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<p>"If people let the government decide what foods they eat and what medicines they take, their bodies will soon be in as sorry a state as are the souls of those who live under tyranny." Thomas Jefferson US Senate passes the Patriot Act for Food, S510, by a vote of 73 to 25 The Food Safety Modernization Act of 2010. How can this be bad, you say? Don't we want our food to be "safe", and don't we want to use technology to "modernize" things? Well, if all this bill was doing was to make our food supply safe and modern, there would be no isse...but sadly, it's more than that, much more. S 510, the Food Safety Modernization Act, may be the most dangerous bill in the history of the US. S 510, the Food Safety Modernization Act, may be the most dangerous bill in the history of the US. It is to our food what the bailout was to our economy, only we can live without money. "If accepted [S 510] would preclude the public's right to grow, own, trade, transport, share, feed and eat each and every food that nature makes. It will become the most offensive authority against the cultivation, trade and consumption of food and agricultural products of one's choice. It will be unconstitutional and contrary to natural law or, if you like, the will of God." ~Dr. Shiv Chopra, Canada Health whistleblower It is similar to what India faced with imposition of the salt tax during British rule, only S 510 extends control over all food in the US, violating the fundamental human right to food. Monsanto says it has no interest in the bill and would not benefit from it, but Monsanto's Michael Taylor who gave us rBGH and unregulated genetically modified (GM) organisms, appears to have designed it and is waiting as an appointed Food Czar to the FDA (a position unapproved by Congress) to administer the agency it would create -- without judicial review -- if it passes. S 510 would give Monsanto unlimited power over all US seed, food supplements, food and farming." <a href="javascript:;" type="external">source - Food Freedom/Steve Green</a></p>
<p>S 510 fails on moral, social, economic, political, constitutional, and human survival grounds. 1. It puts all US food and all US farms under Homeland Security and the Department of Defense, in the event of contamination or an ill-defined emergency. It resembles the Kissinger Plan. " 2. It would end US sovereignty over its own food supply by insisting on compliance with the WTO, thus threatening national security. It would end the Uruguay Round Agreement Act of 1994, which put US sovereignty and US law under perfect protection. Instead, S 510 says: COMPLIANCE WITH INTERNATIONAL AGREEMENTS. Nothing in this Act (or an amendment made by this Act) shall be construed in a manner inconsistent with the agreement establishing the World Trade Organization or any other treaty or international agreement to which the United States is a party. 3. It would allow the government, under Maritime Law, to define the introduction of any food into commerce (even direct sales between individuals) as smuggling into "the United States." Since under that law, the US is a corporate entity and not a location, "entry of food into the US" covers food produced anywhere within the land mass of this country and "entering into" it by virtue of being produced. The Federal Government does not want you living independent of them, and they are trying very hard to stop you from doing that. S510 - The Food Safety Modernization Act of 2010 4. It imposes Codex Alimentarius on the US, a global system of control over food. It allows the United Nations (UN), World Health Organization (WHO), UN Food and Agriculture Organization (FAO), and the WTO to take control of every food on earth and remove access to natural food supplements. Its bizarre history and its expected impact in limiting access to adequate nutrition (while mandating GM food, GM animals, pesticides, hormones, irradiation of food, etc.) threatens all safe and organic food and health itself, since the world knows now it needs vitamins to survive, not just to treat illnesses. 5. It would remove the right to clean, store and thus own seed in the US, putting control of seeds in the hands of Monsanto and other multinationals, threatening US security. See Seeds - How to criminalize them, for more details. 6. It includes NAIS, an animal traceability program that threatens all small farmers and ranchers raising animals. The UN is participating through the WHO, FAO, WTO, and World Organisation for Animal Health (OIE) in allowing mass slaughter of even heritage breeds of animals and without proof of disease. Biodiversity in farm animals is being wiped out to substitute genetically engineered animals on which corporations hold patents. Animal diseases can be falsely declared. S 510 includes the Centers for Disease Control (CDC), despite its corrupt involvement in the H1N1 scandal, which is now said to have been concocted by the corporations. His crime? Growing his own produce and giving it away... S510 - The Food Safety Modernization Act of 2010 7. It extends a failed and destructive HACCP to all food, thus threatening to do to all local food production and farming what HACCP did to meat production - put it in corporate hands and worsen food safety. 8. It deconstructs what is left of the American economy. It takes agriculture and food, which are the cornerstone of all economies, out of the hands of the citizenry, and puts them under the total control of multinational corporations influencing the UN, WHO, FAO and WTO, with HHS, and CDC, acting as agents, with Homeland Security as the enforcer. The chance to rebuild the economy based on farming, ranching, gardens, food production, natural health, and all the jobs, tools and connected occupations would be eliminated. Sorry, Glenn, but the Senate voted and passed this... 9. It would allow the government to mandate antibiotics, hormones, slaughterhouse waste, pesticides and GMOs. This would industrialize every farm in the US, eliminate local organic farming, greatly increase global warming from increased use of oil-based products and long-distance delivery of foods, and make food even more unsafe. The five items listed -- the Five Pillars of Food Safety -- are precisely the items in the food supply which are the primary source of its danger. 10. It uses food crimes as the entry into police state power and control. The bill postpones defining all the regulations to be imposed; postpones defining crimes to be punished, postpones defining penalties to be applied. It removes fundamental constitutional protections from all citizens in the country, making them subject to a corporate tribunal with unlimited power and penalties, and without judicial review. It is (similar to C-6 in Canada) the end of Rule of Law in the US. <a href="javascript:;" type="external">source - Food Freedom/Steve Green</a> <a href="3" type="external">S510 - The Food Safety Modernization Act of 2010</a></p>
<p><a href="3" type="external" />**UPDATE** - A food safety bill that has burned up precious days of the Senate's lame-duck session appears headed back to the chamber because Democrats violated a constitutional provision requiring that tax provisions originate in the House. By pre-empting the House's tax-writing authority, Senate Democrats appear to have touched off a power struggle with members of their own party in the House. The Senate passed the bill Tuesday, sending it to the House, but House Democrats are expected to use a procedure known as "blue slipping" to block the bill, according to House and Senate GOP aides. The debacle could prove to be a major embarrassment for Senate Democrats, who sought Tuesday to make the relatively unknown bill a major political issue by sending out numerous news releases trumpeting its passage. <a href="javascript:;" type="external">source - Roll Call</a> <a href="3" type="external" /></p> US Senate passes the Patriot Act for Food, S510, by a vote of 73 to 25 The Food Safety Modernization Act of 2010. S 510 fails on moral, social, economic, political, constitutional, and human survival grounds. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. | true | 0 | people let government decide foods eat medicines take bodies soon sorry state souls live tyranny thomas jefferson us senate passes patriot act food s510 vote 73 25 food safety modernization act 2010 bad say dont want food safe dont want use technology modernize things well bill make food supply safe modern would issebut sadly much 510 food safety modernization act may dangerous bill history us 510 food safety modernization act may dangerous bill history us food bailout economy live without money accepted 510 would preclude publics right grow trade transport share feed eat every food nature makes become offensive authority cultivation trade consumption food agricultural products ones choice unconstitutional contrary natural law like god dr shiv chopra canada health whistleblower similar india faced imposition salt tax british rule 510 extends control food us violating fundamental human right food monsanto says interest bill would benefit monsantos michael taylor gave us rbgh unregulated genetically modified gm organisms appears designed waiting appointed food czar fda position unapproved congress administer agency would create without judicial review passes 510 would give monsanto unlimited power us seed food supplements food farming source food freedomsteve green 510 fails moral social economic political constitutional human survival grounds 1 puts us food us farms homeland security department defense event contamination illdefined emergency resembles kissinger plan 2 would end us sovereignty food supply insisting compliance wto thus threatening national security would end uruguay round agreement act 1994 put us sovereignty us law perfect protection instead 510 says compliance international agreements nothing act amendment made act shall construed manner inconsistent agreement establishing world trade organization treaty international agreement united states party 3 would allow government maritime law define introduction food commerce even direct sales individuals smuggling united states since law us corporate entity location entry food us covers food produced anywhere within land mass country entering virtue produced federal government want living independent trying hard stop s510 food safety modernization act 2010 4 imposes codex alimentarius us global system control food allows united nations un world health organization un food agriculture organization fao wto take control every food earth remove access natural food supplements bizarre history expected impact limiting access adequate nutrition mandating gm food gm animals pesticides hormones irradiation food etc threatens safe organic food health since world knows needs vitamins survive treat illnesses 5 would remove right clean store thus seed us putting control seeds hands monsanto multinationals threatening us security see seeds criminalize details 6 includes nais animal traceability program threatens small farmers ranchers raising animals un participating fao wto world organisation animal health oie allowing mass slaughter even heritage breeds animals without proof disease biodiversity farm animals wiped substitute genetically engineered animals corporations hold patents animal diseases falsely declared 510 includes centers disease control cdc despite corrupt involvement h1n1 scandal said concocted corporations crime growing produce giving away s510 food safety modernization act 2010 7 extends failed destructive haccp food thus threatening local food production farming haccp meat production put corporate hands worsen food safety 8 deconstructs left american economy takes agriculture food cornerstone economies hands citizenry puts total control multinational corporations influencing un fao wto hhs cdc acting agents homeland security enforcer chance rebuild economy based farming ranching gardens food production natural health jobs tools connected occupations would eliminated sorry glenn senate voted passed 9 would allow government mandate antibiotics hormones slaughterhouse waste pesticides gmos would industrialize every farm us eliminate local organic farming greatly increase global warming increased use oilbased products longdistance delivery foods make food even unsafe five items listed five pillars food safety precisely items food supply primary source danger 10 uses food crimes entry police state power control bill postpones defining regulations imposed postpones defining crimes punished postpones defining penalties applied removes fundamental constitutional protections citizens country making subject corporate tribunal unlimited power penalties without judicial review similar c6 canada end rule law us source food freedomsteve green s510 food safety modernization act 2010 update food safety bill burned precious days senates lameduck session appears headed back chamber democrats violated constitutional provision requiring tax provisions originate house preempting houses taxwriting authority senate democrats appear touched power struggle members party house senate passed bill tuesday sending house house democrats expected use procedure known blue slipping block bill according house senate gop aides debacle could prove major embarrassment senate democrats sought tuesday make relatively unknown bill major political issue sending numerous news releases trumpeting passage source roll call us senate passes patriot act food s510 vote 73 25 food safety modernization act 2010 510 fails moral social economic political constitutional human survival grounds 1 2 3 4 5 6 7 8 9 10 | 769 |
<p>There is near universal agreement that the Brexit – and the walloping it gave the market – was a <a href="http://www.investopedia.com/terms/b/blackswan.asp" type="external">black swan event Opens a New Window.</a>. But actually defining what a black swan is can be a challenge.</p>
<p>Most investors equate a black swan with a market crash. But that’s really putting the cart before the horse. A black swan is simply an event that no one saw coming… that also has a large, outsized impact.</p>
<p>Continue Reading Below</p>
<p>So a market crash is more the result of a black swan than a black swan itself.</p>
<p>And a black swan need not always be something bad.</p>
<p>Sure, a meteor falling out of the sky and hitting your house would be a black swan event. But so would be an inheritance check for a million dollars from an aunt you never knew you had.</p>
<p>Both would be completely unexpected… and both would have major impacts on your life.</p>
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<p>Trader, professor and financial writer <a href="http://www.fooledbyrandomness.com/" type="external">Nassim Nicholas Taleb Opens a New Window.</a>made “black swan” a household word and gave it its current meaning, but the expression has been around a lot longer for something that was assumed to be impossible.</p>
<p>The first recorded use of black swan as this kind of metaphor dates to the Roman Empire, and it was a common expression in 1500s London.</p>
<p>Until 1636 – when European exploration of Australia was underway – all swans were presumed to be white. No one had ever seen a black swan, so it was presumed that none existed.</p>
<p>If you want to get really wonky, the black swan is an example of the problem of induction, or trying to draw general conclusions from specific observations.</p>
<p>In plain English, seeing a thousand white swans and not a single black swan doesn’t “prove” that no black swans exist. And just because something has never happened before doesn’t mean it can never happen.</p>
<p>Up until March of 2000, it was popularly believed to be impossible for a tornado to hit a major, urban area.</p>
<p>The thinking was that the skyscrapers affected the wind patterns in such as a way as to make a tornado touchdown impossible.</p>
<p>Well, then on March 28, 2000, an F3 tornado touched down on downtown Fort Worth’s Main Street and proceeded to obliterate one of the largest skyscrapers in the city.</p>
<p>Let’s get back to Nassim Taleb. In a black swan of the financial variety, Taleb says you need to have three conditions in place:</p>
<p>And this is where you get back to the fun parallels with finance. No country has ever left the European Union before… and no opinion poll or betting market suggested it was possible.</p>
<p>So the financial markets assumed a UK vote to leave to be impossible.</p>
<p>Well… it turned out that it wasn’t impossible, and the impact was definitely outsized. No one knew at the time – or knows now – what the full impact of Brexit will be once all is said and done.</p>
<p>And as for the narrative, after the fact, it became “obvious” that Brexit would happen because of the dissatisfaction of older, blue-collar British voters, the rise of Donald Trump in America or any number of other reasons.</p>
<p>So, Brexit does indeed make the cut as a black swan.</p>
<p>All of this is fine and good, but if black swans are always unpredictable and obvious only after the fact… what’s the point of even talking about them?</p>
<p>In my opinion, even if you can’t anticipate individual black swans, you can definitely take a few simple steps to “black swan proof” your portfolio.</p>
<p>First, don’t make the assumption that something can’t happen simply because it hasn’t happened yet. Don’t be overconfident based on your limited observations.</p>
<p>Second, always have a little portfolio insurance. That can mean different things to different investors, but as a general rule, it means you should have a few assets in your portfolio that zig when the market zags.</p>
<p>Taleb himself made enough money in a single day to walk away from Wall Street forever. He was “long volatility” on the day of the 1987 stock market crash, and walked with millions when the market cratered.</p>
<p>Finally, beware of debt. Excessive debt has been the death of many a good trader in my view.</p>
<p>The people who ran <a href="http://www.investopedia.com/terms/l/longtermcapital.asp" type="external">Long-Term Capital Management Opens a New Window.</a>were geniuses.</p>
<p>They were quite literally the men who wrote the books on quantitative finance, a who’s who list of brilliant academics.</p>
<p>And in 1998, their hedge fund blew up in spectacular fashion when a black swan hit. Russia defaulted on its debts, which was something no one expected. It caused investors to dump everything related to emerging markets and run for the hills.</p>
<p>Long-Term Capital Management went out of business, not because it made bad trades, but because it borrowed far too much money to make them in my opinion.</p>
<p>Had the professors simply borrowed less, they would have been able to ride out the storm and live to trade another day.</p>
<p>In my opinion, excessive leverage can turn a safe investment into a risky one and make you more susceptible to black swan risks. So simply avoiding debt will do wonders for making your portfolio black-swan-resistant.</p>
<p>Photo Credit: <a href="https://www.flickr.com/photos/124559226@N08/" type="external">Margaux-Marguerite Duquesnoy Opens a New Window.</a> via <a href="https://www.flickr.com/" type="external">Flickr Creative Commons Opens a New Window.</a></p>
<p><a href="http://cta-redirect.hubspot.com/cta/redirect/304233/d35c314d-234a-4afd-8b0d-7fc75bf8873c" type="external">Opens a New Window.</a>//</p>
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<p>The post <a href="http://investing.covestor.com/2016/07/black-swans-explained" type="external">Black swans explained Opens a New Window.</a> appeared first on <a href="http://investing.covestor.com" type="external">Smarter Investing Opens a New Window.</a>Covestor Ltd. is a registered investment advisor. Covestor licenses investment strategies from its Model Managers to establish investment models. The commentary here is provided as general and impersonal information and should not be construed as recommendations or advice. Information from Model Managers and third-party sources deemed to be reliable but not guaranteed. Past performance is no guarantee of future results. Transaction histories for Covestor models available upon request. Additional important disclosures available at http://site.covestor.com/help/disclosures.</p> | true | 0 | near universal agreement brexit walloping gave market black swan event opens new window actually defining black swan challenge investors equate black swan market crash thats really putting cart horse black swan simply event one saw coming also large outsized impact continue reading market crash result black swan black swan black swan need always something bad sure meteor falling sky hitting house would black swan event would inheritance check million dollars aunt never knew would completely unexpected would major impacts life advertisement trader professor financial writer nassim nicholas taleb opens new windowmade black swan household word gave current meaning expression around lot longer something assumed impossible first recorded use black swan kind metaphor dates roman empire common expression 1500s london 1636 european exploration australia underway swans presumed white one ever seen black swan presumed none existed want get really wonky black swan example problem induction trying draw general conclusions specific observations plain english seeing thousand white swans single black swan doesnt prove black swans exist something never happened doesnt mean never happen march 2000 popularly believed impossible tornado hit major urban area thinking skyscrapers affected wind patterns way make tornado touchdown impossible well march 28 2000 f3 tornado touched downtown fort worths main street proceeded obliterate one largest skyscrapers city lets get back nassim taleb black swan financial variety taleb says need three conditions place get back fun parallels finance country ever left european union opinion poll betting market suggested possible financial markets assumed uk vote leave impossible well turned wasnt impossible impact definitely outsized one knew time knows full impact brexit said done narrative fact became obvious brexit would happen dissatisfaction older bluecollar british voters rise donald trump america number reasons brexit indeed make cut black swan fine good black swans always unpredictable obvious fact whats point even talking opinion even cant anticipate individual black swans definitely take simple steps black swan proof portfolio first dont make assumption something cant happen simply hasnt happened yet dont overconfident based limited observations second always little portfolio insurance mean different things different investors general rule means assets portfolio zig market zags taleb made enough money single day walk away wall street forever long volatility day 1987 stock market crash walked millions market cratered finally beware debt excessive debt death many good trader view people ran longterm capital management opens new windowwere geniuses quite literally men wrote books quantitative finance whos list brilliant academics 1998 hedge fund blew spectacular fashion black swan hit russia defaulted debts something one expected caused investors dump everything related emerging markets run hills longterm capital management went business made bad trades borrowed far much money make opinion professors simply borrowed less would able ride storm live trade another day opinion excessive leverage turn safe investment risky one make susceptible black swan risks simply avoiding debt wonders making portfolio blackswanresistant photo credit margauxmarguerite duquesnoy opens new window via flickr creative commons opens new window opens new window subscribe onceweekly email newsletter get best posts delivered one convenient place browse leisure post black swans explained opens new window appeared first smarter investing opens new windowcovestor ltd registered investment advisor covestor licenses investment strategies model managers establish investment models commentary provided general impersonal information construed recommendations advice information model managers thirdparty sources deemed reliable guaranteed past performance guarantee future results transaction histories covestor models available upon request additional important disclosures available httpsitecovestorcomhelpdisclosures | 560 |
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<p>Nike is set to release fiscal third-quarter 2016 results next Tuesday, March 22, 2016. With shares of the athletic footwear and apparel juggernaut down slightly so far in 2016 despite <a href="http://www.fool.com/investing/general/2015/12/22/nike-inc-delivers-another-solid-quarter.aspx?source=eptfxblnk0000004" type="external">last quarter's solid showing Opens a New Window.</a>,investors will be looking for Nike's year-over-year revenue growth to accelerate in the face of stubborn economic headwinds.</p>
<p>Continue Reading Below</p>
<p>Last quarter, Nike's revenue rose 4% year over year on a reported basis, to $7.69 billion, but would have climbed a much more impressive 12% had it not been for the negative effects of foreign exchange. At the time, however, Nike also revealed worldwide futures orders for NIKE brand footwear and apparel through April 2016 were up 15% year over year, and 20% on a currency-neutral basis. As such, revenue this quarter should be up in the high-single- to low-double-digit percentage range, and currency-neutral revenue should grow in the mid-teens.</p>
<p>That said, investors should also keep an eye on gross margin, which management warned will decline around 50 basis points. According to CEO Mark Parker, this is primarily a product of Nike's efforts to clear "high-quality but excess inventory" in North America, while at the same time allowing them to sustain their innovative product pipeline for the remainder of the fiscal year. To be sure, Nike also insisted gross margin for the full fiscal year 2016 should expand by roughly 50 basis points over fiscal 2015, which indicates the pullback will be temporary as the metric bounces back nicely into the fiscal fourth quarter.</p>
<p>Zooming back out to the drivers of Nike top line, look for continued strength in Nike Brand revenue, which last quarter achieved double-digit growth across every geography and "most" key categories. That will include higher-margin Nike brand direct-to-consumer (DTC) sales, which climbed 26% year over year in fiscal Q2 thanks to new locations, healthy comps, and 49% growth from Nike.com.</p>
<p>Meanwhile, don't be surprised if we see revenue decline once again from the Converse brand -- which Nike astutely acquired for just $305 million in 2003 -- on a year-over-year basis. Last quarter, Converse sales fell 5% year over year at constant currency, as strong growth in North America was offset by declines in Europe. This might sound troubling, but keep in mind CFO Andy Campion warned two quarters ago that Converse's quarterly year-over-year comparisons would be "uneven" in the near term as Nike shifts the brand to a more direct operating model overseas. Campion also elaborated during last quarter's call that the company is currently "more actively leveraging NIKE capabilities and innovation platforms to diversify the Converse product portfolio, as well as elevate our operating capabilities in recently transitioned international markets."</p>
<p>Finally, listen for additional clarification from Nike looking forward. This will include not only any revisions to gross margin and revenue growth in the current quarter, but also perspective on growth in futures orders, which last quarter climbed 15% (20% at constant currency) for the five months ended April 2016. This should give investors a pretty good leading indicator of whether the company will be able to close fiscal 2016 on a high note by maintaining its guidance for full fiscal-year revenue growth in the mid-single-digit percentage range.</p>
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<p>To be fair, that's not to say failing to live up to that guidance in the near term would break Nike's long-term growth story. Recall that this past October Nike unveiled a new goal of achieving $50 billion in annual revenue by the end of fiscal 2020, good for 63% growth from the $30.6 billion it gathered in fiscal 2015. And this past November, Nike pre-empted its fiscal Q2 report by approving its 14th consecutive annual dividend increase, a four-year $12 billion share repurchase program, and a <a href="http://www.fool.com/investing/general/2015/12/23/what-nike-incs-stock-split-really-means.aspx?source=eptfxblnk0000004" type="external">2-for-1 stock split Opens a New Window.</a> that was implemented in December.</p>
<p>With regard to the first two items, any resulting pullbacks could allow Nike investors to maximize the benefits of reinvested dividends and shares bought back at a lower price. So when next week's report hits the wire -- and barring any significant negative surprises -- it seems investors with the time and patience to watch Nike's long-term ambitions unfold are facing a win-win situation.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/03/16/what-to-watch-when-nike-inc-reports-earnings.aspx" type="external">What to Watch When Nike, Inc. Reports Earnings Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFSymington/info.aspx?source=eptfxblnk0000004" type="external">Steve Symington Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Nike. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | nike set release fiscal thirdquarter 2016 results next tuesday march 22 2016 shares athletic footwear apparel juggernaut slightly far 2016 despite last quarters solid showing opens new windowinvestors looking nikes yearoveryear revenue growth accelerate face stubborn economic headwinds continue reading last quarter nikes revenue rose 4 year year reported basis 769 billion would climbed much impressive 12 negative effects foreign exchange time however nike also revealed worldwide futures orders nike brand footwear apparel april 2016 15 year year 20 currencyneutral basis revenue quarter highsingle lowdoubledigit percentage range currencyneutral revenue grow midteens said investors also keep eye gross margin management warned decline around 50 basis points according ceo mark parker primarily product nikes efforts clear highquality excess inventory north america time allowing sustain innovative product pipeline remainder fiscal year sure nike also insisted gross margin full fiscal year 2016 expand roughly 50 basis points fiscal 2015 indicates pullback temporary metric bounces back nicely fiscal fourth quarter zooming back drivers nike top line look continued strength nike brand revenue last quarter achieved doubledigit growth across every geography key categories include highermargin nike brand directtoconsumer dtc sales climbed 26 year year fiscal q2 thanks new locations healthy comps 49 growth nikecom meanwhile dont surprised see revenue decline converse brand nike astutely acquired 305 million 2003 yearoveryear basis last quarter converse sales fell 5 year year constant currency strong growth north america offset declines europe might sound troubling keep mind cfo andy campion warned two quarters ago converses quarterly yearoveryear comparisons would uneven near term nike shifts brand direct operating model overseas campion also elaborated last quarters call company currently actively leveraging nike capabilities innovation platforms diversify converse product portfolio well elevate operating capabilities recently transitioned international markets finally listen additional clarification nike looking forward include revisions gross margin revenue growth current quarter also perspective growth futures orders last quarter climbed 15 20 constant currency five months ended april 2016 give investors pretty good leading indicator whether company able close fiscal 2016 high note maintaining guidance full fiscalyear revenue growth midsingledigit percentage range advertisement fair thats say failing live guidance near term would break nikes longterm growth story recall past october nike unveiled new goal achieving 50 billion annual revenue end fiscal 2020 good 63 growth 306 billion gathered fiscal 2015 past november nike preempted fiscal q2 report approving 14th consecutive annual dividend increase fouryear 12 billion share repurchase program 2for1 stock split opens new window implemented december regard first two items resulting pullbacks could allow nike investors maximize benefits reinvested dividends shares bought back lower price next weeks report hits wire barring significant negative surprises seems investors time patience watch nikes longterm ambitions unfold facing winwin situation article watch nike inc reports earnings opens new window originally appeared foolcom steve symington opens new window position stocks mentioned motley fool owns shares recommends nike try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 518 |
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<p>Pollsters picked the two candidates to make it into next month's French presidential election run-off, going some way to restoring their reputation in financial markets before other important votes across Europe.</p>
<p>Continue Reading Below</p>
<p>Centrist Emmanuel Macron won Sunday's first round vote with 23.91 percent. Far-right nationalist and anti-euro candidate Marine Le Pen came in second with 21.42 percent, almost exactly as polls predicted.</p>
<p>Markets lost faith in polls after they failed to predict that Britain would vote to leave the European Union and that Donald Trump would become U.S. president.</p>
<p>But the French vote, which followed accurate polling of the Dutch election in March, will go some way to restoring faith in them before the second round of the French vote and other major elections in Britain, Germany and Italy.</p>
<p>"Investors who lost confidence in pollsters after they failed to predict the outcomes of the U.S. elections and Brexit vote are viewing them as credible sources of information again," said Hussein Sayed, chief market strategist at FXTM.</p>
<p>Guided by the polls, the two biggest political events in the Western world last year wrongfooted investors.</p>
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<p>With that in mind, they took no chances ahead of the French vote, where the top four candidates were all within about 5 percentage points of each other going into polling day.</p>
<p>The cost of buying protection against large swings in the euro's exchange rate via the options market rose sharply last week, with one-week implied volatility posting its biggest weekly rise on record . =&gt;</p>
<p>But the polls were spot on so few investors now question leads of over 20 percentage points for Macron over Le Pen in the French runoff.</p>
<p>They also have more faith in forecasts showing UK prime minister Theresa May's ruling Conservative Party will command a substantial lead over the opposition Labour Party ahead of the snap June 8 election there.</p>
<p>Italy must also hold a general election before May next year and the populist Five Star movement is neck and neck in polls with the ruling Democratic Party.</p>
<p>"Markets won't forget what happened with Brexit and Trump. They are still casting a shadow and will stick in peoples' minds," said Teeuwe Mevissen, senior macro strategist at Rabobank.</p>
<p>"It's a case by case situation and very dependent on how polls are performed and how accepted populist parties are. But markets see less tail risk."</p>
<p>NO NUMERICAL SHOCK</p>
<p>Any investors who followed the polls and put money on the market's favorite candidate Macron making it to the second round against Le Pen would have benefited from a post-vote surge in stocks, bonds and the euro.</p>
<p>French stocks surged more than 4 percent on Monday , the share price of big European banks like BNP Paribas and Deutsche Bank added 8 percent, and the euro rose above $1.09, its best day in almost a year . =&gt;</p>
<p>The spread between French and German 10-year bond yields shrank more than 20 basis points , its biggest fall in years. =rr&gt; =rr&gt;</p>
<p>The measure of euro volatility against the dollar over the coming month, which captures the May 7 runoff vote in France, fell to around 8 percent from nearly 13 percent on Friday. That marked the biggest fall in a single day since the euro's inception over 17 years ago. =&gt;</p>
<p>Other polls have also recently been accurate. The Dutch election last month, in which Prime Minister Mark Rutte saw off a challenge from far-right rival Geert Wilders to win re-election, was also forecast as the vote drew closer.</p>
<p>And polling for the second round of the French vote should be more straightforward to predict as it is more "clean cut" than the first round, according to Oxford Economics. This is because there are only two candidates and clear differences between them.</p>
<p>"It would take a numerical shock perhaps 5-10 times larger than Brexit or Trump for Le Pen to win," said Deutsche Bank market strategist Jim Reid. "The pre-first round polls have been relatively accurate, so Macron should rightly be red hot favorite now."</p>
<p>Similarly, Theresa May's nationwide lead over her opponents in Britain point to a thumping victory on June 8. Her Conservative Party hit 50 percent in one recent poll, and is projected to win a majority of 100 parliamentary seats or more.</p>
<p>This means there is unlikely to be a significant selloff in UK stocks, bonds or sterling as the election draws closer, analysts say, and the cost of hedging should remain relatively well contained.</p>
<p>Germany also holds its general election in September, when chancellor Angela Merkel could lose her 11-year grip on power.</p>
<p>Investors' fears over this shift have been tempered, however, by the fact that her main rival Martin Schulz is a staunch pro-European and the populist AfD party has registered the biggest drop in support of all the main parties this year.</p>
<p>"The political agenda continues to dominate the headlines, but investors should not allow it to cloud their thinking on markets," Citi analysts wrote in a note on Monday.</p>
<p>"Political uncertainty can create short-term spikes in risk premia, but it does not structurally re-price assets."</p>
<p>(Editing by Anna Willard)</p> | true | 0 | pollsters picked two candidates make next months french presidential election runoff going way restoring reputation financial markets important votes across europe continue reading centrist emmanuel macron sundays first round vote 2391 percent farright nationalist antieuro candidate marine le pen came second 2142 percent almost exactly polls predicted markets lost faith polls failed predict britain would vote leave european union donald trump would become us president french vote followed accurate polling dutch election march go way restoring faith second round french vote major elections britain germany italy investors lost confidence pollsters failed predict outcomes us elections brexit vote viewing credible sources information said hussein sayed chief market strategist fxtm guided polls two biggest political events western world last year wrongfooted investors advertisement mind took chances ahead french vote top four candidates within 5 percentage points going polling day cost buying protection large swings euros exchange rate via options market rose sharply last week oneweek implied volatility posting biggest weekly rise record gt polls spot investors question leads 20 percentage points macron le pen french runoff also faith forecasts showing uk prime minister theresa mays ruling conservative party command substantial lead opposition labour party ahead snap june 8 election italy must also hold general election may next year populist five star movement neck neck polls ruling democratic party markets wont forget happened brexit trump still casting shadow stick peoples minds said teeuwe mevissen senior macro strategist rabobank case case situation dependent polls performed accepted populist parties markets see less tail risk numerical shock investors followed polls put money markets favorite candidate macron making second round le pen would benefited postvote surge stocks bonds euro french stocks surged 4 percent monday share price big european banks like bnp paribas deutsche bank added 8 percent euro rose 109 best day almost year gt spread french german 10year bond yields shrank 20 basis points biggest fall years rrgt rrgt measure euro volatility dollar coming month captures may 7 runoff vote france fell around 8 percent nearly 13 percent friday marked biggest fall single day since euros inception 17 years ago gt polls also recently accurate dutch election last month prime minister mark rutte saw challenge farright rival geert wilders win reelection also forecast vote drew closer polling second round french vote straightforward predict clean cut first round according oxford economics two candidates clear differences would take numerical shock perhaps 510 times larger brexit trump le pen win said deutsche bank market strategist jim reid prefirst round polls relatively accurate macron rightly red hot favorite similarly theresa mays nationwide lead opponents britain point thumping victory june 8 conservative party hit 50 percent one recent poll projected win majority 100 parliamentary seats means unlikely significant selloff uk stocks bonds sterling election draws closer analysts say cost hedging remain relatively well contained germany also holds general election september chancellor angela merkel could lose 11year grip power investors fears shift tempered however fact main rival martin schulz staunch proeuropean populist afd party registered biggest drop support main parties year political agenda continues dominate headlines investors allow cloud thinking markets citi analysts wrote note monday political uncertainty create shortterm spikes risk premia structurally reprice assets editing anna willard | 528 |
<p />
<p>Warren Buffett famously quipped that investors should be "fearful when others are greedy and greedy when others are fearful." Well, given the market's rapid rise since the election, we're a bit apprehensive.</p>
<p>Continue Reading Below</p>
<p>However, instead of running away from the market, we're putting together a list of stocks we'd love to buy should they go on sale. Topping that list areAmerican Tower(NYSE: AMT),First Solar (NASDAQ: FSLR), andTPG Specialty Lending(NYSE: TSLX). Here's why we'd love for them to go on sale.</p>
<p>We're just going to wait for these stocks to come to down to our price. Image source: Getty Images.</p>
<p><a href="http://my.fool.com/profile/TMFUltraLong/info.aspx" type="external">Sean Williams Opens a New Window.</a> (First Solar): The argument could be made that U.S. solar giant First Solaris already on sale, with its share price having fallen by around 60% in a little over a year. However, with the company expected to struggle through a rough 2017 that could see it turn only a nominal profit, and President Trump's energy policies leaning heavily toward favoring fossil fuels over alternative energy, First Solar could be in for a tough year that pushes its stock into even cheaper territory.</p>
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<p>Nonetheless, if First Solar winds up getting cheaper than some pundits have already opined, I'd be delighted to welcome it into my portfolio for the long haul.</p>
<p>One of the clear allures of First Solar is its pristine balance sheet. Practically all of First Solar's competitors are operating with net debt hanging over their heads, constraining their ability to make deals and reinvest in their businesses. On the other hand, First Solar is expected to end 2017 with between $1.4 billion and $1.6 billion in net cash after generating an estimated $250 million to $350 million in operating cash flow.Even if the company meets the low end of this guidance, half of its valuation would be based on its cash. That's exceedingly inexpensive for a technology that's getting cheaper and growing more efficient.</p>
<p>Speaking of efficiency, First Solar is in the process of restructuring its business to focus on its Series 6 upgrades, which are expected to significantly lower costs, boost efficiency, and increase its operating margins. By 2019, First Solar believes it can crank out 3 GW of production, and there's a likelihood that production could be expanded if operating margins come in better than anticipated.In other words, First Solar could easily be generating more than $3 in earnings per share by 2020, if not sooner, and yet half the company's valuation is made up of its net cash position, which is probably going to grow each year.</p>
<p>While Trump's energy policies haven't been solar-friendly, First Solar has a business model and the cash to outlast the current administration and thrive as an alternative form of electricity generation. If First Solar stock goes on sale in the months to come, I will be a buyer.</p>
<p>Image source: Getty Images.</p>
<p><a href="https://my.fool.com/profile/TMFValueMagnet/activity.aspx" type="external">Jordan Wathen Opens a New Window.</a>(TPG Specialty Lending): TPG Specialty Lendinghas proven to be an excellent lender to mostly smaller, private companies in the United States. Shares trade at about 1.25 times book value, giving it the fourth-highest valuation in an industry of about 50 companies.</p>
<p>The <a href="https://www.fool.com/knowledge-center/what-is-a-bdc.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">business development company Opens a New Window.</a> (BDC) doesn't have many of the shackles that weigh on its peers. It has an intelligent shareholder base, who hold it to a high standard. It taps into its own unique deal flow, rather than buying paper that other entities originate. And it has proven effective in sinking its claws into borrowers' collateral when things go wrong, a testament to its ability to minimize downside risks for shareholders.</p>
<p>The only issue with it is the price; I simply don't want to pay up for yield when everyone else is doing it. TPG Specialty Lending and the BDC industry as a whole are riding on the back of the rate tradeas the market looks for new ways to make money should interest rates keep going up. No thanks, for now.</p>
<p><a href="http://my.fool.com/profile/TMFmd19/info.aspx" type="external">Matt DiLallo Opens a New Window.</a> (American Tower): Global cell tower real estate investment trust American Towerhas been a dividend growth lover's dream stock. Since 2012, the company has delivered 25% annual dividend-per-share growth thanks to its expanding global tower business. However, despite all that growth, the stock's current yield is just 2.1%, which is a rather paltry payout for a <a href="https://www.fool.com/knowledge-center/reit.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">real estate investment trust</a> (REIT). That's why I'd like to see the stock come down a bit before I add to my position.</p>
<p>One reason the yield is lower than most other REITs is that American Tower retains a significant portion of its cash flow to finance tower acquisitions. Last year, for example, the company generated $2 billion of free cash flow. However, it only distributed $924 million that of money back to investors. While that was 20% more that it returned the prior year, its payout ratio remained below 50%, well below average in the REIT community. That said, because its payout ratio is less than 50%, American Towers can grow its dividend at a healthy clip.</p>
<p>According to its current guidance, the company expects to boost the dividend by at least 20% this year, which is nearly twice as fast as it anticipates earnings to grow. That growth is noteworthy because it implies that investors buying today can lock in a forward yield of approximately 2.5 %.</p>
<p>While that's better, it would take more than that to entice me to add to my holdings since there are several other compelling income options worth buying today. Personally, I'm holding out for a 20% markdown before I'd bulk up. That would bring the stock price down to the point where when combined with the 20% dividend growth, the forward yield would be closer to 3%, which is much more appealing to me.</p>
<p>10 stocks we like better than First SolarWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=09d6c9f0-0851-4127-9d5b-9b348fdd214f&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and First Solar wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=09d6c9f0-0851-4127-9d5b-9b348fdd214f&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of April 3, 2017</p>
<p><a href="http://my.fool.com/profile/TMFValueMagnet/info.aspx" type="external">Jordan Wathen Opens a New Window.</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/TMFmd19/info.aspx" type="external">Matt DiLallo</a> owns shares of American Tower and has the following options: long January 2018 $80 calls on American Tower and short October 2017 $120 calls on American Tower. <a href="http://my.fool.com/profile/TMFUltraLong/info.aspx" type="external">Sean Williams</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends American Tower. The Motley Fool has the following options: short October 2017 $115 calls on American Tower and long January 2019 $80 calls on American Tower. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | warren buffett famously quipped investors fearful others greedy greedy others fearful well given markets rapid rise since election bit apprehensive continue reading however instead running away market putting together list stocks wed love buy go sale topping list areamerican towernyse amtfirst solar nasdaq fslr andtpg specialty lendingnyse tslx heres wed love go sale going wait stocks come price image source getty images sean williams opens new window first solar argument could made us solar giant first solaris already sale share price fallen around 60 little year however company expected struggle rough 2017 could see turn nominal profit president trumps energy policies leaning heavily toward favoring fossil fuels alternative energy first solar could tough year pushes stock even cheaper territory advertisement nonetheless first solar winds getting cheaper pundits already opined id delighted welcome portfolio long haul one clear allures first solar pristine balance sheet practically first solars competitors operating net debt hanging heads constraining ability make deals reinvest businesses hand first solar expected end 2017 14 billion 16 billion net cash generating estimated 250 million 350 million operating cash floweven company meets low end guidance half valuation would based cash thats exceedingly inexpensive technology thats getting cheaper growing efficient speaking efficiency first solar process restructuring business focus series 6 upgrades expected significantly lower costs boost efficiency increase operating margins 2019 first solar believes crank 3 gw production theres likelihood production could expanded operating margins come better anticipatedin words first solar could easily generating 3 earnings per share 2020 sooner yet half companys valuation made net cash position probably going grow year trumps energy policies havent solarfriendly first solar business model cash outlast current administration thrive alternative form electricity generation first solar stock goes sale months come buyer image source getty images jordan wathen opens new windowtpg specialty lending tpg specialty lendinghas proven excellent lender mostly smaller private companies united states shares trade 125 times book value giving fourthhighest valuation industry 50 companies business development company opens new window bdc doesnt many shackles weigh peers intelligent shareholder base hold high standard taps unique deal flow rather buying paper entities originate proven effective sinking claws borrowers collateral things go wrong testament ability minimize downside risks shareholders issue price simply dont want pay yield everyone else tpg specialty lending bdc industry whole riding back rate tradeas market looks new ways make money interest rates keep going thanks matt dilallo opens new window american tower global cell tower real estate investment trust american towerhas dividend growth lovers dream stock since 2012 company delivered 25 annual dividendpershare growth thanks expanding global tower business however despite growth stocks current yield 21 rather paltry payout real estate investment trust reit thats id like see stock come bit add position one reason yield lower reits american tower retains significant portion cash flow finance tower acquisitions last year example company generated 2 billion free cash flow however distributed 924 million money back investors 20 returned prior year payout ratio remained 50 well average reit community said payout ratio less 50 american towers grow dividend healthy clip according current guidance company expects boost dividend least 20 year nearly twice fast anticipates earnings grow growth noteworthy implies investors buying today lock forward yield approximately 25 thats better would take entice add holdings since several compelling income options worth buying today personally im holding 20 markdown id bulk would bring stock price point combined 20 dividend growth forward yield would closer 3 much appealing 10 stocks like better first solarwhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right first solar wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns april 3 2017 jordan wathen opens new window position stocks mentioned matt dilallo owns shares american tower following options long january 2018 80 calls american tower short october 2017 120 calls american tower sean williams position stocks mentioned motley fool owns shares recommends american tower motley fool following options short october 2017 115 calls american tower long january 2019 80 calls american tower motley fool disclosure policy opens new window | 699 |
<p><a href="" type="internal">Muammar Gaddafi</a> has accepted a roadmap for ending the conflict in Libya including an immediate ceasefire, the African Union said on Monday, but an opposition representative said it would only work if Gaddafi left power.</p>
<p>South African President Jacob Zuma, who met Gaddafi at the head of a delegation of African leaders, urged NATO to stop air strikes on government targets to "give ceasefire a chance".</p>
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<p>Earlier truce offers from Gaddafi have come to nothing and the rebels, who took up arms across the east and in some towns in the west after the Libyan leader crushed protests in February, have said they will accept nothing less than an end to his 41 year-old rule.</p>
<p>"The brother leader delegation has accepted the roadmap as presented by us. We have to give ceasefire a chance," Zuma said, adding that the African delegation would now travel to the eastern city of Benghazi for talks with anti-Gaddafi rebels.</p>
<p>Asked if the issue of Gaddafi stepping down was discussed, Ramtane Lamamra, AU Commissioner for Peace and Security, told reporters: "There was some discussion."</p>
<p>However he added: "I cannot report on confidential discussions because first of all I was not part of them, and I think they have to remain confidential between the parties involved."</p>
<p>Officials from NATO, which stepped up attacks on Gaddafi's armour on Sunday to weaken a bitter siege of Misrata in the west and disrupt an advance by his troops in the east, were not immediately available for comment on Zuma's ceasefire appeal.</p>
<p>The British-based representative of the Libyan opposition leadership, Guma al-Gamaty, said it would look carefully at the AU plan, but would not accept any deal designed to keep Gaddafi or his sons in place, Britain's BBC reported.</p>
<p>Libyan officials have repeatedly said Gaddafi will not quit.</p>
<p>Zuma met Gaddafi for several hours at the Libyan leader's Bab al-Aziziyah compound with four other African heads of state.</p>
<p>SUNDAY FIGHTING</p>
<p>The AU's Lamamra said the proposal included the delivery of humanitarian aid, protection of foreigners, dialogue between all parties and "the establishment of an inclusive transition period with a view to adopting and implementing necessary political reforms".</p>
<p>He said the AU was ready to help with the deployment of a ceasefire monitoring mechanism and could work alongside the <a href="" type="internal">United Nations</a> and the Arab League.</p>
<p>Asked if he feared rebels might reject the plan, Lamamra said: "We believe what we have proposed is broad enough to launch negotiations ... What we need is for them to accept that we are people of good will."</p>
<p>"It's not up to any outside force, even the African Union itself, to decide on the behalf of the Libyan people on who the leader of the country should be," Lamamra told a news conference in the early hours of Monday morning after the AU talks.</p>
<p>The rebels have previously rejected a negotiated outcome to what has become the bloodiest in a series of pro-democracy revolts across the Arab world that have ousted the autocratic leaders of Tunisia and Egypt.</p>
<p>NATO INTENSIFIES ATTACKS</p>
<p>NATO, mandated by the United Nations to protect civilians in Libya from attacks by Gaddafi's forces, said it had increased the tempo of its air operations over the weekend, after rebels accused it of responding too slowly to government attacks.</p>
<p>The insurgents hailed the more muscular approach.</p>
<p>The NATO strikes outside Ajdabiyah on Sunday helped break the biggest assault by Gaddafi's forces on the eastern front for at least a week. The town is the gateway to the rebel stronghold of Benghazi 150 km (90 miles) north up the Mediterranean coast.</p>
<p>A Reuters reporter saw six burning hulks surrounded by 15 charred and dismembered bodies in two sites on Ajdabiyah's western approaches which rebels said were hit by air strikes. "NATO has to do this to help us every single day. That is the only way we are going to win this war," said 25-year-old rebel Tarek Obeidy, standing over the bodies.</p>
<p>The government attack, which began on Saturday, included a fierce artillery and rocket bombardment, while some of Gaddafi's forces, including snipers, penetrated Ajdabiyah. Rebels cowered in alleys for several hours under the bombardment.</p>
<p>The corpses of four rebels were found dumped on a roadside.</p>
<p>"Their throats were slit. They were all shot a few times in the chest as well. I just could not stop crying when I saw them," said rebel Muhammad Saad. "This is becoming tougher and tougher."</p>
<p>But by afternoon rebels looked back in control of Ajdabiyah, commanding key intersections, and fighting had died down.</p>
<p>Ajdabiyah had been the launch point for insurgents during a week-long fight for the oil port of Brega 70 km (45 miles) further west, and its fall would be a serious loss.</p>
<p>GADDAFI APPEARS</p>
<p>Gaddafi, making his first appearance to foreign media in weeks, joined the visiting African leaders at his compound.</p>
<p>He then climbed into a sports utility vehicle and was driven about 50 metres (yards) where he waved through the sunroof and made the "V" for victory sign to a crowd of cheering supporters.</p>
<p>The appearance, his second in two days, and his upbeat demeanour, confirmed the impression among analysts that his circle has emerged from a period of paralysis and is preparing for a long campaign, another sign mediation will be difficult.</p>
<p>Analysts predict a drawn-out, low-level conflict possibly leading to partition between east and west in the sprawling North African Arab state, a major oil and natural gas producer.</p>
<p>NATO's commander of Libyan operations, Canadian Lieutenant General Charles Bouchard, said after Sunday's air attacks: "The situation in Ajdabiyah, and Misrata in particular, is desperate for those Libyans who are being brutally shelled by the regime."</p>
<p>Asked for comment on the ceasefire announcement, a British official repeated a well-worn statement: "We will judge Gaddafi by his actions not his words." (Additional reporting by Michael Georgy in Ajdabiyah, Mariam Karouny in Beirut, Richard Lough in Rabat, Christian Lowe in Algiers, Stella Mapenzauswa in Johannesburg, Foo Yun Chee in Brussels and Karolina Tagaris in London; writing by Barry Moody and Philippa Fletcher; editing by Miral Fahmy)</p>
<p>Advertisement</p> | true | 0 | muammar gaddafi accepted roadmap ending conflict libya including immediate ceasefire african union said monday opposition representative said would work gaddafi left power south african president jacob zuma met gaddafi head delegation african leaders urged nato stop air strikes government targets give ceasefire chance continue reading earlier truce offers gaddafi come nothing rebels took arms across east towns west libyan leader crushed protests february said accept nothing less end 41 yearold rule brother leader delegation accepted roadmap presented us give ceasefire chance zuma said adding african delegation would travel eastern city benghazi talks antigaddafi rebels asked issue gaddafi stepping discussed ramtane lamamra au commissioner peace security told reporters discussion however added report confidential discussions first part think remain confidential parties involved officials nato stepped attacks gaddafis armour sunday weaken bitter siege misrata west disrupt advance troops east immediately available comment zumas ceasefire appeal britishbased representative libyan opposition leadership guma algamaty said would look carefully au plan would accept deal designed keep gaddafi sons place britains bbc reported libyan officials repeatedly said gaddafi quit zuma met gaddafi several hours libyan leaders bab alaziziyah compound four african heads state sunday fighting aus lamamra said proposal included delivery humanitarian aid protection foreigners dialogue parties establishment inclusive transition period view adopting implementing necessary political reforms said au ready help deployment ceasefire monitoring mechanism could work alongside united nations arab league asked feared rebels might reject plan lamamra said believe proposed broad enough launch negotiations need accept people good outside force even african union decide behalf libyan people leader country lamamra told news conference early hours monday morning au talks rebels previously rejected negotiated outcome become bloodiest series prodemocracy revolts across arab world ousted autocratic leaders tunisia egypt nato intensifies attacks nato mandated united nations protect civilians libya attacks gaddafis forces said increased tempo air operations weekend rebels accused responding slowly government attacks insurgents hailed muscular approach nato strikes outside ajdabiyah sunday helped break biggest assault gaddafis forces eastern front least week town gateway rebel stronghold benghazi 150 km 90 miles north mediterranean coast reuters reporter saw six burning hulks surrounded 15 charred dismembered bodies two sites ajdabiyahs western approaches rebels said hit air strikes nato help us every single day way going win war said 25yearold rebel tarek obeidy standing bodies government attack began saturday included fierce artillery rocket bombardment gaddafis forces including snipers penetrated ajdabiyah rebels cowered alleys several hours bombardment corpses four rebels found dumped roadside throats slit shot times chest well could stop crying saw said rebel muhammad saad becoming tougher tougher afternoon rebels looked back control ajdabiyah commanding key intersections fighting died ajdabiyah launch point insurgents weeklong fight oil port brega 70 km 45 miles west fall would serious loss gaddafi appears gaddafi making first appearance foreign media weeks joined visiting african leaders compound climbed sports utility vehicle driven 50 metres yards waved sunroof made v victory sign crowd cheering supporters appearance second two days upbeat demeanour confirmed impression among analysts circle emerged period paralysis preparing long campaign another sign mediation difficult analysts predict drawnout lowlevel conflict possibly leading partition east west sprawling north african arab state major oil natural gas producer natos commander libyan operations canadian lieutenant general charles bouchard said sundays air attacks situation ajdabiyah misrata particular desperate libyans brutally shelled regime asked comment ceasefire announcement british official repeated wellworn statement judge gaddafi actions words additional reporting michael georgy ajdabiyah mariam karouny beirut richard lough rabat christian lowe algiers stella mapenzauswa johannesburg foo yun chee brussels karolina tagaris london writing barry moody philippa fletcher editing miral fahmy advertisement | 589 |
<p>In an obscure corner of a park sits a forlorn reminder that, 10 years ago, Athens hosted the 2004 Summer Olympics. The crumbling miniature theater is inscribed with the words "glory, wealth, wisdom, victory, triumph, hero, labor" — and it is where visiting Olympic officials planted an olive sapling that would bear their names for posterity.</p>
<p>Once a symbol of pomp, the marble theater is now an emblem of pointless waste in a venture that left a mixed legacy: a brand-new subway, airport and other vital infrastructure that significantly improved everyday life in a city of 4 million, set against scores of decrepit sports venues built in a mad rush to meet deadlines — with little thought for post-Olympic use.</p>
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<p>As Greece groans under a cruel economic depression, questions linger of whether the Athens Games were too ambitious an undertaking for a weak economy. While economists agree it would be unfair to blame the meltdown on the 17-day Games, the post-Olympic era is seen as a decade of lost opportunities — including failure to significantly boost the country's sporting culture. It's a lesson to which Brazil may pay heed, as it races to complete projects ahead of the 2016 Olympics in Rio de Janeiro.</p>
<p>"We didn't take advantage of this dynamic that we got in 2004," said former Olympic weightlifting champion Pyrros Dimas, a Greek sporting hero turned Socialist member of Parliament. "We simply made the biggest mistake in our history: We switched off, locked up the stadiums, let them fall to pieces, and everything finished there."</p>
<p>"We spent a lot of money for some projects (that) are shut and rotting," said Dimas, who won his last Olympic medal in an Athens arena now reinvented as a lecture and conference venue. "There were projects that should have cost 2 and 3 million (euros) and suddenly became so big that they cost 13 and 14 million. There was no control."</p>
<p>The latest government estimate sets the final cost of the Games at 8.5 billion euros, double the original budget but a drop in the ocean of the country's subsequent 320 billion-euro debt, which spun out of control after 2008. Former organizing committee chief Gianna Angelopoulos has commissioned the first independent survey of the Olympics' overall economic effect. It will aim to weigh Olympic overspend and waste against a possible boost to the crucial tourism industry — arrivals have almost doubled since 2004, from 11.7 to 20.1 million — foreign investment and employment.</p>
<p>"The Olympics were very important in increasing the brand awareness ... of Greece," said economist Theodore Krintas, managing director of Attica Wealth Management. "But we did, very, very limited things on a follow-up basis."</p>
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<p>Andrew Zimbalist, a U.S. economist who studies the financial impact of major sporting events, said past experience shows that hosting the Olympics does not generally promote economic development: "At the end of the day, the main benefit to be had seems to be a feel-good experience that the people in the host city or the host country have," said Zimbalist, a professor of economics at Smith College. "But that's a fleeting experience, not something that endures.</p>
<p>"Why couldn't Athens have simply invested ... in development and transportation and communications and infrastructure, and not hosted the Olympics?"</p>
<p>The cost of hosting the Olympics and ensuring a city is not left with white elephants is a key issue facing the International Olympic Committee and new president Thomas Bach. Scared off by the record $51 billion price tag associated with the 2014 Winter Olympics in Sochi, several Western European cities declining to bid or dropped out of the race for the 2022 Winter Games.</p>
<p>Reducing the cost and focusing on long-term sustainability is part of Bach's "Olympic Agenda 2020," a package of reforms that will be voted on at a special meeting in Monaco in December.</p>
<p>In Greece, few of the sporting venues — mostly purpose-built permanent structures — have seen regular post-Olympic use. The badminton venue is a successful concert hall, but the empty table-tennis and gymnastics stadium is up for sale, and the beach volleyball center has been rarely used and was recently looted.</p>
<p>Most venues are padlocked.</p>
<p>The seaside site of Athens' old airport hosted half a dozen venues. Politicians have dithered for a decade over how to use the sprawling plot — meaning facilities have simply been left to rot. Lengths of large tubing lie near abandoned runways. Decommissioned jumbo jets sit near where planners once dreamed of building a water amusement park. This year, private investors won a tender to develop the entire area into a residential, commercial, hotel and leisure center, in a 7 billion-euro investment.</p>
<p>Greek Olympic Committee head Spyros Capralos, a senior member of the 2004 organizing committee, said the state of the sporting venues "puts our country to shame." The former swimming champion and two-time Olympic water polo competitor blames bureaucracy and lack of foresight.</p>
<p>"Nobody was thinking what would happen the next day," he said. "Many of the sports facilities were constructed just to be constructed ... and nobody thought that they required a lot of money for maintenance after the Olympic Games."</p>
<p>In their haste to meet implacable construction deadlines, government officials didn't even secure proper planning permits for several venues, including the elegant crown on the main Olympic Stadium — a steel canopy by Spanish architect Santiago Calatrava.</p>
<p>Greece's sports ministry says it has finally rectified the permits oversight, which until now hindered necessary repairs and maintenance, and funding has been found to conserve the roof.</p>
<p>Overall, Capralos insisted, the Games were a boost for Greece, mainly due to non-sports infrastructure pegged to the Games that otherwise might never have materialized.</p>
<p>"It saddens me that public opinion has come to believe the Athens Olympic Games were not successful," he said. "They were very much so, both from the sports aspect and through projects that gave life to Athens — tourism has increased, there is a modern airport, roads, the metro, phones work properly and when it's very hot the power system doesn't collapse."</p>
<p>Capralos believes the legacy of the stadiums can still be salvaged.</p>
<p>"Simply, someone must do whatever is needed for the venues to be taken over by the private sector — because I don't think the state can be a very good entrepreneur or venue manager."</p>
<p>___</p>
<p>Steve Wilson contributed from London.</p> | true | 0 | obscure corner park sits forlorn reminder 10 years ago athens hosted 2004 summer olympics crumbling miniature theater inscribed words glory wealth wisdom victory triumph hero labor visiting olympic officials planted olive sapling would bear names posterity symbol pomp marble theater emblem pointless waste venture left mixed legacy brandnew subway airport vital infrastructure significantly improved everyday life city 4 million set scores decrepit sports venues built mad rush meet deadlines little thought postolympic use continue reading greece groans cruel economic depression questions linger whether athens games ambitious undertaking weak economy economists agree would unfair blame meltdown 17day games postolympic era seen decade lost opportunities including failure significantly boost countrys sporting culture lesson brazil may pay heed races complete projects ahead 2016 olympics rio de janeiro didnt take advantage dynamic got 2004 said former olympic weightlifting champion pyrros dimas greek sporting hero turned socialist member parliament simply made biggest mistake history switched locked stadiums let fall pieces everything finished spent lot money projects shut rotting said dimas last olympic medal athens arena reinvented lecture conference venue projects cost 2 3 million euros suddenly became big cost 13 14 million control latest government estimate sets final cost games 85 billion euros double original budget drop ocean countrys subsequent 320 billioneuro debt spun control 2008 former organizing committee chief gianna angelopoulos commissioned first independent survey olympics overall economic effect aim weigh olympic overspend waste possible boost crucial tourism industry arrivals almost doubled since 2004 117 201 million foreign investment employment olympics important increasing brand awareness greece said economist theodore krintas managing director attica wealth management limited things followup basis advertisement andrew zimbalist us economist studies financial impact major sporting events said past experience shows hosting olympics generally promote economic development end day main benefit seems feelgood experience people host city host country said zimbalist professor economics smith college thats fleeting experience something endures couldnt athens simply invested development transportation communications infrastructure hosted olympics cost hosting olympics ensuring city left white elephants key issue facing international olympic committee new president thomas bach scared record 51 billion price tag associated 2014 winter olympics sochi several western european cities declining bid dropped race 2022 winter games reducing cost focusing longterm sustainability part bachs olympic agenda 2020 package reforms voted special meeting monaco december greece sporting venues mostly purposebuilt permanent structures seen regular postolympic use badminton venue successful concert hall empty tabletennis gymnastics stadium sale beach volleyball center rarely used recently looted venues padlocked seaside site athens old airport hosted half dozen venues politicians dithered decade use sprawling plot meaning facilities simply left rot lengths large tubing lie near abandoned runways decommissioned jumbo jets sit near planners dreamed building water amusement park year private investors tender develop entire area residential commercial hotel leisure center 7 billioneuro investment greek olympic committee head spyros capralos senior member 2004 organizing committee said state sporting venues puts country shame former swimming champion twotime olympic water polo competitor blames bureaucracy lack foresight nobody thinking would happen next day said many sports facilities constructed constructed nobody thought required lot money maintenance olympic games haste meet implacable construction deadlines government officials didnt even secure proper planning permits several venues including elegant crown main olympic stadium steel canopy spanish architect santiago calatrava greeces sports ministry says finally rectified permits oversight hindered necessary repairs maintenance funding found conserve roof overall capralos insisted games boost greece mainly due nonsports infrastructure pegged games otherwise might never materialized saddens public opinion come believe athens olympic games successful said much sports aspect projects gave life athens tourism increased modern airport roads metro phones work properly hot power system doesnt collapse capralos believes legacy stadiums still salvaged simply someone must whatever needed venues taken private sector dont think state good entrepreneur venue manager ___ steve wilson contributed london | 626 |
<p>Now that the <a href="" type="internal">summer box office failed miserably</a> in its effort to recoup the money spent on their major tent-poles, Hollywood has cheerfully leaped onto the road to financial ruin for their fall and "awards season" lineups, offering up a spate of social justice sermonizing and "timely" parables about America's dark history that just feels eerily similar to the Trump era.</p>
<p>As noted by the <a href="http://hosted.ap.org/dynamic/stories/U/US_FILM_FALL_PREVIEW?SITE=AP&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT&amp;CTIME=2017-08-28-02-16-12" type="external">Associated Press</a>, movies "take years to make" in a town like Hollywood, with rarely the best script winning the day. As studios eschew the mid-budget movie in favor of costly blockbusters, the independent producers now dominate the "serious movie" market, and their tastes and sensibilities dictate the movies made (all of whom think that Moonlight rightly deserved the Oscar for Best Picture, for example).</p>
<p>This means that instead of giving us introspective flicks about the human condition in the existential vein of Ingmar Bergman — what independent movies used to mean — we get movies about some random civil rights case we never heard of or old farts complaining about the Iraq War.</p>
<p>Not that either of those are bad in and of themselves, but when that one ideological viewpoint (always left wing) represents the entire spectrum of "serious" filmmaking, some of the righteous questions they may pose neither unsettle us nor stir us, but rather dull us into becoming mere depositories of ideological talking points.</p>
<p>The Associated Press profiled the leftist tripe Hollywood plans to give us this season, all of which the makers claim seeks to challenge the Trump era:</p>
<p>Writer-director Peter Landesman ('Concussion') found himself making a film about the FBI battling White House interference while a curiously similar conflict played out between Trump, James Comey and the FBI. His movie, 'Mark Felt: The Man Who Brought Down the White House' tells the story of Felt (played by Liam Neeson), the legendary Watergate source known as Deep Throat, who was the No. 2 official at the FBI during the scandal. It's been in the works since 2005.</p>
<p>Writer-director Peter Landesman has convinced himself that his film coming out at this time should be seen as divine providence.</p>
<p>"This movie could have been made ten years ago or five years ago. The fact that it's coming out this year has a supernatural relevance," said Landesman, who juxtaposed Mark Felt with that of fired FBI director James Comey. ''Mark Felt just wanted to be left alone to do his job, however it turned out. Jim Comey wanted to do the same thing."</p>
<p>Director Steven Spielberg will rip open the wounds of Vietnam once again with his star-studded movie The Post, about The Washington Post's 1971 publishing of the classified Pentagon Papers, revealing the many lies told by the United States government during the Vietnam War. It is doubtful that film will include a story about the millions of people murdered at the hands of communist tyrants following our withdrawal from that region at the behest of those like Spielberg and Meryl Streep, who will also overact her way to another Oscar nomination in this film.</p>
<p>Then we have Richard Linklater's Last Flag Flying, about a trio of geezers traveling across the country to prevent a soldier's burial at Arlington in protest of the Iraq War. Linklater said this ties into the Trump era because men like him will launch a war without understanding the cost — even though Trump ran on a populist, anti-globalist platform and even adopted left-wing talking points on the Iraq War during his campaign.</p>
<p>"It will mean killing civilians. It will mean dead Americans. It will mean exorbitant costs. It will mean all that. That's what war is," says Linklater. "That's what does worry one about Trump. It's always the guys who didn't fight that want to prove their manhood by launching some bombs and missiles and being a tough guy. Both Republicans and Democrats it's the same. We haven't had a soldier anywhere near leadership in so long."</p>
<p>The film Thank You for Your Service, starring Miles Teller and Haley Bennett, will profile "three soldiers returning from Iraq, adjusting to civilian life and fighting post-traumatic stress disorder."</p>
<p>To recap, we have two films about shady government machinations during the Vietnam War and two films about the Iraq War (neither reflecting the war — or its soldiers — in a positive light).</p>
<p>Entering on stage left, we have also the intersectionality movies, reminding America of its racist "original sin" that it never repented of.</p>
<p>Other films will recall civil-rights icons. 'Marshall' (Oct. 13), stars Chadwick Boseman as a young Thurgood Marshall defending a black chauffeur in 1941 against his wealthy socialite employer in a sexual assault and attempted murder trial. Rob Reiner's 'LBJ' (Nov. 3) stars Woody Harrelson as the 36th president, taking office after the assassination of John F. Kennedy and passing the Civil Rights Act.</p>
<p>Whether all of these films will resonate any differently in 2017 than they might have another year remains to be seen. George Clooney's 'Suburbicon' (Oct. 27), which he directed from a script by Joel and Ethan Coen, is about a bucolic 1950s suburb with a violent and racist underbelly. Clooney, who recently announced a grant of $1 million with his wife Amal to combat hate groups in the wake of Charlottesville, says the film is about out-of-control white-male paranoia.</p>
<p>"Trump got elected while we were shooting it," said Clooney. "A bunch of crew members came up to me and said, 'It's too bad it's not coming out today.' And I said, 'Unfortunately these issues never get old.' So, yes, it's timely, but unfortunately it's always timely."</p>
<p>The road to financial ruin is paved with stupid intentions. You made your bed Hollywood, so sleep in it.</p> | true | 0 | summer box office failed miserably effort recoup money spent major tentpoles hollywood cheerfully leaped onto road financial ruin fall awards season lineups offering spate social justice sermonizing timely parables americas dark history feels eerily similar trump era noted associated press movies take years make town like hollywood rarely best script winning day studios eschew midbudget movie favor costly blockbusters independent producers dominate serious movie market tastes sensibilities dictate movies made think moonlight rightly deserved oscar best picture example means instead giving us introspective flicks human condition existential vein ingmar bergman independent movies used mean get movies random civil rights case never heard old farts complaining iraq war either bad one ideological viewpoint always left wing represents entire spectrum serious filmmaking righteous questions may pose neither unsettle us stir us rather dull us becoming mere depositories ideological talking points associated press profiled leftist tripe hollywood plans give us season makers claim seeks challenge trump era writerdirector peter landesman concussion found making film fbi battling white house interference curiously similar conflict played trump james comey fbi movie mark felt man brought white house tells story felt played liam neeson legendary watergate source known deep throat 2 official fbi scandal works since 2005 writerdirector peter landesman convinced film coming time seen divine providence movie could made ten years ago five years ago fact coming year supernatural relevance said landesman juxtaposed mark felt fired fbi director james comey mark felt wanted left alone job however turned jim comey wanted thing director steven spielberg rip open wounds vietnam starstudded movie post washington posts 1971 publishing classified pentagon papers revealing many lies told united states government vietnam war doubtful film include story millions people murdered hands communist tyrants following withdrawal region behest like spielberg meryl streep also overact way another oscar nomination film richard linklaters last flag flying trio geezers traveling across country prevent soldiers burial arlington protest iraq war linklater said ties trump era men like launch war without understanding cost even though trump ran populist antiglobalist platform even adopted leftwing talking points iraq war campaign mean killing civilians mean dead americans mean exorbitant costs mean thats war says linklater thats worry one trump always guys didnt fight want prove manhood launching bombs missiles tough guy republicans democrats havent soldier anywhere near leadership long film thank service starring miles teller haley bennett profile three soldiers returning iraq adjusting civilian life fighting posttraumatic stress disorder recap two films shady government machinations vietnam war two films iraq war neither reflecting war soldiers positive light entering stage left also intersectionality movies reminding america racist original sin never repented films recall civilrights icons marshall oct 13 stars chadwick boseman young thurgood marshall defending black chauffeur 1941 wealthy socialite employer sexual assault attempted murder trial rob reiners lbj nov 3 stars woody harrelson 36th president taking office assassination john f kennedy passing civil rights act whether films resonate differently 2017 might another year remains seen george clooneys suburbicon oct 27 directed script joel ethan coen bucolic 1950s suburb violent racist underbelly clooney recently announced grant 1 million wife amal combat hate groups wake charlottesville says film outofcontrol whitemale paranoia trump got elected shooting said clooney bunch crew members came said bad coming today said unfortunately issues never get old yes timely unfortunately always timely road financial ruin paved stupid intentions made bed hollywood sleep | 554 |
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<p>The darkened skyline of a major metropolis may be an eerily peaceful sight, but it is never a comforting one. It almost certainly portends tragedy, as it did when lower Manhattan went dark on account of Superstorm Sandy slamming into the seaboard last year.</p>
<p>Yes, many were without "Homeland" and their Twitter feed for what must have felt like an eternity, but hospitals running out of backup generators and a city with a lack of general structure have a way of compounding into, well, total disorder.</p>
<p>That's also supposed to be the premise of J.J. Abram's show, "Revolution," on NBC. The intro tells of a post-apocalyptic America in which the power inexplicably went out in a worldwide blackout. The pilot includes the main character proclaiming that, "It's all going to turn off, and it will never ever turn back on!"</p>
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<p>Why not? If Abrams' "Lost" is any guide, we may never know. In the meantime, of course, anarchy ensues, as the world is a completely different place without power. Major outages such as the 2003 Northeast blackout might make us wonder if someday we'll all be yelling that "It's never going to come back on!" Considering we're an increasingly wired society, is a total blackout even possible?</p>
<p>The thought of losing every watt of our electricity is certainly an alarming one considering how dependent on energy we have become in nearly all facets of life. In addition to mundane yet essential uses of electricity such as streetlights and transportation, more than 9 in 10 Americans depend on it to use cellphones, and according to a recent study by Time magazine, 74 percent of Americans responded that they could not go more than a day without their mobile device. What would we do with all the missed status updates?</p>
<p>All these devices need to get their juice somewhere, and they are adding on to our country's ever-increasing thirst for power.</p>
<p>Electricity is often measured in kilowatt-hours, or kwh. It means what you might imagine. If you were to take a standard 60-watt light bulb and let it run for 1,000 hours, it would consume 60 kilowatt-hours of energy.</p>
<p>According to the U.S. Energy Information Administration, or EIA, Americans' total electricity consumption in 2011 was a whopping 3,856 billion kilowatt-hours, a 13-fold increase from the pre-iPad days of 1950, when just 8 million U.S. homes had TVs. To be fair, only about 1,427 billion of those hours in 2011 came from residential consumption with powered air conditioning, refrigerators and the cumulative 250 billion hours of TV we now watch annually.</p>
<p>If the electrical apocalypse struck tomorrow, leaving us in a complete blackout, you might miss all of your favorite shows and general order in society, but think of the savings on those nonexistent power bills.</p>
<p>The EIA says the average national price paid by Americans for their residential electricity in 2011 was 11.8 cents per kwh, up significantly from the 1990 inflation-adjusted average of 10.5 cents, but also down from the equivalent of 14 cents in 1960, illustrating just how much the cost of electricity fluctuates with demand and efficiency.</p>
<p>What's certain over time is that electricity supplied to residences is the most expensive, on account of the added cost and distribution to every home in the country, in addition to varying regulations by location.</p>
<p>Though primary factors such as weather can affect the cost of electricity production by the minute, consumers typically pay a higher general rate during the summer months. They can also pay significantly more if they are farther away from a power plant. This includes places such as Hawaii, which paid the highest average rate in 2011 at 33.2 cents per kwh.</p>
<p>So this summer when you're roasting at home because the air won't get cool enough and you're worried about the power going out for good, you can finally be grateful you don't live in a tropical paradise.</p>
<p>So are we really teetering on the precipice of a nationwide collapse of our electrical grid, trying in vain like Ralphie's old man to haphazardly plug in our hypothetical leg lamp without blowing the whole thing into a total blackout?</p>
<p>Though usage varies on region and season, the country's grid has an operating capacity of 1,051,251 megawatt-hours, of which we used only about 39 percent in 2011, according to Glenn McGrath, PE, an Energy Information Administration electric power systems and reliability team lead. So we may not be pushing our limits, but that doesn't mean we can carry on as is for the coming decades and not expect J.J. Abrams to look like a soothsayer.</p>
<p>"The grid is in great need of additional investment in stability and versatility, but especially the latter," says Tom Konrad, blogger for Forbes and editor of AltEnergyStocks.com.</p>
<p>As the nation inevitably moves toward an electrical grid with more diverse and sustainable sources, Konrad warns that it won't be as easy as flipping a switch.</p>
<p>"Renewable energy can help and hinder grid stability," he says. "The problem is that our current incentive structure rewards kilowatt-hour output above all else. The grid will become smarter and more interconnected, but probably not as quickly as we need it to."</p>
<p>In other words, don't post all of those emergency generators on Craigslist just yet.</p>
<p>For most Americans, the thought of a massive blackout makes for prime-time TV and not much else. Then a freak storm hits, leaving millions of New Jersey, New York and Connecticut residents without power for weeks.</p>
<p>"The most likely disaster is always the one we're not expecting," Konrad says. "I can't say what will happen, but I know we'll be surprised."</p>
<p>At least not to the point of complete national failure, thanks to our national electrical grid being divided into three independent sections -- eastern, western and Texas -- that can disconnect from one another at the first sign of significant trouble.</p>
<p>"In the U.S., we have built-in protections," says Saifur Rahman, professor at Virginia Polytechnic Institute and State University's Bradley Department of Electrical and Computer Engineering. "It's almost theoretically impossible to have all three grids go down, unless one goes down for technical reasons and another area has lightning strikes, which is an act of God, but can happen on paper. It's extremely unlikely."</p>
<p>Rahman added that tragedies such as Superstorm Sandy present a bit of a Catch-22 with our current system. Power lines above ground are susceptible to wind and falling branches, while underground lines can flood.</p>
<p>"It's a give and take with how much we value power for two days and how often disasters happen," Rahman says.</p>
<p>At least it will come back on.</p> | true | 0 | continue reading darkened skyline major metropolis may eerily peaceful sight never comforting one almost certainly portends tragedy lower manhattan went dark account superstorm sandy slamming seaboard last year yes many without homeland twitter feed must felt like eternity hospitals running backup generators city lack general structure way compounding well total disorder thats also supposed premise jj abrams show revolution nbc intro tells postapocalyptic america power inexplicably went worldwide blackout pilot includes main character proclaiming going turn never ever turn back advertisement abrams lost guide may never know meantime course anarchy ensues world completely different place without power major outages 2003 northeast blackout might make us wonder someday well yelling never going come back considering increasingly wired society total blackout even possible thought losing every watt electricity certainly alarming one considering dependent energy become nearly facets life addition mundane yet essential uses electricity streetlights transportation 9 10 americans depend use cellphones according recent study time magazine 74 percent americans responded could go day without mobile device would missed status updates devices need get juice somewhere adding countrys everincreasing thirst power electricity often measured kilowatthours kwh means might imagine take standard 60watt light bulb let run 1000 hours would consume 60 kilowatthours energy according us energy information administration eia americans total electricity consumption 2011 whopping 3856 billion kilowatthours 13fold increase preipad days 1950 8 million us homes tvs fair 1427 billion hours 2011 came residential consumption powered air conditioning refrigerators cumulative 250 billion hours tv watch annually electrical apocalypse struck tomorrow leaving us complete blackout might miss favorite shows general order society think savings nonexistent power bills eia says average national price paid americans residential electricity 2011 118 cents per kwh significantly 1990 inflationadjusted average 105 cents also equivalent 14 cents 1960 illustrating much cost electricity fluctuates demand efficiency whats certain time electricity supplied residences expensive account added cost distribution every home country addition varying regulations location though primary factors weather affect cost electricity production minute consumers typically pay higher general rate summer months also pay significantly farther away power plant includes places hawaii paid highest average rate 2011 332 cents per kwh summer youre roasting home air wont get cool enough youre worried power going good finally grateful dont live tropical paradise really teetering precipice nationwide collapse electrical grid trying vain like ralphies old man haphazardly plug hypothetical leg lamp without blowing whole thing total blackout though usage varies region season countrys grid operating capacity 1051251 megawatthours used 39 percent 2011 according glenn mcgrath pe energy information administration electric power systems reliability team lead may pushing limits doesnt mean carry coming decades expect jj abrams look like soothsayer grid great need additional investment stability versatility especially latter says tom konrad blogger forbes editor altenergystockscom nation inevitably moves toward electrical grid diverse sustainable sources konrad warns wont easy flipping switch renewable energy help hinder grid stability says problem current incentive structure rewards kilowatthour output else grid become smarter interconnected probably quickly need words dont post emergency generators craigslist yet americans thought massive blackout makes primetime tv much else freak storm hits leaving millions new jersey new york connecticut residents without power weeks likely disaster always one expecting konrad says cant say happen know well surprised least point complete national failure thanks national electrical grid divided three independent sections eastern western texas disconnect one another first sign significant trouble us builtin protections says saifur rahman professor virginia polytechnic institute state universitys bradley department electrical computer engineering almost theoretically impossible three grids go unless one goes technical reasons another area lightning strikes act god happen paper extremely unlikely rahman added tragedies superstorm sandy present bit catch22 current system power lines ground susceptible wind falling branches underground lines flood give take much value power two days often disasters happen rahman says least come back | 629 |
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<p>I am fascinated by the idea of creating new words out of thin air. It is an interesting concept that slang such as “selfie” and “ginormous” can officially become part of the English language.</p>
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<p>Given that, I have come up with some new words (and phrases) to try and capture some of what is going on in the world of cybersecurity. With that, in no particular order, I give you my official list of cyber neologisms:</p>
<p>Finch’s Law</p>
<p>This is my take on Moore’s Law, which points out the pace at which technology advances. After speaking with true cyber experts and doing some thinking about the problem, I came up with the following rule of thumb: Cyber defenses cannot keep pace with the increasing sophistication or creativity of cyberattacks.</p>
<p>That is a nice, pithy way of saying that we are always going to be a few steps behind the cunning of cyberattackers. Let’s face it, they make lots of money off cyberattacks and can rest assured that the likelihood of being caught is extremely small.</p>
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<p>So, cyber-criminals will continually develop new ways to penetrate systems, and the defenders will always be a step or two behind simply due to the inability to anticipate every type of attack.</p>
<p>In-law problem</p>
<p>First off, no, this is not a commentary on my personal life. It is a handy way to illustrate a complex problem, namely that when you acquire/partner with/or tie into another business, you get the bad with the good.</p>
<p>Think of it like the Vacation movies. Clark Griswold hit the wife jackpot with the lovely Ellen. A big problem Clark had, though, was that he now had to deal with the likes of Cousin Eddie, and lots of (hilarious) problems ensued.</p>
<p>Cybersecurity is not that different.</p>
<p>When you buy or team with another company, fantastic synergies can happen. The challenge is that you also inherit their problems – chief among them are information systems riddled with malware and weaknesses. Thus, businesses would do well to conduct thorough due diligence on the cybersecurity posture of potential partners.</p>
<p>Cyber beauty pageant</p>
<p>This is an interesting and disturbingly common phenomenon, one where companies measure their cybersecurity readiness not through a comprehensive risk-based analysis and audit, but rather by how shiny their toys are.</p>
<p>This is a dangerous proposition because it creates a sense of security under the theory that if we purchase the latest and greatest technology, we will be as safe as possible. While there is value in buying new toys, they will do you no good if they are not tied to a strategy that constantly evaluates the threat environment and adjusts defenses and response resources accordingly.</p>
<p>The digital ostrich</p>
<p>The 21st Century equivalent of “If I don’t know about it, it isn’t a problem.” The theory goes that if you don’t know about the breach or ongoing attack, you do not have to disclose it, much less worry about its consequences.</p>
<p>As I have noted <a href="" type="internal">before</a>, the interesting thing about sticking your head in the sand is that the rest of your body is still exposed and can be easily hit. Nowhere is this more accurate than in cybersecurity. Attacks happen all the time, and the failure to even try to discover them will only have disastrous outcome.</p>
<p>Cyberattackers can linger for years, siphoning data in real-time. That kind of loss cannot be ignored, in part because, in all likelihood, the company has a legal obligation to be aware of cyber threats and take reasonable action to mitigate them.</p>
<p>Snowdentification</p>
<p>Ah, Mr. Snowden. His betrayal of secrets has had an impact on American foreign policy and national security that hasn’t been seen since the Rosenbergs gave away the atomic bomb to the Soviets.</p>
<p>Anyway, “Snowdentification” is the jumbled process that causes concern over privacy to bleed into cybersecurity issues. This is a serious problem because in reality, privacy in the cyber defense context is of little to no concern.</p>
<p>The information being gathered and used to help cyber defenses has almost no personal information involved; rather it involves technically examining traffic to see if aberrant behavior (meaning malware) is present.</p>
<p>Yet, because the privacy debate has become so hot, thanks to Snowden, such reality is ignored when it comes to cyber defenses. Instead, people automatically assume government run cyber defenses create privacy problems.</p>
<p>Until Snowdentification is cleared up, we are all worse off.</p>
<p>Breach Bums</p>
<p>Breach bums are a curious lot. They are obsessively paranoid about the possibility of a successful cyberattack, and if one occurs their automatic response is that somehow the victim is to blame.</p>
<p>I find that position bizarre.</p>
<p>There are not many other situations where a person or company is the victim of a crime committed by sophisticated gangs or even foreign countries and people think “Boy, that company must have been negligent to allow that to have happened.”</p>
<p>This is yet another reality warp field, one that completely ignores the fact that so many attacks are done using technology and methods that circumvent just about any defense available. I am at a loss as to why so many “Breach Bums” obsess over the possibility of cyberattacks, and yet are prone to blaming the victim.</p>
<p>I think that perspective is fundamentally unfair and is generally the result of a lack of understanding of how bad the cyber problem has become. If people knew how hard defending against cyber threats has become, they would not automatically assume the victim failed in some way.</p>
<p>Obsessive Compulsive Information Sharing Disorder</p>
<p>This is one of my <a href="" type="internal">favorite topics</a>.</p>
<p>The notion that if government and industry sat down and just talked out their problems – namely sharing information about what cyberattacks look like – we can make huge progress in stopping future attacks. Again, I think information sharing has significant value and should be encouraged, but it is foolish to think it is THE answer – far from it.</p>
<p>Too many new cyber tactics are in use and, more importantly, used one time. It is because of that that information sharing is of increasingly limited value. Plus, obsessing over information sharing distracts from the need for a true strategic shift to the offense.</p>
<p>Government needs to step up and get cyber criminals and nation states on the run. Right now cyber criminals can pick the time, place, and method of attack. If all we are doing is trying to figure out when the attack is going to happen, we will lose.</p>
<p>The attackers have to be disrupted in order to actually slow down attacks and that won’t happen by obsessively worrying about zeroes and ones being shared between government and the private sector.</p>
<p>One last good one I have heard, and must attribute to National Security Agency Director Admiral Mike Rogers, is “cyber blur”.</p>
<p>According to Admiral Rogers, cyber blur is the notion that network defense is a responsibility that is an ad hoc, ill-formed responsibility for the public sector and private sector. Admiral Rogers refers to it as the “ultimate team sport” because no single sector has the total answer. It also refers to enemies combining resources, blurring tasks and creating partnerships that make attribution more difficult.</p>
<p>Whether you like the summaries or not, I am confident the above list reflects important ongoing issues and trends in cybersecurity. Feel free to use them as you see fit.</p> | true | 0 | fascinated idea creating new words thin air interesting concept slang selfie ginormous officially become part english language continue reading given come new words phrases try capture going world cybersecurity particular order give official list cyber neologisms finchs law take moores law points pace technology advances speaking true cyber experts thinking problem came following rule thumb cyber defenses keep pace increasing sophistication creativity cyberattacks nice pithy way saying always going steps behind cunning cyberattackers lets face make lots money cyberattacks rest assured likelihood caught extremely small advertisement cybercriminals continually develop new ways penetrate systems defenders always step two behind simply due inability anticipate every type attack inlaw problem first commentary personal life handy way illustrate complex problem namely acquirepartner withor tie another business get bad good think like vacation movies clark griswold hit wife jackpot lovely ellen big problem clark though deal likes cousin eddie lots hilarious problems ensued cybersecurity different buy team another company fantastic synergies happen challenge also inherit problems chief among information systems riddled malware weaknesses thus businesses would well conduct thorough due diligence cybersecurity posture potential partners cyber beauty pageant interesting disturbingly common phenomenon one companies measure cybersecurity readiness comprehensive riskbased analysis audit rather shiny toys dangerous proposition creates sense security theory purchase latest greatest technology safe possible value buying new toys good tied strategy constantly evaluates threat environment adjusts defenses response resources accordingly digital ostrich 21st century equivalent dont know isnt problem theory goes dont know breach ongoing attack disclose much less worry consequences noted interesting thing sticking head sand rest body still exposed easily hit nowhere accurate cybersecurity attacks happen time failure even try discover disastrous outcome cyberattackers linger years siphoning data realtime kind loss ignored part likelihood company legal obligation aware cyber threats take reasonable action mitigate snowdentification ah mr snowden betrayal secrets impact american foreign policy national security hasnt seen since rosenbergs gave away atomic bomb soviets anyway snowdentification jumbled process causes concern privacy bleed cybersecurity issues serious problem reality privacy cyber defense context little concern information gathered used help cyber defenses almost personal information involved rather involves technically examining traffic see aberrant behavior meaning malware present yet privacy debate become hot thanks snowden reality ignored comes cyber defenses instead people automatically assume government run cyber defenses create privacy problems snowdentification cleared worse breach bums breach bums curious lot obsessively paranoid possibility successful cyberattack one occurs automatic response somehow victim blame find position bizarre many situations person company victim crime committed sophisticated gangs even foreign countries people think boy company must negligent allow happened yet another reality warp field one completely ignores fact many attacks done using technology methods circumvent defense available loss many breach bums obsess possibility cyberattacks yet prone blaming victim think perspective fundamentally unfair generally result lack understanding bad cyber problem become people knew hard defending cyber threats become would automatically assume victim failed way obsessive compulsive information sharing disorder one favorite topics notion government industry sat talked problems namely sharing information cyberattacks look like make huge progress stopping future attacks think information sharing significant value encouraged foolish think answer far many new cyber tactics use importantly used one time information sharing increasingly limited value plus obsessing information sharing distracts need true strategic shift offense government needs step get cyber criminals nation states run right cyber criminals pick time place method attack trying figure attack going happen lose attackers disrupted order actually slow attacks wont happen obsessively worrying zeroes ones shared government private sector one last good one heard must attribute national security agency director admiral mike rogers cyber blur according admiral rogers cyber blur notion network defense responsibility ad hoc illformed responsibility public sector private sector admiral rogers refers ultimate team sport single sector total answer also refers enemies combining resources blurring tasks creating partnerships make attribution difficult whether like summaries confident list reflects important ongoing issues trends cybersecurity feel free use see fit | 645 |
<p>Hurricane Harvey will distort measures of the U.S. economy in the weeks and months ahead, making it more difficult for economists and policy makers to gauge its trajectory at a sensitive time for the Federal Reserve.</p>
<p>Everything from jobless claims, which already surged in a report on Thursday, to gross domestic product and inflation will be knocked off course, with brief spikes across a wide range of reports, economists say. And that is before any impact from Hurricane Irma, which could devastate cities across the Southeast.</p>
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<p>It will be hard to discern whether bad reports result from storm damage and then whether good reports owe to the effects of rebuilding. The Fed, already struggling with conflicting signals as it decides the path of rate rises, must look through even greater volatility in inflation and other reports. It could be well into 2018 before the effects of the storms have fully washed out of economic data.</p>
<p>Forecasters in The Wall Street Journal's survey of economists expect the storm to reduce the pace of job gains by about 27,000 jobs a month in the third quarter on average, followed by little change in the fourth quarter and then a boost of 13,000 in the first quarter 2018, as many people find work rebuilding. Fed policy makers watch job growth closely for signs of whether the labor market is tightening.</p>
<p>Economists also expect the growth rate of gross domestic product, the broadest measure of goods and services produced across the economy, will fall by about 0.3 percentage points in the third quarter, followed by no effect on the fourth quarter, and a 0.2-percentage-point boost in the first quarter of 2018.</p>
<p>"The devastation in the surrounding Houston area, America's fourth-largest city, will be significant enough to negatively impact activity and employment nationally," said Chad Moutray, chief economist for the National Association of Manufacturers.</p>
<p>In the longer run, the storm isn't expected to have a lasting economic effect, with forecasts for GDP, unemployment, inflation and other major economic indicators unchanged for 2018 overall, according to the survey of 56 business, financial and academic economists from Sept. 1 to Sept. 5. In the months ahead, here is where economists say to watch for the storm's distortions.</p>
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<p>Jobless Claims</p>
<p>Early evidence of the hurricane's impact on the U.S. job market came Thursday, when the Labor Department reported the largest one-week jump in initial jobless claims since the aftermath of superstorm Sandy in November 2012. It is likely only the beginning of a spike in unemployment filings.</p>
<p>In the weeks after Hurricane Katrina in 2005 and Sandy in 2012, jobless claims were highest not during the week of the storm, but two weeks after. Many who were out of work from the hurricane waited until the storm had passed to file their claims.</p>
<p>Compared with the week of the storm, initial jobless claims rose 23% in the second week after superstorm Sandy and 30% in the second week after Hurricane Katrina.</p>
<p>"Irma's right behind Harvey, so that could cause claims to spike again," said Ryan Sweet, director of real-time economics at Moody's Analytics.</p>
<p>Inflation</p>
<p>Measures of inflation will soon reflect Harvey, with gasoline prices spiking due to disruptions to oil refineries in the Houston area. The national average gas price was $2.66 a gallon on Wednesday, according to the AAA, up from $2.35 a month ago.</p>
<p>Denton Cinquegrana, chief oil analyst of Oil Price Information Service, sees gas prices peaking near $2.75 before leveling off.</p>
<p>Energy prices make up 7% of the consumer-price index, with motor fuel accounting for nearly half of that. Already, the move in gas prices could raise the inflation rate, a key area of focus for Fed policy makers, by about 0.5%. With past major storms, the effect has faded within a few months. That added volatility could further sharpen the Fed's focus on core measures of inflation that exclude food and energy.</p>
<p>Consumer spending</p>
<p>With gas prices up, consumers across the country will have less cash for everything else. Every penny increase in gasoline prices reduces consumer spending by $1 billion over the course of the year, according to Mr. Sweet of Moody's.</p>
<p>"Consumers are going to feel it in their pocket," Mr. Sweet said.</p>
<p>Consumer-spending measures may also show the impact of Houston being shuttered for so long. The city has nearly three million workers and produces about $500 billion a year of gross domestic product.</p>
<p>That is "a non-negligible economic impact, assuming 25% of Houston area output was idled for seven days," said Gregory Daco, chief U.S. economist of Oxford Economics.</p>
<p>Housing</p>
<p>Before the storm, Texas was on track for a 14% increase in housing starts this year, according to James Gaines, chief economist at the Real Estate Center at Texas A&amp;M University.</p>
<p>In 2016, Houston alone accounted for about 4% of the nation's permitted housing. Now builders wait to assess the market as construction sites dry out -- and will compete for workers to rebuild and repair the city.</p>
<p>Household Wealth</p>
<p>Destruction of homes and businesses doesn't show up in GDP figures, but it would show up in measures of household wealth. Many homeowners and businesses swamped by the storm didn't carry flood insurance, meaning that a large share of the over $100 billion in estimated damage could reduce household wealth.</p>
<p>"With so many homeowners uninsured, this is more akin to a wipeout of assets such as one would expect from a stock-market crash," said Constance Hunter, chief economist for KPMG, the accounting firm. "The effects are more negative and widespread."</p>
<p>But in a $19 trillion economy with 150 million workers, many of the effects will be hard to tell apart from the usual churning of such a large nation. Economic indicators can only measure so much of a storm's effect.</p>
<p>Ultimately, "the impact on individual lives will dwarf the economic dollar losses," said Lynn Reaser, a former Bank of America economist who is now a professor at Point Loma Nazarene University in San Diego.</p>
<p>--Laura Kusisto contributed to this article.</p>
<p>Write to Josh Zumbrun at [email protected] and Sarah Chaney at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>September 07, 2017 16:19 ET (20:19 GMT)</p> | true | 0 | hurricane harvey distort measures us economy weeks months ahead making difficult economists policy makers gauge trajectory sensitive time federal reserve everything jobless claims already surged report thursday gross domestic product inflation knocked course brief spikes across wide range reports economists say impact hurricane irma could devastate cities across southeast continue reading hard discern whether bad reports result storm damage whether good reports owe effects rebuilding fed already struggling conflicting signals decides path rate rises must look even greater volatility inflation reports could well 2018 effects storms fully washed economic data forecasters wall street journals survey economists expect storm reduce pace job gains 27000 jobs month third quarter average followed little change fourth quarter boost 13000 first quarter 2018 many people find work rebuilding fed policy makers watch job growth closely signs whether labor market tightening economists also expect growth rate gross domestic product broadest measure goods services produced across economy fall 03 percentage points third quarter followed effect fourth quarter 02percentagepoint boost first quarter 2018 devastation surrounding houston area americas fourthlargest city significant enough negatively impact activity employment nationally said chad moutray chief economist national association manufacturers longer run storm isnt expected lasting economic effect forecasts gdp unemployment inflation major economic indicators unchanged 2018 overall according survey 56 business financial academic economists sept 1 sept 5 months ahead economists say watch storms distortions advertisement jobless claims early evidence hurricanes impact us job market came thursday labor department reported largest oneweek jump initial jobless claims since aftermath superstorm sandy november 2012 likely beginning spike unemployment filings weeks hurricane katrina 2005 sandy 2012 jobless claims highest week storm two weeks many work hurricane waited storm passed file claims compared week storm initial jobless claims rose 23 second week superstorm sandy 30 second week hurricane katrina irmas right behind harvey could cause claims spike said ryan sweet director realtime economics moodys analytics inflation measures inflation soon reflect harvey gasoline prices spiking due disruptions oil refineries houston area national average gas price 266 gallon wednesday according aaa 235 month ago denton cinquegrana chief oil analyst oil price information service sees gas prices peaking near 275 leveling energy prices make 7 consumerprice index motor fuel accounting nearly half already move gas prices could raise inflation rate key area focus fed policy makers 05 past major storms effect faded within months added volatility could sharpen feds focus core measures inflation exclude food energy consumer spending gas prices consumers across country less cash everything else every penny increase gasoline prices reduces consumer spending 1 billion course year according mr sweet moodys consumers going feel pocket mr sweet said consumerspending measures may also show impact houston shuttered long city nearly three million workers produces 500 billion year gross domestic product nonnegligible economic impact assuming 25 houston area output idled seven days said gregory daco chief us economist oxford economics housing storm texas track 14 increase housing starts year according james gaines chief economist real estate center texas aampm university 2016 houston alone accounted 4 nations permitted housing builders wait assess market construction sites dry compete workers rebuild repair city household wealth destruction homes businesses doesnt show gdp figures would show measures household wealth many homeowners businesses swamped storm didnt carry flood insurance meaning large share 100 billion estimated damage could reduce household wealth many homeowners uninsured akin wipeout assets one would expect stockmarket crash said constance hunter chief economist kpmg accounting firm effects negative widespread 19 trillion economy 150 million workers many effects hard tell apart usual churning large nation economic indicators measure much storms effect ultimately impact individual lives dwarf economic dollar losses said lynn reaser former bank america economist professor point loma nazarene university san diego laura kusisto contributed article write josh zumbrun joshzumbrunwsjcom sarah chaney sarahchaneywsjcom end dow jones newswires september 07 2017 1619 et 2019 gmt | 632 |
<p>(Washington Examiner) –&#160;For Kentucky&#160;Sen. Mitch McConnell, enough was enough.</p>
<p>The Senate’s top Republican had watched a&#160;Tea Party-drivengovernment shutdown sink the GOP’s already-weak brand and jeopardize McConnell’s own chances of ever becoming majority leader. The solution, he concluded, was that the party’s so-called Establishment had to start fighting back against its most conservative wing.</p>
<p><a href="" type="internal">FAX BLAST SPECIAL: Congress has forgotten who holds the power. Send a Powerful Message and a Tea Party Flag To Washington! It is now time to tell our elected officials ‘the Tea Party is Coming’!</a></p>
<p>McConnell, an ardent Obamacare opponent, and other Republican pragmatists in Congress, supported the conservatives’ mission to defund Obamacare during budget negotiations, which led to the&#160;16-day shutdown. But the pragmatists also accepted that their odds of success were virtually nil. Democrats ruled the Senate and White House, those lawmakers argued, and Obama was never going to allow his signature legislative achievement to be scrapped just because the political opposition demanded it.</p>
<p>Yet, Republicans who wanted to avoid a shutdown watched it happen anyway. Tea Party-aligned Republicans, backed by outside groups that threatened any GOP lawmakers who didn’t go along, had prevailed despite the widespread concern that such a shutdown would be politically disastrous for the party.</p>
<p>Dismayed Establishment Republicans, frustrated again by an increasingly influential community ofconservative&#160;insurgents, reasserted themselves in the wake of the shutdown and demonstrated a new resolve to fight back — something they were once reluctant to do.</p>
<p>“There were people who were basically afraid of [conservatives], frankly,” McConnell told theWashington Examiner. “It’s time for people to stand up to this sort of thing.”</p>
<p>McConnell worries that the&#160;Senate Conservatives Fund&#160;and other insurgent groups are pursuing a confrontational, uncompromising strategy that makes it impossible for conservatives to govern.</p>
<p>“The Senate Conservatives Fund is giving conservatism a bad name. They’re participating in ruining the [Republican] brand,” McConnell said. “What they do is mislead their donors into believing the reason that we can’t get as good an outcome as we’d like to get is not because of a Democratic Senate and a Democratic president, but because Republicans are insufficiently committed to the cause — which is utter nonsense.”</p>
<p>The outside groups, in McConnell’s view, are unaccountable and financially motivated and pose a threat to the&#160;Republican Party’s&#160;viability. The groups in 2010 and 2012 backed a handful of untested, ideological candidates in Republican primaries that couldn’t win general elections, costing the party opportunities to build a majority. It’s a threat that must be addressed ahead of the 2014 and 2016 elections, McConnell said, because it’s repelling the very voters the GOP needs if it’s ever to take control of the federal government.</p>
<p>“To have the kind of year we ought to have in&#160;2014, we have to have electable candidates on November ballots in every state — people that don’t scare the general electorate and can actually win, because winners make policy and losers go home,” McConnell said. “We can’t just turn the other cheek and hope for the best. It didn’t work in 2010 and 2012 so we’re going to try something different in 2014.”</p>
<p>McConnell faces his own threat from the Senate Conservatives Fund, which is backing a Republican primary challenger against him in 2014. McConnell already faced a serious challenge from a Democrat,&#160;Kentucky Secretary of State Alison Lundergan Grimes, in his bid for a sixth term. SCF’s involvement now means he’ll have to spend time and money he otherwise would not have spent just to win the GOP nomination.</p>
<p>Immediately after the government reopened in mid-October, McConnell launched a very public offensive against SCF, the main instigator of the defund-or-shutdown strategy which actually ran ads attacking Republicans who opposed the tactic.</p>
<p>McConnell went so far as to ban any political vendors from getting any additional business from Republicans’ Senate campaign arm if the vendors did any work for SFC, a group founded by a former Republican senator,&#160;Jim DeMint.</p>
<p>But McConnell is on a broader mission with implications that reach far beyond his dispute with SCF. The Republican leader intends to reassert the power of the GOP’s pragmatic wing — the so-called Establishment — in the party’s nominating process and legislative agenda ahead of the 2014 congressional elections and the 2016 presidential race.</p>
<p>McConnell’s decision to single out SCF for rebuke was not impulsive. The minority leader spent months trying to determine how to combat advocacy groups with growing political muscle. The groups, he said, threaten to jeopardize the GOP’s relationship with voters through well-financed negative advertising. They also discourage the kind of pragmatic conservative governance that recognizes the reality that Democrats control the Senate and&#160;White House.</p>
<p>This past summer, McConnell drafted a letter to SCF practically daring the group to endorse Louisville businessman Matt Bevin, a fellow Republican who is challenging McConnell in next year’s primary. McConnell decided against sending the letter but wanted to relay the message that Republicans would not be intimidated. SCF endorsed Bevin in October, after McConnell negotiated an end to the government shutdown, citing the Senate leader’s role in reopening the government as evidence that he wasn’t committed to conservative principles.</p>
<p>Soon after he helped reopen the government and avoid a default on the national debt, McConnell headed home to Kentucky, where he spent a week talking with prominent GOP insiders about his plans to fight back against the conservative insurgency. McConnell’s allies said he received broad encouragement to engage.</p>
<p>Matt Hoskins, SCF’s executive director and sole decision maker, said McConnell will pay a political price for opposing an organization that gets much of its support from grassroots members of the party. Hoskins dismissed McConnell’s claim that SCF and groups like it are a threat to Republican election victories. He charged that McConnell is worried only about his own re-election.</p>
<p>Hoskins is unapologetic about SCF’s aggressive tactics against other Republicans. The group embraces quality conservative candidates, he said, including four Senate contenders in 2014.</p>
<p>“Grassroots conservatives are very worried about the direction of the country and they believe urgent action is needed to save it,” Hoskins said. “This is why they’re not happy with politicians who vote with them most of the time. They want people who will actually stand up and fight for them.”</p>
<p>McConnell isn’t alone in his battle against the conservative insurgents. Groups like the&#160;U.S. Chamber of Commerce, unnerved by the government shutdown and near-default, plans to be more active in 2014 backing business-friendly candidates against conservatives in GOP primaries.</p>
<p>The group in October spent heavily to help Bradley Byrne, a former state senator, beat a more conservative contender in a special GOP primary election in Alabama.</p>
<p>Republican pragmatists have talked for years about fighting back against the conservatives who pulled the entire party further to the political Right. Nothing ever came of that talk, many of those Republicans say, until now. The politically disastrous government shutdown and the uncompromising posture of conservatives has pushed the GOP Establishment to a tipping point.</p>
<p>“I’ve heard this story for years and nothing’s happened,” a Washington-based Republican strategist said of the pragmatists’ stand. “But I’ve seen more happen in the last two months than I’ve seen in the last four years.”</p>
<p>http://washingtonexaminer.com/the-establishment-fights-back-mcconnell-leads-gops-battle-against-tea-party-insurgents/article/2539778</p> | true | 0 | washington examiner 160for kentucky160sen mitch mcconnell enough enough senates top republican watched a160tea partydrivengovernment shutdown sink gops alreadyweak brand jeopardize mcconnells chances ever becoming majority leader solution concluded partys socalled establishment start fighting back conservative wing fax blast special congress forgotten holds power send powerful message tea party flag washington time tell elected officials tea party coming mcconnell ardent obamacare opponent republican pragmatists congress supported conservatives mission defund obamacare budget negotiations led the16016day shutdown pragmatists also accepted odds success virtually nil democrats ruled senate white house lawmakers argued obama never going allow signature legislative achievement scrapped political opposition demanded yet republicans wanted avoid shutdown watched happen anyway tea partyaligned republicans backed outside groups threatened gop lawmakers didnt go along prevailed despite widespread concern shutdown would politically disastrous party dismayed establishment republicans frustrated increasingly influential community ofconservative160insurgents reasserted wake shutdown demonstrated new resolve fight back something reluctant people basically afraid conservatives frankly mcconnell told thewashington examiner time people stand sort thing mcconnell worries the160senate conservatives fund160and insurgent groups pursuing confrontational uncompromising strategy makes impossible conservatives govern senate conservatives fund giving conservatism bad name theyre participating ruining republican brand mcconnell said mislead donors believing reason cant get good outcome wed like get democratic senate democratic president republicans insufficiently committed cause utter nonsense outside groups mcconnells view unaccountable financially motivated pose threat the160republican partys160viability groups 2010 2012 backed handful untested ideological candidates republican primaries couldnt win general elections costing party opportunities build majority threat must addressed ahead 2014 2016 elections mcconnell said repelling voters gop needs ever take control federal government kind year ought in1602014 electable candidates november ballots every state people dont scare general electorate actually win winners make policy losers go home mcconnell said cant turn cheek hope best didnt work 2010 2012 going try something different 2014 mcconnell faces threat senate conservatives fund backing republican primary challenger 2014 mcconnell already faced serious challenge democrat160kentucky secretary state alison lundergan grimes bid sixth term scfs involvement means hell spend time money otherwise would spent win gop nomination immediately government reopened midoctober mcconnell launched public offensive scf main instigator defundorshutdown strategy actually ran ads attacking republicans opposed tactic mcconnell went far ban political vendors getting additional business republicans senate campaign arm vendors work sfc group founded former republican senator160jim demint mcconnell broader mission implications reach far beyond dispute scf republican leader intends reassert power gops pragmatic wing socalled establishment partys nominating process legislative agenda ahead 2014 congressional elections 2016 presidential race mcconnells decision single scf rebuke impulsive minority leader spent months trying determine combat advocacy groups growing political muscle groups said threaten jeopardize gops relationship voters wellfinanced negative advertising also discourage kind pragmatic conservative governance recognizes reality democrats control senate and160white house past summer mcconnell drafted letter scf practically daring group endorse louisville businessman matt bevin fellow republican challenging mcconnell next years primary mcconnell decided sending letter wanted relay message republicans would intimidated scf endorsed bevin october mcconnell negotiated end government shutdown citing senate leaders role reopening government evidence wasnt committed conservative principles soon helped reopen government avoid default national debt mcconnell headed home kentucky spent week talking prominent gop insiders plans fight back conservative insurgency mcconnells allies said received broad encouragement engage matt hoskins scfs executive director sole decision maker said mcconnell pay political price opposing organization gets much support grassroots members party hoskins dismissed mcconnells claim scf groups like threat republican election victories charged mcconnell worried reelection hoskins unapologetic scfs aggressive tactics republicans group embraces quality conservative candidates said including four senate contenders 2014 grassroots conservatives worried direction country believe urgent action needed save hoskins said theyre happy politicians vote time want people actually stand fight mcconnell isnt alone battle conservative insurgents groups like the160us chamber commerce unnerved government shutdown neardefault plans active 2014 backing businessfriendly candidates conservatives gop primaries group october spent heavily help bradley byrne former state senator beat conservative contender special gop primary election alabama republican pragmatists talked years fighting back conservatives pulled entire party political right nothing ever came talk many republicans say politically disastrous government shutdown uncompromising posture conservatives pushed gop establishment tipping point ive heard story years nothings happened washingtonbased republican strategist said pragmatists stand ive seen happen last two months ive seen last four years httpwashingtonexaminercomtheestablishmentfightsbackmcconnellleadsgopsbattleagainstteapartyinsurgentsarticle2539778 | 702 |
<p />
<p>Deutsche Bank promoted a group of its senior investment bankers on Tuesday, part of an internal reshuffle as it tries to boost its flagging performance in corporate mergers and acquisitions and capital markets.</p>
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<p>The German bank, threatened with a multi-billion-dollar fine from U.S. regulators, saw its global investment banking fees fall nearly 30 percent to $2 billion in the first nine months of the year, slipping behind its nearest European rival Barclays to seventh position in the investment banking league tables, according to Thomson Reuters data.</p>
<p>But Alasdair Warren, the bank's head of corporate and investment banking for Europe, Middle East and Africa (EMEA) told Reuters he's confident the German lender can recover some lost ground over the next 12 months, particularly in equity capital markets (ECM), and he is making a series of changes to the investment bank's structure.</p>
<p>"We're confident that we can rise back up in the ECM league tables," said Warren, a former co-head of the global private equity advisory business at Goldman Sachs, who joined Deutsche in May this year.</p>
<p>Deutsche Bank has seen fees from global equity products take the biggest hit in the first nine months of year with a 45 percent decline to $328 million. In the same period its global M&amp;A fees went down 31 percent while fees attached to global loans and bonds slipped 36 percent and 14 percent respectively.</p>
<p>The bank's share price has almost halved this year, prompting speculation that it could lose some of its top investment bankers.</p>
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<p>Last week its global co-head of real estate, gaming and lodging Massimo Saletti left to join JPMorgan while on Tuesday sources with direct knowledge of the matter said its Asia Pacific wealth management head Ravi Raju is moving to UBS.</p>
<p>But Warren has promised to reward those in his division who stay at the bank with "career opportunities" despite having a limited budget for expensive rainmakers.</p>
<p>He is trying to shift the investment banking business to focus more on providing clients with long-term advisory services in dealmaking.</p>
<p>"Previously, there was a greater focus on markets and financing-related products, whereas we're now focusing on building long-term strategic dialogue and relationships, and refocusing our client coverage," he said.</p>
<p>He announced a series of changes to staff on Tuesday including promoting Bob Douglas to head its EMEA consumer and retail corporate finance team, where he has been working for the last decade. Douglas will continue to report to Scott Bell, global co-head of consumer, who has been given an additional role as the head of UK and Ireland corporate finance.</p>
<p>In Britain Charles Wilkinson, co-head of UK corporate broking, becomes chairman of the division, while Matt Hall succeeds Wilkinson as co-head of UK corporate broking alongside Andrew Tusa.</p>
<p>These appointments are aimed at revamping Deutsche's UK business with some bankers, including Bell and Tusa, also joining a new leadership group for UK corporate and investment banking.</p>
<p>"PEOPLE AGENDA"</p>
<p>Meanwhile Warren has tried to address gaps in Deutsche's dealmaking capacity across Europe. For example the bank had no one based in its home country to look after the industrials sector, the biggest source of deals in Germany.</p>
<p>"We have great product capability and geographical coverage but we need to add resources to some of our sector coverage teams," he said.</p>
<p>"Most of what we are doing will be driven by our existing people, but we will make a few external hires to add to our coverage in certain sectors," he added.</p>
<p>So far this year the bank has failed to rank among the top three advisors for the biggest announced deals in each industry, according to Thomson Reuters data, and was unable to advise Bayer on its $66 billion takeover of Monsanto , the biggest deal ever clinched by a German buyer, having pledged loyalty to a rival suitor.</p>
<p>Warren said he has a "people agenda" and while pay remains important he will also use "career opportunities" to motivate staff.</p>
<p>"In order to attract and retain talent, you can't simply focus on compensation," he said.</p>
<p>"We have a 'people agenda' and it's all about offering people the opportunity to grow and develop as professionals. We evaluate their performance twice a year and monitor their progress."</p>
<p>EFFICIENCIES</p>
<p>Among other changes aimed at streamlining the business, Warren has decided to merge the bank's maritime industries business into the global industrials group within corporate finance, appointing Craig Fuehrer as global head of maritime industries in addition to his role as head of transportation industries across the Americas.</p>
<p>At the same time Michael Zolotas becomes head of maritime industries across EMEA, while Peter Illingworth continues in his role as head of maritime industries in Asia Pacific. Klaus Stoltenberg becomes chairman of the global shipping business, having hitherto been global head of the same unit.</p>
<p>Deutsche Bank is also seeking to develop more cooperation among its funds teams, replicating a similar structure to that implemented by Goldman Sachs and JPMorgan where private equity teams work alongside those focusing on sovereign wealth funds, pension funds and family offices.</p>
<p>As a result Evans Haji-Touma and Ashok Pandit have been appointed as global co-heads of sovereign wealth funds, pension funds and family offices, to be based in London and Hong Kong respectively.</p>
<p>They will report to Mike Walsh and Adam Bagshaw globally, who act as co-heads of private equity across the world, and to Alasdair Warren and James McMurdo regionally.</p>
<p>(Editing by Greg Mahlich)</p> | true | 0 | deutsche bank promoted group senior investment bankers tuesday part internal reshuffle tries boost flagging performance corporate mergers acquisitions capital markets continue reading german bank threatened multibilliondollar fine us regulators saw global investment banking fees fall nearly 30 percent 2 billion first nine months year slipping behind nearest european rival barclays seventh position investment banking league tables according thomson reuters data alasdair warren banks head corporate investment banking europe middle east africa emea told reuters hes confident german lender recover lost ground next 12 months particularly equity capital markets ecm making series changes investment banks structure confident rise back ecm league tables said warren former cohead global private equity advisory business goldman sachs joined deutsche may year deutsche bank seen fees global equity products take biggest hit first nine months year 45 percent decline 328 million period global mampa fees went 31 percent fees attached global loans bonds slipped 36 percent 14 percent respectively banks share price almost halved year prompting speculation could lose top investment bankers advertisement last week global cohead real estate gaming lodging massimo saletti left join jpmorgan tuesday sources direct knowledge matter said asia pacific wealth management head ravi raju moving ubs warren promised reward division stay bank career opportunities despite limited budget expensive rainmakers trying shift investment banking business focus providing clients longterm advisory services dealmaking previously greater focus markets financingrelated products whereas focusing building longterm strategic dialogue relationships refocusing client coverage said announced series changes staff tuesday including promoting bob douglas head emea consumer retail corporate finance team working last decade douglas continue report scott bell global cohead consumer given additional role head uk ireland corporate finance britain charles wilkinson cohead uk corporate broking becomes chairman division matt hall succeeds wilkinson cohead uk corporate broking alongside andrew tusa appointments aimed revamping deutsches uk business bankers including bell tusa also joining new leadership group uk corporate investment banking people agenda meanwhile warren tried address gaps deutsches dealmaking capacity across europe example bank one based home country look industrials sector biggest source deals germany great product capability geographical coverage need add resources sector coverage teams said driven existing people make external hires add coverage certain sectors added far year bank failed rank among top three advisors biggest announced deals industry according thomson reuters data unable advise bayer 66 billion takeover monsanto biggest deal ever clinched german buyer pledged loyalty rival suitor warren said people agenda pay remains important also use career opportunities motivate staff order attract retain talent cant simply focus compensation said people agenda offering people opportunity grow develop professionals evaluate performance twice year monitor progress efficiencies among changes aimed streamlining business warren decided merge banks maritime industries business global industrials group within corporate finance appointing craig fuehrer global head maritime industries addition role head transportation industries across americas time michael zolotas becomes head maritime industries across emea peter illingworth continues role head maritime industries asia pacific klaus stoltenberg becomes chairman global shipping business hitherto global head unit deutsche bank also seeking develop cooperation among funds teams replicating similar structure implemented goldman sachs jpmorgan private equity teams work alongside focusing sovereign wealth funds pension funds family offices result evans hajitouma ashok pandit appointed global coheads sovereign wealth funds pension funds family offices based london hong kong respectively report mike walsh adam bagshaw globally act coheads private equity across world alasdair warren james mcmurdo regionally editing greg mahlich | 561 |
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<p>As property tax bills start arriving in mailboxes, many homeowners might be surprised to find their assessed evaluation is higher than they anticipated.</p>
<p>Continue Reading Below</p>
<p>According to the <a href="http://www.ntu.org/tax-basics/challenging-property-taxes.html" type="external">National Taxpayers Union Opens a New Window.</a>, between 30 and 60% of taxable property in the U.S. is over-assessed. What’s more, middle- and lower-income taxpayers’ properties are among the most often over-assessed, yet fewer than 5% of taxpayers challenge their assessments.</p>
<p>Although assessment procedures and requirements vary by state, property tax is calculated by multiplying the assessed evaluation amount and the millage rate, or the tax rate on assessed value determined by local government.</p>
<p>A notice of assessment is then mailed to the taxpayer stating the current value of the property as determined by the county assessor. If homeowners feel that they’re being unfairly taxed based on comparable homes in the area, they should start by contacting the county assessor’s office, says Richard Borges, president of the <a href="http://www.appraisalinstitute.org/" type="external">Appraisal Institute Opens a New Window.</a>.</p>
<p>“However, don’t assume that the assessor is out to get the property owner,” he says. “Assessors are charged with establishing equity in assessment unless the jurisdiction has some other type of regulatory or legislative control of the assessment process.”</p>
<p>When to Initiate an Appeal</p>
<p>Advertisement</p>
<p>Homeowners may want to consider initiating an appeal if their state’s jurisdiction is based on market value and their particular property’s value has decreased significantly below the assessed value on their tax bill, recommends Borges.</p>
<p>“Aside from inaccuracies, the best chance a consumer has of winning an appeal is to show a lack of consistency between their home’s value and other comparable homes in the neighborhood,” he says.</p>
<p>A discrepancy usually comes to light after an appraisal or when the property is refinanced or sold, says Evans Hale, property tax consultant at <a href="http://www.campbellandbrannon.com/" type="external">Campbell &amp; Brannon Property Tax Services LLC Opens a New Window.</a>.</p>
<p>“The appraisal value and/or the sales price in either case is compared to the county's value and this will give a good indication if the value is fair,” he says.</p>
<p>A current homeowner with intentions to sell the property may want to challenge the assessed value if they feel it is too high and could scare away prospective buyers.</p>
<p>“Proactively as the current homeowner, I’m not being taxed at that assessed value but I’m trying to lower that assessed value to make it a more attractive home to buy from someone who would then be taxed at that assessment after the transaction closed,” says attorney <a href="http://penninggroup.com/" type="external">Dan Penning Opens a New Window.</a>.</p>
<p>For homeowners considering making an appeal, here’s how to do it:</p>
<p>Step 1: Weigh the Costs</p>
<p>Fees can vary by region, but homeowners can expect to pay anywhere from $300 to $750 for an appeal based on the type and complexity of the project, the market, and the appraiser’s experience level, according to Borges.</p>
<p>“This fee does not include expert witness testimony, although that is an additional service the appraiser can provide,” he says.</p>
<p>There will be additional filing fees if the appeal goes to the superior court, adding up to a few hundred dollars depending on the jurisdiction plus attorney fees.</p>
<p>It’s essential to weigh out the estimated cost of the entire appeal process (independent appraisal, court and attorney fees) in comparison to the difference in tax value the homeowner hopes to appeal, says Penning.</p>
<p>“If the tax savings are not more than $2,500 in the first two years cumulatively, they might want to think about if they really want to do that because even if they win, the expense of appealing it might just eat up those tax savings for much of the foreseeable future.”</p>
<p>Step 2: Hire an Independent Appraiser</p>
<p>Homeowners can improve their chances of appealing their property tax assessment by hiring a certified independent appraiser. Having a real estate agent cite comparable sales in the area or market analysis won’t cut it, says Penning.</p>
<p>“[Independent appraisers] usually get three or four comparable properties and adjust them plus or minus because one property might have a little more square footage in the house than another…so that you’re comparing apples to apples and that’s why that appraisal is so important,” he says.</p>
<p>Having a third -party expert to provide credible, reliable opinions of the home’s value can help when it’s time to present the appraisal report to the local assessor.</p>
<p>“Many appraisers collaborate with property tax consultants and attorneys who specialize in tax appeal matters, which could provide the best opportunity for a property owner to increase the chances of a successful tax appeal,” Borges says.</p>
<p>Step 3: Comply with all State Laws, Deadlines, and Procedures</p>
<p>It’s important to contact local taxing authorities in advance of the deadline for appeals, and be prepared to present all documentation necessary.&#160; Be aware that the time frame to appeal is usually brief, anywhere from 15 to 45 days from the assessment date.</p>
<p>“If you don’t appear at the local level, you are out of luck from appealing it any further,” says Penning. “You’ve got to pay attention because if you miss the deadline, you’re out of luck for that year.”</p>
<p>Understanding and following procedures and protocols specific to a homeowner’s state or municipality can make or break an appeal and presenting incorrect information will not likely result in a reduction, explains Hale.</p>
<p>“An appeal can take a long time from start to finish but you may only get a few weeks’ notice for your hearing date so don't procrastinate on your homework.”</p> | true | 0 | property tax bills start arriving mailboxes many homeowners might surprised find assessed evaluation higher anticipated continue reading according national taxpayers union opens new window 30 60 taxable property us overassessed whats middle lowerincome taxpayers properties among often overassessed yet fewer 5 taxpayers challenge assessments although assessment procedures requirements vary state property tax calculated multiplying assessed evaluation amount millage rate tax rate assessed value determined local government notice assessment mailed taxpayer stating current value property determined county assessor homeowners feel theyre unfairly taxed based comparable homes area start contacting county assessors office says richard borges president appraisal institute opens new window however dont assume assessor get property owner says assessors charged establishing equity assessment unless jurisdiction type regulatory legislative control assessment process initiate appeal advertisement homeowners may want consider initiating appeal states jurisdiction based market value particular propertys value decreased significantly assessed value tax bill recommends borges aside inaccuracies best chance consumer winning appeal show lack consistency homes value comparable homes neighborhood says discrepancy usually comes light appraisal property refinanced sold says evans hale property tax consultant campbell amp brannon property tax services llc opens new window appraisal value andor sales price either case compared countys value give good indication value fair says current homeowner intentions sell property may want challenge assessed value feel high could scare away prospective buyers proactively current homeowner im taxed assessed value im trying lower assessed value make attractive home buy someone would taxed assessment transaction closed says attorney dan penning opens new window homeowners considering making appeal heres step 1 weigh costs fees vary region homeowners expect pay anywhere 300 750 appeal based type complexity project market appraisers experience level according borges fee include expert witness testimony although additional service appraiser provide says additional filing fees appeal goes superior court adding hundred dollars depending jurisdiction plus attorney fees essential weigh estimated cost entire appeal process independent appraisal court attorney fees comparison difference tax value homeowner hopes appeal says penning tax savings 2500 first two years cumulatively might want think really want even win expense appealing might eat tax savings much foreseeable future step 2 hire independent appraiser homeowners improve chances appealing property tax assessment hiring certified independent appraiser real estate agent cite comparable sales area market analysis wont cut says penning independent appraisers usually get three four comparable properties adjust plus minus one property might little square footage house anotherso youre comparing apples apples thats appraisal important says third party expert provide credible reliable opinions homes value help time present appraisal report local assessor many appraisers collaborate property tax consultants attorneys specialize tax appeal matters could provide best opportunity property owner increase chances successful tax appeal borges says step 3 comply state laws deadlines procedures important contact local taxing authorities advance deadline appeals prepared present documentation necessary160 aware time frame appeal usually brief anywhere 15 45 days assessment date dont appear local level luck appealing says penning youve got pay attention miss deadline youre luck year understanding following procedures protocols specific homeowners state municipality make break appeal presenting incorrect information likely result reduction explains hale appeal take long time start finish may get weeks notice hearing date dont procrastinate homework | 525 |
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<p>RUSH: Okay, folks, a point that I have been making for practically the entire 29 years I’ve been doing this program is now valid once again. I have become aware of some thinking on our side. You know, everybody’s trying to figure out why did the New York Times finally dump on poor Harvey — why? You won’t believe a theory gaining ground out there. You know what the theory is?</p>
<p>By the way, greetings. Welcome. Rush Limbaugh, EIB Network, Golden EIB Microphone. Telephone number, 800-282-2882.</p>
<p>The theory is, and it’s gaining ground, is that Harvey is taking one for the team. That all of this is being done on purpose in order for the media to then be justified in focusing on and ensnaring Trump. That Harvey Weinstein, the left went to Harvey Weinstein, “We need you to really bite a big one here for the team. We need you to really take a big, big bullet. But when it’s all over, we’ll explain to everybody that 90% of this isn’t true and that you did this to finally help everybody get rid of Trump.” And there are people on our side that believe that.</p>
<p>Now, let me illustrate what this actually would mean, if this theory is true. After ensnaring Trump, the New York Times and Ronan Farrow and Ben Affleck and all of the women, Ashley Judd, you name it, would throw a party for Harvey and thank them for having his reputation permanently destroyed just to enable the left to get Trump and to get even with what happened to poor Hillary. And then they’ll tell us that 90% of the stuff about Harvey was all BS, all in the service of getting rid of Trump.</p>
<p>Then Hillary and Obama will throw a gigantic fundraiser starring Harvey and his wife, who will have come back to him, Georgina Chapman, with Gwyneth, Ashley, and Angelina headlining. People on our side really think that’s what’s going on here. What does that tell you? It tells you that people on our side are permanently feeling defensive and incompetent and thinking the left is unbeatable and outsmarting us at every turn and that we are constantly falling for it.</p>
<p>This kind of defensiveness and assumption that the left is controlling everything, as I say, it’s not widespread, but I’m seeing this theory and versions of it advance kind of rapidly out there. So I was talking about this with somebody before the program, and I ran by them my vision here of this giant fundraiser starring Harvey where everybody admits that 90% of it was BS, and she said to me, “Be careful, ’cause every time you make jokes about these people they end up coming true.” I said, “Come on.”</p>
<p>I was looking at a blog called The Times of Israel blog, and the best explanation for why this has happened is right here. Ready? “ <a href="http://blogs.timesofisrael.com/why-the-ny-times-is-suddenly-taking-down-harvey-weinstein/" type="external">Why the NY Times is Suddenly Taking Down Harvey Weinstein</a>,” after all these years, and everybody knew it. Everybody knew it. The story’s now, “Well, Harvey had journalists on the payroll. Harvey had publicity agents on the payroll.” How did Harvey have any money left if he was paying everybody in Hollywood to keep his secret? And maybe he didn’t have any money, who knows. But here’s this from The Times of Israel blog.</p>
<p>“So the question — and it’s a big one — is why did the Gray Lady, that pinnacle of journalistic probity called the New York Times, suddenly find it necessary to violate the conspiracy of silence and share this information on page one only now?</p>
<p>“Can it be because barely a month ago, Weinstein announced his plan to direct a movie based on Leon Uris’s epic Warsaw Ghetto novel ‘Mila 18’? Can it be because Weinstein, despite his bleeding heart liberalism, despite his having shoveled truckloads of dollars into the Obama coffers, despite his blind obeisance to the Clinton corruption machine, crossed the Israel-hating Time’s red line and declared himself a Zionist and a lover of Israel?”</p>
<p>Now, that’s far more believable than this cockamamie theory that Harvey’s taking a bullet for the team here. Did any of that Harvey taking a bullet for the team resonate with you? Dawn, how about with you? I mean, it’s absurd. Now, this, the New York Times doesn’t like Israel, Netanyahu. They don’t like Israeli politics, which everybody’s confused by that because the New York Times ownership has been Jewish from day one. The editors have all been Jewish, so why are so many Hollywood leftists anti-Israel?</p>
<p>It’s been a question that people have been asking, and the answer’s deep and confusing and I don’t even want to go there, but this explanation, something has caused this. And I’ll tell you something else to be on the lookout for now. The media, everybody realizes the damage being done here, the damage being done to Hillary, the damage being done to the Obamas, the damage being done to the primary influential culture, motivational shaper entity in America, Hollywood. The damage here being done is incredible. And there’s gonna have to be push-back to this somehow.</p>
<p>Now, you factor Trump’s momentum, like the Supreme Court threw out the challenge to his travel ban. It’s gone. The NFL has the footprint of Donald Trump’s shoe on its corporate neck today. And we’re gonna get into this in great detail as the program unfolds today. Trump is going to announce by way of executive action, executive order, a major throw away of Obamacare that has the left in a tizzy today. The left is losing elections. Trump does not have his own party helping move the agenda, but Trump isn’t giving up, and Trump is moving forward. We talked about this in great detail yesterday. This is what pushing back looks like.</p>
<p>So, given the Trump momentum, and it is there, and given the implosion in Hollywood and of primary fundraisers and donors to the Clintons and Obamas, we have to be on the lookout for a media-led narrative change. Now, I’m not doubling back to this cockamamie theory that Harvey Weinstein’s taking a bullet for the team, but we have seen early attempts at this media narrative shift already by trying to equate Trump with Weinstein and vice-versa. That isn’t sticking. But they’re not gonna give that up.</p>
<p>There’s another attempt at this by Tina Brown today, who says the real problem in the Weinstein story is that somebody just like him is still in the White House. And Bill Clinton’s name never appears in her story. So they’re in this narrative shift, and they’re in the process of trying to take the heat — I mean, it’s a salacious story, it’s good for clicks, it’s good for hits, it’s good for grabbing and holding an audience, but the damage being done by this thing goes way beyond old Harvey. I mean, it’s encompassing pretty much all of the godlike figures that make up the left.</p>
<p>So the attempt here to equate Trump with Weinstein will probably continue. I don’t think they can shift the narrative, because the one thing they’re never gonna be able to do is separate Trump’s voters from Trump. Only Trump can do that. And there’s only one way Trump could do that, and that is if Trump is seen as joining the swamp, then his base is gone. And Trump’s not gonna join the swamp. But if it looks like he is, that’s gonna be the first fissure or crack between Trump supporters.</p>
<p>So let the media do their narrative shifting all they want, and I don’t think they’re gonna have any success in equating Harvey Weinstein with Trump. Besides, they tried that. The NBC Access Hollywood tape. They thought they already had Trump, and he escaped with no fingerprints whatsoever out of that. If they try to go back to that, I mean, that’s just the definition of insanity: doing something over and over again, expecting a different result. But I’m telling you they’re discombobulated. It might appear they’re having fun with this for a while, but believe me, they realize the damage that they are helping along here by the continual coverage of the Harvey story.</p>
<p>Harvey supposedly chartered or had some donor put him on a private plane last night for Europe to go to sex addiction rehab somewhere in Europe. And so that’s… Harvey… They got Harvey out of the country now. But… (interruption) Well, there’s all kinds of sex rehab places in America, but the media can hunt you down. What the media would do would do, the media — somebody from (take your pick) the Enquirer, People, doesn’t matter.</p>
<p>Where did Harvey’s wife announce her leaving her husband? People magazine! Yeah. She called People magazine. She didn’t call the New York Times. She didn’t call Women’s Wear Daily or The Bridal Registry. She called People magazine to announce this. The way it works, he checks in… There’s all kinds of these places in Malibu. So Harvey checks in and all it would take is some member of the media trying to check in as a sex addict and actually get in there as supposed patient.</p>
<p>So that’s why they’re getting Harvey out of the country. He may not even be going to a sex rehab clinic. I mean, he may just be saying so. (interruption) I know. The story is brother turned him in, family rivalry. I’m just throwing out The Times of Israel blog because, you know, what would make the New York Times turn? They had this story all the way back in 2004, don’t forget, and they’ve been sitting on it since 2004. Everybody has. Ronan Farrow had this story; took it to NBC. NBC said, “You know what? What you have here isn’t reportable.”</p>
<p>Ronan said, “Well, yeah, it is,” and he walked down the street to The New Yorker who took it in less than 30 minutes. Now they’re going back to NBC. “Why did you spike it? Why did you…?” “Well, when he bought it to us, it wasn’t very reportable,” and everybody’s remembering what Lorne Michaels said: “Well, we didn’t do any Harvey jokes on Saturday Night Live ’cause he’s a New York guy. Well, yeah, so’s Trump, and it hasn’t stopped you.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: Marilyn in Belleville, Michigan. Glad you called. How are you?</p>
<p>CALLER: I’m fine, Rush. Nice to talk to you. Hey, I had a question. You know, during the women’s march Ashley Judd got up on the podium and she was just this diatribe of all these horrible things, outlandish things against Trump.</p>
<p>RUSH: Right.</p>
<p>CALLER: She didn’t know Trump. So how can she suddenly, after all these years about Weinstein, come in and start complaining? I’m thinking, it doesn’t make sense to me.</p>
<p />
<p />
<p>RUSH: Well, it does if you are able to do what I wish everybody would do, and that is understand that politics is in everything that happens in Hollywood or happens on the news, and it corrupts. Left-wing politics, it corrupts. You’re absolutely right. Ashley Judd wasn’t wearing one of those pussai hats but she was out there at that rally.</p>
<p>CALLER: Absolutely.</p>
<p>RUSH: “I’m a nasty woman.” She went off on Trump on what a reprobate he is, and now we know that she knew what a reprobate Weinstein was but she didn’t have any personal knowledge of Trump, and yet she launched on Trump without knowing a thing about him other than what the news had told her, and yet she stood mute on Weinstein for years.</p>
<p>CALLER: Precisely. Doesn’t make sense to me. Rush, I think you’ve got it. It’s a conspiracy. Whatever allows the media to come back and bring up Trump and —</p>
<p>RUSH: Well, they’re gonna try, but the reason she launched on Weinstein is because it became safe to and it became safe to because she talked to the New York Times and was assured they were gonna run the story and it wasn’t gonna be just her. So she wasn’t gonna be alone taking on this powerful pig. But it’s still a great question. I’m glad you called. You earned the honor of being first call today. Very, very, very well done.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: We mentioned earlier that Harvey Weinstein has fled the country on the way to some spot in Europe for sex rehab. We are sitting here wondering if Harvey maybe has ended up in a place with no extradition treaty with the United States. I’m just asking. My fertile mind unbound, you know, much like Roman Polanski.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: No. In fact, I’m on the verge of evolving a whole new theory about the Hollywood left now and why they are the Hollywood left. And your question, interestingly enough, propels me even further down this line of thinking. Snerdley just asked me — and don’t misunderstand his question. ‘Cause there’s no tone in his question and there’s no accusatory or anger thing.</p>
<p>He said, “Do you think that the women of Hollywood are actually going to take over and push men out like they’re trying to do in a number of different areas and venues of our culture?” And I said I don’t doubt that that’s part of what’s going on here. I think what we are seeing, you look at this Weinstein business, and, for me, it crystallizes so much.</p>
<p>We know certain things about Hollywood. We know that culturally and socially that, compared to most of us, it’s debauchery. Debauchery is promoted as a lifestyle, as something you and I can’t do, don’t do, but the real cool and hip people do. Their parties are promoted and legion. That very lifestyle has become almost synonymous with Hollywood. Now, there has to be something to permit — for that debauchery, who’s on the receiving end of the debauchery? Women are.</p>
<p>So something has to happen for the debauchery to be permitted. And there’s no two glaring examples of it than Bill Clinton and Harvey Weinstein. What was the get-out-of-jail card for Bill Clinton? Why did the feminists not make a move to advance their own interests? They had a golden opportunity to advance their agenda by simply holding Bill Clinton accountable to it. But he got a pass. Why? Well, the answer is crystal clear. He was a pro-abort, but in addition to pro-abortion, which is the biggie, he was also, quote, unquote, right or correct on a number of other issues. And it bought him an exemption from whatever it was that was animating and motivating liberal women.</p>
<p>Harvey Weinstein, same thing. Harvey Weinstein has been behaving the way he has since Miramax was founded in the nineties. I mean, he’s been at this for 20 years. Cut to the chase. I’m not saying that Hollywood liberalism isn’t genuine, but I think an element of it exists as cover, as insurance to get away with the kind of behavior they get away with every day. And Clinton and Weinstein illustrate it.</p>
<p>Clinton still is not included in any of these stories about Weinstein. Clinton is still the star of the Democrat Party. Before him, Ted Kennedy. Now, I’m not saying that Ted Kennedy and Bill Clinton are not genuine, heartfelt leftists, but I am beginning to think that some of it might in fact be a construct in order to secure the kind of freedom they got which permitted them to follow their instincts in the way they treated women. Being liberal allowed them to abuse and mistreat and have their way with women. Ted Kennedy ditto. Harvey Weinstein up until now.</p>
<p>And I think part of it, I heard somebody describe it, some Hollywood person, I don’t remember who and I wish I could because it was not some B player. He said, “You realize what Hollywood is, right?”</p>
<p>“No, what is it?”</p>
<p>“What does every guy want? Every guy wants the girl. Every guy wants women chasing him. Every guy wants to be the guy that women want. Well, every guy with power in Hollywood is that guy. Hollywood is about getting girls.” And this guy cited Quentin Tarantino as evidence. (laughing) If Quentin Tarantino weren’t making Kill Bill movies and Pulp Fiction movies, would anybody care about him, was the example I got from this guy. I wish I could remember who it is.</p>
<p>So, you know, I’ve heard this stuff and it’s gone in one ear and out the other because I’ve always bought that Hollywood is genuinely communist, genuinely social justice warrior leftist, and I don’t doubt that there’s a foundation, but I do think that some of this posturing and some of the exclusionary treatment of conservatives was done as an insurance policy for the way these people in Hollywood are allowed to treat women. It’s not just Weinstein that’s doing it. He may be the current glaring example.</p>
<p>But there are powerful liberal men who are allowed to violate the tenets of feminism every day of their lives, if they happen to be right on abortion. You don’t know what a big get-out-of-jail card that is, being pro-choice, proudly, loudly pro-choice can buy you all kinds of excuses and exemptions from Hollywood women, from liberal women and other people who are dyed-in-the-wool, full-fledged, no doubt about it, no joking about it liberals.</p>
<p>And therein lies all of the hypocrisy that is never held to account. Their hypocrisy never sticks to them, and they are very seldom even attempted to be held accountable, which gives rise to the question, “Okay, why now with Harvey Weinstein?” Well, there has to be a reason. There are a number of theories that are being bandied about. And I’ll guarantee you the reason why is gonna be found in liberalism somewhere. It may not be the fundamental reason, but there will be an element of liberalism in the reason that all of a sudden everything Harvey got a pass on is now fallen on his head.</p>
<p>Now, you may say, “Rush, he didn’t get a pass. He had to pay settlements.” He got a pass. He was allowed to continue. “Rush, he was hated!” Doesn’t matter to me. He still did his job and still had that power and still intimidated and still scared people. He was able to continue doing what he did the way he wanted to do it. And look what he’s doing? He’s raising money for the Obamas, raising money for the Clintons, going to the fundraisers, bundling everything. Those are the get out of jail cards.</p>
<p>He may not really care one way or the other about it. He just sizing up with whom am I the most powerful, with whom am I gonna have the greater freedom? And it’s always gonna be the left, if you’re in Hollywood, when you ask and answer that question. I’m only getting into this because I’ve wondered for the longest time, like everybody else has, how in the world do these guys get away with it? Why are they never held to account? And there are reasons for it.</p>
<p>Look what they’re allowed to get away with doing! Their behavior, look at what is ignored, look the other way, and defended, if it ever comes under assault from the political right. With Bill Clinton it didn’t affect his job! It’s only sex! It’s none of your business! And then look what a similar person who happens to be conservative found out to be behaving in similar ways is destroyed, not just career, but life is destroyed by women and men who want to curry favor with women, which is what Hollywood is.</p>
<p>So Snerdley’s question, “Do you think women are gonna take over Hollywood?” I don’t doubt that there is such a drive or an effort or a movement to do so. I think that what the Weinstein episode is showing is there is a lot of pent-up anger and rage at all of this stuff these guys in Hollywood have been doing for a long time, and now it’s time to lower the boom and exact the price. And I think there are a lot of guys out there probably quaking in their boots right now over watching what’s happening to Harvey knowing that it’s also known or suspected of them and that Harvey’s scalp is not gonna be nearly enough to satisfy whoever is collecting ’em. The scalps, I mean.</p>
<p>So we shall see, ladies and gentlemen. But in a way I’m saying that some of Hollywood liberalism is manufactured and phony for the purposes that it serves. But I don’t want that to be understood as my saying it’s not real out there and it’s all fake and phony. It’s not that. But there are a lot of, what have I always said, men will do and go wherever they have to go and be whatever they have to be to get women, which I’ve always said it’s why women, in civilized societies, ultimately have all the power. And I think they’re starting to demand it now. I think there’s all kinds of cultural upheaval that we’re on the verge of witnessing.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: The dumping on Harvey Weinstein continues, which means a lot of people are trying to curry favor with women. “ <a href="http://www.hollywoodreporter.com/news/weinstein-alma-mater-moves-revoke-honorary-degree-1047748" type="external">Weinstein Alma Mater Moves to Revoke Honorary Degree</a> — The University at Buffalo is moving to have alumnus Harvey Weinstein’s honorary degree revoked in response to multiple accusations of harassment and sexual assault against the Hollywood mogul. … Meanwhile, Simon Wiesenthal Center founder and dean Rabbi Marvin Hier released a statement, saying everyone at the human rights organization is ‘horrified by the charges leveled against Harvey Weinstein by so many people.</p>
<p>“‘Given the gravity of the accusations, we are removing his name from our distinguished roster of honorees in all our future publications,’ Hier adds. ‘Obviously, we can’t go back in time, but had we known then what we know now, we would have never honored [Weinstein], because such egregious behavior is against everything the Museum of Tolerance and the Wiesenthal Center stands for…'”</p>
<p>Okay, that’s story number one. I do not know how to pronounce this name and I’ve never bothered to check the pronunciation. It’s an actress’s name, D-E-L-E-V-I-N-G-N-E. Now, left to what my understanding of it is, it’d be Delevingne. But that just doesn’t sound like the way somebody would pronounce. The name is Cara, and I’m sure it’s not Delevingne. So I’m sure it’s some exotic pronunciation.</p>
<p>Anyway, she’s an actress. “Cara Delevingne Breaks Silence on ‘Terrifying’ Experience With Harvey Weinstein.” This is in the Hollywood Reporter. “‘The more we talk about it, the less power we give them,’ said the actress. Cara Delevingne is coming forward about her own experience with Harvey Weinstein. On Wednesday, the actress recalled that when she first started in the film industry, she received a call from the film mogul and he asked her if she had slept with any of the women she had been seen with.</p>
<p>“‘When I first started to work as an actress … Harvey Weinstein [was] asking if I had slept with any of the women I was seen out with in the media. It was a very odd and uncomfortable call… I answered none of his questions and hurried off the phone but before I hung up, he said to me that if I was gay or decided to be with a woman especially in public that I’d never get the role of a straight woman or make it as an actress in Hollywood.’</p>
<p>“Delevingne continued: ‘A year or two later, I went to a meeting with him in the lobby of a hotel with a director about an upcoming film. The director left the meeting and Harvey asked me to stay and chat with him. As soon as we were alone he began to brag about all the actresses he had slept with and how he had made their careers and spoke about other inappropriate things of a sexual nature.'” You don’t think that women are on the warpath to get even with this guy?</p>
<p>I wouldn’t blame ’em. (interruption) Yeah, it was very homophobic for Weinstein, which is very not in keeping with a card-carrying liberal, right? This is my point. How much of this is an act? I mean, this is pure homophobia here, to tell this actress (paraphrased), “You can never make it if you’re seen kissing a woman. If you’re gay, I’m gonna make sure you never make it.”</p>
<p>That is gonna generate a new round of anti-Harvey hysteria.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: Sam in Manhattan. Sam, I’m glad you waited. You’re up next here on the EIB Network. Hello.</p>
<p>CALLER: Hey. It’s a pleasure to finally speak to you, Rush. Thank you for all the years of education.</p>
<p>RUSH: Thank you, sir.</p>
<p>CALLER: With regard to the… Oh, you’re welcome. It’s my pleasure. In regard to this slimy Harvestein or whatever his name is, Harvey, what are the chances that there is actually a much bigger connection to this, the reason why he was not indicted? Especially after the tape that we heard yesterday, what are the chances that if they dig deeper, the DA has something to do with the Justice Department…? I mean, what are the chances it’s much deeper than that, Rush?</p>
<p>RUSH: You mean involving more powerful, interesting people? You mean if they go after Harvey, they might necessarily have to uncover something about other people that they would rather keep hidden?</p>
<p>CALLER: Flat-out corruption from the Justice Department up above. If this guy’s given money left and right to liberals — and we know how corrupt they are. We know anything from what’s her name, Lynch to the FBI, the ex-FBI director —</p>
<p>RUSH: Oh, yeah. Definitely something odd going on there. Clinton on the tarmac, “talking about grandkids” when she doesn’t have any? Yeah, you’re right on the money on that. Your nose is in the right place on this. That’s an interesting question. (interruption) Well, no, it is!</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: No, his question was, “Why is the DA not moving to indict Harvey Weinstein? Is it because they’re afraid of who else and what else might be revealed?” I don’t know, but I can tell you I understand the thinking. I mean, here you have what appears to be… You’ve got audio. You’ve got the guy with numerous women now testifying what he did.</p>
<p>But you have the DA saying, “Ehhhhhh, not enough here to indict.” And you can imagine a number of women saying, “What the hell more do you need?” Well, look. It’s New York. It’s Manhattan. If such an investigation would expose (sigh) people that (pfft!) cannot be exposed, I wouldn’t put it past them. There’s so much… Liberalism’s corrupted so much. I mean, you can’t blame people thinking this way.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: Michael in Killeen, Texas. Welcome. Great to have you here.</p>
<p>CALLER: Good afternoon, sir. I’ve been a listener since ’88 when you were at ABC, and I’ve been on hold since 1992.</p>
<p>RUSH: (laughing).</p>
<p>CALLER: Anyway, NBC killed the story with Weinstein. Who owns NBC? Comcast. I think there’s a hidden hand here that a lot of people aren’t taking a look at. Look at all the properties Comcast owns. They’re in the media business and they’ve got their fingers everywhere, media, politics, distribution. I mean, Comcast is piping in what people see in the large market.</p>
<p>RUSH: So you think that the NBC decision to spike took place at the Comcast CEO level and not —</p>
<p>CALLER: Oh, definitely. The Roberts family I think has been the hidden hand that a lot of people haven’t taken a look at. I mean, Bo or me not to sound all conspiratorial, but this is a name. The Roberts family, they own a lot of stuff. They’re into politics —</p>
