Why some Bankers MisGuide Investors for MF

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Is Mutual Funds safe 

Bernanke Warns That "Money Market Mutual Funds Not 100% Safe"


Federal Reserve Chairman Ben Bernanke was unusually candid yesterday at a Senate hearing when he admitted there were “still more risks” of a “run” in money market mutual funds” owned by investment giants  such as Fidelity, Putnam and T. Rowe Price. “It’s not true that money market mutual funds are 100% safe,” he told a Senate committee hearing.

“Some of the tools we used in 2008 to arrest the run on funds are no longer available,” Bernanke explained to an inquiring Senate committee hearing. He singled out the inability of the Fed  to guarantee 100% of the public’s  holdings  in these funds, or in other short term investments such as commercial paper, which was guaranteed in 2008 gto allow corporations to roll over their short term debts. Bernanke also mentioned the requirement included in the  proposed rules to Dodd-Frank Bill that  would require investors to leave 3% of their holdings in money market funds when they liquidate their positions. Bernanke and others have suggested this new rule may dissuade some investors from leaving their money in  these funds, which today hold $3 trillion in assets. Until the Lehman bankruptcy and the resulting meltdown in the financial markets  the public has always considered 100%  safe and secure.

Just last week SEC chairwoman Mary Schapiro also warned  that  a run on a single money market fund “could trigger a broad and destabilizing “  follow-on in the $3 trillion money market funds that hold the short-term savings and deposits of individual investors and are often considered their safety funds in case of  an emergency.

Bernanke was more sanguine about the Fed’s proposal to keep interest rates near zero until well into  2014.  As only 10% of household wealth is in fixed income securities, both short and long term, Bernanke suggested that any trend to higher rates won’t damage much of household wealth. “It’s better to have 90% (of household wealth, the value of homes, equities, small businesses) go up in value” rather than the price of bonds, Bernanke suggested.

“The benefits of lower interest rates until 2014″ should help economic activity” including the value of commodities, the Fed chairman said in making the case for his policy.  His theme was that the private economy should benefit more from lower interest rates than any damage they might doi to savers and retired pensioneers.





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Red Hat is eyeing the red-hot cloud computing market with OpenShift

Open-source bigwig Red Hat is eyeing the red-hot cloud computing market with OpenShift, an open source application platform in the cloud that lets enterprises deploy applications quickly.

The platform-as-a-service, or PaaS, supports apps written in slew of programming languages such as Ruby, Python, PHP, Perl, and of course, Java. It can also be extended to support other languages such as Cobol, which is widely used in mainframe applications.

“The idea behind OpenShift is to allow people to write apps quickly without having to set up servers,” said Harish Pillay, chief technology architect at Red Hat Asia-Pacific, in an interview with Techgoondu.

OpenShift is hosted on Amazon Web Services and is available in two tiers. The free tier, FreeShift, comes with three gears comprising different memory and disk configurations. More gears can be added if an app requires more resources, but that means you would have to subscribe to Megashift, the paid tier at US$42 per month that offers up to 16 gears.

A key feature of OpenShift is its ability to automatically “scale up”, or increase the number of gears to meet any surge in demand for your app. So, if you’re reaching 90 percent of your peak capacity, another gear will be added. If demand falls to 50 percent of your peak capacity for several minutes, a gear is removed.

As an open source project, Pillay said, the source codes for OpenShift are also free for download. That means developers can run a copy of OpenShift on their own machines and move it to the cloud and back whenever they want. “There’s no lock in, and that’s our mantra,” Pillay said.

Pillay noted that adoption of PaaS is still in its infancy. “PaaS represents a change in approach and will work best in new projects. If you have a plan on what needs to be in place such as security and access controls when you move to the cloud, then this becomes easier,” he said.

Besides enterprises, cloud service providers can also tap on OpenShift to provide PaaS services for developers. As cloud suppliers typically prefer open source products that can be customised to their own needs, OpenShift gives Red Hat an advantage over similar offerings from IBM and Oracle.

