Medco Medical Supply will take 46,000 square feet in Round Up, which represents a 72 percent increase over its current amount of space. Medco leases 27,000 square feet at Liberty’s Legacy Center Business Park, also in Northwest Houston.

Medco will move to the 12-acre Round Up Business Park in December.

Round Up consists of two buildings at 10301 and 10305 Round Up Lane near North Sam Houston Parkway that contain nearly 228,000 square feet of space business card. The project was empty when Liberty bought it from developer Caldwell Cos. in July.

Liberty (NYSE: LRY) owns more than 4 million square feet of industrial space in the Houston area. The Malvern, Pa.-based real estate investment trust has 78 million square feet in its nationwide portfolio of industrial buildings.

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A combination of cost-cutting tactics and an improving economic climate have driven tech-sector profits way up this year. In the second quarter, technology industry earnings are on track to rise 66% compared to last year, according to Thomson Reuters.

That has led to massive stockpiles of cash at some of the world’s tech giants. The eight biggest companies in the industry are sitting on a collective stash of more than $194 billion.

But CEOs playing the role of Scrooge McDuck won’t impress many shareholders. With cash earning next to nothing nowadays, investors want companies to put their cash to good use. The result: A tech M&A frenzy that industry analysts think is just getting started.

Companies can use excess cash to pay a dividend to shareholders, but there’s only so much businesses want to give away, and tech companies are notoriously stingy with their dividend payments. Companies can also buy back their own shares, but some argue that strategy isn’t a great deal for shareholders. Another path is to invest internally, ramping up spending on research, development and hiring.

Instead, tech companies have lately gone with a third option: buying up companies that catch their eye.

In August alone, Intel (INTC, Fortune 500) bought McAfee for $7.7 billion and acquired Texas Instruments’ cable modem unit, IBM (IBM, Fortune 500) bought Unica for $480 million, and Google (GOOG, Fortune 500) bought Slide for about $200 million. Dell (DELL, Fortune 500) bid $1.15 billion last week for storage company 3PAR, but Hewlett-Packard outbid it on Monday to the tune of $1.6 billion — after scooping up security software company Fortify last week.

Analysts say the buyout boom is fueled by companies’ reluctance to gamble on hiring and internally developing new product lines. It’s safer — and often cheaper — to buy up those others have built.

"Everyone’s done a great job at cutting costs and making themselves profitable, but investors are asking where the growth is," said Eric Johnson, director of the Center for Digital Strategies at Dartmouth University’s Tuck School of Business low interest personal loan. "Cost-cutting has created a toxic environment in many firms for internal investments, and you can’t beat the speed to growth of an acquisition."

There is often a snowball effect in acquisitions, leading some companies to snap up smaller companies simply so they don’t get left out of the action.

But it also doesn’t hurt that the cost of capital is extremely cheap right now, and a lot of potential takeover targets are attractively priced. The economic downturn has hammered many stocks, allowing buyers to offer generous premiums on valuations that are much lower than they would have been a few years ago. IBM purchased Unica at a 120% premium, and Intel offered 60% more for McAfee’s shares than they were going for at the time. HP’s 3PAR (PAR) offer is a staggering 149% higher than 3PAR’s shares traded at before Dell announced its offer.

Those three takeover targets do business in analytics, security and storage, respectively — high-growth areas that yield technology applicable to a wide array of business uses. They’re exactly the kinds of companies that make attractive takeover bait.

The question is how long this trend will last. So far this year, there have been 21 billion-dollar deals worth a total of $46.4 billion, according to The 451 Group. That compares to just six last year, totaling $19.7 billion.

Some say the coast is clear for many more deals.

"There are still plenty of attractive transactions to be done," said Murray Beach, managing director of TM Capital’s technology group. "Our clients’ pipeline suggests this trend will continue, and there will be a pretty significant rise in these deals for the foreseeable future." 

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The offer, which JetBlue (JBLU) originally debuted last year, is on sale through Aug. 20 and is good for travel between Sept. 7 and Oct. 6.

Jet setters can choose between two deals: a $699 package that allows them to travel any day of the week to any of Jet Blue’s 60 domestic and international travel destinations; or a $499 package that excludes travel on Fridays and Sundays.

