NEW YORK, NY–(Marketwired – May 8, 2013) – Infinity Augmented Reality, Inc. (“Infinity Augmented Reality” or “Infinity AR”) (
NEW YORK, NY–(Marketwired – May 8, 2013) – Infinity Augmented Reality, Inc. (“Infinity Augmented Reality” or “Infinity AR”) (
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Expert Group, Inc. d/b/a Pleasant Springs receives financing approval from TricorBraun.
TIGER, Ga., Jan. 11, 2013
F1 manufacturer McLaren is applying its world-class expertise to new markets – and not just racing cars
Secretive billionaires, princes and superstars might supply the Formula One circuit with its brash glamour and pageantry but when the season returns with a roar in March, two of the cars tearing round Melbourne’s Albert Park will have been constructed in a sleepy corner of Surrey.
The McLaren Technology Centre (MTC) in Woking, exemplifies the quieter fortune being made by the UK motor sport industry: the Norman Foster-designed building is the centrepiece of a sector worth around £6bn to the UK economy. Eight of the dozen F1 teams who competed in last year’s championship are based in the UK, and McLaren, which came third in the constructor’s league, is one of its most successful participants.
At McLaren’s headquarters, the relentless pressure of the F1 calendar is distilled to a zen-like focus. Long white corridors and glass lifts take visitors to an indoor boulevard: historic McLaren vehicles are lined up on one side, and an artificial lake can be glimpsed through a glass wall on the other.
Ron Dennis, executive chairman of the group, which is majority owned by Bahrain’s sovereign wealth fund, describes the atmosphere as “a reassuring hush”. The new racing car is being built behind frosted glass at one end of the boulevard. But McLaren is looking beyond motor sport: last year it opened a production centre next door, where it builds the 12C and 12C Spider sports cars – offshoots of decades of competing in the upper echelons of F1.
Production of the £200,000 12C model is overseen by Mike Flewitt, who managed production of 8,500 vehicles a day when he was vice-president of manufacturing at Ford of Europe. McLaren produced a total of 1,552 cars in the whole of last year. “We are a road car company that has developed from a race car company,” he says. “This is McLaren standards applied to state-of-the-art vehicle manufacture.”
At Ford, Flewitt operated to a cycle time – the time taken by a production line task – of 45 seconds. At McLaren it is 45 minutes. There is no conveyor belt, no noise from stamping machines or robots. The only sound is the squeak of tyres as completed models are driven across the white-tiled floor into testing booths.
Flewitt says: “If you have a white floor, it creates an imperative to keep it clean. It looks like this because we want it to be a great working environment. I also believe the aesthetic is vital. This gives you confidence in the quality of the product. It is difficult to give people that confidence if you work in a tatty facility.”
In contrast with mass-market manufacturers, the paint finish is applied manually by specialist staff rather than by robots. I watch Flewitt submit a finished 12C Spider bound for Singapore to a minute inspection. He praises the way the volcano-orange paint has been sprayed on to the contoured vehicle. “Paints have different compositions,” he says. “The sprayer’s art is to understand the model so you get an even finish.” There would be no financial or aesthetic gain from spending millions of pounds on paint-spraying robots, he adds, instinctively flicking away a dust mote. Like their mass-produced counterparts, the majority – eight out of 10 – of McLaren sports cars will be exported. Four dealerships are opening in China this year.
Elsewhere in the building are other examples of McLaren excellence, overseen by its McLaren Applied Technologies (MAT) arm, which supported Team GB in cycling, canoeing, rowing, kayaking and sailing at the 2012 Olympics.
The rationale behind MAT is that McLaren should make more financial gain from its world-class abilities in design, analysis and production. At one end of the boulevard, propped next to an F1 car, is the £25,000 Specialized S-Works Venge bike ridden by Mark Cavendish in the 2011 Tour de France, which McLaren helped design. The director of MAT, Geoff McGrath, says McLaren’s skills in telemetry, or monitoring a car’s performance through accumulated data, are the key. This allows McLaren to simulate how a car, or any product, will perform by building a computer model of it.
