Microsoft Pledges 1 Billion to OpenAI

On 22 July 2019,Microsoft said it has agreed to contribute one billion dollars to the non-profit company OpenAI.The advanced technology project was initially funded with a billion dollars from investors Sam Altman,LinkedIn co-founder Reid Hoffman and Peter Thiel.OpenAI was co-founded by billionaire Elon Musk and has a goal of achieving Artificial General Intelligence (AGI),which is a computer system that can learn at the human level and beyond.OpenAI intends to build a hardware and software platform of unprecedented scale.This powerful platform will train and run AI models that are progressively more advanced on the Microsoft Azure cloud computing service. *
Many of OpenAI's services will be transferred to Microsoft's Azure as well;what is more, Microsoft is the preferred partner to commercialise new services jointly pioneered by Microsoft and OpenAI.*
Mr.Musk left the project on good terms in February 2019,citing his current workload with Tesla and SpaceX,as well as disagreements about the new company's plans.
Microsoft (MSFT),LinkedIn (LNKD)

Facebook Secretly Explores Cryptocurrency Business

Until now, Facebook's Cryptocurrency venture was a closely held matter,yet news about the project has been leaking out for a few weeks.Leading the drive is the former president of PayPal, David Marcus.Facebook has also been hiring a number of staffers from the Chainspace start-up.There are more than fifty engineers engaged in the effort.*
The significance of the project,known as "Facebook Coin",is that Facebook could develop a potentially lucrative new revenue stream outside its beleaguered advertising mainstay.Facebook Coin would be tied to the company's WhatsApp messenger service.The Cryptocurrency would also be pegged to standard currencies for stability.Facebook Coin would be a global payments channel used through WhatsApp.*
At least initially,FB Coin would be a single purpose currency for micropayments and person-to-person money transfers.Later,it could evolve to such services as consumer lending.
FB Coin would allow users to send money to contacts on messenger systems across international borders.The FB Coin could be sent to friends and family instantly.
Facebook has had talks with Cryptocurrency exchanges who might sell the FB Coin to consumers.That means hundreds of millions of users could have immediate access to the Facebook digital wallet.
Unlike Bitcoin, there would be no mining process involved in FB Coin.You would not​ have to worry about the value of a FB Coin, since it is backed by Facebook bank accounts holding a basket of international currencies.*
Facebook is in the midst of interconnecting its apps Messenger, WhatsApp and Instagram.This would enable Facebook to provide Facebook​ Coin to its 2.7 billion regular users.*
Facebook stock has risen 2 percent today on an upgrade to Buy from Neutral by Instinet.So far this year, Facebook shares have gained 32 percent; while the S&P 500 has gained 10 percent
*
Facebook,Inc (FB)

Lockheed Buys Sikorsky,May Divest Some Businesses

Lockheed Martin,the world's largest defence contractor,announced today,20 July,that it has entered into a definitive agreement to acquire Sikorsky Aircraft from United Technologies for 9 billion dollars.After a tax break,Lockheed said the final cost would be 7.1 billion.*
Sikorsky is a natural fit for Lockheed Martin and complements our broad portfolio of world-class aerospace and defence technologies,said CEO Marilyn Hewson.I'm confident this acquisition will help us extend our core business into the growing areas of helicopter production and sustainment.Together,we'll offer a strong portfolio of helicopter solutions to our global customers and accelerate the pace of innovation and new technology development.*
Pending regulatory approval,the deal is expected to close by late Q4 2015 or early Q1 2016.Despite the acquisition,Lockheed will continue on course to pay dividends and buy back shares.*
Sikorsky will become part of Lockheed's Mission Systems and Training segment.Through MST,Lockheed and Sikorsky are already partners on the VH-92 Presidential Helicopter,Combat Rescue Helicopter and Naval MH-60 Helicopter.*
Lockheed is also exploring the option of spinning off or selling its government IT and technology services businesses,which comprise about 6 billion of its estimated 2015 annual sales.As global security market dynamics shift,this review will strengthen our competitive posture,enabling sustained,profitable growth and positioning Lockheed Martin to deliver value for customers,shareholders and employees,Ms.Hewson added.*
Certain defence and intelligence programmes in the Information Systems&Global Solutions segment will not be included in the review.*
Lockheed Martin (LMT),United Technologies (UTX)

