Saturday, June 20, 2009

Russia's Aeroflot says plans job cuts

MOSCOW, June 20 (Reuters) - Russia's Aeroflot (AFLT.MM) is planning job cuts to reduce costs during the downturn, Chief Executive Vitaly Saveliev said on Saturday, while another executive said the company had 30 percent more staff than needed. "We are prepared to reduce our personnel, but we are trying to do it in a considerate manner," Saveliev told reporters.
Sergey Aleksashenko, a member of the board of directors, said the company "has about 30 percent more employees than it needs."
Like many of its international rivals, Aeroflot is struggling to lower costs in response to declining passenger figures as consumers reduce air travel during the recession.
The airline, in which the state holds 51 percent, employs about 15,000 people.
Aleksashenko said the company could lay off pilots who fly Soviet-era planes such as the Tupolev-154 as it adds more Boeing (B.N) and Airbus (EAD.PA) aircraft to its fleet.
Separately, Interfax reported that Saveliev told shareholders at Saturday's AGM its Aeroflot Nord and Don regional units could go bankrupt.
He said both companies have until July 15 to draw up reorganisation plans and if they fail to do so Aeroflot's board of directors would discuss the possibility of bankruptcy.
Shareholders approved a 2008 dividend payout of 199.9 million roubles ($6.43 million), less than the 700 million rouble total payout recommended by the board in May. [ID:nL5718808] (Reporting by Anton Doroshev, writing by Alfred Kueppers; editing by Janet Lawrence)

New York City Couple Makes History This Weekend Becoming the First Bride and Groom Married in Zero Gravity

Zero Gravity Corporation Hosted First-Ever Weightless Wedding
On Saturday June 20, 2009, 6:01 pm EDT
Zero Gravity Corporation (ZERO-G�), the first and only FAA-approved provider of commercial weightless flights, hosted the world's first-ever weightless wedding on Saturday, June 20. Noah Fulmor and Erin Finnegan said their "I Dos" while flipping and floating mid-air among their closest family and friends. While flying high above the clouds in Florida, the New-York-City-based couple exchanged vows while making history -- as they became the first bride and groom to be married in zero gravity! Richard Garriott, the sixth private explorer in history to go to space and the first second-generation U.S. astronaut, officiated the weightless ceremony. G-FORCE ONE, ZERO-G's specially modified Boeing 727-200 aircraft, departed from the Titusville Airport near Orlando, FL for the milestone occasion.
"I am honored to be taking part in Erin and Noah's wedding. I know firsthand the added thrill microgravity will play in their already joyous event," said Garriott. "The excitement from these 'first ever microgravity nuptials' will not soon fade in the minds of all the members of the wedding party."
During the weightless ceremony, Fulmor and Finnegan along with their entire wedding party flew like Superman and flipped like an Olympic gymnast as Garriott united the two as man and wife. Each ZERO-G mission is designed for maximum fun and these nuptials were no exception. Over the span of nearly eight minutes, the vows and rings were exchanged in a microgravity environment.
Fulmor and Finnegan have been together since 2002, but even before they met, they shared a dream of space travel. As children, both wanted to be astronauts: Erin attended space camp in Michigan, while Noah volunteered at his local planetarium. Although they are currently living relatively earth-bound lives, the idea of space came up again following their engagement in 2008. "When we started talking about marriage, Noah joked that we should have our wedding 'in space,'" Erin said. "Although most girls would take this to mean Noah didn't want to get married, I knew he was sincere, and that this was a serious request." And so, the couple turned to ZERO-G for the next best thing: the experience offered by ZERO-G is the only commercial opportunity on Earth for individuals to experience true "weightlessness" without going to space.
The aircraft's interior is a zero-gravity playroom, complete with padded floors and walls and video cameras to record the unforgettable moments. When experiencing zero gravity, Fulmor, Finnegan and their guests enjoyed 10-times more hang-time than the world's best basketball player. It's not simulated; ZERO-G replicates the same levels of weightlessness enjoyed on Mars (1/3-gravity), the moon (1/6-gravity), and zero gravity. It's an experience unlike any other.
About ZERO-G
Zero Gravity Corporation is a privately held space entertainment and tourism company whose mission is to make the excitement and adventure of weightlessness accessible to the public. ZERO-G is the first and only FAA-approved provider of weightless flight to the general public, as well as the entertainment and film industries; corporate and incentive market; non-profit research and education sectors; and government.
For more information about ZERO-G, booking and reservations, will be traveling around the country, hosting its exclusive weightless flight experience in the following cities:

-- July 11 - San Jose, CA
-- July 18 - Las Vegas, NV
-- September 19 - Las Vegas, NV
-- October 3 - Washington, D.C.

