Category: News

  • The Graduation Advice We Wish We’d Been Given

    In this time of hope and decorative mortarboards, we reached out to some of our favorite writers, asking them: What do graduates really need to know about the world of work? Their answers are below.

    HalvorsonHeidi Grant Halvorson
    Associate director for the Motivation Science Center at the Columbia University Business School and author of Nine Things Successful People Do Differently.

    There will be obstacles, setbacks, challenges. Many things will be more difficult than you thought they’d be. The key to success (scientifically speaking) is perseverance. You’ve just got to hang in there — there’s no other way to win. But how do you do it? A great way to be more resilient is to stop comparing yourself to other people, and compare yourself to your own past performance — last week, last month, last year. Are you improving? That’s the only question that matters.

    GulatiDaniel Gulati
    A tech entrepreneur based in New York, he is a coauthor of the book Passion & Purpose: Stories from the Best and Brightest Young Business Leaders.

    The tough, thorny problems are the most valuable ones, but most people will shy away from the challenge. Solve these problems.

    ClarkDorie Clark
    A strategy consultant who has worked with clients including Google, Yale University, and the National Park Service. She is the author of Reinventing You: Define Your Brand, Imagine Your Future.

    In a world of layoffs, outsourcing, and industry disruption, the only “career insurance” you can get is through figuring out the answer to one particular question: how can you make yourself truly valuable professionally? Most recent grads assume they’ll do OK if they work hard. But doing the assigned job is table stakes, and not enough to matter very much when other, cheaper options become available for your employer. You need to hone a skill no one teaches you in college, and few people in the workforce understand: the ability to identify problems no one has explicitly articulated, and then solve them.

    How can you make yourself a connector in your company, and share information with those that need it? How can you lend a unique perspective to corporate discussions? What minor task or gruntwork can you take off someone’s plate, thereby earning their gratitude? What leadership position — perhaps that no one else wants — can you leverage to build connections and a solid professional reputation? Answering those questions isn’t easy. But if you can do it, you’re miles ahead of the legions who don’t even grasp they should be asking them.

    WesselMaxwell Wessel
    A member of the Forum for Growth and Innovation, a Harvard Business School think tank developing and refining theory around disruptive innovation.

    There are a thousand paths in front of you. The ones you know about are often safe and unobstructed: work for a big company in a narrow role, get a promotion, get a slightly bigger role, take on a mortgage, buy a house, wait for the next promotion to pay down your debt, etc. Those paths were developed by people who rely on process and rules to tame the chaos that is life. But those paths, the ones you learned about in your career offices aren’t the only ones afforded to you. You can dare to be different. You can break the rules. And while some will scold you for it, others will shower you with outsized reward.

    MerchantNilofer Merchant
    She’s the author of 11 Rules for Creating Value in the Social Era.

    As you go out into the world, ask yourself, “which network do I want to plug myself into?” Today, connected individuals can now do what once only large centralized organizations could. This means that you don’t need to belong to a big firm to create value, but you do need to work alongside talented people. So don’t look at the organizational name or the title you’ll have. Those are relics from the industrial era. In the social era, look to the relationships you’ll have because these people with which you’ll work hold the keys to what you’ll create and achieve.

    JohnsonWhitney Johnson
    She’s is a co-founder of Rose Park Advisors, Clayton Christensen’s investment firm, and the author of Dare-Dream-Do: Remarkable Things Happen When You Dare to Dream.

    Take the hardest job you can find in a city where there are lots of smart people. Statistically, you will have changed jobs in less than two years. Maybe even fields. You want your first job to open even more doors than were open upon graduation.

    AllworthJames Allworth
    He is the co-author of How Will You Measure Your Life?. He has worked as a Fellow at the Forum for Growth and Innovation at Harvard Business School, at Apple, and Booz & Company.

    Understand the way your mind works in relation to motivation. Money, a fancy title, a prestigious firm — these are what are known as extrinsic factors. Your friends and family can see them, you can put them on a resume, or discuss them in a job interview. But these visible, extrinsic factors are not a source of contentment. Rather, the research suggests they’re actually a source of discontentment &#8212 when they’re absent. In other words, having these extrinsic motivators in abundance won’t make you happy; instead, all that abundance will result in is an absence of dissatisfaction. That’s (obviously) not the same thing as being satisfied.

    True motivation relies on a very different set of factors: they’re intrinsic in nature, much harder to measure, and may even be unique to you. Being given the opportunity to shoulder responsibility and work independently. The ability to learn and grow. And, perhaps most important of all, doing something you think is meaningful. Understanding that our minds work in this way &#8212 that there’s not a single spectrum all the way from “love it” to “hate it” &#8212 but rather, two spectrums that are at work completely independent of each other: one which will cause us to be dissatisfied (extrinsic) if absent, and another that will cause us to love what we do (intrinsic) if present… well, learning that has totally changed the way I think about my working life.

    WilkinsAmy Jen Su & Muriel Maignan Wilkins
    They’re the co-founders and managing partners of Isis Associates and authors of Own the Room: Discover Your Signature Voice to Master Your Leadership Presence.

    Amy Jen Su: Recognize you have the power of choice at every moment available to you: choice in what you do for work, who your friends are, even what your attitude will be for the day. Be conscious, stay awake, and live with your eyes wide open. Own your life and career. Accept the trade-offs inherent in every decision and choice you make. For every “yes” there is an implicit set of “no’s” you are saying so make your choices and commitments wisely.

    Muriel Maignan Wilkins: Embrace your “good enough.” Don’t let others and circumstances dictate what you should be or what you should aspire to. Establish what your “good enough” looks like early on — that wondrous place between settling and perfection where you are content with what you have to offer life and what life offers you.

    PetriglieriGianpiero Petriglieri
    An Associate Professor of Organisational Behaviour at INSEAD, where he directs the Management Acceleration Programme, the school’s flagship executive programme for emerging leaders.

    If your graduation speaker calls you a “future leader,” cover your ears. Don’t let that “future” label stick. If you aspire to lead — and have a goal, a dream, a purpose — begin now. Leadership is an activity, not a destination. Pursuing that dream will give you thrill and heartache, hope and frustration. It will give your work meaning and make you feel alive. That pursuit, however, will rarely set you free or make you happy. Those you will only get once you learn to surrender. To life and love. This is why you need to make sure that yours is a real dream and not just an obsession. How can you tell the difference? An obsession owns you. It asks you to surrender life and love to it. A dream holds you, while asking that you surrender to both.

    Fernandez-AraozClaudio Fernández-Aráoz
    The author of Great People Decisions.

    Begin with the end in mind: Who do you want to be? What legacy do you want to leave to our world, you partner, your children? Second, always do what you enjoy. Many times “success” will lead you to promotions which will become the envy of your friends, while leaving you empty and pulling you away from what you really love to do. Periodically assess what you are doing, find out what you don’t like to do, and just stop doing it. Finally, surround yourself with the best by proactively and carefully choosing your partner, your friends, your boss, your colleagues. You can’t do it alone, and in great company even the toughest times magically become glorious journeys.

