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Tuesday, August 28, 2012

Microsoft patent division taking boatloads of cash

Microsoft patent division taking  boatloads of cash

Microsoft has struck more than 700 licensing agreements since launching its IP program in December 2003, including at least five with Android vendors. Just last week, Microsoft announced Android agreements with Velocity Micro, General Dynamics and Onkyo Corp. Since Microsoft is making the announcements one by one, there could be more coming this week.
The biggest win, however, was a patent agreement struck last year with HTC, which has become one of the most successful smartphone vendors on the strength of its Android devices such as the Evo and Thunderbolt.
Microsoft reportedly receives $5 every time HTC sells an Android phone, leading some observers to conclude that Microsoft makes more money from Android than its own Windows Phone 7 platform.
Microsoft isn't done, either. After all, there are dozens of Android vendors. Motorola, another major Android device maker, is fighting Microsoft's patent infringement claims in court, but Microsoft recently received a ruling in its favor in the ongoing litigation, according to patent watcher Florian Mueller.
Microsoft is suing Barnes & Noble over the Android-based Nook, and has signed patent agreements with Samsung and LG, although it's not clear whether these agreements extend to Android, Mueller also notes.
Microsoft claims Motorola infringes on 21 patents, including 19 with Android, according to Mueller.
Microsoft's contentious relationship with Linux-based products goes back many years, of course, to CEO Steve Ballmer calling Linux a cancer in 2001 and a 2007 claim that Linux and other open source software violates 235 Microsoft patents.
The Android patent wars also extend a fierce rivalry with Google, with the two companies fighting on many fronts including search engines, operating systems, browsers, office software and of course, mobile devices.
Ironically, Google's Android is likely a bigger profit maker for Microsoft than Bing, which has failed to topple Google in the search market. Bing is part of Microsoft's Online Services division, which lost more than $700 million in the most recent quarter. Microsoft's Windows Phone revenue numbers haven't been revealed, but Android is well ahead of Microsoft in smartphone market share.
Microsoft has struck more than 700 licensing agreements since launching its IP program in December 2003, including at least five with Android vendors. Just last week, Microsoft announced Android agreements with Velocity Micro, General Dynamics and Onkyo Corp. Since Microsoft is making the announcements one by one, there could be more coming this week.
The biggest win, however, was a patent agreement struck last year with HTC, which has become one of the most successful smartphone vendors on the strength of its Android devices such as the Evo and Thunderbolt.
Microsoft reportedly receives $5 every time HTC sells an Android phone, leading some observers to conclude that Microsoft makes more money from Android than its own Windows Phone 7 platform.
Microsoft isn't done, either. After all, there are dozens of Android vendors. Motorola, another major Android device maker, is fighting Microsoft's patent infringement claims in court, but Microsoft recently received a ruling in its favor in the ongoing litigation, according to patent watcher Florian Mueller.
Microsoft is suing Barnes & Noble over the Android-based Nook, and has signed patent agreements with Samsung and LG, although it's not clear whether these agreements extend to Android, Mueller also notes.
Microsoft claims Motorola infringes on 21 patents, including 19 with Android, according to Mueller.
Microsoft's contentious relationship with Linux-based products goes back many years, of course, to CEO Steve Ballmer calling Linux a cancer in 2001 and a 2007 claim that Linux and other open source software violates 235 Microsoft patents.
The Android patent wars also extend a fierce rivalry with Google, with the two companies fighting on many fronts including search engines, operating systems, browsers, office software and of course, mobile devices.
Ironically, Google's Android is likely a bigger profit maker for Microsoft than Bing, which has failed to topple Google in the search market. Bing is part of Microsoft's Online Services division, which lost more than $700 million in the most recent quarter. Microsoft's Windows Phone revenue numbers haven't been revealed, but Android is well ahead of Microsoft in smartphone market share.

Thursday, August 23, 2012

Not enough cutting of HPQ over year targets today.

Next, HPQ is currently sitting on a pre-market deficit of 5.7%, due to its worst loss ever in last night's third-quarter showing. On the heels of this poorly received report, a group of analysts cut their price targets on HPQ. Among them were Barclays ($21 from $22), RBC ($25 from $27), Baird ($22 from $23), Jefferies ($17 from $21), Evercore Partners ($19 from $20), and FBN Securities ($22 from $25). The average 12-month price target for the stock sits at $25.73, which is a 34% premium to Wednesday's closing price of $19.20.

