Green Mountain Coffee Announces $17 Million Settlement of Patent Litigation with Kraft

first_imgGreen Mountain Coffee Announces $17 Million Settlement of Patent Litigation with Kraft WATERBURY, Vt.–(BUSINESS WIRE)–Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) announced October 23, 2008, that its wholly owned subsidiary, Keurig, Incorporated, has entered into a Settlement and License Agreement to completely settle its patent litigation with Kraft Foods Inc., Kraft Foods Global, Inc., and Tassimo Corporation (collectively “Kraft”). Pursuant to the terms of the Settlement and License Agreement, Kraft will pay to Keurig a lump sum of $17,000,000 and Keurig has granted to Kraft and its affiliates a limited, non-exclusive, perpetual, worldwide, fully paid up license of Keurig’s United States Patents Numbered 6,607,762 (the “762 Patent”) and 7,377,162 (the “162 Patent”), and United States and foreign counterpart patents connected to the 762 Patent or 162 Patent, for use in connection with the manufacture, distribution and sale of beverage brewing machines and certain beverage filter cartridges.As previously disclosed, Keurig’s patent family which covers its K-Cup(r) line of single serve beverage filter cartridges was not involved in the patent litigation.Mr. Michael J. Degnan, Vice President-General Counsel of Keurig, Incorporated, said, “The parties believe that the settlement is an efficient and pragmatic way to resolve their patent dispute. Both parties agree that it is in the best interests of their respective businesses and shareholders to avoid the cost and uncertainties of continued litigation.” Mr. Degnan continued, “Keurig plans to continue to invest in research and development and in the value of its intellectual property portfolio.”About Green Mountain Coffee Roasters, Inc. and Keurig, IncorporatedGreen Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) is recognized as a leader in the specialty coffee industry for its award-winning coffees, innovative brewing technology and socially and environmentally responsible business practices. GMCR manages its operations through two wholly owned business segments: Green Mountain Coffee and Keurig. Its Green Mountain Coffee division sells more than 100 high-quality coffee selections, including Fair Trade Certified(tm) organic coffees, under the Green Mountain Coffee(r) and Newman’s Own(r) Organics brands through its wholesale, direct mail and e-commerce operations (www.GreenMountainCoffee.com(link is external)). Green Mountain Coffee also produces its coffee as well as hot cocoa and tea in K-Cup(r) portion packs for Keurig(r) Single-Cup Brewers. Keurig, Incorporated is a pioneer and leading manufacturer of gourmet single-cup coffee brewing systems for offices, homes and hotel rooms. Keurig markets its patented brewers and K-Cup(r) portion packs through office distributors, retail and direct channels (www.Keurig.com(link is external)). K-Cup(r) portion packs are produced by a variety of licensed roasters including Green Mountain Coffee. Green Mountain Coffee Roasters, Inc. has been recognized repeatedly by CRO Magazine, Forbes and SustainableBusiness.com as a good corporate citizen and an innovative, high-growth company.Forward-Looking StatementsCertain statements contained herein are not based on historical fact and are “forward-looking statements” within the meaning of the applicable securities laws and regulations. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, the Company’s success in efficiently expanding operations and capacity to meet growth, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, the unknown impact of management changes, Keurig’s ability to continue to grow and build profits with its roaster partners in the office and at home markets, the impact of the loss of one or more major customers for Green Mountain Coffee or reduction in the volume of purchases by one or more major customers, delays in the timing of adding new locations with existing customers, Green Mountain Coffee’s level of success in continuing to attract new customers, variances from sales mix and growth rate, weather and special or unusual events, as well as other risks described more fully in the Company’s filings with the SEC. Forward-looking statements reflect management’s analysis as of the date of this press release. The Company does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.last_img read more

