Russian risks bear down on oligarch Fridman

MOSCOW (Reuters) - Mikhail Fridman once seemed omnipotent as one of the elite group of Russian businessmen who amassed vast fortunes and huge political influence under President Boris Yeltsin in the 1990s.

More than a decade after Vladimir Putin succeeded Yeltsin and started reining in the oligarchs, Fridman is on the defensive as a new generation of businessmen snatch up assets and the Kremlin reasserts control over the economy.

His call for a divorce from BP, his partner in Russia's No.3 oil firm TNK-BP, and the $5 billion sale of his stake in mobile firm MegaFon are widely seen as evidence that he is following other oligarchs by cutting his exposure in Russia.

"There's a new generation of oligarchs - their horizon is longer - and then there's the earlier generation that are tired or see the writing on the wall," said one senior source in the Moscow business community. "I don't think that the Fridmans of this world will be living in Russia in 10 years."

Fridman, 48, usually avoids publicity but rebutted suggestions that he is ready to throw in the towel in a rare newspaper interview after he quit last week as CEO of TNK-BP.

"Why do I need cash? So I can sit by the seaside or go for a sail?" he told Russian business daily Kommersant. "I've got nothing against sailing - it's an excellent activity - it's just not for me."

BP's subsequent announcement that it may sell its stake in the 50-50 joint venture triggers a lengthy sale procedure that gives a Fridman-led quartet of billionaire shareholders an initial chance to offer to buy the British oil major's stake.

But with ex-deputy premier Igor Sechin - last month named CEO of state oil major Rosneft - waiting in the wings as a potential buyer, industry watchers do not rule out an exit by the oligarchs, who own their stake through the AAR group.

A gradual withdrawal by BP from TNK-BP was one option, Fridman said in the Kommersant interview, while a sale by AAR that included partial payment in BP stock was another.

EMPIRE BUILDING

Fridman started out with a window-cleaning business as the Soviet Union collapsed, ushering in the rampant capitalism in which a few people were able to quickly build business empires.

He went on to amass a wide range of assets from oil, banking, retail and telecoms sectors, buying up Soviet energy assets on the cheap and staking a string of wagers on the emergence of a free-spending Russian middle class.

With a fortune estimated by Forbes at $13 billion, Fridman's Alfa Group owns a 25 percent stake in TNK-BP, a near 25 percent voting stake in mobile firm Vimpelcom, and just under 50 percent in leading food retailer X5. Fridman also owns 36 percent of Alfa Bank.

Fridman's empire has become increasingly international, which some observers say reflects a desire to spread risk out of Russia. Capital flight out of Russia has been high, blamed in part on a lack of confidence in the country's respect for property rights and on persistent, rampant corruption.

Fridman is described as intelligent, ruthless and cynical. During his tenure as CEO, TNK-BP entered Vietnam, Venezuela and Brazil. He backed Vimpelcom's costly and controversial expansion into markets such as Africa, to the chagrin of Norwegian partner Telenor, which favored a Russian-focused strategy.

In April, he agreed a deal to sell out of Megafon, Russia's No.2 phone company, which is eyeing a London IPO. Kremlin-friendly oligarch Alisher Usmanov won control in the deal and later sold an interest to a state-linked company.

Observers say Fridman may also at some point seek a sale of X5, which has struggled since the firm's CEO, Lev Khasis, left last year to join U.S. retail giant Wal-Mart.

"There is a general view that he seems to be looking to divest out of Russia and more internationalize his business," said another source in the Moscow financial community. "I think he's always wanted to do that."

Fridman was not available to comment for this article.

CORPORATE FIGHTS

Ukraine-born Fridman's success has not come without picking fights or making enemies. He has placed himself on the other side of the battlefield to two of the largest investors in Russia - Telenor and, more significantly, BP.

The BP saga pitted Fridman against Sechin, who personally masterminded an Arctic exploration pact and $16 billion share swap between BP and Rosneft announced at the start of 2011.

The AAR consortium - made up of Fridman, German Khan, Viktor Vekselberg and Len Blavatnik - blocked the deal in the courts, arguing that it violated the TNK-BP shareholders agreement requiring BP to do business in Russia through the venture.

