AMI Swaps CFOs Again

first_img“In Dean Durbin, we have an executive whose financial knowledge and insight will be as important to the company going forward as Jack’s talents were in getting us to where we are today,” added Richard Bressler, managing director at Thomas H. Lee Partners, who, along with Evercore Capital Partners, are AMI’s principal shareholders., “I can’t thank Jack enough for the tremendous job he did at AMI. Thomas H. Lee Partners, together with Evercore Capital Partners, are the principal shareholders in AMI.It has been widely reported that AMI is coveted by Source Interlink, the company controlled by supermarket billionaire Ron Burkle’s Yucaipa Cos.—and that the deal has thus far been hampered by AMI’s financial reporting deficiencies.Pecker thanked Craven for “[guiding] us through the restatement process and [bringing] our required filings up to date.”In May, Source Interlink bought Primedia’s enthusiast titles for $1.2 billion.According to Pecker, AMI’s financial performance in its current fiscal year is its “strongest in recent years,” with Shape, Men’s Fitness and Star generating the “largest advertising revenue in their respective histories.” The company has also generated significant improvements in bank EBITDA, Pecker says. American Media Inc., a company with a habit of missing financial filings, has replaced its chief financial officer, possibly in advance of a long-rumored sale.Dean Durbin, a former CEO at Vertis Communications and a b-to-b publishing veteran of Thomson and McGraw-Hill, has been named executive vice president and chief financial officer, replacing Jack Craven, who resigned this week. Durbin becomes AMI’s sixth CFO in four years. Craven will now serve as a consultant to AMI, according to the company.Durbin’s experience in M&A seems to have been a key reason he was hired.”Dean has wide-ranging experience in financial reporting and analysis, strategic planning, forecasting, Sarbanes-Oxley compliance, mergers, acquisitions and divestitures, and I expect that he will be an excellent addition to our senior management team and a contributor to our continued success,” said AMI Chairman and CEO David Pecker in a statement accompanying Durbin’s hiring announcement.last_img read more

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US powers up attacks against Russias electrical grid

first_imgA US Army cadet during a cyberdefense exercise. CNET The US military’s Cyber Command has gotten more aggressive than ever against Russia in the past year, placing “potentially crippling malware” in systems that control the country’s electrical grid, says a report. Made possible by little-noticed legal authority granted last summer by Congress, Cyber Command’s strategy shift from a defensive to offensive posture is meant in part as a warning shot, but it’s also designed to enable paralysing cyberattacks in the event of a conflict, The New York Times said Saturday, quoting unnamed officials.The agency’s actions can now be OK’d by the defense secretary without a special presidential thumbs-up, the Times said. And the recent moves appear to have taken place under a military authorization bill Congress passed in 2018 that gives the go-ahead for “clandestine military activity” in cyberspace to “deter, safeguard or defend against attacks or malicious cyberactivities against the United States.”The more-aggressive stance comes amid worries about Russian interference in the 2020 US presidential election, but strategies and concerns around cyberwarfare have been ramping up for some time. Red flags have included Russia’s shutdown of part of Ukraine’s power grid in 2015, as well as reports that a Russian government-sponsored group ID’ed as Dragonfly or Energetic Bear had been able to gain access to the control rooms of US electric utilities in 2017. Cyber Command also received new authority last year from the US president under a still-classified document called National Security Presidential Memoranda 13, the Times said. The agency’s “Russia Small Group” tapped that authority to, among other things, “overwhelm” computers used by the Internet Research Agency, the Russia-backed group indicted by the US Department of Justice for a campaign of fake news and trolling during the 2016 election.The Times said Cyber Command is concerned Russia could trigger selective power outages in key states during the 2020 election and that it needs a way to discourage such attacks. But the agency and the US have to consider their moves carefully in this international game of cyberchess.”The question now is whether placing the equivalent of land mines in a foreign power network is the right way to deter Russia,” the Times report says. “While it parallels Cold War nuclear strategy, it also enshrines power grids as a legitimate target.”Cyber Command didn’t respond to a request for comment.In related news, Bloomberg reported Friday that a Russia-linked hacking group that shut down an oil and gas facility in Saudi Arabia in 2017 has been probing utilities in the US since late last year.Originally published June 15, 11:26 a.m. PT.Update, 11:33 a.m.: Adds mention of Bloomberg report. UN chief seeks international rules for cyberwarfare Comments Tags 8center_img Related story Share your voice Security Politics Hacking Militarylast_img read more

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US secret space plane in skies followed by California earthquake conspiracy theorist

