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	Texans CU president resigns The president and chief executive officer of Texans Credit Union has resigned, effective Jan. 31, as the nonprofit organization struggles with bad business loans and the same economic forces that have hurt large banks in recent months. Artison fund managers win Morningstar honor Artison Partners of Milwaukee said Tuesday that portfolio co-managers David Samra and Daniel O’Keefe have been named Morningstar's International-Stock Fund Manager of the Year for 2008 for their management of the Artisan International Value Fund. Maierhofer joins McCarthy Capital Scott Maierhofer, formerly co-president of Green Manning & Bunch, has joined McCarthy Capital as a partner, the company said Tuesday. (COBZ) BofA CEO recommends top brass get no bonuses Bank of America CEO Ken Lewis said in a memo to employees Tuesday that he’s recommending the board not award 2008 bonuses to himself and other senior executives. InFocus investor snaps up shares An investor who’s been accumulating shares of InFocus Corp. has just added to his holdings. (INFS) Wells Fargo buys loans and leases from GE Wells Fargo & Co. said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC) BofA CEO recommends top brass get no bonuses Bank of America CEO Ken Lewis said in a memo to employees Tuesday that he’s recommending the board not award 2008 bonuses to himself and other senior executives. (BAC) Bederra OKs stock split The board of Bederra Corp. has approved a reverse split of its common stock. Wells Fargo buys $730M in loans, leases from GE Wells Fargo & Co. has purchased $730 million in loans and leases from General Electric Co. (WFC) (GE) DiNapoli: NY’s future tied to Wall St. State Comptroller Thomas DiNapoli dismisses concerns that Wall Street will never be the same whenever the unrelenting shake-up on the markets comes to an end. Procter & Gamble products to be spotlighted in Web series Procter & Gamble Co. will integrate several products into a Web series that will run online in February and during the NCAA men’s basketball tournament in March, according to <em>Brandweek</em> . (PG) Stock Yards won’t participate in TARP S.Y. Bancorp Inc., parent company of Stock Yards Bank & Trust Co., will not participate in the U.S. Treasury Department’s Capital Purchase Program. (SYBT) Transwestern adds nearly 900,000 s.f. to management portfolio The Austin office of commercial real estate firm Transwestern has taken on nearly 900,000 square feet of new property management assignments. Procter & Gamble products to be spotlighted in Web series Procter & Gamble Co. will integrate several products into a Web series that will run online in February and during the NCAA men’s basketball tournament in March, according to <em>Brandweek</em> . (PG) Bank of Oak Ridge capital plan approved Oak Ridge Financial Services has received preliminary approval to sell $7.7 million worth of preferred stock and warrants to the U.S. government under the Capital Purchase Plan. (BKOR) Widgetmaker Clearspring makes cuts Clearspring Technologies Inc. is the latest local tech company to reveal it has reduced its headcount. Wells Fargo buys loans and leases from GE Wells Fargo said late Monday it bought about $730 million in loans and leases from General Electric. (GE) (WFC) Council Ventures names new partner Investor Grant Jackson has been named a general partner at Council Ventures, a Nashville venture firm focused on the convergence of health care and financial services. Panelists: Alabama's economy to weather storm With a rough 2008 behind us, many will be relieved to know that the “worst of the worst” is over and Alabama’s economy is prepared to ride out the storm, a panel of experts said Tuesday morning. Fidelity hires ex-Evergreen CEO Fidelity Investments said it hired Peter Cieszko, former CEO of Evergreen Investments, as president of its institutional services operations, which manage $272 billion in assets. Dow Chemical taking legal action in failed Kuwaiti venture Dow Chemical said Tuesday that it will take legal action in hopes of forcing the Petrochemical Industries Co. of Kuwait to go through with a joint venture with Dow. (DOW) (ROH) Report: Economic recovery a year away Florida lost more than 150,000 jobs in the past 12 months and it’s only the beginning, said a report by Attorneys’ Title Insurance Fund. HUD grant to support SAHA jobs program The San Antonio Housing Authority (SAHA) has received a $97,853 grant from the U.S. Housing and Urban Development for its Housing Choice Voucher Family Self-Sufficiency Program. Elliott takes new role with Bowling Green chamber R. Marc Elliott, former executive director of the River Ridge Commerce Center in Clark County, has been named vice president for property development and public policy for the Bowling Green Area Chamber of Commerce. Wells Fargo buys loans and leases from GE Wells Fargo late Monday said it purchased about $730 million in loans and leases from General Electric. (GE) (WFC) Wells Fargo buys loans and leases from GE Wells Fargo said late Monday it bought about $730 million in loans and leases from General Electric. (GE) (WFC) DiFusion Technologies takes aim at surgical infections DiFusion Technologies Inc., a start-up medical device company, is gearing up to launch a flagship product that will target the orthopaedic market at the same time it's raising additional capital. York negotiates 2 deals worth $4M York Property Co. brokered two industrial property sales in Orlando at the end of 2008 totaling $4 million. Peoples Community sale to CenterBank dies CenterBank has pulled out of its deal to buy the branches, deposits and some assets of troubled Peoples Community Bancorp Inc. (IBNK) (PCBI) Congress takes up D.C. voting rights bill A measure to give the District of Columbia voting representation in the House of Representatives was introduced in both the House and Senate Tuesday. Wells Fargo buys loans and leases from GE Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC) Anacor Pharmaceuticals raises $50M in equity financing Anacor Pharmaceuticals Inc. raised $50 million in a preferred stock financing First Southern Bank to get $10.9M in TARP money First Southern Bank has become the first South Florida-based bank to receive preliminary approval to receive money from the federal Troubled Assets Relief Program (TARP). UPS taps Gray as U.S. ops VP United Parcel Service Inc.’s U.S. division is about to get new leadership. UPS taps Gray as U.S. ops VP United Parcel Service Inc.’s U.S. division is about to get new leadership. Altus directors resign Altus Pharmaceuticals Inc. said Tuesday that directors Stewart Hen and