Jon Stewart Just Kicked Seth Rollins Square In The Balls

The Daily Show host has finally confronted the WWE superstar on WWE Raw.

And it didn’t take long for Stewart to make fun of Rollins.

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Which didn’t go down too well.

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Luckily Randy Orton came out to calm the two down.

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[source BuzzFeed]

Rihanna – “Towards The Sun” (Official Sneak Peek) | HOME

Watch above the official sneak peek at Rihanna’s new single “Towards The Sun” from DreamWorks Animation’s “Home”.

When Oh, a loveable misfit from another planet, lands on Earth and finds himself on the run from his own people, he forms an unlikely friendship with an adventurous girl named Tip who is on a quest of her own. Through a series of comic adventures with Tip, Oh comes to understand that being different and making mistakes is all part of being human, and together they discover the true meaning of the word HOME.

Purchase “Towards The Sun” on iTunes, Google Play, Amazon.

RIHminder: Enter for your chance to bring the premiere of “HOME” and Rihanna to your town.

[source rihannadaily]

Why Don’t Convenience Stores Sell Better Food?

At a small corner store in northeast Washington, Nola Liu, a community-outreach officer with the D.C. Central Kitchen, whirled around a deli case with a clipboard in hand, passing out a recipe for cinnamon pear crisps to anyone who would take it.

She thrust a card at a man in a blue knit hat who was on his way out.

“Are you gonna make it for me?” he asked.

“No, you have to make it yourself,” she responded.

“I’m not much of a baker,” he said, and walked out.

Fresh pears are a relatively new arrival at this store, which is called Thomas & Sons. Just a few months ago, the extent of its produce selection was a small refrigerated case holding a few forlorn fruits and onions, all going at a premium. The owner, Jae Chung, was reluctant to stock things like tomatoes, which would often go bad while they lingered on the shelves.

Now, a brand-new refrigerated vegetable case sits front and center amid all the beer and bulletproof glass. (“I have some unruly customers,” Chung explains.) Inside are apples, lemons, limes, and grapes packaged neatly in plastic containers. Additional baskets hold potatoes and bananas. The case was provided by the D.C. Central Kitchen as part of their Healthy Corners program, which seeks to the expand the fruit and vegetable offerings in corner stores across the District.

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The Healthy Corners fridge at Thomas & Sons (Olga Khazan/Atlantic)

Not only did the nonprofit give Chung the fridge for free, it will also replace any items that go bad at no extra cost. They sell the greens to him for cheap, too. Chung says before, he had to buy his fresh produce stock at Costco and pick it up himself. After he added in his markup, a tomato at Thomas & Sons would sell for about $ 2.50. Now, it’s more like $ 1 to $ 1.50—on par with what someone might pay for a bag of chips or package of donuts. (At Walmart, a pack of four tomatoes goes for $ 2.48, or about 60 cents per tomato.)

Nearly every city has neighborhoods that suffer from a lack of access to cheap, easy, and healthful options, and Washington, D.C. is no exception. Tiny, independent corner stores—the kind that have wall-to-wall beverage cases, rows of brightly-packaged junk food, and just one or two cash registers—are crammed into every nook of the city. They’re an essential part of the food landscape, providing everything from make-do lunch fare for construction workers to emergency beer for hipsters on their way to house parties. According to the D.C. Central Kitchen’s calculations, 88 percent of food retailers in the District sell mostly junk food or processed food. Two hundred thousand of the District’s residents live in an area where the closest grocery store is three times further away than the closest fast-food or convenience store.

One solution is to lure more large grocery stores to these so-called “food deserts.” But it’s often much easier, some advocates argue, to simply get the ubiquitous corner stores to start selling healthier food.

Size is the main reason most American corner and convenience stores don’t stock very many fruits and vegetables. Many food distributors require a minimum order—say 250 apples—for a delivery. That’s easy for places like Safeway or Giant, but it’s harder for small shops that sell maybe two dozen apples each week. Corner-store owners who do opt to sell produce end up buying it at prices similar to those regular consumers pay. On top of that, produce requires refrigeration, which adds to the cost for store owners. And unlike Cheetos or Oreos, vegetables rot.

