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<p>AP</p>
<p>BY: <a href="" type="internal">Andrew Evans</a> December 9, 2013 10:00 am</p>
<p>When the Supreme Court agreed last week to hear Hobby Lobby’s lawsuit against the Obama administration over the Affordable Care Act’s contraception mandate, conservatives hoped the court would blow another deal to the president’s signature legislation.</p>
<p>The case appeared to concern a clear First Amendment principle, freedom of religion. Additionally, the <a href="http://www.nytimes.com/2013/01/27/health/religious-groups-and-employers-battle-contraception-mandate.html" type="external">uproar</a> over the mandate requiring that all insurance plans cover contraception—including abortifacient drugs that many Christians see as immoral—has been steady and strong. And <a href="" type="internal">Hobby Lobby won</a> before an appeals court recently.</p>
<p>However, despite its rather simple appearance, Kathleen Sebelius v. Hobby Lobby is far from a simple case. While the core issue at stake is protected in the First Amendment, this case ultimately revolves around a law passed by Congress in 1993. Additionally, the result will likely be close, as the case affects core liberal priorities that several justices will likely be loath to compromise.</p>
<p>Facts of the Case</p>
<p>Hobby Lobby is a family-owned arts-and-crafts store based in Oklahoma with branches throughout the country. The owners, the Green family, are devout Evangelical Christians who believe that life begins at fertilization. Unlike Catholics, the Greens are not opposed to all forms of contraception, but they are opposed to contraception that prevents a fertilized egg from implanting in the womb.</p>
<p>The Affordable Care Act requires all health insurance plans to cover preventative care at no cost to the insured individual, and the Obama administration decided to include all forms of contraception under this requirement. Among these are four contraceptive methods and drugs such as the morning-after pill (called "ella") that prevent a fertilized egg from implanting in the uterus.</p>
<p>Obamacare further requires all employers with over 50 employees to provide "qualifying" health insurance to their employees, meaning that in order to comply with the law, employers have to provide insurance that covers abortifacient drugs like ella.</p>
<p>The Greens and Hobby Lobby are left with three choices: comply with the law and violate their conscience, break the law and face crippling fines, or sell or close the business.</p>
<p>Why Not the First Amendment?</p>
<p>Neither <a href="http://sblog.s3.amazonaws.com/wp-content/uploads/2013/10/No-13-354-Brief-for-Respondents.pdf" type="external">Hobby Lobby</a> nor the <a href="http://sblog.s3.amazonaws.com/wp-content/uploads/2013/10/2013-0354.pet_.aa_1.pdf" type="external">Obama administration</a> appealed to the First Amendment’s protection of religion in their briefs to the court. Their arguments instead focus on the <a href="http://www.law.cornell.edu/uscode/text/42/chapter-21B" type="external">Religious Freedom Restoration Act</a> (or RFRA), which President Bill Clinton signed into law in 1993.</p>
<p>Congress passed RFRA in response to a Supreme Court decision in 1990 that severely curtailed the priority of religious freedom over other federal laws. In Employment Division v. Smith, the Supreme Court ruled that people must comply with "neutral, generally applicable regulatory law" even if the law incidentally burdens their exercise of religion. Laws cannot single out religious groups, but religious people cannot claim a right to be exempt from a law that applies equally to them and everybody else.</p>
<p>Congress passed RFRA nearly unanimously in response following public outcry. RFRA prohibits the government from burdening people’s exercise of religion, even with a generally applicable law, unless the law furthers "a compelling governmental interest" by the "least restrictive means" possible.</p>
<p>What the Supreme Court precedent and RFRA both demonstrate is that religious freedom is not an absolute right. It takes priority over many things, and the government should make every effort to protect it, but religious freedom cannot trump every law. What’s more, the current protection of religious freedom that Hobby Lobby is claiming exists under a statute, not under the Constitution, meaning that it is necessarily much more tenuous than it would be if it had Constitutional protection.</p>
<p>What is perhaps most surprising about Employment Division v. Smith is that it was written by perhaps the most outspoken conservative on today’s court, Justice Antonin Scalia, who would likely have to join any majority ruling in favor of Hobby Lobby.</p>
<p>Are Corporations People?</p>
<p>The Greens have asked for an exemption from the regulation requiring them to provide what they consider to be abortion-inducing drugs. While the Obama administration has granted exemptions to houses of worship and other nonprofit organizations, it refused to grant an exemption to Hobby Lobby because it is a for-profit corporation.</p>
<p>The administration drew a distinction between nonprofit corporations and for-profit corporations in its brief. Nonprofits often exist to allow people to exercise their religion (churches, for example, are nonprofit organizations), but businesses are intended to generate a financial profit. To support its case, the administration pointed to numerous federal laws and court decisions that grant exemptions to nonprofits but never explicitly to for-profit businesses.</p>
<p>At question is whether corporations can exercise religion at all—that is, whether corporations have legally recognizable rights. The administration argues that they cannot, and points to the legal history of the last half-century to bolster its point. <a href="http://www.youtube.com/watch?feature=player_detailpage&amp;v=fHYFmrkUvzQ&amp;desktop_uri=%2Fwatch%3Ffeature%3Dplayer_detailpage%26v%3DfHYFmrkUvzQ&amp;app=desktop" type="external">Other liberals</a> <a href="http://www.huffingtonpost.com/lincoln-mitchell/walmart-food-drive_b_4367969.html" type="external">have</a> <a href="http://www.huffingtonpost.com/valerie-jarrett/supreme-court-birth-control_b_4346143.html" type="external">argued</a> that businesses cannot claim the same rights as individuals when they enter the public marketplace, simply by virtue of pursuing a financial profit.</p>
<p>However, Hobby Lobby argues that it, as a corporation, can legally exercise religion, and it appeals to RFRA and the Dictionary Act to prove its case. RFRA protects "a person’s exercise of religion," and although RFRA does not define a legal "person," the Dictionary Act defines a legal person to include "corporations, companies, associations, firms, partnerships, societies, and joint stock companies, as well as individuals."</p>
<p>The 10th Circuit Court of Appeals sided with Hobby Lobby because of the RFRA and the Dictionary Act: A corporation is a person according to law, and the law protects the religious expression of all people, therefore the law protects the religious expression of a corporation, within certain limits.</p>
<p>RFRA does allow the government to burden people’s expression of religion if it has a good enough reason to do so, and the administration asserts three primary interests.</p>
<p>First, it argues that making contraception available is a matter of public health. Second, it argues that the state has an interest in ensuring that all of its citizens, including women, "have equal access to health-care services." And third, the government asserts an interest in ensuring that everybody has access to a comprehensive healthcare system.</p>
<p>Hobby Lobby argues that the government does not think that all of these interests are compelling because the law grants so many carve-outs and exemptions to other organizations, including the aforementioned exemptions for religious nonprofits. The 10th Circuit also <a href="http://www.becketfund.org/wp-content/uploads/2013/06/2013.06.27-Opinion.pdf" type="external">rejected the administration's claims</a> for the same reason.</p>
<p>Guided by Citizens United</p>
<p>The issue at stake here—whether corporations are people and qualify for rights—is not new. The Supreme Court ruled on the legal rights of corporations in its <a href="http://www.law.cornell.edu/supct/html/08-205.ZS.html" type="external">Citizens United v. Federal Election Commission</a> decision in 2010. Citizens United may be the best analogue to the current Hobby Lobby case, although the rights at issue in the two cases—freedom of speech and freedom of religion, respectively—are different.</p>
<p>In Citizens United, a liberal priority—campaign finance reform that prevents the rich from gaining an advantage in elections—was at stake. In Hobby Lobby, a liberal priority is also at stake, this time gender equality and access to contraception and both cases deal with the rights of corporations.</p>
<p>Citizens United was a tightly decided case, with a 5-4 split on the court. The five conservatives—Scalia, Thomas, Alito, Roberts, and Kennedy—overruled the four liberals—Breyer, Ginsburg, Stevens, and Sotomayor. The makeup of the court is very similar today, with Justice Elena Kagan replacing Stevens after Citizens United.</p>
<p>Legal experts do not know which way the court will head on this case. The lower courts are split on the issue, with other circuit courts deciding that businesses do not have a right to an exemption based on religious beliefs. But if Citizens United is a guide, as the parallels between the two cases suggest it could be, the Hobby Lobby case will be close.