Silicon Valley Bank still prefers VCs to real estate - San Francisco Business Times:

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The $13.25 million construction bond forthe 113-unit projecft also represents the bank's primary foray into real estate finance, undertaken to satisfy requirementss under the Community Reinvestment Act. Apart from holding a handful of mortgageas for a few verywealthg clients, the bank staya away from real estate -- which in turn marke it out from most banks, where such lendin g is a central part of theier loan portfolios. Instead, Silicon Valleyh Bank prefers an area that makes othefrbankers nervous: venture firms and the high-growth companiees they back.
"I've always thought it'w smart to stick with what you do saidKen Wilcox, CEO of the bank that'e marking its 25th anniversary this year. Wilcoxs says the venture industry is but he dismisses industry chattef that the venture capital model is In fact, he sees a brighty future for the businesz given the pace of innovation and new idease that need the financing, peoplde and skills that venture capitalists brint to the table. Venturre capitalists embracing global ambitions and accommodating the increasede flow of capital from institutional investoras will spurfurther change.
"The interest by venturee capitalists in capital intensive industrieds such as life sciencess and clean technologies will likely drive fund sizes upwardsz for theforeseeable future," said Mark Heesen, president of the . "Therr is no shortage of opportunities, nor is there a shortage of institutional investors interested in the venture capitalkasset class." But the volumd of money flowing into venture capital is changing the way the industr y operates. Wilcox anticipates more venture firms will follow in taking space inSan Francisco, the region's traditiona financial center.
Even the ventured industry's staffing levels and professional developmenare changing, with much larger teamss required to invest the bigger sums. The industry, as Wilcoxs sees it, is shifting from an apprenticeshi model, in which a seniod professional trainsan up-and-comer, to one in whichg investment professionals move up the "Venture capital firms are looking more like banks," said who is also CEO of the Silicohn Valley Bank's holding company, . Silicon Valley Bank also sees the industrgy actingmore globally. The bank recently told analysts that itexpectsz U.S.
venture capitalists to shift from having 90 percent of their money invested in the United Statese to just a third investedd in the United States in 10 A decadefrom now, the bank sees China capturing 25 percentf of U.S. venture capital dollars in a with India receiving 21 percenf and Europe13 percent. Silicon Valleg moved abroad in recent yeards to pursue that The bank now operates five officesz internationally in addition to the 27 offices it has in tech centerss across theUnited States.
As with the rest of the the Federal Reserve's aggressive movesw to cut interest rates in recent monthsz has pressuredthe bank's net interest margin, or the differenc e in interest it pays on deposits and what it earnzs on loans. The bank's first-quarter net interest marginn fellto 6.36 percent from 7.04 in last year'sz fourth quarter. Joe Morford, an analys with in San Francisco, anticipatess the bank's net interest margin will ultimately settle inthe 5.25 percentg to 5.5 percent range.
Silicon Valley Bank'a margin gets a boos from the large numberof venture-backed clients who keep substantiakl deposits in checking accounts that bear no interest as they slowlhy put venture dollars to work. Unlik many banks this year, Morford said SVB Financiakl Group beatWall Street's expectations and had no serioue credit problems in the first He credits strong loan growt and fee income trendsx coupled with tight expense controls. The company repurchasedr 3 percent ofits stock, or almosyt 1 million shares, in the firsf quarter, but Morford sees the pace of repurchase slowing as the company devotes more capitapl to growth.
RBC Capital Markets has provided non-investmen banking services to SVB over the past12

Martin commission sets guidelines to ensure truth on board applications - TCPalm

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Martin commission sets guidelines to ensure truth on board applications TCPalm STUART â€" The 200 people per year who apply to serve on Martin County's advisory boards and committees will have to swear to the truthfulness of their applications, the County Commission decided Tuesday. Lying on an application could ... and more »

