'Pressure'에 해당되는 글 3건

  1. 2009.02.21 Facebook Bows To Peer Pressure by CEOinIRVINE
  2. 2009.01.29 Will Wells Fargo Regret Buying Wachovia? by CEOinIRVINE
  3. 2008.12.12 Commentary: Let Michelle Obama's real self shine by CEOinIRVINE

Mounting criticism has forced the social network to revert to its old terms of service.

BURLINGAME, Calif. - The wisdom of the crowds has turned into peer pressure for Facebook.

Following criticism of its recently amended privacy policy, the social network reverted back to its former terms of service Wednesday.

"Over the past few days, we have received a lot of feedback about the new terms we posted two weeks ago," Chief Executive Mark Zuckerberg said in a note on the company's Web site. "Because of this response, we have decided to return to our previous Terms of Use while we resolve the issues that people have raised."

The hubbub over Facebook's terms of service erupted last weekend after the Consumer's Union's Consumerist.com blog posted an entry explaining what the terms of service changes would mean--basically, that Facebook would be able to use member messages, photos and other content even after the the member canceled his or her account. A privacy discussion in the blogosphere quickly came to a head.

Monday, Zuckerberg responded on the corporate blog. "We wouldn't share your information in a way you wouldn't want," he wrote. "The trust you place in us as a safe place to share information is the most important part of what makes Facebook work." Less than 36 hours later, Facebook recanted its position.

Maybe Facebook is learning from past mistakes. The company's Beacon advertising program, launched in late 2007, set off a storm of protests from members who were concerned that Facebook would provide advertisers with too much of their personal information. Facebook took about a month to respond to members' criticisms before making changes to Beacon.

"Instead of acting quickly, we took too long to decide on the right solution," Zuckerberg wrote at the time. "It took us too long after people started contacting us to change the product."

Andrea Matwyshyn, a Wharton Business School law professor and expert on user-license agreements, says Facebook's latest flap shows the complexities of online privacy. "Part of what Facebook is struggling with is a legal ambiguity," she says. "There is a fundamental gap in the law regarding ownership of information."

Posted by CEOinIRVINE
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The merger puts one of the credit crisis's good guys under pressure.

With a greater-than-expected $2.5 billion fourth-quarter loss, San Francisco-based Wells Fargo is proving no bank is immune from the credit crisis, even though it has come through the storm in relatively stronger shape.

Wells Fargo (nyse: WFC - news - people ) is steeling itself for rising loan losses, packing $5.6 billion away in credit reserves and tripling its credit provision to $8 billion. It wrote off $37 billion of risky Wachovia (nyse: WB - news - people ) assets that had been part of a $90 billion pool of troubled loans.


Wachovia's fourth-quarter numbers weren't consolidated into Wells Fargo's results. It had a disastrous $11 billion loss in the period. That said, it beat the $23 billion third-quarter loss, which prompted Wachovia's sale in the first place.

The merger and extra reserving pressured capital ratios. Though still well capitalized, Wells Fargo's 7.9% Tier 1 ratio is on the low end of large U.S. banks even though Wells said it was keeping its 34-cent quarterly dividend intact and wouldn't need any more capital out of the Troubled Asset Relief Program.

Other banks, including Citigroup (nyse: C - news - people ) and Bank of America (nyse: BAC - news - people ), have slashed their dividends almost to nothing after getting government money out of the TARP program.

Analysts said Wells Fargo's own loan portfolios, especially its exposure to the rough California real estate market, indicate signs of further stress ahead. Charge-offs as a percentage of loans rose to 2.69% from 1.96%.

"This shows that the recession is driving increased loan defaults--even in the more conservative Wells Fargo portfolio--and does not bode well for the industry or the economy at large," said Bart Narter, an analyst at Celent.


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Posted by CEOinIRVINE
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Editor's Note: Angela Burt-Murray is the editor-in-chief of Essence magazine. She lives in New Jersey with her husband and two sons. Read veteran journalist Gwen Ifill's interview with Michelle Obama on Essence.com

Angela Burt-Murray says Michelle Obama shouldn't be pressured to hide her considerable ability.

Angela Burt-Murray says Michelle Obama shouldn't be pressured to hide her considerable ability.

NEW YORK (CNN) -- She's been clear about her priorities.

The self-professed Mom-in-Chief is focused on getting her family settled into a new home at 1600 Pennsylvania Avenue, buying a puppy, and enrolling daughters, Malia, 10, and Sasha, 7, in their elite new private school.

Admirable concerns and certainly ones that every mother, or father, would consider in the face of any move -- let alone a move to the most famous address in the world. But when you're discussing a woman as accomplished as Michelle Obama, you can't help but wonder: Can't there be more?

