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Creativity Motivation – What is motivation – Corey K Katir
Advertising From http://www.creativitymotivation.com Describes motivation process for creativity with emphasis on intrinsic motivation by Corey K Katir Kodak launches EasyShare Z915
From dpreview.com
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Press Release: London, UK, March 3, 2009 — Eastman Kodak Company (NYSE:EK) today introduced a new addition to its versatile line of digital cameras: the KODAK EASYSHARE Z915, featuring a powerful image stabilised 10X optical zoom lens and Kodak’s innovative Smart Capture feature that consistently delivers high quality images.
The new camera debuted at Kodak’s booth at the 2009 PMA International Convention and Trade Show in Las Vegas (booth F200, South Hall).
The KODAK EASYSHARE Z915 Digital Camera enables avid picture takers to easily capture crisp long-distance shots with a 10X image-stabilised optical zoom lens. The Z915 also offers fast click-to-capture performance and Kodak’s innovative Smart Capture feature, which automatically detects the scene being shot and adjusts camera settings to capture the best image possible. Smart Capture also automatically applies KODAK PERFECT TOUCH processing to enhance highlight and shadow areas.
Lightweight and compact, the Z915 is available in a variety of colours: red, blue, black and gray.
“The new Z915 is a versatile camera that’s ideal for families on the go, making it ideal for consumers who want more zoom but don’t want a bulky camera,” said Matthew Yarrow, Country Business Manager, for the Consumer Digital Imaging Group (CDG) and the Film & Photofinishing Systems Group (FPG), UK and Ireland, Eastman Kodak Company. “With its combination of Smart Capture and high zoom with optical image stabilisation, the Z915 stands out in a fast-growing product category, and delivers great performance to consumers who are looking for new ways to advance their digital photography experience.”
The new KODAK EASYSHARE Z915 Digital Camera offers:
Accessories
Kodak unveils Z980 with 24x zoom
From dpreview.com
Kodak has announced the Z980 mega-zoom digital camera. This 12 MP camera sports a 26mm wide angle lens with 24x zoom, a detachable vertical grip with shutter release and is capable of HD recording. Kodak has also announced the addition of three new models to its EasyShare M series. The M380 features a 10 megapixel sensor, a 2.7″ LCD and 5x optical zoom. The 10MP M340 and the 9MP M320 feature 2.7″ LCDs and 3x optical zoom.
Press Release: London, January 5, 2009 — Eastman Kodak Company (NYSE:EK) today announced new additions to its digital camera line, led by the high-zoom KODAK Z980 Digital Camera, featuring outstanding control and Kodak’s innovative Smart Capture feature that consistently delivers high quality images. Featuring a wealth of power and versatility, the KODAK Z980 Digital Camera offers a 26 mm wide angle, professional quality, 24X image stabilised optical zoom lens, a vertical shutter release and a hot shoe, all at an affordable price. The Z980 enables serious photographers to easily handle both long-distance and wide-angle shots, and boasts Kodak’s innovative Smart Capture feature, which adjusts the camera’s settings to deliver brilliant images automatically. “The Z980 is an ideal camera for photographers looking to do more and get more from their digital camera,” said Matthew Yarrow, Country Business Manager, for the Consumer Digital Imaging Group (CDG) and the Film & Photofinishing Systems Group (FPG), UK and Ireland, Eastman Kodak Company. “The versatile lens, combined with our exclusive Smart Capture feature, lets consumers shoot great pictures in any setting – from daylight to night or from close-ups to landscapes, the camera makes adjustments automatically.” The new KODAK Z980 Digital Camera offers:
Kodak also introduced new models to its M-Series Digital Camera line, led by the KODAK EASYSHARE M380 Digital Camera. A sleek but powerful digital camera for style-savvy consumers, the M380 delivers an innovative feature package led by Kodak’s Smart Capture feature, and also boasts a 10MP sensor, 5x optical zoom, and 2.7” LCD. The M380 will be available in black, red and teal, with pricing and availability TBC
Also new to the KODAK M Series Digital Cameras are:
Kodak introduces advanced CCD sensors
From dpreview.com
Press Release: Cologne, Germany, September 23, 2008 – CCD Image Sensors from Eastman Kodak Company (NYSE:EK) have been selected again to power the most advanced cameras for professional photographers. Showcased at this year’s Photokina trade fair in Cologne, Germany, the new cameras – the LEICA S2, the HASSELBLAD H3DII-50, and the SINAR Hy6-65 – are based on both new and existing KODAK CCD Image Sensors, and further establish Kodak as the leading supplier of the most advanced image sensors used in professional photography. “Kodak has a rich history of supplying image sensors of the highest quality for use in professional photography – where image quality, resolution, and color fidelity are critical to a photographer’s success,” said Michael Miller, manager of Kodak’s CCD Image Sensor Business, part of the company’s Image Sensor Solutions group. “We are excited to see this legacy continue with the launch of a new generation of cameras from the world’s leading manufacturers that will allow photographers to capture images of the highest quality and the finest detail.” The LEICA S2 camera, powered by the new KODAK KAF-37500 Image Sensor, is the third product from Leica to be based on KODAK CCD Image Sensors – a relationship that began first with the LEICA Digital Module-R and was then extended with the LEICA M8 camera. With an imaging area of 45mm x 30mm, the 37.5 million pixel KAF-37500 represents a new optical format for photography, providing an image capture area over 50% larger than traditional 35mm film. The sensor also includes specific design features that optimize its use in the S2 camera, such as the use of microlenses to increase the overall light sensitivity of the device, enabling improved image quality under low light conditions. In addition, an infra-red absorbing optic was incorporated directly into the sensor’s packaging, enabling the development of a thinner camera design by eliminating the need to include this IR-absorbing function as a separate camera component. The new KODAK KAF-50100 Image Sensor was selected by Hasselblad for use in the HASSELBLAD H3DII-50, the top model of Hasselblad’s H3DII family and their fourth-generation medium-format camera. Twice the physical size of the largest 35mm DSLR image sensor, the 50 million pixel KAF-50100 sets a new resolution benchmark for the popular 48mm x 36mm optical format used in medium-format photography, while improving upon the quality and imaging performance available from the previous generation of KODAK sensors. Both the KAI-50100 and the KAF-37500 Image Sensors are based on the new KODAK TRUESENSE 6.0 micron Full Frame CCD Platform, the company’s fourth generation of technology for professional photography. This new platform increases both the resolution and camera performance available for photographers by reducing pixel size and “click-to-capture” time for improved camera response, improving frame rate, lowering power consumption, and improving color fidelity while retaining key performance parameters available from the previous generation of technology. Sinar has selected the 31.6 million pixel KODAK KAF-31600 Image Sensor for use in the SINAR Hy6-65, a new system that brings integrated digital image processing to medium format photography. Leveraging the light sensitivity, wide dynamic range, and outstanding color fidelity available from the KAF-31600 Image Sensor, this camera brings the superb image quality and performance available from the KAF-31600 to a new generation of products available from Sinar. These three new cameras join a family of existing cameras and camera backs that are based on a full portfolio of KODAK CCD Image Sensors targeted to this market. With resolutions ranging from 16 to 50 million pixels, Kodak has supplied the broadest portfolio of high performance CCD products for this market, providing camera manufacturers the flexibility to meet the needs and requirements of their customers while retaining the performance and image quality required in this demanding application.
