<p>BOSTON (Reuters) - Police and emergency crews around Boston scrambled to clean up after a violent storm, including a possible tornado, blew through the region on Monday, downing power lines, flooding roads and overturning cars, local officials said.</p>
<p>The National Weather Service said it had sent a team of meteorologists to the city of Revere, Massachusetts, outside Boston to investigate a possible tornado.</p>
<p>Revere police reported extensive damage to homes and trees but no injuries after the violent weather. Boston and cities to its northeast reported extensive street flooding from the storm, which dropped rain at the rate of 1.5 to 2 inches per hour, the National Weather Service said.</p>
<p>Photos of the flooding and aftermath from the storm are coming in on Twitter and Instagram. Here's a few:</p>
<p><iframe width="612" height="710" frameborder="0" src="//instagram.com/p/q_zdC8Dkqb/embed/"></iframe><iframe width="612" height="710" frameborder="0" src="//instagram.com/p/q_yaVABALT/embed/"></iframe><iframe width="612" height="710" frameborder="0" src="//instagram.com/p/q_zhDng1P8/embed/"></iframe></p>
<p>The damage in some areas is severe:</p>
<blockquote class="twitter-tweet" lang="en">
<p>Another from Revere (courtesy: <a href="https://twitter.com/festa88">@festa88</a> ) <a href="http://t.co/y3tPqS7Iod">pic.twitter.com/y3tPqS7Iod</a></p>
- Catherine Parrotta (@CParrottaFox25) <a href="https://twitter.com/CParrottaFox25/statuses/493781402652262402">July 28, 2014</a></blockquote>
<script async="" src="//platform.twitter.com/widgets.js" charset="utf-8" type="text/javascript"></script>
<blockquote class="twitter-tweet" lang="en">
<p>My yard in revere <a href="https://twitter.com/universalhub">@universalhub</a> <a href="http://t.co/M1PH3VyBaj">pic.twitter.com/M1PH3VyBaj</a></p>
- Tina (@Tubawood) <a href="https://twitter.com/Tubawood/statuses/493777720602816513">July 28, 2014</a></blockquote>
<script async="" src="//platform.twitter.com/widgets.js" charset="utf-8" type="text/javascript"></script>
<p>(Reporting by Scott Malone; Editing by Bill Trott)</p>

Boston Suffers Extensive Damage And Flooding After Severe Storm Hits [PHOTOS]

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5485b5116bb3f7c929771d47-1097/travis-kalanick-uber-35.jpg" alt="travis kalanick uber" data-mce-source="Chris Ratcliffe/Bloomberg via Getty Images" data-mce-caption="Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. " /><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </p></div><p></p></div></div>Uber investors Mitch and Freada Kapor want to change two things: Uber's toxic workplace and the deafening silence from Uber's backers when it comes to the "inexcusable behavior" of the company's leadership. </p><p>A <a href="http://www.businessinsider.com/uber-ceo-travis-kalanick-pledges-urgent-investigation-sexual-harassment-after-susan-fowler-blog-post-2017-2">former engineer's claims of sexism</a> at Uber have rocked the company for days, leading to a teary apology from its CEO Travis Kalanick. However, they were apparently only the tip of a much deeper problem inside the company's culture. A <a href="http://www.businessinsider.com/another-negative-report-about-uber-work-environment-2017-2">bombshell report</a> <a href="https://www.nytimes.com/2017/02/22/technology/uber-workplace-culture.html?smid=tw-share&amp;_r=1">from the New York Times</a> said a manager had been fired for groping women's breasts, employees had done cocaine in the bathrooms during company retreats, and a director had yelled gay slurs during meetings. </p><p>In <a href="https://medium.com/@mitch_freada/an-open-letter-to-the-uber-board-and-investors-2dc0c48c3a7#.jnt7t8vsm">an open letter to Uber's investors and board</a>, the Kapors blasted Uber for ignoring the work some of its investors have tried to do behind the scenes for years to change the company culture. Freada Kapor lead a workshop on unconscious bias in 2015, she said. They've both been contacted by multiple senior officials at Uber - although "notably" never by Travis Kalanick himself, the Kapors said.</p><p>The Kapors, who invested early in Uber, are known in Silicon Valley for both their investing prowess but also their passion and engagement around issues of diversity in the tech industry. They created the Kapor Center to help increase access to STEM education and bring more diverse entrepreneurs into the tech ecosystem.</p><p>"We are speaking up now because we are disappointed and frustrated; we feel we have hit a dead end in trying to influence the company quietly from the inside," the Kapors wrote.</p><p>Specifically, the investors take issue with who Uber has chosen to lead what it calls an "independent" investigation into Fowler's claims. Former attorney general Eric Holder previously worked on Uber's behalf to advocate for the company's concerns. Arianna Huffington is on the board of the company, and the Chief Human Resources Officer reports to the executive team. All are in on the review.</p><p>"We are disappointed to see that Uber has selected a team of insiders to investigate its destructive culture and make recommendations for change. To us, this decision is yet another example of Uber's continued unwillingness to be open, transparent, and direct," the Kapors wrote. </p><p>"We intend to be thorough, impartial and objective, and we are conducting this review with the highest degree of integrity and professionalism," Eric Holder and his law partner Tammy Albarran, said in a statement.</p><p>The Kapors remain fearful that Uber will once again be able to "manage its way past this crisis and then go back to business as usual." They had tried to involve the company in diversity projects run by Kapor Capital, but failed. Now that their work inside the company has failed to bring about change, the Kapors are hoping public pressure might turn the company around.</p><p>"We are speaking out publicly, because we believe Uber's investors and board will rightly be judged by their action or inaction," the Kapors wrote. "We hope our actions will help hold Uber leadership accountable, since it seems all other mechanisms have failed.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/uber-self-driving-volvo-suv-san-francisco-2016-12">We took a ride in Uber's new self-driving car on the streets of San Francisco -&#xa0;here's what it was like</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="E5b285ODE66xdiCrp-ch69Bbpt6XjvPf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'E5b285ODE66xdiCrp-ch69Bbpt6XjvPf',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

Uber investors openly blast company for failure to change: 'We feel we have hit a dead end'

