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May 27 (Bloomberg) — Charles Lieberman, former economist at the Federal Reserve Bank of New York and now chief investment officer with Advisors Capital Management LLC, discusses investment strategy and the U.S. economy. Lieberman, speaking with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart,” also talks about the outlook for Federal Reserve monetary policy. (Source: Bloomberg)

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Video: Lieberman Says U.S. Economy Is `Gathering Momentum’

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Marketwire – Management Changes:

Former Austin Energy CIO and Smart Grid Pioneer Joins Proximetry to Advance Wireless Network Management Solutions in Smart Energy and More

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Proximetry Adds Smart Energy Veteran Andres Carvallo to Management Team

Video: Miron Says U.S. Economy Is in `Pretty Good Shape’

March 25, 2011

March 25 (Bloomberg) — Jeffrey Miron, a professor at Harvard University, talks about the U.S. economy and the outlook for Federal Reserve monetary policy. Miron, speaking with Matt Miller on Bloomberg Television’s “Street Smart,” also discusses U.S. budget issues. (Source: Bloomberg)

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Video: Grant Says Investors Should Bring Money Back to U.S.

March 15, 2011

March 15 (Bloomberg) — Mark Grant, managing director at Southwest Securities Inc., discusses the impact of Japan’s natural disasters and the crisis at its damaged nuclear reactors on global financial markets. Grant, speaking with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart,” also discusses his investment strategy. (Source: Bloomberg)

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EnerNOC Hires Hugh Scandrett as Vice President of Engineering

March 10, 2011

BOSTON, MA–(Marketwire – March 10, 2011) –   EnerNOC, Inc. ( NASDAQ : ENOC ), a leading provider of energy management applications for the smart grid, today announced that it has hired Hugh Scandrett as Vice President of Engineering. Mr. Scandrett most recently served as Vice President of Engineering for Kronos Inc., a Massachusetts-based workforce management solutions firm, where he led a global application development team of 425 engineers based in three countries. He previously held leadership positions with Ounce Labs, IBM Rational, DSC Communications, and Nortel, and brings nearly 30 years of experience in the enterprise software and telecommunications industries with him to EnerNOC.

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Karl Giberson, Ph.D: Where Is My Free Market?

February 17, 2011

I am sitting now in a pose familiar to millions of Americans: on hold trying to get a response from Comcast after dispatching the various automatons to reach a real person. Of course the first real person you talk to at Comcast — a maternal type — can’t do anything. She is there to express sympathy and tell you that someone with more authority will be with you “shortly.” So I am on hold while she searches for someone who can do something. At least that is what she said. I have this sinking feeling she is gathered now with co-workers, setting up a betting pool to see how long before I lose hope, cave in, and hang up. After a few minutes of silence Comcast starts up some dreadful elevator music, apparently intended to keep me content. The music is terrible. Do they really think that listeners want to hear music through their tiny no-fidelity phone speakers? The music is so unpleasant I am wondering if its real purpose is to wear me down. I recall that the US Army blasted heavy metal music at Noriega to get him to surrender during the Iran-Contra affair, or at least accept a credit on his internet service. After several painful minutes of this music “Jasmine” comes on the line to talk to me. She is quite friendly but won’t give me her last name. I repeat my complaint. I think this makes 6 different people at Comcast who have heard this story about my demon-possessed modem. Perhaps there is a betting pool at the office on this as well — how many times will this poor guy repeat his story before he gives up? “I am not a happy customer,” I tell Jasmine. “I have been paying a premium for high speed internet for years and receiving the much cheaper “economy” speed.” (In technospeak, I have been paying for 22 Megabytyes per second and receiving less than 10% of that, which I suppose would be like renting a van that is supposed to hold 10 passengers and getting a Smart Car that seats one. The only difference is that high internet speeds look so similar to low speeds that low tech consumers like me can’t tell the difference.) A friend alerted me to my problem. He connected me to a website I did not know existed — www.speedtest.net — that provides a simple and quick measure of internet speed. And mine was 90% lower than what I was paying for. I called Comcast and they promptly sent out a knowledgeable friendly tech support guy who checked the modem Comcast had installed in my house years ago. “Your modem was set incorrectly on the “economy” setting” he told me, as snow from his boots melted all over my living room floor. “It should be fine now.” I checked, and it was. Thank God for www.speedtest.net. “I should get a refund for overpaying all these years shouldn’t I?” I asked. “Yes” said the tech, barely able to contain his laughter, “but you might have to fight to get it.” I explain all this to Jasmine, who goes away to talk to someone and returns with the happy message that Comcast will give me a credit of $22 per month for the previous year. I object on the grounds that I have been overpaying for a decade — not a year — and am entitled to a bigger credit than that. (My current Comcast bill, which covers cable, internet and phone, is $221 per month, or $2652 per year, or $26,520 per decade — I have a been a good customer over the years and am thinking that this should be worth something. In fact, for a company rapidly losing customers to the competition, it should be worth a lot.) In response to my objection Jasmine tells me that Comcast considers it the customer’s responsibility to alert them to problems like the internet speed. If a customer does not complain, she says, they assume everything is fine and the customer has no grounds for complaint. “If HBO stops working,” she said, making an analogy, “the customer is supposed to contact us. If they don’t then we assume everything thing is OK.” I object to this bogus analogy. “If HBO is not working, it is easy to tell, “I explain in exasperation. “The screen is blank. How is a customer supposed to know whether their internet speed is less than what they are paying for?” Comcast apparently assumes their customers are all geeks, downloading movies with stopwatches in their hand, and eagerly texting their friends about how many Megabytes per second they have. This response is preposterous. Consumers like me use the internet mainly for email, reading news, Googling information and other less demanding activities. The difference between high and low speeds for some of these activities is simply not noticeable. Only with extended video downloads would the difference become noticeable, and then only if a consumer had a standard of comparison. It turns out–no surprise– that Jasmine is not authorized to give more than a year of credit for such problems. So she transfers me to an even higher authority. After some more Noriega music I am connected to the “Executive Office,” and speak with “Nancy,” who says she will look into things and call me back the next day. I object, to no avail, that this is the 3rd promise for a “callback”. The next day I get my callback with the final resolution, which is no resolution at all. Apparently it is possible although “very rare” for a modem to change its setting on its own. Any time a customer does anything with their service–upgrade, change to a new package, shout “Verizon FIOS” too loudly–a signal is sent from Comcast to the consumer. This signal, said Sharon from the Executive Office, can actually change the modem setting from high to low speed. Apparently it can’t change from low to high though. She did acknowledge that she had “hardly ever seen it.” My guess is she had never seen it even once and merely heard a story about it happening once to a customer in Antarctica during an eclipse. But, because she had “no way to know” that this had not happened–it is, after all, not prohibited by the laws of physics–she had to assume that this very rare event had occurred recently and was the source of my problem. Otherwise, Comcast would have to credit me for what was probably, by her own admission, years and years of overpayment for a premium service I never received. Unfortunately customers in much of the country are captive to this kind of heavy-handed treatment. Living without internet and cable is not a real option, and many consumers have just one provider–Verizon is not available to me but I have no reason to think they would be any different. And, with the product being a complex and intimidating technology, customers are forced to simply trust that the signals coming through their wires are what they are paying for.

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Grant Cardone: Never Be Ripped off by Credit Cards Again

