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This St. Louis native just missed buying LA Clippers

\ Send this story to a friend May 30, 2014, 8:59am CDT Updated: May 30, 2014, 9:13am CDT Michael Tipton, cc-licensed https://flic.kr/p/eXHfjc Donald Sterling has been banned for life from the NBA for racial comments he made. He's not quite a feminist, either. Joe Dwyer[1] Managing Editor- St. Louis Business Journal Email[2] | Twitter[3] | Facebook[4] | LinkedIn[5] In a frenetic bidding war, Steve Ballmer[6], former CEO of Microsoft[7], put in a winning bid of $2 billion for the NBA’s[8] Los Angeles Clippers[9]. Ballmer’s bid bested offers by investors Bruce Karsh[10] and Tony Ressler[11] and a group that included David Geffen[12] and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers[13], reports the Los Angeles Times[14]. Karsh is a former St. Louisan who now lives in Los Angeles. He is a partner in Oaktree Capital Management[15], an asset management firm specializing in alternative investment strategies. His Clayton St. Louis Property LLC bought the Ritz-Carlton hotel in Clayton for $56 million in 2012. Forbes estimated Karsh’s net worth at $1.9 billion. Karsh and Ressler submitted an offer of $1.2 billion, according to the Times. The Geffen group reportedly offered $1.6 billion. Ballmer left Microsoft earlier this year. He has an estimated net worth of $20 billion, according to Forbes. Research reports, Stocks References^ Joe Dwyer (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Facebook (www.facebook.com)^ LinkedIn (www.linkedin.com)^ Steve Ballmer (feeds.bizjournals.com)^ Microsoft (www.bizjournals.com)^ NBA’s (www.bizjournals.com)^ Los Angeles Clippers (www.bizjournals.com)^ Bruce Karsh (feeds.bizjournals.com)^ Tony Ressler (feeds.bizjournals.com)^ David Geffen (feeds.bizjournals.com)^ Los Angeles Dodgers (www.bizjournals.com)^ reports the Los Angeles Times (www.latimes.com)^ Oaktree Capital Management (www.bizjournals.com)...
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ASU's Entrepreneurship and Innovation Group expands with new dean, wider focus

Hayley Ringle[1] Reporter- Phoenix Business Journal Email[2] | Twitter[3] | LinkedIn[4] | Google+[5] Arizona State University’s[6] Entrepreneurship and Innovation Group will expand in the fall as the college has named a new dean and plans a new focus to extend its entrepreneurial education to all students, faculty and the community. Mitzi Montoya[7], the former vice provost of ASU's Polytechnic campus and dean of the College of Technology and Innovation, is the new vice president and university dean of the school’s Entrepreneurship and Innovation Group. “This is (ASU President Michael) Crow’s vision for the next phase of entrepreneurship and innovation,” Montoya told me today. “We want to extend entrepreneurship education to all students, provide entrepreneurial experiences for all students, support faculty startups and entrepreneurs, and grow the regional entrepreneurial ecosystem.” In the Fall, Montoya will be helping to launch signature innovation challenges at the 15 ASU colleges. The goal is to give all ASU students opportunities to be entrepreneurial and to develop those skills no matter what their major is, Montoya said. “This is an opportunity for students to have new ideas to solve big problems,” said Montoya, who has been at ASU for four years after spending 15 years at North Carolina State University[8]. “Students can carry those ideas forward through entrepreneurship classes and other mechanisms to make their ideas happen. Innovation is certainly the foundation of economic growth and development. A major characteristic is our ability to invent and re-invent ourselves, which is a skill that can be taught.” Montoya is known for helping to bring the state's first TechShop Inc.[9], a membership-based, do-it-yourself fabrication studio filled with more than $1 million worth of tools, technology and equipment, to Chandler last November. Hayley Ringle covers technology and startups for the Phoenix Business Journal. References^ Hayley Ringle (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^…
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Tully’s name could go away

Michael Avenatti, Tully's chairman Rob Smith[1] Editor- Puget Sound Business Journal Tully’s coffee shops may no longer be able to use the Tully’s name. The Seattle Times reports that Keurig Green Mountain, the Vermont company that bought the wholesale operations of Tully’s and owns the brand, has sued in federal court in New York[2] to prevent the company from using the Tully’s name. According to the Times, Keurig says Global Baristas “violated its licensing agreements by selling coffee from local firm Dillanos without Keurig’s permission.” The report also says that Seattle-based Global Baristas — which rescued Tully’s from bankruptcy ­— owes Keurig $469,000. The move comes less than two months after Tully’s Chairman Michael Avenatti[3] told the Puget Sound Business Journal that Tully’s was on the rebound[4]. The action is the latest in a round of bad news for Tully’s. Last summer TV heartthrob Patrick Dempsey[5] announced he was pulling out of a dea[6] l with Avenatti to take an ownership stake in the company. References^ Rob Smith (feeds.bizjournals.com)^ has sued in federal court in New York (seattletimes.com)^ Michael Avenatti (feeds.bizjournals.com)^ was on the rebound (www.bizjournals.com)^ Patrick Dempsey (feeds.bizjournals.com)^ he was pulling out of a dea (www.bizjournals.com)...
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Uber now seeking $12B valuation, report says

