Saturday, July 20, 2013

Two JPMorgan directors to retire from board after Whale mess

(Reuters) - Two JPMorgan Chase & Co directors who sat on the board's risk committee in the run-up to the London Whale trading debacle have retired.

The directors, David Cote and Ellen Futter, won relatively low numbers of votes at the company's annual meeting in May, signaling investor discomfort with them. Shareholders have told Reuters that they have continued to agitate for changes on the board since the meeting.

The board expects to appoint additional directors "as the year goes on," Lee Raymond, the presiding director, said in the statement on Friday.

Two advisory firms had suggested investors vote against Futter, who heads the American Museum of Natural History in New York, and Cote, who is chairman and chief executive of Honeywell International Inc .

Both were on the risk committee when JPMorgan announced the bad credit derivatives trades that ultimately cost the bank more than $6.2 billion and damaged its reputation.

Futter was re-elected to the board with only 53.1 percent of the vote at the company's annual meeting in May, which she did not attend. Cote received 59.3 percent of the vote.

Raymond had said at the annual meeting that he expected the board to make changes in its risk policy committee following the vote.

The two directors were long-standing board members. Cote had served for more than five years, and Futter for 16 years.

Chairman and CEO Jamie Dimon emerged from the annual meeting with more evident power than before, after 68 percent of shareholders recommended that he continue to be both chairman of the board and chief executive.

The endorsement exceeded the 60 percent of votes Dimon had received the year before and came after many investors feared he might quit if they did not agree that he could both run the company and lead the board in its oversight.

Dimon, in Friday's statement, said of Cote and Futter, "We have learned a great deal from both of them and will miss having them as members of our board."

(Reporting by David Henry and Nadia Damouni in New York; Editing by Gerald E. McCormick and Tim Dobbyn)

Source: http://news.yahoo.com/two-jpmorgan-directors-step-down-board-154755684.html

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VLC returns to iOS after two-year hiatus, brings AirPlay and Dropbox integration

VLC returns to iOS after two-year hiatus

VideoLAN's original VLC for iOS had a brief and rocky history: open source licensing quirks led to the media player being pulled from the App Store just months after launch. More than two years later, it's back with a compatible license -- and it's bringing a slew of new features in return for the wait. VLC 2.0 supports all the file formats of its desktop counterpart while throwing in AirPlay, background audio, network streaming and numerous smaller tweaks. It's also better suited to sharing with support for Dropbox, the iOS sharing prompt, web downloads and WiFi uploads. The revived VLC app is gradually rolling out now, and its source code should be available for tinkering by July 19th.

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Via: The Next Web

Source: App Store

Source: http://www.engadget.com/2013/07/19/vlc-returns-to-ios-after-two-year-hiatus/?utm_medium=feed&utm_source=Feed_Classic&utm_campaign=Engadget

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Saturday, April 20, 2013

Community gardens may produce more than vegetables

Apr. 18, 2013 ? People who participate in community gardening have a significantly lower body mass index -- as well as lower odds of being overweight or obese -- than do their non-gardening neighbors. Researchers at the University of Utah reported these and other findings in the American Journal of Public Health published online today.

"It has been shown previously that community gardens can provide a variety of social and nutritional benefits to neighborhoods," says Cathleen Zick, lead author of the study and professor of family and consumer studies at the University of Utah. "But until now, we did not have data to show a measurable health benefit for those who use the gardens."

To gauge a health benefit, researchers used body mass index, or BMI, a calculation based on a person's height and weight and which is widely used to screen for weight categories that may lead to health problems. In general, a normal BMI ranges from 18.5 to 24.9; a smaller number is better than a larger one.

Results showed that women community gardeners had an average BMI 1.84 lower than their neighbors, which translates to an 11 pound weight difference for a woman 5 feet 5 inches tall. For men, the BMI was lower by 2.36 for gardeners -- a difference of 16 pounds for a man 5 feet 10 inches tall -- compared to the neighborhood cohort. Gardeners were also less likely to be overweight or obese; 46 percent less for women gardeners, and 62 percent less for men gardeners.

Researchers also looked at the BMIs of individuals related to the gardeners, namely siblings and spouses.

When compared to same sex siblings, a similar advantage to unrelated neighbors was found. Women in the community gardening group had a BMI 1.88 lower than their sisters; for men, the difference was 1.33 lower for the gardeners compared to their brothers. Both differences were statistically significant.