Household income is BELOW recession levels, report says

Household income is below recession levels, report says

Sounds like recovery is in effect, right?

From June 2009 to June 2012, inflation-adjusted median household income fell 4.8 percent to $50,964, according to a report bySentier Research, a firm headed by two former Census Bureau executives.
Incomes have dropped more since the beginning of the recovery than they did during the recession itself, when they declined 2.6 percent, according to the report, which analyzed data from the Census Bureau’s Current Population Survey. The recession, the most severe since the Great Depression, lasted from December 2007 to June 2009.
Overall, median income is 7.2 percent below its December 2007 level and 8.1 percent below where it stood in January 2000, which was at $55,470, according to the report.
The findings highlight the depth of the recession and the long road the nation has to traverse before it fully recovers. They also echo other reports detailing the financial carnage caused by recession.

Hewlett-Packard Shares—Cheap Is No Reason to Buy

Hewlett-Packard Shares CNBC —Cheap Is No Reason to Buy

That's what the trading community is saying this morning in the aftermath of Hewlett-Packard's disappointing report — PC sales down 10 percent?

Equities slump guts investment bank revenues: study

Equities slump guts investment bank revenues: study

Platinum/Palladium Better Pick Than ETF's - SWC

Platinum/Palladium Better Pick Than ETF's - SWC

HP’s Historic Loss: CAN Meg Whitman Save the PC Giant? CAN ANYONE?

HP’s Historic Loss: CAN Meg Whitman Save the PC Giant? CAN ANYONE?

$30 BILLION IN DEBT, Watch VIDEO!

HP (HPQ) reported its worst quarterly loss in its 73-year history Wednesday.
The PC-maker suffered an $8.9 billion loss in its fiscal third-quarter, or $4.49 a share. The hit to HP's bottom line was due in large part to an $8 billion write-off of its 2008 acquisition of Electronic Data Systems Corp. (EDS)
Excluding one-time charges, HP earned $2 billion in the quarter, down from $2.3 billion a year-ago amid a 5 percent drop in overall revenues to $29.7 billion.
The company's major PC business slowed in the quarter as sales dropped 10 percent from the previous year. Printer and notebook sales were down 23 percent and 12 percent, respectively.
HP's stock was down nearly 7 percent in early trading Thursday to $17.92.
While HP undergoes a major restructuring to offset declining PC sales and fend off growing competition from Asian PC makers, the company's newly minted CEO Meg Whitman remains "confident" HP can maneuver through its difficulties.

BHP Earnings, Fed Minutes Bolstering Gold

BHP Earnings, Fed Minutes Bolstering Gold

Adrian Ash, head of research at BullionVault, says the reaction to BHP's earnings and the FOMC minutes are creating a bullish base for gold.

H-P stock falls; analyst cites CEO comments

H-P stock falls; analyst cites CEO comments

Shares of Hewlett-Packard HPQ -6.41% fell about 6% early Thursday, the worst on the Dow Jones Industrial Average DJIA -0.53% after the company posted results that analysts say were "better-than-feared," but also signaled troubles ahead in the personal computer market. Analysts cited Wednesday's earnings call with company executives in which Chief Executive Meg Whitman said the PC market "remains weak and channel inventory is high across the industry. ... The reality is, we're locked in serious competitive battles but we're determined to win." RBC Capital analyst Amit Daryanani identified Lenovo as the main rival H-P was referring to, saying, "I believe the implication is they may sacrifice some margin degradation for PC share." With expected revenue and margin declines in PCs and printers, he added, "There is less clarity in understanding beyond cost savings what can sustain earnings per share higher on a year-over-basis." 

Wednesday, August 22, 2012

We're Hiring: Governance Lead (Enterprise Infrastructure, Top Financial Firm - NYC)

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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Governance Lead for Enterprise Infrastructure organization with broad responsibility for governing the enterprise architecture machines, in support of a leading global financial services firm.
The Governance Lead needs to create, manage, and evolved the office of the CTO governance machine.

The Governance Lead will need to create a set of machines for all governance processes across the office of the CTO, evolve the function, and incorporate feedback across MS technical groups into the design of the governance forums. To be successful the Governance Lead will need to work closely with other members of the office of the CTO, to build an effective set of KPIs across the domains, and be a change agent in driving to excellence, as well as highlighting areas of improvement.

