Why Brownridge Stepped Aside

first_imgYesterday, Kent Brownridge—the former Wenner Media executive who, along with Quadrangle Partners, formed Alpha Media last year after acquiring Dennis Publishing’s U.S. assets (Maxim, Stuff and Blender, though not The Week) for $240 million—announced he was stepping down as CEO. The company named a pair of co-CEOs to take his place, with Brownridge retaining the title of chairman.This was a curious move, because Brownridge, a notorious workaholic, became known for his hands-on management style at Wenner Media, where he spent 21 years as Jann Wenner’s consigliore. And despite the curious timing—both Blender and Maxim, like most consumer titles, have struggled to sell ads in 2008—it appears that Brownridge’s departure is truly a case of a 68-year-old publishing executive wanting to spend more time away from the office, cut the 100-hour workweeks in half and, perhaps for the first time in his career, take a “summer Friday” or two.“I have a new wife who’s not liking this very much. And while my health is very good, I want it to stay that way,” Brownridge told Portfolio. “I plan to get home at six instead of 10. Also, we have summer Fridays here, so I might even do that.” Brownridge sounded more confident that he would, in fact, take them when he spoke to WWD: “I’m going to take summer Fridays, not go into the office every day, and I’m not going to stay past 5 p.m.” He admitted that his post-Wenner “retirement” didn’t work, which is why he plans to be an “active” chairman while spending less time fielding a “steady flow of e-mails at all hours to [his] BlackBerry.” The sources I spoke with yesterday seemed to buy Brownridge’s version, and refuted the notion that there was pressure from Quadrangle to move Brownridge out, although that’s always a possibility.For now, though, he can rest his BlackBerry thumb, and take that summer Friday.last_img read more

Red Cross Announces Upcoming Blood Drives In Wilmington

first_imgWILMINGTON, MA — The American Red Cross is conducting the following upcoming blood drives in Wilmington:Tuesday, September 18, 2018, 1pm-7pm: Wilmington Friendship (Masonic) Lodge (32 Church Street)Saturday, September 29, 2018, 10am-3pm: Wilmington Congregational Church (220 Middlesex Avenue)Sunday, November 4, 2018, 10am-3pm: St. Thomas/Wilmington Knights of Columbus Hall (126 Middlesex Avenue)Interested donors can call 1-800-RED CROSS (1-800-733-2767) to book an appointment, but walk-ins ARE welcome.Here are some important facts about blood and the blood donation process, from the Red Cross’s website:Every two seconds, someone in the U.S. needs blood.More than 41,000 blood donations are needed every day.More than 1.6 million people were diagnosed with cancer last year. Many of them will need blood, sometimes daily, during their chemotherapy treatment.Although an estimated 38% of the U.S. population is eligible to donate, less than 10% actually do each year.Donating blood is a safe process. A sterile needle is used only once for each donor and then discarded.Blood donation is a simple four-step process: registration, medical history and mini-physical, donation and refreshments.Every blood donor is given a mini-physical, checking the donor’s temperature, blood pressure, pulse and hemoglobin to ensure that it is safe for the donor to give blood.The actual blood donation typically takes less than 10-12 minutes. The entire process, from the time you arrive to the time you leave, takes about an hour and 15 minutes.First time donor?  Haven’t given blood in awhile?  Read this checklist so you know what to expect.Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedRed Cross Announces Upcoming Blood Drives In WilmingtonIn “Community”Red Cross Announces Upcoming Blood Drives In WilmingtonIn “Community”Red Cross Announces Upcoming Blood Drives In WilmingtonIn “Community”last_img read more

