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News, Politics, Government

Presidential Memorandum — Expanding National Service

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By The White House

MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES

SUBJECT: Expanding National Service Through Partnerships to Advance Government Priorities

Service has always been integral to the American identity. Our country was built on the belief that all of us, working together, can make this country a better place for all. That spirit remains as strong and integral to our identity today as at our country's founding.

Since its creation 20 years ago, the Corporation for National and Community Service (CNCS) has been the Federal agency charged with leading and expanding national service. The Edward M. Kennedy Serve America Act of 2009 (SAA) expanded CNCS's authority to create opportunities for more Americans to serve. This landmark, bipartisan legislation focuses national service on six areas: emergency and disaster services; economic opportunity; education; environmental stewardship; healthy futures; and veterans and military families. The SAA provides greater opportunities for CNCS to partner with other executive departments and agencies (agencies) and with the private sector to utilize national service to address these critical areas.

National service and volunteering can be effective solutions to national challenges and can have positive and lasting impacts that reach beyond the immediate service experience. Americans engaged in national service make an intensive commitment to tackle unmet national and local needs by working through non-profit, faith-based, and community organizations. Service can help Americans gain valuable skills, pursue higher education, and jumpstart their careers, which can provide immediate and long-term benefits to those individuals, as well as the communities in which they serve.

Americans are ready and willing to serve. Applications from Americans seeking to engage in national service programs far exceed the number of available positions. By creating new partnerships between agencies and CNCS that expand national service opportunities in areas aligned with agency missions, we can utilize the American spirit of service to improve lives and communities, expand economic and educational opportunities, enhance agencies' capacity to achieve their missions, efficiently use tax dollars, help individuals develop skills that will enable them to prepare for long-term careers, and build a pipeline to employment inside and outside the Federal Government.

Therefore, by the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to expand the positive impact of national service, I hereby direct the following:

Section 1. Establishing a Task Force on Expanding National Service. There is established a Task Force on Expanding National Service, to be co-chaired by the Chief Executive Officer of CNCS and the Director of the Domestic Policy Council, which shall include representatives from agencies and offices that administer programs and develop policies in areas that include the six focus areas set forth in the SAA. The Task Force shall include representatives from:

(a) the Department of Defense;

(b) the Department of Justice;

(c) the Department of the Interior;

(d) the Department of Agriculture;

(e) the Department of Commerce;

(f) the Department of Labor;

(g) the Department of Health and Human Services;

(h) the Department of Housing and Urban Development;

(i) the Department of Transportation;

(j) the Department of Energy;

(k) the Department of …read more

Source: FULL ARTICLE at The White House Press Office

Business, Finance, Occupation & Industry

The Howard Hughes Corporation Names RKF Exclusive Consultant and Leasing Agent for the South Street

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By Business Wirevia The Motley Fool

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The Howard Hughes Corporation Names RKF Exclusive Consultant and Leasing Agent for the South Street Seaport


Redevelopment Poised to Attract Destination Retail, Dining and Entertainment Tenants

NEW YORK–(BUSINESS WIRE)– Following last month’s unanimous approval by the New York City Council for the redevelopment of Pier 17, The Howard Hughes Corporation (NYS: HHC) has named RKF as the exclusive consultant and leasing agent for the South Street Seaport.

The new Pier 17 (Photo: Business Wire)

With over 365,000 square feet of retail, dining and entertainment space located along the East River in Lower Manhattan, the South Street Seaport is comprised of the historic Uplands and Pier 17, south of the Brooklyn Bridge. The redevelopment plan features the complete transformation of the Pier 17 building, including enhanced and increased open space on the pier along with a new exterior façade encompassing dynamic retail space filled with distinctive stores, restaurants and neighborhood shops. Larger open spaces on the pier along with the new rooftop space – ideal for concerts, music and other entertainment events – will showcase breathtaking views of the city skyline, East River and Brooklyn Bridge. The design is contemporary yet draws from the site’s history as a bustling marketplace and renowned maritime port.

“Our vision for a revitalized and reenergized Seaport will create an unrivaled New York experience that is compelling for the ever-growing population of residents, local workers and visitors,” said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “Working with RKF will ensure we bring best-in-class offerings, including acclaimed national and international retailers, local shops and destination restaurants.”

A team of RKF brokers consisting of Chairman & CEO Robert K. Futterman, Executive VP Karen Bellantoni and Associate Tess Jacoby will represent The Howard Hughes Corporation on this landmark assignment. The RKF professionals will work in close collaboration with a team of The Howard Hughes Corporation executives, including Keith Laird, Executive Vice President of Leasing, and Michelle Waak, Vice President of Leasing.

“We are honored to have been chosen by The Howard Hughes Corporation to help transform the South Street Seaport and create the most vibrant retail and entertainment venue in Lower Manhattan,” said Robert K. Futterman. “Our deep expertise with urban

From: http://www.dailyfinance.com/2013/04/18/the-howard-hughes-corporation-names-rkf-exclusive-/

Business, Finance, Occupation & Industry

Blackstone Reports Record First Quarter Results

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By Business Wirevia The Motley Fool

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Blackstone Reports Record First Quarter Results

NEW YORK–(BUSINESS WIRE)– Blackstone (NYS: BX) today reported its first quarter 2013 results.

