18.05.2012

North Carolina employers must help people with workplace injuries …

posted by desoit

in editorial

When someone is injured on the job, they have the right to file a workers’ compensation claim. If employers don’t have workers’ compensation insurance, employees might find themselves without coverage. Now the North Carolina Industrial Commission is pursuing employers who don’t have workers’ compensation insurance for their employees.

By law, employers over a certain size must have insurance coverage to pay for workers’ compensation insurance that will cover an employee’s expenses related to a workplace injury. Some employee’s might not know that if they are hurt on the job, their employer and?the employer’s?insurance company should cover their medical expenses.

If an employer is hoping to save money by not buying worker’s compensation insurance, they could be fined by the government and shouldn’t be let off the hook for the employee’s expenses. To try to encourage employers to buy workers’ compensation insurance, the North Carolina Industrial Commission said it will as for the arrest of employers who don’t comply and they will face criminal prosecution as well as possible civil penalties.

Even if an employer is relatively small and doesn’t have workers’ compensation insurance, employees that are injured are still entitled to having their expenses related to a workplace accident covered. If they are denied, or an employer tells them to use their own insurance coverage instead, they may want to speak with an experienced workers’ compensation attorney. By understanding your rights, you may be able to seek compensation, if you are injured, from employers who violate the law by not having proper insurance.

Source: Insurance Journal, “North Carolina Employers Face Jail Time Over Uncovered Workers’ Claims,” Michael Adams, April 23, 2012

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18.05.2012

5 Ways Self-Driving Cars Will Make You Love Commuting

posted by desoit

in editorial

[ [ [['A picture is worth a thousand words', 5]], ‘http://news.yahoo.com/why-facebook-bought-instagram-4-theories-160400376.html’, ‘[Related: Why Facebook bought Instagram: 4 theories]‘, ‘ ‘, ’630′, ‘ ‘, ‘ ‘, ], [ [['He was in shock and still strapped to his seat', 9]], ‘http://contributor.yahoo.com/join/yahoonews_virginiabeach’, ‘[Did you witness the jet crash? Share your story with Yahoo! News]‘, ‘ ‘, ’630′, ‘ ‘, ‘ ‘, ], [ [['A JetBlue flight from New York to Las Vegas', 3]], ‘http://yhoo.it/GV9zpj’, ‘[Related: View photos of the JetBlue plane in Amarillo]‘, ‘ ‘, ’630′, ‘ ‘, ‘ ‘, ], [ [['Dick Clark', 11]], ‘http://news.yahoo.com/photos/dick-clark-dies-at-82-slideshow/’, ‘Click image to see more photos’, ‘http://l.yimg.com/a/p/us/news/editorial/c/21/c217c61aa2d5872244c08caa13c16ec5.jpeg’, ’500′, ‘ ‘, ‘Reuters’, ], [ [['the 28-year-old neighborhood watchman who shot and killed', 15]], ‘http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/’, ‘Click image to see more photos’, ‘http://l.yimg.com/cv/ip/ap/default/120411/martinzimmermen.jpg’, ’630′, ‘ ‘, ‘AP’, ], [ [['Titanic', 7]], ‘http://news.yahoo.com/titanic-anniversary/’, ‘ ‘, ‘http://l.yimg.com/a/p/us/news/editorial/b/4e/b4e5ad9f00b5dfeeec2226d53e173569.jpeg’, ’550′, ‘ ‘, ‘ ‘, ], [ [['He was in shock and still strapped to his seat', 6]], ‘http://news.yahoo.com/photos/navy-jet-crashes-in-virginia-slideshow/’, ‘Click image to see more photos’, ‘http://l.yimg.com/cv/ip/ap/default/120406/jet_ap.jpg’, ’630′, ‘ ‘, ‘AP’, ], [ [['xxxxxxxxxxxx', 11]], ‘http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/’, ‘Click image to see more photos’, ‘http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg’, ’500′, ‘ ‘, ‘AP’, ] ]

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18.05.2012

Mayo Clinic recognized as an economic driver in Phoenix

posted by desoit

in editorial

[ Back to EurekAlert! ] Public release date: 17-May-2012
[ | E-mail | Share Share ]

Contact: Jim McVeigh
mcveigh.jim@mayo.edu
480-301-4368
Mayo Clinic

Phoenix — Mayo Clinic, with an annual economic impact in Arizona of $1.5 billion, has been recognized as the first recipient of the Greater Phoenix Chamber of Commerce’s IMPACT Award as an Economic Driver. The IMPACT Awards, presented May 17, honor the accomplishments of Phoenix area businesses and recognize the impact they’ve made on the greater Phoenix business community.

