| A unit of Japan's Panasonic Corp is under investigation by U.S. authorities looking at whether the company paid bribes overseas to airline employees or government officials to help land business, the Wall Street Journal reported. Citing company documents, the Journal said Panasonic Avionics had received a subpoena looking for communications between Panasonic Avionics, consultants and others. The subpoena also asked for documents related to payments to the airline employees and government officials, the newspaper said. The Panasonic unit, which is headquartered in Lake Forest, California, makes in-flight entertainment and communications systems. According to the Journal, notices were sent to executives and employees in Asia, Europe and the Middle East. The Journal said it was not clear which U.S. agency is investigating the unit. But the U.S. Foreign Corrupt Practices Act is enforced by the U.S. Department of Justice and the Securities and Exchange Commission. A Panasonic Avionics spokesman told Reuters that the company does not comment on government investigations. The SEC and the Justice Department could not immediately be reached for comment. |
Panasonic product in US. bribery analysis.: WSJ
Update Info: BrightNest leads iOS Apps of the Week
With warmer weather means it's time to get those to-do lists back out, and in this week we've got just the app to help. Home Maintenance by BrightNest will lead you into a number of household chores and help make sure you do them to the utmost satisfaction. Our other top apps are a little less work-intensive – they include an official app for The Colbert Report, an living scrapbook app, an app on Scotland's wildlife and a stylish calculator app.
Home Maintenance by BrightNest (Free)
Fixing up your home doesn't have to be a chore with Home Maintenance by BrightNest. The app can help you schedule tasks when it's convenient for you, send helpful reminders for upcoming chores, and even give you customized tips for the tasks you're trying to accomplish. Among the many things BrightHouse can assist you with are changing air filters, chalkboard paint ideas, unclogging showerheads, inspecting attics and basements, and cleaning a microwave with lemon. The app also syncs with the projects you've scheduled through BrightNest.com.
Also on Appolicious
The Indianapolis 500 is one of the world's oldest auto races. You can learn more about the cars and the people who race them thanks to this Guest Post from Zinio.
The Colbert Report (Free)
Comedy Central's faux news program The Colbert Report finally has an app and although it's short on exclusive features, fans of the show should enjoy its ability to catch them up on segments they missed. Although full episodes are not available via the app, The Colbert Report does feature select videos from the show as well as a listing of classic segments sorted by quotes. A browsable archive of videos is also available in app and users can even set reminders for when the show airs so they'll never miss it again. Videos can even be shared via Facebook, Twitter, text or email.
Rego - Bookmark your favorite places (Free)
Rego lets you bookmark places on a private map that only you can see with more than just a red pushpin. You can document where they've been with photos and notes, like a living digital scrapbook, and also bookmark places you haven't been. Note that while Rego is free to download (and lets you pin 10 places for free) the price for unlimited pinning is $0.99.
Scotland's Big 5 (Free)
Did you know that Scotland was known in part for its exotic wildlife? I certainly did not. But Scotland's Big 5 has changed all that. The app features photography, video, audio and facts on Scotland's big five species. You'll learn more about the golden eagle, harbour seal, red deer, red squirrel and otter than you ever thought possible.
Llumino ($1.99)
Llumino is the calculator app you can probably do without. Feature-wise, it doesn't reinvent calculator apps in any way. It does archive the past 100 results in its history and its 10-digit display is robust, but where Llumino shines is in its design. It is a very nice looking calculator app. Its buttons, design and coloring give Llumino a look all its own. Is that enough to pay $1.99 for a new calculator app? Many would say no, but those who value style and design might find an app worth adding to their collection here.
Banks score major win in private Libor suits
| NEW YORK (Reuters) - The world's biggest banks won a major victory on Friday when a U.S. judge dismissed a "substantial portion" of the claims in private lawsuits accusing them of rigging global benchmark interest rates. The 16 banks had faced claims totaling billions of dollars in the case, which had been considered the biggest legal threat that they faced aside from investigations being pursued by regulators in the United States, Europe and Britain. The banks include: Bank of America Corp , Citigroup Inc , Credit Suisse Group AG , Deutsche Bank AG , HSBC Holdings PLC , JPMorgan Chase & Co , Royal Bank of Canada , Royal Bank of Scotland and WestLB AG . They had been accused by a diverse body of private plaintiffs, ranging from bondholders to the city of Baltimore, of conspiring to manipulate the London Interbank Offered Rate (Libor), a key benchmark at the heart of more than $550 trillion in financial products. In a significant setback for the plaintiffs, U.S. District Judge Naomi Reice Buchwald in Manhattan granted the banks' motion to dismiss federal antitrust claims and partially dismissed the plaintiffs' claims of commodities manipulation. She also dismissed racketeering and state-law claims. Buchwald did allow a portion of the lawsuit to continue that claims the banks' alleged manipulation of Libor harmed traders who bet on interest rates. Small movements in those rates can mean sizable gains or losses for those gambling on which way the rates move. The ruling comes at a time when the banking industry is facing legal and regulatory challenges on multiple fronts, including how they originated and sold mortgage loans, as well as questions of whether some have become so big they pose a systemic risk to the global financial system. While the door was left open for private litigants to refile lawsuits, Buchwald's decision may make it more likely that banks will talk settlement with a significant win in their pocket. The decision also could cast doubt on some of the highest analyst projections about potential Libor damages, and quell some concerns that the banks have not reserved enough for litigation expenses. The judge's decision comes amid a sprawling regulatory probe in the United States, UK and Europe that has resulted in three banks — Royal Bank of Scotland Group Plc, Barclays Plc and UBS AG — agreeing to a $2.6 billion settlement. More banks are expected to settle in the coming months. Those settlements yielded a trove of internal bank emails that Judge Buchwald said could be used if the plaintiffs want to revise their claims. As of March 5, at least 22 lawsuits had been consolidated before Buchwald. Several had sought class action status. Others such as Charles Schwab Corp were asserting claims directly on their own behalf. In a 161-page opinion, Buchwald said she recognized her ruling might be a surprise since several defendants had paid billions of dollars in penalties to government regulatory agencies. "We recognize that it might be unexpected that we are dismissing a substantial portion of plaintiffs' claims, given that several of the defendants here have already paid penalties to government regulatory agencies reaching into the billions of dollars," the judge said. But she said unlike government agencies, private plaintiffs needed to meet many requirements under the statutes to bring a case. "Therefore, although we are fully cognizant of