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Carl-Wilhelm Vogel, director of the Cancer Research Center of Hawaii, has resigned after nine years on the job.

The University of Hawaii at Manoa issued a statement on Thursday praising Vogel’s leadership since his appointment in 1999. Vogel told PBN that his last day as director will be Dec. 31, after which he will stay on with the center as a faculty member and continue with research.

He declined to say why he is stepping down.

The university said it will begin a nationwide search for a new permanent director soon and Vogel is expected to assist with the transition of leadership default payday loan.

“UH Manoa is grateful for Dr. Vogel’s many contributions,” said University of Hawaii at Manoa Chancellor Virginia Hinshaw in a statement. “Dr. Vogel will continue his service to UH Manoa as he resumes his research as a member of the Cancer Center faculty.”

The university said the center will continue with its plans to build a new $200-million cancer research facility in Kakaako.

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Four real estate teams are bidding to be named master developer of the 67-acre Hill East project, formerly known as Reservation 13, which would connect Capitol Hill to the Anacostia River waterfront just south of RFK Stadium with 5 million square feet of new development.

The respondents are:

• EastBanc Inc., which remade the West End and Georgetown with luxury retail, housing and hospitality, including two Ritz-Carlton hotels.

• Franklin L. Haney Co., which developed more than 15 million square feet of space made a failed bid to buy the Washington Nationals. The company has partnered with Bethesda-based Donatelli Development, Chapman Development, Combined Properties Inc., Banneker Ventures LLC and Tudor Holdings.

• Hunt Development Group. is partnering with Mosaic Urban Partners. The team also includes four D.C.-based developers, which have all worked on mixed-use projects in partnership with the city: William C. Smith & Co., Abdo Development LLC, EYA Development and the Jair Lynch Cos.

• Urban Atlantic leads another team that also includes nine other partners: Vornado/Charles E loans until payday. Smith, Trammell Crow Co., Elm Street Development, Blue Skye Development LLC, Brickstone Development, Eagle Vision Ventures LLC, Dynamis Advisors, Sun Edison and Ellis Denning Development.

The 67-acre project has been pegged as a chance to create a model neighborhood for environmentally responsible development, one that would minimize stormwater runoff — the source of 75 percent to 90 percent of pollutants entering the Anacostia River — and possible include a source of renewable energy.

D.C. officials in the office of Neil Albert, deputy mayor for planning and economic development, hoped to lure teams with a “track record of developing projects at the forefront of sustainable design initiatives,” according to the request for expressions of interest the city issued in May.

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Florida’s technology exports grew by almost $1 billion last year, according to the Trade in the Cyberstates 2008 report, released Tuesday by AeA, a national technology trade association.

Florida was the third-largest tech exporter in the nation, with a $13.4 billion share of the U.S.’s $214 billion total.

Florida trailed only California, which led the country with $48.2 billion, and Texas, the nation’s second leading high-tech exporter, with $35.9 million. New York ($8.9 billion) and Massachusetts ($8.7 billion) rounded out the top five.

"When many people think of Florida exports, they probably think only of citrus fruits,” said Maryann Fiala, executive director of AeA’s Florida Council. “But, nearly a third of all exports from the Sunshine State are high-tech products. State public policy officials need to see trade as a great job creator for Florida. High-tech exports support nearly 70,000 jobs in the state.”

While Florida’s tech exports rose, they declined by 3 percent domestically.

The largest single tech sector was computers and peripherals, which accounted for $5.1 billion of exports.

The overviews also provided the top five leading high-tech export destinations for individual states.

For example, Massachusetts’ leading export destination was Japan, followed by Germany and Canada fast cash advance. In contrast, Florida’s leading high-tech export destinations were Brazil, Venezuela and Mexico.

High-tech exports supported hundreds of thousands of U.S. jobs. In Florida, nearly 70,000 jobs were supported by tech exports. Other leading states included Texas (183,900 jobs), California (183,000 jobs), Arizona (36,400 jobs) and Oregon (33,900 jobs).

What does high-tech trade mean for Florida?

· $13.4 billion in high-tech exports (ranked third in U.S.)

· Up $989 million in tech exports between 2006 and 2007

· 30 percent of exports from Florida are tech exports (ranked 12th)

· 69,900 jobs in Florida are supported by tech exports

Florida’s leading tech export destinations:

· Brazil ($2 billion)

· Venezuela ($1.3 billion)

· Mexico ($1 billion)

Florida’s leading tech export sectors:

· Computers and peripheral equipment ($5.1 billion, ranked third in U.S.)

· Communications equipment ($3.3 billion, ranked third)

· Photonics ($529 million, ranked second)

Source: Trade in the Cyberstates 2008

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House Financial Services Committee Chairman Barney Frank sought authority to oversee and audit Treasury Secretary Henry Paulson's $700 billion program to buy bad mortgage investments.

