NEW JERSEY BUSINESS NEWS The StarLedger

Biz Buzz NJ Market reports and Jersey business news. Weekdays Business Updates from our newspapers and more. Weekdays Your email address You must respond to a confirmation email to activate your subscription. Zip code Check if outside U.S. Gender optional Male Female See our privacy policy . Want updates about new features and special offers from this site affiliated sites publications companies Yes No Younger than Please don t submit any information to us. ADVERTISEMENT LATEST MARKET UPDATES Investing Stocks Quickrank A Z List Week High low Index Performance Market Movers Mutual Funds Quickrank A Z List ETFs Quickrank Get a Quote Enter a stock or fund symbol ASK THE EXPERTS Get answers to your personal income tax filing questions. An Advertising Section SERVICES INFO Browse Business Financial ads from our Newspapers An Advertising Section BUSINESS TALK Hot topics in forums Business Job Hunting MORE FORUMS COLUMNISTS Steve Adubato The sound of silence can be a powerful tool ! Alky Danikas Variable insurance annuities differ Allan Hoffman Check out your hotel online before checking in Charles Jaffe Karin Mueller Couple s big challenge A negative cash flow ALL COLUMNISTS ASK BIZ BRAIN Your business questions answered Ask the Biz Brain Ask the Biz Brain BUSINESS NEWS AMERICAN BUSINESS DAILY With BIZJOURNALS ChoicePoint sold to LexisNexis parent in . B deal Microsoft to share some software secrets MORE STORIES PHARMALOT From The Star Ledger FDA Approves Avastin For Breast Cancer p.m. ET Leavitt Tells Congress FDA Needs More Authority p.m. ET MORE STORIES PRESS RELEASES Business Wire Latest company news PR Newswire Latest company news PORTFOLIOS Sorry stock portfolios from our previous system did not transfer over. Go to your portfolio Home News Sports Forums Blogs Multimedia Entertainment Jobs Autos Real Estate Classifieds Shopping Complete Forecast RSS Feeds RSS Terms and Conditions Site Index About Us Contact Us Advertise Help Feedback The Star Le! dger The Times Trenton The Jersey Journal Gloucester Co. Times The Express Times Bridgeton News Today s Sunbeam New Jersey On Line LLC. All Rights Reserved. Use of this site constitutes acceptance of our User Agreement Privacy Policy and Advertising Agreement

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Saturday22308 Las Vegas Sports Line Gaming Radio w Dave Scandaliato starts at 1200am PDT Feb 232008

