Intel avoids outsourcing embrace, investigates hack of results



FILE PHOTO: An Intel Tiger Lake chip is displayed at an Intel news conference during the 2020 CES in Las Vegas, Nevada, U.S. January 6, 2020. REUTERS/Steve Marcus/File Photo

January 25, 2021

By Stephen Nellis and Ayanti Bera

(Reuters) – The incoming chief executive of Intel Corp said on Thursday that most of the company’s 2023 products will be made in Intel factories but he sketched a dual-track future in which it will lean more heavily on outside factories.

The lack of a strong embrace of outsourcing from new CEO Pat Gelsinger drove shares down 4.7% after hours. Shares rose 6.5% during regular trade, when the results were released ahead of the close. The company said it was investigating “non-authorized” access to some of the results, with the Financial Times quoting its chief financial officer as saying the microchip maker had been hacked.

Intel also forecast first-quarter revenue and profit above Wall Street expectations, continuing to benefit from pandemic demand for laptops and PCs that have powered the shift to working and playing from home.

Gelsinger said he was “confident that the majority of our 2023 products will be manufactured internally” though he also said the use of outside chip factories is likely to increase “for certain technologies and products.”

Intel has been considering since last July whether to drop its decades-old strategy of both designing and making chips by turning for help on its central processing units, or CPUS, to “foundry” manufacturers. Those partners could be Taiwan Semiconductor Manufacturing Co and Samsung Electronics. Intel’s manufacturing technology, called a 7-nanometer process, is expected in 2023.

“We didn’t get our answer on which foundries and when,” said Patrick Moorhead of Moor Insights & Strategy. “They pushed the can down the road.”

Kinngai Chan, analyst at Summit Insights Group, said Intel is not likely to outsource its flagship chips.

“Intel’s 14-nanometer chip transistor speed has always been faster than what any foundry can offer even at 7-nanometer,” Chan said. “We believe it will increase its use of external foundries over-time – just not for its large-core CPUs.”

Keeping manufacturing in-house means higher investments. Bernstein analyst Stacy Rasgon questioned whether Gelsinger, currently the chief executive of VMware Inc who previously spent 30 years at Intel and announced his intention to return just last week, has had sufficient time to dig into the issue.

“It was pretty obvious they were trying to borrow his credibility” when Gelsinger endorsed Intel’s delayed 7-nanometer technology, Rasgon said.

Intel’s decision coincides with U.S. lawmakers having passed bipartisan legislation to fund U.S. chip manufacturing. But the new law has yet to specify funding levels or recipients, and Forrester Research analyst Glenn O’Donnell said Intel might take the opportunity to solicit U.S. government support for domestic manufacturing.

Boosted by a new high-end PC processor, Intel regained some momentum in the PC market, with volumes of PC chips rising 33%, faster than the 26% rise for the overall PC market, according to data from IDC.

Data center group sales, which powered Intel’s growth over the past several years, were $6.1 billion compared with analyst estimates of $5.48 billion, according to FactSet data.

But sales to cloud computing customers, some of the largest and fastest-growing purchasers of data center chips, were down 15% in the fourth quarter. Data center chip operating margins were 34% in the quarter, down from 48% a year earlier.

“We think (data center) operating margins are going to improve as we get toward the second half of the year, when we expect to see a rebound in cloud” chip sales, Intel Chief Financial Officer George Davis said.

The company also raised its dividend by 5%.

The chipmaker said it expects fiscal first-quarter adjusted sales of $17.5 billion and adjusted earnings per share of $1.10, both ahead of analyst consensus, according to IBES data from Refinitiv.

Fourth-quarter revenue of $20 billion and adjusted earnings per share of $1.52 also beat Wall Street targets.

