Category: News

  • Rhapsody exec: splashy ads and free streaming promotions don’t work

    How do you convince people that they don’t need to own music anymore? That’s a question that streaming music services have been struggling with for years. Both Spotify and Rdio have been ramping up their ad spending in recent months to attract more subscribers to their respective services — but they’re doing it all wrong, says Rhapsody VP Product and Content Jon Maples.

    Rhapsody has been offering music subscriptions since 2001, much than any of its competitors, and Maples said in a blog post Monday that the company has made many of the same mistakes that he believes Spotify and Rdio are repeating now. One lesson Rhapsody learned the hard way is that ads for a music subscription service should be about the service, not artists or emotional connections:

    “We tried the emotional connection to music with our Droga5-produced bubbles ad early on. The ad featured a woman who dove off a building into a bubble that immersed her into music. She dove into another bubble, and the music changed. Nice idea. Hard to understand in terms of product. Or value proposition. Or pretty much anything outside of diving off high rises, which we neither condone nor recommend.”

    In case you’re curious, here is the Rhapsody ad in question:

    Compare that to this much less artsy Rhapsody ad, which performed much better, according to Maples:

    And here’s one of the ads Spotify is running right now:

    But Maples didn’t just criticize his competitors’ ads. He also voiced some doubts about the benefits of giving away free music to promote subscription services. In particular, he took issue with a promotional campaign run by Rdio, in which the company secured exclusive content to stream for free on Rdio.com. Guesstimating the conversion rate for that promotion, he concluded:

    “Rdio and Rhapsody are in the business of sourcing, identifying and enticing fans who are willing to pay for music. How you go about that is the hard part. My belief is that streaming companies have to sell the value of a music service and the benefits to customers instead of relying on an emotional connection to music, giving songs away or buying exclusive rights to a band’s new release.”

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  • Diet, Exercise Best When Started Together, Shows Study

    Though it is generally well-known that diet and exercise are the most fool-proof ways to stay healthy, many people looking to get healthy will start with either one or the other. Easing into a healthy lifestyle can be easier than jumping in all at once. However, a new study has shown that changing diet and exercise habits at the same time might be more effective than doing each separately.

    Researchers at the Stanford University School of Medicine have published their new findings in the latest issue of the journal Annals of Behavioral Medicine. Their study looked at “inactive” participants who were 45 or older and had “suboptimal” diets. After being divided and coached in different exercise and diet changes for one year, the group that changed both diet and exercise habits at the same time were most likely to meet the U.S. national guidelines for exercise and nutrition.

    “It may be particularly useful to start both at the same time,” said Abby King, lead author of the study and a professor of medicine at Stanford. “If you need to start with one, consider starting with physical activity first.”

    The study also showed that those who changed their diets first did not meet exercise goals as easily, while those who began exercising first were more likely to meet their nutritional goals.

    “These health behaviors aren’t things that we change over a six-week period and then our job is done,” said King. “They’re things that people grapple with their whole lives, so to develop ‘touches’ of advice and support in a cost-efficient way is becoming more and more important.”

  • Google Glass For Consumers Is About A Year Away

    Google Glass is finally shipping out to developers who signed up for the Explorers program at last year’s Google I/O. While they have fun with what could potentially become the next big thing, consumers just have to sit patiently and wait. How long will that wait be though?

    In an interview with BBC Radio 4, Google’s Eric Schmidt said that Google Glass would be “probably a year-ish away” for consumers. Previously, the company said that a consumer version of Google Glass would be available this year and for less than the current price of $1,500.

    So, what does Schmidt’s statement mean? It means that nothing has changed. Google Glass will probably hit consumer markets late this year or early next year. It’s really hard to say because a lot can happen between now and then. Developers may discover errors with the software, hardware and more that Google could not have discovered on its own. Any number of problems could emerge in the coming months that could push the consumer release of Google Glass back.

    That being said, most people seem to have enough confidence in Google to do this right. Google Glass is a huge gamble and the company can’t afford to screw this one up. History is full of revolutionary products that get one little thing wrong thus damning it to an eternity of irrelevancy.

    Besides Glass, Schmidt also touches upon his new book, driverless cars, his North Korea visit and more. You can listen here.

    [h/t: The Verge]

  • Google Talks Keeping “No Results” Pages Out Of Index

    Google’s Matt Cutts takes on an interesting question in today’s Webmaster Help video:

    What is being done to detect and remove results from larger sites when they don’t have unique content that is relevant to a query (e.g. yelp.com results with no reviews, Facebook “business” pages that weren’t actually created by the business)?

    Cutts says he likes the question, but wouldn’t just restrict it to larger sites.

    “In general, we look at the value add, or you know, whether there’s some compelling value add, even at a page level, and we try to write algorithms to reflect that, but it is the case that sometimes you will find pages that get indexed that say, you know, ‘Zero reviews found,’ and so there’s basically no content to actually base your opinion on when you visit that page,” says Cutts.

    He continues, “So even starting back in 2009, I found a blog post that I did – ‘Give Google Feedback on No Results Pages,’ and so if people – it was a complaint even back then – people didn’t like having empty review sites, where you click through and it says there are no reviews for that product. So either do a spam report or show up at the forum or you might even still be able to use the form that I mentioned in that 2009 blog post.”

