Cisco purchases NDS for $5bn

Thursday 15th March 2012, 5:24pm

TECHNOLOGY
KENDAL GAPINSKI

Cisco Systems has reached a $5bn (£3.2bn) deal today to buy British digital video firm NDS, currently owned by a private equity firm Permira and News Corp.

NDS offers technology used in BSkyB in its set-top box software, and would be one of Cisco’s biggest acquisitions. The purchase price of NDS was 35 per cent higher than its value when it was delisted from Nasdaq in 2009.

Cisco agreed to pay $5bn, including the assumption of debt and retention-based incentives, to acquire all of NDS, which has less than $1bn in total liabilities.

“NDS’s customer portfolio will broaden Cisco’s presence into new segments of the service provider market,” Marthin de Beer, Cisco’s senior vice president of video, said in a blog.

The boards of both Cisco and NDS have approved the acquisition, and the merger will likely close in the second half of the year. Cisco shares were down 1.5 per cent following the news.

http://www.cityam.com/latest-news/cisco-purchases-nds-5bn

FTSE 100 slips after oil prices drop

Thursday 15th March 2012, 6:18pm

MARKET
KENDAL GAPINSKI

Britain’s leading share index slipped on Thursday, weighed down by weakness in heavyweight energy stocks after recent gains, with investors also looking ahead to futures and option expiries.

At the close, the FTSE 100 index was down 4.71 points, or 0.1 per cent.

BP shares dropped 1.26 per cent, while Cairn Energy shares fell 1.46 per cent, ending at a price of £331.40.

Shire was the top blue chip faller, down 3.14 per cent as the drugmaker bought US biotech firm FerroKin BioSciences in hopes of expanding its position as a specialist drug supplier.

Meanwhile, Lloyds Banking Group shares rose 2.82 per cent, after an announcement yesterday to sell off £1bn of distressed loans made to Australian residential property developers.

http://www.cityam.com/latest-news/ftse-100-slips-after-oil-prices-drop

Williams team reports earnings rise

Friday 9th March 2012, 12:11pm

BUSINESS OF SPORT
Kendal Gapinski

Motor-racing company, remains in good shape financially with a strong increase in turnover and net profit despite the team’s worst season on the track in Formula One.

Chairman Adam Parr said the former champions are financially stable and hoping to perform better in races as well, even without a title sponsor after the departure of American telecommunications giant AT&T last year.

The group’s net profit increased 30 per cent to £7.8m while Williams Grand Prix Holdings also reported a 14.8 per cent increase in turnover to £104.5m. According to Parr, Williams held net cash of £29.2m as of 29 February.

New business developments in Williams Hybrid Power, Williams Advanced Engineering, and the Williams Technology Centre in Qatar were all “delivering promising results.”

“It’s a very healthy set of results under the circumstances, meaning the general economic climate and given that aspects of our performance were not satisfactory,” Parr said.

“I am very satisfied with what we have done overall with the business.”

http://www.cityam.com/latest-news/williams-team-reports-earnings-rise

City Moves – Who’s Switching Jobs

Thursday 8th March 2012, 12:35am

Kendal Gapinski

INREV
The non-profit association yesterday announced Patrick Kanters as chairman at its AGM. Kanters has previous experience as a global investor, formerly working at ING Real Estate. Kanters is also a member of the Executive Board of EPRA and sits on the board of investing firm Steen & Strom. In his new position, he will help develop industry standards for the non-listed real estate vehicles sector, such as developing global standardisation and promoting inter-regional research programmes.

Mecom Group
The consumer publishing company has appointed Torben Lundberg as chief information officer. Lundberg has been working for Mecom since 2008 and has over 15 years of experience in the media industry. In his new role, Lundberg will focus on creating group-wide IT solutions. Mecom has also appointed Mark Leimann as group director of its Sweetdeal brand. Leimann has been at Mecom since 2006. He will be responsible for the development of international consumer sales products.

