Opinion 2 3 Facebook Facebook piloui Report Last modified on Tue 4 Sep 2018 08.45 EDT aganuin 33 34 Share via Email Maclon 6 7 Facebook Reply Jiri | Pick Share on Twitter Share on Twitter Freddie Mac and Fannie Mae Report Facebook ‘According to Paulson, the firms rescued by the Fed had enough collateral for the loans they needed, and Lehman Brothers did not.’ Photograph: Alex Wong/Getty Images HarryFlashman Ten years after the financial crash, the timid left should be full of regrets 3 4 Report 3 Sep 2018 17:30 JonS78 Share on Facebook Facebook Admittedly, accountants are pretty stupid even if they are academically clever. Just look at the weekly scandals that occurs globally. Reply aganuin Financial crisis Banking Twitter Facebook Bitter worked in a poetic fashion, 2 3 Facebook 0 1 Share Share via Email 3 Sep 2018 18:02 raphanus 4 Sep 2018 0:00 eezysqueezy Show 2 more replies Michael Callahan Report Yes, because every single middle class family that lost their home, kids college funds or pensions in 2008 got their government bailout paid in full, but those poor investment bankers only got a meager golden parachute. https://abcnews.go.com/Blotter/story?id=5965360&page=1 Erongi XOXOX Berny3 InigoDeMontoya Really ? I think the banks would have learnt more if more had failed and more of the senior managers/directors had been criminalised and stripped of their personal wealth. Reply Share The trail goes furthur back in that the regulators,apparently,had no knowledge that packaged mortgages were worthless whereas everyone else in the industry knew what was going on. Deutsche Bank, Citigroup, JP Morgan Chase,RBS, Bank of America and Goldman Sachs were all fined huge amounts for their activities with bundled worthless mortgages,years afterwards.How useless were the regulators and others if they are implicit in the process either through incompetence or worse ,cooperation ? How useful are increased requirements for capital reserve if real value of bank assets is grossly overvalued due to failure by auditors, who seem to have got away with murder, as well as regulators.How much in this gravy train has really changed? Report collapsed | Pick Facebook Reply Report Share on Facebook Report BoneyOCoonassa Share Timothy Geithner Share on LinkedIn Reply Share 3 Sep 2018 23:03 Facebook Twitter Email (optional) ladyga Reply 3 Sep 2018 15:54 3 Sep 2018 20:19 3 Sep 2018 20:30 Excellent point, it is often made out that the 2008 bail-out was a once in a lifetime black swan event that was needed to address an unprecedented event. In fact the banks were bailed out every fart’s end in the US over the previous decades. Every time they screwed up they got sorted out by the government, Lehman was a good kicking that was long overdue. It was a similar case in Ireland, it was put about at the time that this was a one-off event, like heck it was, Irish financial institutions were bailed out at a rate of once every 10 years prior to this. When capitalist organizations (and I speak as a capitalist) are given socialist treatment there is a problem on both sides, but it is the capitalists who need to accept the blame. ID20857 | Pick Share piloui 3 Sep 2018 22:54 Share on Facebook Reply Threads collapsed The opposition to Fed rescues arises largely from a misconception that they transfer money from taxpayers to bankers who have lost risky bets. BaronVonAmericano | Pick Share on Facebook | Pick newest Share on Facebook | Pick | Pick Share Reply Share on Twitter Reply Making public perception of a potential bail out a more relevant factor in the decision than the actual facts about Lehman Brothers’ access to collateral seems pretty indefensible if you ask me. Share Share Report Share Thanks, Grauniad, for some balanced reporting at least… 1 2 Sounds like God’s Banker wanted LB out of the way. 4 Sep 2018 3:32 4 5 Share on Twitter Very good point. It also raises the question as to whether bailing out Lehman might have reduced the severity of the crash which followed? Speaking as a capitalist sceptic, very good post. Twitter | Pick Share on Twitter Twitter 16 17 Report Just because they could have paid the money back later doesn’t make this statement a misconception. Punishing an institution for the collapse of the economy, even if it makes said collapse worse, isn’t necessarily a bad idea. If only American politicians cared enough to follow up by implementing necessary regulation (starting with reinstating Glass-Steagall and campaign finance reform…), it may have been worth it. In essence, it’s like saying we shouldn’t shove the mob boss in jail because the community depends on his patronage. That may be true, and the community will suffer in the short run, but the ultimate goal is changing the system of dependency that allowed the mob to take over in the first place. Maybe the next crash will make this more obvious… but if there isn’t a radical political shift in the US I don’t see that happening any time soon. InigoDeMontoya eezysqueezy 4 Sep 2018 2:11 7 8 Share on Twitter Share on Twitter Facebook deise_sage 8 9 Twitter So-called market forces are just another way to dupe the non-rich into believing there is a plan and laws that govern. There are not. It’s all done ad hoc and on the spot to relieve the wealthy from responsibility for depredation. Report Twitter 3 Sep 2018 19:25 3 Sep 2018 18:16 Twitter 5 6 | Pick Share on Twitter Share Report Report Twitter 5 6 Twitter Twitter Facebook 3 Sep 2018 22:47 InigoDeMontoya Report 3 Sep 2018 17:31 | Pick Share on Facebook Report 3 Sep 2018 19:01 Erongi Share on Twitter Share on Facebook Reply Share Share on Twitter Facebook 3 Sep 2018 16:44 1 | Pick Facebook Twitter Reply I can’t feel bad that this happened to Lehman. I do feel bad that AIG and others were bailed out. I especially hate the fact that Goldman Sachs, which by all rights should have gone under, was allowed to declare themselves a bank and therefore receive bailout money from taxpayers. In what sense was Goldman ever a bank? 1 2 Mark David Turner InigoDeMontoya Share on Facebook Share Share on Pinterest Facebook Reply | Pick Report 3 Sep 2018 20:35 Share Facebook | Pick Share on Twitter 7 8 Report Share on Facebook Facebook Share on Twitter Twitter Twitter Reply Share on Facebook Share on Facebook Every millionaire protected. Many dont even lose jobs. Meanwhile, poor people are starving and the government claims poverty. Facebook Share Reply Comments 187 Reply Show 4 more replies raphanus “That was the CAUSE of the banking problems, not the result of it.”No, greedy bankers and loan companies wrote worthless loans that weren’t backed by the income to pay them back. They were based on the promise that property values would continue to rise and the borrowers could refinance in a couple of years for a cash payout on the new inflated values driven up by the buying frenzy caused by all the speculative loans. The bankers then bundled the worthless paper into derivatives, sold them off, and left the suckers who invested in them to spread the disaster when the bubble finally burst. As for mortgages being “non-recourse”, most of the borrowers who were “under water” did not just walk away from their loans. They continued paying mortgages at their previous bubble values, not on the new lower value of their property. That sucked money out of the economy and allowed the banks to pay back the government financing with interest. Had more government intervention gone into writing down the inflated loans to the current market values, the reduction in loan repayments would have gone into homeowners’ pockets and into the economy rather than into the banks’ vault. Report Report Reply Erongi 3 Sep 2018 17:23 Twitter Hank of Goldman Sachs had the chance to save but didn’t, their biggest competitor…. And people still debate WHY? Reply 0 1 15 16 Facebook Reply Reuse this content,View all comments > JonS78 Reply | Pick Erongi Share 2 3 0 1 unthreaded aganuin 4 Sep 2018 1:08 Twitter Share on Twitter Report | Pick Report 0 1 Lehman Brothers Share This comment was removed by a moderator because it didn’t abide by our community standards. Replies may also be deleted. For more detail see our FAQs. Show 5 more replies XOXOX Berny3 Facebook Twitter Another set of bibs and plastic spoons wouldn’t have hurt. Reply hum9ol Facebook Facebook recommendations CivilDiscussion 1 2 The Lehman Brothers party is a red herring – it’s the system that stinks Reply ladyga Facebook 6 7 Report 4 Sep 2018 2:06 Facebook Facebook aganuin Twitter Share Share | Pick Report 0 1 Share 3 Sep 2018 16:54 Since you’re here… Share Share on Twitter Twitter Bill Young ID20857 Twitter Report Share Report baldisgood 5 6 Share on Facebook Straining to make this about the EU, aren’t you? FatCat08 | Pick Share Share on Twitter 10 11 | Pick Report What goverment? Who’s starving? Twitter | Pick Share on Facebook Maclon 3 Sep 2018 18:24 Minnoka Report 10 11 Share on Twitter Reply elliot2511 | Pick If I’m correct, Hank Paulson had been a senior executive in Goldman Sachs before he joined W’s cabinet. Its also well recorded that others who have gone this “public service” route often end up in lucrative gigs in the banking/finance sector when they exit the revolving door. How can people in this situation be expected to objective arbiters of what serves the public interest? For instance – eventhough the short term consequences were dire – maybe short term was not the only consideration. The absence of a big beast like Lehmans from the sector might be expected to benefit those who survive with a larger share of the market. The decision makers should have no scope for conflict – it must be time to prohibit easy movement between the gamekeepers of the public interest and the poachers of private profit. Even if there were no conflicts in the Lehman case, the careet contexts of thre decision makers should not be a source of doubt. Share on Twitter Reply joAnn chartier Lehman Brothers Reply Report Share on Twitter WillisFitnurbut Facebook Indeed; it took ages to work out that the London branch was only illiquid and not actually insolvent. This was, perhaps, Lehman’s big failing — not having put in place the ability to generate an asset list/collateral total fast enough to be able to qualify for saving. Twitter | Pick ‘How could it be legal to rescue Bear Stearns and AIG, but not to rescue Lehman?’Photograph: Linda Nylind/Guardian Share Share on Twitter Reason (optional) Twitter Share on Facebook Twitter 3 Sep 2018 17:57 Report Share on Twitter brilfc | Pick The packaged mortgages were not “worthless”. The low-grade tranches turned out to be worthless. The high-grade tranches were merely ‘worth less than they were assumed to be’. The problem was not their underlying value, but the inability to easily work out their future values at a given point in time. Share on WhatsApp Reply Share on Twitter 4 Sep 2018 11:08 Hank Paulson had been a senior executive in Goldman Sachs before he joined W’s cabinet. Its also well recorded that others who have gone this “public service” route often end up in lucrative gigs in the banking/finance sector when they exit the revolving door. Paulson was a banker, who refused to bail out a bank. 3 Sep 2018 17:28 Facebook Twitter Facebook | Pick Report Share on Facebook | Pick Hundreds of thousands of people lost their homes, the housing market crashed, and millions of people owed the banks more than their houses were worth for years, but the bankers made out like bandits and all got their bonuses. The world economy would have been better off if all the money given to the banks had been given to home owners to pay down the excessive mortgages the financial institutions had, in many cases fraudulently, given them. Dodd-Frank was imposed to demand more responsibility from speculating bankers interested only in their own profit. Now right-wing politicians are doing everything they can to gut Dodd-Frank so that the bankers can eagerly lead us into the next economic crisis, all the while raking in enormous profits. If the EU bankers had been forced to write off 50% of their Greek debt initially, that crisis would have been resolved years ago with far less suffering to ordinary people all over Europe. The author thinks it’s a positive outcome that money injected into the banks was all paid back with interest? I guess he thinks it’s OK for the general public to suffer as long as the bankers get their generous profits back. Share on Facebook 3 4 Order by oldest Share Reply Twitter Share on Facebook | Pick Pinterest BoneyOCoonassa Reply Report Twitter comments (187)Sign in or create your Guardian account to join the discussion. 3 Sep 2018 17:22 Share on Facebook Report Reply 5 6 Excellent comment. The extreme overvaluation of assets must have made it impossible to to assess how much collateral banks actually had in 2008. Some or most of those banks on your list in the first paragraph have been charged and fined multiple times for sharp practices and wrongdoing. There should be a system whereby they get points on their banking licience for every fine, until it gets taken away from them 3 Share on Twitter | Pick 3 4 Reply Share on Facebook Share on Twitter Share on Facebook Report DavidTheDude rdobinson Share on Twitter 3 Sep 2018 19:18 Share on Facebook Share on Twitter Share Moral hazard is a very real long term problem. You could just as easily argue that it’s indefensible not to pay a random when kidnappers are threatening to kill a hostage. Twitter Share on Twitter Show 4 more replies | Pick Twitter Report What is the alternative though? Appoint people with no experience of working within financial services? This seems like a much less favourable alternative. Share on Facebook hum9ol 3 Share on Twitter I know one of the auditors on the subsequent Lehmans audit after it had been allowed to fail. They did have the assets to survive all be it, it took them about 4 years to find and calculate all their assets. There is no evidence at all. Through the Primary Dealer Credit Facility (PDCF) Lehman could borrow as much as it could provide collateral to cover. Lehman just had to deliver the collateral and the Fed would lend the money. In fact, Lehman borrowed $28 billion on the day it filed bankruptcy against total collateral of $32.866 billion. That tied for the third largest loan the PDCF had made up to that date. The largest PDCF loans to Bear Stearns were $28.5 billion, $28.2 billion and $28 billion. Subsequent to the Lehman failure, three larger firms, Barclays, Morgan Stanley, and Merrill Lynch, borrowed larger amounts. (I have heard of pawn brokers who will come to your home and search for collateral they can accept, but it doesn’t work that way in the financial markets where everything is electronic.) When the government didn’t have time, the IMF did. Also, think savings & loan crisis which helped the larger institutions hoover up the smaller ones. Facebook Facebook KatieL 3 Sep 2018 21:02 That’s not what I mean at all. The freezing of the financial system when Lehman fell precipitated the biggest financial