    He adds, “But basically, we are happy to say, ‘Hey look, if you are even doing search, and there’s no search results on that page, that’s the sort of thing that users get really angry about – they complain about. And so that is the sort of thing that, under our technical guidelines (if you look at our quality guidelines), we do say that we’re willing to prune out those sort of search results.”

    Here is the blog post he references. Here is a link to Google’s Quality Guidelines.

  • Colorize for BlackBerry 10: Add Color Back to Your Black and White Photos

    Colorize is a photo editing app for BlackBerry 10 that turns your photo into black and white picture and you add colors back into the image. A great way to have fun with your mobile photos before sharing them online.

    Using your finger as a paintbrush, swipe colour back into your images. The app uses the standard BlackBerry 10 sharing feature so you can share your completed creations to Twitter, Facebook, WhatsApp, Email, BBM and more.

    The current version processes images in a way that optimised for online chatting and sending pics over text message. Higher resolutions are in the app’s feature pipeline down the road but for now you’re confined to a 640×368 output.

    Click here to buy Colorize for 99 cents for BlackBerry 10.

  • Angry Apple partners call company ‘Poison Apple’

    Angry Apple suppliers call company 'Poison Apple' due to 'hard-to-meet' standards
    Congratulations, Apple: your supply chain partners are now giving you the same anonymous backbiting treatment that PC OEMs have long delivered to Microsoft. Reuters reports that Apple suppliers have started referring to the company as the “Poison Apple” due to its “hard-to-meet high standards and low price expectations.” Unnamed suppliers have also told Reuters that they’ve grown weary of Apple’s “ever-moving deadlines” and said they are now trying to “reduce their reliance on the company.” Given reports that several key Apple products are facing delays because they’re difficult to produce, it’s not surprising that there’s tension between the company and its suppliers, especially amid reports that several suppliers have taken hits to their earnings over the past quarter due to subpar iPhone demand.

  • Renewable Energy Law News – Week of April 15, 2013

    Vermont Representative introduces legislation to make it easier to finance renewable energy projects

    Joined by Vermont renewable energy companies that are putting Vermonters to work and charting a cleaner energy future, Rep. Peter Welch has announced bipartisan, bicameral legislation that will make it easier to finance renewable energy projects in Vermont and throughout the country.

    “MLPs provide the opportunity for increasing capital for renewable energy projects, driving down their cost and helping make projects happen,” says David Blittersdorf, president and CEO of AllEarth Renewables, a solar tracker manufacturer based in Williston, Vt. “It makes common sense to extend this financing option currently available for fossil fuels to renewable energy.”

    At AllEarth Renewables in Williston, Welch outlined his Master Limited Partnership Parity Act, which would allow renewable energy companies to take advantage of a key financing tool used by the energy sector known as master limited partnerships (MLPs). For nearly 30 years, MLPs have driven investment in oil, gas, and coal projects. Under current law, renewable energy projects cannot take advantage of MLPs. Welch’s bill expands the definition of qualified projects to include renewable energy.

    “Expanding MLP financing to renewable energy projects will be a boost for the renewable industry and for a cleaner energy future. If oil, gas, and coal projects can take advantage of this important tool, there is no reason why renewable projects should be excluded. This is a simple, common sense idea that will drive investment in renewable energy projects for years to come,” Welch says.

    An MLP is a business structure that is taxed as a partnership, but whose ownership interests are traded like corporate stock on a market. Whereas profit from publicly traded corporations is taxed at both the corporate level and the shareholder level, income from MLPs is taxed only at the shareholder level because it is treated as a partnership for tax purposes. 

    IRS Defines Start of Construction for the Production Tax Credit

    The Internal Revenue Service explained today what developers must do this year to be considered to have started construction of new renewable energy projects.

    The IRS adopted roughly the same definition for start of construction as under the Treasury cash grant program.

    Wind, geothermal, biomass, landfill gas, incremental hydroelectric and ocean energy projects that are under construction by December 2013 will qualify for 10 years of production tax credits on the electricity output or an investment tax credit upon project completion for 30 percent of the project cost.

    There is no deadline to complete projects that start construction this year.

    The IRS departed from the Treasury cash grant rules in one significant respect.

    There are two ways to show that a project is under construction in time.

    One is by showing that “physical work of a significant nature” commenced at the site or at a factory that is making equipment for the project. Work at the factory counts only if done after the project has placed a binding equipment order with the manufacturer.

    The other is by showing that the developer “incurred” at least 5 percent of the total project cost. Costs are not usually “incurred” merely by spending money; the developer must take delivery or title to services or equipment.

    Many developers gravitated toward the 5 percent test under the Treasury grant program because anyone relying on the physical work test had to show a continuous pattern of construction after work started. There was no similar requirement for the 5 percent test. This let tax equity investors and lenders determine with more certainty at the outset whether a project was under construction in time.

    The IRS said it will require developers relying on the 5 percent test to show “continuous efforts” in the future on a project. Developers relying on the physical work test will have to show “continuous construction.”

