Mereja

Category: News

  • Lost Creator Damon Lindelof Goes on Epic Twitter Rant About Justin Bieber’s Spiky Yellow Hat

    Overnight, Lost co-creator Damon Linedelof discovered and then spent many hour tweeting about Justin Bieber’s spiky yellow hat (pictured both above and below, for maximum emphasis).

    Here is that epic rant, presented without further commentary.

    Lindelof warned his followers that he was going to spend the next 9 hours tweeting about Justin Bieber’s hat, so at least there’s that.

    And so he did:

    Eventually, he started feeling the wrath of the Belieber army on Twitter:

    Bieber has yet to respond on Twitter.

  • Ouya Consoles Begin Shipping on March 28

    The Ouya console has been quite the success story. The Google Android-powered game console began as a Kickstarter campaign asking for just under $1 million from people who would like to own a more open home video game console. The campaign earned its goal in less than one day and went on to raise over $8.5 million from tens of thousands of backers.

    When the campaign ended in August 2012, a tentative release date of March 2013 was set. Though six months seems like very little time to develop a new game console, the Ouya’s developers seem to have followed through on their promise.

    Ouya today announced that Ouya consoles will begin shipping to those who backed the Kickstarter campaign on March 28. Production of the consoles is already progressing and will ramp up throughout the next month. As the company announced earlier this month, gamers who didn’t have a chance to back the Kickstarter campaign can expect to see the console hit retail store shelves sometime in June.

    Though the launch lineup of games for the Ouya may be sparse, the company used the launch date announcement to reveal several titles that will be coming to the console. In particular, an exclusive projects for the Ouya is being created by Quantum Conundrum developer Airtight Games, and Papo & Yo developer Minority Media will release an “adventure puzzler” for the console this fall.

    In addition to the games, Ouya also announced that Thatgamecompany co-founder Kellee Santiago has joined Ouya as head of developer relations. Thatgamecompany is best known for developing Flower and Journey, which ended up on many game-of-the-year lists for 2012.

  • Groupon CEO Andrew Mason Is Being Replaced

    Groupon just announced that CEO Andrew Mason will no longer remain CEO of the company, which he founded. The company reported massively disappointing financial results on Wednesday, and the board has finally had enough.

    Groupon Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis have been appointed to a newly created “Office of the Chief Executive,” effective immediately. They will serve in this role until they find a replacement for Mason. The search has already commenced.

    “On behalf of the entire Groupon Board, I want to thank Andrew for his leadership, his creativity and his deep loyalty to Groupon. As a founder, Andrew helped invent the daily deals space, leading Groupon to become one of the fastest growing companies in history,” said Lefkofsky.

    “Groupon will continue to invest in growth, and we are confident that with our deep management team and market-leading position, the company is well positioned for the future,” said Leonsis.

    The company is careful to note that guidance outlined in its announcement on Wednesday remains unchanged.

    Frankly, it was only a matter of time until the company ousted Mason. Rumors were already swirling late last year that it was about to happen. They managed to pretty much stifle the rumors until this week.

    Mason tweeted out a message to Groupon employees:

    The link in his tweet is having some issues for some. Here’s the full text of the letter:

    People of Groupon,

    After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that’s hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.

    You are doing amazing things at Groupon, and you deserve the outside world to give you a second chance. I’m getting in the way of that. A fresh CEO earns you that chance. The board is aligned behind the strategy we’ve shared over the last few months, and I’ve never seen you working together more effectively as a global company – it’s time to give Groupon a relief valve from the public noise.

    For those who are concerned about me, please don’t be – I love Groupon, and I’m terribly proud of what we’ve created. I’m OK with having failed at this part of the journey. If Groupon was Battletoads, it would be like I made it all the way to the Terra Tubes without dying on my first ever play through. I am so lucky to have had the opportunity to take the company this far with all of you. I’ll now take some time to decompress (FYI I’m looking for a good fat camp to lose my Groupon 40, if anyone has a suggestion), and then maybe I’ll figure out how to channel this experience into something productive.

    If there’s one piece of wisdom that this simple pilgrim would like to impart upon you: have the courage to start with the customer. My biggest regrets are the moments that I let a lack of data override my intuition on what’s best for our customers. This leadership change gives you some breathing room to break bad habits and deliver sustainable customer happiness – don’t waste the opportunity!

    I will miss you terribly.

    Love,
    Andrew

    Also, he tweeted this yesterday:

    image: Stanford Business (YouTube)

  • SunTx Capital Partners Sells Huron Inc.

    Dallas-based SunTX Capital Partners has sold its portfolio company, Huron, a Lexington, Mich.-based supplier of tubular assemblies and precision-machined products. Terms of the sale, to a “financial sponsor,” were not disclosed.