(This story refiles to correct spelling of nanometer in paragraph 10)

(Reporting by Stephen Nellis in San Francisco, Ayanti Bera in Bengaluru and Peter Henderson in Oakland; Editing by Sriraj Kalluvila, Diane Craft and Grant McCool)



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Melbourne Demons willing and able to embrace hub life this season


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While AFL players could spend most of the season in interstate hubs because their sport is their only job, this is not the case for most AFLW players.

However, Stinear said his players had already spoken to their other employers about interstate hubs and most would be able to enter them.

“The majority of our players have the flexibility to move into a hub or interstate for a period of time, that would be OK with their employers and family life,” he said.

“It would only impact one to three players in the group.

“It would have more of an impact on staff with young families, they might have work and [have] family responsibilities.

“But we have enough depth with players and staff we will find a way to make it work.”

Meanwhile, the Demons have come up with an interesting way of improving their scoreboard accuracy.

In partnership with sponsors Zurich, Melbourne will donate a footy equipment pack to a community club for every goal they score, in a “Goals for Good” campaign.

“Last year we were third for shots on goal but we finished as one of the lowest ranked teams for accuracy and efficiency inside 50,” Stinear said.

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“Fremantle and North Melbourne from last year were consistently able to kick high scores, we want to be able to match it with them, the best.

“It’s about contributing and having an impact more than in just the game, so when we finish the season we aren’t just defined by win/loss. We can have a more meaningful say in the community.”

Players will nominate the clubs that get the packs but clubs can also apply to be a part of the initiative.

“When the goals start coming the players will head to those clubs to present the packs and getting involved in training,” he said.

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Victorians embrace holiday plan B – and sweat on refunds for plan A


“We spoke to [NSW] Fair Trading and just got to the point where we didn’t know what we could do.”

The group secured the boat after a family from NSW cancelled due to the pandemic – though, of course, Victoria’s restrictions mean it cannot be moored on the NSW bank.

The family made good on their deal to rent their own home, in Bells Beach, to another family. (They spent the night before their Echuca escape at a friend’s). Ms Meagher fully refunded several others who had to cancel stays in the small Airbnb they have on their property.

While people who have lost sometimes thousands of dollars to holiday service providers struggling with their own financial pain, those who spoke to The Sunday Age said they are well aware 3000 Victorians stranded in NSW are worse off.

Nevertheless there is frustration and confusion at the lack of consistent policies.

The Corsham family, from Melbourne, booked two short holidays for January, a week in a two-bedroom Airbnb in Coogee and another in Byron Bay. The Byron provider immediately offered a credit note but the Coogee owner said the booking was “non-cancellable”.

They amended this to an offer of a 50 per cent refund minus an admin fee.

“I decided we were better off cutting our losses and asked for the refund, which turned out to be 50 per cent of $3900 minus a ‘management fee’ of another 22 per cent. So they were keeping 72 per cent,” said Harry Corsham.

“Nobody’s a winner here, pretty much everyone’s a loser; the way the state governments are responding is very unpredictable when it comes to border closures.”

He was eventually offered a credit and the family of five will go next year. Meanwhile, as plan B, they found a house to let in Jan Juc for a week with friends.

A spokeswoman for Consumer Affairs Victoria said it had been receiving increased reports regarding holiday accommodation since mid-December.

In Victoria if travel or accommodation cannot be provided for reasons beyond both parties’ control providers must refund money, minus reasonable expenses.

A spokesman for NSW Fair Trading said since both providers and would-be holidaymakers were doing it tough in the pandemic, it was trying to balance the interests of both.

Sue Albert, of Surrey Hills, was pleasantly surprised to be given money back voluntarily by the NSW owner of a property in Jindabyne, which her family and another were using as a base for five days of cycling adventures around Thredbo over the New Year’s break.

On day three, some of the group were cycling and some were making a New Year’s Eve spread when frantic relatives began contacting them saying they had to get back to Victoria.

“The phone started and just didn’t stop with people saying, ‘You’ve got to get out of NSW before midnight’ … It felt like an emergency evacuation,” she said.

