NJ Tech Weekly

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  • Should We Regulate Big Data and The Internet of Things? Pederson Asks at NJ Big Data Symposium


    on January 1, 1970 at 12:00 am

     
    At the NJ Big Data Alliance Symposium, which took place March 16 at NJIT, a packed room heard talks on everything ranging from analytics in higher education to the use of big data in smart policing.
    Setting the mood for the event, Jay Pederson, IBM security client executive, asked the question, “Do we need more government regulation of big data and the internet of things?” He left that question out there hanging, as he presented some of the regulations that exist today and some of the data breeches the industry has seen.
    Regulation can bad for business, he said, citing the example of Germany, which has a federal data-protection law that is “unique in the world.” In Germany, citizens have to contact a company to give it permission to collect their data.
    Even if they do give a company their consent, the law imposes some location restrictions. “If I am a German citizen and I agree that you can use my data, that data can’t leave Germany.”
    Pederson noted that this creates lots of problems for financial software and Software-as-a-Service companies, as well as other companies that are building data centers around the world, managing data at scale and operating with razor-thin margins.
    “I’ve worked with some large financial services companies, and some of them are constructing completely separate data centers in Germany.” Clearly, this has an economic impact on the companies, he noted.
    The Problem with the IoT
    The drive across industries to collect data and share it on the IoT has problems associated with it as well. Pederson told the story of a denial-of-service security breach caused by unsecured security cameras. The problem with the IoT, he said, is that it runs on software, and software has flaws and vulnerabilities, “lots of them.”
    This particular security breach allowed bad actors to take down half of the internet last year, he said. It even affected Amazon and Netflix. Pederson said that the folks behind the attack were savvy and had even done a test run,  knocking a popular security blogger’s websitee offline for three months straight. “They wanted to see if the Internet could fix it.” This blogger had several big software security companies come in and try to help, but it took the resources of Google to actually fix the problem, which it managed to do only after several months.
    The scary part of this story, he said, is that manufacturers have no incentive to fix the holes in their software. So many devices such as routers and DVRs can be used by hackers while the owners have no idea what’s going on. Manufacturers simply release new models that are more secure, and they prefer to sell the new models. They’re not interested in updating the older models of their webcams, DVRs and other devices that are buggy and allow hackers in. “It’s not like an iPhone that gets an update every few months.” Since there is no economic reason to fix it, do we regulate it? he asked. […]



  • Phil Murphy Promotes Innovation Agenda at NJ Tech Meetup


    on January 1, 1970 at 12:00 am

     
    On April 17, New Jersey Democratic gubernatorial candidate Phil Murphy dropped by Hoboken-based Pilsener Haus & Biergarten for a “pub-style” Town Hall meeting with members of NJ Tech Meetup.  
    Meetup host/founder Aaron Price was very careful to point out during the meeting that this was neither a “political” event/rally on Murphy’s behalf, nor an explicit or implied endorsement for Murphy’s run for governor.
    During his conversation with Price, Murphy stressed the need to rebuild the state’s infrastructure, while simultaneously reinvigorating the innovation economy.
    Discussing the importance of education, Murphy noted that he wants to greatly expand the STEM (science, technology, engineering and mathematics) curriculum and proactively promote these subjects in public schools.
    One alarming statistic he provided supported the claim that New Jersey is lagging significantly behind many other states in venture capital investments: While investments have doubled elsewhere across the U.S. during the past seven years, VC investment in the Garden State has dropped a whopping 40 percent.
    Murphy was quick to acknowledge regional success stories in pockets around New Jersey — with Hudson County booming, life sciences doing well around the state and companies like Bell Labs remaining at the forefront of innovation. On the other hand, he noted that Atlantic County is suffering from the serious problems affecting Atlantic City.
    There is plenty more to be accomplished, according to Murphy. A college education must become more affordable for students. He cited a derogatory ad for the University of Maine that he had recently spotted on a highway billboard, and that angered him and others he spoke with: The punchline was that Maine’s out-of-state tuition was in fact cheaper than New Jersey’s in-state tuition.
    The New Jersey state primaries are slated for June 6, with the election taking place on Tuesday, November 7. Six candidates have officially declared their runs in the Republican primary, including the incumbent lieutenant governor, Kim Guadagno. Governor Chris Christie is ineligible for reelection due to term limits legislation.
    Murphy is one of a half-dozen Democrats who have officially thrown their hats into the ring for their party’s endorsement and the right to be placed on the ballot in November.
    Much of the fireside chat centered on the candidate’s contention that the current governor and his administration have been severely lacking in leadership. “The state of New Jersey is one of the singular most undermanaged things I’ve ever seen. It isn’t growing and it isn’t fair, said Murphy.”
    In his view, the Christie administration has made very few attempts to fix the state’s inherent problems. This was clearly a failed opportunity, he said, but the next governor will have the opportunity to right many of the past wrongs.
    “The next governor of this state must have a thick skin and have the requisite political capital in order to get elected and ultimately do a good job once in office,” he said.
    Murphy has previously served as U.S. ambassador to Germany and was also a senior executive at the prestigious investment banking firm Goldman Sachs. He retired from there in 2003 as head of their investment management division.
    Although he has yet to be elected into public office, Murphy has is no stranger to the helping others get elected. Between 2006 and 2009, he served as national finance chairman of the Democratic National Committee beside former Vermont Governor and DNC Chairman Howard Dean. During that time, Murphy raised a very respectable $300 million to help implement the "Fifty State Strategy" that won Congress for Democrats 2006.
    Another point Murphy hammered home during the fireside chat was that the next governor must figure out ways to capitalize on New Jersey’s being perhaps the nation’s most diverse state, as well as the most densely populated.
    If he’s elected, Murphy’s ultimate goal will be to stress that, although the cost of living in the state is never going to vie for the country’s lowest, New Jersey should still be promoted as a good bargain for residents. Along the way, he plans to expand job growth, with a view to generating more tax revenue and improving New Jersey’s fiscal standing.
    During the event, Price spoke about the Propelify festival, which will be held on May 18 in Hoboken (rain date: May 19) along the waterfront on Frank Sinatra Drive. Attendees from across the Northeast and around the world will be there to promote innovation, education and fun.
    Over 40 speakers will be on hand on two stages throughout the day. There will also be investor speed dating and numerous exhibitors with booths promoting their businesses. Last year’s inaugural edition was a huge success, attracting 8,000-plus attendees. Visit www.propelify.com for advance tickets and additional information on the full day’s festivities.  --------------------------------------------------------------------------------------------
    About Rob Rinderman – Rob is President of SMC Consulting , a strategic marketing, communications and business development advisory. […]