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Business Highlights

Business Highlights Forbes.com Home Business Tech Markets Entrepreneurs Leadership Personal Finance ForbesLife Lists Opinions Video Blogs E mail Newsletters People Tracker Portfolio Tracker Special Reports Commerce Energy Health Care Logistics Manufacturing Media Services Technology Wall Street Washington CIO Network Enterprise Tech Infoimaging Internet Infrastructure Internet Personal Tech Sciences Security Wireless Bonds Commodities Currencies Economy Emerging Markets Equities Options Finance Human Resources Law E Mail E Mail Newsletters RSS AFX News Limited Business Highlights . . PM ET NEW YORK AP Wall Street staged a dramatic turnaround Friday shooting higher in the last half hour of trading after word that a bailout plan for troubled bond insurer Ambac Financial could be announced next week. The major indexes were narrowly mixed following a week of choppy trading. CNBC reported shortly before the closing bell that a plan to help shore up the finances of Ambac Financial! Group nyse ABK news people Inc. could be announced Monday or Tuesday. Ambac shares jumped on the report and finished up . or percent at . . The market s turnaround came after nearly two full days of selling. The Dow Jones industrial average had been down nearly points but by the close showed a point reversal from its lows of the session. NEW YORK AP A plan to bail out the struggling bond insurer Ambac Financial Group Inc. could be announced Monday or Tuesday CNBC reported Friday citing bankers working on the deal. There is a consortium of banks including Citigroup Inc. nyse C news people UBS nyse UBS news people AG Wachovia Corp. nyse WB news people and Royal Bank of Scotland Group other otc RBSQY.PK news people PLC working with the New York State Insurance Department on a possible solution to the Ambac s problems a person familiar with the discussions told The Associated Press. Ambac shares jumped late Friday and finished up . or percent at . . WASHINGTON AP A drug made b! y Genentech nyse DNA news people received federal approval on Friday to treat breast cancer a decision that could represent a major shift in standards for assessing the effectiveness of cancer medicines. Going against the recommendation of its advisory panel the Food and Drug Administration cleared Genentech s Avastin which is already approved for treating lung and colon cancer based on findings that it slowed tumor growth. Advocates for breast cancer patients applauded the ruling. Genentech said FDA granted the drug preliminary approval and the company will have to submit additional data. HOUSTON AP Three British bankers were sentenced Friday to just over three years in prison for their roles in a fraudulent scheme with former Enron Chief Financial Officer Andrew Fastow and they re hoping to serve some of that time back home. A federal judge sentenced David Bermingham Giles Darby and Gary Mulgrew each to months. They each pleaded guilty in November to one count of wire fraud as part of a plea agreement after initially saying they were innocen! t of colluding with Fastow in a secret financial scam in to enrich themselves at their employer s expense. VANCOUVER British Columbia AP A U.S. private equity fund will buy CHC Helicopter Corp. nyse FLI news people for . billion Canadian dollars . billion in what the companies described Friday as the largest oilfield services buyout ever. First Reserve Corp. a private equity firm that invests in energy companies said CHC s board unanimously approved the all cash deal. Shares of CHC soared nearly percent or . to . after the deal was announced. DETROIT AP The United Auto Workers and General Motors Corp. nyse GM news people have taken a big legal step toward shifting billions in retiree health care costs from the automaker to an independent trust fund. The union and attorneys representing several retirees sued GM on Thursday in U.S. District Court in Detroit in an effort to get court approval of the change. It would cover about GM retirees and spouses plus current UAW workers ! when they retire. The lawsuit is not a hostile action. GM will not oppose its major points and joined the UAW and retirees in filing a settlement agreement that would govern how the trust would be run. NEW YORK AP Gas prices jumped Friday to their highest level since June a possible preview of what many analysts believe will be a record spike in pump prices this spring. But the current price surge could be short lived. While gasoline has risen sharply in recent days in response to oil s dramatic climb to a new record above a barrel gas supplies have quietly grown to their highest level in years. At the pump gas prices rose . cents overnight to a national average of . a gallon according to AAA and the Oil Price Information Service. That was the highest since June . MONTEREY Calif. AP U.S. Agriculture Secretary Ed Schafer said Friday the nation s largest beef recall has set back negotiations to ship U.S. beef to Japan and South Korea. Those markets closed to the U.S. cattle industry in after a scare over mad cow disease. Schafer said at a conven! tion of meat packers and processors that he is hopeful trade talks will continue but that the Westland Hallmark Meat Co. recall has diplomats asking why the U.S. can t ship safe meat. Copyright Associated Press. All rights reserved. This material may not be published broadcast rewritten or redistributed. Neither the Subscriber nor AFX News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site including news quotes data and other information is provided by AFX News and its third party content providers for your personal information only and neither AFX News nor its third party content providers shall be liable for any errors inaccuracies or delays in content or for any actions taken in reliance thereon. Read All Comments More On This Topic Companies ABK C WB UBS RBSQY.PK transformedStoryStr transformedStoryStr.replaceAll out.write transf! ormedStoryStr Article Controls E Mail E Mail Newsletters del.icio.us Digg It My Yahoo Share RSS Related Sections Home News Analysis News Headlines More From Forbes.com Special Reports Subscriptions Subscribe To Newsletters Subscriber Customer Service ADVERTISEMENT Related Business Topics Starting A Small Business Small Business Loans Trading Center Brought to you by the sponsors below CEO Book Club Book Review James McBride Book Review Spirituals Marisa Rindone James McBride s second novel impresses and inspires. 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Market rebounds ends higher on bond insurer news Reuters via Yahoo News