"AAR embarrassed Sechin and Putin when that didn't work out. And revenge is best served cold," said a further source in the Moscow business community who declined to be named.

But insiders caution against underestimating Fridman's ability to manipulate outcomes in his favor.

"Fridman has plenty of his own connections in the government," said a source who has worked with him on several projects. "It will not be easy for Sechin to go against him. Putin is not all-powerful."

Others praise Fridman for political diplomacy.

"I think he's been good at being apolitical; he has systemically important businesses in all sectors, and he's a good corporate citizen," said a senior financial source in Moscow.

NEW TYCOONS

Among oligarchs from the Yeltsin years, former tycoon Mikhail Khodorkovsky is in a Russian jail, while Boris Berezovsky fled to London in 2001 after falling out with Putin.

Vladimir Potanin remains extremely powerful, with his Interros investment company holding about 30 percent of Norilsk Nickel, the world's biggest palladium and nickel producer.

Among those who rose later, Mikhail Prokhorov, who amassed his wealth during Putin's years, holds vast aluminum, gold and banking assets.

In recent years, however, a new breed of tycoons with closer ties to Russia's current leaders has emerged, like construction tycoon and former Putin judo partner Arkady Rotenberg, oil trader Gennady Timchenko, and more recently, Summa Group, the trading group founded by Ziyavudin Magomedov.

Summa has been particularly aggressive in striking deals. In the last month alone, it has agreed deals to buy a stake in Russia's state grain trader and control of transport group FESCO.

Summa's telecoms arm also emerged on Wednesday as a potential bidder in Russia's forthcoming round of fourth-generation mobile licenses, posing a challenge to a group of incumbents that includes Fridman's Vimpelcom.

(Editing by Douglas Busvine and Will Waterman)

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Bernanke has few options as economy slows

Mark Wilson / Getty Images

Federal Reserve Chairman Ben Bernanke will appear before Congress' Joint Economic Committee Thursday morning.

By Martin Wolk

Updated at 2:25 p.m. ET: Federal Reserve Chairman Ben Bernanke is likely to express deep concern about the deteriorating global economy Thursday, but it?s not clear he can do much about it.

After nearly four years of pumping trillions of dollars into the economy through unprecedented easing of monetary policy, Bernanke and his colleagues appear increasingly divided over the wisdom of doing much more.

Bernanke will make his views clear in an appearance on Capitol Hill Thursday. Several central bankers have expressed reluctance to take further action even after last week?s dismal U.S. employment report and a growing economic crisis that has thrown the future of the eurozone into question.

Dallas Fed President Richard Fisher said Fed policymakers "must keep their heads about them" after the rash of weak data and resist trying to solve economic problems with more monetary stimulus. "Short of an implosion, I cannot support further quantitative easing," he said in a speech in Scotland.

James Bullard, president of the St. Louis Fed, took a more wait-and-see attitude. ?The outlook for 2012 has not changed significantly so far,? he said in a speech.

"A change in U.S. monetary policy at this juncture will not alter the situation in Europe,? he added.

While Bullard and Fisher currently have no vote on the Fed?s policymaking Open Market Committee, their comments echo those of voting member Sandra Pianalto, president of the Cleveland Fed, who also has not seen enough to convince her that further policy action is required.

"I don't think this employment report, in and of itself, is likely to lead to a substantial change in my outlook,? she told The Wall Street Journal. ?Consequently, it would not lead me, at this time, given what I know about my outlook, to change my position on policy."

On the other side is Charles Evans, president of the Chicago Fed, who said the employment report has only increased his conviction that the Fed needs to act.

"With huge resource gaps, slow growth and low inflation, the economic circumstances warrant extremely strong accommodation," Evans said this week in remarks prepared for delivery to the Money Marketeers of New York University. ?Failure to act aggressively now will lower the capacity of the economy for many years to come."

The crisis in Europe is largely beyond the ability of U.S. policymakers to control but has created growing nervousness on financial markets. Stock prices, which have been under heavy pressure, soared Wednesday in part on news that European policymakers were working on plans to rescue Spain?s banks, although Madrid has not yet requested such assistance.

But while the European crisis must be resolved in Europe, the Fed has a dual mandate to keep inflation low while maximizing employment.