    Renewable energy bill passes House, heads to Senate’s rocky ground

    Florida – A bill exempting renewable energy improvements from property tax assessments passed the House Wednesday, but the bigger hurdle may be in passing the Senate.

    HB 277 is the only legislation dealing with renewable energy that is moving in the Legislature.

    The bill would implement a constitutional amendment that passed in 2008 with 61 percent of the vote. The amendment also exempted improvements for wind resistance from property tax assessments.

    Similar legislation implementing a 2008 constitutional amendment passed the House the three previous years but those bills didn’t pass the Senate.

    Rep. Michelle Rehwinkel Vasilinda, D-Tallahassee and HB 277 sponsor, said she doesn’t know why the bill hasn’t passed the Senate but she thinks its prospects are better this year.

    That’s because it doesn’t include exemptions for wind resistance improvements, which could increase the loss of tax revenue for cities and counties.

    “I think it makes common sense,” she said of the bill. “When people want to make some improvements to their home to lower their utility bills and take part in energy conservation and renewable energy decisions, they shouldn’t then have their property values raised for ad valorem taxes.”

    The Senate companion, SB 1064, has passed two committee stops without opposition votes and has one more stop before it reaches the Senate floor.

    Photo credit
     

  • Reddit Apologizes for ‘Dangerous Speculation’ in Wake of Boston Bombings

    Reddit’s General Manager Erik Martin has posted a formal and heartfelt apology on behalf of the site and its many users for the part they played in the spreading of false information in the wake of the Boston Marathon bombings.

    Of course, the most public consequence of the misinformation and false accusation swirling around on reddit in the Boston bombings’ aftermath involved a Brown University student named Sunil Triphathi. Reddit helped fuel speculation that he was identified as suspect #2 in the bombings, allegations that were quickly proven to be false. Of course, by that point much damage had already been done.

    Reddit eventually shut down the r/findbostonbombers subreddit, where much of the misinformation and evidence-less speculation was occurring. They also blocked comment threads in other subreddits, like r/news, that made unfounded speculations about the bombers’ identities.

    “However, though started with noble intentions, some of the activity on reddit fueled online witch hunts and dangerous speculation which spiraled into very negative consequences for innocent parties. The reddit staff and the millions of people on reddit around the world deeply regret that this happened. We have apologized privately to the family of missing college student Sunil Triphathi, as have various users and moderators. We want to take this opportunity to apologize publicly for the pain they have had to endure. We hope that this painful event will be channeled into something positive and the increased awareness will lead to Sunil’s quick and safe return home,” says Martin.

    In reality, reddit’s actions didn’t really become a problem until things started to get personal, and the posting of personal info prompted an online witch hunt.

    “A few years ago, reddit enacted a policy to not allow personal information on the site. This was because “let’s find out who this is” events frequently result in witch hunts, often incorrectly identifying innocent suspects and disrupting or ruining their lives. We hoped that the crowdsourced search for new information would not spark exactly this type of witch hunt. We were wrong. The search for the bombers bore less resemblance to the types of vindictive internet witch hunts our no-personal-information rule was originally written for, but the outcome was no different,” says Martin.

    Still, reddit was a source of information during the attacks and its aftermath. An incredibly useful source at that. During many of the events that unfolded over the course of last week, redditors posting live police radio updates were more accurate and much faster than traditional news outlets.

    But the witch hunts did occur, with scary consequences. And that cannot be denied or overlooked.

    Martin closes with this sentiment, in which he hopes the reddit community can learn from this misstep:

    “After this week, which showed the best and worst of reddit’s potential, we hope that Boston will also be where reddit learns to be sensitive of its own power.”

    And that power will only continue to grow. Martin reports that at the time of suspect #2 Dzhokhar Tsarnaev’s capture, reddit had 272,000 active visitors, nearly a third of which were glued to the main r/news thread of the capture. That’s a lot of eyes.

  • Reports say Twitter has reached multimillion dollar deal with ad-buying company

    The Financial Times is reporting that Twitter has reached an advertising deal “worth hundreds of millions of dollars over a multiyear period” with Starcom MediaVest Group, a large ad-buying firm with clients including Procter & Gamble, Walmart, Microsoft and Coca-Cola.

    Twitter’s deal means the company is officially moving into larger territory when it comes to advertising and turning the social media company into a serious platform for brands to spend their budgets. The report says the deal will give SMG’s clients access to special advertising slots and opportunities with Twitter.

    The company has been improving its different ad products for businesses of all sizes, recently rolling out keyword advertising that allows companies to advertise around particular words that individuals tweet. A research firm recently estimated that Twitter will earn nearly $1 billion in advertising revenue in 2014, likely due to strong growth on mobile, making $528 million this year and $950 million in 2014.

    Social media use around television and broadcast events has provided huge advertising opportunities for Twitter already, with the company forging media partnerships around TV and sports, like the NCAA March Madness tournament.

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  • Sun Capital Closes BTX Group Buy

    Sun Capital Partners said Monday it completed its buy of BTX Group from EQT. Financial terms weren’t announced. Brande, Denmark -based BTX is a Scandinavian wholesaler of branded apparel that targets the mature female demographic.

    PRESS RELEASE

    We are pleased to announce that an affiliate of Sun Capital Partners, Inc. has completed the acquisition of the BTX Group from EQT.