</p> | true | 0 | ap andrew evans december 9 2013 1000 supreme court agreed last week hear hobby lobbys lawsuit obama administration affordable care acts contraception mandate conservatives hoped court would blow another deal presidents signature legislation case appeared concern clear first amendment principle freedom religion additionally uproar mandate requiring insurance plans cover contraceptionincluding abortifacient drugs many christians see immoralhas steady strong hobby lobby appeals court recently however despite rather simple appearance kathleen sebelius v hobby lobby far simple case core issue stake protected first amendment case ultimately revolves around law passed congress 1993 additionally result likely close case affects core liberal priorities several justices likely loath compromise facts case hobby lobby familyowned artsandcrafts store based oklahoma branches throughout country owners green family devout evangelical christians believe life begins fertilization unlike catholics greens opposed forms contraception opposed contraception prevents fertilized egg implanting womb affordable care act requires health insurance plans cover preventative care cost insured individual obama administration decided include forms contraception requirement among four contraceptive methods drugs morningafter pill called ella prevent fertilized egg implanting uterus obamacare requires employers 50 employees provide qualifying health insurance employees meaning order comply law employers provide insurance covers abortifacient drugs like ella greens hobby lobby left three choices comply law violate conscience break law face crippling fines sell close business first amendment neither hobby lobby obama administration appealed first amendments protection religion briefs court arguments instead focus religious freedom restoration act rfra president bill clinton signed law 1993 congress passed rfra response supreme court decision 1990 severely curtailed priority religious freedom federal laws employment division v smith supreme court ruled people must comply neutral generally applicable regulatory law even law incidentally burdens exercise religion laws single religious groups religious people claim right exempt law applies equally everybody else congress passed rfra nearly unanimously response following public outcry rfra prohibits government burdening peoples exercise religion even generally applicable law unless law furthers compelling governmental interest least restrictive means possible supreme court precedent rfra demonstrate religious freedom absolute right takes priority many things government make every effort protect religious freedom trump every law whats current protection religious freedom hobby lobby claiming exists statute constitution meaning necessarily much tenuous would constitutional protection perhaps surprising employment division v smith written perhaps outspoken conservative todays court justice antonin scalia would likely join majority ruling favor hobby lobby corporations people greens asked exemption regulation requiring provide consider abortioninducing drugs obama administration granted exemptions houses worship nonprofit organizations refused grant exemption hobby lobby forprofit corporation administration drew distinction nonprofit corporations forprofit corporations brief nonprofits often exist allow people exercise religion churches example nonprofit organizations businesses intended generate financial profit support case administration pointed numerous federal laws court decisions grant exemptions nonprofits never explicitly forprofit businesses question whether corporations exercise religion allthat whether corporations legally recognizable rights administration argues points legal history last halfcentury bolster point liberals argued businesses claim rights individuals enter public marketplace simply virtue pursuing financial profit however hobby lobby argues corporation legally exercise religion appeals rfra dictionary act prove case rfra protects persons exercise religion although rfra define legal person dictionary act defines legal person include corporations companies associations firms partnerships societies joint stock companies well individuals 10th circuit court appeals sided hobby lobby rfra dictionary act corporation person according law law protects religious expression people therefore law protects religious expression corporation within certain limits rfra allow government burden peoples expression religion good enough reason administration asserts three primary interests first argues making contraception available matter public health second argues state interest ensuring citizens including women equal access healthcare services third government asserts interest ensuring everybody access comprehensive healthcare system hobby lobby argues government think interests compelling law grants many carveouts exemptions organizations including aforementioned exemptions religious nonprofits 10th circuit also rejected administrations claims reason guided citizens united issue stake herewhether corporations people qualify rightsis new supreme court ruled legal rights corporations citizens united v federal election commission decision 2010 citizens united may best analogue current hobby lobby case although rights issue two casesfreedom speech freedom religion respectivelyare different citizens united liberal prioritycampaign finance reform prevents rich gaining advantage electionswas stake hobby lobby liberal priority also stake time gender equality access contraception cases deal rights corporations citizens united tightly decided case 54 split court five conservativesscalia thomas alito roberts kennedyoverruled four liberalsbreyer ginsburg stevens sotomayor makeup court similar today justice elena kagan replacing stevens citizens united legal experts know way court head case lower courts split issue circuit courts deciding businesses right exemption based religious beliefs citizens united guide parallels two cases suggest could hobby lobby case close | 757 |
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<p>Image source: Getty Images.</p>
<p>Continue Reading Below</p>
<p>Shares in Gilead Sciences were jumping more than 4% earlier today on word that the FDA has given the green light to its next-generation hepatitis C drug, Epclusa. The FDA's decision to approve Epclusa was widely anticipated, and it could significantly shake up market share. Can AbbVie Inc. and Merck &amp; Co. maintain their market share in the indication, or will Epclusa turn their drugs into niche players?</p>
<p>In 2014, Gilead Sciences successfully launched Sovaldi and Harvoni, two hepatitis C drugs that transformed standard of care in this indication.</p>
<p>Prior to Sovaldi and Harvoni (a mash-up of Sovaldi and a second drug, ledipasvir), most hepatitis C patients received injection-based treatment that lasted 24 weeks or longer and often caused significant side effects. Cure rates for prior-generation treatments were only about 80%.</p>
<p>With the launch of Sovaldi and Harvoni, treatment duration fell to 12 weeks (and sometimes less) for the majority of patients, and cure rates rocketed into a percentage range inthe mid-90s.</p>
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<p>Their significant improvements to standard of care, along with price tags in the high tens of thousands of dollars, resulted in both of these drugs becoming instant multibillion-dollar blockbusters.</p>
<p>However, because hepatitis C affects 170 million people worldwide, and the market for hepatitis C drugs is worth billions, Gilead Sciences hasn't been the only company that's been knee-deep in researching new hepatitis C therapies.AbbVie Inc. and Merck &amp; Co. have also rolled out drugs in the past year and a half that target the disease.</p>
<p>In January 2015, AbbVie launched Viekira Pak, and due to a sweetheart exclusivity deal with Express Scripts Holding, Viekira Pak's annualized quarterly sales hit $2.2 billion in the fourth quarter of 2015.In February 2016, Merck launched Zepatier, and while its sales were a tepid $50 million in the first quarter, industry watchers have forecast that it could also be a billion-dollar drug.</p>
<p>So far, AbbVie's and Merck's gains of market share from Gilead Sciences have been because of price, not better efficacy and safety.</p>
<p>Image source: AbbVie.</p>
<p>When each drug was launched, the cost of 12 weeks of treatment was $84,000 forSovaldi, and $94,500 for Harvoni. AbbVie priced Viekira Pak similarly to Sovaldi, but it discounted prices significantly to win exclusive use by insurers relying on Express Scripts' formulary.</p>
<p>Taking cues from AbbVie, when Zepatier won approval, Merck set the wholesale price of equivalent doses of Zepatier at $54,600. Ostensibly, Merck is also discounting that price significantly to win favor with payers.</p>
<p>Because of the price war betweenAbbVie and Merck, Gilead Sciences' hepatitis C drug sales have flatlined. In Q1, Sovaldi and Harvoni revenue totaled $4.3 billion, which was slightly lower than the $4.5 billion reported a year ago.</p>
<p>A leveling off of hepatitis C sales has been a major drag on Gilead Sciences' share price in the past year, but Epclusa could allow growth to accelerate again; if so, some of that growth could come at the expense ofViekira Pak and Zepatier.</p>
<p>Viekira Pak is a multi-drug-per-day therapy often requiring the coadministration of ribavirin, a prior-generation drug with a long list of side effects.Viekira Pak delivers cure rates that are solidly in the 90% range; however, last fall, the FDA required a new label warning of potential liver damage in patients with decompensated livers. Because Viekira Pak's dosing requirements are burdensome and it's arguably less appealing safetywise, Epclusa has a good shot at outcompeting it.</p>
<p>In trials, 12 weeks of Epclusa delivered 98% cure rates, regardless of the disease's genotype, and the most common adverse events reported in its studies were headache and fatigue. Additionally, of the 87 patients studied with decompensated cirrhosis who were given Epclusa plus ribavirin, only four patients discontinued treatment because of adverse events.</p>
<p>Eplcusa's efficacy and safety profile could end up giving it an edge over Viekira Pak, but Viekira Pak may still hold on to a big chunk of market share if Express Scripts decides to restrict the use of Epclusa.</p>
<p>Zepatier may not be as lucky. It doesn't enjoy the same level of exclusivity as Viekira Pak, and while its cure rates are very good overall, achieving a cure in patients with specific polymorphisms requires dosing that can last as long as 16 weeks. Also, Zepatier's potential to cause spikes in liver enzymes makes it contraindicated for use in patients with moderate to severe liver disease, scored in Child-Pugh classes B and C.</p>
<p>Because polymorphisms occur in about 10% of genotype 1 patients and Zepatier is not used in decompensated-liver cases, doctors might simply turn away from it now that they can prescribe Epclusa with fewer worries.Epclusa's high cure rates come regardless of patient polymorphisms, and it can be used in patients in Child-Pugh classes B and C.</p>
<p>Epclusa'sbiggest advantage over existing treatments is that it's approved for use in patients with any hepatitis Cgenotype.Viekira Pak is approved for use in genotype 1 patients and Zepatier is approved for use in patients withgenotypes 1 and 4.</p>
<p>Gilead Sciences is charging $74,500 for 12 weeks of Epclusa, which is lower than Sovaldi's list price, but Gilead Sciences' advantages over its competitors suggest it won't have to discount prices as much as it does for Sovaldi and Harvoni. In the past, Gilead Sciences' management has said it wants to position Epclusa as the first genotype 2 and 3 therapy that doesn't require coadministration with ribavirin. That strategy suggests it will try to limit how much Epclusa cannibalizes sales of Harvoni.</p>
<p>Depending on how pricing plays out in genotype 1, the impact on Viekira Pak and Zepatier may be somewhat limited. Nevertheless, Epclusa appears to be the best-in-class solution for hepatitis C, and that status should make it a top seller. If so, then Gilead Sciences could be in position to overdeliverin the second half of the year, and that would make its shares worth buying.</p>
