Ruckus Wireless prices IPO at high end of range: market source
















(Reuters) – WiFi products maker Ruckus Wireless Inc priced its initial public offering at $ 15 per share, the high end of its expected price range, a market source told Reuters.


The company, which is backed by Google Inc‘s Motorola Mobility LLC and venture capital firm Sequoia Capital, raised $ 126 million by selling 8.4 million shares.













Ruckus offered 7 million shares while selling shareholders, including Telus Corp, offered 1.4 million shares.


The Sunnyvale, California-based company, which makes wireless LAN products for both indoor and outdoor use, competes with Meru Networks Inc and Aruba Networks Inc.


The company’s customers include Time Warner Cable Inc, Towerstream Corp, Tikona Digital Networks and Bright House Networks.


Goldman Sachs & Co and Morgan Stanley are the lead underwriters to the offering.


The company’s shares are expected to begin trading on the New York Stock Exchange on Friday under the ticker symbol “RKUS”.


(This story was fixed to correct description of Sequoia Capital to venture capital firm in paragraph 2)


(Reporting by Sharanya Hrishikesh and Ashutosh Pandey in Bangalore; Editing by Sriraj Kalluvila)


Wireless News Headlines – Yahoo! News



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Watchdog groups question tourism agency’s CEO pick




















The day after the CEO of the state’s top tourism agency announced he was stepping down, board members quickly handpicked his replacement.

There was only one problem. Picking Visit Florida’s chief marketing officer Will Seccombe to head the agency without doing a national search could upset the agency’s main funders — state legislators and Gov. Rick Scott.

Visit Florida’ solution: give a recruiting firm a no-bid, $45,000, two-month contract to conduct a nationwide CEO search. The firm, Minnesota-based Searchwide, just happened to be the same one that brought in Seccombe five years earlier.





Now, a state watchdog group is slamming the agency's recruiting process, saying it suggests either favoritism, government waste, or both.

The developments highlight the awkward relationship between Visit Florida's board and elected state officials who control so much of the agency's budget. While the board appears set to hire Seccombe, its handling of the transition process could lead to more scrutiny from the very lawmakers who control the agency's purse strings

“Visit Florida claims to be an equal opportunity employer, but it appears they have rigged their hiring process to unfairly benefit the acting president,” said Dan Krassner, executive director for Integrity Florida, which advocates for tougher ethics laws, and is now questioning whether the swift recruiting process is completely open and fair.

Searchwide, which signed the contract on Oct. 5, did not respond to requests for comments. The agency is expected to complete its nationwide search by early December.

Experts in the field of executive talent recruitment say that such a short period is abnormal for a national CEO search.

“That’s a really aggressive timetable,” said Theresa Rohr, senior associate at Stanton Chase International, a global executive search firm with offices in San Francisco. “For a CEO, very aggressive.”

While Searchwide is a top name in the hospitality industry, Visit Florida has used it only once before: to recruit Seccombe in 2007.

Visit Florida’s former CEO, Chris Thompson, who left in October to head up a national tourism agency, defended the decision to give the contract to Searchwide. While Seccombe may have an advantage as an “incumbent,” all candidates will be considered, he said.

He pointed out that Searchwide also had been retained by Visit Orlando for an executive search this year.

“It is absolutely in no way, shape or form going through the motions,” Thompson said. “It is a legitimate search.”

But Visit Orlando offers a useful comparison. The Central Florida tourism agency hired Searchwide to do a national search for a CEO back in May. A spokesman said the organization doesn’t expect the process to be completed until January. Several other companies that have contracted with Searchwide have given the company more than six months to complete a national search.

When Thompson announced he was leaving, some board members, in an emergency meeting, quickly decided to promote Seccombe to the $225,000-a-year CEO position.

Doing so would allow the state-funded agency to have a permanent CEO in place before Scott and the Legislature began making crucial decisions about how much taxpayer money the organization should get next year.

