Washington – Federal raiders. Internet pirates. Intergalactic screen adventures.
The government announced a crackdown Wednesday on the theft of movies and other copyright materials that has the elements of a film plot.
Federal agents shut down a website that they said allowed people to download the new “Star Wars” movie even before it was shown in theaters.
The Elite Torrents site was engaging in high-tech piracy by letting members download copies of movies and other copyrighted material for free, authorities said.
Authorities served search warrants in 10 cities, including Philadelphia and Chicago, against computer users accused of being the first to offer copyright materials to other BitTorrent users on the site, Justice Department and Homeland Security officials said.
Elite Torrents had more than 133,000 members and offered 17,800 movies and software programs in the past four months, officials said. Among those titles was “Star Wars: Episode III – Revenge of the Sith,” which was made available six hours before its first showing in theaters, the officials said.
The movie was downloaded more than 10,000 times in the first 24 hours.
DENVER
Qwest, AT&T settle dispute on eve of trial
Qwest and AT&T settled a dispute over charges for toll-free calls Tuesday on the eve of a trial in U.S. District Court in Denver. Terms were not disclosed.
Qwest sued AT&T in 2003, claiming AT&T owed it as much as $60 million in undercharges for routing toll-free calls through its network for the long-distance carrier. Qwest had estimated that AT&T underpaid it $15 million to $20 million a year from January 2000 to September 2003.
WASHINGTON
Tighter reins sought on Fannie, Freddie
U.S. Treasury Secretary John Snow called on lawmakers to strengthen legislation approved by a congressional panel Wed nesday that would create a stricter federal regulator for Fannie Mae and Freddie Mac.
The House Financial Services Committee voted 65-5 to create an overseer with power to cut the companies’ combined $1.5 trillion loan portfolios, reject new lines of business, alter capital standards and sell off assets in the event of default.
BROOMFIELD
Ball Corp. to close small plant in Quebec
Ball Corp. plans to close a small manufacturing plant near Montreal, eliminating about 70 jobs, as it works to curb costs.
The company said Wednesday it will take a $6 million after-tax charge in the second quarter related to the closure of the plant in Baie d’Urfe.
Demand is diminishing for three-piece metal food cans that are manufactured at the plant.
BOULDER
Adult-entertainment firm’s earnings drop
Boulder-based New Frontier Media Inc., which operates adult-entertainment cable channels, Wednesday gave a conservative outlook for the current fiscal year and reported a drop in earnings for its latest quarter.
The company said it expects revenue for the current fiscal year, which ends in March, in the range of $44.5 million to $46 million and earnings of 37 cents to 41 cents a share. Analysts were expecting fiscal 2006 earnings of 52 cents a share, according to Thomson Financial.
New Frontier on Wednesday said it earned $2.4 million, or 10 cents a share, on revenue of $10.8 million in the fiscal fourth quarter ended March 31.
DENVER
TransMontaigne nets $71.7 million in IPO
TransMontaigne Partners LP shares rose $3.40, or 16 percent, to $24.80 and traded as high as $25.60 on their first trading day.
The company, which sells supply-chain services for refined petroleum products, raised $71.7 million in an initial public offering Wednesday.
LONGMONT
$32 million infuses InPhase data storage
InPhase Technologies, a Longmont data storage company, said Wednesday it received $32 million in venture capital financing.
“The financing puts us in a strong financial position to fund the company through profitability,” president and chief executive Nelson Diaz said. “This third round is expected to be our last round.”
The company is working to develop and commercialize media using holographic technology that can store up to 60 DVD- quality movies on a single disc.
DETROIT
Ford comes to aid of struggling Visteon
Auto supplier Visteon Corp., which has struggled to make a profit since it was spun off from Ford Motor Co. five years ago, said Wednesday that Ford would take back 24 ailing plants and pay $550 million in restructuring costs as part of a deal that could eventually save the automaker millions on parts.
Ford said it will manage 20 plants in the United States and four in Mexico through a temporary business entity.
DENVER
SBA plans hearing on size standards
The Small Business Administration will hold a public hearing in Denver and 10 other U.S. cities next month to gather input from small-business owners on how to improve the agency’s size-standards regulations, which are used to define the size of small businesses.
The hearings will allow small- business owners to provide input to help the SBA simplify and restructure its size standards and make the regulations easier to understand and use.
The hearing will be June 14 at the Federal Building, 1961 Stout St., Room 239.
NEW YORK
Prosecutor: Pair used Tyco as money source
L. Dennis Kozlowski and Mark Swartz treated Tyco International Ltd. as their personal source of art, real estate and tens of millions of dollars in unjustified compensation, a prosecutor said Wednesday at the closing of the former executives’ second trial.
The former chief executive and the former chief financial officer took more than $120 million without the company’s knowledge, prosecutor Owen Heimer said.
PEOPLE
Architect honored; school names dean
The Colorado Chapter of the American Institute of Architects selected Collin Kemberlin, senior associate at David Owen Tryba Architects, as 2005 Young Architect of the Year. … Former Blockbuster Entertainment Corp. president Joseph Baczko was named dean of Pace University’s Lubin School of Business in New York.