Media Advisory: Raymond Bachand, Minister of Finance, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the M

Media Advisory: Raymond Bachand, Minister of Finance, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Montreal region to make an investment...
On Saturday June 20, 2009, 6:00 am EDT
(NYSE: CGT) (TSX: CAE) Raymond Bachand, Minister of Finance, Minister of Economic Development, Innovation and Export Trade and Minister responsible for the Montreal region, will make an announcement on Sunday, June 21, 2009, at 10 a.m. at the Montreal Science Centre, located at 2, rue de la Commune West in the Old Port of Montreal. He will be accompanied by Robert E. Brown, President and Chief Executive Officer, CAE.
About CAE
CAE (NYSE: CGT) (TSX: CAE) is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. With annual revenues exceeding C$1.6 billion, CAE employs more than 6,500 people at more than 75 sites and training locations in 20 countries. We have the largest installed base of civil and military full-flight simulators and training devices. Through our global network of 29 civil aviation and military training centres, we train more than 75,000 crewmembers yearly. We also offer modelling and simulation software to various market segments and, through CAE's professional services division, we assist customers with a wide range of simulation-based needs.
WHAT: News conference
WHO: Raymond Bachand, Minister of Finance and Minister of Economic
Development, Innovation and Export Trade and Minister responsible
of the Montreal region
Robert E. Brown, President and Chief Executive Officer, CAE
WHEN: Sunday, June 21, 2009 at 10 a.m.
WHERE: Montreal Science Centre
Panoramic Hall
2, rue de la Commune West
Old Port of Montreal, QC.
The Montreal Science Centre is located on King Edward Pier, in
the Old Port. The Pier is essentially the extension of Saint-
Laurent Boulevard, south of de la Commune Street.
Contacts:Roch Landriault
Cell.: 514-249-4537
Pascale Alpha
Director, Global Communications
Cell.: 514-833-3477

Nokia Siemens Networks Signs Agreement With Nortel To Purchase LTE and CDMA Assets

