The European Commission has fined General Electric €52 million for providing incorrect information during the Commission’s investigation under the EU Merger Regulation of GE’s planned acquisition of LM Wind.
Commissioner Margrethe Vestager, in charge of competition policy, said: “Our merger assessment and decision-making can only be as good as the information that we obtain to support it. Accurate information is essential for the Commission to take competition decisions in full knowledge of the facts. The fine imposed today on General Electric is proof that the Commission takes breaches of the obligation for companies to provide us with correct information very seriously.”
The EU Merger Regulation obliges companies in a merger investigation to provide correct and non misleading information. This is essential for the Commission to review mergers and takeovers in a timely and effective manner.
On 11 January 2017, GE notified its proposed acquisition of LM Wind. In this notification, GE stated that it did not have any higher power output wind turbine for offshore applications in development, beyond its existing 6 megawatt turbine. However, through information collected from a third party, the Commission found that GE was simultaneously offering a 12 megawatt offshore wind turbine to potential customers.
As a result on 2 February 2017, GE withdrew its notification of the acquisition of LM Wind. On 13 February 2017 GE re-notified the same transaction, this time including complete information on its future project. On 20 March 2017, the Commission approved the proposed acquisition.
On 6 July 2017, the Commission addressed a Statement of Objections to GE alleging that it had breached its procedural obligations under the Merger Regulation.
The Commission’s investigation has confirmed that, contrary to GE’s statements in its first notification in January 2017, GE had indeed been offering a higher power output offshore wind turbine to potential customers. As a result, GE’s statement in the notification form that it had no higher power output wind turbines for offshore in development is incorrect.
Today’s decision has no impact on the Commission’s approval of the transaction under EU merger rules, as this was based on rectified information from the second notification.
According to the Merger Regulation, the Commission can impose fines of up to 1% of the aggregated turnover of companies, which intentionally or negligently provide incorrect or misleading information to the Commission.
In setting the amount of a fine, the Commission takes into account the nature, the gravity and duration of the infringement, as well as any mitigating and aggravating circumstances.
GE committed an infringement by negligently providing incorrect information in the merger notification form. The Commission considers that this infringement is serious because it prevented it from having all relevant information for the assessment of the transaction.
Moreover, the Commission considers that GE, with whom it had continuous contacts during the merger review process, especially on the subject of GE’s pipeline products in this market, should have been aware of the relevance of the information for the Commission’s assessment, and of its obligations under the Merger Regulation. Therefore, GE’s breach of procedural obligations was a serious infringement.
On the basis of these factors, the Commission has concluded that an overall fine of €52 million is both deterrent and proportionate.
New Research Reveals SafelyYou’s AI-Enabled Fall Detection Reduces Need for Emergency Service Care in Dementia Care Facilities
Real-time fall detection using SafelyYou’s artificial intelligence-enabled video recording reduced the need for emergency services by a staggering 80% in dementia care facilities, according to research results published in the American Journal of Managed Care. The study closely examined the impact of SafelyYou’s memory care-focused technology to detect falls, videotape falls and notify care staff so that video review of the incident could occur immediately after each fall.
“According to the Alzheimer’s Association Report (2016), fall injury is the leading cause of Alzheimer dementia–related hospitalizations, with $5.3 billion in annual cost to Medicare,” said Glen Xiong, Advisory Board Member for SafelyYou. “In residential care facilities, individuals with dementia fall, on average, four times per year and twice as often as other residents. Falls often go unwitnessed. Due to uncertainty regarding the seriousness of each fall, facility staff frequently activate local emergency medical teams to examine the residents, and such visits often result in emergency department visits.”
The study, supported in part by a National Institutes of Health, National Institute of Aging Small Business Innovation Research Grant, was conducted with enrolled participants on June 1 to Aug. 31, 2018. Fall incidents and outcomes were routinely recorded for facility residents, and facility staff reviewed the falls in real time, immediately after each incident, for study participants.
Among 147 falls in the control group, 52 (35.4%) resulted in EMT visits and 36 (24.5%) resulted in ED visits. In contrast, the intervention group had 83 falls, with 13 (15.7%) and seven (8.3%) resulting in EMT and ED visits, respectively. There were relative reductions of 75% in EMT visits and 80% in ED visits.
The AI-enabled camera fall detection system coupled with staff review of fall videos led to more accurate identification of serious falls and incidents compared with less serious falls, such as when a resident intentionally moved to the ground but did not fall.
