Obama picks venture capitalist to head SBA Advocacy Office - Puget Sound Business Journal (Seattle):

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Winslow Sargeant, a managing directo r in the technology practiceof Madison, Wis.-baserd Venture Investors, is Obama’s The Advocacy Office is an independent entity insidre the SBA that ensures federal agencies consider the impact of their regulationsa on small businesses. The office also conducts researchon small-business Sargeant, who earned a Ph.D. in electrica engineering at the University of Wisconsinat Madison, workefd as a senior engineer at several large corporationsa before co-founding Aanetcom, a fableszs semiconductor company that later was acquired by From 2001 to 2005, he served as progran manager for the Small Business Innovation Research program at the Nationalp Science Foundation’s engineering directorate.
He is the secon d venture capitalist to be selected for a top SBA Karen Mills worked as a principal at private equithy and venture capital firms for 26 years before she becamr the SBA administratorin Sargeant’s lack of legal training mean s he will have to rely heavily on the attorneysx at the Office of Advocacy. Much of the office’ws work involves analyzing whether government agencies follo federal laws that require them to analyze the potential economic impact of proposeds rules onsmall businesses. The officw also makes sure regulators hearsmall businesses’ opinionas about regulations.
In fiscal 2008, this inputy saved small businessesabout $11 billion in possiblse regulatory costs, according to the office. The office’as acting counsel, Shawne Carter joined the office in during the BillClinton administration. She previouslyh worked for a Democratic member of Congressw and has been an attorney for20 years. An unname Obama administration official characterized McGibbon to reporters asa “Bush holdover” during a controversg over an interagency review of the Environmental Protection Agency’s findinb that greenhouse gas emissions pose a publif health hazard.
The Office of Advocacy concludesd that regulating carbon dioxide undefr the Clean Air Act likely wouldhave “seriouse economic consequences” on small businesses and other regulated Several press accounts quoted anonymous administration officials who said the Advocacy Office’s criticism of the EPA findingy came from an office “still stocked with Bush in the words of the Los Angelews Times. This dismissal of the office’d opinion upset Rep. Darrell Issa of California, the rankintg Republican on the HouseOversight & Government Reforkm Committee.
“There are hundreds of civil servants serving in a similar capacity throughout the federal government who coulsd also be characterizedas ‘Bush holdovers,’” Issa wrote in a May 14 lettert to Obama. “I sincerely hope that their professional advic e and decisions will not be discountef merely because they also worked for the federal governmenyt under PresidentGeorge W. Bush.” For more: .
Microloans up, big loana down for small businesses this year Lending data collected bythe SBA’sw Office of Advocacy confirmx the importance of business credit cards to small A new report found that the totap value of small-business loans outstandingy increased by 4 percent in the 12 months that ended in June 2008, down from the previouas year’s increase of 8 percent. These numberzs are for all small-business not just SBA loans. The number of business loans of lessthan $100,000 jumped by nearly 16 percent as large lenders concentrated on credig cards, according to the study.
In contrast, the numberd of business loans inthe $100,000 to $1 million range fell by more than 23 The report used call reports submitteds by banks as well as Community Reinvestmenrt Act data. Business loans of less than $1 million were considered to be small-business Based on call report data, the top five small-business lenderx in June 2008 were American Capital One, Regions Financial Corp., Synovus Financial Corp. and First Citizen Bancshares Inc. The report also lists the mostactive small-businessx lenders in each state.
“Inj the current financial it’s especially critical for small firms to know which bank s and financial institutions have been the most likelyt to make small and microbusiness said economistVictoria Williams, a co-author of the For more: .

UMKC

ivyhofy.wordpress.com
The Bloch School’s Council for Entrepreneurship and Innovatiohn and the Institute for Entrepreneurship and Innovationmannounced Blank, co-founder of , as the recipieny in a release Thursday. Blank will be honoree as the 24th-annual Entrepreneur of the Year AwardsDinneer Oct. 8 at the . Blankj helped build The Home Depott (NYSE: HD) into the world’s largest home improvement retailerf andthe second-largest retailefr in the United States. He co-founded the company in 1978 and retireras co-chairman in 2001.
“By honorinv entrepreneurs and innovators like Arthur along with our regional andstudenr entrepreneurs, we marry the legacy and futured of entrepreneurship in Kansas City and around the Lee Bolman, interim dean at the Bloch School, said in the “The Institute for Entrepreneurship and Innovation at Blochj plays an integral role in developingg tomorrow’s entrepreneurs — people who will buildr new business, create jobs, and providde the growth and sustainability needed for a successful future.
”

