Archive: July 2002

PALO ALTO, Calif.-A home management network company has announced a partnership with Panasonic to bring to market a home security and control system that the companies would sell through national broadband service providers. The system, being developed by MyCasa Network, a hardware and software company based here, is a broadband-based home management   system that enables a homeowner or small business owner to remotely view and control devices within the home, said Mike Stocker, manager of...

PALM BEACH GARDENS, Fla.-Wackenhut Corrections Corp. has elected former vice chairman George C. Zoley as chairman of the board and Wayne H. Calabrese as vice chairman. The election of Zoley as chairman and Calabrese as vice chairman followed the resignation of former chairman George R. Wackenhut and board members Richard R. Wackenhut and Philip Maslowe on May 8, 2002, the date the merger of The Wackenhut Corp. and a subsidiary of Group 4 Falck was completed. The board also elected Lars Norby Johansen,...

We sent a newspoll to our Security Systems News Newswire subscribers asking them what they think about Tyco's plan to purchase DSC. Here's the question we asked, how people responded and comments some of you made. Question: What type of an impact do you think Tyco's planned purchase of security product manufacturer DSC will have on the security industry if approved by federal regulators? 51% - Very Significant 39% - Significant 7% - No impact 3% - No opinion   "Frankly, I'm very concerned...

SILVER SPRING, Md.-The National Burglar & Fire Alarm Association presented a number of different awards during the ISC Show in Las Vegas, including awards for Fire Official of the Year, the Morris F. Weinstock Award and the Sara E. Jackson award. Jack Menke from the Safety Division of the Kettering, Ohio Fire Department received the 2002 Fire Official of the Year Award for his collaborative spirit in creating an open dialogue with the alarm and security industry. Menke is also a sales manager for...

HICKORY, N.C.-Power supply and surge protection manufacturer Stealth Laboratories recently quadrupled the size of its headquarters, providing the company with more room to make product and expand its lines. In April, the company moved into a newly built building next to its current facility, providing Stealth Laboratories with a separate production facility. The facility will focus on making power supplies for CCTV, access control and alarm applications, according to Gavin Sinclair, vice president...

SADDLE BROOK, N.J.-Systems integrator Diversified Security Solutions made its first acquisition since going public earlier this year, buying PhotoScan Systems, a Los Angeles company that specializes in security systems for medical facilities. The deal expands Diversified Security's footprint into the West Coast, providing the company with a platform to grow in that geographic market. "The presence is the most important thing," said Irv Witcosky, president and chief operating officer of Diversified....

TOPEKA, Kan.-Protection One announced in June that it had agreed to pay $7.5 million to a group of shareholders who sued the company in 2000 as a result of the company's restatement of earnings following a Securities and Exchange Commission inquiry into its company finances. The group that the company reached a settlement with was originally four separate lawsuits consolidated into one action, said Richard Ginsburg, president and chief executive officer of Protection One. All the lawsuits were filed...

There's been a flurry of activity here at Security Systems News. Though that's not an unusual pace for us with publication deadlines happening every three weeks or so, but the past two months have been particularly interesting. What am I talking about, you may wonder? Here's a one word answer -- Tyco. We, like so many of you in the security industry, have watched Tyco fall from its glory. Its plans to break up into four separate companies ended this spring after its stock price took a nose dive...

SAN RAMON, Calif.-SAFE and SAFE Financial have moved into a new 35,000 square-foot building here which is more than three times larger than the company's previous facility located here. Paul Sargenti, chief executive officer of both SAFE and SAFE Financial, said that the new facility will allow the company to serve its current customers more efficiently with updated data processing and telecommunications technologies. The decision to expand was also driven by an aggressive growth forecast and strategy...

ST. LOUIS-SLP Capital has taken its expertise in providing due diligence services on acquisitions and recapitalizations and broken it into a separate entity, SLP Advisory Services. The newly created division taps into services SLP has traditionally provided under its financing umbrella. But with more business in the due diligence market, company officials decided it was time for it to stand on its own. "After all the years of doing this for our own accounts and having other capital providers looking...