Melrich Road Sale

Elder Accounting

Senior Care Moves

Grants Awarded

Grant for Autism

High Tech & Biotech

Deaths

Corrections or additions?

This article by Barbara Fox was prepared for the October 29, 2003

issue of U.S. 1 Newspaper. All rights reserved.

Fast Lane: WindsorTech Rollup

Shares of WindsorTech Inc. began trading on Monday,

October 27, on the Nasdaq over-the-counter bulletin board as WSRT.

A data security and environmental compliance service company, the

firm was founded two years ago and did a reverse buyout with Delta

States Oil to become public. The company, which has 38,000 square

feet on Lake Drive in Hightstown, expected trading to begin in August

or September, but there were some red-tape delays.

Two years ago five partners chipped in a total of $900,000 to start

WindsorTech, among them the 41-year-old CEO Marc Sherman (U.S. 1,

September 17). Sherman promises to do a roll-up in this young industry

by buying small, profitable companies that are operating in a limited

geographic area or with a specific product focus. A roll-up would

reduce shipping costs and streamline work for clients with numerous

offices and facilities.

"We have invested heavily in our infrastructure to build a system

capable of handling in excess of 35,000 end-of-life IT assets per

month," says Sherman. "With this infrastructure in place,

we are beginning to address the data security and environmental

concerns

of end-of-life IT assets for corporate, public and academic

America."

WindsorTech’s audit report and certificate of disposition includes

function, condition, configuration, fair market value of sold or

donated

items, and whether sold to international market place whole or in

parts. Cost per computer, including keyboard, mouse, monitor, and

CPU: $11.50.

What’s good for Sherman’s business is the discard rate for computers.

An estimated 215 million computers will be discarded over the next

three years, each containing from two to eight pounds of lead that

will end up in the waste stream unless the computers are recycled

or cleansed of toxic materials.

Also good for the business are several government regulations, such

as EPA fines for improper disposal of IT assets that can be as much

as $10,000 per toxin, the Health Insurance Portability and

Accountability

Act (HIPAA) that mandates the confidentiality of patient records even

after the equipment has been tossed, the Gramm-Leach-Bliley Act of

1999 that requires banks, stock brokers, and insurance companies to

keep records confidential, and the Sarbanes-Oxley Act of 2002, which

requires that public companies maintain records of IT assets for seven

years.

A tremendous amount of due diligence is required in the vendor

selection

process for data security and environmental compliance, warns Sherman.

"The fines and liability involved for improperly handled

end-of-life

IT assets are simply too great to trust to a vendor that is not on

the cutting edge of the industry."

WindsorTech Inc., 70 Lake Drive, Hightstown 08520.

Marc Sherman, CEO. 609-426-4666; fax, 609-426-4543.

Www.windsortechinc.com

Top Of Page
Melrich Road Sale

The 112 Melrich Road building housing FNS Logistics

Services has been bought by Dallas-based Crow Holdings. It was part

of a two-building $19.5 million transaction that also included 114

Melrich Road.

One of the largest stand-alone buildings in the Exit 8A marketplace,

the FNS warehouse has 245,528 square feet, 32-foot clear ceiling

heights,

and two drive-ins. Just before the purchase, Federal Express signed

a lease for 75,000 square feet in the 114 Melrich Road building, which

used to be a distribution center for a maker of body building

equipment.

FNS is a Korea-based firm that distributes the products for another

Korea-based firm, LG Electronics. Formally named Freight Network

Systems

Logistics Services Inc., FNS moved in last summer. Clark Kim, its

president, came from Korea last year. FNS will distribute the products

of LG Electronics (which has its United States headquarters in

Englewood

Cliffs) in the eastern United States. This location was chosen both

for its proximity to major highways and for its security — the

warehouse had been located in Avenel.

About 10 workers and 11 staff members work in the office. "Even

though we do business in freight forwarding for LG now, we may work

for other companies in the future," says Brandon Kim, the

assistant

manager. He came to this country when he was in high school and

graduated

from George Washington University in 2000 with a finance major. In

charge of human resources and purchasing is Todd Kim.

The investment came from the second of three funds owned by Crow

Holdings

Realty Partners, a $365 million real estate limited partnership

sponsored

by Crow Holdings, which directs the investments of the Trammell Crow

family. Crow bought the properties from the JP Morgan Special

Situation

Property Fund, a commingled pension trust fund managed by JP Morgan

Fleming Asset Management. JP Morgan had bought the first building,

114 Melrich, and built the second one, 112 Melrich. It was represented

by Gary Gabriel in the sale.

