DealBook: As Losses Mount, R.B.S. Unveils Plan to Sell Assets

LONDON – The Royal Bank of Scotland, hammered by losses, announced plans on Thursday to sell assets and pare back its investment banking business, in an effort to appease regulators and its biggest shareholder, the British government.

R.B.S. said it planned to sell a stake in the Citizens Financial Group, the American lender it bought in 1988, through an initial public offering in two years. The bank will also continue to reduce its investment banking operations, with plans to cut risky assets and eliminate jobs.

The moves are designed to help bolster the bank’s capital levels and refocus its operations, part of a multiyear turnaround effort initiated by its chief executive, Stephen Hester. In the end, R.B.S. will emerge a much smaller bank, largely focused on Britain.

“R.B.S. is four years into its recovery plan,” Mr. Hester said in a statement, “and good progress has been made. We are a much smaller, more focused and stronger bank. Our target is for 2013 to be the last big year of restructuring.”

Like many rivals, R.B.S. is struggling with the legacy of the financial crisis and a spate of legal issues. On Thursday, it reported a bigger-than-expected loss, in part tied to its legal troubles.

The bank, in which the British government holds an 82 percent stake after a bailout in 2008, posted a net loss of £5.97 billion ($9 billion) in 2012, much larger than the £2 billion loss recorded in 2011. Analysts had been expecting a loss of £5.1 billion. For the last quarter of 2012, R.B.S. reported a £2.6 billion loss, up from a £1.8 billion loss in the period a year earlier.

The rising losses reflect the bank’s regulatory and legal problems.

R.B.S. said on Thursday that it had set aside an additional £1.1 billion to compensate clients to which it improperly sold insurance products, bringing the total provision to £2.2 billion. It also estimated it would have to pay £700 million to compensate small businesses to which it improperly sold some interest-rate hedging products.

The bank agreed this year to pay $612 million to British and American authorities to settle accusations of rate-rigging. Since then, Mr. Hester has promised to tighten controls at the bank to limit the risk of future rate manipulation.

The head of R.B.S.’s investment banking division, John Hourican, resigned at the beginning of February as a result of the scandal related to manipulating the London interbank offered rate, or Libor. The bank plans to pay its fine with money clawed back from bonuses.

‘‘Along with the rest of the banking industry we faced significant reputational challenges,’’ Mr. Hester said in the statement. ‘‘We are determined to overcome the cultural and reputational baggage of precrisis times with the same focus we have applied to the financial cleanup from that era.’’

Eager to get back some of the £45.5 billion it invested in R.B.S., the British government recently increased pressure on the bank’s management to speed up the reorganization.

Some analysts said the government could start selling parts of its investment in the bank, even at a loss, before the next general election, which is set for 2015. R.B.S.’s shares are still trading at about half what the government paid for them in 2008. Some lawmakers said they would favor handing out shares to the public instead of a possible sale of the stake on the open market.

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said there were signs that Mr. Hester’s efforts to turn around the bank had started to pay off, but that “the ongoing absence of a dividend and overhang of the government stake are negatives which need to be resolved.”

Read More..

The New Old Age Blog: For the Elderly, Lists of Tests to Avoid

The Choosing Wisely campaign, an initiative by the American Board of Internal Medicine Foundation in partnership with Consumer Reports, kicked off last spring. It is an attempt to alert both doctors and patients to problematic and commonly overused medical tests, procedures and treatments.

It took an elegantly simple approach: By working through professional organizations representing medical specialties, Choosing Wisely asked doctors to identify “Five Things Physicians and Patients Should Question.”

The idea was that doctors and their patients could agree on tests and treatments that are supported by evidence, that don’t duplicate what others do, that are “truly necessary” and “free from harm” — and avoid the rest.

Among the 18 new lists released last week are recommendations from geriatricians and palliative care specialists, which may be of particular interest to New Old Age readers. I’ve previously written about a number of these warnings, but it’s helpful to have them in single, strongly worded documents.

The winners — or perhaps, losers?

