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In a stunning move, Bay Commercial Bank said it raised $18 million in permanent capital as part of a fund-raising effort that could eventually bring in $53 million.
The bank raised the $18 million from Jacobs Asset Management, Commerce Street Financial Partners, Starboard Funds and other institutional and accredited investors. That money doubled the capital base […]

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Austin game developer Heatwave Interactive Inc. unveiled Tuesday a Myspace version of its popular hip-hop social media game.
The "Platinum Life: Web Edition," which was also revamped for Facebook, allows players to create a music persona and maneuver through a career on a quest to reach the top of the industry. Likenesses include recognized artists such […]

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Doctors who receive Medicare payments won a round Friday in their bid for a raise - but first they’ll suffer a big cut in their government reimbursements.
The Senate passed a bill Friday rescinding a 21% cut and adding a 2.2% increase for Medicare payments. The bill was passed by unanimous consent after lawmakers found […]

A stock rally gained momentum Thursday, with the major indexes hitting highs for the day in the last minutes of trade, as concerns over Europe’s debt crisis and its impact on the global recovery were calmed by a sharp boost in Chinese exports and a strengthening euro.
The Dow Jones industrial average (INDU) […]

Satellite fleet operator Intelsat Corp. sucessfully beat back a protest from three Northern Virginia companies alleging anti-competitive behavior by an Intelsat subsidiary on a five-year, $543 million U.S. Navy satellite services contract.
Intelsat, whose global headquarters is in Luxembourg with a main office in the District, said the Commercial Broadband Satellite Program (CBSP) contract with the […]

Multnomah County commissioners have signed off on building a new courthouse that will serve the board’s easternmost residents.
The board approved a $19.6 million structure at Southeast 185th Avenue and Stark Street, in Gresham’s Rockwood neighborhood. The county will sell at least $15 million worth of bonds for the project.
The building will contain three courts. A […]

One more review and the latest expansion phase for the Buffalo Transportation/Pierce-Arrow Museum can finally begin.
The Buffalo Planning Board, Tuesday morning, will be meeting with museum founder James Sandoro to go over his proposed construction of a 21,244-square-foot, single story atrium. Board approval is central to his larger plan of a 60-foot-tall and 60,000-square-foot atrium […]

1942 — Founded by Victor Hermelin and Bob Keith, both of St. Louis.
1947 — KV and its co-founders charged with shipping vitamin capsules that had less than the required amount of vitamins.
1950 — KV charged in a criminal complaint with shipping 51,000 vitamins whose ingredients were deficient.
1975 — Victor’s son, Marc […]

Forty-two students from the Thunderbird School of Global Management were in Chile Saturday during the 8.8 magnitude earthquake that rocked the South American country.
The Glendale graduate business school said the students as well as a professor and staff member survived the quake without injury.
The students, in the capital city of Santiago for a one-week class, […]

Crude oil advanced Wednesday, extending the previous session’s 4% gain, as investors continued their bid for riskier assets.
What prices are doing: Crude oil for March delivery rose 33 cents, or 0.4%, to settle at $77.33 a barrel Wednesday.
Oil surged 3.8% Tuesday to settle at $77.01 a barrel. Prices tracked rising stocks and were […]