Materials engineered to give off precisely tuned wavelengths of light when heated are key to new high-efficiency generating system.
A new photovoltaic energy-conversion system developed at MIT can be powered solely by heat, generating electricity with no sunlight at all. While the principle involved is not new, a novel way of engineering the surface of a material to convert heat into precisely tuned wavelengths of light — selected to match the wavelengths that photovoltaic cells can best convert to electricity — makes the new system much more efficient than previous versions.
The key to this fine-tuned light emission, described in the journal Physical Review A, lies in a material with billions of nanoscale pits etched on its surface. When the material absorbs heat — whether from the sun, a hydrocarbon fuel, a decaying radioisotope or any other source — the pitted surface radiates energy primarily at these carefully chosen wavelengths.
Based on that technology, MIT researchers have made a button-sized power generator fueled by butane that can run three times longer than a lithium-ion battery of the same weight; the device can then be recharged instantly, just by snapping in a tiny cartridge of fresh fuel. Another device, powered by a radioisotope that steadily produces heat from radioactive decay, could generate electricity for 30 years without refueling or servicing — an ideal source of electricity for spacecraft headed on long missions away from the sun.
According to the U.S. Energy Information Administration, 92 percent of all the energy we use involves converting heat into mechanical energy, and then often into electricity — such as using fuel to boil water to turn a turbine, which is attached to a generator. But today's mechanical systems have relatively low efficiency, and can't be scaled down to the small sizes needed for devices such as sensors, smartphones or medical monitors.
"Being able to convert heat from various sources into electricity without moving parts would bring huge benefits," says Ivan Celanovic ScD '06, research engineer in MIT's Institute for Soldier Nanotechnologies (ISN), "especially if we could do it efficiently, relatively inexpensively and on a small scale."
It has long been known that photovoltaic (PV) cells needn't always run on sunlight. Half a century ago, researchers developed thermophotovoltaics (TPV), which couple a PV cell with any source of heat: A burning hydrocarbon, for example, heats up a material called the thermal emitter, which radiates heat and light onto the PV diode, generating electricity. The thermal emitter's radiation includes far more infrared wavelengths than occur in the solar spectrum, and "low band-gap" PV materials invented less than a decade ago can absorb more of that infrared radiation than standard silicon PVs can. But much of the heat is still wasted, so efficiencies remain relatively low.
An ideal match
The solution, Celanovic says, is to design a thermal emitter that radiates only the wavelengths that the PV diode can absorb and convert into electricity, while suppressing other wavelengths. "But how do we find a material that has this magical property of emitting only at the wavelengths that we want?" asks Marin Soljačić, professor of physics and ISN researcher. The answer: Make a photonic crystal by taking a sample of material and create some nanoscale features on its surface — say, a regularly repeating pattern of holes or ridges — so light propagates through the sample in a dramatically different way.
"By choosing how we design the nanostructure, we can create materials that have novel optical properties," Soljačić says. "This gives us the ability to control and manipulate the behavior of light."
The team — which also includes Peter Bermel, research scientist in the Research Laboratory for Electronics (RLE); Peter Fisher, professor of physics; and Michael Ghebrebrhan, a postdoc in RLE — used a slab of tungsten, engineering billions of tiny pits on its surface. When the slab heats up, it generates bright light with an altered emission spectrum because each pit acts as a resonator, capable of giving off radiation at only certain wavelengths.
This powerful approach — co-developed by John D. Joannopoulos, the Francis Wright Davis Professor of Physics and ISN director, and others — has been widely used to improve lasers, light-emitting diodes and even optical fibers. The MIT team, supported in part by a seed grant from the MIT Energy Initiative, is now working with collaborators at MIT and elsewhere to use it to create several novel electricity-generating devices.
Mike Waits, an electronics engineer at the Army Research Laboratory in Adelphi, Md., who was not involved in this work, says this approach to producing miniature power supplies could lead to lighter portable electronics, which is "critical for the soldier to lighten his load. It not only reduces his burden, but also reduces the logistics chain" to deliver those devices to the field. "There are a lot of lives at stake," he says, "so if you can make the power sources more efficient, it could be a great benefit."
The button-like device that uses hydrocarbon fuels such as butane or propane as its heat source — known as a micro-TPV power generator — has at its heart a "micro-reactor" designed by Klavs Jensen, the Warren K. Lewis Professor of Chemical Engineering, and fabricated in the Microsystems Technology Laboratories. While the device achieves a fuel-to-electricity conversion efficiency three times greater than that of a lithium-ion battery of the same size and weight, Celanovic is confident that with further work his team can triple the current energy density. "At that point, our TPV generator could power your smartphone for a whole week without being recharged," he says.
Celanovic and Soljačić stress that building practical systems requires integrating many technologies and fields of expertise. "It's a really multidisciplinary effort," Celanovic says. "And it's a neat example of how fundamental research in materials can result in new performance that enables a whole spectrum of applications for efficient energy conversion."
David L. Chandler contributed to this story.
Thursday, July 28, 2011
RBI's rate increase may not be the last: Pranab
Govt to take steps to support RBI’s war on inflation.
Pranab MukherjeeFinance Minister Pranab Mukherjee on Wednesday dashed even faint hopes of a pause in the Reserve Bank of India’s (RBI’s) rate tightening cycle. Speaking to reporters a day after RBI stunned everybody with a 50 basis points (bps) increase in the repo rate, Mukherjee indicated this might not be the last increase.
I don’t think we have reached the end of the tunnel,” Mukherjee said, when asked if RBI was nearing the end of the rate increase cycle.
Yesterday’s rate increase has drawn criticism from companies worried about higher borrowing costs and prompted economists to revise their growth outlook. Standard Chartered Bank has reduced its gross domestic product growth forecast for this financial year from 8.1 per cent to 7.7 per cent. Kotak has cut its growth forecast to 7.3 per cent from 7.7 per cent, among the lowest in the market.
The benchmark 10-year bond yield on Wednesday hit its highest level in almost three years after rising 15 bps yesterday. Stocks continued their slide, losing nearly 0.5 per cent, and are down 10 per cent this year.
Mukherjee also sought to put a lid on murmurs over a finance ministry-RBI divide over steps to be taken to curb inflation, and pledged support to RBI in its fight against inflation.
RBI had said yesterday that its measure (repo rate increase) was expected to reinforce the point that there was an absence of complementary policy responses on both demand and supply sides.
Asked if he was surprised by the 50 bps increase, Mukherjee said, “I cannot say it surprised me. It is substantial no doubt, but given the situation it was necessary.”
Admitting that the 9.4 per cent inflation in June was “unacceptable”, Mukherjee said high prices were a global phenomenon and the whole world was reeling under rising prices of fuel and other commodities.
The government and RBI were taking steps to check inflation, he said, adding, “I am optimistic that the measures taken by RBI by adjusting the crucial rate will have an impact and inflation will come down.”
The inflation, Mukherjee said, might not come down to below 6-7 per cent by the end of the current financial year.
In an economy, Mukherjee said, “You cannot have a carpet under which you can keep all these things and at the same time expect these things will remain stable”.
He said crude oil prices went up from $89 per barrel when the Budget calculations were done to $107-110 a barrel.
He said he would take up the issue of volatility in commodity and crude oil prices at the international fora, including the G-20.
Meanwhile, the Financial Stability and Development Council, a body of the finance ministry and financial sector regulators, expressed confidence that the growth momentum would be maintained despite yesterday’s steep repo rate increase.
Pranab MukherjeeFinance Minister Pranab Mukherjee on Wednesday dashed even faint hopes of a pause in the Reserve Bank of India’s (RBI’s) rate tightening cycle. Speaking to reporters a day after RBI stunned everybody with a 50 basis points (bps) increase in the repo rate, Mukherjee indicated this might not be the last increase.
I don’t think we have reached the end of the tunnel,” Mukherjee said, when asked if RBI was nearing the end of the rate increase cycle.
Yesterday’s rate increase has drawn criticism from companies worried about higher borrowing costs and prompted economists to revise their growth outlook. Standard Chartered Bank has reduced its gross domestic product growth forecast for this financial year from 8.1 per cent to 7.7 per cent. Kotak has cut its growth forecast to 7.3 per cent from 7.7 per cent, among the lowest in the market.
The benchmark 10-year bond yield on Wednesday hit its highest level in almost three years after rising 15 bps yesterday. Stocks continued their slide, losing nearly 0.5 per cent, and are down 10 per cent this year.
Mukherjee also sought to put a lid on murmurs over a finance ministry-RBI divide over steps to be taken to curb inflation, and pledged support to RBI in its fight against inflation.
RBI had said yesterday that its measure (repo rate increase) was expected to reinforce the point that there was an absence of complementary policy responses on both demand and supply sides.
Asked if he was surprised by the 50 bps increase, Mukherjee said, “I cannot say it surprised me. It is substantial no doubt, but given the situation it was necessary.”
Admitting that the 9.4 per cent inflation in June was “unacceptable”, Mukherjee said high prices were a global phenomenon and the whole world was reeling under rising prices of fuel and other commodities.
