The Economics of Privacy †

Total Page:16

File Type:pdf, Size:1020Kb

The Economics of Privacy † Journal of Economic Literature 2016, 54(2), 442–492 http://dx.doi.org/10.1257/jel.54.2.442 The Economics of Privacy † Alessandro Acquisti, Curtis Taylor, and Liad Wagman* This article summarizes and draws connections among diverse streams of theoretical and empirical research on the economics of privacy. We focus on the economic value and consequences of protecting and disclosing personal information, and on consumers’ understanding and decisions regarding the trade-offs associated with the privacy and the sharing of personal data. We highlight how the economic analysis of privacy evolved over time, as advancements in information technology raised increasingly nuanced and complex issues. We find and highlight three themes that connect diverse insights from the literature. First, characterizing a single unifying economic theory of privacy is hard, because privacy issues of economic relevance arise in widely diverse contexts. Second, there are theoretical and empirical situations where the protection of privacy can both enhance and detract from individual and societal welfare. Third, in digital economies, consumers’ ability to make informed decisions about their privacy is severely hindered because consumers are often in a position of imperfect or asymmetric information regarding when their data is collected, for what purposes, and with what consequences. We conclude the article by highlighting some of the ongoing issues in the privacy debate of interest to economists. ( JEL D82, D83, G20, I10, L13, M31, M37) 1. Why an Economics of Privacy Friedrich Hayek’s 1945 treatise on the use of knowledge in society. Contributions to what he value and regulation of information has become known as the field of informa- Tassets have been among the most inter- tion economics have been among the most esting areas of economic research since influential, insightful, and intriguing in the * Acquisti: Heinz College, Carnegie Mellon Univer- Hal Varian, and Frederik Zuiderveen Borgesius. Acquisti sity. Taylor: Department of Economics, Duke University. gratefully acknowledges support from the Alfred P. Sloan Wagman: Stuart School of Business, Illinois Institute of Foundation and the Carnegie Corporation of New York Technology. We are grateful for useful comments and sug- via an Andrew Carnegie Fellowship. Taylor’s research was gestions provided by the reviewing team, as well as by Omri supported in part by NSF grant SES-1132187. Wagman Ben-Shahar, Rainer Boheme, Alessandro Bonatti, Ryan gratefully acknowledges support from the Yahoo Fac- Calo, James Cooper, Avi Goldfarb, Jens Grossklags, Chris ulty Research and Engagement Program. The statements Hoofnagle, Kai-Lung Hui, Nicola Jentzsch, Jin-Hyuk Kim, made and views expressed in this manuscript are solely the Brad Malin, Helen Nissenbaum, Andrew Odlyzko, Randal responsibility of the authors. All errors are the authors’ own. Picker, Ivan Png, Soren Preibusch, Giancarlo Spagnolo, † Go to http://dx.doi.org/10.1257/jel.54.2.442 to visit the Lior Strahilevitz, Catherine Tucker, Tommaso Valletti, article page and view author disclosure statement(s). 442 Acquisti et al.: The Economics of Privacy 443 profession. Seminal studies have investi- economics therefore relate to the topic gated the informative role of prices in mar- of this article, because they pertain to the ket economies (Stigler 1961); the creation trade-offs arising from the public or private of knowledge and the incentives to innovate status of information. For instance, an auc- (Arrow 1962); the prevalence of asymmetric tion may be structured in such a way that its information and adverse selection (Akerlof participants will reveal their true costs or val- 1970); the transmission of private infor- uations, or a tax mechanism may be designed mation through signaling activity (Spence so that the agents will truthfully reveal their 1973); and voluntary disclosures (Grossman types. However, whereas research on auc- 1981; Milgrom 1981). It may be proper, tions and optimal taxation may pertain to however, to think of information economics the private information of abstract economic not as a single field, but as an amalgam of agents (which could be consumers, firms, many related subfields. One such subfield or other entities), the field of privacy eco- now receiving growing attention by econo- nomics, which is our focus, pertains more mists is the subject of this article: the study specifically to personal information of actual of privacy. individuals. As a consequence, of course, the Privacy is difficult to define. It means dif- field is often influenced by research in the ferent things to different people. It has been other branches of information economics. described as the protection of someone’s This article reviews the theoretical and personal space and their right to be left alone empirical economic literature investigating (Warren and Brandeis 1890); the control individual and societal trade-offs associated over and safeguarding of personal informa- with sharing and protecting personal data. In tion (Westin 1967); and an aspect of dignity, particular, it focuses on the flow and use of autonomy, and ultimately human freedom information about individuals by firms. In so (Schoeman 1992). While seemingly differ- doing, the article identifies a number of key ent, these definitions are related, because themes. One theme is that characterizing a they pertain to the boundaries between the single unifying economic theory of privacy self and the others, between private and is hard, because privacy issues of economic shared, or, in