WH Ireland
The wealth management and corporate finance services group has announced that Andrew Kitchingman will be joining the group as a director in corporate finance. Analysts Nick Spoliar and Angus McPhail have also joined the company. Kitchingman and Spoliar both worked previously at Arbuthnot Securities, while McPhail has moved to WH Ireland from Investec. The three combined have more than 50 years of experience in working on corporate transactions.

Grant Thornton
The financial consulting firm has hired Simon Bevan as partner in the firm’s London audit practice. Bevan spent 30 years at BDO and left the firm last summer to take a nine-month sabbatical, which he spent in China working as a visiting professor at Xiamen University. Bevan’s main focus will be to develop the firm’s privately held audit practice.

Old Mutual Asset Management
The investing firm has appointed Olivier Lebleu as head of non-US distribution for Old Mutual Asset Management International. Prior to joining the organisation, Lebleu was a partner and a member of the investment advisory committee at Stenham (Montier & Partners). Lebleu will be based in London and help to contribute to the firm’s global expansion efforts.

Newedge
The multi-asset brokerage has named Marc Lorin as deputy head of origination and structuring for the Americas, James Shekerdemian as head of origination and structuring for Europe, the Middle East and Africa (EMEA) and Charles Hill as his deputy at the alternative investment solutions (AIS) division of its prime clearing services team.

http://www.cityam.com/latest-news/city-moves/city-moves-who-s-switching-jobs-47

City Views

While working at City AM in London, I was in charge of man-on-the-street interviews about topics trending in London. I did many of them, and here are a few.

If interested in seeing all of my City AM work (or you want to see just how many City Views segments I did) feel free to visit the website.

CITY VIEWS: WHY IS JOHN LEWIS BEATING THE HIGH STREET?

Thursday 8th March 2012, 12:55am
Kendal Gapinski

ANMOL CHIBBER | DZ BANK

“It attracts the higher end of the market. The rich are getting richer while the poor are getting poorer. It is also known for its quality, service, and matching prices.”

MICHAELA MORAN | BANK OF AMERICA

“People know what they are buying at John Lewis. It’s reliable. You know you can purchase something and have no issues. It’s also convenient – you don’t want to trawl the high street.”

SOPHIE MUNARETTO | SMBC

“It is targeting a different kind of customer. It has been renewing its stores and the investment is paying off. The stores also have a very diverse product range”

 

CITY VIEWS WHO WILL WIN THE MAYORAL ELECTIONS?

Thursday 5th April 2012, 12:53am
Kendal Gapinski and Joe Softley

DALE CROSS
BUSINESS SYSTEMS

Boris Johnson will probably win. I think he has more of a persona than Ken Livingstone. Everyone seems to like Boris. I think he appeals more to a younger generation.

ANDREW SELLERS
HISCOX

Boris Johnson should win. The entire thing on LBC radio was such a disaster for Livingstone. His fare deal plan is rubbish. How are we going to pay for that when we don’t have any money?

MATT BENTON
MONEY ADVICE TRUST

I think Boris brands himself more and will probably stay in the office. Personally though, I think Boris has been mayor for a long time already, and is too much of a comedian for my taste.

CITY VIEWS: WHAT ARE YOUR FIRST IMPRESSIONS OF THE CHANCELLOR’S BUDGET?*

Thursday 22nd March 2012, 1:34am
Kendal Gapinski

AMI RICHARDS | FIDELITY
“It seems that, overall, the Budget looks like a good thing. The personal allowance increase was needed. People are struggling to survive because things are so hard, so the more-than £1,000 increase should hopefully help.”

COLIN HALL | GRESHAM COMPUTING
“I’m happy the Budget didn’t mess too badly with childcare. The tax increases, while not good right now, look good for next year. It was also a good idea not to raise duty on alcohol because pubs could use the extra help.”

JOHN NEWLANDS | CITYONE SECURITIES
“This Budget gives an openness for an entrepreneurial economy, which is important for employment and growth. Of course, as a professional smoker and drinker, we got clubbed again by the price rise on a pack of cigarettes.”

