Archive for November, 2008

Reuters Summit - Infosys BPO sees lower 2009 attrition levels

Tuesday, November 25th, 2008

Infosys BPO, a unit of India’s No. 2 software services firm Infosys Technologies <INFY.O>, plans to bring down employee attrition levels next year, but will closely watch underperforming employees, a company executive said on Tuesday.

The number of job-hopping employees in India’s once highly competitive business process outsourcing (BPO) sector has plummeted in the face of job-security fears fueled by a widening global economic crisis.

Infosys BPO has no plans to cut jobs but will strictly adhere to its employee performance appraisal program and, given the current market condition, decide whether to give underperforming employees a chance to improve, the executive said.

“Some kind of irrational cut across the board is never going to happen, but yes, the bottom 10 percent of performers will get weeded out,” Anantha Radhakrishnan, a vice president at the outsourcing firm, told the Reuters India Investment Summit.

The company’s attrition rates have steadily declined over the last couple of years from 43 percent in 2006 to about 32 percent in the second half of this year.

Radhakrishnan said the company currently projects a further decline in attrition levels to the low 20 percent range in 2009.

“It’s a great opportunity for a corporation like us to tell our employees that you will have your job tomorrow, provided you do three or four things better,” Radhakrishnan said.

HIRING SLOWDOWN

As the world’s biggest economies, including the United States and Japan, battle recession, India’s outsourcing sector is also bracing itself to cope with the slump.

Even though it would not resort to cost cutting through layoffs, Radhakrishnan said his company would be cautious while hiring and would recruit fewer people next year.

India’s BPO sector employs about 700,000 people and is expected to provide direct employment to about 2 million by 2012.

Bangalore-based Infosys BPO had about 17,500 employees on its payroll as of Sept. 30, up from 3,966 in 2005.

India produces about 2.5 million graduates every year, but only about 15 percent are considered suitable for employment in the BPO sector. Fueled by a skills shortage, wages rose by 10 percent to 15 percent a year in recent years, but increases are expected to slow, in keeping with the gloomy economic scenario.

“It is a supply-and-demand equation in the market so you know which way it (wages) will head if I go by the pure market economics of it,” Radhakrishnan said.

Fibromyalgia patients show brain abnormalities

Tuesday, November 25th, 2008

French researchers have shown that patients with fibromyalgia have abnormal blood flow in the brain, which may be related to the underlying cause of the condition.

“We found brain functional differences between patients with fibromyalgia and those who do not have the disorder,” lead investigator Dr. Eric Guedj told Reuters Health. “These brain functional abnormalities were correlated with the severity of the disease, but not with anxiety or depression, in regions of the brain known to be involved in pain processing.”

To visualize these abnormalities, the researchers used single photon emission computed tomography (SPECT), a special type of CT scanning test in which a small amount of a radioactive compound is injected into a vein. This allows SPECT to make a detailed image of areas in which the radioactive material is taken up by the cells, providing information about blood flow to tissues and metabolism in the body.

Guedj of Center Hospitalo-Universitaire de la Timone, Marseilles, and colleagues studied 20 patients with fibromyalgia and 10 healthy individuals. The findings are reported in the Journal of Nuclear Medicine.

Overall, the findings “suggest that fibromyalgia may be defined as a brain functional disorder involving these regions,” Guedj concluded.

The underlying cause of fibromyalgia is not known. Previously the classification of fibromyalgia has been questioned by some and thought by others to be associated with depression. Other possible causes are sleep disorders, infection, abnormalities of the nervous system and changes in muscle metabolism.

Hundreds wait at Verizon stores for BlackBerry Storm

Tuesday, November 25th, 2008

Hundreds of people lined up at some Verizon Wireless stores on Friday to buy the BlackBerry Storm, the first touch-screen phone from Research In Motion that aims to compete with Apple’s iPhone.

