Bothell-based SonoSite Inc. announced a new technology Tuesday that it said makes needles show up much better in ultrasound scans. The technology intensifies the brightness of the needle making it clearly visible during a steep angle approach to a deep target, said Jim Gilmore, SonoSite’s senior vice president of product innovation and delivery. the company said it a news release. He said it solves the problem of “lost needle phenomenon,” an issue since the creation of ultrasound devices. The company, an early developer of handheld ultrasound devices, worked on the issue for two years, collaborating with physicians worldwide “to break new ground,” officials said.
GE offers help to improve power grid
General Electric said Tuesday that it will pledge $200 million to fund new research and development projects meant to create a more energy efficient and environmentally friendly power grid. GE and three venture capital funds will solicit ideas from entrepreneurs, researchers and startups over the next 10 weeks. Awards will be announced in November. The fund will focus on smart-grid technology designed to improve the nation’s energy network from the power plant to the home. That includes using alternative energies such as wind power and developing new products that cut down on energy waste in houses. GE has made a big push into the sector, which Chief Executive Jeffrey Immelt estimated is worth up to $20 billion but could grow to $120 billion by 2020.
Bailout inspector eyes housing aid
The special inspector general for the financial bailout will examine how 10 states were selected for an Obama administration plan to provide $2.1 billion in assistance to areas hit by the housing bust. Bailout watchdog Neil Barofsky is undertaking the audit in response to a request by Rep. Darrell Issa, R-Calif., according to a letter released Tuesday by Issa’s office. The Treasury Department has been running the government’s “Hardest-Hit” fund, which is stocked with financial rescue money. Barofsky also plans to examine whether state-designed programs that are receiving assistance differ from existing government efforts, the letter indicates.
Borders to sell off its stationary business
Borders Group Inc. will sell its Paperchase Products Ltd. stationery unit to British private investment firm Primary Capital Ltd. for $31 million, the bookseller said Tuesday. Shares rose nearly 11 percent in midday trading. The move is Borders Group’s latest to cut costs and improve profitability since financier Bennett LeBow invested $25 million in the retailer in May, becoming the company’s largest shareholder, chairman and chief executive. Borders will continue to buy and carry Paperchase products in its U.S. stores. The company bought a majority interest in Paperchase, based in the U.K., in 2004 for $24.1 million.
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