<p>RUSH: Brian Roberts is the CEO of Comcast. Roberts family. I don’t think you have to go up that high the chain to find out why this got spiked. Maybe it did, but I don’t think it needs to get any higher than anybody at NBC who went to Harvey Weinstein parties.</p> | true | 0 | rush okay folks point making practically entire 29 years ive program valid become aware thinking side know everybodys trying figure new york times finally dump poor harvey wont believe theory gaining ground know theory way greetings welcome rush limbaugh eib network golden eib microphone telephone number 8002822882 theory gaining ground harvey taking one team done purpose order media justified focusing ensnaring trump harvey weinstein left went harvey weinstein need really bite big one team need really take big big bullet well explain everybody 90 isnt true finally help everybody get rid trump people side believe let illustrate actually would mean theory true ensnaring trump new york times ronan farrow ben affleck women ashley judd name would throw party harvey thank reputation permanently destroyed enable left get trump get even happened poor hillary theyll tell us 90 stuff harvey bs service getting rid trump hillary obama throw gigantic fundraiser starring harvey wife come back georgina chapman gwyneth ashley angelina headlining people side really think thats whats going tell tells people side permanently feeling defensive incompetent thinking left unbeatable outsmarting us every turn constantly falling kind defensiveness assumption left controlling everything say widespread im seeing theory versions advance kind rapidly talking somebody program ran vision giant fundraiser starring harvey everybody admits 90 bs said careful cause every time make jokes people end coming true said come looking blog called times israel blog best explanation happened right ready ny times suddenly taking harvey weinstein years everybody knew everybody knew storys well harvey journalists payroll harvey publicity agents payroll harvey money left paying everybody hollywood keep secret maybe didnt money knows heres times israel blog question big one gray lady pinnacle journalistic probity called new york times suddenly find necessary violate conspiracy silence share information page one barely month ago weinstein announced plan direct movie based leon uriss epic warsaw ghetto novel mila 18 weinstein despite bleeding heart liberalism despite shoveled truckloads dollars obama coffers despite blind obeisance clinton corruption machine crossed israelhating times red line declared zionist lover israel thats far believable cockamamie theory harveys taking bullet team harvey taking bullet team resonate dawn mean absurd new york times doesnt like israel netanyahu dont like israeli politics everybodys confused new york times ownership jewish day one editors jewish many hollywood leftists antiisrael question people asking answers deep confusing dont even want go explanation something caused ill tell something else lookout media everybody realizes damage done damage done hillary damage done obamas damage done primary influential culture motivational shaper entity america hollywood damage done incredible theres gon na pushback somehow factor trumps momentum like supreme court threw challenge travel ban gone nfl footprint donald trumps shoe corporate neck today gon na get great detail program unfolds today trump going announce way executive action executive order major throw away obamacare left tizzy today left losing elections trump party helping move agenda trump isnt giving trump moving forward talked great detail yesterday pushing back looks like given trump momentum given implosion hollywood primary fundraisers donors clintons obamas lookout medialed narrative change im doubling back cockamamie theory harvey weinsteins taking bullet team seen early attempts media narrative shift already trying equate trump weinstein viceversa isnt sticking theyre gon na give theres another attempt tina brown today says real problem weinstein story somebody like still white house bill clintons name never appears story theyre narrative shift theyre process trying take heat mean salacious story good clicks good hits good grabbing holding audience damage done thing goes way beyond old harvey mean encompassing pretty much godlike figures make left attempt equate trump weinstein probably continue dont think shift narrative one thing theyre never gon na able separate trumps voters trump trump theres one way trump could trump seen joining swamp base gone trumps gon na join swamp looks like thats gon na first fissure crack trump supporters let media narrative shifting want dont think theyre gon na success equating harvey weinstein trump besides tried nbc access hollywood tape thought already trump escaped fingerprints whatsoever try go back mean thats definition insanity something expecting different result im telling theyre discombobulated might appear theyre fun believe realize damage helping along continual coverage harvey story harvey supposedly chartered donor put private plane last night europe go sex addiction rehab somewhere europe thats harvey got harvey country interruption well theres kinds sex rehab places america media hunt media would would media somebody take pick enquirer people doesnt matter harveys wife announce leaving husband people magazine yeah called people magazine didnt call new york times didnt call womens wear daily bridal registry called people magazine announce way works checks theres kinds places malibu harvey checks would take member media trying check sex addict actually get supposed patient thats theyre getting harvey country may even going sex rehab clinic mean may saying interruption know story brother turned family rivalry im throwing times israel blog know would make new york times turn story way back 2004 dont forget theyve sitting since 2004 everybody ronan farrow story took nbc nbc said know isnt reportable ronan said well yeah walked street new yorker took less 30 minutes theyre going back nbc spike well bought us wasnt reportable everybodys remembering lorne michaels said well didnt harvey jokes saturday night live cause hes new york guy well yeah sos trump hasnt stopped break transcript rush marilyn belleville michigan glad called caller im fine rush nice talk hey question know womens march ashley judd got podium diatribe horrible things outlandish things trump rush right caller didnt know trump suddenly years weinstein come start complaining im thinking doesnt make sense rush well able wish everybody would understand politics everything happens hollywood happens news corrupts leftwing politics corrupts youre absolutely right ashley judd wasnt wearing one pussai hats rally caller absolutely rush im nasty woman went trump reprobate know knew reprobate weinstein didnt personal knowledge trump yet launched trump without knowing thing news told yet stood mute weinstein years caller precisely doesnt make sense rush think youve got conspiracy whatever allows media come back bring trump rush well theyre gon na try reason launched weinstein became safe became safe talked new york times assured gon na run story wasnt gon na wasnt gon na alone taking powerful pig still great question im glad called earned honor first call today well done break transcript rush mentioned earlier harvey weinstein fled country way spot europe sex rehab sitting wondering harvey maybe ended place extradition treaty united states im asking fertile mind unbound know much like roman polanski break transcript rush fact im verge evolving whole new theory hollywood left hollywood left question interestingly enough propels even line thinking snerdley asked dont misunderstand question cause theres tone question theres accusatory anger thing said think women hollywood actually going take push men like theyre trying number different areas venues culture said dont doubt thats part whats going think seeing look weinstein business crystallizes much know certain things hollywood know culturally socially compared us debauchery debauchery promoted lifestyle something cant dont real cool hip people parties promoted legion lifestyle become almost synonymous hollywood something permit debauchery whos receiving end debauchery women something happen debauchery permitted theres two glaring examples bill clinton harvey weinstein getoutofjail card bill clinton feminists make move advance interests golden opportunity advance agenda simply holding bill clinton accountable got pass well answer crystal clear proabort addition proabortion biggie also quote unquote right correct number issues bought exemption whatever animating motivating liberal women harvey weinstein thing harvey weinstein behaving way since miramax founded nineties mean hes 20 years cut chase im saying hollywood liberalism isnt genuine think element exists cover insurance get away kind behavior get away every day clinton weinstein illustrate clinton still included stories weinstein clinton still star democrat party ted kennedy im saying ted kennedy bill clinton genuine heartfelt leftists beginning think might fact construct order secure kind freedom got permitted follow instincts way treated women liberal allowed abuse mistreat way women ted kennedy ditto harvey weinstein think part heard somebody describe hollywood person dont remember wish could b player said realize hollywood right every guy want every guy wants girl every guy wants women chasing every guy wants guy women want well every guy power hollywood guy hollywood getting girls guy cited quentin tarantino evidence laughing quentin tarantino werent making kill bill movies pulp fiction movies would anybody care example got guy wish could remember know ive heard stuff gone one ear ive always bought hollywood genuinely communist genuinely social justice warrior leftist dont doubt theres foundation think posturing exclusionary treatment conservatives done insurance policy way people hollywood allowed treat women weinstein thats may current glaring example powerful liberal men allowed violate tenets feminism every day lives happen right abortion dont know big getoutofjail card prochoice proudly loudly prochoice buy kinds excuses exemptions hollywood women liberal women people dyedinthewool fullfledged doubt joking liberals therein lies hypocrisy never held account hypocrisy never sticks seldom even attempted held accountable gives rise question okay harvey weinstein well reason number theories bandied ill guarantee reason gon na found liberalism somewhere may fundamental reason element liberalism reason sudden everything harvey got pass fallen head may say rush didnt get pass pay settlements got pass allowed continue rush hated doesnt matter still job still power still intimidated still scared people able continue way wanted look hes hes raising money obamas raising money clintons going fundraisers bundling everything get jail cards may really care one way sizing powerful gon na greater freedom always gon na left youre hollywood ask answer question im getting ive wondered longest time like everybody else world guys get away never held account reasons look theyre allowed get away behavior look ignored look way defended ever comes assault political right bill clinton didnt affect job sex none business look similar person happens conservative found behaving similar ways destroyed career life destroyed women men want curry favor women hollywood snerdleys question think women gon na take hollywood dont doubt drive effort movement think weinstein episode showing lot pentup anger rage stuff guys hollywood long time time lower boom exact price think lot guys probably quaking boots right watching whats happening harvey knowing also known suspected harveys scalp gon na nearly enough satisfy whoever collecting em scalps mean shall see ladies gentlemen way im saying hollywood liberalism manufactured phony purposes serves dont want understood saying real fake phony lot always said men go wherever go whatever get women ive always said women civilized societies ultimately power think theyre starting demand think theres kinds cultural upheaval verge witnessing break transcript rush dumping harvey weinstein continues means lot people trying curry favor women weinstein alma mater moves revoke honorary degree university buffalo moving alumnus harvey weinsteins honorary degree revoked response multiple accusations harassment sexual assault hollywood mogul meanwhile simon wiesenthal center founder dean rabbi marvin hier released statement saying everyone human rights organization horrified charges leveled harvey weinstein many people given gravity accusations removing name distinguished roster honorees future publications hier adds obviously cant go back time known know would never honored weinstein egregious behavior everything museum tolerance wiesenthal center stands okay thats story number one know pronounce name ive never bothered check pronunciation actresss name delevingne left understanding itd delevingne doesnt sound like way somebody would pronounce name cara im sure delevingne im sure exotic pronunciation anyway shes actress cara delevingne breaks silence terrifying experience harvey weinstein hollywood reporter talk less power give said actress cara delevingne coming forward experience harvey weinstein wednesday actress recalled first started film industry received call film mogul asked slept women seen first started work actress harvey weinstein asking slept women seen media odd uncomfortable call answered none questions hurried phone hung said gay decided woman especially public id never get role straight woman make actress hollywood delevingne continued year two later went meeting lobby hotel director upcoming film director left meeting harvey asked stay chat soon alone began brag actresses slept made careers spoke inappropriate things sexual nature dont think women warpath get even guy wouldnt blame em interruption yeah homophobic weinstein keeping cardcarrying liberal right point much act mean pure homophobia tell actress paraphrased never make youre seen kissing woman youre gay im gon na make sure never make gon na generate new round antiharvey hysteria break transcript rush sam manhattan sam im glad waited youre next eib network hello caller hey pleasure finally speak rush thank years education rush thank sir caller regard oh youre welcome pleasure regard slimy harvestein whatever name harvey chances actually much bigger connection reason indicted especially tape heard yesterday chances dig deeper da something justice department mean chances much deeper rush rush mean involving powerful interesting people mean go harvey might necessarily uncover something people would rather keep hidden caller flatout corruption justice department guys given money left right liberals know corrupt know anything whats name lynch fbi exfbi director rush oh yeah definitely something odd going clinton tarmac talking grandkids doesnt yeah youre right money nose right place thats interesting question interruption well break transcript rush question da moving indict harvey weinstein theyre afraid else else might revealed dont know tell understand thinking mean appears youve got audio youve got guy numerous women testifying da saying ehhhhhh enough indict imagine number women saying hell need well look new york manhattan investigation would expose sigh people pfft exposed wouldnt put past theres much liberalisms corrupted much mean cant blame people thinking way break transcript rush michael killeen texas welcome great caller good afternoon sir ive listener since 88 abc ive hold since 1992 rush laughing caller anyway nbc killed story weinstein owns nbc comcast think theres hidden hand lot people arent taking look look properties comcast owns theyre media business theyve got fingers everywhere media politics distribution mean comcast piping people see large market rush think nbc decision spike took place comcast ceo level caller oh definitely roberts family think hidden hand lot people havent taken look mean bo sound conspiratorial name roberts family lot stuff theyre politics rush brian roberts ceo comcast roberts family dont think go high chain find got spiked maybe dont think needs get higher anybody nbc went harvey weinstein parties | 2,350 |
<p>Marcus Jundt moved to Williston from Minnesota almost four years ago and has opened four restaurants there since. Food isn't propelling his business, though. It's oil.</p>
<p>"Everything I've done in Williston is a derivative of oil," he says.</p>
<p>Continue Reading Below</p>
<p>That oil has averaged $96 a barrel over the past four years, fueling more drilling, more hiring, and bigger appetites in North Dakota, Texas, Oklahoma and elsewhere. Now oil has hit a rough patch, plunging to $80 from $107 in June on fears of a global glut. Many expect these lower prices are to stick around for a while.</p>
<p>Lower oil prices, while good for the broader U.S. economy, are a threat to what has been a surprising and dramatic surge in oil production in the U.S., and to drilling communities that have come to depend on oil money.</p>
<p>"If the price gets low enough and stays there long enough I'm sure it will affect the number of people and the amount of money that will be spent in the greater community — and I have exposure to that," Jundt says.</p>
<p>U.S. oil production has gone up by 3.5 million barrels per day, or 70 percent, since 2008. High prices fueled the boom, providing oil companies the profits and investor cash to buy up land, pay for drilling rigs, and develop new technology. Places like Williston, a once-sleepy farming town, thrived with increased economic activity, well-paying jobs and rising tax revenue.</p>
<p>Prices would have to fall lower, and stay low for a while, to turn the U.S. oil boom into a bust. Wells that are already producing won't be shut off and enormous projects with long-time horizons will still be built. Many drillers have funded next year's drilling plans by selling oil in the futures market.</p>
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<p>Still, a $20 drop in the price of oil means $170 million less in revenue every day for the U.S. oil industry.</p>
<p>Investors are less willing to take on the risk of funding new expansion without hopes for a big reward and oil companies big and small are left with less money to go and drill the next well.</p>
<p>BP, Chevron and Shell told investors last week they would reduce spending on new development because of lower prices.</p>
<p>Mike McDonald, co-owner of Triad Energy, which usually operates 1 or 2 rigs in Oklahoma, says that low prices have stung and now he's not planning to get another rig going after current projects are complete.</p>
<p>Drilling in fields that aren't very prolific will stop because it won't be profitable. For example, drillers in North Dakota's Burke County need $81 a barrel on average to break even, according to the Department of Mineral Resources, while the price is just $28 in McKenzie County, the state's top oil producing county.</p>
<p>North Dakota Department of Mineral Resources director Lynn Helms says companies are looking to cut costs on such things as electricity generation and water disposal. He says the average operating cost of a well has risen 36 percent in the past year to $15,000 a month, mirroring an industry-wide struggle with higher costs.</p>
<p>The analysis firm IHS calculates in a report released Monday that the income that oil and gas companies made on the capital they spent has fallen by half since 2000, even as oil prices increased. "The recent price drop in global crude prices will only add to these financial challenges," said IHS's Daniel Pratt.</p>
<p>For now, boomtowns like Williston are still going strong. Hotels are full, restaurants like Jundt's are packed with tired roughnecks and roads are choked with hulking oil field trucks.</p>
<p>But when drillers cut costs, communities will eventually feel it. "I haven't noticed anything yet," says Bert Anderson, mayor of Crosby, a small town just south of the Canadian border where oil is particularly expensive to produce. But if oil stays at current prices, "eventually it will have an impact," he says.</p>
<p>Helms says that the state's next two-year budget may have to be revised because the preliminary budget forecast was based on $90 a barrel.</p>
<p>On Wall Street, there is considerable disagreement about the duration of lower prices and the potential industry impact. But there's broad agreement that at least the rate of growth in the U.S. will slow.</p>
<p>Goldman Sachs analysts wrote last week that OPEC countries are unlikely to curtail production to nudge prices higher — which means U.S. drillers will have to do so instead.</p>
<p>Bernstein Research's Bob Brackett estimates one-third of U.S. shale oil production is "uneconomic" at $80 per barrel. As a result, he says, producers in the U.S. and elsewhere will cut back and the price will quickly recover.</p>
<p>Thomas Driscoll of Barclays believes economics are "robust" in most of the U.S. shale regions at prices between $75 and $80 a barrel. While he expects the rate of U.S. production growth to slow, he doesn't think production would stop increasing unless long-term oil prices fall to a range of $65 to $75 per barrel.</p>
<p>That's certainly where it would hurt for Nelson Wood. His family's ties to oil stretch back to 1938, when his mother started in the business after an oil discovery set off a boom in Illinois.</p>
<p>Since 2001, Wood has grown his company from five to 30 employees, and now has 200 small wells in Illinois. These wells, known as "stripper wells" produce just a few barrels of oil per day. By comparison, a new well in North Dakota might produce 500 barrels per day and a big offshore oil platform might produce 200,000 barrels per day.</p>
<p>For now, Wood has suspended hiring and reduced plans for new wells next year to four from 10. He says his company, Wood Energy of Mt. Vernon, Illinois, is still profitable overall at $80 a barrel, but things are starting to get tight.</p>
<p>"$70 starts to get in a place that we don't want to be," he says.</p>
<p>Some say a small slowdown could have some upside. Local governments in drilling regions are straining to keep up with demand for new services and infrastructure to deal with population increases and the new economic activity. It might even help drillers who have had trouble finding enough workers and equipment.</p>
<p>"A little bit of a slowdown to give everyone a chance to take their breath isn't all a bad thing," says Ben Sheppard, of the Permian Basin Association in Midland, Texas. "The industry has been white hot for so long."</p>
<p>Fahey reported from New York.</p> | true | 0 | marcus jundt moved williston minnesota almost four years ago opened four restaurants since food isnt propelling business though oil everything ive done williston derivative oil says continue reading oil averaged 96 barrel past four years fueling drilling hiring bigger appetites north dakota texas oklahoma elsewhere oil hit rough patch plunging 80 107 june fears global glut many expect lower prices stick around lower oil prices good broader us economy threat surprising dramatic surge oil production us drilling communities come depend oil money price gets low enough stays long enough im sure affect number people amount money spent greater community exposure jundt says us oil production gone 35 million barrels per day 70 percent since 2008 high prices fueled boom providing oil companies profits investor cash buy land pay drilling rigs develop new technology places like williston oncesleepy farming town thrived increased economic activity wellpaying jobs rising tax revenue prices would fall lower stay low turn us oil boom bust wells already producing wont shut enormous projects longtime horizons still built many drillers funded next years drilling plans selling oil futures market advertisement still 20 drop price oil means 170 million less revenue every day us oil industry investors less willing take risk funding new expansion without hopes big reward oil companies big small left less money go drill next well bp chevron shell told investors last week would reduce spending new development lower prices mike mcdonald coowner triad energy usually operates 1 2 rigs oklahoma says low prices stung hes planning get another rig going current projects complete drilling fields arent prolific stop wont profitable example drillers north dakotas burke county need 81 barrel average break even according department mineral resources price 28 mckenzie county states top oil producing county north dakota department mineral resources director lynn helms says companies looking cut costs things electricity generation water disposal says average operating cost well risen 36 percent past year 15000 month mirroring industrywide struggle higher costs analysis firm ihs calculates report released monday income oil gas companies made capital spent fallen half since 2000 even oil prices increased recent price drop global crude prices add financial challenges said ihss daniel pratt boomtowns like williston still going strong hotels full restaurants like jundts packed tired roughnecks roads choked hulking oil field trucks drillers cut costs communities eventually feel havent noticed anything yet says bert anderson mayor crosby small town south canadian border oil particularly expensive produce oil stays current prices eventually impact says helms says states next twoyear budget may revised preliminary budget forecast based 90 barrel wall street considerable disagreement duration lower prices potential industry impact theres broad agreement least rate growth us slow goldman sachs analysts wrote last week opec countries unlikely curtail production nudge prices higher means us drillers instead bernstein researchs bob brackett estimates onethird us shale oil production uneconomic 80 per barrel result says producers us elsewhere cut back price quickly recover thomas driscoll barclays believes economics robust us shale regions prices 75 80 barrel expects rate us production growth slow doesnt think production would stop increasing unless longterm oil prices fall range 65 75 per barrel thats certainly would hurt nelson wood familys ties oil stretch back 1938 mother started business oil discovery set boom illinois since 2001 wood grown company five 30 employees 200 small wells illinois wells known stripper wells produce barrels oil per day comparison new well north dakota might produce 500 barrels per day big offshore oil platform might produce 200000 barrels per day wood suspended hiring reduced plans new wells next year four 10 says company wood energy mt vernon illinois still profitable overall 80 barrel things starting get tight 70 starts get place dont want says say small slowdown could upside local governments drilling regions straining keep demand new services infrastructure deal population increases new economic activity might even help drillers trouble finding enough workers equipment little bit slowdown give everyone chance take breath isnt bad thing says ben sheppard permian basin association midland texas industry white hot long fahey reported new york | 673 |
<p />
<p>With data breaches on the rise, cybersecurity stocks have become a major growth niche in the tech sector over the past few years. But over the past year, concerns about slower enterprise spending, lack of profitability at many companies, and lofty valuations have weighed down the entire sector. The PureFunds ISE Cyber Security ETF , which contains a basket of top cybersecurity stocks, has fallen more than 25% over the past 12 months.</p>
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<p>That slump has created some lucrative buying opportunities for investors willing to stomach the volatility. But before jumping in, investors should understand ten key facts about the cybersecurity industry.</p>
<p>Image source: Getty Images.</p>
<p>1. 177 million personal records were exposed in data breaches in 2015, according to the Identity Theft Resource Center. That's double the 85.6 million records that were exposed in 2014.</p>
<p>2. 68.4% of those data breaches occurred in the healthcare sector. 19.2% occurred in the government, 9.1% occurred in the enterprise sector, 2.8% occurred in the financial sector, and 0.4% occurred in educational institutions.</p>
<p>3. The average global cost per stolen record was $154, according to study by IBM and Ponemon. The price wasconsiderably higher in the healthcare sector at $363. On average, companies lost $7.7 million per data breach lastyear.</p>
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<p>4. Nine common attacks are used in 96% ofdata breaches, according to Verizon's 2015 Data Breach Investigations Report. In order of frequency, the so-called "nefarious nine" are miscellaneous errors, crimeware, insider misuse, physical theft/loss, web app attacks, denial of service attacks, cyber espionage, point-of-sale intrusions, and payment card skimmers.</p>
<p>5. About 80% of threats originate externally. Companies like next-gen firewall provider Palo Alto Networks and threat prevention firms like FireEye set up perimeter defenses against these attacks. Bigger IT firms like IBM and Cisco are also bundling comparable solutions into their other hardware and software products.</p>
<p>FireEye's real-time cyber attack map. Image source: FireEye.</p>
<p>6. Other attacks originate internally from compromised accounts or disgruntled employees. CyberArk currently dominates this space with its privileged account management solutions. Its customers include 40% of the Fortune 100 and 17 of the 20 biggest banksin the world.</p>
<p>7. Attacks often go undiscovered for over 200 days, according to a study by FireEye's Mandiant division. That's why companies report data breaches long after they occurred, and why hackers have so much time to sell stolen credentials online.</p>
<p>8. Therefore, it wasn't surprising when a recent KPMG study found that 50% of CEOs of companies with over $500 million in annual revenue didn't feel prepared for a cyber attack. Massive data breaches at Target, Anthem, and even the IRS have likely shaken their confidence and prompted them to invest in more robust cybersecurity measures.</p>
<p>9. That's why the global cybersecurity market could grow from$106.3 billion in 2015 to $170.2 billion by 2020, according to research firm Markets and Markets. This means that although some cybersecurity stocks look too hot to handle, they could still have plenty of room to grow. Demand is clearly rising -- Palo Alto Networks, for example, has been posting around 50% year-over-year sales growth over the past few quarters.</p>
<p>10. There are currently 458 cybersecurity start-ups listed onAngellist with an average valuation of $4.9 million. This means that over $2.2 billion in venture capital has been invested in the industry.</p>
<p>Investors will likely notice that high multiples and low profitability are common across the cybersecurity sector. That's because many companies are still in an early growth phase, prioritizing revenue growth over profitability.</p>
<p>Investors should also note that smaller firms with smaller portfolios of products could be acquired or undercut by diversified tech giants like Cisco or IBM. The former would be good for investors, but the latter could be tough to counter. Therefore, investors should fully understand what a cybersecurity firm has to offer before making a play on rising data breaches.</p>
<p>The article <a href="http://www.fool.com/investing/2016/06/25/10-stats-about-cybersecurity-that-will-alarm-you.aspx" type="external">10 Stats About Cybersecurity That Will Alarm You Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFSunLion/info.aspx?source=eptfxblnk0000004" type="external">Leo Sun Opens a New Window.</a> owns shares of CyberArk Software. The Motley Fool owns shares of and recommends FireEye and Verizon Communications. The Motley Fool recommends Anthem, Cisco Systems, CyberArk Software, and Palo Alto Networks. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | data breaches rise cybersecurity stocks become major growth niche tech sector past years past year concerns slower enterprise spending lack profitability many companies lofty valuations weighed entire sector purefunds ise cyber security etf contains basket top cybersecurity stocks fallen 25 past 12 months continue reading slump created lucrative buying opportunities investors willing stomach volatility jumping investors understand ten key facts cybersecurity industry image source getty images 1 177 million personal records exposed data breaches 2015 according identity theft resource center thats double 856 million records exposed 2014 2 684 data breaches occurred healthcare sector 192 occurred government 91 occurred enterprise sector 28 occurred financial sector 04 occurred educational institutions 3 average global cost per stolen record 154 according study ibm ponemon price wasconsiderably higher healthcare sector 363 average companies lost 77 million per data breach lastyear advertisement 4 nine common attacks used 96 ofdata breaches according verizons 2015 data breach investigations report order frequency socalled nefarious nine miscellaneous errors crimeware insider misuse physical theftloss web app attacks denial service attacks cyber espionage pointofsale intrusions payment card skimmers 5 80 threats originate externally companies like nextgen firewall provider palo alto networks threat prevention firms like fireeye set perimeter defenses attacks bigger firms like ibm cisco also bundling comparable solutions hardware software products fireeyes realtime cyber attack map image source fireeye 6 attacks originate internally compromised accounts disgruntled employees cyberark currently dominates space privileged account management solutions customers include 40 fortune 100 17 20 biggest banksin world 7 attacks often go undiscovered 200 days according study fireeyes mandiant division thats companies report data breaches long occurred hackers much time sell stolen credentials online 8 therefore wasnt surprising recent kpmg study found 50 ceos companies 500 million annual revenue didnt feel prepared cyber attack massive data breaches target anthem even irs likely shaken confidence prompted invest robust cybersecurity measures 9 thats global cybersecurity market could grow from1063 billion 2015 1702 billion 2020 according research firm markets markets means although cybersecurity stocks look hot handle could still plenty room grow demand clearly rising palo alto networks example posting around 50 yearoveryear sales growth past quarters 10 currently 458 cybersecurity startups listed onangellist average valuation 49 million means 22 billion venture capital invested industry investors likely notice high multiples low profitability common across cybersecurity sector thats many companies still early growth phase prioritizing revenue growth profitability investors also note smaller firms smaller portfolios products could acquired undercut diversified tech giants like cisco ibm former would good investors latter could tough counter therefore investors fully understand cybersecurity firm offer making play rising data breaches article 10 stats cybersecurity alarm opens new window originally appeared foolcom leo sun opens new window owns shares cyberark software motley fool owns shares recommends fireeye verizon communications motley fool recommends anthem cisco systems cyberark software palo alto networks try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 515 |
<p>If you want to cut the fat from your budget, look at your car costs to find plenty of ways to economize.</p>
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<p>Continue Reading Below</p>
<p>For many people, a&#160;car payment is one of their biggest monthly expenses. To reduce this cost, you could:</p>
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<p>Use an independent mechanic. Another money-saver is to skip the dealership’s service bay and use an independent mechanic&#160;or go to a quick-change oil center. But beware of upsells. Commonly recommended —&#160;but often unnecessary —&#160;extras are transmission flushes, brake jobs, air and cabin filter changes. <a type="external" href="" /></p>
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<p>Buy used.</p>
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<p>More from NerdWallet</p>
<p>The article Smart Ways to Save on Car Expenses originally appeared on NerdWallet.</p> | true | 0 | want cut fat budget look car costs find plenty ways economize use this160 total monthly car cost calculator opens new window see much youre really spending consider tips find savings continue reading many people a160car payment one biggest monthly expenses reduce cost could refinance car loan youre paying much interest credit improved likely able lower car payment refinancing car loan opens new window even cant get better rate extending loan term lower payments although long run youll pay interest downsize less expensive car car payments breaking bank sell car drive something fits budget wisely though might lose lot transition trading car convenient selling privately get best price advertise car classified sites autotrader ebay motors swap lease car lease payments burden try get someone take contract using sites like swapalease leasetrader course wont car longer escape high lease payments shop something affordable save car insurance advertisement use every discount available review policy make sure youre getting savings qualify 160gooddriver discounts home car discounts loyalty discounts savings certain occupations teachers engineers clean driving record order copy driving record dmv see violation points outstanding160tickets record clean make sure insurance company gives credit hopefully lower160rate drop collision coverage youve got clunker might time drop collision comprehensive insurance coverage pays damage vehicle increase deductible160our research found raising deductible 500 1000 saved 200 year average gas prices low several years theyre volatile knowing gassaving strategies means youll ready prices soar heres overview top gassavings picks change driving style tests160by edmundscom showed key major gas savings right foot 160your driving habits top offender rapid acceleration driving moderately instead aggressively example reduces fuel consumption 30 means 30 savings fuel costs buy wisely make sense drive across town save pennies per gallon instead use tool like160gasbuddy find good station thats along commute work tune car simple maintenance easily pay inflating tires proper level month saves gas reduces tire wear oil changes replacing air filter also improve fuel economy stop buying premium experts say theres advantage buying premium gas unless required car stated owners manual regular gas plenty detergents additives keep car running cleanly purchase gas sipper may worth ditching current ride fuel efficient car since itll take years make cost difference youre shopping new car put fuel economy top list musthaves taking good care car save money long run doesnt mean advantageous overservice vehicle perform routine maintenance follow cars scheduled maintenance listed owners manual whats required first 50000 miles driving oil changes tire rotations every 5000 miles cars keep copy schedule cars records easy reference use independent mechanic another moneysaver skip dealerships service bay use independent mechanic160or go quickchange oil center beware upsells commonly recommended 160but often unnecessary 160extras transmission flushes brake jobs air cabin filter changes us arent mechanics need leave troubleshooting trusted expert research really cut costs find good mechanic wordofmouth recommendations reviews sites yelpcom point good local mechanic specializing brand car although advantages taking car dealerships service department cost much research repair costs know whats wrong car use sites carmdcom estimate repair cost youll ready discuss estimate mechanic seems high ask using rebuilt aftermarket parts still seems high ask work done later date buy used look high resale values160figuring fiveyear cost vehicle via edmundscom kelley blue book help predict resale value buying cars hold value save money long run decide sell car youll find smart decision return money nerdwallet article smart ways save car expenses originally appeared nerdwallet | 562 |
<p><a href="" type="internal" />So now it seems the U.S. military will pick-up all the medical bills for <a href="" type="internal">Bowe Bergdahl</a> (too bad they do NOT do that for all our <a href="" type="internal">honorably serving veterans</a>). So now it seems that the only thing Bowe is suffering from is some ‘cognitive issues’ after five years of captivity, and that physically he is quite stable NOT on the verge of <a href="" type="internal">imminent death as claimed by the White House</a>. So now it seems that when search-and-rescue teams first went out to look for Bergdahl after&#160;he went missing that they were given orders NOT to bring him back alive, but were to <a href="" type="internal">shoot him on sight</a>, because command knew he was NOT only <a href="" type="internal">working with the Taliban</a> but that he would kill our people if given the chance.And so now it seems that even as more information comes to light everyday supporting the fact that Bowe Bergdahl did in indeed go AWOL…did indeed <a href="" type="internal">desert</a>…this administration…this president…&#160; continues to stand by its claim that they did the right thing by making a deal with terrorists but claiming the deal was made to bring peace to Afghanistan.&#160;And if you believe that…to put it as kindly as I can…you are simply clueless or suffering from kool-aid overload.&#160; <a href="https://i2.wp.com/4.bp.blogspot.com/-S7joNqGCGmA/U5EbaU8lywI/AAAAAAAAMjk/Qp3RFa7S8yQ/s1600/terrorists+being+welcomed+back.jpg?resize=200%2C136" type="external" />And <a href="" type="internal">negotiating with terrorists</a>…caving to terrorist demands actually…got us what…it got us a traitor back as the enemy got to welcome back into their fold <a href="" type="internal">five of the world’s most cold-blooded hard- core murdering terrorists</a>…terrorists listed by the U(seless) N(ations) as perpetrators of war crimes …terrorists now biding their time in <a href="" type="internal">Qatar</a> until they can freely kill more of our troops yet again.&#160;And Obama still claims we got the better part of the deal because he left NO man behind…I say this was more like a deal made in hell…and one for which we’ll be paying the price in American blood for many years to come.&#160;And now out comes the devil’s minions…ooops…I mean Obama’s minions…to spew out the words they’ve been instructed to say…minions led off by an Obama puppet in the guise of Susan ‘It Was A YouTube Video’ Rice.&#160;The day after Bergdahl’s release, and once again making the rounds of the Sunday talk-show circuits…NOT learning a lesson after her Benghazi fiasco I guess…Rice was asked if Obama’s deal of trading terrorists to get back one of own back meant that the U.S. could NO longer say that it does NOT negotiate with terrorists…and her response,“I wouldn’t put it that way.”&#160;</p>
<p>Excuse me, but how would you put it for that is exactly what was done…in fact, negotiating is NOT the right word…selling us out to the enemy’s demands is more precise.&#160;And in an official statement, muslim supporting Defense Secretary <a href="" type="internal">Chuck Hagel</a>, in defense and in support of Rice’s words…had the audacity to say,&#160;“We didn’t negotiate with terrorists,”totally ignoring the simple fact that this lopsided 5-for-1 exchange could start the ball rolling for future kidnappings of American soldiers… future kidnappings and beheadings of American soldiers if we do NOT acquiesce to their demands is more like it.&#160;Continuing on with the words,&#160;“In war, things are always dangerous and there are vulnerabilities… but our record, the United States of America, in dealing with terrorists and hunting down and finding terrorists, is pretty good,”&#160;Chuck Hagel refuses to accept the simple fact that when our troops lives are at stake ‘pretty good’ just does NOT cut it.&#160;And just two days ago, in a heated discussion with a Fox News reporter, U.S. State Department spokesperson Marie Harf had the unmitigated gall to claim that Bergdahl’s fellow soldiers…those who were in his unit and who knew him and his mind-set well…were NOT reliable sources in their accusations that Bergdahl deserted his post of his own free will.&#160;When directly asked,&#160;“Does the State Department consider Sergeant Bergdahl to be a deserter?”&#160;Harf’s answer was an unequivocal&#160;“NO.”&#160;Saying that,&#160;“… we are going to learn the facts about what happened here,”&#160;Harf’s regurgitating of the very set-in-stone ‘party loyal’ words set in motion…yet again…the act of diverting and deflecting attention off Obama…on whose shoulders this very act of acquiescing to the enemy’s demands truly lies.&#160; <a href="https://i0.wp.com/3.bp.blogspot.com/-I4NjH0J4Qgc/U5ELDr0iH9I/AAAAAAAAMi0/DnyuGb74j7U/s1600/punishment+for+sedition.jpg?resize=138%2C200" type="external" />And <a href="" type="internal">treason is what Barack HUSSEIN Obama must be charged with</a> as this man… this President of the United States…committed treason by the act of knowingly and willfully releasing known terrorists…known killers of American troops…as treason encompasses sedition as per 18 U.S.C. § 2388 : US Code – Section 2388: Activities affecting armed forces during war…as per (a)&#160;“Whoever, when the United States is at war, willfully makes or conveys false reports or false statements with intent to interfere with the operation or success of the military or naval forces of the United States or to promote the success of its enemies…”&#160;And that is exactly what this man has done…he has promoted the success of America’s enemies by releasing their leaders back into the fold to kill Americans again.&#160;Sedition as per 18 U.S.C. § 2381 : US Code – Section 2381: Treason.&#160;“Whoever, owing allegiance to the United States, levies war against them or adheres to their enemies, giving them aid and comfort within the United States or elsewhere, is guilty of treason and shall suffer death, or shall be imprisoned not less than five years and fined under this title but not less than $10,000; and shall be incapable of holding any office under the United States.”&#160; <a href="https://i2.wp.com/4.bp.blogspot.com/-oVbH2r-anhU/U5EhhBDVdlI/AAAAAAAAMkU/No7ioD7pNik/s1600/oath+of+office.jpg?resize=200%2C150" type="external" />And while we know Barack HUSSEIN Obama’s allegiance is NOT to the United States, he did take an oath of office to&#160;“…faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States.”&#160;But how can one protect and defend the Constitution when one has given ‘aid and comfort’ to the enemy…when one has ‘aided and abetted’ the enemy…one simply cannot, therefore, one is in direct violation of the very oath one took in full public view.&#160;So those in this administration and those who are helping to <a href="" type="internal">circle the wagons</a> around this most miserable of presidents…those folks need to take a step back, take a deep breath, and accept the fact that this president…one Barack HUSSEIN Obama…is guilty of acts of treason against the United States of America…most specifically concerning acts ‘aiding and abetting’ the enemy in a time of war.&#160;And that is something ‘We the People’ must demand that he be charged with… demand he be tried for…and demand when found guilty that he be punished for…period.**************************************************************** <a href="https://i2.wp.com/3.bp.blogspot.com/-waPRXT_HG-s/U5EgFpU5riI/AAAAAAAAMkI/sZgRARaAVjo/s1600/friday+fume+small.jpg?w=640" type="external" />As many of you know my RIGHT SIDE PATRIOT partner and friend, Craig Andresen, is in face book jail until June 26th, so I have been posting his articles for him.&#160; To read his Friday Fume…and rest assured this one will have you LOL…please click this link:&#160; <a href="http://www.thenationalpatriot.com/2014/06/05/friday-fume-125/" type="external">http://www.thenationalpatriot.com/2014/06/05/friday-fume-125/</a>&#160;to go directly to his blog The National Patriot.</p>
<p>Diane Sori is the Editor of <a href="http://thepatriotfactor.blogspot.com/2014/06/op-ed-treason-sedition-and-barack.html" type="external">The Patriot Factor</a>.</p>
<p />
<p /> | true | 0 | seems us military pickup medical bills bowe bergdahl bad honorably serving veterans seems thing bowe suffering cognitive issues five years captivity physically quite stable verge imminent death claimed white house seems searchandrescue teams first went look bergdahl after160he went missing given orders bring back alive shoot sight command knew working taliban would kill people given chanceand seems even information comes light everyday supporting fact bowe bergdahl indeed go awoldid indeed desertthis administrationthis president160 continues stand claim right thing making deal terrorists claiming deal made bring peace afghanistan160and believe thatto put kindly canyou simply clueless suffering koolaid overload160 negotiating terroristscaving terrorist demands actuallygot us whatit got us traitor back enemy got welcome back fold five worlds coldblooded hard core murdering terroriststerrorists listed useless nations perpetrators war crimes terrorists biding time qatar freely kill troops yet again160and obama still claims got better part deal left man behindi say like deal made helland one well paying price american blood many years come160and comes devils minionsooopsi mean obamas minionsto spew words theyve instructed sayminions led obama puppet guise susan youtube video rice160the day bergdahls release making rounds sunday talkshow circuitsnot learning lesson benghazi fiasco guessrice asked obamas deal trading terrorists get back one back meant us could longer say negotiate terroristsand responsei wouldnt put way160 excuse would put exactly donein fact negotiating right wordselling us enemys demands precise160and official statement muslim supporting defense secretary chuck hagel defense support rices wordshad audacity say160we didnt negotiate terroriststotally ignoring simple fact lopsided 5for1 exchange could start ball rolling future kidnappings american soldiers future kidnappings beheadings american soldiers acquiesce demands like it160continuing words160in war things always dangerous vulnerabilities record united states america dealing terrorists hunting finding terrorists pretty good160chuck hagel refuses accept simple fact troops lives stake pretty good cut it160and two days ago heated discussion fox news reporter us state department spokesperson marie harf unmitigated gall claim bergdahls fellow soldiersthose unit knew mindset wellwere reliable sources accusations bergdahl deserted post free will160when directly asked160does state department consider sergeant bergdahl deserter160harfs answer unequivocal160no160saying that160 going learn facts happened here160harfs regurgitating setinstone party loyal words set motionyet againthe act diverting deflecting attention obamaon whose shoulders act acquiescing enemys demands truly lies160 treason barack hussein obama must charged man president united statescommitted treason act knowingly willfully releasing known terroristsknown killers american troopsas treason encompasses sedition per 18 usc 2388 us code section 2388 activities affecting armed forces waras per a160whoever united states war willfully makes conveys false reports false statements intent interfere operation success military naval forces united states promote success enemies160and exactly man donehe promoted success americas enemies releasing leaders back fold kill americans again160sedition per 18 usc 2381 us code section 2381 treason160whoever owing allegiance united states levies war adheres enemies giving aid comfort within united states elsewhere guilty treason shall suffer death shall imprisoned less five years fined title less 10000 shall incapable holding office united states160 know barack hussein obamas allegiance united states take oath office to160faithfully execute office president united states best ability preserve protect defend constitution united states160but one protect defend constitution one given aid comfort enemywhen one aided abetted enemyone simply therefore one direct violation oath one took full public view160so administration helping circle wagons around miserable presidentsthose folks need take step back take deep breath accept fact presidentone barack hussein obamais guilty acts treason united states americamost specifically concerning acts aiding abetting enemy time war160and something people must demand charged demand tried forand demand found guilty punished forperiod many know right side patriot partner friend craig andresen face book jail june 26th posting articles him160 read friday fumeand rest assured one lolplease click link160 httpwwwthenationalpatriotcom20140605fridayfume125160to go directly blog national patriot diane sori editor patriot factor | 613 |
<p><a href="//videos/37/64842" type="external" /></p>
<p>RUSH: Here’s Robert in Germantown, Maryland. It’s great to have you on the program, sir. Hello.</p>
<p>CALLER: (garbled connection) Rush, how are you, sir? Long-time listener. I can’t even believe I’m talking to you after all these years. Live long and prosper and all the other good things that go with it.</p>
<p>RUSH: Thank you, sir.</p>
<p>CALLER: Yeah, I’m calling you again from the People’s Republic of Maryland — Montgomery County, Maryland. I was wondering. The previous caller has taken away a little bit of what I wanted to talk about with how the Republicans have put themselves in a position where their agenda is being quashed by the media, and not taking advantage of the nuclear option as the Democrats did — as you had mentioned — for the pushing of Obamacare. But I think a bigger picture is this:</p>
<p>You know, you look at what Janet Napolitano did before she left and Fast and Furious and the bullets, and here he just signed a… The government bought up all that ammo. I can’t remember the exact caliber. Now on top of it, he signed yesterday an executive order to ban that same type of ammunition. So basically it seems, if you look at puzzle that these people have put out there — which is mostly confusing because there’s a new item every day — I think that’s why no one can really get a grip on any of this.</p>
<p>RUSH: Because they never stop? There’s no time to react and adjust because there’s something new every day, you mean?</p>
<p>CALLER: Yeah. It’s just craziness. (chuckles) We hear… You know, talking about what’s going on in the Middle East right now, not to mention Vladimir. Remember what you had said and what we all heard? You know, Obama will have “more flexibility after the election.” What kind of flexibility was it when we keep on giving away everything but the kitchen sink and getting nothing in return?</p>
<p>RUSH: Well, let me try to explain why. This is a good observation here. It’s one that we have made on previous occasions in many and varied different ways. We had a caller last week named Vinny from Queens. There’s about 10 of those. There’s 10 guys, 10 Vinnies. They’re from Queens; the Bronx; Camden, New Jersey, you name it. They rotate calling in here. Vinny wasn’t able to hang on, but he was frustrated. He wanted to disagree with me.</p>
<p>He thinks it is time to panic. He thinks it is over, and one of the things he was going to say is, “No matter what we come up with, they’ve got an answer for it. No matter what we do, no matter what trick we try to play, no matter what way we try to prevail, they’ve got an answer for it.” I’m gonna tell you why this perception exists, Vinny’s perception. I’m gonna tell you why it is, and I’m sure a lot of people probably in frustration agree with that. The reason is very simple.</p>
<p>It can be found in the phenomenon known as “ideology.”</p>
<p>Say what you want about them, the liberals are committed to implementing their agenda, come hell or high water. Their agenda is pure ideology. They are driven by it. They are devoted to it, committed to it. It is their religion. It is their life. As you well know, every liberal demands that whatever his pet issue is, you either agree or be silenced. If it’s behavior, you either behave doing the same thing they do and the way they demand or you get punished. Militant vegetarians are not content to let you have a Big Mac.</p>
<p>You are going to be excoriated for doing so. McDonald’s is gonna be excoriated for providing them. The beef industry is gonna be excoriated for destroying the planet. If you say the wrong things? Say you’re global warming “denier,” they set out to destroy you! There’s a member of the House, a Democrat, who has sent letters to seven universities demanding that those universities explain the funding for any professors on campus who “deny” climate change.</p>
<p>This is an inquisition!</p>
<p>Never mind the fact that every liberal scientist promoting global warming is bought and paid for with this grant and that grant and those grants over there. It is their source of living. They found a global warming denier who had happened to take a grant donation from an oil company, and this member of Congress, Raul Grijalva or something like that, got on his case. Remember, they’re in the minority in the House. The Democrats are in the minority!</p>
<p>This guy gets on his high horse and he sends letters out to seven universities demanding the universities do an investigation and reveal all sources of income for every professor who is a “global warming denier.” Now, this is ideology. They are committed to it. They are driven by it. They are devoted to it; they are absorbed by it. It is the reason they get out of bed every day. It is the reason they hate going to sleep every night.</p>
<p>They do not want to take a moment off! They are constantly doing nothing but conspiring, meeting, talking, planning, writing, teaching, you name it, their agenda, all based on their ideology of extreme madcap liberalism/socialism. On the other side, you have the Republican Party, who is what? The Republican Party does not have an agenda that you can identify, and the Republican Party has done its best to abandon the competing ideology to liberalism, and that would be conservatism.</p>
<p>The Republican Party is attempting to say that the foremost practitioner and the biggest success story of conservatism, Ronald Reagan, is passe! The Republican Party is trying to say, “The era of Reagan is over.” Do you ever hear the Democrats say the era of FDR is over? The era of JFK? The era of LBJ is over. Do you ever hear them say, “The era of the Great Society is over and we must modernize our thinking”? You never hear them say that.</p>
<p>The Republicans undercut their own agenda, and they do not have an ideology, folks. That’s why the left has an answer for everything we do, because we’re not even competing against them at that level. The Republican objectives are totally different than the Democrat objectives. The Democrat objective in winning office is to wield power, to implement their agenda, to silence their critics, to do away with their critics, to promote their friends, to use the federal Treasury to fund their efforts and to defund the efforts of the opposition.</p>
<p>The Republican Party, this may as well be Greek to them. There’s no way. This is not how they view the world. They certainly eschew conservatism. They have no agenda; they have no ideology. There is nothing competing with liberalism. There’s not even a fight ideologically going on! The Republican desire to win elections is not rooted in advancing any kind of an agenda, as we see now. They’re not trying to stop amnesty. They’re halfheartedly trying to stop Obamacare.</p>
<p>There is no competing ideology within the opposition party.</p>
<p>It is in the Tea Party, it is with grassroots Americans, it is with several governors. But in terms of the national Republican Party, there is no ideological driving force behind their purpose. If there were, this would be an entirely different landscape. If there were, this would be an entirely different ballgame. If there were committed conservatives who knew it, loved it, understood it, and could articulate it, the Democrats would have a much tougher time getting passed what they do.</p>
<p>They would have a much tougher time getting public support for their ideas. But conservatism isn’t even on the field, and that’s why it appears we don’t have an answer. You and I do. The Republican Party doesn’t. They want to win so they can have committee chairmanships in the Senate. You say, “What good is that?” Well, that’s power, folks. That’s in charge of the money. The Republican desire to win, when they articulate it, is rooted in what? Stopping Obama, maybe?</p>
<p>They didn’t even say that during the most recent midterm election. They didn’t even have an announced agenda! Individual Republican candidates did, and the number one thing they claimed they were gonna stop was Obamacare. (Number two was amnesty, but that didn’t get very far.) There’s no alternative ideology competing with liberalism, in politics. There is here on talk radio. There is occasionally at Fox News. There is in the blogosphere. Conservatism is robust. It is alive and well, and it is thriving.</p>
<p>Except in the political arena.</p>
<p>I’m talking about on a national party-wide basis. So if the left is totally driven by its ideology, and it’s dominated by it… I mean, that’s all they care about. Folks, you and I get up and wanna go play golf, or we’ll go to a ballgame or family get-together, picnic. These people, every waking moment is devoted to two things: Advancing their agenda and destroying ours. If they ever do go to a ballgame, that’s what they’re talking about. They’re not watching the game.</p>
<p>That is their recreation. It’s their religion. It’s their recreation. It’s their avocation. It’s their vocation. It is everything about them. It’s their identity. It’s not that they’re absorbed about it or immersed in it. It is what they are, and that’s why they seem to have an answer for everything we do, because there is really no competing ideology. This is why for a couple of years here I’ve been saying that if we could convince more and more low-information Americans and educated them about ideology, if everybody understood…</p>
<p>By the way, 1988 — not that long ago, 26 years, a generation — one word and one picture defeated Michael Dukakis. Dukakis was running for the presidency opposed to George H. W. Bush, who was the sitting vice president and was promising to be the third term of Ronald. So he was promising more conservatism. There were two things that defeated Michael Dukakis. One was the word “liberal.” All it took 26 years ago to defeat a Democrat in a presidential race was to correctly identify them as a liberal.</p>
<p>The American people wanted no part of it. The other thing that did him in is when he posed as Beetle Bailey in a tank wearing an army helmet. He looked like a young fool. He looked the antithesis of presidential. It was a laugh riot. That coupled with… Well, there’s a third thing. During a debate Bernard Shaw (State-Controlled Media of the day at CNN), asked Dukakis if his wife were raped, what he would do.</p>
<p>Dukakis actually said something (I’m paraphrasing) along the lines, “Well, Bernard, that’d require investigation of all the facts, and we would make sure the civil rights of everybody involved was protected.” He gave a clinical, dryball, liberal policy wonk answer to the proposition, “What would you do if your wife was raped?” Not one additional shred of emotion. He was nothing more than a clinical liberal robot. Those are the three things that did him in.</p>
<p>Today, identifying somebody as a liberal does not harm them. They are bigger jokes about the… They’re actually dismantling the military rather than Dukakis running around looking like Beetle Bailey, and they have convinced everybody that rape is happening every day on college campus with the War on Women. But 26 years ago, the word “liberal” could kill a presidential candidate on the Democrat side. The Republicans are afraid to even use that word now.</p>
<p>“Oh, it’s too critical, maybe mean-spirited,” or what have you.</p> | true | 0 | rush heres robert germantown maryland great program sir hello caller garbled connection rush sir longtime listener cant even believe im talking years live long prosper good things go rush thank sir caller yeah im calling peoples republic maryland montgomery county maryland wondering previous caller taken away little bit wanted talk republicans put position agenda quashed media taking advantage nuclear option democrats mentioned pushing obamacare think bigger picture know look janet napolitano left fast furious bullets signed government bought ammo cant remember exact caliber top signed yesterday executive order ban type ammunition basically seems look puzzle people put mostly confusing theres new item every day think thats one really get grip rush never stop theres time react adjust theres something new every day mean caller yeah craziness chuckles hear know talking whats going middle east right mention vladimir remember said heard know obama flexibility election kind flexibility keep giving away everything kitchen sink getting nothing return rush well let try explain good observation one made previous occasions many varied different ways caller last week named vinny queens theres 10 theres 10 guys 10 vinnies theyre queens bronx camden new jersey name rotate calling vinny wasnt able hang frustrated wanted disagree thinks time panic thinks one things going say matter come theyve got answer matter matter trick try play matter way try prevail theyve got answer im gon na tell perception exists vinnys perception im gon na tell im sure lot people probably frustration agree reason simple found phenomenon known ideology say want liberals committed implementing agenda come hell high water agenda pure ideology driven devoted committed religion life well know every liberal demands whatever pet issue either agree silenced behavior either behave thing way demand get punished militant vegetarians content let big mac going excoriated mcdonalds gon na excoriated providing beef industry gon na excoriated destroying planet say wrong things say youre global warming denier set destroy theres member house democrat sent letters seven universities demanding universities explain funding professors campus deny climate change inquisition never mind fact every liberal scientist promoting global warming bought paid grant grant grants source living found global warming denier happened take grant donation oil company member congress raul grijalva something like got case remember theyre minority house democrats minority guy gets high horse sends letters seven universities demanding universities investigation reveal sources income every professor global warming denier ideology committed driven devoted absorbed reason get bed every day reason hate going sleep every night want take moment constantly nothing conspiring meeting talking planning writing teaching name agenda based ideology extreme madcap liberalismsocialism side republican party republican party agenda identify republican party done best abandon competing ideology liberalism would conservatism republican party attempting say foremost practitioner biggest success story conservatism ronald reagan passe republican party trying say era reagan ever hear democrats say era fdr era jfk era lbj ever hear say era great society must modernize thinking never hear say republicans undercut agenda ideology folks thats left answer everything even competing level republican objectives totally different democrat objectives democrat objective winning office wield power implement agenda silence critics away critics promote friends use federal treasury fund efforts defund efforts opposition republican party may well greek theres way view world certainly eschew conservatism agenda ideology nothing competing liberalism theres even fight ideologically going republican desire win elections rooted advancing kind agenda see theyre trying stop amnesty theyre halfheartedly trying stop obamacare competing ideology within opposition party tea party grassroots americans several governors terms national republican party ideological driving force behind purpose would entirely different landscape would entirely different ballgame committed conservatives knew loved understood could articulate democrats would much tougher time getting passed would much tougher time getting public support ideas conservatism isnt even field thats appears dont answer republican party doesnt want win committee chairmanships senate say good well thats power folks thats charge money republican desire win articulate rooted stopping obama maybe didnt even say recent midterm election didnt even announced agenda individual republican candidates number one thing claimed gon na stop obamacare number two amnesty didnt get far theres alternative ideology competing liberalism politics talk radio occasionally fox news blogosphere conservatism robust alive well thriving except political arena im talking national partywide basis left totally driven ideology dominated mean thats care folks get wan na go play golf well go ballgame family gettogether picnic people every waking moment devoted two things advancing agenda destroying ever go ballgame thats theyre talking theyre watching game recreation religion recreation avocation vocation everything identity theyre absorbed immersed thats seem answer everything really competing ideology couple years ive saying could convince lowinformation americans educated ideology everybody understood way 1988 long ago 26 years generation one word one picture defeated michael dukakis dukakis running presidency opposed george h w bush sitting vice president promising third term ronald promising conservatism two things defeated michael dukakis one word liberal took 26 years ago defeat democrat presidential race correctly identify liberal american people wanted part thing posed beetle bailey tank wearing army helmet looked like young fool looked antithesis presidential laugh riot coupled well theres third thing debate bernard shaw statecontrolled media day cnn asked dukakis wife raped would dukakis actually said something im paraphrasing along lines well bernard thatd require investigation facts would make sure civil rights everybody involved protected gave clinical dryball liberal policy wonk answer proposition would wife raped one additional shred emotion nothing clinical liberal robot three things today identifying somebody liberal harm bigger jokes theyre actually dismantling military rather dukakis running around looking like beetle bailey convinced everybody rape happening every day college campus war women 26 years ago word liberal could kill presidential candidate democrat side republicans afraid even use word oh critical maybe meanspirited | 949 |
<p>President Donald Trump urged Senate Majority Leader Mitch McConnell Thursday to "get back to work" on health care, a tax overhaul and infrastructure legislation. He also demurred when asked if Mr. McConnell should stay on as GOP leader.</p>
<p>The comments by Mr. Trump marked the second consecutive day of public antagonism from the president directed at the Republican leader in the Senate over a stalled agenda. No major legislation has passed after more than six months of unified GOP control of the government in Washington.</p>
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<p>In brief remarks to reporters, Mr. Trump said the failure of Congress to advance a health-care bill is a "disgrace" and the president refused to answer a question about whether Mr. McConnell of Kentucky should step down as leader in the Senate.</p>
<p>"If he doesn't get repeal and replace done, if he doesn't get taxes done, meaning cuts and reform, and if he doesn't get a very easy one to get done -- infrastructure -- if he doesn't get that done, then you should ask me that question," Mr. Trump said about Mr. McConnell.</p>
<p>The strained relations between Mr. Trump and his own party's Senate caucus have no equal in recent political history, several political observers said. In addition to criticizing his colleagues, the president's political allies have put money behind ad campaigns targeting vulnerable GOP senators up for re-election next year.</p>
<p>"There's always going to be infighting between Capitol Hill and the White House or between the House and the Senate," said Doug Heye, a veteran Republican strategist who has worked on both Capitol Hill and in the George W. Bush administration. "What's different is how these fights are spilling out in public."</p>
<p>The tension comes at a time when the White House is looking to push major infrastructure and tax bills, and lawmakers will have to deal with a number of fiscal and spending issues in the fall.</p>
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<p>Congress must act by Sept. 29 to address the nation's debt ceiling, and Sept. 30 is the end of the fiscal year, and thus the deadline for Congress to authorize legislation to keep the government functioning when the new fiscal year begins Oct. 1.</p>
<p>Forecasters in The Wall Street Journal's monthly survey of economists see on average a 22% chance of the government shutting down at the end of next month and a 17% chance that the U.S. Treasury will, at least temporarily, skip making payments on obligations such as government payroll or issuing Social Security checks to manage looming funding challenges.</p>
<p>Similar showdowns have rocked Wall Street in recent years. Although calamities were averted, that's no guarantee of a clear path now.</p>
<p>"The annual games of Debt Ceiling Roulette and Federal Budget Chicken pose greater risks than ever this year," said Amy Crews Cutts, chief economist of the credit reporting agency Equifax.</p>
<p>Mr. McConnell, who is known for his discipline and taciturn political style, has largely avoided public conflicts with the president, preferring to focus on looking for ways to advance the broader Republican agenda through Congress. He has confined most of his criticism of Mr. Trump to the president's habit of stirring up controversy on Twitter, telling The Wall Street Journal in a February interview that the president's online habits made passing the GOP agenda more difficult.</p>
<p>The current public spat between the two men started after Mr. McConnell leveled a rare public criticism of Mr. Trump, saying at an event in Kentucky this week that the White House tried to impose "artificial deadlines" in the monthslong debate over health care that were "unrelated to the reality of the complexity of legislating."</p>
<p>"Our new president has of course not been in this line of work before and, I think, had excessive expectations about how quickly things happen in the democratic process," Mr. McConnell said.</p>
<p>Mr. McConnell and Mr. Trump spoke on the phone Wednesday evening and "health care was certainly discussed," according to the White House. "You can see the president's tweets, obviously there's some frustration, " said White House spokeswoman Sarah Sanders about the relationship between the two men.</p>
<p>Republican political observers said that Mr. Trump's presidency and legislative legacy is tied up with Mr. McConnell and House Speaker Paul Ryan (R., Wis.), all of whom will need to work together to get any agenda items through Congress.</p>
<p>"It's a highly unusual move and highly unproductive in terms of advancing the president agenda," said Ryan Williams, a GOP consultant, about the president's comments. "If he has a problem with what Sen. McConnell said, that's something that's best ironed out in private."</p>
<p>"The leader has spoken repeatedly about the path forward regarding Obamacare repeal and replace on the Senate floor, at media availabilities and in Kentucky," a spokesman for Mr. McConnell said. He declined to address the president's comments.</p>
<p>One of Mr. Trump's allies, Sen. Orrin Hatch of Utah, wrote on Twitter that Mr. McConnell "has been the best leader we've had in my time in the Senate, through very tough challenges. I fully support him."</p>
<p>Beyond Mr. McConnell, the president has criticized or antagonized other lawmakers who will be key votes in Congress. The GOP majority is small in the Senate, where there are 52 Republican to 48 Democratic-aligned lawmakers, so the defection of just three senators can spell defeat, as was the case in the health-care vote.</p>
<p>Sen. John McCain (R, Ariz.), a Vietnam veteran and former prisoner of war, cast one of the deciding votes against the health-care bill last month. Early in the presidential campaign, Mr. Trump antagonized Mr. McCain by saying in 2015 that "he's not a war hero" because he was captured by the North Vietnamese during the war.</p>
<p>In addition, White House allies have targeted Republican Sens. Dean Heller of Nevada and Jeff Flake of Arizona with negative ads; they represent two of the most vulnerable Republicans up for re-election in 2018. Mr. Trump has also publicly criticized Sen. Lisa Murkowski (R., Alaska), another senator who helped torpedo the health-care effort last month.</p>
<p>"I think what's baffling to so many Republicans is that the president has spent more time criticizing Republicans and has barely said a word about the ten Senate Democrats who are up for re-election in states that he won," said Brian Walsh, a Republican strategist who has worked on Senate races and on Capitol Hill.</p>
<p>--Natalie Andrews and Josh Zumbrun contributed to this article.</p>
<p>(END) Dow Jones Newswires</p>
<p>August 10, 2017 17:24 ET (21:24 GMT)</p> | true | 0 | president donald trump urged senate majority leader mitch mcconnell thursday get back work health care tax overhaul infrastructure legislation also demurred asked mr mcconnell stay gop leader comments mr trump marked second consecutive day public antagonism president directed republican leader senate stalled agenda major legislation passed six months unified gop control government washington continue reading brief remarks reporters mr trump said failure congress advance healthcare bill disgrace president refused answer question whether mr mcconnell kentucky step leader senate doesnt get repeal replace done doesnt get taxes done meaning cuts reform doesnt get easy one get done infrastructure doesnt get done ask question mr trump said mr mcconnell strained relations mr trump partys senate caucus equal recent political history several political observers said addition criticizing colleagues presidents political allies put money behind ad campaigns targeting vulnerable gop senators reelection next year theres always going infighting capitol hill white house house senate said doug heye veteran republican strategist worked capitol hill george w bush administration whats different fights spilling public tension comes time white house looking push major infrastructure tax bills lawmakers deal number fiscal spending issues fall advertisement congress must act sept 29 address nations debt ceiling sept 30 end fiscal year thus deadline congress authorize legislation keep government functioning new fiscal year begins oct 1 forecasters wall street journals monthly survey economists see average 22 chance government shutting end next month 17 chance us treasury least temporarily skip making payments obligations government payroll issuing social security checks manage looming funding challenges similar showdowns rocked wall street recent years although calamities averted thats guarantee clear path annual games debt ceiling roulette federal budget chicken pose greater risks ever year said amy crews cutts chief economist credit reporting agency equifax mr mcconnell known discipline taciturn political style largely avoided public conflicts president preferring focus looking ways advance broader republican agenda congress confined criticism mr trump presidents habit stirring controversy twitter telling wall street journal february interview presidents online habits made passing gop agenda difficult current public spat two men started mr mcconnell leveled rare public criticism mr trump saying event kentucky week white house tried impose artificial deadlines monthslong debate health care unrelated reality complexity legislating new president course line work think excessive expectations quickly things happen democratic process mr mcconnell said mr mcconnell mr trump spoke phone wednesday evening health care certainly discussed according white house see presidents tweets obviously theres frustration said white house spokeswoman sarah sanders relationship two men republican political observers said mr trumps presidency legislative legacy tied mr mcconnell house speaker paul ryan r wis need work together get agenda items congress highly unusual move highly unproductive terms advancing president agenda said ryan williams gop consultant presidents comments problem sen mcconnell said thats something thats best ironed private leader spoken repeatedly path forward regarding obamacare repeal replace senate floor media availabilities kentucky spokesman mr mcconnell said declined address presidents comments one mr trumps allies sen orrin hatch utah wrote twitter mr mcconnell best leader weve time senate tough challenges fully support beyond mr mcconnell president criticized antagonized lawmakers key votes congress gop majority small senate 52 republican 48 democraticaligned lawmakers defection three senators spell defeat case healthcare vote sen john mccain r ariz vietnam veteran former prisoner war cast one deciding votes healthcare bill last month early presidential campaign mr trump antagonized mr mccain saying 2015 hes war hero captured north vietnamese war addition white house allies targeted republican sens dean heller nevada jeff flake arizona negative ads represent two vulnerable republicans reelection 2018 mr trump also publicly criticized sen lisa murkowski r alaska another senator helped torpedo healthcare effort last month think whats baffling many republicans president spent time criticizing republicans barely said word ten senate democrats reelection states said brian walsh republican strategist worked senate races capitol hill natalie andrews josh zumbrun contributed article end dow jones newswires august 10 2017 1724 et 2124 gmt | 650 |
<p />
<p>The fourth open enrollment for health coverage under the Affordable Care Act opened Tuesday, a critical 90 days that the Obama administration hopes will boost participation and stabilize markets roiled by premium increases and insurer withdrawals.</p>
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<p>HealthCare.gov and state equivalents began taking applications Tuesday morning from people signing up for individual health coverage and learning about their eligibility for subsidies. This year is especially critical because consumers so far have been sicker and older than expected, which has led to higher-than-anticipated costs.</p>
<p>In response major insurers such as Aetna Inc. and UnitedHealth Group Inc. have pulled back from their sales of coverage under the law, leaving about 30% of counties with only one participating insurer. The Obama administration said last week premiums would increase by an average of 25% across the roughly three dozen states that use HealthCare.gov; in many states the market leader is raising rates by a far greater average.</p>
<p>Increased enrollment from younger, healthier people would create a chance for insurers to regain their footing; without it, they will likely reach a point of no return in which they continue to raise rates and further deter all but the neediest of customers.</p>
<p>Administration officials have a twofold goal this year. They want to boost sign-ups of new people. They also want to attract hundreds of thousands of people whose plans are being canceled to come back during open enrollment to pick a new policy.</p>
<p>On Tuesday, Health and Human Services Secretary Sylvia Mathews Burwell spoke with radio DJs in Charlotte, N.C., Dallas, Philadelphia and San Antonio -- all markets targeted for special outreach. She is also planning interviews with Hispanic-focused media outlets such as Univision Communications Inc. and Telemundo and called into radio shows with a high number of African-American listeners.</p>
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<p>The administration is banking on television ads, direct mail and targeted outreach in cities with a high number of younger adults to help boost sign-ups. About 10.7 million people who are eligible for exchange coverage are still uninsured, according to Health and Human Services. Forty % of them are 18 to 34 years old.</p>
<p>Around the country, enrollment activists are preparing to help people who have coverage shop around for plans that can shield them from premium increases or replace plans that have been canceled. Open enrollment Tuesday was to include events where consumers can get help signing up or attend informational sessions in places like the library in Edina, Minn. and a kickoff event at a sports stadium in Las Vegas.</p>
<p>In California, 800 stores have hung banners or signs promoting the state exchange. Covered California Executive Director Peter Lee said people were signing up but that they expect a bigger uptick closer to key deadlines.</p>
<p>"We're not doing a major launch and waiting until after the election," said Mr. Lee, who spent the morning talking with Chinese and Korean media about open enrollment. "We don't want it to get lost in the noise."</p>
<p>Community groups have been at the forefront of the sign-up drive since the law launched in fall 2013, at first because the administration had limited resources for outreach work, and later because research has indicated they are the most effective at doing it. But official funding for such efforts remains scant and insurance brokers have seen their commissions for signing up people diminish, further cutting into the ranks of those working on the sign-up effort.</p>
<p>Federal officials say they have found new and more efficient ways to reach uninsured people, including, for example, joint efforts with public agencies, such as Philadelphia Gas Works and the Chicago Housing Authority, to contact users about enrollment deadlines.</p>
<p>But they are making these efforts in the final stretch of the election season in which Republican candidates up and down the ticket have been rallying around the premium increases as a sign of the law's failure. The issue has provided a late and unifying boost to GOP nominees from presidential candidate Donald Trump to incumbent senators such as John McCain in Arizona .</p>
<p>Democratic nominee Hillary Clinton has largely talked about the need for changes to the law, as an alternative to repealing it.</p>
<p>Open enrollment runs through Jan. 31, 11 days into the new president's administration. Individuals who lost coverage due to the cancellation of a plan will be considered eligible for a special enrollment that lets them sign up for coverage as late as March 1.</p>
<p>An estimated 13.8 million people are expected to have selected a plan by the end of open enrollment, an increase of 1.1 million compared with the end of 2016 open enrollment.</p>
<p>"This year, the vast majority of consumers will qualify for tax credits that help keep coverage affordable, and it's easier than ever to shop around and compare options," Ms. Burwell said. "As we sound today's opening bell, let's also take stock of the historic gains in coverage we've made as a country, and work together to continue that progress."</p>
<p>Republicans opposed to the health law used the open enrollment as a chance to criticize the ACA and advocate for other alternatives. House Speaker Paul Ryan (R., Wis.) said the premium increases are a sign the law isn't working.</p>
<p>"For far too many Americans, Obamacare open enrollment means it's open season on their wallets," he said in a statement.</p>
<p>At a campaign rally for GOP presidential nominee Donald Trump and vice presidential nominee Mike Pence, several Republican members of Congress who have also worked as medical providers took to the lectern to rail against the law, citing specific premium increases in each of their states.</p>
<p>"They gave us a new crisis, and that crisis is called Obamacare," said Rep. Michael Burgess, of Texas, a former OBGYN.</p>
<p>Write to Stephanie Armour at [email protected] and Louise Radnofsky at [email protected]</p> | true | 0 | fourth open enrollment health coverage affordable care act opened tuesday critical 90 days obama administration hopes boost participation stabilize markets roiled premium increases insurer withdrawals continue reading healthcaregov state equivalents began taking applications tuesday morning people signing individual health coverage learning eligibility subsidies year especially critical consumers far sicker older expected led higherthananticipated costs response major insurers aetna inc unitedhealth group inc pulled back sales coverage law leaving 30 counties one participating insurer obama administration said last week premiums would increase average 25 across roughly three dozen states use healthcaregov many states market leader raising rates far greater average increased enrollment younger healthier people would create chance insurers regain footing without likely reach point return continue raise rates deter neediest customers administration officials twofold goal year want boost signups new people also want attract hundreds thousands people whose plans canceled come back open enrollment pick new policy tuesday health human services secretary sylvia mathews burwell spoke radio djs charlotte nc dallas philadelphia san antonio markets targeted special outreach also planning interviews hispanicfocused media outlets univision communications inc telemundo called radio shows high number africanamerican listeners advertisement administration banking television ads direct mail targeted outreach cities high number younger adults help boost signups 107 million people eligible exchange coverage still uninsured according health human services forty 18 34 years old around country enrollment activists preparing help people coverage shop around plans shield premium increases replace plans canceled open enrollment tuesday include events consumers get help signing attend informational sessions places like library edina minn kickoff event sports stadium las vegas california 800 stores hung banners signs promoting state exchange covered california executive director peter lee said people signing expect bigger uptick closer key deadlines major launch waiting election said mr lee spent morning talking chinese korean media open enrollment dont want get lost noise community groups forefront signup drive since law launched fall 2013 first administration limited resources outreach work later research indicated effective official funding efforts remains scant insurance brokers seen commissions signing people diminish cutting ranks working signup effort federal officials say found new efficient ways reach uninsured people including example joint efforts public agencies philadelphia gas works chicago housing authority contact users enrollment deadlines making efforts final stretch election season republican candidates ticket rallying around premium increases sign laws failure issue provided late unifying boost gop nominees presidential candidate donald trump incumbent senators john mccain arizona democratic nominee hillary clinton largely talked need changes law alternative repealing open enrollment runs jan 31 11 days new presidents administration individuals lost coverage due cancellation plan considered eligible special enrollment lets sign coverage late march 1 estimated 138 million people expected selected plan end open enrollment increase 11 million compared end 2016 open enrollment year vast majority consumers qualify tax credits help keep coverage affordable easier ever shop around compare options ms burwell said sound todays opening bell lets also take stock historic gains coverage weve made country work together continue progress republicans opposed health law used open enrollment chance criticize aca advocate alternatives house speaker paul ryan r wis said premium increases sign law isnt working far many americans obamacare open enrollment means open season wallets said statement campaign rally gop presidential nominee donald trump vice presidential nominee mike pence several republican members congress also worked medical providers took lectern rail law citing specific premium increases states gave us new crisis crisis called obamacare said rep michael burgess texas former obgyn write stephanie armour stephaniearmourwsjcom louise radnofsky louiseradnofskywsjcom | 578 |
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<p>The "fiscal cliff" is only days away and efforts to avert it are making little progress, with some U.S. lawmakers predicting the tax increases and federal spending cuts involved will start taking hold in January, unless a deal comes together very quickly.</p>
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<p>If these jolts to the economy are allowed to occur, a recession could follow, economists have forecast.</p>
<p>Consumer spending power suddenly would be reduced if the nation tumbles over the "cliff." The U.S. government's annual tax take would rise by $500 billion, significantly lowering the federal budget deficit, but at a high economic price.</p>
<p>On average, each U.S. household's tax bill would rise by $3,500; for middle-income households, by almost $2,000, according to the Tax Policy Center, a non-partisan think tank.</p>
<p>Here are the key tax increases, spending cuts and other issues that have come to be known as the "fiscal cliff":</p>
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<p>TAX MEASURES</p>
<p>* Income tax rates. On Dec. 31, low ordinary income tax rates enacted on a "temporary" basis in 2001 under former Republican President George W. Bush are set to expire.</p>
<p>President Barack Obama, his fellow Democrats and Republicans in Congress agreed at the end of 2010 to extend these rates for two years, but only a few days remain on that timetable.</p>
<p>If Congress and Obama do nothing by Dec. 31, taxes will rise for most Americans. Rates will go up to 15, 28, 31, 36 and 39.6 percent from the present 10, 15, 25, 28, 33 and 35 percent.</p>
<p>Obama and the Democrats want to prevent this by extending the Bush tax rates again, but only for income below $200,000 per individual, or $250,000 per family. For income above that level, they seek a return to the higher, pre-Bush tax rates.</p>
<p>Republicans are divided. Some who oppose tax increases of any kind want the Bush tax rates to be extended at all income levels. Others, including House of Representatives Speaker John Boehner, have supported letting rates rise, but only on incomes above $1 million - a much higher level than Democrats support.</p>
<p>Obama proposed a compromise level of $400,000, but this was spurned by Republicans. Boehner spent several days last week trying to pass a measure in the House, which he leads, with the $1-million threshold. But he lacked the votes and gave up.</p>
<p>Afterward, Boehner said Obama and the Democratic-controlled Senate must work out a compromise. The Senate has returned from its holiday break. The Republican-controlled House has not but is expected to return late on Sunday.</p>
<p>* Investment income tax rates. Bush and Congress in 2003 cut taxes on capital gains and dividends, most of which go to high-income taxpayers. These cuts are set to expire at year-end too.</p>
<p>If no action is taken, the long-term capital gains tax rate will rise to 20 percent from 15 percent for the top four tax brackets. At the bottom, they will rise to 10 percent from zero.</p>
<p>Obama wants to let the capital gains rate rise to 20 percent from 15 percent for income above the $200,000/$250,000 level. Taxes on gains below that would still top out at 15 percent.</p>
<p>Without action from Congress, the dividend tax rate will rise to the ordinary income tax rates for each tax bracket. That would be as high as 39.6 percent for top earners, up from 15 percent now for dividends on qualified, long-term investments.</p>
<p>Obama wants to keep the 15 percent qualified dividend rate cap for most people, but let it rise on income above the $200,000/$250,000 threshold, to 36 percent or 39.6 percent.</p>
<p>* Personal exemption phase-out and itemized deduction limit. These caps on personal exemptions and itemized deductions will return in 2013 if Congress does not intervene. Both apply to upper-income taxpayers and would limit their ability to lower their tax bills. The caps were eliminated in stages by Bush. But the expiration of his tax cuts means the caps would come back.</p>
<p>* Obama healthcare tax. Regardless of what happens with the fiscal cliff, investment income above $200,000/$250,000 will be subject to a new 3.8 percent tax under Obama's healthcare law.</p>
<p>* Alternative minimum tax. The AMT - which prevents upper income taxpayers from slashing their tax bills too much through tax breaks - expired at the end of 2011. That has not had an impact yet because 2012 tax returns have not been filed. The tax is not indexed for inflation. So it is routinely "patched" to prevent tens of millions of upper-middle-class taxpayers from having to start paying it. Both Republicans and Democrats support doing another patch, but have not approved one. The Internal Revenue Service has warned that as many as 100 million taxpayers could face refund delays without an AMT fix.</p>
<p>* Tax breaks. Dozens of individual and business tax breaks expired at the end of 2011, including the research and development credit. There is wide support for extending them again, but businesses will be watching for any faltering.</p>
<p>* Payroll tax. A cut in the payroll tax was extended earlier this year, in an effort to boost the economy. The current 4.2 percent rate paid by about 160 million workers, down from the previous 6.2 percent rate, expires on Dec. 31. Some Democrats, including Obama, back extending the tax cut. The powerful AARP seniors' lobby opposes renewing the cut, fearing the Social Security system that it helps fund will be undermined.</p>
<p>* Estate tax. The estate tax, which applies to assets passed onto heirs, currently stands at 35 percent, after an exemption level of $5 million. With no action, the tax will rise to 55 percent, after excluding the first $1 million of value. Obama wants to raise the tax to 45 percent, with a $3.5 million exemption, but some high-profile Democrats have come out in support of keeping the current tax and exemption levels. Many Republicans want a repeal of what they call the "death tax."</p>
<p>BUDGET MEASURES</p>
<p>* Automatic spending cuts. In a deal last year to raise the U.S. debt ceiling, Obama and Congress agreed to $1.2 trillion in across-the-board spending cuts if lawmakers failed to reach a deficit-cutting deal by Jan. 2. They failed. Now lawmakers fear the cuts, known as a "sequester," could harm the economy. Obama has proposed delaying the cuts for a year.</p>
<p>* Unemployment benefits. Millions of people have been exhausting their government jobless benefits during the economic downturn. Congress has extended the benefits several times. Another deadline comes at year-end. Many Republicans want the extensions to stop, saying they discourage job-hunting. Obama has proposed extending the benefits.</p>
<p>* "Doc fix." Because of an outdated formula in the law, government payments to doctors who treat patients on Medicare, the U.S. health program for the elderly and disabled, are routinely underestimated. If Congress doesn't fix the situation by the end of the year, the doctors face a double-digit cut to their payments, which could lead them to drop Medicare patients.</p>
<p>DEBT CEILING</p>
<p>The Treasury Department on Dec. 26 announced the first in a series of measures to delay by two months or so the day when the government will exceed its legal borrowing authority. Without action, Treasury said the $16.4 trillion debt ceiling would be reached on Dec. 31. Obama wants it raised under a deal to avoid the cliff and he wants new power to raise it himself.</p> | true | 0 | fiscal cliff days away efforts avert making little progress us lawmakers predicting tax increases federal spending cuts involved start taking hold january unless deal comes together quickly continue reading jolts economy allowed occur recession could follow economists forecast consumer spending power suddenly would reduced nation tumbles cliff us governments annual tax take would rise 500 billion significantly lowering federal budget deficit high economic price average us households tax bill would rise 3500 middleincome households almost 2000 according tax policy center nonpartisan think tank key tax increases spending cuts issues come known fiscal cliff advertisement tax measures income tax rates dec 31 low ordinary income tax rates enacted temporary basis 2001 former republican president george w bush set expire president barack obama fellow democrats republicans congress agreed end 2010 extend rates two years days remain timetable congress obama nothing dec 31 taxes rise americans rates go 15 28 31 36 396 percent present 10 15 25 28 33 35 percent obama democrats want prevent extending bush tax rates income 200000 per individual 250000 per family income level seek return higher prebush tax rates republicans divided oppose tax increases kind want bush tax rates extended income levels others including house representatives speaker john boehner supported letting rates rise incomes 1 million much higher level democrats support obama proposed compromise level 400000 spurned republicans boehner spent several days last week trying pass measure house leads 1million threshold lacked votes gave afterward boehner said obama democraticcontrolled senate must work compromise senate returned holiday break republicancontrolled house expected return late sunday investment income tax rates bush congress 2003 cut taxes capital gains dividends go highincome taxpayers cuts set expire yearend action taken longterm capital gains tax rate rise 20 percent 15 percent top four tax brackets bottom rise 10 percent zero obama wants let capital gains rate rise 20 percent 15 percent income 200000250000 level taxes gains would still top 15 percent without action congress dividend tax rate rise ordinary income tax rates tax bracket would high 396 percent top earners 15 percent dividends qualified longterm investments obama wants keep 15 percent qualified dividend rate cap people let rise income 200000250000 threshold 36 percent 396 percent personal exemption phaseout itemized deduction limit caps personal exemptions itemized deductions return 2013 congress intervene apply upperincome taxpayers would limit ability lower tax bills caps eliminated stages bush expiration tax cuts means caps would come back obama healthcare tax regardless happens fiscal cliff investment income 200000250000 subject new 38 percent tax obamas healthcare law alternative minimum tax amt prevents upper income taxpayers slashing tax bills much tax breaks expired end 2011 impact yet 2012 tax returns filed tax indexed inflation routinely patched prevent tens millions uppermiddleclass taxpayers start paying republicans democrats support another patch approved one internal revenue service warned many 100 million taxpayers could face refund delays without amt fix tax breaks dozens individual business tax breaks expired end 2011 including research development credit wide support extending businesses watching faltering payroll tax cut payroll tax extended earlier year effort boost economy current 42 percent rate paid 160 million workers previous 62 percent rate expires dec 31 democrats including obama back extending tax cut powerful aarp seniors lobby opposes renewing cut fearing social security system helps fund undermined estate tax estate tax applies assets passed onto heirs currently stands 35 percent exemption level 5 million action tax rise 55 percent excluding first 1 million value obama wants raise tax 45 percent 35 million exemption highprofile democrats come support keeping current tax exemption levels many republicans want repeal call death tax budget measures automatic spending cuts deal last year raise us debt ceiling obama congress agreed 12 trillion acrosstheboard spending cuts lawmakers failed reach deficitcutting deal jan 2 failed lawmakers fear cuts known sequester could harm economy obama proposed delaying cuts year unemployment benefits millions people exhausting government jobless benefits economic downturn congress extended benefits several times another deadline comes yearend many republicans want extensions stop saying discourage jobhunting obama proposed extending benefits doc fix outdated formula law government payments doctors treat patients medicare us health program elderly disabled routinely underestimated congress doesnt fix situation end year doctors face doubledigit cut payments could lead drop medicare patients debt ceiling treasury department dec 26 announced first series measures delay two months day government exceed legal borrowing authority without action treasury said 164 trillion debt ceiling would reached dec 31 obama wants raised deal avoid cliff wants new power raise | 738 |
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<p>Smith &amp; Wesson has enjoyed outsized demand for its guns and accessories, but there may be hurdles that it finds difficult to surmount. Image source: Kyle Post, via <a href="https://www.flickr.com/photos/46244456@N02/6788750832/" type="external">Flickr Opens a New Window.</a>.</p>
<p>Continue Reading Below</p>
<p>Gunmaker Smith &amp; Wesson Holding (NASDAQ: SWHC) has lost 27% of its value since the November elections, as concerns about demand have grown. But now that Smith &amp; Wesson trades at a 33% discount to the all-time high price of $31 a share it hit this summer, is its stock too risky to touch? Here's a look at the risks the gunslinger faces, and whether it can be a safe play over the long run.</p>
<p><a href="http://ycharts.com/companies/SWHC" type="external">SWHC</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>Obviously the biggest risk Smith &amp; Wesson faces is whether demand for its firearms can maintain its torrid pace. It can't be overstated just how <a href="http://www.fool.com/investing/2016/12/05/record-black-friday-gun-sales-mean-growth-will-slo.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">hot gun sales Opens a New Window.</a> have been over the past few years. Even if FBI background checks on gun buyers remain flat in December -- a highly unlikely event since there's only been one time that December checks weren't higher than November's -- the total for all of 2016 will surpass last year's record number by 18%. Let's just say it's a good bet the growth rate is going to be even higher than that.</p>
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<p>Yet the election of Donald Trump to the presidency last month also hit a <a href="http://www.fool.com/investing/2016/11/19/after-18-record-months-how-much-higher-can-gun-dem.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">pressure-release valve Opens a New Window.</a> on the gun market. It's long been argued the threat of more gun control under President Obama (and the potential for it under a President Clinton) kept the accelerator pinned to the floor on gun sales.</p>
<p>While other equally plausible reasons for robust gun sales have been put forward, the drop in value that Smith &amp; Wesson's stock suffered after the election suggests the market puts more credence in the former rationale than in arguments about rising fears for personal safety.</p>
<p>Despite both Smith &amp; Wesson and industry peer Sturm, Ruger (NYSE: RGR) saying they see no letup in demand for firearms, until they're proven right, doubts about demand sustainability will serve as a lid on their shares.</p>
<p>Image source: Vlad Butsky via <a href="https://www.flickr.com/photos/butsky/8158454772/" type="external">Flickr Opens a New Window.</a>.</p>
<p>The November election removed what could have been a severe threat to Smith &amp; Wesson's future. With a Supreme Court vacancy to be filled, a different candidate could have appointed a justice who might have undermined gun-ownership rights. The late Justice Antonin Scalia was a firm believer in <a href="http://www.fool.com/investing/general/2016/02/21/what-does-justice-scalias-death-mean-for-smith-wes.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">private gun ownership Opens a New Window.</a>, and one of his most important decisions was District of Columbia v. Heller, which enshrined the Constitution's protection of the right to own a firearm. Trump campaigned on appointing someone to the court who would continue to <a href="http://www.fool.com/investing/2016/10/29/donald-trump-and-gun-control-6-things-you-need-to.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">uphold those values Opens a New Window.</a>, so there seems little worry the Supreme Court will overturn those laws.</p>
<p>Moreover, Republican control of both houses of Congress indicates that no legislation will be enacted at the federal level to infringe on Second Amendment rights, either. From a regulatory standpoint, then, there seems little risk, though states could still individually try to limit access.</p>
<p>Unlike Sturm, Ruger -- essentially a firearms pure play -- Smith &amp; Wesson has branched out into extreme outdoors gear and equipment through its purchase of Battenfeld Technologies. The gunmaker has used the acquisition to scoop up a <a href="http://www.fool.com/investing/2016/11/15/is-this-gunmaker-prepping-for-doomsday.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">handful of small suppliers Opens a New Window.</a> this year that play into that field, including knife maker Taylor Brands and survival-gear maker Ultimate Survival Technologies. Smith &amp; Wesson has said it will be making even more acquisitions in this direction, and that introduces some uncertainty for investors.</p>
<p>Brand extensions, or even going vertically as Smith &amp; Wesson did with its acquisition of laser-sight maker Crimson Trace, are always viable options to pursue. But Smith &amp; Wesson is veering off into a new field with its attempt to become a big player in the extreme outdoors market.</p>
<p>Sporting goods is a $60 billion industry that's four times larger than the firearms market, so there is room for the gun manufacturer to grow, and others are doing it too: Vista Outdoors (NYSE: VSTO) is both a sporting-goods company and a maker of rifles and shotguns through its Savage Arms division. But because this will be a wholly new kind of business for Smith &amp; Wesson, it could encounter problems as it feels its way along.</p>
<p>Image source: Getty Images.</p>
<p>In conjunction with its push into sporting goods and to reflect that new focus, Smith &amp; Wesson has proposed <a href="http://www.fool.com/investing/2016/11/17/you-wont-believe-the-huge-mistake-this-gunmaker-is.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">changing its name Opens a New Window.</a> to American Outdoor Brands. While it will continue to manufacture its firearms under the Smith &amp; Wesson brand, it wants to hide behind a broader, blander corporate umbrella. After all, when you hear the name "Vista Outdoors" you don't think of the guns it makes, so when Trump won the presidency, Vista's stock hardly budged. By changing its name, Smith &amp; Wesson might be able to remove some of the volatility that surrounds its stock, but it also risks burying a storied and well-respected brand that is also one of its strongest selling points. I think it's ultimately a bad decision, but let's call this one a toss-up.</p>
<p>Although the gunmaker has had some of the risks it's faced doused by external events, others, including the biggest hurdle, remain before it. It's likely Smith &amp; Wesson's stock will remain depressed until the company can demonstrate the demand it believes is still present, and people buy its guns.</p>
<p>And that could be good news for investors. The depressed stock trades at just 10 times trailing earnings as well as forward estimates. It goes for just a fraction of its earnings growth prospects. And when you compare its enterprise value to its ability to generate free cash flow, Smith &amp; Wesson Holding is in the bargain-basement bin. It might be some time before it's elevated out of that holding pen, but the potential long-term returns to be earned from buying it at these levels will be that much greater.</p>
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<p><a href="http://my.fool.com/profile/TMFCop/info.aspx" type="external">Rich Duprey Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | smith amp wesson enjoyed outsized demand guns accessories may hurdles finds difficult surmount image source kyle post via flickr opens new window continue reading gunmaker smith amp wesson holding nasdaq swhc lost 27 value since november elections concerns demand grown smith amp wesson trades 33 discount alltime high price 31 share hit summer stock risky touch heres look risks gunslinger faces whether safe play long run swhc data ycharts opens new window obviously biggest risk smith amp wesson faces whether demand firearms maintain torrid pace cant overstated hot gun sales opens new window past years even fbi background checks gun buyers remain flat december highly unlikely event since theres one time december checks werent higher novembers total 2016 surpass last years record number 18 lets say good bet growth rate going even higher advertisement yet election donald trump presidency last month also hit pressurerelease valve opens new window gun market long argued threat gun control president obama potential president clinton kept accelerator pinned floor gun sales equally plausible reasons robust gun sales put forward drop value smith amp wessons stock suffered election suggests market puts credence former rationale arguments rising fears personal safety despite smith amp wesson industry peer sturm ruger nyse rgr saying see letup demand firearms theyre proven right doubts demand sustainability serve lid shares image source vlad butsky via flickr opens new window november election removed could severe threat smith amp wessons future supreme court vacancy filled different candidate could appointed justice might undermined gunownership rights late justice antonin scalia firm believer private gun ownership opens new window one important decisions district columbia v heller enshrined constitutions protection right firearm trump campaigned appointing someone court would continue uphold values opens new window seems little worry supreme court overturn laws moreover republican control houses congress indicates legislation enacted federal level infringe second amendment rights either regulatory standpoint seems little risk though states could still individually try limit access unlike sturm ruger essentially firearms pure play smith amp wesson branched extreme outdoors gear equipment purchase battenfeld technologies gunmaker used acquisition scoop handful small suppliers opens new window year play field including knife maker taylor brands survivalgear maker ultimate survival technologies smith amp wesson said making even acquisitions direction introduces uncertainty investors brand extensions even going vertically smith amp wesson acquisition lasersight maker crimson trace always viable options pursue smith amp wesson veering new field attempt become big player extreme outdoors market sporting goods 60 billion industry thats four times larger firearms market room gun manufacturer grow others vista outdoors nyse vsto sportinggoods company maker rifles shotguns savage arms division wholly new kind business smith amp wesson could encounter problems feels way along image source getty images conjunction push sporting goods reflect new focus smith amp wesson proposed changing name opens new window american outdoor brands continue manufacture firearms smith amp wesson brand wants hide behind broader blander corporate umbrella hear name vista outdoors dont think guns makes trump presidency vistas stock hardly budged changing name smith amp wesson might able remove volatility surrounds stock also risks burying storied wellrespected brand also one strongest selling points think ultimately bad decision lets call one tossup although gunmaker risks faced doused external events others including biggest hurdle remain likely smith amp wessons stock remain depressed company demonstrate demand believes still present people buy guns could good news investors depressed stock trades 10 times trailing earnings well forward estimates goes fraction earnings growth prospects compare enterprise value ability generate free cash flow smith amp wesson holding bargainbasement bin might time elevated holding pen potential longterm returns earned buying levels much greater 10 stocks like better smith wesson holding investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right smith wesson holding wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns nov 7 2016 rich duprey opens new window position stocks mentioned motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 707 |
<p />
<p>Candy might be dandy, but for sweet profits, liquor is definitely quicker. The biggest confectioners enjoy net profit margins that barely break out of the single-digit range, while comparable leading distillers are more than double that.</p>
<p>Continue Reading Below</p>
<p>So let's roll out the barrel and take a look at three wine, liquor, and spirits distributors that could help uncork your portfolio's returns: Brown-Forman (NYSE: BF-A) (NYSE: BF-B), Constellation Brands (NYSE: STZ), and Diageo (NYSE: DEO).</p>
<p>Image source: Getty Images.</p>
<p>According to the Distilled Spirits Council of the U.S., <a href="https://www.fool.com/investing/2017/02/25/will-jack-daniels-sales-sink-on-trumps-tough-trade.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">American whiskey sales Opens a New Window.</a> have never been stronger, as bourbon, Tennessee whiskey, and rye jumped 8% last year to $3.1 billion. Volumes were also higher, rising 6.8% to 21.8 million cases, driven mostly by higher export volumes, which jumped more than 10% in 2016.</p>
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<p>Brown-Forman played a leading role in those gains, as its Jack Daniel's family of whiskey continued to push sales higher here at home as well as abroad. In its fiscal 2017 third-quarter earnings report, the distiller said year-to-date underlying net sales in the U.S. were up 4% as Tennessee Whiskey, Tennessee Honey, and Gentleman Jack all saw increases, with 3% gains in developed markets and 5% growth in emerging markets. It's looking for underlying net sales to grow 3% to 4% for the full year across its portfolio, leading to increases in operating income of 5% to 7%.</p>
<p>Image source: Brown-Forman.</p>
<p>The introduction of new flavors has helped spark renewed interest in the "browns" category, but in Brown-Forman's Jack Daniel's in particular. Its honey-flavored Tennessee Honey has maintained strong growth since its introduction, with volumes 5% higher in the period, while its cinnamon-spiked Tennessee Fire continues to challenge industry leader Fireball with double-digit net sales growth as Brown-Forman continued its international rollout.</p>
<p>While the new appreciation for whiskey has led to the creation of a cottage industry in craft distillers, similar to what happened in the beer market several decades ago, there's plenty of room from the old-line distillers to grow, and Brown-Forman will <a href="https://www.fool.com/investing/2016/09/05/for-brown-forman-corporation-jack-daniels-is-more.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">continue to capitalize Opens a New Window.</a> on its leading position.</p>
<p>While Constellation Brands derives more than half of its consolidated revenue from beer sales, which brought in over $3.3 billion through the first nine months of its fiscal year, it has a nearly equally robust wine and spirits portfolio that generated almost $2.4 billion in sales from wine brands including Almaden, Robert Mondavi, and Ruffino, as well as spirits such as Svedka vodka and Black Velvet Canadian whisky (yes, it's spelled differently).</p>
<p>The first real spark of growth Constellation enjoyed was acquiring the full U.S. rights to Grupo Modelo's Corona, Modelo, and Pacifico beers when it acquired Crown Imports from Anheuser-Busch InBev (NYSE: BUD) in 2013. It followed that up in 2015 with the acquisition of regional craft brewer Ballast Point Brewing, for which it <a href="https://www.fool.com/investing/general/2015/11/29/1-billion-for-this-tiny-craft-brewer-what-does-i-2.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">paid $1 billion Opens a New Window.</a>, but has seen transform into the fastest-growing craft beer in the country.</p>
<p>Image source: Constellation Brands.</p>
<p>The wine and spirits portfolio has offered Constellation a more measured, stable kind of growth, and over the first three quarters of fiscal 2017, sales have expanded by 4% year over year.</p>
<p>However, Constellation sold off its Canadian wine business and bought the Obregon brewery in Mexico, as well as Charles Smith Wines and High West Distillery to jump on U.S. market trends toward high-end wines and spirits. It will be changing consumer preference for the premium brands in its portfolio that will be the straw that stirs Constellation's drink.</p>
<p>Diageo is another adult beverage distributor with a deep bench of brands stretching across spirits and beer. Among its top-shelf names are Johnnie Walker Scotch whisky, Smirnoff vodka, Captain Morgan rum, Baileys liqueur, Tanqueray gin, and Guinness beer. At some point or another you've likely tasted at least one of them, possibly all of them (though hopefully not at the same time).</p>
<p>Revenue across the first six months of its fiscal year grew 14.5%, though a lot of that gain was the result of currency fluctuations that saw the U.K.'s Brexit vote wallop the British pound. Still, organic revenue grew over 4% for the period as volumes increased 1.8% helping it generate free cash flow in excess of 1 billion pounds, or about $1.2 billion at current exchange rates</p>
<p>Image source: Diageo.</p>
<p>Like the other distillers, Diageo was able to capitalize on the popularity of the twin trends toward whiskey and premiumization with net sales in North America growing 15% as Crown Royal whiskey and Bulleit bourbon continued to gain market share. Its Johnnie Walker brand also grew 9% in the quarter.</p>
<p>Diageo notes the drive toward premium spirits in international markets is being "driven by growth in both populations and incomes," and it plans to increase the penetration of such brands in emerging markets as well.</p>
<p>There's no questionDiego'sstock is also premium-priced, but as one of the leaders across all spirits and enjoying the growth rates it has, that's to be expected. That doesn't mean it can't continue to gain, however, and with a new premium Irish whiskey set to launch called Roe &amp; Co. that seeks to challenge Jameson, there may be a new spirit we'll be raising our glasses to toast.</p>
<p>10 stocks we like better than Brown-Forman (B Shares)When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=22af6d76-42d2-4be6-a2da-a3604c686a81&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Brown-Forman (B Shares) wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
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<p>*Stock Advisor returns as of February 6, 2017</p>
<p><a href="http://my.fool.com/profile/TMFCop/info.aspx" type="external">Rich Duprey Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Anheuser-Busch InBev NV. The Motley Fool recommends Diageo. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | candy might dandy sweet profits liquor definitely quicker biggest confectioners enjoy net profit margins barely break singledigit range comparable leading distillers double continue reading lets roll barrel take look three wine liquor spirits distributors could help uncork portfolios returns brownforman nyse bfa nyse bfb constellation brands nyse stz diageo nyse deo image source getty images according distilled spirits council us american whiskey sales opens new window never stronger bourbon tennessee whiskey rye jumped 8 last year 31 billion volumes also higher rising 68 218 million cases driven mostly higher export volumes jumped 10 2016 advertisement brownforman played leading role gains jack daniels family whiskey continued push sales higher home well abroad fiscal 2017 thirdquarter earnings report distiller said yeartodate underlying net sales us 4 tennessee whiskey tennessee honey gentleman jack saw increases 3 gains developed markets 5 growth emerging markets looking underlying net sales grow 3 4 full year across portfolio leading increases operating income 5 7 image source brownforman introduction new flavors helped spark renewed interest browns category brownformans jack daniels particular honeyflavored tennessee honey maintained strong growth since introduction volumes 5 higher period cinnamonspiked tennessee fire continues challenge industry leader fireball doubledigit net sales growth brownforman continued international rollout new appreciation whiskey led creation cottage industry craft distillers similar happened beer market several decades ago theres plenty room oldline distillers grow brownforman continue capitalize opens new window leading position constellation brands derives half consolidated revenue beer sales brought 33 billion first nine months fiscal year nearly equally robust wine spirits portfolio generated almost 24 billion sales wine brands including almaden robert mondavi ruffino well spirits svedka vodka black velvet canadian whisky yes spelled differently first real spark growth constellation enjoyed acquiring full us rights grupo modelos corona modelo pacifico beers acquired crown imports anheuserbusch inbev nyse bud 2013 followed 2015 acquisition regional craft brewer ballast point brewing paid 1 billion opens new window seen transform fastestgrowing craft beer country image source constellation brands wine spirits portfolio offered constellation measured stable kind growth first three quarters fiscal 2017 sales expanded 4 year year however constellation sold canadian wine business bought obregon brewery mexico well charles smith wines high west distillery jump us market trends toward highend wines spirits changing consumer preference premium brands portfolio straw stirs constellations drink diageo another adult beverage distributor deep bench brands stretching across spirits beer among topshelf names johnnie walker scotch whisky smirnoff vodka captain morgan rum baileys liqueur tanqueray gin guinness beer point another youve likely tasted least one possibly though hopefully time revenue across first six months fiscal year grew 145 though lot gain result currency fluctuations saw uks brexit vote wallop british pound still organic revenue grew 4 period volumes increased 18 helping generate free cash flow excess 1 billion pounds 12 billion current exchange rates image source diageo like distillers diageo able capitalize popularity twin trends toward whiskey premiumization net sales north america growing 15 crown royal whiskey bulleit bourbon continued gain market share johnnie walker brand also grew 9 quarter diageo notes drive toward premium spirits international markets driven growth populations incomes plans increase penetration brands emerging markets well theres questiondiegosstock also premiumpriced one leaders across spirits enjoying growth rates thats expected doesnt mean cant continue gain however new premium irish whiskey set launch called roe amp co seeks challenge jameson may new spirit well raising glasses toast 10 stocks like better brownforman b shareswhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right brownforman b shares wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 rich duprey opens new window position stocks mentioned motley fool owns shares recommends anheuserbusch inbev nv motley fool recommends diageo motley fool disclosure policy opens new window | 649 |
<p><a href="https://reason.com/blog/2015/05/20/clinton-aide-sid-blumenthal-is-the-human" type="external">Semen-soaked dress</a> Sidney Blumenthal will not evaporate gracefully out of the Clintonian stratosphere. The same man that slut-shamed Monica Lewinsky into silence, welcoming the era of cyberbullying, now sits at the center of the Benghazi-scandal.</p>
<p>Sidney Blumenthal is the quintessential mule of the ' <a href="http://www.realclearpolitics.com/video/2015/07/24/ted_cruz_elaborates_on_washington_cartel_with_rush_limbaugh_direct_hit_on_senate_leadership.html" type="external">Washington Cartel</a>.' Hillary Clinton's long-time pal is no stranger to opprobrium. Here are five things you need to know about Hillary's dirty errand boy:</p>
<p>1. Sidney Blumenthal exploited his connections to Hillary to feed her bad information on Libya. As a long-time Clinton attack hound, Blumenthal exploited Hillary’s top-post at the State Department for his own personal and monetary gain. The <a href="" type="internal">Congressional investigation</a> led by Rep. Trey Gowdy (R-SC) revealed Blumenthal and then-Secretary of State Hillary Clinton exchanged thousands of personal correspondences via the private email server. At the time, Blumenthal was working for the Clinton Foundation and urged Hillary to provide privileged information on the economic and political climate of Libya.</p>
<p>“The emails, provided by Sidney Blumenthal, a close adviser to Mrs. Clinton, include information about weapons that were circulating in Libya and about the security situation in Benghazi in the year and a half before the attacks,” <a href="https://www.nytimes.com/2015/06/16/us/politics/sidney-blumenthal-hillary-clintons-confidant-turns-over-memos-on-libya.html?_r=1" type="external">reported</a> the The New York Times, “In the emails he gave to the committee, there are several references to weapons in Libya. One describes how a Libyan opposition leader feared that the United States did not want to provide weapons to opposition groups because the arms could fall into the hands of Al Qaeda or other radical Islamist groups. Another email included a list of weapons said to be possessed by the government of Col. Muammar el-Qaddafi.” Blumenthal now stands accused of exploiting this State Department-provided intelligence for his own business dealings.</p>
<p>Observer News rightly <a href="http://observer.com/2015/11/just-who-is-sidney-blumenthal-the-clintons-closest-advisor/" type="external">asserts</a>, "Faulting the Benghazi committee for scrutinizing Mr. Blumenthal is like saying the Warren Commission was preoccupied with Lee Harvey Oswald."</p>
<p>2. Sidney Blumenthal is the main cog in the Clinton attack machine. If ever the term political hit-man applied, it would be here. Both Bill and Hillary Clinton rely on Blumenthal to take out any and all opposition to their power-hungry ambitions. Reason <a href="https://reason.com/blog/2015/05/20/clinton-aide-sid-blumenthal-is-the-human" type="external">notes</a>:</p>
<p>Blumenthal's nastiness and willingness to fling shit like a howler monkey in heat earned him the sobriquet "Sid Vicious," because, well, you know there's really not much difference between a New Republic and New Yorker kind of guy and the junk-addicted, homicidal bassist for the Sex Pistols, amirite.</p>
<p>Blumenthal tossed in his journalism cred to work for the Clinton White House in roles ranging from what the Wall Street Journal calls "political Svengali to opposition hit man." He was there for the worst times in the Clinton White House and his apparent role in the "nuts-and-sluts" strategy and more led to a phenomenally acrimonious public break with his one-time best buddy, Christopher Hitchens.</p>
<p>3. Sidney Blumenthal reportedly spread false rumors and libelous claims against Barack Obama during the 2008 presidential election. Ironically, many of the seemingly racist and unfair attacks against Obama were allegedly the machinations of Blumenthal's decrepit mind. While the Left calls in the sensitivity police to deal with Republican criticism, it leaves Blumenthal untouched. As a top aide to then-candidate Hillary Clinton, Blumenthal was reportedly assigned to defame candidate Barack Obama using any seedy tool at his disposal. Observer News <a href="http://observer.com/2015/11/just-who-is-sidney-blumenthal-the-clintons-closest-advisor/" type="external">reveals</a>:</p>
<p>He encouraged the Clinton campaign to exploit Mr. Obama’s relationship to Reverend Jeremiah Wright, and tried to push out to the media bogus stories about Mr. Obama’s alleged ties to Louis Farrakhan. And the spineless Mr. Obama predictably helped Ms. Clinton out by denouncing Mr. Farrakhan’s endorsement of him, instead of merely ignoring it and reaping the benefit of even more solid African-American support for his campaign.When President Obama was running against Ms. Clinton in the 2008 Democratic primaries, Mr. Blumenthal sent dozens of anti-Obama articles from far-right publications to reporters and others, smearing Ms. Clinton’s rival. Much of what he sent was sub-conspiracy theory material and had no basis in fact. Mr. Blumenthal was also a proponent of playing the race card against President Obama in the most unsavory way.</p>
<p>"Faulting the Benghazi committee for scrutinizing Mr. Blumenthal is like saying the Warren Commission was preoccupied with Lee Harvey Oswald."</p>
<p>Observer News</p>
<p>4. Sidney Blumenthal mercilessly attacked Monica Lewinsky to exonerate Bill Clinton. Blumenthal's role in the Clinton-Lewinksy scandal is inscribed as one the most disgraceful moments of modern presidential history. The Clinton attack-dog allegedly <a href="https://www.theatlantic.com/past/docs/issues/2003/07/hitchens.htm" type="external">lied in sworn Congressional testimony</a>. Blumenthal <a href="http://www.cnn.com/ALLPOLITICS/stories/1999/02/06/blumenthal.affidavit/" type="external">denied involvement</a> in spreading negative rumors and slanderous falsehoods against Monica Lewinsky, despite a <a href="http://www.cnn.com/ALLPOLITICS/stories/1999/02/06/blumenthal.affidavit/" type="external">sworn affidavit</a>for his long-time friend, journalist Christopher Hitchens, disputing Blumenthal's testimony. Hitchens corroborated the evidence that suggested that Blumenthal had indeed spread the rumor that Lewinsky was a "stalker." As retribution for this apparent act of betrayal, Blumenthal excommunicated Hitchens and shunned him as a Washington pariah.</p>
<p>Blumenthal's rage was not satiated just yet. He continued this crusade of vengeance against all Clinton dissidents and opponents. Observer News <a href="http://observer.com/2015/11/just-who-is-sidney-blumenthal-the-clintons-closest-advisor/" type="external">documents</a>:</p>
<p>Going back to the Bill Clinton impeachment crisis, Mr. Blumenthal, then the president’s special adviser, spread false rumors that one of Kenneth Starr’s prosecutors abused young boys at a Christian summer camp and that Monica Lewinsky was stalking the president. In 1995, Mr. Blumenthal told reporters that Alma Powell, Colin Powell’s wife, suffered from clinical depression and was thus unfit to be a first lady. At the time, there were rumors that Colin Powell would run in the Republican presidential primaries, a prospect that terrified the Clinton re-election campaign.</p>
<p>5. Sidney Blumenthal's son, Max Blumenthal, is an anti-Semitic, Israel-demonizing, conspiracy-minded nutcase. Although Max's followers are few and far between, his influence in the lascivious world of online hubs' anti-Zionist conspiracy theory is still substantial. Blumenthal is cited by a number of pro-Palestinian, anti-Israel fringe websites including <a href="https://electronicintifada.net/" type="external">The Electronic Intifada</a>, a name that betrays its intentions, and the shamelessly Jew-bashing conspiracy site, <a href="http://mondoweiss.net/" type="external">Mondoweiss</a>. A regular provocateur on social media, alongside his equally anti-Semitic partner in crime faux-journalist <a href="https://twitter.com/RaniaKhalek?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" type="external">Rania Khalek</a>, Max mercilessly bullies anybody that dares contradict his viewpoints via 150 characters. Max's discredited and poorly-written diatribe against Israel, aptly entitled <a href="http://brandeiscenter.com/blog/max-blumenthals-goliath-and-the-mainstreaming-of-anti-semitism/" type="external">Goliath</a>, failed to generate any sales beyond his anti-Semitic cult of followers. The <a href="http://brandeiscenter.com/blog/max-blumenthals-goliath-and-the-mainstreaming-of-anti-semitism/" type="external">Louis D. Brandeis Center for Human Rights Under Law</a> has suggested that Max's book attempts to mainstream anti-Semitism by conflating Israel with Nazi Germany. Max Blumenthal's "open call for the demise of the Jewish state and a “Juden raus”-policy for those of Israel’s Jews who would be unwilling to 'become indigenized' after the hoped-for victory of the BDS movement" is the hallmark of the Jew-hater's legacy. And Sidney routinely sent Max's diatribes to his good friend, Hillary Clinton.</p> | true | 0 | semensoaked dress sidney blumenthal evaporate gracefully clintonian stratosphere man slutshamed monica lewinsky silence welcoming era cyberbullying sits center benghaziscandal sidney blumenthal quintessential mule washington cartel hillary clintons longtime pal stranger opprobrium five things need know hillarys dirty errand boy 1 sidney blumenthal exploited connections hillary feed bad information libya longtime clinton attack hound blumenthal exploited hillarys toppost state department personal monetary gain congressional investigation led rep trey gowdy rsc revealed blumenthal thensecretary state hillary clinton exchanged thousands personal correspondences via private email server time blumenthal working clinton foundation urged hillary provide privileged information economic political climate libya emails provided sidney blumenthal close adviser mrs clinton include information weapons circulating libya security situation benghazi year half attacks reported new york times emails gave committee several references weapons libya one describes libyan opposition leader feared united states want provide weapons opposition groups arms could fall hands al qaeda radical islamist groups another email included list weapons said possessed government col muammar elqaddafi blumenthal stands accused exploiting state departmentprovided intelligence business dealings observer news rightly asserts faulting benghazi committee scrutinizing mr blumenthal like saying warren commission preoccupied lee harvey oswald 2 sidney blumenthal main cog clinton attack machine ever term political hitman applied would bill hillary clinton rely blumenthal take opposition powerhungry ambitions reason notes blumenthals nastiness willingness fling shit like howler monkey heat earned sobriquet sid vicious well know theres really much difference new republic new yorker kind guy junkaddicted homicidal bassist sex pistols amirite blumenthal tossed journalism cred work clinton white house roles ranging wall street journal calls political svengali opposition hit man worst times clinton white house apparent role nutsandsluts strategy led phenomenally acrimonious public break onetime best buddy christopher hitchens 3 sidney blumenthal reportedly spread false rumors libelous claims barack obama 2008 presidential election ironically many seemingly racist unfair attacks obama allegedly machinations blumenthals decrepit mind left calls sensitivity police deal republican criticism leaves blumenthal untouched top aide thencandidate hillary clinton blumenthal reportedly assigned defame candidate barack obama using seedy tool disposal observer news reveals encouraged clinton campaign exploit mr obamas relationship reverend jeremiah wright tried push media bogus stories mr obamas alleged ties louis farrakhan spineless mr obama predictably helped ms clinton denouncing mr farrakhans endorsement instead merely ignoring reaping benefit even solid africanamerican support campaignwhen president obama running ms clinton 2008 democratic primaries mr blumenthal sent dozens antiobama articles farright publications reporters others smearing ms clintons rival much sent subconspiracy theory material basis fact mr blumenthal also proponent playing race card president obama unsavory way faulting benghazi committee scrutinizing mr blumenthal like saying warren commission preoccupied lee harvey oswald observer news 4 sidney blumenthal mercilessly attacked monica lewinsky exonerate bill clinton blumenthals role clintonlewinksy scandal inscribed one disgraceful moments modern presidential history clinton attackdog allegedly lied sworn congressional testimony blumenthal denied involvement spreading negative rumors slanderous falsehoods monica lewinsky despite sworn affidavitfor longtime friend journalist christopher hitchens disputing blumenthals testimony hitchens corroborated evidence suggested blumenthal indeed spread rumor lewinsky stalker retribution apparent act betrayal blumenthal excommunicated hitchens shunned washington pariah blumenthals rage satiated yet continued crusade vengeance clinton dissidents opponents observer news documents going back bill clinton impeachment crisis mr blumenthal presidents special adviser spread false rumors one kenneth starrs prosecutors abused young boys christian summer camp monica lewinsky stalking president 1995 mr blumenthal told reporters alma powell colin powells wife suffered clinical depression thus unfit first lady time rumors colin powell would run republican presidential primaries prospect terrified clinton reelection campaign 5 sidney blumenthals son max blumenthal antisemitic israeldemonizing conspiracyminded nutcase although maxs followers far influence lascivious world online hubs antizionist conspiracy theory still substantial blumenthal cited number propalestinian antiisrael fringe websites including electronic intifada name betrays intentions shamelessly jewbashing conspiracy site mondoweiss regular provocateur social media alongside equally antisemitic partner crime fauxjournalist rania khalek max mercilessly bullies anybody dares contradict viewpoints via 150 characters maxs discredited poorlywritten diatribe israel aptly entitled goliath failed generate sales beyond antisemitic cult followers louis brandeis center human rights law suggested maxs book attempts mainstream antisemitism conflating israel nazi germany max blumenthals open call demise jewish state juden rauspolicy israels jews would unwilling become indigenized hopedfor victory bds movement hallmark jewhaters legacy sidney routinely sent maxs diatribes good friend hillary clinton | 701 |
<p />
<p>Much like the recent celebrations of the Chinese New Year, the earnings season for technology investors saw its fair share of fireworks.</p>
<p>Continue Reading Below</p>
<p>Though it produced several successes, this quarter's crop of earnings reports also featured the most disappointments of any quarter in recent memory, with names such as Amazon.com , GoPro , LinkedIn stumbling along with several other high-profile tech companies.</p>
<p>So as we sift through the rubble in search of opportunity, let's review the earnings meltdowns at Amazon, GoPro, and LinkedIn to see how investors should approach their shares.</p>
<p>1. Amazon.com In classic Amazon fashion, the world's most dominant e-commerce site delivered quarterly and annual results featuring prodigious sales growth while delivering meager profits. The market hoped for better, sending Amazon stock sharply lower the day after the earnings release.</p>
<p><a href="http://ycharts.com/companies/AMZN" type="external">AMZN</a> data by <a href="http://ycharts.com" type="external">YCharts</a></p>
<p>But for those familiar with the company's long-term land-grab strategy, Amazon's report should have come as no surprise.Here's a quick snapshot of Amazon's performance.</p>
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<p>Sources: Amazon investor relations, Yahoo! Finance; revenue figures in $US billions.</p>
<p>In the big picture, Amazon remains laser focused on its strategy of aggressively cutting costs and lowering prices to gain market share in both cloud computing and e-commerce, two massive long-term secular <a href="http://www.fool.com/investing/general/2014/07/25/in-defense-of-amazon.aspx?source=eptfxblnk0000004" type="external">growth markets</a> still in their infancy. So given its practice of managing profits to what it views as the minimally acceptable level, orienting its strategy toward snapping up market share seems the more appropriate path to creating dominant long-term positions in its core markets. Especially given the recent selling pressure on its shares, Amazon is becoming an increasingly intriguing option for tech investors today -- a sentiment I don't think can be argued for GoPro.</p>
<p>2. GoProThe uber-volatile action-camera maker simply can't catch a break. After announcing preliminary earnings on Jan. 13 that registered markedly below its previous guidance, GoPro came through with an earnings announcement last week that triggered yet another knee-jerk downward move in its shares.</p>
<p><a href="http://ycharts.com/companies/GPRO" type="external">GPRO</a> data by <a href="http://ycharts.com" type="external">YCharts</a></p>
<p>Unlike Amazon's earnings, GoPro's recent report offered few silver linings. Faced with a raft of similar products flooding the market and perhaps a smaller potential customer base than previously assumed, GoPro may be looking at less of a market opportunity than many investors imagined. Here's how the company's financial performance broke down in the recent quarter.</p>
<p>Source: GoPro investor relations, Yahoo! Finance; revenue figures in $US millions.</p>
<p>In addition to sales grossly missing their estimates, device sales also slowed markedly during the quarter. GoPro shipped a total of just over 2 million devices, down 16% from the 2.38 million units it sold Q4 of last year. From just about every angle, it appears GoPro's business momentum has stalled.</p>
<p>As GoPro limps onward, the core investing question is likely to shift to whether the company can ever attain long-term profitability. I've always been skeptical about GoPro's investing thesis. To me, there was just never a meaningful enough degree of differentiation between GoPro's products, which left the door open for the explosion of competitors we've seen enter the market in recent years.The annals of tech investing are littered with innovative hardware companies that eventually become commoditized. The smartphone and PC markets are two noteworthy examples, and a similar fate for GoPro seems plausible unless the company can rapidly improve its product-development roadmap.</p>
<p>3. LinkedIn Among the tech companies highlighted here, business social networking site LinkedIn's shares were savaged the most. However, this drubbing also makes LinkedIn's shares perhaps the most interesting for investors.</p>
<p><a href="http://ycharts.com/companies/LNKD" type="external">LNKD</a> data by <a href="http://ycharts.com" type="external">YCharts</a></p>
<p>LinkedIn actually beat analyst estimates in its Q4 report. And though its forward-looking guidance came in softer than expected, the subsequent sell-off it ignited seems overblown.</p>
<p>For the coming year, LinkedIn stated it expects to earn earnings-per-share between $3.05-$3.20 on revenue somewhere between $3.6 billion-$3.65 billion. This fell short of analysts' average expectation of EPS of $3.67 on revenue of $3.9 billion. Though not necessarily clear, it's likely this lower-than-expected forward guidance rattled investors at a time when growth investors have proven especially jumpy. Amid the market's volatility in the past month, tech-related stocks have underperformed the broad market by a factor of nearly 2x. What's more, as we saw in the case of Amazon and GoPro, the market clearly won't not hesitate to punish companies of all qualities for showing the slightest sign of slowing growth in the current market environment. As painful as it can be for its shareholders, LinkedIn appears to have picked the wrong time to provide the market an earnings report causing even the slightest modicum of fear to jumpy growth investors.</p>
<p>Looking to the quarter itself, LinkedIn actually performed quite well, beating analyst's estimates on both the top and bottom lines. Full-year revenue grew 35%. The company continued to add users, and LinkedIn made observable improvements within each of its three core revenue segments.</p>
<p>Source: LinkedIn investor relations, Yahoo! Finance.</p>
<p>Worth noting, like most tech companies, LinkedIn did use a fair amount of stock-based compensation (SBC) in order to attract talent, which weighed on its GAAP results. LinkedIn awarded $134 million in SBC to employees, a non-cash expense. However, based largely on the magnitude of LinkedIn's SBC, its GAAP and non-GAAP net income came in at -$8.4 million and $125 million respectively.</p>
<p>Stock-based comps notwithstanding, LinkedIn posted a relatively impressive performance for the quarter. The company still expects to grow at over 20% in 2016, and it has a clear path toward profitability for its three core reporting segments. What's more, trading at 25 timesits forward earnings, LinkedIn presents a strong case in favor for buying at these "depressed" prices, especially considering its sound long-term competitive positioning. True, growth is slowing, like all maturing companies. However, with sales still set to climb well into the double-digits for the year ahead, LinkedIn's investing thesis remains anything but broken.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/02/18/as-amazon-linkedin-and-gopro-flunk-earnings-season.aspx" type="external">As Amazon, LinkedIn, and GoPro Flunk Earnings Season, What Went Wrong?</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFTheDude/info.aspx?source=eptfxblnk0000004" type="external">Andrew Tonner</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Amazon.com, Facebook, GoPro, and LinkedIn. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy</a>.</p> | true | 0 | much like recent celebrations chinese new year earnings season technology investors saw fair share fireworks continue reading though produced several successes quarters crop earnings reports also featured disappointments quarter recent memory names amazoncom gopro linkedin stumbling along several highprofile tech companies sift rubble search opportunity lets review earnings meltdowns amazon gopro linkedin see investors approach shares 1 amazoncom classic amazon fashion worlds dominant ecommerce site delivered quarterly annual results featuring prodigious sales growth delivering meager profits market hoped better sending amazon stock sharply lower day earnings release amzn data ycharts familiar companys longterm landgrab strategy amazons report come surpriseheres quick snapshot amazons performance advertisement sources amazon investor relations yahoo finance revenue figures us billions big picture amazon remains laser focused strategy aggressively cutting costs lowering prices gain market share cloud computing ecommerce two massive longterm secular growth markets still infancy given practice managing profits views minimally acceptable level orienting strategy toward snapping market share seems appropriate path creating dominant longterm positions core markets especially given recent selling pressure shares amazon becoming increasingly intriguing option tech investors today sentiment dont think argued gopro 2 goprothe ubervolatile actioncamera maker simply cant catch break announcing preliminary earnings jan 13 registered markedly previous guidance gopro came earnings announcement last week triggered yet another kneejerk downward move shares gpro data ycharts unlike amazons earnings gopros recent report offered silver linings faced raft similar products flooding market perhaps smaller potential customer base previously assumed gopro may looking less market opportunity many investors imagined heres companys financial performance broke recent quarter source gopro investor relations yahoo finance revenue figures us millions addition sales grossly missing estimates device sales also slowed markedly quarter gopro shipped total 2 million devices 16 238 million units sold q4 last year every angle appears gopros business momentum stalled gopro limps onward core investing question likely shift whether company ever attain longterm profitability ive always skeptical gopros investing thesis never meaningful enough degree differentiation gopros products left door open explosion competitors weve seen enter market recent yearsthe annals tech investing littered innovative hardware companies eventually become commoditized smartphone pc markets two noteworthy examples similar fate gopro seems plausible unless company rapidly improve productdevelopment roadmap 3 linkedin among tech companies highlighted business social networking site linkedins shares savaged however drubbing also makes linkedins shares perhaps interesting investors lnkd data ycharts linkedin actually beat analyst estimates q4 report though forwardlooking guidance came softer expected subsequent selloff ignited seems overblown coming year linkedin stated expects earn earningspershare 305320 revenue somewhere 36 billion365 billion fell short analysts average expectation eps 367 revenue 39 billion though necessarily clear likely lowerthanexpected forward guidance rattled investors time growth investors proven especially jumpy amid markets volatility past month techrelated stocks underperformed broad market factor nearly 2x whats saw case amazon gopro market clearly wont hesitate punish companies qualities showing slightest sign slowing growth current market environment painful shareholders linkedin appears picked wrong time provide market earnings report causing even slightest modicum fear jumpy growth investors looking quarter linkedin actually performed quite well beating analysts estimates top bottom lines fullyear revenue grew 35 company continued add users linkedin made observable improvements within three core revenue segments source linkedin investor relations yahoo finance worth noting like tech companies linkedin use fair amount stockbased compensation sbc order attract talent weighed gaap results linkedin awarded 134 million sbc employees noncash expense however based largely magnitude linkedins sbc gaap nongaap net income came 84 million 125 million respectively stockbased comps notwithstanding linkedin posted relatively impressive performance quarter company still expects grow 20 2016 clear path toward profitability three core reporting segments whats trading 25 timesits forward earnings linkedin presents strong case favor buying depressed prices especially considering sound longterm competitive positioning true growth slowing like maturing companies however sales still set climb well doubledigits year ahead linkedins investing thesis remains anything broken article amazon linkedin gopro flunk earnings season went wrong originally appeared foolcom andrew tonner position stocks mentioned motley fool owns shares recommends amazoncom facebook gopro linkedin try foolish newsletter services free 30 days fools may hold opinions believe considering diverse range insights makes us better investors motley fool disclosure policy copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy | 698 |
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<p>Salon.com recently posted an article on their website titled, “ <a href="http://www.salon.com/2015/09/21/im_a_pedophile_but_not_a_monster/" type="external">I’m a pedophile, but not a monster</a>.” It included the byline “I’m attracted to children but unwilling to act on it. Before judging me harshly, would you be willing to listen?”</p>
<p>Todd Nickerson is the author and yes, he honestly and openly admits to being a <a href="" type="internal">pedophile</a>.</p>
<p>“My name is Todd Nickerson, and I’m a pedophile,” he wrote. “Does that surprise you? Yeah, not many of us are willing to share our story, for good reason. To confess a sexual attraction to children is to lay claim to the most reviled status on the planet, one that effectively ends any chance you have of living a normal life. Yet, I’m not the monster you think me to be. I’ve never touched a child sexually in my life and never will, nor do I use child pornography.”</p>
<p>One can hope that at least Nickerson is honest that he has not engaged in the activities which he claims he has not. His claim to “orientation” and comparing it to sodomites is interesting though. He doesn’t claim to be born that way, but recognizes a “sexual preference” around the age of puberty. Clearly, as has been discussed by Shea Bernard, everyone is born to be heterosexual. There is no gene or scientific evidence to prove anyone is born anything other than that.</p>
<p>However, as you read his account of sexual abuse at a young age at the hands of a German man, and his grandparents covering it up, there is a part of you that does feel sorry for him as a child. He was confused, vulnerable and such. However, thought he could recall his sexual abuse at a young age, he claims that he hardly felt it warranted what his father said should be done to a criminal who sexually abused a girl: “They should take people like that and place weights on top of their genitals until they smash.”</p>
<p>Jesus actually went further:</p>
<p>But whoso shall offend one of these little ones which believe in me, it were better for him that a millstone were hanged about his neck, and that he were drowned in the depth of the sea. –Matt. 18:6</p>
<p>After Nickerson tells his life story, he ends up telling others who thinks as he does to seek help for their perversion, and it is a perversion of mind. As a man thinks in his heart, so is he (Prov 23:7).</p>
<p>Confessing one’s sins, and make no mistake thinking about engaging little children in sexual intercourse or sodomy is sin and does need to be repented of, especially concerning this matter is something that needs to be handled before God and in a setting where there is true Christian accountability to counsel from the Scriptures and point such a person towards Christ, the law and repentance towards God. It should not be aired out in a lengthy article telling people they are not a “monster” and not to judge them too “harshly.”</p>
<p>And this is the point. I think Steven Crowder tried to deal fairly in his piece on the article. He <a href="http://louderwithcrowder.com/no-salon-com-i-dont-need-to-understand-the-plight-of-pedophiles/" type="external">wrote</a>:</p>
<p>Here’s the problem with the title and the byline: it’s misleading. The article is written by a pedophile who says he’s never touched a child and never would. The man, who identifies himself as Todd Nickerson, agrees that it’s wrong to both be attracted to children and to act upon that attraction. He then goes on a long diatribe about his past, the abuse he’s encountered, why we should be understanding in place of judgmental, blahblahblahblahblah. Finally, At the end of the long article is a call to action for pedophiles to get help, to seek advice and to find a solution to their sexual attraction to children. That’s not the argument here. It’s good that Nickerson wants other pedophiles to get help for their sexual desires. Not arguing with that. Okay? Okay.</p>
<p>BUT, the call to action of getting help for pedophilia is after Nickerson recounts his childhood disability, the time he was molested, and about being an outsider. Nickerson paints himself a victim in hopes of garnering your sympathy, and if you didn’t finish the entire article, the impression your left with is simply this: Salon.com is trying to normalize and de-stigmatize pedophilia.</p>
<p>…</p>
<p>My entire problem with the article isn’t with Nickerson so much as it is with Salon.com, for allowing the article to be framed in a misleading way, and titling it “I’m a Pedophile, But I’m not a Monster,” with a byline that calls for understanding and admonishes its readers for pre-judging someone who just admitting to being a pedophile. That’s one of the problems with this article.</p>
<p>…</p>
<p>If the first and only goal was for pedophiles to seek help, the article should’ve been titled: “I’m a Pedophile, I’m a Monster and I Got Help,” with the byline I’ve never once touched a child and never would. And neither should you. With the first paragraphs of the article beginning with the last paragraphs of the existing piece.</p>
<p>To make the point further, Crowder wondered if Salon would have run the article, but instead of pedophilia, the issue was racism. “Would Salon.com run this article? ‘I’m a Racist, But I’m Not a Monster: I’ve never discriminated against a black man and I never would. Before judging me harshly, would you be willing to listen?'”</p>
<p>See how that works? He then offered another suggested title, “I’m a College Fraternity Brother and I Have Rape Fantasies, But I’m Not a Monster.”</p>
<p>I’m guessing Salon wouldn’t run either of those articles.</p>
<p>Crowder echoed the <a href="http://freedomoutpost.com/2015/03/for-those-who-refer-biblical-law-as-nothing-more-than-sharia-law-heres-your-sign/" type="external">teachings of Biblical law</a> and the words of Christ when he added, “I still have a steadfast rule: touch a kid sexually and you deserve a <a href="http://www.anrdoezrs.net/click-7501369-11795394-1424376696000" type="external">bullet</a>.”</p>
<p>“This shocks you?” he continued. “Well let me ask this? If a pedophile touching a kid doesn’t warrant a red-line… what the hell does? The left wants us to be more concerned with inanimate objects like guns than the incredible liability of pedophiles. If I sound harsh, it’s deliberate. There’s a certain point you cross where I no longer care about your past, the injustices you’ve experienced or how little daddy hugged you.”</p>
<p>I one hundred percent agree. When the thoughts become actions, justice must be administered.</p>
<p>Those who think in a manner such as <a href="" type="internal">pedophiles</a>, <a href="" type="internal">sodomites</a>, murderers, <a href="" type="internal">rapists</a>, racists and others need serious help. Of that there is no doubt, but that help is not found in psychiatry because it is based in humanism. The kind of help those who are <a href="" type="internal">pedophiles</a>, racists, or rapists in their thinking, I’m not talking about actions yet, comes through holding up the standard of <a href="http://www.amazon.com/gp/product/B005G5VFMG/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B005G5VFMG&amp;linkCode=as2&amp;tag=freedomoutpos-20&amp;linkId=5W3KKHH3J6NFOUV4" type="external">God’s law</a> to condemn their sinful thoughts. Then they need to be shown a Savior from such sin, which is found in the Gospel of Jesus Christ.</p>
<p>If left to themselves, they will inevitably act on their thoughts. Then the issue is no longer between just them and God. Now, someone else is involved and justice in this life must be meted out. I do hope those who think this way, including Mr. Nickerson, will indeed discover the kind of freedom that Christ provides to sinners who desperately seek to be delivered from their sin, not be encouraged to think it is somehow the new normal.</p>
<p>Courtesy of <a href="http://freedomoutpost.com/2015/09/salon-com-looks-to-normalize-pedophilia/" type="external">Freedom Outpost</a>.</p>
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<p /> | true | 0 | saloncom recently posted article website titled im pedophile monster included byline im attracted children unwilling act judging harshly would willing listen todd nickerson author yes honestly openly admits pedophile name todd nickerson im pedophile wrote surprise yeah many us willing share story good reason confess sexual attraction children lay claim reviled status planet one effectively ends chance living normal life yet im monster think ive never touched child sexually life never use child pornography one hope least nickerson honest engaged activities claims claim orientation comparing sodomites interesting though doesnt claim born way recognizes sexual preference around age puberty clearly discussed shea bernard everyone born heterosexual gene scientific evidence prove anyone born anything however read account sexual abuse young age hands german man grandparents covering part feel sorry child confused vulnerable however thought could recall sexual abuse young age claims hardly felt warranted father said done criminal sexually abused girl take people like place weights top genitals smash jesus actually went whoso shall offend one little ones believe better millstone hanged neck drowned depth sea matt 186 nickerson tells life story ends telling others thinks seek help perversion perversion mind man thinks heart prov 237 confessing ones sins make mistake thinking engaging little children sexual intercourse sodomy sin need repented especially concerning matter something needs handled god setting true christian accountability counsel scriptures point person towards christ law repentance towards god aired lengthy article telling people monster judge harshly point think steven crowder tried deal fairly piece article wrote heres problem title byline misleading article written pedophile says hes never touched child never would man identifies todd nickerson agrees wrong attracted children act upon attraction goes long diatribe past abuse hes encountered understanding place judgmental blahblahblahblahblah finally end long article call action pedophiles get help seek advice find solution sexual attraction children thats argument good nickerson wants pedophiles get help sexual desires arguing okay okay call action getting help pedophilia nickerson recounts childhood disability time molested outsider nickerson paints victim hopes garnering sympathy didnt finish entire article impression left simply saloncom trying normalize destigmatize pedophilia entire problem article isnt nickerson much saloncom allowing article framed misleading way titling im pedophile im monster byline calls understanding admonishes readers prejudging someone admitting pedophile thats one problems article first goal pedophiles seek help article shouldve titled im pedophile im monster got help byline ive never touched child never would neither first paragraphs article beginning last paragraphs existing piece make point crowder wondered salon would run article instead pedophilia issue racism would saloncom run article im racist im monster ive never discriminated black man never would judging harshly would willing listen see works offered another suggested title im college fraternity brother rape fantasies im monster im guessing salon wouldnt run either articles crowder echoed teachings biblical law words christ added still steadfast rule touch kid sexually deserve bullet shocks continued well let ask pedophile touching kid doesnt warrant redline hell left wants us concerned inanimate objects like guns incredible liability pedophiles sound harsh deliberate theres certain point cross longer care past injustices youve experienced little daddy hugged one hundred percent agree thoughts become actions justice must administered think manner pedophiles sodomites murderers rapists racists others need serious help doubt help found psychiatry based humanism kind help pedophiles racists rapists thinking im talking actions yet comes holding standard gods law condemn sinful thoughts need shown savior sin found gospel jesus christ left inevitably act thoughts issue longer god someone else involved justice life must meted hope think way including mr nickerson indeed discover kind freedom christ provides sinners desperately seek delivered sin encouraged think somehow new normal courtesy freedom outpost | 604 |
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<p>More than half the people outside the government who met with Hillary Clinton while she was secretary of state gave money — either personally or through companies or groups — to the Clinton Foundation. It's an extraordinary proportion indicating her possible ethics challenges if elected president.</p>
<p>Continue Reading Below</p>
<p>Donors who were granted time with Clinton included an internationally known economist who asked for her help as the Bangladesh government pressured him to resign from a nonprofit bank he ran; a Wall Street executive who sought Clinton's help with a visa problem; and Estee Lauder executives who were listed as meeting with Clinton while her department worked with the firm's corporate charity to counter gender-based violence in South Africa.</p>
<p>They are among at least 85 of 154 people with private interests who either met or had phone conversations scheduled with Clinton and also gave to her family's charities, according to a review of State Department calendars released so far to The Associated Press. Combined, the 85 donors contributed as much as $156 million. The 154 does not include U.S. federal employees or foreign government representatives.</p>
<p>The AP's findings represent the first systematic effort to calculate the scope of the intersecting interests of Clinton foundation donors and people who met personally with Clinton or spoke to her by phone about their needs.</p>
<p>The meetings between the Democratic presidential nominee and foundation donors do not appear to violate legal agreements Clinton and former president Bill Clinton signed before she joined the State Department in 2009. But the frequency of the overlaps shows the intermingling of access and donations, and fuels perceptions that giving the foundation money was a price of admission for face time with Clinton. Her calendars and emails released as recently as this week describe scores of contacts she and her top aides had with foundation donors.</p>
<p>Clinton's campaign said the AP analysis was flawed because it did not include in its calculations meetings with foreign diplomats or U.S. government officials, and the meetings AP examined covered only the first half of Clinton's tenure as secretary of state.</p>
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<p>"It is outrageous to misrepresent Secretary Clinton's basis for meeting with these individuals," spokesman Brian Fallon said. He called it "a distorted portrayal of how often she crossed paths with individuals connected to charitable donations to the Clinton Foundation."</p>
<p>Republican presidential nominee Donald Trump fiercely criticized the links between the Clinton Foundation and the State Department. "It is impossible to figure out where the Clinton Foundation ends and the State Department begins," he said at a rally Tuesday night in Austin, Texas. "It is now abundantly clear that the Clintons set up a business to profit from public office."</p>
<p>State Department officials have said they are not aware of any agency actions influenced by the Clinton Foundation. State Department spokesman Mark Toner said Tuesday night that there are no prohibitions against agency contacts with "political campaigns, non-profits or foundations — including the Clinton Foundation." He added that "meeting requests, recommendations and proposals come to the department through a variety of channels, both formal and informal."</p>
<p>Last week, the Clinton Foundation moved to head off ethics concerns about future donations by announcing changes planned if she is elected. Those planned changes would not affect more than 6,000 donors who have already provided the Clinton charity with more than $2 billion in funding since its creation in 2000.</p>
<p>"There's a lot of potential conflicts and a lot of potential problems," said Douglas White, an expert on nonprofits at Columbia University. "The point is, she can't just walk away from these 6,000 donors."</p>
<p>Fallon said earlier Tuesday the standard set by the Clinton Foundation's ethics restrictions was "unprecedented, even if it may never satisfy some critics."</p>
<p>Muhammad Yunus, a Bangladeshi economist who won the 2006 Nobel Peace Prize for pioneering low-interest "microcredit" for poor business owners, met with Clinton three times and talked with her by phone during a period when Bangladeshi government authorities investigated his oversight of a nonprofit bank and ultimately pressured him to resign from the bank's board. Throughout the process, he pleaded for help in messages routed to Clinton, and she ordered aides to find ways to assist him.</p>
<p>Grameen America, the bank's nonprofit U.S. flagship, which Yunus chairs, has given between $100,000 and $250,000 to the foundation — a figure that bank spokeswoman Becky Asch said reflects the institution's annual fees to attend CGI meetings. Another Grameen arm chaired by Yunus, Grameen Research, has donated between $25,000 and $50,000.</p>
<p>In another case, Clinton was host at a September 2009 breakfast meeting at the New York Stock Exchange that listed Blackstone Group chairman Stephen Schwarzman as one of the attendees. Schwarzman's firm is a major Clinton Foundation donor, but he personally donates heavily to GOP candidates and causes. The next day, according to Clinton emails, the State Department was working on a visa issue at Schwarzman's request. In December that same year, Schwarzman and his wife, Christine, sat at Clinton's table during the Kennedy Center Honors.</p>
<p>Blackstone donated between $250,000 and $500,000 to the Clinton Foundation. Eight Blackstone executives also gave between $375,000 and $800,000 to the foundation. And Blackstone's charitable arm has pledged millions of dollars in commitments to three Clinton Global aid projects ranging from the U.S. to the Mideast. Blackstone officials did not make Schwarzman available for comment.</p>
<p>And in June 2011, Clinton met with Nancy Mahon of MAC AIDS, the charitable arm of MAC Cosmetics, which is owned by Estee Lauder. The meeting occurred before an announcement about a State Department partnership with MAC AIDS to raise money to finance AIDS education and prevention.</p>
<p>The MAC AIDS fund donated between $5 million and $10 million to the Clinton Foundation and several million more in commitments to programs through the Clinton Global Initiative.</p> | true | 0 | half people outside government met hillary clinton secretary state gave money either personally companies groups clinton foundation extraordinary proportion indicating possible ethics challenges elected president continue reading donors granted time clinton included internationally known economist asked help bangladesh government pressured resign nonprofit bank ran wall street executive sought clintons help visa problem estee lauder executives listed meeting clinton department worked firms corporate charity counter genderbased violence south africa among least 85 154 people private interests either met phone conversations scheduled clinton also gave familys charities according review state department calendars released far associated press combined 85 donors contributed much 156 million 154 include us federal employees foreign government representatives aps findings represent first systematic effort calculate scope intersecting interests clinton foundation donors people met personally clinton spoke phone needs meetings democratic presidential nominee foundation donors appear violate legal agreements clinton former president bill clinton signed joined state department 2009 frequency overlaps shows intermingling access donations fuels perceptions giving foundation money price admission face time clinton calendars emails released recently week describe scores contacts top aides foundation donors clintons campaign said ap analysis flawed include calculations meetings foreign diplomats us government officials meetings ap examined covered first half clintons tenure secretary state advertisement outrageous misrepresent secretary clintons basis meeting individuals spokesman brian fallon said called distorted portrayal often crossed paths individuals connected charitable donations clinton foundation republican presidential nominee donald trump fiercely criticized links clinton foundation state department impossible figure clinton foundation ends state department begins said rally tuesday night austin texas abundantly clear clintons set business profit public office state department officials said aware agency actions influenced clinton foundation state department spokesman mark toner said tuesday night prohibitions agency contacts political campaigns nonprofits foundations including clinton foundation added meeting requests recommendations proposals come department variety channels formal informal last week clinton foundation moved head ethics concerns future donations announcing changes planned elected planned changes would affect 6000 donors already provided clinton charity 2 billion funding since creation 2000 theres lot potential conflicts lot potential problems said douglas white expert nonprofits columbia university point cant walk away 6000 donors fallon said earlier tuesday standard set clinton foundations ethics restrictions unprecedented even may never satisfy critics muhammad yunus bangladeshi economist 2006 nobel peace prize pioneering lowinterest microcredit poor business owners met clinton three times talked phone period bangladeshi government authorities investigated oversight nonprofit bank ultimately pressured resign banks board throughout process pleaded help messages routed clinton ordered aides find ways assist grameen america banks nonprofit us flagship yunus chairs given 100000 250000 foundation figure bank spokeswoman becky asch said reflects institutions annual fees attend cgi meetings another grameen arm chaired yunus grameen research donated 25000 50000 another case clinton host september 2009 breakfast meeting new york stock exchange listed blackstone group chairman stephen schwarzman one attendees schwarzmans firm major clinton foundation donor personally donates heavily gop candidates causes next day according clinton emails state department working visa issue schwarzmans request december year schwarzman wife christine sat clintons table kennedy center honors blackstone donated 250000 500000 clinton foundation eight blackstone executives also gave 375000 800000 foundation blackstones charitable arm pledged millions dollars commitments three clinton global aid projects ranging us mideast blackstone officials make schwarzman available comment june 2011 clinton met nancy mahon mac aids charitable arm mac cosmetics owned estee lauder meeting occurred announcement state department partnership mac aids raise money finance aids education prevention mac aids fund donated 5 million 10 million clinton foundation several million commitments programs clinton global initiative | 580 |
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<p>If talking to debt collectors is not your idea of fun, take heart. There is a fast-growing alternative for people with overdue bills: virtual debt negotiation.</p>
<p>Continue Reading Below</p>
<p>Collection agencies are setting up websites where computers do the work of live collectors. Using a PC or a smartphone you can review the claim, set up a monthly repayment plan -- or even make a deal that wipes out part of your debt.</p>
<p>"Some people don't want to have to talk to another person and explain the circumstances," said David Yohe, marketing director at BillingTree, a payment processor that tracks collection industry trends. "Shame is probably too strong a word -- maybe there is slight embarrassment."</p>
<p>Or maybe the shame belongs to the person on the other end of the phone. Harassment and threats by collection agents make the industry a magnet for <a href="http://www.creditcards.com/credit-card-news/true-debt-collection-horror-tales-1282.php?aid=52aae854" type="external">consumer complaints</a>.</p>
<p>Fair -- if impersonal -- treatment is one of the upsides of dealing with a virtual collector. But there are pitfalls to watch out for also, as the limitations of online collecting make it a poor fit for some bills.</p>
<p>"It has its downsides," said Manuel Newberger, an attorney who represents debt collection companies.&#160; "You're depending on computer logic -- you don't have the human empathy factor."</p>
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<p>Fast-Growing Technology</p>
<p>About 10% of collection agencies use virtual debt negotiation as part of their online portals, according to a survey of 150 companies by BillingTree and the industry journal Inside ARM. Nearly 30% of agencies said they plan to use virtual negotiation, making it one of the industry's fastest-growing technologies.</p>
<p>Collection companies say they are adopting the online systems to reduce the cost of hiring live agents, but that is just part of the reason. Another is to avoid lawsuits, complaints and regulatory hassles.&#160; The systems can be programmed to display all the disclosure statements required in the consumer's state. And since the consumer initiates the contact instead of a collection agent, abuses such as harassment and breach of privacy are moot.</p>
<p>"It's a fairly new tool -- the technology behind it is pretty slick," said Nick Jarman, chief operating officer at Delta Outsource Group, a debt collector based in O'Fallon, Missouri. After debtors type in a settlement offer, the system weighs the figure using rules set by the creditor. If the offer is too low, the system may make a counteroffer, or tell the debtor to try again. "It's almost like an actual collector," Jarman said, "without a human behind it."</p>
<p>Based on examples provided by software company Columbia Ultimate -- the supplier of Delta's system -- the pathway to virtual debt negotiation begins at the same starting point as most collection efforts: An old-fashioned letter in the mail. The debtor -- or supposed debtor -- should receive a letter stating the amount sought and the name of the creditor. If virtual collection is an option, the letter will contain a Web address for the collection portal, and an authentication number to use when entering the system.</p>
<p>In Columbia Ultimate's example, the first screen is a standard-looking login page that asks your name, the code number that was sent by mail and some identifying details, perhaps including the last four digits of your Social Security number.</p>
<p>Once access is granted, the next screen shows the amount you owe to the creditor, and a menu of options. The first option: Make a payment.</p>
<p>"The reason you see big buttons here is, we want to make it very simple to make a payment," said Jon Danne, sales manager for Columbia Ultimate.</p>
<p>You may split the entire amount due into two or three payments, or make a partial payment.</p>
<p>Look for Money-Saving Options</p>
<p>In Columbia Ultimate's demonstration, the options to spread out payments via a monthly payment plan or negotiate a partial settlement are not on the first menu. They lie beneath a button bearing the label "Explore options."</p>
<p>Within the option to make a settlement, an input window lets you enter a dollar amount as a payment offer. Using a mock debt for $1,055 as an example, Danne enters $875 as a settlement offer. The computer is not willing to go that low, and kicks back a hypothetical counteroffer of $1,029.</p>
<p>The tool for setting up a monthly payment plan lets him choose the monthly amount, within limits based on the overall length of the plan. "If I put in $1 a month, it's going to deny that," Danne said. A monthly payment plan spreads payments over a longer period than a settlement, but does not offer a discount on the amount due.</p>
<p>The negotiation process can be fine-tuned by the creditor and collection agency. Before making a counteroffer, the computer might analyze data about typical settlement agreements for the size, age and type of debt. If the analysis is more detailed, it might review the payment history of debtors in situations similar to yours.</p>
<p>"There are different models, depending on how much information you want the system to gather," Yohe of BillingTree said. "The intent of the system is to capture as much of the original balance as possible."</p>
<p>If you and the virtual collector reach an understanding, the next step is to go to a payment screen and seal the deal. In Columbia Ultimate's example, there is an option for a credit card payment, but most people in collections use a debit card or electronic check instead.</p>
