Category: News

  • German parliament passes ‘Google tax’ law, forcing royalty payments for news snippets

    The German parliament has passed a controversial law that will force search engines and news aggregators to pay publishers royalties for providing short snippets of their articles in results.

    The Bundestag passed the Leistungsschutzrecht für Presseverleger (LSR), or “ancillary copyright for press publishers” law, on Friday by 293 votes to 243. The coalition government was the driver behind the law, and the main opposition, the SPD, now says it will try to defeat the law in the country’s second legislative chamber, the Bundesrat.

    The text that got passed in the Bundestag apparently exempts “small text snippets”, although it does not state how short a text snippet has to be to be royalty-free – if it is less than headline-short, this will probably mean the wholesale removal of all German news publications from Google’s search results.

    Google has been a vocal opponent of the law, for obvious reasons. In France and Belgium the company has settled related disputes with publishers in deals that many have seen as tantamount to a payoff. However, it looks like the German situation is now beyond settlement.

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  • Abraaj Capital to sell Turkish health insurer Acibadem

    ISTANBUL, Feb 28 (Reuters) – Abraaj Capital, the Middle East’s largest private equity firm, plans to sell its 50 percent stake in Turkish health insurer Acibadem Sigorta, three sources familiar with the matter said on Thursday.

    Acibadem Sigorta is a 50:50 joint venture between a holding company owned by Dubai-based Abraaj and Mehmet Ali Aydinlar, founder of Turkey’s Acibadem health group, and ranks third in the sector with a market share of just over 10 percent.

    Turkey’s economy, the fastest growing in Europe in 2011, expanded by less than 3 percent last year but its young and growing population of 75 million is regarded as under-insured, with total premium income rising 12 percent to 19.8 billion Turkish liras ($11 billion).

    Health insurance premiums were up 11.9 percent at 2.24 billion liras last year, with Acbadem Sigorta’s premium income jumping 35.5 percent to 230.3 million liras, according to official data.

    Three global insurers – Allianz, Dai-ichi Life , and Zurich – are already vying to buy Yapi Kredi Sigorta, a joint venture between Turkish group Koc Holding and Italian bank UniCredit, banking sources said this month.

    “Strong demand is expected (for Acibadem Sigorta) as it is one of Turkey’s biggest health insurance firms,” one of the sources familiar with Abraaj’s plans told Reuters.

    Austria’s Raiffeisen Investment has been commissioned to advise on the sale by both shareholders, two of the sources said.

    Just over a year ago Abraaj, which manages around $7.5 billion in assets, sold its stake in Turkey’s largest hospital chain Acibadem Saglik to Integrated Healthcare Holdings, a unit of Malaysian state investment arm Khazanah Nasional, in a deal which valued Acibadem Saglik at $1.68 billion.

    ($1 = 1.7977 Turkish liras) (By Asli Kandemir; editing by Nick Tattersall and Greg Mahlich)

    The post Abraaj Capital to sell Turkish health insurer Acibadem appeared first on peHUB.

  • Berkshire Partners Buys SRS Distribution

    SRS Distribution, a Texas-based distributor of roofing supplies, has been sold to Berkshire Partners, the Boston private equity firm. Specifics on the deal were not publicized. SRS was previously a portfolio company of AEA Investors.

    PRESS RELEASE:

    Harris Williams & Co. Advises SRS Distribution in its Sale to Berkshire Partners

    Richmond, VA, February 28, 2013 – Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of SRS Distribution Inc. (SRS), a leading national distributor of roofing supplies and related materials, to Berkshire Partners. SRS was a portfolio company of AEA Investors LP (AEA). Harris Williams & Co. acted as advisor to SRS. The transaction closed on February 28, 2013 and was led by Mike Hogan, Chris Williams, Ryan Nelson, and Brent Spiller from the firm’s Richmond office.

    “SRS is a remarkable building products platform with an exceptional track record of growth and an outstanding management team. It has been a pleasure working with Ron Ross (CEO) and his team to find a new partner who shares the company’s vision for the future. We have a longstanding relationship with the AEA team and are delighted to have represented them on this transaction” said Mike Hogan, a managing director at Harris Williams & Co.

    In 2012, Harris Williams & Co. also served as the exclusive advisor to Roofing Supply Group (RSG), another leading distributor of roofing supplies and related materials. “The SRS transaction is a further example of the strong investor interest in building products and materials companies. We expect the ongoing recovery in new construction will continue to drive M&A activity in the sector,” added Ryan Nelson, a director at Harris Williams & Co.

