Category: News

  • Condom Slingshot Gun Takes Applying Protection to the Extreme, Looks to Impress Bill Gates

    Recently, the Bill & Melinda Gates foundation posted a $100,000 grant offering to anyone who can help build a better condom. Why do we need a better condom? Well, increasing condom use around the world is key in the fight against sexually transmitted diseases and unwanted pregnancies.

    Gates acknowledges that the condom is the “most ubiquitous” but “potentially underutilized” products on the planet. And condom technology has been pretty stagnant for nearly five decades.

    Who’s going to step up and make a better condom? Or a better condom packaging? Or a better condom delivery system?

    Enter Joerg Sprave of the Slingshot Channel who today brings to you the contest’s first submission. Yes, it’s a condom slingshot. Yes, it technically improves upon the delivery of the condom. But…yikes?

    “Dear Mr. and Mrs. Gates,” says Sprave, “nothing fascinates male human begins more than guns and sex. So when we combine both, you must see the huge potential this has. So come on, pass over the 100 grand.”

    I know it’s not serious, but let me reiterate.

    Yikes.

    [JoergSprave via reddit]

  • eBay Deal of the Week: 1972 Jensen Interceptor FF

    JensenFF_1

    If you’re familiar with the Jensen Interceptor then you know that it was a grand touring hybrid of sorts. A combination of British style and American power, the Interceptor was one of those rare cars that never really saw the success it deserved. This is an unfortunate thing since Jensen was truly on the forefront of automotive development. What you are looking at here is a 1972 Jensen Interceptor FF, the worlds first four-wheel drive, V8 powered super-sedan. These cars were built in very limited numbers, so finding one in pristine condition is almost impossible. The one you are viewing here is currently up for sale on eBay and is reportedly the last one built in the third series of cars done between 1966-1972. Said to have gone through an extensive $160,000 restoration, this may in fact be one of the best remaining left. Click through to view more photos or click the link below to go directly to the auction.

    Source: eBayMotors.com

    Jensen Interceptor FF

    JensenFF_4

    JensenFF_5

    JensenFF_3

    JensenFF_2

  • Leaked pre-release version of Facebook Home available for download

    Facebook Home Leak
    Everyone who just can’t wait to get their hands on Facebook Home can now download a pre-release version of the software that’s apparently “buggy and incomplete.” MoDaCo has got its hands on a pre-release build of Home APKs — “the main Facebook (FB) app (‘katana’), the now-integrated-with-your-SMS Messenger app (orca) and the Home / Launcher ‘shell’ app (home)” — that will run a decent simulation of what the final build will look like once it’s released on April 12th. MoDaCo says that anyone interested in downloading the APKs needs to have a device with “a maximum resolution of 1280 x 768 and the ability to completely uninstall your existing Facebook app” and notes that anyone installing the APKs does so at their own risk. With the Facebook Home release just four days away, it’s hard to imagine too many people bothering with a bug-ridden early version of the software but it’s still interesting nonetheless.

  • Jenna Jameson Arrested on Battery Charges

    Ex-Porn Star Jenna Jameson is back in the headlines, but not for her movies or book.

    According to a Los Angeles Times report, Jameson was arrested this weekend on charges of misdemeanor battery. According to police, Jameson is accused of hitting an unnamed person at a house in Newport Beach, California on Saturday evening.

    The report states that the person Jameson is accused of hitting made a citizen’s arrest on Jameson and called police. A court date has been set for a hearing on the matter and Jameson was released on her own recognizance.

    This is the second arrest in one year for Jameson, who was arrested in May 2012 on D.U.I charges. In that incident, the former porn star drove into a light pole, fueling numerous “pole” jokes on Twitter.

    Jameson began acting in pornographic movies in the early 90s and quickly became one of the most-recognized porn stars in the world. Following her porn career, Jameson went on to found the website ClubJenna, which manages porn star websites. In 2004 she published an autobiography titled How to Make Love Like a Porn Star: A Cautionary Tale, which covers her early career in porn and became a New York Times best-seller.

    (Image via Twitter)

  • More evidence of the existence of Google Babel appears in string of code and pop-up message

    google_babel_appears_in_google_code

    We have been hearing rumors of a new Google unified messaging system called Babel for a couple of weeks now. As you know, Google has a lot of different services for communicating, and a new unified service could be just what the doctor ordered. We have seen some fake screenshots and some that look plausible,  but no real evidence of its existence.

    Well we have two things to show you today, which include a pop-up message as well as a string of code. The above shot is a string of code that contains references to a Babel app that will unsurprisingly include a video player. The below image is a pop-up message that +Patric Dhawaan got when going through his inbox. Now the only question is when will we see this new service? Perhaps at Google I/O or is this a longer term strategy since Google is looking into buying WhatsApp?

    Google_Babel_Pop-up_message

    sources: +PatricDhawaan / +RogaMoore
    via: PhoneArena

    Come comment on this article: More evidence of the existence of Google Babel appears in string of code and pop-up message

  • The Importance of Intangibles in Cloud TCO Analysis

    Ravi Rajagopal, Vice President at CA Technologies, has led and managed organizations that delivered innovative and practical technical and business solutions for corporations and governments around the globe.

    Ravi_Rajagopal-tnRAVI RAJAGOPAL
    CA Technologies

    In my last post, I discussed how the cloud changes the economic value of IT, and revealed a new model to understanding TCO and ROI. That’s the only way an organization today can make rational decisions about IT investments.

    One of the most popular cases for adopting the cloud is that it promotes organizational agility. Once you go cloud, the argument holds, the organization can now do things it never could do before, or can do established things much faster.

    Cloud Expands Horizons

    As an example, I know a company that recently switched from an on-premise call center to cloud-based solution. Among other things, moving to a cloud service now meant they could hire people all over the world, wherever there was an IP connection. Before, employees had to be on-premise at a limited number of locations.

    They gained access to a much larger labor pool. They could offer more flexible hours to employees, and even let them work from home or while traveling. And they opened up to new geographic markets they couldn’t even dream of servicing before. That’s agility.

