Archive for August, 2009
Monday, August 31st, 2009
NEW YORK – The Dow Jones Economic Sentiment Indicator (ESI) reached its highest level in a year rising to 35.5 in August, the sixth consecutive monthly increase.
The ESI’s continued improvement lends guarded support to the growing view that the U.S. economy may be moving out of recession and into a period of recovery.
“In addition to the ESI’s positive trend, we’ve seen several months of positive movement in the Leading Economic Index and industrial production which have in the past signaled a move to economic growth,” said Dow Jones Newswires ‘Money Talks’ columnist Alen Mattich.
“The continued improvement of the ESI coupled with the gains of other leading indicators is a sign that the U.S. economy continues to steer a course towards recovery.”
Mattich points out, however, that it would be premature to call an end to the recession. “It will be months before the National Bureau of Economic Research determines the timing of the recession’s trough and a return to growth.
“We continue to wait for the ESI to reach the upper 30s before anticipating an end to recession and thereafter for it to reach the upper 40s before sentiment suggests the recovery is sustainable,” Mattich said.
The Dow Jones Economic Sentiment Indicator aims to predict the health of the U.S. economy by analyzing the coverage of 15 major daily newspapers in the U.S.
The ESI’s back-testing to 1990 shows that the ESI clearly highlighted the risk that the U.S. economy was sliding into recession in 2001 and 2008 and suggests the indicator can help predict economic turning points as much as seven months in advance of other indicators.
Unlike some other indicators where 50 is a clear break-point between recession and recovery, the ESI needs to be read with reference to longer trends.
Based on the ESI’s performance since 1990, previous recoveries have been marked by substantial month-to-month gains, with a jump of three points seeming to be a sign of significant improvement. A drop below 50 marks the point at which there is a clear risk of a slowdown.
More information about the Economic Sentiment Indicator and its development is available at http://solutions.dowjones.com/esi.
Posted in Business Briefs, Studies, surveys, reports | Comments Off
Monday, August 31st, 2009
By ANICK JESDANUN
AP Technology Writer
NEW YORK (AP) – Goofy videos weren’t on the minds of Len Kleinrock and his team at UCLA when they began tests 40 years ago on what would become the Internet. Neither was social networking, for that matter, nor were most of the other easy-to-use applications that have drawn more than a billion people online.
Instead the researchers sought to create an open network for freely exchanging information, an openness that ultimately spurred the innovation that would later spawn the likes of YouTube, Facebook and the World Wide Web.
There’s still plenty of room for innovation today, yet the openness fostering it may be eroding. While the Internet is more widely available and faster than ever, artificial barriers threaten to constrict its growth.
Call it a mid-life crisis.
A variety of factors are to blame. Spam and hacking attacks force network operators to erect security firewalls. Authoritarian regimes block access to many sites and services within their borders. And commercial considerations spur policies that can thwart rivals, particularly on mobile devices like the iPhone.
“There is more freedom for the typical Internet user to play, to communicate, to shop _ more opportunities than ever before,” said Jonathan Zittrain, a law professor and co-founder of Harvard’s Berkman Center for Internet & Society. “On the worrisome side, there are some longer-term trends that are making it much more possible (for information) to be controlled.”
Few were paying attention back on Sept. 2, 1969, when about 20 people gathered in Kleinrock’s lab at the University of California, Los Angeles, to watch as two bulky computers passed meaningless test data through a 15-foot gray cable.
That was the beginning of the fledgling Arpanet network. Stanford Research Institute joined a month later, and UC Santa Barbara and the University of Utah did by year’s end.
The 1970s brought e-mail and the TCP/IP communications protocols, which allowed multiple networks to connect _ and formed the Internet. The ’80s gave birth to an addressing system with suffixes like “.com” and “.org” in widespread use today.
The Internet didn’t become a household word until the ’90s, though, after a British physicist, Tim Berners-Lee, invented the Web, a subset of the Internet that makes it easier to link resources across disparate locations. Meanwhile, service providers like America Online connected millions of people for the first time.
