Google delivers 3Q letdown early, stock plummets

FILE - In this Wednesday, Oct. 17, 2012, file photo, people attend a workshop, "New York Get Your Business Online," at Google offices in New York. Google Inc.'s stock plunged suddenly on Thursday afternoon after a contractor prematurely released the search company's third-quarter earnings report. (AP Photo/Mark Lennihan, File)

FILE - In this Wednesday, Oct. 17, 2012, file photo, people attend a workshop, "New York Get Your Business Online," at Google offices in New York. Google Inc.'s stock plunged suddenly on Thursday afternoon after a contractor prematurely released the search company's third-quarter earnings report. (AP Photo/Mark Lennihan, File)

FILE - In this Monday, Sept 17, 2012, file photo an unidentified man's shadow reflects on a commercial bus with an advertisement for Google Mail, in Lagos, Nigeria. Google Inc.'s stock plunged suddenly on Thursday Oct. 18, 2012, after a contractor prematurely released the search company's third-quarter earnings report. (AP Photo/Sunday Alamba)

SAN FRANCISCO (AP) ? As far as unpleasant surprises go, Google hit Wall Street with a double whammy Thursday.

The Internet search leader that prides itself on organizing the world's information lost control of its own data when a contractor released its third-quarter earnings report more than three hours before the numbers were supposed to come out.

As if that wasn't jarring enough, the results alarmed investors because the company's earnings and revenue fell well below analyst projections. The disappointment triggered an 8 percent drop in Google's stock price that erased about $20 billion in shareholder wealth.

"This is a monumental failure of epic proportions," said Michael Robinson, an executive vice president for the Levick Strategic Communications, which specializes in financial crisis management. "This was bad news compounded by bad process. It came out in the worst way possible."

Google Inc. blamed printer R.R. Donnelley & Sons Co. for filing the company's quarterly statement with the Securities and Exchange Commission more than three hours ahead of schedule.

"We are fully engaged in an investigation to determine how this event took place and are pursuing our first obligation, which is to serve our valued customer," R.R. Donnelley said in a statement.

The embarrassing mix-up prompted Google CEO Larry Page to preface his review of the quarter with an apology during a conference call with analysts.

"I am sorry for the scramble earlier today," Page said, still sounding hoarse from a mysterious throat ailment. The problem left Page unable to speak during the summer, causing him to skip Google's second-quarter earnings call three months ago.

Page went on to paint a bright picture, not only of the most recent quarter, but for the next few years. "Every day, I wake up and I am delighted about our opportunities to keep growing," he said.

The pep talk didn't immediately resonate with investors.

Google's stock initially plunged more than 9 percent after the early release of the results. Trading was then suspended to allow more time for the information to be digested. After a nearly three-hour break, investors decided the results weren't quite as bad as they initially appeared, and the shares recovered slightly.

Even so, the stock wound up dropping $60.49, or 8 percent, to close at $695.

The sell-off reflects a reversal of the optimistic sentiment that had propelled Google's stock to an all-time high earlier this month. The stock had surged 27 percent in the three months before Thursday's unsettling developments.

Google earned $2.18 billion, or $6.53 per share, during the three months ending in September. That compared with net income of $2.73 billion, or $8.33 per share, last year.

The earnings would have been $9.03 per share, if not for Google's accounting costs for employee stock compensation and the Motorola charges. Analysts polled by FactSet were expecting $10.63 per share, on average.

Revenue climbed 45 percent from last year to $14.1 billion. Excluding compensation for websites that generate traffic for Google's ads, revenue was $11.33 billion. Analysts were expecting $11.86 billion

Most of the trouble appeared to be concentrated in Motorola Mobility, a troubled cellphone maker that Google bought for $12.4 billion in May. Analysts have been fretting that Motorola Mobility would turn into a financial albatross, and some of those fears appeared to be realized in the latest quarter spanning from July through September.

The device maker suffered an operating loss of $527 million, more than tripling from the same time last year when it was still an independent company.

Google is trying to improve Motorola Mobility's performance by laying off about 20 percent of its workforce ? about 4,000 employees ? and closing one-third of its 90 plants and office. Those cost-cutting measures resulted in $349 million in charges during the quarter. But it still could take a few years for Google to turn around Motorola Mobility, Chief Financial Officer Patrick Pichette said on the conference call.