    BTX Group, headquartered in Brande, Denmark, is a leading Scandinavian wholesaler of branded apparel selling to approximately 4,000 retail partners. The Company is positioned in the value-for-money segment targeting the mature female demographic. BTX brands include Brandtex, Jensen Women, Signature, Imitz and Ciso. These brands have built on the long-lasting heritage of the original Brandtex brand, which was established in 1935.

    Sun Capital Partners, Inc. has significant retail and branded retail experience and counts among its affiliated portfolio companies a number of other leading businesses in similar niches and geographies including: Bonmarché, one of the U.K.’s largest women’s only value retailers; Jacques Vert Group Ltd., a U.K. womenswear clothing retailer, and Scotch & Soda, a designer, marketer, wholesaler and retailer of contemporary casual apparel.

    About Sun Capital: Sun Capital Partners is a leading private investment firm focused on leveraged buyouts, equity, debt and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in more than 315 companies worldwide since its inception in 1995, with combined sales in excess of $45 billion. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen.

    The post Sun Capital Closes BTX Group Buy appeared first on peHUB.

  • Cangemi Named CEO of ConvergEx Ltd

    ConvergEx Group has appointed Joseph Cangemi as CEO of the firm’s UK based broker-dealer, ConvergEx Limited. Cangemi will relocate to London where he will be responsible for overseeing and growing ConvergEx’s European operations. He continue as co-head of Electronic Equity Trading and Sales. ConvergEx is backed by GTCR.

    PRESS RELEASE

    ConvergEx Group, a leading provider of global brokerage and trading-related services, today announced that it will appoint Joseph N. Cangemi chief executive officer of the firm’s UK based broker-dealer, ConvergEx Limited, subject to the approval of the Financial Conduct Authority.

    In his new role, Mr. Cangemi will relocate to London where he will be responsible for overseeing and growing ConvergEx’s European operations. He will also continue in his current role as co-head of Electronic Equity Trading and Sales.

    “During his 30 years in the securities business, Joe has played a critical role in helping to shape our industry.  His in-depth knowledge of market structure and the regulatory landscape will be instrumental as he takes on this position,” said Joseph M. Velli, chairman and chief executive officer of ConvergEx Group. “Joe also brings a tremendous amount of executive talent and a client-first focus that will benefit our clients and help grow our franchise across the region.”

    Mr. Cangemi joined ConvergEx Group through the acquisition of Francis P. Maglio & Co., a firm he co-founded in 1983 and grew to become one of the industry’s top direct access floor brokers. In 2006, he was appointed to the Security Traders Association’s (STA) Board of Governors and served as STA treasurer in 2009. In 2010, he served as STA vice chairman and then as STA chairman in 2011. Mr. Cangemi is also a past governor of the New York Stock Exchange.

    He is a frequent speaker at various industry conferences and is a member of the SIFMA Equity Markets and Trading Committee. He is also a member of National Organization of Investment Professionals (NOIP).

    Mr. Cangemi holds a bachelor’s degree in Economics from the University of Rochester.  He was the recipient of the Sons of Italy’s Golden Lion Award in 2000.

     

    # # #

    About ConvergEx Group
    ConvergEx Group is a leading provider of global brokerage and trading-related services for institutional investors and financial intermediaries.  ConvergEx combines client-first service with innovative products, sophisticated strategies and proprietary technology to meet the challenges of increasingly dynamic and fast-paced markets. Headquartered in New York with a presence in 17 key locations worldwide, the company serves more than 3,000 clients accessing over 100 global market centers.

    ConvergEx Group includes ConvergEx Execution Solutions LLC (member NYSE/FINRA/SIPC); LiquidPoint, LLC (member CBOE/SIPC); G-Trade Services LLC (member FINRA/SIPC); Westminster Research Associates LLC (member FINRA/SIPC); ConvergEx Prime Services LLC (member FINRA/SIPC); ConvergEx Solutions LLC, of which ConnEx, Jaywalk and LDB are divisions; and ConvergEx Limited in the UK and Australia. ConvergEx Group, LLC is a subsidiary of ConvergEx Holdings, LLC.  Additional information is available at www.convergex.com.

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  • Altus Capital Makes Three Hires

    Altus Capital Partners has made three hires. Scott Johnson, formerly of Parthenon Capital Partners, is a senior associate at Altus. Mike Barry, a former analyst in the Investment Banking Group of BB&T Capital Markets, joined as a associate. And, Joseph A. Melo was named Altus’ assistant controller in March. Most recently, Melo was part of Morgan Stanley’s private equity administration arm, where he was a Fund Controller in New York City.

    PRESS RELEASE

    Altus Capital Partners, Inc., a private equity investment firm focused on niche middle market manufacturing companies in the U.S., today announced it has hired three new professional staff members.

    Russell J. Greenberg, Co-Founder and Managing Partner, said, “We will continue to invest in resources as we move ahead in investing Altus Capital Partners II and managing our portfolio. These three additions to our staff, at both our Connecticut and Illinois offices, bring additional depth to our investment and support teams.”