The Healthy Corners program has lowered most of these hurdles. The D.C. Central Kitchen already owned a fleet of trucks that it used for food deliveries to homeless shelters and transitional homes. In 2011, the organization realized it could use the same drivers to bring produce to local corner shops. Because it serves many different types of facilities, the Kitchen has substantial buying power: It’s more akin to a large restaurant than a tiny retailer. That, combined with its strategy of buying from local farms and seeking philanthropic grants, helps drive down prices.

“We buy product that’s aesthetically or geometrically challenged,” says the organization’s chief executive officer, Mike Curtin. Some of it is produce that’s “the wrong shape or size to fit in the right box to fit in the right truck to fit in bins in the grocery store that are organized by size.” But it’s still perfectly good—and corner-store owners were happy to have it.

The Healthy Corners program targets areas where there is not a full-service grocery store within a quarter-mile. In addition to promoting fruit and veggie recipes in the stores, D.C. Central Kitchen staffers have also held cooking demonstrations and doled out free samples. It’s not enough, store owners told me, to simply install a produce fridge and expect the community to flock.

There are now 67 such Healthy Corners in D.C., most of which are in lower-income neighborhoods. According to the nonprofit’s own numbers, the corner stores in the program sold more than 140,000 pieces of produce within the past 10 months, up from about 17,000 in the seven-month period between September 2011 and April 2012.

The organization says it wants to help grow these types of programs in other cities. It recently consulted on a similar project in Rochester, New York. Separate initiatives focusing on corner-stores have sprouted up in Chicago, Manhattan, and Denver.

* * *

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The Thomas & Sons fridge (Olga Khazan/Atlantic)

The idea that food deserts, or even insufficient produce intake, are a cause of obesity has come under fire recently. One study in Health Affairs last year found that when a new grocery store opened up in a food desert in Philadelphia, neither locals’ weight nor their diets changed. Roland Sturm, an economist with the RAND Corporation, wrote a paper (which I covered when it came out) about how people of all incomes now eat about 30 pounds more vegetables and fruit annually than they did in 1970. Obesity rates have worsened all the while.

People still rely on corner shops primarily for household essentials, like toilet paper, or for a filling meal they can eat on the run. Chung says that occasionally parents thank him for providing fruit as an after-school snack option. Still, “customers’ behavior hasn’t really changed at this point,” he says.

At Thomas & Sons, one man plopped a 12-pack of Yuengling on the counter and announced to the cashier, “I ain’t working today, so I’m going to drink.” At Wheeler Market, another Healthy Corners store, some customers eyed the fridge full of fruit before grabbing a package of donuts.

“This is not going to end obesity, or diabetes. It’s naive to think that’s the case,” Curtin says. “People will avail themselves of this food, but are they still going to eat junk food? Sure.”

* * *

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DC Central Kitchen/Flickr

But perhaps reducing obesity shouldn’t be the goal, or at least not an immediate one. Other than weight loss, there are plenty of advantages of eating well, like preventing some forms of cancer. And even produce-heavy, organic grocery stores still sell brownies. (Curtin points out that no one would say, “Oh, we shouldn’t open up a Whole Foods in McLean [a wealthy D.C. suburb], because people are still going to buy chips.”)

The Healthy Corners do seem to resemble a European style of grocery shopping that some public-health advocates extoll. Rather than pack up the family and head to Kroger every Saturday, returning with a trunk full of Teddy Grahams and assorted meats, many Europeans buy their produce on the way home from work from the dozens of small green-grocers that dot their street corners. These independent merchants—many of them recent immigrants—wedge their stores into the bottom floors of larger buildings, their melons and squashes stacked neatly in blue bins on the sidewalk.

Jaap Seidell, an obesity expert at Vrije Universiteit Amsterdam, said these small vegetable shops, which have proliferated across both large and small towns in Europe, offer a great deal of variety at prices that are even lower than those of grocery stores. They don’t seem to run into the same distribution and cost issues that their American counterparts struggle with. “It’s in season, they don’t have to store it for a long time, they don’t have to cool it, and there’s a lot of demand for it,” Seidell says. “There’s a lot less cost and waste involved.”

Of course, the Dutch way of life makes on-the-fly veggie shopping easier. Big grocery-store runs aren’t very practical anyway, Seidell notes, because almost everyone bikes or walks to work. Most Dutch women work part-time, so they have ample time to procure and cook fresh food.

In the Netherlands, he says, “It has always been like this: you have butchers, bakers, and the vegetable farmer.”