Junk Bond Deal for Murray Energy to Take Over Bowie Resource Partners Falls Through

first_imgJunk Bond Deal for Murray Energy to Take Over Bowie Resource Partners Falls Through FacebookTwitterLinkedInEmailPrint分享Wall Street Journal: Bowie Resource Partners LLC, a Kentucky coal-mining company, pulled a $510 million debt deal Friday as investor sentiment toward high-yield debt became more cautious.The deal would have paved the way for a takeover of the company by Murray Energy Corp. and new bondholders.The proposed deal was intended to refinance Bowie debt set to mature in 2020 and would have cashed out Bowie’s current owner, commodity trading firm Trafigura PTE Ltd.The debt deal was a key condition in a new partnership Bowie planned to form with Murray Energy, to be called Canyon Consolidated Resources. Murray Energy was set to take a 30.5% stake in the company, and new bond investors would’ve gotten a 28.5% stake if the debt deal had gone through.The decision to pull the plug on the capital raise puts the fate of the Canyon partnership into question.More:  ($) “Coal Company Bowie Resource Partners Pulls Debt Deal Backing Takeover”last_img read more

FREDERICKSBURG REGION: VIRGINIA’S ADVENTURE MECCA

first_imgA full-service brewery and restaurant in the heart of downtown Fredericksburg, Spencer Devon focuses on providing exceptionally crafted beer and a quality dining experience using locally derived ingredients. Now a natural park preserve and archaeological site, Government Island contains a trail and interpretive signs to help depict its rich, nationally significant history (the stone from the Quarry was used to build the White House and the U.S. Capitol). With a 1.5 mile trail, Government Island is an ideal location to observe aquatic and native plants, as well as birds and other wildlife. ON THE WATER Start planning your Fredericksburg area adventure at visitfred.com.    The topography of Crow’s Nest Natural Area Preserve is varied, with the high narrow ridgeline rising 160 feet above two tidally influenced creeks: Potomac and Accokeek. Crow’s Nest also includes a shoreline birding/nature trail to viewpoints of Accokeek Creek, and an ADA-accessible canoe/kayak launch facility for the Crow’s Nest Water Trail. Lake Anna  Crow’s Nest Natural Area Preserve  Potomac Point Winery  A. Smith Bowman Distillery  Widewater State Park offers two miles of shoreline along the Potomac River. The park features hiking trails, picnic shelters, a public boat launch and a visitor center.  Government Island Among Virginia’s most popular lakes, Lake Anna offers 13,000 scenic acres of sailing, water-skiing and sport fishing. Boaters can launch boats at the lake’s marinas or take a rental for a spin. At Lake Anna State Park, guests can rent cabins, yurts and lodges for up to 16 people. The park boasts miles of pristine hiking and horseback riding trails.  center_img The Rappahannock River in eastern Virginia is the country’s longest free-flowing river in the eastern United States. Enjoy the river on your own or discover a number of river outfitters in the area that offer kayaking, fishing and tubing trips. Geographically located halfway between the Union and Confederate capital cities, the Fredericksburg region is surrounded by Civil War battlefields and historic sites. The battles of Fredericksburg, Chancellorsville, the Wilderness and Spotsylvania Courthouse all raged within a 20-mile radius. These battlefields are all protected by the National Park Service and offer a number of activities. Potomac Point Winery is a beautiful, Mediterranean-style winery. The estate includes a delicious bistro, tasting room, internal courtyard, pavilion and event room. Just one mile from the Potomac River, the location was selected because of its rich history, fertile soil and river influences. GRAPES & GRAINS Battlefields A staple of Spotsylvania, A. Smith Bowman Distillery balances time-honored traditions with innovation and creativity to produce hand-crafted spirits. The distillery offers a large venue to gather, as well as tours and tastings throughout the day.  Conveniently located between Richmond and Washington, D.C., the Fredericksburg region, consisting of Stafford County, Spotsylvania County and the city of Fredericksburg, offers outdoor enthusiasts a nearly-endless supply of activities year-round. Here are just a few of our favorites:  Widewater State Park  TAKE A HIKE  Rappahannock River Spencer Devon Brewery last_img read more