<p><div class="KonaFilter image-container float_right"><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/54856be5eab8eab173249c01-803-602/travis-kalanick-uber-33.jpg?maxX=480" border="0" alt="travis kalanick uber" width="480"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., gestures as he speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014.</p></img></div><p></p></div>The government of India's capital territory has just banned the ride-sharing service Uber after a passenger reported that a driver raped her, <a href="https://twitter.com/DeccanChronicle">according to</a> the Deccan Chronicle.</p>
<p>Shiv Kumar Yadav, the Uber driver who's been accused of raping a young female passenger, is scheduled to appear in Indian court on Monday, AFP <a href="http://www.businessinsider.com/r-indian-uber-driver-accused-of-rape-previously-arrested-for-assault-2014-12">reports</a>. The man was arrested for another sexual assault three years ago and eventually acquitted of the crime, but he was still allowed to drive for Uber.</p>
<p>Uber CEO Travis Kalanick has said that Indian systems lack a process to "to establish clear background checks," <a href="https://twitter.com/DeccanChronicle/status/541878412579573760">according to</a> the Deccan Chronicle.</p>
<p><span style="font-size: 15px; line-height: 1.5em;">Indian police are reportedly considering taking legal action against Uber, claiming that the company hasn't run proper background checks.</span></p>
<p>Delhi's government <a href="http://www.businessinsider.com/afp-delhi-city-government-bans-uber-after-alleged-rape-2014-12">said in a statement</a> that "(the) Transport Department has banned all activities relating to providing any transport service by the www.Uber.com with immediate effect."</p>
<p>The woman who accused the Uber driver of rape said he dropped her off after he assaulted her and told her not to go to police. She reportedly took down the driver's number and snapped a photo of his car, according to AFP.</p>
<p>Uber recently raised more funding and is now valued at $40 billion.</p>

Uber Has Reportedly Been Banned In Delhi, India After Alleged Rape

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/570f3ffedd0895f5488b4a39-3351-2513/rtr3mqgh.jpg" alt="Battle" data-mce-source="REUTERS/David W Cerny " data-mce-caption="Enthusiasts wearing medieval knight costumes fight during a battle in the central Bohemian village of Libusin April 26, 2014. " data-link="http://pictures.reuters.com/" /><p class="source"><span><a href="http://pictures.reuters.com/">REUTERS/David W Cerny </a></span></p></div><p></p></div></div>Some of BP's largest shareholders are going to battle with the energy giant today over the CEO's massive pay rise.</p><p>In March, CEO Bob Dudley received a huge 20% boost to his overall total pay package, reaching <span>$19.6 million. H</span>is <span>base salary remains at $1.8 million, <span>the rest of the $19.6 million for his total pay package is made out of bonuses, share awards, and pension investments. </span></span></p><p>In other words - his salary stayed the same but his bonus and other elements of his pay deal increased.</p><p><span>Now this may seem normal for an executive pay package at one of the largest companies in the world but Dudley got this pay rise despite </span>BP losing $5.2 billion in 2015 due to the oil price crash that saw oil falling from triple digits in the summer of 2014 to around $35 per barrel right now.</p><p><span>Major fund managers Aberdeen Asset Management and Royal London Asset Management have previously spoken out against the pay rise while other shareholders </span>Glass Lewis, ShareSoc, Pirc and ISS have also advised a vote against.</p><p>Shareholders get a binding vote on BP's pay policy every three years.</p><p>On Wednesday, the Institute of Directors weighed in and said that <a href="http://www.iod.com/influencing/press-office/press-releases/iod-urges-bp-shareholders-to-use-their-voice-on-ceo-pay">Dudley's pay increase risks sending "the wrong message to other companies."</a></p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/570f3ffedd0895f5488b4a3a-1956-1467/rtr4yi8b.jpg" alt="Bob Dudley" data-mce-source="REUTERS/Benoit Tessier" data-mce-caption="Bob Dudley, Group Chief Executive of BP, speaks during the 26th World Gas Conference in Paris, France, June 2, 2015." /><p class="source"><span>REUTERS/Benoit Tessier</span></p><p class="caption">Bob Dudley, Group Chief Executive of BP, speaks during the 26th World Gas Conference in Paris, France, June 2, 2015.</p></div><p></p></div></div>Here is the full statement (emphasis ours):</p><p style="padding-left: 30px;"><strong>It is rare that the IoD intervenes on the subject of an individual chief executive's pay</strong>. We are <strong>concerned</strong>, however, that Mr <strong>Dudley's £14 million pay package will seem unjustified to many shareholders</strong>, considering the performance of the company over the last 12 months.</p><p style="padding-left: 30px;">BP is not a badly run company, and its current woes are common to other firms in the sector. Nevertheless, the <strong><keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> Corporate Governance Code is clear that pay should be tightly linked to performance</strong> and that targets should be stretching and rigorously applied. <strong>Should the pay package be approved, it could send the wrong message to investors and other boards.</strong> We therefore urge all shareholders to scrutinise the pay deal of Mr Dudley very closely.</p><p style="padding-left: 30px;"><strong>If his pay deal is approved, but with a significant minority voting against, the BP board must explain how it will engage with this group of shareholders - they cannot and should not be ignored.</strong></p><p><a href="http://www.bbc.co.uk/programmes/b006qj9z">On BBC's Today programme</a>, Tim Bush, head of governance at the investors' advisory consultancy Pirc, said BP's "pay model is broken" and that "there is a major problem in the way chief executives are recruited and paid.</p><p>Last month, the company defended the move in its <a href="http://www.bp.com/content/dam/bp/pdf/investors/bp-annual-report-and-form-20f-2015.pdf">annual report</a> by saying that the pay package was because of Dudley's improvements to the company's safety, project management and cost-cutting.</p><p>"Despite the very challenging environment, BP delivered strong operating and safety performance throughout 2015 and responded early and decisively to the steep fall in oil price" said Ann Dowling, chair of BP's remuneration committee.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/game-of-thrones-economics-westeros-iron-throne-lannisters-2016-4">This hidden subplot of 'Game of Thrones' spells out the real trouble for the Lannisters</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="tvNncydDrkw0Adz4yS0Vsg8DPK1cte-i" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'tvNncydDrkw0Adz4yS0Vsg8DPK1cte-i',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