February 2, 2011

Use the credit card companies and don’t let them use you! It is unnecessary for anyone to ever find themselves the victim of their credit cards. Because the current credit card industry is under tremendous attack by things like the CARD Act Implementation, competition, and the threat of a shift from plastic to mobile credit, the smart consumer is in a great position today if they know how to play the game. While credit cards have gotten a bad reputation for victimizing people with late fees, penalties, and high interest rates, the informed customer is in a position to turn the tables. Here are some secrets to help you take advantage of the credit card companies rather than having them take advantage of you. 1) Be in Control: Most people get a credit card as victims and agree to being taking advantage of. Reverse this by making your decision to only use them for their convenience factor without paying to do so. I never pay interest, sign up fees or late fees on a card — I use them. They don’t use me. 2) Pay Off the Balance in Full: I never carry a balance with the credit card company no matter how attractive the rate. If you can’t pay it off at the end of the month, don’t use it. This doesn’t take just commitment, but it takes an agreement from everyone in the family that credit cards are only used as an accounting device, its convenience, and only when you can pay it off. 3) Negotiate your rate: If you are going to have a recurring balance, which I don’t recommend, call and negotiate directly with the company. You have every right, and should, call and ask to have the advertised rate lowered. Also, the better your credit and payment history, the better your chances of selling this to them. 4) Customize Your Due Date: Let’s say your paycheck comes on the 15th and 30th, but your credit card bill is due on the 5th. To improve your cash flow and not put yourself under unnecessary pressure, coordinate the due date that best fits your cash flows. You don’t need stellar credit to make this call and ask for the change. 5) Ask to Have a Late Fee or Interest Fee Removed: If you have a good history of on-time payments and then find a late fee or interest fee on the statement because you didn’t get your payment in by the due date this time, ask that it be removed. I have done this successfully on over a dozen occasions. Ask for mercy that they remove the fee to reward you for your past good behavior. If the person you speak with can’t do it, ask for a supervisor and make it clear that you are willing to close the card out if they don’t remove it. 6) Negotiate the Annual Fee: There is tremendous competition for your business today. There’s no reason for you to pay for the use of a credit card. Even a $35 fee a year over a period of 5 years is $175. I’d personally much rather spend that on my wife. Tell the issuer that you want to use their card but don’t want to pay the fee. Chances are they won’t want to lose your business. While credit cards can be seen to victimize people they can also be an asset when used correctly. They provide convenience, act as the perfect accounting for expenses, accumulate travel points and cost you nothing. As long as you can be aware and responsible of how you make use of your credit cards, you’ll find that they can be great assets to your life. With estimates of over 1 billion Visa, Mastercards and Amex cards in circulation just in the US, it would be important that you make a decision to use your credit cards to benefit your household rather than participating in the credit card company victimizing you. Grant Cardone is a NY Times Best Selling Author and Sales Training Expert.

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Video: Weiss Says Rosneft Deal May Give BP Access to Resources

January 14, 2011

Jan. 14 (Bloomberg) — Philip Weiss, an analyst at Argus Research, talks about BP Plc’s agreement with Russia’s state oil producer OAO Rosneft to form a global strategic alliance. BP will take 9.5 percent of Rosneft shares after the agreement and the Russian company will hold 5 percent of BP, valued at $7.8 billion, according to a statement released during a signing ceremony in London. The companies agreed to develop three blocks in Russia’s Arctic Ocean. Weiss talked with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart” before the statement was released. (This is an excerpt of the full interview. Source: Bloomberg)

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Video: Pardes Says Health-Care Law May Cause Hospital Closings

December 30, 2010

Dec. 30 (Bloomberg) — Herbert Pardes, chief executive officer of New York Presbyterian Hospital, talks about the impact of President Barack Obama’s health-care law on the industry and the possibility the legislation will be repealed. Pardes, speaking with Carol Massar and Shannon Pettypiece on Bloomberg Television’s “Street Smart,” also discusses the need for more medical professionals. (Source: Bloomberg)

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Video: Groenewegen Says Cornering of Copper Could Be `Problem’

December 23, 2010

Dec. 22 (Bloomberg) — Gijsbert Groenewegen, founder of Silver Arrow Capital Management, talks about the outlook for commodities including copper and gold. Groenewegen, speaking with Matt Miller and Emily Chang on Bloomberg Television’s “Street Smart,” says a cornering of the copper market could be a “huge problem.” (Source: Bloomberg)

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Smart Card Alliance Identity Council Announces New Officers, Plans for Educational Resources on Trusted Identities

December 22, 2010

PRINCETON JUNCTION, NJ–(Marketwire – December 22, 2010) – Guiding the creation of strong identity management foundations for citizen and government identity programs is the focus for the coming year, the Smart Card Alliance Identity Council said recently. The Identity Council also announced new officers and a steering committee, and recently held a workshop on the Personal Identity Verification (PIV) Interoperable (PIV-I) card at its 9th Annual Smart Cards in Government: Identity, Security & Healthcare Conference in November in Washington D.C. 

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PHOTOS: Banker Lands Interviews With Overzealous PowerPoint Presentation

December 2, 2010

Writing cover letters in PowerPoint apparently works wonders. An applicant for an analyst job at Citigroup scored an interview after submitting an 11-page Powerpoint presentation entitled “I’m Always Awake With Citi: 9 Reasons Why You SHOULD Hire Me As Your Investment Banking Analyst,” Dealbreaker reports. Bank of America and “several” other firms have reportedly also offered interviews. As Business Insider points out, the application demonstrates this person’s facility with the skills needed on the job — making PowerPoint presentations. That, combined with slide headings such as “SMART” and “MULTI TASK,” appears to be a winning strategy. The presentation isn’t without its flaws. “I’m good at finding mistakes in articles, spreadsheets, and programming codes,” it reads, amid sentences such as, “I am very excited about the fast-paced, people-oriented environment in Investment Banking where new things come up every day really obsesses me.” But these inconsistencies appear not to have mattered. Read the full presentation below:

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Janice Bryant Howroyd: Holiday Job Shopping Can Be A Smart Strategy

December 1, 2010

Traditionally, the end of year is the busiest shopping season of all. If you’ve been out of work all year, the looming holidays can be a depressing prospect. Common job seeker belief is that this is the slow hire period and the smart strategy is to put off looking until the New Year. Hark! Hear the bells! This is not the time to give up. This is the time to let your abilities, enthusiasm and availability shine for you! While others are slowing down their job search for the holidays, this is the exact time to spruce up your resume and make some calls. The employers you want to reach are probably in the best position to consider hiring you because many companies complete their fiscal year by budgeting for the next. This most often includes allowing for any new hiring that will occur. So, as your job search competitors are going into holiday mode, grab the attention and good cheer of hiring managers and turn your shopping spree into a shiny new job! During this slow period, employer’s schedules are more open than usual, and I can’t stress how important networking is. This is the perfect time to do it. Right now, ask your employed friends to invite you to their company holiday parties and make that time work for your job search. Talk to the other employees about the company and learn if there are job openings or future planned hiring. The components of Luck are: Learning, Using, Communicating and Kindling! Kindle your holiday fire by finding the right opportunity. You have to put yourself in a position for luck to find you. One solid tip this time of year is: Make a list and check it twice! Create a list of every interview you’ve had this past year and send holiday cards to each of them. Don’t worry about finding fancy expensive cards; that’s not the point. It’s about reminding them that you are still out there and getting back on their radar. They will appreciate the thought, even if they don’t have a job for you at the moment. You will be at the top of their list in the New Year as they search their files for candidates. You may even choose to send a smart, personalized and attractive holiday greeting that you create electronically! Show your skills off! Persistence beats resistance, every time! So, continue to screen the classifieds and web-postings. Use your social media outlets to let people know you are looking for work. Finding the right job is definitely a gift you give to yourself. Making sure there are gifts for your loved ones and friends during this holiday season is also possible. TEMPORARY WORK IS OUT THERE!!! Sign up with Apple One via our website (www.appleone.com) or come into your local AppleOne office (or any temp agency), and be surprised by who you might help, while helping yourself. As you’re playing holiday elf to a company, remember to mention that this is a seasonal job and you are seeking fulltime employment. Keep in mind: Once you get the interview, be cheerful. Don’t bring the weight of the year with you. We have all felt the turbulence of the past few years, but attitude is a powerful thing and can change lives. It can change yours! God Bless you.

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Video: Harris Says Housing `Weight Around the Neck’ of Recovery

November 24, 2010

Nov. 24 (Bloomberg) — Ethan Harris, head of developed-markets economic research at Bank of America Merrill Lynch, and Bloomberg economist Joseph Brusuelas, talk about the U.S. labor and housing markets. Harris and Brusuelas, speaking with Matt Miller on Bloomberg Television’s “Street Smart,” also discuss the Federal Reserve’s policy of quantitative easing. (Source: Bloomberg)

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Smart Card Alliance Board Members and Executive Leadership Announced for 2011

November 18, 2010

WASHINGTON, DC–(Marketwire – November 18, 2010) – 9 th Annual Smart Cards in Government Conference —  The Smart Card Alliance today announced its 2010-2011 board and seven-member executive committee. Elections were held during the 9th Annual Smart Cards in Government: Identity, Security & Healthcare Conference , taking place this week through November 19 th at the Washington DC Convention Center. 

