“Business briefs - Dubuque Telegraph Herald” plus 4 more |
- Business briefs - Dubuque Telegraph Herald
- Feuding father, son take fight to court - Delaware Online
- Redefining a Profession - New York Times
- State set to recover sooner than US - Boston Globe
- Michigan briefcase: Firms seeking engineers - Detroit Free Press
Business briefs - Dubuque Telegraph Herald Posted: 27 Sep 2009 08:05 AM PDT |
Feuding father, son take fight to court - Delaware Online Posted: 27 Sep 2009 07:15 AM PDT (4 of 7) Under Christopher's leadership, the company expanded into Maryland and Washington, D.C., and saw sales grow more than 20 percent from $55 million in 2005 to $68 million in 2007, according to Christopher's suit. "During this period, Bob remained in retirement and out of touch with the day-to-day operation of the business," Christopher's lawsuit says. "Although he continued to be Chairman of the Board, Bob deferred to Chris's management of the Company affairs." A tale of two storiesIn legal papers in which N.K.S. is the plaintiff, Robert, who owns the majority of the stock, tells a different story. In the spring of 2008, the company's lenders expressed concerns to Robert about the company's financial performance and weak internal controls, N.K.S alleges in its lawsuit. " ... By July 2008, Chris' mismanagement had resulted in NKS being in a financial crisis," Robert states in legal documents Robert began working to return N.K.S to profitability and to "shore up its finances." "Chris did not join in those efforts and actively resisted Bob," the N.K.S. lawsuit alleges. While it was true Christopher had been entrusted with day-to-day management of the company, Robert denies in legal papers that he had retired. What's more, Robert denies that he agreed to resign as trustee of the controlling trust. He was paid approximately $1.75 million, but it was repayment for loans he had made to N.K.S., legal papers said. Robert also disputes the amount of salary and compensation Christopher said he paid to his father, legal papers say. By the time 2009 rolled around, Robert took steps to legally remove Chris from all positions with the company. But then, Robert, in an effort to reach a resolution, dropped his lawsuit and ended up reappointing Chris as president, according to legal documents. Still, the situation at N.K.S. grew worse, the N.K.S. lawsuit says. By April 30, Christopher was removed from all positions with the company. Anthony M. Horvat, managing director of NachmanHaysBrownstein Inc. in Philadelphia, a consulting firm that works with troubled companies, had been hired as the chief restructuring officer of N.K.S., according to legal papers. This posting includes an audio/video/photo media file: Download Now |
Redefining a Profession - New York Times Posted: 27 Sep 2009 08:05 AM PDT This posting includes an audio/video/photo media file: Download Now |
State set to recover sooner than US - Boston Globe Posted: 27 Sep 2009 08:27 AM PDT As a result, MetraTech has added 15 jobs to a workforce of about 100, and is expanding into larger offices. Meanwhile, professional, scientific and technical services, a bellwether tech sector that includes firms like MetraTech, has gained jobs in three of the past four months, and added more than 2,000 since February. This posting includes an audio/video/photo media file: Download Now |
Michigan briefcase: Firms seeking engineers - Detroit Free Press Posted: 27 Sep 2009 07:58 AM PDT The Engineering Society of Detroit Fall Engineering & Technology Job Fair will be held from 2 to 7 p.m. Thursday at the Rock Financial Showplace in Novi. More than 30 companies will be on hand to recruit talent from various disciplines including architecture, design, chemical, civil, computer, energy, electrical, biomedical, environmental, aerospace, transportation, biofuels, manufacturing, mechanical, programming, technical and other engineering and technology related fields. The Engineering Society's spring job fair attracted more than 1,500 attendees. Cost to attend is $15 and includes a one-year membership to ESD and the opportunity to network with corporate employers from numerous fields. Attendees are encouraged to bring several copies of their updated rsum and to take advantage of ESD's Job Bank by entering their rsum free of charge. To register, visit www.esd.org or call 248-353-0735. For more information, call Leslie Smith at 248-353-0735, ext. 152, or lsmith@esd.org. ECONOMIC DEVELOPMENT: Science incubator opensThe Michigan Life Science and Innovation Center has opened in Ann Arbor to connect entrepreneurs with business accelerator organizations and start-up life science companies. The 57,518-square-foot facility is a collaboration of the Michigan Economic Development Corp. (MEDC), Ann Arbor SPARK, Greater Wayne Economic Development Corp. and a private foundation that contributed money to purchase the facility from Pfizer. The center offers office space, in addition to laboratory facilities. Current research and innovation taking place at MLSIC includes focused drug development, clinical research organization, biological processes, and life science services. Among the companies: • Algal Scientific Corp., a biotech company working to develop a system to convert proprietary algal strain into fuel. • Chef House Catering, a catering and events planning company and the center's caf operator. This posting includes an audio/video/photo media file: Download Now |
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