Jonathan S. Leff, both general partners with private equity concern Warburg Pincus LLC, have resigned their board seats. Wells Fargo buys loans and leases from GE Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC) VC-backed IPOs fall to 30-year low Initial public offerings by venture-capitalist-backed companies have hit their lowest point in three decades. Anacor Pharmaceuticals raises $50M in equity financing Anacor Pharmaceuticals Inc. said Tuesday it raised $50 million through a preferred stock financing with participation from GlaxoSmithKline, Schering Corp. and existing investors. Mariner Wealth Advisors buys Quantitative Investment Solutions Mariner Wealth Advisors LLC of Leawood has completed its purchase of Quantitative Investment Solutions LLC for an undisclosed amount. Barlow resigns from Molecular Insight board Molecular Insight Pharmaceuticals Inc. announced that former CEO David Barlow has resigned from his post on the board of directors. Barlow cited disagreements with the board over business philosophy, strategy and practice, according to a document filed with the Securities and Exchange Commission. AMC Entertainment completes $315M sale of Mexican subsidiary AMC Entertainment Inc. completed the sale of its Mexican movie theater subsidiary to a Mexican company for $315 million on Dec. 29. Report: Venture capital for IPOs runs dry Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. R.L. Stowe Mills to close R.L. Stowe Mills Inc., one of the country’s oldest textile companies, will close in March. R.L. Stowe Mills to close Belmont-based R.L. Stowe Mills Inc., one of the country’s oldest textile companies, will close in March. Report: VC-backed IPOs fall to 30-year low Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Report: Venture capital for IPOs runs dry Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Kokua Festival put on hold this year There will be no Kokua Festival this year. Man pleads guilty in $2.5M Tacoma lumber firm embezzlement The man who government officials say spearheaded a $2.5 million embezzlement scheme against a Tacoma lumber company pleaded guilty Monday. Wells Fargo buys loans and leases from GE Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC) Twins owner Carl Pohlad dies Twin Cities businessman Carl Pohlad, whose holdings include the Minnesota Twins, United Properties and financial services firm Marquette Financial, has died. Panel to offer economic survival tips A panel of experts will weigh in Friday on strategies local businesses can use to weather the economic storm that dominated 2008 and that many predict will linger well into 2009. Solyndra raises $219 million Solyndra Inc. raised $219.2 million from venture capitalists, according to PE Week Wire, which tracks the private equity market. Countrywide settles predatory lending complaint Countrywide Financial Corp. has agreed to make loan modifications for about 395,000 U.S. mortgage holders and pay $150 million into a foreclosure relief fund to settle predatory lending complaints filed by various states, including Kentucky. United Community Banks ups loan loss provision United Community Banks Inc., Georgia’s third-largest bank, said Monday it will raise its fourth-quarter loan loss reserve in the wake of credit deterioration and current economic conditions, particularly in its metro Atlanta residential construction portfolio. (UCBI) (SNV) Report: VC-backed IPOs fall to 30-year low Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Report: VC-backed IPOs fall to 30-year low Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Renegy gets $12.3M infusion as it restructures Renegy Holdings lands $12.3 million in equity financing, plans for layoffs, delisting Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. Zweifel names Mathers, Robyn, Kuster to Mo. treasurer’s staff Missouri Treasurer-elect Clint Zweifel picked Mark Mathers as his deputy state treasurer, Angie Heffner Robyn as general counsel and director of policy, and Ken Kuster for the temporary position of special adviser to the treasurer. BAE Systems awarded Army contracts worth $115M BAE Systems has received six contracts worth $115 million from the U.S. Army Tank-Automotive and Armaments Command for replacement parts. Grinch pulled back at Citi Center With ticket sales down, The Grinch Who Stole Christmas cancelled three performances at the Wang Theater at the end of the performance season. TU adds weeklies to direct-mail product The Times Union will beef up its Local Values shared-mail product through agreements with two Albany, N.Y., media companies. Venture-backed IPOs last year hit 30-year low Wall Street’s worst performance in decades last year took its toll on venture capitalists. There were no initial public offerings among venture-backed companies and just a “modest” 37 merger transactions involving such companies, the National Venture Capital Association and Thomson Reuters said Monday. (EBAY) Tom James apologizes for auction rate security purchases Clients of Raymond James Financial Inc. have substantially reduced their holdings of auction rate securities. (RJF) Tourism spending down, prices up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. FTRANS pulls in $3M round of funding Atlanta-based FTRANS Corp. has raised $3 million from its current investors. (SNV) (SONE) Tourism spending down, prices up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. You can file for unemployment on a Sunday Pennsylvania has added Sunday hours for its toll-free number to file unemployment claims as it deals with a spike in benefit claims, the state Department of Labor & Industry said. West Virginia bank buying Washington D.C.-based Abigail Adams Premier Financial Bancorp Inc. is buying a Washington, D.C.-based bank for about $10.9 million. (PFBI) (AANB) Tourism spending down, prices up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Tourism spending down, prices up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Tourism spending down, price up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Bulk buyer snags 60 units at Marina Blue A Singer Island-based group has paid nearly $13 million for 60 units at the Marina Blue high-rise across from American Airlines Arena in Miami. Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. MathStar investors urge liquidation Two holders of MathStar Inc. stock have written to chairman and chief executive Douglas Pihl, urging him to liquidate the company. Local Fed branch: Challenges loom in 2009 While the frozen financial markets will seek to thaw out in 2009 – the worsening economic climate will bring about new challenges that could present unanticipated problems, according the Federal Reserve Bank of Atlanta’s latest economic outlook report. Barton Asset Management founder arraigned Former Atlanta investment manager Frederick J. Barton was arraigned Monday before U.S. Magistrate Judge C. Christopher Hagy on charges of defrauding investors of $3 million. Tourism spending down, price up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Report: VC-backed IPOs fall to 30-year low Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Navy Federal commits $6B to mortgages Navy Federal Credit Union plans to commit $6 billion to new mortgages for its members buying a home or refinancing. Smitty’s files for Chapter 11 Smitty’s Building Supply Inc. filed for Chapter 11 bankruptcy protection Monday in the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria. Former Zoës CEO accepts post at Samford Samford University’s Brock School of Business said it has nabbed former Zoës Kitchen CEO John Cassimus as its first Entrepreneur-in-residence. Monaco Coach hires financial adviser Monaco Coach Corp. on Monday said it hired a financial adviser to help improve the struggling recreational vehicle maker’s liquidity. Such announcements normally mean a company is seeking a buyer. (MNC) Tourism spending down, price up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. Credit union to unveil new name Mt. Zion 1st Baptist Federal Credit Union is planning to change its name and logo after more than four decades. PPD buys Merck laboratory in Wayne Merck & Co. Inc. has sold a Wayne, Pa., laboratory to PPD, and PPD will hire 80 Merck employees in a vaccine testing deal between the companies that was announced Monday. (PPD) (MRK) Zoo rated No. 1 for phone recycling The Louisville Zoo’s cell phone recycling program recently was selected as the No. 1 program in the nation by the recycling program ECO-CELL. More than 100 zoos in North America participate in ECO-CELL’s recycling program. Lender repossesses 140 units in WPB Whitney Having sold just one-third of its condos since it started closings in 2007, the developer of the Whitney in West Palm Beach has turned over its remaining units to New York-based lender iStar Financial. VC-backed IPOs hit 30-year low in 2008 Initial public offerings by companies backed by venture capitalists hit a 30-year low in 2008, with just six such IPOs for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. AARP: Economic stress causing health problems One in five adults aged 45 and older are suffering health problems due to financial stress, according to a new survey by AARP. More commercial vacancy seen for Boston Corporate consolidations will lead to an increase in vacant and sublease space in Boston’s commercial buildings, according to a report from Grubb & Ellis Co. Report: VC-backed IPOs fall to 30-year low Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association. Louisville Historical League to meet The Louisville Historical League will hold its 37th annual meeting Sunday, Jan. 18. Mach One tentatively agrees to buy firm Mach One Corp., an Ozaukee County provider of biological testing products for the agricultural and consumer markets, said Monday that it has reached a preliminary agreement to buy Modular Process Constructors LLC, a firm that supplies pharmaceutical companies with processing equipment. Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. The report, released Monday, said venture-backed company exits via acquisitions totaled 260, the first year since 2003 when there were less than 300. Tourism spending down, prices up As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending. Affiliated Managers postpones investment deal Affiliated Managers Group Inc. (NYSE: AMG) said Monday it postponed its acquisition of a majority stake in Harding Loevner LLC, a money manager that had $6 billion in assets under management when the deal was first announced in July. (AMG) Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. CKE adopts stockholder rights plan CKE Restaurants Inc. adopted a one-year stockholder rights plan to better deal with any potential takeover, the parent company of St. Louis-based Hardee's Food Systems Inc. said Monday. (CKR) National City's Denny to lead PNC's Kentucky, Indiana markets With its acquisition earlier this week of National City Bank, PNC Financial Services Group announced Friday that Chuck Denny, former president of National City Bank’s Kentucky and Tennessee market, has been named regional president of PNC’s Kentucky and Indiana market. (PNC) Obama to replace Bill Richardson at Commerce Department President-elect Barack Obama lost a self-proclaimed “pro-business Democrat” from his cabinet when New Mexico Gov. Bill Richardson withdrew his nomination to become Commerce secretary. Navy Federal commits $6B to mortgages Navy Federal Credit Union plans to commit $6 billion to new mortgages for its members buying a home or refinancing. New Century closer to buying Wilhelmlina New Century Equity Holdings Corp. said Monday it’s a step closer to acquiring international modeling agency Wilhelmina International Ltd. Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. The report, released Monday, said venture-backed company exits via acquisitions totaled 260, the first year since 2003 when there were less than 300. Report: Doran settles dispute over Dinkydome development Doran Development has settled a legal dispute that sought to halt the company’s plans to build a mixed-use project at the site of the Dinkydome, according to a Star Tribune report. SciClone investor seeking control of the board SciClone Pharmaceuticals Inc. said Monday that an investor, Defiante Farmaceutica S.A., plans to nominate four candidates for the company's seven-member board. (SCLN) M&T, HSBC plan for growth in ‘09 HSBC Bank USA and M&T Bank Corp. are determined to grow their businesses in 2009. Synovus to increase loan loss provision to $250M Synovus said Friday it expects raise its loan loss reserves in the fourth quarter to cover bad loans, particularly in the Atlanta residential market. (SNV) Venture capital-backed IPOs hit 30-year low in 2008 Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. The report, released Monday, said venture-backed company exits via acquisitions totaled 260, the first year since 2003 when there were less than 300. AARP: Economic stress causing health problems One in five adults aged 45 and older are suffering health problems due to financial stress, according to a new survey by AARP. Banks gear up for major shifts resulting from mergers Coming off one of the toughest years in decades, most local bankers are hoping for a respite from the turmoil in 2009. They probably won’t get it. Air Transport, Regent