    PRESS RELEASE:

    SunTx Capital Partners (“SunTx”) today announced the sale of its portfolio company, Huron, Inc. (“Huron” or “the Company”) to a financial sponsor. Financial terms of the transaction were not disclosed.
    Huron, based in Lexington, Michigan, is a leading supplier of value-added tubular assemblies and precision machined products for the automotive industry. Originally founded in 1943, Huron utilizes advanced technologies and state-of-the-art systems to engineer and manufacture a diverse variety of customized products for the automotive industry. The Company has been successful in securing new business awards for its products and services, particularly in relation to emerging powertrain technologies. Customers of Huron include some of the world’s largest car manufacturers, as well as Ford Motor Company and Toyota and other key automotive OEM and Tier I suppliers.

    Ned Fleming, Founder and Managing Partner of SunTx commented, “Today’s announcement marks an important milestone for all parties involved. The sale of Huron is a validation of our firm’s investment strategy of seeing value in mid-sized operating companies where others do not and patiently working with management to build a better company for its stakeholders, while creating value for our investors. SunTx has enjoyed supporting Huron’s successful transition from a supplier of commodity components to a supplier of strategic products to many of the auto industry’s biggest names. We have been an investor in Huron since 2005 and we wish the Company continued success.”

    Bob Bales, President of Huron, noted, “Huron is clearly an industry survivor and is well-positioned to continue growing the business.” Mr. Bales added “We sincerely thank Ned Fleming and the SunTx team for their support, particularly during the automotive industry’s most challenging economic times. SunTx has been an excellent partner; they encouraged us to think broadly and creatively and helped us strategically position the Company. Their input complemented our operational acumen.”
    Donnelly Penman & Partners served as financial advisor and Haynes and Boone, LLP served as legal counsel to SunTx with respect to the transaction.
    About Huron, Inc.
    Huron, Inc. is based in Lexington, Michigan and is the leading supplier of value-added tubular assemblies and precision components used in automotive engine, transmission, fuel and climate control systems. The Company is one of the largest independent producers of precision bar-turned products in the U.S. and has successfully leveraged its position to expand into specialized tubular fabrication market. More information about Huron can be found at www.huroninc.com.

    About SunTx Capital Partners
    SunTx Capital Partners, LP, is a Dallas-based private equity firm that invests in middle market manufacturing, distribution and service companies. SunTx specializes in supporting talented management teams in industries where SunTx can apply is operational experience and financial expertise to build leading middle-market companies with operations typically in the Sun Belt region of the United States. SunTx was founded in 2001 and currently has over $600 million of assets under management. The capital committed by SunTx comes from the principals of SunTx as well as from institutional investors, including leading university endowments and corporate and public pension funds. More information about SunTx can be found at www.suntx.com.

    The post SunTx Capital Partners Sells Huron Inc. appeared first on peHUB.

  • CEO Andrew Mason is out at Groupon

    After a disastrous earnings call on Wednesday for its fourth quarter numbers that sent the stock plunging, Groupon announced Thursday that its CEO Andrew Mason will be departing as CEO. The company is searching for a new executive, it reported.

    The company wrote in a press release about the changes taking place:

    “Groupon, the global leader in local commerce, today announced a leadership change in which Executive Chairman Eric Lefkofsky and Vice Chairman Ted Leonsis have been appointed to the newly created Office of the Chief Executive, effective immediately, replacing Andrew Mason. Lefkofsky and Leonsis will serve in this role on an interim basis. The Board has commenced a search for a new Chief Executive.”

    Mason wrote in a blog post why he will be exiting the company:

    “After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. From controversial metrics in our S1 to our material weakness to two quarters of missing our own expectations and a stock price that’s hovering around one quarter of our listing price, the events of the last year and a half speak for themselves. As CEO, I am accountable.”

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

  • Facebook Officially Announces Atlas Acquisition

    We’ve known for quite some time, at least based on rumor, that Facebook would acquire the Atlas ad platform from Microsoft. The rumors heated up this week, and today, the company has finally made the official announcement.

    “We’re focused on improving marketers’ ability to measure how well their ads perform and believe this acquisition will allow marketers greater ability to measure the ROI of their ads for all their digital media spend,” a spokesperson tells WebProNews. “Ultimately, Atlas’s powerful platform, combined with Facebook partners Nielsen and Datalogix, will help advertisers compare their Facebook campaigns to the rest of their ad spend across the web on desktop and mobile.”

    “Today’s marketing environment is much more complex than it was just a few short years ago,” says Brian Boland, Facebook’s Director of Product Marketing. “Marketers and agencies struggle to understand how their efforts across different channels complement and strengthen each other. Consequently, they are forced to adopt siloed marketing strategies for each channel, leading to poor and inconsistent end-user experiences.”

    “This challenge also provides an opportunity,” he adds. “If marketers and agencies can get a holistic view of campaign performance, they will be able to do a much better job of making sure the right messages get in front of the right people at the right time. Atlas has built capabilities that allow for this kind of measurement, and enhancing these systems will give marketers a deeper understanding of effectiveness and lead to better digital advertising experiences for consumers.”