Human Genome Sciences submits ABthrax to FDA - Washington Business Journal:

http://biomarck.com/intellectual-property.htm
On Thursday, Human Genome Sciences (NASDAQ: HGSI) announcede it had submitted a Biologics License Application to the FDA for its humajn monoclonal antibodydrug ABthrax, also known as for the treatment of inhalation anthrax. Human Genom e Sciences said the submission showed a survival benefit in studiexs of rabbits and monkeys and the result of safety studies conducted in healthhuman volunteers. “Based on the resultsz of our efficacy and safety we believe raxibacumab has the potential to be an importanyt new treatment for inhalation said Human Genome Sciences Senior Vice President Sally The U.S. government has already reachedthat conclusion.
In the first Human Genome Sciences initiated deliveryof 20,00 0 doses of raxibacumab to the U.S. Strategic National Stockpile for emergency use in the treatment of inhalation anthrax, generating $127.8 million in producty sales. Raxibacumab was developed under a contractr entered into in 2006 with the Biomedical Advancecd Research and Development Authority of the Office of the Assistant Secretarhy for Preparedness and Response ofthe U.S. Departmenyt of Health and Human Services. Raxibacumab is the firstf product that Human Genome Sciences has submitted for a BiologicxsLicense Application.
If it would mean a $10 million milestone paymentg for Human Genome Sciences under terme of theHHS contract.

AMA Tampa Bay adds online video to offerings - Tampa Bay Business Journal:

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AMA Tampa Bay TV, as the platform is was a projectof , of Tampa and in Ybor It makes the locall AMA chapter is one of the few in the nationj to offer such a platform to its according to a release. “Wde were immediately intrigued with the idea of becominf involved in this new mediq projectas we’re seeing online video grow at a steady pace in our own and recognize its increasing importance,” said Heidi Kempf, vice presideny of business development at Ren Scott, in a Endavo Media is providing the backbone for the televisio platform through a branded video player with interactive features.
The platformk also offers way to monetize online videowith sponsorships, subscriptions and other options. The platform was unveilede Fridayduring AMA’s monthly luncheon and featured video interview s with past program speakers and highlights from the chapter’s recen digital marketing conference. AMA Tampa Bay has nearly 400 memberx and is consideredthe fastest-growing chapter in the country.

Shuttle Program Nears End, Final Flight Friday - KSAT San Antonio

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Telegraph.co.uk

Shuttle Program Nears End, Final Flight Friday KSAT San Antonio SAN ANTONIO -- The countdown has begun for NASA's space shuttle program, which will launch its final flight on Friday, barring a weather delay. It is an end of an era for the program that will have a lasting impact on history and on San Antonio ... Poor forecast for Friday shuttle launch MyFox Tampa Bay Final Space Shuttle launch Friday Pajamas Media Final Space Shuttle mission: If you're in Florida on Friday and Mickey c »

Crist signs bill to battle securities fraud - Business First of Columbus:

http://invest-ment.com/dolgo.html
During a ceremonial bill signinv Monday atthe Miami-Dade County Courthouse, with Attorney General Bill McCollum and some of the bill’as sponsors at his side, signed the Investor Protection Act (HB It gives McCollum’s office, with approval from the , the authoritu to investigate and prosecute large-scal e securities scams under the state’s securities law. white-collar criminal prosecutions fell under theracketeering statute, which is hardedr to prove. Prosecutions also were limited to the office ofthe state’ss attorney, McCollum pointed out.
Crisrt noted that this kind of authorit y was lacking during his tenure as attorney general and that this law woulfdput “teeth” into the state’s prosecutorial The law enhances the Office of Financiall Regulation’s enforcement powers by increasing penalties for violatore and strengthening the license registration requirementzs for securities dealers. Penaltiese double from $5,000 to $10,00o0 as a result of the law, whicb goes into effect Wednesday. State authorities will also be able to pursuw civil lawsuits to recove rlost money, McCollum said. McCollukm worked with Rep. Tom Grady, R-Naplezs and Sen. Garrett Richter, R-Naples on the Both attended the signing. Sen.
Dan Gelber, D-Miami a bill sponsor, also attended Monday’sw ceremony. Grady is a securities attorney and experr in securities regulation who drafted the bill and sponsores it inthe House. “Now the attorneyt general will have the tools to do the said Grady, prior to the signing. “Oudr economy will grow stronger if investors have confidence in ourfinancia markets,” he said in a statement.
“Byt increasing the tools available to the state to prosecut violators of oursecurities laws, we protectg investors and foster needed trust in the

US Mint releases 2011 American Eagle Silver proof coins - Mineweb

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CoinNews.net (press release)

US Mint releases 2011 American Eagle Silver proof coins Mineweb The US Mint fin »