Fed: Recession "Very Likely Over," but Threats Remain

The Securities & Exchange Commission will no longer let companies caught in illegal activity have their cake and eat it, too. The commission��s is ceasing its much-criticized practice of allowing companies that have admitted to wrongdoing in criminal cases of securities fraud to cop a plea saying they ��neither admit nor deny�� those admitted wrongdoings in a separate SEC fraud case. The new approach applies as well to individuals who find themselves in that situation.

Said SEC Enforcement Director Robert Khuzami in a statement on Friday: ��The new policy does not require admissions or adjudications of fact beyond those already made in criminal cases, but eliminates language that may be construed as inconsistent with admissions or findings that have already been made in the criminal cases.��
As The New York Times pointed out, ��The commission has been sharply criticized, in federal court and on Capitol Hill, for allowing companies to repeatedly settle fraud cases without admitting or denying the charges. Until last week, that policy had been applied even when a company acknowledged the same conduct to another government agency, often the Justice Department..��
Lawyers interviewed by both NYT and The Wall Street Journal seem split on how significant the change is or whether it would have any bearing on SEC enforcement actions. But at least from the perspective of everyday common sense, it sure sounds like a step in the right direction.

POWRtec International Corp. (POWT) Signs Contract with DONG Energy for 50,000 Smart Read Meters

California-based energy monitoring company, POWRtec International Corp. (OTCBB: POWT)?announced today that it has signed a contract with DONG Energy to secure the delivery of 50,000 of its Smart Read Meters. The Danish energy giant is one of the leading energy groups in Northern Europe and is known for its visionary approach to providing clean and reliable energy.
POWRtec's Smart Read meters allow for efficient and comprehensive analysis of energy usage. This benefits the utility provider, the end-user and ultimately the environment. To date, POWRtec has delivered 160,000 meters to DONG Energy; following this agreement, that total will raise to 210,000 meters over the next 12 months.
POWRtec's Smart Read Meters align perfectly with DONG Energy's clean energy mission; users have noticed a more efficient use of resources, smaller energy bills and enormous benefits to the environment. POWRtec designed their products to directly reduce the amount of energy waste and make a meaningful difference to the environment. The innovative and intelligent meters are network-enabled and can utilize virtually any communications protocol, empowering the intelligent smart meters to directly control network enabled, power-draining devices by switching them on and off in accordance with the desired energy output.
Grant Jasmin, CEO of POWRtec, remarked, "We are very pleased to continue our successful collaboration with DONG Energy and assist them in reaching their goals for more sustainable and responsible energy consumption. This contract has further solidified our strong position in Northern Europe."