Category Archives: News
Local & National News
Today Google released its latest development in wireless technology, announcing it’s pay as you go wireless data service. The tech giant has teamed up with U.S carriers Sprint and T mobile to revival companies like At&T and Verizon, by offering customers the option to pay as you use. This simple means that when you use data for a YouTube video, or data to listen to Pandora that’s what you’ll be charged. Google is expected to launch this service soon. Currently it’s being said that Google is still in a testing phase for this new wireless service. If you can’t wait til the full launch of this service go out and get yourself the Good Nexus 6 smartphone.
The SBDC (Small Business Development Center) offers FREE business consulting in Jacksonville Florida at the UNF Herbert University Center. They provide free consulting to small businesses in all stages of business.
The stages that the SBDC serve are:
Established & Growing Businesses
Visit the SBDC online at by clicking HERE | 904.620.2476
12000 Alumni Dr Jacksonville, Florida 32224
UNF Herbert University Center
Are you interested in learning Linux? Well soon enough our Jacksonville Public Library will be hosting a free computer class. This free computer class will be an introduction to Linux. The event will be held at the Main Library on December 28th @ 1:30pm . No RSVP is required just show up and be ready to learn. I definitely will be attending this event so that I can add to my working knowledge of computer software. Don’t meet me there, beat me there. For more detailed information click here
Happy Birthday, America! This star-spangled celebration features the First Coast’s most spectacular 4th of July fireworks display over the St. Johns River. You have to see it to believe it!
Fireworks can be viewed from the Northbank and Southbank of the St. Johns River. The fireworks show will also be choreographed to a special patriotic soundtrack which can be heard on the Northbank and Southbank.
Boat Docking & Anchoring
- Docking on the Northbank and Southbank and at the Metropolitan Park Marina is first-come, first-served in areas not marked as closed.
- Docking is allowed for a maximum of 72 hours.
- No anchoring between the Main and Acosta Bridge.
- No anchoring west of the School Board Building to the Main Street Bridge.
- No open flames or open flame grills allowed on boats at or on city dock.
- No swimming in the marina or around the city docks.
- For more information, contact the City Dockmaster: (904) 630-0839 or firstname.lastname@example.org.
For more information on the Fourth of July Celebration in downtown Jacksonville, call (904) 630-3690 or e-mail email@example.com
Mayor John Peyton helped launch “Read It Forward Jacksonville” at Matthew Gilbert Middle School, Tuesday, June 7. A reading initiative aimed at raising the literacy rate for students throughout Duval County, the project will involve partnerships between the Duval County School Board, the City of Jacksonville and business and community leaders to help teach Jacksonville’s children about the importance of reading.
Back to the drawing board, boys and girls.
Plenty of big investors who hastily decided last September that it was time to pull out of the emerging markets due to worry that the vaunted growth in those areas was decelerating are now reformulating their strategy and recalibrating their portfolios. It’s back to the future – to the markets where future strong growth is clearly visible based on their still brisk economic advance.
With the U.S. major stock market indexes falling hard since early May, most of the large institutional investors, spooked by the slowdown in the economic recovery, have refocused their sights toward markets where growth has defied gravity: the emerging countries, specifically Brazil, Chile, Hong Kong, Peru, Uruguay and Singapore.
Most of the developed markets, mainly the U.S. and Europe, are deeply immersed in debt which has hampered the global economic recovery. The emerging countries, on the other hand, are generally less burdened by debt. And the big companies in the emerging markets generally have solid balance sheets and are much less levered than their peers in the developed markets.
Indeed, if only for these reasons, “the emerging markets should be where investors should place their investment bets now,” says James D. Awad, managing director of Zephyr Management, a global private equity and marketable securities outfit based in New York and operates offices in the U.K., India, and Africa.
Awad notes that emerging markets represent 80% of the world’s population, 70% of foreign exchange reserves, and 53% of GDP, but only 12% of the world’s equity market capitalization. That means the emerging markets have significantly more room to grow in the world markets, says Awad.
This is one reason why Zephyr, which specializes in the creation and management of highly focused and value-added investment funds in the emerging markets, is highly optimistic about opportunities in the developing countries. Since its founding in 1994, Zephyr has sponsored 22 investment funds representing about $1.9 billion in capital commitments in the emerging markets.
According to the International Monetary Fund, emerging markets are expected to contribute over 50% of global GDP by 2014, and will continue to be the paramount engine for secular global growth.