the settlements that several of the defendants here have entered into with government regulators, we find that only some of the claims that plaintiffs have asserted may properly proceed," she wrote. Michael Hausfeld, a lawyer for the plaintiffs, noted the judge had granted the parties the ability to amend and refile their lawsuit. "We have the decision under evaluation," he said. "We are considering filing an amended complaint or taking an appeal, but we haven't decided yet." Representatives for the various banks either declined comment or did not immediately respond to requests for comment. ALLEGED MANIPULATION The plaintiffs' lawsuits, like the regulatory probes, center on the way the London interbank offered rate is set—and whether the plaintiffs were harmed by the alleged manipulation of Libor. Libor, a family of benchmark rates, is set every day in London by a panel of international banks. Banks submit what it costs to borrow from one another for durations ranging from overnight to one year. The rate underpins hundreds of trillions of dollars of investments and trades. The plaintiffs alleged that the banks on the Libor panel conspired to send in artificial rates. Three banks have reached settlements with authorities to date. Most recently, Royal Bank of Scotland agreed to pay $612 million to U.S. and British authorities. UBS agreed in December to pay $1.5 billion. Barclays agreed to pay $453 million in June. The three settlements appeared to do little in convincing Judge Buchwald that the plaintiffs' case should proceed. But the judge left the door open for the plaintiffs to use information that has emerged in the regulatory settlements. In the Barclays case, for example, one trader asked another to submit a three-month dollar Libor rate of 5.36 percent or higher. The next day, Barclays' submission was 5.36 percent. "Because the Barclays settlements brought to light information that plaintiffs might not previously have been able to learn, we grant plaintiffs leave to move to amend their complaint," she said. The cases are In Re: Libor-Based Financial Instruments Antitrust Litigation, U.S. District Court for the Southern District of New York, No. 11-md-2262. |
New Windows 8 hardware guidelines suggest 7-inch Windows tablets on the way
One thing has been missing from Microsoft's (MSFT) foray into the tablet world so far: A cheaper, smaller tablet that can go toe-to-toe with the Kindle Fire HD and the iPad mini. ZDNet reports that recent changes to Windows 8 hardware certification guidelines suggest that Microsoft is giving OEMs more freedom to make 7-inch tablets since "the new guidelines relax the minimum resolution for Windows 8 devices to 1024 x 768 at a depth of 32 bits." ZDNet says that OEMs need to justify to Microsoft why they're using lower resolutions, however, so it doesn't give them carte blanche to release big-screen devices that have inferior displays. Microsoft said in releasing the guidelines that "partners exploring designs for certain markets could find greater design flexibility helpful," so it certainly sounds as though we'll be seeing some low-cost Windows 8 tablets in the near future.
Drone industry worries about privacy backlash
| WASHINGTON (AP) — It's a good bet that in the not-so-distant future aerial drones will be part of Americans' everyday lives, performing countless useful functions. A far cry from the killing machines whose missiles incinerate terrorists, these generally small, unmanned aircraft will help farmers more precisely apply water and pesticides to crops, saving money and reducing environmental impacts. They'll help police departments find missing people, reconstruct traffic accidents and act as lookouts for SWAT teams. They'll alert authorities to people stranded on rooftops by hurricanes and monitor evacuation flows. Real estate agents will use them to film videos of properties and surrounding neighborhoods. States will use them to inspect bridges, roads and dams. Oil companies will use them to monitor pipelines, while power companies use them to monitor transmission lines. With military budgets shrinking, drone makers have been counting on the civilian market to spur the industry's growth. But there's an ironic threat to that hope: Success on the battlefield may contain the seeds of trouble for the more benign uses of drones at home. The civilian unmanned aircraft industry worries that it will be grounded before it can really take off because of fear among the public that the technology will be misused. Also problematic is a delay in the issuance of government safety regulations that are needed before drones can gain broad access to U.S. skies. Some companies that make drones or supply support equipment and services say the uncertainty has caused them to put U.S. expansion plans on hold, and they are looking overseas for new markets. "Our lack of success in educating the public about unmanned aircraft is coming back to bite us," said Robert Fitzgerald, CEO of The BOSH Group of Newport News, Va., which provides support services to drone users. "The U.S. has been at the lead of this technology a long time," he said. "If our government holds back this technology, there's the freedom to move elsewhere ... and all of a sudden these things will be flying everywhere else and competing with us." Since January, drone-related legislation has been introduced in more than 30 states, largely in response to privacy concerns. Many of the bills are focused on preventing police from using drones for broad public surveillance, as well as targeting individuals for surveillance without sufficient grounds to believe they were involved in crimes. Law enforcement is expected to be one of the bigger initial markets for civilian drones. Last month, the FBI used drones to maintain continuous surveillance of a bunker in Alabama where a 5-year-old boy was being held hostage. In Virginia, the state General Assembly passed a bill that would place a two-year moratorium on the use of drones by state and local law enforcement. The measure is supported by groups as varied as the American Civil Liberties Union on the left and the Virginia Tea Party Patriots Federation on the right. Gov. Bob McDonnell is proposing amendments that would retain the broad ban on spy drones but allow specific exemptions when lives are in danger, such as for search-and rescue operations. The legislature reconvenes on April 3 to consider the amendments. "Any legislation that restricts the use of this kind of capability to serve the public is putting the public at risk," said Steve Gitlin, vice president of AeroVironment, a leading maker of smaller drones, including some no bigger than a hummingbird Seattle abandoned its drone program after community protests in February. The city's police department had purchased two drones through a federal grant without consulting the city council. Drones "clearly have so much potential for saving lives, and it's a darn shame we're having to go through this right now," said Stephen Ingley, executive director of the Airborne Law Enforcement Association. "It's frustrating." In some states economic concerns have trumped public unease. In Oklahoma, an anti-drone bill was shelved at the request of Republican Gov. Mary Fallin, who was concerned it might hinder growth of the state's drone industry. The North Dakota state Senate killed a drone bill in part because of concern that it might impede the state's chances of being selected by the Federal Aviation Administration as one of six national drone test sites, which could generate local jobs. A bill that would have limited the ability of state and local governments to use drones died in the Washington legislature. The measure was opposed by The Boeing Co., which employs more than 80,000 workers in the state and which has a subsidiary, Insitu, that's