<p>The payment triggers the system to send you a letter confirming the terms of the agreement -- or an e-mail, if you have given your e-mail address and permission to communicate electronically about your debt. Neuberger called the automatic creation of the letter a boon for the consumer, as the important follow-through correspondence can be overlooked by a collection agent in a rush to get to the next account. In addition, he said, you can take screen shots at any point during the process, to preserve a record of what went on between you and the virtual collector.</p>
<p>Digital has its Limits</p>
<p>Who is a good candidate for online debt collection? Many debts are not open to negotiation, agencies say, and many people being dunned for old debts are unlikely to pay a computer. Online collection is best suited to the willing payer or those able to "self-cure," in industry terms, Yohe said.</p>
<p>If you think there is a billing error or you aren't certain about the amount being claimed, online collection is definitely not the way to go. To dispute a debt, you'll need to speak with the agency and probably correspond with them to make sure your legal rights are preserved. Once you receive a dunning letter, you have 30 days to reply with a letter seeking verification that you owe the debt, under the <a href="http://www.creditcards.com/credit-card-news/help/fair-debt-collection-practices-act-6000.php?aid=52aae854" type="external">Fair Debt Collection Practices Act</a>.</p>
<p>Even if the debt is undisputed, you may be better off talking to a live agent. If you're having trouble finding ways to pay, &#160;the agent may have solutions you haven't thought of, agencies say. Some people will scoff at the idea of a helpful collection agent, but if you're trying to pay a bill, collectors are in your corner. They might help refile an insurance claim that has been initially rebuffed, for example, or explore possibilities of insurance coverage that you might be unaware you have.</p>
<p>"People might have access to money they didn't recognize," said Roger Weiss, president of collection agency CACi in St. Louis. "A good collector is a great consumer resource, because they talk to 50 or 60 people a day."</p>
<p>The Machine Gets Tough</p>
<p>Then there is the rigidity of the digital world, which can be difficult to deal with. For example, if a payment is late without an explanation, a monthly payment plan will fall through. The agency will demand the entire unpaid balance. A consumer has better odds of convincing a human collector to allow a brief delay than a machine, although some online systems can be set to allow for brief lapses of two or three days, agencies said.</p>
<p>While many collection agencies are adopting virtual collector technology, consumers are in less of a hurry to try it. Fewer than 1% of people dealing with CACi use the online portal, Weiss said -- and many of them do so after getting calls from a live agent.</p>
<p>"I think there's a lot of things a portal might not do for you -- yet," Weiss said. Technological improvements are in the works, however, that will make virtual collection more useful, he added. And consumers are increasingly comfortable taking care of their finances online during spare moments, a trend that could extend to paying overdue bills.</p>
<p>"If it's 1 o'clock in the morning and you can't sleep thinking about the debt," Jarman said, "you can go online and take care of it."</p>
<p>See related: <a href="http://www.creditcards.com/credit-card-news/help/10-tips-debt_collectors-6000.php?aid=52aae854" type="external">Tips for dealing with debt collectors</a></p> | true | 0 | talking debt collectors idea fun take heart fastgrowing alternative people overdue bills virtual debt negotiation continue reading collection agencies setting websites computers work live collectors using pc smartphone review claim set monthly repayment plan even make deal wipes part debt people dont want talk another person explain circumstances said david yohe marketing director billingtree payment processor tracks collection industry trends shame probably strong word maybe slight embarrassment maybe shame belongs person end phone harassment threats collection agents make industry magnet consumer complaints fair impersonal treatment one upsides dealing virtual collector pitfalls watch also limitations online collecting make poor fit bills downsides said manuel newberger attorney represents debt collection companies160 youre depending computer logic dont human empathy factor advertisement fastgrowing technology 10 collection agencies use virtual debt negotiation part online portals according survey 150 companies billingtree industry journal inside arm nearly 30 agencies said plan use virtual negotiation making one industrys fastestgrowing technologies collection companies say adopting online systems reduce cost hiring live agents part reason another avoid lawsuits complaints regulatory hassles160 systems programmed display disclosure statements required consumers state since consumer initiates contact instead collection agent abuses harassment breach privacy moot fairly new tool technology behind pretty slick said nick jarman chief operating officer delta outsource group debt collector based ofallon missouri debtors type settlement offer system weighs figure using rules set creditor offer low system may make counteroffer tell debtor try almost like actual collector jarman said without human behind based examples provided software company columbia ultimate supplier deltas system pathway virtual debt negotiation begins starting point collection efforts oldfashioned letter mail debtor supposed debtor receive letter stating amount sought name creditor virtual collection option letter contain web address collection portal authentication number use entering system columbia ultimates example first screen standardlooking login page asks name code number sent mail identifying details perhaps including last four digits social security number access granted next screen shows amount owe creditor menu options first option make payment reason see big buttons want make simple make payment said jon danne sales manager columbia ultimate may split entire amount due two three payments make partial payment look moneysaving options columbia ultimates demonstration options spread payments via monthly payment plan negotiate partial settlement first menu lie beneath button bearing label explore options within option make settlement input window lets enter dollar amount payment offer using mock debt 1055 example danne enters 875 settlement offer computer willing go low kicks back hypothetical counteroffer 1029 tool setting monthly payment plan lets choose monthly amount within limits based overall length plan put 1 month going deny danne said monthly payment plan spreads payments longer period settlement offer discount amount due negotiation process finetuned creditor collection agency making counteroffer computer might analyze data typical settlement agreements size age type debt analysis detailed might review payment history debtors situations similar different models depending much information want system gather yohe billingtree said intent system capture much original balance possible virtual collector reach understanding next step go payment screen seal deal columbia ultimates example option credit card payment people collections use debit card electronic check instead payment triggers system send letter confirming terms agreement email given email address permission communicate electronically debt neuberger called automatic creation letter boon consumer important followthrough correspondence overlooked collection agent rush get next account addition said take screen shots point process preserve record went virtual collector digital limits good candidate online debt collection many debts open negotiation agencies say many people dunned old debts unlikely pay computer online collection best suited willing payer able selfcure industry terms yohe said think billing error arent certain amount claimed online collection definitely way go dispute debt youll need speak agency probably correspond make sure legal rights preserved receive dunning letter 30 days reply letter seeking verification owe debt fair debt collection practices act even debt undisputed may better talking live agent youre trouble finding ways pay 160the agent may solutions havent thought agencies say people scoff idea helpful collection agent youre trying pay bill collectors corner might help refile insurance claim initially rebuffed example explore possibilities insurance coverage might unaware people might access money didnt recognize said roger weiss president collection agency caci st louis good collector great consumer resource talk 50 60 people day machine gets tough rigidity digital world difficult deal example payment late without explanation monthly payment plan fall agency demand entire unpaid balance consumer better odds convincing human collector allow brief delay machine although online systems set allow brief lapses two three days agencies said many collection agencies adopting virtual collector technology consumers less hurry try fewer 1 people dealing caci use online portal weiss said many getting calls live agent think theres lot things portal might yet weiss said technological improvements works however make virtual collection useful added consumers increasingly comfortable taking care finances online spare moments trend could extend paying overdue bills 1 oclock morning cant sleep thinking debt jarman said go online take care see related tips dealing debt collectors | 827 |
<p>This time of year, adviceon how to shape up financially starts flying like snowflakes in a blizzard: Quit buying that daily <a href="" type="internal">Starbucks</a>. Save money.Live within your means.</p>
<p>But making lasting changes is easier said than done, experts say. Replacingingrained, financially unhealthy habits with sound new ones requires time,discipline and a dive into the psyche to figure out why, exactly, you handlemoney the way you do.</p>
<p>Continue Reading Below</p>
<p>Psychologist G. AlanMarlatt refers to it as retraining the brain. "You have to look at habits aslearned behaviors," says Marlatt, director of the Addictive Behaviors ResearchCenter at the University of Washington in Seattle. "Bad habits are learned," hesays, "and they can be changed."</p>
<p>Below, Marlatt and otherexperts discuss eigtht ways to retrain your brain into healthy financial habits.</p>
<p>1. Figure out yourtriggers. Foul moods and feelings of being out of control can set off badhabits, such as overspending. Judy Belmont calls it the paradox of control:Spending might lend a temporary feeling of control, but in reality, it'sirrational. Belmont, a psychotherapist and life-skills educator in Allentown,Pa., compares such behavior to screaming during an argument. "They thinkthey're in control, but they're not," she says.</p>
<p>To reveal triggers, keep a <a href="http://www.creditcards.com/credit-card-news/foreman-big-four-expenses-budgeting-1580.php?aid=52aae854" type="external">financial journal Opens a New Window.</a> for three months, recording each purchase, including when andwhy it was made, says Buffalo-based author Cathi Brese Doebler. Doeblerself-published her book, "Ditch the Joneses, Discover Your Family," after successfullyrevamping her financial life to enable her and her family to live on oneincome. "If there is truly a problem, you'll see a pattern," says Doebler. Onceyou identify the pattern, you can catch -- and stop -- bad behavior before ithappens.</p>
<p>2. Sort out "wants" versus"needs." Kathy Nelson, a laboratory supervisor who lives in Pueblo, Colo.,wanted to give her two daughters a private education. So she did, even thoughthe public schools in her area have an excellent reputation. Nelson paidtuition with a check and put all her living expenses on a <a href="http://www.creditcards.com/low-interest.php?aid=52aae854" type="external">credit card Opens a New Window.</a>. "I wascoasting by," she says.</p>
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<p>Soon, Nelson coasted herway to $48,000 in credit card debt, most of it carrying a 24 percent annual percentagerate ( <a href="http://www.creditcards.com/glossary/term-annual-percentage-rate-apr.php?aid=52aae854" type="external">APR Opens a New Window.</a>). After talking with a credit counselor, she realized that while shewanted private school for her daughters, they didn't need it -- and it wasdestroying her financial future. She transferred the girls, now 12 and 9, to apublic school, where they're thriving socially and academically.</p>
<p>Nelson has whittled her <a href="http://www.creditcards.com/credit-card-news/help/8-things-to-know-about-credit-card-debt-6000.php?aid=52aae854" type="external">credit card debt Opens a New Window.</a> down to $10,000. Her daughters know why they switched schools, and as aresult, they are much more conscious of money and its value. "When we buy icecream, they get the kind that's on sale, and they know that if we see a movie,that's something special," Nelson says.</p>
<p>3. Think first, act second.The longer you ponder an action before actually taking it, the more likely thataction will be rational, experts say. Marlatt advises working through afour-part decision matrix, looking at the immediate consequences, positive andnegative, of giving in to an impulse, then looking at the same set ofconsequences if the impulse is not indulged. Not only does the matrix exploreevery corner of a decision, it also eats up a buzz-killing half-hour, he says.</p>
<p>Visual cues can haltimpulsive actions as well. Todd Mark stuck a picture of a famous mouse in hiswallet to remind himself of his long-term financial goal: a trip to DisneyWorld with his children. "Every time I opened my wallet, I looked at Mickey andthought, 'Do I really need this extra DVD or Wii game or whatever?'" says Mark,vice president of education for Consumer Credit Counseling Service of GreaterDallas, a nonprofit agency.</p>
<p>4. Start small. Whenembarking on a new, healthier financial life, start with a small, manageablestep. When Mark talks to his clients -- who, on average, carry $28,000 in credit carddebt -- he suggests different <a href="http://www.creditcards.com/credit-card-news/help/8-steps-cut-credit-card-debt-6000.php?aid=52aae854" type="external">strategies for paying off debt Opens a New Window.</a>. "It's notabout what's fastest or easiest," he says, "but it's the one that willreinforce you to stay on track."</p>
<p>One strategy, called laddering,calls for making <a href="http://www.creditcards.com/glossary/term-minimum-payment.php?aid=52aae854" type="external">minimum monthly payments Opens a New Window.</a> on all cards but one, and "throwingeverything else at the one with highest interest," Mark says. The immenserelief they feel at finally paying off that high interest card gives clientsmomentum to continue on the path toward financial health.</p>
<p>5. Think positively. Wordsand phrases can mean the difference between success and failure when it comesto forming new habits. One example is the word " <a href="http://www.creditcards.com/credit-card-news/foreman-budgeting-made-easy-1580.php?aid=52aae854" type="external">budget Opens a New Window.</a>," a favorite withfinancial planners. "It feels like deprivation, says Susan Hirshman, author of"Does This Make My Assets Look Fat? A Woman's Guide to Finding FinancialEmpowerment and Success." Hirshman, who lives in New York City, prefers"spending plan," a term that helps consumers focus on what they can enjoy, noton what they can't have.</p>
<p>6. Plan ahead. Makeshopping lists, and stick to them. Another trick: Bring only enough cash to thestore to buy what you need. Doebler goes so far as to advise giving not onlychildren, but the adults in a household a weekly allowance. She also advisestaking a trusted friend -- the kind who will help you rein in habits, not thekind who encourages indulgence -- along on big-ticket shopping trips.</p>
<p>7. Don't become a Puritan."People don't like to be deprived," says Belmont. Reward yourself for goodbehavior, such as finally paying off a car loan or credit card bill, with asmall, controlled indulgence. The operative word, she says, is "controlled."It needn't be a Coach handbag. How about a nice pair of socks?</p>
<p>8. Work through setbacks. Onetumble from the wagon -- an extravagant impulse buy or a late credit cardpayment, for example -- and it's easy to say, "I blew it," and then give up.Keep going, Marlatt says, adding that the first three months of any shape-upprogram are the toughest, and the highest risk period for backsliding.</p>
<p>Mark suggests alaser-sharp focus on the end result: More money in the bank, less worry aboutfinancial woes. He likens it to dieting. "Getting healthy might not be as muchfun as sitting around eating dessert," he says, "but you have to focus on howgood it will feel."</p>
<p><a href="" type="internal">See FOX Business' full coverage of Financial Resolutions</a></p>
<p>More from CreditCards.com:</p> | true | 0 | time year adviceon shape financially starts flying like snowflakes blizzard quit buying daily starbucks save moneylive within means making lasting changes easier said done experts say replacingingrained financially unhealthy habits sound new ones requires timediscipline dive psyche figure exactly handlemoney way continue reading psychologist g alanmarlatt refers retraining brain look habits aslearned behaviors says marlatt director addictive behaviors researchcenter university washington seattle bad habits learned hesays changed marlatt otherexperts discuss eigtht ways retrain brain healthy financial habits 1 figure yourtriggers foul moods feelings control set badhabits overspending judy belmont calls paradox controlspending might lend temporary feeling control reality itsirrational belmont psychotherapist lifeskills educator allentownpa compares behavior screaming argument thinktheyre control theyre says reveal triggers keep financial journal opens new window three months recording purchase including andwhy made says buffalobased author cathi brese doebler doeblerselfpublished book ditch joneses discover family successfullyrevamping financial life enable family live oneincome truly problem youll see pattern says doebler onceyou identify pattern catch stop bad behavior ithappens 2 sort wants versusneeds kathy nelson laboratory supervisor lives pueblo colowanted give two daughters private education even thoughthe public schools area excellent reputation nelson paidtuition check put living expenses credit card opens new window wascoasting says advertisement soon nelson coasted herway 48000 credit card debt carrying 24 percent annual percentagerate apr opens new window talking credit counselor realized shewanted private school daughters didnt need wasdestroying financial future transferred girls 12 9 apublic school theyre thriving socially academically nelson whittled credit card debt opens new window 10000 daughters know switched schools aresult much conscious money value buy icecream get kind thats sale know see moviethats something special nelson says 3 think first act secondthe longer ponder action actually taking likely thataction rational experts say marlatt advises working afourpart decision matrix looking immediate consequences positive andnegative giving impulse looking set ofconsequences impulse indulged matrix exploreevery corner decision also eats buzzkilling halfhour says visual cues haltimpulsive actions well todd mark stuck picture famous mouse hiswallet remind longterm financial goal trip disneyworld children every time opened wallet looked mickey andthought really need extra dvd wii game whatever says markvice president education consumer credit counseling service greaterdallas nonprofit agency 4 start small whenembarking new healthier financial life start small manageablestep mark talks clients average carry 28000 credit carddebt suggests different strategies paying debt opens new window notabout whats fastest easiest says one willreinforce stay track one strategy called ladderingcalls making minimum monthly payments opens new window cards one throwingeverything else one highest interest mark says immenserelief feel finally paying high interest card gives clientsmomentum continue path toward financial health 5 think positively wordsand phrases mean difference success failure comesto forming new habits one example word budget opens new window favorite withfinancial planners feels like deprivation says susan hirshman author ofdoes make assets look fat womans guide finding financialempowerment success hirshman lives new york city prefersspending plan term helps consumers focus enjoy noton cant 6 plan ahead makeshopping lists stick another trick bring enough cash thestore buy need doebler goes far advise giving onlychildren adults household weekly allowance also advisestaking trusted friend kind help rein habits thekind encourages indulgence along bigticket shopping trips 7 dont become puritanpeople dont like deprived says belmont reward goodbehavior finally paying car loan credit card bill asmall controlled indulgence operative word says controlledit neednt coach handbag nice pair socks 8 work setbacks onetumble wagon extravagant impulse buy late credit cardpayment example easy say blew give upkeep going marlatt says adding first three months shapeupprogram toughest highest risk period backsliding mark suggests alasersharp focus end result money bank less worry aboutfinancial woes likens dieting getting healthy might muchfun sitting around eating dessert says focus howgood feel see fox business full coverage financial resolutions creditcardscom | 613 |
<p>Big Lots (NYSE: BIG) Q3 2018 Earnings Conference CallDec, 1, 2017 8:00 a.m. ET</p>
<p>Continue Reading Below</p>
<p>Operator</p>
<p>Ladies and gentlemen, welcome to the Big Lots Q3 2017 Earnings Conference Call. This call is being recorded. During the session all lines will be muted until the question-and-answer session of the call. If you need audio assistance please press * 0 and an operator will assist you. At this time, I'd like to introduce today's speaker, Andy Regrut, vice president of investor relations.</p>
<p>Andy Regrut -- Vice President, Investor Relations</p>
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<p>Thanks, Emma and good morning, everyone. Thank you for joining us for our third-quarter conference call. With me here today in Columbus are David Campisi, our CEO and president; and Tim Johnson, executive vice president and chief administrative officer and chief financial officer. Before we get started, I'd like to remind you that any forward-looking statements we make on today's call involve risk and uncertainties and are subject to our Safe Harbor provisions as stated in our press release and our SEC filings and that actual results can differ materially from those described in our forward-looking statements.</p>
<p>All commentary today is focused on adjusted non-GAAP results. For the third quarter of Fiscal 2017, this excludes after-tax income of $1.9 million or $0.04 per diluted share associated with the gain from insurance recoveries on merchandise-related legal matters. Reconciliations of GAAP to non-GAAP adjusted earnings are available in today's press release. This morning, David will start the call with a few opening comments.</p>
<p>T.J. will review the financial highlights from the quarter and the outlook for Fiscal 2017. David will complete our prepared remarks before taking your questions. With that, I'll now turn the call over to David.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Thanks, Andy, and good morning, everyone. I'm very, very pleased with our third-quarter results, particularly given the constantly changing highly competitive retail environment. Historically, Q3 has been a challenging for Big, as the business transitions out of summer months and prepares for the holiday shopping season. However, our ownable and winnable merchandise strategies continue to produce consistent results.</p>
<p>Q3 increased 1%, which is in line with our guidance, and adjusted EPS was slightly above the high end of our guidance. From a merchandise category perspective, we experienced a healthier breadth of performance in Q3. Furniture was up low single digits on top of a 5% increase last year. Good job to Robert and the furniture team for growing sales and gaining market share again this quarter despite some high industrywide challenges over the Labor Day time period.</p>
<p>Mattresses performed the best, benefiting from new product and quality upgrades to our popular Serta program. Upholstery also performed well during the quarter as the quality and styling gets better each season. And our financing options of Easy Leasing and Big Lots credit card continued to be important to our strategy and drive year-over-year growth. Jennifer loves the recent change to the Easy Leasing program with $49 out the door is using it in a much bigger basket creating a bigger basket.</p>
<p>Consumables is next, also increased -- you know what, I skipped over something. Back up just for one second, Soft Home was actually up mid single digits up 6% -- my apologies to the team. Last year, it was strengthened bath, decorative, or this year it increased with bath, decorative, textiles, flooring, and frames. Great great job by Martha, Kevin, and the entire team for comping the comp with well-planned-out, coordinated strategies.</p>
<p>A successful expansion of the bath improved in space productivity and window and elevating QBFV and area rugs, which is driving higher average retail. And to back up one more time before we get into consumables, hard home, and food, another strong performance was seasonal, top performer with low double digits, Congratulations to Michelle, Steve, and the team for another excellent quarter. Q3 represents the fourth consecutive quarter of positive comps for this business. As the team leverages disciplines of QBFV -- quality brand, fashion, and value -- which you've heard us consistently saying for over 16 quarters, improving our offerings our new fall assortment of Harvest and Halloween were very good and the [Inaudible] modern garden in the summer was a major contributor, along with Harvest and Halloween in the quarter.</p>
<p>Looking forward, Christmas trim was set in the latter part of Q3 and early indications are quite encouraging as we head into December. Along with soft home, when I talked about furniture. Martha leads both of these teams with Robert and the team and Kevin. And she is a visionary and a real hard driver of this business.</p>
<p>And you can see why that's [Inaudible] and with why Michelle has got seasonal as the [Inaudible] business, along with food and consumables. And for the quarter, consumables also had a low single-digit increase, driven by NVO reset and expansion in over-the-counter, or OTC, health and beauty aids, which was completed in May. Stephen and the team have been diligently increasing the consistency of our offerings with national brands, and Jennifer is responding to the improvements. And you can see that in the significant way with more -- then [inaudible] I'm happy or thrilled to say that hard home comped slightly positive representing the first first positive comp since we started reporting the category separate from soft home in Q4 2013.</p>
<p>It's a very good result, given the business has been downsized in the stores as part of the added to amplify for the last three-plus years. Tabletop and home maintenance contribute to the growth, but maybe the most exciting change was a courageous, strategic shift in floor care, driven by really Martha, again, and Lisa obviously is behind all of the strategies as the chief merchant, but a major push on shift in floor care to move away from closeouts. And congratulations to Bob and his team for their perseverance and hard work. Next is food [Audio Gap] quarter delivery was stronger driven by new in-line beverage assortments added in September.</p>
<p>But it was offset by continued softness in the balance of food departments, where competition, as many of you know, in the food industry continues to get more intense and I believe we're holding our own when you look at some of the comps reported at traditional grocers. Electronics, toys, and accessories is next, but lower than last year, as space was downsized in spring to support future strategic growth in our ownable and winnable categories. Moving on to marketing and our online initiatives, Q3 was another good quarter for our e-commerce team. Operating loss better than planned and better than last year.</p>
<p>Our team continues to do a very good job of staying focused on the crawl, crawl, walk, run strategy. The marketing team also test the launch and big rewards with new features and enhancements that Jennifer told us she wanted in loyalty program for instance. Every third purchase reward -- Furniture purchases over $200 qualify for special rewards. We plan to surprise Jennifer on her birthday each year with a special incentive to shop Big Lots first.</p>
<p>Early indications and Jennifer feedback on our Joy to the World, holiday campaign has been very impressive. It's Joy to the World, but not a traditional voice. It's a Three Dog Night version from '70s, the fun and energy and true joy displayed across digital, TV, YouTube, Facebook, and Pandora, just to name a few, has elevated of our brand and more reflective of the brand identity we aim to portray in the future. The integration and collaboration between our marketing team, our creative agency, and our TRP, along with the our new placement firm, MediaStorm, has helped us raise our game for the holiday.</p>
<p>And I want to thank Lisa and T.J. for helping here in the absence of a chief customer officer. Both of them stepped in. TJ working, bringing MediaStorm in, and Lisa really spending a lot more time over the last, especially the last probably four, five month, but with intensity here in this last quarter, to make sure we have the right TV and the right creative briefs written for us, and you can see, it's our best ever yet.</p>
<p>A lot of heavy lifting in Q3 falls squarely on the shoulders of our supply chain and field organizations. Product flow peaks in late September to early November, and our logistics team under Carlos' leadership executed well in the increasingly difficult transportation environment. They delivered the merchandise to the field under Mike and Nick's leadership, the stores organization did a great job getting the setup for the holiday on time and on budget. We asked a lot of our teams during the time of the year, the peak time period moving into the quarter we're in right now and the execution of our store of the future testing.</p>
<p>And they rose to the challenge all while giving Jennifer, the friendly service she deserves. So a very, very busy quarter for our team and now, turn the call over to T.J. for additional insights on the numbers.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Thanks, David, and good morning, everyone. Net sales for the third quarter of Fiscal 2017 were $1.11 billion, an increase of 0.5% versus the $1.105 billion we reported last year. As our comp store sales increase was partially offset by a lower store count year-over-year. Comparable store sales for stores open at least 15 months plus e-commerce sales did increase 1%, which is in line with our guidance for a low single-digit increase.</p>
<p>As David detailed a moment ago, we experienced encouraging indicators of the improved breadth of performance across many of our businesses during Q3. As he noted, seasonal up low-double digits, soft home up mid-single digits, furniture up low single digits, as was consumables and hard home flat is more breadth than we've experienced in other quarters this year. Adjusted income for the third quarter was $2.5 million or $0.06 per diluted share, which compares to our guidance of $0.01 to $0.05 per diluted share and last year's adjusted income of $1.9 million or $0.04 per diluted share. Q3 is very much a transition quarter for our business as we prepare for the peak selling period of the holidays.</p>
<p>We incur higher levels of expense as we move significant amounts of merchandise from our DCs to our stores, and our field teams execute detailed in-store presentations in advance of the sales ramp up in November and December. The gross margin rate for Q3 was 39.9%, a 10 basis point decline from last year's third-quarter rate, which was in line with our expectations. Total adjusted expense dollars were $441 million, and the adjusted expense rate of 39.7% was flat to last year's adjusted rate. It is important to note here that the overall operating profit for the quarter was negatively impacted or lowered by approximately $2 million due to weather-related or hurricane-related costs.</p>
<p>So a negative impact of approximately $0.03 for the quarter. No complaints, no excuses, but important to understand, where the quality of Q3 would have been absent those costs. Interest expense for the quarter was $2.1 million compared to $1.7 million last year. Moving on to the balance sheet.</p>
<p>Inventory ended the third quarter of Fiscal 2017 at $1.038 billion, basically flat to last year's $1.036 billion as inventory levels per store increased 1%, partially offset by a lower overall store count year-over-year. During Q3, we opened 11 stores and closed 14 stores, leaving us with 1,426 stores and total selling square footage of 31.5 million. In the first three quarters of this year, we opened 19 stores and closed 25. We now believe we'll end Fiscal 2017 with 1,416 stores.</p>
<p>Capital expenditures for the third quarter of 2017 were $42 million compared to $27 million last year. And depreciation expense was $29.5 million, a slight decrease compared to last year. We ended the third quarter with $58 million of cash and cash equivalents and $372 million of borrowings under our credit facility. This compared to $60 million of cash and cash equivalents and $363 million of borrowings under our credit facility last year.</p>
<p>Our use of cash generated by operations was focused on reinvesting in the company's strategic initiative to support long-term growth, including the store of the future and returning cash to shareholders through both share repurchases and dividends. We expect to end Fiscal 2017 with debt of approximately $130 million. In the third quarter, we adjusted our 2017 share repurchase authorization. In total for the program, we invested $150 million, repurchased 3.1 million shares are approximately 7% of the company shares outstanding, at an average price of $48.04 per share, which is well below the current market price and below where we estimate the intrinsic value of our stock is.</p>
<p>As announced in the separate press release earlier today, on November 29, 2017, our board of directors declared a quarterly cash dividend of $0.25 per common share. This dividend payment of approximately $11 million is payable on December 29, 2017, to shareholders of record as of the close of business on December 15, 2017. Year-to-date, the combination of share repurchase activity and our quarterly dividend payments have returned approximately $184 million to shareholders. Now turning to forward guidance.</p>
<p>We have raised our estimate for Q4 income to be in the range of $2.35 to $2.40 per diluted share compared to prior guidance of $2.30 to $2.38 per diluted share. And compared to last year's adjusted income of $2.26 per diluted share. This guidance is based on comparable store sales in the range of flat to an increase of 2%. The gross margin rate for the fourth quarter is expected to be slightly down to last year, and expenses, as a percent of sales, are expected to be slightly lower than last year.</p>
<p>In terms of our outlook for the full year, we have increased our estimate for adjusted income to be in the range of $4.23 to $4.28 per diluted share compared to prior guidance of $4.15 to $4.25 per diluted share. This level of earnings would represent a 16% to 18% increase in adjusted EPS compared to adjusted income of $3.64 per diluted share in 2016. Our annual guidance is based on a comparable store sales increase of approximately 1%. And total sales up approximately 2% to last year, as the comp in the 53rd week are expected to be partially offset by a lower overall store count.</p>
<p>We believe this level of financial performance will result in cash flow of approximately $180 million. So with that, I'll turn the call back over to David.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Thanks, T.J. One thing that's not in the prepared remarks because T.J. helps me write these and I want to, before I speak about [inaudible] I'd also like to add what really drives the strength of this whole group here that we just talked about, in T.J.'s world, we have Carlos who has, under T.J., distribution and transportation, and Paul also has a big role in the finance world as well under T.J.'s. leadership, but you then, you take those three and you put Rocky and soon to be a person under marketing.</p>
<p>So I would tell you under that leadership, I mentioned earlier, with Lisa helping us get to the quarter end and T.J. in marketing. When you take a hard look at that, which you see is collaboration. All businesses don't execute what we're talking to you about without Paul, T.J., under their leadership, Lisa, Mike, Rocky, under the umbrella of how these guys collaborate is something that is hard to explain.</p>
<p>But the success of Big, I believe is we don't operate in silos, we operate together as a group and we get things done and make decisions and a much more collaborative effort because of that. And so with that being said, also under Mike's world, you have got stores reporting under him and he also has the human resource element of our company. Again, critical role that these guys all play to make the company collaborate and very successful. And that being said, I couldn't be more proud of how this team works together in a collaborative way.</p>
<p>So again, with that, I think I'll take the call over here from the standpoint of the last closing remarks. I would like to say that before we open the lines of communication, I'd like to share a few thoughts in closing. Q3 was another very good quarter for our company and the 16th consecutive quarter we met or exceeded our earnings guidance. I believe it's fair to say the strategies of the strategic plan or our SPP strategic planning process continue to work very well.</p>
<p>At our investors and analysts conference in September, we discussed the next three years of the SPP and how we will reposition the brand. We reviewed our research to gain deeper understanding of Jennifer, our new mission to serve everyone like family, our new vision of mission, vision, and values and our new brand line Serve Big, Save Lots. We also unveiled the store of the future and how we'll bring these brand principles to life with a fun, engaging shopping experience, showcasing furniture, seasonal, upfront as our ownable businesses and we've talked about for many quarters. And soft home with prominent positioning in the store as well.</p>
<p>The store of the future, future sidelines, color, coordinated way-finding storage for easier in-store navigation. Warm colors to the floors and walls, and increased number of visual decorating solutions for Jennifer and a focus on our local communities. An example of Serving Big is our national point-of-sale donation campaign for Nationwide Children's Hospital. For the third consecutive year, Big Lots associates and Jennifers from across the country participated in the campaign to support the life-saving work and research at NCH over 4.5-week period donations of $3.1 million were received, another successful campaign.</p>
<p>Our associates are highly energized and engaged in this campaign to do the right thing. Helping us to focus on being that community retailer, Jennifer wants us to be. Over the Thanksgiving weekend, our teams walked a lot of retail competitors and we believe our stores, merchandise assortments, and value propositions look very good, very, very good. And we're ready for Jennifer.</p>
<p>Our ownable and winnable merchandise strategy with trend-right tasteful assortments coordinated across furniture, Christmas trim, and soft home create relevance because they're a destination for Jennifer as she prepares for the holidays. At this point in season, however, comes down to one thing, which I believe we do better than anybody and that's execution, which is all about our people. My sincere thanks to our associates and our stores, the field organization, our distribution centers, and the office here in Columbus for their efforts and contributions and results for this quarter. Whether it be preparing for the holiday shopping season, planning for the investor and analyst conference, or giving back to the communities we serve through a variety of charitable initiatives, our team's dedication, passion, and focus and in which our culture and are a contributing factor to our strong financial results.</p>
<p>We're one team, one goal. And I have never been more excited for the future of our company. With that, I'll turn the call back over to Andy.</p>
<p>Andy Regrut -- Vice President, Investor Relations</p>
<p>Thanks, David. And will you please open the lines for questions at this time?</p>
<p>Operator</p>
<p>Ladies and gentlemen to ask a question please press *1 key on your telephone. To ensure that every question we ask that you limit your question to one per phone line. We will take our first question from Vincent Sinisi from Morgan Stanley</p>
<p>Vinny Sinisi -- Morgan Stanley -- Analyst</p>
<p>Hey, terrific. Thanks very much, guys, and good morning. Thanks for taking my question. I wanted to ask, is there any helpful category to hear the category color sounds like certainly the merchandising strategy is continuing to gain traction here.</p>
<p>I guess, maybe at the heart of the question is kind of the what you're seeing from your core consumer rate? With some of the category color, it sounds like certainly some of the more discretionary categories, seasonal, furniture doing very well. So with that kind of as the backdrop, how do you kind of see the consumer spending maybe so far kind of into the fourth quarter, right? Your guidance, maybe it's just a little early in the quarter, but kind of how are you seeing them, whether they the responding to most and then just kind of general overall health there?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Sure, Vinny, it's David. I would tell you that -- How you doing?</p>
<p>Vinny Sinisi -- Morgan Stanley -- Analyst</p>
<p>Good. Thank you.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>It's a good question. I would tell you, you know, from a product standpoint, as we've been saying for a long time, it continues to get stronger and stronger. And I know you're fairly new to the story, but we don't just check the boxes, and say, "We're done." We're always working on improved, sharpening the saw, continuous improvement, however you want to look at it. Our people clearly understand that thinking.</p>
<p>We talked about that SPP. We've got more things coming down the road next year and in Year 3. But as we navigate through that, and current today's environment from a product offering, we've never looked better in the store of the futures here in the Columbus, and while especially in Phoenix, it's amazing to see a store redone, and a new store here in Columbus that's a brand-new store with nothing inside the product, just absolutely, is incredible, and she has responded in a big way, no surprise, to furniture and seasonal, as well as soft home. And we're holding our own in food consumables, as I said, in the call, their food comp -- consumables comp -- positive and I would say that we're encouraged by -- it's early in the game -- but we're encouraged by the performance in the store of the future and in the food area as well and consumables.</p>
<p>But that being said, there, when you look at consumer thing you're asking about, she is in our stores. The customers, like all retailers, the Jennifers who shop Big Lots today, absolutely love Big Lots. And when they've seen this new format, that they're were confused according to T.J. and Michelle and we opened Phoenix.</p>
<p>Some folks walked out the door and had to come back in to make make sure they were in the right store. Just from a presentation point of view, so that's very encouraging as we navigate stores for T.J. how many years it's going to take us. It's not going to be just three years or two years.</p>
<p>Very encouraging. And again, we're seeing consistent, better traffic, albeit not enormously better than the national average, but it's pretty consistent in the quarter we've been ahead of and T.J. has that number, he can give you, but I would say that the -- second, but the traffic we're outperforming that piece. So she's seeing something that she likes.</p>
<p>And the key to the whole success of our future is how do you get new Jennifers. But again, across the board, as I said before, all of these guys are humming together, so from a consumer standpoint to give you a little bit of color, maybe on the small challenge, from a sales standpoint -- that was a business [Inaudible} but it's not an enormous thing. But it still everything impacts, but overall, we're seeing nice things happen across the board in that merchandising world. And it's critical that we continue to flow product properly and then we're happy with where we're at right now.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, Vinny, this is T.J. Let me just add on there a little bit. I think the easiest way to think about it's coming out of the third quarter, going out for the fourth quarter. The ownable and winnable pieces is particularly seasonal, soft home and furniture that performed well in the quarter, continued to have pretty good results as we start the holiday season, particularly in the month of November, we're encouraged to say we're positive from a comp perspective in November, comfortably within the range of guidance that we've given for the full quarter.</p>
<p>So clearly Jennifer's responding very positively, continues to respond very positively to own winnable. She is the sponsoring positively to the new seasonal assortments across the categories that are set in the stores. So we're very encouraged by those key attributes. Additionally, in the store of the future in those key markets where we've moved those categories forward, we're seeing very good results there.</p>
<p>So it just further emphasizes for us, the ownable businesses are key to the strategy going forward and it's working.</p>
<p>Vinny SInisi -- Morgan Stanley -- Analyst</p>
<p>OK. that's helpful color. Thank you, guys, and best of luck this quarter.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Thanks.</p>
<p>Operator</p>
<p>Thank you. We'll now go to our next question, from Dan Wewer from Raymond James. Please go [audio gap]</p>
<p>Dan Wewer -- Raymond James -- Analyst</p>
<p>Thanks. Can you provide a bit more commentary on the industry challenges in the furniture category, because if I'm looking at the data correctly, it looks like the last time that furniture was up low single digits was first quarter of 2014?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Sure, it's David. It's another good question. I would just tell you, not spent a lot of time on but we've spent a lot of time on furniture, obviously being our biggest business in the company. We have top in fact T.J.</p>
<p>and my entire team -- well, T.J. and Lisa and the all buyers with the CEO and his folks from Serta, we continue to outperform the industry and they showed us that information. That's been a tough business for a lot of folks. We're getting some market share there.</p>
<p>We built the product, it looks fantastic from the stores. A very small increase in price on their programs. And it's been really, really well-received. That being said, you're seeing huge negative numbers come out of the some of the other brands out there need to mention.</p>
<p>But more importantly, just in retail in general, they would tell -- they told us that we're definitely outperforming the rest of the guys out there. And that's part of our strategy of following into our furniture and the ownable businesses. And they definitely are saying there's some pressure, but they're looking at us and saying, we're in the sweet spot there. And you know that, that price point on the national level is not out there.</p>
<p>The ability to buy it today in upholstery, the same thing, but all those categories and take it home today has been a phenomenal success, along with T.J. and his team with the -- and the execution and Nick of the Progressive financing model out in the stores. And I think you definitely can give you a color, if you want on that. But he should because it's phenomenally successful driving.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>I think Dan, in addition to our David mentioned, clearly Martha and Robert and the team newness and you'll see across upholstery, and you see that with a reset in Serta, as David mentioned. You see that in fireplaces. So low single-digit comps for the quarter in Q3, clearly, we've performed better than that. It is important to notice the 15th quarter in a row, that category is comp positive.</p>
<p>So comp on comp continues to be the mantra there and the team is executing to it. We lease to purchase, continues to grow ever so slightly each quarter as a percent of the penetration. So we know that's working. The Big Lots credit card, we know that's working.</p>
<p>So additionally, as we move it forward in the store, more and more customers, it increases that awareness. In store of the future, we're seeing outsized furniture comps there. So we continue to think that we're on the right track in emphasizing furniture as an ownable category. I think from a third-quarter perspective, the only thing that was noticeable softness there for us was really over the Labor Day weekend.</p>
<p>It was just kind of very difficult across the furniture space. Serta supported that and David mentioned, but more broadly, when we look at other retailers and Lisa and Martha and Robert, that's being verified. So had Labor Day not been a soft period for us, I think our performance there would have been more positive. Additionally, as we come into the fourth quarter, as I mentioned in the month of November, furniture had a pretty decent month as well.</p>
<p>And what we could use a little bit help on, if you could help us with, is a little bit of cold weather because we do need to sell fireplaces in the fourth quarter and in the first quarter. So when the weather turns, that business will turn to because is confident in the quality.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>We'll figure out how to do that, Dan, will you give me and T.J. a call?</p>
<p>Dan Wewer -- Raymond James -- Analyst</p>
<p>OK. Thank you.</p>
<p>Operator</p>
<p>Thank you. We'll now take our next question, from Paul Trussell from Deutsche Bank.</p>
<p>Paul Trussell -- Deutsche Bank -- Analyst</p>
<p>Good morning.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Morning.</p>
<p>Paul Trussell -- Deutsche Bank -- Analyst</p>
<p>Just wanted to ask a few quick ones also on the top line. Just wanted to know. I apologize if I missed it. But if there was any impact that's notable from a hurricane standpoint to the top line or to EBIT.</p>
<p>And also if you can just take a bit more into the food and consumables business, particularly what are you seeing from a pricing and competition standpoint, how you think about your assortment heading into year-end?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Thanks, Paul, it's David. I'll now let T.J. talk to you a numbers question because it's definitely something you hear a lot out there and he and I and the team have a strong point of view about that on the flooding and hurricanes, et cetera. You've got other things that were actually more impactful.</p>
<p>They're impactful where the business will be, can offset some of that. And the last part of your question I'll take. T.J.?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Paul, so from a hurricane perspective, you didn't hear us call it out as a major challenge during the quarter from a sales perspective. And that's not because we didn't have stores that were impacted. But it's because of our business responds a little bit differently around these types of event. So we actually see a buildup or a lift in business ahead of weather-related events like this, as people stock up and kind of hunker down.</p>
<p>And that happened, whether it was in Texas or whether it was in Florida. And then obviously, when the event happens, traffic is tough across retail and then people come back out afterwards. So it's very difficult for us over a longer period of time to really with a straight face tell you what that impact was. There's something there, but it wasn't significant enough for us from a volume perspective from the quarter.</p>
<p>The more significant item of note, though, are two weather-related events. We actually had a challenge in one of our distribution centers where unrelated to a hurricane, we had some pretty severe roofing damage. And that caused us, all the way up to $1 million on our deductible. And the business was, the operation in that distribution center was impacted.</p>
<p>So credit to Carlos and Todd and entire the Montgomery distribution center team for not letting it impact our total business. But there's a cost there and then additionally, as stores close for hurricanes, et cetera, whether it'd be Houston or in Florida, we have freezers and coolers like other retailers do and those can't be off for a long period of time. So we incur cost that way as well. And that was my prepared comment that, I apologize if it didn't register fully.</p>
<p>We incurred costs of about $2 million or about $0.03 to the quarter related to the hurricanes. So that's $0.06 number we posted would have been closer to $0.08 or $0.09 on a 1% comp. So I think I feel very good about how the model performed when you put those factors into consideration. And then from a food and consumables perspective, I'll turn it over to David there in terms of pricing and the other part of your question.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>OK, Paul and I'll finish up and then turn over next. On on the food piece, I'm not sure all of the things you cover, Paul, you cover a lot, you have a big job. But I would tell you can't pick up something. I get everything in each category every day and what's going on food and starting really, I would say, probably, I'm going to throw a number out there, somewhere about 18 to 24 months ago, you started seeing some real pressure on pricing.</p>
<p>And I'll give you an example of that. Obviously, everybody is really kind of wondering about the Amazon purchase of Whole Foods and Wal-Mart has really gotten more aggressive duking everything out against them. I would say this, that in New York, it's different. But most people I talk to aren't going to have somebody go in their home with food and put it in the refrigerator for them.</p>
<p>That being said, I tested out the Amazon website and ordered some product that's dry groceries, and it and came in an Amazon sack, it came in same day, but it was Whole Foods product. So there's something going on, but beyond that, right now, cause I think that's a rounding error today is you look at -- that means in the future it's not going to be, especially with the animal in Seattle, never lets up, but when you look at traditional grocery, which is what we look at, Kroger is a perfect example of what's happened for how many quarters, T.J., but many quarters. I think it was over 20, actually if I remember the last number, two years ago. Back-to-back positive comps, but they weren't at 1%.</p>
<p>They were a lot higher than that. But they've been under a lot of pressure and I know those guys that spent eight years with Fred Meyer, their own other like Kroger, Fred Meyer in California, and the pressure there is on pricing big time. And it's not come on gas, it's coming out food pricing where you got some negative, more negative gross margin food traffic drivers than they've had in the long time, number one. And just, I don't know, a lot of us like me who loves to cook fresh, I was shocked the week before the leading in the Thanksgiving how their prices were lower than I've ever seen them and in a Kroger store.</p>
<p>And you can see a little bit of that in Whole Foods too, that's really the benchmark I use. And then they're right back up to beating the heck out each other on pricing. So it's all about price right now. And it's certainly our in stocks are good on dry grocery.</p>
<p>And so it's not that -- it's not -- it's an industry thing of duking it out for market share, period, using the prices.</p>
<p>Paul Trussell -- Deutsche Bank -- Analyst</p>
<p>Just a really quick follow-up T.J., I believe you reiterated fourth-quarter guidance for gross margins to be down slightly. If you can just give us the puts and takes on that. Because I believe at the Analyst Day, you were more optimistic and positive about the ability for gross margins to expand over time?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, I think, two very simple factors there, Paul. I think it's unique to fourth quarter. If you go back and look at 2016, our fourth quarter-margin rate was up pretty significantly. There's two factors that play in fourth quarter.</p>
<p>I think first half, we had a shrinkage last year very favorable store-level inventory results. We're not currently forecasting that same level of adjustment or favorability in fourth quarter. We'll know that after the January [Inaudible] at store-level. And then the second piece, I think, some of the difficult-to-quantify impacts of some of the hurricanes and other things are the inbound transportation rates market is becoming tighter and tighter and price is a challenge there too.</p>
<p>So it inhibits our ability a little bit to be more bullish on margin rates going into fourth quarter. We need to get our product in. And we need to get it out to stores in both efficient way. But in sometimes the pricing market is a little prohibitive that way.</p>
<p>But having said all of that, we feel very good about the month of November and where we sit it from a volume perspective and gave us a little more confidence in looking at the full fourth quarter both based on November results as well as November selling and some of the key categories. So that's kind of where we stand for the fourth quarter, Paul.</p>
<p>Paul Trussell -- Deutsche Bank -- Analyst</p>
<p>Thank you. Best of luck.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yup. Thanks</p>
<p>Operator</p>
<p>Thank you. Let's take our next question now, from Alvin Concepcion from Citi. Please go ahead.</p>
<p>Alvin Concepcion -- Citigroup -- Analyst</p>
<p>Thanks for taking my questions. Just curious about the store of the future location. What kind of comp lift are you seeing there and what do you expect in 2018? And as a follow-up to that, I'm also wondering about e-commerce learning so far. And into the fourth quarter, I'm curious about the in-store purchase basket and how it compares to in-store purchase and basket frequency basically.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Thanks, Alvin. I think T.J. and I'll tag-team on this. Obviously, he handles the construction side at store of the future and Mike on HR and Nick handles the execution.</p>
<p>And they travel, I went with them to, South Carolina's on that list, and Phoenix, it's Dallas, you've got two done, South Carolina and I believe Austin, Texas'll get started first of next year, very early. I'm very pleased, we all are very pleased I'm going to let T.J. speak, I don't think we're going to kind of share any specifics on the comps, I would just have him tell you that it's outperforming the company and we're happy with that. But I'll have him add color.</p>
<p>On your questions about e-com, we're still on the crawl stages of volume. It doesn't have, from a sales point of view, really an impact. I would say we're still working on some of the question you asked about bringing traffic to ... The answer is, we think so.</p>
<p>We all talk around here about think isn't good enough. We know we got more work to do to see we have a really nice, beautifully done e-commerce website. Our team is very passionate about it looks fantastic. And intentionally, as you well know, T.J., and I've spoken you and many others about why we're not willing just run with this side of the business for all the reasons that nobody thought about until three years ago.</p>
<p>But with that being said, I'm really pleased with the team, but that traffic to the store thing from the side T.J. can talk about that too. He can talk a little bit about both.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, Alvin, let me start with your first question first. So nice try. We're not going to quantify the comps just yet for Columbus and Phoenix. I'll just say it this way.</p>
<p>Most -- every major data point that we're looking at from a financial standpoint is positive. We're very encouraged by it. Sales are good. We're seeing nice lifts in all of the stores, any store that's not getting a lift, whereas an outlier, we understand why.</p>
<p>And it's usually, something that's external or outside of our control. So I feel very good about Columbus lifts. I feel very good about Phoenix lifts. I also feel good about the fact actually Phoenix is doing better than Columbus.</p>
<p>And the important thing to mention there, the important reason, is that it's 2,000 miles away from where we sit. So sometimes, as David has mentioned many, many times, as you get further from home, it's a little more difficult to check in and make sure we understand what's going on. But in this instance, we've got a great team on the ground out there, 2,000 miles away and they're doing a great job in Phoenix. So I feel very good about that.</p>
<p>It's also important to mention that Phoenix was a little bit older market, a little bit more tired than Columbus that's had some more recent store openings. So as you think, about the chain and the markets across the country, we probably have a lot more stores that look like Phoenix did than Columbus. So that's encouraging for us. I think too, as we've moved those three categories forward that you saw at the investor conference, furniture, seasonal, and soft home, that was absolutely the right decision.</p>
<p>Those categories are significantly outperforming the store, where there's a little bit of hesitancy about moving food and consumables to the back of the store, even though, it's only 10 or 12 steps further than where it used to be. Moving food and consumables to the back of the store doesn't seem to be all that concerning to Jennifer and isn't necessarily negatively impacting the business in total. So that's a net positive for us. I think additionally, we've actually done, to get away from the quantitative piece a little bit and more to the qualitative, we've done some consumer research with our friends at alloy and we shared with our board earlier this week and there's a significant amount of very positive feedback directly from her, shopping, along with Alloy in the stores.</p>
<p>So we've learned a lot in a very short period of time. And it's been another example of cross-functional alignment that David mentioned earlier, from all parts of our business. Nick and the stores team, the real estate team, the merchants, Martha and Michelle in allocation with Craig have done a great job keeping the stores in business. So I would just ask you to continue to give us time and understanding that.</p>
<p>But all data points that we're seeing to date are still very, very positive. So positive that what we talked to you about in September in terms of a rollout schedule for 2018, between remodel stores and blend-and-extends, and new stores, we're starting that process as early as post-holiday with the next markets. So we feel very good about where we sit with store of the future. Let us get through the holiday season and see how these stores react.</p>
<p>Because holiday in November and December is much different animal for us. And it's important we understand that before we communicate anything further in terms of results. I guess, I would just echo on the second part of your question, what David mentioned. We're encouraged by the good work that the e-com team has done.</p>
<p>Volume is building, which is what we expected. The operating loss, as I mentioned, was down in the third quarter, just like it was in the second and the first. So the trend right there is every bit as good to our guidance if not a little bit better for the operating loss to decline year over year. The team is making really good progress.</p>
<p>So I don't think there's much else of a material nature that we can talk about related to e-com than that.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Last thing, I would just add, great call-out on T.J.'s part, reminding me exactly what I say all the time what that means further away, as I think, all of retail has a challenge and has for everyone. There's no local retail anymore. The days of, I hate to admit how old I'm, but where you have local department stores, [Inaudible] you could check those 25 or 40 or 50 stores. And I'll say this, I said it earlier, he's right that the further away you get, it's always more challenging because right in the backyard here, we're here.</p>
<p>It doesn't mean we're perfect here or across the country, but we're damn close, and I'll tell you why, one reason: execution. And between Nick and his team out there and Mike with HR and all the product line, but more importantly [Inaudible] because we've added to the SKU count in a huge way, the stores can executive better, and to T.J.'s comment is right on the money. I honestly didn't know how this was going to happen. Again, we -- it's about the people and our execution out there.</p>
<p>We used to do like many retailers still do, a stealth visit [Inaudible] in the whole market would be [Inaudible]. It's not like that anymore. And it's all about that. So that was a great call-out, and we're proud of our folks for that.</p>
<p>Alvin Concepcion -- Citigroup -- Analyst</p>
<p>Great. Thank you very much.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Yup.</p>
<p>Operator</p>
<p>Thank you. We will now go to our next question, from Patrick McKeever from MKM Partners. Please</p>
<p>Patrick McKeever -- MKM Partners -- Analyst</p>
<p>Thanks. Good morning, guys. Question on closeouts. And I'm wondering if you seeing much change in closeouts availability, the types of products that are out there, pricing the vendors, those kinds of things? Just given all the store closings across retail and some of the vendor dislocation?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Hi, Patrick. It's David. And certainly this is another one, and T.J. can add a little here, too.</p>
<p>We just talked about this about our board. I'll start with the areas that we buy closeouts in and you know what those are, you and I andT.J. and Andy have spoken many times. I called it out in our investor conference in September is food and consumables, primarily in fact, that is it, is food and consumables, and I would say in the food industry, the availability's not changed significantly at all.</p>
<p>Where it's changed -- I believe some day, it will. That's why I said to you many years ago, the world is changing, technology is, so your big guys in consumables, and I think who they are, I don't need to mention them, but the big players with the big brands, they've finally figured out how not to overproduce and more importantly, not change the shape and size of the ounce on their products every quarter or every half-year or whatever. They've got a model that they tested and it's working. So from a strategic point of view, the availability there in that area is down significantly from the standpoint of where it used to be.</p>
<p>I would say,T.J., if Lisa and Michelle and T.J were talking about that, they'd tell you we just talked about it literally, yesterday or the day before. In some cases, with the branded guys are doing both. In some cases, some areas, the availability is so few and far between that we have to -- we're offsetting the numbers, as you can tell, but certainly, there's an impact there from a distribution point of view and availability. But as T.J.</p>
<p>and I consistently told you and everyone else, my belief 4.5 years ago studying the company and as I got further -- is you can't live and die by that. And he tells you 16 consecutive quarters of meeting or beating is consistency on a business that's pretty mature compared to some of the other guys in that space. So I think, that we understand what we've gotta do, but that's what's going on there, and we're not having that feeling. And food, it's more -- it's not about closeouts.</p>
<p>So T.J. anything to add to this?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, Patrick, I guess, so, just to remind everybody that we used to buy closeouts a number of different categories in the store outside of food and consumables. And we walked away from that business. And all that happened was our business got better. So soft home is a great example.</p>
<p>We used to buy much more closeouts in hard home. We had our first positive comp in a number of years in that category. So I think, let's give our merchants a ton of credit here for really going out and sourcing first-quality goods and providing great value in some of those other categories. Now we still have closeouts in food and consumables, albeit at a lower rate than we used to.</p>
<p>Jennifer has told us loud and clear she wants us to be more consistent. We're doing that. But, I think, moreover, the important thing is we're still very, very price-competitive. Actually you and a number of your colleagues out there do price comparisons and it shows us that.</p>
<p>And it shows investors that, which is very positive. But I also think the challenges are, or if there's a shrinking environment in terms of closeouts for food and consumables is just another good reason why our strategy around ownable and furniture and seasonal and soft home was the right shift two or three years ago. Jennifer sees great value in those categories in the store, it provides full solutions for her to decorate her home, and it was a great move to really focus there. And that's where our core strength is right now.</p>
<p>So food and consumables, a very important business. It's roughly a third of our business. No one suggesting we're moving away from that, whatsoever, we're going just as aggressive there as we are in other categories. But with Jennifer being able to further differentiate Big Lots going forward, it's really that ownable piece of furniture, seasonal and soft home.</p>
<p>Patrick McKeever -- MKM Partners -- Analyst</p>
<p>Thank you.</p>
<p>Operator</p>
<p>Thank you. We'll now go to our next question, from Bradley Thomas from KeyBanc Capital Markets. Please go</p>
<p>Brad Thomas -- KeyBanc -- Analyst</p>
<p>Yeah, hey. Thank you. Good morning, Tim and T.J., and congratulations on the strong execution here. A quick housekeeping item and then a question on the furniture category, if I could.</p>
<p>T.J., just on e-commerce, it sounds like no change to your sales and operating income as I'm sure from e-commerce. I just wanted to clarify from a quantification standpoint if there were any changes.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>No. If anything, Brad, that's a good question. If anything, those -- the assumptions around e-commerce each quarter has gotten a little bit better for the full year. So I would suggest we're trending more toward the better end of the guidance for e-commerce on an annual basis that we gave you at the beginning of the year.</p>
<p>So, again, good job by the team. We're incrementally getting a little bit better each quarter.</p>
<p>Brad Thomas -- KeyBanc -- Analyst</p>
<p>Great. And then I'm hoping to just circle back to the furniture category, again. It looks like maybe it slowed a little bit from the cadence in 2Q. Clearly, still a bright spot for you all and a growth driver for you all going forward.</p>
<p>But I was hoping you'd talk a little bit more about the cadence of the category and how you're thinking about it, growth opportunity? And the likelihood that this category could potentially accelerate back to mid-single digits on a more consistent basis? Any color on how Easy Leasing is performing for you, and if that's accelerating or decelerating?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Great question. I'll take part and let T.J talk about the phenomenal weekend, week I should say, we have, every day. But last week was exceptional with Progressive. But back to your original part of furniture, Brad, as you know, both of us, all of us have consistently told you, it's ownable.</p>
<p>And you can -- again, I'm not going to share comps, but we can just say in the store of the future, bringing it center right in the front there with a different flooring than most of our discount competitors do by far and away, along with that strategy is we think it's -- will continue to be a key driver. And again, T.J told you, you mentioned second quarter and in the third quarter it was all Labor Day primarily and a little bit of post-Labor Day. But really significantly was that hit. We still did a lot of volume otherwise that comp would have probably busted through the -- into the high singles.</p>
<p>I believe that, as I said, our key suppliers, whether it's the United Upholstery guys or Serta and so on, when you look at that and Simmons, and then build our fireplaces, that's like what T.J. said, we offer tremendous value. So that's our product. But when you look at that, we're outperforming the industry.</p>
<p>And I think you probably know that based on some things you cover. And we'll continue to get better when we roll out, store of the future each and every year is certainly going to be larger in '18 and '19 than it was in '17. This is going to have an impact in growth driver there, as well as customer, in a lot of the stores it's not in the front of the stores. So we feel very good about that.</p>
<p>The response there has been fantastic. And again, outperforming the industry. We don't see -- we see nothing, but upside there. And even with that being said, with furniture not in the front of all 1,480, whatever the store T.J net-net 50 [Inaudible] Progressive's doing a heck of the job of driving volume.</p>
<p>It's not the whole thing, he can tell you, but it certainly is a significant number. So that customer who needs that kind of financing is coming to Big Lots. And, again, we have a strategy that will continue to become bigger with buy it today, take it home today. I think T.J.</p>
<p>should talk about other piece, because it's critically important because between his team and stores, that execution, he tracks that daily. And we know what's going on out there and it's getting better. And I just think it'll continue to get bigger.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>I think David covered most of it, Brad. I mean, the noted softness was around Labor Day. Actually, as we came out of September and October, October was a pretty decent month from a furniture perspective, better than August and September. And as I mentioned, furniture comp, again, in November.</p>
<p>So newness matters. Yes, Progressive is an important part of the business but still 15% or 16% of the business. The other 80% to 85% of the business is about Martha, Robert, and their team providing great quality product everyday. So we're very confident in the furniture team and the strategy.</p>
<p>And again, if you could help us out on the fireplaces with cold weather, we'll take it. That's all good. The quality what we've delivered is new. The team feels very good about.</p>
<p>And Jennifer is responding. And I wouldn't underestimate the power of all of our store teams that are focused on furniture. They know, for them to be successful and make their bonus on a quarterly basis, they have to win in furniture, they have to win in seasonal, and they have to win in soft home. So the ownable strategy, front and forward, is really, really key and everybody gets it.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Last thing, and then we can move on, is what T.J. just said is, that's the second time he's mentioned to Brad and someone else about the weather card, if you can help us with the weather, and I just chuckled because you guys know T.J. and I talked to you guys about it many times, or folks know this, and [Inaudible] is that we can't control. People ask me "What keeps you up at night?" and I say "The four Ws." Weather is the No.</p>
<p>1, and I can't control that, but if you can add some magical thing there for T.J., let him know, and I will be thrilled. And the second one obviously we talk about is Washington and Wall Street. [Garbled] Wall Street would probably actually be last. But you got the craziness in the world going on too.</p>
<p>So we can't control those things, but the weather one is definitely out of our control, but we kind of, some people [Garbled] "You should be happy, the weather's been warm." Yes and no. So your weather categories, albeit, thank God, we exited apparel 4.5 years ago whatever, cause we're not in that. But it does have impact on things like heaters and fireplaces, and bedding, winter-driven type of category some other businesses. I could go on.</p>
<p>But it's not -- it significant, but in the scheme of things, we think we do really well with even weather in our face.</p>
<p>Brad Thomas -- KeyBanc -- Analyst</p>
<p>That's very helpful. T.J., just quick accounting question for you on -- when you do the remodels, can you remind us how that will affect same-store sales for next year? I assume you take them out of the comp base when you do the remodel. Do they go back in when you're done?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>No, they stay on the comp base, Brad. The only reason for us to pull a store is if we actually expand the store, I think our threshold, if we expand the store by more than 20%, we pull the store out of the comp base for that 12-month period. But a full remodel will be included in the comp base. I think that's fairly consistent with how others treat store remodels.</p>
<p>Brad Thomas -- KeyBanc -- Analyst</p>
<p>Perfect, and I will be out looking at your fireplaces, I guess, in the next few months.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>All right, you do that, Brad</p>
<p>Operator</p>
<p>Thank you. We'll now go to our next question, from Anthony Chukumba from Loop Capital Markets.</p>
<p>Anthony Chukumba -- Loop Capital -- Analyst</p>
<p>Good morning. Thanks for taking the question. It's a bit of a follow-up to Brad's question on Progressive and also the [Inaudible] credit card. Just any -- I wanted to see if any changes or anything to call out on Progressive from either, A, an acceptance perspective, I guess, approval perspective as well as a credit-limit perspective.</p>
<p>And then the second question is just on private label credit cards, you mentioned Progressive's penetration has gone up 15%, 16% in furniture. I was wondering what the penetration was in the private-label credit card at this point?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, Anthony, it's T.J. Thanks for the question. I think from a Progressive standpoint, our Easy Leasing, again, the number varies from week-to-week a little bit, but I would think it will be more trending in the 15% to 16% range on an annual basis. So ticking up ever so slightly each quarter.</p>
<p>And we really think in the last 90 days the move to a simplified approach on that initial down payment to $45 has been a big, big win for us and big, big win for them. And probably more importantly, Jennifer loves it. So I wouldn't necessarily think of it as an approval enhancer, but it helps her build the basket. So our approval rate still trends around about 70%, which we're very happy with.</p>
<p>The big moment with Progressive and specifically with furniture but right now also growing in seasonal, which is very encouraging, the bigger growth opportunity is building up that basket. So you've followed us for quite a while now and you remember when we first launched the program, our approval rate was probably in the mid-60s and the basket was probably in the low 600s. Now the approval rate has moved up higher to around about 70% and basket now is, on many weeks, $700, $750 or more. So that's really been where the big move has been.</p>
<p>From a private-label credit card perspective, I think of that a little bit differently. The overall impact of the furniture program is a lot, lot smaller. I mean, you're talking about maybe a low single-digit number there. But more importantly, it wasn't necessarily seen as a furniture enhancer, although we'll take that when it happens.</p>
<p>But more importantly, it was in another form of financing for Jennifer. And once she's approved and has card in hand, she can use it in the entire store. So it was more strategic for the store than it was for just one category. Net-net, we're happy with both programs.</p>
<p>We found the right partners. The store teams have fully embraced both programs. Mike and Stella and their teams and HR have done a great job from a training perspective, along with the stores team. So, again, back to my comment earlier, very similar to ownable, winnable.</p>
<p>Our teams understand to be successful in big-ticket product, particularly, they have to be successful in Easy Leasing and they have to be successful opening credit cards.</p>
<p>Anthony Chukumba -- Loop Capital -- Analyst</p>
<p>That's very helpful. Thank you.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yup. You bet.</p>
<p>Operator</p>
<p>Thank you. We'll now go to our next question, from Laura Champine from ROE E [audio gap]</p>
<p>Laura Champine -- ROE Equity -- Analyst</p>
<p>Good morning. Thanks for taking my question. It's on the footprint for next year and beyond. As you look at, having developed you new store-of-the-future format and real estate availability, which probably pretty decent, do you think it's time to start growing the store base or even just keeping it flat compared to the recent declines in square footage we've seen?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>That's a great question, Laura, and I'll let T.J. take most of that. And I'll tell you that from a standpoint of where to go, T.J. and his team in real estate, we haven't added a lot -- we've added new stores, but like as an example, when T.J.</p>
<p>and his team take a look at, whether it's Phoenix or whatever, I think [Garbled] closed four stores in that market that they weren't worth spending the money on. And he will tell you more detail on that. So as he and his team sat down with myself and said, "This is what we want to do in '18," that looked at all of those components. Relos have been phenomenal and the relos depending on the market, but overall the strategy that he and his team put in place, we're really careful about what we own, what's not worth spending the money But he jumped on stores, that team has and new locations have been really in some cases, performing at a high level.</p>
<p>But he's got much more details on that. I would just tell you that we're humming in that group group of guys. Obviously, they work with the store folks through the regionals and district team leaders to get their opinion. And literally we go through every single store.</p>
<p>But on the store of the future, extremely confident in the program that these guys have developed. But I'll let them talk to you about '18.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, Laura, there's really not a material update to what we shared at the investor conference 60 days ago, on this topic. I think that higher level, we talked about opening more new stores in '18, '19, or '20 than we had in '16 and '17. Although, I think we would be challenged to get to a point where we would open more stores than we close. I think our big, big opportunity is to relocate stores and markets.</p>
<p>So obviously, you have an open and close there. So I do think it's a good goal for us to try to be, I'll say, net neutral on open stores and new close from a volume perspective because to David's point, we've had very good success of late opening some higher-volume stores or volume stores that are above the company average in the good markets and in good locations. So I don't necessarily see us on that net count rather, but I see an opportunity to flatten out the volume differential or potentially grow the volume as we open volume stores. Let me pivot back, though, to store of the future and really the number of projects going on in 2018, because, I think, it's important to understand, it was part of your question.</p>
<p>So we're still of the mindset to remodel about 125 stores. That's consistent with the investor conference materials from two months ago. We still believe there's an opportunity to open about 30 new stores next year and we still believe there's an opportunity to blend and extend scenario in about 25 stores. For the importance, when you add all those up, you get about 180 stores that will be in the new store or the future format.</p>
<p>That's about 15% of the fleet and pretty good work in a 12-month period. So nothing has changed in that regard. We'll focus on that as part of our operating plan that we shared with the board earlier this week. We had very healthy dialogue around store of the future and the results, but again, from the quantitative and qualitative standpoint.</p>
<p>So we're moving forward as advertised for 2018 on real estate. Hopefully that helps answer your question.</p>
<p>Laura Champine -- ROE Equity -- Analyst</p>
<p>It does. Thank you.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yup.</p>
<p>Operator</p>
<p>Thank you. Our next question now comes from Matthew Boss from JPMorgan.</p>
<p>Matthew Boss -- JPMorgan Chase -- Analyst</p>
<p>Thanks. So, a larger-picture question. If you broke down the same-store sales improvement that you've seen over the past two years, I guess, has it been greater spend from your existing core customer base, or have you seen an expansion in the income demographic shopping the stores?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Matt, I don't know that we can suggest that we've seen an expansion from an income demographic perspective. I do think I'll look at it a little bit differently, I don't think seeing evidence that we're doing a better job against that more infrequent customer. So the core customer, she loves us and continues to shop us often and be a big, big advocate. However, I think where we're making a little more progress is against that infrequent customer who might have only shopped us once or twice a year and who's now shopping us a little more frequently and at a bigger basket than some of our core customers.</p>
<p>And that's information that comes from our rewards program, loyalty program, which I do think it's important to note, we kind of glossed over it in our opening comments, we relaunched the rewards program to our stores and to Jennifer during the early part of fourth quarter, and we've seen very, very positive results. We simplified the program, we had tested it against her in a number of markets, saw sales lift, saw sign-up lift. So we think that it's a nice enhancement as we go to the holiday season and hopefully gives us a little extra leg of growth as we go into next year. So that's the best information we have, Matt, on how the different types of customers who shop our stores are responding.</p>
<p>Matthew Boss -- JPMorgan Chase -- Analyst</p>
<p>Great. And then just a follow-up, T.J., as you look to next year, I guess how best to think about comp in order to leverage SG&amp;A just in light of some of the investments that you've outlined and any high-level insights on the overall algorithm into next year?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>No changes since the investor conference, Matt. Sixty days ago, we talked about really the leveraging and the model coming from slight increase in the gross margin rate. And that the comp needed to leverage SG&amp;A would increase off of a flat and probably be more in the 1% to 2% range. So nothing's changed from that regard.</p>
<p>Again, investments in stores primarily, but also new distribution center in California is in that three-year plan. And obviously moved to the new office here in Columbus is in that plan over a three-year basis as well. So nothing has changed in that regard. Nothing has changed from a merchandising perspective in terms of ownable and winnable being the key elements of the strategy, which will help drive some of the gross margin improvement.</p>
<p>So no changes from 60 days ago.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Just one last thing and I'll move on. As to that question is, we know there's big opportunity out there for us to -- T.J. is absolutely right on, we've done our research outlay. It shows we have customers from almost every income, and some it would surprise you how much they make, and they know the value proposition.</p>
<p>Where we feel opportunity that we'll be working on '18 and beyond, '19, is we talked to the board about this yesterday with them a little bit, is, in our environment today in retail, as you well know, it's very difficult. So we're 16 consecutive quarters comping, I think all but one meeting or beating guidance on every quarter. But once we figure out putting a strategy in place, and that won't happen in '18 or '19 fully, but certainly a plan, how do you strategically position our brand with how -- you -- [Garbled]. Did you see the store of the future or have you?</p>
<p>Matthew Boss -- JPMorgan Chase -- Analyst</p>
<p>I've seen it, yes.</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>As T.J. clearly said, she loves us. And getting more frequency and that is critical to do, simultaneously we need to put a strategy together that says, how do you, over the next three years, three to five, whatever. The brand identity thing is powerful.</p>
<p>Again, what it tells you, our shopper loves what she's seeing. Even in infrequent ones, that's great. Let's get more of them. But then in the future is, how do we get more new customers.</p>
<p>A lot of retailers say that's not easy to do. Well, I agree. But most of the guys out there in the space, the customer knows who they are, two of them everything under the moon. With Big Lots, candidly, if T.J., Lisa, and the whole group, all the merchants, everybody, across the board, love what we're doing, however, that's great.</p>
<p>So when we advertise, print is a necessary evil. We know we've got some opportunity in marketing in areas that we're just dabbling and then there's some other things that we just need to put up plan together that says, our brand identity, the image that we had, is good for the customers who love us. The ones who people, they never shopped us because we had that identity thing of the store full of stuff, right? T.J.'s keyword is consistency. And we talked about that.</p>
<p>This team had the courage and the confidence to take that direction and say, "We can do this." And I got a curious bunch. So that piece of product-wise, execution-wise, but we've gotta figure out the story and get new customers in, and that's going to be a focus too. And you'd probably say, "How do you do that?" We're going to figure it out, cause we're different than the other guys. We completely turned this model upside-down, that's great But the person that doesn't know who we are, doesn't know that.</p>
<p>So much more to come, and we're excited.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Thanks, Matt.</p>
<p>Operator</p>
<p>Thank you. We'll go to our next question, from Joseph Feldman from Telsey Advisory group.</p>
<p>Joseph Feldman -- Telsey -- Analyst</p>
<p>Hi, good morning, guys. Thanks for making time for my question. One follow-up and then one other, just kind of a longer-term question. I guess the follow-up first, with furniture, can you talk a little about -- I know we've all been asking about the comp trend, but how do we think about on the go-forward in the sense of, you said, T.J., I think, it's been positive basically 15 quarters in a row.</p>
<p>It's obviously been a very strong area, and I know it's a big centerpiece of the store of the future. But how should we think about it, given that it's a little bit more mature at this point? Should we think about it as more of a low- to mid-single type of growing business versus mid- to high single as the past couple of years?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Yes, I guess, Joe, I think this is Year 17 for me and for 17 years we've received the question of how you're going to continue to comp in furniture. So it's been a very consistent business for us for longer than 15 quarters. And I think from our perspective, what we talked about it at the Analyst Day was really a low single-digit comp for the company and that furniture and seasonal and soft home would have the outcomp the total store. Nothing has changed in that regard.</p>
<p>We didn't speak to the specifics around the mid-single, high single, low double digits, or anything like that. We know that we need to win in those three categories. We have been winning in those three categories, store of the future gives us more confidence we'll continue to win on those categories, including furniture. So one of the most interesting pieces from customer research is the elevated level of good-quality perception from Jennifer in store of the future as it relates to furniture because she can now see at it the front of the store and has an opportunity to experience and well-designed vignettes, etc.</p>
<p>So we're going to continue to work on those things and how we present -- furniture sales training 2.0 took place during third quarter as well -- so it's really a multifaceted approach to continue to drive not just furniture, but all ownable businesses. So the maturity question, I'd say, we focus a lot on. Really Martha and Robert and the team, along with Lisa are focused more on how do we continue to elevate the quality, how do we continue to evaluate the value, and the fashion piece of furniture to really continue that comp growth going forward. You said you had a second question.</p>
<p>Joseph Feldman -- Telsey -- Analyst</p>
<p>That's really helpful, T.J. The other one, I know it may be a little soon to provide any color, but as we think about next year, are there any variables we should consider that we're going to have to anniversary in terms of operating profitability, maybe the gross margin, SG&amp;A, any of the onetime things, like, for example, I know hurricanes you should get that $2 million of expenses back next year in the third quarter. But any other things like that we should think about?</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>I would suggest that going forward into '18, they're going to be small items we anniversary not to make light of $2 million, it's a big number. But I guess, from our point of view there hasn't been anything that's rose to the level of, you know, an activity that happened this year that we had to non-GAAP or that was material enough to move the needle where we had to non-GAAP something to really call a clearer picture. So that's part of running our business. We have little bumps in the road and we have surprises to the good in the road every quarter and really making sure that we can manage the entire P&amp;L.</p>
<p>We have been able to do that. So I'm not aware of anything significant, Joe, as we look to 2018. Other than the -- as advertised 53rd week for all retailers, is something that as you think about next year's growth, you have to factor that out. But other than the 53rd week, Joe, that's -- there's nothing that's overly concerning on that point of view.</p>
<p>Joseph Feldman -- Telsey -- Analyst</p>
<p>Great. Thanks for that, T.J. and good luck this quarter, guys for the holidays. Thanks.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Thanks, Joe.</p>
<p>Operator</p>
<p>Thank you. We'll take our next question today from Peter Keith from Piper Jaffray. Please go ahead.</p>
<p>Peter Keith -- Piper Jaffray -- Analyst</p>
<p>Hi, thanks, good morning, guys. So just two quick questions. On the furniture, seasonal, soft home, there has been a growing drumbeat of those categories moving online in recent months, not just for the pure play e-com guys, but also some of the traditional brick-and-mortar people pushing more aggressively. So how do you think about making investments to move those categories for yourself online, or perhaps on the other side do you think your core customer's a bit more credit-challenged and you can invest more in the store to enhance the experience there? My second follow-up question is just on hurricane, is there any rebuild benefit that you've been seeing here in recent months [Inaudible] in Houston that's benefited certain categories?</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Peter, I would take part of that. T.J. wants to add on there the second piece. But I would just tell you I've spent a lot of time in our competitors' stores with some of my executive team, focusing on what they're doing well.</p>
<p>And then, obviously, that's where the whole ownable thing came up [Inaudible] was furniture, yea, everyone sells furniture in brick-and-mortar. I'm sorry, the guys that sell furniture in brick-and-mortar, like NRH, the whole Restoration Hardware group and a few other, they're ore premium guys, so their price points are higher, and they have an online presence that's pretty good. I don't know what the penetration is, I'm sure I could figure out, well, it's hard to figure out RH because all the other brands that they own underneath them. But when you look beyond that, when you look at our competitors in brick-and-mortar, when you go into their stores, you don't see those categories that we carry.</p>
<p>They're focused on categories, candidly, that I don't believe in and that we [Inaudible]. In fact, I was with T.J. not that long ago, pointing out where, in our size box, you can't be all things to everyone. And even in those big ones, it's confusing because there's so much.</p>
<p>You can't be in all categories, but when you look at online, though, it's a whole different animal. The word is that Amazon is going to expand their furniture offerings. I've gone in there and I've not seen it, the way that you've seen Wayfair, for sure. So they're probably going to crack that code like they have everything else.</p>
<p>But today I don't see that. But Wayfair, on the other hand, is definitely somebody we talk about every single week. And I watch their website, and have done a few test orders to see if smoke and mirrors on free shipping is real and stuff, and it is. But I got to tell you something, as you both know, part of the reason why we're in that crawl mode, again, I want to make sure you understand, very critical to what our future looks like you, but today when you look at trying to do online and big heavy ticket like they do, and you're doing it with free shipping and the stuff weighs, God knows, I've talked to T.J.</p>
<p>and Carlos in distribution and transportation. You're never going to make money because the stuff, the shipping cost on that is huge, and that's where T.J. can give some, he spends a lot of time with the team and Lisa on that category with those [Garbled]. You guys know their numbers, everybody knows.</p>
<p>They get a free pass when it comes to one side of the question. OK? That's kind of difficult model for guys like us. And I think you know that. So all of the reasons why we think we're all over that.</p>
<p>But again, the rest of it definitely, they -- the local guy, not the local guy, but the national brick-and-mortar guys also do some interesting things on shipping too.</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Peter, I guess, I think, of it this way. So the two best categories online for us have been seasonal and soft home. And seasonal, in particular, she sees high-quality, high-value there as she does in soft home. Those have been two key drivers of the e-com business and each of those, for very good reason, the furniture piece, we have a small parts of our furniture business online, and we're going to test different ways of putting other product online.</p>
<p>But as David mentioned, it's really about the shipping piece that we're testing as much as anything. Because we want to make sure if we put the product online, we've got a reasonable chance of making money with it. But seasonal and soft home will be the key drivers there, and something you should probably spend more time focusing in on. And furniture in kind of test mode as we go into 2018.</p>
<p>That doesn't require, to the first part of your question, it doesn't require significant investment or significant capital investment. The rebuild efforts for the second question that you asked, again, is it happening in Houston, is Houston one of our better comping districts? Certainly. Is it enough to drive the total company? No. So it comes back to, our business responds a little bit differently to those type of weather events.</p>
<p>We see some buildup or stock up, you'll see people go away when the weather happens, and then you see them come back out. So nothing significant enough that rises to anything impacting the total company, but certainly in some stores. So hopefully that helps you understand a little bit better what's going on as it relates to weather.</p>
<p>Peter Keith -- Piper Jaffray -- Analyst</p>
<p>Yeah. Very helpful, guys. And good luck for the rest of the holiday season.</p>
<p>Andy Regrut -- Vice President, Investor Relations</p>
<p>OK. Thank you, everyone. Emma, will you please close the call with replay instructions?</p>
<p>Operator</p>
<p>Certainly. Thank you. Ladies and gentlemen, a replay of this call will be available to you by 12 noon Eastern Time today. The replay will end at 11:59 p.m. Eastern on Friday, December 15, 2017.</p>
<p>You can access the replay by dialing the toll-free U.S.A. and Canada +1 (888) 203-1112 and enter replay passcode 856-2612 followed by the # sign. The international +1 (719) 457-0820, and entering the replay passcode 856-2612 followed by # sign.</p>
<p>Ladies and gentlemen, this concludes today's presentation. Thank you for your participation. You may now disconnect.</p>
<p>Duration: 93 minutes</p>
<p>Andy Regrut -- Vice President, Investor Relations</p>
<p>David Campisi -- Chief Executive Officer, President and Director</p>
<p>Tim Johnson -- Chief Financial Officer, Chief Administrative Officer and Executive Vice President</p>
<p>Vinny Sinisi -- Morgan Stanley -- Analyst</p>
<p>Dan Wewer -- Raymond James -- Analyst</p>
<p>Paul Trussell -- Deutsche Bank -- Analyst</p>
<p>Alvin Concepcion -- Citigroup -- Analyst</p>
<p>Patrick McKeever -- MKM Partners -- Analyst</p>
<p>Brad Thomas -- KeyBanc -- Analyst</p>
<p>Anthony Chukumba -- Loop Capital -- Analyst</p>
<p>Laura Champine -- ROE Equity -- Analyst</p>
<p>Matthew Boss -- JPMorgan Chase -- Analyst</p>
<p>Joseph Feldman -- Telsey -- Analyst</p>
<p>Peter Keith -- Piper Jaffray -- Analyst</p>
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involve risk uncertainties subject safe harbor provisions stated press release sec filings actual results differ materially described forwardlooking statements commentary today focused adjusted nongaap results third quarter fiscal 2017 excludes aftertax income 19 million 004 per diluted share associated gain insurance recoveries merchandiserelated legal matters reconciliations gaap nongaap adjusted earnings available todays press release morning david start call opening comments tj review financial highlights quarter outlook fiscal 2017 david complete prepared remarks taking questions ill turn call david david campisi chief executive officer president director thanks andy good morning everyone im pleased thirdquarter results particularly given constantly changing highly competitive retail environment historically q3 challenging big business transitions summer months prepares holiday shopping season however ownable winnable merchandise strategies continue produce consistent results q3 increased 1 line guidance adjusted eps slightly high end guidance merchandise category perspective experienced healthier breadth performance q3 furniture low single digits top 5 increase last year good job robert furniture team growing sales gaining market share quarter despite high industrywide challenges labor day time period mattresses performed best benefiting new product quality upgrades popular serta program upholstery also performed well quarter quality styling gets better season financing options easy leasing big lots credit card continued important strategy drive yearoveryear growth jennifer loves recent change easy leasing program 49 door using much bigger basket creating bigger basket consumables next also increased know skipped something back one second soft home actually mid single digits 6 apologies team last year strengthened bath decorative year increased bath decorative textiles flooring frames great great job martha kevin entire team comping comp wellplannedout coordinated strategies successful expansion bath improved space productivity window elevating qbfv area rugs driving higher average retail back one time get consumables hard home food another strong performance seasonal top performer low double digits congratulations michelle steve team another excellent quarter q3 represents fourth consecutive quarter positive comps business team leverages disciplines qbfv quality brand fashion value youve heard us consistently saying 16 quarters improving offerings new fall assortment harvest halloween good inaudible modern garden summer major contributor along harvest halloween quarter looking forward christmas trim set latter part q3 early indications quite encouraging head december along soft home talked furniture martha leads teams robert team kevin visionary real hard driver business see thats inaudible michelle got seasonal inaudible business along food consumables quarter consumables also low singledigit increase driven nvo reset expansion overthecounter otc health beauty aids completed may stephen team diligently increasing consistency offerings national brands jennifer responding improvements see significant way inaudible im happy thrilled say hard home comped slightly positive representing first first positive comp since started reporting category separate soft home q4 2013 good result given business downsized stores part added amplify last threeplus years tabletop home maintenance contribute growth maybe exciting change courageous strategic shift floor care driven really martha lisa obviously behind strategies chief merchant major push shift floor care move away closeouts congratulations bob team perseverance hard work next food audio gap quarter delivery stronger driven new inline beverage assortments added september offset continued softness balance food departments competition many know food industry continues get intense believe holding look comps reported traditional grocers electronics toys accessories next lower last year space downsized spring support future strategic growth ownable winnable categories moving marketing online initiatives q3 another good quarter ecommerce team operating loss better planned better last year team continues good job staying focused crawl crawl walk run strategy marketing team also test launch big rewards new features enhancements jennifer told us wanted loyalty program instance every third purchase reward furniture purchases 200 qualify special rewards plan surprise jennifer birthday year special incentive shop big lots first early indications jennifer feedback joy world holiday campaign impressive joy world traditional voice three dog night version 70s fun energy true joy displayed across digital tv youtube facebook pandora name elevated brand reflective brand identity aim portray future integration collaboration marketing team creative agency trp along new placement firm mediastorm helped us raise game holiday want thank lisa tj helping absence chief customer officer stepped tj working bringing mediastorm lisa really spending lot time last especially last probably four five month intensity last quarter make sure right tv right creative briefs written us see best ever yet lot heavy lifting q3 falls squarely shoulders supply chain field organizations product flow peaks late september early november logistics team carlos leadership executed well increasingly difficult transportation environment delivered merchandise field mike nicks leadership stores organization great job getting setup holiday time budget asked lot teams time year peak time period moving quarter right execution store future testing rose challenge giving jennifer friendly service deserves busy quarter team turn call tj additional insights numbers tim johnson chief financial officer chief administrative officer executive vice president thanks david good morning everyone net sales third quarter fiscal 2017 111 billion increase 05 versus 1105 billion reported last year comp store sales increase partially offset lower store count yearoveryear comparable store sales stores open least 15 months plus ecommerce sales increase 1 line guidance low singledigit increase david detailed moment ago experienced encouraging indicators improved breadth performance across many businesses q3 noted seasonal lowdouble digits soft home midsingle digits furniture low single digits consumables hard home flat breadth weve experienced quarters year adjusted income third quarter 25 million 006 per diluted share compares guidance 001 005 per diluted share last years adjusted income 19 million 004 per diluted share q3 much transition quarter business prepare peak selling period holidays incur higher levels expense move significant amounts merchandise dcs stores field teams execute detailed instore presentations advance sales ramp november december gross margin rate q3 399 10 basis point decline last years thirdquarter rate line expectations total adjusted expense dollars 441 million adjusted expense rate 397 flat last years adjusted rate important note overall operating profit quarter negatively impacted lowered approximately 2 million due weatherrelated hurricanerelated costs negative impact approximately 003 quarter complaints excuses important understand quality q3 would absent costs interest expense quarter 21 million compared 17 million last year moving balance sheet inventory ended third quarter fiscal 2017 1038 billion basically flat last years 1036 billion inventory levels per store increased 1 partially offset lower overall store count yearoveryear q3 opened 11 stores closed 14 stores leaving us 1426 stores total selling square footage 315 million first three quarters year opened 19 stores closed 25 believe well end fiscal 2017 1416 stores capital expenditures third quarter 2017 42 million compared 27 million last year depreciation expense 295 million slight decrease compared last year ended third quarter 58 million cash cash equivalents 372 million borrowings credit facility compared 60 million cash cash equivalents 363 million borrowings credit facility last year use cash generated operations focused reinvesting companys strategic initiative support longterm growth including store future returning cash shareholders share repurchases dividends expect end fiscal 2017 debt approximately 130 million third quarter adjusted 2017 share repurchase authorization total program invested 150 million repurchased 31 million shares approximately 7 company shares outstanding average price 4804 per share well current market price estimate intrinsic value stock announced separate press release earlier today november 29 2017 board directors declared quarterly cash dividend 025 per common share dividend payment approximately 11 million payable december 29 2017 shareholders record close business december 15 2017 yeartodate combination share repurchase activity quarterly dividend payments returned approximately 184 million shareholders turning forward guidance raised estimate q4 income range 235 240 per diluted share compared prior guidance 230 238 per diluted share compared last years adjusted income 226 per diluted share guidance based comparable store sales range flat increase 2 gross margin rate fourth quarter expected slightly last year expenses percent sales expected slightly lower last year terms outlook full year increased estimate adjusted income range 423 428 per diluted share compared prior guidance 415 425 per diluted share level earnings would represent 16 18 increase adjusted eps compared adjusted income 364 per diluted share 2016 annual guidance based comparable store sales increase approximately 1 total sales approximately 2 last year comp 53rd week expected partially offset lower overall store count believe level financial performance result cash flow approximately 180 million ill turn call back david david campisi chief executive officer president director thanks tj one thing thats prepared remarks tj helps write want speak inaudible id also like add really drives strength whole group talked tjs world carlos tj distribution transportation paul also big role finance world well tjs leadership take three put rocky soon person marketing would tell leadership mentioned earlier lisa helping us get quarter end tj marketing take hard look see collaboration businesses dont execute talking without paul tj leadership lisa mike rocky umbrella guys collaborate something hard explain success big believe dont operate silos operate together group get things done make decisions much collaborative effort said also mikes world got stores reporting also human resource element company critical role guys play make company collaborate successful said couldnt proud team works together collaborative way think ill take call standpoint last closing remarks would like say open lines communication id like share thoughts closing q3 another good quarter company 16th consecutive quarter met exceeded earnings guidance believe fair say strategies strategic plan spp strategic planning process continue work well investors analysts conference september discussed next three years spp reposition brand reviewed research gain deeper understanding jennifer new mission serve everyone like family new vision mission vision values new brand line serve big save lots also unveiled store future well bring brand principles life fun engaging shopping experience showcasing furniture seasonal upfront ownable businesses weve talked many quarters soft home prominent positioning store well store future future sidelines color coordinated wayfinding storage easier instore navigation warm colors floors walls increased number visual decorating solutions jennifer focus local communities example serving big national pointofsale donation campaign nationwide childrens hospital third consecutive year big lots associates jennifers across country participated campaign support lifesaving work research nch 45week period donations 31 million received another successful campaign associates highly energized engaged campaign right thing helping us focus community retailer jennifer wants us thanksgiving weekend teams walked lot retail competitors believe stores merchandise assortments value propositions look good good ready jennifer ownable winnable merchandise strategy trendright tasteful assortments coordinated across furniture christmas trim soft home create relevance theyre destination jennifer prepares holidays point season however comes one thing believe better anybody thats execution people sincere thanks associates stores field organization distribution centers office columbus efforts contributions results quarter whether preparing holiday shopping season planning investor analyst conference giving back communities serve variety charitable initiatives teams dedication passion focus culture contributing factor strong financial results one team one goal never excited future company ill turn call back andy andy regrut vice president investor relations thanks david please open lines questions time operator ladies gentlemen ask question please press 1 key telephone ensure every question ask limit question one per phone line take first question vincent sinisi morgan stanley vinny sinisi morgan stanley analyst hey terrific thanks much guys good morning thanks taking question wanted ask helpful category hear category color sounds like certainly merchandising strategy continuing gain traction guess maybe heart question kind youre seeing core consumer rate category color sounds like certainly discretionary categories seasonal furniture well kind backdrop kind see consumer spending maybe far kind fourth quarter right guidance maybe little early quarter kind seeing whether responding kind general overall health david campisi chief executive officer president director sure vinny david would tell vinny sinisi morgan stanley analyst good thank david campisi chief executive officer president director good question would tell know product standpoint weve saying long time continues get stronger stronger know youre fairly new story dont check boxes say done always working improved sharpening saw continuous improvement however want look people clearly understand thinking talked spp weve got things coming road next year year 3 navigate current todays environment product offering weve never looked better store futures columbus especially phoenix amazing see store redone new store columbus thats brandnew store nothing inside product absolutely incredible responded big way surprise furniture seasonal well soft home holding food consumables said call food comp consumables comp positive would say encouraged early game encouraged performance store future food area well consumables said look consumer thing youre asking stores customers like retailers jennifers shop big lots today absolutely love big lots theyve seen new format theyre confused according tj michelle opened phoenix folks walked door come back make make sure right store presentation point view thats encouraging navigate stores tj many years going take us going three years two years encouraging seeing consistent better traffic albeit enormously better national average pretty consistent quarter weve ahead tj number give would say second traffic outperforming piece shes seeing something likes key whole success future get new jennifers across board said guys humming together consumer standpoint give little bit color maybe small challenge sales standpoint business inaudible enormous thing still everything impacts overall seeing nice things happen across board merchandising world critical continue flow product properly happy right tim johnson chief financial officer chief administrative officer executive vice president yes vinny tj let add little bit think easiest way think coming third quarter going fourth quarter ownable winnable pieces particularly seasonal soft home furniture performed well quarter continued pretty good results start holiday season particularly month november encouraged say positive comp perspective november comfortably within range guidance weve given full quarter clearly jennifers responding positively continues respond positively winnable sponsoring positively new seasonal assortments across categories set stores encouraged key attributes additionally store future key markets weve moved categories forward seeing good results emphasizes us ownable businesses key strategy going forward working vinny sinisi morgan stanley analyst ok thats helpful color thank guys best luck quarter tim johnson chief financial officer chief administrative officer executive vice president thanks operator thank well go next question dan wewer raymond james please go audio gap dan wewer raymond james analyst thanks provide bit commentary industry challenges furniture category im looking data correctly looks like last time furniture low single digits first quarter 2014 david campisi chief executive officer president director sure david another good question would tell spent lot time weve spent lot time furniture obviously biggest business company top fact tj entire team well tj lisa buyers ceo folks serta continue outperform industry showed us information thats tough business lot folks getting market share built product looks fantastic stores small increase price programs really really wellreceived said youre seeing huge negative numbers come brands need mention importantly retail general would tell told us definitely outperforming rest guys thats part strategy following furniture ownable businesses definitely saying theres pressure theyre looking us saying sweet spot know price point national level ability buy today upholstery thing categories take home today phenomenal success along tj team execution nick progressive financing model stores think definitely give color want phenomenally successful driving tim johnson chief financial officer chief administrative officer executive vice president think dan addition david mentioned clearly martha robert team newness youll see across upholstery see reset serta david mentioned see fireplaces low singledigit comps quarter q3 clearly weve performed better important notice 15th quarter row category comp positive comp comp continues mantra team executing lease purchase continues grow ever slightly quarter percent penetration know thats working big lots credit card know thats working additionally move forward store customers increases awareness store future seeing outsized furniture comps continue think right track emphasizing furniture ownable category think thirdquarter perspective thing noticeable softness us really labor day weekend kind difficult across furniture space serta supported david mentioned broadly look retailers lisa martha robert thats verified labor day soft period us think performance would positive additionally come fourth quarter mentioned month november furniture pretty decent month well could use little bit help could help us little bit cold weather need sell fireplaces fourth quarter first quarter weather turns business turn confident quality david campisi chief executive officer president director well figure dan give tj call dan wewer raymond james analyst ok thank operator thank well take next question paul trussell deutsche bank paul trussell deutsche bank analyst good morning tim johnson chief financial officer chief administrative officer executive vice president morning paul trussell deutsche bank analyst wanted ask quick ones also top line wanted know apologize missed impact thats notable hurricane standpoint top line ebit also take bit food consumables business particularly seeing pricing competition standpoint think assortment heading yearend david campisi chief executive officer president director thanks paul david ill let tj talk numbers question definitely something hear lot team strong point view flooding hurricanes et cetera youve got things actually impactful theyre impactful business offset last part question ill take tj tim johnson chief financial officer chief administrative officer executive vice president paul hurricane perspective didnt hear us call major challenge quarter sales perspective thats didnt stores impacted business responds little bit differently around types event actually see buildup lift business ahead weatherrelated events like people stock kind hunker happened whether texas whether florida obviously event happens traffic tough across retail people come back afterwards difficult us longer period time really straight face tell impact theres something wasnt significant enough us volume perspective quarter significant item note though two weatherrelated events actually challenge one distribution centers unrelated hurricane pretty severe roofing damage caused us way 1 million deductible business operation distribution center impacted credit carlos todd entire montgomery distribution center team letting impact total business theres cost additionally stores close hurricanes et cetera whether itd houston florida freezers coolers like retailers cant long period time incur cost way well prepared comment apologize didnt register fully incurred costs 2 million 003 quarter related hurricanes thats 006 number posted would closer 008 009 1 comp think feel good model performed put factors consideration food consumables perspective ill turn david terms pricing part question david campisi chief executive officer president director ok paul ill finish turn next food piece im sure things cover paul cover lot big job would tell cant pick something get everything category every day whats going food starting really would say probably im going throw number somewhere 18 24 months ago started seeing real pressure pricing ill give example obviously everybody really kind wondering amazon purchase whole foods walmart really gotten aggressive duking everything would say new york different people talk arent going somebody go home food put refrigerator said tested amazon website ordered product thats dry groceries came amazon sack came day whole foods product theres something going beyond right cause think thats rounding error today look means future going especially animal seattle never lets look traditional grocery look kroger perfect example whats happened many quarters tj many quarters think 20 actually remember last number two years ago backtoback positive comps werent 1 lot higher theyve lot pressure know guys spent eight years fred meyer like kroger fred meyer california pressure pricing big time come gas coming food pricing got negative negative gross margin food traffic drivers theyve long time number one dont know lot us like loves cook fresh shocked week leading thanksgiving prices lower ive ever seen kroger store see little bit whole foods thats really benchmark use theyre right back beating heck pricing price right certainly stocks good dry grocery industry thing duking market share period using prices paul trussell deutsche bank analyst really quick followup tj believe reiterated fourthquarter guidance gross margins slightly give us puts takes believe analyst day optimistic positive ability gross margins expand time tim johnson chief financial officer chief administrative officer executive vice president yes think two simple factors paul think unique fourth quarter go back look 2016 fourth quartermargin rate pretty significantly theres two factors play fourth quarter think first half shrinkage last year favorable storelevel inventory results currently forecasting level adjustment favorability fourth quarter well know january inaudible storelevel second piece think difficulttoquantify impacts hurricanes things inbound transportation rates market becoming tighter tighter price challenge inhibits ability little bit bullish margin rates going fourth quarter need get product need get stores efficient way sometimes pricing market little prohibitive way said feel good month november sit volume perspective gave us little confidence looking full fourth quarter based november results well november selling key categories thats kind stand fourth quarter paul paul trussell deutsche bank analyst thank best luck tim johnson chief financial officer chief administrative officer executive vice president yup thanks operator thank lets take next question alvin concepcion citi please go ahead alvin concepcion citigroup analyst thanks taking questions curious store future location kind comp lift seeing expect 2018 followup im also wondering ecommerce learning far fourth quarter im curious instore purchase basket compares instore purchase basket frequency basically david campisi chief executive officer president director thanks alvin think tj ill tagteam obviously handles construction side store future mike hr nick handles execution travel went south carolinas list phoenix dallas youve got two done south carolina believe austin texasll get started first next year early im pleased pleased im going let tj speak dont think going kind share specifics comps would tell outperforming company happy ill add color questions ecom still crawl stages volume doesnt sales point view really impact would say still working question asked bringing traffic answer think talk around think isnt good enough know got work see really nice beautifully done ecommerce website team passionate looks fantastic intentionally well know tj ive spoken many others willing run side business reasons nobody thought three years ago said im really pleased team traffic store thing side tj talk talk little bit tim johnson chief financial officer chief administrative officer executive vice president yes alvin let start first question first nice try going quantify comps yet columbus phoenix ill say way every major data point looking financial standpoint positive encouraged sales good seeing nice lifts stores store thats getting lift whereas outlier understand usually something thats external outside control feel good columbus lifts feel good phoenix lifts also feel good fact actually phoenix better columbus important thing mention important reason 2000 miles away sit sometimes david mentioned many many times get home little difficult check make sure understand whats going instance weve got great team ground 2000 miles away theyre great job phoenix feel good also important mention phoenix little bit older market little bit tired columbus thats recent store openings think chain markets across country probably lot stores look like phoenix columbus thats encouraging us think weve moved three categories forward saw investor conference furniture seasonal soft home absolutely right decision categories significantly outperforming store theres little bit hesitancy moving food consumables back store even though 10 12 steps used moving food consumables back store doesnt seem concerning jennifer isnt necessarily negatively impacting business total thats net positive us think additionally weve actually done get away quantitative piece little bit qualitative weve done consumer research friends alloy shared board earlier week theres significant amount positive feedback directly shopping along alloy stores weve learned lot short period time another example crossfunctional alignment david mentioned earlier parts business nick stores team real estate team merchants martha michelle allocation craig done great job keeping stores business would ask continue give us time understanding data points seeing date still positive positive talked september terms rollout schedule 2018 remodel stores blendandextends new stores starting process early postholiday next markets feel good sit store future let us get holiday season see stores react holiday november december much different animal us important understand communicate anything terms results guess would echo second part question david mentioned encouraged good work ecom team done volume building expected operating loss mentioned third quarter like second first trend right every bit good guidance little bit better operating loss decline year year team making really good progress dont think theres much else material nature talk related ecom david campisi chief executive officer president director last thing would add great callout tjs part reminding exactly say time means away think retail challenge everyone theres local retail anymore days hate admit old im local department stores inaudible could check 25 40 50 stores ill say said earlier hes right away get always challenging right backyard doesnt mean perfect across country damn close ill tell one reason execution nick team mike hr product line importantly inaudible weve added sku count huge way stores executive better tjs comment right money honestly didnt know going happen people execution used like many retailers still stealth visit inaudible whole market would inaudible like anymore great callout proud folks alvin concepcion citigroup analyst great thank much david campisi chief executive officer president director yup operator thank go next question patrick mckeever mkm partners please patrick mckeever mkm partners analyst thanks good morning guys question closeouts im wondering seeing much change closeouts availability types products pricing vendors kinds things given store closings across retail vendor dislocation david campisi chief executive officer president director hi patrick david certainly another one tj add little talked board ill start areas buy closeouts know andtj andy spoken many times called investor conference september food consumables primarily fact food consumables would say food industry availabilitys changed significantly changed believe day thats said many years ago world changing technology big guys consumables think dont need mention big players big brands theyve finally figured overproduce importantly change shape size ounce products every quarter every halfyear whatever theyve got model tested working strategic point view availability area significantly standpoint used would saytj lisa michelle tj talking theyd tell talked literally yesterday day cases branded guys cases areas availability far offsetting numbers tell certainly theres impact distribution point view availability tj consistently told everyone else belief 45 years ago studying company got cant live die tells 16 consecutive quarters meeting beating consistency business thats pretty mature compared guys space think understand weve got ta thats whats going feeling food closeouts tj anything add tim johnson chief financial officer chief administrative officer executive vice president yes patrick guess remind everybody used buy closeouts number different categories store outside food consumables walked away business happened business got better soft home great example used buy much closeouts hard home first positive comp number years category think lets give merchants ton credit really going sourcing firstquality goods providing great value categories still closeouts food consumables albeit lower rate used jennifer told us loud clear wants us consistent think moreover important thing still pricecompetitive actually number colleagues price comparisons shows us shows investors positive also think challenges theres shrinking environment terms closeouts food consumables another good reason strategy around ownable furniture seasonal soft home right shift two three years ago jennifer sees great value categories store provides full solutions decorate home great move really focus thats core strength right food consumables important business roughly third business one suggesting moving away whatsoever going aggressive categories jennifer able differentiate big lots going forward really ownable piece furniture seasonal soft home patrick mckeever mkm partners analyst thank operator thank well go next question bradley thomas keybanc capital markets please go brad thomas keybanc analyst yeah hey thank good morning tim tj congratulations strong execution quick housekeeping item question furniture category could tj ecommerce sounds like change sales operating income im sure ecommerce wanted clarify quantification standpoint changes tim johnson chief financial officer chief administrative officer executive vice president anything brad thats good question anything assumptions around ecommerce quarter gotten little bit better full year would suggest trending toward better end guidance ecommerce annual basis gave beginning year good job team incrementally getting little bit better quarter brad thomas keybanc analyst great im hoping circle back furniture category looks like maybe slowed little bit cadence 2q clearly still bright spot growth driver going forward hoping youd talk little bit cadence category youre thinking growth opportunity likelihood category could potentially accelerate back midsingle digits consistent basis color easy leasing performing thats accelerating decelerating david campisi chief executive officer president director great question ill take part let tj talk phenomenal weekend week say every day last week exceptional progressive back original part furniture brad know us us consistently told ownable im going share comps say store future bringing center right front different flooring discount competitors far away along strategy think continue key driver tj told mentioned second quarter third quarter labor day primarily little bit postlabor day really significantly hit still lot volume otherwise comp would probably busted high singles believe said key suppliers whether united upholstery guys serta look simmons build fireplaces thats like tj said offer tremendous value thats product look outperforming industry think probably know based things cover well continue get better roll store future every year certainly going larger 18 19 17 going impact growth driver well customer lot stores front stores feel good response fantastic outperforming industry dont see see nothing upside even said furniture front 1480 whatever store tj netnet 50 inaudible progressives heck job driving volume whole thing tell certainly significant number customer needs kind financing coming big lots strategy continue become bigger buy today take home today think tj talk piece critically important team stores execution tracks daily know whats going getting better think itll continue get bigger tim johnson chief financial officer chief administrative officer executive vice president think david covered brad mean noted softness around labor day actually came september october october pretty decent month furniture perspective better august september mentioned furniture comp november newness matters yes progressive important part business still 15 16 business 80 85 business martha robert team providing great quality product everyday confident furniture team strategy could help us fireplaces cold weather well take thats good quality weve delivered new team feels good jennifer responding wouldnt underestimate power store teams focused furniture know successful make bonus quarterly basis win furniture win seasonal win soft home ownable strategy front forward really really key everybody gets david campisi chief executive officer president director last thing move tj said thats second time hes mentioned brad someone else weather card help us weather chuckled guys know tj talked guys many times folks know inaudible cant control people ask keeps night say four ws weather 1 cant control add magical thing tj let know thrilled second one obviously talk washington wall street garbled wall street would probably actually last got craziness world going cant control things weather one definitely control kind people garbled happy weathers warm yes weather categories albeit thank god exited apparel 45 years ago whatever cause impact things like heaters fireplaces bedding winterdriven type category businesses could go significant scheme things think really well even weather face brad thomas keybanc analyst thats helpful tj quick accounting question remodels remind us affect samestore sales next year assume take comp base remodel go back youre done tim johnson chief financial officer chief administrative officer executive vice president stay comp base brad reason us pull store actually expand store think threshold expand store 20 pull store comp base 12month period full remodel included comp base think thats fairly consistent others treat store remodels brad thomas keybanc analyst perfect looking fireplaces guess next months tim johnson chief financial officer chief administrative officer executive vice president right brad operator thank well go next question anthony chukumba loop capital markets anthony chukumba loop capital analyst good morning thanks taking question bit followup brads question progressive also inaudible credit card wanted see changes anything call progressive either acceptance perspective guess approval perspective well creditlimit perspective second question private label credit cards mentioned progressives penetration gone 15 16 furniture wondering penetration privatelabel credit card point tim johnson chief financial officer chief administrative officer executive vice president yes anthony tj thanks question think progressive standpoint easy leasing number varies weektoweek little bit would think trending 15 16 range annual basis ticking ever slightly quarter really think last 90 days move simplified approach initial payment 45 big big win us big big win probably importantly jennifer loves wouldnt necessarily think approval enhancer helps build basket approval rate still trends around 70 happy big moment progressive specifically furniture right also growing seasonal encouraging bigger growth opportunity building basket youve followed us quite remember first launched program approval rate probably mid60s basket probably low 600s approval rate moved higher around 70 basket many weeks 700 750 thats really big move privatelabel credit card perspective think little bit differently overall impact furniture program lot lot smaller mean youre talking maybe low singledigit number importantly wasnt necessarily seen furniture enhancer although well take happens importantly another form financing jennifer shes approved card hand use entire store strategic store one category netnet happy programs found right partners store teams fully embraced programs mike stella teams hr done great job training perspective along stores team back comment earlier similar ownable winnable teams understand successful bigticket product particularly successful easy leasing successful opening credit cards anthony chukumba loop capital analyst thats helpful thank tim johnson chief financial officer chief administrative officer executive vice president yup bet operator thank well go next question laura champine roe e audio gap laura champine roe equity analyst good morning thanks taking question footprint next year beyond look developed new storeofthefuture format real estate availability probably pretty decent think time start growing store base even keeping flat compared recent declines square footage weve seen david campisi chief executive officer president director thats great question laura ill let tj take ill tell standpoint go tj team real estate havent added lot weve added new stores like example tj team take look whether phoenix whatever think garbled closed four stores market werent worth spending money tell detail team sat said want 18 looked components relos phenomenal relos depending market overall strategy team put place really careful whats worth spending money jumped stores team new locations really cases performing high level hes got much details would tell humming group group guys obviously work store folks regionals district team leaders get opinion literally go every single store store future extremely confident program guys developed ill let talk 18 tim johnson chief financial officer chief administrative officer executive vice president yes laura theres really material update shared investor conference 60 days ago topic think higher level talked opening new stores 18 19 20 16 17 although think would challenged get point would open stores close think big big opportunity relocate stores markets obviously open close think good goal us try ill say net neutral open stores new close volume perspective davids point weve good success late opening highervolume stores volume stores company average good markets good locations dont necessarily see us net count rather see opportunity flatten volume differential potentially grow volume open volume stores let pivot back though store future really number projects going 2018 think important understand part question still mindset remodel 125 stores thats consistent investor conference materials two months ago still believe theres opportunity open 30 new stores next year still believe theres opportunity blend extend scenario 25 stores importance add get 180 stores new store future format thats 15 fleet pretty good work 12month period nothing changed regard well focus part operating plan shared board earlier week healthy dialogue around store future results quantitative qualitative standpoint moving forward advertised 2018 real estate hopefully helps answer question laura champine roe equity analyst thank tim johnson chief financial officer chief administrative officer executive vice president yup operator thank next question comes matthew boss jpmorgan matthew boss jpmorgan chase analyst thanks largerpicture question broke samestore sales improvement youve seen past two years guess greater spend existing core customer base seen expansion income demographic shopping stores david campisi chief executive officer president director matt dont know suggest weve seen expansion income demographic perspective think ill look little bit differently dont think seeing evidence better job infrequent customer core customer loves us continues shop us often big big advocate however think making little progress infrequent customer might shopped us twice year whos shopping us little frequently bigger basket core customers thats information comes rewards program loyalty program think important note kind glossed opening comments relaunched rewards program stores jennifer early part fourth quarter weve seen positive results simplified program tested number markets saw sales lift saw signup lift think nice enhancement go holiday season hopefully gives us little extra leg growth go next year thats best information matt different types customers shop stores responding matthew boss jpmorgan chase analyst great followup tj look next year guess best think comp order leverage sgampa light investments youve outlined highlevel insights overall algorithm next year tim johnson chief financial officer chief administrative officer executive vice president changes since investor conference matt sixty days ago talked really leveraging model coming slight increase gross margin rate comp needed leverage sgampa would increase flat probably 1 2 range nothings changed regard investments stores primarily also new distribution center california threeyear plan obviously moved new office columbus plan threeyear basis well nothing changed regard nothing changed merchandising perspective terms ownable winnable key elements strategy help drive gross margin improvement changes 60 days ago david campisi chief executive officer president director one last thing ill move question know theres big opportunity us tj absolutely right weve done research outlay shows customers almost every income would surprise much make know value proposition feel opportunity well working 18 beyond 19 talked board yesterday little bit environment today retail well know difficult 16 consecutive quarters comping think one meeting beating guidance every quarter figure putting strategy place wont happen 18 19 fully certainly plan strategically position brand garbled see store future matthew boss jpmorgan chase analyst ive seen yes david campisi chief executive officer president director tj clearly said loves us getting frequency critical simultaneously need put strategy together says next three years three five whatever brand identity thing powerful tells shopper loves shes seeing even infrequent ones thats great lets get future get new customers lot retailers say thats easy well agree guys space customer knows two everything moon big lots candidly tj lisa whole group merchants everybody across board love however thats great advertise print necessary evil know weve got opportunity marketing areas dabbling theres things need put plan together says brand identity image good customers love us ones people never shopped us identity thing store full stuff right tjs keyword consistency talked team courage confidence take direction say got curious bunch piece productwise executionwise weve got ta figure story get new customers thats going focus youd probably say going figure cause different guys completely turned model upsidedown thats great person doesnt know doesnt know much come excited tim johnson chief financial officer chief administrative officer executive vice president thanks matt operator thank well go next question joseph feldman telsey advisory group joseph feldman telsey analyst hi good morning guys thanks making time question one followup one kind longerterm question guess followup first furniture talk little know weve asking comp trend think goforward sense said tj think positive basically 15 quarters row obviously strong area know big centerpiece store future think given little bit mature point think low midsingle type growing business versus mid high single past couple years tim johnson chief financial officer chief administrative officer executive vice president yes guess joe think year 17 17 years weve received question youre going continue comp furniture consistent business us longer 15 quarters think perspective talked analyst day really low singledigit comp company furniture seasonal soft home would outcomp total store nothing changed regard didnt speak specifics around midsingle high single low double digits anything like know need win three categories winning three categories store future gives us confidence well continue win categories including furniture one interesting pieces customer research elevated level goodquality perception jennifer store future relates furniture see front store opportunity experience welldesigned vignettes etc going continue work things present furniture sales training 20 took place third quarter well really multifaceted approach continue drive furniture ownable businesses maturity question id say focus lot really martha robert team along lisa focused continue elevate quality continue evaluate value fashion piece furniture really continue comp growth going forward said second question joseph feldman telsey analyst thats really helpful tj one know may little soon provide color think next year variables consider going anniversary terms operating profitability maybe gross margin sgampa onetime things like example know hurricanes get 2 million expenses back next year third quarter things like think tim johnson chief financial officer chief administrative officer executive vice president would suggest going forward 18 theyre going small items anniversary make light 2 million big number guess point view hasnt anything thats rose level know activity happened year nongaap material enough move needle nongaap something really call clearer picture thats part running business little bumps road surprises good road every quarter really making sure manage entire pampl able im aware anything significant joe look 2018 advertised 53rd week retailers something think next years growth factor 53rd week joe thats theres nothing thats overly concerning point view joseph feldman telsey analyst great thanks tj good luck quarter guys holidays thanks tim johnson chief financial officer chief administrative officer executive vice president thanks joe operator thank well take next question today peter keith piper jaffray please go ahead peter keith piper jaffray analyst hi thanks good morning guys two quick questions furniture seasonal soft home growing drumbeat categories moving online recent months pure play ecom guys also traditional brickandmortar people pushing aggressively think making investments move categories online perhaps side think core customers bit creditchallenged invest store enhance experience second followup question hurricane rebuild benefit youve seeing recent months inaudible houston thats benefited certain categories david campisi chief executive officer president director peter would take part tj wants add second piece would tell ive spent lot time competitors stores executive team focusing theyre well obviously thats whole ownable thing came inaudible furniture yea everyone sells furniture brickandmortar im sorry guys sell furniture brickandmortar like nrh whole restoration hardware group theyre ore premium guys price points higher online presence thats pretty good dont know penetration im sure could figure well hard figure rh brands underneath look beyond look competitors brickandmortar go stores dont see categories carry theyre focused categories candidly dont believe inaudible fact tj long ago pointing size box cant things everyone even big ones confusing theres much cant categories look online though whole different animal word amazon going expand furniture offerings ive gone ive seen way youve seen wayfair sure theyre probably going crack code like everything else today dont see wayfair hand definitely somebody talk every single week watch website done test orders see smoke mirrors free shipping real stuff got tell something know part reason crawl mode want make sure understand critical future looks like today look trying online big heavy ticket like youre free shipping stuff weighs god knows ive talked tj carlos distribution transportation youre never going make money stuff shipping cost huge thats tj give spends lot time team lisa category garbled guys know numbers everybody knows get free pass comes one side question ok thats kind difficult model guys like us think know reasons think rest definitely local guy local guy national brickandmortar guys also interesting things shipping tim johnson chief financial officer chief administrative officer executive vice president peter guess think way two best categories online us seasonal soft home seasonal particular sees highquality highvalue soft home two key drivers ecom business good reason furniture piece small parts furniture business online going test different ways putting product online david mentioned really shipping piece testing much anything want make sure put product online weve got reasonable chance making money seasonal soft home key drivers something probably spend time focusing furniture kind test mode go 2018 doesnt require first part question doesnt require significant investment significant capital investment rebuild efforts second question asked happening houston houston one better comping districts certainly enough drive total company comes back business responds little bit differently type weather events see buildup stock youll see people go away weather happens see come back nothing significant enough rises anything impacting total company certainly stores hopefully helps understand little bit better whats going relates weather peter keith piper jaffray analyst yeah helpful guys good luck rest holiday season andy regrut vice president investor relations ok thank everyone emma please close call replay instructions operator certainly thank ladies gentlemen replay call available 12 noon eastern time today replay end 1159 pm eastern friday december 15 2017 access replay dialing tollfree usa canada 1 888 2031112 enter replay passcode 8562612 followed sign international 1 719 4570820 entering replay passcode 8562612 followed sign ladies gentlemen concludes todays presentation thank participation may disconnect duration 93 minutes andy regrut vice president investor relations david campisi chief executive officer president director tim johnson chief financial officer chief administrative officer executive vice president vinny sinisi morgan stanley analyst dan wewer raymond james analyst paul trussell deutsche bank analyst alvin concepcion citigroup analyst patrick mckeever mkm partners analyst brad thomas keybanc analyst anthony chukumba loop capital analyst laura champine roe equity analyst matthew boss jpmorgan chase analyst joseph feldman telsey analyst peter keith piper jaffray analyst big analysis opens new window article transcript conference call produced motley fool strive foolish best may errors omissions inaccuracies transcript articles motley fool assume responsibility use content strongly encourage research including listening call reading companys sec filings please see terms conditions opens new window additional details including obligatory capitalized disclaimers liability 10 stocks like better big lotswhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right big lots wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns december 4 2017 motley fool position stocks mentioned motley fool disclosure policy opens new window | 7,678 |
<p>"We have been very clear to the Assad regime, but also to other players on the ground, that a red line for us is we start seeing a whole bunch of chemical weapons moving around or being utilized," President Obama said on in August of 2012. "That would change my calculus. That would change my equation."</p>
<p>After innumerable violations since 2012, the ex-president’s morally-bankrupt “redline” has been transgressed yet again.</p>
<p>On Tuesday, monitoring groups and medics in Syria reported that the Assad regime had once again deployed sarin gas in the rebel-held area of Idlib, killing at least 58 people and injuring more than 300. These figures are likely a low-ball estimate provided by the health authority in the province.</p>
<p>According to the the Union of Medical Care Organizations, a coalition of international aid agencies that has funded hospital and medical operations in Syria, at least 100 people died as a result of the attack.</p>
<p>If true, Tuesday’s chemical attack would be the deadliest in months.</p>
<p>The level of barbarity exhibited by regime forces speaks to the cruelty of the Assad regime. Not only did Syrian warplanes target civilian infrastructure, but the attack appeared to be a “double-tap” strike; after the initial sarin gas attack, civilians were hit once again by more warplanes as they received treatment at a makeshift medical center.</p>
<p />
<p>As heartbreaking images of infants gasping for their final breaths of air circulated across the world, the regime denied having a part in turning the town of Khan Sheikhoun, where the attack was centered, into a graveyard.</p>
<p>"We deny completely the use of any chemical or toxic material in Khan Sheikhoun town today and the army has not used nor will use in any place or time neither in past or in future," <a href="https://www.reuters.com/article/us-mideast-crisis-syria-idlib-idUSKBN1760IB" type="external">said</a> the Syrian army command in a statement.</p>
<p>However, the army’s statement runs contrary to the facts on the ground.</p>
<p>The British-based Syrian Observatory for Human Rights said it has gathered strong circumstantial evidence to justify allegations against the Assad regime:</p>
<p>Reuters <a href="https://www.reuters.com/article/us-mideast-crisis-syria-idlib-idUSKBN1760IB" type="external">reports</a>:</p>
<p>Director Rami Abdulrahman told Reuters the assessment that Syrian government warplanes were to blame was based on several factors such as the type of aircraft, including Sukhoi 22 jets, that carried out the raid.</p>
<p>Sarin gas is a banned substance under international law. Deploying chemical weapons against civilians is considered a war crime by the United Nations and other international monitoring groups.</p>
<p>Accordingly, world leaders quickly condemned the attack on Idlib, placing blame squarely on Bashar al-Assad’s shoulders.</p>
<p>The U.N envoy for Syria called the chemical attack "horrific" before scheduling a meeting on Wednesday to brief Security Council members on the fallout of the attack.</p>
<p>Tuesday’s attack was undoubtedly a “war crime,” <a href="http://www.belfasttelegraph.co.uk/news/uk/may-demands-probe-into-syria-chemical-weapons-attack-35593165.html" type="external">asserted</a> British Foreign Minister Boris Johnson, adding that it was “unbelievable” for parties responsible for truce negotiations to think that Assad could have any place in post-war Syria.</p>
<p>Johnson’s boss, Prime Minister Theresa May, even called for a probe into Tuesday’s attack.</p>
<p>"I'm appalled by the reports that there's been a chemical weapons attack on a town south of Idlib allegedly by the Syrian regime,” <a href="http://www.belfasttelegraph.co.uk/news/uk/may-demands-probe-into-syria-chemical-weapons-attack-35593165.html" type="external">said</a> May, adding:</p>
<p>We condemn the use of chemical weapons in all circumstances...</p>
<p>If proven, this will be further evidence of the barbarism of the Syrian regime, and the UK has led international efforts to call to account the Syrian regime and Daesh for the use of chemical weapons and I would urge the Organisation for the Prohibition of Chemical Weapons to investigate this incident as soon as possible.</p>
<p>I'm very clear that there can be no future for Assad in a stable Syria which is representative of all the Syrian people and I call on all the third parties involved to ensure that we have a transition away from Assad.</p>
<p>We cannot allow this suffering to continue.</p>
<p>The French foreign minister shared his utter disgust after hearing reports of another chemical weapons attack.</p>
<p>“A new and particularly serious chemical attack took place this morning in Idlib province. The first information suggests a large number of victims, including children. I condemn this disgusting act,” <a href="http://indianexpress.com/article/world/france-wants-un-security-council-to-meet-after-disgusting-syria-gas-attack-4599620/" type="external">stated</a> Jean-Marc Ayrault.</p>
<p>In contrast, the U.S. administration struck a more ambivalent tone. Conceding that the Assad regime is a “political reality,” White House Press Secretary Sean Spicer blamed former President Obama’s “weakness” and feckless “redline” for Tuesday’s attack.</p>
<p>To be clear, Spicer is by no means wrong in his assessment that it was President Obama who allowed the Assad regime to continue slaughtering and gassing its way to victory. However, the Trump administration’s stated policies toward Assad appear to mirror Obama’s de facto Syria policy. Both the previous administration and the current administration have set out to work with the Russia, the primary state patron of the Assad regime, to fight ISIS forces in the region while allowing the butcher of Damascus to remain in power.</p>
<p>And yet, senior officials within the Trump administration have sent out mixed signals about who or what is to blame for Tuesday’s unimaginable regime-made tragedy.</p>
<p>After refusing to comment and receiving copious criticism from the Right and Left, Secretary of State Rex Tillerson, who has <a href="https://www.google.com/webhp?sourceid=chrome-instant&amp;ion=1&amp;espv=2&amp;ie=UTF-8#q=tillerson+russia&amp;*" type="external">previously parroted Kremlin and pro-Russian talking points</a>, came out late Tuesday to condemn both Moscow and Damascus for their latest massacre.</p>
<p>The Assad regime operates "with brutal unabashed barbarism,” Tillerson said before bluntly claiming that Russia bears "great moral responsibility.”</p>
<p>So far, the Trump administration hasn’t proposed any changes in posture toward Assad or his Iranian and Russian allies. Other than promising to stand by American allies, the White House appears to be sticking with Obama-era policies, enabling the “political reality” of Assad to continue shedding Syrian blood.</p> | true | 0 | clear assad regime also players ground red line us start seeing whole bunch chemical weapons moving around utilized president obama said august 2012 would change calculus would change equation innumerable violations since 2012 expresidents morallybankrupt redline transgressed yet tuesday monitoring groups medics syria reported assad regime deployed sarin gas rebelheld area idlib killing least 58 people injuring 300 figures likely lowball estimate provided health authority province according union medical care organizations coalition international aid agencies funded hospital medical operations syria least 100 people died result attack true tuesdays chemical attack would deadliest months level barbarity exhibited regime forces speaks cruelty assad regime syrian warplanes target civilian infrastructure attack appeared doubletap strike initial sarin gas attack civilians hit warplanes received treatment makeshift medical center heartbreaking images infants gasping final breaths air circulated across world regime denied part turning town khan sheikhoun attack centered graveyard deny completely use chemical toxic material khan sheikhoun town today army used use place time neither past future said syrian army command statement however armys statement runs contrary facts ground britishbased syrian observatory human rights said gathered strong circumstantial evidence justify allegations assad regime reuters reports director rami abdulrahman told reuters assessment syrian government warplanes blame based several factors type aircraft including sukhoi 22 jets carried raid sarin gas banned substance international law deploying chemical weapons civilians considered war crime united nations international monitoring groups accordingly world leaders quickly condemned attack idlib placing blame squarely bashar alassads shoulders un envoy syria called chemical attack horrific scheduling meeting wednesday brief security council members fallout attack tuesdays attack undoubtedly war crime asserted british foreign minister boris johnson adding unbelievable parties responsible truce negotiations think assad could place postwar syria johnsons boss prime minister theresa may even called probe tuesdays attack im appalled reports theres chemical weapons attack town south idlib allegedly syrian regime said may adding condemn use chemical weapons circumstances proven evidence barbarism syrian regime uk led international efforts call account syrian regime daesh use chemical weapons would urge organisation prohibition chemical weapons investigate incident soon possible im clear future assad stable syria representative syrian people call third parties involved ensure transition away assad allow suffering continue french foreign minister shared utter disgust hearing reports another chemical weapons attack new particularly serious chemical attack took place morning idlib province first information suggests large number victims including children condemn disgusting act stated jeanmarc ayrault contrast us administration struck ambivalent tone conceding assad regime political reality white house press secretary sean spicer blamed former president obamas weakness feckless redline tuesdays attack clear spicer means wrong assessment president obama allowed assad regime continue slaughtering gassing way victory however trump administrations stated policies toward assad appear mirror obamas de facto syria policy previous administration current administration set work russia primary state patron assad regime fight isis forces region allowing butcher damascus remain power yet senior officials within trump administration sent mixed signals blame tuesdays unimaginable regimemade tragedy refusing comment receiving copious criticism right left secretary state rex tillerson previously parroted kremlin prorussian talking points came late tuesday condemn moscow damascus latest massacre assad regime operates brutal unabashed barbarism tillerson said bluntly claiming russia bears great moral responsibility far trump administration hasnt proposed changes posture toward assad iranian russian allies promising stand american allies white house appears sticking obamaera policies enabling political reality assad continue shedding syrian blood | 555 |
<p>Intel's more than two decade reign as king of the silicon-based semiconductor ended Thursday when Samsung Electronics surpassed the U.S. manufacturer to become the leading maker of the computer chips that are a 21st century staple much as oil was in the past.</p>
<p>Samsung reported record-high profit and sales in its earnings report for the April-June quarter, and while Intel's reported earnings beat forecasts, the U.S. company's entire revenue was smaller than sales from Samsung's chip division.</p>
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<p>Samsung said its semiconductor business recorded 8 trillion ($7.2 billion) in operating income on revenue of 17.6 trillion won ($15.8 billion) in the quarter.</p>
<p>Intel said it earned $2.8 billion on sales of $14.8 billion. Analysts had expected the U.S. chipmaker to report $14.4 billion in quarterly revenue.</p>
<p>"Given Samsung's strength today in flash memory, I am not surprised Samsung surpassed Intel in semiconductor revenue," said Patrick Moorhead, principal analyst with Moor Insights &amp; Strategy, adding that Intel may be able to catch up Samsung when Intel's memory output is at full production capacity in about six months. "I think we will see a lot of back and forth between the two companies."</p>
<p>On an annual basis, Samsung's semiconductor division is widely expected to overtake Intel's sales this year, analysts at brokerages and market research firms say.</p>
<p>Mobile devices and data are the keys to understanding Samsung's ascent as the new industry leader, even as its de facto chief is jailed, battling corruption charges, and it recovers from the fiasco last year over the fire-prone Galaxy Note 7 smartphones.</p>
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<p>Manufacturers are packing more and more memory storage capacity into ever smaller mobile gadgets, as increased use of mobile applications, connected devices and cloud computing services drive up demand and consequently prices for memory chips, an area dominated by Samsung.</p>
<p>Just as Saudi Arabia dominates in oil output, Samsung leads in manufacturing the high-tech commodity of memory chips, which enable the world to store the data that fuels the digital economy.</p>
<p>"Data is the new crude oil," said Marcello Ahn, a Seoul, South Korea-based fund manager at Quad Investment Management.</p>
<p>For over a decade, Samsung and Intel each ruled the market in its own category of semiconductor.</p>
<p>Intel, the dominant supplier of the processors that serve as brains for personal computers, has been the world's largest semiconductor company by revenue since 1992 when it overtook Japan's NEC.</p>
<p>Samsung is reaping the rewards of dominating in the memory chip market that is growing much faster than the market for computers that rely on processing units dominated by Intel, said Chung Chang Won, a senior analyst at Nomura Securities.</p>
<p>"Greater use of smartphones and tablet PCs instead of computers is driving the rise of companies like Samsung," Chung said.</p>
<p>Since 2002, Samsung Electronics has been the largest supplier of memory chips, called DRAMs and NANDs. But for years demand for memory chips was vulnerable to boom-and-bust cycles depending on output and on demand from the consumer electronics industry. At times, competition was brutal as supply gluts arose.</p>
<p>That changed in 2012 when Japan's Elpida filed for bankruptcy and was sold to Micron Technology, leaving only three major suppliers of DRAM, a type of memory chip used in servers, computers and handsets: Samsung Electronics, SK Hynix and Micron.</p>
<p>Tight supplies coupled with rock solid demand have pushed prices of memory chips higher, with average selling prices of DRAMs and flash memory chips doubling over the past year, bringing South Korea's memory chip makers record wide profit margins. Both Samsung and SK Hynix are expected to report all-time high profits this year.</p>
<p>Amid this boom that analysts call a memory chip "super cycle," global semiconductor revenue is forecast to jump 52 percent this year, reaching $400 billion for the first time, according to market research firm Gartner.</p>
<p>For the full year, Intel is expected to post $60 billion in annual sales, according to a market consensus polled by FactSet, a financial data provider. Samsung Electronics' semiconductor business is expected to report 71.9 trillion won ($62.6 billion) in full-year revenues.</p>
<p>Looking ahead, Samsung and SK Hynix, which control more than three quarters of the global DRAM sales, are raising their spending on semiconductor capacity and development in anticipation of robust future demand. SK Hynix raised its capital spending to 9.6 trillion won ($8.6 billion) this year, up more than 50 percent from last year. Samsung has said it plans to spend $18 billion in the next four years to expand memory chip production capacity at its South Korean plants.</p>
<p>Not just tech companies but also transport, retail, tourism, food and other industries are seeking ways to better use or manage data, to gain insights on trends or customer preferences and otherwise make money from "big data." The rising use of vehicle connectivity and the "internet of things" is expected to drive still further demand for the chips that have helped Samsung move ahead, at least for now.</p>
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<p>Lee can be reached on Twitter: www.twitter.com/YKLeeAP</p> | true | 0 | intels two decade reign king siliconbased semiconductor ended thursday samsung electronics surpassed us manufacturer become leading maker computer chips 21st century staple much oil past samsung reported recordhigh profit sales earnings report apriljune quarter intels reported earnings beat forecasts us companys entire revenue smaller sales samsungs chip division continue reading samsung said semiconductor business recorded 8 trillion 72 billion operating income revenue 176 trillion 158 billion quarter intel said earned 28 billion sales 148 billion analysts expected us chipmaker report 144 billion quarterly revenue given samsungs strength today flash memory surprised samsung surpassed intel semiconductor revenue said patrick moorhead principal analyst moor insights amp strategy adding intel may able catch samsung intels memory output full production capacity six months think see lot back forth two companies annual basis samsungs semiconductor division widely expected overtake intels sales year analysts brokerages market research firms say mobile devices data keys understanding samsungs ascent new industry leader even de facto chief jailed battling corruption charges recovers fiasco last year fireprone galaxy note 7 smartphones advertisement manufacturers packing memory storage capacity ever smaller mobile gadgets increased use mobile applications connected devices cloud computing services drive demand consequently prices memory chips area dominated samsung saudi arabia dominates oil output samsung leads manufacturing hightech commodity memory chips enable world store data fuels digital economy data new crude oil said marcello ahn seoul south koreabased fund manager quad investment management decade samsung intel ruled market category semiconductor intel dominant supplier processors serve brains personal computers worlds largest semiconductor company revenue since 1992 overtook japans nec samsung reaping rewards dominating memory chip market growing much faster market computers rely processing units dominated intel said chung chang senior analyst nomura securities greater use smartphones tablet pcs instead computers driving rise companies like samsung chung said since 2002 samsung electronics largest supplier memory chips called drams nands years demand memory chips vulnerable boomandbust cycles depending output demand consumer electronics industry times competition brutal supply gluts arose changed 2012 japans elpida filed bankruptcy sold micron technology leaving three major suppliers dram type memory chip used servers computers handsets samsung electronics sk hynix micron tight supplies coupled rock solid demand pushed prices memory chips higher average selling prices drams flash memory chips doubling past year bringing south koreas memory chip makers record wide profit margins samsung sk hynix expected report alltime high profits year amid boom analysts call memory chip super cycle global semiconductor revenue forecast jump 52 percent year reaching 400 billion first time according market research firm gartner full year intel expected post 60 billion annual sales according market consensus polled factset financial data provider samsung electronics semiconductor business expected report 719 trillion 626 billion fullyear revenues looking ahead samsung sk hynix control three quarters global dram sales raising spending semiconductor capacity development anticipation robust future demand sk hynix raised capital spending 96 trillion 86 billion year 50 percent last year samsung said plans spend 18 billion next four years expand memory chip production capacity south korean plants tech companies also transport retail tourism food industries seeking ways better use manage data gain insights trends customer preferences otherwise make money big data rising use vehicle connectivity internet things expected drive still demand chips helped samsung move ahead least __ lee reached twitter wwwtwittercomykleeap | 542 |
<p>As auto makers such as General Motors Co. and Ford Motor Co. along with tech companies including Google and Apple Inc. rush to develop self-driving vehicles or the software behind them, the world's largest auto market--China--is creating roadblocks.</p>
<p>Self-driving cars need detailed maps to help them discern their exact location, navigate tricky intersections and avoid fixed objects like buildings. But China limits the amount of mapping that can be done by foreign companies, citing national security concerns.</p>
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<p>Global car makers already need to partner with a local company to open factories in China, but some are skeptical they will be able to find a way to operate their autonomous-car software in China because of the mapping restrictions.</p>
<p>Brian McClendon, an industry pioneer who helped created Google Maps and later headed up Uber Technologies Inc.'s self-driving effort, said he doubted U.S. software would ever be adopted for self-driving cars in China.</p>
<p>"We're going to have a bifurcated market for self-driving--China will do China and the U.S. will do U.S. and the rest of the world will quickly choose and do one or the other," said Mr. McClendon, now a research professor at the University of Kansas.</p>
<p>To secure turn-by-turn navigation maps, foreign car makers currently work with Chinese mapping companies. But auto makers and tech firms may have reasons to hesitate before working with a third-party map provider in China on the high-definition maps needed by autonomous cars.</p>
<p>James Wu, co-founder of U.S. mapping startup DeepMap Inc., who formerly worked at Alphabet Inc.'s Google, Apple and China's Baidu Inc., said ownership of mapping data is crucial in self-driving cars.</p>
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<p>"If a non-Chinese company works with a Chinese local map company with a license, then who owns the data? Who would be responsible for safety issues, privacy issues, security issues associated with the map data? It is a pretty messy problem to sort out," Mr. Wu said.</p>
<p>GM, Apple and Ford declined to comment on the issue of mapping data in China. Alphabet's autonomous-driving unit, Waymo, didn't reply to an email seeking comment.</p>
<p>Earlier this year, Li Shufu, founder of Geely Automotive, the Chinese auto maker that owns Volvo, urged the National Committee of the People's Political Consultative Conference to relax the mapping barriers, which he cautioned could hurt the country's development of self-driving vehicles.</p>
<p>Unless his call is heeded, foreign tech and car companies will need to work with one of 13 Chinese companies licensed by the government for surveying and mapping. The three largest are Baidu, the AutoNavi unit of Alibaba Group Holding, and NavInfo Co., which is backed by Tencent Holdings.</p>
<p>German auto supplier Robert Bosch GmbH, for example, announced a partnership this spring with Chinese mapping firms including Baidu and AutoNavi to co-operate on high-definition maps there.</p>
<p>"The market with regards to maps in China is quite strongly regulated, which is different from other countries," said Renaud Bonhomme, director of advanced innovation and system engineering with a Robert Bosch unit in China.</p>
<p>South Korea's Hyundai Motors also announced recently it would use Baidu's maps in its vehicles sold in China, and said it is exploring joint efforts into autonomous driving technologies with the Beijing-based company. Baidu claims its high-definition maps have collected data from 300,000 kilometers of highway in China.</p>
<p>The Chinese companies are considered to be far behind Waymo, which launched in 2009 and has already chalked up more than three million miles of autonomous driving on public roads in the U.S. Baidu started its autonomous-driving research in 2014 and claims its high-definition maps have collected data from just 300,000 kilometers of China's nearly 5 million kilometers of roads.</p>
<p>German mapping provider HERE, owned by automakers Audi, BMW and Daimler, will bring its maps to China after receiving investment and forming a 50-50 joint venture with Navinfo last December.</p>
<p>Meantime, GM, Volvo and Daimler are in talks about possibly using high-definition mapping technology in China from Autonavi, according to a person familiar with the situation.</p>
<p>Mapping restrictions play out in a small scale today with Google's connected car platform Android Auto. Despite a rollout in 31 markets world-wide, Google's platform, which connects smartphone applications to a car's dashboard, isn't available in China.</p>
<p>Google's services, including Google Maps, are restricted by China regulators, resulting in a bad user experience for Chinese consumers, said Colin Bird, a senior analyst at IHS Automotive.</p>
<p>The California-based technology giant currently has only a local partnership to provided maps for desktop computers in China, and gaining permission to expand that to smartphones, cars and other uses could be problematic given the company's stormy departure in 2010 over government censorship of its search engine.</p>
<p>Further hurdles await foreign software and car companies beyond maps. They are likely to face difficulty gaining approval to conduct test drives in the country, as the government will seek to support its domestic enterprises, said Li Zhishan, an auto technology analyst at Analysys in Beijing.</p>
<p>Industry watchers say the situation is another reminder of the dilemma facing Western countries: China is too big to ignore, but there is always a price for a seat at the table.</p>
<p>"Once again, China uses leverage to lock in a competitive advantage, and can do so because they know everyone wants market access," said Michael Dunne, president of Hong Kong-based investment advisory firm Dunne Automotive.</p>
<p>Mike Colias in Detroit and</p>
<p>Wang Fanfan</p>
<p>in Beijing contributed to this article.</p>
