January 13, 2010 (FinancialWire) — Smart-Tek Automated Services Inc., a subsidiary of Smart-Tek Solutions Inc. (OTCBB: STTN) has appointed Kelly Mowrey as COO.
Mowrey most recently served as the vice president of Corporate Sales for Allegiant Professional Business Services.
At Smart-Tek, Mowrey will be responsible for creating and implementing short and long range goals, objectives, policies and operating procedures.
California-based Smart-Tek Automated Services provides financial services to small and medium-size businesses, such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing.
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January 13, 2010 (FinancialWire) — Tri-Tech Holding Inc. (NASDAQ: TRIT), a Chinese company that engineers, manages and monitors municipal sewer systems, natural waterways and other water resources, said it has received a RMB11.5 million (or approximately $1.68 million) contract for Phase I of a wastewater treatment and water recycling plant construction project in Hangu Eco-friendly High-tech Industrial Park of Tianjin Municipality in Northern China.
The total cost to construct the wastewater treatment and recycling plant is RMB72,600,000 (approximately $10.6 million).
Beijing-based Tri-Tech designs customized sewage treatment and odor control systems for China's municipalities and its larger cities.
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January 13, 2010 (FinancialWire) — Green Bridge Technologies International, Inc. (OTC: GRBT) said it has acquired Air Pure Systems Development, Inc., an Indiana company with devices designed to lower output emissions while improving fuel consumption in gasoline engines. Green Bridge Technologies said it purchased 80% of APS for an undisclosed amount of stock, cash and other considerations.
The acquisition of APS is part of Green Bridge’s strategy to acquire or license new energy efficient technologies and bring them to market.
Green Bridge Technologies concentrates on developing and marketing new energy efficient products and services, through its three divisions.
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January 13, 2010 (FinancialWire) — China New Energy Group Company (OTCBB: CNER) said that Willsky Development, Ltd., the company's wholly-owned subsidiary, has agreed to buy all of the outstanding equity interest of Fuzhou Flying Dragon Zhongran Gas Inc. from Flying Dragon Resource Development Ltd. and Flying Dragon Investment Management Ltd., for RMB 26 million (approximately $3.8 million).
The purchase price is payable in three installments based on the satisfaction of various mutually agreed upon closing conditions.
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January 13, 2010 (FinancialWire) — KKR Financial Holdings LLC (NYSE: KFN) has priced a public offering of convertible senior notes due 2017. Total aggregate gross proceeds from the offering are approximately $150 million.
The offering is scheduled to close on January 15, 2010, subject to customary closing conditions.
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January 13, 2010 (FinancialWire) — Monsanto Co. (NYSE: MON) and Irish biotechnology firm Stokes Bio Ltd., have entered into a licensing agreement and R&D collaboration, which is expected by the firms to help accelerate the pace of new advancements in plant breeding.
Under the agreement, Monsanto has exclusive rights to Stokes Bio's patented technology for use in agriculture.
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January 13, 2010 (FinancialWire) — CVS Caremark Corp.’s (NYSE: CVS) board of directors has approved an increase in the company’s quarterly dividend of approximately 15%, to 8.75 cents per share on the CVS common shares, payable February 2, 2010 to holders of record on January 22, 2010.
The increase translates into an annual rate of 35 cents per share, up 4.5 cents per share from the previous rate of 30.5 cents.
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January 13, 2010 (FinancialWire) — Callaway Golf Co. (NYSE: ELY) has launched Callaway Golf India, a new wholly-owned subsidiary. The company also reported an agreement with Jeev Milkha Singh, an Indian pro golfer who has played Callaway Golf equipment for years, and will now serve as Callaway Golf India's brand ambassador.
Singh is currently the 50th- ranked golfer in the world and the first Indian golfer to become a member of the European Tour.
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January 13, 2010 (FinancialWire) — Misonix, Inc. (NASDAQ: MSON), a developer of minimally invasive ultrasonic medical device technology, has entered into a new, three year distribution agreement with Neuromed Chile, S.A., based in Santiago, Chile, for the distribution of the firm’s SonaStar Ultrasonic Surgical Aspirator and the BoneScalpel Ultrasonic Bone Cutter.
The agreement provides Neuromed with the exclusive rights to sell in Chile and includes minimum purchase requirements, according to Misonix. The addition of Neuromed marks the company’s 7th distributor in Latin America and its 29th distributor for the export market.
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January 13, 2010 (FinancialWire) — BorgWarner (NYSE: BWA) said that Ford Motor Co.’s (NYSE: F) gasoline turbocharger technology for the automaker’s new four-cylinder EcoBoost engine, which is scheduled to make its global debut early in 2010. The direct-injected 1.6-liter and 2.0-liter gasoline engines combine turbocharging and fuel injection technology in an effort to deliver greater fuel economy.
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January 13, 2010 (FinancialWire) — Smart-Tek Automated Services Inc., a subsidiary of Smart-Tek Solutions Inc. (OTCBB: STTN) has appointed Kelly Mowrey as COO.
FirstAlert(tm) Daily 1/13: China Rate Hike Signals More Trouble Ahead
- Analytical Commentary -
To be sure this may or may not be challenged further in the next few days. But there is a new worry to be added to the list. Aside from the general uncertainty about what year 2 will bring from the Obama administration, investors now have to worry about China, which in the last few days has made two moves toward raising interest rates. If the wave of higher interest rates spreads and catches on in the rest of Asia, as others rush to defend their currencies, it could have a ripple effect on the region’s markets. This could be even worse if it begins to affect the currencies across the oceans, meaning the U.S. and Europe. In 1998, a run on the Thai Bhat led to a global market meltdown.
It’s early to consider that as a possibility, but stranger things have happened. And global stock markets, which have been rallying for nearly 10 months are due for some sort of pullback, which raises the tension on the tape, especially during earnings season.
Key support for the S&P 500 is within the 1106-1126 trading band, which defines the range between the 20 and the 50-day moving averages. Be especially aware of what happens to Asian currencies and bond markets and whether there is a spillover into Europe and the United States on Wednesday.
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