Our EMC Federation Strategy

first_imgToday, information technology is being transformed by four powerful trends—namely, mobile, cloud computing, Big Data and social networking. This transformation of IT is accelerating, and for players in the IT industry, the future will be both extremely disruptive and incredibly rich in opportunity. Collectively, these four trends comprise what research firm IDC calls the “third platform” of IT (the first being mainframe, and the second being PC client/server) and critical to its success will be an underlying foundation of security, privacy and trust.We are in the early days of the third platform and as such we believe second platform architectures will continue to be the foundation of the enterprise data center for many years to come. Our strategy is to continue to take market share here and lead our customers on their journey to the third platform. We see enormous opportunity to help enterprises transform both IT and their business. We will pursue this strategy through our unique federated business model that includes EMC Information Infrastructure (EMCii), VMware and Pivotal. Our businesses are strategically aligned yet each is focused on its core mission—developing the best technology and building the right partner ecosystem to best serve customers. This federated model allows us to offer best-of-breed, integrated, technology while preserving customers’ ability to choose and deploy products from other IT companies.Continue reading Joe Tucci’s letter to shareholderslast_img read more

Orange noodles?

first_imgUsing pasta as the vehicleHuang chose to make a pasta product because it’s a common food.The resulting sweet-potato pasta is orange and has a slightlysweet taste.”Some people don’t like the sweet taste of a sweet potato, and that sweet taste isn’t as strong in the pasta,” Huang said.”Plus, you can counteract the sweet taste with the otheringredients you add to your pasta dish.”Huang envisioned the sweet-potato pasta being used as a coldsalad pasta, but says it can be used for hot dishes, too.”Adding a hot sauce would be another way to mask the sweet flavorif that aspect didn’t appeal to your palate,” he said.Most pastas are wheat-based, but pasta is also made from rice,corn, mung beans and other crops, Huang said.”We didn’t set out to compete with any other pastas,” he said.”But the sweet-potato pasta should be a healthy alternative forthose who can’t eat wheat-based pastas.”For now, Huang has made the sweet-potato pasta in flat noodleform, but he says it can easily be made into spirals or seashells with the proper equipment. Like other pastas, the sweet-potato pasta can also be made in either wet or dry pasta form. What will consumers think?The next step in the project is to see if the new product passesconsumer taste tests.”The folks in my lab love it,” Huang said. “But we’ll have towait and see what other consumers think and see if it appealsmore to a certain market group.”The sweet-potato pasta needs support from the food industrybefore you’ll see it on your area supermarket shelf.”As food scientists, we develop the products,” Huang said. “Thenwe hope the food industry or an entrepreneur picks up on theproduct and produces it commercially.”If the new product is successful, Georgia farmers would be moreapt to grow sweet potatoes here. Georgia now grows only about 500acres of sweet potatoes annually. By Sharon OmahenUniversity of GeorgiaA University of Georgia food scientist has developed a new pastaproduct that’s chock-full of health benefits and offers a newmarket for sweet potatoes.The new pasta is created from the often forgotten, but oh-so-good-for-you cousin to the Irish potato.”Nowadays people in the U.S. eat sweet potatoes around theholidays and just a few other times in the year,” said Yao-WenHuang, a food scientist with the UGA College of Agricultural andEnvironmental Sciences. “They have great, beneficial nutritiousqualities if we could just get people to eat them more often.”Other countries rely heavily on sweet potatoesMany countries in Asia and Africa, unlike the United States, relyheavily on the sweet potato, Huang says, as a highly stable food.”They eat the whole plant — the roots and the leaves,” he said.”Here in the U.S., the leaves are rarely found outside ofspecialty farmers markets, where they’re viewed as a delicacy andare quite costly.”In his Athens, Ga., lab, Huang used sweet potatoes grown inAlbany, Ga., to create a sweet-potato flour. He then modified andfortified the flour with soybean flour.”I use the whole sweet potato, not just the starch,” he said.”This creates a flour that’s low in fat and high in fiber,beta-carotene, vitamins and minerals.”Huang says sweet potatoes, like carrots and citrus fruits, are anexcellent source of beta-carotene.The soybeans in the new pasta flour add even more healthfulqualities.”Studies show 25 grams of soybean protein per day can preventcancer and is good for your heart,” he said. “They also containflavonoids and other healthy antioxidants.”last_img read more