<p>Write to Liza Lin at [email protected] and Tim Higgins at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>July 13, 2017 05:44 ET (09:44 GMT)</p> | true | 0 | auto makers general motors co ford motor co along tech companies including google apple inc rush develop selfdriving vehicles software behind worlds largest auto marketchinais creating roadblocks selfdriving cars need detailed maps help discern exact location navigate tricky intersections avoid fixed objects like buildings china limits amount mapping done foreign companies citing national security concerns continue reading global car makers already need partner local company open factories china skeptical able find way operate autonomouscar software china mapping restrictions brian mcclendon industry pioneer helped created google maps later headed uber technologies incs selfdriving effort said doubted us software would ever adopted selfdriving cars china going bifurcated market selfdrivingchina china us us rest world quickly choose one said mr mcclendon research professor university kansas secure turnbyturn navigation maps foreign car makers currently work chinese mapping companies auto makers tech firms may reasons hesitate working thirdparty map provider china highdefinition maps needed autonomous cars james wu cofounder us mapping startup deepmap inc formerly worked alphabet incs google apple chinas baidu inc said ownership mapping data crucial selfdriving cars advertisement nonchinese company works chinese local map company license owns data would responsible safety issues privacy issues security issues associated map data pretty messy problem sort mr wu said gm apple ford declined comment issue mapping data china alphabets autonomousdriving unit waymo didnt reply email seeking comment earlier year li shufu founder geely automotive chinese auto maker owns volvo urged national committee peoples political consultative conference relax mapping barriers cautioned could hurt countrys development selfdriving vehicles unless call heeded foreign tech car companies need work one 13 chinese companies licensed government surveying mapping three largest baidu autonavi unit alibaba group holding navinfo co backed tencent holdings german auto supplier robert bosch gmbh example announced partnership spring chinese mapping firms including baidu autonavi cooperate highdefinition maps market regards maps china quite strongly regulated different countries said renaud bonhomme director advanced innovation system engineering robert bosch unit china south koreas hyundai motors also announced recently would use baidus maps vehicles sold china said exploring joint efforts autonomous driving technologies beijingbased company baidu claims highdefinition maps collected data 300000 kilometers highway china chinese companies considered far behind waymo launched 2009 already chalked three million miles autonomous driving public roads us baidu started autonomousdriving research 2014 claims highdefinition maps collected data 300000 kilometers chinas nearly 5 million kilometers roads german mapping provider owned automakers audi bmw daimler bring maps china receiving investment forming 5050 joint venture navinfo last december meantime gm volvo daimler talks possibly using highdefinition mapping technology china autonavi according person familiar situation mapping restrictions play small scale today googles connected car platform android auto despite rollout 31 markets worldwide googles platform connects smartphone applications cars dashboard isnt available china googles services including google maps restricted china regulators resulting bad user experience chinese consumers said colin bird senior analyst ihs automotive californiabased technology giant currently local partnership provided maps desktop computers china gaining permission expand smartphones cars uses could problematic given companys stormy departure 2010 government censorship search engine hurdles await foreign software car companies beyond maps likely face difficulty gaining approval conduct test drives country government seek support domestic enterprises said li zhishan auto technology analyst analysys beijing industry watchers say situation another reminder dilemma facing western countries china big ignore always price seat table china uses leverage lock competitive advantage know everyone wants market access said michael dunne president hong kongbased investment advisory firm dunne automotive mike colias detroit wang fanfan beijing contributed article write liza lin lizalinwsjcom tim higgins timhigginswsjcom end dow jones newswires july 13 2017 0544 et 0944 gmt | 597 |
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<p>You may not know it yet, but the dotcom world is about to become a dot-anything world – and it’s likely to impact the way you use the web.</p>
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<p>Starting Jan. 12, <a href="http://www.icann.org/" type="external">the nonprofit organization that governs Internet domain names Opens a New Window.</a> will begin accepting applications for an almost infinite variety of generic top-level domains, or gTLDs. If you’re thinking a “gTLD” must have something to do with <a href="http://www.tmz.com/2011/10/16/the-situation-gtl-energy-drink-lawsuit-sued/#.TugEVLJFs_h" type="external">“The Situation” Opens a New Window.</a>, know that it’s actually a term used to describe what appears to the right of the “dot” in most web addresses. (For instance, in FOXBusiness.com, the gTLD is “.com”.)</p>
<p>Right now, there are 22 gTLDs in use, many of which are familiar to consumers (i.e. – “.com,” “.org,” “.net”). In the not-so-distant future, <a href="http://newgtlds.icann.org/applicants/customer-service/faqs/faqs-en" type="external">almost any assemblage of letters Opens a New Window.</a> could represent a new domain – from “.shoe” to “.apple” to “.yourfirstandlastname.”</p>
<p>The organization responsible for approving these new domains is the Internet Corporation for Assigned Names and Numbers (ICANN). ICANN, which manages the domain-name space by way of a contract with the <a href="" type="internal">Commerce Department</a>, expects that the first batch of new domains will go into use sometime in early 2013. It is not yet clear how many will be approved, though estimates range anywhere from 400 to 1,000. The fee to apply for one new domain is $185,000.</p>
<p>The new gTLD plan represents a big shift in the web world, and one that has been met with harsh criticism. While ICANN says that lifting the lid on gTLDs will encourage innovation and build brand strength, <a href="http://www.ana.net/content/show/id/crido" type="external">an alphabet soup of trade associations Opens a New Window.</a> claim the move places <a href="http://www.restaurant.org/pdfs/advocacy/20111208_icann_senate_hearing_nra_statement.pdf" type="external">unnecessary cost burdens on businesses and will confuse consumers Opens a New Window.</a>.</p>
<p>If ICANN’s plan moves ahead in its current form, here are three things every web user should probably keep in mind.</p>
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<p>1. It could become harder to tell which sites are legitimate and which are not.</p>
<p>One of the biggest complaints businesses have with ICANN’s plan is that it will open the door to more fraud, counterfeiting and cybersquatting.</p>
<p>As it is, scammers have mastered the art of registering web addresses that sound like authentic sites, but they only have 22 domain extensions in which they can operate. When the new gTLDs go live, brand owners say fraudsters will have the chance to register sites on hundreds or even thousands of new domains.</p>
<p>“Instead of ‘coach.shoe,’ they’re going to be registering ‘cooach.shoe,’” said Alan Drewsen, executive director at the <a href="http://www.inta.org/Pages/Home.aspx" type="external">International Trademark Association Opens a New Window.</a> (INTA). “The risk of counterfeiting is going to increase… and it’s already a serious problem in the gTLDs we have.”</p>
<p>Just to be clear, the concern isn’t really that scammers will be applying for and operating gTLDs (not when the application fee alone is $185,000!) but that they will register misleading sites on new gTLDs. That’s the thing about owning a gTLD: once you own it, you’re essentially operating a registry. If you own the domain “.jewelry”, for instance, you can decide that only your company will use it, or you can decide to sell domain-name registrations to whomever wants their web address to end in “.jewelry.”</p>
<p>The fact that consumers will be generally unfamiliar with new web suffixes will likely compound the confusion over site credibility.</p>
<p>“A company like Gap is going to have to buy ‘gap.retail’ and ‘gap.store’, and ‘gap.sfo’ just to make sure that their customers aren’t scammed,” says Mallory Duncan, senior vice president and general counsel at the <a href="http://www.nrf.com/" type="external">National Retail Federation Opens a New Window.</a>. “If they don’t do that, they run the risk of getting ill will from customers who don’t realize ‘gap.nyc’ may not be owned by the Gap.”</p>
<p>Drewsen at the INTA says the best way for customers to avoid visiting a shady site is to avoid typing web addresses directly into the address bar and instead use a search engine. While it’s not yet clear how <a href="" type="internal">Google</a> or any other search engine will rank new gTLDs, the assumption is that a search engine will bring you the most credible results first.</p>
<p>2. You probably don’t have to worry about a company abandoning its current web address.</p>
<p>Large companies may choose to own several new gTLDs, but that doesn’t mean their “.com” sites will go away. In fact, there’s a very good chance that until companies know how exactly they want to use their new gTLDs, most of the new sites they build will be redirected to their “.com” anyway.</p>
<p>“We know that it would be imprudent to move content from ‘ <a href="" type="internal">eBay</a>.com’ to ‘.eBay’,” says Josh Bourne, managing partner at <a href="http://www.fairwindspartners.com/" type="external">FairWinds Partners Opens a New Window.</a>, an Internet strategy consulting firm. “Even for companies that own a ‘.brand’, they will still maintain their sites.”</p>
<p>So what’s the incentive to buy gTLDs, especially for businesses with no clear plan on how they’ll use them or what the ultimate value may be? Bourne says that businesses may not necessarily want them, but they don’t want their competitors to have them either.</p>
<p>“Companies are saying ‘do we really want to be in a situation where somebody else gets to extract some hypothetical benefit? What if they’re right and we’re wrong?’” he says.</p>
<p>Still, it’s important to note that not every company will choose to invest in new gTLDs – in fact, it’s possible that many won’t. Drewsen at the INTA points out that major companies don’t always buy up the “.net” or “.biz” versions of their sites today.</p>
<p>3. You’re going to see companies do some pretty cool things to engage you.</p>
<p>From a marketing perspective, ICANN’s plan allows companies to engage customers in new and interesting ways. Bourne at FairWinds Partners says a company like J.Crew could decide to offer their best customers a personalized secondary domain name (think “JaneDoe.jcrew.com”) that would look like the main J.Crew site, but be configured to reflect a customer’s size, color and style preferences. The overall effect would be to create a “customized shopping hub.”</p>
<p>“J.Crew could give.JCREW domain owners exclusive access to new collections or sales before making them available to the general public. It could store customers’ tailoring history, making it possible to get a pair of pants or a skirt hemmed to just the right length with the click of a button,” he wrote in an <a href="http://www.gtldstrategy.com/marketing-strategies/yourname-here" type="external">August 2011 blog post Opens a New Window.</a>.</p>
<p>Bourne acknowledged that he has spoken with several large companies that are interested in pursuing this sort of experience.</p>
<p>Jeff Ernst, an analyst at <a href="" type="internal">Forrester Research</a>, <a href="http://www.forbes.com/2011/06/21/new-web-domains.html" type="external">offered similar possibilities in a post he wrote for Forbes Opens a New Window.</a> in June, explaining that <a href="" type="internal">Nike</a> could create “a community of running fanatics” by buying up a gTLD like “.run” and offering people email addresses and personalized secondary domains through which they can track their mileage and pace. Ernst also says a company like networking-giant Cisco could allow its distributors to register under the “.cisco” domain, making it easier for customers to determine whether or not a distributor is Cisco certified.</p> | true | 0 | may know yet dotcom world become dotanything world likely impact way use web continue reading starting jan 12 nonprofit organization governs internet domain names opens new window begin accepting applications almost infinite variety generic toplevel domains gtlds youre thinking gtld must something situation opens new window know actually term used describe appears right dot web addresses instance foxbusinesscom gtld com right 22 gtlds use many familiar consumers ie com org net notsodistant future almost assemblage letters opens new window could represent new domain shoe apple yourfirstandlastname organization responsible approving new domains internet corporation assigned names numbers icann icann manages domainname space way contract commerce department expects first batch new domains go use sometime early 2013 yet clear many approved though estimates range anywhere 400 1000 fee apply one new domain 185000 new gtld plan represents big shift web world one met harsh criticism icann says lifting lid gtlds encourage innovation build brand strength alphabet soup trade associations opens new window claim move places unnecessary cost burdens businesses confuse consumers opens new window icanns plan moves ahead current form three things every web user probably keep mind advertisement 1 could become harder tell sites legitimate one biggest complaints businesses icanns plan open door fraud counterfeiting cybersquatting scammers mastered art registering web addresses sound like authentic sites 22 domain extensions operate new gtlds go live brand owners say fraudsters chance register sites hundreds even thousands new domains instead coachshoe theyre going registering cooachshoe said alan drewsen executive director international trademark association opens new window inta risk counterfeiting going increase already serious problem gtlds clear concern isnt really scammers applying operating gtlds application fee alone 185000 register misleading sites new gtlds thats thing owning gtld youre essentially operating registry domain jewelry instance decide company use decide sell domainname registrations whomever wants web address end jewelry fact consumers generally unfamiliar new web suffixes likely compound confusion site credibility company like gap going buy gapretail gapstore gapsfo make sure customers arent scammed says mallory duncan senior vice president general counsel national retail federation opens new window dont run risk getting ill customers dont realize gapnyc may owned gap drewsen inta says best way customers avoid visiting shady site avoid typing web addresses directly address bar instead use search engine yet clear google search engine rank new gtlds assumption search engine bring credible results first 2 probably dont worry company abandoning current web address large companies may choose several new gtlds doesnt mean com sites go away fact theres good chance companies know exactly want use new gtlds new sites build redirected com anyway know would imprudent move content ebaycom ebay says josh bourne managing partner fairwinds partners opens new window internet strategy consulting firm even companies brand still maintain sites whats incentive buy gtlds especially businesses clear plan theyll use ultimate value may bourne says businesses may necessarily want dont want competitors either companies saying really want situation somebody else gets extract hypothetical benefit theyre right wrong says still important note every company choose invest new gtlds fact possible many wont drewsen inta points major companies dont always buy net biz versions sites today 3 youre going see companies pretty cool things engage marketing perspective icanns plan allows companies engage customers new interesting ways bourne fairwinds partners says company like jcrew could decide offer best customers personalized secondary domain name think janedoejcrewcom would look like main jcrew site configured reflect customers size color style preferences overall effect would create customized shopping hub jcrew could givejcrew domain owners exclusive access new collections sales making available general public could store customers tailoring history making possible get pair pants skirt hemmed right length click button wrote august 2011 blog post opens new window bourne acknowledged spoken several large companies interested pursuing sort experience jeff ernst analyst forrester research offered similar possibilities post wrote forbes opens new window june explaining nike could create community running fanatics buying gtld like run offering people email addresses personalized secondary domains track mileage pace ernst also says company like networkinggiant cisco could allow distributors register cisco domain making easier customers determine whether distributor cisco certified | 682 |
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<p>Image source: Getty Images.</p>
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<p>Up until its most recently reported quarter, Skechers (NYSE: SKX) had been delivering phenomenal top line growth ranging from 18% to 32% over the past several years.In the second quarter, revenue increased a disappointing 9.6% over last year, the company's slowest pace in quite some time.Revenue growth typically starts to slow as a company grows in size, but Skechers is focused on three key areas to continue delivering those double-digit gains.</p>
<p>Skechers has worked hard to build its brand image and carve out a niche in the competitive footwear market. It used to be considered more of a knock-off brand, but the company has developed its own performance lines and unique products that can compete with the biggest competitors, includingNike, Adidas, and Under Armour. Last year, Skechers had 5% market share in the United States footwear market and surpassed Adidas to become the No. 2 brand (Nike continued to dominate with 62% market share).</p>
<p>During the second quarter conference call, CFO and COO David Weinberg said, "Our goal is to continue to develop innovative footwear and remain top of mind and drive purchase intent globally through a 360-degree approach to marketing."Ongoing marketing campaigns will allow the brand to reach new customers and promote its growing product assortment.</p>
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<p>Skechers relies heavily on television and print advertising to promote its products, as well as a diverse group of brand ambassadors, including award-winning musicians Demi Lovato and Meghan Trainor, model and TV personality Brooke Burke-Charvet, and athletes like Sugar Ray Leonard and Howie Long.Several of its ambassadors competed this summer at the Rio Olympics in Skechers performance gear, including marathon runner Meb Keflezighi and golfer Matt Kuchar.</p>
<p>Besides marketing, Skechers continues to expand its retail footprint by opening new stores domestically and internationally with three store formats: concept, factory outlet, and warehouse outlets. Concept stores go in high-traffic street locations, major tourist areas, and key shopping malls in metropolitan cities, playing an important role in Skechers' operating strategy.</p>
<p>First, the concept stores showcase the brand's entire product line. This is important since Skechers estimates its average wholesale customer carries no more than 5% of the complete Skechers line at any one location. Second, the locations are strategically chosen to maximize exposure to consumers -- think areas like Times Square, the Grand Canal Shoppes at The Venetian, Powell Street in San Francisco, and the recently opened One World Trade Center mall. Finally, the company uses its concept stores as marketing and product testing venues. Factory and warehouse outlet stores play another role in the supply chain -- moving discontinued and excess merchandise at higher margins than selling to discounters at excessively low prices.</p>
<p>Skechers opened 143 stores in the second quarter, bringing its total store count to 1,548, with 1,144 of its locations located outside the United States. It expects to have more than 1,600 stores by the end of the year, made up of a combination of company-owned and international joint venture locations.The joint venture expansion strategy has helped Skechers successfully enter and expand rapidly into new markets by leveraging locals who are familiar with operating retail businesses in their respective countries. Using joint ventures can also help mitigate potential risks, especially when expanding into unproven markets.</p>
<p>The company's domestic wholesale business suffered in the second quarter, with U.S. wholesale net sales decreasing 5.4% year-over-year to $320.4 million, as a result of a significant pull forward of orders into the first quarter and a challenging promotional retail environment.Skechers lost some of its wholesale accounts in recent quarters when The Sports Authority closed, and Vestis Retail Group, the parent company of Bob's Stores and Sport Chalet, declared Chapter 11 bankruptcy. Bob's Stores will continue to operate after being sold to Versa Capital, but Sport Chalet closed all its stores last quarter and halted online sales.</p>
<p>Despite the challenging domestic wholesale environment, international wholesale net sales in the second quarter continued to deliver strong growth and increased 25.5% to $303.4 million.Wholesale continues to be a large opportunity to drive business growth for the company, and it is focused on increasing domestic and international wholesale accounts and the amount of shelf space dedicated to its products in its existing accounts. Weinberg expects domestic wholesale sales to grow in the low to mid single-digits and international wholesale as much as 30% to 40% in the back half of the year.</p>
<p>Investors will be keeping an eye on revenue growth in the third quarter when the company usually sees a significant sales boost thanks to back-to-school shopping. Once Skechers reports third quarter earnings, investors will have a better idea if these three strategies are paying off, and whether or not last quarter's single-digit revenue growth was just an anomaly or the new standard.</p>
<p>A secret billion-dollar stock opportunity The world's biggest tech company forgot to show you something, but a few Wall Street analysts and the Fool didn't miss a beat: There's a small company that's powering their brand-new gadgets and the coming revolution in technology. And we think its stock price has nearly unlimited room to run for early in-the-know investors! To be one of them, <a href="http://www.fool.com/mms/mark/ecap-foolcom-apple-wearable?aid=6965&amp;source=irbeditxt0000017&amp;ftm_cam=rb-wearable-d&amp;ftm_pit=2667&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">just click here Opens a New Window.</a>.</p>
<p><a href="http://my.fool.com/profile/XMFShazam/info.aspx" type="external">Ben Estep Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Nike, Skechers, and Under Armour (A Shares). Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source getty images continue reading recently reported quarter skechers nyse skx delivering phenomenal top line growth ranging 18 32 past several yearsin second quarter revenue increased disappointing 96 last year companys slowest pace quite timerevenue growth typically starts slow company grows size skechers focused three key areas continue delivering doubledigit gains skechers worked hard build brand image carve niche competitive footwear market used considered knockoff brand company developed performance lines unique products compete biggest competitors includingnike adidas armour last year skechers 5 market share united states footwear market surpassed adidas become 2 brand nike continued dominate 62 market share second quarter conference call cfo coo david weinberg said goal continue develop innovative footwear remain top mind drive purchase intent globally 360degree approach marketingongoing marketing campaigns allow brand reach new customers promote growing product assortment advertisement skechers relies heavily television print advertising promote products well diverse group brand ambassadors including awardwinning musicians demi lovato meghan trainor model tv personality brooke burkecharvet athletes like sugar ray leonard howie longseveral ambassadors competed summer rio olympics skechers performance gear including marathon runner meb keflezighi golfer matt kuchar besides marketing skechers continues expand retail footprint opening new stores domestically internationally three store formats concept factory outlet warehouse outlets concept stores go hightraffic street locations major tourist areas key shopping malls metropolitan cities playing important role skechers operating strategy first concept stores showcase brands entire product line important since skechers estimates average wholesale customer carries 5 complete skechers line one location second locations strategically chosen maximize exposure consumers think areas like times square grand canal shoppes venetian powell street san francisco recently opened one world trade center mall finally company uses concept stores marketing product testing venues factory warehouse outlet stores play another role supply chain moving discontinued excess merchandise higher margins selling discounters excessively low prices skechers opened 143 stores second quarter bringing total store count 1548 1144 locations located outside united states expects 1600 stores end year made combination companyowned international joint venture locationsthe joint venture expansion strategy helped skechers successfully enter expand rapidly new markets leveraging locals familiar operating retail businesses respective countries using joint ventures also help mitigate potential risks especially expanding unproven markets companys domestic wholesale business suffered second quarter us wholesale net sales decreasing 54 yearoveryear 3204 million result significant pull forward orders first quarter challenging promotional retail environmentskechers lost wholesale accounts recent quarters sports authority closed vestis retail group parent company bobs stores sport chalet declared chapter 11 bankruptcy bobs stores continue operate sold versa capital sport chalet closed stores last quarter halted online sales despite challenging domestic wholesale environment international wholesale net sales second quarter continued deliver strong growth increased 255 3034 millionwholesale continues large opportunity drive business growth company focused increasing domestic international wholesale accounts amount shelf space dedicated products existing accounts weinberg expects domestic wholesale sales grow low mid singledigits international wholesale much 30 40 back half year investors keeping eye revenue growth third quarter company usually sees significant sales boost thanks backtoschool shopping skechers reports third quarter earnings investors better idea three strategies paying whether last quarters singledigit revenue growth anomaly new standard secret billiondollar stock opportunity worlds biggest tech company forgot show something wall street analysts fool didnt miss beat theres small company thats powering brandnew gadgets coming revolution technology think stock price nearly unlimited room run early intheknow investors one click opens new window ben estep opens new window position stocks mentioned motley fool owns shares recommends nike skechers armour shares try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 612 |
<p>Millions of immigrants benefiting from President Barack Obama's executive actions could get a windfall from the IRS, a reversal of fortune after years of paying taxes to help fund government programs they were banned from receiving.</p>
<p>Armed with new Social Security numbers, many of these immigrants who were living in the U.S. illegally will now be able to claim up to four years' worth of tax credits designed to benefit the working poor. For big families, that's a maximum of nearly $24,000, as long as they can document their earnings during those years.</p>
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<p>Some Republicans are labeling the payments "amnesty bonuses," one more reason they oppose Obama's program shielding millions of immigrants from deportation.</p>
<p>"I represent hard working, law-biding Texans," said Rep. Sam Johnson, a senior Republican on the House Ways and Means Committee. "I think these amnesty rewards, and that's what they are, need to be stopped."</p>
<p>Advocates argue that many of these immigrants pay taxes, so they should be able to claim the same tax credits as anybody else. Over the past decade, immigrants in the U.S. illegally have paid an estimated $100 billion in Social Security payroll taxes, even though few will ever be able to collect benefits, said Stephen Goss, Social Security's chief actuary.</p>
<p>Obama has issued executive orders shielding about 4 million immigrants from deportation. Some were brought to the U.S. as children; others are parents of children who are either U.S. citizens or legal residents.</p>
<p>Republicans in Congress oppose Obama's actions and are trying to use a funding bill for the Department of Homeland Security to overturn them. Democrats are resisting, resulting in a stalemate that is threatening to shut down the department.</p>
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<p>Funding for the department, which oversees immigration enforcement, runs out Feb. 27.</p>
<p>The dispute over tax credits illustrates the complicated relationship that many immigrants have with the U.S. tax system. Social Security estimates that immigrants living in the country illegally work at about the same rate as the rest of the population, even though federal law bars them from employment.</p>
<p>In general, they are less likely to pay federal taxes. Those who do have been boosting Social Security's finances for years.</p>
<p>There are an estimated 11 million to 12 million immigrants in the U.S. illegally. At least half are paying income and payroll taxes, even though few have valid Social Security numbers, according to the nonpartisan Congressional Budget Office.</p>
<p>By law, you must have a Social Security number to work in the U.S. But millions of people work without them.</p>
<p>Some work in the underground economy and do not report their income to the government. For those who work and pay taxes, the IRS provides them with an Individual Taxpayer Identification Number (ITIN).</p>
<p>Since 1996, the IRS has issued 21 million of these numbers. About one-quarter of them are still in use, the agency says.</p>
<p>The IRS accepts these tax returns without reporting the taxpayers to immigration authorities, IRS Commissioner John Koskinen said. That encourages the workers to pay taxes.</p>
<p>"We don't enforce the Social Security laws, we don't enforce the immigration laws," Koskinen said of his agency. "In fact, the reason illegal immigrants file taxes with us is they know we aren't sharing that data with anybody. We treat it as taxpayer-protected information."</p>
<p>Even if these immigrants pay taxes, they are ineligible for most federal programs. They cannot legally get food stamps, unemployment benefits, Pell grants or federal student loans. They cannot get Medicaid, except for emergency medical services, and are ineligible for subsidies under Obama's health law.</p>
<p>They can claim some federal tax breaks, if they file tax returns.</p>
<p>But until now, they were not eligible for Social Security, Medicare or the Earned Income Tax Credit (EITC), one of the government's largest anti-poverty programs.</p>
<p>Obama's executive actions will offer Social Security numbers to these immigrants, something that eventually could make them eligible for Social Security and Medicare. For Social Security, you generally have to work and pay payroll taxes for 10 years before you qualify for retirement benefits.</p>
<p>More immediately, they can take advantage of the EITC. Last year, the credit provided low-income workers with about $70 billion.</p>
<p>This credit is popular among conservatives because it rewards work - the more you work, the bigger your credit, as long as your income does not exceed certain limits. It is popular among liberals because it provides cash payments to low-wage workers, even if they do not make enough money to pay federal income tax.</p>
<p>It is, however, a complicated program to administer that generates a significant amount of improper payments, according to the IRS's own estimates.</p>
<p>Once the immigrants in Obama's program get Social Security numbers, they can file tax returns claiming the EITC, as long as they meet the income requirements and can document their earnings.</p>
<p>There's more.</p>
<p>They also can file amended tax returns for up to three years after they were due, which means these immigrants can claim tax credits going back as far as 2011. (Tax returns for 2011 were due in April 2012).</p>
<p>The maximum credit for families with three or more children is about $6,000, so some families could get as much as $24,000 in credits.</p>
<p>Koskinen said these tax returns would be processed just like any other.</p>
<p>"You have to do the same thing any taxpayer would do, which is you're going to file a return, say this is what I earned, these are my expenses, deductions, whatever it might be," Koskinen said. "You have to have the supporting documentation."</p>
<p>Some in Congress are outraged.</p>
<p>"The administration may have blown open the doors for fraud with amnesty bonuses of more than $24,000 to those who receive deferred action," said Sen. Ben Sasse, R-Neb. "This program severely undermines the White House's lip-service to enforcing the law and would increase the burden on law-abiding taxpayers."</p>
<p>Advocates for immigrants say that if these workers are paying taxes, they should get the same benefits as other taxpayers.</p>
<p>"Let's not forget that these workers receive the lowest wages for what they contribute to their communities and local economies," said Ellen Sittenfeld Battistelli, policy analyst at the National Immigration Law Center. "What do we as a nation gain by further impoverishing them?"</p>
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<p>Follow Stephen Ohlemacher on Twitter: http://twitter.com/stephenatap</p> | true | 0 | millions immigrants benefiting president barack obamas executive actions could get windfall irs reversal fortune years paying taxes help fund government programs banned receiving armed new social security numbers many immigrants living us illegally able claim four years worth tax credits designed benefit working poor big families thats maximum nearly 24000 long document earnings years continue reading republicans labeling payments amnesty bonuses one reason oppose obamas program shielding millions immigrants deportation represent hard working lawbiding texans said rep sam johnson senior republican house ways means committee think amnesty rewards thats need stopped advocates argue many immigrants pay taxes able claim tax credits anybody else past decade immigrants us illegally paid estimated 100 billion social security payroll taxes even though ever able collect benefits said stephen goss social securitys chief actuary obama issued executive orders shielding 4 million immigrants deportation brought us children others parents children either us citizens legal residents republicans congress oppose obamas actions trying use funding bill department homeland security overturn democrats resisting resulting stalemate threatening shut department advertisement funding department oversees immigration enforcement runs feb 27 dispute tax credits illustrates complicated relationship many immigrants us tax system social security estimates immigrants living country illegally work rate rest population even though federal law bars employment general less likely pay federal taxes boosting social securitys finances years estimated 11 million 12 million immigrants us illegally least half paying income payroll taxes even though valid social security numbers according nonpartisan congressional budget office law must social security number work us millions people work without work underground economy report income government work pay taxes irs provides individual taxpayer identification number itin since 1996 irs issued 21 million numbers onequarter still use agency says irs accepts tax returns without reporting taxpayers immigration authorities irs commissioner john koskinen said encourages workers pay taxes dont enforce social security laws dont enforce immigration laws koskinen said agency fact reason illegal immigrants file taxes us know arent sharing data anybody treat taxpayerprotected information even immigrants pay taxes ineligible federal programs legally get food stamps unemployment benefits pell grants federal student loans get medicaid except emergency medical services ineligible subsidies obamas health law claim federal tax breaks file tax returns eligible social security medicare earned income tax credit eitc one governments largest antipoverty programs obamas executive actions offer social security numbers immigrants something eventually could make eligible social security medicare social security generally work pay payroll taxes 10 years qualify retirement benefits immediately take advantage eitc last year credit provided lowincome workers 70 billion credit popular among conservatives rewards work work bigger credit long income exceed certain limits popular among liberals provides cash payments lowwage workers even make enough money pay federal income tax however complicated program administer generates significant amount improper payments according irss estimates immigrants obamas program get social security numbers file tax returns claiming eitc long meet income requirements document earnings theres also file amended tax returns three years due means immigrants claim tax credits going back far 2011 tax returns 2011 due april 2012 maximum credit families three children 6000 families could get much 24000 credits koskinen said tax returns would processed like thing taxpayer would youre going file return say earned expenses deductions whatever might koskinen said supporting documentation congress outraged administration may blown open doors fraud amnesty bonuses 24000 receive deferred action said sen ben sasse rneb program severely undermines white houses lipservice enforcing law would increase burden lawabiding taxpayers advocates immigrants say workers paying taxes get benefits taxpayers lets forget workers receive lowest wages contribute communities local economies said ellen sittenfeld battistelli policy analyst national immigration law center nation gain impoverishing ___ follow stephen ohlemacher twitter httptwittercomstephenatap | 606 |
<p>Stocks delivered again in 2014.</p>
<p>Even after a poor start in January and wobbles in October and December, the U.S. market has climbed 13 percent and is ending the year close to record levels. The solid gain has pushed the bull run for stocks into its sixth year, the longest such streak since the 1990s.</p>
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<p>Investors have been encouraged by rising corporate earnings and a strengthening U.S. economy, which helped stocks overcome a brief winter chill in growth and tensions with Russia. The stock market also overcame worries about the impact of the end of the Federal Reserve's stimulus program.</p>
<p>Those who stuck out the market's ups and downs were rewarded with double-digit returns for the fifth year out of the last six.</p>
<p>"Companies delivered and the ability to produce on the bottom line remained resilient," said Jeff Kleintop, Charles Schwab's chief global investment strategist. "Ultimately, that's what stocks track."</p>
<p>All the major stock averages are ending the year with respectable returns. The Standard &amp; Poor's 500 index has returned 14 percent including dividends, after a return of 32 percent in 2013. The Dow Jones industrial average has returned 11 percent.</p>
<p>The stock market also experienced its biggest bout of volatility in more than two years. Stocks plunged as much as 9.8 percent in October on concerns about global growth and worries about the spread of the Ebola virus. The market also managed to climb despite a big drop in oil prices that hit energy companies. Geopolitical tensions flared as Russia seized Crimea, war broke out in eastern Ukraine and the Islamic State group seized swaths of territory in Iraq and Syria.</p>
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<p>These were some of the biggest themes in the financial markets in 2014:</p>
<p>A RESILIENT ECONOMY</p>
<p>The backdrop for the stock market's gains was a gradually strengthening U.S. economy. Hiring and consumer confidence continued to improve.</p>
<p>Despite a big contraction in the first quarter caused by an unusually harsh winter, the economy continued to grow. The average pace of growth climbed to 2.7 percent by the end of the year, up from 2.3 percent a year earlier.</p>
<p>DON'T COUNT OUT BONDS</p>
<p>A widely forecast demise for bonds failed to materialize.</p>
<p>Bonds had been expected to slump as the Fed neared the end of its bond-buying stimulus program and growth accelerated. Instead, they rallied as investors became more pessimistic on the outlook for global growth as economies overseas weakened.</p>
<p>Bonds also gained because they looked attractive to overseas investors. Their yields, while close to historically low levels, are still higher than in countries like Germany and Japan.</p>
<p>The yield on the 10-year Treasury note is ending the year at 2.18 percent, after starting 2014 at 3 percent. The Barclays Aggregate Index, which measures the performance of a broad range of bonds, returned 5.9 percent, its best year in three.</p>
<p>STILL LOOKING FOR INCOME</p>
<p>The biggest beneficiaries of lower bond yields were companies that pay rich dividends as investors looked to them as an alternative source of income.</p>
<p>"Investors still want bond-like returns," said Krishna Memani, chief investment officer of OppenheimerFunds. So "the more bond-like parts of the equity market have done quite well."</p>
<p>Those sectors included utilities and real estate investment trusts. The utilities sector is ending the year with a gain of 26 percent, the best performance of the 10 sectors that make up the S&amp;P 500 index.</p>
<p>Utility companies in the index have an average dividend yield of 3.3 percent. U.S. REITs pay about 3.6 percent.</p>
<p>DEAL REVIVAL</p>
<p>It was also a good year for deal-making. The value of global mergers and acquisitions rose to the highest point since 2007, while the number of initial public offerings was the highest since the technology bubble days of 2000.</p>
<p>Among the notable tie-ups announced were Actavis' agreement to buy fellow drugmaker Allergan for $66 billion in November, and Comcast's deal to buy Time Warner Cable for $45.2 billion in February.</p>
<p>In IPOs, China's e-commerce giant Alibaba raised $25 billion in its stock market debut in September, making it the biggest U.S.-listed IPO in history. Strong demand for the stock sent the market value of the company beyond that of Amazon, eBay and Facebook.</p>
<p>KEEP THE GROWTH COMING</p>
<p>U.S. companies, benefiting from low interest rates and a gradually improving economy, have become adept at driving their profits higher since the recession. Those rising earnings are underpinning the rally in stocks.</p>
<p>Earnings at S&amp;P 500 companies are projected to reach a record of $116.97 per share for 2014, an increase of almost 8 percent from a year earlier, according to S&amp;P Capital IQ.</p>
<p>"If you look at the cash flow and profitability of companies today, especially in the U.S., it is just darn impressive," said Seth Masters, chief investment officer for Bernstein Global Wealth Management.</p>
<p>CHEAP OIL ISN'T ALL GOOD NEWS</p>
<p>Fears of weak growth overseas and worries of a supply glut combined to push oil down 50 percent in six months. After trading at a peak of $107 a barrel in June, oil is ending the year near $53.</p>
<p>Falling oil prices lead to lower gas prices, which is a good thing for consumers. But there are also losers when crude slumps. Energy stocks, which account for about 10 percent of company earnings in the S&amp;P 500 index, plunged.</p>
<p>As the losses in oil accelerated this fall, investors also worried about the wider implications. If prices stay low, some producers could go out of business, costing workers their jobs and prompting defaults in the bond market.</p>
<p>The fall in oil also created the year's biggest winners and losers.</p>
<p>Transocean, a provider of offshore drilling services to the energy industry, was the year's biggest loser among S&amp;P 500 stocks as demand for its services was expected to fall. The stock price has slumped 63 percent.</p>
<p>Airlines, which are heavy users of fuel, were big beneficiaries of the slump. Southwest Airlines' stock has climbed 128 percent, the biggest gain in the S&amp;P 500.</p>
<p>CENTRAL BANKS GO IN OPPOSITE DIRECTIONS</p>
<p>The Fed ended its bond purchases in October and is inching closer to its first rate increase since 2006. At the same time, other central banks around the world started to introduce more stimulus as growth in their regions slowed.</p>
<p>The Bank of Japan stepped up its efforts to revive that country's economy, as did the European Central Bank. China also lowered a key interest rate.</p>
<p>Investors debated whether the U.S. will pull the rest of the world up, or be dragged down by it.</p>
<p>STOCKS AREN'T CHEAP ANYMORE</p>
<p>After big gains in recent years, stocks are no longer a bargain. At the same time, they haven't yet reached vertiginous levels that would keep investors up at night.</p>
<p>The average price-earnings ratio for S&amp;P 500 companies, which measures the price of a stock against the company's expected earnings over the next 12 months, climbed to 16.5, from 15.3 at the start of the year. That's above the 10-year average of about 15, according to FactSet data, but still a long way off from the levels seen during the technology boom fifteen years ago, when the average ratio was as a high as 27.</p>
<p>The slight rise in valuations suggests that investors have moved from being skeptical to being "pragmatically optimistic," said Anastasia Amoroso, global market strategist for J.P. Morgan Funds.</p> | true | 0 | stocks delivered 2014 even poor start january wobbles october december us market climbed 13 percent ending year close record levels solid gain pushed bull run stocks sixth year longest streak since 1990s continue reading investors encouraged rising corporate earnings strengthening us economy helped stocks overcome brief winter chill growth tensions russia stock market also overcame worries impact end federal reserves stimulus program stuck markets ups downs rewarded doubledigit returns fifth year last six companies delivered ability produce bottom line remained resilient said jeff kleintop charles schwabs chief global investment strategist ultimately thats stocks track major stock averages ending year respectable returns standard amp poors 500 index returned 14 percent including dividends return 32 percent 2013 dow jones industrial average returned 11 percent stock market also experienced biggest bout volatility two years stocks plunged much 98 percent october concerns global growth worries spread ebola virus market also managed climb despite big drop oil prices hit energy companies geopolitical tensions flared russia seized crimea war broke eastern ukraine islamic state group seized swaths territory iraq syria advertisement biggest themes financial markets 2014 resilient economy backdrop stock markets gains gradually strengthening us economy hiring consumer confidence continued improve despite big contraction first quarter caused unusually harsh winter economy continued grow average pace growth climbed 27 percent end year 23 percent year earlier dont count bonds widely forecast demise bonds failed materialize bonds expected slump fed neared end bondbuying stimulus program growth accelerated instead rallied investors became pessimistic outlook global growth economies overseas weakened bonds also gained looked attractive overseas investors yields close historically low levels still higher countries like germany japan yield 10year treasury note ending year 218 percent starting 2014 3 percent barclays aggregate index measures performance broad range bonds returned 59 percent best year three still looking income biggest beneficiaries lower bond yields companies pay rich dividends investors looked alternative source income investors still want bondlike returns said krishna memani chief investment officer oppenheimerfunds bondlike parts equity market done quite well sectors included utilities real estate investment trusts utilities sector ending year gain 26 percent best performance 10 sectors make sampp 500 index utility companies index average dividend yield 33 percent us reits pay 36 percent deal revival also good year dealmaking value global mergers acquisitions rose highest point since 2007 number initial public offerings highest since technology bubble days 2000 among notable tieups announced actavis agreement buy fellow drugmaker allergan 66 billion november comcasts deal buy time warner cable 452 billion february ipos chinas ecommerce giant alibaba raised 25 billion stock market debut september making biggest uslisted ipo history strong demand stock sent market value company beyond amazon ebay facebook keep growth coming us companies benefiting low interest rates gradually improving economy become adept driving profits higher since recession rising earnings underpinning rally stocks earnings sampp 500 companies projected reach record 11697 per share 2014 increase almost 8 percent year earlier according sampp capital iq look cash flow profitability companies today especially us darn impressive said seth masters chief investment officer bernstein global wealth management cheap oil isnt good news fears weak growth overseas worries supply glut combined push oil 50 percent six months trading peak 107 barrel june oil ending year near 53 falling oil prices lead lower gas prices good thing consumers also losers crude slumps energy stocks account 10 percent company earnings sampp 500 index plunged losses oil accelerated fall investors also worried wider implications prices stay low producers could go business costing workers jobs prompting defaults bond market fall oil also created years biggest winners losers transocean provider offshore drilling services energy industry years biggest loser among sampp 500 stocks demand services expected fall stock price slumped 63 percent airlines heavy users fuel big beneficiaries slump southwest airlines stock climbed 128 percent biggest gain sampp 500 central banks go opposite directions fed ended bond purchases october inching closer first rate increase since 2006 time central banks around world started introduce stimulus growth regions slowed bank japan stepped efforts revive countrys economy european central bank china also lowered key interest rate investors debated whether us pull rest world dragged stocks arent cheap anymore big gains recent years stocks longer bargain time havent yet reached vertiginous levels would keep investors night average priceearnings ratio sampp 500 companies measures price stock companys expected earnings next 12 months climbed 165 153 start year thats 10year average 15 according factset data still long way levels seen technology boom fifteen years ago average ratio high 27 slight rise valuations suggests investors moved skeptical pragmatically optimistic said anastasia amoroso global market strategist jp morgan funds | 762 |
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<p>Investigators looking into the disappearance of customer funds during the implosion of <a href="" type="internal">MF Global</a> last month are coming to the conclusion that the money is likely gone for good, sources with direct knowledge of the matter tell the FOX Business Network.</p>
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<p>What they don’t know is just how much money is missing.</p>
<p>That is likely to change as early as Friday, when bankruptcy trustee James Giddens provides an updated tally on the missing money, one of the focal points of civil and criminal investigations into the firm’s bankruptcy and a likely topic of conversation when the first of three Congressional hearings takes place this week.</p>
<p>The House Agriculture Committee on Thursday is scheduled to hear testimony from several witnesses, including MF Global’s former chief executive, <a href="" type="internal">Jon Corzine</a>, regarding the brokerage’s demise. It was Corzine who changed MF Global’s business model from a plain-vanilla brokerage firm of commodities to a risk-taking outfit not unlike a hedge fund that ultimately led to its sudden downfall last month.</p>
<p><a href="" type="internal">Read: Five questions lawmakers should grill Corzine on during testimony</a></p>
<p>Amid the firm’s implosion, as much as $1.2 billion of customer money remains missing; if executives of the firm purposely co-mingled customer cash with those used to run MF Global’s operations, that could lead to criminal fraud charges.</p>
<p>As of Monday, staffers for the House Agriculture Committee said Corzine’s attorneys had given no indication of whether Corzine will answer questions from the committee or remain silent by exercising his Fifth Amendment right against self-incrimination. Tamara Hinton, a spokeswoman for the Agriculture Committee, refused to comment on whether Corzine’s attorneys have given any further indication to the committee about his testimony, and a spokesman for Corzine declined comment.</p>
<p>One source close to Corzine said he has yet to make up his mind on the matter.</p>
<p>Meanwhile, Giddens, the bankruptcy trustee for the brokerage firm, is preparing to meet a request from judge Martin Glenn, who is overseeing the case, on disclosing an update on the amount of money still missing. While the bankruptcy hearing won’t contain the same drama as Thursday’s Congressional hearing, for customers of MF Global its importance looms large.</p>
<p>Giddens has said as much as $1.2 billion is missing from customer accounts; other estimates are closer to $600 million still missing. So far, customers are expecting to recover about 65% of their funds.</p>
<p>One thing seems to be certain: Investigators and banks that have had extensive dealings with MF Global believe whatever money is missing is probably gone forever and won’t be able to be returned to investors when the investigation is complete, according to people with direct knowledge of the matter. That’s because even if customer funds are located, if they were used &#160;to pay off legitimate claims of creditors those creditors are legally entitled to the money. (An MF Global spokesperson had no immediate comment.)</p>
<p>As a result, so-called claw-back provisions that cover ill-gotten gains, such as the customer money Bernie Madoff paid to his investors during his Ponzi scheme, do not apply.</p>
<p>In addition to the House Agriculture committee, the Senate Agriculture committee and the House Financial Services subcommittee on investigations will hold hearings next week on MF Global’s demise. Just today, the Senate Agriculture committee voted to subpoena Corzine to testify; the House investigations subcommittee is expected to do the same on Wednesday.</p>
<p>The action in Washington comes as a slew of securities regulators -- including the <a href="" type="internal">Commodity Futures Trading Commission</a> as well as the US Attorney’s office for the Southern District of New York -- have launched investigations into MF Global's demise, focusing on whether executives made false statement about the firm’s financial health prior to its bankruptcy, as well as the circumstances behind the missing money.</p>
<p>MF Global, which long specialized as a broker of commodities for individuals and institutions, changed its business model with the 2010 appointment of Corzine, the former Governor of NJ, a U.S. Senator, and CEO of <a href="" type="internal">Goldman Sachs</a> (NYSE:GS). Corzine, a major financial backer of <a href="" type="internal">President Obama</a>, vowed to transform MF Global into a mini-Goldman by placing bets in various markets around the world in an effort to ramp up profits.</p>
<p>But when news of his bets on troubled European sovereign debt was disclosed, investors began pulling money out of the firm and lenders yanked lines of credit, culminating in MF Global’s Nov. 1 bankruptcy filing.</p>
<p>But the bigger problem for Corzine and MF Global wasn’t the risk taking but how the firm managed its risk; investigators believe during the firm’s tumultuous final days that executives improperly co-mingled customer money with money used to run MF Global’s operations.</p>
<p>By law, customer money is supposed to remain separate, and according to people with direct knowledge of the investigation that money is probably gone for good, raising the stakes for Corzine as the investigations swirl.</p>
<p>It’s unclear how much detail about the missing money Corzine can, or will, provide during Thursday’s hearing, though people close to him are betting that in the end he will testify, but keep his testimony to the bare minimum.</p>
<p>“It’s just too embarrassing for a former U.S. Senator and someone close to the president to take the Fifth,” said one person who knows Corzine.</p>
<p>Advertisement</p> | true | 0 | investigators looking disappearance customer funds implosion mf global last month coming conclusion money likely gone good sources direct knowledge matter tell fox business network continue reading dont know much money missing likely change early friday bankruptcy trustee james giddens provides updated tally missing money one focal points civil criminal investigations firms bankruptcy likely topic conversation first three congressional hearings takes place week house agriculture committee thursday scheduled hear testimony several witnesses including mf globals former chief executive jon corzine regarding brokerages demise corzine changed mf globals business model plainvanilla brokerage firm commodities risktaking outfit unlike hedge fund ultimately led sudden downfall last month read five questions lawmakers grill corzine testimony amid firms implosion much 12 billion customer money remains missing executives firm purposely comingled customer cash used run mf globals operations could lead criminal fraud charges monday staffers house agriculture committee said corzines attorneys given indication whether corzine answer questions committee remain silent exercising fifth amendment right selfincrimination tamara hinton spokeswoman agriculture committee refused comment whether corzines attorneys given indication committee testimony spokesman corzine declined comment one source close corzine said yet make mind matter meanwhile giddens bankruptcy trustee brokerage firm preparing meet request judge martin glenn overseeing case disclosing update amount money still missing bankruptcy hearing wont contain drama thursdays congressional hearing customers mf global importance looms large giddens said much 12 billion missing customer accounts estimates closer 600 million still missing far customers expecting recover 65 funds one thing seems certain investigators banks extensive dealings mf global believe whatever money missing probably gone forever wont able returned investors investigation complete according people direct knowledge matter thats even customer funds located used 160to pay legitimate claims creditors creditors legally entitled money mf global spokesperson immediate comment result socalled clawback provisions cover illgotten gains customer money bernie madoff paid investors ponzi scheme apply addition house agriculture committee senate agriculture committee house financial services subcommittee investigations hold hearings next week mf globals demise today senate agriculture committee voted subpoena corzine testify house investigations subcommittee expected wednesday action washington comes slew securities regulators including commodity futures trading commission well us attorneys office southern district new york launched investigations mf globals demise focusing whether executives made false statement firms financial health prior bankruptcy well circumstances behind missing money mf global long specialized broker commodities individuals institutions changed business model 2010 appointment corzine former governor nj us senator ceo goldman sachs nysegs corzine major financial backer president obama vowed transform mf global minigoldman placing bets various markets around world effort ramp profits news bets troubled european sovereign debt disclosed investors began pulling money firm lenders yanked lines credit culminating mf globals nov 1 bankruptcy filing bigger problem corzine mf global wasnt risk taking firm managed risk investigators believe firms tumultuous final days executives improperly comingled customer money money used run mf globals operations law customer money supposed remain separate according people direct knowledge investigation money probably gone good raising stakes corzine investigations swirl unclear much detail missing money corzine provide thursdays hearing though people close betting end testify keep testimony bare minimum embarrassing former us senator someone close president take fifth said one person knows corzine advertisement | 523 |
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<p>The chances of finding life outside our solar system just went up a notch.</p>
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<p>As you've no doubt heard by now, <a href="https://www.nasa.gov/press-release/nasa-telescope-reveals-largest-batch-of-earth-size-habitable-zone-planets-around/" type="external">NASA just announced Opens a New Window.</a> that its Spitzer Space Telescope (SST) has detected a heretofore unheard-of number of seemingly rocky, Earth-size exoplanets circling a star 39 light years from Earth. To date, space telescopes utilizing the "transit technique" (whereby a planet is detected when it passes in front of its sun, blocking out some of the light from said sun that reaches Earth) have identified nearly 3,500 planets lying in systems outside our own.</p>
<p>Because bigger planets block more sunlight, though, and are therefore easier to detect, the majority of exoplanets discovered so far have been gas giants unsuitable for the development of life -- or colonization. Smaller, rockier planets, lying close enough to a sun to support life, are a rarer breed. And never before has NASA found so many exoplanets so conveniently grouped all in one place for easy examination.</p>
<p>NASA just put seven "new Earths" under its microscope -- er, telescope. Image source: NASA.</p>
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<p>The seven new exoplanets circle an ultra-cool dwarf star dubbed TRAPPIST-1, located in the constellation Aquarius. From what it can observe using SST, NASA believes all seven planets are close enough to their sun that they could retain liquid water, possess atmospheres, and perhaps even support life. Three of the planets, Trappist 1e, 1f, and 1g, actually orbit within the sun's optimal "habitable zone."</p>
<p>Additionally, after racking up 500 hours of intense observation, SST data permitted NASA to calculate the density of six of the seven planets, confirming that they are most likely rocky (i.e., not uninhabitable "gas giants"). Each one could give future space colonists solid ground into which to drive stakes.</p>
<p>Little wonder, then, that NASA is calling the new collection of exoplanets "the seven wonders."</p>
<p>Of course, if colonization is the goal, mankind must first find a way to traverse the 39-light-year-long gulf between our sun and TRAPPIST-1. So how might we go about doing that?</p>
<p>Sadly, so far, no one has stumbled upon a warp drive capable of carrying colonists to the stars at faster-than-light speeds -- but space scientists are hard at work on finding the next best thing.</p>
<p>For example, two years ago, Boeing (NYSE: BA) sent its super-secret X-37B " <a href="https://www.fool.com/investing/general/2015/05/30/air-forces-secret-military-space-shuttle.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">military space shuttle Opens a New Window.</a>" into orbit carrying a payload that included a prototype "solar sail" designed by privately held Stellar Exploration, Ecliptic Enterprises, Boreal Space, and the nonprofit Planetary Society. The 344-square-foot Mylar device might one day prove the basis for a full-size solar sail that could propel spaceships across the cosmos at speeds 10 timesthat of the Space Shuttle.</p>
<p>Meanwhile, over at Orbital ATK (NYSE: OA), they're working with NASAto develop large solar panels to collect sunlight and transform it into electricity to power spaceship ion drives. Aerojet Rocketdyne (NYSE: AJRD)is also developing an ion thruster system (the Evolutionary Xenon Thruster-Commercial, or "NEXT-C") that would move spaceships three times faster than current interplanetary propulsion systems. Privately held Ad Astra has an even faster nuclear-powered ion drive system in the works (the Variable Specific Impulse Magnetoplasma Rocket, or VASIMR). And NASA itself continues to tinker with its EmDrive system, which, crazy as it sounds, seems capable of generating propulsion <a href="https://www.fool.com/investing/2016/12/04/what-is-emdrive-nasas-new-space-engine.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">without any need for any physical fuel source Opens a New Window.</a>.</p>
<p>All that said, getting from "here" to "there" across a 39-light-year distance is still going to take some time. Here's why:</p>
<p>Most everyone knows that a "light year" is the distance that a photon of light can travel in one year's time. That's not math -- that's just grammar. To put the distance from TRAPPIST-1 to Earth in context, think about it this way:</p>
<p>So don't expect to see human colonists on TRAPPIST-1 anytime soon.</p>
<p>But even if a mission to visit TRAPPIST-1 doesn't happen immediately, this week's exoplanet discovery still has implications for investors. For one thing, it makes even more urgent the need to put NASA's James Webb Space Telescope (JWST) into orbit. Utilizing JWST's 6.5-meter telescope lens to analyze refractions in TRAPPIST-1's light as it passes the planets, NASA should be able to determine whether any (or all) of them possess oxygen, ozone, hydrogen, methane, or other gases indicative of atmospheres -- life-sustaining atmospheres in particular.</p>
<p>This means more work for Lockheed Martin's (NYSE: LMT) $9.5 billion space systems division -- the company's second-most profitable division, and the one responsible for running spacecraft operationsat NASA's Jet Propulsion Laboratory, which manages the SST. Space giants Northrop Grumman (NYSE: NOC), Harris Corp (NYSE: HRS), Orbital ATK, and Ball Aerospace (NYSE: BLL) also had a hand in JWST's construction.</p>
<p>JWST is scheduled to launch next year. After that, there's the planned Transiting Exoplanet Survey Satellite (TESS), which will bring additional capabilities to bear in the search for signs of life (and once again, generate revenue for industry partnersincluding Orbital ATK, Harris, Aerojet Rocketdyne, and of course, Lockheed).</p>
<p>Long story short: The discovery of TRAPPIST-1's seven exoplanets is just the beginning. Even if we can't go there just yet, we can at least look -- and there's plenty of work to go around on that front.</p>
<p>10 stocks we like better than Lockheed MartinWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=52717204-c7c2-43e4-8483-77d55863e2cc&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Lockheed Martin wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=52717204-c7c2-43e4-8483-77d55863e2cc&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of February 6, 2017</p>
<p><a href="http://my.fool.com/profile/TMFDitty/info.aspx" type="external">Rich Smith Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool recommends Orbital ATK. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | chances finding life outside solar system went notch continue reading youve doubt heard nasa announced opens new window spitzer space telescope sst detected heretofore unheardof number seemingly rocky earthsize exoplanets circling star 39 light years earth date space telescopes utilizing transit technique whereby planet detected passes front sun blocking light said sun reaches earth identified nearly 3500 planets lying systems outside bigger planets block sunlight though therefore easier detect majority exoplanets discovered far gas giants unsuitable development life colonization smaller rockier planets lying close enough sun support life rarer breed never nasa found many exoplanets conveniently grouped one place easy examination nasa put seven new earths microscope er telescope image source nasa advertisement seven new exoplanets circle ultracool dwarf star dubbed trappist1 located constellation aquarius observe using sst nasa believes seven planets close enough sun could retain liquid water possess atmospheres perhaps even support life three planets trappist 1e 1f 1g actually orbit within suns optimal habitable zone additionally racking 500 hours intense observation sst data permitted nasa calculate density six seven planets confirming likely rocky ie uninhabitable gas giants one could give future space colonists solid ground drive stakes little wonder nasa calling new collection exoplanets seven wonders course colonization goal mankind must first find way traverse 39lightyearlong gulf sun trappist1 might go sadly far one stumbled upon warp drive capable carrying colonists stars fasterthanlight speeds space scientists hard work finding next best thing example two years ago boeing nyse ba sent supersecret x37b military space shuttle opens new window orbit carrying payload included prototype solar sail designed privately held stellar exploration ecliptic enterprises boreal space nonprofit planetary society 344squarefoot mylar device might one day prove basis fullsize solar sail could propel spaceships across cosmos speeds 10 timesthat space shuttle meanwhile orbital atk nyse oa theyre working nasato develop large solar panels collect sunlight transform electricity power spaceship ion drives aerojet rocketdyne nyse ajrdis also developing ion thruster system evolutionary xenon thrustercommercial nextc would move spaceships three times faster current interplanetary propulsion systems privately held ad astra even faster nuclearpowered ion drive system works variable specific impulse magnetoplasma rocket vasimr nasa continues tinker emdrive system crazy sounds seems capable generating propulsion without need physical fuel source opens new window said getting across 39lightyear distance still going take time heres everyone knows light year distance photon light travel one years time thats math thats grammar put distance trappist1 earth context think way dont expect see human colonists trappist1 anytime soon even mission visit trappist1 doesnt happen immediately weeks exoplanet discovery still implications investors one thing makes even urgent need put nasas james webb space telescope jwst orbit utilizing jwsts 65meter telescope lens analyze refractions trappist1s light passes planets nasa able determine whether possess oxygen ozone hydrogen methane gases indicative atmospheres lifesustaining atmospheres particular means work lockheed martins nyse lmt 95 billion space systems division companys secondmost profitable division one responsible running spacecraft operationsat nasas jet propulsion laboratory manages sst space giants northrop grumman nyse noc harris corp nyse hrs orbital atk ball aerospace nyse bll also hand jwsts construction jwst scheduled launch next year theres planned transiting exoplanet survey satellite tess bring additional capabilities bear search signs life generate revenue industry partnersincluding orbital atk harris aerojet rocketdyne course lockheed long story short discovery trappist1s seven exoplanets beginning even cant go yet least look theres plenty work go around front 10 stocks like better lockheed martinwhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right lockheed martin wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 rich smith opens new window position stocks mentioned motley fool recommends orbital atk motley fool disclosure policy opens new window | 640 |
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<p>"No greater tragedy exists in modern civilization than the aged, worn-out worker who after a life of ceaseless effort and useful productivity must look forward for his declining years to a poorhouse. A modern social consciousness demands a more humane and efficient arrangement."-- Franklin Roosevelt</p>
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<p>President Roosevelt is the one who signed Social Security into law, and it has become a critical part of Americans' retirement security ever since. Indeed, mostelderly beneficiaries get 50% or more of their income from Social Security. It's therefore rather important that we not base any of our retirement-related thoughts or actions on Social Security myths.</p>
<p>Image source: Getty Images.</p>
<p>Here are nine myths to set yourself straight about:</p>
<p>Most of us will be receiving Social Security benefits in our retirement, and for many of us, it will be rather important and much-needed income. Thus, it's critical to understand Social Security and how you might make the most of it, instead of acting on misconceptions. Here, then are 10 Social Security myths, debunked.</p>
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<p>Myth No. 1: Social Security is running out of money. The Social Security program is not all set for the foreseeable future, but the situation is not as bad as you might fear. Between taxes taken in and interest earned on them, less benefit checks written, the Social Security trust funds have been running a surplus in every year since1982. Surpluses are likely to stoparound 2019, at which point the Social Security system can rely on incoming interest payments to make up the deficit -- for a while. According to several government estimates, Social Security funds are likely to be depleted by 2034 -- if no changes are made. If that happens, payment checks won't disappear, but they'll likely shrinkby about25%, according to the Social Security Administration, leaving beneficiaries with about 75% of what they were expecting. That's not exactly good news, but 75% is far better than the 0% some people expect. Fortunately, there's a decent chance that the system will be shored up, one way or another. There are many possible fixes, though politicians don't agree on them. For example, fully 77% of the trust funds' shortfall could be eliminated by increasing the Social Security tax rate for employers and employees from its current 6.2% to 7.2% in 2022 and 8.2% in 2052.</p>
<p>Myth No. 2: The money you pay into the system is the money you receive from it later. Some people assume that when money is removed from their paycheck, it goes into an account expressly for them -- growing in value over time and provide them with income in your retirement. That's not the case, though. The taxes from all the paychecks of people currently working are pooled and then paid out to retirees collecting their benefits. So your contributions are supporting others, and when you retire your benefits will come from the earnings of those working. That has been a great system for a long time, but now people are living longer and collecting benefits for more years. Back in 1960, the contributing-workers-to-beneficiaries ratio was 5.1,with about 73 million workers supporting close to 14 million beneficiaries. As of 2013, it was just 2.8 (with 163 million workers supporting 57 million beneficiaries) -- and it's expected to hit 2.1by 2035. This is stressing the system, making eventual changes to it probable.</p>
<p>Image source: Getty Images.</p>
<p>Myth No. 3: Everyone contributes equally to Social Security. Everyone's income does face the same tax rate for Social Security -- but it's only up to a certain capped annual earnings amount. (As of 2017, the cap was$127,200.) Thus, someone earning $127,200 in 2017 and someone earning $5 million will pay the same Social Security tax -- a fact that many see as unfair. Taxing all of each worker's income, instead of just the first $127,200 of it, is another proposed fix to the system, and it's been estimated that 71% of the trust fund shortfall could be wiped out by eliminating the earnings cap over a 10-year period.</p>
<p>Myth No. 4: The Social Security benefits you receive are based on your last 10 years of income. Your benefits are based on the income you earned in your 35 highest-earning working years (adjusted for inflation). The rules do require you to accumulate 40 work credits in order to qualify for benefits, though, which is typically achieved in 10 years.) If you've only worked 30 years, the formula will include five years' worth of zeroes, which will give you smaller benefit checks than if you'd worked for 35 years. If you work for more than 35 years, your lowest-earning years will be dropped, so working a little longer can be a way to boost your benefits.</p>
<p>Myth No. 5: Social Security is designed to replace most of your pre-retirement income. Nope. Accordingto the Social Security Administration, retirement benefits for those with average earnings will likely replace about 40% of your pre-retirement earnings. Those who had above-average earnings in their working years can expect a lower replacement rate, and vice versa. The average monthly retirement benefit was recently$1,364, which amounts to $16,368 per year. If your earnings have been above average, though, you'll collect more than that -- up to the maximummonthly Social Security benefit for those retiring at their full retirement age, which was recently $2,687. (That's about $32,000 for the whole year.)</p>
<p>Image source: Getty Images.</p>
<p>Myth No. 6: Those who've never drawn a salary will never get Social Security benefits. Don't assume you're out of luck if you've been a homemaker or have worked for yourself for all your life. If you filed tax returns as a self-employed person, you will have paid into the system and can expect benefits. Self-employed workers actually pay twice as much into Social Security as employees do. Employee income is taxed at 6.2% for Social Security, with employers contributing an additional 6.2%. Those who are self-employed pay both the employer and employee portions, forking over a whopping 12.4%. Meanwhile, even if you've never worked outside the home, if you are or have been married, you can still collect benefits based on the earnings record of your current, ex-, or late spouse -- generally between 50% to 100% of the spouse's benefit. (Divorcees will need to have been married for at least 10 years and not have remarried.)</p>
<p>Myth No. 7: The age at which you start collecting benefits is 65. We often think of 65 as the normal (or "full") retirement age, and for a long time, that was indeed the case for all retirees. But in order to strengthen the Social Security system, the age was increased. For those born in 1937or earlier, it's 65, for those born in 1960or later, it's 67, and for those born between 1937 and 1960, it's somewhere in between.</p>
<p>Image source: Getty Image.</p>
<p>Myth No. 8: Your benefits are fixed. Don't assume that your benefits are what they are. There are some ways that you can get more out of the system.For example, know that you can start receiving benefits as early as age 62 and as late as age 70. For every year beyond your full retirement age that you delay starting to receive benefits, you'll increase their value by about 8% -- until age 70. So delaying from age 67 to 70 can leave you with checks about 24% fatter. Retire early, and your benefits may be up to about 30% smaller. Note, though, that the system is designed so that total benefits received are about the same no matter when you start collecting, for those with average life spans. Checks that start arriving at age 62 will be considerably smaller, but you'll receive many more of them. Thus, it's not necessarily dumb to start collecting early -- as most retirees actually do. Other ways to increase your benefits include working longer, earning more, and/or coordinating strategies with your spouse.</p>
<p>Myth No. 9: Social Security benefits are not taxable.They are often not taxed, but they could be taxed. If you are working or have other significant income while collecting Social Security benefits, up to 85% of your benefits might be taxed.</p>
<p>The more you learn about Social Security, the more effective your decisions regarding it will be. There are various strategies, for example, that can help you get the most out of the program.</p>
<p>The $16,122 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $16,122 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. <a href="http://www.fool.com/mms/mark/ecap-foolcom-social-security?aid=8727&amp;source=irreditxt0000002&amp;ftm_cam=ryr-ss-intro-report&amp;ftm_pit=3186&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Simply click here to discover how to learn more about these strategies Opens a New Window.</a>.</p>
<p>The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | greater tragedy exists modern civilization aged wornout worker life ceaseless effort useful productivity must look forward declining years poorhouse modern social consciousness demands humane efficient arrangement franklin roosevelt continue reading president roosevelt one signed social security law become critical part americans retirement security ever since indeed mostelderly beneficiaries get 50 income social security therefore rather important base retirementrelated thoughts actions social security myths image source getty images nine myths set straight us receiving social security benefits retirement many us rather important muchneeded income thus critical understand social security might make instead acting misconceptions 10 social security myths debunked advertisement myth 1 social security running money social security program set foreseeable future situation bad might fear taxes taken interest earned less benefit checks written social security trust funds running surplus every year since1982 surpluses likely stoparound 2019 point social security system rely incoming interest payments make deficit according several government estimates social security funds likely depleted 2034 changes made happens payment checks wont disappear theyll likely shrinkby about25 according social security administration leaving beneficiaries 75 expecting thats exactly good news 75 far better 0 people expect fortunately theres decent chance system shored one way another many possible fixes though politicians dont agree example fully 77 trust funds shortfall could eliminated increasing social security tax rate employers employees current 62 72 2022 82 2052 myth 2 money pay system money receive later people assume money removed paycheck goes account expressly growing value time provide income retirement thats case though taxes paychecks people currently working pooled paid retirees collecting benefits contributions supporting others retire benefits come earnings working great system long time people living longer collecting benefits years back 1960 contributingworkerstobeneficiaries ratio 51with 73 million workers supporting close 14 million beneficiaries 2013 28 163 million workers supporting 57 million beneficiaries expected hit 21by 2035 stressing system making eventual changes probable image source getty images myth 3 everyone contributes equally social security everyones income face tax rate social security certain capped annual earnings amount 2017 cap was127200 thus someone earning 127200 2017 someone earning 5 million pay social security tax fact many see unfair taxing workers income instead first 127200 another proposed fix system estimated 71 trust fund shortfall could wiped eliminating earnings cap 10year period myth 4 social security benefits receive based last 10 years income benefits based income earned 35 highestearning working years adjusted inflation rules require accumulate 40 work credits order qualify benefits though typically achieved 10 years youve worked 30 years formula include five years worth zeroes give smaller benefit checks youd worked 35 years work 35 years lowestearning years dropped working little longer way boost benefits myth 5 social security designed replace preretirement income nope accordingto social security administration retirement benefits average earnings likely replace 40 preretirement earnings aboveaverage earnings working years expect lower replacement rate vice versa average monthly retirement benefit recently1364 amounts 16368 per year earnings average though youll collect maximummonthly social security benefit retiring full retirement age recently 2687 thats 32000 whole year image source getty images myth 6 whove never drawn salary never get social security benefits dont assume youre luck youve homemaker worked life filed tax returns selfemployed person paid system expect benefits selfemployed workers actually pay twice much social security employees employee income taxed 62 social security employers contributing additional 62 selfemployed pay employer employee portions forking whopping 124 meanwhile even youve never worked outside home married still collect benefits based earnings record current ex late spouse generally 50 100 spouses benefit divorcees need married least 10 years remarried myth 7 age start collecting benefits 65 often think 65 normal full retirement age long time indeed case retirees order strengthen social security system age increased born 1937or earlier 65 born 1960or later 67 born 1937 1960 somewhere image source getty image myth 8 benefits fixed dont assume benefits ways get systemfor example know start receiving benefits early age 62 late age 70 every year beyond full retirement age delay starting receive benefits youll increase value 8 age 70 delaying age 67 70 leave checks 24 fatter retire early benefits may 30 smaller note though system designed total benefits received matter start collecting average life spans checks start arriving age 62 considerably smaller youll receive many thus necessarily dumb start collecting early retirees actually ways increase benefits include working longer earning andor coordinating strategies spouse myth 9 social security benefits taxablethey often taxed could taxed working significant income collecting social security benefits 85 benefits might taxed learn social security effective decisions regarding various strategies example help get program 16122 social security bonus retirees completely overlook youre like americans youre years behind retirement savings handful littleknown social security secrets could help ensure boost retirement income example one easy trick could pay much 16122 year learn maximize social security benefits think could retire confidently peace mind simply click discover learn strategies opens new window motley fool disclosure policy opens new window | 815 |
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<p>Image source: Getty Images.</p>
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<p>Whether you realize it or not, your credit score plays a big role in your everyday life.</p>
<p>Your credit score (which is more commonly known as your FICO score) is a figure ranging between 300 and 850 (where a higher number is more preferable) that represents your creditworthiness to lenders. It takes into account factors such as:</p>
<p>After adjusting for the most important factors (your ability to make timely payments and your credit utilization), the three major credit bureaus each establish their own credit score for you. It's not uncommon for your score to differ slightly at each credit bureau.</p>
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<p>Your goal should be to have a "prime" credit score since lenders are more willing to lend and offer their best rates to consumers that fall into the prime category. The definition of prime is a bit different among the three bureaus, but we're typically talking about a score above 681. "Near-prime" consumers, or those with FICO scores between 621 and 680, are often able to find lenders, but they rarely get the same attractive interest rate offers as their prime counterparts. If you fall into the "subprime" category, or a FICO score of 620 or lower, it's possible lenders could offer very high interest rates or choose not to lend to you at all.</p>
<p>Image source: Flickr user Bryan Rosengrant.</p>
<p>Most Americans are fully aware of the traditional impacts that a good or bad credit score can have on their ability to obtain a mortgage, refinance an existing home, or obtain a credit card. Lenders are going to want the assurance that you can meet your debt obligations, and a low credit score could keep you from becoming a homeowner or even obtaining a credit card.</p>
<p>But there's much more that your credit score can affect that you may not even be aware of.</p>
<p>Maintaining a good credit score is important if you want to find a place to live, period. Not only do banks and mortgage companies look at your credit history if you're looking to buy a house or condo, but a landlord looking to rent to you is allowed to examine your credit history. A TransUnion study from 2015 pointed out that nearly half of all landlords consider a credit check to be among their three most important factors when deciding whether to accept a tenant's lease application.</p>
<p>Landlords can use your credit history to determine if you make your payments on time, as well as decipher if you have any account charge-offs or repossessions. Small mistakes, like missing a payment, may not cost you the house or apartment you're trying to rent, but charge-offs and repossessions can be deal-killers with landlords (not to mention they can crush your credit score).</p>
<p>Your credit history can also affect your ability to get a job. According to NerdWallet, a 2012 survey from the Society for Human Resource Management found that 47% of employers check potential new hires' credit reports as part of the hiring process. However, you should be aware that you need to give written permission to a prospective employer to access your credit reports, and that 11 states bar employers from access prospective hires' credit reports.</p>
<p>Image source: Flickr user Reynermedia.</p>
<p>What are employers looking for, you wonder? They won't be able to see your credit score or personal account information, but they should be able to get an idea of your trustworthiness based on your ability to meet your debt obligations. NerdWallet <a href="https://www.nerdwallet.com/blog/finance/credit-score-employer-checking/" type="external">points out Opens a New Window.</a> that screening credit reports for prospective new hires can "decrease the likelihood of theft and embezzlement and reduce legal liability for negligent hiring."</p>
<p>In other words, a bad credit score could deny you the job you want.</p>
<p>You may not realize it, but some auto and homeowner insurance companies can access your credit score to justify charging you a higher or lower price. Why? Insurers have discovered that there's a statistical correlation between a person's credit score and their propensity to file a claim.</p>
<p>Image source: State Farm via Flickr.</p>
<p>For instance, in 2003 the Bureau of Business Research at the University of Texas' McCombs School of Business found stark car insurance expense differences based on consumers' credit scores after reviewing more than 175,000 auto policies. The researchers found that the average consumer cost auto insurers $695 a year in 2003. Comparatively, customers with the highest credit score averaged a cost to insurers of $558 a year, while consumers in the bottom 10 percentile cost an average of $918 a year.</p>
<p>If you have a relatively low credit score, your insurer could view you as a greater risk than the average consumer.</p>
<p>Here's the good news: Your credit score, regardless of how bad, can't affect your ability to get electricity, water, cable, internet, or even cellular service. However, utilities can access your credit report to determine your trustworthiness as a customer. If a utility observes that you have a history of being late on your accounts, or that you have other negatives on your credit report, it can require you to put a deposit down prior to commencing service.</p>
<p>Lastly, a poor credit score could adversely impact your love life.</p>
<p>A 2013 <a href="http://money.usnews.com/money/blogs/alpha-consumer/2013/07/29/is-your-credit-score-hurting-your-love-life" type="external">survey Opens a New Window.</a> from U.S. News &amp; World Report found that three in 10 women and two in 10 men would not marry a person with a poor credit score. Comparatively, 90% of respondents said that financial responsibility was a key attribute when considering a life partner. Having a poor credit score isn't necessarily going to stop you from meeting the person of your dreams, but according to this data, it could keep the relationship from lasting a lifetime.</p>
<p>The $15,834 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. For example: one easy trick could pay you as much as $15,834 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. <a href="http://www.fool.com/mms/mark/ecap-foolcom-social-security?aid=8727&amp;source=irreditxt0000002&amp;ftm_cam=ryr-ss-intro-report&amp;ftm_pit=3186&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Simply click here to discover how to learn more about these strategies. Opens a New Window.</a></p>
<p><a href="http://my.fool.com/profile/TMFUltraLong/info.aspx" type="external">Sean Williams Opens a New Window.</a>has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name <a href="http://caps.fool.com/player/tmfultralong.aspx" type="external">TMFUltraLong Opens a New Window.</a>, and check him out on Twitter, where he goes by the handle <a href="http://twitter.com/#%21/TMFUltraLong" type="external">@TMFUltraLong Opens a New Window.</a>.</p>
<p>The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley" type="external">considering a diverse range of insights Opens a New Window.</a>makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source getty images continue reading whether realize credit score plays big role everyday life credit score commonly known fico score figure ranging 300 850 higher number preferable represents creditworthiness lenders takes account factors adjusting important factors ability make timely payments credit utilization three major credit bureaus establish credit score uncommon score differ slightly credit bureau advertisement goal prime credit score since lenders willing lend offer best rates consumers fall prime category definition prime bit different among three bureaus typically talking score 681 nearprime consumers fico scores 621 680 often able find lenders rarely get attractive interest rate offers prime counterparts fall subprime category fico score 620 lower possible lenders could offer high interest rates choose lend image source flickr user bryan rosengrant americans fully aware traditional impacts good bad credit score ability obtain mortgage refinance existing home obtain credit card lenders going want assurance meet debt obligations low credit score could keep becoming homeowner even obtaining credit card theres much credit score affect may even aware maintaining good credit score important want find place live period banks mortgage companies look credit history youre looking buy house condo landlord looking rent allowed examine credit history transunion study 2015 pointed nearly half landlords consider credit check among three important factors deciding whether accept tenants lease application landlords use credit history determine make payments time well decipher account chargeoffs repossessions small mistakes like missing payment may cost house apartment youre trying rent chargeoffs repossessions dealkillers landlords mention crush credit score credit history also affect ability get job according nerdwallet 2012 survey society human resource management found 47 employers check potential new hires credit reports part hiring process however aware need give written permission prospective employer access credit reports 11 states bar employers access prospective hires credit reports image source flickr user reynermedia employers looking wonder wont able see credit score personal account information able get idea trustworthiness based ability meet debt obligations nerdwallet points opens new window screening credit reports prospective new hires decrease likelihood theft embezzlement reduce legal liability negligent hiring words bad credit score could deny job want may realize auto homeowner insurance companies access credit score justify charging higher lower price insurers discovered theres statistical correlation persons credit score propensity file claim image source state farm via flickr instance 2003 bureau business research university texas mccombs school business found stark car insurance expense differences based consumers credit scores reviewing 175000 auto policies researchers found average consumer cost auto insurers 695 year 2003 comparatively customers highest credit score averaged cost insurers 558 year consumers bottom 10 percentile cost average 918 year relatively low credit score insurer could view greater risk average consumer heres good news credit score regardless bad cant affect ability get electricity water cable internet even cellular service however utilities access credit report determine trustworthiness customer utility observes history late accounts negatives credit report require put deposit prior commencing service lastly poor credit score could adversely impact love life 2013 survey opens new window us news amp world report found three 10 women two 10 men would marry person poor credit score comparatively 90 respondents said financial responsibility key attribute considering life partner poor credit score isnt necessarily going stop meeting person dreams according data could keep relationship lasting lifetime 15834 social security bonus retirees completely overlook youre like americans youre years behind retirement savings handful littleknown social security secrets could help ensure boost retirement income example one easy trick could pay much 15834 year learn maximize social security benefits think could retire confidently peace mind simply click discover learn strategies opens new window sean williams opens new windowhas material interest companies mentioned article follow caps screen name tmfultralong opens new window check twitter goes handle tmfultralong opens new window motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new windowmakes us better investors motley fool disclosure policy opens new window | 659 |
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<p>The Japanese share market fell more than 3 percent on Monday after a series of earthquakes measuring up to 7.3 magnitude struck a southern manufacturing hub, killing at least 42 people and forcing major companies to close factories.</p>
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<p>About 30,000 rescue workers were scouring the rubble for survivors and handing out food to those unable to return to their homes following the quakes which struck Kyushu island from Thursday. The biggest hit near Kumamoto city early on Saturday.</p>
<p>"There are still missing people. We want to make further efforts to rescue and save people and prioritize human lives," Prime Minister Shinzo Abe told parliament, adding he aimed to declare the region a disaster zone to free up reconstruction funds.</p>
<p>The Nikkei stock index ended 3.4 percent lower, hit by a stronger yen and as investors weighed the impact of the disaster on manufacturers' supply chains and insurers.</p>
<p>Factories for major manufacturers including Toyota, Sony and Honda were closed, disrupting supply chains around the country.</p>
<p>Japan's atomic regulator declared three nuclear plants in the region safe, giving a degree of comfort to a country deeply scarred by the Fukushima nuclear disaster of 2011 that was sparked by an earthquake and tsunami.</p>
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<p>All commercial flights to the damaged Kumamoto airport were canceled and the bullet train service to the region was suspended.</p>
<p>Food was in short supply as roads remained cut off by landslides. Evacuees made an SOS signal out of chairs at a school playground, hoping to catch the attention of supply helicopters, Japanese media reported.</p>
<p>"Yesterday, I ate just one piece of tofu and a rice ball," said the mayor of one of the areas affected. "What we're most worried about now is food."</p>
<p>Of more than 500 quakes hitting Kyushu since Thursday, more than 70 have been at least a four on Japan's intensity scale, strong enough to shake buildings.</p>
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<p>The Kumamoto region is an important manufacturing hub and home to Japan's only operating nuclear station.</p>
<p>Chief Cabinet Secretary Yoshihide Suga said the government would "take all the necessary measures" to support companies affected by the disaster and the economy more broadly, including tapping into reserve funds of 350 billion yen ($3.24 billion).</p>
<p>Abe said a sales tax increase next year would go ahead barring a financial crisis or major natural disaster, without elaborating on whether the quakes qualified as such a disaster.</p>
<p>On the stock market, Sony Corp and Toyota Motor led the sharp falls among manufacturers, dropping 6.8 percent and 4.8 percent respectively. Nissan Motor and Honda Motor both lost about 3 percent. Insurers and utilities were also sold, with nuclear plant operator Kyushu Electric Power slumping nearly 8 percent.</p>
<p>Toyota said it would suspend production at plants across Japan after the quakes disrupted its supply chain.</p>
<p>Electronics giant Sony said its Kumamoto image sensors plant would remain suspended. One of the company's major customers for the sensors is Apple. Honda said production at its motorcycle plant in southern Japan would remain suspended through Friday.</p>
<p>The Kumamoto government said 42 people had been killed and nine were missing.</p>
<p>Thirty three people have been confirmed dead in Saturday's quake and nine in the smaller tremor just over 24 hours earlier. The government said about 190 of the injured were in serious condition and some 110,000 people had been displaced.</p>
<p>Rescuers digging with their bare hands dragged some elderly survivors, still in pyjamas, out of the rubble and onto makeshift stretchers made of tatami mats.</p>
<p>"We can't take a bath, we don't have any clothes to change into - we just have what we ran out in - and it's taking a long time for goods to get here," a woman at one evacuation center told TBS television.</p>
<p>Public broadcaster NHK showed footage of forests and rice fields torn apart by the quake, saying one 50 km (31 miles) strip shifted almost 2 meters (6 feet) sideways.</p>
<p>Quakes are common in Japan, part of the seismically active "Ring of Fire" which sweeps from the South Pacific islands, up through Indonesia, Japan, across to Alaska and down the west coast of North, Central and South America.</p>
<p>At the other end of the ring this weekend, Ecuador's biggest earthquake in decades killed at least 262 people, caused devastation in coastal towns and left an unknown number trapped in ruins.</p>
<p>A massive 9 magnitude quake and tsunami in northern Japan in March 2011 caused the worst nuclear crisis since Chernobyl in 1986, shutting down the nuclear industry for safety checks and sending radiation spewing across the countryside.</p>
<p>Nearly 20,000 people were killed in the 2011 tsunami.</p>
<p>(Additional reporting by Linda Sieg, Elaine Lies, William Mallard, Shinichi Soashiro, Chris Gallagher, Kiyoshi Takenaka, Tim Kelly and Thomas Wilson; Writing by Stephen Coates; Editing by Robert Birsel and Ian Geoghegan)</p> | true | 0 | japanese share market fell 3 percent monday series earthquakes measuring 73 magnitude struck southern manufacturing hub killing least 42 people forcing major companies close factories continue reading 30000 rescue workers scouring rubble survivors handing food unable return homes following quakes struck kyushu island thursday biggest hit near kumamoto city early saturday still missing people want make efforts rescue save people prioritize human lives prime minister shinzo abe told parliament adding aimed declare region disaster zone free reconstruction funds nikkei stock index ended 34 percent lower hit stronger yen investors weighed impact disaster manufacturers supply chains insurers factories major manufacturers including toyota sony honda closed disrupting supply chains around country japans atomic regulator declared three nuclear plants region safe giving degree comfort country deeply scarred fukushima nuclear disaster 2011 sparked earthquake tsunami advertisement commercial flights damaged kumamoto airport canceled bullet train service region suspended food short supply roads remained cut landslides evacuees made sos signal chairs school playground hoping catch attention supply helicopters japanese media reported yesterday ate one piece tofu rice ball said mayor one areas affected worried food 500 quakes hitting kyushu since thursday 70 least four japans intensity scale strong enough shake buildings desperate search kumamoto region important manufacturing hub home japans operating nuclear station chief cabinet secretary yoshihide suga said government would take necessary measures support companies affected disaster economy broadly including tapping reserve funds 350 billion yen 324 billion abe said sales tax increase next year would go ahead barring financial crisis major natural disaster without elaborating whether quakes qualified disaster stock market sony corp toyota motor led sharp falls among manufacturers dropping 68 percent 48 percent respectively nissan motor honda motor lost 3 percent insurers utilities also sold nuclear plant operator kyushu electric power slumping nearly 8 percent toyota said would suspend production plants across japan quakes disrupted supply chain electronics giant sony said kumamoto image sensors plant would remain suspended one companys major customers sensors apple honda said production motorcycle plant southern japan would remain suspended friday kumamoto government said 42 people killed nine missing thirty three people confirmed dead saturdays quake nine smaller tremor 24 hours earlier government said 190 injured serious condition 110000 people displaced rescuers digging bare hands dragged elderly survivors still pyjamas rubble onto makeshift stretchers made tatami mats cant take bath dont clothes change ran taking long time goods get woman one evacuation center told tbs television public broadcaster nhk showed footage forests rice fields torn apart quake saying one 50 km 31 miles strip shifted almost 2 meters 6 feet sideways quakes common japan part seismically active ring fire sweeps south pacific islands indonesia japan across alaska west coast north central south america end ring weekend ecuadors biggest earthquake decades killed least 262 people caused devastation coastal towns left unknown number trapped ruins massive 9 magnitude quake tsunami northern japan march 2011 caused worst nuclear crisis since chernobyl 1986 shutting nuclear industry safety checks sending radiation spewing across countryside nearly 20000 people killed 2011 tsunami additional reporting linda sieg elaine lies william mallard shinichi soashiro chris gallagher kiyoshi takenaka tim kelly thomas wilson writing stephen coates editing robert birsel ian geoghegan | 523 |
<p>Should Christians Be Celebrating Halloween? Looking At Halloween From The Bible's Perspective</p>
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<p>"And have no fellowship with the unfruitful works of darkness, but rather reprove them. For it is a shame even to speak of those things which are done of them in secret." <a href="javascript:;" type="external">Ephesians 5: 11,12</a> <a href="https://withoneaccord.3dcartstores.com/" type="external">Click here</a> to visit William Schnoebelen's website...</p>
<p>Ancient Druids. Many Christians celebrate holidays, such as Halloween, without thinking about their origins or true meaning. It is impossible to separate Halloween from the Druids because they originated the "holiday." For several hundred years before Christ, the Celts inhabited what is now France, Germany, England, Scotland and Ireland. Celtic priests were called Druids. These people were eventually conquered by the Romans. Information about the Celts and Druids comes from Caesar and the Roman historians, Greek writings from about 200 B.C., and very early records found in Ireland. Greek and Roman writings about the Druids dwell heavily on their frequent and barbaric human sacrifices. The ancient Irish texts say little about human sacrifices, but detail the Druids' use of magic to raise storms, lay curses on places, kill by the use of spells, and create magical obstacles. Druids worshipping the Devil at Stonehenge Human Sacrifices. Davies, however, a 16th century writer who traced his family lineage directly back to Druid priests who fought against Caesar, clearly describes the human sacrifices of his ancestors and the secret sacrifices still performed regularly by the Druids of his time. By 47 A.D., Rome finally defeated the Druids in Britain and outlawed human sacrifices. The few remaining Druids went underground. Today a growing group of people claiming to be of direct Druid descent, still practice their religion, including human sacrifice. Those in England still perform ceremonies at Stonehenge. Druids starting bonfires to give homage and worship to their pagan gods. This included the burning of animals and crops to appease thier deities. November 1st was the Celtic new year. October 31st was celebrated by the Druids with many human sacrifices and a festival honoring their sun god and Samhain, the lord of the dead. They believed that the sinful souls of those who died during the year were in a place of torment, and would be released only if Samhain was pleased with their sacrifices.</p>
<p>Monks Fascinated By Druids. rish records tell of the fascination the Catholic monks had with the powerful Druids, and Druids soon became important members of their monasteries. Pope Gregory the Great decided to incorporate the Druids' holiday into the church. He made the proclamation, "They are no longer to sacrifice beasts to the devil, but they may kill them for food to the praise of God, and give thanks to the giver of all gifts for His bounty." Pope Gregory III moved the church festival of October 31st to November 1st and called it All Hallows or All Saints' Day. Pope Gregory IV decreed that the day was to be a universal church observance. The term Halloween comes from All Hallows Eve.</p>
<p>The founding fathers of America refused to permit the holiday to be observed because they knew it was a pagan holiday. Halloween was not widely celebrated in the U.S. until about 1900. In the 1840's there was a terrible potato famine in Ireland which sent thousands of Catholic Irish to America. They brought Halloween with them. The modern custom of going from door to door asking for food and candy goes back to the time of the Druids. They believed that sinful, lost souls were released upon the earth by Samhain for one night on October 31st while they awaited their judgment. They were thought to throng about the houses of the living and were greeted with banquet-laden tables. People greatly feared these spirits and thought that the spirits would harm and even kill them if the sacrifices they gave did not appease Samhain. They carved demonic faces into pumpkins or large turnips, placing a candle in them to keep the evil spirits away from their homes. The modern custom of going from door to door asking for food and candy goes back to the time of the Druids. They believed that sinful, lost souls were released upon the earth by Samhain for one night on October 31st while they awaited their judgment. They were thought to throng about the houses of the living and were greeted with banquet-laden tables. People greatly feared these spirits and thought that the spirits would harm and even kill them if the sacrifices they gave did not appease Samhain. They carved demonic faces into pumpkins or large turnips, placing a candle in them to keep the evil spirits away from their homes. The tradition of bobbing for apples and giving out nuts came from a Roman addition to the Druidic New Year's eve. The Romans worshiped Pomona who was the goddess of the harvest. They combined their harvest festival to Pomona with Halloween. Very little archeological evidence of the Druids has been found, but there is excellent agreement between the Roman and Irish documents. Both clearly state that the knowledge of the Druids was never committed to writing but passed from generation to generation by oral teaching. This was to protect their secrets. In his writings, Davies indicates that he came under much persecution by his family for putting in writing his information about Druids. The same is true today. Nothing is put into writing. The Druids continue on secretly with much the same traditions. The widespread problem of harmful substances such as razor blades, drugs, poisons, needles, etc. being placed in the Halloween treats here in America is no accident. Testimonies of several ex-Satanists show that these children killed and injured by the "treats" are sacrifices to Satan (or Samhain). Satanists throughout the world continue to perform human sacrifices on Halloween. Is this something you want YOUR child to participate in?" <a href="javascript:;" type="external">source - Chick Publications</a></p> Ancient Druids. November 1st was the Celtic new year. Monks Fascinated By Druids. | true | 0 | christians celebrating halloween looking halloween bibles perspective 160 fellowship unfruitful works darkness rather reprove shame even speak things done secret ephesians 5 1112 click visit william schnoebelens website ancient druids many christians celebrate holidays halloween without thinking origins true meaning impossible separate halloween druids originated holiday several hundred years christ celts inhabited france germany england scotland ireland celtic priests called druids people eventually conquered romans information celts druids comes caesar roman historians greek writings 200 bc early records found ireland greek roman writings druids dwell heavily frequent barbaric human sacrifices ancient irish texts say little human sacrifices detail druids use magic raise storms lay curses places kill use spells create magical obstacles druids worshipping devil stonehenge human sacrifices davies however 16th century writer traced family lineage directly back druid priests fought caesar clearly describes human sacrifices ancestors secret sacrifices still performed regularly druids time 47 ad rome finally defeated druids britain outlawed human sacrifices remaining druids went underground today growing group people claiming direct druid descent still practice religion including human sacrifice england still perform ceremonies stonehenge druids starting bonfires give homage worship pagan gods included burning animals crops appease thier deities november 1st celtic new year october 31st celebrated druids many human sacrifices festival honoring sun god samhain lord dead believed sinful souls died year place torment would released samhain pleased sacrifices monks fascinated druids rish records tell fascination catholic monks powerful druids druids soon became important members monasteries pope gregory great decided incorporate druids holiday church made proclamation longer sacrifice beasts devil may kill food praise god give thanks giver gifts bounty pope gregory iii moved church festival october 31st november 1st called hallows saints day pope gregory iv decreed day universal church observance term halloween comes hallows eve founding fathers america refused permit holiday observed knew pagan holiday halloween widely celebrated us 1900 1840s terrible potato famine ireland sent thousands catholic irish america brought halloween modern custom going door door asking food candy goes back time druids believed sinful lost souls released upon earth samhain one night october 31st awaited judgment thought throng houses living greeted banquetladen tables people greatly feared spirits thought spirits would harm even kill sacrifices gave appease samhain carved demonic faces pumpkins large turnips placing candle keep evil spirits away homes modern custom going door door asking food candy goes back time druids believed sinful lost souls released upon earth samhain one night october 31st awaited judgment thought throng houses living greeted banquetladen tables people greatly feared spirits thought spirits would harm even kill sacrifices gave appease samhain carved demonic faces pumpkins large turnips placing candle keep evil spirits away homes tradition bobbing apples giving nuts came roman addition druidic new years eve romans worshiped pomona goddess harvest combined harvest festival pomona halloween little archeological evidence druids found excellent agreement roman irish documents clearly state knowledge druids never committed writing passed generation generation oral teaching protect secrets writings davies indicates came much persecution family putting writing information druids true today nothing put writing druids continue secretly much traditions widespread problem harmful substances razor blades drugs poisons needles etc placed halloween treats america accident testimonies several exsatanists show children killed injured treats sacrifices satan samhain satanists throughout world continue perform human sacrifices halloween something want child participate source chick publications ancient druids november 1st celtic new year monks fascinated druids | 556 |
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<p>Image source: Flickr user Bryan Rosengrant.</p>
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<p>Whether you want to admit it or not, the United States is a nation that runs on plastic. Credit cards are convenient, and many these days offer rewards to cardholders as a perk to keep them loyal, making plastic the preferred choice for quite a few consumers (including yours truly).</p>
<p>According to data from the Federal Reserve Bank of Boston between 2011 and 2012, 72.1% of all consumers had at least one credit card. Based on Census Bureau data from 2014, this would work out to about 167 million American adults walking around with at least one credit card in their wallet.</p>
<p>When averaged across all adult Americans, the average American had 2.6 credit cards in their wallet as of 2014. This was actually down about 10% from the mean of 2.9 per American that was noted in 2004, 2006, and 2008. The findings also showed that close to a fifth of credit card holders (18%) have three or four cards, 9% had five or six, and 7% had seven or more credit cards in 2014.</p>
<p>Average debt per household -- how do you compare? But just because the mean number of credit cards that Americans have in their wallet appears to be falling, it doesn't mean that average credit debt per household is as well. The <a href="http://www.cardhub.com/edu/credit-card-debt-study/" type="external">2015 Credit Card Debt Study Opens a New Window.</a>, which was released by CardHub earlier this month, shows that average household credit card debt is once again on the rise.</p>
<p>Based on CardHub's data, the average credit card debt per household in the U.S. hit $7,879 in the fourth quarter of 2015, its highest level since the first quarter of 2009 ($7,887) and very close to the point at which credit delinquencies and charge-offs proved unsustainable during the Great Recession. In fact, CardHub pinpoints U.S. households as being an average of less than $500 away from unsustainable credit debt levels. Now think about where you or your family's current credit card debt situation stands next to that $7,879 average per household.</p>
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<p>Chart by author. Data source: CardHub 2015 Credit Card Debt Study.</p>
<p>As you can see from the chart above, credit card debt often drops during the first quarter every year as consumers use federal tax refunds to pay down debt. In an average year about 80% of taxpayers will receive refunds, so this tends to be a trend you can almost count on each year. However, the second half of the year, which features a number of retail holidays and events, including back-to-school shopping and Christmas, has a tendency to cancel out what was paid off during the first half of the year. In 2015, the fourth-quarter debt buildup of $52.4 billion was the highest since the Great Recession.</p>
<p>If there is good news here, it's that quarterly charge-off rates for credit issuers remain near their historic lows. For now it would appear that American households are absorbing higher credit card debt levels with ease thanks to a growing U.S. economy and very favorable lending rates on account of an accommodative Federal Reserve.</p>
<p>Chart by author. Data source: 2015 CardHub Credit Card Debt Study.</p>
<p>But as the report points out, it also appears that consumers' poor spending habits may be rearing their ugly head once more.</p>
<p>How to avoid becoming an unfavorable credit card statisticAt some point it seems likely that credit delinquencies are going to rise. It's unclear what "X factor" will cause this to happen (perhaps a recession or a series of Federal Reserve rate hikes), but it's in credit card holders' best interests to practice smart spending habits from here on out so they don't become unfavorable credit card statistics.</p>
<p>Image source: Pixabay.</p>
<p>The first step for all credit card-toting Americans is to formulate a budget and stick to it. Chances are that if you asked consumers how much money they bring in each month they'd have a pretty good idea. However, ask these same consumers where their money goes once it's deposited into their bank account and you're liable to get a number of shoulder shrugs. Formulating a budget allows consumers to completely understand their cash flow, and understanding your cash flow is the first step to saving more and paying down potentially crippling levels of debt. Best of all, reviewing your budget won't take but 30 minutes a month, so it really is as easy as one, two, three!</p>
<p>Secondly, understand the importance of <a href="http://www.fool.com/how-to-invest/personal-finance/credit/2014/12/15/this-is-how-your-credit-score-is-actually-calculat.aspx?source=eptfxblnk0000004" type="external">maintaining a good credit score Opens a New Window.</a>. Lenders usually base your interest rate off of your credit score, which is in turn predominantly derived from your payment history and credit utilization, and to a smaller degree on your length of credit history, credit mix, and new accounts opened. Understanding how your credit score can affect the interest rate you'll pay can be a strong motivator to develop good credit card habits.</p>
<p>Image source: Pictures of Money via Flickr.</p>
<p>Third, ensure that you have sufficient funds to cover your monthly expenses should an emergency arise instead of having to turn to your plastic. Emergencies can take many shapes, such as a surprise medical bill or even losing your job. While there's no concrete number that's correct, I personally advocate having an emergency fund that could cover six months' worth of basic expenses (mortgage, food, electricity, and so on) should an emergency arise. Plus, you can always consider using excess cash in an emergency fund to pay down some, or all, of your debt.</p>
<p>Fourth, keep in mind that you always have options available to you. If you have a good payment history and credit score, consider asking your lenders for a reduction in your interest rate. You may wind up hearing "No," but competition among credit lenders can be fierce. It's just as possible you could indeed wind up with a lowered interest rate, which saves you money on debt carried over to the next month.</p>
<p>Along those same lines, if you find that your debt load is unsustainable, consider talking it over with your creditors instead of crawling into the fetal position under the sheets. Your lenders would very much prefer not to send your loans to a collection agency, because that means having to share a percentage of whatever is collected with the collection agency. More often than not, your lenders will be willing to work out a payment plan with you.</p>
<p>The last idea involves consolidating your debt to a 0% APR or low-interest rate credit card. Although doing so could adversely impact your credit score (it may negatively impact your credit utilization rate), lumping your debt on a 0% APR or low-interest card should allow you to tackle your remaining debt at a quicker rate.</p>
<p>Don't allow yourself to become an unfavorable credit statistic. Take action today to become a smart credit card user.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/03/20/the-average-american-household-carries-this-much-i.aspx" type="external">The Average American Household Carries This Much in Credit Card Debt -- How Do You Compare? Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFUltraLong/info.aspx?source=eptfxblnk0000004" type="external">Sean Williams Opens a New Window.</a>has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name <a href="http://caps.fool.com/player/tmfultralong.aspx?source=eptfxblnk0000004" type="external">TMFUltraLong Opens a New Window.</a>, track every pick he makes under the screen name <a href="http://caps.fool.com/player/trackultralong.aspx?source=eptfxblnk0000004" type="external">TrackUltraLong Opens a New Window.</a>, and check him out on Twitter, where he goes by the handle <a href="http://twitter.com/#%21/TMFUltraLong" type="external">@TMFUltraLong Opens a New Window.</a>.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a>makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source flickr user bryan rosengrant continue reading whether want admit united states nation runs plastic credit cards convenient many days offer rewards cardholders perk keep loyal making plastic preferred choice quite consumers including truly according data federal reserve bank boston 2011 2012 721 consumers least one credit card based census bureau data 2014 would work 167 million american adults walking around least one credit card wallet averaged across adult americans average american 26 credit cards wallet 2014 actually 10 mean 29 per american noted 2004 2006 2008 findings also showed close fifth credit card holders 18 three four cards 9 five six 7 seven credit cards 2014 average debt per household compare mean number credit cards americans wallet appears falling doesnt mean average credit debt per household well 2015 credit card debt study opens new window released cardhub earlier month shows average household credit card debt rise based cardhubs data average credit card debt per household us hit 7879 fourth quarter 2015 highest level since first quarter 2009 7887 close point credit delinquencies chargeoffs proved unsustainable great recession fact cardhub pinpoints us households average less 500 away unsustainable credit debt levels think familys current credit card debt situation stands next 7879 average per household advertisement chart author data source cardhub 2015 credit card debt study see chart credit card debt often drops first quarter every year consumers use federal tax refunds pay debt average year 80 taxpayers receive refunds tends trend almost count year however second half year features number retail holidays events including backtoschool shopping christmas tendency cancel paid first half year 2015 fourthquarter debt buildup 524 billion highest since great recession good news quarterly chargeoff rates credit issuers remain near historic lows would appear american households absorbing higher credit card debt levels ease thanks growing us economy favorable lending rates account accommodative federal reserve chart author data source 2015 cardhub credit card debt study report points also appears consumers poor spending habits may rearing ugly head avoid becoming unfavorable credit card statisticat point seems likely credit delinquencies going rise unclear x factor cause happen perhaps recession series federal reserve rate hikes credit card holders best interests practice smart spending habits dont become unfavorable credit card statistics image source pixabay first step credit cardtoting americans formulate budget stick chances asked consumers much money bring month theyd pretty good idea however ask consumers money goes deposited bank account youre liable get number shoulder shrugs formulating budget allows consumers completely understand cash flow understanding cash flow first step saving paying potentially crippling levels debt best reviewing budget wont take 30 minutes month really easy one two three secondly understand importance maintaining good credit score opens new window lenders usually base interest rate credit score turn predominantly derived payment history credit utilization smaller degree length credit history credit mix new accounts opened understanding credit score affect interest rate youll pay strong motivator develop good credit card habits image source pictures money via flickr third ensure sufficient funds cover monthly expenses emergency arise instead turn plastic emergencies take many shapes surprise medical bill even losing job theres concrete number thats correct personally advocate emergency fund could cover six months worth basic expenses mortgage food electricity emergency arise plus always consider using excess cash emergency fund pay debt fourth keep mind always options available good payment history credit score consider asking lenders reduction interest rate may wind hearing competition among credit lenders fierce possible could indeed wind lowered interest rate saves money debt carried next month along lines find debt load unsustainable consider talking creditors instead crawling fetal position sheets lenders would much prefer send loans collection agency means share percentage whatever collected collection agency often lenders willing work payment plan last idea involves consolidating debt 0 apr lowinterest rate credit card although could adversely impact credit score may negatively impact credit utilization rate lumping debt 0 apr lowinterest card allow tackle remaining debt quicker rate dont allow become unfavorable credit statistic take action today become smart credit card user article average american household carries much credit card debt compare opens new window originally appeared foolcom sean williams opens new windowhas material interest companies mentioned article follow caps screen name tmfultralong opens new window track every pick makes screen name trackultralong opens new window check twitter goes handle tmfultralong opens new windowthe motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new windowmakes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 771 |
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<p>Millions of Americans depend on their Social Security benefits to help them meet their financial obligations. For that reason it makes a great deal of sense for recipients to pursue any strategy that helps to ensure their monthly checks are as large as possible.</p>
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<p>To help you get the most out of your Social Security benefits we asked a team of Motley Fool contributors to share a strategy that can help our readers to boost their monthly benefit check. Read below to see what they had to say.</p>
<p><a href="http://my.fool.com/profile/TMFGalagan/info.aspx?source=eptfxblnk0000004" type="external">Dan Caplinger</a>: One area where the laws concerning Social Security are in flux concerns married couple and maximizing their benefits. In the past, a strategy known as file and suspend allowed couples to have a higher-earning spouse file for retirement benefits but immediately suspend them. That allowed the lower-earning spouse to claim spousal benefits, but it also permitted the higher-earning spouse to keep earning delayed retirement credits that would lead to a bigger monthly payment down the road.</p>
<p>Now that April is over, the file and suspend strategy isn't available any longer, because suspending your benefits will also cut off your spouse from claiming spousal benefits on your record. As a result, more couples will have to consider starting to receive benefits at an earlier age, especially in one-earner couples in which the non-earning spouse's spousal benefits won't be available unless the earning spouse files for retirement benefits. That level of coordination gets complicated quickly, and it's even more complex when you take into account the effect of your initial claiming decision on the survivor benefits that a surviving spouse would be able to claim on your record after your death. All in all, even if you think you have Social Security figured out, you need to look at recent law changes to make sure your plans for retirement will still work.</p>
<p><a href="http://my.fool.com/profile/TMFTypeoh/info.aspx?source=eptfxblnk0000004" type="external">Brian Feroldi:</a> If maximizing your Social Security payout is your goal, then it's critical to have a firm grasp on the formula that is used to tabulate your benefits.</p>
<p>Social Security benefits are calculated based on your lifetime earnings history, but the agency does slightly tweak your data when they are figuring out how much you are owed.</p>
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<p>First, the SSA indexes your wages to bring them up to near-current levels. This helps to ensure that a worker's benefits account for the standard of living increase that occurred during his or her career.</p>
<p>Next, the workers highest 35 years of earnings are averaged together. From there the SSA applies a formula to the total and out pops the "primary insurance amount," which is the benefit that a worker would receive if they choose to start receiving checks at their full retirement age.</p>
<p>With this formula in mind one smart way to ensure that your benefits are as high as possible is to make sure that you have at least 35 working years on record. If your working history is less than 35 years then the agency will use a $0 in their calculation for each year that you are short, which can put a lot of downward pressure on your average and reduce your benefits.</p>
<p>If you run this calculation and find that you are a year or two short then staying in the work force until you reach the 35 year target will certainly give your benefit check a big boost.</p>
<p><a href="http://my.fool.com/profile/TMFSelena/info.aspx?source=eptfxblnk0000004" type="external">Selena Maranjian</a>: One guaranteed way to boost your Social Security benefits is to delay starting to collect them. You can start receiving the payments as early as age 62, but they'll be smaller than they would be if you started them at your "full" retirement age -- the one at which you'll receive your full benefits. You can also opt to start collecting as late as age 70, and for every year beyond your full retirement age that you delay, your benefits will increase in value by about 8% -- up to age 70. So delay from 67 to 70 and you can make your checks fully 24% bigger. That's pretty powerful. If you were expecting to collect $2,000 per month ($24,000 per year), you can instead receive $2,480 per month (or nearly $30,000 annually).</p>
<p>It's not a slam-dunk move, though. As the Social Security Administration has explained: "If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62, full retirement age, age 70 or any age in between." Remember, after all, that in the example above, you might end up with $2,480 monthly checks, but you would have given up three years' worth of $2,000 checks in order to achieve that -- that's 36 times $2,000, or $72,000.</p>
<p>If you can afford to delay starting to collect, though, it can be well worth it to do so. If you expect to live a long time, for instance, you'll come out ahead. Not everyone can afford to wait, though, so know that starting on time -- or even early -- isn't as financially damaging as it might seem.</p>
<p>The article <a href="http://www.fool.com/retirement/general/2016/05/16/3-ways-americans-maximize-social-security-benefits.aspx" type="external">3 Ways Americans Maximize Social Security Benefits</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFTypeoh/info.aspx?source=eptfxblnk0000004" type="external">Brian Feroldi</a> has no position in any stocks mentioned.Like this article? Follow him onTwitter where he goes by the handle <a href="https://twitter.com/intent/follow?original_referer=http://www.fool.com/investing/general/2016/04/26/can-skyworks-solutions-inc-overcome-the-smartphone.aspx?source=iaasitlnk0000003&amp;ref_src=twsrc%5Etfw&amp;region=follow_link&amp;screen_name=longtermmindset&amp;tw_p=followbutton&amp;source=eptfxblnk0000004" type="external">@Longtermmind-set</a>or connect with him on <a href="https://www.linkedin.com/in/brian-feroldi-46370a5" type="external">LinkedIn</a> to see more articles like this.Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy</a>.</p> | true | 0 | millions americans depend social security benefits help meet financial obligations reason makes great deal sense recipients pursue strategy helps ensure monthly checks large possible continue reading help get social security benefits asked team motley fool contributors share strategy help readers boost monthly benefit check read see say dan caplinger one area laws concerning social security flux concerns married couple maximizing benefits past strategy known file suspend allowed couples higherearning spouse file retirement benefits immediately suspend allowed lowerearning spouse claim spousal benefits also permitted higherearning spouse keep earning delayed retirement credits would lead bigger monthly payment road april file suspend strategy isnt available longer suspending benefits also cut spouse claiming spousal benefits record result couples consider starting receive benefits earlier age especially oneearner couples nonearning spouses spousal benefits wont available unless earning spouse files retirement benefits level coordination gets complicated quickly even complex take account effect initial claiming decision survivor benefits surviving spouse would able claim record death even think social security figured need look recent law changes make sure plans retirement still work brian feroldi maximizing social security payout goal critical firm grasp formula used tabulate benefits social security benefits calculated based lifetime earnings history agency slightly tweak data figuring much owed advertisement first ssa indexes wages bring nearcurrent levels helps ensure workers benefits account standard living increase occurred career next workers highest 35 years earnings averaged together ssa applies formula total pops primary insurance amount benefit worker would receive choose start receiving checks full retirement age formula mind one smart way ensure benefits high possible make sure least 35 working years record working history less 35 years agency use 0 calculation year short put lot downward pressure average reduce benefits run calculation find year two short staying work force reach 35 year target certainly give benefit check big boost selena maranjian one guaranteed way boost social security benefits delay starting collect start receiving payments early age 62 theyll smaller would started full retirement age one youll receive full benefits also opt start collecting late age 70 every year beyond full retirement age delay benefits increase value 8 age 70 delay 67 70 make checks fully 24 bigger thats pretty powerful expecting collect 2000 per month 24000 per year instead receive 2480 per month nearly 30000 annually slamdunk move though social security administration explained live average life expectancy someone age receive amount lifetime benefits matter whether choose start receiving benefits age 62 full retirement age age 70 age remember example might end 2480 monthly checks would given three years worth 2000 checks order achieve thats 36 times 2000 72000 afford delay starting collect though well worth expect live long time instance youll come ahead everyone afford wait though know starting time even early isnt financially damaging might seem article 3 ways americans maximize social security benefits originally appeared foolcom brian feroldi position stocks mentionedlike article follow ontwitter goes handle longtermmindsetor connect linkedin see articles like thistry foolish newsletter services free 30 days fools may hold opinions believe considering diverse range insights makes us better investors motley fool disclosure policy copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy | 521 |
<p>Monopolies can be bad. Having a single company control every aspect of an entire industry is likely to lead to higher consumer prices, slower innovation, and anticompetitive behavior.</p>
<p>Lucky for us, true monopolies are rare and the business conditions in a&#160;near-monopoly often trigger lots of healthy competition and fresh thinking. And either way, both industry-dominating businesses and true monopolists are fantastically profitable.</p>
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<p>That's why we asked a handful of investors here at The Motley Fool if they had seen any monopoly stocks in today's market. Read on to see how they dug up&#160;Intuitive Surgical&#160;(NASDAQ: ISRG),&#160;LendingTree&#160;(NASDAQ: TREE), and&#160;Canadian National Railway (NYSE: CNI).</p>
<p><a href="http://my.fool.com/profile/TMFSigma/activity.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Demitri Kalogeropoulos Opens a New Window.</a> (LendingTree): LendingTree is an overnight success that was just 19 years in the making. Since launching in 1998, it has survived both the tech bubble collapse and the housing market crisis to emerge as the leading platform connecting consumers seeking loans with banks that have excess cash to lend.</p>
<p>Until recently, those credit instruments were mainly mortgage related. But LendingTree's expansion into unsecured debt such as auto, credit card, and personal loans has helped spark big sales gains. Revenue is up 61% over the last nine months as an 81% spike in the non-mortgage segment pushed it up to 57% of the business from 43% in last year's third quarter. LendingTree's diversification strategy is giving it a far broader customer base, and that includes the 6.5 million users it has added just since launching its credit score platform in mid-2014.</p>
<p>Meanwhile, the core business continues to deliver market share gains as consumers move their mortgage shopping online. Its purchase and refinancing revenues rose 38% last quarter despite a 16% contraction in the broader industry.</p>
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<p>Investors are being asked to pay up for all of that operating success. LendingTree's P/E ratio is now well over 100, after all, and the stock has nearly tripled in 2017. To earn that premium, this Wall Street favorite will need to keep posting improvements across its debt offerings and deliver accelerating sales and profitability gains in 2018.</p>
<p><a href="http://my.fool.com/profile/TMFDirtyBird/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Tyler Crowe Opens a New Window.</a>&#160;(Canadian National Railway):&#160;Railways have several things working in their favor that give them monopoly characteristics. The first and most obvious&#160;is cost. Rail is by far the most efficient method to move goods over long land distances. Revenue per ton-mile via rail is one quarter that of via truck, and less than 5% that of via air carrier. That makes rail the method of choice for any bulk item or long-distance shipping in North America. Then, there is the geographic monopoly rail companies enjoy. There are large swaths of North America that are serviced by only one or two railway companies, which gives those railways an established customer base with little to no competition.</p>
<p>When you think about railways in North America, though, growth probably doesn't come up much. If you look at Canadian National Railway's earnings-per-share growth, though, you might reconsider your position. Over the past decade, the company has only grown revenue by 33%. Nothing to write home about.</p>
<p>However, that monopoly position means&#160; <a href="https://www.fool.com/investing/2017/10/25/ignore-the-headlines-canadian-national-railway-is.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">the company throws off incredible amounts of free cash flow Opens a New Window.</a> that management has consistently used to pay dividends and buy back shares. Management has brought back enough stock such that earnings per share has grown 91% over that time period.</p>
<p>Canadian National's revenue or <a href="https://www.fool.com/investing/2017/10/25/ignore-the-headlines-canadian-national-railway-is.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">net income growth over a year or so Opens a New Window.</a> is never going to knock an investor's socks off. Over time, though, the company's modest organic growth coupled with persistent reductions in shares outstanding is an incredible recipe for generating returns over the long haul that is the recipe for generating investor wealth.</p>
<p><a href="https://www.fool.com/author/1484/index.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Anders Bylund Opens a New Window.</a> (Intuitive Surgical): Monopolies are rare these days. Pretty much any viable business quickly finds plenty of competition. In my eyes, the closest thing to an actual monopoly today is the da Vinci robotic surgery system and its inventor, Intuitive Surgical. It's the only medical stock I own; let me tell you why.</p>
<p>For years, Intuitive defended its unique surgery system through aggressive patent claims and a tendency to buy out potential rivals before they posed a serious threat. That stage segued into a few years of quiet growth, where the competition acted as if robotic surgery wasn't a thing and shouldn't be given any attention. Now, Intuitive has proven its mettle and is bracing for a fresh influx of surgical robotics innovation.</p>
<p>In the words of Intuitive Surgical's management, this is a natural evolution of the market.</p>
<p>"After initially dismissing the power of computation and robotics in surgery, some large and small companies have pledged their entry into the field," the company stated in its 2016 annual report. "Additional competition into these markets is inevitable and validates the pioneering work we have led for years. We anticipated this increase in competitive activity and do not take it lightly."</p>
<p>The list of new names in Intuitive Surgical's chosen area of expertise is a who's-who of the medical and technology sectors. However, Intuitive Surgical has grown into a large-cap titan of industry itself, perfectly capable of fighting back through innovation and smart spending. For instance, the company has put together a brand-new flexible surgery platform that's made for hard-to-reach parts of the human body, and that system is winding its way toward FDA approvals.</p>
<p>In the last three years, Intuitive Surgical's free cash flows have grown 64% larger, while annual sales increased by 40%. Stock prices more than doubled over the same period. And the company's minimally invasive surgery systems should see more use, more demand, and more sales over the next couple of decades. Baby boomers aren't getting any younger, and more than 15% of the American population has passed their 65th birthdays.</p>
<p>So, we're looking at almost guaranteed business growth for the long haul, protected by a near-monopolistic combination of technology patents and continuing innovation.</p>
<p><a href="https://www.fool.com/investing/2017/11/30/will-2018-be-intuitive-surgical-incs-best-year-yet.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">This robotic growth story is only just getting started. Opens a New Window.</a></p>
<p>10 stocks we like even better than Intuitive SurgicalWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=904adf44-a051-44a7-812b-bbced6a0ff0b&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Intuitive Surgical wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=904adf44-a051-44a7-812b-bbced6a0ff0b&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of December 4, 2017</p>
<p><a href="http://my.fool.com/profile/TMFZahrim/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Anders Bylund Opens a New Window.</a> owns shares of Intuitive Surgical. <a href="http://my.fool.com/profile/TMFSigma/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Demitrios Kalogeropoulos Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/TMFDirtyBird/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">Tyler Crowe Opens a New Window.</a> owns shares of Canadian National Railway. The Motley Fool owns shares of and recommends Canadian National Railway and Intuitive Surgical. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=5eb7c3ce-d9fd-11e7-981e-0050569d4be0&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | monopolies bad single company control every aspect entire industry likely lead higher consumer prices slower innovation anticompetitive behavior lucky us true monopolies rare business conditions a160nearmonopoly often trigger lots healthy competition fresh thinking either way industrydominating businesses true monopolists fantastically profitable continue reading thats asked handful investors motley fool seen monopoly stocks todays market read see dug up160intuitive surgical160nasdaq isrg160lendingtree160nasdaq tree and160canadian national railway nyse cni demitri kalogeropoulos opens new window lendingtree lendingtree overnight success 19 years making since launching 1998 survived tech bubble collapse housing market crisis emerge leading platform connecting consumers seeking loans banks excess cash lend recently credit instruments mainly mortgage related lendingtrees expansion unsecured debt auto credit card personal loans helped spark big sales gains revenue 61 last nine months 81 spike nonmortgage segment pushed 57 business 43 last years third quarter lendingtrees diversification strategy giving far broader customer base includes 65 million users added since launching credit score platform mid2014 meanwhile core business continues deliver market share gains consumers move mortgage shopping online purchase refinancing revenues rose 38 last quarter despite 16 contraction broader industry advertisement investors asked pay operating success lendingtrees pe ratio well 100 stock nearly tripled 2017 earn premium wall street favorite need keep posting improvements across debt offerings deliver accelerating sales profitability gains 2018 tyler crowe opens new window160canadian national railway160railways several things working favor give monopoly characteristics first obvious160is cost rail far efficient method move goods long land distances revenue per tonmile via rail one quarter via truck less 5 via air carrier makes rail method choice bulk item longdistance shipping north america geographic monopoly rail companies enjoy large swaths north america serviced one two railway companies gives railways established customer base little competition think railways north america though growth probably doesnt come much look canadian national railways earningspershare growth though might reconsider position past decade company grown revenue 33 nothing write home however monopoly position means160 company throws incredible amounts free cash flow opens new window management consistently used pay dividends buy back shares management brought back enough stock earnings per share grown 91 time period canadian nationals revenue net income growth year opens new window never going knock investors socks time though companys modest organic growth coupled persistent reductions shares outstanding incredible recipe generating returns long haul recipe generating investor wealth anders bylund opens new window intuitive surgical monopolies rare days pretty much viable business quickly finds plenty competition eyes closest thing actual monopoly today da vinci robotic surgery system inventor intuitive surgical medical stock let tell years intuitive defended unique surgery system aggressive patent claims tendency buy potential rivals posed serious threat stage segued years quiet growth competition acted robotic surgery wasnt thing shouldnt given attention intuitive proven mettle bracing fresh influx surgical robotics innovation words intuitive surgicals management natural evolution market initially dismissing power computation robotics surgery large small companies pledged entry field company stated 2016 annual report additional competition markets inevitable validates pioneering work led years anticipated increase competitive activity take lightly list new names intuitive surgicals chosen area expertise whoswho medical technology sectors however intuitive surgical grown largecap titan industry perfectly capable fighting back innovation smart spending instance company put together brandnew flexible surgery platform thats made hardtoreach parts human body system winding way toward fda approvals last three years intuitive surgicals free cash flows grown 64 larger annual sales increased 40 stock prices doubled period companys minimally invasive surgery systems see use demand sales next couple decades baby boomers arent getting younger 15 american population passed 65th birthdays looking almost guaranteed business growth long haul protected nearmonopolistic combination technology patents continuing innovation robotic growth story getting started opens new window 10 stocks like even better intuitive surgicalwhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right intuitive surgical wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns december 4 2017 anders bylund opens new window owns shares intuitive surgical demitrios kalogeropoulos opens new window position stocks mentioned tyler crowe opens new window owns shares canadian national railway motley fool owns shares recommends canadian national railway intuitive surgical motley fool disclosure policy opens new window | 713 |
<p>On Sept. 11, 2012, riots erupted in Egypt, Libya and now Yemen, ostensibly over what the media call an anti-Muslim Youtube video made in America. In Bengazi, <a href="http://www.reuters.com/article/2012/09/13/us-protests-idUSBRE88C0J320120913" type="external">militants murdered the United States ambassador to Libya and three U.S. diplomats</a>.</p>
<p>American blood was shed and mobs of Muslims continue to burn American flags and chant “ <a href="http://www.breitbart.com/Breitbart-TV/2012/09/13/Death-To-America-Crowd-Storm-US-Embassy-in-Yemen-Torch-US-Flag--Vehicles" type="external">Death to America!”</a> around multiple U.S. consulates. It’s a scene that’s played out on almost a regular basis. A media story (about flushing Korans or other slights to Islam real or imagined) provides some pretext and the “Arab Street” explodes with raging mobs. The ambassador’s death is what sets the current situation apart.</p>
<p>In each case the establishment media is quick to tell audiences the violence isn’t representative of Islam, and to explain how sensitive Muslims are about symbols of their religion. Eager to find moderate Muslims, reporters seldom look into the statements of Imams or fact-check the claims of Islamic organizations.</p>
<p>Instead, acts of Islamist violence are met with hand-wringing about fragile “diversity,” and backlash, the New York Times did earlier this year with a jihadi massacre of French children. Reports ignore the terrorist designations of militant groups like Boko Haram and fawn over supposedly moderate Islamic religious leaders who end up as leaders of Al Qaeda</p>
<p>Now that a U.S. ambassador has been killed and U.S. assets in the Middle East attacked, it would be a good time for reporters to start reporting the facts about Islamist violence. But their track record doesn’t give much hope. And so far, liberal journalists are playing true to type.</p>
<p>Mike Barnicle from MSNBC suggested on the Sept.r 12 “Morning Joe” that American pastor Terry Jones be prosecuted for Ambassador Stevens’s death at the hands of Libyan extremists. Jones supported the so-called “anti-Islamic” move that sparked the riots. Fellow Morning Joe panelist Donny Deustch said he “thought the same thing” as Barnicle.</p>
<p>And merely one day after the Libya tragedy ABC journalist Christiane Amanpour blamed extremists in America for “whipping up hatred” and called the media proclaimed anti-Islamic movie a “deliberate provocation.”</p>
<p>Hope Springs Eternal</p>
<p>The media desire to explain away or change the subject from Islamist violence is almost pathological.</p>
<p>On March 27, 2012 New York Times reporter Scott Sayare <a href="" type="internal">focused on Muslims as “victims”</a> after a professed Jihadi killed seven children in France.</p>
<p>“Sayare focused not on the victims, which include Jewish children, or what the killing signifies about Islamic integration into French society -- only the fear that the killings would foster ethnic "tensions" against Muslims,” MRC’s TimesWatch wrote.</p>
<p>Often, journalists refuse to acknowledge the avowed terrorist ideology of the perpetrators. For example, Boko Haram is a Nigerian “Muslim sect that seeks to abolish the secular system of government and establish sharia law in the country.” In June the group bombed several churches in Nigeria.</p>
<p>In a June 17 article about the bombings both the <a href="http://newsbusters.org/blogs/tom-blumer/2012/06/17/nigerian-violence-ap-reuters-wont-label-boko-haram-muslim-terrorist-grou" type="external">Associated Press and Reuters failed to name Boko Haram</a> as a terrorist group, instead opting to label the group as “attackers” and “militants.”</p>
<p>Such anti-Christian violence is too common in the Muslim world, but journalists rarely call it what it is. Masses of peaceful Arab Spring Christians were <a href="http://www.breitbart.com/Big-Peace/2011/10/10/Arab-Spring-Christians-Massacred-In-Cairo" type="external">massacred in Cairo</a> by the Egyptian Army last year. Media reporting rarely linked such incidents to Islam.</p>
<p>The assurances of explicitly militant groups like the Muslim Brotherhood – now the governing party in Egypt that allowed the attack on the Cairo embassy – are reported at face value. Journalists still hold out hope that the Arab Spring will thaw more than latent Islamist violence, and they’re reluctant to part with nostalgia about it. In October 2011 NBC’s Chris Jansing <a href="" type="internal">featured</a> a man who pronounced Occupy Wall Street to be “America’s Arab Spring.”</p>
<p>The network’s Ann Curry even <a href="" type="internal">asked</a> on December 14, 2011, “Are there links between what had happened in the Arab Spring and also what's happening now on Wall Street and all across this country?"</p>
<p>Even in the face of horrible evil, journalists looked for ways to change the subject from Islamic violence. In 2011 CBS’s <a href="http://newsbusters.org/blogs/noel-sheppard/2011/02/21/daily-mail-lara-logan-stripped-punched-and-whipped-flag-poles" type="external">Lara Logan was raped and beaten by a crowd in Cairo’s Tahir Square while she reported on Hosni Mubarak’s resignation.</a></p>
<p>Brotherly Love</p>
<p>The media declared the Muslim Brotherhood to be "relatively peaceful," "non-violent" and responsible for "charitable works," concluded a <a href="" type="internal">CMI report</a>.</p>
<p>“For more than 17 years, since the 1993 bombing of the World Trade Center, the news programming on ABC, CBS, and NBC have treated the Muslim Brotherhood with kid gloves, giving the radical Islamic group a passing mention here or there, but hardly ever exploring on air its fundamentalist religious connections and extreme ideology. “</p>
<p>NBC’s Richard Engel reported the Muslim Brotherhood was “ <a href="" type="internal">not al-Qaeda and not the Taliban</a>” and they were “much more similar to Hamas.” Engel must have forgotten Hamas is a known terrorist group that likes to lob rockets into Israeli neighborhoods.</p>
<p>Similarly, The New York Times <a href="" type="internal">buried facts</a> that the Muslim Brotherhood is an ally of Hamas.</p>
<p>Despite clear association with terrorist cells, the Muslim Brotherhood maintains a friendship with President Obama. The <a href="http://www.breitbart.com/Big-Peace/2012/06/24/Obama-s-Arab-Spring-Was-Not-Based-On-Reality" type="external">president extended official invitations</a> to Muslim Brotherhood members to attend his speech in Cairo in 2009.</p>
<p>And he’s extended an invitation for an official visit from Egyptian president Mori, the Muslim Brotherhood candidate in the country’s recent elections.</p>
<p>America’s Fault</p>
<p>Christiane Amanpour is not the first reporter to excoriate Americans for being outraged over Islamist violence. According to the mainstream media America views Muslims too harshly, and reporters howl that America is overrun with “Islamophobia.”</p>
<p>On the same day the U.S. embassies were attacked, Salon.com accused FoxNews of being at the “at the heart of the public scare-mongering about Islam and that [the network] has become the home for a slew of right-wing activists who regularly inhabit its airwaves to distort the truth to push stereotypes about Muslims.”</p>
<p>In 2009, after Nidal Hasan, the U.S. Army major and self-described “soldier of Islam” fired more than 100 rounds into a Ft. Hood military processing center, Foreign Policy magazine declared the <a href="http://newsbusters.org/blogs/carolyn-plocher/2009/11/20/foreign-policy-magazine-ft-hood-happened-because-muslims-aren-t-com" type="external">Ft. Hood tragedy happened because Muslims weren’t comfortable</a>.</p>
<p>As CMI reported at the time, “According to [authors] Simon and Stevenson, Major Nidal Malik Hasan was simply another American Muslim that was the victim of ‘innumerable stresses, including discrimination and the strain of divided loyalties in their country's eight-year-long war against Muslims in the Middle East and Central Asia.’"</p>
<p>The New York Times claimed the FBI <a href="" type="internal">“sowed anger and fear among Muslims”</a> in the wake of Hasan’s attack.</p>
<p>And the assertions of Islamophobia aren’t just reactive. In 2008, ABC <a href="http://newsbusters.org/blogs/warner-todd-huston/2008/02/27/abc-fakes-muslim-prejudice-unsurprisingly-finds-islamophobia-ame" type="external">lied and distorted American views on Islam</a> in a fake documentary titled, “Witness to Discrimination: What Would You Do?” The network pretended all Americans hated Muslims and decided to create their own “prejudice.”</p>
<p>ABC hired “an actress to put on Muslim dress and get ‘confronted’ by a Muslim hating coffee store server -- also an actor hired by ABC. Then, they rolled the cameras, opened the doors to the public and, viola, ABC "found" prejudice in America.”</p>
<p>Even worse, the entire charade was staged at the request of the Council on American Islamic Relations (CAIR). The media <a href="" type="internal">frequently goes to bat for CAIR</a>, an organization which touted the Ground Zero Mosque, and raged about Islamic discrimination in America.</p>
<p>Looking for Imam GoodBar</p>
<p>Before and, especially, after the 9/11 attacks in 2001, the media were desperate to find and highlight moderate Muslims. A favorite in those days was <a href="" type="internal">American-born Anwar al-Awlaki</a>, who preached at a Northern Virginia mosque. NPR, The Washington Post and The Baltimore Sun were among those to hold up the imam “as a new generation of Muslim leader capable of merging East and West,” in The New York Times’ formulation.</p>
<p>In Nov. 2001, just two months after the 9/11 attacks, the Post did a <a href="http://www.washingtonpost.com/world/national-security/post-archive-2001-profile-of-anwar-al-aulaqi/2011/09/30/gIQAKDDi9K_video.html?hpid=z1" type="external">video profile</a> of Al Awlaki and hosted him in an on-line Q &amp; A session with readers.</p>
<p>The media celebrated imam Anwar Al Awlaki as a “bridge-builder” between the West and Islam. A U.S. drone attack killed Awlaki last year in Yemen, where he was an Al Qaeda chieftain.</p>
<p>By 2009, Al-Awlaki was the head of Al Qaeda in Yemen, and played some part in <a href="http://www.meforum.org/2649/anwar-al-awlaki-pray-allah-destroys-america" type="external">radicalizing Major Hasan</a>. Al-Awlaki praised Hasan for the Ft. Hood massacre and called him a “hero.” By 2011, Al-Awlaki was the first U.S. citizen ever killed by executive order.</p>
<p>Many of the same outlets fooled by Al-Awlaki’s pose as a moderate went to bat for another imam in 2011. Imam Feisal Abdul Rauf, the man behind the proposed “Ground Zero Mosque,” was painted in nearly identical terms to Al-Awlaki, despite having called for Islamic shariah law in the U.S.</p>
<p>Apologists Not Accepted</p>
<p>For a variety of reasons, most of them having to do with its not being a product of Western Civilization, lefties are smitten with Islam, and are happy to paint a pretty picture around a religion that approves of <a href="http://www.foxnews.com/world/2012/08/03/parents-found-guilty-murdering-daughter-in-uk722265/" type="external">killing females for disobedience</a>, and protect its followers from the slightest “offense” with bloody outrage. <a href="http://www.foxnews.com/world/2012/08/03/parents-found-guilty-murdering-daughter-in-uk722265/" type="external">It continues</a> even after the death of a U.S. official.</p>
<p>The media’s deference to and defense of radical Islam is inexcusable, and deadly.</p> | true | 0 | sept 11 2012 riots erupted egypt libya yemen ostensibly media call antimuslim youtube video made america bengazi militants murdered united states ambassador libya three us diplomats american blood shed mobs muslims continue burn american flags chant death america around multiple us consulates scene thats played almost regular basis media story flushing korans slights islam real imagined provides pretext arab street explodes raging mobs ambassadors death sets current situation apart case establishment media quick tell audiences violence isnt representative islam explain sensitive muslims symbols religion eager find moderate muslims reporters seldom look statements imams factcheck claims islamic organizations instead acts islamist violence met handwringing fragile diversity backlash new york times earlier year jihadi massacre french children reports ignore terrorist designations militant groups like boko haram fawn supposedly moderate islamic religious leaders end leaders al qaeda us ambassador killed us assets middle east attacked would good time reporters start reporting facts islamist violence track record doesnt give much hope far liberal journalists playing true type mike barnicle msnbc suggested septr 12 morning joe american pastor terry jones prosecuted ambassador stevenss death hands libyan extremists jones supported socalled antiislamic move sparked riots fellow morning joe panelist donny deustch said thought thing barnicle merely one day libya tragedy abc journalist christiane amanpour blamed extremists america whipping hatred called media proclaimed antiislamic movie deliberate provocation hope springs eternal media desire explain away change subject islamist violence almost pathological march 27 2012 new york times reporter scott sayare focused muslims victims professed jihadi killed seven children france sayare focused victims include jewish children killing signifies islamic integration french society fear killings would foster ethnic tensions muslims mrcs timeswatch wrote often journalists refuse acknowledge avowed terrorist ideology perpetrators example boko haram nigerian muslim sect seeks abolish secular system government establish sharia law country june group bombed several churches nigeria june 17 article bombings associated press reuters failed name boko haram terrorist group instead opting label group attackers militants antichristian violence common muslim world journalists rarely call masses peaceful arab spring christians massacred cairo egyptian army last year media reporting rarely linked incidents islam assurances explicitly militant groups like muslim brotherhood governing party egypt allowed attack cairo embassy reported face value journalists still hold hope arab spring thaw latent islamist violence theyre reluctant part nostalgia october 2011 nbcs chris jansing featured man pronounced occupy wall street americas arab spring networks ann curry even asked december 14 2011 links happened arab spring also whats happening wall street across country even face horrible evil journalists looked ways change subject islamic violence 2011 cbss lara logan raped beaten crowd cairos tahir square reported hosni mubaraks resignation brotherly love media declared muslim brotherhood relatively peaceful nonviolent responsible charitable works concluded cmi report 17 years since 1993 bombing world trade center news programming abc cbs nbc treated muslim brotherhood kid gloves giving radical islamic group passing mention hardly ever exploring air fundamentalist religious connections extreme ideology nbcs richard engel reported muslim brotherhood alqaeda taliban much similar hamas engel must forgotten hamas known terrorist group likes lob rockets israeli neighborhoods similarly new york times buried facts muslim brotherhood ally hamas despite clear association terrorist cells muslim brotherhood maintains friendship president obama president extended official invitations muslim brotherhood members attend speech cairo 2009 hes extended invitation official visit egyptian president mori muslim brotherhood candidate countrys recent elections americas fault christiane amanpour first reporter excoriate americans outraged islamist violence according mainstream media america views muslims harshly reporters howl america overrun islamophobia day us embassies attacked saloncom accused foxnews heart public scaremongering islam network become home slew rightwing activists regularly inhabit airwaves distort truth push stereotypes muslims 2009 nidal hasan us army major selfdescribed soldier islam fired 100 rounds ft hood military processing center foreign policy magazine declared ft hood tragedy happened muslims werent comfortable cmi reported time according authors simon stevenson major nidal malik hasan simply another american muslim victim innumerable stresses including discrimination strain divided loyalties countrys eightyearlong war muslims middle east central asia new york times claimed fbi sowed anger fear among muslims wake hasans attack assertions islamophobia arent reactive 2008 abc lied distorted american views islam fake documentary titled witness discrimination would network pretended americans hated muslims decided create prejudice abc hired actress put muslim dress get confronted muslim hating coffee store server also actor hired abc rolled cameras opened doors public viola abc found prejudice america even worse entire charade staged request council american islamic relations cair media frequently goes bat cair organization touted ground zero mosque raged islamic discrimination america looking imam goodbar especially 911 attacks 2001 media desperate find highlight moderate muslims favorite days americanborn anwar alawlaki preached northern virginia mosque npr washington post baltimore sun among hold imam new generation muslim leader capable merging east west new york times formulation nov 2001 two months 911 attacks post video profile al awlaki hosted online q amp session readers media celebrated imam anwar al awlaki bridgebuilder west islam us drone attack killed awlaki last year yemen al qaeda chieftain 2009 alawlaki head al qaeda yemen played part radicalizing major hasan alawlaki praised hasan ft hood massacre called hero 2011 alawlaki first us citizen ever killed executive order many outlets fooled alawlakis pose moderate went bat another imam 2011 imam feisal abdul rauf man behind proposed ground zero mosque painted nearly identical terms alawlaki despite called islamic shariah law us apologists accepted variety reasons product western civilization lefties smitten islam happy paint pretty picture around religion approves killing females disobedience protect followers slightest offense bloody outrage continues even death us official medias deference defense radical islam inexcusable deadly | 926 |
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<p>If part of your income comes from investments, New Year’s Eve could usher in something much more significant than the start of 2011: a lower standard of living. Like Cinderella’s coach, when the clock strikes midnight, the tax rates we’ve been paying on dividends and capital gains for the past seven years vanish.&#160; In their place will be…. Well, we really don’t know.</p>
<p>Continue Reading Below</p>
<p>Welcome to Congressional gridlock and party politics.</p>
<p>The story begins in 2003.&#160; Americans were still shell-shocked from the September 11, 2001 terrorist attacks. In an effort to grease the economic engine, the Republican majority in Congress passed the Jobs and Growth Tax Relief Reconciliation Act. The main goals of “JGTRRA:” to encourage spending and investing by businesses and individuals and to boost job creation.</p>
<p>The incentive for individuals?&#160; A 25% reduction in the top capital gains tax rate - from 20% to 15%.&#160; Those in the two lowest income tax brackets (10% &amp; 15%) would see their rate cut in half- from 10% to 5%.&#160; Furthermore, the Act provided that in 2008, the long-term capital gains tax rate for lower-income taxpayers would disappear.&#160; That is, these folks would keep every penny they made from selling such things as stocks, bonds, mutual funds, and <a href="" type="internal">real estate</a> (including a personal residence) - provided they owned the asset for at least one year.</p>
<p>What’s more, those who chose to invest money - as opposed to parking it in a bank account - would also get a tax break: dividends on “qualified” stocks would no longer be taxed at the same rate as ordinary income - potentially as high as 35%.&#160; Instead, they would be subject to the exact same tax schedule as long-term capital gains.&#160; This meant that in 2008, individuals in the two lowest brackets would pay zero tax on their dividends.</p>
<p>Another tax law enacted in 2006 extended the lower rates (0-15%) on capital gains and dividends through this year. However, unless Congress can agree on a “fix” before December 31st, these and other so-called “Bush” tax cuts - including lower rates on ordinary income - will expire.&#160; At that point, the tax rates in effect prior to their passage will again become law.&#160; Retirees who rely on investment income could be in for a shock. Taxpayers in the 10% and 15% brackets aren’t paying any tax on dividends and long-term capital gains right now.&#160; If their rate goes back up to 10% “that’s a significant hike,” says CPA Melissa Labant, a tax expert at the American Institute of Certified Public Accountants.</p>
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<p><a href="" type="internal">President Obama</a> and congressional Democrats have proposed increasing dividend and capital taxes only for "The Rich," defined as those in the top two income tax brackets.&#160; The rate for these individuals would increase to 20%. (To see what income tax rates would look like, under these two scenarios please see <a href="" type="internal">last week’s column</a>.) However, with mid-term elections coming up, it’s anyone’s guess whether Congress will have the guts or the votes to enact any legislation raising taxes.&#160; The problem is that tax planning is impossible when the rules are in limbo.</p>
<p>The uncertainty does not just pertain to income, capital gains, and dividend tax rates.&#160; “There are so many moving parts,” says Labant. The status of the <a href="" type="internal">Alternative Minimum Tax</a> is also up-in-the-air.&#160; As she points out, “The AMT is a big factor when deciding whether to accelerate or defer income.”&#160; In addition, she warns that, for higher-income taxpayers, “itemized deductions are going to vanish [in 2011].&#160; Instead of a 100% deduction, you’ll get a maximum of 20%.”</p>
<p>For Gerald Prante, chief economist with the non-partisan <a href="http://www.taxfoundation.org" type="external">Tax Foundation Opens a New Window.</a>, “it’s an issue of double-taxation.&#160; Dividends are already taxed at the corporate level. Then, when they’re distributed, they’re taxed at the individual rate… We’re raising the most tax-advantaged form” for companies to raise capital.</p>
<p>In addition, he says the problem is being compounded by increasing the tax on capital gains. “This raises the cost of capital over the long-term and lowers living standards.” Companies looking to borrow money have to pay a higher interest rate to compensate lenders - including individuals - for their reduced return.&#160; As a result, businesses have less money to invest in new plant and equipment.&#160; According to Prante, over the long term “workers become less productive.&#160; It lowers wages.”</p>
<p>To top it off, in 2013 when the <a href="" type="internal">Medicare</a> surtax kicks in, upper-income individuals will see the potential tax they’ll pay on dividends and capital gains jump 19% (from 20% to 23.8%).&#160; This will make dividend-paying stocks even less attractive as an investments.&#160; “Dividends from corporations will decline,” predicts Prante.&#160; “Corporations are sensitive to how their shareholders are taxed.&#160; They’ll distribute profits in other ways.”</p>
<p>What’s an investor to do?&#160; Labant recommends you “reach out to your tax preparer in November instead of February or March. Have them do a projection,” comparing different tax scenarios to see what strategies make the most sense for your situation so you can act before the end of this year.&#160; “The costs are [minimal] compared to the potential tax savings,” she says.&#160; For instance, instead of the usual advice to accelerate deductions into the current year and postpone income into next year, higher tax rates in 2011 might call for doing the exact opposite.</p>
<p>Next week: The estate tax: To be, or not to be?</p>
<p>After the Congressional elections are over we’ll have a better sense of what tax policies might look like.</p>
<p>Ms. Buckner is a Retirement and Financial Planning Specialist at Franklin Templeton Investments. The views expressed in this article are only those of Ms. Buckner or the individual commentator identified therein, and are not necessarily the views of Franklin Templeton Investments, which has not reviewed, and is not responsible for, the content.&#160;</p>
<p>If you have a question for Gail Buckner and the Your $ Matters column, send them to: [email protected], along with your name and phone number.</p> | true | 0 | part income comes investments new years eve could usher something much significant start 2011 lower standard living like cinderellas coach clock strikes midnight tax rates weve paying dividends capital gains past seven years vanish160 place well really dont know continue reading welcome congressional gridlock party politics story begins 2003160 americans still shellshocked september 11 2001 terrorist attacks effort grease economic engine republican majority congress passed jobs growth tax relief reconciliation act main goals jgtrra encourage spending investing businesses individuals boost job creation incentive individuals160 25 reduction top capital gains tax rate 20 15160 two lowest income tax brackets 10 amp 15 would see rate cut half 10 5160 furthermore act provided 2008 longterm capital gains tax rate lowerincome taxpayers would disappear160 folks would keep every penny made selling things stocks bonds mutual funds real estate including personal residence provided owned asset least one year whats chose invest money opposed parking bank account would also get tax break dividends qualified stocks would longer taxed rate ordinary income potentially high 35160 instead would subject exact tax schedule longterm capital gains160 meant 2008 individuals two lowest brackets would pay zero tax dividends another tax law enacted 2006 extended lower rates 015 capital gains dividends year however unless congress agree fix december 31st socalled bush tax cuts including lower rates ordinary income expire160 point tax rates effect prior passage become law160 retirees rely investment income could shock taxpayers 10 15 brackets arent paying tax dividends longterm capital gains right now160 rate goes back 10 thats significant hike says cpa melissa labant tax expert american institute certified public accountants advertisement president obama congressional democrats proposed increasing dividend capital taxes rich defined top two income tax brackets160 rate individuals would increase 20 see income tax rates would look like two scenarios please see last weeks column however midterm elections coming anyones guess whether congress guts votes enact legislation raising taxes160 problem tax planning impossible rules limbo uncertainty pertain income capital gains dividend tax rates160 many moving parts says labant status alternative minimum tax also upintheair160 points amt big factor deciding whether accelerate defer income160 addition warns higherincome taxpayers itemized deductions going vanish 2011160 instead 100 deduction youll get maximum 20 gerald prante chief economist nonpartisan tax foundation opens new window issue doubletaxation160 dividends already taxed corporate level theyre distributed theyre taxed individual rate raising taxadvantaged form companies raise capital addition says problem compounded increasing tax capital gains raises cost capital longterm lowers living standards companies looking borrow money pay higher interest rate compensate lenders including individuals reduced return160 result businesses less money invest new plant equipment160 according prante long term workers become less productive160 lowers wages top 2013 medicare surtax kicks upperincome individuals see potential tax theyll pay dividends capital gains jump 19 20 238160 make dividendpaying stocks even less attractive investments160 dividends corporations decline predicts prante160 corporations sensitive shareholders taxed160 theyll distribute profits ways whats investor do160 labant recommends reach tax preparer november instead february march projection comparing different tax scenarios see strategies make sense situation act end year160 costs minimal compared potential tax savings says160 instance instead usual advice accelerate deductions current year postpone income next year higher tax rates 2011 might call exact opposite next week estate tax congressional elections well better sense tax policies might look like ms buckner retirement financial planning specialist franklin templeton investments views expressed article ms buckner individual commentator identified therein necessarily views franklin templeton investments reviewed responsible content160 question gail buckner matters column send yourmoneymattersgmailcom along name phone number | 582 |