McGrath says: “We took a formula that worked very nicely for racing car design, then applied it to road car design, then bike design. We take the knowhow, the skills that we never commercialised, and hundreds of millions of pounds of research, and apply it to new markets.”
The healthcare market is the company’s next target, he adds.
The British automotive industry has delivered a strong performance in the post-crunch doldrums. But although Nissan added a further 280 jobs at its plant in Sunderland last month, carmakers are unlikely to open new sites here; what is more probable is that they will follow the example of home-grown Jaguar Land Rover, which recently started work on a factory in China. Instead, the hope is that suppliers – the makers of nuts, bolts and components – can spur domestic growth. There is an estimated £3bn worth of unsatisfied demand for UK-made components.
Flewitt says about 50% of the McLaren sports car’s suppliers are UK-based. But the key, state-of-the-art component, its carbon-fibre chassis, is made in Austria. Flewitt believes that could change – McLaren has already done much of the hard work by designing the kit.
“It is a technology where we in the UK can be very competitive,” he says, adding that the government can help by bringing in production partners and wooing potential customers.
Nick Henry of consultancy ICF GHK says Britain’s F1 industry has dominated the sport for more than 30 years despite attempts to develop rival hubs in Bahrain, Malaysia and South Africa: “The history of F1 is continued UK success in the face of globalisation, which is chipping away at it but feeding its growth at the same time. These are flexible small and medium-sized businesses doing high-quality engineering. There has been churn in [team] ownership but behind it this core of British engineering creates products the world pays for.”
Amid the clamour over the need to rebalance Britain’s struggling economy, the long-term success of the country’s motor sport industry offers a quiet lesson in how it can be done.
Category : World News
WELLINGTON, NEW ZEALAND–(Marketwire – Nov. 30, 2012) - Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) (“Glass Earth” or the “Company“) announced today that it has filed its September 30, 2012 third quarter Financial Statements and associated Management’s Discussion and Analysis (“MD&A“) report pertaining to that period with regulatory authorities.
In accordance with ASX guidelines, Dyesol is responsible for monitoring media and chat forums to ensure that its shareholders are fully informed in relation to Company activities. After a media release by Swansea University and press coverage in the UK late last week, Dyesol considered it prudent to place its securities in trading halt pending clarification of the release and to avoid the possibility of a two-tiered market, where one group of investors might have greater access to price sensitive information than another.
Anthropologist Melissa Fisher spent over a decade collecting the memories of the first women to break into finance. Joris Luyendijk weighs up what has changed for female bankers
This was life on Wall Street only 50 years ago: “The secretaries all had to wear hats and gloves. In the bathrooms, they had light bulbs with the partner’s [boss's] name. The partner would ring you up. If you were in the bathroom, you had to run out immediately.”
One question on an entrance exam paper for a trainee programme at Merrill Lynch in 1972 read: “When you meet a woman, what interests you most about her?” The correct answer was beauty. Low scores were given for those who answered intelligence. There was, of course, no question about what to be interested in when meeting a man.
Yet a few dozen determined and tough women did manage to break into this world four decades ago. Now their stories are being told and analysed by Melissa Fisher, an anthropologist from New York University, in her book Wall Street Women. Fisher interviewed the women from the mid-90s through to the financial crisis of 2008 and the result is a compelling picture of just how far women have come – and how far they still have to go.
Over the past year I, too, have been interviewing, for this newspaper, dozens of women working in finance in London. Most are under 35 and weren’t even born when Fisher’s informants began their careers. It is striking how much has changed in two generations.
Today’s young investment bankers have been wined and dined by the major banks and financial firms almost from the first day they set foot in their top university. None of Fisher’s cohort came from prestigious institutions (Ivy League universities weren’t even open to women until the late 60s) nor was there a recruitment circus. Instead, the first women bankers and brokers found their jobs by responding to newspaper ads, or through friends. Once hired, they went to business school in the evenings, where they met other women. It was this support network that helped them figure out what to wear in a meeting, what to do at a social function and how to deal with difficult or sexist bosses. “This was before such words as ‘networking’, ‘coaching’ or ‘role model’ were even used,” Fisher says.