Puerto Rico Debt Struggle Ties Back to Its Stunted Energy Economy

first_imgPuerto Rico Debt Struggle Ties Back to Its Stunted Energy Economy FacebookTwitterLinkedInEmailPrint分享Llewellyn Hinkes-Jones for Bloomberg BNA:Sen. Orrin Hatch (R-Utah) demanded that Puerto Rico provide detailed financial statements by March 1 before the Senate Finance Committee, which he chairs, puts together a debt-restructuring mechanism for the island.Puerto Rico is in talks with creditors over the country’s distressed debt.A major source of the country’s debt problems comes from the Puerto Rico Electric Power Authority (PREPA), the island’s sole energy provider, which owes about $9 billion to bondholders and other creditors. The utility is dependent on imported oil to generate electricity, for which it sometimes pays on the order of $100 per barrel, even as global oil prices have collapsed to a level below $30 a barrel.In a 2012 presentation, PREPA proposed a switch to liquefied natural gas (LNG), which would lead to $500 million to $1 billion in savings a year and avoid fines under the U.S. Mercury and Air Toxics Standards.But those calculations were based on the construction of the Via Verde gas pipeline and the Aguirre offshore terminal, neither of which has been completed. The Via Verde project was abandoned in 2012 over environmental concerns. The Aguirre project was initially approved by the Federal Energy Regulatory Commission in July 2015, but is under appeal following a request for additional details by the National Oceanic and Atmospheric Administration.In a 2015 report, the Institute for Energy Economics and Financial Analysis (IEEFA) sharply criticized the commonwealth’s sole focus on LNG, which it described as transitioning from one fossil fuel to another, even though the island is “blessed with abundant wind and solar energy.”The IEEFA report notes that any savings from a switch to LNG could easily be wiped out by a spike in LNG prices. According to IEEFA Director of Finance Tom Sanzillo, for the switch to make sense “essentially, LNG prices can’t be much higher than what they are right now, which is around $2-$3/Mcf.” One Mcf equals 1,000 cubic feet.“The island could easily be focusing more on solar, wind, and energy efficiency,” Sanzillo said. “All of which would bring more jobs and fuel the local economy, whereas LNG would only bring a handful.”Puerto Rico offers no incentives for energy efficiency. In 2011, only 1 percent of its electricity came from renewable sources.Full article: Hatch Demands Audited Financials From Puerto Ricolast_img read more

U.S. Plan to Aid Coal and Nuclear Plants Gets a Bipartisan Thumbs Down From Past Regulators