    As Boland points out, a lot of marketers that advertise on Facebook are already using Atlas, so it’s familiar territory. It’s been an approved partner for measurement since June.

    Atlas clients won’t see any change in service, according to Facebook, who say it will continue to invest in the platform. The company says it does intend to scale its back-end measurement systems and enhance its current suite of tools on desktop and mobile, and plans to make improvements to the user interface and functionality.

    Terms of the deal were not disclosed.

  • HGST’s Nanotechnology Printing Breakthrough Is Great News For Data Center Storage And HDD Capacity

    HGST-1.2Tbit-cropped-2013SPIE[4]

    If you’re at all familiar with mobile processors, you’ve likely heard a lot about 32nm vs. 28nm construction when comparing the current generation of chips from companies like Qualcomm and others. That refers to the size of the processor, where a smaller number is better in terms of power consumption, fitting more transistors in less space for more efficient processing.

    Currently, it’s hard to get past around the 20nm when creating individual patterns for data storage on today’s disk drives, which is another area in addition to processors where Moore’s Law applies. Today though, HGST, a Western Digital Company, announced a breakthrough that allows it to produce patterns as small as 10nm, via a process called “nanolithography,” meaning that it can essentially double the current maximum storage capacity possible in hard disk drives, given the same-sized final product.

    HGST’s process, which was developed in tandem with Austin, Texas-based silicon startup Molecular Imprints, Inc. doesn’t use the current prevailing photolithography tech, which is limited in how small it can go by the size of light wavelengths, which is what allows it to get to the 10nm threshold, and hopefully beyond even that in time, HGST VP of Research Currie Munce told me in an interview.

    The upshot of all this is that HGST hopes to have the process ready for wide-scale commercial production by the end of the current decade, with a process that makes the resulting storage both affordable and dependable enough to be used widely by customers who need ever-increasing amounts of storage. The number of customers who fit that description is increasing rapidly, too: the advent and growth in popularity of cloud services means that big companies like Facebook, Apple and Amazon are continually building and expanding new data centers in search of greater storage capacity. HGST’s nanolithography process could double the storage capacity per square foot at any of those facilities, without having the same effect on power requirements, which is clearly an attractive proposition.

    While the process looks well-suited to disk-based storage, where redundancies and workaround can account for minor imperfections at the microscopic level, Munce says that HGST nanolithography is less well-suited to the task of creating mobile processors for smartphone like those mentioned above.

    “If you don’t connect the circuits properly on a processor it doesn’t work at all,” he explained. “On a hard disk drive, we can always have error connecting codes, we can always use additional signal processing to cover up a few defects in the pattern that’s created.”

    Still, for HDDs and computer memory (RAM), HGST’s breakthrough could have a massive impact on cloud computing, mobile devices and the tech industry as a whole, and all within the next five to six years.

  • The Weather Channel Resorts to Dickish Behavior to Promote Its New Android App

    The new Weather Channel app for Android lets you know exactly when weather events like rain or snow are supposed to start. Cool, right?

    What’s not cool is installing sprinklers inside a bus shelter and drenching everyone inside because they didn’t have the app so they didn’t know when the rain was going to start.

    Get it?

    Sure, they’re probably actors and they look like they’re laughing in the end. But you can’t tell me that the guy wearing the headphones is anything other than incredibly pissed off about the whole situation.

    [Adrants via Gawker]

  • God Of War: Ascension Trailer Details A Powerful New Enemy

    Tomb Raider may be starting the most jam packed month of game releases we’ve seen in years, but God of War: Ascension will be following close behind for those of us who still aren’t satisfied after DmC and Metal Gear Rising.

    The latest God of War: Ascension trailer focuses on a new enemy in the game – the Empusa’s Lure. The character is similar to the harpies and gorgons of previous games, but its classification as a succubus could make it a bit more terrifying.

    Word of warning: The trailer does feature some spoilers, and monster breasts. I’ll leave it up to you to decide which is more offensive.

    God of War: Ascension launches on March 12 exclusively on the PS3.

  • Andreessen Horowitz Leads $10.3M Round for Beauty Brand Julep

    Julep Beauty, a Seattle-based beauty brand, has raised $10.3 million in Series B funding led by the venture firm Andreessen Horowitz and including Western Technology Investments and Version One Ventures. Previous investors in the company, including Maveron; Lady Gaga’s manager, Troy Carter; and Precedent Investments also participated in the new round.

    PRESS RELEASE:

    Julep Beauty Incorporated, one of the fastest growing beauty brands in the U.S., is breaking ground in product innovation and using the power of new ecommerce platforms and social tools in place of traditional marketing. Today Julep announced that it has raised $10.3 million in a Series B round of financing led by Andreessen Horowitz with participation from returning investor Maveron, the venture capital firm co-founded by Dan Levitan and Howard Schultz. Existing investors also include Lady Gaga’s Manager, Troy Carter, and Precedent Investments, a joint venture capital fund financed by entertainment powerhouse Overbrook Entertainment’s James Lassiter, Will and Jada Pinkett Smith, and Jay-Z’s Roc Nation. Western Technology Investments and Version One Ventures are also participating.

