Kataria finds business of diversity is a hot sell NEW BRUNSWICK, N.J. - While the economy tailspins, business gurus and forward-looking entrepreneurs are searching for the next hot market. Niraj Kataria, chairman of DiversityInc., thinks his company has found it - and its success makes a strong case.
Playing for keeps SAN MATEO, Calif. - Well known as a serial entrepreneur and credited with being the first Indian to take a company public on the Nasdaq stock exchange, Umang Gupta appears to have settled down for the time being with a company he believes is in it for the long haul.
Intelligroup hits highest numbers since early 2001 EDISON, N.J. - Intelligroup Inc. reported its highest financial results in the past seven quarters.
Fourth quarter 2002 revenues increased to $28.9 million, from $28.4 million in prior quarter; EBITDA (excluding special charges) for fourth quarter increased slightly to just over $1.
Maxygen reports $41.8 million revenues for 2002 REDWOOD CITY, Calif. - Maxygen Inc. reported $41.8 million in revenues for 2002, up from $30.5 million in 2001. The company also reported a net loss of $33.9 million for 2002, compared to a net loss of $40.5 million in 2001.
Contrary to experts' advice, companies can drum up own publicity Small business owners and entrepreneurs face the lifelong challenge of getting the word out on their business or product. For many it is a chief priority - as well it should be. Let's face it: no buzz, no clients. No money, no glory. Heck it's a snowball!
7-Eleven dreams up doughnut, e-commerce kiosks DALLAS - 7-Eleven Inc. is on the move as of late with several new services aimed at drawing in customers and challenging competition - the debut of the Dreammm Doughnut and the Vcom electronic-commerce kiosk.
Diplomat head chairs forum on Indian hospitality ATLANTA - Mike Patel, president of the Atlanta-based Diplomat Companies, recently returned from chairing a special forum to encourage hospitality and tourism in India. The event was held in Delhi as part of major three-day Pravasi Diwas sponsored by the Indian government and hosted by Jagdeesh Chandra Sharma, Secretary of the Ministry of External Affairs.
Expo expected to reflect growing interest PARAMUS, N.J. - MFV Expositions, organizer of the International Franchise Expo, has every reason to believe this year's conference will reflect a growing interest in franchising - as is usually the case during a down economy.
Franchise industry can help lead economy out of recession A year of reality based decisions in the "new normal economy" will set the course for a solid four to five percent expansion in franchise growth and development in 2003, according to the 12th Annual Franchise Business Forecast and Trends Analysis conducted by Franchise Recruiters Ltd.
Franchise executives, responding to the survey nationwide, project a year of surprises as franchise unit expansion plows through an economy in transition. Franchisors contend that nothing appears to change in a phlegmatic business cycle, and yet, nothing stays the same as this economy evolves.
Franchising not without risk - pros/cons need consideration Franchising is a proven business method, but it, like any other business venture, demands long hours, hard work and the ability to follow a proven system. It is not risk free. I urge you to carefully consider the advantages and challenges of this business format before investing.
Mail Boxes Etc. conversion prompts talk of legal action ATLANTA - The United Parcel Service of America Inc.'s proposed conversion of 3,300 Mail Boxes Etc. Inc. franchises to The UPS Stores has drawn a mixed reaction from store owners - with some seeking legal action to stop the conversion and others accepting the change.
Mezzanine financing fills gap between your bank and wallet Despite the difficult economic business climate that has prevailed for the past several years, franchising as an industry has achieved sustained growth. Even in a highly publicized "credit crunch", senior lenders - those that lend primarily against the cash flow or the inventory and accounts receivable of a business - appear ready to finance franchise opportunities.
Mid-market, economy hotels continue to buck sales trends Despite the slow recovery of the U.S. lodging industry, hotel sales activity in the mid-market and economy segments continues to be brisk.
In 2002, approximately 370 lodging properties changed hands, an increase of nearly 40 properties over 2001. Experienced hotel ownership, the ongoing slow pace of supply growth and a rebound in the national economy will enable the lodging market to realize improved operating fundamentals through 2003, which will energize the capital markets and further increase deal-making between owners and investors.
Survey: Foreign hotel investment up WASHINGTON - A survey by the Association of Foreign Investors in Real Estate has reported an increase in interest in the U.S. hospitality industry.