    If we’re talking about making rational economic decisions about the cloud, how can we account for the transformative impact it can have? This is hard to quantify beforehand, as are many hidden infrastructure costs in IT. Most organizations remain blissfully ignorant about the full impact of these intangible costs.

    Focus on the Intangibles

    That makes it hard to arrive at a good, hard-dollar decision. But if you don’t focus on the intangibles, you won’t have a complete picture of the hard numbers. Once you have a handle on tangibles, start perimeterizing the intangibles. They might not be core to the decision, but you can get a sense of their boundaries.

    And the more data you have, the better the organization will be at making the decisions. That company that moved to a cloud-based call center? Their move to the cloud was initially close to break-even. Their understanding of the intangibles served to reassure them that they were making the right decision, economically and strategically.

    What are Your Outcomes?

    One way to measure the intangibles is to focus on the outcomes rather than on the inputs. You could, for example, start looking at some of the customer statistics, both in absolute numbers and in overall trending. For that to happen, you need a good baseline. You must also work with the same questions and parameters so you can make a valid before-and-after comparison.

    For example, you have the customer stat baseline that’s set before you made the transition. Once you’ve made the transition, you look again at your customer stat parameters. That will tell you whether you’re moving in the right direction, and how you can optimize your execution.

    Above all, it’s essential you understand your legacy environment, both tangible and intangible, so you can make a fully informed decision beforehand. Then, when you make the transition, you’re in a great position to compare.

    The broader discussion here is that there are substantial benefits to being a data-driven organization, which many organizations are not. Most businesses are measuring some things, but few are measuring everything. If you’re not a data-driven organization, taking a holistic approach to cloud TCO analysis is a great way to get started on becoming one—and the best, and perhaps only way, to really measure the cloud for business value.

    Industry Perspectives is a content channel at Data Center Knowledge highlighting thought leadership in the data center arena. See our guidelines and submission process for information on participating. View previously published Industry Perspectives in our Knowledge Library.

  • Google Fiber Probably Getting Ready For Austin Launch

    It looks like Google is getting ready to launch Google Fiber in Austin, Texas. The news was leaked prematurely, as reports came out that Google was readying what was thought to be a launch event.

    The invitations for the event reportedly said:

    On Tuesday, April 9, at 11 a.m., the City of Austin and Google will make a very important announcement that will have a positive impact on Austinites and the future of the city. We anticipate more than 100 community leaders and elected officials to be in attendance to celebrate this announcement. The event invitation is attached for your convenience. Although we cannot share the details of the announcement with you in advance, we know readers will want to learn more, so we encourage you to join us on Tuesday.

    It appears that Google prematurely posted the news on its blog, before taking it down. Engadget reports (via a tipster) that the news section on the Google Fiber “Cities” page was showing “Google Fiber’s Next Stop: Austin, Texas”.

    That is currently not showing up on the page. The latest Google Fiber news at this point is the April Fools’ joke about Google Fiber Poles.

  • Best of the Data Center Blogs for April 8th

    Here’s a roundup of some interesting items we came across this week in our reading of data center industry blogs.

    Are You Asking the Right Questions: Standards – At the Compass Points blog, Chris Crosby looks at the devolution of industry standards: ” Failure to ask for, and receive, objective evidence of a provider’s adherence to the standards that underlie their performance claims places the customer in the position of having to make their decision based more on the sizzle rather than the steak.”

    Meet DSSD, Andy Bechtolsheim’s secret chip startup – An interesting startup profile from Stacey Higginbotham at GigaOm: “For almost three years many of the creators of Sun’s Zettabyte File System have been slaving away in a Menlo Park, Calif. building trying to build a chip that would improve the performance and reliability of flash memory for high performance computing, newer data analytics and networking. Funded by Andy Bechtolsheim, the startup is called DSSD, and a recent hiring campaign plus the release of several patents offers some clues as to what this stealthy startup is about.”

    5 Ways to Fool-Proof Your Data Backup Strategy – At the RagingWire Enterprise blog, Jerry Gilreath shares tips on backup: “In honor of World Backup Day, I’d like to give you five points, of advice. These are by no means complete. They’re just common-sense notes from the perspective of someone that has been in the thick of it.”

    Honey, I Positively Pressurized the Hot Aisle! – Aisle containment is an extremely effective efficiency strategy. But it pays to get the right expertise, as Data Centers Unclouded notes in looking at a project that didn’t: “The end result was a hi tech-looking pod that looked like a duck, walked like a duck…. but it didn’t quack like a duck.”

    Cutting Confusion over Open System Software in the Data Center – At the Schneider Electric blog, Damien Wells looks at the various meanings of open: “With the use of data center management software and DCIM on the rise, the requirement for applications to be Open System is increasing. However, there has been some confusion in the use of terminology, especially between Open System Software and Open Source Software which has also confused the specific benefits that each type presents for the end user.”

  • It’s Not Women Who Should Lean In; It’s Men Who Should Step Back

    Men should read Lean Inso said friend and fellow HBR writer Nilofer Merchant. Three compelling reasons later, I had myself a copy of the book. While it might have been written as a treatise of what women could be doing to more of to gain more leadership positions in our organizations, and how we would all benefit from that happening, there was something else that stood out for me: it read as a pretty comprehensive list of things that the men have been doing wrong.

    More concerning still — it spent a lot of time encouraging women to copy us.

    There are two broad areas where the book offers advice. The first is how to get ahead in the workplace. Here, Lean In almost always prefaces its advice by first identifying areas where, relative to their male counterparts, women are (for want of a better term) “under-performing.” They aren’t as confident. They aren’t as ambitious. Men are more comfortable taking credit for their achievements, and there’s less cost to them individually when they do so. And so on. The assertions are often backed up with a big body of research.

    The problem comes not in identifying that there are differences between the sexes. The problem is that too often, the book simply asserts or assumes that in there being this difference, women have been doing something wrong.