On that front there is little for Bernanke to be proud of. While the unemployment rate has gradually dropped from a peak of 10 percent in 2009 to its current 8.2 percent, job growth has all but stalled.

After adding more than 500,000 jobs in the first two months of this year the economy has added a mere 289,000 in the past three months, not even enough to keep up with the nation?s growing working-age population, much less lower the unemployment rate.

To be clear, the U.S. economy has not fallen off a cliff. The Fed's Beige Book report released Wednesday, to be used as a guide at the June 19-20 meeting of policymakers, describes economic growth showing signs of "modest increase."

In any case, the question is what more the Fed can do.?Short?term interest rates already are near zero, as they have been since December 2008. The Fed already has promised to keep interest rates at current exceptionally low levels ?at least through late 2014.?

The options are limited. The most aggressive action discussed, another round of so-called quantitative easing, would involve the central bank buying billions of dollars worth of long-term securities, bringing down longer-term interest rates. Rates on 30-year mortgages already are at record lows, typically under 4 percent, and analysts do not expect the Fed to announce such a move when they meet later in the month.

Another less aggressive bond-buying program, dubbed Operation Twist, is due to end this month although the Fed could extend or modify it.

So-called Fed ?hawks,? like Fisher, worry about the potential for sparking inflation down the road if the Fed continues its highly aggressive easy-money policy.

Tony Crescenzi, a longtime Fed watcher and portfolio manager for bond giant Pimco, says Bernanke and fellow policymakers are likely to keep using the central bank?s ?bully pulpit?? to signal their willingness to act if needed, despite the obstacles.

?I think as long as they convey that idea, that they will do more and that they are activists, whether or not they act it won?t be immediately consequential to markets,? he said.

One factor working in the favor of so-called ?doves? like Evans, is that inflation does not seem to be a major threat right now, especially with oil prices tumbling.

More from msnbc.com business:

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CNBC's Rick Santelli weighs in on the Federal Reserve and reforms that can bring about growth and control costs. "Who's the big cheese? The big cheese isn't Ben Bernanke. The big cheese isn't Mario Draghi. The big cheese is Wisconsin," he says.

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Family of 6 dead in plane crash in Florida swamp

By Louis Casiano Jr.

A father, mother and their four children died when a small plane crashed in a remote rural area of Florida Thursday afternoon, officials said.

The Polk County Sheriff's Office said the Pilatus PC-12/47 aircraft went down in the Tiger Creek Swamp near Lake Wales around 12:30 p.m. The area is southeast of Lakeland in central Florida.

The victims were listed as the aircraft's pilot, Ronald Bramlage, 45, Rebecca Bramlage, 43, and their four children. Officials have located the bodies of three of the children and were still searching for the fourth, the Sheriff's Office said in a statement..?

The aircraft was owned by Roadside Ventures LLC of Junction City, Kan. Ronald Bramlage was the owner of Roadside Ventures, authorities said.


The plane took off from the Treasure Cay airport in the Abaco Islands in the northern Bahamas and made a stop at the St. Lucie County International Airport in Fort Pierce, Fla., to clear customs. The plane then took off for Junction City at 12:05 p.m. with two adults and four children on board, authorities said.?

Officials said the plane began to break apart over southeast Polk County and crashed.?

The crash area is in a remote area and the Polk County Sheriff's Office used helicopters to fly in law?enforcement?and medical personnel.?

Parts of the aircraft were found as far as two miles away from the crash site. Officials say that the parts separated before the crash and that the plane was traveling at 26,000 feet when it began?experiencing trouble.??

The victims were listed as the aircraft's pilot, Ronald Bramlage, 45, Rebecca Bramlage, 43, and their four children. Officials have located the bodies of three of the children and are still searching for the fourth.?

The cause of the crash has not been?determined.

The plane had been owned by Casey Anthony's?former?attorney,?Todd Macoluso, and is the same one that was used the night she was released from jail after her trial, the The Palm Beach Post reported. Macoluso may have sold the plane earlier this year, the Post said.