crisis in history. For a few days there was a possibility that banks would no longer exist in their current form, vast swathes of the economy would stop functioning and millions of people / businesses would be stuck in courts for years. Yet politically they had to try it, I’m sure in the hope it wouldn’t be as contagious as it was. As it happened, Lehman’s collapse showed they couldn’t let a similar entity go through the same thing. Reply Report Cupidity. Romancing the markets? | Pick Facebook Facebook Reply Reply Share on Twitter Mark David Turner Share on Twitter Twitter willyrobinson Reply Share Share 4 Sep 2018 1:58 Share on Twitter gavindac1 9 10 Report | Pick Reply Report Share Share on Facebook Reply Facebook Twitter 4 Sep 2018 3:56 Laurence M Ball 2 3 | Pick Report Reply Report Twitter Think this is the first article I’ve read in the Guardian that criticises politicians for NOT bailing out a bank. Share Facebook Share on Twitter Mon 3 Sep 2018 03.30 EDT Share on Twitter Read more HarryFlashman joAnn chartier KatieL brilfc 14 15 2 3 Report 3 Sep 2018 20:49 Share | Pick Facebook KatieL Jiri Share on Facebook Share on Facebook Reply KatieL Report 10 11 Share on Twitter Share on Facebook 3 Sep 2018 17:35 InigoDeMontoya Share Reply expanded Share on Twitter Share on Facebook Report Share Twitter 6 7 Reply deise_sage Share on Facebook Reply eezysqueezy Twitter | Pick 4 Sep 2018 3:44 Twitter | Pick Larry Elliott Report Reply Twitter 4 Sep 2018 3:45 Facebook Report Twitter 4 Sep 2018 3:30 Report Report Facebook InigoDeMontoya 3 Sep 2018 20:38 Report Twitter Report Share Share on Twitter “and all got their bonuses.” Well. Except the ones who were fired or made redundant. And the ones who went to jail. And the ones who didn’t get a bonus that year. “Hundreds of thousands of people lost their homes, the housing market crashed” That was the CAUSE of the banking problems, not the result of it. “millions of people owed the banks more than their houses were worth for years” Not really — this was in the US where a large proportion of mortgages are “non-recourse”. | Pick Stefan Stern Share Twitter Share on Twitter 8 9 “Doesn’t really address the central irony that in letting Lehman fail, they ensured that they would likely never let anything else fail ever.” By allowing a bank to actually fail the Fed was somehow broadcasting to banks that it wouldn’t let them fail? How does that follow? I don’t think what you have posted is ironic. Truthfully, it instead sounds more like a non sequitur. “If one examines Lehman’s finances on the eve of its bankruptcy, it is clear that the firm did have ample collateral to borrow the cash it needed to stay in business” Incompetent misleading journo. Lehman was sitting on losses which would have crystallized anyway, bailout or not, and would have swallowed any net assets allegedly available for collateral. If Lehman has those, they would have borrowed to bail themselves out in the first place. I meant to say ”bidder”… Twitter Facebook Facebook Loading comments… Trouble loading? Since the dawn of the Thatcher/Reagan era, government has not been serving the public interest. Perhaps more accurately stated, since that time the focus of government policy has been to help those who do not need help, instead of those that do. deise_sage Share on Twitter hum9ol 4 Sep 2018 3:07 JonS78 4 Sep 2018 1:28 Reply Share | Pick Facebook 3 Sep 2018 22:29 3 Sep 2018 22:28 Share on Twitter Report Share You’re totally right. This is really the crux of the issue; At some point will the little people realize they are getting screwed by the rich (private AND public) and rebel. Share on Twitter | Pick Goldman did a quickie changeover to become a bank so they could get bailed out. Remember your government works day and night to help the rich stay away from losses. Share on Facebook Reply Share on Facebook Facebook Report Nobby Stiles 3 Sep 2018 19:54 10 11 Reply Report Share InigoDeMontoya Share on Twitter In 2007 Fortune magazine ranked Lehman Brothers investment bank number 1 on its list of “most admired securities firms”. Just a year later, on 15 September 2008, the financial world was shocked when Lehman, with $600bn (£463bn) of assets, filed for bankruptcy, causing chaos in financial markets: stock prices plummeted, credit flows froze, and markets feared that even larger financial institutions – from Morgan Stanley to Goldman Sachs and Citigroup – might fail.The Lehman bankruptcy was shocking, in part, because it was unique. Other financial institutions, such as Bear Stearns and AIG, also experienced crises in 2008 and surely would have failed if not for emergency loans from the US Federal Reserve. On the eve of its bankruptcy, Lehman urgently sought similar aid from the Fed, but the policymakers at the time – Fed chair Ben Bernanke, Treasury secretary Henry Paulson, and Timothy Geithner, president of the Federal Reserve Bank of New York – said no. Ever since, Bernanke, Paulson and Geithner have given a consistent rationale for their decision, one they are now reiterating at media events commemorating the 10th anniversary of the financial crisis: the trio wanted Lehman to survive, but rescuing it would have been illegal, and they were unwilling to break the law. As Paulson put it in July, “we didn’t believe then and we don’t believe now that there was a single authority we had” that would have allowed a Lehman rescue. Report Share Facebook piloui JonS78 Twitter Twitter 1 2 6 7 Share Facebook 3 Sep 2018 22:32 Share on Facebook Share on Twitter Share on Facebook You seriously think Lehman was Goldman’s biggest competitor? Also a bit silly to suggest that an ex head of Goldman Sachs would always take decisions solely in the interests of his ex employer. if he did that he wouldn’t be treasury secretary in the first place. Paulson wanted Barclays to take over Lehman – but that deal was killed from our side. If Paulson was acting solely in the interests of GS he wouldn’t have pushed for his competitor to be taken over by another competitor creating a stronger competitor.. 1 2 JonS78 3 Sep 2018 17:26 Mr Ball is right in that Lehman had been a target for some years, given its culture of arrogance and extreme cupidity. When the infamous hedge fund Long Term Capital blew up, Lehman was the only investment bank not participating to the safeguard effort undertaken by the Fed – It sealed its fate at that moment. As a trader at one of the major investment bank, we had previously alrerady received the instructions from the top no longer to accept Lehman’s name… for a few hours. But the conclusion he implies that Lehman should have been saved is very debatable. Another scenario would have been to let many more banks fall, and nationalize the system, which would have been much more fair, not just to Lehman’s bankers but to the public. Today in any case, banks have become regulated utilities, but with undeserved windfall profits opportunities still largely left to banks shaerholders. This is absurd. When I read that governments have “made money” out of rescuing banks, it strikes me most people still don’t understand the workings of fiat money. Don’y they see that, by construction, if you throw in “enough” money, you’ll put the system afloat again? Where is the “merit”, was this a valid “test”? did we learn anything? That is what happened. And instead of talking about gain or loss in terms of electronic money, one should wonder if thee was a gain or a loss to society, whether we live in a better or worse place. That is the real question. Why trillions for saving banks make more sense than trillions to fund universal basic income (as a way to cut out the tail risk plaguing anyone’s life now that machines take over jobs one after the other) – or trillions to fund the environmental transitions to save our habitat and permit that mankind lives a bit longer on this planet ? those are the real questions Twitter John Burnett Share Share Twitter 11 12 Facebook Share on Twitter Minnoka 4 Sep 2018 3:43 Although that’s all falling apart with the leadership of the Labour party embracing treating members of one religion differently. InigoDeMontoya Share Facebook 2 3 Reply baldisgood 0 1 Share on Facebook Share on Facebook Share on Facebook Share on Twitter | Pick Report Opinion Report Reply 0 1 Share on Facebook 4 Sep 2018 0:45 Share Share on Twitter Facebook Reply Twitter 1 Report Twitter 3 Sep 2018 18:26 yet another shoehorn award! Well done! | Pick 2 Facebook | Pick Reply SwissUser Facebook Share on Facebook Show 25 Topics Maclon Report Share Misleading, incorrect comment… The 2008 crisis was known as the credit crunch because lending between banks dried up. Lehman had assets to borrow against but firms were unwilling to lend because they were worried about doing so. Take Lehman’s European business for example – the administrators have wound it down with several billion of assets remaining after paying back secured creditors and taking a huge amount in fees. Short term lending made available to the other bank allowed them to weather the crisis, but unfortunately Lehman Brothers was made to be the fall guy Reply Report How could it be legal to rescue Bear Stearns and AIG, but not to rescue Lehman? The 2008 decision-makers point out that the Federal Reserve Act requires that Fed loans be secured by collateral, which protects the Fed and taxpayers from losses if the loans are not repaid. According to Paulson and colleagues, the firms rescued by the Fed had enough collateral for the loans they needed, and Lehman Brothers did not.Lehman executives have bitterly contested this story, saying their firm could have survived if only the Fed had treated it the same way it treated other financial institutions. Some disinterested observers accept the policymakers’ explanation for their decision, but others do not. As Paulson ruefully put it in July, when he and his colleagues were asked the question of why they let Lehman fail, “we answer it and most people still don’t believe us” (a statement that elicited chuckles from an audience of sympathetic journalists).There is a vast amount of publicly available information on the Lehman bankruptcy, much of it gathered by the Congressionally appointed Financial Crisis Inquiry Commission and by the examiner appointed by the court. These and other public records provide good reason for people not to believe Paulson, Bernanke and Geithner: their story isn’t true. Facebook The banks could “pay the money back” because the Fed. essentially GAVE the banks $2.2 TRILLION in printed $$$ – “buying” lots of junk assets for whatever the banks TOLD them to pay. This was all behind the scenes; the $800 billion bailout Congress passed on top of this was the public part that got all the attention. Can you IMAGINE how all the neoliberals would HOWL if the Fed printed $2.2 trillion and GAVE it to working people? ” Paulson told the others: “I can’t do it again. I can’t be Mr Bailout.” Paulson’s chief of staff put the point bluntly in an email to Paulson’s press secretary: “I just can’t stomach us bailing out Lehman … will look horrible in the press, don’t u think?” That’s a perfectly sensible attitude to take. Even if you think it would have been better for Lehman’s to have been bailed out (which, with 20/20 hindsight, it probably would have been, all things considered), at the time, given the situation before him, Paulson’s decision was perfectly reasonable and ten years on, is entirely defensible. JumpingSpider Share on Facebook Facebook | Pick Market forces must be allowed to operate unfettered. Too big to fail is immoral. Support The Guardian Show 1 more reply Correct. Reply Report Share on Facebook Facebook Share on Facebook 12 13 JonS78 Report Share on Facebook KatieL | Pick The error was the earlier bail-outs. These delivered the wrong message and Lehman assumed it was in line for a handout. Reply Twitter Share on Facebook Lehman was left to fail because it was not Goldman Sachs. Now THAT would have been different. Dickie Fuld was just not in the clique Share on Twitter Would have helped less that requiring banks to bail out homeowners as a condition on the $29 trillion in near-zero interest loans made by the Fed. Had everyone kept their home our economy would be vastly better. | Pick | Pick Twitter Share on Twitter 3 Sep 2018 19:06 | Pick 4 Sep 2018 14:44 Share on Twitter Share on Messenger Facebook Facebook BoneyOCoonassa 100 Jiri | Pick gavindac1 It is what made Britain great. It is what makes the US great and will make it great again. Reply 6 7 Facebook Share on Facebook The 2008 crisis was known as the credit crunch because lending between banks dried up. Lehman had assets to borrow against but firms were unwilling to lend because they were worried about doing so. 1 2 Share 1 2 US economy | Pick Close report comment form Twitter HarryFlashman Share on Twitter 0 1 You forget how institutionalised people become.Most front office people move very 3-6 years – check LinkedIn. He was a lifer and a ‘Goldman’. Reply Share Facebook 4 Sep 2018 1:00 1 2 Share on Facebook | Pick deise_sage BoneyOCoonassa 3 Sep 2018 19:05 Shares7272 Share on Twitter 3 Sep 2018 16:34 Share on Twitter Facebook | Pick The key policymakers have always maintained they had no choice but to let Lehman collapse. That’s simply not true | Pick 4 5 Share on Facebook Share Paul Cockburn Share on Twitter TaliShar Twitter Facebook Share on Twitter Share Report | Pick Twitter 25 Report Share Twitter Reply View more comments Thanks for doing the digging for us. That habit we have of just accepting what is put before us — in news/economics/politics — without that background of who what and why we are just rah rah for a team rather than who and what is behind the latest gasp of outrage. 