Business

36 Million Acres for Oil and Gas Development; March 17 Sale Could Produce up to 1.3 Billion Barrels of Oil

November 13, 2009 -- WASHINGTON, D.C. – Secretary of the Interior Ken Salazar today announced the Department will hold an oil and natural gas lease sale for the Central Gulf of Mexico Outer Continental Shelf that will offer nearly 36 million acres and could produce up to 1.3 billion barrels of oil and 5.4 trillion cubic feet of natural gas.    » read more »

November 12, 2009 -- The Miami Division of the Federal Bureau of Investigation (FBI) and the Miami Field Office of the Internal Revenue Service (IRS) are seeking information from individuals who have invested in the Rothstein Structured Settlement Investment (RSSI) or from individuals who have information that would be helpful to the investigation. To facilitate information gathering, the FBI has established a dedicated e-mail address and an informational telephone line 1-800-CALL-FBI, "Rothstein Option."

Details of the investigation cannot be discussed at this time, as the investigation is ongoing. However, the FBI and IRS are seeking to identify victims and to obtain any information to determine the extent of any potential fraud.    » read more »

Dobbs No Longer Fanning the Flames of Hate at CNN

November 12, 2009 -- Washington, DC--In response to yesterday's announcement that Lou Dobbs is resigning from his position as anchor on CNN effective immediately, SEIU issued the following statement:

"Today we are seeing what has always made America great--when a group of committed activists join forces, they can change the course of history.

"Night after night, Lou Dobbs abused his position of trust as a "news anchor" at CNN to attack immigrant workers and communities with no attention to facts or balance. His kind of divisive propaganda is harmful to our society, and should have no place on a responsible television network.    » read more »

Columbus, OH – Ohio Governor Ted Strickland today congratulated two Ohio companies that received more than $4.4 million in federal funding to research and develop technologies to produce biofuels, bioenergy and high-value biobased products.

“With agriculture and food processing as two of Ohio’s largest industries, we have tremendous potential for creating energy out of natural, renewable resources. And growing Ohio’s advanced and renewable energy industry is a cornerstone of our plan to create new Ohio jobs,” Strickland said. “We appreciate Secretaries Vilsack and Chu for helping to boost our growth industries with these resources.”    » read more »

Defensive sectors and developing economies set to be key investment focuses

LONDON and NEW YORK, November 12, 2009 — In a recent panel debate on the outlook for global markets in 2010, a team of Newton's global fund managers agreed that a 'traditional' consumer driven cyclical recovery appeared unlikely in the face of continued household debt and high levels of unemployment. High quality defensive stocks and exposure to developing economies emerged as some of the key investment focuses for 2010.    » read more »

TEMPE, Ariz. -- Nov. 12, 2009-- In a letter to U.S. Secretary of Transportation Ray LaHood, US Airways’ (NYSE: LCC) Chairman and CEO Doug Parker responded to Secretary LaHood’s invitation to attend the Future of U.S. Aviation Forum being hosted today by the Department of Transportation. In the letter, Parker shares the airline and industry’s views about the future competitiveness of the U.S. aviation industry. The letter in its entirety follows:

November 11, 2009

The Honorable Ray LaHood
Secretary of Transportation
U.S. Department of Transportation
1200 New Jersey Ave., SE
Washington, DC 20590

Dear Secretary LaHood:    » read more »

PITTSBURGH, Nov. 13, 2009 – PPG Industries (NYSE:PPG) was selected to receive a $741,000 grant from the U.S. Department of Energy to support the development of materials and automation processes for wind blade manufacturing. In partnership with MAG Industrial Automation Systems, PPG aims to optimize materials technologies and develop fiber glass prepreg placement techniques to improve wind blade reliability while reducing the cost of wind blade production.    » read more »

Midland, MI - November 12, 2009 -- The Dow Chemical Company (NYSE:DOW) and the California Institute of Technology (Caltech) announced today that they had recently signed a multi-year research collaboration that is strategic to both organizations’ interests in solar energy.