Santa Claus Rally Continues;Where Oil Is Headed

I want to wish all of you a Happy and Merry Christmas.Thank you for coming to the blog.It's a Christmas party day.
Wall Street was in a party mood,with tech stocks leading the way as investors gobbled up shares of Intel,Qualcomm,Apple and Facebook.The S&P 500 reached its 50th record high of 2014 today,closing at 2078.54,up 0.38%.The Dow Jones Industrial Average also broke its record,closing at 17959.44,up 0.87%;and the NASDAQ closed up for the day at 4781.42,up 0.34%.*
I think oil probably does stay down here-maybe just a tad lower,says Dennis Gartman of The Gartman Letter.I think the time for being overly bearish on crude oil has probably passed.I doubt that we're going to see a great good deal lower from here.Clearly we see demand has decreased a good bit,and supply has increased a good deal.Libya and Kurdish have come back on the market.This was very complicated.There were a lot of things happening.
The Keystone Pipeline would have an amazing response.It can only be beneficial to us and to our Canadian friends to the north.*
I'm really skeptical about China,said author and investment banker Chis Whalen.China is pulling in credit.I think we're pretty stable into next year.I think oil will stabilise in the mid-60s.There are two stories here:large cap oil got sold off;I think you'll see the majors recover.The small ones that have been in the loan markets are going to have to deal with this.
I think in a lot of ways,consumers have still been suffering,because the cost of living still goes up.While low oil prices are good for the US,they're not good for the rest of the world.What's the catalyst for growth in the emerging markets if commodity prices are flat?Mr.Whalen inquired.*
Apple Computer(AAPL),Intel(INTC),Qualcomm(QCOM),Facebook(FB)

What Google Looks For When It Hires

Eric Schmidt,president and former CEO of Google,described the staff there as the best collection of new technologists he had seen in at least a decade,when he came to Google from Novatel.We wrote a plan with new product ideas that would redefine the conversation.You had to build a product that was extraordinarily good and fast catching-on.
You really don't want internecine competition within a company.That wastes resources.The goal is to come up with good idea and get people excited about it,not to reach consensus.The millenials we hire are better prepared,better educated,more collaborative and socially conscious.We provide everything except housing:food,a pet-friendly workplace,breakfast,lunch and dinner.*
My relinquishing the CEO position has been an exceptional transition and very good for everyone.I moved on when I realised that Google founders Larry Page and Sergei Brin had become seasoned industry executives.The Google board has about nine or ten members,a third of them women.*
We look for smart creatives.They must be technical in something,analytically.They must have some business acumen.They have to be curious.We want those with great insights and ideas-even if they're wrong.In every survey,Google is rated the number one place to work for new graduates.Often the best referrals are from colleagues.The top students have a natural interaction with faculty.We want people who are busy.The world changes because people are passionate.This is your identity.It's not a job;it's a calling.
They'll figure it out if you let them.Large corporations tend to operate with a one year time frame.You have to figure out how you are going to deal with new ideas over the next five years.The characteristic today is that new ideas happen faster,Google president Eric Schmidt pointed out.*
Google,Inc(GOOG)