3 Sep 2018 17:13 XOXOX Berny3 Share on Twitter Facebook Ten years on, the Fed’s failings on Lehman Brothers are all too clear | Pick | Pick Twitter DinkSinger Facebook Whilst I am not condoning either the leverage – which was excessive – or their business model, they only needed sufficient liquidity to keep going and back out with losses to avert what happened. Also, the European – London – business could have offset/cover a lot of losses and prevented the scale of the crash. Share Show 3 more replies Share on Facebook Share on Facebook Facebook Facebook oldest Exactly! It would be helpful if The Gaurdian included biographies of it’s invited columnists so the rest of us could get some sense of who they are. Lawrence Ball is an American “New Keynesian” macroeconomist with a fairly impressive background. You can find his qualifactions online: M.I.T., Princeton, Harvard, and recently Johns-Hopkins universities, as well as a lot of work for several central banks and international organizations. You can probably trust his research. The bigger questions of “what should have been done” and “whose fault was it” are something else. Bill Young 4 Sep 2018 3:29 | Pick Reply 16 17 Reply CivilDiscussion Share on Facebook Share on Facebook Ben Bernanke Couldn’t agree more, not a single bank should be allowed to fail they all should have been propped up with trillions of dollars. Maybe the Fed can print a few trillion more and Lehman Brothers can be revived.Neoliberal “capitalism” looks a lot more like Neo-feudalism. Twitter | Pick 3 Sep 2018 20:02 10 11 3 Sep 2018 17:44 Share on Twitter Share on Facebook Share on Facebook Share KatieL Michael Callahan Twitter Share on Facebook Reply Many emails and memos document the discussions among Fed and Treasury officials in the days before the bankruptcy, and they make it clear that the discussions had nothing to do with the Fed’s legal authority or Lehman’s collateral. Instead, Lehman’s fate was determined by officials’ views of the political and economic consequences of a Lehman rescue or a Lehman bankruptcy.The deciding factor was politics: the decision-makers, especially Paulson, were unwilling to endure the intense criticism that would have followed a Lehman rescue. Having experienced the backlash from politicians and the media against the Fed’s loan to Bear Stearns in March 2008 and the government takeovers of Fannie Mae and Freddie Mac in early September, Paulson told the others: “I can’t do it again. I can’t be Mr Bailout.” Paulson’s chief of staff put the point bluntly in an email to Paulson’s press secretary: “I just can’t stomach us bailing out Lehman … will look horrible in the press, don’t u think?”Another factor was that policymakers did not fully anticipate the severe damage that the Lehman bankruptcy would inflict on the financial system and economy. Today, Paulson, Bernanke and Geithner claim they knew in advance that the event would be a “catastrophe”, a “calamity”, and an “epic disaster”. But, once again, their claims are contradicted by the real-time record. As Lehman faced bankruptcy, policymakers hoped that they could calm financial markets with measures including increased lending to Morgan Stanley and Goldman Sachs.But what about the collateral issue that is central to the official Lehman narrative? If one examines Lehman’s finances on the eve of its bankruptcy, it is clear that the firm did have ample collateral to borrow the cash it needed to stay in business, a fact that officials would have discovered had they actually looked.Because Lehman had ample collateral, a short-term loan from the Fed would clearly have been legal, and would have created very little risk for the Fed or taxpayers. With help from the Fed, Lehman might have weathered the financial crisis and be a healthy firm today. Even if Lehman had proved to be unviable in the long run, temporary assistance would have given it time to wind down its business in an orderly way, which would have lessened the disruption of the financial system, the severity of the recession and the loss of jobs. Share on Facebook 0 1 | Pick 4 Sep 2018 6:10 Share on Twitter 2 3 Report Share 3 Sep 2018 17:58 Share on Facebook Share on Twitter baldisgood | Pick Share on Twitter Twitter Share on Twitter All Twitter Share on Twitter Report 0 1 2 3 Debauchery2 Twitter | Pick Show 1 more reply Reply | Pick 4 Sep 2018 3:14 Share on Twitter Facebook Twitter Report Reply 9 10 Twitter Twitter Reply 3 Sep 2018 18:50 3 Sep 2018 18:52 CivilDiscussion ID20857 | Pick Share on Twitter Reply | Pick Share on Facebook Twitter 4 Sep 2018 6:56 Reply Minnoka Facebook Lafcadio1944 | Pick osm2009 Succe55 | Pick Yes, But, I like to know what will happen next??Where are we headed financially.?? The next recession will probably be as bad asthe one we had back in 2006. Remember, here in the states we don’t have any formof an actual safety net, and even with a steady job you’ll be a fool to feel too comfortable. The US-Gov. is sold out to the highest bitter.etc.etc…. Share elliot2511 2 3 Twitter Share on Facebook In that role, he was as much a politician as central banker. Share 3 Sep 2018 20:48 Share Twitter Twitter Share Share on Facebook 3 Sep 2018 16:06 Share on Twitter 3 Sep 2018 15:48 Report Report Reply Mark David Turner Share on Facebook | Pick Reply Twitter Share on Twitter Facebook Facebook Reply Share Reply 7 8 Share on Facebook 3 Sep 2018 20:48 3 4 | Pick Twitter Sorry there was an error. Please try again later. If the problem persists, please contact Userhelp Reply Share on Facebook Twitter Reply Report 2 3 Reply Share DavidTheDude Share Share SwissUser Share Share on Facebook Share Maclon 2 These key policymakers attacked in this cif are right. The claims here are nothing more tha strawmen fallacies and wild fanciful speculations specially selected to fit with his opinions. Despite the claim in the title of his new book being promoted here, he does nothing to set the record straight. comment Share on Twitter Share 9 10 baldisgood 4 Sep 2018 15:16 Share on Facebook Share on Twitter Twitter Read more Doesn’t really address the central irony that in letting Lehman fail, they ensured that they would likely never let anything else fail ever. I’d certainly disagree with the idea that Lehman was sitting on sufficient collateral – their leverage was (as I remember, please correct me) over 30x at a time asset prices had been hammered. The chances of FMV were minimal. Their balance sheet was just too stretched. Yes Lehman might have survived in theory but in the same way every bank could have survived when it didn’t. There was no confidence in Lehman as a counterparty, people were stopping doing deals with them. Liquidity was evaporating in the exact areas into which they might have sold assets. US elections were coming. They couldn’t have survived in practice. Share on Facebook Facebook hum9ol Share on Facebook 3 Sep 2018 23:13 | Pick NeverMindTheBollocks 3 4 Share Share on Twitter | Pick … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. The events of 2008 will not be the last financial crisis in US history. Sooner or later, another major financial institution will find itself in trouble, and policymakers will have to decide whether to rescue it. We can hope that the Fed’s officials have learned the lessons of 2008, so that they stand ready to rescue the next Lehman Brothers.There is reason for worry on this score. The “bailouts” of 2008 were highly unpopular across the political spectrum: Bernie Sanders derided them as “socialism for the rich”, and conservatives were also distressed by government intervention in banking. These views led Congress, as part of the Dodd-Frank Wall Street Reform Act of 2010, to restrict the Fed’s authority to lend to distressed financial institutions. The details are complex, but one upshot is that a rescue of Lehman Brothers might truly be illegal under current law.The opposition to Fed rescues arises largely from a misconception that they transfer money from taxpayers to bankers who have lost risky bets. In fact, many of the Fed rescues in 2008 – and certainly the rescue of Lehman Brothers that could have occurred – were short-term loans that were very likely to be paid back with interest. Even if loans had not been repaid, collateral protected the taxpayers from significant losses. If members of Congress wish to reduce the dangers of future financial crises, the first thing they can do is repeal the Dodd-Frank restrictions on Fed lending.• Laurence M Ball is the writer of The Fed and Lehman Brothers: Setting the Record Straight (Cambridge University Press) Twitter And EU lets these kind of people have all the power. But being against the EU apparently make you a racist and right-winger in the crazy world of The Guardian. Share on Facebook Facebook 13 14 0 1 4 Sep 2018 8:00 Share Report Report Share on Twitter 50 Share If one examines Lehman’s finances on the eve of its bankruptcy, it is clear that the firm did have ample collateral to borrow the cash it needed to stay in business, a fact that officials would have discovered had they actually looked. That seems a very bold claim to make. Some evidence to back that up would be helpful. Lehman had collateral because I say they had collateral and everyone else was wrong doesn’t really qualify as evidence. Report Twitter 3 Sep 2018 23:02 DavidTheDude Share on Facebook 11 12 Share on Facebook Facebook Share on Twitter | Pick Would have encouraged Greece to borrow more if their debt was written off. They have been poor at managing money for a generation, at least, and they need to learn to avoid taxes and not retire very young for retiring from “hazardous” professions like hairdressing. FatCat08 Facebook Minnoka osm2009 Share on Twitter “If Paulson was acting solely in the interests of GS he wouldn’t have pushed for his competitor to be taken over by another competitor creating a stronger competitor..” Hahahahah… nice one. Nobody likes a monopoly until they own one. Facebook 24 25 3 Sep 2018 19:23 Share Share on Twitter Share on Twitter Facebook Rolling Stone magazine should resurrect the Matt Taibbi articles that exposed the whole ugly corrupt mess — those were the blazing inferno articles that named and blamed with absolute clarity and appropriate giant squid context. Report | Pick Share on Facebook Share Share on Facebook | Pick Please select Personal abuse Off topic Legal issue Trolling Hate speech Offensive/Threatening language Copyright Spam Other Share Share on Facebook 0 1 Sign in or create your Guardian account to recommend a comment Share on Facebook
Share via Email Editor apologises after owner refused to publish line in memorial that cost family $1,684 to publish Share on Facebook Donald Trump Kentucky This article is more than 5 months old Brogan Maguire Last modified on Thu 14 Feb 2019 20.04 EST Family of Frances Irene Finley Williams, from Louisville, were told ‘Her passing was hastened by her continued frustration with the Trump administration’ had to be cut.Photograph: Jonathan Ernst/Reuters Share on Pinterest Share on LinkedIn Kentucky Support The Guardian Reuse this content Share on WhatsApp Kentucky newspaper removes criticism of Trump from woman’s obituary Share on Twitter Share on Messenger A newspaper in Kentucky has apologised after refusing to print a line in an obituary of an 87-year-old woman that suggested frustration with Donald Trump had hastened her death.The sentence omitted from the obituary of Frances Irene Finley Williams read: “Her passing was hastened by her continued frustration with the Trump administration.” Laurie Bolle, the director of sales for Gannett, the company that owns the Courier-Journal newspaper in Louisville, said the decision to cut the line was “a mistake”.“Mrs Williams’s obituary should have published as it was presented to our obits team and as requested by the family,” said Richard A Green, the Courier-Journal’s editor.He added: “In this political climate we now find ourselves, partisanship should have no role in deciding what gets included in an obituary that captures a loved one’s life — especially one as amazing as what Mrs Williams led. I’m certain she is missed greatly by those who loved her. We send the family our deepest condolences and apologies.”Williams died just before Thanksgiving last year. Her daughter, Cathy Duff, said her brother had told her on Christmas Eve that the Cremation Society of Kentucky, which had been dealing with the obituary, had received an email from Gannett saying: “Per our policy, we are not able to publish the obituary as is due to the negative content within the obituary text.”The email, seen by the Washington Post, added: “You are more than welcome to remove the negative content so we may move forward with publishing if you wish.”The family agreed to remove the line referring to Trump but Williams’s son, Art Williams, wrote a Facebook post on 5 January that said: “I was, and still am, dumbfounded, surprised, but most of all disappointed and aghast that a once historically courageous American newspaper that exists by reason of freedom of speech would so trivially move to abate the free speech that it seems, when convenient, to hypocritically champion.”The post prompted a backlash against the paper.Duff said politics had been a “vital part” of her mother’s personality, which was why she had wanted to include the line in the obituary, which cost $1,684 to publish.Her mother’s interest in politics stemmed from growing up in the Great Depression, experiencing poverty that she felt could have been prevented, she said.Duff said Green called the family to apologise on Tuesday and informed them that the obituary would run in full. … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. news Shares310310 Share on Twitter This article is more than 5 months old Since you’re here… Share on Facebook Share via Email Topics Thu 17 Jan 2019 07.28 EST
Read more Trump announces delay in planned Ice raids on migrant families Moustafa Bayoumi Share on Pinterest Trump defends pre-dawn Ice raids on migrant families set to begin on Sunday US immigration Is showing compassion to migrants a crime? Topics Share via Email Reuse this content Amanda Holpuch and Martin Pengelly in New York and agencies Tomorrow is Sunday, and as many people of faith attend religious services, the president has ordered heartless raidsNancy Pelosi Sat 22 Jun 2019 15.35 EDT Share on WhatsApp “If we ever closed the door to new Americans, our leadership in the world would soon be lost.”At the White House on Saturday morning, Trump said: “Some cities are going to fight it but if you notice they’re generally high-crime cities. If you look at Chicago, they’re fighting it … and many of those cities are high-crime cities and they’re sanctuary cities.”Sanctuary cities do not co-operate with federal efforts to deport undocumented migrants, of whom there are around 11m in the US as a whole.Among civic leaders, Houston police chief Art Acevedo said Ice officials had declined to provide information about expected operations. “We rely on the cooperation of that population to keep all Americans safe, all residents safe, and all members of society safe,” he said. “When you say you’re going to go arrest millions of people, that has a chilling effect on [that] cooperation.” Democrats Donald Trump … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. news Nancy Pelosi Since you’re here… Donald Trump appeared to announce he a delay in planned raids on undocumented immigrants, six days after he took the unusual step of announcing an operation by Immigration and Customs Enforcement (Ice) before it took place. US politics Support The Guardian Undocumented migrants in Texas. In cities where raids are expected, immigrant and advocacy groups are preparing to respond.Photograph: John Moore/Getty Images US domestic policy Earlier, House speaker Nancy Pelosi appealed to religious leaders to call on the president to stand his operatives down.In a statement, Pelosi said: “Tomorrow is Sunday, and as many people of faith attend religious services, the president has ordered heartless raids. It is my hope that before Sunday, leaders of the faith-based community and other organizations that respect the dignity and worth of people will call upon the president to stop this brutal action, which will tear families apart and inject terror