BP's shareholders are going to battle today over the CEO's massive pay rise

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5485b508ecad040222e3c3fa-1098-823/travis-kalanick-uber-34.jpg" border="0" alt="travis kalanick uber"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </p></img></div><p></p></div></div>Uber CEO Travis Kalanick has responded to allegations that a 26-year-old woman in India was reportedly sexually assaulted by her Uber driver on Friday night.</p>
<p><span style="line-height: 1.5em;">In an Uber blog post, Kalanick said:</span></p>
<blockquote class="blockquote">
<p><span class="im">What happened over the weekend in New Delhi is horrific. Our entire team's hearts go out to the victim of this despicable crime. We will do everything, I repeat, everything to help bring this perpetrator to justice and to support the victim and her family in her recovery.</span></p>
<p>We will work with the government to establish clear background checks currently absent in their commercial transportation licensing programs. We will also partner closely with the groups who are leading the way on women's safety here in New Delhi and around the country and invest in technology advances to help make New Delhi a safer city for women.</p>
</blockquote>
<p><span style="line-height: 1.5em;">The woman says her driver sexually assaulted and beat her before warning her not to contact authorities. Uber gave police information about his license, address, vehicle, and details about the woman's trip. </span></p>
<p><span style="line-height: 1.5em;">The 32-year-old driver, Shiv Kumar Yadav, was arrested Sunday morning at home, <a href="http://www.theguardian.com/world/2014/dec/07/indian-police-uber-driver-rape">100 miles from Delhi</a>. He <span>is scheduled to appear in court today, AFP </span><a href="http://www.businessinsider.com/r-indian-uber-driver-accused-of-rape-previously-arrested-for-assault-2014-12">reports</a><span>. </span></span></p>
<p><span style="line-height: 1.5em;"><span>Yadav was previously arrested for sexual assault and was acquitted, but he was still allowed to drive for Uber.</span></span></p>
<p><span>Kalanick, according to The Deccan Chronicle, has said India's systems don't have a process "<a href="https://twitter.com/DeccanChronicle/status/541878412579573760">to establish clear background checks</a>." </span></p>
<p>Delhi's government <a href="http://www.businessinsider.com/afp-delhi-city-government-bans-uber-after-alleged-rape-2014-12">said in a statement</a> that the "Transport Department has banned all activities relating to providing any transport service by the <span class="skimlinks-unlinked">www.Uber.com</span> with immediate effect." According to the AFP, Delhi's city government <a href="http://www.businessinsider.com/afp-delhi-city-government-bans-uber-after-alleged-rape-2014-12#ixzz3LJdSZJcf">has banned Uber in the wake of this weekend's rape allegation</a>. </p>
<p><span>"(The) Transport Department has banned all activities relating to providing any transport service by the </span><span class="skimlinks-unlinked">www.Uber.com</span><span> with immediate effect," the government said in a statement.</span><span><br /></span></p>
<p><span style="line-height: 1.5em;">Uber, <a href="http://www.businessinsider.com/uber-just-raised-12-billion-2014-12">which just raised $1.2 billion at a $41 billion valuation</a>, launched in India in 2013. Uber's primary competition in India is Ola Cabs, which operates in 19 cities and <a href="http://techcrunch.com/2014/10/27/olacabs-softbank-india/">has raised about $277 million</a>.</span></p>

Uber CEO Promises Change In India After Alleged Rape Gets The Service Banned In The Capital

<p class="p1"><span style="line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5485b5016bb3f78b30771d3e-1200-800/456589686.jpg?maxX=600" border="0" alt="travis kalanick uber" width="600"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </p></img></div><p></p></div>Uber's financial performance is shakier than previous reports suggested, based on the<a href="http://www.bloomberg.com/news/articles/2015-06-30/uber-bonds-term-sheet-reveals-470-million-in-operating-losses"> leaked numbers reported by Bloomberg </a>on Tuesday. </span></p><p class="p1"><span style="line-height: 1.5em;">The numbers, which Bloomberg said were part of a term sheet for a bond offering that Uber is planning, provide a rare glimpse into the popular ride-hailing business' money-making machine.</span></p><p class="p1"><span style="line-height: 1.5em;">According to Bloomberg, Uber had revenue of $415 million (we assume net revenue after payments to drivers, not gross revenue) and an operating loss of $470 million.</span></p><p class="p1"><span style="line-height: 1.5em;">It's an incomplete glimpse into Uber, as the numbers are missing one major piece of context: the time period that the financial results correspond to. It's unclear whether these are financial results for a single quarter, for a whole year, or for some other period of time. </span></p><p class="p1"><span style="line-height: 1.5em;">Nor do we know how fresh the numbers are - an Uber spokesperson told Bloomberg they are "substantially old," which suggests they come from 2014. </span></p><p class="p1"><span style="line-height: 1.5em;">It's also not clear where the numbers originated - Uber <a href="http://fortune.com/2015/06/29/report-ubers-huge-growth-comes-with-huge-losses/">told Fortune</a> that the prospectus in question was not distributed by Uber, but didn't comment further on their accuracy. </span></p><p class="p1"><span style="line-height: 1.5em;">Still, the numbers present some worrying signs whether they are viewed as quarterly or annual results. </span></p><p class="p1"><span style="line-height: 1.5em;">If one assumes that the numbers correspond to one single quarter's financial results, then Uber appears to be losing some serious money. That's because if you create an annualized run-rate based on those numbers (multiply by four), Uber's annual operating loss is nearly $2 billion. </span></p><p class="p1"><span style="line-height: 1.5em;">Of course, there are plenty of caveats to assuming that Uber is actually losing that much money on an annual basis given how little we know. The one-quarter snapshot may have been an anomaly; perhaps Uber ramped up its spending that quarter and sustained a much greater than normal operating loss. </span></p><p class="p1"><span style="line-height: 1.5em;">Still, it's reasonable to at least consider the possibility that Uber is operating at that kind of run rate based on the reported numbers. </span></p><p class="p1"><span style="line-height: 1.5em;">But perhaps the Bloomberg numbers represented an entire year's worth of financial results? In other words, Uber's $470 million operating loss could be for the 2014 year. The problem with looking at it that way is that it means Uber's revenue for all of 2014 was only $415 million. </span></p><p class="p1"><span style="line-height: 1.5em;">That's a pretty small number for a company with Uber's valuation - it was $18 billion at the end of 2014, and is over $40 billion approaching $50 billion now. It also suggests that the company will fall short of the <a href="http://www.businessinsider.com/ubers-revenue-2014-11">$2 billion net revenue run rate that earlier reports expected</a> it to attain this year, even at a reported 300% growth rate. </span></p><p class="p1"><span style="line-height: 1.5em;"><span>Uber has not responded to requests from Business Insider. We'll update this story if we hear back.</span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/uber-versus-taxi-california-2015-6">Is Uber really cheaper than a taxi?</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="Zmc3Z1cDoefsaxh4d9RwdpJj_TkDZlTs" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'Zmc3Z1cDoefsaxh4d9RwdpJj_TkDZlTs',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

