Spangler pleads not guilty in $48M fraud case
May 18, 2012
Seattle financial adviser Mark Spangler has pleaded not guilty to federal criminal charges accusing him of defrauding investors of nearly $48 million by secretly diverting their money to startup companies he co-founded. Spangler, the former head of the National Association of Personal Finance Advisors, founded an investment advisory company called The Spangler Group that he ran from his home in Seattle. On Thursday, a Seattle grand jury indicted the 57-year-old Spangler on 23 criminal charges,…
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Spangler pleads not guilty in $48M fraud case
Facebook buys social gift app maker Karma
May 18, 2012
Facebook Inc. made its first acquisition as a public company on Friday. It bought social gifting app developer Karma for an undisclosed sum, picking up 16 employees. The app site will continue to stay up and be functional, so it doesn’t appear this wa a simple acqusition of talent. Karma was funded by Kleiner Perkins, Obvious Corporation, Sequoia Capital and Felicis Ventures
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Facebook buys social gift app maker Karma
Expect more debate between A320neo and 737 Max as Boeing tries to catch up to Airbus in orders
May 18, 2012
Expect to see a brass-knuckle battle for orders in coming months as Boeing and Airbus vie for market share in the all-important narrow body jet market. Here in Boeing country, people may take comfort in Boeing claims that the 737 Max will be more fuel efficient than the competing Airbus A320neo. But the bottom line is aircraft sold, and at this moment, Boeing is still playing catch-up. The tightness of the race is indicated by Boeing’s announcement Thursday that it plans to increase the fan size…
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Expect more debate between A320neo and 737 Max as Boeing tries to catch up to Airbus in orders
Judge: Mastro creditor Hazelrigg must redo bankruptcy papers
May 18, 2012
U.S. Bankruptcy Court Judge Timothy Dore ruled against Bellevue businessman Tom Hazelrigg III Friday morning, saying Hazelrigg could not refuse to answer questions about his finances in his involuntary bankruptcy by making a blanket assertion of his Fifth Amendment privilege against self-incrimination. Hazelrigg had turned in largely blank bankruptcy schedules earlier with a notation that he was asserting his Fifth Amendment right. “It’s hard to imagine some of these questions are protected..
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Judge: Mastro creditor Hazelrigg must redo bankruptcy papers
ITC sides with Microsoft in Motorola patent infringement case
May 18, 2012
Motorola will have to modify its Android smartphones or pay Microsoft a licensing fee if it wants to continue selling them in the United States. After postponing its decision several times, the U.S. International Trade Commission ruled Friday that Motorola’s Android phones violate a Microsoft patent, and ordered an import ban for the offending devices. “Microsoft sued Motorola in the ITC only after Motorola chose to refuse Microsoft’s efforts to renew a patent license for well over a year,”…
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ITC sides with Microsoft in Motorola patent infringement case
Felicis Ventures III raises $52M
May 18, 2012
Felicis Ventures III, L has raised $52 million, according to a regulatory filing with the U.S. Securities and Exchange Commission. The related parties listed on the filing include: N/A Felicis Ventures Gp Iii, Llc, director and Aydin Senkut, director. Senkut is the founder and managing director of Felicis Ventures
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Felicis Ventures III raises $52M
The Funded: Sureline Systems, Integrated Resource Recovery, AlephCloud Systems
May 18, 2012
Here are fundings from Silicon Valley companies, announced or filed recently with the U.S. Securities and Exchange Commission. The Funded is a recurring feature where we post new fundings that cross our desks, as well as an archive of past fundings. AlephCloud Systems Inc. raises $1.6M of $1.8M The Saratoga-based company sold equity, options, warrants and securities to raise the funds.The related parties listed on the filing include: Roy D’souza, executive, director; Kumar Malavalli, director;…
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The Funded: Sureline Systems, Integrated Resource Recovery, AlephCloud Systems
For tech companies, patents can be cash cows, huge legal expense
May 18, 2012
While most people’s eyes glaze over when you mention patents and intellectual property law, they can have a significant impact on a company’s bottom line — both in revenues and legal fees. Microsoft, to name one Puget Sound-area company, is involved in more than 60 patent infringement lawsuits, according to recent Securities and Exchange Commission filings. While the company wouldn’t tell me how much it spends on legal fees, a survey published by the American Intellectual Property Law Association…
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For tech companies, patents can be cash cows, huge legal expense
South Bay unemployment rate numbers down for April
May 18, 2012
The unemployment rate for the San Jose-Sunnyvale-Santa Clara metropolitan statistical area was 8.4 percent for April, down compared to 9.3 percent in March. This compares to 9.8 percent a year ago. Sectors adding jobs included leisure and hospitality, professional and business services, government jobs, manufacturing, trade transportation, and utilities. The area also includes San Benito County. For the San Francisco-San Mateo-Redwood City area, the unemployment rate was 7 percent for April, and…
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South Bay unemployment rate numbers down for April
Regional stocks: Facebook IPO fails to rally investors
May 18, 2012
The much-anticipated Facebook IPO didn’t do much to lift the market on Friday. The Dow Jones Industrial Average closed down 73.11 points to 12,369, the NASDAQ closed down 34.90 points to 2,778 and the S&P 500 closed down 9.64 points to 1,295. The Davidson 99, which measures stocks in seven western states, including 19 in Oregon, closed down 1.63 points to 166.53.
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Regional stocks: Facebook IPO fails to rally investors
