* Iceland says talks with creditors begin this week Bankruptcy * Says hopes to agree on compensation as soon as possible
* Iceland says talks with creditors begin this week Bankruptcy * Says hopes to agree on compensation as soon as possible STOCKHOLM, June 2 (Reuters) - Iceland's finance ministrysaid on Tuesday the government will start formal talks withcreditors of its failed commercial banks and aims to agree oncompensation as soon as possible. Financial authorities had previously expected a deal couldbe reached by mid-May, but negotiations have been held up due toproblems valuing the assets of Kaupthing, Landsbanki and Glitnirwhich collapsed last year under the weight of massive debts. "It is now hoped that the discussions will be able to beconcluded in a rapid timeframe in order to finalise thecapitalisation of the new banks," the ministry said in astatement. It also said the government hoped to agree on compensationfor creditors of the banks. Restructuring and rebuilding the bank sector and repayingcreditors as well as stabilising its currency, the Icelandiccrown, are key parts of a $10 billion rescue programme agreedwith the International Monetary Fund and Iceland's Europeanneighbours last year. The IMF sees the economy shrinking 10 to 11 percent in 2009following the country's financial meltdown and the Icelandicgovernment is forecasting it will run a deficit of nearly 13percent of gross domestic product this year. (Reporting by Mia Shanley; Editing by David Holmes) Bankruptcy.
BURLINGTON, MA, Jun 02 (MARKET WIRE) -- StarWind Software, a global leader in storage virtualization and iSCSIstorage software, today announced the release of StarWind Converter, afree multi-vendor V2V (Virtual to Virtual) converter that will convertvirtual machine images from VMware ESX (VMDK) format into the MicrosoftHyper-V (VHD) format and also into StarWind virtual SAN (IMG) format andvice versa. The unique feature of the free StarWind V2V Converter is thatit allows IT administrators to easily migrate any virtual machines fromdirect attached storage to shared storage on the network in one quick andsimple step. Therefore anybody can move VMDK or VHD images safely toshared storage, allowing for virtual server clustering, therefore ensuringhigh application and VM availability. This also means that systemadministrators will be able to use advanced VMware features such asVMotion, VMware HA, DRS and VCB now that they moved VMDKs to sharedstorage.Virtual infrastructure administrators can use the free StarWind Converterto cross multiple vendor or incompatible virtualization host platforms.StarWind is offering this free software to simplify virtual machinemigrations as well as development and testing in virtual infrastructuresthat run on multiple platforms as part of the commitment to enhancingvirtual environments for SMBs."We are sincerely excited to offer IT professionals this useful V2Vconversion tool at no cost," said Zorian Rotenberg, president and CEO,StarWind Software. "This is part of our continuing commitment to help ITprofessionals at small and midsize companies experience the benefits ofcombining server and storage virtualization.
Our free V2V Converter is avery simple tool that will facilitate the migration and conversion ofvirtual machine images."The converter is easily downloadable and provides a sector by sector copythat does not alter the source image. This will help for testing betweenVMware and Hyper-V, as well as provide the ability to convert localstorage into a StarWind image file that can be mounted and shared.Key Features of StarWind Converter:--Converts from VMDK to VHD and vice versa--Sector by sector copy--Does not modify source image--Easy to install and useStarWind V2V Converter downloads and installs on any Windows Server.StarWind iSCSI SAN Resources:StarWind Software Web SiteStarWind Converter (Free) Download About StarWind Software Inc.StarWind Software is a leading global provider of storage virtualizationand iSCSI storage software. The flagship product, StarWind Server, is aniSCSI Target software which converts any Windows server into a reliable,powerful and scalable SAN and is designed for use with solutions such as Microsoft Hyper-V, VMware ESX and VMware ESXi and Microsoft WindowsServer clusters for database applications such as Microsoft SQL Server,Microsoft Exchange and Microsoft SharePoint Server. StarWind is anaffordable iSCSI SAN solution and combines ease of use withenterprise-class features such as Mirroring and Replication, CDP andSnapshots, Thin Provisioning and Virtual Tape Library (VTL). Since 2003,StarWind has pioneered the iSCSI storage industry and has been thesolution of choice for thousands of global customers in over 50countries, from small and mid-size businesses, to governments, andFortune 1000 clients. For additional information regarding StarWindSoftware, please visit Software and the StarWind logos are trademarks and/or registeredtrademarks of StarWind Software Inc or its affiliates in the U.S andother countries. Other names are trademarks and/or registered trademarksof their respective owners.Media Contact:StarWind Software Inc.John Copyright 2009, Market Wire, All rights reserved.-0-.
Environmental Tectonics Corporation's Polish Subsidiary, ETC-PZL, Announcesthe Award of a Major Government Grant to Develop and Market Driver TrainingSimulatorsSimulators to be Sold Commercially after CompletionSOUTHAMPTON, Pa., June 2 /PRNewswire-FirstCall/ -- Environmental TectonicsCorporation (Pink Sheets: ETCC) ("ETC" or the "Company") today announced thaton May 11, 2009 their Polish subsidiary ETC-PZL Aerospace Industries Ltd.("ETC-PZL") entered into a contract with the Polish Government to develop andproduce two high level driver training simulators, one of which will bedesigned for bus driver training and the other for motor truck drivertraining. These simulators will be developed in conjunction with the WarsawTechnical University, who will act as a subcontractor to ETC-PZL. ETC-PZL hasalso signed a contract to sell the two simulators to a commercial customer inPoland upon completion. The project including grant funds and the sale has atotal value of 8.7 million Polish zloty (approximately $2.7 million) and acompletion period of 16 months.The first stage of the program will be conducting experimental research of abus and a truck in order to take measurements of their characteristics andparameters, based on which further mathematics models will be developed. Themodels in turn will enable ETC-PZL to develop software faithfully reproducingmotion dynamics of every simulated vehicle. These works will be carried outunder supervision of The Warsaw University of Technology -TransportationFaculty in co-operation with the Polish research institute engaged inautomotive issues. The simulators manufactured by ETC-PZL will incorporate the latest intechnology and computer techniques.
Modular structure of software willfacilitate modification and upgrades as required. The simulators will beequipped with ETC-PZL's state-of-the-art six Degree of Freedom ("6 DoF) motionsystem and a visualization system with a screen of not less than 180 degreeshorizontal field of view. The devices will simulate the full experience of driving a bus or three typesof truck driving applications (a cab, a truck with a trailer and atruck-tractor with a semi-trailer). They will allow the student to improvetheir driving skills under almost every terrain and road and weathercondition. The simulators will train the student in economical driving withoptimum fuel consumption and optimum wear of the brake system.