Frank, a Democrat from Massachusetts, proposed that the U.S. Comptroller General “commence ongoing oversight of the activities and performance'' of the plan, according to legislative language presented to Treasury officials today and obtained by Bloomberg News.

The Comptroller General, who serves as director of the Government Accountability Office, and other GAO officials would have access to financial records, have audit powers and would report findings to Congress, under Frank's measures. The GAO is Congress' financial watchdog.

Frank also recommended limits on executive compensation of companies participating in the debt purchase plan, called the Troubled Asset Relief Program, or “TARP.'' Frank's additions to Paulson's request yesterday urged the Treasury to broaden efforts to help homeowners in danger of foreclosure.

The Comptroller General's oversight will include assessing how well the program is meeting other goals Frank set out, including foreclosure prevention, consumer protection and stabilization of the financial system, according to the document.

Unchecked Power

Paulson asked Congress for unfettered authority to buy devalued mortgage-related securities from investment firms in an effort to keep the financial system from coming to a standstill. The proposal would prevent courts from reviewing the Treasury's actions while raising the nation's debt ceiling.

“We cannot just turn over $700 billion in taxpayer money and not insist that that taxpayer is going to be protected in this,'' Senate Banking Committee Chairman Christopher Dodd told reporters today after a conference call with Senate Democratic leaders creditscore.

The comptroller will submit reports of findings at least every 60 days to the House Financial Services Committee, the Senate Banking Committee and the Treasury Department Inspector General on the activities and performance of the program, according to the draft language.

The program will issue audited financial statements annually to the public and Congress, and the GAO will audit the statements.

CEO Compensation

Companies seeking to sell assets through the program must meet “appropriate standards'' for executive pay and shareholder disclosure, Frank proposed. These include limits on pay to exclude incentives for executives to take risks that are “inappropriate or excessive.''

The Treasury facility would be required to help homeowners avert foreclosures on mortgages, mortgage-backed securities and other assets it acquires that are secured by residential real estate. This includes using its authority as an investor to urge the companies that service the underlying loans to take advantage of a new Federal Housing Administration program.

The FHA program, created under a foreclosure-prevention law Congress enacted in July, is aimed at insuring up to $300 billion in refinanced 30-year fixed-rate loans for about 400,000 borrowers after loan holders agree to forgive some of the balance to help struggling homeowners.

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European Union Commissioner for Economic and Monetary Affairs Joaquin Almunia said he has no “clear idea'' how long the financial-market turmoil will last.

This year “may be one of the hardest years we can remember,'' Almunia said today at a conference in Madrid. “We still don't have a clear idea of how long we'll be living in such a difficult situation.''

The euro-area economy contracted in the second quarter for the first time since monetary union began almost a decade ago, buffeted by record-setting gains in the euro and oil prices, while the yearlong credit squeeze has led in the past two weeks to the collapse of Lehman Brothers Holdings Inc. and the government takeover of Fannie Mae, Freddie Mac and American International Group Inc.

“The degree of optimism has reduced in past six months,'' Almunia said faxless payday loans. “Many thought we were at the beginning of the end of the financial tension.''

Almunia said the European Central Bank has a “clear awareness'' of the dangers inflation poses for the economy, though price growth probably peaked at 4 percent in June and July.

“Inflation in August has started to slow in the euro region,'' he said. “We can expect that this deceleration won't just continue, but will become more evident.''

And this “will help avoid errors of the past with second- round effects,'' Almunia said.

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Reynolds American Inc. and its subsidiary R.J. Reynolds Tobacco Co. said Tuesday they were cutting about 10% of their American work force as the company restructures its portfolio.

The nation’s second-largest tobacco company said it plans to lay off about 570 workers in Winston-Salem, N.C, where the two companies are based, or about 16% of the work force there.

The cuts are expected to begin in the third quarter and last through the end of 2009.

The company said it expects to record a $90 million pretax restructuring charge in the third quarter of 2008 because of the efforts.

Meanwhile, Reynolds said it was realigning its brands as it tries to "simplify programs and processes, reduce complexity and improve productivity" throughout the company while focusing on innovation and "maximizing trademark equity."

Among the changes: The company is scaling back marketing and promotional support for its Kool menthol brand cigarettes, while boosting the amount of money it spends on Camel brand menthol products.

"The company believes that Camel’s strength provides significant opportunities in the expanding premium-priced menthol category, in which the brand currently has a small but growing position," Reynolds said in a statement.

The Pall Mall label will also remain one of the company’s growth brands.

"Continued success demands that we fully align our plans, programs and people behind the things that matter most to our future performance," Daniel M payday loan online. Delen, chairman, president and chief executive officer of R.J. Reynolds, said in a statement. "The steps we are taking support R.J. Reynolds’ ongoing evolution to a ‘total tobacco’ business model that includes both cigarettes and innovative smokeless tobacco products."