Bar Technology Task Forcecreates five subcommittees

first_img Bar Technology Task Force creates five subcommittees Bar Technology Task Forcecreates five subcommittees October 1, 2001 Regular Newscenter_img The Florida Bar’s new Technology Task Force has held its first meeting and created five subcommittees to study various issues. The task force met August 22, the day before the Board of Governors’ Naples meeting to organize and discuss how to meet its charge of helping lawyers and the court system make the most out of technological changes. Chair David Welch told the board there are many ongoing technology efforts in the courts, clerks’ offices, and related agencies. For example, there is a need for a uniform electronic filing system for state courts, but many clerks have developed their own systems. “There is a genuine concern on compatibility and usability,” Welch said. “The lawyers need to be able to use the system throughout the state on a uniform basis.” The five subcommittees are: • The E-Filing Subcommittee will look at issues of uniformity for statewide court-related electronic filing. The panel will review the Supreme Court’s e-filing rules of uniformity and provide advice to users on the most efficient systems that meet those rules. • The Application Software Provider Subcommittee will study the practical and ethical considerations when law firms contract with ASPs, which provide offsite computers that lawyers can tap into to run programs and store data, including confidential client information. • The Bar Website Design Subcommittee will study improvements to the Bar’s website, including the transition from being mostly a repository of information to an interactive site that provides products and services. One discussed change would allow Bar members to log on to the Bar’s website and get a customized website with specific information and resources they had requested. (For example, a lawyer could log on to his or her “portal” and get the latest legal news and information on upcoming CLE courses in specific areas.) • The E-Commerce Subcommittee will study issues relating to digital signatures, a key component both for online commerce and issues relating to the practice of law. • The Chief Technology Officer Subcommittee will look into the recommendation of the Long Range Planning Committee that the Bar consider appointing a chief technology officer.last_img read more

Nassau Issues Bids for 2nd Phase of West Shore Road Reconstruction

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Nassau County Executive Ed Mangano joins Bayville village officials and local business owners to celebrate the reopening of West Shore Road last June. (Photo credit: Nassau County)Nassau County Department of Public Works has issued bids to reconstruct and harden West Shore Road, which was badly damaged during Superstorm Sandy.The project will begin in October and is the second phase of the ongoing reconstruction of the major road that connects Oyster Bay and Bayville.The project will run from Cleft Road south to the Long Island Rail Road overpass, and will include installation of new steel sheeting along the water, improved drainage, underground utilities and reconstruction of the roadway, the county said.A bidder will be selected by the end of March.West Shore Road reopened 17 months after Hurricane Sandy caused a major portion of the seawall and roadway to collapse. The storm also rendered the Bayville Bridge inoperable after floodwaters destroyed its electrical system, putting it out of service for 15 months.“The rebuilding of the West Shore Road seawall and roadway is symbolic of Nassau County moving forward and rebuilding after Hurricane Sandy,” County Executive Ed Mangano said in a ribbon cutting ceremony back in June to celebrate the reopening of the road.Bayville-bound drivers were forced to take a detour of up to 20 minutes during the time the road was closed.In the weeks and months following Sandy, local business owners expressed concern that potential customers would avoid the village because of the extra travel time.Construction began after the county issued an emergency order to rebuild the road.last_img read more