For spouses of married gardeners, there was no difference in BMI or odds of being overweight or obese. That finding was not surprising, as researchers had expected that spouses would benefit from eating food produced in the garden, and perhaps from helping out with the gardening activities.

"These data are intriguing, although they were drawn from participants in a single community gardening organization in Salt Lake City and may not apply broadly until more research is done," Zick notes. "However, as the percentage of Americans living in urban areas continues to grow, this initial study validates the idea that community gardens are a valuable neighborhood asset that can promote healthier living. That could be of interest to urban planners, public health officials and others focused on designing new neighborhoods and revitalizing old ones."

How the study was conducted

The study used unique administrative data to examine -- for the first time -- the relationship between community gardening and a health outcome. Researchers compared community gardeners' BMIs, and odds of being overweight or obese, with three control groups.

One group included unrelated people from the same geographic neighborhood. This group would share similar physical environments, like walkability and proximity to food shops and stores, as well as economic status.

The second group was same sex siblings, who would be expected to share genetic predispositions for weight and family influences on diet and exercise.

The third group was married spouses of the gardeners, because they would likely share lifestyle and food choices, including food grown in the community garden.

Gardeners were drawn from a pool of individuals active with Wasatch Community Gardens (WCG), a 20-year old non-profit organization located in Salt Lake City. WCG provides a network of urban gardens located throughout the local area, as well as classes, programs and events focused on gardening and eating locally. After gaining assurance from the gardeners that they had no concerns regarding WCG's involvement with the study, WCG staff provided names and addresses of 423 adults who had gardened on one of the community plots for at least one year between 1995 and 2010.

Data for neighbors, siblings and spouses were drawn from administrative records, using the Utah Population Database, a multi-faceted data resource used by health researchers. It includes a large set of Utah family histories, and links to publicly-available historical birth, marriage, and driver's license records.

A total of 375 gardeners were linked to BMI information in the database; once linked, driver's license records were used to build a sample of neighbors -- individuals matched for age, gender and residential location, and Utah marriage, divorce and birth records to identify siblings and spouses. In the end, data on 198 gardeners and 67 spouses were included in the analyses, and height and weight information came from driver's license records after they began community gardening.

"We know obesity is costly," Zick concludes. "This study begins to shed light on the costs and benefits of the choices families make about eating and physical activity. Future research with controlled, randomized field studies across a range of communities are needed to further advance our understanding of the role gardening can play in healthy lives."

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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/0002PAHkWiU/130418162135.htm

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Thursday, January 10, 2013

Calif. teachers fund moves to divest from firearms

SACRAMENTO, Calif. (AP) -- The nation's largest teacher pension fund took the first step Wednesday toward divesting from companies that make guns and high-capacity ammunition magazines that are illegal in California.

State Treasurer Bill Lockyer made a motion to begin the divestment process after pension fund officials determined that the fund invests in the owner of a company that manufactured one of the weapons used in the Connecticut school shooting. The California State Teachers' Retirement System's investment committee unanimously approved the motion.

CalSTRS has investments in private equity firm Cerberus Capital Management LP, which owns the manufacturer of an assault weapon used at Sandy Hook Elementary School in Newtown, Conn. The pension fund also owns shares of Sturm, Ruger & Co. and Smith & Wesson Holding Corp., two publicly traded gun-makers.

The three investments make up a tiny fraction of the pension system's holdings, about $11.7 million out of the $155 billion fund, according to CalSTRS staff.

Harry Keiley, a high school teacher with the Santa Monica-Malibu Unified School District and chairman of the board's investment committee, said before Wednesday's vote that the pension board has the power to change its investments.

After the shooting, Keiley said: "I sat there with all of my thoughts and feeling very powerless knowing that I don't sit on the Supreme Court, I don't cast a vote in the United States Congress, I don't sit in the state Legislature. I'm a school teacher and dad. And then it dawned on me ... that I and this board are not powerless."

Pension staff will meet with the companies and determine the impact divesting would have on the fund's performance. They'll report back to the board at an unspecified date.

Lockyer also wants the California Public Employees' Retirement System, the nation's largest public pension fund, to divest from companies that make the types of weapons and high-capacity magazines that are illegal in the state. The treasurer, who sits on both pension boards, is expected to make a formal motion for CalPERS in February.