In the FSN lease, Robert Sager and Nick Kim of Insignia/ESG in Saddle

Brook (now CB Richard Ellis) represented the tenants, while Frank

Caccavo and Jason Goldman of Cushman & Wakefield represented the

landlord.

FNS Logistics Services, 112 Melrich Road, South

Brunswick Industrial Park, Monmouth Junction 08852. Clark Kim,

president.

609-409-0077; fax, 609-409-4496. Home page: www.fnsusa.com

Top Of Page
Elder Accounting

Hilly Berlin and Barbara Kady aim to take some of the

worries out of old age, both for the elderly and for their children.

Whether the elderly person is living in his or her own home, or is

in a care center, somebody — a child, a sibling, a niece or nephew

— is eventually going to have to step in and deal with the elder’s

financial affairs.

Berlin’s and Kady’s new company, Princeton Financial Care Services

LLC, can take care of the day-to-day bookkeeping and also provide

advice on longer-term negotiations with lawyers, stock brokers, and

financial advisors. They do not sign checks, and they do not sell

investments — but they promise to organize all the necessary

information

so that the elderly person or the geographically distant relative

can easily understand it.

The pair plan to work with elderly people in the Princeton,

Hightstown,

and Pennington area. Their marketing plan consists of a well-written

brochure sent to assisted living homes, and they say the response

they have received indicates that there is a need for their services.

"There is plenty of room in this market," says Linda Richter,

whose firm — Personal Paperwork Solutions and More — also

caters to the senior community. "We do medical billing, and they

have other areas of expertise. Everyone has a different niche."

Berlin is an alumnus of Rutgers, Class of 1956, who was a partner

at Eisner and Tenenbaum in New Brunswick. Joined by Barbara Kady,

he opened his own firm, H Berlin CPA PA on Livingston Avenue in New

Brunswick 30 years ago. Berlin’s wife teaches elementary education

in North Brunswick, and they live in Princeton. Kady went to College

of New Jersey, Class of 1959, and taught school before joining Berlin

in his business. Kady’s husband, Robert Kady, is an architect,

formerly

at the Hillier Group and now at Thomas Associates, and they live in

Pennington.

They merged with two younger CPAs to form Schorp Collier & Berlin

so as to diminish the amount of their tax work, hectic during the

tax season. "In our practice we saw all the problems that the

elderly were having," says Berlin.

Their company can organize and review bills, arrange for direct

deposits

and monthly deposits, prepare and file insurance claims, meet with

attorneys and investment advisors on financial plans, reconcile bank

accounts and summarize broker account activity, prepare and submit

tax forms for household employees and caregivers, administer trusts

and estates, and manage rental properties.

Short-term projects might include photographing the contents of a

house for an electronic inventory, evaluating options for long-term

care insurance, evaluating options for selling a home versus renting,

evaluating the pros and cons of reverse mortgages, and arranging gifts

to children and grand children.

Decrying the lack of planning that causes confusion when it comes

time to execute a will, they note that sometimes executors appointed

at the time a will was prepared become incapable of performing the

services needed, and they offer their services as executors.

The price depends on the type of work and frequency of work. To write

15 to 30 checks once a month will probably cost $125 a month, says

Berlin. That includes going to the senior citizen’s home to pick up

the bills and discuss the work and then paying the bills, probably

using Quicken, Microsoft Money, Quickbooks, or Peachtree software.

"Based on what we have seen, $30 to $35 an hour is a fair

fee,"

says Berlin. "On certain cases we can charge a flat fee."

That may seem like a lot of money for someone who can write their

own checks, but the target client is the elderly person who no longer

has the ability to do it correctly — and who doesn’t have a nearby

relative willing to do it. "We have witnessed situations where

duplicate payments were made, insurance coverage lapsed, and dividend

checks were not deposited," says Kady. "We have observed

seniors

making inappropriate investments, such as tax shelters and unsuitable

annuities."

If Berlin and Kady are helping other people to slow down, what will

happen to their clients when they retire? "We have a younger CPA

who is willing to work with this," says Berlin. "We hope to

have this so well organized that we can bring in younger people and

just do the supervision."

