Although Mr. Barry Portnoy was elected as a Managing Trustee in accordance with the Company's governing documents and applicable law by a plurality of the votes cast, his election did not receive a majority of the share votes cast. Pursuant to the Company's Governance Guidelines, Mr. Portnoy presented his resignation as a Managing Trustee for consideration by the Company's Nominating and Governance Committee, or the Committee, and the Company's Board. The Committee (composed only of Independent Trustees) and the Board (without Messrs. Barry Portnoy or Adam Portnoy participating), on the recommendation of the Committee, each unanimously determined not to accept Mr. Barry Portnoy's resignation for the following reasons, among others:
It appears that the "withhold" vote against Mr. Portnoy's election was significantly motivated by the recommendation of Institutional Shareholder Services Inc., or ISS. The stated reason for ISS's recommendation is that Mr. Portnoy is "overboarded" because he serves on boards of more than six publicly owned companies. All of the companies on whose boards Mr. Portnoy serves are managed by Reit Management & Research LLC and its affiliates, or RMR. Mr. Portnoy is Chairman and a full time employee of RMR. The Committee and the Board know that Mr. Portnoy has an almost 100% attendance record at Board meetings and that he has demonstrated at such meetings that he is fully engaged and familiar with the Company's business. The Committee and the Board are confident that Mr. Portnoy has the time and capacity to devote to Board business.
The Committee and the Board believe Mr. Portnoy's continued participation in Board decision making is invaluable to the Board and in the Company's interest. Mr. Portnoy has extensive experience in the real estate industry and particular experience related to healthcare related real estate. In addition to his current Board service, Mr. Portnoy previously served as a director of two New York Stock Exchange listed...
Any thoughts . . .
Vicor Corporation Further Expands Picor(R) Cool-Power(R) ZVS Regulator Portfolio With New 48 V Buck Regulators
BY Market Wire
— 9:00 AM ET 05/20/2015
NUREMBERG, GERMANY -- (Marketwired) -- 05/20/15 -- PCIM Europe 2015 - Vicor Corporation ( VICR ) today announced the expansion of its Picor® Cool-Power® ZVS Point-of-Load Regulator portfolio with the introduction of high efficiency PI3542, PI3543, PI3545, and PI3546 buck regulators. The entire Cool-Power portfolio is characterized by products with benchmark efficiency and density performance that are simple to use, accelerating time to market.
Enables 48 V direct to PoL high performance step-down regulation
Zero-Voltage Switching (ZVS) topology provides unparalleled efficiency over 96%
High density 10 x 10 x 2.5 mm LGA System in Package (SiP) module for power delivery over 100 W
Advanced features including constant current control for lighting and battery applications
PI354x Cool-Power ZVS Buck Regulators utilize the integration of a high performance ZVS topology that enables 48 V direct to PoL without sacrificing performance. With step-down regulation from a higher voltage source, engineers can deploy more efficient power distribution architectures, reduce I2R losses, and eliminate costly and inefficient intermediate conversion stages.
PI354x series operates from 36 Vin to 60 Vin
Regulates an output voltage ranging from 2.2 V to 14 V, with output current delivery up to 10 A
Power delivery can be further increased by using single wire current sharing without any additional components
The PI354x Cool-Power ZVS Buck Regulators are designed for a wide range of applications leveraging higher voltage distribution, including: telecom, network infrastructure, datacenters, industrial, battery, and lighting applications.
The PI354x series expands and enhances the Vicor Power Component Design Methodology. When used in conjunction with Vicor's front-end products and Factorized Power products, the PI354x...
Another new product and another increase in stock price today... yeah. Keep'm coming Vicor and I hope you sell a lot of all...