Jet Blue spokeswoman Allison Croyle said that last year’s program "far exceeded expectations" and was "the most successful promotion in our company’s history." But she would not say how many packages were sold or how much money the airline made because she didn’t want to reveal this information to competitors. She did explain, though, that on the first day of the offer visitors to JetBlue’s route map surged 860%.

"I think it was very successful because it sold out sooner than they expected," George Hobica, air travel expert and president of Airfarewatchdog instant payday loan.com. He added: "The equivalent in advertising value was enormous. It’s a brilliant marketing ploy."

The price of the most expensive option has gone up since last year, when JetBlue offered its seven-day package for $599. Hobica said that it’s a better deal this year, even with the extra $100 charge, because fares are more expensive compared to 2009.

Hobica noted that JetBlue was offering the deal during a "very, very slow period" for travel. He also said the airline was offering the deal one week later than it did last year.

"I wonder if the Steven Slater incident delayed it," said Hobica, referring to the JetBlue steward who cursed out a plane full of passengers, deployed the emergency escape chute, and slid down to the tarmac, beer in hand.

JetBlue spokesman Steve Stampley, however, said the timing for the deal was "driven by the sequence of events in our marketing and activity calendars." 

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The 3rd District Court of Appeal in Sacramento decided that the mall’s rules regarding such conversations and another rule that prohibits shoppers from wearing clothes with religious or political messages are unconstitutionally vague and restrictive of free speech.

The case involves a youth pastor who was arrested in 2007 at the Galleria after talking to two other shoppers about his religious beliefs. The shoppers agreed to the conversation. However, a store employee who overheard the conversation that Matthew Snatchko was having with the shoppers complained and called the mall’s security guards. Charges were later dropped, but the Pacific Justice Institute sued, challenging the Galleria’s policy.

Galleria owner Westfield LLC is disappointed by the ruling and considering legal options, a spokeswoman said.

“Westfield has spent considerable time and effort, including working with legal counsel, to adopt reasonable rules governing conduct in our shopping centers,” spokeswoman Catharine Dickey wrote in an e-mail. “These rules protect our tenants and the thousands of customers at the mall each day by ensuring a safe and secure shopping, dining and entertainment environment while recognizing the requirements of California law. In particular, the rules recognize the right of the public to engage in expressive activity in our common areas, subject to reasonable time, place and manner restrictions as required by California law. These rules and procedures are, and have been, applied on a content-neutral basis for hundreds of individuals and organizations in our shopping centers each year.”

Westfield will consider appealing to the California Supreme Court, she said.

The appeals court decided that Snatchko could collect damages and attorneys’ fees. The trial court is responsible for implementing the appeals court ruling.

“We are very pleased with this landmark ruling by the California Court of Appeal that vindicates the right to engage in casual conversations about faith without fear of being arrested,” Brad Dacus, Pacific Justice Institute president, said in a news release. “This is a great victory for free speech and common sense.”

Timothy Smith, a Pacific Justice Institute affiliate attorney who is with the Sacramento law firm of McKinley & Smith, served as lead counsel for Snatchko pro bono.

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City officials are considering paying to build roads and utilities on an undeveloped 88.9-acre site where the UWM Real Estate Foundation Inc. has proposed building Innovation Park, which includes university buildings, private housing and a research park. The city would create a tax incremental financing district to pay for the $12 million in infrastructure construction costs.

The TIF district would let Wauwatosa borrow money for the projects, and then pay off the debt using increased property taxes from new development on the land Same day payday loans.

The Wauwatosa Plan Commission held a public hearing on the proposal on Monday night, but unanimously voted to table the proposal until Sept. 13 to gather more information, said Nancy Welch, Wauwatosa community development director.

If the Plan Commission approves the proposal on Sept. 13, the Wauwatosa Common Council could vote on the plan during its Sept. 21 meeting.

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In Colorado, Crocs reached a 27-month high close on upbeat earnings, and Venoco and Golden Star Resources also advanced on the session.

The Dow Jones Industrial Average finished the trading day at 10,653.56, down 21.42 points (0.2 percent).

The S&P 500 closed at 1,121.64, down 4.17 points (0.37 percent).

The NASDAQ Composite finished at 2,288.47, down 4.59 points (0.2 percent).