The government and RBI were taking steps to check inflation, he said, adding, “I am optimistic that the measures taken by RBI by adjusting the crucial rate will have an impact and inflation will come down.”
The inflation, Mukherjee said, might not come down to below 6-7 per cent by the end of the current financial year.
In an economy, Mukherjee said, “You cannot have a carpet under which you can keep all these things and at the same time expect these things will remain stable”.
He said crude oil prices went up from $89 per barrel when the Budget calculations were done to $107-110 a barrel.
He said he would take up the issue of volatility in commodity and crude oil prices at the international fora, including the G-20.
Meanwhile, the Financial Stability and Development Council, a body of the finance ministry and financial sector regulators, expressed confidence that the growth momentum would be maintained despite yesterday’s steep repo rate increase.
Tuesday, April 21, 2009
IBM net profit down 1% to $2.29 billion
US computer giant IBM on Monday reported that first quarter net profit fell one percent to $2.29 billion while revenue declined 11% to $21.7 billion.
Earnings per share were $1.70, up from $1.64 in the same quarter last year.
"IBM continued to perform well in a very difficult economic environment," IBM chief executive Samuel Palmisano said in a statement.
"This was due to our long-term strategic focus: shifting into software and services, divesting of commodity businesses, and creating solutions that help clients reduce cost and conserve capital.
"We are well-positioned to continue to move aggressively and leverage our strong cash performance to make the most of the opportunities that arise, including smarter planet initiatives and other strategic options," Palmisano said.
"We remain ahead of pace for our 2010 roadmap of 10 dollars to 11 dollars per share."
Earnings per share were $1.70, up from $1.64 in the same quarter last year.
"IBM continued to perform well in a very difficult economic environment," IBM chief executive Samuel Palmisano said in a statement.
"This was due to our long-term strategic focus: shifting into software and services, divesting of commodity businesses, and creating solutions that help clients reduce cost and conserve capital.
"We are well-positioned to continue to move aggressively and leverage our strong cash performance to make the most of the opportunities that arise, including smarter planet initiatives and other strategic options," Palmisano said.
"We remain ahead of pace for our 2010 roadmap of 10 dollars to 11 dollars per share."
Friday, March 20, 2009
Sony Ericsson expects 340-390 mn euro loss in Q1 on weak sales
Cellular handset maker Sony Ericsson Mobile Communications AB on Friday said it expects to post a loss in the range of 340-390 million
euro in the first quarter of this year, due to continued decline in sales.
The company has estimated a net loss before taxes in the range of 340-390 million euro, excluding restructuring charges between 10 million and 20 million euro, Sony Ericsson said in a statement.
"..Net sales and net income before taxes in the first quarter of 2009 continue to be negatively affected by weak consumer demand as well as de-stocking in the retail and distribution channels," the statement added.
Besides, Sony Ericsson plans to ship about 14 million phones during the first quarter of 2009 with an estimated average selling price of 120 euro.
The company is due to announce its first quarter result on April 17.
Sony Ericsson had reported a net loss of 187 million euro in the fourth quarter of last year, against a net income of 373 million euro in the corresponding year-ago period.
Earlier in January, telecommunications firm Ericsson AB had said it would slash about 5,000 jobs as part of its cost cutting initiatives, while it had reported a substantial fall in net income for the fourth quarter ended December 31, 2008.
euro in the first quarter of this year, due to continued decline in sales.
The company has estimated a net loss before taxes in the range of 340-390 million euro, excluding restructuring charges between 10 million and 20 million euro, Sony Ericsson said in a statement.
"..Net sales and net income before taxes in the first quarter of 2009 continue to be negatively affected by weak consumer demand as well as de-stocking in the retail and distribution channels," the statement added.
Besides, Sony Ericsson plans to ship about 14 million phones during the first quarter of 2009 with an estimated average selling price of 120 euro.
The company is due to announce its first quarter result on April 17.
Sony Ericsson had reported a net loss of 187 million euro in the fourth quarter of last year, against a net income of 373 million euro in the corresponding year-ago period.
Earlier in January, telecommunications firm Ericsson AB had said it would slash about 5,000 jobs as part of its cost cutting initiatives, while it had reported a substantial fall in net income for the fourth quarter ended December 31, 2008.
Worst yet to come for Indian economy: Moody's
The positive movement of the st"The positive sentiment is expected to be short-lived, as India essentially only started feeling the pinch of the global downturn in the December quarter and the worst is yet to come," Moody's economy.com said in a research report.
The industrial production growth slipped into negative territory for the third time in the current fiscal by 0.5 per cent in January while exports also dropped by 15.9 per cent on a year-on-year (y-o-y) basis in the month.
However, expectations of further monetary easing measures by the Reserve Bank increased after inflation fell to 0.44 per cent for the first week of March against 2.43 per cent a week ago.
Since October, RBI has infused over Rs 4,00,000 crore in the system by cutting ratios and signalling interest rate cut.
There is also some positive news from Dalal Street as the Bombay Stock Exchange benchmark index Sensex surged 245 points in this week.
Moody's added that the Indian economy is likely to grow by 6.3 per cent with some downward risk in the current fiscal against government estimate of 7.1 per cent.
For the year 2009, India's growth rate is unlikely to exceed five per cent, but a recovery in the opening quarter of 2010 due to expected rebound of the US economy in the December quarter, should lift annual expansion to about five per cent for fiscal 2009-2010, it said.
It further added that the market sentiment is still unstable in India and so far in 2009 there has been a net outflow from the Indian stock market.
Even businesses in India continue to be troubled by liquidity concerns and tight access to credit.
"As the current focus of many firms is to refinance debt and survive the financial turmoil, investment is expected to be subdued this year," the report added.
Moody's expects long-term investors to continue to value India's underlying growth potential, but speculators who are facing liquidity constraints, are likely to stay clear of emerging markets on signs of turbulence.
"As the current focus of many firms is to refinance debt and survive the financial turmoil, investment is expected to be subdued this year," it added.
The industrial production growth slipped into negative territory for the third time in the current fiscal by 0.5 per cent in January while exports also dropped by 15.9 per cent on a year-on-year (y-o-y) basis in the month.
However, expectations of further monetary easing measures by the Reserve Bank increased after inflation fell to 0.44 per cent for the first week of March against 2.43 per cent a week ago.
Since October, RBI has infused over Rs 4,00,000 crore in the system by cutting ratios and signalling interest rate cut.
There is also some positive news from Dalal Street as the Bombay Stock Exchange benchmark index Sensex surged 245 points in this week.
Moody's added that the Indian economy is likely to grow by 6.3 per cent with some downward risk in the current fiscal against government estimate of 7.1 per cent.
For the year 2009, India's growth rate is unlikely to exceed five per cent, but a recovery in the opening quarter of 2010 due to expected rebound of the US economy in the December quarter, should lift annual expansion to about five per cent for fiscal 2009-2010, it said.
It further added that the market sentiment is still unstable in India and so far in 2009 there has been a net outflow from the Indian stock market.
Even businesses in India continue to be troubled by liquidity concerns and tight access to credit.
"As the current focus of many firms is to refinance debt and survive the financial turmoil, investment is expected to be subdued this year," the report added.
Moody's expects long-term investors to continue to value India's underlying growth potential, but speculators who are facing liquidity constraints, are likely to stay clear of emerging markets on signs of turbulence.
"As the current focus of many firms is to refinance debt and survive the financial turmoil, investment is expected to be subdued this year," it added.
Friday, February 27, 2009
Yahoo! CFO Blake Jorgensen to quit
Yahoo! has said its Chief Financial Officer (CFO) Blake Jorgensen will be quitting the company, amid reports that the internet major will soon be revamping its corporate structure.
In a regulatory filing with the US Securities and Exchange Commission on Thursday, Yahoo! said Jorgensen would be leaving the firm and added that the search has started for a new CFO.
Jorgensen would remain with the company as the CFO through a transition period, the filing added.
The development comes amid reports suggesting that the newly appointed Yahoo! chief Carol Bartz would soon be announcing a corporate reorganisation of the company.
Bartz took over the reins of the internet major in January.
On the other hand, Yahoo! India's CEO for Research & Development (R&D) Sharad Sharma has decided to quit the company.
Sharma would be replaced by Shoubick Mukherjee as the new R&D head.
In a regulatory filing with the US Securities and Exchange Commission on Thursday, Yahoo! said Jorgensen would be leaving the firm and added that the search has started for a new CFO.
Jorgensen would remain with the company as the CFO through a transition period, the filing added.
The development comes amid reports suggesting that the newly appointed Yahoo! chief Carol Bartz would soon be announcing a corporate reorganisation of the company.
Bartz took over the reins of the internet major in January.
On the other hand, Yahoo! India's CEO for Research & Development (R&D) Sharad Sharma has decided to quit the company.
Sharma would be replaced by Shoubick Mukherjee as the new R&D head.