“A fast growing population and GDP growth are among the dominant factors boosting the emerging markets’ advance,” says Awad. And expectations are the population and GDP growth in these countries will eclipse those of the developed world, resulting in rapid urbanization and expansion of the middle class in the emerging markets, says Awad.
Zephyr predicts that rising incomes and the emergence of a stronger new middle class in the emerging countries will substantially increase demand for goods and services. “And this is where the growth opportunities will be,” says Awad, which aren’t now in evidence in the developed markets. The developing countries’ GDP as a percentage of global GDP is expected to reach 51% in 2014, up from 36% in 1980. With that kind of a brisk advance in its GDP, “we believe the emerging markets will be the key driver of global economic growth over the long term,” says Awad.
THE RISE OF A STRONG MIDDLE CLASS
So how should an investor play the opportunities in the emerging markets?
First of all, don’t hastily jump into the ETFs (Exchange Traded Funds), and also don’t chase individual stocks trading in the extremely volatile markets in China and India. Here’s why:
Be aware that not every country in the emerging or developing markets are necessarily enjoying rapid growth. So by buying into the emerging-market ETFs, you could end up being invested in some of the slow growth countries. Worse, you could end up tying up your money in countries where corruption is rampant, or where a country’s politics or policies are subversive or engender violence.
So investors would be better off going with mutual funds that specifically invest in growth opportunities in Latin America and Asia.
Two of the major mutual funds that focus directly on the emerging markets are the Lazard Emerging Markets Portfolio Open Shares (LZOEX), now trading at $21.83 a share, and Lazard Emerging Markets Portfolio Institutional Shares (LZEMX), selling at $21.46.
In Latin America, investors should go for mutual funds that are directed towards investing in assets with great value potential in Brazil, Chile, Columbia, Peru and Uruguay, according to some pros.
In Africa and India, however, the experienced investment managers who focus on the international markets put their money in private equity capital groups usually organized and launched by large U.S. investment institutions, rather than invest in mutual funds.
In India, in particular, even the experienced and sophisticated investors could lose their shirts because of the extreme volatility in its markets. “Hot money” dominates in India’s markets and drives the up-and-down zigzags of the market. A similar situation is happening in China, where the market’s volatility poses great risks for investors.
In Asia, many global investors are investing in such conglomerates as Jardine Holdings in Singapore, which is a part of the vast Jardine Matheson in Hong Kong; Swire Pacific, a unit of the huge conglomerate Swire Group, which owns such assets as Cathay Pacific Airways and Swire Properties; and Oversea-Chinese Banking, Singapore’s second largest lender.
Investing in these companies, some pros argue, would let you participate in the growth areas in Asia, including China.
But for investors who absolutely want to play it safe, the smart way might be to snap up shares of U.S. multinational companies whose revenues come mostly from their operations in the emerging markets. Among such companies are McDonald’s (MCD), Caterpillar (CAT), Ford (F), Intel (INTC), and Microsoft (MSFT).
President Barack Obama said business partnerships with the nation’s community colleges can help prepare workers for future manufacturing jobs, lowering the nation’s unemployment rate while spurring economic growth.
“Lighting a spark, that’s what community colleges can do,” Obama said today at Northern Virginia Community College in Alexandria, a Washington suburb. “We’ve got to light more sparks all across America.”
The president is promoting a $2 billion government program that tailors community college classes to local manufacturing job-skill needs that he said will train about 500,000 young workers over the next five years in 30 states.
The administration says job training can be one tool to reduce the unemployment rate, which rose to 9.1 percent in May, up 0.1 percent. Only 1.8 million of the more than 8.7 million jobs lost since January 2008 have been regained as the U.S. has recovered from the worst recession since the 1930s.
“The goal is to make sure your degree helps you to get a promotion, or a raise or a job, and that’s especially important right now,” Obama told students and officials at the college. “We’ve got to do everything we can, everything in our power, to strengthen and build the middle class.”
Before his remarks, Obama toured a diagnostics repair center for hybrid vehicles, one of two such facilities for electric cars in the U.S.
Defending Budget Priorities
With Republicans in Congress demanding budget cuts, Obama defended government spendingon education and clean energy, even with the nation’s deficit forecast to exceed $1 trillion this fiscal year and next.
“We could decide, in solving our fiscal problems, that we can’t afford to make any of these investments,” he said. “I don’t accept that future for the United States of America.”