    The new hires are:

    Senior Associate Scott Johnson joined Altus Capital this month. He has over five years of combined private equity and M&A experience, and prior to joining Altus Capital worked for Parthenon Capital Partners and Performance Equity Management. At Performance Equity Management, Scott completed direct investments and fund investments across a variety of company sizes and industry sectors. Scott began his career at Deloitte Consulting, where he focused on M&A transactions within Deloitte’s Strategy and Operations practice. Scott is a graduate of Boston University and holds an MBA from The Tuck School of Business at Dartmouth, where he was an Edward Tuck Scholar.
    Associate Mike Barry started his career as an analyst in the Investment Banking Group of BB&T Capital Markets, where he worked on both buy-side and sell-side M&A, leveraged buyout, and equity capital markets transactions across a broad range of industries. He is a graduate of the University of South Carolina’s Moore School of Business with a dual degree in Corporate Finance and International Business through the Sonoco International Business Department. He will work in the firm’s Lincolnshire, IL office.
    Assistant Controller Joseph A. Melo joined Altus Capital in March with over nine years of accounting, reporting, operations and client service experience in the private equity industry. Joseph was most recently at the Morgan Stanley private equity administration arm, where he was a Fund Controller in New York City. He has extensive knowledge of buyout, fund of funds, venture capital and private equity fund accounting and managing all aspects of financial operations. Joseph is a graduate of Berkeley College, where he earned his Bachelor of Business Administration in Accounting.

    About Altus Capital Partners

    Based in Wilton, CT with an office in Lincolnshire, IL, Altus Capital Partners, Inc. invests alongside management in profitable small to medium-sized manufacturing companies based in the U.S. that have proprietary technologies, processes and products. The Altus investment team is led by three partners who, in 17 years of investing together, have acquired 23 platform companies.

    For more information on Altus, please visit www.altuscapitalpartners.com.

    The post Altus Capital Makes Three Hires appeared first on peHUB.

  • Experiencing the Media’s Pro-Am Future in Boston

    Last week began in the Boston area with reenactments of bloody battles fought 238 years ago. I got there at 5 a.m. for one of them, standing with my family near the edge of Lexington Green as dawn broke and then, a little while later, a guy on horseback (presumably supposed to be Paul Revere, although in reality he’d lost his horse by then) rode past us to Buckman Tavern to warn the gathered patriots that the British Army was not far behind.

    It was a surprisingly affecting moment. One got at least a faint sense of how eerie, and terrifying, it must have been for the local farmers and tradesmen waiting in that tavern in the dark. And when the sound of British drums and fifes started wafting up Massachusetts Avenue, it carried real menace. A heavily armed professional force was marching up the road to confront a bunch of amateurs.

    The professional soldiers beat the amateurs in that first skirmish on Lexington Green, but they lost the day. By the time British got to Concord, where they were supposed to locate and capture a stash of military supplies (which had been moved by then anyway), the local minutemen had mustered a force big enough to turn the army back. And as the British retreated back to Charlestown they were harassed all the way by an enemy seemingly lurking in every house and behind every bush.

    The amateurs won the war too, although it took a few years and by then they weren’t all amateurs anymore. There were more of them, and they knew the territory better.

    The U.S. armed forces and government have of course since grown into massive, professional organizations. Then again, Lexington and Concord at least are still governed by town meetings, and the amateur roots of the American Revolution still inform political debate and shape civic life across the country.

    Which brings us (sort of) to the rest of what happened last week. On the afternoon of the battle reenactments, a pair of young men whose place on the amateur-professional continuum has yet to be definitively determined (I’m guessing pretty amateur, but really, who knows) set off deadly homemade bombs near the finish line of the Boston Marathon. I was working at home and distractedly looking at Twitter when I first saw reports of the explosions, well before the news was on TV or radio. It didn’t take long, in fact, for an exasperated line of chatter to develop in my Twitter stream berating CNN and the other cable news networks for not having switched over yet to marathon news.

    My immediate concerns centered around the marathon runner who had spent the previous night at our house. Before long Twitter had pointed me to the Boston Athletic Association site, where I was able to discover that my friend had crossed the finish line just over 10 minutes before the bombs went off, and thus was almost certainly okay (indeed he was). After that I became a mostly passive, if unnervingly close-by, observer of Boston’s — and the American news media’s — strange, scary week.

    Most of the strangeness had to do with the events themselves (bombs go off at marathon, well-liked local kid turns out to be apparent terrorist, major American city shuts down as police hunt him down) but the communications revolution of the recent years meant that we experienced the events in an unfamiliar way, too. The internet, and especially social media, have elevated amateurs, giving all of us the opportunity both to report and spread news ourselves and to consume it in largely unfiltered fashion. This in turn has put pressure both on government authorities and established media to react to what’s going on online, by turns by debunking it and passing it on.

    I’m really not sure what this is going to mean for the relationship between citizens and government. New communication tools and technologies may enable the occasional “Facebook revolution,” but they also allow for government surveillance and monitoring of previously unimaginable scope.