Uber's numbers seem ugly either way you look at them

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5719d3b8dd08952c1f8b48ed-874-656/rtrnv4l.jpg" alt="A protestor dressed in a cat suit and holding a bowl of cream demonstrates outside the location of pharmaceutical giant Glaxo Smith Kline's annual general meeting in London May 19, 2003. Shareholders of GlaxoSmithKline Plc on Monday voted down a costly executive pay scheme that included a ogolden parachuteo worth up to $36 million for the chief executive, EuropeAEs top drugmaker said. The historic vote, although only advisory, makes GlaxoSmithKline the first British blue-chip company to have shareholdes reject its pay scheme. Critics had slammed the ogolden parachuteo Chief Executive Jean-Pierre Garnier would receive if he lost his job. The vote came during a stormy annual general meeting season in which shareholders of British companies have battled lucrative U.S.-style packages for top executives." data-mce-source="REUTERS/Hugo Philpott" data-mce-caption="Investors have been rejecting big pay deals for FTSE 100 bosses." data-link="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZI0G0S3M&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZI0G0S3M&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=35&amp;POPUPIID=2C0408EWC0Q5" /><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZI0G0S3M&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZI0G0S3M&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;POPUPPN=35&amp;POPUPIID=2C0408EWC0Q5">REUTERS/Hugo Philpott</a></span></p><p class="caption">Investors have been rejecting big pay deals for FTSE 100 bosses.</p></div><p></p></div></div>A group of top City of London shareholders and businessmen say executive pay is "not fit for purpose" and needs serious reform.</p><p>The Executive Remuneration Working Group, set up last September by the Investment Association, says in its draft report that pay packages for top bosses are currently "not fit for purpose and [it] has resulted in a poor alignment of interests between executives, shareholders and the company."</p><p>The report was released on Thursday, the same day as FTSE 100 mining giant Anglo American faced a shareholder revolt over its CEO's pay. Almost 42% of investors <a href="http://www.theguardian.com/business/2016/apr/21/anglo-american-chief-executive-pay-mining">voted against the £3.4 million pay of CEO Mark Cutifani at Anglo American's AGM in London.</a></p><p>Last week <a href="http://www.theguardian.com/business/2016/apr/14/bp-pledge-shareholder-anger-ceo-bob-dudleypay-deal">investors in FTSE 100 oil giant BP and medical device maker Smith &amp; Nephew both voted down executive pay deals.</a> Almost 60% of BP shareholders objected to CEO Bob Dudley's £14 million pay package.</p><p>The report argues that executive pay is rising because of a "keeping up with the Jones" fear that it is rising at other top companies, and boards do not want to be seen to be underpaying their CEOs.</p><p>The Group calls for pay to be more closely linked to performance, in line with wider pay policies for employees, and allow for more discretion from the remuneration committee, rather than simply based on a mathematical calculation.</p><p>The group that drew up the report was chaired by Nigel Wilson, CEO of insurer Legal &amp; General, which has £715 billion of client and shareholder money invested. Other leading business figures in the group include Sainsbury's chairman David Tyler and City veteran Edmund Turell, who is currently advising Boris Johnson on pensions.</p><p>Wilson says in the report, <a href="http://www.thetimes.co.uk/edition/business/we-get-paid-too-much-business-leaders-admit-pddnzm2v9">according to The Times</a>: "The FTSE is trading at broadly the same levels as eighteen years ago and 10% below its peak. However, executive pay over the same period has more than trebled and there is an increasing disparity between average wages and executive wages."</p><p>Unusually, the Institute of Directors, which represents hundreds of top executives and bosses in Britain, has backed the Executive Remuneration Working Group's report. Simon Walker, director of the IoD, says the current system is "failing" and there needs to be intervention to restore trust in the City between executives and investors.</p><p><a href="http://www.iod.com/influencing/press-office/press-releases/iod-welcomes-plan-to-reform-exec-pay">Walker says in a release (emphasis ours)</a>:</p><p style="padding-left: 30px;">It is <strong>increasingly clear that there is a problem</strong> with executive pay at big listed companies. The introduction of binding votes on pay policy has not had the kind of immediate and positive impact regulators and government would have wanted. Whilst some improvements have been made, the rebellion over BP's remuneration report last week has shown that <strong>there is still considerable shareholder unhappiness</strong>.</p><p style="padding-left: 30px;">Today's report is a timely and important intervention in the debate around how remuneration is designed. We are pleased that the report has called for pay-setting to recognise company performance, be clear and simple, and aligned with shareholders' interests.</p><p style="padding-left: 30px;">Importantly, the report also recommends that pay policies for senior executives are <strong>consistent with the approach for other employees</strong>. This is a worthy intervention that, if adopted by the market, <strong>could go a long with to restoring trust </strong>in our largest companies. <strong>The current approach to executive remuneration is failing.</strong></p><p>Tom Gosling, head of pay, performance, and reward at auditor PwC <a href="http://pwc.blogs.com/press_room/2016/04/pwc-comments-on-the-executive-remuneration-working-group-draft-report.html">says in a statement</a>: "There's still the formidable challenge of getting wide-spread acceptance for the proposals from investors and proxy voting agencies. If this can be done then we could see real benefits from these proposals. If not then they won't amount to much."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/hamilton-makes-over-2-million-month-producer-jeffrey-seller-broadway-musical-theater-2016-4">Broadway's biggest hit 'Hamilton' is making over $2 million a month - here's why the producer thinks it could be making a lot more</a></h3>        <div>            <div>    <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script>    <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="hqaGdtMjE6TuOLd1QuJ1UzvqOkB9_J_a" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>    <script>    if (typeof RunFunctions === 'undefined') { var RunFunctions = []; }     RunFunctions.push(function()    {         var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', 'hqaGdtMjE6TuOLd1QuJ1UzvqOkB9_J_a',{ autoplay: 'false' });     });    </script>    <noscript><div>Please enable Javascript to watch this video</div></noscript></div>        </div>        <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script>    </div>

A group of top City figures says CEOs get paid way too much

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/54b6db2feab8ea805d32802e-1098-823/travis-kalanick-uber-61.jpg" border="0" alt="travis kalanick uber"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </p></img></div><p></p></div></div></p>
<p>Australian officials believe Uber is blocking the phone numbers of inspectors that want to crack down on Uber's operations in some Australian cities, a<span>ccording to </span><a href="http://www.abc.net.au/news/2015-01-14/uberx-outsmarts-taxi-inspectors-by-blocking-mobile-phones/6016940">a report from Australia's ABC News</a>.<span><br /></span></p>
<p>Uber is not allowed to legally operate in <span>Queensland, New South Wales, Victoria, and Western Australia.</span></p>
<p><span>Last May, Australian authorities gave Uber a cease and desist, which stated drivers caught accepting passengers - which can happen in sting operations when authorities request a ride on the Uber app on their phone - could receive fines for $1,707 for unauthorized driving and $1,366 for providing unlicensed taxi services, <a href="http://www.brisbanetimes.com.au/queensland/uber-dodges-fines-by-blocking-queensland-inspectors-phones-20150114-12o9em.html">according to Australia's Brisbane Times</a>. Drivers can be fined repeatedly.</span></p>
<p><span>According to ABC, which obtained correspondence from Department of Transport officials, undercover inspectors tried to conduct a sting operation against Uber drivers back in August, but were thwarted when Uber blocked their phone numbers and consequently their Uber accounts.</span></p>
<p><span>"No covert activity was done today, Uber locked third phone due to [infringement notices] being issued yesterday," Department of Transport staffer Scott Hall said in an email from August. </span><span>"Time was spent purchasing new credit cards, activating gmail accounts, and setting up two more phones [...] covert activity will re-commence tomorrow."</span><span> </span></p>
<p>An Uber representative cited suspicious activity when an inspector asked about a suspended account, the ABC reports. </p>
<p><span>"I can see that our system has picked up unusual activity linked to this account," the representative said. </span><span>"It's currently under investigation and will remain banned until we get to the bottom of it."</span></p>
<p><span><span>A government spokesperson told the Brisbane Times that </span>$260,000AUD ($211,753) in fines have been doled out to 95 Uber drivers since May, </span></p>
<p>"As uberX flourishes in Sydney, Melbourne, Brisbane, Perth, Geelong and the Gold Coast, the support for sensible regulations that are based on the public interest and encouraging innovation is growing," Uber Australia <a href="http://blog.uber.com/calls-get-louder">said in a </a><span><a href="http://blog.uber.com/calls-get-louder">blog post from December</a>.</span></p>
<p><span>"</span><span>We have heard calls for reform from a number of organisations and individuals including Choice, Graeme Samuel Chair of the Victorian Taxi Services Commission, Professor Allan Fels, NSW Shadow Transport Minister, Penny Sharpe, NSW Minister for Finance, Dominic Perrottet, Independent Lord Mayor of Perth, Lisa Scaffidi, the Western Australian Liberal party. The list goes on."</span></p>
<p>We reached out to Uber for comment and will update this post if we hear back.</p>
<p><a href="http://www.abc.net.au/news/2015-01-14/uberx-outsmarts-taxi-inspectors-by-blocking-mobile-phones/6016940">You can read the ABC's full report here</a>.</p>