Since opening in Arizona 25 years ago, Mayo Clinic’s presence has been a significant economic driver for the state in the form of jobs, tax revenue, research and education. Mayo Clinic has been a catalyst in attracting scores of other health care and medical research related businesses and practices to the Phoenix area. Mayo Clinic serves nearly 100,000 patients per year from all 50 states and several countries. Other key factors behind the recognition of Mayo Clinic include:

  • Development of first proton beam therapy program in the Southwest: Proton beam therapy will provide more precise radiological cancer treatment and more hope for thousands of patients. The cutting-edge cancer treatment program will be housed in a $182 million, 100,000-square-foot building on the Mayo campus in Phoenix, boosting the economy with construction jobs and permanent medical jobs.
  • Mayo Medical School: The Mayo Medical School Arizona Campus, expected to open in 2014, will include a key collaboration with Arizona State University. A major differentiating feature at this new branch: all students will complete a specialized master’s degree in the Science of Health Care Delivery granted by ASU, concurrently with their medical degree from Mayo Medical School, believed to be the first medical school to offer such a program.
  • Annual economic impact of $1.5 billion on the Phoenix area economy: Mayo’s impact was documented in a A 2010 study by Battelle Technology Partnership Practice .
  • Mayo has provided jobs for thousands of residents and education for doctors, nurses and other medical professionals: Hundreds of local residents have volunteered thousands of hours at the clinic and hospital, an extension of the caring and competent Mayo staff. As an employer, Mayo Clinic consistently ranks as one of the area’s best places to work in the Phoenix area.

The 2012 awards recognize two business sector recipients (a business with more than 250 employees and a business with 250 or fewer employees) in each of five categories: Community Champion, Economic Driver, Entrepreneurial Excellence, Response to Adversity and the 2012 IMPACT Business of the Year.

###

About Mayo Clinic

Mayo Clinic is a non-profit worldwide leader in medical care, research, and education for people from all walks of life. For more information, visit www.mayoclinic.org/about/ and www.mayoclinic.org/news.



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?

AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.

[ Back to EurekAlert! ] Public release date: 17-May-2012
[ | E-mail | Share Share ]

Contact: Jim McVeigh
mcveigh.jim@mayo.edu
480-301-4368
Mayo Clinic

Phoenix — Mayo Clinic, with an annual economic impact in Arizona of $1.5 billion, has been recognized as the first recipient of the Greater Phoenix Chamber of Commerce’s IMPACT Award as an Economic Driver. The IMPACT Awards, presented May 17, honor the accomplishments of Phoenix area businesses and recognize the impact they’ve made on the greater Phoenix business community.

Since opening in Arizona 25 years ago, Mayo Clinic’s presence has been a significant economic driver for the state in the form of jobs, tax revenue, research and education. Mayo Clinic has been a catalyst in attracting scores of other health care and medical research related businesses and practices to the Phoenix area. Mayo Clinic serves nearly 100,000 patients per year from all 50 states and several countries. Other key factors behind the recognition of Mayo Clinic include:

  • Development of first proton beam therapy program in the Southwest: Proton beam therapy will provide more precise radiological cancer treatment and more hope for thousands of patients. The cutting-edge cancer treatment program will be housed in a $182 million, 100,000-square-foot building on the Mayo campus in Phoenix, boosting the economy with construction jobs and permanent medical jobs.
  • Mayo Medical School: The Mayo Medical School Arizona Campus, expected to open in 2014, will include a key collaboration with Arizona State University. A major differentiating feature at this new branch: all students will complete a specialized master’s degree in the Science of Health Care Delivery granted by ASU, concurrently with their medical degree from Mayo Medical School, believed to be the first medical school to offer such a program.
  • Annual economic impact of $1.5 billion on the Phoenix area economy: Mayo’s impact was documented in a A 2010 study by Battelle Technology Partnership Practice .
  • Mayo has provided jobs for thousands of residents and education for doctors, nurses and other medical professionals: Hundreds of local residents have volunteered thousands of hours at the clinic and hospital, an extension of the caring and competent Mayo staff. As an employer, Mayo Clinic consistently ranks as one of the area’s best places to work in the Phoenix area.