Tech and Oil Deals;Inflation Rising

I am looking for tech deals and oil deals,said CNBC host Jim Cramer.Oracle should buy Concur Solutions-it's such a great company,I can't believe it's still independent.Anadarko Petroleum's now a clear story.It's one of the great oil stocks that's been held back by litigation.
Hillshire Brands-this is Sara Lee.Sara Lee,congratulations."We break out Hillshire Brands and we see the hidden value in Hillshire." Now Pilgrim's Pride and Tyson Foods want to acquire Hillshire.
With Twitter,a lot of what's going on is,people realise the shares lockup has expired.If you can make Twitter into something that you don't have to tweet,but still use as your personal news service,then I am positive on Twitter.*
There's been significant buying of Interpublic Group,and people are saying it's by Elliot Management Group,points out Cramer's colleague David Faber;while Beats was bought by Apple for three billion.Apple seeks the most innovative products and services.They got Dr.Dre and Tommy Iovine in the Beats deal.It's a play for wearable tech.*
Fundamentally,inflation is picking up across the board,said John Brynjolfsson of Armored Wolf Investments.Wage inflation is picking up.
I don't think Fed policy has untimately changed the laws of physics.It doesn't make sense to have a zero percent Fed funds rate.It's not a logical equilibrium.I'm long bunds right now,short treasuries.I'm very uncomfortable with the size of the Fed's balance sheet.It can't get out of hand.That's why it's better to tighten sooner,rather than later.*
Apple(AAPL),Hillshire Brands(HSH),Anadarko Petroleum(APC)

Philips,GRMC Sign Big Health Care Pact

Georgia Regents Medical Center and Koninklijke Philips NV have inked a 15 year,300 million dollar partnership agreement of unprecedented scope in the US.It promises to address current and future clinical,operational and equipment needs across GRMC's many facilities,at a fixed operational cost over the 15 year period. Four to six million GRMC patients in Georgia and South Carolina stand to benefit from the collaboration.It encompasses consulting services;advanced medical technologies;operational performance;planning and maintenance services. The goal is to deliver faster,more effective and cost-efficienr care from diagnostics to therapeutics,to inpatient and outpatient clinical services.The pact will cover all medical specialties and enhance medical research and clinical technology R&D for care delivery innovation. Philips will provide imaging systems;patient monitoring and clinical informatics;lighting and consumer products;as well as rapid access to new equipment and educational resources. Deborah DiSuizo,CEO of Philips Healthcare,said we are proud to embark on this transformational alliance,as we share the vision that we can create the future of healthcare by creatively and efeectively meeting the long term care needs of patients. Philips has entered similar but smaller scale agreements with hospitals in Europe,Asia,the Middle East and Africa that have proved successful in improving patient outcomes and controlling costs. Koninklijke Philips NV(PHG)

Hewlett-Packard:Head in the Cloud

Our cloud strategy is,the cloud that the enterprise can rely on,said Hewlett-Packard CEO Meg Whitman.I had said eBay was my last CEO job.I have met over 500 customers in the past 18 months or so,and every one wants HP to win,and that's why I took the job:because it matters.
When you put the right HP people in the room,no one does it better.It's about time to market,the innovation you're going to bring.It's a very competitive world.You're gonna win some,you're gonna lose some.
We will reduce headcount by about 24,000 over three years.We're about halfway through.The way tech is bought,consumed and payed for is changing fast.It's cloud,it's mobility-the new style of IT.The enterprise has to get from where they are to where they want to be.IT has to drive revenue.
We have to outwit,outsmart and and outcompete our competitors,and that's what we aim to do.We did increase R and D,but we also narrowed the scope of it.It is so much fun to watch our R and D engineers.That sroke of genius we're known for is still very much alive today,Ms.Whitman indicated.
HP stock closed at 25.16 on Monday,up 1.69%.
Hewlett-Packard(HPQ)