Among actively traded Colorado stocks, Crocs Inc. (CROX) led the day’s gainers percentagewise, up 10.89 percent ($1.37) to close at $13.95. The gain brought the stock to its highest close since April 2008.

The Niwot shoemaker on Thursday reported improved second-quarter profits due to further strengthening of its global wholesale and retail businesses.

Other Colorado gainers:

• Venoco Inc. (VQ) — Up 2.27 percent (38 cents) to $17.13.

• Golden Star Resources Ltd. (GSS) — Up 2.11 percent (9 cents) to $4.35.

• Royal Gold Inc. (RGLD) — Up 2.01 percent (92 cents) to $46.76.

• Forest Oil Corp. (FST) — Up 1.38 percent (43 cents) to $31.50.

• Level 3 Communications Inc. (LVLT) — Up 1.31 percent (2 cents) to $1.16.

Among actively traded Colorado stocks that declined on the day was Kodiak Oil & Gas Corp. (KOG), down 9.46 percent (33 cents) to close at $3.16.

Other Colorado decliners:

• SM Energy Co. (SM) — Down 2.89 percent ($1.20) to $40.27.

• QEP Resources Inc. (QEP) — Down 2.64 percent (92 cents) to $33.97.

• DCT Industrial Trust Inc. (DCT) — Down 2.63 percent (13 cents) to $4.81.

• Molson Coors Brewing Co. (TAP) — Down 2.29 percent ($1.07) to $45.68.

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At a meeting with financial analysts on Thursday, Ballmer outlined the company’s strategy to catch up to Apple and Google in the consumer space. He said Apple is doing an "interesting" job with the iPad and has "sold certainly more than I’d like them to sell." As a result, Ballmer said his company’s "job one urgency" is bringing Windows-based tablet computers to the market.

"No one is sleeping at the switch here," Ballmer said. "We have got to make things happen with Windows 7 on slates. We’re in the process of doing that as we speak. As focused as we are on this, our partners are also focused on this to deliver systems and chips to make this happen."

But Ballmer declined to give an exact timeline, saying only that the tablets will be ready "as soon as they’re ready" and "it ain’t a long time from now."

The CEO claimed that Microsoft needs to take its time to get its products just right to compete in the intensely scrutinized tablet space. He said that chipmaker Intel (INTC, Fortune 500) will be coming out next year with a tablet-specific processor called "Oak Trail" that will help manufacturers make better tablets that run Windows 7.

Ballmer famously canned a turmoil-fraught Microsoft tablet project that had been in the works for almost a decade before the iPad came to market. With the early success of Apple’s (AAPL, Fortune 500) iPad, many analysts are predicting that the tablet space will be one of the fastest-growing tech segments this decade, alongside smartphones. That makes Microsoft’s urgency all the more palpable.

Ever confident, Ballmer exclaimed, "We’re gonna sell like crazy!" Still, after the CEO outlined Microsoft’s tablet plans, an analyst told Ballmer that it appeared that Microsoft had "no clear strategy."

Ballmer disagreed, saying Microsoft’s tablets will run Windows 7, they’ll run Intel processors, they’ll be available in a wide array of shapes and sizes across many manufacturers, and they’ll likely be cheaper than the iPad.

Some analysts remained skeptical.

"Microsoft will have to pull a rabbit out of a hat to compete with Apple," said Al Hilwa, applications development software program director at IDC. "Apple has a less-is-more strategy to broaden its consumer approach with the iPad. Microsoft is committed to running Windows 7 on tablets, which is a concern."

Microsoft’s CEO focused his entire presentation on the company’s consumer businesses, which are almost all trailing their competitors.

Bing continues to lose money. "I can’t say there’s a point on the horizon where the business results will flip," Ballmer admitted.

After demonstrating Windows Phone 7, which is set to go on sale in the fall, Ballmer said the company still had a lot of work to do to compete with Apple and Google. Microsoft intends to throw enormous marketing muscle behind the new smartphone operating system, riding the success of its "I’m a PC" campaign with an "I’m a phone too!" campaign.

Xbox is the exception. It’s a consumer product that is finally making money for Microsoft, Ballmer said. The controllerless Kinect accessory will be closely watched when it goes on sale for the holiday season, targeting the Xbox’s 42 million users.

