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Archive for July, 2014

Bibliomotion Author Lauren Rothman to Appear on TLC’s ‘Sunday Brunch’

Bibliomotion’s Lauren Rothman, author of ‘Style Bible’, will share fashion insights on TLC’s new show ‘Sunday Brunch

Lauren Rothman "Styleauteur"
Styleauteur Lauren Rothman has her finger on the pulse of fashion.

Boston, MA (PRWEB) July 30, 2014

Bibliomotion author and style expert Lauren Rothman will appear on TLC’s new show called ‘Sunday Brunch’ for the next four Sundays from 1-2pm. On the show, hosted by TLC’s Ereka Vetrini, Rothman will share style tips and fashion insights.

Click here to watch a preview of the show.

Rothman is the author of Style Bible: What to Wear to Work (Bibliomotion, October 2013), in which she addresses the basics of fashion and executive presence by offering advice, anecdotes, and style alerts that help readers avoid major fashion faux pas at the office.

Rothman also regularly appears on Let’s Talk Live DC and is a frequent contributor to Fashion Whip, her political style column in The Huffington Post.

About Lauren Rothman:

Lauren A. Rothman, also known as “the Styleauteur,” is a fashion, style, and trend expert. Her wide-ranging experience includes working at Elle Magazine, MTV Networks Latin America, on Capitol Hill for former Congressman Peter Deutch, and as a wardrobe consultant for both Nordstrom and Saks Fifth Avenue. Her tips on wardrobe management have been featured in Glamour, Real Simple,People StyleWatch, and Washingtonian magazines, as well as in Politico, The Wall Street Journal, The Washington Post, The Huffington Post, The Financial Times, MSNBC, Niche Media, on NPR, and on XM/Sirius radio. She has discussed politics and style on Entertainment Tonight, The Insider, CNN, and in her in column – The Fashion Whip – on The Huffington Post. Rothman studied at the University of Salamanca in Spain and graduated from Colby College in Waterville, Maine with a major in English literature. Rothman lives with her husband, son, and pink toenail polished Dogue de Bordeaux in McLean, VA.

About Style Bible:

First impressions (and second ones!) count, whether you are an intern or a CEO. Lauren A. Rothman addresses an age-old dilemma: how to be appropriate and stylish in the workplace. Based on a decade of experience in the fashion industry, she addresses the basics of fashion and executive presence by offering advice, anecdotes, and style alerts that help readers avoid major fashion faux pas at the office. Style Bible: What to Wear to Work is the must-have resource for the modern professional, male or female, climbing the ladder of success. Lauren identifies the ultimate wardrobe essentials, and reveals shopping strategies and destinations for the everyday person. Style Bible, complete with helpful illustrations, is the go-to manual on how to dress for every professional occasion and a valuable resource for understanding dress codes by industry, city, and gender so that your visual cues will make a strong impact. Make a commitment to being better dressed at work with Style Bible.

About Bibliomotion:

Bibliomotion is a book publishing house designed for the new publishing landscape. While many publishers work to retrofit old processes for new realities, Bibliomotion was founded by book-industry veterans who believe the best approach is a fresh one – one that focuses on empowering authors and serving readers above all else. Moving away from the top-down model that has dominated the publishing process for years, we give each member of the team – including the author – a seat at the table from the very beginning and in doing so, work side-by-side to launch and sell the best content possible, making it available in a variety of forms.

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ARGENTINA DEFAULTS

cristina fernandez de kirchner

REUTERS/Eduardo Munoz

Argentina has defaulted.Argentine Finance Minister Axel Kicillof delivered the news to the world from Argentina’s consulate in New York City on Wednesday.

Kicillof had just finished a meeting in which he and a delegation from The Republic failed to satisfy the demands of a group of hedge fund creditors negotiating over $1.3 billion worth of debt owed to them for over a decade.

“The Argentine Republic has filed for a stay [on payment] with Judge Griesa… The Judge decided that if the vulture funds said there could be a stay there would be a stay,” said Kicillof. “The vulture funds were not willing to grant the stay.”

Without the stay and without payment, Argentina is in default.