    “I started Julep out of a passion for connecting with my sisters and girlfriends through beauty,” says Jane Park, CEO and founder. “For me, beauty is about connection, not competition. So my vision is to bring a new social approach to the beauty industry by having a two-way conversation online with our fans, incorporating their ideas directly into our rapid product innovation cycle.”

    Park, a former Starbucks executive, has grown Julep as a multichannel beauty brand fueled by digital and social media. Unparalleled innovation and speed-to-market, coupled with vocal social media engagement instead of traditional marketing, have enabled the brand to produce more products in an 18-month span than any other beauty company. The brand’s wildly popular Julep Mavens program is a monthly beauty subscription service that allows consumers to engage directly through new product trial and online discussions.

    Today, brands in the *$160 billion a year global beauty industry lag behind other industries in using the social web to build businesses. Park uses the power of e-commerce platforms, big data and social tools to accelerate the growth of the Julep brand. “We don’t have to spend millions of dollars launching a new product–our social media girlfriends are highly engaged consumers who help us get the word out,” says Park. In the last year and a half, Julep has launched 52 new beauty products including mascaras, lip glosses and glycolic scrubs, and 186 nail colors. The number of products launched each month is so impressive because of Julep’s distinctive marketing blueprint: the freedom to operate without the limits of physical shelf space.

    In 2012, Julep was recognized as an Indie Brand of the Year finalist in the prestigious 2012 Cosmetic Executive Women Beauty Awards. The company also launched on QVC and in Sephora nationwide as part of the Julep brand’s continued trajectory. This round of Series B financing will help further propel Julep in the beauty space, with innovative launches into the major categories of skin care and color cosmetics already planned for 2013 and 2014.

    “Jane, Kate [MacDonald – Chief Experience Officer and COO] and team have leveraged the Internet to build Julep into a compelling brand at a pace previously unheard of in beauty,” said Jeff Jordan, partner, Andreessen Horowitz. “We are delighted to be leading this round of financing that will give the company the resources to continue their impressive traction.”

    “As direct TV proved to be a launching pad for enduring beauty brands decades ago, we believe new social media channels will be the catalyst for launching the next great multi-channel beauty companies,” says Maveron board member Jason Stoffer, who led Julep’s first institutional round of financing. “Julep is a pioneer in using Facebook, Pinterest and the social web to deeply engage its community of beauty lovers around color and fashion forward beauty products.”

    Joining Julep’s Board of Directors is Spencer Rascoff, CEO of Zillow.com. Current Board Members include Jason Stoffer from Maveron and Jeff Kearl, the founder and current chairman of the Board of Skullcandy, and Padma Rao, who led marketing at online gaming company Zynga.

    *Source: Economist.com

    About Julep

    Founded in Seattle, Julep Beauty Incorporated is one of the fastest growing beauty brands. Julep was born from the belief that beauty is about connection; a celebration of the bond between girlfriends. Leveraging the expertise gained in their four boutique nail parlors in the Seattle area, Julep has created a line of the most effective, toxin-free beauty products and the latest limited-run nail colors. The wildly popular Julep Maven beauty subscription program features full sizes of Julep’s growing beauty products offerings, including skin care and color cosmetics. To further their mission of empowering and connecting women, Julep’s Powered by Girlfriends(TM) project donates a portion of proceeds from every sale to organizations that support women. For more information, please visit www.julep.com. Follow Julep: Twitter @JulepMaven / Facebook https://www.facebook.com/julep/ Pinterest http://pinterest.com/julepmaven/. http://www.youtube.com/watch?v=YJHb6Tgrla4

    About Andreessen Horowitz

    Andreessen Horowitz is a venture capital firm that provides seed, venture and growth-stage funding to the best new technology companies. Founded by Marc Andreessen and Ben Horowitz, Andreessen Horowitz helps entrepreneurs become successful CEOs and build important and enduring companies. Its investing partners are Marc Andreessen, Ben Horowitz, John O’Farrell, Scott Weiss, Jeff Jordan, Peter Levine and Chris Dixon, all widely recognized experts in the creation, scaling and operation of high growth technology companies. The firm has $2.7 billion under management across three funds. Among its 170 investments are Airbnb, Apptio, Box, Fab, Facebook, Foursquare, GitHub, Jawbone, Lytro, Pinterest, Quirky and Twitter. The firm was established in June 2009 and is located in Menlo Park, California. www.a16z.com

    About Maveron

    Maveron is a venture capital firm that invests exclusively in consumer companies. Founded in 1998 by Dan Levitan and Howard Schultz, the firm has offices in Seattle and San Francisco. Representative Maveron investments include Altius Education, eBay, Capella Education, General Assembly, Shutterfly, Trupanion and zulily. For more information about Maveron, visit www.maveron.com.