The 2012 awards recognize two business sector recipients (a business with more than 250 employees and a business with 250 or fewer employees) in each of five categories: Community Champion, Economic Driver, Entrepreneurial Excellence, Response to Adversity and the 2012 IMPACT Business of the Year.

###

About Mayo Clinic

Mayo Clinic is a non-profit worldwide leader in medical care, research, and education for people from all walks of life. For more information, visit www.mayoclinic.org/about/ and www.mayoclinic.org/news.



[ Back to EurekAlert! ] [ | E-mail | Share Share ]

?

AAAS and EurekAlert! are not responsible for the accuracy of news releases posted to EurekAlert! by contributing institutions or for the use of any information through the EurekAlert! system.

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17.05.2012

16th-century big thinker Erasmus was censored

posted by desoit

in editorial

More than 400 years before modern-day governments tried shutting down blogs or blocking tweets, two people tasked with censoring a sometimes-critic of the Catholic Church in Renaissance Europe took to their duties in very different ways: one with great beauty, the other with glue and, it appears, a message.

Now, two books, housed at separate libraries at the University of Toronto, illustrate two unusual approaches censors took when dealing with the same author, Erasmus.

Born in Rotterdam around 1466, Erasmus was a prolific writer who sought out wisdom in ancient Greek and Latin texts. His writings, mass produced thanks to the printing press, were at times critical of the Catholic Church.

By the time he died in 1536, the church was breaking apart, with splinter groups known as Protestants coming into conflict with the Catholics. English King Henry VIII was one of the most famous examples of a Protestant, creating a Church of England separate from church authorities in Rome. [ In Photos: A Journey Through Early Christian Rome ]

The conflicts that ensued between Catholics and Protestants were fought not just with guns and swords, but with ideas, especially the printed word. Erasmus was considered by some to be a Protestant sympathizer, and in 1559 his texts were put on a Roman index of forbidden books. Both sides tried to censor each other whenever they could, with the Catholics being somewhat more effective, at least during the 16th century.

“They had the agents to be able to do it,” said Pearce Carefoote, a librarian at the Thomas Fisher Rare Book Library at the University of Toronto and author of “Forbidden Fruit: Banned, Censored, and Challenged Books from Dante to Harry Potter” (Lester, Mason & Begg, 2007).

“Protestants didn’t have that same ability in the 16th century,” Carefoote added, noting that Protestants didn’t have the same level of organization.

Censoring with glue … and words
One book, “Adagorium,” was published in 1541 in Lyon, France, and was cataloged this month in the Thomas Fisher Library. The book contains ancient proverbs written in Latin and Greek along with commentary by Erasmus.

Parts of it are blotted out with ink, a practice not unusual for the time. However, one section was treated with particular disdain, having pages ripped out, sections inked out and two of the pages actually glued together, still stuck after more than 400 years. [ See Photos of the Censored Books ]

“They’ve censored it, and then just to make sure they glued the page together,” Carefoote told LiveScience. “This is the first time I’ve ever seen that (the use of glue).”

If that wasn’t enough, the censor appears to have left a message on the front, written in Latin, blasting Erasmus. It reads (in translation), “O Erasmus, you were the first to write the praise of folly, indicating the foolishness of your own nature.” One of Erasmus’ works was called “The Praise of Folly.”

Carefoote cautioned that the message could’ve been written by another person, though the ink seems to match that of the censor. From the style of writing Carefoote thinks the censorship may have occurred late in the 16th century but more research is needed to firm up that date.

Erasmus’ ideas on war seem to have gotten lots of ink; that section of the book begins with the adage “Dulce bellum inexpertis,” or “war is sweet to those who haven’t experienced it.” The censorship starts out slow at first with just a sentence blotted out here and there, but picks up later with entire sections being inked over. Carefoote suspects some Catholics would not have been amused by these ideas on war.

“He would not have gone along with the basic ‘just war’ theories that the scholastics (a group of thinkers) had developed,” Carefoote said of Erasmus. [ The History of Human Aggression ]

After it was censored, the book was likely kept in a restricted library called an inferno, Carefoote suggests. That would’ve made reading it difficult. “Say this was kept in a cathedral library, in a Catholic town, what you would have to do is, you would have to put in a petition to one of the church officials,” he said. “They would examine your reasons for why you need to see this book and they would give permission to let you read it.”

The book was bequeathed to the library by the late Ralph Stanton, an avid collector of books and a mathematics professor at the University of Waterloo in Canada.