first_imgRepresentational image | ReutersA few days back, Ralf Vandebergh, a Dutch astronomer captured the image of X-37B, a secret US space plane that has been conducting secretive experiments in the skies since September 07, 2017. The Dutch astronomer also revealed that this secretive space plane was spotted after searching vigorously for many months. Just two days after the discovery, two strong earthquakes, measuring 6.4 and 7.1 in the Richter scale hit Southern California.Now, Tyler Glockner, a popular conspiracy theorist who runs the YouTube channel ‘Secureteam10’ has suggested that the spotting of X-37B and the strong tremors could be an indication of the US government’s secret weather control program.”The moment these double earthquakes began down Los Angeles and the surrounding areas, we happened to see this highly classified reconnaissance space plane floating by in the general area of space. Theories already abound that some sort of HAARP weapon is being tested to create said earthquakes or somehow manipulate the underground tectonics to manifest said earthquakes,” said Glockner in a recent video uploaded to YouTube, Daily Star reports.The video uploaded by Glockner has already gone viral on the internet, and within 24 hours, it has racked up more than 2,38,000 views. After watching the video, viewers of Secureteam10 also shared their opinion regarding the theory put forward by Tyler Glockner.”These earthquakes felt like they were being remote controlled or something, didn’t feel like the natural earthquakes I’ve experienced in the past,” commented KnownCharacterMen, a YouTube user.”You have been deceived. Earthquake? Sonic blast in earth’s fault line is man-made. California is earmarked as a national park. They want you gone,” commented John Dory, another YouTuber.However, self-proclaimed seismic researcher Frank Hoogerbeets has a different story to tell. As per Hoogerbeets, it is a critical planetary alignment which is causing the rise in seismic activities on the earth. Hoogerbeets believe that a megaquake which may measure more than 8 in the Richter scale will hit the planet on July 10, 2019.last_img read more

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Civil Rights Attorney Premieres New Wrongful Convictions Doc

first_imgBy Lauren E. Williams, Special to the AFROOn May 31, TVOne held a private screening of its newest series, “Evidence of Innocence,” at the Internet & Television Association’s movie theater in Washington, D.C. The screening was followed by a panel discussion featuring acclaimed civil rights attorney Benjamin Crump, who also served as a narrator for the series.Other panelists present to shed light on wrongful convictions and inequities in America’s criminal justice system were Rushion McDonald, executive producer of the new series; Tia A. Smith, executive in charge of production and senior director of programming and production for TVOne; Chanta Parker, special counsel for new initiatives for the Innocence Project; Mike Fletcher, senior contributor for ESPN’s The Undefeated and Linda Lipsen, CEO of the American Association for Justice. The panel was moderated by Roland Martin.From left to right: Rushion McDonald, executive producer of the new series; Tia A. Smith, executive in charge of production and senior director of programming and production for TVOne; and Ben Crump, noted civil rights attorney.Airing every Monday in June, “Evidence of Innocence” is a four-part limited series aimed at raising awareness about inequities within America’s criminal justice system. It is a hour-long crime documentary that tells uplifting, yet unknown, stories of individuals who were convicted of offenses they did not commit and the journey they endured to obtain justice and get their lives back. The victims highlighted in the show include Lisa Roberts, Richard Miles, Melanie Ware, and Mark Schand.“We not only show the injustices, we also let them speak in first person telling their own stories so that you would know this [story] comes from them,” Smith told the audience of about 30. “It was important for us to show the resilience of everyone that participated with this which is so synonymous with our community and culture.”While there are four voices featured on TVOne’s new series, statistics show these voices are far from being alone. According to a 2017 report by the National Registry of Exonerations, a total of 166 wrongly convicted people were declared innocent in 2016.  And TIME Magazine reported, on average, there are more than three exonerations per week—more than double the rate in 2011.Also alarming is the racial disparities found in wrongful convictions. According to the same report, while African Americans make up only 13% of population, they constituted 47% of the 1,900 exonerations listed in the National Registry of Exonerations as of October 2016.“Go into any courtroom in America, sit in the back of it and you will see justice is anything but equal,” Crump told a crowd following the screening.  “We have to acknowledge that they want to justify or legitimize putting Black and Brown bodies in the prison industrial complex. Now with this administration – I thank God for TVOne – for putting out a counter narrative out there. We have Jeff Sessions in the Department of Justice saying ‘let’s do the most that we can do to put people in prison.’ So, I thank God for this show at this time in America.”last_img read more

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Elections for GTA twotier Panchayat to be held by end of 2019

first_imgDarjeeling: Elections to a two-tier Panchayat and the Gorkhaland Territorial Administration (GTA) will be held by the end of this year.The announcement came from Binay Tamang, former chairman of the Board of Administrators, Gorkhaland Territorial Administration. “The state government is in the process of reviewing the GTA Act. As soon as the review process is over, elections to the GTA will be held. Following this, the delimitation process of the blocks will take place,” stated Tamang. Also Read – Rs 13,000 crore investment to provide 2 lakh jobs: MamataAt present there are 8 blocks in the Hills. There has been a long-standing demand of bifurcating the blocks into 12 blocks for administrative ease. “With the completion of the delimitation process, election to the two tiers of Panchayat will be held in the Hills,” added Tamang. Incidentally, with the formation of the Darjeeling Gorkha Hill Council in 1988, the three-tier Panchayat system prevalent throughout the country was replaced by a two-tier system in the Darjeeling Hills by amending the Indian Constitution in 1992. Also Read – Lightning kills 8, injures 16 in stateIn the Darjeeling Hills, the last Panchayat election was held in 2000, with the then GNLF party under Subash Ghising objecting to Panchayat elections in 2005, alleging that the Panchayat was diluting the powers of the Darjeeling Gorkha Hill Council (DGHC). Since then, Panchayat elections have not been held in the Hills. Later, the DGHC was replaced by the GTA. The Gorkhaland Territorial Administration Act clearly talks of a three-tier Panchayat system in the GTA area.last_img read more

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