    Headquartered in McKinney, TX, SRS is the fourth largest residential roofing distributor in the U.S. with 85 locations in 29 states under 19 different brands: Suncoast Roofers Supply (FL), Southern Shingles (TX/OK/LA/MO/AR), SRS Roofing Supply (AL), Rowe Supply (GA/SC), Atlanta Roofing Supply (GA), Cannon Supply (SC), Columbia Wholesale (SC), Midwest Roofing Supply (IL/MN), Gary-Hobart Roofing Supply (IN), River City Wholesale (KY), Superior Distribution (TN/MD/VA/NC), Shake & Shingle Supply (CO/KS/MO/NE/IL), Stewart Building & Roofing Supply (AZ), Roofline Supply (OR/CA/UT), Stoneway Roofing Supply (WA), Pace Supply (PA/CT), Burbank Roofing Supply Group (CA), ABCO Supply (MI) and Sierra Roofing Supply (NV).

    AEA was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA’s active individual investors include an extraordinary network of more than 75 highly successful business executives, industrial families and former government leaders. Today, AEA’s over 60 investment professionals operate globally with offices in New York, Connecticut, London, Munich, Hong Kong and Shanghai. The firm manages funds that have over $6 billion of invested and committed capital including the leveraged buyouts of middle market companies and small businesses and mezzanine and senior debt investing. AEA Private Equity invests across four sectors: value added industrial products, specialty chemicals, consumer products / retail and services.

    Berkshire Partners, the Boston-based investment firm, has invested in over 100 middle market companies since 1986 through eight private equity funds with aggregate capital commitments of $11 billion. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrial manufacturing, transportation and communications. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. Berkshire seeks to invest $50 million to $500 million of equity capital in each portfolio company.

    Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, board advisory, private placements and capital markets advisory services.

    The firm has the leading middle market building products and materials practice, having closed over 75 sell-side M&A transactions, with a focus on a broad spectrum of related sectors with expertise that spans from lighter building products used in residential and commercial markets to heavy construction materials used in infrastructure applications. For more information on our building products and materials experience, contact Mike Hogan at +1 (804) 648-0072.

    The firm also has the leading middle market specialty distribution practice, having closed over 60 sell-side M&A transactions across a spectrum of industries. For more information on our specialty distribution experience, contact Bob Baltimore at +1 (804) 648-0072.

    Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

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  • MidOcean-backed Bushnell Seeking Buyers

    Feb 28 (Reuters) – Bushnell, an outdoor products manufacturer, is up for a sale in a deal that could be worth $1 billion, three sources familiar with the matter said on Thursday. Bushnell’s owner, private equity firm MidOcean Partners, is finalizing advisors for the process, said all the sources who declined to be identified because the talks are private.

    Based in Overland Park, Kansas, Bushnell has about $100 million in annual earnings before interest, taxes, depreciation and amortization (EBITDA), the sources said. It has annual revenue of roughly $450 million.

    MidOcean Partners declined to comment.

    Founded in 1948, Bushnell makes outdoor accessories such as binoculars, telescopes, night vision equipment and GPS devices. It sells products under various brands such as Butler Creek, Final Approach, Hoppe’s, Millett, Night Optics, Primos, Simmons, Stoney Point, Tasco and Uncle Mike’s.

    It was acquired by MidOcean in 2007 from private equity firm Wind Point Partners. Last April, Bushnell acquired Primos Hunting, a hunting products maker.

    (Reporting by Olivia Oran; Editing by Richard Chang)

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  • Rabbit Hops into $3.3M Seed Round

    San Francisco-based video chat company Rabbit has raised a $3.3 million seed round. Michael Birch, founder of Bebo, CrunchFund and Google Ventures all participated in the investment, as well as angel investors.

    PRESS RELEASE:

    Video Chat Innovator Rabbit Raises $3.3 Million Seed Round
    Google Ventures, CrunchFund and Bebo founder Michael Birch join existing investors to fuel transformation of video chat into social communication and sharing
    SAN FRANCISCO, Feb. 28, 2013 — Rabbit today announced that it has raised a $3.3 million seed round of funding. The round includes new investors Google Ventures, CrunchFund and Bebo founder Michael Birch as well as existing angel investors. The funding round was raised concurrent with the release of Rabbit in private beta earlier this month. The company plans to use the funding for continued investment in Rabbit’s revolutionary video chat and content sharing technology, and launch it out of private beta to users around the world.
    Rabbit is the first and only application that allows you to watch videos, listen to music and share any type of content together while video chatting with your friends.
    “Rabbit’s design and user experience is unlike anything I’ve seen,” said Kevin Rose, General Partner at Google Ventures. “Video chatting is always designed for utility, but Rabbit has created an online social experience that is closer to hanging out with your friends in real life. I can’t wait for the world to see it.”
    Rabbit was founded by four videogame pioneers who saw a need in the market for a new approach to online communications: one that allows synchronous, real-time video chat and sharing of content with small or large groups. By combining current internet infrastructure with cutting-edge gaming, social and VOIP frameworks, as well as applying the principles of massively multiplayer online gaming (MMOGs) and new innovations in product design, Rabbit has delivered an application that is a quantum leap in video chat and social networking.
    “Rabbit is one of those things that should have existed before but couldn’t because the technology simply wasn’t where it needed to be,” said MG Siegler from CrunchFund. “In the age of always-on internet, we’re ready for a paradigm shift in online communication and interaction. And this is the team to deliver on that promise.”
    Rabbit is available in private beta today for Mac OS X (10.7 or higher) and will roll out to additional platforms in the coming months. For updates on general availability of Rabbit, please follow Rabbit on Twitter @LetsRabbit, or Like Rabbit on Facebook at facebook.com/LetsRabbit.
    About Rabbit
    Rabbit revolutionizes video chat: watch movies and TV shows with your friends, listen to music together, chat with an unlimited number of people, and even meet new ones — all in a single application.