Vice President Joe Biden is leading negotiations with congressional Republicans on a $1 trillion deficit-reduction package to be considered along with raising the nation’s $14.3 trillion debt ceiling by the beginning of August.
Administration officials said in a briefing yesterday that two new elements will add impact to the job training program originally announced Oct. 4, 2010, with the backing of the Aspen Institute and a unit of the National Association of Manufacturers.
The first is the addition of more companies, groups or foundations offering support by having executives join a board overseeing the program. They include Greg Brown, chairman and chief executive of Motorola Solutions Inc.; Bill Green, chairman of Accenture Inc., and Penny Pritzker, a supporter of Obama and chairman and chief executive of Pritzker Realty Group ofChicago.
Brad Keywell, co-founder and director of Groupon Inc., is joining the board along with Nick Pinchuk, chief executive of tool company Snap-on Inc. (SNA), and David Zaslav, chief executive of Discovery Communications.
Ellen Alberding, president of the Chicago-based Joyce Foundation, and Walter Bumphus, president and chief executive of the American Association of Community Colleges also are joining the board, the White House said in a statement.
“We’re going to have to have all hands on deck,” Obama said.
The second effort bolstering the program is agreement by companies and manufactures to develop a “manufacturing skills certification program,” a kind of universally accepted credential that affirms that a graduate has a specific set of skills.
The goal is to win adoption of the certification program at 200 community colleges, according to the White House.
U.S. manufacturing employs about 11 million Americans, the White House said in a fact sheet.
“We haven’t been as attentive to the manufacturing sector as we should have,” Ron Bloom, White House adviser on manufacturing policy, said in a briefing for reporters. While the nation needs scientists and engineers, “we also need skilled blue-collar workers” who “make things with their hands.”
“The skills of your workforce are one of the central pillars of a competitive company,” Bloom said.
When companies relocate, 61 percent say the decision is influenced by the availability of a skilled workforce, Gene Sperling, director of the White House National Economic Council, told reporters.
“Listen, that old job is not coming back. Even if the plant re-opens, the skills that were required before are not what the skills are now,” John Silvia, chief economist at Wells Fargo Securities, said June 6.
“On the labor supply side, what we need are the skills, the skills that match the 21st-century workforce,” Silvia said on WBBR Radio’s “Midday Surveillance” program hosted by Tom Keene.
It seems as though we may be running low on IP addresses. You be the judge. Review article attached and let us know what you think.
Imagine if the world ran out of phone numbers. Mobile providers could issue no more smartphones, businesses could create no new call centers, and the public would be left fighting over and recycling a diminishing amount of existing phone numbers. “That’s a similar situation that we’re in on the Internet,” says Facebook’s Donn Lee, pointing out that the Web’s billions of IP addresses are about to hit its max.Lee is Facebook’s lead engineer on IPv6, or Internet Protocol version 6, the first new version of the Internet’s addressing system in decades, which will provide trillions and trillions more unique addresses on the Web. Every time you go online or print a document at work, you’re essentially dialing a unique number — called an IP address — to communicate with other devices and computer networks. It’s no different than visiting a friend: You might know the name of his apartment building, but you’ll need an address and zip code in order to locate it on a map. The Web works in the same way, but as the number of homes and businesses and devices connected to the Internet continues to increase exponentially, we’re rapidly running out of space online. And now it’s up to Internet giants such as Facebook, Google, and Yahoo to fix the problem before it’s too late.
The solution is simple to understand but difficult to implement. The original version of the Web’s addressing system, IPv4 (Internet Protocol version 4), had a shorter range of numbers — think a phone number with only, say, ten digits — that yielded roughly 4.3 billion available addresses or combinations. With IPv6, more digits are being added to that phone number, thus “increasing the number range,” Lee says. “The whole address is now 2^128, which is a huge, nearly infinite number.” According to one report, IPv6 will enable 340 trillion, trillion, trillion addresses. To transition to the upgraded system, however, IPv6 requires a big push from the Web’s biggest players, and on Wednesday, the first steps are being taking on World IPv6 Day, a 24-hour test to weed out any bugs and accelerate adoption, which some are calling the biggest experiment in the history of the Internet.
“We’re not switching to IPv6, we’re becoming bilingual: We’re continuing to support IPv4, but adding IPv6 compatibility,” Lee says. “It’s the first time it’s ever been done on global scale, with such huge participation around the world.”