Perhaps, but for the nation's first black first lady, it won't be easy.

When black women initially met the statuesque double Ivy League-degreed hospital exec with coiffed hair and smart outfits, it was love at first sight: supportive spouse, loving mother -- the total package.

On the campaign trail, many journalists noted she was a gifted speaker, pulling in large crowds at solo events, capturing the attention of audiences for 40 minutes and more, without notes, even holding her own while sharing the stage with megawatt personalities like Oprah Winfrey and Maria Shriver.

For us she was instantly recognizable. She was a self-made six-figure sister who was like so many women in our communities -- leading church boards, chairing neighborhood programs, running the show at work -- as well as a reflection of the women we saw in our own mirrors. But for some whites, she was different, a bit unsettling. Not what they were used to. And then she made that infamous comment:

"For the first time in my adult life, I'm really proud of my country."

You could practically hear white folks saying, "Aha!" The sound bite heard around the world would be impossible for her to fully recover from, at least during the campaign. She was vilified -- labeled Mrs. Grievance and Angry Black Woman.

Like Michelle, Hillary Clinton was attacked for everything from her cookie-baking and Tammy Wynette comments to the national health care debacle she led during her husband's administration. The attacks on Michelle, though, were rooted in racist stereotypes.

There was the Fox News producer who dubbed her Obama's Baby Mama; the incendiary New Yorker magazine cover that featured an Afro-wearing, fist-bumping, Uzi-toting Michelle; the hunt for a videotaped panel that didn't exist, in which Michelle Obama was allegedly featured with controversial Minister Louis Farrakhan, talking about "Whitey" as if channeling 1970s TV character George Jefferson.

The Huffingtonpost.com ran a piece called "Why Do We White People Dislike Michelle Obama?" It was based on a New York Times/CBS News poll showing that 24 percent of white Americans had an unfavorable opinion of her.

Huffingtonpost.com later pointed out that they omitted the number of people who said they were "Undecided" (17 percent) or "Haven't Heard Enough" (37 percent) about Michelle Obama, but the negative perception had by then been encoded.

More recently, there was the misguided Salon.com essay by African-American journalist Erin Aubrey Kaplan about Mrs. Obama's behind, a piece that harkened scarily back to the story of Saarjite Baartman, the young South African woman who was brought to Europe in 1810 by an English surgeon so fascinated by her large bottom that he changed her name to Venus Hottentot and displayed her naked in cages in museums for more than five years. Seriously, people?

The attacks got so bad at one point that blogger Gina McCauley of Whataboutourdaughters.com said Michelle was becoming a "verbal punching bag." So she launched a Web site called MichelleObamawatch.com to keep track of every article, video clip and interview to mobilize her visitors to voice their concerns.

"Whether you support her husband or not," McCauley wrote on the site last July, "Let's be clear, any and every black woman who walks in her footsteps can expect the same treatment, so we might as well pull a Gandalf, draw a line in the sand and yell, 'Thou shall not pass!' "

White America may be trying to relax -- after all they really like her husband. Yet even after Barack Obama's decisive victory, it still seems that Michelle's team wants to dial down her fabulousness. And black women know why.

Allison Samuel's recent Newsweek cover story "What Michelle Means to Us" clearly articulates the double-edged sword she faces: "While every first lady -- and plenty of professional women -- walk the line between being confident and seeming like a bitch, African-American women are especially wary that being called 'strong' is just another word for 'angry.' "

It's the thing that many black woman face at their jobs -- the appearance of confidence and ability can be threatening to people. And so Michelle's smart outfits were replaced with sensible sweater sets. Her focus became military families and photo-ops of her packing supplies.

There's certainly value in Michelle Obama playing the traditional first lady role as she greets heads of state, travels the world meeting with foreign dignitaries, and continues her important work with military families.

But lest everyone decide that Mom-in-Chief is enough to keep her busy for the next four to eight years, Michelle has said in interviews that she and her family always try to get involved in the communities in which they live.

In Washington, which has some of the nation's worst high school graduation rates, and HIV/AIDS infection rates that rival African countries, there will be no shortage of issues for the new first lady to tackle.

Perhaps her team could take a bit of inspiration from the hit NBC series The West Wing. During the fictitious first term of President Jed Bartlett, played brilliantly by Martin Sheen, his administration is unable to achieve any of its goals because it tries to manage to the middle and not upset anyone. Ultimately, they decide to create the sort of change they campaigned on by letting "Bartlett be Bartlett."

Like most black women, I look forward to watching Michelle be Michelle, no matter what form that takes.

Posted by CEOinIRVINE
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