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  • PE Firms Bid for SunTrust’s Ridgeworth

    NEW YORK, Feb 28 (Reuters) – SunTrust Banks Inc has found at least three private equity firms interested in buying its Ridgeworth Investments asset management unit, sources said, in the Atlanta-based bank’s third attempt to sell the firm in as many years.

    The price is likely to be $250 million to $300 million, one of the two sources said.

    The prospective bidders include New York-based Lightyear Capital and Crestview Partners, and Chicago-based Thoma Bravo, LLC, said the sources, who declined to be identified because they are not authorized to talk to the media.

    The regional bank in the past few weeks has reached out to a handful of private equity firms about buying Ridgeworth, the sources familiar with the situation told Reuters this week.

    Ridgeworth has $48.1 billion in assets under management, according to the company’s website.

    The bank has provided a handful of buyers updated information about mandates that Ridgeworth has won recently from institutional investors, and it expects to get final bids in the next few days, one of the sources said, declining to elaborate.

    A Lightyear spokeswoman did not return requests for comment. A spokeswoman for Thoma Bravo and spokesmen for Crestview and SunTrust declined to comment.

    SunTrust, which suffered large losses during the financial crisis, was one of the few large U.S. banks whose capital plans such as raising dividends and initiating stock buybacks were rejected by the Federal Reserve Board last year in its stress-test reviews.

    SunTrust tried to sell its asset management business, which includes six managers and its own Ridgeworth Funds, to Henderson Group Plc in 2010, but those talks fell apart. At that time the purchase price was estimated at $300 million to $400 million, according to media reports.

    Last spring, SunTrust tried to sell its business again , but failed to cement a deal, the sources said.

    If Crestview wins the Ridgeworth business, it would mark the second bank-owned asset management acquisition that the private equity firm makes this year.

    Last week, Crestview teamed up with employees of Victory Capital Management to acquire Victory from KeyCorp for $246 million.

    (Reporting by Jessica Toonkel; Editing by Richard Chang)

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  • Stitch Fix Gets Series A

    Stitch Fix, the San Francisco-based personal shopping platform, raised $4.75 million in its Series A. Investors Baseline Ventures and Lightspeed Venture Partners led the round and Western Technology Investment also participated.

    PRESS RELEASE:

    Online Styling Platform Stitch Fix Raises $4.75 Million in Series A Funding
    Baseline Ventures and Lightspeed Venture Partners Investments Help Scale Consumer Business and Extend Product Offerings for Stitch Fix
    SAN FRANCISCO — Stitch Fix, the personal shopping platform bringing the world of personal styling to a new, more accessible market, today announced the closing of its $4.75 million Series A funding round led by Baseline Ventures and Lightspeed Venture Partners, with participation from Western Technology Investment. This funding news crowns a year of rapid growth and product development for Stitch Fix, which has more than doubled its revenue since December 2012.
    “We’ve created and armed our team of stylists with the best analytical tools in fashion to help them select and accurately identify the wardrobe items that best fit each client’s unique taste, lifestyle, size and budget,” said Katrina Lake, Founder and CEO of Stitch Fix. “This new round of funding will help us significantly scale our business and product offering to ensure we can meet the exciting growth we are experiencing.”
    Stitch Fix has developed a suite of proprietary tools and services used by the team to physically deliver personal styling to more than 10,000 clients across the United States. This round of funding will enable the company to invest in and extend its offerings of retail tools, while scaling the company’s operational system by increasing inventory and logistical components to better service an expanding client base.

