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| Asarco asks judge: Order exec to appear BROWNSVILLE, Texas — A last-minute decision not to call Grupo Mexico's top officials to the witness stand incensed attorneys for Asarco LLC, who on Monday asked a judge to order CEO Germán Larrea to appear. |
| SW Gas reports reduction in rates In an era of relentlessly rising energy costs, Southwest Gas Corp. said it has reduced rates for its 958,000 natural-gas customers in Arizona. |
| Sterlite-Asarco deal not yet solid Despite an agreement between Asarco LLC and India-based Sterlite Industries Ltd., the sale of the Tucson-based mining company is not quite a done deal. |
| Real Estate by Christie Smythe: Precise data on market aids realty agents Housing news hasn't gotten any less grim, but some real estate agents are trying to keep the Tucson market from being painted in gloom and doom with a broad statistical brush. |
| Calif. utility to press powerline route SoCal Edison can ask to bypass Arizona's denial of a interstate transmission line. |
| New student complex opens A new student-housing complex north of Downtown is holding its grand opening today. |
| Raytheon wins guided-munition contract Raytheon Missile Systems was awarded an $85 million contract for Excalibur guided projectiles. |
| Study: Arizona short of nurses, but Pima County not so bad The number of registered nurses in Pima County exceeds the national average, but there is still a critical shortage here that could affect the quality of health care in years to come, an Arizona Hospital and Healthcare Association study finds. |
| Judge orders Grupo Mexico CEO to take stand in Asarco trial BROWNSVILLE, Texas — A federal judge ordered this morning that the head of a Mexico City conglomerate that once controlled Tucson-based Asarco LLC must take the stand at trial. |
| Raytheon executive from Mass. to replace Francesconi in Tucson Louise L. Francesconi, president of Tucson-based Raytheon Missile Systems, announced Monday she is retiring this fall after working more than three decades for the world's largest missile maker. |
| My opinion Paul Krugman : There's no need to raise rates because inflation is in check Which decade is it, anyway? Not long ago it seemed as if everyone watching the carnage in financial markets was drawing scary parallels with the 1930s. |
| Greasy pizza, cheese-steak legend dies at age 78 Tony Giorgianni, the owner of Greasy Tony's restaurant, and the man who made the "Trash Can" sound appetizing, has died. |
| Judge: Town can't enforce law restricting day laborers PHOENIX — A federal judge on Monday issued a temporary order blocking the town of Cave Creek from enforcing a law aimed at stopping day laborers from gathering on streets to look for work. |
| Town, developer to share revenue Oro Valley's largest shopping center is set to open in just a few months. |
| Real estate Tucson's recent commercial sales and leases LEASES |
| Dale Dauten: Our most successful innovators learn from their failures 'Every leader in charge of a P&L has to make innovation happen, even if the company lacks a culture of innovation. I'll go further, and ask of middle managers reading this: Are you actively involved in one or more innovation-centered growth projects? If not, you should be worried, because you will be left behind or risk obsolescence." |
| GM closing four plants Tue, 03 Jun 2008 05:56:24 MST The closing of truck, SUV plants hasten shift to smaller vehicles as fuel prices surge. |
| Southwest Gas announces rate cut in Ariz. Tue, 03 Jun 2008 10:54:12 MST The company reduced rates by $65.2 million. |
| APS seeks to modify request for a rate hike Tue, 03 Jun 2008 00:00:00 MST Rate-hike request revised with state regulators. |
| Battle lines drawn about Asarco's sale Mon, 02 Jun 2008 17:43:20 MST Grupo Mexico said it would fight the proposed sale of the Tucson copper producer to one of India's largest mining companies. |
| Group launches effort to rebrand region Tue, 03 Jun 2008 00:00:00 MST Changes to Valley's economic and cultural identity |
| CEO, mortgage lender Scott M. Coles is dead at 48 Mon, 02 Jun 2008 19:50:31 MST Chairman and CEO of Phoenix-based Mortgages Ltd. dies |
| Travelers without visas required to register Mon, 02 Jun 2008 18:13:52 MST Visitors must register in advance to enter U.S. |
| Arizona entered recession in 07, index suggests Mon, 02 Jun 2008 16:20:18 MST Arizona appears to have entered a mild recession in the fall of 2007, concludes Arizona State University's Tom Rex after seeing the latest Arizona Business Conditions Index. |
| Plans for 500-mile-long power line announced Mon, 02 Jun 2008 17:06:43 MST Plans for 500-mile-long power line announced |
| Limelight shares close up for 2nd straight day Mon, 02 Jun 2008 17:11:57 MST Shares of Limelight Networks Inc. closed up more than 10 percent for the second consecutive day. |
| Business center honors minority entrepreneurs Mon, 02 Jun 2008 17:18:49 MST Business center honors minority entrepreneurs |
| Scottsdale No. 9 on 'NY Times' Places to Go list Mon, 02 Jun 2008 17:28:19 MST Downtown Scottsdale cracked the Top 10 this week in The New York Times' 31 Places to Go This Summer. |
| GM closing 4 truck, SUV plants in North America WILMINGTON, Del. (AP) -- General Motors is closing four truck and SUV plants in the U.S., Canada and Mexico, affecting 10,000 workers, as surging fuel prices hasten a dramatic shift to smaller vehicles.... |