U.S. stocks ended higher on Friday as news that a bailout for bond insurer Ambac Financial Group Inc ABK.N was imminent sparked a late rebound in financial shares. Based on the latest available data the Dow Jones industrial average .DJI finished unofficially up . points or . percent at . . The Standard s Index .SPX climbed . points or . percent to end unofficially at . . The Nasdaq Composite Index .IXIC gained . points or . percent for an unofficial close at . . For the week the Dow finished up . percent and the S Editing by Jan Paschal Email Story IM Story Printable View RECOMMEND THIS STORY Recommend It Not at All Somewhat Moderately Highly Very Highly Average Not Rated Recommended Stories Business News Stocks turn positive after Ambac report AP Ambac bailout may come next week report AP FDA clears Avastin for breast cancer AP Bankers each get months in Enron case AP Private equity firm buys CHC Helicopter AP Most Viewed Business Talk of bond insurer rescue spurs late stoc! k rally Reuters Stocks turn positive after Ambac report AP More homeowners say their homes depreciated survey Reuters Bankers each get months in Enron case AP FDA clears Avastin for breast cancer AP Business Video Sex Offender Rebate FOX Business Now minutes ago Big Boom in the Concierge Business ABC News minutes ago Critter Credit FOX Business Now minutes ago Hoofy And Boo Diversifying Your Portfolio FOX Business Now minutes ago Sponsored Links What s this Invest In Your Future We ll Teach You How To Take Control Of Your Real Estate Education . www.reinvestorsolutions.com Wills and Estates Wills probate and estate planning attorney in the DFW metroplex area. thewrightlawyers.com Earn From . to . With AAA rated GE Capital Corp. Not an offer of securities for sale. www.geinterestplus.com Reuters Photo Traders work in the oil futures pit of the New York Mercantile Exchange in New. Slideshow Stock Markets Business Video Sex Offender Rebate FOX Business Now Big Boom in the Conc! ierge Business ABC News All news video RELATED QUOTES DJI . . IXIC . . GSPC . . Delayed Data Providers Disclaimer Elsewhere on the Web CNN.com Brazil dances with OPEC Time.com Oil s Sky High Forecast USATODAY.com Gasoline diesel prices leap toward records Today s Business Microsoft Shares Lloyds Cheers. Read today s column Personal Finance Get advice on how to manage the outcome of your income. IN Yahoo NEWS Technology News Get the latest news features and photos. Add headlines to your personalized My Yahoo page About My Yahoo and RSS Stock Markets News Add to My Yahoo Add to RSS More news feeds NEWS ALERTS Get an alert when there are new stories about The Standard Nasdaq Composite Index S P Nasdaq Dow Jones industrial average More alerts Yahoo My Yahoo Mail Search All News Yahoo News Only News Photos Video Audio Advanced Primary Navigation Home U.S Business World Entertainment Sports Tech Politics Science Health Travel Most Popular Odd News Opinion Copyright Reuters Limited. All rights reserved. Republication or redistribution of Reuters cont! ent is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content or for any actions taken in reliance thereon