<p>The article <a href="http://www.fool.com/investing/2016/06/28/the-fda-unsurprisingly-approves-gileads-new-hepati.aspx" type="external">The FDA Unsurprisingly Approves Gilead's New Hepatitis C Drug. Now What?</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/EBCapitalMarkets/info.aspx?source=eptfxblnk0000004" type="external">Todd Campbell</a> owns shares of Gilead Sciences.Todd owns E.B. Capital Markets, LLC. E.B. Capital's clients may have positions in the companies mentioned. Like this article? Follow him onTwitter where he goes by the handle <a href="https://twitter.com/ebcapital" type="external">@ebcapital</a> to see more articles like this.The Motley Fool owns shares of and recommends Express Scripts and Gilead Sciences. 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 | image source getty images continue reading shares gilead sciences jumping 4 earlier today word fda given green light nextgeneration hepatitis c drug epclusa fdas decision approve epclusa widely anticipated could significantly shake market share abbvie inc merck amp co maintain market share indication epclusa turn drugs niche players 2014 gilead sciences successfully launched sovaldi harvoni two hepatitis c drugs transformed standard care indication prior sovaldi harvoni mashup sovaldi second drug ledipasvir hepatitis c patients received injectionbased treatment lasted 24 weeks longer often caused significant side effects cure rates priorgeneration treatments 80 launch sovaldi harvoni treatment duration fell 12 weeks sometimes less majority patients cure rates rocketed percentage range inthe mid90s advertisement significant improvements standard care along price tags high tens thousands dollars resulted drugs becoming instant multibilliondollar blockbusters however hepatitis c affects 170 million people worldwide market hepatitis c drugs worth billions gilead sciences hasnt company thats kneedeep researching new hepatitis c therapiesabbvie inc merck amp co also rolled drugs past year half target disease january 2015 abbvie launched viekira pak due sweetheart exclusivity deal express scripts holding viekira paks annualized quarterly sales hit 22 billion fourth quarter 2015in february 2016 merck launched zepatier sales tepid 50 million first quarter industry watchers forecast could also billiondollar drug far abbvies mercks gains market share gilead sciences price better efficacy safety image source abbvie drug launched cost 12 weeks treatment 84000 forsovaldi 94500 harvoni abbvie priced viekira pak similarly sovaldi discounted prices significantly win exclusive use insurers relying express scripts formulary taking cues abbvie zepatier approval merck set wholesale price equivalent doses zepatier 54600 ostensibly merck also discounting price significantly win favor payers price war betweenabbvie merck gilead sciences hepatitis c drug sales flatlined q1 sovaldi harvoni revenue totaled 43 billion slightly lower 45 billion reported year ago leveling hepatitis c sales major drag gilead sciences share price past year epclusa could allow growth accelerate growth could come expense ofviekira pak zepatier viekira pak multidrugperday therapy often requiring coadministration ribavirin priorgeneration drug long list side effectsviekira pak delivers cure rates solidly 90 range however last fall fda required new label warning potential liver damage patients decompensated livers viekira paks dosing requirements burdensome arguably less appealing safetywise epclusa good shot outcompeting trials 12 weeks epclusa delivered 98 cure rates regardless diseases genotype common adverse events reported studies headache fatigue additionally 87 patients studied decompensated cirrhosis given epclusa plus ribavirin four patients discontinued treatment adverse events eplcusas efficacy safety profile could end giving edge viekira pak viekira pak may still hold big chunk market share express scripts decides restrict use epclusa zepatier may lucky doesnt enjoy level exclusivity viekira pak cure rates good overall achieving cure patients specific polymorphisms requires dosing last long 16 weeks also zepatiers potential cause spikes liver enzymes makes contraindicated use patients moderate severe liver disease scored childpugh classes b c polymorphisms occur 10 genotype 1 patients zepatier used decompensatedliver cases doctors might simply turn away prescribe epclusa fewer worriesepclusas high cure rates come regardless patient polymorphisms used patients childpugh classes b c epclusasbiggest advantage existing treatments approved use patients hepatitis cgenotypeviekira pak approved use genotype 1 patients zepatier approved use patients withgenotypes 1 4 gilead sciences charging 74500 12 weeks epclusa lower sovaldis list price gilead sciences advantages competitors suggest wont discount prices much sovaldi harvoni past gilead sciences management said wants position epclusa first genotype 2 3 therapy doesnt require coadministration ribavirin strategy suggests try limit much epclusa cannibalizes sales harvoni depending pricing plays genotype 1 impact viekira pak zepatier may somewhat limited nevertheless epclusa appears bestinclass solution hepatitis c status make top seller gilead sciences could position overdeliverin second half year would make shares worth buying article fda unsurprisingly approves gileads new hepatitis c drug originally appeared foolcom todd campbell owns shares gilead sciencestodd owns eb capital markets llc eb capitals clients may positions companies mentioned like article follow ontwitter goes handle ebcapital see articles like thisthe motley fool owns shares recommends express scripts gilead sciences 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 | 695 |
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<p>Apple (NASDAQ:AAPL) just unveiled the much-anticipated <a href="https://www.fool.com/investing/2017/09/12/10-biggest-announcements-from-apple-incs-iphone-x.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=0d04bedc-997b-11e7-a5ed-0050569d4be0&amp;utm_source=foxbusiness" type="external">iPhone X</a>&#160;(pronounced "iPhone 10"). It represents the next leap forward for Apple with its all-screen design, Face ID unlocking feature, and possibly the best camera in a smartphone yet.</p>
<p>Continue Reading Below</p>
<p>But Apple still has plenty of competition. Its biggest competitor, Samsung (NASDAQOTH:SSNLF), released its flagship Galaxy S8 model in the spring. The Galaxy S8 presents the biggest challenger for the iPhone X with the same display size (5.8") and similar specs.</p>
<p>In fact, the Galaxy S8 has a few unique features you won't find in the new iPhone X. Here are seven of the biggest differences.</p>
<p>A much lower price tag</p>
<p>Apple is positioning the iPhone X as a premium model, and it comes with a premium price. Consumers will have to pony up $999 for the 64 GB model of the iPhone X.</p>
<p>Samsung's premium model is the <a href="https://www.fool.com/investing/2017/08/03/samsung-galaxy-note8-specs-leaked.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=0d04bedc-997b-11e7-a5ed-0050569d4be0&amp;utm_source=foxbusiness" type="external">Galaxy Note</a>, which has just been released and comes with a price tag of $930. If you can do without the bigger screen, a stylus, and a few other premium features, you can get a Galaxy S8 for just $725. That's a pretty steep discount from the iPhone X.</p>
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<p>Fingerprint sensor</p>
<p>Apple had to make a design compromise when it designed the all-screen iPhone X. Without a home button, there was no place to hide the fingerprint sensor to support Touch ID. It's rumored that the reason Apple's ship date has been delayed to Nov. 3 is that the company tried, and failed, to put a fingerprint sensor under the OLED display. Thus iPhone X relies entirely on Face ID -- Apple's new face-scanning technology -- for biometric security.</p>
<p>The Galaxy S8 also features a nearly all-screen design with home and navigation buttons built into the software layer. But Samsung opted to place a fingerprint sensor on the back of the device, enabling fingerprint scanning. Many have complained, however, that the location of the sensor -- right next to the camera lens -- is hard to reach and can lead users to accidentally smudge the camera.</p>
<p>Iris scanner</p>
<p>As mentioned, Apple doesn't have a fingerprint sensor in the iPhone X, but it does provide a face scanner. And while Face ID appears extremely secure with its 3D scanning technology, it doesn't include iris scanning like the Galaxy S8.</p>
<p>The most secure way to lock and unlock the Galaxy S8 is with iris scanning. Samsung's face scanning technology uses 2D image recognition, so it's easily spoofed by photographs. Iris scanning is much more secure. That said, Samsung warns it might not work if you wear glasses or contacts, as they present a barrier to properly reading the iris. (Reports on the internet say it's usually not a problem.)</p>
<p>Meanwhile, Apple's Face ID scanner uses a neural network AI algorithm to recognize your face even if you put on eyewear or change your hairstyle, which is a nice solution to the problem while maintaining security.</p>
<p>Expandability</p>
<p>Aside from a place to plug in a lightning cable, there are no ports on the iPhone X. By contrast, the Galaxy S8 offers a headphone jack (because people still like using wired headphones) and a tray for a MicroSD card. The latter allows consumers to buy a device with less storage and expand it if necessary. Of course, Samsung is one of the companies that manufactures MicroSD cards, so it only makes sense that it offers S8 users the option to use one.</p>
<p>Curved screen</p>
<p>While both the iPhone X and Galaxy S8 feature screens that take up nearly the entire front of the phone, they have some big differences. The iPhone X screen has rounded corners, and it curves around the notch at the top of the phone that contains the front-facing camera and sensors. The Galaxy S8 screen has much less pronounced rounding at the corners, and the display wraps around the side edges of the phone.</p>
<p>Samsung also integrated some gestures into the curved edge displays. Swiping allows users to bring up their most used apps and contacts and to use its Smart Select feature to easily grab and share virtually anything that's on the screen.</p>
<p>Bixby</p>
<p>Bixby is Samsung's answer to Apple's Siri, and it represents a major reboot from S Voice. Bixby is more than just a voice assistant. It's built into the Galaxy S8's camera, providing augmented-reality features like real-time translation. It can recognize objects and search for them or purchase them for you, and it can also identify landmarks and reads QR codes.</p>
<p>Bixby is also used as the analog to Apple's Home Kit, allowing users to control various smart devices. For example, it can use the phone's GPS to turn the air conditioning back on.</p>
<p>Samsung Pay</p>
<p>Just as Apple has Apple Pay, Samsung has Samsung Pay. Similar to Apple Pay, Samsung Pay uses near field communications to transmit a secure token to payment terminals by keeping credit card information on the phone. Not every retailer is on board with NFC yet, so Samsung Pay can also use magnetic secure transmission to work on terminals that still rely on swiping credit cards.</p>
<p>Samsung Pay also comes with a rewards program. Users earn points for each purchase on top of their regular credit card rewards, providing an extra incentive to use Samsung Pay. Samsung also offers discounted gift cards through Samsung Pay, among other perks.</p>
