| Management Reshuffles - Weekly Recap | | Posted Saturday, November 11, 2006 6:46:17 AM by Blog57 Team | | (RTTNews) - The week witnessed interesting and noteworthy changes in top management positions of several companies, including high profile companies like Arcelor Mittal, Aeropostale and Wendy's International. Monday awakened to the news of Lakshmi Mittal's appointment as chief executive officer of steel giant Arcelor Mittal. His ascension to the lead role by replacing Roland Junck, however, raised concerns over succession and corporate governance ethics, while the merger of equals is taking place. Teenage apparel retailer Aeropostale, on Wednesday dismissed its marketing chief Christopher Finazzo, saying he breached the company's code of business conduct and his employment agreement by hiding his ownership interests in entities affiliated with a company vendor South Bay Apparel, Inc.... | |
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| | | KINAXO Announces Agreement with UCB | | Posted Tuesday, November 07, 2006 12:45:54 PM by Blog57 Team | | MARTINSRIED, Germany, Nov. 6, 2006--KINAXO Biotechnologies GmbH announced today that it has entered into a services and collaboration agreement with UCB S.A. of Brussels, Belgium (UCB). Under the agreement, KINAXO will employ the KinaTor(TM) technology to perform selectivity analyses for several of UCB´s small molecule lead compounds in cells and tissue samples. "We are very pleased with this collaboration to support UCB´s lead optimisation programmes," said Dr. Andreas Jenne, CEO of KINAXO. "We will apply our chemical proteomics technology KinaTor(TM) to assist UCB in the development of drugs with well-characterized inhibition profiles." About KinaTor(TM) The KinaTor(TM) technology uses immobilized small molecule inhibitors to detect their protein binding partners in biological samples.... | |
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| | | Mirant signs policy on separation package | | Posted Thursday, November 02, 2006 6:45:38 PM by Blog57 Team | | POWER producer Mirant Philippines Corp., which is selling its plants, announced Monday it had signed a policy providing for a separation package for employees of 2.5 months of salary for every year of service. The policy simply formalized a long-time practice of the company on employees' separation, company chairman, president and chief executive Jose Leviste Jr. said in a statement. "This policy takes effect immediately and is much more generous than most other separation packages," he said. It will be incorporated in the sale agreement on shares of the Atlanta-based parent Mirant Corp., which includes the Philippine assets, he added. Leviste said the sale would not affect the corporate structure of Mirant Philippines. "Since the shares to be sold are those of an offshore holding company, Mirant Philippines' local corporate structure and operations will not be affected," he said.... | |
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| | | India cautiously happy over Sri Lanka pact | | Posted Wednesday, October 25, 2006 6:46:00 AM by Blog57 Team | | New Delhi, Oct 24 (IANS) India is happy but not overtly jubilant over a historic pact Sri Lanka's two main political parties have signed in a long-term bid to resolve the country's seemingly unending ethnic conflict. The Indian assessment is that the memorandum of understanding (MoU) signed by the ruling Sri Lanka Freedom Party (SLFP) and the main opposition United National Party (UNP) Monday to cooperate on key national issues is indeed crucial, but it needs to be watched what and where it leads to. The unprecedented agreement would prove to be truly path-breaking only if - and policy makers emphasize it is no small if - it helps in an ultimate resolution of an ethnic conflict that has bled Sri Lanka besides claiming over 65,000 lives since 1983. The two-year accord covers four major grounds: conflict in the north and east, electoral reforms, good governance and social development.... | |
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| | | YPFB, Enarsa to Sign Gas Supply Contract October 19 | | Posted Monday, October 16, 2006 6:45:42 PM by Blog57 Team | | Bolivia's state oil company YPFB and its Argentine counterpart Enarsa will sign an agreement October 19 in the former's Santa Cruz to increase gas export volumes to Argentina, Bolivia's hydrocarbons ministry said in a statement. The new contract will entail the export of 27.7Mm3/d over 20 years. Bolivia would begin ramping up its current 7.7Mm3/d gas export to Argentina starting in 2007 and reach the full amount established in the contract by 2010, the statement said. .... | |
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| | | Mirant sale deal to contain clause on separation pay | | Posted Sunday, October 08, 2006 10:45:53 AM by Blog57 Team | | POWER producer Mirant Philippines will make its separation policy of paying 2.5 months for every year of service a part of the agreement on the sale of its assets, company chairman and president Jose Leviste Jr. said. This is an ironclad protection for our more than 1,000 employees, Leviste said. This is a rich package because the 2.5-month package is based on 14 months [a year], plus short-term incentives plus P1,200 in monthly rice allowance multiplied by 12 months. He said practice and policy were equally binding in law. But our employees feel they have better legal protection if it is both written and practiced. So we are giving it to them. And we are going the extra mile by making this part of the sale agreement. Mirant Asia-Pacific Ltd., the Hong Kong-based parent company of the power plants in the Philippine towns of Pagbilao and Sual, is being sold by Mirant Corp.... | |
