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Knight Capital’s Clients Are Completely Abandoning Them (KCG)

Source: http://www.businessinsider.com/traders-knight-capitals-clients-have-completely-abandoned-them-2012-8

Volatile Trading Nanex

Knight Capital’s clients have completely flown the coop after a software error in the company’s trading software caused the company to stomach $440 million in losses, according to three different traders consulted by Business Insider.

Wall Street institutions large and small no longer feel comfortable using the market making firm to execute their trades in the wake of the snafu, essentially cutting of its business.

An equities trader explained that Knight was the “last place” he would go to execute a trade. Others expressed befuddlement and the firm’s inability to rectify the trading error for a full 45 minutes.

Wall Streeters’ abandonment of the firm bodes ill for the company’s ability to recoup losses. In May, the company had a daily trading volume of about $21 billion.

Shares of Knight Capital Group fell 63 percent during trading yesterday, and many predict the firm will go under without outside aid.

NOW READ: 10 Technical SNAFUS That Have Wreaked Havoc With The Markets >

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Friday, August 3rd, 2012 news No Comments

A Beautiful Visualization Of How The Labor Market Changed After The Great Recession

Source: http://www.businessinsider.com/the-current-job-market-compared-to-the-pre-recession-job-market-2012-3


This is a great chart from Dave Altig.

Click to enlarge.

chart

Basically, what’s going on is, any dot above the diagonal line represents an industry where job growth is faster now than it was pre-recession. Any dot below the line indicates slower job growth.

As you can see, manufacturing is the real outlier here, as it averaged a monthly loss of 30K jobs between 2001-2007, whereas it’s been averaging monthly job gains from July 2009 to February 2012.

Karl Smith (who brought the chart to our attention) notes:

This is important for thinking about any kind of structural story you might be inclined to tell. Manufacturing employment had been falling for roughly 15 years and then suddenly stopped falling in the wake of this recession and started growing.

This may be (the) structural shift that folks are looking for but its important to note that this is basically a “reshoring” shift. Although, it’s not so much reshoring as a rapid slowdown in offshoring combined with growing underlying demand.

Anyway, on the flip side of the chart it’s pretty obvious that the big standouts are government and construction jobs, which means that recent signs of turnarounds in both could portend another big leg up in employment.

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Sunday, March 25th, 2012 news No Comments

Huge Company Bans Internal Email, Switches Totally To Facebook-Type-Stuff And Instant Messaging

Source: http://www.businessinsider.com/company-bans-email-2011-12


In case big email providers like Microsoft, Google, and Yahoo hadn’t already been scared stiff by recent online communication trends, this news should wake them up.

A huge French company has just banned the use of email within the company. Instead, having concluded that the vast majority of email is just time-wasting noise, it is switching all employees to a Facebook-like interface and instant messaging.

The company is Atos.  Susanna Kim of ABC reports:

CEO Thierry Breton of the French information technology company said only 10 percent of the 200 messages employees receive per day are useful and 18 percent is spam.  That’s why he hopes the company can eradicate internal emails in 18 months, forcing the company’s 74,000 employees to communicate with each other via instant messaging and a Facebook-style interface.

Caroline Crouch, a spokeswoman for the company, told ABC News the goal is focused on internal emails rather than external emails with clients and partners. Atos has already reduced the number of internal emails by 20 percent in six months.

When asked how employees have responded to the policy, Crouch told ABC News the overall response “has been positive with strong take up of alternative tools.”

Breton, Atos’s CEO, says he hasn’t sent an email in three years. (And he’s obviously managed to keep his job.)

This trend at the corporate level mirrors email trends among young people–the future workforce. As the chart below shows, the use of web-based email by the younger crowd is plummeting, as these folks communicate via Facebook, IM, and texting instead.

Email is still an extremely convenient way to communicate, so it’s not likely to go anywhere. But there’s no question that email is losing share of digital communications, including in the workplace. And that’s not good for companies that depend on it for their livelihoods.

chart of the day, web-based email use by age year over year, nov. 18, 2011

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Sunday, December 4th, 2011 news No Comments

Father Of The Internet Says "Shoot The Patent Lawyer" (GOOG)

Source: http://www.businessinsider.com/father-of-the-internet-says-shoot-the-patent-lawyer-2011-11


Vint Cerf Google Atmosphere 2011

Vint Cerf, one of the inventors of the Internet and now a Google evangelist, still thinks open standards will win in the end.

He just finished speaking on stage at Atmosphere, the company’s cloud computing event at its headquarters in Mountain View.

The host presented a hypothetical scenario in which a young genius discovers the replacement for the Internet. Does she publish the spec immediately or call a patent lawyer?

“Shoot the patent lawyer,” he replied.

“Bob [Kahn] and I knew we would not succeed if we tried to protect the Internet’s design.” The only way they could be sure it would get widespread adoption was by publishing the technical standards it was based on. “I still think that’s good advice.”

His point echoes Google’s stand on the patent wars happening in the mobile space, but Google plays the patent game as well for key inventions like its search algorithms.

Cerf also talked about the importance of Internet governance, moving to IPv6 as the original IPv4 addresses are used up, and explained that idea of Internet-connected devices like refrigerators and lightbulbs used to be a joke, but is now becoming real.

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Monday, November 14th, 2011 news No Comments

How many users does Blippy have now?

In the wake of the PR nightmare/stroke-of-genius are there only 23,700 exhibitionists left for blippy.com (the site that lets users publish every single transaction from their credit card statement live)?

http://bit.ly/93Kpdy

NYTimes Article:  http://nyti.ms/9ZK0M9

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Monday, April 26th, 2010 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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