“Pilot error blamed - Wichita Falls Times Record News” plus 4 more |
- Pilot error blamed - Wichita Falls Times Record News
- Gelsinger out in Intel reshuffle - ZDNet
- Lilly cutting 5,500 jobs before Zyprexa lapse - CNN Money
- IQNavigator's Melisa Liberman Named Outstanding Woman in Business - Consumer Electronics Net
- Avaya wins Nortel enterprise business for $900 million - IT World
| Pilot error blamed - Wichita Falls Times Record News Posted: 14 Sep 2009 07:52 AM PDT LITTLE ROCK, Ark. (AP) — A National Transportation Safety Board report says the pilot of a business jet that crashed and killed two people in Conway in 2007 failed to fly a stabilized approach and delayed his decision to abort the landing. The June 30, 2007, crash killed 71-year-old pilot Hugh Rains of Wichita Falls, Texas, and 71-year-old Janet Brady of Conway. The plane failed to stop on the wet runway at the airport in Conway and crashed into Brady's home — then exploded. Two other people were injured. The NTSB report issued Thursday says standing water on the runway contributed to the crash. The investigation found Rains was flying the Cessna Citation too fast on his final approach to the runway and probably should've aborted the landing earlie |
| Gelsinger out in Intel reshuffle - ZDNet Posted: 14 Sep 2009 06:12 AM PDT Intel confirms a major reshuffle of its top-level executives. Sean Maloney and Dadi Perlmutter will lead the new Intel Architecture Group, while former CTO Pat Gelsinger is leaving. Pat Gelsinger, a thirty year veteran, currently in charge of the enterprise division, is said to be going to storage and virtualization company EMC. Dadi Perlmutter, who led Intel Israel and has a good claim to have saved the company with his focus on low-power computing, will be in charge of engineering across Intel's chip divisons, while sales chief Sean Maloney gets put in overall charge of silicon. More as we get it - and no prizes for guessing what the big topic will be at the Intel Developer Forum next week. This article was originally posted on ZDNet UK. ZDNet's Andy Smith contributed to this report. |
| Lilly cutting 5,500 jobs before Zyprexa lapse - CNN Money Posted: 14 Sep 2009 08:28 AM PDT * To cut 13.5 pct of staff by end of 2011 * Aims to cut annual costs by $1 bln * Reorganizing company into 5 business units * Shares rise 0.8 percent (Adds CEO comments, details on strategy) By Ransdell Pierson NEW YORK (Reuters) - Eli Lilly and Co said Monday it plans to cut 5,500 jobs, or 13.5 percent of its workforce, as it girds for generic competition by 2011 on its Zyprexa schizophenia drug and Gemzar cancer treatment. The Indianapolis-based drugmaker, whose revenue outlook has also been dimmed by competition for its Byetta diabetes drug and safety concerns for its recently approved Effient blood clot preventer, said it aims to cut its annual costs by $1 billion by the end of 2011. The company aims to streamline its structure and shrink its workforce to 35,000, from its current strength of 40,500, by the end of 2011. But the new headcount does not include any new sales force additions in fast-growing emerging markets and Japan, Lilly said. Lilly's biggest challenges are the slated U.S. patent expirations on Gemzar, Zyprexa and anti-depressant Cymbalta, slated for late 2010, late 2011 and 2014, respectively. Cheaper generics are expected to wrest away the vast majority of their U.S. sales. That is a huge concern, given the fact that the trio are among Lilly's biggest products, with combined global annual revenue of more than $9 billion -- or about 43 percent of Lilly's total current annual sales. "We will soon enter the most challenging period in our company's history," said company Chief Executive John Lechleiter. "This calls for strong measures to speed our output of new medicines, better meet the changing needs of our customers and reduce our costs." Lilly, which stuck to a 2009 profit forecast of $4.20 to $4.30 per share, has previously said it expects double-digit compound annual growth of its earnings per share from 2007 to 2011. In an interview, Lechleiter said the cost-cutting and restructuring measures announced Monday "will undoubtedly help us pull ahead," largely by speeding up launches of new medicines. Lilly's streamlining program is similar to one recently implemented by Pfizer Inc, the world's biggest drugmaker, which is battening down the hatches for the patent expiration -- also in 2011 -- on its Lipitor cholesterol fighter. Lilly said it will create a new organizational structure by Jan. 1, with five global business units. They include oncology, diabetes, emerging markets, established markets and its Elanco animal health business. The company has a long-standing focus on diabetes and cancer, and both are hot areas because of the aging population and the hefty price tags of those drugs. Although they will not have their own dedicated business units, Lechleiter said neuroscience, cardiovascular, bone and autoimmune drugs will remain a company focus, and that Lilly will remain opportunistic about licensing or buying drugs in those and other areas. "We may sharpen up or reshape our focus to meet our needs and opportunities," he said, although diabetes and cancer drugs are being given priority status under the restructuring. Lechleiter said Lilly is not interested in moving into the generics business, an area that Pfizer and some other large drugmakers are beefing up largely in order to tap demand in emerging markets. He said the restructuring instead sends a clear message that Lilly is "redirecting its efforts to discovering innovative medicines." Company shares were up 0.8 percent at $33.08 in late-morning trading on the New York Stock Exchange. (Reporting by Ransdell Pierson, editing by Dave Zimmerman) |