<p>Samsung Galaxy S8 vs iPhone X</p>
<p>The Samsung Galaxy S8 has several features that compare favorably to the Apple iPhone X. But Apple has packed a lot of unique features into its top-of-the-line smartphone as well. Consumers may have a tough time deciding which of these high-end phones will replace the current rectangle in their pocket.</p>
<p>10 stocks we like better than Samsung 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=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=b332d114-8cb2-48de-b6ae-b1b131ff4f59&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=0d04bedc-997b-11e7-a5ed-0050569d4be0&amp;utm_source=foxbusiness" type="external">10 best stocks</a> for investors to buy right now... and Samsung 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 September 5, 2017</p>
<p><a href="http://my.fool.com/profile/TMFnCaffeine/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=0d04bedc-997b-11e7-a5ed-0050569d4be0&amp;utm_source=foxbusiness" type="external">Adam Levy</a> owns shares of Apple. The Motley Fool owns shares of and recommends Apple. 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=0d04bedc-997b-11e7-a5ed-0050569d4be0&amp;utm_source=foxbusiness" type="external">disclosure policy</a>.</p> | true | 0 | apple nasdaqaapl unveiled muchanticipated iphone x160pronounced iphone 10 represents next leap forward apple allscreen design face id unlocking feature possibly best camera smartphone yet continue reading apple still plenty competition biggest competitor samsung nasdaqothssnlf released flagship galaxy s8 model spring galaxy s8 presents biggest challenger iphone x display size 58 similar specs fact galaxy s8 unique features wont find new iphone x seven biggest differences much lower price tag apple positioning iphone x premium model comes premium price consumers pony 999 64 gb model iphone x samsungs premium model galaxy note released comes price tag 930 without bigger screen stylus premium features get galaxy s8 725 thats pretty steep discount iphone x advertisement fingerprint sensor apple make design compromise designed allscreen iphone x without home button place hide fingerprint sensor support touch id rumored reason apples ship date delayed nov 3 company tried failed put fingerprint sensor oled display thus iphone x relies entirely face id apples new facescanning technology biometric security galaxy s8 also features nearly allscreen design home navigation buttons built software layer samsung opted place fingerprint sensor back device enabling fingerprint scanning many complained however location sensor right next camera lens hard reach lead users accidentally smudge camera iris scanner mentioned apple doesnt fingerprint sensor iphone x provide face scanner face id appears extremely secure 3d scanning technology doesnt include iris scanning like galaxy s8 secure way lock unlock galaxy s8 iris scanning samsungs face scanning technology uses 2d image recognition easily spoofed photographs iris scanning much secure said samsung warns might work wear glasses contacts present barrier properly reading iris reports internet say usually problem meanwhile apples face id scanner uses neural network ai algorithm recognize face even put eyewear change hairstyle nice solution problem maintaining security expandability aside place plug lightning cable ports iphone x contrast galaxy s8 offers headphone jack people still like using wired headphones tray microsd card latter allows consumers buy device less storage expand necessary course samsung one companies manufactures microsd cards makes sense offers s8 users option use one curved screen iphone x galaxy s8 feature screens take nearly entire front phone big differences iphone x screen rounded corners curves around notch top phone contains frontfacing camera sensors galaxy s8 screen much less pronounced rounding corners display wraps around side edges phone samsung also integrated gestures curved edge displays swiping allows users bring used apps contacts use smart select feature easily grab share virtually anything thats screen bixby bixby samsungs answer apples siri represents major reboot voice bixby voice assistant built galaxy s8s camera providing augmentedreality features like realtime translation recognize objects search purchase also identify landmarks reads qr codes bixby also used analog apples home kit allowing users control various smart devices example use phones gps turn air conditioning back samsung pay apple apple pay samsung samsung pay similar apple pay samsung pay uses near field communications transmit secure token payment terminals keeping credit card information phone every retailer board nfc yet samsung pay also use magnetic secure transmission work terminals still rely swiping credit cards samsung pay also comes rewards program users earn points purchase top regular credit card rewards providing extra incentive use samsung pay samsung also offers discounted gift cards samsung pay among perks samsung galaxy s8 vs iphone x samsung galaxy s8 several features compare favorably apple iphone x apple packed lot unique features topoftheline smartphone well consumers may tough time deciding highend phones replace current rectangle pocket 10 stocks like better samsung 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 investors buy right samsung wasnt one thats right think 10 stocks even better buys click learn picks stock advisor returns september 5 2017 adam levy owns shares apple motley fool owns shares recommends apple motley fool disclosure policy | 641 |
<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 |
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<p>As the&#160;debate over <a href="" type="internal">which bathroom an individual should use</a> based on their sexual identity heats up, we are witnessing the ignorant and brash nature of state enforcement of these edicts come to a head.</p>
<p>It is not only a distraction and a means for the state to get involved in your bowel movements, but it paints the trans and gay community in a negative light by asserting there is some sexual stigma involved in relieving one’s bladder.</p>
<p>The end result of such obstinate legalese clouding the minds of the public is going to be state violence initiated against individuals who have caused zero harm.</p>
<p>As <a href="" type="internal">individuals argue over how much government should be in the bathroom</a>, nuclear environmental disasters are unfolding before our eyes. However, many Americans are too blinded by the blue glow of the television to notice.</p>
<p>According to a Missouri emergency plan recently distributed by St. Louis County officials, in recent months, <a href="" type="internal">a fire at the Bridgeton Landfill</a> is closing in on a nuclear waste dump. The landfill fire has been burning for over five years, and they have been unable to contain it thus far.</p>
<p>There are clouds of smoke that have been billowing from the site, making the air in parts of St. Louis heavily polluted. In 2013, Missouri Attorney General Chris Koster sued Republic Services, the company responsible for the landfill, charging the company with neglecting the site and harming the local environment.</p>
<p>Last year, city officials became concerned that the fire may reach the nearby West Lake Landfill, which is littered with decades worth of nuclear waste from government projects and weapons manufacturing. Remnants from the Manhattan Project and the cold war have been stuffed there for generations. The site has been under the control of the Environmental Protection Agency (EPA) since 1990, but they have not made any significant effort to clean up the waste.</p>
<p>In December of last year, the&#160; <a href="http://yosemite.epa.gov/opa/admpress.nsf/beebc0b489d357e08525735900400c2f/647ddd6b1dbb289f85257f2c006fd32a!OpenDocument" type="external">EPA announced</a>&#160;that it would install a physical barrier in an effort to isolate the nuclear waste. But the timeline given by the EPA said it could take up to a year to complete. Residents aren’t comforted by that timetable, and think the government, despite years of warning, has done too little to stave off a possible environmental disaster. They are right.</p>
<p>To add to the legitimacy of the residents’ worries were about the government’s timeline, the ground has yet to be broken, the fire is still smoldering, and the <a href="https://www.scribd.com/doc/310808801/West-Lake-Update-04-28-2016" type="external">EPA just finalized, on Thursday, an Administrative Settlement Agreement and Order on Consent</a>(Settlement) requiring Bridgeton Landfill, LLC to start work on the isolation barrier system at the West Lake Landfill Superfund Site.</p>
<p>Aside from the threat of the U.S. Military’s decades-old nuclear waste erupting into flames in the near future, there are also two nuclear reactors inside the United States, which have been leaking for months.</p>
<p>In Florida, a <a href="http://www.cleanenergy.org/2016/03/08/new-analysis-confirms-fpls-turkey-point-is-polluting-biscayne-aquifer-and-biscayne-national-park/" type="external">recent study commissioned by&#160;Miami-Dade County&#160;</a>concluded that the area’s four-decades-old nuclear power plants at Turkey Point are leaking polluted water into Biscayne Bay.</p>
<p>This has raised alarm among county officials and environmentalists that the plant, which sits on the coastline, is polluting the bay’s surface waters and its fragile ecosystem, reports the <a href="http://www.nytimes.com/2016/03/23/us/nuclear-plant-leak-threatens-drinking-water-wells-in-florida.html?_r=1" type="external">NY Times.</a> In the past two years, bay waters near the plant have had a large saltwater plume that is slowly moving toward wells several miles away that supply drinking water to millions of residents in Miami and the Florida Keys.</p>
<p>Samples taken during the study show everything from the deadly radioactive isotope, tritium, to elevated levels of salt, ammonia, and phosphorous. So far, according to the scientists conducting the study, the levels of tritium are too low to harm people. However, in December, and January, the levels were far higher than they should be in nearby ocean water which is a telling sign of a much larger underlying problem.</p>
<p>“We now know exactly where the pollution is coming from, and we have a tracer that shows it’s in the national park,” said Laura Reynolds, an environmental consultant who is working with the Tropical Audubon Society and the Southern Alliance for Clean Energy, which intend to file the lawsuit, according to the Times. “We are worried about the marine life there and the future of Biscayne Bay.”</p>
<p>Fifteen hundred miles north of the leaking reactors in Florida is the <a href="" type="internal">Indian Point nuclear power plant</a> in New York. Since the beginning of this year, <a href="http://thefreethoughtproject.com/65000-spike-radiation-york-nuclear-plant-worse-fukushima/" type="external">there’s been an uncontrollable radioactive flow from the Indian Point nuclear power plant continues leaking into groundwater</a>, which leads to the Hudson River, raising the specter of a Fukushima-like disaster only 25 miles from New York City.</p>