That early obscurity helped the Internet blossom, free from regulatory and commercial constraints that might discourage or even prohibit experimentation.
“For most of the Internet’s history, no one had heard of it,” Zittrain said. “That gave it time to prove itself functionally and to kind of take root.”
Even the U.S. government, which funded much of the Internet’s early development as a military project, largely left it alone, allowing its engineers to promote their ideal of an open network.
When Berners-Lee, working at a European physics lab, invented the Web in 1990, he could release it to the world without having to seek permission or contend with security firewalls that today treat unknown types of Internet traffic as suspect.
Even the free flow of pornography led to innovations in Internet credit card payments, online video and other technologies used in the mainstream today.
“Allow that open access, and a thousand flowers bloom,” said Kleinrock, a UCLA professor since 1963. “One thing about the Internet you can predict is you will be surprised by applications you did not expect.”
That idealism is eroding.
An ongoing dispute between Google Inc. and Apple Inc. underscores one such barrier.
Like some other mobile devices that connect to the Internet, the iPhone restricts the software that can run on it. Only applications Apple has vetted are allowed.
Apple recently blocked the Google Voice communications application, saying it overrides the iPhone’s built-in interface. Skeptics, however, suggest the move thwarts Google’s potentially competing phone services.
On desktop computers, some Internet access providers have erected barriers to curb bandwidth-gobbling file-sharing services used by their subscribers. Comcast Corp. got rebuked by Federal Communications Commission last year for blocking or delaying some forms of file-sharing; Comcast ultimately agreed to stop that.
The episode galvanized calls for the government to require “net neutrality,” which essentially means that a service provider could not favor certain forms of data traffic over others. But that wouldn’t be a new rule as much as a return to the principles that drove the network Kleinrock and his colleagues began building 40 years ago.
Even if service providers don’t actively interfere with traffic, they can discourage consumers’ unfettered use of the Internet with caps on monthly data usage. Some access providers are testing drastically lower limits that could mean extra charges for watching just a few DVD-quality movies online.
“You are less likely to try things out,” said Vint Cerf, Google’s chief Internet evangelist and one of the Internet’s founding fathers. “No one wants a surprise bill at the end of the month.”
Dave Farber, a former chief technologist at the Federal Communications Commission, said systems are far more powerful when software developers and consumers alike can simply try things out.
Farber has unlocked an older iPhone using a warrantee-voiding technique known as jail-breaking, allowing the phone to run software that Apple hasn’t approved. By doing that, he could watch video before Apple supported it in the most recent version of the iPhone, and he changed the screen display when the phone is idle to give him a summary of appointments and e-mails.
While Apple insists its reviews are necessary to protect children and consumer privacy and to avoid degrading phone performance, other phone developers are trying to preserve the type of openness found on desktop computers. Google’s Android system, for instance, allows anyone to write and distribute software without permission.
Yet even on the desktop, other barriers get in the way.
Steve Crocker, an Internet pioneer who now heads the startup Shinkuro Inc., said his company has had a tough time building technology that helps people in different companies collaborate because of security firewalls that are ubiquitous on the Internet. Simply put, firewalls are designed to block incoming connections, making direct interactions between users challenging, if not impossible.
No one’s suggesting the removal of all barriers, of course. Security firewalls and spam filters became crucial as the Internet grew and attracted malicious behavior, much as traffic lights eventually had to be erected as cars flooded the roads. Removing those barriers could create larger problems.
And many barriers throughout history eventually fell away _ often under pressure. Early on, AOL was notorious for discouraging users from venturing from its gated community onto the broader Web. The company gradually opened the doors as its subscribers complained or fled. Today, the company is rebuilding its business around that open Internet.
What the Internet’s leading engineers are trying to avoid are barriers that are so burdensome that they squash emerging ideas before they can take hold.
