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Mr. Woody majored in music at Middle Tennessee State University and worked selling instruments at Gruhn Guitars in Nashville, where he met many of the city's top musicians.
Varian's profit has risen as it has become more involved in selling instruments to life-sciences customers like Merck & Company and university laboratories like Rutgers.
The $330 billion auction-rate securities market involved investors buying and selling instruments that resembled corporate debt, except the interest rates were reset at regular auctions, some as frequently as once a week.
Companies may have a harder time raising money by selling instruments like convertible bonds, which can be exchanged for shares, because many investors short stocks to hedge against the risks of owning these instruments.
Complete Genomics, a Mountain View, CA-based company that offers a sequencing service rather than selling instruments, reported last November sequencing three human genomes for an average cost of $4,400 in reagents.
Beyond its unique technology, Complete Genomics has also chosen an unusual business model: rather than selling instruments, as most sequencing companies have done, it plans to offer sequencing services through a commercial-scale genome center.
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