Red Hat, however, is not the only player in the open-source PaaS market. VMware’s Cloud Foundry has been gaining traction among developers since its launch last April.  To better compete with other PaaS players, VMware is reportedly planning to spin off its Cloud Foundry business and parent company EMC’s GreenPlum assets into a separate company.

According to IDC, the worldwide public PaaS market is expected to grow at a compound annual growth rate of 32.3 percent to reach US$9.1 billion by 2015, from US$2.2 billion in 2010.





Shekhar GuptaCEO
Capt. Shekhar Gupta [ Pilot, DIAM, M.Ae.S.I., MAOPA [USA] ]
shekhar@aerosoft.in 
Blog : http://shekharaerosoft.blogspot.in/  

As per more then 350 search Engines including AltaVista, Bing, Google and Yahoo
Expert Team Of Aerosoft is Best Aviation SEO KPO Team in Asia

Best Aviation Managers in Asia:

Best HR Manager in Asia :
Er Reema Chordiya [ BE (CS) MBA (HR)]
reemac@aerosoftorg.in

Best HR Manager Manager Operations in Asia :
Er Anubha Barod [ B.E. MBA [ E Comm]
anubha.barod@aerosoftseo.com

Best Manager Marketing in Asia  :
Ankita Mishra [ B Sc (CS) MBA (Mktg)]
AnkitaM@aerosoftorg.in

Best Aviation Software Engineer Cum Aviation Blogger in Asia:
Ruchika Mandore [ BCA ]

 

Cloud computing makes MidEast firms more agile, but presents confusion (page ... AME Info For the past few years, cloud computing has been heralded as the next biggest trend in enterprise IT, with analysts from Gartner and IDC estimating an exponential growth of the cloud market, reaching a value of $72.9 billion by 2015. Organisations ... See all stories on this topic »

The CIO as the (IT) supply chain manager GigaOM But the environment is changing — more services are available in a consumerized fashion, creating “shadow IT”; BYOD demands from users are increasing; IaaS, PaaS and SaaS clouds are simplifying outsourcing of certain categories of services; end-users ... See all stories on this topic » GigaOM

Disruptions: At Box, a Fast-Moving Chief Immersed in the Cloud New York Times (blog) Like someone swerving out of the way of oncoming traffic, he abruptly shifts from a lengthy ramble on the short history of cloud computing and responds: “For your own sake, I'm not going to eat. I speak too quickly, and my food would be splattered all ... See all stories on this topic » New York Times (blog)

On the Record with IT writer Todd Nielson about Cloud computing eChannelLine Todd Nielson, an IT writer specializing in Cloud computing (and former VAR) talks with Channelline CEO Robert Cohen about Cloud computing, and its disruptive effects on the channel. The segment was taped at the recent CompTIA Breakaway Conference ... See all stories on this topic »

Red Hat eyes PaaS market with OpenShift Techgoondu Open-source bigwig Red Hat is eyeing the red-hot cloud computing market with OpenShift, an open source application platform in the cloud that lets enterprises deploy applications quickly. The platform-as-a-service, or PaaS, supports apps written in ... See all stories on this topic »

A 30 year-old Tata Consultancy Services, TCS software engineer landed behind bars

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A 30-year-old TCS software engineer landed behind bars on Wednesday for helping a friend swindle Rs 49 lakh from customers of a private bank in the city. Working for TCS eServe, which handled the back-end operations of Citibank, she had access to sensitive information of account holders, police said.

Accused Pratiksha used her access to the account details to change the addresses of two customers. This misguided the bank to send credit and debit cards to the new addresses, where proxies received them. They used the cards to purchase goods and withdraw money. The bank found some discrepancies and informed the software company, which later found that the data had been accessed from Pratiksha's computer.

Based on the complaint of a senior TCS official, bank fraud wing sleuths of the Central Crime Branch nabbed the woman from her house in Ashok Nagar.

During interrogation she confessed to having committed the offence.

Police are now on the lookout for Pratiksha's accomplices.

Investigating officers said Pratiksha had been working in the company for seven years after completing her master's in computer application.

According to the police, she was coerced into the crime by a friend who was in dire need of money.