    “The Stitch Fix team is pioneering a new wave of ecommerce and addressing a multi-billion dollar market opportunity that bridges the gap between the fashion industry and the consumer’s desire to access new and hard to find brands,” says Steve Anderson, Founder of Baseline Ventures. “The company’s early success with women across the country is proof that consumers are ready for truly personalized fashion delivered regularly to their doorstep.”
    Stitch Fix’s team of expert stylists and engineers work together to capture the quintessence of fashion and design in a fundamental way. The company has created the first retail intelligence approach to closets comprised of deep data analytics and complex algorithms that recognize and match personal aspects of each client to specific aspects of clothing items and fashion trends. These efficient and effective styling tools enable Stitch Fix to deliver personal styling to the ‘everyday woman’s’ doorstep, helping her discover and incorporate on-trend looks into her wardrobe without leaving the house.
    “Stitch Fix is the true marriage of the science of data and analytics with the art of fashion. By understanding a woman’s personal attributes, and understanding the attributes of fashion items, Stitch Fix can truly pack a perfect box of fashion items,” says Julie Bornstein, SVP of Digital at Sephora and Stitch Fix Board Member. “I’ve worked in ecommerce for over a decade and haven’t seen anything this exciting in fashion and technology.”
    Since launching in 2011, Stitch Fix works with more than 200 contemporary women’s fashion brands and has delivered tens of thousands of Stitch Fixes – the company’s curated boxes of hand-selected garments and accessories.
    About Stitch Fix:
    Founded in 2011, Stitch Fix is the premiere online personal shopping platform, introducing the world of personal styling to women throughout the country at an accessible price point. Combining the art and science of fashion, Stitch Fix has built a suite of proprietary tools and style-matching technology used by the company’s expert styling team to identify the clothes and styles that best fit each client’s taste, budget and lifestyle. Clients receive Stitch Fix deliveries of five hand-selected garments to try in the comfort of their home, keep what they like and return what they don’t. Stitch Fix’s headquarters and warehouse are based in San Francisco, California.
    For more information, visit www.stitchfix.com.

    The post Stitch Fix Gets Series A appeared first on peHUB.

  • Morning Advantage: The Search for the Perfect Dating App

    There are a ton of dating apps on the market, but they all fail to please a pretty important demographic: women.

    The main issue for women, suggests Ann Friedman at the New Yorker’s Culture Desk blog, is a lack of control. Since men are more active users in dating apps, women are often bombarded with a high-volume of messages and requests. The consensus: it’s a lot of work to scroll through the list of e-suitors, and some of the messages are kind of creepy.

    Friedman says developers still have a lot of work to do because mobile dating is still a “weird” experience for many women. “And it’s likely to stay that way until a start-up comes along that manages to make mobile dating not weird by offering women — and the men they want to meet — control, incredible filters, and clarity of mission. Until then, [women are] left to scroll through page after page of unappealing options.”

    TURN THAT FROWN UPSIDE DOWN

    The Health Benefits of Smiling (Wall Street Journal)

    I tend to take the Rooney Mara, less-is-more approach to smiling — that is, I only smile when I really mean it. Well, it looks like a change in strategy may be in order. Smiling, it turns out, can reduce stress, at least according to new research published in Psychological Science. When participants smiled (the researchers asked them to hold a pair of chopsticks in their mouth), they reported feeling less stress after performing a difficult task. Why? There’s just something about smiling that makes our heart rates go down. But there’s a catch. Some experts believe that these effects only take place when a smile is the real deal. You have to mean it. No faking.

    GLORIFIED WATER

    Why Are American Beers So Weak? (Slate)

    Some angry beer drinkers, you may have heard, are suing Budweiser and Michelob for watering down their beers, which as everyone knows, are pretty weak to begin with. This begs two questions: why are the most popular American brews so light in alcohol content, and why do they dominate the market? Brian Palmer at Slate provides us with some clues, and he says “corporate trickery” and “market manipulation” have nothing to do with Big Beer’s success. Mild beers, you see, became popular in the 1800s as an alternative to whiskey (wince), and they “simply beat other styles of beer in the American market. Mass-marketed lagers were the first beers to truly catch on in the United States, and they have never relinquished that position.”

    BONUS BITS:

    Finally! An Answer!

    Why Cable Has So Many TV Channels You Never Watch (The Atlantic)
    5 Workers Who Can Ruin Your Day (Inc.)
    Disappointed? Unhappy? Embrace Pessimism (National Post)

  • Can a mobile game help find the cure for cancer? Amazon, Google and Facebook hope so

    We already know that data is integral to finding the cure for cancer, but some of that data needs the attention of human rather than machine eyes in order to be properly interpreted. To that end, the charity Cancer Research UK has teamed up with Amazon, Facebook and Google to create a mobile game for analysing genetic mutations.

