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PV Powered Announces Acquisition by Advanced Energy

Combined solar inverter product lines lead the industry in efficiency and reliability

PV Powered, Inc., the innovation leader in solar inverter reliability, performance, and serviceability, announces today that it has signed a definitive agreement to be acquired by Advanced Energy Industries, Inc. (AE) of Fort Collins, Colorado (NASDAQ:AEIS).  The acquisition will bring together the two US-based industry leaders, whose combined technology and product platforms will create the broadest grid-tied inverter offering in the rapidly-growing solar photovoltaic market, spanning residential, commercial, and utility-scale solutions.

“The employees and management of PV Powered are excited at the prospect of joining Advanced Energy,” said Gregg Patterson, chief executive officer of PV Powered. “Both organizations share a common mission to deliver the innovations our customers are asking for in efficiency, reliability and uptime that will maximize the 20+ year financial returns of solar projects. We look forward to delivering the combined synergies of two industry leading companies to our customers.”

PV Powered and Advanced Energy enjoy a collective history of industry-leading innovations, driven by a deep commitment to improving power conversion efficiency and inverter reliability. PV Powered was the first solar inverter company to design products that are tailored to the unique needs of the North American marketplace, with a rugged-purpose built construction, the widest operating temperature and voltage ranges; and the Smart Air Cooling™ system that delivers unprecedented inverter life and uptime performance. PV Powered’s commercial inverters were designed from the ground up for a 20+ year operating life and offer the industry’s first and most comprehensive 20 year extended warranty.

PV Powered’s commercial product portfolio ranges in size from 30kW to 1MW including the flagship 260kW product with industry leading 97% CEC efficiency and the widest DC operating voltage range in the industry. Its portfolio will immediately complement AE’s transformer-less inverters including its 250kW, 333kW and 500kW products.

“The combination of Advanced Energy and PV Powered will bring together two complimentary technology platforms and provide customers with the broadest range of solutions for residential to utility-scale solar installations,” said Hans Betz, chief executive officer of Advanced Energy.  “We believe this acquisition will firmly place Advanced Energy at the heart of the emerging and fast growing solar inverter market.”

After the acquisition is finalized, PV Powered will operate under the current management team as a wholly-owned subsidiary of Advanced Energy continuing to sell and support its full line of products from its Bend, OR facility.  The transaction will be subject to a number of other customary closing conditions and regulatory approvals including Hart Scott Rodino.

About PV Powered

PV Powered is the innovation leader for grid-tied PV inverters in the residential, commercial and utility markets, setting the industry standard for innovation in reliability and efficiency. Founded in Bend, Oregon in 2003, the company brings together one of the most experienced design teams in solar power electronics.  PV Powered was recently selected to receive a Stage 2 award under the Solar Energy Grid Integration System (SEGIS) program by the U.S. Department of Energy (DOE).  The company is leading a team of recognized distributed energy and smart grid partners in developing innovations that increase energy harvest, reduce the cost of PV systems, and remove barriers to high levels of PV grid penetration. For more information on the company, visit www.pvpowered.com.

About Advanced Energy

Advanced Energy® is a global leader in innovative power and control technologies for high-growth, thin-film manufacturing and solar-power generation.  Specifically, AE targets solar grid-tie inverters, solar cells, semiconductors, flat panel displays, data storage products, architectural glass and other advanced applications.

ABC Commission seeks public input for art placement

The City of Bend Arts, Beautification, and Culture Commission (ABC) is currently seeking the public’s opinion on where to place the ArtMatch inventory of various pieces of art.  Fourteen locations throughout the City are up for consideration.

ArtMatch is a collaboration of the Celebrate Bend Foundation, Brooks Resources Corporation, Art in Public Places, and the Arts, Beautification, and Culture Commission.  ArtMatch was founded in 2006 to raise money for public art in Bend.

To see the locations up for consideration and cast your vote online, visit http://www.surveymonkey.com/s/CoB_PublicArt2010.  The survey ends March 8, 2010.

The ABC Commission acts in an advisory capacity, making recommendations on the appropriate role for the City to take in supporting the arts, beautification and culture, and annually identifies the appropriate City involvement with emphasis on community gatherings, events, cultural tourism and the arts.  For more information, contact Patty Stell at 541-388-5505 or pstell@ci.bend.or.us, and Pamela Trow-Johnson at 541-322-0909 or pamela@501drive.com.

