Galectin Therapeutics' (GALT) Abstract Accepted as Oral Presentation at AASLD Oct 1, 2014 01:46PM

Galectin Therapeutics Inc. (Nasdaq: GALT), the leading developer of therapeutics that target galectin proteins to treat fibrosis and cancer, today announced that the Company's abstract titled "Early phase 1 clinical trial results of GR-MD-02, a galectin-3 inhibitor, in patients having non-alcoholic steatohepatitis (NASH) with advanced fibrosis" was accepted as an oral presentation at The Liver Meeting, the 65th Annual Meeting of the American Association for the Study of Liver Diseases. The presentation will be made on Sunday, November 9, 2014 at 3:30pm Eastern Standard Time at the Hynes Convention Center in Boston, Mass.

Stephen A. Harrison, MD, Chief of Hepatology at Brooke Army Medical Center in San Antonio, Texas, will present the data during a session titled "Parallel 8: Novel Approaches in Diagnosis and Treatment in NAFLD and NASH." Dr. Harrison is a clinical trial investigator in Galectin Therapeutics' ongoing Phase 1 clinical trial of GR-MD-02 in NASH (fatty liver disease) patients with advanced fibrosis. The data presented will include the completed cohorts 1 and 2 of the Phase 1 trial and interim results of cohort 3.

According to Dr. Peter G. Traber, President, Chief Executive Officer, and Chief Medical Officer of Galectin Therapeutics Inc., "NASH with fibrosis is a significant unmet medical need for which effective therapies are limited. Acceptance of our data for an oral presentation at AASLD highlights the scientific and medical communities' deep interest in learning about new potential therapies for liver disease. We believe that GR-MD-02, our proprietary galectin-3 inhibitor, holds immense promise as a treatment option for fibrosis and inflammation."

The abstract is available at

Shiloh Industries (SHLO) to Acquire Radar Industries, No Terms Oct 1, 2014 01:31PM

Shiloh Industries, Inc. (NASDAQ: SHLO) today announced its acquisition of Warren, Michigan based, Radar Industries. The purchase leverages Radar Industries' tooling technologies, strong stamping capabilities, key customer relationships and expands Shiloh's existing manufacturing capacity to include Central Mexico and Michigan.

"Radar Industries is a perfect addition to Shiloh's strategic lightweighting portfolio," said Ramzi Hermiz, president and CEO, Shiloh Industries. "To broaden our best-in-class portfolio even further, we actively seek solutions that address industry pinch points, such as large tonnage stamping capacity and tool & die capability. This acquisition is another way for us to better service our growing global customer base."

The acquisition includes three metal stamping plants; two located in Warren, Mich. and the other in Celaya, Mexico. The deal includes a sales and technical center, also in Warren. Radar is comprised of approximately 325 workers in the U.S. and Mexico.

The automotive market in Central Mexico is experiencing rapid growth, both at the OEM and supplier level. It is estimated that light vehicle production in Mexico will expand by nearly one million units by 2017. Brad Tolley, Shiloh vice president, strategy and market development, further added that the time couldn't be better for the acquisition.

"Radar Industries has been a leader in metal forming and assembly, production design and engineering services," according to Dave Zmyslowski, president, Radar Industries. "My family and I are proud to have been part of growing the business started by my father nearly 60 years ago. We are looking forward to being part of the future success of Shiloh Industries."

Radar is known for its high-quality interior, chassis and powertrain components and a recognized leader in welding, including mig, tig, laser, projection and resistance.

"We remain focused on leading with technology and innovation and continue to strive for sustainable, profitable, global growth," added Hermiz. "The acquisition adds to our strong technology position, customer diversification and geographic needs by complementing our existing stamping, laser welding, aluminum and magnesium die casting footprint."

Chesapeake Lodging Trust (CHSP) Acquires JW Marriott San Francisco Union Square for $147.2M Oct 1, 2014 01:18PM

Chesapeake Lodging Trust (NYSE: CHSP) announced today that it has closed on the previously announced acquisition of the JW Marriott San Francisco Union Square for a purchase price of $147.2 million, or approximately $437,000 per key. The Trust assumed the existing management agreement with Marriott International, Inc., as well as the existing ground lease covering the property, which expires in 2083.