fact, public (Altman 1975). relevance arise in widely diverse contexts. As individuals and as consumers, we con- Nevertheless, we are able, within a given con- stantly navigate those boundaries, and the text, to identify a number of robust theoret- decisions we make about them determine ical insights emerging from the literature. A tangible and intangible benefits and costs, for second key theme is that both economic the- ourselves and for society. Thus, at its core, the ory and empirical analysis of privacy expose economics of privacy concerns the trade-offs varying scenarios. In some, privacy protec- associated with the balancing of public and tion can decrease individual and societal wel- private spheres between individuals, orga- fare; in others, privacy protection enhances nizations, and governments. Economists’ them. Thus, it is not possible to conclude interest in privacy has primarily focused on its informational dimension: the trade-offs arising from protecting or sharing of per- more entities (for instance, an email provider monitoring 1 a user’s messages). Other issues arise when that informa- sonal data. Other subfields of information tion is or is made public, and thus possibly accessible by a multitude of entities (for instance, a member of a social networking site publicly sharing personal information on 1 Some of the economic issues we consider in this article her profile). In this article, we will sometimes use the term arise when personal information is or becomes no longer “public” to refer to both types of scenarios—that is, to private because it is shared with, or accessed by, one or information that is no longer private. 444 Journal of Economic Literature, Vol. LIV (June 2016) unambiguously whether privacy protection evolved from an architecture of decentral- entails a net “positive” or “negative” change ized and possibly anonymous interactions in purely economic terms: its impact is con- (Berners-Lee 2000), to one where pack- text specific. A third key theme relates to ets of data capturing all types of behaviors the observation that consumers are rarely (if (from reading to searching, from relaxing to ever) completely aware about privacy threats communicating) are uniquely (Bendrath and and the consequences of sharing and pro- Mueller 2011) and sometimes personally tecting their personal information. Hence, (Xie, Yu, and Abadi 2009) identified. In this market interactions involving personal data environment, a few “gatekeeper” firms are in often take place in the absence of individ- a position to control the tracking and linking uals’ fully informed consent. Furthermore, of those behaviors across platforms, online specific heuristics may profoundly influence services, and sites—for billions of users. As a consumers’ privacy decision making. result, chronicles of peoples’ actions, desires, interests, and mere intentions are collected 1.1 The Value of Personal Data and the by third parties, often without individuals’ Value of Privacy knowledge or explicit consent, with a scope, Economists’ interest in informational pri- breadth, and detail that are arguably without vacy, generally intended as the control or precedent in human history. protection of personal information, can be Such vast amounts of collected data have readily understood: the protection and dis- obvious and substantial economic value. closure of personal data are likely to generate Individuals’ traits and attributes (such as a trade-offs with tangible economic dimen- person’s age, address, gender, income, pref- sions. The transition of modern economies erences, and reservation prices, but also her toward production of knowledge and recent clickthroughs, comments posted online, radical advancements in information tech- photos uploaded to social media, and so nology (in particular, the rise of the Internet) forth) are increasingly regarded as business have vastly enlarged the amount of individ- assets that can be used to target services
Recommended publications
  • Making the Right Move
    MAKING THE RIGHT MOVE Investing and Creating Jobs in the Pittsburgh Region REAL PITTSBURGH REAL PEOPLE Looking Ahead: 2014 and Beyond Imagining a Bright Future for Our Region – and Making it Happen By Charles E. Bunch In many ways, the Pittsburgh region has com- Boomers. We’re seeing this on our job search engine within Imag- pleted the economic, environmental and qual- inePittsburgh.com, where the number of open jobs across the 10- ity-of-life transformation begun 30 years ago. county Pittsburgh region numbered around 25,000 at last count. We bottomed out in 1983, with an unemploy- ment rate over 18 percent. Throughout 2013, The Conference is addressing this opportunity in a variety of ways, in- WHEN YOU INVEST IN THE cluding through our robust talent attraction and retention initiative, COMMUNITY, THE RETURNS our jobless rate outperformed the state and the nation as a whole. We’re closing the year with the largest workforce which includes ImaginePittsburgh.com. We’re also working with ARE GUARANTEED. in regional history – about 100,000 more people employed than at our partners in workforce development to increase the supply of trained At Huntington, we know how important it is to give back to workers in the region. One such program, ShaleNET, has been such the community. After all, we do more than just work here – we industrial peak in 1979. live and raise our families here too. And after everything this a success that the federal government has increased its investment to community has done for us, we’re just happy to be able to We are enjoying the fruits of three decades of hard work by countless expand it to other states.