Diocese of Baker and St. Charles Bend end official relationship

In a difficult decision for all those involved, the Catholic Diocese of Baker announced today its intention to dissolve the official sponsorship relationship of St. Charles Bend by the Catholic Church.
The Sisters of St. Joseph of Tipton, Ind., founded St. Charles Bend 92 years ago with a mission to serve all patients in need in Central Oregon. Although the hospital became a community nonprofit organization in the 1970s, it has maintained a relationship with the Catholic Church and has continued voluntarily to follow the Catholic Ethical and Religious Directives for Health Care Services.
Recently, hospital administrators and Bishop Robert Vasa of the Diocese of Baker have respectfully disagreed on the meaning of some of those directives. In particular, St. Charles Bend offers patients the service of tubal ligations, a form of permanent female reproductive sterilization, which, according to Vasa, goes against the Church’s teachings.
“It is my responsibility to ensure the hospital is following Catholic principles both in name and in fact,” Vasa said. “It would be misleading for me to allow St. Charles Bend to be acknowledged as Catholic in name while I am certain that some important tenets of the Ethical and Religious Directives are no longer being observed.”
Vasa asked St. Charles Bend in 2007 for an audit of the hospital’s compliance with the Ethical and Religious Directives. The hospital has been transparent about its practices and openly provided the Bishop with the information he requested. Since that time the two parties have had a number of discussions about the future of the hospital as a Catholic institution.
“We are saddened by this decision because of the 92 years of history the St. Charles Bend hospital has had with the Catholic Church,” said James A. Diegel, FACHE, president and CEO of Cascade Health-care Community, the parent company of St. Charles Bend. “But, we have an obligation to provide comprehensive health care services to our patients while remaining true to our values of compassion and caring for all.”
Diegel said the CHC Board of Directors has every intention of continuing to use the Ethical and Religious Directives as they have been historically interpreted by the hospital and will likely adopt its own version of the ethical directives in the near future. Vasa has encouraged the hospital to stay as close to the Directives as possible in the future.
“St. Charles has gradually moved away from adherence to the requirements of the Church without a clear knowledge that it was doing so,” Vasa said. “Unfortunately, that distance is now too great to sustain a formal sponsorship relationship but I believe that using the Church’s Directives as a basis for their local ethical guidelines is a good idea.”
Vasa and Diegel agreed that for all practical purposes very little will change at St. Charles Bend as a result of this decision. However, Catholic Mass will no longer be celebrated in the hospital’s chapel and all items considered Catholic will be removed from the hospital and returned to the church. St. Charles Bend’s name will remain the same and the cross will remain on top of the hospital building.
“We are not going to abandon who we are,” Diegel said. “The mission of the hospital, to serve all in a spirit of love and compassion, and the Catholic values the hospital was founded on, will continue to guide St. Charles Bend’s leaders and caregivers.”

Ready, Set, Buzz: Bend Marketing Powerhouse, Buzztag, Debuts at WinterFest

Global Bend-born company engages festival-goers with online contests, social media

February 3, 2010 – Bend, Oregon – Buzztag, a new, international sales and marketing company, announced today that it will celebrate its launch with fun and games, interactive media style, at Bend WinterFest from February 12-14, 2010.

Videos submitted from across Central Oregon with the theme of “Your Favorite Winter Sports” will compete and unfold before your eyes. Logo shirts will be launched from the “Buzz Blaster.” A free milk extravaganza with one of our favorite local markets will be announced for WinterFest weekend (cookies not included). A Twitter contest is already underway with prizes to “flip” you out. It’s all in a day’s work for Buzztag.

“We wanted to show Bend how excited we are to be launching Buzztag right now in this community,” said Brenda Speirs, Queen Bee and co-founder of Buzztag. “Having lived in Bend for ten years, we are confident that this is a great time and place to start our new company with a concept we believe in, in a community we love.”

Buzztag’s launch at WinterFest will spotlight local companies Newport Market and Atlas Smart Homes and demonstrate how Buzztag combines cross-promotion and social media to connect with new customers and build excitement around a client’s brand. Buzztag blends a unique set of services including branded merchandise development, social media and collaborative Web 2.0 tools to create innovative outreach solutions for clients throughout the Northwest and beyond.

Brenda Speirs has been in Bend for 10 years providing branded merchandise to global Fortune 500 companies. Brenda co-founded Buzztag with the goal of providing branded items as part of a comprehensive marketing program, that are both unique and useful. Lyle Speirs, Chief Buzzbomb, co-founded the company with his wife Brenda after years in senior management at Apple Computer, KPMG/ExIS, Black Diamond Consulting and most recently Cisco Systems, Inc. Buzztag’s clients include global companies Cisco Systems, HP, Oracle, Pepsi.