“I don’t think we need to put the time, money and effort into a nationwide search,” said John Perez, a hotel executive who sits on Visit Florida’s board. “I think we have a very competent replacement for Chris, in Will, already in place.”

But some board members were concerned about the perception of appointing a new CEO without consulting the Legislature or conducting an official search — something they believed Scott, Florida’s businessman-turned-governor, would expect.

Visit Florida relies on the Florida Legislature for a large chunk of its operating revenue. The public-private organization bolsters its budget with free advertising from private partners, but its cash revenue is overwhelmingly taxpayer-funded. That means the Legislature and governor hold sway over the future finances of the organization.

Visit Florida has been a darling of Scott and the Legislature in recent years. As most state agencies weathered drastic budget cuts in the last two years, Visit Florida saw its taxpayer funding more than double to $54 million.

At least one Visit Florida board member said the Legislature feels it should have a say in how the agency conducts because of lawmakers’ generosity.

“I think if we’ve all learned anything from our past, it is that there is a certain entitlement from the Legislature because there’s so much funding that they now allow us to have,” said Carol Dover, president of the Florida Restaurant and Lodging Association.

The organization should “dot all our I’s and cross all our T’s” before appointing Seccombe as CEO, she warned.





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Concert tells tale of a ‘Tough Turkey’




















Orchestra Miami will present a series of free family concerts, designed to introduce young children to classical music. At 7 p.m. Friday , the orchestra will perform "Tough Turkey in the Big City: A Thanksgiving Odyssey," by Bruce Adolphe and Louise Gikow at Miami Shores Presbyterian Church at 602 NE 96th St.

At 1:30 p.m. Saturday the orchestra will bring the concert to the North Dade Regional Library at 2455 NW 183rd St. in Miami Gardens.

The story behind the music is what happens when a turkey from the sticks meets a Park Avenue pigeon? Tough Turkey... follows the comic blunders of Tom Turkey, who leaves the farm to try his luck in the big city. The story is told to the audience by a narrator and illustrates a close call with a menacing chef, a tussle at the "Turkey Club," a brief romance with a pigeon, and a happy mix up at the Thanksgiving Day Parade. Tom is portrayed by the bass trombone and his barnyard friends by the violin and clarinet.





The two concerts are sponsored in part by the Miami-Dade Public Library System. In the spirit of Thanksgiving, children are asked to bring canned goods to be donated to local food banks.

Handbell choir

Some sacred music seems all the more beautiful when the choir is accompanied by a handbell choir, and on Saturday (Nov. 17) churches with handbell choirs and individual ringers are invited to a workshop to be from 9 a.m. to 2:30 p.m. at Grace Lutheran Church, 254 Curtiss Pkwy. in Miami Springs.

The workshop is sponsored by the Miami Chapter of the Amrican Guild of Organists and will be conducted by Maryann Tobin.

A free lunch will be provided and following the workshop, the ringers will perform a short concert.

For more details call the church before 1 p.m. weekdays at 305-888-2871.

‘TED’-style lectures

Rabbi Mitchell Chefitz will continue the monthly "TED"-style lecture series at 10 a.m. Sunday in the board room of Temple Israel of Greater Miami 137 NE 19th St. The talk is entitled, "Blessings and Prayers That Work in Real Time."

Just in case you don’t know, the rabbi said TED is the acronym for Technology, Entertainment, Design, an online collection of thought- and soul-provoking talks on a wide range of topics, given by some of the world’s most innovative thinkers, Chefitz is a TED fan and in his talks, which he calls "Moshe Talks," he has put a Jewish spin on the concept with a four-part series of TED-style discourses he said he wished he’d heard to enhance his own Jewish education.

"I regret I never heard these talks," said Chefitz, a bestselling author and scholar-in-residence at Temple Israel. "But now, 40 years later, I know how to give them."

The series which began Oct. 14, will run through January. The event is open to the community and is free. For more information call the temple at 305-573-5900 or email info@templeisrael.net.