Here's How Uber Is Reportedly Dealing With Australian Authorities Trying To Shut Down Its Service

<img class="gwt-Image" src="/photo/46621469.cms" />

	<br />
	<br />
	Buying a property in India is like taking a leap of faith. You have to part with your hard earned money and it still may not serve the purpose. Most often, home buyers depend on the banks to do the due diligence, which is extremely important before buying a property. But does that suffice?<br />
	 <br /> Santhosh Kumar, International Director with <keyword id="484198" type="COMPANY" weightage="20" keywordseo="JLL-India">JLL India</keyword> feels otherwise. “Real estate buyers are often warned that they must conduct a thorough due diligence before investing in any property, and that they should not rely solely on the verification process done by banks while they are processing a home loan request. This is sound advice, especially in the current times when many buyers have found themselves in troubled waters after making property purchase decisions without doing their homework,” said Kumar.<br />
	 <br />
	<strong>Check <keyword id="142327" type="PERSON" weightage="20" keywordseo="developer">developer</keyword>’s credibility</strong><br />
	 <br />
	While many believe ready to move in apartments are a better and safer bet than those under construction, one still has to be cautious before buying such a property. According to Kumar, verifying the developer’s credibility is of utmost importance.<br />
	 <br />
	“Get all details pertaining to the developer’s credentials. Of particular importance is the developer’s delivery track record of past projects. There are many aspects that directly affect the level of risk, but are never revealed to buyers. The required information needs to be assimilated at a local level, preferably by someone who has been residing in the locality for a while,” he explained.<br />
	 <br />
	In the case of under-construction properties, it is always better if a property broker is involved. However, if it is being bought from the builder directly, it becomes imperative for the potential buyer to do his investigation through the locals in the area.   <br />
	 <br />
	“The buyer needs to establish whether the builder has free and clear ownership of the land on which the project is being built. An agreement between builder and the original owner of the land is not sufficient,” explained Kumar.<br />
	 <br />
	<strong>Seek requisite documents</strong><br />
	 <br />
	One of the most important documents that every buyer should ask for is the IOD (intimation of disapproval), a set of instructions that every developer has to follow in order to build his project in a legal way.<br />
	 <br />
	According to developers, if a buyer is investing in ready to move flats, a buyer should ask for the approved drawings of the project, the completion certificate and a clear land title. Ensure that the property is free of litigation and any kind of associated debt. Also, establish the existence of a proper society. If one is buying a second-hand property, proper transfer and re-registration should be done before hand over. The documents required for registration of a residential flat, apart from the sale deed, will include a letter from the society that reflects the number of floors in the building, the year in which the building was constructed, the apartment's built-up area and the number of lifts in the building,” he noted.<br />
	 <br />
	On the other hand, while investing in a new project, a buyer must be careful about the ownership of the land, on which the project is being built. “The buyer needs to establish whether the builder has free and clear ownership of the land on which the project is being built. An agreement between builder and the original owner of the land is not sufficient,” explained Kumar.<br />
	 <br />
	Apart from these, the buyer should also remember to do his due diligence pertaining to applicable condominium documents, service contracts, and all construction-related documents including warranties, as-built plans and specifications among others. 


