Business

November 16, 2009 -- WASHINGTON, D.C. – Today, General Motors announced that it plans to start repaying its government loans more than five years ahead of schedule and that it generated $3.3 billion in cash in the third quarter. Although the automaker did not post a profit, it exceeded expectations and increased revenue by 21 percent from the second quarter.

As Co-Chair of the Congressional Automotive Caucus and a native of Flint, MI, the birthplace of G.M., Congressman Dale E. Kildee (D-MI) has worked tirelessly to return the company to productivity and profitability and welcomed this encouraging news. Congressman Kildee released the following statement:    » read more »

Veteran Congressman Asks: Why Are Republicans Rooting for GM To Fail?

November 16, 2009 -- Washington, DC - Congressman John D. Dingell (D-MI15) made the following remarks after General Motors (GM) announced the company would repay the United States more than $1 billion dollars next month, years earlier than required.

“Today, General Motors has come forth with good news. The company is on its way to fulfilling its promise to America’s taxpayers – much sooner than expected or required. The new GM has a healthier balance sheet, reduced inventories and a competitive cost structure, putting it on a path towards repaying its debts and rebuilding the company’s value. The company is better situated to deal with economic hardship.    » read more »

November 16, 2009 -- Washington, D.C. - Recently, the Small Business Administration (SBA) proposed a series of changes to existing regulations concerning the 8(a) Business Development program. The 8(a) Program provides participating small businesses with training, technical assistance, and contracting opportunities in the form of set-asides and sole-source awards. Small businesses owned by socially and economically disadvantaged individuals are eligible for the program.

“This rulemaking -in the first year of the Obama Administration- is proof positive that Administrator Mills is writing a new chapter in SBA history,” stated Congresswoman Yvette D. Clarke.    » read more »

Russ Carnahan Is Co-Sponsor of Bipartisan Bill to Enact Closer Monitoring of TARP Program

November 16, 2009 -- (WASHINGTON, DC) - Congressman Russ Carnahan (MO-03) today urged the U.S. House of Representatives to pass bipartisan legislation that will create strong new accountability measures to monitor the Troubled Assets Relief Program (TARP).

Carnahan is a co-sponsor of the legislation, which amends the Emergency Economic Stabilization Act with stricter accountability and monitoring measures to ensure that financial institutions are effectively utilizing funds provided under TARP.    » read more »

ExpressJet to Operate 22 Aircraft as Replacement Flying for United Express

November 16, 2009 -- CHICAGO, Nov. 16, 2009 – UAL Corporation (NASDAQ: UAUA), the holding company whose primary subsidiary is United Airlines, today announced that ExpressJet Airlines, a wholly owned subsidiary of ExpressJet Holdings, Inc. (NYSE: XJT) will operate 22 ERJ-145 aircraft under the United Express brand.

This new flying, which will begin on May 1, 2010, will replace flying previously done by other United Express partner carriers whose contracts have expired and is consistent with the 2010 capacity outlook United provided in its third quarter earnings conference call.    » read more »

Merck Expresses Confidence in the Efficacy and Safety Profiles of ZETIA® (ezetimibe) and VYTORIN® (ezetimibe/simvastatin) as Effective Medicines for Managing Elevated Cholesterol

ORLANDO, Fl., Nov. 15, 2009 – At the American Heart Association meeting today, Merck & Co., Inc. said it is confident in the safety and efficacy profiles of ZETIA® (ezetimibe) and VYTORIN® (ezetimibe/simvastatin), and issued the following comment in response to misinterpretation of results from a small 200-patient imaging study called ARBITER 6.    » read more »

Upfront and potential consideration of over $500 million

16 November 2009, London UK, Rockville US -- GlaxoSmithKline Biologicals SA (GSK) and Nabi Biopharmaceuticals (Nabi) today announced an exclusive worldwide option and licensing agreement for a nicotine conjugate candidate vaccine (NicVAX®), an investigational vaccine for the treatment of nicotine addiction and the prevention of smoking relapse, as well as for the development of a second generation nicotine vaccine.    » read more »