* * *

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Woldeabzghi (in the white sweater) entertains customers at Wheeler Market. (Olga Khazan/Atlantic)

Curtin says the success or failure of Healthy Corners will not hinge on whether “we put vegetables in 67 corner stores, and some people are still fat.” It’s about allowing people to decide what kind of diet they’d like to have.

Muller Woldeabzghi, the owner of Wheeler Market in southeast D.C., says he sells maybe 10 to 20 pieces of the Healthy Corners produce each day, accounting for about 10 percent of his sales. He said some customers come to Wheeler instead of the Giant, which is one and a half miles away, because they lack transportation, but others simply like the shop’s community feel. It’s “a neighborhood feeling,” he says. “They want to support us, we want to support them.”

When I asked one Wheeler shopper what he thought of the fridge, he seemed skeptical. “Why would someone go to the corner store for produce?” one man said on his way out. “Why wouldn’t they go to the market?”

Several other customers I spoke with, though, seemed to take a more Dutch view.

“It’s convenient,” said Laray Winn, who lives in the neighborhood. “You can make it here in an emergency and get whatever you need.”

Demetrius Cain, who lives across the street, says his 6-year-old son is also a fan. Sometimes when he’s bored, the boy runs over and comes home with a still-chilled apple. It’s not exactly a revolution, but at least it’s not a Twinkie.

This article was originally published at

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[via theatlantic]

The Most Common Sources of Food Poisoning

A late-night roiling stomach is cause for frenzied reflection. After wondering if you’re getting sick, your thoughts will likely wander to your most recent meal, prompting that anxiety-inducing question: “Was it something I ate?”

If it was, you’d be among the 48 million people who get foodborne illnesses in the United States each year. And a new report by the Interagency Food Safety Analytics Collaboration offers some insight on what these 48 million people are likely to have eaten before getting sick. When the IFSAC was created in 2011, it was tasked with getting better data on where foodborne illnesses are coming from, and this report is the first one using the group’s “improved method.”

The report looks at four major pathogens that the IFSAC (a joint effort by the Food and Drug Administration, the Centers for Disease Control and Prevention, and the Department of Agriculture)  considered “high priority:” E. Coli 0157, Salmonella, Campylobacter, and Listeria. These bacteria are among the most common and most severe types that cause foodborne illness, but, as the FDA wrote in a press release, “targeted interventions can have a significant impact in reducing them.”

The researchers primarily studied outbreaks from 2008 to 2012, bolstering the set with data from older outbreaks to make sure they included foods that may not have caused outbreaks within that five-year period, but may have still transmitted some illness.

These were the most common foods responsible for transmitting each of the pathogens:

E. Coli

  • Beef: 46 percent
  • Vegetable row crops: 36 percent


  • Seeded vegetables: 18 percent
  • Fruit: 12 percent
  • Eggs: 12 percent
  • Chicken: 10 percent
  • Beef: 9 percent
  • Pork: 8 percent
  • Sprouts: 8 percent


  • Dairy: 66 percent
  • Chicken: 8 percent


  • Fruit: 50 percent
  • Dairy: 31 percent

This data gives some insight on where to focus efforts to fight food poisoning caused by these four bacteria. But it also reveals some challenges—for example, it’s a lot easier to zero in on just a couple causes, like E. Coli’s beef and row vegetables, than it is to try and battle the broad, diffuse reach of Salmonella.

Campylobacter occurred in small percentages in seafood and vegetables as well as chicken, but dairy had the overwhelmingly highest rate of the bacteria. The report attributes this to raw, unpasteurized milk and cheeses.

Dairy was also a big hitter for Listeria, but the report notes that there weren’t that many outbreaks to go on. For example, the high percentage attributable to fruit came mostly from an outbreak caused by cantaloupes in 2011.

It’s hard to predict where or when an outbreak of one of these illnesses will occur, and of course one shouldn’t live in fear of one’s dinner, but if your stomach starts to cramp and churn between a few hours and a few days after eating one of these foods, it’s possible it was something you ate.

This article was originally published at

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[via theatlantic]

The plane crashed because of ‘Selfie’

cessna 150k The plane crashed because of ‘Selfie’Last year a plane crashed in the USA. The news did not come in the international media because two people died in the incident. But the news came in the international media after knowing the cause of the incident. The plane crashed because the pilot of the plane was taking his picture on his Smartphone!

