Thursday, April 12, 2012
Average Tenure of CEOs Declined to 8.4 Years
12 Apr 2012 15:00 Africa/Lagos
Average Tenure of CEOs Declined to 8.4 Years, The Conference Board Reports
NEW YORK, April 12, 2012 /PRNewswire/ -- The average tenure of a CEO declined to 8.4 years in 2011 from approximately 10 years in 2000, according to the 2012 edition of CEO Succession Practices, a new report by The Conference Board, the global business research and membership organization.
CEO Succession Practices documents and analyzes succession events for CEOs in S&P 500 companies in 2011. It includes historical comparisons with data from the last decade and a review of findings from a survey of general counsel and corporate secretaries at more than 330 U.S. public companies.
"The stronger independence and accountability of directors registered during the last decade and increased scrutiny from shareholders and activists might motivate corporate boards to be more inclined to dismiss a CEO who is performing below expectations," said Matteo Tonello, Managing Director of Corporate Leadership at The Conference Board and co-author of the report with Jason Schloetzer, Assistant Professor at the McDonough School of Business at Georgetown University, and Melissa Aguilar, a researcher in the corporate leadership department at The Conference Board. "In addition, the pressure of serving as the CEO of a large company in an increasingly competitive global marketplace could contribute to voluntarily shorter tenures, suggesting that CEOs are leaving on their own terms after fewer years in the position."
The lower-than-average tenure recorded in 2003 (7.4 years) may have been related to the U.S. recession following September 11, 2001, and an increase in widely publicized accounting scandals.
Following are some of the key findings described in the 2012 edition of the report. To access the report, visit www.conference-board.org/CEOsuccession2012.
CEO succession rate
In 2011, 55 CEOs in the S&P 500 left their post. The rate of CEO succession was 10.8 percent, consistent with the average number of annual succession announcements from 2000 through 2010.
Company performance and CEO age as determinants
The probability of CEO succession is higher following poor performance. In the 2000–2010 period, the succession rate of CEOs of poorly performing companies averaged 14.0 percent, ranging from a high of 21.2 percent to a low of 10.0 percent. In 2011, the succession rate of CEOs of poorly performing companies was consistent with the prior trend at 12.7 percent. The succession rate of CEOs of better performing companies varied from 6.5 percent to 11.6 percent during the 2000-2010 period, averaging, 9.7 percent. In 2011, the succession rate of CEOs of better performing companies was 10.3 percent.
The probability of CEO succession is also higher for CEOs who are at least 64 years of age. In the 2000–2011 period, the succession rate of CEOs who were at least 64 years old ranged from 29.0 percent to 9.4 percent (on average, 18.4 percent over the period), while the succession rate of younger CEOs ranged from 8.3 percent to 13.4 percent (on average, 10.1 percent over the period). The rate of CEO succession for younger CEOs is remarkably consistent across the sample.
CEO dismissal rates
CEO dismissal rates vary across the 2000–2011 period, ranging from a high of 40.0 percent in 2002 to a low of 16.2 percent in 2005 (on average, 28.2 percent for the period). Despite that variance, the rate of CEO dismissals for the 2000–2005 period, at 28.6 percent, is similar to the rate for the 2006–2011 period, at 27.9 percent. Since 2008, which roughly coincides with the beginning of the financial crisis, 28.6 percent of all succession events were associated with CEO dismissals.
Inside promotions and outside hires
Consistent with a continuing trend in the hiring of outsiders that has been recorded since the 1970s, 19.2 percent of successions in 2011 involved an outsider CEO appointment.
Joint election as board chairman
Only 19.2 percent of the 55 successions in 2011 involved the immediate joint appointment of an individual as CEO and chairman of the board of directors. Based on reviewed succession announcements, the majority of departing CEOs remained as board chairman for at least a brief transition period, typically until the next shareholder meeting.
"Anticipating a change in CEO and understanding the succession process can often be a challenge for market participants," said Jason Schloetzer. "Fifty percent of CEO succession announcements from S&P 500 companies in 2011 were effective immediately, while two-thirds of announcements fail to provide market participants with a clear window into the board's process of selecting the successor CEO."
"Interestingly, the tendency to appoint a seasoned executive as incoming CEO is related to firm performance," noted Melissa Aguilar. "The data shows better-performing companies appointed seasoned executives—those with tenure in the company exceeding 20 years—far more frequently than their poor-performing counterparts."
The printing of the report was possible thanks to the generous support of RHR International and Latham & Watkins LLP.
Source: CEO Succession Practices: 2012 Edition, Report # R-1492-12-RR, The Conference Board.
About the Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.
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Africa: Nigeria, One Year After Elections
12 Apr 2012 06:50 Africa/Lagos
Africa: Nigeria, One Year After Elections
WASHINGTON, April 12, 2012/African Press Organization (APO)/ -- Remarks
Johnnie Carson
Assistant Secretary, Bureau of African Affairs
As Prepared
Center for Strategic and International Studies
Washington, DC
April 9, 2012
A year ago today, Nigerians began casting ballots in the first of what would be four days of voting for legislators, governors, and a president. Tensions were high. Voting that had been scheduled one week earlier was abruptly canceled just hours before polls were to open. We did not know for certain whether months of careful election preparations would result in a process Nigerians considered fair and credible or a rerun of the deeply flawed 2007 presidential elections. Skeptics were everywhere; and many said good elections could not be held.