The arrangement is aimed at aligning Dow’s capabilities in CIGS based materials with Caltech’s research in next generation photovoltaics. Together, they expect to develop new, ultra low cost, high efficiency photovoltaic materials.    » read more »

November 13, 2009 -- Genzyme Corp. (Nasdaq: GENZ) announced today that it has issued letters to U.S. healthcare providers regarding its enzyme replacement products Cerezyme® (imiglucerase for injection), Fabrazyme® (agalsidase beta), Myozyme® (alglucosidase alfa), Aldurazyme® (laronidase), as well as Thyrogen® (thyrotropin alfa for injection), filled at its Allston Landing manufacturing facility. The letters remind providers of the U.S. product labeling recommendations advising both visual inspection of vials and in-line filtration of enzyme replacement products to address the potential presence of foreign particles.    » read more »

TEWKSBURY, Mass., Nov. 12, 2009 -- Raytheon Company (NYSE: RTN) has been awarded a $197 million U.S. Navy contract for life-cycle engineering and support of the LPD 17 class, the Navy's next generation of amphibious warfare ships.

As a key member of the LPD alliance, Raytheon is the total ship electronics systems integrator for the LPD 17 class as well as the prime contractor for life-cycle engineering and support. The company provides the Shipboard Wide Area Network, integrated product data environment, total ship information management, and integrated ship electronics architecture for the LPD 17 class.    » read more »

DUBAI, United Arab Emirates, Nov. 15, 2009 -- The U.S. government executed separate Letters of Offer and Acceptance with three of its key allies to purchase Raytheon Company's (NYSE: RTN) AIM-120C-7 Advanced Medium Range Air-to-Air Missile (AMRAAM).

The three countries, in the order they signed their LOAs, are Kuwait, Morocco and Jordan.

"The AIM-120C-7 provides unparalleled air combat and air defense capabilities," said Col. Michael Andersen, commander of the U.S. Air Force's 328th Armament Systems Group. "By equipping our allies with the AIM-120C-7 through the Foreign Military Sales program, the U.S. government strengthens regional security and promotes coalition interoperability."    » read more »

Boeing remains committed to protecting Santa Susana as public open space; Cleanup will continue while court decides case

SACRAMENTO, Calif., Nov. 13, 2009 – Boeing [NYSE: BA] is asking a federal court to review a recent California law passed solely to regulate the environmental cleanup of Santa Susana Field Laboratory, a former federal government rocket engine testing and energy research facility northwest of Los Angeles.

In its filing, Boeing says the recent state law changes the normal cleanup process applied throughout the state by imposing “irrational and arbitrary requirements” on Santa Susana.    » read more »

Airplane begins preparations for flight test

EVERETT, Wash., Nov. 12 -- Boeing (NYSE: BA), on Thursday afternoon, towed the first 747-8 Freighter out of the factory in Everett, Wash. The airplane, ultimately destined for Cargolux, will be painted and begin preparations for flight test.

"It is very rewarding to see this airplane transition to the flight test phase," said Mo Yahyavi, 747 program vice president and general manager. "Our employees, suppliers and customers have put a lot of work into making the 747-8 Freighter a reality."    » read more »

12 November 2009 -- Louisville, Kentucky – Open the December issue of Popular Science and you’ll find that the GE Hybrid Water Heater, with its advanced technology, pulls energy savings out of thin air. The innovative water heater has won a Best of What’s New award in the Home Technology category. This is the fourth time GE’s innovative products have won a Popular Science Best of What’s New award for Home Technology.    » read more »

Seven-Year O&M Contract Covering 529 GE 1.5-MW Machines Highlights E.ON and GE’s Services Focus

SCHENECTADY, N.Y. -- November 12, 2009 -- GE (NYSE: GE) and E.ON Climate & Renewables (EC&R) North America have signed a seven-year operation and maintenance (O&M) agreement covering EC&R’s complete fleet of 529 GE wind turbines installed in the United States. The O&M deal is one of the largest wind services agreements ever signed by GE.

The agreement is designed to maximize turbine availability and energy production across EC&R’s U.S. installed base of GE wind turbines. In addition, the agreement reflects GE and EC&R’s shared goal of maintaining peak performance and reliability and building the world’s best running fleet.    » read more »