Kodak fits 50MP into dynamic range
From dpreview.com
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Editorial:
“We were being told two things by our customers,” said Kodak: “The first was the need for more resolution, to give increased levels of detail. The cameras this chip will be used in can support this: they have headroom in terms of what their lenses can resolve. But, at the same time, we were being told: ‘Don’t take anything away that we already have,’ particularly in terms of dynamic range.”
Kodak says the new chip is the first of a new generation of sensors and is the first to utilize a new technology platform. There are three key technologies in the new chip to help improve responsiveness, color accuracy and to handle the output of such a large sensor. One of the most interesting is the chip’s four-channel readout, which has been designed with dynamic range, rather than speed, in mind. “Dynamic range is essentially signal-to-noise ratio, which is just signal divided by noise.” the company said: “Going to a smaller pixel you get less signal so, to retain dynamic range, we need to drop noise.”
“The 39MP chip was a two-channel readout design. This means each row was pulled down into the output register, then read out from either side of the chip to the amplifiers, before the next row could be pulled down. The 50MP is a four channel device – there are two registers, one for the odd pixels, the other for the even ones. Again, half go to the left and half go to the right.
“As you operate the amps faster and faster, you get more noise. This four-channel approach gave us more bandwidth, partly to deal with the extra information created by the extra pixels but also to allow us to run the amplifiers slower. On this chip there are four amplifiers running at 18Mhz, rather than two running at 24Mhz.” Click-to-capture time is kept down by using a new pixel clearing technology Kodak has dubbed ‘Pulse flush.’ “Before you can read the output of a sensor, you have to make sure it’s clear from any electrical noise that could be hanging around. Traditionally you had to read out all of the pixels, drop them down and through the output register. As you increase pixel count, this takes more and more time and also it takes power. “What we’ve got in this design, in addition to the light sensitive area in each pixel, is a drain for anti-blooming draining. This is usually used to carry away excess voltage if the pixel is over-exposed, to stop that voltage over-flowing into neighboring pixels. We use that, in a process called ‘Pulse flushing,’ to drain all the pixels before each shot. This way the initial delay is measured in microseconds, rather than milliseconds.” The other change in the new chip is the use of a new red pigment to increase color accuracy. “One of the things our customers liked about the last chip was the color accuracy but we thought we could do something to make it better. The new pigment shifts the absorption band 15 nm towards the blue, which increases the overlap between the red and green channels.” Increasing the overlap between channels helps the camera more accurately detect colors that fall between the two channels, meaning the new sensor should be better able to interpret yellow and orange tones.
Although Kodak refers to the chip as being the first product based on a new technology platform, it would not be drawn on whether this could include application on a DSLR scale. In addition to medium-format professional photography, the company said the sensor had been generating interest from aerial photography companies.
Press release: ROCHESTER, N.Y., July 8, 2008 – Eastman Kodak Company (NYSE:EK) has achieved another breakthrough in its storied history of imaging technology innovation with the introduction of the world’s first 50 million pixel CCD image sensor for professional photography.
At 50 million pixels, or megapixels, the sensor captures digital images with unprecedented resolution and detail. For instance, with a 50 megapixel camera, in an aerial photo of a field 1.5 miles across, you could detect an object about the size of a small notebook computer (1 foot by 1 foot).
What’s more, the KODAK KAF-50100 Image Sensor features a newly designed pixel that is smaller in size than the pixel used in current products for this professional market. This new pixel also reduces “click-to-capture” time for improved camera response, lowers power consumption for improved battery life, and improves color fidelity without compromising on the benefits to be enjoyed from larger pixel sizes.
“Professional photographers need to capture ever-increasing image detail with higher camera performance, and that to drives us to develop new technologies and products to serve this important market,” said Michael Miller, manager of Kodak’s CCD Image Sensor Business, part of the company’s Image Sensor Solutions group. “Kodak image sensors have been known as the professional imaging standard for years, and today’s announcement reaffirms our dedication to provide industry-leading image sensors that give professional photographers a real competitive advantage.”
The new Kodak sensor is the first to utilize the company’s new KODAK TRUESENSE 6.0 micron Full Frame CCD Technology Platform, which increases both the resolution and camera performance available to photographers. Based on a newly designed 6.0 micron pixel, the platform provides increased data throughput for faster frame rate, a reduced “click to capture” time for improved camera response, lower power consumption for improved battery life, and improved color fidelity, while still retaining key performance parameters available from the larger, 6.8 micron pixel used in current products. With an 8176 x 6132 pixel array, the 50 million pixel sensor provides the highest resolution available in the popular 48 mm x 36 mm optical format used in medium format photography. The KAF-50100 is the latest addition to Kodak’s family of full-frame CCD image sensors for the professional photography market. Engineering grade devices of the KAF-50100 are currently available, with volume production planned for Q4, 2008.
Kodak’s TRUESENSE offers hope for cramped chips
From dpreview.com
Having spoken to Kodak regarding the TRUESENSE CMOS Pixel, we have added a short editorial to further explain the workings of this new sensor technology.
