March 25, 2011

Zero G on Ford's factory floor

By Eilene Zimmerman, contributing writer


Equipois' zeroG arm helps workers manipulate heavy tools as if they were weightless.

(CNNMoney) -- Building things like airplanes and cars takes heavy lifting for both workers and their employers: Injuries from overexertion cost U.S. companies more than $13 billion each year. Enter a Garrett Brown, an inventor who wants to revolutionize factory work the same way he revolutionized Hollywood back in 1976.
That's when he unveiled the Steadicam, a stabilization arm that eliminates jolts and shocks from camera movement. Using the same fundamentals that drive Steadicam technology, Brown invented a "zero gravity" industrial arm that attaches to heavy tools like riveters and grinders, making them effectively weightless for their human operators.
Brown teamed up with former Panavision executive Eric Golden, who recently brought the technology to market through Equipois, a Los Angeles startup.
"You can have something that weighs 25 pounds and move it with your fingertips, as if you're in space," Golden, 42, says enthusiastically.
Equipois' "zeroG" devices -- roughly the size of human arms -- are made of aerospace-grade aluminum and steel, come in two sizes, and require no outside power to operate. Instead, they simulate weightlessness by creating a counterbalance: each arm uses a large spring that pulls upward with constant force on a tool.
"The actions cancel each other out," Golden explains. "When the arm holding the tool moves, the position of the end of the spring changes to compensate for the movement. That's 20 pounds of lift on a 20-pound tool, no matter where it's positioned."
The zeroG arm uses a gimbal -- a structure to hold the tool in place while allowing it to rotate freely -- so factory workers can manipulate familiar tools the way they always have. And the arms can be mounted almost anywhere: on walls, tables, floors or mobile carts.
Although Brown developed the actual device, the idea originally came from an industrial engineer at Honda, who approached him in 2006 to ask whether Steadicam arms could be used to hold tools. Not long after, Brown and Golden met at an entertainment industry trade show. Golden wanted to find new uses for Hollywood technology -- bringing techniques from "The Industry" to heavy industry -- and believed that a Steadicam-style arm could meet a critical need on factory floors.
In early 2007, with $2 million from friends and family, Golden launched Equipois, with Brown as his top inventor and consultant. After three rounds of venture funding, Golden has raised an additional $10 million.
Equipois began selling zeroG arms three years ago to major manufacturers that now include Ford, Boeing, John Deere and the U.S. Navy. The company has 22 employees and at the end of 2010, annual sales hit $1 million. The larger arm costs about $10,000, and the smaller one goes for $5,000. The devices aren't cheap, but Golden says his customers report productivity increases of 30% to 50% percent.
"Because it uses no electricity -- just springs -- it's actually much cheaper than our current method of tool support," says Allison Stephens, a technical specialist at Ford Motor Company (FFortune 500) who manages the manufacturer's assembly ergonomics worldwide. Ford uses 10 zeroG arms to assist the human operators running high-torque tools to secure car parts.
"We selected jobs that had difficulties because of heavy tools, and operators who had medical visits because of that," Stephens says. "We've seen some great results -- no injuries when the arms are used. We are going to incorporate it into our engineering strategy."
James Mallon, a vice president at Humantech -- an Ann Arbor, Mich., management consulting firm focused on ergonomic engineering -- calls the zeroG arm "revolutionary."
In ergonomics, the concerns are high force and repetition. "Equipois' arm completely removes the force, but doesn't inhibit a tool's use," Mallon says. "That's hugely innovative."
Golden says his biggest challenge so far has been the global recession. "We started out slower than we could have, and there was a period a year ago when big manufacturers just weren't spending money, no matter what the investment," he says.
"We tried to get companies to try one arm, even if they really needed 20, because in 2009 it was difficult to get the money to buy any. We wanted each customer to have at least one success story from using it," he recalls. "When they started coming out of the recession, they'd know where to put their money."
Now the money is finally starting to loosen up. Golden can't wait for his customers to ramp up their capital spending: "I really feel like we're going down the right path," he says. "I would grow faster if I could." To top of page

March 20, 2011

Stocks fall for week as Japan weighs on markets

chart_ws_index_dow.top.pngClick the chart for more market data.
By Ken Sweet, contributing writer