Stephen A. Schwarzman, Chairman and Chief Executive Officer, said, “Blackstone achieved strong first quarter results across the board. Revenue rose 29% year-over-year, and earnings were up 28%. Greater realizations, reaching $6 billion in the quarter, drove our second best quarter for cash earnings since becoming a public company. Blackstone also continues to show sustained asset growth. Although several of our investment businesses are already the largest of their kind in the world, every one reported year-over-year double-digit growth in total assets under management.”

Blackstone issued a full detailed presentation of its first quarter 2013 results which can be viewed at www.Blackstone.com.

Distribution

Blackstone has declared a quarterly distribution of $0.30 per common unit to record holders of common units at the close of business on April 29, 2013. This distribution will be paid on May 6, 2013.

Quarterly Investor Call Details

Blackstone will host a conference call on April 18, 2013 at 11:00 a.m. ET to discuss first quarter 2013 results. The conference call can be accessed via the Unit Holders section of Blackstone’s website at http://ir.blackstone.com/events.cfm or by dialing +1 (877) 391-6747 (U.S. domestic) or +1 (617) 597-9291 (international), pass code 149 943 55#. For those unable to listen to the live broadcast, a replay will be available following the call at http://ir.blackstone.com/events.cfm or by dialing +1 (888) 286-8010 (U.S. domestic) or +1 (617) 801-6888 (international), pass code 472 905 13#.

About Blackstone

Blackstone (NYS: BX) is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.Blackstone.com. Follow us on Twitter @Blackstone.

From: http://www.dailyfinance.com/2013/04/18/blackstone-reports-record-first-quarter-results/

Business, Finance, Occupation & Industry

BioLineRx to Present at the 12th Annual Needham Healthcare Conference in New York on April 30, 2013

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By Business Wirevia The Motley Fool

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BioLineRx to Present at the 12 th Annual Needham Healthcare Conference in New York on April 30, 2013

JERUSALEM–(BUSINESS WIRE)– BioLineRx (NAS: BLRX) (TASE: BLRX), a biopharmaceutical development company, announced today that its Chief Executive Officer, Kinneret Savitsky, Ph.D., and its Chief Financial and Operating Officer, Philip Serlin, will be presenting at the 12th Annual Needham Healthcare Conference in New York.

Dr. Savitsky and Mr. Serlin are scheduled to present at 3:40 P.M. EST on Tuesday, April 30, 2013.

A live Webcast of the presentation will be available on the BioLineRx Website at http://biolinerx.com/default.asp?pageid=63&itemid=181. A replay will be available one hour after the presentation ends and will be accessible for three months following the presentation.

Investors attending the conference that wish to meet with Dr. Savitsky and Mr. Serlin for a one-on-one meeting should contact the Needham Conference Team at conferences@needhamco.com.

About BioLineRx

BioLineRx is a publicly-traded biopharmaceutical development company. BioLineRx is dedicated to building a portfolio of products for unmet medical needs or with advantages over currently available therapies. BioLineRx’s current portfolio consists of six clinical stage candidates: BL-1040, for prevention of pathological cardiac remodeling following a myocardial infarction, which has been out-licensed to Ikaria Inc., is currently undergoing a pivotal CE-Mark registration trial; BL-5010 for non-surgical removal of skin lesions has completed a Phase I/II study; BL-7040 for treating inflammatory bowel disease (IBD) has completed a Phase IIa trial; BL-8040 for treating acute myeloid leukemia (AML) and other hematological cancers will shortly commence a Phase II study; BL-1021 for neuropathic pain is in Phase I development; and BL-1020 for schizophrenia. In addition, BioLineRx has six products in various pre-clinical development stages for a variety of indications, including central nervous system diseases, infectious diseases, cardiovascular and autoimmune diseases.

BioLineRx’s business model is based on acquiring molecules mainly from biotechnological incubators and academic institutions. The Company performs feasibility assessment studies and development through pre-clinical and clinical stages, with partial funding from the Israeli Government’s Office of the Chief Scientist (OCS). The final stage includes partnering with medium and large pharmaceutical companies for advanced clinical development (Phase III) and commercialization. For more information on BioLineRx, please visitwww.biolinerx.com, the content of which does not form a part of this press release.

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From: http://www.dailyfinance.com/2013/04/18/biolinerx-to-present-at-the-12th-annual-needham-he/

Business, Finance, Occupation & Industry

Eltek Ltd. Sets Earnings Release Date and Conference Call for Fourth Quarter and Year Ended December

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By Business Wirevia The Motley Fool

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Eltek Ltd. Sets Earnings Release Date and Conference Call for Fourth Quarter and Year Ended December 31, 2012 Financial Results

PETACH-TIKVA, Israel–(BUSINESS WIRE)– Eltek Ltd. (NASDAQ:ELTK), the leading Israeli manufacturer of advanced circuitry solutions, will release its financial results for the fourth quarter and year ended December 31, 2012, on Tuesday, April 30, 2013, before the market opens. Eltek’s financial results will be released over the news wires and will be posted on its corporate website.

On Tuesday, April 30, 2013 at 09:30 a.m. Eastern Time, Eltek will conduct a conference call to discuss the fourth quarter and year-end results. The call will feature Arieh Reichart, Chief Executive Officer and Amnon Shemer, Chief Financial Officer.