Nigerians had a different idea. They waited in line for hours. They stuck around after the polls closed to ensure that every ballot was counted. They monitored polling places and compilation centers by the thousands, and they sent text messages reporting any irregularities they observed.
The result was clear. Nigeria had conducted its most successful and credible elections since its return to multiparty democracy in 1999. Despite obvious imperfections, these elections have given the country a solid foundation for strengthening its democratic institutions in the years ahead.
As a witness to that historic occasion, I can vouch for the enthusiasm that Nigerians demonstrated towards these elections and their democratic rights. Civil society groups across the country were actively engaged in the process, and on election day, diverse groups, including the Federation of Muslim Women, the Nigerian Bar Association, and the Transition Monitoring Group, joined together in a massive election monitoring effort called Project Swift Count.
There was also a strong commitment on the part of the government to improve the electoral process. Months before the election, a new and highly regarded Independent National Electoral Commission chairman was named, and the Nigerian Government provided adequate funding to pay for the election process. The new INEC Chair – Professor Attahiru Jega – made a good faith effort to register as many voters as possible and to organize the elections in the shortest time frame.
The April 2011 elections were clearly another step forward in Nigeria's continuing democratization process, but more remains to be done to improve Nigeria's electoral procedures and more importantly to strengthen the country's democratic institutions and governance. because what happens in Nigeria affects us all – the United States, Africa, and the global community. We cannot run away from the facts. Nigeria is probably the most strategically important country in sub-Saharan Africa. At about 160 million people, Nigeria is home to over twenty percent of sub-Saharan Africa's population. It is the largest oil producing state in Africa, it is the fifth largest supplier of crude oil to the United States, and the tenth largest global producer. It is home to the sixth largest Muslim population in the world, and it's by far the largest country in the world with approximately equal numbers of Christians and Muslims. In the United Nations, Nigeria is the fifth largest peacekeeping contributing country in the world. And as the most influential and militarily powerful member of the Economic Community of West African States, Nigeria has played a key role in helping to resolve every major political and security dispute in West Africa from the Liberian and Sierra Leonian crises in the 1990s to the recent political problems in Guinea, Niger, and the Cote d'Ivoire, and I might add to that, Mali. Nigeria is a dominant economic and financial force across West Africa, and if Lagos State were an independent country its population would make it the eighteenth largest country in Africa and its economy would be well within the top twenty on the continent.
Nigeria is important and a lot depends on the Nigeria's success. That's why Secretary Clinton inaugurated the U.S.-Nigeria Binational Commission in 2010, providing the two countries with a high-level vehicle to work together on the most criticial issues we face. We have supported Nigeria's political and economic reforms and we have tried to be a useful partner as it addresses its social, economic, and security challenges. We have provided technical assistance to support reform in the power sector. We have taken a large energy trade mission to the country, and encouraged the swift passage of a strong petroleum industry bill that brings more transparency to the sector. We have recognized the importance of Nigeria's agriculture sector and supported Nigeria's comprehensive agriculture development plans. And in the health sector, we have committed over $500 million a year to the President's Emergency Plan for AIDS Relief, demonstrating how critical we consider Nigeria in the worldwide fight against HIV and AIDS. President Obama and Secretary Clinton both recognize the importance of this relationship and both have met with and engaged with President Jonathan on a number of occasions over the past three years. Later this week, Nigeria's vice president will be in Washington and he is expected to meet Vice President Biden in the White House and with senior officials in the State Department.
Nigeria's success is important to us; but we recognize that that success cannot be achieved unless Nigeria overcomes the challenges that have frustrated its progress. Decades of poor governance have seriously degraded the country's health, education, and transportation infrastructure. Despite hundreds of billions of dollars in oil revenue, Nigeria has virtually no functioning rail system and only half of its population has access to electricity. The 80 million Nigerians who have electricity share intermittent access to the amount of power equivalent to what we have in the Washington, DC metro area. Living standards for most Nigerians are the same today as they were in 1970, and nearly 100 million Nigerians live on less than one dollar a day.
Nigerians are hungry for progress and an improvement in their lives, but northern Nigerians feel this need most acutely. Life in Nigeria for many is tough, but across the North, life is grim. A UN study shows that poverty in the 12 most northern states is nearly twice that of the rest of the country. The health indicators reflect this. Children in the far north are almost four times as likely to be malnourished. Child mortality is over 200 deaths per 1000 live births, leading to lower life expectancy. Educational standards are just as bad. Literacy in the far north is 35 percent as opposed to 77 percent in the rest of the country. Seventy-seven percent of women in the far north have no formal education, compared to only 17 percent in the rest of the country. In northern Nigeria, primary school attendance is only 41 percent, while youth unemployment is extremely high. All of this contributes to joblessness and a deepening cycle of poverty.
