Idola Infotech, LLC. (http://www.idolainfotech.com), a leading provider of risk and compliance services to global financial institutions, announced today that Salvatore Cangialosi of The Josefa Group will serve as a consultant to Idola focused on strategy and business development initiatives. In this new role, Cangialosi is tasked with developing the vision and business strategy to further Idola’s industry leadership position and establish a framework for significant ongoing growth. He brings extensive experience in identifying and developing new markets through the application of leading-edge solutions to major business problems and opportunities.
“We enthusiastically welcome Salvatore Cangialosi to our team as Senior Strategic Advisor,” said Mahesh Viswanathan, founder and Managing Partner of Idola Infotech. “Sal has proven himself as a visionary in anticipating market needs, developing cutting-edge products and services that defined industry standards. We believe that in this new role he will be instrumental in helping Idola develop strategic relationships, identify new opportunities and further establish its position as a leader in providing products and services to the financial sector.”
via Idola Infotech Appoints Salvatore Cangialosi of The Josefa Group as Senior Strategic… | Reuters .
Chrysler, one of the three pillars of the American auto industry, filed for bankruptcy this afternoon after last-minute negotiations between the government and the automaker’s creditors broke down yesterday. U.S. officials had offered Chrysler’s secured lenders $2.25 billion in cash if they would agree to writedown the $6.9 billion in secured debt that the company owed. But a small group of hedge funds refused the 11th-hour deal.
via Chrysler to File for Bankruptcy – washingtonpost.com.
Wolfram Alpha is the brainchild of British-born physicist Stephen Wolfram.
The free program aims to answer questions directly, rather than display web pages in response to a query like a search engine.
The “computational knowledge engine”, as the technology is known, will be available to the public from the middle of May this year.
“Our goal is to make expert knowledge accessible to anyone, anywhere, anytime,” said Dr Wolfram at the demonstration at Harvard Universitys Berkman Center for Internet and Society.
The tool computes many of the answers “on the fly” by grabbing raw data from public and licensed databases, along with live feeds such as share prices and weather information.
People can use the system to look up simple facts – such as the height of Mount Everest – or crunch several data sets together to produce new results, such as a countrys GDP.
via BBC NEWS | Technology | Web tool as important as Google.
If you have read this hijack, check this new one:
A speeding electric suburban commuter train, suspected to have been “hijacked” by unidentified persons, rammed a goods train early this morning, killing four persons, including two of the suspected “hijackers”, and leaving 11 others injured, five in serious condition.
The crash, which took place at Vyasarpadi Jeeva station shortly before 5 am, sounded alarm bells across the railway and security establishments, fuelling rumours aplenty — the handiwork of LTTE sympathisers, a terror strike or simply an act of sabotage. Railway officials pointed out that had the incident taken place during rush hour, the casualty figures could have been very high.
via Four killed in mystery train ‘hijack’ at Chennai station.
Comptroller of the Currency John C. Dugan stated, “As a parent, one area of financial literacy that is especially important to me is that our children learn how to make the right financial choices before they leave home. These school-based bank programs are productive collaborations between banks and schools that share a mutual interest in providing financial education to students eager to learn.”
The OCC encourages bank participation in financial literacy initiatives such as school-based bank savings programs. Students involved in these programs receive “hands-on” learning, while banks gain added visibility in the communities they serve.
This Insights report explains how the various school-based bank savings programs operate and describes the potential risks and benefits, including positive consideration under the Community Reinvestment Act, that banks participating in these programs may receive.
via OCC News: School-Based Bank Savings Programs: Bringing Financial Education to Students.
The major banks that loaned Chrysler LLC about $7 billion have agreed to significantly reduce that debt, according to the Treasury Department, a move that could save the struggling automaker from having to file for bankruptcy later this week.
“The agreement from Chryslers principal banks is an exceptional accomplishment in line with the Presidents firm commitment that all stakeholders sacrifice to make this deal succeed,” said an administration official Tuesday.
The company still needs to win a rank-and-file ratification vote Wednesday of a tentative labor deal reached with leadership of the United Auto Workers union late Sunday, and wrap up an alliance with Italian automaker Fiat before the Thursday deadline set out by the federal government.
via Chrysler debt deal reached, bankruptcy may now be avoided – Apr. 28, 2009 .
Here is the show detail about one of my colleague’s makeover to his deck recently which aired on DIY. Guys, its worth watching
Geff and Tiina Vitale have a home just down the road from the Jersey Shore. They have an old deck attached to their house and they want to try to salvage as much as possible. Also, the Vitales would like to rework the deck in the dead of winter, so they can enjoy the renovated deck in the Spring and Summer. Geffs idea is to detach the deck from the house, knock out every-other plank, save the remaining ones, but add new wood to create a sturdier, bigger deck. Geff and Tiina have a newborn, so Tiinas limited with the amount of work she can contribute, so Geff recruits his best friend, Jay. Jay however, is the last one to know that hes in it for the long run. Aside from the deck being a bit of a bear to restructure, below freezing temperatures only add to the difficulty of the job. This is one show that truly tests friendship during the renovation process.
via Shows A – Z : Renovation Realities : The Vitale Job : DIY Network.
Scientists at GE’s Global Research Center in upstate New York announced a breakthrough in the pursuit of holographic data storage today. They have successfully demonstrated technology that can put 500 gigabytes onto a single DVD-sized disc.
via GE unveils holographic disc breakthrough | GE Reports .
Asian investments in hedge funds may have declined by 40 percent over the 18 months to mid-2009, said an official of Bank of New York Mellon Corp., the world’s biggest custody bank.
The value of institutional and wealthy individual holdings in hedge funds will fall to $206 billion by June from $344 billion in December 2007, said Andrew Gordon, the bank’s Hong Kong-based executive vice president of financial markets and treasury services. Government entities such as sovereign wealth funds will help drive a recovery in the dollar value of Asian hedge fund investments to $382 billion by 2013, he said.
via Asian Hedge Fund Investments May Have Fallen 40% Update1 – Bloomberg.com .
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