“Using emergency services less frequently leads to lowered healthcare costs and stress for everyone,” said George Netscher, CEO of SafelyYou. “Speaking with families and hearing the testimonials is really the very best part of our day.”
Metadata.io Emerges as MarTech Force with Rapid Company Growth and Leader Position in G2 Crowd Summer 2019 Momentum Grid® Report for Account-based Execution
Metadata.io (https://www.metadata.io/), the AI-powered account-based advertising platform for predictable B2B lead generation, today announced it is fast rising as a leader in the MarTech industry based on customer satisfaction. As a second-place Leader in G2 Crowd’s Summer 2019 Momentum Grid® Report for Account-based Execution, Metadata helps CMOs deliver a qualified pipeline to sales organizations by generating a predictable flow of inbound MQLS from within their target accounts.
Metadata customers like Nutanix, Nexmo and others have repeatedly won awards for best performing campaigns on LinkedIn and Facebook. They are among a growing list of early adopters that are achieving the industry’s top benchmarks in customer acquisition and ROAs using Metadata.
See the full Summer 2019 Momentum Grid Report here: http://bit.ly/2xGyaA5
“Our ranking is 100 percent attributed to our sophisticated customer base who bravely adopted early AI technology and achieved great ROI multiplier through automation and experimentation,” said Gil Allouche, CEO of Metadata. “Together, we are transforming marketing operations with AI. With Metadata, B2B marketers gain unprecedented ROI from digital investment, in a more predicted, measured fashion.”
“Our investment with Metadata empowered us to automatically target and convert sales-qualified leads that not only impacted revenue, but completely automated and simplified the execution of our account-based campaigns,” said Rob Bethell, Marketing Manager at RStudio.
For the quarterly Grid Momentum Report, G2 Crowd rates products based on reviews gathered from the user community, as well as data aggregated from online sources and social networks. The Momentum Grid for Account-based Execution is based on scores calculated using the G2 Satisfaction algorithm and G2 Momentum algorithm from reviews collected through May 29, 2019. In the Summer 2019 momentum report, Metadata showed strong growth in reviews, social and web.
Knowmatix: An Online Educational Platform for the Cryptocurrency Industry
Knowmatix is an online, in-depth educational platform providing the fundamentals and practical skills necessary to become successful in the Blockchain, Cryptocurrency industry from the comfort of your own home.
By applying our easy to understand, proven methods and applications, it is now easier than ever to successfully become a knowledgeable leader in blockchain technologies industry through our online accelerated educational program. Our comprehensive introductory program provides a fundamental understanding of how various blockchains operate and how easy it is to strategically trade cryptocurrency in today’s centralized economy.
Our founder and curriculum developer, Abdulaziz AlYaqout, is currently operating in Miami Beach, Florida. Prior to forming Knowmatix, Mr. AlYaqout took lead as an important consultant for the business analyst team at Ryder Systems, Inc. and the University of Miami Hospital and Clinics. He holds BS Degree and MS in Industrial Engineering, both from the University of Miami.
As lead instructor for Knowmatix, Mr. AlYaqout’s first course is a blockchain and digital currency microdegree that provides you the basic tools to start and advance your professional career in the cryptocurrency.
Learn the technical analysis basics and terminology and develop buying strategies and skills to grow your personal finances. Learn how to deconstruct the blockchain technology, and the importance of Hashing. Discover Bitcoin and understand its history and role in the cryptocurrency marketplace.
Knowmatix, seeks to create a Knowmatix Impact Program (KIP) that forms strategic alliances with reputable businesses operating in the Blockchain industry. This involves Knowmatix assigning project managers to given projects, and delegating work per project basis to qualified star students. While forming alliances with businesses, Knowmatix will align itself with schools and institutions to provide a custom backend solutions curriculum to help revamp their online courses. This effort provides colleges and institutions cost saving measures by offering its platform in a software program, which acts as an additional resource to aid students with completing their education, and securing a career through Knowmatix alliances and partners in the ever growing technology field, nationwide.
With Knowmatix’ proprietary platform and blockchain-focused training services, Mr. AlYaqout ventures to be part of the governmental effort to Buy American and Hire American with special interest for advancing the careers of woman and Veteran groups nationwide to team up with Knowmatix.
For additional information and preview of our proprietary educational curriculum, please visit our website at www.knowmatix.com.
What You Will Learn
- Cryptocurrency terminology
- Deconstructing blockchain technology
- Understanding Hashing
- Digital Currency and its Future
- Bitcoins role and history
- Currency wallets
- Crypto Research tools
- Buying strategies
- Digital Asset Classifications
- Blockchain Analysis Basics
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