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| January 21, 2009 |
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local news
CU funding four energy projects
BOULDER - The University of Colorado has selected four projects for funding under a new partnership between the University of Colorado's Technology Transfer Office and the CU-Boulder Energy Initiative.
These grants, known as 'proof of concept' grants, are designed to fill a funding gap between basic research funding and industrial commercialization of technology, and will help move CU-Boulder renewable energy and clean tech inventions toward commercial readiness.
Projects were selected for funding using a competitive internal application process. The winning grant proposals were:
Conrad Stoldt, "Optimization of Silicon and Germanium Nanocrystal Solar Cell Architecture for Large Scale Manufacturing and Commercialization" - improved nanoscale materials for solar photovoltaics.
Chen Li, "Micro-scale Hybrid Wick Heat Pipe Cooling System for High Concentration Photovoltaic Cell" - microscale heat management for more efficient solar cells.
Will Medlin, "Bifunctional Catalysts" - efficient production of fuels and chemicals from renewable biomass feedstocks.
Amounts of the grants for the first three projects were undisclosed.
One proposal was funded as a $100,000 proof of concept investment to Ion Engineering, a newly formed company based on technology from CU-Boulder. The proposal, "Continuous Process for the Removal of Carbon Dioxide from Natural Gas and Fossil Fuel Power Plant Emissions" provides for a more efficient and effective approach to the capture of carbon dioxide and other contaminants in natural gas processing and coal-fired power plant emissions.
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$3 million budget cut proposed for Boulder
BOULDER - City officials have proposed cutting up to $3 million, or 3.6 percent, from Boulder's general budget in 2009, with an initial $2 million in cuts by the end of February due to a revenue shortfall.
Although the city's sales and use tax revenues were up about 3 percent in 2008, from a year ago, they were 2 percent less than projected in the 2008 budget.
"This reduction, which carries over to 2009, means that the city faces the challenge of starting the 2009 budget year with revenues 2 percent below projections," said City Manager Jane Brautigam in a press release. She added that the economic downturn likely would lead an additional 2 percent to 4 percent drop in revenues in 2009.
The initial $2 million in cuts in late February, and possible $1 million additional cuts later in the year would come from Boulder's $82.9 million general fund budget for 2009.
Brautigam said she would work with the city's departments and city council to determine where the cuts would be made.
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Spa changing hands, payment system
BOULDER - Jewl Patteway is in process of purchasing Sensorielle, a Boulder-based Natural Wellness Center and Spa, from Waleska Lopez.
The acquisition is expected to close Feb. 1, at which time Sensorielle will begin using a "pay-what-you-can" system.
Terms of deal were not disclosed.
A suggestive price list will be offered to customers. People will have the opportunity to decide if they can pay more or less of the given price.
Patteway, currently manager of Sensorielle, was inspired by "pay-what-you-can" from a few restaurants and a yoga studio that successfully have used this method in California. Another factor is the current economic stress.
"Our integrity and quality will remain the same, but we are confident that in these times, people need stress relief, and they are afraid to spend money," said Patteway via e-mail.
Located on 1801 13 St. Sensorielle will keep its current name and will stay green and organic. The only other planned change is the introduction of acupuncture.
On March 12 the spa will host and open house celebrating its official reopening. |
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H-P veteran new CEO at ProStor
BOULDER - ProStor Systems Inc. has named Frank Harbist as its president and chief executive officer.
Harbist, who most recently served as Hewlett-Packard Development Company LP's (NYSE: HPQ) vice president of strategy and operations, will be tasked with growing ProStor's reach in the removable disk technology industry.
He takes over from company founder Steve Georgis who stepped aside to have a more experienced person lead the company as it grows. The founder still will lead the ProStor's RDX drive and media sector acting as its general manager.
"While there are global economic challenges confronting all businesses, the creation of data and the need to properly retain information for longer periods of time continues to increase at an extraordinary pace," Harbist said in a statement.
Boulder-based ProStor develops enterprise-class removable disk storage systems.
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UCAR maintains A-plus credit rating
BOULDER - The University Corporation for Atmospheric Research based in Boulder has had its A-plus long-term rating and underlying rating affirmed this month by credit rating agency Standard & Poor's for the eighth consecutive year.
UCAR, a nonprofit consortium of 73 universities with doctorate programs in the atmospheric sciences and related disciplines, manages the National Center for Atmospheric Research in Boulder under sponsorship by the National Science Foundation. It had an annual budget of $210 million in fiscal year 2008.
In its report, Standard & Poor's cited UCAR's long and mutually beneficial relationship with the NSF, its stable and growing membership base and manageable levels of annual debt servicing (3.9 percent of budget) as reasons for its consistently high credit rating.
Dan Wilson, director of treasury operations at UCAR, said the organization works hard to maintain a high credit rating as it translates to a lower cost in debt servicing.
"Given the current tough economic conditions in the U.S. and world, we're happy to maintain our A-plus credit score and our stable rating," he said in a statement.
Kathryn Schmoll, UCAR vice president for finance and administration, said that while research funding has come under pressure in recent times, UCAR's funding sources remain committed to the organization, which signals continued confidence in UCAR's significance to the research community.
"Like many organizations in these difficult economic times, UCAR has tightened its budget and taken responsible steps to ensure continued sound financial management," Schmoll said. "Standard & Poor's stable outlook for UCAR reflects this."
UCAR also provides additional services through the UCAR Office of Programs. The wider organization has a staff of more than 1,400.
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Community Calendar
The Longmont Chamber of Commerce is hosting "Small Biz Net: Doing Business with the City," from 8 to 9:30 a.m. on Thursday, Jan. 22, at the chamber office, 528 Main St. in Longmont. Admission is free for members, $10 for nonmembers. For more information, call 303-776-5295.
The Broomfield Chamber of Commerce is hosting its "S.O.S. Stories of Survival" dinner beginning at 6 p.m. on Thursday, Jan. 22, at the Renaissance Suites, 500 Flatiron Blvd. in Broomfield. Local chamber member businesses will be featured in a "Stories of Survival" video. Admission is $65 for individuals and $500 for tables of eight. To register, go to www.broomfieldchamber.com or call 303-466-1775.
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national news
Stocks up on financial rebound
NEW YORK (Reuters) - Stocks rose on Wednesday as financial stocks rebounded after some of the latest bank earnings soothed worries about credit losses and IBM's results spurred optimism in the technology sector.
Bank of America CEO buys 200,000 shares, stock soars
NEW YORK (Reuters) - Bank of America Corp Chief Executive Kenneth Lewis spent about $1.2 million to buy 200,000 common shares on Tuesday, four days after the largest U.S. bank posted its first quarterly loss in 17 years.
GM loses global sales crown after 77 years
DETROIT (Reuters) - General Motors Corp reported an 11 percent drop in global sales in 2008, allowing rival Toyota Motor Corp to surpass it as the world's largest automaker for the first time.
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