Princeton Financial Care Services, 106 West

Franklin

Avenue, Straube Center, Pennington 08534. Hilly Berlin CPA and Barbara

Kady. 609-730-0067. E-mail: princecare@aol.com Home page:

www.princeton-financial.com

Top Of Page
Senior Care Moves

Senior Care Management moved last month from 23 Route

1 North in Pennington to 261 Upper Ferry Road in Ewing, where it can

more easily serve clients in Bucks County as well as in Mercer and

Hunterdon counties.

"We are still a small business, and we cater to individual needs

to help elders age in place," says Jan McCurdy, a partner in the

tk-year-old firm along with Barbara Bristow. Founded in 1990, the

firm offers professional care management (services and counseling)

for older adults and their families. It has a certified home health

division providing long-term services for older adults. The partners

are members of the National Association of Geriatric Care Managers,

the National Guardianship Association, and the National Association

of Social Workers.

Senior Care Management, 261 Upper Ferry Road, Ewing

08628. Barbara Bristow, partner. 609-737-8398; fax, 609-737-1220.

Home page: www.seniorcaremgt.com

Top Of Page
Grants Awarded

Fraser Research, 182 Nassau Street, Box 1569,

Princeton

08542. Alexander G. Fraser, president. 609-497-7337; fax,

609-497-7335.

Fraser Research has received a five-year collaborative award from

the National Science Foundation for a project called "100 Megabits

per second to 100 Million Households." It will be conducted by

investigators from Fraser Research, Carnegie Mellon, Stanford, Rice,

University of California at Berkeley, and Internet2.

Alexander "Sandy" Fraser set up the not-for-profit research

organization to provide research in science and technology in support

of a national communications infrastructure (U.S. 1, August 6, 2003).

Fraser predicts that domestic access to 100 megabit-per-second

Internet

access will dramatically affect daily life, "but only if the

network

is much more reliable, anticipates applications not yet envisioned,

is economically sustainable for the long run, is easier to use and

operate, and is more secure than the Internet is today." The

project

will design blueprints for this near-future network by applying

principles

from security, economics, and network research.

At Cambridge University, Fraser had written the file system for the

Atlas 2 computer, England’s first time-sharing system. With

collaborators,

he invented the Universal Receiver Protocol and INCON, a cell-based

network that operated at two megabits per second on home telephone

wire. By 1994 he was associate vice president for information science

research, focusing on electronic commerce for digital audio, billing,

broadband access and home networks. In 1996, after AT&T’s divestiture,

he set up AT&T Labs Research and then went back to doing research

as AT&T’s Chief Scientist in 1998, retiring to found the research

firm.

Fraser Research, 182 Nassau Street, Box 1569,

Princeton

08542. Alexander G. Fraser, president. 609-497-7337; fax,

609-497-7335.

Top Of Page
Grant for Autism

Linda Brzustowicz, an associate professor in Rutgers’

department of genetics, has a five-year, $3.7 million National

Institutes

of Health (NIH) grant to investigate the genetic basis of autism.

According to the American Medical Association, autism today is about

10 times more prevalent than it was in the 1980s. New Jersey reports

a jump from 1,042 autistic children in 1994 to 3,984 by 2001. No cure

is known for the disease, which is connected to a early brain

development

and is usually diagnosed in the first three years of life.

Brzustowicz and her colleagues at the University of Medicine and

Dentistry

of New Jersey (UMDNJ) will select 150 families for study. They are

specifically looking for families that have an autistic member and

other nonautistic relatives who exhibit traits associated with the

illness such as problems with language.

"Our strategy is to examine the hereditary patterns of the

individual

characteristics that make up the spectrum of behaviors that constitute

this disorder," says Brzustowicz, who is also a psychiatrist and

associate professor of psychiatry at UMDNJ. "In doing so, we

hope to be able to more easily find the genes that are linked to

specific

components, one at a time."

Brzustowicz and her colleagues will also obtain 850 sets of previously

collected and stored "trio" samples, consisting of genetic

material from autistic individuals and their parents. This genetic

material will be analyzed and compared — a child’s to each of

the two parents’ — to more precisely define genes linked to

autism.

The trios will be drawn from the Autism Genetic Resource Exchange

(AGRE) and the NIMH Human Genetics Initiative samples, both of which

are contained in the Rutgers University Cell and DNA Repository, a

storehouse of cell lines cultured from blood samples donated by more

than 40,000 people around the world. For information about the study,

E-mail: autism@biology.rutgers.edu.

