Wednesday, May 11, 2011

Hypo Venture Capital Zurich Headlines:Up close and personal with Symantec Corp, Mark Bregman

http://hypoventurecapital-headlines.com/?p=16The executive vice-president and chief technology offi cer of Symantec Corp shoulders the challenging responsibilities of guiding investments in advanced research and development.
AS executive vice-president and chief technology officer at Nasdaq-listed Symantec Corp, Mark Bregman shoulders the challenging responsibilities of guiding investments in advanced research and the company’s development centres in India and China.
He is also responsible for the Symantec Research Labs, Symantec Security Response as well as shared and emerging technologies, architecture and standards, localisation and secure coding, and developing the technology strategy for the multinational information technology security vendor, which is ranked 353 on the Fortune 500 list.

Still, had it not been for an impulsive decision to step inside the doors of the IBM Research centre in New York City 27 years ago, Bregman might have found his life calling in the hallowed halls of academia today instead of being at the global forefront of cutting-edge information security, storage and systems management solutions.
A life changing moment
“As a young boy, I never thought about a career in IT (information technology). I always wanted to be a scientist,” recalls the 54-year-old Bregman, who holds a bachelor’s degree in physics from Harvard College and a master’s degree and doctorate in physics from Columbia University.
After completing his doctorate, Bregman harboured ambitions of doing research and becoming a professor at an American university.
At that time, he was working in a laboratory at Columbia University, New York City.
“The laboratory was very close to the IBM Research centre, and I would see it everyday while driving home. So, one day, I thought I should stop there and ask about job opportunities.”
Bregman filled in a job application form, which was obtained from the front desk receptionist, and two weeks later, he received a phone call from the director of the physical sciences department at the IBM Research centre.
“He asked me to join him for lunch the following week. I was thinking I am a graduate student. Free lunch? Are you kidding? I’ll go anywhere for a free lunch,” he quips.
It turned out that his doctorate work in experimental high energy physics had caught the attention of IBM Research.
“At that time, their experiments in measuring the mass of the neutrino was very closely related to my doctorate work.”
IBM Research offered him a salary which Bregman says was “much more than what an assistant professor would get in most universities.”
Still, he had not given up on his dream of being a university professor.
“I was planning on staying with IBM Research for only a few years, and after that, move on to a university.”
However, IBM Research turned out to be a snare that was too fascinating for Bregman to leave for the next 16 years.
“I found so many interesting things happening. You would sit down at the cafeteria and get introduced to people like Robert Dennard he invented dynamic random access memory or RAM. And after some years in research, I realised that some business issues were perhaps more challenging then scientific problems. I also became very interested in the problem of innovation how does a big company like IBM continue to innovate?”
Driving the innovation process
Bregman is mainly driven by coming up with ways to improve the process of turning innovative ideas into successful products.
“Lots of people, engineers and universities have good ideas and inventions but most of them have no impact in the marketplace. This is the challenge for innovation.”

This was among the reasons behind the set-up of the Symantec Incubator division three years ago.
The start-up style Incubator division allows engineers the freedom of working on new projects, outside the company’s traditional product development processes.
Bregman says many ideas from the Incubator division were better than the ones the company paid consultants to provide.
“My role is to look beyond the next product, and help to set the direction for the company’s technology and investments. So I always challenge our engineering teams Look, if these are the trends for the next three to five years, what are we going to do about them?”
He says Symantec has to constantly innovate in helping its customers to secure and manage information.
“We cannot be effective in defending against malicious attacks if we just wait for the next attack. We have to stay ahead of the attackers.”
Being candid and upfront
For Bregman, the story behind his second marriage is a good example of his personal values.
“About eight years ago, I was divorced, and had moved to the San Francisco Bay Area, California. My youngest brother and sister-in-law were often staying in my apartment as they had started a new tech business with clients in the Silicon Valley. One night during dinner, they brought a woman who was their old friend, and she looked me in the eye and told me, “According to your father, I am his next daughter-in-law.” So later, we went out on a few dates and found that we actually liked each other. She is my wife now,” he recalls with a laugh.
Among his core values in business management is openness.
“For example, I am told that certain information is too sensitive to share with other employees. My view is, we should share the information. If the employees violate our trust, they should not be in the company anymore.”
Bregman also believes in promoting employees within the company rather than looking outside to fill vacant positions.
“I have a positive view of human nature. My experience has been, when you set high expectations for people, whether it is trust or performance, most people will rise to your expectations.”
Meanwhile, he does not consider himself to be a workaholic although he puts in between 70 and 80 hours of work a week.
“I get to work by 7.30am and I come home by 7pm. Then again, I also work at home and during half the weekends. So, well, I don’t go sailing very much anymore.”
Life as a global citizen
His work entails plenty of travelling, and Bregman considers himself extremely fortunate to be able to combine one of his passions with work.
He recalls visiting the Asian region 20 times last year.
The only continent he has not visited is Antarctica, he chuckles.
“Having such a global experience is definitely among the highlights in my life. I have colleagues and friends all over the world,” muses Bregman, who lived in England for five years as a young boy.
“When I was eight years old, my family moved to London because my father, who was in the advertising business, got a job there. So I was an English schoolboy, and wore short pants, a tie and knee socks, and played rugby, cricket and soccer. Also, I spent a year working at a laboratory in Geneva, Switzerland as a graduate student. And when I was with IBM, I ran a semiconductor plant in Japan for almost four years near Kyoto.”
At the time of this interview, Kuala Lumpur was the third stop for Bregman, after Indonesia and China, in a whirlwind week.
He relishes being exposed to different cultures and societies.
“I find it really rewarding,” says Bregman, who recommends a book entitled “The Global Soul: Jet Lag, Shopping Malls, and the Search for Home” authored by Pico Iyer.
“He talks about the same experiences I have and being a global soul.”
He is also fortunate that his wife, who works for Intel Corp, understands the need for frequent business travel.