About Buzztag

Based in Bend, Oregon, Buzztag is an innovative sales and marketing company that provides creative, integrated outreach solutions for a variety of client companies. Buzztag utilizes social media, branded merchandise and interactive, collaborative technology, drawing on its team’s years in related fields. To find out more about the buzz Buzztag is creating, go to www.buzz-tag.com, and become a fan of the company on Facebook, Twitter and YouTube.

Facebook Data Center Coming to Prineville

Facebook, the popular social networking site that boasts more than 350 million users around the world, is coming to Prineville.

The company has already broken ground on a 147,000-square-foot data center in Prineville, which will be built to LEED Gold specifications.

Facebook officials hope to have the facility open within a year. Information: facebook.com/prinevilledatacenter

Mt. Bachelor Wants to Help You Learn a Snowsport

Ski Area to participate in statewide giveaway plus new season-long school group deals and innovative first timer options

As part of Oregon’s official Learn a Snowsport Month (LASSM) in January as declared by Gov. Kulongowski, Mt. Bachelor will be participating in a statewide season pass giveaway designed to introduce the public to snowsports. In addition to involvement in official LASSM promotions, Mt. Bachelor is launching a host of programs aimed at making entry into snowsports as hassle-free as possible. Programs include an offer aimed specifically at local school groups called the Snowsports Discovery program, the new Ski or Ride in 5 programs for first timers, and special low hassle/low price teaching programs at our free Carrousel chairlift. Details are below. A Snowsports School video is here: http://tiny.cc/jKTsg

LASSM Ski Oregon Pass Giveaway

Ten Oregon Ski Areas will be giving away a season pass as part of Oregon’s LASSM. Guests who enroll a friend into a Beginner Workshop or Max 5 program at West Village rentals during January can be entered to win. The winner from each resort will be drawn by February 15. More information is available at www.learnasnowsport.org and www.mtbachelor.com.

Snowsports Discovery for Local Schools

This popular option for school groups returns for another season. Over 2000 students from 20 schools took advantage of the program last year. Low priced package deals including rentals, lessons and lift tickets for students come along with a free lift ticket for chaperones for every 12 students enrolled. Ages 5-18. Inquire with your school administrators in regards to participation as this program is available to school organized groups only. All schools have been directly invited by Mt. Bachelor.

Ski or Ride in 5

The new “Ski or Ride in 5” program offers 5 beginner lessons including rentals and lift tickets for $199. The five lessons are to be used throughout the season with special “graduation presents” for guests who complete the program, including free skiing for the remainder of the season and discounts on next year’s season pass. The introductory offer is exclusively for those new to snowsports.

Carrousel Free Chairlift

At the Sunrise Base Area guests can take advantage of our free Carrousel chairlift for learning. In addition, the ski area offers a Tips and Tools program where the Carrousel learning slope is staffed with teaching pros to help guests learn while taking advantage of the free lift. This lesson program is a maximum of 60 minutes and it includes rental equipment. Tips & Tools Lessons are offered on weekends and holidays for ages 6 & up.  Please plan on arriving at the Sunrise Rental Shop at least 1 hour prior to the lesson start time. Lessons start at 10 a.m., 11 a.m., and 1 p.m.

“Our focus on kids programs and helping guests get to the next level continues. What is new this season is a revived focus on welcoming those who have yet to try out skiing or riding, both adults and children. We love being outside in winter and we love sharing that experience with others. Our involvement in LASSM opens new doors for many in our region who have yet to ski or ride,” said Amy Ohran, Snowsports School Manager at Mt. Bachelor.

About Mt. Bachelor
Mt. Bachelor is the sixth largest ski resort in North America, offering 3,683 acres of lift-accessible terrain. The mountain features 10 lifts, seven of which are Express Quads, plus two tubing lifts and wonder carpet and an average annual snowfall of 370 inches. The previous two seasons have seen snowfalls over 500 inches. Mt. Bachelor also features terrain parks, 56K of groomed and tracked cross country trails, snowshoeing, tubing, sled dog rides and summer attractions. For weather conditions, news and events visit www.mtbachelor.com.

Rotary Tree of Joy Awaits Gift Buyers

Local Rotary Clubs in Bend kicked off their annual Tree of Joy project over the Thanksgiving weekend. The Tree of Joy can be found at Santa Land in the Old Mill District next to Allison’s Kitchen across from Saxon’s Fine Jewelry.

The Tree of Joy offers a chance to buy presents for children and seniors in the Bend and LaPine areas who are unable to experience a joyful holiday without local contributor’s generosity. The program has become a tradition for many Central Oregonians as they find ways to give directly to others during the holidays.

