Category Archives: Company Finances

IBM, the New Louvre Restorer

MEXICO CITY – IBM will become the ‘restorer’ of more than 65,000 pieces of the Louvre Museum, after the organization’s most visited museum in the world will select the technology to expedite the repair process works so automatically.
The gallery designed a database with information of the pieces on display there in order to help your staff to view their different planning, cleaning and maintenance works as well as automation systems such as air conditioning elevators, as well as lights and locks for each of the spaces of the museum.

“Organizing hundreds of repairs, cleaning and maintenance while the galleries are open to the public is a very challenging activity, now we can make better decisions about how to respond to problems,” said Metin Pelit, department manager of the Museum of Louvre, Paris , France.

The team from the Louvre to this type of inspection on a weekly basis, in a database that is handled physically. With this system, the museum now can add to your list of new digital works that come to the site and verify real-time information and the state in which they are.

“The technology allows you to ‘hear’ the information they have these parts. The Louvre Museum needed a way to preserve the art infrastructure and living here so that the public will appreciate, “said David Bartlett for his part, Vice President IBM solutions.

In addition to schedule the time that the parts need updating, the technological system can recommend a number of specialists to give special care to a work that needs urgent restoration or exhibition you need to leave to avoid wear.

IBM was founded on June 16, 1911, has more than 420,000 employees worldwide and a presence in over 200 countries. In the ranks of workers has had five winners of Nobel Prizes, four Turing Awards, five National Medals of Technology and Science five national awards.

IBM competes in the technology market with companies like Hewlett-Packard, Microsoft, and Oracle.

31 Banks Facebook Guide to Wall Street

NEW YORK, United States – Facebook has become friends with new underwriters for its upcoming initial public offering (IPO) , according to the last presentation of the company now number 31, a sharp increase from the 6 that had at first.

That amount might be excessive, but the influence of the social network makes additional resources to organize and brighten its reputation at minimal cost, if any.

Mark Zuckerberg’s company expects to sell lots of expensive actions, for 5.000 million dollars or more, which increases the value of Facebook to 100.000 million. That’s one reason to call a large number of vendors with access to different investors.

Since 2005 there have been 14 IPOs in the U.S. with more than 20 underwriters, according to Thomson Rueters. Microsoft had more than 100 of them for going public in 1986, capturing only about 60 million dollars.

Investment banking has been concentrating more and more in recent decades according to research by Liu and Jay Ritter Xiaoding, professors at the University of Florida, which makes banks less involved in each operation. And the technology facilitates the handling of larger deals.

Therefore, Facebook could not actually need all of these banks.

Furthermore, there is a clear connection with the performance of the action. Tenders with only 10 showed a similar return underwriters for one day , one month and six months for those over 20, according to Reuters analysis.

However, there are other reasons why having more banks.

Banks participating in an IPO are essentially putting their stamp of approval on the company and its valuation. Many reports will be produced later, presumably with a favorable attitude.

But the underwriters can not publish reports in the run up to the closing of the offer, reducing the chances of a negative environment.

For Facebook there is also another argument. The pension system of the teachers of the state of California last month criticized the company for having a board composed entirely of white men.

Rightly or wrongly, add smaller banks led and founded by women and representatives of minority groups, such as Muriel Siebert & Co. and Samuel A. Ramirez & Co., could help quell the controversy.

And with the scale of Facebook, add more underwriters is unlikely that the operation more expensive, if it generates an extra cost. The company will only pay a portion of the fee of 7% expected by underwriters, because everyone wants to participate in a big operation.

Some of the banks that have joined the operation can be friends of convenience rather than necessity. But ultimately they are still more than a cheap insurance.

The Candy is Safe, Says Coca-Cola

MEXICO CITY – Coca-Cola Company said the candy used for your drinks is safe and approved by authorities in more than 200 countries, including Mexico.

The company reiterated that it is changing the formula of their products in California, United States or elsewhere.

This after Friday will report that Coca-Cola and PepsiCo are changing the way they make the caramel coloring as a result of a law in that state to require that beverages with a certain level of carcinogens carry a warning label.

“While we disagree with the position of California, the company asked the candy manufacturers to modify the production process of 4-MEI to meet local requirements, so that our products must bear a warning not scientifically unfounded. This change will affect neither the formula nor the great taste, and high product quality that consumers expect to receive from the company, “the company said in a statement.

Coca Cola said that the color of caramel employee is authorized even by the Agency for Food and Drug Administration (FDA) of USA and the European Food Safety Agency (EFSA).

He said that in early 2011 the European body reaffirmed the safety of the substance after a routine search of food coloring.

He stated that this review was based on risk assessments and scientific principles based on evidence, so he said, California’s position is not supported by science.

He added that no public health risk in California or elsewhere.

“Our commitment to the highest quality and safety of our brands remains our top priority, and will continue to rely on solid scientific evidence to ensure the safety of our products,” he said.

Earlier this week, the Center for Science in the Public Interest (CSPI, for its acronym in English), a U.S. regulatory group, said it had found “dangerous levels” of chemical cans of Coca-Cola, Pepsi- Cola, Dr Pepper (Dr Pepper Snapple Group Inc) and 365-Cola, Whole Foods Markets.

The U.S. FDA said that studies the request of the group, but stressed that the drinks are still safe.

A spokesman for the U.S. agency said a person would have to take “more than 1,000 cans of soda drinks per day to reach the dose administered in the studies that have demonstrated their link to cancer in rodents.”

Renault Announces Smaller Profit for 2011

Profit for the French group Renault, owner of car maker Dacia, has stalled last year because of lower sales in Europe for the fourth consecutive year and increasingly severe competition impact on prices.

Profit before interest, tax and exceptional items has stagnated at around 1.1 billion euros, according to a release issued Thursday by Renault.

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BPOs in danger


MANILA, Philippines – The call centers or Business Process Outsourcing (BPO) industry in the Philippines is in danger to be stopped.

This was when the United States Congress passed a bill forbidding U.S. companies to outsource their operations in the Philippines.

According to Eastern Samar Rep. Ben Evardone, the head of the U.S. Congress has to lobby and block the House bill 3596 or Call Center and Consumers Protection Bill that was served by representatives Tim Bishop (New York), David Mckinly (West Virginia), Mike Michaud (Maine) and Gene Green (Texas).

The aim is to discourage U.S. companies to outsource their operations. Failure to comply will result a $10,000  fine per day, if reported to the U.S. Department of Labor for not abiding to the said law. They will also be prohibited to get their federal grants and loans within five years.

Evardone added that if this bill would be passed, there would be a big and negative impact to the BPO industry in the Philippines, because a lot of Filipinos will be left unemployed.

The BPO is the second industry that opened a great opportunity for many Filipino people, wherein around 400,000 are working in different BPO companies all over the country. This is followed by the Overseas Filipino Workers.

During the past year, the BPO industry gained around $9 billion dollars which is equivalent to 4-5% of the Philippines’ GDP.


Mitsubishi stops production in Europe

Japanese carmaker Mitsubishi Motors will stop production of cars in Europe this year.

The company becomes the second Japanese automaker to do so after the onset of the global financial crisis, says Reuters.

The company said that by 2013 cars will cease production at its plant in Born (The Netherlands), which are assembled model subcompact Colt and Outlander SUV. However, Mitsubishi Motors will continue to sell cars in the European market but those vehicles will be produced either in Thailand or Japan.

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