Already, there is evidence of controls at workplaces and service providers slowing the uptake of file-sharing and collaboration tools. Video could be next if consumers shun higher-quality and longer clips for fear of incurring extra bandwidth fees. Likewise, startups may never get a chance to reach users if mobile gatekeepers won’t allow them.
If such barriers keep innovations from the hands of consumers, we may never know what else we may be missing along the way.
Posted in Internet/New Media | Comments Off
Monday, August 31st, 2009
RALEIGH, NC – A North Carolina State University researcher has devised a new technology that really does not stink. In
fact, it could be the key to eliminating foul odors and air pollutants emitted by industrial chicken rendering
facilities and – ultimately – large-scale swine feedlots.
Dr. Praveen Kolar, assistant professor of biological and agricultural engineering at NC State, has developed
an inexpensive treatment process that significantly mitigates odors from poultry rendering operations.
Rendering facilities take animal byproducts (e.g., skin, bones, feathers) and process them into useful
products such as fertilizer. However, the rendering process produces extremely foul odors.
These emissions are not currently regulated by the government, but the smell can be extremely disruptive to
a facility’s community. The industry currently uses chemical “scrubbers” to remove odor-causing agents, but
this technique is not very effective, Kolar says. Furthermore, some of the odor-causing compounds are
aldehydes, which can combine with other atmospheric compounds to form ozone – triggering asthma
attacks and causing other adverse respiratory health effects.
Kolar, working with his co-author Dr. James Kastner at the University of Georgia, has designed an effective
filtration system that takes advantage of catalytic oxidation to remove these odor-causing pollutants.
Specifically, the researchers use ozone and specially-designed catalysts to break down the odor-causing
compounds. This process takes place at room temperature, so there are no energy costs, and results in only
two byproducts: carbon dioxide and pure water.
The researchers developed the catalysts by coating structures made of activated carbon with a nanoscale
film made of cobalt or nickel oxides, Kolar says. “We used activated carbon because its porous structure
gives it an extremely large surface area,” Kolar explains, “meaning that there is more area that can be
exposed to the odorous agents.” The cobalt and nickel oxide nanofilms make excellent catalysts, Kolar
explains, “because they increase the rate of the chemical reaction between the odor-causing compounds and
the ozone, making the process more efficient. They are also metals that are both readily available and
relatively inexpensive.”
Kolar says his next goal is to apply this research to industrial hog farms. “This technology could be applied
to swine operations to address odors and ammonia emissions,” Kolar says. “My next step is to try to pursue
this research on a large scale.”
Posted in Biotech, North Carolina, University Tech | Comments Off
Monday, August 31st, 2009
WASHINGTON, DC – The U.S. Senate is putting together a bill that would give the President of the United States the authority to take control of the Internet in a “cybersecurity emergency.” CNET reported on the proposed bill Friday.
The bill grant President Obama “cybersecurity emergency powers” to disconnect and even seize control of private sector computers on the Internet, the report says.
Senate Bill S773, being drafted by West Virginia Sen. Jay Rockefeller’s staff, would also create a federal cybersecurity professional certification program. It would require people operating certain private sector computer systems and networks to have the certification.
The bill has alarmed civil liberties groups and others. The Competitive Enterprise Institute, a generally conservative, free-markets organization, issued a statement Monday from Wayne Crews, its director of technology studies.
Crews said, “From American telecommunications to the power grid, virtually anything networked to some other computer is potentially fair game to Obama to exercise ‘emergency powers,’” Crews said today. “Policy makers should be suspicious of proposals to collectivize and centralize cybersecurity risk management, especially in frontier industries like information technology.
“When government asserts authority over security technologies, it hinders the evolution of more robust information security practices and creates barriers to non-political solutions—both mundane and catastrophic. The result is that we become less secure, not more secure.”