into our communities.”Acting Immigrations and Customs Enforcement (Ice) director Mark Morgan said this week the agency would target families that had received a removal order from a US immigration court. On Saturday, the president also said Ice would focus on removing the MS-13 criminal gang.Trump frequently seeks to link undocumented migration to concerns over crime, without citing evidence. The MS-13 gang, a common focus, formed among Salvadoran migrants on the US west coast in the 1980s before spreading across northern and Central America. It has a reputation for brutality, which critics of the president say has only boosted by his focus upon it.Speaking at the White House before his trip to Camp David on Saturday, Trump repeated his determination that “people that came into the country illegally … they are going to be removed from the country”.Immigrant and advocacy groups continue to prepare for such a move, which is expected to be similar to operations carried out since 2003, which have often produced hundreds of arrests. Trump said on Monday his planned raids would be the start of an effort to deport millions, a near-impossibility given limited resources. It is also unusual – if not without precedent – for families to be targeted instead of migrants with criminal histories.On Friday, Camille Mackler, the director of immigration legal policy at the New York Immigration Council (NYIC) told the Guardian her group had increased education and awareness efforts, advising those who received deportation orders to contact lawyers and telling people to make a plan for their family in case they are arrested.Advocates also said Trump’s announcement of the raids was timed to coincide with the launch of his re-election campaign. Sandra Cordero, director of Families Belong Together, a coalition fighting family separations, called it “a disgusting political ploy to stoke fear and rile up Trump’s base for 2020”.In her statement, Pelosi said: “Yesterday, the president spoke about the importance of avoiding the collateral damage of 150 lives in Iran. I would hope he would apply that same value to avoiding the collateral damage to tens of thousands of children who are frightened by his actions.”She also appealed directly to “the evangelical community”, a well of support for Trump, and pointedly quoted Ronald Reagan, a Republican idol, who said in his final speech as president in 1989: “Thanks to each wave of new arrivals to this land of opportunity, we’re a nation forever young, forever bursting with energy and new ideas, and always on the cutting edge, always leading the world to the next frontier… Share on Facebook Shares135135 Read more Share on LinkedIn US immigration Share via Email President had told reporters operation would begin soonPelosi: faith leaders must ask Trump to stop ‘brutal action’ Share on Twitter Share on Twitter Share on Messenger First published on Sat 22 Jun 2019 13.12 EDT Share on Facebook “At the request of Democrats,” the president tweeted from Camp David on Saturday afternoon, “I have delayed the Illegal Immigration Removal Process (Deportation) for two weeks to see if the Democrats and Republicans can get together and work out a solution to the Asylum and Loophole problems at the Southern Border. If not, Deportations start!”Hours earlier, he had told reporters the raids would start next week or “maybe a little earlier than that”.On Friday, the Washington Post reported that an operation launching before dawn on Sunday would target up to 2,000 families in as many as 10 cities. The Miami Herald said those cities were Atlanta, Baltimore, Chicago, Denver, Houston, Los Angeles, Miami, New Orleans, New York and San Francisco.“This is all a game to him while people live in deep fear,” said Vanita Gupta, president and CEO of the Leadership Conference on Civil and Human Rights, after Trump announced his climbdown. “Human beings as political pawns.” Republicans
Carol Girt, Equipment Specialist at Easter Seals Crossroads, shows us head-mounted chin pointer for the iPad.Having trouble viewing the video-click hereShare this…TwitterFacebookPinterestLinkedInEmailPrint RelatedMonday Tech Tip: Dewey iPad standAugust 26, 2013In “Videos”ATFAQ005 – Q1: Is there an app that will allow a student to type and then highlight text in a variety of colors? Minimal steps preferred Q2: Where can I get a Lucy Keyboard? www.lucykeyboard.com Q3: If I can only do one thing to make my web store more accessible, what should I do? www.wc3.org/wai http://wave.webaim.org Q4: Can I get my iPad connected to a verizon (or other) data plan because I don’t have Wi-Fi connection at my workplace? Q5: Wildcard Question – Wade – Mac/Windows. what do you use and why? When (if) did it change?May 11, 2015In “Assistive Technology FAQ (ATFAQ) Podcast”HeadMouse ExtremeMarch 19, 2015In “Computers”
***[2:16] Interview with Betsy Beaumon*** JOSH ANDERSON: Benetech has been a leader in using technology for good since 1989. I’m sure that many of you have heard of — and probably used — book share in your daily life. That’s Benetech. But that’s not all it does to help people all over the globe. Benetech is also welcoming a new CEO to the organization, and we could not be happier to have her on the show to talk about her journey, talk about Benetech, and talk about what the future holds. Betsy Beaumon will be taking the reins of Benetech but has been kind enough to take time out of her scheduled to speak with us today. Betsy, welcome to the show.BETSY BEAUMON: Thanks very much. It’s great to be here.JOSH ANDERSON: We can’t wait to talk to you about Benetech and your exciting new position. But before we talk about that, can you tell our listeners a little bit about your background?BETSY BEAUMON: Sure. I am in an engineer, much like our founder Jim Fruchterman, an electrical engineer. I spent a number of years in the tech field and the for-profit world from semiconductors to data communications and lots of time in the software industry. I’m also a social entrepreneur, so I started my first social enterprise back in the nineties. It connects to some of the new work we are doing that we will talk about in a little bit, I’m sure. I also helped cofound a global trade management software company. I’ve done raw startups.I was brought to Benetech after we got our big award from the Department of education. We really needed to grow. As many of your listeners may know, book share was pretty small for a long time, doing great work but not breaking out. And then really that was a point where the need was obvious in the educational world. Book share one a competition around that, and all of a sudden Benetech was faced with the need to actually grow this little venture and do a lot more with it and get to what is not over 600,000 users. Again, we can talk more about book sure. But that’s really what I was hired to do at Benetech. I ran that, did that growth, and got us into of the things in the accessibility space like the diagram center that does R&D around science and math and helps beyond text and some other areas. I’ve been our president for the past four years.JOSH ANDERSON: I know that some of our listeners to know about book share. But for those who don’t, can you tell us what books share is?BETSY BEAUMON: Book share is the largest online library of accessible e-books all over the world. We now have users in over 70 countries. As I just mentioned, we have over 600,000 users. When I started, which was just about 10 years ago, I think it was about 20,000 users. So we’ve grown significantly in that time, and I’m very proud to say we’ve not only grown a number of uses but actually the amount of usage. We have all over 1.5 million downloads or usages every year. We know have people using book share on phones, tablets, computers, as well as specialized devices — Braille displays is a really important one — and commendation of all of those things.One of the interesting things we started doing in the past few years on book share is really looking around and saying, wait a second, we are a Silicon Valley software-for-good organization. We are good at this software stuff, and we had some good funding from the US Department of education to build out the platform for US students. But this could not only be useful as book share around the world, but our platform could really be useful for the other global libraries for people with print disabilities. So we are now offering a private label version of book share so that organizations, as well as individuals, can take advantage of the power of book share. What’s even cooler about that is that means as we’re doing new updates for, say, a student need in the US, that also translates to updates that these other libraries who are running on the book share platform get to take advantage of.JOSH ANDERSON: How was Benetech started?BETSY BEAUMON: Benetech goes back in — you mentioned 1989. It goes back to the days of what was originally Arkenstone. Jim Fruchterman, our founder, who — as you mentioned, I am taking over the reins from — actually founded Arkenstone in 1989 as one of the early reading tools that could read accessible books. And then fast forward, he ended up selling Arkenstone to freedom scientific. Because Arkenstone was a nonprofit, it’s not like he got to pocket all that money. He actually turn that into Benetech, because freedom scientific also bought the name “Arkenstone.” For those of you who are Lord of the Rings fan, you will recognize that terminology. What ended up happening is he said, wait a minute. There are lots of issues to solve in this world, definitely some in the accessibility space, but other ones as well. It was around 2000 when things were going absolutely bonkers here in Silicon Valley. The idea was we could solve more problems, more social issues with software. So that’s how Benetech was then born.JOSH ANDERSON: Very nice. I know Benetech does a lock all over the world, and we will get into those. But what are Benetech’s goals, the core that keeps it running?BETSY BEAUMON: I always like to start more with the vision side of it.JOSH ANDERSON: Okay.BETSY BEAUMON: We’ve been honing how we talk about that, and that’s partly based on the work we are doing and based on why is it important. I think a lot of us, especially as engineer types, spent a lot of time talking about data and numbers and what we are working on and the cool tech underneath it. But what is most important is why we are doing this. We are doing this because we believe in a feature that empowers inclusion and equality. So if you are not included or you are not treated equally, that’s really a problem. and anybody deserve to read and learn; everyone deserves a shelter, food, and care; everyone deserves for his or her voice to be heard; and every victim of human rights abuses deserves justice. Those things underline the work that we do, and the actual goals come out of that. We are actually working in a number of issue areas that had all those things, they are all connected by inclusion and quality. I realized when I said that earlier, it might’ve sounded like inequality. It’s “and” equality.Some of our goals are around things like book share, so providing access to education, learning, employment, pleasure reading, and really being a connector between the publishing industry, who we work with extensively, and students, teachers, parents, adults, etc. We are also really looking at goals around information on services. So we will talk about more of our new stuff, but includes something called service net, that’s really around how can we better help connect social service providers and referral agency to the actual people that need their services.We also do a lot and the human rights areas. That’s been one of the things that, for as long as book share has been around – which is 2002. Might around that time, around 2003, Benetech also started the human rights program. So for many years, our goals have been how do we protect human rights defenders and help them do their work better and make sure that they and the beneficiary is they are trying to help all stay safe. I think it’s a lot easier for people to visualize that now than it was maybe for some people 15 years ago because a lot of those issues where data wasn’t secure seemed really far away. We often did work with people very far away in really dangerous countries. Now we are really evolving that and looking at things like how can we help people with disabilities actually achieve more of their rights. The UN convention on the rights of persons with disabilities has been around for 11 years, I think, and it’s really a big driver. But there are lots of rights that people are supposed to be getting in countries all of the world that, when you actually talk to people with disabilities, they say, well, I’m not actually quite getting access to education, or I’m supposed to be getting into transit with my wheelchair, and in fact the transit system isn’t ever or isn’t always accessible to me. So there are lots of issues that come up that we really want to work on more in the human rights space.JOSH ANDERSON: Very nice. How are you working to achieve those goals?BETSY BEAUMON: The way we work is we are a software organization. As I often tell people, we are like a software startup, except that everything we do isn’t about making money. Everything we do is about impact. Our goals over the next five years are to impact tens of millions of people. We are well on the way to that. The way we do all that impact is scale. To skilled things, software, technology is one of those tools. We are not the techie people that think that tech instantly solves all social ills. One of the ways we really do that is through community. That doesn’t just mean the community around you in your neighborhood, but it means communities of people. For example, communities of people with print disabilities. Book share started as literally what the name says, book share. It was using a tech platform to enable people with print disabilities who were already scanning books so that they could read them through their computers. It was saying, you know, it’s actually legal, if we do this right, to share those books so that one person’s scan can serve many instead of, as was happening, thousands of people running out and scanning the next Harry Potter book or whatever was coming out at the time. Now we are at the point where we get most of our books from the publishers. We’ve now not only brought in the community of people with print disabilities themselves who really built a book share, but also publishers who are continuing to build book share because we have agreements with over 850 publishers to give us their books. That’s one example of connecting communities in order to provide access to information.Service net, that I mentioned, is another new kind of one of those where there are lots of groups out there that actually have data, databases that talk about what are the human services in the area. The problem is there are a whole bunch