    MohammedRafi Mohammed
    He’s a pricing strategy consultant and author of The 1% Windfall: How Successful Companies Use Price to Profit and Grow.

    Volunteer for the garbage. Most of you won’t get a prime job or high-profile assignment right out of the chute. Don’t despair; instead cheerfully take on the worst assignment that no one else wants to do and super-excel on it. By making a success of a project that everyone dreaded, it’ll be easier to showcase your talents. This recognition and gratitude will set the platform for you to be selected for the next high profile “we need to execute perfectly” opportunity. Trust me: I’ve seen a lot of people succeed (advancing within an organization or landing a better job) by following this route.

    DillonKaren Dillon
    She’s the former editor of Harvard Business Review and co-author of How Will You Measure Your Life?.

    Be interesting. When you sit in that interview, don’t assume that the lines you can write on your resume will be enough to get your foot in the door to the job of your dreams. We’re going to spend long hours, five days a week working together. I don’t want to work with someone who is narrow and boring. Have opinions — on politics, on pop culture, on favorite writers or thinkers. Have personal interests that may have nothing to do with the job at hand. Have something to say.

  • New “clues” about the Bitcoin founder — and the case for leaving him alone

    Surging interest in Bitcoin, the crypto-currency that is mined and distributed without a central bank, has brought a fresh wave of speculation about its pseudonymous founder, Satoshi Nakamoto.

    The latest theory comes from IT pioneer Ted Nelson, who offers a three-part hypothesis – based on the Bitcoin inventor’s intelligence, publishing methods and interests — to show that Satoshi can be none other than Japanese math professor Shinichi Mochizuki.

    Nelson’s “deduction” (which Forbes and others have portrayed as more crackpot than convincing) comes weeks after programmer Sergio Lerner published a blog post that claims to show Satoshi has mined a fortune worth of Bitcoins, and that he has spent only a small fraction of it. A related report by The Verge endorses Lerner’s account and says the financial trail provides new clues to help establish Satoshi’s identity.

    This “who made Bitcoin?” buzz is a fun parlor game, especially at a time when everyone from serious investors to Homeland Security are clamoring to get a piece of the new currency. But, while many of the guesses are as silly as saying Lewis Carroll is Jack the Ripper, the process also raises the question of whether Satoshi is entitled to be left in peace.

    Last week, someone who has corresponded with Satoshi told me he believes the Bitcoin inventor is one person, not three as some suggest, and that he is not Japanese (this is consistent with the Forbes writer’s theory that the pseudonym is a tribute to 1980′s Tokyo cyber-punk culture). I asked him why Satoshi has decided to remain anonymous in the first source.

    According to the source, who is a Bitcoin developer and did not want to be named for this story, Satoshi’s motives are not rooted in myth-making or anything sinister. Instead, they reflect a simple desire for privacy and are consistent with the ethos of open-source coders who work on a project out of altruism or interest and then pass it on to others when they want to move on.

    If this is the case, then Satoshi is part of a tradition of private people who eschew the spotlight and prefer to let their work speak for themselves. It’s easy to think of others such as Groklaw‘s Pamela Jones (who does heroic work opposing software patents), cartoonist Bill Watterson and literary figures like Harper Lee and Emily Dickinson. Together, these quiet and relatively anonymous figures provide an inspiring counter-narrative to suggestions by Google and Facebook that anonymity is somehow sinister and that our entire selves should be open for media merchandising.

    The point is that we may never know the identity of Satoshi Nakamoto — and that’s okay.

    (Image by Shutterstock 69195535)

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  • Newsle Raises $1.65 Mln Series A

    Newsle said Monday it raised $1.65 million in a Series A round of venture financing led by Advance Publications Inc. Maveron, DFJ,Transmedia Capital and Launny Steffens, and previous investor Rockwell Schnabel also participated. San Francisco-based Newsle is a web app that is said to track news about you, the people you know and anyone that interests you.

    PRESS RELEASE

    SAN FRANCISCO — May 20, 2013 — Newsle, the news discovery engine for the world’s most connected professionals, today announced that the company has raised $1.65 million in a Series A round of venture financing. The round was led by Advance Publications Inc., along with participation from Maveron, DFJ,Transmedia Capital and Launny Steffens, and previous investor Rockwell Schnabel. The company also announced that Whitney Shaw, president of American City Business Journals, has joined the board of directors.

    As online news proliferates, professionals are struggling to stay informed without becoming overwhelmed. Today’s professionals have hundreds or thousands of social connections whose activities are relevant to their business. Newsle is the leading online provider that keeps them up-to-date on relevant news from across their networks. As part of this investment, Newsle plans to aggressively grow its development team and expand product offerings.

    “The Internet has transformed news, and effective businesspeople need tools to cope with this transformation,” said Jonah Varon, co-founder of Newsle. “We help people find essential items they might otherwise miss in the flood of online news. This round of investment allows us to grow our team and further establish Newsle as the go-to resource for relevant news discovery.”

    In order to deliver each professional the most relevant news about their network, Newsle continuously combs the web, analyzing over one million articles a day from over 100,000 news sources in real-time. Newsle then extracts the news that is most relevant for each user and delivers this in a daily email or news dashboard. Newsle is more sophisticated and actionable than traditional news alert services or news readers, and more reliable than social media as a channel for news discovery.

    “Newsle has built a fantastic product that every professional should be using,” said Whitney Shaw, president of American City Business Journals. “We’re big believers in the vision of organizing news around people. Advance Publications and American City Business Journals are proud to lead this investment.”

    Newsle’s board of directors now includes: Jonah Varon, co-founder of Newsle, Axel Hansen, co-founder of Newsle, Whitney Shaw, president of American City Business Journals, and Ken Lerer, founder of Lerer Ventures and co-founder of Huffington Post.

    Newsle launched into private beta in January 2011. Newsle is available today in open beta. To sign up and create an account, visit: http://newsle.com.

    About Newsle

    Newsle is the news discovery engine for the world’s most connected professionals.
    Newsle was founded in 2011 and is based in San Francisco, California. The company is venture backed by Advance Publications, Maveron, DFJ, Transmedia Capital, Lerer Ventures, SV Angel, Launny Steffens, and Rockwell & Evan Schnabel.
    More information about Newsle can be found at http://newsle.com.

    The post Newsle Raises $1.65 Mln Series A appeared first on peHUB.

  • Chad Johnson In Custody, Claims It’s A “Misunderstanding”

    Chad Johnson, the former NFL star who found himself without a job when he was released from the Miami Dolphins last summer, was arrested early this morning on a probation violation.

    Johnson is on probation after a domestic violence dispute with his ex-wife, Evelyn Lozada, and has been placed in jail on $1,000 bond. Prosecutors are asking that he spend a minimum of 60 days in jail after he failed to report to his probation officer. However, Johnson says it was all just a misunderstanding and a lack of communication between him and his attorney is to blame.

    “I didn’t do anything on purpose,” Johnson said. “I wouldn’t blatantly not show up.”

    The judge didn’t buy his story, though, and says he doesn’t think Johnson is taking his sentence seriously. A new hearing will take place on June 3.

    View more videos at: http://nbcmiami.com.