    The aim of the game is simply to harness more eyes – cancer researchers already trawl through genetic data to try to pick up on subtle irregularities, but the task would be a lot easier if more people were involved. The charity has already created a web-based game called Cell Slider for looking through archived tissue samples, but the new game is supposed to make the search for a cure more fun, and more suitable for on-the-go usage.

    Cancer Research UK is holding a hackathon called GameJam this weekend, through which 40 coders – including Facebook engineers — gamers, graphic designers and “other specialists” will hopefully come up with a suitable format (the goal is a game that can be played for just 5 minutes at a time). The result will be hosted on Amazon Web Services, and Google is hosting the event and providing financial support for the scheme.

    “We’re making great progress in understanding the genetic reasons cancer develops. But the clues to why some drugs will work and some won’t, are held in data which need to be analysed by the human eye – and this could take years,” Professor Carlos Caldas, senior group leader at Cancer Research UK’s University of Cambridge facility, said in a statement.

    “By harnessing the collective power of citizen scientists we’ll accelerate the discovery of new ways to diagnose and treat cancer much more precisely.”

    According to Cancer Research UK, Cell Slider has already reduced the analysis time for some clinical trial data from 18 to 3 months – and that’s with tens of thousands of users. The hope is that this new mobile game would pick up hundreds of thousands of users.

    The game will launch this summer. If the participants pull it off, it would probably qualify as the most useful application of the “gamification” trend in history.

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  • BSkyB buys Telefonica UK’s fixed-line business for $300M

    British Sky Broadcasting Group (BSkyB) will buy Telefonica’s UK fixed-line broadband and telephony business for up to £200 million ($303 million), the companies announced early on Friday.

    The deal, which is subject to regulatory clearance, should close in April. If that goes ahead, the customers will be moved off the O2 and BE Broadband brands and become Sky customers. Sky (40 percent of which is owned by Rupert Murdoch’s News Corp) would then become the UK’s second-largest ISP, behind BT and ahead of Virgin Media.

    Telefonica will get £180 million for its broadband business, plus an extra amount — up to £20 million — upon the “successful delivery and completion of the customer migration process”.

    Here’s what Sky CEO Jeremy Darroch had to say:

    “Sky has been the UK’s fastest-growing broadband and telephony provider since we entered the market six years ago. From a standing start in 2006, we have added more than 4.2 million broadband customers. The acquisition of Telefónica UK’s consumer broadband and fixed-line telephony business will help us accelerate this growth.

    “We believe that the O2 and BE consumer broadband and telephony business is a great fit, with customers used to high-quality products and strong levels of customer service. We look forward to welcoming these new customers to Sky and giving them access to our wide range of high-quality products, great value and industry-leading customer service.”

    This deal is not hugely surprising, in that O2/BE has a shrinking customer base (as ISP Review notes, that base peaked at 671,000 customers and currently sits at around 560,000). However, it may prove to represent more than consolidation in the UK’s fixed-line market.

    European mobile carriers are itching to carry out more mergers, particularly in highly competitive markets. The UK is about as competitive as it gets. With Deutsche Telekom and France Telecom having already merged their UK operations (formerly T-Mobile and Orange) into EE, I would now frankly be surprised if we didn’t see the newly mobile-only O2 UK merge with one of the others. Based on the complementary nature of their recent 4G spectrum wins, Vodafone would be a good fit.

    This is shaping up to be a very exciting year in the UK communications market.

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  • HTC One wins best new device at Mobile World Congress

    HTC had a reason to celebrate yesterday as the HTC One picked up the Best New Mobile Handset, Device or Tablet at Mobile World Congress 2013, the final award of the 18th Annual Global Mobile Awards.

    The main ceremony, hosted by actor, comedian and swimmer David Walliams, was held on Tuesday and saw the Galaxy S III named the best smartphone of 2012, beating out the likes of the Apple iPhone 5, Nokia’s Lumia 920, and HTC’s Droid DNA.

    That wasn’t the only upset for Apple as the iPad missed out too, with Google’s Asus-built Nexus 7 scooping the award for Best Tablet of 2012.

    Other noteworthy wins included Best Mobile Enabled Consumer Electronics Device which went to Samsung for the Galaxy Camera, Best Mobile App for Consumers, which went to Facebook, and Best Mobile App for Enterprise which was picked up by Evernote. The Best Overall Mobile App, as chosen by the judges, went to Waze.

    Samsung’s Smart LTE Networks picked up awards for Best Mobile Infrastructure and Outstanding Overall Mobile Technology, and the South Korean firm also picked up the coveted Device Manufacturer of the Year award.

