And his Public Service has been wrongfully attacked. Former virginia govnor r bob mcdoell and his wifeaureen were indndicted tuesdaday on fel corruption chaharges. They allegedly accepted g gifts, vations and loans from former Star Scientific ceo jonnie williams, who was seeking special treatment for his business. The indictment includes re fraud and false statements. Mcdonnell calls the aegations falls and says he deeply regrets accepting gifts and loans. He says he takes responsibility for his poor judgment. According to a new report for bloomberg, canada has surpassed the u. For business friendlinessss. Hong kong first, canada second and the u. S. Third. Last year canada was sixth and the u. S. Second. The bloomberg ranking used ecomic integration, startup costs, labor and material costs, transportation, inflation and corruption as well as the consumer base. Boeing is hiring contract workers. Wants to avoid manufacturing issues that could slow overall output of theigh tech plane. Boeing is hiring about 300 contract mechanics, part of an effort to increase production, and investors like the sound of that. The companys stock price rose sharply when theen news broke. Amazon. Com has found a way to make deliveries even faster. Amazon has filed for a new patent for its anticipatory shipping. Thonline giant will use a massive amount of data it collects. Amazon knows about your searches, purchases and wish list, even how longer mouse hovers over an item. Items will predict which will be popular in areas, and ship items to hubs in the areas. Be cute,ly, they might but they can also be dangerous. New test results showed most minicars did not do well in frontal car crash tests. The Insurance Institute for Highway Safety evaluated 11 the eccles. Only one earned an acceptable rating, and that was the chevy spark during the worst performers, honda fit and fiat 500. Officials found that upon impact, the steering column was bent back towards the driver and during the fiat testing, the front door opened after the hinges tour, meaning the driver could have been thrown from the car. Happens regulates what when the front corner of the drivers vehicle collilides with another vehicle or Something Like a tree or telephone pole at 40 mileser hour. Umventures is a local academic and Business Success story. It is the marriage of research and business. It takes ideas out of the lab and commercializes them. Umventures is part of the unersity of maryland baltimore and college park and works with a local biotech industry to commercialize research. If a researcher discovers something useful in a lab, umventures helps assess whether or not there is a market for that idea. More often than not some of those ideas are turned into successful businses. Umventures has two large businesses. Joining us is jim hughes, the head of umveures. Im curious. President obama was in North Carolina this month talking abt the imimportance of the academic and business worl ming together to innovate. What is it about the acacadec setting that makes it such a a good partner f for innovation . Center,e academic partrticulularly in th area we have a tremendous amount of research. ,e have two universities bringing in over a billion dollars worth of research each year. That researcrch is into biotech, coming up with new drugs, new communicication systems. Its ever a rich environment with wonderful ideas that are being generatated. We have the next generation of Business Leaders and entrepreneurs, as stents. In manyespects it is an Untapped Potential between the research and the students that are residi within the ununiversities. When youre looking a at a prproduct, are you focusing on researchers s comingut of the professors . Is it student idea . It is both. Most of the ideas have come from facult but increasingly we are finding the stududents are the st entrepreneurial. Its partly the way technolology has changed, with the advances innformation tecology and software. You find my of the best ideas bebeing innted by students s in between n doingomework. H have the be some big wins so far . Onhe one hand we have ve successful graduates who became entrepreneurial when they were at the university of maryland. One man is the cofoundnder of google. A local entrepreneueur, who is very entrepreneurial ihiss yearars s at college park, is nw head of f under armour. He founded a very large Sports Apparel company, and theyre based baltitimore, and have employed hundreds of people there in a short period time. E. Kevin has become a leader of the maryland Business Community and the u. S. Business community. Goes,far as umventures are there new Technology Products that are in the works that you guys are cited about that have the potential to be one of those lifchanging breaktghs . Absolutely. In the last 12 months, we founded 11 new startup companies, range of different disciplines, bioscience, environmental technologies, i formrmation technology. We founded a couple