    Let me give you an example: the relative difference in confidence between the sexes. In exploring this phenomenon, the book cites a research study of students in a surgery rotation; the study found that when asked to evaluate themselves, the female students gave themselves lower scores than the male students, despite faculty evaluations that later showed the women actually outperformed the men. Passed through the lens of Lean In‘s judgment, the ones at fault here are the women, for not being confident enough in themselves. The recommendation that comes later in the chapter: women should “fake it until they make it.”

    But is this really good advice?

    While Lean In might see the scenario as women lacking the confidence of men, there is a pretty glaring alternative hypothesis: it wasn’t the women who were lacking confidence — but it was the men who were too confident. It’s not that much of a stretch to suggest that the men who were more confident in their ability were the ones less likely to do the hard yards in preparation before the surgery rotation. The end result? They didn’t perform as well.

    And that’s the problem that runs throughout the book. Despite spending so much time citing research about the benefits of having women in leadership positions, a lot of its recommendations focus on, to put it bluntly, making women more like men, without proper consideration of whether that would actually be a good thing. As I read, I wondered: why is it the women who should be copying the men? Why can’t it be the men who could be well served by taking a page out of an entirely different book: that of the very women Lean In is advising to change? What it is about women that men could emulate to make our workplaces, our families, and our society in general a better place?

    And it’s not just behaviors in the workplace that Lean In takes this approach — it’s in career management, too. “Women are not less ambitious than men, they insist, but more enlightened with different and more meaningful goals. I do not dismiss or dispute this argument,” writes Sandberg. “There is far more to life than climbing a career ladder, including raising children, seeking personal fulfillment, contributing to society, and improving the lives of others.” And yet, having delivered that paragraph, the book then marches straight past it as if it never happened. In doing so, it takes one of the most important conversations we can have — that about building a career in the context of a life — and, for better or for worse, tips it upside down into a discussion about building a life in the context of a career.

    You don’t have to look very far to find evidence that thinking about life like this can come with serious costs. Clay Christensen, in the HBR article that was the prelude to the book that he, Karen Dillon and I worked on, talked about making it back to his HBS school reunions only to witness an ever-increasing number of his classmates unhappy from thinking about their careers in this way. And it’s far from just high-flying MBAs and executives that suffer from this problem: Bonnie Ware, who for many years worked in palliative care, articulately speaks to the same issue. She asked her patients about their regrets as they neared the end of their lives. Five themes emerged; I encourage you to go and read them. I want to quote just one: “‘I wish I didn’t work so hard.’ This came from every male patient that I nursed. They missed their children’s youth and their partner’s companionship. Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence.”

    The advice that Sandberg dispenses comes with serious costs. Those costs have traditionally been borne by men. But the book never considers that, rather than women not leaning in enough, that it actually might be men who have been leaning in too much. “Women rarely make one big decision to leave the workforce. Instead, they make a lot of small decisions along the way, making accommodations and sacrifices that they believe will be required to have a family.” “When asked to choose between marriage and career, female college students are twice as likely to choose marriage as their male classmates.” The book takes the research, applies its judgment to it, and implores women to change their point of view — because the men have it right. I’m not so sure, and nothing in Lean In convinced me otherwise.

    Early on in the book, Sandberg quotes Judith Rodin, president of the Rockefeller Foundation and one of the first woman to serve as president of an Ivy League university: “My generation fought so hard to give all of you choices. We believe in choices. But choosing to leave the workforce was not the choice we thought so many of you would make.” “So what happened?” asks Sandberg, before listing a number of reasons why it’s still incredibly tough for women to make it to the top. I don’t dispute any of them. But I want to posit that there’s another reason why so many women have chosen alternative paths, and it’s not because it’s difficult: it’s because that in terms of what generates sustained long term happiness in our lives, careers are a long way from the be all and end all, and women have simply done a better job of recognizing it.

    If men have taken the C-suite hostage, then Lean In presents with underlying symptoms of Stockholm syndrome. 50/50 is a worthy goal — both getting women in leadership, and getting men at home — but it’s not just important that it happens, but how it happens, too. That’s what I wish Sandberg had pushed for: not for more leaning in, but more pushing back from the current model.

  • Michael Arrington: Abuse Claims ‘Completely Untrue’

    TechCrunch founder Michael Arrington has finally responded to recent accusations from a former girlfriend and former friends and acquaintances he was physically abusive on numerous occasions.

    Last week, former girlfriend Jenn Allen made the claims on her Facebook page, alleging the Arrington physically and emotionally abused her and even threatened to kill her if she told anyone. She later left additional comment on a Gawker article, reiterating the allegations and also accusing Arrington of rape.

    Later, one of Arrington’s former friends and tech entrepreneur Jason Calacanis came out and said that he’d heard of these sorts of stories for a while. Other people from Arrington’s life surfaced, one claiming that it was the “worst kept rumor in the valley for years,” and that the abuse extended to multiple women.

    Now, Arrington has posted a brief response to the accusations. In it, he calls the allegations “completely untrue,” and says that he has instructed his lawyers to contact the proper authorities.

    Here’s the full response:

    There have been some extremely serious and criminal allegations against me over the last week. All of the allegations are completely untrue, and I’ve hired a law firm to represent me in the legal actions against the offending parties.

    I know this isn’t, for now, much information. I will have a full and complete response to these allegations sometime later this week. My goal will be to direct as much sunlight as possible on the issues so that the absolute truth can be known and I can begin to put my life back together.

    I’ve also asked my attorneys to contact appropriate law enforcement agencies about these false allegations. Given the gravity of the claims, I think it’s important that the police be involved in this now.

  • Water Street Backs CCBR-SYNARC

    Water Street Healthcare Partners has put an undisclosed amount into outsourced clinical services company CCBR- SYNARC. The deal is the first from Water Street Healthcare Partners III, L.P., which it closed last year with $750 million.