“Notwithstanding any claim to the contrary, Default is not a mere “technical” condition, but rather a real and painful event that will hurt real people: these include all ordinary Argentine citizens, the exchange bondholders (who will not receive their interest ) and the holdouts ( who will not receive payment of the judgments they obtained in Court),” said Daniel Pollack the Court’s appointed mediator.

Pollack also said he would continue to make himself available for more discussions.

In Argentina’s defense, Kicillof repeated the same argument that the administration has been making for months — that paying the “vultures” would be a violation of Argentine law. That’s because there is a clause in The Republic’s bond agreements called the RUFO — Rights Upon Future Offering — clause. It expires in 2015.

According to RUFO, if Argentina negotiates better terms with some bondholders, all bondholders have a claim on those terms. That would open the country to up to $15 billion worth of payments. Earlier this month, the Court didn’t buy that, and refused Argentina’s request for a stay on payment until negotiations could be worked out (ideally with a payment to NML due in 2015).

axel kicillof

Screenshot, TN

Argentine Economy Minister, Axel Kicillof

“This was a situation of extortion,” said Kicillof. “We will not just sign anything that could lead to more external debt for Argentina… We will avoid it with all of our weapons.”The “vulture funds” are investors known collectively as NML Capital and led by hedge fund billionaire Paul Singer. They would not take haircuts on debt dating back to Argentina’s last default in 2001 like over 90% of their fellow bond holders.

To Argentina that refusal made them vultures, and you don’t pay vultures. Instead you sue them all the way up to the Supreme Court and lose.

What’s off about all this is that the $15 billion from RUFO is chump change compared to what the country might have to pay if it goes into default. Default opens the country up to “acceleration clause” claims — in which bondholders sue for all their money at once, and immediately — worth $29 billion. That’s everything in Argentina’s Central Bank.

Earlier today, Argentine bankers put together a last ditch rescue package. They offered to put down $250 million as collateral — a show of good faith that the country was willing to pay (and avoid triggering RUFO) in 2015. Another option would have been for banks to buy NML’s debt, and then request a stay on payment themselves.

But for any of that to happen there would have had to be a stay on payment, and hedge funds would not allow that to happen.

Indeed, even before Kicillof said a word Standard & Poors cut the country’s rating to “selective default” — meaning Argentina chose to renege on some of its payments, but not all of them.

“We are… lowering our long-and short-term foreign currency sovereign credit ratings on Argentina to selective default (‘SD’) from ‘CCC-/C’,” said the agency’s release, “indicating that Argentina defaulted on some of its foreign currency obligations. At the same time, we are removing the ‘CCC-/C’ foreign currency ratings from CreditWatch, where they were placed with negative implications on July 1, 2014.”

In his address, Kicillof said that he would not be surprised if NML held sway over rating agencies, and would try to use its power to make things very uncomfortable Argentina.

But so be it. He said that the country would continue on doing what it’s been doing — trying to pay “exchange bondholders” (the 92% of bondholders who did restructure their debt) without paying the “vultures.”

That flies directly in the face of the Supreme Court, which upheld a lower Court’s ruling in favor of NML. New York Judge Thomas Griesa ruled that Argentina could not favor some bondholders over others according to a clause in Argentina’s called pari passu. In Latin, it means “equal step.”

When Argentina tried to pay exchange bondholders earlier this month, Griesa sent that money right back to The Republic. And there it sits in a Bank of New York Mellon custodial account.

“First we’re not going to sign any agreement that hurts Argentina’s future,” said Kicillof. “Second, we’re going to defend the 92% of bondholders that did restructure… In third place, we’re going to take every measure… we have to make sure this situation is not perpetuated. Argentina is ready to talk, to come to an agreement. Let’s come to a just, fair… ruling for 100% of our investors. But do not make us do anything illegal… Do not make us do anything unjust… Do not make us do anything that will make us put Argentina’s economy at risk…. We won’t allow it.”

The full statment from Pollack is below.

This morning and this afternoon, representatives of the Republic of Argentina, led by Minister of the Economy, Axel Kicillof, and representatives of its large bondholders held further face-to-face meetings in my office and in my presence.

Unfortunately, no agreement was reached and the Republic of Argentina will imminently be in Default. Today, July 30, was the last day of the grace period for the Republic of Argentina to pay many hundreds of millions of dollars of interest to its “exchange” bondholders, i.e. those who took bonds in 2005 and 2010 in exchange for the bonds they held following the Default of 2001.

