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Thursday, Feb 2, 2023

Business Briefs: Capstone Turbine, AEG, Jacobs Engineering, Alcoa Fastening Systems, LTC Properties

– Capstone Turbine Corp.

, a Chatsworth-based producer of microturbines, named Walter “Chuck” McBride as executive vice president and chief financial officer to replace Karen Clark, effective Monday. Clark resigned from the position to “pursue other interests.” McBride most recently served as executive vice-president and CFO of First Consulting Group, Inc. He will receive a 10-year stock option grant to purchase 500,000 shares of Capstone and an additional grant of 500,000 shares after completing six months of employment.

Anschutz Corp.’s


unit, XM Satellite Radio Holdings Inc. and America Online Inc. formed a joint venture to deliver live and on-demand concerts and comedy shows via the Internet, satellite, wireless and other platforms. The companies named Kevin Wall, the executive producer of Live 8, as chief executive of the new company, called Network Live. The shows will mainly be staged at AEG-owned arenas, such as Staples Center in Los Angeles, under the control of AEG’s concert-promotion unit, AEG Live. The programming will be broadcast on AOL’s Web site aol.com and to XM’s radio subscribers.

– Jacobs Engineering Group Inc.

and its joint venture partner, MWH Americas, Inc., received a contract extension worth $25 million from the South Florida Water Management District to supply management services for the state’s Everglades restoration project. The extension adds five years and $25 million to the current contract, bringing the total to $53 million.

– Alcoa Fastening Systems

, a Torrance-based unit of Alcoa Inc. , signed a multi-year contract to supply Lockheed Martin Corp. with millions of high-performance fasteners plus advanced installation systems for a wide range of military aircraft programs through 2010. Terms of the agreement were not disclosed.

– LTC Properties Inc.

agreed to sell 1.5 million common shares in a registered direct placement to a number of institutional investors. The Malibu-based real estate investment trust expects to receive net proceeds of nearly $32.6 million and will close the sale on July 15. The company intends to use the proceeds for general corporate purposes, including investments in, and acquisitions of, health care properties and for funding mortgage loans.


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