively for 60 days with Grubb & Ellis to evaluate a “potential larger strategic investment” in the Santa Ana, CA-based real estate services firm, which announced 10 days ago it is weighing a possible sale…

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Trade Wings Continues Global Expansion With New Regional Headquarters in Sweden

March 30, 2011

Reuse Market Experts Address Growing Service Demand in Nordic Telecom Markets; Names Industry Veteran as Managing Director of Trade Wings AB

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Video: Ricciardi Says Portugal Must Resist Pressure for Bailout

March 30, 2011

March 30 (Bloomberg) — Jose Maria Ricciardi, chief executive officer of Banco Espirito Santo SA’s investment banking unit, talks about the prospects for a bailout of Portugal. He speaks with Francine Lacqua on Bloomberg Television’s “On The Move.”

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Video: Kantor Favors Stocks Over Bonds on Higher Rates Outlook

March 30, 2011

March 30 (Bloomberg) — Larry Kantor, head of research at Barclays Capital, discusses the outlook for equities, bonds and interest rates. He talks with Francine Lacqua on Bloomberg Television’s “On The Move.”

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Video: Lloyd’s Levene Expects `Modest’ Increase in Premiums

March 30, 2011

March 30 (Bloomberg) — Peter Levene, chairman of Lloyd’s of London, talks about the outlook for insurance premiums after the natural disasters in Japan and New Zealand. He speaks from London with Francine Lacqua on Bloomberg Television’s “On The Move.”

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Video: Whitehead Says Rio Could Control Riversdale in a Year

March 30, 2011

March 30 (Bloomberg) — Colin Whitehead, an analyst at Fat Prophets, talks about Rio Tinto Group’s bid to take control of Riversdale Mining Ltd. He speaks from Sydney with Linzie Janis on Bloomberg Television’s “Global Connection.”

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Video: Swiss Luxury Watchmakers Under Strain From Rising Demand

March 30, 2011

March 30 (Bloomberg) — Bloomberg’s Olivia Sterns reports from Basel, Switzerland, on the impact of rising demand for luxury watches on Swiss manufacturers. Patek Philippe SA Chairman Thierry Stern speaks in this report.

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Real Money: Starwood Originates Two Hotel Loans, Buys Mezz Office Loan

March 30, 2011

Starwood Property Trust deployed $352 million of capital through three separate transactions: the origination of a $165.5 million first mortgage loan, mezzanine loan and corporate loan on a portfolio of six full service hotels throughout California; the origination of a $30 million mezzanine loan on a luxury hotel on the Upper East Side of Manhattan; and the discounted purchase of a $188 million mezzanine loan secured by a portfolio of 10 office buildings…

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Lease Cancellations: Harry & David Files Ch. 11 Bankruptcy

March 30, 2011

Harry & David Holdings Inc., a leading multi-channel specialty retailer, filed for chapter 11 bankruptcy reorganization and is seeking to cancel leases on 52 ‘dark’ store leases and one storage lease. The firm, which also produces gourmet food products, reached an agreement with holders of approximately 81% of its senior notes on the terms of a reorganization that will eliminate substantial indebtedness and provide equity financing to restructure…

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CoStar Q&A: Colliers’ Warren Dahlstrom Weighs In On CRE Consolidation, Market Trends

March 30, 2011

Warren Dahlstrom, a self-described “25-year veteran of the Washington, D.C. property wars,” has recently taken on a new role that puts him squarely back in the property wars, but at a much broader scope. At the end of February, Dahlstrom was selected by Colliers International, one of the fastest growing commercial real estate brokerage and services firms in the U.S., to preside over the expansion of its investment services group, recruiting top broker…

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Cushman & Wakefield Reports Profit, Major Revenue Gain In 2010

March 30, 2011

Privately held global real estate services firm Cushman & Wakefield reported double-digit revenue growth in 2010 as the company, fueled by growth in world business districts where it has a strong presence, swung from a net loss in 2009 to a profit last year. Cushman & Wakefield, owned by Italy-based Exor, formerly the Ifil Group, reported $25.7 million in net income for the full year ended Dec. 31, 2010 based on U.S. accounting standards, compared…