Both the American Geriatrics Society and the American Academy of Hospice and Palliative Medicine agreed on one major “don’t.” Topping both lists was an admonition against feeding tubes for people with advanced dementia.

“This is not news; the data’s been out for at least 15 years,” said Sei Lee, a geriatrician at the University of California, San Francisco, and a member of the working group that narrowed more than 100 recommendations down to five. Feeding tubes don’t prevent aspiration pneumonia or prolong dementia patients’ lives, the research shows, but they do exacerbate bedsores and cause such distress that people often try to pull them out and wind up in restraints. The doctors recommended hand-feeding dementia patients instead.

The geriatricians’ list goes on to warn against the routine prescribing of antipsychotic medications for dementia patients who become aggressive or disruptive. Though drugs like Haldol, Risperdal and Zyprexa remain widely used, “all of these have been shown to increase the risk of stroke and cardiovascular death,” Dr. Lee said. They should be last resorts, after behavioral interventions.

The other questionable tests and treatments:

No. 3: Prescribing medications to achieve “tight glycemic control” (defined as below 7.5 on the A1c test) in elderly diabetics, who need to control their blood sugar, but not as strictly as younger patients.

No. 4: Turning to sleeping pills as the first choice for older people who suffer from agitation, delirium or insomnia. Xanax, Ativan, Valium, Ambien, Lunesta — “they don’t magically disappear from your body when you wake up in the morning,” Dr. Lee said. They continue to slow reaction times, resulting in falls and auto accidents. Other sleep therapies are preferable.

No. 5: Prescribing antibiotics when tests indicate a urinary tract infection, but the patient has no discomfort or other symptoms. Many older people have bacteria in their bladders but don’t suffer ill effects; repeated use of antibiotics just causes drug resistance, leaving them vulnerable to more dangerous infections. “Treat the patient, not the lab test,” Dr. Lee said.

The palliative care doctors’ Five Things list cautions against delaying palliative care, which can relieve pain and control symptoms even as patients pursue treatments for their diseases.

It also urges discussion about deactivating implantable cardioverter-defibrillators, or ICDs, in patients with irreversible diseases. “Being shocked is like being kicked in the chest by a mule,” said Eric Widera, a palliative care specialist at the San Francisco V.A. Medical Center who served on the American Academy of Hospice and Palliative Medicine working group. “As someone gets close to the end of life, these ICDs can’t prolong life and they cause a lot of pain.”

Turning the devices off — an option many patients don’t realize they have — requires simple computer reprogramming or a magnet, not the surgery that installed them in the first place.

The palliative care doctors also pointed out that patients suffering pain as cancer spreads to their bones get as much relief, the evidence shows, from a single dose of radiation than from 10 daily doses that require travel to hospitals or treatment centers.

Finally, their list warned that topical gels widely used by hospice staffs to control nausea do not work because they aren’t absorbed through the skin. “We have lots of other ways to give anti-nausea drugs,” Dr. Widera said.

You can read all the Five Things lists (more are coming later this year), and the Consumer Reports publications that do a good job of translating them, on the Choosing Wisely Web site.

---

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

Read More..

The New Old Age Blog: For the Elderly, Lists of Tests to Avoid

The Choosing Wisely campaign, an initiative by the American Board of Internal Medicine Foundation in partnership with Consumer Reports, kicked off last spring. It is an attempt to alert both doctors and patients to problematic and commonly overused medical tests, procedures and treatments.

It took an elegantly simple approach: By working through professional organizations representing medical specialties, Choosing Wisely asked doctors to identify “Five Things Physicians and Patients Should Question.”

The idea was that doctors and their patients could agree on tests and treatments that are supported by evidence, that don’t duplicate what others do, that are “truly necessary” and “free from harm” — and avoid the rest.

Among the 18 new lists released last week are recommendations from geriatricians and palliative care specialists, which may be of particular interest to New Old Age readers. I’ve previously written about a number of these warnings, but it’s helpful to have them in single, strongly worded documents.