<p>The Bangkok billionaire family that co-founded Red Bull, the world's leading energy drink, uses offshore companies to cloak purchases of jets and luxury properties, including the posh London home where the clan's fugitive son was last seen.</p>
<p>The Yoovidhya family's efforts to hide assets show how easily major global financial players can routinely — and, usually, legally — move billions of dollars with little or no oversight.</p>
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<p>The family's confidential deals were inadvertently exposed by the jet-setting son Vorayuth "Boss" Yoovidhya, who attracted cries of impunity after repeatedly failing to show up in court for allegedly racing away in his Ferrari after slamming into a motorcycle cop in a deadly hit-and-run in Bangkok. More than 120 Instagram and Facebook postings by friends and family led The Associated Press earlier this year to the Yoovidhyas' London vacation home, where Vorayuth refused to comment.</p>
<p>Thai authorities revoked his passport and issued an arrest warrant, but say they don't know where he is.</p>
<p>Now the investigation into Vorayuth's whereabouts has led to the Panama Papers, a collection of 11 million secret financial documents that illustrate how the world's wealthiest families hide their money. Yoovidhya family financial arrangements are outlined in those records.</p>
<p>The Panama Papers leak was first obtained by the German newspaper Sudeutsche Zeitung and shared with the International Consortium of Investigative Journalists, which began publishing collaborative reports with news organizations in 2016, putting wealthy and powerful people in more than 70 countries under scrutiny.</p>
<p>Since then, political leaders have been thrown out of office, including Pakistan's prime minister, Nawaz Sharif, who was kicked out just last month after being accused of concealing assets exposed in the leak. Overall, an estimated $135 billion was wiped off the value of nearly 400 companies, and governments and the European Commission began cracking down on offshore tax havens. The reports won a 2017 Pulitzer Prize.</p>
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<p>Founders of the Panamanian law firm Mossack Fonseca, which owned the leaked documents, were charged earlier this year with money-laundering.</p>
<p>The Yoovidhya family's network of offshore companies — set up by Mossack Fonseca — was so complex that, until now, they managed to keep the family name and Red Bull brand out of the spotlight. But the Panama Papers shared with the AP show the family has used at least a half-dozen offshore, anonymous companies in tax havens for more than two decades.</p>
<p>The Yoovidhyas, who share ownership of Red Bull with Austrian Dietrich Mateschitz, did not respond to repeated requests — faxed, telephoned and hand-delivered — for comment. Red Bull said in a statement that Vorayuth's legal situation "is not a matter for Red Bull and only concerns the Yoovidhya family." A spokesman also said that, as a private company, Red Bull doesn't speak publicly about financial and commercial matters.</p>
<p>Experts agree that tax avoidance manuevers involving offshore companies are permissible and ubiquitous worldwide, including among many of Thailand's richest families. Shell companies can facilitate shared ownership between different countries.</p>
<p>There's no indication the Yoovidhya family's accounts violated any laws, but the extremely confidential deals also can be used to evade taxes or launder money.</p>
<p>___</p>
<p>Days after the 32-year-old Vorayuth's attorney told a Bangkok court his client couldn't show up because he was on a mission in the United Kingdom, an AP reporter called out questions to the Red Bull heir on his London doorstep:</p>
<p>"What is your mission in the UK, Boss? What are you doing here? Are you going to Thailand to meet with prosecutors?"</p>
<p>Smiling slightly, eyes averted, Vorayuth gave no answer. Hours later, he and his parents hurried with suitcases out of the home where the clan has celebrated anniversaries and family dinners for years. That was in April, the last time Vorayuth was seen in public.</p>
<p>The five-story, brick home is the address Vorayuth's father, Chalerm Yoovidhya, gave when incorporating Thai Siam Winery Ltd. in the U.K. in 2002, and that his mother, Daranee Yoovidhya, used when opening a food related business there in 2006.</p>
<p>But the listed owner of the home, and at least four other multimillion-dollar properties in London, isn't the Yoovidhyas — it's Karnforth Investments Ltd., a company incorporated in the British Virgin Islands, according to the Panama Papers.</p>
<p>Even though the Yoovidhyas and Mateschitz own Red Bull, the main shareholder of the energy drink's United Kingdom business is another British Virgin Islands company called Jerrard Company Ltd.</p>
<p>Here's where it gets complicated:</p>
<p>Karnforth has just one shareholder: Jerrard. And Jerrard is held by a third offshore company, which controls a fourth, JK Fly. Who owns JK Fly? Karnforth.</p>
<p>The Yoovidhyas' offshore companies overlap with stand-in brokers, secretaries, directors and officers — people legally paid small amounts to sign forms and attend directors meetings in lieu of the true owners, whose names remain confidential.</p>
<p>For years, money has flowed back and forth between the various entities, the documents show.</p>
<p>For example, in 2005, Jerrard loaned Karnforth $6.5 million to buy two London properties. In 2012, Jerrard canceled the mortgages, giving Karnforth ownership of the properties. Since 2010, JK Fly has owed Karnforth, its sole shareholder, about $14 million in an interest-free loan to purchase aircraft.</p>
<p>Business transactions that are deliberately obscured might look suspicious, but the Yoovidhya family might just be using established and legal tax-avoidance arrangements, financial experts told the AP.</p>
<p>"Anonymous money transfers? Those are pretty common in illegal schemes, but they're also common in legal schemes," said Australia's Griffith University professor Jason Sharman, who researches corruption and money-laundering.</p>
<p>What matters, Sharman said, is that the agents moving the money know who the true owners are.</p>
<p>And that has not always happened, the Panama Papers show.</p>
<p>___</p>
<p>In 2010, and again in 2013, the papers show that auditors at Mossack Fonseca's head offices in Panama raised concerns about the Yoovidhya companies Karnforth and Jerrard. Documents verifying the true owners were missing.</p>
<p>"Failure to keep such files up to date will result in high administrative and statutory fines," Mossack Fonseca auditors told the U.K.-based corporate services agent handling their accounts. AP could not determine whether full documentation was ever provided.</p>
<p>In an unrelated case, when Mossack Fonseca's Panama office asked their own agent in Thailand to provide due diligence on a prominent Bangkok billionaire, he flat-out refused, the documents show.</p>
<p>"This is a CROCK. Any rich person here knows someone or is related to someone in politics," Steve Wagner in Bangkok's Mossack Fonseca office wrote when asked to supply certified passport copies, names of the ultimate beneficial owners, bank reference letters and more.</p>
<p>"We have provided all due diligence on our clients and we are no (sic) going to anger our best clients by these witch hunts and investigative internet searches that are going on in the back offices of Panama," he wrote.</p>
<p>Wagner did not respond to AP's requests for comment.</p>
<p>While other governments were swift and aggressive in responding to Panama Papers revelations, that has not been the case in Thailand. More than 1,400 Thai individuals were identified in the documents, but the government calls the reports rumors with no evidence.</p>
<p>Last year, Thailand's Anti-Money Laundering Office said it was investigating more than a dozen of those individuals — unnamed current and former politicians and business people. To date, that office has not reported any crimes, however, and it would not answer AP's questions.</p>
<p>"People do this to hide corrupt money," said law professor Viraphong Boonyobhas, director of Chulalongkorn University's business crime and money-laundering databank in Bangkok.</p>
<p>Viraphong would not speak directly about the Yoovidhyas or any other Thai person or company, saying he feared for his legal and physical safety, but added that his expectations for accountability in the military-run government are low.</p>
<p>Thai authorities have vowed to fight corruption, but "wealthy people in Thailand are influential people," Viraphong said. "Maybe the government can't untangle such a complicated network."</p>
<p>Thai laws also are filled with loopholes, said Sumaporn Manason, a legal expert at the Thai Ministry of Finance.</p>
<p>The country doesn't meet basic international frameworks to combat money-laundering and terrorist financing, she said. And tax avoidance — that is, keeping money anonymously in offshore accounts — is legal and common.</p>
<p>"Here we call it tax planning," she said.</p>
<p>As a result, she said, Thailand misses out on much-needed revenues that could build bridges, highways and schools.</p>
<p>___</p>
<p>In 1987, Vorayuth's reclusive grandfather, Chaleo Yoovidhya, partnered his company T.C. Pharma with Mateschitz, with each investing $500,000 to market a caffeine-powered energy drink popular in Thailand. In 1987, Red Bull Energy Drink went international. Today, it's sold in 170 countries. Red Bull also has race cars and jets, and sponsors extreme athletes. Last year, the company reported $6 billion in profits.</p>
<p>Vorayuth's 2012 Ferrari accident, in which he dragged police Sgt. Maj. Wichean Glanprasert and his motorcycle along the road and then sped away from the mangled body, has raised concerns about impunity and the Red Bull brand from around the world.</p>
<p>For more than four years, Vorayuth repeatedly failed to show up when ordered to face criminal charges of speeding, hit-and-run, and deadly, reckless driving.</p>
<p>"Spoiled brat Red Bull heir," read one recent Toronto Sun headline.</p>
<p>"It seems money can buy anything in Thailand, including the justice system," said Time.com.</p>
<p>Police say Vorayuth disputes the reckless-driving charge, claiming the officer swerved in front of him. The speeding charge expired after a year. The more serious charge of hit-and-run, which police say carries a penalty of up to six months in jail, expires Sept. 3 if he isn't apprehended.</p>
<p>Authorities didn't issue an arrest warrant until earlier this year, after AP tracked Vorayuth down to report that, since the accident, he has flown around the world on Red Bull jets, openly cheering his family's Formula One racing team and enjoying luxury resort vacations.</p>
<p>The arrest warrant may have cramped his lifestyle — he's no longer seen hanging out with Team Red Bull at Grand Prix races, and his friends and family stopped posting pictures of him at their parties. But the biggest impact from Vorayuth's accident and courtroom no-shows may, in the end, be the clues he left that now expose his family's confidential and complex offshore deals.</p>
<p>On the face of it, nothing illegal is taking place, said City University London professor Ronen Palan, who researches how the world's riches pass through tax havens.</p>
<p>"But this whole thing smacks of tax avoidance," Palan said. "At the very least."</p> | true | 0 | bangkok billionaire family cofounded red bull worlds leading energy drink uses offshore companies cloak purchases jets luxury properties including posh london home clans fugitive son last seen yoovidhya familys efforts hide assets show easily major global financial players routinely usually legally move billions dollars little oversight continue reading familys confidential deals inadvertently exposed jetsetting son vorayuth boss yoovidhya attracted cries impunity repeatedly failing show court allegedly racing away ferrari slamming motorcycle cop deadly hitandrun bangkok 120 instagram facebook postings friends family led associated press earlier year yoovidhyas london vacation home vorayuth refused comment thai authorities revoked passport issued arrest warrant say dont know investigation vorayuths whereabouts led panama papers collection 11 million secret financial documents illustrate worlds wealthiest families hide money yoovidhya family financial arrangements outlined records panama papers leak first obtained german newspaper sudeutsche zeitung shared international consortium investigative journalists began publishing collaborative reports news organizations 2016 putting wealthy powerful people 70 countries scrutiny since political leaders thrown office including pakistans prime minister nawaz sharif kicked last month accused concealing assets exposed leak overall estimated 135 billion wiped value nearly 400 companies governments european commission began cracking offshore tax havens reports 2017 pulitzer prize advertisement founders panamanian law firm mossack fonseca owned leaked documents charged earlier year moneylaundering yoovidhya familys network offshore companies set mossack fonseca complex managed keep family name red bull brand spotlight panama papers shared ap show family used least halfdozen offshore anonymous companies tax havens two decades yoovidhyas share ownership red bull austrian dietrich mateschitz respond repeated requests faxed telephoned handdelivered comment red bull said statement vorayuths legal situation matter red bull concerns yoovidhya family spokesman also said private company red bull doesnt speak publicly financial commercial matters experts agree tax avoidance manuevers involving offshore companies permissible ubiquitous worldwide including among many thailands richest families shell companies facilitate shared ownership different countries theres indication yoovidhya familys accounts violated laws extremely confidential deals also used evade taxes launder money ___ days 32yearold vorayuths attorney told bangkok court client couldnt show mission united kingdom ap reporter called questions red bull heir london doorstep mission uk boss going thailand meet prosecutors smiling slightly eyes averted vorayuth gave answer hours later parents hurried suitcases home clan celebrated anniversaries family dinners years april last time vorayuth seen public fivestory brick home address vorayuths father chalerm yoovidhya gave incorporating thai siam winery ltd uk 2002 mother daranee yoovidhya used opening food related business 2006 listed owner home least four multimilliondollar properties london isnt yoovidhyas karnforth investments ltd company incorporated british virgin islands according panama papers even though yoovidhyas mateschitz red bull main shareholder energy drinks united kingdom business another british virgin islands company called jerrard company ltd heres gets complicated karnforth one shareholder jerrard jerrard held third offshore company controls fourth jk fly owns jk fly karnforth yoovidhyas offshore companies overlap standin brokers secretaries directors officers people legally paid small amounts sign forms attend directors meetings lieu true owners whose names remain confidential years money flowed back forth various entities documents show example 2005 jerrard loaned karnforth 65 million buy two london properties 2012 jerrard canceled mortgages giving karnforth ownership properties since 2010 jk fly owed karnforth sole shareholder 14 million interestfree loan purchase aircraft business transactions deliberately obscured might look suspicious yoovidhya family might using established legal taxavoidance arrangements financial experts told ap anonymous money transfers pretty common illegal schemes theyre also common legal schemes said australias griffith university professor jason sharman researches corruption moneylaundering matters sharman said agents moving money know true owners always happened panama papers show ___ 2010 2013 papers show auditors mossack fonsecas head offices panama raised concerns yoovidhya companies karnforth jerrard documents verifying true owners missing failure keep files date result high administrative statutory fines mossack fonseca auditors told ukbased corporate services agent handling accounts ap could determine whether full documentation ever provided unrelated case mossack fonsecas panama office asked agent thailand provide due diligence prominent bangkok billionaire flatout refused documents show crock rich person knows someone related someone politics steve wagner bangkoks mossack fonseca office wrote asked supply certified passport copies names ultimate beneficial owners bank reference letters provided due diligence clients sic going anger best clients witch hunts investigative internet searches going back offices panama wrote wagner respond aps requests comment governments swift aggressive responding panama papers revelations case thailand 1400 thai individuals identified documents government calls reports rumors evidence last year thailands antimoney laundering office said investigating dozen individuals unnamed current former politicians business people date office reported crimes however would answer aps questions people hide corrupt money said law professor viraphong boonyobhas director chulalongkorn universitys business crime moneylaundering databank bangkok viraphong would speak directly yoovidhyas thai person company saying feared legal physical safety added expectations accountability militaryrun government low thai authorities vowed fight corruption wealthy people thailand influential people viraphong said maybe government cant untangle complicated network thai laws also filled loopholes said sumaporn manason legal expert thai ministry finance country doesnt meet basic international frameworks combat moneylaundering terrorist financing said tax avoidance keeping money anonymously offshore accounts legal common call tax planning said result said thailand misses muchneeded revenues could build bridges highways schools ___ 1987 vorayuths reclusive grandfather chaleo yoovidhya partnered company tc pharma mateschitz investing 500000 market caffeinepowered energy drink popular thailand 1987 red bull energy drink went international today sold 170 countries red bull also race cars jets sponsors extreme athletes last year company reported 6 billion profits vorayuths 2012 ferrari accident dragged police sgt maj wichean glanprasert motorcycle along road sped away mangled body raised concerns impunity red bull brand around world four years vorayuth repeatedly failed show ordered face criminal charges speeding hitandrun deadly reckless driving spoiled brat red bull heir read one recent toronto sun headline seems money buy anything thailand including justice system said timecom police say vorayuth disputes recklessdriving charge claiming officer swerved front speeding charge expired year serious charge hitandrun police say carries penalty six months jail expires sept 3 isnt apprehended authorities didnt issue arrest warrant earlier year ap tracked vorayuth report since accident flown around world red bull jets openly cheering familys formula one racing team enjoying luxury resort vacations arrest warrant may cramped lifestyle hes longer seen hanging team red bull grand prix races friends family stopped posting pictures parties biggest impact vorayuths accident courtroom noshows may end clues left expose familys confidential complex offshore deals face nothing illegal taking place said city university london professor ronen palan researches worlds riches pass tax havens whole thing smacks tax avoidance palan said least | 1,084 |
<p>Even though his nomination continues to grow inevitable by the day, real estate mogul Donald Trump continues to whine and moan about a supposedly "rigged" system.</p>
<p>In an <a href="http://thehill.com/blogs/ballot-box/presidential-races/278348-trump-the-gops-a-rigged-party" type="external">appearance</a> on CNN's "New Day," Trump threw a tantrum over the fact that Sen. Ted Cruz's (R-TX) <a href="http://www.azcentral.com/story/news/politics/elections/2016/04/30/trump-campaign-irate-over-defeat-arizona-delegate-vote/83517940/" type="external">Arizona delegate slate</a> secured most of the spots for the GOP convention in July.</p>
<p>"The bosses are trying to run it," Trump pouted. "It’s a rigged party. The bosses want to pick whoever they want to pick. The voters wouldn’t stand for it."</p>
<p>The Trump tantrum didn't end there.</p>
<p>"I’m leading in both votes and delegates. I’m leading by millions of votes. I’m leading by hundreds of delegates," Trump whined. "What’s the purpose of going through the primary?"</p>
<p>In a way, Trump is right. The system is rigged...for him. Here are five reasons proving this point.</p>
<p>1. Trump has won more delegates than his percentage of the vote. An analysis conducted by <a href="https://fivethirtyeight.com/features/trumps-right-that-the-gop-primary-is-unfair-it-favors-him/" type="external">FiveThirtyEight</a> in April, before Trump's massive string of victories in the northeast, concluded that while Trump had won 37 percent of the vote, he received 48 percent of the delegates at stake. Since Trump's recent victories, those percentage points are likely a little higher, but the point still stands–Trump has received more delegates than his vote total. As FiveThirtyEight's Harry Enten explains:</p>
<p>Trump has won a higher share of delegates than votes in 24 of the 35 contests studied (67 percent), most notably in winner-take-all contests. Winner-take-all statewide contests are less democratic than winner-take-all by congressional district (in the sense that the delegate allocation mirrors the vote). And winner-take-all by district is less democratic than simple proportional allocation. Trump benefited most in South Carolina, which awarded all 50 of its delegates to Trump even as he won a little less than a third of the vote. He also took all the delegates in the winner-take-all states of Arizona and Florida, while earning less than 50 percent of the vote in each. In 40 percent of the contests, Trump did at least 10 percentage points better in the delegate race than in the actual voting.</p>
<p>If the system is rigged against Trump, why is he surging when he has yet to win more than half of the primary electorate's vote?</p>
<p>2. Blue states have had more influence in the primary, which is to Trump's advantage. One of the reasons why Trump's delegate count is exceeding his vote totals is that blue states have had more influence in the primary than red states that benefit a conservative like Cruz. FiveThirtyEight foresaw this development back in the November, although the conventional wisdom was that it would be Sen. Marco Rubio (R-FL) rather than Trump who would benefit from the blue states' influence:</p>
<p>A total of 832 delegates (about 34 percent of all 2,472 delegates) spanning 23 states will be awarded based on results at the congressional district level. Here’s the catch: According to the RNC’s allotment rules, three delegates are at stake in each district, regardless of the partisan lopsidedness of the seat. This creates a “rotten boroughs” phenomenon in which Blue Zone Republicans’ votes can be disproportionately valuable.</p>
<p>For example, three delegates are up for grabs in New York’s heavily Latino, Bronx-based 15th District, which cast just 5,315 votes for Romney in 2012. But there are also three delegates at stake in Alabama’s 6th District, which covers Birmingham’s whitest suburbs and gave Romney 233,803 votes. In other words, a GOP primary vote cast in the bluest part of the Bronx could be worth 43 times more than a vote cast in the reddest part of Alabama.</p>
<p>The average blue district awards one convention delegate per 28,912 Romney voters, while the average red district awards one delegate per every 56,714 Romney voters. Thanks to this disparity, if a hard-right candidate like Cruz dominates deeply red Southern districts in the SEC primary, a more electable candidate like Rubio could quickly erase that deficit by quietly piling up smaller raw-vote wins in more liberal urban and coastal districts.</p>
<p>Nowhere is this more evident than in the fact that Trump won 89 delegates in <a href="http://www.nytimes.com/elections/results/new-york" type="external">New York</a> while receiving 524,932 votes. Cruz won Wisconsin a couple weeks prior to the New York primary and received 531,129 votes–more votes than Trump won in New York–and yet only received 36 delegates.</p>
<p>The disparity in the influence of blue states against more moderate swing states and red states has clearly worked to Trump's favor.</p>
<p>3. Trump has also benefited from open primaries and early voting in red states. Cruz's <a href="" type="internal">initial primary strategy</a> was to rely on the swath of Southern states early on in the primary process to give him a solid delegate lead before the blue states in the latter half of the primary. Problem is, Trump turned that strategy upside down by winning a lot of the red states Cruz was counting on, and that was largely thanks to <a href="https://www.cnbc.com/2016/03/16/why-trump-wins-open-primaries-maybe.html" type="external">open primaries</a> and <a href="http://www.nationalreview.com/article/433007/donald-trump-could-win-arizona-early-votes-rubio-will-help-him" type="external">early voting</a>. States such as Alabama and Missouri, for instance, had both factors in play in their primaries, and they benefited Trump since Democrats and Independents would vote for him in the open primary. Additionally, early voting has also been to Trump's advantage since early votes typically go to the candidate that dominates the news coverage, which has easily been Trump in this election cycle. However, Trump does not typically perform well among late deciders.</p>
<p>4. A crowded Republican field was to Trump's advantage. Even though Trump typically won only a plurality of votes before his blue state sweep, his cult-like following was able to be enough to withstand the anti-Trump vote divided in a crowded field. To this day, Trump has yet to face a single candidate in the primary, since Ohio Gov. John Kasich (R) is <a href="" type="internal">essentially sabotaging Cruz</a> as he lives out his delusional fantasy of becoming president.</p>
<p>5. The establishment prefers Trump to Cruz. Despite virulent opposition to the outset of Trump's candidacy, the establishment has begun to acquiesce to Trump's demands and make peace with him as the nominee. After all, the establishment despises conservatives, so they can live with the leftist Trump, but they fear Cruz, who truly will disrupt their way of life if he's elected as president of the United States. Evidence of this can be seen in the fact that the Republican National Committee appears to be willing to <a href="" type="internal">hand Trump the nomination</a> if he's just a little bit shy of the 1,237 delegate threshold, the fact that former Speaker of the House John Boehner, one of the faces of the establishment, has <a href="" type="internal">announced his preference for Trump</a> and the fact that the leftist media, <a href="http://www.newsbusters.org/blogs/nb/rich-noyes/2016/03/02/february-2016-tv-news-gives-trump-three-times-more-airtime-cruz-or" type="external">which has used Trump for ratings this election cycle</a>, has all but declared him as the GOP presidential nominee.</p>
<p>With those kinds of allies, how can Trump possibly claim the system is rigged?</p> | true | 0 | even though nomination continues grow inevitable day real estate mogul donald trump continues whine moan supposedly rigged system appearance cnns new day trump threw tantrum fact sen ted cruzs rtx arizona delegate slate secured spots gop convention july bosses trying run trump pouted rigged party bosses want pick whoever want pick voters wouldnt stand trump tantrum didnt end im leading votes delegates im leading millions votes im leading hundreds delegates trump whined whats purpose going primary way trump right system riggedfor five reasons proving point 1 trump delegates percentage vote analysis conducted fivethirtyeight april trumps massive string victories northeast concluded trump 37 percent vote received 48 percent delegates stake since trumps recent victories percentage points likely little higher point still standstrump received delegates vote total fivethirtyeights harry enten explains trump higher share delegates votes 24 35 contests studied 67 percent notably winnertakeall contests winnertakeall statewide contests less democratic winnertakeall congressional district sense delegate allocation mirrors vote winnertakeall district less democratic simple proportional allocation trump benefited south carolina awarded 50 delegates trump even little less third vote also took delegates winnertakeall states arizona florida earning less 50 percent vote 40 percent contests trump least 10 percentage points better delegate race actual voting system rigged trump surging yet win half primary electorates vote 2 blue states influence primary trumps advantage one reasons trumps delegate count exceeding vote totals blue states influence primary red states benefit conservative like cruz fivethirtyeight foresaw development back november although conventional wisdom would sen marco rubio rfl rather trump would benefit blue states influence total 832 delegates 34 percent 2472 delegates spanning 23 states awarded based results congressional district level heres catch according rncs allotment rules three delegates stake district regardless partisan lopsidedness seat creates rotten boroughs phenomenon blue zone republicans votes disproportionately valuable example three delegates grabs new yorks heavily latino bronxbased 15th district cast 5315 votes romney 2012 also three delegates stake alabamas 6th district covers birminghams whitest suburbs gave romney 233803 votes words gop primary vote cast bluest part bronx could worth 43 times vote cast reddest part alabama average blue district awards one convention delegate per 28912 romney voters average red district awards one delegate per every 56714 romney voters thanks disparity hardright candidate like cruz dominates deeply red southern districts sec primary electable candidate like rubio could quickly erase deficit quietly piling smaller rawvote wins liberal urban coastal districts nowhere evident fact trump 89 delegates new york receiving 524932 votes cruz wisconsin couple weeks prior new york primary received 531129 votesmore votes trump new yorkand yet received 36 delegates disparity influence blue states moderate swing states red states clearly worked trumps favor 3 trump also benefited open primaries early voting red states cruzs initial primary strategy rely swath southern states early primary process give solid delegate lead blue states latter half primary problem trump turned strategy upside winning lot red states cruz counting largely thanks open primaries early voting states alabama missouri instance factors play primaries benefited trump since democrats independents would vote open primary additionally early voting also trumps advantage since early votes typically go candidate dominates news coverage easily trump election cycle however trump typically perform well among late deciders 4 crowded republican field trumps advantage even though trump typically plurality votes blue state sweep cultlike following able enough withstand antitrump vote divided crowded field day trump yet face single candidate primary since ohio gov john kasich r essentially sabotaging cruz lives delusional fantasy becoming president 5 establishment prefers trump cruz despite virulent opposition outset trumps candidacy establishment begun acquiesce trumps demands make peace nominee establishment despises conservatives live leftist trump fear cruz truly disrupt way life hes elected president united states evidence seen fact republican national committee appears willing hand trump nomination hes little bit shy 1237 delegate threshold fact former speaker house john boehner one faces establishment announced preference trump fact leftist media used trump ratings election cycle declared gop presidential nominee kinds allies trump possibly claim system rigged | 660 |
<p>With brick and mortar stores shuttering at a record pace, retail in the U.S. feels like it's at a tipping point. Many of the stores that once filled the malls of America have become "zombies," while online retailers capture ever more of the most valuable consumers -- the young and affluent.</p>
<p>Legacy retailers are trying to play catch-up, but they're saddled by huge fixed costs, investors who prefer dividends to innovations, and CEOs incentivized to focus on the next quarter, not the next decade. It's only a matter of time before Amazon.com's army of physical retail formats turn into an existential threat to everyone from Mom and Pop to Kroger and Wal-Mart.</p>
<p>Continue Reading Below</p>
<p>That doesn't mean retailers are taking this lying down. As online brands begin to build physical shops, the old guard is taking notes -- and in many cases, writing checks. Wal-Mart, for example, has been on an acquisition binge of late. It's now in talks to buy men's clothier Bonobos for $300 million.</p>
<p>After surveying analysts and CEOs, I learned the three biggest lessons physical retailers are grappling with as they face this rocky transition.</p>
<p>Data is King</p>
<p>When I asked Target, Walgreens and grocery chain Giant Food about loyalty programs and the fate of customers' purchasing data -- which is the in-store equivalent of your web browsing history -- they all declined to comment. Why so cagey? Perhaps because of the uproar that occurred when Target sent coupons for baby clothes and cribs to the home of a teenage girl, alerting her family she was pregnant, says Michelle Evans, an analyst at consumer research firm Euromonitor.</p>
<p>Data has been a vital part of Amazon's retail revolution, just as it was with Netflix's media revolution and Google and Facebook's advertising revolution. For brick-and-mortar retailers, purchasing data doesn't just help them compete with online adversaries; it has also become an alternate revenue source when profit margins are razor thin. For example, Unilever might buy store sales data to figure out which products are in high demand and when people buy them. (Ms. Evans says that when retailers sell data, it's anonymized and not linked to individual consumers.)</p>
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<p>Physical retailers must catch up to online retailers in collecting rich data without making it feel so intrusive. Why, exactly, does my grocery store need my phone number?</p>
<p>Personalization + Automation = Profits</p>
<p>There's a debate in the auto industry: Can Tesla get good at making cars faster than Ford, General Motors and Toyota can get good at making self-driving electric vehicles? The same applies to retail: Can physical retailers build intimate digital relationships with their customers -- and use that data to update their stores -- faster than online-first retailers can learn how to lease property, handle inventory and manage retail workers?</p>
<p>Online retailers know what's popular, and how customers who like one item tend to like certain others. So Amazon's physical bookstores can put out fewer books with more prominently displayed covers. Bonobos doesn't even sell clothes in its stores, which it calls "guideshops." Instead, customers go there to try clothes on, and their selections are delivered through the company's existing e-commerce system.</p>
<p>Amazon's upcoming Go convenience stores, selling groceries and meal kits, don't even require cashiers. That's the sort of automation that could position Amazon to reap margins -- or slash prices -- to a degree unprecedented for retailers in traditionally low-margin categories like food and packaged goods.</p>
<p>While online retailers are accustomed to updating inventory and prices by the hour, physical retailers simply don't have the data or the systems to keep up, and tend to buy and stock on cycles as long as a year, says George Faigen, a retail consultant at Oliver Wyman. Some legacy retailers are getting around this by teaming up with online players.</p>
<p>Target stocks men's shaving supplies from not one but two online upstarts, Harry's and Bevel. Target has said that, as a result, more customers are coming in to buy razors, increasing the sales of every brand on that aisle -- even good old Gillette. Retailers have long relied on manufacturers to drive customers to stores by marketing their goods and even managing in-store displays. The difference is this: In the past, new brands had to persuade store buyers to dole out precious shelf space; now the brands can prove themselves online first.</p>
<p>Legacy Tech Won't Cut It</p>
<p>Perhaps the biggest challenge for existing retailers, says Euromonitor's Ms. Evans, is finding the money to transition to this hybrid online-offline model. While Target has announced it will spend $7 billion over the next three years to revamp its stores, investors fled the stock in February after Target reported 2017 profits might be 25% less than expected.</p>
<p>When Warby Parker, the online eyeglasses retailer, set out to launch stores across the U.S., the company looked for in-store sales software that could integrate with its existing e-commerce systems. It couldn't find a system up to the task, so it built one from scratch.</p>
<p>These kinds of systems allow salespeople to know what customers have bought both online and off, and what they might be nudged toward on that day. "We call it the 'point of everything' system," says David Gilboa, co-founder and co-chief executive.</p>
<p>Having this much customer knowledge available instantly is critical, but it's precisely what existing retailers struggle with, Mr. Faigen says.</p>
<p>Even Amazon is experiencing brick-and-mortar difficulties. In March, The Wall Street Journal reported that the Go stores would be delayed because of kinks in the point-of-sale software system.</p>
<p>Andy Katz-Mayfield, co-founder and co-chief executive of Harry's, is skeptical that traditional retailers like Wal-Mart can make the leap, even if they invest heavily in technology.</p>
<p>The problem, he says, is that selling online isn't just about taking orders through a website. Companies that succeed are good at selling direct to consumers -- building technology from the ground up, integrating teams skilled at navigating online marketing's ever-shifting terrain and managing the experience through fulfillment and delivery, Mr. Katz-Mayfield says.</p>
<p>That e-commerce startups are so confident about their own future doesn't mean they are right about the fate of traditional retailers, however. A report from Merrill Lynch argues Wal-Mart is embarking on a period of 20% to 30% growth for its e-commerce business. A spokesman for the company said that in addition to acquisitions, the company is focused on growing its e-commerce business organically.</p>
<p>It isn't hard to picture today's e-commerce companies becoming brick-and-mortar retailers. It's harder to bet on traditional retailers becoming as tech savvy as their e-competition.</p>
<p>With brick and mortar stores shuttering at a record pace, retail in the U.S. feels like it's at a tipping point. Many of the stores that once filled the malls of America have become "zombies," while online retailers capture ever more of the most valuable consumers -- the young and affluent.</p>
<p>Legacy retailers are trying to play catch-up, but they're saddled by huge fixed costs, investors who prefer dividends to innovations, and CEOs incentivized to focus on the next quarter, not the next decade. It's only a matter of time before Amazon.com's army of physical retail formats turn into an existential threat to everyone from Mom and Pop to Kroger and Wal-Mart.</p>
<p>That doesn't mean retailers are taking this lying down. As online brands begin to build physical shops, the old guard is taking notes -- and in many cases, writing checks. Wal-Mart, for example, has been on an acquisition binge of late. It's now in talks to buy men's clothier Bonobos for $300 million.</p>
<p>After surveying analysts and CEOs, I learned the three biggest lessons physical retailers are grappling with as they face this rocky transition.</p>
<p>Data is King</p>
<p>When I asked Target, Walgreens and grocery chain Giant Food about loyalty programs and the fate of customers' purchasing data -- which is the in-store equivalent of your web browsing history -- they all declined to comment. Why so cagey? Perhaps because of the uproar that occurred when Target sent coupons for baby clothes and cribs to the home of a teenage girl, alerting her family she was pregnant, says Michelle Grant, an analyst at consumer research firm Euromonitor.</p>
<p>Data has been a vital part of Amazon's retail revolution, just as it was with Netflix's media revolution and Google and Facebook's advertising revolution. For brick-and-mortar retailers, purchasing data doesn't just help them compete with online adversaries; it has also become an alternate revenue source when profit margins are razor thin. For example, Unilever might buy store sales data to figure out which products are in high demand and when people buy them. (Ms. Evans says that when retailers sell data, it's anonymized and not linked to individual consumers.)</p>
<p>Physical retailers must catch up to online retailers in collecting rich data without making it feel so intrusive. Why, exactly, does my grocery store need my phone number?</p>
<p>Personalization + Automation = Profits</p>
<p>There's a debate in the auto industry: Can Tesla get good at making cars faster than Ford, General Motors and Toyota can get good at making self-driving electric vehicles? The same applies to retail: Can physical retailers build intimate digital relationships with their customers -- and use that data to update their stores -- faster than online-first retailers can learn how to lease property, handle inventory and manage retail workers?</p>
<p>Online retailers know what's popular, and how customers who like one item tend to like certain others. So Amazon's physical bookstores can put out fewer books with more prominently displayed covers. Bonobos doesn't even sell clothes in its stores, which it calls "guideshops." Instead, customers go there to try clothes on, and their selections are delivered through the company's existing e-commerce system.</p>
<p>Amazon's upcoming Go convenience stores, selling groceries and meal kits, don't even require cashiers. That's the sort of automation that could position Amazon to reap margins -- or slash prices -- to a degree unprecedented for retailers in traditionally low-margin categories like food and packaged goods.</p>
<p>While online retailers are accustomed to updating inventory and prices by the hour, physical retailers simply don't have the data or the systems to keep up, and tend to buy and stock on cycles as long as a year, says George Faigen, a retail consultant at Oliver Wyman. Some legacy retailers are getting around this by teaming up with online players.</p>
<p>Target stocks men's shaving supplies from not one but two online upstarts, Harry's and Bevel. Target has said that, as a result, more customers are coming in to buy razors, increasing the sales of every brand on that aisle -- even good old Gillette. Retailers have long relied on manufacturers to drive customers to stores by marketing their goods and even managing in-store displays. The difference is this: In the past, new brands had to persuade store buyers to dole out precious shelf space; now the brands can prove themselves online first.</p>
<p>Legacy Tech Won't Cut It</p>
<p>Perhaps the biggest challenge for existing retailers, says Euromonitor's Ms. Evans, is finding the money to transition to this hybrid online-offline model. While Target has announced it will spend $7 billion over the next three years to revamp its stores, investors fled the stock in February after Target reported 2017 profits might be 25% less than expected.</p>
<p>When Warby Parker, the online eyeglasses retailer, set out to launch stores across the U.S., the company looked for in-store sales software that could integrate with its existing e-commerce systems. It couldn't find a system up to the task, so it built one from scratch.</p>
<p>These kinds of systems allow salespeople to know what customers have bought both online and off, and what they might be nudged toward on that day. "We call it the 'point of everything' system," says David Gilboa, co-founder and co-chief executive.</p>
<p>Having this much customer knowledge available instantly is critical, but it's precisely what existing retailers struggle with, Mr. Faigen says.</p>
<p>Even Amazon is experiencing brick-and-mortar difficulties. In March, The Wall Street Journal reported that the Go stores would be delayed because of kinks in the point-of-sale software system.</p>
<p>Andy Katz-Mayfield, co-founder and co-chief executive of Harry's, is skeptical that traditional retailers like Wal-Mart can make the leap, even if they invest heavily in technology.</p>
<p>The problem, he says, is that selling online isn't just about taking orders through a website. Companies that succeed are good at selling direct to consumers -- building technology from the ground up, integrating teams skilled at navigating online marketing's ever-shifting terrain and managing the experience through fulfillment and delivery, Mr. Katz-Mayfield says.</p>
<p>That e-commerce startups are so confident about their own future doesn't mean they are right about the fate of traditional retailers, however. A report from Merrill Lynch argues Wal-Mart is embarking on a period of 20% to 30% growth for its e-commerce business. A spokesman for the company said that in addition to acquisitions, the company is focused on growing its e-commerce business organically.</p>
<p>It isn't hard to picture today's e-commerce companies becoming brick-and-mortar retailers. It's harder to bet on traditional retailers becoming as tech savvy as their e-competition.</p>
<p>Corrections &amp; Amplifications</p>
<p>This story was corrected April 24, 2017 at 1:10 p.m. ET because it misidentified Michelle Grant as Michelle Evans, a different Euromonitor analyst.</p>
<p>The Euromonitor analyst interviewed for this article was Michelle Grant. "Keywords: Three Hard Lessons for Traditional Retailers," at 0714 ET on April 23, misidentified her as Michelle Evans, a different Euromonitor analyst. (4/24/17)</p>
<p>(END) Dow Jones Newswires</p>
<p>April 24, 2017 13:13 ET (17:13 GMT)</p> | true | 0 | brick mortar stores shuttering record pace retail us feels like tipping point many stores filled malls america become zombies online retailers capture ever valuable consumers young affluent legacy retailers trying play catchup theyre saddled huge fixed costs investors prefer dividends innovations ceos incentivized focus next quarter next decade matter time amazoncoms army physical retail formats turn existential threat everyone mom pop kroger walmart continue reading doesnt mean retailers taking lying online brands begin build physical shops old guard taking notes many cases writing checks walmart example acquisition binge late talks buy mens clothier bonobos 300 million surveying analysts ceos learned three biggest lessons physical retailers grappling face rocky transition data king asked target walgreens grocery chain giant food loyalty programs fate customers purchasing data instore equivalent web browsing history declined comment cagey perhaps uproar occurred target sent coupons baby clothes cribs home teenage girl alerting family pregnant says michelle evans analyst consumer research firm euromonitor data vital part amazons retail revolution netflixs media revolution google facebooks advertising revolution brickandmortar retailers purchasing data doesnt help compete online adversaries also become alternate revenue source profit margins razor thin example unilever might buy store sales data figure products high demand people buy ms evans says retailers sell data anonymized linked individual consumers advertisement physical retailers must catch online retailers collecting rich data without making feel intrusive exactly grocery store need phone number personalization automation profits theres debate auto industry tesla get good making cars faster ford general motors toyota get good making selfdriving electric vehicles applies retail physical retailers build intimate digital relationships customers use data update stores faster onlinefirst retailers learn lease property handle inventory manage retail workers online retailers know whats popular customers like one item tend like certain others amazons physical bookstores put fewer books prominently displayed covers bonobos doesnt even sell clothes stores calls guideshops instead customers go try clothes selections delivered companys existing ecommerce system amazons upcoming go convenience stores selling groceries meal kits dont even require cashiers thats sort automation could position amazon reap margins slash prices degree unprecedented retailers traditionally lowmargin categories like food packaged goods online retailers accustomed updating inventory prices hour physical retailers simply dont data systems keep tend buy stock cycles long year says george faigen retail consultant oliver wyman legacy retailers getting around teaming online players target stocks mens shaving supplies one two online upstarts harrys bevel target said result customers coming buy razors increasing sales every brand aisle even good old gillette retailers long relied manufacturers drive customers stores marketing goods even managing instore displays difference past new brands persuade store buyers dole precious shelf space brands prove online first legacy tech wont cut perhaps biggest challenge existing retailers says euromonitors ms evans finding money transition hybrid onlineoffline model target announced spend 7 billion next three years revamp stores investors fled stock february target reported 2017 profits might 25 less expected warby parker online eyeglasses retailer set launch stores across us company looked instore sales software could integrate existing ecommerce systems couldnt find system task built one scratch kinds systems allow salespeople know customers bought online might nudged toward day call point everything system says david gilboa cofounder cochief executive much customer knowledge available instantly critical precisely existing retailers struggle mr faigen says even amazon experiencing brickandmortar difficulties march wall street journal reported go stores would delayed kinks pointofsale software system andy katzmayfield cofounder cochief executive harrys skeptical traditional retailers like walmart make leap even invest heavily technology problem says selling online isnt taking orders website companies succeed good selling direct consumers building technology ground integrating teams skilled navigating online marketings evershifting terrain managing experience fulfillment delivery mr katzmayfield says ecommerce startups confident future doesnt mean right fate traditional retailers however report merrill lynch argues walmart embarking period 20 30 growth ecommerce business spokesman company said addition acquisitions company focused growing ecommerce business organically isnt hard picture todays ecommerce companies becoming brickandmortar retailers harder bet traditional retailers becoming tech savvy ecompetition brick mortar stores shuttering record pace retail us feels like tipping point many stores filled malls america become zombies online retailers capture ever valuable consumers young affluent legacy retailers trying play catchup theyre saddled huge fixed costs investors prefer dividends innovations ceos incentivized focus next quarter next decade matter time amazoncoms army physical retail formats turn existential threat everyone mom pop kroger walmart doesnt mean retailers taking lying online brands begin build physical shops old guard taking notes many cases writing checks walmart example acquisition binge late talks buy mens clothier bonobos 300 million surveying analysts ceos learned three biggest lessons physical retailers grappling face rocky transition data king asked target walgreens grocery chain giant food loyalty programs fate customers purchasing data instore equivalent web browsing history declined comment cagey perhaps uproar occurred target sent coupons baby clothes cribs home teenage girl alerting family pregnant says michelle grant analyst consumer research firm euromonitor data vital part amazons retail revolution netflixs media revolution google facebooks advertising revolution brickandmortar retailers purchasing data doesnt help compete online adversaries also become alternate revenue source profit margins razor thin example unilever might buy store sales data figure products high demand people buy ms evans says retailers sell data anonymized linked individual consumers physical retailers must catch online retailers collecting rich data without making feel intrusive exactly grocery store need phone number personalization automation profits theres debate auto industry tesla get good making cars faster ford general motors toyota get good making selfdriving electric vehicles applies retail physical retailers build intimate digital relationships customers use data update stores faster onlinefirst retailers learn lease property handle inventory manage retail workers online retailers know whats popular customers like one item tend like certain others amazons physical bookstores put fewer books prominently displayed covers bonobos doesnt even sell clothes stores calls guideshops instead customers go try clothes selections delivered companys existing ecommerce system amazons upcoming go convenience stores selling groceries meal kits dont even require cashiers thats sort automation could position amazon reap margins slash prices degree unprecedented retailers traditionally lowmargin categories like food packaged goods online retailers accustomed updating inventory prices hour physical retailers simply dont data systems keep tend buy stock cycles long year says george faigen retail consultant oliver wyman legacy retailers getting around teaming online players target stocks mens shaving supplies one two online upstarts harrys bevel target said result customers coming buy razors increasing sales every brand aisle even good old gillette retailers long relied manufacturers drive customers stores marketing goods even managing instore displays difference past new brands persuade store buyers dole precious shelf space brands prove online first legacy tech wont cut perhaps biggest challenge existing retailers says euromonitors ms evans finding money transition hybrid onlineoffline model target announced spend 7 billion next three years revamp stores investors fled stock february target reported 2017 profits might 25 less expected warby parker online eyeglasses retailer set launch stores across us company looked instore sales software could integrate existing ecommerce systems couldnt find system task built one scratch kinds systems allow salespeople know customers bought online might nudged toward day call point everything system says david gilboa cofounder cochief executive much customer knowledge available instantly critical precisely existing retailers struggle mr faigen says even amazon experiencing brickandmortar difficulties march wall street journal reported go stores would delayed kinks pointofsale software system andy katzmayfield cofounder cochief executive harrys skeptical traditional retailers like walmart make leap even invest heavily technology problem says selling online isnt taking orders website companies succeed good selling direct consumers building technology ground integrating teams skilled navigating online marketings evershifting terrain managing experience fulfillment delivery mr katzmayfield says ecommerce startups confident future doesnt mean right fate traditional retailers however report merrill lynch argues walmart embarking period 20 30 growth ecommerce business spokesman company said addition acquisitions company focused growing ecommerce business organically isnt hard picture todays ecommerce companies becoming brickandmortar retailers harder bet traditional retailers becoming tech savvy ecompetition corrections amp amplifications story corrected april 24 2017 110 pm et misidentified michelle grant michelle evans different euromonitor analyst euromonitor analyst interviewed article michelle grant keywords three hard lessons traditional retailers 0714 et april 23 misidentified michelle evans different euromonitor analyst 42417 end dow jones newswires april 24 2017 1313 et 1713 gmt | 1,370 |
<p />
<p>One of the easiest ways to find quality companies that pay better-than-average dividends is to focus on industries that have multiple tailwinds at their proverbial backs. The pharmaceutical industry, for example, is experiencing a renaissance of sorts due to the aging and ever-expanding global population, combined with the advent of several game-changing medicines over the past few years.</p>
<p>Continue Reading Below</p>
<p>The net result is that top pharma companies like GlaxoSmithKline (NYSE: GSK) andPfizer (NYSE: PFE) have both felt confident enough to resist lowering their payouts during the ongoing patent cliff, making them potentially great buys right now. With this in mind, let's dig deeper.</p>
<p>Image Source: Getty Images.</p>
<p>After a challenging couple of years punctuated by several high-profile clinical failures, battles with insurance companies, and a damaging bribery case in China, Glaxo is finally moving into the next stage of its life cycle, and it's even set to produce high-single-digit revenue growth next year.</p>
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<p>The drugmaker's return to growth is the result of the rapid uptake of its HIV medicines Tivicay and Triumeq; the improving coverage for its respiratory medicines such as Relvar/Breo, Anoro and Incruse; and an expanding footprint in the vaccine space due to the acquisition of meningitis vaccines Bexsero and Menveo. Two other important factors are Glaxo's ongoing restructuring process and cost-cutting efforts, which have helped the companydeliver earnings-per-share growth ahead of sales growth in recent quarters and significantly improved its free cash flows.</p>
<p>So what's on tap for Glaxo in the new year? In April, the drugmaker will promote its currenthead of consumer healthcare,Emma Walmsley, to the CEO position that's being vacated by Sir Andrew Witty. This move seems to indicate that the company is indeed serious about driving growth primarily by ramping up vaccine and consumer product sales and relying less on its high-risk, high-reward pharma unit moving forward.</p>
<p>Additionally, Glaxo is hoping to launch itsexperimental herpes zoster vaccine,Shingrix, in both the U.S. and the EU next year. If it's successful, this vaccine stands to generate sales in excess of $1 billion by 2022 and around $1.5 billion at peak if approved in both territories, according toEvaluatePharma's World Preview 2016.</p>
<p>In all, Glaxo's dedication to paying a top-notch dividend yield of 4.87% during the worst of times is a reassuring sign that the company will continue to be a reliable income-generator for investors going forward, especially with its top line heading for a healthy rebound in 2017.</p>
<p>Pfizer's battle with the ongoing patent cliff has arguably been much tougher than necessary -- partly because of management's focus on using its substantial free cash flows to buy back shares instead of turning up the volume to 11 on its R&amp;D program. The good news is that Pfizer is finally reaching the tipping point, with 86 clinical trials under way, eight products in the registration phase of their life cycle, and several key clinical data readouts and regulatory decisions coming up next year.</p>
<p>Image Source: Pfizer.</p>
<p>As a prime example, Pfizer and its partner Merck KGaA (NASDAQOTH: MKGAY) recently submitted regulatory applications for their checkpoint inhibitor drug candidate avelumab in both the U.S. and the EU as a potential treatment formetastatic Merkel cell carcinoma (MCC) based on the drug's strong midstage results. Considering that MCC is a rare form of skin cancer and avelumab is attempting to become a broadly used cancer therapy, this first indication probably won't move the needle for either Pfizer or Merck KGaA from a revenue perspective. Even so, this speedy transition from the clinic to a regulatory filing is an encouraging sign thatavelumab will be among the first checkpoint inhibitors to reach the market.</p>
<p>That's key, because the checkpoint inhibitor space is starting to become saturated at this point, with numerous drugs set to battle over broadly similar indications within the next few years. In other words, the most profitable checkpoint inhibitors are likely to be the ones that reach the market first for novel indications like MCC -- instead of attempting to find elbow room in jam-packed niches like advanced melanoma.</p>
<p>Most importantly, Pfizer's headfirst dive into immuno-oncology should nicely complement its more traditional cancer portfolio, which already sports major drugs such as Ibrance for breast cancer and its newly acquired prostate cancer medicine, Xtandi. Put simply, Pfizer is rapidly expanding its footprint into one of the largest and fastest-growing drug markets in the world, implying that its top-line growth should be sustainable for the long term.</p>
<p>Turning to the drugmaker's dividend, Pfizer offers one of the highest yields, at almost 4%, among all major drug manufacturers. While the company's 12-month trailing payout ratio is somewhat concerning at 118%, investors should be comforted by the fact that Pfizer's top line has been picking up lately, the company has an enormous cash position, and its pipeline should produce at least a couple of important new growth products soon.</p>
<p>10 stocks we like better thanWal-MartWhen investing geniuses David and TomGardner have a stock tip, it can pay to listen. After all, the newsletter theyhave run for over a decade, the Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tomjust revealed what they believe are the <a href="http://www.fool.com/mms/mark/e-sa-bbn-eg?aid=8867&amp;source=isaeditxt0000476&amp;ftm_cam=sa-bbn-evergreen&amp;ftm_pit=6627&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">ten best stocks Opens a New Window.</a>for investors to buy right now... and Wal-Mart wasn't one of them! That's right -- theythink these 10 stocks are even better buys.</p>
<p><a href="http://www.fool.com/mms/mark/e-sa-bbn-eg?aid=8867&amp;source=isaeditxt0000476&amp;ftm_cam=sa-bbn-evergreen&amp;ftm_pit=6627&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a>to learn about these picks!</p>
<p>*StockAdvisor returns as of December 12, 2016The author(s) may have a position in any stocks mentioned.</p>
<p><a href="http://my.fool.com/profile/gbudwell/info.aspx" type="external">George Budwell Opens a New Window.</a> owns shares of Pfizer. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | one easiest ways find quality companies pay betterthanaverage dividends focus industries multiple tailwinds proverbial backs pharmaceutical industry example experiencing renaissance sorts due aging everexpanding global population combined advent several gamechanging medicines past years continue reading net result top pharma companies like glaxosmithkline nyse gsk andpfizer nyse pfe felt confident enough resist lowering payouts ongoing patent cliff making potentially great buys right mind lets dig deeper image source getty images challenging couple years punctuated several highprofile clinical failures battles insurance companies damaging bribery case china glaxo finally moving next stage life cycle even set produce highsingledigit revenue growth next year advertisement drugmakers return growth result rapid uptake hiv medicines tivicay triumeq improving coverage respiratory medicines relvarbreo anoro incruse expanding footprint vaccine space due acquisition meningitis vaccines bexsero menveo two important factors glaxos ongoing restructuring process costcutting efforts helped companydeliver earningspershare growth ahead sales growth recent quarters significantly improved free cash flows whats tap glaxo new year april drugmaker promote currenthead consumer healthcareemma walmsley ceo position thats vacated sir andrew witty move seems indicate company indeed serious driving growth primarily ramping vaccine consumer product sales relying less highrisk highreward pharma unit moving forward additionally glaxo hoping launch itsexperimental herpes zoster vaccineshingrix us eu next year successful vaccine stands generate sales excess 1 billion 2022 around 15 billion peak approved territories according toevaluatepharmas world preview 2016 glaxos dedication paying topnotch dividend yield 487 worst times reassuring sign company continue reliable incomegenerator investors going forward especially top line heading healthy rebound 2017 pfizers battle ongoing patent cliff arguably much tougher necessary partly managements focus using substantial free cash flows buy back shares instead turning volume 11 rampd program good news pfizer finally reaching tipping point 86 clinical trials way eight products registration phase life cycle several key clinical data readouts regulatory decisions coming next year image source pfizer prime example pfizer partner merck kgaa nasdaqoth mkgay recently submitted regulatory applications checkpoint inhibitor drug candidate avelumab us eu potential treatment formetastatic merkel cell carcinoma mcc based drugs strong midstage results considering mcc rare form skin cancer avelumab attempting become broadly used cancer therapy first indication probably wont move needle either pfizer merck kgaa revenue perspective even speedy transition clinic regulatory filing encouraging sign thatavelumab among first checkpoint inhibitors reach market thats key checkpoint inhibitor space starting become saturated point numerous drugs set battle broadly similar indications within next years words profitable checkpoint inhibitors likely ones reach market first novel indications like mcc instead attempting find elbow room jampacked niches like advanced melanoma importantly pfizers headfirst dive immunooncology nicely complement traditional cancer portfolio already sports major drugs ibrance breast cancer newly acquired prostate cancer medicine xtandi put simply pfizer rapidly expanding footprint one largest fastestgrowing drug markets world implying topline growth sustainable long term turning drugmakers dividend pfizer offers one highest yields almost 4 among major drug manufacturers companys 12month trailing payout ratio somewhat concerning 118 investors comforted fact pfizers top line picking lately company enormous cash position pipeline produce least couple important new growth products soon 10 stocks like better thanwalmartwhen investing geniuses david tomgardner stock tip pay listen newsletter theyhave run decade motley fool stock advisor tripled market david tomjust revealed believe ten best stocks opens new windowfor investors buy right walmart wasnt one thats right theythink 10 stocks even better buys click opens new windowto learn picks stockadvisor returns december 12 2016the authors may position stocks mentioned george budwell opens new window owns shares pfizer motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 610 |
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<p>After steadily rising for nearly a year, crude prices crashed last week, ending down more than 9% and closing below $50 a barrel for the first time since November. Fueling the sell-off were rising oil stockpiles, which set a record last week despite falling global supplies as a result of underinvestment and OPEC's output curbs. One of the culprits driving up inventories were weak gasoline demand and rising shale production in the U.S.</p>
<p>Continue Reading Below</p>
<p>That sell-off hit oil stocks hard, with even top-tier producers EOG Resources (NYSE: EOG), ConocoPhillips (NYSE: COP), and Occidental Petroleum (NYSE: OXY) plunging in recent weeks:</p>
<p><a href="http://ycharts.com/companies/EOG" type="external">EOG</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>This sell-off, however, looks like a buying opportunity for long-term investors. That's because these oil stocks can do just fine at lower oil prices thanks to their low costs and solid balance sheets. Here's why I'd consider buying any one of these oil stocks right now.</p>
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<p>EOG Resources recently put the wraps on an exceptional year. The company's oil production exceeded the high end of its guidance range thanks to a significant improvement in well productivity. Meanwhile, costs plummeted, with lease and well expenses falling 20%. The company also completed <a href="https://www.fool.com/investing/2016/09/27/eog-resources-inc-might-have-made-the-ma-deal-of-t.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">one of the best acquisitions of the year Opens a New Window.</a>, adding thousands of high-return drilling locations to its inventory. Overall, it now controls 6,000 premium drilling locations, which are wells that can generate a 30% after-tax rate of return at flat $40 oil. That's enough to last a decade.</p>
<p>Because of its improvements during the downturn, it now has a clear vision to become a leader in delivering returns-driven growth. To get the ball rolling, EOG Resources expects to deliver 18% oil production growth this year while living within cash flow at $50 oil. However, it has the flexibility to scale output up or down to respond to changes in oil prices. That said, the general trend is toward delivering high-return growth at lower oil prices, which should fuel significant returns to investors over the long term, even if oil prices remain muted.</p>
<p>Image source: ConocoPhillips.</p>
<p>Like EOG Resources, ConocoPhillips spent the downturn transitioning into a low-cost producer. It pushed down operating and drilling costs and strengthened its balance sheet by jettisoning non-core assets, which combined to refocus the company on a vision to grow shareholder returns. Because of that, ConocoPhillips's aim is to deliver double-digit total returns to shareholders on an annual basis.</p>
<p>ConocoPhillips has developed a simple formula to meet this goal, which it believes will grow shareholder returns in any oil price environment. The foundation is a plan to fund at least enough capex to keep production flat, grow the dividend on an annual basis, and protect its A-ratedbalance sheet, which it can comfortably do at $50 oil. Meanwhile, as cash flow increases, the company plans to allocate that excess toward share repurchases and prudent growth. That said, for 2017 it intends to accelerate its strategy by selling $5 billion to $7 billion of non-core natural gas assets, using the cash to reduce debt and repurchase roughly 5% of its stock. Those value-maximizing asset sales could prove to be a catalyst to drive the stock higher even if crude prices remain low.</p>
<p>Occidental Petroleum is slightly different from EOG and ConocoPhillips in that it not only controls a growing oil and gas production business, but it also owns several assets down the value chain in the chemicals and midstream segments. Its most recent investments in those industries are expected to start paying off this year due to the completion of a natural gas project in the Middle East, a chemical plant in the Gulf Coast, and new midstream assets in Texas. These projects should provide an additional $1 billion in annual free cash flow starting this year.</p>
<p>That gives Occidental Petroleum more money to invest in its promising Permian Basin position, which it believes can fuel 20% compound annual production growth at $50 oil. That growth would lift companywide output by 5% to 8% per year, which is a very healthy growth rate for a company of its size. More importantly, this is high-return growth, which should drive earnings up even if crude prices don't budge.</p>
<p>These three companies all have one thing in common: They can thrive at lower oil prices because they each control a low-cost, high-return resource base. Because of that, these companies can deliver robust growth this year even if oil continues to fall. That ability to thrive at lower prices is why I'd have no problem buying any one of those oil stocks for the long term, even though uncertainty surrounding the price of oil is growing.</p>
<p>10 stocks we like better than ConocoPhillipsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=9275b195-f30a-4713-8a6d-392b8e76ad5d&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and ConocoPhillips wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=9275b195-f30a-4713-8a6d-392b8e76ad5d&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of February 6, 2017</p>
<p><a href="http://my.fool.com/profile/TMFmd19/info.aspx" type="external">Matt DiLallo Opens a New Window.</a> owns shares of ConocoPhillips. The Motley Fool owns shares of EOG Resources. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | steadily rising nearly year crude prices crashed last week ending 9 closing 50 barrel first time since november fueling selloff rising oil stockpiles set record last week despite falling global supplies result underinvestment opecs output curbs one culprits driving inventories weak gasoline demand rising shale production us continue reading selloff hit oil stocks hard even toptier producers eog resources nyse eog conocophillips nyse cop occidental petroleum nyse oxy plunging recent weeks eog data ycharts opens new window selloff however looks like buying opportunity longterm investors thats oil stocks fine lower oil prices thanks low costs solid balance sheets heres id consider buying one oil stocks right advertisement eog resources recently put wraps exceptional year companys oil production exceeded high end guidance range thanks significant improvement well productivity meanwhile costs plummeted lease well expenses falling 20 company also completed one best acquisitions year opens new window adding thousands highreturn drilling locations inventory overall controls 6000 premium drilling locations wells generate 30 aftertax rate return flat 40 oil thats enough last decade improvements downturn clear vision become leader delivering returnsdriven growth get ball rolling eog resources expects deliver 18 oil production growth year living within cash flow 50 oil however flexibility scale output respond changes oil prices said general trend toward delivering highreturn growth lower oil prices fuel significant returns investors long term even oil prices remain muted image source conocophillips like eog resources conocophillips spent downturn transitioning lowcost producer pushed operating drilling costs strengthened balance sheet jettisoning noncore assets combined refocus company vision grow shareholder returns conocophillipss aim deliver doubledigit total returns shareholders annual basis conocophillips developed simple formula meet goal believes grow shareholder returns oil price environment foundation plan fund least enough capex keep production flat grow dividend annual basis protect aratedbalance sheet comfortably 50 oil meanwhile cash flow increases company plans allocate excess toward share repurchases prudent growth said 2017 intends accelerate strategy selling 5 billion 7 billion noncore natural gas assets using cash reduce debt repurchase roughly 5 stock valuemaximizing asset sales could prove catalyst drive stock higher even crude prices remain low occidental petroleum slightly different eog conocophillips controls growing oil gas production business also owns several assets value chain chemicals midstream segments recent investments industries expected start paying year due completion natural gas project middle east chemical plant gulf coast new midstream assets texas projects provide additional 1 billion annual free cash flow starting year gives occidental petroleum money invest promising permian basin position believes fuel 20 compound annual production growth 50 oil growth would lift companywide output 5 8 per year healthy growth rate company size importantly highreturn growth drive earnings even crude prices dont budge three companies one thing common thrive lower oil prices control lowcost highreturn resource base companies deliver robust growth year even oil continues fall ability thrive lower prices id problem buying one oil stocks long term even though uncertainty surrounding price oil growing 10 stocks like better conocophillipswhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right conocophillips wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 matt dilallo opens new window owns shares conocophillips motley fool owns shares eog resources motley fool disclosure policy opens new window | 563 |
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<p>The Blessed Hope "Looking for that blessed hope, and the glorious appearing of the great God and our Saviour Jesus Christ; Who gave himself for us, that he might redeem us from all iniquity, and purify unto himself a peculiar people, zealous of good works. These things speak, and exhort, and rebuke with all authority. Let no man despise thee." <a href="http://www.blueletterbible.org/Bible.cfm?b=Tts&amp;c=2" type="external">Titus 2:13-15</a></p>
<p>The Tri-fold power of having the Blessed Hope within us</p>
<p>Titus chapter 2 is an amazing chapter because it tells us that the pretribulation rapture of the church is our 'blessed hope', in which we are to do the following while we wait on His return:</p>
<p>So you see that the Blessed Hope is a means by which God uses it to prepare us and purify us as we wait. It is not simply a "get out of jail free card", it is a refining tool of the Lord to make us ready on a daily basis. After all, death is a reality for over 250,000 people a day every day around the world, with lots of them being bible believing Christians.</p>
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<p>Don't you think that to be "ready at any moment" is a pretty good idea? Having the blessed hope in our lives pushes us towards readiness, and way from stagnation and slothfullness in our spiritual walk with the Lord Jesus.</p>
<p>Salvation is by grace through faith plus nothing strengthens the Blessed Hope</p>
<p>As bible believeing Christians in the age of Grace, we live in a period of time that people of no other dispensation were afforded. Salvation by grace through faith is a gift that we in this life will never understand the full measure of. We read about this in the second chapter of the book of Ephesians:</p>
<p>"But God, who is rich in mercy, for his great love wherewith he loved us, Even when we were dead in sins, hath quickened us together with Christ, (by grace ye are saved;)</p>
<p>And hath raised us up together, and made us sit together in heavenly places in Christ Jesus: That in the ages to come he might shew the exceeding riches of his grace in [his] kindness toward us through Christ Jesus.</p>
<p>For by grace are ye saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast. For we are his workmanship, created in Christ Jesus unto good works, which God hath before ordained that we should walk in them." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;x=0&amp;y=0&amp;b=Eph&amp;c=2&amp;v=1" type="external">Ephesians 2: 4-10</a></p>
<p>We who are saved did nothing to save ourselves, and we do nothing to keep ourselves saved. It is all of the Lord Jesus, this is His great gift to us. We can't fall out, be pulled out, be pushed out, or be talked out of the eternal life He gives us at the moment we recieve this free gift. We can't even jump out! Paul addresses this in the eighth chapter of the book of Romans:</p>
<p>"For I am persuaded, that neither death, nor life, nor angels, nor principalities, nor powers, nor things present, nor things to come, Nor height, nor depth, nor any other creature, shall be able to separate us from the love of God, which is in Christ Jesus our Lord." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;x=0&amp;y=0&amp;b=Rom&amp;c=8&amp;v=1" type="external">Romans 8:38,39</a></p>
<p>God knows that we are redeemed sinners who still have to live everyday in unredeemed bodies of flesh. He knows that we will still commit sin. So He gives us verses like Romans 8 to assure us and comfort us that we can never be separated from His love no matter where we wander. The Prodigal Son, while he lost his inheritance (a picture of loss of <a href="../doctrine/faith-works-and-the-judgment-seat-of-christ.htm" type="external">rewards at the Judgment Seat</a>), he never lost his sonship with the Father.</p>
<p>Of course, it is God's desire to see us not become like the Prodigal, and to strive to live our lives as He would have us to live them.</p>
<p>Beloved, the bible teaches us that Jesus will 'never leave us or forsake us' after we have been saved. That's a promise you can hang your eternal destiny on. His return for His church to take us our before the Tribulation is also another precious promise you may trust with all your heart.</p>
<p>He said He would come get us...and He will. Be ye always ready....this is our BLESSED HOPE.</p>
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<p>"WATCH" By Warren M. Smith.</p>
<p>Oh, the glory fast approaching, of Ascension's happy morn,� When the watchful servants quickly to His bosom shall be borne; When the dear ones left behind us, shall for us oft seek in vain,� But our spirits shall have risen to the Lamb for sinners slain. Caught up in the air to meet Him, oh! the heights and depths of joy, Lengths and breadths of love surpassing, purest bliss wi ' thout alloy;� Now we see with darkened vision, then we'll see Him face to face,� And we will, through countless ages, sing the glories of His grace. Two shall at a mill be grinding, one be taken, one be left,� Two shall in a bed be sleeping, one of these shall be bereft;� Oh, what wonder and amazement, shall the ones on earth, possess,� They shall pass through tribulation, pain, and sorrow and distress. We shall live with Him forever, in the sunshine of His love,� We shall meet to part, no never, with th' angelic host above;� There we'll hear our Father's welcome, as He calls us, one by one, Saying to each one in person, "Faithful servant, 'tis well done." Let us, then, our lamps keep burning, and our wedding garments on,� Ready to go forth to meet Him, when we hear Him say, "I come;� There will be no time to slumber, lest He come whil'st we're asleep And the door be shut between us; let us then our vigil keep.</p>
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<p /> The Blessed Hope the glorious appearing of the great God and our Saviour Jesus Christ The Tri-fold power of having the Blessed Hope within us Looking for Jesus: Denying ungodliness: Speak, exhort and rebuke: Click here | true | 0 | blessed hope looking blessed hope glorious appearing great god saviour jesus christ gave us might redeem us iniquity purify unto peculiar people zealous good works things speak exhort rebuke authority let man despise thee titus 21315 trifold power blessed hope within us titus chapter 2 amazing chapter tells us pretribulation rapture church blessed hope following wait return see blessed hope means god uses prepare us purify us wait simply get jail free card refining tool lord make us ready daily basis death reality 250000 people day every day around world lots bible believing christians dont think ready moment pretty good idea blessed hope lives pushes us towards readiness way stagnation slothfullness spiritual walk lord jesus salvation grace faith plus nothing strengthens blessed hope bible believeing christians age grace live period time people dispensation afforded salvation grace faith gift life never understand full measure read second chapter book ephesians god rich mercy great love wherewith loved us even dead sins hath quickened us together christ grace ye saved hath raised us together made us sit together heavenly places christ jesus ages come might shew exceeding riches grace kindness toward us christ jesus grace ye saved faith gift god works lest man boast workmanship created christ jesus unto good works god hath ordained walk ephesians 2 410 saved nothing save nothing keep saved lord jesus great gift us cant fall pulled pushed talked eternal life gives us moment recieve free gift cant even jump paul addresses eighth chapter book romans persuaded neither death life angels principalities powers things present things come height depth creature shall able separate us love god christ jesus lord romans 83839 god knows redeemed sinners still live everyday unredeemed bodies flesh knows still commit sin gives us verses like romans 8 assure us comfort us never separated love matter wander prodigal son lost inheritance picture loss rewards judgment seat never lost sonship father course gods desire see us become like prodigal strive live lives would us live beloved bible teaches us jesus never leave us forsake us saved thats promise hang eternal destiny return church take us tribulation also another precious promise may trust heart said would come get usand ye always readythis blessed hope watch warren smith oh glory fast approaching ascensions happy morn watchful servants quickly bosom shall borne dear ones left behind us shall us oft seek vain spirits shall risen lamb sinners slain caught air meet oh heights depths joy lengths breadths love surpassing purest bliss wi thout alloy see darkened vision well see face face countless ages sing glories grace two shall mill grinding one taken one left two shall bed sleeping one shall bereft oh wonder amazement shall ones earth possess shall pass tribulation pain sorrow distress shall live forever sunshine love shall meet part never th angelic host well hear fathers welcome calls us one one saying one person faithful servant tis well done let us lamps keep burning wedding garments ready go forth meet hear say come time slumber lest come whilst asleep door shut us let us vigil keep 160 160 blessed hope glorious appearing great god saviour jesus christ trifold power blessed hope within us looking jesus denying ungodliness speak exhort rebuke click | 535 |
<p>President Trump is thanking Russian President Vladimir Putin for expelling 755 staff members from the U.S. embassy in Moscow.</p>
<p>“I want to thank him because we’re trying to cut down our payroll and as far as I’m concerned I’m very thankful that he let go of a large number of people because now we have a smaller payroll,” Trump <a href="https://twitter.com/jaketapper?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor" type="external">stated</a>.</p>
<p>He continued:</p>
<p>There’s no real reason for them to go back. I greatly appreciate the fact that we’ve been able to cut our payroll of the United States. We’re going to save a lot of money.</p>
<p>On its face, Trump’s response to Putin’s embassy purge campaign appears facetious, if not sardonic. However, the president’s background in business lends credence to the theory that Trump is being entirely serious about the reduction to the “payroll.” The fact is, sometimes the things that come out the president’s mouth are entirely meaningless. Other times, he means what he says and his actions back up his words.</p>
<p>On more than one occasion, administration officials have had to correct, reframe, or altogether reword Trump’s impulsive remarks only to be undermined by the president himself in a follow-up rant.</p>
<p>With an ongoing federal investigation into the Trump campaign’s alleged contacts with the Russian government shadowing his presidency, Trump’s playful attitude toward Putin certainly doesn’t help cast aside the perception that the Commander-in-Chief is a little too sympathetic to Moscow, a hostile foreign actor that is engaged in an active effort to undermine U.S. democratic institutions through cyber-warfare.</p>
<p>More to the point, Trump’s cheeky and lighthearted comments about Putin’s expulsion decree downplay the strategic importance of U.S. diplomatic personnel in Russia and Eastern Europe.</p>
<p>As The Daily Wire <a href="" type="internal">reported</a>, Russian intelligence and security operatives have spent the last few years harassing and intimidating American diplomats and embassy personnel all across the European continent.</p>
<p>An alarming <a href="" type="internal">report</a> by The Washington Post’s Josh Rogin revealed that Russian intel have used a variety of intimidation tactics, including killing the dog of one U.S. diplomat, to push American assets further and further from former Soviet satellite states.</p>
<p>Here’s what Rogin reported in June 2016:</p>
<p>… Russian intelligence officials were constantly perpetrating acts of harassment against their diplomatic staff that ranged from the weird to the downright scary. Some of the intimidation has been routine: following diplomats or their family members, showing up at their social events uninvited or paying reporters to write negative stories about them.</p>
<p>But many of the recent acts of intimidation by Russian security services have crossed the line into apparent criminality. In a series of secret memos sent back to Washington, described to me by several current and former U.S. officials who have written or read them, diplomats reported that Russian intruders had broken into their homes late at night, only to rearrange the furniture or turn on all the lights and televisions, and then leave. One diplomat reported that an intruder had defecated on his living room carpet.</p>
<p>Detailing the abuse experienced by U.S. diplomatic personnel and the embassy in Moscow specifically, Rogin explained further:</p>
<p>In Moscow, where the harassment is most pervasive, diplomats reported slashed tires and regular harassment by traffic police. Former ambassador Michael McFaul was hounded by government-paid protesters, and intelligence personnel followed his children to school.</p>
<p>After spending years on a covert program to harass, intimidate, and threaten American assets in Russia and Eastern Europe, Putin finally went out in the open with his anti-Americanism and expelled 755 U.S. embassy staff members in late June of this year.</p>
<p>Rather than condemning Putin in the strongest possible terms, President Trump has chosen to talk about the “payroll.”</p>
<p>Well let’s talk about the “payroll.”</p>
<p>The average U.S. embassy employee makes <a href="https://www.careerbliss.com/us-embassy/salaries/" type="external">$21 an hour, or $44,500 a year</a>. That’s 31% lower than the national average of $61,000 a year. Granted, actual diplomats make a six-figure annual salary, but there are far less diplomats than diplomatic staff. The vast majority of the people expelled by Putin were embassy employees, not diplomats.</p>
<p>And it’s not like U.S. embassy employees simply lose their jobs after a foreign leader demands their expulsion. They get moved around to different countries and posts. More importantly, the amount of money the United States spends on diplomatic staff is negligible compared to the priceless benefits diplomatic work provides. Not only do diplomatic staff (in Russia and Eastern Europe in particular) work with their foreign counterparts to ensure regional stability, but they gather vital intelligence on hostile enemy activities and plans.</p>
<p>Here’s a not-so-secret secret: Nearly every country in the world houses spies in their embassies abroad; the United States is no exception. In all likelihood, some of the embassy staff members were working to obtain intelligence on Russia. Russia is doing the same thing here in the United States. The spy games didn’t end when the Berlin Wall came tumbling down.</p>
<p>Nonetheless, Putin’s expulsion of diplomatic staff is loaded with symbolic weight. He’s projecting his power and Trump is refusing to retaliate in kind. To be fair, Trump’s recent decision to let a sanctions bill (targeting Russia) come to his desk without taking out his veto pen is a step in the right direction, but it’s not enough.</p>
<p>Putin will test Trump the same way he tested former President Obama when the Russian army invaded Crimea and bombed the Syrian opposition into submission. Putin will continue his unfettered power-grab, threatening NATO, U.S. allies and America itself, until the the world’s sole superpower stops bluffing and finally decides to do something about holding the Russian bear accountable.</p> | true | 0 | president trump thanking russian president vladimir putin expelling 755 staff members us embassy moscow want thank trying cut payroll far im concerned im thankful let go large number people smaller payroll trump stated continued theres real reason go back greatly appreciate fact weve able cut payroll united states going save lot money face trumps response putins embassy purge campaign appears facetious sardonic however presidents background business lends credence theory trump entirely serious reduction payroll fact sometimes things come presidents mouth entirely meaningless times means says actions back words one occasion administration officials correct reframe altogether reword trumps impulsive remarks undermined president followup rant ongoing federal investigation trump campaigns alleged contacts russian government shadowing presidency trumps playful attitude toward putin certainly doesnt help cast aside perception commanderinchief little sympathetic moscow hostile foreign actor engaged active effort undermine us democratic institutions cyberwarfare point trumps cheeky lighthearted comments putins expulsion decree downplay strategic importance us diplomatic personnel russia eastern europe daily wire reported russian intelligence security operatives spent last years harassing intimidating american diplomats embassy personnel across european continent alarming report washington posts josh rogin revealed russian intel used variety intimidation tactics including killing dog one us diplomat push american assets former soviet satellite states heres rogin reported june 2016 russian intelligence officials constantly perpetrating acts harassment diplomatic staff ranged weird downright scary intimidation routine following diplomats family members showing social events uninvited paying reporters write negative stories many recent acts intimidation russian security services crossed line apparent criminality series secret memos sent back washington described several current former us officials written read diplomats reported russian intruders broken homes late night rearrange furniture turn lights televisions leave one diplomat reported intruder defecated living room carpet detailing abuse experienced us diplomatic personnel embassy moscow specifically rogin explained moscow harassment pervasive diplomats reported slashed tires regular harassment traffic police former ambassador michael mcfaul hounded governmentpaid protesters intelligence personnel followed children school spending years covert program harass intimidate threaten american assets russia eastern europe putin finally went open antiamericanism expelled 755 us embassy staff members late june year rather condemning putin strongest possible terms president trump chosen talk payroll well lets talk payroll average us embassy employee makes 21 hour 44500 year thats 31 lower national average 61000 year granted actual diplomats make sixfigure annual salary far less diplomats diplomatic staff vast majority people expelled putin embassy employees diplomats like us embassy employees simply lose jobs foreign leader demands expulsion get moved around different countries posts importantly amount money united states spends diplomatic staff negligible compared priceless benefits diplomatic work provides diplomatic staff russia eastern europe particular work foreign counterparts ensure regional stability gather vital intelligence hostile enemy activities plans heres notsosecret secret nearly every country world houses spies embassies abroad united states exception likelihood embassy staff members working obtain intelligence russia russia thing united states spy games didnt end berlin wall came tumbling nonetheless putins expulsion diplomatic staff loaded symbolic weight hes projecting power trump refusing retaliate kind fair trumps recent decision let sanctions bill targeting russia come desk without taking veto pen step right direction enough putin test trump way tested former president obama russian army invaded crimea bombed syrian opposition submission putin continue unfettered powergrab threatening nato us allies america worlds sole superpower stops bluffing finally decides something holding russian bear accountable | 549 |
<p>RICHMOND, Va. -- Pressed for workers, a New Jersey-based software company went hunting for a U.S. city with a surplus of talented employees stuck in dead-end jobs.</p>
<p>Brian Brown, chief operating officer at AvePoint, Inc., struck gold in Richmond. Despite the city's low unemployment rate, the company had no trouble filling 70 jobs there, some at 20% below what it paid in New Jersey. New hires, meanwhile, got more interesting work and healthy raises.</p>
<p>Continue Reading Below</p>
<p>Irvine, Calif.-based mortgage lender Network Capital Funding Corp. opened an office in Miami to scoop up an attractive subset of college graduates -- those who settled for tolerable jobs in exchange for living in a city they loved.</p>
<p>"They were not in real careers," said Tri Nguyen, Network Capital chief executive. He now plans a similar expansion in Philadelphia.</p>
<p>Americans have traditionally moved to find jobs. But with a growing reluctance by workers to relocate, some companies have decided to move closer to potential hires. Firms are expanding to cities with a bounty of underemployed, retrieving men and women from freelance gigs, manual labor and part-time jobs with duties that, one worker said, required only a heartbeat to perform.</p>
<p>With the national jobless rate near a 16-year low, these pockets of underemployment are a wellspring for companies that recognize most new hires already have jobs but can be poached with better pay and room for advancement. That's preferable to competing for higher-priced workers at home.</p>
<p>Mark Williams, the chairman of the board for the Site Selectors Guild, a trade association for firms that help companies scout new locations, said a supply of underemployed workers has joined transportation access and the cost of doing business as factors in deciding where to open plants and offices.</p>
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<p>The matchups pay off for all sides. Companies find qualified workers and keep a lid on labor costs. Employees find better jobs without the financial and emotional cost of relocating, said Sam Schulhofer-Wohl, a senior economist and research adviser with the Federal Reserve Bank of Chicago.</p>
<p>And new employers often return experienced people to full-time work, said Nicholas Bloom, an economics professor at Stanford University, yielding better paychecks and more opportunities for advancement.</p>
<p>Having a deep pool of underemployed people helped Thornton, Colo., where unemployment is below 3%, recently land a new Amazon.com Inc. sorting center slated to hire 1,500 full-time employees, according to a local official. An Amazon spokeswoman said the local workforce is "definitely important" in expansion decisions. (The company last week announced plans to seek a location for a second headquarters. Amazon declined to comment beyond its written materials, which don't mention underemployment as a factor.)</p>
<p>Some job categories that employ largely part-time workers have grown faster than other types of employment. The number of people working at bars and restaurants has risen nearly 25% since the end of the recession in June 2009, while private-sector employment was up about 15%. Additionally, the number of people working in temporary help was up 73% over the same period, in part because many businesses shifted some in their workforces to temporary positions to limit the cost of full-time benefits.</p>
<p>One measure of underemployment is the share or workers in part-time jobs who would prefer to work full time. That makes up some 5.3 million U.S. workers, or about 3.2% of the civilian workforce, federal data from August show. That proportion of underemployed is down from a high of nearly 6% in 2010 but above the 2.8% average in the decade preceding the recession.</p>
<p>In Tulsa, Okla., prospective employers usually cut to the chase and ask for estimates of the city's underemployed, the so-called hidden-labor market, said Brien Thorstenberg, the senior vice president of economic development for the Tulsa Regional Chamber of Commerce.</p>
<p>Tulsa based its talent-pool estimates on worker surveys distributed through local technical and community colleges that gathered information about income, age, skills and a desire for better opportunities.</p>
<p>The chamber in June released a survey showing a 13.5% underemployment rate, compared with an unemployment rate of between 4% and 5%. The analysis revealed a sizable group of people who have been working for three to five years but aren't using the full range of skills from their technical training.</p>
<p>"When it's a tight labor market, it's nice to know," Mr. Thorstenberg said.</p>
<p>Untapped talent</p>
<p>Paula Harvey, vice president of human resources and safety for Schulte Building Systems Inc., a manufacturer of metal buildings based in Hockley, Texas, faced a problem common in an economy at or near full employment.</p>
<p>Schulte, which employs 600, closed a small engineering office in rural Tennessee last year after losing staff. The company could have offered higher pay, Ms. Harvey said, but it made more sense to hire a team of engineers in Louisiana who had been laid off from a similar company.</p>
<p>The hires didn't save money -- the Louisiana workers had more experience -- but the company quickly landed a battle-tested team, Ms. Harvey said.</p>
<p>The company is now considering plans to expand to either Ohio or Indiana, states that have lost manufacturing jobs, Ms. Harvey said. Pay there would likely be lower than in the Houston area but still attractive, she said: "There may be folks living in that area who are underemployed or misemployed who would be excited to work for us."</p>
<p>Last fall, Toronto-based Lynch Fluid Controls Inc. opened its first U.S. shipping-and-receiving warehouse near Buffalo, N.Y.</p>
<p>After assessing several cities, Lynch chose the western New York area, which has suffered a loss of industrial employers over past decades. Unemployment has shrunk but more than 132,000 people, many in prime working years, are underemployed, according to research commissioned by Invest Buffalo Niagara, a regional economic-development group.</p>
<p>"They may be in jobs, but they may be jobs they don't like or don't have the opportunity for advancement," said Ernie Lynch, the president of Lynch, which makes components for hydraulic and motion-control systems.</p>
<p>Mr. Lynch hired a Buffalo recruiter who found one of the company's first hires in her own backyard. That was landscaper Tracy Himmelback, 49 years old. He had spent the previous three years tending lawns and working at a restaurant after leaving a manufacturing supervisory job where staff reductions made him worry about workplace safety, Mr. Himmelback said.</p>
<p>To make ends meet, Mr. Himmelback, a married father of two, took few days off. But the irregular hours, pay dips during winter and the feeling he wasn't using his full abilities weighed on his health, family life and psyche, he said: "You're just a working peon, so to speak."</p>
<p>He had lived in North Tonawanda, N.Y., all his life and said he "never thought of moving. All my family is here."</p>
<p>Now, Mr. Himmelback is a full-time assistant manager at Lynch's new warehouse, just minutes from his home. His pay rose to about $45,000 a year, up from $30,000, with more benefits and fewer hours. Mr. Himmelback said he can afford to let his 11-year-old son play on a travel baseball team, and a regular schedule gives him a chance to coach.</p>
<p>The arrangement also works well for Lynch, which saves on time and shipping costs by having a warehouse closer to the Canadian company's U.S. customers.</p>
<p>Network Capital Funding, the mortgage banking and finance firm in the Southern California city of Irvine, had found it increasingly difficult persuading recruits to relocate. Many millennials aren't "willing to take that risk," said Mr. Nguyen, the chief executive.</p>
<p>Network Capital had a few employees working remotely in Miami, where they reported an oversupply of underemployed. The company opened its Miami office in June 2015 with three people. It now has 50 employees, including college graduates who escaped jobs as waiter, filing clerk and shoe salesman.</p>
<p>Kerissa Nelson joined in February, more than a year after she earned a degree in criminal justice. Ms. Nelson, age 25, had been working part time as a "brand ambassador," hawking vodka at a beach bar, one time, and helping fans play videogames at a baseball festival. The job sometimes required her to wear embarrassing get-ups, she said, and it paid about $1,000 a month.</p>
<p>"I wanted something that matched the time and energy I spent obtaining my degree," Ms. Nelson said. Her job at Network Capital more than tripled her income, she said, and carried an opportunity for raises.</p>
<p>Company salaries are about 15% to 30% less in Miami, Mr. Nguyen said. His mortgage bankers, who rely largely on commissions, are paid the same, he said: "The big difference is that people in California are happy with it, and the people in Florida are ecstatic because it goes a lot farther."</p>
<p>Waffle Wednesdays</p>
<p>New Jersey's AvePoint, which develops and sells software to help corporations manage and protect data, first considered expanding to Virginia in 2015. It faced stiff competition for qualified workers from other technology firms in its home market of Jersey City, N.J., across the Hudson River from New York City.</p>
<p>With help from a consultant, AvePoint reviewed some 20 locales. The firm searched for a midsize city with a highly educated population, Mr. Brown said, and where people took jobs "that were less than their level of education just to stay."</p>
<p>Richmond fit the bill. The city of about 223,000 has cobblestone streets and a popular dining scene. There is white-water rafting and kayaking on the James River, which runs through Richmond, the state capital and home to several universities, including Virginia Commonwealth University.</p>
<p>The city's unemployment was 4% in July, but underemployment was about 12% in the second quarter of 2017, according to the state's economic development authority.</p>
<p>The company could have raised wages in New Jersey, Mr. Brown said, but that was hard to justify when it could find untapped talent elsewhere. AvePoint pays about 20% less in Richmond than in Jersey City. Account specialists, a sales job that pays commission, for instance, earn a starting base salary of $40,000 in Richmond and $50,000 in Jersey City; commissions are the same.</p>
<p>Mr. Brown said his Richmond employees end up with more buying power because of the lower cost of living. Median housing values in Richmond, for instance, were nearly 40% lower than in Jersey City from 2011 to 2015, according to the Census.</p>
<p>AvePoint has found its Richmond crew notably productive, Mr. Brown said, maybe because workers are happy to have found a good job without the headache of moving to another city. The new industrial-chic office in Richmond has a lively staff that breaks for arcade games, yoga and Waffle Wednesdays.</p>
<p>Hunter Willis, a 33-year-old account technical specialist, left his job at call center and doubled his income. Mr. Willis, a college graduate, said he had been "significantly underemployed" before getting hired by AvePoint. He didn't want to move to a bigger city, he said, fearing "two hours a day in traffic."</p>
<p>AvePoint's success has prompted the company to turn Richmond into its operational headquarters, Mr. Brown said. The company plans to have 200 employees there by the end of 2018.</p>
<p>--Eric Morath contributed to this article.</p>
<p>(END) Dow Jones Newswires</p>
<p>September 10, 2017 18:15 ET (22:15 GMT)</p> | true | 0 | richmond va pressed workers new jerseybased software company went hunting us city surplus talented employees stuck deadend jobs brian brown chief operating officer avepoint inc struck gold richmond despite citys low unemployment rate company trouble filling 70 jobs 20 paid new jersey new hires meanwhile got interesting work healthy raises continue reading irvine califbased mortgage lender network capital funding corp opened office miami scoop attractive subset college graduates settled tolerable jobs exchange living city loved real careers said tri nguyen network capital chief executive plans similar expansion philadelphia americans traditionally moved find jobs growing reluctance workers relocate companies decided move closer potential hires firms expanding cities bounty underemployed retrieving men women freelance gigs manual labor parttime jobs duties one worker said required heartbeat perform national jobless rate near 16year low pockets underemployment wellspring companies recognize new hires already jobs poached better pay room advancement thats preferable competing higherpriced workers home mark williams chairman board site selectors guild trade association firms help companies scout new locations said supply underemployed workers joined transportation access cost business factors deciding open plants offices advertisement matchups pay sides companies find qualified workers keep lid labor costs employees find better jobs without financial emotional cost relocating said sam schulhoferwohl senior economist research adviser federal reserve bank chicago new employers often return experienced people fulltime work said nicholas bloom economics professor stanford university yielding better paychecks opportunities advancement deep pool underemployed people helped thornton colo unemployment 3 recently land new amazoncom inc sorting center slated hire 1500 fulltime employees according local official amazon spokeswoman said local workforce definitely important expansion decisions company last week announced plans seek location second headquarters amazon declined comment beyond written materials dont mention underemployment factor job categories employ largely parttime workers grown faster types employment number people working bars restaurants risen nearly 25 since end recession june 2009 privatesector employment 15 additionally number people working temporary help 73 period part many businesses shifted workforces temporary positions limit cost fulltime benefits one measure underemployment share workers parttime jobs would prefer work full time makes 53 million us workers 32 civilian workforce federal data august show proportion underemployed high nearly 6 2010 28 average decade preceding recession tulsa okla prospective employers usually cut chase ask estimates citys underemployed socalled hiddenlabor market said brien thorstenberg senior vice president economic development tulsa regional chamber commerce tulsa based talentpool estimates worker surveys distributed local technical community colleges gathered information income age skills desire better opportunities chamber june released survey showing 135 underemployment rate compared unemployment rate 4 5 analysis revealed sizable group people working three five years arent using full range skills technical training tight labor market nice know mr thorstenberg said untapped talent paula harvey vice president human resources safety schulte building systems inc manufacturer metal buildings based hockley texas faced problem common economy near full employment schulte employs 600 closed small engineering office rural tennessee last year losing staff company could offered higher pay ms harvey said made sense hire team engineers louisiana laid similar company hires didnt save money louisiana workers experience company quickly landed battletested team ms harvey said company considering plans expand either ohio indiana states lost manufacturing jobs ms harvey said pay would likely lower houston area still attractive said may folks living area underemployed misemployed would excited work us last fall torontobased lynch fluid controls inc opened first us shippingandreceiving warehouse near buffalo ny assessing several cities lynch chose western new york area suffered loss industrial employers past decades unemployment shrunk 132000 people many prime working years underemployed according research commissioned invest buffalo niagara regional economicdevelopment group may jobs may jobs dont like dont opportunity advancement said ernie lynch president lynch makes components hydraulic motioncontrol systems mr lynch hired buffalo recruiter found one companys first hires backyard landscaper tracy himmelback 49 years old spent previous three years tending lawns working restaurant leaving manufacturing supervisory job staff reductions made worry workplace safety mr himmelback said make ends meet mr himmelback married father two took days irregular hours pay dips winter feeling wasnt using full abilities weighed health family life psyche said youre working peon speak lived north tonawanda ny life said never thought moving family mr himmelback fulltime assistant manager lynchs new warehouse minutes home pay rose 45000 year 30000 benefits fewer hours mr himmelback said afford let 11yearold son play travel baseball team regular schedule gives chance coach arrangement also works well lynch saves time shipping costs warehouse closer canadian companys us customers network capital funding mortgage banking finance firm southern california city irvine found increasingly difficult persuading recruits relocate many millennials arent willing take risk said mr nguyen chief executive network capital employees working remotely miami reported oversupply underemployed company opened miami office june 2015 three people 50 employees including college graduates escaped jobs waiter filing clerk shoe salesman kerissa nelson joined february year earned degree criminal justice ms nelson age 25 working part time brand ambassador hawking vodka beach bar one time helping fans play videogames baseball festival job sometimes required wear embarrassing getups said paid 1000 month wanted something matched time energy spent obtaining degree ms nelson said job network capital tripled income said carried opportunity raises company salaries 15 30 less miami mr nguyen said mortgage bankers rely largely commissions paid said big difference people california happy people florida ecstatic goes lot farther waffle wednesdays new jerseys avepoint develops sells software help corporations manage protect data first considered expanding virginia 2015 faced stiff competition qualified workers technology firms home market jersey city nj across hudson river new york city help consultant avepoint reviewed 20 locales firm searched midsize city highly educated population mr brown said people took jobs less level education stay richmond fit bill city 223000 cobblestone streets popular dining scene whitewater rafting kayaking james river runs richmond state capital home several universities including virginia commonwealth university citys unemployment 4 july underemployment 12 second quarter 2017 according states economic development authority company could raised wages new jersey mr brown said hard justify could find untapped talent elsewhere avepoint pays 20 less richmond jersey city account specialists sales job pays commission instance earn starting base salary 40000 richmond 50000 jersey city commissions mr brown said richmond employees end buying power lower cost living median housing values richmond instance nearly 40 lower jersey city 2011 2015 according census avepoint found richmond crew notably productive mr brown said maybe workers happy found good job without headache moving another city new industrialchic office richmond lively staff breaks arcade games yoga waffle wednesdays hunter willis 33yearold account technical specialist left job call center doubled income mr willis college graduate said significantly underemployed getting hired avepoint didnt want move bigger city said fearing two hours day traffic avepoints success prompted company turn richmond operational headquarters mr brown said company plans 200 employees end 2018 eric morath contributed article end dow jones newswires september 10 2017 1815 et 2215 gmt | 1,148 |
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<p>Image source: Oxitec.</p>
<p>Continue Reading Below</p>
<p>On Tuesday, ballots in the Florida Keys will include the question of whether or not to release genetically modified mosquitoes there that could control the spread of mosquito-borne diseases such as Zika virus and yellow fever.</p>
<p>The <a href="http://keysmosquito.org/latest-gm-information/" type="external">two non-binding referendums Opens a New Window.</a> will help to set the course for engineered biology conglomerate Intrexon (NYSE: XON) and its subsidiary Oxitec, determining whether or not they gain approval and can launch their innovative tool in Florida. The vote has big implications for the company, investors, and public health.</p>
<p>Similar to a presidential campaign, Intrexon and Oxitec have been executing a carefully planned ground game in Florida in recent years: working closely with local government, answering questions at town hall meetings, and taking their message directly to the public to explain the benefits of their approach to controlling wild mosquito populations. Their self-limiting mosquito technology works relatively simply. Mosquitoes that have been genetically modified with a lethal gene are released. They mate with wild mosquitoes, and produce offspring bearing the lethal gene, which ensures that the next generation of mosquitoes don't survive to adulthood (and that the gene doesn't persist in the wild). And since only non-biting male mosquitoes are released, the technology has earned the nickname the "Friendly Mosquito."</p>
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<p>It's a markedly better approach than the standard control methods used today, which mostly rely on spraying insecticides over wide areas. While the status quo approach kills mosquitoes, it also kills insects that aren't being targeted, including beneficial ones such as honeybees, and it can harm other organisms in the environment. Insecticides are also not very efficient, since they need to be applied repeatedly to control mosquito populations.</p>
<p>Intrexon's self-limiting technology, on the other hand, only targets one specific species of mosquito -- Aedes aegpyti, which lives throughout the United States and is responsible for spreading Zika and other diseases -- without affecting other organisms. It can also be used to control wild populations indefinitely with an efficiency that improves over time: As wild populations decline, fewer genetically modified mosquitoes need to be released to keep them in check.</p>
<p>Habitat range of Aedes aegypti mosquitoes in the United States. Image source: CDC.</p>
<p>The companies are already protecting up to 60,000 residents in the city of Piracicaba, Brazil (more if you factor in individuals passing through those regions of the city on their daily commute). A factory opened near the city last month will have the capacity to produce enoughmosquitoes to protect all 1.4 million people in the metropolitan area, and perhaps up to double that amount. That represents a sizable product revenue stream for Intrexon, especially at the contracted rate of $8 to $10 in revenue per protected individual.</p>
<p>Thisgenetically modified mosquito technology still needs to obtain regulatory approval in the United States. There are a few moving parts within the approval process, which has several parallels to a drug trial for a pharmaceutical company. (The mosquitoes will in fact be regulated as an animal drug.)</p>
<p>First, the Food and Drug Administration needed to determine whether the genetically engineered mosquitoes are safe to use, much like a phase 1 clinical trial tests a pharmaceutical drug candidate for safety. Since the mosquitoes will be released into the environment, this requirement considers the potential effects on humans and natural ecosystems. This step was completed when the FDA finalized its finding that self-limiting insects will have no significant impact on the environment.</p>
<p>Next, Intrexon and Oxitec need to conduct open field trials to determine the efficacy of releasing their self-limiting mosquitoes to control wild mosquito populations. The field trials, which will take four to six months to complete, are akin to a phase 2 and phase 3 trial for a human drug. The data collected from these studies will be compared to the companies' claims and sent to the FDA. Potential approval would apply at the national level, although individual states could decide to require additional testing.</p>
<p>There's just one thing: The field trials need the approval of the local government to proceed. But rather than make a unilateral decision on the matter, the Florida Keys Mosquito Control Board -- one of the largest and most active in the world -- is allowing residents in Key Haven and Monroe County to weigh in with a non-binding referendum on Nov. 8. Thus, the importance of Election Day to Intrexon and its investors.The longer the process of getting approval drags out in the United States, the longer it will take to begin generating revenue in places desperate for more effective mosquito control tools.</p>
<p>Investors will note that the vote will take place as part of a non-binding referendum. That means voters could reject the measure and the local government could still decide to allow Intrexon and Oxitec to proceed with open field trials. But I suspect that extra procedures would be added in that scenario, which would further delay the regulatory and approval processes. Without a positive outcome in the referendum, investors might not see the technology platform begin generating revenue in North America until mid- to late-2018 or later.</p>
<p>The simple fact is that the easiest path forward for bringing the mosquito-control technology to the market is for residents in the Florida Keys to approve the measure. If that occurs, then Intrexon and Oxitec could obtain FDA approval by mid-2017. That would set the stage for revenue generation in a large new market, and could forever change the way we combat disease-carrying mosquitoes. It's one more reason to keep your eyes on the battleground state of Florida.</p>
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<p>The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source oxitec continue reading tuesday ballots florida keys include question whether release genetically modified mosquitoes could control spread mosquitoborne diseases zika virus yellow fever two nonbinding referendums opens new window help set course engineered biology conglomerate intrexon nyse xon subsidiary oxitec determining whether gain approval launch innovative tool florida vote big implications company investors public health similar presidential campaign intrexon oxitec executing carefully planned ground game florida recent years working closely local government answering questions town hall meetings taking message directly public explain benefits approach controlling wild mosquito populations selflimiting mosquito technology works relatively simply mosquitoes genetically modified lethal gene released mate wild mosquitoes produce offspring bearing lethal gene ensures next generation mosquitoes dont survive adulthood gene doesnt persist wild since nonbiting male mosquitoes released technology earned nickname friendly mosquito advertisement markedly better approach standard control methods used today mostly rely spraying insecticides wide areas status quo approach kills mosquitoes also kills insects arent targeted including beneficial ones honeybees harm organisms environment insecticides also efficient since need applied repeatedly control mosquito populations intrexons selflimiting technology hand targets one specific species mosquito aedes aegpyti lives throughout united states responsible spreading zika diseases without affecting organisms also used control wild populations indefinitely efficiency improves time wild populations decline fewer genetically modified mosquitoes need released keep check habitat range aedes aegypti mosquitoes united states image source cdc companies already protecting 60000 residents city piracicaba brazil factor individuals passing regions city daily commute factory opened near city last month capacity produce enoughmosquitoes protect 14 million people metropolitan area perhaps double amount represents sizable product revenue stream intrexon especially contracted rate 8 10 revenue per protected individual thisgenetically modified mosquito technology still needs obtain regulatory approval united states moving parts within approval process several parallels drug trial pharmaceutical company mosquitoes fact regulated animal drug first food drug administration needed determine whether genetically engineered mosquitoes safe use much like phase 1 clinical trial tests pharmaceutical drug candidate safety since mosquitoes released environment requirement considers potential effects humans natural ecosystems step completed fda finalized finding selflimiting insects significant impact environment next intrexon oxitec need conduct open field trials determine efficacy releasing selflimiting mosquitoes control wild mosquito populations field trials take four six months complete akin phase 2 phase 3 trial human drug data collected studies compared companies claims sent fda potential approval would apply national level although individual states could decide require additional testing theres one thing field trials need approval local government proceed rather make unilateral decision matter florida keys mosquito control board one largest active world allowing residents key monroe county weigh nonbinding referendum nov 8 thus importance election day intrexon investorsthe longer process getting approval drags united states longer take begin generating revenue places desperate effective mosquito control tools investors note vote take place part nonbinding referendum means voters could reject measure local government could still decide allow intrexon oxitec proceed open field trials suspect extra procedures would added scenario would delay regulatory approval processes without positive outcome referendum investors might see technology platform begin generating revenue north america mid late2018 later simple fact easiest path forward bringing mosquitocontrol technology market residents florida keys approve measure occurs intrexon oxitec could obtain fda approval mid2017 would set stage revenue generation large new market could forever change way combat diseasecarrying mosquitoes one reason keep eyes battleground state florida secret billiondollar stock opportunity worlds biggest tech company forgot show something wall street analysts fool didnt miss beat theres small company thats powering brandnew gadgets coming revolution technology think stock price nearly unlimited room run early intheknow investors one click opens new window maxx chatsko opens new window position stocks mentioned follow twitter opens new windowto keep 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<p>On July 13, Rep. Trent Franks (R-AZ) offered an amendment to H.R. 2810 which would have required the Secretary of Defense to “conduct two concurrent strategic assessments” on “the use of violent or unorthodox Islamic religious doctrine to support extremist or terrorist messaging and justification” in order to better understand the root of modern day terror at the hands of radical Muslims.</p>
<p>House Amendment 185 was defeated the following day, 208 to 217.</p>
<p>The usual suspects cheered the amendment’s defeat. <a href="http://www.politico.com/story/2017/07/13/house-vote-study-of-islam-240537" type="external">Politico</a> quotes Rep. Keith Ellison (D-MN): “If you have an amendment that says we're going to study one religion and only one, we're going to look at their leaders and put them on a list — only them — and you are going to talk about what's orthodox practice and what's unorthodox, then you are putting extra scrutiny on that religion.”</p>
<p>Franks hit back, saying: “Right now, there is a certain spectrum within the Islamist world that is at the root of the ideological impulse for terrorism. … Ironically, Muslims are the prime targets of these groups. To suggest that this is anti-Muslim is a fallacy, and I think that anyone who really understands it knows that.”</p>
<p>He added that “it is important that we empower America to identify those heroic Muslims within the world that will help us begin to delegitimize this ideology of global jihad."</p>
<p>Upon the defeat of the amendment, Ellison took to Twitter:</p>
<p>The Daily Wire spoke with Rep. Franks to better understand his thought process regarding the amendment, how it would have functioned, and how he plans to move forward following its defeat.</p>
<p>Franks, who chairs the Religious Freedom Caucus, said the notion that the amendment was an attack on religious freedom is “ridiculous beyond articulation.”</p>
<p>Franks stressed the importance of dissecting motivations, noting that “in the case of almost every major enemy we’ve ever had in America, we've tried to study the ideological impulses behind it so that we could more effectively combat it.”</p>
<p>If the United States doesn’t “engage this on a strategic level; if tactics are all that we employ, then it becomes a matter of killing the enemy without trying to prevent new combatants from taking their place.”</p>
<p>Regarding what the amendment would have sought to achieve, Franks said:</p>
<p>This amendment would have empowered the Department of Defense to study the kind of ideological impulses that animate Islamist terrorism so that we can more effectively fight it, not just on a tactical level, but on a strategic one as well.</p>
<p>The DoD would “study individuals who have been captured on the battlefield, or study the background of terrorists. They would also examine their writings, and the things that they proclaim in their manifestos, so that we could begin to ascertain the patterns that foment terrorism or foment terrorists.”</p>
<p>Digging up the ideological roots of the enemy is paramount, because “if you can take away the motivation,” asserted Franks, you can unravel the larger structure.</p>
<p>We do this in every other area of criminal activity. Why can't we study the ideological genesis and impulses of an activity that leads to the murder of innocent men, women, and children all over the world?</p>
<p>Going further, the congressman stated:</p>
<p>Once we understand the impulse behind jihad, it becomes incumbent upon us to find those heroic individuals within the Muslim community to be the best voices to counteract, condemn, and eviscerate it. The legislation specifically said that we would seek out courageous individuals within the Muslim world to be able to strategically defeat, rhetorically and ideologically, that spectrum of Islamist ideology that animates most of the terrorism we see in the world.</p>
<p>In a territory as sensitive as faith, it’s “going to be difficult for typical American voices to be as effective as people within that particular religious community.”</p>
<p>Speaking of the 208 to 217 defeat, Franks said: “If this weren't a life and death situation, I suppose I could countenance either the ignorance or the cowardice much more willingly — but the fact is that the amendment, had it been adopted, would have, over time I believe, saved many lives. It would have saved Muslim lives, as well as lives from every major religious persuasion one could imagine.”</p>
<p>When asked why he believed the amendment was defeated, Franks did not hold back:</p>
<p>The Democrats have found a magic recipe. If they vote against America every time, all the time, in every way that they possibly can, they'll remain within the confines of their newfound party identity.</p>
<p>As for the Republicans who voted against it:</p>
<p>A few simply buy the ridiculous propaganda that if you want to ideologically combat terrorism, you have to be against everyone in the broader religious faith that some of the terrorists cite when they murder the innocent.</p>
<p>The congressman would like the amendment to be proposed again, adding: “I believe it would have saved lives, and maybe would have catalyzed a concept in the minds of a broader spectrum of experts that could have led to the unraveling and effective combating of this ideology.”</p>
<p>The Daily Wire also spoke with Eugene Volokh, UCLA professor of law and First Amendment scholar.</p>
<p>We asked the professor if Rep. Franks’ bill was a violation of the First Amendment, as Rep. Ellison suggested. Volokh flatly stated that such a study “would be constitutionally permissible.”</p>
<p>He continued: “I think the government is entitled to study the strategic impact of any important ideological movements and belief systems, especially ones that have undoubted effect on the world and on America. That includes religious movements and belief systems, either narrow ones (such as jihadist branches of Islam) or broader ones (such as Islam more broadly). I certainly hope parts of the government are already studying this.”</p>
<p>You can read the text of the amendment in its entirety <a href="http://amendments-rules.house.gov/amendments/FRANKS_019_xml76171525292529.pdf" type="external">here</a>.</p> | true | 0 | july 13 rep trent franks raz offered amendment hr 2810 would required secretary defense conduct two concurrent strategic assessments use violent unorthodox islamic religious doctrine support extremist terrorist messaging justification order better understand root modern day terror hands radical muslims house amendment 185 defeated following day 208 217 usual suspects cheered amendments defeat politico quotes rep keith ellison dmn amendment says going study one religion one going look leaders put list going talk whats orthodox practice whats unorthodox putting extra scrutiny religion franks hit back saying right certain spectrum within islamist world root ideological impulse terrorism ironically muslims prime targets groups suggest antimuslim fallacy think anyone really understands knows added important empower america identify heroic muslims within world help us begin delegitimize ideology global jihad upon defeat amendment ellison took twitter daily wire spoke rep franks better understand thought process regarding amendment would functioned plans move forward following defeat franks chairs religious freedom caucus said notion amendment attack religious freedom ridiculous beyond articulation franks stressed importance dissecting motivations noting case almost every major enemy weve ever america weve tried study ideological impulses behind could effectively combat united states doesnt engage strategic level tactics employ becomes matter killing enemy without trying prevent new combatants taking place regarding amendment would sought achieve franks said amendment would empowered department defense study kind ideological impulses animate islamist terrorism effectively fight tactical level strategic one well dod would study individuals captured battlefield study background terrorists would also examine writings things proclaim manifestos could begin ascertain patterns foment terrorism foment terrorists digging ideological roots enemy paramount take away motivation asserted franks unravel larger structure every area criminal activity cant study ideological genesis impulses activity leads murder innocent men women children world going congressman stated understand impulse behind jihad becomes incumbent upon us find heroic individuals within muslim community best voices counteract condemn eviscerate legislation specifically said would seek courageous individuals within muslim world able strategically defeat rhetorically ideologically spectrum islamist ideology animates terrorism see world territory sensitive faith going difficult typical american voices effective people within particular religious community speaking 208 217 defeat franks said werent life death situation suppose could countenance either ignorance cowardice much willingly fact amendment adopted would time believe saved many lives would saved muslim lives well lives every major religious persuasion one could imagine asked believed amendment defeated franks hold back democrats found magic recipe vote america every time time every way possibly theyll remain within confines newfound party identity republicans voted simply buy ridiculous propaganda want ideologically combat terrorism everyone broader religious faith terrorists cite murder innocent congressman would like amendment proposed adding believe would saved lives maybe would catalyzed concept minds broader spectrum experts could led unraveling effective combating ideology daily wire also spoke eugene volokh ucla professor law first amendment scholar asked professor rep franks bill violation first amendment rep ellison suggested volokh flatly stated study would constitutionally permissible continued think government entitled study strategic impact important ideological movements belief systems especially ones undoubted effect world america includes religious movements belief systems either narrow ones jihadist branches islam broader ones islam broadly certainly hope parts government already studying read text amendment entirety | 524 |
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<p>When planning for retirement, boomers need to consider two scenarios: what happens to their estate when they die, and what happens to the estate if they live but aren’t healthy and need to rely on others for assistance on a permanent basis.</p>
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<p>Creating an estate plan can help protect boomers’ assets and make sure their wishes are played out in the event of death or if they become disabled and need long-term care and support.</p>
<p>David Cutner, partner at <a href="http://www.lamson-cutner.com" type="external">Lamson &amp; Cutner Opens a New Window.</a>, attorneys for the elderly and disabled offered the following tips for both estate planning and long-term care for boomers:</p>
<p>Boomer: Why should I hire an elder law attorney?</p>
<p>Cutner: Most seniors today ignore the greatest financial risk they are facing -- the ruinous costs of long-term care.&#160; According to the U.S. Department of Health, 70% of our population over the age of 65 will need some type of long-term care, and more than 40% will need nursing home care for some period of time.</p>
<p>Most people don’t have insurance coverage for this risk (note that Medicare doesn’t cover long-term care), and, if care is needed, their life's savings will be rapidly depleted and their homes may end up in jeopardy as well if they need it to finance their costs.</p>
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<p>Fortunately, solutions are available to protect assets and income, while accessing long-term care benefits under government programs such as Medicaid.&#160; An elder law attorney will have the knowledge and experience to provide the advice that you need, and will be able to implement proper and reliable strategies to achieve your goals in this area.&#160; It just makes sense at least to have a consultation with an elder law attorney to learn about your options and correct any mistakes you may have made along the way.</p>
<p>Boomer: What makes up a well-designed estate plan?</p>
<p>Cutner: A lot of people worry or wonder about estate taxes, but with the federal exemption now over $5 million, the truth is that only about one-tenth of 1% (0.1%) of estates pays federal estate tax.</p>
<p>However, having a well-designed estate plan still makes a lot of sense to make sure that your assets are passed on in the most efficient way to your beneficiaries and avoid conflicts among your heirs and to minimize court costs and proceedings (probate or administration).</p>
<p>At the same time, I believe that a well-designed estate plan must take into account the financial risks of health care that may be needed, especially long-term care.&#160;Otherwise, you could wind up with no assets in the estate, and it won't matter how good your estate plan was.&#160; Your Elder Law planning will avoid or minimize these risks, resulting in a larger estate in most cases. The legal documents used to implement your elder law plan (typically one or more trusts) are also your estate planning documents -- they help protect your assets from the ruinous costs of long-term care during your lifetime, and they provide for distribution of those assets according to your wishes at the time of your death.</p>
<p>Boomer: What are some common long-term care mistakes and how can I avoid them?</p>
<p>Cutner:&#160;The list of possible mistakes is a long one:</p>
<p>1) Don't tie up your money in long-term investments where you have no liquidity, or have to pay a penalty to get your money back (e.g., annuities).</p>
<p>2) If you are considering long-term care insurance, make sure that the benefits are adequate, that you have an inflation rider and that you can afford the premium (including any likely increases in premium over time). You don't want to find that you do not have sufficient cash flows to cover gaps in coverage, and then have to rapidly deplete your assets to supplement your insurance.</p>
<p>3) Make sure that you have proper and adequate advance directives in place, i.e., power of attorney and health care proxy.&#160; Be aware that "standard forms" downloaded from the Internet may not be valid, or may lack an adequate scope of powers.&#160; The alternative is likely to be an expensive and frustrating guardianship proceeding in court.</p>
<p>4) Poor management of your real estate, e.g., life estates or reverse mortgages can have unfortunate consequences in some cases.</p>
<p>5) Failing to take advantage of possible penalty-free transfers when applying for government benefits such as Medicaid, and spending down on private pay home or nursing home care.&#160; Most people believe that they must spend down their life's savings before they can apply for Medicaid, but this is simply not true.</p>
<p>6) Don't stay in an investment that should be sold to diversify just because you don't want to pay capital gains taxes. Taxes should always be considered but a good investment strategy must consider the risk of staying in one or two investments that could lose value, especially if you may need funds for your long-term care needs.</p>
<p>Boomer: What are the top estate planning mistakes and how can I avoid them?</p>
<p>Cutner: Most mistakes can be avoided, but here’s a look at a few common ones:</p>
<p>1) Failing to plan for liabilities and expenses that can be foreseen -- particularly long-term care.</p>
<p>2) Failing to update beneficiary designations on bank accounts, investment accounts, retirement accounts, and insurance policies.&#160; Don't just "set it and forget it."</p>
<p>3) Failing to take steps to avoid conflicts and potential litigation among heirs and family members.&#160; A Trust or Will that makes your intentions clear about excluding, as well as including, certain people as beneficiaries can be very helpful.</p>
<p>4) Downloading a will from a legal software company online and signing the document without consulting an attorney.&#160; These forms may not comply with the law of your state, and a computer program cannot provide you with proper advice.</p>
<p>5) Transfers of real estate during lifetime, rather than through wills or trusts, may result in high capital gains taxes that could have been avoided.</p> | true | 0 | planning retirement boomers need consider two scenarios happens estate die happens estate live arent healthy need rely others assistance permanent basis continue reading creating estate plan help protect boomers assets make sure wishes played event death become disabled need longterm care support david cutner partner lamson amp cutner opens new window attorneys elderly disabled offered following tips estate planning longterm care boomers boomer hire elder law attorney cutner seniors today ignore greatest financial risk facing ruinous costs longterm care160 according us department health 70 population age 65 need type longterm care 40 need nursing home care period time people dont insurance coverage risk note medicare doesnt cover longterm care care needed lifes savings rapidly depleted homes may end jeopardy well need finance costs advertisement fortunately solutions available protect assets income accessing longterm care benefits government programs medicaid160 elder law attorney knowledge experience provide advice need able implement proper reliable strategies achieve goals area160 makes sense least consultation elder law attorney learn options correct mistakes may made along way boomer makes welldesigned estate plan cutner lot people worry wonder estate taxes federal exemption 5 million truth onetenth 1 01 estates pays federal estate tax however welldesigned estate plan still makes lot sense make sure assets passed efficient way beneficiaries avoid conflicts among heirs minimize court costs proceedings probate administration time believe welldesigned estate plan must take account financial risks health care may needed especially longterm care160otherwise could wind assets estate wont matter good estate plan was160 elder law planning avoid minimize risks resulting larger estate cases legal documents used implement elder law plan typically one trusts also estate planning documents help protect assets ruinous costs longterm care lifetime provide distribution assets according wishes time death boomer common longterm care mistakes avoid cutner160the list possible mistakes long one 1 dont tie money longterm investments liquidity pay penalty get money back eg annuities 2 considering longterm care insurance make sure benefits adequate inflation rider afford premium including likely increases premium time dont want find sufficient cash flows cover gaps coverage rapidly deplete assets supplement insurance 3 make sure proper adequate advance directives place ie power attorney health care proxy160 aware standard forms downloaded internet may valid may lack adequate scope powers160 alternative likely expensive frustrating guardianship proceeding court 4 poor management real estate eg life estates reverse mortgages unfortunate consequences cases 5 failing take advantage possible penaltyfree transfers applying government benefits medicaid spending private pay home nursing home care160 people believe must spend lifes savings apply medicaid simply true 6 dont stay investment sold diversify dont want pay capital gains taxes taxes always considered good investment strategy must consider risk staying one two investments could lose value especially may need funds longterm care needs boomer top estate planning mistakes avoid cutner mistakes avoided heres look common ones 1 failing plan liabilities expenses foreseen particularly longterm care 2 failing update beneficiary designations bank accounts investment accounts retirement accounts insurance policies160 dont set forget 3 failing take steps avoid conflicts potential litigation among heirs family members160 trust makes intentions clear excluding well including certain people beneficiaries helpful 4 downloading legal software company online signing document without consulting attorney160 forms may comply law state computer program provide proper advice 5 transfers real estate lifetime rather wills trusts may result high capital gains taxes could avoided | 549 |
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<p>Medco Crown Entertainment turned in another disappointing quarter at its new Studio City resort, as well as at its other Macau-based operations, undoubtedly causing concern at rivals that will be opening their own venues soon. Image source: Studio City.</p>
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<p>Casino operator Melco Crown Entertainment (NASDAQ: MPEL) reported higher earnings for the second quarter, but you won't find industry peers such as Las Vegas Sands (NYSE: LVS) or Wynn Resorts (NASDAQ: WYNN) cheering the results, and not because of any competitive jealousy, either. The Asian resort operator's better performance wasn't the result of its primary Macau-based casinos, which continued to disappoint, but rather its City of Dreams Manila resort hit a hot streak. That means those operators planning to open new resorts in China's island oasis in the days and weeks ahead still have a lot to worry about.</p>
<p>Macau, of course, has been on a well-publicized 26-month skein of ever lower gambling revenues, and though the decline seems to be nearing a bottom, there aren't any indications it's reached an inflection point. Worse, the big bets casinos are making on turning the Cotai Strip into a <a href="http://www.fool.com/investing/2016/06/28/will-wynn-and-sands-follow-melco-crowns-lead.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Las Vegas-like market Opens a New Window.</a> of family-friendly entertainment with mass appeal isn't paying off as expected.</p>
<p>Beijing's crackdown on luxury and corruption, while at the same time forcing casinos to introduce more mass -market table games, has adversely affected China's gambling mecca. The VIP gamblers that were the mainstay of Macau and made it the <a href="http://www.fool.com/investing/2016/07/22/can-vip-gamblers-coexist-with-theme-parks-in-cotai.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">third richest locale Opens a New Window.</a> in the world are now looking elsewhere for gambling opportunities, causing monthly gambling revenues to fall by nearly half from their peak two years ago. Yet the investments the casinos made for gambling and entertainment that would appeal to a broader segment of the Chinese population hasn't made up the difference.</p>
<p>Data source: Gaming Inspection and Coordination Bureau. Chart by author.</p>
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<p>In Melco Crown's second-quarter report, it said mass-market table game drop at its Macau City of Dreams fell 14% to just over $1 billion and was down 25% at Altira Macau, while its new Studio City on Cotai, which went all in on mass market entertainment by excluding all VIP table games from the resort, generated a disappointing $184 million in net revenues, its second straight quarter of poor performance since opening last October.</p>
<p>The results have alarmed executives enough that they've switched a few VIP tables into Studio City to help bolster its performance.</p>
<p>City of Dreams Manila, on the other hand, saw mass-market table game drop jump 15% from last year.</p>
<p>That's got to worry Wynn Resorts, since its new Palace opens on Aug. 22 and it has warned that it may not get any more than <a href="http://www.fool.com/investing/2016/08/05/is-wynn-resorts-ltd-in-trouble-in-macau.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">100 table games Opens a New Window.</a> allotted it by the island's gambling regulators. That's half the number Melco Crown got for Studio City before it opened (it was granted another 50 games afterwards), which is the same asGalaxy Entertainment got for its casino that had previouslyopened.</p>
<p>The sparse numbers were what caused Melco Crown to initially say it wouldn't have any VIP tables at Studio City, figuring it couldn't afford to give up any mass-market tables, which tend to be more profitable.</p>
<p>Las Vegas Sands must also be troubled by the results, because its mass market-oriented <a href="http://www.fool.com/investing/2016/08/02/sheldon-adelson-says-tourists-will-save-macaus-cas.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Parisian resort Opens a New Window.</a> will follow the Palace and open in September, and it, too, has to wonder just how many tables it will be assigned. MGM Resorts (NYSE: MGM) recently announced that it was now delaying the opening of its mass-market MGM Cotai until the second quarter of 2017.</p>
<p>Of course, as more non-gambling entertainment venues open there's the chance they'll create a critical mass of demand that meets the burgeoning supply. One or two attractions might not be enough of a draw, where a half-dozen or more could very well be the ticket to more tourism. But there's also a massive amount of capacity being added that, with China's slowing economy, could just as likely -- maybe even more so -- end up being a drag.</p>
<p>Having invested billions into their projects there's nothing Las Vegas Sands, Wynn Resorts, or MGM Resorts can do other than ride it out, but Melco Crown Entertainment's quarterly results can't be giving them much comfort, either.</p>
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<p><a href="http://my.fool.com/profile/TMFCop/info.aspx" type="external">Rich Duprey Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | medco crown entertainment turned another disappointing quarter new studio city resort well macaubased operations undoubtedly causing concern rivals opening venues soon image source studio city continue reading casino operator melco crown entertainment nasdaq mpel reported higher earnings second quarter wont find industry peers las vegas sands nyse lvs wynn resorts nasdaq wynn cheering results competitive jealousy either asian resort operators better performance wasnt result primary macaubased casinos continued disappoint rather city dreams manila resort hit hot streak means operators planning open new resorts chinas island oasis days weeks ahead still lot worry macau course wellpublicized 26month skein ever lower gambling revenues though decline seems nearing bottom arent indications reached inflection point worse big bets casinos making turning cotai strip las vegaslike market opens new window familyfriendly entertainment mass appeal isnt paying expected beijings crackdown luxury corruption time forcing casinos introduce mass market table games adversely affected chinas gambling mecca vip gamblers mainstay macau made third richest locale opens new window world looking elsewhere gambling opportunities causing monthly gambling revenues fall nearly half peak two years ago yet investments casinos made gambling entertainment would appeal broader segment chinese population hasnt made difference data source gaming inspection coordination bureau chart author advertisement melco crowns secondquarter report said massmarket table game drop macau city dreams fell 14 1 billion 25 altira macau new studio city cotai went mass market entertainment excluding vip table games resort generated disappointing 184 million net revenues second straight quarter poor performance since opening last october results alarmed executives enough theyve switched vip tables studio city help bolster performance city dreams manila hand saw massmarket table game drop jump 15 last year thats got worry wynn resorts since new palace opens aug 22 warned may get 100 table games opens new window allotted islands gambling regulators thats half number melco crown got studio city opened granted another 50 games afterwards asgalaxy entertainment got casino previouslyopened sparse numbers caused melco crown initially say wouldnt vip tables studio city figuring couldnt afford give massmarket tables tend profitable las vegas sands must also troubled results mass marketoriented parisian resort opens new window follow palace open september wonder many tables assigned mgm resorts nyse mgm recently announced delaying opening massmarket mgm cotai second quarter 2017 course nongambling entertainment venues open theres chance theyll create critical mass demand meets burgeoning supply one two attractions might enough draw halfdozen could well ticket tourism theres also massive amount capacity added chinas slowing economy could likely maybe even end drag invested billions projects theres nothing las vegas sands wynn resorts mgm resorts ride melco crown entertainments quarterly results cant giving much comfort either secret billiondollar stock opportunity worlds biggest tech company forgot show something wall street analysts fool didnt miss beat theres small company thats powering brandnew gadgets coming revolution technology think stock price nearly unlimited room run early intheknow investors one click opens new window rich duprey opens new window position stocks mentioned motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 525 |
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<p><a href="http://www.pcmag.com/article2/0,2817,2488631,00.asp" type="external">Microsoft's Windows 10 Opens a New Window.</a> <a type="external" href="" /> Anniversary Update introduced a host of cool new features for <a href="http://www.pcmag.com/slideshow/story/346415/10-cool-new-features-in-windows-10-anniversary-update" type="external">consumers Opens a New Window.</a>. Enhanced Cortana functionality, Windows Hello authentication for third-party applications, and a redesigned Windows Store are just a few of the updates that are designed to improve the one-year-old operating system (OS).</p>
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<p>However, in Microsoft's never-ending quest to be the <a href="http://www.pcmag.com/news/346028/microsoft-to-offer-subscription-based-windows-10-to-the-ente" type="external">OS of choice for business Opens a New Window.</a> as well as general users, the company also introduced new Windows 10 features specific to the enterprise. Mostly focused on <a href="http://www.pcmag.com/article2/0,2817,2492322,00.asp" type="external">security Opens a New Window.</a>, the IT-focused Anniversary Updates are minor tweaks that won't upend the user experience (UX) but they are likely to put a smile on the face of IT administrators and their bosses. The changes, which are primarily (but not exclusively) security-related, are designed to simplify data protection, improve workflow management, and enable remote collaboration.</p>
<p>In this article, we'll examine seven Windows 10 Anniversary Update features that IT professionals will love.</p>
<p>1. Windows Information ProtectionWindows Information Protection (WIP) is a new Windows 10 feature that gives businesses the ability to encrypt enterprise data as it's downloaded to an employee-owned device. Here's an example of what WIP is trying to safeguard against: If your human resources (HR) manager copies and pastes sensitive employee data from <a href="http://www.pcmag.com/article2/0,2817,2490933,00.asp" type="external">Microsoft SharePoint Opens a New Window.</a> <a type="external" href="" /> to his or her email app, then that data is now out of your company's control and can be distributed freely. However, with WIP, any designated enterprise app or web location (in this case, SharePoint), when combined with a WIP-enabled device (your employee's smartphone), will automatically encrypt information that is downloaded to the device (the sensitive HR data).</p>
<p>With WIP, your IT departments can block the apps into which employees copy and paste. If an employee attempts to copy and paste from an enterprise app into a blocked app, he or she will see a notification stating that the data transfer was restricted. You can also allow your employees to make the decision by giving them the ability to override the restriction, and you can also create a silent permission, which lets the transfer occur without alerting the employee (but sends an alert to IT letting them know the transfer has occurred).</p>
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<p>2. Better Mobile Device ManagementWith Windows 10, business users were able to sideload apps (that is, download on one device and transfer to another) using product keys. This meant that employees with access to the app product keys could download apps onto any Windows 10-enabled device without direct IT oversight.</p>
<p>With the new update that focuses on <a href="http://www.pcmag.com/slideshow/0,1206,l=&amp;s=1617&amp;a=342685,00.asp" type="external">mobile device management</a> (MDM), sideloading of apps will only be allowed through the app management console controlled by your organization's IT department. This enables your business to control where business apps and the data contained in those apps live.</p>
<p>Also on the MDM front, Microsoft now allows IT admins to purchase off-the-shelf retail Windows 10 Mobile devices and enroll them into mobile device management before assigning them to users. By using Windows Imaging and Configuration Designer to build an ideal configuration (more on this later), IT can deploy the template configuration to multiple devices by connecting them to a Windows PC (tethered deployment) or through an SD card.</p>
<p>3. Windows DefenderThe most important Windows Defender update give you the ability to run malware scans offline with one click. Previous iterations of the anti-malware tool forced users to install a separate program, restart the device, and load the bootable media before the scan could run. Now, all users need to do is open the Windows Defender app and click "Download and Run" to run an offline scan.</p>
<p>The new "Block at First Sight" feature provides additional protections against unwanted files. Typically, when Windows Defender encounters a suspicious file, it will run a test to determine whether the file is benign or malicious. However, while the test is being run, the file is alive on your device. With "Block at First Sight," Windows Defender locks the file so that it can't infiltrate your system.</p>
<p>4. Windows Hello for BusinessYou might already be familiar with Windows Hello, the facial recognition reader that locks and unlocks your Windows 10 device by scanning the contours of your face (or other biometrics and gestures). Consumers had been able to use Windows Hello as their sole entryway into Windows 10 devices since the OS launched last year. However, business users were required to enable Microsoft Passport and Windows Hello to take advantage of the facial recognition functionality.</p>
<p>With the update, Microsoft has combined Passport and Hello under the Windows Hello name. Users who were taking advantage of both apps shouldn't notice a difference in functionality, but news users will know the combined features as Windows Hello for Business.</p>
<p>5. Remote Connect to Microsoft Azure Active Directory Windows 10 has always enabled remote connections to Active Directory PCs. However, the Anniversary Update gives users the ability to connect to remote PCs that are joined to the <a href="http://www.pcmag.com/article2/0,2817,2491224,00.asp" type="external">Microsoft Azure Active Directory</a> <a type="external" href="" />.</p>
<p>If you're not sure what this means, remote connect on Active Directory allows IT to access PCs that are within a physical network. With Azure Active Directory, IT is able to remote connect to any computer that is plugged into the cloud service. This gives remote connectors much greater reach, as the connection is able to extend beyond the confines or a physical network.</p>
<p>6. Shared PC Mode Although this isn't exactly a new Windows 10 feature, it's new to the Enterprise user. Shared PC Mode gives IT the ability to enable access to one device for multiple users. Think of it as a <a href="http://www.pcmag.com/article2/0,2817,2458373,00.asp" type="external">Surface Pro 4 Opens a New Window.</a> <a type="external" href="" /> that your local Best Buy store uses to track inventory, or to research product specifications.</p>
<p>With Shared PC Mode, any clerk working at that Best Buy location will be able to access the device, as well as his or her own private storage, and access his or her own cloud-based Microsoft apps and files. Business users will be able to control how users sign into the device, who can create an account on the device, when accounts are cached, and how the computer undergoes maintenance.</p>
<p>7. Easier Provisioning IT professionals will absolutely love this new feature. Rather than installing a new image for each device in order to configure end-user laptops and tablets, the Anniversary Update allows IT to specify desired configurations and settings for target devices. Essentially, IT can define a single desired configuration and then apply that configuration to multiple devices via a provisioning wizard.</p>
<p>So, if your company hires 100 new users, rather than setting the configuration 100 times on each new device, IT can create a desired configuration and deploy it in one fell swoop across all of the new Windows 10 PCs, tablets, or smartphones.</p>
<p>This article <a href="http://www.pcmag.com/article/346851/7-windows-10-anniversary-update-features-it-pros-will-love" type="external">originally appeared Opens a New Window.</a> on <a href="http://www.pcmag.com" type="external">PCMag.com Opens a New Window.</a>.</p> | true | 0 | microsofts windows 10 opens new window anniversary update introduced host cool new features consumers opens new window enhanced cortana functionality windows hello authentication thirdparty applications redesigned windows store updates designed improve oneyearold operating system os continue reading however microsofts neverending quest os choice business opens new window well general users company also introduced new windows 10 features specific enterprise mostly focused security opens new window itfocused anniversary updates minor tweaks wont upend user experience ux likely put smile face administrators bosses changes primarily exclusively securityrelated designed simplify data protection improve workflow management enable remote collaboration article well examine seven windows 10 anniversary update features professionals love 1 windows information protectionwindows information protection wip new windows 10 feature gives businesses ability encrypt enterprise data downloaded employeeowned device heres example wip trying safeguard human resources hr manager copies pastes sensitive employee data microsoft sharepoint opens new window email app data companys control distributed freely however wip designated enterprise app web location case sharepoint combined wipenabled device employees smartphone automatically encrypt information downloaded device sensitive hr data wip departments block apps employees copy paste employee attempts copy paste enterprise app blocked app see notification stating data transfer restricted also allow employees make decision giving ability override restriction also create silent permission lets transfer occur without alerting employee sends alert letting know transfer occurred advertisement 2 better mobile device managementwith windows 10 business users able sideload apps download one device transfer another using product keys meant employees access app product keys could download apps onto windows 10enabled device without direct oversight new update focuses mobile device management mdm sideloading apps allowed app management console controlled organizations department enables business control business apps data contained apps live also mdm front microsoft allows admins purchase offtheshelf retail windows 10 mobile devices enroll mobile device management assigning users using windows imaging configuration designer build ideal configuration later deploy template configuration multiple devices connecting windows pc tethered deployment sd card 3 windows defenderthe important windows defender update give ability run malware scans offline one click previous iterations antimalware tool forced users install separate program restart device load bootable media scan could run users need open windows defender app click download run run offline scan new block first sight feature provides additional protections unwanted files typically windows defender encounters suspicious file run test determine whether file benign malicious however test run file alive device block first sight windows defender locks file cant infiltrate system 4 windows hello businessyou might already familiar windows hello facial recognition reader locks unlocks windows 10 device scanning contours face biometrics gestures consumers able use windows hello sole entryway windows 10 devices since os launched last year however business users required enable microsoft passport windows hello take advantage facial recognition functionality update microsoft combined passport hello windows hello name users taking advantage apps shouldnt notice difference functionality news users know combined features windows hello business 5 remote connect microsoft azure active directory windows 10 always enabled remote connections active directory pcs however anniversary update gives users ability connect remote pcs joined microsoft azure active directory youre sure means remote connect active directory allows access pcs within physical network azure active directory able remote connect computer plugged cloud service gives remote connectors much greater reach connection able extend beyond confines physical network 6 shared pc mode although isnt exactly new windows 10 feature new enterprise user shared pc mode gives ability enable access one device multiple users think surface pro 4 opens new window local best buy store uses track inventory research product specifications shared pc mode clerk working best buy location able access device well private storage access cloudbased microsoft apps files business users able control users sign device create account device accounts cached computer undergoes maintenance 7 easier provisioning professionals absolutely love new feature rather installing new image device order configure enduser laptops tablets anniversary update allows specify desired configurations settings target devices essentially define single desired configuration apply configuration multiple devices via provisioning wizard company hires 100 new users rather setting configuration 100 times new device create desired configuration deploy one fell swoop across new windows 10 pcs tablets smartphones article originally appeared opens new window pcmagcom opens new window | 697 |
<p />
<p>WASHINGTON (AP) — More than 12.2 million people have signed up for coverage nationwide this year under the Obama-era health care law even with the uncertainty created by President Donald Trump's vow to repeal and replace it.</p>
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<p>A count by The Associated Press shows that many consumers returned to the program despite its problems. Aside from the political turmoil, those difficulties include a spike in premiums, rising deductibles and dwindling choice of insurers.</p>
<p>Although initial enrollment is about 4 percent lower than last year, the sizable number of sign-ups illustrates the risk Republicans face as they begin moving to dismantle the Affordable Care Act and put in its place a yet-to-be-defined conservative approach.</p>
<p>AP's analysis showed that a clear majority of those enrolled — nearly 64 percent — live in states that Trump carried in November. "If they are going to replace it, it had better be as good or better than what is there, and if it's not I think it's going to cost them," said John Chipman, a drummer from Austin, Texas, who's also covering his wife and their two children.</p>
<p>This year the family scaled back from a "silver" plan to "bronze" to avoid a big premium increase. But without the health law, Chipman says he and his wife would probably be turned down for health insurance because of pre-existing medical conditions.</p>
<p>The federal Health and Human Services Department reported last week that 9.2 million people signed up in the 39 states served by the HealthCare.gov website, which offers subsidized private health insurance to people who don't have job-based coverage.</p>
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<p>AP checked with the remaining 11 states, and Washington, D.C., and found an additional 3 million enrolled, for a national total of 12.2 million. A full national report from the government won't be available for at least another month.</p>
<p>Under the health care law, the nation's uninsured rate has fallen to a historic low of about 9 percent, with some 20 million people gaining coverage since its passage in 2010. In addition to the subsidized private plans available through HealthCare.gov and state marketplaces, the law offers states the option of extending Medicaid to cover more low-income adults.</p>
<p>Republicans say this year's enrollment numbers do not equate to a success story for former President Barack Obama's signature domestic legislation.</p>
<p>To begin with, the numbers are well short of the 13.8 million people that the Obama administration had hoped to sign up. Also, the public health insurance markets usually see high attrition as the year goes on, with about 1 in 5 customers eventually dropping out. Some customers don't even bother to pay their first month's premium. "It's clear overall enrollment numbers are trending downward for 'Obamacare' over last year, no doubt due to the law's unpopular mandates and high costs," Sen. Orrin Hatch, R-Utah, said in a statement. Republicans "are committed to establishing a responsible transition phase to ensure as much stability as possible for consumers who purchased insurance."</p>
<p>Asked about the numbers, HHS spokesman Matt Lloyd said the Trump administration sees "Obamacare" as a failure and is pursuing alternatives that will "work for the American people."</p>
<p>One state — Minnesota — took extraordinary measures to keep residents insured. The state has seen premium increases averaging from 50 percent to 67 percent, and lawmakers used $312 million in rainy day funds to buy down monthly rates for consumers who don't get federal subsidies. Since most health law customers already get federal assistance, the bulk of the state money is going to residents who purchase plans outside the government-sponsored marketplace.</p>
<p>Supporters of the health care law say the political uncertainty about its future probably kept many people from signing up.</p>
<p>"We heard from consumers saying they thought 'Obamacare' had ended with President Obama's administration," said Elizabeth Colvin, who heads the health care sign-up program at Foundation Communities, an Austin nonprofit serving low-income working people. "Some consumers said, 'Why bother if it's going to go away?'"</p>
<p>Although Colvin said the confusion made it harder to reach consumers, her program signed up some 4,000 people, or about 6 percent more than last year.</p>
<p>"These numbers demonstrate that there's a demand for this insurance, and that people see value in the financial protection...and the access it gives you to health care," she said.</p>
<p>Vincent Daley, of Cambridge, Massachusetts, works three jobs but none of them offers insurance. He signed up during open enrollment after missing last year's registration opportunity. "Insurance was extremely important because I had been through an accident before playing rugby," he said.</p>
<p>AP's tally of sign-ups comes as the Senate is moving to confirm Georgia congressman Tom Price as the nation's next health secretary. Price has told senators the administration does not want to "pull the rug out" from people now covered, and he all but acknowledged that there's no Trump replacement plan ready to roll out.</p>
<p>Independent analyst Caroline Pearson of the consulting firm Avalere Health said without the full support of the new administration, insurance markets will continue to struggle. "Insurer participation in 2018 remains uncertain, and some regions are at risk of having no participating plan," she said.</p>
<p>Associated Press writers Kyle Potter in St. Paul, Minnesota, and Bob Salsberg in Boston contributed to this report.</p> | true | 0 | washington ap 122 million people signed coverage nationwide year obamaera health care law even uncertainty created president donald trumps vow repeal replace continue reading count associated press shows many consumers returned program despite problems aside political turmoil difficulties include spike premiums rising deductibles dwindling choice insurers although initial enrollment 4 percent lower last year sizable number signups illustrates risk republicans face begin moving dismantle affordable care act put place yettobedefined conservative approach aps analysis showed clear majority enrolled nearly 64 percent live states trump carried november going replace better good better think going cost said john chipman drummer austin texas whos also covering wife two children year family scaled back silver plan bronze avoid big premium increase without health law chipman says wife would probably turned health insurance preexisting medical conditions federal health human services department reported last week 92 million people signed 39 states served healthcaregov website offers subsidized private health insurance people dont jobbased coverage advertisement ap checked remaining 11 states washington dc found additional 3 million enrolled national total 122 million full national report government wont available least another month health care law nations uninsured rate fallen historic low 9 percent 20 million people gaining coverage since passage 2010 addition subsidized private plans available healthcaregov state marketplaces law offers states option extending medicaid cover lowincome adults republicans say years enrollment numbers equate success story former president barack obamas signature domestic legislation begin numbers well short 138 million people obama administration hoped sign also public health insurance markets usually see high attrition year goes 1 5 customers eventually dropping customers dont even bother pay first months premium clear overall enrollment numbers trending downward obamacare last year doubt due laws unpopular mandates high costs sen orrin hatch rutah said statement republicans committed establishing responsible transition phase ensure much stability possible consumers purchased insurance asked numbers hhs spokesman matt lloyd said trump administration sees obamacare failure pursuing alternatives work american people one state minnesota took extraordinary measures keep residents insured state seen premium increases averaging 50 percent 67 percent lawmakers used 312 million rainy day funds buy monthly rates consumers dont get federal subsidies since health law customers already get federal assistance bulk state money going residents purchase plans outside governmentsponsored marketplace supporters health care law say political uncertainty future probably kept many people signing heard consumers saying thought obamacare ended president obamas administration said elizabeth colvin heads health care signup program foundation communities austin nonprofit serving lowincome working people consumers said bother going go away although colvin said confusion made harder reach consumers program signed 4000 people 6 percent last year numbers demonstrate theres demand insurance people see value financial protectionand access gives health care said vincent daley cambridge massachusetts works three jobs none offers insurance signed open enrollment missing last years registration opportunity insurance extremely important accident playing rugby said aps tally signups comes senate moving confirm georgia congressman tom price nations next health secretary price told senators administration want pull rug people covered acknowledged theres trump replacement plan ready roll independent analyst caroline pearson consulting firm avalere health said without full support new administration insurance markets continue struggle insurer participation 2018 remains uncertain regions risk participating plan said associated press writers kyle potter st paul minnesota bob salsberg boston contributed report | 544 |
<p>Adidas (NASDAQOTH: ADDYY) has made a decided push to gain sneaker market share in North America against dominant competitor Nike (NYSE: NKE) and upstart sportswear challenger Under Armour. Yet the company finds itself embroiled in a college basketball scandal, with one of its senior executives named in a criminal complaint after allegedly steering money to the family of a highly-prized high school recruit.</p>
<p>On this episode of <a href="https://www.fool.com/podcasts/industry-focus?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=01815d26-b29f-11e7-9bdb-0050569d32b9&amp;utm_source=foxbusiness" type="external">Industry Focus: Consumer Goods Opens a New Window.</a>, the cast discusses the unsavory dealings that often seem to come to light when global sports brands pursue opportunities in college athletics.</p>
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<p>A full transcript follows the video.</p>
<p>10 stocks we like better than AdidasWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=086cbeab-cf7e-4c9d-ac42-c71b30cf4475&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=01815d26-b29f-11e7-9bdb-0050569d32b9&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now… and Adidas wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=086cbeab-cf7e-4c9d-ac42-c71b30cf4475&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=01815d26-b29f-11e7-9bdb-0050569d32b9&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of October 9, 2017</p>
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<p>This video was recorded on Oct. 10, 2017.</p>
<p>Vincent Shen: Asit, I know that you wanted to talk about Adidas and the controversy surrounding the company recently due to some shady practices in the world of college sports. I've been following this as well. It's a very interesting look into the underbelly of the NCAA and college sports.</p>
<p>Late last month, federal investigators released details on what amounts to be pretty significant corruption in the NCAA, which included the arrest of a global marketing director at Adidas. There have been some resignations, there have been more allegations revealed. Asit, can you give us some details of what happened here?</p>
