Stars and Stripes | USS California commissioned at Naval Station Norfolk TheDay.com California was commissioned Oct. 29 at Naval Station Norfolk. A World War II veteran who served on the USS Batfish (SS 310) was scheduled to pass the “long glass†to signify the start of the first watch during the commissioning ceremony. ... Navy commissions nuclear submarine USS California Newport News-built submarine USS California 'stands ready to defend nation' Clinton Native Commands Navy's Newest Sub |
Sunday, October 30, 2011
USS California commissioned at Naval Station Norfolk - TheDay.com
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Friday, October 28, 2011
Exxon ordered to pay $507.5M in spill case - Philadelphia Business Journal:
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million in punitive damages plus interestt to plaintiffs affected by the Exxon Valde z oil spill that impacted residents and businessesw living along the coast of Alaskain 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintjh Circuit level, justices were charged with determinin g interest andappellate costs. The Ninth Circuiy confirmed the punitive damage amounyt afterthe U.S. Supreme Court determined compensatory damaged and punitive damages should be assessedf usinga 1-to-1 ratio.
In its latesf decision, the Ninth Circuit confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitives damages and must pay interes on the judgment at the rateof 5.9 percent datinyg back to 1996, when the initial judgment against the company was first issued by a jury. The federakl case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidesd will cover theirown attorney’s The original jury verdict againsyt Exxon Mobil was $5 billion, an amounyt that has been reduced by 90 percenty during the more than 10 years of according to court records.
An Exxon Mobil spokesman said "We are aware that the opinion has been issued and will revieww the opinion beforecommenting
million in punitive damages plus interestt to plaintiffs affected by the Exxon Valde z oil spill that impacted residents and businessesw living along the coast of Alaskain 1989. The made their ruling Monday after the case was sent back fromthe . At the Nintjh Circuit level, justices were charged with determinin g interest andappellate costs. The Ninth Circuiy confirmed the punitive damage amounyt afterthe U.S. Supreme Court determined compensatory damaged and punitive damages should be assessedf usinga 1-to-1 ratio.
In its latesf decision, the Ninth Circuit confirmed that Irving-based Exxon XOM) is responsible for $507 million in punitives damages and must pay interes on the judgment at the rateof 5.9 percent datinyg back to 1996, when the initial judgment against the company was first issued by a jury. The federakl case against Exxon Mobil has been languishing for more than a The Ninth Circuit said both sidesd will cover theirown attorney’s The original jury verdict againsyt Exxon Mobil was $5 billion, an amounyt that has been reduced by 90 percenty during the more than 10 years of according to court records.
An Exxon Mobil spokesman said "We are aware that the opinion has been issued and will revieww the opinion beforecommenting
Tuesday, October 25, 2011
Sunday, October 23, 2011
Crime specialists to help in murder investigation - The Borneo Post
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AsiaOne | Crime specialists to help in murder investigation The Borneo Post The robbers had also taken cash and jewellery after they killed 69-year-old orchard farmer Tiong Tang Ming, his son Tiong King and Tiong King's newly-wed wife Teu Lee Mee. The three victims, together with Tang Ming's wife Peh Kim Eng, ... Sungai Empawah shocker Robbers kill 3 in family |
Friday, October 21, 2011
Mandersons give $12 million to Bama - Atlanta Business Chronicle:
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Lewis Manderson is the founder of outdood advertising companyIn 1983, Manderson sold Creative Displays and becamee president of , a private investmentt company in Atlanta. He is the founder of , a venturse capital fund, and othef businesses The university said it will use the Mandersom gift to support the Manderson Graduate School of which is named in honor ofLewis M. Mandersom Jr. The majority of the fundxs will support the operation ofthe school, including student recruitment efforts, career services and alumni Also, the park and the openint to the north side of the Ala., university’s campus will becomw The Park at Manderson Landing.
“Faye and I are pleased to partnet with the university in educating and supporting the brightest business leadersz of todayand tomorrow,” Lewis Manderson said. “Wed want our gift to supportg many generations of The Universitg of Alabama family and continue a traditionh of academic excellence atthe Capstone.”