“We are delighted to close on the previously announced acquisition of the JW Marriott San Francisco Union Square and further expand our presence in the high-growth San Francisco market,” commented James L. Francis, President and Chief Executive Officer of the Trust. “We believe that San Francisco provides some of the strongest lodging fundamentals in the world and we are excited to grow Chesapeake’s footprint in this incredible marketplace to approximately 1,200 keys. The hotel’s excellent downtown, Union Square location and strong operating fundamentals make this acquisition an outstanding addition to our high-quality portfolio.”

The JW Marriott San Francisco Union Square is a 337-room “Quiet Luxury” brand offered by Marriott International. The iconic 21-story building sits on a prime corner location at Mason and Post in the heart of Union Square and features a 17-story atrium lobby. The hotel contains some of the largest accommodations in San Francisco, including 23 luxury suites that range from 600-1,500 square feet. Each guestroom contains a 42-inch flat screen television, Revive Collection bedding including pillow top mattresses, a Bose radio, wired and wireless HSIA, a generous work area with an ergonomic chair, and floor-to-ceiling marble encased four or five-fixture bathrooms with granite counters and separate tubs.

Guests arrive via the ground level porte-cochere to the first floor entry where a glass elevator transports them to the main lobby on the third floor. The spacious 17-story atrium lobby features guest registration and concierge services, a variety of comfortable seating groups, Level III Restaurant and Bar, and the large “Joie de Danse” bronze sculpture, which is the integral focal point of the lobby design.

Located on the third floor main lobby, the restaurant and bar were redesigned and introduced in 2008 as part of the lobby renovation. The open, flexible space benefits from the soaring atrium and is used as a catering venue for social events up to 175 guests.

The hotel has 12,445 square feet of highly flexible meeting and banquet space throughout 19 different meeting rooms. The diverse mixture of meeting space includes the Metropolitan Ballroom, well-appointed boardrooms and several breakout rooms on the 21st floor with views of the Golden Gate Bridge, and the Pacific Conference Center. The subterranean Pacific Conference Center is quickly becoming a favorite for law groups given its unprecedented level of security and privacy.

The JW Marriott San Francisco Union Square features a large fitness center which was renovated and expanded in 2012. A retail center offering everyday convenience items and healthy snacks is located on the third floor and the hotel also features a full-service business center offering a comprehensive level of services ranging from copy and fax to notary public and overnight delivery services. Parking is provided by valet service with unlimited in and out privileges via the 210-space below grade garage, which is leased to a third party.

“The hotel is in great condition following an approximate $25 million investment since its conversion to the JW brand in 2007,” continued Mr. Francis. “We have some exciting upgrades of our own planned in the coming years to keep this a market leading hotel in Union Square.”

Interactive Brokers Group (IBKR) September DARTs up 21% YoY; 17% MoM Oct 1, 2014 12:47PM

Interactive Brokers Group (NASDAQ: IBKR) reported that September DARTS were 577,000, up 21% from last year and 17% from last month.

The broker also highlighted:

  • Ending customer equity of $54.9 billion, 33% higher than prior year and 1% lower than prior month.
  • Ending customer margin loan balances of $17.3 billion, 36% higher than prior year and 4% higher than prior month.
  • Ending customer credit balances of $29.7 billion, 21% higher than prior year and 1% higher than prior month.
  • 272 thousand customer accounts, 18% higher than prior year and 1% higher than prior month.
  • 484 annualized average cleared DARTs per customer account.
  • Average commission per cleared customer order of $4.22 including exchange, clearing and regulatory fees. Key products:​
September 2014 Average Commission per Average
Cleared Customer Order Order Size
Stocks $2.27 1,981 shares
Equity Options $6.54 10.4 contracts
Futures $7.10 3.9 contracts

Wintergreen Advisers Comments on Coca Cola's (KO) Stewardship Guidelines Oct 1, 2014 12:31PM

Wintergreen Advisers today released the following statement by David Winters:

“Coca-Cola (NYSE: KO) has finally conceded that the equity compensation plan it put to a vote of shareholders in April was outrageously excessive and inconsistent with past plans. This has been Wintergreen Advisers’ publicly expressed view since we first read Coca-Cola’s proxy statement in March of this year. No amount of backtracking by the Coca-Cola board of directors can hide the fact that we believe it tried to sneak one by shareholders in Coca-Cola’s proxy materials and statements at the April shareholder meeting. Today's statement by Coca-Cola only calls into question the competence and leadership of the board of directors and management. Much more work has to be done to revitalize Coca-Cola and restore trust in the company.”

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