Home 2003 April
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Founder dead set on reviving Red Herring

Red Herring may be officially dead, but its founder has no intention of letting the defunct magazine rest in peace.

The last of the Bay Area-based national business technology magazines ceased publication after its parent company, Red Herring Communications Inc., filed for bankruptcy as its last issue hit newsstands in late February.

San Mateo-born Tony Perkins founded the San Fransico-based magazine with his brother Michael a decade ago.

Named after the

 
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Financial overhaul

Once considered boring or the harmless butts of bad business jokes, accountants shed that image after the record-breaking bankruptcies of Enron Corp. and WorldCom Inc. showed what can happen when bean-counters go bad.

In the aftermath of the Enron scandal and the implosion of “Big Five” accounting firm Arthur Anderson LLP, Congress passed the Sarbanes-Oxley Act of 2002

 
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Some companies struggle with law

Under the Sarbanes-Oxley Act of 2002, the U.S. Securities and Exchange Commission enforces strict regulations on financial statement certification, reporting and disclosure controls, and procedures.

New certification rules require that CEOs and CFOs sign off on and take personal liability for their companies’ financial reporting. If any fraud is committed by the corporation, these officers take the fall.

New accelerated reporting rules take advantage of advances in computer technology and shorten the

 
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Wells Fargo growth challenged by stock prices

While it may make strategic sense for Wells Fargo & Co. to use a huge bond offering to go on a small-bank buying spree to protect its turf, industry insiders say stock prices, the currency of the buyout, are working against the San Francisco giant.

Wells Fargo says it recently sold $3 billion dollars in 30-year convertible debt securities and may sell an additional $450 million in debt to

 
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Startups play waiting game for next round

A new study by research firm VentureOne of San Francisco shows not only is venture capital funding at a seven-year low, the length of time a startup has to wait between funding rounds has more than doubled in the past three years.

The over-funding of bad business models during the dot-com boom combined with a deadly-quiet initial public offering market has venture capitalists scrambling to keep from losing their

 
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Merger leaves TiVo in limbo

A proposed mega merger flooding the pay-TV industry has some wondering if one high-profile Silicon Valley company will be swept up in the process or left as debris in the deal’s wake.

San Jose-based digital video recorder (DVR) maker TiVo Inc. (Nasdaq: TIVO) saw its share price fall by more than 15 percent to $4.49 a share April 11 after Australia’s News Corporation Ltd. said it would pay $6.6

 
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San Jose company lands $60M military contract

Vision Systems International LLC (VSI) of San Jose recently won a $60.1 million contract to deliver 300 helmets for pilots of the military’s fleet of fixed-wing jet fighters. The Department of Defense believes the technology could mean the difference between a fighter pilot’s life and death in a battle situation.

After the collapse of the Berlin Wall and the

 
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Game software scores real-world mapping market

Software originally invented for 3-D video games is increasingly being adopted by strategic planners of real estate. Mountain View-based Keyhole Inc. offers a service called EarthViewer3D that allows businesses access to an Internet-based, graphics mapping system that may replace traditional maps for many purposes.

Keyhole gained attention recently when TV networks ABC and CNN used it to illustrate battle areas in the second Gulf

 
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Health law has HR departments scrambling

Large corporations nationwide, including many in the Bay Area, are scrambling to meet a federal deadline for an employee health care law that goes into effect April 14.

Originally conceived to allow workers who change jobs to stay insured without a gap in coverage, a significant portion of the Health Insurance Portability and Accountability Act (HIPAA) of

 
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Biotech startups starving from dearth of IPOs

Too many players chasing too little money are dashing the hopes of Bay Area biotechnology companies trying to raise money in public or private markets.

Since last June, no biotechnology or bioscience company has debuted on a U.S. public stock exchange, according to a new report by merchant bank Burrill & Co. of San Francisco. A handful of biotech startup companies planned to go public during the past three

 
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