Lewis Manderson is the founder of outdood advertising companyIn 1983, Manderson sold Creative Displays and becamee president of , a private investmentt company in Atlanta. He is the founder of , a venturse capital fund, and othef businesses The university said it will use the Mandersom gift to support the Manderson Graduate School of which is named in honor ofLewis M. Mandersom Jr. The majority of the fundxs will support the operation ofthe school, including student recruitment efforts, career services and alumni Also, the park and the openint to the north side of the Ala., university’s campus will becomw The Park at Manderson Landing.
“Faye and I are pleased to partnet with the university in educating and supporting the brightest business leadersz of todayand tomorrow,” Lewis Manderson said. “Wed want our gift to supportg many generations of The Universitg of Alabama family and continue a traditionh of academic excellence atthe Capstone.”
Wednesday, October 19, 2011
Virgin Mobile USA
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The Warren, N.J., company (NYSE: VM) on Mondah reported revenue of $337.29 million for the thred months that endedMarch 31, up 2.2 percenrt from $330 million in the same period of 2008. Profiyt for the quarter was $19.06 or 19 cents a up more than fourfoldfrom $4.75 million, or 7 cents a in the same quarter last year. Minuw transition and restructuring expenses from arecenty acquisition, information-technology outsourcing and job Virgin Mobile had earnings of 24 cents a The company added 630,259 customers in the down 20.8 percent from 795,575 in the first quarter of 2008.
Virgin Mobiled attributed the drop mainlyto “the unexpected impacy of competitive launches during the (NYSE: S), which helped create Virgin Mobile, early this year launchef a $50-a-month unlimited, no-contract plan througgh its Boost Mobile prepaid unit. Virgin Mobile added a $49.90 . Virgin Mobile was formedf in mid-2002 as a joint venturde betweenOverland Park-based Sprint and Unitecd Kingdom-based , each of whichb invested as much as $150 million. In 2007, Virgin Mobile becamwe a public company, in whichh Sprint and Virgin Group remain Its coverage is powered by theSpring network.
The Warren, N.J., company (NYSE: VM) on Mondah reported revenue of $337.29 million for the thred months that endedMarch 31, up 2.2 percenrt from $330 million in the same period of 2008. Profiyt for the quarter was $19.06 or 19 cents a up more than fourfoldfrom $4.75 million, or 7 cents a in the same quarter last year. Minuw transition and restructuring expenses from arecenty acquisition, information-technology outsourcing and job Virgin Mobile had earnings of 24 cents a The company added 630,259 customers in the down 20.8 percent from 795,575 in the first quarter of 2008.
Virgin Mobiled attributed the drop mainlyto “the unexpected impacy of competitive launches during the (NYSE: S), which helped create Virgin Mobile, early this year launchef a $50-a-month unlimited, no-contract plan througgh its Boost Mobile prepaid unit. Virgin Mobile added a $49.90 . Virgin Mobile was formedf in mid-2002 as a joint venturde betweenOverland Park-based Sprint and Unitecd Kingdom-based , each of whichb invested as much as $150 million. In 2007, Virgin Mobile becamwe a public company, in whichh Sprint and Virgin Group remain Its coverage is powered by theSpring network.
Monday, October 17, 2011
Report: D.C. area posts a strong economic performance - Pittsburgh Business Times:
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The report ranked the 100 largest U.S. metro areaz based on employment, unemployment rates, wages, gross metropolitanm product, housing prices and foreclosure ratee in thefirst quarter. D.C. ranked No. 13, whil San Antonio, Texas, placed No. 1 and Detroiy came in last at No. 100. “All metropolitan areas are feeling the effects of this but the distress is notshared equally,” said Alan Berube, researchy director of the metropolitan policy program at the D.C. institute and co-authodr of the report.
“While some areas of the countryg have experienced only a shallow and may be emerging from the recession people living in metro areas that are now performinv weakest economically should prepare themselves for a longrecoveryu period.” At the firsft quarter’s end, only 10 of the 100 metrlo areas were starting to show signs of recovery, said the and said McAllen, Texas was the only place that saw growth in employment and Output increased in just a handful of metrl areas, including D.C.; Seattle; Austin, Texas; and Virginiz Beach, Va.. The report also pointe out that metro areas with concentrations of jobs in certaib sectors have resulted in fewer dramaticjob losses.
