The News Review:
- Fantasy investment application FSX getting real
- The Auto Bailout: Too Risky an Investment
- Ontario Government Investment Supports R&D Expansion at Purdue …
- RWE ups investment focus on gas renewables
- ATV Promotes Three Members of Its Investment Team Strengthens …
Fantasy investment application FSX getting real
San Francisco Chronicle USA
tmpl –> He had been looking at reports from his mother’s mutual fund and thought he could do better than the professionals. His application called FSX built a following on Facebook and later on MySpace and has been used to create more than 350000 fantasy investment portfolios. Recently however FSX’s users discovered that FSX is about more than just fantasy. Today Carroll and his colleagues will announce that the software has been renamed and is the basis for a startup KaChing backed by some of Silicon Valley’s most prominent investors – Benchmark Capital partner Andy Rachleff Netscape founder Marc Andreessen and former PayPal President Jeff Jordan along with Kleiner Perkins Caufield and Byers and HRJ Capital in Silicon Valley. The virtual investing will continue at KaChing and will be free but by mid-2009 investors on the site with yearlong track records acceptable to KaChing will be able to collect commissions investing real money belonging to others. The commissions will be shared with KaChing which is now registered as an investment adviser with the Securities and Exchange Commission.
The Auto Bailout: Too Risky an Investment
FOXNews
What is forgotten is how much wealthier a country can be if people are producing products that consumers value and that they are being produced as efficiently as possible. Here is one question to ask Bush Obama and Democratic members of Congress who overwhelmingly support the bailout: how much of their own money are they investing in buying General Motors’ bonds? Presumably the answer is: nothing. It is just too risky an investment.
Related from Champcarnews: Wall Street tumbles as auto bailout stalls in Senate
Ontario Government Investment Supports R&D Expansion at Purdue …
MarketWatch
15 2008 TORONTO Dec 15 2008 (BUSINESS WIRE) –Purdue Pharma Canada known for pioneering research on persistent pain and associated treatments will be hiring 53 people to work in research development and advanced manufacturing with the expansion of its operations in Pickering Ontario. Purdue Pharma Canada intends to break ground on the $32 million expansion in January 2009. The investment will double the company’s R&D capacity in Ontario. The province is investing $4. 9 million through its Biopharmaceutical Investment Program part of the government’s Next Generation of Jobs Fund. Overall Ontario is investing $3-billion in its Innovation Agenda. “This investment makes the most of the talent creativity and hard work of our people.
RWE ups investment focus on gas renewables
Reuters
The power provider based in northern-Germany plans to invest70 billion to 80 billion euros ($96 billion-109 billion) in thenext ten years said Leonhard Birnbaum management board memberresponsible for strategy. That compares to some 30 billion eurosthe company is investing in five years through 2012. “We are determined to use the current crisis as anopportunity” Birnbaum said on Monday evening in remarks forrelease on Tuesday. “Growth will be mostly outside Germany as the growthmarkets are outside Germany” he said.
ATV Promotes Three Members of Its Investment Team Strengthens …
MarketWatch
Dec 16 2008 (BUSINESS WIRE) –ATV (Advanced Technology Ventures) a bi-coastal venture capital firm investing in emerging companies in the IT healthcare and cleantech sectors today announced the promotion of three members of its investment team. Tom Rodgers has been named Partner and Christian Cortis and Andrew Friendly have been named Principals. “These promotions together with an increased strategic focus on our core technology markets strengthen our ability to help companies bring innovative technologies to market” said Bill Wiberg ATV General Partner. “Tom Christian and Andrew are exceptional VCs and highly regarded in their respective entrepreneurial communities. They add tremendous value to our investment team and our portfolio companies.