The statistics are disturbing, but they are not the whole story. Poverty in northern Nigeria is increasing. Despite a decade in which the Nigerian economy expanded at a spectacular seven percent per year, the Nigerian National Bureau of Statistics estimates that extreme poverty is 10 percent higher than in 2004. It's even worse in the North. Income inequality is growing rapidly. These trends are worrying for economic, political, and security reasons.
While ninety-one percent of Nigerians across the country considered the April 2011 elections to be fair and transparent, most people in the far north backed opposition candidates that did not win. The post-election violence that occurred in several northern cities reflected strong dissatisfaction with elites who protestors thought controlled the election process. Public opinion polls and news reports suggest that there is a strong sentiment throughout the country, but especially in the North, that government is not on the side of the people; and that their poverty is a result of government neglect, corruption, and abuse. This is the type of popular narrative that is ripe for an insurgent group to hijack for its own purposes.
Which brings me to Boko Haram.
As you all know, over the last year Boko Haram has created widespread insecurity across northern Nigeria, increased tensions between various ethnic communities, interrupted development activities, frightened off investors, and generated concerns among Nigeria's northern neighbors. They have been responsible for near daily attacks in Borno and Yobe states. And they were behind the January 20 attack in Kano that killed nearly 200 people and three major attacks in Abuja, including the bombing of the UN headquarters last August. Boko Haram's attacks on churches and mosques are particularly disturbing because they are intended to inflame religious tensions and upset the nation's social cohesion.
Although Boko Haram is reviled throughout Nigeria, and offers no practical solutions to northern problems, a growing minority of certain northern ethnic groups regard them favorably. Boko Haram capitalizes on popular frustrations with leaders, poor government service delivery, and the dismal living conditions of many northerners. Boko Haram seeks to humiliate and undermine the government and to exploit religious differences in order to create chaos and to make Nigeria ungovernable.
Boko Haram has grown stronger and increasingly more sophisticated over the past three years, and eliminating the Boko Haram problem will require a broad-based strategy that employs the establishment of a comprehensive plan rather than the imposition of more martial law. While more sophisticated and targeted security efforts are necessary to contain Boko Haram's acts of violence and to capture and prosecute its leaders, the government must also win over the population by addressing the social and economic problems that have created the environment in which Boko Haram can thrive. The government must improve its tactics, avoid excessive violence and human rights abuses, make better use of its police and intelligence services, de-emphasize the role of the military, and use its courts to prosecute those who are found to be responsible for Boko Haram's kidnappings, killings, and terrorist attacks.
Nigerian officials should focus on the political environment that makes Boko Haram so dangerous. By demonstrating the benefits a pluralistic society has to offer, the government will deny Boko Haram and other extremists the ability to exploit ethnic and religious differences. The government should redouble their efforts to resolve ongoing disputes in Jos and other high violence flashpoints. By becoming more responsive to the people, the government can put distance between itself and the accusations that it is blind to the needs of everyday Nigerians.
Numerous northern civil society organizations have come out against Boko Haram – at great personal risk – that could multiply serious government efforts to address longstanding northern grievances. I want to stress that religion is not driving extremist violence in either Jos or Northern Nigeria. While some seek to inflame Muslim-Christian tensions, Nigeria's ethnic and religious diversity is a source of strength, not weakness, and there are many examples of communities working across religious lines to protect one another.
Containing and eliminating Boko Haram today will be much more difficult than it was four years ago, when it was under the leadership of it now deceased leader, Muhammed Yusof, who was killed in police custody. Today, Boko Haram is not a monolithic, homogenous organization controlled by a single charismatic figure. Boko Haram is several organizations, a larger organization focused primarily on discrediting the Nigerian Government, and a smaller more dangerous group, increasingly sophisticated and increasing lethal. This group has developed links with AQIM and has a broader, anti-Western jihadist agenda. This group is probably responsible for the kidnapping of westerners and for the attacks on the UN building in Abuja. Complicating the picture further is the tendency of some officials to blame Boko Haram for bank robberies and local vendettas that are carried out by common criminals and political thugs.
There are some who say that Boko Haram is comprised mostly of non-Nigerian foreigners, and that the group is being funded by a handful of resentful politicians nursing their wounds from the last election. This would be unfortunate if true, but I have not seen any evidence to support either of these theories.
To fix the Boko Haram problem, the government will have to develop a new social compact with its northern citizens. It will have to develop an economic recovery strategy that complements its security strategy. It will have to draw on the support of northern governors traditional Hausa and Fulani leaders and local officials and organizations. The Nigerian Government should consider creating a Ministry of Northern Affairs or a Northern development commission similar to what it did in response to the crises in the Niger Delta.
Northern populations are currently trapped between violent extremists on one hand and heavy-handed government responses on the other. They need to know that their president is going to extraordinary lengths to fix their problems.