To participate, please call the following teleconference numbers. Please begin placing your calls 10 minutes before the hour:

From: http://www.dailyfinance.com/2013/04/18/eltek-ltd-sets-earnings-release-date-and-conferenc/

         
Domestic: 03-9180609
International:
Business, Finance, Occupation & Industry

Bacterin Announces Updates on Executive Leadership Transition Plans

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By Business Wirevia The Motley Fool

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Bacterin Announces Updates on Executive Leadership Transition Plans

Company in final stages of identifying search firm; several candidates express interest

BELGRADE, Mont.–(BUSINESS WIRE)– Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary bone graft material and coatings for medical applications, today announced that it is in the final stages of identifying a key executive search firm to assist with the identification of a new Chief Executive Officer. The Company has narrowed its selection to three search firms and noted that it expects to have selected a firm by the end of next week.

“It is business as usual here at Bacterin,” said Kent Swanson, Chairman of Bacterin International. “We have been pleased with the speed at which our board and management team – headed by interim Co-CEO’s, John Gandolfo, Chief Financial Officer, and Darrel Holmes, Chief Operating Officer – have diligently worked to align and stabilize the business as the result of our recent management transition and to retain a search firm for our new Chief Executive Officer position. Our business remains stable and our employees are now more optimistic about the prospects of the Company.”

The Company also announced solid progress with cost reduction measures designed to generate positive EBITDA.

Mr. Swanson further commented, “I am confident of the value proposition our products and services offers to the market place. The candidate for our Chief Executive Officer position will have an understanding of our product portfolio and will have a track record of developing markets in this evolving healthcare environment. This candidate will represent a new vision and era of growth and progress for Bacterin International.”

About Bacterin International Holdings

Bacterin International Holdings, Inc. (NYSE MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin’s proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral repair and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral repair in knee and other joint surgeries.

Bacterin’s Medical Device division develops, employs, and licenses coatings for various medical device applications. For further information, please visit www.bacterin.com.

From: http://www.dailyfinance.com/2013/04/17/bacterin-announces-updates-on-executive-leadership/

Business, Finance, Occupation & Industry

Annaly and CreXus Announce Final Results of Annaly Tender Offer

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By Business Wirevia The Motley Fool

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Annaly and CreXus Announce Final Results of Annaly Tender Offer

NEW YORK–(BUSINESS WIRE)– Annaly Capital Management, Inc. (NYS: NLY) (“Annaly”) and CreXus Investment Corp. (NYS: CXS) (“CreXus”) today announced the final results of the tender offer (the “Offer”), which commenced on March 18, 2013 and expired at 5:00 PM ET on April 16, 2013, whereby through a newly formed subsidiary, CXS Acquisition Corporation (“Acquisition”), Annaly offered to purchase all the shares of CreXus that Annaly does not already own. Annaly has accepted for purchase 55,225,336 shares of CreXus’ common stock at a purchase price of $13.05206 per share, for an aggregate cost of approximately $720.8 million, excluding fees and expenses relating to the Offer. The 55,225,336 shares accepted for purchase in the tender offer increase Annaly’s direct and indirect ownership to approximately 84.5% of CreXus’ common stock.

The final Offer price of $13.05206 per share consists of a price per share of $13.00 plus a payment in lieu of a prorated CreXus dividend of $0.05206 for the period from March 29, 2013 through April 16, 2013 (the date the Offer expired). The payment in lieu of a prorated dividend is based on the dividend of $0.25 per share that CreXus paid to holders of record on March 28, 2013, the calendar quarter immediately before the date the Offer expired.

“The expiration of this tender offer and anticipated subsequent closing of a merger between Annaly and CreXus is a meaningful next step in the evolution of Annaly’s capital allocation strategy,” said Wellington J. Denahan, Annaly’s Chairman and Chief Executive Officer. “We estimate that this acquisition will be accretive to the 2013 dividend, and the true benefits to the Annaly shareholder will be further realized as we continue to build upon our existing commercial real estate platform.”

Annaly has exercised its option, per the merger agreement, to purchase, for the same per share price that Annaly is paying for shares that were tendered in response to the Offer, additional shares directly from CreXus that will increase the number of shares Annaly directly or indirectly owns to 90% of the outstanding shares of CreXus’ common stock.

Annaly intends to complete the acquisition of CreXus through what is known as a “short-form merger”, that is, without a vote or meeting of CreXus’ remaining shareholders. In the merger, each of the remaining shares of CreXus common stock will be converted into the right to receive $13.05206 per share, less any withholding taxes, in cash and without interest, which is the same amount per share that was paid in the tender offer. The merger

From: http://www.dailyfinance.com/2013/04/17/annaly-and-crexus-announce-final-results-of-annaly/

Business, Finance, Occupation & Industry

KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings

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By Business Wirevia The Motley Fool

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KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings

CARMEL, Ind.–(BUSINESS WIRE)– KAR Auction Services, Inc. (NYS: KAR) announced today that it will be releasing its first quarter 2013 earnings on Wednesday, May 1, 2013.

KAR Auction Services, Inc. will also be hosting an earnings conference call and webcast on Thursday, May 2, 2013 at 11:00 a.m. EDT (10:00 a.m. CDT). The call will be hosted by KAR Auction Services, Inc.’s Chief Executive Officer, Jim Hallett and Executive Vice President and Chief Financial Officer, Eric Loughmiller. The conference call may be accessed by calling 1-888-466-4414and entering participant passcode 156725 while the live web cast will be available at the investor relations section of www.karauctionservices.com.

A replay of the call will be available for two weeks via telephone starting approximately 30 minutes after the completion of the call. The replay may be accessed by calling 1-888-203-1112and entering pass code 1235452. The archive of the web cast will also be available following the call and will be available at the investor relations section of www.karauctionservices.com for a limited time.


About KAR Auction Services, Inc.