first_imgU.S. Plan to Aid Coal and Nuclear Plants Gets a Bipartisan Thumbs Down From Past Regulators FacebookTwitterLinkedInEmailPrint分享Washington Post;Energy Secretary Rick Perry’s bid to change regulations to help coal and nuclear power plants has run into unusually blunt opposition from a group of former regulators from both parties.Eight former members of the Federal Energy Regulatory Commission — including five former chairmen — have filed a letter with the commission opposing Perry’s proposal that would give coal and nuclear plants credit for resilience so that they would have a better chance of beating solar, wind and natural gas competitors.The former commissioners said that Perry was seeking to reverse a quarter century of FERC reforms that have created a marketplace for electric power generators and that many of the coal plants he is aiming to help have no advantage when it comes to reliability.“His focus is clearly coal and there are a lot of dirty coal plants that are not competitive in today’s energy markets,” Elizabeth Moler, a former FERC chairwoman, former deputy energy secretary and former Exelon executive, said in an interview. “To me he’s effectively proposing to subsidize them and put a tax on consumers in doing so. It’s a tax in different clothing. It’s going to cost customers more money to run dirty old coal plants.”In early October, Perry made his proposal to FERC and asked for a decision within 60 days. He proposed that credit be given to power plants with 90-day fuel supplies on site so that they could operate during an emergency including extreme weather or a natural or man-made disaster.FERC is an independent agency, however, and some current members have indicated that the commission would make its own decision. Even one of President Trump’s nominees has stressed FERC’s independence. Robert F. Powelson, who was confirmed in August, said in a speech at the National Press Club on Oct. 16 that “the moment we put our thumbs on the scale is the moment we bastardize the process.”  In an earlier speech on Oct. 4, Powelson said “we will not destroy the marketplace.”Over the past quarter century, FERC has helped create regional electricity grid operators with the ability to accept bids from power plants to supply electricity to the grid. The competition has attracted tens of billions of dollars of investment in natural gas and renewable power sources.The former commissioners’ letter to FERC said Perry’s proposal “would be a significant step backward from the Commission’s long and bipartisan evolution to transparent, open, competitive wholesale markets” and that it “would instead disrupt decades of substantial investment made in the modern electric power system, raise costs for customers, and do so in a  manner directly counter to the Commission’s long experience.”The group wrote that “subsidizing resources so they do not retire would fundamentally distort markets. The subsidized resources would inevitably drive out the unsubsidized resources, and the subsidies would inevitably raise prices to customers.”It said that “investor confidence would evaporate and markets would tend to collapse. This loss of faith in markets would thereby undermine reliability.”Pat Wood III, who was chairman of FERC under President George W. Bush, said that “I understand the politics. I’m sympathetic.”But he said that the reliability Perry said he wanted to favor had more to do with transmission and distribution than it did with they type of fuel used.The group’s letter acknowledged that there are federal tax subsidies for every kind of fuel, but it said that “one step the Commission has never taken is to create or authorize on its own the kind of subsidy proposed here.”Sen. Ron Wyden (D-Ore), the ranking Democrat on the Senate Finance Committee, said Thursday that FERC should shelve the Perry proposal.“Arbitrarily propping up a dying industry goes against what the GOP has long claimed is its goal – an all-of-the-above energy strategy,” Wyden said in a statement. “This rule clearly picks winners and losers in energy resources, which robs taxpayers of the benefits of competitive markets.”More: Bipartisan group of former FERC commissioners rejects energy secretary’s bid to help coal plantslast_img read more

#Facebook rolls out Messenger payments nationwide

first_img 53SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr By 2019, Forrester Research predicts mobile person-to-person (P2P) payments in the U.S. will total $17 billion. That’s up from $5 billion in 2014. Mobile-payment users in the U.S. are expected to reach 36 million next year.Naturally, Facebook wants a piece of the pie. The social media giant recently announced its Messenger payments service is now available to all users across the U.S. The payments platform was previously only available in select markets, like New York City.Facebook Messenger is a mobile and online chatting service that allows users to send chats between friends. Facebook announced in June the service now has 700 million users, up from 600 million in March and 500 million in November. These users can now make P2P payments by adding their debit card to Facebook Messenger in a few taps. Money can then be transferred from one user’s checking account to another user’s checking account. continue reading »last_img read more

CUNA, leagues continue Durbin repeal push with action alert

first_img continue reading » CUNA and the leagues issued an action alert Monday to ensure language repealing the Durbin amendment remains in the Financial CHOICE Act as it moves to the House floor. The alert calls on credit union stakeholders to write to members of Congress to push for Durbin repeal, and outlines the ways it has harmed credit unions and consumers.Stakeholders can use CUNA’s Voter Voice system to send a message to their member of Congress.The CHOICE Act passed the House Financial Services Committee earlier this month with a provision repealing the Durbin Amendment included.The Durbin amendment requires the Federal Reserve to limit fees charged to retailers for debit card processing.CUNA and the leagues support the repeal language because of the harm the Durbin amendment has caused credit unions and their members, costing credit unions and their members over $1 billion since it was put in place. 11SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Desperately seeking spread