A small plane Cessna-150K flew from the range airport on last 31st May midnight. The pilot of the plane was 29 years old Amrit Pal Singh. The plane disappeared with one passenger shortly after launch.

Seven hours later, radar caught that the plane was lying on the ground about two kilometers far from the airport. Pilot Amrit Pal Singh and the passenger both were dying in the disaster.

Immediately after the accident, the National Transportation Safety Board (NTSB) of the USA was trying to expose the mystery of the accident. Nearly seven months of investigation, investigators said, the pilot of the plane Amrit Pal Singh was trying to take his picture means ‘Selfie’ with his Smartphone in the Cockpit while flying the plane and for this he had to die tragically. The investigators take the help of the ‘Go-Pro’ camera on the plane to find out the reason of the accident. The camera captured that the pilot is doing such a risky work he is taking selfie while running the planet.

 The plane crashed because of ‘Selfie’

[via allbanglanewspaper]

Silicon Valley’s Best and Worst Jobs For New Moms (and Dads)

The tech industry has a reputation for being both a wonderland of employee benefits and a place that is unfriendly to families, particularly mothers. Along with the weekly massages, travel stipends, unlimited organic snacks, and casino-themed happy hours are stories of women who are stigmatized and punished for having children, overworked employees who feel they will never be able to balance family and a career, and entrepreneurs who are told by their advisors not to hire women of childbearing age. The dichotomy is stark and puzzling.

The U.S. is one of only four countries in the world—along with Liberia, Sierra Leone, and Papua New Guinea—that does not guarantee the right to paid maternity leave. While a few states offer taxpayer-funded family and medical leave, and while President Obama is pushing for a national paid parental-leave policy, the responsibility of creating these policies remains at the discretion of each employer.

Supportive parental-leave policies are a critical part of keeping women in the workforce and in leadership positions. Considering that women today hold less than 20 percent of leadership positions in corporate America, according to a 2015 report by Colorado Women’s College, and just 5 percent of CEOs at Fortune 500 companies are women—all while job participation by women during peak earning years is sharply dropping—the need for widespread change is dire. Tech companies serve as a role model for the rest of the country when it comes to corporate culture. Thus the dichotomy that exists in how the tech industry has ramifications that extend far beyond Silicon Valley.

“We find ourselves at a crossroads, where our workforce demographics, family demographics, and population dynamics are changing,” said Vicki Shabo, vice president of the National Partnership for Women and Families. “Big tech companies are on the leading edge of supporting families and some tech leaders are speaking out, but by and large, companies don’t necessarily see their own interest or the public interest in creating these policies.”

To better understand the disparities that exist in the tech industry when it comes to supporting employees with families, I examined parental-leave policies at 15 different tech companies across sizes, verticals, and locations.

Leading tech companies like Facebook, Apple, Google, and Yahoo offer some of the most generous parental leave policies in the U.S. Among this group, Facebook is the only company to offer equal time off for all parents, whether they are the birth mother, father, or adopted parents. All new parents at Facebook receive four months of paid leave, as well as $ 4,000 in “baby cash.” In the past year, Facebook introduced designated breast-feeding rooms at its Menlo Park location. In addition, it offers financial and logistical assistance with adoption and fertility services, including the controversial coverage of egg-freezing costs, which Apple also offers.

Apple’s paid family-leave policy gives expectant mothers up to four weeks before a delivery and 14 weeks after. Expectant fathers and other non-birth parents can take six-week paid parental leaves.  

At Google, biological mothers are given 18 weeks of paid maternity leave and 22 if there are complications. New parents, regardless of gender, can receive up to 12 weeks of paid baby bonding time, including adoptive or surrogate caregivers. Non-primary caregivers are eligible for 7 weeks paid leave.

“We formerly had a maternity-leave policy of 12 weeks of fully paid and vested leave, but science better informed our decision-making in 2007,” said Google spokesperson Roya Soleimani. “Twelve-week-olds are at a very different place developmentally than are 18-week olds, so we changed our maternity leave to 18 weeks. It just felt like the right thing to do. After our policy change, we also found that returning moms left at half the rate they were leaving at previously.”  

Google also offers a number of caregiving benefits, including consultations for parents searching for childcare, discounts for nanny-placement agencies, and “mother’s rooms” equipped with hospital-grade sterilization tools in all Google buildings, and $ 500 towards baby supplies. These benefits not only aim to make life easier for working parents, but also to promote a family-friendly atmosphere. According to Shabo, culture can play just as significant a role as the actual policy in supporting new parents, and culture trickles down from the top.