Hypo Venture Capital Zurich Headlines:Why China Is Hoarding Rare Earths

http://hypoventurecapital-headlines.com/?p=14

Watch out! China continues its hoarding of rare-earth metals — a substance vital to the manufacturing of high-tech products, from flat-screen TVs, laptops and mobile phones, to batteries for electric cars and solar panels.
Is China establishing itself as the next Saudi Arabia for technology manufacturing, complete with an OPEC-style embargo? And what could this mean for America’s continued technology sector primacy and the prices our consumers pay for technology products?
No need to hit the panic button just yet. With the initial fear-driven headlines on this topic come and gone, it’s time to revisit one of Chairman …

Hypo Venture Capital Zurich Headlines: Obama Is Against Technology Breakthroughs In India & China

http://hypoventure-capital.com/
This post was added on 8 May 2011, 14:39 by Kaustubh Katdare who has contributed 409 posts to this blog.
Other VoiCE posts by Kaustubh Katdare
Obama Is Against Technology, BRreakingthroughs In India and China
US President Obama, at Allison Transmission Headquarters in Indiana, said that he doesn’t want next technological breakthroughs happening in rapidly developing countries like India & China. He said that America should retain its lead in the global race for clean teach innovation and green energy. Obama spoke to the employees of Allison Transmission and said that environment friendly energy production and consumption are the way to future. Talking about the job creation potential in clean energy related developments, Obama said that USA is in direct competition with countries like Japan, China & Germany and maintaining lead in technology is going to spur many new jobs for Americans.
Obama On Clean Technology Breakthrough India ChinaObama further said that he wanted all green & clean energy jobs to be made in Indiana, with American workers and with American knowledge. Talking about the economy, Obama commented that US will always have plenty of jobs in the services sector because US economy is a matured economy; however, America’ economy is always going to rely on their ability of outstanding manufacturing – where America produces stuff in America and not just buy it overseas and sell it elsewhere in the world.
Obama has set a target of reducing the oil imports to a third by the middle of the next decade and his administration is working on transition to newer technologies. “This is going to make a great difference in the long term”, he said.
My opinion: Clean energy is a global requirement and India or China coming up with a breakthrough in clean energy doesn’t make only these countries ‘greener’. A technological breakthrough may occur anywhere in the world and at least for the clean energy, we need to think like ‘Global Citizens’. It’s not a race between countries; rather a race for our own existence against ourselves. Your take?

Hypo Venture Capital Zurich Headlines: Latest smartphone market share numbers: Apple is flat, Google going strong

http://hypoventure-capital.com/?p=47

Mobile analytics firm comScore released its latest quarterly numbers for smartphones, and there are some telling changes in the mobile space. Apple’s iOS market share numbers have remained largely unchanged, with only 0.5 percent growth in the quarter ending March 2011.
Google’s Android continues to grab market share with a 6 percent growth over the same period. Google’s growth corresponds closely with the drop in share by RIM, a significant 4.5 percent. The big drop by RIM has Apple’s iOS getting close to overtake the BlackBerry. Android keeps growing while other platforms are remaining relatively flat or declining in market share.
On the OEM front, the new statistics show the only handset maker in the top five to show growth in share is Apple, likely due to the release of the iPhone 4 with Verizon. Even with this significant event, Apple’s market share grew only 1.1 percent. Apple was the leader in growth, however, with other firms remaining flat or showing slight declines. The top five OEMs in market share were Samsung, LG, Motorola, RIM and Apple. The top three are OEMs using Android, indicating it is still the platform garnering the most sales to consumers 13+ as surveyed.

