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Mobile Parental Controls - Protecting Our Children from Sexting, Spam and other Dangers

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Teenagers and children are becoming large adopters of mobile applications and mobile data. With mobile devices now offering a wealth of information, teens are gaining more access to inappropriate …

Teenagers and children are becoming large adopters of mobile applications and mobile data. With mobile devices now offering a wealth of information, teens are gaining more access to inappropriate content as well as increasing access to social networking sites -- with the possibility of access to a world of unknown persons. This presentation will look at some of the solutions in the market that are designed to protect consumers against sexting, cyber-bullying, spam, and other malicious behavior.


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  • 1. U.S. Aging Infrastructure Which Sectors are Primed for Private Investing Growth? Ken Herbert Bernice Lee V.P./ Partner Consultant Business & Financial Date Business & Financial Services Services June 2, 2009
  • 2. CONTENTS 1 Market Overview 2 Public – Private Partnerships 3 Infrastructure Sector Focus 4 Conclusion 2
  • 3. Infrastructure Investing At-a-Glance  Infrastructure investing has always been a sector of interest for investors for its stable and long-term returns  Recently, a few major factors have combined to push infrastructure investing to the forefront: CREDIT CRISIS LACK OF GOVERNMENT AGING INFRASTRUCTURE In the midst of a credit crisis, FUNDING Current ASCE estimation of investors are eyeing Obama’s stimulus package $2.2 trillion over the next five infrastructure – a stable source allocates $72 billion to years is needed for of return infrastructure infrastructure PRIVATE CAPITAL Public-private partnerships are essential to bridge the gap between government funding and infrastructure need 3
  • 4. Infrastructure Definition Facilities, systems and equipment required to provide public services and support private sector economic activity Transportation Infrastructure, Regulated Infrastructure, Communication Infrastructure, Social Infrastructure Transportation Infrastructure Regulated Infrastructure Bridges Electricity Transmission and Tunnels Distribution Rails Oil and Gas Pipelines Transit Water Airports Waste Water Seaports 4
  • 5. Global Infrastructure Opportunity UK & Europe: USA: • For the EU, OECD estimates 4 trillion Euros will be • ASCE estimates $2.2 needed with the bulk for the water sector trillion needed over five • Estimate of 100 billion Euros of Public-Private years for infrastructure Partnerships (PPPs) have been entered into in UK, Italy, • Government stimulus Spain, Portugal, France package allocate $72 •UK leads the PPP market while Europe continues to billion for infrastructure develop •Infrastructure asset China: privatization is slower • Chinese government stimulus compared to other package of $586 billion stimulus countries (mainly to infrastructure, rural) India: • Plans to spend 8% of GDP a year on infrastructure projects Rest of World: • Latin America will need to invest $100 billion a year for the next 20 years for its infrastructure Australia: •South America’s biggest infrastructure needs are roads, • Infrastructure deficit is estimated at A$20 bridges, waterways and ports to help lower cost of billion exporting • Australia is one of the first countries to •Africa’s infrastructure needs are estimated at $75 billion embrace PPPs and expanding access to a year with power being the greatest infrastructure private infrastructure funds challenge Source: ASCE, World Bank, Reuters 5
  • 6. Global Infrastructure Private Equity Growth In the face of the Global Infrastructure Funds Raised liquidity crisis private $ in billions infrastructure funds were able to raise close to $25 billion $35.0 $30.0 $25.0 $20.0 $34.3 $15.0 $24.7 $10.0 $17.9 $5.0 $5.2 $2.4 $0.0 2004 2005 2006 2007 2008 Currently 77 Infrastructure Funds are Seeking $92 Billion in Committed Capital Four Out of The Top 10 Funds are U.S. Based – Seeking $19 Billion Source: Probitas Partners 6
  • 7. A Sample of U.S. Based Infrastructure Funds Fund Manager Fund Size Sector Interest GS Infrastructure GS Infrastructure Roads, airports, regulated gas, water & $7.75 billion Investment Group Partners II electrical utilities Citi Infrastructure Transport, utilities, energy, social Citi Infrastructure Investors $4 billion infrastructure Partners No sector focus given but current and Kohlberg, Kravis Roberts KKR Infrastructure past investments include: energy, waste $4 billion & Co. Fund management Bridges, tunnels, toll roads; pipelines, JP Morgan energy transmission and distribution; JP Morgan Asset Infrastructure $3.1 billion water and waste water systems; Management Investments Fund airports, seaports; rail; contracted power generation Roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas Alinda Capital Partners Alinda Infrastructure transportation, storage and distribution; $3 billion LLC Fund II power generation and electric transmission; and utility services for residential, commercial and industrial customers Transportation, energy and utilities, Morgan Stanley Morgan Stanley communications, social infrastructure $1.4 billion Infrastructure Partners Infrastructure Fund 7