Reynolds (RAI, Fortune 500) shares were unchanged at $51.57 in premarket trading Tuesday. 

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The European Commission cut its growth estimate for the euro area this year and signaled it may also lower its 2009 forecast as the U.S. and Asian economies cool.

The economy of the 15 nations that use the euro will probably expand 1.3 percent this year, the Brussels-based commission said today, revising down its April forecast of 1.7 percent. “Developments in the global economy seem to suggest a significant downward revision for 2009,'' it said, referring to forecasts it plans to publish in November.

Europe's economy shrank in the three months through June and Luxembourg Finance Minister Jean-Claude Juncker today said there is a “risk of a technical recession.'' Manufacturing and services activity contracted for a third month in August and confidence dropped to the lowest in more than five years. Even with a cooling economy, the European Central Bank has resisted cutting interest rates as it tries to combat inflation.

“Economic activity has slowed down considerably'' in recent months, Juncker, who leads the group of euro-area finance ministers, said in Brussels today. The EU report said growth “is expected to stall'' in the current quarter. A technical recession is defined as two consecutive quarters of economic contraction.

“We expect economic activity to be essentially stagnant across the region in the second half of 2008,'' said Howard Archer, chief European economist at Global Insight in London. He sees growth slowing to 0.8 percent next year from 1.2 percent this year.

Largest Economy

The commission left its growth forecast for Germany, Europe's largest economy, unchanged at 1.8 percent, and lowered those for France, Spain, Italy and the Netherlands.

“The continuation of the turmoil in the financial markets one year on, the near doubling of energy prices over the same period and the correction in some housing markets have had an impact on the economy,'' Economic and Monetary Affairs Commissioner Joaquin Almunia said in today's report.

While the commission raised its inflation forecast for 2008 to 3.6 percent from 3.1 percent, it said consumer-price growth “may be at a turning point'' after oil prices fell from a record and as past increases in food and energy costs “gradually fade in the coming months.'' The recent fall in commodity prices and the euro also “have provided some relief,'' Almunia said.

Oil Prices

Since reaching a record $1.6038 against the dollar on July 15, the currency has dropped around 12 percent to $1.4163 today. Oil prices have fallen almost 30 percent in the last two months to $103.84 a barrel.

Still, the euro's advance and the surge in energy prices have already taken their toll fastcash. Paris-based L'Oreal SA, the world's largest cosmetics maker, on Aug. 29 reported the slowest profit growth in three years. Stora Enso Oyj and UPM-Kymmene Oyj, Europe's largest papermakers, today said they will close unprofitable production lines as raw-material and energy costs have outpaced their ability to raise prices.

Banks including Amsterdam- and Brussels-based Fortis and Irish Life & Permanent Plc of Ireland have suffered due to writedowns, losses or increased funding costs related to the credit crisis. Credit Agricole SA, France's third-largest bank, today said it will eliminate about 500 jobs at its Calyon corporate- and investment-banking unit to rein in costs following three consecutive quarterly losses.

`Downside Risks'

“The main downside risks identified in the spring forecast have materialized, with the financial turmoil deepening, commodity prices soaring and the shocks to several housing markets spreading more widely,'' the commission said in the report. It sees a “marked deceleration'' ahead in most Asian economies and predicts that the effect of a tax rebate that boosted second-quarter U.S. growth will fade.

The ECB last week lowered its euro-region growth outlook and raised its inflation projections for this year and next. ECB President Jean-Claude Trichet said today in Brussels that inflation “is likely to remain high for quite some time, moderating only gradually during the course of 2009,''

The European Commission has backed the ECB's monetary- policy stance, with Almunia saying yesterday that policy makers are “doing a good job in difficult conditions and they deserve our full confidence and support.''

Some companies have tried to offset falling European and U.S. orders by expanding in Asia and oil-exporting countries. German exports to India more than tripled in the four years through 2007, according to figures from that nation's statistics office. Volkswagen AG, Europe's biggest carmaker, on Sept. 8 said emerging markets will provide the fastest growth in worldwide sales over the next 10 years, led by economic expansion in Asia and Russia.

“The risks to the growth outlook stay tilted to the downside. In particular, developments in commodity and financial markets will continue to be the key factors shaping the growth outlook,'' the commission said. “The risks to the inflation outlook appear somewhat more balanced, albeit they are still tilted to the upside.''

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Prudential, Washington Mutual and State Farm are among the companies participating in a diversity career and college expo hosted by the Tampa Bay chapter of the National Society of Hispanic MBAs on Sept. 13. Other companies taking part include the American Cancer Society, Granite Services International and Yum Brands.

The University of South Florida, Nova Southeastern University, DeVry University, Walden University, the University of Phoenix and other educational institutions will provide information about admission to graduate programs, financing a masters in business administration and scholarships.