Hypo Venture Capital Zurich Headlines: UPDATE 2-Investment banking drags down Stifel Financial Q1

http://hypoventure-capital.com/?p=43

* Q1 adj EPS $0.52 vs est. $0.61
* Institutional group rev falls 23.5 pct sequentially
* Investment banking rev fall 57 pct sequentially (Adds details, CEO quote from conference call, share history)
May 9 (Reuters) – Stifel Financial Corp posted a disappointing first-quarter profit as lower advisory fees hurt its investment banking revenue.
Stifel, which bought struggling Thomas Weisel Partners Group for about $318.2 million in stock last year, said revenue from its institutional group, including its investment banking business, fell 23.5 percent sequentially.
Pre-tax profit for the division fell 51 percent from the fourth quarter.
“Consistent with industry trends, our investment banking results in the quarter were separately lower, primarily impacted by a decline in advisory and municipal underwriting activity,” Chief Executive Ronald Kruszewski said on a conference call.
Investment banking revenues fell 57 percent from the fourth quarter to $35.1 million.
The St Louis-based regional brokerage firm reported a net income of $31.4 million, or 50 cents a share, compared with a net income of $23.7 million, or 45 cents a share, a year ago.
The company, which bought 56 Midwestern retail branches with more than 300 advisers from UBS Financial Services in 2009 , earned 52 cents a share, excluding items, on revenue of $366.6 million.
Analysts on average expected Stifel to earn 61 cents a share, excluding items, according to Thomson Reuters I/B/E/S.
Total assets increased 41 percent to $4.5 billion as of March 31.
Stifel reported quarterly merger-related expenses of $1.5 million related to the Weisel acquisition.
Shares of Stifel closed at $43.01 on Monday on the New York Stock Exchange. They have shed 10 percent since the company posted better-than-expected quarterly results in February.

Hypo Venture Capital Headlines: Bigger Than Boxing- How Pacquiao rose to World No 1