The stronger dollar also hurt Google, just as it has many other U.S. companies that do a lot of business in other countries. That's because overseas sales are now translating into fewer dollars than a year ago, resulting in less revenue. Excluding Motorola Mobility, Google said its revenue for the latest quarter would have been $557 million, or 5 percent higher, if currencies had remained at the same levels as a year ago.

But there were also some worrisome signs in Google's main business of selling online advertising.

Google's ad revenue rose 16 percent from the same time last year, the slowest pace in three years. The company's ad revenue had climbed by at least 21 percent in each of the previous 10 quarters.

Advertising accounts for 77 percent of Google's revenue. The rest comes from Motorola Mobility and other products, such as Google's recently released Nexus 7 tablet computer.

As has been the case for the past year, the average prices companies pay Google for ads appearing alongside search results also fell. The year-over-year decline for advertiser's "cost-per-click" on Google's ads declined 15 percent from the same time last year.

The decelerating growth in ad revenue is likely being driven by the growing use of smartphones and tablet computers to access the Internet.

The ads are more difficult to see on smartphones, in particular, so marketers aren't willing to pay as much for those commercial messages as they do for ads that are seen by people on personal computers. And people relying on mobile devices tend to use specially designed applications that so far haven't been set up to show as many ads as can be seen in Web browsers. People using mobile apps also have less reason to conduct searches on Google, depriving the company of opportunities to show ads.

"I am not at all worried about this because I think we are better positioned than most companies," Page assured analysts.

Google is reaping more revenue from the rapidly growing mobile market, largely because of its Android software than now powers more than 500 million smartphones and tablet computers. The company gives away Android to device makers, but the software is fruitful for Google because it's designed to drive up more traffic to its search engine and other services that show ads.

Page said the mobile market is now generating about $8 billion in annual revenue, including sales of applications, video, books and music in its Play store. Not all of those, sales, though, are recorded in Google's books because most of the money goes to developers, studios and publishers. A year ago, Google said the mobile market was generating about $2.5 billion in annual revenue, but that figure consisted entirely of ads, so it's not an apples-to-apples comparison to the $8 billion.

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Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-10-18-Earns-Google/id-ed0fe6e1e8b040aa96f103aa3fd4f486

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How to Build a Good Relationship With Your Adviser | Inside Investing

The relationship that investors have with their investment advisers can be one of the most important determinants of success. We wanted someone to speak about what forms a healthy adviser/investor relationship, so we invited Kathy O?Connor, CFA, chairman of the board of the New York Society of Security Analysts and president of KJ Capital Management LLC, a registered investment adviser located in New York City.

Source: http://blogs.cfainstitute.org/insideinvesting/2012/10/19/how-to-build-a-good-relationship-with-your-adviser/

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Bangladesh father denies son involved in New York bomb plot

DHAKA (Reuters) - The father of a Bangladeshi man accused of attempting to blow up the New York Federal Reserve Bank denied on Thursday that his son was involved and said he was the victim of a "racist conspiracy."

Quazi Mohammad Rezwanul Ahsan Nafis, 21, was arrested on Wednesday in New York and faces charges of attempting to use a weapon of mass destruction and attempting to provide material support to al Qaeda.

"This is nothing but a conspiracy. There is still a racist conspiracy there," his father, Quazi Mohammad Ahsanullah, told reporters in the Bangladeshi capital Dhaka.

"The intelligence of the USA is playing with a mere boy whom we sent for higher study. The allegation against my son is not true at all. He could not even drive a car. How was he caught with a van?"

Nafis appeared in a Brooklyn court on Wednesday. The criminal complaint against him said he had entered the United States in January and that he had said he was in contact with members of al Qaeda overseas.

The complaint said he had traveled by van with a man to a New York warehouse where Nafis assembled what he thought was a 1,000-pound (450-kg) bomb.

The man he believed to be an accomplice was in fact an undercover agent working for the FBI and the explosives were not in working condition. He was arrested later in a hotel near the bank.