Censoring with beauty
In contrast to the newly discovered glued-up book, another example of Erasmus’ writing, held at the Centre for Renaissance and Reformation Studies at the University of Toronto, reveals a censor who took to his task with an artistic flourish.

Published in Basel, Switzerland, in 1538 this book contains essays by Erasmus introducing the writing of St. Ambrose, a fourth-century saint who was the bishop of Milan.

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“It is one of the most exquisitely beautiful examples of censorship, with the offending passages obliterated using vibrant watercolors framed in baroque scroll frames with attending putti (an image of a male child),” Carefoote writes in his 2007 book. While the censor blanked out the prefaces by Erasmus he left the saint?s work alone. It’s not known what Erasmus said that got him censored. It’s also not known why the censor, probably a librarian, approached his job with such artistry.

“You have some librarians who just love books and so it could have been that the book itself he wanted to preserve in as good a state as he possibly could, so therefore he complied with the law but he did it in such a way that it was not offensive to the book,” Carefoote said.

Or perhaps, deep down, the censor actually sympathized with Erasmus’ work. “Maybe he sympathized with Erasmus and so he wasn’t going to the extremes that (the other person) did,” Carefoote added.

Whatever the reasons, these censors have left researchers with two remarkable 16th-century artifacts, now within walking distance of each other. Two works by the same author, both of which were censored, one with glue and the other with artistic beauty.

? 2012 LiveScience.com. All rights reserved.

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17.05.2012

Verizon CFO says grandfathered unlimited plans on the way out

posted by desoit

in editorial

Verizon CFO says grandfathered unlimited plans on the way outVerizon Communications CFO Fran Shammo shattered many a hopes and dreams today speaking at the J.P. Morgan Technology, Media and Telecom conference. During his address, Shammo indicated that customers who have been grandfathered in to the unlimited data plan may soon find themselves pushed into tiered territory, with the debut of the carrier’s shared data plans. “Everyone will be on data share,” Shammo said, clarifying that, “a lot of our 3G base is on unlimited… [and] when they migrate off 3G they will have to go to data share.” Obviously, with many customers clinging desperately to their truly unlimited usage in the shift to LTE, such a move would ruffle more than a few feathers. It’s not clear if this will affect customers who have already made the leap to LTE devices or if it will be limited to customers migrating from 3G phones after a particular cut off date. We’ve reached out to Verizon for comment, but so far Big Red is keeping mum. We’ll just have to take Shammo at his word for now. We hope you like data caps. To hear the comments in full hit up the source link.

Update: We just finished listening through the entire webcast (we’re still waiting for the transcript) and found the quote that is going to make most customers shake their fists in anger:

“LTE is our anchor point for data share. So, as you come through an upgrade cycle and you upgrade in the future, you will have to go on to the data share plan. And moving away from, if you will, the unlimited world and moving everyone into a tiered structure data share plan.”

Doesn’t get much clearer than that, but we’re still hoping Verizon will come back and say Shammo was speaking out of turn… fingers crossed.

Verizon CFO says grandfathered unlimited plans on the way out originally appeared on Engadget on Wed, 16 May 2012 13:43:00 EDT. Please see our terms for use of feeds.

Permalink FierceWireless, Mobileburn  |  sourceVerizon  | Email this | Comments


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17.05.2012

Sprint won?t make profit out of the iPhone until 2015

posted by desoit

in editorial


1. android_hitman posted on 38 min ago 2 1

by then iPhone will not be so popular anymore :) so no more profit for you greedy Sprint


2. RoyalTroll posted on 17 min ago 1 1

Exactly, by the iPhone won’t be as popular especially with bb10 and wp8 coming out. People get bored of the same s**t and eventually they will switch.


3. bragzter posted on 13 min ago 1 0

Apple is asking too much from carriers. So even if the carriers don’t make any profit, they’re already got paid, thus increasing the bottom line and smiling all the way to the bank.


4. Sniggly posted on 11 min ago 0 1

You forgot the part where you corroborate the headline with content in the article. But I’ll go ahead and do it for you:

“By its own admission, Sprint won?t profit from the device until 2015.”

Direct quote from the AllThingsD article.

Now the trick will be to see if Sprint survives until 2015.


7. sithman posted on 6 min ago 0 0

Well said sniggly. Sprint was in trouble long before they got the iPhone. It’s saving the subscribers, that’s a plus rite there.


8. Sniggly posted on 1 min ago 0 0

I think what’s really going to help Sprint is if they get a worthwhile 4G network up and running. WiMax was their biggest mistake ever.