Planned acquisition will keep Canada at the forefront of next-generation wireless research and development; strengthen Nokia Siemens Networks in North America and LTE
ESPOO, Finland, June 20 /PRNewswire/ -- Nokia Siemens Networks has taken a significant step towards strengthening its leadership in Long Term Evolution, or LTE, next generation wireless technology and expanding its market presence in North America with an agreement to acquire key assets from Nortel.
The planned USD 650 million acquisition, which will bring together the highly complementary assets of the two companies in the field of mobile radio access, adds further key talent and resources to enhance Nokia Siemens Networks' existing strength and momentum in LTE. The acquisition of Nortel's profitable CDMA business would significantly improve Nokia Siemens Networks' presence in North America and make it a leading supplier of wireless infrastructure products in the region.
"This agreement provides an important strategic opportunity for Nokia Siemens Networks to strengthen its position in two key areas, North America and LTE, at a price that makes good economic sense," said Simon Beresford-Wylie, Chief Executive Officer of Nokia Siemens Networks. "It also represents stability for Nortel's existing customers and offers a great opportunity for employees to move into a stable future with an industry winner. The R&D organization in Canada would become a long-term wireless center of excellence within Nokia Siemens Networks, complementing our other global sites."
Existing Nortel and Nokia Siemens Networks customers welcomed the agreement. "Verizon views today's announcement as good news for the global wireless industry," said Dick Lynch, Executive Vice President and Chief Technology Officer of Verizon. "This deal brings together two important Verizon suppliers; we look forward to our continuing work with Nokia Siemens Networks."
"As Nortel's largest customer in Canada, Bell supports Nokia Siemens' plan to continue to foster Nortel's long history of research and development in Canada. Such ongoing technology development is of critical importance as Bell rapidly builds out our advanced next generation wireless networks across Canada," said Stephen Howe, Senior Vice President of Wireless Networks and Chief Technology Officer, Bell Mobility.
"This news eliminates industry uncertainty and enhances CDMA and EVDO, today and in the future. We at Sprint are pleased to have the support of a strong and stable supplier to continue to deliver reliable technology and services that our customers rely on every day," said Dan Hesse, President and Chief Executive Officer, Sprint Nextel.
"Bringing these assets of Nortel together with Nokia Siemens Networks is good for customers like TELUS and good for Canada," said Eros Spadotto, Executive Vice-President, Technology Strategy of TELUS. "As TELUS invests in building a next generation wireless network, we are pleased by Nokia Siemens Networks' strong desire to maintain a strong R&D presence in Canada, helping keep the country at the forefront of advanced wireless technology."
The transaction would see more than 2,500 Nortel employees - largely located in Ottawa, Canada and Dallas, United States but also including employees in Mexico and China - transferred to Nokia Siemens Networks. Approximately 400 of those employees are focused on LTE research and development, and would enhance the ability of Nokia Siemens Networks to provide innovation and strengthen its position in LTE, where it is already working with customers such as NTT Docomo in Japan. The support and development of Nokia Siemens Networks' existing product lines would be unaffected by this acquisition.
Export Development Canada (EDC), Canada's government-owned export credit agency, is supporting this transaction with a USD 300 million loan commitment. "We are delighted to have secured the backing of EDC for this transaction," said Luca Maestri, Chief Financial Officer of Nokia Siemens Networks. "Nokia Siemens Networks is committed to Canada as an important center of excellence for next-generation wireless technology."
Due to Nortel's restructuring process, the transaction is subject to the approval of the United States Bankruptcy Court and the Ontario Superior Court of Justice. Hearings by those courts to approve bidding procedures, break-up fee and expense reimbursement will be held on or before June 29, 2009, with final sale hearings expected on July 28, 2009 in the US and July 30, 2009 in Canada. Closing of the transaction, which is expected to occur in the third quarter of 2009, remains subject to customary closing conditions, including receipt of necessary regulatory approvals.
About Nokia
Nokia is a pioneer in mobile telecommunications and the world's leading maker of mobile devices. Today, we are connecting people in new and different ways - fusing advanced mobile technology with personalized services to enable people to stay close to what matters to them. We also provide comprehensive digital map information through NAVTEQ; and equipment, solutions and services for communications networks through Nokia Siemens Networks.
About Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler of telecommunications services. With its focus on innovation and sustainability, the company provides a complete portfolio of mobile, fixed and converged network technology, as well as professional services including consultancy and systems integration, deployment, maintenance and managed services. It is one of the largest telecommunications hardware, software and professional services companies in the world. Operating in 150 countries, its headquarters are in Espoo, Finland.
Engage in conversation about Nokia Siemens Networks' aim to reinvent the connected world at and talk about its news at