‘Five Keys to Health’

The public is invited to a free health lecture presented by Dr. Matthew Westrich, at 7 p.m. today in the fellowship hall at Silver Palm United Methodist Church, 15855 SW 248th St. Westrich will speak on the topic, "Five Keys to Health." Attendees are asked to bring a can of food in support of the church’s Family Food Ministry, which provides food weekly on Fridays to the families of children attending Redland Elementary and Middle Schools.

Call Margaret Cross at 305-255-5894 for more information.





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RIM CEO sees new BlackBerry powering growth
















WATERLOO, Ontario (Reuters) – A new line of BlackBerry 10 devices will provide Research In Motion with a framework for growth over the next decade, offering long-term value for unhappy shareholders, Chief Executive Thorsten Heins said on Wednesday.


In an interview with Reuters, Heins said RIM had identified $ 800 million of the $ 1 billion of savings it promised for the financial year ending in early March, and was confident of finding the rest as it gets ready to launch the new phones.













RIM is betting that the new smartphones will help it claw back the market share it has lost to the likes of Apple Inc’s iPhone and devices powered by Google’s Android operating system.


Both consumers and corporate customers have abandoned the BlackBerry in droves, even though the devices offer security features that rivals have been unable to match.


“There’s this high-level security that you cannot walk away from, and then there’s ‘good enough’ security,” Heins said in an interview at RIM’s Waterloo, Ontario, campus, a sprawl of low-rise buildings.


But analysts remain skeptical, especially after the botched 2011 launch of RIM’s PlayBook tablet computer, which the company had hoped would compete with Apple’s wildly popular iPad. The PlayBook had top-of-the-line hardware, but its software was far from complete at the launch and needed multiple updates.


RIM delayed the roll-out of the BlackBerry 10 phones to the first quarter of 2013 so as not to repeat the errors that surrounded the PlayBook launch.


Heins said the delay was the correct decision – the way to ensure the BB10 phones are a high-quality product rather than a rushed one that would not meet customer expectations.


“I think it’s all lining up. Sometimes you get the feeling that the universe is in disarray, and with BlackBerry 10 coming, I see the stars lining up,” Heins said.


SLEEK DEMO MODELS


Sleek demo models of the new phones look much like the high-end smartphones in the market today, and company executives proudly showed off a touch-screen version and a version with the miniature QWERTY keyboard popular with many BlackBerry users.


Users flick a thumb or finger to maneuver from one program to another and can sneak a look at an incoming email while browsing the Internet or using other applications, a multi-tasking ability that RIM says rival devices lack.


Personal and business profiles can be kept separately, something RIM calls BlackBerry Balance. Corporations can erase only their share of the data on a device if they need to do so for security reasons, leaving personal photos, contacts and emails untouched.


The app library available at launch will not match the vast number available on other devices. Heins said RIM had chosen to focus on providing those apps needed in different regional markets. It expects some 100,000 apps to be ready at launch.


The developer community has been broadly enthusiastic about the devices. But financial analysts have mixed views on their likely reception in an ultra-competitive market.


Pacific Crest analyst James Faucette warned last week that BlackBerry 10 is likely to be dead on arrival – with an operating system that gets “a lukewarm response at best,” due to the unfamiliar user interface and a shortage of apps.


SHAREHOLDER VALUE


Heins insisted morale was high at the company, despite 5,000 job cuts and a rapidly sliding market share ahead of the launch of the new phones.


RIM’s share price is down more than 90 percent from a 2008 peak of about $ 148. It has fallen even after Heins, a former Siemens AG executive, took over in January. The shares on Wednesday closed at $ 8.49 on Nasdaq.


“The message to our shareholders is that we understand this is and has been a difficult time for them and for us,” the tall, bespectacled CEO said. “But with the development of the BlackBerry 10 platform we are truly convinced that we will create long-term value for RIM’s shareholders and investors.”


RIM has already given the demo phones to developers and to carriers, and its new BlackBerry Enterprise Server 10, which runs the devices on corporate networks, is in beta testing with 20 key customers — both government agencies and corporates.