Editorial:
Kodak used PMA to announce a novel sensor technology that could offer cleaner high-ISO images. Although initially aimed at the cell phone camera market the technology is scalable to the digicam and DSLR markets, the company says. Most of the benefits appear to be most relevant at the very small, cell phone camera scale but it does appear to be an interesting new way of doing things.
The sensor differs from conventional sensors in two ways: firstly it uses Kodak’s “High ISO color filter array,” which the company announced in late 2007. In addition, the detector layer of the chip works the opposite way ’round from existing sensors in that it detects the holes left by electrons, rather than the electrons themselves. This is achieved by using a pMOS, rather than nMOS layer to do the detection.
Kodak has reported that this hole-counting technology reduces crosstalk between adjacent pixels by three to four times. This is thought to be because the holes are less mobile than electrons and cannot jump to adjacent pixels (the remaining crosstalk is thought to be due to light spilling between pixels, rather than the holes). Dark current (essentially the background noise generated by the sensor itself) is reduced by more than 30 times – a benefit that comes from the differing chemistry of pMOS-based pixels. Pixel temporal noise, the randomly occurring noise that builds up over the time the sensor is active, is reduced by around 40%.
Kodak’s sensor combines this hole-counting technology with its “High ISO CFA” (Color filter array), that includes clear, luminance-detecting, pixels as well as the red, green and blue-detecting ones used in traditional Bayer-pattern filters. Internal tests suggest this color filter array produces the same signal-noise ratio at sensitivity levels around 1.6-1.7 stops higher than those using Bayer pattern filters. This may not sound much but it means a High ISO CFA chip would produce the same amount of noise at around ISO 1270 as a conventional sensor would be expected to at ISO 400.
Using the pMOS detection layer may boost this figure by between 10 and 15 percent, says Fas Mosleh, Director Worldwide Marketing and Business Development at Kodak, resulting in around a 2-stop improvement overall depending upon the pixel design and size. This means ISO 1600 performance with the amount of noise you’d usually expect to see at ISO 400. However, these are the improvements offered in the tiny 1/4″ and 1/3.2″ sensors used in cell phone cameras. The benefits will not be so pronounced for larger sensors, says Mosleh. It could allow larger sensors to become more pixel-dense without a loss of quality, though.
A CMOS chip with a pMOS detector layer is fabricated using the same processes as existing CMOS sensors, so would not require any fundamental re-tooling to put into large-scale production.
Press Release:
ROCHESTER, N.Y., Feb. 4 – Eastman Kodak Company (NYSE:EK) is enabling a new level of performance in consumer imaging devices by redesigning the basic building blocks used to collect light and is incorporating that technology into a brand-new sensor.
The company has combined its recently announced Color Filter Pattern technology with a new CMOS pixel to create the KODAK KAC-05020 Image Sensor, the world’s first 1.4 micron, 5 megapixel device. Designed for mass-consumer camera applications such as mobile phones, Kodak’s new sensor enables a new level of resolution in small optical formats, using significantly smaller pixels. But unlike other small-pixel sensors which can produce poor images, especially under low light conditions, the 1.4 micron pixel used in the KAC-05020 Image Sensor changes this convention, providing image quality that can equal or surpass what is available from current devices using larger, 1.75 micron pixel CMOS designs.
“Camera phones and other small-pixel consumer imaging devices often suffer from poor performance, especially under low light conditions. To manufacture sensors that utilize these very small pixels – only two to three times the wavelength of visible light – we needed to challenge everything we knew about pixel and sensor design,” said Chris McNiffe, General Manager of Kodak’s Image Sensor Solutions business. “By completely rethinking the design of the CMOS pixel and leveraging our work with high sensitivity color filter patterns and algorithms, Kodak was able to develop this remarkable new sensor that will enable a level of imaging performance previously unavailable from CMOS devices.”
Key to the performance of this new sensor is the KODAK TRUESENSE CMOS Pixel, a re-engineering of the fundamental design and architecture of traditional CMOS pixels. In a standard CMOS pixel, signal is measured by detecting electrons that are generated when light interacts with the surface of the sensor. As more light strikes the sensor, more electrons are generated, resulting in a higher signal at each pixel. In the KODAK TRUESENSE CMOS Pixel, however, the underlying “polarity” of the silicon is reversed, so that the absence of electrons is used to detect a signal. This change enabled a series of improvements to the design and structure of the pixel that ultimately results in CMOS imaging performance that rivals that available from CCD image sensors.
Light sensitivity in the new sensor is enhanced through the use of the recently announced KODAK TRUESENSE Color Filter Pattern, which adds panchromatic, or “clear,” pixels to the red, green and blue pixels already on the sensor. Since these pixels are sensitive to all wavelengths of visible light, they collect a significantly higher proportion of the light striking the sensor. This provides a 2x to 4x increase in sensitivity to light (from one to two photographic stops) compared to current sensor designs, improving performance in low light and reducing motion blur in action shots.
At 5 million pixels, the KAC-05020 provides the highest resolution available in the popular ¼” optical format, and enables imagery up to ISO 3200 and support for full 720p video at 30 fps. The sensor is also supported by the Texas Instruments’ OMAPTM and OMAP-DM solutions, enabling a host of KODAK Image Processing and Enhancement Features (such as digital image stabilization, rapid auto-focus, red-eye reduction, and facial recognition) that provide digital camera-like performance in a camera phone.
“For consumers today, high resolution is required but no longer sufficient,” said Fas Mosleh, Worldwide Director of CIS Marketing and Business Development for Kodak’s Image Sensor Solutions business. “Smaller and thinner camera phones, high performance under low light, and superior video performance are the types of features that will enable the next generation of consumer imaging devices. And with this new Kodak sensor, camera designers can now put those features directly into the hands of their customers.”
The new sensor expands Kodak’s portfolio of CMOS and CCD image sensors for consumer and applied imaging applications, and positions the company to take advantage of the growing demand for high-quality image capture in a variety of devices, regardless of size.
The KAC-05020 will be demonstrated by Kodak at the GSMA Mobile World Congress held Feb 11 – 14 in Barcelona, Spain. Samples of the KAC-05020 are scheduled to be available in Q2 2008.
For additional information, please contact Image Sensor Solutions, Eastman Kodak Company at (585) 722-4385 or by email at imagers@kodak.com. For more information on Kodak’s entire image sensor product line, please visit www.kodak.com/go/imagers.