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Roberto Ramos: The Dora Generation: How Kids Helped Latinos Win the Census

March 30, 2011

In my last two HuffPost entries I addressed the stellar showing of Hispanics in the 2010 Census: 50 million strong, accounting for more than half the population growth in the United States over the past decade, and making staggering gains in crucial states like Texas and California as well as traditionally non-Hispanic states like North Carolina, Ohio and Indiana. Leading this growth are Latino children and youth, a segment that is not even yet old enough to vote, but who have a remarkable impact on today’s trends, pop culture and economy. Kids under 18 have accounted for a significant portion of Hispanic growth, and a large chunk of them are 5 and under: In California and Texas alone 90% of new births can claim Latino heritage. I like to call them the “Dora Generation,” after the popular Nickelodeon cartoon character Dora the Explorer. The show was devised over a decade ago and soon took off and became one of the most popular children’s icons in history, spawning a multi-million dollar empire of products (books, dolls, clothing, games, CDs, backpacks) marketed equally to Hispanic and non-Hispanic parents and children. The Dora phenomenon continues unabated today with a new generation of kids following perfectly bilingual Dora and her sidekicks Boots, Diego and others in their adventures, being inspired by their curiosity, and taking on her Latino culture as their own. Dora’s original audience is now composed of tweens, and they represent an even more crucial market for brands. Not only are they much more digitally savvy and media saturated than any generation that came before, this group is also much more likely to be multicultural. They were also raised with stories and trends that were more likely to draw from diversity: like Dora, of course. The Dora phenomenon, like this Census itself, signals an important threshold for the growing Latino influence in the mainstream. What The Dora Generation Can Teach Business • Kids marketing and multicultural marketing have become one, as most kids come from a multicultural background, especially Latino. Brands should tap into the unique experiences of these kids growing up in two worlds as fodder for product innovation; a new Dora might be next in line. • Rethink your marketing strategies when speaking to moms. Ask yourself whether your brand is incorporating Latina cultural insights into your product development given that Latinas are the main growth pillar in the mommy segment. • Dora is a smart girl and she knows there’s money to be made by knowing other languages, especially in this tougher inter-connected global economy. This presents some product opportunities in the creation of bilingual educational toys for the kids, as well as language and cultural products for adults. • Think of ways of incorporating Latin culture into the mainstream to engage both your Latino customers as well as mainstream audiences. • For the media industry, Dora’s success is a wake-up call to create more properties that are culturally rich and diverse, especially to reach U.S. born young Latinos — many of them original Dora Generation kids — looking to both connect with their culture and share it with their peers. • Go green. Generation Dora has been raised to respect the environment and its inhabitants. Brands should expect to continue this engagement by coming up with cool and inspiring ways to tap into respect and curiosity for our planet. The growing Dora tweens will also challenge companies in the next generation of green marketing. • Dora and her friends like to visit Latin America and the world. While the Census points a strong multicultural picture in the U.S., the global kids market is even stronger and growing faster. Companies should rethink how they approach international markets, and how these markets can also serve as product innovation fodder for what we promote back at home. But perhaps most important, a focus on los amigos: While the Census numbers fueled by the Dora Generation present a market that is growing, the Latino community and its children still face strong social obstacles including poverty and lack of access to education. As companies and brands engage Latino families, they must find ways of giving back and promote the full development of Latino kids. They represent the future of the Latino community and our nation. It is only by investing in Latino kids that the true power of Generation Dora will be felt and we can all enthusiastically say “Vámonos.”

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Al Norman: Yes, Wal-Mart Is Too Big to Sue

