Sunday, December 20, 2009

“QVS Tech Inc Receives 2009 Best of Business Award - PR-USA.net” plus 3 more

“QVS Tech Inc Receives 2009 Best of Business Award - PR-USA.net” plus 3 more

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QVS Tech Inc Receives 2009 Best of Business Award - PR-USA.net

Posted: 20 Dec 2009 07:20 AM PST

 QVS Tech Inc has been selected for the 2009 Best of Business Award in the Oscillators category by the Small Business Commerce Association (SBCA)

The Small Business Commerce Association (SBCA) is pleased to announce that QVS Tech Inc has been selected for the 2009 Best of Business Award in the Oscillators category.

The SBCA 2009 Award Program recognizes the top 5% of small businesses throughout the country. Using consumer feedback, the SBCA identifies companies that we believe have demonstrated what makes small businesses a vital part of the American economy. The selection committee chooses the award winners from nominees based off information taken from monthly surveys administered by the SBCA, a review of consumer rankings, and other consumer reports. Award winners are a valuable asset to their community and exemplify what makes small businesses great.

About Small Business Commerce Association (SBCA)
Small Business Commerce Association (SBCA) is a San Francisco based organization. The SBCA is a private sector entity that aims to provide tactical guidance with many day to day issues that small business owners face. In addition to our main goal of providing a central repository of small business operational advice; we use consumer feedback to identify companies that exemplify what makes small business a vital part of the American economy.
SOURCE: Small Business Commerce Association

Contact:
Small Business Commerce Association
Email: This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
URL: http://www.SBCAAwards.org

Fyi: Business - Tulsa World

Posted: 19 Dec 2009 12:19 AM PST

Oklahoma rig count steady at 93

The number of drilling rigs actively exploring for oil or gas in Oklahoma held steady at 93 this week, Baker Hughes Inc. reported Friday.

The state's rig count is about 44 percent below the year-ago level of 165.

Nationwide, the net number of active drilling units rose for the ninth straight week, climbing by 32 to 1,193, said Houston-based Baker Hughes. A year ago, the national total was 32 percent higher at 1,764.

Of the rigs running this week across the nation, 773 were exploring for natural gas and 409 for oil, the report said, while 11 were listed as miscellaneous.

Of the other major oil- and gas-producing states, Texas gained a net total of 20 rigs this week, Colorado gained six, and New Mexico and North Dakota each gained two. Louisiana's rig count fell by four, while Arkansas and Pennsylvania each lost one. Net rig totals did not change in Alaska, California, West Virginia and Wyoming.

Federal regulators shut banks in five states

Regulators shut down banks Friday in Alabama, Florida, Georgia, Illinois and Michigan, bringing to 138 the number of U.S. banks brought down this year by the weak economy and mounting loan defaults.

The Federal Deposit Insurance Corp. took over the five, which are:

Atlanta-based RockBridge Commercial Bank, with $294 million in assets and $291.7 million in deposits;

New South Federal Savings Bank, based in Irondale, Ala., with $1.5 billion in assets and $1.2 billion in deposits;

Citizens State Bank of New Baltimore, Mich., with $168.6 million in assets and $157.1 million in deposits;

Peoples First Community Bank of Panama City, Fla., with $1.8 billion in assets and $1.7 billion in deposits; and

Independent Bankers' Bank, based in Springfield, Ill., with $585.5 million in assets and $511.5 million in deposits.

The 138 bank failures have cost the government-backed deposit insurance fund more than $30 billion.

Jury awards BP workers $100 million in lawsuit

A federal jury in Galveston, Texas, awarded more than $100 million to 10 contract workers Friday who said they were injured in 2007 when a toxic substance was released at BP PLC's Texas City plant.

The award took the form of $10 million in punitive damages to each worker.

More than 100 contract workers were sent to hospitals in the incident.

BP said it was shocked by the jury's verdict and denied the workers were harmed.

The refinery was the site of a 2005 explosion that killed 15 people and injured 170.

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Akorn Announces Business Update - Forbes

Posted: 18 Dec 2009 12:38 PM PST


BusinessWire - Akorn, Inc. (NASDAQ: AKRX) today announced that it failed to reach an amicable resolution to a longer term and strategic business arrangement with the supplier of its Tetanus Diphtheria ("Td") vaccine and as a result will be exiting the business. The existing supply agreement will end on March 14, 2010. The company previously announced its intent to exit the distribution of flu vaccines.

Raj Rai, Interim Chief Executive Officer, commented, "In our review and analysis of the current vaccine business environment and the long-term strategy of the company, we concluded that the vaccine distribution business is non-strategic to our core generic pharmaceutical business. Although it contributed significantly to the top line growth, it has distracted our sales efforts away from the company's more profitable product portfolio. In addition, the Td vaccine business created excessive financial burden on the company since its launch and is expected to contribute only marginally to operating profits in 2009."