    The post Andreessen Horowitz Leads $10.3M Round for Beauty Brand Julep appeared first on peHUB.

  • Time Warner Cable executive claims consumers don’t want gigabit Internet

    Google Fiber Time Warner Cable
    Consumers have lined up for the gigabit speeds of Google’s high-speed Internet service, unfortunately it is only offered in Kansas City. The company has teased expanding the service to additional markets, but until then consumers are forced to rely on traditional cable companies for less than stellar speeds. Despite the success of Google Fiber, Time Warner Cable’s (TWC) chief financial officer Irene Esteves claimed consumers don’t want breakneck Internet speeds.

    Continue reading…

  • John Battelle Going Back To CEO Role At Federated Media

    Federated Media Publishing announced today that Deanna Brown is stepping down as CEO. Founder John Battelle ,who has been in an Executive Chairman role since handing over the CEO reins to Brown in early 2011, is reprising his role as chief executive.

    Battelle wrote about the decision on his blog. Following is just a snippet:

    So when Deanna told me earlier this year that she wanted – in a thoughtful and appropriate manner – to move on and do something smaller and more directly related to content creation, I immediately understood. As I said above – it’s alright to step away when the time feels right. We spent a month or more thinking about who might be best to replace her. FMP is a unique company – straddling the two fastest-growing sectors of the digital marketing world: Native content marketing, and programmatic platforms. There aren’t many executives who are fluent in both, and who also might be a cultural fit for a company as storied as this one.

    And then it hit me – quite literally in mid-sentence while on a Board call. Why the hell don’t I simply step back in? I love this company, I am passionate about the Independent Web, and to be honest, I see a huge opportunity in front of us. What am I, nuts? Why didn’t I think of it the moment Deanna told me of her decision?

    Under Brown, Federated Media grew its network to outrank Yahoo, AOL and Microsoft in audience reach, the company says, citing comScore data.

    Battelle founded Federated Media in 2005.

  • Facebook purchases Microsoft’s Atlas Solutions for reported $100 million

    Facebook has announced Thursday afternoon the purchase of Microsoft’s Atlas Solutions, giving the social network better tools to boost its advertising network as it continues to grow and to give businesses greater feedback on customer interaction with ads once those customers leave the site. Although the terms of the deal weren’t disclosed, CNBC’s Julia Boorstin reported the deal went for about $100 million.

    Facebook explained in a press release how the purchase will help the company understand the impact of its ads across the network:

    “Today’s marketing environment is much more complex than it was just a few short years ago. Marketers and agencies struggle to understand how their efforts across different channels complement and strengthen each other. Consequently, they are forced to adopt siloed marketing strategies for each channel, leading to poor and inconsistent end-user experiences.”

    A deal between Facebook and Microsoft had been speculated about before, with Kara Swisher at AllThingsD reporting that Facebook was debating a build-versus-buy approach, but was leaning toward buy. She reported that acquiring Atlas would give the company a head start on ad impressions despite technological challenges that would come with the acquisition.

    Facebook is working to grow its ad network, and Altas could help Facebook track users once they leave the site to see how effective the company’s ads really are. Microsoft acquired Atlas as part of its purchase of aQuantive for $6 billion in 2007. Dave O’Hara, CFO of Online Services Division at Microsoft, wrote in a blog post about the benefits for both companies in the deal:

    “Earlier today, Facebook and Microsoft announced a definitive agreement in which Facebook has agreed to acquire the Atlas Advertiser suite. This agreement will strengthen our existing partnership and also includes a long-term strategic commercial relationship. Having been deeply involved in this deal since day one, I can say with confidence that we are quite pleased with this outcome and are excited to continue building a deeper partnership between our two companies.”

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

  • Android phones OK with Department of Defense for top-secret information

    Android Security

    If you have seen one of Samsung’s recent zombie unicorn commercials for their Samsung Galaxy Note II, you may have noted the references to their SAFE standard for device security. Ensuring security on mobile devices is not just for enterprises that don’t want their latest game to leak to the public. Security issues take on a much more important role at the U.S. Department of Defense where top-secret information flows within the walls of the agency. It appears the Department of Defense is on the verge of changing a policy that limited secure mobile device approval to Blackberry devices and will open the door to some Android devices.

    According to reports, the door will not be opened to just any Android device. Instead, the Department of Defense is screening the devices that will be allowed with only top-tier devices appearing to make the cut. This is good news for Android device manufacturers like Samsung, HTC, LG, Sony, and Motorola and should encourage them to continue their efforts to implement strong, secure standards on their devices.