More than 200 people had waited at a Verizon store in mid-town Manhattan early in the morning, many of whom were turned away after it ran out of the new phones less than an hour after opening at 8 a.m. The angry customers caused a ruckus and police came to restore order.

Verizon said hundreds of others were in lines outside its stores up and down the U.S. east coast, but added that it had “plenty of phones” and would keep getting more shipments. It declined to give specifics on inventory levels.

Anthony Lewis, who was at a Verizon store near New York’s Bryant Park, at first tried to get the Storm at electronics stores nearby. But he was disappointed, despite putting his name on a list ahead of the Friday debut.

“I had two pre-orders at Best Buy and Circuit City. Now I’m here and I’m hearing it’s sold out,” said Lewis, 28, of Brooklyn, New York. “I guess 8 a.m. in the morning is too late.”

A Verizon employee at the store told customers that if they ordered the phone online or in the store, they would get the gadget in five to seven days.

Vodafone Group Plc, part owner of Verizon Wireless, a venture of Verizon Communications Inc and Vodafone, had said on Thursday that it was struggling to meet demand for the Storm, which it launched on November 14.

Vodafone, which is giving away the phone to UK customers who sign a contract, had said it had thousands of pre-orders.

STORM OR BRIGHT SPOT?

After briefly rising as much as 5 percent Verizon shares were up 40 cents, or 1.5 percent, at $26.90 in afternoon trade on New York Stock Exchange where rival AT&T Inc shares were down 3 percent at $23.76. Both stocks have been volatile in recent months due to the weakening economic situation.

But analysts said the Storm launch was likely the cause of the share moves on Friday.

“We’ve heard nothing but good things about it. It’s a small bright spot in a really bleak world.,” said Charter Equity Research analyst Ed Snyder referring to the Storm. He said that he had even “heard from some competitors who thought it was pretty impressive.”

Verizon Wireless is making a big bet on the Storm for the crucial holiday season. The No. 2 U.S. mobile service heavily promoted four different phones last holiday season, but its focus this year is on the first touch-screen BlackBerry.

Both the Storm and iPhone cost $200 for customers who agree to a two-year service contract and both come with a built-in camera, and music and video players.

Verizon said it was getting reports of queues elsewhere in the country, with more than 100 people lining up outside a store in Bridgewater, New Jersey and another on L Street in Washington, DC. Spokeswoman Brenda Raney said it was too soon to say if stores were selling out.

“If a store has already run out, it’s evidence of pent up demand,” she said. “We don’t normally have people line up.”

However excitement over the launch stilled paled in comparison to iPhone debuts, when ardent fans camped out days in advance to ensure that they got their hands on the first devices. AT&T Inc is the exclusive U.S. carrier for the iPhone.

In San Francisco, smaller lines of about 20 were seen at Verizon stores at 8 AM. At one of them, an employee estimated that the store had sold about 100 phones since 7 o’clock.

Standing on line in San Francisco’s financial district, Fred Vassard, a systems administrator, said he owns both versions of iPhone, but was dissatisfied with its phone capabilities. He wants Storm for both work and personal use.

“It’s a touch-screen so it has more real estate, the reviews were so-so, so I’m hoping I can find some positives in it. But the phone part will work better,” he said.

After rising almost 7 percent at one point in the session Research in Motion’s U.S. shares were up 80 cents or almost 2 percent at $42.32 on Nasdaq.

Antigenics vaccine promising in small cancer study

Monday, November 24th, 2008

Biotechnology company Antigenics Inc said on Monday that its Oncophage vaccine extended survival in a small study of patients with brain cancer.

Results from the 12-patient study, which were presented at the annual meeting of the Society for Neuro-Oncology in Las Vegas, showed that patients who were vaccinated with Oncophage following brain cancer surgery lived on average for 10.5 months.

This compares with a historical median survival post-surgery of 6.5 months. All patients enrolled in the trial had received surgery, followed by chemotherapy and radiation, and had seen their cancer recur.

Four patients in the study lived for about 12 months, one lived for 2.5 years. The least successful patient lived four months.

