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Marshals Seek Deadly Conn. Gas Plant Blasts Cause

February 8th, 2010

Invest

A dozen or more others were hurt in Sundays blast, which was so powerful it alarmed residents who heard the boom and felt tremors in their homes miles away from the Kleen Energy Systems plant in Middletown, about 20 miles south of Hartford.
The explosion left huge pieces of metal that once encased the plant peeling off its sides. A large swath of the structure was blackened and surrounded by debris, but the building, its roof and its two smokestacks were still standing at the site, which is near Wesleyan University on a wooded and hilly 137-acre parcel of land overlooking - - - - >



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Cit Names Ex-merrill Ceo Thain as Chairman, Ceo

February 8th, 2010

Bank

CIT Group Inc., one of the nations largest lenders to small and mid-sized businesses, said Thain will take the helm immediately. The 54-year-old replaces acting interim CEO Peter J. Tobin, who will remain on CITs board. Tobin had stepped in while CIT searched for a permanent replacement for Jeffrey Peek, who retired as chairman and CEO on Jan. 15.
As chairman and CEO of Merrill Lynch, Thains deal to sell Merrill was considered a lifesaving move for the company at the height of the financial crisis. But he then came under fire for having paid out $3.6 billion in bonuses to - - - - >



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Chinese Police Shut Down Hacker Training Business

February 8th, 2010

Government

The crackdown comes amid growing concern that China is a center for Internet crime and industrial espionage. Search giant Google said last month its e-mail accounts were hacked from China in an assault that also hit at least 20 other companies.
Police in Hubei province arrested three people suspected of running the hacker site known as the Black Hawk Safety Net that disseminated Web site hacking techniques and Trojan software, the China Daily newspaper said. Trojans, which can allow outside access to a computer when implanted, are used by hackers to illegally control computers. The report did not say exactly when - - - - >



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Toyota Said to Strategy Recall Of Prius Hybrids In Japan This Week

February 8th, 2010

Invest | ,

The worlds largest automaker plans to recall at least 270,000 of the gasoline-electric hatchbacks in Japan and the U.S., one person said, declining to be identified as the information isnt yet public. Juergen Stolze, a Toyota spokesman in Germany, said the carmaker will decide whether to recall Prius cars in Europe by Feb. 10.
A Prius recall may further tarnish Toyotas reputation after the Toyota City, Japan-based company lost about $33 billion in market value amid expanding global recalls of other models to repair defects linked to - - - - >



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Acer Policies to Expand Server Sales In Competition With H-p, Dell

February 8th, 2010

Market

“You cant be a PC player just on consumer, we need to be a PC player in all segments,” Gianfranco Lanci, President and Chief Executive Officer of Taipei-based Acer said in a Feb. 5 interview. “This year, youll see a big effort from our side on commercial.”
Acer overtook Dell in the third quarter to become the worlds No. 2 PC company by offering low-cost Aspire One netbooks and higher-priced Ferrari-branded notebooks aimed at consumers. Servers, more powerful computers used to store information and manage networks, will - - - - >



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Overhauls Failure Will Ignite U.s. Health Industry Mergers

February 8th, 2010

Health

With Congress sweeping overhaul of the health system stalled, industry will seek its own answers to a push by government and the private sector to rein in costs, said Curtis Lane, senior managing director at MTS Health Partners, a New York-based equity fund. An aging U.S. population will spur demand for services and, at the same time, boost pressure to control spending, he said.
One solution will be increased consolidation, with companies led by WellPoint Inc., the biggest U.S. insurer by enrollment, and Community Health Systems Inc., - - - - >



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Inside Washington: Missed Signs In Toyota Recalls

February 7th, 2010

Invest | ,

That was in 2003.
The years since have seen hundreds of drivers complaints about unwanted acceleration of their Toyotas, six inconclusive federal investigations, multiple reports of deaths and repeated denials from the automaker that it had a major problem on its hands.
Thats just the sort of bureaucratic inertia Barack Obama pointedly criticized as a presidential candidate. Yet his administration was without a federal highway safety chief for most of its first year and, like the Bush administration before it, missed signals in the Toyota case.
After several investigations, it was only last week that Toyota owners learned federal regulators, concerned that the - - - - >



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Jury: Bayer Must Pay $1.5m to Ak, Ms Rice Farmers

February 7th, 2010

Farm

Fridays verdict was the second against Bayer CropScience for losses sustained by farmers when an experimental variety of rice that the company was testing infiltrated crops.
A jury awarded about $2 million to two Missouri farmers in December, and three additional test cases are scheduled for this year involving farmers from Louisiana and Texas as well as a rice exporter. No punitive damages have been awarded in any of the verdicts.
About 6,000 rice producers have filed claims against Bayer since the U.S. Department of Agriculture announced in August 2006 that trace amounts of the genetically modified Liberty - - - - >



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Wa Among States Weighing Transaction Of Liquor Business

February 6th, 2010

House

The 250,000-square-foot warehouse is the nexus from which all of the states liquor is imported, processed, and moved out to the 315 state and contract stores, the only place where Washingtonians can buy hard liquor for home consumption.
As states scramble to deal with gaping budget deficits, many are looking for any opportunity to increase revenue, and Washington is one of a handful of states weighing whether privatizing liquor sales is the way to get back into the black.
Some lawmakers here want to sell the distribution center - bringing the state a one-time boost of about $33 million - and let - - - - >



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Goldman Ceo Blankfein Gets $9m Stock Bonus For 09

February 6th, 2010

Bank | ,

Blankfein will receive more than 58,000 shares of restricted stock that cant be cashed in for five years, the bank said in a securities filing Friday. Blankfein will receive no cash as part of his bonus.
Blankfeins bonus was less than some had expected. But it reflects Wall Streets changing pay culture. Several banks are paying their CEO restricted stock and adopting clawback provisions in response to a furor over outsized paydays at financial institutions that helped push the economy into a recession and then later took billions in federal bailouts.
Still, Blankfein led Goldman to a stellar 2009 performance, and some - - - - >



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