In order to make that payment of interest, however, the Republic of Argentina was also required, simultaneously, to make a “ratable” payment to the bondholders who declined to accept the exchanges of 2005 and 2010, i.e. the “holdouts”. The Republic of Argentina did not meet those conditions and, as a result, will be in Default.

Notwithstanding any claim to the contrary, Default is not a mere “technical” condition, but rather a real and painful event that will hurt real people: these include all ordinary Argentine citizens, the exchange bondholders (who will not receive their interest ) and the holdouts ( who will not receive payment of the judgments they obtained in Court).

The full consequences of Default are not predictable, but they certainly are not positive. This case has been highly publicized and highly politicized for many weeks. What has been perfectly clear to me all along, however, in my capacity as the neutral Special Master, is that the laws of the United States must be obeyed by all parties. The courts of the United States (both the United States District Court and the United States Court of Appeals), after full briefings and hearings, ruled that the Republic of Argentina could not lawfully make the interest payments to the exchange bondholders unless it simultaneously made the payments due the holdouts.

I have worked relentlessly, over a five-week period, to bring the Republic of Argentina and its bondholders together in an agreement that would allow the June 30 interest payment of many hundreds of millions of dollars to be made, and to be made lawfully, thereby avoiding Default. It is not my role or intent to find fault with either side. I will continue to be available to the parties to aid them in reaching a resolution which they must reach in the interests of all concerned.

Default cannot be allowed to lapse into a permanent condition or the Republic of Argentina and the bondholders, both exchange and holdouts, will suffer increasingly grievous harm, and the ordinary Argentine citizen will be the real and ultimate victim.

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3D View of Mt. Everest – put your sound on and when you arrive at the peak, move your mouse for a 360 degree view from the top of the World

http://everestavalanchetragedy.com/mt-everest-journey.html

 

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If You Think 5G Is All About Faster Network Speeds, You’re Wrong

It’s hard to imagine a world in which our smartphones are faster than they already are today.

You can already reach for your phone, ask Google a question, and receive the answer within seconds.

The forthcoming generation of wireless technology will be even faster, but it’s not just about sheer speed.

The next major network upgrade will solve one of the most aggravating problems we experience today — searching for a reliable, fast connection.

The primary goal with 5G is to make it feel like the end user is always connected, regardless of whether or not you’re inside or outside, near a window or buried in a basement.

Part of the reason we’ll need such strong connectivity is because 5G will be about powering much more than just smartphones — it’ll be designed to connect smart watches, fitness bands, and smart household gadgets like the Nest Learning Thermostat among others.

First, what is 5G?

The term 5G refers to the true next generation of wireless networks. Since 4G rolled on a widespread scale over the past few years, we’ve seen numerous advancements, including LTE, LTE Advanced, and Verizon’s XLTE, which essentially means the carrier is using more bandwidth.

All of these improvements build on the same core requirements and are categorized under the 4G umbrella. But 5G will be the real successor to 4G, and it will be founded on a different set of requirements than today’s existing network technology.

It’s important to understand the differences between these networks because your phone’s performance greatly depends on the type of network you’re connected to. It’s more than just a little symbol that sits in the upper right-hand corner of your phone.

The jump from 3G to 4G represented a massive improvement in high-speed downloads. It would be nearly impossible to use a service like Netflix with a 3G connection, which is one example of why 4G-level speeds became necessary for consumers within the past few years.

So what will 5G bring, and what will we need it for in the future? Those questions are hard to address at this stage since it’s so early, but industry analysts are already making projections.

Speed isn’t the most important thing

There’s a common misconception that 5G simply means super fast data speeds. That’s because the early testing we’ve seen so far has emphasized how much faster 5G will be than today’s existing technology.

Kevin Smith/Business Insider

The Fitbit Force (left) and Jawbone (right).

Last May, Samsung claimed that its upcoming 5G technology will be able to transfer more than 1 gigabit of data per second, as MIT Technology Review reported.

To put that in perspective, a relatively speedy LTE connection today transfers data at about 60 megabits per second, which translates to roughly 0.05 gigabits.

