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Mutual Funds on Ulitzer

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BOSTON, April 11 /PRNewswire/ -- Eagle Investment Systems Corp. today announced that Fort Washington Investment Advisors, Inc. based in Cincinnati has fully deployed Eagle's portfolio management, performance measurement, and information delivery solutions to help manage $25 billion in assets* for fixed income, balanced, and equity strategies. Eagle's professional services team led the implementation project, which was completed under budget in just six months. "Eagle Investment Systems has helped us improve internal automation while providing the functionality to calculate performance according to our specific needs," said Mark Frietch, vice president of Investment Operations for Fort Washington Investment Advisors. "By deploying Eagle's solutions quickly and under budget, we are heading down the right path to meeting our goals. We are very pleased with the process... (more)

Moffat’s & Other Indictments Delayed

CEOs in Technology on Ulitzer Raj Rajaratnam, the billionaire ringleader of the Galleon insider-trading mob, and Danielle Chiesi, the ex-beauty queen who allegedly charmed ex-IBM SVP Robert Moffat and ex-AMD CEO Hector Ruiz into telling her valuable company secrets, were indicted by a federal grand jury Tuesday on 17 counts of securities fraud and conspiracy. They are expected to be arraigned Monday, December 21, and plead not guilty. A lawyer for Roomy Khan, the ex-Galleon, ex-Intel employee who's one of the government's star informants, reportedly told Rajaratnam's lawyer he better listen to the wire taps first. Khan pleaded guilty in October and will be sentenced May 17. Rajaratnam is looking at a possible 145 years in jail, Chiesi is looking at 155. Rajaratnam will also make a bid Monday to get his $100 million bail reduced to $20 million, roughly the amount of ... (more)

XML Authoring in the Financial Services Industry

XML is fast becoming an integral part of information management workflows in the financial services industry, and the trend is moving toward even wider adoption. According to the analyst firm ZapThink: The financial services sector spent more than $195 billion on information technology in 2001, with $985 million invested in XML technologies in 2002. Expenditures on XML technologies in the financial services sector will grow to more than $8.3 billion by 2005. XML-based content management and single-source publishing can reduce the total cost of publishing by up to 75%. In the financial services industry, effective information management can make the difference between success and failure. Individual investors, for example, want fast access to the current value of their mutual funds and other investments. They want to access such information via an expanding range o... (more)

Life after Bankruptcy

Personal Bankruptcy on Ulitzer While filing for bankruptcy one should be aware of the financial difficulties that he would be enduring in the long run. Once bankruptcy is filed it remains on the credit report for the next 10 years and that makes him well aware of the fact that he will loose the ability to receive any type of credit, a mortgage or a bank loan. Sincere help from family friends and colleagues: After filing bankruptcy what is required the most, is full love and support from family, friends and colleagues. Only those friends who can help in times of need and are dependable should be invited with the full assurance of mental support as well. Budget expenses accordingly: Be responsible enough to plan out the expenses accordingly. A budget should be created according to the requirement, and should be followed religiously. A lot of savings is to be done to ... (more)

IBM Hardware Chief, Intel VC Exec Arrested in Insider Trading Scam

IBM senior VP Robert Moffat (pictured), the head of IBM's Systems and Technology Group - in other words the guy who runs all of its hardware as well its microelectronics unit - and Intel Capital's director of strategic investment Rajiv Goel, one of its VC people, were arrested Friday morning on insider trading charges. They were alleged tipsters. The $20 million scam, involving AMD, Intel, IBM, Akamai, Clearwire and Google stock as well as Polycom's and Hilton Hotels', is said to be the biggest ever pulled off by a hedge fund and had the US Attorney, the FBI and the SEC doing a televised press conference on CNBC this afternoon. US Attorney Preet Bharara said it was the first time court-authorized wiretaps were used to uncover insider trading. Authorities also arrested billionaire hedge operator Raj Rajaratnam, the founder of the big $3 billion Galleon Group and mana... (more)

Recent surveys offer a mixed picture between what advisors are selling, what money managers are promoting and what consumers are buying

