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Jul 31, 2008 -- PureSpectrum, Inc. (PINKSHEETS: PSPM | Quote | Chart | News | PowerRating) has signed a letter of intent with W.A.C. Lighting stating that the two companies will continue discussions toward developing a licensing arrangement that would integrate PureSpectrum's ballast technology into existing and possibly new product lines from W.A.C. Lighting. "We have a tremendous opportunity to work with an established and respected company which shares our corporate values," said PureSpectrum president and CEO Lee Vanatta. "W.A.C. Lighting has propelled itself to the upper echelon of the lighting industry through a commitment to innovation and a culture of excellence. After our initial discussions, there was a clear business interest for both companies and we agreed to work together during the next month to clearly define the scope of a potential licensing agreement. "We believe our technology would provide a competitive advantage in the marketplace, and we are extremely pleased to be able to continue discussions with a company that has a proud history of achievement within the lighting industry," Vanatta concluded. PureSpectrum owns multiple patents and patents pending for innovative electronic ballast technology for fluorescent lighting. During the past few months, the company's technology has been tested by several leading lighting manufacturers, and feedback gained through those interactions allowed PureSpectrum's advance technology team to refine its circuitry for optimum performance in preparation for licensing the technology and integrating it into the manufacturing process. Please call (912) 961-4980 for more information about PureSpectrum, Inc. or visit www.purespectrumlighting.com to view full test results and watch a short video featuring PureSpectrum's dimming technology compared to commercially available dimmable CFL bulbs. Please contact Shareholder Development Group at (770) 518-3449 or info@shareholderdg.com for investment information.
Aug 01, 2008 -- Sunrise Solar Corp. (OTC BB: SSLR | Quote | Chart | News | PowerRating) is pleased to announce that it has entered the final stages of negotiations with several Korean and Chinese suppliers solar technology suppliers. The Company anticipates these negotiations will result in a significant number of additional innovative and cost-efficient products being available to the Company's customers. "Solar power is becoming increasingly cost-effective and new technologies continue to offer more choices and many new products," said Austin, Chairman and CEO of Sunrise Solar. "We expect to complete these negotiations in the very near future." Industry analysts have predicted the cost per watt should decrease to $1 by 2010. First Solar is currently making solar modules that are twice as cost-effective as the industry standard, selling at $2.40 per watt.
Aug 01, 2008 -- ConEdison (NYSE: ED | Quote | Chart | News | PowerRating) Solutions, one of America's leading energy service providers, has been awarded a contract through competitive bidding to provide energy services for the New York Power Authority (NYPA), the nation's largest state-owned power organization. NYPA, which provides low-cost electricity to New York customers that include government agencies, community-owned electric systems, private utilities for resale, and job-producing companies, launched a competitive selection process in December to identify energy service providers to undertake major energy efficiency initiatives. The Power Authority is a national leader in promoting energy efficiency, new energy technologies and electric transportation initiatives, and has invested over $1 billion in such projects at almost 2,700 public facilities since the late 1980s. "We are proud to win designation as an approved provider of energy services here in our home state of New York," said Jorge J. Lopez, President and CEO of ConEdison Solutions. "We look forward to working in cooperation with the New York Power Authority to help maximize energy efficiency for a wide range of institutions and facilities in the Empire State." Under the contract, ConEdison Solutions will provide energy efficiency upgrades, including the implementation of lighting, motors and controls projects in selected facilities in southeast New York, which includes the five boroughs of New York City and Westchester County. Services will include conducting feasibility studies, evaluating existing and proposed systems, developing designs, purchasing equipment, installation, supervision of installation and commissioning of equipment.
Aug 01, 2008 -- Corning Incorporated (NYSE: GLW | Quote | Chart | News | PowerRating) announced today that it has completed the sale of its Steuben Glass Division to Steuben Glass LLC, a newly formed affiliate of Schottenstein Stores Corporation (SSC). Terms of the sale are not being disclosed. Concluding a transaction that was announced on July 23, 2008, Corning divested the assets of its Steuben Glass Division in order to better position the business for future growth. Schottenstein Stores Corporation is a multi-billion dollar private equity company focused on retail and luxury holdings. Corning will maintain a 19.9% ownership in the new Steuben Glass LLC. A new labor agreement between Steuben Glass LLC and United Steelworkers Union, Local 1000 has been reached, having received overwhelming support from the membership. "The combined focus on quality manufacturing and strong retail expertise, resulting from bringing Corning and SSC together to complete this agreement should enable Steuben to flourish," noted James B. Flaws, vice chairman and chief financial officer, Corning Incorporated.
Market Wrap for August 01, 2008
The stock market kicked off the month of August with a modest decline after a rise in crude oil prices offset a modestly better-than-expected employment report.
Nine of the ten sectors posted a loss, with only financials posting a gain (-0.6%). Materials (-2.6%) and utilities (-3.3%) were the main laggards.With regard to this session's economic data, the government's jobs report for July came in close to expectations, but a smaller-than-expected drop in payrolls helped limit the selling interest this session. Specifically, nonfarm payrolls fell by 51,000 which was better than the expected decline of 75,000. Payrolls are declining at about a 0.5%, which is generally associated with real GDP growth of 1.5% to 2% -- consistent with second quarter data and projections for the third quarter. Meanwhile, the unemployment rate rose to 5.7% from 5.5%.The ISM Index, a national manufacturing survey, posted a decent reading in July given the current economic conditions. The index was roughly unchanged at 50.0, which represents flat manufacturing growth.Crude oil prices continue the recent trend of volatile swings. Prices climbed as much as 3.6% on reports that Israel's prime minister said that Iran is close to a major breakthrough in its nuclear weapons program. Prices eased off their highs, however, to settle with a 0.8% gain at $125.09. The stock market's worst level of the session, a loss of 1.0%, corresponded with the session high for oil prices.
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