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“There was a huge thunderstorm predicted … we had to pack up, leave $100 worth of half-prepared food for New Year’s Eve there, throw everything into suitcases and load two cars up with nine people and seven bikes and drive two hours over the top of Mount Kosciuszko through torrential rain.”

They made it to the border after a harrowing drive but could not find anywhere to stay in or around Beechworth so drove to Melbourne, arriving at 2.45am.

The riders arrived “with mud still all up their legs”, such was the haste of the departure.

“It was probably 48 hours before we felt like, ‘OK, what just happened?’ The people who rented us the house for $2500 for five nights were lovely enough though to give us $1000 back.” The gesture was appreciated as the family headed off for a less eventful second holiday, at more accessible Ocean Grove.

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Company leaders should embrace ‘infinite mindset’ and share their struggles — motivational speaker


Simon Sinek, author and motivational speaker, said that it is important for leaders to recognize when they are suffering through trauma and to be open about it. Being seen as a perpetual optimist can backfire, he said, because other team members may feel like they’re doing something wrong.

“Ask for help and be there for others,” said Simon Sinek, author and motivational speaker, in his first blog post for 2021, which listed the silver linings and lessons that came out of 2020. “No one has the emotional strength to avoid the pain of trauma, and the way COVID-19 turned lives upside down is a trauma,” Mr. Sinek’s post continued.

The sentiment was a throwback to a talk in which Mr. Sinek—a person described as an unshakeable optimist—shared that he was not impervious to the trauma caused by the pandemic. 

At the Adobe Experience Makers 2020 event, he recounted that he began feeling off his game four months into the pandemic: His sleep pattern was disrupted, he didn’t want to get out of bed, and he started having one unproductive day after another. 

“I had to come to the realization that I was depressed,” Mr. Sinek said. “I was very uncomfortable with that word because it sounds like a diagnosis with a capital D.” He followed the advice of his friend in the military and faced his trauma by asking for help instead of avoiding it. “Though you may not be feeling it now, 100% of us have gone through trauma—which means that 100% of us are going to have to deal with the emotional cost of this trauma at some point.” 

It is important for everyone, he added, especially for leaders, to recognize when they are suffering through trauma and to be open about it. Being seen as a perpetual optimist can backfire, said Mr. Sinek, because other team members may feel like they’re doing something wrong.

Recognizing that everyone is going to go through trauma also leads to greater empathy across the board, which in turn makes it easier to offer help when needed.

PLAYING THE INFINITE GAME

At an organizational level, adopting an infinite mindset that also realizes that people are at the center of business will help leaders get through the other side of COVID-19. The mindset is based on theologian James Carse’s idea of finite versus infinite games. 

According to Mr. Carse, a finite game has known players, fixed rules, and is played for the purpose of winning. An infinite game, on the other hand, has both known and unknown players, changeable rules, and is played for the purpose of continuing the play.

From education to career, life is a series of infinite games, said Mr. Carse. A business likewise isn’t about beating the competition or being number one. It’s about staying in the game as long as you can, recognizing that your one true competitor is yourself, and improving year after year.

“We have ahead moments and behind moments, but we’ll never win or lose unless we fall out of the game,” said Mr. Sinek. “When the crisis hit, a total of zero companies woke up in the morning with an attempt to beat their competition. It literally didn’t matter anymore. Everybody woke up trying to stay in the game.”

HAVING A JUST CAUSE 

A crisis reveals the strengths and weaknesses of certain facets such as culture and leadership. It also reveals which mindset a company has. Those with a finite mindset, according to Mr. Sinek, tend to panic because all thinking happens in the past. These companies put themselves at the center of the equation and ask, “How are we going to survive? How are we going to make money?” 

Infinite-minded companies, meanwhile, are those that embrace uncertainty and pivot to address present challenges. They are customer-focused and say, “We have something valuable that people want. We have to find new ways to deliver.”