dodge bullet as Nasdaq puts off $1 price rule A few local public companies can rest easy. They’re not in danger of getting delisted from Nasdaq, at least not for a while. Advisers who rely on asset-based fees feeling the pinch If you think this market has been tough on your investments, you should see what it’s doing to some investment advisers. Business groups praise, pan new credit card rules Small-business groups are divided over rules prohibiting credit card practices that consumers consider abusive. Dan Kenady Dan Kenady offers a ray of light to investors who are frustrated with the market’s plunge. Before federal investment, Fidelity Bank weighed non-performing loans, economy Fidelity Bank chairman Clark Bastian says the bank’s growing number of non-performing loans played a role in its decision to accept an investment under the federal government’s financial rescue plan in late December. Patterson Park nonprofit defaults on $900K in loans The Patterson Park Community Development Corp., which has been working for the past several months to recover from the nationwide housing slump, has defaulted on more than $900,000 in mortgage payments. Financial adviser plans to grow and hire experience Paul Mauro, president of Legacy Financial Advisors Inc., expects his company to be very busy in 2009. Money manager seeks savings and new trends Salem-based Cabot Money Management, which oversees a little less than $400 million in assets, can’t take as many staff as it would like to an upcoming trip in Naples, Fla. Investment bank pushes executives to take action When you’re a small investment bank, cutting a lot of staff is not something you can do. Seattle-area banks cut back their dividends Bracing themselves for at least several more months of economic misery, some community banks across the Puget Sound region are taking the unprecedented step of suspending their quarterly shareholder dividends or slashing them to several cents on the dollar. KC-area bankers say they remain healthy, ready to lend Despite suffering some effects from an overall malaise in the economy, banking executives said they think Kansas City-area banks are healthy and have money to lend. Finance & law: 2008's top stories BofA rescues Countrywide — Jan. 11 In one of the first major events of the subprime mortgage crisis, Bank of America Corp. stepped in to buy struggling Countrywide Financial Corp. for $4 billion in stock. Consultants helping banks assess, manage foreclosed properties Reeling from soured loans originated during the peak of the housing market, regional and national banks are turning to asset consultants to salvage thousands of reclaimed properties throughout the Valley. They hope to turn them into profitable ventures — a difficult task in a frozen credit market. Credit freeze will yield both winners and losers For venture capitalists, 2009 is 2001 all over again. Fund officials seek to speed up process Christopher Calnan \| Austin Business Journal The $200 million Texas Emerging Technology Fund was created to get startup companies capital to get off the ground. Now some officials are proposing the upcoming legislative session as a time to tweak the fund’s policies so such help can get there a little faster. Finance The crystal ball forecast for finance is far from clear — and not very bright. Bloodbath has lawmakers, savers taking a harder look at 401(k) plans Most investors got hosed in 2008, and their rancor could stoke action in Congress to improve 401(k) plans for Americans. Missouri Foundation for Health expects hit from Madoff The Missouri Foundation for Health, the area’s largest charitable foundation, may have an indirect investment exposure to Bernard Madoff’s alleged $50 billion Ponzi scheme. Any loss would be relatively small, however, said Joseph McCarthy, the foundation’s chief financial officer. Banks stung by growing foreclosures Problem loans continue to mount at St. Louis banks, foreshadowing continued losses down the road. Triangle Capital enters 2009 well armed RALEIGH – With nearly $50 million in cash and regulatory approval to raise more capital by selling shares, Triangle Capital Corp. enters 2009 with the wherewithal to continue a rapid pace of growth. Lenders foresee the unforeseen For those trying to maintain the flow of credit to small businesses and homebuyers, 2008 was an unsettling year. If New Mexico fared somewhat better than other states, nerves were perhaps all the more on edge as lenders waited for the other shoe to drop — as it just might in 2009. Jacksonville banks say credit is starting to loosen JACKSONVILLE — In an economy with few guarantees, many banks in the area have chosen to pay the price for full coverage on certain deposits and loans between institutions if it means loosening up the credit markets. Westshore Boulevard projects hammer bank TAMPA — Four loans on commercial properties within two miles of each other on Westshore Boulevard have gone into default, and Bank of America is involved in all either as the lender or through its acquisition of LaSalle Bank. (BAC) 2009 People to Watch in Banking <strong>Ramiro A. Ortiz, CEO and President, BankUnited Financial Corp. </strong> Wells Fargo’s shift to impact real estate credit market The New Year means change for one of the biggest banks operating in Tampa Bay. Wells Fargo & Co. will scale back the commercial real estate lending business it acquired from Wachovia Corp. (WFC) (BAC) Smaller banks could face tough 2009 The effects of the banking industry’s tumultuous 2008 are expected to continue during 2009 and finally reach Texas, a state that has been largely insulated. (WFC) (BAC) Egbert Perry will help fix mortgage giant Fannie Mae Atlanta-based urban developer Egbert Perry has joined the board of troubled mortgage giant Fannie Mae, whose near collapse four months ago threatened to sink America’s housing market. Job growth in Jacksonville health care providers masks ills Jacksonville’s health care industry is projected to be the area’s fastest-growing sector in the coming year. Mergers, job cuts a way to survive for Jacksonville banks Bankers predict continued pain ahead in 2009 after many took a beating from troubled real estate loans in 2008. Banks ready for reforms – but wary The next year could bring a wave of changes to how the financial services industry is regulated, but many in the industry think they can do little more than watch and wait for changes. River City credit union prepares for changing of the guard After almost 23 years of service, Watt Prichard has decided to step down as president and CEO of River City Federal Credit Union. Some banks abandon branch warfare for high-tech offerings