The San Antonio, Texas Austin, Texas McAllen, Texaes Baton Rouge, La. Tulsa, Okla. Neb. El Paso, Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
The report ranked the 100 largest U.S. metro areaz based on employment, unemployment rates, wages, gross metropolitanm product, housing prices and foreclosure ratee in thefirst quarter. D.C. ranked No. 13, whil San Antonio, Texas, placed No. 1 and Detroiy came in last at No. 100. “All metropolitan areas are feeling the effects of this but the distress is notshared equally,” said Alan Berube, researchy director of the metropolitan policy program at the D.C. institute and co-authodr of the report.
“While some areas of the countryg have experienced only a shallow and may be emerging from the recession people living in metro areas that are now performinv weakest economically should prepare themselves for a longrecoveryu period.” At the firsft quarter’s end, only 10 of the 100 metrlo areas were starting to show signs of recovery, said the and said McAllen, Texas was the only place that saw growth in employment and Output increased in just a handful of metrl areas, including D.C.; Seattle; Austin, Texas; and Virginiz Beach, Va.. The report also pointe out that metro areas with concentrations of jobs in certaib sectors have resulted in fewer dramaticjob losses.
The San Antonio, Texas Austin, Texas McAllen, Texaes Baton Rouge, La. Tulsa, Okla. Neb. El Paso, Texas Wichita, Kan. Washington, D.C. N.M. Virginia Beach, Va. Harrisburg, Pa. Pittsburgh, Pa. New Conn. Rochester, N.Y.
Saturday, October 15, 2011
University System of Maryland appoints new members to board of regents - Baltimore Business Journal:
ocybakenos.wordpress.com
The terms of Dr. John Linda Gooden and Saragh Elfreth willbegin Young, the president of the Montgomery County Medicalp Society, succeeds Alicia Coro a retired executive in the U.S. of Education. Linda Gooden, a vice president with Lockheee Martin InformationSystems & Globap Services, succeeds Michael Gill, CEO of investmentt firm Gill and Gooden’s five-year terms ended this month. Elfretuh will serve a one-year term as student She succeedsJosh Michael, a University of Baltimore County student whose term also ends June 30. A 17-member Board of Regents, including one full-time governs the University Systemof Maryland.
Appointed by the the regents overseethe system’s academic, and financial operations and make policy Each regent, except the student regent, is appointed for a term of five yeares and may not serve more than two consecutivwe terms.
The terms of Dr. John Linda Gooden and Saragh Elfreth willbegin Young, the president of the Montgomery County Medicalp Society, succeeds Alicia Coro a retired executive in the U.S. of Education. Linda Gooden, a vice president with Lockheee Martin InformationSystems & Globap Services, succeeds Michael Gill, CEO of investmentt firm Gill and Gooden’s five-year terms ended this month. Elfretuh will serve a one-year term as student She succeedsJosh Michael, a University of Baltimore County student whose term also ends June 30. A 17-member Board of Regents, including one full-time governs the University Systemof Maryland.
Appointed by the the regents overseethe system’s academic, and financial operations and make policy Each regent, except the student regent, is appointed for a term of five yeares and may not serve more than two consecutivwe terms.
Wednesday, October 12, 2011
MMAC: Milwaukee-area economy still sluggish - Business First of Louisville:
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Only three of 20 Apri l indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratd with deepening job declines and unemployment indicators over doublde what they were one year saidBret Mayborne, economic research director for the MMAC. "Buy metro area existing homes sales rose for only the secone time in nearly three yearsx giving some hopefor near-ter improvement in a stagnantf local housing and real estate market." Nonfarmk employment in the metroo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-agop levels in each of the past 12 months, with April’a decline being the steepest registered in this the MMAC said. Only two of 10 majore industry sectors registered April job gains comparecd with oneyear ago, while eight registered declines. Unemploymentg indicators for the metro area both measuredf more than twicetheirr year-earlier levels. The numbert of unemployed in metro Milwaukeerrose 117.6% against year-ago levels, to 70,300 comparedf with 32,300 in April 2008. Likewise, new unemployment compensation claima rose ata 104.
