The Daily Record News Summary: July 10, 2008

Daily Record, The (Baltimore), Jul 10, 2008

MIPS OKs 22 research projects

The Maryland Industrial Partnerships program announced the approval of 22 research projects partnering Maryland companies with university researchers to develop high-tech products. Worth $3.6 million, the projects combine $1.8 million from participating companies and $1.8 million from MIPS, an initiative of the Maryland Technology Enterprise Institute at the University of Maryland. All funding goes to the university researchers. Eleven approved projects are in the field of biotechnology, three are in the area of homeland security and four are related to energy. For the list of projects and funding sources, go to www.mddailyrecord.com.

China health info online

Chindex International Inc., of Bethesda, a provider of Western health care products distribution and services in China, announced the launch of its non-commercial China travel health information Web site, China Health Watch. With a focus on numerous travelers to China for the 2008 Olympic games, the comprehensive Web site provides travel health tips, vaccination advice, health services, news and current health alerts for overseas travel to China.

Micros to purchase 2M shares

Micros Systems Inc., of Columbia, a provider of computer systems to the hospitality and retail industries, announced that its board of directors approved the repurchase of an additional 2 million shares of the company's common stock over the next three years. This follows the 2 million shares of common stock -- post split -- approved for repurchase by the board in November 2007, which has now been substantially completed. Shares will be purchased from time to time in the open market as business conditions warrant. The current stock buyback will take effect immediately, the company said.

iJet unveils telecom service

iJET Intelligent Risk Systems, of Annapolis, a provider of travel intelligence and customized travel services, announced the launch of Worldcue Critical Contact, a service that enables users to communicate seamlessly with employees via texting, phone and e-mail messages; request and track responses from employees; and initiate a conference call from the Worldcue platform. Critical Contact delivers voice messages to cell phones, VoIP phones, satellite phones and traditional land lines, and text messages to e-mail accounts, Blackberry handhelds, text-enabled mobile phones and other wireless devices.

Get healthy with leViv

leViv Inc., of Bethesda, a year-old consumer health company focused exclusively on nutrition and lifestyle programs for individual health, said it has launched five new programs that include 28 days of delicious, delivered food (two meals and two snacks per day -- over 110 items in every order), online recipes, health strategies, online communities, educational resources, professional advice, news, health information and more. leViv programs are designed to provide adults concerned with type 2 diabetes, cardiovascular disease, chronic kidney disease and prostate cancer with a convenient and nutritious monthly program aimed at affordably improving their health.

Power co-op to add wind

Old Dominion Electric Cooperative says it has signed an agreement with energy supplier AES Corp. to purchase wind-generated power. The cooperative is the primary power provider for 12 member electric distribution cooperatives in Delaware, Maryland and Virginia. It will buy energy output and renewable energy credits from AES's Armenia Mountain Wind Energy Project in Pennsylvania. Plans call for the first phase of the project to be completed in November 2009 and produce more than 100 megawatts of power. ODEC and Delmarva Power of Delaware will each purchase half of the project's output. The second phase is projected to boost the output to 140 megawatts.

Large industrial building sold

Exeter Property Group, a Pennsylvania private equity firm that focuses on industrial properties, purchased a 612,900-square-foot building at 7605 Dorsey Run Road in Jessup, for $40 million, or $65 per square foot, reports CoStar Group Inc., of Bethesda, a provider of information services to the U.S. commercial real estate industry. The seller was Baltimore Land Holdings LLC. The 2-year-old building, one of the largest industrial properties in the Baltimore- Washington corridor, is 30 percent occupied by Iron Mountain Inc., a Boston-based records management and storage provider, which leases 178,000 square feet.

Vanguard acquires Del. parcel

Vanguard Equities Inc., of Baltimore, a real estate development firm specializing in retail, announced it has acquired Dover Crossroads, a 25-acre parcel of land adjacent to the Dover International Speedway and the Dover Downs Hotel & Casino in Dover, Del. The company said it intends to develop the property as a 215,000-square-foot regional shopping center, and has secured Bed Bath & Beyond and The Christmas Tree Shops as anchor tenants. Site preparation and construction of Dover Crossroads will begin in August, with opening slated in the summer of 2009.