Beatlemania Hits Great Neck With ‘Deconstructing The Beatles’ Film Series

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York It was 50 years ago this June / Sgt. Pepper made his Beatles debut.In the run-up to golden anniversary of the Fab Four releasing their influential eighth studio album, the Gold Coast Film Festival is hosting a film lecture series starring internationally recognized Beatles expert Scott Freiman at Bow Tie Squire Cinemas in Great Neck.Rolling Stone magazine called Sgt. Pepper’s Lonely Hearts Club Band “the most important rock ‘n’ roll album ever made, an unsurpassed adventure in concept, sound, songwriting, cover art and studio technology by the greatest rock ‘n’ roll group of all time.”Besides the popular title track, the colorful album, released to critical acclaim on June 1, 1967, included such Beatles classics as “With a Little Help from My Friends,” “Lucy in the Sky With Diamonds,” “Getting Better,” “When I’m Sixty Four” and “A Day in the Life.”The series kicks off April 27 with a screening of Deconstructing The White Album. Reconstructing Revolver screens on May 11 and the new release Deconstructing Sgt. Pepper’s Lonely Hearts Club Band screens June 1, followed by a celebration of the album at the Gold Coast Arts Center next door to the movie theater. The series concludes with Deconstructing Rubber Soul on June 29.Each is a previously recorded film lecture in which Freiman—author of All the Songs: The Story Behind Every Beatles Release—analyses the inspiration, history and evolution of each album while pulling the curtain back on why the groundbreaking band is so beloved.The June 1 Sgt. Pepper post-screening party will feature live performances by BeyondFab!, a local Beatles tribute band that will play songs from the entire catalogue. Deserts and drinks will also be served.The film series will be screened at Bow Tie Squire Cinemas, 115 Middle Neck Rd. in Great Neck. The party will be held at the Gold Coast Arts Center, 113 Middle Neck Rd. in Great Neck. Tickets for the screenings cost $10 for students, $15 for adults in advance and $20 at the door. Tickets for the party cost $45 for students, $65 for adults. Tickets can be purchased for the whole package—including the party—for $100. For more information, visit goldcoastarts.org and bowtiecinemas.comlast_img read more

Qld cricketer Peter Forrest has signed a substantial contract

first_imgPeter Forrest playing in a match against New South Wales. Picture. Phil HillyardThe split-level home is on 405sq m of land. The original external elements of the home have been retained including timber casement windows and leadlight inserts in the front door. There are polished hoop pine floors throughout the home and a modern kitchen.Marketing agent Glenn Bool of Place Estate Agents said it sold at auction. He said two offers had been made for the home before auction.The buyer was Brisbane-based and had been impressed with the character of the home, he said. Peter Forrest and his wife Rachel have sold their Cannon Hill home.QUEENSLAND cricketer Peter Forrest has secured a contract worth $895,000 and he won’t have to hit a single ball to get it.Mr Forrest and his wife Rachel have sold their home at 52 Aster St, Cannon Hill after listing it for an auction a few weeks ago.The couple, who have a 10-month old son, bought the house in 2012 and renovated it into a five bedroom home.More from newsNew apartments released at idyllic retirement community Samford Grove Presented by Parks and wildlife the new lust-haves post coronavirus20 hours agoHe said they felt with properties moving fairly fast in the area and securing good prices, it was a good time to sell.last_img read more

State Street buys GE Asset Management for $485m

first_imgState Street is to acquire GE Asset Management (GEAM) in a $485m (€645m) cash deal set to boost State Street Global Advisors (SSgA) assets under management by $100bn.Announcing the deal, State Street said the move would boost SSgA’s alternatives capabilities, noting GEAM’s experience in direct private equity and property.Jay Hooley, chief executive at State Street, said GEAM was a “very high-quality organisation” closely aligned with his company’s goals.“It is also reflective of our desire to allocate capital to higher growth and return businesses,” Hooley added. Ron O’Hanley, Hooley’s counterpart at the $2.4trn SSgA, highlighted several areas where GEAM’s experience would aid his company in new areas.“GEAM will bring new alternatives capabilities in direct private equity and real estate to SSGA while enhancing our existing active fundamental equity, active fixed income and hedge fund teams,” he said.O’Hanley added that GEAM’s outsourced CIO activities would “significantly strengthen” SSgA’s hand in what it regarded a rapidly growing area.SSgA said it expected to retain 90% of GEAM’s client assets, which it said were largely managed on behalf of US defined benefit funds.It added that the transaction was expected to complete by the third quarter of the year.last_img read more