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Manisha Thakor : 4 Ways Healthcare Reform Will Affect Your FSA

November 18, 2010

These days it feels like change is the only constant. As working Americans prepare for open enrollment – the annual window where you can make key elections to your employee benefits – it’s very important to be aware of a number of recent changes that have occurred as a result of health care reform, including those changes that impact flexible spending accounts (FSAs). For those not already in the know, FSAs are a great way to plump up YOUR bottom line by enabling you to pay for necessary out-of-pocket medical expenses with pre-tax dollars. As a result, when you sign up for an FSA, you can save up to 40 percent on expenditures that you are going to make anyway. To help current and prospective FSA users prepare for open enrollment, I’ve teamed up with Wage Works on a ” Save Smart, Spend Healthy Campaign ” to spread the word on how you can make the most of this critical period. Here are four key differences from last year that you should know about when planning how much to contribute to your FSA account: 1. OTC Medicines Are Still Covered… But You Will Need A Prescription . When there is change, there is often confusion. A number of news stories have inaccurately reported that the IRS is no longer allowing over-the-counter (OTC) medications to be paid for with FSA funds. Thankfully, this is incorrect. The truth is that starting January 1, 2011 OTC medications (excluding insulin) will require a doctor’s prescription in order to be paid for with FSA funds. Note: the key word here is “medicines.” Other non-medicinal OTC items such as band-aids, crutches and diagnostic kits can still be paid for with FSA dollars prescription-free. The easiest way to prepare for the new rule around OTC medications is simply to have a frank dialogue with your doctor at your next annual exam and get the necessary paperwork (specifically, a prescription) in advance for things like allergy medicine or pain relief capsules. 2. Contribution Caps Are Coming… So Plan Today For Elective Procedures . Starting in 2013, annual contributions to FSA accounts will be capped at $2,500. (Right now contribution caps are set by individual employers, and tend to average around $5,000). If you’ve been contemplating an elective procedure for you or a qualified family member – such as LASIK or braces – 2011 and 2012 are the last two years in which to set aside and use extra funds in your FSA. Remember, a payment made with FSA dollars is akin to getting a discount of up to 40 percent off since you are paying with pre-tax dollars. So it’s really worth it to make an estimate of your FSA eligible expenses for the coming year and sign up to contribute that amount into your account. 3. Adult Children Get A Helping Hand… Under Certain Circumstances . Thanks to healthcare reform your adult children can stay on your healthcare policy up to age 26 – as long as they are not offered coverage by their employer. Now is a great time to check in with your entire family and see who might need coverage and/or whether any of your adult children qualify as dependents. Note: some firms will allow mid-year FSA contributions to reflect the addition of adult children so check with your HR department about their policies on qualifying events. 4. “Free” Preventative Care… Means Some Costs Will Go Away . Last but not least, routine screening for blood pressure, diabetes and cholesterol may no longer require a co-pay. Other cancer screenings like mammograms and colonoscopies as well a pre-natal care visits, vaccinations, and routine infant and childcare checkups may also be provided as part of your baseline insurance – thus requiring no additional out-of-pocket cost. If you had previously used your FSA to pay for these expenses, you can pare back here. Ultimately, spending a little bit of time understanding how healthcare reform may change the amount you choose to contribute to your FSA for 2011 is an investment that you won’t regret.

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Video: Gilligan Says AmEx Trying to Support Small Businesses

November 9, 2010

Nov. 9 (Bloomberg) — Edward Gilligan, vice chairman of American Express Co., talks about the company’s promotion of “Small Business Saturday” on Nov. 27, which encourages cardholders to shop at independent businesses who accept American Express. Gilligan, speaking with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart,” also discusses consumer spending and regulations on credit cards. (Source: Bloomberg)

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Daniel T. Walsh: Harness the Profit Motive to Deliver Environmental Sustainability

November 5, 2010

Showing businesses how to profitably achieve environmental sustainability goals just might be the motivational carrot we need to begin reducing energy consumption today and jumpstart significant progress in reducing greenhouse gas emissions. While it appears increasingly unlikely that Congress will take up energy or climate legislation during the current session, there is a growing consensus among business leaders that meaningful progress can be made in mitigating emissions and energy use by embracing new tools and approaches into their business models. Debunking the notion that sustainability and profitability are mutually exclusive corporate goals, a recent CEO survey on sustainability released by Accenture, found that sustainability is being recognized as a source of cost efficiencies and revenue growth. In fact, 80 percent of the more than 760 CEOs surveyed indicated that the downturn has only served to raise the importance of sustainability for their businesses. What’s driving this dramatic shift in behavior is the growing realization that achieving energy efficiency is not only good for the environment and reducing U.S. dependence on foreign oil, but can deliver financial returns that can far outweigh the initial investment and can readily be turned into an opportunity for savings that can boost bottom lines. To realize a more sustainable energy future, it is necessary to change how we produce and consume fossil fuels. Changing production is a slow route that is principally limited to progress in the energy sector. Reducing consumption, however, can happen faster and have a far greater impact across the entire economy. And that’s particularly true if it’s based on simple, traditional economic theory that dictates that the best way to encourage consumer behavior is to change the equation — by removing the effort, or cost of taking positive action and delivering immediate gratification or savings. For example, the overwhelming response to some of the government’s recent tax rebate programs showed just how powerful immediate cost savings can be as a motivator in achieving positive environmental outcomes. For example consumer response to instant vehicle rebates overwhelmed original projections, with 677,000 older vehicles being swapped for more efficient models in a matter of weeks, resulting in an impressive annual reduction of 1.5 million metric tons of CO2. For U.S. businesses, one of the fastest routes to emissions reduction and energy savings is being achieved through the deployment and use of “smart networks.” Smart networks leverage a powerful “network offset effect” that occurs when replacing carbon-intensive activities – such as travel – with less carbon intensive technologies. The simple fact is that the energy required to communicate is much less than the energy required to physically move people and things around. By using technology to leapfrog the old, physical infrastructure we can move work to people rather than people to work; connect rather than travel; manage business remotely and in real-time; and improve transportation and distribution system efficiencies Demonstrating how travel replacement can reduce costs targets some of the lowest hanging fruit for reducing energy consumption in the U.S. Telepresence and other forms of virtual collaboration that can replace some business travel represent perhaps the most promising opportunity for businesses to start capturing significant emissions reduction benefits in the near-term, with relatively minor changes to existing business processes – i.e., removing the “effort” in the cost equation. Telepresesence, a high-definition videoconferencing technology which enables groups of people to meet “in person” in multiple locations worldwide – holds even greater promise for unlocking the sustainability benefits of travel replacement. A recently released study commissioned by the Carbon Disclosure Project and produced by independent analyst firm, Verdantix, found that if the largest US and UK businesses (> $1 billion revenues) were to substitute telepresence for some business travel, they could cut CO2 emissions by nearly 5.5 million metric tons by 2020- equivalent to removing more than one million passenger vehicles from the road for one year. And with the systems achieving payback in only 15 months, the study found that total economy-wide financial benefits of almost $19 billion could be achieved in the same timeframe. The study also revealed that telepresence technology can help speed decision-making, improve employee productivity, and provide workers with a better work-life balance – delivering a host of immediate benefits above and beyond cost savings to motivate positive behavior in reducing emissions. Harnessing smart networks that leverage the network offset effect to deliver immediate energy efficiencies and cost savings to businesses just might be the right economic equation to motivate the positive behaviors and actions required to deliver significant progress in addressing energy efficiency and emissions reduction. And it’s an approach that can help businesses make smarter sustainability choices and investments today that better prepare them for whatever challenges may lie ahead. Daniel T. Walsh is a Senior Vice President in Marketing Services for AT&T Business Solutions.