Pratiksha got married a few months ago, and her husband is also a software professional.

She identified some bank accounts lying inactive for more than a year and changed the addresses of the account holders. She then sent requests for credit and debit cards to the bank, as if the customers were doing it.

Pratiyusha's friend collected the documents sent by the bank after waiting near the fake addresses they had entered in the bank accounts. "Her friend is absconding. The friend used the cards and made online transfer to make Rs 49 lakh," a police officer said. The bank officials felt suspicious at one point and verified with the customer who said he had not made any requests or transactions for a while. Later, they came to know someone had manipulated the bank accounts at the back end.

A TCS eServe spokesman said the employee has been suspended. "Preliminary investigations have shown that an employee of TCS eServe, in the process of providing services to one of our clients, undertook some fraudulent transactions pertaining to two customer accounts of the client. As per policy, we have reported the incident to the police, suspended the employee and are working with authorities to complete the investigations, after which further action will be taken. The incident is an isolated one and on the instructions of our client, balances have been restored," he said.

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Action to be taken against government officials involved in fake Commercial Pilot License scam

 The Central Vigilance Commission (CVC) has directed the ministry of civil aviation to fix responsibility of officials of Directorate General of Civil Aviation (DGCA) and Airports Authority of India in the matter about irregularities in flying schools. The decision was based on the investigation report submitted by the official who held the additional charge as the chief vigilance officer of the DGCA last year.

Last year, the DGCA unearthed several cases wherein trainee pilots (who were Commercial Pilot License (CPL) aspirants) had done fraudulent logging of flying hours or had submitted fake marksheets when applying for a pilot license.

Cases were filed against the accused students and flying instructors, but there was hardly any action taken against DGCA officials who were also found to be involved in the fraud. `` The observations of the CVC in the matter was examined, it was decided to initiate disciplinary proceedings against the three officials alleged to have been involved,'' said a release issued by the ministry of civil aviation on Saturday. The ministry has also sought permission from the CVC for further investigations in the matter.

Action to be taken against government officials involved in fake pilot license ... Times of India MUMBAI: The Central Vigilance Commission (CVC) has directed the ministry of civil aviation to fix responsibility of officials of Directorate General of Civil Aviation (DGCA) and Airports Authority of India in the matter about irregularities in flying ... See all stories on this topic »

How aviation took flight here The Asian Age I always dreamt of flying high. In 1956, I appeared for the National Defence exams, was called to Bengaluru for an interview and was selected. My father was flying with the IAC (now known as Indian Airlines) back then and I had come to the south of ... See all stories on this topic »

Upgradation of non-metro airports underway Times of India MUMBAI: The ministry of civil aviation has written to chief secretaries of various state Governments and union territories for preparation of 'Perspective Civil Aviation Plan'. This plan shall indicate a road map for development of Civil Aviation in ... See all stories on this topic »

Guest commentary / General Aviation Time to spotlight state's vital asset HeraldNet Earlier this year, a boy hiking with his family became stuck on a rock while hiking near Gold Bar. The story was reported in the Everett Herald, Seattle Times, and local TV stations, and caught national attention. In the end, the child was brought to ... See all stories on this topic »

Bankruptcy judge nixes plan for $5.3 million in bonuses for 8 top Hawker ... Washington Post The bankruptcy court has approved exclusive talks with Beijing-based Superior Aviation Beijing Co., which has offered nearly $1.8 billion to buy the company's business jet and general aviationoperations. The decision came down amid voting Friday by ... See all stories on this topic »

'Living history' of aviation takes flight in Calgary Calgary Herald Although I fully admit to being a dunce when it comes to aviation knowledge, I am quickly informed of my luck in being able to board this magnificent airplane that has 1940s pin-up queen Betty Grable painted on its nose. “It's a once-in-a-lifetime ... See all stories on this topic »

We're Determined To Be Aviation Leaders In Africa -Ethiopian Airlines Nigerian Tribune GebreMariam told Saturday Tribune in an interview in Addis Ababa that, “this airplane is going to move Ethiopian Airlines to the forefront of aviation leadership around the globe. “You don't tend to hear stories in the western media about successful ... See all stories on this topic »

Gopal Kanda, arrested in connection with the suicide of his former employee, today claimed innocence

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Former Haryana Minister Gopal Kanda, arrested in connection with the suicide of his former employee, today claimed innocence and said he was a victim of a conspiracy.