KAR Auction Services, Inc. (NYS: KAR) is the holding company for ADESA, Inc. (“ADESA”), Insurance Auto Auctions, Inc. (“IAA”), and Automotive Finance Corporation (“AFC”). ADESA is a leading provider of wholesale used vehicle auctions with 67 North American locations and its subsidiary OPENLANE provides a leading Internet automotive auction platform. Insurance Auto Auctions is a leading salvage vehicle auction company with 163 sites across North America. Automotive Finance Corporation is a leading provider of floorplan financing to independent and franchise used vehicle dealers with 104 sites across North America. Together, KAR Auction Services provides a unique, comprehensive, end-to-end solution for our customers’ remarketing needs. Visit karauctionservices.com for additional information.

KAR Auction Services, Inc.
Treasurer and Vice President, Investor Relations
Jonathan Peisner, 317-249-4390
jonathan.peisner@karauctionservices.com

KEYWORDS:   United States  North America  Indiana

INDUSTRY KEYWORDS:

The article KAR Auction Services, Inc. to Announce First Quarter 2013 Earnings originally appeared on Fool.com.

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From: http://www.dailyfinance.com/2013/04/17/kar-auction-services-inc-to-announce-first-quarter/

News, Politics, Government

Isaac Mizrahi, Brand Charisma and QVC

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By Simon Graj, Contributor Robert W. D’Loren is Chairman of the Board and Chief Executive Officer of the omni-channel company Xcel Brands, Inc. – owner of the Isaac Mizrahi brand and a 50% interest in the Liz Claiborne New York brand. He is also chairman and CEO of IPX Capital, LLC a private equity investment company; and he was Director, President and CEO of Nexcen Brands from June 2006 to August 2008. His career in IP-centric and consumer-branded products has been extensive and long-term. Among the other highly visible brands with which he has been associated are The Athlete’s Foot, Waverly Home, Iconix Brand Group and Bill Blass, Ltd. This interview was conducted for the Simon Graj blog series by Ron Beyma.  

From: http://www.forbes.com/sites/simongraj/2013/04/15/isaac-mizrahi-brand-charisma-and-qvc/

Business, Finance, Occupation & Industry

Lantheus Medical Imaging Realigns Executive Leadership Team

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By Business Wirevia The Motley Fool

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Lantheus Medical Imaging Realigns Executive Leadership Team

Mary Anne Heino Joins Company as New Chief Commercial Officer; Company Positioned to Optimize Growth

NORTH BILLERICA, Mass.–(BUSINESS WIRE)– Lantheus Medical Imaging, Inc., a global leader in developing, manufacturing and distributing innovative diagnostic imaging agents, today announced the Company is realigning its executive management team to optimize growth of the organization. To infuse new talent into the Company, Mary Anne Heino has been appointed as the new Chief Commercial Officer, effective April 15, 2013. Ms. Heino brings to the Company significant expertise and leadership in all facets of pharmaceutical and biotech commercial operations across multiple therapeutic markets. In her new role, Ms. Heino will be responsible for Global Sales & Marketing.

As part of the realignment, Mike Heslop, formerly Vice President, International, will become the Company’s new Vice President, Business Development and Strategic Planning, a role that will focus on leading strategic partnerships, including for Lantheus’ most advanced clinical candidate, flurpiridaz F 18, and driving key commercial initiatives. Additionally, Cyrille Villeneuve, formerly Chief Commercial Officer, will move to the role of Vice President, International, to focus on growing the Company’s international business.

“Growing our business, both in the U.S. and internationally, and successfully partnering our pipeline of innovative diagnostic imaging agents are top priorities for the Company,” said Jeff Bailey, Chief Executive Officer. “By adding new top talent and optimizing the strengths of our existing management team, we can effectively enhance our capabilities and focus on our critical drivers to align Lantheus for further success.”

Ms. Heino is well positioned to lead the Company’s Global Sales & Marketing organization with nearly 25 years of pharmaceutical sales and marketing leadership, including progressive executive experience with Centocor, Inc. and Janssen Pharmaceutica during her 18-year tenure with the Johnson & Johnson Family of Companies. While at Centocor, she led both the Cardiovascular and Immunology sales forces, as well as key areas of Commercial Operations. Recently, she served as President of Angelini Labopharm, an international pharmaceutical joint venture. Ms. Heino received a B.S. in Nursing from the City University of New York, a B.S. in Biology from Stony Brook University, and an M.B.A. from The Stern School of Business at New York University.

About Lantheus Medical Imaging, Inc.

Lantheus Medical Imaging, Inc., a global leader in developing, manufacturing and distributing innovative diagnostic imaging agents,

From: http://www.dailyfinance.com/2013/04/15/lantheus-medical-imaging-realigns-executive-leader/

Business, Finance, Occupation & Industry

Rigrodsky &amp; Long, P.A. Announces Investigation Of MOD-PAC Corp. Buyout

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By Business Wirevia The Motley Fool

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Rigrodsky & Long, P.A. Announces Investigation Of MOD-PAC Corp. Buyout

WILMINGTON, Del.–(BUSINESS WIRE)– Rigrodsky & Long, P.A.:

  • Do you own shares of MOD-PAC Corp. (NASDAQ GM: MPAC )?
  • Did you purchase any of your shares prior to April 11, 2013?
  • Do you think the proposed buyout price is too low?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of MOD-PAC Corp. (“MOD-PAC” or the “Company”) (NASDAQ GM: MPAC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by a group consisting of the Company’s President and Chief Executive Officer, Daniel G. Keane, and its Chairman of the Board, Kevin T. Keane, and their affiliates and associates (the “Buyer Group“).

