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IMF Chief Christine Lagarde Charged With "Negligence" Over Multi-million Dollar Graft Case

Paris (AFP) - IMF chief Christine Lagarde, one of the world's most powerful women, announced Wednesday she had been charged with "negligence" over a multi-million-euro graft case relating to her time as French finance minister.

 

The shock announcement came a day after she was grilled for more than 15 hours by a special court in Paris that probes ministerial misconduct, the fourth time she has been questioned in a case that has long weighed upon her position as managing director of the International Monetary Fund.

Please read more here.

More R&B from Asia - especially for Luther Vandross' fans!

Stanford Professor Maryam Mirzakhani: First Woman to Win the "Nobel Prize" of Mathematics

 

For the first time in history, a woman has received the highest honor in mathematics, often nicknamed the Nobel Prize of mathematics.

Since it was established in 1936, the Fields Medal had gone only to men, until Wednesday, when Maryam Mirzakhani received it in Seoul, South Korea, from the International Mathematical Union.

"This is a great honor. I will be happy if it encourages young female scientists and mathematicians," Mirzakhani said, according to a statement from Stanford University, where she is a professor.

Please read more here.

Michael Jackson: "They Don't Care About Us"

McKinsey Report: Digitizing Oil & Gas Production

 

The authors of a recently published McKinsey report believe further automation can play a major role in addressing the following challenges in the oil and gas industries:

More complex operations. Increasing volume and complexity in hostile, remote locations (for example, arctic, offshore, and deepwater) require reliable remote and automated or semiautomated operations, and logistics optimized for efficiency. Mature assets with declining production need very efficient maintenance schedules to keep production profitable.

Zero tolerance for health, safety, and environmental incidents. This is a nonnegotiable imperative. Recent industry experience has shown that in the current highly regulated environment, such incidents can threaten not only profitability but also the very existence of an operator. Automated production control, monitoring the condition of the equipment, and predictive shutdown systems are now basic requirements to prevent or mitigate catastrophic events in geographically dispersed remote operations.

The talent and experience gap. The industry is in the most dramatic demographic shift in its history, commonly referred to as “the big crew change.” Thousands of petrotechnical professionals will be retiring soon, resulting in a knowledge and experience crisis for the industry. Retention and recruitment are unlikely to fill the gap completely. This development drives efforts to codify many routine analysis and decision-support processes and, where possible, to automate them.

Please read more here and here.

Senior Energy Analyst Job

Eden Scott's client, a financial services company focused on the global energy industry, is looking to recruit a Senior Analyst. Their client is an industry leader in their field and offer a challenging, dynamic and stimulating working environment.

As a Senior Analyst you will be a key player in the firm responsible for acquisition and merger activity.

Please read more here.

Former MIT Dean Gabriel Bitran Pleads Guilty to Running a $500 Million Scam - Connected to Madoff

 

Former Associate Dean at MIT's Sloan School of Management Pleads Guilty in Hedge Fund Scam

A former Massachusetts Institute of Technology professor and his son have agreed to plead guilty (DOJ) to running a $500 million hedge-fund scam that was uncovered by investigators probing Bernard Madoff’s Ponzi scheme.

Gabriel Bitran, who was a chair professor and associate dean at MIT’s Sloan School of Management (VisualCV), and his son, Marco, told investors that their money management firm GMB Capital Management LLC had a successful real world track record, when in fact they simply assembled back data that would show a spectacular track record.

The men, who raised more than $500 million from 2005 to 2011, meanwhile put money into “funds of funds,” (Blm) which rely on investments by other hedge funds, mostly Bernie Madoff’s firm and Madoff feeder funds, according to prosecutors.

The Bitrans’ funds suffered losses of more than $140 million. The professor paid himself and his son as much as $16 million in management fees over the life of the businesses and recovered $12 million of their own investments when the funds were doing poorly, the U.S. said, adding that the two discussed their scheme in e-mail exchanges.

 

Gabriel Bitran was one of my bosses when I taught at the M.I.T. Sloan School of Management. SMH

New York Times: Militarization of America's Police

 

Trading Places: Eddie Murphy Learns the Basics of the Commodities Markets

R.I.P. Actor Robin Williams

 

Robin McLaurin Williams[3][4] (July 21, 1951[5] – August 11, 2014) was an American actor, voice actor, and stand-up comedian. Rising to fame with his role as the alien Mork in the TV series Mork & Mindy (1978-1982), Williams went on to establish a successful career in both stand-up comedy and feature film acting.

 

Mr. Williams' film career included such acclaimed films as 

 

He also appeared in the video to "Don't Worry, Be Happy" by Bobby McFerrinNominated for the Academy Award for Best Actor three times, Williams went on to receive the Academy Award for Best Supporting Actor for his performance in Good Will Hunting (1997). He also received two Emmy Awards, fourGolden Globes, two Screen Actors Guild Awards and five Grammy Awards.[6][7]

Please read more here.

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