The motivational speaker added that having a just cause gives people a North Star, something to look towards and innovate against. Having a sense of purpose will allow a company to focus on the light at the end of the tunnel, a.k.a. the direction that matters. “That’s essential for driving innovation. We don’t want to innovate in every direction.” — Patricia B. Mirasol 








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Embrace Being a Beginner Rather Than an Expert


 

On this episode you’ll hear about how meditation can help you have the mind of a beginner. Not someone that’s naïve; but someone who’s alive, awake, and present in your day to day life.

 

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NSW must embrace hate to repeat 2005


The last man to help NSW poach the State of Origin shield on Queensland turf has one simple message for the current Blues: Embrace the cauldron.

Brad Fittler’s men will aim to become just the third NSW team to win a decider in the Sunshine State and the first since 2005.

Back then, Anthony Minichiello was the star, named man of the match and handed the Wally Lewis Medal as player of the series.

Minichiello still lists the match as one of his favourite Origin memories, having roomed with Andrew Johns in the build-up before the historic win.

The fullback pulled the decisive play, breaking free after six straight sets on the Blues line early in the match before they silenced the crowd with a 32-10 win.

An early silence that Minichiello still believes is crucial at Suncorp.

“We had to withstand a huge onslaught, we did that, and we went on to win that game,” Minichiello said.

The Origin story since then is well known: Four deciders in Queensland for four Maroons wins.

In 2007 and 2009 the Blues couldn’t even force live third rubbers, claiming rare wins at Suncorp Stadium in what were dead matches.

The next decider there in 2011 was over inside 35 minutes when Queensland sprinted to a 24-0 in Darren Lockyer’s farewell.

In 2012 it was a Cooper Cronk field goal that killed the Blues off five minutes from fulltime, before a 52-6 humiliation in the 2015 decider.

Most then thought 2017 would be the year for NSW, particularly after they won Game I in Brisbane.

But when it came to the crunch and after an injured Johnathan Thurston saved the Maroons in Sydney, Suncorp was again their fortress in the decider.

“Queensland is such a rugby league state,” Minichiello said.

“They love it, and are really parochial as fans.

“That stadium, the way it’s built the energy flows within it. It doesn’t flow out.

“It really gives them an extra boost There is no doubt about it.”

There are however echoes of the 2005 side in this current Blues team.

Assistants Danny Buderus and Craig Fitzgibbon were part of that NSW side, while coach Brad Fittler played in NSW’s only other successful Brisbane decider in 1994.

Very few current players carry Suncorp Stadium scars, with only James Tedesco and Tyson Frizell having lost a decider there before.

“We really embraced going to Queensland and winning under their crowd,” Minichiello said.

“We embraced it, loved it and wanted it. And I think that’s what Freddy (Fittler) will create as well.

“Let’s win Origin on their turf. Let’s take the Shield off them at their home ground.”

On the other side of the border, Suncorp still remains hallowed turf to even the game’s greats.

The likes of Cameron Smith remember the aura of playing on it as a 12-year-old in a schoolboy game, with that same spirit seeping through to his record 20 Origins there.

“Every Queenslander understands the magnitude of this place and then the history,” Smith said.

“I remember having people throwing XXXX Gold cans on the field when Wal (Lewis) got binned (in 1988).

“For me, it was always about the history and what the Queensland side had actually achieved on that lovely turf and wanting to go out there and replicate it.”

Now he hopes his own legacy and that of Lockyer, Thurston, Greg Inglis, Billy Slater and co can motivate the current crop.

“It meant a lot to me and the guys that are playing now, they probably watched those teams that dominated,” Smith said.

“I’d like to think they’d have the same mindset on Wednesday night when they turn up here.”





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Regional Victoria and Melburnians embrace as COVID-19’s ‘ring of steel’ falls


Melbourne woman Sarah Vincent was on the road with her family well before the crack of dawn today as Victoria’s “ring of steel” was lifted.