Nafis had been a business student at North South University, a prestigious private institution in Bangladesh, before leaving to study computer science in the United States.

Officials at Southeast Missouri State University said they were assured by the FBI that the school was never threatened by Nafis, who was enrolled in a new cyber security curriculum from January through May.

"We are very dismayed and concerned that a former Southeast student would be involved in an alleged act of terrorism," university President Kenneth Dobbins said on Thursday in a letter to staff and students.

Student Jim Dow, who knew Nafis, told KFVS-TV in Cape Girardeau, Missouri, that Nafis did not speak badly about the United States but harbored some frustration over employment.

"The only thing I ever heard him say he didn't like about the United States is he didn't have enough money and he couldn't get a job, being on a student visa," Dow said.

Dobbins said Nafis requested in the summer to have his school records transferred to a college in Brooklyn.

Nafis' father, a senior vice president of a private bank, said Nafis was the more religious of his two children, but in no way a fanatic. He told reporters he had asked the government for help "so that our son will not fall victim to an arranged story".

"He fell into trap," he said. "We talked with him 24 hours before he was arrested."

A representative for the U.S. Attorney's Office in Brooklyn rejected the suggestion that Nafis was entrapped.

"He directed all the key elements. It was all under his direction," spokesman Bob Nardoza said.

(Reporting By Serajul Quadir; Additional reporting by Jessica Dye in New York and Kevin Murphy in Kansas City; Editing by Ron Popeski, Pravin Char and Mohammad Zargham)

Source: http://news.yahoo.com/bangladesh-father-denies-son-involved-york-bomb-plot-014529900.html

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Does Bruno Mars Think 'Heaven' Sounds Like A Police Song? 'Hell Yeah!'

Ever since Mars premiered 'Locked Out of Heaven,' critics have pointed out its similarities to the Police's hits ... and Bruno's not denying it.
By James Montgomery

Bruno Mars' "Locked Out Of Heaven" cover art
Photo: Warner Music Group

Source: http://www.mtv.com/news/articles/1695752/bruno-mars-locked-out-of-heaven-police.jhtml

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'Hackathon' Events Proliferate for Student Programmers - Wired ...

Many computer-science majors dream of creating start-up companies in California or New York, taking a brilliant idea from their undergraduate days and transforming it into a successful source of profit. This year, ?hackathon? events for student programmers?where teams guzzle caffeine as they code for daylong competitions?are proliferating as technology companies look to find top talent and students seek hands-on experience.

Although the term ?hacking? often refers to breaching private information or disrupting systems, college hacking competitions ask students to do just the opposite. Programmers have a short span of time to quickly build a usable application from scratch, usually around a theme.

Web sites with hackathon listings show an uptick in events this year, particularly in California and New York. The API Evangelist Web site lists about a hundred events around the world in October alone. Kin Lane, the owner of the site, said he had tracked 24 university-based hackathons in 2012 so far. Of these competitions, seven were held in California.

Hackathons hosted at colleges and universities have become much more mainstream, said Brett Cooley, a senior math and computer-science double major at the College of William & Mary. The college held its first hackathon last spring in a small setting with about 10 people and hopes to expand with a larger event this spring.

Several factors drive students? increased interest, Mr. Cooley said. Students have the chance to build something tangible within a short time period and network with other programmers. ?The computer-science program has a fair amount of majors and minors, but no other outlet for community building outside of coursework,? said Mr. Cooley. ?It?s helpful to have extra support for newer coders who enjoy it but don?t know what to do next besides take more classes.?

Hackathons also complement skills learned in traditional computer-science courses, said Momchil Tomov, a junior majoring in computer science at Princeton University who heads the campus entrepreneur club. The club sponsored Princeton?s first hackathon last fall and is gearing up for more events this year, including a ?Hack Week? that involves workshops and guest speakers.

?Universities don?t necessarily provide the right skill set for the workplace,? Mr. Tomov said. ?Even at the top schools, we?re not taught the latest technologies or how to work in a team?companies are looking for that.?