Should You Invest in CME Group

CME Group is a global futures exchange.It trades futures and options on currencies,commodities,interest rates,stock indexes and agricultural commodities.
We saw a real downturn in 2012.Our volumes are OK.There's been a lot of activity in energy and foreign exchange,said Terry Duffy,CME Group CEO.Gold coins didn't trade down.They're of more value than anything else.
Operational risk is what we all have.We're deploying so much technology on a daily basis.It allows us to be in 150 countries.The single largest investment CME has made in 150 years is technology.It's very expensive.
We pay one of the biggest dividends in the S and P 500.We feel very confident we've put the pieces together,that we can compete with anybody.
It's getting a little crowded,but that's alright.We have innovated for over a hundred years because of competition,and we think it's good,Mr.Duffy explained.
CME had a rough Q1.Profit was down 12.0%;revenue dropped 7.0% and trading fees declined.The stock was up 0.53% in Monday trading.CME has a market cap of 20.35 billion dollars.
CME Group,Inc(CME)

IBM Jobs and Culture

IBM has some questions for you:
Can you identify trends?
Can you think strategically?
Are you an innovator?
Are you ready to make the world work smarter?
ARE YOU AN IBMer?
IBM Global Business Services is holding a Recruitment Open House on Thursday,February 16 from 10am-3pm at
The Westin BWI
1743 West Nursery Rd.
Linthicum,MD 21090
For a list of openings and to pre-register,visit IBMexpo.com
Culture:Hard work.Over the past decade,IBM employees have made some interesting observations about their corporate lives that give one impressions of the ambience there.For example,the company doesn't seem to care what hours you work,as long as you meet deadlines and are on budget.Indeed,working at home is often permitted.
You get 2-3 weeks vacation a year.Whether you take it or not is up to you.
Salaries are at a standard level.
You are rated on your commitment to the business on a numerical scale,with 1 being the best grade,and 4 being grounds for dismissal.It is common for people to put in 70 hours a week-including Saturdays-and there is no overtime pay.There's no time for clock-watching there.
Employees over and over again note the high quality of their co-workers.They are considered to be top notch tech pros,the best in class.
0n a scale of 1-5,with 5 being the best grade,many employees rated their jobs as between a 3 and a 5.These generally feel the experience is mostly positive and are glad to work for IBM,looking at the big picture.Workers in India repeatedly praised the understanding management and work/life balance.
As of 2011,about 368,000 people worked at IBM worldwide.Five of them have received Nobel Prizes for their achievements.The company is a virtual patent mill.IBM's products and services are highly regarded by their customers.
The overall impression is,it's a high-powered environment,similar to that found in other large and successful companies.After all,you don't get to where IBM is by goofing around.They're prestigious for a reason.
International Business Machines(IBM)

More IT For Patients:WellSpan Offers New Portal

WellSpan Health,an integrated health care system for the people of south central Pennsylvania and northern Maryland,has established a new patient portal,My eCare.Patients are now able to access lab test results or make an appointment through My eCare.They can also send questions to their doctor's office and receive a response within 48 hours.The service is not for usage in an emergency.
A free service,My eCare is described as the most convenient way to manage your health care.
WellSpan Health,anchored by Gettysburg and York Hospitals,includes 47 primary and specialty physician practices,as well as pharmacies,labs and health centers.It is a private,non-profit community resource with the mission of providing high quality,cost-effective and compassionate health care services to all patients.
In addition to My eCare,WellSpan Health employs an electronic medical records system.

Jobs Alert:Health Plan Support Positions

An affiliate of CareFirst,Inc.,the parent of CareFirst BlueCross BlueShield,Service Plan Administration Services Corporation,has multiple openings in Information Technology,Accounting and Compliance.SBPASC provides business processing and technology infrastrucure for a leading Federal employee health plan,the Blue Cross and Blue Shield Service Benefit Plan.SBPASC is a financially strong organization,fully invested in maintaining its leadership position.The opportunities are in software engineering,architecture,requirements analysis,configuration management,automated testing,technical management,accounting and compliance management.
See where they can take your career.An open house will be held on Wednesday,June 23 from 4-8 p.m. at
1280 Maryland Ave.,SW
Washington,DC
To learn more,visit www.SBPcareers.com