  • Browse, play and control animated GIFs with 7GIF

    They may be just about the most primitive form of computer animation there is, but animated GIFs can still be fun, and genuinely useful, so it’s a shame they’re not more widely supported on the PC. Most programs will just display the opening frame, at best, leaving you to guess at everything else.

    There are ways around this, to some extent. Right-click a GIF in Explorer, for instance, select Open With > Internet Explorer, and a browser window will open and play the animation. This is a long way from being convenient, though, so if you’d like easier playback — and a lot more besides — then you’re sure to prefer 7GIF.

    The program is lightweight, portable and entirely free. It’s also extremely easy to use, courtesy of a trimmed down interface which makes it look much like a part of Windows. And so, at a minimum, all you have to do is drag and drop an animated GIF onto the 7GIF window, then watch as it’s played back immediately.

    You also get full control of the animation view. You can freely zoom in and out, for instance, or resize the animation to suit your needs. And Back and Next buttons step you through the images in your current folder, making 7GIF useful as a simple animated GIF browser.

    Better still, the program provides plenty of frame-level options. At its simplest this means you can step backwards or forwards through an animation, one frame at a time. But you can also print the current frame at any time, while there are options to save the current, or all frames as separate images.

    And a host of configuration options means the package can further be customized to suit your needs, perhaps associating it with GIF files, for instance, or setting its window to stay on top of others.

    7GIF could be improved still further with a few minor tweaks, in particular relating to the interface. We would add tooltips to the toolbar, for instance, and maybe include a button to access the main menu (right now you’ll only see that if you think to right-click in the playback area).

    These are fairly trivial issues, though, and for the most part 7GIF does its job very well. If you need an easier way to play back or explore animated GIFs then the program deserves a closer look.

  • Pay TV is hurting, and even skeptics now admit cord cutting could be at fault

    Pay TV had a really bad first quarter this year, with cable companies losing an estimated 263,735 subscribers from New Year’s Day to the end of March, according to the Leichtman Research Group. Satellite TV providers and phone companies with a TV business gained some subscribers during the same time period, but fewer than in previous first quarters, and one of the culprits seems to be cord cutting.

    A bad first quarter is notable for the industry because that’s when it is usually the strongest. The industry added an estimated 445,000 subscribers in Q1 of 2012, and 470,000 in Q1 of 2011. But even with additions from satellite and phone companies, this year’s first quarter was only up around 194,000 – not enough to make up for previous-quarter losses.

    From April 2012 to March 2013, the industry lost a total of 80,000 subscribers, according to Leichtman Research. That’s the first time the research company has ever seen subscriber losses over a 12-month-period, leading president Bruce Leichtman to this assessment:

    “First-time ever annual industry-wide losses reflect a combination of a saturated market, an increased focus from providers on acquiring higher-value subscribers, and some consumers opting for a lower-cost mixture of over-the-air TV, Netflix and other over-the-top viewing options.”

    That’s quite a statement, especially considering that Leichtman has been an outspoken skeptic of the cord cutting phenomenon. In a 2010 New York Times story, he famously called cord cutters “really just a bizarre breed of people, usually in New York or San Francisco, who don’t watch a lot of television in the first place.”

    Three years later, he rightfully cautioned that the numbers don’t necessarily point to a “more dramatic near-term market decline,” even though we can expect further losses in Q2. But there’s reason to be nervous, and a closer look at Leichtman’s numbers shows why:

    Screenshot 2013-05-20 at 9.53.39 AM

    Cable has been bleeding for years, and it’s no surprise to see this continue – even though many had expected a stronger showing for Comcast and Co. But really concerning is the slowing growth in the satellite TV segment, which is where price-conscious consumers have been fleeing to in previous years.

    DirecTV added 184,000 subscribers in Q1 of 2011, and 81,000 in Q1 of 2012. This year, it only gained 21,000 new subscribers in the same time frame. Things didn’t look better for DISH, which dropped from 104,000 subscribers in Q1 of 2012 to 36,000 in Q1 of 2013.

    That’s a sign that people aren’t just looking for a cheaper pay TV option anymore, but actually want to get rid of the traditional pay TV bundle altogether.

    Image courtesy of Flickr user Jason Rosenberg.

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  • When it comes to the social web, these two VCs are in a league of their own

    For every wave of opportunity that comes through Silicon Valley you’ll find a lot of newly minted millionaires, and even some billionaires. But for each sector there’s usually a couple of investors that so utterly own the space that they invest in that it’s like they wrote the rules of the game, and they alone know how to play.

    Following the news that Yahoo will acquire social sharing platform Tumblr for a massive $1.1 billion in cash, it’s becoming clear that two of these investing svengalis are Bijan Sabet of Spark Capital, and Fred Wilson of Union Square Ventures. They’re the venture capital rockstars of the social web as their jaw-dropping track records shows — they have been very early investors in companies like Twitter, Tumblr and Foursquare. Wilson was also early to Zynga, Etsy and Kickstarter.

    paidContent Live 2013 David Karp Tumblr

    David Karp, Founder and CEO, Tumblr paidContent Live 2013 Albert Chau / itsmebert.com

    We’ve seen this pattern before. During the networking boom of the late 1990s, it was Vinod Khosla and Promod Haque of Norwest Venture Partners who scored many of the top deals. Khosla was early to the table with companies like Cerent, Siara and Juniper Networks.

    For the first wave of the consumer Internet it was John Doerr who owned it all, and later during the search boom, he and Sequoia Capital’s Mike Moritz led the charge by investing in Google. Similarly, the shift to the social web (or post Web 2.0) has been a happy hunting ground for Wilson and Sabet.

    bijansabetWhile there are others such as David Sze of Greylock and Jim Breyer of Accel Partners who have found success in social with Facebook, the Sabet and Wilson team has a better on-base percentage. And one of the reasons why these two guys have found gold faster than others is because they are active participants in the social web and invest in what they know.

    Sabet, who moved up to number 51 on Forbes’ Midas List in 2013, was described by Tumblr’s founder and CEO David Karp as someone who “lives and breathes,” social media, and as Karp’s “mentor, friend and partner from day zero.” Sabet said in a post this morning that he met Karp when he was 19 and “was immediately taken with his passion and drive to create wonderful things.” His other investments include Twitter, Foursquare, OMGPOP (sold to Zynga for $180 million), and thePlatform (acquired by Comcast), as well as RunKeeper, Boxee, Jelly, Lyft and Stack Exchange.

    Wilson, who writes the popular blog AVC, is one of the most winning venture investors thus far in the new century. He rose to number 16 on Forbes’ Midas List in 2013. In addition to Tumblr, Wilson has backed Twitter, Zynga, Etsy, Kickstarter, FeedBurner, Lending Club, Zemanta, ComScore and Tacoda (sold to AOL in 2007).

    In a sign of the new power of the New York startup ecosystem, Tumblr is run out of New York, and both Wilson and Sabet are East Coasters — Wilson in New York, Sabet in Boston — but of course spend a lot of time in Silicon Valley. It’s through these two investors, who live across the country from Sand Hill Road, that a major chunk of the web’s leading social brands have emerged.

