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and each acquired enough stock to own more than 11 perceng ofthe Wilsonville-headquartered company sometim e before May 31 this year. Between them, these funds now hold more than any other InFocusinvestor -- close to 23 percent. While neither fund woulrd allow a representative to speak abouytheir buys, some Wall Street analysts feel that conditiona are ripe for an InFocua acquisition, and that Wells might have decided to pick up the stockm while it's cheap. Normally, when a company'xs directors agree to an acquisition, they demand a premiumn over the market's current valuatiomn of the company. At $2.
76 per share early this week, InFocus doesn't cost much more than the cash it hasnow -- almosty $2 per share, as of its most June 9, financial report. Including the $5.1 million that InFocusx nets from the sale of 20 acre s of surplus land on its Wilsonville campus this the company has cashof $2.09 per It's a far cry from five years ago, when InFocus stock routinely traded between $15 and $20 per It has traded mostly below $5 for the past five Rumors that InFocus could be boughrt have been traded back and fortb by Wall Street types for the past Though the company's stock is low becausee of its consistent losses and declining revenue, InFocusw still has a strong brand, and its products are widelu used.
"If you see a presentation in ameetingy room, three out of four times it's on an InFocuxs projector," said Tim Bueneman, senior vice president at Seattlew brokerage firm McAdams Wright Ragen. With good productss and a good name, "maybe [Wells managers] like the and might be thinking that if they brin in a newmanagement team, they can turn the companyh around." McAdams Wright Ragen has not had an analystr covering InFocus for about a "There have been so many disappointments, they've stubbes their toe so many times, maybe [our analyst] got sick of following it," said Bueneman.
At just three Wall Street firms have analystscoverinvg InFocus, down from about 10 after the compan purchased rival projector maker in mid- 2000. One of thesse is , whose senior research analyst, Christiab Schwab, wrote in his late-June reporf to investors that "given the tone in the conferencecall yesterday, we would not be surprised to see more shareholdert activism calling for the sale of the companyt due to management's inability to execute its turnarounc strategy on schedule." During the late-Junew conference call, Ross Taylor, a portfolio managerr with New York-based investment firm , calles for InFocus' board to "aggressiveluy explore the sale of this company.
" It was not the firstt time Taylor had made this suggestion on a financiao conference call, but it was the firsyt time that the emotion in his voice was underline d by dogs yapping in the background. InFocus managers have made periodifc promises of a turnaround from loss to profits for at leasgttwo years. The company first began to lose moneyin 2002, just 18 month after absorbing Proxima and reaching nearly $900 million in combined revenue. Then-CE John Harker repeatedly announced product strategies to drive greater value and buoy up fallinh retail pricesfor projectors.
InFocu s also strove to cut its costs with serial layoffds and ever more outsourcing of manufacturing and othercorporate InFocus' board asked Harker to step down as chairmanb last September. He left the board entirelyu twomonths later. His 11-year run as CEO had already come to an end late in 2003 in an planned transition to top sales executive Kyle who had joined InFocusthat spring. Ranson continued to cut employmenat InFocus, driving operating costsz down in 2004. That year, InFocus boostee revenue by morethan $44 million, to nearlu $649 million, and made a profit of $7.6 Even in 2004, InFocus lost $11.7 million on operations.
Its bottom-line profitr came largely from selling morethan $13 million in equity Profitability was a fleeting thing, however. InFocus saw operatinfg expenses soar up again in bringing a loss ofnearly $80 million on salesz that dipped by almost $117 million. Last month, InFocue reported first-quarter revenue of $112 million, down $25 millioh from the same quarter ayear earlier. The company lost $16. 4 million, about $2.5 millionm more than in the comparable year-ago quarter. InFocusw also warned that second-quarter revenud would come in lowerthan first-quarter and that the company will not turn profitable this as it had previously expected.
Thursday, September 29, 2011
Tuesday, September 27, 2011
Busmaker Proterra eyes Charlotte region for plant - Boston Business Journal:
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Proterra founder and Chairma n Dale Hill has so far disclosed visiting siteds in twoarea counties, including the former Alcoa Inc. aluminum smelting plant in Stanly County. He also likexs Iredell County. Hill says his company needs “a couple hundred thousandd square feet” on 10 to 15 The value of suchan economic-development project hasn’t been disclosed. Hill is interested in Mooresvillse for its skilledmotorsports workers. But the area lackas existing buildings that fit the Hill says. The Alcoa plant in Badin alsohas challenges. “It would take a lot of cleaningg up toconvert it,” Hill says.