Forty years ago, a career in finance wasn’t glamorous, lucrative or controversial. Instead, banks were seen as boring – ambitious graduates preferred the business world. Today, the starting salary for an investment banker in London is around £45,000 plus bonus – making finance easily the best-paying industry for graduates. But the other side of the coin is that never in modern history has banking and finance had a worse image than now. This generation’s women bankers in London say it’s far harder to be a banker in society than a woman in banking.
Institutionalised sexism in finance seems eradicated, say young women bankers, as banks and firms fear expensive lawsuits and bad publicity. But on the top floor the glass ceiling remains, with women massively underrepresented in senior positions. Not a single global bank is run by a woman.
Virtually everyone I have interviewed says they want more women in top positions. But none is in favour of quotas, arguing that these fatally undermine women’s credibility in the daily office battles and would even prove counterproductive.
At the same time, Fisher says, the arguments for more women at the top of finance are shifting in fascinating ways. In the 70s, women gained entry into finance at the price of accepting traditional roles and norms. They played on traditional connections between femininity, motherhood and work, Fisher writes, arguing in interviews with her that being a woman made them good at analysing stocks: “They would tell me, ‘Women have a lot more respect for the concept of risk. This serves them well.’”
But now, after the financial crisis, a new argument is developing: might women actually be better stewards of the financial sector? Before emancipation, women were cast as too emotional and fundamentally unserious, and hence not suited for bearing heavy responsibility in society. After the crisis, it is now male traders and bankers who are portrayed in that light; driven by the emotion of greed and machismo, and slaves to the thrill of ever greater risks.
Will this shift in public discourse affect women’s chances of breaking through the remaining glass ceilings? Fisher describes in her book how women reacted with alarm and despair when, following the crisis, the three highest-ranking women on Wall Street all lost their jobs in rapid succession. A disproportionate number of lower-ranking women were culled, too.
Fisher’s book ends with mixed feelings. Looking back, the first generation is immensely proud to have made it. But they are frustrated with the tenacity of male domination, with some of the women embracing the idea of quotas. They are also frustrated with what they see as the new, more individualist generation of women in finance who don’t seem as committed to take the fight to the next level, viewing their rights as “entitlements” instead. As one of the most successful pioneers puts it in the book: “Some women open the door, the others walk through”.
Melissa Fisher will be discussing her book and the glass ceiling in the comment thread on Monday 20 August at 8pm.
Over the past 12 months the Joris Luyendijk Banking Blog has interviewed dozens of women in finance in London. This piece talks about what it’s like to be a woman in today’s financial sector in London.
Category : Stocks
Many of the 103M Facebook (FB) monthly users who only used mobile devices in Q2 appear to be in emerging markets: the company has mentioned 90% of African users rely on phones, and 30% of new Indian users register via phones. The glass half-full view, in light of Facebook’s mobile ad issues: these markets are less lucrative to begin with. The glass half-empty view: these markets are now responsible for most of Facebook’s user growth. 11 comments!
See original here: Many of the 103M Facebook (FB) monthly users who only used mobile devices in Q2 appear to be in emerging markets: the company has mentioned 90% of African users rely on phones, and 30% of new Indian users register via phones. The glass half-full…
Google (GOOG) has thousands of brilliant engineers, but do they understand consumers? Gizmodo’s Sam Biddle has his doubts after going over Google I/O’s product announcements. The sharing features of the Nexus Q streamer, panned in reviews, don’t “sound like any fun unless you’re an Android engineer.” Google+’s new “party mode” feature “is as painfully dorky as it sounds.” And the adoption of Project Glass requires “not just a leap in technology, but in culture.” (also) 9 comments!
Read this article: Google (GOOG) has thousands of brilliant engineers, but do they understand consumers? Gizmodo’s Sam Biddle has his doubts after going over Google I/O’s product announcements. The sharing features of the Nexus Q streamer, panned in reviews, don’t…