|
|
 | |
| | Back to List
|
| | 04/10/2007 |
| |
|
| | |
| | |
| | The May Report: 04/10/2007: Mary Dicig leaves UIC's Office of Technology Management / Mark White on his firm, Coaccession / UIC's Optimal Vision wins San Fran competition
|
| | April 10, 2007
The May Report: 04/10/2007: Mary Dicig leaves UIC's Office of Technology Management / Mark White on his firm, Coaccession / UIC's Optimal Vision wins San Fran competition
Editor and publisher: ron@themayreport.com, ronaldmay@aol.com, 773-525-3944
________________________________
****************************************
Biopic: Biotechnology Update 2007
Presented by MIT Enterprise Forum Chicago
WHEN: Tuesday, April 17, 2007 from 5:00 - 8:00 pm
WHERE: Drinker Biddle Gardner Carton LLP, 191 N. Wacker Dr, Suite 3700,
Chicago, IL
COST: Free to members, $30 for non-members
REGISTRATION: www.mitefchicago.org
MEDIA CONTACT: Joel Berez: joel@chessclub.com
THE PROGRAM
In our April 17 Biotechnology Update 2007, our world-class panel of
experts will examine the "near-sighted" and "far-sighted" views of biotechnology innovation from the regional perspective, legal perspective, venture capital perspective, and an agriculture perspective for the coming year
-- with an emphasis on the position of the Chicago and Illinois innovation in those fields--
answering such questions as:
* What are the outlooks for the VC, legal/tech transfer, and agriculture markets?
* What is the general outlook for the economy - local and national - for 2007?
* What trends did we see in 2006 which we expect will continue or influence
biotechnology innovation over the coming year?
* What does this mean for Chicago and Illinois?
Confirmed speakers include:
Mr. Phil Shane, President and CEO, Praire Gold, Inc.
Prairie Gold is a technology spin out from the University of Illinois created to fully develop and commercialize a patented corn oil and protein extraction process, (COPE process), licensed from the University of Illinois, including ethanol as an alternative fuel.
Mr. Shane has been the Market Development Director for the Illinois Corn Marketing Board (ICMB) and the Illinois Corn Growers Association (ICGA) since 1993, and, in 2002, Mr. Shane was selected to co-author a comprehensive study entitled "The Economic Potential for Ethanol Production Expansion in Illinois" for a combination of state and federal agencies, and in 2004 he also co-authored a paper for the Council for Agricultural Science and Technology (CAST) entitled "Penetrating the Commercial Marketplace with Bio-energy". Mr. Shane served for five years as an advisor to the Biomass Technical Advisory Committee for USDA and for USDO
Biopic: Biotechnology Update 2007
Presented by MIT Enterprise Forum Chicago
WHEN: Tuesday, April 17, 2007 from 5:00 - 8:00 pm
WHERE: Drinker Biddle Gardner Carton LLP, 191 N. Wacker Dr, Suite 3700,
Chicago, IL
COST: Free to members, $30 for non-members
REGISTRATION: www.mitefchicago.org
MEDIA CONTACT: Joel Berez: joel@chessclub.com
THE PROGRAM
In our April 17 Biotechnology Update 2007, our world-class panel of
experts will examine the "near-sighted" and "far-sighted" views of biotechnology innovation from the regional perspective, legal perspective, venture capital perspective, and an agriculture perspective for the coming year
-- with an emphasis on the position of the Chicago and Illinois innovation in those fields--
answering such questions as:
* What are the outlooks for the VC, legal/tech transfer, and agriculture markets?
* What is the general outlook for the economy - local and national - for 2007?
* What trends did we see in 2006 which we expect will continue or influence
biotechnology innovation over the coming year?
* What does this mean for Chicago and Illinois?
Confirmed speakers include:
Mr. Phil Shane, President and CEO, Praire Gold, Inc.
Prairie Gold is a technology spin out from the University of Illinois created to fully develop and commercialize a patented corn oil and protein extraction process, (COPE process), licensed from the University of Illinois, including ethanol as an alternative fuel.
Mr. Shane has been the Market Development Director for the Illinois Corn Marketing Board (ICMB) and the Illinois Corn Growers Association (ICGA) since 1993, and, in 2002, Mr. Shane was selected to co-author a comprehensive study entitled "The Economic Potential for Ethanol Production Expansion in Illinois" for a combination of state and federal agencies, and in 2004 he also co-authored a paper for the Council for Agricultural Science and Technology (CAST) entitled "Penetrating the Commercial Marketplace with Bio-energy". Mr. Shane served for five years as an advisor to the Biomass Technical Advisory Committee for USDA and for USDO
*******************************************
_______________________________
********************************************
Join us for the:
INDUSTRY FORUM ON PRINTED ELECTRONICS
April 23-24, 2007, Chicago, Illinois USA
Registration for this full-day event is just $75 and available online now at
www.IFOPE.org
Presenting a world-class line-up of international speakers, the inaugural
Industry Forum on Printed Electronics (IFOPE) invites you to participate in
an open discussion alongside leading commercial innovators, technologists,
end-users and venture capital executives focusing on thin film, organic, and
printable electronics.
IFOPE will showcase the world's first printed electronics memento to be
given away at a printed electronics conference: all attendees will receive a
seemingly simple 5" x 7" calendar in a clear plastic self-standing frame.
However, unlike all other calendars printed in the world's history, this
calendar will light up, thanks to electroluminescent (EL) lamps embedded in
the calendar's ink.
Peter Balbus, Managing Director of Pragmaxis, LLC and President Emeritus of
the MIT Enterprise Forum of Chicago will be the host of the event and chair
a panel on the future of printed electronics.
Organized by founding partners, UK Trade & Investment, the North of England
Inward Investment Agency, and Cenamps, IFOPE is a British-American
initiative designed to foster international collaboration in technology
advancements and commercialization.
Event partners include lead sponsor Drinker Biddle Gardner Carton LLP,
Motorola, Pragmaxis LLC, NanoMarkets, Add-Vision, IBF Conferences, and SEMI.
Confirmed speakers at IFOPE comprise a world-renowned set of business and
academic leaders in the electronic printing arena, including:
- Dr. Wasiq Bokhari -- CEO, BioIdent
- Dr. Daniel Gamota -- Director of Printed Electronics Group, Motorola, Inc.
- Dr. Neil Gershenfeld -- Director of MIT's Center for Bits and Atoms
- Dr. Bruce Gnade -- Distinguished Chair in Microelectronics & VP Research,
University of Texas at Dallas
- Phil Inagaki -- Co-founder, Polyera
- Adam Laubach -- CTO & General Manager of Functional Printing, GSI
Technologies
- Dr. Devin Mackenzie -- Director of Technology, Add-Vision
- Matt Timm -- President, Soligie
IFOPE will be a full-day event on Tuesday, April 24, held at the world-class
conference center of Drinker Biddle Gardner Carton LLP, 191 North Wacker
Drive, Suite 3700, Chicago, Illinois, preceded by an opening evening
reception on April 23, to be hosted by Her Majesty's Consul General, Andrew Seaton.
Register today as space for the opening reception is limited and almost sold
out. Registration for the entire event is just $75 for a limited time.
IFOPE is open to all who share an interest in advancing the
commercialization of the exciting, emerging technology of printed
electronics.
Register today at www.ifope.org
Questions? Call Gail Nicoll at 312 970 3835
****************************************
__________________________________
*********************************************
nanoTX’07 Reports Brisk Early Registration!
Business, academic and government people with nanotech interests from North
America, Europe, and Asia are registering in record numbers to converge on
Dallas during International Nanotechnology Week at nanoTX’07, being held at
the Dallas Convention Center October 2-4, 2007.
The conference provides a unique perspective on the current state of both
the markets and technologies associated with nanotechnology, with particular
emphasis on those areas where clear trends and business opportunities are
emerging.
This international event is widely known by its theme: The Promise of
Tomorrow—The Global Business of Nanotechnology.
More than 125 world-class speakers will be presenting their perspectives on
the current state and future of nanotechnology and its impact on energy,
electronics, consumer goods, biotech and medicine, aerospace,
transportation, manufacturing, advanced materials and more. Key
environmental, health and safety aspects will also be covered.
Participants at nanoTX’07 will learn:
* What NASA’s plans are for a permanent lunar base in the coming decade and
the role nanotechnology will play in its realization
* What the key emerging nanotechnology trends are in energy, electronics,
robotics, life sciences, homeland security, materials, manufacturing, etc.
* Separating the hype from reality – what’s real? What’s not?
* What the most recent developments are in the US, Europe, Asia and other
countries around the world
* How virtually every major industry will be impacted by the emerging
nanotechnology revolution
Sponsorships and exhibit space are available but being booked quickly.
For more information or to register, please visit www.nanotx.biz
*****************************************
______________________________
TABLE OF CONTENTS
The Scoop section:
-- Briefly noted, by Ron May
-- Deals:
-- FermiLab's large Hadron Collider way behind schedule
-- From Layton Olson: TED (Telecom & Econ Development) is coming!: Real Estate, Digital TVs & Virtual Illinois
-- Advanced Diamond Technologies Named as Finalist for the Red Herring 100 North America 2007 Awards
-- A Ron Kirschner event April 19th:
"Getting Around Their Patents…and Yours"
-- Zocalo Group Launches Today, New Agency Focused On Creating Sustainable Word Of Mouth And Customer Evangelism
-- MVC Capital Announces the Appointment of Warren E. Holtsberg to the Fund's Board of Directors
-- WAS the auction for Tribune rigged in Samuel Zell's favor?