The winners — or perhaps, losers?

Both the American Geriatrics Society and the American Academy of Hospice and Palliative Medicine agreed on one major “don’t.” Topping both lists was an admonition against feeding tubes for people with advanced dementia.

“This is not news; the data’s been out for at least 15 years,” said Sei Lee, a geriatrician at the University of California, San Francisco, and a member of the working group that narrowed more than 100 recommendations down to five. Feeding tubes don’t prevent aspiration pneumonia or prolong dementia patients’ lives, the research shows, but they do exacerbate bedsores and cause such distress that people often try to pull them out and wind up in restraints. The doctors recommended hand-feeding dementia patients instead.

The geriatricians’ list goes on to warn against the routine prescribing of antipsychotic medications for dementia patients who become aggressive or disruptive. Though drugs like Haldol, Risperdal and Zyprexa remain widely used, “all of these have been shown to increase the risk of stroke and cardiovascular death,” Dr. Lee said. They should be last resorts, after behavioral interventions.

The other questionable tests and treatments:

No. 3: Prescribing medications to achieve “tight glycemic control” (defined as below 7.5 on the A1c test) in elderly diabetics, who need to control their blood sugar, but not as strictly as younger patients.

No. 4: Turning to sleeping pills as the first choice for older people who suffer from agitation, delirium or insomnia. Xanax, Ativan, Valium, Ambien, Lunesta — “they don’t magically disappear from your body when you wake up in the morning,” Dr. Lee said. They continue to slow reaction times, resulting in falls and auto accidents. Other sleep therapies are preferable.

No. 5: Prescribing antibiotics when tests indicate a urinary tract infection, but the patient has no discomfort or other symptoms. Many older people have bacteria in their bladders but don’t suffer ill effects; repeated use of antibiotics just causes drug resistance, leaving them vulnerable to more dangerous infections. “Treat the patient, not the lab test,” Dr. Lee said.

The palliative care doctors’ Five Things list cautions against delaying palliative care, which can relieve pain and control symptoms even as patients pursue treatments for their diseases.

It also urges discussion about deactivating implantable cardioverter-defibrillators, or ICDs, in patients with irreversible diseases. “Being shocked is like being kicked in the chest by a mule,” said Eric Widera, a palliative care specialist at the San Francisco V.A. Medical Center who served on the American Academy of Hospice and Palliative Medicine working group. “As someone gets close to the end of life, these ICDs can’t prolong life and they cause a lot of pain.”

Turning the devices off — an option many patients don’t realize they have — requires simple computer reprogramming or a magnet, not the surgery that installed them in the first place.

The palliative care doctors also pointed out that patients suffering pain as cancer spreads to their bones get as much relief, the evidence shows, from a single dose of radiation than from 10 daily doses that require travel to hospitals or treatment centers.

Finally, their list warned that topical gels widely used by hospice staffs to control nausea do not work because they aren’t absorbed through the skin. “We have lots of other ways to give anti-nausea drugs,” Dr. Widera said.

You can read all the Five Things lists (more are coming later this year), and the Consumer Reports publications that do a good job of translating them, on the Choosing Wisely Web site.

---

Paula Span is the author of “When the Time Comes: Families With Aging Parents Share Their Struggles and Solutions.”

Read More..

Gadgetwise Blog: Tip of the Week: Clean Your Phone and Its Camera

Smartphones spend a lot of time in hand, where they can pick up germs and dirt. Wiping down the phone regularly with an antibacterial cloth intended for use with touch screens can help keep it clean. Many office supply stores like Staples or Office Depot carry disposable wipes for use on phone and tablet screens.

If your phone has a camera and your photos have been looking blurry, you can clean its lens with a microfiber cloth or other wipe for use with camera lenses; a cotton swab moistened with distilled water can also take off stubborn grime. Whatever you do, though, do not spray the phone with industrial cleansers or use cleaning wipes designed for household chores, because these can damage the screen and other parts of the handset.

Read More..