Achieving this will not be easy. Although the problems are not the same, it has taken the central government in Abuja nearly ten years to bring the problems in the Niger Delta under some semblance of control. Resolving the problems in northern Nigeria will require the government to act more swiftly and to make a strategic course correction. It will need to adopt a comprehensive strategy and remain disciplined and committed in its implementation, especially at the state and local level where accountability is low and corruption high. all of whom have put a high premium on promoting sustained economic development, job creation, greater agricultural productivity, and more foreign investment. Given time and political support from the top, this team has the ability to shape and lead Nigeria's long term economic transformation.
The Nigerian Government has also taken a positive step in trying to address its long standing problem of corruption. Through two strategic appointments, the government has signaled that is once again going to try to get a handle on high-level corruption. For four years, we scaled back our technical assistance programs to Nigeria's Economic and Financial Crimes Commission (EFCC) because we did not believe the previous leadership was committed to reform. In November, President Jonathan appointed a new chairman to run the country's EFCC – the country's main anti-corruption agency. The appointment of Ibrahim Lamode to lead the EFCC gives us confidence that the high-level corruption that has hobbled the delivery of government services will be seriously addressed. President Jonathan's appointment of Nuhu Ribadu to oversee a commission to monitor and audit the government's vast oil and gas revenues is also a very promising sign. Before he was fired several years ago, Ribado earned a well-deserved reputation as Nigeria's most zealous prosecutor of high level corrupt officials. His return, like that of Ngozi and other economic reformers, should be taken as an indication of the promise and potential of getting it right. We hope these high performers will encourage others, like the Petroleum Minister Diezani Alison-Madueke, to accelerate key reforms, including the long awaited Petroleum Industry Bill.
There is also a bright side to be found in a number of statehouses across Nigeria, where governors are responsible for delivering most public services. A handful of governors embraced the challenges of their jobs and have made a real difference. The governors in Lagos, Edo, and Kano have demonstrated what strong, honest, and responsible leadership at the state level can accomplish.
We continue to use the U.S.-Nigeria Binational Commission as our primary vehicle for exchanging ideas and promoting engagement with Nigeria.
We want to elevate and expand our dialogue and are ready to work with Nigerian authorities at the national and state level and to expand our programs in states with high performing executives, particularly in northern Nigeria where the need is greatest. We are committed to helping Nigeria develop a comprehensive counterterrorism strategy and to improving collaboration among Nigeria's intelligence services. We want to support the Nigerian Government's efforts, especially in the areas of agriculture, electrical power generation and transmission, and anti-corruption. We sent a high-level energy trade mission to Abuja and Lagos in February to attract U.S. private investment in the energy field, and we would like to do something similar to highlight the opportunities that exist in agriculture and infrastructure – where we think we have something real to offer. The agricultural investment forum sponsored by the Corporate Council on Africa and the Nigerian Embassy starting tomorrow similarly aims to direct U.S. resources towards Nigerian development.
I am bullish on Nigeria. I have been ever since I served there as a young Foreign Service officer. There is no doubt that Nigeria's challenges are serious, but we should not underestimate the skill and ability of the Nigerian people and leaders to address them. I believe the forces that are holding Nigeria together are stronger today than the forces that are pulling Nigeria apart. Nigeria remains the giant in Africa, and I remain optimist about its long term future. By working with Nigeria, we can contribute to the country's economic growth and political unity – two objectives that are important to the United States, Africa, and the global community. A strong, vibrant, politically stable, and economically prosperous Nigeria is in everyone's interest. I hope you agree. Thank you.
Source: US Department of State
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Lagos Doctors Are Playing Politics With Innocent Lives
The cruel medical doctors on strike in Lagos State are just playing political games with innocent lives.
I defended them last year when they went on strike for good reasons, but I am totally against their strike this time, because they are just holding the Lagos State government to ransom.
The Lagos State government should send for Cuban doctors who are even better than these group of unreasonable Nigerian doctors and more faithful to The Hippocratic Oath than these Lagos doctors of the so called Medical Guild. Please, let Cuban doctors take over.
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Wednesday, April 11, 2012
$300 Mobile Voucher for New BMW 3 Series Through Ultimate Drive Smartphone App
The Ultimate Drive App from BMW Financial Services can now direct its customers to a test drive of the new BMW 3 Series with a $300 voucher redeemable on the first lease payment or loan payment on a 2012 BMW 3 Series sedan.
$300 Mobile Voucher for New BMW 3 Series Offered to BMW Financial Services Customers Through Ultimate Drive Smartphone App
Woodcliff Lake, NJ, April 11, 2012 /PRNewswire/ — The Ultimate Drive App for the iPhone and Android devices (www.ultimatedriveapp.com or www.facebook.com/BMWUSA?sk=app_199134910131531 ) can now lead BMW Financial Services customers to not only some great roads across the U.S., but today through June 30, 2012 it can lead to a BMW dealer, a test drive and a $300 credit towards the first payment on a new 2012 BMW 3 Series.
