New law to curb ‘reckless lending’

first_img27 July 2006South Africa’s Ombudsman for Banking Services is experiencing an increase in complaints from consumers who have run into financial trouble after taking up unsolicited offers of credit from the country’s major banks.This is according to the Ombudsmans’ complaints investigation manager, Advocate John Simpson.Simpson told the SA Press Association (Sapa) on Wednesday that once people started falling behind with their repayments, the interest and legal costs snowballed, often leaving the borrower with a lifelong financial burden.“We suspect, from what we have heard, that the banks are engaging in an all-out drive to gather as many clients as they can ahead of the National Credit Act coming into force in June 2007,” Simpson told Sapa.The new law aims to stamp out “reckless lending”, which includes entering into a credit agreement likely to leave the consumer over-indebted.The Act will also prevent credit providers from increasing borrowers’ credit limits without first complying with prescribed formalities.Source: BuaNewslast_img read more

Process Loss and Cross-Functional LP Teams

first_imgAsk any loss prevention team what the most important aspect of interfacing with senior management is, and you’re likely to hear the terms “partnerships” and “cross-functional.”These elements are not specific to the loss prevention industry. You would probably hear a similar response from an executive in any other department.Working cross-functionally is a critical component to a successful loss prevention program. Loss prevention departments often add value to the organization by assisting other business units with their unique investigative and technological tools. Additionally, there may be times in which those business units return the favor.- Sponsor – Organizations call upon the diverse skills of cross-functional teams to tackle complex issues in the organization.For all the value that cross-functional teams provide, it is worth understanding their flaws. This may be best explained by the social psychology concept “process loss” related to group decisions.Process loss is a general term that describes inefficient problem-solving in groups.Psychologists found that groups tend to focus on the information that they have in common, rather than their specialized knowledge.For example, a group containing IT and loss prevention may focus on areas of knowledge overlap rather than deploying their specialized knowledge, which is the entire point of a cross-functional team.Researchers demonstrated this concept by giving two groups information related to a political candidate, in which positive information was double that of negative information in both groups.However, one group received individual items, in which the negative information overlapped among group members. This group chose to discuss the information they had in common with each other (negative), which resulted in a much greater negative opinion of the candidate compared to the other group.In the 1950s, researchers demonstrated individual participants’ desire to conform to a group majority in a series of psychology studies referred to as the Asch conformity experiments. In these tests, researchers demonstrated that group members changed their opinions based on the overall attitude of the group. Said another way, the group members showed that they did not want to “rock the boat.”Unfortunately, sometimes the boat needs to be rocked if the data suggests that it should. Some participants may feel pressure to compromise even when they should not. Conformity in these situations is detrimental to the success of the organization.In another example of process loss, groups have the ability to ignore the expert on a subject and democratize decisions. If the majority feels one way, they may reach a decision regarding a subject about which they have no expertise.Imagine a cross-functional group overriding the organization’s legal team regarding a legal matter. In these instances, it may be best to allow the subject matter expert to make the call. In the loss prevention industry, we may see this happen regarding allocating physical security resources. If best practices are ignored, there could be some creative reasoning regarding where resources go. This decision could ultimately result in liability for the company.It doesn’t make sense to label cross-functional teams as bad. They’re not. Moreover, cross-functional teams are vital to the professional growth and skill sharing of an organization. However, it’s important to understand when a cross-functional loss prevention team may be going off the rails.Recognizing knowledge overlap and conformity can give group members the ability to step back and refocus. Unfortunately, claiming to be the expert isn’t the most effective way to convince a group. In this case, partnerships and influence are key. If you’re an influential loss prevention director or other business partner, everyone probably already knows you’re the expert.This article was originally published in 2014 and was updated September 17, 2018.  Stay UpdatedGet critical information for loss prevention professionals, security and retail management delivered right to your inbox.  Sign up nowlast_img read more