Vicor Corporation's VIA BCM(R) DC-DC Front-End Module Offers High Power Density and Efficiency
Operating From a 380 VDC Bus, VIA BCMs Provide an Isolated 48 V Output at up to 1.75 kW and 97.5% Peak Efficiency in a 9 mm Thin Thermally Adept Module
NASDAQTue, May 19, 2015 4:00 PM EDT
NUREMBERG, GERMANY--(Marketwired - May 19, 2015) - PCIM Europe 2015 - Vicor Corporation (NASDAQ: VICR) today introduced its new VIA BCM® K=1/8 DC-DC bus converter module. Operating from a 380 VDC nominal input and delivering an isolated SELV 48 V output, the new VIA BCM provides a new level of functional integration in a 9 mm thin thermally adept module incorporating EMI filtering, transient protection and inrush current limiting.
With the VIA BCM, Vicor's MHz frequency, soft-switching bus converter technology enables DC-DC front ends with far greater density and efficiency than "competitive" products. VIA BCMs can be paralleled to provide multi-kW arrays, provide bi-directional power processing, and support PMBus™ digital communication capabilities. Utilizing a robust and time proven high voltage DC (HVDC) power conversion technology, these modules are ideally suited for HVDC distribution in datacenters, microgrids, ICT equipment, ATE and industrial systems.
About the Vicor Integrated Adapter (VIA) 9 mm Thin Thermally Adept Modules
VIA power modules enable power system designers to create highly dense, efficient, flexible and scalable power systems. Vicor's 9 mm thin VIA power modules integrate system functions including EMI filtering, transient protection and inrush current limiting to reduce design time and design risk.
Stock is up today...
Vicor Corporation's VIA PFM(TM) AC-DC Front-End Module Offers High Power Density and Fast Time to Market
BY Market Wire
— 9:00 AM ET 05/18/2015
NUREMBERG, GERMANY -- (Marketwired) -- 05/18/15 -- PCIM Europe 2015 - Vicor Corporation ( VICR ) today introduced its high density, low profile, integrated VIA PFM™ AC-DC front-end power modules. VIA PFM AC-DC front-end converter modules achieve a power density of 8 W/cm3 (127 W/in3) supplying an isolated, PFC regulated 24 V or 48 V SELV DC output at up to 400 W from the universal AC input range of 85 to 264 V with 93% peak efficiency.
The VIA PFM is 5X thinner than traditional 1U supplies, offering unique design advantages to power system architects challenged by size constraints. With its 9 mm thin profile and 36 mm width, the VIA PFM can be mounted on the sidewall of any typical 1U chassis, saving valuable real estate. Thermally adept VIA PFMs may be chassis mounted and conduction cooled to eliminate fans, thereby improving overall system reliability and further minimizing the power system footprint. High density, high efficiency and low thermal resistance make VIA PFM front-end modules well-suited for a wide range of end-market applications, including small cell wireless base stations, size constrained LED lighting applications, industrial and automation systems.
Five Star Senior Living Awarded Best of the Best Award by the Assisted Living Federation of America
BY Business Wire
— 8:00 AM ET 05/18/2015
NEWTON, Mass.--(BUSINESS WIRE)-- Five Star Senior Living, one of the nation’s leading providers of independent living and assisted living for seniors, today announced that it has been awarded the Best of the Best award by the Assisted Living Federation of America (ALFA) for its Celebrity Chef Program. The ALFA Best of the Best awards recognize innovative new programs and services that are creating the future of senior living.
More than a year ago, Five Star partnered with renowned celebrity chef and restaurant owner Brad Miller in an effort to redefine the senior living dining experience. Through a series of chef challenges and events, new menu items and culinary tip videos, Five Star has successfully enhanced and upgraded the dining experience for residents across all communities throughout the country.
“We’re proud to receive this important industry recognition from ALFA for our Celebrity Chef program,” stated Bruce Mackey, President and CEO. “Our partnership with Chef Brad Miller was the first of its kind in the senior living industry. The program Five Star created has raised the bar for our talented chefs who are competing in challenges across the country, much to the delight of our residents who are enjoying fine dining experiences as a result of their participation and dedication.”
All of Five Star’s communities have Chef Brad’s signature items on the menu and additional items are being added each month. Chef Miller has continued his affiliation with Five Star in 2015 and together they are launching the Five Star Culinary Academy where Chef Miller is educating and working directly with our chefs to take their skills to the next level.