IHT Rendezvous: Q and A: Keeping ‘A Chorus Line’ in Step

LONDON — For a musical that’s all about dancers, there’s not a huge amount of dancing in “A Chorus Line,” which opened last week at the London Palladium — the first West End revival of the musical since it opened here in 1976, a year after its smash-hit debut on Broadway.

But the most dance-intensive moments are fundamental to our very idea of “A Chorus Line”: the “Aaaah-5-6-7-8!” that unleashes the explosion of movement with which the musical opens, and the slow sideways-moving line of gold-clad top-hatted dancers with which it closes. In between those moments is the meat of the show; the passage from anonymity as the dancers begin the audition, to individuality as they tell their stories — and then back again, to an impersonal line of identically dressed, identically moving performers.

On opening night at the Palladium, the audience greeted those first moments with a roaring cheer, a salute to the love-story that “A Chorus Line” tells — not between its characters, but between them and showbiz. The choreography may look stylized, but it doesn’t really matter. Watching, we are both in 1975 (as the opening projection tells us) and in 2013; leotard and dance styles might have changed, but the desire to be on Broadway has not.

Michael Bennett, who conceived of the show, choreographed and directed it, died in 1987, and it is his co-choreographer, Bob Avian, who has been responsible for directing the major “Chorus Line” revivals since.

So how much does the dance (and the dancing) matter in “A Chorus Line”? Two days after the London opening — greeted by a positive storm of approval by the critics — Mr. Avian flew to Fort Lauderdale, Florida, for a well-earned rest after several months of putting the musical together in London. Speaking by telephone, he discussed the choreography, his approach to staging the work, and why “A Chorus Line” still speaks to a contemporary audience.

Q.

How did you and Michael Bennett approach the choreography? Is the opening number really the kind of routine you would have asked an audition group to do?

A.

Michael and I were a good team, because he was a jazz dancer, and my training was classical. Between us we came up with a lot of choreography that was more integrated. A lot of it was based on dance crazes of the time — disco, the toe-heel-heel, the body shifts that go along with that. We pulled on elements of popular dancing as we were doing it; we were children of our times, dance-wise. There’s actually not much contemporary dance in there; there is ballet, typical broadway and tap. The only jazz combos are in the opening sequence and the montage sections.

Q.

Did you initially think it would be more of a dance show?

A.

Well, it was a very slow process and I’m not sure we had an idea of how it would be. We had the original tapes of the stories from our dancers and once we decided to put those stories in the framework of an audition, we were able to construct the piece. But it took us a very long time. We did four workshops, which no one did in those days — we were the first ones ever to do it. The montage, which is 22 minutes, took us six weeks. You wouldn’t be able to do that today, it would be too expensive.

Q.

Is the routine we see at the beginning a realistic idea of what you might see at a Broadway audition today?

A.

A dance call is still pretty much the same. When we have an open call, you might get 700 people. We divide them into groups of 10 and make them all do double pirouettes — you can immediately see people’s training. We keep 2 or 3 people from each group, then we teach them the opening combination, a shortened version, then the full one, then the ballet combination. You get a feel for their jazz style, and the ballet combination is very revealing in terms of technique.

Q.

Are you strict about remaining faithful to the original choreography? Do you adapt to different dancers or, perhaps, a more contemporary style of dancing today?

A.

The ensemble stuff is set in stone, but with the solo work, we are very open. For Cassie’s dance, for instance, we try to pull on the strengths of the dancer performing the role. If she has a great extension, or very supple back, we make tons of adjustments along the way. In structure it’s still the same, because it’s about the music and the storytelling — it’s about narcissism, about the need to have her gifts recognized.

In the individual stuff, the staging of the songs, I make adjustments all the time. At the beginning of the rehearsal process, I just let them do the number and see what they will bring to it. In that way, I suppose it becomes more contemporary because they are performers of today.

Q.

Have the technical capacities of dancers changed since you first staged the musical in 1975?

A.