Find out if your country is exploiting the full potential of connectivity at
It should be noted that certain statements herein which are not historical facts, including, without limitation, those regarding: A) the timing of product, services and solution deliveries; B) our ability to develop, implement and commercialize new products, services, solutions and technologies; C) our ability to develop and grow our consumer Internet services business; D) expectations regarding market developments and structural changes; E) expectations regarding our mobile device volumes, market share, prices and margins; F) expectations and targets for our results of operations; G) the outcome of pending and threatened litigation; H) expectations regarding the successful completion of contemplated acquisitions on a timely basis and our ability to achieve the set targets upon the completion of such acquisitions; and I) statements preceded by "believe," "expect," "anticipate," "foresee," "target," "estimate," "designed," "plans," "will" or similar expressions are forward-looking statements. These statements are based on management's best assumptions and beliefs in light of the information currently available to it. Because they involve risks and uncertainties, actual results may differ materially from the results that we currently expect.
Factors that could cause these differences include, but are not limited to:
1) the deteriorating global economic conditions and related financial crisis and their impact on us, our customers and end-users of our products, services and solutions, our suppliers and collaborative partners;
2) the development of the mobile and fixed communications industry, as well as the growth and profitability of the new market segments that we target and our ability to successfully develop or acquire and market products, services and solutions in those segments;
3) the intensity of competition in the mobile and fixed communications industry and our ability to maintain or improve our market position or respond successfully to changes in the competitive landscape;
4) competitiveness of our product, services and solutions portfolio;
5) our ability to successfully manage costs;
6) exchange rate fluctuations, including, in particular, fluctuations between the euro, which is our reporting currency, and the US dollar, the Japanese yen, the Chinese yuan and the UK pound sterling, as well as certain other currencies;
7) the success, financial condition and performance of our suppliers, collaboration partners and customers;
8) our ability to source sufficient amounts of fully functional components, sub-assemblies, software and content without interruption and at acceptable prices;
9) the impact of changes in technology and our ability to develop or otherwise acquire and timely and successfully commercialize complex technologies as required by the market;
10) the occurrence of any actual or even alleged defects or other quality, safety or security issues in our products, services and solutions;
11) the impact of changes in government policies, trade policies, laws or regulations or political turmoil in countries where we do business;
12) our success in collaboration arrangements with others relating to development of technologies or new products, services and solutions;
13) our ability to manage efficiently our manufacturing and logistics, as well as to ensure the quality, safety, security and timely delivery of our products, services and solutions;
14) inventory management risks resulting from shifts in market demand;
15) our ability to protect the complex technologies, which we or others develop or that we license, from claims that we have infringed third parties' intellectual property rights, as well as our unrestricted use on commercially acceptable terms of certain technologies in our products, services and solutions;
16) our ability to protect numerous Nokia, NAVTEQ and Nokia Siemens Networks patented, standardized or proprietary technologies from third-party infringement or actions to invalidate the intellectual property rights of these technologies;
17) any disruption to information technology systems and networks that our operations rely on; 18) developments under large, multi-year contracts or in relation to major customers;
19) the management of our customer financing exposure;
20) our ability to retain, motivate, develop and recruit appropriately skilled employees;
21) whether, as a result of investigations into alleged violations of law by some former employees of Siemens AG ("Siemens"), government authorities or others take further actions against Siemens and/or its employees that may involve and affect the carrier-related assets and employees transferred by Siemens to Nokia Siemens Networks, or there may be undetected additional violations that may have occurred prior to the transfer, or violations that may have occurred after the transfer, of such assets and employees that could result in additional actions by government authorities;
22) any impairment of Nokia Siemens Networks customer relationships resulting from the ongoing government investigations involving the Siemens carrier-related operations transferred to Nokia Siemens Networks;
23) unfavorable outcome of litigations;
24) allegations of possible health risks from electromagnetic fields generated by base stations and mobile devices and lawsuits related to them, regardless of merit; as well as the risk factors specified on pages 11-28 of Nokia's annual report on Form 20-F for the year ended December 31, 2008 under Item 3D. "Risk Factors." Other unknown or unpredictable factors or underlying assumptions subsequently proving to be incorrect could cause actual results to differ materially from those in the forward-looking statements. Nokia does not undertake any obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.