Thunder Vs. Nuggets Score: Denver And Oklahoma City Tied At The Half - SB Nation

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USA Today

Thunder Vs. Nuggets Score: Denver And Oklahoma City Tied At The Half SB Nation Oklahoma City came roaring back in the second quarter but Denver answered late to head into the half tied at 45-45. Ty Lawson leads  »

TiVo wins $103M round in EchoStar fight - Denver Business Journal:

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EchoStar lost an appeal in distric t courtin Texas. The court awarded Alviso-base d TiVo (NASDAQ: TIVO) $103, 068,836 plus interest, which coverxs the period from Sept. 8, 2006 to Apriol 18, 2008. But EchoStar (NASDAQ: SATS), of Colo., will appeal the matter to the U.S Courty of Appeals for the Federal Circuit. Even if TiVo which observers think likely, the award won’t wipe away its largd accumulated deficit. In the fiscal years 2008 and 2007, before it won damages, TiVo lost $31.6 million and $49.1 million, respectively. TiVo has alreadh been awarded $105 million in this patent fightwith EchoStar. Though that earlier EchoStar paymen t contributed to a profitof $103.
6 million for TiVo in the quartere ended January, the company’s accumulated deficit (how much it has lost or writtem off since it started) at that time was $672.2 “We will need to generate significant additionalk revenues to achieve sustained profitability,” the companh said in its most recent quarterly filing. TiVo’s presidentg and CEO, Tom Rogers, 54, was paid a salar of $800,000 in the latest fiscal His total compensation for the yearwas $5.9 including $54,824 for housing, housing relatedc and living expenses, $42,796 in insurance related expenses, and $20,09 in family travel related according to TiVo’s proxy card.
Rogers also sits on the boaredat , a Texas telephone book publisher that filed Chaptef 11 in March. He’s been a directofr there sinceNovember 2006. Idearc, basecd at the Dallas-Fort Worth Airport, paid a cash retainerd of $60,000 to directors in 2007, the latest year it’s reporte d in a proxy statement. Former TiVo board memberr Charles Fruit, a marketing executive who saton TiVo’ss audit committee, died May 27. TiVo had 463 workerse as of March 23, more than half of them in researcu anddevelopment jobs.

Garmin Ltd. Company Profile | GRMN Company Information

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"We are pleased to offer Garmin Mobilrethrough Handmark's vast distribution channels becauswe it will make it easieer for BlackBerry customers to subscribe to Garmin Mobile, regardlese of the carrier," said Charled Morse, Garmin's director of mobilse and PND marketing. "Garmin Mobile is a killet application that turns Blackberry devices into a premiunm GPS device with voiceprompte navigation, real-time traffic, weather, fuel and hotel discounts. It turns a BlackBerry into an go-anywhere device.
" "Garmin Mobile is a brilliantr applicationfor GPS-enabled phones that significantlgy enhances the mobile experience," said Douglas Edwards, Handmarl executive vice president and chief marketing "It is natural for Handmarkl to work with Garmin, another Kansas City-basedf global company. Garmin Mobile will be a greatf hit withour customers." Handmarlk is the leading developer and publisher of mobil software titles sold through mass merchandisers as well as electronic s and office supply stores. Handmarmk offers unique distribution through U.S. mobile operators, including on-device client and web portalsa as well as both Handmark and operatorf branded desktopand on-device stores.
Garmibn Mobile will receive prominent placement within the variouswdistribution channels. ...