    PRESS RELEASE

    Water Street Healthcare Partners, a strategic private equity firm focused exclusively on the health care industry, announced today that it has invested in CCBR- SYNARC. Comprised of two businesses that specialize in outsourced clinical services, CCBR- SYNARC expands Water Street’s global presence in the pharmaceutical services sector. It also marks the health care firm’s first investment from its new fund, Water Street Healthcare Partners III, L.P., which it closed last year after receiving $750 million of investor commitments in less than eight weeks.
    CCBR-SYNARC is a highly specialized provider of clinical services to the world’s largest pharmaceutical and biotechnology companies. The company’s SYNARC business, based in Newark, Calif., specializes in imaging services, consultation and analysis to track progress throughout a clinical trial’s life cycle. Its CCBR business, headquartered in Copenhagen, Denmark, recruits patients from all over the world, and conducts and manages clinical trials in its dedicated clinical centers. Together, the businesses employ more than 500 doctors, nurses and technicians who are located in 29 research centers across Asia, Europe and The Americas. They currently focus their expertise in the musculoskeletal, cardiovascular and neurological therapies.
    “Water Street’s team has consistently demonstrated to us a deep understanding of our businesses since it first approached us about potential ways to work together several years ago,” said Dr. Claus Christiansen, founder and chairman, CCBR-SYNARC. “When we reached a point in our development in which we were ready to expand our capabilities and services, we knew Water Street was our ideal partner. Its experience in the pharmaceutical sector, business development expertise and extensive industry relationships will provide our businesses with the intellectual capital and resources to achieve long-term growth and success.
    The outsourced clinical development market is projected to grow as much as 5 to 10 percent per year over the next five years. With new regulations and global protocols leading to more complex drug development processes, pharmaceutical companies are increasingly turning to specialized providers such as CCBR-SYNARC to support them with particular aspects of their clinical trials.
    — more —
    2
    CCBR’s ability to recruit large patient populations from diverse markets and SYNARC’s high quality imaging capabilities have fueled the company’s growth since its founding in 1998.
    “Recruiting patients to participate in clinical trials can be a significant pain point for pharmaceutical companies and can cause costly delays in their drug development processes,” said Al Heller, an operating partner with Water Street who has more than 30 years of pharmaceutical experience. “CCBR-SYNARC stands out for its proven ability to both quickly recruit patients from targeted geographies and efficiently analyze images to support customers while increasing their clinical trial success rates.”
    CCBR-SYNARC expands Water Street’s group of companies specializing in health care products and services to 12. The firm is also an investor in AAIPharma Services Corp., a provider of pharmaceutical product development services. It sold its oral health pharmaceutical company, OraPharma, to Valeant Pharmaceuticals International, Inc. last year. Since its founding in 2005, Water Street has completed 39 transactions to create and grow a diverse group of market-leading health care companies.

    “We are pleased to build Water Street’s presence in the pharmaceutical sector with our investment in CCBR-SYNARC. The company is highly regarded as a partner that delivers results through its unique combination of scientific acumen, local market knowledge and proprietary technology,” said Peter Strothman, partner, Water Street. “We look forward to working closely with Dr. Christiansen to strategically expand both businesses’ unique capabilities.”
    Water Street has activated its newest fund, Fund III, with its investment in CCBR-SYNARC. The firm is seeking new opportunities to partner with corporations interested in divesting non-core health care businesses, and middle-market companies wanting to accelerate growth. Water Street targets investments ranging from $50 to $500 million in four health care sectors: distribution, medical products, health care services, and pharmaceutical products and services.

    About Water Street
    Water Street is a strategic private equity firm focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world’s leading health care companies on its investments including Gentiva, Johnson & Johnson, Medtronic and Orthofix. Water Street’s team is comprised of industry executives and private equity professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago.

    The post Water Street Backs CCBR-SYNARC appeared first on peHUB.

  • AIQ Closes On $5M

    AIQ Inc. has raised $5 million in new capital, designed to expand the company’s online directory of financial advisors and publisher of syndicated personal finance content and advisor rankings. The Series A equity investors include Penton Media Inc.; Rory Curran, founder and former CEO of UK-based financial advisor software company 1st Software; and Peter Wilson-Smith, a founder of Financial News and efinancialnews.com.

    PRESS RELEASE

    AIQ, Inc. today announced that it has closed a $5 million private capital raise. The financing is designed to provide growth capital to further expand AdviceIQ, a groundbreaking online directory of trusted financial advisors and publisher of syndicated personal finance content and advisor rankings.

    “Our newly closed equity funding permits us to expand upon current investments in sales and marketing, technology enhancements and other aspects of our business,” stated Nicholas W. Stuller, co-founder & CEO of AIQ, Inc. “Deploying this capital to extend the AdviceIQ platform represents a material business opportunity to all of our investors and will ensure we maintain our first-to-market advantage.”

    Currently, over 2,400 financial advisors have passed the unique due diligence that is required in order to participate in AdviceIQ. Each has been certified to have passed the strictest industry regulatory due diligence, ensuring the directory is comprised of only fully vetted financial advisors. Designed to provide consumers with rich personal finance content, AdviceIQ also employs geo-targeting technology so investors can locate financial advisors in their neighborhood who are well matched to each investor’s special needs.

    In addition to profiles, AdviceIQ publishes advisor-contributed articles on wealth management, investing and the advisor/consumer relationship, advisor rankings and original personal finance articles under the direction of Editor-in-Chief Larry Light, formerly Deputy Editor of Personal Finance for The Wall Street Journal. AdviceIQ also syndicates content through media partners. Current partners include Morningstar, The Online Investor, Minyanville, The Motley Fool, National Real Estate Investor, Retail Traffic and Business Insider.

    “Our singular mission is to help individual investors access fully-vetted, trustworthy advisors who can help them take charge of their wealth and financial planning,” says co-founder and CFO Gary Liberman. “Our research and due diligence process reduces consumer exposure to advisors who have violated securities law. With AdviceIQ as a point of validation, listed advisors are effectively positioned to distinguish and locally promote their brands, reinforce client relationships and reach new prospects. We are excited to show investors the virtues, quality and worthiness of the retail financial professional,” Mr. Liberman concluded.