Dooligus is truly child’s play for this Lititz boy band

By KENDAL GAPINSKI
Correspondent

The Laserdome stage dims, as flashing lights in red, blue, orange and yellow begin to brighten the room. Five boys are armed and ready with instruments as the opening notes from The Who’s “My Generation” echo off the spherical walls.

Like a seasoned pro, Bailey Norman holds the microphone with two hands while singing, ” … I hope I die before I get old … “

If that’s the case, these boys have quite a while to go.

Dooligus, a Lititz band that’s creating a buzz, makes the Jonas Brothers look old.

These boys are young — really young.

Dooligus, comprised of Bailey on lead vocals, Joey Dougherty on lead guitar, Josh Kintzer on drums, Conner Mohler on bass guitar and J.J. Vulopas on keyboard, isn’t just another angry teenage band. In fact, two members aren’t even teenagers yet. They range in age from 11 to 14 years old and are in elementary and middle school.

“As the youngest member, it’s really cool to be a part of this,” says J.J., a sixth-grader at John Beck Elementary. “The older ones always have my back.”

The boys’ ages may be why people who stumble upon them playing have similar reactions.

“Every time they play, customers come in and say, ‘How old are those kids?’ ” says Dan Furlow, who owns Freeze & Frizz, where the band has played twice in the parking lot, during Second Fridays in Lititz. “The kids are unbelievable. They have so much talent for being so little.”

The boys also know how to play the crowds.

“They definitely bring energy to the crowd,” says Gary Parsons, whose Creations Café, in Lititz, has hosted the band three times. “Joey Dougherty is absolutely amazing on guitar.”

Joey, 14, Bailey, 13, and Josh, 14, are the founding members of Dooligus. After seeing his father Joe’s work in the music industry, as a live sound-system concert engineer for Clair Bros., Joey picked up the guitar.

“They possess a powerful and special gift, and it should be treated with love and respect,” says Joe Dougherty, who is currently working at Caesars Palace, Las Vegas, with Bette Midler and Cher. “They treat themselves and everybody they meet with that same love and respect, and it shows.”

Although the boys rock out on stage, they aren’t your typical rock stars. All of the guys keep a busy schedule with extracurricular activities. A typical night can include a run-through of Ozzy Osbourne’s “Crazy Train,” followed by a campfire with the Boy Scouts or math homework.

“I run track and cross country outside of the band,” says Josh, an eighth-grader at Warwick Middle School. “I also take drum lessons.”

The name “Dooligus” originated from a dream Joey’s mother had one night. She ran the name by the boys, and they went with it.

Dooligus’ music focuses mainly on classic rock. The boys cite their biggest influences as the people who surround them — parents, friends, music teachers and local bands, like Cinder Hill — but they are also influenced by such acts as Led Zeppelin, Rush and The Who.

Through his father’s connections, Joey has met some of these rock legends, who serve as his biggest inspiration.

“My biggest influences are probably Jimmy Page (of Led Zeppelin) and Ritchie Blackmore (of Deep Purple), because they wrote the most influential songs of rock,” he says.

Adds Bailey: “I had heard The Beatles singing ‘She Loves You,’ and I was moved deep inside, because up till then, I had only been listening to current pop tunes on the radio.”

Dooligus is not about just singing and playing music. Band members are also writing lyrics and composing songs. Their first song is called “Figments,” and they currently have a handful of others under production.

Being so young, the boys have many opportunities ahead of them.

“My hope for them is that they continue to keep the personal bond that they possess as friends,” says the elder Dougherty. “These boys are good — really good. … If this was organized sports, you would already know their names.”

While some members hope to attend medical school, become writers or continue their aspiring music careers, the boys understand the possibilities the future holds — once they graduate middle and elementary school.

“Goals? I’m only 11,” J.J. says. “I do know that I want to fully use my talents, make a difference in this world and have lots of fun.”

Read more: http://lancasteronline.com/article/local/236958_Dooligus-is-truly-child-s-play-for-this-Lititz-boy-band.html#ixzz2GqHq0DGh