A gigabit connection is much faster than any data speeds you’ve experienced with your smartphone yet. Google claims that even at a rate of one gigabit per second, you can download a full HD movie in less than two minutes.

Next-generation wireless networks will certainly be faster than our connections today, but that’s the least important priority for 5G, says Tod Sizer, vice president of the Wireless Research Program at Alcatel-Lucent Bell Labs.

“If you say speed is the real thing we need to improve in 5G, you’re missing the point,” Sizer told Business Insider in an interview. “The end user doesn’t really care about speed. They care about what the application [they’re using] needs.”

One of the biggest improvements we’ll see in 5G is the flexibility to support many different types of devices. In addition to connecting to phones and tablets, 5G will need to support wearable devices like fitness trackers and smart watches, smart-home gadgets like the Nest Learning Thermostat, and all sorts of sensors.

“Being able to support a hundred-thousand machines in a given area is what we’re designing for today,” Sizer said. “We do believe that in the future every person will have 10 to 100 machines they need to work for them.”

“In the future every person will have 10 to 100 machines they need to work for them.”

That’s part of why it’s so hard to confirm the requirements for what type of technology will go into 5G. It’s hard to figure out the data capacity necessary to power all of these devices.

“[It’s] not just in terms of supporting more data, but in terms of supporting more usage,” Peter Jarich, vice president, consumer and infrastructure at Current Analysis, told Business Insider. “And that becomes the real challenge. That’s an answer we don’t know yet, what capacity is needed.”

Improving end-to-end performance will be another big focus when it come to 5G, Sizer said. End-to-end performance refers to how well the cellular radio in your smartphone can maintain connections with the servers it retrieves information from.

Poor end-to-end performance isn’t very noticeable while you’re sending a text message or viewing a web page, but it can be really shows when you’re making a video call through Skype or watching Netflix, Sizer said. If you experience latency and lag when streaming video, it’s likely due to a weak end-to-end connection.

Business Insider, William Wei

Sizer said that this next generation cellular network will also usher in significant battery life enhancements for smartphones and mobile devices. According to Sizer, there are a lot of small tasks that applications need to run properly.

For example, an email application sends a bunch of tiny requests back and forth from the host service’s servers to check for new emails.

These requests, although small, end up chipping away at your phone’s battery life over time. Part of what Sizer’s team is researching at Bell Labs involves finding a better way to handle these requests.

“There are a lot of applications that have all these little messages,” Sizer said. “If I can take care of these little messages, I can dramatically improve the life of tablets.”

Don’t expect to see 5G for another 10 years

Part of the reason it’s difficult to understand exactly what 5G will offer is because it hasn’t even been defined. The International Telecommunication Union hasn’t revealed the specific requirements and the types of technology that will be incorporated into 5G just yet.

Nailing down the correct specifications and setting up infrastructure to deploy these networks is a slow, gradual process, Jarich explained.

The task involves defining the requirements for 5G and the technology that goes into meeting those requirements, such as achieving a certain speed benchmark and deciding which components and antennas should be added to smartphones to meet those benchmarks.

It typically takes 10 years to get a next-generation network up-and-running. Sizer and Jarich say that initial 5G deployment will probably start in 2020, and we’ll see widespread adoption by 2025.

“In order to deploy a wireless network it requires a massive investment of money and effort,” Sizer said. “It takes time to recoup that investment, which is usually several billion dollars or euros for wireless networks.”

Earlier this year, Korea’s Yonhap News Agency reported that South Korea would invest $1.49 billion into building a 5G network for the country. At the end of 2013, the European Commission kicked off a partnership that would involve the European Union investing $963 million in 5G research.

It usually requires billions of dollars to get a new wireless network fully deployed, and the cost of building 5G shouldn’t be any different than years past, Sizer said. Back in 2012, AT&T invested $14 billion to expand its LTE footprint to 300 million people by the end of 2014. That’s $14 billion one carrier spent building up LTE over the course of three years — imagine how much each carrier could spend creating 5G networks over a span of 10 years.

Both Sizer and Jarich agree that the ultimate goal of 5G is to make it feel like you’re never without an internet connection, whether you’re underground or in a remote area. But that doesn’t mean wired broadband will become obsolete just yet, Jarich said. There simply isn’t enough spectrum available to handle internet traffic without some help from wired connections.