The effort begins with the Salvation Army, which processes Christmas assistance applications and furnishes names of children 16 years and younger and senior citizens to the Rotary Clubs. From this information tags are prepared and placed on the Tree of Joy. Generally, the tags indicate a need for some article of clothing or toy preferences and disclose the first name, age and clothing size of the recipient.

How do you participate in this program? Go to Santa Land in the Old Mill District and look for the Christmas tree with tags hanging from it. Pick one (or more). Then go shopping and buy a present or presents for the children or seniors, who, without your help, wouldn’t have a Christmas.

The items should be returned to the Tree of Joy, gift-wrapped, with the tag attached. Gifts should be returned before December 15, 2009.

Volunteers throughout the holiday season will deliver more than 3,000 gifts to local people in Information: Pamela Hulse Andrews 419-7596 or Walt Schloer 388-0769 or 280 3465.

Thirteen Defendants Charged in $19 Million Bank Fraud

Cases Relate to the Collapse of Desert Sun Development in Bend, Oregon

EUGENE – A federal grand jury sitting in Eugene yesterday returned indictments against thirteen individuals on a variety of mortgage and loan fraud charges arising out of the collapse of Desert Sun Development (DSD), a company previously headquartered in Bend, Oregon. From 2004 through 2008, DSD built commercial buildings and residential housing throughout Central Oregon. According to the indictments, DSD principals and other defendants caused financial institutions to lose more than $19 million. In total, five separate indictments were returned. Arraignments of all defendants are scheduled for December 16, 2009, before the Honorable Magistrate Judge Thomas Coffin in Eugene.

“These indictments represent a significant step in the government’s efforts to detect and prosecute mortgage fraud,” said Acting U.S. Attorney Kent S. Robinson. “The conduct alleged in these indictments is typical of what has caused so much havoc in the mortgage and financial sectors. We will continue to seek charges whenever developers, businessmen, bankers, or loan officers are alleged to have made false statements to financial institutions.”

Robinson thanked the Federal Bureau of Investigation, the Internal Revenue Service, and the State of Oregon, Division of Finance and Corporate Securities, for their combined investigative efforts.

The first indictment charges three DSD principals (Tyler Fitsimons, 31, of Prineville; Shannon Egeland, 35, of La Grande; and Jeremy Kendall, 33, of Redmond); and a Bend businessman (John Partin, 65) with conspiracy, bank fraud, making false loan applications to banks, and money laundering, focusing on commercial construction projects. In total, it is alleged that various lending institutions loaned in excess of $25 million to DSD for its commercial construction projects, and suffered a loss of more than $9 million. The indictment alleges that the defendants sought construction financing for five commercial buildings in Bend and Redmond, Oregon which were never built. As part of the scheme, the defendants are alleged to have made representations that construction was underway, when it was not. John Partin, owner of Advance Steel in Bend, is alleged to have issued false invoices for steel building kits for the non-existent buildings. The indictment also seeks forfeiture of a Ferrari, two Viper automobiles, and other assets related to the fraud and money laundering allegations.

In a separate indictment, Robert Brink, 58, of Junction City, is charged with making false statements to Umpqua Bank regarding DSD’s construction loans. Brink was a construction loan officer at Umpqua Bank. The indictment alleges that on five separate occasions he filed inspection reports with Umpqua Bank certifying that construction was underway on DSD projects, when in fact it was not.

A third indictment charges conspiracy, bank fraud, and false statements to banks in connection with DSD’s residential real estate investment program. The defendants in that indictment include Fitsimons, Egeland, Kendall, a fourth DSD employee (Garret Towne, 29, of Culver, Oregon), as well as two mortgage brokers (Shaun Little, 41, of Bend; and Del Barber, Jr., 44, of Bend), a bank loan officer (Jeffrey Sprague, 46, of Bend), a loan processor (Barbara Hotchkiss, 40, of Redmond), and a building materials supplier (Kevin Palotay, 46, of Bend).

The indictment alleges that defendants schemed to provide false statements to financial institutions to finance the purchase or construction of residential properties. The allegations include that defendants inflated applicant’s income and temporarily parked DSD funds in the applicant’s accounts to obtain false proof that the borrowers had independent funds available to them. The two mortgage brokers, loan officer and loan processor are alleged to have assisted in preparing and approving false loan applications, causing them to be sent to financial institutions.

Finally, Palotay is alleged to have provided a false invoice to create the false appearance that DSD had purchased construction materials.