    The HTC One was clearly a worthy winner at the show, but is Galaxy S III really the best Smartphone in the world? Leave your thoughts in the comments below.

  • Fluidic shows a peek of its metal air batteries for off and on the grid

    A quiet startup in Scottsdale, Arizona called Fluidic Energy showed off its grid-scale metal air batteries for one of the first times in a video at the ARPA-E Summit this week (embedded below). The battery technology was developed at Arizona State University by ASU Materials Science Professor and Fluidic founder Cody Friesen, and spun out several years ago.

    The video shows Fluidic’s batteries installed under what looks like a radio or cell phone tower, and Friesen said that the company’s batteries are already being tested in the field in developing markets where the grid is unreliable as a replacement for diesel generators or lead acid batteries. Friesen said that using the “tens of millions of cell hours in the field,” the company plans to target the grid market in the U.S.

    FLUIDIC: Metal Air Recharged from DOE ARPA-E on Vimeo.

    A battery is usually made up of an anode on one side and a cathode on the other, with an electrolyte in between. Fluidic’s battery uses zinc as the metal for the anode, air as the cathode, which is drawn in from the environment, and a liquid electrolyte. Air batteries have long been attractive to researchers because oxygen is abundant, free, and doesn’t require a heavy casing to keep it inside a battery cell.

    Reporter Tyler Hamilton wrote some details about Fluidic’s technology in an article back in 2009. Hamilton wrote that one of the key innovations is that Fluidic’s battery uses an ionic liquid (liquid salt) for its electrolyte, instead of an aqueous solution that is made up of water. Water-based electrolytes can evaporate and tend to decompose when the voltage gets too high in metal air batteries.

    Fluidic’s other innovation, reported Hamilton, is a metal electrode architecture that uses different sized pores to combat a problem with batteries where sharp needles called dendrites are formed. These needles occur because the metal isn’t plating across the battery uniformly and can ruin the battery.

    Fluidic Energy

    The combo of these innovations are supposed to deliver a metal air battery that can be recharged, has high energy density (amount of energy that can be stored), and is inexpensive. If the battery was used in an electric car, it could have 400 to 500 mile range for the price of a lead acid battery. The ARPA-E site says the battery is shooting for 5,000 charge and discharge cycles. Friesen says in the video that the battery is the first proven, high-cycle rechargeable metal air battery out there.

    Fluidic has a $5.13 million grant from the Department of Energy, and a $3 million grant from ARPA-E. A couple weeks ago Fluidic closed on a round of $13.8 million, in 2011 raised $33.4 million and in 2009 raised $1 million. This article in Phoenix Business Journal says inverter manufacturer Satcon and Chevron Energy Solutions are investors.

    At one point in 2011 former First Solar President Bruce Sohn had joined Fluidic as CEO, but he only stayed on for about 8 months. Former WalMart CEO Lee Scott was sitting on the company board as of last year, and raved about Fluidic at the ARPA-E Summit in 2012.

    Other companies developing metal air batteries include IBM, working with Japanese chemical companies Asahi Kasei and Central Glass, Eos Energy Storage, and PolyPlus. Metal air batteries have been under development for decades, and some think the technology is overhyped.

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  • Sumeet Jain Joins Intel Capital From CMEA

    Sumeet Jain announced on his blog that he has joined Intel Capital as an investment director to focus on consumer Internet, mobile Web and software investments. He was previously a partner at CMEA Capital, joining the firm in 2008 and sitting on boards at Apriso, Blekko, Intermolecular, Luminate, WorkingPoint and Zarly.

    Jain said he would “continue to seek out teams (that) build delightfully simple products and services (that) feed off of massive data and intelligence” around them.

    Here is a link to his blog entry.

    The post Sumeet Jain Joins Intel Capital From CMEA appeared first on peHUB.

  • Estimating Illegal Entries at the U.S.-Mexico Border

    Final Book Now Available

    The U.S. Department of Homeland Security (DHS) is responsible for securing and managing the nation’s borders. Over the past decade, DHS has dramatically stepped up its enforcement efforts at the U.S.-Mexico border, increasing the number of U.S. Border patrol (USBP) agents, expanding the deployment of technological assets, and implementing a variety of “consequence programs” intended to deter illegal immigration. During this same period, there has also been a sharp decline in the number of unauthorized migrants apprehended at the border.

    Trends in total apprehensions do not, however, by themselves speak to the effectiveness of DHS’s investments in immigration enforcement. In particular, to evaluate whether heightened enforcement efforts have contributed to reducing the flow of undocumented migrants, it is critical to estimate the number of border-crossing attempts during the same period for which apprehensions data are available. With these issues in mind, DHS charged the National Research Council (NRC) with providing guidance on the use of surveys and other methodologies to estimate the number of unauthorized crossings at the U.S.-Mexico border, preferably by geographic region and on a quarterly basis. Options for Estimating Illegal Entries at the U.S.-Mexico Border focuses on Mexican migrants since Mexican nationals account for the vast majority (around 90 percent) of attempted unauthorized border crossings across the U.S.-Mexico border.