Tuesday, January 27, 2009
Key rates unchanged; GDP forecast cut to 7%
The Reserve Bank of India (RBI) in its third quarter review of the Monetary Policy 2008-09, kept the key interest rates unchanged. The central bank also scaled down the GDP growth target to 7% with a downward bias from the earlier 7.5%-8%.
The repo rate under the LAF has been kept unchanged at 5.5%. The reverse repo rate under the LAF has been kept unchanged at 4%. The Bank Rate has been kept unchanged at 6%.
The review also reduced the inflation target to 3% in the medium term. The inflation projection is down keeping in view the global trend in commodity prices and the domestic demand-supply balance.
Money supply growth has been revised to 19% from 17% earlier. RBI expects fiscal deficit for FY09 at 5.9 per cent of GDP against earlier estimate of 2.5 per cent.
The Reserve Bank has allowed banks to avail liquidity support under the LAF for the purpose of meeting the funding requirements of mutual funds (MFs), non-banking financial companies (NBFCs) and housing finance companies (HFCs) through relaxation in the maintenance of SLR up to 1.5 per cent of their NDTL.
A special refinance facility for scheduled commercial banks (excluding RRBs) was provided by the Reserve Bank on November 1, 2008 under Section 17 (3B) of the RBI Act, 1934 up to 1% of each bank’s NDTL as on October 24, 2008. Both these facilities are currently available up to June 30, 2009.
The repo rate under the LAF has been kept unchanged at 5.5%. The reverse repo rate under the LAF has been kept unchanged at 4%. The Bank Rate has been kept unchanged at 6%.
The review also reduced the inflation target to 3% in the medium term. The inflation projection is down keeping in view the global trend in commodity prices and the domestic demand-supply balance.
Money supply growth has been revised to 19% from 17% earlier. RBI expects fiscal deficit for FY09 at 5.9 per cent of GDP against earlier estimate of 2.5 per cent.
The Reserve Bank has allowed banks to avail liquidity support under the LAF for the purpose of meeting the funding requirements of mutual funds (MFs), non-banking financial companies (NBFCs) and housing finance companies (HFCs) through relaxation in the maintenance of SLR up to 1.5 per cent of their NDTL.
A special refinance facility for scheduled commercial banks (excluding RRBs) was provided by the Reserve Bank on November 1, 2008 under Section 17 (3B) of the RBI Act, 1934 up to 1% of each bank’s NDTL as on October 24, 2008. Both these facilities are currently available up to June 30, 2009.
Friday, January 23, 2009
Steve Ballmer’s Entire Memo to the Microsoft troops about layoffs
From: Steve Ballmer
To: All Microsoft FTE
Subject: Realigning Resources and Reducing Costs
In response to the realities of a deteriorating economy, we’re taking important steps to realign Microsoft’s business. I want to tell you about what we’re doing and why.
Today we announced second quarter revenue of $16.6 billion. This number is an increase of just 2 percent compared with the second quarter of last year and it is approximately $900 million below our earlier expectations.
The fact that we are growing at all during the worst recession in two generations reflects our strong business fundamentals and is a testament to your hard work. Our products provide great value to our customers. Our financial position is solid. We have made long-term investments that continue to pay off.
But it is also clear that we are not immune to the effects of the economy. Consumers and businesses have reined in spending, which is affecting PC shipments and IT expenditures.
Our response to this environment must combine a commitment to long-term investments in innovation with prompt action to reduce our costs.
During the second quarter we started down the right path. As the economy deteriorated, we acted quickly. As a result, we reduced operating expenses during the quarter by $600 million. I appreciate the agility you have shown in enabling us to achieve this result.
Now we need to do more. We must make adjustments to ensure that our investments
are tightly aligned with current and future revenue opportunities. The current environment requires that we continue to increase our efficiency.
As part of the process of adjustments, we will eliminate up to 5,000 positions in R&D, marketing, sales, finance, LCA, HR, and IT over the next 18 months, of which 1,400 will occur today. We’ll also open new positions to support key investment areas during this same period of time. Our net headcount in these functions will decline by 2,000 to 3,000 over the next 18 months. In addition, our workforce in support, consulting, operations, billing, manufacturing, and data center operations will continue to change in direct response to customer needs.
Our leaders all have specific goals to manage costs prudently and thoughtfully. They have the flexibility to adjust the size of their teams so they are appropriately matched to revenue potential, to add headcount where they need to increase investments in order to ensure future success, and to drive efficiency.
To increase efficiency, we’re taking a series of aggressive steps. We’ll cut travel expenditures 20 percent and make significant reductions in spending on vendors and contingent staff. We’ve scaled back Puget Sound campus expansion and reduced marketing budgets
. We’ll also reduce costs by eliminating merit increases for FY10 that would have taken effect in September of this calendar year.
Each of these steps will be difficult. Our priority remains doing right by our customers and our employees. For employees who are directly affected, I know this will be a difficult time for you and I want to assure you that we will provide help and support during this transition. We have established an outplacement center in the Puget Sound region and we’ll provide outplacement services in many other locations to help you find new jobs. Some of you may find jobs internally. For those who don’t, we will also offer severance pay and other benefits.
The decision to eliminate jobs is a very difficult one. Our people are the foundation of everything we have achieved and we place the highest value on the commitment and hard work that you have dedicated to building this company. But we believe these job eliminations are crucial to our ability to adjust the company’s cost structure so that we have the resources to drive future profitable growth.
I encourage you to attend tomorrow’s Town Hall at 9am PST in Café 34 or watch the webcast.
While this is the most challenging economic climate we have ever faced, I want to reiterate my confidence in the strength of our competitive position and soundness of our approach.
With these changes in place, I feel confident that we will have the resources we need to continue to invest in long-term computing trends that offer the greatest opportunity to deliver value to our customers and shareholders, benefit to society, and growth for Microsoft.
With our approach to investing for the long term and managing our expenses, I know Microsoft will emerge an even stronger industry leader than it is today.
Thank you for your continued commitment and hard work.
Steve
To: All Microsoft FTE
Subject: Realigning Resources and Reducing Costs
In response to the realities of a deteriorating economy, we’re taking important steps to realign Microsoft’s business. I want to tell you about what we’re doing and why.
Today we announced second quarter revenue of $16.6 billion. This number is an increase of just 2 percent compared with the second quarter of last year and it is approximately $900 million below our earlier expectations.
The fact that we are growing at all during the worst recession in two generations reflects our strong business fundamentals and is a testament to your hard work. Our products provide great value to our customers. Our financial position is solid. We have made long-term investments that continue to pay off.
But it is also clear that we are not immune to the effects of the economy. Consumers and businesses have reined in spending, which is affecting PC shipments and IT expenditures.
Our response to this environment must combine a commitment to long-term investments in innovation with prompt action to reduce our costs.
During the second quarter we started down the right path. As the economy deteriorated, we acted quickly. As a result, we reduced operating expenses during the quarter by $600 million. I appreciate the agility you have shown in enabling us to achieve this result.
Now we need to do more. We must make adjustments to ensure that our investments
are tightly aligned with current and future revenue opportunities. The current environment requires that we continue to increase our efficiency.
As part of the process of adjustments, we will eliminate up to 5,000 positions in R&D, marketing, sales, finance, LCA, HR, and IT over the next 18 months, of which 1,400 will occur today. We’ll also open new positions to support key investment areas during this same period of time. Our net headcount in these functions will decline by 2,000 to 3,000 over the next 18 months. In addition, our workforce in support, consulting, operations, billing, manufacturing, and data center operations will continue to change in direct response to customer needs.
Our leaders all have specific goals to manage costs prudently and thoughtfully. They have the flexibility to adjust the size of their teams so they are appropriately matched to revenue potential, to add headcount where they need to increase investments in order to ensure future success, and to drive efficiency.
To increase efficiency, we’re taking a series of aggressive steps. We’ll cut travel expenditures 20 percent and make significant reductions in spending on vendors and contingent staff. We’ve scaled back Puget Sound campus expansion and reduced marketing budgets
. We’ll also reduce costs by eliminating merit increases for FY10 that would have taken effect in September of this calendar year.
Each of these steps will be difficult. Our priority remains doing right by our customers and our employees. For employees who are directly affected, I know this will be a difficult time for you and I want to assure you that we will provide help and support during this transition. We have established an outplacement center in the Puget Sound region and we’ll provide outplacement services in many other locations to help you find new jobs. Some of you may find jobs internally. For those who don’t, we will also offer severance pay and other benefits.
The decision to eliminate jobs is a very difficult one. Our people are the foundation of everything we have achieved and we place the highest value on the commitment and hard work that you have dedicated to building this company. But we believe these job eliminations are crucial to our ability to adjust the company’s cost structure so that we have the resources to drive future profitable growth.
I encourage you to attend tomorrow’s Town Hall at 9am PST in Café 34 or watch the webcast.
While this is the most challenging economic climate we have ever faced, I want to reiterate my confidence in the strength of our competitive position and soundness of our approach.
With these changes in place, I feel confident that we will have the resources we need to continue to invest in long-term computing trends that offer the greatest opportunity to deliver value to our customers and shareholders, benefit to society, and growth for Microsoft.