-- ACA angel groups forecast increased investments after growth year in 2006
-- ITA Announces Finalists for Eighth Annual CityLIGHTS Awards
1. READERS' COMMENTS AND RESPONSES
1a. Gardi Wilks: Overthrow Wall Street & Take Back Your Future-InOp
1b. Christian Mitreanu: An Innovation Framework for the Media Business (Old and New)
1c. Bob Ingersoll: Has gone back to working for Melo at dChain
1d. Jen Lane: Thanks for the thank you
1e. Jeff Meredith: Top 5 Friedman-isms
2. SPECIAL REPORTS AND FEATURES
2a. Mark White and Coaccession Company: The business explained and the model explored
[Editor's note: May here. Mark, thanks! I wish that every entrepreneur with patentable IP would come forward and make this kind of attempt to explain his or her business. I am not an expert, but I do think Coaccession may have been one of the hidden jewels in the crown at the Fast Pitch competition. Mark, you may be like the woman who did not win American Idol, but did win an Oscar.]
______________________________________
***************************************
Can your mortgage guy say the following?
- Brings five 9s reliability to the mortgage business
- Has a vertically integrated Salesforce.com implementation, and isn't afraid to use it
- Has a top rated mortgage blog, kitmueller.com, that’s read from MIT to Sand Hill Road
- Performs quarterly reviews to maintain a proactive approach to your overall mortgage plan
- Maintains a client for life approach that includes an advisory panel of Realtors, Attny's, and other experts
- Has successfully used mortgage planning in concert with clients' pre-money capital raising efforts
- Knows, firsthand, this is too many points for an elevator pitch
If not, contact Kit Mueller at 312.379.3542 or kmueller@mobiumgroup.com
*****************************************
___________________________
*******************************
INTERNAL INVESTIGATION: BURIED "TREASURE" - PART SIX
The online computer reseller confirmed that it had been a return. Forensicon wiped the drive clean and returned it to the firm. Forensicon's experts cleared the architectural firm's reputation along with Malcom's good name. The company reinstated Malcom immediately and provided the client with a copy of Forensicon's report.
--------------
Forensicon specializes in conducting computer forensics nationwide pertaining to internal investigations, employment litigation and intellectual property misappropriation.
888-427-5667 * http://www.forensicon.com * contact@forensicon.com
**********************************
__________________________________
***********************************
SingleHop - Transparent Managed Hosting
We'll keep this one simple. SingleHop is Chicago's transparent
managed hosting expert. We rent servers and then manage them so you
don't have to. If you want to learn more, contact Drew Hulbert at
1-866-817-2811 for more info -- and if you decide to order, make sure
to tell drew you found us in the May Report -- we'll give you your
first month of any dual processor server for half price!
Toll free: 1-866-817-2811 | Website: www.singlehop.com
************************************
_______________________________
*************************************
MYSTERIOUS WORLD: IRELAND
Take a journey to mysterious Ireland with Mysterious World: Ireland. Relive the ancient past through the eyes of the Celts as they invaded the sacred isle in search of their destinies. Learn about the supernatural exploits of Saint Patrick as he turned the world of ancient Ireland upside down. Discover the truth about the leprechaun, and all the myths and legends of ancient Ireland. You can use Mysterious World: Ireland to visit Ireland either on your next vacation, or from the comfort of your own home. Available at Amazon.com, or through a bookstore near you. Or, call 1-800-247-6553, visit http://ireland.mysteriousworld.com, or http://www.ireland.mysteriousworld.com
************************************
_______________________________
********************************
Are the accuracy levels of your CRM packages hampering your Sales & Marketing efforts?
SaleBuild is offering a two week Data Health Check & CRM Truing Service to assess the level of accuracy of your existing CRM data at $2,500. The executive summary includes the number of incorrect contacts, emails & physical addresses that are incomplete. Information updated includes replacement contacts names, titles, phone numbers, email addresses.
SaleBuild has a very cost effective approach that encompasses using the right mix of a combination of off the shelf tools, in house developed tools and aggressive calling to confirm the validity of data, updating and replenishing followed by recreation of the data in a very accurate & consistent format. We offer a guarantee on our CRM services.
Other CRM Practices include Target Account Profiling - collect additional Business Intelligence Data points such as current standards, map title to functional responsibility, ongoing projects / upgrades etc to build out the data in your current CRM and our Constant Updating Service– Quarterly review, confirmation, replacement or augmentation of data that has not been touched in the last three months, keep your data current. Shared, assigned resources - Research Analyst, DBA & CRM Specialist, Managing Consultant @ $25 - $50K a year all combined & all inclusive depending on size of database.
Call our CRM Consultant Hotline for further details on the Data Health Check Two Week Assessment at 888 281 9427 for a free consultation or email sales@salebuild.com
***********************************
_______________________________
The Scoop section:
___________________
Briefly noted, by Ron May
* I got a call from Mary Dicig Friday morning. She told me that she is transitioning out of her job as the head of UIC's OTM, Office of Technology Management. She will be working part-time over the next three to four months as they find a replacement, she said. In the meantime, David Gulley will take over on an interim basis. Mary explained that her limited time in this job was planned from the get-go. She did not want to make a career out of what she called public service.
We discussed some of the changes that Mary made while she was there. First, she restructured the organization. They had been organized around the different technology disciplines with technology commercialization staff for each area, i.e., engineering, medical, etc.
Several people were effected by these changes. Dan Marsalle and Lanny Feder are two folks who left because of the changes.
What Mary did was move toward a data analytics approach. To accomplish this, she established a close relationship with the UIC business school and she utilized UIC MBA students and recent MBA grads. The students, who are working full-time, as I understand it, take each area of technology in which disclosures are made by the professors and what is called the PIs (Principal Investigators) and subject that technology to a rigorous analysis along the lines of what a Gartner or a Meta Group might do.
The people they hired to do this not only had MBAs or MBAs in progress, but they also had technical degrees. "They usually had a year left to go in business school," Mary said. They were trained to be technical analysts.
Some of the tools that the technical analysts were trained in included patent mapping and citation analysis. They look at things like how often an article is cited and where it is cited if there is no patent. If it is cited by 47 big firms, that is an encouraging sign, but if it is just cited by 13 universities and no companies, that is a sign that it may not be ready for commercialization, Mary explained.
The system that Mary has put in place has saved a lot of money and is much more cost efficient, she told me. Under the old system, they would have to hire outside consultants and that could run up to $10,000 for an evaluation of a technology disclosure. But under the system that Mary has put in place, and she has the calculations down to a science, it runs about $1,300 for an evaluation. That $1,300 figure includes the cost of salaries, data bases and other overhead expenses. So, by bringing the skills in-house, a great deal of expense has been saved, Mary said. Also, this approach is much more systematic, rigorous, and scientific, I gathered.
One of the innovations that Mary takes pride in is that UIC has pioneered a close relationship between the Office of Technology Management and the business school.
Mary mentioned that a firm I am familiar with, Optimal Vision, which presented in the Fast Pitch competition and came in second (winning $3,000, I believe) just won the San Francisco competition. I am trying to get a formal notice on this for you. Congratulations to Optimal Vision!
Mary said that Dr. Shrijay Vijayan is the scientist behind the technology.
Mary says that things are operating pretty well by themselves at the UIC OTM. As you may know, Mary's old boss, David Chicoine, left the U. of I. system and has taken a job as president of a university in his home state of South Dakota. Jim Weyhenmeyer is filling in on an interim basis for Chicoine.
As a standard caveat, I have no independent sources on this story to tell me if Mary's version of what is going on is generally agreed upon. I don't know independent of what Mary told me if her reforms are generally regarded to be good ones or if there are any dissenters. I don't know if the policies and procedures she put in place will be continued as they stand or if they will be modified. I don't know much here outside of what Mary has told me.
Mary and I talked about some of her previous jobs. She worked for Spirian, under Al Wasserberger; Business Logic; Schwartz Cooper, and for a while she was also on her own as an independent. Mary, I think you left one job off your list in our conversation. My understanding is that you worked for Gardner Carton (now Drinker Biddle Gardner Carton) for a short time, but that was some time ago.
Mary's last day as a full-time person at UIC is this coming Friday, April 13th.
Here is an email exchange I had with Mary Monday morning.
+++++++++++++++++++++
Subject: RE: Mary, what is the correct spelling of Jim Wehnemeyer's name?
Date: 4/9/2007 10:43:01 A.M. Central Daylight Time
From: mdicig@uic.edu
To: RONALDMAY@aol.com
Weyhenmeyer. He is interim Vice President for Technology and Economic Development (the job David Chicoine had).
After the 15th of April, David Gulley will be the Interim Director of the Office of Technology Management, in addition to his other jobs. I will become a Sr. Technology Analyst and go part time to assist in the transition as needed.
David Gulley’s phone number is 413 3825, Jim’s is 217 265 5440.
* No more phone calls-- ideally -- and no new stories or distractions from now until 3pm on Thursday, please. That is when I need to get ready for the ITA CityLIGHTS awards dinner. I also plan to stop by late in the evening at TechCocktail at John Barleycorn's near Wrigley Field. Talk about being plowed under!
OK, since the last report, I attended the second and last day of the two day conference called Social Media held at the Sheraton. That was Friday.
I am sorry that I missed Thursday. Eric Olson of Feedburner gave a talk Thursday night and the organizer, Bob Chiarito , sent me his slides.
I had a long talk with Bruce Montgomery today and more on that next time. One of the first things we discussed was this: CityLIGHTS Award: Given to an individual that has made a significant impact on the Illinois technology community.
- Dick Reck, President, Business Strategy Advisors
- Brad Spirrison, President, MidwestBusiness.com
- J.B. Pritzker, Partner, New World Ventures
My comment to that is "Where is the new blood here?" Dick, what have you done lately aside from sit on boards and ski? J.B., at least you spearheaded the effort behind the new seed fund and invested in Firm58, TicketsNow, and some other folks. Brad, no offense, buddy, but what was your significant contribution again? I may have missed that Pulitzer article?
