| Pre-NADA Workshop to Bust Used-Car Myths
In fact, quite frankly, many new-car dealers gave up a lot of that business to the independents," Lescota said. "Well, guess what? The market is shifting, and it appears new-car sales may not break 16 million this year. And with profit margins as slim as they are today, dealers and used-car managers can't afford to make mistakes. Too much is at stake," he continued. So for dealers to be profitable in 2008, they basically have a couple of choices, Lescota said. "Either shore up their service department or get into the used-car business. By getting into the used-car business, they can certainly improve their fixed coverage because they go hand in hand. Chip and I will help dealers and used-car managers not only grasp the importance of this new reality but also how to come up with practical solutions they can implement," he further explained. At the same time, Lescota said he hopes dealers will look at the used-car department as an additional franchise, and not as a separate department. "Many dealers who are thinking 2008 will be a tough year are considering adding a new franchise to supplement their existing franchise.
Robots help rehabilitate stroke victims at VA
After 16 years in the Navy, Petty Officer 1st Class Becky Schrader was medically retired when a stroke blindsided her at age 37. Schrader, who as a Navy cryptologist gathered, guarded and provided critical military information, was left first paralyzed after the stroke five years ago, then quite weak on her left side. The cause was as mysterious as the ciphers she once helped to devise and unravel. Doctors told her husband she might never walk again. Today, after five years of traditional rehabilitative therapy at Seattle's VA Puget Sound Health Care System on Beacon Hill, Schrader has regained some use of her left arm. She now walks and does so at least twice a week to enter the local VA medical center's research center. There she calls upon the same determination with which she once served her country to volunteer in the service of medical research.
A.M. Costa Rica/José Pablo Ramírez Vindas
Michael Rivera Guillen had his head stuck out the window and was moving it back and forth, back and forth, like the pendulum on a grandfather clock. This was the 5-year-old's first time on a train.
"I wanted to share the experience with my grandchildren," said Rivera's grandmother, Xinia Durán Meza, who said it was her first time on the train as well. "It's enchanting," she said, "everything is so beautiful."
The Tren a la Tica is one of the oldest in Central America, opening to the public in 1903. It ran for the first time as an electric train in 1930 and is the second oldest of its kind in Latin America, according to train officials. At the height of the era, the train institute employed over 3,000 people. The train was shut down in 1995 under President Jose María Figures Olsen but finally reopened in 2001 with the help of a tourist organization called American Travel.
Economic turmoil clouds VC firms' investment outlook
The open source category has already seen movement, with Sun Microsystems recently buying Sweden-based MySQL for $1 billion. Grotech will be searching for additional open source opportunities in 2008, Rainey said. At Nobska Ventures, a venture capital firm in Stevenson that invests in early-stage information technology companies in the mid-Atlantic and Israel, officials said the company will eschew hot trends when it chooses its 2008 investments, looking instead for "market-transforming businesses that are unique in their sector," said Chairman Charlie Moore. Nobska has made four investments since forming in 2005. The firm is still raising its first fund and is anticipating at least one exit from its portfolio in 2008, likely through an acquisition. Moore declined to comment on how much money has been raised for the fund so far.
Archive for: February, 2008
Between the Lines Latest Post | Last 10 Posts | Archives Sun completes MySQL purchase; Eyes more open source acquisitions Posted in: General Open Source Sun Sun said Tuesday that it has completed the purchase of MySQL for $1 billion and CEO Jonathan Schwartz indicated the company plans to keep shopping for open source acquisitions. "Open source is really in the DNA of Sun," said Schwartz on a conference call to trumpet MySQL as a transforming acquisition. Schwartz also added that Sun was "looking forward to more tuck in acquisitions on the open source front." Schwartz wasn't going to name what companies were on his acquisition list, but he did outline some key attributes. Open source companies with "high integrity" communities, broad distribution and some commercial success would be fine tuck in acquisitions.
Strong demand helps steel giant
The world's largest steel company, Arcelor Mittal, has reported a net profit of $10.36bn (5.3bn) for 2007. The results - in line with analysts' expectations - are the first full-year figures since the merger of Arcelor and Mittal Steel in June 2006. The firm had predicted robust global steel markets would boost its results. Chief executive Lakshmi Mittal said the company was "focused on leading the transformation of our industry towards a sustainable future". Late last year Arcelor Mittal agreed a deal with controlling shareholders in China Oriental to allow it to eventually raise its stake in the Chinese firm to 73.13%. Arcelor Mittal is eager to increase its exposure to China, the world's biggest producer and consumer of steel. Mittal bought Arcelor in 2006, creating a firm with 10% of the world's steel market.
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