The Governance Lead will lead governance committees which will assess the technical and functional requirements of the various lines of business and use this together with data on external industry trends, competitive positioning, and current capabilities of ’s infrastructure today to make decisions on technology investments

The Governance Lead will provide strong central oversight to deliver consistency and quality in with enterprise architecture standards, and technology roadmaps

The Governance Lead will be the primary authority within the office of the CTO on governance process creation, management, and holding responsible parties accountable to commitments arising out of governance decisions

The Governance Lead will build a set of KPIs, and reports that allow an accurate assessment of alignment to the goals of the office of the CTO. The Governance Lead is the responsible party to identify, and highlight divergences in processes, to the relevant responsible party, as well as within the office of the CTO

The Governance Lead needs to be able to visualize additional processes and socialize them as required to ensure that EI technology has the correct exposure and visibility within the office of the CTO.

The ideal candidate will have a deep governance background, with an understanding of the industry, and workflows in enterprise architecture groups.  Specifically the skills the Governance Lead must have include:

Financial Services Knowledge

The Governance Lead will need to build a high level working knowledge of the technical and functional needs of various lines of business within firm.

Leadership

As many components of the Governance Lead role will require collaboration across many organizations, the Governance Lead must have the appropriate leadership experience to assemble effective teams, set appropriate goals, and lead the teams to make balanced decisions for the firm.

Similarly the Governance Lead must be an effective change agent with the capability to motivate an organization to embrace new processes and approaches while not introducing unnecessary barrier to technology adoption

Communication

Strong written and oral communication skills will be important for this role as effective communication of our strategy to EI, the business units, regulators, and our vendors is critical to the success of the Governance Lead function.

A proven ability to communicate and collaborate effectively with senior leadership of the bank and external clients is a pre-requisite for the role.

Mandatory Requirements

A degree level or higher in Engineering, Computer Science or equivalent technology domain
10+ years experience with IT governance, with preference for IT infrastructure governance.

5+ years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals of .

We're Hiring: Innovation Lab Administrator (Top Financial Firm, NYC) - AVP Level

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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Innovation Lab Administrator (Top Financial Firm, NYC) - AVP Level

Position based in the Enterprise Infrastructure organization with responsibility for designing, scheduling, and implementing appropriate technology products and services to support a leading global financial services firm.
In this role, the Innovation Lab Administrator must: quickly recognize the operational and technical challenges associated with lab evolution, and have a strong systems level understanding of the commercial offerings, tools and systems engineering practices required.
To be successful the Innovation Lab Administrator must understand the current  infrastructure, and be able to build different environments in support of innovation candidates going through the Innovation Lab. This Knowledge must include software, network, and Server configuration know how.

The Innovation Lab Admin is the implementer of firm's Innovation Lab, under the guidance of the Innovation Lab Manager. The Innovation Lab Admin will work both with internal and external resources, to build technical environments, both in the Image lab, and in the ‘sand box’ environments.
Field and Modify lab environments in service of requests from the domains of Core computing; Personal Computing; Data; Instrumentation.
Knowledge of Unix, Linux, and Windows system administration as well as networking protocols
Install, maintain and support servers, including operating systems upgrades and patches

Participate in design and implementation of new services
Assist in the evaluation of new tools for supporting infrastructure innovation candidates
Maintain Innovation systems hardware and software inventory
Support of the business units using the Innovation Labs and system documentation
A degree level or higher in Engineering, Computer Science or equivalent technology domain
5+ years experience working with infrastructure technologies.  Experience with application development will also be considered a benefit for the role.
 Industry
3+years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals of firm.

We're Hiring: Innovation Lab Manager (Top Financial Firm, NYC) VP Level

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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Innovation Lab Manager

Enterprise Infrastructure organization with responsibility for creating, managing, evolving the Innovation labs, and selecting appropriate technology products and services to support a leading global financial services firm.
 In addition to tactical lab management duties, the Innovation Lab manager will also share accountability for delivering on the vision with peers from the business lines, other Enterprise Infrastructure divisions, and external 3rd parties. 

The Innovation Lab Manager will provide guidance for the evolution of the Labs in support in support of institutional and retail business.
In this role, the Innovation Lab Manager must: quickly recognize the operational and technical challenges associated with lab evolution, and have a strong systems level understanding of the commercial offerings, tools and systems engineering practices required. To be successful the Innovation Lab Manager must be able to define the roadmap for maturity, and evaluation of projects through the lab, Manage consolidation and management of existing labs, as well as manage financial aspects of Innovation projects to ensure agile selection of innovation candidates.

