Time’s up for Theranos: Blood-testing company to dissolve

Theranos, the Silicon Valley blood-testing startup that promised plenty but failed to deliver, is shutting down 15 years after it was founded.

An email to shareholders says the company — which at one time had a valuation of nearly $10 billion and whose board of directors included former secretaries of state and current Secretary of Defense James Mattis — cannot find any buyers and will be dissolved.

“I write with difficult news about the future of the Company,” the letter from CEO David Taylor began. Taylor took over for Elizabeth Holmes, the founder of the company who is now facing criminal fraud charges, in June. He joined Theranos as its general counsel in 2016, a year after reports by the Wall Street Journal called into question claims by Holmes — who founded Theranos as a 19-year-old Stanford University dropout — that the company could use a pin prick’s worth of blood for multiple blood tests.

Taylor said investment bank Jefferies “reached out on our behalf to over 80 potential sale counter-parties” but came away with no buyers.

“We are now out of time,” Taylor said in the letter sent Tuesday, which was obtained by the Wall Street Journal. Theranos does not have enough cash to keep going under terms of a loan from Fortress Investment Group it secured last year, according to the letter. It has about $5 million left that will be distributed to investors.

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In March, the Securities and Exchange Commission announced that it had reached a settlement with Holmes over its accusations that she and former Theranos President Ramesh “Sunny” Balwani engaged in “massive fraud” worth $700 million. Holmes, who did not admit wrongdoing, was fined $500,000 …read more

Source:: The Mercury News – Business


Police report: Ravens rookie can’t remember apparent assault

BALTIMORE — A police report says a rookie Baltimore Ravens kicker doesn’t remember the circumstances leading to the apparent assault that landed him in the hospital and on the team’s reserve/non-football injury list.

News outlets report Baltimore police twice attempted and failed to speak with Kaare Vedvik at the hospital.

The police report released Tuesday quotes Ravens security head Darren Sanders. The 24-year-old Norwegian told Sanders he couldn’t remember what happened after a teammate called around 3 a.m. Saturday. Vedvik had told the teammate he was good.

The report redacts Vedvik’s injuries, but says his wallet and phone were missing.

Ravens coach John Harbaugh says he’s going to tell his young players to “be a little smarter.” Harbaugh says Vedvik’s injuries likely cost him an NFL job.

…read more

Source:: Sportsnet.ca


NFL Kickoff: Twenty questions on the 2018 season

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The NFL can’t get out of its own way. Games can’t even get to kickoff without a problem, as evidenced by a national anthem controversy that won’t go away.

The Philadelphia Eagles beat the New England Patriots in one of the all-time great Super Bowls — with a backup quarterback, no less. Yet off-the-field concerns are at or near the top of the list when it comes to looking at questions, dilemmas and drama for the season to come.

So let’s take a look…

1. Who will be standing and who will be kneeling for the Star-Spangled Banner when the season begins Week 1, starting with Atlanta at Philadelphia on Sept. 6?

No way to know. Just when the whole issue seemed to be fading away, the NFL issued a clumsy, non-specific but heavy-handed directive implying there could be discipline for those who don’t stand at attention. Predictably, and rightly so, the NFL Players Association got involved. Even removing presidential pressure, this should have been a no-brainer. Let it go away on its own. But the NFL stirred it back up. And here we go again.

2. Does anybody know what a legal tackle is anymore?

This will be scrutinized repeatedly in the weeks to come. There was even a contract holdout over it, with Chicago first-round pick Roquan Smith fearing the loss of guaranteed …read more

Source:: The Mercury News – Sports


An executive coach says practically everyone forgets to ask the job interview question that exposes a big red flag

Erica Keswin exec coach

Among the job interview questions you ask the hiring manager, include something about opportunities for professional development.
That’s according to workplace strategist and former NYU executive coach Erica Keswin.
Keswin said if there isn’t a culture of regular feedback on employees’ performance and career goals, that could be a red flag.

As a workplace strategist for two decades, Erica Keswin has seen the job market slowly shift from “bottom-up” to “top-down.”

That is to say, while the onus was once on employees to steer the course of their professional development, employers are now partly responsible for making sure they’re giving people the resources to grow.

In fact, according to Keswin, who was an executive coach at New York University Stern School of Business and is the author of the forthcoming “Bring Your Human to Work,” if a company doesn’t care to provide these resources, that could be a red flag — and one you should spot sooner than later.

As you progress in the interview process with a new company (i.e. not in the first interview), Keswin said, you should ask the hiring manager: “Can you describe your approach to professional development?”

“Companies are becoming less and less surprised” to hear these types of questions, Keswin said. For one thing, the unemployment rate is at a record low, so companies are having a harder time attracting top talent.

What’s more, millennials and Gen Z-ers have been vocal about wanting regular feedback on their performance. Indeed, more and more companies are overhauling the annual performance review, replacing it with ongoing-feedback systems.

So you want to make sure the company where you’re interviewing is getting with the times.

“If it’s a culture where, you get there and you don’t have a formal or even informal discussion about your career and what you want until the end …read more

Source:: Business Insider


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