Cairn IndiaVedanta merger may be delayed by at least 3 months

first_imgMetals and mining major Vedanta’s proposed deal to merge with subsidiary Cairn India would take at least another quarter to be completed.On 14 June last year, Vedanta had announced its plans to merge with Cairn India in a deal worth $2.3 billion. Anil Agarwal-led Vedanta Resources had said in November last year that the merger would be completed by 2016’s April-June quarter. But, it has now been disclosed that the merger will be delayed further by “at least a quarter”.”The management has given to understand that the merger is running behind schedule and the companies are still awaiting a date from the high court to convene a meeting of shareholders,” The Financial Express quoted an analyst, who participated in the conference call hosted by Cairn India last Friday after its third quarter results, as saying.The shareholders’ meeting after the court’s order will be the “most crucial” for the merger to go ahead, according to another analyst who is closely tracking the transaction.For the merger to sail through, a majority of shareholders have to vote in favour of the transaction.”With regard to proposed merger with Vedanta Limited, the company is seeking directions of the Bombay High Court for convening meeting of all our relevant stakeholders,” Cairn India said in its statement on 22 January.Cairn India had given a $1.25 billion loan to Vedanta in July 2014 at below market rates that led to a sharp fall in investors’ wealth. Initially, Life Insurance Corporation (LIC) — a major stakeholder in the oil and gas explorer — had objected to such an unhealthy move, but did not take any action.In September last year, the stock exchanges had given “no objection” for the merger.”The potential merger with parent Vedanta remains a key concern. The proposed swap ratio at Vedanta’s current share price implies value for Cairn of only Rs 84/share, implying 30% downside potential to the current price,” Nomura said in a note to its clients last week.last_img read more

Leave supporters cheer out out out

first_imgThe pound dropped below the crucial $1.40 mark amid fears that the UK would vote to leave the European Union. Sterling fell as much as 10% early on Friday, and is on track for its worst one-day fall in history. Trading was at $1.3262, down nearly 9%, as of 5.27am BST.The pound, which had earlier hit a 2016 high as polls suggested the Remain camp would come through in the referendum, fell to lows not seen since 1981. Just before 5am BST, as various agencies began calling the referendum in favour of Leave, the pound slipped further to trade at 1.3322. Stock futures on the FTSE 100, which had ended the previous session up 1.23% were predicted to be down 8% as the vote swung Friday.Its extraordinary, said John Wraith, Head of UK Rates Strategy, UBS Investment Bank, Reuters reported. Shock probably isnt too strong a word. People will come in this morning earlier than usual, so its a skeleton staff right now. But shock was the first reaction. Now its all hands on deck trying to deal with the volatility, he said.Early Friday, the BBC, and other agencies, forecast that the UK had decided to leave the EU based on the analysis of pending undeclared counts.Markets are very nervy at the moment, Joe Rundle, head of trading at ETX Capital in London, told Reuters. Its definitely tin hats time. If Leave wins there will be carnage for cable, he said, referring to the sterling/dollar exchange rate.Elsewhere, the Nikkei 225 in Tokyo was trading down 6.73% while Hong Kongs Hang Seng was down 4.7% and the Shanghai Composite was down over 1%.Ahead of the EU referendum results, the pound was trading higher at $1.50, amid expectations that the Remain campaign would win. However, after votes in Sunderland and Newcastle swayed towards the Leave campaign, the sterling declined to $1.43. It further fell to $1.41 at about 2am.The pound then dropped below 1.35, a 31-year low, Bloomberg reported. A few traders said that they had not witnessed such dramatic moves since the financial crisis of 2008.Jeremy Cook, chief economist at World First, a UK-based foreign exchange company said, These moves are concerning and bring back pretty painful memories of 2008.The pound didnt have this bad a day [against the dollar] in the global financial crisis and the moves by the bookies to price Leave as the favourite is killing the pound. News from Wales is the most concerning at the moment alongside the London turnout dynamics.Analysts have warned that the drop was amplified by low trading volumes. Jeremy Stretch from CIBC said, Volumes are very low and markets are relatively illiquid. Traders are very jittery, its not just in sterling.last_img read more