No reason given?
Columbine Capital Services, Inc. downgrades VICOR CORP from NEUTRAL to UNFAVORABLE.
BY Investars Analyst Actions - private
— 7:29 PM ET 05/09/2015
On May 9, 2015 Columbine Capital Services, Inc. downgraded VICOR CORP ( VICR ) from NEUTRAL to UNFAVORABLE.
Here's another release on the subject:
Agreeing With Vicor, the Patent Trial and Appeals Board Rules That All Claims of a SynQor Patent Are Invalid
ANDOVER, MA--(Marketwired - May 12, 2015) - On May 5, 2015, the United States Patent and Trademark Office's Patent Trial and Appeals Board (PTAB) ruled that all claims of U.S. Patent No. 7,727,021 are invalid, thus affirming the Examiner's decision in a reexamination proceeding initiated by Vicor Corporation (NASDAQ: VICR). SynQor, Inc. has asserted U.S. Patent No. 7,727,021 against Vicor and Cisco Systems, Inc. in litigation currently pending in the U. S. District Court for the Eastern District of Texas. The May 5th PTAB decision follows a March 13th decision in which the Federal Circuit, reversing a prior decision of the PTAB, found that prior art invented by Dr. Robert L. Steigerwald anticipated key claims of a related patent, U.S. Patent No. 7,072,190. Citing to the Federal Circuit decision, and giving it substantial weight, the PTAB found that all claims of U.S. Patent No. 7,727,021 are also either anticipated by Steigerwald or obvious.
Commenting on the PTAB decision to invalidate U.S. Patent No. 7,727,021, Dr. Patrizio Vinciarelli, Vicor's Chief Executive Officer, stated, "SynQor's abuse of the patent system and its campaign to prevent competition from superior Vicor bus converters, known not to infringe, has now been dealt a second, decisive blow. On the heels of the Federal Circuit's earlier decision invalidating key claims of the '190 patent, the PTAB new ruling underscores the seminal role of Dr. Steigerwald's pioneering work in anticipating a second SynQor patent, the '021.
Vicor has asserted counterclaims against SynQor for the damage caused by SynQor's abusive practices. In its counterclaims, Vicor seeks damages for SynQor's unfair and deceptive trade practices and its tortuous interference with Vicor's customer relationships. Vicor intends to hold SynQor and its agents accountable for the damage they have
A very interesting read indeed.
Again, this is way too much of a distraction and expense for Vicor that takes away the focus it should have on new technology and new business...
Also, it seems like the market could care less about Vicor, on a significant up day for the rest of the market, Vicor is down...
Thanks for the update. We'll see how all this legal distraction settles out. But, more importantly, let's hope the business side of things is realized with some meaningful results...
General Electric #$%$ Monday announced collaborations with Qualcomm Inc and Apple Inc as it uses digital technology and the growing appetite for data to reinvigorate its 130-year-old lighting business.
With chipmaker Qualcomm, GE is offering retailers a way to connect with shoppers' smartphones through technology embedded in LED light bulbs, the company said. One use of the "indoor positioning" technology could be to transmit customized coupons to shoppers depending on their store location.
GE also said it will produce an LED bulb compatible with Apple's yet-to-launch connected-device platform HomeKit. The bulb can change colors to align with the natural rhythms of the body.
The tie-ups underscore GE's plans to dive into the emerging and increasingly competitive market for connected lighting that integrates with smart devices.
While GE sees an opportunity in selling energy-efficient LED bulbs, it will seek to use sensors and other technology embedded in LEDs to the advantage of consumers, businesses and cities, said Beth Comstock, who leads GE Business Innovations.
Services offered by GE stand to provide revenue that could offset pressure should the LED bulb business become more commoditized.
It is interesting how different POWI has trended up since it's quarterly report yesterday with a miss but better guidance. When compared to what I imagined as a beat by VICR and not such good near term guidance. There is some perceived risk in the continued lawsuit and execution for VICR but I hope all will work out well...