ofears ago, on the speech o omnispeechch. She is head of our Communications Speech lalab and through her research of many years, she was focusing on the technology, Noise Cancellation tetechnology. Ure on a cell phone, youre trying to commuca, theres lot of bacackground noe. How do you pick k out just the voice . It is relalatively expensive technology. She s veloped a Software Program ththat can identify spec from theackground noise. E. This is a Software Package that we thihink ultimatelely will ben most cell phones. Rightow discussions with a major auto manufacturer about including it in their navigation system. Sosomeone is in their car in a noisy environment and trying to say wherere they want to go d what help ththey mig need, and breaking through all that baground noise and idedentifying the voice. W will finally understandnd me. You are leveraging about a billion dollars worth of research. Isis there pressure to turn a profit . Bsolutely. The research unto itself is coming up with major breakthroughs that are improving withoutfe, even breaking a profit. But we are trying to have a big impact on e economy. Startup compans are driven to ve a profit, attract ininvestors. Onone of our biotech cpanies based in baltimo hasotteten great traction over the last couple of years, therapeutic r autoimmune and cancer. Just in the last six months, the have signed a 25 million licensing deal wh pfizer. That is the upfront paymt. We expect ch additional money willll be coming in. The Company Needs to be profofitable. Ththat funding helps us to bring this idedea that previously wasn the University Lab out into th marketplace. , jim hughes from m umventures thank u for coming on and talking toto us. When we come back, the man who blames our slowgrowing economy for increasing inequality. The u. S. Is under performinig at many levels. On thenternational markets and here at home. Who is to blame d how do we fix it . Peter morici is a professor at the university of maryland, robert h. Smith scol of business. Certainly notable. Howo we fix the problems . We have to stop focusing on dividing the pie. The president is focused on income D Distribution and his reonse is to readivide the pie. If you look at china or germany, they focus on making the pie bigger, having germans perform in next boards, and that way people find jobs. The bestocial prograram is a job. That is true. Iteepseople working and employment is what drives the economy. Look at the bloombererg report e talked about in n the setup pie, how canada wewent past thu. S. As far as business friendly countries to number three. Abouthat Say Something the u. S. Falling more than about canada succeeding . This is something barack oba cannot blame on his successor. In george bushs era and a clinton era, this is consisiderd a business friendly place. Now when y you have a government that over regulates the private sector a and does not focuon getting it right so you have the outcome you want, but creating as many jobs as you can for operatives who supported you doing a companion can still gamblingre up there. Its those kinds of things that make the country unattraractive. Is it unfair to blame T Obama Administration when you have aongrs who has barely been able toass anything, it seems, over the last couple of years . You have a deeply dividedd house amongst threpublicans, and you have the senate in control the uncertainty, the shutdown and the fiscal cliff it starts to feel like groundhohog day here in washington. Doesnt that start to undermine Business Confidence . Lets look at what he has gotten de. Doddfrank h hasied up the financiall sectotor in knots. I have small banks to tell me they need to get out because off the level of regulation. It concentrates desits i in the hands of l large banks. 60 , five banks. They do not want to mamake loans to main n streetet companies. As obamacare been a citadel of success . Has obamacare been a citadel of success . Its time for him to make obamacare work. Now he wants all caps of initiatives. Finish the jobou started. You put a lot of blame on the obama admiministration. Reform, everyone agrees it is something that needs to be loedt as far as s tax structure in this country. Would agree with this, we dont always d do the best in the u. S. Economy of playing to the strengths of college gradaduates. We dont play to our strengths overall. Theongress for many years has made it impossible to drill offsfshore. We cannot drill of the atltic coast, the p pacific coa, and half the gulf of mexico. If we started illing offshore we would probably produce lion barrels amil day. Thats a lot of jobobs. On tax refororm, the president s to blame. On other issues, the republicans are e to blame. He have the hiest Corporate Taxes in the world. When we talk about Corporate Tax rerm, e left is happy toto say we will dodo this in a way that will raise revenue. No, we have to do it anyway the lowers the rat on companies. N a way thatat