    [Show full text]
  • Antimicrobial Resistance Benchmark 2020 Antimicrobial Resistance Benchmark 2020
    First independent framework for assessing pharmaceutical company action Antimicrobial Resistance Benchmark 2020 Antimicrobial Resistance Benchmark 2020 ACKNOWLEDGEMENTS The Access to Medicine Foundation would like to thank the following people and organisations for their contributions to this report.1 FUNDERS The Antimicrobial Resistance Benchmark research programme is made possible with financial support from UK AID and the Dutch Ministry of Health, Welfare and Sport. Expert Review Committee Research Team Reviewers Hans Hogerzeil - Chair Gabrielle Breugelmans Christine Årdal Gregory Frank Fatema Rafiqi Karen Gallant Nina Grundmann Adrián Alonso Ruiz Hans Hogerzeil Magdalena Kettis Ruth Baron Hitesh Hurkchand Joakim Larsson Dulce Calçada Joakim Larsson Marc Mendelson Moska Hellamand Marc Mendelson Margareth Ndomondo-Sigonda Kevin Outterson Katarina Nedog Sarah Paulin (Observer) Editorial Team Andrew Singer Anna Massey Deirdre Cogan ACCESS TO MEDICINE FOUNDATION Rachel Jones The Access to Medicine Foundation is an independent Emma Ross non-profit organisation based in the Netherlands. It aims to advance access to medicine in low- and middle-income Additional contributors countries by stimulating and guiding the pharmaceutical Thomas Collin-Lefebvre industry to play a greater role in improving access to Alex Kong medicine. Nestor Papanikolaou Address Contact Naritaweg 227-A For more information about this publication, please contact 1043 CB, Amsterdam Jayasree K. Iyer, Executive Director The Netherlands [email protected] +31 (0) 20 215 35 35 www.amrbenchmark.org 1 This acknowledgement is not intended to imply that the individuals and institutions referred to above endorse About the cover: Young woman from the Antimicrobial Resistance Benchmark methodology, Brazil, where 40%-60% of infections are analyses or results.