Aren't we recycling a bit? Not just in this category, but in several others? Cleversafe I can see, but Authentify? But my conversation with Bruce spanned the gamut and the thrust of it was the need to "bulk up" across organizations and see more collaboration and a shared strategic vision. We have more than we used to, but we still have a long way to go. We need to collectively put some pressure on the powers-that-be, Mayor, Governor, etc. And while guys like Howerton, who is a pretty small fish, have been trying to get things done, where are the guys with the deep pockets? We need to get more of the big boys involved. And we talked about much more. TechCocktail was not started by Eric Olson and Frank Gruber for no reason at all. They saw a need, a gap they were trying to fill. Each local group or organization can rise above where it is right now and reach for something bigger, much much bigger. In the back of my mind are the truly inspirational comments this morning by the Rutger's women's basketball team. That was quite uplifting. I think we can all learn from the spirit of these young women.
* So, allowing for three hours of sleep per night, here is what I want finish by Thursday at 3pm.
1. Calamos talk and the people I interviewed, March 21st
2. ANET party, March 22nd
3. AthenaVerify, March 12th along with discussion after the meeting with Adarsh Arora which ties into #4 heavily
4. TiE panel -- content of what was said, Feb. 26th
5. Fast Pitch, four or five of the 68 presentations and Howard Tullman's talk in detail, Feb. 26th
6. RevStor and Smart Spark from the ITDA, Feb. 26th (I am skipping the antibody firm because it is too complicated to explain -- or understand)
7. MEF meeting from April 9th, especially PENS run by Greg Padovani [Greg, I will run your letter in the next report and great conversation last night, buddy]
8. eNR
9. A quickie overview of what I learned at the Social Media conference like watch out for the iTunes stats. They are just showing new sign-ups for podcasts, not total subscribers, and I learned from people from Canada to California, that Feedburner really is a major player in the blogosphere. It is nice to hear it from those outside of Chicago.
10. A whole slew of trivia and odds and ends including details on Shanghai; Ron May, the survivor of the UAL crash in Sioux City, Iowa; the 43 firms that have gone bankrupt in the sub-prime mortgage market; Michigan economic development ads; HB1500 and all the money being spent on promoting it and more.
* Dr. Richard Burke of Northwestern's medical school is being featured right now (5:50pm) on NBC Nightly News for his work on Type I diabetes and some advances he is working on. More on this later. Some criticims in the report on the riskiness of the research. He has freed some Type Is of having to take insulin.
Lastly, there is some kind of event tomorrow morning (Wednesday) at Baker McKenzie but I can't see how I can make it. This is a Mensik thing.
_________________________________________
*********************************
Formal dining room set for sale: includes mahogany table with end leaves and 6 chairs; server; china cabinet, and two oriental rugs 10 x 13 all for sale-pictures available immediately-all purchased at Marshal Fields in 2003-I am downsizing and need to sell. Also have couches, coffee tables, love seats. Prices vary, so email for pricing.
Jeff
jw@graphpack.com
************************************
________________________________
************************************
Moving or Relocating???
A beautiful home for sale in Orland Park, Il 60467
http://realtor.com/Prop/1077758373
Mention this add and get an additional $1000 off the negotiated price.
Call Paul May - 708-479-1111
*************************************
_____________________________
******************************
NANNY AVAILABLE!!!
Looking to nurture and baby-sit your child. If you would like this loving, caring woman to take care of your child and are interested, please call or email me. I have a car and a valid driver's license.
Middle aged, English/Polish speaking nanny looking for a young child to look after in the [LAKEVIEW/LINCOLN PARK/DOWNTOWN] areas.
Mother of 4 with experience. Worked with children in schools, previous nanny jobs.
START DATES AND TIMES TO BE SETTLED.
EMAIL:
mirusia26@interia.pl
PHONE:
773-574-3673
********************************
______________________________
Deals:
_____________________
Cinemark Holdings Inc., a Plano, Texas-based movie theater chain, has set
its proposed IPO terms to 28 million common shares being offered at between
$17 and $19 per share. It plans to trade on the NYSE under ticker symbol
CNK, with Lehman Brothers serving as lead underwriter. Madison Dearborn
Partners holds a 66.3% pre-IPO take, while Quadrangle Group holds 7.1
percent. www.cinemark.com
++++++++++++++++++++++++++++++++
Thoma Cressey Bravo has agreed to acquire Embarcadero Technologies Inc.
(Nasdaq:EMBT), a San Francisco-based provider of data management solutions.
The total deal is valued at approximately $200 million, with Embarcadero
stockholders to receive $7.20 per share. Morgan Stanley advised Embarcadero
on the deal, while Wells Fargo Foothill has committed to provide leveraged
financing. Thoma Cressey had previously agreed to acquire Embarcadero at
$8.38 per share, but the deal was canceled late last year, after Embarcadero
disclosed evidence of stock option backdating and a restatement of
historical financials. http://www.tcb.com/ http://www.embarcadero.com/
++++++++++++++++++++++++++++++++
Dow Chemical Co. (NYSE: DOW) could receive a $50 billion buyout offer later
this week, according to London's Sunday Express newspaper. The buyout group
reportedly includes KKR and a group of Middle Eastern investors, and is
being advised by JPMorgan. News of the possible buyout has sent Dow stock up
sharply, with the offer expected to be for between $52 and $58 per share
(closed at $44.47 per share on Thursday). If the report is accurate, it
would be the largest leveraged buyout in history. www.dow.com
++++++++++++++++++++++++++++++++++
Audax Group has acquired a control position in A&A Manufacturing Company
Inc., a New Berlin, Wis.-based designer and manufacturer of
highly-engineered and customized protective systems such as accordion
bellows and way covers. End-markets include mobile equipment, automation,
machine tool, transportation and medical equipment. No financial terms were
disclosed for the deal, which was done in partnership with company
management. A&A was advised on the sale by Robert W. Baird & Co., while GE
Antares Capital led the leveraged financing syndicate.
http://www.audaxgroup.com/
+++++++++++++++++++++++++++++++++++
American Industrial Partners has acquired the Quality Measurement division
of Illinois Tool Works Inc. (NYSE: ITW). No financial terms were disclosed
for the deal, which included leveraged financing from GMAC Commercial
Finance and Goldman Sachs Specialty Lending. The Quality Measurement
division has been renamed Micro-Poise Measurement Systems LLC, and is an
Akron, Ohio-based provider of process control and quality assurance for
manufacturers of tires, wheels and powertrain components.
++++++++++++++++++++++++++++++++++++
Dice Holdings Inc., an Urbandale, Iowa-based provider of specialized career
sites and career fairs, has filed for a $100 million IPO. It plans to trade
on the NYSE, with Credit Suisse and Morgan Stanley serving as co-lead
underwriters. Dice has been owned by General Atlantic and Quadrangle Group
since August 2005. www.dice.com
+++++++++++++++++++++++++++++++++++
Molecular Imprints Inc., an Austin, Texas-based nano-imprint lithography
company, has raised $8.5 million in venture debt financing from BlueCrest
Capital Finance. The company previously raised around $50 million in VC
funding from firms like Alloy Ventures, Asset Management Co., DFJ, Harris &
Harris Group, KT Venture Group, Motorola Ventures, Lux Capital and Dai
Nippon Printing Co. www.molecularimprints.com
+++++++++++++++++++++++++++++++++++
Meditrina Pharmaceuticals Inc., an Ann Arbor, Mich.-based drug startup
focused on women's health, has raised $4.4 million in first-round funding
from the 21st Century Jobs Fund and the Biosciences Research and
Commercialization Center at Western Michigan. The company's lead product
candidate is an aromatase inhibitor that is being repurposed for the
treatment of endometrial thinning prior to endometrial ablations in
pre-menopausal women with abnormal uterine bleeding. www.meditrina.com
_________________________________________
FermiLab's large Hadron Collider way behind schedule
The folks at Fermilab who built the two dozen 20-ton magnets that power a
17-mile-long particle accelerator at the CERN laboratory in Switzerland. The
machine, the Large Hadron Collider, aims to recreate the conditions of the
Big Bang, about 14 billion years ago, and it was due to start up in
November. That schedule went by the boards, however, when during recent
testing there was an explosion down in the tunnel that ripped one of those
magnets off its moorings, filled the area with helium and sent researchers
scurrying (presumbably squeaking orders in urgent, high-pitched voices).
And the problem? Math errors back at Fermilab. An embarrassed Pier Oddone,
director of Fermilab, told his staff they had caused a pratfall on the world
stage. We are dumbfounded that we missed some very simple balance of
forces," he said. "Not only was it missed in the engineering design but also
in the four engineering reviews carried out between 1998 and 2002 before
launching the construction of the magnets. They have my sympathy.
__________________________________
From Layton Olson: TED (Telecom & Econ Development) is coming!: Real Estate, Digital TVs & Virtual Illinois
From: Layton E. Olson [leo@howehutton.com]
To: Layton E. Olson
CC: gsanders@nipc.org
Subject: TED (Telecom & Econ Development) is coming!: Real Estate, Digital TVs & Virtual Illinois
Sent: Fri 4/6/2007 11:21 AM
Communication media colleagues,
Below is memo on real estate-related matters concerning telecommunication revolution -- from wi-fi to grid computing and the need to be ready this year for major outreach to Chicago neigborhoods, chambers of commerce and the like.
To prepare for
Digital TV transition, City's 10 Wi-Fi contract and Planning for Fiber for the future of Chicago as Internet Crossroads of the World. I would be glad to provide information until April 20-May 19 when I will be in China, among other things to look at telecommunication and electronic mapping and planning tools in Shanghai and Beijing.