| Inflation moves up on Bernanke's worry list WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke has moved inflation up on his list of worries, suggesting the time for cutting interest rates is over in view of soaring oil and commodity prices and a weakened dollar.... |
| Toll Brothers swings to hefty 2Q loss on write-downs PHILADELPHIA (AP) -- Luxury-home builder Toll Brothers Inc. on Tuesday posted a second-quarter loss that was smaller than Wall Street expected, as a hefty write-down driven by joint ventures was offset by other income.... |
| Technical problems plague Nordic markets STOCKHOLM, Sweden (AP) -- Technical problems paralyzed the Nasdaq OMX Nordic stock markets for up to 7 hours in some countries Tuesday, freezing trades in Sweden, Denmark, Finland, Iceland and in the Baltic region.... |
| ResCap says needs more liquidity NEW YORK (AP) -- Residential Capital LLC, the mortgage lending unit of GMAC LLC, said Tuesday it needs more than three times more cash to stay in business than it estimated just weeks ago.... |
| Limelight Networks' stock price rising Mon, 02 Jun 2008 15:24:20 -0700
Limelight Networks Inc., the Tempe-based technology company that provides online content-delivery services for Microsoft Corp., Amazon.com, and a slew of other businesses, has seen its stock rise significantly in the last several days.
Today its shares closed up 13.1 percent at $3.81. On Friday, its shares closed up 12.3 percent at $3.37.
The company, which stores multimedia content such as videos and music files for its customers and then delivers it to consumers who download the content online, has not reported any major news in the last few days.
However, management has provided investors with more clarity regarding how a patent lawsuit with a major competitor might impact its business if the end decision is unfavorable.
Akamai Technologies Inc. is seeking a permanent injunction against Limelight for infringing patented technology the Massachusetts company licenses.
A judge could decide whether to grant Akamai the injunction at a June 18 court hearing. The infringing portion of Limelight's content-delivery business is pegged at about 50 percent of its overall revenue, according to executives.
Limelight has filed a motion opposing Akamai's request for an injunction. In February, a U.S. District Court for the District of Massachusetts ordered Limelight to pay Akamai $45.5 million in damages, but both companies are filing post-trial motions to determine whether that decision with stick.
Limelight, which is approaching the one-year anniversary of its high-profile IPO, has seen stock price drop dramatically in the last year because of the Akamai litigation, missed sales projections and other perceived risks facing content-delivery network companies.
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| Local tech groups merge Mon, 02 Jun 2008 11:49:08 -0700 Since taking over as president and CEO of the Arizona Technology Council about six months ago, Steven Zylstra has been saying mergers and alliances will be key to growing the Phoenix-based trade group's presence in the state. That activity seems to be taking shape with the announcement that the Aerospace, Manufacturing and Information Technology Cluster of Southern Arizona has merged with the council. Under the merger, AMIT is now serving as the Arizona Technology Council's Tucson office. AMIT Executive Director Justin Williams will continue serving as director of that office. Both groups expect the consolidation to help them provide more resources to their combined members and be a more powerful lobbier on legislative issues pertaining to the tech industry. The Arizona Technology Council represents about 500 member companies and associations. AMIT represents about 800 companies and 15,000 professionals, mainly in southern Arizona. Zylstra, who helped run various technology groups in Arizona in the 1990s before leaving to run the Pittsburgh Technology Council in 2000 for seven years, conducted a report last year for the Arizona Technology Council about options the group had for growing its base by partnering with other local tech organizations. The study singled out the Arizona BioIndustry Association and the Southern Arizona Technology Council as potential merger partners. Other local trade groups have merged in the last year, including the BioIndustry Association of Southern Arizona into the Arizona BioIndustry Association and the Arizona Association of Industries into the Arizona Chamber of Commerce and Industry. In another effort to boost its presence, the Arizona Technology Council recently unveiled a revamped Web site. |
Foreclosure help needed at state level, new Arizona hotline key Mon, 02 Jun 2008 15:26:43 -0700Many states have stepped up efforts to help people with subprime or bad loans facing foreclosures since federal help has been slower than expected.Arizona homeowners facing foreclosure and looking for help can now call a local hotline. The new number (877)448-1211 will route callers to state housing agencies offering foreclosure-prevention counseling.Some struggling Arizona homeowners had trouble finding help through the national hotline 888-995-HOPE. Different foreclosure laws among the states and language barriers were part of the problem.But some state efforts to help homeowners are stalling in other parts of the country. Minnesota legislation that would have required a one-year moratorium on foreclosures so borrowers had more time to seek help or to get their loans modified was just vetoed by Gov. Tim Pawlenty.He believes the bill would have made mortgages more expensive and difficult to get in Minnesota. Pawlenty cites almost a dozen other bills that have recently passed as examples of how Minnesota is working on its foreclosure problem. |