Strategy Development

The Innovation Lab manager is accountable to building a roadmap of current, migration strategy and future state in collaboration with the Head of infrastructure Innovation, that captures the technical requirements of business lines as well as data coming from industry, other domains within the CTO office, and capability of current infrastructure, that will allow the lab to effectively sieve innovation candidate architectures/products/vendor solutions

Visualize and implement a lab strategy by component, of current, migration plan, and future state including financial implications.
Responsible  for creation of project management framework used to orchestrate innovation candidates being evaluated, and produce KPI’s on the performance of the assessment process
Manage the day to day of labs – consolidating and restructuring the labs to be built and run as a collaboration across Tech & Data to accelerate innovation, test proofs of concepts and be the gateway into firm for every new technology; the labs will include an “image” set of labs that are close approximation image of firm's production environment and “sandbox” labs for innovative out of the box ideas.
Oversee the lab project activities aligning to the CIOs & CTO’s office build metrics, success measures, processes, methodologies, guiding principles, governance and communication plans and be accountable to the Head of Infrastructure Innovation.
Primary point of contact, and the responsible party to ensuring that innovation candidates move smoothly through the lab, with a clear process of engaging lab services.
Management of resources utilizing the labs - in internal labs, external technical units, as well as vendors will be coordinated by the Innovation Lab Manager

Develop and maintain in depth understanding of firm Technologies and CTO office Enterprise Architecture road maps as well as what it means to the evolution of the Innovation Lab

The Innovation Lab Manager role requires a deep understanding of the domains of Core Computing, Personal Computing, Data, and Instrumentation, and how they would affect Lab Design
The Innovation Lab Manager should have vast experience in innovation, lab management, data center design and vendor relationships.
Financial Services Knowledge
The Innovation Lab Manager will need a working knowledge of the technical and functional needs of various lines of business within firm (or be able to quickly build one).
An up to date understanding of the capabilities the industry can offer the firm is critical to the role.  This must include an understanding of the services offerings in addition to the technical offerings.
As many components of Innovation Lab Manager role will require collaboration across many organizations, the Innovation Lab Manager must have the appropriate leadership experience to collaborate with external, internal, and vendor resources.

Strong written and oral communication skills will be important for this role.
A proven ability to communicate and collaborate effectively with senior leadership of the bank and external clients is a pre-requisite for the role.

Technical
A degree level or higher in Engineering, Computer Science or equivalent technology domain
10+ years experience working with infrastructure technologies.  Experience with application development will also be considered a benefit for the role.
 Industry
5+years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals of firm

We're Hiring: IT Governance Administrator - Enterprise Infrastructure (Top Financial Firm, NYC) AVP Level


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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
-------
IT Governance Administrator (Top Financial Firm, NYC)

Based in the Enterprise Infrastructure organization with responsibility for scheduling, implementing, and running IT governance machines in support of a leading global financial services firm.

Quickly recognize the operational challenges associated with governance processes, and have a strong ownership mentality to ensure the smooth operation of all governance machines within the office of the CTO.

 To be successful the IT Governance Administrator must understand all the stakeholders, their requirements, and how do the machines in governance interact with each of them.

Accountable to run the governance machines (Media & Communications, Management Packages, Dashboards, reporting, Knowledge sites. Ensuring the each runs smoothly, working closely with other members of the CTO office, as well as external parties

Process Management

Provide competent leverage to the Governance Lead in running processes; Ensuring that each process flow is operating optimally; Identifying and highlighting sub-optimality.

Hold accountable each responsible party in the governance machine to their commitments, and escalate non-compliances to the Governance Lead
Demonstrated ability to manage scheduling and management of deliverables to a high quality; Continually seeks excellence in process and outputs
Ability to operate, and aggregate management data into KPI dashboards; executing an effective reporting machine on how well different governance processes are performing


5+ years experience working with IT governance/compliance.

Experience with data extraction and dashboard creation for exposing process KPIs.

Knowledge of scripting to automate governance machines

Expert knowledge of the office suite set of applications, and SharePoint as a non-developer

Working knowledge of HTML as part of maintaining knowledge sites.

3+years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals

We're Hiring: Microsoft Config Engineer (Build Manager) Top Financial NYC - AVP Level

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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Microsoft configuration engineer / Build Manager

Enterprise Infrastructure organization with responsibility for building a continuous and automated build process of a Microsoft stack in support of a leading global financial services firm.

