Monday, April 9, 2012
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An Executive’s Guide to Cutting HR Costs
An Executive’s Guide to Cutting HR Costs from TriNet

Entrepreneurial execs know that they need to follow the rules, but they may not realize what decisions may lead to the two vital components that keep HR costs lower: 1. Increasing productivity 2. Minimizing human capital expenses The following paper will focus on minimizing human capital expenses in four areas: 1. Hiring the right person for the right seat on the right bus 2. Improving performance with motivational yet balanced total compensation 3. Complying with the law 4. Offering competitive benefits, communicated effectively

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WaveTec Vision Gets $16.5M For Cataract Surgery
Aliso Viejo-based WaveTec Vision, which is developing diagnostic devices for cataract surgery, said monday that it has raised $16.5M more in funding. The funding was led by Burrill & Company, and also included Versant Ventures, Accuitive Medical Ventures, De Novo Ventures and Gund Investment Corporation. The firm said the funding will go towards commercialization of its products, and product refinement. WaveTec's diagnostic device helps surgeons provided better cataract surgery outcomes, particu (More info...)

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Cornerstone OnDemand Completes Sonar Limited Buy
Santa Monica-based Cornerstone OnDemand, the developer of cloud-based, talent and HR management software headed by Adam Miller, said Monday afternoon that it has completed its acquisition of Sonar Limited (Sonar6). The deal had been announced originally on March 8th. Cornerstone OnDemand had earlier announced that the deal was worth $13M in cash plus $1M in equity. Sonar6 was a New Zealand-based developer of talent management software for the small business market. Cornerstone OnDemand said it w (More info...)

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Xfire Names New CEO, Inks Chinese Joint Venture
Santa Monica-based Xfire, the social networking and chat service aimed at gamers, said Monday afternoon that it has named a new CEO, and inked a joint venture with a Chinese company. According to the firm, it has appointed Malcolm CasSelle as its CEO, and tied into China Youth Goyor Technology (Beijing) Co. Ltd on an effort to expand its services to China. Financial details of the deal with China Youth Goyor Technology were not disclosed. CasSelle was previously a founder at NetNoir and Hong-Kon (More info...)

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iStoryTime Taps Apple Vet For Creative Head
Santa Barbara-based zuuka, the publisher of the iStoryTime interactive kids books and educational applications, has tapped an Apple vet for its new Creative Director, the company said today. The company said it has hired Paul Mueller-Bruehl to head up its design department. Mueller-Bruehl was previously Design Lead, Mobile Commerce at Apple, and had also served at Sapient. iStoryTime is the publisher of a number of kids' iPhone titles, including Kung Fu Panda, Shrek, How to Train Your Dragon, Pe (More info...)

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Kuapay Takes On Mobile Payments, Loyalty With $2M
Santa Monica-based Kuapay, a new startup aiming at the mobile payments and loyalty markets, has scored $2M in funding, the firm has disclosed. The startup is headed by Joaquin Ayuso de Paul, one of the angel investors in Border Stylo and co-founder of Spanish social network Tuenti.com (acquired by Telefonica). According to Kuapay, the firm's mobile apps run on iPhone, Android, and Blackberry, and allow users to make credit card purchases with their smartphone, by linking with existing point of s (More info...)

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DogVacay Gets Direct Competition: Rover.com
Santa Monica-based DogVacay, the online marketplace which helps dog owners connect with pet lovers to help watch their dogs, has some new competition today: Rover.com. According to Seattle-based Rover.com, it has just scored $3.4M from Madrona Ventures and CrunchFund for its own, pet sitting marketplace. DogVacay, which is led by Aaron Hirschhorn, has the backing of such firms as First Round Capital, Science Inc., Quest Venture Partners, Baradoa Ventures, and angel Ted Rheingold of Dogster.com. (More info...)

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Ticketmaster Extends Deal With NFL
Los Angeles-based Ticketmaster, the ticketing firm owned by Live Nation Entertainment, reported this morning that it has inked a five year contract extension with the National Football League. The firm said the deal calls for it to continue to run the NFL Ticket Exchange, the official ticket resale marketplace for the NFL. Financial details of the deal were not disclosed. Ticketmaster has been powering the exchange since 2008.

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Microsemi Ships Solid State Disk Drive
Aliso Viejo-based Microsemi, the developer of semiconductor products, reported this morning that it has shipped a new, solid state disk drive, with ruggedized SATA connectors. The new drive is aimed at the defense and industrial market. According to Microsemi, its solid state drives solve the sever shock and vibration issues in those industries. Capacity and pricing of the new devices was not announced.

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Leap and T-Mobile In Spectrum Deal
San Diego-based Leap Wireless International, the operator of the Cricket prepaid wireless phone service, said today that it is in a license exchange agreement with T-Mobile USA and Cook Inlet/VS GSM VII PCS, LLC, which is part owned by T-Mobile. According to Leap Wireless, the firms have agreed to exchange wireless spectrum in various markets with Leap's own venture Savary Island Wireless, LLC. Exact terms of the deal wre not announced, however, Leap said the move would provide its with spectrum (More info...)

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StorageDNA Power James Cameron Project
Irvine-based StorageDNA, the provider of storage and archiving products, reported today that its products have been selected for use in James Cameron's DEEPSEA CHALLENGE project. Financial impact of the win was not disclosed. StorageDNA said its product will be used for archive workflow for LTO-5 backup of data of Cameron's dive to the Mariana Trench, as part of the setup for production firm Digital Pictures.

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Optimer Pharmaceuticals In Executive Turmoil
Publicly held San Diego firm Optimer Pharmaceuticals, a developer of biopharmaceutical products, appears to be in the midst of a major executive overhaul. According to the firm this morning, its board has removed Dr. Michael Chang as Chairman, terminated its CFO, John D. Prunty, and terminated VP Dr. Youe-Kong Shue. The company said the move came due to an issue involving record keeping and options grants. The firm said it has named Hank McKinnell as Chairman of the firm, with General Counsel an (More info...)

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FlexEnergy Names CEO
Irvine-based FlexEnergy, a developer of gas turbines and other energy equipment, said Friday that it has named Jay Mitchell as its new Chief Executive Officer. Mitchell was most recently the firm's President and Chief Operating Officer. Mitchell has also served at T-3 Energy, Pride International, and other firms. FlexEnergy is venture backed by SAIL Capital Partners and RNS Capital Partners. FlexEnergy's equipment is used to convert methane waste gas into clean energy.

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IT Open House / Job Fair at DreamHost LA, April 12th
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