Business News Archive - June 12, 2009

Historic Second 100th Running Of The Gold Cup Brings Speed, Excitement To Detroit's Riverfront DETROIT, June 12 /PRNewswire/ -- The Detroit River turns into the "Super Bowl" of powerboat racing with the 2009 Chrysler Jeep Superstores APBA Gold Cup races July 10-12 featuring unlimited hydroplane boats with 3,000 horsepower engines hitting 200 miles-per-hour and covering a football field in less than a second.

Honeywell Engaged in Developing Next Generation of Global Air Traffic Management Technology for European Air Traffic Management System BRUSSELS, June 12 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) today announced that they have been selected as one of the 15 industrial companies, Air Navigation Service Providers and Airports that joined Eurocontrol and the European Commission in the Single European Sky Air Traffic Management (ATM) Research Joint Undertaking (SESAR JU).

- Vast Experience in Key Asian Markets - TAIPEI, Taiwan and ALLEN PARK, Mich., June 12 /PRNewswire-FirstCall/ -- DIAS Holding, Inc.'s (OTC Bulletin Board: DSHL) wholly owned subsidiary, Asia Forging Supply (AFS), headquartered in Taiwan, today announced that it has named two new vice presidents - David Chen and Tamiyuki Higashi.

Kbb.com Market Intelligence Survey Shows Shoppers Likely to Change Vehicle Choices, Spending Habits as Gas Prices Rise IRVINE, Calif., June 12 /PRNewswire/ -- Kelley Blue Book, www.kbb.com, the leading provider of new car and used car information, today announces the results of the latest Kelley Blue Book Market Intelligence survey of in-market new-car shoppers on kbb.com, detailing consumers' opinions on gas prices and how they affect their purchase decisions. When asked in May 2009 what they think will happen with gas prices in the next 30 days, 87 percent of new-car shoppers said they thought gas prices would go much higher, a significant jump from the 66 percent who thought gas prices would increase just a month earlier.

LONDON, June 12 /PRNewswire-FirstCall/ -- This may be the 11th successive month of cutbacks in global airline schedules; however the rate of decline in seat capacity is lower than at any time since October 2008, reports OAG, (http://www.oagaviation.com), the world's leading aviation data business, as it releases its monthly report on trends in the supply of airline flights and seats. The world's airlines have scheduled 4% (104,216) fewer flights for June 2009 compared with the same month last year, with a 2% drop in seat capacity of 6.7 million fewer seats.

NIEUWEGEIN, The Netherlands, June 12 /PRNewswire-FirstCall/ -- In the appeal procedure the court in Rotterdam has confirmed the fine of 7,9 million euros for Ballast Nedam as imposed by the NMA (Netherlands Competition Authority). Subject of the appeal procedure was the amount of the fine for summary offences of the competition laws in the period 1998-2000.

SUNNYVALE, Calif., June 12 /PRNewswire-FirstCall/ -- Trimble (Nasdaq: TRMB) announced today it has acquired Accutest Engineering Solutions Ltd based in Derbyshire, UK. Accutest is a leading provider of vehicle diagnostics and telematics technologies for the automotive industry.

Start-up Domestic Airline Reports Steadily Growing Revenue and Lower Unit Costs SAN FRANCISCO, June 12 /PRNewswire/ -- Virgin America, the award-winning start-up airline, today reported its financial results for the first quarter of 2009.

World Energy Streamlines Strategic Procurement for World's Third Busiest Airport; Online Auction Delivers Major Cost Savings, Fair and Transparent Process DFW INTERNATIONAL AIRPORT, TX and WORCESTER, MA, June 12 /PRNewswire-FirstCall/ - World Energy Solutions, Inc.

TORONTO, June 12 /PRNewswire-FirstCall/ - The trustees of Algonquin Power Income Fund (the "Fund") (TSX: APF.UN) announced today that they have entered into a unit-share exchange support agreement (the "Agreement") to support an offer which will provide the Fund's unitholders the opportunity to exchange their trust units of the Fund, on a one-for-one basis, for the common shares of a corporation ("Algonquin Power Inc."). "The Board of Trustees and the Manager believe that the conversion of our unitholders' interests into shares of Algonquin Power Inc.

Word of the Day
  • A handkerchief.
  • Specifically— The legendary sweat-cloth; the handkerchief of St. Veronica, according to tradition miraculously impressed with the mask of Christ; also, the napkin about Christ's head (Johu xx. 7).
  • In general, any miraculous portrait of Christ.
The word 'sudarium' comes from a Latin word meaning 'a handkerchief'.