Best of Last Week – First 3D magnetic logic gate water tractor

first_img(Phys.org) —It was a busy week for applied physics as Researchers build first 3D magnetic logic gate—they used programmable 3D nano-sized magnets to build the gate–it could lead to circuit chips with increased density. And speaking of circuit chips; Tiny chip mimics brain, delivers supercomputer speed. A collaborative effort has led to the development of a “neurosynaptic” chip, its makers claim, and it works by using processes that mimic the human brain. Because the chip, named TrueNorth uses a neural design it is able to process data on par with a supercomputer, opening the door for such uses as driverless vehicles that don’t have to rely on communications with a more powerful remote computer to get around. In related news, neuroscientists are zeroing in on The fastest neurons in the brain, aka “fast-spiking parvalbumin-positive interneurons.” Perhaps their findings will lead to an even faster neurosynaptic chip. Scientists create purple-winged butterflies in six generations Magnetic force microscope images of the 3D magnetic logic gates, each containing three input magnets and one output magnet. Numbers show the magnetization states of the output magnet for all input configurations. Credit: Eichwald, et al. ©2014 IOP Explore further Citation: Best of Last Week – First 3D magnetic logic gate, water tractor beam and charging phones wirelessly (2014, August 11) retrieved 18 August 2019 from https://phys.org/news/2014-08-week-3d-magnetic-logic-gate.htmlcenter_img © 2014 Phys.org Also, Physicists create water tractor beam—a team at The Australian National University found they could use wave generation to move objects sitting on the surface of a liquid. That could come in handy for managing ships in tight quarters, or perhaps to help move floating drones. Also, smartphone users can start holding their breath: Charging with ultrasound: uBeam has functional prototype—it’s a wireless charging platform that uses ultrasound to send electricity to devices through the air to charge portable electronics. They hope to have a product ready sometime in the next two years.In biology news, Scientists create purple-winged butterflies in six generations using nothing but selective breeding. All they had to do was measure the ultraviolet reflectivity of moth wings and breed those with the color closest to purple, a process the researchers believe could be replicated when designing devices that trap light, tune color or steer light beam. Also, Flores bones show features of Down syndrome, not a new ‘hobbit’ human. And finally, if you’re wondering if you’re perhaps a little too into yourself, you can find out, as a team of researchers has discovered that Just one simple question can identify narcissistic people. Turns out, all they had to do was ask them, which suggests, you could do the same. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.last_img read more

Will fund projects via longterm debt not fare hikes or tax payer

first_img“Loan is way forward (infrastructure) development. Countries like US, China and Europe have taken loans for development of their infrastructure,” Prabhu said in an interview to Lok Sabha TV.Asked whether the government is going in for privatisation of railways in future, he explained: “We are taking debt for development of railways infrastructure, that means we are not doing privatisation. Besides there will be no burden of development on passenger fare as well as tax payers money.” Also Read – I-T issues 17-point checklist to trace unaccounted DeMO cashPrabhu expressed confidence that institutions like LIC (in India),pension funds and sovereign funds can provide debt and they will not insist on early repayment of loan. “The LIC, pension fund and sovereign wealth funds don’t insist on repayment of loans in short term, rather they want us to pay in over 30 years,” he added.On hitting the ground running, he quoted a famous saying, “Rome was not built in a day. There are few things which would be done this year like 3000 unmanned crossings will be removed and work will start immediately to improve cleanliness, safety, security and surveillance.” The Minister hinted that some initiative like train-sets, redesigning of coaches, doubling and tripling of rail lines, may take longer than expected to be implemented. On running of bullet trains in India, he said, “Our thrust would be on basic facilities first like sanitation, time bound arrival of trains which is going to be implemented in the stipulated time period. Those would be focus areas.” Also Read – Lanka launches ambitious tourism programme to woo Indian touristsOn private participation in railways, Prabhu said that there would be a system to regulate private sector players willing to invest in station development projects. On decentralisation of power to improve efficiency of railways, he said,”This will happen for the first time that more responsibility will be given to officers. It is not on Railway Minister or Railway Board which will do everything.” Earlier, in his Budget speech, Prabhu said: “We will monetise our assets rather than sell them”.  On Special Purpose Vehicles (SPV), he said, “We have created new SPVs with the oil ministry, coal ministry… those will deliver. Rather than one entity, there will be multiple entities delivering.”last_img read more