    [Show full text]
  • 2010 IMRF Addendum to the 2010 Comprehensive Annual Financial
    Illinois Municipal Retirement Fund Addendum to the 2010 Comprehensive Annual Financial Report For the year ending December 31, 2010 Illinois Municipal Retirement Fund Investment Portfolio as of December 31, 2010 Interest Asset Description Rate Maturity Date Par Value Cost Value Market Value FIXED INCOME U.S. Securities Corporate Bonds 1st Horizon Natl 5.38% 12/15/2015 $ 500,000 $ 498,345 $ 504,710 Abbott Labs 5.13% 4/1/2019 2,830,000 2,817,746 3,116,011 Acco Brands Corp 10.63% 3/15/2015 90,000 88,652 101,250 Ace Cash Express 10.25% 10/1/2014 330,000 330,000 290,400 Actuant Corp 6.88% 6/15/2017 990,000 991,138 1,012,275 Adobe Sys Inc 4.75% 2/1/2020 2,365,000 2,319,805 2,419,182 AEP Inds Inc Sr Nt 7.88% 3/15/2013 180,000 180,000 179,325 AES Corp 7.75% 3/1/2014 350,000 373,988 373,625 AES Corp 7.75% 10/15/2015 580,000 580,000 619,150 AES Corp 8.00% 10/15/2017 140,000 141,075 148,050 Affiliated 5.20% 6/1/2015 650,000 675,340 689,794 Affinia Group Inc 9.00% 11/30/2014 720,000 668,494 739,800 AFLAC Inc 8.50% 5/15/2019 2,745,000 3,255,410 3,394,173 AFLAC Inc 6.45% 8/15/2040 3,000,000 2,984,970 3,072,534 Air Med Group 9.25% 11/1/2018 980,000 980,000 1,029,000 Ak Stl Corp Sr Nt 7.63% 5/15/2020 100,000 99,000 100,250 Albertsons Inc 7.50% 2/15/2011 1,500,000 1,523,385 1,501,875 Alcoa Inc 6.15% 8/15/2020 3,000,000 2,996,130 3,080,703 Alere Inc 8.63% 10/1/2018 1,045,000 1,046,575 1,060,675 Aleris International Inc Dip 10.46% 12/19/2013 139,837 61,794 143,858 Aleris Intl Inc B-1 Ru 4.25% 12/19/2013 325,784 286,376 146,603 Aleris Intl Inc Sr 9.00% 12/15/2014
    [Show full text]
  • 2013-2014 Carnegie Mellon University
    Carnegie Mellon University 1 2013-2014 Undergraduate Catalog Foreword Administration This catalog is intended to detail the University’s academic programs, SUBRA SURESH, President. policies and services for use by current undergraduate students, faculty, and administrators. We appreciate that applicants, prospective MARK S. KAMLET, Provost and Executive Vice President. students, and many other people will read this material, as well, for some RANDAL E. BRYANT, Dean, School of Computer Science. understanding of University programs and culture. AMY BURKERT, Vice Provost for Education. Information in the catalog is current as of August 2013; the next Catalog will be published in August 2014. In the interim, new courses will be announced JAY S. CALHOUN, Treasurer. in the course schedules which are usually available in November and April ILKER BAYBARS, Dean, CMU-Qatar. and on the Web (www.cmu.edu/hub ). GINA CASALEGNO, Dean, Office of Student Affairs. The program requirements and academic policies set forth in this Catalog are subject to change. As a consequence, students are expected to MARY JO DIVELY, Vice President and General Counsel. consult with their individual college or department for the most up-to- date information about program requirements, and should consult the ROBERT M. DAMMON, Dean, David A. Tepper School of Business. University’s policy website for the most current statements of University DAVID DZOMBAK, Interim Vice Provost of Sponsored Programs. policy. JAMES H. GARRETT JR., Dean, Carnegie Institute of Technology. Any changes or updated information from any member of the campus community should be directed to John Papinchak, University Registrar. FREDERICK GILMAN, Dean, Mellon College of Science.
