November 20, 2020

Ex-Wells Fargo CEO John Stumpf misled investors in accounts scam: SEC

first_imgJohn Stumpf, chief executive officer of Wells Fargo & Co., waits to begin a House Financial Services Committee hearing in Washington, D.C., U.S., on Thursday, Sept. 29, 2016.Andrew Harrer | Bloomberg | Getty Images Wells Fargo was later found to have inflated that metric by putting millions of customers into products without their consent, a scandal that cost Stumpf his job in 2016 and even that of his successor Tim Sloan. Current CEO Charlie Scharf took over a year ago and has been tasked with overhauling the fourth biggest U.S. bank and satisfying regulators’ demands for better controls.“If executives speak about a key performance metric to promote their business, they must do so fully and accurately,” said Stephanie Avakian, director of the SEC’s Division of Enforcement.The SEC’s complaint, filed in California, charges Tolstedt with fraud and seeks penalties and to ban her from being an officer or director of a public company.- Advertisement – Ex-Wells Fargo CEO John Stumpf and former deputy Carrie Tolstedt were charged by the Securities and Exchange Commission with misleading investors about the bank’s success in selling multiple products to customers.Stumpf agreed to pay a $2.5 million civil penalty to resolve the matter, allowing him to avoid admitting or denying the charges, the SEC said Friday.The two executives had certified in 2015 and 2016 investor disclosures that touted the firm’s supposedly robust “cross-sell” metric, despite knowing it was misleading, the SEC said in a statement. The metric is an industry term for how many products a single customer has.- Advertisement – According to the SEC’s complaint, Tolstedt publicly endorsed the firm’s vaunted cross-sell metric from 2014 through 2016, despite the fact that it was “inflated by accounts and services that were unused, unneeded, or unauthorized.”In an e-mailed statement, Tolstedt’s lawyer Enu Mainigi called his client “an honest and conscientious executive.”“It is unfair and unfounded for the SEC to point the finger at Ms. Tolstedt when her statements were not only true but also thoroughly vetted by others as part of Wells Fargo’s policies, procedures and systems of controls,” Mainigi said. “Ms. Tolstedt acted appropriately, transparently and in good faith at all times.  We look forward to setting the record straight and clearing her name.”Earlier this year, Wells Fargo paid $3 billion to settle several U.S. probes into its operations, including a $500 million deal with the SEC. The regulator said it will distribute money collected from Stumpf and the bank to investors.center_img – Advertisement – – Advertisement –last_img read more

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Annabell has the Fuller family’s winning habit

first_img England Golf squad player Annabell Fuller is keeping the family flag flying with a string of wins in the USA.The 13-year-old from Roehampton in Surrey is following in the footsteps of her older sister, Sammy – an England international – who has been winning in the USA since she was nine.Annabell, a member of England Golf’s U16 regional South squad, has just scored her latest success with a 10-shot win in the 12-13 year-old girls’ championship in the Junior Honda Classic.She had a 36-hole score of two-under par on the Fazio course at the PGA National in Florida and, says dad, Ashley: “She played some great golf.”  Annabell was one over par in the first round and then stormed her way to the turn in four-under in the second round. She had a couple of bogeys on the way in but birdied the 15th.Earlier she won her age group title in the US Kids Holiday Classic by two shots, on the same course. Before that, she tied for the win in the Doral-Publix Junior Classic, but lost a title play-off with Mexico’s Cory Lopez. The two girls were eight shots clear of the third-placed player.In addition, Annabell was third in the 13-14 age group at the Florida Junior International Championship, where her sister, Sammy, won the 15-17 title. It was the 16-year-old’s record seventh win in this championship. Click here for the full story.Now both girls will tee up in this week’s Harder Hall women’s invitational at Sebring, on Florida’s Orange Blossom Tour. Among the other English players in the field is international Inci Mehmet. Charley Hull won this event in 2012. 5 Jan 2016 Annabell has the Fuller family’s winning habit last_img read more