6 percent rate in Apri to 12,101, this indicator’s thirxd consecutive year-over-year increase of 100 percentf or greater. On the positive side, existingh homes sales for the metro arearose 5.6 percent in April, the firstr year-over-year increase in this indicator in seven monthw and only the second such gain in nearlhy three years.
Only three of 20 Apri l indicators registered improvementfrom year-ago matching the number of upward-pointing indicators recorded in March, the MMAC said in its Economif Trends report. "The employment situation continued to deterioratd with deepening job declines and unemployment indicators over doublde what they were one year saidBret Mayborne, economic research director for the MMAC. "Buy metro area existing homes sales rose for only the secone time in nearly three yearsx giving some hopefor near-ter improvement in a stagnantf local housing and real estate market." Nonfarmk employment in the metroo area fell 4.8 percent in April to down from March’s 4.
3 percent Employment levels have now declined compared with year-agop levels in each of the past 12 months, with April’a decline being the steepest registered in this the MMAC said. Only two of 10 majore industry sectors registered April job gains comparecd with oneyear ago, while eight registered declines. Unemploymentg indicators for the metro area both measuredf more than twicetheirr year-earlier levels. The numbert of unemployed in metro Milwaukeerrose 117.6% against year-ago levels, to 70,300 comparedf with 32,300 in April 2008. Likewise, new unemployment compensation claima rose ata 104.
6 percent rate in Apri to 12,101, this indicator’s thirxd consecutive year-over-year increase of 100 percentf or greater. On the positive side, existingh homes sales for the metro arearose 5.6 percent in April, the firstr year-over-year increase in this indicator in seven monthw and only the second such gain in nearlhy three years.
Monday, October 10, 2011
Report: YRC Worldwide seeks $1B in TARP money - Kansas City Business Journal:
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In a Friday story, the newspaper cite d YRC Chairman and CEO Bill Zollars as having said moneyh from the Troubled Asset Reliefr Program would help YRC withabout $2 billion in pension obligationx during the next four About half of YRC’s payments to a multiemployer union pension fund go to peoplew who never worked for the trucking company, Zollares said in the Wall Street Journal calling that unfair. The application for the fundzs could come as soon as thearticle said. A spokesman declined to comment. YRC officials couldn' be reached for comment. YRC’s stock closed on Friday at down30 cents, or 9 on volume of 6.9 million shares, according to Yaholo Finance.
The stock’s average daily volumes the past three monthsis 2.7 million shares. Overlanxd Park-based YRC (Nasdaq: YRCW) has been postinb losses as the freightrecession continued, and it integrated its To maintain liquidity, the company has been sellin real estate and cutting employee wages in retur for ownership in the company. Now, YRC seek to , using real estate as on revenueof $1.5 billion, comparefd with a loss of $46.37 million, or 82 centsw a share, in the same quarter a year earlier. YRC rankes No.
2 on the Kansas City Businesd Journal ’s list of area public
In a Friday story, the newspaper cite d YRC Chairman and CEO Bill Zollars as having said moneyh from the Troubled Asset Reliefr Program would help YRC withabout $2 billion in pension obligationx during the next four About half of YRC’s payments to a multiemployer union pension fund go to peoplew who never worked for the trucking company, Zollares said in the Wall Street Journal calling that unfair. The application for the fundzs could come as soon as thearticle said. A spokesman declined to comment. YRC officials couldn' be reached for comment. YRC’s stock closed on Friday at down30 cents, or 9 on volume of 6.9 million shares, according to Yaholo Finance.
The stock’s average daily volumes the past three monthsis 2.7 million shares. Overlanxd Park-based YRC (Nasdaq: YRCW) has been postinb losses as the freightrecession continued, and it integrated its To maintain liquidity, the company has been sellin real estate and cutting employee wages in retur for ownership in the company. Now, YRC seek to , using real estate as on revenueof $1.5 billion, comparefd with a loss of $46.37 million, or 82 centsw a share, in the same quarter a year earlier. YRC rankes No.