  • 8. Infrastructure Investing Outlook By Sector Profitability High Rail & Mass Transit Power & Clean Energy Waste Water Management High Growth Low Opportunity Seaports Airports Bridges & Tunnels Roads Low 8
  • 9. Market Forces Driving Infrastructure Investing Stimulus package by U.S. Government States are cash- Independence of starved infrastructure -heightened need assets from for private business cycle investment risk FACTORS Pension funds Aging U.S. ideally matched infrastructure AIDING for infrastructure investing U.S. PRIVATE EQUITY INFRASTRUCTURE INVESTING The Strong Market Dynamics Will Push Growth in Infrastructure Investing A Growth Rate of 14-18% is anticipated 9
  • 10. U.S. Infrastructure Funding Need by Sector 2009 ASCE U.S. Infrastructure Report Card $ in billions Aviation D Bridges C Dams D Drinking Water D- Energy D+ Hazardous Waste D Inland Waterways D- Levees D- Rail C- Roads D- Solid Waste C+ Transit D Waste Water D- Overall D Other includes: Parks & Schools $1.2 trillion over 5 Years is Needed via Private Capital Source: ASCE 10
  • 11. U.S. Government Stimulus Package $72 Billion Stimulus Package Designated for Infrastructure Source: Committee on Appropriations Summary 11
  • 12. CONTENTS 1 Market Overview 2 Public – Private Partnerships 3 Infrastructure Sector Focus 4 Conclusion 12
  • 13. Public – Private Partnerships $2.2 trillion $975 billion Estimated Amount Needed U.S. Government Funding of For U.S. Infrastructure Infrastructure Need (Actual Improvements Over Five Spend plus Stimulus Package) Years $1.2 trillion Significant Gap in Funding Public – Private Partnerships (PPP) PPPs have the greatest advantage to tap private capital. 13
  • 14. Public – Private Partnerships  The 2010 administration budget provides a National Infrastructure Bank to expand public-private sector spending • Initial funding expected to be $5 billion and increase to $25 billion by 2019  The federal stimulus package will also give help to pension funds by creating investment opportunities for their infrastructure allocations • CalPERS • In the past CalPERS grouped its infrastructure investment with other alternative assets such as private equity • CalPERS has stated it would allocated up to $7.2 billion for infrastructure with a net target return of 5% over inflation over a period of five years  Successful examples of PPP investing • In 2006, leasing of the 75 year old Indiana Toll Road for $3.8 billion to Statewide Mobility Partners and Macquarie Infrastructure Partners • In March 2009, Florida closed a $1.6 billion concession to develop toll lanes on I-595 with Madrid-based ACS Infrastructure Development 14
  • 15. Public – Private Partnership Outlook Over half of U.S. states have legislation authorizing PPPs transactions for  Long-term leasing of existing infrastructure  New development of transportation infrastructure Examples of Current Deals in Development California’s Port of Oakland: 50 year $700 million transaction to specific port facilities with Ports America Group Wisconsin’s Mitchell International Airport: Investigating feasibly of a long-term lease to raise $1 billion for transit system over 50 years Wisconsin’s Water Works: In an effort to reduce city tax increases and budget cuts, the hope is to raise more than $500 million for leasing of water system 15
  • 16. Potential Risks to U.S. Infrastructure Investing U.S. Government regulations could hinder private investment in infrastructure projects Extent of time to bring a project to fruition could also miss the window of opportunity of viable investors The slow evolution of PPPs in the U.S. could see investments moving towards other parts of the world U.S. Government reallocation of infrastructure budget and resources to other higher priority initiatives 16
  • 17. Infrastructure Investing Outlook Credit Crisis Factors Political Factors Economic Factors  Opportunities are  U.S. Government fiscal  Independence of available for the budget shortfalls are infrastructure assets savvy and apparent disciplined investors from business cycle risk – relatively  Combined with budget recession resistant  Increasing ROI due shortfalls, the increasing to price moderation awareness of failing  Tangible, real assets infrastructure leads to are more attractive if  Less leverage more PPP opportunities available global stimulus leads to inflation  President Obama administration is focused on infrastructure and clean energy 17
  • 18. CONTENTS 1 Market Overview 2 Public – Private Partnerships 3 Infrastructure Sector Focus 4 Conclusion 18
  • 19. Municipal Water and Wastewater Infrastructure • Strict drinking water and effluent quality regulations Forecasted five- year CAGR is are forcing utilities to 7.04% upgrade current systems. Current Size of • Increasing U.S. population Market emphasis North American growth is forcing on water reuse market is $2.74 and recycling municipalities to consider billion Municipal Water and Wastewater expanding current Market Dynamics facilities. • Gap between investment Municipalities for required for infrastructure EPA estimates and safe drinking investment of $390 water face $11 development and funds billion for waste billion shortfall this received by EPA is water municipalities year constantly increasing. Current funding is only $6 billion. 19