lowers the rates on companies. Giving grandma i voucher mr. Ryan will probably repackckages Voucher Program for the elderly in the seventh way this year and it will probably still be a nonstarter. Were going to come back. I i wanto talk about you feelings aboutow the economy and lack of economic recovery is leading to inequality. Welcome back. Were joined again by economimit peter morici, professor at the university of maryland robert h. Smith school obusiness. One of the things we were starting to talk about is how the economic troubles in thehe u. S. Are fostering inequality. Tell me abouout that. We have been n pursuing through democratic and republican administrations a freetrade policy, which is ok with me except f for the fact that it is one way with regard to china. It creates lots of opportuties in theple who do thihings entertainment, sofare business and investment banking. They make lo of money and bigger markets make them richer. Products,itive automobiles we cannot penetratate their markets with what we may care. A consequence, unemployment in that sectorand ththat depresses the greamiddle. The ama administration has been made aware of this i economists on the left such a paul krugman. Does notot want to take the isse up. When the president does not want to address the problem and focuses on whether we should pay folks to work at mcdonalds seven dollars an hour or nine dollars, we have those jobs. Thones we dont t have are the ones you do not t want to go after. R. How can we fix where we are . . I did not want to say we are in a malaise, b there is s been a very slow w recovery. W do we fix i thehere are four things we ed to do. We need to develop oil andas. To finally open up asian rkets to american products. Its that simple. We need to use a crowbar and if necessssary a a basebaball bat a nail a at the end to do buness with china so the trade balance balances out and we get rid of all this unemployment. We nd to make thihis economy more efficieient. I have no quarrel witthe regulatotory g goals of this administration. I do quarrel with how ineffectively they do it and the terrible cts they impose on Business Trade mr. President , if youre listening, i can get itit done cheaper and so can a lot of other people. Enough is enough. Regulators at jpmorgan when the london whale came Dow Jae Dimon c convinced your folks there was noththing going there. Guess whwhat, there was. Expenses, ineffective regulation. Lets get regulatory reformm rit. The market is not wortrth in health care does not work in alth care. That is 1 of the u. S. Economy and it should be 12 . If we haseven percent by doing it the german way, it requires regulating the Health Care Market properly and having price regulations. If we did itit the germa way, we woululd ha that sevennercent to enrich the middle and bottom of america andd we would grow more rapidly, and Income Distribution would be more even. Something that is going right right now. Something thahat is going right. The development of ohore oil and gas has been a great boom rate the automobile iustr espeally ford, are doing some innovative things. Doing auring overall is lot of innovativive things and t just needs more opportunities. Peter moric, thanyou for joining us. Stay with us. Itttime f for our pick of e week. Kathy korman freis an entrepreneneur who started the t mamas pject, t worlds largrgest case e studyy library. E teaches at the George Washington school of business and has her mba a from h harvar. Every week and she shshares with us a b book we s should be rdin. Up this week, do you think entrepreneneurs are born or mad . Enidick this week, the resited by michael gerber. Kahty says it is a classic. Person dog everything, you cannotrow. The book teaches us how to focos on the big picture. Up next, josh fry. Former president of the Entrepreneurs Organization in the d. C. Region. His pick. Media group. F aha she has gone from parttime passion to fulltime profit. Her clients range om smamall Health Care Institutions to fortune 500 compies. The mediteams highly skilled writers and they develop content fobusinesses, helping ororganitions cleay communicate eir ssion and goals. It is still growi, and that is why it is our entrepreneur pick of the week. Thanks for watching. From you. Aring please join the convnversation. You can find thewashington Business Report on facebook or tell us what we think youou think ontwitter. R. Rebecca cocooper is back next week. Thanks for watching. This week on Government Matters the thing that is likelyo raise the bar is Government Data consolidation efforts. A cloud approach designed for government generateses private sect were appeal. Sector appeal. There is clearly limed support in congress. President obama wants to retool theay the nsa collectcts data. Does he have time . Not only the buildings they own, but also the buildings they lease. They are going to dedicate tt money to where they get the biggest bang for their buck