    For the news media, though, economics are dictating what appears to be a permanent shift in the professionals-to-amateurs balance. Lots of businesses are being affected by changes in how they communicate with their customers. But for those in the business of communicating, it’s been especially dramatic — and devastating. Newspaper ad revenues in the U.S. have, after you adjust for inflation, fallen to levels last seen in the mid-1950s. As Nicco Mele and John Wihbey wrote earlier this month:

    At about the time the Berlin Wall fell, there were roughly 56,000 editorial jobs among American newsrooms. That number is now likely below 40,000, according to Pew, and one can imagine it falling further.

    So it’s not just that the amateurs are newly empowered. There are also ever-fewer professionals, with fewer resources at their disposal. Mele and Wihbey described this decline in the context of a proposal for how to keep the number of pros from dropping below 30,000. Let’s hope somebody figures that out — beyond the obvious self-interest involved, I do happen to believe that professional newsgathering has a lot of societal value. But the amateurs aren’t going away, and we pros shouldn’t want them to. We need all the help we can get.

    In the last few days, a lot has been written about the failings of either the professionals or the amateurs in Boston, and both sides have plenty examples to point to. There were lots of media pros repeating nonsense on the air, while on on Twitter amateurs and pros joined forces to disseminate the names of two suspects who were not in fact suspects. There were also plenty of professionals — and amateurs — getting it right. Even in the case of the much-maligned reddit, if Ryan Sholin’s account is to be believed, amateur moderators were furiously trying to stamp out errors and misinformation last week.

    I’m pretty sure Sholin’s account is to be believed, actually. Not because he works at Gannett, a newspaper publisher, but because I’ve been following him on Twitter for a couple of years and have never found him to be a purveyor of nonsense. Which is sort of the way things are headed. We all have to make our own decisions on who or what to trust.

    The difficulty, of course, is that most of us don’t have the experience, the judgment, or, really, the time to make informed, rational assessments of everything we see and read. I think I’m reasonably sophisticated at sorting through the news, and I’m definitely experienced at it, but for a while there Friday morning I got totally sucked in by, although happily didn’t retweet, incorrect reports on Twitter (presumably from scanner chatter) that police had Dzokhar Tsarnaev surrounded in a house in Watertown. It’s almost over, I thought. But it wasn’t. Reading Twitter last Friday was, as Felix Salmon put it, “an exercise in massively multivariate real-time Bayesian analysis.”

    Still, I stuck with Twitter as my primary news filter, and I got better at sifting wheat from chaff as time went by. The array of information — from descriptions of what Pete Williams was saying on NBC to links to the best new articles in the Boston Globe or New York Times to speculations about what was really happening in Watertown as the day wore on to reports from co-workers of loud bangs down the street — was simply greater and delivered in more timely fashion than one could get from any other one source. Yes, some percentage of it was misinformation, but the media were publishing and broadcasting errors long before the social media age. What’s different now is the speed at which error can be disseminated and the fact that anybody can disseminate it. But bad information can also be debunked more quickly, and debunked by anyone.

    Sorting through the noise and getting stories straight should continue to be a way for media professionals to add real value. It may even help their employers stay in business.The professionals won’t be able to do it in a vacuum, though, and they shouldn’t want to. The media have gone pro-am. This brings all sorts of complications with it, but the amateurs can also provide essential reinforcement to the professional media’s dwindling ranks. There are more of them, and they often know the territory better. I’d rather have them on my side than fight against them.

  • Suspects’ Aunt: Threats Received, “Picture Was Staged”

    Now that the days-long nightmare following the Boston Marathon bombings is over, the U.S. is coming to terms with who the bombers were, and what that means for the nation.

    The FBI last wednesday revealed its suspects in the bombings, and the following night police gunned down one of the suspects, Tamerlan Tsarnaev, during a shootout. Tsarnaev’s brother, Dzhokhar, managed to escape and led police on a massive manhunt which ended on Saturday when he was found hiding in a boat parked in the backyard of a Watertown, Massachusetts home.

    Though little is known about why the Tsarnaev’s may have wanted to bomb the crowds watching the Boston Marathon, details about their lives in the U.S. paint a picture of seemingly well-adjusted young men. In particular, Tamerlan was a husband and the father of a 3-year-old daughter.

    Now, with national grief still fanning the flames of outrage, the Tsarnaev’s relatives are beginning to speak out. According to a report from the Toronto Sun, the Tsarnaev’s aunt, Maret Tsarnaev (pictured above), has said she and her relatives are receiving threats. In addition, Maret is of the belief that her nephews have been framed.

    “For me, to be convinced that these two nephews of mine committed these kind of atrocities, cannot be taken lightly,” said Maret. “Convince me.

    “I’m suspicious that this was staged, the picture was staged.”

  • TV Anchor Suspended, Fired For On-Air Profanity

    A news anchor for a Bismarck television station announced he was fired today after making his premiere with a string of obscenities.

    A.J. Clemente was so excited for his first broadcast that he let loose some extreme words right as the show was coming back from a commercial break on Sunday night. His co-worker, Van Tieu, apologized for the outburst during the evening show, and the station issued an apology to viewers saying Clemente had been suspended. However, Clemente tweeted today that he was let go following the incident.

    tv anchor suspended

    Of course, Clemente isn’t the first person to drop an F-bomb on television. News anchors have a lively history of tripping up in front of the cameras, and the great Tom Hanks did it a few months ago on “Good Morning America”.