Change or Die? A General Counsel Panel – Part I
From feeds.lexblog
The one overriding thought I had (and I was not alone if you listened to the tweet stream) was that year after year, we’re hearing the same comments and advice from general counsel. What does that mean? It means that law firms STILL aren’t listening to what their clients really want.
In the past, this has been manageable, because the economy was thriving and there was plenty of work to be going around. But now, as Jeff Carr of FMC Technologies warns: There will be new business models that come into place. We’ll build them if you won’t. We don’t need YOU to survive. We need the [legal] industry to survive.” Scary stuff.
The lesson to be learned here is that the client is in charge, as they should be. So we’ve got to listen to them in order to survive. Let’s see what else the panelists had to say…
They began by reading Felice Wagner’s “A Client’s Poem” which does a good job of summing up what GCs really want (I encourage you to click through and read it).
General Counsel: Lawyer or Business person?
Then, the moderators dove right into the questions they had prepared, beginning with a discussion of the GC’s role as business manager versus their role as lawyer. Jeff Carr answered this very succinctly – “We are not lawyers. We are business people first.”
Going into a little more detail, he said that their primary job is to be the strategic advisor for the business team, then to be the legal advisor, and then to build and run a high performance team. Because his job is to deliver shareholder value every day, he expects the outside counsel that he works with to understand and appreciate this.
Janet Dhillon of JC Penney agreed with him, and said that her job is about balancing her clients’ business objectives with their legal requirements. She has a passion for her business and believes the firms they hire should share that passion. Along these lines, Ron Barger added that firms should try to understand what roles their clients fill, because these are not just legal roles. When firms have that perspective, there are avenues outside of the legal arena where firms can bring assistance and add value.
Creating Client Intelligence
The moderators then asked the panelists to comment on how a firm’s understanding of their business affects their purchasing of legal services. Janet said that it’s such an easy thing to do these days with the existence of the internet and all the technology out there, and it greatly saves her time. She suggested that firms set up daily Google news alerts for their clients, and said that staying abreast on what is happening with them can keep firms relevant.
Janet emphasized again that firms need to learn about their business in order to become their go-to firm, and said that firms need to “Share our passion.” Some of the best relationships that she has with outside counsel are with lawyers who will send her an email that demonstrates their passion and commitment to her company.
Ron said that in the past, firms used to send their clients newspaper clippings. However, there are now news aggregators online that lawyers can use to collect this information. He said that firms should be creating intelligence on their clients, and that it shouldn’t be just one attorney at the firm doing it – it should be shared with the team. Don’t simply look at what affects their business either, but also look at what their competitors are doing.
Janet illustrated this idea of staying focused on client intelligence with a story – the day after the Christmas holiday one year, a news story broke about her company, involving a plant in a foreign country. One of their firms emailed them to let them know that they had a partner vacationing in that very country, who was on the ground to assist them if needed. Although they didn’t require his assistance, it was invaluable that the firm had taken the time to stay updated on the issues affecting the company, reach out to them to offer their assistance, and did so even during the holiday season. That has stayed with her.
Jeff added that outside law firms are never going to understand his business as well as he does. So instead, he expects them to understand them as a company and a legal team, and what they expect. What does he want from his firms? “To be their most important and least significant client.” He wants his outside lawyers to think not like lawyers, but like business people, and to help give them a strategic advantage.
Keeping You Up at Night?
Although Ron joked that nothing is literally “keeping him up at night,” he does expect his outside counsel to keep on top of the things he might not know about that are coming down the pike. So the firms who can be their eyes and ears, and talk to him about these things, are the valuable ones.
Janet agreed and said that she wants her firms to tell her what she’s not planning for or anticipating. If a firm sees a trend that might impact her business, she wants to know about it. Janet also said that firms shouldn’t assume that their clients know about something already – even if they do, they will appreciate that their firms are thinking about them and their business.
Jeff added that he doesn’t want to hear an attorney say “You’ve got a big problem on the horizon and I can help you!” He just wants to know what the problem is, and how he can deal with it.
The moderators asked the panelists to comment on what sources their using for their own business intelligence gathering, so that the firms can avoid duplicating their efforts. Ron said that he reads the news, specifically the Wall Street Journal, the Washington Post, and the New York Times.
Lawyers and Non-Lawyers
The moderators then asked the panelists about their feelings on non-lawyers being responsible for managing a case. In one of the most applauded lines of the session, Jeff Carr said “I could care less if I talk to a lawyer, or I talk to a janitor. Just give me someone who can do the job.” He said that lawyers needs to “get over” the difference between “lawyers” and “non-lawyers.”
However, that being said, Janet cautioned that she doesn’t see professionals as being a substitute for a lawyer on their matters.
It’s All About Culture
Interestingly, Ron commented that he has never been asked by a firm about their culture, though understanding a company’s culture is crucial, since that’s what drives the business. Jeff agreed – he said that companies hire for credentials, experience and culture – the first two can be fixed, but you can’t fix culture if there’s a mismatch between the company and the firm. Ron emphasized, “If your firm’s culture doesn’t match my culture, you’re dead.”
Understanding a client’s culture is also about understanding what they DON’T like, and in this case, the panelists agreed – they don’t like surprises. Janet said that getting an unexpected bill, or learning about something she should have known already tells her that there’s a communication breakdown.
Ron added that a breach of confidence is also a no-no, as well as representing a competitor. Even if there isn’t a legal conflict, representing a competitor can look like an “allegiance conflict.” However, Janet didn’t agree with him, saying that sometimes when a firm represents their competitors, it can show that they have a particular understanding of their industry, which can help them be better advocates.
In another popular quote from the session, Jeff said that “The legal industry is perverse. It is the only industry where buyers act like sellers and sellers act like buyers.” He said that another of his pet peeves as a client is when a firm won’t take responsibility for something that is their fault. He doesn’t want to argue fault; he just wants to know what the firm will do to make things better, and that it won’t happen again. Janet agreed, saying that if a firm makes a mistake, own up to it. They can understand most mistakes, but arguing about it or not being candid is a problem.