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Maguire, Chalobah called up for England World Cup qualifiers

first_imgSouthgate had asked Rooney to join the squad, but the Everton striker, who is England’s all-time leading scorer, on Wednesday announced he has decided to call time on his international career at the age of 31.Southgate is relishing the chance to see more of Maguire as injury prevented him being called up for England’s World Cup qualifying draw against Scotland and friendly defeat by France at the end of last season.Maguire is in his first season with Leicester after leaving Hull and Southgate said: “I thought his performances for Hull were very good. He’s a defender that’s very comfortable with the ball and that’s the profile of international football.“I think he’s already adjusted really well at Leicester to a new club. He plays with great composure and can defend the ball in the box.“So I think it’s a really good opportunity for us to have a look at him.”Chalobah was allowed to leave Chelsea in the close-season after struggling to break into Antonio Conte’s side, but Southgate has been impressed by his performances for Watford and England’s Under-21s.“Nathaniel has started the season extremely well with Watford. He’s tactically an intelligent player and we know what he can bring,” he said.Arsenal forward Danny Welbeck returns to the squad having not appeared since a win over Germany in March 2016, but Liverpool midfielder Adam Lallana misses out due to injury.Southgate is optimistic about the future after England won the Under-20 World Cup and Under-19 European titles, while other age group teams reached the European Under-21 and Under-17 Championship semi-finals.“You can see by the squad we’ve named, some younger players coming in, who we’ve been looking at for a while and we want to see that. We have to have an eye on developing the future,” he added.“I did see the value of having some senior players around that. The likes of Jermain Defoe for example, who can help nurture some younger players as well as play a part – but equally we have to look forward.”Squad:Goalkeepers: Joe Hart (West Ham), Jack Butland (Stoke), Jordan Pickford (Everton), Tom Heaton (Burnley)Defenders: Ryan Bertrand (Southampton), Aaron Cresswell (West Ham), Gary Cahill (Chelsea), Phil Jones (Man Utd), Harry Maguire (Leicester), John Stones (Man City), Michael Keane (Everton), Chris Smalling (Man Utd), Kyle Walker (Man City), Kieran Trippier (Tottenham)Midfielders: Eric Dier (Tottenham), Nathaniel Chalobah (Watford), Jake Livermore (West Brom), Jordan Henderson (Liverpool), Raheem Sterling (Man City), Alex Oxlade-Chamberlain (Arsenal), Dele Alli (Tottenham), Jesse Lingard (Man Utd)Forwards: Marcus Rashford (Man Utd), Danny Welbeck (Arsenal), Harry Kane (Tottenham), Jamie Vardy (Leicester), Daniel Sturridge (Liverpool), Jermaine Defoe (Bournemouth)0Shares0000(Visited 1 times, 1 visits today) 0Shares0000Nathaniel Chalobah (right) in action during England’s Under21 match against Italy in 2015 © AFP / Joe KlamarLondon, United Kingdom, Aug 24 – England manager Gareth Southgate has handed first call-ups to uncapped duo Harry Maguire and Nathaniel Chalobah for next month’s World Cup qualifiers against Malta and Slovakia.In the first England squad since Wayne Rooney’s international retirement, Southgate named Leicester defender Maguire and Watford midfielder Chalobah in a 28-man group to face Malta and Slovakia in World Cup qualifiers on September 1 and 4 respectively.last_img read more

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Why Blood Clots Are Stretchy