The computer-science curriculum focuses chiefly on understanding algorithms, hardware, and software rather than the ?language du jour? popular in the programming community at the moment, said Chris Wiggins, an associate professor of applied physics and applied mathematics at Columbia University. Mr. Wiggins co-founded a nonprofit organization in 2010 called HackNY with the goal of complementing traditional computer-science education with student hackathons and connecting students with start-ups in New York.

The organization hosts two hackathons per year and drew in between 200 and 400 participants at its September event. HackNY has influenced local universities? burgeoning programming culture?student programmers at Columbia University and other colleges host ?pre-hackathons? in advance of the group?s events.

?Coding events give students an opportunity to engage their sense of technical mastery and social purpose,? Mr. Wiggins said. ?They?re solving problems they like, which engages their autonomy.?

A ?Contagious? Culture

University-organized hackathons have also tapped into college rivalries to pique interest. The Hackers@Berkeley student group began last fall as a way to ?bridge the gap? between computer-science theory and practical programming skills, said Ajay Tripathy, a founder of the group. Hackers@Berkeley grew exponentially over the course of the year and challenged Stanford University to a ?Big Hack? event in April, which will take place again this spring.

Ayush Sood, a junior computer-science major and officer in Stanford?s branch of the? Association for Computing Machinery, described increasing interest in programming and hackathons as a ?chain reaction.? ?The hacker culture is fairly young at Stanford, and it?s very contagious,? he said in an e-mail interview.

More formalized coding competitions hosted by the Association for Computing Machinery have been available for years, but this year a one-unit course at the University of Wisconsin at Madison on preparing for those competitions filled up within two hours, said Dieter van Melkebeek, a computer-science professor there. ?I?ve been coaching ACM competitions for 12 years now?this is a recent phenomenon,? he said.

The association has added more competitions to encourage North American participation as teams from Russia and China dominate the international finals, said Deborah S. Noonan, a computer-science instructor and coach for the programming team at William & Mary.

Technology companies looking for top talent often sponsor the events, furnishing student programmers with Red Bulls to keep them going and offering rewards to the teams that present the best ideas. But companies recruiting at hackathons may face disappointment?many student programmers want to start their own companies instead.

The programming start-up culture holds appeal for many students aiming to become the next Mark Zuckerberg, though an idea generated through a 24-hour programming session is only a first step toward starting a company.

?It?s a good way to dip your toe in this whole culture and see if it?s a right fit for you,? Mr. Tomov said. ?The Ivy League?s mentality is that Wall Street is the main place where people go to work?we want people to think more, and to have a broader view of the opportunities that are out there.?

Source: http://chronicle.com/blogs/wiredcampus/hackathon-events-proliferate-for-student-programmers/40404

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Source: http://www.welcometocoastcity.org/ideas-jj-watt-jersey-that-can-get-the-affiliate-marketing-online-business-off-the-floor.php

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Woman Saves Exotic Pets from Their Owners | The Arkansas Traveler

By Landon Reeves 3 hours ago

On May 14, 1996, the Boone County Sheriff?s Office received several complaints about strange noises and odors emanating from a trailer. The police could smell the scene before they could see it. When they arrived, low, deep growls of lions and higher-pitched, faster snarls of leopards and cougars greeted them. The police didn?t know what animals were making this racket. They were smart enough to keep a safe distance from the trailer and its contents.

Upon investigation, the police discovered a horrifying example of animal cruelty. The evidence suggested animals were neglected for possibly three weeks, according to reports from neighbors and officials.

The police called Tanya Smith, president and a founder of Turpentine Creek Wildlife Refuge, to bail them out of this potentially deadly situation. The refuge provides a permanent home to abandoned, abused and neglected exotic animals with an emphasis on large cats.

The refuge houses a variety of dogs, donkeys, ducks, more than 100 big cats, seven black bears and one monkey named Goober. Most of the animals are from private owners, people who purchase a pet and then discover the responsibilities and costs are too great. Smith estimates that 90 percent of the animals come from private owners and would have been euthanized if not for the refuge.
This refuge prevents the senseless killing of dangerous predatory animals. Ostentatious purchases of exotic pets by eccentric owners have created a need for places like Turpentine Creek. Each rescue has its own story, just as each cat has its own personality. Some animals are rescued from breeding companies, such as Zeus, the vocal Siberian tiger.? Others animals belonged to private owners, like Thor the lion, who is trained for TV and public appearances.