Managing Costs
One of the things that gets everyone’s attention these days is the discussion of fees, and it was no different during this client panel. Janet said that clients aren’t looking to cheat their attorneys, they just have an expectation that their fees be reasonable. She also said that when there’s trust on both sides and they’re appropriately structured, alternative fee arrangements can really work. If you really understand a business, you will understand the level of importance of an individual matter and plan accordingly – but make sure to gauge your approach according to the importance of the matter to the CLIENT.
Ron commented that five years ago, he had said the billable hours would be gone in ten years. Since we’re already halfway there, he told the audience “You guys have to work on that.” He also agreed with Janet, saying that there is the misconception that clients are trying to screw down fees to grow revenues. But they just want to spend their money wisely. It comes down to aligning on the ultimate goal, understanding the deliverables, and being thoughtful about something.
Companies look at legal costs, and costs per matter, so they’re irritated when their outside counsel don’t. Ron said that as a whole, outside counsel are lagging behind inside counsel on competitive intelligence. GCs are looking at metrics and costs, and while law firms should, they’re not. Jeff agreed and said: The traditional law firm model is dying. Get over it and understand what the new world is going to be. There will be new business models that come into place. We’ll build them if you won’t. We don’t need YOU to survive. We need the industry to survive.” In terms of managing costs, Jeff said that he has banned the word “alternative” – “there is nothing ‘alternative’ about ‘alternative fees.’” Instead, he wants to talk about value-based fees, etc. His company is currently doing all of their legal work in the United States using value-based fees, and he told the audience “You guys have got to figure this out.”
He emphasized that firms must know what their costs are to do a certain kind of work. Firms must understand their cost structure, which is too high and based on pass-through and on inefficiencies. Jeff says he won’t tolerate that, and there are others in the industry who won’t either.
Janet said that as a GC, she has the cost data for matters that have been handled for them. Firms would have even more data if they chose to capture it, but they’re just not doing it. Firms should be able to figure out with every matter on average how much it will cost them. For example, she knows what it costs to litigate a certain type of matter. But if there are firms out there who know these costs, she hasn’t found them yet. She’s baffled when she shows her own data to firms and gets blank stares because they don’t know their own costs.
Once firms understand what their costs are, Janet says that it’s reasonable to build in a profit rate that’s fair.
Ron recommended that everyone read Richard Susskind’s The End of Lawyers, which will amplify what they shared in the panel. He said that in terms of managing costs, in his experience, when they’ve run firm proposals by the same matters that they’ve done historically, they always come in 25% higher than what they were billed. That isn’t right.
He said that until firms know what their costs are, they can’t be good partners to their clients. Janet agreed, saying that it’s in line with their values, which is also why understanding a company’s culture is so important. For JC Penney, their model is “fair and square pricing.” So they expect their law firms to be consistent with that, or it’s a cultural mismatch. She said that they’ll walk away from firms if they think they don’t share their values – it’s not “win at all costs.” Tune back in tomorrow for Part II of the General Counsel Panel, when we discuss how firms can find out what their clients really want to accomplish, using secondees, whether size matters, true differentiation, and what’s at the heart of it all – relationships.
Change or Die? A General Counsel Panel – Part I
From feeds.lexblog
The one overriding thought I had (and I was not alone if you listened to the tweet stream) was that year after year, we’re hearing the same comments and advice from general counsel. What does that mean? It means that law firms STILL aren’t listening to what their clients really want.
In the past, this has been manageable, because the economy was thriving and there was plenty of work to be going around. But now, as Jeff Carr of FMC Technologies warns: There will be new business models that come into place. We’ll build them if you won’t. We don’t need YOU to survive. We need the [legal] industry to survive.” Scary stuff.
The lesson to be learned here is that the client is in charge, as they should be. So we’ve got to listen to them in order to survive. Let’s see what else the panelists had to say…
They began by reading Felice Wagner’s “A Client’s Poem” which does a good job of summing up what GCs really want (I encourage you to click through and read it).
General Counsel: Lawyer or Business person?
Then, the moderators dove right into the questions they had prepared, beginning with a discussion of the GC’s role as business manager versus their role as lawyer. Jeff Carr answered this very succinctly – “We are not lawyers. We are business people first.”
Going into a little more detail, he said that their primary job is to be the strategic advisor for the business team, then to be the legal advisor, and then to build and run a high performance team. Because his job is to deliver shareholder value every day, he expects the outside counsel that he works with to understand and appreciate this.
Janet Dhillon of JC Penney agreed with him, and said that her job is about balancing her clients’ business objectives with their legal requirements. She has a passion for her business and believes the firms they hire should share that passion. Along these lines, Ron Barger added that firms should try to understand what roles their clients fill, because these are not just legal roles. When firms have that perspective, there are avenues outside of the legal arena where firms can bring assistance and add value.
Creating Client Intelligence
The moderators then asked the panelists to comment on how a firm’s understanding of their business affects their purchasing of legal services. Janet said that it’s such an easy thing to do these days with the existence of the internet and all the technology out there, and it greatly saves her time. She suggested that firms set up daily Google news alerts for their clients, and said that staying abreast on what is happening with them can keep firms relevant.
Janet emphasized again that firms need to learn about their business in order to become their go-to firm, and said that firms need to “Share our passion.” Some of the best relationships that she has with outside counsel are with lawyers who will send her an email that demonstrates their passion and commitment to her company.
Ron said that in the past, firms used to send their clients newspaper clippings. However, there are now news aggregators online that lawyers can use to collect this information. He said that firms should be creating intelligence on their clients, and that it shouldn’t be just one attorney at the firm doing it – it should be shared with the team. Don’t simply look at what affects their business either, but also look at what their competitors are doing.
Janet illustrated this idea of staying focused on client intelligence with a story – the day after the Christmas holiday one year, a news story broke about her company, involving a plant in a foreign country. One of their firms emailed them to let them know that they had a partner vacationing in that very country, who was on the ground to assist them if needed. Although they didn’t require his assistance, it was invaluable that the firm had taken the time to stay updated on the issues affecting the company, reach out to them to offer their assistance, and did so even during the holiday season. That has stayed with her.
Jeff added that outside law firms are never going to understand his business as well as he does. So instead, he expects them to understand them as a company and a legal team, and what they expect. What does he want from his firms? “To be their most important and least significant client.” He wants his outside lawyers to think not like lawyers, but like business people, and to help give them a strategic advantage.
Keeping You Up at Night?