“This is a simple thank you to our loyal BMW Financial Services customers while at the same time demonstrating the inclusive nature of the Financial Services community as shown by our Ultimate Driving App,” explained Ed Robinson, CEO and president of BMW Financial Services. “The iPhone and Android-device application, which can be linked to a BMW Financial Services customer’s account, has been providing a forum to share and discover great roads and keep up-to-date on the latest BMW news since its introduction in August 2011.”
“Now we’ve added something special for the BMW Financial Services customer with this unique $300 offer on their first payment towards a 2012 BMW 3 Series which is completely handled through the app, the next step in our spreading the functionality of our mobility programs.”
Obtaining the $300 voucher towards the first payment on the new 3 Series is simple:
1. BMW Financial Services customers download or upgrade to the latest version of the Ultimate Driving App through the iTunes App Store or Android Market.
2. After a brief login, BMW Financial Services customers can schedule a test drive. The app first suggests their current BMW dealer, but they can select others from a map. The app can automatically generate a personalized email to the dealership or they place a call directly.
3. After the test drive, the customer confirms which BMW Center they visited, enters the BMW Client Advisor’s name, and can optionally take a picture of themselves in the new 3 Series. Instantly, the app unlocks a unique $300 “Mobile Voucher,” which can be redeemed upon financing of a 2012 3 Series by June 30, 2012.
“What is exciting for our customers is the immediacy of it all,” said Pawan Murthy, General Manager of Online Business. “You don’t need to wait for a printed coupon to be mailed to you nor do you have to call a toll-free number. We want to reward our customers for their loyalty through the one tool that is always with them: their phone.”
In addition to this popular smartphone app, the Ultimate Drive has a fast growing community on Facebook and Twitter (facebook.com/ultimatedriveapp and @UltimateDriveFS).
“We are constantly looking to make all of our mobility apps and social media programs easier to use, more informative and more fun. As a company, we pride ourselves on our ongoing use of technology to build stronger relationships with our customers, “added Robinson. “The Ultimate Drive app has allowed us to broaden our awareness as an organization to a vast audience, but more so, it provides us the ability to recognize a community of our BMW customers in our daily effort to turn them into fans.”
The Ultimate Drive app was jointly developed by BMW Financial Services and San Francisco based firm, SocialNav, Inc. Additional details about the app and offer can be found at www.ultimatedriveapp.com.
About BMW Group Financial Services
BMW Group Financial Services was established in the U.S. in 1992 to support the sales and marketing of BMW products. Since then, the Group has expanded to provide service to markets in multiple countries and continues to evolve beyond its role as a captive finance unit.
BMW Group Financial Services offers a wide range of leasing, retail and commercial financing and banking products tailored to meet the needs of the BMW customer. The Group also provides financing to BMW dealers for expanding dealership capabilities and enhancing overall operations. With more than $34 billion in serviced assets and 1,000,000 automotive lending customers across the U.S., Canada and Mexico, BMW Group Financial Services finances almost three-quarters of the BMWs sold or leased in North America. BMW Group Financial Services employs more than 800 people, including consultants and temporary workers, most of whom are located in the Hilliard, Ohio Regional Service Center which serves the U.S., Canada and Mexico.
In 2001, the MINI Financial Services division was established to provide support for the brand’s dealer and customer networks by offering various financing and leasing options. Alphera Financial Services was established in 2006 to provide financial services to dealers who are not part of the BMW and MINI networks.
BMW Group Financial Services also offers credit card products through its subsidiary, the BMW Bank of North America. up2drive.com is a division of BMW Bank of North America, a wholly-owned subsidiary of BMW Financial Services NA, LLC. BMW Insurance Agency, Inc., a property and casualty producer, is also part of BMW Group Financial Services.
Information about BMW Group products is available to consumers via the Internet at:
www.bmwgroupna.com
www.bmwusa.com
www.bmwmotorradusa.com
www.miniusa.com
www.rolls-roycemotorcars.com
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The Africa Express Project - Sustainable Energy For All
The Africa Express project - Sustainable energy for all
PARIS, April 11 2012/African Press Organization (APO) / - The Ministry of Foreign and European Affairs supports Africa Express mission study of 20 sustainable energy projects in Africa.
As part of the framework of the International Year of sustainable energy for all and especially supported by the United Nations Environment Programme (UNEP), it is led by two French, Claire Guibert and Jeremy Debreu.
The mission, which begins in April and will last 10 months, will leave Paris by train to connect the Cap, through Tangiers and back up along the rift to Cairo. A total of 20 000 km will be traveled by train and 23 countries will be visited: Morocco, Mauritania, Senegal, Gambia, Mali, Ivory Coast, Burkina Faso, Benin, Gabon, Congo, Democratic Republic of Congo, Zambia, Botswana, Africa South Africa, Zimbabwe, Tanzania, Kenya, Uganda, Ethiopia, Djibouti, Eritrea, Sudan, Egypt.
In return, a White Paper of good practice for energy experts (project sponsors, donors) will be published and made freely available. A documentary and a series of short programs will bring a dimension "general public" to the mission.