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Derrick Walker. Photo by Bob Heathcote. The possible merger now appears to be on hold while new rumors of CCWS moving toward bankruptcy protection have surfaced. We ve been hearing those rumors since Friday and as we ve continued to say our doors are open and people are working CCWS Executive Vice President Communications David Higdon told the Associated Press. We re proceeding with our plans and will keep operating as Champ Car. The two top American based open wheel series have had discussions in the past that led nowhere. Will they again Or this time will they come to some sort of agreement for the future The future does not need to be tomorrow or even this year but it could happen in once details are worked out and a firm schedule combining race venues. If the merger does happen for the season others from track owners to promoters to the chassis and engine manufacturers could lose out financially. In the current economy that is never a good sign. For one man planning for ! the future no matter what happens is foremost in his mind. With over years of experience in auto racing from Formula One to the former Championship Auto Racing Teams CART and to the IRL Derrick Walker has been there and seen it all. In his statement to the fans of open wheel racing on his website www.walkerracing.com Walker stated Over the last couple of days there has been a lot of speculation as to what is happening with Champ Car and Walker Racing Team Australia. We are sure that the fans have heard and read a lot of the rumors that are circulating about Champ Car and we thought it was important to give them a little perspective on Walker Racing s point of view about the issue of the potential merger and our current status. Currently Walker is a team owner in the Atlantic series and co team owner with Craig Gore and John Fish in Champ Car Team Australia . Last year the Aussie Vineyards team driver Will Power finished fourth in the Champ Car final standings. On Feb. th Go! re announced that he was closing the doors of his WPS WOW Racing team in the Australia V Supercar Series but made it clear that the Champ Car team was still on the books for . Will Power leads at the start. Photo by Troy Hart. Per the press release Gore also remains committed to his Team Australia motorsport program and driver Will Power in the Champ Car World Series in the United States where Team Australia is backed by Gore s Australian wine export company Aussie Vineyards and its Au brand. Recently Walker Racing took part in the Atlantic open test at Sebring with drivers Kevin Lacroix and the two Mansell brothers Greg and Leo. Yet his Champ Car team was a no show only a few days before for the Champ Car portion of the test. The rookie driver for Team Australia Simon Pagenaud was in Sebring testing for Conquest Racing. It makes all the sense to pull both series together and that s obviously been tried many times before and now there has been a lot of discussion about the possibility of it happening again. However there is great difficulty in! being able to pull those series together at this time of the year for IRL or Champ Car said Walker in his open letter to the fans. Due to his business acumen and life long commitment to have an active role in motor sports it is no surprise that he would consider making a return appearance to the IRL fielding at least one car in the IndyCar Series. Walker alluded to the team s possible plans From a Walker Racing standpoint Craig Gore my partner in Team Australia has expressed many times to continue his involvement in the Team Australia program with Will Power whether it is in Champ Car or in a merged series. As of yet those plans are on hold until we know what is happening with the potential merger. Our interest in the IRL was formulated sometime ago. We looked at the possibility to run two open wheel series cars in our facility again . So the idea of running in the IRL is not a new concept for us and is not a concept that was born out of that fact that there would be a mer! ger or that Champ Car could disappear he resolved. Sarah Fisher. Photo by indyracing.com Ron McQueeney. Walker has moved his way up the ladder from mechanic to team owner. He has seen the best of times and the worst of times. Through it all the Scotsman kept forging ahead always looking at what the future might hold. Many forget that Walker already has ties with the IRL including with his former boss Roger Penske. During his tenure with Penske including a vice president role when the team was with CART Walker helped lead the team along with the Captain to five championships and five Indianapolis wins. In Walker Racing fielded a car in the IRL for rookie Sarah Fisher. She became the third woman to qualify for the Indy that year. Fisher also led nine laps at Kentucky before finishing third her best finish in her debut season. The following year Walker and Fisher earned their best career finish at Homestead Miami. The second place finish went into the record books as the best result by a woman in either the IRL or Champ Car. The record has been t! ied but not yet broken. During those same two years Walker Racing also continued to compete in Champ Car. If he does both again this year it truly is not too much of a challenge for Walker. He obviously is disappointed with the continuation of the open wheel racing split but at the same time he looks toward the future. In his release to the fans on his website Walker commented The future for open wheel racing is somewhat uncertain but the encouraging sign is that all parties are talking. There is nothing that seems to be off of the table at the moment. It s just an awkward time where everyone is on hold and the media is trying to get the story out there to the fans but it s too premature to be able to tell the story because the discussions really have to be finished before everyone in the IRL and Champ Car know what potentially could happen. If Champ Car continues on and we have the funding it s very likely that Team Australia would continue and it s also quite possible tha! t we could successfully secure sponsorship for the IRL and have an IRL program as well. Derrick Walker and Simon Pagenaud. Photo by Bob Heathcote. Will Walker Racing be putting too many eggs in the basket if he does all three series Only time will tell but due to his making his thoughts public he obviously felt that the fans of open wheel racing are important to the team. Walker was very clear on not wanting to appear in the middle of the two series and their discussions in his online statement My last comment from a Walker Racing perspective we are a small specialized company running in open wheel racing. We are non political. We see open wheel racing as open wheel racing and we go where our business leads us. If it s in two series or if it s better for the business to be in one series then we will be where we can get the corporate support to be able to keep racing. Thank you for your support as fans and we will do our best to keep you all posted. Discuss this article in the Motorsport.com Forums channel IRL CHAMPCAR . News Magazine Photos St! atistics Directory Compete Forums Contact Ad info Corporate Join us Newsletters Copyright Motorsport.com Inc. All rights reserved. Please read our Disclaimer Trademark and Privacy policy .

