Friday, December 16, 2011

Jive Software shares surge in market debut (Reuters)

(Reuters) ? Jive Software Inc's shares soared in their market debut as investors look to cash in on the immense popularity of social media offerings on the backdrop of upcoming IPOs like those of Facebook and Zynga.

Jive's shares closed at $15.05 on Nasdaq, a 25 percent gain on the $12 price set by the social networking software provider a day ago. The stock had touched a high of $16.50 earlier in the session. At Tuesday's close, the company has a market value of about $862 million.

Nearly 15 million Jive shares changed hands in their first day of trade.

Jive, which makes software to integrate online communities, microblogging, social networking, discussion forums, blogs, wikis, and instant messaging under one interface, had filed in August to raise up to $100 million in its IPO.

On Monday, Jive's offering was oversubscribed helping the company sell more shares, at a higher-than-expected price, raising $160.8 million from its listing.

"I came as CEO of Jive in 2010 and then it was clear there was a massive market opportunity to bring social to the enterprise. So, at that time, we began investing in our business, with an eye towards someday being here (as a public company)," Chief Executive Tony Zingale told Reuters.

The Palo-Alto, California-based company reported sales of $46.3 million in 2010, and for the nine months ended September 30, 2011, it posted total revenue of $54.8 million.

And the company is poised to grow further.

"We will continue to invest in our social business software platform and take that platform to different markets. So the plan in the next six months is to invest and execute," CEO Zingale said.

Jive already has close to 700 clients -- a list that includes Hewlett-Packard, SAP, T-Mobile and UBS.

The company is backed by private equity firm Sequoia Capital and its affiliates who own an about 35 percent stake.

The underwriters to the offering were led by Morgan Stanley and Goldman Sachs.

Jive's debut follows a slew of internet related listings led by Linked In's strong showing, followed by those of daily deal site Groupon Inc and consumer review website Angie's list.

Online review site Yelp Inc and Facebook game maker Zynga are now next in line to trade on public markets after they filed for their respective IPO's with the U.S. Securities and Exchange in November.

Zynga, whose IPO is set to price on Thursday this week and debut on Friday, is expected to be valued between $7.7 billion and $9.04 billion based on its pricing range.

(Reporting by Siddharth Cavale and Jochelle Mendonca in Bangalore; Editing by Joyjeet Das)

Source: http://us.rd.yahoo.com/dailynews/rss/software/*http%3A//news.yahoo.com/s/nm/20111213/tc_nm/us_jive_ipo

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Thursday, December 15, 2011

Emily W. McBurney: What Does American Airlines' Bankruptcy Have To Do With My Divorce?

You're so busy right now, dealing with the divorce, the kids, the holidays -- you've barely had time to catch the news. And, you've had enough bad news in your personal life lately, thank you very much, so the last thing you want to hear about is more bad financial news. The announcement of American Airlines' filing for bankruptcy protection may have barely hit your radar screen.

But all retirees, workers, and people going through a divorce should pay attention to that bit of news, because it could affect your divorce and your retirement. How? When a company declares bankruptcy, its pension plan is often terminated and taken over by a government entity called the Pension Benefit Guaranty Corporation ("PBGC"). The PBGC is a federal corporation created to insure qualified pension plan benefits (learn more at www.pbgc.gov). It's like the more-familiar FDIC, which insures bank accounts up to a certain amount; it's a security net for pension plans. PBGC does not take taxpayer money. It is funded by the pension plans themselves.

When pension plans are terminated, the PBGC takes over as Plan Administrator and handles things like calculating and paying benefits and reviewing and administering QDROs (which are court orders providing retirement payments to non-employees such as former spouses and children). The PBGC pays benefits up to certain legal limits, so employees usually receive most of their accumulated qualified pension benefits. The maximum pension benefit guaranteed by the PBGC is set by law and adjusted each year.

The economic downturn has caused so many retirement plan terminations that PBGC says it already has a $26 billion deficit. Right now, the PBGC is worried about whether it will have to take over American Airlines' massive pension plans. It does not have enough money to cover all of American Airlines' retirement obligations to current and former employees. PBGC released a statement after American filed for bankruptcy, stating that the airline has a shortfall of about $10 billion for its retirement obligations, and that PBGC would do everything possible to preserve American Airlines' retirement plans rather than have to take them over. PBGC will be pushing American to keep its retirement plans afloat, to avoid having to come up with new funds to cover American's workers if the plans are terminated. If they are not successful, then there will be difficult choices to make about how to proceed -- possibly by raising the premiums paid to PBGC, or a (presumably unpopular) bailout by taxpayers.

