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

Carroll targets successive successes

first_img Press Association “You could see when I scored everyone was celebrating. And everyone was sliding in with last-ditch tackles at the end. We needed the three points. “It was good for us to get the win. It will be good for all the lads to get a rest in a rest now and hopefully we can get three points at the end of it.” Hammers boss Sam Allardyce was full of praise for Carroll following his typically bruising display against the Swans. He proved to be the perfect foil for Kevin Nolan, offering the forward two good goalscoring opportunities with knock-downs from long balls. Allardyce had been reluctant to start Carroll after such a long lay-off, but the striker had no qualms about playing the whole 90 minutes. “I’ve had eight weeks off and I’ve been working hard in the gym so my fitness is still high,” he added. “All the physios and backroom staff have been helping a lot to keep me fit in the gym when I couldn’t run. Obviously it showed with getting 90 minutes. It felt good. We got three points and I got the goal, so it was great.” Carroll made a successful return from a nine-week injury lay-off on Saturday, heading the Hammers to a much-needed 1-0 win over Swansea at Upton Park. “The points had dried up a bit so the lads are delighted with the win today,” Carroll told West Ham TV after the match. center_img Andy Carroll fired West Ham to their first victory since New Year’s Day and then targeted three more morale-boosting points against Aston Villa.last_img read more

Update on the latest sports

first_img Share This StoryFacebookTwitteremailPrintLinkedinRedditNFL-SUPER BOWLThe big day has arrivedMIAMI (AP) — It’s time to crown the NFL champion. Update on the latest sports Djokovic tops Thiem, wins 8th Australian titleMELBOURNE, Australia (AP) — Novak Djokovic (NOH’-vak JOH’-kuh-vich) has won a record-extending eighth Australian Open championship, beating Dominic Thiem (teem) 6-4, 4-6, 2-6, 6-3, 6-4. No other man in the history of tennis has won this tournament more than six times.It’s the 17th Grand Slam title for Djokovic, who has five titles from Wimbledon, three from the U.S. Open and one from the French Open. Only Roger Federer, with 20, and Rafael Nadal, with 19, have won more men’s Grand Slam singles trophies.Djokovic’s victory means he will return to No. 1 in the rankings, replacing Nadal.Thiem was appearing in his third major final. He has lost them all. Irving had his highest-scoring game of the season the previous night, scoring 54 points in a victory over Chicago.The Nets said Irving will be re-evaluated in a week. He will miss at least home games against Phoenix and Golden State — whose point guard, D’Angelo Russell, he replaced on the Nets — as well as a game at Toronto.Irving previously missed 26 games in his first season in Brooklyn with a right shoulder injury. He also sat out one after returning with hamstring tightness and didn’t play last Sunday after learning of Kobe Bryant’s death while preparing to face the New York Knicks.PGA-PHOENIX OPEN-KOBE BRYANTPGA Tour remembers Kobe Bryant with 16th-hole pin position The San Francisco 49ers are set to take on the Kansas City Chiefs in the Super Bowl.The 49ers are going for their sixth Vince Lombardi Trophy, which would tie the record shared by Pittsburgh and New England. The 49ers also are looking to be only the second team to go from 4-12 the previous season to the top of the heap. They haven’t won it all since the 1994 season.The Chiefs are making their third appearance in the Super Bowl, a name their founder Lamar Hunt came up with. But it’s their first time back since 1970, when they beat the Minnesota Vikings in the fourth Super Bowl, the final AFL-NFL matchup. The leagues merged the following season.Game time is 6:30 p.m. Eastern at Hard Rock Stadium in Miami Gardens.TENNIS-AUSTRALIAN OPEN Brignone wins super-G in overall leader Shiffrin’s absenceROSA KHUTOR, Russia (AP) — Federica Brignone (feh-deh-REE’-kah breen-YOH’-nay) won a women’s World Cup super-G after overall leader Mikaela Shiffrin sat out the race on Sunday, strengthening her runner-up position in the standings.The win left the Italian 270 points short of Shiffrin’s leading tally.The American three-time overall champion decided to skip the races in the 2014 Olympic resort after winning the previous super-G and a downhill in Bulgaria a week ago.Shiffrin, who won the super-G world title and discipline standings last year, was not the only top contender to sit out this weekend’s races. Slovakia’s Petra Vlhova and Italy’s Marta Bassino also refrained from traveling to Russia.center_img February 2, 2020 Associated Press SCOTTSDALE, Ariz. (AP) — The PGA Tour joined players with a 16th-hole tribute to Kobe Bryant on Sunday at the Waste Management Phoenix Open, using his two Lakers uniform numbers to cut the final-round pin position on the stadium par 3.The pin was placed 24 yards from the front edge and 8 yards from the left edge, putting it in the back left corner of the green on the rowdy hole that holds more than 20,000 fans.Bryant, daughter Gianna and seven others were killed a week ago in a helicopter crash in California.Third-round leader Tony Finau (FEE’-now) and fourth-ranked Justin Thomas have donned Bryant jerseys on the hole. Finau birdied it Friday and Saturday wearing a yellow No. 8 Lakers jersey. Thomas has worn a white No. 33 Lower Merion High School jersey, selecting it over a Lakers jersey that he also brought from his collection.WORLD WCUP-WOMEN’S SUPER-G NBA-NETS-IRVING OUTKyrie Irving out at least a week with right knee sprainNEW YORK (AP) — Kyrie Irving will miss at least a week with a sprained medial ligament in his right knee.The Brooklyn Nets star had an MRI exam Sunday that confirmed the team’s diagnosis after he was injured Saturday in Washington.Irving got hurt in the fourth quarter of a 113-107 loss, when he and Wizards guard Bradley Beal got tangled battling for a loose ball and Irving’s knee twisted as he landed on the court. He stayed down for a couple minutes before remaining in the game for the jump ball — in which he didn’t jump — and then left the court and went to the locker room.last_img read more