    Pulling out lessons from these master’s investing practices, would be a good topic for a book. But I’ll run through just a couple I see that are obvious. Sabet clearly has an eye for finding the passionate creator founder early, and has an ability to see the future. Wilson has long practiced what he has preached, is utterly immersed in social and has a unique way with words. He writes this morning on his blog about one of the cliches of VC investing: “success has a thousand fathers.”

    Clearly Sabet and Wilson are two of the main fathers of this morning’s success story.

    Updated at 1:20 PM on May 20, with comment from Fred Wilson. Wilson attributed some of the deals to his Union Square venture partners and says that “investment syndicates are a team.”

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  • Dell backs away from OpenStack public cloud, steps up to Enstratius

    Dell has changed up its cloud strategy again. As of Monday, it has officially backed off on plans to anoint OpenStack as the basis its upcoming public cloud and said it will rely instead on third parties to offer that capability. Dell will act as the single-source supplier front-ending all these diverse clouds, and that decision makes Enstratius, which Dell bought two weeks ago, the focal point of its cloud strategy.

    Nnamdi Orakwue, VP of Dell Cloud

    Nnamdi Orakwue, VP of Dell Cloud

    The company’s first public cloud partners are Joyent, ScaleMatrix and ZeroLag. The rationale: Dell customers don’t want to be locked into a single cloud vendor and would like assurances that workloads can be moved as needed if their requirements change or their current cloud is not up to snuff. ZeroLag gives Dell a VMware-based cloud option.

    There are two takeaways from the news, Nnamdi Orakwue, VP of Dell Cloud, said in an interview on Monday. “First, private cloud success is our bread and butter there our top priority on the open-source side is OpenStack. The second is multi-cloud management and helping our customers deal with it via Enstratius.” The Enstratius management offering supports more than 20 different clouds.

    Orakwue acknowledged that Dell’s cloud strategy has been a work in progress. Late last year, the company said its public cloud would be based on OpenStack and would come out a year later than expected. Today’s news changes that.

    Dell may add other cloud partners to the mix later and could take an equity stake in some of them. (GigaOM’s Derrick Harris wrote in 2011 that Joyent would be a smart investment for Dell if it’s serious about the cloud biz.)

    On the one hand, Orakwue said Dell will be “platform agnostic,” on the other he said OpenStack is clearly its platform of choice on the private cloud side. You have to wonder if that’s a consolation prize for the OpenStack faithful.

    Things are heating up on the public cloud front for sure. VMware is expected to re-announce its public cloud platform – which will run in as-yet-unnamed partner data centers — on Tuesday and the whole topic of public, private and hybrid cloud deployments will doubtless come up at GigaOM’s Structure event in San Francisco next month.

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  • Not just blowing in the wind: Compressing air for renewable energy storage

    Enough Northwest wind energy to power about 85,000 homes each month could be stored in porous rocks deep underground for later use, according to a new, comprehensive study. Researchers at the Department of Energy’s Pacific Northwest National Laboratory and Bonneville Power Administration identified two unique methods for this energy storage approach and two eastern Washington locations to put them into practice.

    Compressed air energy storage plants could help save the region’s abundant wind power — which is often produced at night when winds are strong and energy demand is low — for later, when demand is high and power supplies are more strained. These plants can also switch between energy storage and power generation within minutes, providing flexibility to balance the region’s highly variable wind energy generation throughout the day.

    “With Renewable Portfolio Standards requiring states to have as much as 20 or 30 percent of their electricity come from variable sources such as wind and the sun, compressed air energy storage plants can play a valuable role in helping manage and integrate renewable power onto the Northwest’s electric grid,” said Steve Knudsen, who managed the study for the BPA.

    Geologic energy savings accounts

    All compressed air energy storage plants work under the same basic premise. When power is abundant, it’s drawn from the electric grid and used to power a large air compressor, which pushes pressurized air into an underground geologic storage structure. Later, when power demand is high, the stored air is released back up to the surface, where it is heated and rushes through turbines to generate electricity.  Compressed air energy storage plants can re-generate as much as 80 percent of the electricity they take in.

    The world’s two existing compressed air energy storage plants — one in Alabama, the other in Germany — use man-made salt caverns to store excess electricity. The PNNL-BPA study examined a different approach: using natural, porous rock reservoirs that are deep underground to store renewable energy.

    Interest in the technology has increased greatly in the past decade as utilities and others seek better ways to integrate renewable energy onto the power grid. About 13 percent, or nearly 8,600 megawatts, of the Northwest’s power supply comes from of wind. This prompted BPA and PNNL to investigate whether the technology could be used in the Northwest.

    To find potential sites, the research team reviewed the Columbia Plateau Province, a thick layer of volcanic basalt rock that covers much of the region. The team looked for underground basalt reservoirs that were at least 1,500 feet deep, 30 feet thick and close to high-voltage transmission lines, among other criteria.

    They then examined public data from wells drilled for gas exploration or research at the Hanford Site in southeastern Washington. Well data was plugged into PNNL’s STOMP computer model, which simulates the movement of fluids below ground, to determine how much air the various sites under consideration could reliably hold and return to the surface.

    Two different, complementary designs

    Analysis identified two particularly promising locations in eastern Washington. One location, dubbed the Columbia Hills Site, is just north of Boardman, Ore., on the Washington side of the Columbia River. The second, called the Yakima Minerals Site, is about 10 miles north of Selah, Wash., in an area called the Yakima Canyon.

    But the research team determined the two sites are suitable for two very different kinds of compressed air energy storage facilities. The Columbia Hills Site could access a nearby natural gas pipeline, making it a good fit for a conventional compressed air energy facility. Such a conventional facility would burn a small amount of natural gas to heat compressed air that’s released from underground storage. The heated air would then generate more than twice the power than a typical natural gas power plant.

    The Yakima Minerals Site, however, doesn’t have easy access to natural gas. So the research team devised a different kind of compressed air energy storage facility: one that uses geothermal energy. This hybrid facility would extract geothermal heat from deep underground to power a chiller that would cool the facility’s air compressors, making them more efficient. Geothermal energy would also re-heat the air as it returns to the surface.

    “Combining geothermal energy with compressed air energy storage is a creative concept that was developed to tackle engineering issues at the Yakima Minerals Site,” said PNNL Laboratory Fellow and project leader Pete McGrail. “Our hybrid facility concept significantly expands geothermal energy beyond its traditional use as a renewable baseload power generation technology.”

    The study indicates both facilities could provide energy storage during extended periods of time. This could especially help the Northwest during the spring, when sometimes there is more wind and hydroelectric power than the region can absorb. The combination of heavy runoff from melting snow and a large amount of wind, which often blows at night when demand for electricity is low, can spike power production in the region. To keep the regional power grid stable in such a situation, power system managers must reduce power generation or store the excess power supply. Energy storage technologies such as compressed air energy storage can help the region make the most of its excess clean energy production.

    Working with the Northwest Power and Conservation Council, BPA will now use the performance and economic data from the study to perform an in-depth analysis of the net benefits compressed air energy storage could bring to the Pacific Northwest. The results could be used by one or more regional utilities to develop a commercial compressed air energy storage demonstration project.