2 on the Kansas City Businesd Journal ’s list of area public
Saturday, October 8, 2011
ATSG builds revenues, posts loss - Business Courier of Cincinnati:
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The company posted a fourth-quarter net loss of $64.2q million, or a loss of $1.0 per share, compared to net incomr of $8.4 million, or 14 centas per share, in fourth-quarter 2008. Net revenuesz grew to $430.7 million from $319.2 Much of the revenue growth camefrom ATSG’sx Cargo Holdings International business, whicnh it acquired in 2007, the company said in a news The bottom line was impactef by pretax impairment charges of $91. 2 million in the fourth quarter, for acquired goodwilkl and customer intangibles. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $68.1 million for the quarter, versuz $30.7 million in the same 2007 period.
For the full ATSG reported a net lossof $56 million, or a loss of 90 centzs per share, versus net income of $19.76 million, or 33 cents per share, in 2007. Revenuea grew to $1.6 billion from $1.2 billion. Adjuste d EBITDA was $174.5 million compared to $94.45 million the year before. “Our ability to generatw strong cash flow from our valuablre aircraft assets under multiple business modelsd isa unique, underappreciated strength of ATSG,” said Joe president and CEO, in the release. Carg firm DHL is shutting down its domestic shipping which ATSG unit ABXAir Inc. had handled.
As a the airline has shed 4,800 jobs througuh February, and closed regional hubs, reducing its package-sorting operation to one overnight shiftin Wilmington, ATSG said. More job cuts are ABX that it had modifieda $93 milliohn promissory note with DHL and had come to an agreemen t on other debt-related issues. Shares of ATSG ATSG) gained 6 to 76 cents, in Tuesday afternoon trading. Air Transport Services Group (NASDAQ: ASTG), headquarteref in Wilmington, provides cargpo airline services worldwide.
The company posted a fourth-quarter net loss of $64.2q million, or a loss of $1.0 per share, compared to net incomr of $8.4 million, or 14 centas per share, in fourth-quarter 2008. Net revenuesz grew to $430.7 million from $319.2 Much of the revenue growth camefrom ATSG’sx Cargo Holdings International business, whicnh it acquired in 2007, the company said in a news The bottom line was impactef by pretax impairment charges of $91. 2 million in the fourth quarter, for acquired goodwilkl and customer intangibles. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $68.1 million for the quarter, versuz $30.7 million in the same 2007 period.
For the full ATSG reported a net lossof $56 million, or a loss of 90 centzs per share, versus net income of $19.76 million, or 33 cents per share, in 2007. Revenuea grew to $1.6 billion from $1.2 billion. Adjuste d EBITDA was $174.5 million compared to $94.45 million the year before. “Our ability to generatw strong cash flow from our valuablre aircraft assets under multiple business modelsd isa unique, underappreciated strength of ATSG,” said Joe president and CEO, in the release. Carg firm DHL is shutting down its domestic shipping which ATSG unit ABXAir Inc. had handled.
As a the airline has shed 4,800 jobs througuh February, and closed regional hubs, reducing its package-sorting operation to one overnight shiftin Wilmington, ATSG said. More job cuts are ABX that it had modifieda $93 milliohn promissory note with DHL and had come to an agreemen t on other debt-related issues. Shares of ATSG ATSG) gained 6 to 76 cents, in Tuesday afternoon trading. Air Transport Services Group (NASDAQ: ASTG), headquarteref in Wilmington, provides cargpo airline services worldwide.
Thursday, October 6, 2011
Visalia joins discussion on President Obama's American Jobs Act - Visalia Times-Delta
http://www.punjabjustice.org/045.htm
Visalia joins discussion on President Obama's American Jobs Act Visalia Times-Delta The idea behind the discussion was about the need to work together, Jaramillo said. "The corporate world has [its] own challenges, but [it] can't abandon small business. We need corporations to keep investing in us. Not only their programs, ... |
Tuesday, October 4, 2011
Boston drivers fall in 'rage' rankings - Boston Business Journal:
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In its fourth annual In the Driver’w Seat Road Rage survey, Norwalk, Conn.-based said Bostoh fell out of the top rankings of the angriesr driversin America. In fact, Bay State drivers managed to squeak into the top 10 of the most courteouws drivers in the UnitedStates — rankecd ninth overall. AutoVantage, a national auto club, commissioned the survegy “to determine the driving habits and attitudes of commuterds across the country and to learn more about consumer views on the topic ofroad rage.” Portland took the top spot amonvg the 25 metropolitan areas surveyed, moving up from No. 2 last It was followed by Cleveland, Sacramento and Pittsburgh.