Technology is changing the landscape of banking. Banks defy ‘herd,’ say no to federal stock plan In recent months, banks across the state have flooded federal bank regulators and the U.S. Treasury with applications for direct government stock investment. Bankers expect a year of living painfully Bankers and their borrowers are going to be in a great deal of pain this year. Cash is life in the life sciences Cash is king, and life sciences companies expecting to survive 2009 better have lots of it. Birmingham Economic Forecast: Venture capital While the flow of venture capital dollars into Alabama businesses remained steady in 2008, local experts believe the slumping economy could put a damper on seed money for growing companies next year. Birmingham Economic Forecast: Banking Over the past three years, Birmingham’s banking scene has been hit with a wave of changes, including a roller coaster ride of buyouts and a rash of new banks entering the market to cash in on merger-weary customers. Venture capitalists gloomy about 2009 Like all financial sectors, venture capital is facing its most challenging period in decades. Businesses face challenges in keeping dwindling pension plans afloat Some businesses already worried about making payroll in a shrinking economy are now struggling with how to fund pensions and other retirement benefits, including 401(k)s. Fixing credit woes to take center stage This year, Colorado lawmakers are expected to do what they can to address a credit freeze that’s jammed the world’s economic gears. Wycoff, Lynch and Lubert fund starts investing in banks When Kirk Wycoff and Jim Lynch left the banking world in July 2007 to become managing partners in a private equity fund that invests in underperforming banks, they envisioned about 5,700 banks nationwide that fit their investment criteria. The plan was to invest in underperforming banks with up to $5 billion in assets, raising their value and holding investments for five-to-seven years. Executive of the Year Banker Tom Meuser deserves accolades for something few of his colleagues can claim — avoiding a disaster by staying the course. Financial crisis hits high-flying Dubai Then Date: March 28, 2008 Special Section: Dateline Dubai: Inside the Houston UAE-Qatar connection How to: Evaluate franchise opportunities When evaluating potential franchisees for its hair salons, Fantastic Sams Franchise Corp. looks for entrepreneurs who recognize the value of following a proven model for success. Two tech businesses expanding their payrolls Two Watervliet manufacturers will double their work force to increase production and meet the needs of existing customers. 10 To Watch: Mark DeWeese GRAHAM — To say 2008 has been rough for Triad home builders is probably being generous. Mark DeWeese, president of Empire Homes in Graham, knows that as well as anyone. 10 To Watch: Dr. John D. McConnell WINSTON-SALEM — For the first time in its 86-year history, all 11,500-plus staff members at the Triad’s largest employer have one leader to follow. 10 To Watch: Dennis ‘Denny’ Slagle GREENSBORO — Playing football in high school and college, Denny Slagle says his coaches told him to hit his opponent “like a Mack truck.” 10 To Watch: Tom Smith GREENSBORO — Nobody told Tom Smith before he got started that organizing the proposed The Gate City’s Community Bank would be easy. But back in February of 2008 when the plans were first announced, few might have predicted it would be quite so hard, either. More losses in the cards at BofA, analysts predict In credit cards, no one is bigger than Bank of America Corp.

Investing guide

What Is Diversification?

What Is Diversification?
By [http://ezinearticles.com/?expert=Bill_Stone]Bill Stone

If you've been looking into options for stock market investment, you might have heard several mentions about diversification and its importance to making good investments. Unfortunately, if you're not really sure what diversification is or how to go about it, you might end up missing out on one of the best tools that you can have for making sound investments that are better protected against the fluctuations of the stock market. The information below is designed to give you a better understanding of what diversification is, why it should be important to you and your investments, and simply ways that you can diversify your stock portfolio.

Defining Diversification

The first step to creating a diversified stock portfolio is understanding exactly what diversification is. In essence, diversification is the process of purchasing stocks, bonds, and other investments from a variety of different companies and funds so that you have a representation of different industries and market sectors in your stock portfolio. This diversity of stocks and other investments allows you to not worry as much about individual stocks and how they perform, because your overall investment portfolio will not be as negatively affected by the fluctuations of specific investments.

A Well-Rounded Portfolio

In order to create a diverse portfolio, it's important that you take a moment to understand the way that the stock market is divided into different sectors and industries so that you can make investments in a variety of them. Different types of businesses, such as biotechnologies or the lumber industry, will have stocks and other investment pieces that will fluctuate in value at different times. Often the drop in value of one particular sector will cause an increase in value in another sector. By in a variety of these different sectors and industries, you'll be able to ride these fluctuations with more ease because you'll experience the increase in some sectors at the same time as the decrease in others.

Why You Should Diversify

Though you're not required to diversify your investments, it's generally recommended if you're planning on making any serious long-term investments or are planning for retirement or wanting to supplement your savings. Diversification can not only help you to even out your investment experience and protect you from sector or industry-wide drops in value, but it can also set you up

Texans CU president resigns
The president and chief executive officer of Texans Credit Union has resigned, effective Jan. 31, as the nonprofit organization struggles with bad business loans and the same economic forces that have hurt large banks in recent months.
Artison fund managers win Morningstar honor
Artison Partners of Milwaukee said Tuesday that portfolio co-managers David Samra and Daniel O’Keefe have been named Morningstar's International-Stock Fund Manager of the Year for 2008 for their management of the Artisan International Value Fund.