With our approach to investing for the long term and managing our expenses, I know Microsoft will emerge an even stronger industry leader than it is today.
Thank you for your continued commitment and hard work.
Steve
Google tops Q4 forecasts, though earnings drop
Google Inc.'s profit slipped for the first time in the fourth quarter, but the Internet search leader is still weathering the economic storm better than analysts anticipated.
The results released yesterday indicated the Mountain View, California-based company was able to rein in its free-spending ways enough to offset a slowdown in the online ad market that generates most of Google's revenue. That contrasted with a missed forecast and 5,000 layoffs announced earlier in the day by rival Microsoft Corp.
Even so, there were signs the recession is starting to bear down on Google.
The downturn forced Google to write down $1.1 billion of the combined $1.5 billion that it has invested in two troubled companies, AOL and Clearwire Corp. And Google is allowing its 20,222 employees to swap their outstanding stock options for new ones that will carry a lower exercise price -- which means the workers will have a better chance of making money from the options.
The move was driven by 47 per cent drop in Google's stock price over the past year, leaving about 17,000 employees holding options that are "under water" and can't be cashed in now at a profit.
Although he hailed his company's strength in a decrepit economy, Google Chairman and CEO Eric Schmidt signaled the challenges are becoming more daunting by describing the fourth quarter as "the easy part" and calling the upcoming months as "uncharted territory".
Revenue climbed 18 per cent to $5.7 billion. That marked the first time Google's revenue growth had fallen below 30 per cent from the previous year.
The results released yesterday indicated the Mountain View, California-based company was able to rein in its free-spending ways enough to offset a slowdown in the online ad market that generates most of Google's revenue. That contrasted with a missed forecast and 5,000 layoffs announced earlier in the day by rival Microsoft Corp.
Even so, there were signs the recession is starting to bear down on Google.
The downturn forced Google to write down $1.1 billion of the combined $1.5 billion that it has invested in two troubled companies, AOL and Clearwire Corp. And Google is allowing its 20,222 employees to swap their outstanding stock options for new ones that will carry a lower exercise price -- which means the workers will have a better chance of making money from the options.
The move was driven by 47 per cent drop in Google's stock price over the past year, leaving about 17,000 employees holding options that are "under water" and can't be cashed in now at a profit.
Although he hailed his company's strength in a decrepit economy, Google Chairman and CEO Eric Schmidt signaled the challenges are becoming more daunting by describing the fourth quarter as "the easy part" and calling the upcoming months as "uncharted territory".
Revenue climbed 18 per cent to $5.7 billion. That marked the first time Google's revenue growth had fallen below 30 per cent from the previous year.
Monday, January 19, 2009
Tata Motors may seek rollover of JLR debt
Tata Motors, India’s largest commercial vehicles maker, may seek to roll over a part of the Rs 9,200-crore bridge loan it took to buy the Jaguar, Land Rover brands of cars in June from Ford Motor Company, say analysts. The company is still short of over Rs 4500 crore to refinance the debt which is due before June 2 this year.
“The company may ask for a rollover of debt after repaying it partly,” said S Ramnath, director, research at Mumbai- based brokerage IDFC-SSKI. “It would eventually increase the interest cost burden of the company,” he said.
The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
The company also planned to raise around Rs 3000 crore through selling certain investment of the company. A Tata Motors spokesperson said that so far it had raised Rs 545 crore through this route which includes Rs 485 crore by selling the stake of Tata Steel to a group company. Another divestment that the company made is of the stake that it held in the unlisted entity Tata Teleservices which fetched it around Rs 60 crore.
The company did not disclose its plans on further divestments According to the company’s last annual report, it had investments in group’s listed entities such as Automobile Corporation of Goa, Tata Steel, and Tata Steel CCPS.
“The group’s response has not been prompt in divesting the stakes; there has been a slide in the stock prices since August when it announced its plans,” said an analyst with a foreign brokerage firm who did not wish to be quoted. “The task has become more difficult now,” he said.
Out of over 30 million shares of Tata Steel held, the company sold around 10 million on September 25 when the stock price of the scrip was Rs 488.55 on the Bombay Stock Exchange.
At Friday’s stock price of Rs 201, the share value has dropped by 59 per cent.
Tata Teleservices, Tata AutoComp Systems, Hispano Carrocera SA and Tata Sons are the other unlisted group firms where the company has its investments. Besides, there are seven subsidiaries of the company where it may choose to dilute its stake to raise the fund.
The third route for raising the money was a $500-600 million equity issue in a foreign market. “This is not possible in the prevailing market conditions,” said Ramnath. The company did not comment on this issue.
“Market sentiments are really bad, they would not be able to derive the benefit if they bring the issue in foreign market now,” said Piyush Parag, an analyst with Religare Securities.
“The company may ask for a rollover of debt after repaying it partly,” said S Ramnath, director, research at Mumbai- based brokerage IDFC-SSKI. “It would eventually increase the interest cost burden of the company,” he said.
The company had planned to raise the fund for refinancing through three routes. It planned to raise about Rs 4200 crore through rights issues which it managed after the issue devolved on underwriters in October as the stock prices were tumbling globally following the economic crisis.
The company also planned to raise around Rs 3000 crore through selling certain investment of the company. A Tata Motors spokesperson said that so far it had raised Rs 545 crore through this route which includes Rs 485 crore by selling the stake of Tata Steel to a group company. Another divestment that the company made is of the stake that it held in the unlisted entity Tata Teleservices which fetched it around Rs 60 crore.
The company did not disclose its plans on further divestments According to the company’s last annual report, it had investments in group’s listed entities such as Automobile Corporation of Goa, Tata Steel, and Tata Steel CCPS.
“The group’s response has not been prompt in divesting the stakes; there has been a slide in the stock prices since August when it announced its plans,” said an analyst with a foreign brokerage firm who did not wish to be quoted. “The task has become more difficult now,” he said.
Out of over 30 million shares of Tata Steel held, the company sold around 10 million on September 25 when the stock price of the scrip was Rs 488.55 on the Bombay Stock Exchange.
At Friday’s stock price of Rs 201, the share value has dropped by 59 per cent.
Tata Teleservices, Tata AutoComp Systems, Hispano Carrocera SA and Tata Sons are the other unlisted group firms where the company has its investments. Besides, there are seven subsidiaries of the company where it may choose to dilute its stake to raise the fund.
The third route for raising the money was a $500-600 million equity issue in a foreign market. “This is not possible in the prevailing market conditions,” said Ramnath. The company did not comment on this issue.
“Market sentiments are really bad, they would not be able to derive the benefit if they bring the issue in foreign market now,” said Piyush Parag, an analyst with Religare Securities.
Monday, January 12, 2009
Satyam's US clients face tough choices
Details of the stunning fraud at Indian outsourcing
giant Satyam are still trickling out. On Friday, Jan. 9, former Chairman Ramalinga Raju was arrested, the company's stock was delisted, and its board of directors was liquidated. It's unclear whether the $2.1 billion-a-year company will survive. But worried as they are, Satyam's current customers cannot abandon the company overnight; in the tech-services business, the operations of the client and service provider can be deeply intertwined.
Now companies like General Electric (GE) and Nestlé are hard at work assessing their exposure to risks if Satyam goes under. No. 1 on the priority list is determining how much of their business' knowledge has been documented and can easily be handed over to another outfit—and how much is locked up in the heads of Satyam's staff.
Other BusinessWeek stories
à
Why Satyam backpedaled so fast
à
Scramble starts as Satyam crumbles
à
Who wins from India's Satyam scandal?
The original intent of shifting IT work like programming and database management to outfits like Satyam was to save on labor costs. The savings for many companies has been 15%-20% on their IT budgets. But for Satyam clients, a potentially expensive and complex process of disentanglement is beginning.
Intellectual Property
Figuring out the knowledge-transfer process "is not for the faint of heart," says John McCarthy, an analyst for Forrester Research (FORR) in Cambridge, Mass. "In the best case, they can transfer the documentation [to another firm], but if not, they have to look to the [employees] of Satyam." And once the firm gathers its intellectual property, it has to decide where else to entrust it.
Satyam has about 550 to 600 clients; those contacted for this article did not want to talk about their business with Satyam. About 237 accounts spend more than $1 million annually with the company and 52 accounts spend more than $10 million. About 23% of its revenues come from the manufacturing sector; 21% from telecom, information technology, and media companies; 10.5% from retail; and 7% from health care and pharmaceuticals, says McCarthy.
Lifeblood Issues
How much trouble these clients are in for, though, depends not on their particular industries but the types of operations they have outsourced to Satyam. Firms in the greatest danger are those who have contracted with Satyam for running "mission critical" systems
and services —meaning IT operations core to the company's functioning, says Peter Bendor-Samuel, chief executive of the Everest Group, a Dallas outsourcing consultancy.
These systems include managing critical SAS and Oracle (ORCL) databases that control, for example, a company's accounts payable and receivables. "These are lifeblood issues to a company," says Bendor-Samuel. "They're pretty complicated and scary things to manage. [Satyam clients] are sweating every minute of every day to get it done."