of them, and they don’t actually connect to each other. If you go to one, you might hear about that really interesting food bank down the street that serves you. If you go to the other one, they might not have that listing. Now there is a hole in the social safety net that we are sending someone off on a wild goose chase for either service they are not qualified for, services that are closed. Service net is a way we are working with the community and saying we can connect the data you have together so that the social safety net is stronger. Whether the community are individuals like book share, or whether it is other organizations, nonprofits, community groups, government, we really believe that connecting communities and access to information are two of the big underpinnings of inclusion.JOSH ANDERSON: It sounds like you’re giving people not just the tools but the power to work together. That’s very important. In looking through about you, I found something called Born Accessible. Can you tell me about that?BETSY BEAUMON: I can. I’m very proud to have that term associated with me. I was in a lot of publisher meetings back in the day when I was running book share. At one point, they started talking about all of their content should be “born digital” or “now’s the time,” things are going to be made e-books first and maybe they’ll get printed. They could do all kinds of new things because they would be fully e-books and fully electronic. I sort of sat there and said, goodness, what we do in book share and take things on paper — it’s hard to make that accessible — and turn it electronic so that it can be made accessible. So I started this mantra anything born digital really should be born accessible. You could look at that as kind of a stick that there are no actresses anymore for not to be accessible, or you could also look at it the way we tried to work it, which is a carrot. We can talk to the same publishers that we have built great relationship with, and in fact others who might not be so thrilled about giving the book to book share, but say, yeah, if I can sell books are more accessible, then I’ll do that. So we are actually working with lots of publishers now, and we’ve worked with the Daisy Consortium, which is the global group of libraries for people with print disabilities who are meeting, and basically saying let’s do a lot of work to pull these things together.George Kircher, who I have to give a shout out to because he’s done great work as sort of the person, who was not only at the time Secretary-General of the Daisy Consortium, but became the president of the IDPF, the International Digital Publishing Forum. I know people get bored about talk about techie things like standards, but that was critical. You meant that the same standard that e-book producers use commercially now has accessibility built in. That was an underpinning that made it possible, but now we are actually certified publishers’ books to say it meets a Daisy indicated baseline, so it is a global baseline, that we can certify and say as a third-party, these things me that accessibility baseline. That’s exciting when you start to say, okay, now let’s take the other side of it. Let’s go to school, and we have something called Buy Accessible, where a school is encouraged and knows what to ask for when it comes to accessibility. Now there are some tools that people who buy books for schools, colleges, etc. can say, what are the things that make a book accessible? I don’t even have to know all that. I just know to look for the seal of approval. It’s early days for this on the certification side, but it’s really encouraging that it’s starting to take wind.I would say the biggest point about born accessible that I probably should’ve started with his book share shouldn’t have to be the primary supplier of accessible books, especially not for students in schools. People should be able to buy accessible books. I’m a big believer in libraries, so I definitely think it’s great to have an accessible library like book share. But it shouldn’t be the only way people can get an accessible book. The good news is there are other ways now. There are more people using Audible and other services that help make books accessible. But that’s not for your tenth grade sociology textbook. So we’ve got to make this better, and we’ve got to make more books just born accessible from the start.JOSH ANDERSON: I think I see that more these days where people are finally starting to think, hey, how do we make this accessible at the beginning as opposed to making it an afterthought, which usually makes it twice as hard and especially harder for people with disabilities.BETSY BEAUMON: And makes it twice as hard and makes it expensive. As software people who do with either digital content or software itself, if you don’t build some of this stuff and from the beginning, it’s not happening. In fact, one of the things I said when we first kicked off some of this work on board accessible was there is a window right now where publishers — and that start to extend into other related fields in this digital, connected space we are in now. There is a window where they are going to redo their processes and redo the way that they create books because they are going to be born digital. But that window closes at some point. They’ll always make some updates, but we’ve got to get in now while this whole industry is shifting. I’m very proud that we’ve jumped into that.And our diagram center — and a lot of people don’t know about diagram that know about book share. The diagram center is also funded by the US department of education, the office of special education programs that funds book share and born accessible. Diagrams is an R&D center that works on all those standards and tools and trainings. We’ve trained many publishers, academics, assistive technology folks on things like how do you do a good image description. So we’ve tried really hard to provide the tools and all those carrots that help make this future happen. Instead of saying do it, we are trying to help do it.JOSH ANDERSON: You may have already answered this couple what are you most excited about in this new position?BETSY BEAUMON: There is a lot I’m excited about. First I have to say I’m very honored. It’s always daunting a little bit to take over, especially as a CEO of an organization. It’s particularly an honor to take over from a founder. It is a little bit like someone handing you their child — I can’t really say it’s a baby anymore because it has grown. I feel a great sense of responsibility to the people we serve. I feel a great sense of responsibility to our staff, our volunteers, our board, our partners. So there is definitely a sense of honor and responsibility and a huge sense of excitement.I’m excited to really see out this book share going more global when we are not only the biggest accessible library in the world, we are really the only one that is explicitly global. Most of the other groups we work with our national or regional. We have over 30 languages now and going crazy adding more and working with making sure that we have free library services. So I’m very excited about that. I’m also really excited about some of the new still we are working on.One of the things we started four years ago as I became president of the Benetech was Benetech labs. Benetech has always done innovation, and that’s a big part of what we are about. We do innovation everywhere. But Benetech labs was really instantiating that sense of innovation and putting in place an actual group to go on top of the mechanisms we already had and the sort of checklist — we had checklists like venture capitalists have checklists about new ventures, but hours are all about impact. We look at lots of criteria. Now we have Benetech labs. We took a real gamble and said we are going to look at some new areas in Benetech labs. Some of those are really starting to look super interesting and coming to the fore. I’ve mentioned a number of them, but I’m really excited about this and impact we can have, and frankly, having more impact on the people that we’ve already been serving with book share. Our work trying to amplify the voices of people with disabilities, we are calling data for inclusion. It’s really taking that 15 plus years of human rights work and data around human rights abuses and stories. How can we amplify stories of people with disabilities that you don’t always hear about? This is all over the world. This is absolutely in the US where, as many of your listeners know, it is still not some kind of easy haul. But it’s also in places where the situation is far more dire in Africa and Asia. There are some real issues that people with disabilities face. We can help fix those because, in the human rights world, you learn that one of the ways you do that is amplifying the real voices out there as well as working with international organizations and local groups who are working on the costs. Just like we are empowering those social service referral agencies, we can also help empower disabled persons organizations and small NGOs all over the world that work with people with disabilities to say, you know what? We can help you work together with data and really amplify some of the so that it can impact the discussions around CRPD.JOSH ANDERSON: If our listeners want to find out more about Benetech, how would they do that?BETSY BEAUMON: They do that by going to Benetech.org. That’s B-E-N-E-T-E-C-H dot org. all of our work is listed there. The new stuff I’ve been talking about is all listed, either under innovation spotlights, under our work, or I would absolutely recommend checking out the block and signing up to get updates from the Benetech blog, because we are often blocking about all of these issues that are really important and that all tie together.JOSH ANDERSON: I’m excited to see the things that you do at Benetech. Seeing that kind of excitement and joy in someone taking over a new position is always a really great thing. I can’t thank you enough for taking time out of your day to come and talk to us.BETSY BEAUMON: Thank you very much. I encourage anyone out there who is interested in Benetech to check us out. There are lots of ways to connect with us as volunteers, just giving us a shot out occasionally on Facebook or twitter, or frankly just telling us where we can do better. Thanks very much and I hope to talk to all of you soon.JOSH ANDERSON: Maybe we will have you on the show in a year or so and see however things going.BETSY BEAUMON: I’d love it.JOSH ANDERSON: Perfect. Have a great day.BETSY BEAUMON: Thanks.BRIAN ANDERSON: Do you have a question about assistive technology? Do you have a suggestion for someone we should interview on Assistive Technology Update? If you do, call our listener line at 317-721-7124, shoot us a note on Twitter @INDATAProject, or check us out on Facebook. Are you looking for a transcript or show notes? Head on over to our website at www.EasterSealsTech.com. Assistive Technology Update is a proud member of the Accessibility Channel. For more shows like this, plus so much more, head over to AccessibilityChannel.com. The opinions expressed by our guests are their own and may or may not reflect those of the INDATA Project, Easter Seals Crossroads, or any of our supporting partners. That was your Assistance Technology Update. I’m Josh Anderson with the INDATA Project at Easter Seals Crossroads in Indiana. Thank you for listening, and we’ll see you next time.***Transcript provided by TJ Cortopassi. For requests and inquiries, contact email@example.com***Share this…TwitterFacebookPinterestLinkedInEmailPrint RelatedATU054 – Fishing Has No Boundaries, FreeSpeech for iPad, Goodbye Slater Software, Ablegamers Covers E3, The Skoog, The Leap, Benetech DIAGRAM, Pre-Paid iPhonesJune 8, 2012In “Assistive Technology Update”ATU394 – Noah Callan, Founder and CEO of Disability TekDecember 14, 2018In “Assistive Technology Update”ATU097 – WeCo and Web Accessibility, Bebionic 3 Prosthetic arm, Vibrating Watches, #appFriday, Tap Tap See reviewed by AppleVisApril 5, 2013In “Assistive Technology Update” Podcast: Play in new window | DownloadYour weekly dose of information that keeps you up to date on the latest developments in the field of technology designed to assist people with disabilities and special needs.Show Notes:Betsy Beaumon, CEO of Benetechwebsite: https://benetech.org/Press Release About CEO Transition: https://benetech.org/news/press/benetech-appoints-betsy-beaumon-as-new-ceo/Benetech Twitter: @benetechBetsy Twitter: @betsybeaumonFacebook: https://www.facebook.com/benetech.orgLinkedin: https://www.linkedin.com/company/benetech/——————————If you have an AT question, leave us a voice mail at: 317-721-7124 or email firstname.lastname@example.orgCheck out our web site: https://www.eastersealstech.comFollow us on Twitter: @INDATAprojectLike us on Facebook: www.Facebook.com/INDATA—————– Transcript Starts Here ——————-BETSY BEAUMON: Hello, this is Betty Beaumon, and I’m the CEO of Benetech, and this is your Assistive Technology Update.JOSH ANDERSON: Hello, and welcome to your Assistive Technology Update, a weekly dose of information that keeps you up-to-date on the latest developments in the field of technology designed to assist individuals with disabilities and special needs. I’m your host, Josh Anderson, with the INDATA Project at Easter Seals Crossroads in beautiful Indianapolis, Indiana. Welcome to episode 390 of Assistive Technology Update. It’s scheduled to be released on November 16, 2018.On today show, we are very excited to have Betsy Beaumon, the new CEO of Benetech, on the show to talk about Benetech, what they do, some think they have in the works, and some of the excitement she has for taking over the reins of such an amazing organization.We are also very excited that next week is coming up our holiday episode. If you’ve never this into our holiday episode, we usually try to have that come out on black Friday. What we do is we have a rundown of some different assistive technology and other technology devices that are out there for the holidays. Kind of think of it as a gift giving guide, or maybe a gift getting guide. Who knows? But we try to have a little bit of fun with it, talk about the holidays. I’m very excited. We will have Brian Norton, who is very popular host of our sister show, Assistive Technology Frequently Asked Questions. We will have Nikol Prieto who has been on the holiday episode since it started. She is a big Halloween fan, but we get her out in the holiday mood in order to record that show. And the return of Wade Wingler. That’s right, the person who hosted this show for many a year before handing the reins over to me will be back to talk about some of his favorite gadgets and things and be able to sit in the interview chair as opposed to the interviewer chair. So we are very excited to have those folks on.Make sure to check that out next week, but let’s go ahead and get on with the interview for today.