Do
you know what due-diligence is? Read this if you are a potential home buyer

<p><span class="KonaFilter image-container display-table float_right"><span><span data-post-image="" class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5492f54d6da811302647ada9-1097-823/travis-kalanick-uber-52.jpg" border="0" alt="travis kalanick uber"><span class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></span><span class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </span></img></span><p></p></span></span>A Boston-based Uber driver was arrested Wednesday for allegedly raping and kidnapping a passenger earlier this month, <a href="https://www.bostonglobe.com/metro/2014/12/17/uber-driver-accused-rape-kidnapping-customer/KYnOQczKFqggfbnri2FpGL/story.html">the Boston Globe reports</a>.</p>
<p><span style="line-height: 1.5em;">The driver,&#xa0;</span><span style="line-height: 1.5em;">Alejandro Done, allegedly picked up the young woman on Dec. 6, <a href="http://www.whdh.com/story/27654946/middlesex-da-announces-arraignment-of-rideshare-driver">according to a statement from the Middlesex County District Attorney's Office</a>. She had been out with friends and ordered a car through Uber's app to get home. </span></p>
<p><span style="line-height: 1.5em;">After she got into the vehicle, Done allegedly told her she would need to pay with cash. Done drove her to an ATM, and once she returned to his car, Done allegedly drove her to a secluded area, according to the statement. </span></p>
<p><span style="line-height: 1.5em;"><span>There was no need for Done to drive the woman to an ATM in the first place.&#xa0;</span><span>With Uber, customers only pay for their trips through the app using their credit or debit cards, Uber credits, or Apple Pay.</span></span></p>
<p><span style="line-height: 1.5em;">Done then allegedly got into the backseat of the car with the woman, beat and strangled her, locked the doors of the car so she couldn't get out, covered her mouth so she couldn't scream, and allegedly sexually assaulted her, according to the District Attorney's statement.</span></p>
<p><span><span><span>"This alleged predator took advantage of a young woman who trusted that he was who he portrayed himself to be and exploited her vulnerability once he had her in his car," said&#xa0;<span>Middlesex&#xa0;</span><span>District Attorney <span>Marian T.&#xa0;</span>Ryan.</span></span></span></span></p>
<p><span style="line-height: 1.5em;"><span>The woman reported the alleged battery and assault to Cambridge police.&#xa0;</span>Done has pleaded not guilty to charges including&#xa0;<span>rape, assault to rape, kidnapping, and two counts of assault and battery, according to the District Attorney's statement.&#xa0;</span></span><span style="line-height: 1.5em;">Police began an immediate investigation into the alleged rape and kidnapping, and identified the driver through Uber's records.&#xa0;</span></p>
<p><span><span>"This is a despicable crime and our thoughts and prayers are with the victim during her recovery. Uber has been working closely with law enforcement and will continue to do everything we can to assist their investigation," Uber spokesperson&#xa0;<span>Kaitlin Durkosh said in a statement to Business Insider.</span></span></span></p>
<p><span style="line-height: 1.5em;">The Boston Globe reports <a href="https://www.bostonglobe.com/metro/2014/12/17/uber-driver-accused-rape-kidnapping-customer/KYnOQczKFqggfbnri2FpGL/story.html">this incident is not isolated: it's the fourth report of assault or inappropriate touching</a> <span>by a driver for a car-service company&#xa0;</span>in Boston this month. "</span><span style="line-height: 1.5em;">Early Sunday, three women reported indecent assaults within hours in Boston after summoning a ride-share service. At least two of the victims had used Uber," the Globe reports.</span></p>
<p><span style="line-height: 1.5em;">In light of allegations that <a href="http://www.businessinsider.com/travis-kalanick-uber-india-statement-2014-12">an Uber driver raped a female passenger in India</a> last week, Uber has worked to up its safety measures. A <a href="http://blog.uber.com/safety">blog post on its website yesterday</a> outlines new steps Uber is considering taking to increase the safety of its operations globally. In addition to researching&#xa0;<span>biometrics and voice verification as ways to improve driver screenings, <span>Phillip Cardenas, Uber's head of global safety</span><span>, announced that&#xa0;<span>Tim Collins, who previously led Amazon's European operations, is now joining Uber to head up the company's global support team.</span></span><br /></span></span></p>

An Uber Driver Allegedly Raped A Female Passenger In Boston

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/548091606bb3f7f24e4d6d65-895-671/travis-kalanick-uber-29.jpg" border="0" alt="travis kalanick uber"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., gestures as he speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014.</p></img></div><p></p></div></div>Uber just raised $1.2 billion, CEO Travis Kalanick <a href="http://blog.uber.com/ride-ahead">announced on the company's blog.</a> The ride-hailing and logistics startup has raised $2.7 billion since its founding in 2010. </p>
<p>The company didn't announce its valuation, but Business Insider can confirm that it was $40 billion.</p>
<p><span style="line-height: 1.5em;">Uber says it will use the $1.2 billion to create more than 1 million jobs in 2015 and to "make significant investments, particularly in the Asia Pacific region." Uber also vows to become "smarter and more humble" moving forward. Recently, its <a href="http://www.businessinsider.com/uber-ceo-aplogizes-for-emil-michaels-journalism-comment-2014-11">executives have taken heat</a> for saying and doing controversial things.</span></p>
<p>To see why investors are going nuts over Uber, <a href="http://www.businessinsider.com/uber-revenue-rides-drivers-and-fares-2014-11">check out the company's revenue and active user data here</a>. <span>A few of Uber's earliest markets are generating hundreds of millions in revenue per year. Uber is currently available in 250 cities around the world.</span></p>
<p>Here's the post from CEO Travis Kalanick.</p>
<p style="padding-left: 30px;">2014 has been a year of tremendous growth for Uber.  It was just a year ago that Uber was operating in 60 cities and 21 countries - today we are in over 250 cities in 50 countries.  We are 6 times bigger today than 12 months ago - and grew faster this year than last. This progress is remarkable, but it is in the coming years that Uber truly scales and the impact in cities becomes visible.</p>
<p style="padding-left: 30px;">In 2015 alone, Uber will generate over 1mm jobs in cities around the world and with that millions of people may decide that they no longer need to own a car because using Uber will be cheaper than owning one. Parking could  become less strained in our biggest cities, and city congestion may actually start to ease due to uberPOOL's expansion and success.</p>
<p style="padding-left: 30px;">This kind of continued growth requires investment. To that end, we have just raised a financing round of $1.2 billion, with additional capacity remaining for strategic investments. This financing will allow Uber to make substantial investments, particularly in the Asia Pacific region.</p>
<p style="padding-left: 30px;">This kind of growth has also come with significant growing pains. The events of the recent weeks have shown us that we also need to invest in internal growth and change. Acknowledging mistakes and learning from them are the first steps. We are collaborating across the company and seeking counsel from those who have gone through similar challenges to allow us to refine and change where needed.</p>
<p style="padding-left: 30px;">Fortunately, taking swift action is where Uber shines, and we will be making changes in the months ahead. Done right, it will lead to a smarter and more humble company that sets new standards in data privacy, gives back more to the cities we serve and defines and refines our company culture effectively.</p>
<p style="padding-left: 30px;">We have an interesting journey ahead and I'd like to thank all of the riders, drivers and Uber employees who have made it possible to get this far.  I'm inspired and energized every day by the work we do, the people in our community we serve and the impact we can have in bringing positive change to cities around the world.</p>

Uber Raises $1.2 Billion At A $40 Billion Valuation, Vows To Become 'Smarter And More Humble'