first_img 21SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Jeremy Colvin Jeremy Colvin is a Managing Director for Olden Lane. Jeremy has over 20 years of institutional sales experience. Prior to joining Olden Lane, Jeremy was a Managing Director with BNY … Web: https://www.oldenlane.com Details Many of you may remember the 1985 cult classic “Desperately Seeking Susan.” In this movie, an unfulfilled New Jersey housewife seeks to break out of her mundane, predictable life and follow a bohemian drifter (Madonna) via the New York personal ads.  Believe it or not, a comparison can be drawn between Madonna’s first major motion picture and the current state of affairs in the credit union space.  Many of you are seeking to break out of your mundane, predictable business practices and diversify. I’m hearing from many credit unions that this “awakening” is a byproduct of concentration issues and the necessity to increase earnings. As of Q1 2017, the industry average ROA was 71 basis points and 85% of the loan book was comprised of auto and mortgage/real-estate.  I think you all know the issues you are facing, but how do you create real solutions? My contention is that many credit unions don’t even know the resources they have at their disposal.Consider for a moment the funding sources available. Those of you who are not low-income designated have FHLB advances, member deposit listing services and directly placed member funding programs. The other 44% of the industry that has obtained low-income designation has several addition options, including non-member funding programs like underwritten DTC CDs.  All of these programs allow you the ability to match fund an asset based upon your own interest rate risk profile. Translation: you can literally compartmentalize spread by utilizing wholesale funding sources to match fund specific durations.For example, you could utilize DTC issued CDs to create funding anywhere from one month to 10 years in duration. But if you’re stuck in a financial rut, what asset could you pair with it with to exceed the industry average of 71 basis points? The answer is out there and it’s not more auto loans or single-family mortgages.  You have to be more creative and open minded.At CMS for example, we are showing our clients loan participations just like many providers but with a keen eye on diversification. Of course, we can deliver autos and mortgages but that’s not the secret sauce. The real value is in asset classes that provide measured risk with yield enhancement (USDA, motorcycle, manufactured home, secondary capital, etc.).  If you leverage these assets and pair them with some of the funding tools discussed above, you can literally place spread on your balance sheet far in excess of 71 basis points.  The same can be done in fixed income. CMS has created a proprietary Municipal Bond Unit Investment Trust (UIT) yielding approximately 3%. We are showing our clients how to utilize very short dated collateralized mortgage obligations (CMOs) paired with funding to generate 80-100 basis points in spread.  Basically, what I’m saying is that you have options beyond callable agencies and FDIC insured CDs.You don’t have to be satisfied with the status quo. Your membership deserves the best services that you can provide. Think about those programs you have had on your membership “wish list” that you simply can’t afford due to an anemic ROA. You should be challenging your partners to provide you more value and the ability to widen your spread without taking on too much risk, instead of being satisfied with the same mundane predictable programs that you have been offered for the last 30 years.Reach out and explore your options because you have more than you think. Your most valuable resource is your membership. The more revenue you create, the more products and services you will be able to provide. Those two things are directly related.  We can no longer simply accept our limitations as an industry.  Don’t desperately seek spread, because you have options to satisfy this systemic issue.  You just have to be willing to watch a Madonna movie.last_img read more

Coronavirus pandemic’s third wave generates enraging déjà vu

first_img– Advertisement – A nurse attends a protest, organized by the New York State Nurses Association in front of the National Holdings Corporation on May 8, 2020. The nurses protested because congress granted bailouts to corporations and Wall Street billionaires, but not enough for the communities hit hardest by the coronavirus crisis.Night Owls, a themed open thread, appears at Daily Kos seven days a weekCaroline Chen at ProPublica writes—The Enraging Déjà Vu of a Third Coronavirus Wave. Health care workers don’t need patronizing praise. They need resources, federal support, and for us to stay healthy and out of their hospitals. In many cases, none of that is happening:There’s a joke I’ve seen circulating online, over and over during this pandemic, that goes along the lines of, “Months this year: January, February, March, March, March, March, March…”My lips pull into a smile, but my heart’s not in it. […]As a health reporter covering the pandemic, I’ve experienced too many moments of deja vu. This summer, as the virus swept through the South, news footage of overwhelmed hospitals in Houston turning away ambulances recalled similar scenes from March and April in New York City. Now, we’re in the so-called third wave of the pandemic, with the virus slamming into Midwestern states, and this week, Dr. Gregory Schmidt, associate chief medical officer at the University of Iowa Hospitals and Clinics, said his colleagues are converting 16 hospital beds into new ICU beds in anticipation of an influx of COVID-19 patients. “People in leadership are starting to say things in meetings like, ‘I have a sense of impending doom.’” – Advertisement –last_img read more