    [Show full text]
  • 2012 Annual Report Greaterpittsburghchamberofcommerce Pennsylvaniaeconomyleagueofgreaterpittsburgh Pittsburghregionalalliance
    ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT 2012 ANNUAL REPORT GREATER PITTSBURGH CHAMBER OF COMMERCE PENNSYLVANIA ECONOMY LEAGUE OF GREATER PITTSBURGH PITTSBURGH REGIONAL ALLIANCE 11 STANWIX STREET, 17th FLOOR | PITTSBURGH, PA 15222-1312 TOLL FREE: 1 (877) 392-1300 | PHONE: (OUTSIDE OF U.S. AND CANADA) +1 (412) 281-1890 | FAX: (412) 471-2554 | AlleghenyConference.org Mission Statement Pittsburgh: A Re-Imagined, Re-Made Region The Allegheny Conference on Community Development and its affiliates – the Greater Pittsburgh Chamber of Commerce, the Pennsylvania Economy League of Greater Pittsburgh and the Pittsburgh Regional Alliance (PRA) – work together to FROM THE CHAIR stimulate economic growth and improve the quality of life in southwestern Pennsylvania. The Allegheny Conference and the Pittsburgh region are recognizing impor- tant milestones in 2013. For the Conference, this is the 10th anniversary of our affiliation with the Greater Pittsburgh Chamber of Commerce, the Penn- About the Conference: sylvania Economy League of Greater Pittsburgh and the Pittsburgh Regional Alliance. For our region, this marks 30 years since the metro unemployment The Whole Is Greater Than the Sum of the Parts rate hit an all-time high of 18 percent. Since then, the Pittsburgh region has been re-imagined and re-made. Today, ounded in 1944, the Allegheny Con- zations – to provide time, talent and re- research, analysis and advocacy to iden- more people are in our workforce than ever before. Our population is growing, Fference on Community Development sources to advance our agenda. tify and address competitive challenges and growing younger and better educated. Our diverse economy and high is one of the nation's leading economic and encourage business investment in quality of life are attracting global attention.
    [Show full text]
  • In the United States District Court for the Western District of Pennsylvania
    Case 2:04-cv-00921-DSC Document 57 Filed 12/19/06 Page 1 of 24 IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT OF PENNSYLVANIA PATRICIA HUNT SINACOLE, ) Plaintiff, ) ) vs. ) 2:04cv0921 ) Electronic Filing IGATE CAPITAL, a/k/a IGATE ) CAPITAL CORP., a/k/a IGATE ) CORPORATION, ) Defendant. ) MEMORANDUM OPINION December 19, 2006 I. INTRODUCTION Defendant, iGate Capital, a/k/a iGate Capital Corp., a/k/a iGate Corporation (“iGate”), has filed a motion for summary judgment. After careful consideration of the motion, the memoranda of law in support and in opposition and the supporting materials supplied by the parties, this Court will grant the motion. II. STATEMENT OF THE CASE Plaintiff, Patricia Hunt Sinacole, was discharged from her employment on June 30, 2001. She contends that her termination constituted discrimination on the basis of her sex and pregnancy and that it violated her rights under Title VII of the Civil Rights Act of 1964, 42 U.S.C. §§ 2000e to 2000e-17 (Title VII), the Pregnancy Discrimination Act, 42 U.S.C. § 2000e(k) (PDA), the Family and Medical Leave Act of 1993, 29 U.S.C. §§ 2601-54 (FMLA) and the Pennsylvania Human Relations Act, 43 P.S. §§ 951-63 (PHRA). She also alleges that it constituted a breach of her employment contract under Pennsylvania law, for which she seeks salary, wages and benefits under the Pennsylvania Wage Payment and Collection Law, 43 P.S. §§ 260.1 to 260.12 (WPCL). Facts Plaintiff and Mastech Systems Corporation (“MSC”) were parties to a written employment agreement dated April 14, 1998 and effective May 4, 1998.
    [Show full text]
  • European Technology Report Tech Increased Interest in Continental
    November 2016 Investment Banking European Tech M&A Activity Continues Post-Brexit Referendum In This Report SoftBank–ARM, Micro Focus–HP deals highlight ongoing activity in British European Technology Report tech Increased interest in Continental EuropeanTalend becomes fin tech the latest European tech company to have a successful U.S. IPO M&A, capital-raising, and public comps stats across European tech CONTENTS Executive Summary 1 Market Update and Analysis 3 William Blair Global Technology Banking Franchise 5 Sector and Transaction Data 7 EXECUTIVE SUMMARY European Tech M&A Activity Continues Post-Brexit Referendum Innovative technology industry. Two major transactions in Trustmarque Solutions, an end-to-end companies across the the third quarter, SoftBank’s IT solutions and services provider to acquisition of ARM and Micro Focus’s the public and private sector in the Continent are drawing acquisition of Hewlett Packard United Kingdom, on its sale to Capita, significant interest from Enterprise’s software business, one of the United Kingdom’s leading potential buyers. illustrate the continued outbound and providers of technology-enabled inbound activity involving U.K.-based business process management and The United Kingdom’s intended technology companies. outsourcing solutions. In August, we withdrawal from the European Union advised Liberata, a provider of On July 18, Japan-based SoftBank will be a complicated, drawn-out business process outsourcing, announced that it was acquiring process, and Brexit’s full impact on services, and automation to the U.K. Cambridge-based microprocessor M&A and capital-raising activity will public sector, on its sale to Tokyo- manufacturer ARM for $32 billion.