<p>The <a href="" type="internal">Indian Point nuclear plant</a> is located on the Hudson River and serves the electrical needs of an estimated 2 million people. In January, while preparing a reactor for refueling, workers accidentally spilled some contaminated water, containing the radioactive hydrogen isotope tritium, causing a massive radiation spike in groundwater monitoring wells, with one well’s radioactivity increasing by as much as 65,000 percent.</p>
<p>The tritium leak is the ninth in just the past year, four of which were severe enough to shut down the reactors. But the most recent leak, however, according to an assessment by the New York Department of State as part of its Coastal Zone Management Assessment, contains a variety of radioactive elements such as strontium-90, cesium-137, cobalt-60, and nickel-63, and isn’t limited to tritium contamination.</p>
<p>As the utility companies and government agencies continue to downplay the severity of these situations, the residents who live the closest to these spots are already feeling the effects.</p>
<p>According to a report by <a href="https://www.rt.com/usa/332566-indian-point-chernobyl-hudson/" type="external">RT</a>, Radiation and Public Health Project researchers compared the state and national cancer data from 1988-92 with three other five-year periods (1993-97, 1998-02, and 2003-07). The results, published in 2009, show the cancer rates going from 11 percent below the national average to 7 percent above in that timespan. Unexpected increases were detected in 19 out of 20 major types of cancer. Thyroid cancer registered the biggest increase, going from 13 percent below the national average to 51 percent above.</p>
<p>Sadly, it seems, government officials care more about locking people in cages for possessing arbitrary substances than they do about the potential for nuclear environmental disasters. As multiple Fukushima-like scenarios continue to unfold across the country, the media, who is largely beholden to the special interests behind these disasters, remain&#160;mum.</p>
<p>Instead of showing Americans the things that actually affect them, strawmen, red herrings, puppet politicians, and two-party talking points are shoved down our collective throats — and the majority of people are pacified. Until Americans change their preference for being lied to and stolen from, we can only expect more of the same.</p>
<p>Matt Agorist is an honorably discharged veteran of the USMC and former intelligence operator directly tasked by the NSA. This prior experience gives him unique insight into the world of government corruption and the American police state. Agorist has been an independent journalist for over a decade and has been featured on mainstream networks around the world.</p>
<p>Courtesy of <a href="http://thefreethoughtproject.com/americans-argue-bathroom-use-3-nuclear-disasters-unfolding/" type="external">The Free Thought Project</a></p>
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<p /> | true | 0 | the160debate bathroom individual use based sexual identity heats witnessing ignorant brash nature state enforcement edicts come head distraction means state get involved bowel movements paints trans gay community negative light asserting sexual stigma involved relieving ones bladder end result obstinate legalese clouding minds public going state violence initiated individuals caused zero harm individuals argue much government bathroom nuclear environmental disasters unfolding eyes however many americans blinded blue glow television notice according missouri emergency plan recently distributed st louis county officials recent months fire bridgeton landfill closing nuclear waste dump landfill fire burning five years unable contain thus far clouds smoke billowing site making air parts st louis heavily polluted 2013 missouri attorney general chris koster sued republic services company responsible landfill charging company neglecting site harming local environment last year city officials became concerned fire may reach nearby west lake landfill littered decades worth nuclear waste government projects weapons manufacturing remnants manhattan project cold war stuffed generations site control environmental protection agency epa since 1990 made significant effort clean waste december last year the160 epa announced160that would install physical barrier effort isolate nuclear waste timeline given epa said could take year complete residents arent comforted timetable think government despite years warning done little stave possible environmental disaster right add legitimacy residents worries governments timeline ground yet broken fire still smoldering epa finalized thursday administrative settlement agreement order consentsettlement requiring bridgeton landfill llc start work isolation barrier system west lake landfill superfund site aside threat us militarys decadesold nuclear waste erupting flames near future also two nuclear reactors inside united states leaking months florida recent study commissioned by160miamidade county160concluded areas fourdecadesold nuclear power plants turkey point leaking polluted water biscayne bay raised alarm among county officials environmentalists plant sits coastline polluting bays surface waters fragile ecosystem reports ny times past two years bay waters near plant large saltwater plume slowly moving toward wells several miles away supply drinking water millions residents miami florida keys samples taken study show everything deadly radioactive isotope tritium elevated levels salt ammonia phosphorous far according scientists conducting study levels tritium low harm people however december january levels far higher nearby ocean water telling sign much larger underlying problem know exactly pollution coming tracer shows national park said laura reynolds environmental consultant working tropical audubon society southern alliance clean energy intend file lawsuit according times worried marine life future biscayne bay fifteen hundred miles north leaking reactors florida indian point nuclear power plant new york since beginning year theres uncontrollable radioactive flow indian point nuclear power plant continues leaking groundwater leads hudson river raising specter fukushimalike disaster 25 miles new york city indian point nuclear plant located hudson river serves electrical needs estimated 2 million people january preparing reactor refueling workers accidentally spilled contaminated water containing radioactive hydrogen isotope tritium causing massive radiation spike groundwater monitoring wells one wells radioactivity increasing much 65000 percent tritium leak ninth past year four severe enough shut reactors recent leak however according assessment new york department state part coastal zone management assessment contains variety radioactive elements strontium90 cesium137 cobalt60 nickel63 isnt limited tritium contamination utility companies government agencies continue downplay severity situations residents live closest spots already feeling effects according report rt radiation public health project researchers compared state national cancer data 198892 three fiveyear periods 199397 199802 200307 results published 2009 show cancer rates going 11 percent national average 7 percent timespan unexpected increases detected 19 20 major types cancer thyroid cancer registered biggest increase going 13 percent national average 51 percent sadly seems government officials care locking people cages possessing arbitrary substances potential nuclear environmental disasters multiple fukushimalike scenarios continue unfold across country media largely beholden special interests behind disasters remain160mum instead showing americans things actually affect strawmen red herrings puppet politicians twoparty talking points shoved collective throats majority people pacified americans change preference lied stolen expect matt agorist honorably discharged veteran usmc former intelligence operator directly tasked nsa prior experience gives unique insight world government corruption american police state agorist independent journalist decade featured mainstream networks around world courtesy free thought project | 674 |
<p>The heirs of wealthy people and business owners in low-tax states are among those most likely to benefit from the tax overhaul proposed Thursday by Republicans in the House of Representatives.</p>
<p>Families who have children and few deductions are also expected to benefit.</p>
<p>Continue Reading Below</p>
<p>Who loses? Highly paid employees in high-tax states; future buyers of large homes or second homes; high-earning home sellers; people who take medical deductions; and future alimony payers, among others.</p>
<p>The plan fills in crucial blanks missing from earlier proposals, such as brackets and rates. The top rate would remain 39.6%, although the threshold rises to $1 million for married couples from $470,700 now. The bottom rate would move up to 12% from 10%.</p>
<p>The proposals outlined in the current bill could change significantly during the legislative process, but here is a rundown of changes that explains why certain groups would -- and wouldn't -- benefit.</p>
<p>Many owners of partnerships, limited-liability companies and S Corporations -- who currently pay tax on income at the owner's personal rate -- would get a tax cut as a result of the Republican plan. The top tax rate on a portion of that income, known as "pass-through income," would drop to 25% from 39.6%.</p>
<p>The very wealthy get a tax break on their estates. The bill would double an estate-tax exemption to $10 million from $5 million per person, plus inflation adjustments. This change wouldn't take effect until Jan. 1, 2018.</p>
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<p>Roberton Williams, an economist with the Tax Policy Center, estimates that the number of taxable estates could fall from about 5,000 a year to fewer than 2,000. The bill also ends the estate tax completely, starting in 2024.</p>
<p>Residents of some states are hurt by the loss of deductions. The plan eliminates virtually all itemized deductions other than for mortgage interest, some property taxes, and charitable gifts. It also eliminates other write-offs, such as for moving expenses and alimony for divorce decrees after 2017.</p>
<p>The loss of the deduction for state and local income or sales taxes would hit hardest in the six states that account for half the value of these deductions: California, New York, New Jersey, Maryland, Massachusetts, and Illinois, according to the Tax Foundation.</p>
<p>The deduction for property taxes would be capped at $10,000. Six states also get more than half the value of this deduction: California, New York, New Jersey, Texas, Illinois, and Florida, according to the Tax Foundation.</p>
<p>The deduction for medical expenses would also be repealed. Medical-expense write-offs are currently allowed only if they exceed 10% of annual income, so it is most useful to taxpayers with large unreimbursed costs -- such as for a nursing home or home health aides.</p>