March 30, 2011

You have your answer now, in case there was any doubt. When the U.S. Supreme Court votes in late June to decertify the class of low-income women who are suing Wal-Mart for sex discrimination, here is what the public will conclude from the media headlines: Wal-Mart has been found not guilty of unfair treatment of its women workers — when in fact the case was on the issue of “standing” of a class of plaintiffs, not really the merits of the evidence. The case dragged these low-income women through the courts for ten years, and in the end the Big Corporation beat them. Wal-Mart can now continue to pay women lower wages with impunity, because the “Janie Q’s” — as Wal-Mart calls its female employees — are going to get nowhere pursing their cases individually. These women will become legal untouchables once this class action is shattered. Wal-Mart politically is too big to sue, and all the other corporate giants that filed amicus briefs in support of Wal-Mart are also too big to sue. After the first day of oral arguments, the media concluded that Wal-Mart had won. NPR, for example , said the Justices had created a “wall of doubt” about the plaintiffs’ claims of discrimination, and that the Dukes plaintiffs had been “bombarded” with tough questions by the justices. According to one Forbes op-ed piece, the plaintiffs’ lawyer was “roasted.” In a press release last month, the plaintiffs argued that Wal-Mart had “a corporate culture that is rife with gender stereotypes,” with “highly subjective policies enforced on a daily basis by its Home Office to ensure consistency in results.” This tension between subjectivity and consistency seemed to trouble the Supreme Court. “Well, which is it?” Judge Antonin Scalia asked the plaintiffs. Either individual managers are on their own, “or else a strong corporate culture tells them what to do.” The United Food & Commercial Workers have urged Scalia to step down, since his son works for a prominent Wal-Mart law firm that deals with employment issues. Justice Samuel Alito seemed to suggest that Wal-Mart’s employment profile was “absolutely typical of the entire American workforce,” so if Wal-Mart was in violation of gender discrimination laws, then so was the entire retail industry. Even if that were true, does that mean that the workers at Wal-Mart have lost their right to litigate for gender equity? If every employer is wrong, does that make discrimination in this case right? Analysts in the media are suggesting that this large class of women does not have enough legal glue to be bound together as a class. They are suggesting that even though the lower courts found enough “commonality” in these women’s situations to certify them as a class, that the Supreme Court will not, and Wal-Mart will be able to walk away from their “associates” claiming that it was local renegade managers who wronged them, not the company. Wal-Mart wants the public to believe that managers ‘do their own thing’ and that this multi-billion corporation is run like a large unruly family where Father Knows Nothing. We used to call such a portrayal corporate deniability. Some observers will no doubt want to wait a couple of months to see how the Bush-dominated court rules in this case. But based on what I’ve seen from the justices already, the writing is on the Wal. This is perhaps the strongest argument why Wal-Mart needs to have a union. With collective bargaining in place, these 1.5 million ‘associates’ would have been able to tell their local managers that the sexual pay and promotion discrimination had to end. It’s the only way to balance out the enormous power managers clearly have over the workers who were forced to sue them to get their attention. Al Norman is the author of The Case Against Wal-Mart, and is the founder of Sprawl-Busters .

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Video: Winblad Says Amazon Has `First Mover’ Advantage in Cloud

March 30, 2011

March 29 (Bloomberg) — Ann Winblad, managing director for Hummer Winblad Venture Partners, discusses Amazon.com Inc.’s new music-streaming service, cloud computing and the digital music industry. Amazon’s Cloud Player lets users buy tracks, store them on the company’s servers and play them on computers and Android smartphones. Winblad speaks with Emily Chang and Cory Johnson from the Web 2.0 Expo on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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Dan Solin: Investing USA Style