‘No isolation, few tests’: Argentina has world’s highest COVID-19 positive rate

first_img“Is there isolation? There is none. Are there (enough) tests? No there aren’t,” Carlos Kambourian, a pediatrician in the city of Buenos Aires, told Reuters.By comparison, New York state has a population of 20 million, less than half of Argentina’s 45 million, yet carries out 100,000 tests a day, four times the number in Argentina. In New York state, the positive rate is a bit over 1 percent.Argentina’s government won plaudits for a tough early lockdown that began March 20, but since then has been forced to loosen restrictions to help revive an economy already in recession for two years and as poverty levels and unemployment have risen.Kambourian added that there had been little in way of strengthening health services: “Certainly the strategies to stop a this type of pandemic aren’t being applied,” he added.A source from Argentina’s health ministry said the large number of positive tests was a result of its “DetectAr” program, where testing focuses on contacts of those known to be infected. The government had pledged to raise testing levels.Argentina has the eighth most COVID-19 cases in the world, and is currently in the top five for rolling 7-day average new cases and fatalities. Latin America has been the hardest hit region of the world in terms of COVID-19 cases and deaths. Argentina has the world’s highest rate of positive COVID-19 tests, according to Oxford-linked tracker Our World In Data, with nearly six out of 10 yielding an infection, a reflection of low testing levels and loose enforcement of lockdown rules.Argentina hit 809,728 confirmed cases on Monday, with an seven-day rolling average of around 12,500 new daily infections. The country, which started strongly against the virus, passed 20,000 fatalities last week.Medical professionals said low-levels of testing and lax restrictions had propelled the high positive rate, that climbed from around 40 percent in August to just shy of 60 percent in the last week, a Reuters calculation using health ministry data shows. Topics :last_img read more

Barbados still has many mountains to climb, says PM

first_img Share Share Sharing is caring! NewsRegional Barbados still has many mountains to climb, says PM by: – January 17, 2012 Tweetcenter_img Share 8 Views   no discussions Barbados Prime Minister Freundel Stuart. BRIDGETOWN, Barbados (BGIS) — Barbados may have made significant strides economically and socially, but Prime Minister Freundel Stuart said there are still many ‘Mount Everests’ to climb on the path to future development. Speaking during a ceremony to mark the official launch of the 1652 Foundation last Friday, Stuart said Barbados did not reach its present state of development by accident.Rather, he pointed out that progress was made as a result of “having to come through the”1651/52 period, through the slavery of the 1930s, through the birth pangs of political parties and trade unions and the independence struggle of 1966,” the prime minister told his audience. Notwithstanding these achievements, Stuart admitted there were still some battles to be fought, and expressed faith in the resilience and character of Barbadians, attributes which he described as being necessary to “pilot the island through difficult periods, from time to time”.“We still have many Everests’ to climb. History does not develop in a straight line… there are zigzags; there are battles which you think that you have won and have to fight over again, because of how chaotic history can move sometimes. So, we still have to continue our efforts to create a society of which everybody in this country feels a part, because there are new challenges which we always have to confront.”Underscoring the significance of the signing of the 1652 Charter, in laying the foundation for the structure of governance in Barbados, Stuart said the signing represented a “landmark along the highway of Barbados’ history”. “I am refreshed by the fact that we are not asking, as happens when we are discussing slavery, why we have to go so far back… if you do not know where you have come from, you cannot possibly understand where you are… and where you are going,” Stuart added.During the event, CARICOM ambassador and historian, Robert Morris, and a descendent of the Alleyne family of the 1650s, Richie Alleyne, addressed the event; while chairman of the Foundation, James Corbin, rolled out the Foundation’s five-year programme of activities to highlight the key elements of the Charter and its historical significance. By Julie CarringtonCaribbean News Nowlast_img read more