    [Read the full report]

    Topics: Behavioral and Social Sciences

  • Collecting Compensation Data from Employers

    Final Book Now Available

    U.S. agencies with responsibilities for enforcing equal employment opportunity laws have long relied on detailed information that is obtained from employers on employment in job groups by gender and race/ethnicity for identifying the possibility of discriminatory practices. The U.S. Equal Employment Opportunity Commission (EEOC), the Office of Federal Contract Compliance programs of the U.S. Department of Labor, and the Civil Rights Division of the U.S. Department of Justice have developed processes that use these employment data as well as other sources of information to target employers for further investigation and to perform statistical analysis that is used in enforcing the anti-discrimination laws. The limited data from employers do not include (with a few exceptions) the ongoing measurement of possible discrimination in compensation.

    The proposed Paycheck Fairness Act of 2009 would have required EEOC to issue regulations mandating that employers provide the EEOC with information on pay by the race, gender, and national origin of employees. The legislation was not enacted. If the legislation had become law, the EEOC would have been required to confront issues regarding currently available and potential data sources, methodological requirements, and appropriate statistical techniques for the measurement and collection of employer pay data.

    The panel concludes that the collection of earnings data would be a significant undertaking for the EEOC and that there might be an increased reporting burden on some employers. Currently, there is no clearly articulated vision of how the data on wages could be used in the conduct of the enforcement responsibilities of the relevant agencies. Collecting Compensation Data from Employers gives recommendations for targeting employers for investigation regarding their compliance with antidiscrimination laws.

    [Read the full report]

    Topics: Industry and Labor | Behavioral and Social Sciences

  • West Wing Week: 03/01/13 or “Hope Springs Eternal”

    This week, the President urged Congress to take a responsible approach to deficit reduction instead of the indiscriminate across-the-board spending cuts called the sequester. He also met with the Prime Minister of Japan, America's Governors, and the country's only all-black Ranger unit, and unveiled a truly moving monument to Rosa Parks.

     

     

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  • Live a life to do with beauty: Shane Koyczan at TED2013

    Photo: James Duncan Davidson

    Photo: James Duncan Davidson

    Spoken-word poet and artist Shane Koyczan is onstage at TED, sharing his own experiences and charming us silly. This is an intimate, heartfelt look into a life that has not always been easy. “I’ve been shot down so many times I get altitude sickness just from standing up for myself,” he says.

    Being told to stand up for yourself is a common response to trouble. But “that’s hard to do if you don’t know who you are.” Asked what he wanted to do when he grew up, Koyczan found it a difficult question to answer. “When I was a kid, I wanted to be a man,” he says. “When I was a kid, I wanted to shave. Now, not so much.” (Koyczan, it should be noted, has an impressively full beard.) “When I was 8, I wanted to be a marine biologist. When I was 9, I saw the movie Jaws and said ‘no thank you.’”

    He said he wanted to be a writer. And he was told: “Choose something realistic.” He said he wanted to be a professional wrestler. “They said, don’t be stupid. They asked me what I wanted to be, then told me what not to be. I wondered what made my dreams so easy to dismiss.”

    In Koyczan’s world, even his dreams were called names. But he kept on. I was going to be a wrestler, and my name would be the Garbage Man. “My finishing move was going to be the Trash Compactor.” He turned to poetry, and he concludes this beautiful, lyrical presentation by reading the poem “To This Day,” which he wrote to explore the impact of bullying, and which was animated through an open call for contributions (the film plays in the background). It’s a clarion call for action, and it makes the audience decidedly weepy. A sample:

    so we grew up believing no one
    would ever fall in love with us
    that we’d be lonely forever
    that we’d never meet someone
    to make us feel like the sun
    was something they built for us
    in their tool shed

    It’s a bravura performance, and a tearful Koyczan receives a prolonged standing ovation.















  • Escape from North Korea: Hyeonseo Lee at TED2013

    Photo: James Duncan Davidson

    Photos: James Duncan Davidson

    Hyeonseo Lee saw her first public execution at age 7. A child growing up in North Korea, the moment affected her, but she didn’t have the frame of reference to understand the government repression going on around her.

    “When I was little, I thought my country was the best on the planet,” she says in Session 10 of TED2012. “I was very proud … I often wondered about the outside world, but I thought I would spend my life in North Korea.”

