Category Archives: Tech News

Business Grads Flocking to Jobs in Tech Sector

Graduates of the nation’s most elite business schools are increasingly choosing careers in the high tech sector instead of the traditional finance jobs which the best business grads used to choose.

The recent financial crisis seems to be to blame for the changing trend, in addition to the long hours Wall Street demands on its workers and the less competitive compensation packages of late.

Harvard Business School saw an increase of 6 percent of its grads taking hi-tech jobs instead of in finance from last year’s 12 percent to this year’s 18 percent. Yale and Cornell Universities are seeing similar statistics.

The numbers of students taking jobs in finance has experienced a concomitant decline this year at Harvard, with 27 percent of their business school grads landing jobs in that sector, as opposed to 35 percent in 2012. At the MIT Sloan School of Management graduates took jobs in finance only 16 percent of the time, down from 27 percent last year.

Money may not be the only factor determining the shift in business school graduate’s career choices. Some analysts say the culture and mission of such companies as Google and LinkedIn are tempting students away from jobs in finance.

Derrick Bolton, assistant dean and director of MBA admission and the interim director of career management at Stanford’s business school says that students are asking,

“Where’s the place that I can drive innovation? Where’s the place that I can have the most impact?”

Scare Quotient Rising as Haunted Houses Go High Tech

Hi Tech Makes for a Great Scare
Hi Tech Makes for a Great Scare

In the early 1980s then high school student Ed Terebus and his older brother, unemployed auto worker Jim, decided to try their hands at the scare-trade by opening their first haunted house attraction.

The haunted house was set up in a trailer filled with hired actors in disguises made of egg yolks and oatmeal. A ticket cost $1.50 per person.

The undertaking proved to be quite profitable, and over the years the business became the four-story haunted house known as Erebus in Pontiac, Michigan. During the years 2005 until 2009 the Guinness Book of World Records said this site was the world’s largest haunted house attraction. By 2010 a larger enterprise surpassed Erebus.

Scaring visitors in this particular manner is a growing business, according to the industry’s trade association, America’s Haunts. They say there are about 1200 large-scale, for-profit haunted attractions in the US, and an additional 3000 haunted houses run by charities and open for business only 1-2 days each year. The commercial endeavors raise between $300 million and $500 million in revenue each year.

Much of the interest and draw of these attractions can be attributed to the advent of technology to make the effects scarier and more realistic.

“Haunted houses are trying to create these immersive environments, and technology often does that,” said Brett Bertolino. Bertolino is the director of operations at Eastern State Penitentiary, a former Philadelphia prison which is transformed once a year into a giant haunted house.

Erebus in Michigan creates its horror with tools like animatronic mutant gorillas and a moving wall that forces guests into what looks like a hole with no bottom. But what is scary to the Terebus brothers is not just the props, but the kind of staff they need to keep the place going.

“I have an IT guy here full time now,” Ed Terebus said. “That’s the scary part.”
To keep things real designers try to make the monsters they use less mechanically predictable by using air-powered devices in tangent with computerized sensors.

“They aren’t on timers where something is going ka-junk, then 30 seconds later, ka-junk,” says Billy Messina, a co-owner of Netherworld, an Atlanta haunted house known for its innovative use of silicone masks on actors to create extremely realistic monsters.

“With the sensors, you can time it so it’s not always the person at the front of a group that’s getting scared,” he said.

As production costs rise and competition between these attractions intensifies, it is no surprise that ticket prices are heading north. Today the average entrance fee is $15, but tickets can cost a cool $65 at some attractions, says America’s Haunts.

High-End Hacker Operation Revealed in China

Symantec Corporation, a company that provides computer security solutions to companies and consumers, issued a 28-page report on Tuesday saying they had discovered a group of highly sophisticated hackers based in China.

These hackers, who hire out their cyber espionage services, have been dubbed “Hidden Lynx” by the US-based computer security company, and are one of the most technically advanced of dozens of such groups operating out of China.

