News from November 2016


Arizona Corporation Commission fines two over unlawful securities sales, misleading investors

The Arizona Corporation Commission revoked the registration of a Phoenix securities salesman for unethical conduct and sanctioned a Scottsdale man for selling unregistered securities involving real estate transactions while not registered to do so.

Arizona Technology Council CEO to be honored as executive of the year

Arizona Technology Council President and CEO Steven Zylstra was named the Arizona Society of Association Executives' (AzSAE) Executive of the Year this week. 

Chandler-based Insys Therapeutics under legal scrutiny over opioid sales

Pressure, both financial and legal, is growing on an Arizona-based drug company that relied on the sales of a powerful opioid to drive its revenue.

Phoenix's Freeport-McMoRan sells its stake in Bermuda holding company

Freeport-McMoRan Inc. (FCX), headquarterd in Phoenix, recently said it completed the indirect sale of its 70 percent interest in TF Holdings Limited (TFHL) to China Molybdenum Co. Ltd. for $2.65 billion in cash.

Freeport-McMoRan stock offering raises $1.5 billion

Phoenix-based mining company Freeport-McMoRan Inc. (FCX) said last week it has completed its at-the-market offering of common stock that was announced on July 27, raising $1.5 billion in gross proceeds during the sale of 116.5 million shares of FCX common stock.

Salt River Project approves bond sale

Salt River Project’s board and council recently approved the refunding sale of more than $761 million of 2016 Series A public power revenue bonds, which will ultimately save customers more than $151 million over the next 21 years.

Tempe reminds residents to shop and give locally this holiday season

Shop and give locally this holiday season to help employ neighbors and keep city services strong, according to a Tempe announcement.

Gallery at Tempe Center for the Arts hosts biomimicry art challenge

The Gallery at Tempe Center for the Arts, sponsored by Northern Trust, is holding a biomimicry challenge that will give an artist studio space for 10 weeks during the challenge.

Ducey, tribal leaders affirm native gaming agreement amendments

Gov. Doug Ducey and nine tribal leaders met to affirm amendments to the Indian gaming compact and solidify a promise made 15 years ago.

Rawhide Western Town open for annual Snowy Christmas event

Rawhide Western Town and Event Center has officially opened for its fourth annual Rawhide Snowy Christmas event.

Tempe encouraging residents to recycle cooking oil, grease

The city of Tempe said cooking a turkey can create a significant amount of grease, whether the bird is roasted or deep-fried.Instead of pouring the turkey grease down the drain or into the garbage, the city suggests recycling it or other cooking oil by dropping it off at four convenient locations through Jan. 4.

Credit Union West, Desert Medical Federal Credit Union to merge

Glendale's Credit Union West and Desert Medical Federal Credit Union, based in Scottsdale, have agreed to merge operations following recent approval from the Desert Medical Federal Credit Union membership and board of directors.

Greater Flagstaff chamber adds Young Professional board seat

The Greater Flagstaff Chamber of Commerce said last week it has named Drake Louks, CEO of Arizona Tech Advisors, to its newly created Young Professionals seat and its board of directors.

APS joins nationwide effort to remind consumers of scammers

Arizona Public Service (APS) joined other utilities last week for the first ever Utilities United Against Scams Day to warn customers about the continued threat of consumer scams.

Greater Phoenix chamber delegation visits Washington to discuss Trump presidency, policy issues

A coalition of Arizona business leaders visited Washington, D.C. after the presidential election to meet with U.S. Chamber of Commerce leaders to learn more about what to expect under a Donald Trump presidency.

Arizona chamber has new vice president of education policy and budget

Whitney Chapa has joined the Arizona Chamber of Commerce and Industry team as its vice president of education policy and budget.

Take Charge America wins grant from Cox Charities for life-skills workshops for youth

Take Charge America, a nonprofit credit counseling and debt management agency based in Phoenix, has been awarded a $4,000 grant from Cox Charities to help the agency’s work with at-risk youth.

Scottsdale-based Zensights taps new president

Zensights said this week that Will Passano will become the new president of the Scottsdale-based pharmaceutical vendor management company.

Palo Verde Nuclear Generation Station undergoes maintenance, refueling in record time

Arizona Public Service Co. (APS) said its employees wrapped up a refueling and maintenance outage at the Palo Verde Nuclear Generating Station in less than a month.

Scottsdale-based Caliber CEO named among top hotel innovators

Chris Loeffler, the co-founder and CEO of Scottsdale-based wealth-development company Caliber, has been named among Lodging Magazine’s Top 50 Hotel Innovators.