Quickly recognize the operational and technical challenges associated with the evolution of the Stack, and have a strong systems level understanding of the commercial offerings, tools and systems engineering practices required. To be successful the Configuration Engineer must understand the currentinfrastructure, and be able to build different automated environments. This Knowledge must include software, network, and Server configuration know how.

The Configuration Engineer is a member of CTO team responsible for execution and delivery of an automated Microsoft deployment process, its evolution and integration of new / changing components into the build as needs arise.

This position will work closely with a team responsible for operating, maintaining, and supporting release management tools, including the build, source control, and other tools required in maintaining and supporting an automated Microsoft deployment stack.
Experience building and releasing software in the Microsoft .NET Stack

Demonstrated experience in automation of build and configuration tasks, into continuous builds, and releases in a Microsoft environment

Experience installing, configuring, and maintaining Windows operating systems and applications
Demonstrated scripting abilities in the Microsoft Environment (PowerShell)

Assist in the evaluation of new configuration management tools 

Issue and bug management, collaboration, and deployment

Maintain build and deployment automation environments

Working closely within MS Enterprise Integration, maintains continuous availability of mission critical internal systems and supports users of these systems across multiple environments

Working with senior management, helps set Configuration Management strategies that result in the continuous delivery of high quality software

A degree level or higher in Engineering, Computer Science or equivalent technology domain

5+ years experience working as a Sr. Configuration Engineer in a Microsoft environment. Cross specialization to Unix systems is a bonus.

3+years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals.

We're Hiring: Enterprise Architect – Solution Delivery (Top Financial Firm, NYC) - VP Level

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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Enterprise Solutions Architect (Vice President Level): with broad responsibility for designing solutions architectures aligned to infrastructure strategy, and selecting appropriate technology products and services to support a leading global financial services firm.

The Enterprise Solution Architect will provide overarching guidance for the evolution of an existing large and distributed enterprise information management, display, and processing systems.

In this role, the Enterprise Solution Architect must quickly recognize the operational and technical challenges associated with this system evolution, and have a strong systems level understanding of the commercial offerings, tools and systems engineering practices required.

The Enterprise Solution Architect will lead a process that will capture the technical and functional requirements of various lines of business, and use this together with data on external industry trends, competitive positioning, and current capabilities infrastructure to develop a comprehensive solution architecture.

The Enterprise Solution Architect will present solutions both internally and externally to vendors, internal clients, and the CTO office.
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As this role is both very technical and requires a high degree of complex stakeholder management, the skills of the individual are paramount to the success of the role. The ideal candidate will have a deep technical background, with an understanding of the industry, and skills in the development of infrastructure strategies in an environment that may often have conflicting business and technical requirements.

A degree level or higher in Engineering, Computer Science or equivalent technology domain

10+ years experience working with infrastructure technologies.  Experience with application development will also be considered a benefit for the role.

Core computing; Personal Computing; Data; Instrumentation

10+years experience working in Financial Services with preference given to candidates with relevant experience in the primary industry verticals

ANOTHER risk officer RETAINS LAWYER in JPMorgan 'Whale' trade

ANOTHER risk officer RETAINS LAWYER in JPMorgan 'Whale' trade

Another JPMorgan Chase & Co risk manager, who worked for a division that lost at least $5.8 billion on a series of complex derivatives trades, has hired a lawyer in connection with probes into the so-called "London Whale" trading debacle, according to sources familiar with the investigations.
Federal authorities are investigating an allegation that some of the bank's traders in London may have tried to hide hefty losses, and JPMorgan is conducting an internal probe.
Peter Weiland, who was head of risk at JPMorgan's Chief Investment Office from late 2008 until the beginning of 2012, is one of at least six people associated with the case who have hired attorneys. He has been reassigned by the bank to a new risk control team at the overhauled Chief Investment Office where the loss occurred.
Weiland, who is based in New York, did not return requests for comment, and his lawyer declined to comment.
Of the six people who have hired attorneys, all but Weiland have either been fired by the bank or left on their own accord.
It is not clear how much interest federal authorities have in Weiland over an incident that has proved to be a major embarrassment for JPMorgan CEO Jamie Dimon. There is no indication that authorities believe Weiland has done anything wrong.
It is not unusual for traders to retain counsel in such high-profile probes, in part to shield themselves when critical discussions occur about possible criminal or civil wrongdoing.