Top Of Page
High Tech & Biotech

Ten Princeton-area companies — ten percent of the

total number of exhibitors — will get to meet and greet angels

and venture capitalists at the Mid-Atlantic Venture Fair and Bio-Forum

East, set for Monday to Wednesday, November 17 to 19, at the

Philadelphia

Convention Center.

Since the market for almost everything but biotech is depressed, the

Greater Philadelphia Group made a smart move — it invited the

BIO VentureForum East to join the non-biotech companies for this

event,

for a total of 100 companies. The fair is expected to attract more

than 1,100 including 200 investors from the region.

The fair runs on two tracks — for high tech companies and biotech

companies. For the general public the reception on Monday, November

17, at 6 p.m. costs $275 if you are registered, more if you are a

walk-in. Daily registration for Tuesday and Wednesday is $650, and

walk-ins pay $1,500 for the three days. You can call 215-790-3695,

but the organizers prefer website registrations (www.mavc.com

or www.bio.org/bvfeast).

On Tuesday Chris Sugden of Edison Venture Fund on Lenox Drive

speaks on a Venture Bootcamp panel entitled "An Insider’s Guide

to Increasing Your Hit Ratio." Keynote speakers include Stephen

Oesterle, senior vice president of Medtronic, and Dean Kamen

president of DEKA Research and Development Corporation and inventor

of the high-tech wheelchair being marketed at Johnson & Johnson.

Battery

powered, with tiny electronic gyroscopes, the $29,000 wheelchair can

climb stairs and elevate itself.

Among the biotech companies to exhibit:

Barrier Therapeutics Inc., College Road East, Princeton.

Development and marketing of dermatological products based on

intellectual

property in-licensed from Janssen and other J&J affiliates.

www.barriertherapeutics.com

(U.S. 1, October 8).

KeyCell Therapeutics, State Road, Princeton. A spinoff

from Medarex. www.medarex.com

Linguagen, Eastpark Boulevard, Cranbury. Research in

molecular

biology of taste signaling for the flavor industries.

www.linguagen.com

(U.S. 1, September 10).

Onconova Therapeutics, Lenox Drive shared office,

Princeton.

Oncology solutions, including a cytoprotective drug discovery platform

developed at Fels Institute, Temple University. www.onconova.com

PBL Biomedical Laboratories, Ethel Road West, Piscataway.

Research and development of interferons and other cytokines for the

treatment of cancer. www.pblbio.com (U.S. 1, August 28, 2002).

Transave Inc., Deer Park Drive, Monmouth Junction.

Research

on drug delivery for lung disease. www.transaveinc.com (U.S.

1, April 11, 2001).

The high tech, non-pharmaceutical firms exhibiting:

Quantiva Inc., Village Boulevard, Princeton. Performance

management systems for Internet businesses — wide area network

management services. www.quantiva.com

Restricted Stock Systems Inc., Wall Street, Princeton.

Software applications that automate restricted stock equity

transactions,

licensed to financial services organizations and public organizations.

www.rssgroup.com (U.S. 1, July 2).

Bullrun Financial, Franklin Corner Road, Lawrenceville.

Real time investment advice to institutional equity money managers.

www.bullrunfinancial.com

ExpertPlan, Millstone Road, Cranbury. Web-based

application

service provider for Internet-based retirement planning services.

www.expertplan.com (U.S. 1, January 2).

Top Of Page
Deaths

Richard Edward Victor Swann, 85, on September 6. An

prolific

author of books on cycling, he had worked as a mechanic at Kopp’s

Cycle Shop in Princeton.

Donald T. Evans, 65, on October 16. A director and

playwright,

known for "Miss Lydia, "One Monkey Don’t Stop No Show,"

"Showdown,"

and "Spooks," he was a professor at the College of New Jersey

and founded Trenton’s first black theater group.

Dilip Vasudeo Kane, 50, on October 16. A freelance graphic

designer, he had been art director at the New Jersey Department of

Environmental Protection.

David J. Der Arakelian, 27, on October 22. Enrolled at

Mercer College, he had worked as a bridge inspector with Michael Baker

Jr. Inc. on College Road.

A. Robert Potocny, 65, on October 26. He had been a health

care administrator at RWJ University Hospital and Helene Fuld Medical

Center, and a sales associate with Coldwell Banker.

Elizabeth J. Thompson 62, on October 25. She worked at

Educational Testing Service.


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