<p>Asit Sharma: Sure. The complaint that you talked about was unveiled on Sept. 26. The one that we want to talk about related to Adidas alleges that senior executive Jim Gatto participated in a scheme to steer $100,000 to the family of a highly recruited player who is said to have been recruited by Louisville's basketball program. So our listeners who are avid basketball fans know about Louisville -- it's a very storied program, but it's had its little shades with scandal through its head coach Rick Pitino. And one of the consequences of this criminal complaint is Rick Pitino has been pretty much fired from Louisville. I don't know if he was formally fired yet, but he's out.</p>
<p>The other implication is for Adidas, which is a highly respected shoe company trying to make market share gains in North America against the almighty Nike. Adidas now has a little bit of shadow thrown into this, although management is saying that this is a lone wolf, and they are investigating. And you know what, if I was management, I think, of a global company like Adidas, I would have the same line. "We don't know anything about this, but we're investigating." So we'll see how all this shakes out.</p>
<p>But the point that I wanted to make today for listeners is, isn't this story familiar? Don't we seem to hear every few years that there's some money being passed under the table that emanates from these big sporting companies who want colleges to wear their brands so they can sell that gear? And the funny thing is, the NCAA, which has very strict rules, says its athletes are amateurs. They are a money-making machine. So I don't know if it's the big money that's chasing the NCAA that causes this kind of underhanded bad stuff that shouldn't go on. Is it just bad eggs that pop up every once in a while? But man, we just seem to hear this with a regular cadence every few years. What are your thoughts, Vince?</p>
<p>Shen: When it comes down to it, in terms of the bottom line, the opportunity or the potential that some of these star players present, even when they're just high school prospects -- you think about the fact that for 10 years now, the NBA has been unable to draft top talent directly out of high school. But when it comes down to it, the biggest sneaker brands, like Adidas, which is making a push, like Nike, which is the leader in the space, Under Armour, they still keep a very close eye on these youth leagues, these high school star players, and they have very strong incentive to push the best players to the schools that they're partnered with. You mentioned Louisville and how that's the center of this controversy. Well, Adidas paid $160 million for a 10-year deal with the university. It was the company's biggest ever college deal. As a result, the college players at these schools get outfitted with the sponsoring company's sneakers, so when the stars go pro, they already have some of that loyalty to the company.</p>
<p>You mentioned the bribe, it was around $100,000. Some of these other ones they've uncovered and are investigating were cited at $100,000 or $150,000, with implications that competing companies were making counter offers, bidding against each other for the best talent. So maybe this ends up unraveling and roping in other companies besides Adidas. But that $100,000 to $150,000 is a very small investment when you consider how lucrative it can be to sign the next NBA superstar. I'm dating myself a little bit here, but about two years ago, I dedicated an episode of Industry Focus to celebrity athlete endorsements and the return on investment that companies might actually see from these kinds of deals. And when you consider the fact that Jordan is a multi-billion dollar brand for Nike, companies are paying hundreds of millions of dollars to star players to give them their own sneaker lines. Of the biggest footwear deal earners in the past year, the top four, that's Jordan, LeBron, Durant and Kobe, they earned $183 million in the past year. Those are all supported by Nike. Adidas has been pushing its own efforts to lock down its own big deals in the past two years since the new CEO took over the company. When you have those kinds of numbers, and how much potential there is in the right name on a sneaker, and how that can boost demand for the consumers, it becomes obvious to me that a $100,000 bribe to win a player's loyalty early on in their career probably makes for a good investment, even if it's morally unacceptable, or in this case, might result in some of these legal issues. I'm not surprised to hear about this. We see it in the professional levels as well.</p>
<p>The Motley Fool owns shares of and recommends Nike, Under Armour (A Shares), and Under Armour (C Shares). The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=01815d26-b29f-11e7-9bdb-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | adidas nasdaqoth addyy made decided push gain sneaker market share north america dominant competitor nike nyse nke upstart sportswear challenger armour yet company finds embroiled college basketball scandal one senior executives named criminal complaint allegedly steering money family highlyprized high school recruit episode industry focus consumer goods opens new window cast discusses unsavory dealings often seem come light global sports brands pursue opportunities college athletics continue reading full transcript follows video 10 stocks like better adidaswhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right adidas wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns october 9 2017 advertisement video recorded oct 10 2017 vincent shen asit know wanted talk adidas controversy surrounding company recently due shady practices world college sports ive following well interesting look underbelly ncaa college sports late last month federal investigators released details amounts pretty significant corruption ncaa included arrest global marketing director adidas resignations allegations revealed asit give us details happened asit sharma sure complaint talked unveiled sept 26 one want talk related adidas alleges senior executive jim gatto participated scheme steer 100000 family highly recruited player said recruited louisvilles basketball program listeners avid basketball fans know louisville storied program little shades scandal head coach rick pitino one consequences criminal complaint rick pitino pretty much fired louisville dont know formally fired yet hes implication adidas highly respected shoe company trying make market share gains north america almighty nike adidas little bit shadow thrown although management saying lone wolf investigating know management think global company like adidas would line dont know anything investigating well see shakes point wanted make today listeners isnt story familiar dont seem hear every years theres money passed table emanates big sporting companies want colleges wear brands sell gear funny thing ncaa strict rules says athletes amateurs moneymaking machine dont know big money thats chasing ncaa causes kind underhanded bad stuff shouldnt go bad eggs pop every man seem hear regular cadence every years thoughts vince shen comes terms bottom line opportunity potential star players present even theyre high school prospects think fact 10 years nba unable draft top talent directly high school comes biggest sneaker brands like adidas making push like nike leader space armour still keep close eye youth leagues high school star players strong incentive push best players schools theyre partnered mentioned louisville thats center controversy well adidas paid 160 million 10year deal university companys biggest ever college deal result college players schools get outfitted sponsoring companys sneakers stars go pro already loyalty company mentioned bribe around 100000 ones theyve uncovered investigating cited 100000 150000 implications competing companies making counter offers bidding best talent maybe ends unraveling roping companies besides adidas 100000 150000 small investment consider lucrative sign next nba superstar im dating little bit two years ago dedicated episode industry focus celebrity athlete endorsements return investment companies might actually see kinds deals consider fact jordan multibillion dollar brand nike companies paying hundreds millions dollars star players give sneaker lines biggest footwear deal earners past year top four thats jordan lebron durant kobe earned 183 million past year supported nike adidas pushing efforts lock big deals past two years since new ceo took company kinds numbers much potential right name sneaker boost demand consumers becomes obvious 100000 bribe win players loyalty early career probably makes good investment even morally unacceptable case might result legal issues im surprised hear see professional levels well motley fool owns shares recommends nike armour shares armour c shares motley fool disclosure policy opens new window | 613 |
<p>Bull markets can only last so long, and the current one is getting pretty long in the tooth. By some measures, it is the second longest one since World War II.&#160;Regardless of how you calculate it, markets do cycle and bull markets turn into bear markets.</p>
<p>To weather the approaching bear market, three Motley Fool investors turned to a theme: companies that can make a consumer's dollar go further. There's good reason they picked Dollar General (NYSE: DG), Ross Stores (NASDAQ: ROST), and Wal-Mart (NYSE: WMT) as ideal stocks to survive a bear market.</p>
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<p><a href="http://my.fool.com/profile/TMFFishBiz/info.aspx?source=iapsitlnk0000002&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Keith Speights Opens a New Window.</a>&#160;(Dollar General): The last time the stock market began to turn bearish, Dollar General's shares were unfazed. That's because the discount retailer wasn't traded publicly yet in 2007. Since its initial public offering in 2009, though, Dollar General stock is up more than 260%. And when the next bear market begins to growl, the stock could be one of the better places for investors to turn.</p>
<p>There are three key premises to my view of Dollar General as a smart bear-market pick. First, I'm assuming that the next sustained market downturn will stem from an economic recession. This isn't a bad assumption, considering that's been true for most of the bear markets over the past seven decades. Second, Americans become more cost-conscious during recessions, which helps discount retailers. Wal-Mart&#160;stock, for example, performed pretty well as the last bear market approached.</p>
<p>That leads to my third premise: Lower-valued discount retailer stocks such as Dollar General should be especially attractive as the overall market begins to decline next time around. Dollar General's shares trade at less than 17 times expected earnings, compared to Wal-Mart's forward earnings multiple of 19.</p>
<p>In addition to these three factors, I also like Dollar General because of its focus on <a href="https://www.fool.com/investing/2017/07/18/have-investors-been-overlooking-dollar-general.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">building small stores near neighborhoods Opens a New Window.</a>, often in rural areas. This approach gives it more protection from e-commerce competition than its larger rivals have. Dollar General doesn't get the attention that Wal-Mart does, but it just might be the better bear-market pick.</p>
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<p><a href="http://my.fool.com/profile/TMFSigma/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Demitri Kalogeropoulos Opens a New Window.</a> (Ross Stores): No retailer hopes for a recession to hit, but for Ross Stores, an economic downturn can be a good thing. The off-price specialist sources its apparel and home products directly from manufacturers, after all, and so the business benefits from the type of supply and demand imbalances that happen when consumers rapidly shift their spending habits.</p>
<p>That buying strategy helped Ross Stores stroll through the last recession as its comparable-store sales stayed in solidly positive territory. Comps in fact improved to 6% in 2009 from a 2% uptick in the prior year. Most full-price department stores, on the other hand, endured significant sales slumps during that period.</p>
<p>Of course, the company doesn't require a downturn to <a href="https://www.fool.com/investing/2017/08/22/ross-stores-remains-winner-brick-mortar-retail.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">produce solid sales Opens a New Window.</a> and profit growth. Comps increased 4% in Ross Stores' most recent quarter to outpace management's target -- and stay ahead of many other national retailers. CEO Barbara Rentler and her executive team also beat their profitability target as operating margin reached 14.9% of sales, or more than double the result from a decade ago. Sure, a recession would probably reverse much of that gain. But it also would leave Ross Stores in a stronger position overall.</p>
<p><a href="http://www.fool.com/about/staff/RichDuprey/author.htm?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Rich Duprey Opens a New Window.</a> (Wal-Mart): I'll round out the theme my fellow Foolish investors started by offering up the biggest discount retailer of them all: Wal-Mart.</p>
<p>While the king of retail can shine in rising markets, as Keith Speights notes, it's during bear markets that Wal-Mart's everyday low pricing policy really resonates with consumers. The breadth and depth of selection ensures that consumers can get exactly what they need at a price they can afford. And as it further expands its online offerings, its advantages multiply.</p>
<p>Amazon.com (NASDAQ: AMZN) has spurred Wal-Mart to make the digital channel a primary focus while not forgetting the base from which it came. Total retail sales were 3% higher last quarter as comparable store sales rose almost 2% with traffic 1.3% higher. E-commerce sales surged 60%.</p>
<p>And that's in a generally better economy with more people working and incomes rising. If things turn south in a major way, customers will flock to the retailer they know day in and day out offers the best prices on the greatest number of goods.</p>
<p>Wal-Mart's stock might be trading at record highs, but it goes for just 21 times trailing earnings and 19 times next year's estimates. It also actually trades at only a fraction of its sales and analysts are still projecting this behemoth will be able to grow earnings better than 6% annually for the next five years.</p>
<p>There's a good reason each of us today chose a discount retailer, but as the granddaddy of them all, Wal-Mart is the preeminent company to turn to when times are bad.</p>
<p>10 stocks we like better than Dollar GeneralWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=d88cabde-9aa8-4f2c-8988-63ebbb2ce57d&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Dollar General wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=d88cabde-9aa8-4f2c-8988-63ebbb2ce57d&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
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<p>John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. <a href="http://my.fool.com/profile/TMFSigma/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Demitrios Kalogeropoulos Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/TMFFishBiz/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Keith Speights Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/TMFCop/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">Rich Duprey Opens a New Window.</a> has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=b6bc0f84-c14e-11e7-88d1-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | bull markets last long current one getting pretty long tooth measures second longest one since world war ii160regardless calculate markets cycle bull markets turn bear markets weather approaching bear market three motley fool investors turned theme companies make consumers dollar go theres good reason picked dollar general nyse dg ross stores nasdaq rost walmart nyse wmt ideal stocks survive bear market continue reading keith speights opens new window160dollar general last time stock market began turn bearish dollar generals shares unfazed thats discount retailer wasnt traded publicly yet 2007 since initial public offering 2009 though dollar general stock 260 next bear market begins growl stock could one better places investors turn three key premises view dollar general smart bearmarket pick first im assuming next sustained market downturn stem economic recession isnt bad assumption considering thats true bear markets past seven decades second americans become costconscious recessions helps discount retailers walmart160stock example performed pretty well last bear market approached leads third premise lowervalued discount retailer stocks dollar general especially attractive overall market begins decline next time around dollar generals shares trade less 17 times expected earnings compared walmarts forward earnings multiple 19 addition three factors also like dollar general focus building small stores near neighborhoods opens new window often rural areas approach gives protection ecommerce competition larger rivals dollar general doesnt get attention walmart might better bearmarket pick advertisement demitri kalogeropoulos opens new window ross stores retailer hopes recession hit ross stores economic downturn good thing offprice specialist sources apparel home products directly manufacturers business benefits type supply demand imbalances happen consumers rapidly shift spending habits buying strategy helped ross stores stroll last recession comparablestore sales stayed solidly positive territory comps fact improved 6 2009 2 uptick prior year fullprice department stores hand endured significant sales slumps period course company doesnt require downturn produce solid sales opens new window profit growth comps increased 4 ross stores recent quarter outpace managements target stay ahead many national retailers ceo barbara rentler executive team also beat profitability target operating margin reached 149 sales double result decade ago sure recession would probably reverse much gain also would leave ross stores stronger position overall rich duprey opens new window walmart ill round theme fellow foolish investors started offering biggest discount retailer walmart king retail shine rising markets keith speights notes bear markets walmarts everyday low pricing policy really resonates consumers breadth depth selection ensures consumers get exactly need price afford expands online offerings advantages multiply amazoncom nasdaq amzn spurred walmart make digital channel primary focus forgetting base came total retail sales 3 higher last quarter comparable store sales rose almost 2 traffic 13 higher ecommerce sales surged 60 thats generally better economy people working incomes rising things turn south major way customers flock retailer know day day offers best prices greatest number goods walmarts stock might trading record highs goes 21 times trailing earnings 19 times next years estimates also actually trades fraction sales analysts still projecting behemoth able grow earnings better 6 annually next five years theres good reason us today chose discount retailer granddaddy walmart preeminent company turn times bad 10 stocks like better dollar generalwhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right dollar general wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns october 9 2017 john mackey ceo whole foods market amazon subsidiary member motley fools board directors demitrios kalogeropoulos opens new window position stocks mentioned keith speights opens new window position stocks mentioned rich duprey opens new window position stocks mentioned motley fool owns shares recommends amazon motley fool disclosure policy opens new window | 626 |
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<p>The past week-and-a-half rank among the most eventful stretches that I can remember for bank stocks, and Bank of America , in particular. Things won't die down anytime soon, either, as the nation's second-biggest bank by assets is scheduled to report second-quarter earnings two weeks from now, <a href="http://investor.bankofamerica.com/phoenix.zhtml?c=71595&amp;p=irol-newsArticle&amp;ID=2164450#fbid=qBWLr-AxG3Q" type="external">on July 18 Opens a New Window.</a>.</p>
<p>Given this, I thought investors would appreciate a thorough summary of everything that's happened over the past 10 days, insofar as Bank of America is concerned. While there's a lot to absorb, the important thing for long-term investors to keep in mind is that, despite the ups and downs in the market, the North Carolina-based bank has evolved into one of the most-secure investments in the bank industry today, thanks to record amounts of capital and liquidity.</p>
<p>The starting point in all of this is June 23 -- the day the Federal Reserve <a href="http://www.federalreserve.gov/newsevents/press/bcreg/20160623a.htm" type="external">released the results Opens a New Window.</a> from the first round of this year's stress tests. The purpose of the stress tests is to gauge the impact on large banks' solvency if, among other things, the unemployment rate doubles to 10%, stock prices are cut in half, home values drop by 25%, interest rates veer into negative territory, and for the <a href="http://www.fool.com/investing/general/2016/01/31/these-8-banks-are-too-big-to-fail.aspx?source=eptfxblnk0000004" type="external">eight systematically important banks Opens a New Window.</a>, their largest counterparty defaults. It's akin to a 100-year financial cataclysm that combines the worst aspects of the 2008 financial crisis and the 2011 European sovereign-debt crisis.</p>
<p>In this way, the stress test is analogous to a flight simulator that's used to test how pilots would respond in an emergency scenario. But instead of assuming that the airplane loses power in one of its two engines five miles away from an airport, it tests how a pilot would perform if the plane lost power in both engines somewhere over the Atlantic Ocean. A crash landing is inevitable; in other words, the only question is whether there will be any survivors.</p>
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<p>This helps explain why Bank of America has struggled so much on past tests. It ran into problems on the 2014 test after belatedly discovering that it had mismarked the value of debt securities inherited in its 2008 acquisition of Merrill Lynch. And in 2015, the Fed <a href="http://www.federalreserve.gov/newsevents/press/bcreg/20150311a.htm" type="external">required it to resubmit its capital plan Opens a New Window.</a> to "address certain weaknesses in its capital planning processes." It was the only U.S.-based bank that was singled out to do so -- though Goldman Sachs, JPMorgan Chase , and Morgan Stanley had to temper their requests to return capital to shareholders in order to meet minimum capital requirements.</p>
<p>The good news is that Bank of America not only passed this year's test, but it did so <a href="http://www.fool.com/investing/2016/06/23/how-do-you-like-me-now-bank-of-america-passes-the.aspx?source=eptfxblnk0000004" type="external">with flying colors Opens a New Window.</a>. The thing to watch in this regard is its common equity tier 1 capital ratio, or CET1 ratio. This measures how much high-quality capital Bank of America has on its balance sheet to absorb losses from its trading and lending operations. Going into this year's test, its CET1 ratio was 11.6%, which equates to $163 billion worth of tier 1 common capital. After running the Fed's hypothetical gauntlet, this fell to 8.1%, or $123 billion in high-quality capital.</p>
<p>That's a big drop; but even afterward, it still had more-than-enough capital to satisfy <a href="http://www.fool.com/investing/2016/06/30/bank-of-america-an-unanswered-question-from-this-y.aspx?source=eptfxblnk0000004" type="external">its regulatory minimum Opens a New Window.</a>. The instructions to this year's stress test say that banks must maintain a CET1 ratio of 4.5% to pass.</p>
<p>By this measure, Bank of America emerged with $54 billion in capital above and beyond the amount it's legally obligated to hold. And even if you use the 5.875% CET1 ratio that Bank of America must have in order to be considered well-capitalized in normal times, it still exceeded its regulatory minimum by $34 billion. Thus, either way you look at it, Bank of America has succeeded at constructing a fortress balance sheet under chairman and CEO Brian Moynihan's watch.</p>
<p>Data source: Federal Reserve. Chart by author.</p>
<p>Thanks to its performance on the first round of the stress test, as well as improvements to its capital-planning process, the $2.2 trillion bank <a href="http://www.fool.com/investing/2016/06/29/bank-of-america-passes-the-stress-test-and-boosts.aspx?source=eptfxblnk0000004" type="external">received approval this past Wednesday Opens a New Window.</a> to increase its dividend by 50%, and repurchase $5 billion worth of stock during the next 12 months. This was only the second time since the crisis that it's raised its quarterly payout, which explains why its stock rallied in the latter half of this week.</p>
<p>But this is skipping ahead in the story, as something else happened on June 23 that carries <a href="http://www.fool.com/investing/2016/06/24/why-brexit-is-battering-bank-of-america-and-other.aspx?source=eptfxblnk0000004" type="external">significant implications for Bank of America Opens a New Window.</a>, as well. That was the day a majority of voters in the United Kingdom cast ballots in favor of leaving the European Union, incited by spurious rationales that have since been disproven. The magnitude of the consequences from this mistake remain to be seen, but it's bad for banks almost any way you look at it.</p>
<p>The most-pressing problem is that the British pound has fallen by roughly 10% relative to the dollar. It's at its lowest level against the dollar in three decades, and it could very well fall further from here.</p>
<p>The vote caused virtually every other major currency (including the euro and the Chinese yuan) to drop against the dollar, as well -- the sole exception being the Japanese yen. This will reduce U.S. exports, decrease the revenue from profits earned abroad by U.S.-based multinational corporations, and thereby throttle U.S. gross domestic product. The heightened uncertainty caused by the vote is also likely to reduce business investment, which will weigh on loan demand.</p>
<p>The main implications for banks are twofold. In the first case, the market volatility ignited by the vote will reduce trading and investment banking revenues at <a href="http://www.fool.com/investing/general/2016/01/08/the-5-different-types-of-banks-you-can-invest-in.aspx?source=eptfxblnk0000004" type="external">universal banks Opens a New Window.</a>, such as Bank of America, JPMorgan Chase, and Citigroup . In addition to their traditional banking operations, these banks generate revenue from making markets -- that is, from facilitating the purchase and sale of securities and financial products among corporate clients and institutional investors. When volatility increases like this, however, these customers stay on the proverbial sidelines, which reduces trading commissions, as well as fees from underwriting bonds and helping companies go public.</p>
<p>This <a href="http://www.fool.com/investing/general/2016/04/15/this-was-the-only-big-bank-to-increase-revenues-in.aspx?source=eptfxblnk0000004" type="external">happened in the first quarter Opens a New Window.</a>, when bad news sent Bank of America's trading income down 16%, and investment-banking fees lower by 22% compared to the year-ago period. The same figures were off at JPMorgan Chase by 11% and 24%, respectively.And at Citigroup, by 13% and 27%. Brexit was one of the issues at the time, as the scheduled referendum was announced during the quarter. Investors were also disturbed by evidence that China's economic growth is moderating, and by concerns over loan losses at banks that had lent to the energy sector, which is buckling under low oil and gas prices.</p>
<p>For a while, it appeared as if these trends had <a href="http://www.fool.com/investing/2016/06/08/bank-of-americas-2q-earnings-will-benefit-from-hig.aspx?source=eptfxblnk0000004" type="external">reversed course in the second quarter Opens a New Window.</a>. Jefferies Group, a U.S.-based investment bank owned by Leucadia National, <a href="http://ir.jefferies.com/file.aspx?iid=102756&amp;fid=1500087896" type="external">said Opens a New Window.</a> that its sales and trading revenue increased on a year-over-year basis by 21% in the three months ended May 31. The performance of its fixed-income division, which tends to account for the lion's share of trading revenue at large universal banks, was particularly good, growing by 55%.</p>
<p>These trends were confirmed by statements from big-bank executives. Bank of America's Brian Moynihan said earlier in the quarter that he feels good about trading revenue, predicting a mid-single-digit year-over-year revenue gain. And executives at JPMorgan Chase and Citigroup echoed this. The head of JPMorgan Chase's investment bank, Daniel Pinto, said its trading revenue should climb by the mid-teens, while Citigroup's CEO Michael Corbat forecasted a slight uptick. While it remains to be seen whether this held up through the end of the second quarter, it's prudent to assume that their third-quarter results will suffer.</p>
<p>The second implication concerns interest rates, which have been at an historic trough since the financial crisis. Low rates are bad for banks because they reduce the revenue from their loan portfolios, much of which are indexed to prevailing rates. As a result, higher rates will necessarily translate into higher net revenue, which, in turn, will translate into bigger profits.</p>
<p>Bank of America estimates that a 100-basis-point simultaneous increase in short- and long-term rates will translate into <a href="http://www.fool.com/investing/general/2016/05/21/1-thing-that-could-send-bank-of-americas-stock-soa.aspx?source=eptfxblnk0000004" type="external">$6 billion more in annual net interest income Opens a New Window.</a>. This makes it the most <a href="http://www.fool.com/investing/general/2013/12/03/1-thing-investors-are-missing-about-keycorp.aspx?source=eptfxblnk0000004" type="external">asset-sensitive Opens a New Window.</a> big bank -- meaning that it will benefit from higher rates more than other banks -- but it's certainly not alone. For example, JPMorgan Chase predicts that a similar increase in rates would boost its net interest income by $3 billion.</p>
<p>Lest there be any doubt, higher rates are desperately needed by banks right now, and none more so than Bank of America. One of the reasons that its shares trade for a 16% discount to its tangible book value is because its return on equity is well below the level that's necessary for it to create value for shareholders -- that is, after factoring in an investors' opportunity cost of not investing that money elsewhere.</p>
<p>For Bank of America to satisfy this threshold, known as its <a href="http://www.fool.com/investing/general/2014/12/29/why-banks-need-to-earn-a-10-return-on-equity.aspx?source=eptfxblnk0000004" type="external">cost of capital Opens a New Window.</a>, it needs to earn at least 12.2% on its equity, according to an analysis by Rafferty Capital Markets' Dick Bove. That's nearly twice the 6.6% that it earned on its average common shareholders' equity last year. And even if you use a more restricted measure of equity -- its 9.11% return on average tangible common shareholders' equity -- Bank of America still comes up short. If rates were to climb, meanwhile, this gap would largely close.</p>
<p>But the problem now is that interest rates aren't likely to go higher anytime soon. We already had an inclination that this was the case before the United Kingdom's vote on June 23, as Fed chairwoman Janet Yellen <a href="http://www.fool.com/investing/2016/06/21/janet-yellen-has-bad-news-for-bank-stocks.aspx?source=eptfxblnk0000004" type="external">said earlier in the week Opens a New Window.</a> that the central bank was backing off its earlier insinuations that rate rises were just around the corner.</p>
<p>The Fed changed course after the latest employment report showed that jobs growth in May increased at the slowest pace in over five years. The Fed's decision to back away from rate increases will now only be bolstered by the expected fallout from the events in Europe. Rates are now likely to stay lower for longer, which, despite contrary claims from certain analysts, is categorically bad for Bank of America.</p>
<p><a href="http://ycharts.com/indicators/effective_federal_funds_rate" type="external">Effective Federal Funds Rate Opens a New Window.</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>It's nevertheless impossible to say how long rates will stay low. In Japan, they've been hovering near zero since stock and real estate bubbles burst there in 1995. If that's the case in the United States, which could become a self-fulfilling prophecy if immigration is stymied and trade barriers are erected as promised by a certain political candidate, then Bank of America is in for a world of hurt. Given its size, it has thus far been able to escape the sights of activist investors, who would be inclined to force it to <a href="http://www.fool.com/investing/general/2016/04/20/can-bank-of-america-and-merrill-lynch-afford-to-st.aspx?source=eptfxblnk0000004" type="external">fundamentally change its business model Opens a New Window.</a> if, as already noted, it can't earn its cost of capital. And if it's not able to do so without higher rates, then it may lay prostrate too long to avoid the short-sighted designs of activist investors.</p>
<p>Higher rates aside, investors will get an updated look at how Bank of America is navigating the current environment when it reports second-quarter earnings on July 18. What you'll want to watch for is whether or not it has another quarter of respectable profitability -- say, net income of <a href="http://www.fool.com/investing/2016/06/17/why-bank-of-americas-16-billion-in-annual-profits.aspx?source=eptfxblnk0000004" type="external">$4 billion or higher Opens a New Window.</a>. Last year was the first time since the crisis that it was able to turn in decent earnings in four consecutive calendar quarters. That translated into its <a href="http://www.fool.com/investing/general/2016/01/19/bank-of-america-reports-highest-annual-earnings-in.aspx?source=eptfxblnk0000004" type="external">best annual performance in nearly a decade Opens a New Window.</a>.</p>
<p>The good news in this regard is that many of the negative headwinds specific to Bank of America are beginning to abate. The most important of these was a <a href="http://www.fool.com/investing/general/2015/07/26/the-court-case-that-saved-bank-of-america-76-billi.aspx?source=eptfxblnk0000004" type="external">legal decision in the second quarter of last year Opens a New Window.</a> that eviscerated the lion's share of its outstanding legal liabilities. It allowed Bank of America to reduce its then-current outstanding legal claims by $7.6 billion, and it slowed the inflow of new claims from a flood to a trickle.</p>
<p>Prior to the decision, it was getting $2 billion or more in new claims a quarter. After the decision, it dropped to somewhere around $200 million -- though, as best as I can tell, it no longer reports this figure, which suggests that the bank believes it to be immaterial.</p>
<p>Bank of America has also made considerable headway at reducing operating expenses. The headcount in its legacy assets and servicing unit, which services mortgages and houses toxic and noncore assets dating back to the financial crisis, is down to the equivalent of 10,000 full-time employees from a peak of 41,800 in the second quarter of 2012. On top of this, Bank of America has closed more than 20% of its branches over the past seven years. The net result is that annual noninterest expenses, excluding litigation, have declined by $15 billion, or 21%, since 2011.</p>
<p>The bad news, however, is that this now <a href="http://www.fool.com/investing/general/2015/09/29/expenses-are-no-longer-bank-of-americas-main-probl.aspx?source=eptfxblnk0000004" type="external">shifts the emphasis Opens a New Window.</a> at Bank of America to boosting its revenue, which is meaningfully lower on a size-adjusted basis than competitors like Wells Fargo. And this will only get worse now given the likely decline in trading and investment-banking revenues coupled with a prolonged period of ultra-low interest rates.</p>
<p>The question for investors is whether the large discount on Bank of America's stock adequately compensates for what looks like a challenging revenue environment for longer than expected. I think that it does; but, as they say, the proof is in the pudding.</p>
<p>The article <a href="http://www.fool.com/investing/2016/07/02/a-very-thorough-analysis-of-bank-of-america.aspx" type="external">A Thorough and Timely Analysis of Bank of America Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/JohnMaxfield37/info.aspx?source=eptfxblnk0000004" type="external">John Maxfield Opens a New Window.</a> owns shares of Bank of America and Goldman Sachs. The Motley Fool owns shares of and recommends Leucadia National. The Motley Fool recommends Bank of America. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source istockthinkstock continue reading past weekandahalf rank among eventful stretches remember bank stocks bank america particular things wont die anytime soon either nations secondbiggest bank assets scheduled report secondquarter earnings two weeks july 18 opens new window given thought investors would appreciate thorough summary everything thats happened past 10 days insofar bank america concerned theres lot absorb important thing longterm investors keep mind despite ups downs market north carolinabased bank evolved one mostsecure investments bank industry today thanks record amounts capital liquidity starting point june 23 day federal reserve released results opens new window first round years stress tests purpose stress tests gauge impact large banks solvency among things unemployment rate doubles 10 stock prices cut half home values drop 25 interest rates veer negative territory eight systematically important banks opens new window largest counterparty defaults akin 100year financial cataclysm combines worst aspects 2008 financial crisis 2011 european sovereigndebt crisis way stress test analogous flight simulator thats used test pilots would respond emergency scenario instead assuming airplane loses power one two engines five miles away airport tests pilot would perform plane lost power engines somewhere atlantic ocean crash landing inevitable words question whether survivors advertisement helps explain bank america struggled much past tests ran problems 2014 test belatedly discovering mismarked value debt securities inherited 2008 acquisition merrill lynch 2015 fed required resubmit capital plan opens new window address certain weaknesses capital planning processes usbased bank singled though goldman sachs jpmorgan chase morgan stanley temper requests return capital shareholders order meet minimum capital requirements good news bank america passed years test flying colors opens new window thing watch regard common equity tier 1 capital ratio cet1 ratio measures much highquality capital bank america balance sheet absorb losses trading lending operations going years test cet1 ratio 116 equates 163 billion worth tier 1 common capital running feds hypothetical gauntlet fell 81 123 billion highquality capital thats big drop even afterward still morethanenough capital satisfy regulatory minimum opens new window instructions years stress test say banks must maintain cet1 ratio 45 pass measure bank america emerged 54 billion capital beyond amount legally obligated hold even use 5875 cet1 ratio bank america must order considered wellcapitalized normal times still exceeded regulatory minimum 34 billion thus either way look bank america succeeded constructing fortress balance sheet chairman ceo brian moynihans watch data source federal reserve chart author thanks performance first round stress test well improvements capitalplanning process 22 trillion bank received approval past wednesday opens new window increase dividend 50 repurchase 5 billion worth stock next 12 months second time since crisis raised quarterly payout explains stock rallied latter half week skipping ahead story something else happened june 23 carries significant implications bank america opens new window well day majority voters united kingdom cast ballots favor leaving european union incited spurious rationales since disproven magnitude consequences mistake remain seen bad banks almost way look mostpressing problem british pound fallen roughly 10 relative dollar lowest level dollar three decades could well fall vote caused virtually every major currency including euro chinese yuan drop dollar well sole exception japanese yen reduce us exports decrease revenue profits earned abroad usbased multinational corporations thereby throttle us gross domestic product heightened uncertainty caused vote also likely reduce business investment weigh loan demand main implications banks twofold first case market volatility ignited vote reduce trading investment banking revenues universal banks opens new window bank america jpmorgan chase citigroup addition traditional banking operations banks generate revenue making markets facilitating purchase sale securities financial products among corporate clients institutional investors volatility increases like however customers stay proverbial sidelines reduces trading commissions well fees underwriting bonds helping companies go public happened first quarter opens new window bad news sent bank americas trading income 16 investmentbanking fees lower 22 compared yearago period figures jpmorgan chase 11 24 respectivelyand citigroup 13 27 brexit one issues time scheduled referendum announced quarter investors also disturbed evidence chinas economic growth moderating concerns loan losses banks lent energy sector buckling low oil gas prices appeared trends reversed course second quarter opens new window jefferies group usbased investment bank owned leucadia national said opens new window sales trading revenue increased yearoveryear basis 21 three months ended may 31 performance fixedincome division tends account lions share trading revenue large universal banks particularly good growing 55 trends confirmed statements bigbank executives bank americas brian moynihan said earlier quarter feels good trading revenue predicting midsingledigit yearoveryear revenue gain executives jpmorgan chase citigroup echoed head jpmorgan chases investment bank daniel pinto said trading revenue climb midteens citigroups ceo michael corbat forecasted slight uptick remains seen whether held end second quarter prudent assume thirdquarter results suffer second implication concerns interest rates historic trough since financial crisis low rates bad banks reduce revenue loan portfolios much indexed prevailing rates result higher rates necessarily translate higher net revenue turn translate bigger profits bank america estimates 100basispoint simultaneous increase short longterm rates translate 6 billion annual net interest income opens new window makes assetsensitive opens new window big bank meaning benefit higher rates banks certainly alone example jpmorgan chase predicts similar increase rates would boost net interest income 3 billion lest doubt higher rates desperately needed banks right none bank america one reasons shares trade 16 discount tangible book value return equity well level thats necessary create value shareholders factoring investors opportunity cost investing money elsewhere bank america satisfy threshold known cost capital opens new window needs earn least 122 equity according analysis rafferty capital markets dick bove thats nearly twice 66 earned average common shareholders equity last year even use restricted measure equity 911 return average tangible common shareholders equity bank america still comes short rates climb meanwhile gap would largely close problem interest rates arent likely go higher anytime soon already inclination case united kingdoms vote june 23 fed chairwoman janet yellen said earlier week opens new window central bank backing earlier insinuations rate rises around corner fed changed course latest employment report showed jobs growth may increased slowest pace five years feds decision back away rate increases bolstered expected fallout events europe rates likely stay lower longer despite contrary claims certain analysts categorically bad bank america effective federal funds rate opens new window data ycharts opens new window nevertheless impossible say long rates stay low japan theyve hovering near zero since stock real estate bubbles burst 1995 thats case united states could become selffulfilling prophecy immigration stymied trade barriers erected promised certain political candidate bank america world hurt given size thus far able escape sights activist investors would inclined force fundamentally change business model opens new window already noted cant earn cost capital able without higher rates may lay prostrate long avoid shortsighted designs activist investors higher rates aside investors get updated look bank america navigating current environment reports secondquarter earnings july 18 youll want watch whether another quarter respectable profitability say net income 4 billion higher opens new window last year first time since crisis able turn decent earnings four consecutive calendar quarters translated best annual performance nearly decade opens new window good news regard many negative headwinds specific bank america beginning abate important legal decision second quarter last year opens new window eviscerated lions share outstanding legal liabilities allowed bank america reduce thencurrent outstanding legal claims 76 billion slowed inflow new claims flood trickle prior decision getting 2 billion new claims quarter decision dropped somewhere around 200 million though best tell longer reports figure suggests bank believes immaterial bank america also made considerable headway reducing operating expenses headcount legacy assets servicing unit services mortgages houses toxic noncore assets dating back financial crisis equivalent 10000 fulltime employees peak 41800 second quarter 2012 top bank america closed 20 branches past seven years net result annual noninterest expenses excluding litigation declined 15 billion 21 since 2011 bad news however shifts emphasis opens new window bank america boosting revenue meaningfully lower sizeadjusted basis competitors like wells fargo get worse given likely decline trading investmentbanking revenues coupled prolonged period ultralow interest rates question investors whether large discount bank americas stock adequately compensates looks like challenging revenue environment longer expected think say proof pudding article thorough timely analysis bank america opens new window originally appeared foolcom john maxfield opens new window owns shares bank america goldman sachs motley fool owns shares recommends leucadia national motley fool recommends bank america try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 1,428 |
<p>Democrats have short memory spans. As the mainstream media teams up with the political Left to take down Donald Trump’s presidency, it’s worth maintaining some perspective on White House "scandals" as reported by the self-proclaimed gatekeepers of truth.</p>
<p>Much of the self-righteous indignation directed against President Trump is grounded in hypocrisy. When Democrats cry wolf over Trump unduly influencing law enforcement, one can’t help but think of the egregiously corrupt and highly partisan Eric Holder and Loretta Lynch Justice Departments. When Democrats whine about Trump’s "unsympathetic" immigration policy, one can’t help but wonder where the voices of opposition were during former President Bill Clinton's State of the Union speeches.</p>
<p>Now as the MSM goes berserk over reports of Trump allegedly revealing classified information from an ally to Russia, let’s take a trip down memory lane and recall the countless times that former President Obama, the bejeweled darling of the Left, did something that Democrats are now calling "treasonous," "unpatriotic," and "traitorous."</p>
<p>Here are five times the Obama administration leaked classified information:</p>
<p>1. That time Obama’s CIA director leaked top-secret information about Seal Team 6. "In 2011, former CIA Director Leon Panetta revealed top secret information about the Osama Bin Laden raid," <a href="http://thefederalist.com/2017/05/16/obamas-cia-director-leaked-top-secret-bin-laden-raid-hollywood/" type="external">reports</a> The Federalist, adding:</p>
<p>Panetta reportedly revealed the name of the Navy SEAL unit that carried out the raid and named their ground commander at a ceremony where “Zero Dark Thirty” writer Mark Boal was in attendance, according to a report by the <a href="http://pogoarchives.org/m/ns/pogo_document_2013_ig.pdf" type="external">inspector general at the Department of Defense</a>.</p>
<p>Panetta reportedly assumed all 1,300 people in attendance at the event had adequate security clearances to hear the top-secret information about the Seal Team 6 raid, <a href="http://www.politico.com/story/2013/06/leon-panetta-seal-leak-092263" type="external">according to Politico.</a> The report detailing Panetta’s oversharing flies in the face of the Obama White House’s claims they had never shared any classified information with anyone they shouldn’t have.</p>
<p>2. That time an Obama defense official leaked secret information about Israeli military operations against Iran. As Ben Shapiro <a href="http://www.breitbart.com/national-security/2015/03/20/a-complete-timeline-of-obamas-anti-israel-hatred/" type="external">pointed out</a>, "An anonymous 'US defense source' [leaked] to the Times of London that Israel had cut a deal with the Saudis to use their airspace to strike Iran. The deal [was] scuttled." The official leaked the classified information of key ally Israel in June 2010, just as the Obama administration was gearing up to take a harsher stance against the Jewish State’s settlement building activities.</p>
<p>3. That time a high-ranking official in Obama’s Joint Chiefs of Staff leaked classified information about cyber attacks against Iran’s nuclear facilities.</p>
<p>Here’s <a href="http://thefederalist.com/2017/05/16/obamas-cia-director-leaked-top-secret-bin-laden-raid-hollywood/" type="external">The Federalist</a> again:</p>
<p>In 2010, Gen. James Cartwright, then vice chairman of the Joint Chiefs of Staff, allegedly leaked to reporters classified information about cyber attacks on Iran’s nuclear facilities. He reportedly shared documents about a highly sophisticated virus used to foil Iran’s nuclear program to members of the media, but there was <a href="http://www.foxnews.com/opinion/2017/05/16/trumps-russia-leak-real-scandal-behind-washington-post-story.html" type="external">no outrage from the press</a>about these disclosures.</p>
<p>Cartwright pled guilty last October to giving false testimony to FBI agents about his involvement in the leaks, only to be <a href="http://www.jpost.com/International/US-President-Obama-pardons-Cartwright-source-of-Stuxnet-virus-leak-478779" type="external">pardoned by President Obama</a> days before he left the White House. Yet this got very little air time on cable news channels.</p>
<p>4. That time Vice President Joe Biden publicly revealed the highly secret identities of the SEAL Team Six Members behind the Osama Bin Laden assassination operation. The leaks directly endangered the lives of the SEAL members. The Washington Examiner <a href="http://www.washingtontimes.com/news/2013/jun/7/the-betrayal-of-the-navys-seal-team-6/" type="external">reports</a> on Biden's infamous revelation:</p>
<p>His reckless action put at risk the lives of every member of <a href="http://www.washingtontimes.com/topics/seal-team-6/" type="external">SEAL Team 6</a>. The <a href="http://www.washingtontimes.com/topics/taliban-movement/" type="external">Taliban</a> and other jihadists eager to avenge bin Laden now knew which unit to target. Stunned and shocked, <a href="http://www.washingtontimes.com/topics/seal-team-6/" type="external">SEAL</a> members immediately realized they were going to be hunted by al Qaeda sympathizers.</p>
<p>Karen Vaughn, the mother of slain <a href="http://www.washingtontimes.com/topics/seal-team-6/" type="external">SEAL</a> <a href="http://www.washingtontimes.com/topics/aaron-vaughn/" type="external">Aaron</a> <a href="http://www.washingtontimes.com/topics/aaron-vaughn/" type="external">Vaughn</a>, says that within hours after <a href="http://www.washingtontimes.com/topics/joseph-r-biden-jr/" type="external">Mr. Biden</a>’s comments, her son called to tell her to wipe away every piece of information regarding the family on social media, Facebook and Twitter. “I never heard <a href="http://www.washingtontimes.com/topics/aaron-vaughn/" type="external">Aaron</a> that afraid in his life,” Mrs. Vaughn said in an interview. “He told me: ‘Mom, we’re picking up chatter. We’re not safe. You’re not safe. Delete everything.’”</p>
<p>According to Mrs. Vaughn, <a href="http://www.washingtontimes.com/topics/joseph-r-biden-jr/" type="external">Mr. Biden</a> essentially placed a bull’s-eye on her son’s back — and that of all the other SEALs. He leaked classified information. <a href="http://www.washingtontimes.com/topics/seal-team-6/" type="external">SEAL Team 6</a> is a covert unit, which is supposed to operate in the shadows. This is how they are able to conduct deadly raids on terrorist groups.</p>
<p>5. All those times the Obama administration leaked classified information about highly dangerous Israeli military operations in Syria. Shapiro <a href="http://www.breitbart.com/national-security/2015/03/20/a-complete-timeline-of-obamas-anti-israel-hatred/" type="external">notes</a> that on at least two occasions, the Obama administration revealed classified about defensive and counter-offensive Israeli military strikes against Assad:</p>
<p>May 2013: Members of the Obama Pentagon leak information that Israel attacked the Damascus airport to stop a shipment of weapons to terrorist groups. Obama officials actually had to apologize for this leak, since it endangered American lives. They blamed “low-level” employees.</p>
<p>June 2013: The Obama administration leaks specific information regarding Israeli Arrow 3 anti-ballistic missile sites. Weeks later, US sources tell CNN that Israel attacked a Syrian installation full of Russian-provided missiles. The same month, “American intelligence analysts” tell the New York Times that Israeli strikes had not been effective. All that information was classified.</p>
<p>Syria is a close ally of Iran. By leaking this information, the Obama administration compromised Israel’s national security, leaving the Jewish State vulnerable to retaliation from Iran, a country that has repeatedly called for the complete annihilation of Israel, and Russia, another key Assad ally.</p> | true | 0 | democrats short memory spans mainstream media teams political left take donald trumps presidency worth maintaining perspective white house scandals reported selfproclaimed gatekeepers truth much selfrighteous indignation directed president trump grounded hypocrisy democrats cry wolf trump unduly influencing law enforcement one cant help think egregiously corrupt highly partisan eric holder loretta lynch justice departments democrats whine trumps unsympathetic immigration policy one cant help wonder voices opposition former president bill clintons state union speeches msm goes berserk reports trump allegedly revealing classified information ally russia lets take trip memory lane recall countless times former president obama bejeweled darling left something democrats calling treasonous unpatriotic traitorous five times obama administration leaked classified information 1 time obamas cia director leaked topsecret information seal team 6 2011 former cia director leon panetta revealed top secret information osama bin laden raid reports federalist adding panetta reportedly revealed name navy seal unit carried raid named ground commander ceremony zero dark thirty writer mark boal attendance according report inspector general department defense panetta reportedly assumed 1300 people attendance event adequate security clearances hear topsecret information seal team 6 raid according politico report detailing panettas oversharing flies face obama white houses claims never shared classified information anyone shouldnt 2 time obama defense official leaked secret information israeli military operations iran ben shapiro pointed anonymous us defense source leaked times london israel cut deal saudis use airspace strike iran deal scuttled official leaked classified information key ally israel june 2010 obama administration gearing take harsher stance jewish states settlement building activities 3 time highranking official obamas joint chiefs staff leaked classified information cyber attacks irans nuclear facilities heres federalist 2010 gen james cartwright vice chairman joint chiefs staff allegedly leaked reporters classified information cyber attacks irans nuclear facilities reportedly shared documents highly sophisticated virus used foil irans nuclear program members media outrage pressabout disclosures cartwright pled guilty last october giving false testimony fbi agents involvement leaks pardoned president obama days left white house yet got little air time cable news channels 4 time vice president joe biden publicly revealed highly secret identities seal team six members behind osama bin laden assassination operation leaks directly endangered lives seal members washington examiner reports bidens infamous revelation reckless action put risk lives every member seal team 6 taliban jihadists eager avenge bin laden knew unit target stunned shocked seal members immediately realized going hunted al qaeda sympathizers karen vaughn mother slain seal aaron vaughn says within hours mr bidens comments son called tell wipe away every piece information regarding family social media facebook twitter never heard aaron afraid life mrs vaughn said interview told mom picking chatter safe youre safe delete everything according mrs vaughn mr biden essentially placed bullseye sons back seals leaked classified information seal team 6 covert unit supposed operate shadows able conduct deadly raids terrorist groups 5 times obama administration leaked classified information highly dangerous israeli military operations syria shapiro notes least two occasions obama administration revealed classified defensive counteroffensive israeli military strikes assad may 2013 members obama pentagon leak information israel attacked damascus airport stop shipment weapons terrorist groups obama officials actually apologize leak since endangered american lives blamed lowlevel employees june 2013 obama administration leaks specific information regarding israeli arrow 3 antiballistic missile sites weeks later us sources tell cnn israel attacked syrian installation full russianprovided missiles month american intelligence analysts tell new york times israeli strikes effective information classified syria close ally iran leaking information obama administration compromised israels national security leaving jewish state vulnerable retaliation iran country repeatedly called complete annihilation israel russia another key assad ally | 592 |
<p />
<p>In recent years, Boeing (NYSE: BA) has touted its rising cash flow to investors as a key factor that will drive its stock price higher over time. Most Wall Street analysts seem to buy into that story -- at least somewhat. A majority of the analysts following Boeing stock give it a buy rating (or the equivalent), while the average price target is more than 10% ahead of the current stock price.</p>
<p>Continue Reading Below</p>
<p>However, a vocal minority of Boeing analysts are skeptical. For example, analysts at Bank of America Merrill Lynch, Goldman Sachs, and RBC Capital Markets have all theorized that Boeing's cash flow is headed down, not up.</p>
<p>Boeing does face significant challenges on the horizon. Nevertheless, these dour forecasts are too pessimistic. Rising production of the stalwart 737 and the improving profitability of the 787 Dreamliner will drive cash flow higher over the next several years.</p>
<p>Boeing has a massive backlog of more than 4,300 orders for its 737 jet. Today, it is building 42 per month -- about 500 per year -- but Boeing plans to accelerate production to 47 per month in 2017, 52 per month in 2018, and 57 per month in 2019. Even at that increased rate, Boeing would have enough orders to support more than six years of production.</p>
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<p>Boeing is boosting 737 production to meet strong demand. Image source: Boeing.</p>
<p>Increasing 737 production should drive steady cash flow growth over the next few years. During this period, Boeing will also transition from building the current-generation 737 to producing the more fuel-efficient 737 MAX. That should also be positive for profitability and cash flow.</p>
<p>All told, cash flow from the 737 program (before taxes) could rise by about $2 billion from 2016 to 2020.</p>
<p>An even bigger source of cash flow growth is the 787. Cash flow for the Boeing 787 Dreamliner program is likely to be slightly better than breakeven for 2016. However, annual Dreamliner program profitability has been rising by nearly $2 billion a year recently.</p>
<p>Program profitability will <a href="http://www.fool.com/investing/general/2016/05/08/boeing-co-is-ready-to-soar-the-skeptics-arent-payi.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">continue increasing Opens a New Window.</a>, driven by improved pricing, a mix shift toward more profitable models, step-downs in supplier pricing, and Boeing's own cost-cutting efforts. Most of the projected improvements are covered by firm contracts -- they aren't just the product of unrealistic assumptions by Boeing managers.</p>
<p>Boeing expects to recover more than $31 billion of deferred costs for the 787 program over the next six years. That means producing more than $31 billion of pre-tax cash flow during that period.</p>
<p>Most Boeing bears doubt that that Dreamliner profitability will improve so dramatically. But even if Boeing's targets are too aggressive, the 787 program should be able to churn out at least $5 billion of pre-tax cash flow annually by 2020, up from less than $1 billion in 2016.</p>
<p>Aside from the 737 and 787 programs, it's likely that Boeing's cash flow will decline over the next few years. The defense business is relatively stable, particularly now that new orders from the Middle East will allow Boeing to keep producing fighter jets into the 2020s. However, the defense business isn't likely to post meaningful growth in the foreseeable future.</p>
<p>As for Boeing's other commercial programs, rising production of the venerable 767 -- largely to supply airframes for the KC-46 Pegasus military tanker -- will offset the financial drag from the 747 jumbo-jet program, which faces plummeting demand. On the other hand, the upcoming 777 model transition does represent a significant cash flow headwind.</p>
<p>Falling 777 production represents a major cash flow headwind for Boeing. Image source: Boeing.</p>
<p>Right now, the 777 is a huge cash cow, driving a disproportionate amount of Boeing's profit. On a pre-tax basis, the 777 could produce as much as $4 billion in cash flow this year.</p>
<p>Boeing will slash 777 production by more than 15% next year. By 2018, actual delivery rates will fall by a third, as Boeing starts building the upgraded 777X on the same assembly line. Those 777Xs aren't scheduled for delivery until 2020 and beyond.</p>
<p>Between the slowdown in deliveries and the costs of introducing the 777X, the 777 program's cash flow will fall by more than half by 2018. It will start to recover in 2020, though, with the pace of improvement depending largely on whether Boeing runs into unexpected trouble with building the 777X.</p>
<p>Even though the 777 program's cash flow is going to plummet over the next two years, Boeing is still on pace for significant cash flow growth between now and 2019. Simply put, rising cash flow from the 737 and 787 programs will more than offset the headwind from the 777.</p>
<p>Looking to 2020 and beyond, Boeing's cash flow could rise further, as the 737 and 787 will continue to churn out strong cash flow while 777 cash profitability will start to recover.</p>
<p>Boeing intends to return virtually all of its free cash flow to its shareholders. As investors reap the reward of Boeing's rising cash flow, Boeing shares are likely to move much higher.</p>
<p>A secret billion-dollar stock opportunity The world's biggest tech company forgot to show you something, but a few Wall Street analysts and the Fool didn't miss a beat: There's a small company that's powering their brand-new gadgets and the coming revolution in technology. And we think its stock price has nearly unlimited room to run for early in-the-know investors! To be one of them, <a href="http://www.fool.com/mms/mark/ecap-foolcom-apple-wearable?aid=6965&amp;source=irbeditxt0000017&amp;ftm_cam=rb-wearable-d&amp;ftm_pit=2691&amp;ftm_veh=article_pitch&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">just click here Opens a New Window.</a>.</p>
<p><a href="http://my.fool.com/profile/TMFGemHunter/info.aspx" type="external">Adam Levine-Weinberg Opens a New Window.</a> owns shares of Boeing. The Motley Fool recommends Bank of America. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | recent years boeing nyse ba touted rising cash flow investors key factor drive stock price higher time wall street analysts seem buy story least somewhat majority analysts following boeing stock give buy rating equivalent average price target 10 ahead current stock price continue reading however vocal minority boeing analysts skeptical example analysts bank america merrill lynch goldman sachs rbc capital markets theorized boeings cash flow headed boeing face significant challenges horizon nevertheless dour forecasts pessimistic rising production stalwart 737 improving profitability 787 dreamliner drive cash flow higher next several years boeing massive backlog 4300 orders 737 jet today building 42 per month 500 per year boeing plans accelerate production 47 per month 2017 52 per month 2018 57 per month 2019 even increased rate boeing would enough orders support six years production advertisement boeing boosting 737 production meet strong demand image source boeing increasing 737 production drive steady cash flow growth next years period boeing also transition building currentgeneration 737 producing fuelefficient 737 max also positive profitability cash flow told cash flow 737 program taxes could rise 2 billion 2016 2020 even bigger source cash flow growth 787 cash flow boeing 787 dreamliner program likely slightly better breakeven 2016 however annual dreamliner program profitability rising nearly 2 billion year recently program profitability continue increasing opens new window driven improved pricing mix shift toward profitable models stepdowns supplier pricing boeings costcutting efforts projected improvements covered firm contracts arent product unrealistic assumptions boeing managers boeing expects recover 31 billion deferred costs 787 program next six years means producing 31 billion pretax cash flow period boeing bears doubt dreamliner profitability improve dramatically even boeings targets aggressive 787 program able churn least 5 billion pretax cash flow annually 2020 less 1 billion 2016 aside 737 787 programs likely boeings cash flow decline next years defense business relatively stable particularly new orders middle east allow boeing keep producing fighter jets 2020s however defense business isnt likely post meaningful growth foreseeable future boeings commercial programs rising production venerable 767 largely supply airframes kc46 pegasus military tanker offset financial drag 747 jumbojet program faces plummeting demand hand upcoming 777 model transition represent significant cash flow headwind falling 777 production represents major cash flow headwind boeing image source boeing right 777 huge cash cow driving disproportionate amount boeings profit pretax basis 777 could produce much 4 billion cash flow year boeing slash 777 production 15 next year 2018 actual delivery rates fall third boeing starts building upgraded 777x assembly line 777xs arent scheduled delivery 2020 beyond slowdown deliveries costs introducing 777x 777 programs cash flow fall half 2018 start recover 2020 though pace improvement depending largely whether boeing runs unexpected trouble building 777x even though 777 programs cash flow going plummet next two years boeing still pace significant cash flow growth 2019 simply put rising cash flow 737 787 programs offset headwind 777 looking 2020 beyond boeings cash flow could rise 737 787 continue churn strong cash flow 777 cash profitability start recover boeing intends return virtually free cash flow shareholders investors reap reward boeings rising cash flow boeing shares likely move much higher secret billiondollar stock opportunity worlds biggest tech company forgot show something wall street analysts fool didnt miss beat theres small company thats powering brandnew gadgets coming revolution technology think stock price nearly unlimited room run early intheknow investors one click opens new window adam levineweinberg opens new window owns shares boeing motley fool recommends bank america try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 605 |
<p>TIDMTSCO</p>
<p>FORM 8.3</p>
<p>Continue Reading Below</p>
<p>PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY</p>
<p>A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE</p>
<p>Rule 8.3 of the Takeover Code (the "Code")</p>
<p>1. KEY INFORMATION</p>
<p>(a) Full name of discloser: Sandell</p>
<p>Advertisement</p>
<p>Asset</p>
<p>Management</p>
<p>Corp.</p>
<p>(b) Owner or controller of interests and short positions</p>
<p>disclosed, if different from 1(a):</p>
<p>The naming of nominee or vehicle companies is insufficient.</p>
<p>For a trust, the trustee(s), settlor and beneficiaries</p>
<p>must be named.</p>
<p>(c) Name of offeror/offeree in relation to whose relevant Tesco PLC</p>
<p>securities this form relates:</p>
<p>Use a separate form for each offeror/offeree</p>
<p>(d) If an exempt fund manager connected with an offeror/offeree,</p>
<p>state this and specify identity of offeror/offeree:</p>
<p>(e) Date position held/dealing undertaken: 23/01/2018</p>
<p>For an opening position disclosure, state the latest</p>
<p>practicable date prior to the disclosure</p>
<p>(f) In addition to the company in 1(c) above, is the Booker Group</p>
<p>discloser making disclosures in respect of any other PLC</p>
<p>party to the offer?</p>
<p>If it is a cash offer or possible cash offer, state</p>
<p>"N/A"</p>
<p>2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE</p>
<p>If there are positions or rights to subscribe to disclose in more than</p>
<p>one class of relevant securities of the offeror or offeree named in 1(c),</p>
<p>copy table 2(a) or (b) (as appropriate) for each additional class of</p>
<p>relevant security.</p>
<p>(a) Interests and short positions in the relevant securities of</p>
<p>the offeror or offeree to which the disclosure relates following the</p>
<p>dealing (if any)</p>
<p>Class of relevant security: 5p ordinary</p>
<p>Interests Short positions</p>
<p>Number % Number %</p>
<p>(1) Relevant securities owned and/or controlled:</p>
<p>(2) Cash-settled derivatives: 23,733,037 0.29</p>
<p>(3) Stock-settled derivatives (including options)</p>
<p>and agreements to purchase/sell:</p>
<p>TOTAL: 23,733,037 0.29</p>
<p>All interests and all short positions should be disclosed.</p>
<p>Details of any open stock-settled derivative positions (including traded</p>
<p>options), or agreements to purchase or sell relevant securities, should</p>
<p>be given on a Supplemental Form 8 (Open Positions).</p>
<p>(b) Rights to subscribe for new securities (including directors'</p>
<p>and other employee options)</p>
<p>Class of relevant security in relation to which subscription</p>
<p>right exists:</p>
<p>Details, including nature of the rights concerned</p>
<p>and relevant percentages:</p>
<p>3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE</p>
<p>Where there have been dealings in more than one class of relevant</p>
<p>securities of the offeror or offeree named in 1(c), copy table 3(a), (b),</p>
<p>(c) or (d) (as appropriate) for each additional class of relevant</p>
<p>security dealt in.</p>
<p>The currency of all prices and other monetary amounts should be stated.</p>
<p>(a) Purchases and sales</p>
<p>Class of relevant Purchase/sale Number of securities Price per unit</p>
<p>security</p>
<p>(b) Cash-settled derivative transactions</p>
<p>Class of Nature of dealing Number of Price</p>
<p>relevant Product description e.g. opening/closing a long/short position, increasing/reducing reference per</p>
<p>security e.g. CFD a long/short position securities unit</p>
<p>5p</p>
<p>ordinary Swap Reducing a short position 434,375 2.1001</p>
<p>(c) Stock-settled derivative transactions (including options)</p>
<p>(i) Writing, selling, purchasing or varying</p>
<p>Class of Product Writing, Number of Exercise Type Expiry Option</p>
<p>relevant description purchasing, securities price e.g. American, European etc. date money</p>
<p>security e.g. call selling, to which per paid/</p>
<p>option varying option unit received</p>
<p>etc. relates per</p>
<p>unit</p>
<p>(ii) Exercise</p>
<p>Class of Product description Exercising/ Number of Exercise</p>
<p>relevant e.g. call option exercised securities price per</p>
<p>security against unit</p>
<p>(d) Other dealings (including subscribing for new securities)</p>
<p>Class of relevant Nature of dealing Details Price per unit</p>
<p>security e.g. subscription, conversion (if applicable)</p>
<p>4. OTHER INFORMATION</p>
<p>(a) Indemnity and other dealing arrangements</p>
<p>Details of any indemnity or option arrangement, or</p>
<p>any agreement or understanding, formal or informal,</p>
<p>relating to relevant securities which may be an inducement</p>
<p>to deal or refrain from dealing entered into by the</p>
<p>person making the disclosure and any party to the</p>
<p>offer or any person acting in concert with a party</p>
<p>to the offer:</p>
<p>Irrevocable commitments and letters of intent should</p>
<p>not be included. If there are no such agreements,</p>
<p>arrangements or understandings, state "none"</p>
<p>None</p>
<p>(b) Agreements, arrangements or understandings relating to</p>
<p>options or derivatives</p>
<p>Details of any agreement, arrangement or understanding,</p>
<p>formal or informal, between the person making the</p>
<p>disclosure and any other person relating to:</p>
<p>(i) the voting rights of any relevant securities under</p>
<p>any option; or</p>
<p>(ii) the voting rights or future acquisition or disposal</p>
<p>of any relevant securities to which any derivative</p>
<p>is referenced:</p>
<p>If there are no such agreements, arrangements or understandings,</p>
<p>state "none"</p>
<p>None</p>
<p>(c) Attachments</p>
<p>Is a Supplemental Form 8 (Open Positions) attached? No</p>
<p>Date of disclosure: 24/01/2018</p>
<p>Contact name: Triet Leminh</p>
<p>Telephone number: 1-212-603-5816</p>
<p>Public disclosures under Rule 8 of the Code must be made to a Regulatory</p>
<p>Information Service.</p>
<p>The Panel's Market Surveillance Unit is available for consultation in</p>
<p>relation to the Code's disclosure requirements on +44 (0)20 7638 0129.</p>
<p>The Code can be viewed on the Panel's website at</p>
<p>www.thetakeoverpanel.org.uk.</p>
<p>This announcement is distributed by Nasdaq Corporate Solutions on behalf</p>
<p>of Nasdaq Corporate Solutions clients.</p>
<p>The issuer of this announcement warrants that they are solely</p>
<p>responsible for the content, accuracy and originality of the information</p>
<p>contained therein.</p>
<p>Source: Sandell Asset Management Europe Limited via Globenewswire</p>
<p>http://www.sandellmgmt.com/</p>
<p>(END) Dow Jones Newswires</p>
<p>January 24, 2018 10:45 ET (15:45 GMT)</p> | true | 0 | tidmtsco form 83 continue reading public opening position disclosuredealing disclosure person interests relevant securities representing 1 rule 83 takeover code code 1 key information full name discloser sandell advertisement asset management corp b owner controller interests short positions disclosed different 1a naming nominee vehicle companies insufficient trust trustees settlor beneficiaries must named c name offerorofferee relation whose relevant tesco plc securities form relates use separate form offerorofferee exempt fund manager connected offerorofferee state specify identity offerorofferee e date position helddealing undertaken 23012018 opening position disclosure state latest practicable date prior disclosure f addition company 1c booker group discloser making disclosures respect plc party offer cash offer possible cash offer state na 2 positions person making disclosure positions rights subscribe disclose one class relevant securities offeror offeree named 1c copy table 2a b appropriate additional class relevant security interests short positions relevant securities offeror offeree disclosure relates following dealing class relevant security 5p ordinary interests short positions number number 1 relevant securities owned andor controlled 2 cashsettled derivatives 23733037 029 3 stocksettled derivatives including options agreements purchasesell total 23733037 029 interests short positions disclosed details open stocksettled derivative positions including traded options agreements purchase sell relevant securities given supplemental form 8 open positions b rights subscribe new securities including directors employee options class relevant security relation subscription right exists details including nature rights concerned relevant percentages 3 dealings person making disclosure dealings one class relevant securities offeror offeree named 1c copy table 3a b c appropriate additional class relevant security dealt currency prices monetary amounts stated purchases sales class relevant purchasesale number securities price per unit security b cashsettled derivative transactions class nature dealing number price relevant product description eg openingclosing longshort position increasingreducing reference per security eg cfd longshort position securities unit 5p ordinary swap reducing short position 434375 21001 c stocksettled derivative transactions including options writing selling purchasing varying class product writing number exercise type expiry option relevant description purchasing securities price eg american european etc date money security eg call selling per paid option varying option unit received etc relates per unit ii exercise class product description exercising number exercise relevant eg call option exercised securities price per security unit dealings including subscribing new securities class relevant nature dealing details price per unit security eg subscription conversion applicable 4 information indemnity dealing arrangements details indemnity option arrangement agreement understanding formal informal relating relevant securities may inducement deal refrain dealing entered person making disclosure party offer person acting concert party offer irrevocable commitments letters intent included agreements arrangements understandings state none none b agreements arrangements understandings relating options derivatives details agreement arrangement understanding formal informal person making disclosure person relating voting rights relevant securities option ii voting rights future acquisition disposal relevant securities derivative referenced agreements arrangements understandings state none none c attachments supplemental form 8 open positions attached date disclosure 24012018 contact name triet leminh telephone number 12126035816 public disclosures rule 8 code must made regulatory information service panels market surveillance unit available consultation relation codes disclosure requirements 44 020 7638 0129 code viewed panels website wwwthetakeoverpanelorguk announcement distributed nasdaq corporate solutions behalf nasdaq corporate solutions clients issuer announcement warrants solely responsible content accuracy originality information contained therein source sandell asset management europe limited via globenewswire httpwwwsandellmgmtcom end dow jones newswires january 24 2018 1045 et 1545 gmt | 550 |
<p>The market at Boston's historic and spiritual center, steps from where Samuel Adams and the Sons of Liberty stoked the fires of rebellion and a colony took its first shaky steps toward nationhood, is up for a 21st century face-lift.</p>
<p>Quincy Market, the granite-columned marketplace just behind red-brick Faneuil Hall, is part of one of the world's top tourist destinations, attracting visitors seeking a taste of revolutionary history and a cup of New England clam chowder.</p>
<p>Continue Reading Below</p>
<p>Packed with counter service eateries and pushcart vendors hawking Boston souvenirs to 22 million annual visitors, the Greek Revival market was the inspiration for pedestrian city centers across the country — from New York's South Street Seaport to Baltimore's Inner Harbor — when it was revived in the 1970s.</p>
<p>But after four decades, the market's operator says Quincy Market — along with the two brick buildings along either side that house office space and retail chains — is past due for an overhaul.</p>
<p>And though the plan has broad support, some vendors fear they'll be drummed out by the march of progress.</p>
<p>Ashkenazy Acquisition Corp., a New York-based real estate investment firm that has held the ground lease to run the city-owned market since 2011, says it wants to create an "urban oasis" more appealing to residents and companies venturing back into downtown.</p>
<p>Among its early plans are transforming existing office space in the South Market building into a new, 180-room boutique hotel; installing the Japanese clothing retailer Uniqlo on the top floor of Quincy Market; and redesigning the building's crowded food court with more open space, sit-down restaurants and, possibly, moveable bars. Along the marketplace's familiar cobblestone paths, the company wants to possibly introduce ping pong tables, shuffleboard and performance spaces for live music and poetry and book readings.</p>
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<p>Barry Lustig, Ashkenazy's executive vice president, sees a revived marketplace combining the best features of New York's Bryant Park and the Grand Central Terminal market. "We want to create something more whimsical," he said. "It needs to be a place where people just congregate. Where there's always something to do. Where everyone takes part in celebrating this public realm."</p>
<p>The plan still needs city approval but has generally found support among historic preservationists, urban planners, designers and architects. Many agree the area — and the "festival marketplace" concept it pioneered — could use an update.</p>
<p>"You no longer need to convince people to come to the city," said Andre Leroux, executive director of the Massachusetts Smart Growth Alliance, pointing to the revitalization of old city neighborhoods and the rise of new, mixed-use developments that are drawing a younger generation back to urban centers.</p>
<p>"The festival marketplace was a way to create a destination and a safe place when people didn't want to come to the city. You walked around, did your tourist thing in this sort of Disneyfied environment, and then you left," Leroux said.</p>
<p>Even so, Ashkenazy's plan isn't without detractors. Some city councilors are worried it will go too far while the market's longtime food sellers and pushcart vendors say they face an uncertain future.</p>
<p>Kostas Haralabatos, who has owned Aris BBQ for nearly four decades, said he and others have been operating without long-term leases as the company prepares for the work. "It's pathetic," Haralabatos said. "They could tell us next week or next month to leave. It's no way to run a business."</p>
<p>Pushcart vendors, many of whom sell Boston-themed items and souvenirs from antique-looking carts, fear they'll eventually be priced out as rents steadily increase.</p>
<p>Steven Jenal, whose family operates four spots selling novelty and Boston-themed boxer shorts, socks and pajamas, said the move to more upscale or trendy retailers as the Boston area economy enjoys a renaissance is unfair to the pushcart vendors that weathered the lean years of recession and have been there since the market's rebirth in the 1970s, when it was saved from demolition after years of neglect.</p>
<p>"For us, it's about keeping the marketplace affordable for local small businesses, which is what it was meant for," he said. "We're afraid of being lost in the shuffle."</p>
<p>Out-of-towners seated under the market's domed central pavilion earlier this week said they saw nothing immediately tired or worn about the building or its offerings.</p>
<p>Cristina Espinosa, of Spain, said it offered convenience. "For tourists, it's fine ... It has souvenirs. You have your choice of typical (American) food. It's fast."</p>
<p>Elizabeth Larsson, who was visiting from Sweden with her husband, agreed. "We like it. It's nice. We've been to places where they changed things and they've lost that feeling that this place has."</p>
<p>Most agreed some of the aesthetic changes proposed — updating '70s-era exterior light posts and changing out some of the familiar cobblestone paths to something easier on the feet, for example — were good ideas.</p>
<p>But some wondered if changing the marketplace would really bring back Boston residents.</p>
<p>"If you're a local, you kind of want a place where tourists do their tourist thing and you're sort of removed from that," said Mike Gruber, a Denver resident who noted little had really changed since he last visited the market area more than a decade ago. "I feel like this is that place ... I can only imagine that if I was a local, this would be the last place I'd want to be."</p> | true | 0 | market bostons historic spiritual center steps samuel adams sons liberty stoked fires rebellion colony took first shaky steps toward nationhood 21st century facelift quincy market granitecolumned marketplace behind redbrick faneuil hall part one worlds top tourist destinations attracting visitors seeking taste revolutionary history cup new england clam chowder continue reading packed counter service eateries pushcart vendors hawking boston souvenirs 22 million annual visitors greek revival market inspiration pedestrian city centers across country new yorks south street seaport baltimores inner harbor revived 1970s four decades markets operator says quincy market along two brick buildings along either side house office space retail chains past due overhaul though plan broad support vendors fear theyll drummed march progress ashkenazy acquisition corp new yorkbased real estate investment firm held ground lease run cityowned market since 2011 says wants create urban oasis appealing residents companies venturing back downtown among early plans transforming existing office space south market building new 180room boutique hotel installing japanese clothing retailer uniqlo top floor quincy market redesigning buildings crowded food court open space sitdown restaurants possibly moveable bars along marketplaces familiar cobblestone paths company wants possibly introduce ping pong tables shuffleboard performance spaces live music poetry book readings advertisement barry lustig ashkenazys executive vice president sees revived marketplace combining best features new yorks bryant park grand central terminal market want create something whimsical said needs place people congregate theres always something everyone takes part celebrating public realm plan still needs city approval generally found support among historic preservationists urban planners designers architects many agree area festival marketplace concept pioneered could use update longer need convince people come city said andre leroux executive director massachusetts smart growth alliance pointing revitalization old city neighborhoods rise new mixeduse developments drawing younger generation back urban centers festival marketplace way create destination safe place people didnt want come city walked around tourist thing sort disneyfied environment left leroux said even ashkenazys plan isnt without detractors city councilors worried go far markets longtime food sellers pushcart vendors say face uncertain future kostas haralabatos owned aris bbq nearly four decades said others operating without longterm leases company prepares work pathetic haralabatos said could tell us next week next month leave way run business pushcart vendors many sell bostonthemed items souvenirs antiquelooking carts fear theyll eventually priced rents steadily increase steven jenal whose family operates four spots selling novelty bostonthemed boxer shorts socks pajamas said move upscale trendy retailers boston area economy enjoys renaissance unfair pushcart vendors weathered lean years recession since markets rebirth 1970s saved demolition years neglect us keeping marketplace affordable local small businesses meant said afraid lost shuffle outoftowners seated markets domed central pavilion earlier week said saw nothing immediately tired worn building offerings cristina espinosa spain said offered convenience tourists fine souvenirs choice typical american food fast elizabeth larsson visiting sweden husband agreed like nice weve places changed things theyve lost feeling place agreed aesthetic changes proposed updating 70sera exterior light posts changing familiar cobblestone paths something easier feet example good ideas wondered changing marketplace would really bring back boston residents youre local kind want place tourists tourist thing youre sort removed said mike gruber denver resident noted little really changed since last visited market area decade ago feel like place imagine local would last place id want | 543 |
<p />
<p>Tracking buying and selling transactions of hedge funds and billionaire money managers can be entertaining, but it can also be an enlightening exercise to try and understand the moves. Let's be honest: would you rather listen to your friend's advice about stocks while sipping an adult beverage and playing cards, or would you rather listen to a billionaire?</p>
<p>Continue Reading Below</p>
<p>You went with the billionaire's advice, didn't you? I thought so. If investors better understand these moves, they could provide clues on some stocks worth watching, and some worth avoiding. With that said, here are some of our contributing writers with three interesting stocks being dumped by billionaire moneymanagers.</p>
<p>Ken Griffin's Citadel Investment Group is one of the largest alternative asset management funds in the world, and one that I often track. The fund was founded in late 1990 and as of the end of the first quarter 2016has regulatory assets of about $150 billion; its size can make finding major moves a little more difficult.</p>
<p>However, the fund sold its entire stake inZoetis Inc. during the first quarter. It owned 3.03 million shares of Zoetis, worth a little more than $145 million at the end of 2015. It was an interesting move in the sense that the company had reported its first-quarter earnings of $0.48 on revenue of $1.2 billion, which handily beat analysts' estimates of $0.41 per share on revenue of $1.1 billion.</p>
<p>About the company: Zoetis is a leader in the global animal-health industry and it has a cost advantage over its competitors. One of the reasons it does well is because its animal-business customer base is fragmented, which gives the company significant pricing power.</p>
<p>So why sell the stock? Without asking Mr. Griffin, there isn't a definitive answer, but one lingering question could provide a clue: How will growth from emerging markets impact margins?</p>
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<p>Part of the company's growth story is that as emerging markets improve their standards of living, animals will increasingly be seen as companions as they are in the U.S., which will increase the need for Zoetis' products. However, sales in emerging markets will likely create a headwind for its total margins, at least for the medium term.</p>
<p>According to recent SEC filings from Berkshire Hathaway , Warren Buffett has completely disposed of his position in AT&amp;T . The company is on the wrong side of major technological trends, so there are strong reasons to be cautious when analyzing an investment position in the telecom giant.</p>
<p>The telecom industry has always been aggressively competitive. Making things worse for companies in the sector, Internet and related technologies are rapidly reducing communication costs across the board, and this is putting additional downside pressure on pricing and profitability.</p>
<p>In July of last year, AT&amp;T closed the acquisition of DirecTV for $49 billion. This deal made AT&amp;T a major player in pay TV, and DirecTV offers attractive growth opportunities in Latin America. Nevertheless, the cord-cutting revolution is a major threat for pay TV operators, and adapting to technological change can be both difficult and expensive.</p>
<p>On the other hand, many of these concerns are already incorporated into valuation to a considerable degree, and AT&amp;T stock looks quite cheap at current prices. The stock is trading at a big dividend yield of 4.9%, making the company a tempting bet for dividend investors hunting for opportunities.</p>
<p>If management proves to investors that it can generate consistent growth in the face of challenging conditions, then AT&amp;T could offer substantial upside potential from currently depressed prices. However, that's quite a big "if."</p>
<p>Per the latest 13F filings, in the first quarter of 2016,billionaire George Soros' fund dumped 60% of its stake in the common stock of Botox makerAllergan(NYSE: AGN)-- a position Soros Fund Management initiated roughly two years ago. Now, to be honest,the reason for the fund's sudden change of heart isn't much of a mystery. After all, Allergan saw dozens of funds hit the exits once its proposedmerger with pharma giantPfizerfell through for tax reasons. In short, a fair number ofmoney managers were clearly playing the merger-arbitrage game, and got burned in the process by Allergan's failed merger, which triggered a spectacular decline in its share price:</p>
<p><a href="http://ycharts.com/companies/AGN" type="external">AGN</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>But I think this hefty decline in Allergan's share price is way overdone, for a couple of reasons. First off, Allergan still sports a strong portfolio of branded drugs that are generating double-digit sales growth at the moment, and that trend should continue for the foreseeable future, as the drugmaker gears up to launch several additional products soon.</p>
<p>Next up, the company's management recently pledged a massive $10 billion worth of share buybacks in the near future -- that is, once its deal with Teva Pharmaceutical IndustriesLtd.for its generic drug unit finally closes. Besides boosting its bottom line, this proposed deal with Teva will also give Allergan plenty of ammo to pursue a handful of value-creating, bolt-on acquisitions, as well as reduce its monstrous debt load. Bottom line, Allergan looks, to me, like a great pickup at current levels -- despite the recent exodus of some billionaire superinvestors.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/05/25/billionaires-are-dumping-these-3-stocks.aspx" type="external">Billionaires are Dumping These 3 Stocks Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/acardenal/info.aspx?source=eptfxblnk0000004" type="external">Andrs Cardenal Opens a New Window.</a> owns shares of Berkshire Hathaway. <a href="http://my.fool.com/profile/TMFTwoCoins/info.aspx?source=eptfxblnk0000004" type="external">Daniel Miller Opens a New Window.</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/gbudwell/info.aspx?source=eptfxblnk0000004" type="external">George Budwell Opens a New Window.</a> owns shares of Allergan PLC, Berkshire Hathaway, and Pfizer. The Motley Fool owns shares of and recommends Berkshire Hathaway. The Motley Fool recommends Teva Pharmaceutical Industries. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | tracking buying selling transactions hedge funds billionaire money managers entertaining also enlightening exercise try understand moves lets honest would rather listen friends advice stocks sipping adult beverage playing cards would rather listen billionaire continue reading went billionaires advice didnt thought investors better understand moves could provide clues stocks worth watching worth avoiding said contributing writers three interesting stocks dumped billionaire moneymanagers ken griffins citadel investment group one largest alternative asset management funds world one often track fund founded late 1990 end first quarter 2016has regulatory assets 150 billion size make finding major moves little difficult however fund sold entire stake inzoetis inc first quarter owned 303 million shares zoetis worth little 145 million end 2015 interesting move sense company reported firstquarter earnings 048 revenue 12 billion handily beat analysts estimates 041 per share revenue 11 billion company zoetis leader global animalhealth industry cost advantage competitors one reasons well animalbusiness customer base fragmented gives company significant pricing power sell stock without asking mr griffin isnt definitive answer one lingering question could provide clue growth emerging markets impact margins advertisement part companys growth story emerging markets improve standards living animals increasingly seen companions us increase need zoetis products however sales emerging markets likely create headwind total margins least medium term according recent sec filings berkshire hathaway warren buffett completely disposed position atampt company wrong side major technological trends strong reasons cautious analyzing investment position telecom giant telecom industry always aggressively competitive making things worse companies sector internet related technologies rapidly reducing communication costs across board putting additional downside pressure pricing profitability july last year atampt closed acquisition directv 49 billion deal made atampt major player pay tv directv offers attractive growth opportunities latin america nevertheless cordcutting revolution major threat pay tv operators adapting technological change difficult expensive hand many concerns already incorporated valuation considerable degree atampt stock looks quite cheap current prices stock trading big dividend yield 49 making company tempting bet dividend investors hunting opportunities management proves investors generate consistent growth face challenging conditions atampt could offer substantial upside potential currently depressed prices however thats quite big per latest 13f filings first quarter 2016billionaire george soros fund dumped 60 stake common stock botox makerallergannyse agn position soros fund management initiated roughly two years ago honestthe reason funds sudden change heart isnt much mystery allergan saw dozens funds hit exits proposedmerger pharma giantpfizerfell tax reasons short fair number ofmoney managers clearly playing mergerarbitrage game got burned process allergans failed merger triggered spectacular decline share price agn data ycharts opens new window think hefty decline allergans share price way overdone couple reasons first allergan still sports strong portfolio branded drugs generating doubledigit sales growth moment trend continue foreseeable future drugmaker gears launch several additional products soon next companys management recently pledged massive 10 billion worth share buybacks near future deal teva pharmaceutical industriesltdfor generic drug unit finally closes besides boosting bottom line proposed deal teva also give allergan plenty ammo pursue handful valuecreating bolton acquisitions well reduce monstrous debt load bottom line allergan looks like great pickup current levels despite recent exodus billionaire superinvestors article billionaires dumping 3 stocks opens new window originally appeared foolcom andrs cardenal opens new window owns shares berkshire hathaway daniel miller opens new window position stocks mentioned george budwell opens new window owns shares allergan plc berkshire hathaway pfizer motley fool owns shares recommends berkshire hathaway motley fool recommends teva pharmaceutical industries try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 612 |
<p />
<p>Donald Trump's victory came as a surprise to many Americans, the nation's pollsters most of all.</p>
<p>Continue Reading Below</p>
<p>Heading into Election Day, most national surveys overstated what will likely be a narrow popular vote advantage for Hillary Clinton and led many to believe she was a shoo-in to win the Electoral College.</p>
<p>"The polls clearly got it wrong this time," the American Association for Public Opinion Research said Wednesday in a statement. The association traditionally assesses the state of public polling after each election cycle, and already has a committee in place to do so again this year.</p>
<p>"I think it was an important polling miss. It would really be glossing over it to say that it was a typical year," said Courtney Kennedy, director of survey research at the Pew Research Center.</p>
<p>For now, it's impossible to know for certain what exactly went wrong for pollsters this year — and, as votes are still being counted, exactly how far off they were. Some factors pollsters will examine:</p>
<p>___</p>
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<p>HOW BIG A MISS?</p>
<p>Although most polls throughout the 2016 campaign showed Clinton running ahead of Trump, in the final two weeks of the campaign her advantage narrowed in many national surveys, as well as in states such as Pennsylvania and Michigan. Her apparent lead fell within many surveys' margins of sampling error.</p>
<p>Kennedy said pollsters may ultimately not have had a historically large miss on the national popular vote, but thinks there was a systematic overrepresentation of Clinton's support and underrepresentation for Trump's.</p>
<p>She says people sometimes expect too much of election polls, which "are not designed to provide extremely accurate results."</p>
<p>Lee Miringoff, director of the Marist College Institute for Public Opinion, says that averages of publicly available polls sometimes give a false sense of certainty in a candidate's lead.</p>
<p>"You're taking imprecise estimates and throwing them all together with the hope of eliminating error," he says.</p>
<p>___</p>
<p>SHY TRUMP VOTERS?</p>
<p>Trump's campaign frequently pointed to the possibility that public polls were missing some of his base of support, and some pollsters say that might have played a role in the polling miss.</p>
<p>"One of the biggest problems that polls face nowadays is that people don't want to participate in them at all," said Patrick Murray, director of the Monmouth University Polling Institute. He plans to use voter data to find out if certain types of people were less likely to participate in his surveys.</p>
<p>At Pew, Kennedy said it appears that there was a segment of Trump's support base that was not responding to polls, which she called "fundamentally a difficult challenge to fight." But, she said, it's unlikely voters were lying about their support.</p>
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<p>TURNOUT</p>
<p>Harold Clarke, a political scientist at the University of Texas at Dallas who regularly conducts polling, said one of the shortfalls in the presidential prediction was a problem that has plagued survey science for decades.</p>
<p>"We've got to filter our surveys as we try to pick out those people that are really going to vote," he said. "We all have the problem of not getting likely voters right."</p>
<p>Murray said pollsters are using likely voter models that might have worked in the past, but may no longer. He suggested that public pollsters should take a lesson from campaigns and consider putting out a range of numbers reflecting different turnout scenarios instead of a single number that suggests too much certainty in where the horse race stands.</p>
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<p>TIGHTENING RACE</p>
<p>Republican pollster Whit Ayres suggests that many observers — himself included — assumed that since Trump had never held a lead, he wouldn't get the benefit of the doubt from voters in the end. But he says that in races where an incumbent is stuck below 50 percent in the polls, late deciders often break toward the challenger.</p>
<p>"There were a number of us who should have raised that possibility before the election," Ayres said. "If you think about it, Hillary Clinton is about as close as you can get to an incumbent."</p>
<p>Nationally and in key states such as Wisconsin and Pennsylvania, Trump prevailed among voters who said they decided which candidate to support in the last week before voting, according to exit polls conducted for The Associated Press and television networks by Edison Research.</p>
<p>In retrospect, Republican pollster Ed Goeas says that he saw a sign he now believes was a clue of Trump's advantage. In his national polling, he saw an 8 percentage point edge for Trump in voter intensity and enthusiasm among his supporters.</p>
<p>"But the assumption on our part was that Clinton's ground game would overcome or neutralize that intensity," Goeas said. "It just didn't."</p>
<p>___</p>
<p>NOT ENOUGH POLLS?</p>
<p>In several key states, including Wisconsin and Pennsylvania, there were few polls conducted in the final week before the election.</p>
<p>"In some of those unexpected states in the Rust Belt — Michigan, Minnesota and Wisconsin — you didn't see some of the more rigorous polls being conducted."</p>
<p>Goeas confesses to failing to see some late movements, in part because his polling ended four days before the election.</p>
<p>"So basically we were looking at numbers thinking where he might end up," Goeas said of Trump's chances in Wisconsin, where he believed the Republican would benefit from Republican Sen. Ron Johnson's get-out-the-vote operation. "Did we have any comfort he would do it? No."</p>
<p>"It would have been nice to have a couple more Michigan and Wisconsin polls to adjust that perception" that Clinton was leading, Miringoff said. "The campaigns don't stop because the pollsters do their final poll."</p>
<p>___</p>
<p>Associated Press writer Matt Sedensky contributed to this report.</p> | true | 0 | donald trumps victory came surprise many americans nations pollsters continue reading heading election day national surveys overstated likely narrow popular vote advantage hillary clinton led many believe shooin win electoral college polls clearly got wrong time american association public opinion research said wednesday statement association traditionally assesses state public polling election cycle already committee place year think important polling miss would really glossing say typical year said courtney kennedy director survey research pew research center impossible know certain exactly went wrong pollsters year votes still counted exactly far factors pollsters examine ___ advertisement big miss although polls throughout 2016 campaign showed clinton running ahead trump final two weeks campaign advantage narrowed many national surveys well states pennsylvania michigan apparent lead fell within many surveys margins sampling error kennedy said pollsters may ultimately historically large miss national popular vote thinks systematic overrepresentation clintons support underrepresentation trumps says people sometimes expect much election polls designed provide extremely accurate results lee miringoff director marist college institute public opinion says averages publicly available polls sometimes give false sense certainty candidates lead youre taking imprecise estimates throwing together hope eliminating error says ___ shy trump voters trumps campaign frequently pointed possibility public polls missing base support pollsters say might played role polling miss one biggest problems polls face nowadays people dont want participate said patrick murray director monmouth university polling institute plans use voter data find certain types people less likely participate surveys pew kennedy said appears segment trumps support base responding polls called fundamentally difficult challenge fight said unlikely voters lying support ___ turnout harold clarke political scientist university texas dallas regularly conducts polling said one shortfalls presidential prediction problem plagued survey science decades weve got filter surveys try pick people really going vote said problem getting likely voters right murray said pollsters using likely voter models might worked past may longer suggested public pollsters take lesson campaigns consider putting range numbers reflecting different turnout scenarios instead single number suggests much certainty horse race stands ___ tightening race republican pollster whit ayres suggests many observers included assumed since trump never held lead wouldnt get benefit doubt voters end says races incumbent stuck 50 percent polls late deciders often break toward challenger number us raised possibility election ayres said think hillary clinton close get incumbent nationally key states wisconsin pennsylvania trump prevailed among voters said decided candidate support last week voting according exit polls conducted associated press television networks edison research retrospect republican pollster ed goeas says saw sign believes clue trumps advantage national polling saw 8 percentage point edge trump voter intensity enthusiasm among supporters assumption part clintons ground game would overcome neutralize intensity goeas said didnt ___ enough polls several key states including wisconsin pennsylvania polls conducted final week election unexpected states rust belt michigan minnesota wisconsin didnt see rigorous polls conducted goeas confesses failing see late movements part polling ended four days election basically looking numbers thinking might end goeas said trumps chances wisconsin believed republican would benefit republican sen ron johnsons getoutthevote operation comfort would would nice couple michigan wisconsin polls adjust perception clinton leading miringoff said campaigns dont stop pollsters final poll ___ associated press writer matt sedensky contributed report | 530 |
<p>Ever looking to criticize the American populace from his cardboard platform, filmmaker Michael Moore lashed out Thursday on CNN at supporters of Osama bin Laden's assassination. "We've lost something of our soul here in this country," he said of the mission to kill the al Qaeda leader rather than capture him and try him in court. A guest on Piers Morgan Tonight, Moore contrasted the assassination with the post-World War II Nuremburg trials. He claimed that America then, unlike now, put itself above the level of its enemies by trying their leaders instead of simply executing them. The liberal filmmaker ripped Americans' disregard for a trial and their support of an assassination. "The second you say that, you're saying that you hate being an American," he huffed. "You hate what we stand for, you hate what our constitution stands for....We should be standing up and saying 'listen, damn it, we're Americans. This is the way we do it. You commit a crime, we put you on trial.'" As for the Americans who would not want a terrorist trial to take place in civilian courts in New York City? They are "wusses," according to Moore. "You hear stuff like that and it's like, what are we? A bunch of wusses....We're afraid to even put out and have a trial because somebody might get hurt or they might get mad in some other part of the world and plan to hurt us?" Well actually, that seemed to be the <a href="http://www.cbsnews.com/8301-503544_162-5687306-503544.html" type="external">prevailing sentiment</a> when attorney general Eric Holder announced in 2009 that the trial of 9/11 mastermind Khalid Sheik Mohammed was to be held in downtown Manhattan. But Moore didn't let the fears of the majority of Americans get in his way while hitting Obama from the left. During the lengthy interview which CNN granted him, Moore also took the time to admonish the Americans who celebrated bin Laden's death. "I don't think Jesus would go down to Ground Zero like a lot of people did on that - on Sunday night with champagne bottles and pop corks and have a party," he preached. Moore added later that he "would like to know" how long the Obama administration has known the location of Osama bin Laden. He expressed <a href="http://www.mediaresearch.org/cyberalerts/2003/cyb20030512.asp#4" type="external">similar sentiment</a> in 2003 when he claimed that the Bush administration knew the location of bin Laden, but would not take him since he was funded by Bush's friends, Saudi Arabia. Moore also believes that al Qaeda no longer exists as an official terrorist organization. "I think there are a lot of people running around calling themselves al Qaeda," he said. But the group was "dismantled" when the revolutions began in North Africa and the Middle East. "What I think, it was the day that the revolution began in Tunisia," he said. A transcript of the segment, which aired on May 5 at 8:07 p.m. EDT, is as follows:</p>
<p />
<p>8:07</p>
<p>PIERS MORGAN: My next guest is a man of strong and controversial opinions, especially when it comes to Osama bin Laden. He says al Qaeda's top man was executed by the United States.</p>
<p>And Michael Moore joins me now. Michael, let me start with a simple question. Were you pleased when you heard that bin Laden had been killed?</p>
<p>MICHAEL MOORE: I'm pleased that he will no longer be around to do any harm to anybody. The world is a better place without him. To be - to celebrate someone's death, I think that goes a step further than my own - it's not the way I was raised. I was raised in an Irish Catholic home. I believe in those principles that I was raised with. I hear a lot of people in this country often say, what would Jesus do? I don't think Jesus would go down to Ground Zero like a lot of people did on that - on Sunday night with champagne bottles and pop corks and have a party.</p>
<p>(...)</p>
<p>8:20</p>
<p>MOORE: No, no. They killed him. But what I'm saying is they didn't kill because there was some kind of firefight or something going on. They went there with the intention to kill him. That's an execution and - or an assassination, whatever you want to call it.</p>
<p>And I think - I think, look, like I said, I'm glad he's gone. But I just feel something has - we've lost something of our soul here in this country. And maybe I'm just an old school American who believes in our American judicial system. Something that separates us from other parts, other countries where we say everybody has their day in court no matter how bad of a person, no matter what piece of scum they are, they have a right to a trial.</p>
<p>And this man was a mass murderer. He was responsible for the deaths, at least in this country, of nearly 3,000 people. And you know after World War II, we just didn't go in and put a bullet to the head of all the top Nazis. We put them on trial. We took them to Nuremberg and we put them on trial, and we said, no, this is important for the world to see these criminals and it's important for history to have a record of what they did. And so we're going to do this in a courtroom and we're going to show these Germans how we do it - with fairness, with justice. You're going to get to have your own attorney. You get to have your day in court. That's how we do it. That's what separates us from you, Nazi scum.</p>
<p>(...)</p>
<p>8:22</p>
<p>MOORE: We are at a point now where we don't - 'what do we need a trial for, just get rid of him.' The second you say that, you're saying that you hate being an American. You hate what we stand for, you hate what our constitution stands for.</p>
<p>We stand for something different than that and we're better than them. We don't just operate in an uncivilized way the way they did on 9/11. We operate in a moral way. And what better way to show that? 'Don't bring them to New York. Don't have the trial in New York. This could - this will put us in jeopardy. This could - this might...' - you know, and then you hear stuff like that and it's like, what are we? A bunch of wusses now that we just - we're afraid to even put out and have a trial because somebody might get hurt or they might get mad in some other part of the world and plan to hurt us?</p>
<p>You know we should be standing up and saying, 'listen, damn it, we're Americans. This is the way we do it. You commit a crime, we put you on trial. That's the way it works here. And if you try to hurt us or mess with us while we do that, you've got something coming.'</p>
<p>You know, but instead, here in New York - 'oh, no, don't have the tru...' You know, it's like - we've just lost something here and I think that's what - you know, what so - what made people feel so good about the Navy SEALs - and, I know a number of Navy SEALs and Army Rangers and these guys. They are really - I mean, they are the best of the best.</p>
<p>And it was just amazing how in a matter of minutes they did what should have been done years and years and years ago in terms of finding him and bringing him to some sort of justice.</p>
<p>(...)</p>
<p>8:29</p>
<p>MORGAN: I'm back with my special guest, Michael Moore.</p>
<p>Michael, let's turn to the existence of bin Laden in this compound. It's emerging tonight and the "Washington Post" have claims tonight that the CIA were watching bin Laden in this compound for quite some time, which is certainly a theory that you've been putting forward. What do you think about the fact that bin Laden appears to have been there for up to five years, in this large property right next to Pakistanis' military intelligence?</p>
<p>MOORE: Right next door to it. Right next door to their West Point. Well, again, you know, they are asking us to believe that nobody knew. I mean, I think most people would assume that the Pakistani government knew.</p>
<p>Remember, the Pakistan government is probably our third or fourth largest recipient of our foreign aid, 1.5 billion a year. And we've been paying them a lot of money because we wanted them to find bin Laden and to stop al Qaeda there in Pakistan.</p>
<p>So it wasn't in their best interests, really, to - for the show to close, you know, on Saturday night, you know, on Broadway. They have to keep the show going. And I think the Pakistani government liked the show. Generals made a lot of money. A lot of those generals had nice vacation homes in that town that were paid for by the various bribes and funds provided by your tax dollars and mine.</p>
<p>MORGAN: Michael, let me just put a point to you.</p>
<p>MOORE: Yeah.</p>
<p>MORGAN: Would you go further, because you've hinted at this - would you go further and say that President Obama or his intelligence advisers - are you suggesting any of them had knowledge for a considerable period of time?</p>
<p>MOORE: I'd like to know that. I'd like to know that. I think we should know that. They've admitted that they've known for some time. I'd like to know how long that time is.</p>
<p>Over those five years, seriously - or was some deal cut with the Pakistanis, they would essentially keep him under house arrest?</p>
<p>Think about this, there's no body guards in that house. We've always heard about bin Laden and his body guards. They show up that night, on Sunday night, and there's not a single bodyguard? There's two couriers, the guys who are essentially like his personal Fed Ex. But no there's bodyguards protecting him. Well, why not? Well, maybe because he's already on a Pakistani military base being protected or being watched or maybe under house arrest. Who knows?</p>
<p>I mean, there's any number of possibilities. These questions need to be asked. And we should demand these answers. Something doesn't smell right about any of this. And I think President Obama will get to the bottom of this.</p>
<p>(...)</p>
<p>So fortunately, we have a president who is also a lawyer and a very smart guy. And I think probably he's spending a certain amount of time right now getting to the bottom of what the truth is, what the real story is. And we will eventually know what that story is.</p>
<p>MORGAN: In terms of Afghanistan, obviously we've taken out the leader of al Qaeda, but the entity continues to exist in various forms around the world.</p>
<p>MOORE: Really? Like what? Where?</p>
<p>MORGAN: Would you now withdraw -</p>
<p>Well, you don't believe al Qaeda exists in any form?</p>
<p>MOORE: I think there are a lot of people running around calling themselves al Qaeda. I think - first, I think bin Laden is there in that house for five years. He's got a laptop, but they won't let him have Internet.</p>
<p>Okay, first of all, somebody said he's probably the only guy in the last decade that got any work done. But what kind of work could he do? I mean, essentially, if the Pakistani government had him there under some sort of watch or house arrest or whatever it's called - you know, there haven't been events linked to him over the last few years. He has been fairly subdued, if you want to say, in terms of actual terrorist -</p>
<p>MORGAN: Do you believe al Qaeda has been dismantled?</p>
<p>MOORE: Well, I think, listen, actually, the day that al Qaeda was dismantled, personally, frankly, what I think - it was the day that the revolution began in Tunisia. That was the end of al Qaeda. And then the revolution in Egypt. Nonviolent, peaceful uprisings of people who wanted democracy and who don't want al Qaeda. That has done more to undo - you see, all of these years, what people in the Middle East did bin Laden free? What freedom or anything did he bring to anybody there? The people on the streets of Tunisia, though, they freed their country. The people on the streets of Egypt, they freed their country. The people in Syria are going to free their country. The people in Jordan, all throughout that area, they are going to do this.</p>
<p>They don't want al Qaeda. They don't need al Qaeda. Al Qaeda is dead to them. So we need to just step back from this and say, bin Laden's dead. What now should we be doing with a trillion dollars that shouldn't be going into unnecessary wars?</p>
<p>- Matt Hadro</p> | true | 0 | ever looking criticize american populace cardboard platform filmmaker michael moore lashed thursday cnn supporters osama bin ladens assassination weve lost something soul country said mission kill al qaeda leader rather capture try court guest piers morgan tonight moore contrasted assassination postworld war ii nuremburg trials claimed america unlike put level enemies trying leaders instead simply executing liberal filmmaker ripped americans disregard trial support assassination second say youre saying hate american huffed hate stand hate constitution stands forwe standing saying listen damn americans way commit crime put trial americans would want terrorist trial take place civilian courts new york city wusses according moore hear stuff like like bunch wusseswere afraid even put trial somebody might get hurt might get mad part world plan hurt us well actually seemed prevailing sentiment attorney general eric holder announced 2009 trial 911 mastermind khalid sheik mohammed held downtown manhattan moore didnt let fears majority americans get way hitting obama left lengthy interview cnn granted moore also took time admonish americans celebrated bin ladens death dont think jesus would go ground zero like lot people sunday night champagne bottles pop corks party preached moore added later would like know long obama administration known location osama bin laden expressed similar sentiment 2003 claimed bush administration knew location bin laden would take since funded bushs friends saudi arabia moore also believes al qaeda longer exists official terrorist organization think lot people running around calling al qaeda said group dismantled revolutions began north africa middle east think day revolution began tunisia said transcript segment aired may 5 807 pm edt follows 807 piers morgan next guest man strong controversial opinions especially comes osama bin laden says al qaedas top man executed united states michael moore joins michael let start simple question pleased heard bin laden killed michael moore im pleased longer around harm anybody world better place without celebrate someones death think goes step way raised raised irish catholic home believe principles raised hear lot people country often say would jesus dont think jesus would go ground zero like lot people sunday night champagne bottles pop corks party 820 moore killed im saying didnt kill kind firefight something going went intention kill thats execution assassination whatever want call think think look like said im glad hes gone feel something weve lost something soul country maybe im old school american believes american judicial system something separates us parts countries say everybody day court matter bad person matter piece scum right trial man mass murderer responsible deaths least country nearly 3000 people know world war ii didnt go put bullet head top nazis put trial took nuremberg put trial said important world see criminals important history record going courtroom going show germans fairness justice youre going get attorney get day court thats thats separates us nazi scum 822 moore point dont need trial get rid second say youre saying hate american hate stand hate constitution stands stand something different better dont operate uncivilized way way 911 operate moral way better way show dont bring new york dont trial new york could put us jeopardy could might know hear stuff like like bunch wusses afraid even put trial somebody might get hurt might get mad part world plan hurt us know standing saying listen damn americans way commit crime put trial thats way works try hurt us mess us youve got something coming know instead new york oh dont tru know like weve lost something think thats know made people feel good navy seals know number navy seals army rangers guys really mean best best amazing matter minutes done years years years ago terms finding bringing sort justice 829 morgan im back special guest michael moore michael lets turn existence bin laden compound emerging tonight washington post claims tonight cia watching bin laden compound quite time certainly theory youve putting forward think fact bin laden appears five years large property right next pakistanis military intelligence moore right next door right next door west point well know asking us believe nobody knew mean think people would assume pakistani government knew remember pakistan government probably third fourth largest recipient foreign aid 15 billion year weve paying lot money wanted find bin laden stop al qaeda pakistan wasnt best interests really show close know saturday night know broadway keep show going think pakistani government liked show generals made lot money lot generals nice vacation homes town paid various bribes funds provided tax dollars mine morgan michael let put point moore yeah morgan would go youve hinted would go say president obama intelligence advisers suggesting knowledge considerable period time moore id like know id like know think know theyve admitted theyve known time id like know long time five years seriously deal cut pakistanis would essentially keep house arrest think theres body guards house weve always heard bin laden body guards show night sunday night theres single bodyguard theres two couriers guys essentially like personal fed ex theres bodyguards protecting well well maybe hes already pakistani military base protected watched maybe house arrest knows mean theres number possibilities questions need asked demand answers something doesnt smell right think president obama get bottom fortunately president also lawyer smart guy think probably hes spending certain amount time right getting bottom truth real story eventually know story morgan terms afghanistan obviously weve taken leader al qaeda entity continues exist various forms around world moore really like morgan would withdraw well dont believe al qaeda exists form moore think lot people running around calling al qaeda think first think bin laden house five years hes got laptop wont let internet okay first somebody said hes probably guy last decade got work done kind work could mean essentially pakistani government sort watch house arrest whatever called know havent events linked last years fairly subdued want say terms actual terrorist morgan believe al qaeda dismantled moore well think listen actually day al qaeda dismantled personally frankly think day revolution began tunisia end al qaeda revolution egypt nonviolent peaceful uprisings people wanted democracy dont want al qaeda done undo see years people middle east bin laden free freedom anything bring anybody people streets tunisia though freed country people streets egypt freed country people syria going free country people jordan throughout area going dont want al qaeda dont need al qaeda al qaeda dead need step back say bin ladens dead trillion dollars shouldnt going unnecessary wars matt hadro | 1,065 |
<p />
<p>With the stock market just under its all-time highs, it's getting more and more difficult to find investments that could be called "cheap." One smart place to look for attractive values and strong dividends is in the real estate sector. Here are two equity REITs, both of which pay over 3% dividends, that look attractive enough to buy right now.</p>
<p>Continue Reading Below</p>
<p>Apartment real estate investment trust Equity Residential (NYSE: EQR) could be a smart way to invest in some of the most attractive rental markets in the United States, at a time when the homeownership rate is at a generational low.</p>
<p><a href="http://ycharts.com/indicators/us_home_ownership_rate" type="external">U.S. Homeownership Rate</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>The company owns or has an interest in 315 apartment properties with nearly 80,000 individual housing units, most of which are located in expensive, high-barrier, urban rental markets. In fact, the entire portfolio is located in six coastal markets -- Boston, New York, D.C., Seattle, San Francisco, and Southern California.</p>
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<p>Equity Residential specializes in apartment buildings in high-cost locations. (Note: Image is not one of EQR's properties.) Image source: Getty Images.</p>
<p>These markets have high costs of homeownership, as well as stronger-than-average growth in new renter household formations. These markets have experienced 50% higher income growth than the U.S. average since 2003, which has led to a superior rental growth rate and low vacancies.</p>
<p>Equity has done a great job of increasing its income while managing expenses. Over the past decade, Equity's same-store revenue has grown at a 3.2% annualized rate, while expenses have grown by 1.8%.</p>
<p>In addition to maximizing revenue at its existing properties, Equity has several other ways to create value for shareholders. Development is one way Equity adds value -- if you can build a property for less than its completed value, you can earn higher yields and create instant equity. Renovations are another focus right now. Equity plans to invest about $50 million per year in kitchen and bathroom upgrades, and these renovations produce a yield on cost of 12%-15% per year. And, with one of the best investment-grade credit ratings in the REIT sector (A-/Baa1), Equity has the financial flexibility to pursue attractive opportunities as they come up.</p>
<p>Equity's stock price has fallen 10% from its peak even though its business is strong, mainly thanks to the expectation of rising interest rates. Now could be a great time to get into one of the biggest and best apartment REITs at a discount.</p>
<p>Many investors are reluctant to invest in physical retail of any kind, and who could blame them? Many retailers are struggling to stay in business, and on the day that I write this, Bebe Stores announced plans to close all of its retail locations and focus on e-commerce.</p>
<p>However, take a look at Tanger Outlets (NYSE: SKT), which owns 44 outlet shopping centers in 22 states and Canada. The stock has fallen more than 22% from its peak, and now has an attractive 4.1% dividend yield. The company is a member of the S&amp;P High Yield Dividend Aristocrat Index, having raised its dividend every year since its IPO nearly 25 years ago.</p>
<p>Most of Tanger's properties are in the eastern half of the United States, and they currently boast an impressive 98% occupancy rate, so there's no sign that Tanger's properties are losing stores. In fact, Tanger's occupancy has never fallen below 95%, no matter what the economy has done. As President &amp; CEO Steven Tanger says, "In good times people love a bargain, and in tough times, people need a bargain." In other words, Tanger's business model works in all economic environments.</p>
<p>Image source: Tanger Outlets company presentation.</p>
<p>One of my favorite things about Tanger is its growth potential. The outlet industry is rather small, with a total of less than 70 million square feet of space, of which Tanger owns more than 20%. This means that there are limited opportunities for acquisitions, but there is plenty of room for ground-up development, which as I discussed with Equity Residential, can be a great way to create value.</p>
<p>The company has two projects currently under construction, and Tanger says that it has begun site selection and pre-development activities in other markets that aren't currently served by the outlet industry.</p>
<p>As far as financial ability to expand goes, Tanger has an investment-grade credit rating (BBB+/Baa1) as well as an excellent interest coverage ratio of 5.23-to-one. In other words, the company earns $5.23 for every $1.00 it pays in interest on its debts, a low ratio relative to most other REITs.</p>
<p>To be fair, both stocks could easily fall further, especially if interest rates rise faster than the market expects. Plus, there are company-specific risks involved with each of these stocks. Just to name a couple of examples, we could see an unexpected uptick in the homeownership rate, which could lead to reduced rental income for Equity Residential. Or, Tanger could lose a major tenant to financial difficulties, which could cause the company's earnings to take a hit.</p>
<p>The bottom line is that no stock capable of market-beating returns is without risk, and these two are certainly no exception. However, I believe that any negative catalysts are likely to be temporary and that both of these companies have bright futures ahead.</p>
<p>10 stocks we like better than Tanger Factory Outlet CentersWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
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<p>*Stock Advisor returns as of April 3, 2017</p>
<p><a href="http://my.fool.com/profile/KWMatt82/info.aspx" type="external">Matthew Frankel Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool recommends Tanger Factory Outlet Centers. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | stock market alltime highs getting difficult find investments could called cheap one smart place look attractive values strong dividends real estate sector two equity reits pay 3 dividends look attractive enough buy right continue reading apartment real estate investment trust equity residential nyse eqr could smart way invest attractive rental markets united states time homeownership rate generational low us homeownership rate data ycharts opens new window company owns interest 315 apartment properties nearly 80000 individual housing units located expensive highbarrier urban rental markets fact entire portfolio located six coastal markets boston new york dc seattle san francisco southern california advertisement equity residential specializes apartment buildings highcost locations note image one eqrs properties image source getty images markets high costs homeownership well strongerthanaverage growth new renter household formations markets experienced 50 higher income growth us average since 2003 led superior rental growth rate low vacancies equity done great job increasing income managing expenses past decade equitys samestore revenue grown 32 annualized rate expenses grown 18 addition maximizing revenue existing properties equity several ways create value shareholders development one way equity adds value build property less completed value earn higher yields create instant equity renovations another focus right equity plans invest 50 million per year kitchen bathroom upgrades renovations produce yield cost 1215 per year one best investmentgrade credit ratings reit sector abaa1 equity financial flexibility pursue attractive opportunities come equitys stock price fallen 10 peak even though business strong mainly thanks expectation rising interest rates could great time get one biggest best apartment reits discount many investors reluctant invest physical retail kind could blame many retailers struggling stay business day write bebe stores announced plans close retail locations focus ecommerce however take look tanger outlets nyse skt owns 44 outlet shopping centers 22 states canada stock fallen 22 peak attractive 41 dividend yield company member sampp high yield dividend aristocrat index raised dividend every year since ipo nearly 25 years ago tangers properties eastern half united states currently boast impressive 98 occupancy rate theres sign tangers properties losing stores fact tangers occupancy never fallen 95 matter economy done president amp ceo steven tanger says good times people love bargain tough times people need bargain words tangers business model works economic environments image source tanger outlets company presentation one favorite things tanger growth potential outlet industry rather small total less 70 million square feet space tanger owns 20 means limited opportunities acquisitions plenty room groundup development discussed equity residential great way create value company two projects currently construction tanger says begun site selection predevelopment activities markets arent currently served outlet industry far financial ability expand goes tanger investmentgrade credit rating bbbbaa1 well excellent interest coverage ratio 523toone words company earns 523 every 100 pays interest debts low ratio relative reits fair stocks could easily fall especially interest rates rise faster market expects plus companyspecific risks involved stocks name couple examples could see unexpected uptick homeownership rate could lead reduced rental income equity residential tanger could lose major tenant financial difficulties could cause companys earnings take hit bottom line stock capable marketbeating returns without risk two certainly exception however believe negative catalysts likely temporary companies bright futures ahead 10 stocks like better tanger factory outlet centerswhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right tanger factory outlet centers wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns april 3 2017 matthew frankel opens new window position stocks mentioned motley fool recommends tanger factory outlet centers motley fool disclosure policy opens new window | 612 |
<p>“We’re glad you called. Please stay on the line and a customer representative will be with your shortly.”</p>
<p>How many times have you called your cable company or insurance company, maybe your bank or phone company, and heard those words?</p>
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<p>Usually “pre-recorded” words…and usually leading you to more “pre-recorded” words, complete with listed options to hear still “other” pre-recorded words? Not a one spoken by a live person. In fact, I’m pretty sure these are more like automated voice algorithms -- an amalgam of officialdom, if you will.</p>
<p>But then again, you were the idiot who called, weren’t you? Aren’t you? You were the one who all but assaulted good form by not going to said company’s website first.</p>
<p>So this is said company’s way of making you pay dearly for that indiscretion now, by making you go through pre-recorded hell; a hell defined not by simple answers, but by un-ending sequences.</p>
<p>Tell me if this sounds familiar: “Press 1, if you’re having service problems; Press 2, if maybe you’re the problem.”</p>
<p>You get the point. Calling customer service almost anywhere seems pretty pointless.</p>
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<p>So many questions, so many steps, so many sequences, and usually without talking to so much as one solitary live soul…that more often than not I’m betting folks just hang up in disgust.</p>
<p>Because they’ve waited so long just trying to get a simple answer, to what they thought was a simple issue. Problem is, as damn luck would have it, that issue was invariably not among the numbered options kindly mentioned by a pre-recorded voice that’s a cross between “Siri” and Hal in “2001: A Space Odyssey.”</p>
<p>Officious. But distant. It’s like we have all entered a customer service calling world that I like to call “coolly clueless.” I frankly don’t know what annoys me more -- the endless waiting or the meaningless assurance I won’t be waiting much longer.</p>
<p>A friend of mine who works in marketing told me there’s actually a science to this -- much like long lines at Disney World that keep weaving and turning, and leaving crowds hoping maybe this waiting hell is ending. “You want to give the customer the appearance she’s making progress,” he tells me, “even if she’s not.”</p>
<p>So whether it’s those constant reminders that “someone will be right with you,” or soothing music to calm you, the hope is that you’ll feel you’re moving along, even if you’re actually being taken for a ride. Then again, you called, didn’t you? I’m betting they’re just hoping you hang up, so they can be done with you. Then they can tend to the idiot who either fell asleep or didn’t show half as much gumption as you.</p>
<p>I always wonder what damage is done to a brand when the company behind that brand treats its customers like cattle. And then has the nerve to remind those customers they’re being recorded being treated like cattle, with the spiffy pre-recorded line: “Your call may be monitored to ensure high quality service.”</p>
<p>Perhaps because so many of us don’t expect anything approaching just basic service, let alone high quality service, we just hang up on that service. Is it any wonder Comcast is having such a devil of a time winning over customers to its grand ambitions. Maybe it’s because they have a big problem answering so much as a single service call, or having a technician show up within the eight-hour window for that supposed-service call. They keep us waiting and agitating but they don’t seem to care, because I guess they figure where else would we be going?</p>
<p>Sadly, those companies that you’d think are all about customer service don’t much care if they don’t provide anything approaching that service. They’ll talk a good game -- even brag in their pre-recorded sequences how looking after you is not a game, but yet they seem to all play these games.</p>
<p>Maybe they’re clueless because they’re soul-less, or are they soul-less because they’re clueless? Sometimes I forget. What I do know is that increasingly a lot of companies forget us -- their bread and butter. And maybe that’s because they figure where else are we going to go?</p>
<p>Many of these firms giving us the runaround are the only games in town. They control monopolies in their respective markets, in which there are few alternatives, or if there are alternatives, they’re just as inept and just as rude.</p>
<p>What’s odder still is the improvements that many of these companies claim they’re making to be more humane, but invariably not with more humans. Some service call centers boast “almost human” automated responses, in which callers can sound out their responses to a mechanized automated operator who somehow manages to play back their comments and requests. We seem flattered the robot heard us, even if more often than not, the first time the robot heard us state that account number, the robot heard it wrong.</p>
<p>I know all this saves companies money. But what does it lose them in customer loyalty? I suspect a lot more.</p>
<p>But I also suspect these same companies have weighed the customer frustration part and concluded if an automated response can get them answers, why hire real-live human beings that cost us money?</p>
<p>One time I actually stayed on the line to relay my experience over a company’s “tell us about your service” survey line (naturally, automated as well). Yet nowhere among the options did I hear: “Press 1 if you think we were rude,” or “Press the Pound Key if you’d prefer pounding our face in if you ever saw us crossing the street.”</p>
<p>No, that would be too easy. Almost as easy as losing customers.</p> | true | 0 | glad called please stay line customer representative shortly many times called cable company insurance company maybe bank phone company heard words continue reading usually prerecorded wordsand usually leading prerecorded words complete listed options hear still prerecorded words one spoken live person fact im pretty sure like automated voice algorithms amalgam officialdom idiot called werent arent one assaulted good form going said companys website first said companys way making pay dearly indiscretion making go prerecorded hell hell defined simple answers unending sequences tell sounds familiar press 1 youre service problems press 2 maybe youre problem get point calling customer service almost anywhere seems pretty pointless advertisement many questions many steps many sequences usually without talking much one solitary live soulthat often im betting folks hang disgust theyve waited long trying get simple answer thought simple issue problem damn luck would issue invariably among numbered options kindly mentioned prerecorded voice thats cross siri hal 2001 space odyssey officious distant like entered customer service calling world like call coolly clueless frankly dont know annoys endless waiting meaningless assurance wont waiting much longer friend mine works marketing told theres actually science much like long lines disney world keep weaving turning leaving crowds hoping maybe waiting hell ending want give customer appearance shes making progress tells even shes whether constant reminders someone right soothing music calm hope youll feel youre moving along even youre actually taken ride called didnt im betting theyre hoping hang done tend idiot either fell asleep didnt show half much gumption always wonder damage done brand company behind brand treats customers like cattle nerve remind customers theyre recorded treated like cattle spiffy prerecorded line call may monitored ensure high quality service perhaps many us dont expect anything approaching basic service let alone high quality service hang service wonder comcast devil time winning customers grand ambitions maybe big problem answering much single service call technician show within eighthour window supposedservice call keep us waiting agitating dont seem care guess figure else would going sadly companies youd think customer service dont much care dont provide anything approaching service theyll talk good game even brag prerecorded sequences looking game yet seem play games maybe theyre clueless theyre soulless soulless theyre clueless sometimes forget know increasingly lot companies forget us bread butter maybe thats figure else going go many firms giving us runaround games town control monopolies respective markets alternatives alternatives theyre inept rude whats odder still improvements many companies claim theyre making humane invariably humans service call centers boast almost human automated responses callers sound responses mechanized automated operator somehow manages play back comments requests seem flattered robot heard us even often first time robot heard us state account number robot heard wrong know saves companies money lose customer loyalty suspect lot also suspect companies weighed customer frustration part concluded automated response get answers hire reallive human beings cost us money one time actually stayed line relay experience companys tell us service survey line naturally automated well yet nowhere among options hear press 1 think rude press pound key youd prefer pounding face ever saw us crossing street would easy almost easy losing customers | 520 |
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<p>All eyes are one President-elect Donald Trump as he continues his transition to the White House. As Trump slowly fills positions in his cabinet, FOXBusiness.com takes a closer look at his most recent nominations:</p>
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<p>Ret. Marine Corps General James "Mad Dog" Mattis has served more than 40 years in the United States Military. The retired four-star general’s nomination for Defense Secretary was announced on December 1, during one of the stops on Trump’s ”thank-you tour.” However, due to a federal law that requires retired service members to wait seven years before being allowed to hold the office of Secretary of Defense, Mattis will need a waiver from Congress in order to be appointed.</p>
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<p>Former Goldman Sachs (NYSE:GS) executive Steve Mnunchin was nominated as Treasury Secretary on November 30. Mnunchin will play a pivotal role in shaping the Trump administration’s economic policies, including making good on the President-elect's promise to cut taxes.</p>
<p>The Yale University graduate, who has a net worth estimated to be $47 million, has the potential to save millions more if he is confirmed. There is a loophole that would allow him to sell his stock tax-free, as long as he reinvests in Treasuries or government-approved funds. The loophole was designed to avoid conflicts-of-interest.</p>
<p>Billionaire investor Wilbur Ross was nominated for Commerce Secretary on November 30. Although he has never held a government position, Ross was a senior policy advisor for Trump during his presidential campaign. His net worth is an estimated $2.9 billion.</p>
<p>If appointed, Ross will oversee an agency with roughly 47,000 employees and a variety of departments, including the U.S. Patent and Trademark Office and the National Oceanic and Atmospheric Administration.</p>
<p>Representative Tom Price (R-GA) was nominated for Health and Human Services Secretary on November 29. If appointed, Price would be the nation’s top health official and would lead the effort toward repealing President Obama's Affordable Care Act – something Trump promised to do throughout his presidential campaign.</p>
<p>Price has already submitted a plan to the current Congress to repeal and replace Obamacare, called the Empowering Patients First Act. The former orthopedic surgeon is strongly against tax rate increases and supports spending reductions. He also aligns with Trump’s views on abortion.</p>
<p>Elaine Chao, the former U.S. Secretary of Labor under President George W. Bush, was nominated for Transportation Secretary on November 29. If appointed, Chao would oversee Trump’s $1 trillion infrastructure plan. The Harvard graduate was highly regarded by both political parties during her tenure as Labor Secretary.</p>
<p>Some of her accomplishments include helping update white collar overtime regulations under the Fair Labor Standards Act, getting millions of embezzled dollars reimbursed to union workers and providing aid for families who have to care for wounded veterans. Chao isn't the only politician in her family; her husband is Senate Majority Leader Mitch McConnell.</p>
<p>The Chief Executive Officer of ExxonMobil Corporation (NYSE:XOM), Rex Tillerson has been nominated by President-elect Trump to fill arguably the most important position in his Cabinet: Secretary of State. Tillerson has spent over 40 years at Exxon, and critics have concerns over whether his tenure at the global oil and gas giant will be a conflict of interest.</p>
<p>There are also concerns about Tillerson’s relationship with Russian President Vladimir Putin, which could create some resistance from both Republicans and Democrats in Congress during his confirmation hearing. It’s also worth noting that Tillerson never donated to the Trump campaign.</p>
<p>Tillerson has spent his entire working career at ExxonMobil, and has worked his way through the ranks to the top.</p>
<p>President-elect Trump has tapped CEO of CKE Restaurants (parent company of Carl’s Jr. and Hardee’s burger chains), Andrew F. Puzder for Labor Secretary. Puzder has been critical of President Obama’s policies over the years, including Obamacare, overtime rules, and the minimum wage.</p>
<p>On a personal blog after President-elect Trump defeated Hillary Clinton, Puzder said the “victory means economic growth, jobs &amp; a business-friendly climate. We all win.”</p>
<p>From the world of professional wrestling to a position in Trump’s Cabinet, former chief executive of World Wrestling Entertainment, Linda McMahon, has been tasked with the role of Small Business Administration administrator.</p>
<p>The former co-founder and CEO of WWE was an early supporter of the Trump campaign, and contributed $7.5 million to pro-Trump Super PACs. McMahon tried her hand at government, running for the Senate back in 2010 and 2012, but lost both times. She has an extensive history with President-elect Trump, dating back 30 years.</p>
<p>Oklahoma Attorney General, Scott Pruitt, is set to head the EPA. The pick hasn't garnered a lot of support from environmentalists though, as Pruitt opposes many climate change initiatives, including President Obama’s Clean Power Plan.</p>
<p>Pruitt has several ties to the energy sector. He also believes the EPA should not be involved in climate action - stirring controversy and concern among climate change activists.</p>
<p>President-elect Trump announced Tuesday December 12, Retired Marine Corps General John F. Kelly is his pick for Homeland Security Secretary. Kelly, who endorsed neither Clinton nor Trump during the presidential election, has a 40-year background in the military, and has served multiple tours in Iraq. He was also an enlisted infantry Marine during the Vietnam War.</p>
<p>With more than 240,000 employees, the Department of Homeland Security is the third largest Cabinet department, and encompasses multiple areas, such as terrorism and immigration. The four-star Marine general has diverged from the Obama administration on several important policy decisions, including shutting down Guantanamo Bay, pulling out of Iraq, and opening all combat roles to women.</p>
<p>It’s funny how things work out – former Texas Governor, Rick Perry, who vowed to remove the Energy Department during his own presidential campaign, might soon be leading the very same agency. President-elect Trump plans to pick Perry for Energy Secretary according to sources from Fox News.</p>
<p>Perry would be the first non-scientist to hold the position in recent years, but he did govern the state of Texas for 15 years, which is nation’s biggest producer of oil. He is known for his strong stance on immigration and as a proponent of limited government.</p>
<p>President-elect Trump nominated Senator Jeff Sessions (R-AL) for U.S. Attorney General in mid-November. The Senator has been a constant critic of President Obama’s policies throughout the years, including immigration, legalizing marijuana, and LGBT rights. Sessions was one of Trump’s first supporters, and some major changes could shake up the Justice Department if his appointment is confirmed by the Senate.</p>
<p>Retired Neurosurgeon and former Republican presidential candidate Dr. Ben Carson has been nominated by President-elect Trump for Housing and Urban Development Secretary. Carson was quick to endorse Trump after dropping out of the GOP presidential race, and has been a loyal surrogate ever since. However, critics argue he has little experience to lead the Housing and Urban Development Department. Although he has no prior experience in government either to fall back on, Carson cites his difficult childhood growing up Detroit, as well as his background treating patients in the inner-city, as factors that make him a suitable candidate for the job.</p>
<p>President-elect Trump picked Representative Ryan Zinke (R-MT) for Interior Secretary. Zinke is a trained geologist, and his energy policy plan includes renewables, hydropower, and biofuels. He is also a former Navy officer, serving from 1985-2008.</p>
<p>Betsy DeVos is an education activist and the chair of the American Federation for Children — an advocacy group that supports charter schools and pushes for school voucher programs. DeVos comes from a wealthy family; however, she didn’t donate any money toward the Trump campaign. Although Trump has vowed to get rid of Common Core, DeVos’ position on the subject remains unclear.</p>
<p>Lieutenant General Michael Flynn was nominated by President-elect Trump in mid-November for the positon of National Security Advisor. Flynn served as the Director of the Defense Intelligence Agency from 2012-2014 before being asked to step down due to a disagreement with the administration’s stance on extremism. He has been a strong critic of President Obama’s response to ISIS. However, he faces some critics of his own over his views on Russia.</p>
<p>Mike Pompeo (R-KS) was elected to the U.S. House of Representatives for a second&#160;term in 2010, and has been selected by President-elect Trump to head the Central Intelligence Agency. Pompeo has clashed with Obama on national and foreign security issues. He has plans to expand government surveillance, keep Guantanamo Bay running, and aligns with Trump on his distaste for the Iran Nuclear Deal.</p>
<p>Governor Nikki Haley (R-SC) has been nominated as the next U.N. Ambassador. Although she has little foreign policy experience she does align with mainstream views of the GOP. If confirmed she will have to step down from her role as Governor, and the state’s Lieutenant Governor, Henry McMaster, will take over.</p> | true | 0 | eyes one presidentelect donald trump continues transition white house trump slowly fills positions cabinet foxbusinesscom takes closer look recent nominations continue reading ret marine corps general james mad dog mattis served 40 years united states military retired fourstar generals nomination defense secretary announced december 1 one stops trumps thankyou tour however due federal law requires retired service members wait seven years allowed hold office secretary defense mattis need waiver congress order appointed advertisement former goldman sachs nysegs executive steve mnunchin nominated treasury secretary november 30 mnunchin play pivotal role shaping trump administrations economic policies including making good presidentelects promise cut taxes yale university graduate net worth estimated 47 million potential save millions confirmed loophole would allow sell stock taxfree long reinvests treasuries governmentapproved funds loophole designed avoid conflictsofinterest billionaire investor wilbur ross nominated commerce secretary november 30 although never held government position ross senior policy advisor trump presidential campaign net worth estimated 29 billion appointed ross oversee agency roughly 47000 employees variety departments including us patent trademark office national oceanic atmospheric administration representative tom price rga nominated health human services secretary november 29 appointed price would nations top health official would lead effort toward repealing president obamas affordable care act something trump promised throughout presidential campaign price already submitted plan current congress repeal replace obamacare called empowering patients first act former orthopedic surgeon strongly tax rate increases supports spending reductions also aligns trumps views abortion elaine chao former us secretary labor president george w bush nominated transportation secretary november 29 appointed chao would oversee trumps 1 trillion infrastructure plan harvard graduate highly regarded political parties tenure labor secretary accomplishments include helping update white collar overtime regulations fair labor standards act getting millions embezzled dollars reimbursed union workers providing aid families care wounded veterans chao isnt politician family husband senate majority leader mitch mcconnell chief executive officer exxonmobil corporation nysexom rex tillerson nominated presidentelect trump fill arguably important position cabinet secretary state tillerson spent 40 years exxon critics concerns whether tenure global oil gas giant conflict interest also concerns tillersons relationship russian president vladimir putin could create resistance republicans democrats congress confirmation hearing also worth noting tillerson never donated trump campaign tillerson spent entire working career exxonmobil worked way ranks top presidentelect trump tapped ceo cke restaurants parent company carls jr hardees burger chains andrew f puzder labor secretary puzder critical president obamas policies years including obamacare overtime rules minimum wage personal blog presidentelect trump defeated hillary clinton puzder said victory means economic growth jobs amp businessfriendly climate win world professional wrestling position trumps cabinet former chief executive world wrestling entertainment linda mcmahon tasked role small business administration administrator former cofounder ceo wwe early supporter trump campaign contributed 75 million protrump super pacs mcmahon tried hand government running senate back 2010 2012 lost times extensive history presidentelect trump dating back 30 years oklahoma attorney general scott pruitt set head epa pick hasnt garnered lot support environmentalists though pruitt opposes many climate change initiatives including president obamas clean power plan pruitt several ties energy sector also believes epa involved climate action stirring controversy concern among climate change activists presidentelect trump announced tuesday december 12 retired marine corps general john f kelly pick homeland security secretary kelly endorsed neither clinton trump presidential election 40year background military served multiple tours iraq also enlisted infantry marine vietnam war 240000 employees department homeland security third largest cabinet department encompasses multiple areas terrorism immigration fourstar marine general diverged obama administration several important policy decisions including shutting guantanamo bay pulling iraq opening combat roles women funny things work former texas governor rick perry vowed remove energy department presidential campaign might soon leading agency presidentelect trump plans pick perry energy secretary according sources fox news perry would first nonscientist hold position recent years govern state texas 15 years nations biggest producer oil known strong stance immigration proponent limited government presidentelect trump nominated senator jeff sessions ral us attorney general midnovember senator constant critic president obamas policies throughout years including immigration legalizing marijuana lgbt rights sessions one trumps first supporters major changes could shake justice department appointment confirmed senate retired neurosurgeon former republican presidential candidate dr ben carson nominated presidentelect trump housing urban development secretary carson quick endorse trump dropping gop presidential race loyal surrogate ever since however critics argue little experience lead housing urban development department although prior experience government either fall back carson cites difficult childhood growing detroit well background treating patients innercity factors make suitable candidate job presidentelect trump picked representative ryan zinke rmt interior secretary zinke trained geologist energy policy plan includes renewables hydropower biofuels also former navy officer serving 19852008 betsy devos education activist chair american federation children advocacy group supports charter schools pushes school voucher programs devos comes wealthy family however didnt donate money toward trump campaign although trump vowed get rid common core devos position subject remains unclear lieutenant general michael flynn nominated presidentelect trump midnovember positon national security advisor flynn served director defense intelligence agency 20122014 asked step due disagreement administrations stance extremism strong critic president obamas response isis however faces critics views russia mike pompeo rks elected us house representatives second160term 2010 selected presidentelect trump head central intelligence agency pompeo clashed obama national foreign security issues plans expand government surveillance keep guantanamo bay running aligns trump distaste iran nuclear deal governor nikki haley rsc nominated next un ambassador although little foreign policy experience align mainstream views gop confirmed step role governor states lieutenant governor henry mcmaster take | 906 |
<p>As part of the Morton County Sheriff’s Department’s effort to quash the movement camped in opposition to construction of the Dakota Access Pipeline, national chain ACE hardware stores have been instructed by law enforcement not to sell any incendiary devices — that includes propane tanks Standing Rock Sioux water protectors partially rely on for heat in the bitter winter conditions.</p>
<p>In other words, law enforcement has effectively quashed the sale of potentially life-saving supplies to those encamped at Standing Rock as bitter winter conditions grip the Oceti Sakowin and other camps.</p>
<p>Activist and live-streamer, Kevin Gilbertt, whose video of a police offensive against water protectors on Highway 1806’s Backwater Bridge went viral and exposed barbarous police tactics, received by email a letter defining ACE Hardware’s sudden change in policy — with a contact phone number.</p>
<p>“Just wanted to check on a policy that I’d heard about, to make sure [of] the truth of this policy,” he asks the ACE Hardware contact, Camillia, as he recorded the phone conversation. “I’ve been informed that in the area around the pipeline in North Dakota, ACE Hardware were no longer able to sell anything considered incendiary, including propane.</p>
<p>“Can you confirm that as being true?”</p>
<p>“That is true, ACE Hardware stores in the vicinity of the recent pipeline protests have been requested by law enforcement officials to refrain from selling materials that could be used as incendiary devices; so ACE’s number one priority is to protect the safety of its employees, customers, and the communities each store serves — ACE will continue to cooperate with law enforcement officials. ACE’s compliance is not a reflection of any corporate viewpoint on the actual pipeline project,” Camillia states.</p>
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<p>Local law enforcement officials have apparently taken it upon themselves to determine precisely how North Dakota Governor Jack Dalrymple’s recent emergency, mandatory <a href="http://thefreethoughtproject.com/breaking-nd-gov-makes-emergency-declaration-issues-mandatory-evacuation-standing-rock-camp/" type="external">evacuation</a> should be interpreted.</p>
<p>On Tuesday, the Morton County Sheriff’s Department first announced plans for a blockade on incoming supplies — including food — to the Standing Rock Sioux water protectors and their thousands of supporters camped near Cannon Ball. Although the governor’s office quickly reversed those plans, announcing there would be no such blockade, the sheriff’s department modified blocking the delivery of supplies by stating it would issue fines of $1,000 to anyone attempting to deliver needed equipment to Standing Rock.</p>
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<p>Dalrymple’s emergency evacuation order came as a winter storm began to grip the area — but it has been unclear whether it or an <a href="http://thefreethoughtproject.com/army-corps-evict-notice-standing-rock/" type="external">eviction</a> order for December 5, issued by the Army Corps of Engineers has standing authority.</p>
<p>Thwarted by the governor, ACE Hardware’s sudden reversal of policy appears to be the sheriff’s next step in attempting to clear the camps of water protectors — but their vow to stay out the bitter North Dakota winter means a company’s refusal to sell necessary heating equipment could be asking for tragedy.</p>
<p>Per the letter Gilbertt received from ACE Hardware:</p>
<p>“Hello Dr.Scott Litch,</p>
<p>Thank you for contacting the Ace Care Center.</p>
<p>Ace Hardware stores in the vicinity of recent pipeline protests in North Dakota have been requested by law enforcement officials to refrain from selling materials that could be used as incendiary devices. Ace’s number one priority is to protect the safety of its employees, customers and the communities each store serves; Ace will continue to cooperate with law enforcement officials. Ace’s compliance is not a reflection of any corporate viewpoint on the pipeline project.</p>
<p>If you need any further assistance, please do not hesitate to contact us and refer to incident 2529138.</p>
<p>Have a great day!</p>
<p>Sincerely,</p>
<p>Camillia H. | Ace Care Center</p>
<p>(888) 827-4223</p>
<p>Helpful is our Business – Caring is our Commitment”</p>
<p>Although that email and phone call were only one confirmation, other callers contacted ACE Hardware’s corporate headquarters for confirmation. In the following video, beginning around the 15:20 mark, you will hear the company’s headquarters, indeed, confirm the original account of compliance with local law enforcement demands:</p>
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<p>Some local businesses say they have not and will not turn any customers away — as heard around the 37:30 mark — despite strained relations between those encamped and the small towns in the area. Nevertheless, it is ACE Hardware’s acknowledgement of compliance from headquarters that remains a troubling point.</p>
<p>This effort to deny water protectors fundamentally necessary supplies — as temperatures dip well below the freezing mark — is a clear violation of human rights, a dismissal of law, and a tangible danger to human life.</p>
<p>Among those camped are tribal elders, the elderly, young children, pregnant women, newborn babies, and others. Arbitrarily depriving them of a needed heat source is a direct threat to life.</p>
<p>Morton County Sheriff Kyle Kirchmeier has <a href="http://thefreethoughtproject.com/morton-sheriff-lies-standing-rock/" type="external">claimed</a> water protectors used propane tanks to improvise explosives during the conflict with police on November 20 — but no evidence, other than highly suspect pictures with no context, has ever been produced by his office.</p>
<p>This is a developing story and will be updated if and when further information is made available.</p>
<p>Courtesy of <a href="http://thefreethoughtproject.com/ace-hardware-heating-supplies-water-protectors/" type="external">The Free Thought Project</a></p>
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<p /> | true | 0 | part morton county sheriffs departments effort quash movement camped opposition construction dakota access pipeline national chain ace hardware stores instructed law enforcement sell incendiary devices includes propane tanks standing rock sioux water protectors partially rely heat bitter winter conditions words law enforcement effectively quashed sale potentially lifesaving supplies encamped standing rock bitter winter conditions grip oceti sakowin camps activist livestreamer kevin gilbertt whose video police offensive water protectors highway 1806s backwater bridge went viral exposed barbarous police tactics received email letter defining ace hardwares sudden change policy contact phone number wanted check policy id heard make sure truth policy asks ace hardware contact camillia recorded phone conversation ive informed area around pipeline north dakota ace hardware longer able sell anything considered incendiary including propane confirm true true ace hardware stores vicinity recent pipeline protests requested law enforcement officials refrain selling materials could used incendiary devices aces number one priority protect safety employees customers communities store serves ace continue cooperate law enforcement officials aces compliance reflection corporate viewpoint actual pipeline project camillia states 160 local law enforcement officials apparently taken upon determine precisely north dakota governor jack dalrymples recent emergency mandatory evacuation interpreted tuesday morton county sheriffs department first announced plans blockade incoming supplies including food standing rock sioux water protectors thousands supporters camped near cannon ball although governors office quickly reversed plans announcing would blockade sheriffs department modified blocking delivery supplies stating would issue fines 1000 anyone attempting deliver needed equipment standing rock dalrymples emergency evacuation order came winter storm began grip area unclear whether eviction order december 5 issued army corps engineers standing authority thwarted governor ace hardwares sudden reversal policy appears sheriffs next step attempting clear camps water protectors vow stay bitter north dakota winter means companys refusal sell necessary heating equipment could asking tragedy per letter gilbertt received ace hardware hello drscott litch thank contacting ace care center ace hardware stores vicinity recent pipeline protests north dakota requested law enforcement officials refrain selling materials could used incendiary devices aces number one priority protect safety employees customers communities store serves ace continue cooperate law enforcement officials aces compliance reflection corporate viewpoint pipeline project need assistance please hesitate contact us refer incident 2529138 great day sincerely camillia h ace care center 888 8274223 helpful business caring commitment although email phone call one confirmation callers contacted ace hardwares corporate headquarters confirmation following video beginning around 1520 mark hear companys headquarters indeed confirm original account compliance local law enforcement demands local businesses say turn customers away heard around 3730 mark despite strained relations encamped small towns area nevertheless ace hardwares acknowledgement compliance headquarters remains troubling point effort deny water protectors fundamentally necessary supplies temperatures dip well freezing mark clear violation human rights dismissal law tangible danger human life among camped tribal elders elderly young children pregnant women newborn babies others arbitrarily depriving needed heat source direct threat life morton county sheriff kyle kirchmeier claimed water protectors used propane tanks improvise explosives conflict police november 20 evidence highly suspect pictures context ever produced office developing story updated information made available courtesy free thought project | 512 |
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<p>Image source: White House on Flickr.</p>
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<p>It's that time again, America: Open enrollment for the Affordable Care Act, better known as Obamacare, is in full swing through the end of January.</p>
<p>According to the latest update from the Centers for Medicare and Medicaid Services, there were 10.4 million paying customers at the end of June, more or less putting the program on track to have around 10 million paying customers by the end of 2016. Based on the latest analysis by the Centers for Disease Control and Prevention, just 8.9% of adults are currently uninsured in the United States, which is a substantial drop from the roughly 16% who were uninsured prior to Obamacare's implementation.</p>
<p>Heading into 2017, the goal is simple: lower the uninsured rate even more. If the first day of open enrollment is any indication, Obamacare looks to be off to a good start.</p>
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<p>As tweeted by HHS Media, the Department of Health and Human Services media account, 150,000 applications were submitted on the first day of open enrollment. After some digging by ACASignups.net, it appears more than 100,000 applications were submitted on the first day of open enrollment on Nov. 15, 2014 (for calendar year 2015), and 250,000 applications were submitted on the first two days (Nov. 1, 2015 and Nov.2, 2015) of last year's open enrollment period. If this year's pattern were to hold through the first two days, then roughly 50,000 extra applications would be submitted compared to last year.</p>
<p>It's important to note that applications don't equate to qualified health plan enrollments. Applicants could simply be submitting applications to see whether or not they qualify for the Advanced Premium Tax Credit (APTC) or cost-sharing reductions (CSRs). The APTC is the subsidy responsible for lowering what patients pay for their monthly premium, while cost-sharing reductions can lower what you'll pay in copays, deductibles, and coinsurance when you head to the doctor's office. The latest CMS report referenced above notes that 84% of the 10.4 million paying members are receiving the APTC, with 56% qualifying for CSRs.</p>
<p>Application filings could also be a means for consumers to browse around their respective marketplaces to see what plans are available. Nonetheless, it's an encouraging early sign.</p>
<p>However, a strong early showing in applications isn't reason yet to break out the champagne. Obamacare is facing a handful of challenges this year that could lead to a major deceleration, or even decline, in year-over-year enrollment.</p>
<p>Image source: Getty Images.</p>
<p>The biggest challenge facing Obamacare enrollees in 2017 is rapidly rising premium inflation.</p>
<p>In 2017, consumers across the country are facing an average individual market premium increase of 25% for benchmark silver plans (the second-lowest cost silver plan in each state), as <a href="http://www.usatoday.com/story/news/politics/2016/10/18/regulators-approve-higher-health-premiums-strengthen-obamacare-insurers/92286590/" type="external">reported Opens a New Window.</a> by USA Today using data gathered by ACASignups.net. Oklahoma, Minnesota, Tennessee, and Arizona are expecting weighted premiums to rise by more than 50% during this enrollment period, while residents in Montana, West Virginia, and Illinois are dealing with premium inflation of between 40% and 49%. While consumers receiving the APTC will be mostly shielded from these massive hikes, middle-class consumers earning more than 400% of the federal poverty level ($47,520) could struggle to absorb inflation of this magnitude.</p>
<p>At the heart of this year's rapid premium inflation are two stories. First, we have the failure of the risk corridor to provide a financial foundation for insurers. The risk corridor was a risk-pooling fund that took money from overly profitable insurers and disbursed it to insurers losing excessive amounts of money because they priced their premiums too low. However, just an eighth of the funds requested by money-losing insurers was disbursed, causing three-quarters of Obamacare-approved healthcare cooperatives (low-cost healthcare operators) to close their doors. This effectively eliminated a number of low-cost health insurance options for Americans.</p>
<p>The other big story is that three of the nation's five largest national insurers are pulling out of Obamacare marketplaces in 2017. UnitedHealth Group (NYSE: UNH), the nation's largest insurer, is exiting 34 state exchanges and will remain in only three in the upcoming year. Similarly, after the Justice Department blocked their merger attempt, Aetna (NYSE: AET) and Humana (NYSE: HUM) announced their intentions to reduce their county-based coverage by nearly 70% and 90%, respectively, on a year-over-year basis. All three insurers are cutting back on coverage after experiencing steep losses on ACA plans.</p>
<p>Given the declining competition, insurers are expected to have more pricing power in 2017.</p>
<p>Image source: Getty Images.</p>
<p>But it's not just premiums that could scare away consumers in 2017. Insurers have another trick up their sleeves to help reduce what they're spending on medical care.</p>
<p>Based on an <a href="https://www.healthpocket.com/healthcare-research/infostat/2017-obamacare-premiums-deductibles#.WB6Dmi0rKpp" type="external">analysis conducted by HealthPocket Opens a New Window.</a>, Obamacare deductibles are heading considerably higher in 2017. Deductibles are the amount of out-of-pocket payments you're responsible for before your insurance coverage kicks in. HealthPocket's study forecasts a 6% increase in average bronze plan deductibles to nearly $6,100 and a 15% increase in silver plan deductibles to more than $3,500. The big question here is whether some consumers will be unable to afford visits to the doctor, even if they can afford to pay their healthcare premiums. The answer may be yes for some lower- and middle-income individuals and families.</p>
<p>In fact, the average unsubsidized 50-year old making $48,000 a year -- slightly more than 400% of the federal poverty level -- would have to spend 14% of their monthly income just to purchase an average silver plan in 2017. This percentage doesn't even account for the average silver plan deductible of $3,572 if they were to need a lot of medical care, which could push their aggregate annual medical costs to more than 20% of their earned income.</p>
<p>Image source: Getty Images.</p>
<p>Adding fuel to the skeptics' fire is the idea that young adult enrollment could remain below par. Young adults are often healthier than older adults, meaning their premium payments are needed by insurers to help offset the costs of enrolling older and/or sicker adults.</p>
<p>Even though we've witnessed a progression in young adult enrollment in the previous three ACA enrollment periods, total young adult enrollment is still below expectations. As I've <a href="http://www.fool.com/investing/2016/09/10/obamacares-potentially-fatal-flaw.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">previously posited Opens a New Window.</a>, this likely has to do with the fairly large gap between the Shared Responsibility Payment (SRP) and the annual cost of a bronze-tier plan.</p>