Tuesday, August 21, 2012

Kass: Get Ready for the Fall

Kass: Get Ready for the Fall

Buffett’s Exit From Muni-Bonds Signals Trouble Ahead for Local Govts

Buffett’s Exit From Muni-Bonds Signals Trouble Ahead for Local Govts

Quant: A Dangerous Word Frequently Misused and Misunderstood

Quant: A Dangerous Word Frequently Misused and Misunderstood

 2004 was the tipping point for the word “quant,” when it moved from Wall Street jargon to popular vocabulary due to Emanuel Derman’s autobiography, My Life as a Quant. The word was used in the financial press before 2004, but always accompanied by a shorthand definition. Since 2004, its use has exploded, and it is rarely accompanied by even pro forma definition. It has also shown up in non-financial writings.

The modern sense of the word goes back to the mid 1980s, but it didn’t become common even in quantitative financial circles for another decade. It has been used in many overlapping senses, with different connotations and in different contexts, often with only vague definition, and has evolved over time. No precise definition will cover all historical uses, or even all current uses.

Best Buy’s Tough Earnings May Lift Schulze’s Hopes a Little

Best Buy’s Tough Earnings May Lift Schulze’s Hopes a Little

Best Buy‘s second-quarter earnings are in, and they are rough.
The company’s operating income slid 52 percent, to $124 million, from the period a year earlier. And its earnings per share from that operating income dropped to 20 cents a share, badly missing the average analyst estimate of 31 cents a share, according to Thomson Reuters.
Using generally accepted accounting principles, Best Buy’s net earnings slid nearly 91 percent, to $12 million, from the year-ago period.

Monday, August 20, 2012

Did the Bounds of Cyber War Just Expand to Banks and Neutral States?

Did the Bounds of Cyber War Just Expand to Banks and Neutral States?

NYU finance prof./valuation theorist Aswath Damodaran now gives Facebook (FB +5.3%) an intrinsic value of $23.94/share, below the $29/share value he gave it in May. Facebook's Q2 report has led Damodaran to lower his revenue growth and operating margin forecasts, as well as reduce his expected sales-to-capital ratio. Damodaran says he has a limit order to buy Facebook at $18.

NYU finance prof./valuation theorist Aswath Damodaran now gives Facebook (FB +5.3%) an intrinsic value of $23.94/share, below the $29/share value he gave it in May. Facebook's Q2 report has led Damodaran to lower his revenue growth and operating margin forecasts, as well as reduce his expected sales-to-capital ratio. Damodaran says he has a limit order to buy Facebook at $18.

Why China Can't Afford a Confrontation With Japan

Why China Can't Afford a Confrontation With Japan

In its latest confrontation with Japan over disputed islands in the East China Sea, China might seem to have all the leverage. China is a rising power, having passed Japan as the world’s second-largest economy, while Japan is stuck in the doldrums. With few growth prospects at home, Japanese companies like Toyota (TM)and Sony (SNE) need to sell to Chinese consumers. China is also the world’s biggest supplier of rare earth metals, crucial ingredients for high-tech products like Japanese-made hybrid cars.
Don’t be fooled, though. China’s ability to punish Japan for detaining and then expelling Chinese activists over the weekend is limited, argues Ting Wei, a professor in the department of government and international studies at Hong Kong Baptist University. “The Chinese government will be cautious,” he says.

Hedge fund wants Spokane's Clearwater Paper sold in parts

Hedge fund wants Spokane's Clearwater Paper sold in parts

Wall Street hedge fund SAC Capital is pressing Spokane-based Clearwater Paper to split its operations in two so one or both can be sold.

Cohen's SAC Capital Advisors met with Clearwater's directors Thursday to urge they split the company and "pursue the divestiture of one or both businesses to one or more strategic and/or financial buyers," the SAC filing says.
The fund also proposed hiring an investment bank to identify potential buyers, and expanding the six-member board with two new independent directors.
SAC -- among the biggest and most successful hedge funds -- owns 1.6 million shares, or 7.1 percent, of Clearwater's stock.
Clearwater calls itself the largest producer of tissue paper for private-label brands sold by grocery, drug, mass merchants and discount stores, and is a leading producer of bleached paperboard used in food packaging and commercial printing. It has 15 manufacturing plants in the U.S. and Canada, and reported second-quarter net income of $21.5 million on sales of $473 million.
The company, created in 2008 as a spinoff of the non-timber operations of Potlatch, has 3,700 employees.

