identity

Just 35 Percent Of Americans Cash In On Jobless Benefits

Source: http://www.businessinsider.com/jobless-unemployment-st-louis-fed-claims-rarer-than-overpayments-2012-10

unemployment

Among consumers eligible for unemployment benefits, just over one-third actually bother to cash in on average, according to new data from the  Federal Reserve Bank of St. Louis

The data applies to the last 22 years (1989 to 2011), save for during the recession, when elligible claims rose to 50 percent.

The findings are key for a couple of reasons.

Back in July, CNN Money cited data that showed that the Dept. of Labor had overpaid jobless claims by no less than $14 billion in 2011. In 2009, it was estimated that 11 percent of all claims were overpaid, for a total of about $11 billion. 

But since so many elligible workers are actually leaving their cash on the table, the agency should be more than capable of making up for lost funds.

For example, the 50 percent of workers who didn’t apply for benefits in 2009 saved the government an estimated $108 billion.

That’s more than 10 times as much cash the Dept. of Labor said was wasted on overpaying benefits the same year

There’s no denying overpaying jobless benefits is a problem –– most of them wind up in the hands of prisoners, identity thieves, retirees, and current workers –– but the report at least helps put that shortcoming into perspective.

Fraud is responsible for just 3 percent of all benefits paid, the Fed found, while eligible consumers leave seven times that much cash on the table by not applying for benefits.

And overpayments are beginning to slowly improve. The Department of Labor reported a 0.35 percent drop in overpayme! nts betw een July 2010 and 2011, and a 0.4 percent drop in errors caused by people who didn’t register their employment status with their state’s labor department.

The BLS put together a map of each state’s improper payment history in 2011, when overpayments topped $14 billion:

bls

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Monday, October 29th, 2012 news No Comments

Facebook outlines its ad targeting strategy on one handy page, presents a complex privacy picture

Source: http://www.engadget.com/2012/10/01/facebook-outlines-its-ad-targeting-strategy-on-one-handy-page/

Facebook privacy padlockTo say that Facebook has to tread lightly around privacy issues is an understatement, especially with a targeted ad push underway. Rather than navigate that minefield once more, the social network hopes to skip it entirely by posting an overview of how the ad system tracks habits while retaining our anonymity. For the most part, Facebook walks the fine line carefully. Its Facebook Exchange auction system relies on a unique, untraceable browser ID to target ads to specific people without ever getting their identity; both a mechanism targeting ads beyond Facebook and a Datalogix deal to track the ad conversion rate use anonymous e-mail address hashes that keep advertisers happy without making the addresses readable to prying eyes. The initiative sounds like it’s on the right course, although there’s caveats at work. Opting out of any Facebook Exchange ads requires tracking down individual ad providers, which isn’t likely to result in many of us leaving the ad revenue stream. Likewise, those who’d object even to the completely anonymous ad profiling don’t have a say in the matter. With those concerns in mind, it’s doubtful there will be many significant objections in the future — Facebook knows its advertising money train can only keep churning if its members are comfortable enough to come along for the ride.

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Facebook outlines its ad targeting strategy on one handy page, presents a complex privacy picture originally appeared on Engadget on Mon, 01 Oct 2012 16:16:00 EDT. Please see our terms for use of feeds.

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Tuesday, October 2nd, 2012 news No Comments

Even Walmart Is Snapping Up Social Media Companies (WMT)

Source: http://www.businessinsider.com/even-walmart-is-snapping-up-social-media-companies-2012-1


Walmart shoppers

Walmart wants to transform itself into a social media retail mega player and it’s backing that desire by investing millions of dollars into its young, little-known development lab, @WalmartLabs.

Born in April with the $300 million purchase of Kosmix, @WalmartLabs today announced  its fourth acquisition, a mobile app company called Small Society known for writing apps for clients like the Democratic National Committee and Starbucks.

@WalmartLabs had previously bought mobile point-of-sale app maker Grapple. It also snapped up location-aware mobile ad company OneRiot.

The co-founders of Kosmix, Venky Harinarayan and Anand Rajaraman, are the leaders of Walmart Labs. Each has been granted the title of senior vice president of Walmart Global eCommerce and head of @WalmartLabs.

Their goal is to have Walmart create the next great shopping experience by melding physical stores with online search and social media input.

“We are at an inflection point in the development of ecommerce. The first generation of ecommerce was about bringing the store to the web. The next generation will be about building integrated experiences that leverage the store, the web, and mobile, with social identity being the glue that binds the experience,” said Anand Rajaraman in a blog post when @WalmarLabs was launched.

Using what it calls its “Social Genome” applications, it scans Twitter and other social sites to seek out and analyze consumer trends. The team is also writing mobile apps for shoppers. 

What’s interesting is that Walmart would rather build its own than use some of the many social media tools for retailers already on the market, even from big IT companies like Oracle and IBM.