Next month, the company will give more than 50 top enterprise customers technical previews of both BES 10 and the devices.


Heins said the feedback he is getting from the customer base “is very encouraging.”


With the erosion of RIM’s base particularly strong in North America, there has been speculation the company could choose to launch the new phones in a region where the phones remain popular. Heins said that would not be the case.


“We cannot launch every carrier and every country on the same day, but what we have defined is a set of waves in the various regions,” he said. “It is going to be a global launch. There isn’t one preferred region. We are managing and planning it as we speak.”


(Reporting by Euan Rocha and Janet Guttsman; Editing by Frank McGurty and Leslie Adler)


Wireless News Headlines – Yahoo! News



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Ellen Throws Keira Knightley a Bridal Tea Party

In light of Keira Knightley's engagement to Klaxons keyboardist James Righton, Ellen DeGeneres has a refined surprise for British actress on her next show.

PIC: Knightley 'Doesn't Mind' Going Topless

The TV host throws Knightley a bridal tea party as a celebration of her upcoming wedding, which the Anna Karenina star admits she hasn't put much thought into.

"The problem is ever since [our engagement] everyone keeps going, 'So when is it going to happen and what's they dress like?'" explains Knightley, who announced her engagement in May. "I'm just not one of those girls that's had the kind of fantasy wedding thing, so we haven't planned anything and it's all quite terrifying and I sort looked up on the Internet, 'if you're getting married what should you do?'"

RELATED: Knightley Engaged to Indie Rocker

In addition to her future nuptials, Knightley also discussed her topless Allure cover, which came out to her liking.

"I know that sometimes you have not been happy with the way your breasts have appeared in certain things and you're happy with this?" Ellen asked.

Knightley responded, saying that she sometimes doesn't appreciate the alterations made in past shoots to make her breasts seem bigger.

"You know, I'm happy with them -- with the size they are," said Knightley. "I'm alright with it unless they make them really droopy. Then I kind of think, 'Okay, if you're going to invent that fact that I have big t--s any way, could they at least be perky ones?' It seems a little unfair to go from nothing to a big droop. So that's when I get quite unhappy about it."

Catch Knightley's entire interview Thursday, November 15 on The Ellen DeGeneres Show. Check your local listings.

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Base boot for general busybody








The social-climbing military groupie at the center of the David Petraeus sex scandal has been banned from MacDill Air Force Base.

Jill Kelley — who played unofficial hospitality hostess to Gen. Petraeus, Gen. John R. Allen and a stream of top military brass at the powerful Tampa, Fla., Central Command base — lost her unfettered base access after her claims that she had received threatening e-mails from Petraeus’ mistress, Paula Broadwell.

“She did have base access but does not currently because of her involvement in an ongoing investigation,” a military official told the Tampa Tribune.





FASHION PLATE:David Petraeus pal Jill Kelley (above) hobnobbed with top brass at MacDill Air Force Base in Florida and flaunted her honorary “diplomatic” status.

Getty Images





FASHION PLATE:David Petraeus pal Jill Kelley (above) hobnobbed with top brass at MacDill Air Force Base in Florida and flaunted her honorary “diplomatic” status.





The vivacious Kelley — who met Petraeus and his wife, Holly, when the general arrived at Central Command in 2008 — was allowed to travel around the base under a “Friends of MacDill” program for high-profile locals.

Kelley acted as the base’s unpaid “social liaison,” and with her surgeon husband, Scott Kelley, hosted glamorous parties with string quartets, free-flowing champagne and lavish food spreads. Their guests were a parade of military brass.

Kelley also was a “self-appointed” go-between for Central Command officers with Middle Eastern government officials, according the Washington Post.

One officer told the Washington Post that Kelley’s “made-up” titles appeared to be “a polite way of saying ‘rich Tampa socialite who likes to hang with four-star generals.’ ”

Kelley is also an honorary consul general of South Korea, a symbolic post that means she helps set up meetings between Tampa businessmen and South Korea’s US ambassador.