Click here to learn more: http://www.rigrodskylong.com/investigations/mod-pac-corp-mpac-buyout.

Under the terms of the agreement, the Company’s shareholders, excluding the Buyer Group, will receive $8.40 per share in cash for each share of MOD-PAC they own.

The investigation concerns whether MOD-PAC’s board of directors failed to adequately shop the Company and obtain the best possible value for MOD-PAC’s shareholders before entering into an agreement with the Buyer Group.

If you own the common stock of MOD-PAC and purchased your shares before April 11, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Brian Long at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (302) 295-5310, or Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone

From: http://www.dailyfinance.com/2013/04/13/rigrodsky-long-pa-announces-investigation-of-mod-p/

Business, Finance, Occupation & Industry

Islet Sciences Announces Cell Transplant Journal's Release on Novel Methods of Isolating Piglet Isle

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By Business Wirevia The Motley Fool

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Islet Sciences Announces Cell Transplant Journal’s Release on Novel Methods of Isolating Piglet Islets

NEW YORK–(BUSINESS WIRE)– Islet Sciences, Inc., (ISLT) a clinical stage company engaged in the research, development and commercialization of therapeutics in the field of diabetes, announced today that Cell Transplant Journal released on novel methods of isolating piglet islets, a technology owned by Islet Sciences.

“This release is another validator of our approach to tackling this worldwide disease,” stated John Steel, Islet Sciences Chairman and Chief Executive Officer. “We continue to make solid important strides in executing our business strategy and this paper represents another clear milestone. Importantly, with our long term supply agreement with Spring Point Project, an FDA approved facility for porcine tissue, this novel methodology for potential production of unlimited islet cells, provides a crucial foundation for our goal to provide islet cell replacement therapy for persons with insulin dependent diabetes. Islet Sciences initial targeted group are diabetics that have had kidney transplants and may benefit from the opportunity to have islet therapy to augment outcomes.”

“This work is exciting in that we have developed a novel method of producing viable piglet islets that is reproducible and scalable in doses of islets that will be required to transplant into patients with insulin dependent diabetes,” stated Dr. Jonathan Lakey, Chief Scientific Officer and Chairman of the Scientific Advisory Board of Islet Sciences.

Below is a link and copy of the Abstract:

http://www.ncbi.nlm.nih.gov/pubmed/23394130#

In vitro maturation of viable islets from partially digested young pig pancreas

Abstract

Isolation of islets from market size pig is costly, with considerable islet losses from fragmentation occurring during isolation and tissue culture. Fetal and neonatal pigs yield insulin unresponsive islet-like cell clusters that become glucose responsive after extended periods of time. Both issues impact clinical applicability and commercial scale-up. We have focused our efforts on a cost-effective scalable method of isolating viable insulin responsive islets. Young Yorkshire pigs (mean age 20 days, range 4-30 days) underwent rapid pancreatectomy (<5 min) and partial digestion using low dose collagenase, followed by in vitro culture at 37°C and 5% CO₂ for up to 14 days. Islet viability was assessed using FDA/PI or Newport Green and function assessed using glucose stimulated insulin release (GSIR) assay. Islet

From: http://www.dailyfinance.com/2013/04/12/islet-sciences-announces-cell-transplant-journals-/

Business, Finance, Occupation & Industry

The Bon-Ton Stores, Inc. Announces June Closing of Its Younkers Muskegon, Michigan Furniture Gallery

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By Business Wirevia The Motley Fool

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The Bon-Ton Stores, Inc. Announces June Closing of Its Younkers Muskegon, Michigan Furniture Gallery

YORK, Pa.–(BUSINESS WIRE)– The Bon-Ton Stores, Inc. (Nasdaq: BONT) today announced it will close its Younkers Furniture Gallery in the Lakeshore Marketplace in Muskegon, Michigan. The Company will terminate its lease as of July 1, 2013. The closing will impact approximately 20 associates at this location.

The Bon-Ton acquired the leasehold interests in the Muskegon Furniture Gallery store as part of the Elder-Beerman acquisition in 2003. The Company does not expect costs associated with the closing of the location to be material. The store will close June 2013. The closing of the Younkers Furniture Gallery has no impact on the operations at the Younkers department store located in The Lakes Mall.

Brendan Hoffman, President and Chief Executive Officer, commented, “We are very grateful for the devoted Younkers Muskegon Furniture Gallery store associates and are committed to providing assistance to these associates.”

The affected associates in the Muskegon Furniture Gallery location will be offered the opportunity to interview for available positions at other Younkers stores or receive career transition benefits, including severance, according to established practices and state employment service support.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 272 department stores, which includes 11 furniture galleries, in 24 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner’s, Boston Store, Carson’s, Elder-Beerman, Herberger’s and Younkers. The department stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings. For further information, please visit the investor relations section of the Company’s website at http://investors.bonton.com.

