ROCHESTER HILLS ? Energy Conversion Devices announced Thursday that it private investors have agreed to purchase more than five million shares of the alternative energy company?s stock worth $87.8 million. The shares of common stock will be issued at a price of $17.25 per share on Feb. 15. ECD Ovonics has agreed to file a
NEW YORK ? A security analyst speculated in a research note that Pfizer may slash 30 percent of the 38,000 jobs in its sales and marketing staff, which is located primarily outside Michigan. But a Pfizer spokesman said the changes, to be announced in April, could impact other Pfizer jobs as well. According to Lehman
TROY ? Jeff Recor, who launched Walsh College?s Information Assurance Center two years ago, will leave the post on March 1. He will be replaced by Nanette Poulios, an adjunct faculty member at Walsh. Recor will continue teaching as an adjunct instructor and will serve as an adviser to the Master of Science in Information
LANSING ? Gov. Jennifer Granholm's plan to close a $381.7 million deficit in the current 2004-05 fiscal year focuses on closing prisons, cuts to public universities and community colleges and cutbacks at the Family Independence Agency, according to a copy of the executive order reductions obtained by Gongwer News Service. The executive order itself contains
LANSING ? The Michigan Venture Fund, once activated, should generate 6,000 jobs in Michigan. But first the Fund has to pass muster with the IRS to get its non profit status and the fund manager has to be named, Michigan Treasurer Jay Rising said in The Interview. Rising, in a question and answer session with
LANSING ? President Bush's $2.57 trillion budget could end up costing the state in a number of areas, especially in regards to Medicaid spending, Gov. Jennifer Granholm's Washington aide said. Beyond Medicaid, the state is worried about suggested cuts to community development block grants and programs that help pay for police officers. "We're hugely worried
DETROIT - Asterand, which supplies human tissue products and services, will now distribute eleven cancer cell lines under license from the University of Michigan. The SUM cell lines, derived in the laboratory of Dr. Stephen Ethier, now at the Karmanos Cancer Institute in Detroit, are among the most well characterized cancer cell lines currently used
LANSING ? Gov. Jennifer Granholm's proposal to reform the Single Business Tax cannot succeed in the Legislature without business support, and Treasurer Jay Rising said his task now is to make sure businesses understand all the aspects of the proposal before they decide on support or opposition. "We know from experience that this is a
GRAND RAPIDS ? The Grand Angels has a face, Jody Vanderwel, who has been named the group?s first president. Vanderwel formerly was Corporate Counsel and Vice-President of Corporate Giving at Herman Miller. Grand Angels one of three major groups in the state that builds networks of angel investors ? high net worth individuals that invest
ANN ARBOR ? We lost another Michigan technology company to California, this time Indigo Security, which was purchased by Silicon Valley-based Tablus. Indigo?s development team will move by the end of the first quarter to San Mateo, leaving only its sales and marketing staff in Ann Arbor. Tablus provides information security solutions and is backed