Tesla likely headed to SoCal
The Chronicle is reporting that electric carmaker Tesla Motors will “probably” build its Model S family sedan in Southern California. Tesla CEO Elon Musk gave reporters the news as he unveiled the $49,900 sedan at a press conference Thursday.
City officials had hoped to lure the San Carlos-based carmaker to Alameda Point, in part because the $350 million loan the company hopes to get from the federal government to build its new assembly plant is conditioned on it finding a “brownfield” property to build it on.
The company has started taking orders on the Model S and is hoping to start taking orders in 2011, per this press release on its website. It had previously planned to build a plant in San Jose (and before that in New Mexico).
The San Francisco Business Times is reporting that Alameda-based BioTime partner Hospira is slashing its workforce by 10 percent and streamlining its product offerings to save money. Hospira manufactures BioTime’s Hextend, which is used in emergency and battlefield surgery and is BioTime’s near-exclusive revenue source. It’s not clear from the story or Hospira’s press release how the cuts will affect BioTime’s product.
A little bit of good news here, though: BioTime has moved into stem cell therapy and has created a new division, Embryone Sciences, for research in this area. The company has leased an 11,000-square-foot facility in town for this purpose and recently entered into an agreement with Chicago-based Reproductive Genetics Institute to market new stem cell lines.
Also from the Business Times: Alameda drug maker Avigen has fired its CEO, Kenneth Chahine, and two other top officers in the midst of a hostile takeover bid battle. It has stopped merger discussions with San Diego-based MediciNova and could liquidate if nominees to its board from the company’s largest shareholders are not elected today. The battle over the company’s fate has been going on for five months, since the company’s drug to control muscle tightness in multiple sclerosis patients failed in clinical trials.
From PR Newswire: Telecare Corporation has appointed Pat Doyle to Vice President of Sales, Hospital Contracting. In his new position, Doyle will focus on expanding Telecare’s experience in delivering and managing acute psychiatric care services. Prior to joining Telecare, he was Vice President of Development for MileStone Healthcare. Doyle also spent 13 years as Senior Vice President of Development at Horizon Health Corporation.
Doyle received his Bachelor of Science degree from Ohio State University and a Masters of Business Administration from the University of Dallas.