    In the 1990s, a famine struck North Korea, killing an estimated million people. And while Lee’s family was able to eat, in 1995, her mom brought home a girl. With the girl was a letter that read, “When you read this, our family members will not exist in this world because we have not eaten.”

    “I was so shocked,” says Lee. “This was the first time that I heard people in my country were suffering.”

    She began to hear of people surviving by eating grass and tree bark. While she lived only across a river from the Chinese border — close enough to see their lights, and wonder why her side was so dark — the bodies floating in the river of drowned escapees was enough to deter escape.

    Lee can’t share a lot of details of how she left North Korea — she can only say that at some point, she was sent to stay with distant relatives. She thought she’d see her immediate family again soon. That wouldn’t happen for another 14 years.

    Lee lived in China, essentially on her own, posing as if she were Chinese so that she wouldn’t be sent back to North Korea.

    “One day, my worst nightmare came true,” says Lee. She was caught by the Chinese police. Someone had accused her of being North Korean, and she was subjected to brutal tests of her ability to speak Chinese. “I was so scared, I thought my heart would explode.”

    Luckily, she passed the test and felt a surge of relief when the officers said: “She isn’t North Korean.”

    TED2013_0065604_DSC_8972“Every year, countless North Koreans are caught in China, sent back, tortured, imprisoned, publicly executed … It was a miracle,” says Lee. “It’s tragic that North Koreans have to hide their identity just to survive. Even after getting out, their whole world can be turned upside down.”

    Ten years later, Lee started life over again in South Korea, learning a new culture and going to university. But soon, she received another panic in the form of a telephone call. North Korean officials had intercepted money sent to her family. She needed to help them escape, and quick.

    On the stage, Lee narrates the incredible journey to get her family out. When they were caught by Chinese police, Lee managed to convince them that her family was “these deaf and dumb people that I am shepherding.” It worked, and Lee’s family made it through China and into southeast Asia. But then they were arrested for border crossing.

    “This was one of the lowest points in my life,” says Lee. “I did everything to help my family to get to freedom and we came so close. But they were thrown in jail just a short distance from the South Korean embassy.”

    It was the kindess of a stranger that saved them. A random man asked Lee what was wrong. He took her to an ATM and gave her money to pay her family’s way out of jail. When she asked him why, he said: “I’m not helping you, I’m helping North Korean people.”

    Lee’s story is powerful and a good reminder that getting to freedom is only half the battle.

  • Former Apple advertising expert Guy Kawasaki has joined Motorola

    google_motorola

    We’ve seen how big of an impact marketing can make a product, especially from the king of the Android pile, Samsung. And if there’s one thing Motorola and Google could use to sell a few more Moto smartphones, it’s some juiced up marketing. Guy Kawasaki, known for his excellent work done with Apple, has joined up with Motorola to try to steer things in the right direction regarding product design, user interface, marketing, and social media. Priority number 1? Getting a mobile devices Google+ community up and running for smartphone enthusiasts.

    On his Facebook page, he stated one of the reasons he wanted to join the Motorola team was how much it reminded him of Apple back in the era of the G3 computer. He believes Motorola has the potential to release some innovative, great products to give Samsung a run for their money. Between him and Google, I think Motorola’s going to have a successful career in the Android ecosystem.

    source: Facebook

    Come comment on this article: Former Apple advertising expert Guy Kawasaki has joined Motorola

  • The invisible man: Liu Bolin at TED2013

    Photo: James Duncan Davidson

    Photo: James Duncan Davidson

    Can a person disappear in plain sight? That’s the question Liu Bolin‘s remarkable works all seem to ask. The Beijing-based artist is sometimes called “The Invisible Man” because in nearly all his art, Bolin is front and center — and completely unseen. Bolin aims to draw attention to social and political issues by dissolving into the background of his work.

    liu bolin 3

    When Bolin works, he stands as still as he can for as long as he can against the background he plans to disappeared into. He wears a suit, and his assistants paint over the suit and his face. When the camera is placed directly in front of him he appears indistinguishable from the scene behind him. A simple painting takes 3 to 4 hours. Something as complicated as “Supermarket,” below, takes 3 to 4 days. There is no Photoshop involved.

    liu bolin

    Between 1998 and 2000, 21 million people in China were laid off during China’s great economic transition to a market economy. In his piece “Laid Off,” Bolin poses six of those laid-off workers against a green-and-white wall, disappearing them into the factory where they worked for their entire lives. Above them a slogan from the Cultural Revolution reads: “The communist period is the thriving force behind our cause.”

    liu bolin 2

    As he says, “The attitude of the artist is more important than the content of the creation. It’s life’s struggles, not necessarily artistic skills, that touch people. The process of each life struggle is what we call art, regardless of its form.”