The diplomatic network, and cultural cooperation MAEE facilitate the administrative procedures of the two missionaries and organization, as they pass, lectures and discussions on this study mission, especially on the theme in various energy networks (universities, associations, communities ...).
Source: France - Ministry of Foreign Affairs
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INRIX Powers the Largest Driving Community in the World
Real-Time Traffic in L.A. in INRIX Traffic App on BlackBerry. (PRNewsFoto/INRIX)
11 Apr 2012 15:00 Africa/Lagos
INRIX Powers the Largest Driving Community in the World
- INRIX Traffic information Powers Navigation Services from 20 Automakers Worldwide; Four of the Leading OEMs Shipping Breakthrough Two-Way Connected Navigation
- INRIX's Traffic Intelligence Platform Taps Big Data to Drive Breakthroughs Across Automotive, Mobile and Public Sector Markets
KIRKLAND, Wash., April 11, 2012 /PRNewswire/ -- INRIX, the leading provider of traffic information and connected driver services, announced the number of customers across its automotive, mobile and public sector businesses has doubled in the last year establishing the company's crowd-sourced traffic network as the largest in the world.
(Photo: http://photos.prnewswire.com/prnh/20110722/SF39847-b)
In the last 12 months, INRIX signed deals with more than 50 new customers and launched traffic services for next-generation two-way connected navigation with Toyota as well as Audi and BMW in Europe. As the automotive and mobile markets converge, the company's collaboration with Ford expanded to include development of Ford SYNC Destinations -- the first smartphone app offering drivers reliable traffic forecasts and the ability to send future destinations directly from their phone to their car.
"INRIX is the fastest growing traffic intelligence platform in the world," said Bryan Mistele, INRIX President and CEO. "We are setting the standard for leveraging Big Data to solve transportation issues worldwide."
According to research based on INRIX data just published by the U.S. Treasury Department(1), traffic congestion accounted for 1.9 billion gallons of wasted fuel last year — at a cost of $7 billion to drivers. INRIX's efforts focused on applying its expertise in "Big Data" and proprietary analytics technologies to the problems of traffic congestion are resulting in breakthroughs designed to reduce the economic, environmental and individual toll of gridlock. Additional INRIX momentum includes:
Automotive: INRIX's real-time traffic information is used by 20 automakers worldwide. In addition to Ford, next generation two-connected navigation systems from Audi, Toyota and BMW Europe debuted with customized INRIX traffic intelligence and connected driver services. With gas prices soaring worldwide, Audi owners benefit from INRIX's fuel price services for navigation to the closest, least expensive gas station.
Mobile: Eight of the top 12 grossing iPhone navigation apps with traffic in North America including ALK, Garmin, MotionX, NAVIGON and TeleNav are powered by INRIX. In Europe, INRIX traffic intelligence fuels mobile apps from Bosch, Garmin, NAVIGON, Sygic and Telmap. The company's INRIX Traffic App is one of the Top 10 most used navigation apps and the only traffic app that integrates with JVC and Pioneer's in-car multi-media receivers.
Public Sector: Twenty-five U.S. State Departments of Transportation are using INRIX traffic information in their daily operations, traveler services or congestion performance measures. In 2012, new projects in Virginia and Ohio in North America as well as England, Scotland, Germany and Austria are using INRIX traffic data and analytics to drive insight that helps them build manage and measure the performance of their road networks at less cost. In the largest ongoing test of traffic information in the world, INRIX has been proven to deliver better coverage at 25 percent of the per mile life cycle cost(1) with the added ability to reduce user delay costs by up to $100K per incident. (2)
The company further expanded its customer base, coverage and technical expertise through the acquisition of leading European traffic provider ITIS Holdings.
About INRIX
INRIX operates the largest global traffic intelligence platform in the world, delivering smart data and analytics to solve transportation issues worldwide. INRIX crowd sources data daily from approximately 100 million vehicles and devices to deliver traffic and driving-related insight, as well as sophisticated analytical tools and services, across six channels in 30 countries.
With more than 200 customers and partners including Audi AG, ADAC, ANWB, BMW, the BBC, Ford Motor Company, the I-95 Coalition, MapQuest, Microsoft, NAVIGON, Nissan, O2, Tele Atlas, Telmap, TeleNav, Toyota and Vodafone, INRIX's real-time traffic information and traffic forecasts help drivers save time every day. To experience the traffic technology revolution behind the next generation of transportation, navigation and location-based service applications, visit www.INRIX.com.
(1) Source: Vehicle Probe Project One-Pager, July 2010, http://cot.ag/9QMzF2
(2) In 2008, INRIX helped U.S. traffic operations staff in New Jersey identify and respond to a serious accident on a stretch of I-80 during a surprise October snowstorm that previously wouldn't have been visible using their CCTV system. Even with traffic data refreshing at a rate slower than the Highways Agency's 50 second target, New Jersey's Department of Transportation estimates the expedited response to the second incident translated into $100,000 in user delay cost savings. Source: Vehicle Probe Project Benefits White Paper, August 2010 http://cot.ag/9QMzF2
SOURCE INRIX
CONTACT: Jim Bak of INRIX, +1-425-284-3825, jimb@inrix.com, or Jillian Ivey of Hotwire PR North America, +1-215-806-2951, Jillian.ivey@hotwirepr.com, for INRIX, or Claire Barson of Hotwire PR Europe, +44 (0) 20 7608 4639, Claire.barson@hotwirepr.com, for INRIX.