a leading military drone manufacturer. Although the Supreme Court has not dealt directly with drones, it has OK'd aerial surveillance without warrants in drug cases in which officers in a plane or helicopter spotted marijuana plants growing on a suspect's property. But in a case involving the use of ground-based equipment, the court said police generally need a warrant before using a thermal imaging device to detect hot spots in a home that might indicate that marijuana plants are being grown there. In Congress, Rep. Ed Markey, D-Mass., co-chairman of the House's privacy caucus, has introduced a bill that prohibits the Federal Aviation Administration from issuing drone licenses unless the applicant provides a statement explaining who will operate the drone, where it will be flown, what kind of data will be collected, how the data will be used, whether the information will be sold to third parties and the period for which the information will be retained. Sentiment for curbing domestic drone use has brought the left and right together perhaps more than any other recent issue. "The thought of government drones buzzing overhead and constantly monitoring the activities of law-abiding citizens runs contrary to the notion of what it means to live in a free society," Sen. Charles Grassley, R-Iowa, said at a recent hearing of the Senate Judiciary Committee. Privacy advocates acknowledge the many good uses of drones. In Mesa County, Colo., for example, an annual landfill survey using manned aircraft cost about $10,000. The county recently performed the same survey using a drone for about $200. But drones' virtues can also make them dangerous, they say. Their low cost and ease of use may encourage police and others to conduct the kind of continuous or intrusive surveillance that might otherwise be impractical. Drones can be equipped with high-powered cameras and listening devices, and infrared cameras that can see people in the dark. "High-rise buildings, security fences or even the walls of a building are not barriers to increasingly common drone technology," Amie Stepanovich, director of the Electronic Privacy Information Council's surveillance project, told the Senate panel. Civilian drone use is limited to government agencies and public universities that have received a few hundred permits from the FAA. A law passed by Congress last year requires the FAA to open U.S. skies to widespread drone flights by 2015, but the agency is behind schedule and it's doubtful it will meet that deadline. Lawmakers and industry officials have complained for years about the FAA's slow progress. The FAA estimates that within five years of gaining broader access about 7,500 civilian drones will be in use. Sen. Rand Paul, R-Ky., recently drew attention to the domestic use of drones when he staged a Senate filibuster, demanding to know whether the president has authority to use weaponized drones to kill Americans on American soil. The White House said no, if the person isn't engaged in combat. But industry officials worry that the episode could temporarily set back civilian drone use. "The opposition has become very loud," said Gitlin of AeroVironment, "but we are confident that over time the benefits of these solutions (drones) are going to far outweigh the concerns, and they'll become part of normal life in the future." |
Sweden Isn't Happy About Google Trying to Control Its Official Language
| Google recently got into a row with the Swedish Language Council over a new word in its official language: "ogooglebar" which means "ungoogleable." Google complained about the word, which the council then begrudgingly deleted from the Swedish language. The Swedes did vow to continue using the word in conversation, those rebels. The Swedish Language Council had included ogooglebar on its annual list of new words that have entered common parlance. It's a fun list that includes words like "brony" and "mossgraffiti" — which is awesome, by the way. Google's objections were actually two-fold. Not only did it remind the council that Google was a registered trademark, the company also ask that the council to revise word's definition to specify that it referred to Google searches. It had been defined as something "that cannot be found on the Web with a search engine." But the Swedes simply deleted the word from the list and included a note at the bottom that expressed their "displeasure with Google's attempts to control the language." Later, Ann Cederberg, head of the council, declared, "If we want to have ogooglebar in the language, then we'll use the word and it's our use that gives it meaning — not a multinational company exerting pressure. Speech must be free!" It sounds like a classic trademark dispute, but it's hard not to wonder how irked Google was over an official word that highlighted the shortcomings of its marquee product. After all, the company didn't put up a fuss in 2003, when the Swedish Language Council added the verb "googla" — that's Swedish for "Google," obviously — to its list. Why would they care a decade later, when Sweden adds the same word but with a prefix and suffix? "While Google, like many businesses, takes routine steps to protect our trademark, we are pleased that users connect the Google name with great search results," a Google spokesperson explained vaguely. Google is apparently less pleased when users connect the name Google with non-existant search results. |
Mike Dell's former lieutenant leads coup attempt
| Dave Johnson finds himself once again pitted against a former employer. In leading Blackstone Group's 11th-hour bid for Dell Inc, the acquisitions expert and famously tough negotiator has seated himself across the table from ex-boss and company founder Michael Dell. Their relationship has now become a crucial element in the battle over the largest private equity-led buyout since the financial crisis. There may even be echoes of the way Nabisco Brands President John Greeniaus ended up switching sides from RJR Nabisco's CEO Ross Johnson in the struggle for control of the food and tobacco conglomerate in the leveraged buyout boom of the late 1980s. Blackstone's Johnson, a former IBM executive with a reputation for working through the night rather than early in the day, may be joining the party late. But he could still up-end Michael Dell's original proposal to take the company private for $24.4 billion. Whether the two former confidants can work together may decide the fate of the world's No. 3 PC maker. The soft-spoken Red Sox and New England Patriots fan is described by people who have known him for a long time as likeable, smart and loyal. But that loyalty has been questioned twice as he has headed for the exits under controversial circumstances - once after more than 27 years at IBM, and then when he left Dell. IBM unsuccessfully sued Johnson when he departed in 2009, alleging he violated a non-compete agreement. Now Michael Dell - who told his executive team that Johnson would remain a close and personal adviser when he left to join Blackstone in January - is fighting to hold onto his company against a bid mounted by Blackstone less than three months later. Blackstone has not mentioned a role for his former boss. "For all the good he does in an organization, the exit always seems to burn him," said a person close to Johnson. "There was a lot of goodwill (at IBM) but in the last two minutes, he completely erases 25 years of history. Same thing at Dell." The stakes are high for both men. Michael Dell could lose control of a company he nursed from a dorm-room operation into a global personal computer maker. He doesn't only have Blackstone breathing down his neck but has to also contend with a competing offer from billionaire investor Carl Icahn. Meanwhile, Johnson's first deal could be one of the most ambitious in technology