If the PBGC is forced to take over American Airlines' retirement plans, a huge number of people -- not just employees and retirees of American Airlines (and their families and former spouses) -- could be affected. According to PBGC, 44 million Americans participate in qualified pension plans protected by PBGC. This does not include the number of former spouses and dependents of those workers and retirees, all of whom would stand to lose benefits if PBGC becomes unable to make its payments.

If you are going through a divorce and either you or your spouse has a qualified pension plan, whether you are still working or retired, you need to address the retirement benefits in your divorce document. Make sure that you understand the specifics of the retirement plan, and be careful to include language that will protect your share of the benefit in the event that the plan is terminated or benefits are reduced. A divorce agreement or QDRO can include a provision that says the benefits will be reduced proportionally between you and your ex if there is ever a reduction or termination in the future. One bit of good news is that bankruptcy generally does not affect 401(k) plans in the same way as traditional pension plans, so the PBGC is not involved. When an employer files for bankruptcy, 401(k) funds are usually just distributed to employees from their individual accounts, and these funds can be rolled into other retirement accounts such as IRAs.

There is one important point too often missed in divorce cases, with disastrous consequences. Non-qualified benefits are not guaranteed by the PBGC, so employees will likely lose all of their accumulated non-qualified retirement funds if their employer files for bankruptcy. If you are in the midst of a divorce, make sure you find out whether any of the retirement benefits you are dividing are non-qualified. Your divorce document should spell out what will happen if the non-qualified benefits do not get paid.

It's hard to keep your eye on the ball when there are so many other balls to follow nowadays. Whether you're going through a divorce, tough financial times, or both, this issue could have an enormous impact on your financial future. Add "retirement" to the list of things that must be investigated and addressed in your divorce. If you are a worker or retiree, keep an eye out for news about PBGC and your employer's financial health. There have of course been times when it would have been impossible to imagine the bankruptcy of the big airlines -- but as the last few years have demonstrated, anything is possible, and it pays to be prepared.

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Source: http://www.huffingtonpost.com/emily-w-mcburney/what-does-american-airlin_b_1149859.html

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Wednesday, December 7, 2011

?The Ultimate Fighter? 14 Finale?s Three Stars: Brandao, Dodson and Bedford

?The Ultimate Fighter? 14 Finale?s Three Stars: Brandao, Dodson and BedfordOn Saturday, the UFC said goodbye to Spike with great performances from the newest Ultimate Fighter winners while serving up a one-sided main event. Both winners are from Jackson's MMA, proving that the elite camp can continue to churn out great prospects.

Here are Cagewriter's Three Stars from Saturday night's Las Vegas event. Tell us yours in the comments or on Facebook.

No. 1 star -- Diego Brandao: The Brazilian fighter fought back from the brink of a Dennis Bermudez TKO to maneuver into an armbar. It was so quick and perfect that Bermudez had to tap with just nine seconds left in the round. With a UFC contract, the featherweight can start showing his well-rounded game against tougher competition.

No. 2 star -- John Dodson: What was more impressive: Dodson's quick dismantling of Team Alpha Male fighter T.J. Dillashaw or the series of flips he did to celebrate? Seriously. One had a twist. The short, powerful bantamweight now will have a chance to use his skills in the UFC.

No. 3 star -- Johnny Bedford: How do you make people forget about getting hit so hard that you don't know what state you're in? Winning, of course. Bedford was knocked out by Dodson during the semifinals, but got a TKO win by battering castmate Louis Gaudinot.

Source: http://sports.yahoo.com/mma/blog/cagewriter/post/-The-Ultimate-Fighter-14-Finale-s-Three-Stars-?urn=mma-wp10265

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Sunday, December 4, 2011

Lung Cancer's Hidden Victims: Those Who Never Smoked (HealthDay)

FRIDAY, Dec. 2 (HealthDay News) -- Opera legend Beverly Sills never smoked. Neither did actress and health advocate Dana Reeve, wife of the late actor Christopher Reeve.

And yet in 2007 and 2006, respectively, both joined the ranks of about 32,000 Americans each year who never touch a cigarette but die of lung cancer anyway.