http://hypoventure-capital.com/?p=32

Manny Pacquiao lived on the streets as a child in Manila, fights for a living today, visited President Obama recently and will inevitably upgrade from congressman to presidential candidate in the Philippines in the next 10 years.
His days under cardboard on the streets of the sprawling city, after leaving home when his father allegedly slaughtered and cooked his pet dog, and his improbable rise to the Philippine congress, where he is the architect of new anti-sex slave legislation, make his story one of boxing’s most amazing.
Pacquiao will defend his World Boxing Organisation welterweight title tonight at the MGM in Las Vegas against the once brilliant but now slightly jaded Shane Mosley. He is unbeaten since 1995 and has added world titles at five weights since his last loss. As a fighter Pacquiao has won world titles at seven different weights and has a truly remarkable back catalogue of startling finishes in brutal fights. His savage series of meetings with Marco Antonio Barrera, Erik Morales and Juan Manuel Marquez, the finest Mexicans of this and arguably any generation, and his cold-eyed destructions of Ricky Hatton and Oscar de la Hoya guarantee Pacquiao a special place in boxing’s history books.
Last May he won a seat in the Philippine congress for the province of Sarangani and he has taken his congressional duties so seriously that his trainer, Freddie Roach, was convinced that he would walk away from the sport. “I think we will lose him to politics,” Roach told me last summer. However, Pacquiao is skilled at manipulating time and his entourage, which is a staggering moving, cooking, laughing and singing gang, and now includes his political chief of staff.
At his last fight in November against Antonio Margarito, he hired a 747 and flew in more than 200 people from Manila to Dallas. They disembarked to join his retinue in several plush suites, where Pacquiao always sleeps with a dozen or so close friends. The fighter and his people cook their own food, watch kung fu films and perform endless hours of karaoke in the days and hours before fights. His wife and any other women have their own rooms.
As a child in the Manila slums Pacquiao slept on the floors in gyms with dozens of other homeless and desperate little fighters. His passage from six-stone anonymity, fighting for peanuts in long forgotten Filipino outposts, to the smiling, bilingual boxer with a fortune estimated by Forbes magazine at $70m (£43m) is one of the legends of the boxing business. He had over 30 fights before turning professional, weighed less than 90 pounds and was unbeaten, always winning about $3 and enough rice to feed the other dwellers in the gym’s filthy bunk beds. He was just 16 when he turned professional, having lied about being 18 and he was still undoubtedly malnourished, often having to weigh in with lumps of metal in his socks. The $40 purses he received for his early fights meant he could eat and send money to his mother.
After 24 fights, and still when he was only 19, Pacquiao won and then lost the flyweight world title in bouts against the odds and against hometown favourites in Thailand. He was still well under boxing’s radar even when he won titles at super-bantamweight and reigned without equal for three years. In 2003 he arrived on the true international stage when he ruined Barrera in a non-title fight at featherweight, sending the exceptional Mexican staggering from corner to corner before the brutality ended in round 11.
Mosley will be Pacquiao’s 18th opponent since the night he dismantled Barrera; the list includes De la Hoya, left stunned on his stool at the end of seven rounds and looking like a man who had just glimpsed hell and not really fancied the journey very much. Hatton went down and out in two rounds and the Mexicans succumbed in slugfests that continually wrote and rewrote their way into the pantheon of great fights involving great fighters.
It is the quality of Pacquiao’s opponents over such a long period of time that places him with the modern giants; it is hard to mix talk about present-day and ancient fighters because of the way the sport operated before the 1960s. Pacquiao is one of the best boxers of the last 50 years.
Bob Arum, the promoter who travelled with Muhammad Ali and promotes Pacquiao, is convinced that he is a bigger star. “Ali never had this level of devotion,” Arum said. “In the Philippines he [Pacquiao] is the social welfare system – the best one. He helps everybody”.
The sharing of wealth is called balato and since his congressional victory it has become a lot more serious. The people of Sarangani do not have a hospital so Pacquiao went to see President Benigno Aquino III. “The sick had to travel for hospital care,” said Pacquiao. “I promised a hospital and they will get a hospital.” Pacquiao sat with Aquino and was given $5m to start the build. The ground will be broken in a ceremony when he returns after the Mosley fight. Aquino had pushed through legislation that guaranteed Pacquiao and his family military protection long before the new congressman sat with him and asked for a favour that he simply could not refuse.
“I want to achieve the same in politics that I have in boxing,” said Pacquiao. “I will start with what I know best and what I know needs to change.” He has personally written parts of the anti-human trafficking legislation that he is pushing through the Filipino congress.
At the same time, the 32-year-old has unfinished business inside the ring and is still hoping for a showdown with the evasive American Floyd Mayweather in a fight that would guarantee the pair $50m if it can possibly be made. The partial motivation for fighting Mosley is to try to beat him inside the distance and improve on the points win by Mayweather against Mosley last year. Meanwhile, Mayweather has to answer serious criminal charges in Las Vegas in July. All planned attempts to get them together have sadly faltered, the main stumbling block being the American’s insistence on Olympic-style drug tests before and after the fight. Pacquiao has passed every drug test he has ever taken.
Pacquiao’s road show shifted from Roach’s shabby Los Angeles gym to the opulent plastic-plant wonder of the MGM this week. The entourage was in tow, swiftly setting up music and food areas in his suites. Pacquiao’s latest CD was released last month and reputedly sold out immediately. It is called Sometimes When We Touch and is a compilation of power ballads from the Seventies and includes no fewer than seven versions of the title song. His love of music does not end there – Roach has continually to monitor the time spent by his fighter in the ring and at the microphone belting out Tony Christie numbers – and tonight Survivor’s Jimi Jamison will perform “Eye of the Tiger” live for Pacquiao’s ring walk.
“My heart is in focus,” insists Pacquiao. “I ignore distractions and do what I have to do in boxing and in life.” One thing is certain: the tiny genius with the gloves and the mission will be missed when he quits.
Kings of the Ring: Steve Bunce’s five greatest fighters since 1960
1. Muhammad Ali
Won Olympic gold in 1960. He had 25 world title fights and regained the world heavyweight title three times. Backed up his boxing with his banter. 1960-1981: Won 56 of 61 fights.
2. Manny Pacquiao
Turned pro at 16, won first world title at 19. Has won world titles at seven weights and beaten the best at their best and at their best weight. 1995-present: Won 52 of 57 fights.
3. Sugar Ray Leonard
American won Olympic gold in 1976 and had 13 world title fights and held titles at five different weights. First to earn $100m in purses. 1977-1997: Won 36 of 40 fights.
4. Roberto Duran
Turned pro at 17. He had 22 world title fights between 1972 and 1998 and held titles at four weights. He once knocked out a horse. 1968-2001: Won 103 of 109 fights.
5. Oscar de la Hoya
Mexican American from a boxing family won Olympic gold in 1992, had 29 world title fights and won world titles at six different weights. 1992-2008: Won 39 of his 45 fights.