Certain information included in this press release contains statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, which may be identified by words such as “may,” “could,” “will,” “plan,” “expect,” “anticipate,” “estimate,” “project,” “intend” or other similar expressions, involve important risks and uncertainties that could significantly affect results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of the Company. Factors that could cause such differences include, but are not limited to, risks related to retail businesses generally; a significant and prolonged deterioration of general economic conditions which could negatively impact the Company, including the potential write-down of the current valuation of intangible assets and deferred taxes; risks related to

From: http://www.dailyfinance.com/2013/04/12/the-bon-ton-stores-inc-announces-june-closing-of-i/

Business, Finance, Occupation & Industry

Signature Group Chairman, Mr. Chris Colville, to Assume CEO Responsibilities

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By Business Wirevia The Motley Fool

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Signature Group Chairman, Mr. Chris Colville, to Assume CEO Responsibilities

SHERMAN OAKS, Calif.–(BUSINESS WIRE)– Signature Group Holdings, Inc. (OTCQX: SGGH), a diversified enterprise with current principal activities in industrial supply and special situations finance, announces today that Mr. Craig Noell has reached an agreement with the Company to resign as Chief Executive Officer pursuant to the terms of a Separation Agreement and General Release. Mr. Chris Colville, Chairman of the Board of Directors, will immediately assume the responsibilities of Chief Executive Officer.

Speaking on behalf of the board of directors, Philip Tinkler, a director of Signature and Chief Operating and Financial Officer at Equity Group Investments, stated, “We are extremely fortunate to have someone of Chris’ experience available to step in and provide the leadership needed to execute our growth strategies, in particular meaningful acquisitions. With a background that includes over 100 transactions, as well as financings to support mergers and acquisitions and other corporate activities, the Board is highly confident about Signature’s future under Chris’ direction.”

About Signature Group Holdings, Inc.

Signature is a diversified enterprise with current principal activities in industrial supply and special situations finance. Signature has significant capital resources and is actively seeking additional acquisitions as well as growth opportunities for its existing businesses. At December 31, 2012, Signature had federal net operating loss tax carryforwards of approximately $886.9 million. For more information about Signature, visit its corporate website at www.signaturegroupholdings.com.

Cautionary Statement Regarding Forward-Looking Statements

This earnings release contains forward-looking statements, which are based on our current expectations, estimates, and projections about our business and prospects, as well as management’s beliefs, and certain assumptions made by us. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “may,” “should,” “will,” and variations of these words are intended to identify forward-looking statements. Such statements speak only as of the date hereof and are subject to change. We undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements include, but are not limited to, statements about the Company’s anticipated growth opportunities and future operating results, as well as the impact of our new Chief Executive Officer. Such statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Accordingly, our actual results could differ materially and adversely from those expressed in any forward-looking statements

From: http://www.dailyfinance.com/2013/04/12/signature-group-chairman-mr-chris-colville-to-assu/

Business, Finance, Occupation & Industry

Forest Oil Announces Eagle Ford Shale Development Agreement

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By Business Wirevia The Motley Fool

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Forest Oil Announces Eagle Ford Shale Development Agreement

Schlumberger to be Fully Aligned as a 50/50 Strategic Partner Providing Technology, Integrated Services and Capital Resources to Enhance Value of Eagle Ford Shale Asset

DENVER–(BUSINESS WIRE)– Forest Oil Corporation (NYS: FST) (Forest or the Company) today announced the signing of a definitive agreement with Schlumberger (NYS: SLB) , the world’s leading oilfield services company supplying technology, information solutions and integrated project management to the oil and gas industry, for the future development of Forest’s Eagle Ford Shale acreage in Gonzales County, Texas.

Patrick R. McDonald, Forest’s President and Chief Executive Officer, stated, “We believe that our Eagle Ford position is a valuable oil asset and being aligned and working together cooperatively with a strategic partner such as Schlumberger will greatly enhance the value of this important asset. Schlumberger Production Management (“Schlumberger”) will provide the technology, integrated services, and capital resources necessary for us to retain and develop a substantial portion of our acreage position. The development agreement allows for accelerated production growth and enhancement of our project economics as we integrate leading edge technologies across all aspects of our Eagle Ford development program. Forest anticipates increasing drilling activity to four rigs, from one to two rigs currently, by the end of the third quarter of 2013. The capital carry amount combined with the accelerated pace of development brings forward approximately $250 million in PV10 economics to Forest. We are pleased that Schlumberger, after several months of conducting their own technical due diligence, is partnering with us so that we can achieve the best possible results for our company and our shareholders.”

Carl Trowell, President, Schlumberger Production Management, commented, “We are pleased to be part of this exciting opportunity, in which Forest and Schlumberger are fully aligned and committed to the development of Forest’s Eagle Ford unconventional resources. Our primary goal will be to support and complement Forest’s current team, and to develop and deploy industry-leading technologies; develop the best unconventional resource workflows; and implement new reservoir management techniques in order to maximize production and reserves.”

Under the terms of the agreement, Schlumberger will pay a $90 million drilling carry in the form of future drilling and completion services and related development capital in order to earn a 50% working interest in Forest’s Eagle Ford Shale acreage position. Upon completion of the phased contribution of the drilling carry, Forest and Schlumberger will participate in future

From: http://www.dailyfinance.com/2013/04/12/forest-oil-announces-eagle-ford-shale-development-/

Business, Finance, Occupation & Industry

Level 3 Picks New CEO

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By Rich Smith, The Motley Fool

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Just one month after alerting investors to the possibility, Broomfield, Colorado-based Level 3 Communications is under new management today. The global voice and data carrier announced Thursday that company President and Chief Operating Officer Jeff K. Storey has been promoted to Chief Executive Officer, replacing outgoing CEO James Q. Crowe.

A five-year veteran of the company, and 30-year veteran of the industry, Storey was said to have been “the clear and unanimous choice of the Board” to replace Crowe.