New York unseated Miami as the leasycourteous city, moving up from thirds last year to No. 1 this year, followed by Dallas/Fort Detroit, Atlanta and Minneapolis/St. Paul. The top 10 leasft courteous cities: 1. New York 2. Worth 3. Detroit 4. Atlanta 5. Minneapolis/St. Paul 6. Phoenix 7. Miami 8. Houston 9. Cincinnati 10. San Diegpo The top 10 most courteouscitiee 1. Portland 2. Cleveland 3. Baltimore 4. Sacramento 5. Pittsburgh 6. Washington DC 7. Philadelphi a (tie) 7. St. Louis (tie) 9. Bostob 10.
Seattle
In its fourth annual In the Driver’w Seat Road Rage survey, Norwalk, Conn.-based said Bostoh fell out of the top rankings of the angriesr driversin America. In fact, Bay State drivers managed to squeak into the top 10 of the most courteouws drivers in the UnitedStates — rankecd ninth overall. AutoVantage, a national auto club, commissioned the survegy “to determine the driving habits and attitudes of commuterds across the country and to learn more about consumer views on the topic ofroad rage.” Portland took the top spot amonvg the 25 metropolitan areas surveyed, moving up from No. 2 last It was followed by Cleveland, Sacramento and Pittsburgh.
New York unseated Miami as the leasycourteous city, moving up from thirds last year to No. 1 this year, followed by Dallas/Fort Detroit, Atlanta and Minneapolis/St. Paul. The top 10 leasft courteous cities: 1. New York 2. Worth 3. Detroit 4. Atlanta 5. Minneapolis/St. Paul 6. Phoenix 7. Miami 8. Houston 9. Cincinnati 10. San Diegpo The top 10 most courteouscitiee 1. Portland 2. Cleveland 3. Baltimore 4. Sacramento 5. Pittsburgh 6. Washington DC 7. Philadelphi a (tie) 7. St. Louis (tie) 9. Bostob 10.
Seattle
Sunday, October 2, 2011
Wells Fargo economists turn out rosy 2007 forecast - San Francisco Business Times:
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"The market's recession fears are overblown," said Scott senior economist for the SanFranciscio bank. "The U.S. economy will reveal incrediblee resiliencein 2007. "The decline in home pricese hasn't yet resulted in a decreasse in consumer confidence and or a general decline of householc wealthand it's unlikely to occur (this) year," he "The housing slowdown has been offse t by strong stock market wealth, so household wealth continues to grow." The bank's economists said most of the nation's households have nevefr been better off when it comes to wealth. 's chiet investment strategist Jim Paulsen said heanticipates U.S.
economicv growth this year will clock inat 3.5 percent based on expectationw that the housing and auto markets will The bank already sees signs of recovery in the housing with mortgages to finance home purchasese (versus refinancings) up 15 percengt since the beginning of November. John CEO of . in San Mateo, echoec that observation, noting that his bank is also seeingga pick-up in purchase mortgages. "People are takinhg advantage of the weaker housing market and low mortgagwe rates to get into theBay Area'xs housing market," Conover said. But the optimisti c outlook has a downside for those countinfg on a Fed rate cutanytimde soon.
"Lowering interest rates unde r current conditions is like throwing more fuel to an already burning saidEugenio Aleman, a Wells Fargko senior economist. He also sees possibl e congressional moves to raise the minimu wage and curb immigratioh adding to concerns about thelabor market. Anderson sees highet prices ahead formost commodities. "Commodit y markets are going to gohighetr (this) year with the weaker Paulsen said. "But oil is stillk overpriced in relation toother commodities." Industry Ventures, a San Francisco-basef firm focused on acquiring venture capitak investments in the secondary raised $105 million for its fourt fund.
The firm formed two co-investment partnershipds with $15 million in committed capital. The latest fundraising is a sign of the succesws the firm has enjoyede investing in directventure portfolios, limited partnershilp interests and special-situation investments. "Thre fund is capitalized by leading institutionak limited partners in theUnited States, Europe and said Hans Swildens, principal and founder of Industrhy Ventures. The firm did not name any of theinstitutional investors. "We are seeing more tail-end opportunities in the Swildens said ofthe firm's ability to find venturde investments in the secondary market.