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/54871a7aeab8ea98649000dc-1098-823/travis-kalanick-uber-37.jpg" border="0" alt="travis kalanick uber"><p class="source"><span>Chris Ratcliffe/Bloomberg via Getty Images</span></p><p class="caption">Travis Kalanick, chief executive officer of Uber Technologies Inc., speaks during the Institute of Directors (IOD) annual convention at the Royal Albert Hall in London, U.K., on Friday, Oct. 3, 2014. </p></img></div><p></p></div></div>The past few months have been a PR nightmare for Uber.</p>
<p>In November at a dinner for "influencers," an Uber exec named Emil Michael suggested the company could theoretically dig up personal information on reporters who are critical of the company. BuzzFeed's editor-in-chief Ben Smith <a href="http://www.buzzfeed.com/bensmith/uber-executive-suggests-digging-up-dirt-on-journalists">reported on the comments</a>.</p>
<p>BuzzFeed also reported that a New York City Uber executive had tracked one of BuzzFeed's tech reporters without her permission, a breach of Uber's <a href="https://www.uber.com/legal/usa/privacy">privacy policy</a>, which was posted to Uber's website in light of these incidents. The executive in question, Josh Mohrer, <a href="http://www.businessinsider.com/uber-disciplines-new-york-manager-for-tracking-a-buzzfeed-reporter-2014-11">was investigated for spying on the BuzzFeed reporter</a>, and according to Uber has since been disciplined for his actions, but has kept his job. </p>
<p><span style="line-height: 1.5em;">And then there was more troubling privacy news: An Uber interview candidate in Washington, D.C. <a href="http://www.businessinsider.com/uber-reportedly-gave-an-interview-candidate-access-to-the-companys-rider-database-2014-12">was reportedly given access to Uber's rider database</a>, which is full of sensitive information, for hours after his interview was over, the Washington Post reported. <span>While researching for a story about the company, San Francisco magazine editor Ellen Cushing </span><span></span><a href="http://www.businessinsider.com/uber-employees-allegedly-warned-journalist-ellen-cushing-uber-could-look-at-her-rider-info-2014-11">was allegedly warned by Uber employees</a><span> that Uber might look at her rider logs, too.</span><span><br /></span></span></p>
<p><span style="line-height: 1.5em;">Senator Al Franken (D-Minn.), chairman of the subcommittee on Privacy, Technology, and the Law, <a href="http://www.businessinsider.com/senator-al-franken-has-some-uncomfortable-questions-for-uber-2014-11">voiced privacy concerns about Uber</a> in an open letter to CEO Travis Kalanick. Cult of Mac reported that <a href="http://www.cultofmac.com/304401/ubers-android-app-literally-malware/">Uber's Android app could be collecting an alarming amount of users' personal data</a>. New York City tech startup founders and serial entrepreneurs who spoke to Business Insider in the days following BuzzFeed's reports <a href="http://www.businessinsider.com/the-new-york-tech-scene-thinks-uber-should-fire-emil-and-travis-2014-11#ixzz3LPWtPrkC">were adamant about Michael or Kalanick stepping down</a>. </span></p>
<p><span style="line-height: 1.5em;">But Uber hasn't just upset press and people concerned about user privacy - drivers across the country <a href="http://www.businessinsider.com/uber-drivers-across-the-country-are-protesting-tomorrow--heres-why-2014-10">have also protested the company</a> since September. </span></p>
<p><span style="line-height: 1.5em;">They're upset by Uber's competitive pricing, which affects drivers' incomes. Some say <a href="http://www.businessinsider.com/uber-drivers-say-theyre-making-less-than-minimum-wage-2014-10">they're barely making minimum wage</a>. They don't understand why Uber hasn't integrated a feature to let them accept tips from customers. They're terrified of Uber's five-star rating system, and say that even one bad rating could be enough to knock them out of Uber's driving system and prevent them from driving for the service in the future.</span></p>
<p><span style="line-height: 1.5em;">At the end of November, Uber quietly pulled a blog post on its website <a href="http://www.businessinsider.com/uber-quietly-removed-blog-posts-examining-link-between-prostitution-and-rides-2014-11">that examined a link between prostitution and Uber rides</a>. The post examined how Uber's ride data <a href="http://www.businessinsider.com/uber-quietly-removed-blog-posts-examining-link-between-prostitution-and-rides-2014-11">meshed with crime statistics</a>.</span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">Some of Uber's customers aren't very happy, either. An Uber customer </span><a href="http://www.businessinsider.com/r-uber-ceo-must-turn-over-emails-in-gratuity-lawsuit-us-judge-rules-2014-11#ixzz3LPc0isHP">filed a class-action lawsuit against the company earlier in 2014</a><span style="font-size: 15px; line-height: 1.5em;">, alleging that Uber misleads its customers about how it shares tips with drivers. </span><span style="font-size: 15px; line-height: 1.5em;">Complaints about Uber's surge pricing model - in which the company charges a fare multiplier during Uber's busiest hours - </span><a href="http://www.businessinsider.com/uber-gets-an-f-from-better-business-bureau-2014-10">has caused the Better Business Bureau to give the company an 'F.' </a><span style="font-size: 15px; line-height: 1.5em;"> </span></p>
<p><span style="line-height: 1.5em;">Most recently, Uber has had trouble in terms of national and international growth. Amid regulatory concerns, Nevada </span><a href="http://www.businessinsider.com/r-ridesharing-firm-uber-suspends-operations-in-nevada-2014-11">became the first US state to suspend Uber's operations</a><span style="line-height: 1.5em;">. Portland, Ore., </span><a href="http://www.businessinsider.com/portland-sues-uber-after-four-days-of-operation-2014-12">is suing Uber after four days of illegally operating in the city</a><span style="line-height: 1.5em;">. Portland declared Uber an </span><span style="line-height: 1.5em;">"illegal, unregulated transportation service."</span></p>
<p><span style="line-height: 1.5em;">Uber's having a different set of challenges in other countries, especially Germany: Uber's services aren't taking off there in part because the country's taxis are Mercedes, and thus are much nicer than a typical taxi. Germans <a href="http://www.businessinsider.com/heres-the-real-reason-uber-is-having-a-tough-time-in-germany-2014-12">don't seem enticed by a service like Uber</a> even if it's much cheaper. </span><span style="line-height: 1.5em; font-size: 15px;">In addition, </span><a href="http://www.reuters.com/article/2014/09/26/us-uber-germany-bans-idUSKCN0HL23320140926">courts in Hamburg and Berlin</a><span style="line-height: 1.5em; font-size: 15px;"> upheld a ban on the service in September, saying that Uber doesn't comply with German laws. </span></p>
<p><span style="line-height: 1.5em; font-size: 15px;">A Dutch court also </span><a href="http://abcnews.go.com/Technology/wireStory/uber-loses-preliminary-suit-netherlands-27439643">ruled this week that in the Netherlands, Uber can't work with unlicensed drivers</a><span style="line-height: 1.5em; font-size: 15px;"> (drivers with licenses and drivers who don't seek payment can still legally operate, however).</span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">Sometimes, Uber's drivers are a liability to the company, too. An Uber driver in San Francisco </span><a href="http://www.businessinsider.com/an-uber-driver-has-been-charged-with-killing-a-six-year-old-2014-12">has been charged with vehicular manslaughter</a><span style="font-size: 15px; line-height: 1.5em;"> after killing a six-year-old girl in San Francisco on New Year's Eve last year. In September, an Uber driver </span><a href="http://www.businessinsider.com/uber-driver-accused-of-smashing-a-passenger-with-a-hammer-and-driving-away-2014-9">was accused of smashing a passenger in the head with a hammer</a><span style="font-size: 15px; line-height: 1.5em;"> and driving away. That same month, an Uber driver in Orlando </span><a href="http://www.orlandosentinel.com/news/breaking-news/os-uber-driver-arrested-touched-breast-20140925-story.html">was accused of groping a female passenger</a><span style="font-size: 15px; line-height: 1.5em;"> and then blaming it on the way the woman was dressed.</span></p>
