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...across our company. This is completely in line with the principles of openness, transparency and accountability that are at the heart of how we're re-energizing our organization. We expect charges of 900 million euros [$1.4 billion] in our second quarter, based on the results of a thorough review and audit of turnkey and other similar projects. This is a painful but necessary step toward getting our businesses moving forward faster. It's also a step that will bring about a "no surprises, no excuses" Siemens culture going forward...
...seedbed for little magazines, the American soil is fertile but thinly spread," wrote TIME almost 60 years ago to the day. "Last week a cluster of new ones bravely poked their heads above ground. The most promising was Hudson Review, edited by three young Princeton alumni." Well, ahem, we know how to call it. THE HUDSON REVIEW puts out its 60th-anniversary edition this month, celebrating its longevity with a concert at the Guggenheim Museum and a book, Writes of Passage. The Review, which promised at its inception not to "open its pages to those whose only merits...
...seven-year-old Mindcrest, which has its headquarters in Chicago and employs 440 lawyers in Mumbai and Pune. "Lawyers are a risk-averse group, so it was a slow process for them to adopt the idea," says George Heffernan, vice president and general counsel. Mindcrest's services include document review, research and support for compliance functions. The last cost large companies an average of $2.9 million each in 2006, according to Financial Executives International in Florham Park...
Changes in litigation procedures are boosting momentum in the LPO trade. Amendments to federal rules require parties to share electronic documents, such as e-mail and Microsoft Office files. That typically means both sides must review thousands of documents to prevent the inadvertent disclosure of confidential information to the other party. The service costs about $1 per page in India but can range from $7 to $10 per page in the U.S. "Some clients don't want to spend that much, especially if they don't even know how much their damages could be," says Conrad Jacoby, owner of efficientEDD...
DuPont saved $500,000 in 2006 by outsourcing paralegal work to Chicago's RR Donnelley, which uses facilities in India and the Philippines to review documents for the chemical giant, says Thomas Sager, DuPont's chief litigation counsel. "There's been some internal resistance, and from the outside too, about working with providers thousands of miles away. But geographic separation is now a fact of life," says Sager...