for Blackstone in years. Among people who know Michael Dell and Johnson, there is little agreement about how well the two men get along now. The relationship was still close when Johnson, who led some $10 billion worth of deals during his time at Dell, worked to bolster the company's non-PC-making businesses in areas such as software and enterprise services. Johnson was said to have weighed the offer from Blackstone for a while before taking the plunge, one of the people said. Three others said Johnson left Dell alienated, and that some members of top management were unhappy with his track record and had few qualms about letting him leave for the world's largest private equity firm. "Dave came into Dell as a change agent. Change agents have a tough job, and their job is to break glass," one of these people said. "And sometimes where you are breaking glass, people don't like what you are doing." A spokesman for Michael Dell declined to comment, while a Blackstone spokesman declined to comment on behalf of Johnson. A Dell Inc spokesman also declined to comment. WHEELING AND DEALING During more than three years at the Texas-based computer maker, Johnson oversaw 18 to 20 acquisitions, according to a Dell spokesman. He reported directly to Michael Dell. People who know him say Johnson is more comfortable wheeling and dealing in smaller settings, less at ease in the spotlight of major presentations such as Dell's analysts' day. He was also known for keeping late hours. "You can ask anyone at IBM," one of the people said. If Johnson's assistant scheduled a meeting early in the morning it probably "wasn't going to happen," this person said. Johnson oversaw the 2009 purchase of Perot Systems Corp, which catapulted Dell into the technology services market alongside IBM and HP. Other deals during his tenure included Quest Software, SecureWorks, SonicWall Inc and Wyse Technology. At Dell, Johnson was brought in to help beef up the company's enterprise-related portfolio and diversify away from its reliance on PCs. To that end, Johnson went on an acquisition spree for small to mid-size companies. A big believer in the proper integration of acquired companies, Johnson often told team members that "the real success of a transaction is in the integration." The 61-year old brought discipline and rigor to Dell's M&A machine, instituting a playbook that aimed to standardize the M&A and integration process, one of the people said. That playbook, for example, had templates for documents and contained a list of internal subject-matter experts. While Johnson's strategy helped Dell expand its portfolio and reduce its reliance on PCs, the strategy was also criticized for being slow to offset a decline in PC sales and for failing to integrate the acquired companies fully with Dell to take advantage of scale. But Carr Lanphier, analyst with Morningstar, said it is too early to tell whether Johnson's term at Dell was a success as his effort at diversification is not complete. When Johnson joined Blackstone, the private equity giant had been looking for ways to bolster its technology team after having suffered a couple of dealmaker losses. These included Chip Schorr, who left Blackstone in 2010 after serving as its global head of technology investing. Johnson is working on Dell with Chinh Chu, one of Blackstone's most experienced partners, who has been carrying out transactions for the firm since 1990. Blackstone has reached out to a number of candidates who could run Dell should its bid succeed, replacing Michael Dell. Sources involved in the fast-evolving discussions said Michael Dell and Johnson have competing visions for the company. Two people close to Michael Dell have said he was concerned that Blackstone's buyout offer would dismantle the PC maker. Other people familiar with the situation have said Blackstone has considered a potential sale of Dell's financial services business as part of a strategy to turn things around. Divestitures are not part of the plans by Michael Dell and his buyout partner, the private equity firm Silver Lake, two of the sources said. |
How to Kick-Start Innovation with Free Data
| WASHINGTON, D.C.— Government-funded projects have yielded a wealth of information, but much of this data has historically remained locked up in difficult-to-use form. To get this data to people who might start businesses with them, the Obama administration created the position of chief technology officer. Todd Park, the nation's current CTO, has plenty of innovation experience. In 1997, at the age of 24, he co-founded his first start-up, called Athenahealth, which provides online data management for physicians. After momentarily retiring to focus on his family he set up two other start-ups before joining the White House team four years ago. At a media briefing in February he talked about getting government data into the hands of entrepreneurs to spark innovation and economic growth. You're an entrepreneur who helped launch three successful health-tech start-ups. How did you end up working for the U.S. government? In the summer of 2009 I got an e-mail from the U.S. Department of Health and Human Services (HHS) asking about my becoming its chief technology officer. My first question was: Why are you talking to me? Because I don't know anything about government. I didn't serve at any level. But they said, it's actually your background as someone who's not in government, who's been a health-tech entrepreneur. In March 2012 you became the chief technology officer of the U.S. What do you as the nation's CTO? It's a position the president established for the first time in his first term in office. I'm the second CTO, after Aneesh Chopra. The gist of the job is that I run an incubator inside the government. It's not birthing companies; it's birthing projects that all have the common denominator of unleashing the power of tech to advance the president's programs, whether that's job creation, economic growth, improved outcomes in health care, education, public safety or energy. How does the incubation work? One category of projects is the Open Data Initiative program. This set of initiatives aims to liberate data from the vaults of the government to spur entrepreneurship, innovation and scientific discovery. A lot of data has been made public, but in unusable form, like books or pdfs or static Web sites. So the notion is to make them available as bulk downloadable files, as APIs [application protocol interfaces], so that you can actually use this stuff to create value. It was inspired by what the government did in prior eras, when it opened up weather data decades ago, making the data downloadable electronically by anyone, for free. What happened once U.S. weather data became freely available? Entrepreneurs picked it up and turned it into the Weather Channel, weather.com, weather apps, weather insurance--all which grew the economy, created jobs and improved our lives all at the same time. GPS is similar story. Beginning the 1980s Pres. Ronald Reagan began the process of opening the GPS system for civilian and commercial access, which was completed under Pres. Bill Clinton. The access has spawned an incredible array of innovations by American entrepreneurs ranging from navigation systems to precision crop farming to location-based apps. In fact, it's estimated that last year alone civilian and commercial access to GPS added $90 billion in annual value to the U.S. economy. And the number keeps growing. So this is a play that gets the president and us very excited. Without legislation, without regulation, without incremental expenditure of taxpayer capital, you're basically taking data—information resources that taxes have already paid for—and you're jujitsuing it, if you will, into the public domain as fuel for entrepreneurs to pick up and