In fact, experts say, one in every five cases of the leading cancer killer occurs in nonsmokers. The annual death toll among this group now approaches that of breast cancer (about 40,000 per year) and is roughly equal to that of prostate cancer (32,000). Many never-smoking women may also be unaware that they are more than twice as likely to die of lung cancer as they are of ovarian cancer (14,000 deaths per year).

Numbers like those have experts calling for a shift in the public's thinking on lung cancer, away from its label of "the smoker's disease."

"We say, 'If you have a lung, you can get lung cancer,'" said Linda Wenger, executive director of Uniting Against Lung Cancer (UALC), a nonprofit advocacy group aimed at reaching a better understanding of lung cancer. The group was founded after the death in 2001 of Joan Scarangello, an ABC and NBC journalist and lifelong nonsmoker who fell victim at age 47 to lung cancer.

"She was very healthy, she was a runner," Wenger said, but the disease claimed Scarangello as it has many never-smokers. "We need to look at lung cancer as being a cancer like any other," Wenger added.

Many experts believe that the stigma around smoking that accompanies lung cancer -- that its victims somehow "brought it on themselves" -- has dampened public sympathy for patients and hindered funding for research.

"The lung cancer research field is definitely the stepchild in the [cancer research] family, and we're sure a lot of that has to do with stigma," said Holli Kawadler, UALC's scientific program director. She noted that, in terms of funding received from the U.S. National Cancer Institute, "the numbers are $27,000 in research per cancer death for breast cancer, compared to only about $1,400 per cancer death for lung cancer."

"It's very disheartening for the whole field," Wenger said. "We have a partner out there, his wife has lung cancer but she never smoked. And she has the attitude that 'I never smoked, but cigarettes are going to kill me' because the money is not there for research, because of the smoking stigma."

Lung cancer's lethal nature may also be hindering efforts to boost awareness and funding for research, experts add.

"Unlike other cancers where there is better funding, lung cancer patients aren't well enough to really advocate for themselves," explained Dr. James Dougherty, medical and scientific advisor for the Lung Cancer Research Foundation (LCRF), based in New York City. "When they get the diagnosis they often get sick pretty quickly, so they aren't about to publicly take on the role of saying 'Look, I have a problem, I need help.'"

Still, even with limited funding, scientists are slowly uncovering clues to the origins and distinct nature of lung cancer in never-smokers. One obvious starting point is the fact that women are affected far more often than men.

"Among never-smokers with lung cancer, women outnumber men two-to-one," Wenger said.

According to experts at the LCRF, the reasons for the disparity aren't clear, but early research is suggesting that, much like breast tumors, lung tumor aggressiveness in women appears linked to estrogen. Other factors, as yet unknown, may also be at play.

"We're also learning much more about the differences in the biology of [lung cancer in] smokers and nonsmokers," Dougherty added. He pointed to LCRF-funded research under way at M.D. Anderson Cancer Center in Houston, "specifically looking at some new potential markers on the [tumor] cells of people who have never smoked. Hopefully that will lead to the identification of better treatment options for nonsmokers."

Determining risk factors that might place certain never-smokers at especially high risk for lung cancer is another focus of research. The dream, experts said, is to somehow devise an accurate "panel" of biological and other factors that could serve as a basis in pinpointing at-risk individuals who may need closer monitoring.

All of these research advances will depend on much better funding, however. In the meantime, the stigma of smoking that overshadows never-smokers newly diagnosed with lung cancer continues.

"We hear a lot from people that the first thing they are asked after diagnosis is, 'Did you smoke?'" said Kawadler. "That's very tough."

More information

Find out more about ongoing efforts to fight lung cancer at the Lung Cancer Research Foundation.

Source: http://us.rd.yahoo.com/dailynews/rss/cancer/*http%3A//news.yahoo.com/s/hsn/20111202/hl_hsn/lungcancershiddenvictimsthosewhoneversmoked

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Saturday, December 3, 2011

George McGovern in stable condition after SD fall (AP)

SIOUX FALLS, S.D. ? Former Democratic presidential candidate George McGovern was alert, comfortable and in stable condition at a South Dakota hospital Saturday after hitting his head during a fall, hospital officials said.

The 89-year-old former U.S. senator was taken by helicopter to a Sioux Falls hospital late Friday after falling outside Dakota Wesleyan University's McGovern Library in Mitchell. A school official said McGovern hit his head on the pavement about two hours before he was scheduled to appear on a live C-SPAN interview at the library.

