Good test results for new arthritis drug from Ann Arbor's Velcura
Ann Arbor-based Velcura Therapeutics Inc. today plans to announce the successful completion of its first human clinical trial for a compound called VEL-0230 being studied as a treatment for rheumatoid arthritis and other bone diseases. As for the results, Velcura CEO Michael W. Long said that while final tabulations are still under way, "We're pretty pumped up about it." In the study, conducted in Tacoma, Wash. Long said the drug proved to be well tolerated by its 30 test subjects. The lone adverse event was one case of dizziness, Long said. And the drug also proved powerfully effective. In studies of a biomarker for bone loss, even the smallest dose administered knocked down that biomarker by 80 percent. "And this stuff works amazingly fast," Long said. "We got our first indication within 15 minutes." More.
Spartan Chassis gets $56.4 million order for military vehicles
Charlotte-based Spartan Chassis Inc., a subsidiary of Spartan Motors Inc., said Friday it had been awarded a subcontract order from defense contractor BAE Systems worth approximately $56.4 million to support the production of advanced tactical vehicles under the Mine Resistant Ambush Protected, or MRAP, program. More.
Plug-in hybrid pilot biggest grant among $6.5 million from MPSC
The Michigan Public Service Commission last week issued an order approving nearly $6.5 million in Michigan energy efficiency grants for all customer classes to 14 organizations. Back on March 21, the MPSC issued a request for proposals for Michigan energy efficiency grants for all customer classes with three distinct focuses: plug-in hybrid electric vehicle pilot programs; compact fluorescent lamp programs; and green community programs. The biggest grant: $5 million for a plug-in hybrid vehicle study to be conducted by the University of Michigan, DTE Energy and General Motors Corp. More.
Blues Web site adds Medicare info
Beginning this summer, Michigan physicians and hospitals will be able to go online to check eligibility and benefit information for people with Traditional Medicare coverage. It's made possible by Blue Cross Blue Shield of Michigan's health care electronic data interchange clearinghouse and Web portal, one of the largest in the nation. Through BCBSM's single Web portal -- called web-DENIS -- doctors and hospitals already have secure access to benefit and eligibility information for individuals enrolled in BCBSM, Blue Care Network and Medicaid plans. The addition of Traditional Medicare information is another leap forward. More.
Somanetics to buy back $15 million more in stock The Troy medical device maker Somanetics Corp. said Friday that its board has authorized another $15 million share repurchase. The repurchase comes on top of an already authorized $15 million. The company said it would make purchases on the open market or in privately negotiated deals at its discretion. From April 3, the date its initial share repurchase program started, through Thursday, May 8, the company reported it had spent about $12.6 million to buy back 787,061 of its shares at an average price of $15.97 per share. As of May 8, Somanetics had 12,856,392 shares outstanding. More.
WWJ biz breakfast highlights insanely busy tech event week
It's just ridiculously busy all week, OK? We'll leave it at that when we talk about this week on the GLITR IT Calendar, the state's most comprehensive events calendar, found here.
Let's start with Monday, which features guest lectures at the Michigan Molecular Institute, grant-writing tips from Biotechnology Business Consultants, a showcase of tech successes from the Mid-Michigan Innovation Team, a rare peek at General Motors' Heritage Center thanks to the Engineering Society of Detroit, and the regular meeting of the Ann Arbor Rich Internet Club.
That's only Monday!
The rest of the week is equally nuts, with the annual meeting of the Transportation Society of Michigan, a big symposium on online auto marketing, a Sharepoint User Group meeting, a Michigan State University Land Policy Institute meeting, a World Trade Week event on Brazil, an inside peek at GM's Web strategies, a Grand Rapids event on sustainability, a big ConnecTech Expo in Port Huron, a fun elevator pitch contest at the Ann Arbor New Enterprise Forum, and a big Oakland University conference on Michigan's economic transformation.
And as there seemingly is almost every week, there's a really cool WWJ Newsradio 950 event on the future of transportation of Michigan. (Sign up here. There are two terrific panels, one on moving freight, another on moving people.)
Note: For information on how you can sponsor content in the Blue Box, contact Dan Keelan at (248) 455-7380 or dkeelan@cbs.com.
New Web sites for IT staffing, recruiting firm, Automation Alley
A Troy recruiting and staffing firm called Resource, The Smart Workforce Company, Friday announced the launch of its new Web site, www.smartworkforce.com, featuring the introduction of its new managed services division. More. Also, Automation Alley, Michigan’s largest technology association, last week announced the launch of a newly redesigned Web site, www.automationalley.com. Designed and developed by Plante & Moran, the site incorporates Automation Alley’s updated brand identity and offers a new, simplified design with improved navigation and quick links to the organization’s most popular benefits. More.
New UM research shows cherries fight inflammation The Cherry Marketing Institute last week pointed to a new study by University of Michigan researchers showing a cherry-enriched diet reduced inflammation markers in animals by up to 50 percent. Scientists believe it's the anthocyanins -- also responsible for cherries' vibrant red color -- that are responsible for this anti-inflammatory benefit. Other studies indicate that anthocyanins may be beneficial for a range of inflammatory-related conditions, including arthritis. Studies also suggest antioxidant-rich foods, like cherries, may help reduce levels of nitric oxide, a compound associated with osteoarthritis and rheumatoid arthritis. More.