    [Show full text]
  • ACCD Annual Report 03
    REGIONAL VISION GLOBAL IMPACT The Allegheny Conference on Community Development and its affiliates (Pittsburgh Regional Alliance, Greater Pittsburgh Chamber of Commerce and Pennsylvania Economy League —Western Division) are advancing 3 Rivers: One Future, a regional initiative to stimulate growth in Southwestern Pennsylvania’s economy and improve its quality of life. Regional Enterprise Tower ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT 425 Sixth Avenue, Suite 1100 Pittsburgh, PA 15219 AND ITS AFFILIATES Toll-free: 1 (877) 392-1300 Phone: (outside of U.S. and Canada) +1 (412) 392-1000 ANNUAL REPORT 2003 Fax: (412) 392-1005 Email: ???? www.accdpel.org PENNSYLVANIA ECONOMY LEAGUE GREATER PITTSBURGH CHAMBER OF COMMERCE PITTSBURGH REGIONAL ALLIANCE REGIONAL VISION GLOBAL IMPACT 03 LETTER FROM THE CHAIRMAN For almost 250 years, Southwestern universities, a strong work ethic and Pennsylvania has been a point of a high quality of life. Working in convergence, of east and west, capital partnership with numerous organizations and creativity, and innovation and and the public sector, we will prevail. entrepreneurship. Today, the private To the members of the Allegheny sector leadership of our region is Conference Regional Investors Council, converging again to advance a shared your commitment of time, talent and vision, 3 Rivers: One Future. The resources is an essential component leadership of the Allegheny Conference for our region’s success. I also commend on Community Development and its our many stakeholders and partners. Affiliates, the Pennsylvania Economy Economic and community development League-Western Division, Greater is a long-term investment. I extend my Pittsburgh Chamber of Commerce and personal thanks for your continued Pittsburgh Regional Alliance has created participation and leadership.
    [Show full text]
  • Annual Report 2016
    2016 ANNUAL REPORT 2016 ANNUAL REPORT CAPGEMINI REPORT ANNUAL 2016 On the cover CLAUDE TÉTOT Sans titre 3, 2008 Oil on canvas 165 x 200 cm 65 x 78.7 in 2016 annual report CONTENTS P.4 / Our strategy P.24 / Our businesses A passion for The digital technology transition p.6 Conversation: Paul Hermelin and three p.26 Creating value for our clients new recruits discuss the future p.28 Digital transformation at scale p.10 Board of Directors p.32 Financial Services: A sea of changes p.12 Executive Committee p.34 Bank of Ireland & Capgemini: p.14 Managerial team Building the bank of the future p.16 2016 in figures p.36 Forward-looking partnerships p.20 2016 in words p.37 Consumer Products, Retail and Distribution: The digital boom p.38 IKEA & Capgemini: Improving the customer experience p.40 New jobs, new skills p.42 Automotive: The drive to a connected future p.44 Always more competitiveness About the artists Bruno Rousselot Claude Tétot Russell Tyler French artist Bruno French artist Claude American artist Russell Rousselot explores the Tétot seeks to push Tyler weaves distinct realms of a new geometric the boundaries of his formal traditions into a abstraction rooted in the art beyond modernist language all of his own subtle interplay of color and postmodernist through a conceptual Discover our website and light. His paintings conventions. His work and material exploration and see more content on capture the harmony is both non-expressive of the painter’s art. inherent in the concept and non-narrative.