CNET report: http://bit.ly/a2Z4r
www.CEI.org
Posted in Business Briefs, Government/Defense, Internet/New Media, Legal, Security, Washington, DC | Comments Off
Monday, August 31st, 2009
ATLANTA – Wordster, which plans to launch what it calls a “Wikipedi for words,” has raised $440,000 of a $1.25 million round according to a regulatory filing.
The company revealed the funding in a filing with the U.S. Securities and Exchange Commission.
The company is developing a semantic search reference service targeted to launch in November. According to TechDrawl.com, which profiled the company in May, it is initially aimed at middle and secondary student use.
Serial entrepreneur Anindya Datta founded the company. He also startedf Chutney Technologies, which sold to Cisco in 2005, according to the Web site PaidContent.com.
TechDrawl profile: http://bit.ly/WIwBA
Posted in Georgia, Internet/New Media, Money | Comments Off
Monday, August 31st, 2009
By Allan Maurer
UPDATED ATLANTA – Moneta, a company offering online payment services that lower merchant processing costs, has raised a $4 million round of new venture backing led by Tampa, Florida-based ENG.
CEO Guido Sacchi tells TechJournal South the Series A round also included previous investors and some new ones, primarily angels.
He says the 10 person company will double its staff over time as it ramps up sales and marketing efforts.
Just this morning, the company announced that Stacks and Stacks, one of the largest Internet retailers of housewares, storage and organizational solutions, will offer Moneta’s “Pay Now” option, allowing customers to pay online from checking, savings or money market accounts in a secure, single-step process.
Moneta evolved from Checkfree, which developed the technology. Private equity investors bought the Checkfree assets and formed Moneta in 2007.
Moneta previously raised about $2 million from private and angel investors. Investors had put about $8 million in Checkfree prior to the purchase.
Despite strong competition in the online alternative payments space, Moneta offers two compelling differentiators, Sacchi told Techjournal South in a previous interview.
First, Moneta lowers the cost to merchants of accepting online payments by about 50 percent. Second, it provides a way for banks to create revenue from the alternative payments space.
That’s particularly important to Moneta, because the company partners with financial institutions to give them a brand presence at merchant checkouts online.
“It’s a real pain point for banks. They don’t see revenue flowing from alternative payments today,” Sacchi said.
“They have been pushed to the sidelines in online transactions.”
“Paypal has become a huge strategic threat for banks,” Sacchi said Monday morning. “This lets them create a branded presence in the alternative payments space and make money in the process.
Delta Airlines and Shoebuy.com among other merchants, currently offer the payment option. Sacchi says the company expects to announce several more merchants using the service in coming months.
“Right now we need to expand sales and marketing. It’s a matter of ramping up,” Sacchi says. “We’re very confident the trends in the marketplace are going in our direction.”
According to the company Web site, Moneta was a title given to two separate goddesses: the goddess of memory and an epithet of Juno, called Juno Moneta. The latter’s name is source of numerous words in English, including the word “money”.
Previously on TechJournal South:
Moneta includes banks in online payment transaction revenue
http://techjournalsouth.com/news/article.html?item_id=6326
Online: www.monetacorp.com
Posted in Georgia, Internet/New Media, Money | Comments Off
Friday, August 28th, 2009
By Allan Maurer
EXCLUSIVE REPORT CHARLOTTEVILLE, VA – Diffusion Pharmaceuticals has closed on more than $1.8 million of a new $5 million raise, according to a regulatory filing. The company is testing treatments to diffuse oxygen to tissue deprived of it. The treatments could help victims of cancer, stroke, heart attacks and other conditions.
The company raised $2.6 million in February from unnamed investors. With the new funds, it has raised about $15 million to date.
Diffusion also received $2.6 million in R&D funding from the Office of Naval Research.
The company revealed the latest funding in a filing with the U.S. Securities and Exchange Commission. SEC filings often tend to lag actual amounts raised.
The filing indicates that $425,000 of the new funds are earmarked to pay executives and directors.
Diffusion CEO David Kalegis tells TechJournal South the company expects to report results from its Phase I/II clinical trial of its lead drug by the first quarter next year.