    The $790,000 joint feasibility study was funded by BPA’s Technology Innovation Office, PNNL and several project partners: Seattle City Light, Washington State University Tri-Cities, GreenFire Energy, Snohomish County Public Utility District, Dresser-Rand, Puget Sound Energy, Ramgen Power Systems, NW Natural, Magnum Energy and Portland General Electric.


    Details on the Northwest’s two potential compressed air energy storage sites:

    Columbia Hills Site

    • Location: north of Boardman, Ore., on Washington side of Columbia River
    • Plant type: conventional, which pairs compressed air storage with a natural gas power plant.
    • Power generation capacity: 207 megawatts
    • Energy storage capacity: 231 megawatts
    • Estimated levelized power cost: as low as 6.4 cents per kilowatt-hour
    • Would work well for frequent energy storage
    • Continuous storage for up to 40 days

    Yakima Minerals Site

    • Location: 10 miles north of Selah, Wash.
    • Plant type: hybrid, which pairs geothermal heat with compressed air storage
    • Power generation capacity: 83 megawatts
    • Energy storage capacity: 150 megawatts
    • Estimated levelized power cost: as low as 11.8 cents per kilowatt-hour
    • No greenhouse gas emissions
    • Potential for future expansion

    REFRENCE:  BP McGrail, JE Cabe, CL Davidson, FS Knudsen, DH Bacon, MD Bearden, MA Chamness, JA Horner, SP Reidel, HT Schaef, FA Spane, PD Thorne, “Techno-economic Performance Evaluation of Compressed Air Energy Storage in the Pacific Northwest,” February 2013, http://caes.pnnl.gov/pdf/PNNL-22235.pdf.

  • Ridelust Review: 2013 Infiniti FX37

    2013 Infiniti FX37

    YEAR / MAKE / MODEL: 2013 Infiniti FX37

    POWERTRAIN: 3.2L V6 with 325hp / 267 lb-ft of torque : 7-speed Automatic Transmission w/ Rev Matching

    FUEL ECONOMY: 17 city / 24 hwy / 19 combined

    There’s a pretty good argument out there that a well-designed crossover could in fact be the perfect vehicle. Gone are the rough and tumble truck characteristics from the SUVs of old, and in their place are wonderful cross-stitched interiors, supple rides and engines so smooth you hardly even know they’re running. The new 2013 Infiniti FX37 is one such vehicle, and while it’s good in most respects there are some areas in which it could use some improvement.

    2013 Infiniti FX37

    Under the hood lies Infiniti’s 3.7L V6. It pumps out 325hp and 267 lb-ft of torque, that’s a 22 hp and 5 lb-ft of torque increase over the 2012 FX35 we tested last year. Now you can opt for the 390hp 5.0L V8 if you want to be fancy, but trust me when I say this V6 motivates the FX37 along just fine. Our tester was rear wheel drive only and tipped the scales at 4,209 lbs, so understand that it’s no lightweight. Regardless though, the V6 has more than enough grunt to spin up the back wheels, which was something that I’ve never actually done in a crossover before this thing showed up.

    DSC_1454

    We were also equipped with the optional “Touring Package” a $3,300.00 option. That meant the big 20-inch wheels you see here, quilted leather interior (a really nice touch), and ventilated seats for when you want to cool off that tuckus of yours.

    2013 Infiniti FX37

    Now, the downsides to those 20-inch rims are the Bridgestone Dueler HP 265/50/20 series tires that surround them. Not only did they generate a lot of road noise, but they also accentuated an already stiff suspension.

    2013 Infiniti FX37

    Handling on the FX37 was very good. So good in fact that I actually took a trip into the canyons just so I could play around with this thing. You may not believe it, but a big, rear-wheel drive crossover is actually a hoot to drive at the limit. Responsive steering and ample power help make this happen, however as mentioned, unless your flogging this thing, I think the suspension may be a bit too stiff for most.

    2013 Infiniti FX37

    The interior is one area where the FX37 really shines. Beautiful cross-stitched and nicely bolstered seats provide all day comfort, while a well laid out center stack provides easy access to all your techo-niceties. Options like navigation, audio and vehicle settings (all part of the Premium Package: $4,300.00) can also all be controlled through voice prompts and can be activated via the steering wheel mounted controls.

    2013 Infiniti FX37

    Front seat room is aplenty, however rear legroom is a bit on the compromised side. Another thing of note is that the rear boot storage is actually limited with only 24.8 cubic feet of space with the rear seats folded up. Fold the rear seats down however and space opens up to 62 cubic feet.

    2013 Infiniti FX37

    As equipped, our tester came in at $55,800. A big number for a V6 powered crossover that’s not equipped with AWD. By comparison, the 2012 FX35 Limited with all-wheel-drive that we previously tested came in at just under $53K. Hmm… interesting.

    DSC_1462

    There’s no question that the 2013 Infiniti FX37 would make a great vehicle for small families or individuals that are looking for a sporty and great looking crossover. However due to its limited cargo space and lack of a 3rd-row seat, I fear that it may be a bit small for larger families.

    2013 Infiniti FX37
    *The FX37 comes equipped with a full-surround camera system, something that may sound frivolous, until that is, you use it! Great idea!

    Each case though is obviously different, so with that I would simply say, go down to your dealership and check it out. Its build quality is superb, it’s fun to drive and after my week with it I can safely say that the 2014 Infiniti FX37 would be a complete pleasure to live with as a daily driver.

  • GLM Buys Pier Antiques, Antiques at the Armory Show

    GLM, which is backed by Providence Equity Partners, has acquired the Pier Antiques Show and the Antiques at the Armory Show. Stella Show Management Company was the seller. Financial terms were not announced. White Plains, N.Y.-based GLM produces and markets tradeshows serving the retail industry.

    PRESS RELEASE

    NAPLES, FL, May 20, 2013 – In line with its corporate growth strategy, GLM today announces the acquisition of the Pier Antiques Show and the Antiques at the Armory Show from Stella Show Management Company.  This transaction follows the Miami National Antiques Show acquisition announced earlier this year, and positions GLM’s U.S. Antique Shows as the largest producer of indoor antique shows focused on antique, vintage and estate jewelry and watches.
    “Following the recent addition of the Miami National Antiques Show to our annual events, the acquisition of these established shows in New York further strengthens U.S. Antique Shows’ position as the world’s leading producer of indoor antique shows,” said Dan Darby, GLM vice president and U.S. Antique Shows group show director. “In our unique position, we will bring more than 50,000 consumers together with 2,400 dealers, from 22 countries, who exhibit rare merchandise and signature collections in the key U.S. antique and jewelry markets.”
    The Pier Antiques Show, one of New York City’s largest, trendsetting shows featuring Fashion Alley and Book Alley, is held semi-annually in March and November, and features 500 exhibitors of quality antique furniture, decorative and fine arts, at Pier 94.  The next Pier Antiques Show will be held on November 23-24, 2013.
    Originally launched in 1995, the Antiques at the Armory Show has become a mainstay of Americana Week in New York each January. The Show features 100 select exhibits of fine and affordable American & European antiques, period furniture, Americana, folk art, garden and architectural artifacts, fine art and prints.
    “The Pier Antiques Show and Armory Antique Show are a natural fit for U.S. Antique Shows,” said Andrea Canady, director of business development, U.S. Antique Shows. “Producing these incredibly unique shows will allow us to develop new, more distinct and comprehensive selling opportunities for dealers, including dealers who have exhibited with U.S. Antique Shows for more than 40 years, while broadening the reach for each of these well-established events.”
    For more information and announcements regarding the Pier Antiques Show, visit www.PierAntiqueShow.com.  For updates on the Armory Antique Show visit www.ArmoryAntiqueShow.com.
    About GLM
    GLM brings efficiencies and opportunities to the flow of merchandise – from product development/manufacturer to vendor/brand manager to retailer to consumer – through tradeshows, consumer events and digital platforms. GLM events include NY NOW™, International Contemporary Furniture Fair®, Internet Retailer Conference & Exhibition, National Stationery Show®, Surf Expo, SURTEX® and The Original Miami Beach Antique Show®.  Additional information is available online at www.glmshows.com.