David Paul Morris Uber Technologies, led by CEO Travis Kalanick, is reportedly on the hunt for a $500 million investment that would value the ride-sharing startup at $12 billion. John Sailors[1] Morning Edition Editor- San Francisco Business Times Email[2] Uber Technologies[3], the driver for hire company, is reported to be seeking $500 million in an investment that would value the firm at more than $12 billion — just one week after the startup said it would chase a $10 billion valuation. The company is talking with possible investors including hedge funds, mutual fund BlackRock[4] Inc., and private-equity firms General Atlantic[5] and Technology Crossover Ventures[6], the Wall Street Journal reported[7]. It's looking to complete the deal within the next few weeks. Last week, Uber was reportedly seeking a funding round that would value it above $10 billion[8], where the startup would join a handful of other venture-backed Bay Area companies valued in that range. Uber's service connects people needing a ride with drivers in 115 cities around the world and employs 900 people. Uber raised $258 million last August from Benchmark, TPG Capital[9] and Google Ventures[10], valuing it at about $3.5 billion. It has collected a total of $307.5 million since it was founded in 2009 with other backers including Menlo Ventures[11], First Round Capital[12] and Goldman Sachs[13]. (Edited by: Baumann, ) References^ John Sailors (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Uber Technologies (www.bizjournals.com)^ BlackRock (www.bizjournals.com)^ General Atlantic (www.bizjournals.com)^ Technology Crossover Ventures (www.bizjournals.com)^ the Wall Street Journal reported (online.wsj.com)^ that would value it above $10 billion (www.bizjournals.com)^ TPG Capital (www.bizjournals.com)^ Google Ventures (www.bizjournals.com)^ Menlo Ventures (www.bizjournals.com)^ First Round Capital (www.bizjournals.com)^ Goldman Sachs (www.bizjournals.com)...
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Edward Jones recruits military veterans to broker ranks

Jim Weddle, managing partner - Edward Jones Greg Edwards[1] Reporter- St. Louis Business Journal Email[2] | Twitter[3] | Facebook[4] On this Memorial Day weekend, a reminder that veterans are not only appreciated for their military service but also can be a keystone to a successful business strategy. Edward Jones[5] has been recruiting veterans as part of its strategy to recruit brokers. It has launched a training and compensation package designed to make the transition to a career in financial services more attractive. You’ll find the details here[6]. Jones has historically based its hiring strategy on recruiting successful business people, but candidates were tough to find during the recession because they were reluctant to leave the jobs they had. Military officers and other veterans were among the targets[7] for the strategy under Jones managing partner Jim Weddle[8]. During 2013, Edward Jones added 695[9] new financial advisers, bringing its ranks to 13,158, including about 1,500 veterans. Assets under care grew by $118 billion to $787 billion during the year. Edward Jones reported[10] record profit of $674 million on record revenue of $5.66 billion for 2013. Shoptalk, Banking, Economic development References^ Greg Edwards (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^ Facebook (www.facebook.com)^ Edward Jones (www.bizjournals.com)^ here (www.ejcareer.com)^ among the targets (www.bizjournals.com)^ Jim Weddle (feeds.bizjournals.com)^ added 695 (www.bizjournals.com)^ reported (www.bizjournals.com)...
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​Empire State Development chief looks for help from businesses to promote state incentive programs

Donna Abbott-Vlahos Ken Adams is CEO of Empire State Development, New York's economic development agency. Keshia Clukey[1] Reporter- Albany Business Review Email[2] | Twitter[3] Kenneth Adams[4], president and chief executive officer of Empire State Development, is seeking help from local government and business leaders to grow the New York state economy. "We should let local stakeholders tell us what matters," said Adams, who also serves as commissioner of the New York State Department of Economic Development. "Before we focus on trying to chase new investment, we have to make sure we're taking care of the 500,000 companies in the state." The Chambers of Commerce of Schenectady, Fulton and Montgomery counties and Assemblyman Angelo Santabarbara[5] (D-Rotterdam) hosted a breakfast meeting Thursday at River Stone Manor in Glenville, featuring Adams as the main speaker. Adams asked that the chamber members and local leaders inform more companies about the number of state economic development programs and grants there are available. Programs discussed included: Start-Up NY. A program which allows businesses to start up or significantly expand on college campuses and operate tax free for up to 10 years. Innovate NY Fund. Provides funding to invest in New York-based, seed-stage companies that have substantial potential for growth and job development in an emerging technology field. Business Mentor NY. A new program that brings entrepreneurs and small businesses from across the state together with mentors to help them overcome challenges and spur growth.Though the state is rebounding from the 2008 financial crisis, and regulations are getting better, taxes still make the state difficult for businesses. "Economic development really requires not just those programs, but the constant advocacy for reform," Adams said. "Is there more to do? Absolutely. Are things looking good? Yes." Clukey covers money and technology. References^ Keshia Clukey (feeds.bizjournals.com)^ Email (feeds.bizjournals.com)^ Twitter (twitter.com)^…
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