The Philly-born daughter of Lebanese immigrants embraced her role — and got a specialized license plate for her Mercedes that reads: “Honorary Consul 1JK.”

Officials are investigating how Kelley qualified for the plate. Applicants must show they are members of the Honorary Consular Corps to receive one, a state DMV spokesperson said.

Kelley made several calls to police this week regarding the media outside her $1.5 million waterfront manse.

“You know, I’m an honorary consul general, so I have inviolability,” Kelley said in one call. “I don’t know if you want to get diplomatic, uh, protection involved as well.”

jeane.macintosh@nypost.com










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Steve Wozniak, Chris Hughes share tales with Coconut Grove audience




















Co-founders from two of Silicon Valley’s most innovative companies gave a South Florida audience a glimpse into the early days of developing the technology that would reshape the world.

Steve Wozniak, of Apple, and Chris Hughes, of Facebook, were back-to-back speakers for the three-day Americas Business Council’s Continuity Forum that wrapped up Wednesday at the Ritz-Carlton in Coconut Grove.

The conference brought together innovators, activists, and thought leaders in entrepreneurship and philanthropy and also showcased 32 emerging social entrepreneurial ventures from around the Americas.





On Wednesday afternoon, both men relayed plenty of stories.

As a teenager, Wozniak used to hole up in his bedroom on the weekends, designing a computer on paper.

And he made a game of it — every weekend he would try to make a machine that would work just as well or better but cost a little less than the last design.

That engineering mentality to build things more efficiently as well as the desire to learn never left him, he told the audience. “I would buy my college books on a Friday and be halfway through before the first class on Monday.”

Then he met Steve Jobs, and began working with him on a variety of projects. “Steve Jobs was a hippie with no money. I was an engineer with no money. We had to think creatively. I designed projects for fun, and he would figure out how to make money,” Wozniak recalled as he told how he invented the Apple I and Apple II that started it all and the company’s ups and downs through the years. He called the iPhone the greatest product ever.

As one of the Facebook co-founders that lived in the famous Harvard dorm room, Chris Hughes said the movie The Social Network got a lot of things wrong.

“Our dorm wasn’t like a luxury condo, there was no sex in the bathroom, as far as I know. An alcohol-fueled hackathon, while it looked like a lot of fun, didn’t happen.”

Hughes told the real story of Facebook and described his roommate Mark Zuckerberg as “highly analytical and very skeptical of conventional wisdom.” What the movie did get right, Hughes told the crowd: “Facebook is the defining example of American ingenuity and entrepreneurship of the 21st century.” And at the core: “There’s a new universal respect for the entrepreneur.”

Hughes, now owner and publisher of The New Republic, also talked about his current passion: How to use mobile and social technologies to support serious long-form journalism into the 21st century.

“Conventional wisdom says this kind of journalism isn’t sustainable. Cynics say the golden age of journalism has past,” said Hughes.

Yet, over the past six months Hughes said it is the long, in-depth New Republic stories that have gone viral.

“Folks are reading just as much news today, if not more. ... We have an opportunity to deliver it across a limitless number of devices. [These trends] all come together to suggest … we are entering a true golden age of journalism.”





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Metrorail worker who was struck and killed by train identified




















George Andrews, a Miami-Dade Transit employee who was killed Monday near Earlington Heights station when a moving train struck him, was walking on the tracks after parking his train on a side track because it had been malfunctioning, the director of MDT, Ysela Llort, said Tuesday.

“He had a train that was not functioning correctly and central control told him to park the train in what we call a pocket, north of Earlington Heights. He then was walking back to the station and was 30 yards from the station.”

Llort declined to give further details saying the case is still under police investigation. Miami-Dade police detectives, who are investigating the incident, said they will not provide all details until the investigation is completed.





Jeffrey Mitchell, vice president of the Transport Workers Union Local 291, which represents Metrorail operators, said walking on the track after parking a disabled train is normal procedure for MDT. What is unclear, he added, is why the train hit Andrews while he walked on the track.