The company is testing its drug candidate trans sodium crocetinate for peripheral arterial disease, a painful condition affecting 8 million Americans.
“This is an exciting trial for us,” says Kalegis. “We’ve been doing this about 10 years now and we have had fabulous animal results, but everyone said to get traction we needed proof of concept in the human population. We hope this will be that proof.”
The company’s technology has potential applications anytime tissue is deprived of oxygen.
“Oxygen is the most fundamental thing for life,” Kalgis says. “I can’t think of anything that will kill you quicker without it. You can go a while without food and water and shelter, but only minutes without oxygen.”
Diffusion Pharmaceuticals’ pipeline of first-in-class small molecules uses a novel mechanism of action allowing more oxygen to reach oxygen-deprived (hypoxic) tissues in the body.
Potential clinical applications include cancer, critical care uses such as trauma, hemorrhage, stroke, and heart attack, as well as chronic conditions such as peripheral arterial and vascular disease, cardiovascular disease, and respiratory disorders.
In preclinical studies, TSC has been shown to increases the rate of oxygen diffusion by about 30 percent. TSC has been shown in animal models to increase the diffusion of oxygen into hypoxic cancerous tumor tissue, making the cancer more susceptible to radiation therapy and increasing survival.
In addition, animals suffering severe blood loss have a higher rate of survival if treated with TSC.
Online: www.diffusionpharma.com
Posted in Biotech, Money, Pharma, Virginia | Comments Off
Friday, August 28th, 2009
ATLANTA – Definition 6 has acquired the assets of Creative Bubble, a New York City, video editorial, design, sound and production company. Financial terms were not disclosed.
The acquisition expands upon Definition 6′s interactive marketing and rich media capabilities, signaling its first move towards national expansion.
The Creative Bubble acquisition comes one month after Definition 6 announced it had secured up to $15 million in private equity investment and planned to expand through organic growth and the acquisition of two to three agencies through the end of 2010.
Founded in 1997, Definition 6 is best known for its full-service interactive marketing capabilities, working to help companies like La Quinta Inns & Suites, Carter’s, VeriFone, and Cox Enterprises, Inc. to develop and execute interactive marketing strategies designed to gain market share.
Creative Bubble offers a full suite of production, sound engineering, graphics, editorial and post production services that have earned them multiple Emmy Awards. Creative Bubble’s clients include Nickelodeon, The USA Network, and Literary Partners.
Creative Bubble’s employees and leadership team will join Definition 6, establishing its New York office and increasing the size of its team to approximately 100 employees.
Definition 6 says it plans to increase its investment in talent, technology and bundled services, to protect its position as a premier post-production agency in New York City.
Posted in Acquisitions, Georgia, Internet/New Media, Marketing | Comments Off
Friday, August 28th, 2009
SAN FRANCISCO – Wikipedia, the online encyclopedia, plans to bring more control to editing of entries of living persons.
Anyone will still be able to edit entries, but changes won’t appear until an experienced
Wikipedia editor approves them.
The site has suffered from pranks, such as recent changes to profiles of Sen. Robert Byrd, who was prematurely declared as deceased.
The experienced editor designation is not hard to come by, however. Users registered for only a few days can ok changes, a company spokesperson says.
Last week, The Wikipedia Foundation received a $500,000 grant from the William and Flora Hewlett Foundation to make its software more user friendly and develop training materials for volunteer editors.
Posted in Business Briefs, Internet/New Media | Comments Off
Friday, August 28th, 2009
KANNAPOLIS, NC – The U.S. Department of Commerce has recognized the city of Kannapolis for its economic development efforts.
The city, which is home to billionaire David Murdock’s NC Research Campus, was one of seven cities that received 2009 Excellence in Economic Development Awards for excellence in economic diversification strategies.
Posted in Biotech, Business Briefs, Economic Development, Government/Defense, North Carolina | Comments Off
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