| What's wrong with photo traffic enforcement? Tue, 03 Jun 2008 10:06:10 -0700 The City of Phoenix is thinking about expanding its use of photo technology to enforce traffic laws. This always sets the teeth of populist conservatives on edge, for reasons that are not apparent. Some argue that photo traffic enforcement is not effective, although the evidence points in the other direction. But the opposition hits an emotional chord that goes beyond the empirical case. Some see incipient big-brotherism in photo enforcement of traffic laws, but this also seems far-fetched. The cameras snap at a point in time in which an infraction is being committed. Hard to see that as a great invasion of privacy or the tipping point on a slippery slope toward 1984. Some see photo traffic enforcement as motivated by revenue, and that's a legitimate concern. A free society doesn't want law enforcement to be profit-motivated. That's why asset forfeitures should go to general funds, not to revolving accounts controlled by law enforcement officials. However, hard to see that as a big problem in photo traffic enforcement. Napolitano has suggested that big money can be made from posting cameras on state highways, but when legislative budgeteers kicked the projections they proved highly inflated. For the most part, the money isn't that large and the infractions pretty cut-and-dried -- not a lot of opportunity for abuse of discretion. Instead, the opposition seems to be rooted in a sense that photo traffic enforcement is just unfair. That if you are to get a traffic ticket, a real cop should have to catch you. That using cameras is cheating. Given the carnage on our streets, this view that traffic laws are a game is highly unfortunate. Technology permits traffic safety laws to be more fully enforced, and accidents reduced, while freeing up real cops to do other important public safety activities. There really isn't a good argument against using it. |
| How to win the anti-virus program game Mon, 02 Jun 2008 14:32:29 -0700 One of the enduring childhood games is "Simon Says." The object of the game is to advance to the finish line by listening to instructions and determining whether Simon says them or not. |
| Business Briefs (6/4) Mon, 02 Jun 2008 12:09:21 -0700 BAR School of Athletic Performance Ahwatukee Foothills fitnesss center The BAR Fitness begins its summer program this week to engage young athletes in sport-specific training. |
| U.S. Bancorp completes deal for Mellon 1st Business Bank Mon, 02 Jun 2008 22:12:54 GMT U.S. Bank National Association, the lead bank of Minneapolis-based U.S. Bancorp., on Monday acquired Mellon 1st Business Bank in California. (USB) (BK) |
| Atlantic Southern enters state with local branch Mon, 02 Jun 2008 04:00:00 GMT JACKSONVILLE -- Atlantic Southern Bank is determined to dip into the area's growth either through its local longtime banking executives or by attracting baby boomers through its new spokesman, Davy Jones from the 1960s pop group The Monkees. (ASFN) |
| Is American Community on track with major investor? Mon, 02 Jun 2008 04:00:00 GMT After pushing for significant changes at American Community Bancshares Inc.'s annual meeting last year and later in an open letter, Miami investor Marvin Braun left this year's meeting on a better note. Sort of. |
| Foreclosures hit the bottom line at banks Mon, 02 Jun 2008 04:00:00 GMT Dramatic downturns in the financial and real estate industries in the past year are showing up on the income statements and balance sheets of community banks based in the Tampa Bay area. |
| Bill lets banks sell new product Mon, 02 Jun 2008 04:00:00 GMT Community banks in Florida would be protected against losses from loan defaults under a measure that cleared the 2008 session of the state legislature. |
| Legislation could transform credit union industry Mon, 02 Jun 2008 04:00:00 GMT Controversial proposals on Capitol Hill are pitting banks and credit unions against each other. Representatives from each industry offered comments on the elimination of tax exemptions for large credit unions and increasing the cap on credit unions' business lending from 12.25 to 20 percent of assets. |
| Red Mountain plans $10M private stock sale Mon, 02 Jun 2008 04:00:00 GMT Red Mountain Bank plans to raise $10 million by selling a number of shares via a private stock offering. |
| Credit unions' future now on chopping block? Mon, 02 Jun 2008 04:00:00 GMT A U.S. Treasury Department proposal could sound the death knell for credit unions. |
| Community banks preparing for Capital One's new debit debut Mon, 02 Jun 2008 04:00:00 GMT Volunteer State Bank is one of the first community banks to launch a pre-emptive strike to protect itself from the latest offering from banking giant Capital One. |
| Bad loans made by 4 lenders cost SBA $329 million Mon, 02 Jun 2008 04:00:00 GMT Lax oversight led to $329 million in losses for the Small Business Administration on loans made by four lenders, according to a report by the agency's inspector general. |
| First Banks forecasts first quarter loss Mon, 02 Jun 2008 04:00:00 GMT First Banks Inc., which recently disclosed that it overstated net income by $11.1 million over three years due to irregularities in its mortgage division, says it expects to post a net loss of $5.5 million for its most recent quarter. |
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