Inpex starts up Ichthys LNG power plant

first_imgThe Inpex-operated Ichthys LNG project has initiated a start-up of gas turbine generators at the onshore power plant near Darwin, Australia.Inpex said on Friday that this milestone was a significant step towards power generation at the project’s onshore combined cycle power plant (CCPP).Ichthys project managing director, Louis Bon, said: “Initiating the safe start-up of the gas turbine generators (GTG) illustrates the strong commitment of the onshore team to overcome challenges and achieve our targets.“The combined cycle power plant uses gas and steam turbines together to produce up to 50 percent more electricity from the same amount of fuel compared with a traditional simple-cycle plant.”The waste heat from the gas turbines will be used to create steam for the nearby steam turbine system, which generates extra power. Ultimately powered by natural gas from the Ichthys Field, the CCPP will use a mix of five gas and three steam turbine generators to supply all the electricity requirements for onshore processing of LNG.The power plant has the capacity for up to 490 megawatts of electricity, which allows LNG processing trains to cool and liquefy natural gas.“With more than 50 per cent energy efficiency, the CCPP will provide energy efficiency well above the 30-35 per cent typically achieved by a standard industrial gas turbine open cycle power plant and will allow the project to use saved fuel gas to produce more LNG,” Bon added.Inpex said that, when fully operational, the Ichthys LNG project would have the capacity to produce up to 8.9 million tonnes per annum (Mta) of LNG, up to 1.65 million tonnes per annum (Mta) of liquefied petroleum gas, and 100,000 barrels of condensate a day (at peak).When it comes to offshore components of the Ichthys LNG project, the Ichthys Explorer central processing platform (CPF) was moored in the field in June while the Ichthys Venturer floating production, storage and offloading facility (FPSO) was moored about two months later, in late August.In addition, a naming ceremony for the Oceanic Breeze tanker that will be transporting 0.9 million tons of liquefied natural gas per year produced from Ichthys took place in late October at Mitsubishi Heavy Industries’ shipyard in Nagasaki. The Oceanic Breeze will join another tanker, the Pacific Breeze, in a fleet which will be chartered by Inpex to transport Ichthys-produced LNG.last_img read more

Hapag-Lloyd Cruises: Europa 2’s cold ironing certified by DNV GL

first_img This is the first time a cruise ship has been using cold ironing for a long period of time, according to Hapag-Lloyd Cruises. Europa 2, a cruise ship operated by Germany-based cruise line Hapag-Lloyd Cruises, has had its cold ironing connection certified by the classification society DNV GL.  Hapag-Lloyd Cruises: The End of Heavy Fuel Oil Era in Expedition Fleet The cruise vessel has been successfully using cold ironing at the Cruise Center Altona in Hamburg for the past 30 days and was able to save a total of 600 tons of carbon dioxide. All new ships in the company’s fleet are equipped for cold ironing. “We are glad that we have been able to make such valuable use of this forced break by driving forward cold ironing and the certification of the Europa 2. The fact that a cruise ship has used cold ironing over a long period of time in Hamburg is an important and unprecedented experience,” Karl J. Pojer, CEO of Hapag-Lloyd Cruises. Posted: about 1 year ago Furthermore, all routes are carefully planned with an environmentally efficient average speed not pushing the vessels to go as fast as possible, reduces consumption by 30% and also lowers the emissions, the cruise line added. The luxury ship Europa 2, with a maximum of 500 passengers requires 2.2 megawatts of power per hour during its laytime. This reduces the ship’s emissions to practically zero. The electricity used is being supplied by Hamburg Energie and comes from 100% renewable resources, which means that the operation of the Europa 2 in the port is practically climate-neutral, the company said. The compatibility of the cold ironing connection at the Cruise Center in Altona was adjusted by the Hamburg Port Authority (HPA), as the small Europa 2 requires a lower voltage than the other cruise ships that are using cold ironing there. The settings can be easily duplicated any time the luxury ship makes a stop at the port in the future. center_img “Successful use of cold ironing is another important part of our environmental strategy. We use marine gas oil with a low 0.1% sulphur content in the whole fleet, all over the world, thereby going beyond the legal requirements.” As explained, the certification is a result of testing its undisrupted use and compatibility of cold ironing. Categories: Business & Finance By using the low-pollutant fuel marine gas oil with a sulphur content of 0.1%, the sulphur emissions of the Hapag-Lloyd Cruises fleet will be cut by 80%. The switch to marine gas oil also means a reduction in soot and particulates of up to 30%. Posted: about 1 year ago Image Courtesy: Hapag-Lloyd Cruiseslast_img read more