<p>The SRP is the penalty imposed come tax time for consumers who didn't purchase health insurance. In 2014, the SRP was the greater of $95 or 1% of your modified adjusted gross income (MAGI). However, for 2016 it'll be the greater of $695 or 2.5% of MAGI. Even with this substantial increase, the penalty is only expected to average $969 in 2016, according to the Kaiser Family Foundation.</p>
<p>By comparison, HealthPocket notes that the average bronze premium in 2017 for a 30-year old is $311.17, a 21% increase from 2016. Extrapolate that out over the course of a year, and the average 30-year-old bronze plan enrollee will pay more than $3,700 just in premiums. Healthier young adults who simply don't head to the doctor much are likely to choose the penalty of $969 over a $3,700-plus cost.</p>
<p>Until the SRP more accurately reflects the annual cost of a bronze tier plan, young adult enrollment is likely to remain relatively low.</p>
<p>While it's far too early to determine how well or poorly Obamacare will fare in 2017, the major pricing challenges consumers are dealing with suggest that a decline in open enrollment isn't out of the question.</p>
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<p>The Motley Fool recommends UnitedHealth Group. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=isiedilnk018048&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://www.fool.com/knowledge-center/motley.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source white house flickr continue reading time america open enrollment affordable care act better known obamacare full swing end january according latest update centers medicare medicaid services 104 million paying customers end june less putting program track around 10 million paying customers end 2016 based latest analysis centers disease control prevention 89 adults currently uninsured united states substantial drop roughly 16 uninsured prior obamacares implementation heading 2017 goal simple lower uninsured rate even first day open enrollment indication obamacare looks good start advertisement tweeted hhs media department health human services media account 150000 applications submitted first day open enrollment digging acasignupsnet appears 100000 applications submitted first day open enrollment nov 15 2014 calendar year 2015 250000 applications submitted first two days nov 1 2015 nov2 2015 last years open enrollment period years pattern hold first two days roughly 50000 extra applications would submitted compared last year important note applications dont equate qualified health plan enrollments applicants could simply submitting applications see whether qualify advanced premium tax credit aptc costsharing reductions csrs aptc subsidy responsible lowering patients pay monthly premium costsharing reductions lower youll pay copays deductibles coinsurance head doctors office latest cms report referenced notes 84 104 million paying members receiving aptc 56 qualifying csrs application filings could also means consumers browse around respective marketplaces see plans available nonetheless encouraging early sign however strong early showing applications isnt reason yet break champagne obamacare facing handful challenges year could lead major deceleration even decline yearoveryear enrollment image source getty images biggest challenge facing obamacare enrollees 2017 rapidly rising premium inflation 2017 consumers across country facing average individual market premium increase 25 benchmark silver plans secondlowest cost silver plan state reported opens new window usa today using data gathered acasignupsnet oklahoma minnesota tennessee arizona expecting weighted premiums rise 50 enrollment period residents montana west virginia illinois dealing premium inflation 40 49 consumers receiving aptc mostly shielded massive hikes middleclass consumers earning 400 federal poverty level 47520 could struggle absorb inflation magnitude heart years rapid premium inflation two stories first failure risk corridor provide financial foundation insurers risk corridor riskpooling fund took money overly profitable insurers disbursed insurers losing excessive amounts money priced premiums low however eighth funds requested moneylosing insurers disbursed causing threequarters obamacareapproved healthcare cooperatives lowcost healthcare operators close doors effectively eliminated number lowcost health insurance options americans big story three nations five largest national insurers pulling obamacare marketplaces 2017 unitedhealth group nyse unh nations largest insurer exiting 34 state exchanges remain three upcoming year similarly justice department blocked merger attempt aetna nyse aet humana nyse hum announced intentions reduce countybased coverage nearly 70 90 respectively yearoveryear basis three insurers cutting back coverage experiencing steep losses aca plans given declining competition insurers expected pricing power 2017 image source getty images premiums could scare away consumers 2017 insurers another trick sleeves help reduce theyre spending medical care based analysis conducted healthpocket opens new window obamacare deductibles heading considerably higher 2017 deductibles amount outofpocket payments youre responsible insurance coverage kicks healthpockets study forecasts 6 increase average bronze plan deductibles nearly 6100 15 increase silver plan deductibles 3500 big question whether consumers unable afford visits doctor even afford pay healthcare premiums answer may yes lower middleincome individuals families fact average unsubsidized 50year old making 48000 year slightly 400 federal poverty level would spend 14 monthly income purchase average silver plan 2017 percentage doesnt even account average silver plan deductible 3572 need lot medical care could push aggregate annual medical costs 20 earned income image source getty images adding fuel skeptics fire idea young adult enrollment could remain par young adults often healthier older adults meaning premium payments needed insurers help offset costs enrolling older andor sicker adults even though weve witnessed progression young adult enrollment previous three aca enrollment periods total young adult enrollment still expectations ive previously posited opens new window likely fairly large gap shared responsibility payment srp annual cost bronzetier plan srp penalty imposed come tax time consumers didnt purchase health insurance 2014 srp greater 95 1 modified adjusted gross income magi however 2016 itll greater 695 25 magi even substantial increase penalty expected average 969 2016 according kaiser family foundation comparison healthpocket notes average bronze premium 2017 30year old 31117 21 increase 2016 extrapolate course year average 30yearold bronze plan enrollee pay 3700 premiums healthier young adults simply dont head doctor much likely choose penalty 969 3700plus cost srp accurately reflects annual cost bronze tier plan young adult enrollment likely remain relatively low far early determine well poorly obamacare fare 2017 major pricing challenges consumers dealing suggest decline open enrollment isnt question 15834 social security bonus retirees completely overlook youre like americans youre years behind retirement savings handful littleknown social security secrets could help ensure boost retirement income example one easy trick could pay much 15834 year learn maximize social security benefits think could retire confidently peace mind simply click discover learn strategies opens new window sean williams opens new windowhas material interest companies mentioned article follow caps screen name tmfultralong opens new window check twitter goes handle tmfultralong opens new window motley fool recommends unitedhealth group try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window | 881 |
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<p>As one of the most powerful men on <a href="" type="internal">Wall Street</a>, surely <a href="" type="internal">Lloyd Blankfein</a> can’t be brought down by a single op-ed from a mid-level employee, right?</p>
<p>Continue Reading Below</p>
<p>Not so fast. As Goldman Sachs (NYSE:GS) leaps into damage-control mode over the salacious diatribe written by a former vice president at the firm, some are wondering whether the incident could be the final nail in the controversial CEO’s coffin.</p>
<p>“If I was placing bets on it, I would bet that Blankfein is likely to be the D’Antoni of this spring,” said Saul Cohen, a retired Wall Street lawyer, alluding to the ouster of New York Knicks head coach Mike D’Antoni earlier this week.</p>
<p>As the thinking goes, Goldman, the preeminent Wall Street investment bank, has now suffered one too many public-relations black eyes.</p>
<p>Add Muppetgate to the List</p>
<p>Since the financial crisis erupted in 2008, Goldman has been the subject of countless investigations, including a <a href="" type="internal">Securities and Exchange Commission</a> probe that resulted in the company paying a record $550 million.</p>
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<p>That settlement followed the “Fabulous Fab” emails that revealed a high-level Goldman broker knew he was selling his clients mortgage-related securities that were garbage.</p>
<p>Blankfein hurt his own case when he defended compensation practices by telling the Times of London in 2009 he’s just a banker “doing God’s work.” Rolling Stone helped crystallize the anti-Goldman sentiment in a 2010 essay that called the bank a “great vampire squid” that jams “its blood funnel into anything that smells like money.”</p>
<p>The latest salvo was fired by <a href="" type="internal">Greg Smith</a>, who started Muppetgate by unleashing a takedown of Goldman in an op-ed that appeared in The <a href="" type="internal">New York Times</a> this week and garnered widespread attention.</p>
<p>Calling out the firm’s leadership, Smith said Goldman is “toxic and destructive” and said he can “no longer in good conscience…identify with what it stands for.” Smith said he saw at least five instances of managing directors referring to clients as “Muppets.”</p>
<p>“Out of context, it looks terrible, but in context it looks like the same kind of thing you’d hear at every major trading firm,” said Charles D. Ellis, author of The Partnership: The Making of Goldman Sachs.</p>
<p>While Goldman has noted Smith had a mid-level position and others chalk the outburst up to “sour grapes,” it’s extremely rare in the history of Goldman to have a former employee criticize the company in such a public manner.</p>
<p>“I think it adds to Goldman’s tarnished reputation,” said Charles Geisst, a finance professor at Manhattan College.</p>
<p>Not a Popularity Contest</p>
<p>However, Geisst and others believe the story won’t do long-term damage to Goldman’s efforts to recruit and retain clients because it broke little new ground, and Smith admitted he has no evidence of impropriety.</p>
<p>“I accept the fact that most customers do not really like the firm. I accept all that and believe it’s true,” said Dick Bove, a veteran banking analyst at Rochdale Securities. “The question is then: What in hell does this firm have that gets customers to keep dealing with it?”</p>
<p>Bove pointed to two areas of “tremendous competitive advantage” that Goldman enjoys: superior trading technology that gives it the ability to offer clients better prices on a wide spectrum of assets than rivals, and intellectual capital that makes its investment-banking arm unmatched.</p>
<p>These advantages help explain why after years of bad press and a tarnished reputation, Goldman is still recognized as Wall Street’s No. 1 investment bank. According to Dealogic, the firm generated more investment-banking fees than any other last year.</p>
<p>“There have been other complaints about Goldman Sachs going back decades. But the clients don’t go away. The clients keep coming,” said Bove.</p>
<p>Goldman officials weren't available for comment.</p>
<p>Cohen, who served as general counsel at Lehman Brothers in the early 1980s, notes that the individuals and businesses that seek financial advice from Goldman don’t tend to be naïve investors.</p>
<p>Smith “is not talking about widows and orphans. He’s talking about institutional customers. A lot of them are at least as smart and have as much talent and have as good computers as the Goldman people do,” said Cohen.</p>
<p>Blankfein's Future</p>
<p>Bove adds, “Until the clients decide that all of this garbage in the press means something, there’s not going to be an impact on the bottom line.”</p>
<p>Blankfein, 57, became CEO in 2006 after Henry Paulson stepped down to lead the Treasury Department in the Bush administration. Given the tumultuous years during his tenure, the native New Yorker is no stranger to hearing calls for his termination.</p>
<p>While some directors may be tempted to give Blankfein the boot over the latest PR fiasco, doing so may only validate Smith’s criticisms, at least in the public’s eye.</p>
<p>“You just can’t give this guy and his argument credibility by firing Lloyd Blankfein. You’ve got to do the opposite,” said Bove. “I think [Smith] solidified Lloyd Blankfein in his position for another couple of years.”</p>
<p>Ellis seconded that opinion. “As a member of the board of directors I wouldn’t dream of touching it. I would be doing real harm to my firm,” he said.</p>
<p>Can Reputation Be Fixed?</p>
<p>None of this means that Goldman should just accept the reputational harm it has suffered over the past four years. While its competitive advantages and public perception may save Blankfein and prevent the firm from losing clients, it could still be hurt down the line.</p>
<p>“Do I think Goldman Sachs needs to change? Yes. Do they think so? Yes,” said Ellis, pointing to a series of recommended changes to Goldman’s business practices that were released last year.</p>
<p>The very decision by the Times to publish the Smith op-ed underscores the dreadful public perceptions of the firm (and perhaps the Times' agenda).</p>
<p>“I suspect it probably never would have been picked up if it had been any of the other major firms,” said Ellis.</p>
<p>Sources told FOX Business’s Charlie Gasparino that Goldman execs can’t understand how the Times could do this to Goldman because the two companies had an investment-banking relationship.</p>
<p>“I think that’s just a testament to Goldman’s current public relations more than anything else,” said Geisst. “If you see tomorrow in the news Goldman Sachs is taking over The New York Times via some South Korean paper, then we’ll know they were really (angry).”</p> | true | 0 | one powerful men wall street surely lloyd blankfein cant brought single oped midlevel employee right continue reading fast goldman sachs nysegs leaps damagecontrol mode salacious diatribe written former vice president firm wondering whether incident could final nail controversial ceos coffin placing bets would bet blankfein likely dantoni spring said saul cohen retired wall street lawyer alluding ouster new york knicks head coach mike dantoni earlier week thinking goes goldman preeminent wall street investment bank suffered one many publicrelations black eyes add muppetgate list since financial crisis erupted 2008 goldman subject countless investigations including securities exchange commission probe resulted company paying record 550 million advertisement settlement followed fabulous fab emails revealed highlevel goldman broker knew selling clients mortgagerelated securities garbage blankfein hurt case defended compensation practices telling times london 2009 hes banker gods work rolling stone helped crystallize antigoldman sentiment 2010 essay called bank great vampire squid jams blood funnel anything smells like money latest salvo fired greg smith started muppetgate unleashing takedown goldman oped appeared new york times week garnered widespread attention calling firms leadership smith said goldman toxic destructive said longer good conscienceidentify stands smith said saw least five instances managing directors referring clients muppets context looks terrible context looks like kind thing youd hear every major trading firm said charles ellis author partnership making goldman sachs goldman noted smith midlevel position others chalk outburst sour grapes extremely rare history goldman former employee criticize company public manner think adds goldmans tarnished reputation said charles geisst finance professor manhattan college popularity contest however geisst others believe story wont longterm damage goldmans efforts recruit retain clients broke little new ground smith admitted evidence impropriety accept fact customers really like firm accept believe true said dick bove veteran banking analyst rochdale securities question hell firm gets customers keep dealing bove pointed two areas tremendous competitive advantage goldman enjoys superior trading technology gives ability offer clients better prices wide spectrum assets rivals intellectual capital makes investmentbanking arm unmatched advantages help explain years bad press tarnished reputation goldman still recognized wall streets 1 investment bank according dealogic firm generated investmentbanking fees last year complaints goldman sachs going back decades clients dont go away clients keep coming said bove goldman officials werent available comment cohen served general counsel lehman brothers early 1980s notes individuals businesses seek financial advice goldman dont tend naïve investors smith talking widows orphans hes talking institutional customers lot least smart much talent good computers goldman people said cohen blankfeins future bove adds clients decide garbage press means something theres going impact bottom line blankfein 57 became ceo 2006 henry paulson stepped lead treasury department bush administration given tumultuous years tenure native new yorker stranger hearing calls termination directors may tempted give blankfein boot latest pr fiasco may validate smiths criticisms least publics eye cant give guy argument credibility firing lloyd blankfein youve got opposite said bove think smith solidified lloyd blankfein position another couple years ellis seconded opinion member board directors wouldnt dream touching would real harm firm said reputation fixed none means goldman accept reputational harm suffered past four years competitive advantages public perception may save blankfein prevent firm losing clients could still hurt line think goldman sachs needs change yes think yes said ellis pointing series recommended changes goldmans business practices released last year decision times publish smith oped underscores dreadful public perceptions firm perhaps times agenda suspect probably never would picked major firms said ellis sources told fox businesss charlie gasparino goldman execs cant understand times could goldman two companies investmentbanking relationship think thats testament goldmans current public relations anything else said geisst see tomorrow news goldman sachs taking new york times via south korean paper well know really angry | 612 |
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<p>Middle-class Americans believe their ability to make sound financial decisions is "good" or "excellent," yet more than 2 out of 3 admit they've made at least one "really bad financial decision." Nearly half have made more than one.</p>
<p>Continue Reading Below</p>
<p>The typical median cost of these bad financial decisions was $5,000. The average cost? A whopping $23,000.</p>
<p>It's all according to an analysis of a national survey last year of 2,015 adult Americans by ORC International and an examination of the Federal Reserve Board's 2010 Survey of Consumer Finances.</p>
<p>If you've made your own costly financial decisions such as taking on too much mortgage or credit card debt, not saving enough or making a bad investment, at least you're not alone. If it's a recent mistake, know this: You can move forward.</p>
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<p>Assessing the report's findings is difficult because consumers may define "bad decisions" differently, and their definitions may differ from those of experts, says Stephen Brobeck, executive director of the Consumer Federation of America, which released the report with Duluth, Ga.-based Primerica.</p>
<p>In his experience, the most serious bad decisions generally involve allocation of financial resources. While one who carries large debts and refuses to save won't necessarily experience financial difficulty or perceive these as bad financial decisions, "All experts would consider this person living much too close to the edge of a cliff," Brobeck says.</p>
<p>He says a second major category of bad decisions involves specific product purchases, including mortgage loans, credit cards and investments. One example is being seduced by a credit card issuer advertising six months of no interest charges, but then the issuer imposes interest at a rate of 24%.</p>
<p>Reno, Nev.-based money coach Todd Tresidder says the "real hallmark of a financial mistake is when the decision causing it is not driven primarily by financial motivation." It's a lesson Tresidder, founder of the Financial Mentor website, learned personally when he sold a business he had founded simply because he wanted a break from the day-to-day grind.</p>
<p>The business could have become a relatively passive revenue stream for years -- more lucrative in the long run than the initial sales proceeds, he says. "My own mistake was driven by a lifestyle change. I really didn't think creatively about the financial implications of it," Tresidder says.</p>
<p>Other clues that a financial decision may have been a mistake: losing sleep, being consumed with negative thoughts/self-doubt, hiding the decision from family or friends, feeling stressed, and beginning to look for a quick fix, says Bill Losey, a Wilton, N.Y.-based CFP professional.</p>
<p>While a costly financial mistake will leave you feeling low, there's no reason to dwell on it. Doing so will only prevent you from a recovery. The decision can't be reversed, but current and future behavior can be changed, Losey says.</p>
<p>"Focus on what you can control. Your net worth does not determine your self-worth. Treat the bad decision as a learning experience and as an opportunity to help others avoid making the same ones," Losey says.</p>
<p>Laura Stover, president of a Bryan, Ohio-based financial and retirement planning firm, says the financial flub can be part of the learning process.</p>
<p>"Much success can come from past failures," she says. "The journey of a thousand miles begins with the first step -- education." To her, that means seeking professional guidance and empowerment through knowledge.</p>
<p>Some people still will need the ongoing support, advice and coaching that a fee-based or fee-only financial adviser can provide in helping avoid future mistakes, Losey says.</p>
<p>"When it comes to making mistakes or taking risks, it's what we don't know, or what questions we don't ask, that could be costing us severely," says Brad Zucker, president of Las Vegas-based Safe Money Advisors Inc.</p>
<p>"Historically, we may have purchased investment and financial products first and then discovered how they affected our income and tax planning later," Zucker says. "The correct course of action is to discover your true needs and desires, and build the proper plan first, just like you would if you were building a house."</p>
<p>That means learning the right questions to ask, digging deep, and getting all the critical facts before making any purchase or taking other action.</p>
<p>Brobeck says the key to minimizing the chances of making bad money decisions is to think hard about how you spend, borrow and save, and to recognize that if you're not saving at least 10% of your paycheck, you're placing yourself at risk.</p>
<p>Careful consideration is also protection against product purchase mistakes. Brobeck advises deciding specifically what type of product makes the most sense for the situation, such as a savings account rather than a stock mutual fund for your rainy-day fund.</p>
<p>Tresidder reminds that it's most important to focus on the finances when making money decisions as opposed to focusing on lifestyle or relationships. Yet, he says, you still should acknowledge that decisions affect many areas of our lives.</p>
<p>Just don't go too far in avoiding mistakes. "After making bad financial decisions, I've seen people become overly cautious and avoid risk," Losey says. In the other extreme, he has seen people take excessive risk to make up for mistakes -- also not a good idea.</p>
<p>"There are many potential risks," Stover says. "One needs to find balance and define the goal of their money to achieve the proper safe-to-risk ratio."</p>
<p>Copyright 2013, Bankrate Inc.</p> | true | 0 | middleclass americans believe ability make sound financial decisions good excellent yet 2 3 admit theyve made least one really bad financial decision nearly half made one continue reading typical median cost bad financial decisions 5000 average cost whopping 23000 according analysis national survey last year 2015 adult americans orc international examination federal reserve boards 2010 survey consumer finances youve made costly financial decisions taking much mortgage credit card debt saving enough making bad investment least youre alone recent mistake know move forward advertisement assessing reports findings difficult consumers may define bad decisions differently definitions may differ experts says stephen brobeck executive director consumer federation america released report duluth gabased primerica experience serious bad decisions generally involve allocation financial resources one carries large debts refuses save wont necessarily experience financial difficulty perceive bad financial decisions experts would consider person living much close edge cliff brobeck says says second major category bad decisions involves specific product purchases including mortgage loans credit cards investments one example seduced credit card issuer advertising six months interest charges issuer imposes interest rate 24 reno nevbased money coach todd tresidder says real hallmark financial mistake decision causing driven primarily financial motivation lesson tresidder founder financial mentor website learned personally sold business founded simply wanted break daytoday grind business could become relatively passive revenue stream years lucrative long run initial sales proceeds says mistake driven lifestyle change really didnt think creatively financial implications tresidder says clues financial decision may mistake losing sleep consumed negative thoughtsselfdoubt hiding decision family friends feeling stressed beginning look quick fix says bill losey wilton nybased cfp professional costly financial mistake leave feeling low theres reason dwell prevent recovery decision cant reversed current future behavior changed losey says focus control net worth determine selfworth treat bad decision learning experience opportunity help others avoid making ones losey says laura stover president bryan ohiobased financial retirement planning firm says financial flub part learning process much success come past failures says journey thousand miles begins first step education means seeking professional guidance empowerment knowledge people still need ongoing support advice coaching feebased feeonly financial adviser provide helping avoid future mistakes losey says comes making mistakes taking risks dont know questions dont ask could costing us severely says brad zucker president las vegasbased safe money advisors inc historically may purchased investment financial products first discovered affected income tax planning later zucker says correct course action discover true needs desires build proper plan first like would building house means learning right questions ask digging deep getting critical facts making purchase taking action brobeck says key minimizing chances making bad money decisions think hard spend borrow save recognize youre saving least 10 paycheck youre placing risk careful consideration also protection product purchase mistakes brobeck advises deciding specifically type product makes sense situation savings account rather stock mutual fund rainyday fund tresidder reminds important focus finances making money decisions opposed focusing lifestyle relationships yet says still acknowledge decisions affect many areas lives dont go far avoiding mistakes making bad financial decisions ive seen people become overly cautious avoid risk losey says extreme seen people take excessive risk make mistakes also good idea many potential risks stover says one needs find balance define goal money achieve proper safetorisk ratio copyright 2013 bankrate inc | 541 |
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<p>The two-week-long shutdown of the federal government has left many market participants craving the official government statistics that sway investment decisions.</p>
<p>Continue Reading Below</p>
<p>By sifting through confidential data from its more than 200 portfolio companies, The Carlyle Group (NYSE:CG) is attempting to step up to fill that void.</p>
<p>Late last week, the private-equity firm <a href="http://www.carlyle.com/news-room/news-release-archive/carlyle-group-releases-proprietary-us-economic-indicators-derived" type="external">released several proprietary U.S. economic indicators that seek to mimic the missing government data Opens a New Window.</a> by measuring everything from lumber demand to the production of appliances like washing machines.</p>
<p>The move demonstrates how the private sector is coping with the lack of government data and highlights the significant visibility advantage that Carlyle and other sophisticated investors have.</p>
<p>Frustrations Over Lack of Data</p>
<p>The lack of official government data is like “flying (only) with your instruments,” said Jason Thomas, director of research at Carlyle who served as a White House economic adviser from 2006 to 2008. “It’s very frustrating. It adds insult to injury.”</p>
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<p>Carlyle unveiled its proprietary U.S. economic indicators last Friday to serve as a proxy for the government’s reports on retail sales, consumer prices, new residential construction, durable goods orders and gross domestic product.</p>
<p>The decision to release the economic indicators, which Carlyle has been developing for the past several years, was “entirely attributable” to the government shutdown, Thomas said.</p>
<p>In addition to these major economic reports, the government shutdown and resulting furlough of employees has deprived commodities traders of <a href="" type="internal">closely-watched crop reports</a> and <a href="" type="internal">weekly oil statistics.&#160;</a></p>
<p>Carlyle owns more than 200 companies in a <a href="http://www.carlyle.com/our-business/portfolio-of-investments" type="external">number of diverse industries like aerospace, financial services, health care and transportation. Opens a New Window.</a> Notable alumni companies include Dunkin’ Donuts parent Dunkin’ Brands (NASDAQ:DNKN) and car-rental company Hertz (NYSE:HTZ).</p>
<p>“Everybody is looking for additional sources of insight on the economy with the government shutdown. (Carlyle’s) point of view is valuable given the access they have to their portfolio of companies,” said Russell Price, senior economist at Ameriprise Financial (NYSE:AMP).</p>
<p>Lumber Demand Hints at Housing Strength</p>
<p>So how does it work?</p>
<p>By using appliance production data derived from a U.S.-based company owned by Carlyle, the firm estimates that if the government had been open on October 11, the Commerce Department would have said September retail sales inched up 0.25%.</p>
<p>Thomas declined to specify which company was used. The firm said its measure has been 77.5% correlated with the official government retail sales data.</p>
<p>Carlyle’s 0.25% estimate isn’t far from the 0.0% figure economists had already been projecting.</p>
<p>“We try to look through the orders, shipments, occupancy rates and inventories and try to identify which of those series have the most statistically significant and durable correlation to government data,” said Thomas. “Hopefully they accurately capture what’s ultimately released.”</p>
<p>Carlyle used data from a portfolio company on demand for lumber used in housing construction to estimate housing starts are running at an annual clip of 913,000 units, compared with 891,000 previously.</p>
<p>Car Rentals Foreshadow Retail Sales</p>
<p>Investors likely won’t get their hands on the government’s official report on September new residential construction, which had been scheduled for release on Thursday. But Carlyle said its metric is 94% correlated with the official government figures. It also matches consensus calls from economists for construction activity to expand to 913,000 units.</p>
<p>It’s possible the government shutdown will be resolved in time for the Commerce Department to release its estimate on September durable goods orders on October 25.</p>
<p>By scrutinizing telecommunications orders received by a Carlyle-owned company, the firm believes these orders for big-ticket items jumped 6.6% year-over-year last month to $68.6 billion. This metric is 80.8% correlated with the government’s report, Carlyle said.</p>
<p>All of this underscores how savvy private-equity firms can use the plethora of statistics available to them to draw conclusions ordinary investors may not be able to reach by themselves.</p>
<p>While Carlyle wouldn’t talk about which current portfolio companies were used in its analysis, it did say that Hertz served as a key source of data in the past.</p>
<p>Thomas said the number of Hertz car rentals for leisure purposes was 85% correlated with retail sales. Earlier this year, Carlyle fully exited its investment Hertz, which was acquired by a group of private-equity firms in December 2005 for $5.6 billion.</p>
<p>Overseas Value</p>
<p>Private-sector data have a mixed track record in terms of being able to predict official government statistics.</p>
<p>Payroll firm ADP releases its monthly employment report two days ahead of the government’s closely-watched jobs report, which was scrapped earlier this month due to the shutdown.</p>
<p>ADP has “vast exposure to payrolls across the United States,” Price said, but “even their report is close to the market but never quite spot on on a consistent basis.”</p>
<p>Roughly half of Carlyle’s 200 portfolio companies are based outside the U.S., sometimes in countries with unreliable official government statistics. Thomas said the firm uses indicators similar to the U.S. ones as a way to help make investing decisions in those countries.</p>
<p>“Our data may serve as a better barometer of underlying economic conditions than official data in some situations,” he said.</p> | true | 0 | twoweeklong shutdown federal government left many market participants craving official government statistics sway investment decisions continue reading sifting confidential data 200 portfolio companies carlyle group nysecg attempting step fill void late last week privateequity firm released several proprietary us economic indicators seek mimic missing government data opens new window measuring everything lumber demand production appliances like washing machines move demonstrates private sector coping lack government data highlights significant visibility advantage carlyle sophisticated investors frustrations lack data lack official government data like flying instruments said jason thomas director research carlyle served white house economic adviser 2006 2008 frustrating adds insult injury advertisement carlyle unveiled proprietary us economic indicators last friday serve proxy governments reports retail sales consumer prices new residential construction durable goods orders gross domestic product decision release economic indicators carlyle developing past several years entirely attributable government shutdown thomas said addition major economic reports government shutdown resulting furlough employees deprived commodities traders closelywatched crop reports weekly oil statistics160 carlyle owns 200 companies number diverse industries like aerospace financial services health care transportation opens new window notable alumni companies include dunkin donuts parent dunkin brands nasdaqdnkn carrental company hertz nysehtz everybody looking additional sources insight economy government shutdown carlyles point view valuable given access portfolio companies said russell price senior economist ameriprise financial nyseamp lumber demand hints housing strength work using appliance production data derived usbased company owned carlyle firm estimates government open october 11 commerce department would said september retail sales inched 025 thomas declined specify company used firm said measure 775 correlated official government retail sales data carlyles 025 estimate isnt far 00 figure economists already projecting try look orders shipments occupancy rates inventories try identify series statistically significant durable correlation government data said thomas hopefully accurately capture whats ultimately released carlyle used data portfolio company demand lumber used housing construction estimate housing starts running annual clip 913000 units compared 891000 previously car rentals foreshadow retail sales investors likely wont get hands governments official report september new residential construction scheduled release thursday carlyle said metric 94 correlated official government figures also matches consensus calls economists construction activity expand 913000 units possible government shutdown resolved time commerce department release estimate september durable goods orders october 25 scrutinizing telecommunications orders received carlyleowned company firm believes orders bigticket items jumped 66 yearoveryear last month 686 billion metric 808 correlated governments report carlyle said underscores savvy privateequity firms use plethora statistics available draw conclusions ordinary investors may able reach carlyle wouldnt talk current portfolio companies used analysis say hertz served key source data past thomas said number hertz car rentals leisure purposes 85 correlated retail sales earlier year carlyle fully exited investment hertz acquired group privateequity firms december 2005 56 billion overseas value privatesector data mixed track record terms able predict official government statistics payroll firm adp releases monthly employment report two days ahead governments closelywatched jobs report scrapped earlier month due shutdown adp vast exposure payrolls across united states price said even report close market never quite spot consistent basis roughly half carlyles 200 portfolio companies based outside us sometimes countries unreliable official government statistics thomas said firm uses indicators similar us ones way help make investing decisions countries data may serve better barometer underlying economic conditions official data situations said | 540 |
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<p>Image source: Umberto Salvagnin via <a href="https://www.flickr.com/photos/kaibara/7779624142/" type="external">Flickr Opens a New Window.</a>.</p>
<p>Continue Reading Below</p>
<p>The term "game changer" is carelessly slapped onto just about every cool new technology today -- often before concepts ever leave the lab for the market. That dilutes the appreciation of truly transformative technologies, such as Bacillus thuringiensis (Bt)traits for corn and cotton varieties sold by Monsanto and Syngenta , which really have been a game changer for global agriculture. The traits allow crops to create a naturally occurring insecticide within their leaves that kills any insects daring enough to take a bite. Therefore, Bt traits allow farmers in certain regions to skip insecticide spraying entirely. The average acre of American corn used 0.21 pounds of insecticides in 1995, but only 0.02 pounds in 2010. In fact, only 9% of corn acres in the United States had any insecticides sprayed on them in 2010.</p>
<p>Unfortunately, the positive downward trends in insecticide use may be headed for a sharp reversal. The success of Bt traits has created selective pressures for insects that can tolerate Bt, resulting in increasing populations of insecticide-resistant agricultural pests. Solutions offered by Monsanto and Syngenta have been inadequate to date, although the problem has been compounded by farmers improperly using Bt products. One potential solution from Intrexon could serve as a win-win-win for farmers, the food system, and the environment -- but it's still years away from reaching the market.</p>
<p>The possible emergence of insecticide-resistant insects was predicted not long after Bt crops hit the market. The industry's solution was simple: Farmers utilizing Bt crops were required to plant a block refuge, or up to 20% of their fields with crops that did not contain Bt traits. Refuge crops sacrificed yield, sure, but they also ensured that a sufficient population of insects would not develop resistance to Bt. These pests would mate with insects that harbored genes allowing Bt-resistance, thus diluting the gene pool to maintain the effectiveness of Bt crops.</p>
<p>Advertisement</p>
<p>Unsurprisingly, farmers don't want to sacrifice yield on 20% of their acres, and consider refuge plots an additional burden. Many farmers skip planting a refuge altogether, which results in the proliferation of Bt-resistant insects.</p>
<p>Monsanto and Syngenta acknowledged the problem in complying with refuge plot requirements by offering refuge-in-a-bag products, or RIB, that contain mixtures of non-Bt and Bt seeds. Instead of cordoning off a block refuge plot, farmers use RIB seeds across all acres, which results in a refuge planted randomly throughout the entire field -- offering compliance and ease-of-use in one simple solution.</p>
<p>But many RIB products result in refuge coverage of between 5% and 10% -- well below the 20% requirement for block refuges. Refuges of that size are hardly effective. Researchers <a href="https://www.dtnpf.com/agriculture/web/ag/news/crops/article/2016/06/02/refuge-bag-corn-may-speed-bt-2" type="external">recently found Opens a New Window.</a> that, after pollination, only 38% of corn kernels in a 5% refuge plot were free of Bt traits. In other words, the RIB product resulted in refuge coverage of just 2%. More worrisome, the study found that the way in which non-Bt plants gained Bt traits may actually work to expedite resistance in insects.</p>
<p>Unless the U.S. Department of Agriculture forces Monsanto and Syngenta to offer RIB products with 20% (or greater) refuge coverage, we risk losing an important agricultural tool. Can Intrexon and its subsidiary Oxitecbail out the industry?</p>
<p>Intrexon investors should be tracking <a href="http://www.fool.com/investing/2016/07/01/does-this-intrexon-opportunity-dwarf-zika-virus.aspx?source=eptfxblnk0000004" type="external">the opportunity in agriculture Opens a New Window.</a> for Oxitec's self-limiting insectplatform, whichI recently <a href="http://www.fool.com/investing/2016/06/28/intrexon-and-zika-virus-an-interview-with-oxitecs.aspx?source=eptfxblnk0000004" type="external">summarized Opens a New Window.</a>as follows:</p>
<p>While there are various applications, from specialty foods to livestock protection, the proliferation of Bt-resistant insects is perhaps the easiest to understand.</p>
<p>The potential advantages over existing tools are intriguing. It wouldn't be wise to get rid of refuge requirements altogether (we don't want to create resistant insects that can only be controlled with one tool), but self-limiting insects could be used in combination with Bt crops to further protect yields and extend the useful life of current traits. They could also be used instead of Bt crops or in crops that do not contain Bt traits, which opens up insecticide-free, higher-yield farming practices to organic and conventional farmers alike.</p>
<p>There are potential downfalls to Intrexon and Oxitec's self-limiting insects, too. While the platform has supporting data in controlling mosquito populations, agricultural pests have different life cycles. That may leave fewer windows to release self-limiting insects, which makes timing imperative. The platform may also be ineffective for below-ground agricultural pests, which would require other tools such as Bt crops.</p>
<p>It's important to remember that products in Intrexon'sportfolio are in the early stages of development and still need to be vetted by the U.S. Department of Agriculture for efficacy and safety. If commercialized, the products would also need to offer attractive price points and ease-of-use for farmers. The last point is easy to overlook, but will be a determining factor in the success of the platform. After all, releasing self-limiting insects over large commercial farms may not be as easy as deploying RIB products, so the value created must be extraordinary, and deploying insects should be as small a burden as possible.</p>
<p>Bt crops have allowed farmers to greatly reduce or eliminate their use of insecticides while protecting yields from insect pests. However, the emergence of Bt-resistant insects combined with ineffective RIB products poses a significant threat to the value created by Bt traits. As Monsanto and Syngenta stick to their guns in maintaining refuge coverage of 5% or 10% from RIB products, it may create an opportunity for Intrexon and Oxitec to position self-limiting insects as a next-generation tool for protecting yields for various crops. The first products are still years away from hitting the market, but investors shouldn't sleep on the growth potential.</p>
<p>The article <a href="http://www.fool.com/investing/2016/07/13/this-farming-tool-is-failing-can-intrexon-bail-out.aspx" type="external">This Farming Tool Is Failing. Can Intrexon Bail Out an Industry? Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFBlacknGold/info.aspx?source=eptfxblnk0000004" type="external">Maxx Chatsko Opens a New Window.</a> has no position in any stocks mentioned. <a href="https://twitter.com/MaxxChatsko" type="external">Follow him on Twitter Opens a New Window.</a>to keep up with developments in the engineered biology field.The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source umberto salvagnin via flickr opens new window continue reading term game changer carelessly slapped onto every cool new technology today often concepts ever leave lab market dilutes appreciation truly transformative technologies bacillus thuringiensis bttraits corn cotton varieties sold monsanto syngenta really game changer global agriculture traits allow crops create naturally occurring insecticide within leaves kills insects daring enough take bite therefore bt traits allow farmers certain regions skip insecticide spraying entirely average acre american corn used 021 pounds insecticides 1995 002 pounds 2010 fact 9 corn acres united states insecticides sprayed 2010 unfortunately positive downward trends insecticide use may headed sharp reversal success bt traits created selective pressures insects tolerate bt resulting increasing populations insecticideresistant agricultural pests solutions offered monsanto syngenta inadequate date although problem compounded farmers improperly using bt products one potential solution intrexon could serve winwinwin farmers food system environment still years away reaching market possible emergence insecticideresistant insects predicted long bt crops hit market industrys solution simple farmers utilizing bt crops required plant block refuge 20 fields crops contain bt traits refuge crops sacrificed yield sure also ensured sufficient population insects would develop resistance bt pests would mate insects harbored genes allowing btresistance thus diluting gene pool maintain effectiveness bt crops advertisement unsurprisingly farmers dont want sacrifice yield 20 acres consider refuge plots additional burden many farmers skip planting refuge altogether results proliferation btresistant insects monsanto syngenta acknowledged problem complying refuge plot requirements offering refugeinabag products rib contain mixtures nonbt bt seeds instead cordoning block refuge plot farmers use rib seeds across acres results refuge planted randomly throughout entire field offering compliance easeofuse one simple solution many rib products result refuge coverage 5 10 well 20 requirement block refuges refuges size hardly effective researchers recently found opens new window pollination 38 corn kernels 5 refuge plot free bt traits words rib product resulted refuge coverage 2 worrisome study found way nonbt plants gained bt traits may actually work expedite resistance insects unless us department agriculture forces monsanto syngenta offer rib products 20 greater refuge coverage risk losing important agricultural tool intrexon subsidiary oxitecbail industry intrexon investors tracking opportunity agriculture opens new window oxitecs selflimiting insectplatform whichi recently summarized opens new windowas follows various applications specialty foods livestock protection proliferation btresistant insects perhaps easiest understand potential advantages existing tools intriguing wouldnt wise get rid refuge requirements altogether dont want create resistant insects controlled one tool selflimiting insects could used combination bt crops protect yields extend useful life current traits could also used instead bt crops crops contain bt traits opens insecticidefree higheryield farming practices organic conventional farmers alike potential downfalls intrexon oxitecs selflimiting insects platform supporting data controlling mosquito populations agricultural pests different life cycles may leave fewer windows release selflimiting insects makes timing imperative platform may also ineffective belowground agricultural pests would require tools bt crops important remember products intrexonsportfolio early stages development still need vetted us department agriculture efficacy safety commercialized products would also need offer attractive price points easeofuse farmers last point easy overlook determining factor success platform releasing selflimiting insects large commercial farms may easy deploying rib products value created must extraordinary deploying insects small burden possible bt crops allowed farmers greatly reduce eliminate use insecticides protecting yields insect pests however emergence btresistant insects combined ineffective rib products poses significant threat value created bt traits monsanto syngenta stick guns maintaining refuge coverage 5 10 rib products may create opportunity intrexon oxitec position selflimiting insects nextgeneration tool protecting yields various crops first products still years away hitting market investors shouldnt sleep growth potential article farming tool failing intrexon bail industry opens new window originally appeared foolcom maxx chatsko opens new window position stocks mentioned follow twitter opens new windowto keep developments engineered biology fieldthe motley fool position stocks mentioned try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 674 |
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<p>RUSH: Here’s Neil, San Diego, California.&#160; Great to have you with us, Neil.&#160; Hi.&#160;</p>
<p>CALLER:&#160; Hi, Rush.&#160; Thank you for taking my call.&#160; Say, Rush, I’m calling because of the discussion you had about the immigration challenges in terms of the Supreme Court decision over Barack Obama’s attempt “to mandate some illegal activity” is how I would characterize it.&#160; And I’ve got a suggestion, and that is to borrow from something you shared with your audience.&#160; That is to say that what we might want to consider doing is just putting a stop to all forms of immigration into this country.&#160;&#160;</p>
<p>I’m calling from California.&#160; California, by what you have observed, has been culturally changed by way of illegal immigration.&#160; In California now, it’s permanently lost to the Democrat Party because of the change of demographics and thus the change of party registration.&#160; Legal immigration, in terms of the needs of our country, is a canard that is foisted upon the American people.&#160; We were able to put a man on the moon with a population significantly smaller than what we have now.&#160;&#160;</p>
<p>We can educate our own folk.&#160; We don’t need to import folk from other parts of the world in order to accomplish, you know, our desired ends in terms of manufacturing and technology and what have you. &#160;And while listening to your broadcast, there was that other matter of the gun control thing in which a congressman talked about radical Islam.&#160; And, Rush, I would be negligent if I didn’t share with you a suggestion, and that is that I would encourage you to get a book called “What Every American Needs to Know about the Qur’an: A History of Islam &amp; the United States.”&#160;</p>
<p>RUSH:&#160; Well, we ha… I gotta take a break.&#160; Yeah.</p>
<p>BREAK TRANSCRIPT</p>
<p />
<p>I didn’t have time to answer the last guy.&#160; Neil was his name.&#160; His basic point was: Hey, Rush, I heard you say there wasn’t any immigration between 1924, ’65, why don’t we do it again?&#160; It’s roiling the country.&#160; We don’t it need right now.&#160; We put a man on the moon with fewer people than we have in the country.&#160;&#160;</p>
<p>Again, to review, why did we do it in 1924?&#160; It’s a different country, folks, and understandably so.&#160; I mean, change is inexorable.&#160; Change, you can’t stop it, so things are gonna evolve and modernize.&#160; Some are gonna be stagnant.&#160; But change happens.&#160; In 1924 we had had mass immigration after two wars, and World War I and the eastern European immigration was massive through Ellis Island and other places.&#160; And the reason we shut it down in 1924 was so many immigrants arrived that we stopped to assimilate them.&#160;&#160;</p>
<p>There was an active assimilation, call it a program or not, it just happened.&#160; It was understood by everybody that newly arrived immigrants had to learn about the place they had come.&#160; They wanted to come.&#160; They dreamed of coming here.&#160; They had great expectations.&#160; They were fleeing human conditions that we didn’t face, in large part.&#160; Suffering born of poverty, of tyranny, of bondage.&#160;&#160;</p>
<p>The story of humanity for most of the human existence is not a pretty one.&#160; And look, I don’t want to be redundant, but that’s what genuine American exceptionalism means, country comes along, founded on the basis of freedom and liberty and God-given rights, life, liberty, pursuit of happiness.&#160; It had never been done before, so that was the exception.&#160;&#160;</p>
<p>So why can’t we do it again today?&#160; Well, the political will is not there.&#160; There is no assimilation that goes on right now anyway, as we live and breathe today.&#160; In fact, from the Democrat Party and progressives, America today is nothing to be admired.&#160; America today is nothing to aspire to.&#160; America today is something that better damn well be transformed.&#160; America today is guilty.&#160; America today is racism, sexism, bigotry, all of these isms, and it’s unjust and it’s unfair and it’s been immoral and it’s stolen things from people and it’s robbed people and it’s killed people, and there’s nothing worth emulating about America today.&#160;&#160;</p>
<p>No, America must change.&#160; America must be brought to its knees.&#160; America must find out what the rest of the world has had to endure, largely because of America.&#160; America stole things from this land and that land and that people and this people.&#160; And it’s time we paid the price.&#160;&#160;</p>
<p>So the idea that there’s something to assimilate to here is not incumbent with today’s immigration.&#160; The purpose of today’s immigration is to change America, as far as the Democrats concerned.&#160; This is not an exaggeration, and it’s not also the Democrat Party as you’ve known it most of your life.&#160; This attitude, it’s always been there, liberalism, progressive, always been there, but it’s totally captivated the Democrat Party now.&#160; This is not the Democrat Party of even 15 years ago or 20, much less 30 or 40.&#160;&#160;</p>
<p>The Democrat Party’s entirely progressive, and the purpose of immigration is to further along the transformation of America.&#160; You might even call it the punishment of America.&#160; Because many educated progressives today think this country needs to be taught a lesson or two, and especially certain people in this country need to be caught a lesson.&#160; They need to cut down to size.&#160; They need to find out the kind of crap they’ve put people through for 200-plus years.&#160;&#160;</p>
<p>The second thing is the reason there’s no desire for assimilation — well, beyond that is that there’s no desire to stop immigration on either party.&#160; The Republicans have donors who want low skilled and ill-educated people.&#160; They’ll work cheap.&#160; So this is the Chamber of Commerce position.&#160; So the short answer, there’s no inertia, there’s no mind-set for a temporary stoppage on immigration so that we can get a handle on who’s coming in, how they’ve got here, where they are, and finding them and assimilating them.&#160;&#160;</p>
<p>You know what?&#160; If we were to do that, you know, we hear about these 11 million or whatever number they are, living in the shadows, I will bet you — this is a wild guess — but I will bet you could get a decent amount of support from a group of conservative Republican Americans today opposed to illegal immigration, I’ll bet you could convert that to support if there became as part and parcel of the comprehensive immigration reform, a serious effort to assimilate these people. And not assimilate them to the Democrat Party, but assimilate them to America.&#160;&#160;</p>
<p>If there were a focus on American greatness and American exceptionalism and bringing 11 or 12 million people who have been here illegally for a long time out of the shadows and actually assimilating them into a great America, you’d probably have more support for something like that than you might think.&#160; You’d be surprised, I think, the number of people that would support bringing ’em out of the shadows. But as long as the whole purpose here is to register voters for the Democrat Party or to keep them on welfare programs or whatever cost Americans and put more budget strain, you’re never gonna have support for it.&#160; And everybody knows that’s what the Democrat Party agenda is.&#160;&#160;</p>
<p>That’s what comprehensive immigration reform is, and cheap labor on the Republican side.&#160; And most Americans look at it and don’t see the benefit.&#160; They don’t see the benefit to the country, they don’t see the benefit to them, and they don’t see the benefit for the illegal immigrants, who are not gonna be educated, they’re not gonna be fairly compensated; they’re gonna continue to be dependent and in need.&#160;&#160;</p>
<p>So they look at this, they don’t see any compassion anywhere.&#160; Yet while the Democrats get all the credit in the world for being compassionate, there isn’t any.&#160; These are just a bunch of people, poor people that are gonna end up being used as political footballs to further enrich and empower the Democrat Party.&#160; But if comprehensive immigration reform actually included making these people Americans, teaching them about America, teaching them English, inspiring them to want to become part of a distinct American culture, you’d have, maybe — I don’t know — a shift of support.&#160;&#160;</p>
<p>But even if you did that, you would have some people not trust it, who would think that that was a trick, too, simply because of the nature of the Democrat Party today.&#160; And you couldn’t blame them.&#160; All you gotta do is watch Barack Obama and the Democrats and it’s very clear what their objective is.&#160; They want to water this country down. They want to water down whatever the majorities have been. They want to water down the greatness.&#160;&#160;</p>
<p>They want to dilute every aspect of this country that made it great.&#160; There’s no other way to describe their agenda because at the end of it all they want to be in power, because that equals control of the money.&#160; It’s always about money, folks.&#160; The Democrats will tell you it’s about compassion, it’s about big hearts, it’s about love and all that.&#160; It’s about money.&#160; It’s always about money.&#160; They just will be the ones who never admit it. &#160;</p> | true | 0 | rush heres neil san diego california160 great us neil160 hi160 caller160 hi rush160 thank taking call160 say rush im calling discussion immigration challenges terms supreme court decision barack obamas attempt mandate illegal activity would characterize it160 ive got suggestion borrow something shared audience160 say might want consider putting stop forms immigration country160160 im calling california160 california observed culturally changed way illegal immigration160 california permanently lost democrat party change demographics thus change party registration160 legal immigration terms needs country canard foisted upon american people160 able put man moon population significantly smaller now160160 educate folk160 dont need import folk parts world order accomplish know desired ends terms manufacturing technology 160and listening broadcast matter gun control thing congressman talked radical islam160 rush would negligent didnt share suggestion would encourage get book called every american needs know quran history islam amp united states160 rush160 well ha got ta take break160 yeah break transcript didnt time answer last guy160 neil name160 basic point hey rush heard say wasnt immigration 1924 65 dont again160 roiling country160 dont need right now160 put man moon fewer people country160160 review 1924160 different country folks understandably so160 mean change inexorable160 change cant stop things gon na evolve modernize160 gon na stagnant160 change happens160 1924 mass immigration two wars world war eastern european immigration massive ellis island places160 reason shut 1924 many immigrants arrived stopped assimilate them160160 active assimilation call program happened160 understood everybody newly arrived immigrants learn place come160 wanted come160 dreamed coming here160 great expectations160 fleeing human conditions didnt face large part160 suffering born poverty tyranny bondage160160 story humanity human existence pretty one160 look dont want redundant thats genuine american exceptionalism means country comes along founded basis freedom liberty godgiven rights life liberty pursuit happiness160 never done exception160160 cant today160 well political there160 assimilation goes right anyway live breathe today160 fact democrat party progressives america today nothing admired160 america today nothing aspire to160 america today something better damn well transformed160 america today guilty160 america today racism sexism bigotry isms unjust unfair immoral stolen things people robbed people killed people theres nothing worth emulating america today160160 america must change160 america must brought knees160 america must find rest world endure largely america160 america stole things land land people people160 time paid price160160 idea theres something assimilate incumbent todays immigration160 purpose todays immigration change america far democrats concerned160 exaggeration also democrat party youve known life160 attitude always liberalism progressive always totally captivated democrat party now160 democrat party even 15 years ago 20 much less 30 40160160 democrat partys entirely progressive purpose immigration along transformation america160 might even call punishment america160 many educated progressives today think country needs taught lesson two especially certain people country need caught lesson160 need cut size160 need find kind crap theyve put people 200plus years160160 second thing reason theres desire assimilation well beyond theres desire stop immigration either party160 republicans donors want low skilled illeducated people160 theyll work cheap160 chamber commerce position160 short answer theres inertia theres mindset temporary stoppage immigration get handle whos coming theyve got finding assimilating them160160 know what160 know hear 11 million whatever number living shadows bet wild guess bet could get decent amount support group conservative republican americans today opposed illegal immigration ill bet could convert support became part parcel comprehensive immigration reform serious effort assimilate people assimilate democrat party assimilate america160160 focus american greatness american exceptionalism bringing 11 12 million people illegally long time shadows actually assimilating great america youd probably support something like might think160 youd surprised think number people would support bringing em shadows long whole purpose register voters democrat party keep welfare programs whatever cost americans put budget strain youre never gon na support it160 everybody knows thats democrat party agenda is160160 thats comprehensive immigration reform cheap labor republican side160 americans look dont see benefit160 dont see benefit country dont see benefit dont see benefit illegal immigrants gon na educated theyre gon na fairly compensated theyre gon na continue dependent need160160 look dont see compassion anywhere160 yet democrats get credit world compassionate isnt any160 bunch people poor people gon na end used political footballs enrich empower democrat party160 comprehensive immigration reform actually included making people americans teaching america teaching english inspiring want become part distinct american culture youd maybe dont know shift support160160 even would people trust would think trick simply nature democrat party today160 couldnt blame them160 got ta watch barack obama democrats clear objective is160 want water country want water whatever majorities want water greatness160160 want dilute every aspect country made great160 theres way describe agenda end want power equals control money160 always money folks160 democrats tell compassion big hearts love that160 money160 always money160 ones never admit 160 | 772 |
<p>Before he hopped on Air Force One to head down to Mar-a-Lago for Christmas break, President Trump kept a major legislative promise: he signed into law the most wide-reaching tax reform bill in decades — one that analysts say will cut about $1.5 trillion in taxes and give about 80% of taxpayers a break. Trump hasn’t had many clear victories, but he and the GOP went out on a high note. Year one has been marked by controversy, conspiracy theories, violent protests, “witch hunt” investigations, epic showdowns between the White House and the “Fake News Media,” scandals both real and imagined, and <a href="" type="internal">failed calls for impeachment</a>. With the final days of Trump’s roller coaster first year coming to a close, how are Americans feeling about the 45th President of the United States? Below is the most recent polling data, beginning with Trump's overall approval numbers, followed by public perception of his handling of the economy and foreign policy, the direction of the country, and finally Congress.</p>
<p>TRUMP JOB APPROVAL</p>
<p>As of December 23, <a href="http://www.realclearpolitics.com/epolls/other/president_trump_job_approval-6179.html" type="external">Real Clear Politics' average</a> of the key national polls calculates Trump's overall job approval at -17.6 points: 38.8% approving, 56.4% disapproving — about a 2-point improvement from early December and a few points worse than his average since May. His best approval rating of the six most recent surveys is 44% (Rasmussen: 44 - 54) and his worst is 35% (Reuters/Ipsos: 35 - 60).</p>
<p><a href="http://www.rasmussenreports.com/public_content/politics/trump_administration/prez_track_may2" type="external">Rasmussen</a> — which surveys only likely voters and thus has been one of the more reliable pollsters — has frequently given Trump more favorable numbers than most other polls, and that proves true again this week. Trump finally broke even in the poll mid-April, at 50 - 50, but slid to the low 40s and even to the high-30s in July. On December 21, the tracking survey shows him at -10 points (44 - 54), 4% better than early December. The survey continues to find that far more people "strongly" disapprove than approve of his handling of the presidency. Rasmussen provides more details (graph below):</p>
<p>The Rasmussen Reports daily Presidential Tracking Poll for Friday shows that 44% of Likely U.S. Voters approve of President Trump’s job performance. Fifty-four percent (54%) disapprove.</p>
<p>The latest figures include 29% who Strongly Approve of the way the president is performing and 44% who Strongly Disapprove. This gives him a Presidential Approval Index rating of -15. ( <a href="http://www.rasmussenreports.com/public_content/politics/trump_administration/trump_approval_index_history" type="external">see trends</a>).</p>
<p>While Rasmussen has generally provided Trump more favorable results, Gallup tends to give him some of the worst of the major polls. This week, Gallup rates Trump 6-points lower than Rasmussen. As of December 23, the <a href="http://www.gallup.com/poll/201617/gallup-daily-trump-job-approval.aspx" type="external">Gallup tracking poll</a> shows Trump with a 16-point deficit (40 – 56), which is an 8-point improvement from early December. (See Gallup's graph below.)</p>
<p>TRACKING TRUMP'S APPROVAL</p>
<p>Trump began his presidency deadlocked at 44%. In early March, Trump's average spread hovered around -6 points, worsening since then to double-digit deficits. Pollsters have continued to find a sharp partisan divide on opinions of Trump. In the early stages of his presidency, analysts <a href="" type="internal">agreed</a> that his approval numbers were "weaker than other presidents at comparable times in their presidencies." In late April, citing the WashPost/ABC News poll, the <a href="http://www.langerresearch.com/wp-content/uploads/1186a1Trump100Days.pdf" type="external">Lange Research group</a> noted that Trump's 42% approval was "the lowest approval rating at this point of any president in polls since 1945." The only president since then to dip lower than Trump was <a href="http://www.gallup.com/poll/116584/presidential-approval-ratings-bill-clinton.aspx" type="external">Bill Clinton</a>, whose approval nose-dived early in his presidency before rising steadily. In July, Gallup dug into what was really driving Trump's poll numbers and found that among those who disapproved of the president, 65% did so because of their negative perception of <a href="" type="internal">his personality or character</a>, rather than taking issue with his policies or job performance, as they did with Obama and Bush.</p>
<p>Below is RCP's graph tracking Trump's approval numbers since his inauguration, followed by Rasmussen's and Gallup's, all three showing similar trendlines:</p>
<p>ECONOMY</p>
<p>For the first two months of his presidency, Trump scored well on his handling of <a href="http://www.realclearpolitics.com/epolls/other/president_trump_job_approval_economy-6182.html" type="external">the economy</a>, consistently leading by several points in public perception. Since April, he has been effectively deadlocked on the issue. His average currently puts him at -2.7-points (44.6 – 47.3). His best performance of the most recent polls is +3 (47 - 44) in the December 17-19 Economist/YouGov survey. His worst is -10 (42 – 52) in the December 15-19 Reuters/Ipsos poll.</p>
<p>FOREIGN POLICY</p>
<p>The <a href="http://www.realclearpolitics.com/epolls/other/president_trump_job_approval_foreign_policy-6183.html" type="external">RCP foreign policy job approval average</a> of the key polls finds Trump currently at -18.7 points (37.8 – 56.5), which is about 2 points worse than early December. The two most recent polls, Economist/YouGov and Reuters/Ipsos, found Trump at -7 (42 – 49) and -19 (36 – 55), respectively. None of the recent national polls put him on the right side of the ledger. Trump began his presidency double-digits behind on his handling of foreign policy in most national polls. For a majority of his presidency, he has generally hovered between -10% and -15%.</p>
<p>DIRECTION OF THE COUNTRY</p>
<p>According to <a href="http://www.realclearpolitics.com/epolls/other/direction_of_country-902.html" type="external">RCP's average</a> of the most recent polls, 59.7% feel the country is on the "wrong track," while just 32.2% feel that the country is moving in the "right direction" — a -27.5% gap, which is 2% worse than early December but an 8% improvement since mid-October.</p>
<p>Public perception of the direction of the country has been strongly negative for years. In late summer of 2016, the feeling that we were moving in the wrong direction reached the high-60s, while less than 25% felt we were heading the right way. After some slight improvement during the transition from Obama to Trump, views steadily darkened beginning in late March, though they leveled off somewhat in May before taking another negative turn in mid-October, after which point they leveled off again. Below is RCP's graph of perception of the direction of the country over the last two years:</p>
<p>CONGRESSIONAL APPROVAL</p>
<p>Congressional approval continues to be overwhelmingly negative, far underperforming even the widespread pessimistic views on the direction of the country. RCP's most recent average of <a href="http://www.realclearpolitics.com/epolls/other/congressional_job_approval-903.html" type="external">congressional job approval</a> surveys shows Congress at an abysmal -58.6% approval, just 14.7% approving while 73.3% disapprove, which is about three points better than early December but around the average for the last few months.</p>
<p>The congressional approval gap diminished somewhat in the early stages of Trump's presidency, but still only managed to reach the low-40s in March. As bad as the current approval deficit is, it remains a slight improvement over President Obama's final year in office — during which time disapproval hit the high-70s and approval was in the low-teens — and is a significant improvement over the end of 2013, when disapproval reached the low-80s and approval sunk below 10%.</p>
<p>This article has been updated to provide the most recent poll numbers.</p> | true | 0 | hopped air force one head maralago christmas break president trump kept major legislative promise signed law widereaching tax reform bill decades one analysts say cut 15 trillion taxes give 80 taxpayers break trump hasnt many clear victories gop went high note year one marked controversy conspiracy theories violent protests witch hunt investigations epic showdowns white house fake news media scandals real imagined failed calls impeachment final days trumps roller coaster first year coming close americans feeling 45th president united states recent polling data beginning trumps overall approval numbers followed public perception handling economy foreign policy direction country finally congress trump job approval december 23 real clear politics average key national polls calculates trumps overall job approval 176 points 388 approving 564 disapproving 2point improvement early december points worse average since may best approval rating six recent surveys 44 rasmussen 44 54 worst 35 reutersipsos 35 60 rasmussen surveys likely voters thus one reliable pollsters frequently given trump favorable numbers polls proves true week trump finally broke even poll midapril 50 50 slid low 40s even high30s july december 21 tracking survey shows 10 points 44 54 4 better early december survey continues find far people strongly disapprove approve handling presidency rasmussen provides details graph rasmussen reports daily presidential tracking poll friday shows 44 likely us voters approve president trumps job performance fiftyfour percent 54 disapprove latest figures include 29 strongly approve way president performing 44 strongly disapprove gives presidential approval index rating 15 see trends rasmussen generally provided trump favorable results gallup tends give worst major polls week gallup rates trump 6points lower rasmussen december 23 gallup tracking poll shows trump 16point deficit 40 56 8point improvement early december see gallups graph tracking trumps approval trump began presidency deadlocked 44 early march trumps average spread hovered around 6 points worsening since doubledigit deficits pollsters continued find sharp partisan divide opinions trump early stages presidency analysts agreed approval numbers weaker presidents comparable times presidencies late april citing washpostabc news poll lange research group noted trumps 42 approval lowest approval rating point president polls since 1945 president since dip lower trump bill clinton whose approval nosedived early presidency rising steadily july gallup dug really driving trumps poll numbers found among disapproved president 65 negative perception personality character rather taking issue policies job performance obama bush rcps graph tracking trumps approval numbers since inauguration followed rasmussens gallups three showing similar trendlines economy first two months presidency trump scored well handling economy consistently leading several points public perception since april effectively deadlocked issue average currently puts 27points 446 473 best performance recent polls 3 47 44 december 1719 economistyougov survey worst 10 42 52 december 1519 reutersipsos poll foreign policy rcp foreign policy job approval average key polls finds trump currently 187 points 378 565 2 points worse early december two recent polls economistyougov reutersipsos found trump 7 42 49 19 36 55 respectively none recent national polls put right side ledger trump began presidency doubledigits behind handling foreign policy national polls majority presidency generally hovered 10 15 direction country according rcps average recent polls 597 feel country wrong track 322 feel country moving right direction 275 gap 2 worse early december 8 improvement since midoctober public perception direction country strongly negative years late summer 2016 feeling moving wrong direction reached high60s less 25 felt heading right way slight improvement transition obama trump views steadily darkened beginning late march though leveled somewhat may taking another negative turn midoctober point leveled rcps graph perception direction country last two years congressional approval congressional approval continues overwhelmingly negative far underperforming even widespread pessimistic views direction country rcps recent average congressional job approval surveys shows congress abysmal 586 approval 147 approving 733 disapprove three points better early december around average last months congressional approval gap diminished somewhat early stages trumps presidency still managed reach low40s march bad current approval deficit remains slight improvement president obamas final year office time disapproval hit high70s approval lowteens significant improvement end 2013 disapproval reached low80s approval sunk 10 article updated provide recent poll numbers | 672 |
<p>Pure Storage, Inc. (NYSE: PSTG)Q3 2018 Earnings Conference CallNovember 28, 2017, 5:00 p.m. ET</p>
<p>Continue Reading Below</p>
<p>Operator</p>
<p>Good afternoon. My name is Mike and I will be your conference operator today. At this time, I would like to welcome everyone to the Pure Storage Q3 Fiscal 2018 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. If you would like to ask a question during this time, press * then the number 1 on your telephone keypad. If you would like to withdraw your question, press the # key. I will now turn the call over to Matt Danziger, VP of Investor Relations. You may begin your conference.</p>
<p>Matt Danziger -- Vice President of Investor Relations</p>
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<p>Thank you and good afternoon. Welcome to the Pure Storage Q3 Fiscal 2018 Earnings Conference Call. Joining me today are our CEO, Charlie Giancarlo; our CFO, Tim Riitters; our President, David Hatfield; and our VP of Products, Matt Kixmoeller.</p>
<p>Before we begin, I would like to remind you that during this call, management will make forward-looking statements which are subject to various risks and uncertainties. These include statements regarding competitive industry and technology trends; our strategy, positioning, and opportunity; our current and future products; business and operations, including our operating model; growth prospects, revenue, and margin guidance for future periods.</p>
<p>Any forward-looking statements that we make are based on assumptions as of today and we undertake no obligation to update them. Our actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. A discussion of risks and uncertainties relating to our business is contained in our filings with the SEC and we refer you to these public filings.</p>
<p>Also, during this call, we will discuss non-GAAP measures in talking about the Company's performance. Reconciliations to the most directly comparable GAAP measures are provided in our earnings press release and slides.</p>
<p>This call is being broadcast live on Pure Storage's Investor Relations website and is being recorded for playback purposes. An archive of the webcast will be available on the IR website for approximately 45 days and is the property of Pure Storage.</p>
<p>With that, I'll turn the call over to our CEO, Charlie Giancarlo.</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Thank you, Matt. Good afternoon, everyone, and thanks for joining today's earnings call. We'll begin with a summary of our operating results and my observations after my first full quarter at Pure. I will then turn the call over to Hat, for some customer highlights, and finish with Tim, who will provide a detailed review of our financials.</p>
<p>Q3 was a strong quarter for Pure. Revenue was a record $278 million, up 41% from a year ago, beating the high end of our guidance. Non-GAAP gross margin was 66%, while Non-GAAP operating margin was a negative 0.07%, also above the high end of our guidance. We finished the quarter with a positive free cash flow and grew our cash balance by $28 million. As we look ahead, we remain on-track to deliver our first billion dollars in annual revenue and our first profitable quarter.</p>
<p>It has been three months since I joined Pure and, as you would expect, I've spent a lot of time diving into the business, meeting with customers and partners in addition to spending time with the Pure team discussing our company and our strategic imperatives. These discussions reaffirmed my belief that tomorrow's world will be driven by information, big data workloads, data analytics, machine learning, and AI. Information has become the strategic business imperative that requires fast, simple, scalable solutions. Aging architectures of legacy vendors are struggling to meet the needs of next-generation, data-rich environments.</p>
<p>Even in today's world of traditional applications, data storage is costly and complex. Storage designed by legacy vendors can't shed decades of needless complexity and still require the need to migrate data with every new generation of equipment. Pure's Evergreen storage model eclipses the competition in speed, simplicity, and cost, bridging the transition from today's environment to the next generation. Quite simply, customers with traditional workloads that have migrated to Pure have said to me repeatedly that Pure is the best product that they have ever purchased. They are asking for us to provide them more. They view Pure as one of their most strategic vendors and want to see us replace more of their existing infrastructure with our technology.</p>
<p>In the spirit of doing more with more customers, we will focus on three growth areas: 1.), growing our roster of cloud customers, 2.), cementing our lead as the core data infrastructure for next-generation applications like artificial intelligence, machine learning, and analytics, and 3.), expanding our footprint in the world's largest enterprises and government organizations. Each of these growth areas is a large opportunity on its own and, together, they represent a huge market opportunity for Pure.</p>
<p>Our product portfolio is strong. FlashArray has had a great quarter and continues to deliver record results, in part due to the introduction of FlashArray//X and the new features we announced at our last user conference. FlashBlade, launched earlier this year, continues to grow faster than FlashArray did in its first full year and, while it is now somewhere off its early 2X pace, it remains on a very strong growth trajectory. We are excited about the customer momentum for FlashBlade, which Hat will talk about later.</p>
<p>We have a business that is delivering greater value to customers, that is investing in the future, and that is positioned for growth at-scale. As we look to the future, we have set three operating priorities.</p>
<p>First, customer focus. It's our North Star. Every group at Pure, each decision, and every action we take will focus on customers first. We will continue to focus on driving industry-leading customer satisfaction at every stage of engagement. And, by customer, we mean both current and future customers.</p>
<p>Second, operational excellence. To compete at the highest levels, we will strive to deliver against the best possible benchmarks and results in every part of our company. The best teams always strive to do better.</p>
<p>Third, innovation everywhere. We will not only innovate with our technology portfolio, but also in every part our business model. Every organization in Pure is enthusiastic about driving new innovations and how they perform their work to deliver better overall value to all of our stakeholders. By focusing on innovation and customer delight, we empower our customers to turn data into intelligence and advantage.</p>
<p>Pure has exceeded my initial expectations and I could not be more excited and thrilled about all the opportunity in front of us. I have been with companies that have experienced growth at-scale and, in Pure, I see the same critical elements for continued growth.</p>
<p>And, with that, I'd like to hand it over to Hat to highlight some customer successes over the last quarter.</p>
<p>David Hatfield -- President</p>
<p>Thanks, Charlie. It's great to have you here. The excitement across our customers, partners, prospects, and sales teams is incredibly strong that we continue to deliver our unique data platform built for the cloud era.</p>
<p>The combination of our differentiated technology, superior customer experience, and Evergreen business model are winning in a competitive landscape where the legacy companies' historical approach is being challenged at every level.</p>
<p>This quarter, we added over 300 new customers, bringing our total to more than 4,000, up 54% from the same time last year. And contributions from cloud customers continue to represent more than 25% of our business. Our repurchase rates are holding nicely with over 70% of our business coming from our existing customers and our profoundly better support experience continues at-scale.</p>
<p>In addition to happy customers, we've seen validation through our audited net-promoter score of 83.7, which places us in the top 1% of enterprise technology and 2 to 3X higher than our competitors. Our partner ecosystem continues to build momentum. The contributions from leading national partners continues to be a focus and key investments with global systems integrators has resulted in a notable, multi-million dollar win with a large financial services institution in the quarter.</p>
<p>We're confident that our strategy and focus on being the preferred solution for our partners is right and it will continue to be an interval driver of our go-to-market velocity. Our sales teams' morale is high and our most recent new-hires, which represent our largest cohort classes, continue to produce the highest initial productivity on-record. Internationally, we were very pleased with our momentum across all three theaters, which contributed 31% of revenue this quarter, up from 26% last quarter.</p>
<p>As Charlie mentioned, we continue to be hyper focused on the three growth markets: cloud, next-generation workloads, and the largest enterprises as they cloud-ify their on-premise IT. I want to dive down into one of these areas each quarter -- this quarter, focusing on our progress in driving the adoption of next-generation data, AI, and analytics.</p>
<p>While still in the early days, we are seeing key design wins and adoption across industries. With analysts forecasting a 78% five-year compound annual growth rate for storage in AI, along with our differentiated capabilities, we are confident we are positioned perfectly to take advantage of this trend.</p>
<p>We continue to see great progress with our partner, Nvidia. This relationship started through our customers and joint sales teams and, in Q3, extended to global co-sponsored events worldwide. We also entered into a formal agreement with PNY Technologies, the European distributor of Nvidia Enterprise products. As the essential instrument for AI research, the Nvidia DGX1 is at the heart of many of the world's most demanding, deep-learning, and analytics environments.</p>
<p>FlashBlade is uniquely suited for organizations investing in these emerging workloads, ultimately, shortening the time to innovation and enabling faster time to development. Net-Net, Pure is the storage what Nvidia is to compute for AI. Additionally, FlashBlade won the "Best Innovation in Artificial Intelligence" award at a recent AI summit conference.</p>
<p>As I mentioned, the traction is strong across multiple industries, most notably, financial services, healthcare, service provider, automotive, and cloud-native businesses. Customers include four of the top autonomous driving companies and, in Q3, we've added a number of new SAAS accounts within the area of revenue management, web analytics, and hospitality distribution.</p>
<p>This is an incredibly exciting time at Pure. We're on the eve of delivering our first billion in annual revenue and the data platform strategy is working. We are enjoying fantastic customer and partner momentum and we have the combination of both Charlie and Dietz. We truly are only just getting started with the right technology, business model, and customer experience at the right time to help transform organizations globally.</p>
<p>With that, I will turn to Tim to provide details on the quarter. Tim?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Thanks, Hat. Q3 was another strong quarter of execution for Pure, as we continued to deliver strong revenue growth and achieved positive free cash flow. Before I dive into the specifics, I'll make my usual note that the gross margin, operating margin, OpEx, and free cash flow numbers I will use are non-GAAP unless otherwise noted. Reconciliations of these non-GAAP metrics to their GAAP comparables, as well as our full Q3 results and presentation, are available on our website at investor.purestorage.com.</p>
<p>Total revenue grew 41% year-on-year to $277.7 million, more than 2 points above the mid-point of our guidance. Product revenue grew 39% year-on-year to $223.2 million. Repeat purchases and solid new customer base growth helped drive our product revenue in the quarter. Total customers reached more than 4,000, up more than 50% from the same period a year ago.</p>
<p>Momentum in FlashArray was particularly strong and we continue to gain traction with FlashBlade. Support revenue in Q3 grew 50% year-on-year to $54.5 million, driven by continued revenue recognition of ongoing support contracts.</p>
<p>Looking at Q3 from a geographic perspective, 69% of our revenue came from the U.S. and 31% from international, an all-time high for the company. We are very pleased with the performance of all of our regions in this quarter. Q3 total gross margins were 66.4%, compared to 67.1% in Q2. We continue to drive industry-leading gross margins and have been operating in our long-term target range of between 63% and 68% for the last eight quarters.</p>
<p>Product gross margins, up 66.3%, decreased 1.2 points quarter-on-quarter as expected. As a reminder, last quarter, we outlined a handful of one-time benefits that positively impacted product gross margins, including lower cost components for pre-purchased inventory and one-time logistics benefits. Q3 results are more in line with our historic norms and well within our long-term operating range. Support gross margins of 67% improved quarter-on-quarter by 1.1 points, reflecting our expanding customer base and our continued efforts in driving operational efficiencies.</p>
<p>Turning to operating margin, we continue to make excellent progress in our march to profitability in achieving a long-term operating margin target of between 15 and 20%. Our operating loss in Q3 was negative $2.1 million or negative 0.07% of revenue, compared to negative $19.4 million or negative 9.8% of revenue in the year ago quarter. This represents a 9-point year-on-year improvement and more than a 2-point outperformance from the mid-point of our Q3 guidance.</p>
<p>Our net loss for the quarter was negative $1.9 million or negative $0.01 per share. This compares to the year ago period net loss of $20 million or negative $0.10 per share. The weighted average shares used for the per-share calculations were $213.3 million and $195.8 million, respectively.</p>
<p>Total headcount at the end of Q3 was up over 2,000, up from over $1,900 at the end of Q2 and up from over $1,650 a year prior, largely reflecting ongoing hiring in both our sales and R&amp;D organizations.</p>
<p>Moving on to the balance sheet and cash flow, we finished the October quarter with cash in investments of $550 million, which is a $28 million addition to our overall cash position from previous quarter and represents the first Q3 of positive cash flow generation in the company's history. We look forward to another quarter of free cash flow generation in Q4. Our free cash flow was positive $14 million or 5% of revenue, compared to negative $35.8 million or negative 18% of revenue in the year ago quarter.</p>
<p>This includes $2.5 million of impact related to our employee stock purchase plan. Excluding this amount, free cash flow would have been positive $16.5 million or 6% of revenue, compared to negative $30.4 million or negative 15% of revenue in the year ago quarter.</p>
<p>Now we'll turn to our guidance. For the fourth quarter, we expect revenues of between $327 and $335 million. This represents 45% year-on-year revenue growth at the midpoint and is based on momentum in the overall business combined with our seasonally strongest quarter of the year.</p>
<p>We expect Q4 non-GAAP gross margins in the range of between 63.5% and 66.5%. We continue to focus on operating within the sweet spot of our long-term model of between 63% and 68%. We expect Q4 non-GAAP operating margins of between positive 3% and positive 7%, which represents our first profitable quarter as a public company, another significant milestone in Pure's journey.</p>
<p>As we mentioned last quarter, as we drive to profitability, I want to remind you that our weighted average shares used for EPS will increase once we become profitable as we move to a fully diluted calculation. Please refer to our earnings presentation for further details on our fully diluted share count.</p>
<p>For the full year, we expect revenues of between $1.012 and $1.020 billion, a midpoint of $1.016 billion dollars. Non-GAAP gross margins of between 65.6% and 66.6% and non-GAAP operating margins of between negative 4.9% and negative 3.9%.</p>
<p>In summary, Q3 was another strong quarter for Pure with strong revenue growth and positive free cash generation. We are well-positioned to finish the full year with revenues of greater than $1 billion and deliver Pure's first quarter of operating profits in the upcoming Q4.</p>
<p>With that, we will now open the call for questions. Operator?</p>
<p>Operator</p>
<p>At this time, I'd like to remind everyone, in order to ask a question, press *1 on your telephone keypad. We will pause for a moment to compile a Q&amp;A roster.</p>
<p>Your first question is from Aaron Rakers from Wells Fargo.</p>
<p>Aaron Rakers -- Wells Fargo -- Managing Director, Technology Analyst</p>
<p>Yeah, thanks for taking the question and congratulations on the quarter. Actually, I have two quick questions if I can. So, first of all, I'd like to understand a little bit better the FlashBlade commentary. You talked about trending a little bit below the 2X the FlashArray ramp -- just help us understand where you stand relative to that $80 million revenue expectation for the full year? And then, also, Charles, I'm interested, as you look forward and you get your arms around the portfolio that's continued to expand, I'm interested in your thoughts around investing in terms of sales capacity, coverage, and distribution relative to continually driving operating margin leverage to the model as we start to look into the next fiscal year?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>You bet. Thanks very much for the question. We are very pleased, still, with the FlashBlade growth and it continues to be much faster than FlashArray in its first full year. Relative to the $80 million, this'll probably be the last time I talk about that -- we're in the ballpark. So, I just want to make clear that, in terms of my style, I prefer not to break out individual products on a quarterly basis, so we're going to push that aside from now on. The reason, having been in a multi-product company, you know that from quarter to quarter, we optimize on the total topline, not on individual products per quarter and you see things go up and down or grow faster or slower than others. But I will say that we are, if anything, even more optimistic and more pleased with FlashBlade than when we first introduced it. We continue to see new opportunities for it, we're getting great feedback from customers, and we couldn't be more optimistic about the product.</p>
<p>Oh, I'm sorry, then on the model leverage... The way we think about this -- and we've talked about this from time to time and Tim outlined in our meeting last year, our user's conference, what our long-term model is -- we see that we're going to continue to invest in sales and marketing but, at our current level, that's going to come down on a percentage of overall revenue. Now, to the extent that we grow faster, it'll obviously be a bit higher. To the extent we grow slower, we'll take that down.</p>
<p>So, long-term, you're going to see an overall reduction in sales and marketing, you're going to see an increase in the bottom line, but that'll be moderated somewhat by how fast we're able to grow the company overall.</p>
<p>Aaron Rakers -- Wells Fargo -- Managing Director, Technology Analyst</p>
<p>Fair enough. Thank you.</p>
<p>Operator</p>
<p>Your next question is from Wamsi Mohan from Bank of America Merrill Lynch.</p>
<p>Wamsi Mohan -- Bank of America Merrill Lynch -- Equity Research Analyst</p>
<p>Yes, thank you. If we step back and look at the pace of growth in all Flash revenues across the lenders, just handouts or you guys, Pure and then NetApp, can you address why you think NetApp is growing so much faster on a larger revenue base? Is it just the footprint and then selling it install-base or has it got something to do with pricing? Would love to get some thoughts around that and I will follow up.</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Look, I think that NetApp obviously had a great quarter and my hat's off to George and the entire team over there, but I'll remind you that, on an overall basis -- on a total company basis -- we're growing much, much faster. And, if you have a large install-base as they do, simply replacing your existing environment with Flash is going to produce Flash revenues that look much greater but, on an overall growth basis, we're much higher and I expect that to continue. And I think it's a single storage market at this point in time and I think you should be looking at companies from a total revenue perspective.</p>
<p>Wamsi Mohan -- Bank of America Merrill Lynch -- Equity Research Analyst</p>
<p>Are you seeing anything from a pricing dynamic that surprised you in the market in this past quarter?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>No, I would say that we've not seen any significant changes in overall pricing. The market, of course, every single deal is tough from a competition standpoint, but no significant movement in pricing this quarter.</p>
<p>Wamsi Mohan -- Bank of America Merrill Lynch -- Equity Research Analyst</p>
<p>If I could just ask one last one, you mentioned that sales and R&amp;D hires have been quite significant through the course of this past year. Can you just give us some sense of where, specifically, your sales hires are being focused to either in where-to-go markets or whichever way you'd like to, perhaps, characterize that regionally?</p>
<p>David Hatfield -- President</p>
<p>Hey, Wamsi, this is Hat. Thanks for the question. We're evenly distributing them across the globe. We were thrilled with our performance in international -- all three theaters produced nicely and we see the productivity and capacity coming along very nicely there. And we're also continuing to see that our latest cohorts and classes are producing the highest productivity levels on record and so, as long as we continue to see those kinds of forward-looking metrics, we're going to continue to invest in sales and marketing.</p>
<p>Wamsi Mohan -- Bank of America Merrill Lynch -- Equity Research Analyst</p>
<p>Great. Thanks a lot.</p>
<p>Operator</p>
<p>The next question is from Katy Huberty with Morgan Stanley.</p>
<p>Katy Huberty -- Morgan Stanley -- Managing Director, Research</p>
<p>Thank you. Good afternoon. Charlie, first question for you: when you think about the three growth factors that you laid out, do those require you to expand the product portfolio in the future, perhaps, even to adjacent markets to storage, or does the current product portfolio allow you to go and achieve all those goals? And maybe answer in the context of R&amp;D growth that's materially lower in the just-reported quarter versus where you were growing at that line a year ago?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Oh, Katy, thank you very much for the question. You know, I think the answer's really both, Katy. First of all, the existing product line that we have allows us to continue to expand in those markets, but the technology advances constantly and so, the more that... we have a lot to do in each of the product lines that will allow us to expand even faster in those markets. We do believe that our differentiated business model is characterized by a higher rate of R&amp;D spend than many of our competitors in this market and it's all focused on the future.</p>
<p>And I'll let Tim answer the question on the R&amp;D spend because, on a long-term basis, we really see that as something that we're going to continue to invest in and this is just an anomaly in the quarter.</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah, quarter-on-quarter, Katy, on the R&amp;D basis, obviously, the leverage, the quarter-on-quarter revenue's growing at 25% -- you're going to just get natural leverage. And we have some programs over the summer that tend to spike the R&amp;D number a little bit there, as well, so we're going to continue to invest in the ad line. I wouldn't read anything into the decal Q-on-Q.</p>
<p>Katy Huberty -- Morgan Stanley -- Managing Director, Research</p>
<p>Okay, thanks. And then, Tim, just a follow-up for you, how would you characterize the availability and pricing of SSDs in the quarter and what's your outlook in January? And then, to the extent that pricing starts to come down over the next year, how much do you think that helps your gross margin?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah. So, Katy, on the first part of your question, we continue to be very comfortable about our supply for the rest of the year and out into next year, as well. As you know, we've been watching this dynamic for quite some time and have managed very, very well through it and continue to expect to do so going into Calendar 2018. In terms of cost dynamics, what I would say is, rather than think about what that means to gross margin, we always talk about this mid-to-high 60's sweet spot that we like to play in -- we've been doing it now for eight quarters -- and that's the way I look at it. So, we may pass some of that onto customers to go capture more markets and we may put some of it in our own pocket, as well, but as long as we stay within that range, that's what's important to us from a management principal perspective.</p>
<p>Katy Huberty -- Morgan Stanley -- Managing Director, Research</p>
<p>Good. And, if I may just one quick more. Tim, if you think about normal seasonality in April, that could bring your April quarter revenue down below what you just reported. Do you think you could remain profitable in that scenario of normal seasonality or how should we think about the sustainability of profitability after the January quarter?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah, Katy, we're not naturally guiding for the next year, but I would take a look at the year that we're just in. Obviously, Q1's going to be the lowest from a profitability perspective and Q4 is going to be the highest from a profitability perspective. So, as you're thinking about modeling, that's the way I would look at it.</p>
<p>The other thing, you ask about seasonality -- we think about seasonality both in the bottom line and the top line. And I know this was a topic last year, as well, but, as we start stabilizing our overall growth rates -- we talked on the analyst day about having 30% CAGRs -- what you really want to take a look at is our full-year revenue growth rate, approximating a lot of the quarters, as well, right, because now that you're getting to a stabilization, you really shouldn't see big differences between the individual quarters and the full-year, if that makes sense.</p>
<p>Katy Huberty -- Morgan Stanley -- Managing Director, Research</p>
<p>Thank you.</p>
<p>Operator</p>
<p>The next question is from Mark Mosk with Barclays.</p>
<p>Mark Moskovitch -- Barclays -- Equity Analyst</p>
<p>Yes, thank you. Good afternoon. I apologize if this question was already asked -- I dropped off for a second -- but did you guys talk about how we should think about the profitability cadence on a full-year basis, thinking about Calendar '18? You obviously are exhibiting some really good news here in terms of leverage now, but can you be profitable for a full year Calendar '18? I guess that question's more for Tim. And then my other question is for Charlie: clearly, the enthusiasm is very palpable here on the call today across the E Suite here -- I just want to get a sense of the cloud. You've signaled previously AWS and Asher Integration opportunities are there -- we didn't hear too much about that today. Can you give us a little more in terms of when investors could see some of that enthusiasm actually be monetized over the next 12 to 18 months in the cloud? Thank you.</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>So, Mark, I'll take the first question on profitability and then turn it over to Charlie on the second question. On profitability, we naturally aren't going to guide for the full year next year, but we do see seasonality in the profit number -- you see that throughout this year, you've seen that throughout years past -- so I would think about it very much the same way as we get into next year. And our march is to profitability so we're, right now, what, for the full-year, negative low single digits so you can infer from that that we're moving in the right direction.</p>
<p>David Hatfield -- President</p>
<p>Mark, and this is Hat. I'll take the winning in the cloud. I think the key statement here is that the explosive growth data, our fundamental premise is they're going to operate in a multi-cloud world with sensors, and AI, and machine learning, and all the data that's created by machines forecasted to be 40, 50 zeta-bytes in the future and total internet storage capacity over the next few years to be a fraction of that -- called 2.5 or 3 zeta-bytes -- customers are going to need to operate on the edge, they're going to need to operate on-prem, and they're going to need to operate in the public cloud and their partners.</p>
<p>And so, we built our platform to enable the cloud so SAAS, together with IAS, and PAAS, and native-cloud businesses continue to contribute 25%. We have some of the largest cloud scale environments as customers. They're big companies, they have a lot of different use cases, and you'll see us continue to work with them on integrating and building go-to-market motion in the future. There's a really great series of conversations going on and we're optimistic for integrating with them in the future.</p>
<p>Mark Moskovitch -- Barclays -- Equity Analyst</p>
<p>Thank you.</p>
<p>Operator</p>
<p>The next question is from Steve Milunovitch with UBS.</p>
<p>Steven Milunovich -- UBS -- Managing Director</p>
<p>Thank you. Charlie, as you've been able to dig into the company a bit more, where do you see room for improvements and things that you've learned at large companies that you can bring to Pure to help it scale?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Yeah, thanks for the question. We mentioned some of them in the call, right, which is a movement upmarket. I think part of that is not me, per se, but simply the natural progression of the company as it grows more and more larger customers and larger parts of their environment. And that just requires some modification of the selling motion, distribution motion, marketing motion, and so, forth so that's part of it. I think, given that we're now a multi-product company, and the way you manage in a multi-product company changes to some extent.</p>
<p>And then, simply, just the fact that we're now over 2,000 people, the way that one needs to communicate and coordinate throughout the company -- those are things that we're making some modification to. But none of these things are either rocket science or newly coined. These are things that every company that goes through this level of scale goes through so I see it as something that's very straight-forward and the team was hungry for it and jumped right on it.</p>
<p>Steven Milunovich -- UBS -- Managing Director</p>
<p>Thanks. Then I wanted to ask you, you have a familiarity with Arista and there seem to be some similarities between Pure and Arista, but I'm sure there's also some important differences. Maybe you could talk about your observations of the two companies?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Absolutely. The similarity is that both companies are created with deep technologists at its core that really understand the technology, really understand the markets, and are really, if you will, fighting for the advancement of computing and performance of technology. I would say, in terms of the differences, that Pure is a much more of an enterprise-oriented company at the moment, whereas Arista is more cloud-oriented, with each one of us trying to build up more momentum in the other's segment so we're maybe starting at opposite points on the compass, but headed toward the center.</p>
<p>Steven Milunovich -- UBS -- Managing Director</p>
<p>Thank you.</p>
<p>Operator</p>
<p>The next question is from Jason Ader with William Blair.</p>
<p>Jason Ader -- William Blair and Company -- Analyst</p>
<p>Yes, thank you. I had a question, first, for Hat on the federal vertical. Is that an area that you guys are investing in and do you feel like you can be a winner there? And then, for Charlie, what's happening with your win rates against DELI and CM? I see the Asher business doing very well and some of our checks seem to suggest that you're seeing more displacements of big EMC accounts? Can you comment on that?</p>
<p>David Hatfield -- President</p>
<p>Hey, Jason, it's Hat. Thanks for the question. Yeah, we are investing in public sector, overall. The key market that Charlie mentioned that we are hyper focused on are cloud businesses, next-generation use cases, and the large enterprise and, within the large enterprise, it includes federal agencies as well as large state and local organizations and healthcare. So, you'll see us talk more about those wins in the future.</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Right. And, in terms of our win rates, I'd say that our win rates are stable, but we are just competing for more deals.</p>
<p>Jason Ader -- William Blair and Company -- Analyst</p>
<p>Okay. Thanks very much.</p>
<p>Operator</p>
<p>The next question is from Alex Kurtz with KeyBanc Capital Markets.</p>
<p>Alex Kurtz -- KeyBanc Capital Markets -- Managing Director</p>
<p>Hey guys, this is Steve Enders on for Alex. Thanks for taking my question. I was wondering if you could talk about trends you're seeing in account rep yields in 3Q and heading into 4Q? And I know you guys aren't speaking to Fiscal '19 yet, but are there any new class of hires that we can expect that may affect yields beginning of next year?</p>
<p>David Hatfield -- President</p>
<p>Hey, Steve, this is Hat. I'll hit the first part and maybe Tim will jump on afterwards. We're seeing great productivity, continued motion from a sales capacity perspective. The latest cohort classes that we've brought in continue to be outperforming our most productive cohorts so we see great sales capacity there. I think the key contributor there, from my point of view, is the data platform strategy is working and our channel ecosystem is contributing nicely. So, I think those two motions -- that portfolio-selling motion, together with our continued focus on the channel -- is driving and creating higher sales yields and I think that will continue in the future.</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah, Steve, and on an investment philosophy perspective, into next year -- obviously, not guiding -- but, historically, the first half of the year has been when we've invested most notably in the sales and marketing organizations, the best time to get the quality sales people that we're looking for and get them trained for the seasonally stronger second half. We've been doing that now for three or four years and I don't anticipate any changes in term of how we go to market next year.</p>
<p>Alex Kurtz -- KeyBanc Capital Markets -- Managing Director</p>
<p>Okay. And I just want to ask, you guys highlighted your analyst day, $2 billion revenue goal in 2021 and I was wondering if anything has changed that would affect that outlook?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Not at all. It continues to absolutely be the longer-term target after we pass through this billion-dollar number.</p>
<p>Alex Kurtz -- KeyBanc Capital Markets -- Managing Director</p>
<p>Great. Thanks, guys.</p>
<p>Operator</p>
<p>Next question is from Eric Martinuzzi with Lake Street.</p>
<p>Eric Martinuzzi -- Lake Street -- Equity Research Analyst, Technology</p>
<p>Yeah, your international growth was really standout. I'm wondering if that has more to do with just growing off a smaller base, or is there a difference in the competitive landscape in international?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Yeah. No, Eric, I think what we're seeing is just the capacity coming online -- making investments in international takes time -- so I think it's a combination of brand awareness, sales capacity online and the channel maturing. We see continued execution across all of our theaters and so, we see nice growth in Americas, as well. So, I think, on an overall contribution basis, we anticipate that we're going to continue to see a larger and larger contribution from our non-North America markets.</p>
<p>Eric Martinuzzi -- Lake Street -- Equity Research Analyst, Technology</p>
<p>Okay. And just for a housekeeping item for Tim, if you made it crystal clear on the press release, I missed it, but the diluted weighted average share account, I think the last time you talked about it was around $237 million in shares, but we've seen a pretty substantial increase in the stock price so I was wondering is there a better number for that as we cross into adjusted EPS profits?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah. So, Eric, what I'd say is that, this last quarter, had we been profitable, we would have had a $243 million share count for purposes of EPS purposes. That will creep up a little bit as we brand more options and awards. There's a table in the DAC that shows across various stock prices what that adjustment would be so I think, if you're in that $240 to $250 range, you're probably safe in terms of how you think about it from a modeling perspective.</p>
<p>Eric Martinuzzi -- Lake Street -- Equity Research Analyst, Technology</p>
<p>Got you. Thank you.</p>
<p>Operator</p>
<p>The next question is from Jason Nolan with Barrett.</p>
<p>Jason Nolan -- Barrett Asset Management</p>
<p>Okay, so thank you. A follow-up on international: were there any big deals worth calling out or did GDPR play a role there in that strength?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Yeah, we did have a significant win in the large global financial services organization that I referenced in our prepared remarks, but nothing that was material that would really swing it. We see nice penetration in the enterprise, great in the public sector and our continued cloud efforts have been paying off in all of those markets so I think, more of the same, we believe it's sustainable.</p>
<p>Jason Nolan -- Barrett Asset Management</p>
<p>Okay. And then a follow-up, software only -- and I don't know if this would apply -- but is it possible in the future to see Pure IP on a white box or in the cloud, or is that not really something that would make sense?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>I'm going to hand that over to Kix.</p>
<p>Matt Kixmoeller -- Vice President of Products</p>
<p>Look, anything's possible. Obviously, our solutions are powered by software and software is a key part of the value-add. Today, we focused on deep integration between the software and the hardware for both ease of use and overall simplicity and, also, the best performance but, as we continue to look at delivery modals, we'll keep everything on the table to consider over time.</p>
<p>Jason Nolan -- Barrett Asset Management</p>
<p>Super. Thanks, guys.</p>
<p>Operator</p>
<p>The next question is from Simon Leopold with Raymond James.</p>
<p>Simon Leopold -- Raymond James Financial, Inc -- Managing Director</p>
<p>Great. Thanks for taking my question. I wanted to see if we could take a little bit of a look into Fiscal '19, Calendar 2018 in terms of a couple aspects. First of all, just want to see if you could review your thoughts on seasonality, given that your April quarter usually has a pretty pronounced sequential decline -- just want to make sure we're all on the same page in terms of how to think about seasonality? And then, in terms of the full year, I just want to see if you could revisit the commentary you gave us -- a nice grid perspective of FlashBlade and all Flash growth leading to somewhere in the 30% range growth -- I just want to see if we can revisit how you're thinking about the growth outlook for the full year?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah, Simon, I'll take your full-year question first and then we'll get into the seasonality within the quarters. On the full-year, you articulated, if you think back to our analyst day, we talked about a variety of different scenarios that get us above that 30% CAGR over the course of the next handful of years and I think that nothing's changed in terms of how we think about the business and the targets that we're executing on. So, I think you're thinking about that just like we are here at the company.</p>
<p>As it relates to the quarters, I made a remark earlier in this Q&amp;A is that, now that we're in that stable growth phase of the company, really looking at each quarter on a year-on-year basis and compare it to the full-year numbers, those growth rates should, all else being equal, really be very similar. Right? You shouldn't see big deltas between a Q1 growth rate and a Q3 growth rate or a Q1 growth rate and a full-year growth rate. It should really be stable.</p>
<p>Simon Leopold -- Raymond James Financial, Inc -- Managing Director</p>
<p>And, when we think about that, should we be looking at the January quarter that you've guided to, which is mid-point around 45% year-over-year growth rate -- that's well above 30? I assume you're not suggesting we should think about 45% as the new normal?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah. No, naturally, Simon, we're lapping another year, we're going to post a billion dollars and, every time you lap a year, those comps obviously get tougher so I think you're thinking about it right.</p>
<p>Simon Leopold -- Raymond James Financial, Inc -- Managing Director</p>
<p>Great. And then just one last big picture, if you could help us understand how to think about the addressed market? When you think about machine learning, artificial intelligence, what's opening up -- we're struggling to try to think about a TAM expectation. And I know it's still early, but any metrics you could help us frame this? Thank you.</p>
<p>Matt Kixmoeller -- Vice President of Products</p>
<p>This is Kix -- I'll take that one. So, I think the first thing I'd say is that we believe a big chunk of that market is all net new so I think everyone, like yourselves, is struggling to understand how big it can be. The thing that I think we've been excited about over the last few quarters is to see it grow from a few very focused industries like self-driving cars and things of that nature, to really seeing ourselves starting to have AI conversations in almost every industry.</p>
<p>We highlighted the manned HL example on this call because we thought it was a great breakthrough of these types of technologies in the more classic financials and we're having these conversations across a wide range of industries. We think this is something that most CIOs will look at as something to put some of their innovation dollars toward and it's going to be a huge growth driver. And so, there's been a few studies out -- the number we highlighted on the call was 78% CAGR -- but I think we're also hoping to see more of the analyst community jump in and size the opportunity.</p>
<p>Simon Leopold -- Raymond James Financial, Inc -- Managing Director</p>
<p>Great. Thank you.</p>
<p>Operator</p>
<p>The next question is from Tim Long with BMO Capital Markets.</p>
<p>Tim Long -- BMO Capital Markets -- Managing Director</p>
<p>Thank you. Yeah, two quick ones, if I could. First, could you talk a little bit about deal sizes? Are they growing? It sounds like the win rate is similar with a little bit more activity of biz that you're in, but can you talk about the deal sizes that you're seeing? And then, secondly, just talk a little bit about, as the revenues may shift around between the verticals -- particularly, if you get more into that cloud customer base -- how should we think about gross and operating margins or profitability potential for some of those different verticals?</p>
<p>David Hatfield -- President</p>
<p>Hey, Tim, this is Hat. So, no material difference, really, on the average deal sizes. We're competing for more at-bats and our win rates are holding or improving against every competitor that we have out there so it's more about getting additional at-bats but we will anticipate seeing larger opportunities inside of FlashBlade over time, but, as that becomes more of an equal contributor, that could influence things. But, right now, we're seeing great stability in the win rates and the deal sizes and seeing more at-bats and those are the things that we're focused on.</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Yeah, and I'll talk a little bit about this -- I'll talk about the margin question relative to cloud. I think the way to think about it, first of all, we have a mix of cloud customers today. Right? And you have our financials today so you see, already, what a blend of this looks like. However, I think, if and as cloud gets larger, one might see... we would expect stable operating margins, not to affect the operating margin line. Obviously, the amount of expense or the amount of cost on COGS versus the amount spent on SG&amp;A will be different, but I would expect it not to affect operating margin.</p>
<p>Tim Long -- BMO Capital Markets -- Managing Director</p>
<p>Thank you.</p>
<p>Operator</p>
<p>Your next question is from Erik Suppiger with JMP.</p>
<p>Erik Suppiger -- JMP Securities -- Senior Research Analyst</p>
<p>Yeah, thanks for taking the question. First off, Charlie, you said that you're very pleased with FlashBlade in spite of some slowing in that growth rate. What is it that gives you the confidence that the FlashBlade is not going to slow further? And, secondly, you had talked about ability to leverage your sales and marketing better going forward. Where you see ability to really drive some operating leverage on the sales and marketing front?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Right. Yeah, thank you for the question. I have been through a significant number of new product introductions in the past and this one is as fast as any that I've ever seen. And, as we continue to identify it's faster than FlashArray in its first year, and that was a very fast-growing product. So, in any one quarter, you're going to see variation of new product, especially in a field environment that sells multiple products, so it doesn't concern me at all. What I do hear is from customers, the customers that love this product -- and now there are quite a substantial number of them -- are very pleased with it, plan on buying more, are looking to see what new opportunities they can bring it into inside their own environment and we're getting better at spotting the best and, if you will, the most efficient areas in which to sell the product. So, there's just a lot of good reasons to be optimistic about the product.</p>
<p>Erik Suppiger -- JMP Securities -- Senior Research Analyst</p>
<p>And, on the sales and marketing front?</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Right. Sorry about that. I can only remember one question at a time, apparently. No, on sales and marketing front, it's really scale economics, A.), B.) is moving into larger accounts, and C.) is a more efficient channel environment that becomes more independent in selling into the mid-market. Also, I'll say that brand recognition is improving, as well, and that makes it somewhat easier to not only penetrate new accounts but, frankly, to expand inside of existing environments. So, I think all those things are quite natural in a growing company like ours to help us to really improve overall efficiency on the sales and marketing alignment.</p>
<p>Erik Suppiger -- JMP Securities -- Senior Research Analyst</p>
<p>Very good. Thank you.</p>
<p>Operator</p>
<p>Your next question is from Nehal Chokshi with Maxim Group.</p>
<p>Nehal Chokshi -- Maxim Group -- Enterprise and Consumer Technology Senior Analyst</p>
<p>Thanks, and very good quarter, especially when you take into account that DSOs declined ten days here over a year and it looks like five days below typical levels so I think that does imply a much more linear selling quarter. So, my question is, presuming all those things are true, is it fair to say that, had the linearity been like prior years, revenue bookings would have been correspondingly higher?</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Nehal, this is Tim. We haven't historically offered any commentary on inter-quarter linearity in the calls. I would just refer back to the fact that we reaccelerated growth here and, again, 41% growing at-scale and on our way to a billion dollars. Those are the measures we talk about publicly and, obviously, put in a really good quarter.</p>
<p>Nehal Chokshi -- Maxim Group -- Enterprise and Consumer Technology Senior Analyst</p>
<p>Okay. Thank you.</p>
<p>Operator</p>
<p>The next question is from Edward Parker with BTIG.</p>
<p>Edward Parker -- BTIG -- Senior Vice President</p>
<p>Thanks. Just a quick one on FlashBlade, a piece of feedback that I think some of us have heard from your partners, at least, in the enterprise channel -- sounds like the product maybe lacks some maturity in terms of features and other capabilities that enterprises require for further and structure data requirements. I guess the question is, is that fair, and what do you think you need to add in terms of capability to the product for it to become more of a mainstream buy for enterprises, and when might you expect that to happen? Thanks.</p>
<p>David Hatfield -- President</p>
<p>Hi, Edward, this is Hat. There's two distinct markets for FlashBlade as we're getting more stick time with it. First, is the next-gen, AI, machine learning, and real-time analytics segment. That is a great fit and completely differentiated from anything else in the market in that world. I think the second area is the replacement of legacy IT and this is going after the NAS and the object stores that are out there and this is actually taking the fight to NetApp where we really haven't focused in their file-based world. And, that, it is a first-generation product and so, you're going to have years of features that we're going to build out to be able to hit more and more of that addressable market, but we're having great success in both of those categories today. And maybe I'll hand it to Kix for either commentary on it.</p>
<p>Matt Kixmoeller -- Vice President of Products</p>
<p>Yeah. No, I just said I think the strategy's working. When we set out a couple years ago, we made a choice to say do we go after the legacy existing market, which we knew was a feature game, or do we try to really build something that no one had seen before to go after the next-gen use cases and we decided to go after the next-gen use cases -- we're winning there -- and we'll, of course, have the features over time to build abroad to the whole market.</p>
<p>Operator</p>
<p>The next question is from Steven Fox with Cross Research.</p>
<p>Steven Fox -- Cross Research -- Managing Director</p>
<p>Yeah. Thanks. Just a couple of quick questions on top line. First of all, Tim, on your 41% year-over-year growth, is there any way to maybe qualify how much came from existing customers versus new customer acquisitions and where there are deal sizes on a year-over-year basis contributing to the growth on an average? And then, secondly, do you see any constraints in terms of the top line because of how tight NAAND or do you think this is a pretty trued-up growth rate for you, given the NAAND supply environment? Thanks.</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Yeah, so Steven, on your first part of your question, the relative split between new customers and existing customers has stayed about the same, a very healthy number on each side of that equation, if you will. Deal sizes, there was a question earlier. We don't talk, really, a lot about deal sizes, but they continue to hold where we like to see them so we're very happy about that, as well. And then, as it relates to NAAND supply, we continue to manage very well and have good line of sight and visibility -- supply constraints are not something that concerns us from a revenue perspective.</p>
<p>Steven Fox -- Cross Research -- Managing Director</p>
<p>Thanks very much.</p>
<p>Operator</p>
<p>And that was our last question. I will now turn the call over to Charlie Giancarlo for closing comments.</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>Well, thank you and thank you all very much for joining us today. In closing, we had a very solid Q3. We believe the future will be driven by information and all of us here at Pure are focused on helping customers build a better world with data. Momentum remains strong across our leading technology portfolio and we're really looking forward to a strong finish for the year. And thank you, again, for joining us and that's the end of the call. Thank you.</p>
<p>Operator</p>
<p>This concludes today's conference call. You may now disconnect.</p>
<p>Duration: 51 minutes</p>
<p>Matt Danziger -- Head of Investor Relations</p>
<p>Charles Giancarlo -- Chief Executive Officer</p>
<p>David Hatfield -- President</p>
<p>Tim Riitters -- Chief Financial Officer</p>
<p>Matt Kixmoeller -- Vice President of Products</p>
<p>Aaron Rakers -- Wells Fargo -- Managing Director, Technology Analyst</p>
<p>Wamsi Mohan -- Bank of America Merrill Lynch -- Equity Research Analyst</p>
<p>Katy Huberty -- Morgan Stanley -- Managing Director, Research</p>
<p>Mark Moskovitch -- Barclays -- Equity Analyst</p>
<p>Steven Milunovich -- UBS -- Managing Director</p>
<p>Jason Ader -- William Blair and Company -- Analyst</p>
<p>Alex Kurtz -- KeyBanc Capital Markets -- Managing Director</p>
<p>Eric Martinuzzi -- Lake Street -- Equity Research Analyst, Technology</p>
<p>Jason Nolan -- Barrett Asset Management</p>
<p>Simon Leopold -- Raymond James Financial, Inc -- Managing Director</p>
<p>Tim Long -- BMO Capital Markets -- Managing Director</p>
<p>Erik Suppiger -- JMP Securities -- Senior Research Analyst</p>
<p>Nehal Chokshi -- Maxim Group -- Enterprise and Consumer Technology Senior Analyst</p>
<p>Edward Parker -- BTIG -- Senior Vice President</p>
<p>Steven Fox -- Cross Research -- Managing Director</p>
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The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=546ceee6-d4ba-11e7-82e1-0050569d4be0&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | pure storage inc nyse pstgq3 2018 earnings conference callnovember 28 2017 500 pm et continue reading operator good afternoon name mike conference operator today time would like welcome everyone pure storage q3 fiscal 2018 earnings call lines placed mute prevent background noise speakers remarks questionandanswer session would like ask question time press number 1 telephone keypad would like withdraw question press key turn call matt danziger vp investor relations may begin conference matt danziger vice president investor relations advertisement thank good afternoon welcome pure storage q3 fiscal 2018 earnings conference call joining today ceo charlie giancarlo cfo tim riitters president david hatfield vp products matt kixmoeller begin would like remind call management make forwardlooking statements subject various risks uncertainties include statements regarding competitive industry technology trends strategy positioning opportunity current future products business operations including operating model growth prospects revenue margin guidance future periods forwardlooking statements make based assumptions today undertake obligation update actual results may differ materially results predicted reported results considered indication future performance discussion risks uncertainties relating business contained filings sec refer public filings also call discuss nongaap measures talking companys performance reconciliations directly comparable gaap measures provided earnings press release slides call broadcast live pure storages investor relations website recorded playback purposes archive webcast available ir website approximately 45 days property pure storage ill turn call ceo charlie giancarlo charles giancarlo chief executive officer thank matt good afternoon everyone thanks joining todays earnings call well begin summary operating results observations first full quarter pure turn call hat customer highlights finish tim provide detailed review financials q3 strong quarter pure revenue record 278 million 41 year ago beating high end guidance nongaap gross margin 66 nongaap operating margin negative 007 also high end guidance finished quarter positive free cash flow grew cash balance 28 million look ahead remain ontrack deliver first billion dollars annual revenue first profitable quarter three months since joined pure would expect ive spent lot time diving business meeting customers partners addition spending time pure team discussing company strategic imperatives discussions reaffirmed belief tomorrows world driven information big data workloads data analytics machine learning ai information become strategic business imperative requires fast simple scalable solutions aging architectures legacy vendors struggling meet needs nextgeneration datarich environments even todays world traditional applications data storage costly complex storage designed legacy vendors cant shed decades needless complexity still require need migrate data every new generation equipment pures evergreen storage model eclipses competition speed simplicity cost bridging transition todays environment next generation quite simply customers traditional workloads migrated pure said repeatedly pure best product ever purchased asking us provide view pure one strategic vendors want see us replace existing infrastructure technology spirit customers focus three growth areas 1 growing roster cloud customers 2 cementing lead core data infrastructure nextgeneration applications like artificial intelligence machine learning analytics 3 expanding footprint worlds largest enterprises government organizations growth areas large opportunity together represent huge market opportunity pure product portfolio strong flasharray great quarter continues deliver record results part due introduction flasharrayx new features announced last user conference flashblade launched earlier year continues grow faster flasharray first full year somewhere early 2x pace remains strong growth trajectory excited customer momentum flashblade hat talk later business delivering greater value customers investing future positioned growth atscale look future set three operating priorities first customer focus north star every group pure decision every action take focus customers first continue focus driving industryleading customer satisfaction every stage engagement customer mean current future customers second operational excellence compete highest levels strive deliver best possible benchmarks results every part company best teams always strive better third innovation everywhere innovate technology portfolio also every part business model every organization pure enthusiastic driving new innovations perform work deliver better overall value stakeholders focusing innovation customer delight empower customers turn data intelligence advantage pure exceeded initial expectations could excited thrilled opportunity front us companies experienced growth atscale pure see critical elements continued growth id like hand hat highlight customer successes last quarter david hatfield president thanks charlie great excitement across customers partners prospects sales teams incredibly strong continue deliver unique data platform built cloud era combination differentiated technology superior customer experience evergreen business model winning competitive landscape legacy companies historical approach challenged every level quarter added 300 new customers bringing total 4000 54 time last year contributions cloud customers continue represent 25 business repurchase rates holding nicely 70 business coming existing customers profoundly better support experience continues atscale addition happy customers weve seen validation audited netpromoter score 837 places us top 1 enterprise technology 2 3x higher competitors partner ecosystem continues build momentum contributions leading national partners continues focus key investments global systems integrators resulted notable multimillion dollar win large financial services institution quarter confident strategy focus preferred solution partners right continue interval driver gotomarket velocity sales teams morale high recent newhires represent largest cohort classes continue produce highest initial productivity onrecord internationally pleased momentum across three theaters contributed 31 revenue quarter 26 last quarter charlie mentioned continue hyper focused three growth markets cloud nextgeneration workloads largest enterprises cloudify onpremise want dive one areas quarter quarter focusing progress driving adoption nextgeneration data ai analytics still early days seeing key design wins adoption across industries analysts forecasting 78 fiveyear compound annual growth rate storage ai along differentiated capabilities confident positioned perfectly take advantage trend continue see great progress partner nvidia relationship started customers joint sales teams q3 extended global cosponsored events worldwide also entered formal agreement pny technologies european distributor nvidia enterprise products essential instrument ai research nvidia dgx1 heart many worlds demanding deeplearning analytics environments flashblade uniquely suited organizations investing emerging workloads ultimately shortening time innovation enabling faster time development netnet pure storage nvidia compute ai additionally flashblade best innovation artificial intelligence award recent ai summit conference mentioned traction strong across multiple industries notably financial services healthcare service provider automotive cloudnative businesses customers include four top autonomous driving companies q3 weve added number new saas accounts within area revenue management web analytics hospitality distribution incredibly exciting time pure eve delivering first billion annual revenue data platform strategy working enjoying fantastic customer partner momentum combination charlie dietz truly getting started right technology business model customer experience right time help transform organizations globally turn tim provide details quarter tim tim riitters chief financial officer thanks hat q3 another strong quarter execution pure continued deliver strong revenue growth achieved positive free cash flow dive specifics ill make usual note gross margin operating margin opex free cash flow numbers use nongaap unless otherwise noted reconciliations nongaap metrics gaap comparables well full q3 results presentation available website investorpurestoragecom total revenue grew 41 yearonyear 2777 million 2 points midpoint guidance product revenue grew 39 yearonyear 2232 million repeat purchases solid new customer base growth helped drive product revenue quarter total customers reached 4000 50 period year ago momentum flasharray particularly strong continue gain traction flashblade support revenue q3 grew 50 yearonyear 545 million driven continued revenue recognition ongoing support contracts looking q3 geographic perspective 69 revenue came us 31 international alltime high company pleased performance regions quarter q3 total gross margins 664 compared 671 q2 continue drive industryleading gross margins operating longterm target range 63 68 last eight quarters product gross margins 663 decreased 12 points quarteronquarter expected reminder last quarter outlined handful onetime benefits positively impacted product gross margins including lower cost components prepurchased inventory onetime logistics benefits q3 results line historic norms well within longterm operating range support gross margins 67 improved quarteronquarter 11 points reflecting expanding customer base continued efforts driving operational efficiencies turning operating margin continue make excellent progress march profitability achieving longterm operating margin target 15 20 operating loss q3 negative 21 million negative 007 revenue compared negative 194 million negative 98 revenue year ago quarter represents 9point yearonyear improvement 2point outperformance midpoint q3 guidance net loss quarter negative 19 million negative 001 per share compares year ago period net loss 20 million negative 010 per share weighted average shares used pershare calculations 2133 million 1958 million respectively total headcount end q3 2000 1900 end q2 1650 year prior largely reflecting ongoing hiring sales rampd organizations moving balance sheet cash flow finished october quarter cash investments 550 million 28 million addition overall cash position previous quarter represents first q3 positive cash flow generation companys history look forward another quarter free cash flow generation q4 free cash flow positive 14 million 5 revenue compared negative 358 million negative 18 revenue year ago quarter includes 25 million impact related employee stock purchase plan excluding amount free cash flow would positive 165 million 6 revenue compared negative 304 million negative 15 revenue year ago quarter well turn guidance fourth quarter expect revenues 327 335 million represents 45 yearonyear revenue growth midpoint based momentum overall business combined seasonally strongest quarter year expect q4 nongaap gross margins range 635 665 continue focus operating within sweet spot longterm model 63 68 expect q4 nongaap operating margins positive 3 positive 7 represents first profitable quarter public company another significant milestone pures journey mentioned last quarter drive profitability want remind weighted average shares used eps increase become profitable move fully diluted calculation please refer earnings presentation details fully diluted share count full year expect revenues 1012 1020 billion midpoint 1016 billion dollars nongaap gross margins 656 666 nongaap operating margins negative 49 negative 39 summary q3 another strong quarter pure strong revenue growth positive free cash generation wellpositioned finish full year revenues greater 1 billion deliver pures first quarter operating profits upcoming q4 open call questions operator operator time id like remind everyone order ask question press 1 telephone keypad pause moment compile qampa roster first question aaron rakers wells fargo aaron rakers wells fargo managing director technology analyst yeah thanks taking question congratulations quarter actually two quick questions first id like understand little bit better flashblade commentary talked trending little bit 2x flasharray ramp help us understand stand relative 80 million revenue expectation full year also charles im interested look forward get arms around portfolio thats continued expand im interested thoughts around investing terms sales capacity coverage distribution relative continually driving operating margin leverage model start look next fiscal year charles giancarlo chief executive officer bet thanks much question pleased still flashblade growth continues much faster flasharray first full year relative 80 million thisll probably last time talk ballpark want make clear terms style prefer break individual products quarterly basis going push aside reason multiproduct company know quarter quarter optimize total topline individual products per quarter see things go grow faster slower others say anything even optimistic pleased flashblade first introduced continue see new opportunities getting great feedback customers couldnt optimistic product oh im sorry model leverage way think weve talked time time tim outlined meeting last year users conference longterm model see going continue invest sales marketing current level thats going come percentage overall revenue extent grow faster itll obviously bit higher extent grow slower well take longterm youre going see overall reduction sales marketing youre going see increase bottom line thatll moderated somewhat fast able grow company overall aaron rakers wells fargo managing director technology analyst fair enough thank operator next question wamsi mohan bank america merrill lynch wamsi mohan bank america merrill lynch equity research analyst yes thank step back look pace growth flash revenues across lenders handouts guys pure netapp address think netapp growing much faster larger revenue base footprint selling installbase got something pricing would love get thoughts around follow charles giancarlo chief executive officer look think netapp obviously great quarter hats george entire team ill remind overall basis total company basis growing much much faster large installbase simply replacing existing environment flash going produce flash revenues look much greater overall growth basis much higher expect continue think single storage market point time think looking companies total revenue perspective wamsi mohan bank america merrill lynch equity research analyst seeing anything pricing dynamic surprised market past quarter charles giancarlo chief executive officer would say weve seen significant changes overall pricing market course every single deal tough competition standpoint significant movement pricing quarter wamsi mohan bank america merrill lynch equity research analyst could ask one last one mentioned sales rampd hires quite significant course past year give us sense specifically sales hires focused either wheretogo markets whichever way youd like perhaps characterize regionally david hatfield president hey wamsi hat thanks question evenly distributing across globe thrilled performance international three theaters produced nicely see productivity capacity coming along nicely also continuing see latest cohorts classes producing highest productivity levels record long continue see kinds forwardlooking metrics going continue invest sales marketing wamsi mohan bank america merrill lynch equity research analyst great thanks lot operator next question katy huberty morgan stanley katy huberty morgan stanley managing director research thank good afternoon charlie first question think three growth factors laid require expand product portfolio future perhaps even adjacent markets storage current product portfolio allow go achieve goals maybe answer context rampd growth thats materially lower justreported quarter versus growing line year ago charles giancarlo chief executive officer oh katy thank much question know think answers really katy first existing product line allows us continue expand markets technology advances constantly lot product lines allow us expand even faster markets believe differentiated business model characterized higher rate rampd spend many competitors market focused future ill let tim answer question rampd spend longterm basis really see something going continue invest anomaly quarter tim riitters chief financial officer yeah quarteronquarter katy rampd basis obviously leverage quarteronquarter revenues growing 25 youre going get natural leverage programs summer tend spike rampd number little bit well going continue invest ad line wouldnt read anything decal qonq katy huberty morgan stanley managing director research okay thanks tim followup would characterize availability pricing ssds quarter whats outlook january extent pricing starts come next year much think helps gross margin tim riitters chief financial officer yeah katy first part question continue comfortable supply rest year next year well know weve watching dynamic quite time managed well continue expect going calendar 2018 terms cost dynamics would say rather think means gross margin always talk midtohigh 60s sweet spot like play weve eight quarters thats way look may pass onto customers go capture markets may put pocket well long stay within range thats whats important us management principal perspective katy huberty morgan stanley managing director research good may one quick tim think normal seasonality april could bring april quarter revenue reported think could remain profitable scenario normal seasonality think sustainability profitability january quarter tim riitters chief financial officer yeah katy naturally guiding next year would take look year obviously q1s going lowest profitability perspective q4 going highest profitability perspective youre thinking modeling thats way would look thing ask seasonality think seasonality bottom line top line know topic last year well start stabilizing overall growth rates talked analyst day 30 cagrs really want take look fullyear revenue growth rate approximating lot quarters well right youre getting stabilization really shouldnt see big differences individual quarters fullyear makes sense katy huberty morgan stanley managing director research thank operator next question mark mosk barclays mark moskovitch barclays equity analyst yes thank good afternoon apologize question already asked dropped second guys talk think profitability cadence fullyear basis thinking calendar 18 obviously exhibiting really good news terms leverage profitable full year calendar 18 guess questions tim question charlie clearly enthusiasm palpable call today across e suite want get sense cloud youve signaled previously aws asher integration opportunities didnt hear much today give us little terms investors could see enthusiasm actually monetized next 12 18 months cloud thank tim riitters chief financial officer mark ill take first question profitability turn charlie second question profitability naturally arent going guide full year next year see seasonality profit number see throughout year youve seen throughout years past would think much way get next year march profitability right fullyear negative low single digits infer moving right direction david hatfield president mark hat ill take winning cloud think key statement explosive growth data fundamental premise theyre going operate multicloud world sensors ai machine learning data thats created machines forecasted 40 50 zetabytes future total internet storage capacity next years fraction called 25 3 zetabytes customers going need operate edge theyre going need operate onprem theyre going need operate public cloud partners built platform enable cloud saas together ias paas nativecloud businesses continue contribute 25 largest cloud scale environments customers theyre big companies lot different use cases youll see us continue work integrating building gotomarket motion future theres really great series conversations going optimistic integrating future mark moskovitch barclays equity analyst thank operator next question steve milunovitch ubs steven milunovich ubs managing director thank charlie youve able dig company bit see room improvements things youve learned large companies bring pure help scale charles giancarlo chief executive officer yeah thanks question mentioned call right movement upmarket think part per se simply natural progression company grows larger customers larger parts environment requires modification selling motion distribution motion marketing motion forth thats part think given multiproduct company way manage multiproduct company changes extent simply fact 2000 people way one needs communicate coordinate throughout company things making modification none things either rocket science newly coined things every company goes level scale goes see something thats straightforward team hungry jumped right steven milunovich ubs managing director thanks wanted ask familiarity arista seem similarities pure arista im sure theres also important differences maybe could talk observations two companies charles giancarlo chief executive officer absolutely similarity companies created deep technologists core really understand technology really understand markets really fighting advancement computing performance technology would say terms differences pure much enterpriseoriented company moment whereas arista cloudoriented one us trying build momentum others segment maybe starting opposite points compass headed toward center steven milunovich ubs managing director thank operator next question jason ader william blair jason ader william blair company analyst yes thank question first hat federal vertical area guys investing feel like winner charlie whats happening win rates deli cm see asher business well checks seem suggest youre seeing displacements big emc accounts comment david hatfield president hey jason hat thanks question yeah investing public sector overall key market charlie mentioned hyper focused cloud businesses nextgeneration use cases large enterprise within large enterprise includes federal agencies well large state local organizations healthcare youll see us talk wins future charles giancarlo chief executive officer right terms win rates id say win rates stable competing deals jason ader william blair company analyst okay thanks much operator next question alex kurtz keybanc capital markets alex kurtz keybanc capital markets managing director hey guys steve enders alex thanks taking question wondering could talk trends youre seeing account rep yields 3q heading 4q know guys arent speaking fiscal 19 yet new class hires expect may affect yields beginning next year david hatfield president hey steve hat ill hit first part maybe tim jump afterwards seeing great productivity continued motion sales capacity perspective latest cohort classes weve brought continue outperforming productive cohorts see great sales capacity think key contributor point view data platform strategy working channel ecosystem contributing nicely think two motions portfolioselling motion together continued focus channel driving creating higher sales yields think continue future tim riitters chief financial officer yeah steve investment philosophy perspective next year obviously guiding historically first half year weve invested notably sales marketing organizations best time get quality sales people looking get trained seasonally stronger second half weve three four years dont anticipate changes term go market next year alex kurtz keybanc capital markets managing director okay want ask guys highlighted analyst day 2 billion revenue goal 2021 wondering anything changed would affect outlook tim riitters chief financial officer continues absolutely longerterm target pass billiondollar number alex kurtz keybanc capital markets managing director great thanks guys operator next question eric martinuzzi lake street eric martinuzzi lake street equity research analyst technology yeah international growth really standout im wondering growing smaller base difference competitive landscape international charles giancarlo chief executive officer yeah eric think seeing capacity coming online making investments international takes time think combination brand awareness sales capacity online channel maturing see continued execution across theaters see nice growth americas well think overall contribution basis anticipate going continue see larger larger contribution nonnorth america markets eric martinuzzi lake street equity research analyst technology okay housekeeping item tim made crystal clear press release missed diluted weighted average share account think last time talked around 237 million shares weve seen pretty substantial increase stock price wondering better number cross adjusted eps profits tim riitters chief financial officer yeah eric id say last quarter profitable would 243 million share count purposes eps purposes creep little bit brand options awards theres table dac shows across various stock prices adjustment would think youre 240 250 range youre probably safe terms think modeling perspective eric martinuzzi lake street equity research analyst technology got thank operator next question jason nolan barrett jason nolan barrett asset management okay thank followup international big deals worth calling gdpr play role strength charles giancarlo chief executive officer yeah significant win large global financial services organization referenced prepared remarks nothing material would really swing see nice penetration enterprise great public sector continued cloud efforts paying markets think believe sustainable jason nolan barrett asset management okay followup software dont know would apply possible future see pure ip white box cloud really something would make sense charles giancarlo chief executive officer im going hand kix matt kixmoeller vice president products look anythings possible obviously solutions powered software software key part valueadd today focused deep integration software hardware ease use overall simplicity also best performance continue look delivery modals well keep everything table consider time jason nolan barrett asset management super thanks guys operator next question simon leopold raymond james simon leopold raymond james financial inc managing director great thanks taking question wanted see could take little bit look fiscal 19 calendar 2018 terms couple aspects first want see could review thoughts seasonality given april quarter usually pretty pronounced sequential decline want make sure page terms think seasonality terms full year want see could revisit commentary gave us nice grid perspective flashblade flash growth leading somewhere 30 range growth want see revisit youre thinking growth outlook full year tim riitters chief financial officer yeah simon ill take fullyear question first well get seasonality within quarters fullyear articulated think back analyst day talked variety different scenarios get us 30 cagr course next handful years think nothings changed terms think business targets executing think youre thinking like company relates quarters made remark earlier qampa stable growth phase company really looking quarter yearonyear basis compare fullyear numbers growth rates else equal really similar right shouldnt see big deltas q1 growth rate q3 growth rate q1 growth rate fullyear growth rate really stable simon leopold raymond james financial inc managing director think looking january quarter youve guided midpoint around 45 yearoveryear growth rate thats well 30 assume youre suggesting think 45 new normal tim riitters chief financial officer yeah naturally simon lapping another year going post billion dollars every time lap year comps obviously get tougher think youre thinking right simon leopold raymond james financial inc managing director great one last big picture could help us understand think addressed market think machine learning artificial intelligence whats opening struggling try think tam expectation know still early metrics could help us frame thank matt kixmoeller vice president products kix ill take one think first thing id say believe big chunk market net new think everyone like struggling understand big thing think weve excited last quarters see grow focused industries like selfdriving cars things nature really seeing starting ai conversations almost every industry highlighted manned hl example call thought great breakthrough types technologies classic financials conversations across wide range industries think something cios look something put innovation dollars toward going huge growth driver theres studies number highlighted call 78 cagr think also hoping see analyst community jump size opportunity simon leopold raymond james financial inc managing director great thank operator next question tim long bmo capital markets tim long bmo capital markets managing director thank yeah two quick ones could first could talk little bit deal sizes growing sounds like win rate similar little bit activity biz youre talk deal sizes youre seeing secondly talk little bit revenues may shift around verticals particularly get cloud customer base think gross operating margins profitability potential different verticals david hatfield president hey tim hat material difference really average deal sizes competing atbats win rates holding improving every competitor getting additional atbats anticipate seeing larger opportunities inside flashblade time becomes equal contributor could influence things right seeing great stability win rates deal sizes seeing atbats things focused charles giancarlo chief executive officer yeah ill talk little bit ill talk margin question relative cloud think way think first mix cloud customers today right financials today see already blend looks like however think cloud gets larger one might see would expect stable operating margins affect operating margin line obviously amount expense amount cost cogs versus amount spent sgampa different would expect affect operating margin tim long bmo capital markets managing director thank operator next question erik suppiger jmp erik suppiger jmp securities senior research analyst yeah thanks taking question first charlie said youre pleased flashblade spite slowing growth rate gives confidence flashblade going slow secondly talked ability leverage sales marketing better going forward see ability really drive operating leverage sales marketing front charles giancarlo chief executive officer right yeah thank question significant number new product introductions past one fast ive ever seen continue identify faster flasharray first year fastgrowing product one quarter youre going see variation new product especially field environment sells multiple products doesnt concern hear customers customers love product quite substantial number pleased plan buying looking see new opportunities bring inside environment getting better spotting best efficient areas sell product theres lot good reasons optimistic product erik suppiger jmp securities senior research analyst sales marketing front charles giancarlo chief executive officer right sorry remember one question time apparently sales marketing front really scale economics b moving larger accounts c efficient channel environment becomes independent selling midmarket also ill say brand recognition improving well makes somewhat easier penetrate new accounts frankly expand inside existing environments think things quite natural growing company like help us really improve overall efficiency sales marketing alignment erik suppiger jmp securities senior research analyst good thank operator next question nehal chokshi maxim group nehal chokshi maxim group enterprise consumer technology senior analyst thanks good quarter especially take account dsos declined ten days year looks like five days typical levels think imply much linear selling quarter question presuming things true fair say linearity like prior years revenue bookings would correspondingly higher tim riitters chief financial officer nehal tim havent historically offered commentary interquarter linearity calls would refer back fact reaccelerated growth 41 growing atscale way billion dollars measures talk publicly obviously put really good quarter nehal chokshi maxim group enterprise consumer technology senior analyst okay thank operator next question edward parker btig edward parker btig senior vice president thanks quick one flashblade piece feedback think us heard partners least enterprise channel sounds like product maybe lacks maturity terms features capabilities enterprises require structure data requirements guess question fair think need add terms capability product become mainstream buy enterprises might expect happen thanks david hatfield president hi edward hat theres two distinct markets flashblade getting stick time first nextgen ai machine learning realtime analytics segment great fit completely differentiated anything else market world think second area replacement legacy going nas object stores actually taking fight netapp really havent focused filebased world firstgeneration product youre going years features going build able hit addressable market great success categories today maybe ill hand kix either commentary matt kixmoeller vice president products yeah said think strategys working set couple years ago made choice say go legacy existing market knew feature game try really build something one seen go nextgen use cases decided go nextgen use cases winning well course features time build abroad whole market operator next question steven fox cross research steven fox cross research managing director yeah thanks couple quick questions top line first tim 41 yearoveryear growth way maybe qualify much came existing customers versus new customer acquisitions deal sizes yearoveryear basis contributing growth average secondly see constraints terms top line tight naand think pretty truedup growth rate given naand supply environment thanks tim riitters chief financial officer yeah steven first part question relative split new customers existing customers stayed healthy number side equation deal sizes question earlier dont talk really lot deal sizes continue hold like see happy well relates naand supply continue manage well good line sight visibility supply constraints something concerns us revenue perspective steven fox cross research managing director thanks much operator last question turn call charlie giancarlo closing comments charles giancarlo chief executive officer well thank thank much joining us today closing solid q3 believe future driven information us pure focused helping customers build better world data momentum remains strong across leading technology portfolio really looking forward strong finish year thank joining us thats end call thank operator concludes todays conference call may disconnect duration 51 minutes matt danziger head investor relations charles giancarlo chief executive officer david hatfield president tim riitters chief financial officer matt kixmoeller vice president products aaron rakers wells fargo managing director technology analyst wamsi mohan bank america merrill lynch equity research analyst katy huberty morgan stanley managing director research mark moskovitch barclays equity analyst steven milunovich ubs managing director jason ader william blair company analyst alex kurtz keybanc capital markets managing director eric martinuzzi lake street equity research analyst technology jason nolan barrett asset management simon leopold raymond james financial inc managing director tim long bmo capital markets managing director erik suppiger jmp securities senior research analyst nehal chokshi maxim group enterprise consumer technology senior analyst edward parker btig senior vice president steven fox cross research managing director pstg analysis opens new window article transcript conference call produced motley fool strive foolish best may errors omissions inaccuracies transcript articles motley fool assume responsibility use content strongly encourage research including listening call reading companys sec filings please see terms conditions opens new window160for additional details including obligatory capitalized disclaimers liability 10 stocks like better pure storagewhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right pure storage wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns november 6 2017 motley fool position stocks mentioned motley fool disclosure policy opens new window | 5,083 |
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<p>Donald Trump has vowed his company will do "no new foreign deals" while he is president. But he's left "new" and "deals" open to interpretation.</p>
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<p>Now those words are drawing scrutiny as his company confirms plans to expand its golf resort near Aberdeen, Scotland, raising concerns about conflicts of interest.</p>
<p>A spokeswoman for the resort says the expansion is not a new deal, but just another construction phase that was included in the broad plan approved by the local government in 2008.</p>
<p>Some lawyers who specialize in government ethics aren't convinced.</p>
<p>Richard Painter, who served as chief ethics lawyer for President George W. Bush, said there are so many pending issues before local governments at each stage of a real estate project, it's like a new deal every time.</p>
<p>"Each phase requires building permits, each phase requires financing, each phase poses additional conflicts of interest," said Painter, a relentless Trump critic who has urged him to sell his company. "Americans don't want their president or any other high ranking official dependent on a foreign government for a building permit."</p>
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<p>The Scottish expansion is especially worrisome, Painter said, because the United States will need to negotiate a trade deal with the United Kingdom now that it has voted to leave the European Union.</p>
<p>"In that context, who is going to deny a permit to the president of the United States?" Painter said.</p>
<p>In addition to its Scottish resort, the Trump Organization has several other uncompleted international projects, including a hotel in Vancouver, British Columbia, a golf course in Dubai and two resorts in Indonesia. His partner in Indonesia, billionaire developer Hary Tanoesoedibjo, plans to attend Trump's inauguration Friday and an official inauguration ball.</p>
<p>The Trump Organization did not respond to requests for comment, except for the brief statement from its resort spokeswoman.</p>
<p>Trump's original 2008 proposal for the resort, the Trump International Golf Links, included plans to eventually add a 450-room hotel, a second golf course, 500 luxury homes and 900 timeshare apartments. A recent article in the Guardian newspaper in Britain cited plans now for about twice the number of homes and timeshare apartments.</p>
<p>Officials at the local government, the Aberdeenshire Council, couldn't confirm the Guardian figures, but did say plans for the second golf course are still under review and have not been approved. A website run by the government shows the Trump Organization has had to undergo many reviews since its 2008 plan was approved, including for small projects, such as erecting a flagpole and building a wall and adding six rooms to a hotel already there.</p>
<p>The resort has had a troubled history.</p>
<p>It's faced fierce opposition from locals, including a fisherman who became a national hero of sorts for refusing a $690,000 offer from Trump to buy his land. Environmentalists protested possible damage to Aberdeen's dramatic dunes overlooking the wind-swept North Sea. A documentary was shot called "Tripping Up Trump."</p>
<p>The pledge of "no new foreign deals" came at Trump's press conference last week in which he unveiled several other steps he would take to allay concerns that he could be tempted to put his private financial interests ahead of the public good.</p>
<p>Sheri Dillon, a lawyer who helped Trump with the conflicts plan, told reporters at the news conference that the steps were "extraordinary." But government ethics lawyers have largely panned the moves. They noted that his company can still strike new domestic deals and argued that much of what was promised is difficult for outsiders to monitor.</p>
<p>The news conference was "full of unanswered questions and malleable commitments that leave the public guessing," said Matthew Sanderson, a former legal adviser to several Republican presidential campaigns.</p>
<p>Sanderson said the Scottish expansion shows that Trump needs to provide more details.</p>
<p>"His conflict situation is extraordinary and only extraordinary levels of transparency can combat the appearance that his new office is enriching him," Sanderson said.</p>
<p>To make questions of possible self-dealing go away, many ethics lawyers have urged Trump to follow the example of past presidents by selling his ownership in his company and putting the cash into a blind trust overseen by an independent manager.</p>
<p>In a public speech last week, Walter Shaub, the director of the Office of Government Ethics, a normally behind-the-scenes agency that advises incoming presidents, urged the president-elect to do just that. He criticized parts of Trump's plan as "meaningless."</p>
<p>Some ethics experts have said a blind trust is impractical given the size and sweep of the president-elect's holdings, which include hotels, resorts, residential towers and commercial buildings in about 20 countries. The view was embraced by Trump's lawyer at the news conference.</p>
<p>"President-elect Trump should not be expected to destroy the company he built," said Dillon, a partner at law firm Morgan, Lewis and Brokius.</p>
<p>Trump has been slimming down his business, though. In recent weeks, the Trump Organization has canceled signed deals and exploratory talks in several countries, including Argentina, Brazil, Azerbaijan and the neighboring country of Georgia.</p>
<p>Kathleen Clark, a former federal ethics lawyer, said the focus on new foreign deals misses the real problem. She said any Trump real estate project — new or existing, foreign or domestic — offers opportunity for government officials, corporate executives and ordinary people to curry favor with the new president. They can approve permits or purchase timeshare units or pay up to become members of his golf clubs.</p>
<p>And she worries that by framing the debate over conflicts so narrowly — What is "new?" What is a "deal?" — the public will quickly tire of Trump's conflicts issue.</p>
<p>"Pinning him down and seeing whether he's living up to his promise will get technical," said Clark, a professor of law at Washington University in St. Louis. "It won't go radioactive. It will seem like a dull issue of technical compliance."</p>
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<p>Koenig reported from Dallas.</p> | true | 0 | donald trump vowed company new foreign deals president hes left new deals open interpretation continue reading words drawing scrutiny company confirms plans expand golf resort near aberdeen scotland raising concerns conflicts interest spokeswoman resort says expansion new deal another construction phase included broad plan approved local government 2008 lawyers specialize government ethics arent convinced richard painter served chief ethics lawyer president george w bush said many pending issues local governments stage real estate project like new deal every time phase requires building permits phase requires financing phase poses additional conflicts interest said painter relentless trump critic urged sell company americans dont want president high ranking official dependent foreign government building permit advertisement scottish expansion especially worrisome painter said united states need negotiate trade deal united kingdom voted leave european union context going deny permit president united states painter said addition scottish resort trump organization several uncompleted international projects including hotel vancouver british columbia golf course dubai two resorts indonesia partner indonesia billionaire developer hary tanoesoedibjo plans attend trumps inauguration friday official inauguration ball trump organization respond requests comment except brief statement resort spokeswoman trumps original 2008 proposal resort trump international golf links included plans eventually add 450room hotel second golf course 500 luxury homes 900 timeshare apartments recent article guardian newspaper britain cited plans twice number homes timeshare apartments officials local government aberdeenshire council couldnt confirm guardian figures say plans second golf course still review approved website run government shows trump organization undergo many reviews since 2008 plan approved including small projects erecting flagpole building wall adding six rooms hotel already resort troubled history faced fierce opposition locals including fisherman became national hero sorts refusing 690000 offer trump buy land environmentalists protested possible damage aberdeens dramatic dunes overlooking windswept north sea documentary shot called tripping trump pledge new foreign deals came trumps press conference last week unveiled several steps would take allay concerns could tempted put private financial interests ahead public good sheri dillon lawyer helped trump conflicts plan told reporters news conference steps extraordinary government ethics lawyers largely panned moves noted company still strike new domestic deals argued much promised difficult outsiders monitor news conference full unanswered questions malleable commitments leave public guessing said matthew sanderson former legal adviser several republican presidential campaigns sanderson said scottish expansion shows trump needs provide details conflict situation extraordinary extraordinary levels transparency combat appearance new office enriching sanderson said make questions possible selfdealing go away many ethics lawyers urged trump follow example past presidents selling ownership company putting cash blind trust overseen independent manager public speech last week walter shaub director office government ethics normally behindthescenes agency advises incoming presidents urged presidentelect criticized parts trumps plan meaningless ethics experts said blind trust impractical given size sweep presidentelects holdings include hotels resorts residential towers commercial buildings 20 countries view embraced trumps lawyer news conference presidentelect trump expected destroy company built said dillon partner law firm morgan lewis brokius trump slimming business though recent weeks trump organization canceled signed deals exploratory talks several countries including argentina brazil azerbaijan neighboring country georgia kathleen clark former federal ethics lawyer said focus new foreign deals misses real problem said trump real estate project new existing foreign domestic offers opportunity government officials corporate executives ordinary people curry favor new president approve permits purchase timeshare units pay become members golf clubs worries framing debate conflicts narrowly new deal public quickly tire trumps conflicts issue pinning seeing whether hes living promise get technical said clark professor law washington university st louis wont go radioactive seem like dull issue technical compliance ____ koenig reported dallas | 593 |
<p>A widening gap between official and market interest rates in China is making it harder for Beijing to use a key policy tool to manage the world's second-largest economy.</p>
<p>Short-term interest rates in China's money market have persistently been above those set by the central bank in the past year, as investors and banks spooked by the government's crackdown on the country's high levels of leverage have charged more to lend both to each other and external borrowers.</p>
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<p>Following a relatively calm summer, the gap has started widening again in the past two months.</p>
<p>The interest rate the People's Bank of China sets on its benchmark seven-day repurchase agreements, its de facto policy rate, has stayed unchanged at 2.45% since March. Meanwhile the corresponding repurchase agreements, or repo, rate that banks charge each other for their own seven-day loans, has risen to 2.93%, from 2.57% just before the PBOC's last rate increase in March.</p>
<p>In the U.S. and other major Western economies, central banks set their policy rates on similar money-market loans, usually made to major financial institutions. These then feed through to the rest of the economy, indirectly determining the interest rates on deposits, mortgages, corporate loans and bonds.</p>
<p>If market rates persistently stay unhinged from policy rates, as is happening in China now, it can weaken a central bank's ability to effectively convey its monetary policy. For example, if market actors are charging much higher interest rates than the central bank wants, it can slow down the economy.</p>