"Some politicians are doing this to malign me. They are misguiding media. Truth will come out," Kanda told reporters before being taken to court as his police remand ended today.

Kanda surrendered before police last Saturday after evading them for 11 days following registration of abetment to suicide case against him.

His former employee Geetika Sharma committed suicide on August five alleging harassment by Kanda and his employee Aruna Chaddha, whom she claimed were pressurising her to rejoin. Chaddha is presently in judicial custody.

Investigators had claimed that the suicide notes they recovered were written on the same day though they bore two dates.

After an analysis of the notes in which Geetika alleged harassment by Kanda, police said they were written by the deceased the same night she took her life.

Confusion arose as one of the notes had a May date while the other had August date.

Investigators also said that Kanda denied all allegations against him and told them that he was not in touch with Geetika for at least 45 days before her suicide.

He also claimed that Aruna, whom Geetika had named in her note, had called her parents on her own and asked her to join duty.

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anubha.barod@aerosoftseo.com

Best Manager Marketing in Asia  :
Ankita Mishra [ B Sc (CS) MBA (Mktg)]
AnkitaM@aerosoftorg.in

Best Aviation Software Engineer Cum Aviation Blogger in Asia:
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Cloud computing is next biggest trend

 For the past few years, cloud computing has been heralded as the next biggest trend in the IT sector with benefits set to meet every business requirement.

Market analysts from leading agencies such as Gartner and IDC have in their independent opinion estimated an exponential growth of the cloud market with predictions estimating it to reach a value of  $72.9 billion by 2015.

Already organisations across the Middle East are approaching cloud solution vendors with the hope of deploying a model which will dramatically cut operational costs that still act as a vehicle to drive business. And while such discussions are well under way, there still is a fair level of confusion regarding the actual path to the cloud.

George DeBono, general manager, Middle East & Africa at Red Hat, says that one of the reasons behind this bewilderment is the sheer number of offerings available under the broad cloud umbrella.

The wide array of cloud strategies and enabling technologies that have been made available in the past 12 to 36 months offer varying levels of performance in factors such as access, dynamic allocation, scalability, application hosting and management. It is no wonder then that IT managers are completely overwhelmed by the cloud clutter.

To achieve effective utilisation and cut the cost of procuring and managing physical servers, virtualisation has become the norm in large enterprises across the Middle East.

Virtualisation-related cost benefits, however, don’t directly address the business need for more agile IT. Cloud computing on the other hand does this and it is time to transition from virtualisation to the cloud.

IT managers however need to be wary of hastily migrating to the cloud without a well-thought-up action plan because they risk needless expenditure on technologies which do not meet the unique requirements of the organisation. The organisation may choose the right solution but fail to utilise it to the maximum potential because of an improper deployment.

By following the guidelines described below, IT managers can get their private cloud deployments on track right from the start. The activities below mark out the key steps involved in migrating from the enterprises’ existing virtualised environment to the private or hybrid cloud.

Establishing goals

Building a private cloud designed specifically for an enterprise must start with a business discussion. This should include a mix of key stakeholders - typically a team with developer, users, and more importantly, externally facing product, marketing and sales managers. The discussion should revolve around how the cloud can accelerate business processes or transform business offerings.

Business objectives, constraints and the expected benefits all need to be highlighted during this phase.

The vital questions which need to be addressed are: what gives the business its competitive advantage?

Where does technology drive opportunity, and is it limited by having IT in the critical path? What new things can IT do to help the business? What limitations does the current IT situation impose? How will the enterprise benefit if the deployment is a success? What KPIs will be used to measure cloud success?

If businesses decide for a path to cloud and an architecture for cloud on a company level, they should be taking into account that this will be a decision to last for 5-10 years.

