World Wide Packets on All Stars list
The Seattle-based Venture All Stars Group’s new list of fast-growing companies includes just one Spokane business, World Wide Packets.
The annual list of 50 “emerging growth companies” was published on the organization’s Web site, www.Ventureallstars.com.
The list is made up of fast-growing firms in Washington, Oregon and British Columbia.
The list of 50 finalists will be narrowed by half, and then one company will be selected best overall. The winner will be announced on June 3.
World Wide Packets, based in Greenacres, has been a major developer of Gigabit Ethernet networking products for businesses, government agencies and large residential developments.
“The Venture All Stars Event provides a snapshot into the future of what the next high-growth NASDAQ IPOs may look like,” said Gary Ritner of the Puget Sound Venture Club in a press release.
CdA Mines reports first-quarter loss
Coeur d’Alene Mines Corp. reported a first-quarter loss of $1.8 million, or 1 cent per share, compared with a first-quarter 2004 loss of $1.7 million, which also amounted to a 1 cent per share loss.
The results, released Monday, included higher spending on mineral exploration and mine development, and a one-time payment of $1.6 million to settle a lawsuit with the company’s former underwriters.
Credit Suisse First Boston filed a $2.4 million breach-of-contract suit against the company in December, 2003. Coeur d’Alene Mines disputed Credit Suisse’s claims but chose to settle rather than go to trial, said Dennis Wheeler, Coeur d’Alene Mines’ chairman and chief executive officer.
During a conference call, Wheeler briefed analysts on the status of two new mine projects. Coeur d’Alene Mines has started construction of the San Bartolome silver mine in Bolivia. By July 1, the company expects to start building the Kensington gold mine near Juneau, Alaska. By 2006, the two mines are expected to boost the company’s annual silver output by 66 percent and its gold output by nearly 80 percent.
Coeur d’Alene Mines expects to produce 13.5 million ounces of silver this year and 130,000 ounces of gold.
Group seeks block of NYSE-Archipelago merger
A seat holder on the New York Stock Exchange filed suit Monday to block the merger between the NYSE and all-electronic stock market Archipelago Holdings Inc., claiming a breach of fiduciary responsibility.
William Higgins, who heads a long-standing group seeking changes at the NYSE, is the lead plaintiff in the suit. The lawsuit also names NYSE Chief Executive John Thain, the entire NYSE board and Goldman Sachs Group Inc., which advised both the NYSE and Archipelago in merger talks, claiming a conflict of interest, according to the suit.
Jay Eisenhofer, Higgins’ attorney and a partner at the law firm Grant & Eisenhofer, said he would likely file for an injunction against the deal once a final merger date is announced.
However, he said his client was not ultimately interested in blocking the merger – just getting a better deal.
“I think everybody agrees that merging with Archipelago is probably a good idea,” Eisenofer said. “It’s the terms that my client thinks are objectionable.”