    Currently, the majority of mobile devices deployed by the Department of Defense are from Blackberry. However, the Department has been testing both Android and iOS devices to ensure soldiers and civilian staff have the latest and greatest technology available to them. Needless to say, this door opening is bad news for Blackberry as they struggle to stay alive in the market.

    source: Phandroid

    Come comment on this article: Android phones OK with Department of Defense for top-secret information

  • Eve Online Hits Half a Million Subscribers

    Today, Icelandic developer CCP Games announced that subscriptions for its Eve Online MMO have surpassed the 500,000 mark.

    Eve Online is the science fiction MMO that allows players to operate and own their own spaceships while participating in a player-created universe full of political intrigue and trade negotiations. Because of the game’s heavy reliance on trade and economics, it is often disparagingly (or lovingly) referred to as “spreadsheets in space.” Though the game isn’t free-to-play, players who have enough of Eve‘s in-game currency can purchase monthly subscriptions with it.

    “Ten years after release, it is incredibly inspiring that, through a lot of hard work from our Eve Online team, we are crossing the half-million subscriber mark,” said Hilmar Veigar Pétursson, CEO of CCP. “For me, this is a true testament that Eve can live on forever, as long as we do right by her. We have not come to this point alone; millions of players have helped push us to this milestone. I now know in my mind what I previously only believed in my heart: that Eve will outlive us all.”

    In January, CCP began an open beta on the PlayStation 3 console for its new game, Dust 514. Dust 514 is a free-to-play first-person shooter that shares the same world as Eve Online. Actions taken in either game can affect the economy, politics, and outcome of battles in the other.

  • Butter or Margarine? Well, It Depends [VIDEO]

    What is the difference between butter and margarine, and which one should I spread on my toast? Which one is healthier for me? Which one is better for sculpting giant busts of Paula Deen? Most of these questions, and more are answered in the following clip.

    [AsapSCIENCE]

  • Boxer-Sanders Carbon “Fee” Relies on Huge Bait-and-Switch

    A recent story in EnergyGuardian (sub. req’d) centered on Senator Sheldon Whitehouse’s (D-R.I.) support for the carbon “fee” bill introduced by his colleagues Sen. Barbara Boxer and Sen. Bernie Sanders. Fortunately, the newly-released NERA study gives us a quantitative estimate of how much their scheme would hurt the U.S. economy. The whole episode fulfills the warnings that many of us have been making during the carbon tax debate. Specifically, advocates of a carbon tax rely on a bait-and-switch, where they make wild promises about the alleged environmental benefits of a relatively modest tax rate. As the NERA study shows, however, if the tax rate is modest, the environmental impact is negligible, but if the rate is high enough to really reduce U.S. carbon dioxide emissions, the economic impacts are absolutely devastating.

    The Boxer-Sanders “Fee”: Bait-And-Switch

    The specific legislation proposed by Boxer and Sanders describes itself in this way:

    Price Carbon — While setting a long-term emissions reduction goal of 80 percent or more by 2050 as science calls for, the legislation would enact a carbon fee of $20 per ton of carbon or methane equivalent, rising at 5.6% a year over a ten-year period….The Congressional Budget Office estimates this step alone could raise $1.2 trillion in revenue over ten years and reduce greenhouse gas emissions approximately 20 percent from 2005 levels by 2025. Additional emissions reduction under this legislation would occur as a result of the energy investments, and ongoing efforts by the EPA and a number of states. [Bold added.]

    Now the part I have put in bold is crucial, and it epitomizes exactly what I was saying in my post about the new NERA study. The proponents of a carbon tax (or “fee” as Boxers and Sanders are euphemistically calling it) want to have their cake and eat it too. On the one hand, they point to the “settled climate science” to show why a drastic and aggressive reduction in U.S. emissions is extremely important.

    On the other hand, they know that most Americans would never support the policies necessary to actually achieve such aggressive reductions. Therefore, the proponents of a carbon tax do what Boxer and Sanders have done in the block quote above: They point to a relatively modest carbon tax level, which will only cause mild suffering for lower-income households and workers.

    But since this level of the carbon tax won’t achieve the allegedly necessary emissions reductions, they then tell a magic-bullet story about using the proceeds of the carbon tax to fund all sorts of new technologies that will then render conventional energy production obsolete. That’s how they can sell the whole package to Americans as (a) achieving the drastic emission cuts by 2050 that they say are necessary, while (b) not imposing the carbon taxes upfront that the same models say are necessary to achieve part (a).

    What Does NERA Say About an 80 Percent Reduction?

    A new study by NERA Economic Consulting, prepared for the National Association of Manufacturers (NAM), perfectly describes the impacts on the US economy from the two “endpoints” of the Boxer/Sanders bait-and-switch. In other words, if the government really does stick to just a modest tax that rises gently over time, then the NERA study tells us the outcome. On the other hand, if the carbon tax gets its foot in the door, and then the hoped-for innovations in “clean energy” don’t materialize so that future policymakers jack up the carbon tax, then the NERA study shows how bad the economic hit would be in order to achieve an 80 percent emission reduction.