CHART: Bush Vs. Obama On Private And Public Sector Job Creation

CHART: Bush Vs. Obama On Private And Public Sector Job Creation

Even with today’s disappointing and troubling jobs report, private sector job creation under President Obama has far exceeded private sector job creation under President Bush. 40 months into his presidential term, there are currently more private sector jobs in the economy than when Obama came into office. At the same point in President Bush’s term, the total number of private sector jobs was still down 1.7 percent from where it began.
The numbers are even starker when measuring each president’s record from the moment job creation returned. Private sector job creation returned in February of 2010, the 13th month of President Obama’s term. Since then, the economy has added 4.3 million private sector jobs, a 4 percent increase.
Under President Bush, the economy stopped shedding private sector jobs in July of 2003, fully 30 months into his administration. From that point until May of 2004, the economy added just 1.5 million private sector jobs, an increase of only 1.4 percent.
But there is one area of job creation where President Bush clearly outshines President Obama: the public sector. Public sector employment is now down 608,000 workers since January 2009, a 2.7 percent decline. At the same point in President Bush’s term, public sector employment was up 3.7 percent. If, over the past 40 months, public sector employment had grown at the same pace as it did in President Bush’s first term, there would be 1.4 million additional people at work right now. That’d be enough to bring the unemployment rate down by nearly a full percentage point.


END OF AN ERA: Once-Dominant VC Firm Kleiner Perkins Gets Blown Up In Groupon, Zynga, And Facebook

END OF AN ERA: Once-Dominant VC Firm Kleiner Perkins Gets Blown Up In Groupon, Zynga, And Facebook

Sunday, August 19, 2012

Moody’s, S&P Must Face Fraud Claims In Subprime Investor Suit

Moody’s, S&P Must Face Fraud Claims In Subprime Investor Suit

Moody’s Corp. (MCO) and Standard & Poor’s lost a bid for dismissal of fraud claims in a suit by investors claiming the companies falsely assigned inflated ratings to notes sold by Morgan Stanley (MS) that were backed by subprime mortgages.
U.S. District Judge Shira Scheindlin yesterday declined a request to throw out fraud claims against the two rating companies and a claim of aiding and abetting fraud against Morgan Stanley. Scheindlin narrowed the suit, dismissing claims by three of the 15 plaintiffs.
Scheindlin also dismissed the investors’ fraud claims against the bank and aiding-and-abetting claims against the rating companies, ruling that it was the rating companies, not Morgan Stanley, that issued the ratings.

Friday, August 17, 2012

Idiot Suggestion Of The Day: Let's Nationalise Facebook

Idiot Suggestion Of The Day: Let's Nationalise Facebook

Yes, yes, I know that the writers over at Slate are encouraged to be contrarian. But really this has to be well up there as a competitor for idiot suggestion of the day: let’s nationalise Facebook.
One could, I suppose, argue that Facebook collects a bit too much of our data and doesn’t respond to consumer desires all that well: neither of them problems that government ownership has ever been known to solve.
However, it’s rare to see a suggestion like this that managed to fail before it gets to the end of the first sentence

Thursday, August 16, 2012

Facebook Plunges Again As Lockup Period Ends

Facebook Plunges Again As Lockup Period Ends

Shares of Facebook are plunging to all-time lows after the expiration of a lock-up period, which has provided early investors and insiders with an opportunity to exit.

Wednesday, August 15, 2012

We're Hiring: Investor Relations Associate - Top Financial Firrm, NYC

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Candidates MUST HAVE green card, US CITIZENSHIP, or valid current h1b with AT LEAST 3 YEARS LEFT.


Call or text 203-29-QUANT 203.297.8268 if you have any questions and are qualified for this role or others posted.

Please speak clearly if leaving a voicemail, and let me know the role you are applying for and if you have sent a resume or not. You may call or text at any time. All discussions and messages are fully confidential...

Email resume onto QuantRec @gmail.com & Quant at QuantRec dot com.

Goto http://www.QuantRec.com for updates on jobs, bookmark it!

Also include the best times to reach you over the near term (this week & or next week).

Candidates MEETING MOST OF the SPEC below will be contacted PROMPTLY.
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A talented generalist to join Investor Relations team of large hedge fund.  