Maierhofer joins McCarthy Capital
Scott Maierhofer, formerly co-president of Green Manning & Bunch, has joined McCarthy Capital as a partner, the company said Tuesday. (COBZ)
BofA CEO recommends top brass get no bonuses
Bank of America CEO Ken Lewis said in a memo to employees Tuesday that he’s recommending the board not award 2008 bonuses to himself and other senior executives.
InFocus investor snaps up shares
An investor who’s been accumulating shares of InFocus Corp. has just added to his holdings. (INFS)
Wells Fargo buys loans and leases from GE
Wells Fargo & Co. said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC)
BofA CEO recommends top brass get no bonuses
Bank of America CEO Ken Lewis said in a memo to employees Tuesday that he’s recommending the board not award 2008 bonuses to himself and other senior executives. (BAC)
Bederra OKs stock split
The board of Bederra Corp. has approved a reverse split of its common stock.
Wells Fargo buys $730M in loans, leases from GE
Wells Fargo & Co. has purchased $730 million in loans and leases from General Electric Co. (WFC) (GE)
DiNapoli: NY’s future tied to Wall St.
State Comptroller Thomas DiNapoli dismisses concerns that Wall Street will never be the same whenever the unrelenting shake-up on the markets comes to an end.
Procter & Gamble products to be spotlighted in Web series
Procter & Gamble Co. will integrate several products into a Web series that will run online in February and during the NCAA men’s basketball tournament in March, according to <em>Brandweek</em> . (PG)
Stock Yards won’t participate in TARP
S.Y. Bancorp Inc., parent company of Stock Yards Bank & Trust Co., will not participate in the U.S. Treasury Department’s Capital Purchase Program. (SYBT)
Transwestern adds nearly 900,000 s.f. to management portfolio
The Austin office of commercial real estate firm Transwestern has taken on nearly 900,000 square feet of new property management assignments.
Procter & Gamble products to be spotlighted in Web series
Procter & Gamble Co. will integrate several products into a Web series that will run online in February and during the NCAA men’s basketball tournament in March, according to <em>Brandweek</em> . (PG)
Bank of Oak Ridge capital plan approved
Oak Ridge Financial Services has received preliminary approval to sell $7.7 million worth of preferred stock and warrants to the U.S. government under the Capital Purchase Plan. (BKOR)
Widgetmaker Clearspring makes cuts
Clearspring Technologies Inc. is the latest local tech company to reveal it has reduced its headcount.
Wells Fargo buys loans and leases from GE
Wells Fargo said late Monday it bought about $730 million in loans and leases from General Electric. (GE) (WFC)
Council Ventures names new partner
Investor Grant Jackson has been named a general partner at Council Ventures, a Nashville venture firm focused on the convergence of health care and financial services.
Panelists: Alabama's economy to weather storm
With a rough 2008 behind us, many will be relieved to know that the “worst of the worst” is over and Alabama’s economy is prepared to ride out the storm, a panel of experts said Tuesday morning.
Fidelity hires ex-Evergreen CEO
Fidelity Investments said it hired Peter Cieszko, former CEO of Evergreen Investments, as president of its institutional services operations, which manage $272 billion in assets.
Dow Chemical taking legal action in failed Kuwaiti venture
Dow Chemical said Tuesday that it will take legal action in hopes of forcing the Petrochemical Industries Co. of Kuwait to go through with a joint venture with Dow. (DOW) (ROH)
Report: Economic recovery a year away
Florida lost more than 150,000 jobs in the past 12 months and it’s only the beginning, said a report by Attorneys’ Title Insurance Fund.
HUD grant to support SAHA jobs program
The San Antonio Housing Authority (SAHA) has received a $97,853 grant from the U.S. Housing and Urban Development for its Housing Choice Voucher Family Self-Sufficiency Program.
Elliott takes new role with Bowling Green chamber
R. Marc Elliott, former executive director of the River Ridge Commerce Center in Clark County, has been named vice president for property development and public policy for the Bowling Green Area Chamber of Commerce.
Wells Fargo buys loans and leases from GE
Wells Fargo late Monday said it purchased about $730 million in loans and leases from General Electric. (GE) (WFC)
Wells Fargo buys loans and leases from GE
Wells Fargo said late Monday it bought about $730 million in loans and leases from General Electric. (GE) (WFC)
DiFusion Technologies takes aim at surgical infections
DiFusion Technologies Inc., a start-up medical device company, is gearing up to launch a flagship product that will target the orthopaedic market at the same time it's raising additional capital.
York negotiates 2 deals worth $4M
York Property Co. brokered two industrial property sales in Orlando at the end of 2008 totaling $4 million.
Peoples Community sale to CenterBank dies
CenterBank has pulled out of its deal to buy the branches, deposits and some assets of troubled Peoples Community Bancorp Inc. (IBNK) (PCBI)
Congress takes up D.C. voting rights bill
A measure to give the District of Columbia voting representation in the House of Representatives was introduced in both the House and Senate Tuesday.
Wells Fargo buys loans and leases from GE
Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC)
Anacor Pharmaceuticals raises $50M in equity financing
Anacor Pharmaceuticals Inc. raised $50 million in a preferred stock financing
First Southern Bank to get $10.9M in TARP money
First Southern Bank has become the first South Florida-based bank to receive preliminary approval to receive money from the federal Troubled Assets Relief Program (TARP).
UPS taps Gray as U.S. ops VP
United Parcel Service Inc.’s U.S. division is about to get new leadership.
UPS taps Gray as U.S. ops VP
United Parcel Service Inc.’s U.S. division is about to get new leadership.