...the '190 patent were anticipated by prior art belies SynQor's claim to have invented IBA and validates Vicor's determination to confront SynQor's abuse of the patent system and of patent litigation to suppress competition from superior products known not to infringe. We look forward to future rulings rejecting the validity of the remaining claims in SynQor's family of bogus patents, and its groundless patent infringement claims against Vicor."
I'm sure we'll hear more tomorrow...
And the beat goes on ...
ANDOVER, MA--(Marketwired - Apr 27, 2015) - On April 24, 2015, the United States Court of Appeals for the Federal Circuit in Washington, D.C., issued an order denying SynQor's petition for panel rehearing of the Court's March 13, 2015, decision invalidating certain claims of U.S. Patent No. 7,072,190, which SynQor, Inc. has asserted against Vicor Corporation (NASDAQ: VICR) and Cisco Systems, Inc. in litigation currently pending in the United States District Court for the Eastern District of Texas. The Federal Circuit's March 13th decision reversed a prior decision of the United States Patent and Trademark Office's Patent Trial and Appeal Board (PTAB) that had found the same claims patentable in an inter partes reexamination proceeding initiated by Vicor. The Federal Circuit's April 24th order confirms its earlier ruling that prior art anticipated key claims of the '190 patent and may render the remaining claims invalid as obvious.
On April 20, 2015, the PTAB issued a decision in the inter partes reexamination of SynQor's U.S. Patent No. 7,564,702 that reversed the patent examiners' prior rejection of all claims in that patent. Vicor believes this decision, like the PTAB's prior decision concerning the '190 patent, misapprehends relevant prior art because of misrepresentations by SynQor. Vicor intends to vigorously contest this ruling, through a motion for reconsideration and/or an appeal to the Federal Circuit.
Commenting on the Federal Circuit's denial of SynQor's petition, Dr. Patrizio Vinciarelli, Vicor's Chief Executive Officer, stated, "For years SynQor has sought to prevent competition in the market for Intermediate Bus Architecture (IBA) components, by patenting concepts that were already well known in the field of power electronics, and by asserting its patents against Vicor's fundamentally different and technically superior bus converter products. The Federal Circuit's affirmation that key claims of the '190 patent were anticipat
The market sure didn't like it today. I'm guessing it's not so good for Vicor in the short term and counters a lot of what PV has been saying on the case. Unfortunately we'll probably see more legal fees, distractions, etc. on older technology.
Long term, I'm hoping that Vicor's new products and new business will speak for itself and produce significant new profits...
Looking forward to the Q1 conference call update.
SynQor Announces Reversal by Patent Trial and Appeal Board
Boxborough, MA – SynQor announced today that the United States Patent Trial and Appeal Board ("PTAB") issued its Decision on Appeal in the inter partes reexamination of U.S. Patent No. 7,564,702 ("'702 Patent"). The '702 Patent is one in a family of patents relating to Intermediate Bus Architecture (“SynQor IBA Patents”) that SynQor is currently asserting against Cisco Systems and Vicor Corporation in the Eastern District of Texas. SynQor, Inc. v. Cisco Systems, Inc. Civil Action No. 2:14-CV-286 E.D. Texas and SynQor, Inc. v. Vicor Corporation Civil Action No. 2:14-CV-287 E.D. Texas.
In its decision, the PTAB rejected Vicor’s challenge to the validity of the '702 Patent and reversed all of the Examiner's claim rejections, including the four claims of the '702 Patent asserted against Cisco Systems and Vicor in the above cases. To read the Decision on Appeal click here.
The Decision on Appeal is the first time the PTAB has considered a reexamination of any of the SynQor IBA Patents since the Federal Circuit's March 13 decision in Vicor Corporation v. SynQor, Inc.
The PTAB commented: "The weight of the objective evidence, combined with the technical difficulties in implementing the proposed combinations of references adopted from the Request by the Examiner, lead us to the conclusion that the claims at issue would not have been obvious to one of only ordinary skill in the art at the time the invention was made."