“Having Someone Else Grade Your Homework” Ensures Brands Get What They Pay ForMedia.net, a contextual advertising and publisher solutions company, emerging as a leader in programmatic, and Amino Payments, the premiere transparency and supply path optimization company for digital advertisers, announced a partnership to provide detailed visibility into how much of a buyer’s budget results in true working media through the Media.net Marketplace. This marks one of the first and largest adoptions of third party audit—on the exchange side—to ensure transparency across the supply chain for advertising buyers.Media.net’s Marketplace, a next-generation programmatic exchange, welcomes such radical transparency because it has been providing buyers with the highest levels of working media efficiency since its launch over two years ago. Media.net built this ad exchange because it saw an opportunity to provide a platform for buyers and sellers to execute transactions that was free from exorbitant fees, questionable auction practices and fraudulent inventory. Media.net’s dedication to direct publisher relationships, the elimination of fraud and enhancements of bid requests such as page-level contextual data has driven superior results for both buyers and publishers. This partnership will help shine light on that and further accelerate growth.Marketing Technology News: Mobiquity’s AdCop Finds Ad Fraud Lurking Below the FloorVaibhav Arya, CEO of Media.net, said, “We are proud to announce our partnership with Amino Payments. They are establishing a leadership position in third party supply chain transparency and supply path optimization. We’re excited to roll out their solution at scale—and continue to lead the industry in measured, real and clear advertising campaigns for brands and monetization solutions for publishers. Media.net has been and will continue to show advertisers and agencies how their money is being spent, but a third party measurement such as Amino’s Lense product ensures unbiased accountability for all parties.”“Amino Payments is thrilled to partner with Media.net as they continue to evolve their successful programmatic business,” remarked Will Luttrell, CEO of Amino Payments. “Advertisers are making transparency a priority. As they shift their media dollars towards transparent sources, Media.net Marketplace will inevitably solidify its reputation as a cost-efficient and effective source of inventory.”Amino Payments believes that when a brand puts money into digital advertising, they should be able to see how their media dollars are spent. With Amino, advertisers are able to follow the entire path of every impression as each partner cryptographically signs its part of the transaction, creating an authenticated ledger that balances in real-time. As an early adopter of Amino’s transparency-enabling technology, Media.net will be able to leverage Amino’s real-time data functionality to deliver granular and actionable insights and optimizations to both their buyers and publishers.Marketing Technology News: Internet Grows to 351.8 Million Domain Name Registrations in the First Quarter of 2019Advertisers buying through Media.net on Amino-enabled campaigns will be able to see:Buyer’s clearing price for each impressionPublisher’s clearing price for each impressionDomain name of where the ad was servedActual cost of unviewable or brand unsafe impressionsAuction typeCreative media typePlatform typeBy allowing an independent, third-party continuous audit of media spend, Media.net is taking transparency much further than simply providing log files and personal assurances. They are ensuring complete clarity and confidence for all buyers on their platform.Marketing Technology News: Lionbridge Launches Lionbridge AI, Extends Leadership Position in AI Data Training Services Media.net Partners with Amino Payments to Offer Third Party Supply Chain Transparency for All Media.net Marketplace Transactions MTS Staff WriterJune 4, 2019, 9:32 pmJune 4, 2019 advertising buyersContextual AdvertisingMarketing Technology NewsMedia.netNewsVaibhav Arya Previous ArticleNuxeo Insight Cloud Delivers the Next Generation of Enterprise AI and Intelligent Content ServicesNext ArticleCatalina And Samba TV Partner To Significantly Transform Media And Measurement Landscape
Sabio, the media and technology company behind App Science, a proprietary machine learning platform that pairs observations of consumer behavior to corresponding data that inform marketing decisions, announced it was recognized as the Pollie Awards Best Use of Mobile Technology category winner for the third year in a row.The Pollie Awards recognize the leaders, innovators and exceptional work within the political communications and public affairs industries.Commenting on the win, Joe Camacho, CMO of Sabio stated, “We are thrilled to be recognized for our public affairs industry work by this prestigious award. These award wins further validates the capabilities of our App Science technology to consistently deliver the campaign winning support that political candidates need.”App Science® can be used to target and deliver custom ads with unique technological features that resonate with today’s voters and uses Artificial Intelligence to find the right voters and target them at the right moment with the latest creative capabilities.Marketing Technology News: Volly Launches Point-of-Sale Mobile App and Rebrands CRM Mobile AppFor a Republican Congressional campaign, Sabio used its proprietary App Science technology to target registered Republicans, analyze the mobile behaviors of those voters such as the types of apps they use, to identify center-right leaning registered Independents and Democrats that can potentially swing a tight election. Sabio also incorporated animation and a mobile devices touch and gyroscopic technology to create custom ads that included an election day reminder feature that added the date to their phone’s calendar.The main goal was to reach the candidate’s most likely voters with a compelling ad that utilized the latest technologies to identify, target, persuade, and remind them about the upcoming midterm election and to get them to the polls with compelling and cost efficient media. By utilizing its proprietary App Science technology in combination with innovative custom ads that resonated with voters, Sabio helped the campaign reach more voters with fewer dollars and contributed to the nominee’s win.Marketing Technology News: PipelineDeals Launches the Women in Tech ScholarshipThe Pollie Awards and Conference is hosted by the American Association of Political Consultants and is one of the most prized and sought-after awards in the political communications and public affairs industries. The conference and awards ceremony was held in Napa, California in early April.Marketing Technology News: Oracle Moat to Measure Viewability for Samsung Ads App ScienceMarketing Technologymobile technologyNewsSabioTechnology Previous ArticleDoubleVerify Global Study: Brand Safety Incidents on Mobile Apps Increase Three-Fold, as Ad Budgets Shift to MobileNext ArticleBeeswax Appoints Matt Clark as its First Vice President of Partnerships For the Third Year in a Row, Sabio Takes Top Honor in Best Use of Mobile Technology Category at the Pollie Awards PRNewswireJune 14, 2019, 5:38 pmJune 14, 2019
IBM Launches New Services to Advance Enterprise Transformations with SAP S/4HANA PRNewswireMay 7, 2019, 3:54 pmJuly 16, 2019 Global forestry giant ARAUCO among the first to benefit from IBM Rapid Move for SAP S/4HANAIBM introduced IBM Rapid Move for SAP S/4HANA, a new approach designed to provide a smarter and faster way to digital transformations. Businesses across industries can look to accelerate the process of migrating existing SAP systems to SAP S/4HANA, enabling them to speed up the reinvention of core business processes and integration of new technology.Arauco, a manufacturer of sustainable forest product solutions in Chile, is one of the first companies to benefit from the new capabilities. IBM Services is working to upgrade and transform Arauco’s existing SAP systems across the company’s financial, procurement and production activities. By deploying IBM Rapid Move for SAP S/4HANA, Arauco anticipates achieving a reduction in time of up to 50% for certain activities during the project based on their specific environment and configurations, such as unicode conversion, generating significant time savings for the overall project.“As we prepare for future growth, we needed to implement a digital platform that will streamline our processes through business transformation, including converting our existing SAP systems to SAP S/4HANA. Speed of deployment has been key to ensuring we experience the benefits of digital technology faster,” said Leandro San Miguel, CIO Arauco. “The IBM Rapid Move for SAP S/4HANA approach can help accelerate our modernization of processes, allowing us to deploy an integrated and consolidated financial reporting system across the business with SAP S/4HANA.”Marketing Technology News: Tray.io Raises $37 Million Series B Funding to Usher in the Era of The Automated EnterpriseCompanies in every industry are reinventing their processes and operations with digital strategies enabled by new technologies, such as AI, automation and blockchain. SAP S/4HANA allows companies to simplify complex business processes while upgrading their technology infrastructure and enterprise systems resulting in greater efficiency and improved business outcomes.“Businesses working to transform themselves amid ongoing market disruption must consider how to convert and extend their existing investments, while at the same time capitalizing on the digital reinvention imperative,” said Mark Foster, Senior Vice President, IBM Global Business Services and IBM Services. “With IBM Rapid Move for SAP S/4HANA, we’ve introduced an approach that helps simplify migration, enabling our clients to safely and securely move to the future at pace.”Since forming the Digital Transformation partnership three years ago, IBM Services and SAP have worked together to provide services and capabilities that help accelerate how customers around the world modernize their systems and processes on their path to becoming an intelligent enterprise. The two companies continue to deliver new solutions that address rapidly changing market needs, including SAP Model Company services combined with enhanced industry specific pre-configured IBM Impact accelerators, which are designed to simplify the change process, speed-up innovation enabled by SAP S/4HANA and unlock business benefits faster. As announced late last year, IBM Services completed more than 100 SAP S/4HANA implementations.Our Resources: How IBM’s Enterprise Asset Management (EAM) Products Can Benefit Your Asset Support RequirementsIBM Rapid Move for SAP S/4HANA, complete with integrated delivery framework from SAP, including the SAP Value Assurance program and SAP Model Company service, helps accelerate migration to the SAP S/4HANA platform with minimal risk. This agile transformation approach offers more design and build flexibility that can deliver an enhanced user experience and automated business processes. By taking advantage of IBM Rapid Move, businesses can also leverage and transform existing SAP investments without the need to fully redesign their legacy systems.Marketing Technology News: eSentire Report: Volume of UK Cyber Attacks Increased by Over 140 Percent in 2018“The partnership between SAP and IBM continues to grow. With IBM Rapid Move for SAP S/4HANA, IBM is delivering an innovative way to give customers a major head start on their digital transformation projects and provide their clients with the ability to realize value from their deployments with even greater speed and agility,” said Michael Kleinemeier, member of the Executive Board and head of the SAP Digital Business Services organization, SAP SE.IBM Services teamed up with transformation software company SNP to create a highly automated migration that combines the SAP management and technical expertise of the two companies. IBM Rapid Move for SAP S/4HANA incorporates a hybrid transition approach to target process redesign and standardization, only where it is needed. IBM has embedded automation into the process leveraging “digital workers” that execute SAP S/4HANA configuration, code remediation and data reconciliation to reduce the complexity of implementation.“Almost every company deals with SAP S/4HANA and wants to tap into the opportunities of digital transformation,” says Dr. Andreas Schneider-Neureither, CEO SNP. “Working with IBM Services, we can now offer a simpler and faster way to take advantage of SAP S/4HANA. With the rapid adoption of SAP S/4HANA, companies accelerate their digital transformation and take advantage of the platform earlier than with traditional methods. This includes improving performance in complex and time-critical business processes such as real-time planning, execution, reporting, analytics and forecasting based on live data, as well as a personalized and simplified user experience across all business units, tasks and devices.”Marketing Technology News: Dell Technologies Cloud Accelerates Customers’ Multi-Cloud Journey Advance Enterprise TransformationsAIIBMIBM RapidMarketing TechnologyNewsSAP S/4HANA Previous ArticleEZ Texting Appoints Former Intuit and Evernote Executive Norman Happ as CEONext ArticleOnline Advertising – How to Make It 100% Effective?
Arndt Grothin app advertisingMarketing Technology NewsNewsSmaato Previous ArticleClickDimensions Announces 2019 Top-Performing Partner AwardsNext ArticleIntroducing Sage Plus for Experts Groth to Lead Accelerated Global Expansion and Technical InnovationSmaato announced that Arndt Groth will be promoted to Chief Executive Officer (CEO) of Smaato, Inc. He will be succeeding Ragnar Kruse, who founded Smaato in 2005 together with Co-Founder Petra Vorsteher and has led the company since inception. Mr. Kruse and Ms. Vorsteher are moving on by starting a new company. Arndt Groth has served as President of Smaato for the past year and a half and will assume his new role as of today. He will report to the Supervisory Board of Smaato Inc.“We are very proud to have made Smaato one of the leading mobile companies in the world and we look forward to working together with Smaato in the future as partners of our new venture,” said Smaato founders Ragnar Kruse and Petra Vorsteher in a joint statement.Marketing Technology News: Zeta Global and PlaceIQ Announce Strategic Partnership to Enhance the Zeta Data Cloud“We would like to extend our gratitude to Ragnar and Petra and wish them well in their future endeavors. During their 15 years of leadership they have shown a tremendous track record and true entrepreneurial vision,” said Shen Wei, representative of the shareholders. “We are very glad that Arndt Groth is taking the CEO role within Smaato. He has been in the digital industry for more than 20 years, has demonstrated successful strategic change in the past and is an experienced and strong leader,” said Mr. Shen Wei.Groth was most recently the CEO of PubliGroupe AG in Lausanne, Switzerland, which was acquired by Swisscom AG. His previous roles include International Vice President, Northern Europe, for DoubleClick (Google) and CEO of InteractiveMedia CCSP AG, a subsidiary of T-Online International AG, one of Europe’s largest online marketers, and President Europe of Adconion Media Group. For 10 years, Groth was also President of the BVDW (Bundesverband Digitale Wirtschaft e.V.), Germany’s leading digital marketing association.Marketing Technology News: Beanstalk Digital Launches Beanstalk Predictive to Provide Robust Data Analytics Through AI-Driven Insights“I cannot think of a more exciting time to take the leadership of Smaato,” said Arndt Groth, CEO at Smaato. “Mobile marketing is the media channel of the future, and China is already the largest economy globally based on purchasing power. With our Chinese shareholders, Smaato is ideally and uniquely positioned to expand quickly in the fast-growing mobile media market in Asia, and particularly in China.”Marketing Technology News: JotForm Reaches 5 Millionth User After Major Launch Arndt Groth Named New CEO of Smaato MTS Staff WriterJuly 15, 2019, 9:20 pmJuly 15, 2019
free shipping performloyal customer baseMarketing TechnologyMichael IaccarinoNewsRetail ShopperYes Marketing Previous ArticleFinding the Whale and Other Ways Big Brands Can Learn from Start-UpsNext ArticleSecureAuth Innovates Secure Identity Management with its Intelligent Identity Cloud Service Data: Over Half of Consumers Will Pay More to Buy from a Retailer They’re Loyal to PRNewswireJune 5, 2019, 2:02 pmJune 5, 2019 Yes Marketing Finds Most People Rank Value/Quality of Products as Their Top Driver for Loyalty to Retailers Over half of consumers say they will pay more to buy from a retailer they’re loyal to, indicating a significant opportunity for brands to drive long-term revenue from their loyal customer base, according to a new study by Yes Marketing.In “The Retail Shopper’s Journey to Loyalty” report, Yes Marketing surveyed over 1,000 retail shoppers to identify their priorities and motivations as they move along the customer journey, from initial interaction with a brand to brand loyalty. The report revealed that 41% of consumers rank product quality/value of products as the top reason they’re loyal to a retailer while 35% rank price highest.The findings indicate that elements like free shipping perform well in driving purchases with new customers but are less influential for long-term loyalty. In fact, only 3% of shoppers ranked free or expedited shipping as the top driver of loyalty. On the other hand, 40% of consumers ranked it as the top convenience factor they consider before making a purchase with a new retailer.Marketing Technology News: How to Solve Latin America’s E-Commerce ProblemMarketers can leverage these findings to prioritize the benefits they communicate to customers at different points in their journey.“The seamless and personalized consumer experience, which is a critical component of loyalty, has become table stakes,” said Jim Sturm, president of Yes Marketing. “It takes so much more to deliver on the different expectations customers have for retailers at each stage of their journey. Smart brands must differentiate between effective acquisition tactics and effective loyalty strategies. This distinction can help brands increase lifetime customer value and create truly successful lifecycle programs.”In terms of rewards, the report found that cash is king with 39% of consumers reporting that cash incentives make them feel most rewarded for their loyalty, followed by early access to products (23%) and exclusive promotions (18%).Marketing Technology News: Nielsen Launches Global Measurement For YouTube Mobile App“With the continuous evolution of the retail sector, retailers must build strong customer relationships to create lifetime loyalty and drive revenue,” said Michael Iaccarino, CEO and chairman of Infogroup, parent company of Yes Marketing. “Given the significant impact customer loyalty has on business results, retailers need to find a service and technology partner who can enhance and execute their marketing strategies to adapt to changing consumer expectations.”Marketing Technology News: Credorax Launches Smart 3D Secure Solution in Partnership With Netcetera
Experian Appoints Shri Santhanam as Executive Vice President and General Manager of Global Analytics and AI PRNewswireJune 19, 2019, 10:00 pmJune 19, 2019 AIanalyticsDigital TransformationExperianMarketing TechnologyNewsShri SanthanamSteve Wagner Previous ArticleLattice Engines Ranked a Leader in B2B Customer Data Platform Report by Independent Research FirmNext ArticleCardinal Path’s 2019 State of Marketing Technology Report Highlights Consolidation & Disruption Santhanam will lead Experian in helping clients succeed using ML, AI and advanced analyticsExperian announced that Shri Santhanam will join the company as executive vice president and general manager of global analytics and AI. In this new position, Santhanam will help the already successful global decision analytics business advance forward by taking full advantage of the opportunities of big data analytics. Santhanam also will chair Experian’s global analytics council, working closely with the regions to shape and drive the overall analytics and AI agenda.Marketing Technology News: Study: Consumers Reject Brands That Advertise on ‘Fake News’ and Objectionable Content Online“Businesses of all sizes are challenged to access, interpret and act on data to create value and benefit consumers,” said Steve Wagner, global managing director of Decision Analytics for Experian. “Our clients are increasingly interested in leveraging the predictive power of machine learning, artificial intelligence and advanced analytics to improve the decisions they make. We are pleased to have Shri lead us further on this journey.”Most recently, Santhanam was a partner at the international management consulting firm Oliver Wyman. There he co-founded Oliver Wyman Labs, which helps clients use data, technology and advanced analytics to drive transformative business impact. Santhanam has worked with clients across various industries to build products and solutions using AI and advanced analytics.Marketing Technology News: Triton Digital Integrates Centro’s Basis Platform with the a2x Programmatic Marketplace“There are so many areas where businesses can use data and analytics in more meaningful ways, and I’m thrilled to work with the Experian team to help enterprises across the globe in driving better, faster and smarter decisions,” said Santhanam. “AI is poised to have a transformative impact on many industries and is rapidly changing the way we do business. This represents a significant opportunity for companies with the assets and mindset to go after it.”Experian recently worked with Forrester Consulting to survey senior executives and decision-makers about how they tackle the challenges and opportunities surrounding digital transformation. According to the report, 81 percent of executives believe traditional business models will disappear over the next five years due to digital transformation.Marketing Technology News: Mindtree to Showcase Contextual, Real-Time Solutions for Personalized Traveler Experiences at HITEC Minneapolis
oppooppo indiaoppo k3oppo k3 camera First Published: July 19, 2019, 12:18 PM IST Oppo is bringing a new mid-range handset to India today. The new Oppo K3 will be launched at an event in New Delhi at 6PM and would be available from Amazon India. The handset was launched in China back in May and features a full-screen AMOLED display, a pop-up selfie camera, and an in-display fingerprint scanner. The Oppo K3 features a 6.5-inch Full-HD+ (2340×1080 pixels) AMOLED display with 19.5:9 aspect ratio. It is powered by a Snapdragon 710 SoC, similar to the Realme 3 Pro and Realme X. There is also up to 8GB of RAM and 256GB of internal storage. In the camera department, you get a 16-megapixel pop-up selfie camera while at the back there is a dual-camera setup with a 16-megapixel and a 2-megapixel depth sensor. The phone also features a 3,765mAh battery along with support for Oppo’s VOOC 3.0 fast charging technology. Oppo also claims that the in-display fingerprint sensor is backed by projection technology which promises fast unlock speed. As for the cost, we are expecting it to be similar to the Chinese pricing. The handset is priced at CNY 1,599 (Rs 16,000 approx) for the 6GB RAM + 64GB storage variant. The 6GB RAM + 128GB storage variant on the other hand is priced at CNY 1,899 (Rs 19,000 approx) while the top-end 8GB RAM + 256GB storage variant costs CNY 2,299 (Rs 23,000).