March 30, 2011

Ninety percent of individual investors “invest” this way: Using the Internet, discount brokers or retail brokers, you try to guess the direction of the markets. You follow the financial news. You pick stocks or mutual funds you are told will outperform. You are filled with anxiety, confused, distressed and frustrated. The returns published by top performing mutual funds far exceed your returns. You wonder who is getting those returns. How did those investors know a particular fund was going to do so well? The predictions of the talking heads on the financial media are mesmerizing. They sound so knowledgeable and intelligent. But if they really have predictive powers, how did they miss the market crash in 2008 and the rapid recovery which continues to date? If you take the time to review the data, you are troubled to learn their track record is no better than the toss of the coin. Is this an intelligent way to plan for retirement? You don’t trust the securities industry. You can’t forget it was these “investment gurus” who brought us to the brink of a worldwide depression. If they can’t manage their own money, what qualifies them to manage yours? You read about the insider trading scandals and it confirms your suspicion that the playing field is not level. What chance do you have if these guys are on the other side of your trade? It’s not just the crooks like Madoff who make you nervous. You have the niggling feeling the entire system is one giant Ponzi scheme, which is simply a pretense for the transfer of your money to those who manage it. If you have a 401(k) plan, and your employer matches, you still get little comfort. The number of investment options is bewildering. You have no idea how to put together a globally diversified portfolio in an asset allocation appropriate for you. No one at your company can help you. The web site provided by the record keeper for the fund is helpful, but you don’t get any advice tailored for you. You keep reading about conflicts of interest and excessive fees in these plans. You know something is wrong, but you have no idea how to fix it. You have lost confidence in the SEC. It is under funded and under staffed. Most of its employees are just doing their time to build up their resume so they can jump to lucrative jobs with the same industry they are “regulating.” You can’t forget the sound byte provided by Harry Markopolos in his congressional testimony into the failure of the SEC to detect the Madoff fraud, even though he laid it out for them in agonizing detail: “If you flew the entire SEC staff to Boston, and sat them in Fenway Park, they wouldn’t be able to find first base.” Can you depend on these lost souls to protect you from Wall Street? Welcome to what passes for investing in the USA. Following these simple steps would increase your returns significantly (based on historical data), eliminate your anxiety and put you in control of your finances: 1. Formulate an investing goal. Most investors don’t have one. If you don’t know how much you will need to accumulate in retirement assets so you (and your surviving spouse or partner) can maintain your quality of life and not die destitute and dependent on others, this would be a worthy goal. You can generate a very helpful report here . Full disclosure: I am affiliated with Index Funds Advisors, which created and administers this report. 2. Fire your “market beating” retail broker or advisor. They have no predictive powers. They can’t pick stocks or time the market. Most of them can’t even calculate the risk of your portfolio. Their primary goal is to generate fees or commissions, while purporting to have an expertise that doesn’t exist. 3. Determine your asset allocation . Invest in a globally diversified portfolio of low cost stock and bond index funds. 4. If you are not familiar with the research of Eugene Fama and Kenneth French, take the time to learn what the largest and most sophisticated investors in the world know about investing. You won’t find this information in the financial media or at the office of your retail broker. This is what investing should be about. It should be investor centric. At present, it’s broker centric. The securities industry is fighting hard to keep it that way. The views set forth in this blog are the opinions of the author alone and may not represent the views of any firm or entity with whom he is affiliated. The data, information, and content on this blog are for information, education, and non-commercial purposes only. Returns from index funds do not represent the performance of any investment advisory firm. The information on this blog does not involve the rendering of personalized investment advice and is limited to the dissemination of opinions on investing. No reader should construe these opinions as an offer of advisory services. Readers who require investment advice should retain the services of a competent investment professional. The information on this blog is not an offer to buy or sell, or a solicitation of any offer to buy or sell any securities or class of securities mentioned herein. Furthermore, the information on this blog should not be construed as an offer of advisory services. Please note that the author does not recommend specific securities nor is he responsible for comments made by persons posting on this blog.

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Does This Tax Drive Businesses From San Francisco?

March 30, 2011

Not only is the San Francisco Chronicle lacking the professional courtesy to link to TechCrunch for first reporting the tech industry’s fears about San Francisco taxing stock options– the paper is also missing the broader point in the escalating debate. This isn’t about Zynga and Twitter negotiating a special deal, nor is it about a two-year deferral of payroll tax. Sure, that could keep a few companies and thousands of jobs in the city. But what would really cripple the city’s future economic growth is if every other startup reading this news, grimaces at the idea of haggling with unsympathetic elected officials who don’t seem to want their jobs, and decide instead to follow Mark Zuckerberg’s lead and open their company in Palo Alto or another Bay Area city from day one.

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Video: Miller Says Polycom Winning Market Share From Cisco

March 30, 2011

March 29 (Bloomberg) — Andrew Miller, chief executive officer of Polycom Inc., talks about the company’s video conferencing solutions and competition with Cisco Systems Inc. Miller also discusses Polycom’s applications for tablet computers. He speaks with Emily Chang on Bloomberg Television’s “Bloomberg West.” (Source: Bloomberg)

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