Meanwhile, I encourage you to attend the May 4 Data Sharing event featuring the experience of Washington, D.C. in linking 150 city agency data sets for real time cooperation of digital-government-in-action. See next steps #3 event at Chicago Metropolitan Agency for Planning in Sears Tower, hosted by Greg Sanders. CMAP (old NIPC now merged with CATS)
assists City of Chicago and others in their community development website activity. Layton Olson
_________________________________
Real estate and community development colleagues,
We are in the middle of the age of Telecommunication in Economic Development (TED) in Illinois and in the World, involving planning and financing telecommunication infrastructure and services to spur citizen and economic productivity. We know current Internet (.5 to 5 mb per second) is growing to Mid Speed Internet (up to 30-50 mpbs) for many business/logistical centers and for all residents in cities like Ft. Wayne, In., in Paris, and in fiber plans for San Francisco. High Speed Internet (100 mbps and more) is used today by research labs and universities, and will soon be coming to U.S. and Worldwide Information Superhighway linking first with business centers and then with neighborhoods and rural communities. Real estate-linked challenges include:
1. Digital TV is coming, and it-- and other information and communication technologies (ICT) -- will affect the value and productivity of every parcel of real estate in Chicago. Whether residential, business, nonprofit institution or public use parcel.
2. Every telecommunication node -- or stationery address at a parcel or in a mobil path -- provides information to and about uses and outcomes of families, businesses, institutions, public places or natural resources. The number of nodes will grow substantially in coming years under the City's 10 year Wi-Fi contract that is planned to be signed later this year, and will provide affordable broadband to 95 percent of Chicago residential and commercial parcels, and will have access to up to 150,000 traffic, light and other public right-of-way fixtures.
3. Data about real estate parcels, structures and underground/air properties is combined with telecommunication node data to create "virtual maps" of our city, usable in real time -- such as in digital government or real estate transactions -- and in archiving the past and modeling the future to plan for personal, community, economic and natural resource productivity.
So, where do we go from here?
1. See below for neighorhood planning level focusing on the coming of Digital TV now through March 2009, with cable Digital transmission starting in some areas of Chicago in April 2007. Get ready for outreach activities in summer-fall 2007 by housing, community development and electronic product recycling centers, especially to reach 15% or more of Chicago residents who do not have cable, satellite or HDTV reception.
2. Stay tuned after the April 17 City Council run-off elections for the release of the Digital Inclusion and Excellence report of the Mayor's Advisory Council on Closing the Digital Divide, addressing the telecommunication needs for Inclusion of all residents, business services, education and government services.
3. Consider attending on May 4 Chicago Data Exchange session on Government Data Sharing in the Information Age, as offices of Chicago Metropolitan Agency for Planning in Sears Tower, 233 S. Wacker, Suite 800, 9:30am - 11:00 am. The event for government agencies and nonprofits features presentation by the office of the Chief Technology Officer, District of Columbia on "Washington DC's CapStat system: transparency and interoperability in real time," in which shared real-time access to more than 150 data sets, CapStat allows District agencies to perform better, and allows residents to access data via RSS feeds, improving government accountability. For info: visit www.chicagodataexchange.net or contact Greg Sanders at 312-386-8613 or email gsanders@cmap.illinois.gov
________________________
News item from MID-NORTH NEWS
A Newsletter published by the Mid-North Association Winter/Spring 2007
Digital TV is Coming!
Cable companies are converting in April 2007. Free Digital TV Converter Box Coupons will be available beginning January 2008.
Beginning in April Comcast is beginning cable transmissions by Digital means in the Mid North area, and has begun a major outreach campaign to have cable customers install digital converter boxes by April 10. For persons who do not already have cable Digital converter boxes, one free converter box is available for each customer, and others are available for $5.99 per month. Converter boxes are available free by calling Comcast for a limited time to waive the distribution fee or from Comcast offices in other parts of the City.
In addition, beginning in January 2008, free converter box coupons will be available in nationwide campaign focused primarily on the estimated 15 percent of Americans who today have neither cable, nor satellite transmission nor HDTV's.
Background: Shortly after Super Bowl in 2009, all such "analog" TV's will go blank, as the US begins full scale High Definition television broadcasts. Cable-enabled TV sets are expected to be converted by cable companies from now through 2009. However, many homes with cable TV have "old TVs" not connected to cable, or may not wish to pay a monthly fee for a cable converter box for the second or third TV set.
Congress has provided almost $1 billion to help old analog TV's receive digital TV transmission. Beginning January 1, 2008 each household in the U.S. will be eligible to receive 2 $40 value coupons to buy converter boxes. The U.S. Postal Service will help process the coupons which will be available through March 2009. There will be need for local outreach on how to get coupons, how to be sure that they are used within an 90 day expiration period, and to be sure they are installed and tested.
So, stay alert for publicity that will begin shortly, including during this summer's outdoor street fair season. The Planning Committee of Mid North Association will keep you posted, or you can go to FCC's www.dtv.gov. Background is also available on www.benton.org the website of Benton Foundation which is national leader in improving broadcast and telecommunication services to all. We expect that several community outreach groups, and local suppliers of converter boxes will help all persons understand the program, and how to confirm with cable and satellite providers that their conversions will work. Of course, expect to hear about great opportunities to buy a HDTV, how to sign up for extra monthly-fee converter boxes, and how to donate or discard old TVs in environmentally friendly ways.
Mid-North Association Summer Fest is coming June 23-24
Mid-North Association of Lincoln Park is hosting the MNA’s annual Summer Fest. This year’s festival will be held Saturday and Sunday, June 23rd and June 24th on the block of Lincoln Park West/Clark St. between Armitage (2000 N.) and Dickens by Lincoln Park Cultural Center. For information, call 773/296-1721 or info@mid-northassociation.org.
___________________________
Layton Olson
Layton E. Olson, Esq.
Howe & Hutton, Ltd.
20 N. Wacker Dr., Suite 4200
Chicago, IL 60606
312-263-3001 Fax: 312-372-6685
leo@howehutton.com
www.howehutton.com
www.acnconsult.org
__________________________________________
Advanced Diamond Technologies Named as Finalist for the Red Herring 100 North America 2007 Awards
Subject: Advanced Diamond Technologies Named as Finalist for the Red Herring 100 North America 2007 Awards
Date: 4/6/2007 8:55:32 A.M. Central Daylight Time
From: nkane@thindiamond.com
To: ronaldmay@aol.com
FOR IMMEDIATE RELEASE
ADVANCED DIAMOND TECHNOLOGIES
NAMED AS FINALIST FOR THE PRESTIGIOUS
RED HERRING 100 NORTH AMERICA 2007 AWARDS
Romeoville, IL- April 6, 2007— Red Herring announced that Advanced Diamond Technologies, Inc. (ADT), the world leader in developing and applying diamond films for industrial, electronic, mechanical, and medical applications, is a Finalist for the Red Herring 100 Award—recognized as one of the leading 200 private technology companies in North America.
Entrepreneurial achievements and pioneering products such as diamond-based microsystems and nanoprobes, durable low-friction mechanical seals for pumps, and its award winning DoSi family (diamond-on-silicon) of wafer products were the basis for ADT's selection. Evaluations were made on both quantitative and qualitative criteria such as financial performance, innovation, management, strategy, and
"We are honored to be considered among the ranks of the world’s most promising companies driving the future of technology innovation," said ADT president Neil Kane. "This recognition substantiates ADT's leadership role in the application of ultrananocrystalline diamond (known as UNCD®) in a variety of industries including energy, biotechnology and information technology—changing the way we work, live and communicate."
"We can see the exciting evolution of the technology sector reflected in the quality and variety of exceptional companies that we had to choose from in putting our list together," said Joel Dreyfuss, Editor-in-Chief of Red Herring. "It was tough to choose just 200 finalists from such a large list of excellent contenders, and we are very happy with the qualities of the companies we selected as Finalists."
The winning 100 companies will be announced at the Red Herring 100 Spring event in Monterey, California, on May 1-3, 2007 at the Hyatt Regency Hotel. The CEOs of the winning companies will present their innovative ideas and technologies to an audience of leading entrepreneurs, financiers, and corporate strategists. This year's invitation-only event marks the 10th anniversary of the Red Herring 100 Awards.
About Advanced Diamond Technologies
Formed in December 2003 to commercialize the ultrananocrystalline diamond technology developed at Argonne National Laboratory (Argonne), ADT is the exclusive licensee to Argonne’s portfolio of patents for synthesizing and using UNCD and has received generous support from the National Science Foundation through its Small Business Innovation Research (SBIR) program, U.S. Department of Energy, and the Defense Advanced Research Projects Agency (DARPA). ADT is a World Economic Forum 2007 Technology Pioneer, and in 2006 ADT received Frost & Sullivan’s Product Innovation of the Year award and Nanotech Briefs' Nano 50 award, as well as being a runner-up for the Wall Street Journal’s Technology Innovation Award.
About Ultrananocrystalline Diamond
UNCD, synthesized in thin-film form using a patented growth process originally developed at Argonne, is known for its ability to seamlessly integrate with other materials. Comprised of diamond grains that are 3-5 nm in diameter-a billion-fold smaller in volume than in traditional diamond films—UNCD has many of the desirable characteristics associated with diamond, such as hardness, conductivity and inertness, as well as several distinctive properties, including mirror smoothness and low-temperature synthesis that is compatible with traditional semiconductor manufacturing processes.
For more information on ADT and its UNCD technology visit http://www.thindiamond.com
About Red Herring
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy.
More information about Red Herring is available on the Internet at http://www.redherring.com
Calyx Consulting
Jill Jackson
email: info@calyxconsulting.com
phone: 312.231.9870 Red Herring, Inc.
Olle Binkhorst
email: obinkhorst@redherring.com
phone: 650.585.3418
UNCD is a registered trademark of Advanced Diamond Technologies Inc.
___________________________________
A Ron Kirschner event April 19th:
"Getting Around Their Patents…and Yours"
From: Ron Kirschner [ron.kirschner@comcast.net]
To: Ron May
Subject: I don't know if you received this.