Some companies are in better shape to handle the process than others, says Steve Martin, a partner and co-owner of Pace Harmon, a San Francisco-based outsourcing advisory firm serving Fortune 500 companies. "Best-practices companies do a good job documenting" business knowledge, says Martin. "Those who don't won't have an orderly or efficient transfer."
giant Satyam are still trickling out. On Friday, Jan. 9, former Chairman Ramalinga Raju was arrested, the company's stock was delisted, and its board of directors was liquidated. It's unclear whether the $2.1 billion-a-year company will survive. But worried as they are, Satyam's current customers cannot abandon the company overnight; in the tech-services business, the operations of the client and service provider can be deeply intertwined.
Now companies like General Electric (GE) and Nestlé are hard at work assessing their exposure to risks if Satyam goes under. No. 1 on the priority list is determining how much of their business' knowledge has been documented and can easily be handed over to another outfit—and how much is locked up in the heads of Satyam's staff.
Other BusinessWeek stories
à
Why Satyam backpedaled so fast
à
Scramble starts as Satyam crumbles
à
Who wins from India's Satyam scandal?
The original intent of shifting IT work like programming and database management to outfits like Satyam was to save on labor costs. The savings for many companies has been 15%-20% on their IT budgets. But for Satyam clients, a potentially expensive and complex process of disentanglement is beginning.
Intellectual Property
Figuring out the knowledge-transfer process "is not for the faint of heart," says John McCarthy, an analyst for Forrester Research (FORR) in Cambridge, Mass. "In the best case, they can transfer the documentation [to another firm], but if not, they have to look to the [employees] of Satyam." And once the firm gathers its intellectual property, it has to decide where else to entrust it.
Satyam has about 550 to 600 clients; those contacted for this article did not want to talk about their business with Satyam. About 237 accounts spend more than $1 million annually with the company and 52 accounts spend more than $10 million. About 23% of its revenues come from the manufacturing sector; 21% from telecom, information technology, and media companies; 10.5% from retail; and 7% from health care and pharmaceuticals, says McCarthy.
Lifeblood Issues
How much trouble these clients are in for, though, depends not on their particular industries but the types of operations they have outsourced to Satyam. Firms in the greatest danger are those who have contracted with Satyam for running "mission critical" systems
and services —meaning IT operations core to the company's functioning, says Peter Bendor-Samuel, chief executive of the Everest Group, a Dallas outsourcing consultancy.
These systems include managing critical SAS and Oracle (ORCL) databases that control, for example, a company's accounts payable and receivables. "These are lifeblood issues to a company," says Bendor-Samuel. "They're pretty complicated and scary things to manage. [Satyam clients] are sweating every minute of every day to get it done."
Some companies are in better shape to handle the process than others, says Steve Martin, a partner and co-owner of Pace Harmon, a San Francisco-based outsourcing advisory firm serving Fortune 500 companies. "Best-practices companies do a good job documenting" business knowledge, says Martin. "Those who don't won't have an orderly or efficient transfer."
Wednesday, December 31, 2008
Toyota may modify its just-in-time system
May raise inventories to mitigate the effects of its US suppliers' fall.
Toyota Motor Corp and Honda Motor Co, Japan’s two largest carmakers, may modify their so-called ‘just-in-time’ manufacturing system to avoid possible supplier bankruptcies disrupting production.
General Motors Corp and Chrysler LLC are battling to restructure after winning $13.4 billion in emergency federal loans to keep them operating through March. Detroit’s woes could lead to a “supplier shock,” crippling US production at Japanese and other foreign carmakers, according to the Center for Automotive Research.
“We continue contingency planning” even after the bailout, Mike Goss, a spokesman for Toyota’s North American manufacturing unit in Erlanger, Kentucky, said by email. “We hope the loans provided to Detroit will also help to stabilise suppliers, but the very slow market remains a concern for all.”
The Japanese company may work with more partsmakers and increase inventories to mitigate the effects of a collapse among its US suppliers, at least half of whom also work for Detroit automakers, Goss said. US vehicle sales at a 26-year low have forced GM and Chrysler to seek government aid and left as many as a third of North American component-makers at risk of bankruptcy, according to consulting company Grant Thornton LLP.
“Partsmakers may have escaped bankruptcy filings for the next few months, but six months, a year from now, the risk is definitely still there,” said Takeshi Miyao, a Tokyo-based supply chain analyst at automotive consulting company CSM Worldwide.
1938 Adoption: Toyota fell 1 per cent to 2,905 yen at the 11 am close of Tokyo Stock Exchange trading. It has fallen 52 per cent this year.
Plunging demand in the US, the world’s biggest auto market, contributed to Toyota on December 22 forecasting its first operating loss since 1938. That was the same year the carmaker fully adopted the “just-in-time” model, according to its website. Under the system, companies avoid stocking inventories, preferring to take delivery of components as they are needed, to cut expenses.
Toyota Motor Corp and Honda Motor Co, Japan’s two largest carmakers, may modify their so-called ‘just-in-time’ manufacturing system to avoid possible supplier bankruptcies disrupting production.
General Motors Corp and Chrysler LLC are battling to restructure after winning $13.4 billion in emergency federal loans to keep them operating through March. Detroit’s woes could lead to a “supplier shock,” crippling US production at Japanese and other foreign carmakers, according to the Center for Automotive Research.
“We continue contingency planning” even after the bailout, Mike Goss, a spokesman for Toyota’s North American manufacturing unit in Erlanger, Kentucky, said by email. “We hope the loans provided to Detroit will also help to stabilise suppliers, but the very slow market remains a concern for all.”
The Japanese company may work with more partsmakers and increase inventories to mitigate the effects of a collapse among its US suppliers, at least half of whom also work for Detroit automakers, Goss said. US vehicle sales at a 26-year low have forced GM and Chrysler to seek government aid and left as many as a third of North American component-makers at risk of bankruptcy, according to consulting company Grant Thornton LLP.
“Partsmakers may have escaped bankruptcy filings for the next few months, but six months, a year from now, the risk is definitely still there,” said Takeshi Miyao, a Tokyo-based supply chain analyst at automotive consulting company CSM Worldwide.
1938 Adoption: Toyota fell 1 per cent to 2,905 yen at the 11 am close of Tokyo Stock Exchange trading. It has fallen 52 per cent this year.
Plunging demand in the US, the world’s biggest auto market, contributed to Toyota on December 22 forecasting its first operating loss since 1938. That was the same year the carmaker fully adopted the “just-in-time” model, according to its website. Under the system, companies avoid stocking inventories, preferring to take delivery of components as they are needed, to cut expenses.
Monday, December 22, 2008
India Inc's dream run turning sour in UK
Indian companies' dream of turning global by going on an unprecedented acquisition spree in the UK this year seems to have soured after they were severely hit by the global financial crisis and steep fall in steel and auto demand.
The Indian acquisition trend, as the take-overs are labelled by the British stock market, was pioneered by the Tata's take over of British-based global companies Corus Steel and prestigious Jaguar and Land Rover.
It sparked off a serious look out by other companies to acquire strategically placed British firms as India emerged among the first five largest investors in British companies and equities.
The Indian companies' global interest in the British market ranged from auto, steel to companies involved in stock brokering and financial firms, according to Geneva based United Nations Conference on Trade and Development (UNCTAD).
But, the global meltdown and the November 26 terror attacks on Mumbai, the financial capital of India, had a chilling effect on the steady growth of trade and joint ventures between UK and India in 2008.
The global meltdown has forced the Tata group to seek a billion-pound bailout loan from the British government, just nine months after they bought the luxury car marque.
The plea by the group came as a surprise to the British authorities, who expected the Tata group to have deep pockets to ride over the financial crisis.
Tata paid $2.3 billion for JLR and financed the acquisition with a $3 billion bridging loan. Since then sales of new cars have plunged which has caused big problems with the cash flow needed to service debt payments.
It came at a time when Tata — one of India's most successful companies — also faced financial crunch in their other ventures. It paid $11 billion 22 months ago for steelmaker Corus and since then the metal price has collapsed.
Added to that is the terrorists attack on the Taj Mahal Hotel which could have a long-term impact.
Things are turning tight for Tatas is evident from the fact that the British authorities are dithering over the loan and now according to British media, Tatas are injecting "tens of millions of pounds" into the British car company to prevent an immediate cash flow crisis.
The meltdown and the recession in most of the West European countries has put a temporary stop on moves by other Indian companies to enter the British market.
But, Britain still remains the most favoured choice of the Indian investors for foreign acquisition, as British and European companies are busy shifting service operations abroad to escape high administrative and management costs.
But, a silver lining in the Indo-UK relations emerged with a surprise year-end visit by Prime Minister Gordon Brown, aftermath the Mumbai terror strikes where he made it clear that London would stand by New Delhi in this hour of crisis and trade relations between the two countries would not be allowed to be impeded.