Although Ron joked that nothing is literally “keeping him up at night,” he does expect his outside counsel to keep on top of the things he might not know about that are coming down the pike. So the firms who can be their eyes and ears, and talk to him about these things, are the valuable ones.
Janet agreed and said that she wants her firms to tell her what she’s not planning for or anticipating. If a firm sees a trend that might impact her business, she wants to know about it. Janet also said that firms shouldn’t assume that their clients know about something already – even if they do, they will appreciate that their firms are thinking about them and their business.
Jeff added that he doesn’t want to hear an attorney say “You’ve got a big problem on the horizon and I can help you!” He just wants to know what the problem is, and how he can deal with it.
The moderators asked the panelists to comment on what sources their using for their own business intelligence gathering, so that the firms can avoid duplicating their efforts. Ron said that he reads the news, specifically the Wall Street Journal, the Washington Post, and the New York Times.
Lawyers and Non-Lawyers
The moderators then asked the panelists about their feelings on non-lawyers being responsible for managing a case. In one of the most applauded lines of the session, Jeff Carr said “I could care less if I talk to a lawyer, or I talk to a janitor. Just give me someone who can do the job.” He said that lawyers needs to “get over” the difference between “lawyers” and “non-lawyers.”
However, that being said, Janet cautioned that she doesn’t see professionals as being a substitute for a lawyer on their matters.
It’s All About Culture
Interestingly, Ron commented that he has never been asked by a firm about their culture, though understanding a company’s culture is crucial, since that’s what drives the business. Jeff agreed – he said that companies hire for credentials, experience and culture – the first two can be fixed, but you can’t fix culture if there’s a mismatch between the company and the firm. Ron emphasized, “If your firm’s culture doesn’t match my culture, you’re dead.”
Understanding a client’s culture is also about understanding what they DON’T like, and in this case, the panelists agreed – they don’t like surprises. Janet said that getting an unexpected bill, or learning about something she should have known already tells her that there’s a communication breakdown.
Ron added that a breach of confidence is also a no-no, as well as representing a competitor. Even if there isn’t a legal conflict, representing a competitor can look like an “allegiance conflict.” However, Janet didn’t agree with him, saying that sometimes when a firm represents their competitors, it can show that they have a particular understanding of their industry, which can help them be better advocates.
In another popular quote from the session, Jeff said that “The legal industry is perverse. It is the only industry where buyers act like sellers and sellers act like buyers.” He said that another of his pet peeves as a client is when a firm won’t take responsibility for something that is their fault. He doesn’t want to argue fault; he just wants to know what the firm will do to make things better, and that it won’t happen again. Janet agreed, saying that if a firm makes a mistake, own up to it. They can understand most mistakes, but arguing about it or not being candid is a problem.
Managing Costs
One of the things that gets everyone’s attention these days is the discussion of fees, and it was no different during this client panel. Janet said that clients aren’t looking to cheat their attorneys, they just have an expectation that their fees be reasonable. She also said that when there’s trust on both sides and they’re appropriately structured, alternative fee arrangements can really work. If you really understand a business, you will understand the level of importance of an individual matter and plan accordingly – but make sure to gauge your approach according to the importance of the matter to the CLIENT.
Ron commented that five years ago, he had said the billable hours would be gone in ten years. Since we’re already halfway there, he told the audience “You guys have to work on that.” He also agreed with Janet, saying that there is the misconception that clients are trying to screw down fees to grow revenues. But they just want to spend their money wisely. It comes down to aligning on the ultimate goal, understanding the deliverables, and being thoughtful about something.
Companies look at legal costs, and costs per matter, so they’re irritated when their outside counsel don’t. Ron said that as a whole, outside counsel are lagging behind inside counsel on competitive intelligence. GCs are looking at metrics and costs, and while law firms should, they’re not. Jeff agreed and said: The traditional law firm model is dying. Get over it and understand what the new world is going to be. There will be new business models that come into place. We’ll build them if you won’t. We don’t need YOU to survive. We need the industry to survive.” In terms of managing costs, Jeff said that he has banned the word “alternative” – “there is nothing ‘alternative’ about ‘alternative fees.’” Instead, he wants to talk about value-based fees, etc. His company is currently doing all of their legal work in the United States using value-based fees, and he told the audience “You guys have got to figure this out.”
He emphasized that firms must know what their costs are to do a certain kind of work. Firms must understand their cost structure, which is too high and based on pass-through and on inefficiencies. Jeff says he won’t tolerate that, and there are others in the industry who won’t either.
Janet said that as a GC, she has the cost data for matters that have been handled for them. Firms would have even more data if they chose to capture it, but they’re just not doing it. Firms should be able to figure out with every matter on average how much it will cost them. For example, she knows what it costs to litigate a certain type of matter. But if there are firms out there who know these costs, she hasn’t found them yet. She’s baffled when she shows her own data to firms and gets blank stares because they don’t know their own costs.
Once firms understand what their costs are, Janet says that it’s reasonable to build in a profit rate that’s fair.
Ron recommended that everyone read Richard Susskind’s The End of Lawyers, which will amplify what they shared in the panel. He said that in terms of managing costs, in his experience, when they’ve run firm proposals by the same matters that they’ve done historically, they always come in 25% higher than what they were billed. That isn’t right.
He said that until firms know what their costs are, they can’t be good partners to their clients. Janet agreed, saying that it’s in line with their values, which is also why understanding a company’s culture is so important. For JC Penney, their model is “fair and square pricing.” So they expect their law firms to be consistent with that, or it’s a cultural mismatch. She said that they’ll walk away from firms if they think they don’t share their values – it’s not “win at all costs.” Tune back in tomorrow for Part II of the General Counsel Panel, when we discuss how firms can find out what their clients really want to accomplish, using secondees, whether size matters, true differentiation, and what’s at the heart of it all – relationships.
All in the Family: A Pair of Insider Trading Cases
From feeds.lexblog
The SEC filed and settled two cases this week in which insiders tipped family members about events at publicly traded companies. In both cases, the insider and the tippees settled with the Commission, paying far more than any profit earned.
• On Tuesday, May 8, 2012, the SEC filed a case against Mohammed Mark Amin, a Hollywood movie producer, and his brother, cousin, and three other friends and business partners for insider trading in the shares of DuPont Fabros Technology Inc., a company in which Mr. Amin served on the board of directors. Those who traded earned approximately $618,000, but the six defendants settled by paying nearly $2 million.