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Daniel T. Walsh: Harness the Profit Motive to Deliver Environmental Sustainability

November 5, 2010

Showing businesses how to profitably achieve environmental sustainability goals just might be the motivational carrot we need to begin reducing energy consumption today and jumpstart significant progress in reducing greenhouse gas emissions. While it appears increasingly unlikely that Congress will take up energy or climate legislation during the current session, there is a growing consensus among business leaders that meaningful progress can be made in mitigating emissions and energy use by embracing new tools and approaches into their business models. Debunking the notion that sustainability and profitability are mutually exclusive corporate goals, a recent CEO survey on sustainability released by Accenture, found that sustainability is being recognized as a source of cost efficiencies and revenue growth. In fact, 80 percent of the more than 760 CEOs surveyed indicated that the downturn has only served to raise the importance of sustainability for their businesses. What’s driving this dramatic shift in behavior is the growing realization that achieving energy efficiency is not only good for the environment and reducing U.S. dependence on foreign oil, but can deliver financial returns that can far outweigh the initial investment and can readily be turned into an opportunity for savings that can boost bottom lines. To realize a more sustainable energy future, it is necessary to change how we produce and consume fossil fuels. Changing production is a slow route that is principally limited to progress in the energy sector. Reducing consumption, however, can happen faster and have a far greater impact across the entire economy. And that’s particularly true if it’s based on simple, traditional economic theory that dictates that the best way to encourage consumer behavior is to change the equation — by removing the effort, or cost of taking positive action and delivering immediate gratification or savings. For example, the overwhelming response to some of the government’s recent tax rebate programs showed just how powerful immediate cost savings can be as a motivator in achieving positive environmental outcomes. For example consumer response to instant vehicle rebates overwhelmed original projections, with 677,000 older vehicles being swapped for more efficient models in a matter of weeks, resulting in an impressive annual reduction of 1.5 million metric tons of CO2. For U.S. businesses, one of the fastest routes to emissions reduction and energy savings is being achieved through the deployment and use of “smart networks.” Smart networks leverage a powerful “network offset effect” that occurs when replacing carbon-intensive activities – such as travel – with less carbon intensive technologies. The simple fact is that the energy required to communicate is much less than the energy required to physically move people and things around. By using technology to leapfrog the old, physical infrastructure we can move work to people rather than people to work; connect rather than travel; manage business remotely and in real-time; and improve transportation and distribution system efficiencies Demonstrating how travel replacement can reduce costs targets some of the lowest hanging fruit for reducing energy consumption in the U.S. Telepresence and other forms of virtual collaboration that can replace some business travel represent perhaps the most promising opportunity for businesses to start capturing significant emissions reduction benefits in the near-term, with relatively minor changes to existing business processes – i.e., removing the “effort” in the cost equation. Telepresesence, a high-definition videoconferencing technology which enables groups of people to meet “in person” in multiple locations worldwide – holds even greater promise for unlocking the sustainability benefits of travel replacement. A recently released study commissioned by the Carbon Disclosure Project and produced by independent analyst firm, Verdantix, found that if the largest US and UK businesses (> $1 billion revenues) were to substitute telepresence for some business travel, they could cut CO2 emissions by nearly 5.5 million metric tons by 2020- equivalent to removing more than one million passenger vehicles from the road for one year. And with the systems achieving payback in only 15 months, the study found that total economy-wide financial benefits of almost $19 billion could be achieved in the same timeframe. The study also revealed that telepresence technology can help speed decision-making, improve employee productivity, and provide workers with a better work-life balance – delivering a host of immediate benefits above and beyond cost savings to motivate positive behavior in reducing emissions. Harnessing smart networks that leverage the network offset effect to deliver immediate energy efficiencies and cost savings to businesses just might be the right economic equation to motivate the positive behaviors and actions required to deliver significant progress in addressing energy efficiency and emissions reduction. And it’s an approach that can help businesses make smarter sustainability choices and investments today that better prepare them for whatever challenges may lie ahead. Daniel T. Walsh is a Senior Vice President in Marketing Services for AT&T Business Solutions.

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Video: Diller Says Daily Beast, Newsweek Talks Ended `Amicably’: Video

October 25, 2010

Oct. 25 (Bloomberg) — Barry Diller, chairman and chief executive officer at IAC/InterActiveCorp, talks about the end of merger talks between the Daily Beast website and Newsweek magazine, and his decision to resign as chairman of Live Nation Entertainment Inc. Diller, speaking with Carol Massar on Bloomberg Television’s “Street Smart” on Oct. 22, also discusses the outlook for the Ask.com search site. (Source: Bloomberg)

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Job Creation Idea No. 8: Time For A New WPA

October 8, 2010

(No. 8 in Huffington Post’s America Needs Jobs series.) There is, of course, a precedent for the country facing a massive, sustained unemployment crisis. There is also a precedent for solving it. So why won’t President Obama at least try to do what Franklin Delano Roosevelt did during the great Depression? Back then, of course, the federal government directly employed millions of Americans, most notably through the Works Progress Administration (WPA) and the Civilian Conservation Corps (CCC). Government paychecks went to men and women who planted trees, constructed state parks, created great works of art and built bridges, dams and other structures that remain to this day among the nation’s finest and most inspiring public works Today’s WPA could do some of that — as well as turn abandoned neighborhoods into urban parks, clean up the Gulf region, care for senior citizens and young children, bury utility lines, kill kudzu and tutor students. Anecdotally , at least, there seem to be plenty of people who would relish the opportunity to get back to work doing something — maybe even anything — for a government paycheck. Given today’s deadly political dynamics, of course, such a plan would face dim prospects in Congress. But Obama hasn’t even tried. He hasn’t proposed anything remotely that ambitious. Nor has he put much effort into changing those political dynamics. By contrast, the scale of the problem is simply immense. In a previous installment of my America Needs Jobs series, I wrote about ideas for putting young people to work . There are 4 million people ages 16 to 24 who are considered officially unemployed — plus another 1.5 million or so who have given up the job hunt entirely. That’s a total of 5.5 million. Americorps , the closest thing we have to the CCC right now, only has room for 75,000. When you include older workers, the total number of unemployed rises to nearly 15 million, plus another nearly 11 million too discouraged to even look for work. That’s a lot of jobs that need creating. So, as Yale economist Robert J. Shiller writes in the New York Times: Why not use government policy to directly create jobs — labor-intensive service jobs in fields like education, public health and safety, urban infrastructure maintenance, youth programs, elder care, conservation, arts and letters, and scientific research? Would this be an effective use of resources? From the standpoint of economic theory, government expenditures in such areas often provide benefits that are not being produced by the market economy. “If the private sector can’t put people back to work, then the public sector must,” reasons the Economic Policy Institute . As part of its five-point plan to stem the unemployment crisis, the progressive group calls for spending $40 billion per year for three years on a public service jobs that would put one million people back to work. Among the details: During the first six to nine months, the program would fund fast-track jobs. Projects would be limited to a discrete list of activities in order to allow for quick implementation and large-scale employment. This fast-track authority should be carefully defined to prevent abuses. It should be limited to four areas that reflect national priorities and demonstrate a high potential impact for aggregate job creation: neighborhood/community improvement, child health and development, access to public services, and public safety. Fast-track jobs might include, for example: • cleaning up of abandoned and vacant properties to alleviate blight in distressed and foreclosure-affected neighborhoods; • staffing emergency food programs to reduce hunger and promote family stability; • working in Head Start, child care, and other early childhood education programs to promote school readiness and early literacy; • renovating and maintaining parks, playgrounds, and other public spaces. University of Texas economist James Galbraith favors “a Neighborhood Corps to protect, maintain and revitalize (or as necessary demolish) distressed housing, and a Home Care corps to provide services to the elderly in their own homes.” Robert Borosage, co-director of the Campaign for America’s Future, likes the Neighborhood Corps idea because “you get young people to work, you give them some skills, and your raise housing values in neighborhoods that are getting hammered” by the financial crisis. Former CEO Leo Hindery argues on behalf of “community-based job creation programs for restoring the environment, providing child care and tutoring, cleaning up abandoned buildings, and maintaining parks and public spaces.” He also wants to create a “Teacher’s Aid Corps.” A New Policy Institute working paper calls for a “series of big, aspirational regional projects.” The massive, still-nascent Gulf recovery plan “offers a working laboratory to think and work at this scale,” the report suggests. And speaking of scale, architecture critic Justin Davidson calls for “a Calatrava over the Hudson” — by which he means some sort of stunning structure designed by Santiago Calatrava . Davidson argues: In 1933, when Franklin Delano Roosevelt took office, much of the country was making do with Victorian bridges, horse-and-buggy roads, and improvised sanitation. FDR began binding the country together with sinews of concrete and cable. We need to do for the 21st century what FDR did for the twentieth–invest in worn-out highways, our frail electrical grid, our public transit, brittle bridges, and water supplies. A new New Deal, equipped with an Obama-era version of the Works Progress Administration, could put millions back to work, modernize the country, nudge the economy towards recovery, and produce a barrage of working monuments. HuffPost readers, who have been emailing me in droves, seem particularly enamored of the idea of New Deal-style direct government employment. Reader John Rings writes: “A very quick way to get Americans back to work is to clean up America. Throughout this country there are structures that are vacant and will never be used again but they are abandoned. There are old factories and storefronts and city block after block of uninhabitable houses…. We could put people to work right away doing demolition of these structures.” Greg Tompkins of Portland, Oregon, writes: “Put young and old alike on projects like eradicating invasive species, replanting native species in their place and making trails! Maybe even put the masses to work laying out the smart grid and placing solar panels atop every large building in America? Put the older folks to manage projects so they don’t have to do something too physical. Can you imagine how great it would be to make a huge dent in the invasive species problem alone? I’m unemployed myself and am 35. I wouldn’t mind at all to help in such an endeavor.” Reader Patrick Kubin writes: “The depression did not end until the government made jobs; think CCC. Do the same thing now: how about Noxious Weed Eradication programs? Every state has a weed problem: kudzu in the south, blackberries and scotch broom in the NW, saltcedar in the SW. This is unskilled labor. “The fed gov pays $10 per hour, 40 hours per week to employ people to chop, dig and spray weeds. The REAL incentive is that the whole family of the worker gets Medicare health coverage. They will line up for miles for these jobs. And lots of new college grads will be employed mapping weed eradication locations. Only US made tools may be used.” J. William Thomas of Hartford, NY, writes: “The government can also start a huge program of placing all utilities underground. This will create jobs and reduce the exposure of our utilities to the elements during storms. That will also reduce cost to corporations ultimately and we should realize those savings over the years.” Nick Taylor, the author of American-Made: The Enduring Legacy of the WPA: When FDR Put the Nation to Work , writes in a recent Los Angeles Times op-ed that Obama truly does face an FDR moment. “Obama’s experience so far resembles FDR’s first uneven stabs at job creation,” Taylor writes. Soon after Roosevelt took office, with the unemployment rate at 24.9%, he created the Civilian Conservation Corps, his first jobs program — but it wasn’t nearly enough. His critics accused him of socialism and fretted publicly that large deficits would ruin the country. They insisted that workers would grow so accustomed to public jobs that they could never be weaned off the government’s largesse. But despite his vocal opponents, in January 1935, FDR announced his intention to launch the massive jobs program that became the Works Progress Administration. The president’s promise that the country would “see the dirt fly” was realized that fall, more than two years after he took office. The WPA addressed a range of long-standing infrastructure needs, including roads and bridges, hospitals and water treatment plants, and airports. Its workers fought floods and forest fires and cleaned up after hurricanes. Its sewing rooms made clothing and blankets that went out to disaster victims. The WPA also employed nurses, doctors, teachers, librarians and artists. By the fall of 1936, 3.3 million people were on the WPA payroll. The stimulus provided by those jobs buoyed the economy. By the spring of 1937, after Roosevelt’s landslide reelection, the country’s unemployment rate had dropped to 14%….. The WPA helped create a modern country and produced physical and cultural legacies that are still appreciated. Obama could use his considerable eloquence to re-create that vision. An America prepared today to meet the future will be applauded long after this recession is consigned to the history books. It’s a vision he hasn’t given us so far. ************************* COMING NEXT IN THE AMERICA NEEDS JOBS SERIES: Make The Banks Lend More Or Else Have you missed any of the previous installments of HuffPost’s America Needs Jobs series? Read the introduction , Idea No. 1: A Payroll Tax Holiday , No. 2: Rescue The States , No. 3: The Joys Of Retrofitting , No. 4: Put Young People To Work , No. 5: Gearing Up For Climate Change , No. 6: Sharing The Pain Of Layoffs , and No. 7: Drawing A Line With China . Got an idea you think we may be overlooking? Email froomkin@huffingtonpost.com . ************************* Dan Froomkin is senior Washington correspondent for the Huffington Post. You can send him an e-mail , bookmark his page ; subscribe to RSS feed , follow him on Twitter , friend him on Facebook , and/or become a fan and get e-mail alerts when he writes.