In a separate indictment, Teresa Ausbrooks, 47, of Bend, is charged with bank fraud. She is alleged to have made false statements relating to her income and debts in an application to finance DSD’s construction of a house for her.

In the final indictment, Michael Wilson, 58, of Murrells Inlet, South Carolina, is charged with bank fraud. Wilson is alleged to have been DSD’s residential construction superintendent.

The indictment alleges that DSD president Tyler Fitzsimons agreed to sell Wilson a $500,000 home built by DSD. The indictment alleges that, to qualify for the loan to purchase this property, Wilson made false statements about his income and assets.

“The economic hit that a community like Bend takes in a case like this one is very real,” said Arthur Balizan, Special Agent in Charge of the FBI in Oregon. “When a development company collapses under the pressure of fraud – as is alleged in this case – we are left with millions of dollars in losses, empty lots and abandoned buildings. Everyone loses.”

“The impact from the types of crimes alleged in these indictments cannot be overstated,” said Kenneth J. Hines, the IRS Special Agent in Charge of the Pacific Northwest. “Similar conduct surely played a role in shaking the confidence in our financial system last year. Identifying and exposing those who enrich themselves through criminal means is a duty we wholeheartedly accept as federal law enforcement officers. “

An indictment is only an allegation of a crime, and all defendants should be presumed innocent until proven guilty.

This case is being prosecuted by Assistant U.S. Attorney Scott Bradford.

Sen. Wyden Looks for Answers on ARC Loans

Letter from Oregon Senator Ron Wyden to the administrator of the U.S. Small Business Administration:

Dear Administrator Mills:

In the American Recovery and Reinvestment Act (ARRA) passed last February, Congress directed the Small Business Administration (SBA) to start making emergency bridge loans to small businesses. The clear intent of the legislation was for the money to reach struggling Main Street businesses as quickly as possible.

ARRA states that the loans are intended to be quickly disbursed to small businesses “experiencing immediate financial hardship.” This is emergency assistance, meant to pay small businesses’ existing bills, and Congress gave the borrowers up to six years to repay the loans. I am concerned that SBA took this relatively simple mandate and added layers of complexity which Congress did not intend. The result appears to be a program that, as of today, has only been marginally helpful to the small businesses which desperately need it.

In mid-June, the SBA began to guarantee the emergency loans worth up to $35,000 as part of its new America’s Recovery Capital (ACR) program, and, as I understand it, announced plans to lend all of the ARC funds within six months. However, five months since the ARC program began – and almost nine months since the recovery bill passed – Oregon businesses say they still can’t get the emergency loans.

They are not alone. Oregon is one of 10 states with 10 or fewer banks making ARC loans. In fact, it has come to my attention that more than one quarter of the ARC loans have been made in just 3 states – Minnesota, Wisconsin and Utah – and more than half of all ARC loans have been made in just 10 states. By contrast, about 50 ARC loans have been made in Oregon, which is less than 2 percent of the total nationwide.

I would appreciate hearing from you regarding the unusual regional disparity in this program which was designed to address problems nationwide. In addition, I would appreciate your specific attention to the following concerns:

Clearly, Congress intended the ARC program to immediately support U.S. small businesses to weather this recession. Instead, I’m told the opposite is occurring: that the administrative burden on banks and applicants equals or exceeds that required for a traditional SBA loan of up to $1 million.

It has come to my attention that minority and women-owned businesses are having particular difficulties participating in the ARC program. Can you tell me if there is a national disparity with regard to these businesses’ ability to participate in the program?

One SBA requirement is the demand for property collateral to secure ARC loans. I have been informed that, by itself, this requirement poses a significant obstacle to small business participation in the program. While the recovery bill addressed the issue of collateral, it stated that SBA “may accept any available collateral, including subordinated liens, to secure (the) loans.” The clear intent was flexibility, yet Oregon businesses say current SBA collateral requirements have either diminished the value and associated effectiveness of the ARC loans or prevented them from being funded altogether.

The SBA’s treatment of collateral also illustrates the burden it has imposed on the private banks that must execute the loans. While the SBA promises to repay banks the value of any ARC loan that fails, it will pay them nothing until they have liquidated all of the borrower’s collateral worth more than $1,000. This delay in repayment forces the banks to assume the costs of any asset liquidation, making the program more expensive and less attractive. Perhaps the SBA can review whether or not these repayment constraints deserve reconsideration.

I appreciate your timely consideration of, and subsequent response to, these questions. Oregon small businesses continue working through the challenges presented by this recession, and it is extremely important to me that the tools provided to SBA in these challenging times be put to immediate and effective use.