Software

choi

(1) Ted Mann, GE Will Invest in Expanding Software Business. Wall Street Journal, June 24, 2016.
http://www.wsj.com/articles/ge-b ... industry-1466718971

Quote:

"GE began its push into software and digital offerings in 2011 when it opened offices near Silicon Valley and began hiring hundreds of software engineers.

"Its digital business [whose revenue: 'the $6 billion-plus it is expected to bring in this year'] is still small compared to sales of its jet engines, power turbines, locomotives and medical scanners. GE’s industrial operations had revenue of $108.8 billion in 2015. It has added 5,500 new developers in the past few years and plans to add 2,000 more by year-end. Its total digital workforce is around 28,000 globally, a fraction of its 333,000 total employees.

My comment; There is no need to read the rest, which is not informative (ambition is one thing). This is report is a snapshot of GE's pivot to software.

(2) Lindsay Gellman, Goldman Sachs Rebuffs the Ivy League. Wall Street Journal, June 24, 2016.
http://www.wsj.com/articles/gold ... -efforts-1466709118

Quote:

"Goldman said Thursday that its recruiters will no longer conduct first-round interviews for summer positions on campus at elite schools like Harvard, Yale and Stanford University. Instead, all candidates for summer analyst positions must complete a video interview, answering prompts from a software program.  While a seemingly minor administrative change, the move alters a rite of passage in finance, in which students don suits and ties for interviews with recruiters or alumni employees.

"Videos will be reviewed by Goldman’s recruiting team and the bank will invite those who make the cut to one of its offices for a day of in-person interviews, called “super days.” The hope, executives say, is that opening up interviews to a wider field of candidates will turn up people passionate about a long career in finance, executives said.

"During their first-round interviews, undergraduates will have to use a video-recruiting software program to answer prompts, said Mike Desmarais, global head of recruiting. Later, the footage will be reviewed by a human, he said.

My comment:
(a) "Harvey Schwartz, the firm’s finance chief [chief financial officer, 2013- ], is an alumnus of Rutgers University."
(b) To me, it is not clear to me whether the report talks about undergraduates or graduate students. Fairfield University (private, Jesuit, located at Fairfield, Connecticut) has a MBA program also.
(b) I am more interested in how "answering prompts from a software program" is done.