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Articles
7/1/2004

Breaking News
DuPont to buy Verdia for $64m
REDWOOD CITY, Calif., June 3, 2004 - DuPont has signed an agreement to acquire Verdia Inc., a wholly owned subsidiary of California-based Maxygen Inc.

Momenta prices IPO
CAMBRIDGE, Mass. - Momenta Pharmaceuticals Inc. has announced the pricing of its initial public offering of 5,350,000 shares of common stock at a price of $6.50 per share.

OSI Systems sells $32.3m in stock
HAWTHORNE, Calif. - OSI Systems Inc. has entered into a definitive purchase agreement for the private placement of 1,500,000 shares of OSI's common stock to three institutional investors. The agreement will result in gross proceeds of approximately $32.3 million for OSI, the company said.

Editorial
Try not to starve on low-carb stocks
Just as words such as "Atkins," "South Beach" and "low-carb" have permeated cultural lexicon in recent times, they have also made their way to Wall Street - only there is more at stake than losing or gaining a few inches around the waist.

Entertainment
Comic slinger
NEW YORK - The last time Sharad Devarajan talked to the IndUS Business Journal his Gotham Entertainment Group LLC was on the path to becoming a comic book powerhouse. Now, the company has scored with Spider-Man India. In a deal with Marvel Enterprises Inc., Gotham will publish and release the first four issues of the comic in India. According to Marvel, Spider-Man India interweaves the local customs, culture and mystery of modern India, with an eye to making Spider-Man's mythology more relevant to the local audience. Readers of this comic book will not see the familiar Peter Parker of Queens, New York, under the classic Spider-Man mask, but rather a new hero - a young, Indian boy named Pavitr Prabhakar. As Spider-Man, Pavitr is shown to leap around rickshaws and scooters in Indian streets and swing from monuments such as the Gateway of India and the Taj Mahal. Mumbai's first web-swinging super hero will be joined by a reinterpretation of the classic Spider-Man villain, the Green Goblin - reinvented as a Rakshasa, an Indian mythological demon.

Executive Profile
Studying stats to courting clients
NEW YORK - M. Nasim Ali didn't take the standard route to the executive marketing world, but looking back he is convinced the path he chose was the only way a first-generation immigrant could have pulled it off.

For Your Business
Have no fear - learn what not to do in startup
You've dreamed of quitting your day job for some time now. Maybe you have a stunningly innovative product or service that you're itching to spring on the marketplace. Perhaps you're feeling stifled by the limitations - financial, creative and otherwise - of working for someone else. Maybe you even feel the downsizing axe looming over your head. But so far, your enthusiasm has been trumped by your fear. What if you fail? So many potential mistakes lie in wait for the new entrepreneur.

Keep an eye toward finish line and selling business
While the world's greatest athletes prepare to compete in the summer Olympics in Athens, many business owners will be dreaming of a different kind of victory, and will be too busy to take a summer break. The most important triumph many entrepreneurs experience is the successful sale of their business.

Franchise & Hospitality
Agent charged with arson; fire alleged theft coverup
BRIDGEWATER, N.J. - Prema Hegde, owner of World Class Travel agency in Bridgewater, N.J., was charged last month with setting fire to her business to hide a theft.

Fast-bloomer iSold It inks 47 more franchise deals
PASADENA, Calif. - Less than a year into its franchise program, iSold It has inked franchise deals for 47 new stores in Seattle, Dallas and Detroit. The company will now have over 100 franchised locations nationwide.

Former restaurant owner turns to tech with @Wireless
NASHUA, N.H. - Mickey Makkar was driving through Connecticut on his way to New York five years ago when the sign for an unfamiliar store caught his eye.

Grand Heritage opens seafood restaurant in R.I. hotel
PORTLAND, Ore. - Grand Heritage Hotel Group LLC has announced the grand opening of a new McCormick & Schmick's Seafood Restaurant in the historic Providence Biltmore Hotel.

Hampton Inn Jacksonville latest hotel in Elite portfolio
DAYTONA BEACH, Fla. - Elite Hospitality Inc. acquired the Hampton Inn Jacksonville I-95 South.

Industry vet joins AAHOA's fight for fair franchising
ATLANTA - The Asian American Hotel Owners Association has beefed up its industry relations committee by adding hospitality industry veteran Steven J. Belmonte, founder, president and chief executive officer of Hospitality Solutions LLC.

Leasing equipment is the best entree for restaurant owners
The restaurant industry is doing so well. There rarely is a time that I drive by a franchised restaurant during lunch or dinner and don't see lines out the door. It's an exciting time to be in this industry.

Lodgian files for $192m stock offering
ATLANTA - Lodgian Inc., one of the nation's largest independent owners and operators of full-service hotels, has initiated the public offering of 18,285,714 shares of its common stock at $10.50 per share for a total offering of $192 million.

Sree buys Charlotte Hilton, plans $3.5m renovation
CHARLOTTE, N.C. - Sree Hotels LLC acquired the Hilton-Executive Park in Charlotte late last month.

Health & Medicine
AAPI head takes reigns, targets rules for licensing
SAN DIEGO - The American Association of Physicians of Indian Origin will lobby the U.S. government to ease the licensing rules for Indian physicians and work on helping Indian medical graduates, said the organization's new president Dr. Jagan Ailinani.

Immigration
It's time for due process and civil liberties to be restored
Since September 11, immigrants have been subjected to policies that debase our country's fundamental commitment to individual liberties and due process. These policies, including detentions for months without charges, secret hearings, and ethnic profiling, signal a sea change in our government's policies and attitudes towards immigrants. Last month's introduction of the Civil Liberties Restoration Act of 2004 takes a giant step towards redressing these abuses and reining in executive branch overreaching.

