Posts Tagged ‘Facebook’

Social Media Log-InCollege seniors around the country breathed a collective sigh of relief last week when the U.S. Senate decided not to advance the new Cyber Intelligence Sharing and Protection Act, also known as CISPA.  A new clause in the bill recently passed by the U.S. House of Representatives would have allowed businesses and the U.S. Government full access to individuals’ personal social media pages as a way to crackdown on cybercrime.

While this particular version of the bill is now considered dead, legislators are re-writing a similar version that could be more protective of citizen privacy.  But if and when a version of this does get passed, professionals nationwide have some serious self-reflection to do.

For many, professional accomplishments are often prioritized ahead of other life goals such as when to start a family or at what age to retire.  So just imagine what will become of us if one of the few places we truly express our personality, our personal social media pages, can now be considered an extension of one’s resume.  Will we be forced to permanently keep our personal pages business-casual?

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The Week Unpeeled

Government leaders, thought leaders and media scribes have been busy convening a lot lately with US presidents in Texas making an appearance for the opening of the George Bush library (with US media commenting how Hillary Clinton looked so presidential herself); the World Bank and IMF finishing its round of huddles (amid talk of less austerity more growth); White House correspondents red-carpeting annual dinner in Washington (boycotted by Tom Brokaw who says it’s more about celebrity than news, and President Obama saying he will be opening the Blame Bush Library soon), and the Milken Global Conference kicking off this week in Beverly Hills.

Elsewhere, less convening, more real headlines:

  • Boston marathon alleged bomber search found evidence of plans for a second attack in Times Square;
  • Washington is confronting allegations that Syria appears to have used chemical weapons, which Obama said would “change his calculus” but many seem unsure what that really means;
  • The AP Twitter account was hacked with a Tweet of White House terrorist attack, briefing sending markets sharply lower;
  • Koch brothers of libertarian bent made headlines in their exploratory bid for a group of newspapers that include The Chicago Tribune and The Los Angeles Times;
  • Apple increased its return of cash to shareholders by $55 billion to about $100 billion over three years;
  • The UK economy narrowly missed a third recessionary dip with slight signs of growth;
  • Nasdaq OMX is expected to pay $10 million to US regulators for botched Facebook listing (separately $62 million expected to go to brokers); and
  • The Dow ended the week slightly higher at 14,703. End of Story
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The Week Unpeeled

The jobs picture turned a little sour last week with growth well below expectations because of a non-farm number at only 88,000 and an unemployment rate down to 7.6 percent in March, mostly because of folks leaving the workforce. That put a damper on the market, which has been on a tear.  The Dow ended pretty much unchanged for the week at 14,565, and other indicators were mixed, reflecting the divergent opinions on the direction of the economy and outlook for this rally.  In other markets, bonds continued to show signs of weakness with the closely watched “Agg” or Barclay’s US Aggregate Bond Index declining 0.12 percent in the first quarter, its first decline for that period (WSJ, Apr 3) in about seven years.

Elsewhere:

  • The SEC “blessed” the use of social media for corporate America to announce market-moving news (Warren Buffett’s BusinessWire opted not to “like” by objecting to the decision, no surprise really because it can make those dissemination services obsolete);
  • North Korea continued its bully tactics asking embassies to prepare evacuation plans;
  • Apple CEO Tim Cook used the apologia app and said sorry to China for certain customer service policies;
  • Facebook released what seems to be a super phone app called Home for Google’s Android operating system;
  • Developing signs of bird flu in China started to make headlines;
  • Roger Ebert, famed movie critic of thumbs up or down, died; and
  • Jay-Z, ever-morphing, this time into sports agentEnd of Story
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SEC & Social Media

Let’s not get too excited just yet over the SEC’s decision to allow public companies to utilize social media as a primary source for disclosure, provided they disclose to investors which platforms they intend to employ.

While I join many others and readily agree that social media will become an increasingly important and prominent part of disclosure, the SEC’s half response to a slew of recent high-profile social media disclosure test cases, e.g. Netflix, is actually a step back for Reg FD.

Remember, Reg FD was created to provide a level playing field so that all investors, ranging from small retail to large institutions (and everyone in between) would be provided information simultaneously and through a platform that was readily accessible to all.

My concern for the SEC’s announcement yesterday resides with what constitutes accessible platforms. When Reg FD first came about, the approved disclosure platforms were fairly obvious: press releases, national newspapers, broadcast television, radio, etc., and the burgeoning Internet, which over time has increasingly been given prominence, especially in 2008 when corporate websites were deemed to constitute disclosure.

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fbdoctor

We might not realize it because of how it has become a fixture in our lives, but the way we engage with Facebook can have a profound impact on our social wellness. Here’s a deep dive into the effects and authenticity of Facebook, how much is facade and what’s more, what we might unconsciously be revealing through our posts.

Think about this: If you had to be surrounded by models and superstars all day, do you think you would pay more attention to your physique and fashion? Flipping through your friends’ Facebook photos can have the same impact. Despite being a community of everyday people you know, when is the last time you posted a not-so-flattering photo of yourself as your profile picture? Probably never and this is understandable.

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