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Video: Adams Doesn’t See Currency `War’; Rather, `Frustrations’: Video

October 7, 2010

Oct. 7 (Bloomberg) — Tim Adams, a former U.S. Treasury undersecretary in the George W. Bush administration, talks about the outlook for global currency imbalances. Adams speaks with Peter Cook on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: John Frisbie Says House China Legislation Is `Wrong’: Video

September 29, 2010

Sept. 29 (Bloomberg) — John Frisbie, president of the U.S. China Business Council, talks about the outlook for U.S. legislation aimed at prodding China to raise the value of its currency. Frisbie says the bill is the “wrong way” to get China to revalue the yuan. He talks with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Palma Says Yuan Legislation Like `Giant Game of Chicken’: Video

September 29, 2010

Sept. 29 (Bloomberg) — Jeff Palma, global equity strategist at UBS AG, talks about U.S. legislation designed to prod China to raise the value of its currency. Palma, speaking with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart,” also discusses his investment strategy and the U.S. stock market. (Source: Bloomberg)

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Video: Hormats Says U.S. Can Double Exports in Five Years: Video

September 27, 2010

Sept. 27 (Bloomberg) — Robert Hormats, U.S. undersecretary of state for economic affairs, talks about a White House initiative to double exports over five years as a driver of economic growth. Hormats, speaking with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart,” also talks about U.S.-China trade issues. (Source: Bloomberg)

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Waylon Lewis: Whole Foods Dumps Silk Soy (VIDEO)

September 25, 2010

Whole Foods will no longer carry Dean Foods’ Silk Soy milk–instead goes with organic brands. Last year, Silk Soy–while continuing to offer a somewhat higher-priced organic option– pushed the majority of its soy milk to “natural” (the beans still weren’t genetically modified [GMO], which is great). It was a blow to the green movement–and one that changed Silk, overnight, from the world’s largest organic brand into, well, not. Recently, I interviewed my friends at the Dean Foods-owned White Wave/Silk Soy about their decision to go “natural.” To their credit, they were open about the up- and downsides. See the second half of the below video of elephant editor Waylon Lewis’ adventure at the recent Natural Products Expo West in LA, here: Whole Foods dumps Silk Soy. Silk, started by one of Boulder, Colorado’s natural products titans, Steve Demos , and now owned and controlled by mega-corp Dean Foods, was just dealt what must come as a pretty big blow–they’ve been cleaved from their strongest customer base–the conscious consumers who built Silk, back when it was owned by Mr. Demos, into a major player and first real alternative to milk. For more, click here or here or here or here . Or here . Excerpt via Planet Green : The Cornucopia Institute claimed victory against the largest soymilk producer in the country this week, after a landmark deal with Whole Foods: “Saying that its relationship with Dean Foods had ‘chilled,’ Whole Foods indicated it was bringing in a new branded organic soymilk partner, Earth Balance…’Dean Foods has been roundly criticized for taking the organic out of Silk, and now the marketplace and consumers are passing their judgment,’ said Mark Kastel, Cornucopia’s senior farm policy analyst. ‘They took what once was a pioneering 100% organic brand, before they acquired the company in 2003, and cheapened the product at the expense of American farmers and consumers. Now they are paying a price for their naked profiteering,’ Kastel added.” In addition, Whole Foods wants Earth Balance’s soymilk products to be made strictly from soybeans grown in the U.S. That stipulation likely comes as a direct response to Silk’s initial shift–even before it gave up on organic–away from domestic soybeans when it started sourcing (organic, at first) from China. …for the rest, click here. Excerpt via elephriend Alica Wallace of Boulder Daily Camera: Move comes in wake of WhiteWave shifting Silk away from certified organic soybeans Fourteen years ago, a burgeoning Boulder company — WhiteWave Inc. — was responsible for launching Silk soymilk, a brand that is now the category leader. So when Whole Foods Market wanted to boost its organic soymilk options a year after Dean Foods’ WhiteWave Foods shifted most of its Silk products away from certified organic soybeans, the Austin, Texas, grocer turned to a burgeoning Boulder County firm — one stocked with former White Wave employees. Whole Foods this week announced an agreement with Longmont-based Earth Balance under which the natural foods division of New Jersey-based spreads company Smart Balance Inc. would launch its line of organic soymilks at Whole Foods stores nationwide… for the rest, click here. I’ll leave you with a remarkable, though tangential factoid: “The NY Times reports that Silk spent $29.1 million on advertising in major media last year.” Whew!