    The following diagram from the NERA study shows the trajectory of the carbon tax over time, in the two scenarios:

     

    NERA.Carbon.Tax.Table-1.600

    In my earlier blog post, I walked through more of the NERA study’s details, but in this post let me just reiterate two of its most important tables. The first one below (Figure 3) shows the impact on workers from the two possible carbon tax scenarios:

     NERA.Carbon.Tax.Table-3.Highlights.600

    Thus we see, for example, that the more aggressive carbon tax scenario implies a long-run average worker income loss of the equivalent of 1.26 million full-time jobs, while in year 2053 (when the carbon tax reaches its peak) the impact is a staggering hit to worker income of 20.67 million jobs. (In my earlier post I explain what the “job-equivalents” phrase means in this context.)

    Finally, consider the effect of the two carbon tax scenarios on various energy prices:

     

    NERA.Carbon.Tax.Table-5.Highlights.600

    In particular, the 80% reduction case shows drastic increases in electricity and gasoline prices in the coming decades, should the US government seriously try to meet the emission reduction targets that many groups are proposing as “sensible climate policy.” By 2053, the NERA study anticipates residential electricity prices having risen 42 percent relative to the baseline, and gasoline prices at a whopping $14.57 per gallon (compared with $5.51 in the no-tax baseline, because of rising crude market prices).

    Note that this figure means there will be a tax of $9.06 cents per gallon, or $135 worth of tax for a 15-gallon fill up. Even if automakers can meet the new federal regulations that double fuel efficiency, the one-two punch of the economic dislocation of higher energy prices on businesses and families and the fact that such prices will price many out of personal transportation means there will be a huge number of feet pounding the pavement. (If there still is pavement, since asphalt is carbon based and cement uses enormous amounts of energy.) I can guarantee they will not be happy feet.

    Conclusion

    There are all sorts of proposals floating around on how many goodies the government could get, by taxing carbon. Recall the McDermott proposal from last summer, which would cause trillions of dollars of economic damage, over and above the theoretical benefits from reduced climate change, even according to the conventional models devised by people who support a carbon tax.

    With the Boxer-Sander proposal, things are much more clever. First, they call it a “fee” because nobody likes the t-word. Secondly, they propose a relatively modest carbon tax rate, so that official analyses will show only modest energy price hikes and lost income. They assume that this modest nudge in the right direction will then kick off a wave of innovation in “clean energy” developments, because otherwise the US won’t come anywhere near the emissions reductions their own models say are absolutely critical.

    Policymakers and the general public need to know all of the facts before making an informed decision on these weighty matters. When someone says the US needs 80 percent emissions reductions by 2050, and then touts a new “carbon fee” that will, according to their numbers, only achieve reduction of 20 percent in emissions by 2025, we should all be suspicious.

    Proponents of a carbon tax should be straightforward with their presentation. If their plan is to tax the US into compliance with their emissions goals, then they should explain what their own models say will be necessary. (President Obama admitted as much in 2008.) Since they realize that the American public will never support such high tax rates, they should think of a different strategy, rather than using a bait-and-switch that won’t work, even on their own terms.

  • Sagent Promotes Three Executives

    Sagent Advisors said Thursday that Will Carnell, Sarah Forcino and Katie Kieran were each promoted to the position of VP. Carnell joined Sagent in 2009 and focuses in the packaging, capital goods and multi-industry sectors. Forcino has been with Sagent since 2007 and focuses on the execution of mergers and acquisitions and alternative capital markets transactions across multiple industries. Kieran joined Sagent in 2009 and is a member of the firm’s financial sponsors team.

    PRESS RELEASE

    Sagent Advisors, LLC announced today that Will Carnell, Sarah Forcino and Katie Kieran have been promoted to the position of Vice President.

    “Will, Sarah and Katie have been significant contributors since coming to Sagent,” said Hal Ritch, Sagent’s Chief Executive Officer. “We are proud to be represented by such talented and dedicated colleagues and congratulate them on their well-earned promotions.”

    Mr. Carnell joined the firm in 2009 and focuses in the packaging, capital goods and multi-industry sectors. Prior to joining Sagent, he was a senior associate at PricewaterhouseCoopers. He earned a BS in Economics and Finance from Vanderbilt University and received his MBA from The Goizueta Business School at Emory University.

    Ms. Forcino has been with Sagent since 2007 and focuses on the execution of mergers and acquisitions and alternative capital markets transactions across multiple industries. She graduated from the University of Pennsylvania with a BS in Economics from the Wharton School and a BA in Hispanic Studies from the College of Arts and Sciences.

    Ms. Kieran joined Sagent in 2009 and is a member of the firm’s financial sponsors team. Prior to Sagent, she was a senior performance analyst at Fidelity Investments. She earned a BS from Boston College and received an MBA from the Wharton School of the University of Pennsylvania.

