Archive: December 2002
Merger creates new firm, Mallon Capital
December 1, 2002Chelsie Woods
NEW YORK - Investment banking firm Mallon & Associates has joined up with Broadband Capital Holdings to create a new company called Mallon Capital LLC.
The deal, completed in November, combines the security expertise of Mallon & Associates with the investment banking infrastructure of Broadband Capital, a boutique investment bank that employs more than 20 people.
"We've been focusing on mergers and acquisitions and through our alliance now, we'll be able to work with them in conjunction with raising...
Central emerges from bankrupt parent
December 1, 2002Andrea Gura
CHARLOTTE, N.C. - An interactive central station here has emerged as a new company after it was bought by a group of investors while its former parent company works its way through Chapter 11 reorganization.
Interactive Security Corp., which began operating under its new name in late summer, now monitors about 500 accounts, a portion of which it has been signing on over the past few months, said Gerald Hotopp, president and general manager of ISC.
Some of the company's clients include Duke Energy,...
Wireless touted as next wave
December 1, 2002Joanne Friedrick
Despite the fairly rapid changes taking place in the video transmission market, spurred by the acceptance of digital technology and improved bandwidth and compression scenarios, industry players are already looking ahead to the next wave of technology.
Craig Scott, director of marketing and product management for Silent Witness, said "the next move is to wireless. We see a whole pile of technology coming out in the next 18 months."
Despite what he called "the old school in security that says there's...
SPX expands reach with Vance Int'l
December 1, 2002SSN Staff
OAKTON, Va. - In a move that mirrors industry consolidation trends, SPX Corp. acquired Virginia-based Vance International to expand the company's Security and Investigations Division.
SPX officials announced the purchase of Vance, a $95 million in annual revenue executive protection and guard firm, a day after the Oct. 14 acquisition. Cost of the acquisition was not disclosed.
Plans call for the two companies to reorganize. SPX's Security and Investigations, which focuses on protection services...
Graybeards
December 1, 2002SSN Staff
This is a continuation from a previous column, identifying 10 iron rules for good management. In the first column, we identified the first five iron rules, and now we continue with…
Iron Rule #6: Successful managers/entrepreneurs dwell not on their failures but, rather, on their successes. This is kind of the half-full/half empty attitude that we have. It is said positive thinkers see the glass as half-full…conversely; negative thinkers see it as half empty. I'm not sure about whether...
Report charts fire deaths by state
December 1, 2002SSN Staff
QUINCY, Mass. - A state-by-state analysis of fire death patterns by the National Fire Protection Association shows fire deaths have dramatically decreased since the 1980s, but death rates vary greatly depending on the state.
According to the study, "Fire Loss in the United States," death from fire declined to 3,347 in 1999 from 5,804 in 1980. States with the highest death rates in 1999 were Alabama, Tennessee, Mississippi, South Carolina and West Virginia. States with the lowest death rates were...
ABI to absorb EIDT in merger
December 1, 2002Carolyn Smith
KENNEWICK, Wash. - Advanced Biometrics Inc. announced in October that it again would move toward a share exchange agreement nulled earlier this year with Electronic Identification Inc.
As a result of the agreement, EIDT and ABI will merge under the name Advanced Biometrics Technology Corp.
ABI president Bob Papke said the deal could be completed by January 2003. "We are making some provisions to make sure this transaction goes through," Papke said.
Pending EIDT shareholder approval, ABI will absorb...
Despite woes, Axcess keeps on ticking
December 1, 2002Chelsie Woods
CARROLLTON, Texas - Despite employees being on furlough, asset tracking and digital video product manufacturer Axcess Inc. said it continued to ship product and provide technical support.
"We're virtually at full staff," said Allan Griebenow, president and chief executive officer of Axcess, in an interview shortly before press time.
Nearly 20 people were furloughed as the company seeks additional financing. Still, Griebenow said the company continues to provide product to the market, including...
DSL Internet connections can interfere with alarm system dial-out
December 1, 2002SSN Staff
Most alarm systems cannot dial out when DSL service is connected in a home or small office. As alarm service providers and DSL Internet access providers are finding out – many times the hard way – DSL connections and home alarm systems are often incompatible.
How DSL works
DSL provides high-speed Internet access over the customer's existing copper telephone wires. A telephone company or an Internet service provider, like MSN or AOL, typically provides the service. Once activated,...
Silent Witness eyes land, new building for growing company
December 1, 2002Chelsie Woods
SURREY, B.C. - Camera manufacturer Silent Witness is looking to build a new facility here that would provide more room for the company's growing business.
In early October, Silent Witness entered into an agreement to buy 11.9 acres of land for $3 million Canadian. Over the next month, company officials plan to look at options, such as whether Silent Witness would own the building or lease it from a developer.
"Because there's no existing inventory here, we took the step of securing land and examining...