That's a wrap! ATLANTA - The Great Wraps franchise chain has been on the move in recent years-benefiting from a name change and popularity in the South Asian-American business community.
The Atlanta-based Great Wraps Inc. has about 50 stores, located predominantly in the Southeast region of the United States.
According to the company, approximately 50 percent of its stores are owned by South Asian-Americans.
"I've found more and more that the Indian community is a rich source of entrepreneurs," said Great Wraps' chairman Mark Kaplan.
Windsor Hotel is a blast from the past AMERICUS, Ga. - When Sharad Patel bought the Windsor Hotel in 1998 he knew it wasn't a get-rich-quick kind of investment. But he felt the property's historical value outweighed buying a string of franchise-brand hotels.
The previous owners, Windsor LP, had sunk $6 million into the restoration of the century-old hotel in the historic downtown of Americus. And even as Patel arranged to buy the Windsor for $1.1 million, he was already planning to spend close to two-thirds that much to continue restoration.
AAPI uncovers high rate of diabetes in Indian Americans OAKBROOK TERRACE, Ill. - Several weeks after Congress awarded the American Association of Physicians of Indian Origin $500,000 to study diabetes among Indian Americans, the group released harrowing results from a study already under way.
Corporate Notes PALO ALTO, Calif. - Tibco Software Inc. announced that Fox Chase Cancer Center of Philadelphia, Pa., has selected Tibco to integrate core systems, such as patient records, clinical information and research databases. The integration allows patients and their medical care team to have a more comprehensive view of patient records through a secure interface. Vivek Ranadive is chairman and CEO of Tibco.
Personnel File GAITHERSBURG, Md. - Rohini Anand, has been named senior vice president and chief diversity officer of Sodexho.
Indian radar deal turns sour, leads to legal actions WASHINGTON - Apex Technology Inc., a defense-contracting firm, has initiated legal proceedings against Thales Raytheon Systems alleging it violated the terms of its contract regarding the sale of weapon-locating radar equipment to the government of India.
Infospace sues founder Jain BELLEVUE, Wash. - Infospace Inc. has filed a lawsuit against founder and former chairman and CEO Naveen Jain and his new company Intelius. The suit alleges that Jain and Intelius have breached "fiduciary and contractual duties" owed to Infospace.
Lawsuit slams Sun's 'bias' for Indian H-1B workers PALO ALTO, Calif. - A lawsuit filed in California against Sun Microsystems Inc. claims the company laid off over 2,500 U.S. employees as part of a "scheme" to replace them with cheaper H-1B workers from India.
The class-action lawsuit was brought by Walter Kruz, an employee at Sun from May 2000 until late 2001, and filed in state Superior Court in Santa Clara.
Tech workers are America's new slaves The new generation of American slaves is information technology gurus and Ph.D.'s in the scientific disciplines. They are helping build America's technology base much like the slaves of yore built America's agricultural base. They labor long hours, toil ceaselessly only to be rewarded with the all-mighty dollar and if they are lucky perhaps a green card.
Data-management, security top 2003's hot technology list What are and will be this year's hot technologies? Considering today's insatiable appetite for information and data as well as continuing increased clamor for security, it's no great surprise what tops the list. Behold a rundown of 2003's likeliest hot products:
Primus' gamble pays - debt reduced by $700m MCLEAN, Va. - Led by president and CEO K. Paul Singh, Primus Telecommunications Group Inc. has made some shrewd financial moves, which has kept the company afloat and brought some unheard of financing for a telecom company.
At the start of the year, Primus reported selling $42 million in stock to the American International Group Inc. for equity. What makes Primus so attractive given that many telecom companies have gone belly up and investors have avoided them like the plague?
It's just a matter of numbers.
Patents should not be considered a positive right thought you might like to know that your guest column on intellectual property in March 2003 edition on page 13 ("Intellectual Property, Patents Play Crucial Role in Biotech Growth") under subheading, "What is a Patent" erroneously defines patent as a positive right.
WaterCove secures $20m VC, paving way through 2004 CHELMSFORD, Mass. - Startup WaterCove Networks Inc., whose products allow high-speed wireless access to the Internet, has pulled in an additional $20 million in venture capital - bringing its total to $70 million.