NEW YORK (CNNMoney) -- U.S. stocks rose for a second day in a row on Friday, as news of a cease-fire in Libya eased traders' concerns about developments in the Middle East. However, the ongoing turmoil in Japan led U.S. stocks to fall for the week.
The Dow Jones industrial average (INDU) climbed 84 points, or 0.7%, to 11,859; the S&P 500 (SPX) added 5.5 points, or 0.4%, to 1,279; and the Nasdaq Composite (COMP) rose 7.6 points, or 0.3%, to 2,644.
For the week, the Dow fell 1.5%, the S&P 500 lost 1.9% and the Nasdaq dropped 2.7%. While the Dow and S&P 500 remain modestly higher for the year, this week's declines have now put the Nasdaq down 0.4% year-to-date.
Stocks were higher throughout Friday's trading session as investors welcomed two pieces of encouraging news: Libya's cease-fire and the G7's Japanese yen intervention plan.
The financial sector kept the momentum going, after the Federal Reserve gave the green light for several big banks to raise dividends and buy back shares. Among the firms to announce dividend hikes were JPMorgan Chase (JPMFortune 500), Wells Fargo (WFCFortune 500) and USBancorp (USBFortune 500), which each saw their shares climb.
The Libyan government announced an immediate cease-fire after the United Nations voted to impose a no-fly zone over the country. However, witnesses in the besieged city of Misrata told CNN a fierce pro-government assault was persisting.
Oil prices, which had ticked higher on the U.N. vote, turned lower after the cease-fire announcement. Crude prices fell 25 cents to $101.15 a barrel. Earlier in the session, prices neared $104.
And while Japan continues to struggle with its nuclear power plants, the Group of Seven major economic powers announced a coordinatedintervention to prevent the Japanese yen from rising further. The announcement helped the yen ease and boosted the Nikkei 2.7%.
"It's good to see leaders acting to provide stabilization in the currency market -- it gives the market confidence," said Anthony Conroy, head trader with BNY ConvergEx.
The Japanese yen had been driven sharply higher in recent days by global uncertainty and the prospect of more cash flowing into Japan.
Because Japan is heavily reliant on exports to drive its economy, a strong yen would put a difficult headwind against what is already a struggling economy, said Bill Stone, chief investment strategist with PNC Financial.
"A little weakness in the yen would be a good thing," Stone said.
U.S. stocks closed broadly higher Thursday, rebounding after two days of sharp declines.
World markets: European stocks closed higher. Britain's FTSE-100 added 0.4%, the DAX in Germany notched up 0.1% and France's CAC 40 gained 0.6%.
Aside from the Nikkei, other Asian markets ended higher. The Shanghai Composite rose 0.3% and the Hang Seng in Hong Kong added less than 0.1%.
Companies: Cisco (CSCOFortune 500) shares rose 0.8% after the company announced a new 6 cents-a-share dividend.
Nike (NKEFortune 500) shares tumbled 9% after the company reported disappointing earnings and said it would raise prices on many of its products because of higher commodity prices.
Celera (CRA) shares soared 34% Friday after Quest Diagnostics (DGX,Fortune 500) announced it would buy Celera for $344 million, or $8 a share.
Shares of tax-software maker Intuit (INTU) rose 3% after the company said that the number of users of its TurboTax software jumped 7% compared to a year ago.
Currencies and commodities: The dollar fell against the euro, but gained versus the British pound.
Gold futures for April delivery rose $11.90, or 0.8%, to trade at $1,416.10 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.26% from 3.27% late Thursday.  To top of page

March 17, 2011

4G sticker shock? New Verizon phone for $250

By Julianne Pepitone, staff reporter


NEW YORK (CNNMoney) -- Verizon said Tuesday that its first 4G smartphone, the HTC ThunderBolt, will be available in stores and online starting March 17 for $249.99 with a two-year contract.
It was a long awaited announcement, as the ThunderBolt will be the first phone to take advantage of Verizon's 4G LTE network -- which offers download speeds of 5 to 12Mbps and upload speeds of 2 to 5Mbps.
But the ThunderBolt's $250 price point is higher than most other smartphones, which typically debut at $199 -- including the new Verizon iPhone.
The ThunderBolt runs on Google's Android 2.2 and is powered by a 1GHz Snapdragon processor from Qualcomm (QCOMFortune 500). It features two cameras, a kickstand for media viewing, 8GB of onboard memory and a pre-installed 32GB microSD card.
The phone can be used as a mobile hotspot to share Internet connectivity with up to eight Wi-Fi devices. Verizon (VZFortune 500) will include hotspot service for free through May 15. After that date, the service can be activated for $20 for 2GB of data per month.
Calling plans start at $39.99 per month, and unlimited 4G data plans cost $29.99 per month.
The ThunderBolt supports Google (GOOGFortune 500) mobile services including Gmail and YouTube, and it features 4G-optimized apps including EA's (ERTSFortune 500) Rock Band, Gameloft's Let's Golf, Tunewiki, and Bitbop.
Earlier this month, a comScore report showed the Android operating system became No. 1 in terms of market share in January, beating out Research in Motion's (RIMM) BlackBerry for the first time. Android passed Apple's iOS in November, according to comScore.
Meanwhile, it's unclear how successful the Verizon iPhone has been as of yet. It went on sale last month, but Verizon has stayed mum on sales figures. A Verizon spokesman has said the company won't release those figures until its corporate earnings report. To top of page