turn into awesomeness. How much data is there in the government? The thing that's really amazing to me is that weather and GPS are just the tip of the iceberg. The analogy we use is the last scene of Raiders of the Lost Ark, where they are in a giant warehouse wheeling in a box that has the latest treasure. That's a really good metaphor for the data treasures that are held in the vaults of the government—data which taxpayers have paid for and which we should give back to them. We're focusing on six sectors in particular: health, energy, education, public safety, global development and finance. How do you get innovators and entrepreneurs involved in the process? We do these "Datapaloozas," where folks get together to learn more about the data that's available and to showcase what entrepreneurs have done with them. Just to show you how fast this can go, we actually started this effort when I was at HHS with something called Healthy Initiative in 2010. We kicked it off by inviting 45 very skeptical entrepreneurs into a room and saying, "Here's a bunch of data we have. What do you think?" Ninety days later 20-plus new innovations were showcased. It not only inspired entrepreneurs to do innovations of their own but also inspired people who own data inside the government to realize the value of putting it out there. Two years later in June 2012 we had a Health Datapalooza that drew 1,600 entrepreneurs—and several hundred entrepreneurs who were angry they couldn't get in. What were some of the products that were showcased at the Health Datapalooza? Two hundred and thirty–plus companies had gone through an American Idol–style contest for the right to present. Most of these companies have been founded in the last 18 to 24 months, all leveraging open data to actually do something remarkable in health care. An example is Pete Hudson, who started a company called iTriage. The mobile app took a bunch of data around where all the doctors are, like GPS for health care providers. As a user, you can punch in your symptoms and it tells you based on the GPS and the data you punched in who the best local providers are that can help you. It's been downloaded nine million times and has literally saved people's lives. Do you keep track of how the data is used? No. The data is completely free, there are no conditions, there are no agreements to sign, no registration process—you just take it and do amazing things with it. One example is Google. I remember Bryan Sivak, my successor at as CTO at HHS, called me one day and said, "Go to Google, and type in 'aspirin.' It'll make you really happy." I did, and then—boom!—it pops up on the right-hand side next to the search results, a whole bunch of government-sourced scientific data about aspirin. Google has done it for every single drug, leveraging our national medical API's. Best of all, I had no idea they were doing it. All great innovation ecosystems are chaotic, self-propelled and out of control. And I think we're getting to that point where open-data ecosystems are at that happy place. You started another program, called the Presidential Innovation Fellows. What is that about? It allows us to bring in amazing people from the outside to complement the people on the inside. They operate in start-up mode: small, agile teams to come up with a minimal viable product and then engage with the customer as soon as they can. What were some of the innovations that have come out of the fellowship program? One was called Blue Button for America, which is all about enabling Americans to securely download their own heath information wherever they might be. There is also a project called MyUSA, which deals with the fact we have 24,000 Web sites across the U.S. government—our Web presence is organized the way the government is organized, which is to say incomprehensible. So MyUSA has built a prototype platform that helps you access and use the services and information. Overall, how would you describe the release of data? It's an instantiation of one of our favorite laws of the universe, called Joy's Law. From Bill Joy, co-founder of Sun Microsystems, who famously said, "No matter who you are, most of the smartest people in the world work for somebody else." The whole idea behind open data is to say, look, we don't know anything about the data. We don't have the money or the expertise to do anything, so why don't we just open it up to the people who paid for it already, and they will invent all kinds of things. |
Blackstone, Icahn set up three-way battle to buy out Dell
| Dell Inc appeared to have received competing offers following a $24.4 billion agreement last month to be taken private by its founder and private equity firm Silver Lake, setting up a tug-of-war for the world's No. 3 PC maker. Blackstone Group LP submitted an indicative and preliminary offer ahead of the expiration of a "go-shop" period on Saturday that allowed Dell to explore other options, a person familiar with the matter said. The buyout firm has not yet arranged bank financing, though it has put potential lenders on stand-by, according to a second source familiar with the matter. Billionaire investor Carl Icahn, who has built up a minority stake in Dell and opposes the offer by founder Michael Dell and Silver Lake, also made an offer, according to the Wall Street Journal. Details of the competing offers were not immediately known, but any rival bid would have to prove more appealing than the $13.65-per-share offer of Dell's founder and his private equity partner. Blackstone is offering between $13.65 and $15 a share - trumping Michael Dell and Silver Lake's $13.65 - in a deal that will invite shareholder participation, the Wall Street Journal reported. Blackstone has approached a number of firms, including GE Capital, about financing for the deal, the second source familiar with the situation said. Dell shares closed Friday at $14.14. The firm could finance the deal by selling a piece of Dell's business, the source said. Any rival bid could use a "public equity stub," which gives existing shareholders the option to keep a stake in the company after a buyout, a person familiar with the matter said earlier this week. That person also told Reuters that the company had slashed its internal forecast for fiscal 2013 operating profit to approximately $3 billion - down sharply from the $3.7 billion it had predicted previously. The source added that more details will be illuminated in a proxy filing next week. Blackstone declined to comment while an Icahn representative did not return calls or an email requesting comment. Dell also declined to comment on the profit revision or the offers. It was not immediately clear if other parties had submitted offers for Dell. Michael Dell is trying to re-focus his company on enterprise computing services with the PC market in decline - a difficult transformation that Wall Street analysts have said is better executed away from public market scrutiny. His proposal, which requires approval from a majority of shareholders excluding Dell himself, would end a 24-year run on public markets for a company that was conceived in a college dorm room and quickly rose to the top of the global personal computer business - only to be rendered an also-ran over the past decade as PC prices declined and customers moved to tablets and smartphones. But major shareholders, including Southeastern Asset Management and T. Rowe Price, have protested that his offer undervalues the company and pledged to vote against the deal, which requires a majority of shareholders, excluding the founder, to pass. WHO WILL LEAD? Blackstone had made an aggressive push to recruit Oracle Corp President Mark Hurd to take Michael Dell's place as chief executive, a person familiar with the situation said on Wednesday. But a source familiar with the situation