US interim data show lower doses of antigen may suffice to generate a protective immune response against A(H1N1)

Basel, November 17, 2009 - Novartis announced today new interim data from ongoing clinical trials demonstrating that a single 7.5µg dose of the company's influenza A(H1N1) 2009 unadjuvanted vaccine, half of the currently-approved US dose, fulfilled immune response criteria associated with protection in adults and the elderly (>=65 years of age).    » read more »

John Rowe discusses how cap-and-trade legislation works to limit costs

CHICAGO (Nov. 16, 2009) – Exelon Chairman and CEO John W. Rowe said today that current legislative proposals on climate will minimize costs to consumers while addressing the imminent threat of global warming. In a keynote speech at the National Association of Regulatory Utility Commissioners annual convention, Rowe said a cap-and-trade system is cheaper than any of the alternatives and current proposals include protections to avoid sharp price increases for consumers.

“I believe the Senate can pass bipartisan climate legislation this Congress,” said Rowe. “The support of wavering senators will turn on whether they are reassured on the issue of costs, and I am confident they will be.”    » read more »

Technology Enables Energy Efficient, Reduced Cost and Enhanced Quality Lighting Source

WILMINGTON, Del., Nov. 16, 2009 – DuPont announced that it has been awarded a $2.25 million grant from the U.S. Department of Energy (DOE) for a two-year project to develop a solid-state lighting source using low-cost organic light emitting diode (OLED) solution-processing manufacturing techniques.    » read more »

Midland, MI - November 16, 2009 -- The Dow Chemical Company's (NYSE:DOW) DOW™ POWERHOUSE™ Solar Shingle, a flexible photovoltaic solar cell packaged in the form of a roofing shingle that can be easily integrated with standard asphalt shingle materials, has been named one of "The 50 Best Inventions of 2009" by TIME magazine.    » read more »

November 16, 2009 -- Genzyme Corporation (Nasdaq: GENZ) announced today that it has received a complete response letter from the FDA regarding its application to market Lumizyme™ (alglucosidase alfa) for the treatment of Pompe disease. In its letter, the agency stated that satisfactory resolution of deficiencies related to the Allston Landing manufacturing plant are required before the Lumizyme application can be approved.

Genzyme believes the other elements of the Lumizyme review, such as the Risk Evaluation and Mitigation Strategy (REMS), the product label, and post-marketing requirements, have been satisfactorily addressed.    » read more »

EVERETT, Wash., Nov. 16 -- Boeing (NYSE: BA) has completed installing reinforcements within the side-of-body section of two more 787 Dreamliners.

Over the weekend, employees at Boeing's facility in Everett, Wash., finished reinforcing the full-scale static test airframe and the second Dreamliner designated for flight test. Installations were completed Nov. 11 on the first flight-test airplane.

The modification entails installing new fittings at 34 stringer locations within the joint where the wing is attached to the fuselage.    » read more »

Operating actions result in EBIT loss before special items of $261 million and managerial net loss of $1.2 billion; Accelerated plan to repay U.S. and Canadian taxpayers; first $1.2 billion payment in December

November 16, 2009 -- DETROIT – General Motors Company (GM) released today preliminary non-GAAP managerial results1 for its first 83 days of operation, providing an initial look at its financial performance since it began operations as a new company on July 10, 2009.    » read more »

U.S. EPA Recognizes ExxonMobil for Reducing Methane Emissions Through Technology Advances and Operational Excellence

Nov. 16, 2009 -- HOUSTON -- ExxonMobil Production Company received a 2009 Continuing Excellence award from the U.S. Environmental Protection Agency (EPA), under its Natural Gas STAR Program.

The Natural Gas Star Program recognizes companies that apply cost-effective technologies and management practices to improve operational efficiency and reduce methane emissions. The Continuing Excellence Award is presented to companies that annually self report to the EPA and continually demonstrate a high level of performance in reducing emissions, implementing a variety of technologies and practices, and supporting the program's activities, initiatives, and outreach.    » read more »