Altus directors resign
Altus Pharmaceuticals Inc. said Tuesday that directors Stewart Hen and Jonathan S. Leff, both general partners with private equity concern Warburg Pincus LLC, have resigned their board seats.
Wells Fargo buys loans and leases from GE
Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC)
VC-backed IPOs fall to 30-year low
Initial public offerings by venture-capitalist-backed companies have hit their lowest point in three decades.
Anacor Pharmaceuticals raises $50M in equity financing
Anacor Pharmaceuticals Inc. said Tuesday it raised $50 million through a preferred stock financing with participation from GlaxoSmithKline, Schering Corp. and existing investors.
Mariner Wealth Advisors buys Quantitative Investment Solutions
Mariner Wealth Advisors LLC of Leawood has completed its purchase of Quantitative Investment Solutions LLC for an undisclosed amount.
Barlow resigns from Molecular Insight board
Molecular Insight Pharmaceuticals Inc. announced that former CEO David Barlow has resigned from his post on the board of directors. Barlow cited disagreements with the board over business philosophy, strategy and practice, according to a document filed with the Securities and Exchange Commission.
AMC Entertainment completes $315M sale of Mexican subsidiary
AMC Entertainment Inc. completed the sale of its Mexican movie theater subsidiary to a Mexican company for $315 million on Dec. 29.
Report: Venture capital for IPOs runs dry
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
R.L. Stowe Mills to close
R.L. Stowe Mills Inc., one of the country’s oldest textile companies, will close in March.
R.L. Stowe Mills to close
Belmont-based R.L. Stowe Mills Inc., one of the country’s oldest textile companies, will close in March.
Report: VC-backed IPOs fall to 30-year low
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Report: Venture capital for IPOs runs dry
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Kokua Festival put on hold this year
There will be no Kokua Festival this year.
Man pleads guilty in $2.5M Tacoma lumber firm embezzlement
The man who government officials say spearheaded a $2.5 million embezzlement scheme against a Tacoma lumber company pleaded guilty Monday.
Wells Fargo buys loans and leases from GE
Wells Fargo said late Monday that it purchased about $730 million in loans and leases from General Electric. (GE) (WFC)
Twins owner Carl Pohlad dies
Twin Cities businessman Carl Pohlad, whose holdings include the Minnesota Twins, United Properties and financial services firm Marquette Financial, has died.
Panel to offer economic survival tips
A panel of experts will weigh in Friday on strategies local businesses can use to weather the economic storm that dominated 2008 and that many predict will linger well into 2009.
Solyndra raises $219 million
Solyndra Inc. raised $219.2 million from venture capitalists, according to PE Week Wire, which tracks the private equity market.
Countrywide settles predatory lending complaint
Countrywide Financial Corp. has agreed to make loan modifications for about 395,000 U.S. mortgage holders and pay $150 million into a foreclosure relief fund to settle predatory lending complaints filed by various states, including Kentucky.
United Community Banks ups loan loss provision
United Community Banks Inc., Georgia’s third-largest bank, said Monday it will raise its fourth-quarter loan loss reserve in the wake of credit deterioration and current economic conditions, particularly in its metro Atlanta residential construction portfolio. (UCBI) (SNV)
Report: VC-backed IPOs fall to 30-year low
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Report: VC-backed IPOs fall to 30-year low
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Renegy gets $12.3M infusion as it restructures
Renegy Holdings lands $12.3 million in equity financing, plans for layoffs, delisting
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association.
Zweifel names Mathers, Robyn, Kuster to Mo. treasurer’s staff
Missouri Treasurer-elect Clint Zweifel picked Mark Mathers as his deputy state treasurer, Angie Heffner Robyn as general counsel and director of policy, and Ken Kuster for the temporary position of special adviser to the treasurer.
BAE Systems awarded Army contracts worth $115M
BAE Systems has received six contracts worth $115 million from the U.S. Army Tank-Automotive and Armaments Command for replacement parts.
Grinch pulled back at Citi Center
With ticket sales down, The Grinch Who Stole Christmas cancelled three performances at the Wang Theater at the end of the performance season.
TU adds weeklies to direct-mail product
The Times Union will beef up its Local Values shared-mail product through agreements with two Albany, N.Y., media companies.
Venture-backed IPOs last year hit 30-year low
Wall Street’s worst performance in decades last year took its toll on venture capitalists. There were no initial public offerings among venture-backed companies and just a “modest” 37 merger transactions involving such companies, the National Venture Capital Association and Thomson Reuters said Monday. (EBAY)
Tom James apologizes for auction rate security purchases
Clients of Raymond James Financial Inc. have substantially reduced their holdings of auction rate securities. (RJF)
Tourism spending down, prices up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
FTRANS pulls in $3M round of funding
Atlanta-based FTRANS Corp. has raised $3 million from its current investors. (SNV) (SONE)
Tourism spending down, prices up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
You can file for unemployment on a Sunday
Pennsylvania has added Sunday hours for its toll-free number to file unemployment claims as it deals with a spike in benefit claims, the state Department of Labor & Industry said.
West Virginia bank buying Washington D.C.-based Abigail Adams
Premier Financial Bancorp Inc. is buying a Washington, D.C.-based bank for about $10.9 million. (PFBI) (AANB)
Tourism spending down, prices up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Tourism spending down, prices up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Tourism spending down, price up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Bulk buyer snags 60 units at Marina Blue
A Singer Island-based group has paid nearly $13 million for 60 units at the Marina Blue high-rise across from American Airlines Arena in Miami.
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association.
