Archive: May 2003
Tyco analyst charged with issuing misleading, exaggerated research reports
May 29, 2003SSN Staff
May 29, 2003
WASHINGTON - A top Merrill Lynch analyst considered an expert on Tyco International has been charged by securities regulators with a series of securities violations that include issuing research reports on Tyco containing misleading information, giving out non-public information and giving gifts to company executives.
In its complaint, filed Wednesday, NASD, a regulatory body that oversees registered securities professionals, alleges that Phua Young published reports that contradicted...
O’Gara report: Forward looking companies to gain new opportunities from Homeland Security
May 29, 2003SSN Staff
May 29, 2003
WASHINGTON - Corporate security consulting firm The O’Gara Co. this week released a report that notes that forward looking companies will find new business opportunities in the Homeland Security market, with federal spending in the private sector market expected to grow from $6.1 billion in 2003 to $7.2 billion in 2004.
The report, called "The Homeland Security Market: Corporate and Investment Strategies for the Domestic War on Terrorism" examines the key policy factors that...
NACC rolls out interactive video service
May 29, 2003Andrea Gura
May 29, 2003
IRVINE, Calif. - National Alarm Computer Center has rolled out a new Interactive Video Monitoring service for its dealer customers that it eventually expects to outpace the revenue potential of traditional alarm monitoring.
With its new IVM offering, and a new IVM manager expected on board in the next few weeks, NACC expects to have about 100 dealers on board with the service at the end of the year, said Steve Baker, president of NACC.
"There is potential here for 25 to 30 percent...
Strong message sent by IR reincorporation vote
May 29, 2003Chelsie Woods
May 29, 2003
DAVIDSON, N.C. - A public employee union group received overwhelming support today as it urged Ingersoll-Rand investors at the company’s annual shareholder’s meeting to support a reincorporation of the company in the United States.
Of the voting shareholders, 41.4 percent voted to support a resolution proposed by the American Federation of State, County and Municipal Employees for Ingersoll-Rand to reincorporate in the United States.
Though it did not pass, officials...
HAI to provide products for home integrator training
May 22, 2003SSN Staff
May 22, 2003
NEW ORLEANS, La. - HAI is taking part in a home technology integrator training program being offered by the Cisco Learning Institute, a non-profit center designed to train and certify contractors working with technology in the home.
Products from HAI, an automation and security product manufacturer based here, will be used in the program in order to help illustrate different components of a home network.
HAI's products will be used in the course that covers standards-based cabling...
PSI upgrades Sonitrol central
May 22, 2003Andrea Gura
May 22, 2003
SAN BERNARDINO, Calif. - A Sonitrol franchisee here is undertaking an extensive renovation project that will ultimately relocate and expand the central station while upgrading to a new monitoring software platform.
Protection Service Industries, which has operated a Sonitrol franchise here since the early 1980s, is gutting its entire office, which serves as the Rancho Cucamonga, Calif.-based system integrator's Southern California regional office. Located in a strip mall-type structure,...
Microtec reports steep increase in commercial installs
May 22, 2003SSN Staff
May 22, 2003
ST. AUSGUSTIN, Quebec - A sharp spike in commercial business for full-service firm Microtec Enterprises led the company's 6.2 percent increase in operating revenues for the 2002 fiscal year, where revenues reached $31,039,000 compared to $29,225,000 in 2002.
Revenues from the company's commercial activities, an area where the company has focused over the past few years, jumped 44.5 percent, part of a two and a half percent jump in monitoring service revenues.
Despite the revenue...
Firms join to create APi Electric
May 22, 2003Chelsie Woods
May 22, 2003
DULUTH, Minn. - Two large electrical contracting firms owned by the same company for more than a year have merged to form APi Electric, a company that intends to grow its security business in the coming years.
The new company, APi Electric was borne from Lakehead and Thompson Electric and capitalizes on each company’s strength. Lakehead was proficient in industrial and highway street lighting markets, while Thompson has focused on the commercial and electrical contracting...
Medeco’s residential line expected to surpass commercial business
May 15, 2003Chelsie Woods
May 15, 2003
SALEM, Va. - After years of focusing on the commercial lock market, Medeco has entered the residential market. Even though it’s a new focus, company officials expect residential lock sales to surpass its commercial business in only a matter of years.
The residential line launch follows the request of Medeco’s commercial lock customers, who often asked the company if it also offered locks for the residential market.
“Up until now,...
Smart Card Alliance gains 26 new members
May 15, 2003SSN Staff
May 15, 2003
ORLANDO - Twenty-six new organizations have joined the Smart Card Alliance, a multi-industry organization working to accelerate the acceptance of smart card technology.
Among those joining the group are Identix, Samsung Electronics, ImageWare Systems, OmniTek, Precise Biometrics, RSA Security and Zebra Tech Corp. Together the firms bring a mix of technologies such as biometrics and contactless cards, systems integration and card issuance acceptance.
More than half of the Smart Card...