CalPERS did not return a call for comment Wednesday.

Source: http://news.yahoo.com/calif-teachers-fund-moves-divest-230034096.html

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Wednesday, January 9, 2013

Wholesale Banking - Manager (Big 4 Consulting) - Thomson ...

Our client are a Big 4 consulting team who are now looking to recruit at Manager grade in their Wholesale Banking & Investment Management team. Their consulting team offers candidates the chance to work with some of the leading names in the industry and be at the cutting edge of regulatory change. They are looking for candidates who have both technical skills around FSA regulations, and excellent client facing skills, with the ability to develop relationships at all levels.

Responsibilities:

  • Demonstrates excellent regulatory knowledge.
  • Manages client engagements including quality and risk management considerations.
  • Shows commercial awareness by actively identifying potential business opportunities.
  • Significantly contributes to sales and preparation for proposals.
  • Continues to develop and maintain internal and external relationships.
  • Effectively manages teams and supports the development of more junior members of staff.

Skills and experience:

  • Wholesale or Investment Management regulatory experience at the FSA, a Financial Services organisation or another Advisory firm.
  • Knowledge of FSA handbook including; Conduct of Business, SYSC, and CASS.
  • Strong academic background including a Bachelor's degree. Flexibility - can work away at short notice and can adjust to timeframes/activities changing
  • Can translate regulatory requirements into practical solutions
  • Able to identify further business opportunities
  • Experience with the design, development and implementation of internal controls for financial services business processes a plus
  • Strong written and verbal communication skills for report writing and client presentations
  • Analytical skills; specifically, the ability to assess and decompose financial services industry processes utilising a risk and control focus
  • Effective leadership, project management and teamwork skills

If you feel you are a suitable candidate then please forward your CV to danwise@jarvisblake.com or call 01322 611771 to find out more.

Source: http://www.complinet.com/recruitment/jobs/job/details/id/44363

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Zagg Origin is two speakers in one (video)

Here's a cool little surprise from the Pepcom floor: the Zagg Origin is a two-in-one speaker system. The smaller of the two fits in the palm of your hand, communicating with your tablet or smartphone via Bluetooth. It's got some physical buttons on top and an auxiliary port, power button and mini-USB slot on its rear. It also vibrates like crazy when it plays. Drop into the larger dock desktop speaker and the music starts playing through that via the aforementioned vibes. Pretty cool, really. It's gonna run you around $250 when it launches in roughly seven weeks. Watch video of the origin in action after the break.

Continue reading Zagg Origin is two speakers in one (video)

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Source: http://www.engadget.com/2013/01/08/zagg-origin-is-two-speakers-in-one-video/

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Apple rumored to (again) be working on a cheaper iPhone, could arrive in late 2013

Apple rumored to again be working on a cheaper iPhone, could arrive in late 2013

Remember this song and dance? You should. Major news agencies far and wide have been asserting that Apple would be producing a "cheaper iPhone" for years now, and it looks as if a few fresh rumors have the smoke all roiled up again. The Wall Street Journal is today reporting that Apple is "working on a lower-end iPhone," citing only "people familiar with the matter" as proof. The article notes that the company has "explored such a device for years," but that exploration is getting closer to reality now that the smartphone universe is beginning to shift in a major way.

As the story goes, the cheaper phone "could resemble the standard iPhone, with a different, less-expensive body" -- perhaps an iPhone that relies on polycarbonate plastic instead of metal / glass. It's most certainly unlike Apple to cater to the lower-end; when the netbook craze was in full force, it resisted the obvious urge to cut corners on its MacBook Air in order to play ball in that space. And, most recently, its smaller iPad didn't come close to matching items like the Nexus 7 in price.

What remains unclear, however, is if this report is merely a masked rehash of a DigiTimes report that surfaced earlier in the day. For those unaware, DigiTimes doesn't have the purest reputation when it comes to nailing Apple rumors, and given that a low-end iPhone has been rumored for nearly as long as the iPhone has existed, it's even more unclear if there's a reason to put more stock in this one compared to those prior.

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Source: The Wall Street Journal

Source: http://www.engadget.com/2013/01/08/apple-cheaper-iphone-rumor-2013/

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