Sent: Mon 4/9/2007 8:45 AM
For Immediate release
For Further information:
Ronald L. Kirschner
Ron.kirschner@comcast.net
847-675-3057
"Getting Around Their Patents…and Yours"
As patents become the real value of a company, finding ways to extend your company's intellectual property is both a science and an art. The topic of "Getting Around Their Patents…and Yours!" will be moderated by Joel Bock, Partner in the Venture Capital/Emerging Growth Company Group of Sonneschein and discussed by a panel consisting of attorneys: James A. Scheer, principal at Welsh and Katz, Jacob Koering, associate in the Litigation practice group of Freeborn and Peters, and Daniel P. Albers, partner and head of the Chicago IP Litigation Group of Barnes and Thornberg and technical specialists: Andy Trzeciak (telecommunications) and Jonas Moses (bioscience) at the Illinois Science & Technology Park, 8045 Lamon Street, Skokie, on April 19, 2007 starting at 6:45 PM.. This is the first installment of a four-part series on Midwest Technologies sponsored by Heartland Angels, a Chicago based, early-stage private equity capital investment network. Space is limited and pre-registration is required. Parking is in the building's parking garage (on Searle Parkway). Attendance sign-in will begin at 6:00 PM. The presentation will include a question and answer period. Registration and inquiries by e-mail only to: Ron.kirschner@mac.com. There will be a $10 charge payable (cash or check only) at the time of registration. Call 847-568-8420 (Building security) for parking directions if needed.
_______________________________________
Zocalo Group Launches Today, New Agency Focused On Creating Sustainable Word Of Mouth And Customer Evangelism
From: Bruce Montgomery [onepresence@yahoo.com]
To: Ron May
CC: TATV Show
Subject: Zocalo Group Launches Today, New Agency Focused On Creating Sustainable Word Of Mouth And Customer Evangelism
Sent: Mon 4/9/2007 5:23 PM
Zocalo Group Launches Today, New Agency Focused On Creating Sustainable Word Of Mouth And Customer Evangelism
4/9/2007
Zócalo Group, a new word-of-mouth marketing agency, launched today to help clients develop measurable, systematic and disciplined initiatives to create sustainable word of mouth and customer evangelism. Led by Paul Rand, formerly Ketchum’s global chief development and innovation officer, Zócalo Group marks the addition of Omnicom Group's first agency dedicated solely to word-of-mouth.
Thomas Harrison, chairman and chief executive officer of Omnicom Group's Diversified Agency Services noted that word of mouth has become a distinct and measurable part of the marketing mix. "Word of mouth and customer evangelism is increasingly becoming top of mind for many of our clients, yet the space is still being defined. Listening to chief marketing officers today, their primary interest is to first create demand for a product or service and secondly to sustain it," said Harrison. "The Zócalo Group approach provides the kind of sophisticated, rigorous and disciplined methodology that is needed to become a credible part of the marketing mix."
A member of the Word of Mouth Marketing Association's (WOMMA) executive board, Rand has been actively involved in defining word of mouth marketing as a strategic communications medium. Prior to Ketchum, Rand founded Corporate Technology Communications, a public relations agency that Ketchum acquired in 2001.
Joining Rand at Zócalo Group as a partner will be Patrick Rooney, formerly of Ketchum and most recently president of Expand Communications, along with a number of other word of mouth marketing specialists.
"Wheareas traditional word of mouth has been focused on buzz, we’ve created proprietary methodologies that help companies, brands and organizations identify and build sustainable connections and drive word of mouth beyond their 15-minutes of fame," said Paul M. Rand, president and chief executive officer. Zócalo Group employs a measurable, database-driven approach in identifying the factors in creating and maintaining (positive) word of mouth for products and companies. Through ongoing engagement with key customers, clients can create the type of evangelism that provides an ongoing competitive advantage.
"Today's dynamic communication landscape challenges our clients, and thus Ketchum, to continuously develop and bring to the marketplace innovative and effective methods for delivering authentic and compelling content," said Raymond L. Kotcher, senior partner and chief executive officer of Ketchum. "Zócalo Group offers yet another targeted approach to help our clients reach and motivate their audiences."
Bruce Montgomery
Montgomery & Company
Technology | Integration | Commerce
P.O. Box 10796
Chicago, Illinois 60610-0796
773-224-7898 [phone]
773-410-0608 [cell]
312-575-8636 [fax]
onepresence@yahoo.com
______________________________________
MVC Capital Announces the Appointment of Warren E. Holtsberg to the Fund's Board of Directors
From: Bruce Montgomery [onepresence@yahoo.com]
To: Ron May
CC: TATV Show
Subject: MVC Capital Announces the Appointment of Warren E. Holtsberg to the Fund's Board of Directors
Sent: Sun 4/8/2007 2:41 PM
MVC Capital Announces the Appointment of Warren E. Holtsberg to the Fund’s Board of Directors
PURCHASE, N.Y.--(BUSINESS WIRE)--MVC Capital, Inc. (NYSE: MVC), a publicly traded business development company that makes private debt and equity investments, today announced that Warren E. Holtsberg has been appointed to serve on the Fund's Board of Directors. In addition, The Tokarz Group Advisers LLC ("TTG Advisers"), the Fund's investment adviser, has appointed Mr. Holtsberg to lead TTG Advisers' new Chicago office and as Co-Head of Portfolio Management.
Previously, Mr. Holtsberg served as Corporate Vice President of Equity Investments and as Founder and Head of Motorola Ventures where he spent 13 years, including eight years actively managing the successful corporate venture group. Mr. Holtsberg currently serves on the boards of the Illinois Venture Capital Association, Illinois Ventures (the venture arm of the University of Illinois), and the Chicagoland Entrepreneurial Center.
"Warren Holtsberg's extensive investment background, wealth of global business experience, and leadership abilities will complement the strengths of our talented Board and Adviser," said Michael Tokarz, Chairman and Portfolio Manager of MVC Capital. "We look forward to working with Warren, a true business leader and executive who we know will make significant contributions to our organization."
As an interested director, Mr. Holtsberg will stand for election at the 2007 Annual Meeting of Stockholders. With Mr. Holtsberg’s addition, the Board of Directors now has six members, four of which are independent.
About MVC Capital, Inc.
MVC Capital is a Business Development Company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries. For additional information about MVC Capital, please visit MVC's website at www.mvccapital.com.
For MVC's investor relations, please call 914-510-9400.
All media inquiries should be directed to Kim Levy or Nathaniel Garnick at 212-687-8080.
Bruce Montgomery
Montgomery & Company
Technology | Integration | Commerce
P.O. Box 10796
Chicago, Illinois 60610-0796
773-224-7898 [phone]
773-410-0608 [cell]
312-575-8636 [fax]
onepresence@yahoo.com
_______________________________________
WAS the auction for Tribune rigged in Samuel Zell's favor?
When a Bank Works Both Sides
By ANDREW ROSS SORKIN
New York Times
In many multibillion-dollar deals, conflicts of interest are an unavoidable
way of life. The multiple roles that Merrill Lynch and Citigroup played in
the $8.2 billion sale of Tribune - advising the company in the sale process
as well as providing financing to the winning bidder, Samuel Zell - show
these conflicts on a grand scale, DealBook wrote in a column in Sunday's New
York Times. Tribune, a publishing and broadcasting giant, did take steps to
preserve objectivity, forming a special committee and hiring an outside
adviser. But the situation still raises questions about whether Mr. Zell was
given a privileged seat at the negotiating table.
WAS the auction for Tribune rigged in Samuel Zell's favor?
After the company's $8.2 billion sale was announced last week, some Tribune
insiders whispered that the board's clubby Chicago directors always
preferred selling the company to Mr. Zell, their local flamboyant real
estate tycoon, over a rival deal for exactly the same price from a team of
out-of-town Los Angeles billionaires, Eli Broad and Ronald W. Burkle.
That may seem plausible, but there may be an even more perverse explanation:
Two of the investment banks advising Tribune - Merrill Lynch and Citigroup -
also financed Mr. Zell's bid.
In a happy coincidence, Merrill Lynch, which wrote a "fairness opinion"
blessing the deal for Tribune, also just happened to represent Mr. Zell in
his $39 billion sale of Equity Office Properties to the Blackstone Group
this year.
These types of conflicts on Wall Street are hardly new, but the Tribune deal
illustrates them writ large. As Robert Kindler, vice chairman for investment
banking at Morgan Stanley, recently said on a panel at the Corporate Law
Institute at Tulane University: "We are all totally conflicted - get used to
it." (Morgan Stanley advised Tribune's special committee of independent
directors, but more on that later.)
The potential conflict in the Tribune sale stems from a practice known as
"staple financing" - in which the adviser to the seller also offers
financing to prospective buyers, putting the investment bank on both sides
of the deal. This column has written about the issue before. I have called
it "Wall Street's version of vendor financing - or, potentially,
conflict-ridden double dipping." But within the last year, staple financing
has become so commonplace that the obvious conflicts are regularly
overlooked and may need to be re-examined.
Staple financing is called that because its paperwork is often stapled onto
the deal's term sheet to help a seller develop a robust auction by offering
on-the-spot financing to all suitors. The practice is often seen as a way
for sellers to prevent bidders from trying to tie up financing from other
sources to hinder rival bids. It also helps keep auctions more confidential
because bidders don't have to bring in their own army of bankers to rifle
through all the books and records.
And staple financing often sets a floor on a company's valuation. Still,
staple financing is only offered as an option, not a requirement, so bidders
who can find their own financing at better rates are free to do so.
There are times when staple financing may make sense. For example, Credit
Suisse, the adviser to TXU on its $45 billion sale to the Texas Pacific
Group and Kohlberg Kravis Roberts & Company, is offering to finance any
potential bidder that would seek to top that deal. If a higher bidder
emerged as a result, the arrangement would clearly be beneficial.
Sometimes it is impossible to find an adviser with the necessary experience
that isn't conflicted. Vice Chancellor Leo E. Strine Jr., who often presides
over big deal-related cases at the Delaware Court of Chancery, said at the
Tulane conference, "The idea that you get someone who's unconflicted and has
no experience is an idiotic notion."
