Tech Junkie: The blog Wisdom, wit: Our other business columnists and blogs Headlines: Latest from the wires

Published Thu, Apr 22, 2010 06:22 AM
Modified Thu, Apr 22, 2010 07:57 AM

Legislators dine under Cree lights

Article

0 COMMENTS

Email Print Order Reprint

Share This

Text

tool goes here

BY ALAN M. WOLF - STAFF WRITER

Add the hallowed halls of Congress to places where Cree's LED lights are being installed.

Or at least the cafeteria in Washington's Rayburn House Office Building. Think of it as illuminating a dining hall of power using less power.

U.S. Sen. Kay Hagan, a North Carolina Democrat, took partial credit for the news. In a news release from her office, Hagan wrote that she sent a letter last fall to the Senate Rules Committee encouraging them to select Cree's LEDs for new, energy-efficient lighting.

The light-emitting diodes made by Durham-based Cree are being adopted by cities, schools and businesses eager to embrace LEDs, which cost more than traditional lights but last much longer and use much less electricity.

But shares took a hit Wednesday after Cree reported earnings that didn't exceed optimistic estimates on Wall Street. Also, Cree plans to increase spending on research, which could erode profit.

Cree's shares fell $5.95 to close at $76.22 Wednesday.

Get the biggest news in your email or cellphone as it's happening. Sign up for breaking news alerts.

Email Print Order Reprint

More Technology

Smartphones give Target shoppers new savings
The retailer has teamed with shopkick to offer customers rewards for using their smartphones. Perks include gift cards and movie tickets.
Apple’s data center in Maiden gets approval for fuel-cell plant
State regulators approve a 4.8-megawatt fuel cell facility planned at the iPhone maker’s data center in Catawba County. The fuel cells, along with a planned 40-megawatt solar farm, will be nation’s biggest privately-owned electricity generators in those energy categories.
Lenovo remains the fastest-growing PC maker
Chinese PC maker Lenovo continued to advance towards its goal of becoming the world’s No. 1 PC maker with quarterly sales that defied a sluggish market and exceeded analysts’ expectations.
Forbes puts Triangle in America's geekiest top 20
Forbes has released its picks for America's Top 20 geekiest cities, and the Triangle cracked the top five.
N.C. State researcher launches project to battle Android malware
Android malware can wreak havoc on a user. The quick growing threat can exploit data and even take control of a device incurring hidden charges. There is a new effort to battle the menace on mobile security.
HP's missteps culminate in loss of 27,000 jobs
Hewlett-Packard CEO Meg Whitman has quantified the painful price that must be paid for the missteps of her predecessors as she tries to turn around the Silicon Valley pioneer. The bungling will wipe out 27,000 jobs so HP can save enough money to lift its earnings and invest in the development of more profitable products and service.
Regulators probe bank's role in Facebook IPO
Regulators are examining whether Morgan Stanley, the investment bank that shepherded Facebook through its highly publicized stock offering last week, selectively informed clients of an analyst's negative report about the company before the stock started trading.
Wind farm could harm the state’s bald eagle population
A preliminary estimate by the U.S. Fish and Wildlife Service says a proposed wind farm near the Pocosin Lakes Wildlife Refuge could kill up to 20 bald eagles a year. The wildlife service cautions that the preliminary data collected is inconclusive.
Cree CFO resigns, will join new company
The chief financial officer of Durham LED lighting company Cree has resigned. John Kurtzweil's resignation took effect Monday, the company said in an announcement, but he plans to continue as a Cree employee until June 15 to assist with the transition.
Mass. subpoenas Morgan Stanley in Facebook case
Massachusetts' top securities regulator has subpoenaed Morgan Stanley related to allegations that it gave some clients negative information about Facebook before last week's initial public offering.