But 5G will do its best to try.

“Those people who were born in the year 2000, they’ve never known a world where they had to share a phone with their sister, where they couldn’t get access to any information they wanted simply by reaching into their pocket,” Sizer said. “And so it’s for these folks who have never known a world where they weren’t always connected, that we’re designing the next generation.”
Read more: http://www.businessinsider.com/5g-network-speed-2014-7#ixzz38gv0YdwD

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It’s Been A Long Time Since We’ve Seen A Decent Stock Market Sell-Off

The S&P500 has now gone nearly 800 days since a correction of more than 10 percent – the “meaningful” level for many analysts. The more extended the market becomes, the larger the eventual decline may be. Over the last 50 years, the longer the time between market corrections, the steeper the drop once the correction does occur.

stocks

Guggenheim Partners

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San Francisco, August 2014

Successful “Date Certain M&A” of ClearEdge Power, LLC, its Assets and Intellectual Property to the Doosan Corporation. Gerbsman Partners, Financial Advisor

Steven R. Gerbsman, Principal of Gerbsman Partners, Kenneth Hardesty, Managing Principal and James Skelton, member of Gerbsman Partners Board of Intellectual Capital, announced today their success in maximizing stakeholder value for ClearEdge Power, LLC, (http://clearedgepower.com) through a 363 Chapter 11 sale to the Doosan Corporation (http://doosan.com).

Gerbsman Partners provided Financial Advisory leadership to ClearEdge Power, LLC, through the Chapter 11 process, facilitated the sale of the business unit’s assets and its associated Intellectual Property and closing of the sale. Due to market conditions, the board of directors of ClearEdge Power made the strategic decision to maximize the value of the business unit and Intellectual Property. Gerbsman Partners provided leadership to the company with:

1.  Business Consulting and Investment Banking domain expertise in developing the strategic action plans for maximizing value of the business unit, Intellectual Property and assets;
2.  Proven domain expertise in maximizing the value of the business unit and Intellectual Property through a Gerbsman Partners targeted and proprietary “Date Certain M&A Process”;
3.  The ability to “Manage the Process” among potential Acquirers, Lawyers, Creditors Management, Advisors and the Chapter 11 process;
4.  Communications with the Board of Directors, senior management, senior lenders, creditors, vendors and all stakeholders in interest.

About Gerbsman Partners

Gerbsman Partners focuses on maximizing enterprise value for stakeholders and shareholders in under-performing, under-capitalized and under-valued companies and their Intellectual Property. Since 2001, Gerbsman Partners has been involved in maximizing value for 83 Technology, Life Science, Medical Device, Solar, Fuel Cell and Digital Marketing companies and their Intellectual Property and has restructured/terminated over $810 million of real estate executory contracts and equipment lease/sub-debt obligations. Since inception in 1980, Gerbsman Partners has been involved in over $2.3 billion of financings, restructurings and M&A transactions.

Gerbsman Partners has offices and strategic alliances in San Francisco, Boston, New York, Washington, DC, McLean, VA, Europe and Israel.

GERBSMAN PARTNERS
Phone: +1.415.456.0628, Cell: +1 415 505 4991
Email: steve@gerbsmanpartners.com
Web: www.gerbsmanpartners.com
BLOG of Intellectual Capital: blog.gerbsmanpartners.com

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July 21, 2014, 8:51 p.m. EDT

Apple to suppliers: Gear up for the next iPhone

 By Lorraine Luk

 

Apple Inc. is preparing for its largest initial production run of iPhones, betting that larger-screen models will lure consumers now attracted to similar phones from Samsung Electronics Co. and others.

The Cupertino, Calif., company is asking suppliers to manufacture between 70 million and 80 million units combined of two large-screen iPhones with 4.7-inch and 5.5-inch displays by Dec. 30, according to people familiar with the matter.

Its forecast for what is commonly called the iPhone 6 is significantly larger than the initial order last year of between 50 million and 60 million versions of the iPhone 5S and 5C–which had a display measuring 4-inches diagonally, these people said. Both of the coming models are expected to feature metal cases similar to the iPhone 5S and likely come in multiple colors, these people said.

