Compliance April 8, 2009

Newkirk Wins Patent Infringement Claim

A Boston federal court jury turned aside NewRiver’s patent infringement lawsuit against Newkirk.
Reported by

A Newkirk news release about the jury decision said NewRiver had contended that Newkirk’s EDGAR-View service infringed on a NewRiver patent that serves as the basis for NewRiver’s ProspectusExpress service.

According to the announcement, the jury found Newkirk had not infringed on any remaining valid claims and also rejected NewRiver’s position that Newkirk had breached an earlier contract between the two companies when Newkirk developed and sold its EDGAR-View service.

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“Naturally, we’re very pleased with the outcome,” said James Salada, Newkirk’s general counsel.

The Markets April 8, 2009

Utah Symphony&Opera Makes Salary, Benefits Cuts

The Utah Symphony&Opera is cutting its budget, including its 403(b) contributions.
Reported by

The symphony announced it will cut its operating budget by $1 million between now and 2010.

Salt Lake City’s Deseret News reports that, as part of the effort, US&O staff and administration will take a salary cut, and it has suspended its contributions to the 403(b) plan. In a statement, the organization said it is anticipating a shortfall by the end of this season, making cuts necessary, according to the news report.

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Melia Tourangeau, US&O’s president and chief executive officer, and music director Keith Lockhart will take a 10% pay cut for the rest of the 2008 to 2009 season. Additionally, the symphony musicians, who belong to the American Federation of Musicians Local 104, AFL-CIO, agreed to an 11.5% salary and benefit cut for this year, the newspaper said.

The musicians will also give up two weeks of pay, a week of vacation, and some personal days, according to the news report.

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