first_imgA team of biophysicists at University of Illinois ran a computation for six months to find out why blood clots are stretchy.  The primary protein in the clot, fibrinogen, can stretch two to three times its resting size.  By studying the force on every atom in the protein, Science Daily said, they produced a force curve that matches the force measured on actual fibrinogen.    Understanding clotting is important, because “Blood clots can save lives, staunching blood loss after injury, but they can also kill,” the article began.  “Let loose in the bloodstream, a clot can cause a heart attack, stroke or pulmonary embolism.”  It is important for clots to be elastic because “they have a mechanical function to withstand blood pressure.”Tots learn from their mommies that their scratches will heal, so they don’t need to worry about being scarred for life.  We grew up accepting that as a given.  Imagine, though, having every scratch or cut from our youth a permanent disfigurement or point of blood leakage.  We would be covered head to toe in bandages as adults.  The life of hemophiliacs illustrates the point: when the blood clotting process breaks down, even a small cut is life-threatening.    Imagine, furthermore, that clots were as hard as bone.  You would have to sit quietly for weeks till the wound was entirely healed, or else risk having changes in blood pressure rip it away from the surrounding tissue.  Instead, fibrinogen is constructed with coiled coils of amino acids to give it both strength and flexibility.  The network of fibers and proteins that form at a wound site involves multiple rounds of signaling, aggregating ingredients in the right order, and applying patches that won’t break off and cause a heart attack or stroke.    Michael Behe argued in his classic book Darwin’s Black Box that the blood clotting cascade is irreducibly complex.  His argument didn’t take much convincing.  All he had to do was show a flowchart of the 25 or so components that interoperate with feedback and feed-forward procedures to ensure that the flow of blood is stopped quickly and safely.  If any one of these ingredients is missing, the system breaks.  Any question why this article here did not mention evolution?(Visited 45 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

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VW SA wins global call centre award

first_img14 July 2008Volkswagen South Africa’s customer interaction centre (CIC) claimed first place at the 2008 World Contact Centre Awards, held recently in London, in the category “Best Outbound Campaign” in Europe, Africa and the Middle East.In a statement last week, Volkswagen SA said it had fended off competition from the Mellon Group (from Greece), Barclays Bank (Portugal), Softline Pastel (also from South Africa) and the National Bank of Greece (from Greece).The centre qualified for the world award after wining national honours at last year’s Business Process Enablement South Africa’s (BPeSA) annual contact centre awards.BPeSA is a national coordinating body representing the interests of the business process outsourcing and offshoring sector in South Africa, with focus on growing the local industry.“The Volkswagen SA CIC has managed to scoop people awards on a regional level in previous years, as well as this year, but has never had the honour of winning on an international level,” enthused Volkswagen SA CIC manager Marius Swanepoel.“We were confident that our entry met all the criteria required for the local and national awards held by the BPeSA and therefore had the potential to compete internationally. In addition, the entry provided us with the opportunity to benchmark our business process on an international level.”While a call centre is predominantly an inbound environment with customers calling in with queries, an outbound campaign involves a call centre contacting customers, in this case, with Volkswagen’s “Welcome Calls”.According to the company, the aim of the call was to welcome the customer to the brand, congratulate them on their purchase, to record their data like telephone numbers, addresses and e-mail addresses, and to gain additional info on their interests and hobbies which could be used in future campaigns.“These calls play a major part in data purification and also contribute to customer retention,” the statement said.Post-sale quality differentiatorVolkswagen SA said it was essential that their entry displayed competence in various dimensions starting with its strategic and operational objectives, the design and integration of the process, the required investment and the deployment of the campaign.Swanepoel pointed said that in the automotive industry, the only differentiator post-sale was the quality of the company’s service.“Your products can be leading-edge, well priced, and have all the additional value-added elements attached to it, but if the customer relationship and after-sales service do not exceed the customer’s expectations, you will not retain that customer for life,” he said.“Our call centre agents are a vital link in this value chain, a large part of the customer’s perception regarding the quality of our service is determined by these very agents.”Significant recognitionSwanepoel said that the award confirmed that the Volkswagen SA contact centre had a platform for future growth with regard to campaign designs, which would be designed to meet both internal and external requirements, while also proving the value of in-house contact centre operations.He explained that businesses were regularly confronted with whether or not to outsource their contact centre operations.“The value proposition of outsourced call centres is always based on at least two pillars – customer focus and cost competitiveness,” Swanepoel said. “This cost competitive in-house proposition is based on building the brand and long lasting customer relations delivered by a passionate team – a winning recipe according to me.”Over 300 companies from Europe, the Middle East and Africa participated in the awards. The winners qualify for the World Finals, to be held in the United States in November this year, where they will compete with companies from other regions including North America and Asia.“This award is significant recognition, not only for Volkswagen SA, but for our employees for work well done – vital to the sustained success of any business.”SAinfo reporter Would you like to use this article in your publicationor on your website?See: Using SAinfo materiallast_img read more