“We’ve seen that upper income, well-educated workers don’t take leave because they think they will be viewed negatively, won’t be taken as seriously, their commitment will be questioned, and they will lose out on opportunities for advancement,” she said. “A lot of research shows that this is true, so leaders have to create a culture where the policies aren’t just something that is on paper, but are encouraged. Culture relies heavily on initial groundbreaking people who take leave and come back.”   

YouTube CEO Susan Wojicki was Google’s first-ever employee to go on maternity leave when the company was new. Last year, she went on maternity leave for the fifth time. In a recent editorial in the Wall Street Journal, Wojicki wrote that nearly 5,000 women at Google have gone on maternity leave and that paid maternity leave is “good for business.” Another high-profile female leader to take maternity leave is Marissa Mayer, who was pregnant with her first child when she became the CEO of Yahoo. Mayer actually took some flak for not taking enough maternity leave, as well as for her decision to end Yahoo’s telecommuting policy and install a nursery next to her office. However, she also made significant upgrades to Yahoo’s parental-leave program.

Before Mayer, Yahoo’s policy included disability and maternity benefits that were in line with California’s regulations (six weeks), but provided no paternity leave. In April 2013, Yahoo extended its parental-leave policy to offer 16 weeks of paid maternity leave and 8 weeks of paid time off to fathers and parents of foster, adopted, or surrogate children. Yahoo’s Director of Global Benefits Joe Gracey said this time can be taken anytime within one year of the birth, adoption, or foster-care placement. In addition, Yahoo offers $ 500 for baby-related expenses, and $ 5,000 towards adoption. In its larger locations, the company holds periodic “new child showers” with food, games, and decorations for people who have had a child, are expecting, or are thinking of having one. At these events, Yahoo’s benefits teams provides more information about all the various programs and policies.

Twitter’s VP of Diversity and Inclusion Janet Van Huysse said Twitter provides 20 weeks of paid maternity leave for birth mothers and 10 paid weeks for paternity leave or adoptive parents. It also holds “New Moms and Moms-to-Be” roundtables every quarter where women who are leaving for or returning from parental leave can get together to share questions, concerns, and best practices. This initiative has led to others, including a “Mommy Mentor” program, Working Moms monthly lunches, and the new “Dads On Leave” roundtables.

Instagram and Reddit both offer 17 weeks of paid leave for new moms and dads, making them among the most generous equal-leave policies in the industry. Last fall, announced that it would offer 18 weeks of fully-paid parental leave to every employee who becomes a parent, biological or otherwise. “Equal leave is particularly important for reducing stereotypes that exist in the workplace because non-equal policies encourage hidden biases that women will be away from work longer, and thus get fewer raises and promotions,” said COO Jennifer Dulski, who spearheaded the effort behind the expanded program. “Our view is if you provide equal leave to all parents, you reduce that bias.”

In addition to announcing its own policy, also initiated a campaign on its petition platform and across social media where employees could put pressure on their employers to do “the right thing.” When employers realize that parental leave is essential to recruiting top talent, Dulski expects this will cause a “sea change” among the tech companies who still lag behind.

And there are many, many companies that lag behind. A majority of tech companies are nowhere near as generous as, Instagram, Reddit, and its peers, offering the bare minimum or a modicum above it. In 2014, the ad startup PaperG conducted a survey of 97 tech companies ranging from seed stage to post-IPO about their policies. One-quarter of the companies surveyed offer less than a month of paid maternity leave and 43 percent offer less than a month of paid paternity leave. While 100 percent of later stage companies (Series D, post-IPO) offer paid maternity and paternity leave, no seed-stage startups offer family leave policies at all. (By the Series A funding round, this number bumps up to 50 percent.)  

Stage of Funding vs. Paid Maternity and Paternity Leave Offering

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Red bars show the percent of companies that offer paid maternity leave, while blue bars show the percent of companies that offer paid paternity leave. (PaperG)

This is understandable. Large, well-funded companies have more resources to allocate to parental leave and are more able than a small team to compensate for an employee who is out. Startups at the seed stage generally don’t have human resources infrastructure in place, or even employees for whom paid parental leave is an issue. (This hints at another cultural issue in Silicon Valley—bias against hiring older workers and parents.) Many of the companies interviewed for this article said they started thinking about paid family leave once they had employees that needed it.