The Indian acquisition trend, as the take-overs are labelled by the British stock market, was pioneered by the Tata's take over of British-based global companies Corus Steel and prestigious Jaguar and Land Rover.
It sparked off a serious look out by other companies to acquire strategically placed British firms as India emerged among the first five largest investors in British companies and equities.
The Indian companies' global interest in the British market ranged from auto, steel to companies involved in stock brokering and financial firms, according to Geneva based United Nations Conference on Trade and Development (UNCTAD).
But, the global meltdown and the November 26 terror attacks on Mumbai, the financial capital of India, had a chilling effect on the steady growth of trade and joint ventures between UK and India in 2008.
The global meltdown has forced the Tata group to seek a billion-pound bailout loan from the British government, just nine months after they bought the luxury car marque.
The plea by the group came as a surprise to the British authorities, who expected the Tata group to have deep pockets to ride over the financial crisis.
Tata paid $2.3 billion for JLR and financed the acquisition with a $3 billion bridging loan. Since then sales of new cars have plunged which has caused big problems with the cash flow needed to service debt payments.
It came at a time when Tata — one of India's most successful companies — also faced financial crunch in their other ventures. It paid $11 billion 22 months ago for steelmaker Corus and since then the metal price has collapsed.
Added to that is the terrorists attack on the Taj Mahal Hotel which could have a long-term impact.
Things are turning tight for Tatas is evident from the fact that the British authorities are dithering over the loan and now according to British media, Tatas are injecting "tens of millions of pounds" into the British car company to prevent an immediate cash flow crisis.
The meltdown and the recession in most of the West European countries has put a temporary stop on moves by other Indian companies to enter the British market.
But, Britain still remains the most favoured choice of the Indian investors for foreign acquisition, as British and European companies are busy shifting service operations abroad to escape high administrative and management costs.
But, a silver lining in the Indo-UK relations emerged with a surprise year-end visit by Prime Minister Gordon Brown, aftermath the Mumbai terror strikes where he made it clear that London would stand by New Delhi in this hour of crisis and trade relations between the two countries would not be allowed to be impeded.
Toyota expects first operating loss in history
Japan's top automaker Toyota today said it faced an "unprecedented" operating loss of $1.69 billion for fiscal 2008, the first such loss in the company's history, due to dwindling global auto sales and a surging yen.
The latest projection of an operating loss of 150 billion yen ($1.69 billion) in its second downward revision for the year to March 2009 represents a reversal from the previous estimate of an operating profit of 600 billion yen for the year through next March.
Toyota Motor Corp booked a record operating profit of 2.27 trillion yen in the previous fiscal year.
"We are facing unprecedented emergency circumstances," Toyota President Katsuaki Watanabe said at a press conference.
Toyota said it is expecting a net profit of 50 billion yen ($555 million) for the business year through next March, down 90.9 per cent from a previous estimate of 550 billion yen made in November and compared with a net profit of 1.72 trillion yen the year before.
"The change that has hit the world economy is of a critical scale that comes once in a hundred years," Watanabe said, adding that the drop in vehicle sales over the last month was "far faster, wider and deeper than expected."
It also revised downward its group global automobile sales target for calendar 2008 by 540,000 units from the previous estimate in July to 8.96 million units due to slowing demand amid worsening economic conditions, Kyodo news agency reported.
The revised sales target will be 4.4 per cent lower than the previous year when it sold 9.37 million vehicles worldwide, including those of two subsidiaries -- compact car maker Daihatsu Motor and truck maker Hino Motors.
The latest projection of an operating loss of 150 billion yen ($1.69 billion) in its second downward revision for the year to March 2009 represents a reversal from the previous estimate of an operating profit of 600 billion yen for the year through next March.
Toyota Motor Corp booked a record operating profit of 2.27 trillion yen in the previous fiscal year.
"We are facing unprecedented emergency circumstances," Toyota President Katsuaki Watanabe said at a press conference.
Toyota said it is expecting a net profit of 50 billion yen ($555 million) for the business year through next March, down 90.9 per cent from a previous estimate of 550 billion yen made in November and compared with a net profit of 1.72 trillion yen the year before.
"The change that has hit the world economy is of a critical scale that comes once in a hundred years," Watanabe said, adding that the drop in vehicle sales over the last month was "far faster, wider and deeper than expected."
It also revised downward its group global automobile sales target for calendar 2008 by 540,000 units from the previous estimate in July to 8.96 million units due to slowing demand amid worsening economic conditions, Kyodo news agency reported.
The revised sales target will be 4.4 per cent lower than the previous year when it sold 9.37 million vehicles worldwide, including those of two subsidiaries -- compact car maker Daihatsu Motor and truck maker Hino Motors.
Saturday, December 13, 2008
More mobile phone makers back Google's Android
Fourteen of the world's largest mobile phone and chip makers, including Sony Ericsson, Vodafone Group Plc and ARM Holdings Plc ,
joined the Open Handset Alliance on Tuesday to support the Android mobile device platform developed by Google Inc.
The new members' pledge to back the Android software is a significant feat for Google in the mobile phone industry, as its T-Mobile G1 phone takes on rival Apple Inc's popular iPhone 3G.
But despite the big-name additions to the Open Handset Alliance, analysts say what matters is whether the new members introduce more Android-supported smartphones in 2009 and 2010 to edge out competitors who also use open-source Linux software for mobile phones, such as Nokia-owned smartphone software maker Symbian.
"It's great to get these folks on board now (the Open Handset Alliance) has to make sure these licenses actually ship products," said research firm Jupitermedia's vice president of mobile strategy, Michael Gartenberg.
The first company set to introduce a mobile device that uses the Android operating system is Sony Ericsson, a joint venture of Japan's Sony Corp and Sweden's Ericsson. The company said on Tuesday it plans to introduce the Android-supported mobile phone in mid-2009.
"Android is set to become a significant application framework for mobile phones," Ericsson's head of mobile platforms, Robert Puskaric, said in a statement.
The Open Handset Alliance said on Tuesday that each of its members commits to developing applications and services for mobile phones and handsets using the Android platform or designing Android-compatible mobile devices.
Taiwan's Asustek Computer Inc, Toshiba Corp and Garmin Ltd also pledged their support, bringing the total number of companies in the Open Handset Alliance to 47, the Alliance said. These companies join earlier members of the Alliance, such as the world's biggest chip maker Intel Corp and mobile phone makers Motorola Inc and Samsung Electronics Co Ltd. Continued...
Both Google and Apple have wooed developers to create applications for their mobile devices, but Apple keeps a tight grip on the iPhone's hardware and operating software. Google's Android is open to being changed by outside developers.
The addition of new members to the Open Handset Alliance gives Google-developed Android more heft in the battle over who will dominate the mobile phone software market in coming years. Android's biggest competitor is Symbian, which controls half of the market and was acquired by Nokia, the world's biggest mobile phone maker, earlier this month.
Nokia contributes Symbian's assets to a not-for-profit organization similar to the Open Handset Alliance, the Symbian Foundation. Members of the Symbian Foundation have royalty-free access to Symbian's software.
So far, 59 companies have said they plan to join the Symbian Foundation, including Japan's third-largest wireless carrier, Softbank. Android also competes with Microsoft's Windows Mobile operating system, which has been gaining ground.
With a range of companies jumping into the Alliance, such as portable navigation device maker Garmin Ltd, Android has the potential to be featured on devices other than mobile phones. Each mobile phone maker also can modify the Android open source software, which leaves the opportunity open for many future mobile phones.
"What's fascinating about Android is it's this malleable thing. As these phones come out from other carriers it looks and operates differently," said Greg Sterling, a Web analyst with Sterling Market Intelligence. He added, "It seems more people will jump on the bandwagon."
joined the Open Handset Alliance on Tuesday to support the Android mobile device platform developed by Google Inc.
The new members' pledge to back the Android software is a significant feat for Google in the mobile phone industry, as its T-Mobile G1 phone takes on rival Apple Inc's popular iPhone 3G.
But despite the big-name additions to the Open Handset Alliance, analysts say what matters is whether the new members introduce more Android-supported smartphones in 2009 and 2010 to edge out competitors who also use open-source Linux software for mobile phones, such as Nokia-owned smartphone software maker Symbian.
"It's great to get these folks on board now (the Open Handset Alliance) has to make sure these licenses actually ship products," said research firm Jupitermedia's vice president of mobile strategy, Michael Gartenberg.
The first company set to introduce a mobile device that uses the Android operating system is Sony Ericsson, a joint venture of Japan's Sony Corp and Sweden's Ericsson. The company said on Tuesday it plans to introduce the Android-supported mobile phone in mid-2009.
"Android is set to become a significant application framework for mobile phones," Ericsson's head of mobile platforms, Robert Puskaric, said in a statement.
The Open Handset Alliance said on Tuesday that each of its members commits to developing applications and services for mobile phones and handsets using the Android platform or designing Android-compatible mobile devices.