  • NJ TECH CORNER: ADP


    on January 1, 1970 at 12:00 am

      
    Company Overview 
    ADP (NASDAQ: ADP)  is a comprehensive global provider of cloud-based Human Capital Management (HCM) solutions that unite human resources, payroll, talent, time, tax and benefits administration, and a provider of business outsourcing services, analytics and compliance expertise. Its experience, insights, and technology have transformed human resources from a back-office administrative function to a strategic business advantage.Founded in 1949.the Roseland-based company has more than 650,000 clients worldwide and a global workforce of 56,700 employees.
     
    Investment & Financial Information
     

    Shares of common stock outstanding (as of Sept. 9, 2016):

    454,375,205

    Share price of stock (as of April 21, 2017)

    $102.69

    Share price of stock (one year ago)

    $  89.35

    Current valuation (as of April 21, 2017)

    $  46.66 billion

    Valuation one year ago

    $  41.57 billion

    Stock Symbol:

    NASDAQ:ADP

    Net Revenues (6/30/16)

    $11.67 billion

    Net Revenues previous year

    $10.94 billion

    Net Income(6/30/16)

    $1.493 billion

    Net Income previous year:

    $1.453 billion

     
    Management Team
      

    Name

    Age

    Title

    John Ayala

    49

    President, major account services and ADP Canada

    Maria Black

    42

    President, small business solutions and human resources outsourcing

    Michael A. Bonarti

    50

    Corporate vice president, general counsel, secretary

    Deborah L. Dyson

    50

    Corporate vice president, client experiences and continuous improvement

    Edward B. Flynn, III

    56

    President, global enterprise solutions

    Dermot J. O’Brien

    50

    Chief human resources officer

    Thomas Perrotti

    47

    President, worldwide sales and marketing

    Douglas Politi

    54

    President, added value services

    Carlos A. Rodriguez

    52

    President and CEO

    Stuart Sackman

    55

    Corporate vice president, global product and technology

    Jan Siegmund

    52

    Corporate vice president and CFO

    Donald Weinstein

    47

    Chief strategy officer

     
     
    Board of Directors
     

    Name

    Age

    Title

    Peter Bisson

    59

    Retired director and global leader of McKinsey & Co.’s high-tech practice

    Richard T. Clark

    70

    Retired chairman, CEO, Merck & Co. Inc.

    Eric C. Fast

    67

    Retired CEO, Crane Co.

    Linda R. Gooden

    63

    Retired executive vice president, Lockheed Martin Corporation Information Systems & Global Solutions

    Michael Gregoire

    50

    CEO, director, CA Technologies

    R. Glenn Hubbard

    58

    Dean, Columbia University Graduate School of Business

    John P. Jones

    65

    Chairman of the board, retired chairman and CEO, Air Products & Chemicals Inc.

    William J. Ready

    36

    Senior vice president and global head of product & engineering, Paypal

    Carlos A. Rodriguez

    52

    CEO and president, ADP

    Sandra S. Wijnberg

    60

    Executive advisor, former partner and chief administration officer, Aquiline Holdings

     
     
    Noteworthy Control
     

    Name

    Shares of common stock owned

    % of total common shares

    The Vanguard Group Inc.

    30,095,522

      6.52%

      Black Rock Inc.

      27,999,497

      6.1%

     

     

     

     
    [All information for NJ Tech Corner was taken from the company's annual reports and proxy statements and other company sources, with the exception of the company's stock price and valuation. […]



  • Morris County Officials Celebrate CCM's Designation as a National Center of Excellence


    on January 1, 1970 at 12:00 am

     

    &nbs […]



  • N.J. county to share license-plate reader data with the feds


    on January 1, 1970 at 12:00 am

    &nbs […]

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