  • Facebook’s ‘Timeline’ Trademark Trial Delayed

    With no explanation, a U.S. District Judge has delayed the trial that has Facebook on the defensive over its “Timeline” product.

    The case involves Chicago-based Timelines.com, a site that allows users to create interactive “timelines” based on historical events. Back in October of 2011, they sued Facebook for trademark infringement just weeks after Facebook CEO Mark Zuckerberg unveiled the new Timeline profile page at the company’s f8 conference.

    That trial was supposed to have begun this morning, but Bloomberg is reporting that it has been delayed without further explanation.

    According to the report, U.S. District Judge John W. Darrah conferred with lawyers for approximately 90 minutes before declaring a recess, after which he said that the tril would be postponed until either tomorrow afternoon, or if need be, May 7th.

    After Timelines.com sued Facebook for the supposed trademark infringement, Facebook countersued, claiming that the word “timeline” was too generic for federal trademark protections. They argue that Timelines.com has no legal rights to them, and that they should be canceled.

    Facebook moved for dismissal, but Judge Darrah rejected that motion earlier this month. He said that Facebook “failed to demonstrate, as a matter of law, that the marks are generic.” He noted that the word “timeline” may very well have specific meaning to Timelines.com users, and therefore the case should see a trial.

    As of now, that trial will have to wait.

  • Brown Joins Apex Fund Services

    Apex Fund Services has named Elliott Brown to the position of Managing Director – Americas. He will be responsible for overseeing the growth of all of Apex’s offices in North and South America. Elliott was formerly with JP Morgan for 18 years, most recently as the Managing Director responsible for leading the bank’s global hedge fund administration business.

    PRESS RELEASE

    Apex Fund Services (“Apex”), one of the world’s largest independent fund administration companies, announces the appointment of Elliott Brown to the newly created position of Managing Director – Americas. Elliott will have responsibility for overseeing the growth of all of Apex’s offices in North and South America.

    Elliott was formerly with JP Morgan for 18 years, most recently as the Managing Director responsible for leading the bank’s global hedge fund administration business. Prior to that role, Elliott was in Strategy and Business Development and was instrumental in the formation of the Hedge Fund and Private Equity Fund Administration businesses at JPMorgan. Elliott also worked for JPMorgan in Australia in Relationship Management and Operations.

    Elliott is a Chartered Accountant and Fellow of the Securities Institute of Australia.

    Apex America has recently opened its new offices on East 52nd Street in New York and already offers office space to emerging fund managers as part of Apex’s Emerging Manager Incubation Service (EMIS) launched in February 2013.

    Peter Hughes, Group Managing Director, Apex Fund Services, said:

    “Attracting high calibre people such as Elliott demonstrates the growing recognition of Apex and its potential. Elliott’s addition to the senior management team ensures that Apex now has the right resources in place ahead of its next phase of aggressive growth.

    “Apex remains fully intent on continuing to shake up the financial services industry by introducing innovative services that are designed to bring efficiencies to fund managers and transparency to investors.”

    Elliott Brown, Managing Director – Americas, Apex Fund Services, said:

    “It is very exciting to be working with an organization that is totally focused on servicing the needs of alternative funds and private equity managers. Apex has built an extensive suite of products to help asset managers grow their businesses efficiently.

    “Opportunities to join a Company that is gaining momentum at a critical time in the global economy do not come around often and I am delighted to be joining the team at this time of Apex’s development.”

    About Apex Fund Services

    Apex has more than $23 billion under administration, and over 300 employees in 29 offices across 20 countries.
    For more information: www.apexfundservices.com.

    The post Brown Joins Apex Fund Services appeared first on peHUB.

  • Google chairman Eric Schmidt warns of ‘the dark side of the digital revolution’

    Google's Eric Schmidt warns about the dark side of the digital revolution
    Google chairman and former chief executive Eric Schmidt recently embarked on a highly publicized, and criticized, trip to North Korea. The executive’s visit to one of the world’s most unplugged nations left an everlasting impression on him. Schmidt explained in an article published by The Wall Street Journal that it isn’t possible to have a modern society without access to the Internet, noting that every country, except North Korea, has embraced the Internet in some form. The Internet brings freedom; freedom of speech, freedom of information and in some cases, as we have seen with the Arab Spring, revolution. Schmidt warned, however, that there is also a dark side to the digital revolution.

    Continue reading…

  • Carbon Black Gets Investment from Blackstone

    The Blackstone Group has invested in Carbon Black. Financial terms weren’t announced. Sterling, Va.-based Carbon Black, a subsidiary of Kyrus, provides information security technology. Blackstone made the investment in Carbon Black during the fall of 2012.

    PRESS RELEASE

    Carbon Black, a leading provider of information security technology, announced on Monday an investment from Blackstone (NYSE:BX) that has led to the development and launch of “Carbon Black 3.0,” a 9-in-1 software solution that answers, in real time, vital security and business questions.

    Billed as the world’s first ‘surveillance camera’ for computers, “Carbon Black 3.0” collects and retains key pieces of information that security and business professionals can use to better understand the safety and efficiency of their enterprises.