Taiwan's Asustek Computer Inc, Toshiba Corp and Garmin Ltd also pledged their support, bringing the total number of companies in the Open Handset Alliance to 47, the Alliance said. These companies join earlier members of the Alliance, such as the world's biggest chip maker Intel Corp and mobile phone makers Motorola Inc and Samsung Electronics Co Ltd. Continued...
Both Google and Apple have wooed developers to create applications for their mobile devices, but Apple keeps a tight grip on the iPhone's hardware and operating software. Google's Android is open to being changed by outside developers.
The addition of new members to the Open Handset Alliance gives Google-developed Android more heft in the battle over who will dominate the mobile phone software market in coming years. Android's biggest competitor is Symbian, which controls half of the market and was acquired by Nokia, the world's biggest mobile phone maker, earlier this month.
Nokia contributes Symbian's assets to a not-for-profit organization similar to the Open Handset Alliance, the Symbian Foundation. Members of the Symbian Foundation have royalty-free access to Symbian's software.
So far, 59 companies have said they plan to join the Symbian Foundation, including Japan's third-largest wireless carrier, Softbank. Android also competes with Microsoft's Windows Mobile operating system, which has been gaining ground.
With a range of companies jumping into the Alliance, such as portable navigation device maker Garmin Ltd, Android has the potential to be featured on devices other than mobile phones. Each mobile phone maker also can modify the Android open source software, which leaves the opportunity open for many future mobile phones.
"What's fascinating about Android is it's this malleable thing. As these phones come out from other carriers it looks and operates differently," said Greg Sterling, a Web analyst with Sterling Market Intelligence. He added, "It seems more people will jump on the bandwagon."
Lay-off watch: At least one job ticked off every 10 second
Nicolas Cage took just a minute to vanish away with one car in the 2000 Hollywood blockbuster 'Gone in 60 Seconds', but the jobs
seem
Jobs
India 2nd best in hiring intentions
Cos hiring
to be disappearing at a faster rate, with companies laying off at least one employee every 10 second to cut costs and fight the economic crisis.
So far in December, companies across the world have announced at least 1.15 lakh job cuts -- a figure which translates into an average of more than 8,200 people being laid off a day or about six every one minute (60 seconds).
In reel scenes, the plot might have been thrilling but in real sequences, the story is getting gloomy, with lay-offs happening across diverse sectors -- right from finance to electronics to mining, to name a few.
While the financial crisis cost more than 30,000 jobs in the first week of December, the number nearly trebled to touch about 85,000 in the following seven days.
More than one-third of the layoffs happened in the US, which has already seen a stunning 5,33,000 job losses in November alone.
Last week's layoff wave was led by banking firm Bank of America, which announced plans to axe 35,000 jobs in the coming months.
seem
Jobs
India 2nd best in hiring intentions
Cos hiring
to be disappearing at a faster rate, with companies laying off at least one employee every 10 second to cut costs and fight the economic crisis.
So far in December, companies across the world have announced at least 1.15 lakh job cuts -- a figure which translates into an average of more than 8,200 people being laid off a day or about six every one minute (60 seconds).
In reel scenes, the plot might have been thrilling but in real sequences, the story is getting gloomy, with lay-offs happening across diverse sectors -- right from finance to electronics to mining, to name a few.
While the financial crisis cost more than 30,000 jobs in the first week of December, the number nearly trebled to touch about 85,000 in the following seven days.
More than one-third of the layoffs happened in the US, which has already seen a stunning 5,33,000 job losses in November alone.
Last week's layoff wave was led by banking firm Bank of America, which announced plans to axe 35,000 jobs in the coming months.
Tuesday, September 9, 2008
Kalam appointed IIST Chancellor
The former President and India’s rocket-missile technologist, A.P.J. Abdul Kalam, has been appointed Chancellor of the Indian Institute of Space Science and Technology (IIST), Thiruvananthapuram. The IIST was established by the Department of Space in 2007.
Mr. Kalam was the project director of the Indian Space Research Organisation’s (ISRO) first two SLV-3 (Satellite Launch Vehicles) flights in 1979 and 1980 from Sriharikota. The SLV-3 flight in 1980 was a big success, with the rocket putting the Rohini satellite in orbit. He was also the architect of India’s Integrated Guided Missile Development Programme under which Agni, Prithvi, Akash, Trishul and Nag missiles were developed.
The IIST, a deemed university, is the world’s first space university to offer undergraduate programmes. It offers two four-year B.Tech programmes in Avionics and Aerospace, and a five-year integrated post-graduate programme in Applied Sciences.
G. Madhavan Nair, Chairman, ISRO and Secretary, Department of Space, said on Monday evening: “I just talked to Mr. Kalam on the phone and he told me that he would like to be a different kind of Chancellor. He will do research on futuristic space technologies.” Mr. Nair said he was “really excited” over the development because Mr. Kalam “is the country’s topmost rocket scientist and to have him as Chancellor of the IIST is a blessing.”
B.N. Suresh, Director, IIST, said: “I am sure with Mr. Kalam as the Chancellor, the IIST will scale great heights.”
Dr. Suresh, who was earlier Director, Vikram Sarabhai Space Centre at Thiruvananthapuram, said 150 students had joined the IIST’s three courses in 2008 compared to 138 in 2007.
The institute would start three M. Tech. courses in Radio Frequency and Microwave, Adoptive Optics and Soft Computing from the next academic year (2009).
Dr. Manmohan will lay the foundation stone for the new campus at Valiamala, near Thiruvananthapuram, in October, Mr. Nair said.
Mr. Kalam was the project director of the Indian Space Research Organisation’s (ISRO) first two SLV-3 (Satellite Launch Vehicles) flights in 1979 and 1980 from Sriharikota. The SLV-3 flight in 1980 was a big success, with the rocket putting the Rohini satellite in orbit. He was also the architect of India’s Integrated Guided Missile Development Programme under which Agni, Prithvi, Akash, Trishul and Nag missiles were developed.
The IIST, a deemed university, is the world’s first space university to offer undergraduate programmes. It offers two four-year B.Tech programmes in Avionics and Aerospace, and a five-year integrated post-graduate programme in Applied Sciences.
G. Madhavan Nair, Chairman, ISRO and Secretary, Department of Space, said on Monday evening: “I just talked to Mr. Kalam on the phone and he told me that he would like to be a different kind of Chancellor. He will do research on futuristic space technologies.” Mr. Nair said he was “really excited” over the development because Mr. Kalam “is the country’s topmost rocket scientist and to have him as Chancellor of the IIST is a blessing.”
B.N. Suresh, Director, IIST, said: “I am sure with Mr. Kalam as the Chancellor, the IIST will scale great heights.”
Dr. Suresh, who was earlier Director, Vikram Sarabhai Space Centre at Thiruvananthapuram, said 150 students had joined the IIST’s three courses in 2008 compared to 138 in 2007.
The institute would start three M. Tech. courses in Radio Frequency and Microwave, Adoptive Optics and Soft Computing from the next academic year (2009).
Dr. Manmohan will lay the foundation stone for the new campus at Valiamala, near Thiruvananthapuram, in October, Mr. Nair said.
Monday, September 1, 2008
MIT class project gets a gold star from Google
'Locale' will let Android cell phones adjust to surroundings
A team of MIT students walked away from their spring-semester course with a lot more than just an A and six credits: They just won a $275,000 top prize from Google for the application they developed for the company's new open-source Android cell-phone system.
The application, called "Locale," lets a cell phone automatically adjust its settings according to the location it's in -- for example, silencing the ringer when it detects that it's at the office or in a lecture hall.
Locale was developed by students in a class called "Building mobile applications with Android," (6.087), taught by Hal Abelson, the Class of 1922 Professor of Computer Science and Engineering in the Department of Electrical Engineering and Computer Science. The class is being offered again this fall, but this time is extending to two other cell-phone systems in addition to Google's Android: Nokia and Windows Mobile.
Engineers from Google, Nokia and Microsoft will also work with students in the class to help them develop their concepts. One of the important aspects of this hands-on class, Abelson says, is "to give the students the experience of working with really experienced professionals" as they refine their applications. Professor Alex (Sandy) Pentland of the Media Lab and Eric Klopfer of the Department of Urban Studies and Planning will be co-teaching the class with Abelson. Andrew Yu of MIT's IS&T will also be working with the teams.
Two of the students who developed Locale, Carter Jernigan and Jasper Lin, graduated this June with degrees in computer science and are now working as software engineers. Christina Wright is also a recent graduate in computer science. And Clare Bayley is a junior, majoring in computer science. Jennifer Shu, a recent MIT graduate in computer science who works as a software engineer, was added to the team to help them perfect the product.
The team's application was one of 10 Google selected for the top prizes on Aug. 29, out of 50 finalists that were chosen from hundreds of entries. In addition to the cash prize, each of the winning applications will now be included with every new Android phone. The first such phones are expected to be released before the end of the year. Ten other teams won $100,000 each.
A team of MIT students walked away from their spring-semester course with a lot more than just an A and six credits: They just won a $275,000 top prize from Google for the application they developed for the company's new open-source Android cell-phone system.