<p>In the weeks before Thursday's announcement, many users of this break who are concerned about losing it contacted journalists and lawmakers with concern over the loss of this provision.</p>
<p>Home buyers and sellers face new restrictions. Under current law, taxpayers can deduct interest on up to $1 million mortgage debt for a first and second home.</p>
<p>For mortgages taken out after Nov. 2, other than refinancings, interest would only be deductible on $500,000 of debt, and only for a first home. The $1 million limit would continue to apply to existing mortgages, but only for a first home.</p>
<p>The bill would also restrict an exemption useful to many home sellers. Under current law, sellers who have lived in a home for two of the last five years don't owe capital-gains tax on $250,000 of profit if they are single or $500,000 for married couples. For example, if a married couple buys a home for $200,000 and sells it for $500,000, the $300,000 gain isn't taxable.</p>
<p>Families with few deductions could be in better shape. The "standard" deduction for filers who don't break out their deductions would roughly double, to $12,200 for single filers and $24,400 for married couples in 2018.</p>
<p>But the exemption of about $4,000 that every person gets under the current law would be repealed. The loss of the personal exemption would be a blow, but expanded credits could turn some losers into winners. The credit for children under 17 would increase from $1,000 to $1,600 for many. And a "family flexibility credit" of $300 for each family member who isn't a child would be in effect until 2023.</p>
<p>Some owners of partnerships, limited-liability companies, S corporations, and sole proprietorships, stand to benefit under the new plan. Such entities currently bypass corporate taxes and pay tax on income at the owner's personal rate, which is why they are called "pass-throughs."</p>
<p>These pass-through entities have surged in popularity in recent decades and now account for more than 40% of all business income. They include some very large private companies as well as smaller firms like car dealerships, manufacturers, and professional-service firms.</p>
<p>The top tax rate on a portion of pass-through income -- typically 30% -- would drop from 39.6% to 25%. That won't help business owners earning less than $200,000 (singles) or $260,000 (married couples). But it would reduce the effective top tax rate for many pass-through owners earning more.</p>
<p>"Service" providers such as doctors, lawyers, accountants or architects are generally excluded from getting the lower rate.</p>
<p>Following the change, many pass-through owners will weigh which is more beneficial to their bottom line: stay a pass-through business or convert into a traditional "C"-corporation. It is likely one of these options would give them a lower tax rate than currently.</p>
<p>Should an owner convert to a C-corporation, the firm would owe corporate tax. The plan would drop the top corporate rate to 20% from 35%.</p>
<p>"This bill could encourage pass-through owners to switch into corporate form to get a lower tax rate on current earnings and defer taxes on dividend payouts," says Steven Rosenthal, an attorney with the Tax Policy Center.</p>
<p>Write to Laura Saunders at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>November 02, 2017 20:48 ET (00:48 GMT)</p> | true | 0 | heirs wealthy people business owners lowtax states among likely benefit tax overhaul proposed thursday republicans house representatives families children deductions also expected benefit continue reading loses highly paid employees hightax states future buyers large homes second homes highearning home sellers people take medical deductions future alimony payers among others plan fills crucial blanks missing earlier proposals brackets rates top rate would remain 396 although threshold rises 1 million married couples 470700 bottom rate would move 12 10 proposals outlined current bill could change significantly legislative process rundown changes explains certain groups would wouldnt benefit many owners partnerships limitedliability companies corporations currently pay tax income owners personal rate would get tax cut result republican plan top tax rate portion income known passthrough income would drop 25 396 wealthy get tax break estates bill would double estatetax exemption 10 million 5 million per person plus inflation adjustments change wouldnt take effect jan 1 2018 advertisement roberton williams economist tax policy center estimates number taxable estates could fall 5000 year fewer 2000 bill also ends estate tax completely starting 2024 residents states hurt loss deductions plan eliminates virtually itemized deductions mortgage interest property taxes charitable gifts also eliminates writeoffs moving expenses alimony divorce decrees 2017 loss deduction state local income sales taxes would hit hardest six states account half value deductions california new york new jersey maryland massachusetts illinois according tax foundation deduction property taxes would capped 10000 six states also get half value deduction california new york new jersey texas illinois florida according tax foundation deduction medical expenses would also repealed medicalexpense writeoffs currently allowed exceed 10 annual income useful taxpayers large unreimbursed costs nursing home home health aides weeks thursdays announcement many users break concerned losing contacted journalists lawmakers concern loss provision home buyers sellers face new restrictions current law taxpayers deduct interest 1 million mortgage debt first second home mortgages taken nov 2 refinancings interest would deductible 500000 debt first home 1 million limit would continue apply existing mortgages first home bill would also restrict exemption useful many home sellers current law sellers lived home two last five years dont owe capitalgains tax 250000 profit single 500000 married couples example married couple buys home 200000 sells 500000 300000 gain isnt taxable families deductions could better shape standard deduction filers dont break deductions would roughly double 12200 single filers 24400 married couples 2018 exemption 4000 every person gets current law would repealed loss personal exemption would blow expanded credits could turn losers winners credit children 17 would increase 1000 1600 many family flexibility credit 300 family member isnt child would effect 2023 owners partnerships limitedliability companies corporations sole proprietorships stand benefit new plan entities currently bypass corporate taxes pay tax income owners personal rate called passthroughs passthrough entities surged popularity recent decades account 40 business income include large private companies well smaller firms like car dealerships manufacturers professionalservice firms top tax rate portion passthrough income typically 30 would drop 396 25 wont help business owners earning less 200000 singles 260000 married couples would reduce effective top tax rate many passthrough owners earning service providers doctors lawyers accountants architects generally excluded getting lower rate following change many passthrough owners weigh beneficial bottom line stay passthrough business convert traditional ccorporation likely one options would give lower tax rate currently owner convert ccorporation firm would owe corporate tax plan would drop top corporate rate 20 35 bill could encourage passthrough owners switch corporate form get lower tax rate current earnings defer taxes dividend payouts says steven rosenthal attorney tax policy center write laura saunders laurasaunderswsjcom end dow jones newswires november 02 2017 2048 et 0048 gmt | 602 |
<p>TOP STORIES</p>
<p>Value Meals Drive McDonald's Sales - 2nd Update</p>
<p>Continue Reading Below</p>
<p>McDonald's Corp. gained sales again by luring core customers to its cheapest meals and drinks.</p>
<p>The burger giant attributed U.S. sales growth in the fourth quarter to a "McPick 2" meal deal and low-price beverages, as well as to higher-priced Buttermilk Crispy Tenders. The chain introduced a new nationwide value menu this month with items priced at $1, $2 and $3, hoping consumers drawn in for cheap sodas and burgers will also order more expensive items.</p>
<p>STORIES OF INTEREST</p>
<p>Food Union Hails USDA Move on Chicken Plants -- Market Talk</p>
<p>12:06 ET -- United Food and Commercial Workers International Union, which represents meat plant employees, claims victory after the U.S. Department of Agriculture rejected a U.S. chicken industry petition to eliminate poultry processing line speed caps in meat plants. The organization and other consumer groups opposed the request, saying it could make food less safe and pose risks to meat plant workers, who already deal with higher rates of injury than other industries. The union says it remains "concerned" that the USDA plans to let some chicken plants apply to run processing lines at speeds up to 175 birds a minute, with most currently capped at 140. ([email protected]; @jacobbunge)</p>
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<p>USDA Pumps Brakes on Faster Chicken Processing -- Market Talk</p>
<p>12:01 ET -- The U.S. Department of Agriculture denies a request by the National Chicken Council to lift all limits on how fast poultry plants can process birds--but the agency says it does plan to let some plants speed up. USDA's Food Safety and Inspection Service says the chicken industry group's Sept. 1 petition to eliminate speed limits in chicken plants didn't demonstrate that inspectors could effectively check each carcass for safety at speeds beyond 175 birds a minute--nearly three chickens a second. But FSIS said that the agency plans to lay out criteria for poultry plants, most of which are limited to processing 140 chickens each minute, to run at speeds up to 175, as long as they demonstrate how they will assess food safety and meet other criteria. ([email protected]; @jacobbunge)</p>
<p>Wheat Futures Pop on Plains Drought</p>
<p>A drought in the Great Plains sparked a rally in wheat prices on Tuesday.</p>
<p>The U.S. Department of Agriculture said that the condition of the hard red winter wheat crop, primarily grown in southern Plains states like Kansas, dropped sharply as farmers in the region struggle through dry conditions.</p>
<p>FUTURES MARKETS</p>
<p>Live Cattle Futures Ease</p>
<p>Cattle futures were mixed on Tuesday, easing off multimonth highs.</p>
<p>The futures market started the week by hitting a two-month high, after cash prices for physical cattle rose more than expected. But analysts say futures bumped up against selling pressure after falling from those highs, with chart signals suggesting to traders that prices were headed lower.</p>
<p>CASH MARKETS</p>
<p>Zumbrota, Minn Hog Steady At $44.00 - Jan 30</p>
<p>Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady at $44.00 a hundredweight. Sow prices are steady. Sows weighing 400-450 pounds are at $43.00, 450-500 pounds are $43.00 and those over 500 pounds are $45.00-$47.00.</p>
<p>The day's total run is estimated at 180 head.</p>