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| | | Maytag workers review separation agreement | | Posted Saturday, September 30, 2006 2:45:50 AM by Blog57 Team | | NEWTON, Iowa About 900 Maytag workers in Newton will be eligible for a minimum separation pay of 850 dollars for each year of service -- up to 30 years -- when a laundry plant closes next year. That's according to a copy of a separation agreement given to union workers and obtained by the Newton Daily News. Under the proposed agreement, terminated workers will be eligible for six months of extended health care coverage and to participate in a production incentive plan. Members of the United Auto Workers Local 997 reviewed the agreement earlier this week. Whirlpool spokeswoman Jody Lau says the parties agreed not to comment on the negotiations. Whirlpool, which bought Maytag in March, is closing the plant and the Maytag headquarters in Newton by the end of 2007.... | |
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| | | State may reopen landfill | | Posted Thursday, September 21, 2006 2:45:49 PM by Blog57 Team | | In an irony that has both frustrated and infuriated many in this prospering city, the state is now saying the fastest way to permanently close the foul-smelling Crow Lane landfill is to open it again. In a deal still being worked out by the state, the owners of the facility, Everett-based New Ventures LLC , could resume dumping construction debris in the next few weeks, after the city shut down the operation last December. That's the same debris that sparked hundreds of odor complaints and health concerns that prompted the shutdown. Now Newburyport officials are facing some ugly options as the state finalizes the deal. ``I've always had a concern about how we were going to get this landfill capped properly," Newburyport Mayor John Moak said at a meeting with residents and state officials last Thursday to discuss the proposed deal.... | |
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| | | BWIA VSEP decision on Friday | | Posted Wednesday, September 20, 2006 12:46:07 PM by Blog57 Team | | BWIA management will present its final decision on Voluntary Separation from Employment Packages (VSEP) for its 1,800 employees to the workers' respective unions on Friday. The workers' unions met BWIA management yesterday to receive a response on the VSEP proposals they submitted last week for the employees. Speaking to the Express yesterday, Aviation, Communication and Allied Workers' Union (ACAWU) president general Curtis John said, "We still did not get from the company what exactly their position was in the meeting. We finally got to sit and talk with management as the first meeting was with a mediator and not management. "Today, the company looked at what we offered and they got clarity on some of the issues. What they told us was that we will get their final document by Friday." An agreeable settlement of workers' VSEP "is still left to be seen as the company is not hinting what their final position will be", John said.... | |
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| | | Indo-US nuclear deal: Ball now in US Senate's court | | Posted Monday, September 04, 2006 2:45:50 AM by Blog57 Team | | Washington, Aug 30: Prime Minister Manmohan Singh's assertion that the final legislation on Indo-US nuclear deal must conform "strictly" to the July 18, 2005 agreement and the separation plan has set the ball in the US Senate's court, a scholar at a premier think tank here has said."The ball has now been placed in the US Senate's court. It is up to the US Senate to decide how seriously it wants to take the demands of the Indian government, Anirudh Suri, a Junior Fellow in the South Asia Programme of Washington-based Carnegie Endowment said."The importance accorded by Singh to the concerns of other Parliamentarians and the scientific community and the categorical stances taken in his speeches will necessitate playing hard ball with the US," Suri said in his article titled 'All Eyes on the Senate as India Plays Hardball'.The Senate, which will come from its summer recess on September 5 is expected to shortly thereafter take up the civilian nuclear deal.Analysts believe that the deal per se will not be facing much of a trouble at the Senate, but that the real work will be at the conference stage between the Senate and the House where differences in substance and language will have to be hammered out.The Bush administration has said that it will work at the conference stage to ensure that the final legislation is within the parameters of what President George W Bush and Singh agreed in July 2005."Singh has put himself in a good position for now, having addressed domestic concerns by sending a loud and clear message to the US that India will not go beyond what has already been agreed upon," Suri said in the his latest scholarly presentation.... | |
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