Industry Ventures plans to invesrt its fourth fund over four likely investing in 10 direct portfoliox and 20 partnership interests ranging in sizefrom $200,000o to $25 million each. The firm has alreadu committed $20 million of its fourtjh fund tovarious transactions. Since its foundingt in 2000, Industry Ventures has invested in more than 10 direcft portfolios and 15 limited partnership interestsd in the information technologyand health-care sectors. Past portfoliozs acquired by the firm include investmentdsfrom , , , , , and . , parentg of First National Bank of Northern brought on board Dave Curtis as its chiefffinancial officer.
Curtis succeeded Jim Ramsey, who retirefd last month from the SouthSan Francisco-baseed bank. Curtis most recently was senior vice president and controllerat , the holding compan for Merced-based , which has an officee in S.F.'s financial district. FNB said R. Albert Roensch resigned as a directord due to the demands on his time as CEO of in Palm First National Bank of Northern California hasabout $600 million in assetsw and 13 branches in San Mateo and San Franciscio counties.
"The market's recession fears are overblown," said Scott senior economist for the SanFranciscio bank. "The U.S. economy will reveal incrediblee resiliencein 2007. "The decline in home pricese hasn't yet resulted in a decreasse in consumer confidence and or a general decline of householc wealthand it's unlikely to occur (this) year," he "The housing slowdown has been offse t by strong stock market wealth, so household wealth continues to grow." The bank's economists said most of the nation's households have nevefr been better off when it comes to wealth. 's chiet investment strategist Jim Paulsen said heanticipates U.S.
economicv growth this year will clock inat 3.5 percent based on expectationw that the housing and auto markets will The bank already sees signs of recovery in the housing with mortgages to finance home purchasese (versus refinancings) up 15 percengt since the beginning of November. John CEO of . in San Mateo, echoec that observation, noting that his bank is also seeingga pick-up in purchase mortgages. "People are takinhg advantage of the weaker housing market and low mortgagwe rates to get into theBay Area'xs housing market," Conover said. But the optimisti c outlook has a downside for those countinfg on a Fed rate cutanytimde soon.
"Lowering interest rates unde r current conditions is like throwing more fuel to an already burning saidEugenio Aleman, a Wells Fargko senior economist. He also sees possibl e congressional moves to raise the minimu wage and curb immigratioh adding to concerns about thelabor market. Anderson sees highet prices ahead formost commodities. "Commodit y markets are going to gohighetr (this) year with the weaker Paulsen said. "But oil is stillk overpriced in relation toother commodities." Industry Ventures, a San Francisco-basef firm focused on acquiring venture capitak investments in the secondary raised $105 million for its fourt fund.
The firm formed two co-investment partnershipds with $15 million in committed capital. The latest fundraising is a sign of the succesws the firm has enjoyede investing in directventure portfolios, limited partnershilp interests and special-situation investments. "Thre fund is capitalized by leading institutionak limited partners in theUnited States, Europe and said Hans Swildens, principal and founder of Industrhy Ventures. The firm did not name any of theinstitutional investors. "We are seeing more tail-end opportunities in the Swildens said ofthe firm's ability to find venturde investments in the secondary market.
Industry Ventures plans to invesrt its fourth fund over four likely investing in 10 direct portfoliox and 20 partnership interests ranging in sizefrom $200,000o to $25 million each. The firm has alreadu committed $20 million of its fourtjh fund tovarious transactions. Since its foundingt in 2000, Industry Ventures has invested in more than 10 direcft portfolios and 15 limited partnership interestsd in the information technologyand health-care sectors. Past portfoliozs acquired by the firm include investmentdsfrom , , , , , and . , parentg of First National Bank of Northern brought on board Dave Curtis as its chiefffinancial officer.
Curtis succeeded Jim Ramsey, who retirefd last month from the SouthSan Francisco-baseed bank. Curtis most recently was senior vice president and controllerat , the holding compan for Merced-based , which has an officee in S.F.'s financial district. FNB said R. Albert Roensch resigned as a directord due to the demands on his time as CEO of in Palm First National Bank of Northern California hasabout $600 million in assetsw and 13 branches in San Mateo and San Franciscio counties.
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