In addition to the new job, Storey also gets a new and improved pay package. In a filing with the SEC Thursday, Level 3 described how Storey will receive:

  • A 46% increase in salary to $950,000 a year
  • An increase in his annual long-term incentive awards from 75,000 outperform stock appreciation rights (essentially, virtual stock options), to 100,000
  • A similar increase in his allotment of restricted stock units from 75,000, to 100,000

The balance of Storey’s compensation will remain “at the award levels originally granted to him.” 

The article Level 3 Picks New CEO originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

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From: http://www.dailyfinance.com/2013/04/11/news-level-3-picks-new-ceo/

Business, Finance, Occupation & Industry

Bank of the Ozarks, Inc. Announces First Quarter 2013 Earnings

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Bank of the Ozarks, Inc. Announces First Quarter 2013 Earnings

LITTLE ROCK, Ark.–(BUSINESS WIRE)– Bank of the Ozarks, Inc. (NAS: OZRK) today announced that net income for the quarter ended March 31, 2013 was $20.0 million, an 11.1% increase from $18.0 million for the first quarter of 2012, but a decrease of 3.2% from $20.7 million for the fourth quarter of 2012. Diluted earnings per common share for the first quarter of 2013 were $0.56, a 7.7% increase from $0.52 for the first quarter of 2012, but a decrease of 5.1% from $0.59 for the fourth quarter of 2012.

During the fourth quarter of 2012, the Company completed its acquisition of Genala Banc, Inc. (“Genala”) and its wholly owned subsidiary, The Citizens Bank, in Geneva, Alabama. This acquisition resulted in a gain, net of acquisition and conversion costs, of approximately $1.1 million after taxes, or approximately $0.03 of diluted earnings per common share.

The Company’s returns on average assets and average common stockholders’ equity for the first quarter of 2013 were 2.06% and 15.77%, respectively, compared to 1.91% and 16.75%, respectively, for the first quarter of 2012.

In commenting on these results, George Gleason, Chairman and Chief Executive Officer, stated, “We are very pleased to report an excellent first quarter. While our results for the quarter, including loan and lease growth, reflect some of the headwinds typically encountered during the first quarter, our excellent net interest margin, superb asset quality, near-record mortgage lending income and good control of non-interest expenses provide a great start for 2013.”

Loans and leases, excluding loans covered by FDIC loss share agreements (“covered loans”) and purchased loans not covered by loss share (“purchased non-covered loans”), were $2.16 billion at March 31, 2013, a 14.2% increase from $1.89 billion at March 31, 2012, and a 2.0% increase from $2.12 billion at December 31, 2012. Including covered loans and purchased non-covered loans, total loans and leases were $2.74 billion at March 31, 2013, a 3.4% increase from $2.65 billion at March 31, 2012, but a 0.5% decrease from $2.75 billion at December 31, 2012.

Mr. Gleason stated, “Our balance of loans and leases outstanding, excluding covered loans and purchased non-covered loans, increased $42 million in the quarter just ended. Our unfunded balance of closed loans increased $20 million during the first quarter, growing from $769 million at December 31, 2012 to $789 million at March 31, 2013. This significant unfunded balance of closed loans has favorable implications for future growth in our

From: http://www.dailyfinance.com/2013/04/11/bank-of-the-ozarks-inc-announces-first-quarter-201/

Business, Finance, Occupation & Industry

Walter Energy Provides Preliminary First Quarter 2013 Operating Results

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Walter Energy Provides Preliminary First Quarter 2013 Operating Results

BIRMINGHAM, Ala.–(BUSINESS WIRE)– Walter Energy, Inc. (NYS: WLT) (TSX: WLT) today said that performance for the first quarter 2013 has improved compared with fourth quarter 2012, driven largely by increased metallurgical coal sales volume and pricing, increased production and lower costs.

“Improvements across our operations over the past several months reflect the success of our ongoing initiatives,” said Walt Scheller, Chief Executive Officer. “Along with the progress we continue to make in our operations, we are also pleased with the recent actions taken to increase our financial flexibility. As to the current market, we have seen stronger demand and improved pricing, with second quarter benchmark prices of $172 per metric ton for hard coking coal and $141 per metric ton for low vol PCI. We believe all these factors position us well as we look ahead to the remainder of 2013.”

Metallurgical Coal Sales

Walter Energy expects to report first quarter 2013 metallurgical coal sales volume of approximately 2.8 million metric tons, up approximately 9% compared with fourth quarter 2012. Average realized metallurgical coal sales prices are also expected to improve slightly compared with fourth quarter 2012, primarily due to a higher sales volume of low vol hard coking coal and a slight strengthening in the market. The improvement in pricing in the quarter was tempered by approximately 700,000 metric tons of carryover sales at fourth quarter 2012 pricing.

The Company also expects to report that metallurgical coal cash cost of sales declined by over $10 per metric ton as compared with the fourth quarter 2012, primarily driven by the higher proportion of low vol hard coking coal sales from our Alabama operations and a substantial improvement in cash cost of sales for low vol PCI.

Metallurgical Coal Production

First quarter 2013 metallurgical coal production is expected to total approximately 2.8 million metric tons, up approximately 12% compared with fourth quarter 2012. While production volumes early in the first quarter reflected the impacts of planned long wall moves in the Company’s Alabama operations, production performance improved in the latter part of the quarter. Metallurgical coal cash costs of production is expected to improve by approximately 5% compared with the fourth quarter.