said Hurd has no intention of leaving Oracle. It's unclear what Blackstone intends to do with the company should it submit a bid and win. Analysts have speculated that a buyer could either sell off assets - such as the underperforming PC division that still accounts for about half of revenue - or complete the overhaul Michael Dell began and put the company back on a higher-margin growth track. The New York-based private equity firm conducted due diligence on Dell ahead of the March 22 expiration of a so-called "go-shop" period, which offered interested parties the opportunity to outbid Michael Dell's consortium. Michael Dell returned to the company as CEO in 2007, after a brief hiatus but has been unable to engineer a turnaround thus far. Analysts said Dell could be more nimble as a private company, but it will still have to deal with the same difficult market conditions. Dell executives have said they intended to stick to a strategy of expanding its software and services offerings for large companies, with the goal of becoming a full-service provider of corporate computing services in the mold of highly profitable IBM. The company founder has not said what he would do differently with his company a private entity. Dell was regarded as a model of innovation as recently as the early 2000s, pioneering online ordering of custom-configured PCs and working closely with Asian component suppliers and manufacturers to assure rock-bottom production costs. But it missed the big industry shift to tablet computers, smartphones and high-powered consumer electronics such as music players and gaming consoles. As of 2012's fourth quarter, Dell's share of the global PC market had slipped to just above 10 percent from 12.5 percent a year earlier as its shipments dived 20 percent, according to research house IDC. |
Apple blames record labels, film studios for high Australian prices
| Apple Inc blamed "old-fashioned" record companies, film studios and TV networks for the inflated prices Australians pay compared with U.S. consumers for digital downloads, as it defended its pricing strategy on Friday. Executives from Apple, Adobe Systems Inc and Microsoft Inc were grilled by a special Australian parliamentary committee tasked with investigating allegations of price gouging raised by consumer watchdogs. Software and hardware products in Australia sell for an average of 50 percent more than their U.S. equivalents, according to a 2012 survey of 186 songs, games, programs and computers by Choice, a not-for-profit consumer advocacy group. As soaring cost-of-living bills for basic services hurt the popularity of the minority Labor government ahead of a September 14 election it is widely tipped to lose, lawmakers are considering restricting the ability of companies to set prices in Australia. Apple, Adobe and Microsoft executives told lawmakers the higher prices reflected factors including Australia's 10 percent goods and services tax, higher labor costs, copyright issues and geographical product differentiation. Tony King, the vice president for Apple Australia, New Zealand and South Asia, said pricing on some products like the iPad mini and Final Cut Pro software was about the same as in the United States. But at A$19.99 ($20.87), the Australian price of Justin Timberlake's album "20/20 Experience" on Apple's iTunes music store is about double the $10.99 charged in the United States. AC/DC's "Back in Black" is marked up 70 percent for Australian fans. King said the pricing of digital content was based on wholesale prices set via negotiated contracts with record labels, movie studios and TV networks. "The content industry still runs with perhaps old-fashioned notions of country borders or territories or markets," King said, adding that Apple had pushed content owners for lower Australian pricing. Asked why Apple, the dominant provider of digital entertainment downloads, could not use its clout to knock down wholesale prices, King said responsibility ultimately lay with content providers. "The cards are in the hand of the folks who own the content, that is not in our hand to play," he said. "EVASIVE" ANSWERS The three companies were accused of stonewalling the pricing inquiry after they initially declined to send executives to answer questions publicly. Adobe and Microsoft had provided written submissions while Apple did not respond at all. The committee labeled some of the executives' answers as "evasive" and greeted others with skepticism. A particular bone of contention was the need for so-called geo-blocking, under which companies prevent Australia-based web users from purchasing products at cheaper rates on U.S. sites. Australians have to fork out A$3,175 ($3,300) for Adobe's CS6 Design and Web Premium suite, which Americans can buy for just $1,899. Adobe Australia Managing Director Paul Robson said Adobe's Creative Cloud suite, which is bought on a A$50-a-month subscription basis, was priced on par with the United States and this was "the future of the way we will deliver our technology." Committee member Stephen Jones said the subscription software placed "digital handcuffs" on users, forcing them to keep paying to continue accessing their files. Committee deputy chairman Paul Neville cited the example of a suite of Microsoft products that cost the equivalent of A$2,324 in the United States, A$3,105 in Canada, A$2,323 in Singapore and A$4,136 in Australia. "It seems what you put to us, you're charging what you can get away with in any market," Neville said to Microsoft Australia Managing Director Pip Marlow, who denied the charge. "If we price the products too high, consumers will vote with their wallets and move elsewhere, we have a very competitive landscape," Marlow told the committee in Canberra. |
Visa has no plans for digital wallet fee at this point: executive
| Visa Inc has no plans to implement a "digital wallet" fee at this point, Jim McCarthy, global head of product at the payment network, said on Thursday. The comment came amid recent concern Visa might follow MasterCard Inc's move to impose a new fee on operators of digital wallets, such as PayPal, owned by eBay Inc. During a Barclays investor conference on Wednesday Visa Chief Executive Charlie Scharf suggested that the company may impose a fee on digital wallet operators. A Visa spokesman said on Thursday that Scharf's comments were about evolving relationships with payment industry participants, rather than the potential for a specific new fee. |
YouTube now serving videos to 1 billion people
| YouTube says more than 1 billion people are now visiting its online video site each month to watch everything from zany clips of cute kittens to sobering scenes of social unrest around the world. The milestone announced Wednesday marks another step in YouTube's evolution from a quirky startup launched in 2005 to one of the most influential forces in today's media landscape. YouTube crossed the 1 billion threshold five months after Facebook Inc. said its online social network had reached that figure for the first time. The vast audience has given YouTube's owner, Google Inc., another lucrative channel for selling online ads beyond its dominant Internet search engine. Google bought YouTube for $1.76 billion in 2006 when the video site had an estimated 50 million users worldwide. |
The biggest advantage Samsung has over Apple and other smartphone vendors