So far the group has launched a classic iPhone and iPad shopping app and one called ShopCat for Facebook users. ShopCat scans Facebook friends’ profiles to recommend gifts for them from Walmart, RedEnvelope, Barnes & Noble, and ThinkGeek.

But the team clearly has bigger plans for changing the way everyday people shop for everyday items. And it looks like @WalmartLabs has only just begun: it’s got a career section 25 jobs long.

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Wednesday, January 4th, 2012 news No Comments

This Is What Your Wikipedia Edits Look Like

Source: http://gizmodo.com/5495353/this-is-what-your-wikipedia-edits-look-like

Normally I’d file this image under our “what is this” image cache, but as you’ve already clocked, it’s somehow related to our Memory [Forever] theme. Those pretty colors are a visualization of the thousands of Wikipedia edits made by a bot.

It’s not just a one-off visualization for adding to our Tumblrs either. It’s the work of Many Eyes, a website set up by a pair of computer scientists at IBM, to catalog visual representations of data. Looking at the site now, two years after Wired brought it to light and interviewed founder Martin Wattenberg, recent artworks tackle the issue of migration in the US, and cremations.

When asked by Wired back then why he’s so keen to visualize data, Watterberg responded that:

“Language is one of the best data-compression mechanisms we have. The information contained in literature, or even email, encodes our identity as human beings. The entire literary canon may be smaller than what comes out of particle accelerators or models of the human brain, but the meaning coded into words can’t be measured in bytes. It’s deeply compressed. Twelve words from Voltaire can hold a lifetime of experience.”

Wikipedia data remains a favorite for them though, thanks to the “idea of completeness” Watterberg talks about, that even though all the data on Wikipedia equals a terabyte or so, “it’s huge in terms of encompassing human knowledge.” [Many Eyes via Wired]

Memory [Forever] is our week-long consideration of what it really means when our memories, encoded in bits, flow in a million directions, and might truly live forever.

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Wednesday, March 17th, 2010 news No Comments

This is what happens when 99% of the inefficiencies are cut out of a system (advertising industry)

Update: Including Q3 09 numbers

Source: http://adage.com/agencynews/article?article_id=140125

While no holding company’s results are pretty these days, Interpublic Group of Cos. last week posted particularly poor numbers, swinging to a net loss of over $35 million for the first nine months of 2009 from almost $60 million in profit during the same period in 2008. IPG’s third-quarter revenue fell 18% compared to declines of 14.4% at rival Omnicom Group, 8.7% at WPP (factoring out the effect of acquisitions and currency shifts) and 5.3% at Publicis Groupe. WPP’s reported revenue, including revenue from its big Taylor Nelson Sofres acquisition, rose 16.7%. In the same quarter, net income attributable to IPG tumbled 47.3%, more than double the drop of Omnicom (down 22.5%).

wasted-ad-dollars

Google changed the game by changing the business model from paying for impressions to paying only when the advertiser gets the click.  This helped to cut out the 99% of waste and inefficiency which existed in the industry.


WPP Profit Dropped 47% in Second Quarter More Than Half of Company’s Revenue Came From Nontraditional Advertising

NEW YORK (AdAge.com) — Using words such as “severe” and “surprise” to describe the recession’s impact on its business, WPP, the world’s largest advertising conglomerate, today said its profit was down 47% for the second quarter. And WPP Chief Executive Martin Sorrell said it will be a while before marketing executives begin to spend and take chances the way they did just a few years back.

FULL ARTICLE – Source: http://adage.com/article?article_id=138673

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In a first half earnings statement released this morning, WPP Group announced that digital and direct marketing-related services now comprise 25% of its body.

WPP Group owns labels like 24/7 Real Media, Mediaedge:cia, MediaCom, Mindshare, GroupM and Outrider.

Digital and direct garnered $1.7 billion in revenues in the first half of ‘09, with a projected annual run rate of nearly $3.5 billion total. But it is digital media and advertising that appear to be dominating the segment.

Overall, first half revenues fell 2.9% to $6.4 billion in the first half on a reported basis, MediaPost reports. Like-for-like, however, total revenues slid 8.3% against the first half of 2008.

According to WPP, traditional advertising and “media investment management” have been the hardest-hit amidst the economic downturn.

“On a constant currency basis, advertising and media investment management revenues fell by 7.5%, with like-for-like revenues down 7.8%,” it stated.

Branding and identity, healthcare and specialist communications — which includes direct, internet and interactive — were least affected.

The media conglomerate committed to prioritizing the growth of digital communications, customer insights and strong geographic markets.

Related topics: Online Advertisers, Data Updates,

Sourcehttp://www.marketingcharts.com/updates/digitaldirect-marketing-now-25-of-wpp-group-10211/?utm_campaign=rssfeed&utm_source=mc&utm_medium=textlink

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Thursday, August 27th, 2009 digital 1 Comment

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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