In 2006, Oncophage failed to meet the main goal of a kidney cancer trial, making its approval in the United States unlikely. It has also failed a trial to treat skin cancer.

However, it was approved earlier this year in Russia to treat a subset of kidney cancer patients whose cancer has been fully removed following surgery and has not spread to other parts of the body.

Oncophage is designed to reprogram the body’s immune system to target only cancer cells bearing the fingerprint of the patient’s particular cancer, leaving healthy tissue intact.

Trials of only 12 people typically have limited significance as the results could be due to chance.

But Dr. Andrew Parsa, the lead investigator on the trial — who receives no compensation from Antigenics — said the reason the results are interesting is that they correlate to a patient-specific, measurable immune response.

In other words, the clinical response was related to a visible change in the patients’ immune system.

“This study demonstrated significant tumor-specific immune responses leading to a proliferation of T-cells which did not exist in these patients before vaccination,” said Parsa, who is associate professor at the University of California, San Francisco. “We look forward to completing the Phase II portion of this study and presenting results next year.”

Results from this trial have been reviewed by the National Cancer Institute, which plans to sponsor two new trials of the vaccine in brain cancer: one in children, and the other in adults.

About 19,000 cases of glioma, the most common type of brain cancer, are diagnosed each year in the United States, according to the National Cancer Institute.

Merkel urged to tackle financial crisis

Saturday, November 22nd, 2008

German Chancellor Angela Merkel faced rising pressure to step up stimulus measures in the face of the global financial crisis on Saturday, including calls from her own conservative colleagues to cut taxes now.

Merkel, whose government has launched a 500-billion euro bank bailout package as well as an economic stimulus plan in past weeks, has ruled out any tax cuts for 2009.

Merkel acknowledged in a newspaper interview that the effects of the global financial crisis on Europe’s largest economy were set to be felt well into next year.

“We have to expect the coming year, at least in the first months, to be a year of bad news,” she told Welt am Sonntag newspaper, according to an advance copy of the interview due to be published on Sunday.

Merkel said the stimulus package agreed by her government this month was meant to build a bridge for citizens and companies “so that things will turn upwards again in 2010.”

But Merkel’s Economy Minister Michael Glos said the measures, which are aimed at generating about 50 billion euros ($62.60 billion) in investment and contracts, were not enough.

Glos, a member of the Christian Social Union (CSU), sister party to Merkel’s Christian Democrats (CDU), said the plan was a first step.

“But I think we have to act more decisively. It would help the economic situation if we were now cutting taxes for small and medium earners,” Glos told weekly magazine Der Spiegel.

Germany fell into recession in the third quarter when its economy shrank by a much sharper than expected 0.5 percent. A top economy ministry official has also said the outlook for the final three months of 2008 is little better.

Merkel, whose government has forecast GDP growth of 0.2 percent next year, has been trying to strike a balance between launching measures to stimulate growth and keeping a close watch on Germany’s budget situation.

German parliamentarians gave the government the go-ahead on Friday to raise 18.5 billion euros in net new borrowing in 2009, exceding the 10.5 billion euros originally planned, budget committee members said.

Merkel’s ruling grand coalition had hoped to balance the federal budget by 2011, but government officials have acknowledged it will be difficult to reach that goal.

Calls on Merkel to launch new measures to boost the economy also came from a section within her CDU that represents the interests of Germany’s small and medium-sized companies.

“We have to go significantly further in our response to the current financial and economic crisis,” Josef Schlarmann, the head of the CDU group told Der Spiegel, calling for a reduction in company taxes.

The president of Germany’s chambers of industry and commerce (DIHK), Ludwig Georg Braun, said the government should not postpone necessary tax cuts.

“Taxes down, that’s the best growth programme,” he told B.Z. daily. “There must be no delay on this.”

Oncologists should be checked for burnout!

Saturday, November 22nd, 2008

A study in the European Journal of Cancer has said that oncologists should be regularly checked for burnout.oncologists Oncologists should be checked for burnout!