| Apple (AAPL), the world's most profitable smartphone maker, has a number of advantages over most of the competition. Momentum, complete control over its end-to-end user experience, design prowess and a number of major new revenue channels it may be preparing to tap can be listed among them. But there is one area where top rival Samsung (005930) has a huge edge over Apple and other smartphone companies, and a recent report illustrates just how important it really is. Earlier this week, research firm IHS iSuppli issued its compulsory pre-launch estimate for the Galaxy S 4′s bill of materials. According to that estimate, the Galaxy S 4 costs Samsung about $236 per unit excluding manufacturing costs. That figure is quite high compared to the estimated $207 Apple pays for each iPhone 5, but a key observation was made by Forbes' Parmy Olson in a recent post: More than half of the cost of each Galaxy S 4 goes right back into Samsung's pocket. The international version of the Galaxy S 4 costs Samsung $236 per unit, but $149 worth of parts used in the phone are manufactured by Samsung, such as the eight-core Exynos processor and the full HD Super AMOLED display. That means 63% of Samsung's cost per handset is funneled back into the company's component businesses. But beyond dollars and cents, this also gives Samsung a level of control over its devices that no other vendor can compete with. "That type of specialization they can work with," IHS analyst Wayne Lam said. "If they know these components are coming down the line they can start planning and innovating on the software. 'We have this extra processing power, so why don't we do this and that.' " BGR recently previewed the Galaxy S 4 and we called it the Android smartphone by which all others will be judged in 2013. The phone will begin rolling out globally next month. |
Apple’s hire of prominent Adobe Flash defender draws rebukes
| It's been nearly three years since Steve Jobs wrote his famous takedown of Adobe's Flash platform as a battery-draining, Mac-crashing, insecure mess. Since that time, Jobs has largely been proven right since the mobile industry has moved on from Flash as a video platform in favor of HTML5, the open-source alternative that Jobs predicted would "win on mobile devices" going forward. All of this makes it somewhat surprising that Apple (AAPL) has decided to hire former Adobe CTO Kevin Lynch as a vice president of technology, especially because Lynch was one of Flash's most prominent public defenders during Adobe's spat with Jobs. Daring Fireball's John Gruber, for one, called Lynch a "bozo" and a "bad hire" and said that he didn't understand Apple's thinking behind the decision. In particular, Gruber noted that all of the companies that had publicly embraced Flash had either gone out of business, had significantly lost market share or had ditched Flash all together. "I have a bad feeling about this," he concluded. AppleInsider, while also skeptical of Lynch's past defense of Flash, was overall much less hostile to the decision and noted that "Flash isn't the only project Lynch has worked on" and that Lynch has also done prominent work designing "Frame's FrameMaker publication layout software (later acquired by Adobe) as well as Macromedia's Dreamweaver, one of the original graphical desktop web development tools." AppleInsider concluded that there's "lots of potential for Lynch at Apple" despite his past feuds with the company |
Panasonic considers exiting from plasma TVs: Nikkei
Japan's Panasonic Corp is leaning towards withdrawing from plasma television operations as part of a downsizing of its television business over three years starting next fiscal year, the Nikkei newspaper said on Monday.
The troubled consumer electronics maker has already been selling assets, including real estate, to strengthen its financial position.
Panasonic's TV business, which generated sales of more than 1 trillion yen ($10.5 billion) during the peak in 2009/2010, is seen earning less than half of that amount in 2015/2016, the newspaper said without citing any sources.
"We are considering a number of options regarding our TV business. But nothing has been decided yet," a Panasonic spokesperson said.
Panasonic planned to end plasma TV panel production at its main plant in Amagaskai in western Japan around fiscal year 2014, the Nikkei said, adding that the company had already written off the value of production equipment there.
The Japanese firm has already halted new development of plasma TVs, and decided that handling both plasma and LCD models would be inefficient, especially in Japan, where the flat-TV market is shrinking, the newspaper said.
Why graphene speakers could become the audio industry’s new gold standard
| We've heard a lot about graphene being a "wonder material" that could be used for smartphone casings and antennas, but now it seems that some engineers have found a way to incorporate it into audio speakers and headphones as well. Technology Review reports that University of California Berkeley researchers Qin Zhou and Alex Zettl have found that graphene is the perfect material for constructing speaker diaphragms, which typically work best when made from a thin material that reduces the need to conduct expensive and energy-consuming "damping engineering." But given that most thin materials are also fragile, crafting a perfectly balanced speaker diaphragm can become challenging. This is where graphene comes in: It's a two-dimensional material that measures just one atom thick and has been described by Nokia (NOK) as the "strongest material ever tested, having a breaking strength 300 times greater than steel." In other words, it's dream come true for audio engineers who are trying to construct the world's best speakers and headsets. "The graphene speaker, with almost no specialized acoustic design, performs comparably to a high quality commercial headset," Zhou and Zettl tell Technology Review. "Even without optimization, the speaker is able to produce excellent frequency response across the whole audible region (20 Hz~20 KHz), comparable or superior to performance of conventional-design commercial counterparts." |
Google's Android chief Andy Rubin steps down
| The architect of Android, the world's top-selling mobile operating system, Andy Rubin, has decided to step down as Google Inc combines mobile software divisions under one roof, the company said on Wednesday. Google appointed Sundar Pichai, the executive overseeing its Chrome web browser and applications like Google Drive and Gmail, to take over Rubin's responsibilities, hinting at how the company with the dominant Internet search engine intends to address the rise of mobile devices. In a blog post, Larry Page, Google's chief executive and co-founder, credited Rubin for evangelizing Android several years ago and building it into a free, open-source platform that runs on nearly three-quarters of the world's smartphones and is used by the world's largest handset manufacturers, from Samsung Electronics Co Ltd to HTC Corp. "Having exceeded even the crazy ambitious goals we dreamed of for Android — and with a really strong leadership team in place — Andy's decided it's time to hand over the reins and start a new chapter at Google," Page wrote. "Andy, more moonshots please! The merger of the Chrome and Android divisions helps resolve a longstanding tension in the Mountain View, California-based search engine company's corporate strategy, and reflects a convergence of mobile and desktop software. When Google poured resources into launching the Chrome web browser five years ago, the company laid out a vision of the Internet and an ecosystem of apps based on the Web. Since then, the Android operating system, acquired by Google in 2005, has exploded in popularity, enabling third-party handset makers like Samsung to overtake Apple Inc while also spawning a massive economy of third-party apps that are only loosely affiliated with Google. "You had this Chrome OS and this Android Group that were building in many overlapping products," said Michael Gartenberg, an analyst at Gartner. "But for Google, it's not about the platform, but the ecosystem. They're more concerned long-term about Google Docs, Google Voice, Google Books, and less