Undoubtedly. The quality of the dancing is much higher than it was when we made it. Also, then you still had a singing chorus, or a dancing chorus; it was hard to get people who could do everything really well, and now that is the norm.

It’s still hard to get a woman who can do Cassie’s big song-and-dance solo; we’ve had performers who are great dancers, but can’t really sing it. It’s a very difficult song and you need a lot of stamina. But every time I return to the show, the caliber is higher in general.

Q.

Is there a difference between the U.S. and the U.K in the quality of musical theater performers, given that there is more of a conventional theater tradition here?

A.

Not essentially. They were perhaps a little behind America in the past, but that’s mostly to do with the fact that we pull from a population that is so much bigger — it’s a numbers thing. But now they have the same all-around training, and they are fully the equals of U.S. performers. In fact, I think this London cast is the finest company we’ve had in 35 years. Every time I do “Chorus Line,” I think, not again! But this was all pleasure.

Q.

The audience was beyond rapturous at the performance I attended. Why do you think people identify so strongly with “A Chorus Line”?

A.

I think it speaks to everyone because it’s really about people on an assembly line. They are not stars, and they aren’t trying to be stars — they are trying to succeed in essentially a humble way. And the musical talks about things that weren’t discussed on Broadway before: homosexuality, plastic surgery, angry or troubled or loving relationships with parents. Even though much has changed socially since we made it, those issues don’t go away.

Read More..

Little Movement on Wall Street

Wall Street stocks opened little changed on Wednesday as investors awaited a second round of testimony in Congress by the Federal Reserve chairman, Ben S. Bernanke, for clarity on the longevity of the Fed’s economic stimulus program.

The Standard & Poor’s 500-stock index added 0.2 percent, the Dow Jones industrial average rose 0.2 percent and the Nasdaq composite index was flat in morning trading.

“Of course, Bernanke is in the spotlight again but I don’t expect him to vary from his comments from yesterday,” said Peter Cardillo, chief market economist at Rockwell Global Capital in New York.

A day earlier, Mr. Bernanke strongly defended the Fed’s monetary stimulus efforts before Congress, easing financial market worries over an early retreat from the Fed’s bond buying program, which had been triggered by minutes of the Fed’s January meeting released a week ago.

His remarks, along with data showing sales of new homes hit a four and a half year high, helped Wall Street stocks rebound Tuesday from their worst decline since November.

Despite the bounce, the benchmark S.&P. 500 was unable to move back above 1,500, a closely watched level that may prove to be a resistance point.

Up 6 percent for the year, the S.&P. 500 was within reach of record highs a week ago, before the minutes from the Fed’s January meeting were released. Since then, the index has shed 1 percent.

In earnings news, Target posted a lower quarterly profit as sales of food and value-priced items only partially mitigated weakness in holiday spending. The stock fell 1.7 percent.

Dollar Tree reported a higher quarterly profit as the chain controlled costs and as consumer spending improved. The stock rose 4.5 percent.

In Europe, shares rose, steadying after the previous session’s sharp losses, though jitters over the euro zone kept a lid on gains.

Italy’s 10-year debt costs rose more than half a percentage point at the first longer-term auction since an inconclusive parliamentary election, although they remained below the psychologically important level of 5 percent.

Read More..

Global Health: After Measles Success, Rwanda to Get Rubella Vaccine

Rwanda has been so successful at fighting measles that next month it will be the first country to get donor support to move to the next stage — fighting rubella too.

On March 11, it will hold a nationwide three-day vaccination campaign with a combined measles-rubella vaccine, hoping to reach nearly five million children up to age 14. It will then integrate the dual vaccine into its national health service.

Rwanda can do so “because they’ve done such a good job on measles,” said Christine McNab, a spokeswoman for the Measles and Rubella Initiative. M.R.I. helped pay for previous vaccination campaigns in the country and the GAVI Alliance is helping financing the upcoming one.

Rubella, also called German measles, causes a rash that is very similar to the measles rash, making it hard for health workers to tell the difference.