Web Site: http://www.inrix.com
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"What Black Men Think," Première @ Black Documentary Cinema in May
Documentary Channel Examines Race Issues With the Premiere of "What Black Men Think," Part of Black Documentary Cinema in May 2012
An In-Depth View of the Myths, Stereotypes and Misrepresentations About African American Men, Featuring Interviews with Dr. Steve Perry, Joseph C. Phillips, Michael Steele, and More
NASHVILLE, Tenn., April 11, 2012 /PRNewswire/ -- Documentary Channel (DOC) is proud to announce the US television premiere of director Janks Morton's award-winning documentary film "What Black Men Think" on Tuesday, May 29 (8p ET/PT), part of Black Documentary Cinema. The film will also be made simultaneously available for online streaming at documentarychannel.com. A searing examination of the role that myths, stereotypes and misrepresentations have played in the lives of modern black men, "What Black Men Think" is an eye-opening look at the race issues that are still very prevalent in the United States today.
"What Black Men Think" explores how negative imagery in the media, the failed policy of the Great Society, and a modern black leadership that has abandoned many of its historically unifying tenets have all led to a new form of mental slavery in the black community. The film features commentary and insights from key black leaders, media personalities, activists and educators such as Dr. Steve Perry, actor Joseph C. Phillips, Former Republican National Committee Chair Michael Steele, author Darryl James and more.
In a time when questions of race and racially motivated violence still populate the headlines, "What Black Men Think" explores the issues from the inside, offering a unique glimpse into the minds of America's black men to reveal a powerful, enlightening, empathetic portrait of African Americans, and suggests we all reconsider the many misconceptions still so prevalent today.
Documentary Channel is primarily available through satellite television services DISH Network (Channel 197) and DIRECTV (Channel 267).
About Documentary Channel®: Documentary Channel (DOC) is the USA's first 24-hour television network exclusively devoted to documentary films and the independent documentary filmmaker, providing viewers with round-the-clock opportunities to see fascinating, eclectic and award-winning documentary films of all lengths and genres. For more information on DOC, visit the network website at www.documentarychannel.com, in addition to www.facebook.com/DocumentaryChannel or www.twitter.com/doc_channel.
MEDIA CONTACT:
Ashley Sandberg
Triple 7 Public Relations, LLC
347.735.6480 | Ashley@triple7pr.com
SOURCE Documentary Channel
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Eunice Olumide: Nigeria's Super Star on the Runway and Silver Screen
Fast rising Nigerian model and actress Eunice Olumide is a 23-year-old ambitious young woman who is already walking tall as one of the top black models in the UK.
She may not be as popular as her fellow Nigerian supermodel Oluchi Onweagba, but she is definitely more ambitious with her own fashion collection and a role in Hollywood super star Brad Pitt's movie World War Z, an upcoming post-apocalyptic horror film based on the bestselling novel of the same title by Max Brooks, which was filmed in Glasgow in 2011 and will be released in June, 2013.
“I played an office worker. Brad was really friendly, ” said Eunice.
Eunice, who starred in the recent BBC Two series Scots Scuil, is also a talented rapper and MC and last year supported Bob Marley’s son Damian at Glasgow’s O2 Academy.
“I have been rapping for years with my brother Abraham and together we are Northern Xposure.”
Eunice is the daughter of Victoria Monie who moved from Nigeria to Scotland where she and and her rapper brother Abraham were born and raised in Edinburgh.
“My mum was heavily pregnant with me when my dad was posted to Scotland. She came over too and loved it so much the whole family stayed.
“We lived in Wester Hailes and Calder in Edinburgh. It was tough and we used to get a hard time.
Eunice has made the covers of magazines in Paris and New York.
“We had darker skin than anyone they had ever seen.
“It was a rough area with a lot of drugs. You either get sucked in or you worked hard to get out.
“That’s what my brother and I did.”
Eunice, who has been shortlisted for the Scottish Fashion Awards Model of the Year twice, was spotted shopping in Sauchiehall Street, Glasgow, at 15.
Since then she has become one of Scotland’s busiest models, signed to top agency Colours.
Now the talented seamstress looks set to conquer the fashion world with her dazzling designs.
“When I was starting out, it was difficult to get the bread-and-butter jobs the other girls were getting,” She told Heather Greenaway of the Daily Record.
Eunice
"A Touch of Whimsy" photographed by Cristina Carra Caso
Photography by Cristina Carra Caso at www.cristinacarracasophotography.com (assisted by Matt Schofield)
Makeup by Jay Millar
Hair by Laura Toon
Styling by Laura Villaneuva
Modelling by Eunice Olumide (Colours Modeling Agency)
Posted on: Feb 1, 2012
“People were not used to working with such a dark-skinned model and I had to work 10 times harder to get basic jobs.