Burnout was somewhat alleviated by the feeling of personal accomplishment among oncologists.

The study found high levels of emotional exhaustion present in one in three clinicians with direct patient contact.

High levels of burnout were also present in one in four oncologists who did not have direct patient contact.

The main predictors of burnout were dissatisfaction with leave arrangements for the purpose of preventing or recovering from burnout.

NASA Successfully Tests ‘Interplanetary Internet’

Friday, November 21st, 2008

Although the crew of the spacecraft Endeavour experienced a glitch in the first space walk when an astronaut accidentally let her tool bag float away, NASA had a lot to celebrate as it announced success with a high-tech space program.

NASA, along with Vinton Cerf, a Google vice president, successfully tested a deep-space network modeled after the Internet. Engineers from NASA’s Jet Propulsion Laboratory (JPL) in Pasadena, Calif., have transmitted dozens of images to and from the spacecraft located 20 million miles from Earth using disruption-tolerant networking (DTN) software.

DTN, which sends information differently from the TCP/IP protocol used by the Internet, was developed a decade ago by NASA engineers and Cerf, who is known to many as the “father of the Internet” and is a visiting scientist at JPL.

Interplanetary Internet

“This is the first step in creating a totally new space communications capability, an interplanetary Internet,” said Adrian Hooke, team lead and manager of space-networking architecture at NASA.

The month-long experiment is the first of many planned tests to qualify the technology for use on future space missions. If NASA continues to succeed with DTN, astronauts on manned missions will be able to communicate with researchers worldwide. NASA is planning its next round of testing next summer, using DTN software on the International Space Station.

“We have been doing this test for a month and it has been working well and it’s exciting getting the word out that we had a good round of testing,” said Leigh Torgerson, manager of the DTN experiment operations center at JPL, in a phone interview.

“We needed some way of automating and routing this process in a standard way so any other space agency can pick up the protocol and use it,” Torgerson said. “The more nodes you have, the more paths you have to get data back and the easier it is to receive the data.”

Like the Endeavour team’s first walk, not everything in the testing went off without a hitch. “There was an unexpected uplink system failure at one of the deep-space network sites, which interrupted some file transfers, and the DTN protocol took care of retransmitting the missed data automatically so nothing was lost,” Torgerson said.

Securing the Network

The next step for the team at JPL is to add additional applications to the DTN, according to Torgerson. Also on the to-do list for JPL is to test the security and authentication protocols.

Authentication is very important. It is really easy for a ham radio hacker to put his antenna up in his backyard (and listen to information),” Torgerson added. “You have to be able to protect someone from sneaking into your network.”

Each node in the network will have its own authentication protocol and will be able to authenticate a bundle or quantum data similar to packets on the Internet. Each node will have bundled authentication capabilities to be sure that data is from an authorized sender.

“Of course, the vision for us is once we get this in place every spacecraft will have a DTN capability and will be able to form a much richer network and cut out a labor-intensive process,” Torgerson said.

Earth vs Space

Unlike TCP/IP, cocreated by Cerf, DTN keeps an end-to-end connection. If a destination path cannot be found, the data packets are not discarded. Each node instead holds on to the information until it can communicate with another node, and therefore no information is lost when there is no immediate connection.

NASA uses the analogy of basketball players passing the ball to the player closest to the basket to describe DTN’s store-and-forward method.

Google referred all questions about the test to NASA, “since Google didn’t directly collaborate with NASA for this project,” according to Andrew Pederson, a Google spokesperson.

More layoffs in offing; 7,000 jobs on razor edge globally

Friday, November 21st, 2008

Layoffs are turning out to be the flavour of the week, with European auto makers — Peugeot Citroen and Rolls Royce, British pharma giant AstraZeneca and American defence equipment manufacturer Boeing all set to slash nearly 7,000 jobs. The latest announcements to cut 7,000 jobs came within a span of two days, and closely follow the financial services behemoth Citigroup’s decision to cut over 52,000 jobs, reportedly one of the largest layoffs in corporate history.