CTS Electronics Manufacturing Solutions Selected for Long-Term Manufacturing Contract by Coulomb Technologies, Inc.

Providing Smart Electric Vehicle Charging Solutions for the Transportation Industry
June 20, 2009
ELKHART, Ind.--(BUSINESS WIRE)--CTS Corporation (NYSE: CTS) a leading supplier of electronics manufacturing services, was awarded a new three-year manufacturing contract by Coulomb Technologies, Inc., the leading provider of networked charging stations for plug-in vehicles.
CTS Electronics Manufacturing Solutions (CTS EMS) will become the prime supplier of manufactured products from design support, NPI and development, to high level assembly for ChargePoint™ Networked Charging Stations for electric vehicles. Fulfillment and production support are planned from CTS’ facilities in U.S., Europe and Asia with production beginning in mid-2009. Revenues are expected to reach approximately $19 million over the program period.
Starting in late 2009, major OEMs are expected to introduce new alternative energy plug-in vehicles across Europe, North America and Asia. The anticipated demand and growth for these electrified vehicles will help reduce the cost of transportation fuel, greenhouse gas emissions and dependency on foreign oil.
About CTS
CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical, defense and aerospace and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS.”
Safe Harbor Statement
This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events and any other statements that are not based solely on historical fact. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and are based on various assumptions as to future events, the occurrence of which necessarily are subject to uncertainties. These forward-looking statements are made subject to certain risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements, including, without limitation: changes in the economy generally and in respect to the businesses in which CTS operates, including those resulting from the current global financial and credit crisis; pricing pressures and reduction in demand for CTS’ products, especially if economic conditions do not recover or continue to worsen in CTS’ served markets, including but not limited to: the automotive, computer equipment or communications markets; disruption, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged by CTS and the availability and cost of credit in the future; the financial condition of our customers, including the ability of customers (especially those that may be highly leveraged and those with inadequate liquidity) to maintain their credit availability or ongoing viability; the Company’s successful execution of restructurings and profit improvement plans; risks associated with CTS’ international operations, including trade and tariff barriers; currency fluctuations and their effects on our results of operations and financial position; changes in performance of equity and debt markets that could affect the valuation of the assets in CTS’ pension plans and the accounting for pension assets, liabilities and expenses; political and geopolitical risks; rapid technological change in the automotive, communications and computer industries; reliance on key customers; and CTS’ ability to protect its intellectual property. CTS undertakes no obligation to publicly update its forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.
CTS Corporation
Donna L. Belusar, Senior Vice President and
Chief Financial Officer
Mitchell J. Walorski, Director Planning and
Investor Relations
FAX 574-293-6146

Braxton CEO Frank Backes Named Ernst & Young Entrepreneur Of The Year® 2009 Award Winner in the Rocky Mountain Region

Award Recognizes Entrepreneurial Excellence in Services Category
On Friday June 20, 2009, 6:49 pm EDT
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Braxton Technologies, LLC, a command and control products and services company headquartered in Colorado Springs, Colorado, today announced that CEO Frank Backes received the Ernst & Young Entrepreneur Of The Year® 2009 Award in the Services category in the Rocky Mountain Region. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Frank Backes was selected by an independent panel of judges, and the award was presented at a gala event at the Grand Hyatt in downtown Denver on June 18, 2009.
Braxton Technologies has long recognized the power of entrepreneurism to shape the world. “From its beginning, Braxton has been the embodiment of the entrepreneurial spirit. The company was founded to help customers accomplish their missions better, faster, smarter,” Backes explains. “Braxton’s success is proof that commercial software can be relied on in critical mission systems, filling in gaps when programs suffer major schedule slips or competing outright against more risky and more complex custom system development.”
“Braxton people make the difference,” Backes continues. “Our focus on community growth, innovation and education has been key to building our staff of committed, caring and talented individuals who want to help us build relationships and who go the extra mile every time.”
The Ernst & Young Entrepreneur Of The Year awards celebrate their 23rd anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.
“We are proud to recognize the achievements of Frank Backes,” said Jim Wilson, Ernst & Young LLP Entrepreneur Of The Year Program Director for the Rocky Mountain Region. “Winners of the Entrepreneur Of The Year award build leading businesses and contribute significantly to the strength of our region’s economy. Their success helps our area grow stronger.”
As a Rocky Mountain Region award winner, Frank Backes is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2009 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California, on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
In the Rocky Mountain Region, sponsors include Faegre & Benson, Clifton Gunderson LLP, LeGrand Hart and The Denver Business Journal.
About Braxton Technologies
Braxton Technologies, LLC, provides products and professional services for government and commercial applications. Global Positioning System (GPS) launch, early-orbit and disposal command and control functions are currently performed by Braxton’s ACE Premier™ product suite. ACE Premier™ includes configurable applications, tools, and simulators that dramatically reduce cost and accelerate deployment of command and control systems. Braxton is headquartered in Colorado Springs, Colorado.
About Ernst & Young’s Entrepreneur Of The Year® Awards Program
Ernst & Young’s Entrepreneur Of The Year® Award is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year® award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Photos/Multimedia Gallery Available

Braxton Technologies, LLC
Julie Willis, 719-380-8488
Cell: 719-330-5585