Data Storage: SDS: Dumbing Down Storage Hardware to Achieve Greater Efficiencies

first_imgLike SDN, this trend towards using a software strategy to simplify the base storage hardware components is being called Software-Defined Storage (SDS).   SDS is about separating out storage management features from storage devices.  The idea is that cheap commodity storage units could be controlled at the software layer to enable storage functions like de-duplication, replication and thin provisioning. How to reduce data storage costs?  Some think that data storage hardware needs to be dumbed down.  Similar to the work being done on Software-Defined Networks (SDN) to dumb down networking hardware components like routers and switches, some are trying a similar approach with storage devices.  Work being done by Facebook on the Open Compute Project is one example.  The Register recently described work being done by Frank Frankovsky, who leads the Open Computer project at Facebook, as an attempt to simplify data storage by eliminating “vendor-specific frippery and feature froth in favor of raw, vanilla stripped-down, back-to-basics hardware features that deliver low cost, low power use, high performance and cost-efficiency in hyper-scale data centers.” It’s estimated that there will be 4 zetabytes of information created this year and 2 zetabytes of that will be saved on some sort of storage medium.  How much is that?  A lot.  EMC estimates that the in 2013 that the data storage market will be a $100 billion business.Dick Csaplar, senior research analyst for Aberdeen Group, found that businesses spend about 12 percent of their IT budget on data storage and that their needs are currently doubling every year.  He said that “The demand for storage is growing at an unprecedented rate… You think about what percentage of your IT budget go towards storage, and now start doubling that every two years, you’ve got to rob from other portions of your IT budget or you’ve got to figure out smarter ways to deal with this.”center_img Keith Norbie, vice president of Nexus, said that “The whole reason the term exists is to give storage the play the software-defined networking movement has.  The problem is, we already have software-defined storage. But we lacked the ability to really define it.”last_img read more

Tennessee ~ Franchise Tax, Practice and Procedure: Notice Regarding Alternative Method for Estimating Franchise and Excise Tax Discussed

first_imgThe Tennessee Department of Revenue has issued a franchise and excise tax notice discussing the alternative annualized method for estimating quarterly tax payments. The notice, consistent with a new law, states that beginning on or after January 1, 2017, taxpayers may calculate their quarterly estimated tax installment by using the new alternative annualized income method that may benefit those with income earned unevenly during the year. The annualized income method recognizes that sometimes a disproportionate amount of income is earned later in a year, and it permits the payment of estimates to be made in a manner that more closely correlates to when the income was earned. The annualized income method computes the franchise and excise components separately. The excise tax component of each installment is calculated in the manner provided by IRC 6655(e)(2). The franchise tax component of each installment is the lesser of 25 percent of the franchise tax shown on the tax return for the preceding tax year (annualized if less than 12 months) or 25 percent of 80 percent of the current year’s liability. Further, the notice provides a web link to a worksheet for calculating quarterly estimates under both the standard and the annualized income method as well as information regarding election to use the annualized method.Notice No. 17-15, Tennessee Department of Revenue, July 2017, ¶401-693last_img read more

NCH Corporation Saves USD 5 Million Over Five Years with Intel® Xeon® Processor 7500 Series

first_imgNCH Corporation, a provider of industrial maintenance solutions, needed to establish a new instance of its global Oracle* database. A key decision: maintain consistency with the current IBM AIX* RISC-based platform or deploy the new instance on the Intel® Xeon® processor 7500 series? NCH chose the Intel® processor-based solution and says by its calculations, the decision will save the company USD 5.5 million over five years in hard costs. The project also triples performance, reduces risk, and delivers critical business functionality.“When I can tell our CFO the company will avoid spending more than USD 5 million and show a return of less than 12 months, it makes the decision obvious,” said David Kennedy, IT director for NCH. “The value proposition was attractive; it almost seemed too good to be true.”For all the details, read our new NCH Corporation business success story. As always, you can find this one, and many others, in the Intel.com Reference Room and IT Center.*Other names and brands may be claimed as the property of others.last_img read more