“A lot of companies are started by young founders who learn so much on the job,” said Andy Sparks, COO and cofounder of Mattermark. “They don’t really know what they are doing and blinders are up to anything that is not right in front of them. At Mattermark, we realized we needed to be conscious of family leave if we wanted to respect people’s lives outside of work, even if no one had kids yet.”

Mattermark offers up to 12 weeks of paid maternity leave, which is on par with what Pinterest and Kickstarter offer (that’s also what mothers at The Atlantic get, for what it’s worth), as well as 12 weeks of paid paternity leave, which is more generous than Apple or Yahoo. Salesforce, on the other hand, offers just four weeks of paid maternity and paternity leave. These findings corroborate those of PaperG, which found that while there is a relationship between the size or funding stage of a company and whether or not they have a parental-leave policy, there is no relationship between the size or funding stage and the amount of paid maternity or paternity leave they offer. The stronger correlations actually relate to female representation in a company.  

The fact that companies with more female employees and leaders are more likely to offer strong parental-leave policies is confirmed by both data and anecdotal evidence, from companies including Rent The Runway, Mattermark, Wildflower Health, and Lyft. These companies are more likely to cultivate an atmosphere that supports work-life balance and does not stigmatize parenthood, according to the PaperG study.   

“Rent the Runway is a really family- and mother-friendly company,” said Rent the Runway’s UX Lead Jess Brown. “The maternity policies are well laid out, senior leadership has kids, people have been pregnant, taken maternity leave, come back, and hasn’t impacted their career here at all. It is really empowering and positive to see. I definitely think female founders are a factor in the flexibility because if there are no women around to speak up, it can be intimidating.”

However, across Silicon Valley, women are often not around to speak up, given that they represent a severe minority in the tech workforce and leadership. Men outnumber women 7 to 3 in the tech industry. Just 13 percent of venture-backed companies have at least one female co-founder and tech companies employ an average of 12 percent women engineers. These appalling numbers are often delivered with a cacophony of claims about “pipeline problems” that do little more than absolve the tech industry of its culpability, especially considering sexism is a major contributor to pipeline problems. Large, well-funded companies, like those examined above, have entire departments dedicated to “culture” and human resources teams that focus on supporting women and families, but in the wild west of male-dominated startups, gender prejudice still runs rampant. “When I was starting out, I went to older men COOs for advice and a couple of them told me to be wary of hiring too many women, because if you have a bunch of women on your team, they all get pregnant and leave,” said Sparks, the Mattermark executive. “That happened a couple times, and it just made my skin crawl. If other men get this advice from older men, then it will only be perpetuated and perpetuated.”

Stigmas like these contribute to the motherhood penalty that causes women’s wages to go down when they become parents (while men’s wages actually go up) and to be viewed as less competent, competitive, and worthy of promotion. They also make it far more difficult for women who have children to feel they can balance their job and their career. Textio CEO and cofounder Kieran Snyder spent a month collecting stories from 716 women who left the tech industry and found that the overwhelming reason was “culture.” In an article in Fortune, she wrote that more than two-thirds of the women in her survey said motherhood was a factor in their decision to leave tech, due to unreasonable expectations from managers, an absence of support from the company for things like breastfeeding or childcare, and feeling overtly or implicitly discriminated against by leaders and coworkers.

The progressive and inspiring policies of many of tech’s most prominent companies have not yet trickled down to the rest of the industry, either in practice or in priorities. While the specifics of the actual policies are important, they are just one part—albeit one critical part—of cultivating a culture that is welcoming to women. A 22-week policy or “unlimited” time-off means nothing if women are viewed as less capable, regularly experience harassment, or fear that having children will completely derail their career. Startups have been willing enough to emulate Google in offering free lunch for employees and other perks in an effort to recruit and retain the best staffers. Let’s hope that the same follow-the-leader routine soon takes place for supporting women and families.

This article was originally published at

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Nominal Companies are taking money from the Stock Market

stock market Nominal Companies are taking money from the Stock MarketNominal companies are taking thousand millions of money of investors from the Stock Market showing their greed and by taking the advantage of unconsciousness the Invertors. Studies have shown that, in the vast majority of companies, most are small capital and family companies.

Investors have applied two and a half to 80 times for the each share of these companies while coming in the IPO. But the share of the company was sold less than the allotted price after a year. Even at the end of the year, it’s remaining in the ‘Z’ category.