<p>Uber <a href="http://www.businessinsider.com/uber-banned-in-delhi-india-after-alleged-rape-2014-12">was also banned in Delhi</a> this week after an Indian driver allegedly raped and beat a female customer. The driver had been arrested three years ago for another sexual assault and was later acquitted, but he was still allowed to drive for Uber. In light of the allegations in India, <a href="http://www.businessinsider.com/thailand-bans-uber-in-light-of-india-rape-claims-2014-12">Thailand decided to ban Uber's operations too</a>.</p>
<h3>Despite all this, Uber is not down and out. In fact, there has probably never been a better time to be Uber than right now.</h3>
<p>Just last week, Uber <a href="http://techcrunch.com/2014/12/09/didi-dache-700-million/">announced the company had raised a $1.2 billion round of funding at a $41 billion valuation</a>. Since its founding in 2010, Uber has raised an astounding $2.7 billion. By comparison, Uber's closest competitor, Lyft, <a href="http://www.crunchbase.com/organization/lyft">has raised $332.5 million</a>.</p>
<p>And Uber is playing this car service startup game for world dominance. The company <a href="http://www.politico.com/story/2014/08/david-plouffe-uber-campaign-manager-110149.html">hired David Plouffe</a>, who headed up Obama's presidential campaign in 2008, to oversee Uber's city-by-city regulatory battles. Uber is now available in over 250 cities worldwide.</p>
<p><span style="line-height: 1.5em;">With its latest round of funding, Uber has two main goals: to create a million new jobs next year, and to set its sights set on Asia, where competitors like the </span><a href="http://techcrunch.com/2014/12/03/softbank-invests-250m-in-grabtaxi-ubers-archrival-in-southeast-asia/">SoftBank-backed GrabTaxi</a><span style="line-height: 1.5em;"> and </span><a href="http://techcrunch.com/2014/12/09/didi-dache-700-million/">Singapore's Temasek Holding-funded Didi Dache</a><span style="line-height: 1.5em;"> are also trying to take advantage of a relatively untapped market.</span></p>
<p>Uber has made some smart hires besides just David Plouffe. Brad Moore, <a href="http://www.businessinsider.com/one-of-the-men-in-charge-of-apple-maps-has-left-for-uber-2014-11">who brought Apple Maps to the iPhone and the Apple Watch</a>, was hired by Uber in November and serves as the engineering manager for the "Mobile Core Experience," according to his LinkedIn page. Uber also hired former Lyft COO Travis VanderZanden in October <a href="http://www.businessinsider.com/uber-hires-former-coo-of-its-biggest-competitor-lyft-2014-10">to help oversee Uber's international growth</a>. <span>Lyft's former VP </span><span>of operations, Steve Schnell, also defected to Uber.</span><span><br /></span></p>
<p>Still, Kalanick is aware of his company's reputation. In Uber's most recent funding announcement, he said as much, <a href="http://www.businessinsider.com/uber-culture-change-2014-12#ixzz3LPjtohri">addressing Uber's recent controversies</a> by saying:</p>
<blockquote class="blockquote">
<p>This kind of growth has also come with significant growing pains. The events of the recent weeks have shown us that we also need to invest in internal growth and change. Acknowledging mistakes and learning from them are the first steps. We are collaborating across the company and seeking counsel from those who have gone through similar challenges to allow us to refine and change where needed.</p>
</blockquote>
<p><span>Investors are going crazy for Uber. Some of Uber's earliest markets are basically minting money, generating hundreds of millions of dollars in revenue annually. In November, Business Insider obtained an internal Uber presentation that was created in early 2014. </span><span style="font-size: 15px; line-height: 1.5em;">Most of the data is just from December 2013, but even so, the data within the document gives every indication that Uber is far from being done growing. </span></p>
<p><span style="font-size: 15px; line-height: 1.5em;">In its biggest cities - Washington, D.C., New York City, Chicago, San Francisco, and Los Angeles - Uber had more than 100,000 trips per week as of last December. Here's </span><a href="http://www.businessinsider.com/uber-revenue-rides-drivers-and-fares-2014-11?op=1#ixzz3LPo6Wtwp">Business Insider's Alyson Shontell</a><span style="font-size: 15px; line-height: 1.5em;">:</span></p>
<blockquote class="blockquote">
<p><span>In December 2013, Uber generated about $11.7 million in Washington, D.C. (a ~$141 million annual run rate). It generated $26 million in New York City, or an annual run rate of $312 million. In Chicago, Uber generated $12.7 million for a run rate of $152.4 million. In San Francisco, Uber generated $17.7 million, a run rate of $212.4 million. Los Angeles generated somewhere between the revenue of New York and San Francisco. </span><span><br /></span></p>
</blockquote>
<p><span>These run rates would generate about $1 billion a year, and that figure is derived without taking into account Uber's growth in 2014. Year over year from New Year's Eve 2012 to New Year's Eve 2013, Uber's growth rate was a whopping 369%.</span></p>
<p><a href="http://www.businessinsider.com/ubers-revenue-2014-11">Sources close to the company</a><span style="line-height: 1.5em;"> have said Uber's gross revenue is expected to hit about $10 billion by year's end. Since Uber keeps 20% of gross profit and the rest goes to its drivers, Uber would be netting about $2 billion in net revenue.</span></p>
<p>Business Insider's Henry Blodget adds that Uber's revenue growth rate is 300% this year, and next year it's expected to be another 300% gain. Blodget also says investors expect the company to IPO at a valuation of $50 billion to $100 billion in the next few years. For comparison's sake, Facebook <a href="http://www.businessinsider.com/chart-of-the-day-uber-valuation-ahead-of-facebook-in-early-years-2014-11#ixzz3LPmD9F3c">achieved Uber's $41 billion valuation in its seventh year</a> - which was two years before Facebook went public in 2012.</p>
<p>Besides disrupting the transportation market, Uber has a huge opportunity to break into other on-demand services. For instance, Uber launched <a href="http://blog.uber.com/uberFRESH">UberFRESH</a>, a meal delivery service, in Santa Monica in August. <span style="line-height: 1.5em;">This summer, Uber announced it would be testing an on-demand convenience store goods delivery service called "</span><a href="http://www.businessinsider.com/uber-corner-store-on-demand-product-delivery-service-2014-8">Corner Store</a><span style="line-height: 1.5em;">" in Washington, D.C. </span><span style="line-height: 1.5em;">Uber also launched "</span><a href="http://www.businessinsider.com/how-uber-rush-works-2014-4">Uber Rush</a><span style="line-height: 1.5em;">" in New York City this year. It's a courier service not unlike Postmates that relies on on-foot and bike messengers to get your packages from point A to point B. </span></p>
<p>Uber has had its share of negative press recently. But if the company can overcome regulatory hurdles, privacy concerns, its often problematic company culture, and lawsuits - and it certainly can - Uber is poised to become one of the most successful tech startups of all time.</p>

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