High-speed cameras reveal how hummingbirds can turn on a dime

first_imgHigh-speed cameras reveal how hummingbirds can turn on a dime Hummingbirds are the fighter pilots of the avian world, diving and weaving at speeds of up to 55 kilometers per hour—then turning on a dime to hover midair, wings frantically beating, as they refuel on nectar. Now, through herculean efforts, researchers are one step closer to figuring out what makes the animals so nimble. The new work not only helps explain their complex choreography, but it may also lead to more maneuverable robots and drones.Biologists have clocked how fast hummingbirds can fly and how long they can hover, but maneuverability—all that zipping back and forth—is “notoriously difficult to study,” says Peter Wainwright, an evolutionary biologist at the University of California (UC), Davis, who was not part of the new work. That’s because “it involves a complicated set of possible movements, and it’s very spontaneous.”That didn’t stop Paolo Segre, then a graduate student at the University of British Columbia in Vancouver, Canada. He decided to try by filming hummingbirds in the wild, which are less inhibited about flying than their captive counterparts. To prepare, he spent the better part of a year perfecting and miniaturizing a four-camera, computer-coordinated system for high-speed filming.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)Two months later, Segre was in Peru. He and his team hiked up mountains and crashed through jungles to find the perfect site. Once they set up camp, they constructed a large cage outfitted with the solar-powered camera system and started testing their hummingbirds, one by one. The researchers filmed each bird for about 30 minutes as it flitted between perches and visited a nectar-feeding station inside. Then they let the bird go and repeated the process. Segre and his team set up stations in three other locations: the Ecuadorian Andes, and high- and low-elevation camps in Costa Rica.Getting the data wasn’t easy. In Peru, the team’s testing site was swarmed with army ants for 2 days straight. In Costa Rica, Segre and his colleagues had to wade across crocodile-infested waters—at night—in the middle of a lightning storm. “We were mostly terrified by the lightning,” recalls Segre, now an ecophysiologist at Stanford University in Palo Alto, California. The scientists eventually made videos of 207 birds belonging to 25 species.Once they had the data, Segre’s labmate, postdoc Roslyn Dakin, now at the Smithsonian Migratory Bird Center in Washington, D.C., developed sophisticated software with her colleagues to analyze them. Because there were four cameras, the researchers could reconstruct the flight pattern of each bird in three dimensions, measuring the number of times it accelerated, decelerated, turned, rolled, soared, or dove, among other maneuvers. Each of those simple moves repeated and combined into predictable patterns. “More complex maneuvers were made up of sequences of simpler maneuvers,” Segre explains.When the researchers compared flight patterns among species, they found that each one tended to stick to the maneuvers it was best at (something especially true of turns). But they were surprised to find that heavier hummingbird species were generally better at accelerating and making tight turns. Based on studies in birds and bats, the team had expected the exact opposite. “But larger hummingbird species were actually more maneuverable,” Dakin says. The reason: Those heftier hummers had relatively bigger muscles and wings than smaller species, she and her colleagues report today in Science.Several other trends emerged. Maneuvering behaviors that differed from species to species generally came down to structural and physiological traits such as wing size, wing surface area, weight, and muscle mass. Finally, when the team grouped the birds based on their flight patterns, they found the clusters reflected the hummingbird family tree: More closely related species had similar flight patterns.Dakin says this new maneuverability “framework” could help roboticists understand how to tweak their flyers to be less clumsy and fragile. Particularly useful is hummingbirds’ ability to generate rapid wing movements, which helps with agility, says Andrew Biewener, a biomechanist at Harvard University. As a result, adds Robert Dudley, an organismal biologist at UC Berkeley, even more engineers are now studying animal flight than biologists. By Elizabeth PennisiFeb. 8, 2018 , 2:00 PMlast_img read more

Rep Iden welcomes Olympian to state Capitol

first_img Categories: Iden News,Iden Photos PHOTO INFORMATION: State Rep. Brandt Iden welcomed U.S Olympic Soccer star Lindsay Tarpley to the floor of the Michigan House of Representatives.  Tarpley is a two-time Olympic gold medalist, winning gold at the 2004 Athens and 2008 Beijing Summer Olympics.  Tarpley attended Portage Central High School, where she led her team to an undefeated season and a state championship. 06Jun Rep. Iden welcomes Olympian to state Capitollast_img

Arkena has been chosen by TF1 Video to provide the

first_imgArkena has been chosen by TF1 Video to provide the platform for its video-on-demand service MyTF1VOD.Arkena is offering a platform that integrates all the workflows of MyTF1VOD service, including content preparation with the secured Cloud4Media solution, back-office, management of the PlayReady and Marlin DRM protection, Content Delivery Network (CDN) and apps, managed in collaboration with TF1 Video’s partners.MyTF1VOD is available on Bouygues Telecom, Free and Numericable set-top boxes, as well as on connected devices. It is the first VoD service to be made available via the HbbTV standard.“MyTF1VOD being one of the French reference for transactional VoD services, we have strong ambitions in terms of development for the coming months. We chose Arkena in accordance with our objectives and the challenges we want to tackle. Among other things, we have the assurance of working with a technical partner that differentiates itself with its expertise and proximity,” declared Tristan du Laz, Deputy CEO of TF1 Video.“MyTF1VOD is one of the most ambitious and innovative Video On Demand platform of the market. Being trusted by TF1 Video is one more proof of the relevance of our solutions to offer integrated services and platforms, whatever their business and distribution models”, said Grégory Samson, senior vice-president, media and telecom at Arkena. Arkena will be exhibiting at IBC on stand 1.B79last_img read more

Sky Media has selected Yospace to provide dynamic

first_imgSky Media has selected Yospace to provide dynamic ad insertion for its Sky Go TV everywhere service in Europe.Announcing the deal, Yospace said it will enable dynamic ad serving on Sky Go’s linear channel feeds for the first time, and will help Sky to reproduce the targeting benefits of its Sky AdSmart technology across connected devices.Yospace said it is able to frame-accurately splice replacement advertisements in a way that means viewers are unable to distinguish replaced content from the underlying stream.“The enablement of dynamic ad serving in Sky Go Linear, and the ability to extend Sky AdSmart on Sky Go marks a big leap forward for both advertisers and viewers,” said Jamie West, deputy managing director of Sky Media.“We wanted to provide a seamless viewing experience, but also consider Sky Go viewers’ more personalised relationships with their TV content.  With these aspirations in mind, it became clear very quickly that Yospace’s platform was the most innovative and technically robust.”last_img read more