The application, called "Locale," lets a cell phone automatically adjust its settings according to the location it's in -- for example, silencing the ringer when it detects that it's at the office or in a lecture hall.
Locale was developed by students in a class called "Building mobile applications with Android," (6.087), taught by Hal Abelson, the Class of 1922 Professor of Computer Science and Engineering in the Department of Electrical Engineering and Computer Science. The class is being offered again this fall, but this time is extending to two other cell-phone systems in addition to Google's Android: Nokia and Windows Mobile.
Engineers from Google, Nokia and Microsoft will also work with students in the class to help them develop their concepts. One of the important aspects of this hands-on class, Abelson says, is "to give the students the experience of working with really experienced professionals" as they refine their applications. Professor Alex (Sandy) Pentland of the Media Lab and Eric Klopfer of the Department of Urban Studies and Planning will be co-teaching the class with Abelson. Andrew Yu of MIT's IS&T will also be working with the teams.
Two of the students who developed Locale, Carter Jernigan and Jasper Lin, graduated this June with degrees in computer science and are now working as software engineers. Christina Wright is also a recent graduate in computer science. And Clare Bayley is a junior, majoring in computer science. Jennifer Shu, a recent MIT graduate in computer science who works as a software engineer, was added to the team to help them perfect the product.
The team's application was one of 10 Google selected for the top prizes on Aug. 29, out of 50 finalists that were chosen from hundreds of entries. In addition to the cash prize, each of the winning applications will now be included with every new Android phone. The first such phones are expected to be released before the end of the year. Ten other teams won $100,000 each.
D Subbarao is new RBI chief
Finance Secretary Duvvuri Subbarao, 59, an Indian Administrative Service (IAS) officer of the Andhra Pradesh cadre who topped the 1972 batch, will be the new governor of the Reserve Bank of India (RBI). He will take over from incumbent Yaga Venugopal Reddy, whose five-year tenure ends September 5.
Announcing this here today, Finance Minister P Chidambaram said Subbarao had been appointed for three years, though the norms allow a tenure of up to five years. By implication, Subbarao’s term could be extended by two years.
The appointment comes after considerable speculation over who would take over from Reddy, a retired IAS officer who became governor on September 6, 2003.
A key contender for the job was RBI Deputy Governor Rakesh Mohan, who met the finance minister last week. There was also some talk of Reddy being granted an extension.
Today, Chidambaram praised Reddy for his stint at the central bank. “His stewardship of the RBI saw some major changes and improvements. He led the RBI with distinction through a period of change and rapid growth. We warmly thank him for his services,” the finance minister said.
Subbarao has wide experience in public finance and has held important posts in this area. He had joined the finance ministry in May 2007, before which he worked as secretary of the Prime Minister’s Economic Advisory Council.
An IIT Kanpur alumnus, Subbarao was among the first of its graduates to join the civil services. He took a Master’s degree in economics from Ohio State University (1978), was a Humphrey Fellow at the Massachusetts Institute of Technology (1982-83) and later picked up a doctorate in Economics from Andhra University. Among other stints, he was also the lead economist at the World Bank from 1999 to 2004.
Widely seen as a reformer, he is credited with having authored a turnaround of Andhra Pradesh’s finances in the late nineties when the state slipped into an unprecedented fiscal crisis.
He takes charge at Mint Road at a time when inflation is ruling at an uncomfortable high of 12.4 per cent and monetary policy is focused on curbing the price rise and tackling inflationary expectations.
Subbarao is currently overseas on official business and was scheduled to return to New Delhi late tonight.
Subbarao’s appointment as RBI governor means a new secretary, department of economic affairs, will have to be appointed soon because he also held that post. Since he was the senior-most among his peers, he was appointed finance secretary.
Sources said Ashok Chawla, currently civil aviation secretary, may be appointed secretary, economic affairs. Chawla was additional secretary, economic affairs from April 2005 to January 2007. Chawla is an IAS officer of the 1973 batch from the Gujarat cadre.
Meanwhile, Sindhushree Khullar, currently additional secretary in the department of economic affairs, has been empanelled to pick up the secretary rank. She is an IAS officer of the 1975 batch of the AGMU cadre.
The finance ministry has five secretaries. Revenue secretary P V Bhide and financial services secretary Arun Ramanathan are from the 1973 batch. Disinvestment secretary Vivek Mehrotra and secretary expenditure Sushma Nath both belong to the 1974 batch. Even after Chawla joins, Ramanathan would be the senior-most among the secretaries at North Block. He is slated to retire in April 2009.
Sources suggest Chawla may eventually be appointed the new finance secretary once Ramanathan retires.
Technocrat Mohan joined the RBI as deputy governor in July 2005 for a five-year term. Before joining the central bank, Mohan, 60, worked as secretary, department of economic affairs, finance ministry, for less than a year. In this position, he was alternate governor of the World Bank and Asian Development Bank. Immediately before this, he was with RBI as deputy governor between September 2002 and October 2004.
It is not yet clear whether Mohan will continue in his present charge. He has two years to go as deputy governor and there is a suggestion that he may be headed to the World Bank at Washington. It is likely that Arvind Virmani, currently the chief economic adviser in the finance ministry, may be appointed as deputy governor in Mohan’s place.
Announcing this here today, Finance Minister P Chidambaram said Subbarao had been appointed for three years, though the norms allow a tenure of up to five years. By implication, Subbarao’s term could be extended by two years.
The appointment comes after considerable speculation over who would take over from Reddy, a retired IAS officer who became governor on September 6, 2003.
A key contender for the job was RBI Deputy Governor Rakesh Mohan, who met the finance minister last week. There was also some talk of Reddy being granted an extension.
Today, Chidambaram praised Reddy for his stint at the central bank. “His stewardship of the RBI saw some major changes and improvements. He led the RBI with distinction through a period of change and rapid growth. We warmly thank him for his services,” the finance minister said.
Subbarao has wide experience in public finance and has held important posts in this area. He had joined the finance ministry in May 2007, before which he worked as secretary of the Prime Minister’s Economic Advisory Council.
An IIT Kanpur alumnus, Subbarao was among the first of its graduates to join the civil services. He took a Master’s degree in economics from Ohio State University (1978), was a Humphrey Fellow at the Massachusetts Institute of Technology (1982-83) and later picked up a doctorate in Economics from Andhra University. Among other stints, he was also the lead economist at the World Bank from 1999 to 2004.
Widely seen as a reformer, he is credited with having authored a turnaround of Andhra Pradesh’s finances in the late nineties when the state slipped into an unprecedented fiscal crisis.
He takes charge at Mint Road at a time when inflation is ruling at an uncomfortable high of 12.4 per cent and monetary policy is focused on curbing the price rise and tackling inflationary expectations.
Subbarao is currently overseas on official business and was scheduled to return to New Delhi late tonight.
Subbarao’s appointment as RBI governor means a new secretary, department of economic affairs, will have to be appointed soon because he also held that post. Since he was the senior-most among his peers, he was appointed finance secretary.
Sources said Ashok Chawla, currently civil aviation secretary, may be appointed secretary, economic affairs. Chawla was additional secretary, economic affairs from April 2005 to January 2007. Chawla is an IAS officer of the 1973 batch from the Gujarat cadre.
Meanwhile, Sindhushree Khullar, currently additional secretary in the department of economic affairs, has been empanelled to pick up the secretary rank. She is an IAS officer of the 1975 batch of the AGMU cadre.
The finance ministry has five secretaries. Revenue secretary P V Bhide and financial services secretary Arun Ramanathan are from the 1973 batch. Disinvestment secretary Vivek Mehrotra and secretary expenditure Sushma Nath both belong to the 1974 batch. Even after Chawla joins, Ramanathan would be the senior-most among the secretaries at North Block. He is slated to retire in April 2009.
Sources suggest Chawla may eventually be appointed the new finance secretary once Ramanathan retires.
Technocrat Mohan joined the RBI as deputy governor in July 2005 for a five-year term. Before joining the central bank, Mohan, 60, worked as secretary, department of economic affairs, finance ministry, for less than a year. In this position, he was alternate governor of the World Bank and Asian Development Bank. Immediately before this, he was with RBI as deputy governor between September 2002 and October 2004.
It is not yet clear whether Mohan will continue in his present charge. He has two years to go as deputy governor and there is a suggestion that he may be headed to the World Bank at Washington. It is likely that Arvind Virmani, currently the chief economic adviser in the finance ministry, may be appointed as deputy governor in Mohan’s place.
Friday, August 22, 2008
Tata threatens to pull out from Singur
Tata Group Chairman Ratan Tata today threatened to pull out of Singur if the stand off continues with the opponents of its small car plant.
The Government of West Bengal has been holding talks with the Trinamul Congress leader Mamata Banerji for the last few days to arrive at a mutually acceptable solution to the opposition of the villagers to the Tata Motors plant which is to produce the low cost car Nano.
The Government of West Bengal has been holding talks with the Trinamul Congress leader Mamata Banerji for the last few days to arrive at a mutually acceptable solution to the opposition of the villagers to the Tata Motors plant which is to produce the low cost car Nano.
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