Northern Power move will cost jobs

first_imgDISTRIBUTED ENERGY COMBINING NORTHERN POWER & PROTON ENERGYTO STRENGTHEN OPERATIONS, REDUCE COSTWALLINGFORD, CT, January 31, 2007 — Distributed Energy Systems Corp. (NASDAQ: DESC), today announced it will combine its two subsidiaries Northern Power Systems and Proton Energy Systems — to reduce cost and strengthen systems sales, engineering, production, service and technology development.The company, which creates and delivers products and solutions for the decentralized energy marketplace, said the reorganization will result in a charge against 2007s first-quarter results of approximately $1.0 million, or $0.03 per share, to account for staff reductions, reflecting the elimination of about 60 jobs, or 20% of the workforce, and related expenses. The reorganization is estimated to result in savings of approximately $4-$5 million, on an annualized basis, beginning in the second quarter of 2007. In addition, the Waitsfield, VT, location will be closed, and its activities moved to the companys 110,000-square-foot Barre, VT facility.During the past year, it became increasingly clear that we would benefit going forward by implementing our strategy now, to become a one-company organization, said Ambrose L. Schwallie, Distributed Energys chief executive officer. We expect these changes to improve sales and marketing effectiveness, reduce costs, enhance efficiencies of our systems engineering, products and service capabilities, and enable more and better cross-fertilization in advanced technology development.This new functional structure, Mr. Schwallie continued, allows us to focus more precisely on the markets, critical business drivers and capabilities that give Distributed Energy the best prospects for the higher-margin revenues we need to foster strong, sustained, profitable growth. Taking this action promptly will, we believe, enable the company to make better progress toward our goal of reaching profitability.Markets and OrganizationDiscussing the reorganization further, the Distributed Energy CEO cited the companys emphasis on power generation and power electronics systems, systems engineering and combined heat-and-power projects, products and services for oil and gas exploration markets, larger-scale wind projects for power generation, and commercial hydrogen, renewable fuels, and waste-to-energy technologies.To implement the reorganization, Mr. Schwallie also announced the appointment of three senior vice presidents to company-wide functional positions, all reporting to him:”Mark Murray now leads the sales and marketing functions for all of Distributed Energy products, systems and services. Mr. Murray most recently headed the companys commercial hydrogen business.”Betsy Anderson assumes responsibility for all of the companys engineering, production, project management and service activities, expanding her prior operating responsibilities beyond energy systems, products and services.”Robert Friedland takes on management duties encompassing all technology innovation, including the hydrogen research and development programs that he previously ran.Under their experienced leadership, Mr. Schwallie said, the company will work to strengthen lines of communication and operating efficiencies within the company, improve our impact in the marketplace, and continue to pursue the ideas and technologies that can enable Distributed Energy to be one of the leaders in alternative and renewable energy solutions.Mr. Schwallie concluded: This new unified focus should begin to be reflected in 2007 operating results. We believe this new, revitalized organization will put Distributed Energy in a stronger position to drive improved operating margins, and better serve markets where our capabilities and business models deliver valuable benefits to customers, now and in the years ahead.About Distributed Energy Systems Corp.Distributed Energy Systems Corp. (NASDAQ: DESC) creates and delivers products and solutions to the emerging decentralized energy marketplace, giving users greater control over their energy cost, quality and reliability. The company delivers a combination of practical, ready-today energy solutions and the solid business platforms for capitalizing on the changing energy landscape. For more information visit http://www.distributed-energy.com(link is external).last_img read more