    A growing number of broker-dealers and other advisor platform firms have subscribed to AdviceIQ to vet and showcase their advisors. Participating firms include American Portfolios Financial Services, Money Concepts Capital Corp., Securities Service Network, and well known Registered Investment Adviser firms including Evensky & Katz, Xpyria Investment Advisors and Financial Security Advisory, Inc. The Financial Planning Association has also entered into an agreement with AIQ, Inc. so that its members can avail themselves of AdviceIQ at advantageous subscription rates.

    The Series A equity investors include new and existing investors such as Penton Media, Inc. publisher of WealthManagement.com, Trusts & Estates, and many leading business websites; Rory Curran, founder and former CEO of UK-based financial advisor software company, 1st Software; and Peter Wilson-Smith, a founder of Financial News and efinancialnews.com, now owned by Dow Jones; among other leading senior executives in the financial services, media, and technology industries.

    About AIQ, Inc.:

    AIQ, Inc. publishes the popular Meridian-IQ suite of Financial Advisor directories, licensed by over 500 major fund companies, broker-dealers and insurance companies for industry research and marketing purposes. AIQ is led by a veteran Wall Street team who are subject matter experts on retail financial advisors and investing. Its consumer-facing product, www.AdviceIQ.com, combines daily personal financial journalism with listings and rankings of pre-vetted Advisors that are certified to have passed AdviceIQ’s proprietary Regulatory Compliance Review (RCR(TM)), the strictest industry regulatory due diligence.

    RCR(TM) attests to the quality of an advisor’s compliance history. This due diligence encompasses the entire disciplinary and complaint history of all four major U.S. regulators: Financial Industry Regulatory Authority (FINRA), Securities and Exchange Commission (SEC), State regulators who license Investment Advisor Representatives and State Insurance Commissioners. Investment firms pay an annual subscription fee to have each financial advisor undergo the RCR(TM) screening. Only advisors who successfully pass the vetting process may have their profiles posted on www.adviceiq.com. RCR(TM) prevents advisors with serious infractions from appearing in the published listings and rankings. It also excludes advisors censured by one regulator, who then move to another financial services industry and would otherwise escape scrutiny. AdviceIQ provides investors with access to trustworthy advisors who can help them take charge of their wealth and financial planning.

    The post AIQ Closes On $5M appeared first on peHUB.

  • HTC posts worst-ever earnings in Q1 as profit plummets 98%

    HTC Earnings Q1 2013
    Struggling smartphone vendor HTC (2498) on Monday said that expects to report its lowest quarterly profit on record for the first quarter of 2013 as the full impact of the delayed HTC One launch finally takes shape. The Taiwan-based vendor reported unaudited earnings for Q1 2013, during which net profit totalled just $2.8 million, down a shocking 98% year-over-year, on $1.4 billion in sales. HTC pointed to the delayed release of its flagship HTC One smartphone as the cause of its catastrophic quarter. The company stated earlier that it had trouble sourcing certain components for the phone, resulting in delays. The One will now launch later this month and go head-to-head with Samsung’s (005930) Galaxy S4, sales of which are expected to total 20 million units during the phone’s first two months of availability.

  • Reuters – MISC Bhd Says Petronas Offer Not Fair

    Malaysian shipping group MISC Bhd said a revised $3 billion offer from shareholder Petronas to buy out all remaining stock was not fair, because it was lower than the combined valuation of its different divisions, Reuters wrote. State oil company Petroliam Nasional Bhd, which already owns nearly 63 percent of MISC, on Friday raised its offer to 5.50 ringgit per share from 5.20 ringgit after the Employees Provident Fund, MISC’s other major shareholder with nearly 10 percent, said the original bid was unattractive.

    (Reuters) – Malaysian shipping group MISC Bhd said a revised $3 billion offer from shareholder Petronas to buy out all remaining stock was not fair, because it was lower than the combined valuation of its different divisions.

    State oil company Petroliam Nasional Bhd, which already owns nearly 63 percent of MISC, on Friday raised its offer to 5.50 ringgit per share from 5.20 ringgit after the Employees Provident Fund, MISC’s other major shareholder with nearly 10 percent, said the original bid was unattractive.

    “The revised offer price is not fair as the indicative sum-of-parts valuation of the MISC group is above the revised offer price,” MISC said in a local stock exchange filing on Monday, basing its opinion on recommendations by independent adviser AmInvestment Bank.

    Nevertheless, MISC said it agreed with AmInvestment Bank’s recommendation to shareholders to accept the revised offer, which it said was reasonable in view of the risks and challenges the company faces going forward.

    AmInvestment said the shipping business is facing acute overcapacity, low demand and depressed charter rates. High bunker fuel prices will also continue to put downward pressure on MISC’s profitability.

    Its shares ended the day 1.10 percent lower at 5.40 ringgit per share, while the benchmark stock index fell 0.04 percent. (Reporting By Yantoultra Ngui; editing by Jane Baird)

    The post Reuters – MISC Bhd Says Petronas Offer Not Fair appeared first on peHUB.

  • What next for The Week? The content curator’s plans for the digital domain

    When The Week launched in 2001, the Wall Street Journal asked if its owner was “mad” to take on famous weeklies like Time and Newsweek. Over a decade later, those publications are on the ropes, while the The Week has defied the odds to become profitable both online and in print.

    In a recent interview, CEO Steven Kotok explained how The Week has bucked the fate of the troubled magazine industry, and how the publication plans to stay relevant in the future.

    An American Aggregator

    The idea of a “weekly” news magazine seems quaint in the age of the internet, but The Week has carved out a niche by distilling current events into a smart bundle of excerpts and opinions. It aspires to provide tight writing and snappy headlines that let readers feel in-the-know about news, culture and policy.

    According to Kotok, this style of curation was considered a “weird thing” when The Week launched and the site had to persuade advertisers it was viable. Now, nearly publication does it one form or another  – a situation that would seem to erode The Week’s strategic advantage. But Kotok says the publication is still growing its subscription base by catering to a distinct “psychographic” (read: affluent, educated folks) and by promoting a left-right political discourse.