MathStar investors urge liquidation
Two holders of MathStar Inc. stock have written to chairman and chief executive Douglas Pihl, urging him to liquidate the company.
Local Fed branch: Challenges loom in 2009
While the frozen financial markets will seek to thaw out in 2009 – the worsening economic climate will bring about new challenges that could present unanticipated problems, according the Federal Reserve Bank of Atlanta’s latest economic outlook report.
Barton Asset Management founder arraigned
Former Atlanta investment manager Frederick J. Barton was arraigned Monday before U.S. Magistrate Judge C. Christopher Hagy on charges of defrauding investors of $3 million.
Tourism spending down, price up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Report: VC-backed IPOs fall to 30-year low
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Navy Federal commits $6B to mortgages
Navy Federal Credit Union plans to commit $6 billion to new mortgages for its members buying a home or refinancing.
Smitty’s files for Chapter 11
Smitty’s Building Supply Inc. filed for Chapter 11 bankruptcy protection Monday in the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria.
Former Zoës CEO accepts post at Samford
Samford University’s Brock School of Business said it has nabbed former Zoës Kitchen CEO John Cassimus as its first Entrepreneur-in-residence.
Monaco Coach hires financial adviser
Monaco Coach Corp. on Monday said it hired a financial adviser to help improve the struggling recreational vehicle maker’s liquidity. Such announcements normally mean a company is seeking a buyer. (MNC)
Tourism spending down, price up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association.
Credit union to unveil new name
Mt. Zion 1st Baptist Federal Credit Union is planning to change its name and logo after more than four decades.
PPD buys Merck laboratory in Wayne
Merck & Co. Inc. has sold a Wayne, Pa., laboratory to PPD, and PPD will hire 80 Merck employees in a vaccine testing deal between the companies that was announced Monday. (PPD) (MRK)
Zoo rated No. 1 for phone recycling
The Louisville Zoo’s cell phone recycling program recently was selected as the No. 1 program in the nation by the recycling program ECO-CELL. More than 100 zoos in North America participate in ECO-CELL’s recycling program.
Lender repossesses 140 units in WPB Whitney
Having sold just one-third of its condos since it started closings in 2007, the developer of the Whitney in West Palm Beach has turned over its remaining units to New York-based lender iStar Financial.
VC-backed IPOs hit 30-year low in 2008
Initial public offerings by companies backed by venture capitalists hit a 30-year low in 2008, with just six such IPOs for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association.
AARP: Economic stress causing health problems
One in five adults aged 45 and older are suffering health problems due to financial stress, according to a new survey by AARP.
More commercial vacancy seen for Boston
Corporate consolidations will lead to an increase in vacant and sublease space in Boston’s commercial buildings, according to a report from Grubb & Ellis Co.
Report: VC-backed IPOs fall to 30-year low
Initial public offerings by companies backed by venture capitalists hit their lowest point in three decades, according to a new report by Thomson Reuters and the National Venture Capital Association.
Louisville Historical League to meet
The Louisville Historical League will hold its 37th annual meeting Sunday, Jan. 18.
Mach One tentatively agrees to buy firm
Mach One Corp., an Ozaukee County provider of biological testing products for the agricultural and consumer markets, said Monday that it has reached a preliminary agreement to buy Modular Process Constructors LLC, a firm that supplies pharmaceutical companies with processing equipment.
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. The report, released Monday, said venture-backed company exits via acquisitions totaled 260, the first year since 2003 when there were less than 300.
Tourism spending down, prices up
As the economy spiraled into disarray in the third quarter of 2008, Americans cut back sharply on tourism and travel spending.
Affiliated Managers postpones investment deal
Affiliated Managers Group Inc. (NYSE: AMG) said Monday it postponed its acquisition of a majority stake in Harding Loevner LLC, a money manager that had $6 billion in assets under management when the deal was first announced in July. (AMG)
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, with just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association.
CKE adopts stockholder rights plan
CKE Restaurants Inc. adopted a one-year stockholder rights plan to better deal with any potential takeover, the parent company of St. Louis-based Hardee's Food Systems Inc. said Monday. (CKR)
National City's Denny to lead PNC's Kentucky, Indiana markets
With its acquisition earlier this week of National City Bank, PNC Financial Services Group announced Friday that Chuck Denny, former president of National City Bank’s Kentucky and Tennessee market, has been named regional president of PNC’s Kentucky and Indiana market. (PNC)
Obama to replace Bill Richardson at Commerce Department
President-elect Barack Obama lost a self-proclaimed “pro-business Democrat” from his cabinet when New Mexico Gov. Bill Richardson withdrew his nomination to become Commerce secretary.
Navy Federal commits $6B to mortgages
Navy Federal Credit Union plans to commit $6 billion to new mortgages for its members buying a home or refinancing.
New Century closer to buying Wilhelmlina
New Century Equity Holdings Corp. said Monday it’s a step closer to acquiring international modeling agency Wilhelmina International Ltd.
Venture capital-backed IPOs hit 30-year low in 2008
Initial public offerings by companies across the country backed by venture capitalists hit a 30-year low in 2008, just six for the year and none in the fourth quarter, according to a report by Thomson Reuters and the National Venture Capital Association. The report, released Monday, said venture-backed company exits via acquisitions totaled 260, the first year since 2003 when there were less than 300.
Report: Doran settles dispute over Dinkydome development
Doran Development has settled a legal dispute that sought to halt the company’s plans to build a mixed-use project at the site of the Dinkydome, according to a Star Tribune report.
SciClone investor seeking control of the board
SciClone Pharmaceuticals Inc. said Monday that an investor, Defiante