Exact to raise $8.2M, signs MAYO deal - Business Courier of Cincinnati:

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million through a private stock sale and that it inkefd a licensing deal for exclusive right sto cancer-diagnostic technologies developedc by the for Medical Educatiom and Research. The company said it had commenced on June 11 the saleof 4.31 million shares of its commoh stock at a purchase price of $1.90 a share. Meanwhile, Exact (Nasdaq: EXAS), baseed in Marlborough, Mass., announcec a plan to acquire the worldwidr licensing rights tothe blood- or stool-basede cancer diagnostics and screening technologies developed the MAYO Foundation, whichj is based in Minnesota.
Undetr the deals terms, Exact will: • make upfront paymentsa of $80,000 and a milestone fee of $250,009 upon the commencement of certainbclinical trials. • pay a milestones fee of $500,000 if the approves any of the products covered bythe agreement. • pay a minimu of $10,000 on the deal’s third anniversary • pay a minimum royalty of $25,000 on the fourth anniversar of theagreement • support certain research projectas to the tune of $500,000 at a minimum — in the agreement’as first year. Exact is also obligated to grant MAYO two warrants topurchase 1.25 million shares of its commohn stock.
The warrants have six-year terms and are exercisabld at a priceof $1.90 per share, according to a regulatorty filing.

Newsmaker | Rob Geyer - Sacramento Business Journal:

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“Health care is a very timely subjecyright now. There is a tremendous amoun of discussion going onin Washington, about what is the right answer. I thinj we’re going to see movement as the debate kicks into gear over the nextfew “Bruce Bodaken has been a very strong advocat for universal coverage, to the point wherw it was kind of counter-culturapl with the health plan industry. We were one of the firsgt to contend that everyone needz tobe covered.” Are you saying that health insurance shouls be mandatory, like auto insurance? Yes. Individualsw should be mandated tohave it. It’e an absolute no-brainer for me. Get everybody give everybody access.
It’s so crucial, and everybodyh needs it and shoul dhave it. When you talk about healthn careinsurance you’re talkinvg about health care and two of the most personal and intimate thinga that we as humans deal When you combine the two it can be very If you give people the optionm of having insurance or not havinvg it, it really will create a tremendous amounrt of risk to the wholew system. If you can say “I’m healthy and I don’y need it” so you can opt out, it’sz just not going to work. That woulsd require paying higher taxes. Can our economy handlw that? For the most part, people are getting accesxs to care.
If peoplre don’t have insurance and they needemergency they’re going to the hospitals. The hospitald aren’t getting paid for that, so what they do is raiser the price on the people whocan pay, the peopler who have insurance, so there’s a cost shifty going on either way. People who have health insurance have to pay higher rates because of the peoplewho don’yt have health insurance, or they can pay higher taxes so everybody has healtb insurance. Our position is that everybodyy needs to be contributing to the everybody needs to be paying intothe system. If everybodyg had insurance, the rateds would go down.
There are small clinics popping up all Some are staffed by volunteer and there is oftenno charge, or a minimall charge, to patients. Are they competition for Blue Shield? They shouldn’gt be. We’re a health plan, an insurancs carrier. Our job is to facilitate and enable people to have acceses to health care ina cost-effective way. (Retailk clinics are) a convenienc e item for people, and we want to make sure the clinics are providing good quality Do you see a relationship betwee n Blue Shield and retail clinics downthe road? Yes, down the road. Absolutely. We’re trying to figure out now wher they fit intothe landscape.
We evaluate every bit of new every new twist on the Welook for, one, is it good for Two, is it going to add value for is it going to provide cost-effectivde treatment so they get quality We evaluate those things, and if it makes sensew we will include it in the benefit plan.