“Things have changed a lot in the last few years and agencies have more black models on their books, especially in Scotland.
“But it is still rare to see a very dark-skinned model on the cover of a magazine. I’d love that to change.”
“It’s time for people to be fearless and hire women of colour for shoots as society is becoming more and more multicultural.
“Even today the black models and singers who are making it are lighter-skinned – look at Rihanna, Beyonce and Leona Lewis.
“X Factor singer Alexandra Burke is one of the first musicians with really dark skin to be celebrated for her beauty, which is brilliant.
“When someone asks you to name a black supermodel, Naomi Campbell and Tyra Banks are the only ones who come up but there are dozens just waiting to be given their big break.”
Eunice, who goes into schools to teach children confidence through rapping, added: “I enjoy giving something back to the community.
“Creativity comes through necessity, hence the reason I’m the person I am today.”
Eunice, who studied media at Glasgow Caledonian University, came up with the idea for her Scots-African collection while visiting family in Nigeria.
She said: “After my mum had a stroke, she wanted to visit her relatives in Nigeria. I sketched a few ideas while sitting under a tree on the plains of Africa and my mum encouraged me to buy material and make the clothes.
“A few weeks later I returned to Scotland with my first collection and everybody loved it.
“I’ve tried to combine African patterns with British tailoring as a tribute to my love of my two home countries – Scotland and Nigeria. I hope to start producing my styles on a larger scale.
“At the moment I am still creating all the pieces myself and selling them from my website.”
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What Facebook's Instagram Deal Means for the Market
NEW YORK, April 10, 2012 /PRNewswire/ -- Investor Uprising, the individual investor's no-nonsense resource for global business trends and investment ideas, has weighed in on the Facebook-Instagram deal.
Facebook announced Monday that it was buying photo-sharing application Instagram for $1 billion in a mix of cash and stock. Investor Uprising Editor in Chief R. Scott Raynovich says the sky-high valuation for the two-year old company will pose risks to large public Internet companies such as Google (Nasdaq: GOOG) and Facebook, which are increasingly competing with faster startups and must now pay to acquire more of them.
"You mean to tell me that you are the most powerful social-networking company in the world, and you can't come up with a better photo-sharing app than 12 hackers in pajamas?" wrote Raynovich in his regular IU blog. "If a garage full of coders can beat Facebook with a photo-sharing app in two years, does that mean there might be more risk in the social-networking market than people think? Yes."
The blog points out that Facebook is spending $1 billion to defend itself against a tiny startup, and that odds are companies such as Google and Zynga (Nasdaq: ZNGA) may follow the trend of spending huge sums to scoop up startups offering innovative features.
In addition to publishing contributed market commentary by journalists and investment professionals, Investor Uprising regularly produces FREE, original, in-depth reports aimed at informing the self-directed investor. To register for the complimentary reports and to participate in topical conversations with our expert bloggers, visit Investor Uprising at http://www.investoruprising.com/register.asp.
Investor Uprising is operated by UBM plc and is sponsored by PR Newswire. The site, as well as the "My News" feature on PRNewswire.com and monthly virtual Retail Investor Conferences (www.retailinvestorconferences.com), represents PR Newswire's strategy to facilitate engagement between the individual investor community and public companies.
About Investor Uprising
Twitter @InvestUprising
Investor Uprising is the individual investor's no-nonsense community for accessing business trends and investment strategies. Combining expert market commentary, fundamental analysis, and on-the-ground reporting, Investor Uprising helps the reader find the best investment opportunities in global markets. Sponsored by PR Newswire and operated by UBM plc, Investor Uprising's community of contributors reaches millions of potential business readers around the world.
Media Contacts:
R. Scott Raynovich
Editor in Chief, Investor Uprising
(406) 582-5886 direct
(406) 223-2884 mobile
Scott.Raynovich@investoruprising.com
Noreen Seebacher
Community Editor, Investor Uprising
(201) 360-6773
Noreen.Seebacher@investoruprising.com
SOURCE Investor Uprising
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Cybornetics Trailer Release This Friday the 13th at 8PM!
Cybornetics Trailer Release This Friday the 13th at 8PM!
360 Sound and Vision will release its trailer for Cybornetics this Friday the 13th at 8PM Eastern time. Cybornetics, a new independent original science fiction movie about a group of scientists who transform a young man into a cyborg, is the much anticipated 2nd feature film written and directed by emerging artist, Dwayne Buckle.
360 Sound and Vision is an independently owned film distribution company located in Tribeca, New York City, which specializes in African-American Drama, Action, Science Fiction, Thriller and Fantasy based films, bringing a diversified niche to Black programming…that people from all races can enjoy.
The movie starring, Justiin A. Davis (Boardwalk Empire), James Rich, and Raw Leiba (Limitless), explores mankind's quest to merge with his technology.
Go to www.cybornetics.net this Friday and catch a first time glimpse of this much anticipated movie which will be released this June.
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