Rubella is generally mild, even in children, but in pregnant women, it can kill the fetus or cause serious birth defects, including blindness, deafness, mental retardation and chronic heart damage.

Ms. McNab said that Rwanda had proved that it can suppress measles and identify rubella, and it would benefit from the newer, more expensive vaccine.

The dual vaccine costs twice as much — 52 cents a dose at Unicef prices, compared with 24 cents for measles alone. (The MMR vaccine that American children get, which also contains a vaccine against mumps, costs Unicef $1.)

More than 90 percent of Rwandan children now are vaccinated twice against measles, and cases have been near zero since 2007.

The tiny country, which was convulsed by Hutu-Tutsi genocide in 1994, is now leading the way in Africa in delivering medical care to its citizens, Ms. McNab said. Three years ago, it was the first African country to introduce shots against human papilloma virus, or HPV, which causes cervical cancer.

In wealthy countries, measles kills a small number of children — usually those whose parents decline vaccination. But in poor countries, measles is a major killer of malnourished infants. Around the world, the initiative estimates, about 158,000 children die of it each year, or about 430 a day.

Every year, an estimated 112,000 children, mostly in Africa, South Asia and the Pacific islands, are born with handicaps caused by their mothers’ rubella infection.

Thanks in part to the initiative — which until last year was known just as the Measles Initiative — measles deaths among children have declined 71 percent since 2000. The initiative is a partnership of many health agencies, vaccine companies, donors and others, but is led by the American Red Cross, the United Nations Foundation, the Centers for Disease Control and Prevention, Unicef and the World Health Organization.

This article has been revised to reflect the following correction:

Correction: February 27, 2013

An earlier version of this article misstated the source of the financing for the upcoming vaccination campaign in Rwanda. It is being financed by the GAVI Alliance, not the Measles and Rubella Initiative.

Read More..

Global Health: After Measles Success, Rwanda to Get Rubella Vaccine

Rwanda has been so successful at fighting measles that next month it will be the first country to get donor support to move to the next stage — fighting rubella too.

On March 11, it will hold a nationwide three-day vaccination campaign with a combined measles-rubella vaccine, hoping to reach nearly five million children up to age 14. It will then integrate the dual vaccine into its national health service.

Rwanda can do so “because they’ve done such a good job on measles,” said Christine McNab, a spokeswoman for the Measles and Rubella Initiative. M.R.I. helped pay for previous vaccination campaigns in the country and the GAVI Alliance is helping financing the upcoming one.

Rubella, also called German measles, causes a rash that is very similar to the measles rash, making it hard for health workers to tell the difference.

Rubella is generally mild, even in children, but in pregnant women, it can kill the fetus or cause serious birth defects, including blindness, deafness, mental retardation and chronic heart damage.

Ms. McNab said that Rwanda had proved that it can suppress measles and identify rubella, and it would benefit from the newer, more expensive vaccine.

The dual vaccine costs twice as much — 52 cents a dose at Unicef prices, compared with 24 cents for measles alone. (The MMR vaccine that American children get, which also contains a vaccine against mumps, costs Unicef $1.)

More than 90 percent of Rwandan children now are vaccinated twice against measles, and cases have been near zero since 2007.

The tiny country, which was convulsed by Hutu-Tutsi genocide in 1994, is now leading the way in Africa in delivering medical care to its citizens, Ms. McNab said. Three years ago, it was the first African country to introduce shots against human papilloma virus, or HPV, which causes cervical cancer.

In wealthy countries, measles kills a small number of children — usually those whose parents decline vaccination. But in poor countries, measles is a major killer of malnourished infants. Around the world, the initiative estimates, about 158,000 children die of it each year, or about 430 a day.

Every year, an estimated 112,000 children, mostly in Africa, South Asia and the Pacific islands, are born with handicaps caused by their mothers’ rubella infection.

Thanks in part to the initiative — which until last year was known just as the Measles Initiative — measles deaths among children have declined 71 percent since 2000. The initiative is a partnership of many health agencies, vaccine companies, donors and others, but is led by the American Red Cross, the United Nations Foundation, the Centers for Disease Control and Prevention, Unicef and the World Health Organization.