In the case of Tribune, however, the jumble of intertwining relationships
and different options that the company was considering made the prospect of
an adviser playing both sides of a deal more than a bit uncomfortable. The
Tribune auction was different from many because the company was considering
more than just selling to the highest bidder. It was also considering
whether to sell at all, and if it didn't, what to do.
Tribune declined to comment, as did Citigroup and Merrill Lynch.
Until just a few weeks ago, the company seemed to be leaning toward a
self-help plan that would involve revamping itself and taking on billions in
debt. (Merrill and Citigroup planned to finance that deal, too.) On top of
that, Merrill and Citigroup were offering to finance the bid by Mr. Burkle
and Mr. Broad.
WITH so many options under consideration and Merrill and Citigroup financing
virtually all of them, it is unclear why they had a seat at the negotiating
table. For Merrill and Citigroup, Mr. Zell's bid was clearly worth more in
fees than Tribune's self-help plan, and the bid from Mr. Burkle and Mr.
Broad was less certain.
To their credit, Tribune's independent directors formed a special committee
and hired an outside adviser, Morgan Stanley, to guide them through the
drawn-out auction and to act as a buffer between the interests of the
not-so-disinterested board members.
But with so many members of the board in favor of keeping the company in
Chicago hands (and Merrill and Citigroup campaigning for that deal for the
last couple of weeks), it was hard for the committee to squeeze more money
out of Mr. Zell when he knew he was the favorite.
Under the circumstances, Morgan Stanley, which also provided a fairness
opinion, actually did a pretty good job of extracting an extra dollar a
share from Mr. Zell at the 11th hour. Of course, it is hard to say what
would have happened if Merrill and Citigroup didn't provide the financing to
Mr. Zell. And shareholders are hardly complaining; it is almost a miracle
the company got sold at all, let alone for $34 a share.
But with so much financing available across Wall Street these days, it makes
you wonder whether it is worth it for corporate boards to overlook all the
potential conflicts to play the staple financing game.
____________________________________
ACA angel groups forecast increased investments after growth year in 2006
Washington, DC, April 2, 2007 - Angel group leaders expressed optimism about
the climate for investments in early-stage businesses in 2007 in the
first-ever survey by the Angel Capital Association (ACA). This optimism came
at the same time angel groups reported increases in investments in 2006 over
2005, with a 23 percent increase in average total investment dollars by
group and 34 percent growth in the average number of deals the groups
funded.
In the Angel Group Confidence Report of North American angel group leaders,
ACA found that angel groups forecast that the quantity and quality of
entrepreneurial investment proposals will increase in 2007, that more than
80 percent of groups will continue investing in seed and early stage
companies, that there is a strengthened opportunity for more positive exits,
and more plans to co-invest with other sources of capital.
"These predictions bode well for angel group investing in 2007," said John
May, chairman of ACA and co-manager of the Washington Dinner Club in
Washington, DC. "Not only are angel groups funding early-stage ventures at
an increased level, but many are also reserving follow-on funding for their
portfolio companies to help them grow. All of this is good news for high
potential entrepreneurs looking for capital to start and grow their
businesses."
Predictions for 2007
Not only do the angel organizations expect deal flow to improve, but they
expect investment activity to continue at the same level or increase
somewhat this year over 2006. Almost all angel group leaders (96.5 percent)
predicted that their group would invest in a new company in 2007-with 77
percent planning to invest in three to nine companies. Five percent think
they will invest in ten or more companies.
Attitudes on the positive liquidity of investments are also optimistic, as
51 percent forecast that "overall exit activity should strengthen" in their
region, with exits generally coming from mergers and acquisitions. Another
48 percent believed that exit activity would not change in 2007, but noted
that the climate for exits improved in 2006 as compared to 2005.
Angel investors are high net-worth individuals who make equity investments
in entrepreneurial businesses, and angel groups are formed when individuals
join together to evaluate investment opportunities and invest together.
Currently, there are about 265 angel groups operating in the United States
and Canada, an increase of 67 percent since 1999.
2006 Angel Group Investment Activity
ACA angel investment groups made an average of 7.4 investments in 2006, with
average total funding of $1.78 million. These numbers are up from the
numbers that angel groups reported in 2005, in which they invested an
average of $1.45 million in 5.5 deals. The average size of an investment per
round for the group was $241,528 in 2006.
The largest change reported from 2005 to 2006 was in the percentage of
groups that experienced a positive exit from one of their investments. Just
under 30 percent of the angel groups reported distributing returns to their
member investors in 2006, nearly double the 15 percent reported in 2005.
Co-investment was a key component of angel group activity in 2006: 72
percent of the reporting groups noted that their portfolio companies
received investment from venture capital firms, either as co-investment in
the same round or as follow-on funding as the entrepreneurial ventures grew.
In addition, two-thirds of the respondents reported co-investing with other
angel groups in the same early-stage firm.
Marianne Hudson, ACA's executive director, notes the importance of
co-investment for the investors and the companies involved. "Our research
has shown a 'capital gap' for entrepreneurs looking for $200,000 to $2
million to get their companies to the next stage. By banding together with
other angel groups and early stage venture capital groups, ACA member groups
can help some companies obtain the capital they need," she said. "More and
more, I'm hearing of deals in which three or more groups are working
together to invest $850,000 to $1.5 million. Most groups cannot make that
type of investment on their own."
Investment Preferences
By a considerable margin, the reporting angel groups prefer to invest in
seed and start-up companies (80 percent) and early-stage firms (85 percent),
than they do in expansion (22 percent) and later stage companies (5
percent). The groups expect little change to the stage of companies in which
they will invest in 2007. Additionally, the groups also provided follow-on
funding for their portfolio companies - an average of three of angel groups'
7.3 deals in 2006 were follow-on investments in portfolio companies.
Angel group leaders expressed interest in a wide variety of industries in
the survey. Three industry areas were of particular interest:
Medical Devices (89 percent)
Software (85%)
Biotechnology (67%)
Few angel groups specialize in a particular industry area, and most have
interests and expertise among their member investors in a variety of other
areas. Seven other industry areas were preferred by 50 percent or more of
the responding angel groups, including: Business Products and Services;
Electronics and Instrumentation; Healthcare Services; Industrial/ Energy; IT
Services; Networking and Equipment; and, Telecommunications.
The Angel Capital Association (ACA) is the professional alliance of angel
groups in the U.S. and Canada. Currently, there are more than 120 affiliates
and member groups representing more than 5,000 angel investors. ACA focuses
on developing professional standards, sharing best practices and building
relationships between angel groups. More information can be found at
www.angelcapitalassociation.org.
Please note that ACA is not a funding organization itself. The ACA Web site
has a directory of member groups, with links to group Web sites.
Entrepreneurs should contact individual groups directly rather than ACA (or
work with a trusted advisor to gain an introduction). Angels interested in
learning more about ACA or member groups are welcome to contact ACA or the
member group.
_____________________________________
ITA Announces Finalists for Eighth Annual CityLIGHTS Awards
ITA Announces Finalists for Eighth Annual CityLIGHTS Awards
Industry Leaders, Rising Stars to Celebrate at Annual Awards Gala on April 12
Chicago, IL – March 27, 2007 – The Illinois Information Technology Association (ITA) today announced the finalists for the 2007 CityLIGHTS Awards. The awards – which honor outstanding information technology companies, executives and advocates in Illinois – will be presented to the winners at the eighth annual CityLIGHTS Awards Gala on April 12 at the Drake Hotel.
This year’s finalists include:
- CityLIGHTS Award: Given to an individual that has made a significant impact on the Illinois technology community.
- Dick Reck, President, Business Strategy Advisors
- Brad Spirrison, President, MidwestBusiness.com
- J.B. Pritzker, Partner, New World Ventures
- CEO of the Year Award: Given to the CEO who has driven his company to new heights in the past year.
- Paul Jarvie, President, ASAP Software
- Brian Carpizo, CEO, Junction Solutions
- Raymond Spencer, Chairman and CEO, Kanbay
- Art Roldan, CEO, SecurePipe Corporation
- Robert Post, President and CEO, TravelCLICK
- Spotlight Award: Given to the CIO/CTO for leadership and outstanding contributions in the application of information technology.
- Steve Canter, CIO, Berlin Packaging
- William Farrow, EVP and CIO, Chicago Board of Trade
- Hardik Bhatt, CIO, City of Chicago
- Mitch Greenwald, CIO, SeatonCorp
- Jim Parker, CIO, Supplier Systems Corporation
- Lighthouse Award: Given to the company that best represents the region's growing stature as home to world-class information technology companies.
- Advanced Technology Services, Inc.
- Aladdin Knowledge Systems
- Infogix
- Initiate Systems
- Orbitz
- Rising Star Award: Given to the company that has emerged from its start-up phase to distinguish itself in the technology marketplace.
- The Acquity Group
- Authentify
- Fieldglass
- INCISENT Technologies
- The SAVO Group
- Newcomer Award: Given to the company that has the strongest potential to emerge from its start-up phase and distinguish itself in the technology marketplace.
- AdGooroo
- Cleversafe
- ForceLogix
- LiquidTalk
- Sky Road
"We had an astounding number of truly excellent nominations this year and would like to thank all of those who submitted," said Fred Hoch, president of the ITA. "The high level of quality submissions and volume of applications we received demonstrates the continued growth of Illinois' strong technology community.
CityLIGHTS is ITA's annual celebration of vitality and innovation in Illinois' fast-growing technology community. The Awards Gala will recognize key players and rising stars whose innovations are driving positive change in Illinois. All Illinois companies and executives are invited to attend the event, which is the largest gathering of technology executives in the state. Last year's event drew more than 400 attendees.
Sponsors of this year's CityLIGHTS Awards include Premier Sponsor Grant Thornton; Platinum Sponsors IBM Corporation and Oracle Corporation; Gold Sponsors Aladdin Knowledge Systems, Fastroot Technology, Lakeview Technology and McGuireWoods; and Event Sponsors Authentify, Chase Bank and Lantern Partners.