The refuge covers approximately 500 acres; fewer than 90 of these have been developed for natural habitats. Smith is required to have permits from United States Department of Agriculture and Arkansas Game and Fish Commission to conduct her nonprofit business. Turpentine Creek is a nonbreeding facility, which means animals are not bought or sold, according to the refuge website.

Some of the cats are kept in a maze of cages on the walking tour. The thin steel bars are welded in cross patterns and reinforced with thicker frames. The heights are rarely constant, and most of the cages are connected. Any cats with behavioral problems live in solitary confinement, but socially successful cats like Zeus can share cells and travel through multiple cages.

Zeus is one of the refuge?s largest cats. His white color is a result of inbreeding, and his growl reverberates deep within the rib cage of anyone close. The large cat was laid out on the warm concrete stretching in the sun. He is the nearly the same size as the refuge?s grizzly bear, but his cat nap resembled a kittens or normal pet cat. This behavior dwarfed his stature only for the duration of the nap.

?You would be amazed if you knew how much they have in common with normal house cats,? said Ivy Cooper, full-time staff and volunteer coordinator for Turpentine Creek.

When Cooper approached the cage, she chuffed, or made a sound big cats use to communicate in a friendly or peaceful manner. Zeus slowly rose from his resting position and begin to pace while growling at Cooper. His deep voice sounded like the engine of a small plane.

Zeus was rescued from a private breeding facility in Missouri. Cooper was one of the crew that rescued Zeus.

?Seventy-two percent of our population is in natural habitats that are up to a third of an acre in size,? Cooper said. ?The rest are the units you see in the walking tour, our goal is to have all of them in natural habitats. The next to get a large habitat is our only grizzly bear, Bam Bam.?

The refuge offers stimulation, food and a clean place to stay. Some of the rescues may have one of these things but often lacks another, Cooper said. Private owners often lack the time, training or space to house an exotic animal.

Turpentine Creek employs more than 20 interns in biology and zoology, who monitor feed and clean the animals daily.

Help was on the way

?It takes a good team,? Smith said. ?Every day you have 200 eyes looking at you, and all wondering, ?How am I going to get food?? It has been hard, and I didn?t start seeing the light at the end of the tunnel until we got the interns.?

The interns come from all over the world to help and study the animals at the refuge. Some of the students from the UA have developed heating pads to help the animals adjust to the changes in climate. Others have helped to develop crash courses for exotic animal veterinary classes.

Some interns have helped shape legislation to help exotic animals. A former intern of Turpentine Creek helped create the Arkansas code that prohibits personal possession of an exotic animal unless they obtain the proper permit.

?There is nothing like working with tigers and big cats,? said John Chavez, intern. ?We do the husbandry, the food prep, feeding, tours and keeper talks ? you name it, and we do it. The only bad part about it is the anticipation, waiting to see the animals in their larger natural habitats.?

All of the more than 300 interns who have worked the refuge love animals and live on the land while working there. This love drives them to help creatures that would brutally maim or kill them if it ever got the chance. It drives them to go to horrible scenes to help rescue these animals.

The events in Boone County serve as an example of one of these horrible scenes. Eleven large cats were imprisoned and abandoned by their owner, Katherine Gordon Twist. The sounds and smells of the animals? cramped enclosure kept the police at bay until Smith and her team arrived.

Twist had eight large cats in a 20-foot horse trailer. Two others were in small cages, and one, whose name was Spitty Smitty the cougar, was in a 3-foot-tall cargo drum.

This story is repeated often on the tour of the compound. It is an example to Smith and her employees; it is one of their reasons they do what they do.

One cat of the 11 is still with the refuge today. Some died of complications from the conditions in which they were found. Others died of old age on the refuge, in a permanent home that provided a clean and warm place to sleep as well as food.

?I believe that the animals that we save deserve to live free of pain and suffering,? Smith said. ?It is this that keeps me eager to learn and to educate others about our mission.?

Source: http://www.uatrav.com/2012/10/17/woman-saves-exotic-pets-from-their-owners/

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