'largest'에 해당되는 글 3건

  1. 2008.12.13 Obama: Think Smart Cards by CEOinIRVINE
  2. 2008.12.11 Yahoo investor urges search unit sale to Microsoft by CEOinIRVINE
  3. 2008.11.27 China Takes An Ax To Rates by CEOinIRVINE

Obama: Think Smart Cards

Business 2008. 12. 13. 09:18
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Barack Obama has announced the single largest new investment in the nation's infrastructure since the creation of the interstate highway system in the 1950s under Eisenhower. Speculation begins to build up about the precise nature of this investment.

I have been in Singapore for the last two weeks and have been observing how this tiny country has created a superbly modern infrastructure that flows seamlessly by leveraging technology and process automation.

From the minute I walked through immigration, I began noticing the country's well-conceived mechanisms for efficiency enhancement. Singapore residents have a special smart card that lets them clear immigration without human intervention. Taxis link up via transponders to a central system through which the country implements congestion control, including peak hour and business district surcharges.

As I have watched the city in motion during my stay, it has made me think about the possibilities for infrastructure modernization in the U.S., now that we're embarking on a new era. The problems--health care, energy, traffic congestion, education, poverty and security--each have major implications when you apply smart-card-based process control in the Singaporean way.

Dominique Trempont, former CEO of smart-card firm Gemplus Corp. (now part of Gemalto), believes that the U.S. should roll out one multi-application smart card to the entire population in order to automate various government and private-sector functions. "The card can be partitioned into application segments, and the companies rolling out applications on it can pay for the privilege," Trempont says.

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The first application category for a smart card is a government-owned, centralized patient record database that then becomes the heart of the U.S. health care system. A patient goes to a new doctor, and the doctor's office can access the records with the card, without the hassle of gratuitous paperwork handling by multiple office administrators and frustration on the part of the patient. Insurance claims and processing could also be integrated with this central system, closing the loop with the doctor's office and the insurance company.

A second application category could belong in the realm of security and identity. Passports and driver's licenses could be implemented on the smart card: It can enable a smooth transition through immigration and other functions, such as traffic management. After all, why do we need cops to monitor whether drivers are staying within the speed limit? If there is scientific evidence that the most energy-efficient speed at which cars should be driven is 60 mph, then drivers should pay for driving above that speed limit. Fines can be automatically charged on a smart card. Congestion-control applications can also be implemented on the same infrastructure based on time, geographical zoning, vehicle type (with incentives for fuel-efficient cars and penalties for gas guzzlers), etc.

"Not only is a smart-card-based infrastructure great for efficiency enhancement, it can be a major revenue generator," Trempont says. No kidding! If every car that drives above 60 mph is charged a fine, and there were an efficient way of collecting congestion taxes, that revenue alone could be enough to finance the $136 billion that the nation's governors need for infrastructure projects related to roads, bridges and railway. It will also generate ongoing revenue for years to come that can pay for many more ambitious projects.


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Posted by CEOinIRVINE
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One of Yahoo Inc.'s largest shareholders, Ivory Investment Management LP, is urging the Internet company to pursue a sale of its search unit to Microsoft.

In a letter to the company's board, the investment firm proposed a deal Wednesday in which Microsoft (nasdaq: MSFT - news - people ) would acquire Yahoo (nasdaq: YHOO - news - people )'s search engine and Yahoo would retain 80 percent of revenue generated by search queries on its own site.

Ivory said Yahoo could get about $15 billion from Microsoft for the search platform alone, a deal it said would give shareholders a value of $24 to $29 per share, or more than double Yahoo stock's closing share price Tuesday of $12.19.

Yahoo shares rose 62 cents, 5.1 percent, to $12.81 in morning trading Wednesday.

Yahoo Chief Executive Jerry Yang said recently that he would resign, a response to shareholder discontent that brewed after Yahoo rebuffed a $47.5 billion takeover offer from Microsoft for the entire company. Before stepping down, Yang said he was still open to some kind of a deal with Microsoft, after antitrust concerns sank Yahoo's planned advertising partnership with Google Inc. (nasdaq: GOOG - news - people )

Microsoft CEO Steve Ballmer has said a takeover of Yahoo is off the table but has expressed interest in the company's search business.

In the letter Wednesday, Ivory took Yahoo's board to task for not seeking a deal with Microsoft more aggressively and accused the company of ignoring shareholder interests. The firm holds 21.4 million, or about 1.5 percent, of Yahoo's shares.

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China Takes An Ax To Rates

Business 2008. 11. 27. 04:15

Beijing enacts the largest cut in more than a decade to support the country's faltering economy.

China continues to make bold moves to boost its faltering economy. The People's Bank of China made a 108-basis-point cut to interest rates on Wednesday following the markets' close as it continued its recent policy of monetary loosening in the face of slowing growth, export and industrial production figures.

Though a rate cut was expected by the central bank, its magnitude--the largest since the Asian financial crisis in October 1997--was surprising. "Bottom line is the Chinese authorities think the economy is slowing down fast," said Nigel Rendell, a senior emerging market strategist at RBC Capital Markets.

Earlier this week, the World Bank cut its forecast for economic growth in China to 7.5%, from 9.2%, though many economists expect an even slower rate of expansion, of anywhere between 2.0% and 7.0%.

This is the fourth time in three months that Beijing has reduced Chinese interest rates, but the several prior reductions, in October and August, were by just 27 basis points each time. China's benchmark rate now stands at 2.52%. The central bank also lowered its reserve requirements by 200 basis points for large banks and by 100 basis points for smaller banks on Wednesday.

The government has meanwhile been shifting fiscal gears as well, announcing on Nov. 9 a $586.0 billion fiscal stimulus plan. China is keenly monitoring the economic moves made by its key export partner, the United States, where consumer spending has recently slowed. (See "Americans Earn More, Spend Less.") Exports represented 37.1% of China's nominal gross domestic product in 2007.

China's economy is still feeling the impact of previous measures that Beijing made to cool the economy and keep a lid on inflation; it was tightening monetary policy in the first half of this year, when the economy appeared to be growing too quickly. But in October, a lower than expected level of imports for the month showed that China was not picking up the slack from slowing economies elsewhere. (See "China's Disquieting Trade Surplus.")

China's currency actually strengthened slightly after the rate cut: the U.S. dollar bought 6.82 yuan late Wednesday in Beijing, down from the 6.83 yuan it bought on Thursday. Commodities were firmer, though, with spot oil futures up 89 cents, at $51.66 a barrel on the Nymex, and copper futures up 5 cents, at $1.7090 a pound.

Rendell expects the currency to stay between 6.80 and 6.90 against the dollar, which is the range around which it has hovered since June. If exports suffered more markedly, the analyst said Beijing might let the yuan weaken further in 2009. But, given that China still has a notable current account deficit, there would undoubtedly be strong international pressure to keep it from going down that route any time soon, which would put struggling exporters in the West at a disadvantage.


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