To register for the event, visit www.itacitylights.com.
About the ITA
With roots dating back to 1982, the Illinois Information Technology Association (ITA) represents the interests of a diverse membership of more than 400 companies in Illinois that create, deploy and utilize information technology as a core part of their organization. By connecting members with industry peers and participants, providing the latest strategic information, market research and critical market insight and by promoting key thought leaders to raise visibility and gain a greater market awareness and presence, ITA is focused on building and developing the Illinois technology community through collaboration. Additional information is available at http://www.illinoistech.org/.
Contacts:
Fred Hoch President, ITA, +1.312.435.2805, fhoch@illinoistech.org
Lee Winklepleck, Account Executive, Ruder Finn, +1.312.329.3978, winklepleckl@ruderfinn.com
____________________________________
1. READERS' COMMENTS AND RESPONSES
1a. Gardi Wilks: Overthrow Wall Street & Take Back Your Future-InOp
From: giwilks@aol.com
To: ron@themayreport.com
Subject: Overthrow Wall Street & Take Back Your Future-InOp
Sent: Mon 4/9/2007 2:07 PM
A new book, Investor Revolution! Overthrow Wall Street and Take Back Your Future, demonstrates how readers can redefine their experience of Wall Street by using cutting edge tools and risk management strategies to sustain long-term success, even given the vagaries of the investment markets. The author, Thomas L. Hardin, is the CEO of Canterbury Group and chief investment officer of Canterbury Investment Management in Indianapolis. In the book, Hardin discusses his proprietary "Portfolio Thermostat" that helps investors manage unpredictable fluctuations in the market. He uses his own professional experience and personal philosophy to reveal an investment process that's dynamic, customized, and totally focused on building a profitable life. He also is the author of Never Too Old to Rock and Roll.
Hardin will be in Chicago for book signings at Barnes & Noble in Naperville on April 21 from noon to 4:00 p.m. and at Barnes & Noble in Oakbrook Terrace on April 22 from 1:00 to 4:00 p.m. He will be in Chicago from April 17-22, 2007 to talk about his new book, Investor Revolution! To arrange an interview, contact Gardi Wilks at (708) 366-8389 or gardi@wilkspr.com.
_____________________________________
1b. Christian Mitreanu: An Innovation Framework for the Media Business (Old and New)
From: Cristian Mitreanu [cmitreanu@redefiningstrategy.com]
To: ron@themayreport.com
Subject: An Innovation Framework for the Media Business (Old and New)
Sent: Sun 4/8/2007 10:40 PM
Ron,
I thought that you and your community might be interested in this post:
http://www.bizbigpic.com/picture001/2007/04/concept_an_inno.html
Cristian
______________________________________
1c. Bob Ingersoll: Has gone back to working for Melo at dChain
From: Bob Ingersoll [bobingersoll@dchain.com]
To: ron@themayreport.com
Subject: Hi,
Sent: Fri 4/6/2007 11:47 AM
Ron, I have been working with Roberto Melo since the beginning of the year. I haven’t been receiving your report. How are you? Give me a call some time. I just tried to call you. Bob
847-729-2997
______________________________________
1d. Jen Lane: Thanks for the thank you
From: Jen M. Lane [jenmlane@kw.com]
To: ron@themayreport.com
Subject: RE: Jen, thank you for providing the text version of the article on Chicago business investment. I really appreciate it. Ron May
Sent: Sun 4/8/2007 3:19 AM
Ron,
You are very welcome. Thanks for asking! Hope you enjoyed. (I found this is my spam folder...). Cheers, Jen
Psst...Please don't keep me a secret! Thank you for your confidence and trust. Jennifer M. Lane Realtor, Consultant
676 N. Michigan Ave, Suite 3010, Chicago, IL 60611
c 773.315.9507
f 312.981.5501
w www.JenMLane.com
e JenMLane@kw.com
_______________________________________
1e. Jeff Meredith: Top 5 Friedman-isms
From: Jeff Meredith [jallenme@yahoo.com]
To: ron@themayreport.com
Subject: RE: Top Five Thomas Friedman-isms
Sent: Fri 4/6/2007 9:37 AM
Finally, you see the light. Friedman has been a
laughingstock for quite some time.
If you're looking for a good book, check out Thomas
Rick's Fiasco. Or American Prometheus: The Triumph and
Tragedy of J. Robert Oppenheimer.
My father swears by evolutionary biologist Jared
Diamond ... I've read a little Diamond and I like him
as well.
My point is that there are so many great books out
there. Why would anyone waste their time on Tom
Friedman?
Jeff
--- Ron May <ron@themayreport.com>wrote:
> Jeff,
>
> OK, that's funny. And it hits the nail on the head.
> Friedman is just so
> wowed by it all. He exhausts me with his
> "wonderment." He is like a ten year
> old discovering the wonders of science. At times, it
> is just too much.
>
> Ron
>
> Ronald May
> ron@themayreport.com
> 773-525-3944
-----Original Message-----
From: Jeff Meredith [mailto:jallenme@yahoo.com]
Sent: Friday, April 06, 2007 7:04 AM
To: ron@themayreport.com
Subject: Top Five Thomas Friedman-isms
The article below is from the Harvard Crimson.
Please
publish it, Ron. It's hilarious.
Jeff
================================
Top Five Thomas Friedman-isms
Published On Thursday, December 14, 2006 7:50 PM
By ABE J. RIESMAN
Crimson Staff Writer
I heart Thomas L. Friedman. I mean, the guy's
completely full of crap 87% of the time, but his
writing style has basically changed my life. Dave
Eggers can go suck a dong-Tommy Friedman has the
most interesting narrative
voice in print today. You know why? Because, like
all good fairy-tale
children's-book writers, he understands the power of repetition.
So, without further ado, here are my top 5 favorite
Thomas L. Friedman tropes of 2006.
5. Exclamation Points!
Tommy travels a lot. He talks to "entrepreneurs" in
magical places like India and China. And whenever he
does, people are really excited to talk to him. So, naturally, he
wants all of his readers to know just how damn exciting these exotic
encounters are. Thus, a
Chinese solar-energy mogul's quote about how the
government came to his factory transforms from "They
said, 'This is an industry'" to "They said, 'This is
an industry!'" See? Now the world is so much more
wonderful and exciting because of the yelling.
4. Friendship.
Everywhere Tommy goes, he makes friends. And lest we
forget how important friendship can be, he reminds
us
that his friends are the friendliest friends that a
friend ever befriended. Sure, he could open a column
about China with "I met someone who told me an
interesting anecdote about pollution". but why do
that
when he can open with "A friend of mine here wakes
up
every morning and does his own air quality test" and
show us that he has friends? Ones who live in China,
no less. Eat that, readers.
3. Stevie Nicks.
Okay, this only happened once, but I'm including it
because I really hope it happens again. He was
writing
about realizing how far technology has come while
sitting in a cab in France. "I got out my iPod and
listened to a Stevie Nicks album," he wrote. LOL to
the max, people. Can you just imagine Thomas L.
Friedman lightly bobbing his head up and down while
listening to "Edge of Seventeen" in some foreign
land?
I can. And I LOL'd.
2. Made-up Laws.
Since at least 1982, Tommy has been inventing names
for phenomena in the geopolitical and economic
world,
and calling them "rules" or "laws," for some damn
reason. And it's always with a definite article at
the beginning. "Russia is
a classic example of what I like to call, 'the First
Law of Petropolitics,'"
he wrote in October. More recently, he dictated his
"Pottery Barn Rule" for
Iraq. I don't even want to bother telling you what
these titles mean,
because they're wonderful enough on their own.
1. Metaphors, metaphors, metaphors, metaphors.
You can't knock a classic. Since the mid-1980's,
Thomas has cranked out the most ridiculous metaphors
this side of the Mississippi. Confused about the
relationship between the Israeli-Palestinian
struggle
and the wider Islamist conflict with the West? "It's
Off Broadway to Broadway." Wondering about the
different ways Congress can treat China? It's
"either
scapegoat or Sputnik." Want to understand subtleties
of diplomatic theory? "Trying to do diplomacy
without
the threat of pain is like trying to play baseball
without a bat." Voila.
-Abe J. Riesman '08 is outgoing Comp Director and
incoming Co-Chair. He firmly believes the world is
flat, and that Harvard women are also flat.
________________________________________
2. SPECIAL REPORTS AND FEATURES
2a. Mark White and Coaccession Company: The business explained and the model explored
[Editor's note: May here. Mark, thanks! I wish that every entrepreneur with patentable IP would come forward and make this kind of attempt to explain his or her business. I am not an expert, but I do think Coaccession may have been one of the hidden jewels in the crown at the Fast Pitch competition. Mark, you may be like the woman who did not win American Idol, but did win an Oscar.]
From: Mark White [coaccession@gmail.com]
To: ron@themayreport.com
Subject: Re: Well, you ASKED for enligtenment...
Sent: Sun 4/8/2007 2:50 PM
Hi, Ron,
Given your volume of mail, saying that that is one of the best letters you have gotten in a long time certainly means a lot -- as long as you don't say that to all your correspondents. Anyway, it means a lot to me, since I trust you're not leading me on.
As you take time to digest it and my other email, please correct the error I made in calling Coaccession a patented business method. It's likely a Freudian slip, since I really wish it were true. Nonetheless, the truth is that Coaccession is a patent pending business method.
That's a fact I've mentioned elsewhere in our correspondence, so I hope when you read my letter, you just read patent pending for patented, as I did sloppily in drafting it. If not, you have my apology for misleading you about Coaccession's status. Let's not compound the error by leaving it in if you do decide to publish my letter or parts of it. . Thanks much for taking the time to read it. I really appreciate your interest.