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Cinematography Tip: Use Fog To Add Depth to Your Shot

first_imgA little haze goes a long way. Fire up the fog machine to add dimension and depth to your shots!Top image from PNTAThere’s a good reason why we tend to love images with lots of depth, and it has a lot to do with the way we see the world. We see and experience the world in 3D space, and when we watch films and enjoy great cinematography we want the aesthetic of the 2D medium to feel as three dimensional as humanly possible. This is also why great cinematographers often talk about how their favorite lenses have a 3D feel to them. They’re not referring to literal 3D filmmaking (which is a whole other discussion), but rather the optics of the lens.The DSLR revolution has allowed filmmakers of all kinds to use depth of field to easily create depth in almost any shot quite easily. However, DOF is definitely not the only way to create depth in your image and it certainly isn’t an option you can always rely on. For example, if you’re  working in a cramped space and aren’t able to shoot on a long lens, it simply may not be possible to achieve the depth you need based on your optics alone.Arguably one of the best ways you can achieve depth (outside of your camera/lens choice) is to use a hazer or fog machine. The slightest bit of haze in a room can add a tremendous amount of depth to your scene as it will create a large variance in the aesthetic between the foreground and background.Image from ShutterstockOn the same note, you definitely don’t want to go overboard with the fog because it can become cheesy very quickly. In fact for this technique to work well, you shouldn’t really see it at all – you just want to ‘feel’ it in the image. So the next time you’re stuck using a small sensor camera, or you’re shooting in a tight space and just can’t get the depth you need, try adding a bit of haze. You’ll be surprised to see just how effective it can be.I’ll leave you with a couple of videos from the gang over at Film Riot that cover the ins and outs of filming with fog. The first video just covers the basics and the “whys” of working with fog. The second video discusses the possibilities of using fog in a more “genre film” setting. Enjoy!Cinematography with Fog!Get a Sci-Fi Look with Dry Ice & Fog!And be sure to check out these PremiumBeat links to learn a little bit more about filmmaking and cinematography!Awesome Cinematography: Achieving a Jib Shot with a SliderThe Art of Perspective and Symmetry in CinematographySimple Framing Tips to Dramatically Improve Your CinematographyGot any other cinematography tips to share? Let’s hear them in the comments below!last_img read more

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Why Dual Native ISO Should Be the New Industry Standard