| IQNavigator's Melisa Liberman Named Outstanding Woman in Business - Consumer Electronics Net Posted: 14 Sep 2009 08:42 AM PDT September 14, 2009 -- DENVER, CO -- (Marketwire) -- 09/14/09 -- Melisa Liberman, EVP of Global Services at IQNavigator, was named "Outstanding Woman in Business" for high technology and telecommunications by the Denver Business Journal at the 11th Annual Outstanding Women in Business awards event held on August 27, 2009. The award honors women in different industries who have achieved successes through business leadership and community contribution.  "It is an honor to be recognized in the company of such an accomplished group of women, and I am grateful to both the Denver Business Journal and to my mentors over the years who have supported me in my career," said Liberman, a Colorado native who grew up on her family's cattle ranch and attended the University of Colorado. In 2000, Liberman was among the first employees at Denver-based startup IQNavigator, now the leading provider of services spend management solutions to large, global companies. She quickly distinguished herself as a leader, helping client procurement executives craft solutions to help save their organizations millions of dollars while growing one of the most admired client service organizations in the industry. IQNavigator president and CEO John Raeder credits Liberman with helping the company meet or exceed its revenue numbers for 36 consecutive quarters. IQNavigator grew 52 percent year-over-year in 2008, and had sales bookings growth of 300 percent year-over-year in the first quarter of 2009. "She's my aide-de-camp in the company, really the chief of staff for me," said Raeder. "I expect over time she'll become CEO of this company or another fast-growing tech company."  More information about Liberman and the award can be found at http://denver.bizjournals.com. About IQNavigator IQNavigator is the leading provider of services spend management software and managed services that enable companies such as Charles Schwab, Northrop Grumman, Schlumberger, Shell and Sony Electronics to gain visibility and control over a significant and strategic corporate spend category. With proven domain expertise and innovative technology solutions, IQNavigator helps turn complex services spend into a new source of value, competitive advantage and continuous bottom-line improvement. For more information, visit www.IQNavigator.com. Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1062857 Add to Digg Bookmark with del.icio.us Add to Newsvine Contact:
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| Avaya wins Nortel enterprise business for $900 million - IT World Posted: 14 Sep 2009 08:28 AM PDT
Avaya has emerged as the winning bidder for Nortel's enterprise business, beating out Siemens Enterprise Communications over the weekend. The firm will pay $900 million for the unit, Nortel's Government Solutions group and DiamondWare Ltd., a Nortel-owned maker of softphones. Avaya will also contribute an additional pool of $15 million for an employee retention program. That price is nearly twice what Avaya was initially said to be buying the enterprise business for back in July before auction bidding kicked in. Slideshow: The rise and fall of Nortel Avaya has sought Nortel's enterprise business in hopes of boosting its share of the enterprise telephony and unified communications markets, and getting more customers to migrate to its IP line of communications products. The sale, expected to close later this year, is subject to court approvals in the U.S., Canada, France and Israel as well as regulatory approvals, other customary closing conditions and certain post-closing purchase price adjustments. Telecom carrier Verizon, however, is expected to contest the sale on the grounds that Avaya does not plan to retain customer support contracts between Nortel and Verizon. Nortel customers hope the deal works out in their interest. "Nortel earned the trust of our user group members by delivering innovative, reliable communications solutions and ensuring high-levels of service and support, " said Victor Bohnert, Executive Director of the International Nortel Networks Users Association, in a prepared statement. "With the announcement of today's purchase by Avaya, we look forward to extending that relationship forward to serve the business communications needs of our constituency base across the globe." Nortel will seek Canadian and U.S. court approvals of the proposed sale agreement at a joint hearing on September 15, 2009. The sale close is expected late in the fourth quarter. In some EMEA jurisdictions this transaction is subject to information and consultation with employee representatives. As previously announced, Nortel does not expect that its common shareholders or the preferred shareholders of Nortel Networks Limited will receive any value from the creditor protection proceedings and expects that the proceedings will result in the cancellation of these equity interests. Network World Sign up for ITworld's Daily newsletter |
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