BRIEFCASE

Issue of July 24, 2007

NRG Energy joins climate partnership
   NRG Energy, Inc., based in West Windsor, has joined the United States Climate Action Partnership, an alliance of major businesses and leading climate and environmental groups calling for federal legislation requiring significant reductions of greenhouse gas emissions.
   "The time is now for decisive action to address climate change and decisive action requires clear and unequivocal leadership," said David Crane, president and chief executive officer of NRG Energy in a news release.
   NRG last June announced a repowering plan to develop new power generation facilities which would significantly reduce the carbon intensity of NRG’s generation fleet. The plan calls for investing approximately $16 billion on more than 10,000 megawatts of new, cleaner power plants — enough to supply power to eight million homes.
   NRG’s plans include building two new nuclear units at its South Texas Project location totaling approximately 2,700 megawatts — enough to power more than 2.1 million homes. Additionally, NRG is in the process of developing an Integrated Gasification Combined Cycle (IGCC) plant with carbon capture and sequestration in western New York that will have the ability to capture up to 65 percent of carbon dioxide today, with the potential for up to 90 percent in the future.
   "If the global economy is to make significant progress in reducing greenhouse gas emissions, it will be through the rapid commercial deployment of advanced nuclear generation facilities and, particularly, IGCC plants with carbon sequestration," said Crane.
   Other projects in the works include plans to develop new wind generation in California and Texas through NRG’s Padoma Wind Power subsidiary.
Senior services Web site launched
   An Internet index site directing New Jerseyans to available senior services, www.seniorsa2z.com, was recently launched by a West Windsor business. Grazina Crisman, president of Seniors A2Z, LLC, founded the site, according to a release, after seeking home health care for her aging aunt in Washington State and finding much disparate and irrelevant information on the Internet.
   The senior services Web portal provides access to senior resources in categories such as geriatric assessments, handyman services, food delivery, housing, pet-sitting, self-help groups, health information, hospitals, relocation, senior dating services and other resources. The site provides information on New Jersey senior resources initially, and will expand to other states in the future.
Custom gowns business opens
   New business Raspberry Bee Patient Gowns of Pennington has launched a Web site — www.raspberrybee.com — featuring custom-made patient gowns in cotton fabrics, including several prints by Lilly Pulitzer. Raspberrybee.com offers two styles of gowns and 14 cotton fabrics.
   The company was founded on the premise that facing an illness requires courage and having to wear an old, faded hospital gown does not inspire or give hope. Raspberry Bee designer and founder Christine Concannon was inspired to create the company after losing her mother to diabetes and a friend to a brain tumor in 2004.
Dog day care center established
   Camp Bow Wow, a dog day care and overnight boarding camp, located at 231 Bakers Basin Road in Lawrence, opened in June. For more information visit www.mycbw.com/lawrenceville/.
AMREP Corp. announces results
   Despite lower fourth quarter results, West Windsor-based AMREP Corp. reported improved results for its fiscal year ended April 30, 2007. For the fourth quarter of fiscal 2007, net income was $6.3 million, or $0.95 per share, compared to net income of $10.4 million, or $1.56 per share, in the same period of 2006. Fourth quarter 2007 net income consisted of income from continuing operations of $7.9 million, or $1.19 per share, and a loss from discontinued operations of $1.6 million, or $0.24 per share, while results for the fourth quarter of 2006 were entirely from continuing operations. Fourth quarter 2007 revenues were $48.3 million versus $47.8 million in the same period last year. AMREP reported net income of $45.1 million or $6.78 per share for the April 30 year, compared to net income of $26.1 million or $3.93 per share, in fiscal 2006.
   AMREP is primarily engaged in two businesses: magazine service operations, consisting of fulfillment and distribution services, and real estate development.
Sun Bancorp issues earnings
   Vineland-based Sun Bancorp, Inc. reported net income of $4.9 million, or $0.22 per share, up 29.6 percent for the quarter ended June 30, 2007, compared to net income of $3.8 million, or $0.17 per share, for the second quarter 2006. For the six months ended June 30, 2007, Sun Bancorp reported net income of $9.6 million, or $0.42 per share, compared to $8 million, or $0.36 per share, in the prior period — an increase of 20.5 percent. Net income for the first half of 2007 includes pre-tax net charges of approximately $1.6 million, or $0.05 per share.
Stark & Stark buys two Bucks firms
   New Jersey-based law firm Stark & Stark announced that two Bucks County law firms have joined it. The addition of the Liederbach, Hahn, Foy & Van Blunk firm, based in Richboro, Pa., and the Marston & Shensky firm, based in Doylestown, Pa., will allow Stark & Stark to offer its services more broadly in Pennsylvania. A total of seven attorneys and eight support staff will join Stark & Stark.
   The Liederbach firm was founded in 1954 and focuses on representing businesses in corporate, real estate and litigation matters. The Marston & Shensky firm was founded in 1981 and focuses on complex injury claims.
   The two firms will maintain their current offices until a new facility in Yardley, Pa. is completed. It is expected that the new office will be occupied around November 2007. The acquisition will increase Stark & Stark’s staff to 104 attorneys — 61 shareholders, 2 counsel, 41 associates — and a support staff of approximately 195 with offices in Lawrence, Philadelphia, Marlton, New York City, Richboro and Doylestown, Pa.
ETS to acquire Thomson Prometric
   Educational Testing Service, the Lawrence-based educational assessment and research organization, is acquiring Thomson Prometric — a technology-enabled testing and assessment services provider — from Thomson Corporation. ETS is Prometric’s largest customer for technology-based delivery of tests and assessments. Prometric delivers ETS’s Test of English as a Foreign Language test, the Graduate Record Examinations tests and the Praxis teacher licensing assessments. Thomson Prometric delivers assessments directly to candidates via the Web and through a global network of testing centers in 132 countries.
   ETS is acquiring Prometric for $435 million, pending regulatory approval. Prometric had annual revenues of $317 million in 2006. The transaction is expected to close in the third quarter of 2007. Prometric will operate as a wholly-owned, for-profit subsidiary of ETS.
Mathematica gets $50M contract
   Mathematica Policy Research, Inc., has been awarded a $50 million contract to administer the next generation of the What Works Clearinghouse for the Institute of Education Sciences, U.S. Department of Education. The WWC was established in 2002 by IES to provide educators, policymakers, and the public with a central and trusted source of scientific evidence of what works in education. The WWC collects, reviews, and reports on studies of education programs, products, practices, and policies in selected topic areas, using a set of standards based on scientifically valid criteria.
   Mark Dynarski, senior fellow and associate director of research at Mathematica, is spearheading the initiative. Jill Constantine, a senior economist and associate director of research, is the deputy director for the initiative. Mathematica, a nonpartisan firm, conducts policy research and surveys for federal and state governments, foundations, and private-sector clients. It has offices in West Windsor, Washington, D.C., and Cambridge Mass.