All the best,
Mark
++++++++++++++++++++++++++++
From: Ron May [ron@themayreport.com]
To: 'Mark White'
Subject: RE: Well, you ASKED for enligtenment...
Sent: Sat 4/7/2007 6:29 PM
Mark, that is one of the best letters I have gotten in a long time. I will take time to digest it and your other email. Thanks much for taking the time to send it.
Ron
Ronald May
ron@themayreport.com
773-525-3944
_________________________________
From: Mark White [coaccession@gmail.com]
To: ron@themayreport.com
Subject: Well, you ASKED for enligtenment...
Sent: Sat 4/7/2007 3:13 PM
Hi, Ron,
You are welcome to know pretty much all you want about my business. You certainly don't seem to need my encouragement to ask questions, but you're nonetheless invited to fire away. Given your perspicacity, you certainly gratify when you say that Coaccession sounds very interesting.
It's good you know some of the work of Vernon Smith through your UCGSB experimental economics course with Charlie Plott. I don't remember Charlie on a 900 calorie a day diet, but I do recall his strong preference for fresh fish from the Sea of Cortez -- especially those caught on his own tackle. My acquaintance with the Economic Science Ass'n folks started when I waltzed into Vernon's office one fall day and showed him a chart of the Spain Fund's weekly net asset values and prices. I pointed out that prices didn't converge even after the bubble ended -- they just went to a discount. Convergence only occurs reliably at open-endings and liquidations, when trading ends. I hypothesized that bubbles could continue as long as trading does, and Vernon invited me into his seminar to run experiments with longer-lived assets. One great thing about Arizona is that they don't care whether you're from finance or economics -- I did get into Vernon's seminar. BTW, the experiments worked -- Arlie Williams even emailed me about his astonishment at seeing a bubble reignite.
Plott and Smith's area of study, experimental economics, is less a pariah these days after Vernon's Nobel prize ratified the methodology, but I remember how upset Steve Ross got back in the 90's at Dave Porter showing a Spain Fund chart -- Vernon insisted! -- in presenting an experimental bubbles paper he'd done with Vernon. Even today, real and experimental bubbles are still suspect at Chicago -- comparing market prices to NAVs and induced values doesn't provide enough solid data for some economists. Plott might still visit the business school, not the econ department. Victor Niederhoffer's reminiscences of finance faculty like Scholes and Fama suggests that when it comes to the validity of data, it only counts if it's been tortured enough to show an efficient market. Venture economics doesn't have enough hard data to base any conclusions on? Of course! It only serves as the base for the economy's future, and where's the efficient equilibrium in that?
The connection here between Smith's field and what I am doing, Ron, is testing variations in property rights and other economic institutions. Having worked out and established the experimental methodology with colleagues, Vernon frequently uses experimental tools to test the market effects of different property rights schemes, along with variation in other economic institutions, including market designs. Working with ESA folks, and especially Vernon, really opens your eyes to alternatives to our current institutions. Most alternatives are worse, but finding better ones can add a lot of value. Just look how much futures contracts improved on forward contracts.
Of course, with you thinking that I'm auctioning the rights for reproductions or images of the artwork, or selling or leasing the rights to the royalties from reproductions or images of the specific objects, you wouldn't see a clear connection to Vernon's work. But that's not what Coaccession does. You read my note to say that it does not involve ownership of the objects themselves, so reproductions or images are the only things you can think that Coaccession could involve. In fact, the note says something a bit different: "Coaccession raises funds from collectors' interest in individual museum objects without removing those objects from permanent collections." That's all Blake Johnston would let me reveal before filing the application, but Coaccession certainly does involve ownership.
In fact, this pending patent is all about maintaining control of property outside your physical possession. Yes, leasing does that, but it has a big drawback for someone responsible for conserving a permanent collection. The lessee only has the property for a term, so lacks an owner's incentive to provide care optimizing its permanent condition. Coaccession changes the incentive by converting the possessor into an owner without dispossessing the seller, as ordinary sales do. It does so by selling only the right of possession, rather than the full bundle of rights pertaining to the fee simple title. The seller can do this by using the patented Coaccession business method to divide the fee simple title into two derivative titles: a
Custodial(tm) title with only the right of possession, and a
Principal(tm) title with all other rights from the fee simple bundle.
The patent application discloses a system to implement this method, so there's quite a bit more to Coaccession than just title division. Still, the preceding is plenty for one note. I'll only add now that the system includes a registry. That leaves room for plenty of things you can think of, if you care to. Or you can just ask for more enlightenment on this, if you think you and your readers can stand it. I'm willing to provide about as much enlightenment as anyone wants, since I'm hoping lots of people will come forward with detailed enabling ideas for the method and system that go beyond what I've already thought of.
In fact, once I work out the priority sequence for the initial batch of ideas (which decides who gets credit for an idea in case of a tie), I plan to start issuing Coaccession Company equity to innovators based on how much value their idea adds to the company's equity. If you (Ron AND readers) have a bright idea, you might keep it to yourself until I announce the priority sequence method for distributing Inshares. Do let me know personally, though, if you've thought up one or more approaches to adding value with this method and system. I'd like to gauge the level of interest. Thanks in advance.
You're right that a lot of business method stuff gets patented these days, and not all of it is legit. Although I'm not a lawyer, lawyers I know agree with my extensive legal research -- this is a novel, useful, nonobvious business method. Of course, your readers may beg to differ, and I for one would love enlightenment on reasons why Coaccession would not meet this legitimacy standard. I'd rather go back to the drawing board sooner than later.
Thanks for the opportunity to enlighten. Here's hoping folks who read this far respond to my invitations.
Best regards,
Mark White
Coaccession Company
312-267-0857
Coaccession@gmail.com
Coaccession.blogspot.com
++++++++++++++++++++++++++++++++++
From: Mark White [coaccession@gmail.com]
To: melissa@chicagolandec.org; info@ilbif.com; michael@cornerstoneangels.com; wdeutsch@chicagogsb.edu; pistrui@iit.edu
CC: Johnston, R. Blake; ron@themayreport.com
Subject: Coaccession: How it does what it does
Sent: Sat 4/7/2007 2:43 PM
Hi, Melissa, Dennis, Michael, Waverly, David,
Your feedback on my Fast Pitch was useful, even though we all labored under tight restrictions on the information I could share then. Melissa knows most about Coaccession(tm) among you, since she saw early Fast Pitch draft written before Blake Johnston explained to me that "publishing" what Coaccession does, even without saying how, would jeopardize patent rights in Europe and Japan.
Now with the patent pending, even a very detailed description cannot cause problems with publication rules. While the Fast Pitch format doesn't leave room for a very detailed description, at least this draft tells you generally how Coaccession does what it does. Reading this pitch in three minutes requires a brisk pace, but then, as Dennis explained to me after my pitch in February, reading your pitch just isn't done in funding circles. I think I now could communicate the passion in the alloted time.
For your reference, the attachment is the Fast Pitch I would like to have given had there been no restrictions on publication. Here's hoping you would have rated my pitch higher on "Did you understand the proposed product/service solution?" dimension, if not others, had you had this info then.
Thank you again for the feedback you could give me. Fast Pitch was a great experience.
All the best,
Mark White
Coaccession Company
312-267-0857
coaccession.blogspot.com
PS You can see more on Coaccession where Ron May published my response to his noting in passing, while describing the Fast Pitch competition, that googling Coaccession yields no links:
http://www.themayreport.com/A55951/tmrarticles.nsf/e17dd6a94826afb586256923007a8b6b/a556651f58e548ad862572ae001b2102!OpenDocument
+++++++++++++++++++++++++++++++++++++
Coaccession Company – Fastpitch Presentation – 3/22/07 Draft
Coaccession™, a patent-pending business method, divides a fee simple title’s bundle of rights into two or more derivative titles. For museums, creating a Custodial™ title with right of possession produces a corresponding Principal™ title with all rights other than possession. Selling Custodial titles to collectors lets museums use capital from permanent collections to fulfill their missions better. Retaining Principal titles lets them maintain permanent control of objects that collectors display around the community in homes, offices, schools, churches, hospitals and so on. This unique arrangement eliminates incentive incompatibilities from conventional sales and leasing methods.
Coaccession targets innovative museum directors and trustees who seek increased financial and storage capacities. Local examples include the Art Institute, the Field, the MCA, and the Oriental Institute, naming a few. Nationally, the market has hundreds of major collections and thousands of notable ones. These priceless permanent collections’ total value could run into trillions, and Coaccession lets museums access part of that. Conservancies and specialized uses just add potential.
The Coaccession Company will charge royalties to license, on a per-object basis, the right to Coaccession individual objects from permanent collections. Royalties are a percentage of the Custodial title’s selling price. We’ll license rights at a website where museums register objects for Coaccession and commit to pay royalties when funds arrive. We’ll promote our service through individual contacts at museums along with targeted PR and ads. Plus, dealers and auctions can serve their own interests by promoting Coaccession to clients.
The competition is traditional selling and leasing. Incentive incompatibilities limit these competitive methods’ applicability, so museums rarely sell or lease permanent collections objects to collectors.
Our competitive advantage is the unique incentive compatibility designed into Coaccession. A successful patent application will give us a twenty-year lead in developing this service market, and the trademarks will always be ours.
Mark White is Coaccession's inventor and sole proprietor. Mark designed market experiments for his U of Arizona PhD with training and supervision by Economics Nobel laureate Vernon Smith. DLA Piper partner Blake Johnston counsels on patents, and helps line up other pro bono support for the Coaccession Company and its social counterpart, The Open Museum, which will eliminate Coaccession fees for museums that commit those objects’ funds to expeditions rescuing knowledge in peril from looting and other hazards. Mark's finance doctorate and DLA Piper’s patentability opinion underpin Coaccession’s credibility as a novel, useful, nonobvious financial derivative, and DLA Piper's legal support adds credibility to this method's licensing prospects.
__________________________________
END OF REPORT
|
|
|