Strength training may reduce diabetes risk

first_imgStrength training over a short time period may be a fast and effective strategy for reducing risk of fatty liver disease and diabetes in obese people, a study has found. Researchers from University of Campinas in Brazil investigated the effects of strength-based exercise on liver fat accumulation, blood glucose regulation and markers of inflammation in obese mice. According to a study published in the Journal of Endocrinology, strength training can reduce fat stores in the liver and improve blood glucose control in obese mice. Also Read – Add new books to your shelfThe study reports that strength training over a short time-period, less than would be enough to change body fat composition in humans, was sufficient to reduce the accumulation of liver fat and improve regulation of blood glucose in obese mice. Obesity is a growing, global health epidemic that needs more effective intervention strategies to avoid debilitating complications including fatty liver disease and diabetes. Approximately 94 per cent of obese people are diagnosed with non-alcoholic fatty liver disease. Also Read – Over 2 hours screen time daily will make your kids impulsiveThis increases the risk of type 2 diabetes and its associated serious complications, including nerve and kidney damage. Although increased physical activity is a widely accepted method of improving health and aiding weight loss, the relative benefits of different types, durations and intensities of physical activities are still under much debate. A wealth of research has focussed on the benefits of energy-burning aerobic exercise, with the potential benefits of muscle-building strength and resistance training often neglected. For the study, obese mice were made to perform strength training over a short time-period, the equivalent of which in humans would not be enough to change their body fat composition. After this training the mice had less fatty livers, reduced levels of inflammatory markers and their blood glucose regulation was improved, despite no change in their overall body weight. “The fact that these improvements in metabolism occurred over a short time suggest that strength training can have positive effects on health and directly affect liver function and metabolism,” said Leandro Pereira de Moura from University of Campinas.last_img read more

Mobile Sharing Economy Internet of Things the Coming Economic Boom

first_img The rise of the sharing economy over the past few years has shifted mindsets and traditional business models. Consumers are much more open to renting items and services from individuals instead of established businesses and organizations. This is shaking up engrained business models and allowing for new possibilities in the global marketplace. The peer-to-peer sharing models, like Spinlister (where I work) and Lyft, offer new and unique options for transportation at your fingertips.Related: 8 Ways the ‘Internet of Things’ Will Impact Your Everyday LifeSharing has gone mobile. A decade ago the sharing economy was fragmented and limited in its practical use. First, people had to accept the idea of sharing. People had to be willing to trust the community and take a risk on another person actually delivering that good or service.Second, when people began sharing they were unable to do so on a global level. That made it difficult to sustain any real income. Before mobile devices were widely available, sharing was limited to informal personal networks or websites offering limited services via the Internet. AirBNB probably would have succeeded regardless of mobile technology, but what about the other major players that help drive the sharing economy as a whole?Advances in mobile technology have propelled an entirely new marketplace with people sharing everything. More importantly, it has made the fulfillment of immediate or impulsive needs possible and convenient. It helps complete transactions that start online, coordinate multiple parties and make the entire experience frictionless.Sharing would struggle if it weren’t convenient and it would never be convenient without mobile technology. People are constantly on the go and busy. If an item they’re trying to share is on their person, they need a way to update the location of those goods to be truly useful and frictionless for both sides. Mobile technologies have opened the doors for people to effortlessly share goods and make money.The realization that idle goods can generate significant income, and mobile technology makes sharing those goods easy, has transformed the sharing economy into a multi-billion dollar industry. A recent internal study commissioned by us at Spinlister found that only 4 percent of Americans have used AirBNB or Uber. Imagine how big the sharing economy will be once it hits 20, 30, 40, or 50 percent saturation.Related: The Internet of Things May See Huge Growth, So Companies Want in NowSharing in an interconnected era. I was recently discussing a concept called The Internet of Things (IoT) with a brilliant young engineer working within an exclusive technology development department at a major electronics company. There is a race to develop hard goods that both serve a function and connect directly to the Internet, other goods and devices. That information can be relayed into third party applications.For Instance, imagine you need a eight-foot step ladder. With IoT, you could locate the ladder nearest to you. Add that data to a sharing economy platform and you could share almost every object you own! This is an extreme example but it illustrates how mobilization technology will expand the sharing economy in the future.While practical use of this technology is likely five to 10 years out for major product lines, I expect  these applications will trickle down to everyday goods over the next decade or two. Within that time frame I also expect the sharing economy to mature, more major players will emerge and a critical mass of people will regularly use a sharing economy platform.Once IoT is added into the equation, people will start thinking of mobility in terms outside of their mobile phones. This “mobility of things” will open the door to the sharing of almost everything you can think of. It will be easy, fluid, cheap and revenue generating.The sharing economy movement is the gold rush of our generation. The advances in mobile technology will strengthen the marketplace while making it easier and more convenient for all parties involved to participate.Related: What’s the Right Path for Startups Entering the ‘Internet of Things’? 4 min read September 22, 2014 Free Webinar | Sept. 9: The Entrepreneur’s Playbook for Going Global Growing a business sometimes requires thinking outside the box. Opinions expressed by Entrepreneur contributors are their own. Register Now »last_img read more