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Wendy N. Powell: An Unscientific, but Remarkable Explanation of the Wage Gender Gap

September 23, 2010

Women in the workplace from Baby Boomers to Generation Y, a think tank of respected opinions, a five-state search for truth When we hear the wage gap — 77 cents to the dollar — we all gasp, suck in the air, and respond with some quick opinions. We all have a unique take on the salary issue from “Men just want to keep women down,” to the common response, “It’s just the way it is.” Many of us don’t know how this figure was derived. This 77.9 cent/dollar figure was calculated by the U.S. Census using the American Community Survey Report from 2008. This data considers all employees working 36 hours per week or more year-round. It is raw data. It’s not adjusted for working parents who take time off for school breaks, family obligations, etc. It doesn’t include statistics about how many hours a week in overtime the person works or what type of profession, hard or soft sciences. It leaves a lot to individual interpretation. Twenty years ago, I thought being in the human resources field meant I could explain the gap. In 1990, it was 71.6 cents/dollar , not much different from where we are today. Of course, I evaluated salaries based upon a sum of education and experience related to the job. Because many women did not possess the breadth of experience of their male counterparts at that time, the wage disparity made sense. Yes, I thought, it will take many years to remedy the gap but it will correct itself. But now I know there is much more to this issue than the raw data at hand. Being on the quest for the answer, I looked to my smart, experienced family, colleagues, and friends to get answers. My informal “think tank” included women of all generations and a couple of wise men. My question to them was simply, “Why does this salary gap exist?” One incredibly talented young professional, Kelly, had an intuitive response that spans the generations. Our current economic strife creates an additional hurdle for those of us trying to secure well-paying jobs. “It seems that women in the workforce are in a catch 22. We are not happy with the salaries we receive, however we are not in a position to turn them down.” This may fuel the ”settling” and ”accepting” epidemic plaguing women’s careers; we can’t shop for the highest bidder. Are women hired at lesser salaries because employers can get away with it in this economy? “I will accept whatever they offer me to get my foot in the door.” Some in my think tank thought that if a woman stops her career to raise children, attend to an aging parent, and other such events, her return to the active workforce has a negative effect on her salary. It’s always been that way, right? Men are the providers, and women are the nurturers. When a need arises, you can count on the women of the family to “do the right thing” and take care of the problem. In fact, women experience absences covered under the Family and Medical Leave Act at the rate of 16 percent higher than men . And of course, since the women make less money in many cases, they will be the ones to take the time off so the family doesn’t take as much of a “hit” in wages. “You don’t need a raise; you have a husband.” Do women want to work the demanding and long working hours to get ahead? Many women tend to gravitate to the “softer” professions, social work, nursing, teaching, human resources where earning potential is not as substantial as litigators or surgeons. I recall one talented administrative assistant who would be next in line for a promotion. When I suggested that she take a couple of accounting classes to get ready for the next level, she said, “I don’t want to. I am where I want to be and don’t pressure me about that promotion.” She did not possess the drive to get ahead in the workplace; her priorities were different. “I can’t give you the promotion because you’re too good at what you do.” What about appearance? Oh yes, beauty matters for women at work. A polished and attractive woman who is not overweight yields a job offer with a better salary. One study by the Federal Reserve Bank of St. Louis in 2007 revealed that attractive people earn five percent more and obese women earn 17 percent less than their slimmer colleagues. Women of the workplace, I conclude that we become resolved to our own opinions and choices. Of course, there is a dose of traditional values, some discriminatory practices, some personal preferences, our natural preponderance to care giving and nurturing. They all exist in the business world. They just don’t apply to all of us, at the same time, and in the same way. I see young girls wearing glittery shirts that say, “Girl Power” and, “I’m a princess, just get used to it,” and I’m hopeful that the next generation of young women will speak their piece. What do you do if you have a discrimination claim concerning your salary? Visit: http://www.eeoc.gov/laws/types/sex.cfm . You will find a process to file a claim and possible remedies including mediation. Keep your eye on the Bureau of Labor Statistics for salary trends. The Department of Labor publishes the median usual weekly earnings by occupation and sex. Special thanks: Dr. Gail Ali, Florida; Kelly Jansen, Illinois; Rachel Kapur, New York; Bridget O’Connor, Florida; Marsha Grimm, Florida; Judie Steele, Michigan; Suzanne Mueller, Michigan; Lynne LeFebvre, Michigan; Suzanne Kaplan, Michigan; Sherry Pedigo, Florida; Lora Bruder, Michigan; Tammy Grimm, Florida; Diane Savko, Pennsylvania; Terry Powell, Florida; Ryan Powell, Florida; Barry Grimm, Florida; George Savko, Pennsylvania

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Video: Barney Frank Says Basel Rules `Important Step Forward’: Video

September 22, 2010

Sept. 22 (Bloomberg) — U.S. House Financial Services Committee Chairman Barney Frank, a Democrat from Massachusetts, talks about new Basel III rules on capital requirements for banks and possible sanctions against China over that nation’s currency policy. Frank, speaking with Peter Cook on Bloomberg Television’s “Street Smart,” also discusses Elizabeth Warren’s job setting up the new Consumer Financial Protection Bureau and the planned departure of Lawrence Summers from the National Economic Council. (Source: Bloomberg)

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Video: Forman Says ExpertConsensus Panels Can Cost $20,000: Video

September 21, 2010

Sept. 21 (Bloomberg) — ExpertConsensus Chief Executive Officer Richard D. Forman talks about his company which convenes panels of top specialists to generate treatment plans for people with confounding illnesses. Forman talks with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Hubbard Proposes Using GSEs to Help Mortgage Refinancing: Video

September 20, 2010

Sept. 20 (Bloomberg) — Glenn Hubbard, dean of Columbia University’s Graduate School of Business, talks about his support for extension of the Bush-era tax cuts and proposal to use government-sponsored enterprises to make it easier and quicker for homeowners to refinance their mortgages. Hubbard, speaking with Matt Miller on Bloomberg Television’s “Street Smart,” also discusses the access of small businesses to credit. (Source: Bloomberg)

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Robert Reich: The Defining Issue: Who Should Get the Tax Cut — The Rich or Everyone Else?

September 19, 2010

Who deserves a tax cut more: the top 2 percent — whose wages and benefits are higher than ever, and among whose ranks are the CEOs and Wall Street mavens whose antics have sliced jobs and wages and nearly destroyed the American economy — or the rest of us? Not a bad issue for Democrats to run on this fall, or in 2012. Republicans are hell bent on demanding an extension of the Bush tax cut for their patrons at the top, or else they’ll pull the plug on tax cuts for the middle class. This is a gift for the Democrats. But before this can be a defining election issue in the midterms, Democrats have to bring it to a vote. And they’ve got to do it in the next few weeks, not wait until a lame-duck session after Election Day. Plus, they have to stick together (Ben Nelson, are you hearing me? House blue-dogs, do you read me? Peter Orszag, will you get some sense?) Not only is this smart politics. It’s smart economics. The rich spend a far smaller portion of their money than anyone else because, hey, they’re rich. That means continuing the Bush tax cut for them wouldn’t stimulate much demand or create many jobs. But it would blow a giant hole in the budget — $36 billion next year, $700 billion over ten years. Millionaire households would get a windfall of $31 billion next year alone. And the Republican charge that restoring the Clinton tax rates for the rich would hurt the economy — because it would reduce the “incentives” of the rich (including the richest small business owners) to create jobs — is ludicrous. Under Bill Clinton and his tax rates, the economy roared. It created 22 million jobs. By contrast, during George Bush’s 8 years, commencing with his big 2001 tax cut, the economy created only 8 million jobs. And as the new Census data show, nothing trickled down. In fact, the middle class families did far worse after the Bush tax cut. Between 2001 and 2007 — even before we were plunged into the Great Recession — the median wage dropped. It’s an issue that could also be used to expose the giant chasm that’s opened between the rich and everyone else — aided and abetted by Republican policies. As I’ve noted before, in the late 1970s, the top 1 percent got 9 percent of total national income. By 2007, the top 1 percent got almost a quarter of total national income. These figures don’t even count in taxes. The $1.3 trillion Bush tax cut of 2001 was a huge windfall for people earning over $500,000 a year. They got about 40 percent of its benefits. The Bush tax cut of 2003 was even better for high rollers. Those with net incomes of about $1 million got an average tax cut of $90,000 a year. Yet taxes on the typical middle-income family dropped just $217. Many lower-income families, who still paid payroll taxes, got nothing back at all. And, again, nothing trickled down. As I’ve emphasized, the U.S. economy has suffered mightily from the middle class’s lack of purchasing power, while most of the economic gains have gone to the top. (The crisis was masked for years by women moving into paid work, everyone working longer hours, and, more recently, the middle class going into deep debt — but all those coping mechanisms are now exhausted.) The great challenge ahead is to widen the circle of prosperity so the middle class once again has the capacity to keep the economy going. In other words, this is the right issue. It’s the right time. It allows Democrats to explain what the Bush tax cuts really did, why supply-side economics is bogus, and the economic challenge ahead. Even if Democrats feel they have to respond to the Republican charge that taxes shouldn’t be raised on anyone when the employment rate is 9.6 percent, they have a powerful fallback: Extend the Bush tax cuts for everyone through 2011, then end them for the rich while making them permanent for the middle class. Get it, Democrats? Please don’t blow it this time. This post originally appeared at robertreich.org