The cloud around businesses

Other top Microsoft (MSFT, Fortune 500) executives mapped out the company’s plans for maintaining its leadership in the corporate market, which makes up three quarters of Microsoft’s business. Microsoft’s lack of success in the consumer world tends to overshadow how well it is doing in the enterprise space.

It also doesn’t help that Microsoft’s primary strategy is relatively unexciting for the majority of non-geeks: The company aims to leverage its broad array of business products, massive data centers and experience in services to take a leadership position in cloud computing.

Still, Microsoft is confident that its success in the future will depend heavily on how well it carries out its cloud strategy with businesses. Chief Operating Officer Kevin Turner said the company’s cloud offerings will help fuel physical product sales and noted that 70% of Windows cloud customers are new customers.

Turner lashed out at Microsoft’s competitors like Google (GOOG, Fortune 500), Salesforce.com (CRM), Amazon.com (AMZN, Fortune 500), and VMWare for only offering only partial cloud services and solutions that he described as less than adequate for business customers.

The harshest criticism was reserved for Google’s Web Apps, which compete with Microsoft Office. Turner said Office’s Web Apps are far more powerful than Google’s, calling to attention to small things like Google’s lack of a ruler function on its Docs app — "things that we put in market almost 13, 14 years ago."

He also shared several customers’ complaints about Google’s services and said a handful of companies that left Microsoft for Google are now coming back.

Unlike its competitors, Microsoft can offer companies a full set of cloud-based services, including managed data centers and business software tools in one package, Turner said.

Microsoft’s cash cows also have room to grow. Windows 7 is selling faster than any other Windows version in history, but the vast majority of the company’s customers are still using older versions of Microsoft software. Eighty-four percent of Windows users are running XP and Vista, 52% are using Internet Explorer versions 6 and 7, and 63% are using Microsoft Office 2003 and earlier.

Now that businesses are beginning to refresh their hardware again, Microsoft believes there will be a tremendous upgrade opportunity to Windows 7 and Office 2010. 

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Ron Bowes, a security researcher and blogger, wrote a software program to scan Facebook’s public directory of profiles. Users can choose to opt out of that directory, but most stick with Facebook’s default setting and allow their name and a few other personal details to publicly searchable.

"Once I have the name and URL of a user, I can view, by default, their picture, friends, information about them, and some other details," Bowes wrote on his blog at SkullSecurity.org.

Bowes’ exploit did not involve breaching users’ privacy settings or obtaining any passwords, and all of the information he gathered is openly available on Facebook’s site. However, the sheer size of his data haul is significant: Bowes’ chunky 2.8 gigabyte file includes names and URLs for 171 million Facebook profiles. Facebook has an active user population of 500 million.

Bowes created a torrent for his cache, making it available through sites such as Pirate Bay. He also did some preliminary data mining: Facebook’s most-common user name is "jsmith," and the most popular first names on the site are Michael, John and David, Bowes found.

While Bowes called the information’s easy accessibility "a scary privacy issue," Facebook downplayed his exploit.

"This information already exists in Google, Bing, other search engines, as well as on Facebook. No private data is available or has been compromised," Facebook said in a statement. "Similar to the white pages of the phone book, this is the information available to enable people to find each other, which is the reason people join Facebook."

The company reiterated that its privacy controls allow users to adjust their settings so that they do not appear in a search on Facebook or through search engines.

Though the information Bowes culled is public, his approach still violated Facebook’s terms of service. The site prohibits collecting user information "through automated means," which includes harvesting scripts like the one Bowes created.

Facebook is typically aggressive in cracking down on policy violators. The company said Wednesday that it deleted all applications created by Pencake, a top outside developer whose widgets were used by 45 million Facebook members, because Pencake broke Facebook’s rules.

But Bowes doesn’t seem concerned. He’s already planning the next phase of his Facebook data dive. Bandwidth constraints stopped him from gathering users’ public photos and other openly available details, this time around.

"So far, I have only indexed the searchable users, not their friends," he wrote in his blog. "I’d like to tackle that in the future, though, so if anybody has any bandwidth they’d like to donate, all I need is an ssh account and Nmap installed." 