Symantec however did not accuse the government of China of having any connection to these illegal groups, as some other computer security companies have done. They do believe, however, the Hidden Lynx is a “professional organization” employing about 50 to 100 people with a wide base of skill sets which are necessary to pass through networks and steal information such as valuable corporate secrets.

Symantec said that its researchers believed that Hidden Lynx could have been involved in the famous Operation Aurora attacks in 2009. Operation Aurora is the most well-known of cyber espionage attacks so far revealed against US-based companies.

Operation Aurora involved dozens of companies, including such giants as Google and Adobe Systems. In 2010 Google revealed the attacks in which hackers attempted to read Gmail correspondences from human rights groups and activists. They also tried to get into and change source code at targeted companies.

The report explained that Hidden Lynx is a “highly efficient team” which can run several operations simultaneously. They target specific organizations and companies across a wide spectrum of industries. This description suggests that they are often hired by third party clients who are looking for certain pieces of information.

hackingThe most popular industry targeted by these hackers is the financial sector, making up about a fourth of all victims since November 2011. Symantec did not identify specific targets but they did say that they included companies that had information on pending merger and acquisition activity. Information like this could be quite useful to Hidden Lynx clients when negotiating takeovers or trading shares.

Apple Facing Off with Justice Department Over Price Fixing of eBooks

Conspiring to Raise Prices? Lawsuit Opens Today
Conspiring to Raise Prices? Lawsuit Opens Today

Today Apple Inc is going to trial over accusations being made by state and federal authorities that they conspired with book publishers to increase the cost of eBooks to consumers.

The US Justice Department is taking the famously popular producer of iPads and iPhones to court in a case that observers say will scrutinize how Internet businesses interact with their suppliers of content.

“This case will effectively set the rules for Internet commerce,” said David Balto, a former policy director for the U.S. Federal Trade Commission.

The lawsuit was first filed against Apple along with five of the country’s six largest book publishers back in April, 2012. The suit alleges that they conspired to raise eBook prices in order to halt Amazon’s grip on book pricing.

Apple is on its own for the trial since all five publishers settled out of court by agreeing to halt their prohibitions on wholesale discounts in addition to paying together $164 million in damages for the benefit of consumers. The five publishers are: Pearson Plc’s Penguin Group, News Corp’s HarperCollins Publishers Inc, CBS Corp’s Simon & Schuster Inc, Hachette Book Group Inc and Macmillan.

The Justice Department is not pursuing monetary damages from Apple, but rather wants Apple to be forced to stop similar practices in the future. Apple is worried that if they are found guilty as charged they will then face separate trials by state attorneys general in which they will indeed by liable for monetary damages through class action lawsuits.
Apple’s chances of coming through the trial unscathed could be small, based on a comment made by the presiding judge at the last hearing before the trial.

“I believe that the government will be able to show at trial direct evidence that Apple knowingly participated in and facilitated a conspiracy to raise prices of e-books,” said U.S. District Judge Denise Cote on May 23. The judge will hear the case without a jury.
With the judge’s opinion before the trial apparently against Apple, why then isn’t the giant computer company settling out of court?

Chief Executive Tim Cook said in an interview with All Things Digital that Apple was “not going to sign something that says we did something we didn’t do.”

Intel Acquires ST-Ericcson’s Global Navigation Satellite System

Intel confirmed that it was the unnamed buyer of ST-Ericsson’s global navigation satellite system business.

ST-Ericcson announced last week that a “leading semiconductor company” had acquired their mobile connectivity GNSS unit. The sale includes personal receivers which interact with GPS technology and GLONASS. GLONASS is a satellite navigation system which is operated by the Russian Aerospace Defense Forces and is radio-based.

Nick Jacobs, spokesman for Intel Asia, said that the approximately 130 employees from ST-Ericcson, including the GNSS engineering team and their leadership, will be integrated into Intel’s Communications Group.

“The deal extends Intel’s investments in positioning technology with a team of industry veterans that has a successful track record of developing and commercializing GPS silicon spanning more than 20 years and 11 generations of GPS and GNSS silicon,” Jacobs said.

ST-Ericcson is a joint venture between Ericcson and STMicroelectronics.