• On Monday, May 7, 2012, the Commission filed a case against Angela Milliard, a former paralegal at Semitool Inc., a semiconductor company in Montana, and her father for trading on inside information about the 2009 acquisition of the company. The daughter and father (who earned $67,000) agreed to settle the SEC’s case by paying more than $175,000.
The Hollywood Executive. The SEC described Mr. Amin as “a motion picture executive,” who was “the producer or executive producer for more than 75 Hollywood movies including Frida, Eve’s Bayou, and four movies in the Leprechaun series.” The SEC claims that, prior to a company board meeting, Mr. Amin learned about three new leases that DuPont Fabros was negotiating and three loans it was obtaining to develop new facilities. Mr. Amin learned this information when he received materials for a special board meeting to approve the three new loans.
Mr. Amin tipped his brother, his cousin, and a long-time friend and business manager. Those three traded on the basis of the inside information, and his brother tipped two friends and business associates. The group made more than $618,000 in insider trading profits when the company’s share price rose 36 % after an earnings release disclosed the development of these new facilities.
The six defendants agreed to settle the SEC’s charges by collectively paying almost $2 million (consisting of disgorgement of $618,497, prejudgment interest of $78,000, and penalties totaling $1,236,994). They also agreed to the entry of a final judgment permanently enjoining them from violating Section 10(b) of the Exchange Act and Rule 10b-5. Mr. Amin agreed to a 10-year bar from serving as an officer or director of a public company.
The Montana Paralegal. In 2009, Ms. Milliard learned that Semitool and Applied Materials Inc., a Silicon Valley company, had entered into advanced merger negotiations, which would result in a the tender offer for nearly 30 % more than Semitool’s price at the time. The Commission alleged that she wired money to her boyfriend’s brokerage account and used it to purchase Semitool shares. She also provided her father Kenneth Milliard with information about the negotiations. He then purchased shares and tipped his sons, who also acquired shares. After Applied’s acquisition of Semitool was announced, the Milliards sold their shares, earning profits of more than $67,000.
The daughter and father agreed to settle with the Commission by paying more than $175,000. Ms. Milliard will disgorge her profits of $20,355, and pay prejudgment interest of $1,614 and a penalty of $54,022. Her father will disgorge both his and his sons’ profits of $47,805, and pay prejudgment interest of $3,765 and a penalty of $47,805.
Exit Strategies That Get Investor Attention (6/5/2012 7:00:00 PM)
From foleyhoag.com
Most early-stage entrepreneurs know they need an exit plan, but often do not give it much thought at the early stage of developing their venture. Investors, however, always have their exit in mind.
To make the maximum use of whatever form of company and investment you develop, you also need to consider what you plan to do when it is time to leave. It is never too early, but it could be a bit late to achieve your best potential solution.
A panel of experts will discuss the strategies to help you plan for the best outcome.
PANEL:
Frank Mancieri, MBA, Partner B2B CFO
Mr. Mancieri’s areas of expertise include cash-flow analysis, evaluation, improvement, evaluating systems, processes, changes and the installation of reasonable controls to protect business assets, and assisting business owners with acquisition and sale.
He is active in a number of business and civic organizations, including Pinnacle Equity Solutions, Exit Planning Exchange, where he serves on the Membership Committee; is an active member of The Financial Executives Networking Group, B2B Connexions, Greater Providence Chamber of Commerce, and EFNE Entrepreneur-Team; and is active with Financial Executives International and Rhode Island Association of Accounting Professors. He also donates his time as a Board Member for a non-profit free health clinic in Providence, RI.
Andrew Paradise, Director, Intuit; Founder, AisleBuyer LLC
Andrew Paradise is currently a Director of Payment Solutions at Intuit. He is currently on the advisory board for the Inventis Group, a technology transfer initiative for the U.S. Air Force.
He was the Founder and CEO of AisleBuyer LLC, a mobile technology company, until it was acquired by Intuit recently in April 2012.
Prior to AisleBuyer, Andrew was CEO of Photrade, a web 2.0 digital media and advertising company. Before starting his own ventures, Andrew worked in venture capital investing for Fort Washington Capital Partners and private equity investing for the Watermill Group.
Andrew is a member of Boston-ENET and also served on the Ad board for some time.
Dr. Harmeet Singh, SVP Sales, Tejas Networks; Co-founder, Optovia
Harmeet’s experience includes general management, product management and R&D at Tejas Networks, Optovia, Nortel Networks, Qtera Corporation and 3M Corporation.
At Tejas Networks he runs the international business and strategic sales channels for the company. Prior to Tejas, he was the co-founder and CEO of Optovia, an optical networking company. He led the company through its early stages to maturity, closing several Tier 1 carrier accounts. Optovia was acquired by JDSU in 2006. He has earlier held mid to senior level positions in product development at Nortel/Qtera and led R&D and product management teams at 3M.
Harmeet holds an engineering degree from Indian Institute of Technology (IIT) Kanpur, India, and a Doctorate from University of Maryland, College Park and has an Executive Education in Finance from Harvard Business School.
Carl Stjernfeldt, MBA, Venture Partner, Castile Ventures
Carl Stjernfeldt is on the investment team of Castile Ventures, with a focus on wired and wireless communications technologies and services, on advanced mobility solutions that provide secure high quality access to content and applications, and on next generation video delivery capabilities. He currently serves on the board of Funambol.
Prior to joining Castile, Mr. Stjernfeldt was a partner at Battery Ventures. During his time with Castile and Battery he has served on the boards of Agito Networks (acquired by ShoreTel), Arbor Networks (acquired by Tektronix), BNI Video (acquired by Cisco), Broadbus Technologies (acquired by Motorola), Cedar Point Communications (acquired by Genband) and Tejas Networks, and was a board observer of Optium (NASDAQ: OPTM, acquired by Finisar).
Prior to Battery Ventures, Mr. Stjernfeldt was a client partner and project manager for Cambridge Technology Partners, delivering large mission-critical system implementations for Fortune 100 clients. Mr. Stjernfeldt started his career as an engineer at Summa Four, developing telecommunications solutions for domestic and international service providers, later rising to engineering management before starting an application development department.