  • 20. Municipal Water and Wastewater Infrastructure Expansions Triggered by Market Enhancers Population Growth & Upgrades & Drivers Consumption Improvements Sizeable Needed Customers/Scale Efficiencies Technology Enhancements Market Inhibitors Reliance on Self- Budgetary Sufficiency Performance Operational Restraints Failures Cost * Length of arrows indicate impact and relevance of driver / constraint 20
  • 21. Power Generation Infrastructure • The U.S. Government fiscal package allocates $32 billion Forecasted five- to transform energy systems year CAGR is by allowing for smarter and 3.9% improved grid and focusing investments on renewable Current Size of 70% of technology. North American transmission and market is in power excess of $750 transformers are • There is an existing gap billion Power Generation 25+ years old between production and Market Dynamics consumption of electricity due to limited capacity— hence need for new investments. Future investment is 60% of circuit estimated at $900 breakers are 30+ • Developments in renewable billion over next 15 years old years energy generation are expected to drive power generation infrastructure investment. 21
  • 22. Power Generation Infrastructure Market Enhancers Aging Power Increasing EPAct 2005 Environmental Drivers Increase in Power Renewable Plants Tax Benefits Demand Regulations to Energy to Boost & Incentives Reduce Air Turbine Pollution Development Market Inhibitors Insufficient Increased Capacity Lack of Raw Power Project Material Financing Costs (Steel, Due to Long Copper) Payback Period * Length of arrows indicate impact and relevance of driver / constraint 22
  • 23. Airport Infrastructure • Capacity issues will either push airports to expand or Forecasted five- new airports to be built – a year CAGR is 5% clear indication of the future outlook of the airport Over the past 30 industry. Current size of years passenger North American air traffic has market is $15-20 increased seven- • U.S. airports will billion Airport Industry fold continually be facing a Market Dynamics fluctuation of demand, and at the same time receiving modest funding increase. FAA estimates U.S. government $49.7 billion is stimulus package • There is a clear required for allocates $1.3 opportunity given the gap infrastructure billion in funding development in the of government funding and next five years the need for private investors. 23
  • 24. Airport Infrastructure Market Enhancers Air Traffic Drivers Growth Operations Capacity Asset Efficiency Real Estate Management Commercial Management Revenues Market Inhibitors Safety & Security Congestion & Requirements Sunk Costs Slot Crises & Allocation Risk * Length of arrows indicate impact and relevance of driver / constraint 24
  • 25. Roads Infrastructure • Passenger and commercial travel on U.S. highways Forecasted five- continue to increase every year CAGR is year. between 5 - 6% • The American Recovery and 34% of roads are Reinvestment Act only U.S. highway road in poor or system is valued allocates $27 billion for mediocre at $1.75 trillion roads. The Highway Trust condition Road Industry Fund has a balance of $16 Market Dynamics billion, mostly derived from user fees. The funding gap needs to come via private investment. 36% of roads in the ASCE estimates U.S. are continually $186 billion per year congested costing • PPP toll road establishment is needed for road $63 billion in time development and wasted fuel has been proven in the U.S. (ex, Chicago’s Skyway, Orlando Orange County Expressway) 25
  • 26. Roads Infrastructure Passenger and Market Enhancers Commercial Travel Aging Private Drivers Growth Investment via Increased Highway Toll Roads Population System Road Growth Congestion Market Inhibitors Road Safety Requirements Increased Continual Lack of Maintenance Fuel Costs Prioritization Expense by Government on Road Rehabilitation * Length of arrows indicate impact and relevance of driver / constraint 26
  • 27. CONTENTS 1 Market Overview 2 Public – Private Partnerships 3 Infrastructure Sector Focus 4 Conclusion 27
  • 28. Conclusion  Strong growth is anticipated for private infrastructure investing due to the $1.2 trillion shortfall between:  An estimated $2.2 trillion over 5 years is critical for upgrading/replacing current U.S. infrastructure  $975 billion U.S. Government is spending on infrastructure projects  Priority will be given to projects that are in need of “gap funding”  Public – Private Partnerships have the greatest advantage to penetrate private capital  Over half of states have legislation authorizing PPPs with other states seeking approval of pending legislation 28
  • 29. For Additional Information • To leave a comment, ask the analyst a question, or receive the free audio segment that accompanies this presentation, please contact: Jake Wengroff Global Director, Corporate Communications (210) 247- 3806 jake.wengroff@frost.com. • Follow Frost & Sullivan on Twitter http://twitter.com/Frost_Sullivan 29