"Senator McGovern is alert and resting comfortably but, as with any head injury, it is important that we observe the situation closely," Dr. Michael Elliott, chief medical officer at Avera McKennan Hospital & University Health Center, said in a written statement Saturday.

The statement said McGovern was in stable condition, though no other details were released. The hospital said his family was asking for privacy.

The former South Dakota senator has lived in St. Augustine, Fla., since 2008 but also has a home in Mitchell.

Friends and faculty who had gathered at the library for the C-SPAN taping said McGovern fell at about 5:15 p.m. Friday. McGovern was "bleeding profusely" but was conscious and talking as he was taken from the university by ambulance, said Donald Simmons, dean of the College of Public Service.

McGovern's daughter, Ann, was with her father before he was taken to the Sioux Falls hospital. She said Friday that the injury was unrelated to her father's hospitalization in late October for exhaustion.

University President Robert Duffett said McGovern had been excited to take part in the C-SPAN program "The Contenders," which focuses on failed presidential candidates who changed the landscape of American politics. McGovern lost his 1972 presidential bid against President Richard Nixon, who eventually resigned amid the Watergate scandal.

Duffett said he had coffee with McGovern just hours before the fall and that McGovern was returning to the campus to grab dinner with faculty before the interview.

McGovern was entering a side door when he "tripped and fell and hit his head hard," Duffett said. "It's just one of those things. He's made that walk many times before."

McGovern has an office inside the library, which is named for him and his late wife, Eleanor.

C-SPAN went ahead and aired the segment on McGovern, with program host Amity Shlaes interviewing political experts and journalists to analyze McGovern presidential campaign. Shlaes said on air that McGovern had taken "a spill" and wasn't able to be on the program as planned, but she said he was fine.

McGovern was elected to his first of three terms in the Senate in 1962. Though he later lost the presidential race to Nixon, he continued to distinguish himself during his political career and was a lifelong advocate for U.S. and world food programs.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111203/ap_on_re_us/us_mcgovern_hospitalized_fall

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Samsung's Next-Gen Mobile Chipset Is Nearly as Powerful as a Laptop [Guts]

If you have an affinity for Android Tablets, you'll certainly fawn over the next generation Exynos 5250 chipset, complete with a 2 gigahertz, dual-core ARM Cortex A15 CPU and a GPU capable of powering a 3D display at 2560x1600. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/VR5xyLqb73Y/samsungs-next+gen-mobile-chipset-is-nearly-as-powerful-as-a-laptop

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Friday, December 2, 2011

Asia pilot gap grows as airlines order new jets (AP)

HONG KONG ? Fast-growing Asian and Middle Eastern airlines have signed orders recently for hundreds of new airplanes ? now they face the problem of finding enough pilots to fly them. For safety-conscious travelers, that means sticking with the big, well known airlines who can afford to lure the best staff as the scramble to fill the cockpit intensifies.

While there have been warnings for several years of a pilot shortage in Asia, the latest orders add to the urgency. The region is forecast to account for the lion's share of global aircraft deliveries over the next two decades as demand for air travel surges amid strong economic growth. It's also forecast to need the largest number of new pilots and the widening shortage of experienced staff is raising safety concerns and playing havoc with flight schedules.

"Quite a number of carriers are increasing their orders. So where are the pilots coming from? The shortage is going to manifest itself certainly as we go into next year because there'll be a lot of planes coming in then, so these guys are going to have a hard time finding the pilots to fly them," said Shukor Yusof, an aviation analyst with Standard & Poor's.

Last month, Indonesia's Lion Air ordered 230 Boeing Co. 737s with options for 150 more. Qatar Airways ordered at least 55 jets from Airbus SAS while Emirates ordered 50 Boeing 777s. From 2011 to 2030, Boeing and Airbus both predict Asia will account for about a third of global aircraft deliveries worth a total of more than $1 trillion.

To keep up with growth and replace retiring pilots, the International Civil Aviation Organization forecasts Asia will need 229,676 new pilots over the next two decades ? up from 50,344 in 2010. In the most likely scenario, Asia will be short about 9,000 pilots a year because it will need about 14,000 but have capacity to train only about 5,000.

"Never in human history have we seen a time when 2 billion people will enter the middle class and demand air travel. That time is now," said William Voss, president of the Washington, D.C.-based Flight Safety Foundation.