MODERATOR AND PANEL CO-ORGANIZER:
Satish Mantripragada, MBA, Principal, SecurMedia Marketing
Mr. Mantripragada is a business and marketing strategist. He is an accomplished business manager with extensive experience in both national and international arenas in the areas of Internet-based marketing and general product management (technology-based solutions development).
Mr. Mantripragada started his career at Digital Equipment Corporation (acquired by HP) developing a patented technology for real-time “stock quote” broadcast network based on multicast reverse path forwarding (RPF). He was also the co-founder of Secure Konnect in 2003, an enterprise security tools company for the small and medium enterprise (SME) marketplace. The company developed two products from ideation to product and helped launch it in the market in the United States and in APAC with a partner. He helped create the brand and early marketing strategy for this company and led the company through its most rapid growth phase; achieving major milestones prior to acquisition by a California-based strategic investor in 2005.
Mr. Mantripragada is currently an independent marketing consultant (SecurMedia Marketing), working with clients to develop their inbound marketing strategies that comprises leveraging web presence, developing social media, email, blog and webinar based campaign strategies for mobile startups in particular and other early stage companies in the greater Boston area.
PANEL CO-ORGANIZER:
Fausto Molinet, President, Matrix Internationale
Matrix Internationale is a business strategy, market research, and executive coaching consultancy specializing in assisting technology startups and those companies seriously planning to expand their business. Fausto is one of the founders of the IEEE Boston Entrepreneurs Network.
PRICE:
Boston Entrepreneurs Network meetings are free for members and $20 for non-members.
TIME AND LOCATION(S):
5:15 p.m. Pre-meeting self-pay dinner.a”Bertucci’s Restaurant,a”475 Winter St., (exit 27B off Route 128), Waltham, MA (“pay-as-you-go”)a”(no reservation necessary).
7:00 – 10:00 p.m. Meeting Presentation. Note: Meeting at the Foley Hoag Emerging Enterprise Center, 1000 Winter Street, Suite 4000 (north entrance), Waltham, MA
New entry policy: The doors to the North Entrance of 1000 Winter Street are locked at 7:00 p.m. For admittance after 7:00 p.m., please use your cell phone to call the number that will be posted at the door.
Aging in Place: Technology to Keep People Home (6/6/2012 5:30:00 PM)
From foleyhoag.com
As the baby boom generation (those born in the years 1946-1964) ages into an elderly population, there will be a dramatic increase in the requirements to provide services to this population. The number and availability of children of these baby boomers is neither large enough nor available enough to care for this aging population by themselves. History also shows that the primary desire of these elders from both a cost and quality of life standpoint will be to stay at home rather than be required to go to nursing homes or assisted living facilities.
This forum will explore the demographics and needs of our aging population, the currently available approaches and technology, and future opportunities for developing assistive technology to address the needs of our aging population. The goal of this forum will be to provide an overview of the needs and issues of an aging population, and to spark discussion about the opportunities presented by the challenges. The forum will have speakers from geriatric medicine, health care and technology companies that are addressing this critical need.
Dr. Alan Teel, the keynote speaker, will be available before the session at the Foley Hoag Emerging Enterprise Center beginning at 4:30 p.m. to autograph his book Alone and Invisible No More: How Grassroots Community Action and 21st Century Technology Can Empower Elders to Stay in Their Homes and Lead Healthier, Happier Lives.
WHO SHOULD ATTEND:
KEYNOTE SPEAKER:
Allan S. Teel, MD. Allan Teel has practiced geriatric and family medicine in Damariscotta, Maine, for 25 years. Dr. Teel is founder and president of Full Circle America, an innovative approach that uses grassroots community action and 21st century technologies to empower elders to stay in their homes. Dr. Teel will be available prior to the session at 4:30 p.m. to sign his book Alone and Invisible No More.
PANELISTS:
Linda J. Smith, RN, BSN CMC Nurse Geriatric Care Manager, Metro West Eldercare Management MODERATOR:
David R. Pierson , Partner, Foley Hoag
Los Angeles Accident Attorney
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PMA 2009: Kodak has announced the EasyShare Z915 digital compact camera. This 10 Mp camera offers a 10x image stabilized optical zoom lens and a 2.5 inch LCD. It also includes a Smart Capture mode that automatically analyses scenes and adjusts the camera settings accordingly. Priced at £179.99, the Z915 will be available from May 2009 in red, blue, black and gray.
Photokina 2008: Kodak has designed a new line of advanced CCD image sensors to power the latest medium format DSLRs, including the Leica S2, Sinar HY6-65 and Hasselblad H3DII-50. The Leica S2 features the KAF-37500 37.5MP sensor with an imaging area of 45mm x 30mm, bringing in a completely new format; interestingly it also includes a novel slimline infrared filter, which we’d guess could eventually find its way into a future Leica M sensor. The Sinar Hy6-65 sports the KAF-31600 34.6MP sensor with an imaging area of 46mm x 35mm, and the Hasselblad H3DII-50′s KAF-50100 50MP, 48mm x 36mm sensor sets a new benchmark in medium format camera resolution.
Kodak has announced the creation of a new medium format 50MP chip, to be used in the newly-unveiled Hasselblad H3DII-50. The KAF-50100 Image Sensor offers a sensitivity range of ISO 50 – 400 and the highest resolution currently available in the 36 x 48mm format. The company spoke to us to explain the chip and the technologies behind it.
Kodak has announced a new sensor which promises to improve the efficiency of CMOS designs with extremely small photosites. The new technology is to be offered initially in 1/4″ format suitable for mobile phone cameras but should be scalable to larger formats should the concept prove successful. Conventional designs count electrons which are generated when light hits the silicon from which they are constructed but this new chip works in roughly the opposite fashion, reversing the ‘polarity’ of the silicon in order to measure the ‘holes’ which remain when electrons are generated. The Kodak KAC-05020 also incorporates Kodak’s TRUESENSE Color Filter Pattern which adds panchromatic (transparent) filters to the usual Red Green and Blue, further improving luminance sensitivity.
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A few days ago, I offered my initial recap of the general counsel panel that we were treated to at this year’s Legal Marketing Association Annual Conference, focusing on some key quotes from the session. Now, let’s get into the meat of the panel, where even more value is to be found.
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