SEC argues for Qwest exec’s trial to go on
Government attorneys asked a judge Thursday to reject a former Qwest finance chief’s motion to dismiss a fraud lawsuit against her, saying the complaint provided sufficient details for the case to proceed.
Attorneys representing the Securities and Exchange Commission said the lawsuit lists dates and places of Robin Szeliga’s actions as well as statements she made.
The document filed in U.S. District Court was in response to a motion filed by Szeliga’s attorneys asking a judge to order the SEC to provide details about the allegations or dismiss the case.
RockResorts won’t run Fla. lodge and spa
Denver-based RockResorts, the luxury hotel subsidiary of Vail Resorts, announced Thursday it will no longer manage the Cheeca Lodge & Spa in Islamorada, Fla.
The hotel’s ownership, Cheeca Holdings LLC, terminated the management contract effective this past Monday without advance notice, in violation of the contract, according to RockResorts, which said it planned “to pursue its legal rights.” The hotel did not return calls for comment.
Execs predict strong IT hiring for quarter
Chief information officers in the Denver area expect double-digit hiring of information technology professionals in the second quarter of 2006, according to the latest Robert Half Technology IT Hiring Index and Skills Report.
Fourteen percent of executives surveyed plan to add staff during the quarter while 2 percent anticipate reductions in personnel. The net 12 percent hiring increase is unchanged from the first-quarter forecast and up four points from the same quarter a year ago.
Asian demand boosts McData’s profits
McData Corp., whose switches direct information in data-storage networks, reported a fourth-quarter profit of $5.3 million as sales surged on rising demand in Asia.
Net income was 3 cents a share, compared with a net loss of $80,000, a year earlier, the Broomfield-based company said Thursday. Excluding some costs, profit was 8 cents a share, beating the 6-cent estimate of JP Morgan Chase analyst Mark Moskowitz.
Google buys Upstartle, takes aim at Microsoft
Google Inc., the most-used Internet search engine, bought Silicon Valley startup Upstartle, gaining Writely Internet word-processing software and a new weapon in its battle with Microsoft Corp.
The acquisition puts Mountain View, Calif.-based Google in direct competition with Microsoft’s Office software and signals Google’s intention to expand its reach farther into Microsoft’s products.
Black Hills to buy gas reserves in Colo.
Black Hills Corp. said Thursday it has agreed to acquire some western Colorado oil and natural assets from Koch Exploration Co. that have about 40 billion cubic feet of proven gas reserves. Black Hills Corp. of Rapid City, S.D., did not release the terms of the agreement, which is expected to close in the first quarter.
GEMM to redevelop Metrolux Theatre site
GEMM Homes LLC has purchased the former Metrolux Theatre at U.S. 34 and North Denver Avenue in Loveland from Metrolux Theatre Corp. for $3.2 million.
The company plans to redevelop the site into a retail center with space for two to three tenants and will construct additional buildings on the site.
Chopper-maker plans to relocate amid strike
Sikorsky Aircraft has hired temporary workers and will move some operations out of state during a strike by nearly 3,600 Teamsters that is in its third week, a company spokesman told The Associated Press on Thursday.
Bud Grebey, a spokesman for the helicopter-maker, would not say where the company would move operations.
Sikorsky has other facilities in New York, Pennsylvania and Alabama.
Rumor of deal boosts values of GM shares
General Motors Corp. shares climbed 4.5 percent on Thursday following reports that the United Auto Workers and Delphi Corp. were making progress on talks to avert a strike, though the union issued a strongly worded denial that a deal was close.
UAW local leaders told the Detroit Free Press on Wednesday that the union summoned them to a meeting in Detroit next Wednesday for an update on the talks, and some said that a deal was near.
JPMorgan settles to tune of $425 million
JPMorgan Chase & Co., the third-biggest U.S. bank by market value, said it reached a $425 million settlement with creditors of National Century Financial Corp., a bankrupt health-care finance company.
JPMorgan agreed on Feb. 22 to pay $375 million to creditors known as the Arizona noteholders, according to a filing Thursday with the Securities and Exchange Commission. It also will pay $50 million to the Unencumbered Asset Trust, created to benefit National Century creditors.
Maker of car interiors subpoenaed by SEC
Lear Corp., a maker of automotive interiors, has been subpoenaed by the Securities and Exchange Commission in an investigation of General Motors Corp.’s accounting practices.