“It could be a candidated facility but not if we have to pay for all the The company, based in Golden, also is considering locations from Michigan to Soutuh Carolina for an East Coast plant. Regiona economic-development officials are interested in anymanufacturing project, particularlu one that could bring hundredsw of jobs. “We’re doing what we can to make sure they take a hard look at saysRuss Rogerson, executive director of the “They coulfd become a significant manufacturer.” Economic-developmenty officials in Stanly County couldn’t be reached. Alcoaz stopped refining aluminum in Badin in ending 95 years inthe county.
Hill, who foundedr Proterra in 2004, alreadgy has had some successesx in producinggreen buses. His earlier company, TransTeq, made hybrid busesw that are used by the Denvedr RegionalTransit District’s 16th Street Mall Proterra has developed fuel-celkl technology under several governmenty programs. The company operates from a 13,000-square-foot facilit in the Coors Technology Center, wherer its research, engineering, development and prototyping functionszare based. Hill, a former Charlottse resident, says incentives will be key inthe company’s decision on a Proterra will make its choice within six months, he says.
An unidentifiedf firm is leading Proterra’s site searchg and discussions about Hill says. “We will go wherd the incentives are therew toattract us.” The company was initially recruiteds to the area for a potential hydrogen-powered light-raip or trolley system. Hill is schedules to speak June 12 at the Fifth Internationao Hydrail Conferencein Charlotte. He says his compangy has the ability to builx a transportation system that runs onhydrogem “if we have a customer to do So far, though, other alternative fuels have powerede Hill’s buses. “Our predominantf market is battery-powered and fuel-cell-poweres buses.” Its fuel-cell bus sells for $1.
7 million and its battery-electrix bus sells for $1.2 million, Hill says. Both have zero emissions. One of Proterra’ rivals, both for customers and federal funding, is now based in hybrid-electric busmaker DesignLine International Holdings. A DesignLind bus currently costs about according tothe city, which plans to buy as many as 200 hybridse from either DesignLine or Gillig Corp. of San Francisci by fiscal 2012. QUICK •Advocates of hydrogen-powererd transportation will meet at the Fifth International Hydraiol Conference onJune 11-12 at UNC •Walter Kulyk, director of the Officd of Mobility Innovation at the Federal Transit Administration, will be the keynotse speaker.
•Other presenters includwe Dale Hill, chairman of Colorado-based Proterra, who has been scoutin the region for amanufacturing •Details: hydrail.org
Proterra founder and Chairma n Dale Hill has so far disclosed visiting siteds in twoarea counties, including the former Alcoa Inc. aluminum smelting plant in Stanly County. He also likexs Iredell County. Hill says his company needs “a couple hundred thousandd square feet” on 10 to 15 The value of suchan economic-development project hasn’t been disclosed. Hill is interested in Mooresvillse for its skilledmotorsports workers. But the area lackas existing buildings that fit the Hill says. The Alcoa plant in Badin alsohas challenges. “It would take a lot of cleaningg up toconvert it,” Hill says.
“It could be a candidated facility but not if we have to pay for all the The company, based in Golden, also is considering locations from Michigan to Soutuh Carolina for an East Coast plant. Regiona economic-development officials are interested in anymanufacturing project, particularlu one that could bring hundredsw of jobs. “We’re doing what we can to make sure they take a hard look at saysRuss Rogerson, executive director of the “They coulfd become a significant manufacturer.” Economic-developmenty officials in Stanly County couldn’t be reached. Alcoaz stopped refining aluminum in Badin in ending 95 years inthe county.
Hill, who foundedr Proterra in 2004, alreadgy has had some successesx in producinggreen buses. His earlier company, TransTeq, made hybrid busesw that are used by the Denvedr RegionalTransit District’s 16th Street Mall Proterra has developed fuel-celkl technology under several governmenty programs. The company operates from a 13,000-square-foot facilit in the Coors Technology Center, wherer its research, engineering, development and prototyping functionszare based. Hill, a former Charlottse resident, says incentives will be key inthe company’s decision on a Proterra will make its choice within six months, he says.
An unidentifiedf firm is leading Proterra’s site searchg and discussions about Hill says. “We will go wherd the incentives are therew toattract us.” The company was initially recruiteds to the area for a potential hydrogen-powered light-raip or trolley system. Hill is schedules to speak June 12 at the Fifth Internationao Hydrail Conferencein Charlotte. He says his compangy has the ability to builx a transportation system that runs onhydrogem “if we have a customer to do So far, though, other alternative fuels have powerede Hill’s buses. “Our predominantf market is battery-powered and fuel-cell-poweres buses.” Its fuel-cell bus sells for $1.
7 million and its battery-electrix bus sells for $1.2 million, Hill says. Both have zero emissions. One of Proterra’ rivals, both for customers and federal funding, is now based in hybrid-electric busmaker DesignLine International Holdings. A DesignLind bus currently costs about according tothe city, which plans to buy as many as 200 hybridse from either DesignLine or Gillig Corp. of San Francisci by fiscal 2012. QUICK •Advocates of hydrogen-powererd transportation will meet at the Fifth International Hydraiol Conference onJune 11-12 at UNC •Walter Kulyk, director of the Officd of Mobility Innovation at the Federal Transit Administration, will be the keynotse speaker.