Investors are being affected for buying shares in illogical price not knowing much about the company. The decline of the stock market is getting faster. Market analysts say, the stock market is not like other markets, the market is a complex and risky place, so invest in the stock market after knowing it properly. But two classes of investors are investing in lower quality and weak capital-based companies not seeing anything about the company. Companies are taking this money with the help of auditors by giving false information prospectus.

Bangladesh Securities and Exchange Commission (BSEC) are approving IPO of a company not seeing much of it. For these reasons, Ministry of Finance has warned BSEC. However, in the last year they gave approval to 18 companies to take two thousand crore taka. In which most of the companies are nominal. Some officials of BSEC have alleged for giving approval of illegal money transactions through IPO. However, no evidence was found of the complaint.

Stock Market expert Abu Ahmed said about the context that, the investors of our country are very greedy. They are buying the share at the price the companies are giving; they are investigating that the company BSEC approved is good or bad. He said people got crazy to apply to the share of the company that the BSEC approved IPO. In that case, investors do not any query about the company. Even they don’t be conscious if they got the news from the media that the company has weak capital.

Director of Dhaka Stock Exchange Shakil Rizvee said nominal companies are coming to a type of IPO businessmen along with the unconscious investors. These investors are opening hundreds of accounts. And getting shares in the lottery. They are withdrawing the money by selling the share after some day. For that, the liquidity crisis in the secondary market is increasing. So that controlling agency should be strict about the applicants that are applying for the IPO. So they can’t be able to open hundreds of anonymous accounts. After that, the frat circle would not be able to do anything, and the fund will become large.

Shakil Rizve said, to bring good companies in the share market, stock dealers should allot individually in the IPO share like Mutual Funds. Then the companies coming in the IPO wouldn’t be overrated.

It is known that, the prices of the companies are out of the race on the first day. The prices of the company are made high for the first two to three days by to increase the price artificially they buy the share on behalf of the company. IPO investors take the advantage and sell the share at the high rate. And it left a negative effect in the stock market.

According the source of DSE, last year, 41 times more applications are received for the 10 take a share of Khan Brothers Company Limited. That company did transaction of 76.6 taka on the first day. That means investors got 60 taka profits in each share. That same year Hamid Fabrics came into the stock market with 35 taka but the share sold in 56 taka, Western Marine of 35 taka was sold on 62 taka, Saif Power tack of 30 taka was sold on 72 taka. Matin Spinning of 37 taka was sold on 42 taka, 10taka’s Far Chemical was sold on 56 taka, and share of Khulna Spinning was sold on 37 taka that was of 10 taka only. Besides, shares price of companies like Shurid and C&A Textiles increased hundred times more on the first day. But the situation changed in a few days. The share price of the company came down than the allotted prize.

According to the final source of DSE, the prices of the companies that came in the stock market in the last year like Paramount Textile, The Peninsula Chittagong Limited, Fareast Knitting and Dying Industries Limited and Orion Pharma are now less that the allotted prize. And the share price of the Hamid Fabrics Limited, Matin Spinning Mills, Argon Denims are close to the allotted price. For that, investors are being damaged.

According to DSE, there was an application of 833 crore 78 lakh and 20 thousand taka for the IPO of Khan Brothers PP Oven Bag Limited that enlisted in the stock market last year. This was 41 times more than the demand for each share of the company. There were nine times more in the share of Hamid Fabrics. But in the Western Marine Shipyard the application was 2.68 times more than the demand. The Saif Powertech 9.5 times, Matin Spinning 6.59, Far Chemicals 76.22, Khulna Printing 7, Fareast Knitting 6, Shurid 44, Jahin Spinning 47, Ifad Auto 16, Sasha Denims 5.5, C&A Textile 20.5, Tung Hiye 23, Sahji Bazar Power 20, Ha well 44, Emareled 39 and AFC Agra got 58 times more application for IPO on each share than the demand.

Executive director and spokesmen of Stock Market controlling agency Bangladesh Securities and Exchange Commission (BSEC) said companies are given approval for IPO after maintaining a long legal process. Investors get plenty of time after approving that the company is good or bad. But the investor invests without seeing anything. If the company was bad, then the investor surely doesn’t invest in the company’s IPO.

 Nominal Companies are taking money from the Stock Market

[via allbanglanewspaper]