New Kuka robot is a real 'Titan' Clinton Township-based Kuka Robotics Corp. is unveiling the Kuka 1000 Titan to the North American market at the upcoming Cast Expo 2008 from May 17-20 in Atlanta, Ga. The Kuka KR 1000 Titan is the company's latest product and with its heavyweight capabilities has earned an entry in the Guinness Book of Records. The KR 1000 Titan is the world's first industrial robot that can lift a payload of 1,000 (2,200 pounds) with a reach of 4,000 mm (13.1 feet). More.
EBay's PayPal rule draws fire in Australia EBay Inc. is exploring whether to require customers to use its online payment service PayPal, a move that has angered users and prompted antitrust scrutiny in Australia, where a PayPal-only rule takes effect next month. It's unclear whether eBay will institute a similar policy in the United States and other countries. However, the online auction company often tries big changes in smaller markets before expanding them worldwide, and says it is open to that in this case. More.
Apple agrees to settle iPod lawsuit
Apple Inc. has agreed to settle a pair of class-action lawsuits in Canada alleging it misled customers about the staying power of their iPods, the latest courtroom truce over the dwindling battery life of early generations of the device. According to a court document, the Cupertino-based company is offering credits for its online store of about $44.75 to people who live in Canada and bought certain iPods there on or before June 24, 2004. To be eligible, the battery life of their iPods -- while continuously playing music -- needs to have dropped to five hours or less for the first and second generation of the device and four hours or less for the third generation. The lead plaintiffs in the lawsuits -- iPod owners Ines Lenzi and Bradley Waddell -- claimed Apple misrepresented iPods' battery life by claiming they were capable of eight to 10 hours of continual music playback. After recharging, however, the iPods' battery life began declining. More.
Microsoft appeals $1.4 billion European Union antitrust fine Microsoft Corp. on Friday said it has appealed a $1.39 billion fine imposed in February by the European Commission for the company's failure to comply with a 2004 antitrust order. Spokesman Jack Evans said Microsoft filed an application with the Court of First Instance in Luxembourg to annul the Commission's decision. "We are filing this appeal in a constructive effort to seek clarity from the court," Evans said in an e-mailed statement. He declined to elaborate. The fine had marked the tentative end to a long-running fight between the European Union and Microsoft, triggered by a 1998 complaint by Sun Microsystems Inc. Sun alleged Microsoft was refusing to supply all the information servers need to work with its market-dominating Windows operating system. More.
Advocacy groups target Google-Yahoo linkup
An online advertising partnership between Yahoo Inc. and Google Inc. is facing opposition from consumer and civic groups that didn't wait for an official deal announcement to voice their discontent. Top Google executives said Thursday they are interested in a partnership with their closest rival but didn't indicate how close they were to an agreement. A coalition of 16 civil rights and rural advocacy groups, including the Black Leadership Forum and the League of Rural Voters, on Friday urged federal regulators to investigate the potential combination. The Black Leadership Forum is an umbrella group of 36 civil rights organizations, including the NAACP and the National Urban League. The groups argued in a letter to Assistant Attorney General Thomas Barnett, head of the Justice Department's antitrust division, that the deal would give Google almost 90 percent of the search advertising market and strengthen its influence over Internet users' access to information. More.
Stocks: Techs mixed among broader market slide Technology stocks turned in a mixed performance Friday as the sector felt the impact of broader market declines tied to the insurance and financial industries. The tech-heavy Nasdaq Composite Index (COMP) fell 5.72 points or 0.2 percent to close at 2,445.52, while the Philadelphia Semiconductor Index ($SOX) fell 1.26 points or 0.3 percent to 398.5, and the Morgan Stanley High Tech 35 Index (MSH) fell 2.03 points or 0.3 percent to 584.03. The Amex Pharmaceutical Index ($DRG) fell 3.92 points or 1.3 percent to 296.2, while the Amex Biotech Index (BTK) rose 0.41 points or 0.1 percent to 748.11. With financial stocks leading the declines, the Dow Jones Industrial Average ($INDU) fell 120.9 points or 0.9 percent to 12,745.88. The S&P 500 ($SPX) fell 9.4 points or 0.7 percent to 1,388.28.
All contents copyright 2008 CBS Radio Inc. and its relevant subsidiaries. CBS Radio & Eye logo trademarked and copyright 2008 CBS Broadcasting Inc. Used under license. All Rights Reserved. Written and edited by Matt Roush, Technology Editor, WWJ Newsradio 950, Detroit. GLITR contains material from the Associated Press, Reuters and MarketWatch.com, used by permission. For coverage comments or news tips, e-mail Matt Roush at mnroush@cbs.com or call (248) 455-7380. For marketing and advertising queries, contact Dan Keelan at dkeelan@cbs.com or (248) 455-7252. To subscribe, e-mail Nancy Ho at nancy.ho@cbsradio.com. For questions or concerns, please email Pete Kowalski, WWJ's Station Manager.
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EBay Inc. is exploring whether to require customers to use its online payment service PayPal, a move that has angered users and prompted antitrust scrutiny in Australia, where a PayPal-only rule takes effect next month. It's unclear whether eBay will institute a similar policy in the United States and other countries. However, the online auction company often tries big changes in smaller markets before expanding them worldwide, and says it is open to that in this case. 