Amartya SenBharatiya Janata PartyBJPdilip ghosh First Published: June 23, 2019, 11:37 PM IST Kolkata: West Bengal BJP president Dilip Ghosh courted controversy on Sunday for describing intellectuals of the state as “cowards and opportunists” and accusing them of being only interested in getting benefits from the government.”The entire state is burning. Opposition leaders and workers are being murdered by TMC goons. But the intellectuals of our society are completely silent as they are apprehensive that they might get into the bad books of the TMC if they protest against them,” Ghosh said. “The intellectuals are basically cowards and opportunists who are only interested in getting benefits from the government of the day,” the Bharatiya Janata Party leader said while addressing a seminar to commemorate the 66th death anniversary of Jana Sangh founder Syama Prasad Mookerjee.The comments from Ghosh, the newly-elected MP from Medinipur constituency of the state, triggered angry reactions from the Trinamool Congress as well as a section of the civil society members.Senior TMC leader Firhad Hakim demanded the Ghosh should immediately apologise for his comments.”This reflects the mindset and attitude of the BJP towards intellectuals in Bengal,” Hakim said. “The party, which doesn’t have any respect towards Bengal’s distinctive culture and history, can only make such comments.”Noted poet Subodh Sarkar, too, criticised Ghosh and said it only reflected his mindset. Time and again, Ghosh has had criticised intellectuals of the state, including Nobel laureate Amartya Sen few years back. But the BJP central leadership has repeatedly tried to reach out to the intellectuals who are considered to wield considerable influence in shaping public opinion of the state.
Amaravati: Keeping the promise he made during the recent assembly elections, Andhra Pradesh Chief Minister Jagan Mohan Reddy has agreed in principle to return lands to farmers who were unwilling to part with it or which the government does not need any longer.The decision was taken during Jagan’s review meeting with Andhra Pradesh Capital Region Development Authority (APCRDA) officials on Wednesday. After the meeting, AP Municipal Minister Botsa Satya Narayan said, “Irregularities were found in allocating plots to farmers who have given their land. The Naidu government gave priority to their close aides while allocating land. We will not continue the works of the Naidu government at any cost. Land will be returned to farmers who were forced to give up their claim,” he said. The previous state government had procured around 34,000 acres of fertile land for construction of Amaravati’s capital city. The land was taken under the Land Pooling Scheme, which was introduced by Naidu government to replace Implementing Existing Land Acquisition Rehabilitation and Resettlement Act, 2013. It was decided that after the capital was constructed, 30 per cent developed land would be returned to farmers and till then, they would get annual compensation.However, the Jagan government has alleged irregularities in the allocation of plots, saying cabinet ministers and their families were favoured. amaravatiAndhra PradeshChandrababu NaiduJagan Mohan Reddy First Published: June 27, 2019, 1:11 PM IST
BJPjp naddauttar pradesh First Published: July 2, 2019, 10:43 AM IST Lucknow: The Working President of Bharatiya Janata Party (BJP) and former Union Minister Jagat Prasad Nadda will be visiting Lucknow on July 5 to take stock of the preparations for the bypolls on 12 assembly seats in Uttar Pradesh. This will be his first visit to the state capital after taking charge as the BJP working president. BJP workers will be giving a grand welcome to their working president. “This will be the first visit of Shri Nadda post taking the charge of working president of the BJP, so we will ensure a grand and warm welcome to him. BJP Working President will be discussing the new membership drive of the BJP that is taking place in the state on July 5. It will be kicked off by PM Narendra Modi in Varanasi on July 6. Issues related to the organization will also be discussed,” BJP spokesperson Rakesh Tripathi said.Nadda, who had played an important role in the 2019 Lok Sabha Polls, was earlier in-charge of the party’s Uttar Pradesh unit. During his visit, he will also be discussing the probables for the new BJP state president. It is also speculated that Nadda will be meeting UP CM Yogi Adityanath to discuss the extension of the UP State Cabinet. Apart from this, the working president of the BJP will also be reviewing the ongoing membership drive meetings in the state as intra-party elections are likely to follow the assembly bypolls.The BJP aims to induct 36 lakh new members in the party in Uttar Pradesh for which meetings have been going on at different levels. JP Nadda, who is known to be well versed with the on-ground situation in the state, said that BJP’s organizational structure will be on his priority. According to the saffron party’s ‘one person one post’ thumb rule, following the elevation of Mahendra Nath Pandey to the Centre, the BJP could get a new state chief before the assembly polls.
congresscrop insurance firmshiv senaVijay Wadettiwar First Published: July 13, 2019, 6:10 PM IST Mumbai: Leader of Opposition in the Maharashtra Legislative Assembly Vijay Wadettiwar Saturday slammed the Shiv Sena for announcing a protest march against crop insurance companies next week. Terming it a “nautanki” (farce) on the eve of the Assembly elections, Wadettiwar said the Sena was trying to play the role of the opposition even as it remains in the BJP-led ruling alliance in the state. “Why does the Shiv Sena want to play the opposition’s role despite being in government? Sena ministers stay mum in cabinet meetings and then talk of organising morchas outside to highlight farmers issues. This is nothing but nautanki,” he said in a statement.Stressing that the ruling party needs to give directives to the official machinery to expedite works of public interest, he added, “Since Shiv Sena has no say in governance and administration, it is organising morchas like opposition parties.””If companies are not expeditiously paying out crop insurance claims, they can be tackled at the government level. But, since the Shiv Sena cannot do that, it is resorting to stunts like protest morchas,” Wadettiwar said.He accused the state government of being hand in glove with insurance companies who he claimed were delaying claims payout.”If the Shiv Sena had concern for farmers, the party would have pulled out of the government,” he said. Sena chief Uddhav Thackeray, earlier this week, had said his party will take out a protest march on July 17 against insurance companies to seek expeditious clearance of farmers’ claims.The protest march, to be held at the Bandra-Kurla Complex (BKC) where offices of several insurance companies are located, will be a warning to these firms to pay the claims of cultivators at the earliest, he had said.”We also demand an independent Agriculture Commission with powers to deal with agriculture-related issues. The commission should be empowered to rectify loopholes in various schemes meant for the agriculture sector, since governments come and go but the official machinery remains the same,” he had said.”If the warning doesn’t work, we will talk to the insurance companies in the language of the Shiv Sena,” he had said.He also demanded that banks publish names of the farmers whose loans were waived under the government’s scheme.
Editors’ Recommendations Sample graphics of the methodology behind Affectiva’s in-car emotion tracking system. AffectivaAs with Affectiva’s original mission, it could additionally make advertising smarter. Right now, companies like Amazon use recommender systems based on the previous products you — and customers like you — purchased. But how about if it was possible to go further and make recommendations based on how you’re feeling? When it comes to spending money, all of us are dictated by our emotions more than we’d necessarily like to think. Emotion-tracking tech that’s able to be there to present the right product at the right time could, quite literally, be worth billions of dollars.Still a way to goAll of the above applications are ones that are currently being explored. There’s still room for improvement, though. “Even among these — some emotions are still tough nuts for detection systems,” Neurodata Lab’s George Pliev said. “We have recently tested the most well-known emotion recognition algorithms, and found that happiness, sadness, and surprise were the easiest emotional facial expressions to detect, while fear, disgust, anger, and a neutral state were the most difficult for A.I. Complex cognitive states, hidden, mixed and fake emotions, among other things, would require analysis and understanding of the context, and this hasn’t yet been achieved.”Multi-modal models, like those described by Affectiva, can help add more data points to the picture. But there’s certainly plenty that emotion tech companies can do in order to showcase that their technology is accurate and free from bias.An example of real-world driver data collected by Affectiva AffectivaThere’s a deeper issue, too: one that involves our fears about technology mining our emotions. It’s the same concern that arises whenever a well-connected insider talks about the way that social networks are designed specifically to promote addictive behaviors on the part of users: giving us a short-lived dopamine rush at the cost of, potentially, longer-term negative impacts. It’s the same concern that arises whenever we hear about Facebook or YouTube algorithms that are predicated on pointing us toward provocative content designed to elicit some kind of emotion, no matter whether it’s “fake news” or not. And it’s the same concern that arises when we think about the anthropomorphization effects of personalizing A.I. assistants like Alexa to encourage us to bring surveillance tools into our own homes.In short, it’s the fear that something irrational and primitive about our animal brain is exploited by brilliant psychologists turning their helpful insights into for-profit code.Will this remain a bit part of the overall user experience, or will using a computer without emotion tracking one day seem unthinkable?Zijderveld said that Affectiva works hard to address these challenges. It champions privacy, with its services all being opt-in by default.“There are just certain markets with certain use-cases to which we will not sell our technology,” she said. “That was true even in the early days. The company at one point got an offer for a $40 million investment from a government agency that was only going to make the funding available if we would develop the technology for surveillance. This was at a time when [Affectiva] was struggling and was worried about being able to make payroll a few months out. Here we had an offer of $40 million on the table, but it was in violation [of what we believed as a company]. The co-founders walked away from it.”The next ubiquitous techEven with the potential risks, it seems that there is enough enthusiasm for emotion-tracking technologies that the field will continue to grow. Along with Affectiva and Neurodata Lab, other startups in this field include the likes of iMotions, RealEyes, and others. The company Neuro-ID was founded based on research from Brigham Young University, suggesting that your mouse movements (!) can reveal your emotion.Major tech giants are starting to muscle in, too. In 2016, Apple acquired Emotient, a San Diego-based company which also developed tech designed to categorize emotion based on facial expressions.While for us the winter is almost over, it is coming to #Westeros. We analyzed the #trailer for @HBO’s #GoT #final #season using #Emotion #AI. And the top-3 emotions are… sadness (70%), anxiety (22%), and anger (3%)! https://t.co/tvflLHmTwW pic.twitter.com/Qht1FuiVPJ— NeuroData Lab (@NeurodataLab) March 7, 2019Late last year, Amazon patented technology intended to let Alexa monitor users’ emotions based on the pitch and volume of their commands. In doing so, the retail leviathan thinks its A.I. assistant will be able to recognize “happiness, joy, anger, sorrow, sadness, fear, disgust, boredom, [or] stress” — and provide “highly targeted audio content, such as audio advertisements or promotions” accordingly.Microsoft has gotten in on the act as well. As has Facebook, and many, many others.With ads to sell, predictions to be made, or just users to be placated and kept happy, there’s plenty of potential upside here. The question is whether this will remain a bit part of the overall user experience, or whether using a computer without emotion tracking will one day seem unthinkable.“This is going to be something that’s ingrained in the fabric of our devices, constantly working in the background,” Zijderveld assured us. “It’ll be similar to geolocation. Today, just about every app is location-aware. That wasn’t the case only 10 years ago. We believe it will be that pervasive. The market opportunity is tremendous.” With the exception of the occasional “Are you happy to continue with installation?” type pop-up message, computers haven’t classically cared much about how we feel.That’s all set to change with the arrival of affective computing, the development of systems and devices that are able to recognize, interpret and respond accordingly to human emotions. With modern artificial intelligence breakthroughs having given us machines with significant IQ, a burgeoning group of researchers and well-funded startups now want to match this with EQ, used to describe a person’s ability to recognize the emotions of those around them.“Today’s A.I. systems have massive amounts of cognitive capability, but there’s no emotional intelligence in these technologies,” Gabi Zijderveld, head of product strategy at Affectiva, told Digital Trends. “Many of our interactions with A.I. systems are currently very transactional, and often superficial and ineffective. That’s because these systems don’t truly understand how we’re reacting to them, and are therefore unable to adapt to how we’re engaging with them. We think that’s a fundamental flaw in technology today.”Welcome to the world of affective computing, a heady blend of psychology and computer science. Based on the idea that something as ephemeral as emotion can be captured and quantified as its own data point, it seeks to create technology that’s able to accurately mine our emotions. In doing so, its proponents claim that it will change the way that we interact with the devices around us; a transformation that, in just a few years, will be as unimaginable to us as using a computer with a graphical interface.Boosters promise a plethora of exciting new applications and interactions. We’ll get computers which truly understand us on an emotional level. As for what’s asked of us in return? Simple: A new level of surveillance that aims to act on our innermost thoughts.All of which leads us to the inevitable question: Exactly how should we feel about machines that know how we feel?Understanding all things human“We’ve developed what we call human perception A.I.,” Zijderveld explained. “It’s technology that can understand all things human. We don’t use any hardware sensors. We’re software only, and that software is designed the human face and voice to understand emotions, expressions, and reactions.”When it comes to affective computing, perhaps no other company is quite so well known as Affectiva. Growing out of MIT’s pioneering Media Lab, the startup was founded a decade ago with the goal of creating emotional measurement technology in a sphere of domains. Since then, the company has gone from strength to strength; riding a way of increasingly connected devices and A.I. firepower. Co-founded by current CEO Rana el Kaliouby and Rosalind Picard, Affectiva now employs more than 50 people. This month, its employees had a party to celebrate its tenth birthday. It also took the opportunity to announce its latest funding boost — $26 million — to join the $34.3 million it has previously raised from eager investors.