Some airlines are already acting.

Emirates has announced plans to set up a dedicated $109 million flight training center in Dubai that will be able to train up to 400 students at a time. Earlier this year, Canadian flight-training company CAE Inc. said it was expanding its training center in Zhuhai, China that it runs jointly with China Southern Airlines.

But Roei Ganzarski, Boeing's chief customer officer for flight services, warns that recruiting pilots will be a long-term problem for the aviation industry. "We've already heard of a few airlines that have either reduced their operations or even grounded their airplanes because they don't have enough people to fly them."

Training a commercial airline pilot takes time ? up to three or four years. Trainees must obtain a Private Pilot's License and then a Commercial Pilot's License. Then they need an Air Transport Pilot's License ? the advanced credential required to fly a commercial airliner ? which involves logging about 1,500 flying hours. It's an expensive and time-consuming entire process that rookies starting from scratch will need two to three years to complete.

Once they're hired by an airline as a first officer, candidates will need more time for additional conversion training for the type of aircraft they'll be flying, which could take another year.

Aviation industry executives say small airlines will be hit hardest because they can't compete with big, rich carriers such as Dubai-based Emirates, the Middle East's biggest airline.

Capt. Alan Stealey, senior vice president for flight operations, said Emirates isn't facing problems recruiting its target of 600 pilots this year, up from about 400 or 450 in past years.

Emirates lures staff with generous salaries and benefits. First officers earn tax-free annual salaries averaging $95,000 while captains get about $135,000 as well as free housing, medical benefits and tuition fees.

Emirates also operates some of the world's newest, most advanced jets ? another draw for recruits.

"We're an airline of choice from a pilot's point of view," said Stealey. "The shortage will not be in carriers like Emirates," but rather will hit smaller, regional carriers hardest, he predicted.

The crash of an Air India Express jet in May 2010 highlighted the problems smaller airlines are facing. An investigation blamed the Serbian pilot for the disaster in which a Boeing 737 operated by the national carrier's low-cost arm crashed while landing at Mangalore's airport, killing 158 people.

The probe found that the pilot slept through more than half the flight and woke up disoriented when it was time to land the aircraft.

India's pilot shortage has been driven by fierce demand as a slew of carriers have started up in the past decade and expanded rapidly. Pilots complain that they don't have enough rest time between flights, a violation of international aviation safety practices.

Indian airlines have been forced to look abroad for staff, which comes with its own problems as some Eastern European pilots had difficulties with English ? the international language of aviation.

By hiring pilots from countries where English isn't spoken widely, "you have to accept that there's potential for confusion, or less comprehension," said Gideon Ewers, a spokesman for the U.K.-based International Federation of Airline Pilots' Associations.

Airlines across Asia have been recruiting foreigners. China has at least 1,300 foreign flight captains, according to the state-run China Daily newspaper. Garuda Indonesia and Korean Airlines have also been forced to hire foreign pilots. In China, state media quoted an American pilot for Spring Airways complaining he had to rely on his Chinese first officer to communicate with air traffic controllers who wouldn't or couldn't speak English.

Experts say while some smaller airlines are forced to hire pilots on short-term contracts, they don't have as much control over the quality of the pilot's training and experience as big airlines with cadet programs do. The result is that while airlines may have crews that meet the minimum training requirements, some airlines will have crews that are excellent but others are "dangerously marginal," said Voss.

At airlines where safety and training standards are closely followed, the pilots in the cockpit "correct the missteps and correct problems on the spot. All of those little corrections eventually define the safety culture of that airline," said Voss.

"If the crews are all on six-month contracts, that doesn't happen. Risky behavior goes unchallenged, professionalism decays, and disaster inevitably follows."

A potentially even graver shortage looms of maintenance personnel, aviation groups say. Boeing forecasts that Asia will need a quarter-million new technicians over the next two decades, up from about 46,500 now.

"It is a more difficult problem to solve," said Voss,"since the job is very unattractive and harder to train."

___________

AP Business Writer Adam Schreck in Dubai, Aviation Writer Slobodan Lekic in Brussels and AP Writer Nirmala George in New Delhi contributed to this report.

Source: http://us.rd.yahoo.com/dailynews/rss/topstories/*http%3A//news.yahoo.com/s/ap/20111201/ap_on_re_as/as_asia_pilot_shortage

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