    “Kids buy it for their parents and vice versa. You might buy it for your conservative uncle or your liberal nice – it’s a way to get the other side in.”The Week Cover

    The pitch appears to be working. The company says it has a rate base of 550,000 readers and annual revenues of about $50 million. It says it has had annual profits of between $4 million and $5 million in each of the last three years.

    Most of that profit is coming from home subscription sales (fewer than 1% of its readers come by way of a newsstand) but, increasingly, The Week is looking to the web to make money.

    Building the digital domain

    With a few exceptions, like the Atlantic, legacy print titles have fared badly online – slow starting and caught between two worlds, they lose to digital natives.

    In the case of The Week, Kotok admits it was late to develop a web strategy, but says its site is now profitable. Citing February comScore numbers of 2.3 million unique visitors, he says The Week has surpassed the Economist in two of the last three months.

    The Week’s website doesn’t reproduce the magazine’s content but instead offers a stream of smart, snackable news bites along with “Guilty Clicks” from around the web (“Do we really need a drone hoodie”, Ke$ha, etc). The online fare is produced by a separate group of writers that represent about half of The Week‘s 29-person editorial team.

    The site earns its keep by selling advertising to major companies like IBM, Xerox and Zurich Insurance but also serves as a vehicle to heavily promote its print cousin. Kotok credits the site with bringing in $1 million a year worth of magazine subscriptions.

    On the tablet front, Kotok says iPad advertising and subscriptions (access is free for print subscribers) are producing almost $1 million in sales but that the Apple relationship is difficult. “It’s hard because we’re used to having a reader relationship but Apple controls that. Sometimes they promote you and sometimes they don’t.”

    The future: commerce not a tin cup

    Having discovered that readers are not put off by price increases — The Week‘s average annual price has risen from $30 to $50 in the last six years — Kotok says he is now focused on revenue rather than subscriber growth. Gift subscriptions, which are a big part of The Week’s business, will be an ongoing source of income but, in the long run, the company still confronts a magazine business that is in wide and permanent decline.

    The Week also faces a more immediate challenge in the Post Office’s plan to end delivery on Saturday (the day the magazine arrives in readers’ mailboxes). Kotok says he can meet the Saturday challenge by shifting production schedules, but that the publication is also focusing on developing other revenue streams – a tactic that is becoming necessary to media outlets of all kinds.

    For now, he says, that will not include a paywall or donations experiment of the sort being conducted by Andrew Sullivan. Instead, The Week is betting on ecommerce to compliment its editorial strategy. “We won’t put out a tin cup. Many of our subscriptions are gifts so our ecommerce will be too,” Kotok says, suggesting that The Week fans will buy each other t-shirts, books and more.

    The Week’s ecommerce experiment will be helped by its 2011 acquisition of Mental Floss magazine, which has an online store that brings in 30% of its $10 million. Items for sale include smart people t-shirts (“Pi Hard,” “Spell Czech”) and quiz books. In its push into retail, the company will be joining the likes of Gawker Media and Thrillist, which are likewise trying to leverage content into ecommerce.

    paidContent Live: April 17, 2013, New York City. Register Now

    Related research and analysis from GigaOM Pro:
    Subscriber content. Sign up for a free trial.

        

  • DeepFlex Seals PE Investment

    DeepFlex, a manufacturer of unbonded composite flexible pipe used in subsea oil and gas production environments, has sealed investments from Brazilian PE firms Mare Investimentos and Mantiq Investimentos. The company also inked funds from existing investors AEM Capital and Promon International of Brazil and Energy Ventures, Klaveness Marine, and Mobelmagasinet Tvedt of Norway. Details of the investment round were not disclosed.

    PRESS RELEASE
    DeepFlex, the world’s only manufacturer of premium unbonded composite flexible pipe used in challenging subsea oil and gas production environments, announced today that it has entered into a significant funding agreement with funds co-managed by two of Brazil’s leading private equity firms, Mare Investimentos and Mantiq Investimentos. Additional funding is also being provided by existing investors AEM Capital and Promon International of Brazil and Energy Ventures, Klaveness Marine, and Mobelmagasinet Tvedt of Norway.

    The combined equity investment from both new and existing investors will support DeepFlex´s strategic development plan to establish a manufacturing center in Brazil, where the Company recently opened an office staffed by experienced business development and technical personnel. The Brazilian market represents over 65% of the worldwide demand for unbonded flexible pipe used in offshore production and this expansion plan will allow DeepFlex to serve this key market as well as satisfy local content objectives. The use of proceeds will also fund an expansion of the Company’s U.S. manufacturing capability to support existing backlog and an expanding order book.

    Mike Kearney, President and CEO of DeepFlex, said: “As DeepFlex continues to build momentum in the flexible pipe marketplace, we are pleased to secure the funding necessary to expand the Company’s global market reach, in particular, serving the world’s single largest market. The capital transaction we are announcing today will transform DeepFlex into a company with substantial flexible pipe manufacturing capacity and engineering capabilities to serve all major offshore production markets. We appreciate the commitment of our employees, the ongoing support of our current investors and welcome Mare and Mantiq to the DeepFlex team.”

    About DeepFlex:
    With offices in the United States and Brazil, DeepFlex designs and manufactures premium composite flexible pipe for use in the subsea oil and gas production environment. As the world’s only manufacturer of unbonded composite flexible pipe for deepwater applications, the patented DeepFlex products are lighter, less costly to install, and do not suffer the corrosive effects of harsh environment service. In addition, the DeepFlex technical staff assists customers with the design of their subsea production configurations. DeepFlex was established in 2004 and is growing rapidly to meet the needs of oil and gas companies working in the world’s major offshore producing regions. Additional information on the Company can be found at www.deepflex.com.