Source: http://www.motorsport.com/news/article.asp?ID=279817&FS=CHAMPCAR


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Wilkinson Homestead makes ACN

Jeff Kessler has a good story about the Wilkinson Homestead in this week s issue of the Antrim County News. He did not have this photo of the WHHS quilt . . . . It s a Torch Lake Views exclusive. I d give you a link to the story but it s not posted on the ACN website yet. I ll see if I can persuade Hadley Robinson to put it up. Yo Hadley Inquiring minds want to know That should do it. As long as we re on the subject there s still time to order geraniums the deadline is February and the order form is on the Wilkinson page over on the right under Community Organizations. Categories Torch Lake memories Tags local history Wilkinson Homestead Historical Society Just a little something for National CherryMonth Leave a response Name Email Website XHTML You can use these tags Your response Categories Adventures outdoors Everything else In Business in Torch Lake In my opinion . . . Torch Lake memories Torch Lake Views CONTACT US Back to front page Subscribe Community organizations Th! ree Lakes Association Upper Torch Lake Association Wilkinson Homestead Historical Society In business in Torch Lake Township Bargy s Farm Market Becky s Beach Brownwood Farms Cherry View Orchards Dock Works Eastport Market Eastport Self Storage Education Outdoors Good Nature Farms King Orchards Peterson s North Pine Hill Nursery Prudential Preferred Properties Simply Hair Sonny s Torch Lake Market Stone Circle Sunrise Acres Torch Bay Inn Torch Cove Cottages Torchport Airpark TSR Inc. Local government and schools Antrim County Central Lake Public Schools Elk Rapids Schools Torch Lake Township Parks and trails Barnes Park DNR Eastport Torch Lake Access Eden Shores Bay Access Torch Bay Nature Preserve William Good Day Park The Neighbors around the Bay Books in Northport French Road Connections Intermediate Lake Association Ken Scott Photography Leland Report Painter Kathleen Kalinowski Peculiar Habitats birding Recent Posts Wilkinson Homestead makesACN Just a little something ! for National CherryMonth Finding links and linkingfinds Students and Community Elders connect during oral historyproject Something aboutAntrim Weatherwhiplash In business a view togrowth The Writing Studio and Bait Shop inWinter Happy AustraliaDay Cowboy on snowshoes Amore in flameproofbooties Archived posts Select Month February January Blog Stats visitors since January Blog at WordPress.com

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Wow

HotFusion Act in seconds think in years. About Categories Apple Current Affairs Film Formula NFL Sports Web Tech Add me to your TypePad People list Subscribe to this blog s feed Powered by TypePad Happy New Year Main RJava February Wow Wow What a Super Bowl game in Glendale Arizona. The game was fantastic. As you all know I work for a company in New York with lots of fun loving Giants fans. I am a massive Vikings fan but I do admit a soft spot for them Giants. During the first quarter it was apparent that the Patriots were going to get man handled by the giant and darn quick defensive line of the Giants. I was really surprise at the offensive line of the Patriots falling apart. Kudos to Eli and the Giants. My family and I attended the NFL Experience at the stadium the day before. The experience was eye opening and tiresome for mom and dad. The kids enjoyed the fun food and sun. Posted at PM in Sports Permalink TrackBack TrackBack URL for this entry http www.typepad.com t tra! ckback Listed below are links to weblogs that reference Wow Comments Post a comment If you have a TypeKey or TypePad account please Sign In You are currently signed in as nobody . Sign Out Name Email Address Not displayed with comment. URL Remember personal info Comments Shopcast powered by www.ThisNext

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