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Video: David Levy Sees 60% Chance of Another U.S. Recession: Video

September 16, 2010

Sept. 16 (Bloomberg) — David Levy, chairman of the Jerome Levy Forecasting Center, talks about the outlook for the U.S. economy. Levy, speaking with Carol Massar, Matt Miller and Michael McKee on Bloomberg Television’s “Street Smart,” also discusses China’s currency policy and the U.S. dollar. (Source: Bloomberg)

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Video: Shaw Wu Says Cisco Planned First Dividend Is `Good Move’: Video

September 14, 2010

Sept. 14 (Bloomberg) — Shaw Wu, an analyst at Kaufman Bros., talks about Cisco Systems Inc.’s plan to issue the company’s first dividend this fiscal year. Wu, speaking with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart,” also discusses Microsoft’s planned dividend and the outlook for the technology industry. (Source: Bloomberg)

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Anthony Tjan: The Next Big Movement: Natural Conversations

September 13, 2010

In the days of the Wild West — at least the West according Clint Eastwood and Hollywood — the pinnacle of a challenge was the high-noon, quick-draw showdown. “Let’s do it then, high noon, tomorrow.” And two men, starting back-to-back, would count fifteen paces and turn around to fire at each other. Things would be settled; results would be final. Today’s quick draw doesn’t have quite the same drama and stakes as Colt pistols and cowboys. It has moved from the quick finger on the trigger to the quick thumb on the smart phone to win a digital sparring contest in search of facts or verification. Now, allow me to explain: There used to be a time when you could go to have a lunch or dinner with someone and you could have, well, lunch or dinner. During that lunch or dinner you could reasonably expect uninterrupted conversation. Such Mad Men-like days are long over, just as the concept of it being rude to bring a cell phone or BlackBerry to a dinner is so early 1990s. The quick message peek, the quick text, and the occasional answering of an incoming call seem increasingly acceptable, even expected. This is not even to mention Tweeting out real-time doings and checking in with Four Square. One of my closest friends, a partner at one of the most respected venture firms, recently remarked that in the Valley (the Silicon one) it is almost considered impolite NOT to let your guest text, call, message, tweet, check in or whatever during a meal or meeting. While I may be as guilty as anyone of trying to sneak a glance at new messages or discretely thumb an under-the-table text during a dinner, I am feeling the need for us to return to the concept of a natural conversation, uninterrupted by technology. (More on that in a bit.) Conversations today are constantly hijacked by digital fact-checkers. Every fact or statement, it seems, must be checked or augmented in real time with at-our-fingertips online information. We no longer trust each other to come up with good-enough facts or allow each other add colorful embellishment to our stories. Let me give a recent example to make my point. Over lunch the other day, I shared a story with my colleagues — the surreal experience of being accidentally given a presidential suite at a Four Seasons Hotel. “This was an amazing room, probably 3000+ square feet with over-the-top appointments everywhere,” I said. No more than two minutes after making the statement, an associate checked on his BlackBerry the size of the presidential suite, correcting me that it was closer to 2000 square feet. What happened to natural conversations, those based on what is already in our heads, unburdened by verification? As the fast food movement has seen an opposing slow food movement take hold and shape, I predict we’ll soon see a similar desire for putting down for a moment all the “information enhancements” that come with mobile, digital-sparring tools. Even those of us who fund, embrace, and love technology may want to push for this, because the free flow of ideas is more important to us than technology. While precision and perfection are important when it comes to raising funds or closing a deal, big ideas don’t thrive amid constant critique and an obsessive focus on the minutia. When we want innovation, we must focus on open and free thinking and the storytelling that often accompanies it. This article first appeared on Harvard Business Publishing on July 2, 2010.

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Anthony Tjan: The Next Big Movement: Natural Conversations

September 13, 2010

In the days of the Wild West — at least the West according Clint Eastwood and Hollywood — the pinnacle of a challenge was the high-noon, quick-draw showdown. “Let’s do it then, high noon, tomorrow.” And two men, starting back-to-back, would count fifteen paces and turn around to fire at each other. Things would be settled; results would be final. Today’s quick draw doesn’t have quite the same drama and stakes as Colt pistols and cowboys. It has moved from the quick finger on the trigger to the quick thumb on the smart phone to win a digital sparring contest in search of facts or verification. Now, allow me to explain: There used to be a time when you could go to have a lunch or dinner with someone and you could have, well, lunch or dinner. During that lunch or dinner you could reasonably expect uninterrupted conversation. Such Mad Men-like days are long over, just as the concept of it being rude to bring a cell phone or BlackBerry to a dinner is so early 1990s. The quick message peek, the quick text, and the occasional answering of an incoming call seem increasingly acceptable, even expected. This is not even to mention Tweeting out real-time doings and checking in with Four Square. One of my closest friends, a partner at one of the most respected venture firms, recently remarked that in the Valley (the Silicon one) it is almost considered impolite NOT to let your guest text, call, message, tweet, check in or whatever during a meal or meeting. While I may be as guilty as anyone of trying to sneak a glance at new messages or discretely thumb an under-the-table text during a dinner, I am feeling the need for us to return to the concept of a natural conversation, uninterrupted by technology. (More on that in a bit.) Conversations today are constantly hijacked by digital fact-checkers. Every fact or statement, it seems, must be checked or augmented in real time with at-our-fingertips online information. We no longer trust each other to come up with good-enough facts or allow each other add colorful embellishment to our stories. Let me give a recent example to make my point. Over lunch the other day, I shared a story with my colleagues — the surreal experience of being accidentally given a presidential suite at a Four Seasons Hotel. “This was an amazing room, probably 3000+ square feet with over-the-top appointments everywhere,” I said. No more than two minutes after making the statement, an associate checked on his BlackBerry the size of the presidential suite, correcting me that it was closer to 2000 square feet. What happened to natural conversations, those based on what is already in our heads, unburdened by verification? As the fast food movement has seen an opposing slow food movement take hold and shape, I predict we’ll soon see a similar desire for putting down for a moment all the “information enhancements” that come with mobile, digital-sparring tools. Even those of us who fund, embrace, and love technology may want to push for this, because the free flow of ideas is more important to us than technology. While precision and perfection are important when it comes to raising funds or closing a deal, big ideas don’t thrive amid constant critique and an obsessive focus on the minutia. When we want innovation, we must focus on open and free thinking and the storytelling that often accompanies it. This article first appeared on Harvard Business Publishing on July 2, 2010.

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Video: David Stockman Says Banking System Remains at Risk: Video

September 9, 2010

Sept. 9 (Bloomberg) — David Stockman, a former budget director in the Reagan administration, talks about about the state of the banking system. Stockman, speaking with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart,” also discusses the role of the Federal Reserve in the financial crisis and the challenge of the U.S. government’s debt. (Source: Bloomberg)

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Video: Hatch Says Government Must Cut Spending, Revamp Tax Code: Video

September 8, 2010

Sept. 8 (Bloomberg) — U.S. Senator Orrin Hatch, a Utah Republican, talks about the need to cut government spending and change tax policy. Hatch, speaking with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart,” also discusses President Barack Obama’s proposals for spurring economic growth. (Source: Bloomberg)

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Video: Knapp Expects September to Be `Tough’ for U.S. Stocks: Video

August 31, 2010

Aug. 31 (Bloomberg) — Barry Knapp, the chief U.S. equity strategist at Barclays Capital Inc., talks about the outlook for the U.S. stock market. Barry Knapp, speaking with Matt Miller, Carol Massar, Julie Hyman and Dominic Chu on Bloomberg Television’s “Street Smart,” also discusses Federal Reserve policy, investor sentiment and the U.S. economy. PTI Securities & Futures LP’s Daniel Haugh also speaks. (Source: Bloomberg)

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Noah Mallin: Digital: Mad Men Google Bombing For Fun – and Profit?