first_imgWhat does “Dual Native ISO” mean, what does it do for your shots, and why would its acceptance in the film and video industries matter?Every few years, we see a new craze in the camera world. 24p, HD, Raw, 4K, and beyond — to name just a few from the last decade. I normally try to reserve judgement until second or third generations of new tech, but it seems there is a craze this year that I can’t help but get excited about.Dual native ISO. Rather than just an iterative change to existing features, dual native is a potential paradigm shift.So what’s it all about?Sensors 101All digital camera sensors work in pretty similar ways. The sensor holds millions of photosites known as pixels. Attached to each of these pixels is a circuit, which carries its information to the “analogue to digital converter.” In each of these circuits is what is known as the “Native Capacitor,” which is tuned to a set voltage that indicates its light sensitivity or ISO rating.Let’s say our imaginary camera is rated for 400 ISO. This gives our sensor, and thereby the camera at large, the same native ISO rating of 400.It is common knowledge among working professionals that it is always ideal to shoot at the native rating of the camera whenever possible. The reason why is because at native rating, the image is at its highest “signal-to-noise ratio.” This means that the final image will be as clean and noise-free as possible. But as anyone who has touched a camera before will tell you, lighting changes.Image via gnepphoto.In many cases, changing the f-stop or shutter speed is neither preferable or possible. Adjusting the ISO is the only other way to affect exposure. It’s pretty common to hear “gaining up” or “down” to mean adjusting ISO up or down (in some circles).When the user lowers the ISO from the camera’s native rating, the voltage to each photosite decreases; when user raises the ISO, more electricity hits each pixel. This is why noise is so apparent when pushing ISO to its upper extremes in camera — more electricity to each pixel creates a lot of excitable pixels. Slightly less obvious is the fact that reducing the ISO below native means the sensor is underperforming.Gaining up or down is usually a fix when the lighting is unchangeable for logistical reasons — and the best idea is typically to add or remove as little as possible.But, there’s a new class in sensor school that shakes up the rules a good bit.Dual Native ISOImage via Panasonic.As the name suggests, cameras with dual native have two native ISOs. Where normal sensors have a circuit for each pixel, sensors in cameras with dual native have two.Let’s say our imaginary camera now has a second ISO rating of 3200. As we gain up from 400 ISO, we see an expected increase in image noise. A strange thing happens once we pass 3200, however — the noise disappears. At 3200 ISO, the second circuit’s native capacitor takes over, resetting the noise in the image (or the “noise floor”).In the images below, you can see the difference in noise between just 4000 and 5000 ISO in a camera with dual native ISO. This showcase was put on by the Digital Cinema Society in 2015 to showcase the Varicam 35’s first-in-industry adoption of dual native ISO. In the Varicam 35, the second circuit takes over at 5000 ISO.Image via Digital Cinema Society.Image via Digital Cinema Society.As you can see, even though 5000 ISO is only a quarter of a stop brighter than 4000, the dual native sensor makes the image at 5000 orders of magnitude more usable.In our imaginary camera, this means that at 3200 ISO, we have the same noise profile as at 400, despite the fact that the image is now four full stops brighter. This point is where the “gain curve” resets with dual native cameras.Resetting the gain curve means higher ISO shooting with image quality unmatched by anything else on the market. From 3200 to 6400 ISO, the change in noise is the same as from 400 to 800 — resetting the gain curve continues to yield improvements to the top end of the ISO spectrum.Yes, that means at 25,600 ISO the noise in the image is the same as 3200 ISO on an identical camera without dual native.Dual native represents a shift in thought by camera manufacturers that I hope to see continue in the coming years. Panasonic, for example, could have announced the EVA-1 with the same feature set minus dual native and have still received a similar positive response. Instead, they and others chose to implement a feature that vastly opens up possibilities for filmmakers by challenging the notions of the parts of the cameras they produce.I think we should be looking to camera manufacturers to start expanding all possibilities of the camera — from sensor to battery mount.Cover image via Alex Yeung.Looking for more cinematography tips and tricks? Check these out.Nikon Releases Their First Full-Frame Mirrorless Camera to Take on SonyWhat Else Can You Do with Your 360° and VR Video Footage?Production Tips for Mixing Digital Camcorder and DSLR Footage read more

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Declassify Blue Star papers: SAD

first_imgThe Shiromani Akali Dal on Tuesday urged Union Home Minister Rajnath Singh to declassify all papers linked to Operation Blue Star to expose the ‘role of the Congress’ before the people.Alleged conspiracyThe SAD delegation, led by Union Food Processing Minister Harsimrat Kaur Badal, said that people were still unaware of the alleged conspiracy under which the Army had been ordered to storm into the holiest of Sikh shrines – Sachkhand Sri Harmandir Sahib — in 1984.Ms. Badal said the delegation also raised the point that a UK court had recently ordered the government to declassify all papers related to Britain’s involvement in Operation Blue Star. The Indian government must now take necessary steps to secure these papers from its counterpart in Britain, she said.“Also, we asked Mr. Singh to intervene and address the grievances of the Sikh community in Shillong. Sikhs in Shillong have been subjected to brutal attacks and are being coerced to move out of areas they had inhabited decades ago.,” she added.last_img read more

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Winnipeg monument unveiled for missing and murdered Aboriginal Women

first_imgAPTN National News A monument was unveiled Tuesday honouring Aboriginal women who have been murdered or gone missing.It’s location in Winnipeg has a significant meaning to First Nation, Metis and Inuit people.APTN’s Ntawnis Piapot caught up with one family who has been struggling to find out what happened to their family member.last_img

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