    About Mare Investimentos:
    Mare Investimentos is a private equity fund manager founded in 2009 by executives with significant experience in oil and gas, natural resources and financial companies, focused on investing in the supply chain of goods and services for the oil and gas business.

    About Mantiq Investimentos:
    Mantiq Investimentos, a subsidiary of Banco Santander Brasil, is a private equity fund manager focused on infrastructure and oil and gas services, with USD 1.2 billion in assets under management. Mantiq is backed by some of the largest Brazilian institutional investors and its portfolio includes investments in renewable power generation, water, sewage, environmental services, and toll roads. Notably, Mantiq manages a large equity stake in Renova Energia, the largest wind power company in Brazil.

    About The Funds:
    Mantiq and Mare co-manage the funds Brasil Petroleo 1 & 2, with aggregated capital commitments of USD 370 million. Its investors are large Brazilian institutions, primarily pension funds, and high net worth individuals. DeepFlex is the first investment of the Brasil Petroleo funds.

    The post DeepFlex Seals PE Investment appeared first on peHUB.

  • Fusion-io Unveils High-Capacity ioFX for Workstations

    fusion-iofx-flat

    Heading into the National Association of Broadcasters (NAB) 2013 trade show this week, Fusion-io (FIO) announced that the ioFX workstation acceleration platform is now available with 1.6 TB of capacity, in addition to the original 420 GB form factor. The high capacity ioFX is ideal for video editing and computer assisted design (CAD),

    “Digital production is undergoing a resolution revolution as production moves to 4K and beyond, while production budgets and deadlines continue to tighten,” said Vincent Brisebois, Fusion-io Director of Visual Computing.  ”To overcome these opposing forces, the Fusion ioFX can help digital artists efficiently deliver creative work faster, even when faced with the most demanding production requirements. Fusion-io is proud to collaborate with industry leading software developers and hardware companies to deliver breakthrough acceleration for the tools used by professional artists worldwide.”

    Targeted at artists who compose, edit, playback and finish digital content, the ioFX is also ideal for encoding, transcoding, particle simulations and working with large amounts of cached data. The 1.6 TB ioFX connects via PCI Express, and significantly improves workstation application performance.  Fusion-io has worked closely with the industry’s leading entertainment hardware and software providers to optimize the ioFX for visual effects production.

    “NVIDIA GPUs provide powerful performance to professional workstations, which is further boosted with the ioFX high speed memory platform,” said Greg Estes, industry executive, media and entertainment, NVIDIA. “ioFX dramatically increases the amount of high-resolution content that can be sent to NVIDIA Quadro graphics boards for processing at extremely high speeds, enabling better artist interactivity and, ultimately, better client satisfaction for our customers.”

    “From accelerating 3D painting in MARI, to reviewing shots in HIERO, to compositing in NUKE, Fusion ioFX adds powerful acceleration that can significantly enhance our applications,” said Bruno Nicoletti, Head of Technology and Founder at The Foundry. “All of our software is designed to remove as many technical barriers from production as possible, and Fusion-io acceleration takes that one step further with the ioFX integrated into artist workstations. As the amount of data artists work with in today’s highresolution formats continues to increase, the ioFX can help creatives spendmore time manipulating their work with much more interactivity than before.”

    Fusion ioMemory products such as the ioFX also include Fusion ioSphere remote monitoring and management software, allowing IT teams to monitor and manage all Fusion-io solutions deployed throughout a studio from a single interface.  The 1.6 TB Fusion ioFX will be available in summer 2013, and will be on display at NAB 2013, at a number of leading Fusion-io software and hardware Technology Alliance Program member booths.

    HP Z Workstations feature Fusion ioFX

    Fusion-io also announced that it is collaborating with global workstation leader HP to integrate the Fusion ioFX into the award-winning HP Z820, Z620 and Z420 Workstations. Additionally, professionals interested in adding the Fusion ioFX to their current HP Workstation can purchase the ioFX as a custom integration component.   The new solution will integrate the Fusion ioFX into the powerful HP Z Workstations with Intel Xeon processors. The architecture is designed to deliver an industry-leading platform for digital content creation applications by moving beyond the performance limitations and bottlenecks of traditional systems.

    “I consider HP one of the best engineering companies in the world, so I’m thrilled to see HP and Fusion-io working together to advance workstation computing architectures,” said Steve Wozniak, Fusion-io Chief Scientist. “The Fusion ioFX brings the intelligence of the Fusion-io approach to HP’s incredible workstations, adding even more powerful application performance to the precision engineering HP is known for around the world.”

    “HP is the workstation industry leader, and our customers demand to be the first to get cutting edge solutions that deliver performance, reliability and innovation,” said Jeff Wood, vice president of product management, Commercial Solutions Business Unit, HP. “Providing the Fusion ioFX in our high-end HP Z Workstations will offer customers improved performance to tackle their most challenging projects faster.”

     

  • Thin Reads, an online guide to e-singles, launches

    Thin Reads, a website devoted to e-singles, launched Monday. The site offers reviews and author interviews, bestseller lists drawn from Amazon and a database of titles.

    The site was launched by Howard Polskin, who was previously the EVP of communications and events for the Association of Magazine Media (formerly the Magazine Publishers’ Association). Polskin told me he loves the e-singles format — which he defines as a work of fiction nonfiction between 5,000 and 25,000 words, generally priced between $0.99 and $2.99 — and wants to help readers discover new titles.

    Polskin shared a few findings from his database of about 700 e-singles:

    • 54% of all e-singles available in the database are listed as Original, which means they were created especially as short works of nonfiction or fiction intended to be read on an electronic platform for its original release.
    • 12% of all e-singles available in the database are listed as Encore, which means they were originally published or presented previously in another format.  2% of all e-singles in the database are listed as Encore+, which means that new or updated content was added to a story that was previously published.
    • 31% of e-singles in the database are fiction. 69% are nonfiction.  Narrative nonfiction accounted for 20% of all e-singles in the database.
    • More than 150 publishers are releasing content to the e-singles market, according to the findings of the Thin Reads database. Publishers include: The New York Times Company, Penguin, ProPublica, Random House, St. Martin’s Press, Byliner, the Atavist, HarperCollins, American Express Publishing, GQ Magazine, and TED Conferences.
    • Byliner, Penguin and New Word City have published the most e-singles, with more than 40 titles each.