5. jmoita2 posted on 9 min ago 0 0

Well, you make a deal with the Devil guess what??? You get screwed.

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16.05.2012

What is arbitration? You sign away rights. Is that OK?

posted by desoit

in editorial

Cellphone and credit card applications typically contain an arbitration clause that keeps you from suing the phone carrier or bank if a dispute arises. Often, the bank gets to pick the arbitrator. The federal government is looking to see if arbitration clauses give companies too much power.

By Bill Hardekopf,?Contributor / May 15, 2012

In this October file photo, a man using a cellphone passes an AT&T store in New York. When you sign up for a cellphone or checking account, it’s likely that you sign an arbitration clause, which means giving up the right to sue the company in the event of a dispute.

Mark Lennihan/AP/File

Enlarge

If you have applied for a checking account, cellphone, or credit card, you have probably signed away some of your rights.

Skip to next paragraph

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You may not even be aware that you have. In many cases, consumers agree to an arbitration clause that forfeits their right to a jury trial or class-action lawsuit if something goes wrong.

That means that if your cellphone carrier overbills you, you can’t take the company to court. If the credit card company isn’t moving to resolve a dispute, a threat to sue probably won’t get you anywhere. Instead, you’ve agreed to have your case heard before an arbitrator who will make a binding decision.

Is that a good thing?

Companies that use arbitration clauses claim that the process is fair, and that it is faster and less expensive than litigation. It’s also quite popular.

Of the 265 types of checking accounts offered by the 10 biggest banks, all but 10 required accountholders to waive the right to a jury trial, according to a 2010 study by the Pew Safe Checking in the Electronic Age Project. For 189 of those accounts, they also had to agree to have the dispute settled before a private arbiter chosen by the bank.

In the wake of that imbalance of power, the Consumer Financial Protection Bureau last month announced plans to study the use of arbitration clauses in financial contracts. The CFPB will analyze the kinds of claims that consumers bring in arbitration cases, the prevalence of arbitration clauses in agreements for consumer financial products, and what kind of an effect arbitration has on consumers and companies.

When it passed the Dodd-Frank bank reform bill, Congress gave the agency the power to create regulations that limit or end the practice.

The CFPB wants consumers to share their experiences and opinions about arbitration as part of its inquiry. Comments must be submitted by June 23, 2012. Information can be found here.

The US Supreme Court has sided with companies in favor of binding arbitration in two recent court cases.

??Bill Hardekopf?is founder of?Lowcards.com, a credit -card information site.

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16.05.2012

PressNewsRoom ? Blog Archive ? Professional Home Staging …

posted by desoit

in editorial

Megan Morris, Founder and CEO of residential home staging company, MHM Professional Staging, a sought-after Central Florida firm, shares seven tips for readers considering an at-home wedding.

Orlando, Fla. ? May 14, 2012 ? Megan Morris, Founder and CEO of residential home staging company, MHM Professional Staging, recently published an article on her website www.professionalstaging.com, discussing the process of hosting an at-home wedding. The article, titled ?Seven Tips for a Great Home Wedding? shares several valuable tips with her readers.

Morris writes, ?An at-home wedding can be a fantastic choice, as it often costs substantially less than renting a facility, and it gives the wedding planners a great deal of flexibility with regards to d?cor, layout, and scheduling.? However, planning a successful at-home wedding is no easy task.?

MHM Professional Staging, a home staging company in Orlando,? offers a host of home interior staging services to their broad array of clients. Whether you need to position your personal home for sale, create a set design for a TV show or re-designing your hotel lobby space, MHM has the expertise and talent to meet the challenge. CEO Megan Morris leverages the firm?s years of experience to provide clients with superior service, timely design and beautifully finished spaces that attract attention.

The entire article can be found at http://www.professionalstaging.com/blog/seven-tips-for-a-great-home-wedding.php

To learn more about Megan Morris and MHM Professional Staging, please visit http://www.professionalstaging.com/

About MHM Professional Staging:

Founded in early 2010, MHM Professional Staging, Inc. has quickly grown into one of the most sought-after professional home staging companies in the Central Florida area.

This highly talented team works with clients with varying budgets to position their home for a successful sale. In today?s competitive real estate market, MHM Professional Staging can drive a buying decision from prospective buyers with a range of interior adjustments.