    Who We Are
    Sagent Advisors is an independent investment banking firm that provides financial advisory and capital raising solutions to clients on mergers, acquisitions, sales and restructurings. Sagent provides broad industry and execution expertise through its offices in the U.S. in New York, Charlotte, Chicago, San Francisco and Tysons Corner, Virginia. Our significant global reach is bolstered through our alliances with Daiwa Securities Capital Markets in Asia and DC Advisory in Europe. At Sagent, we embody the principles of thoughtful advice – free of structural conflicts – with dedicated, senior attention to our clients’ most important challenges and opportunities.

    The post Sagent Promotes Three Executives appeared first on peHUB.

  • CardioKinetix Completes $48 Million Series E Round

    CardioKinetix, a Menlo Park, Calif.-based medical device company, has completed the $23 million second-tranche of its Series E financing, bringing the total round to $48 million. Panorama Capital is the company’s newest investor. It joins previous investors U.S. Venture Partners, JPMorgan Partners, New Leaf Venture Partners, SV Life Sciences, H&Q Healthcare Investors, and H&Q Life Sciences Investors.

    PRESS RELEASE:

    CardioKinetix Inc., a medical device company pioneering a catheter-based treatment for heart failure, announced today that it has completed the $23 million second-tranche of its Series E financing, bringing the total financing round to $48 million. Panorama Capital has newly joined the Company’s investor group of U.S. Venture Partners, JPMorgan Partners, New Leaf Venture Partners, SV Life Sciences, H&Q Healthcare Investors HQH -1.65% , and H&Q Life Sciences Investors HQL -0.63% .

    This financing follows the Company’s achievement of several recent milestones including the treatment of more than 100 patients with the Parachute(R) device, enrollment in PARACHUTE IV, the Company’s U.S. randomized pivotal trial, initiation of European commercialization, and receipt of a dedicated German reimbursement code.

    “This financing allows us to further advance our programs to bring Parachute therapy to heart failure patients around the world,” said Maria Sainz, President and CEO of CardioKinetix Inc.

    “The combination of the heart failure market size, the growth of structural heart procedures, and the elegant design of the Parachute is a very attractive investment for our firm and we are excited to join the other investors and support CardioKinetix,” said Rod Ferguson, Managing Director and co-founder of Panorama Capital.

    About Heart Failure

    Heart failure is a common, debilitating, and potentially deadly condition in which the heart is unable to supply sufficient blood flow to meet the needs of the body. Symptoms of heart failure negatively impact quality of life and include shortness of breath, persistent coughing or wheezing, buildup of excess fluid in body tissues (edema), fatigue, lack of appetite or nausea, impaired thinking, and increased heart rate. More than 20 million people around the world are affected, with approximately six million in the United States, where it is responsible for 1.1 million hospitalizations annually.(1)

    About the Parachute(R) Ventricular Partitioning Device

    The first-of-its-kind Parachute Ventricular Partitioning Device is a minimally invasive treatment for patients with heart failure caused by damage to the heart muscle following a heart attack. Clinical data demonstrates improved overall cardiac function and quality of life for patients treated with the Parachute device.

    Through a small catheter inserted in the femoral artery, the Parachute implant is deployed in the left ventricle to partition the damaged muscle, excluding the non-functional heart segment from the healthy, functional segment to decrease the overall volume of the left ventricle and restore its geometry and function. This minimally invasive procedure is performed in the catheterization laboratory under conscious sedation.

    The Parachute Ventricular Partitioning Device has received CE Mark. In the U.S., the Parachute system is an investigational device limited by federal law to investigational use only and is not available for sale.

    About CardioKinetix Inc.

    CardioKinetix, based in Menlo Park, Calif., is pioneering the catheter-based Parachute(R) Ventricular Partitioning Device for heart failure. Privately held, the company is backed by SV Life Sciences, New Leaf Venture Partners, U.S. Venture Partners, JPMorgan Partners, Panorama Capital, H&Q Healthcare Investors, and H&Q Life Sciences Investors. For more information please visit www.cardiokinetix.com.

    The post CardioKinetix Completes $48 Million Series E Round appeared first on peHUB.

  • Sprint LG Optimus G Finally Receiving Jelly Bean

    sprint_lg_optimus_g_jelly_bean_rollout

     

    The Sprint LG Optimus G is getting a nice upgrade to Jelly Bean with numerous reports of the update rolling out to owners. While it’s only been a little over three months since the phone’s release, Jelly Bean has been available on devices as early as July 2012. The LG Optimus G on the other hand, launched on Sprint’s network back in November running Android 4.0.4 Ice Cream Sandwich. There is no official word from Sprint if it’s a large or more gradual roll-out, but you can see if you have the update right now by navigating to your settings and selecting “About Phone” and looking for the software update from there. If you do manage to grab the update, you’ll finally get upgraded to 4.1.2 Jelly Bean. If not, then sit tight as you will probably get the update eventually.

    Source: Phandroid

    Come comment on this article: Sprint LG Optimus G Finally Receiving Jelly Bean