    Polskin doesn’t plan to monetize the site for now, and said he’s providing it as a service to readers. He also said he’s gotten feedback and input from Amazon, which runs Kindle Singles, and Apple, which has a “Quick Reads” section of the iBookstore.

    Related research and analysis from GigaOM Pro:
    Subscriber content. Sign up for a free trial.

          

    • Miaozhen Systems Raises $10M

      China’s Miaozhen Systems, a third-party big data company in the advertising industry, closed on $10 million in Series C financing recently. CBC Capital, a Beijing-based TMT-focused private equity fund, led the round. Redpoint Ventures, KPCB, as well as WPP Digital, also participated.

      PRESS RELEASE

      Miaozhen Systems, a leading Chinese third-party big data company in the advertising industry, announced that the company has closed a US$10 million Series C round financing led by CBC Capital, a Beijing-based TMT-focused private equity fund.

      Investors also participating in this round include Redpoint Ventures in the United States, KPCB, as well as WPP Digital, Miaozhen said in a statement.

      “Leveraging on technical advantage and big data processing capacity, Miaozhen has become a leader in the industry. Its impressive daily capacity of handling 100 billion advertising requests through the cloud platform enables the company to help customers solve actual problems in marketing. Big data is reshaping the business community, as well as transforming the overall ecosystem of the new media advertising industry,” said Tian Suning, chairman of CBC.

      “With big data application as core business, Miaozhen is seeking to help customers solve problems in marketing in a more scientific and intelligent way, especially those conundrums arising from information explosion and data piles-up due to large uncertainties,” said Zhu Wei, chief executive officer of Miaozhen.

      About Miaozhen Systems

      Miaozhen Systems is the leading third-party advertising technology company in China. Founded in 2006, with more than 280 employees, Miaozhen is a novel high-tech enterprise. Miaozhen headquarters in Beijing, with branch offices in Shanghai, Guangzhou and Singapore, providing products and solutions in Taiwan, Japan and Australia.

      Miaozhen has data processing capability of 100 billion ad requests every day. The cumulative data storage is over 2PB. The exclusive Moment Tracking Technology helps advertisers, agencies and publishers in efficiently measuring online campaign impact (including reach, frequency and demography of target audience), and enhance their online advertising returns. Various leading multinational brands including P&G, Microsoft, Volkswagen, L’Oreal, Coca-Cola, YUM!, are using tools and solutions provided by Miaozhen.

      The post Miaozhen Systems Raises $10M appeared first on peHUB.

    • Reuters – Pension Underfunding Grows

      The gap between what major corporations will owe retired workers and how much they have put aside grew last year despite a strong stock market rally, according to a study set to be released on Monday by Wilshire Associates. The cumulative liability among defined benefit pension plans sponsored by companies in the benchmark Standard and Poor’s 500 index increased to $1.56 trillion in 2012 from $1.38 trillion the year before, outpacing the growth in assets. As a result, the overall funding ratio – a measure of a plan’s assets divided by its commitments – for all plans fell from 79.7 percent to 78.1 percent, the study found.

      (Reuters) – The gap between what major corporations will owe retired workers and how much they have put aside grew last year despite a strong stock market rally, according to a study set to be released on Monday by Wilshire Associates.

      The cumulative liability among defined benefit pension plans sponsored by companies in the benchmark Standard and Poor’s 500 index increased to $1.56 trillion in 2012 from $1.38 trillion the year before, outpacing the growth in assets.

      As a result, the overall funding ratio – a measure of a plan’s assets divided by its commitments – for all plans fell from 79.7 percent to 78.1 percent, the study found.

      Low interest rates – which are used to calculate future benefits – were a significant factor behind the increase in pension liabilities, said Russell Walker, a vice president at Wilshire and one of the authors of the report. Mergers and acquisitions also increased pension funding liabilities.

      United Technologies Corp (UTX.N) saw its liability increase by $5.2 billion after its acquisition of Goodrich Corp, for instance, while the pension obligation at Kraft Foods Group Inc (KRFT.O) increased $7.2 billion as a result of its spinoff of Mondelez International Inc (MDLZ.O).

      Walker said plans will either have to invest in riskier, long-duration credit, hope that interest rates rise and/or increase their contributions.

      The issue of pension funding will grow in importance to both corporations and investors alike as the oldest members of the baby boom generation retire and draw down assets.

      “The huge cohort of upcoming plan beneficiaries are going to put a strain on defined benefit plans,” Walker said. “There’s no question that we are going to see a need to stabilize funding sooner rather than later.”

      Approximately 10,000 baby boomers will turn 65 each day until 2029, according to estimates from the Pew Research Center. The generation is the last to be widely covered by defined benefit pension plans that guarantee workers a set monthly benefit regardless of market conditions. Most of these plans are closed to new employees, who instead save for retirement in so-called defined contribution plans such as 401(k)s.

      The pending deficits of some companies amount to billions of dollars. At $19.7 billion, Boeing Co. (BA.N) had the largest shortfall among the 308 companies studied. General Electric (GE.N), Lockheed Martin Corp (LMT.N), and AT&T (T.N) also had shortfalls of more than $10 billion in fiscal 2012. Pension funding could be a risk that affects the future net earnings of these and other companies, Walker said.

      Overall, the plans included in the study had a median rate of return of 11.8 percent in 2012, the fourth consecutive year of gains. Plans invested a median of 49.6 percent of assets in equities, 36.4 percent of assets in fixed income, and the rest in a mix of cash, real estate, and private equity or hedge funds.

      Benefit payments rose to $76.5 billion from $72.5 billion the year before.

      (Reporting by David Randall; Editing by Leslie Gevirtz)

      The post Reuters – Pension Underfunding Grows appeared first on peHUB.