By D. Bruce Johnston, President, DBJ Associates According to Schwab Institutional’s recently released Independent Advisor Outlook Study, 90% of independent advisors added new clients in the third quarter and intend to take more risk with their client’s assets. These advisors are seeing more opportunities in equities, and are signaling moves away from cash and fixed income. Nearly one-third say they plan to invest more in US small cap and large cap equities over the next six months. Only 25% plan to invest more in fixed income, down from January’s high of 42%, and just 8% plan to hold more cash in client portfolios. The better mood over domestic equities is also accompanied by other positive themes: Market Outlook: Advisors’ six-month outlook for S&P 500 is most optimistic in two years. Economic Outlook: four in 10 RIAs expect current recession to end in less than 1... (more)

Real-World Cloud Computing Applications

Cloud Computing on Ulitzer In this article, we will see some examples of real-world Cloud Computing applications: • Coca-Cola Enterprises uses a Cloud-based system to streamline operations with merchandisers in the field. • Nasdaq uses Amazon’s S3 Cloud Service to deliver historical stock and mutual fund information, rather than add the load to its own database and computing infrastructure. • Animoto, a small start-up which decided to use Amazon's Cloud Services, was able to keep up with soaring demand for its service and scale up from 50 instances to 3,500 instances over a three day period. • Times wanted to place scanned images covering a 60-year period (15 million news stories) online. After being repeatedly turned down by the CIO for the use of six servers, the newspaper moved four terabytes into Amazon’s S3, ran all the software over a weekend on EC2 for $25, and t... (more)

Financial Social Media Marketing

According to AdvisorTweets, Financial Industry Regulatory Authority Inc. (FINRA) says the delay is needed to reconcile comments from their membership. As reported in DBJ Associates, the industry is taking a closer look at social media as sales literature because advisors and investors want to have a hand choosing the communications forms they prefer. "The cost of not communicating to advisors and clients through their preferred vehicles (social media) does not make a lot of long-term business sense." Mr. Johnston said recently. FINRA has no intention of addressing  the social media question directly.  In fact, the term "social media" appears nowhere in both the text of the new rule, nor Regulatory Notice 09-55, the comment notice. The notice invites interested readers to contact FINRA and weigh in on whether readers think social media used for financial marketing pur... (more)

GDS International Talks with Bank of America on Consumer Scam

Cyber crime is relatively new, but has now grown exponentially.  It is an ongoing issue for financial institutions and with the Bank of America  being one of the biggest in the US combat methods must constantly evolve. So they brought in Ron Green from the US secret Service to secure the Banks customer facing business. "if I were to grab a group of a hundred people to try and steal their information, there's a good chance that I'll get a good percentage of Bank of America" Ron Green continues "The line between Forensic Murder investigation and bank crime may be closer than we imagined." Recent surveys show that one of the biggest financial consumer requests is for their service to be available on a mobile platform which is both fast and secure. This is an innovative step in personal finance but the risks are high according to Ron. "Our own infrastructure (Bank of Am... (more)

Time For Cloud-Based Online Google Bank?

Slowly -- and sometimes not so slowly -- the bricks have been giving way to the clicks for the past 15 years. Plenty of formerly unassailable business models have suffered as a result. The tears flowing for these companies, however, have been few outside their own high, stony walls. Users, customers, innovators, seekers -- the majority bottom sections of the social and economic pyramids -- these are the big winners in the many wonderful effects of the Web and Internet. And I for one have the freedom, productivity, choice and empowerment to prove it. Except in one glaring area: banking. We are by no means done on the disruption front. I have had it with the old financial processes, lack of capability, murky institutions, rips-offs, peonage fees/rates -- and especially attitudes. As far as I'm concerned -- as a consumer, family, and business -- I'd ready to fire them al... (more)

FINRA Funds Social Media Program

Financial social media marketing just received a welcome boost from the nation’s largest independent securities industry regulator. The Alliance Library System of East Peoria, Ill. received a grant of  $100,000 from the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the American Library Association (ALA) for social media and other education programs. FINRA steps up The library system will deliver saving and investing information through social media targeting individuals ages 13 to 35, according to Earth Times. The demographically and technologically attuned library system in rural, central Illinois will also provide online and face-to-face investor education programs through six of its public libraries. What next? “This move bodes well for financial marketers,” social media consultant D. Bruce Johnston said recently. “FINRA is sup... (more)