Archive: July 2003
Oregon certification deadline at hand
July 31, 2003Derek Rice
July 31, 2003
PORTLAND, Ore. - The state of Oregon has set Thursday as the deadline for out-of-state monitoring companies to meet its certification standards.
In May, the Oregon Department of Public Safety Standards and Training notified executive managers of all companies with operations in the state that they would be required to have a state of Oregon certified alarm monitor instructor provide training to meet its certification standard.
For large national companies like Network Multifamily...
Diversified to provide systems below ground zero
July 31, 2003SSN Staff
July 31, 2003
SADDLE BROOK, N.J. - Henry Bros., the wholly owned integration subsidiary of Diversified Security Solutions Inc., has been awarded a $1.6 million contract to provide security systems below the former site of the World Trade Center in New York.
As part of the contract, Henry Bros. will install security and communications solutions in the new underground train station that connects New York and New Jersey. Among the solutions to be installed are closed circuit TV, access control and...
Brink's shows strong profits for Q2
July 31, 2003SSN Staff
July 31, 2003
RICHMOND, Va. - Revenues at Brink's Home Security rose nine percent to $76.5 million in the second quarter of 2003 thanks to a 10 percent growth in the company's subscriber base over the same period in 2002, company officials said Thursday.
As of June 30, the home security company had more than 795,000 subscribers, including 28,000 that were added during the second quarter. The company's annualized disconnect rate also improved to 7.2 percent, down from 7.5 percent a year earlier.
Operating...
UTC to relocate new Chubb unit
July 31, 2003SSN Staff
July 31, 2003
HARTFORD, Conn. - The new corporate parent of Chubb Plc. plans to relocate the London-based company’s headquarters here and double the size of the security and fire service provider with acquisitions, according to published reports.
Officials at United Technologies Corp. told The Associated Press this week that the necessary resources to grow the company were located here at UTC's headquarters, not in London. Chubb employs about 40 people in London but has about 48,000 employees...
In a matter of time, Chubb deal expects to close
July 24, 2003Chelsie Woods
July 24, 2003
HARTFORD, Conn. - Officials from United Technologies Corp. expect to close on its acquisition of fire and security service provider Chubb Plc. by the end of the month, a deal that will pave its way into the security market.
The $1 billion transaction has already received federal antitrust regulatory approval, but prior to press time UTC extended its deadline to acquire shares from Chubb stockholders. As of July 9, UTC reported only 40 percent of Chubb shareholders had tendered their...
Sprinklers proposed for homes
July 24, 2003SSN Staff
July 24, 2003
MONTGOMERY, Md. - Council members here have written proposed legislation that would require built-in fire sprinkler systems all new residential structures in the county. The measure, which would also include single family homes, would be the largest locality to adopt such requirements, according to a report in the Washington Post.
The bill, drafted by Phil Andrews, D-Gaithersburg, would also encourage the retrofitting of existing dwellings with a county property tax credit that could...
LAPD abandons verified response, adopts compromise
July 24, 2003Derek Rice
July 24, 2003
LOS ANGELES - On Tuesday, the Los Angeles Police Commission voted 4-1 in favor of a compromise plan for responding to alarms, putting an end to a year and a half of debate in the city.
The compromise plan, put forth last week by Mayor James Hahn, was adopted in lieu of the commission’s nonresponse policy for unverified alarms. That policy would have required a person or video-monitoring equipment at the scene to verify that there had been a break-in before police would respond.
Under...
Integrated Alarm stock goes on sale
July 24, 2003Derek Rice
July 24, 2003
ALBANY, N.Y. - Integrated Alarm Services Group went public today at an asking price of $9.25, which is on the lower end of the company’s projected range.
As of mid-day, the price of the stock, which trades under the ticker symbol IASG on the Nasdaq, had risen to $9.50.
Integrated’s IPO is the first in the security industry since Verint Systems Inc. went public in 2002, and could be used as a measuring stick for the security industry, according to Jack Mallon of Mallon...
False alarms among factors contributing to decline in monitoring revenues
July 17, 2003Derek Rice
July 17, 2003
SAN JOSE, Calif. - According to analysts from Frost & Sullivan, security monitoring remains a highly sensitive segment of the industry, and may be suffering from the effects of false alarm policies around the country.
Jim Hawkins, strategic account manager for Frost & Sullivan’s Industrial Group, cited numbers from the National Burglar and Fire Alarm Association that show consumers are responsible for 76 percent of all false alarms. Despite this, he said, the onus for false...
OSE taps neutral management firm to run the group
July 17, 2003Chelsie Woods
July 17, 2003
PISCATAWAY, N.J. - An independent management firm has been hired by the Open Security Exchange to help manage the organization that was formed earlier this year to define best practices and promote vendor neutral specifications for the integration of IT and physical security.
Though a final contract has yet to be signed, the Industry Standards and Technology Organization will help the OSE with day-to-day operations, such as handling finances, member recruitment and providing a single...