Ronald Bramlage was the grandson of Fred Bramlage, the namesake of the Bramlage Coliseum at Kansas State University, NBC station KSNW of Wichita, Kan., reported. Rebecca Bramlage was?president of the Junction City Board of Education. Both were graduates of Kansas State.

University President Dr. Kirk Schulz and Athletics Director John Currie released a statement:

"We are shocked and saddened by the tragic news of the deaths of Ron and Becky Bramlage and their children today. The Bramlage family holds a special place in the history of Kansas State University and K-State Athletics, and Ron and Becky have been loyal supporters and great fans of K-State. Our thoughts and prayers are with the Bramlage family during this difficult time."?

More content from msnbc.com and NBC News:

Follow US News on msnbc.com on Twitter and Facebook

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The One Big Illusion ? Empowering Your Mind

by Robert Middleton

I talk a lot about ?Marketing Mindset? in the More Clients eZine.

It?s because what I notice that stops people from effectively marketing their services is rarely the technical components of marketing, such as networking, speaking and writing.

No, it?s all the thoughts, emotions and attitudes that prevent us from implementing these things.

The greatest illusion is that virtually nobody, including you, dear reader thinks this is the case. Everyone thinks it?s one of the following reasons why they are not good at marketing:

1. I don?t know what to do or how to do it.

2. I am just not the marketing type.

3. Marketing doesn?t work for my kind of business.

4. I don?t have the time to do marketing.

5. Most marketing leads to rejection, anyway.

6. Marketing is an interruption that irritates people.

7. If people need what I have, they?ll call me.

OK, so I?m willing to bet that if you are not having much marketing success, that you believe at least four out of seven of the above statements.

What nobody realizes is that these are not statements of ?fact.? Far from it. Every single one of them is a mindset. What I mean by a mindset is an ?established and fixed attitude held by someone about something.?

And mindsets literally construct your reality. They shape your thoughts, feelings and behavior. And they appear to be true, so true in fact that they are almost never questioned.

A mindset acts much like a hypnotic auto-suggestion.

You say it, think, it believe it, feel it, and act consistently with it and then have evidence to back it up that it?s true. You are so identified with your mindsets that to you they are not mindsets at all, they are the unvarnished truth.

And if that?s all true, you are in a real pickle, because how can you escape from a mindset that you don?t even think it a mindset? How can you wake up from a dream that you are totally convinced is reality?

Well, first of all, you need to accept that maybe, just maybe, what I?m saying might be true. You just might be stuck in mindsets that are holding you back from marketing yourself successfully and that nothing external whatsoever is holding you back.

Tough to accept, I know.

The next thing to notice is that when you identify with a particular mindset, how does it make you feel? Does it make you feel alive and excited, full of opportunity and promise?

Or not?

I don?t think so. These, what I call ?constrictive mindsets? feel stressful in some way. They feel like excuses, they feel like cop-outs, they feel that they are opposing your goals to get the word out and make a difference in the lives and businesses of your clients.

Let?s just take the somewhat benign mindset: ?I don?t have time to market my services.?

Not too inspiring, right? You may be able to justify it, but it?s not fulfilling, is it? No, it feels frustrating. It?s a statement of defeat. It certainly isn?t motivating you to get out there; it?s stopping you in your tracks, often before you even start.

So if expressing a mindset feels that way, you know something you didn?t know before: That mindset is a lie. It?s not true. It never was and never will be.

It?s a lie that you don?t have time to market yourself.

And look at what happens when you believe that lie. You make excuses, you avoid doing things, you don?t organize your schedule to fit in marketing. In fact you do everything in your power to justify that mindset, despite the fact that it?s not helping you one iota.

Can you see that?

Well, what if you could no longer identify with that mindset anymore? I mean, what if you couldn?t even think that it was true? Even if you have a lot of other priorities and were very busy, you couldn?t believe it was true anymore.

Then who would you be? How would you react? How would you behave?

Wouldn?t it be completely different from how you?re reacting now? Wouldn?t you find a way to fit some marketing activities into your schedule? Wouldn?t you stop making lame excuses? Wouldn?t you stop looking for ?the perfect marketing opportunity? and just do what you could, such as follow up with that prospect you?ve been avoiding?