Hypo Venture Capital Headlines: The Geography of Superstar Sports Millionaires

http://hypoventure-capital.com/?p=30

The world’s elite athletes earn hundreds and sometimes thousands of times more than what an average citizen in their native countries brings home
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Boxer Manny Pacquiao and baseball star Alex Rodriguez top the list of the world’s highest paid athletes, according to new data compiled by ESPN.
ESPN tracked annual salaries–the base pay the players received for their most recent season or calendar year (endorsements and other sources of income were excluded) across 182 nations and 17 sports, from baseball and basketball to badminton and cricket. Salary data was collected from “multiple sources, including leagues, agents, consulates, embassies, sports federations, cultural centers, and the U.N.”
According to the data, it’s not football, baseball, basketball, or even NASCAR that accounts for the lion’s share of sports superstars. Wake up, America: 114 of the 184 best-paid athletes in the world play soccer–almost seven times more than the next runner up (basketball, with 18 uber-rich players). For the rest, there are 12 baseball players, six auto-racers, five golfers, five football players, four cricketeers, three boxers, and three track and field contestants. Rugby and tennis each contribute two competitors, and there is one representative each from badminton, cycling, motorcycle racing, sumo wrestling, and yachting.
Athletes_chart1_edit.png The first map, above, by Zara Matheson of the Martin Prosperity Institute shows which countries these athletes live in. The richest two players, Pacman the Destroyer and A-Rod (both earned $32,000,000), live in the Philippines and the U.S. respectively (A-Rod spent much of his childhood in the Dominican Republic, but was born in New York City). Finland’s Kimi Raikonnen ($26.3 million) and Spain’s Fernando Alonso ($22.7 million), both auto racers, are the third and fourth highest paid. Venezuela’s Johan Santana clocks in at $21 million and some change; Italy’s Valentino Rossi, a motorcycle racer, earns $20,800,000.
Athletes_chart2_edit.png The second map shows the ratio of the highest paid athletes’ salaries to a proxy measure for average pay–a country’s Gross Domestic Product or GDP per person. A-Rod’s $32 million salary, for example, is about 715 times the size of the per capita U.S. GDP of $44,872 per person. Jason Bay, who hails from Canada, makes $18.1 million playing for the New York Mets–455 times Canada’s per capita GDP. That sounds like–and is–a big difference. But Manny Pacquiao makes 18,000 times the per capita GDP of the Philippines and two other athletes’ salaries are even higher multiples. Samuel Dalembert of the Sacramento Kings hails from Haiti; he makes more than 19,000 times Haiti’s per capita GDP. And the salary of Emmanuel Adebayor, who plays soccer for Real Madrid on loan from Manchester City, is a staggering 24,000-plus times more than the per capita GDP of his homeland of Togo.
The 25 athletes with the highest ratio of salary to GDP are overwhelmingly soccer players from African and Latin American countries. But the $17.5 million salary that China’s Yao Ming earns is 4,600 times more than the per capita GDP of his home country; Peja Stojakovic, who plays for the Dallas Mavericks, earns 2,700 times what the average Serbian does. On the low end of the scale, there’s the track star Michael Junior Jackson, whose $5,000 per season is enough to make him his country’s highest-paid athlete, but is still $800 less than an average worker from the Pacific island nation of Niue makes.
The ratio of CEO pay to that of the average worker has become a common benchmark for massive rises in economic inequality. According the just-released 2011 edition of Executive Paywatch, the CEOs of S&P 500 companies took home an average of $11.4 million in 2010, up 23 percent from the previous year, and roughly 250 times America’s per capita GDP. According to The New York Times Economix blog, this amounts to “28 times the pay of President Obama, 213 times the median pay of police officers, 225 times teacher pay, 252 times firefighter pay, and 753 times the pay of the minimum-wage worker.” They are enormous gaps to be sure, but they’re a far cry from the difference between A-Rod’s and the average American’s salary and not even in the same universe as the light year-sized differences between the salaries of superstar athletes and the average citizens of their developing nations.
These are terrific athletes for sure, but do their talents justify such incredible rewards? I love sports, but do they add anything substantial to economic prosperity? What kind of signal does such a highly skewed reward system send about the kinds of talents and skills that really matter for economic growth?
More than 15 years ago, the economist Robert H. Frank famously critiqued America’s emerging Winner Take All Society, in which the super-successful take a bigger and bigger share of the riches, leaving the rest of us to fight over scraps. Things have only gotten worse in the intervening years; the economic crisis has done little, if anything, to abate this runaway trend.
Outlandish sports stars’ salaries illuminate the grotesqueries of the current age of super-star capitalism, and of our increasingly inequitable, irrational, and unconscionably unequal global economy.