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BUSINESS
January 13, 2004 | From Bloomberg News
SureBeam Corp., a maker of radiation systems to treat meat and fruit for harmful bacteria, said it would liquidate after failing to raise funds to continue operating. The San Diego-based company was unable to agree on a restructuring with Titan Corp., its former parent, and will file for Chapter 7 bankruptcy protection by the end of this week, Chief Executive Terrance Bruggeman said. The company, which was spun off by Titan in August 2002, will close Friday.
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BUSINESS
January 13, 2004 | From Bloomberg News
SureBeam Corp., a maker of radiation systems to treat meat and fruit for harmful bacteria, said it would liquidate after failing to raise funds to continue operating. The San Diego-based company was unable to agree on a restructuring with Titan Corp., its former parent, and will file for Chapter 7 bankruptcy protection by the end of this week, Chief Executive Terrance Bruggeman said. The company, which was spun off by Titan in August 2002, will close Friday.
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BUSINESS
August 22, 2003 | From Reuters
SureBeam Corp., known for making systems that zap bacteria in food, is now getting a reputation for zapping accountants. The company said it fired Deloitte & Touche -- its third dismissal of an accounting firm in little over a year. It showed Deloitte the door after the accounting firm raised concerns over how SureBeam booked revenue from certain contracts starting in 2000.
BUSINESS
September 17, 2003 | From Reuters
SureBeam Corp., which makes systems to kill food-borne bacteria, named a veteran advisor of troubled companies as its chief executive as it faced an accounting review and sluggish growth. The San Diego-based company named Terrance Bruggeman, who has worked as the interim CEO or advisor to financially troubled companies for more than 15 years, as president and chief executive. John Arme, who became CEO in July, will retain the post of chairman.
BUSINESS
September 17, 2003 | From Reuters
SureBeam Corp., which makes systems to kill food-borne bacteria, named a veteran advisor of troubled companies as its chief executive as it faced an accounting review and sluggish growth. The San Diego-based company named Terrance Bruggeman, who has worked as the interim CEO or advisor to financially troubled companies for more than 15 years, as president and chief executive. John Arme, who became CEO in July, will retain the post of chairman.
BUSINESS
October 25, 2001 | JOSH FRIEDMAN, TIMES STAFF WRITER
Investors hunting for anti-anthrax stocks latched on to food pasteurizer SureBeam Corp. of San Diego and its parent, Titan Corp., in Wednesday's trading, sending the stocks up 44% and 18%, respectively. SureBeam (ticker symbol: SURE) surged $4.71 to close at $15.41 on Nasdaq, and Titan (TTN), which spun off a minority stake in SureBeam in March, rose $4 to $26.30 on the New York Stock Exchange. It was the second straight day of robust gains for both.
BUSINESS
November 30, 2001 | Bloomberg News
Titan Corp. Chief Executive Gene Ray said he expects sales at the company's San Diego-based SureBeam unit to increase 70% next year from the current year. SureBeam sells systems that can be used to neutralize anthrax. Postal contracts and orders from the military will add to next year's sales, Ray said. Titan rose 37 cents to $25.59 in New York Stock Exchange trading.
BUSINESS
March 6, 2003 | From Bloomberg News
SureBeam Corp., the nation's largest food irradiation company, said President and Chief Executive Larry Oberkfell will resign this month to join closely held Schwan Food Co. Oberkfell, 49, has worked for San Diego-based SureBeam since November 1999, before it went public in March 2001, spokesman Mark Stephenson said. The executive is leaving on March 31 to become president and chief operating officer of Schwan's food service group. SureBeam has begun a search for a new president.
BUSINESS
August 13, 2003
* Foster's Group Ltd., Australia's best-known beer maker and the parent of Beringer Wine Estates winery in Napa Valley, is looking to sell more than 100 pubs through an initial public offering to raise nearly $1 billion and use the money to buy more winemakers, possibly in the United States. * Sun Microsystems Inc.'s Baa1 debt rating may be reduced by Moody's Investors Service, which cited a "continued decline" in Sun's sales of server computers and market share. * General Media Inc.
BUSINESS
August 13, 2002 | From Bloomberg News
Titan Corp. on Monday reported a wider second-quarter net loss as the defense contractor incurred costs to spin off its money-losing SureBeam Corp. food treatment unit. The loss widened to $11.8 million, or 16 cents a share, from $7.8 million, or 16 cents, a year earlier, Titan said. Sales rose 55% to $399.9 million. Titan last week spun off SureBeam, which irradiates food to kill harmful bacteria, to focus on selling communications networks to the military.
BUSINESS
August 22, 2003 | From Reuters
SureBeam Corp., known for making systems that zap bacteria in food, is now getting a reputation for zapping accountants. The company said it fired Deloitte & Touche -- its third dismissal of an accounting firm in little over a year. It showed Deloitte the door after the accounting firm raised concerns over how SureBeam booked revenue from certain contracts starting in 2000.
BUSINESS
November 30, 2001 | Bloomberg News
Titan Corp. Chief Executive Gene Ray said he expects sales at the company's San Diego-based SureBeam unit to increase 70% next year from the current year. SureBeam sells systems that can be used to neutralize anthrax. Postal contracts and orders from the military will add to next year's sales, Ray said. Titan rose 37 cents to $25.59 in New York Stock Exchange trading.
BUSINESS
October 25, 2001 | JOSH FRIEDMAN, TIMES STAFF WRITER
Investors hunting for anti-anthrax stocks latched on to food pasteurizer SureBeam Corp. of San Diego and its parent, Titan Corp., in Wednesday's trading, sending the stocks up 44% and 18%, respectively. SureBeam (ticker symbol: SURE) surged $4.71 to close at $15.41 on Nasdaq, and Titan (TTN), which spun off a minority stake in SureBeam in March, rose $4 to $26.30 on the New York Stock Exchange. It was the second straight day of robust gains for both.
BUSINESS
August 17, 2000 | Reuters, Bloomberg News
Fiber-optics company Corning Inc. (GLW), whose stock has more than quadrupled since October, will split its shares 3 for 1 on Oct. 3 for shareholders of record Sept. 5. The stock zoomed $14.50 to close at a new high of $290 on the New York Stock Exchange. . . . Charles Schwab Corp. (SCH) today will begin letting customers trade stocks before U.S. markets open in a move to lure overseas investors and people eager to act on breaking news.
BUSINESS
November 2, 2001 | Amy Hellickson, BLOOMBERG NEWS
Titan Corp.'s anthrax-zapping technology that the U.S. Postal Service will use to sanitize mail also ruins unprocessed and unused film and damages some electronics, the San Diego-based company said. Titan's machines douse envelopes and packages sent down a conveyer belt with electron beams and X-rays, sterilizing the bacteria. The process will make the mail safer to handle and help ease public worry amid the finding of anthrax spores in post offices around the U.S.
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