Stephen Hassenfelt: Understated leader

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“I thought, ‘Ugh,’” Hassenfelt says. “So much for stayinbg out of the It’s not always possibled to stay behindthe scenes, though, especialluy for somebody who’s been involved in some of Greensboro’se biggest corporate and civic ventures during the past three The shyness he professes notwithstanding, Hassenfelt is well known whethedr he likes it or not.
Now concludintg his term as chairmanof UNCG’ss board of trustees, Hassenfelt founded two successful financial management firms in the city and helpedd engineer the merger of its two major hospital systems in the “I was a little surprisedc he was willing to do an interview with for this profile, says Sue his long-time business partner and principal of Granvillw Capital, which Hassenfelt founded in 2003. “He askecd me whether he shoulddo it, and I told him I thoughty he should, because people need to hear about his kind of His is the kind of leadership that is understateds but effective, say those who have worked with Hassenfelt throughn the years.
He tends to claim no public credit perhapws because his successful ventures often speakfor themselves. Chief amongv them, at least in terms of pure is N.C. Trust Co., the wealth managemenyt firm he co-founded in 1984 and led through growthj to 85 employees in downtown Greensboropand $2.5 billion in assets at the time of its sale to in 1999. Wealthg management was a career shift for who had earlier worked as an accountant and earnesd a law degree from Wake Foresrtin 1976. He founded his own boutique law firm with partne r Paul Livingston in Greensboroin 1981.
That practice focusecd on tax law, the area he found most but clients wanted a broader scope of Rather than simply brancu out thelaw practice, Hassenfelt splitf off on his own to create N.C. Trust. A trust made the most senswe as abusiness structure, he says, because as a fiduciary obligated to act in his clients’ best interests, he woulc be able to manage a bigger portion of their financial livezs and, hopefully, keep them out of “When I practiced law, people generallyy came to me when they had a Hassenfelt says. “In a trust, I could work with them on ways toavoidx problems.
” The more comprehensive approach appealed to Hassenfelt’w strategic nature, and that nature helps explaij the success and growth of N.C. says Cole, who joined that company in 1987 and eventuallhbecame U.S. Trust’s regional chiegf executive. “He studied so hard, and he’d talk to peopls all across the country and go to conferences and do whateverit took” to find edgex for his firm, Cole says. For N.C. Trust was one of the firsy financial management firms in the regio n to make sure every employee was usinygthose new-fangled desktop computers and e-mail. By the late N.C.
Trust had outgrown any claim to beinya small, boutique firm, but it was still too smal to take on its national One of those competitors, , tried to take over N.C. Trustt in 1998, Hassenfelt but even after thatdeal died, he knew some kind of mergedr was inevitable. The deal with U.S. Trusrt to create the U.S. Trust Company of North Carolina with Hassenfeltf as CEO preservedhis company’s locap status and even added some jobs as the resources of the larged firm created new servicesd for clients. But he was he admits, when just monthas later U.S. Trust turned around and mergeswith . Hassenfelt was tapped to help the top executives at Schwanband U.S.
Trust meld theire organizations together. He worked hard at it but coul d see it would be a troubled a view many industry observers would cometo “There were great people on both but they were totally different” in their stylew and experience, Hassenfelt says. Where U.S. Trusy was used to holding the handse of verywealthy people, Schwab was knowhn as an online discount broker that cateredf to do-it-yourself investors. If he’d known the Schwab mergedr was coming, Hassenfelt says, he wouldn’t have done the U.S. Trusyt deal.
But that doesn’t mean he thinks difficult deals aren’tt worth doing, as is evidencecd by the merger of and that Hassenfel helped make happen in 1997 after more than a year of planninfgand negotiation. Hassenfelt chaired Wesley Long’s boare at the time, which meantg he knew as well as anyone the difficultied that lay ahead of that organization with its smallef patient capacity and fewer specialized servicex ina head-to-head competitiob with the larger Moses Cone.

State workers get paid by Imagine PA - Philadelphia Business Journal:

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The effort to put all 80,000 employees of the executive branc of the state of Pennsylvania on one computee system recently reached a major milestone whenthe state's payrolpl functions were converted to the new system. Checksw from three pay periods have been issuerd using the new system without major glitches, said Mia DeVane, press secretary for the Officew of Administration, which is overseeinb the project. The system uses software developedby Walldorf, Germany-basecd SAP AG, whose North American subsidiary, SAP America is based in Newtown Square. It is being implemented by BearingPoint Inc., which used to be callede KPMGConsulting Inc. and is based in Va.
The Ridge administration contracted with SAP for the which is used by organization s to automate and link their business in 2000, and BearingPoint for the installation in 2001. SAP receiveed $51.9 million over three yearsw and BearingPoint isreceiving $115. 1 million over five years. The Rendell administration has slowedx the implementation of the system to makesure it's as buglesws as possible when employees begin using it. The payrol l component of the system was supposed to have been up and runninb ayear ago, but the Office of Administration didn'r think it was ready for prime time and postponedf its implementation until this year. Michael J.
Emmi and the other top executives at IPR Internationapl LLC have received the Ben Franklin Emerging Business Awars for BestManagement Team. Emmi bought IPR a few monthw after retiring from the posts of president and chief executive officereof Malvern, Pa.-based Systems and Computerf Technology Corp. in January 2002. SCT has since been acquiresd by SunGard DataSystems Inc. of IPR is based in Conshohocken. It providesd electronic data backup andarchiving services. Its top executivez in addition to Emmi includeJerry Smith, chief technology officer; Ellen chief financial officer; and Deirdre Wielgus, chief operating officer.
"Givem the high caliber of the other nominees and the experience of the we were especially honored to receive this coveted Emmi said. "We have been very fortunate in attractinygoutstanding talent, at all levels of our company." The Ben Franklinn Emerging Business Awards, commonly known as the were established by the Entrepreneurs Forum of Greaterd Philadelphia and Ben Franklin Technology Partners of Southeastern This year's awards ceremony was held at the Wyndhak Philadelphia at Franklin Plaza. Acuitty Pharmaceuticals of Philadelphia was named Biotecu Company ofthe Year.
Based in the Port of it is commercializing RNA-interference technologhy licensed from the University of Pennsylvania to develop treatments for degenerative eye diseases. Rajant Corp. of Wayne won the Most Innovativs Product award for its BreadCrumbWireless LAN, which is a battery-operated unit that allowsa users to establish a wireless, local area digital communicatione network. Inc. of Langhorne received the Most InnovativdService Award. It allowe event photographers to providecustomized photo-sharing Web sites to their clients.
Gerianne Tringali DiPianp won the IrisNewman Award, which was established in honor of the founder of the Women's Investment DiPiano is president and CEO of FemmePharmq Inc., a Wayne-based pharmaceutical company that focuses on diseases and disorder that disproportionately affect Morphotek Inc. received the initial Alumni Awardxlast month. The Exton-based company uses a technology for accelerating genetif evolutioncalled "morphogenics" to develoop protein and antibody pharmaceutical products. Philadelphia-based InnaPhase has received the 2004Frosrt & Sullivan Award for Technology Innovation.
Frost Sullivan announced the award in a publication it released earlier this month caller Strategic Analysis of the Worldr Laboratory Information ManagementSystems Markets. The New York-basef global technology consulting firm cited InnaPhase for its approacn to developingLIMS software, which, it said, ensures "that each laboratory within a pharmaceutical organizatioh has a LIMS application that is specificallyg designed for [its] businesw practice." Separately, InnaPhase has names Robert Voelkner director of business development. Prior to joining Volkner was vice president of sales for the Informaticsz division of ThermoElectron Corp.

Fred

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The Memphis-based discount retailer reportesd net incomeof $8.6 million, or 21 cents per dilutedr share, for first quarter 2009, up 17.8 percent compared to net income of $7.3 or 18 cents per diluted shar in first quarter 2008. The company had totalo first quarter salesof $458.4 million, down 1.3 percent comparesd to $464.3 million for firstg quarter 2008. In 2008, Fred’s (NASDAQ: closed 74 underperforming stores and 23 underperforming Excluding stores closedlast year, the compang increased total sales 5 percent in the firsg quarter compared to the same year-ago period. On a comparabls store basis, year-to-date sales increased 2.8% compared with 2.1% in the same periofd last year.
Fred’s CEO Bruce A. Efircd said he expected to see more improvement in thesecon quarter. “This will be a formidable task as we will be contendinyg with the economic stimulus checks consumers receivedx last year and recordunemployment rates," he said in a statement. "We also plan to launch our enhance store prototype in approximately 16 new and remodelef stores during the second During thefirst quarter, Fred'w opened three new stores and three new while closing three pharmacies. Fred’ board of directors also increasedthe company’d quarter cash dividend to 3 cents per share from the prior rate of 2 centsw per share.
The dividend is payable on June 15 to shareholderes of record as ofJune 1. Fred'd operates 666 discount generalmerchandise stores, including 24 franchisesd stores. Shares of Fred’s were tradinh lower in late Thursday trading, down abouy 5 percent to $13.14 per share.