A train operator who parks a train on a side track and then begins to walk on the track must advise his position to central control and technicians there must warn all trains, said Mitchell.

"The problem is that the trains are not like cars," said Mitchell. "The operator of the train that hit him may have seen him on the track, and may have applied the brakes immediately, but the train does not stop immediately."

Llort's explanation of the incident departs from the original explanation released by county police.

“According to investigators, the decedent, a Miami-Dade County Transit employee, was working on the Metrorail tracks when he was struck by the moving train. He died on the scene,” the police statement said Monday.

According to Llort, Andrews was operating a Green Line train between Dadeland South station and Palmetto station when the tragedy occurred.

Llort said Andrews was a highly valued employee of MDT. He was 47 and would have turned 48 on Friday. His family could not be reached Tuesday.

“He was a very beloved family member, and very well thought of by the transit family,” said Llort. “This is a tragedy to the transit family and we are in mourning.

Llort said she had ordered that every employee receives counseling if desired.

Andrews began working as bus operator trainee on Nov. 23, 1987, said Llort. Then he became a Metrorail operator full time in the summer of 2003.

Metrorail has two routes, the Green Line from Dadeland South to Palmetto station and the Orange Line from Dadeland South to Miami International Airport (MIA).





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Zynga CFO David Wehner deflects to Facebook
















NEW YORK (AP) — Zynga‘s finance chief is leaving the troubled online game company to join Facebook.


San Francisco-based Zynga Inc. said Tuesday that David Wehner will take a “senior finance position” at the social networking company. His exact title will be vice president of corporate finance and business planning, Facebook said.













Chief accounting officer, Mark Vranesh, is replacing Wehner as chief financial officer, returning to the post he held from 2008 to 2010, while Zynga was still a private company.


Zynga also reshuffled its executive ranks, a move CEO Mark Pincus said puts the company in a position for “long-term growth.” Zynga, whose games include “FarmVille” and “Texas HoldEm Poker,” has seen its stock price fall sharply in recent months amid concerns about its ability to make money from mobile games, off of Facebook.


David Ko, who was previously chief mobile officer, is now chief operations officer. Barry Cottle, who came to Zynga from Electronic Arts Inc., is now chief revenue officer. He was previously executive vice president of business and corporate development.


The appointments seek to fill some of the holes left by executives who’ve left Zynga in recent months. John Schappert, Zynga’s chief operating officer, left in August after less than a year and a half on the job. Schappert’s exit was followed by that of Mike Verdu, the company’s chief creative officer. And in September Jeff Karp, the chief marketing and chief revenue officer, left the company.


Zynga is also reaffirming its guidance. The company still expects adjusted earnings of 2 or 3 cents per share. Analysts polled by FactSet expect 3 cents.


Zynga shares closed up 1 cent at $ 2.11 and added 2 cents in after-hours trading.


Gaming News Headlines – Yahoo! News



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AMF Bowling rolls gutter ball








Amf Bowling Worldwide, the world’s largest bowling alley operator, yesterday filed for bankruptcy protection for the second time in 12 years, saying recent economic weakness has cost it business and left it with an unmanageable debt burden.

The Mechanicsville, Va.-based company said it has agreed on a plan to significantly reduce its debt and turn over control to its lenders, enabling it to emerge from Chapter 11 before the end of April 2013.

AMF and 15 affiliates sought protection from creditors. The company said it had between $100 million and $500 million of both assets and liabilities.




AMF said it operates 270 bowling centers in the United States and Mexico — more than three times as many as its nearest rival. It also said it has more than 20 million customers a year and employs about 7,000 people.

AMF Chief Financial Officer Stephen Satterwhite said in a court filing the company has been unable to sufficiently reduce costs to combat falling revenue, amid a 36 percent decline in large US bowling league memberships since 1998. Efforts to sell assets were unsuccessful.

AMF said it has lined up $50 million of financing to keep operating now and that customers should see no difference.











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