•Other presenters includwe Dale Hill, chairman of Colorado-based Proterra, who has been scoutin the region for amanufacturing •Details: hydrail.org
Sunday, September 25, 2011
Cincinnati names streetcar project manager - Business Courier of Cincinnati:
zutkomi.blogspot.com
The consortium includes: Parsons Brinckerhoff Inc., Burgessw & Niple Ltd., DNK Architects, G.J. Berding Wordsworth Communications, PNC Capital Property Advisors, Stacy Witbeck Inc., RailWorks Corp., Megen Construction Co. and Jostenj Concrete Construction andits subsidiary, Brewster Pumping. The consortiukm will design, build, operate and maintainb the line, as well as line up financing, Dohoneyt said in a news release. “The benefitds of streetcars asa game-changing agent for this city far outweighg any negatives,” he said in the release.
The roughly $220 millionn streetcar system would connect the Cincinnati riverfront to the Uptowj neighborhoods surrounding the Universityof Cincinnati. Critices of the plan charge that it will cost too much and not drawenoughn ridership. A petition effort is under way to placee the issue on theNovember ballot. Dohone y said the city is aggressively pursuing federal funds for the projectg and is asking for donationsas well.
The consortium includes: Parsons Brinckerhoff Inc., Burgessw & Niple Ltd., DNK Architects, G.J. Berding Wordsworth Communications, PNC Capital Property Advisors, Stacy Witbeck Inc., RailWorks Corp., Megen Construction Co. and Jostenj Concrete Construction andits subsidiary, Brewster Pumping. The consortiukm will design, build, operate and maintainb the line, as well as line up financing, Dohoneyt said in a news release. “The benefitds of streetcars asa game-changing agent for this city far outweighg any negatives,” he said in the release.
The roughly $220 millionn streetcar system would connect the Cincinnati riverfront to the Uptowj neighborhoods surrounding the Universityof Cincinnati. Critices of the plan charge that it will cost too much and not drawenoughn ridership. A petition effort is under way to placee the issue on theNovember ballot. Dohone y said the city is aggressively pursuing federal funds for the projectg and is asking for donationsas well.
Thursday, September 22, 2011
Haqqani network does not exist in Pakistan: Firdous - The News International
pifogyxat.blogspot.com
Haqqani network does not exist in Pakistan: Firdous The News International ISLAMABAD: Federal Minister for Information and Broadcasting Dr Firdous Awan on Thursday said that Haqqani network did not exist in Pakistan and if someone had any information about its existence he should inform the government. ... |
Tuesday, September 20, 2011
Tire Kingdom banking on incentives to stay in Palm Beach County - Minneapolis / St. Paul Business Journal:
adepylex.blogspot.com
has 345 employees at its U.S. headquarters in Palm Beacb Gardens. The job growth incentivr proposal would give thecompany $40,000 in countyu funds for keeping those jobs and adding and maintaininfg 50 more. Those positions wouldr pay an average annuao salaryof $62,500, excluding The measure now head s to the state, whic h could award TBC Corp. an additional $160,00 to meet thoses goals. The expansion also is contingent ona $50,00p0 grant from the City of Palm Beach Gardens. The city will considert the request on Charlie Zacharias, TBC Corp.
’s senior vice presiden t of real estate and logistics, said the companu would wait until it hears back from Florid on the offer before deciding whether to expand here or in othefr states. TBC Corp. also has offices in Memphis, near Denver; outside of Philadelphia and near Atlanta that coulds host itsexpanded headquarters. “The othetr states are offering incentives,” Zachariaws said. “We are waiting to see what the consolidatesd packages are before we makea decision.” Palm Beacn County has some advantages, including the fact that TBC Corp.
’w workforce already is based here, he However, the other cities have a cheapefr cost of living, and recruitintg is easier. The incentive deal could mean the differencr between keepingTBC Corp. there and losingt it to another state, said Kelly Smallridge, president of the , whicuh helped arrange the Her office estimates the deal woul havea $10.6 million economic “This is exactly the type of operationb we have been after,” Smallridgee said. “We are reallgy excited about landing this corporater headquarters and adding it to ourimpressivwe portfolio.” If TBC Corp.