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Earlier this month, safety inspectors from the Food and Drug Administration issued a "Form 483" to Johnson & Johnson’s Lancaster, Pa., plant.

A Form 483 is issued after an FDA inspection finds problems with a company’s manufacturing practices.

The Lancaster plant is owned by Johnson & Johnson-Merck Consumer Pharmaceuticals, a joint venture of J&J and Merck (MRK, Fortune 500), but is operated by the company’s McNeil division.

McNeil, which makes pain and cold drugs such as Tylenol and Motrin, is under investigation by the FDA and lawmakers in connection with successive recalls of those drugs over the past year. McNeil shut its plant in Fort Washington following a scathing FDA inspection report of the factory in May that cited 20 manufacturing violations.

This latest setback for Johnson & Johnson is raising questions about lax quality standards at its over-the-counter drug factories and the possibilty of a pattern that could result in the FDA hitting the company with another warning letter or tougher oversight at its plants.

Disturbing pattern

The latest inspection report on the Lancaster plant, released by the FDA on Wednesday, cites 12 violations of good manufacturing processes, at least five of which were also observed at the Fort Washington plant.

One expert said the violations observed at the Lancaster plant are "very serious."

"If this is going on in Johnson & Johnson plants that make over-the-counter drugs, is this indicative of what is going on in other parts of the company’s business?" said David Rosen, who worked at the FDA for 14 years. Rosen is now with with law firm Foley & Lardner and advises major pharmanceutical companies on FDA regulations and compliance.

In an conference call with analysts this week, Johnson & Johnson’s chief financial officer Dominic Caruso declined to comment on whether other company plants had received Form 483 reports payday loans.

At both plants, inspectors questioned whether lab procedures and controls were adequate to assure products "conform to appropriate standards of strength, quality and purity."

Both plants were cited for failing to properly review an unexplained manufacturing discrepancy in a batch of drugs and for not properly following up on consumer complaints about products made at the facilities.

Specifically, the FDA’s report on the Lancaster plant noted that the staff failed to follow up on several consumer complaints, including instances where consumers said they found mint-flavored Pepcid tablets mixed inside the same bottle as berry-flavored tablets. There were also multiple complaints about a product lot for "lack of effect."

Experts said "lack of effect" could mean that the product was not producing the desired result when used. The FDA report did not name the product. Also, inspectors said the plant’s complaint coordinator did not initiate an investigation of the product.

However, the report did not mention the possibility or need for a product recall.

Additionally, regulators said the Lancaster factory didn’t properly document equipment malfunctions or keep adequate maintenance records. Inspectors said they found unlabeled test tubes filled with product sitting out on a counter. The factory also didn’t properly clean utensils used in the drug making process.

One industry expert, who did not want to be named, said he would not be surprised if the FDA is pondering further action on the Lancaster plant, such as a warning letter or a consent decree. Under a consent decree, the plant would be able to continue production, but would have constant third-party inspection.

The FDA and Johnson & Johnson declined to comment on the possibility of further enforcement action against the company. 

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"Every single contract that does not go to the core function of our city in providing safe streets, providing fire protection, or other things to keep our city afloat will now be cut," Mayor Cory Booker said during an emergency press conference Wednesday.

The reductions include not buying toilet paper for city offices, cutting the work week to four days for non-uniformed city workers, which is equivalent to a 20% pay cut, scrapping city holiday decorations, and closing city pools. These extreme measures, most of which will take effect beginning in August, are expected to save the city between $10 million and $15 million.

The city came to this impasse after the city council deferred a vote to create a Municipal Utilities Authority, a key component of Booker’s method of balancing the budget no fax cash advance. Because Newark could issue bonds on the Authority, it would have cash inflow to cover the immediate deficit. Without that infusion, the mayor said they can’t make ends meet.

While he accepts the council’s decision, Booker said that the move leaves Newark without a budget and "an incredible financial issue."

"If the council chooses to rely on a tax increase to fill this budget hole, our homeowners will receive an entire year’s worth of that tax increase in the fourth quarter — people will see tax bills into the thousands," Booker warned.

He added that raising property taxes will likely result in massive foreclosure rates, which is unacceptable.

Booker said he is making the severe cutbacks "to avoid a tax shock to our city." 

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