The first step in all this is to identify those mindsets that are holding you back. What are you always telling yourself about marketing? And how are you feeling about those thoughts? If you?re not feeling great, then they?re probably lies.

So take a little time to look at the consequences of those lies. Are they undermining you, holding you back, making you small, preventing you from getting what you want?

If that?s the case, the good news is that there?s such a thing as expansive mindsets. And in the realm of marketing you may not be so familiar with them.

Expansive mindsets get your creativity flowing, enable you to see opportunities, open up new possibilities and make you take risks that feel fun and exciting.

Let?s turn around that mindset list:

1. I can learn what to do and how to do it.

2. I?m the type who can share the value of my services.

3. I can find a way to market my services appropriately.

4. I can find the time to do marketing.

5. Marketing can lead to people who need my assistance.

6. Marketing can we a welcomed conversation.

7. If people need what I have, I can follow-up with them.

Aren?t these possibly just as true, maybe truer than the original list? One thing is for sure, they feel better, don?t they? Well, then try them out and see where they take you.

Copyright 2012 Robert Middleton
All Rights Reserved

By Robert Middleton of Action Plan Marketing. Please visit Robert?s web site at www.actionplan.com for additional marketing articles and resources on marketing for professional service businesses.

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The Significance of Online Gaming Communities ? Yapperz - Speak ...

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RUSH Power Windows music review by AtomicCrimsonRush

3 starsOverpowering 80s synths create an underwhelming experience.

After 10 glorious studio albums, 5 of which were revered as masterpieces, Rush produce this and the 80s swallow them whole and they spit out an album that really is not great. I love Rush but have to take stock when they produce this type of non-prog radio friendly matter. There is too much mediocrity and forgettable material on this album that mars an otherwise great experience.

Well, I guess I better focus on the highlights. It certainly begins well with the great rocking 'The Big Money' which has a fantastic melody and there is Lee slappin' de bass. Lifeson is terrific on lead guitar and Peart keeps a consistent tempo that drives it along. The presence of synths is overpowering but it works well enough. The production on the album is treble turned to the max and sounds a bit gutless in the bass department. It is 80s to the max and as a result thins out the heaviness replacing it with crystalline clean textures which is not a good thing for Rush. A bit of dirty guitar would not have harmed the sound but all is restrained and Lee hardly troubles his distortion pedal.

'Marathon' is a wonderful song with an exceptional melody and I love this most of all I think on this album. the lead break is killer and if only they would stick to this formula. I mean we all love hearing Lifeson blaze away on his guitar, don't we? The synths are dominant but here it works beautifully. The chorus is one of the all time great Rush melodies. It has a majestic sound and I can never tire of that uplifting tune. Thank heavens for songs like these which save this album from a very low rating.

'Territories' is another one I have rarely heard but it has a cool drum beat and ethereal synths. It sounds unique on the album, as the music is played differently using subtle variations of instrumental style. Lee sounds very good on vocals. Lifeson's guitars are pitchier and he plays more aggressively especially on the riff leading to the second section. The melody is well executed and overall I really like the song, though is not well known.

Now for the songs that are not so good, and there are too many of them for my comfort. 'Grand Designs' is downright filler material, dull and drenched in synthesizers. There are loud chimes of guitar and it all seems so happy and upbeat and as a result annoying. The Partridge Family were never this happy. 'Manhattan Project' is a forgettable song but at least it rocks, the treble is so thin it hurts my ears though. Man, where is the bass sound, guys? Lee's vocals are overdone and really I would rarely return to this mediocrity.

Rush's overuse of synthesizers on songs like 'Middletown Dreams' and 'Emotion Detector' have not dated well though I am sure in the 80s it blew everyone's socks off. No? Oh well. 'Middletown Dreams' is so crystal clean, sudsy and streamlined you can clean the bathtub with it. The sound screams 80s and the synths are just overpowering throughout. It is little wonder why they don't bother to play this song live anymore, they would clear the building. In all fairness Rush are a product of their time back in the 80s and it is easy to criticise but I only wish they had taken it easy on the radio friendly synth pop. Heck, even Ultravox were darker and heavier than this.

