The rise of social media has encouraged guru dreams because of the low entry barrier and highly skewed distribution of public attention that characterize social media. The pursuit of guru status, however, may be achieved through information provision or cheap talk, and competition inherent to social media may incentivize participants to either process better information or express more extreme options. Using a unique dataset of blogs covering S&P 1500 stocks over the 2006-2011 period, we find evidence that social media can be informative about future stock returns but that competition distorts opinions rather than encouraging participants to process better information. In particular, competition induces exaggerated negative tones in blogs, which is unrelated to information. Our results suggest that social media may provide mixed incentives for its participants in terms of information efficiency.
An upstate New York shopping mall is threatening to fine retailers about $200 an hour if they fail to open at 6 p.m. on Thanksgiving.
Walden Galleria, a suburban Buffalo retail complex with more than 200 stores, told store managers in a meeting last week that they must open their doors when the shopping center opens on the holiday, or pay penalties specified in leases, 10 managers told The Huffington Post on Tuesday. Waiting until midnight to open may cost stores $1,200 or more.
Struggling to compete with big-box stores and online retailers, shopping malls around the country plan to kick off Black Friday early by opening on Thanksgiving. The malls are trying to keep up with stores like Kmart, Target and Walmart, which have all pushed holiday shopping’s start date to turkey day.
When a police officer draws a firearm he or she often doesn’t have an opportunity to radio for backup.
YardArm, a California-based company, is building technology that will automatically alert headquarters in such situations. The company makes a chip that goes into the handle of a regular firearm and transmits data over a cell-phone network connection. The data transmitted includes the location of a gun and whether it has been unholstered or discharged. The company is also working to track the direction in which a gun is pointing. The data can be fed to a police dispatch system or viewed on a smartphone.
KKR & Co., a private equity firm, has threatened to bar the Iowa Public Employees’ Retirement System from investing in KKR’s funds if the Iowa system complies with a public records request for information on what it is paying KKR in fees.
What is KKR so afraid of? Letting the world know how much it charges?
Even sadder, Iowa’s system is so desperate to remain in KKR’s good graces that its general counsel is backing KKR’s right to keep its fees a secret.
As a large ship moved through the water, a helicopter overhead spotted an unidentified boat approaching and sent a warning to a small fleet of escort boats. Some were armed with loudspeakers, others with flashing lights, another with a .50 caliber machine gun.
Once the fleet zeroed in on the threatening vessel with radar and infrared sensors, some of the escort boats broke away and quickly encircled it. They flashed lights and blasted warnings through loudspeakers. Threat resolved.
All of the escort boats were unmanned—and yet they moved together as a group, thanks to what’s known as “swarm intelligence.”
Two Silicon Valley giants now offer women a game-changing perk: Apple and Facebook will pay for employees to freeze their eggs.
Facebook recently began covering egg freezing, and Apple will start in January, spokespeople for the companies told NBC News. The firms appear to be the first major employers to offer this coverage for non-medical reasons.
When successful, egg freezing allows women to put their fertility on ice, so to speak, until they’re ready to become parents. But the procedure comes at a steep price: Costs typically add up to at least $10,000 for every round, plus $500 or more annually for storage.
With notoriously male-dominated Silicon Valley firms competing to attract top female talent, the coverage may give Apple and Facebook a leg up among the many women who devote key childbearing years to building careers.