Microsoft to Take Stake in Barnes & Noble’s Nook Unit | Microsoft announced on Monday that it would invest $300 million in Barnes & Noble’s Nook division for a 17.6 percent stake. The deal values the e-reader business at $1.7 billion.
The move by Microsoft will help bolster the standing of Barnes & Noble’s fastest-growing unit. The bookstore giant had said earlier this year that it was exploring strategic options for the business, including a potential divestiture or strategic partnership.
The company has wagered heavily on the Nook, whose e-readers and tablets compete against Amazon’s best-selling Kindle devices in the hotly contested world of electronic books. Both companies are spending heavily to maintain a foothold in light of Apple’s success with the iPad. DEALBOOK »
Teetering, Dewey Ousts Former Chairman From Post | Dewey & LeBoeuf, the corporate law firm fighting for survival amid partner defections and heavy debt, ousted its former chairman from the firm’s management on Sunday and ended talks with a potential merger partner, according to an internal memorandum.
Steven H. Davis, the firm’s former chairman, was removed from his leadership posts amid a criminal investigation by the Manhattan district attorney focused on his conduct. On Friday, the firm’s management disclosed that state prosecutors had started an investigation into allegations of financial improprieties.
Mr. Davis did not return phone calls and e-mails seeking comment, but on Sunday he sent his partners an e-mail in which he defended his leadership of Dewey and said he was “saddened by the events of the past several days.” Both the internal memo and the e-mail were reviewed by The New York Times.
The US Environmental Protection Agency, which has determined the Passaic River to be a Superfund site, has been advised by the National Advisory Council for Environmental Policy and Technology (NACEPT), an advisory board established by the EPA, that the Cement-Lock process is suitable as a way to begin cleaning up the Lower Passaic River and Newark Bay.
Cement-Lock, a hazardous material treatment process developed with funding from the Department of Energy, permanently removes both organic and inorganic hazardous materials from the ecosystem by converting them to non-hazardous cement and electricity.
The cement material produced through the Cement-Lock process is called Ecomelt. Ecomelt, when blended with Portland cement, produces non-hazardous cement products that exceed the strength of Portland cement.
The Passaic River has been studied for over 20 years. Now, NACEPT has told the EPA it is time to stop studying the river and start cleaning it up.
“The demonstration of the efficacy of the Cement-Lock technology in New Jersey would encourage clean-ups in several parts of the United States where toxic pollutants are challenging the nation” says NACEPT.
The Cement-Lock process is being commercialized by Volcano Partners LLC. Al Hendricks, Chairman, said: “We are pleased with the recommendation by NACEPT. Toxic materials are polluting soil and groundwater across the country and Cement-Lock is a unique solution that permanently removes those hazardous materials from the ecosystem.”
“No other treatment technology today can compete with Cement-Lock’s ability to be a permanent, sustainable, and cost-effective hazardous material treatment solution that converts contaminated soils and sediments into beneficial use products, cement additives and electricity,” he claimed.