August 26, 2010

On last Sunday’s episode of AMC’s period ad drama Mad Men , John Slattery’s World War II vet Roger Sterling exploded in rage at the prospect of pitching to a Japanese client: “Why don’t we just bring Dr. Lyle Evans in here?” The other characters draw a blank on who exactly Dr. Lyle Evans is. As Vanity Fair and others pointed out within minutes the Internet surged with the same question – who is Dr. Lyle Evans? Google searches on the name skyrocketed. Initial speculation was that Mad Men creator Matt Weiner and the show’s writers had created the name as a so-called “Google bomb”, a prank intended to drive a made-up name into trending search charts. So far that still seems to be the case, though some have pointed (check the comments in the Vanity Fair link) to the character of Evan Llewellyn Evans played by Sydney Greenstreet in the classic ad movie The Hucksters as the source of the reference. If it was planted on purpose though, could it also have been for another reason beyond the fun of influencing the behavior of a large group of strangers online? This is entirely speculative, but consider the value of product placement within television shows, a practice that has been on the upswing of late. Typically though the results of such placements can be hard to measure, especially when the product is woven organically into the show’s storyline (as it should be.) How do you prove effectiveness? Search engine queries are a great start. The immediate online response of a big swath of viewers to a show that already offers a dense tapestry of historical references and Easter eggs is hard to beat. What better way to show this influence over fans? This got me to thinking on a broader level about how my fellow modern day ad colleagues look at data to guide strategy and measure results. Sometimes it can be helpful to go off the beaten path and look at non-traditional sources of measurement for inspiration. Take a blog post I read recently about a press release from GM’s OnStar division, which offers drivers turn-by-turn navigation to destinations. The press release listed the Top 10 destinations drivers had used OnStar to search for by brand: 1. Wal-Mart 2. Holiday Inn 3. Home Depot 4. Walgreens 5. Marriott 6. McDonald’s 7. Bank of America 8. Starbucks 9. Target 10. Hampton Inn My first thought was that people may need gas but they don’t seem to care what brand they get it from. The second was that every single one of the brands in the Top 10 ought to be thinking about the power of mobile search ads. Plenty of people use their smart phones to find local destinations while driving (hopefully with the help of a non-driving passenger). What a great additional proof point to bring this home. The fact that an in-car navigation system can tell us about the potential of advertising on mobile devices, and search volume on Google can give insight into the behavior of television viewers brings home the fact that we tend to be doing many things at once these days. We search (and make phone calls) while driving and watching TV, we watch TV and buy things online simultaneously, we work and chat with pals on Facebook at the same time. As our activities multiply, the need to vary the data sources that help us understand this is vital .

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Video: Cliggott Says U.S. Government `Frozen’ on Fiscal Policy: Video

August 26, 2010

Aug. 26 (Bloomberg) — Doug Cliggott, U.S. equity strategist with Credit Suisse, and John Brady, senior vice president at MF Global, talk about the outlook for U.S. stocks and bonds, Federal Reserve monetary policy and U.S. government fiscal policy. They speak with Matt Miller, Julie Hyman and Dominic Chu on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Lashinsky Sees U.S. Home Prices Falling `Little More’: Video

August 25, 2010

Aug. 25 (Bloomberg) — Patrick Lashinsky, chief executive officer at ZipRealty Inc., talks about the outlook for the U.S. housing market. Lashinsky says he sees home prices falling “a little bit more.” He speaks with Matt Miller on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Larry Lucchino Says Red Sox Haven’t Raised `White Flag’: Video

August 18, 2010

Aug. 18 (Bloomberg) — Larry Lucchino, president and chief executive officer of the Boston Red Sox, talks about his team’s 2010 season. Lucchino, speaking with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart,” also discusses competition in baseball, the team’s television ratings and the legacy of deceased New York Yankees owner George Steinbrenner. (Source: Bloomberg)

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Video: Feder Says U.S. Housing Market May Have Bottom Fall Out: Video

August 16, 2010

Aug. 16 (Bloomberg) — Michael Feder, chief executive officer of Radar Logic Inc., talks about the outlook for the U.S. housing market. Feder, speaking with Matt Miller and Carol Massar on Bloomberg Television’s “Street Smart,” also discusses the Obama administration’s efforts to prevent foreclosures and plans to overhaul Fannie Mae and Freddie Mac. (Source: Bloomberg)

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Francine Hardaway: Jobs, Jobs, Jobs (or Not)

August 16, 2010

Watching the Sunday talk shows and the nightly cable rants, the subject of jobs comes up over and over again. People cannot get jobs. And yet some employers say they can’t get people. Even with LinkedIn, Facebook, Twitter, Jobing, Monster, and talent management software inside every enterprise, we are not hooking people up correctly to opportunity, and it’s beginning to show. According to the Kauffman Foundation, most jobs are generated by new companies, companies less than five years old and those jobs have long lasting value. On the other hand, Exposure to prolonged or repeated recessions, however, does adversely affect job creation. Firms that weather many recession years seem to consistently have lower levels of employment, the study showed, with startups surviving through three recession years having about 10 percent less employment than those surviving through none. This amounts to a difference of about 300,000 jobs, or around 0.2 percent of all jobs in the economy. While the number of jobs lost due to prolonged or repeated recessions appears to be small, these small differences might compound over the years and across groups of companies to create a lasting mark on the economy. The current recession is the longest in several years; thus, startups established right before or at the beginning of the current recession might have been significantly affected. Which is probably why companies that have been through recessions don’t immediately re-hire when the government statistics tell them the recession is over. This recession was a bit different, in that fewer laid off people started companies than previously. Economists are still trying to figure that one out. Me, I think people are just shell-shocked by the real estate recession, the wild ride on Wall Street, and a slew of natural disasters. It’s a wonder anyone gets out of bed. However, we’ve got to get these new company formations moving again. The question all entrepreneurs should be asking each other is what can we sell that people need, that involves people? Almost like a commune for the country? Can we get together and create a new reality? And if we come up with the ideas, there is definitely venture capital and angel capital to fund them. It just doesn’t want to fund another “me too” idea. I’ve written about this before, and I’ve suggested infrastructure. Why not build the smart grid? Or the new water and sewer purification system? I also think small businesses are underserved. What about more micro-finance to disrupt the big banks that keep cutting those credit lines and credit limits small businesses depend on? Smart people read this blog. Is anybody incubating some great idea in his/her mind? I would love to work with you on a world-changing project that would set the US back on track and restore optimism and energy. I am tired of listening to everybody piss and moan, including myself, about the state we are in.

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Video: Forbes Discusses Preventative Health-Care Programs: Video

August 13, 2010

Aug. 13 (Bloomberg) — Sean Forbes, president of Virgin HealthMiles, talks about the company’s preventative health-care programs offered to corporations. Forbes talks with Carol Massar and Matt Miller on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Weil Discusses Failure of United Commercial Bank: Video

August 5, 2010

Aug. 5 (Bloomberg) — Bloomberg news columnist Jonathan Weil talks about how Alex Yan, a mid-level officer at United Commercial Bank, was sentenced to 27 months in prison for stealing money from his employer to support his gambling habit, and about how the U.S. Treasury lost its entire TARP investment at UCB when it failed. Weil talks with Lizzie O’Leary and Matt Miller on Bloomberg Television’s “Street Smart” (Source: Bloomberg)

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Video: IHS’s Lindland Sees U.S. Auto Industry Recovery: Video

August 3, 2010

Aug. 3 (Bloomberg) — Rebecca Lindland, an analyst at IHS Automotive, talks about July U.S. vehicle sales reported today and the condition of the automotive industry. Lindland, speaking with Matt Miller and Lizzie O’Leary on Bloomberg Television’s “Street Smart,” also discusses the impact of Toyota Motor Corp. recalls on sales. (Source: Bloomberg)

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Video: Nokia May Seek More Innovation to Fight Off Competition

July 22, 2010

July 22 (Bloomberg) — Bloomberg’s Poppy Trowbridge reports on Nokia Oyj’s competition in the smart-phone market. Nokia will probably report lower second-quarter earnings, according to the average estimate of 26 analysts surveyed by Bloomberg.

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Video: Seery Sees S&P 500 Falling to 900s; Cites `No Growth’: Video

July 16, 2010

July 16 (Bloomberg) — Michael Seery of Olympus Futures and John O’Donoghue, head of equities at Cowen & Co., talk about the outlook for the U.S. stock market. Seery and O’Donoghue talk with Carol Massar, Matt Miller, Adam Johnson and Dominic Chu on Bloomberg Television’s “Street Smart”. (Source: Bloomberg)

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Video: Butowsky Questions RealD IPO, Sees Better 2011 Market: Video

July 15, 2010

July 15 (Bloomberg) — Ed Butowsky, managing director at Chapwood Capital Investment Management talks about public offerings for RealD Inc., Smart Technologies Inc., Qlik Technologies Inc. and KKR & Co. Butowsky also discusses the outlook for the IPO market in 2011. He speaks with Deirdre Bolton on Bloomberg Television’s “InBusiness With Margaret Brennan”. (Source: Bloomberg)

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