The test marks a big transition on the Web from public to private initiative. In the 1970s, DARPA began funding research that would eventually lead to the creation of the first Internet Protocol address system. By the 1980s, DARPA rolled out the Internet to the public, with the fourth revision of the address system, IPv4, as its standard. Yet now, as IPv4 is all but tapped out, the solution to the problem won’t come from DARPA–the solution has fallen on the shoulders of big private tech companies. “World IPv6 Day was driven primarily by the large websites,” Lee says. “To my knowledge, there was no requests to the government to migrate to IPv6.”
Last summer, the ball started rolling at an IPv6 conference, when Google engineer Lorenzo Colitti began discussing a solution with Lee. “Lorenzo essentially had this idea that Google couldn’t turn on IPv6 by themselves, but if we could get a few of us to agree to turn it on at the same time, then we might be able to do it,” Lee recalls. “I went back back to Facebook and asked whether we could do this. After we talked it over, I called up Lorenzo, and said, ‘I think I can make this thing happen.’ And we thought we’d probably only need to add one more company. If any one pulled out, it would fall, like a three-legged stool. We essentially went to Yahoo and said, ‘Two of us are in, we need one more, can you be the third?'”
Tomorrow, as the World IPv6 Day test fires up, Facebook, Google, and Yahoo — traditionally competitors in the Internet landscape — will come together with hundreds of other major organizations to pool resources for a greater cause. “IPv6 is much bigger than any one company,” Lee says. “We felt that it was for the good of the Internet and future generations of the Internet.” Full article HERE
NEW YORK (CNNMoney.com) — In its latest move to jump start the sluggish recovery, the Federal Reserve announced it will pump billions into the economy.
The central bank will buy $600 billion in long-term Treasuries over the next eight months, the Fed said Wednesday. The Fed also announced it will reinvest an additional $250 billion to $300 billion in Treasuries with the proceeds of its earlier investments.
The bond purchases aimed at stimulating the economy — a policy known as quantitative easing — will total up to $900 billion and be completed by the end of the third quarter of 2011.
Ever since the Fed first signaled back in August that it was considering a second round of monetary stimulus, dubbed QE2, investors have been preoccupied with speculating on how much the Fed would buy.
Now the verdict is in, and is roughly in line with forecasts. Mainstream estimates had predicted a total between $500 billion and $1 trillion.
“It was all largely as expected,” said Calvin Sullivan, chief strategy officer at Morgan Keegan. “The markets are responding as one would expect.”
Stocks seesawed between gains and losses, as investors digested the news. The real surprise was in the bond market, where yields on the longer term 10-year and 30-year rose, after traders realized the Fed’s plan called for 91% of its purchases at shorter maturities than expected.
The Fed also reiterated its bearish view on the stalling economy, saying “the pace of recovery in output and employment continues to be slow.”
Amid sluggish consumer spending, businesses have been reluctant to hire and the economy has grown at a snail’s pace. At the same time, inflation is dangerously low, causing some economists to warn that the United States may even be flirting with deflation — a debilitating drop-off in prices and demand.
The Fed has already kept the federal funds rate, a benchmark for interest rates on a variety of consumer and business loans, at historic lows near zero since December 2008. The Fed said Wednesday that it would continue to hold the rate at “exceptionally low levels” for an “extended period.”
The federal funds rate is the central bank’s key tool to spur the economy and a low rate is thought to encourage spending by making it cheaper to borrow money.
When already low rates failed to get consumers and businesses to spend, the Fed decided to resort to the more unconventional tool of quantitative easing, to lower interest rates even further.
But critics of QE2, including some Fed members, believe that too much monetary stimulus might lead to runaway inflation that could derail the economy, or future asset bubbles that could endanger economic stability over the long term.
The most outspoken voting member of the Fed, Kansas City Fed President Thomas Hoenig, was once again the lone dissent among policymakers, saying he believed the risks of additional securities purchases outweighed the benefits.
Other opponents have argued that it simply won’t work. The Fed already made nearly $2 trillion in similar purchases during the Great Recession, and current low interest rates have not jolted spending, they say.
“I don’t think this is going to make any difference at all,” said Paul Ashworth, senior U.S. economist with Capitol Economics, who feels the plan is too small. “This is a slippery slope. Once you’re on it, it’s very hard to get off.”
He predicts a repeat of what happened with the first round of quantitative easing two years ago. The Fed initially announced a $600 billion program in November 2008, but then four months later, increased that to $1.8 trillion, when it wasn’t enough.