Indus on the Record
Corporate Notes
LOS ANGELES - BroadSpire, a web-hosting provider, has launched a new partner program designed to enable non-profit organizations to generate revenue while jump-starting their own growth on the Internet. Effective immediately, the BroadSpire "Host for Charity" program offers qualified, non-profit organizations the opportunity to earn a recurring commission by referring their membership base to BroadSpire as they simultaneously break into online commerce. Suresh Srinivasan is the CEO of BroadSpire.

Personnel File
PITTSBURGH - Carnegie Mellon University has named Pradeep K. Khosla dean of the College of Engineering.

Lists
Largest Indus Biotech and Bioinformatic Companies
1-25 --- > Click on the PDF Icon on the right to view, or goto Adobe.com to download acrobate reader.

Opinion
Consulting costs dragging you down? Try smaller company over larger one
Are poor economic conditions truly the cause of corporate downsizing? Is the health of the economy a good indication of how well or how poorly companies are performing? The root cause for lay-offs has very little to do with the economy, and is more heavily impacted by the mismanagement of funds.

Real Estate
American home inspectors target buyer, seller troubles
RESEARCH TRIANGLE PARK, N.C. - Existing home sales hit their second-highest monthly rate on record in April, according to the National Association of Realtors, and forecasters expect those numbers to remain strong throughout the rest of 2004. But while it's an undeniably hot market for sellers, the expert opinion of a home inspector can be extremely valuable to both buyer and seller.

Internet savvy now crucial for vacation rental success
According to the National Association of Realtors, there are 7 million vacation homes in the United States, and 16 percent of them - 1.1 million - are offered as vacation rentals at least part of the year. If you're one of these homeowners and you're not getting as many bookings as you have in the past, the Internet could be the reason. That's because instead of poring over classified ads or browsing the glossy catalogs put out by rental agencies, people all over the world now search the Internet and use vacation-rental Web sites to look for properties.

South Asian Connection
Adea buys Netkraft; move made to beef up India office
DALLAS - Adea Solutions Inc. has acquired the Bangalore-based Netkraft Pvt. Ltd. in a cash-for-stock transaction.

Agriculture is a priority, CII tells Indian government
The Confederation of the Indian industry has urged the Indian government to continue its emphasis on improving agriculture, the rural economy, roads and railways and the country's power infrastructure in order to maintain high growth.

Alliance allots $50m for expansion of Indian operations
SANTA CLARA, Calif. - Alliance Semiconductor Corp. plans to invest an additional $50 million to expand its India operations over the next five years.

Dobi Medical signs Indian deal for breast cancer systems
MAHWAH, N.J. - Dobi Medical International Inc. has signed an agreement with United Telecoms Limited of Bangalore, India, for the marketing, sale and service of Dobi's Medical's ComfortScan system in India. United is a provider of telecom, networking, telemedicine and banking services.

Ericsson signs contract with Bharti Enterprises
NEW DELHI - Ericsson has been awarded a contract by Bharti Enterprises to supply an "intelligent network" service and prepaid system, the company said. The agreement covers all of Bharti's existing and soon to be launched mobile systems in India.

HCL named Microsoft global systems integrator
NEW DELHI - HCL Technologies Ltd., said that it has been named as the global systems integrator partner of Microsoft Corp.

Invention Machine partners with Neilsoft
BOSTON - Software company Invention Machine Corp., has entered into a partnership with Pune-based Neilsoft Ltd. Under the agreement, Neilsoft will be reselling Invention 's enterprise software "Goldfire Innovator."

Study: India's dairy industry should milk Chinese market
India, the largest producer of milk after the United States, can reap rich dividends by tapping the export potential for dairy products in the fast growing Chinese market, according to a study by the Confederation of the Indian Industry.

Survey: Services sector to grow
The Indian services sector is expected to continue its increasing growth, according to a recent survey by the Confederation of the Indian Industry.

Textile show weaves $22m in Indian deals
NEW YORK - The recent Indian textile trade show held in New York and Dallas drew about 70 Indian apparel makers and 250 U.S. buyers, resulting in about $22 million of on-the-spot deals.

Sports
Breakfast of champions: IMG plans $350m sports hub
BRANDENTON, Fla. - In a major deal that could change the face of non-cricket sports facilities in India, the Florida-based IMG Academies will pump in close to $350 million to build the country's largest sports academy in Hyderabad.

Technology
Credence acquires NPTest
SAN JOSE, Calif. - Credence Systems Corp. has acquired NPTest Holding Corp. in a combined cash and stock transaction.

Realization breaks the rules with management software
SAN JOSE, Calif. - Reducing work-in-progress, starting projects later, and adding time buffers to projects may sound like a sure to way to decrease efficiency. But for Realization Technologies Inc., they form the key ingredients of its project-management software.

Skyscape nabs innovator award, triples medical users
HUDSON, Mass. - Within weeks of receiving an award for its innovation, Skyscape Inc. announced that its number of users had hit the 300,000 mark, triple what it had less than two years ago.

Virtual Business
Don't let business go down in a landslide - be disaster ready
According to the Association of Records Managers and Administrators, about 60 percent of businesses that experience a major disaster, such as a fire, flood or power outage, close within two years. According to Labor Department Statistics, over 40 percent of all companies that experience a disaster never reopen and more than 25 percent of those that do reopen close within two years.









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