<p>Prices are provided by the Central Livestock Association.</p>
<p>Estimated U.S. Pork Packer Margin Index - Jan 30</p>
<p>This report reflects U.S. pork packer processing margins. The margin indices</p>
<p>are calculated using current cash hog or carcass values and wholesale pork</p>
<p>cutout values and may not reflect actual margins at the plants. These</p>
<p>estimates reflect the general health of the industry and are not meant to</p>
<p>be indicative of any particular company or plant.</p>
<p>Source: USDA, based on Wall Street Journal calculations</p>
<p>All figures are on a per-head basis.</p>
<p>Date Standard Margin Estimated margin</p>
<p>Operating Index at vertically -</p>
<p>integrated operations</p>
<p>*</p>
<p>Jan 30 +$20.58 +$ 45.01</p>
<p>Jan 29 +$20.88 +$ 45.57</p>
<p>Jan 26 +$22.51 +$ 45.96</p>
<p>* Based on Iowa State University's latest estimated cost of production.</p>
<p>A positive number indicates a processing margin above the cost of</p>
<p>production of the animals.</p>
<p>Beef-O-Meter</p>
<p>This report compares the USDA's latest beef carcass composite</p>
<p>values as a percentage of their respective year-ago prices.</p>
<p>Beef</p>
<p>For Today Choice 108.5</p>
<p>(Percent of Year-Ago) Select 108.2</p>
<p>USDA Boxed Beef, Pork Reports</p>
<p>Wholesale choice-grade beef prices Tuesday rose 58 cents per hundred pounds, to $209.69, according to the USDA. Select-grade prices rose 24 cents per hundred pounds, to $204.37. The total load count was 109. Wholesale pork prices fell 26 cents, to $81.34 a hundred pounds, based on Omaha, Neb., price quotes.</p>
<p>(END) Dow Jones Newswires</p>
<p>January 30, 2018 17:31 ET (22:31 GMT)</p> | true | 0 | top stories value meals drive mcdonalds sales 2nd update continue reading mcdonalds corp gained sales luring core customers cheapest meals drinks burger giant attributed us sales growth fourth quarter mcpick 2 meal deal lowprice beverages well higherpriced buttermilk crispy tenders chain introduced new nationwide value menu month items priced 1 2 3 hoping consumers drawn cheap sodas burgers also order expensive items stories interest food union hails usda move chicken plants market talk 1206 et united food commercial workers international union represents meat plant employees claims victory us department agriculture rejected us chicken industry petition eliminate poultry processing line speed caps meat plants organization consumer groups opposed request saying could make food less safe pose risks meat plant workers already deal higher rates injury industries union says remains concerned usda plans let chicken plants apply run processing lines speeds 175 birds minute currently capped 140 jacobbungewsjcom jacobbunge advertisement usda pumps brakes faster chicken processing market talk 1201 et us department agriculture denies request national chicken council lift limits fast poultry plants process birdsbut agency says plan let plants speed usdas food safety inspection service says chicken industry groups sept 1 petition eliminate speed limits chicken plants didnt demonstrate inspectors could effectively check carcass safety speeds beyond 175 birds minutenearly three chickens second fsis said agency plans lay criteria poultry plants limited processing 140 chickens minute run speeds 175 long demonstrate assess food safety meet criteria jacobbungewsjcom jacobbunge wheat futures pop plains drought drought great plains sparked rally wheat prices tuesday us department agriculture said condition hard red winter wheat crop primarily grown southern plains states like kansas dropped sharply farmers region struggle dry conditions futures markets live cattle futures ease cattle futures mixed tuesday easing multimonth highs futures market started week hitting twomonth high cash prices physical cattle rose expected analysts say futures bumped selling pressure falling highs chart signals suggesting traders prices headed lower cash markets zumbrota minn hog steady 4400 jan 30 barrow gilt prices zumbrota minn livestock market today steady 4400 hundredweight sow prices steady sows weighing 400450 pounds 4300 450500 pounds 4300 500 pounds 45004700 days total run estimated 180 head prices provided central livestock association estimated us pork packer margin index jan 30 report reflects us pork packer processing margins margin indices calculated using current cash hog carcass values wholesale pork cutout values may reflect actual margins plants estimates reflect general health industry meant indicative particular company plant source usda based wall street journal calculations figures perhead basis date standard margin estimated margin operating index vertically integrated operations jan 30 2058 4501 jan 29 2088 4557 jan 26 2251 4596 based iowa state universitys latest estimated cost production positive number indicates processing margin cost production animals beefometer report compares usdas latest beef carcass composite values percentage respective yearago prices beef today choice 1085 percent yearago select 1082 usda boxed beef pork reports wholesale choicegrade beef prices tuesday rose 58 cents per hundred pounds 20969 according usda selectgrade prices rose 24 cents per hundred pounds 20437 total load count 109 wholesale pork prices fell 26 cents 8134 hundred pounds based omaha neb price quotes end dow jones newswires january 30 2018 1731 et 2231 gmt | 529 |
<p>Amazon.com Inc. has suspended the head of its entertainment studio, Roy Price, in the wake of allegations of mismanagement, sexual harassment and a close business relationship with Harvey Weinstein.</p>
<p>"Roy Price is on leave of absence effective immediately," said Amazon spokesman Craig Berman.</p>
<p>Continue Reading Below</p>
<p>Mr. Rice's suspension comes soon after a female producer went public about a 2015 sexual harassment complaint she made against him and actress Rose McGowan unleashed a storm of criticism at the company for being in business with Harvey Weinstein, the former Weinstein Co. co-chairman who was ousted over the weekend amid numerous allegations of sexual harassment.</p>
<p>Isa Dick Hackett, a producer on the Amazon program "The Man in the High Castle" confirmed in an interview that Mr. Price made crude remarks toward her in July of 2015 while the two were on their way to a party and then proceeded to continue making lewd suggestions to her at the event.</p>
<p>Reached by phone, Mr. Price declined to comment.</p>
<p>Amazon.com Inc. has suspended the head of its entertainment studio, Roy Price, in the wake of allegations of mismanagement and sexual harassment and criticism of his close business relationship with movie producer Harvey Weinstein.</p>
<p>"Roy Price is on leave of absence effective immediately," said Amazon spokesman Craig Berman. He didn't provide an explanation of the move.</p>
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<p>Mr. Price's suspension comes soon after a female producer went public about a 2015 sexual-harassment complaint she made against him and after actress Rose McGowan unleashed a storm of criticism at the company for being in business with Mr. Weinstein, the former Weinstein Co. co-chairman who was ousted over the weekend amid numerous allegations of sexual harassment.</p>
<p>Isa Dick Hackett, a producer on the Amazon program "The Man in the High Castle," said in an interview Thursday that Mr. Price made crude remarks toward her in July 2015 while the two were on their way to a party and then continued to make lewd suggestions to her at the event.</p>
<p>Reached by phone, Mr. Price declined to comment.</p>
<p>Mr. Price allegedly boasted about his genitalia to her in a car and later at the party whispered in her ear that they should engage in a specific sex act, she said. Ms. Hackett first publicly accused Mr. Price of such behavior to the Hollywood Reporter.</p>
<p>Ms. Hackett the next day after the 2015 incident reported it to other executives at Amazon, and an outside investigator contacted her as part of an inquiry, she said. Ms. Hackett said she never received an explanation as to the results of the investigation.</p>
<p>In a statement to The Wall Street Journal, Ms. Hackett said, "it would be wonderful if companies could lead by example by establishing a zero-tolerance policy for harassment." She said she was inspired by the women who came forward to speak out about Mr. Weinstein and hoped that sharing her story "inspires others, particularly those who cannot speak out for themselves."</p>
<p>Amazon is developing two television series that would be co-productions with Weinstein Co. In addition, Weinstein Co. earlier this year purchased a script written by Mr. Price's fiancée, Lila Feinberg. The Amazon executive had previously pressured staffers at his company to buy the script, before a conflict-of-interest review caused the company to drop the project, called "12 Parties," according to Amazon Studios employees.</p>
<p>Mr. Berman said Amazon is "reviewing our options for the projects we have with the Weinstein Co."</p>
<p>Weinstein Co. executives didn't respond to questions about whether they knew Ms. Feinberg was Mr. Price's fiancée when they bought the project.</p>
<p>Ms. McGowan, who has been very vocal on Twitter about Mr. Weinstein, who she has said raped her in 1997, on Thursday criticized Amazon for being in business with Weinstein Co. and implored Amazon Chief Executive Jeff Bezos to cut ties with the production company.</p>
<p>A spokeswoman for Harvey Weinstein said in a statement, "Any allegations of non-consensual sex are unequivocally denied by Mr. Weinstein."</p>
<p>Amazon Studios for months has been struggling with a host of problems, including low viewership for some of its signature programs, flagging employee morale, challenges shifting its strategy and criticisms from top Hollywood talent.</p>
<p>David E. Kelley, the Emmy-winning creator of "Boston Legal" and "Big Little Lies," who also created the Amazon series "Goliath," told The Wall Street Journal that Amazon's entertainment business is "a bit of a 'Gong Show.'"</p>
<p>Shawn Ryan, the creator of "The Shield" who also worked on an Amazon program, said the company's practices "put everything in chaos" and aren't "artist friendly."</p>
<p>The suspension of Mr. Price is the latest fallout from the Harvey Weinstein scandal that has preoccupied Hollywood for the last several days. Since disclosures in the New York Times and New Yorker of multiple allegations of sexual harassment and assault by the movie mogul, other stars have come forward to share their own stories or to distance themselves from Mr. Weinstein.</p>
<p>Albert Cheng, chief operating officer of Amazon Studios, will run the division on an interim basis, said a person at the company.</p>
<p>Amazon Studios is holding a town hall for employees Friday morning to discuss Mr. Price's leave of absence, the person said.</p>