The expo’s diversity partners include the National Black MBA Association, the Association of Professional Latinos in Financing and Accounting, Hispanic Young Professionals and Entrepreneurs, Tampa Bay Higher Education Alliance, CENTRO, National Association of African-Americans in Human Resources and Jobing.com.

The event is scheduled for 10 a.m freecreditscore. to 2 p.m. at the Carrollwood Cultural Center in Tampa.

The National Society of Hispanic MBAs has 32 chapters and more than 7,000 members in the United States and Puerto Rico. Its mission is “to foster Hispanic leadership through graduate management education and professional development,” said a release.

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India's government, fresh from surviving a confidence vote this week, will push to lift restrictions on overseas investors controlling privately-run banks, Finance Minister Palaniappan Chidambaram said.

Stalled legislation removing a 10 percent cap on foreigners' voting rights in banks may be revived before laws on pensions and insurance when parliament convenes next month, Chidambaram said.

“Bills in advanced stages of consideration will be taken up first,'' Chidambaram said in a telephone interview from New Delhi. “We seem to have acquired the political space to take the liberalization process forward.''

The banking index tracking 17 lenders is set for its biggest weekly gain after Prime Minister Manmohan Singh remained in power with support from new allies who replaced communists opposed to foreign investment. The bill would give ING Groep NV, the largest Dutch financial services company, more control over Bangalore- based ING Vysya Bank Ltd. with its 44 percent stake.

“There is likelihood of further reforms,'' said Tushar Poddar, a Mumbai-based economist at Goldman Sachs Group Inc. “Given the limited time at the government's disposal, and the motley group of new allies, reforms are by no means certain.''

Manmohan Singh's five-year tenure comes to an end in May. Amar Singh, whose Samajwadi Party replaced the communists as the government's main ally, said on July 10 he may back legislation easing curbs on foreign companies seeking to expand in insurance, pensions and banking.

Removing Cap

The bill to remove a 10 percent cap on the voting rights of foreign investors in non-state banks is pending in parliament while a parliamentary committee is considering the bill to open the pensions business to overseas investors, Chidambaram said.

The draft bill to raise the foreign investment ceiling for insurers to 49 percent from 26 percent is with the government, he said. The banking and pension bills have been languishing in parliament for three years and the finance minister announced the insurance measures in 2006.

“All three are on the agenda of the ministry of finance,'' Chidambaram said. “We are looking into various aspects of the foreign direct investment regime, trying to see whether further liberalization is possible.''

New York-based American International Group Inc., the world's largest insurer by assets, New York Life Insurance Co. and Prudential Plc, based in London, are among insurers that are restricted to 26 percent stakes in their ventures in India cash advance.

Reviving the reforms may entice Lloyd's of London, the world's largest insurance market, to scale up its operations in India, where it writes about $400 million of business, spokeswoman Louise Shield said July 10.

Greater Role

Manmohan Singh's plans to give overseas companies a greater role in India's financial industry were blocked by his erstwhile communist partners, who this month withdrew support over the nuclear accord with the U.S.

Singh got 275 votes in his favor and 256 against in the confidence vote in the 541-member lower house, a margin that will force Chidambaram to secure backing from opposition parties to ensure the government's pending legislation is approved.

“In a parliamentary democracy, the ruling party reaches out to all opposition parties,'' Chidambaram said.

Chidambaram also said the government will revisit plans to list shares of government-run companies.

“Listing improves governance. There are many companies looking for capital,'' Chidambaram said, without revealing which company will sell shares. “We have to see what the market is like and what the appetite in the market is like.''

India's stock market surged more than fourfold in the first 3 1/2 years of Singh's administration as the 75-year-old prime minister presided over an economic expansion that averaged 8.9 percent a year, the fastest since independence in 1947.

Record Sales

This year, foreign investors, who bought a record $17.2 billion of stocks in 2007, have turned sellers as the benchmark equity index has lost about a third of its value. The central bank expects growth in Asia's third-largest economy may slow to 8 percent this year, dragged down by record high oil prices.

To contain inflation, Reserve Bank of India Governor Yaga Venugopal Reddy has raised interest rates 15 times and ordered banks to set aside more reserves eight times since October 2004. The governor will unveil the next monetary policy statement on July 29, which will be Reddy's last policy announcement if he retires as scheduled in September.

India will announce its decision regarding the country's next central bank governor “well in time,'' Chidambaram said.

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Gov. David Paterson was admitted to Mount Sinai Medical Center in New York City Tuesday morning after he began experiencing migraine-like symptoms.

The governor’s office said in a short statement that Paterson was evaluated and preliminary tests were found to be normal. He is expected undergo more tests later in the day, according to the statement cash advance.

Paterson, who replaced Eliot Spitzer as governor in mid-March, was to deliver a commencement speech at Columbia University Tuesday afternoon.

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