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State business leaders more optimistic

State business leaders are more optimistic about the economy than they have been for a year, according to the latest quarterly Colorado Business Leaders Confidence Index (BLCI), released this week.

The BLCI ticked upward for the first time in four quarters, to 43.6 from 41.7. But 46 percent of panelists still expected declining profits in the third quarter of 2008.

Expectations for the national economy moved from a record low of 30.3 to 35.8.

The BLCI is an economic survey conducted by the business research division of the Leeds School of Business at the University of Colorado Boulder, with the support of Compass Bank. An index above 50 indicates expansion; below 50 indicates contraction.

The most positive component of the most recent BLCI is the outlook for sales, which rose to 50.8 from 47.7. more

UPDATE 2-Philips consumer business holds up amid econ gloom

AS: Quote, Profile, Research) said its consumer business had held up in weaker economies and posted second-quarter results in line with expectations, reassuring investors and sending its shares up over 7 percent. Amsterdam-headquartered Philips (PHG.N: Quote, Profile, Research) said on Monday earnings before interest, tax and amortisation (EBITA) rose 7 percent to 413 million euros ($648.8 million).

Earnings were influenced by a number of extraordinary items, including 121 million euros of restructuring or acquisition-related charges and a 56 million euro gain on the sale of Philips' TV set-top box business.

"When you exclude all the 'funnies', EBITA and EBIT are spot on our estimates. It's reassuring that they are seeing continued growth in the second half for medical and emerging markets," ING analyst Marcel Achterberg said. more

Obrem withdraws challenge to Micrel board Silicon Valley / San

Micrel Inc. said Wednesday that formerly dissident shareholder Obrem Capital Management LLC has withdrawn its slate of nominees for the company's board and agreed to support company nominees at the 2008 annual meeting.

"We are pleased with the ongoing dialogue we are having with Obrem and gratified that we are enjoying a constructive relationship with our largest independent shareholder," stated Ray Zinn, president and CEO of Micrel. "We continue to focus on creating value for all Micrel shareholders and are pleased that Obrem is supportive of our efforts."

Andrew Rechtschaffen, managing member of Obrem Capital, said the firm believes Micrel "has meaningful opportunities to grow and enhance its competitive position ... We look forward to being a long-term shareholder and participating in Micrel's future success."

In May San Jose-based Micrel (NASDAQ:MCRL) said that based on information provided by its proxy solicitor, shareholders rejected an attempt by Obrem Capital Management to replace the company's board and also voted down OCM's proposal to expand the board to six members. more

5 in state House race focus on jobs, economy

Grundy believes lawmakers must step up efforts to retain businesses in Michigan and lure new ones to the state to improve the state's health. He also thinks his background as a business development manager equips him the best for that task.

"We've had lots of lawyers and bean counters, but we haven't had enough real business people in Lansing," he said.

Meanwhile, Moore's plan for helping the district's residents focuses on promoting education -- especially for children.

"I'm also pledging to donate $10,000 of my salary to my district to help its citizens, if I'm elected," said Moore, who boasts more than 20 years experience in the health care industry. The base salary for a state representative is $79,650.

And Murphy, a mediation specialist, believes his skill as a negotiator makes him the best-suited candidate. more

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