This article has been revised to reflect the following correction:

Correction: February 27, 2013

An earlier version of this article misstated the source of the financing for the upcoming vaccination campaign in Rwanda. It is being financed by the GAVI Alliance, not the Measles and Rubella Initiative.

Read More..

Bits Blog: Yahoo Issues a Statement on Work-at-Home Ban

In a front-page article in The New York Times on Tuesday morning, Catherine Rampell and I wrote about Yahoo‘s new policy banning employees from working remotely. The company declined to comment for that article, but on Tuesday afternoon, it issued a statement about the ban against work-at-home arrangements.

“This isn’t a broad industry view on working from home,” the statement said. “This is about what is right for Yahoo right now.”

A company spokeswoman declined to elaborate on the statement, saying, “We don’t discuss internal matters.”

But based on information from several Yahoo employees, what that statement means is that Marissa Mayer, Yahoo’s new chief executive, is in crisis mode, and she believes the policy is necessary to get Yahoo back into shape.

The employees spoke anonymously because they are not allowed to discuss internal matters.

The company also seems to be trying to distance itself from the broader national debate over workplace flexibility, and from criticism that the new policy is disruptive for employees who have family responsibilities outside work.

The work ethic at Yahoo among some workers has deteriorated over time, the Yahoo employees said, and requiring people to show up is a way to keep an eye on them and re-energize the troops. If some of the least productive workers leave as a result, the thinking goes, all the better.

Some employees have abused the former policy permitting work at home to the point of founding start-ups while being on salary at Yahoo, said the Yahoo employees and others who have worked at the company.

Several business analysts said that if work-at-home arrangements don’t work, it is generally a management problem.

Yahoo’s culture and employee morale have dissolved as it has fallen behind hotter tech companies. And, business analysts say, those are two things that are difficult to repair without having employees present in the same place.

Still, Ms. Mayer has said many times that one of her top priorities for the company is to recruit the most talented engineers and other employees. Even if requiring people to show up is the only way to repair Yahoo’s culture, it could result in losing valuable employees.

And even if Yahoo’s broader work-at-home policy needed revision, the internal memo announcing the new policy struck some as tone-deaf by implying that employees should avoid staying at home even once in a while when there are extenuating circumstances.

“For the rest of us who occasionally have to stay home for the cable guy, please use your best judgment in the spirit of collaboration,” it said.

Read More..

India Ink: ‘Hole in the Wall’ Wins Indian Educator $1 Million TED Prize

Sugata Mitra, an Indian education innovator, was awarded the first $1 million TED Prize for what the global organization called his “innovative and bold efforts towards advancing learning for children.”

“Sugata and his colleagues carried out experiments for over 13 years on the nature of self-organized learning, its extent, how it works and the role of adults in encouraging it,” said TED, which announced the award at its influential annual conference of ideas in Long Beach, California, on Tuesday.

Mr. Mitra, along with his colleagues, dug a hole in a wall bordering a slum in New Delhi in 1999, installed a computer connected to the Internet and left it there, to demonstrate how kids can learn almost anything by themselves. He has spoken frequently on the need to improve the way children are educated.

Mr. Mitra said in a statement posted on the TED Web site that he would use the prize money to build the “School in the Cloud,” a learning lab in India, where children can engage with information and mentors online.

“My wish is to help design the future of learning by supporting children all over the world to tap into their innate sense of wonder and work together,” he said.

“Our current definition of education is to produce individuals who can fit into a bureaucratic machine,” Mr. Mitra told Forbes. “The result is a society that creates identical factory workers. The day of the factory is done.”

He has also underscored the power of cloud computing to revamp the way children learn.

In Mr. Mitra’s closing remarks while accepting the TED Prize, he shared an anecdote: “A little girl was following me around. I said, ‘I want to give a computer to everyone,’” recalls Mitra. “She reached out her hand and she said to me, ‘Get on with it.’”

Read More..