Responsibilities include communicating with investors, conducting research, and completing a variety of special projects.  Associates may also attend and support investor operational due diligence meetings and calls, and assist with day-to-day client service and internal operations.  

This role involves exposure to many areas of the firm and may eventually provide the opportunity to assume additional responsibilities, including marketing and product development responsibilities, managing investor meetings, and/or managing portions of operational processes.  

Candidates should have outstanding communication skills, strong organizational abilities, an extraordinary sensitivity to detail, and a demonstrated record of intellectual achievement.  Previous experience in financial services is not required, though ideal candidates will have the ability to quickly grasp financial concepts, and interest in financial markets is a decided advantage. 

Search Pointers: 

- 2 years of experience (no more, no less).

- Open to degree 

- Quantitative background is ideal 

- Excellent communication skills both written & verbal 

- Demonstrated interest/experience in the financial industry

Highest & Cheapest Gas Prices by Country - Pain At The PUMP?

Highest & Cheapest Gas Prices by Country

The next time you complain about the price of gas, remember: It's all relative. Filling up the same 39-gallon tank of a Chevrolet Suburban in Venezuela costs $3.51. In Norway it's $394.68.
The average cost to fill up fell almost 8 percent worldwide in the last three months. Relief at the pump was not shared equally. A sharp price drop in the U.S. silenced squabbles in the presidential election, while a hike in Brazil meant people had to work 15 percent longer for the same amount of gas.

Tuesday, August 14, 2012

Groupon: Social media's Pets.com?

Groupon: Social media's Pets.com?

China Is Running Out Of Money

China Is Running Out Of Money

Last week’s release of disappointing economic and trade data for July has, predictably, renewed calls for additional stimulus.  In May, Beijing ramped up its support for the economy, and observers had expected activity to pick up by last month.
Why has the economy so far failed to respond?  There are various reasons, but perhaps the most important is that the country is running out of money for stimulus.

Headhunters Reveal 11 Ways To Ruin Your Chances Of Getting A Job

Headhunters Reveal 11 Ways To Ruin Your Chances Of Getting A Job

It’s no secret that working with a headhunter or recruiter can be an effective way to advance your career.
Headhunters often have access to jobs that are not advertised elsewhere and can speed up the hiring process between an employer and potential candidate.
The trick, however, is understanding how a headhunter operates.
“As a career management coach, it is always surprising to me that even senior level job seekers often don't know that ‘headhunters’ work for the companies, not the candidates,” says Bettina Seidman of SEIDBET Associates.

If Groupon Is Hurt By A Bad Economy In Europe, Something's Wrong With Groupon

If Groupon Is Hurt By A Bad Economy In Europe, Something's Wrong With Groupon

Private equity deal at play for Focus Media

Private equity deal at play for Focus Media

US buyout fund Carlyle Group and some of China's top private equity funds are targeting the biggest ever delisting of a New York-listed Chinese company, attempting to privatize a firm directly targeted by shortseller Muddy Waters.
The offer is the latest, and biggest by some distance, in a string of attempted management-led buyouts by US-listed Chinese companies, whose reputation among US investors has suffered after a series of alleged accounting scandals, Reuters reports.
Carlyle, the world's biggest fund by assets, FountainVest Partners, CITIC Capital Partners, CDH and China Everbright are backing a proposed US$3.5 billion delisting of display-advertising firm Focus Media Holding, working with the company's chief executive.
Private equity funds have been picking over hundreds of China firms listed in the United States, looking for viable takeover targets, but until now the deals have all been below US$1 billion, largely because of difficulties getting financial backing.
“Where these firms have often struggled with the delisting process is in getting financing to back them,'' said Paul Boltz, partner at law firm Ropes & Gray, which has worked on a number of take-private transactions.

BUZZ Before the Bell: Groupon CRASHES 21%, Apple Near All-Time High

BUZZ Before the Bell: Groupon CRASHES 21%, Apple Near All-Time High

Shares of Groupon (NASDAQ:GRPN) are plunging 21 percent in early morning hours. The company reported second quarter earnings of $28.4 million, compared to a net loss of $107.4 million a year earlier. However, revenue was lower-than-expected at $568.3 million. “We had a solid quarter despite challenges in Europe and continued investment in technology and infrastructure,” said Andrew Mason, chief executive officer. “We’ve deepened our relationships with a growing base of merchants and customers worldwide, demonstrating progress as we work to unlock the opportunity in local commerce.”