<p>The rising borrowing costs in China have come against the backdrop of an economy that has been cooling in recent years from its once-breakneck growth rates. Inflation in the country, meanwhile, is relatively tame as well.</p>
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<p>"If you are a bank in China, you don't really know which rate you will be able to borrow at in three months' time. The PBOC is creating unnecessary volatility of funding costs," said Julian Evans-Pritchard, a Singapore-based economist at Capital Economics.</p>
<p>Some observers say China's central bank has in the past tried to keep market interest rates closer to its intended policy rate by actively managing the supply of cash in the financial system. If market interest rates rose too high, for example, it would flood the system with extra cash by way of a daily auction of repo loans--ranging from seven to 28 days in duration--to a select group of large banks and brokerages.</p>
<p>The central bank was particularly active in trying to tame market interest rates in the 12 or so months after October 2015, economists say, when China was reeling from a series of sudden stock market crashes.</p>
<p>That period of stability lasted until September 2016, when Beijing started intensifying efforts to reduce financial risk in the economy. That in turn drove up borrowing costs for small banks and brokerages, which had been borrowing aggressively to speculate on the country's bond market.</p>
<p>The central bank responded to the increase in market rates by raising its official seven-day repo rate in February and March. In a rare statement explaining its decision in March, the central bank said the deviation of market rates from official rates could create "unfair" opportunities for banks to profit from the rate gap.</p>
<p>"In a normal system, the central bank's policy rate ought to be the ceiling of market rates and it would prevent the latter from rising above it by unleashing an unlimited amount of liquidity," said Zhou Hao, a Singapore-based economist at Commerzbank AG.</p>
<p>Economists say the PBOC appears caught in a bind. It is reluctant to raise the official repo rate again due to the strong policy tightening signal such a move carries. Beijing's effort to cut financial risk also doesn't allow it to push rates back down by flooding the markets with liquidity as it did before.</p>
<p>"I do think we've seen a step backward in the way PBOC conducts monetary policy... It's more ambiguous now and it's difficult to judge PBOC's intention just by looking at the movement of interbank rates," said Capital Economics' Mr. Evans-Pritchard.</p>
<p>The widening rate gap has also worsened the anomaly that the PBOC criticized in the March statement: interest-rate arbitrage by banks.</p>
<p>Because only a select group of banks and brokerages have access to PBOC's cheap repo loans, they can easily profit by re-lending those funds to smaller banks, brokerages and fund managers at much higher rates.</p>
<p>A review of third-quarter financial results shows that five of China's top six banks have increased the amount of their repo loans to other money-market participants to varying degrees. China Construction Bank Corp., which was the most aggressive, more than doubled the outstanding value of its repo loans from a year ago to 207.70 billion yuan ($31.43 billion) as of Sept. 30. The Agricultural Bank of China Ltd.'s repo lending jumped by 68% in the same period.</p>
<p>Even smaller banks that don't have access to the PBOC's repo loans can still borrow from fellow banks for seven days at about 2.93% and lend to nonbank institutions at a lucrative 4.04%.</p>
<p>"As long as they use bonds as collateral, we are willing to lend to the likes of brokerages. It's a great business," said a senior executive at a rural bank based in the northeastern city of Dandong.</p>
<p>Write to Shen Hong at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>November 30, 2017 06:26 ET (11:26 GMT)</p> | true | 0 | widening gap official market interest rates china making harder beijing use key policy tool manage worlds secondlargest economy shortterm interest rates chinas money market persistently set central bank past year investors banks spooked governments crackdown countrys high levels leverage charged lend external borrowers continue reading following relatively calm summer gap started widening past two months interest rate peoples bank china sets benchmark sevenday repurchase agreements de facto policy rate stayed unchanged 245 since march meanwhile corresponding repurchase agreements repo rate banks charge sevenday loans risen 293 257 pbocs last rate increase march us major western economies central banks set policy rates similar moneymarket loans usually made major financial institutions feed rest economy indirectly determining interest rates deposits mortgages corporate loans bonds market rates persistently stay unhinged policy rates happening china weaken central banks ability effectively convey monetary policy example market actors charging much higher interest rates central bank wants slow economy rising borrowing costs china come backdrop economy cooling recent years oncebreakneck growth rates inflation country meanwhile relatively tame well advertisement bank china dont really know rate able borrow three months time pboc creating unnecessary volatility funding costs said julian evanspritchard singaporebased economist capital economics observers say chinas central bank past tried keep market interest rates closer intended policy rate actively managing supply cash financial system market interest rates rose high example would flood system extra cash way daily auction repo loansranging seven 28 days durationto select group large banks brokerages central bank particularly active trying tame market interest rates 12 months october 2015 economists say china reeling series sudden stock market crashes period stability lasted september 2016 beijing started intensifying efforts reduce financial risk economy turn drove borrowing costs small banks brokerages borrowing aggressively speculate countrys bond market central bank responded increase market rates raising official sevenday repo rate february march rare statement explaining decision march central bank said deviation market rates official rates could create unfair opportunities banks profit rate gap normal system central banks policy rate ought ceiling market rates would prevent latter rising unleashing unlimited amount liquidity said zhou hao singaporebased economist commerzbank ag economists say pboc appears caught bind reluctant raise official repo rate due strong policy tightening signal move carries beijings effort cut financial risk also doesnt allow push rates back flooding markets liquidity think weve seen step backward way pboc conducts monetary policy ambiguous difficult judge pbocs intention looking movement interbank rates said capital economics mr evanspritchard widening rate gap also worsened anomaly pboc criticized march statement interestrate arbitrage banks select group banks brokerages access pbocs cheap repo loans easily profit relending funds smaller banks brokerages fund managers much higher rates review thirdquarter financial results shows five chinas top six banks increased amount repo loans moneymarket participants varying degrees china construction bank corp aggressive doubled outstanding value repo loans year ago 20770 billion yuan 3143 billion sept 30 agricultural bank china ltds repo lending jumped 68 period even smaller banks dont access pbocs repo loans still borrow fellow banks seven days 293 lend nonbank institutions lucrative 404 long use bonds collateral willing lend likes brokerages great business said senior executive rural bank based northeastern city dandong write shen hong hongshenwsjcom end dow jones newswires november 30 2017 0626 et 1126 gmt | 538 |
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<p>At one point last year, shares of DNA-based vaccine specialist Inovio Pharmaceuticals (NASDAQ: INO) had more than doubled, but development problems cut the biotech stock's gains back to about 26.5% over the past year. Over the same period, shares of Incyte Corp. (NASDAQ: INCY) have risen a healthy 49.6% on the back of several intriguing developments. Both companies have catalysts to look forward to. But which is the better pick right now?</p>
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<p>Image source: Getty Images.</p>
<p>Let's look at the opportunities and challenges these two could face in the quarters ahead. Bear in mind that Incyte is already generating significant revenue, while Inovio won't have a product to launch for perhaps a year at best. With these key differences in mind, let's see how the two biotech stocks measure up.</p>
<p>This biotech has been around in one form or another since 1983, although it's been pursuing DNA-based vaccine technology for about 16 years with little evidence that its technology can work in the real world. Its lead candidate cleared phase 2 testing in July 2014, but Inovio hasn't begun the phase 3 trial necessary to support a potential FDA application.</p>
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<p>Cellectra-3P delivery device image source: Inovio Pharmaceuticals, Inc.</p>
<p>Last year, the FDA pushedInovio's timeline back further by asking for more data aboutthe Cellectra-3P, which is thespecial delivery device for investigational immunotherapy VGX-3100. On the one hand, it's fortunate that the company hadn't begun dosing patients before the regulator announced a potentially disruptive clinical hold. On the other hand, it's troubling to see its most advanced candidate suffer more than two years of setbacks as the company burns through shareholder equity.</p>
<p>Inovio may not have anything to sell yet, but its early clinical-stage pipeline is bursting with vaccine candidates, including headline-grabbing preventives for the Ebola and Zika viruses. In August, it began a 160-patient study of its Zika virus candidate GLS-5700, and top-line data is expected this June. This is an extremely small number of patients for an infectious-disease vaccine trial, but highly positive results could lift the stock this summer.</p>
<p>In the meantime, investors should watch for news that the FDA might allow Inovio to continue, or begin, a pivotal trial with VGX-3100 as a human papillomavirus (HPV) vaccine. While HPV vaccines currently exist, this one is the first to show a reduction in the abnormal cell growths associated with cervical cancer.</p>
<p>If the FDA allows VGX-3100's pivotal trial to continue and eventually gives it a green light, sales of the vaccine could generate perhaps $500 million annually for Inovio. It would also validate the company's DNA-based vaccine technology in the real world, smoothing the road ahead for the rest of its pipeline.</p>
<p>Unlike Inovio, Incyte proved it can successfully advance clinical-stage candidates into the commercial setting when the FDA approved Jakafi for treatment of myelofibrosis. It looks like Geron might have a potential <a href="http://www.fool.com/investing/2016/12/26/4-biotech-stocks-to-buy-in-january.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">competitor Opens a New Window.</a> for this limited indication in clinical trials at the moment, but that hasn't stopped Incyte from estimating that Jakafi'sannual sales will peak at around $2 billion.</p>
<p>Incyte reported total revenue of about $1.02 billion over the past 12 months, and it estimates that 2016 Jakafi sales reached between $815 million to $830 million. While its lead drug might have enough legs to more than double total revenue, a handful of candidates nearing the finish line could expand it much further.</p>
<p>Perhaps the most exciting candidate in Incyte's clinical-stage lineup is epacadostat. The biotech has partnered with Merck to test this candidate in combination with the big pharma's exciting immunotherapy, Keytruda, as a treatment for several common types of cancer. Perhaps the first application for the combination therapy will be as a first-line treatment of advanced-stage melanoma, if results from an ongoing study fall in line with previous observations.</p>
<p>While the epacadostat tests play out, investors can look forward to an FDA review of its application foranother potential blockbuster, submitted in partnership with Eli LIlly. Baricitinib is a once-daily oral therapy that outperformed the world's best-selling drug, injected Humira, in a head-to-head trial treating rheumatoid arthritis. Peak annual sales of the therapy are expected to pass the $2 billion mark if it earns a widely expected approval.</p>
<p>With a recent market cap of just $490.3 million, Inovio stock could rocket upward on news of positive data for its early-stage vaccines, or continuation of VGX-3100's pivotal trial. While the stock has the potential to achieve windfall-level gains, investors will want to keep an eye on its dwindling cash position. The company finished September with about $119.7 million in cash, cash equivalents, and short-term investments. Once it burns through that, it will most likely need to dilute shareholder value with another share offering. The number of outstanding Inovio shares has risen around 5,200% since it began developing DNA-based vaccine technology about 16 years ago.</p>
<p>Image source: Getty Images.</p>
<p>Incyte has a far more solid financial foundation, as well as clear paths to growth in the near term -- and that's why it's not cheap. It recently turned the profitability corner, and the stock is trading at around 147 times trailing earnings. Such a lofty valuation suggests investors are pricing in continued success for Jakafi, plus perhaps a couple wins from its late-stage pipeline.</p>
<p>Despite Incyte's eye-popping price tag, I'd rather take a chance on a biotech with success to boast of and clear growth avenues, rather than the near-certainty of value-diluting equity-raising in Inovio's future. That makes Incyte the better biotech to buy, hands-down.</p>
<p>10 stocks we like better than Incyte When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=b83b55d3-c134-4b61-b0bd-c145e06cd978&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Incyte wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=http%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-dyn%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=b83b55d3-c134-4b61-b0bd-c145e06cd978&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of January 4, 2017</p>
<p><a href="http://my.fool.com/profile/crenauer/info.aspx" type="external">Cory Renauer Opens a New Window.</a> has no position in any stocks mentioned. You can follow Cory on Twitter <a href="https://twitter.com/intent/follow?screen_name=coryrenauer" type="external">@coryrenauer Opens a New Window.</a> or <a href="https://www.linkedin.com/in/coryrenauer" type="external">LinkedIn Opens a New Window.</a> for more biotech investing insight.</p>
<p>The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | one point last year shares dnabased vaccine specialist inovio pharmaceuticals nasdaq ino doubled development problems cut biotech stocks gains back 265 past year period shares incyte corp nasdaq incy risen healthy 496 back several intriguing developments companies catalysts look forward better pick right continue reading image source getty images lets look opportunities challenges two could face quarters ahead bear mind incyte already generating significant revenue inovio wont product launch perhaps year best key differences mind lets see two biotech stocks measure biotech around one form another since 1983 although pursuing dnabased vaccine technology 16 years little evidence technology work real world lead candidate cleared phase 2 testing july 2014 inovio hasnt begun phase 3 trial necessary support potential fda application advertisement cellectra3p delivery device image source inovio pharmaceuticals inc last year fda pushedinovios timeline back asking data aboutthe cellectra3p thespecial delivery device investigational immunotherapy vgx3100 one hand fortunate company hadnt begun dosing patients regulator announced potentially disruptive clinical hold hand troubling see advanced candidate suffer two years setbacks company burns shareholder equity inovio may anything sell yet early clinicalstage pipeline bursting vaccine candidates including headlinegrabbing preventives ebola zika viruses august began 160patient study zika virus candidate gls5700 topline data expected june extremely small number patients infectiousdisease vaccine trial highly positive results could lift stock summer meantime investors watch news fda might allow inovio continue begin pivotal trial vgx3100 human papillomavirus hpv vaccine hpv vaccines currently exist one first show reduction abnormal cell growths associated cervical cancer fda allows vgx3100s pivotal trial continue eventually gives green light sales vaccine could generate perhaps 500 million annually inovio would also validate companys dnabased vaccine technology real world smoothing road ahead rest pipeline unlike inovio incyte proved successfully advance clinicalstage candidates commercial setting fda approved jakafi treatment myelofibrosis looks like geron might potential competitor opens new window limited indication clinical trials moment hasnt stopped incyte estimating jakafisannual sales peak around 2 billion incyte reported total revenue 102 billion past 12 months estimates 2016 jakafi sales reached 815 million 830 million lead drug might enough legs double total revenue handful candidates nearing finish line could expand much perhaps exciting candidate incytes clinicalstage lineup epacadostat biotech partnered merck test candidate combination big pharmas exciting immunotherapy keytruda treatment several common types cancer perhaps first application combination therapy firstline treatment advancedstage melanoma results ongoing study fall line previous observations epacadostat tests play investors look forward fda review application foranother potential blockbuster submitted partnership eli lilly baricitinib oncedaily oral therapy outperformed worlds bestselling drug injected humira headtohead trial treating rheumatoid arthritis peak annual sales therapy expected pass 2 billion mark earns widely expected approval recent market cap 4903 million inovio stock could rocket upward news positive data earlystage vaccines continuation vgx3100s pivotal trial stock potential achieve windfalllevel gains investors want keep eye dwindling cash position company finished september 1197 million cash cash equivalents shortterm investments burns likely need dilute shareholder value another share offering number outstanding inovio shares risen around 5200 since began developing dnabased vaccine technology 16 years ago image source getty images incyte far solid financial foundation well clear paths growth near term thats cheap recently turned profitability corner stock trading around 147 times trailing earnings lofty valuation suggests investors pricing continued success jakafi plus perhaps couple wins latestage pipeline despite incytes eyepopping price tag id rather take chance biotech success boast clear growth avenues rather nearcertainty valuediluting equityraising inovios future makes incyte better biotech buy handsdown 10 stocks like better incyte investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right incyte wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns january 4 2017 cory renauer opens new window position stocks mentioned follow cory twitter coryrenauer opens new window linkedin opens new window biotech investing insight motley fool position stocks mentioned motley fool disclosure policy opens new window | 663 |
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<p>Image source: Wikimedia Commons.</p>
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<p>With the development of smart homes, smart cars, and smart cities, the word "smart" is quickly becoming shorthand for Internet of Things connectivity -- and for good reason. The Internet of Things will enable functionality between seemingly disparate devices and use the resulting data to personalize user experiences and create a truly intelligent technological ecosystem that reshapes consumer and enterprise markets.</p>
<p>With research firm Gartnerestimating that the number of IoT-connected devices will grow 30% in 2016, there's already strong momentum building behind the pending revolution, and certain companies are positioned to see major benefits.</p>
<p>To get a survey of potential IoT winners, we asked three Motley Fool contributors to spotlight a pick for a top Internet of Things stock to invest in. Read on to learn which companies could benefit from the inter-device connectivity trend that will change everything from tech to consumer goods and healthcare.</p>
<p><a href="http://www.fool.com/author/11900/index.aspx?source=iapsitlnk0000003" type="external">Daniel B. Kline Opens a New Window.</a>: In his <a href="http://edge.media-server.com/m/p/p8ovypr6" type="external">keynote address</a> at Deutsche Bank's 2016 Media, Internet, &amp; Telecom Conference on March 8,Verizon CFO Fran Shammo admitted that the wireless phone business was no longer a growth opportunity. But while he doesn't expect to attract a lot more phone customers, he believes strongly that the Internet of Things will bring big opportunity for his company.</p>
<p>"When you think about the growth opportunities around consumption of video in that environment, you think about IoT, and smart cities, and all the applications that are coming which have to run over wireless networks ... there's still a lot of potential growth there," he said.</p>
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<p>Basically, Shammo told the audience that in the next few years, every device will be connected, and that will require network capacity. Because Verizon has invested heavily in network infrastructure, he believes his company should be able to capitalize.</p>
<p>"The network is still how we build our brand ... and we continue to believe the network will be a differentiator for us going forward," he said.</p>
<p>Shammo is right. Verizon may not make IoT devices or even sell them, but it should clean up by selling access to its network. It's the same model phone companies used when the home security business first launched. Alarms required a phone line, albeit a little-used one, and the companies were happy to sell them -- making money as an infrastructure provider.</p>
<p>It may be a an old-school model, but it's an effective one that makes Verizon a de facto IoT player.</p>
<p><a href="http://my.fool.com/profile/timbrugger/info.aspx?source=eptfxblnk0000004" type="external">Tim Brugger Opens a New Window.</a>:Synapticsfollowers may think it's too late to get on board the train. Thanks in part toyet another rumor of a buyout by a China-based investment group earlier this year, the maker of fingerprint sensors, mobile touchscreens, and related technologies isup over20% in value year to date. Why did Synaptics warrant an acquisition offer of $110 a share when it was trading at just $62.05 at the time? Making forays into a key IoT market is a big reason why.</p>
<p>One of the fastest growth areas within IoT, smart cars, may also prove to be the first that enjoys widespread adoption. A recent studysuggests that new-car buyers are more concerned with a car's infotainment system, the technology behind it, and seamless integration with smartphones than actual driving performance. And nearly 40% of the drivers asked said they'd change auto manufacturers if their first choice didn't offer a "smart" infotainment system.</p>
<p>Strange as consumers' changing habits may sound to avid drivers, it's music to the ears of Synaptics shareholders. Synaptics offers a suite of automotive-specific touch, display, and biometric solutions, which are already included in several of the world's largest automakers.</p>
<p>Nearly 90% of Synaptics revenue was mobile-related last quarter, and consumers have spoken: Our cars are quickly becoming the ultimate mobile device, and Synaptics is poised to go along for the ride. Synaptics' forward price-to-earnings ratio of 26 may scare some potential investors, but it shouldn't. Looking even further ahead, Synaptics is trading at a mere 12 times future earnings, and it will continue to grow right along with consumers' love for smart cars.</p>
<p><a href="http://my.fool.com/profile/keithnoonan/info.aspx" type="external">Keith Noonan Opens a New Window.</a>:AT&amp;T has developed a reputation as a low-risk, low-growth stock backed by its strong position in wireless and a great dividend -- and it's true that Big Blue has recently held strong while the broader tech sector has dipped -- but the company's outlook is more exciting than its safe reputation suggests. AT&amp;T is looking to the Internet of Things as a growth avenue that could branch its business into new spaces while also improving its wireless stronghold, and the company could play a formative role in the IoT tech push.</p>
<p>The mobile device will likely be at the center of the Internet of Things transition, and AT&amp;T's wireless networks are on track to see data booms that create new demand for the company's storage, processing, and interface capabilities at the consumer and industrial levels. The company already counts more than 26 million IoT devices connected on its North American networks, and the company is in the midst of developing and testing 5G technologies that will pave the way for the next generation of IoT innovations.</p>
<p>AT&amp;T is partnering with a range of companies, including Ericsson, Intel, and General Electric, to test and expand the IoT capabilities of its networks, and the company is also indicating that its DirecTV wing and related wireless broadband tests have already proved to be assets in developing and rolling out 5G technologies. With estimates that 5G could deliver a hundredfold increase over top 4G speeds and a thousandfold increase in data load, network advances could be the key to the IoT revolution and position AT&amp;T as a major beneficiary of inter-device connectivity.</p>
<p>Priced at just 13 times projections for forward earnings and packing a dividend yield of roughly 5% in addition to a formative position in the big connectivity push, AT&amp;T looks to be a top Internet of Things stock.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/03/18/1-stock-for-investing-in-the-internet-of-things.aspx" type="external">1 Stock for Investing in the Internet of Things Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/Dankline/info.aspx?source=eptfxblnk0000004" type="external">Daniel Kline Opens a New Window.</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/keithnoonan/info.aspx?source=eptfxblnk0000004" type="external">Keith Noonan Opens a New Window.</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/timbrugger/info.aspx?source=eptfxblnk0000004" type="external">Tim Brugger</a> has no position in any stocks mentioned. The Motley Fool owns shares of General Electric Company. The Motley Fool recommends Gartner, Intel, and Verizon Communications. Try any of our Foolish newsletter services <a href="http://www.fool.com/shop/newsletters/index.aspx?source=eptfxblnk0000004" type="external">free for 30 days Opens a New Window.</a>. We Fools may not all hold the same opinions, but we all believe that <a href="http://wiki.fool.com/Motley?source=eptfxblnk0000004" type="external">considering a diverse range of insights Opens a New Window.</a> makes us better investors. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?source=eptfxblnk0000004" type="external">disclosure policy Opens a New Window.</a>.</p>
<p>Copyright 1995 - 2016 The Motley Fool, LLC. All rights reserved. The Motley Fool has a <a href="http://www.fool.com/help/index.htm?display=about02" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source wikimedia commons continue reading development smart homes smart cars smart cities word smart quickly becoming shorthand internet things connectivity good reason internet things enable functionality seemingly disparate devices use resulting data personalize user experiences create truly intelligent technological ecosystem reshapes consumer enterprise markets research firm gartnerestimating number iotconnected devices grow 30 2016 theres already strong momentum building behind pending revolution certain companies positioned see major benefits get survey potential iot winners asked three motley fool contributors spotlight pick top internet things stock invest read learn companies could benefit interdevice connectivity trend change everything tech consumer goods healthcare daniel b kline opens new window keynote address deutsche banks 2016 media internet amp telecom conference march 8verizon cfo fran shammo admitted wireless phone business longer growth opportunity doesnt expect attract lot phone customers believes strongly internet things bring big opportunity company think growth opportunities around consumption video environment think iot smart cities applications coming run wireless networks theres still lot potential growth said advertisement basically shammo told audience next years every device connected require network capacity verizon invested heavily network infrastructure believes company able capitalize network still build brand continue believe network differentiator us going forward said shammo right verizon may make iot devices even sell clean selling access network model phone companies used home security business first launched alarms required phone line albeit littleused one companies happy sell making money infrastructure provider may oldschool model effective one makes verizon de facto iot player tim brugger opens new windowsynapticsfollowers may think late get board train thanks part toyet another rumor buyout chinabased investment group earlier year maker fingerprint sensors mobile touchscreens related technologies isup over20 value year date synaptics warrant acquisition offer 110 share trading 6205 time making forays key iot market big reason one fastest growth areas within iot smart cars may also prove first enjoys widespread adoption recent studysuggests newcar buyers concerned cars infotainment system technology behind seamless integration smartphones actual driving performance nearly 40 drivers asked said theyd change auto manufacturers first choice didnt offer smart infotainment system strange consumers changing habits may sound avid drivers music ears synaptics shareholders synaptics offers suite automotivespecific touch display biometric solutions already included several worlds largest automakers nearly 90 synaptics revenue mobilerelated last quarter consumers spoken cars quickly becoming ultimate mobile device synaptics poised go along ride synaptics forward pricetoearnings ratio 26 may scare potential investors shouldnt looking even ahead synaptics trading mere 12 times future earnings continue grow right along consumers love smart cars keith noonan opens new windowatampt developed reputation lowrisk lowgrowth stock backed strong position wireless great dividend true big blue recently held strong broader tech sector dipped companys outlook exciting safe reputation suggests atampt looking internet things growth avenue could branch business new spaces also improving wireless stronghold company could play formative role iot tech push mobile device likely center internet things transition atampts wireless networks track see data booms create new demand companys storage processing interface capabilities consumer industrial levels company already counts 26 million iot devices connected north american networks company midst developing testing 5g technologies pave way next generation iot innovations atampt partnering range companies including ericsson intel general electric test expand iot capabilities networks company also indicating directv wing related wireless broadband tests already proved assets developing rolling 5g technologies estimates 5g could deliver hundredfold increase top 4g speeds thousandfold increase data load network advances could key iot revolution position atampt major beneficiary interdevice connectivity priced 13 times projections forward earnings packing dividend yield roughly 5 addition formative position big connectivity push atampt looks top internet things stock article 1 stock investing internet things opens new window originally appeared foolcom daniel kline opens new window position stocks mentioned keith noonan opens new window position stocks mentioned tim brugger position stocks mentioned motley fool owns shares general electric company motley fool recommends gartner intel verizon communications try foolish newsletter services free 30 days opens new window fools may hold opinions believe considering diverse range insights opens new window makes us better investors motley fool disclosure policy opens new window copyright 1995 2016 motley fool llc rights reserved motley fool disclosure policy opens new window | 691 |
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<p>RELATED STORY: <a href="" type="internal">Faith, Works and the Judgment Seat of Christ</a></p>
<p>"My sheep hear my voice, and I know them, and they follow me: And I give unto them eternal life; and they shall never perish, neither shall any man pluck them out of my hand. My Father, which gave them me, is greater than all; and no man is able to pluck them out of my Father's hand. I and my Father are one. " <a href="http://www.blueletterbible.org/Bible.cfm?b=Col" type="external">John 10:27-30</a> We are kept by the power of His blood, and not by our own works, good deeds, or our own righteousness. "Now the just shall live by faith: but if any man draw back, my soul shall have no pleasure in him. But we are not of them who draw back unto perdition; but of them that believe to the saving of the soul." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Hbr&amp;c=10&amp;v=1&amp;x=0&amp;y=0" type="external">Hebrews 10:38,39</a></p>
<p>In Christian circles, the topic of eternal security is a hotly-debated subject. But we are not so much interested in man's opinion as we are in what the bible has to say about Eternal Security. So any sincere treatise on eternal security must first start with a look at salvation, and how it is accomplished. <a href="javascript:;" type="external" /></p>
<p>Believe on the Lord Jesus Christ, and you shall be saved</p>
<p>The Lord is gracious, and good to us, much better than we deserve. He is so good to us, that He made sure to make the process by which one is saved unbelievably simple to understand, and simple to do. As I read my bible, I see that there is one thing and one thing only that one must do to be saved, as shown here in Acts 16:</p>
<p>"And brought them out, and said, Sirs, what must I do to be saved? And they said, Believe on the Lord Jesus Christ, and thou shalt be saved, and thy house." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Act&amp;c=16&amp;v=1&amp;x=0&amp;y=0" type="external">Acts 16:30,31</a></p>
<p>That's truly all there is to it - an honest and sincere belief within yourself that Jesus is who He said He is, that He is THE Way, THE Truth and THE Life. It's not complicated, and God purposely set it up that way to make it easy for us. All the work of salvation was done by Jesus Himself. He took upon Himself the punishment for our sins as well as the sins themselves, and went to ther cross and paid for every sin that would ever be committed throughout history. And when you, by faith, BELIEVE that sincerely in your heart, then the price He paid is applied to YOUR sin debt, and your salvation is secured forever. In fact, the bible says that you are not simply secure, but also "sealed" until the Day of redemption.</p>
<p>You are eternally secure because you have beem sealed at salvation</p>
<p>"That we should be to the praise of his glory, who first trusted in Christ. In whom ye also [trusted], after that ye heard the word of truth, the gospel of your salvation: in whom also after that ye believed, ye were sealed with that holy Spirit of promise, Which is the earnest of our inheritance until the redemption of the purchased possession, unto the praise of his glory." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Eph&amp;c=1&amp;v=1&amp;x=0&amp;y=0" type="external">Ephesians 1:12-14</a> Dear one, you are not kept saved because of your good works, or because you read your bible, or because you're nice to people, or anything else. You are saved and sealed by the works of Jesus on the cross and His resurrection, and by the power of the Holy Spirit. This makes sense as you did nothing to earn your salvation, so why would you think you could do anything to keep it? Jesus is the Good Shepard, and as such the responsibilty to keep all the sheep safe are His, not the sheep's. The whole reason why sheep need a Shepard is because they cannot do it themselves.</p>
<p>Forever Safe in the Master's Hands One of the strongest passages for eternal security is found in the gospel of John, chapter 10, where we read this -</p>
<p>"I am the good shepherd, and know my [sheep], and am known of mine. As the Father knoweth me, even so know I the Father: and I lay down my life for the sheep. My sheep hear my voice, and I know them, and they follow me: And I give unto them eternal life; and they shall never perish, neither shall any [man] pluck them out of my hand. My Father, which gave [them] me, is greater than all; and no [man] is able to pluck [them] out of my Father's hand. I and [my] Father are one." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Jhn&amp;c=10&amp;v=1&amp;x=0&amp;y=0" type="external">John 10</a></p>
<p>Please go back and reread that passage selection, and let His words and promise to keep to safe eternally sink down deep into your ears, and into your hearts. Jesus promises here that once you are in His Hand, nothing, nothing, nothing anyone can do can put you out of it. He says that "neither shall ANY" take you out. Thats everyone. That includes all external forces like the world, the flesh and the Devil, and internal forces like ourselves. Now if your church teaches something different, don't get mad at us. We are just going by what the bible says. And not only are we safe in the hands of God eternally, we are more than just "in his hand", we are also part of His body.</p>
<p>"For we are members of his body, of his flesh, and of his bones. For this cause shall a man leave his father and mother, and shall be joined unto his wife, and they two shall be one flesh. This is a great mystery: but I speak concerning Christ and the church." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Eph&amp;c=5&amp;v=1&amp;x=0&amp;y=0" type="external">Ephesians 5:30-32</a></p>
<p>That is the state of the true believer in Jesus Christ, that we are part of His flesh, a part of His bones. He is not only holding us in His hands, we are grafted into His very body. Nothing exists in this universe or any other that is capable of undoing that. You think you can sin your way out? How? ALL your sins are already paid for at Calvary. All of them. But there is one thing that you can lose, and that is fellowship with our Lord.</p>
<p />
<p>Sealed Until The Day Of Redemption When we become saved, there is also another action that takes place that many Christians who do not study their bible may not be aware of. The sealing of the believer so that they can never fall away. Please note the following verses that discuss the sealing of the believer:</p>
<p>"In whom ye also trusted, after that ye heard the word of truth, the gospel of your salvation: in whom also after that ye believed, ye were sealed with that holy Spirit of promise, Which is the earnest of our inheritance until the redemption of the purchased possession, unto the praise of his glory." Ephesians 1:13,14</p>
<p>"And grieve not the holy Spirit of God, whereby ye are sealed unto the day of redemption." Ephesians 4:30</p>
<p>"For all the promises of God in him are yea, and in him Amen, unto the glory of God by us. Now he which stablisheth us with you in Christ, and hath anointed us, is God; Who hath also sealed us, and given the earnest of the Spirit in our hearts." 2 Corinthians 1:20-22</p>
<p>Read those verse very carefully, can you see that you are sealed? Remember when Noah and his family got into the ark, what did God do? He sealed them in so they couldn't change their mind once the journey got rough. And it got very rough.</p>
<p>Thats how much God loves us, He has given us a complete salvation. Not a salvation that is part His works and part your works. Thats not biblical salvation by a long shot.</p>
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<p>Fellowship and the Judgement Seat of Christ</p>
<p>Scoffers who disallow the eternal security that the bible clearly teaches mockingly say that the doctrine of eternal security is a license to sin, and that is completely untrue. Eternal security is a promise from God to keep those that are His, and as such it is a great comfort to all true believers. But a license to sin? God forbid. If the Christian backslides and becomes a prodigal son, there is something that they absolutely lose for a time, and that is felllowship with the Lord. Note the following onthe prodigal son -</p>
<p>"And not many days after the younger son gathered all together, and took his journey into a far country, and there wasted his substance with riotous living." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Luk&amp;c=15&amp;v=1&amp;x=0&amp;y=0" type="external">Luke 15:13</a></p>
<p>When the prodigal son took his inheritance and went out to revel in sin, the first thing he had to do was to leave his father's house. The father would not keep him there against his will, that's not love. If you, as a believer in Jesus, backslide and go out into the world, you are free to do so. The son wanted to go join the world, the father whom we can imagine with tears in his eyes, let him go have at it. And Luke goes on to describe the sins that the son fell into. But all the while that the son was engaged in sin, he lost the sweet, intimate fellowship he had with his father. But when did he stop being his father's son? Never.</p>
<p>We all know the story...he spends all his money on booze, whores, nightclubs, dancing and whatever else he could find, until he has nothing. His new-found friends turn on him, he's broke, hungry, and winds up feeding the pigs when all of a sudden he has an idea -</p>
<p>"And when he came to himself, he said, How many hired servants of my father's have bread enough and to spare, and I perish with hunger! I will arise and go to my father, and will say unto him, Father, I have sinned against heaven, and before thee, And am no more worthy to be called thy son: make me as one of thy hired servants." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Luk&amp;c=15&amp;v=1&amp;x=0&amp;y=0" type="external">Luke 15:17-19</a></p>
<p>What's his great idea? To return to where is is truly and eternally loved...in his father's house. So he shakes the dust off and returns at full speed to find his father. And what does he find when he gets back to his father's house? He finds this -</p>
<p>"And he arose, and came to his father. But when he was yet a great way off, his father saw him, and had compassion, and ran, and fell on his neck, and kissed him." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Luk&amp;c=15&amp;v=1&amp;x=0&amp;y=0" type="external">Luke 15:20</a> He ran back to find his father only to discover that the father was already looking for him to return, and when he did come back it was a joyous reunion with a full restoration of fellowship. But he lost a few things along the way. He took his inheritance and wasted it. He lost his testimony. And he lost all that time that he could have been with his father. But he did not lose his position as his father's son, that is eternally secure. Another reason that the true believer in Jesus Christ knows that eternal security is not a license to sin is the Judgment Seat of Christ.</p>
<p>"For we must all appear before the judgment seat of Christ; that every one may receive the things [done] in [his] body, according to that he hath done, whether [it be] good or bad. Knowing therefore the terror of the Lord, we persuade men; but we are made manifest unto God; and I trust also are made manifest in your consciences." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=2Cr&amp;c=5&amp;v=1&amp;x=0&amp;y=0" type="external">2 Corinthians 5:10,11</a></p>
<p>When we stand before the Lord, we will be judged on how we lived our lives, the things we said and the things we did, as it says in Matthew -</p>
<p>"But I say unto you, That every idle word that men shall speak, they shall give account thereof in the day of judgment." <a href="http://www.blueletterbible.org/Bible.cfm?t=KJV&amp;b=Mat&amp;c=12&amp;v=1&amp;x=0&amp;y=0" type="external">Matthew 12:36</a></p>
<p>The bible says that even as saved Christians, we will sin again. But the Christian who falls into a sin is sealed, and while they may lose fellowship with the Lord, like the prodigal they remain sons and daughters of the Father. Charles Spurgeon said it like this -</p>
<p>"When he was yet a great way off, his father saw him." It was not with icy eyes that the father looked on his returning son. Love leaped into them, and as he beheld him, he "had compassion on him"; that is, he felt for him. There was no anger in his heart toward his son; he had nothing but pity for his poor boy, who had got into such a pitiable condition. It was true that it was all his own fault, but that did not come before his father's mind. It was the state that he was in, his poverty, his degradation, that pale face of his so wan with hunger, that touched his father to the quick. And God has compassion on the woes and miseries of men.</p>
<p>They may have brought their troubles on themselves, and they have indeed done so; but nevertheless God has compassion upon them. "It is of the Lord's mercies that we are not consumed, because His compassions fail not." We read that the father "ran." The compassion of God is followed by swift movements. He is slow to anger, but He is quick to bless. He does not take any time to consider how He shall show His love to penitent prodigals; that was all done long ago in the eternal covenant. He has no need to prepare for their return to Him; that was done on Calvary. God comes flying in the greatness of His compassion to help every poor penitent soul." <a href="http://www.spurgeon.org/sermons/2236.htm" type="external">Spurgeon Archive</a></p>
<p>It is the heart's desire of every blood-bought believer in Jesus Christ to live right, think right, do right and be right. But when we fall short, as we all will do to varying degrees, the bible assures and reassures us that our loving, Heavenly Father is waiting for us with kisses, and full restoration to fellowship with Him, if we will only repent of the sin that dragged us down, and run with all abandon back to the Father's house.</p>
<p>There is so much more to teach on this topic, but for now grasp by faith the simple and amazing promise of God towards us to never, ever let us go.</p> RELATED STORY: | true | 0 | 160 related story faith works judgment seat christ sheep hear voice know follow give unto eternal life shall never perish neither shall man pluck hand father gave greater man able pluck fathers hand father one john 102730 kept power blood works good deeds righteousness shall live faith man draw back soul shall pleasure draw back unto perdition believe saving soul hebrews 103839 christian circles topic eternal security hotlydebated subject much interested mans opinion bible say eternal security sincere treatise eternal security must first start look salvation accomplished believe lord jesus christ shall saved lord gracious good us much better deserve good us made sure make process one saved unbelievably simple understand simple read bible see one thing one thing one must saved shown acts 16 brought said sirs must saved said believe lord jesus christ thou shalt saved thy house acts 163031 thats truly honest sincere belief within jesus said way truth life complicated god purposely set way make easy us work salvation done jesus took upon punishment sins well sins went ther cross paid every sin would ever committed throughout history faith believe sincerely heart price paid applied sin debt salvation secured forever fact bible says simply secure also sealed day redemption eternally secure beem sealed salvation praise glory first trusted christ ye also trusted ye heard word truth gospel salvation also ye believed ye sealed holy spirit promise earnest inheritance redemption purchased possession unto praise glory ephesians 11214 dear one kept saved good works read bible youre nice people anything else saved sealed works jesus cross resurrection power holy spirit makes sense nothing earn salvation would think could anything keep jesus good shepard responsibilty keep sheep safe sheeps whole reason sheep need shepard forever safe masters hands one strongest passages eternal security found gospel john chapter 10 read good shepherd know sheep known mine father knoweth even know father lay life sheep sheep hear voice know follow give unto eternal life shall never perish neither shall man pluck hand father gave greater man able pluck fathers hand father one john 10 please go back reread passage selection let words promise keep safe eternally sink deep ears hearts jesus promises hand nothing nothing nothing anyone put says neither shall take thats everyone includes external forces like world flesh devil internal forces like church teaches something different dont get mad us going bible says safe hands god eternally hand also part body members body flesh bones cause shall man leave father mother shall joined unto wife two shall one flesh great mystery speak concerning christ church ephesians 53032 state true believer jesus christ part flesh part bones holding us hands grafted body nothing exists universe capable undoing think sin way sins already paid calvary one thing lose fellowship lord sealed day redemption become saved also another action takes place many christians study bible may aware sealing believer never fall away please note following verses discuss sealing believer ye also trusted ye heard word truth gospel salvation also ye believed ye sealed holy spirit promise earnest inheritance redemption purchased possession unto praise glory ephesians 11314 grieve holy spirit god whereby ye sealed unto day redemption ephesians 430 promises god yea amen unto glory god us stablisheth us christ hath anointed us god hath also sealed us given earnest spirit hearts 2 corinthians 12022 read verse carefully see sealed remember noah family got ark god sealed couldnt change mind journey got rough got rough thats much god loves us given us complete salvation salvation part works part works thats biblical salvation long shot 160 fellowship judgement seat christ scoffers disallow eternal security bible clearly teaches mockingly say doctrine eternal security license sin completely untrue eternal security promise god keep great comfort true believers license sin god forbid christian backslides becomes prodigal son something absolutely lose time felllowship lord note following onthe prodigal son many days younger son gathered together took journey far country wasted substance riotous living luke 1513 prodigal son took inheritance went revel sin first thing leave fathers house father would keep thats love believer jesus backslide go world free son wanted go join world father imagine tears eyes let go luke goes describe sins son fell son engaged sin lost sweet intimate fellowship father stop fathers son never know storyhe spends money booze whores nightclubs dancing whatever else could find nothing newfound friends turn hes broke hungry winds feeding pigs sudden idea came said many hired servants fathers bread enough spare perish hunger arise go father say unto father sinned heaven thee worthy called thy son make one thy hired servants luke 151719 whats great idea return truly eternally lovedin fathers house shakes dust returns full speed find father find gets back fathers house finds arose came father yet great way father saw compassion ran fell neck kissed luke 1520 ran back find father discover father already looking return come back joyous reunion full restoration fellowship lost things along way took inheritance wasted lost testimony lost time could father lose position fathers son eternally secure another reason true believer jesus christ knows eternal security license sin judgment seat christ must appear judgment seat christ every one may receive things done body according hath done whether good bad knowing therefore terror lord persuade men made manifest unto god trust also made manifest consciences 2 corinthians 51011 stand lord judged lived lives things said things says matthew say unto every idle word men shall speak shall give account thereof day judgment matthew 1236 bible says even saved christians sin christian falls sin sealed may lose fellowship lord like prodigal remain sons daughters father charles spurgeon said like yet great way father saw icy eyes father looked returning son love leaped beheld compassion felt anger heart toward son nothing pity poor boy got pitiable condition true fault come fathers mind state poverty degradation pale face wan hunger touched father quick god compassion woes miseries men may brought troubles indeed done nevertheless god compassion upon lords mercies consumed compassions fail read father ran compassion god followed swift movements slow anger quick bless take time consider shall show love penitent prodigals done long ago eternal covenant need prepare return done calvary god comes flying greatness compassion help every poor penitent soul spurgeon archive hearts desire every bloodbought believer jesus christ live right think right right right fall short varying degrees bible assures reassures us loving heavenly father waiting us kisses full restoration fellowship repent sin dragged us run abandon back fathers house much teach topic grasp faith simple amazing promise god towards us never ever let us go related story | 1,096 |
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<p>Lessons from the Japanese earthquake teach that no business is immune to potential disaster. Here's how you can prepare for the worst and survive with the best.</p>
<p>Continue Reading Below</p>
<p>No matter how scant your resources or pressed your schedule, you need to draft a disaster preparedness plan.</p>
<p>Why so dramatic? Because most small- and medium-size businesses (SMBs) don’t make preparedness a priority until they actually suffer a disaster or data loss, according to <a href="" type="internal">Symantec</a>’s 2011 SMB Disaster Preparedness Survey. Yet about 65 percent of SMBs are located in regions susceptible to natural disasters. Nearly six out of 10 small businesses (57 percent) don’t have a plan at all. Less than half of SMBs back up their data weekly or more often.</p>
<p>The median cost of disaster downtime is a whopping $12,500 per day. So if you’re hit by a flood, fire or hurricane, you’ll be bleeding revenue just when you need cash to rebuild.</p>
<p>And that’s just the money. Natural and man-made disasters, which include unthinkable events like 9/11-style attacks or <a href="" type="internal">swine flu</a> pandemics, also can harm or kill employees and customers, generating both tragedies and lawsuits. Some experts estimate that four out of 10 companies that experience a disaster never recover.</p>
<p>Scared enough yet? Here’s how to prepare.</p>
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<p>Start with scenarios and biz needs</p>
<p>“The planning process requires a thorough analysis of the company’s operations, processes and procedures,” says Larry Newell, manager of the risk-services practice at Brown Smith Wallace accountants in St. Louis, Missouri. Basically, identify everything fundamental to serving customers. Then, says Newell, “devise a plan to protect those operations.”</p>
<p>Make sure the business continuity plan is short and clear. No one will read 50 pages of complicated directions. Include specific trigger points that result in assigned tasks or action. So if water starts seeping into the office, Fred knows it’s his job to unplug cords and cables and set computers above the water line.</p>
<p>Like fire drills, disaster drills are a smart idea. “The only way we really know what to do is to practice skills often,” says Dan Weedin, a Seattle-based insurance and risk-management consultant. “It won’t seem mundane when it needs to be used for real.”</p>
<p>Since you can’t predict which critical operations or which essential staff will be out of commission or unavailable, focus on “redundancy” and “flexibility.” In other words, cross-train skills and create several backup scenarios in advance, so if one fails, the other kicks in.</p>
<p>For a sample plan and checklists, see Ready Business, which was created by the Federal Emergency Management Agency to help foster small-business preparedness.</p>
<p>Steps to putting a plan in place</p>
<p>Several areas are critical for keeping a business up and running after a disaster. Of course, each area depends on the others to be effective overall. Here are some of the most important steps you can take:</p>
<p>- Get insurance. Don’t roll the dice. “Meet with your insurance broker to identify your exposure and design an insurance program,” advises Dawn A. Houpt at the Graham Company, a Philadelphia brokerage. Besides appropriate property and casualty policies, also consider business interruption coverage, which replaces lost income. Or, if possible, start setting aside emergency cash reserves. Your business may go several months without income.</p>
<p>- Identify key employees and vital functions. Plan for how you will work around scenarios in which one or more key staff members can’t come to the office or are incapacitated.</p>
<p>- Communicate early and often. Every shop is different, but the objective is simple: Keep everyone in the loop and on the right track in order to reduce anxiety and confusion.</p>
<p>That means maintaining up-to-date contact info for all employees and outside contributors. Put someone in charge of monitoring the contact list. Set up advance guidelines for staying in touch, whether via texting, posts on a microsite or intranet, or a phone tree.</p>
<p>In the immediate aftermath, you’ll need to provide details about the disaster’s effect, what employees must do, whether they need to work from an alternate site (like home), who needs to perform which tasks, and how long all of this might remain in effect. Remember to include independent contractors, accountants, publicists, investors and key vendors. If staff will be scattered in remote locations or working at home, set clear expectations about how and when everyone should be at his or her desk or on call.</p>
<p>- Protect data and information. Back up important records and computer systems in several locations. Keep records updated in case you must verify operating costs and income for disaster agencies, insurance carriers or banks. Consult your IT expert about cost-effective backup solutions and, depending on your industry, maintaining compliance with state or federal regulations. If you’re hanging on to old paper files — lawyers, that means you — recruit some help to scan the works. Now.</p>
<p>- Evaluate IT and remote-work capabilities. Given today’s affordable options in telework and remote access, IT may be the easiest part of a plan. The solutions you deploy or beef up are dictated by your needs, budget and sophistication and may involve VPN ports, webcam videoconferencing, VoIP, cloud computing solutions, and so on. Again, have a detailed chat with the IT staff or a consultant.</p>
<p>- Keep the plan timely. “Update, test and re-evaluate your plan annually,” says Kevin Bremer at ModSpace, a modular-building provider in Berwyn, Pennsylvania. Then periodically check to make sure every employee has an up-to-date version. Keeping the plan on a shelf somewhere won’t help anyone.</p>
<p>Providers put average costs to a small business for a preparedness plan at anywhere from $5,000 to $20,000, depending on what’s in place and what’s required.</p>
<p>That could be the most cost-effective investment you ever make.</p> | true | 0 | lessons japanese earthquake teach business immune potential disaster heres prepare worst survive best continue reading matter scant resources pressed schedule need draft disaster preparedness plan dramatic small mediumsize businesses smbs dont make preparedness priority actually suffer disaster data loss according symantecs 2011 smb disaster preparedness survey yet 65 percent smbs located regions susceptible natural disasters nearly six 10 small businesses 57 percent dont plan less half smbs back data weekly often median cost disaster downtime whopping 12500 per day youre hit flood fire hurricane youll bleeding revenue need cash rebuild thats money natural manmade disasters include unthinkable events like 911style attacks swine flu pandemics also harm kill employees customers generating tragedies lawsuits experts estimate four 10 companies experience disaster never recover scared enough yet heres prepare advertisement start scenarios biz needs planning process requires thorough analysis companys operations processes procedures says larry newell manager riskservices practice brown smith wallace accountants st louis missouri basically identify everything fundamental serving customers says newell devise plan protect operations make sure business continuity plan short clear one read 50 pages complicated directions include specific trigger points result assigned tasks action water starts seeping office fred knows job unplug cords cables set computers water line like fire drills disaster drills smart idea way really know practice skills often says dan weedin seattlebased insurance riskmanagement consultant wont seem mundane needs used real since cant predict critical operations essential staff commission unavailable focus redundancy flexibility words crosstrain skills create several backup scenarios advance one fails kicks sample plan checklists see ready business created federal emergency management agency help foster smallbusiness preparedness steps putting plan place several areas critical keeping business running disaster course area depends others effective overall important steps take get insurance dont roll dice meet insurance broker identify exposure design insurance program advises dawn houpt graham company philadelphia brokerage besides appropriate property casualty policies also consider business interruption coverage replaces lost income possible start setting aside emergency cash reserves business may go several months without income identify key employees vital functions plan work around scenarios one key staff members cant come office incapacitated communicate early often every shop different objective simple keep everyone loop right track order reduce anxiety confusion means maintaining uptodate contact info employees outside contributors put someone charge monitoring contact list set advance guidelines staying touch whether via texting posts microsite intranet phone tree immediate aftermath youll need provide details disasters effect employees must whether need work alternate site like home needs perform tasks long might remain effect remember include independent contractors accountants publicists investors key vendors staff scattered remote locations working home set clear expectations everyone desk call protect data information back important records computer systems several locations keep records updated case must verify operating costs income disaster agencies insurance carriers banks consult expert costeffective backup solutions depending industry maintaining compliance state federal regulations youre hanging old paper files lawyers means recruit help scan works evaluate remotework capabilities given todays affordable options telework remote access may easiest part plan solutions deploy beef dictated needs budget sophistication may involve vpn ports webcam videoconferencing voip cloud computing solutions detailed chat staff consultant keep plan timely update test reevaluate plan annually says kevin bremer modspace modularbuilding provider berwyn pennsylvania periodically check make sure every employee uptodate version keeping plan shelf somewhere wont help anyone providers put average costs small business preparedness plan anywhere 5000 20000 depending whats place whats required could costeffective investment ever make | 571 |
<p>Do you dream of passing along your wealth to your children someday? If so, then you need to fill your portfolio with stocks that can stand the test of time.</p>
<p>So which companies do we think could into brag-worth investments someday? We asked a team of Foolish investors to weigh in, and they picked Netflix (NASDAQ: NFLX), SunPower (NASDAQ: SPWR), and Grubhub (NYSE: GRUB).</p>
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<p><a href="https://my.fool.com/profile/TMFSunLion/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Leo Sun Opens a New Window.</a> (Netflix): Netflix is a <a href="https://www.fool.com/investing/2017/01/25/is-netflix-inc-a-growth-stock-or-a-cult-stock.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">polarizing stock</a>. The bulls believe that its streaming platform is becoming the world's first true international TV network, while the bears claim it's overvalued at 185 times trailing earnings and 82 times forward earnings. Netflix's debt levels are also surging by the billions as it obtains funding for more original shows and movies.</p>
<p>But if we look at the entire streaming market, no platform matches Netflix's reach. Its total paid memberships grew 25% annually to 104 million last quarter, and it now has more international subscribers than domestic ones.</p>
<p>It's producing original content for individual countries instead of merely broadcasting American shows overseas, as many <a href="https://www.fool.com/investing/2017/10/26/fox-warner-and-universal-join-disneys-digital-push.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">bigger media companies Opens a New Window.</a> do. Instead of launching ideas with board meetings, Netflix uses analytics to understand what its viewers watch, and then uses that data to craft new shows or movies that are more likely to succeed.</p>
<p>This next-gen approach is causing a lot of consumers to ditch their cable plans, which offer hundreds of channels of unappealing content. By the time your children grow up, clicking through channels will seem as outdated as adjusting rabbit ears -- and Netflix will have evolved into one of the largest and most forward-thinking media companies on the planet.</p>
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<p>If that happens, Netflix's prices today could seem like a bargain. Therefore, your children will probably be impressed that you invested in the future of TV before traditional pay TV services and content distribution models went belly-up.</p>
<p><a href="http://my.fool.com/profile/TMFFlushDraw/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Travis Hoium Opens a New Window.</a> (SunPower): When your children are older, they'll look back with confusion when we tell them coal and natural gas used to provide electricity to power the grid. A few decades from now, clean, abundant solar energy will take over energy as we know it and potentially <a href="https://www.fool.com/investing/general/2014/11/22/solar-disrupt-energy-industry-ceo-tells.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">provide a majority of the electricity we use to power homes and even our cars</a>.</p>
<p>It's hard to see solar energy's potential, given that solar provides only about 1% of the electricity produced around the world today. But it's the most abundant energy source in the world, with enough solar energy hitting the earth every hour to power <a href="https://www.fool.com/investing/2017/05/27/solar-energys-potential-28-trillion-prize.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">all of our energy needs for an entire year Opens a New Window.</a>.</p>
<p>SunPower is a technology leader in the solar industry, with a large and growing market share in the residential and commercial solar markets and a new high-efficiency product rolling out for the utility-scale market called P-Series and Oasis. Combined, they give SunPower a diverse set of end markets around the world and an efficiency advantage over most of its competitors.</p>
<p>The market hasn't given SunPower much credit for its industry-leading position, in large part because the cutthroat nature of solar in the past decade has made it difficult to generate sustainable profits. But a lot of stocks we brag about started as money-losing endeavors that came to dominate a booming industry. Solar energy has potential that makes revenue in markets like streaming video, hotel booking, and even social media look small, and SunPower has the potential to be one of the biggest winners in the industry over the long term.</p>
<p><a href="http://my.fool.com/profile/TMFTypeoh/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Brian Feroldi Opens a New Window.</a> (Grubhub): Modern consumers are pressed for time like never before. As a result, they're increasingly willing to pay a premium to have enjoyable food brought straight to their door.</p>
<p>To meet that growing need, restaurants everywhere are getting into the food-delivery business. However, they often lack the technical expertise to market to digital-age consumers. As a result, they're increasingly turning to Grubhub for help.</p>
<p>Grubhub is a leading provider of food pick-up and delivery service. More than 75,000 restaurants in over 1,300 U.S. cities are in the company's network, which makes it the go-to place for hungry patrons. In response, restaurants that want in on the action have little choice but to partner with Grubhub. That's creating a double-sided <a href="https://www.fool.com/knowledge-center/what-is-the-network-effect.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">network effect Opens a New Window.</a> that potential competitors will find tough to beat.</p>
<p>What's exciting about Grubhub is that the company has already proved that its economic model works. All of Grubhub's key engagement metrics are moving in the right direction -- active diners, daily average grubs, restaurant count, and so on -- and its financial metrics are <a href="https://www.fool.com/investing/2017/10/28/the-e-commerce-stock-everyones-ignoring.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">following suit Opens a New Window.</a>. Revenue and profit -- yes, profit -- are growing quickly as more users flock to the platform.</p>
<p>Looking ahead, Wall Street expects Grubhub's profits to grow 25% annually over the next five years. While Grubhub's stock is expensive -- shares currently trade for 47 times next year's earnings estimates -- I can't help thinking this stock could turn into a generational investment.</p>
<p>10 stocks we like better than NetflixWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*</p>
<p>David and Tom just revealed what they believe are the <a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=0f2c80a2-a38e-4eb6-b06a-1a6d937e2ffc&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Netflix wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
<p><a href="http://infotron.fool.com/infotrack/click?url=https%3A%2F%2Fwww.fool.com%2Fmms%2Fmark%2Fe-foolcom-sa-bbn-static%3Faid%3D8867%26source%3Disaeditxt0010449%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6312%26ftm_veh%3Dbbn_article_pitch&amp;impression=0f2c80a2-a38e-4eb6-b06a-1a6d937e2ffc&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Click here Opens a New Window.</a> to learn about these picks!</p>
<p>*Stock Advisor returns as of December 4, 2017</p>
<p><a href="http://my.fool.com/profile/TMFTypeoh/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Brian Feroldi Opens a New Window.</a> owns shares of Netflix. <a href="http://my.fool.com/profile/TMFSunLion/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Leo Sun Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/TMFFlushDraw/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Travis Hoium Opens a New Window.</a> owns shares of SunPower. The Motley Fool owns shares of and recommends Netflix. The Motley Fool has a <a href="http://www.fool.com/Legal/fool-disclosure-policy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;referring_guid=24f89c6a-dc2a-11e7-af8c-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | dream passing along wealth children someday need fill portfolio stocks stand test time companies think could bragworth investments someday asked team foolish investors weigh picked netflix nasdaq nflx sunpower nasdaq spwr grubhub nyse grub continue reading leo sun opens new window netflix netflix polarizing stock bulls believe streaming platform becoming worlds first true international tv network bears claim overvalued 185 times trailing earnings 82 times forward earnings netflixs debt levels also surging billions obtains funding original shows movies look entire streaming market platform matches netflixs reach total paid memberships grew 25 annually 104 million last quarter international subscribers domestic ones producing original content individual countries instead merely broadcasting american shows overseas many bigger media companies opens new window instead launching ideas board meetings netflix uses analytics understand viewers watch uses data craft new shows movies likely succeed nextgen approach causing lot consumers ditch cable plans offer hundreds channels unappealing content time children grow clicking channels seem outdated adjusting rabbit ears netflix evolved one largest forwardthinking media companies planet advertisement happens netflixs prices today could seem like bargain therefore children probably impressed invested future tv traditional pay tv services content distribution models went bellyup travis hoium opens new window sunpower children older theyll look back confusion tell coal natural gas used provide electricity power grid decades clean abundant solar energy take energy know potentially provide majority electricity use power homes even cars hard see solar energys potential given solar provides 1 electricity produced around world today abundant energy source world enough solar energy hitting earth every hour power energy needs entire year opens new window sunpower technology leader solar industry large growing market share residential commercial solar markets new highefficiency product rolling utilityscale market called pseries oasis combined give sunpower diverse set end markets around world efficiency advantage competitors market hasnt given sunpower much credit industryleading position large part cutthroat nature solar past decade made difficult generate sustainable profits lot stocks brag started moneylosing endeavors came dominate booming industry solar energy potential makes revenue markets like streaming video hotel booking even social media look small sunpower potential one biggest winners industry long term brian feroldi opens new window grubhub modern consumers pressed time like never result theyre increasingly willing pay premium enjoyable food brought straight door meet growing need restaurants everywhere getting fooddelivery business however often lack technical expertise market digitalage consumers result theyre increasingly turning grubhub help grubhub leading provider food pickup delivery service 75000 restaurants 1300 us cities companys network makes goto place hungry patrons response restaurants want action little choice partner grubhub thats creating doublesided network effect opens new window potential competitors find tough beat whats exciting grubhub company already proved economic model works grubhubs key engagement metrics moving right direction active diners daily average grubs restaurant count financial metrics following suit opens new window revenue profit yes profit growing quickly users flock platform looking ahead wall street expects grubhubs profits grow 25 annually next five years grubhubs stock expensive shares currently trade 47 times next years earnings estimates cant help thinking stock could turn generational investment 10 stocks like better netflixwhen investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe 10 best stocks opens new window investors buy right netflix wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns december 4 2017 brian feroldi opens new window owns shares netflix leo sun opens new window position stocks mentioned travis hoium opens new window owns shares sunpower motley fool owns shares recommends netflix motley fool disclosure policy opens new window | 605 |
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<p>RUSH: So the political debate now rages on, and it has reached the usual hysterical proportions as regards to the politics of all of this. I saw today on TV, I glanced up during show prep, and somebody was saying, I was reading the closed-captioning, and somebody was saying in passing, “And the New York Times today has called for the repeal of the Second Amendment.”</p>
<p><a href="https://www.nytimes.com/2017/10/05/opinion/guns-second-amendment-nra.html" type="external" />I said, “What?” I don’t know if they did it in an editorial, but <a href="https://www.nytimes.com/2017/10/05/opinion/guns-second-amendment-nra.html" type="external">there is an op-ed piece by Bret Stephens</a>, noted conservative columnist who moved over to the New York Times from the Wall Street Journal. Remember his first piece almost resulted in him being killed by New York Times readers? He made a reference to global warming as a hoax or something that’s been totally misreported, and the New York Times readership had a collective hissy fit and started questioning why he was even hired. The pooh-bahs at the New York Times had to write excuses and reasons why he’d been hired and tell people they’re interested in an open, free exchange of all kinds of ideas, which isn’t true.</p>
<p>But, yes, he has a piece today, “ <a href="https://www.nytimes.com/2017/10/05/opinion/guns-second-amendment-nra.html" type="external">Repeal the Second Amendment.</a>” It’s not a satire piece, and it’s not a snark piece. He’s simply saying if everything I hear everybody saying about guns is true, there’s only one way to fix this, and that’s to repeal the Second Amendment. What are we talking about here? If you really want to carry this out to its logical conclusion based on what everybody’s saying, including Democrats, you gotta get rid of the Second Amendment.</p>
<p>Now, that isn’t going to happen. And there’s some things in here that are in conflict with some information that we have passed on earlier this week. For instance, the opening of the column. “From a personal-safety standpoint, more guns means less safety. The F.B.I. counted a total of 268 ‘justifiable homicides’ by private citizens involving firearms in 2015; that is, felons killed in the course of committing a felony. Yet that same year, there were 489 ‘unintentional firearms deaths’ in the United States, according to the Centers for Disease Control. Between 77 and 141 of those killed were children.”</p>
<p><a href="http://www.aei.org/publication/chart-of-the-day-more-guns-less-gun-violence-between-1993-and-2013/" type="external" />This is all off the map because I’m reading that there are 33,000 gun deaths every year and that two-thirds of them are suicide. And we have that <a href="http://www.aei.org/publication/chart-of-the-day-more-guns-less-gun-violence-between-1993-and-2013/" type="external">chart that comes from the American Enterprise Institute</a> that tabulates the sale of guns since 1994 and shows that gun sales have increased by 94%. In that same period, homicides by guns — this is not suicides; this is murder. This is what the left thinks happens with every gun death, that it’s a homicide, somebody shoots somebody. Those numbers are down 49%.</p>
<p>I haven’t seen anybody dispute those numbers. They’ve been out there for a while now. AEI, the American Enterprise Institute, is a reputable think tank. So we have a bit of conflicting data here. Stephens’ numbers are nowhere near 33,000 a year that is bandied about, and you need that number if you’re also gonna try to fallaciously claim that there are more gun deaths every year in America and that the total is now greater than all of the deaths that have happened in all of the combined wars in American history.</p>
<p>That’s a stat that we mentioned yesterday that can also be refuted because it’s very misleading. Two-thirds of gun deaths are suicides. They’re not murder; they’re not homicide. And gun control, there’s no new law that would stop that. There’s no new gun regulation that would stop that, which is Stephens’ point. All these little regulations everybody’s talking about, this new law, that new regulation, do that on bump-stocks, don’t do that, he says it’s nothing. Not accomplishing anything except making people think you care. If you’re really serious about this, get rid of the Second Amendment. I think his point is that nobody’s really serious about it.</p>
<p>I think the point he’s trying to make is, “Look, I’m listening to these people, and the only thing that they could possibly really mean, as I listen to them, is get rid of the Second Amendment.” But I don’t think he thinks anybody’s gonna ever do that, although he thinks it’s possible. He thinks it would be possible to get rid of the Second Amendment. Using gay marriage as an analogy, nobody ever thought gay marriage would become the law of the land, and it did. Likewise, nobody ever thinks we’ll get rid of the Second Amendment, but we could, since we legalized gay marriage. That’s his thinking on this.</p>
<p>He cites law enforcement officials who claim that more guns equals less safety. Not according to the numbers that we have been using this week. I have no vested interest in any of this other than accuracy. So if these numbers that AEI is using are not true, I would want to know that, be able to retract them. But I haven’t had anybody refute that. And in fact it makes logical common sense.</p>
<p>What people are trying to say is, the common-sense is the more guns, the more violence; the more guns, the more danger; the more guns, the less safety. Well, that’s what you might logically think, but it may not be the case when talking about homicides. Homicides does not encompass every crime or activity involving the use of a gun, such as suicides, such as accidental firings, such as unintentional firings.</p>
<p>But homicides are a specific area. And when talking about homicides, the number of gun homicides are down almost equal to the number of new guns sold since 1994. He also takes on Jimmy Kimmel here a little bit. He says: “The National Rifle Association does not have Republican ‘balls in a money clip,’ as Jimmy Kimmel put it the other night. The N.R.A. has donated a paltry $3,533,294 to all current members of Congress since 1998, according to The Washington Post.”</p>
<p>By the way, the amount of money donated to Democrats by unions dwarfs the amount of money donated by the NRA to everybody. It isn’t even close, folks. People are calling the NRA a terrorist organization. There are college professors — one of the Sinatra daughters is out there saying the NRA should be lined up and shot by a firing squad. Now, that’s an illustration of the hysteria and how successful it’s been created here.</p>
<p>But Stephens’ point is that the NRA doesn’t need to buy influence; it’s powerful because it’s popular. It doesn’t need to buy all this influence, and the fact that it has doesn’t mean that much. That also is arguable. But this is the paragraph preceding his claim.</p>
<p>“The more closely one looks at what passes for ‘common sense’ gun laws, the more feckless they appear. Americans who claim to be outraged by gun crimes should want to do something more than tinker at the margins of a legal regime that most of the developed world rightly considers nuts. They should want to change it fundamentally and permanently. There is only one way to do this: Repeal the Second Amendment.”</p>
<p>The point is that there’s no serious effort to do this, although I think there is. I think that’s the ultimate aim of the left. It’s like everything else. They just won’t come out and say so. They’re not gonna come out and specify their agenda. They would lose in even bigger numbers than they have been losing in recently. At any rate, Bret Stephens in the New York Times, a conservative columnist, is just one example of the thinking that is out there.</p> | true | 0 | rush political debate rages reached usual hysterical proportions regards politics saw today tv glanced show prep somebody saying reading closedcaptioning somebody saying passing new york times today called repeal second amendment said dont know editorial oped piece bret stephens noted conservative columnist moved new york times wall street journal remember first piece almost resulted killed new york times readers made reference global warming hoax something thats totally misreported new york times readership collective hissy fit started questioning even hired poohbahs new york times write excuses reasons hed hired tell people theyre interested open free exchange kinds ideas isnt true yes piece today repeal second amendment satire piece snark piece hes simply saying everything hear everybody saying guns true theres one way fix thats repeal second amendment talking really want carry logical conclusion based everybodys saying including democrats got ta get rid second amendment isnt going happen theres things conflict information passed earlier week instance opening column personalsafety standpoint guns means less safety fbi counted total 268 justifiable homicides private citizens involving firearms 2015 felons killed course committing felony yet year 489 unintentional firearms deaths united states according centers disease control 77 141 killed children map im reading 33000 gun deaths every year twothirds suicide chart comes american enterprise institute tabulates sale guns since 1994 shows gun sales increased 94 period homicides guns suicides murder left thinks happens every gun death homicide somebody shoots somebody numbers 49 havent seen anybody dispute numbers theyve aei american enterprise institute reputable think tank bit conflicting data stephens numbers nowhere near 33000 year bandied need number youre also gon na try fallaciously claim gun deaths every year america total greater deaths happened combined wars american history thats stat mentioned yesterday also refuted misleading twothirds gun deaths suicides theyre murder theyre homicide gun control theres new law would stop theres new gun regulation would stop stephens point little regulations everybodys talking new law new regulation bumpstocks dont says nothing accomplishing anything except making people think care youre really serious get rid second amendment think point nobodys really serious think point hes trying make look im listening people thing could possibly really mean listen get rid second amendment dont think thinks anybodys gon na ever although thinks possible thinks would possible get rid second amendment using gay marriage analogy nobody ever thought gay marriage would become law land likewise nobody ever thinks well get rid second amendment could since legalized gay marriage thats thinking cites law enforcement officials claim guns equals less safety according numbers using week vested interest accuracy numbers aei using true would want know able retract havent anybody refute fact makes logical common sense people trying say commonsense guns violence guns danger guns less safety well thats might logically think may case talking homicides homicides encompass every crime activity involving use gun suicides accidental firings unintentional firings homicides specific area talking homicides number gun homicides almost equal number new guns sold since 1994 also takes jimmy kimmel little bit says national rifle association republican balls money clip jimmy kimmel put night nra donated paltry 3533294 current members congress since 1998 according washington post way amount money donated democrats unions dwarfs amount money donated nra everybody isnt even close folks people calling nra terrorist organization college professors one sinatra daughters saying nra lined shot firing squad thats illustration hysteria successful created stephens point nra doesnt need buy influence powerful popular doesnt need buy influence fact doesnt mean much also arguable paragraph preceding claim closely one looks passes common sense gun laws feckless appear americans claim outraged gun crimes want something tinker margins legal regime developed world rightly considers nuts want change fundamentally permanently one way repeal second amendment point theres serious effort although think think thats ultimate aim left like everything else wont come say theyre gon na come specify agenda would lose even bigger numbers losing recently rate bret stephens new york times conservative columnist one example thinking | 654 |
<p>Kentucky coal miners&#160;bled and died to unionize.</p>
<p>Their workplaces became war zones, and gun battles once punctuated union protests. In past decades, organizers have been beaten, stabbed and shot while seeking better pay and safer conditions deep underground.</p>
<p>Continue Reading Below</p>
<p>But more recently the United Mine Workers in Kentucky have been in retreat, dwindling like the black seams of coal in the Appalachian mountains.</p>
<p>And now the last union mine in Kentucky has been shut down.</p>
<p>"A lot of people right now who don't know what the (union) stands for is getting good wages and benefits because of the sacrifice that we made," said Kenny Johnson, a retired union miner who was arrested during the Brookside strike in Harlan County in the 1970s. "Because when we went on those long strikes, it wasn't because we wanted to be out of work."</p>
<p>Hard-fought gains are taken for granted by younger workers who earn high wages now, leading the coal industry to argue that the union ultimately rendered itself obsolete. But union leaders and retirees counter that anti-union operators, tightening environmental regulations and a turbulent coal market hastened the union's demise in Kentucky.</p>
<p>The union era's death knell sounded in Kentucky on New Year's Eve, when Patriot Coal announced the closing of its Highland Mine. The underground mine in western Kentucky employed about 400 hourly workers represented by the United Mine Workers of America.</p>
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<p>For the first time in about a century, in the state that was home to the gun battles of "Bloody Harlan," not a single working miner belongs to a union. That has left a bad taste in the mouths of retirees: men like Charles Dixon, who heard the sputter of machine gun fire and bullets piercing his trailer in Pike County during a long strike with the A.T. Massey Coal Company in 1984 and 1985.</p>
<p>"I had my house shot up during that strike," said Dixon, the United Mine Workers local president at the time. "I was just laying in bed and next thing you know you hear a big AR-15 unloading on it. Coal miners had it tough buddy, they sure have."</p>
<p>The shots fired at Dixon's home recall the even deadlier organizing battles of the 1920s and '30s, many in Harlan County.</p>
<p>One ambush shooting in 1937 ended with the death of union organizer Marshall Musick's 14-year-old son, Bennett, when "a shower of bullets tore through the walls of the house," according to union leader George Titler's book, "Hell in Harlan."</p>
<p>Organizing battles raged in Appalachia throughout the last century, most notably the 1921 Battle of Blair Mountain in West Virginia, where thousands of striking miners fought a shooting war with law enforcement and replacement workers, ending in dozens of deaths. One year earlier, 10 people had died in Matewan, West Virginia, in a skirmish over eviction notices served to miners who had joined the union.</p>
<p>In Harlan County, Kentucky, the 1931 Battle of Evarts ended in four deaths. More recently, the strife of the mid-1970s Brookside mining strike here was captured in the Academy Award-winning documentary, "Harlan County U.S.A."</p>
<p>Johnson, who appeared in the film when he was 22 years old, returned this summer to the scene of his first picket line arrest along state Highway 38 in Harlan County.</p>
<p>He had stood there, near the Highsplint mine entrance, with other union members and gasped as state troopers set up a machine gun across the street. After about four hours of noisy picketing, a tall trooper stuck a baton between Johnson's legs and raised it up to his groin.</p>
<p>"We just came to lend them a hand that day, and ended up going to jail," said Johnson, now 63 and battling health issues.</p>
<p>Johnson, Dixon and union leaders worry that the union's disappearance in Kentucky has opened the door for coal operators to lower worker standards.</p>
<p>"When the coal industry rebounds to the extent that it does, and non-union operators take a look around and see that there's no union competition, and they'll see that they can begin to cut wages, they can begin to cut benefits, they can begin to cut corners on safety, they'll do that," said Phil Smith, a national spokesman for the miner's union.</p>
<p>Smith pointed to operations run by former Massey Energy chief Don Blankenship, who closed union mines in the 1980s and now faces criminal conspiracy charges in the 2010 deadly explosion at the Upper Big Branch mine in West Virginia that killed 29 workers.</p>
<p>But industry leaders argue that higher wages and safer mines in recent decades have reduced the desire for workers at non-union mines to organize.</p>
<p>"Anymore, I just don't think there's that level of discontent between the company and working coal miners, which I think is a very good thing," said Bill Bissett, president of the Kentucky Coal Association, an industry group. "If anything, they've won, which I think they've worked themselves out of a job, in that respect."</p>
<p>Bissett said mines have become safer despite the union's diminished presence in Kentucky.</p>
<p>"We're in some of the safest time in the history of U.S. mining right now and a time when the UMWA is at their lowest level," he said.</p>
<p>More vigorous federal enforcement and the closing of older Appalachian mines in a turbulent coal market have also contributed to declining injuries and deaths.</p>
<p>Union membership remains substantial in West Virginia, with more than 30,000 members, largely because that state wasn't affected by the environmental regulations on high-sulfur coal that essentially halted mining in western Kentucky in the 1990s. Smith said those western Kentucky mine shutdowns led to the loss of about 20,000 union members in two years.</p>
<p>Patriot Coal cited the slumping market when it told workers the Highland Mine had to close.</p>
<p>"You could've heard a pin drop," said mine worker Scottie Sizemore.</p>
<p>A safety officer at Highland for just a few months, Sizemore had left another coal job and his family behind in Harlan County, 300 miles away.</p>
<p>Union miners at the Highland mine were making about $24 an hour and working four 10-hour shifts a week. Workers at non-union mines typically work long shifts six days a week, and benefits vary from mine to mine. Sizemore, who was not in the union at Patriot, has since moved back to Harlan County to work for a smaller mining company. He took a hefty pay cut.</p>
<p>Wages were less of a priority than safety during the Brookside strike of the 1970s. Organizers were pushing the mine's owner, Eastover Coal Company, to sign a contract establishing a United Mine Workers local there.</p>
<p>Returning to the scene of his arrest four decades ago, Kenny Johnson looked past a small bridge that leads to a mining operation. Coal is still being mined there today, just not by union miners.</p>
<p>Johnson recalled the hard lessons he took from that clash.</p>
<p>"I realized that day that it was very serious and that people would fight you, even to the point of having you put in jail for standing up for some of the ideals that coal miners hold dear," he said.</p>
<p>As he spoke, a young, burly miner drove across the bridge, smudges of coal dust on his face. He angled his truck across, a few feet away from where Johnson was standing.</p>
<p>As he accelerated away, a cloud of dust kicked up behind him.</p> | true | 0 | kentucky coal miners160bled died unionize workplaces became war zones gun battles punctuated union protests past decades organizers beaten stabbed shot seeking better pay safer conditions deep underground continue reading recently united mine workers kentucky retreat dwindling like black seams coal appalachian mountains last union mine kentucky shut lot people right dont know union stands getting good wages benefits sacrifice made said kenny johnson retired union miner arrested brookside strike harlan county 1970s went long strikes wasnt wanted work hardfought gains taken granted younger workers earn high wages leading coal industry argue union ultimately rendered obsolete union leaders retirees counter antiunion operators tightening environmental regulations turbulent coal market hastened unions demise kentucky union eras death knell sounded kentucky new years eve patriot coal announced closing highland mine underground mine western kentucky employed 400 hourly workers represented united mine workers america advertisement first time century state home gun battles bloody harlan single working miner belongs union left bad taste mouths retirees men like charles dixon heard sputter machine gun fire bullets piercing trailer pike county long strike massey coal company 1984 1985 house shot strike said dixon united mine workers local president time laying bed next thing know hear big ar15 unloading coal miners tough buddy sure shots fired dixons home recall even deadlier organizing battles 1920s 30s many harlan county one ambush shooting 1937 ended death union organizer marshall musicks 14yearold son bennett shower bullets tore walls house according union leader george titlers book hell harlan organizing battles raged appalachia throughout last century notably 1921 battle blair mountain west virginia thousands striking miners fought shooting war law enforcement replacement workers ending dozens deaths one year earlier 10 people died matewan west virginia skirmish eviction notices served miners joined union harlan county kentucky 1931 battle evarts ended four deaths recently strife mid1970s brookside mining strike captured academy awardwinning documentary harlan county usa johnson appeared film 22 years old returned summer scene first picket line arrest along state highway 38 harlan county stood near highsplint mine entrance union members gasped state troopers set machine gun across street four hours noisy picketing tall trooper stuck baton johnsons legs raised groin came lend hand day ended going jail said johnson 63 battling health issues johnson dixon union leaders worry unions disappearance kentucky opened door coal operators lower worker standards coal industry rebounds extent nonunion operators take look around see theres union competition theyll see begin cut wages begin cut benefits begin cut corners safety theyll said phil smith national spokesman miners union smith pointed operations run former massey energy chief blankenship closed union mines 1980s faces criminal conspiracy charges 2010 deadly explosion upper big branch mine west virginia killed 29 workers industry leaders argue higher wages safer mines recent decades reduced desire workers nonunion mines organize anymore dont think theres level discontent company working coal miners think good thing said bill bissett president kentucky coal association industry group anything theyve think theyve worked job respect bissett said mines become safer despite unions diminished presence kentucky safest time history us mining right time umwa lowest level said vigorous federal enforcement closing older appalachian mines turbulent coal market also contributed declining injuries deaths union membership remains substantial west virginia 30000 members largely state wasnt affected environmental regulations highsulfur coal essentially halted mining western kentucky 1990s smith said western kentucky mine shutdowns led loss 20000 union members two years patriot coal cited slumping market told workers highland mine close couldve heard pin drop said mine worker scottie sizemore safety officer highland months sizemore left another coal job family behind harlan county 300 miles away union miners highland mine making 24 hour working four 10hour shifts week workers nonunion mines typically work long shifts six days week benefits vary mine mine sizemore union patriot since moved back harlan county work smaller mining company took hefty pay cut wages less priority safety brookside strike 1970s organizers pushing mines owner eastover coal company sign contract establishing united mine workers local returning scene arrest four decades ago kenny johnson looked past small bridge leads mining operation coal still mined today union miners johnson recalled hard lessons took clash realized day serious people would fight even point put jail standing ideals coal miners hold dear said spoke young burly miner drove across bridge smudges coal dust face angled truck across feet away johnson standing accelerated away cloud dust kicked behind | 727 |
<p>About $1 billion in loans under a U.N. initiative for poor countries to tackle global warming is going toward the construction of power plants fired by coal, the biggest human source of carbon pollution.</p>
<p>Japan gave the money to help its companies build three such plants in Indonesia and listed it with the United Nations as climate finance, The Associated Press has found. Japan says these plants burn coal more efficiently and are therefore cleaner than old coal plants.</p>
<p>Continue Reading Below</p>
<p>However, they still emit twice as much heat-trapping carbon dioxide as plants running on natural gas. Villagers near the Cirebon plant in Indonesia also complain that stocks of shrimp, fish and green mussels have dwindled.</p>
<p>Japan's coal projects highlight the lack of rules to steer the flow of climate finance from rich to poor countries — a critical part of U.N. talks on global warming, which resume Monday in Lima, Peru. There is no watchdog agency that ensures the money is spent in the most effective way, and no definition of what climate finance is.</p>
<p>Japan, a top contributor of climate finance, denies any wrongdoing and has done nothing illegal — there are no rules against counting such projects as climate finance in the U.N. system.</p>
<p>"There are countries ... that cannot afford to have other methods than coal," Japanese Foreign Ministry spokeswoman Takako Ito said. "For these countries, we'd like to provide the best method of reducing carbon dioxide."</p>
<p>However, U.N. climate chief Christiana Figueres, who was unaware that the Japanese-funded coal plants in Indonesia were labeled as climate finance, said "there is no argument" for supporting such projects with climate money.</p>
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<p>"Unabated coal has no room in the future energy system," she told AP. "Over time, what we should be seeing is a very, very clear trend of investment into clean renewable energy."</p>
<p>Even the newly launched Green Climate Fund, a key channel for climate finance in the future, still only has vague guidelines on how to spend the money. Board member Jan Cedergren said he didn't believe the fund would support fossil fuels but acknowledged no decision has so far been made.</p>
<p>In 2009, rich countries pledged that by 2020 they would provide $100 billion a year in climate finance. They agreed to come up with $30 billion over the next three years, with Japan providing about half.</p>
<p>An analysis of the 300 top climate finance projects during that period showed Japan was the only country to include direct support to new coal plants.</p>
<p>The second-largest project on the list was a $729 million loan for what Japan described as a "high energy efficient thermal power plant project in East Java." AP found that the loan from Japan's Bank for International Cooperation, or JBIC, was used to build an 815-megawatt coal-fired unit at the Paiton power plant, which is partly owned by Japanese firms Mitsui and Tokyo Electric Power Company.</p>
<p>Also among the top 30 projects globally was a $214 million JBIC loan for another "thermal power plant" in West Java, which AP confirmed was the Cirebon power station. The plant is co-owned by Marubeni Corp., a Japanese company that was fined $88 million this year by the U.S. Department of Justice for bribing Indonesian government officials to secure a separate power project.</p>
<p>Japan's climate finance also included a $15 million development loan for a plant in Indramayu, West Java, and a dozen smaller coal projects in India, Indonesia and Vietnam. Those were identified as coal projects in documents submitted to the U.N., while the larger projects in Paiton and Cirebon were not.</p>
<p>Japanese officials said there was no specific reason for that.</p>
<p>"We don't have anything to hide or disguise," a Foreign Ministry official said, speaking on condition of anonymity because he wasn't authorized to speak publicly on the topic.</p>
<p>Marubeni and Mitsui declined requests for comment. Tokyo Electric said transferring Japanese technology can lead to a substantial reduction in carbon emissions.</p>
<p>However, many climate scientists say even the new technology Japan promotes is not enough to meet the U.N. goal of keeping the global temperature rise below 2 degrees. The only way for the math to work with coal, they say, is through technology that sucks carbon dioxide from the air and stores it underground.</p>
<p>That expensive technology is not yet commercially available on a large scale, and neither Cirebon nor Paiton has it.</p>
<p>Although no environmental studies have been done, local fishermen in Kanci Kulon village near the Cirebon plant in West Java say their catches have shrunk. Daud, a 50-year-old fisherman who like many Indonesians only uses one name, said he used to bring in 45 crabs a day. Now the most he gets is 10.</p>
<p>"I believe this is because of the coal sludge" from the plant, he yelled, struggling to be heard over the jet-like roar from the power station.</p>
<p>Cirebon officials told AP journalists touring the site that the plant is safe and denied that any sludge is released into the Java Sea. Heru Dewanto, vice president of the utility that runs Cirebon, acknowledged that the plant had caused some problems for "200 to 300 green mussel farmers or fishermen," but noted that it also provides electricity to half a million homes.</p>
<p>Edi Wibowo, Cirebon's senior environmental engineer, said emissions from the plant were between 856 and 875 grams of carbon dioxide per kilowatt hour of energy produced — 20 percent lower than from an old coal plant. That compares with 600 to 700 for oil, 400 for natural gas, and near zero for renewables like solar and wind power.</p>
<p>Unlike Japan, the U.S. and many other rich countries have cut public funding for coal projects in developing countries. Germany still supports such projects, but doesn't count them as climate finance.</p>
<p>Most environmental groups weren't aware Japan was using climate finance to build coal plants.</p>
<p>"Climate finance is such a mess. It needs to get straightened out," said Karen Orenstein of Friends of the Earth. "It would be such a shame if those resources went to fossil fuel-based technologies. It would be counterproductive."</p>
<p>___</p>
<p>Ritter reported from Stockholm. AP reporters Yuri Kageyama and Ken Moritsugu in Tokyo contributed to this report.</p> | true | 0 | 1 billion loans un initiative poor countries tackle global warming going toward construction power plants fired coal biggest human source carbon pollution japan gave money help companies build three plants indonesia listed united nations climate finance associated press found japan says plants burn coal efficiently therefore cleaner old coal plants continue reading however still emit twice much heattrapping carbon dioxide plants running natural gas villagers near cirebon plant indonesia also complain stocks shrimp fish green mussels dwindled japans coal projects highlight lack rules steer flow climate finance rich poor countries critical part un talks global warming resume monday lima peru watchdog agency ensures money spent effective way definition climate finance japan top contributor climate finance denies wrongdoing done nothing illegal rules counting projects climate finance un system countries afford methods coal japanese foreign ministry spokeswoman takako ito said countries wed like provide best method reducing carbon dioxide however un climate chief christiana figueres unaware japanesefunded coal plants indonesia labeled climate finance said argument supporting projects climate money advertisement unabated coal room future energy system told ap time seeing clear trend investment clean renewable energy even newly launched green climate fund key channel climate finance future still vague guidelines spend money board member jan cedergren said didnt believe fund would support fossil fuels acknowledged decision far made 2009 rich countries pledged 2020 would provide 100 billion year climate finance agreed come 30 billion next three years japan providing half analysis 300 top climate finance projects period showed japan country include direct support new coal plants secondlargest project list 729 million loan japan described high energy efficient thermal power plant project east java ap found loan japans bank international cooperation jbic used build 815megawatt coalfired unit paiton power plant partly owned japanese firms mitsui tokyo electric power company also among top 30 projects globally 214 million jbic loan another thermal power plant west java ap confirmed cirebon power station plant coowned marubeni corp japanese company fined 88 million year us department justice bribing indonesian government officials secure separate power project japans climate finance also included 15 million development loan plant indramayu west java dozen smaller coal projects india indonesia vietnam identified coal projects documents submitted un larger projects paiton cirebon japanese officials said specific reason dont anything hide disguise foreign ministry official said speaking condition anonymity wasnt authorized speak publicly topic marubeni mitsui declined requests comment tokyo electric said transferring japanese technology lead substantial reduction carbon emissions however many climate scientists say even new technology japan promotes enough meet un goal keeping global temperature rise 2 degrees way math work coal say technology sucks carbon dioxide air stores underground expensive technology yet commercially available large scale neither cirebon paiton although environmental studies done local fishermen kanci kulon village near cirebon plant west java say catches shrunk daud 50yearold fisherman like many indonesians uses one name said used bring 45 crabs day gets 10 believe coal sludge plant yelled struggling heard jetlike roar power station cirebon officials told ap journalists touring site plant safe denied sludge released java sea heru dewanto vice president utility runs cirebon acknowledged plant caused problems 200 300 green mussel farmers fishermen noted also provides electricity half million homes edi wibowo cirebons senior environmental engineer said emissions plant 856 875 grams carbon dioxide per kilowatt hour energy produced 20 percent lower old coal plant compares 600 700 oil 400 natural gas near zero renewables like solar wind power unlike japan us many rich countries cut public funding coal projects developing countries germany still supports projects doesnt count climate finance environmental groups werent aware japan using climate finance build coal plants climate finance mess needs get straightened said karen orenstein friends earth would shame resources went fossil fuelbased technologies would counterproductive ___ ritter reported stockholm ap reporters yuri kageyama ken moritsugu tokyo contributed report | 634 |
<p>Flowcharts to check <a href="" type="internal">if your costume is racist</a>, counseling for students <a href="" type="internal">offended by your costume</a>, bans on dressing as Pocahontas, schools cancelling costume parades, <a href="" type="internal">Lena</a> <a href="" type="internal">Dunham</a>; not even Halloween can escape the poison of political correctness. Time to Make Halloween Great Again!</p>
<p>Looking to turn a few heads at this year's Halloween party, ruffle a few feathers, melt a few snowflakes? If you're brave enough to suffer the consequences, then try any one of these "10 Best Political Costumes For 2017" on for size.</p>
<p>1.) A SAFE SPACE</p>
<p />
<p>Now snowflakes can have their very own portable outlet to vent their hurt feelings on when someone shows up to the party wearing a MAGA hat. Simultaneously offensive, yet simultaneously soothing, this costume is a double-whammy!</p>
<p>ITEMS NEEDED:</p>
<p>Making this costume is relatively simple. Just tape or clip the various safe space items (crayons, coloring books, puppy photos) inside a large trench coat, then create a sign that says "SAFE SPACE" using either white paper or some shirt paint, if you have it. Every time someone asks you what your costume is, just open the trench coat and voila. Just be sure to offer them tissue to dry those leftist tears.</p>
<p>2.) THE GENDER UNICORN</p>
<p>A cutesy little "Gender Unicorn" in the vein of "Barney the Purple Dinosaur" has been <a href="" type="internal">popping up on college campuses across the country</a>, offering students a snowflake-friendly way to learn about the gender spectrum. Apparently, some genius thought that the best mascot to represent the non-binary gender cause is a mythical figure that doesn't exist. Go figure. Let's breathe some life into this dead horse.</p>
<p>ITEMS NEEDED:</p>
<p>A puffy purple jacket with some purple pants will do. If no purple clothing, then wrap yourself in some purple paper. To create the mane, attach the various purple streamers onto the back of your head, neck and back; for the horn, cut the cardboard tube into a pointed shape. If you have paint on hand, you can paint the horn rainbow or just wrap it in rainbow streamers. So people will know that you are not just a unicorn, but THE GENDER UNICORN, erect your very own "Gender Spectrum" picket sign to educate your unenlightened guests.</p>
<p>3.) A SNOWFLAKE</p>
<p>No better way to melt snowflakes than actually dressing as one yourself. This relatively simple costume offers plenty of laughs for a limited cost.</p>
<p>ITEMS NEEDED:</p>
<p>Should you not wish to go through the hassle of making this costume, snowflake attire can be <a href="https://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias%3Daps&amp;field-keywords=Snowflake+costume" type="external">purchased just about anywhere</a>, but since making it is all the fun, here's what you can do: 1.) Cut a piece of cardboard into a snowflake that can attach to your back, paint it white and sprinkle it with some glitter; 2.) Make a cardboard sign containing some snowflakey catchphrase like "Speech Is Violence"; 3.) Wear white pajamas or any other white clothing laying about.</p>
<p>4.) THE MAGA MAN</p>
<p>Here's a little something for all you gamers out there. The famed video game character "Mega Man" has expanded his team of heroes to include the new " <a href="https://www.youtube.com/watch?v=6XT3-xuNooA&amp;t=64s" type="external">MAGA MAN</a>," sworn enemy of George Soros and his Antifa cronies. Political correctness stands no chance against this patriotic hero.</p>
<p>ITEMS NEEDED:</p>
<p>Unless you have the skills to create your own "Mega Man" costume, you'll have to shell out some cash for this one. Adult costumes are going for <a href="https://www.amazon.com/FunCostumes-Adult-Megaman-Costume/dp/B012YIFLCW" type="external">$39.99 on Amazon</a> right now. Some costumes also <a href="https://www.amazon.com/Mega-Man-Mens-Proto-Costume/dp/B01LZ72LM6/ref=pd_lpo_vtph_193_tr_t_2?_encoding=UTF8&amp;refRID=437RH4TQ3GRZ5E0D6CBR" type="external">come in red</a> to evoke a little more of that MAGA spirit. Once you have the costume, then all that's left is pinning on the MAGA swag wherever you see fit; any standard Trump wig will complete the ensemble.</p>
<p>5.) #TAKEAKNEE</p>
<p>Ungrateful athletes taking a knee during the National Anthem have rightly angered many sports fans. What better way to vent your anger than to satirize the living daylights out of them while taking the kids out for some trick or treating. Just don't act too surprised when you're met with an onslaught of "BOOS" when walking down the sidewalk.</p>
<p>ITEMS NEEDED:</p>
<p>Though a Colin Kaepernick jersey would really tie it all together, any NFL player will do. Just make a cardboard sign with some half-baked message about why protesting the flag is what true Americans do and use your iPhone to play The Star-Spangled Banner on occasion. The knee pads should help with the discomfort, 'cuz you got a whole bunch of kneeling to do before the night is through.</p>
<p>6.) 'SPICEY!'</p>
<p>Melissa McCarthy's parody of Sean Spicer was by far the best SNL had to offer in 2017. Now that "Spicey's" retired from the MAGA train, the character will most likely never return again. This Halloween, you can give "Spicey" the retirement he deserves. This costume works best when worn by a lady.</p>
<p>ITEMS NEEDED:</p>
<p>Once you can get your hair to mimic Sean Spicer's iconic receding hairline, this costume is rather simple. Just put on the suit and use your "dollies" to tell the "fake news" press a thing or two about President Trump's new travel ban.</p>
<p>7.) 'THE MOOCH'</p>
<p />
<p>He came, he saw, he conquered. Though Anthony Scaramucci lasted barely two weeks as communications director for Trump's White House, he lives on forever in our memories.</p>
<p>ITEMS NEEDED:</p>
<p>You got to be filthy rich with a penchant for blowing large wads of cash on ridiculous things to pull this costume off. On the record, off the record; just come ready to speak your mind and lay some of that thick New York charm onto those suckers in the press pool. Be sure to keep on the lookout for John Kelly.</p>
<p>8.) WOMEN'S MARCH</p>
<p />
<p>Uh, oh! Look out, patriarchy. It's the angry feminists of the "Women's March." This "Nasty Woman" in a "pussy hat" is the scariest costume by far this year. Keep it away from children. Pregnant ladies, be warned.</p>
<p>ITEMS NEEDED:</p>
<p>The creativity in this costume is whatever anti-patriarchal, misandrist, craziness you can fit on your picket sign. Threatening to <a href="http://video.foxnews.com/v/5291959751001/" type="external">blow up the White House</a> is already taken.</p>
<p>9.) TRUMP'S WALL</p>
<p />
<p>Trump's long-promised border wall may have an uphill battle facing it, but that doesn't mean we can't erect our own for the time being. You want the wall, you got the wall ... So long as you can get your Mexican friend to pay for it.</p>
<p>ITEMS NEEDED:</p>
<p>Paint a slab of rectangular cardboard until it resembles a big, beautiful wall that can attach to the torso. This wall was built by President Trump after all, so be sure to include as many stickers of his face alongside the "Keep Out" signs. Loop the wire at the top to mimic the concertina and place the American flag toothpicks at the corners.</p>
<p>10.) Cultural Appropriation</p>
<p>With this costume, you become a hodge-podge of all the various cultures leftists have deemed too taboo to wear. If you don't mind going home from the party with a black eye, and if you're brave enough to endure the onslaught of onlookers denouncing you as "racist," then this costume is just for you.</p>
<p>ITEMS NEEDED:</p>
<p>The trick here is fitting as many as you can.</p>
<p>BONUS: 'COVFEFE'</p>
<p>Trump did say he had the "best words." It just turned out to be a word that none of us could figure out. What in the world is "Covfefe"? A late-night typo? A code-word to activate Trump's Russian cells? What Bill Murray whispered to Scarlett Johansson at the end of Lost In Translation? We don't know, and this costume is all up to the imagination. Here are a few suggestions on Twitter to get you thinking:</p> | true | 0 | flowcharts check costume racist counseling students offended costume bans dressing pocahontas schools cancelling costume parades lena dunham even halloween escape poison political correctness time make halloween great looking turn heads years halloween party ruffle feathers melt snowflakes youre brave enough suffer consequences try one 10 best political costumes 2017 size 1 safe space snowflakes portable outlet vent hurt feelings someone shows party wearing maga hat simultaneously offensive yet simultaneously soothing costume doublewhammy items needed making costume relatively simple tape clip various safe space items crayons coloring books puppy photos inside large trench coat create sign says safe space using either white paper shirt paint every time someone asks costume open trench coat voila sure offer tissue dry leftist tears 2 gender unicorn cutesy little gender unicorn vein barney purple dinosaur popping college campuses across country offering students snowflakefriendly way learn gender spectrum apparently genius thought best mascot represent nonbinary gender cause mythical figure doesnt exist go figure lets breathe life dead horse items needed puffy purple jacket purple pants purple clothing wrap purple paper create mane attach various purple streamers onto back head neck back horn cut cardboard tube pointed shape paint hand paint horn rainbow wrap rainbow streamers people know unicorn gender unicorn erect gender spectrum picket sign educate unenlightened guests 3 snowflake better way melt snowflakes actually dressing one relatively simple costume offers plenty laughs limited cost items needed wish go hassle making costume snowflake attire purchased anywhere since making fun heres 1 cut piece cardboard snowflake attach back paint white sprinkle glitter 2 make cardboard sign containing snowflakey catchphrase like speech violence 3 wear white pajamas white clothing laying 4 maga man heres little something gamers famed video game character mega man expanded team heroes include new maga man sworn enemy george soros antifa cronies political correctness stands chance patriotic hero items needed unless skills create mega man costume youll shell cash one adult costumes going 3999 amazon right costumes also come red evoke little maga spirit costume thats left pinning maga swag wherever see fit standard trump wig complete ensemble 5 takeaknee ungrateful athletes taking knee national anthem rightly angered many sports fans better way vent anger satirize living daylights taking kids trick treating dont act surprised youre met onslaught boos walking sidewalk items needed though colin kaepernick jersey would really tie together nfl player make cardboard sign halfbaked message protesting flag true americans use iphone play starspangled banner occasion knee pads help discomfort cuz got whole bunch kneeling night 6 spicey melissa mccarthys parody sean spicer far best snl offer 2017 spiceys retired maga train character likely never return halloween give spicey retirement deserves costume works best worn lady items needed get hair mimic sean spicers iconic receding hairline costume rather simple put suit use dollies tell fake news press thing two president trumps new travel ban 7 mooch came saw conquered though anthony scaramucci lasted barely two weeks communications director trumps white house lives forever memories items needed got filthy rich penchant blowing large wads cash ridiculous things pull costume record record come ready speak mind lay thick new york charm onto suckers press pool sure keep lookout john kelly 8 womens march uh oh look patriarchy angry feminists womens march nasty woman pussy hat scariest costume far year keep away children pregnant ladies warned items needed creativity costume whatever antipatriarchal misandrist craziness fit picket sign threatening blow white house already taken 9 trumps wall trumps longpromised border wall may uphill battle facing doesnt mean cant erect time want wall got wall long get mexican friend pay items needed paint slab rectangular cardboard resembles big beautiful wall attach torso wall built president trump sure include many stickers face alongside keep signs loop wire top mimic concertina place american flag toothpicks corners 10 cultural appropriation costume become hodgepodge various cultures leftists deemed taboo wear dont mind going home party black eye youre brave enough endure onslaught onlookers denouncing racist costume items needed trick fitting many bonus covfefe trump say best words turned word none us could figure world covfefe latenight typo codeword activate trumps russian cells bill murray whispered scarlett johansson end lost translation dont know costume imagination suggestions twitter get thinking | 697 |
<p>Very little sounds more unsettling than the risk of catching “the plague” but most of us think this is just something that was around during the Middle Ages because of poor hygiene. Unfortunately, that’s incorrect, and to prove it, there is an epidemic of the pneumonic plague in Madagascar right now.</p>
<p>We all remember&#160;reading about The Black Death during history lessons in school. It was a horrific pandemic that nearly wiped out Europe, killing a disputed number of people that ranges between 50 million and 100 million. Also known as the pneumonic plague, here is a quick video to get you up to speed on your medieval history.</p>
<p />
<p>It’s bad and it’s reminiscent of the Liberian Ebola outbreak in 2013, that alarmingly&#160; <a href="http://www.theorganicprepper.ca/breaking-ebola-has-been-confirmed-in-texas-09302014" type="external">made its way to American soil</a>. The New York Times reported on the situation in Madagascar:</p>
<p>Since August, the country has reported over 200 infections and 33 deaths.</p>
<p>The outbreak is beginning to resemble the&#160; <a href="https://www.nytimes.com/2014/08/20/world/africa/ebola-is-disaster-of-scale-still-unknown-relief-official-says.html" type="external">early stages of the West African Ebola crisis</a>&#160;in 2014: a lethal disease normally confined to sparsely populated rural areas has reached crowded cities and is spreading in a highly transmissible form.</p>
<p>Schools, universities and other public buildings have closed so they can be sprayed to kill fleas, which may carry the infection. The government has forbidden large public gatherings, including sporting events and concerts.</p>
<p>Fears that the outbreak could spread to other countries are rising.</p>
<p>Late last month, plague struck a basketball tournament for teams from Indian Ocean countries, killing a coach from the Seychelles and infecting another from South Africa. The players are being monitored, Malagasy health authorities told the W.H.O.</p>
<p>Madagascar typically has about 400 cases of plague each year between September and April, but they are&#160; <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3820717/" type="external">usually focused in the nation’s central highlands</a>&#160;and spread by fleas living on rats in rice-growing areas. This outbreak is unusually worrying because most new cases are in cities and are pneumonic plague, the form transmitted by coughing. ( <a href="https://www.nytimes.com/2017/10/06/health/madagascar-plague.html?_r=0" type="external">source</a>)</p>
<p>Madagascar is a large island of 224,533 square miles off the coast of southeastern Africa. It has a population of&#160; <a href="http://worldpopulationreview.com/countries/madagascar-population/" type="external">more than 25 million people</a>&#160;in an area that is approximately&#160;twice the size of the state of Arizona.</p>
<p><a href="https://i1.wp.com/www.theorganicprepper.ca/wp-content/uploads/2017/10/where_is_madagascar.jpg" type="external" />In comparison, Arizona has just over 6 million people, so as you can see, Madagascar is densely populated.</p>
<p>The biggest city on the island is&#160;Antananarivo, which has a population of&#160;1,391,433, and concerningly, Patient Zero of the current outbreak traveled through the city by public transit, causing great concern of the possible ramifications.</p>
<p>The Madagascar outbreak started in August, when a 31-year-old man originally thought to have malaria traveled by bush taxi from the central highlands to his home in the coastal city of Toamasina, passing through the capital, Antananarivo.</p>
<p>He died en route and “a large cluster of infections” broke out among his contacts, according to&#160; <a href="http://apps.who.int/iris/bitstream/10665/259181/1/Ext-PlagueMadagascar4102017.pdf" type="external">a W.H.O. update</a>&#160;issued Oct. 4. Those contacts passed it on to others.</p>
<p>Plague was not confirmed until blood samples collected from a 47-year-old woman who died on Sept. 11 in an Antananarivo hospital of what appeared to be pneumonia were tested at Madagascar’s branch of the Pasteur Institute. The samples came up positive on a rapid test for plague.&#160;( <a href="https://www.nytimes.com/2017/10/06/health/madagascar-plague.html?_r=0" type="external">source</a>)</p>
<p>Madagascar is no stranger to the plague, with about 400 cases every year, but this time around, it’s the pneumonic plague, which is far more contagious and deadly.</p>
<p>…the majority of cases are of pneumonic plague, which affects the lungs and is transmitted through coughing. It is considered to be the most deadly form of the disease and can be fatal within 24 hours.</p>
<p>The less deadly bubonic plague is often spread by rodents fleeing forest fires. Humans usually become ill after being bitten by infected fleas.</p>
<p>Public gatherings have been banned in response to the latest outbreak.</p>
<p>A specialised hospital in the capital Antananarivo is struggling to cope with the influx of ill people, local media reported, with long queues outside for face masks and medicine.</p>
<p>This year&#160;urban areas have been affected, a development that has worried aid agencies in a country not renowned for a robust healthcare system. ( <a href="http://www.bbc.com/news/world-africa-41537193" type="external">source</a>)</p>
<p>Of course, with urban areas comes public transportation, and even more alarmingly for the rest of the world,&#160; <a href="https://en.wikipedia.org/wiki/Ivato_International_Airport" type="external">an international airport</a>. There has already been at least one documented case of pneumonic plague leaving the island, causing Air Seychelles to halt service to Madagascar:</p>
<p>“Following the advice and request of the Public Health Authority of Seychelles concerning the plague epidemic in Madagascar, Air Seychelles will temporarily suspend its services between Seychelles and Madagascar from Sunday 8 October 2017.”</p>
<p>This is the content of the official communiqué of Air Seychelles which will no longer serve Madagascar from tomorrow 08 October 2017.</p>
<p>It is certain that the Seychelles authorities did not appreciate the death of the Seychellois basketball coach in Madagascar following a pulmonary plague he contracted on the spot during the basketball tournament in Antananarivo. It was only after this unfortunate death that the Malagasy authorities took action and began a thorough awareness campaign. ( <a href="http://crofsblogs.typepad.com/h5n1/2017/10/air-seychelles-suspends-flights-to-madagascar-over-plague-fears.html" type="external">source</a>)</p>
<p>Aside from this, I could find no other travel restrictions to or from Madagascar.</p>
<p>There are three types of plague:&#160;bubonic plague,&#160;septicemic plague, and&#160;pneumonic plague.</p>
<p>Bubonic plague&#160;is spread via infected fleas and small animals. It can result from bites or exposure to the body fluids of dead, plague-infected animals. It can enter through the skin by a flea bite and travel to the lymph system. Treatment with antibiotics must occur within the first 24 hours of symptoms. The mortality rate for those treated ranges from 1-15%, but for untreated patients, ranges from 40-60%.</p>
<p>Septicemic plague&#160;is the rarest form of plague and is nearly always fatal without treatment. It attacks the bloodstream. Treatment must begin immediately after symptoms have shown or it will be too late. It is transmitted from flea bites, rodent bites, or mammal bites from infected creatures.</p>
<p>In septicemic plague, bacterial&#160;endotoxins&#160;cause disseminated intravascular coagulation (DIC), where tiny blood clots form throughout the body, commonly resulting in localised&#160;ischemic&#160;necrosis, tissue death from lack of circulation and&#160;perfusion.</p>
<p>DIC results in depletion of the body’s&#160;clotting&#160;resources, so that it can no longer control bleeding. Consequently, the unclotted blood bleeds into the skin and other organs, leading to red or black patchy rash and to&#160;hematemesis&#160;(vomiting blood) or&#160;hemoptysis&#160;(spitting blood). The rash may cause bumps on the skin that look somewhat like insect bites, usually red, sometimes white in the center. ( <a href="https://en.wikipedia.org/wiki/Septicemic_plague" type="external">source</a>)</p>
<p>As awful as the other two versions sound, the pneumonic plague is the most contagious and worrisome. It causes a severe lung infection that is often confused with pneumonia, delaying essential treatment. It can be spread via rodents and flea bites.but also from the sputum of those infected. It can become&#160;completely airborne, making it far more difficult to avoid infection.</p>
<p>It must be treated within 24 hours or is nearly always fatal. People who have been exposed to pneumonic plague can be treated prophylactically with antibiotics.</p>
<p>The World Health Organization has sent over a million doses of antibiotics and has protective gear on the way. There are also other measures in place as reported by the BBC.</p>
<p>The authorities have also banned prison visits in the two worst affected areas to prevent the spread of the disease.</p>
<p>The risk of contamination is high in overcrowded and unsanitary jails…</p>
<p>Public gatherings have been banned in response to the latest outbreak.</p>
<p>A specialised hospital in the capital Antananarivo is struggling to cope with the influx of ill people, local media reported, with long queues outside for face masks and medicine.</p>
<p>This year urban areas have been affected, a development that has worried aid agencies in a country not renowned for a robust healthcare system…</p>
<p>On 30 September, Prime Minister Olivier Mahafaly Solonandrasana in a televised statement announced that all public gatherings would be banned in Antananarivo to prevent the spread of the disease following the death of the basketball coach.</p>
<p>In addition to school closures across the country, authorities on 5 October ordered the closure of the country’s two main universities in the eastern port of Toamasina and Antananarivo for disinfection purposes. Sports events have also been cancelled.</p>
<p>There have been concerted efforts to set up rat traps and spray insecticides in several neighbourhoods to prevent the spread of the disease. The government has also established a toll-free number to report any new cases. ( <a href="http://www.bbc.com/news/world-africa-41537193" type="external">source</a>)</p>
<p>The local government is also cracking down on anyone who spreads information that is not in line with the national Ministry of Health.</p>
<p>The Ministry of Health in addition has also taken measures against social media users who it accuses of spreading “false news” on the disease to create panic. A Facebook user was arrested and investigated on 3 October for publishing a report which did not correspond to the toll given by the ministry.&#160;( <a href="http://www.bbc.com/news/world-africa-41537193" type="external">source</a>)</p>
<p>That’s unsettling, isn’t it?</p>
<p>At this point, we have no new cases of pneumonic plague in the United States. It has happened before, as one example, when there was an outbreak caused by an infected dog in Colorado in 2015 that then turned into human-to-human transmission. ( <a href="https://www.cdc.gov/mmwr/preview/mmwrhtml/mm6416a1.htm" type="external">source)</a>&#160;A few months ago, fleas in Arizona were discovered to be carrying the plague. ( <a href="https://www.forbes.com/sites/brucelee/2017/08/14/fleas-found-to-be-carrying-plague-in-arizona/#3a4ef7a830b5" type="external">source</a>)</p>
<p>If untreated, people still can die from the plague, which in the United States occurs in the wild, primarily in rural parts of western states, at a rate of about 10 to 15 cases per year, according to the CDC. Most of the naturally occurring cases are bubonic plague, which can bring on pneumonic plague if left untreated and a person’s lungs become infected.</p>
<p>However, the disease is completely treatable with modern antibiotics if it is diagnosed early.</p>
<p>Worldwide, the World Health Organization reports 1,000 to 3,000 cases of plague each year.</p>
<p>Most infections in the United States have occurred after disposing of squirrels or mice that died from the infection or traveling in an area where infected rodents live. Health officials recommend staying away animals that are lethargic or appear sick. ( <a href="http://abcnews.go.com/Health/story?id=116771&amp;page=1" type="external">source</a>)</p>
<p>At this time, we have&#160;absolutely no documentation of this bout from Madagascar affecting the United States.</p>
<p>But that doesn’t mean it’s impossible. Never forget that people thought Ebola wouldn’t make it to our shores and it did. The reason it didn’t turn into a full-blown pandemic had absolutely nothing to do with a slipshod official response, either.&#160; <a href="http://www.theorganicprepper.ca/heres-how-easily-an-epidemic-like-ebola-can-turn-into-a-pandemic-05242017" type="external">Read this to learn just how easily an epidemic on foreign shores can turn into a pandemic&#160;</a>that affects the whole world.</p>
<p>While the plague is not difficult to treat with antibiotics if caught quickly, one thing that concerns me is the overuse of antibiotics in the United States. They simply don’t work as well for us these days because of near constant exposure from meat and dairy products.</p>
<p>This is not currently a threat to us, but it bears watching. Preparing for a pandemic should start well before the illness shows up, or you run the risk of not being able to get essential supplies.&#160; <a href="http://www.theorganicprepper.ca/are-you-prepped-for-a-pandemic-09122016" type="external">This article can help you get a jump on prepping for a pandemic</a>. If you want more information,&#160; <a href="https://preppersuniversity.com/are-you-prepared-for-a-deadly-pandemic/" type="external">this class</a>&#160;contains a 90-minute interview, written information, and checklists. Keep in the loop with the Facebook page,&#160; <a href="https://www.facebook.com/Pandemic-Watch-771900112874128/" type="external">Pandemic Watch</a>, and follow&#160; <a href="http://preppersdailynews.com/" type="external">Preppers Daily News</a>&#160;for updates. Finally,&#160; <a href="http://www.theorganicprepper.ca/sign-daily-newsletter" type="external">be sure to sign up for my email list</a>&#160;– when I know, you’ll know.</p>
<p>Think of it like a tropical storm, hundreds of miles out to sea. We have no idea if it will reach our shores or how strong it will be, but it’s important to be watchful and ready in case it heads our way. Don’t panic, but be ready to take action to protect your family.</p>
<p>Daisy is a coffee-swigging, gun-toting, homeschooling blogger who writes about current events, preparedness, frugality, and the pursuit of liberty on her websites,&#160; <a href="http://www.theorganicprepper.ca/sign-daily-newsletter" type="external">The Organic Prepper</a>&#160;and&#160; <a href="http://daisyluther.com/" type="external">DaisyLuther.com&#160;</a>She is the author of&#160; <a href="http://amzn.to/2h3c5S1" type="external">4 books</a>and the co-founder of&#160; <a href="https://preppersuniversity.com/" type="external">Preppers University</a>, where she teaches intensive preparedness courses in a live online classroom setting. You can follow her on&#160; <a href="http://www.facebook.com/TheOrganicPrepper?ref=hl" type="external">Facebook</a>,&#160; <a href="http://pinterest.com/daisyluther/boards/" type="external">Pinterest</a>, and&#160; <a href="https://twitter.com/DaisyLuther" type="external">Twitter</a>.</p>
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<p /> | true | 0 | little sounds unsettling risk catching plague us think something around middle ages poor hygiene unfortunately thats incorrect prove epidemic pneumonic plague madagascar right remember160reading black death history lessons school horrific pandemic nearly wiped europe killing disputed number people ranges 50 million 100 million also known pneumonic plague quick video get speed medieval history bad reminiscent liberian ebola outbreak 2013 alarmingly160 made way american soil new york times reported situation madagascar since august country reported 200 infections 33 deaths outbreak beginning resemble the160 early stages west african ebola crisis160in 2014 lethal disease normally confined sparsely populated rural areas reached crowded cities spreading highly transmissible form schools universities public buildings closed sprayed kill fleas may carry infection government forbidden large public gatherings including sporting events concerts fears outbreak could spread countries rising late last month plague struck basketball tournament teams indian ocean countries killing coach seychelles infecting another south africa players monitored malagasy health authorities told madagascar typically 400 cases plague year september april are160 usually focused nations central highlands160and spread fleas living rats ricegrowing areas outbreak unusually worrying new cases cities pneumonic plague form transmitted coughing source madagascar large island 224533 square miles coast southeastern africa population of160 25 million people160in area approximately160twice size state arizona comparison arizona 6 million people see madagascar densely populated biggest city island is160antananarivo population of1601391433 concerningly patient zero current outbreak traveled city public transit causing great concern possible ramifications madagascar outbreak started august 31yearold man originally thought malaria traveled bush taxi central highlands home coastal city toamasina passing capital antananarivo died en route large cluster infections broke among contacts according to160 update160issued oct 4 contacts passed others plague confirmed blood samples collected 47yearold woman died sept 11 antananarivo hospital appeared pneumonia tested madagascars branch pasteur institute samples came positive rapid test plague160 source madagascar stranger plague 400 cases every year time around pneumonic plague far contagious deadly majority cases pneumonic plague affects lungs transmitted coughing considered deadly form disease fatal within 24 hours less deadly bubonic plague often spread rodents fleeing forest fires humans usually become ill bitten infected fleas public gatherings banned response latest outbreak specialised hospital capital antananarivo struggling cope influx ill people local media reported long queues outside face masks medicine year160urban areas affected development worried aid agencies country renowned robust healthcare system source course urban areas comes public transportation even alarmingly rest world160 international airport already least one documented case pneumonic plague leaving island causing air seychelles halt service madagascar following advice request public health authority seychelles concerning plague epidemic madagascar air seychelles temporarily suspend services seychelles madagascar sunday 8 october 2017 content official communiqué air seychelles longer serve madagascar tomorrow 08 october 2017 certain seychelles authorities appreciate death seychellois basketball coach madagascar following pulmonary plague contracted spot basketball tournament antananarivo unfortunate death malagasy authorities took action began thorough awareness campaign source aside could find travel restrictions madagascar three types plague160bubonic plague160septicemic plague and160pneumonic plague bubonic plague160is spread via infected fleas small animals result bites exposure body fluids dead plagueinfected animals enter skin flea bite travel lymph system treatment antibiotics must occur within first 24 hours symptoms mortality rate treated ranges 115 untreated patients ranges 4060 septicemic plague160is rarest form plague nearly always fatal without treatment attacks bloodstream treatment must begin immediately symptoms shown late transmitted flea bites rodent bites mammal bites infected creatures septicemic plague bacterial160endotoxins160cause disseminated intravascular coagulation dic tiny blood clots form throughout body commonly resulting localised160ischemic160necrosis tissue death lack circulation and160perfusion dic results depletion bodys160clotting160resources longer control bleeding consequently unclotted blood bleeds skin organs leading red black patchy rash to160hematemesis160vomiting blood or160hemoptysis160spitting blood rash may cause bumps skin look somewhat like insect bites usually red sometimes white center source awful two versions sound pneumonic plague contagious worrisome causes severe lung infection often confused pneumonia delaying essential treatment spread via rodents flea bitesbut also sputum infected become160completely airborne making far difficult avoid infection must treated within 24 hours nearly always fatal people exposed pneumonic plague treated prophylactically antibiotics world health organization sent million doses antibiotics protective gear way also measures place reported bbc authorities also banned prison visits two worst affected areas prevent spread disease risk contamination high overcrowded unsanitary jails public gatherings banned response latest outbreak specialised hospital capital antananarivo struggling cope influx ill people local media reported long queues outside face masks medicine year urban areas affected development worried aid agencies country renowned robust healthcare system 30 september prime minister olivier mahafaly solonandrasana televised statement announced public gatherings would banned antananarivo prevent spread disease following death basketball coach addition school closures across country authorities 5 october ordered closure countrys two main universities eastern port toamasina antananarivo disinfection purposes sports events also cancelled concerted efforts set rat traps spray insecticides several neighbourhoods prevent spread disease government also established tollfree number report new cases source local government also cracking anyone spreads information line national ministry health ministry health addition also taken measures social media users accuses spreading false news disease create panic facebook user arrested investigated 3 october publishing report correspond toll given ministry160 source thats unsettling isnt point new cases pneumonic plague united states happened one example outbreak caused infected dog colorado 2015 turned humantohuman transmission source160a months ago fleas arizona discovered carrying plague source untreated people still die plague united states occurs wild primarily rural parts western states rate 10 15 cases per year according cdc naturally occurring cases bubonic plague bring pneumonic plague left untreated persons lungs become infected however disease completely treatable modern antibiotics diagnosed early worldwide world health organization reports 1000 3000 cases plague year infections united states occurred disposing squirrels mice died infection traveling area infected rodents live health officials recommend staying away animals lethargic appear sick source time have160absolutely documentation bout madagascar affecting united states doesnt mean impossible never forget people thought ebola wouldnt make shores reason didnt turn fullblown pandemic absolutely nothing slipshod official response either160 read learn easily epidemic foreign shores turn pandemic160that affects whole world plague difficult treat antibiotics caught quickly one thing concerns overuse antibiotics united states simply dont work well us days near constant exposure meat dairy products currently threat us bears watching preparing pandemic start well illness shows run risk able get essential supplies160 article help get jump prepping pandemic want information160 class160contains 90minute interview written information checklists keep loop facebook page160 pandemic watch follow160 preppers daily news160for updates finally160 sure sign email list160 know youll know think like tropical storm hundreds miles sea idea reach shores strong important watchful ready case heads way dont panic ready take action protect family daisy coffeeswigging guntoting homeschooling blogger writes current events preparedness frugality pursuit liberty websites160 organic prepper160and160 daisyluthercom160she author of160 4 booksand cofounder of160 preppers university teaches intensive preparedness courses live online classroom setting follow on160 facebook160 pinterest and160 twitter | 1,124 |
<p>President Barack Obama slammed real estate mogul Donald Trump for supposedly not believing in science – even though this is something that Obama himself is guilty of.</p>
<p>In a commencement address at Rutgers University, Obama <a href="http://www.npr.org/sections/thetwo-way/2016/05/15/478131083/without-naming-him-obama-takes-aim-at-trump-during-rutgers-commencement" type="external">said</a> in a snarky tone, "Facts, evidence, reason, logic, an understanding of science: These are good things. These are qualities you want in people making policy...We traditionally have valued those things, but if you're listening to today's political debate, you might wonder where this strain of anti-intellectualism came from."</p>
<p>The irony, of course, is that Obama doesn't exactly practice what he preaches. Here are five ways in which Obama denies science.</p>
<p>1. Back in 2008, Obama <a href="http://www.politico.com/story/2015/02/obama-vaccines-views-suspicious-114837" type="external">suggested</a> there was a link between vaccines and autism. During an April 2008 rally, Obama said, "We’ve seen just a skyrocketing autism rate. Some people are suspicious that it’s connected to the vaccines. This person included [Obama reportedly pointed to an audience member here]." Obama continued, "The science is right now inconclusive, but we have to research it."</p>
<p>Politico tried to spin it by suggesting that the context was unclear if Obama was referring only to rising autism rates or if there was a connection between autism and vaccines, but it's obvious in the <a href="https://www.youtube.com/watch?v=SYkluT1GbAc" type="external">video</a> that he's referring to a link between autism and vaccines, since Obama later says, "Part of the reason I think it's very important to research it is that vaccines are also preventing huge numbers of deaths among children and preventing debilitating illnesses like polio, uh, so we can't afford to junk our vaccine system. We've got to figure out why is it that this is happening so that we are starting to see a more normal–what was a normal–rate of autism because if we keep seeing increases in the rate that we're seeing, we're never going to have enough money to provide the special needs, special education money that's going to be necessary."</p>
<p>As <a href="" type="internal">The Daily Wire</a> has previously reported, the research on vaccines proving they are effective and perfectly safe is sound. The notion that there is a link between vaccines and autism was based on a study that used falsified data.</p>
<p>Today, Obama claims to believe that vaccines are safe, but his statement in 2008 shows that he's capable of letting pseudo-science trump science.</p>
<p>2. Obama believes that life doesn't begin at conception, or even outside of the womb. Obama is an extremist on the issue of abortion. He has openly defended infanticide. <a href="http://www.lifenews.com/2012/08/23/new-audio-surfaces-of-obama-defending-infanticide-in-illinois/" type="external">In 2003</a> Obama argued against the Born Alive legislation - a law that defended children who survived abortions - when he was in the Illinois state senate. Obama's extreme position is based on the premise that life doesn't begin at conception, which flies in the face of science.</p>
<p>Here are prominent scientists who have testified in front of the Senate saying that life begins at conception, via the <a href="http://naapc.org/why-life-begins-at-conception/" type="external">National Association for the Advancement of Preborn Children</a> (NAAPC):</p>
<p>There are also <a href="http://www.lifenews.com/2015/01/08/41-quotes-from-medical-textbooks-prove-human-life-begins-at-conception/" type="external">at least 41 medical textbooks</a> that prove that life begins at conception, including the National Institutes of Health, which defines fertilization as "the somatic chromosome number is restored and the development of a new individual is initiated."</p>
<p>3. Obama sneers at anyone who believes that man-made climate change is a myth, even though the science is actually against the global warming alarmist crowd. Back in 2013, Obama <a href="http://thehill.com/blogs/blog-briefing-room/news/307655-obama-we-dont-have-time-for-a-meeting-of-the-flat-earth-society" type="external">treated</a> climate change skeptics with derision and scorn.</p>
<p>"We don't have time for a meeting of the Flat-Earth Society," Obama said. "Sticking your head in the sand might make you feel safer, but it's not going to protect you from the coming storm."</p>
<p>Ironically, the Flat-Earth Society <a href="https://www.theguardian.com/global/2010/feb/23/flat-earth-society" type="external">believes</a> in man-made global warming.</p>
<p>"The planet is warming. Human activity is contributing to it," Obama said, touting the <a href="http://www.wsj.com/articles/SB10001424052702303480304579578462813553136" type="external">myth</a> that a consensus of scientists believe in man-made climate change. "We know that the costs of these events can be measured in lost lives and lost livelihoods."</p>
<p>Obama also said that "that the 12 warmest years in recorded history have all come within the last 15 years, and said that rising temperatures were increasing the severity and impact of storms."</p>
<p>This is all completely <a href="" type="internal">false</a>, as there has been an 18-year pause in warming, and the frequency and severity of storms have actually been declining, not rising.</p>
<p>In actuality, the science shows that rising temperatures results in higher levels of carbon dioxide, not the other way around, as demonstrated by the following videos:</p>
<p />
<p>Professor Mike van Biezen has a comprehensive takedown of the man-made climate change myth <a href="" type="internal">here</a>.</p>
<p>4. Obama thinks that people can arbitrarily change their gender, even though it is biologically impossible to do so. Last week, the Obama administration issued a <a href="http://www2.ed.gov/about/offices/list/ocr/letters/colleague-201605-title-ix-transgender.pdf" type="external">letter</a> threatening public schools with revoking federal funds if they didn't allow men to pee in women's bathrooms and vice versa.</p>
<p>"A school may not require transgender students to use facilities inconsistent with their gender identity or to use individual-user facilities when other students are not required to do so," the letter <a href="" type="internal">states</a>. The letter also made it clear that schools cannot require a medical diagnosis for a person to use a bathroom of their choice.</p>
<p>The absurdity of the letter's premise can be seen in their definition of "gender identity," which "refers to an individual’s internal sense of gender. A person’s gender identity may be different from or the same as the person’s sex assigned at birth." The letter defines a transgender male as " someone who identifies as male but was assigned the sex of female at birth." The key word in both cases is the word "assigned," implying that gender is nothing more than a homework assignment given out by a teacher and is therefore a fluid construct. The science, however, proves otherwise.</p>
<p>According to <a href="http://thefederalist.com/2016/04/21/drop-the-t-from-lgbt/" type="external">The Federalist</a>, gender reassignment began under the guidance of Dr. Harry Benjamin in the 1970s. The leading doctor in his clinic for the surgeries was Dr. Charles Ihlenfeld, who was gay, and came to the following conclusion after performing around 500 transgender surgeries: "Whatever surgery did, it did not fulfill a basic yearning for something that is difficult to define. This goes along with the idea that we are trying to treat superficially something that is much deeper."</p>
<p><a href="http://www.cnsnews.com/blog/michael-w-chapman/johns-hopkins-psychiatrist-transgendered-men-dont-become-women-they-become" type="external">Dr. Paul McHugh</a> at John Hopkins Hospital had similar findings after the institute stopped performing sex-change operations.</p>
<p>"Gender dysphoria — the official psychiatric term for feeling oneself to be of the opposite s — ex — belongs in the family of similarly disordered assumptions about the body, such as anorexia nervosa and body dysmorphic disorder," McHugh explained in an article for The Witherspoon Institute. "Its treatment should not be directed at the body as with surgery and hormones any more than one treats obesity-fearing anorexic patients with liposuction."</p>
<p>McHugh continues, "All (including Bruce Jenner) become feminized men or masculinized women, counterfeits or impersonators of the sex with which they 'identify.' In that lies their problematic future."</p>
<p>The scientist noted that suicide rates among those who had gender reassignment surgery were 20 times higher after 10-15 years than those in similar circumstances who did not.</p>
<p>There is an abundance of research that confirms these finds; The Federalist highlights the following from the UK Guardian:</p>
<p>There is no conclusive evidence that sex change operations improve the lives of transsexuals, with many people remaining severely distressed and even suicidal after the operation, according to a medical review conducted exclusively for Guardian Weekend tomorrow. The review of more than 100 international medical studies of post-operative transsexuals by the University of Birmingham’s aggressive research intelligence facility (Arif) found no robust scientific evidence that gender reassignment surgery is clinically effective.</p>
<p>As well as this:</p>
<p>A study published in JAMA Pediatrics in March 2016 shows a high prevalence of psychiatric diagnoses in a sample of 298 young transgender women aged 16 through 29 years. More than 40 percent had coexisting mental health or substance dependence diagnoses. One in five had two or more psychiatric diagnoses. The most commonly occurring disorders were major depressive episode, suicidality, generalized anxiety disorder, posttraumatic stress disorder, alcohol dependence, and non-alcohol psychoactive substance use dependence.</p>
<p>The study concluded that improved access to medical and psychological care “are urgently needed to address mental health and substance dependence disorders in this population.”</p>
<p>The science therefore is sound: It is biologically impossible for people to change their gender identity. But Obama won't let facts and science obstruct his mission to fundamentally transform America's bathrooms.</p>
<p>5. Obama thinks that advances in medicine can be brought about through funding embryonic stem cells rather than adult stem cells. Back in 2009, Obama issued an <a href="https://www.cbsnews.com/news/obama-ends-stem-cell-research-ban/" type="external">executive order</a> allowing federal funding for further research into embryonic stem cell treatment. Not only does his directive gloss over the ethical problems with embryonic stem cells — as many view them as potential human life — but completely ignores the problems of embryonic stem cells when put to medicinal use:</p>
<p>First, one minor complication is that use of human embryonic stem cells requires lifelong use of drugs to prevent rejection of the tissue. Second, another more serious disadvantage is that using embryonic stem cells can produce tumors from rapid growth when injected into adult patients. A third disadvantage reported in the March 8, 2001, New England Journal of Medicine was of tragic side effects from an experiment involving the insertion of fetal brain cells into the brains of Parkinson's disease patients. Results included uncontrollable movements: writhing, twisting, head jerking, arm-flailing, and constant chewing. Fourth, a recent report in the Journal Science reported that mice cloned from ESC were genetically defective. If human ESC are also genetically unstable, that could materially compromise efforts to transform cells extracted from embryos into successful medical therapies. Finally, the research may be hampered because many of the existing stem cell lines were grown with the necessary help of mouse cells. If any of this research is to turn into treatments, it will need approval from the FDA, which requires special safeguards to prevent transmission of animal diseases to people. It is unclear how many of these cell lines were developed with the safeguards in place. This leads to a host of problems related to transgenic issues.</p>
<p>Adult stem cells, on the other hand, don't carry the same ethical issues since they're simply cells "that divide to replenish dying cells and regenerate damaged tissues." They also have better potential for medical research than embryonic stem cells do, as demonstrated in a story in the <a href="http://www.nationalreview.com/human-exceptionalism/432576/adult-stem-cells-cure-blindness" type="external">UK Telegraph</a> where doctors were able to cure blindness in 12 babies.</p>
<p>"An ultimate goal of stem cell research is to turn on the regenerative potential of one’s own stem cells for tissue and organ repair and disease therapy,” Dr Kang Zhang, chief of Ophthalmic Genetics and founding director of UC San Diego's Institute for Genomic Medicine, told the Telegraph. "The success of this work represents a new approach in how new human tissue or organ can be regenerated and human disease can be treated, and may have a broad impact on regenerative therapies by harnessing the regenerative power of our own body."</p>
<p>Yet, Obama chose to provide more federal funding for the less scientifically viable option and <a href="http://www.lifenews.com/2011/10/12/obama-oks-more-embryonic-funding-ignores-adult-stem-cells/" type="external">ignore adult stem cells altogether</a>. This is not a man who is interested in adhering to science, as he's only interested in promoting his hard-left ideology.</p> | true | 0 | president barack obama slammed real estate mogul donald trump supposedly believing science even though something obama guilty commencement address rutgers university obama said snarky tone facts evidence reason logic understanding science good things qualities want people making policywe traditionally valued things youre listening todays political debate might wonder strain antiintellectualism came irony course obama doesnt exactly practice preaches five ways obama denies science 1 back 2008 obama suggested link vaccines autism april 2008 rally obama said weve seen skyrocketing autism rate people suspicious connected vaccines person included obama reportedly pointed audience member obama continued science right inconclusive research politico tried spin suggesting context unclear obama referring rising autism rates connection autism vaccines obvious video hes referring link autism vaccines since obama later says part reason think important research vaccines also preventing huge numbers deaths among children preventing debilitating illnesses like polio uh cant afford junk vaccine system weve got figure happening starting see normalwhat normalrate autism keep seeing increases rate seeing never going enough money provide special needs special education money thats going necessary daily wire previously reported research vaccines proving effective perfectly safe sound notion link vaccines autism based study used falsified data today obama claims believe vaccines safe statement 2008 shows hes capable letting pseudoscience trump science 2 obama believes life doesnt begin conception even outside womb obama extremist issue abortion openly defended infanticide 2003 obama argued born alive legislation law defended children survived abortions illinois state senate obamas extreme position based premise life doesnt begin conception flies face science prominent scientists testified front senate saying life begins conception via national association advancement preborn children naapc also least 41 medical textbooks prove life begins conception including national institutes health defines fertilization somatic chromosome number restored development new individual initiated 3 obama sneers anyone believes manmade climate change myth even though science actually global warming alarmist crowd back 2013 obama treated climate change skeptics derision scorn dont time meeting flatearth society obama said sticking head sand might make feel safer going protect coming storm ironically flatearth society believes manmade global warming planet warming human activity contributing obama said touting myth consensus scientists believe manmade climate change know costs events measured lost lives lost livelihoods obama also said 12 warmest years recorded history come within last 15 years said rising temperatures increasing severity impact storms completely false 18year pause warming frequency severity storms actually declining rising actuality science shows rising temperatures results higher levels carbon dioxide way around demonstrated following videos professor mike van biezen comprehensive takedown manmade climate change myth 4 obama thinks people arbitrarily change gender even though biologically impossible last week obama administration issued letter threatening public schools revoking federal funds didnt allow men pee womens bathrooms vice versa school may require transgender students use facilities inconsistent gender identity use individualuser facilities students required letter states letter also made clear schools require medical diagnosis person use bathroom choice absurdity letters premise seen definition gender identity refers individuals internal sense gender persons gender identity may different persons sex assigned birth letter defines transgender male someone identifies male assigned sex female birth key word cases word assigned implying gender nothing homework assignment given teacher therefore fluid construct science however proves otherwise according federalist gender reassignment began guidance dr harry benjamin 1970s leading doctor clinic surgeries dr charles ihlenfeld gay came following conclusion performing around 500 transgender surgeries whatever surgery fulfill basic yearning something difficult define goes along idea trying treat superficially something much deeper dr paul mchugh john hopkins hospital similar findings institute stopped performing sexchange operations gender dysphoria official psychiatric term feeling oneself opposite ex belongs family similarly disordered assumptions body anorexia nervosa body dysmorphic disorder mchugh explained article witherspoon institute treatment directed body surgery hormones one treats obesityfearing anorexic patients liposuction mchugh continues including bruce jenner become feminized men masculinized women counterfeits impersonators sex identify lies problematic future scientist noted suicide rates among gender reassignment surgery 20 times higher 1015 years similar circumstances abundance research confirms finds federalist highlights following uk guardian conclusive evidence sex change operations improve lives transsexuals many people remaining severely distressed even suicidal operation according medical review conducted exclusively guardian weekend tomorrow review 100 international medical studies postoperative transsexuals university birminghams aggressive research intelligence facility arif found robust scientific evidence gender reassignment surgery clinically effective well study published jama pediatrics march 2016 shows high prevalence psychiatric diagnoses sample 298 young transgender women aged 16 29 years 40 percent coexisting mental health substance dependence diagnoses one five two psychiatric diagnoses commonly occurring disorders major depressive episode suicidality generalized anxiety disorder posttraumatic stress disorder alcohol dependence nonalcohol psychoactive substance use dependence study concluded improved access medical psychological care urgently needed address mental health substance dependence disorders population science therefore sound biologically impossible people change gender identity obama wont let facts science obstruct mission fundamentally transform americas bathrooms 5 obama thinks advances medicine brought funding embryonic stem cells rather adult stem cells back 2009 obama issued executive order allowing federal funding research embryonic stem cell treatment directive gloss ethical problems embryonic stem cells many view potential human life completely ignores problems embryonic stem cells put medicinal use first one minor complication use human embryonic stem cells requires lifelong use drugs prevent rejection tissue second another serious disadvantage using embryonic stem cells produce tumors rapid growth injected adult patients third disadvantage reported march 8 2001 new england journal medicine tragic side effects experiment involving insertion fetal brain cells brains parkinsons disease patients results included uncontrollable movements writhing twisting head jerking armflailing constant chewing fourth recent report journal science reported mice cloned esc genetically defective human esc also genetically unstable could materially compromise efforts transform cells extracted embryos successful medical therapies finally research may hampered many existing stem cell lines grown necessary help mouse cells research turn treatments need approval fda requires special safeguards prevent transmission animal diseases people unclear many cell lines developed safeguards place leads host problems related transgenic issues adult stem cells hand dont carry ethical issues since theyre simply cells divide replenish dying cells regenerate damaged tissues also better potential medical research embryonic stem cells demonstrated story uk telegraph doctors able cure blindness 12 babies ultimate goal stem cell research turn regenerative potential ones stem cells tissue organ repair disease therapy dr kang zhang chief ophthalmic genetics founding director uc san diegos institute genomic medicine told telegraph success work represents new approach new human tissue organ regenerated human disease treated may broad impact regenerative therapies harnessing regenerative power body yet obama chose provide federal funding less scientifically viable option ignore adult stem cells altogether man interested adhering science hes interested promoting hardleft ideology | 1,099 |
<p>Last night we reported the breaking story of a horrific live-streamed video of four black teens in Chicago torturing a white special needs youth while taunting him,&#160; <a href="" type="internal">Black Chicago teens torture special-needs boy, yell “F*** Donald Trump! F*** white people!”</a></p>
<p>Today more horrible details were revealed by police, including the existence of a second video showing the perps forcing the victim to drink from the toilet. <a href="http://chicago.cbslocal.com/2017/01/05/second-torture-video-shows-teen-forced-to-drink-from-toilet/" type="external">CBS Chicago</a> reports:</p>
<p>A day after Chicago police said they were questioning four people about a “sickening” video showing the torture of a mentally disabled teen, a second video has surfaced showing the suspects forcing the young man to drink out of a toilet….</p>
<p />
<p>In the first 30-minute video, which apparently was posted live on Facebook on Tuesday, the victim is backed into a corner, his mouth duct-taped shut. The victim’s clothes were cut, he was peppered with cigarette ashes, and then his hair cut with a knife until his scalp bled.</p>
<p>Several people can be seen laughing and eating during the attack, in addition to making disparaging remarks about President-elect Donald Trump and using racially charged language. At one point, while the victim is backed into a corner, someone is heard shouting “F*** Donald Trump. F*** white people.”</p>
<p>Thursday morning, Chicago police confirmed they are investigating a second video, which surfaced on Twitter, and appears to show the suspects grabbing the victim’s head, shoving it into a toilet, and forcing him to drink.</p>
<p>Someone can be heard yelling “Drink that s*** right f***ing now. … Drink the toilet water, b****! Say f*** Trump! Say f*** Trump!”</p>
<p />
<p>This afternoon the perps were charged with various crimes. There was media speculation that this might not be a hate crime (see more below), but hate crimes charges were filed this afternoon, <a href="http://chicago.cbslocal.com/2017/01/05/torture-hate-crime-facebook-live-video/" type="external">Four Charged With Hate Crime For Videotaped Torture Of Teen</a></p>
<p>Two men and two women have been charged with a hate crime, after allegedly kidnapping an 18-year-old mentally challenged man, torturing him for up to two days, and posting videos of the torture online.</p>
<p>Jordan Hill, 18; Tesfaye Cooper, 18; Brittany Covington, 18; and Tanishia Covington, 24, have been charged with aggravated kidnapping, aggravated unlawful restraint, aggravated battery, and hate crime, according to the Cook County State’s Attorney’s office. Hill also was charged with robbery and possession of a stolen motor vehicle. Hill, Cooper, and Brittany Covington also were charged with residential burglary.</p>
<p>Hill is from Carpentersville. The other three suspects are from Chicago. All four were scheduled to appear for bond hearings Friday afternoon.</p>
<p>Police have said the 18-year-old victimized in the videos is a northwest suburban resident with special needs who had been reported missing. The four suspects are black. The victim is white.</p>
<p>In the first 30-minute video, which apparently was posted live on Facebook on Tuesday, the victim is backed into a corner, his mouth duct-taped shut. The victim’s clothes were cut, he was peppered with cigarette ashes, and then his hair cut with a knife until his scalp bled.</p>
<p>Several people can be seen laughing and eating during the attack, in addition to making disparaging remarks about President-elect Donald Trump and using racially charged language. At one point, while the victim is backed into a corner, someone is heard shouting “F*** Donald Trump. F*** white people.”</p>
<p>The reaction from liberals and leftist has been an abomination. There were multiple high profile attempts to deny this was a hate crime. The Daily Caller reported on one such instance, <a href="http://dailycaller.com/2017/01/05/crazy-cnn-panelist-blames-trump-for-kidnapped-tortured-white-man-that-is-not-a-hate-crime-video/" type="external">Crazy CNN Panelist Blames TRUMP For Kidnapped, Tortured White Man — ‘That Is Not A Hate Crime’</a>:</p>
<p>During a panel discussion on CNN Wednesday night, Symone Sanders blamed an unlikely source for the kidnapping of a white, Chicago man who was mentally disabled.</p>
<p>For some reason, Sanders accused Donald Trump for forcing the four black assailants to torture their victim and record it, all while screaming, “fuck Donald Trump! Fuck white people!”</p>
<p />
<p>Shaun King followed another emerging thread of rejection, claiming that the biggest issue was that the hashtag for the incident was #BLMkidnapping, and that Black Lives Matter should not be implicated:</p>
<p><a href="https://twitter.com/ShaunKing/status/817033697627148288?ref_src=twsrc%5Etfw" type="external" /></p>
<p>Others on Twitter tried to support the perps as HeatStreet documented, <a href="http://heatst.com/culture-wars/twitter-radicals-exonerate-black-teens-who-tortured-young-white-man-in-chicago/" type="external">‘Sick of These White Men Crying RACIST’: Radicals Defend Black Teens Held in Facebook Torture Case</a>.</p>
<p>But by far the most depraved mainstream media reaction was by Callum Borchers writing in WaPo, where he tried to misdirect reaction to this horrible racist crime into an attempt by Trump supporters to justify their own racism, <a href="https://www.washingtonpost.com/news/the-fix/wp/2017/01/05/pro-trump-narratives-converge-in-one-awful-attack-streamed-on-facebook/?utm_term=.d02aaa47cabe" type="external">Pro-Trump narratives converge in one awful attack streamed on Facebook</a>:</p>
<p>If you believe discrimination against white people is rampant, that Donald Trump supporters face persecution, that Chicago is a war zone, and the media is dishonest, then your entire worldview is likely to be confirmed by one awful story….</p>
<p>The cruel act captured on video is, in fact, receiving extensive media coverage — and universal condemnation — on CNN and elsewhere. But some conservatives are not satisfied by the response….</p>
<p>The message in conservative media is clear: Reverse discrimination — particularly against white Trump voters — is a big problem that the liberals in the media refuse to acknowledge. Oh, and by the way, Chicago (the part inhabited mostly by black people, anyway) is a super-dangerous place, just like Trump said….</p>
<p>The worldview of many Trump voters might not be supported by data. But now they can find support in one awful video out of Chicago.</p>
<p />
<p />
<p>If your instant reaction to a man being tortured is "gotta make sure this doesn't help Trump," you're a psychopath. <a href="https://twitter.com/callumborchers" type="external">@callumborchers</a> <a href="https://twitter.com/TheFix" type="external">@TheFix</a></p>
<p>— Sean Davis (@seanmdav) <a href="https://twitter.com/seanmdav/status/817067929556647941" type="external">January 5, 2017</a></p>
<p />
<p>We will continue to update.</p> | true | 0 | last night reported breaking story horrific livestreamed video four black teens chicago torturing white special needs youth taunting him160 black chicago teens torture specialneeds boy yell f donald trump f white people today horrible details revealed police including existence second video showing perps forcing victim drink toilet cbs chicago reports day chicago police said questioning four people sickening video showing torture mentally disabled teen second video surfaced showing suspects forcing young man drink toilet first 30minute video apparently posted live facebook tuesday victim backed corner mouth ducttaped shut victims clothes cut peppered cigarette ashes hair cut knife scalp bled several people seen laughing eating attack addition making disparaging remarks presidentelect donald trump using racially charged language one point victim backed corner someone heard shouting f donald trump f white people thursday morning chicago police confirmed investigating second video surfaced twitter appears show suspects grabbing victims head shoving toilet forcing drink someone heard yelling drink right fing drink toilet water b say f trump say f trump afternoon perps charged various crimes media speculation might hate crime see hate crimes charges filed afternoon four charged hate crime videotaped torture teen two men two women charged hate crime allegedly kidnapping 18yearold mentally challenged man torturing two days posting videos torture online jordan hill 18 tesfaye cooper 18 brittany covington 18 tanishia covington 24 charged aggravated kidnapping aggravated unlawful restraint aggravated battery hate crime according cook county states attorneys office hill also charged robbery possession stolen motor vehicle hill cooper brittany covington also charged residential burglary hill carpentersville three suspects chicago four scheduled appear bond hearings friday afternoon police said 18yearold victimized videos northwest suburban resident special needs reported missing four suspects black victim white first 30minute video apparently posted live facebook tuesday victim backed corner mouth ducttaped shut victims clothes cut peppered cigarette ashes hair cut knife scalp bled several people seen laughing eating attack addition making disparaging remarks presidentelect donald trump using racially charged language one point victim backed corner someone heard shouting f donald trump f white people reaction liberals leftist abomination multiple high profile attempts deny hate crime daily caller reported one instance crazy cnn panelist blames trump kidnapped tortured white man hate crime panel discussion cnn wednesday night symone sanders blamed unlikely source kidnapping white chicago man mentally disabled reason sanders accused donald trump forcing four black assailants torture victim record screaming fuck donald trump fuck white people shaun king followed another emerging thread rejection claiming biggest issue hashtag incident blmkidnapping black lives matter implicated others twitter tried support perps heatstreet documented sick white men crying racist radicals defend black teens held facebook torture case far depraved mainstream media reaction callum borchers writing wapo tried misdirect reaction horrible racist crime attempt trump supporters justify racism protrump narratives converge one awful attack streamed facebook believe discrimination white people rampant donald trump supporters face persecution chicago war zone media dishonest entire worldview likely confirmed one awful story cruel act captured video fact receiving extensive media coverage universal condemnation cnn elsewhere conservatives satisfied response message conservative media clear reverse discrimination particularly white trump voters big problem liberals media refuse acknowledge oh way chicago part inhabited mostly black people anyway superdangerous place like trump said worldview many trump voters might supported data find support one awful video chicago instant reaction man tortured got ta make sure doesnt help trump youre psychopath callumborchers thefix sean davis seanmdav january 5 2017 continue update | 569 |
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