    “Carbon Black will be a strategic infrastructure intelligence solution for Blackstone and our portfolio companies,” said Bill Murphy, Chief Technology Officer of Blackstone. “Knowing what is happening in our infrastructure helps us with security but also informs the overall health of our technology environment. We believe Carbon Black will become a must-have security asset and set the standard for information security solutions.”

    “Carbon Black’s initial success and their innovative approach to providing incident response intelligence made this a very attractive partnership for Blackstone,” said Jay Leek, Blackstone’s Chief Information Security Officer. “We look forward to working with the Carbon Black team as they continue to flourish in the industry.”

    Following Blackstone’s investment in the fall of 2012, Carbon Black began developing “Carbon Black 3.0,” which launched today as a lightweight, scalable solution that provides enterprise-wide visibility and historical traceability. As a result, technology professionals can use “Carbon Black 3.0” to conclusively and precisely answer critical questions when investigating a security breach or any another change to their computing infrastructure.

    “With ‘Carbon Black 3.0,’ answers to these critical questions can be obtained in a matter of seconds, even if the breach occurred months ago,” said Carbon Black CEO, Michael Viscuso. “Previously, questions like these would take hours, even days, to answer; costing companies hundreds of thousands of dollars in extra IR costs unnecessarily. Carbon Black’s answers are helping today’s companies prepare for the inevitable breach and respond with confidence.”

    “Carbon Black 3.0” also functions as a comprehensive 9-in-1 business solution.

    “Carbon Black 3.0” provides organizational leaders with key answers to questions involving:

    Breach Preparation
    Malware Detection
    Incident Response
    Vulnerability Assessment
    Patch Management
    New Application Notification
    File & Registry Integrity Monitoring
    Policy Enforcement
    License Management.
    About Blackstone

    Blackstone is one of the world’s leading investment and advisory firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, the companies we advise and the broader global economy. We do this through the commitment of our extraordinary people and flexible capital. Our alternative asset management businesses include the management of private equity funds, real estate funds, hedge fund solutions, credit-focused funds and closed-end funds. Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Further information is available at www.blackstone.com. Follow us on Twitter @Blackstone.

    About Carbon Black

    Carbon Black was established in 2011 as a subsidiary of Kyrus, a leading computer security services provider. For more information visit carbonblack.com or use the hashtag #CbAnswers on Twitter.

    The post Carbon Black Gets Investment from Blackstone appeared first on peHUB.

  • Dzhokhar Tsarnaev Charged, Faces Possible Death Penalty

    Nineteen-year-old Dzhokhar Tsarnaev has been officially charged with using a weapon of mass destruction in the Boston Marathon bombings on on April 15.

    He has been charged specifically with one count of using and conspiring to use a weapon of mass destruction (an improvised explosive device) against persons and property within the United States resulting in death, and one count of malicious destruction of property by means of an explosive device resulting in death. This is all punishable, upon conviction, by death or life imprisonment.

    Tsarnaev’s initial court appearance took place today from his hospital room, where he has reportedly been communicating by writing, as he is unable to speak due to a gunshot wound to the throat.

    Attorney General Eric Holder said in a statement, “Although our investigation is ongoing, today’s charges bring a successful end to a tragic week for the city of Boston, and for our country. Our thoughts and prayers remain with each of the bombing victims and brave law enforcement professionals who lost their lives or suffered serious injuries as a result of this week’s senseless violence.”

    “Thanks to the valor of state and local police, the dedication of federal law enforcement and intelligence officials, and the vigilance of members of the public, we’ve once again shown that those who target innocent Americans and attempt to terrorize our cities will not escape from justice,” Holder added. ” We will hold those who are responsible for these heinous acts accountable to the fullest extent of the law.”

    John Carlin, Acting Assistant Attorney General for National Security, added, “The events of the past week underscore in stark terms the need for continued vigilance against terrorist threats both at home and abroad. Friday’s arrest and today’s charges demonstrate what can be achieved by a collaborative, round-the clock response involving law enforcement officers, intelligence professionals, prosecutors and the general public.”

    Carmen Ortiz, U.S. Attorney for the District of Massachusetts, said, “Today’s charges are the culmination of extraordinary law enforcement coordination and the tireless efforts of so many, including ordinary citizens who became heroes as they responded to the call for help in the hours and days following the Marathon tragedy. The impact of these crimes has been far-reaching, affecting a worldwide community that is looking for peace and justice. We hope that this prosecution will bring some small measure of comfort both to the public at large and to the victims and their families that justice will be served. While we will not be able to comment on any possible communications between the suspect and law enforcement at this time, as a general rule, the government will always seek to elicit all the actionable intelligence and information we can from terrorist suspects taken into our custody.”

    The case is being prosecuted by Assistant U.S. Attorneys William Weinreb and Aloke Chakravarty from the Anti-Terrorism and National Security Unit of the U.S. Attorney’s Office for the District of Massachusetts. The Counterterrorism Section of the Justice Department’s National Security Division is assisting.

    The Justice Department’s announcement concludes by reminding the public that the charges are “merely allegations” and that Tsarnaev remains innocent until proven guilty.

    The official complaint against Tsarnaev can be viewed here (pdf).