    The post GLM Buys Pier Antiques, Antiques at the Armory Show appeared first on peHUB.

  • With push for data democratization, Intel tries to play both sides of the big data debate

    Intel has been taking steps in recent months to promote the democratization of consumer data — the idea that consumers should be able to check out the information that companies are collecting on them — even though it might not be immediately obvious how the chip maker could generate revenue through the initiatives, according to an article from the MIT Technology Review.

    Intel Labs is engaged in a research partnership with wethedata.org, a “hub of conversation, news, and events celebrating innovative communities who are each focused on democratizing data in their own way.” Intel also has contributed to a hackathon for building tools consumers can use to understand publicly available data, and it’s sponsoring the National Day of Civic Hacking for getting people across the country to come up with ways to analyze open data sets.

    It’s somewhat surprising for Intel to be pushing for data democratization. Intel chips are at the heart of servers THAT companies and government organizations use to crunch heavy loads of consumer data. And Intel also has come out with its own Hadoop distribution for handling big data.

    The sort of rhetoric floating around the Wethedata.org site — “we are the customer, but our data are the product. … How do we regain more control over what happens to our data and what is targeted at us as a result?” — seems more likely to come from a nonprofit or even a government agency than from a collaboration that includes a corporation such as Intel. But that might help explain why the efforts are noteworthy.

    Intel isn’t the only one active on this front. Andreas Weigend, a former chief scientist at Amazon.com, often raises the topic with executives in his consulting work with big companies around the world, partly because some data is simply wrong, and consumers ought not be penalized for it. And as the MIT Technology Review article notes, legislators have taken stabs at the issue, albeit with little success so far.

    Now that Intel is on board, perhaps more tech companies will join in and the prompt the tide to change. And if that happens, interesting questions would arise, such as how exactly companies would roll out more data on its customers, whether companies should give consumers access to algorithms that factor into decision-making and how much visualization software and other tools should be made available.

    Feature image courtesy of Shutterstock user Lasse Kristensen.

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  • Athyrium Opportunities Fund Closes at $507 Mln

    Athyrium Opportunities Fund LP, a private credit fund which invests in healthcare sector, has closed at $507 million. The Fund, which was oversubscribed, is jointly managed by Neuberger Berman and Athyrium Capital Management. Athyrium Opportunities seeks to make $25–$75 million financings in small- to medium-sized healthcare companies in the U.S., Europe and Asia.

    PRESS RELEASE

    NEW YORK, May 20, 2013 – Neuberger Berman Group LLC, one of the world’s leading employee-controlled money managers, and Athyrium Capital Management, an asset management company focused on opportunities in the global healthcare sector, announced the closing of Athyrium Opportunities Fund LP (the “Fund” or “Athyrium Opportunities”), a private credit fund that seeks to invest in a diversified pool of income-generating structured investments in the global healthcare sector. Athyrium Opportunities was oversubscribed, closing at $507 million.
    Athyrium Opportunities seeks to make $25–$75 million financings in small- to medium-sized healthcare companies in the U.S., Europe and Asia. The Fund focuses on partnering with management teams of pharmaceutical, medical device and diagnostics companies with commercial-stage products and services who are looking for long term capital to grow their businesses. The Fund seeks to generate current income and capital gains for its investors and has significant flexibility in structuring its investments – possible transaction structures include loans, notes, royalties or royalty-backed debt, preferred stock, convertible or other structured securities. The Fund has made five investments to date representing over 20% of committed capital.
    The Fund is jointly managed by Neuberger Berman and Athyrium Capital Management. Neuberger Berman’s alternatives business (“NB Alternatives”) and Athyrium Capital Management formed a strategic relationship in 2009 to source, close and manage structured investments in the healthcare sector. Since forming the strategic relationship, the team has completed more than a dozen transactions, including both the Fund’s and its predecessor’s investments.
    The Fund’s senior investment team is comprised of co-head Jeffrey Ferrell, Founder and Managing Partner of Athyrium Capital Management; co-head Samuel Porat, Managing Director at NB Alternatives; and Laurent Hermouet and Richard Pines, Partners at Athyrium Capital Management.
    “Client response to the Athyrium Opportunities Fund has been high and we’re thankful for the trust our investors have placed in us,” said Samuel Porat, co-head of the Fund. “Our aim is to create a diversified portfolio of investments that can generate relatively high current income while also offering a level of downside protection commensurate with fixed income investments.”
    The Fund’s global investor base is comprised of more than 35 institutional investors, including public and private pensions, insurance companies, funds-of-funds, endowments and foundations.
    “Small- and medium-sized companies often have limited access to the capital markets and other sources of financing, and the Athyrium Opportunities Fund offers these companies an attractive alternative for their capital needs while limiting potential equity dilution,” said Jeffrey Ferrell, co-head of the Fund. “Our goal is to customize capital solutions that meet our investment objectives while providing flexible and creative capital solutions to the industry. Our investment team has its roots in the private equity business and this informs how we approach our relationship with portfolio company management.”
    About Athyrium Capital Management
    Athyrium Capital Management, LLC is an SEC-registered asset management company formed in 2008 to focus on investment opportunities in the global healthcare sector. Athyrium invests across all healthcare verticals including biopharma, medical devices and products, and healthcare services and partners with management teams to implement creative financing solutions to companies’ capital needs. The Athyrium team has substantial investment experience in the healthcare sector across a wide range of asset classes, including public equity, private equity, fixed income, royalties, and other structured securities. Athyrium has over $600 million under management as of March 31, 2013. The firm’s investors include public and corporate pension funds, charitable endowments, insurance companies, funds-of-funds, family offices, and university endowments. For more information, please visit www.athyrium.com.
    About Neuberger Berman
    Neuberger Berman is a private, independent, employee-controlled investment manager. It partners with institutions, advisors and individuals throughout the world to customize solutions that address their needs for income, growth and capital preservation. With more than 1,800 professionals focused exclusively on asset management, it offers an investment culture of independent thinking. Founded in 1939, the company provides solutions across equities, fixed income, hedge funds and private equity, and had $216 billion in assets under management as of March 31, 2013. For more information, please visit our website at www.nb.com

    The post Athyrium Opportunities Fund Closes at $507 Mln appeared first on peHUB.