Over four months, Ms Vincent and millions of friends and family members were kept apart by the separation of greater Melbourne and the rest of the state, enforced at the height of the state’s coronavirus crisis to limit travel.

On Sunday at 11:59pm it was finally relaxed, and Melburnians and regional Victorians came together on Monday for the first time since July.

“We know so many people have missed those they love the most, those they need to see and have been desperately keen to see for such a long period of time,” Premier Daniel Andrews said.

Ms Vincent had not seen her mother, Wodonga resident Jennie Johnson, in six months — aside from the odd message or video call.

The escape to the north-east Victoria also meant her two-year-old son Blake would have more space to play and spend precious time with his grandparents.

“It felt so good to see my mum and have a cuddle. I’ve been waiting a long time for it,” Ms Vincent said.

“It’s been very difficult, especially with a little one and not being able to have everyone around.

“I had a lot of mental health issues being in lockdown all the time, I couldn’t go anywhere.”

Emotional reunion for mother and daughter

Jennie Johnson said she was on the verge of tears when she saw her daughter pull into the driveway with her young family after counting down the hours.

Family stand closely together at front of house holding toddler in arms
Sarah Vincent, partner Justin and their two-year-old left as early as they could to see her parents.(ABC Goulburn Murray: Mikaela Ortolan)

“We’ve been hanging out for this, it’s been very difficult not being able to see them all,” Ms Johnson said.

The family said they planned to go on picnics, visit the shops, and spend some quality time together.

“Blake seeing his grandparents is a massive thing, and him being able to be a kid and run around having fun, getting muddy, and not being locked down,” Ms Vincent said.

“It’s so different out here. It’s like I can breathe again.”

Surf trips and waiting to see family

Melbourne woman Zoe told ABC Radio she was headed for Anglesea this morning for a surf at long last.

She told Virginia Trioli’s Mornings program it “felt like life was coming back”.

“It looks like it’s going to be heaven,” she said.

Three police officers at a coronavirus checkpoint on a highway.
The checkpoint between regional Victoria and Melbourne is no more.(ABC News: Simon Winter)

Kate from Ballarat said she was looking forward to seeing her son this weekend, having been separated for five months.

She said the most frustrating thing had been tough restrictions in areas of the state where there had been few cases.

“We’ve been waiting for Melbourne to open up, we’ve had very low numbers. Some areas in the western region have had none,” she said.

“You’ve got little businesses that are struggling because we’re waiting for the whole state to be on par, and that’s the hardest part.”

Family reunites for wedding anniversary

The timing of the Government’s decision could not have been better for Gordon Bahn from Leongatha in South Gippsland.

An elderly man, an elderly woman and an adult woman standing together against a wall
Gordon Bahn, his wife Gillian and their daughter Diane were reunited today after the internal border was removed.(Supplied: Gordon Bahn)

Mr Bahn and his wife Gillian today celebrated their 52nd wedding anniversary with their daughter Diane and granddaughter Zoe who travelled from their home in Melbourne’s south-east.

He said it was “lovely” to see his family for the first since June.

“One of the things that Diane wanted to come down for was to wish us a happy anniversary,” Mr Bahn said.

“And Zoe loves to do her cooking, so she cooked us a little cake for our anniversary, that was very enjoyable, and just an enjoyable time to have them here together.”

But he said he did not have plans to travel to Melbourne to see his other grandchildren while there was still a risk of catching coronavirus.

Clinical GP says ‘take it easy’

Australian mental health service Beyond Blue received hundreds of thousands of phone calls from Victorians seeking support over the past four months.

Among the main queries received were concerns about isolation, general uncertainty, job losses, and not being in touch with family and friends.

Beyond Blue’s lead clinical advisor Grant Blashki said with the state now open again there was a great feeling of enthusiasm and relief as people could reunite.

“There’s obviously a lot of joy and relief, but I’m also seeing mixed emotions,” Dr Blashki said.