The Web Shall Set You Free... or Maybe Not - National Journal

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The Web Shall Set You Free... or Maybe Not National Journal The State Department says governments can use the Internet to quash freedom. Presenters at Free Press's National Conference for Media Reform in Boston sayAmerican efforts to promote communications freedom should begin at home. ... and more »

Frederick A. Henderson Executive Profile

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Henderson also serves as chairmanof GM

For Sale By Owner? In this market? - Baltimore Business Journal:

http://igen.eetimes.com/profile/Timok
So, after completely renovatinvg a three-story, 90-year-old rowhouse in Cantoj to showcase appeal, he put it on the marke t — himself — in March for He figures the for-sale-by-owner efforg will be worth themoney he’ll save in real estatr agent commissions: 6 percent of the sale or $34,440, if a prospectivse buyer comes to the settlement tabl e without a Realtor, half that if the buyer brings an agent. Given today’s tough economy and fallin home prices, the prospect of savingy 6 percent ofa home’s sale price by completingb the transaction without a Realtor may sound enticing to any cash-conscioua homeowner.
But is it worth the especially in this tighthousing market? Buyers can afford to be pickier than ever, banks have become highly selective about lending money and a sale is far from a sure thing — in any market — until the buyer and seller both sign the settlementr papers.

Nordstrom to open first Rack store in Houston - Puget Sound Business Journal (Seattle):

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“We’ve wanted to bring our Houston customers a Nordstromn Rack for some timeand we’re thrille d about this opportunity,” Scott Meden, president of Nordstrojm Rack, said in a statement. The store will be locatedr in The Centre at Post Oak near Post Oak and Nordstrom Rackis Nordstrom’s off-price retail division offerinvg savings of 30 percent to 70 percent on apparel and accessoriese for women, men and children. Nordstrom Rack merchandised is made up of productsfrom Seattle-basesd Nordstrom’s (NYSE: JWN) full-line stores and the company’zs online store at Nordstrom.com, as well as specialp purchase items.
The Centre at Post Oak, owned by Houston-based , is locateed directly across the street from the Houston Galleria and includes tenants suchas Marshall’s, Barnes & Noble, Old Navy, Gran Lux Cafe and Morton’s Steakhouse. The newest Nordstrom Rack will bethe retailer’ws sixth in Texas.

IATA: Global airlines to lose $9B in 2009 - Pittsburgh Business Times:

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The ’s (IATA) new forecast is staggeringly worsd thanits $4.7 billion collective loss forecastg made just three months ago. The air carrier tradr group also downgraded its loss estimate for 2008to $10.4 billiob from $8.5 billion. “Theres is no modern precedent for today’s economic meltdown,” IATA Directofr General and CEO Giovanni Bisignani said in anews “The ground has shifted. Our industry has been shaken. This is the most difficult situation that the industry has Afterthe Sept. 11, 2001, terrot attacks on the United States, industry revenuesx fell by 7 percent, Bisignanio said, and took three years to reboun dto pre-9/11 levels.
Revenues will fall from $528 billio n in 2008 to $448 billion in 2009 (15 IATA said. Passenger yields will dip 7 percent. “Thiw time we face a 15 percent drop—a loss of revenue s of $80 billion—in the middlre of a global recession,” Bisignanu said during IATA’s annual industry summit. “Ourt future depends on a drastic reshaping by governmentsand industry. We cannoyt bear the cost of governmenty micro-regulation, crazy taxation and partners abusinb theirmonopoly power.” North American carrieres will generally fair better than foreignj carriers, IATA said, and should narrow theitr losses for the year.
North American airlines will lose $1 billion in 2008, dramatically less than the $5.1 billion lost in as out-of-the-money fuel hedges lapse and capacitty cuts kick in to right capacityywith demand. Previously, IATA said North Americanj carriers would turn a modesyt profit forthe year. Asia-Pacifivc and European carriers are likely to take the biggest hits, losing $3.3 billion and $1.8 respectively. Another heavily impacted air cargo, will decline by 17 percent based on tons Cargo yields will decline11 percent. Relaxedd fuel prices over the first five months of 2009 havehelpedc carriers, but prices have begun to climb in receny weeks.
IATA projects the industry fuel bill to fallfrom $165 billion in 2008 to $59 billion in 2009, on an $56 per barrel average pricew of oil. “The risk that we have seen in recenft weeks is that even the slightesg glimmer of economic hope sends oil prices Bisignani said. Greedy speculation must not hold the global economy Failure to act by governmentws wouldbe irresponsible.” airlines are in a better cash with more liquidity than in past downturns. But, Bisignani warned “az long L-shaped recovery could drain the industry of cash.
”