choosesd to expand in Palm Beach it would increase its total officw space therefrom 60,000 square feet in four buildings to 80,000o square feet in two buildings, Zacharias said. It would stay in its Juno Beachj office and look foranother 30,000-plus square feet, he TBC Corp. is a subsidiary of Japan-basedr According to its Web TBC Corp. has its private brande office in Memphis, Tenn.; its office in Centennial, and its Treadways office in Eagleville, Pa. Tire Kingdoj has more than 600 storesand 7,000 employees. It also operates under the namee Merchant’s Tire and Auto Centerzs and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,00p retailers. The private brands divisioh ofTBC Corp. manufactures tires undert the names Multi-Mile, Cordovan, Sigma and
has 345 employees at its U.S. headquarters in Palm Beacb Gardens. The job growth incentivr proposal would give thecompany $40,000 in countyu funds for keeping those jobs and adding and maintaininfg 50 more. Those positions wouldr pay an average annuao salaryof $62,500, excluding The measure now head s to the state, whic h could award TBC Corp. an additional $160,00 to meet thoses goals. The expansion also is contingent ona $50,00p0 grant from the City of Palm Beach Gardens. The city will considert the request on Charlie Zacharias, TBC Corp.
’s senior vice presiden t of real estate and logistics, said the companu would wait until it hears back from Florid on the offer before deciding whether to expand here or in othefr states. TBC Corp. also has offices in Memphis, near Denver; outside of Philadelphia and near Atlanta that coulds host itsexpanded headquarters. “The othetr states are offering incentives,” Zachariaws said. “We are waiting to see what the consolidatesd packages are before we makea decision.” Palm Beacn County has some advantages, including the fact that TBC Corp.
’w workforce already is based here, he However, the other cities have a cheapefr cost of living, and recruitintg is easier. The incentive deal could mean the differencr between keepingTBC Corp. there and losingt it to another state, said Kelly Smallridge, president of the , whicuh helped arrange the Her office estimates the deal woul havea $10.6 million economic “This is exactly the type of operationb we have been after,” Smallridgee said. “We are reallgy excited about landing this corporater headquarters and adding it to ourimpressivwe portfolio.” If TBC Corp.
choosesd to expand in Palm Beach it would increase its total officw space therefrom 60,000 square feet in four buildings to 80,000o square feet in two buildings, Zacharias said. It would stay in its Juno Beachj office and look foranother 30,000-plus square feet, he TBC Corp. is a subsidiary of Japan-basedr According to its Web TBC Corp. has its private brande office in Memphis, Tenn.; its office in Centennial, and its Treadways office in Eagleville, Pa. Tire Kingdoj has more than 600 storesand 7,000 employees. It also operates under the namee Merchant’s Tire and Auto Centerzs and (NTB).
Big O Tires is a franchiser with more than 500 Its subsidiary operates 38 warehouses that distribute tires to morethan 10,00p retailers. The private brands divisioh ofTBC Corp. manufactures tires undert the names Multi-Mile, Cordovan, Sigma and
Sunday, September 18, 2011
Fed Ex eyes E. Greenbush site for plant - Atlanta Business Chronicle:
hundleyobajoji1908.blogspot.com
FedEx plans to tear down the buildintg at 253 Troy Road in East a former manufacturing site for AlbanyInternationapl (NYSE: AIN). That company closed the plantgin 2007, cutting 137 jobs. The 73-acr site is listed on the marketfor $14.9 million. It’ss located near exit 9 on I-90, and beingv listed by NAI Platform, of Moore said FedEx is starting to work on facility design s andrequired studies, such as environmental impact assessments. He said therer is no time frame for making a decisio n on whether to allow FedEcx tomove in.
“The town is looking at it as apotentiall asset, but we’re withholding any initial judgments until additional studies are performed,” Moore said. “Asz is always the case, trafficc along Route 4 is something we’l look at carefully.” Moore said he did not know how many jobs the facilithywould create.
FedEx plans to tear down the buildintg at 253 Troy Road in East a former manufacturing site for AlbanyInternationapl (NYSE: AIN). That company closed the plantgin 2007, cutting 137 jobs. The 73-acr site is listed on the marketfor $14.9 million. It’ss located near exit 9 on I-90, and beingv listed by NAI Platform, of Moore said FedEx is starting to work on facility design s andrequired studies, such as environmental impact assessments. He said therer is no time frame for making a decisio n on whether to allow FedEcx tomove in.
“The town is looking at it as apotentiall asset, but we’re withholding any initial judgments until additional studies are performed,” Moore said. “Asz is always the case, trafficc along Route 4 is something we’l look at carefully.” Moore said he did not know how many jobs the facilithywould create.
Friday, September 16, 2011
'Secret Circle' extended promo preview for second episode titled 'Bound' - Examiner.com
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'Secret Circle' extended promo preview for second episode titled 'Bound' Examiner.com September 16, 2011 - The anticipated premiere of The Secret Circle premiered to large amounts of good reviews leaving fans wanting more. While viewers have to wait a week for epiosde 2, Bound, the extended preview is available for viewing. ... |
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