“There’s a bit of apprehension — particularly older members of the community who have lost confidence and are nervous, and also those who may be dealing with anxiety getting back out there.

“I think a lot of regional people not having access to tourist dollars has been a really big hit and they’re excited to see people visit again.”

Dr Blashki said it could be tough for some people affected by the lockdown and separation moving forward.

“I’m suggesting people take it slow, particularly those who have had anxiety or stress.”

For Beyond Blue’s Coronavirus Mental Wellbeing Support Service call 1800 512 348.



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AFL Grand Final 2020: Dustin Martin, Damien Hardwick embrace, hug, video | Norm Smith Medal voting


It must feel like there’s a thousand people to hug when the siren blows on a grand final victory – and when you’ve had more to do with that win than anyone else the line of people looking to acknowledge you is longer than the wait for a night grand final to start.

That person was Dustin Martin on Saturday night after the Richmond champion was a unanimous choice for the Norm Smith Medal after kicking four magical goals.

Martin claimed all five three-point votes as the unanimous winner of the best on ground award as Richmond beat Geelong by 31 points in Brisbane.

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The Tigers have now claimed three titles in four years, coming from 22 points down just before halftime to topple the Cats.

But in the decider of a season unlike any other, it appeared the 12.9 (81) to 7.8 (50) win meant more than most.

While there have been plenty of questions over whether the 2020 season would be tarred with an asterisk in the history books, one final eye-catching moment from Martin said it all.

After first hugging Jack Riewoldt and joining a group of teammates in a pack embrace, Martin spotted his coach Damien Hardwick entering the field.

He made a beeline for his mentor, almost brushing off a couple of others who had charged from the sidelines to reach the man who has led him to the highest of heights.

The look on the face of Martin when he embraced Hardwick must have touched the hardest of hearts before he lovingly rested his head on his coach’s shoulder.

After being quarantined in the AFL bubble for nearly 110 days, the emotion was palpable.

media_cameraDustin Martin looked near tears when embracing his coach.

After the medal presentation, Martin still didn’t know what to say.

“It still doesn’t feel real,” he said on Channel 7. “I don’t know what to say. I’m just so grateful to be a part of such an unbelievable group. I’m lost for words to be honest.

“It’s been a tough road. I couldn’t be prouder of the way we faced a bit of adversity this year and the way we stuck at it. That’s why we’re a great club.”

Martin became just the second player behind Barry Cable to have 20 disposals and multiple goals in three Grand Finals, as he booted four majors to go with 21 touches.

The result sees Martin become the first three-time winner of the Norm Smith Medal after a virtuoso performance.

He kicked his first major to get the Tigers back into the game after dropping 22 points behind in the second quarter.

Martin also landed a massive goal to snatch the lead in the third term, before wrapping it up with two late goals in the fourth, kicking from beyond the 50m arc into an empty goalsquare with just under eight minutes left before snapping around the corner to make it a 30-point game with a minute remaining.

Social media went insane for the biggest of big game players as he came up huge again.

2011 Brownlow Medallist Dane Swan said: “There is now clearly no doubt about it now that Dustin is the greatest big game player ever. Him and Jordan sit at the same table.”

Newcastle Herald deputy editor Xavier Mardling tweeted: “Clearly the best of Dusty’s three grand finals, I reckon. Hope (Jordan) De Goey is watching. That’s how you earn big money.”

AAP journalist Michael Ramsey added: “Dusty stamps himself as the player of his generation. Incredible and pretty much the difference between these two teams”.

Dustin Martin — take a bow.
media_cameraDustin Martin — take a bow.

NORM SMITH VOTING

15 – Dustin Martin (Richmond) – 33333

6 – Jayden Short (Richmond) – 222

4 – Shane Edwards (Richmond) – 1111

3 – Mitch Duncan (Geelong) – 21

2 – Nathan Broad (Richmond) – 2

Originally published as Dusty lets guard down, wins hearts





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