links for 2011-08-12

  • More than three-quarters of departing employees say they wouldn't recommend their employer to others, the worst percentage in at least five years, according to exit interviews aggregated by the Corporate Executive Board Co., a research and advisory services firm. In 2008, just as the recession began, only 42% of employees said they wouldn't recommend their employer. The 2011 data were based on exit surveys of more than 4,300 employees from 80 companies, most with more than $2 billion in annual revenue. A severe drop in employee satisfaction could impact companies' recruiting efforts, since prospective employees tend to trust former employees the most when choosing where to work, said Brian Kropp, a managing director with the CEB.
    (tags: hr)
  • If stocks plummet, can tech VCs hear them falling? Monday’s “correction,” which saw the Dow slide more than 600 points, ending below 11,000, left many global investors shaken if not outright destitute. But venture investors operate in a different game, positioning their private companies for a potential exit that might be several years down the road. Because of that, there was a general lack of panic around San Francisco, especially among seed and angel investors whose timeline is even longer than that of traditional venture investors.
  • On June 22, 2011, the Securities and Exchange Commission (the "SEC") adopted final rules [1] which implement certain provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). Among other things, the final rules adopted by the SEC: (i) provide an extension to the SEC registration deadline for advisers currently relying on the "private adviser exemption," including hedge fund and private equity fund advisers, until March 30, 2012, (ii) implement exemptions from SEC registration for certain venture capital fund advisers, private fund advisers and foreign private advisers, (iii) reallocate regulatory oversight of investment advisers among the SEC and the individual states, (iv) expand disclosure obligations, (v) define the term "family offices" that are to be excluded from SEC regulation and (vi) revise the "pay-to-play" rule. Set forth below is a high-level summary of the final rules.
  • Recent events surrounding cloud storage/sync provider Dropbox makes you question the security and privacy of the data in the cloud. Some providers have encryption algorithms built into their product. But for individual users, figuring out how to use them quickly turns into a time-consuming guessing game. So I have an easier solution. Encrypt the data yourself. Placing your sensitive data in an encrypted container–a file, basically–lets you store that container on your cloud storage provider of choice with confidence. This comes with some overhead. Good crypto takes a few CPU cycles. But it's worth your time for the really sensitive information you have out there.
  • There are things in this world about which intelligent people are allowed to politely disagree, and then there is the improper use of Twitter hashtags. The scannability of Twitter is challenging enough enough when your stream is populated by business like this: "RT @monkeybrains @gregorianmonkface Thx for pointing this out –> RT @smarmalade Craziness in Ibizan goat markets right now" But it's even #worse when #tweets are #populated #with #hash #tags mid-sentence.
    (tags: twitter)
  • In some states, agreements respecting the corporation's power to restrict the transfer of its shares, once issued, are not deemed to be effective unless they are set out in the charter (and, like all restrictions, "legended" upon the face of the share certificates themselves); moreover, any agreement purporting to bind shareholders not signatories to the agreement may only be legally effective if set out in the charter. The typical restriction, in the nature of a first-refusal restriction, is a significant element of governance in closely held corporations, important to ensure that stock not fall into the hands of strangers without an opportunity in the company (or the remaining shareholders) to buy back some or all of the shares. In small companies, the shareholders feel the need to relate to each other as partners and a maverick shareholder can be disruptive.

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