Daniel Cormier’s rivalry with Jon Jones peaks at UFC 214

first_imgCormier (19-1) realizes he needs a victory over his self-sabotaging archrival to validate his own title reign — and any empathetic thoughts about Jones (22-1) have been drowned out by years of anger and frustration with an enemy who could have been a friend.“I’ve allowed myself to let go of that thought: ‘Why am I so disappointed in him?’” Cormier said during a recent lunch break from his other job as an MMA analyst for Fox. “Why was I so upset when he was throwing everything away? It shouldn’t matter to me. When I was finally able to let that go, it freed me.”The most anticipated MMA matchup of the summer is the headline bout on a stacked card, but Cormier is unable to take much satisfaction in this lucrative pinnacle of his career. The decisive loss to Jones in January 2015 remains the only blemish on Cormier’s record, and he has reigned atop the 205-pound division for two years since Jones’ title was stripped a few months afterward.Jones’ misdeeds are almost too long to list at this point, even when limited just to the trouble since 2014. He had a positive test for cocaine use around the time of their first bout, followed by an embarrassing hit-and-run accident in which a pregnant woman’s arm was broken, followed by another failed drug test revealed shortly before their scheduled rematch at UFC 200 and blamed on an erectile dysfunction medication.Cormier has lampooned and criticized Jones with each mistake, but only because he sees Jones making the mistakes that he has avoided. While Jones lives his madcap life, Cormier is a former Olympic wrestler with a late-blooming MMA career and a stable family existence in the Bay Area.ADVERTISEMENT OSG plea to revoke ABS-CBN franchise ‘a duplicitous move’ – Lacson Don’t miss out on the latest news and information. ‘I’m out!’: PewDiePie releases last video before taking break from YouTube Morris’ 88th minute goal gives US Gold Cup title If any fighter could teach Jones about the perseverance and steadiness necessary to forge a successful career with something besides spectacular athletic talent, it would be the man standing across from Jones in the UFC 214 cage on Saturday night.“If we weren’t what we are today, there are a lot of things that I could give to him, to help him be a better version of himself,” Cormier said with a rueful laugh.FEATURED STORIESSPORTSEnd of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legendSPORTSRedemption is sweet for Ginebra, Scottie ThompsonSPORTSMayweather beats Pacquiao, Canelo for ‘Fighter of the Decade’Instead, Cormier and Jones are locked in one of the greatest rivalries in MMA history, one featuring street-clothes scuffles, epic trash-talking and a pointed animosity that can only grow out of familiarity.More than 2 1/2 years after Jones beat Cormier to defend the light heavyweight title, Cormier is the champion heading into their rematch at Honda Center in Anaheim, California. End of his agony? SC rules in favor of Espinosa, orders promoter heirs to pay boxing legend Kawhi Leonard, Clippers rally to beat Pelicans “I can almost sympathize with Jon more today than I did before,” Cormier said. “Because I see all the traps, the excess — from girls to new friends. There’s just so much available to you that you don’t really want to be involved with. But I got it as a 36-year-old man. He was a 23-year-old kid, and then it just became a part of who he was. You’ve got to avoid those traps. I live in what’s important. My family, my training, my jobs.”When Jones blew his title shot and received a yearlong suspension last year, he also cost Cormier a great deal of money by forcing their bout’s cancellation. Anderson Silva agreed to be a late replacement, and Cormier did the only thing he could against one of his heroes: He pinned the Spider to the mat for most of their three rounds, earning an easy victory and boos from fans who have embraced Jones’ antihero ethos more than Cormier’s good-guy life.“I didn’t get here being stupid,” Cormier said. “There was no way to win in that situation, but I had to take the criticism for it.”Cormier finally has a way to win this Saturday, but he is an underdog. Jones still is widely considered the greatest fighter in the world, and he appears to be focused on regaining his belt.Their animosity hasn’t cooled, either. At their ceremonial faceoff Wednesday in downtown Los Angeles, a shirtless, chiseled Jones glowered at the smaller, suit-wearing champion.“I know what I’ve got to do,” Cormier said. “We finally have to have this moment. It’s time.”Sports Related Videospowered by AdSparcRead Next Marcosian mode: Duterte threatens to arrest water execs ‘one night’ LATEST STORIES 787 earthquakes recorded in 24 hours due to restive Taal Volcano Filipinos turn Taal Volcano ash, plastic trash into bricks PLAY LIST 01:40Filipinos turn Taal Volcano ash, plastic trash into bricks01:32Taal Volcano watch: Island fissures steaming, lake water receding02:14Carpio hits red carpet treatment for China Coast Guard02:56NCRPO pledges to donate P3.5 million to victims of Taal eruption00:56Heavy rain brings some relief in Australia02:37Calm moments allow Taal folks some respite LeBron James scores 31 points, Lakers beat Rockets Daniel Cormier lands a solid right to the face of Jon Jones during their fight at UFC 182 last January. AP FILE PHOTOBURBANK, CALIFORNIA—Daniel Cormier recognizes the cosmic paradox at the bottom of his bitter rivalry with Jon Jones.If anybody in the world could relate to the exact pressures and pitfalls faced by Jones over the past several years as a wildly successful mixed martial artist, Cormier would be that man.ADVERTISEMENT View comments McGregor blasts Cerrone in 40 seconds in UFC return Indian national gunned down in Camarines Sur MOST READlast_img read more