about helping Samsung sell more phones." Chrome, Gartenberg added, "was the purest expression of Google's philosophy." Page was mum on Rubin's future role. Some analysts speculated that Rubin, an executive with a knack for developing products, could take on one of the company's many budding projects such as its Glass eyewear or the self-driving car. "If he really has the magic touch perhaps he can create something else within Google," said Colin Gillis, an analyst at BGC Partners, who added that it was better for Google to have a more "cohesive" mobile brand. Android is now installed on roughly two-thirds of the world's smartphones, supplanting Apple Inc at the pinnacle of the fast-moving mobile arena. Anrdoid tablets are also expected to overtake Apple's iPad in terms of shipments in 2013, IT research house IDC predicted on Tuesday. "Going forward, Sundar Pichai will lead Android, in addition to his existing work with Chrome and Apps. Sundar has a talent for creating products that are technically excellent yet easy to use—and he loves a big bet," Page wrote in the blogpost. Pichai, who began his engineering training in India before moving to the United States, aggressively pushed Google's Chrome browser in 2008, when Microsoft Corp's Explorer lorded over the market. Chrome now commands a roughly 35 percent market share according to Web traffic analyzers StatCounter. He is also credited with the development of some of the company's more successful apps, such as Calendar and Gmail. "While Andy's a really hard act to follow, I know Sundar will do a tremendous job doubling down on Android as we work to push the ecosystem forward," Page said. Google shares slipped 0.2 percent to $825.83 in afternoon trading. |
FAA approves Boeing plan to fix 787's batteries
| A Boeing plan to redesign the 787 Dreamliner's fire-plagued lithium-ion batteries won approval Tuesday from the Federal Aviation Administration, moving the cutting-edge planes a step closer to flying passengers again. The plan includes changes to the internal battery components to minimize the possibility of short-circuiting, which can lead to overheating and cause a fire. Among the changes are better insulation of the battery's eight cells and the addition of a new containment and venting system, the FAA said in a statement. The FAA statement didn't provide an estimate for when the grounded planes might return to service. Rep. Rick Larsen, D-Wash., who was briefed by the agency, said that if all goes well, the FAA could give final approval by mid- to late April for the 787 to resume flight. Boeing would still have to retrofit the 50 planes already delivered to eight airlines in seven countries, Larsen said in an interview. That could mean the plane wouldn't return to the skies until late April or early May, he said. First, Boeing's redesigned batteries have to pass a series of 20 separate lab tests, Larsen said, then flight tests would follow. "If there's any one test that isn't passed, it's back to the drawing board for that particular part of the tests," he said. So far, test flights of two 787s have been approved — one with a complete prototype of the new battery, the other with only a new, more robust containment box for the battery, Boeing spokesman Marc Birtel said. The plan is an outline for a recertification of the plane's batteries, the FAA said. The 787 has two identical lithium-ion batteries, one of which is located toward the front of the plane and powers cockpit electrical systems, the other toward the rear and used to start an auxiliary power unit while the plane is on the ground, among other functions. Every item that is part of an airplane, down to its nuts and bolts, must be certified as safe before FAA approves that type of plane as safe for flight. The 787 fleet worldwide has been grounded by the FAA and civil aviation authorities in other countries since Jan. 16, following a battery fire on a Dreamliner parked in Boston and a smoking battery that led to the emergency landing of another 787 in Japan. "This comprehensive series of tests will show us whether the proposed battery improvements will work as designed," Transportation Secretary Ray LaHood said in a statement. "We won't allow the plane to return to service unless we're satisfied that the new design ensures the safety of the aircraft and its passengers." All Nippon Airways, the largest customer for the plane so far, said in a statement from Japan that it saw the FAA decision as significant progress. "Putting safety as the first priority, we hope to get the planes back in the air as soon as possible," the airline said. The airliner's troubles have raised concerns that the FAA has ceded too much responsibility for evaluating the safety of new aircraft to manufacturers. To save manpower, the FAA designates employees at aircraft makers and their subcontractors to conduct the safety testing of new planes. Boeing's battery testing concluded that short-circuiting wouldn't lead to a fire and that the chance of a smoke event was one in every 10 million flight hours. Instead, there were two battery failures when the entire fleet had clocked less than 52,000 flight hours. The FAA's approval of Boeing's plan "is a critical and welcome milestone toward getting the fleet flying again and continuing to deliver on the promise of the 787," Jim McNerney, the aircraft maker's CEO, said in a statement. The 787 is Boeing's newest and most technologically advanced plane. Its grounding on Jan. 16, an enormous black eye for Boeing, marked the first time since 1979 that FAA had ordered every plane of a particular type to stay out of the air for safety reasons. UBS analyst David Strauss estimated that the 787 will cost Boeing $6 billion this year. Besides the battery problems, the plane already costs more to build than it brings in from customers. United Airlines is the only U.S. carrier with Dreamliners in its fleet. It has six, plus another 44 on order. American and Delta have also ordered 787s. Boeing has orders for more than 800 of the planes from airlines around the globe. Steven Udvar-Hazy, CEO of Air Lease Corp., which has ordered 12 of the planes, said it could still take months for the plane to fly again and that a very long-term grounding could damage the 787 Dreamliner brand. "It's important to get the airplane back in the air," Udvar-Hazy said while attending an airplane finance conference in Orlando, Fla. "Every plane has mechanical issues, but this was one that was considered serious by the authorities and I think Boeing has done everything it can to get that under control." Udvar-Hazy has had weekly updates from Boeing's CEO of commercial airplanes, Ray Conner, and daily conversations with others at the airplane manufacturer. He has then relayed that information to his airline customers around the world. "Boeing has been very transparent and I think they've made a very concerted effort to address this issue ... to come up with a fix that hopefully is a permanent fix, not just sort of a Band-Aid solution," he said. Boeing plans to begin test flights within days, Birtel said. The new battery design will be tested on a plane that has been identified elsewhere as being built for LOT Polish Airlines. Boeing also plans to fly a 787 that is used exclusively for testing. That plane has the stronger battery box, and will also be used for unrelated engine tests. Before the fire on Jan. 7, Boeing shares had closed at $77.69. They closed as low as $73.65 three weeks later, after the planes had been grounded. But the shares have been recovering as anticipation grew for a battery fix. Boeing's gains have outpaced the strong rise in the Dow Jones industrial average, of which Boeing Co. is a member. On Tuesday, Boeing shares rose $1.22 to close at $84.16, and rose another 28 cents to $84.44 in aftermarket trading. |