Peugeot Citroen would be bringing down its head count by 2,700, while Rolls Royce would be slashing 2,000 jobs. Further, AstraZeneca is planning to axe 1,400 positions, and Boeing has said it would cut 800 jobs.

French auto major Peugeot Citroen would be curtailing its workforce by 2,700 employees mainly due to falling volumes in European markets. The volume decline has been triggered by the financial turmoil and industrial crisis.

“The Central Works Council (CWC) of Peugeot Citron Automobiles is called to attend an extraordinary session on December 2, 2008 to examine a Skills and Jobs Redeployment Project, based on voluntary departures. “It concerns a head count reduction at all sites and in all group departments and will concern 2,700 employees in the organisation,” the firm said in a statement today.

Moreover, Rolls Royce which also manufactures aeroplane engines, plans to slash around 1,500 to 2,000 jobs next year. “.

The Group’s current assessment is that in 2009, it will be necessary to implement job reductions across various sectors and functions of around 1,500 to 2,000 on a worldwide basis.

,” the company said in a statement today.

It would include the proposed reduction of 140 jobs at its Assembly and Test facility in Derby, UK, which forms part of the Group’s Civil Aerospace business.

Yahoo’s CEO Jerry Yang to step down

Thursday, November 20th, 2008

Jerry Yang, the chief executive of Yahoo Inc, will step down from his role as soon as the board finds a replacement, the Internet company said on Monday and its shares rose 4 per cent.Under Yang, Yahoo talks for an acquisition by Microsoft Corp broke down, rival Google Inc pulled out of a deal to sell some ads on Yahoo, and the company’s shares have withered as it tried to find its way amid tough competition and a swooning global economy.

“The company is in desperate need of change and this is clearly one way to do it,” said Ross Sandler, an analyst at RBC Capital Markets.

Sandler said he expects the shares to move higher as investors speculate that Microsoft might make another play for the company, with Yang gone. “Jerry was the roadblock for the last deal getting done,” he said.Yahoo shares rose to $11.10 in after-hours trading from their Nasdaq close of $10.63.

The shares are down nearly 65 per cent from the year’s high of $30.25, reached in February, two weeks after Microsoft made its offer public.

Microsoft Corp withdrew its $47.5 billion buyout offer in May.

Yahoo co-founder Yang took on the CEO role in June 2007 in an effort to turn the company around. He will return to his former role as Chief Yahoo once a successor has been found.

“From founding this company to guiding its growth into a trusted global brand that is indispensable to millions of people, I have always sought to do what is best for our franchise,” Yang said in a statement.

Yahoo has hired the executive search firm of Heidrick & Struggles to look for both internal and external candidates.

In an e-mail sent to employees, a copy of which was obtained by Reuters, Yang said it was a joint decision by him and Yahoo’s board.

Yahoo Chairman Roy Bostock is leading the effort to find a replacement, Yang said in the memo. Yang said he will continue to serve as a director.

NASA successfully tests deep space ‘Internet’

Thursday, November 20th, 2008

The US space agency NASA has successfully tested the first deep space communications network modeled on the Internet.Working as part of a NASA-wide team, engineers from NASA’s Jet Propulsion Laboratory in Pasadena, California, used software called Disruption-Tolerant Networking (DTN) to transmit dozens of space images to and from a NASA science spacecraft located about 20 million miles from Earth.

“This is the first step in creating a totally new space communications capability, an interplanetary Internet,” said Adrian Hooke, team leader and manager of space-networking architecture, technology and standards at NASA Headquarters in Washington.

NASA and Vint Cerf, a vice president at Google Inc., in Mountain View, California, partnered 10 years ago to develop this software protocol. The DTN sends information using a method that differs from the normal Internet’s Transmission-Control Protocol/Internet Protocol, or TCP/IP, communication suite, which Cerf co-designed.