"Compelling opportunity" for the German airline giant Lufthansa is buying a 19% stake in U.S. budget carrier JetBlue Airways for US$ 300 million. This transaction represents the first significant investment by a European air carrier in a U.S. point-to-point air carrier. "The investment reflects the confidence we have in JetBlue's quality and growth potential", said Jens Bischof, Vice President The Americas for Lufthansa. "It presents Lufthansa with a compelling opportunity to invest in the U.S. point-to-point carrier market." Lufthansa buys 42 million newly issued shares at US$ 7.27 each. It will also gain a seat on the discount airline’s board. The deal, coming on the heels of the Open Skies treaty, was made also with the idea of exploring a commercial cooperation in the future, Bischof added. "With its outstanding position in New York, JetBlue ideally complements Lufthansa's existing setup of global alliances and cooperations." The stake sale may also help shore up the finances of JetBlue. "The agreement will improve our balance sheet and give us greater financial flexibility as we move into 2008”, said JetBlue's CEO Dave Barger. In January, Daimler's two-seat Smart Fortwo is arriving in the U.S. and planning to compete in the most difficult automobile market in the world. Seeing volatile fuel prices, increased urban congestion and a mindset of environmental responsibility, "the smart fortwo is the right car, at the right time for U.S. drivers", Daimler said in a press release. Chairman Dr. Dieter Zetsche is convinced that the Smart Fortwo will be a resounding success: "Europeans are enthusiastic about the smart and we are beginning to see Americans share this enthusiasm." 50,000 Americans have tested the Smart in a U.S. road show, over 30,000 of them have reserved a vehicle. Zetsche added that he could well imagine a large-scale project in cooperation with a partner city in the U.S. to test the electrically powered Smart Fortwo.
The new year begins with a new German American Trade magazine! After more than a decade with the same layout it was time for a change. The new design and content of the 2008 relaunch reflect the results of a reader survey but also a long thought process. The new GAT will be more informative by putting “Spotlights” on a wide range of transatlantic topics and offer various “Business Tools” to give hands-on advice for everyday business situations. In the exciting new “GAT on-Site” series about Dream Catchers the magazine will portray individuals who have followed their dream of emigrating to the U.S. to set up their own business. Furthermore, readers will be given a short review on past GACC events in the new section “From the Regions” as well as an outlook on upcoming Chamber highlights and trade fairs in the “Event Calendar”.
 >>> To learn more about the new design and content, see the upcoming January/February issue of the German American Trade magazine. In response to a “record number” of U.S. investors who own foreign securities, and to promote high-quality accounting standards that transcend borders, the Securities and Exchange Commission (SEC) will accept financial statements from foreign companies that do not reconcile to U.S. Generally Accepted Accounting Principles (GAAP). The SEC decision only applies to foreign companies that prepare financial statements in accordance with International Financial Reporting Standards (IFRS) established by the International Accounting Standards Board (IASB). “This is a significant breakthrough for transatlantic economic relations,” said Bernhard Welschke, President of the Representative of German Industry and Trade (RGIT) in Washington, DC. “As leading investors in the United States, German companies stand to benefit from this decision.”
 >>> Read the full story, including the RGIT's advices for German companies, in the upcoming January/February issue of the German American Trade magazine. Due to the enormous success the “Renewable Energy Conference New York” has had over the past three years, the German American Chamber of Commerce New York (GACC NY) organizes the 4th conference in June 2008. This year's conference will focus on bioenergy and biofuels. The aim of the Renewable Energy Conference New York is to initiate a transatlantic exchange of current technological and policy issues in regard to the deployment of renewable energy and to foster relations between U.S. and German companies. The conference will signify a professional focus point for major players in the renewable energy market. The event is sponsored by the German Federal Ministry of Economics and Technology and organized by the GACC NY in collaboration with the German Energy Agency.
The GACC NY is also supporting the two day Green Power conference on "Voluntary Carbon Markets" which will be held in New York City from February 5-6, 2008. It will bring together offset buyers and sellers, financiers, project developers and carbon experts, as well as new entrants to the market. For more information about both the conferences contact GACC NY's Renewable Energies specialist Sebastian Göres on sgoeres@gaccny.com. For the Ministry of Economics in Baden-Wurttemberg, the consultancy firm Rambøll Management is currently carrying out a survey among former residents of Baden-Wuerttemberg who have moved to a foreign country. The company aims at finding out more about the residents' reasons to leave Baden-Wuerttemberg and the experiences they made abroad.
If you used to live in Baden-Wuerttemberg before moving to the United States, please participate in this survey. The results will, of course, be treated anonymously. As a part of the survey, you also have the opportunity to test your knowledge about Baden-Wuerttemberg and find out if you still are familiar with what is going on in Baden-Wuerttemberg. The 68th International Trade Fair for Sports Equipment and Fashion, ispo winter 2008, will take place from January 27-30, 2008 in Munich. Last year almost 2,000 exhibitors participated, and this year stand space is already sold out. Visitors will find an exhibition area of almost 2 million square feet. With its new concept, ispo winter presents the entire international range of sports equipment, sports footwear and sports fashion in an absolutely unrivaled way.
+++++ Bosch Group acquired shares in Health Hero Network +++++ Nufern to be bought by German laser maker +++++ Manufacturer with German ties to settle in Aurora +++++ Munich Re to pay $352M for Sterling Life +++++ Daimler wins orders for 1,052 hybrid city buses +++++ Senate ratifies protocol to German-American tax treaty +++++ Bayer's Nunhems seed business acquires Paragon Seed +++++ Kavitsky becomes CEO of Allianz of America +++++ Wacker to acquire Air Products' stake in construction polymers joint ventures +++++ German and US astronomical institutions to boost cooperation +++++ BASF to reorganize its business into 6 segments +++++ Siemens sells Newport News plant to Continental +++++ >>> Read more news in the Ticker Archive |