Rai further added, "We are well positioned to have a successful 2010 with opportunities to grow with recently launched products and expected new product approvals next year. Exiting the vaccine distribution business allows our sales force to focus on new product launches and on higher margin products. We expect a smooth transition of the Td vaccine business and will continue to support our existing customer needs through our supply chain."

About Akorn, Inc.

Akorn, Inc. manufactures and markets sterile specialty pharmaceuticals. Akorn has manufacturing facilities located in Decatur, Illinois and Somerset, New Jersey and markets and distributes an extensive line of hospital and ophthalmic pharmaceuticals. Additional information is available at the Company's website at www.akorn.com.

Materials in this press release may contain information that includes or is based upon forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Forward-looking statements give our expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with a discussion of future operating or financial performance. In particular, these include statements relating to future steps we may take, prospective products, future performance or results of current and anticipated products, sales efforts, expenses, the outcome of contingencies such as legal proceedings, and financial results.

Any or all of our forward-looking statements here or in other publications may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks and uncertainties. Many such factors will be important in determining our actual future results. Consequently, no forward-looking statement can be guaranteed. Our actual results may vary materially, and there are not guarantees about the performance of our stock.

Any forward-looking statements represent our expectations or forecasts only as of the date they were made and should not be relied upon as representing our expectations or forecasts as of any subsequent date. We undertake no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise, even if our expectations or forecasts change. You are advised, however, to consult any further disclosures we make on related subjects in our reports filed with the SEC. In particular, you should read the discussion in the section entitled "Cautionary Statement Regarding Forward-Looking Statements" in our most recent Annual Report on Form 10-K, as it may be updated in subsequent reports filed with the SEC. That discussion covers certain risks, uncertainties and possibly inaccurate assumptions that could cause our actual results to differ materially from expected and historical results. Other factors besides those listed there could also adversely affect our results.

SOURCE: Akorn, Inc.

Akorn, Inc. Tim Dick Chief Financial Officer (847) 279-6150

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BUSINESS JOURNAL: Republic CEO apologies for comments about Milwaukee - FOX6Now.com Milwaukee

Posted: 18 Dec 2009 02:39 PM PST

Republic Airways Holdings Inc. chief executive officer Bryan Bedford offered an apology Friday afternoon for disparaging comments he made about Milwaukee's lack of desirability as a travel destination during a recent investors conference.

"I owe a sincere apology to the citizens of Milwaukee for my comments," Bedford said in a telephone interview Friday afternoon. "Innocent as they may have been, they clearly read as disparaging and that wasn't my intent."

A public firestorm developed after The Business Journal Serving Greater Milwaukee reported in its Friday print and Web editions comments made by Bedford at the Next Generation Equity Research Airlines Conference in New York City on Dec. 9.

"Milwaukee is not a destination market by price. I don't care how cheap you make it, you don't go there unless you have to," Bedford told a group of what he described as longtime airline industry investors and analysts.

Bedford also told the group that Milwaukee-area travelers are willing to pay more to book a flight on Oak Creek-based Midwest Airlines. Republic, which has its headquarters in Indianapolis, purchased Midwest in July for $31 million.

"We have 1.1 million frequent fliers in Milwaukee and they will pay a premium to fly on Midwest," he said. "They love that cookie."

Bedford's comments referred to the baked-on-board chocolate chip cookies that long have been a symbol of Midwest, an airline that historically has catered to business travelers and at one time offered unique amenities such as free wine, champagne and gourmet meals before drastically reducing such offerings in recent years.

"My intention wasn't to disparage the city of Milwaukee," Bedford said. "I'm also really, really sorry that our employees were caught in the middle of this. I feel like my comments and the way they have been reported have been hurtful to them."

Bedford said his comments about Milwaukee came in the context of a discussion about price stimulation, which often is done to stoke demand on leisure destination routes, such as Las Vegas, Phoenix and the Caribbean, Bedford said.

The intense price competition in Milwaukee, which tends to attract a higher percentage of business travelers who often pay higher prices out of necessity, has led to deeply depressed fares and created a level of "frustration," Bedford said.

"We are all for fair competition, but at some point we have to look at the market," he said. "There's always going to be competition in Milwaukee. The question is whether the competition is fair and sensible."

All other major airports in the country have experienced a major reduction in available airline seats this year, while Mitchell has seen seats grow by 40 percent as competiting airlines seek to gain control of the market, Bedford said.

Investors at the conference questioned how long the airlines serving Milwaukee are willing to lose money before pulling out of the market, Bedford said.

"It's a legitimate concern," he said.

Airlines are losing money in Milwaukee under the current competitive landscape and its only a matter of time before one or more carriers leaves the market, which will cause airfares to soar, Bedford said.

"Our intention is to stay and fight," he said.

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