  • Sourcefire unveils new techniques to uncover malware sources

    For even the most security minded individuals and organizations, malware continues to be a serious problem. It is all well and good knowing that your system has become infected and ensuring that you have the tools to perform a clean-up operation, but the key to avoiding future problems is determining the source of infections.

    This is what Sourcefire aims to achieve with its new Network File Trajectory and Device Trajectory techniques. The company points out that in modern work environments the BYOD (Bring Your Own Device) model is becoming increasingly common. It is one thing to protect your own machines, but quite another to secure any device that may connect to a network.

    When infection strikes, the retrospective technologies make it possible to determine the source of the problem as well as tracking the damage that has been caused. Being able to determine the scope of an outbreak enables remedial action to be correctly focused.

    Network File Trajectory allows for malware tracking across an entire network while Device Trajectory is more concerned with determining which machine, device or user is the source of a security breach.

    The new trajectory capabilities can be found in Sourcefire’s latest Advanced Malware Protection range.

    Photo Credit: Andrii Kondiuk/Shutterstock

  • Delivering Affordable Cancer Care in the 21st Century: Workshop Summary

    Final Book Now Available

    Rising health care costs are a central fiscal challenge confronting the United States. National spending on health care currently accounts for 18 percent of gross domestic product (GDP), but is anticipated to increase to 25 percent of GDP by 2037. The Bipartisan Policy Center argues that “this rapid growth in health expenditures creates an unsustainable burden on America’s economy, with far-reaching consequences”. These consequences include crowding out many national priorities, including investments in education, infrastructure, and research; stagnation of employee wages; and decreased international competitiveness.In spite of health care costs that far exceed those of other countries, health outcomes in the United States are not considerably better.

    With the goal of ensuring that patients have access to high-quality, affordable cancer care, the Institute of Medicine’s (IOM’s) National Cancer Policy Forum convened a public workshop, Delivering Affordable Cancer Care in the 21st Century, October 8-9, 2012, in Washington, DC. Delivering Affordable Cancer Care in the 21st Century summarizes the workshop.

    [Read the full report]

    Topics: Health and Medicine

  • Environmental Decisions in the Face of Uncertainty

    Final Book Now Available

    The U.S. Environmental Protection Agency (EPA) is one of several federal agencies responsible for protecting Americans against significant risks to human health and the environment. As part of that mission, EPA estimates the nature, magnitude, and likelihood of risks to human health and the environment; identifies the potential regulatory actions that will mitigate those risks and protect public health1 and the environment; and uses that information to decide on appropriate regulatory action. Uncertainties, both qualitative and quantitative, in the data and analyses on which these decisions are based enter into the process at each step. As a result, the informed identification and use of the uncertainties inherent in the process is an essential feature of environmental decision making.

    EPA requested that the Institute of Medicine (IOM) convene a committee to provide guidance to its decision makers and their partners in states and localities on approaches to managing risk in different contexts when uncertainty is present. It also sought guidance on how information on uncertainty should be presented to help risk managers make sound decisions and to increase transparency in its communications with the public about those decisions. Given that its charge is not limited to human health risk assessment and includes broad questions about managing risks and decision making, in this report the committee examines the analysis of uncertainty in those other areas in addition to human health risks. Environmental Decisions in the Face of Uncertainty explains the statement of task and summarizes the findings of the committee.

    [Read the full report]

    Topics: Environment and Environmental Studies | Policy for Science and Technology

  • This Company 3D Prints Bicycles In Titanium

    3D printing usually evokes images of plastic materials, but the truth is that any number of materials can be used in the rapid prototyping process. SLM, or selective laser melting, is one such method used to essentially 3D print items with metal. Now one bike company is embracing a similar, yet more sophisticated, technology.

    UK-based Charge Bikes recently shared via Vimeo that it’s now using 3D printers to make bikes. The company is printing bikes in titanium using an experimental process that’s currently being used by the aerospace industry. If widely deployed, it could help cut down on the time required to make bikes as it would allow manufacturers to create multiple parts at once.

    Charge TV: Week 11: 3D Titanium Printing from Charge Bikes on Vimeo.

    In the comments, Charge Bikes addressed the cost of the process as well as the weight of 3D printed bikes:

    Yes, it is a more expensive process, as it is in its relative infancy, but it will become more commonplace, we believe.

    How do you figure it will be heavier? Unlike a drawn tube, we haven’t had to weld the disc-brake mount on afterwards (saving weight there), nor have we had to cast a solid shape (the dropout is entirely hollow apart from the disc-brake mount itself). This process lends itself entirely to weight-saving as you precisely control the amount of material used.

    SLM machines and the like are still incredibly expensive so don’t expect hobbyists to be creating metal objects in 3D printers just yet. For now, check out the progress being made in printing bikes in plastic:

    [h/t: 3ders]

  • Yahoo, Tumblr, and the Loyalty Factor

    As Yahoo goes through with its acquisition of Tumblr, CEO Marissa Mayer may have a user rebellion on her hands. The early reaction from the Tumblr community is not encouraging — blogs lit up with memes of crying babies and apocalyptic rants upon the announcement of the news. The uproar was bolstered by stories critical of Yahoo’s earlier acquisitions, and fueled by rumors that Yahoo may introduce advertising to the popular blogging site.

    Amidst this uproar, Mayer can take a page from the book of Albert Hirschman, one of the most original thinkers on political economy of the last century. Against the backdrop of civil strife and war in the late 1960s, Hirschman wrote that when faced with declining institutions, consumers have two choices: Exit and go elsewhere with their support or dollars, or use the power of voice to generate change from within. These two choices are mediated, he explains, by members’ loyalty to the institution. Loyalty makes people more likely to stay and work for change from inside. But loyalty is also a product of how effective a consumer’s voice is likely to be; it does not stem from feeling locked-in or having no possibility of exit.

    Hirschman died last year, but I’d like to think that he was aware of the rise of online communities supported by user-generated content and interaction. That is the core of Tumblr. Perhaps more so than other social media communities, Tumblr relies on giving its members a rich medium to voice their views. In return, it enjoys their fierce loyalty. Yahoo now seems to be trying to buy that loyalty. Some see the proposed deal as an effort to “buy cool.” That’s true too, but the cool will quickly turn tepid without the sustained loyalty of the Tumblr community.

    Still, after the initial shock subsides, can Yahoo count on Tumblr users staying on? That is probably how the investment bankers framed it — as a question of switching costs, lock-in, network externalities, and the like. Where are these users to go? There is no equivalent forum of this type, richness, and network size (at least not yet). It would seem that the 18-24 year-old demographic that Yahoo is pining for does not have an easy exit choice.