    [Show full text]
  • Annual Report08
    08_AR_build.qxd:Layout 1 3/23/09 1:04 PM Page 1 ANNUAL REPORT08 ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT AND ITS AFFILIATES GREATER PITTSBURGH CHAMBER OF COMMERCE PENNSYLVANIA ECONOMY LEAGUE OF SOUTHWESTERN PENNSYLVANIA PITTSBURGH REGIONAL ALLIANCE About the Conference ounded in 1944, the Allegheny Con - Three affiliated organizations, each staffed The PITTSBURGH REGIONAL ALLIANCE Fference on Community Development by the Conference, provide research and (PRA), a 10-county regional economic is one of the nation’s leading economic analysis, advocacy and marketing to realize development partnership, markets south - and community development organiza - the vision of the Conference leadership. western Pennsylvania to companies tions. Combining strong private sector across the region and around the world The PENNSYLVANIA ECONOMY LEAGUE OF leadership with commitment from public to attract capital investment and stim - SOUTHWESTERN PENNSYLVANIA provides sector partners, we work to stimulate eco - ulate job creation. public policy research and analysis on the nomic growth and improve the Pittsburgh most critical issues for our region’s com - region’s quality of life. Our strategic focus petitiveness. is on creating a more competitive busi - ness climate and marketing the Pitts - The GREATER PITTSBURGH CHAMBER OF burgh region for investment and job COMMERCE, working with private and creation. The Conference relies upon the public sector partners, serves as our re - Regional Investors Council – leaders of gion’s chief advocate at all levels of gov - more than 300 companies and organiza - ernment to secure public sector investment tions – to provide time, talent and re - and legislative and regulatory improve - sources to advance our agenda. ments to our business climate.
    [Show full text]
  • UNITED STATES SECURITIES and EXCHANGE COMMISSION Washington, D.C
    UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 Check here if Amendment [_]; Amendment Number: ------------ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: The PNC Financial Services Group, Inc. Address: 249 Fifth Avenue Pittsburgh, PA 15222-2707 Form 13F File Number: 28-1235 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing the Report on behalf of Reporting Manager: Name: Joseph C. Guyaux Title: President Phone: (412) 762-2569 Signature, Place, and Date of Signing: /s/ Joseph C. Guyaux - -------------------- Pittsburgh, PA May 9, 2008 [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [_] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name None None Page 2 Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 6 Form 13F Information Table Entry Total: 3,359 Form 13F Information Table Value Total: $35,935,296 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
    [Show full text]
  • APQC MEMBER LIST by INDUSTRY As of June 30, 2015
    APQC MEMBER LIST BY INDUSTRY as of June 30, 2015 Members of APQC represent leaders in industry, service, government, and education. These organizations come to APQC for best practices and emerging trends, networking opportunities, benchmarking training, and advisory support in their continuing efforts to become and remain world‐ class organizations. MEMBERS Accounting Automotive (Cont.) Construction ADP Ford Motor Company CEMEX Research Group AG Auditor General of South Africa General Motors Corporation Cementos Argos Accounting Harley-Davidson, Inc. GMI Projects Hamburg GmbH Re:Sources EMEA Nemak Construction (Cont.) Aerospace Remy International, Inc. Lend Lease Management Services Airbus SAS Broadcast/Radio/TV/Cable/Media NCC AB BAE Systems MediaCorp Odebrecht Bombardier Aerospace Inc. Chemicals Panama Canal Authority Gulfstream Aerospace Corporation Aditya Birla Group Zachry Holdings, Inc. Honeywell International Inc. Agilent Technologies Singapore Pte. Consumer Products/ Lockheed Martin Corporation Ltd. Packaged Goods Northrop Grumman Corporation Air Liquide Coca-Cola Hellenic Austria Rockwell Collins Akzo Nobel N.V. FrieslandCampina Rolls-Royce plc Arizona Chemical Company Ragasa Industrias Spirit Aerosystems Holdings, Inc. Axalta Coating Systems Durable Goods Textron BASF Corporation Kennametal Inc. Bayer MaterialScience AG The Boeing Company Education (Higher Education) Dow Corning Corporation United Launch Alliance MacEwan University Equate Petrochemical Company United Technologies Corporation Post University (Baldrige School
    [Show full text]