From: http://www.dailyfinance.com/2013/04/11/walter-energy-provides-preliminary-first-quarter-2/

Business, Finance, Occupation & Industry

SYNNEX Corporation Propels Channel Mobility Solutions with MOBILITYSolv

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SYNNEX Corporation Propels Channel Mobility Solutions with MOBILITYSolv

New business model provides end-to-end mobile strategies for both SMB and Enterprise

FREMONT, Calif.–(BUSINESS WIRE)– The Global Mobility Solutions business unit of SYNNEX Corporation (NYS: SNX) , a leading distributor of IT products and services, has launched the Company’s comprehensive channel mobility strategy, MOBILITYSolv. Providing the roadmap for an entire mobility solution, MOBILITYSolv encompasses all angles needed to enable resellers to capture the complete sales opportunity in an increasingly mobile world.

Led by mobility-industry veteran Adnon Dow, MOBILITYSolv‘s “Connect, Move and Control” strategy provides end-to-end mobility and connectivity solutions, leveraging best-of-breed vendors to keep workforces connected and productive. SYNNEX resellers are able to deploy robust, scalable and secure mobility solutions, simplifying the management of remote devices, reducing costs and offering availability of mission critical applications.

“At SYNNEX, we embrace change, and at certain times we create new business models to address tipping point trends responsible for changing how businesses operate and how people consume information,” said Kevin Murai, President and Chief Executive Officer, SYNNEX Corporation. “With mobility and cloud reshaping the IT industry, MOBILITYSolv goes beyond products and infrastructure, resulting in a comprehensive, service oriented and value-added end-to-end mobile solution.”

“MOBILITYSolv gives SYNNEX resellers a unique opportunity to solve their customers’ mobility challenges beyond just controlling devices. It’s more about mobilizing the enterprise, while being able to analyze the data behind it and understand what to do with that data to make smart business decisions,” said Adnon Dow, Vice President, Global Mobility Solutions business unit, SYNNEX Corporation. “Connect, move and control is connecting people, devices and networks to anyone, to anything at any time.”

MOBILITYSolv bridges across the other technology solutions SYNNEX offers to the channel and encompasses Machine-2-Machine, productivity solutions, security and optimization, as well as support services. Through a series of MOBILITYSolv educational road shows, resellers can learn how collaborating with SYNNEX enables them to have a strong mobility practice.

To learn more about MOBILITYSolv, visit www.synnex.com/mobilitysolv, email mobilitysolv@synnex.com or call 800-456-4822, ext. 4042.

About SYNNEX Corporation

SYNNEX Corporation, a Fortune 500 corporation, is a leading business process services company, servicing resellers, retailers and original equipment manufacturers in multiple regions around the world. The Company provides services in IT distribution,

From: http://www.dailyfinance.com/2013/04/11/synnex-corporation-propels-channel-mobility-soluti/

Business, Finance, Occupation & Industry

Coeur Enters Into Letter of Intent to Sell Non-Core Assets for up to US$67 Million in Total Consider

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By Business Wirevia The Motley Fool

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Coeur Enters Into Letter of Intent to Sell Non-Core Assets for up to US$67 Million in Total Consideration

COEUR D’ALENE, Idaho–(BUSINESS WIRE)– Coeur d’Alene Mines Corporation (the “Company” or “Coeur”) (NYS: CDE) (TSX: CDM) today announced that it has entered into a letter of intent with XDM Royalty Corp. (“XDM“) to sell its interest in the silver production and reserves from the Endeavor mine in australia (the “Endeavor silver stream”) and the royalty from the Cerro Bayo gold and silver mine in southern Chile (the “Cerro Bayo royalty”) for up to US$67 million in total cash and XDM equity consideration.

The letter provides that XDM will pay US$45 million in cash and issue US$10 million in common equity to Coeur at closing, subject to adjustment for cash flow to Coeur from the Endeavor silver stream since January 1, 2013 which will be for XDM‘s account. The letter also provides for two additional contingent cash payments totaling US$12 million for the Endeavor silver stream upon achieving certain milestones related to future potential reserve increases and mine development.

Mitchell J. Krebs, President and Chief Executive Officer of Coeur, said, “This sale of non-core assets presents a compelling and accretive transaction for Coeur shareholders. The XDM consideration, even without the contingent payments, unlocks significant value that has not been reflected in Coeur’s current share price. The proceeds from this transaction will provide Coeur with additional capital to selectively invest in high-return internal and external opportunities, including our ongoing share repurchase program.”

Of the US$55 million in total consideration payable by XDM to Coeur at closing, US$40 million is allocated to the Endeavor silver stream and US$15 million in cash is allocated to the Cerro Bayo royalty.

Closing is currently expected in the second quarter of 2013, subject to an XDM financing condition and the negotiation and execution of definitive agreements, in addition to customary conditions. The sale of the Cerro Bayo royalty is subject to a right of first refusal held by Mandalay Resources Corporation (“Mandalay”), the owner and operator of the Cerro Bayo mine. In the event Mandalay exercises its right of first refusal, XDM would still be obligated to acquire the Endeavor silver stream.

In May 2005, the Company paid US$44 million for all of the silver production and reserves (up to 20 million payable ounces) contained at the Endeavor mine in New South Wales, australia. As of March 31, 2013, approximately 102% of the original purchase price has been recovered. In 2012, Endeavor produced 665,816 payable ounces

From: http://www.dailyfinance.com/2013/04/11/coeur-enters-into-letter-of-intent-to-sell-non-cor/