    If the new owners indeed think that this community has nowhere to go, they will kill Tumblr, and possibly Yahoo too. As Hirschman explained, in an organization where entry is easy, exit may also be easy. Tumblr grew in part because it was so easy to join, to express oneself, and to be heard. It will be just as easy for its voluntary members to leave, maybe for another forum, but more likely for mobile social media that bypass the web entirely. Try acquiring that, Yahoo.

    That deadly bullet might be dodged if more new (Yahoo) customers join Tumblr than leave, or if the loss itself can be stemmed. The result would be a growth in the customer base of Tumblr, which may be good for Yahoo, if it can find a way to make money from the community. This seems to be the outcome that Yahoo is aiming for when it assures Tumblr users that it would leave the unit under independent management and promises “not to screw it up.”

    But leaving an acquired Tumblr alone is not enough to make Yahoo cool. It just means that Yahoo would be an investor in a cool property. Yahoo might make money on that, just as it has on its profitable joint venture in China, where it has been almost an arm’s length investor (in part by choice, and in part because the Chinese kept it there). Such an acquisition with independent management would not be the silver bullet that is available to Mayer.

    With Tumblr, Mayer should instead see an opportunity that exists to build even greater loyalty by enhancing consumer voice within the platform, instead of just limiting exit. Hirschman urged the embattled governments and companies of the 1960s to listen more closely to their citizens and customers, and then to act to regain lost trust. For Yahoo this would mean to listen more closely to that young demographic, not to seek to own it.

    Instead, Yahoo needs Tumblr as a “reverse mentor.” If that is the goal, one would expect Yahoo not just to say it will not mess with Tumblr, but — more importantly — that it welcomes Tumblr’s guidance to change the rest of its operation. Don’t just leave Tumblr founder David Karp alone — invite him to transform Yahoo itself.

    This silver-bullet strategy may not involve an acquisition of $1.1 billion, or at least not yet. Other companies have learned to listen better by using partnerships that are short of full acquisition. Disney learned from Pixar in that way. In an earlier era of computing, IBM learned the software and service business by cooperating with multiple partners. Roche learned about biotech through its partnership with Genentech. Often these partnerships did end in acquisition; but that bigger step took place after the acquirer had shown itself willing and ready to reform itself dramatically, from the inside. Without that readiness, these marriages would have failed.

    Has Yahoo decided to reform itself and to listen more intently to a new generation of users? Investors hope it has. By itself, the act of buying Tumblr does not demonstrate that Yahoo now has the will to change. But the success of this deal will surely depend on that.

  • Sustainability Matters in the Battle for Talent

    Employees at semiconductor-chip-maker Intel recently devised a new chemistry process that reduced chemical waste by 900,000 gallons, saving $45 million annually. Another team developed a plan to reuse and optimize networking systems in offices, which cut energy costs by $22 million.

    The projects produced financial and environmental benefits, of course. But just as valuable is the company’s ability to energize and empower front-line employees. New data shows that sustainability is an increasingly important factor in attracting and managing talent.

    Bain & Company recently surveyed about 750 employees across industries in Brazil, China, India, Germany, the UK, and the U.S. Roughly two-thirds of respondents said they care more about sustainability now than three years ago, with almost that many saying sustainable business is extremely important to them. Interest peaks among employees age 36 to 40 — a young group but not the youngest.

    Employees expect employers to step up and nurture this growing interest. When asked which group should take the lead on sustainability, more respondents cited employers than they did consumers, employees, governments, or all equally. In the developed world, a small but growing segment of what we call “sustainability enthusiasts” view sustainability as a major factor in job choices and are willing to accept lower compensation to work for an employer that meshes with their beliefs.

    They also want to be involved in developing sustainability strategy. Half of younger employees, about one-fifth of older employees and three-quarters of enthusiasts expect to play a role in how their firms approach the topic. And in a departure from attitudes five or 10 years ago, most employees care more about ensuring that the business operations themselves are sustainable than they do about philanthropic activities, as shown in this chart.

    Sustainability vs. Performance

    Yet many companies are missing the opportunity to fully engage their employees on this issue. Only one-third of survey respondents characterized their own employer as a clear leader that has fully incorporated sustainable practices, with one-fifth saying their companies have few or no efforts.

    Leaders in this area, by contrast, do a few things differently.

    They push employees to put sustainability at the heart of the business. Instead of encouraging people to do their jobs in traditional fashion and perhaps volunteer for philanthropic activities on the side, leading companies make sustainability a core part of the work.

    UK-based Marks & Spencer launched “Plan A” in 2007, aiming to make the company the most sustainable retailer in the world by 2015 and incorporate sustainability attributes, such as sustainable cotton or wood, into every product it sells by 2020 (currently one-third of its products have Plan A attributes).

    Ideas for improvements or for entirely new initiatives bubble up from all corners of the organization. For instance, in 2008 Simon Colbeck, head of technology for clothing, was concerned about the huge volume of garments that end up in landfills every year. He suggested teaming up with the nonprofit Oxfam’s stores across the UK to resell used clothing. Colbeck’s idea got approval from the board and has led to 4 million pieces of clothing being recycled each year, raising £2 million for Oxfam. As a direct result of the plan, called “shwopping“, Marks & Spencer has seen a rise in customer traffic and thus further stickiness to its brand, while also helping the firm to recycle more of its products.

    They hold their employees accountable. Some have even begun to selectively tie compensation to sustainability metrics. Intel links a portion of every employee’s variable compensation to attaining environmental sustainability metrics. Higher-level employees, who have a broader job scope and greater ability to affect Intel’s performance, receive a higher percentage of their overall compensation at risk through bonus programs.

    They equip employees with the right tools and training. Statoil, a Scandinavian energy company, launched a climate and energy program in 2011 that nominates 10 senior executives to take part in a year-long program. Upon completion, these participants are expected to identify and respond to future climate uncertainties within their respective areas of responsibility.

    With top talent in short supply throughout many industries, employee attitudes about sustainable business practices are compelling more companies to take this issue seriously, yielding better business results for those that take action. Articulating a “nobler mission” for a company is a big motivator for employees and a powerful weapon in the war for talent.

  • Countering the Problem of Falsified and Substandard Drugs

    Final Book Now Available

    The adulteration and fraudulent manufacture of medicines is an old problem, vastly aggravated by modern manufacturing and trade. In the last decade, impotent antimicrobial drugs have compromised the treatment of many deadly diseases in poor countries. More recently, negligent production at a Massachusetts compounding pharmacy sickened hundreds of Americans. While the national drugs regulatory authority (hereafter, the regulatory authority) is responsible for the safety of a country’s drug supply, no single country can entirely guarantee this today.

    The once common use of the term counterfeit to describe any drug that is not what it claims to be is at the heart of the argument. In a narrow, legal sense a counterfeit drug is one that infringes on a registered trademark. The lay meaning is much broader, including any drug made with intentional deceit. Some generic drug companies and civil society groups object to calling bad medicines counterfeit, seeing it as the deliberate conflation of public health and intellectual property concerns. Countering the Problem of Falsified and Substandard Drugs accepts the narrow meaning of counterfeit, and, because the nuances of trademark infringement must be dealt with by courts, case by case, the report does not discuss the problem of counterfeit medicines.

    [Read the full report]

    Topics: Health and Medicine