Infrastructure

In the near future, enterprises are likely to have IT infrastructures which involve a mix of physical, virtual and cloud-based resources deployed at either internal or external locations.

Instead of thinking about each environment separately, organisations need to adopt a portfolio view of all of their IT resources. This will help IT managers determine what workloads will be best deployed in which environment. Also it will facilitate to improve process efficiency gains over all infrastructure silos.

Whatever be the cloud model ultimately deployed, it is advisable that in the initial stages low priority workloads are first tested in the newly set-up environment in order to ensure that it meets the performance and quality  of services specifications.

The benefits of lower operations costs, improved business agility and greater scalability and manageability make a compelling case for pursuing a private or hybrid cloud strategy.

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reemac@aerosoftorg.in

Best HR Manager Manager Operations in Asia :
Er Anubha Barod [ B.E. MBA [ E Comm]
anubha.barod@aerosoftseo.com

Best Manager Marketing in Asia  :
Ankita Mishra [ B Sc (CS) MBA (Mktg)]
AnkitaM@aerosoftorg.in

Best Aviation Software Engineer Cum Aviation Blogger in Asia:
Ruchika Mandore [ BCA ]

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Transition from virtualization to cloud computing will make Middle East ... AME Info Market analysts from leading agencies such as Gartner and IDC have in their independent opinion estimated an exponential growth of the cloud market with predictions estimating it to reach a value of $72.9bn by 2015. Already organizations across the ... See all stories on this topic »

Diebold and University of Akron take aim at the cloud MENAFN.COM Aug 25, 2012 (The Akron Beacon Journal - McClatchy-Tribune Information Services via COMTEX) -- Diebold Inc. and the University of Akron want students' eyes and brains on the cloud. As in "cloud computing," a phrase that refers to processing and storing ... See all stories on this topic »

Amazon's Glacier storage service could give tape a run for its money ITworld.com August 24, 2012, 10:36 PM — Amazon Web Services is no stranger to being a first-mover in offering new cloud-based services, which analysts says it has done by introducing Glacier, a long-termcloud-based archival service that is meant to be an ... See all stories on this topic »

Computer Weekly - 28 August 2012: Cloud computing or outsourcing – which is ... ComputerWeekly.com In this week's Computer Weekly: Cloud computing is growing fast, but is still dwarfed by the amount spent on outsourcing – we ask whether cloud will change the outsourcing market. HP has written off $8bn from its acquisition of EDS in just four years ... See all stories on this topic »

Cloud computing is next biggest trend Gulf Today DUBAI: For the past few years, cloud computing has been heralded as the next biggest trend in the IT sector with benefits set to meet every business requirement. Market analysts from leading agencies such as Gartner and IDC have in their independent ... See all stories on this topic »

Dell Cloud Dedicated: Will Partners Embrace Private IaaS? TalkinCloud (blog) Still, those Dell channel partners will wind up competing with Dell on some fronts. the PC giant is offering a “comprehensive portfolio of Virtualization and Cloud Computing Consulting services which includes a Virtualization Readiness Assessment (VRA ... See all stories on this topic »

VMWare Is a Bit Pricey, but the Best Cloud Stock Out There Investorplace.com Now let's back up a bit for those of you who may not understand the cloud computing craze. Consider that Amazon (NASDAQ:AMZN) allows you to buy books and movies and store them on its servers and access them anywhere from any wired device. See all stories on this topic »

Dangerous combination of money, sex and power

A new trend of money, sex and power is in vogue in a day in Indian politics. Past one decade’s trends suggest that ambitious women came in contact with influential politicians for the fast growth of their career and eventually fell victim to their own ambitions.

Actually, the ambitious journey of such women and their relations with the politicians eventually created rappels in the personal lives of the men in white culminating into deaths or murder of the women. Same has been the fate of the ladies like Geetika Sharma, Anuradha Bali, Bhanwari Devi and many others who were bent on to achieve success in their lives at any cost.

Dangerous combination of money, sex and power

via Dangerous combination of money, sex and power.