MHM provides a diversity of services to their valued customers. The talented team can handle any type of design and re-design project, with experience spanning from homes to lobbies, set designs for TV, sales centers and boutique hotels. The company?s leaders take pride in their highly trained and experienced professionals who can handle any complex task to get the job done in an efficient manner. MHM Professional Staging cherishes the continued loyalty of their past customers, and continues to strive forward in meeting the needs of their future customers.

With over a decade of experience, this staging firm?s leadership has built a prestigious reputation for exceeding expectations, getting results, and making a lasting impression.

About Megan Morris:

MHM Professional Staging, Inc. is lead by Megan Morris, CEO and founder. At the lead of the MHM team, Megan has translated strong values into the company?s core mission.

Under Megan?s wisdom, MHM is equipped with the expertise and necessary skills to stage your home in the most visually appealing light.

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16.05.2012

The Rural Stops: Home Based Business Ideas – Some Great Home …

posted by desoit

in editorial

You have been attached to your dream for the longest time now, putting the home based business ideas to action where you need to work extra hours from the internet to generate some amount of cash. Your reasoning might be because you want to solve your financial insecurities; save to travel around the world or in the future to quit your stressing job and work the magic’s in home based job offers. Well the time is now. This has been happening and you shouldn’t be exceptional.

One of the ways you can assimilate is turning you talents into action. The various successful musicians you meet and listen to were once in your position. Three quarters of them never acquired any musical education they have their studios in their homes, write their songs on from their backyards and practise and release the hit songs from their homes. The earnings from interior design business are very tempting. It is simple to start one of your own. If you are good in colours and material selection, it is applicable in any relevant fields. You can however learn about colour matching’s from wheel charts and it will strengthen your participation n the field.

E-bay auctioning has been a short way to learning how to use your website and sell more for your employer. It certainly earns extra money. But this will by far most depend on your participations in the fields. The more you auction on E-bay the more commission you get. The activities of E-bay are similar to affiliate marketing. However in affiliate marketing the notions applied earlier are far more irrelevant. In affiliate you will earn an agreed percentile with the product owner. The terms are usually up to 50% and even more, might be your acquisition in this case.

Easy ways to make money are not steps that should left unauthorised on what to do. Get a deal, various offering are available online who will design the web page for that individual or the company. If the offer is good, find someone who can do the job say half price and deliver the work to you supplier. You have the right skills, turn them into action, and just because you have retired do not mean you cannot couch on office etiquette, discipline or 30 ways to earn in 30 steps. Beside with no experience start to work as a firm boy, it has little to be done, just some grass maintenance and car washing. This home based job offer has no qualification offers, go get extra bucks.

These business skills are ideally so simple to land an opportunity at, say visual assistance. Many starting firm cannot hire secretaries and other staffs. They need to balance resource and expenditure. They want these services from home based employees. The good news is you can assimilate an application and receive these simple standing offers at agreed fee. Home based business ideas, say for the case of picking phone calls, it is the easiest receptionist job to do while at home.

—————————————————-
*And now I would like to share with you a new business idea on “How You Can Turn Business Cards Into $5000 A Month For The Rest Of Your Life.” See how easy it is to turn ordinary business cards you have lying around the house into real cash. Click Here: http://small-home-business-opportunity.com .

EasyPublish this article: http://submityourarticle.com/articles/easypublish.php?art_id=268392

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15.05.2012

Convertible Note Seed Financings: Econ 101 For Founders

posted by desoit

in editorial

tumblr_lxjblvqFzn1qk5vtbWhat Is a Conversion Discount? In the context of a seed financing, a convertible note is a loan that typically automatically converts into shares of preferred stock upon the closing of a Series A round of financing. ?A conversion discount (or ?discount?) is a mechanism to reward the noteholders for their investment risk by granting to them the right to convert the amount of the loan, plus interest, at a reduced price (in percentage terms) to the purchase price paid by the Series A investors. In other words, the founders are saying to the investors, in effect, if you take this risk and give us money today, we?ll reward you by giving you ?20% off? at our Series A round down the road (20% being the usual discount, as discussed below). ?For example, if the investors in a $500,000 convertible note seed financing were granted a discount of 20%, and the price per share of the Series A Preferred Stock were $1.00, the noteholders would convert the loan at an effective price (referred to as the ?conversion price?) of $0.80 per share and thus receive 625,000 shares ($500,000 divided by $0.80), which is 125,000 shares more than a Series A investor would receive for its $500,000 investment and a 1.25x return on paper ($625,000 divided by $500,000). ?(The foregoing example does not include accrued interest on the loan, which is typically about 5%-7% annually, as discussed below.)

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