“By activating the camera in any type of device, we can look at how people react to digital content and measure, frame by frame, what the responses are,” Zijderveld said. “If you do that over a large population, you can get quite meaningful insights into how people are engaging with content. Big brands can then use these insights to optimize advertising, story placement, taglines and so on. Research has shown that this is a very scientific and unbiased way of assessing engagement.”Advertising is just one of the areas that Affectiva has developed technology for. All of these, however, are governed by the same central idea: namely, that machines are much better than people when it comes to recognizing emotion.Emotion tracking all over the worldAs with many pattern recognition tasks, A.I. can be vastly superior compared to humans when it comes to reading the subtle emotions on a person’s face. For example, how much emotion do you think you display when you’re watching TV? In the event of a big game or a satisfying death on Game of Thrones we might expect the answer to be “quite a lot.” But that’s not necessarily the case when, say, you’re half-watching a shampoo commercial or a local news item. It’s here that tools like Affectiva’s can come in handy, by searching for only the tiniest hint of a microexpression that even the subject may not be aware of.People in the States get more expressive when watching something in a group, whereas in Japan they will dampen their emotions.“People are actually quite expressive, although it is nuanced,” Zijderveld continued. “To capture that subtlety, we take a machine learning or deep learning approach. That’s really the only way that you can model for that type of complexity. More traditional heuristic models are just not going to work.”To train its deep learning models, Affectiva has analyzed, to date, 7.8 million faces in 87 countries. This has given it ample training data to develop its models, as well as allowing it to observe some of the differences in how emotions are expressed around the globe.This is, unsurprisingly, complicated. Zijderveld explained that, while the broad strokes of emotions are more or less universal, the way people express them differs tremendously. Intensity of expression differs by culture. So does the way men and women express emotion. Women are typically more expressive than men, although the amount varies depending on geography. In the U.S., women are about 40 percent more expressive than men, whereas in the U.K. men and women are evenly expressive. Emotion differs depending on group size also, and this also differs depending on location. People in the States get more expressive when they are watching something in a group. In Japan, they will dampen their emotions in a group setting.But Affectiva just doesn’t stop at microexpressions. Its technology can also analyze the way that people talk, looking for what Zijderveld calls the “acoustic prosodic” features of speech. This refers to things such as tempo, tone and volume, as opposed to the literal meaning of spoken words.Affectiva CEO Rana el Kaliouby Affectiva“We did this because we wanted to start delivering what are called multi-modal models, meaning models that look at both face and voice,” Zijderveld said. “We believe that the more signals you can analyze, the more accurate you can be with your prediction of a human state.”As more and more data is gathered, from visual information about users to heart rate data to contextual information, it will become easier than ever to build up an accurate image of a person’s emotional state at any one moment.It all starts with DarwinAs with many technological pipe dreams that are only now starting to become feasible, it is easy to assume that the goal of scientific quantification of emotion has not existed for long. In fact, it’s quite the contrary. Efforts to decode the face as a source of information date back at least as far as 1872.“… The task of accurate emotion recognition was made possible by the active development of artificial neural networks.”That was the year in which no less an authority than Charles Darwin published one of his lesser known books, The Expression of the Emotions of Man and Animals. That book detailed the exact minutiae of how emotions manifest themselves through facial contortions — such as kids’ weeping, which involved compression of the eyeballs, contraction of the nose, and raising of the upper lip. Fear, meanwhile, could be spotted through “a death-like pallor,” labored breathing, dilated nostrils, “gasping and convulsive” lip movements, and more.It was a tireless catalog designed, as academic Luke Munn writes in Under Your Skin: The Quest to Operationalize Emotion, “to formalize [a] grammar of muscular movements and gestural combinations.”These efforts were built on by other researchers following on from Darwin. In the 1970s and 80s, Paul Ekman and Wallace Friesen created and developed their Facial Action Coding System (FACS). The basis for much of the subsequent research in this area, these took Darwin’s ideas to a far more empirically precise degree than he could ever have imagined, by literally writing a code in which every tiny movement of the face could be described through so-called “Action Units.” For instance, sadness could be reported as 1+4+15 (Inner Brow Raiser, Brow Lowerer, Lip Corner Depressor.) Happiness, on the other hand, was 6+12 (Cheek Raiser, Lip Corner Puller).The advent of modern computing systems opened up new possibilities these insights to be analyzed. The development of facial recognition technology, for instance, presented researchers with the ability to start encoding these observations into machines.Deep learning networks, which explore the relationship between inputs and outputs, let researchers develop systems which could not only link facial movements with certain emotions, but also seek them out in new subjects. It was here that Affectiva and other rival companies sprang to life.“From a technological point of view, the task of accurate emotion recognition was made possible by the active development of artificial neural networks,” George Pliev, founder and CEO of emotion-tracking company Neurodata Lab, told Digital Trends. “Thanks to them, machines learned to understand emotions on faces turned sideways and in low-light conditions. We got cheaper technology: even our smartphones have built-in neural network technologies [today]. This allows to integrate emotion recognition into service robots, detect emotions using a simple webcam, or to quickly process data in the cloud.”All the better to understand you, my dear!How emotion tracking changes everythingBut as impressive as these technologies are as technological showcases, do they really have fundamentally useful applications? After all, as Zijderveld acknowledged to us, technologies can only catch on if they truly add value to users’ lives. This is surely true as technology becomes more controversial. The more controversial the tech, the bigger the tradeoff we make by using it, and the more value it therefore needs to show to be worth the sacrifice.Affectiva showcases it’s Facial Action Coding System (FACS) analysis of this scene from Interstellar in which Matthew Mcconaughey’s character emotionally reacts to seeing a video message from his family. AffectivaThe field of affective computing is not short of examples of how it could be used, however. Far from it; this is a field brimming with opportunity. Imagine, for instance, that the movie or video game that you’re playing could adjust its intensity based on your emotional responses. Perhaps a survival horror game notices that you’re not sufficiently anxious and cranks up the difficulty and scares to ensure that you are.Or how about the classroom? As students increasingly rely on digital technologies for their schoolwork, a textbook could tell whether they’re struggling with a particular part of the curriculum and either inform the teacher, or automatically adjust how the information is presented to improve clarity.“[We] found that happiness, sadness, and surprise were the easiest emotional facial expressions to detect … “It could have enormous impacts for emotion tracking, too. We live in a world in which Apple Watches possess the necessary heart-reading tech to spot potentially life-threatening conditions like atrial fibrillation. But the way in which mental health data, such as a person’s changing mood over time, is recorded lags a long way behind. Scanning your face for emotional signifiers whenever you look at your phone could help track your mood on a daily basis, every bit as effortlessly as a pedometer measures the number of steps you take.Similar technology will be applied in cars. What if a dash cam watched your every move and made decisions accordingly? That could be something as simple as spotting flushed cheeks on all passengers and deciding to crank up the AC accordingly. It could also be altogether more lifesaving, such as noticing that the driver is distracted or tired and suggesting that they pull over and rest. “In the last few years we’ve seen a tremendous increase in interest from car manufacturers,” Zijderveld continued. “It made us realize that there really is a big opportunity for using this technology for in-cabin sensing.” U.S. Navy is working on making its fleet invisible to computerized surveillance Let’s take a moment to marvel at how incredibly high-tech modern car tires are How Nissan’s ‘invisible-to-visible’ tech could pave the way for autonomous cars Samsung’s new A.I. software makes generating fake videos even easier Photorealistic A.I. tool can fill in gaps in images, including faces
Story TimelineQualcomm’s USB-C DAC could fix your headphone jack sadnessNew Google camera may bring the headphone jack backApple headphones would confirm Beats aren’t enough for everyone This dongle is not strictly unique. In fact companies like Moshi jumped on the trend quick, almost immediately after the first no-headphone-jack smartphones were released. Moshi has a device called “Moshi USB-C to 3.5 mm Adapter/Charger” that’s just as legit as the one Sony’s releasing here. Moshi’s is $45, while Sony’s is around $30.The problem here is the lack of headphone jack – or at least it was a problem until it became a reality with basically every major smartphone on the market today. Instead of a USB port and a headphone jack on every phone, brands have cut down to USB-C alone.That puts a kink in the plans of users who take their smartphone on long car rides regularly. Before, users could connect a power cord to USB and a headphone port to their phone’s headphone jack. Now that’s all messed up. Unless they have a Bluetooth stereo in their vehicle, they’re going to be draining their smartphone’s battery while they run their hardwire audio jack into their phone. The only company that’s gone above and beyond in this situation is Razer. They didn’t include a dongle that allows the phone to charge at the same time, but they DID include a dongle that’s more than just a converter. In our Razer Phone Review you’ll see this USB-C THX DAC Audio Adapter – ramping up the sound rather than simply providing the baseline.The Pixel 2 is one of several devices which have cut the headphone jack, but include a BASIC dongle with their phone to turn USB-C to a standard headphone port connection. Since they’re including a jack in the box in the first place, it really ought to solve the problem they’ve created in the first place, rather than just bridge the gap.What do you think? This week Sony revealed an accessory that SHOULD come with every new smartphone by default. The device is called USB Type-C 2-in-1 Cable EC270, and it’s rather simple. This dongle has a USB-C jack on one side, and both a headphone jack and a USB-C port on the other. Can’t it be when it was all so simple?
Earlier this month, Google sent out invites for its latest “Made by Google” event. Given recent leaks along with the general timing of this event, we’re all expecting Google to debut the Pixel 3 during the show. Today, Google started sharing teasers for the Pixel 3, confirming beyond a shadow of a doubt that it’s going to be the main attraction. There are a total of two teasers that have been published. The first has appeared on the Google Store and simply shows a big “3,” while inviting interested Android users to sign up for more information. When you click the sign up button, an alert tells you that you’ve been subscribed and invites you to check back at the Google Store on October 9, which is the same day as the Made by Google event.So, there’s nothing too crazy going on with that teaser, but things get a little more interesting with the second one, which is actually a Japanese teaser. This one shows what we assume is the back of the Pixel 3, complete with the Google “G” at the bottom center of the device. Clicking that G cycles you through three different color schemes, and it seems safe to assume that these are the colors the Pixel 3 will launch in.The first two colors are pretty standard, being white/gray and black/dark gray, though it’s worth pointing out that the white/gray color scheme features a green accent around the inner border of the device. The third color scheme is green/turquoise with that same green accent we saw in the white/gray one. Confetti also falls from the top of your screen when you land on this color, so it’s clear that Google considers this one to be more fun than the other two.So, there you have it – not only has Google confirmed that the Pixel 3 will indeed be at its October event (something we assumed already), but it has apparently also confirmed the colors the phone will be available in. We’ll see what else surfaces in between now and October 9, so stay tuned. Story TimelinePixel 3 event official: Made by GoogleNokia notch-hiding option removed, foreshadows Pixel 3 XL problemPixel 3 and our desperate need to be surprised and delighted