'Emotion Detector' continues in the same vein, synths to the wall and crystal clean pitchiness to blow your ear muffs off. The jangly guitar is relentless but at least the synths are not so demanding. The sound is crisp and happy but at this point I could have done with a distorted blast or a blistering riff, and none are forthcoming; the band are not interested, as they are now sons of the 80s and damn the critics and die hard fans.

'Mystic Rhythms' saves the day with a great closer, not to the standard of the opening tracks but still very good. The electronic percussion makes me take notice of Peart who has been in the background. The melody is better here, the synths are in the background, except for those interminable trumpet blasts. This still has a great feel overall especially the chorus.

"Power Windows" is not the worst Rush album but like "Hold Your Fire", "Roll The Bones" and "Presto" it is among them. Thankfully the 80s would soon be over and Rush would come out the other side with a heavier sound that made them so great in the 70s. 4 decent tracks so it deserves at least 3 stars but of course you would be better off getting hold of any of the previous 10 albums if you want to hear Rush at their absolute best.

AtomicCrimsonRush | 3/5 | 2012-6-5

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Just What is Attachment Parenting? : Ideas for Women Home and ...

Attachment Parenting is everywhere but what is it exactly? If you are like me and in the dark no worries, I did all the research for you (or at least most of it.) I could very technical and tell you that attachment parenting is a philosophy that is? based on principles of attachment theory.? The whole idea is that children form a strong emotional bond with parents during childhood with lifelong consequences.

Attachment Parenting is simply where you bond with your child through breastfeeding, sharing a bed, and taking cues from your baby as to their needs. The breastfeeding and sharing a bed is usually long-term Many of the mothers that believe in and practice Attachment Parenting will tell you all of the benefits such as a much closer bond with their child. I have read where some parents believe it leads to a mutual shaping of behavior and personality.

On the other side of the coin is the parents who think that the Attachment Parents are a bit strange. They will list all the cons such as it is not recommended that you share a bed with your baby because it increases their risk for SIDS. I could go on and on but in the end it is really up to the mother.

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New Telecom and IT Tools Should Also Be New BC/DR Tools ...

The changes to business continuity/disaster recovery (BC/DR) driven by the many trends impacting telecom and IT have been significant ? and quite positive. There simply are more tools available than there were a generation ago.

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The NationalJournal, perhaps because of the start of the hurricane season, offers a well-done story looking at the impact of social media on emergency preparedness. The story keys off the devastating tornados that hit Joplin, Mo., just over a year ago. Despite the fact the piece is aimed at consumers, there is nothing in it that isn?t appropriate for businesses, especially smaller ones.

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The piece tells of how Facebook was used to alert people of the impending storms. It suggests that The Federal Emergency Management Agency (FEMA) is a bit behind in its use of social media, but that it is moving in the right direction:

The agency is using established social-media channels, including Facebook, Twitter, and YouTube, to push out information, but it still faces challenges in interacting with independent social-media users in a disaster. ?Traditionally, public information officers have a comfort level with specific credentialed news outlets,? Fugate said. FEMA must still convince longtime professionals to expand their view of media relations to include social media.

The business view is presented in this NewsFactor piece, which details a study by AT&T. The study found a 12 percent increase in business continuity planning. The total now is 83 percent. The study said that 86 percent have a plan in place, an increase of 8 percent over the past half-decade. New technologies are being put to good use by these organizations:

Mobile security services and cloud computing have become major parts of current contingency plans, according to the study. Sixty percent of respondents are investing in mobile security services, and 38 percent are making investments in cloud computing.

Network Computing?s story on the survey adds that 40 percent of respondents are investing or are considering to invest in cloud computing for disaster recovery.

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ZDNet reports on a Symantec study that says about one-third of companies with five to 250 employees who use public or private clouds for backup do so to be prepared for a data disruption. The company said that this is a ?moderate to large? driver of these services. The other major driver, the story says, is to better support mobile workers.

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The bottom line is simple: There are a lot of new tools in the hands of organizations. These extend from those under purely IT control, such as virtualization, to user-driven social networking and mobility. Each of these brings a dimension to BC/DR that was absent before. Companies that don?t have plans should make them and prominently include cloud, virtualization, mobility and social networks in those blueprints. Those that have plans but don't include these new approaches should rewrite them accordingly.

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