Apple stuck with smaller displays on iPhones even as rival smartphone makers rolled out bigger screens and customers clamored for larger phones. Demand for larger-screen smartphones boosted Samsung, which started offering a 4.8-inch display in its Samsung Galaxy S models in 2012 and introduced an array of bigger phones.

Apple is scheduled to report its fiscal third-quarter results on Tuesday and provide a financial outlook for the current period ending Sept. 28. Historically, Apple has released a new iPhone in mid-September.

Analysts are forecasting Apple will report sales of about 35.9 million iPhone units for the three months ended June 30. That would be up about 15% from a year earlier.

For Apple, one possible hiccup with the larger screen is that display makers for the new iPhones are struggling to improve the production of the larger 5.5-inch screens, people familiar with the matter said. The production is complicated because the displays are using in-cell technology, which allows the screens to be thinner and lighter by integrating touch sensors into the liquid crystal display and making it unnecessary to have a separate touch-screen layer.

To factor in the possibility of a higher failure rate for displays, Apple has asked component makers to prepare for up to 120 million iPhones by year-end, the people familiar with the matter said. It made a similar request last year to prepare enough parts for a combined 90 million iPhones to provide some slack in its supply chain.

The 5.5-inch iPhone screen would face an additional manufacturing complication if it uses a cover using sapphire crystal, a more durable but costly alternative to glass, people familiar with the matter said.

Apple’s iPhone production forecast assumes a surge in demand from Apple’s partnership with China Mobile Ltd., the world’s largest carrier, which started offering the iPhone earlier this year. Bigger-screen smartphones are also popular in China and other emerging markets where the smartphone is replacing the personal computer as a main computing device.

As Apple competes against Google Inc.’s Android operating system, larger screens are now common in Apple’s core mobile market–high-price phones. In May, 98% of Android smartphones that sold globally at the equivalent of $400 or above featured a display greater than 5 inches, according to Counterpoint Research.

The new iPhones are coming to market as Samsung’s smartphone business is showing signs of sluggishness. Earlier this month, Samsung warned that its earnings would fall for a third straight quarter due to a glut of unsold smartphones. It is feeling the pinch in emerging markets where its low- to mid-end smartphones are facing intense price competition from rival Asian handset makers including Lenovo Group Ltd. and Xiaomi Inc.

Every year, Apple faces a delicate balancing act. It is critical for Apple to ensure that it has enough supplies of a new iPhone during the holiday season when demand is greatest. Shortages can often result in sales for its rivals, although too much inventory also is a concern.

Apple disappointed investors in last year’s December quarter when iPhone sales rose 7% from a year earlier, falling short of Wall Street expectations of a 15% increase as it struggled to fulfill demand for the 5S and failed to move enough 5C units. The slump proved temporary, with Apple reporting a 17% increase in the following quarter.

Michael Walkley, an analyst at Canaccord Genuity, said there is “strong pent-up demand” for the iPhone 6 because customers have held off on upgrading from older iPhone models.

To fulfill Apple’s demands, the company’s two main iPhone assemblers— Pegatron Corp. and Hon Hai Precision Industry Co., also known as Foxconn–are on a hiring binge at their respective manufacturing sites in China. Foxconn, for example, is hiring workers by the hundreds a day to staff production lines at their respective manufacturing sites in China, said people familiar with those companies.

Foxconn and Pegatron plan to start mass producing the 4.7-inch iPhone model next month and Hon Hai will begin making the 5.5-inch version exclusively in September, the people said.

Often, Apple’s production forecasts are adjusted based on early demand, according to people familiar with the matter. For example, Apple tweaked its initial forecasts for the iPhone 5S and iPhone 5C last year when the more expensive 5S initially sold better than expected and the 5C slumped in the first few months, these people said.

Apple Chief Executive Tim Cook has also warned that the supply chain is “very complex” and that it is impossible to take a data point from a supplier and extrapolate a broader meaning for Apple’s business.

Suppliers also say that Apple likes to build up inventory heading into the new year, because it is difficult to keep production lines humming at full capacity since many workers go home during Lunar New Year, which is in February next year.

Write to Lorraine Luk at lorraine.luk@wsj.com, Daisuke Wakabayashi at Daisuke.Wakabayashi@wsj.com and Eva Dou at eva.dou@wsj.com

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