<p>Write to Ben Fritz at [email protected] and Joe Flint at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>October 12, 2017 22:46 ET (02:46 GMT)</p> | true | 0 | amazoncom inc suspended head entertainment studio roy price wake allegations mismanagement sexual harassment close business relationship harvey weinstein roy price leave absence effective immediately said amazon spokesman craig berman continue reading mr rices suspension comes soon female producer went public 2015 sexual harassment complaint made actress rose mcgowan unleashed storm criticism company business harvey weinstein former weinstein co cochairman ousted weekend amid numerous allegations sexual harassment isa dick hackett producer amazon program man high castle confirmed interview mr price made crude remarks toward july 2015 two way party proceeded continue making lewd suggestions event reached phone mr price declined comment amazoncom inc suspended head entertainment studio roy price wake allegations mismanagement sexual harassment criticism close business relationship movie producer harvey weinstein roy price leave absence effective immediately said amazon spokesman craig berman didnt provide explanation move advertisement mr prices suspension comes soon female producer went public 2015 sexualharassment complaint made actress rose mcgowan unleashed storm criticism company business mr weinstein former weinstein co cochairman ousted weekend amid numerous allegations sexual harassment isa dick hackett producer amazon program man high castle said interview thursday mr price made crude remarks toward july 2015 two way party continued make lewd suggestions event reached phone mr price declined comment mr price allegedly boasted genitalia car later party whispered ear engage specific sex act said ms hackett first publicly accused mr price behavior hollywood reporter ms hackett next day 2015 incident reported executives amazon outside investigator contacted part inquiry said ms hackett said never received explanation results investigation statement wall street journal ms hackett said would wonderful companies could lead example establishing zerotolerance policy harassment said inspired women came forward speak mr weinstein hoped sharing story inspires others particularly speak amazon developing two television series would coproductions weinstein co addition weinstein co earlier year purchased script written mr prices fiancée lila feinberg amazon executive previously pressured staffers company buy script conflictofinterest review caused company drop project called 12 parties according amazon studios employees mr berman said amazon reviewing options projects weinstein co weinstein co executives didnt respond questions whether knew ms feinberg mr prices fiancée bought project ms mcgowan vocal twitter mr weinstein said raped 1997 thursday criticized amazon business weinstein co implored amazon chief executive jeff bezos cut ties production company spokeswoman harvey weinstein said statement allegations nonconsensual sex unequivocally denied mr weinstein amazon studios months struggling host problems including low viewership signature programs flagging employee morale challenges shifting strategy criticisms top hollywood talent david e kelley emmywinning creator boston legal big little lies also created amazon series goliath told wall street journal amazons entertainment business bit gong show shawn ryan creator shield also worked amazon program said companys practices put everything chaos arent artist friendly suspension mr price latest fallout harvey weinstein scandal preoccupied hollywood last several days since disclosures new york times new yorker multiple allegations sexual harassment assault movie mogul stars come forward share stories distance mr weinstein albert cheng chief operating officer amazon studios run division interim basis said person company amazon studios holding town hall employees friday morning discuss mr prices leave absence person said write ben fritz benfritzwsjcom joe flint joeflintwsjcom end dow jones newswires october 12 2017 2246 et 0246 gmt | 534 |
<p />
<p>Donald Trump really has no clue what he is talking about sometimes. &#160;At best it is annoying and at worst it is harmful.</p>
<p>What I am referring to in this case is his remarks concerning the Supreme Court under another Clinton Administration.</p>
<p>In case you haven’t heard, at rally in Wilmington, North Carolina on Tuesday, Trump had this to say about the future of the courts under Clinton:</p>
<p>“By the way if she gets to pick her judges, nothing you can do, folks. Although the Second Amendment people, maybe there is, I don’t know.”</p>
<p>He says it in his slick used car salesmen kind of way finishing with “i don’t know” shoulder shrug and smug grin, telling you exactly that he knows but it wouldn’t be proper to say so.</p>
<p>So basically saying that if Hillary Clinton is elected, “Second Amendment people” should take their guns and shoot her.</p>
<p>After the fallout over his comments both campaigns went into full spin mode. &#160;With the Trump campaign trying to backtrack and saying that the Donald was talking about 2nd Amendment people coming together and voting for Trump to keep Hillary from the White House.</p>
<p>I hate when people think I’m stupid.</p>
<p>Trump OBVIOUSLY was talking about Hilary Clinton ALL READY being president and that no one could do anything about stopping her from packing the courts with left wing radicals except gun owners who might take extreme measures. &#160;Trump knew what he was saying, he was dangling the same red meat that plays to the crowd that he was during the primary. &#160;Except now, more people are watching and his “flipping the switch” on becoming more presidential is no so clearly a pipe dream.</p>
<p>Clinton’s campaign is no less laughable. &#160;The campaign released the following statement:</p>
<p>“This is simple — what Trump is saying is dangerous. A person seeking to be the President of the United States should not suggest violence in any way.”</p>
<p>First of wrong, their premise is wrong. &#160;Somethings are worth fighting for with violence, the least of which is not casting off the yolk of tyranny. &#160;But I’ll get to that in a second.</p>
<p>Secondly, I hate hypocrites.</p>
<p>Hillary Clinton has used a shroud of terror and violence to hold onto whatever power she has clawed and scrabbled together over the past 3 decades, using with broken lives and dead bodies in her wake.</p>
<p><a href="" type="internal">The Bloody Hands of Hillary Clinton (Part 1</a>)</p>
<p><a href="" type="internal">The Bloody Hands of Hillary Clinton (Part 2)</a></p>
<p><a href="" type="internal">The Bloody Hands of Hillary Clinton (Part 3)</a></p>
<p>So, Clinton campaign, let’s not talk about a person’s hypothetical of violence when your candidate is awash in the blood of innocents.</p>
<p>With all that being said, let’s get to what I meant in the title of this article.</p>
<p>What was right about what Donald Trump said?</p>
<p>What was right was the notion of what the 2nd Amendment actually is intended for. &#160;It is an understanding of the God given right that should it be necessary the people will have the means in which to deal with tyrants. &#160;Tyrants who would tax them into poverty, strip them of their rights, jail them unfairly, impose their own will to the detriment of the people and enrich themselves on those peoples suffering.</p>
<p>The 2nd Amendment is the fail-safe to end such oppression and tyrannical rule.</p>
<p>That the day may come when patriots must once again refresh&#160;the tree of liberty with the blood of tyrants and patriots alike is in the very spirit of the 2nd Amendment. &#160;Trump was right about. &#160;And all the lefties who would see a nation of cowards with no free will but to serve the progressive oligarchy have their panties in a bunch now because someone (even doing it poorly) suggested in public the true solution to tyranny in America. &#160;Tyranny that progressive radicals would welcome by the way. &#160;That’s why lefties hate guns so much. &#160;It is the one true obstacle standing in their way of total control.</p>
<p>Now the other shoe drops.</p>
<p>What was wrong&#160;about what Donald Trump said?</p>
<p>Trump made light of the seriousness that such actions would call for and what they would mean. &#160;Not to mention giving the left more ammunition to paint gun owners as whacked out gun nuts ready to resort to violence as the first option.</p>
<p>Hillary Clinton is an absolute nightmare and will most likely destroy this country. &#160;She will do everything in her power to a)promote herself and keep that power and b)push forward her progressively tyrannical ideology.</p>
<p>With that being said, the first action is not to put a bullet in her head. &#160;I know, I know…odd thing to hear from a guy who runs Bullets First but its the truth. &#160;Left wing extremists believe in pre-crime punishment and thought crimes.</p>
<p>I’m not saying the day won’t come when patriots must take up arms and cast down another tyrant, but there are things to do first. &#160;You don’t like Clinton, get a congress that will oppose her. &#160;I’m not talking about milquetoast RINO’s. &#160;I’m talking about actually PATRIOTS who will not kow tow to party, will not go along to get along and who will put the people first.</p>
<p>Bill Clinton was a dangerous president too those first 2 years he was in, but with Newt Gingrich leading a empowered and more Republican party in 1994 made a contract with America and Clinton had to kneel to the will of the people or get absolutely nothing done.</p>
<p>My point is, that violence isn’t the answer…UNTIL it’s the answer. &#160;And when it is the answer, like when the government is coming to take your guns, then by all means, bullets first.</p>
<p>For Trump to so casually talk about 2nd Amendment people dealing with Clinton after she is elected is wrong. &#160;It is not something that should be said so glibly for cheers and grandstanding.</p>
<p>It is a truth that exists when the tyrant leaves no other recourse.</p>
<p>It is a solemn duty of the free and should be treated as such.</p>
<p>&#160;</p>
<p />
<p />
<p>&#160;</p>
<p>We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.</p> | true | 0 | donald trump really clue talking sometimes 160at best annoying worst harmful referring case remarks concerning supreme court another clinton administration case havent heard rally wilmington north carolina tuesday trump say future courts clinton way gets pick judges nothing folks although second amendment people maybe dont know says slick used car salesmen kind way finishing dont know shoulder shrug smug grin telling exactly knows wouldnt proper say basically saying hillary clinton elected second amendment people take guns shoot fallout comments campaigns went full spin mode 160with trump campaign trying backtrack saying donald talking 2nd amendment people coming together voting trump keep hillary white house hate people think im stupid trump obviously talking hilary clinton ready president one could anything stopping packing courts left wing radicals except gun owners might take extreme measures 160trump knew saying dangling red meat plays crowd primary 160except people watching flipping switch becoming presidential clearly pipe dream clintons campaign less laughable 160the campaign released following statement simple trump saying dangerous person seeking president united states suggest violence way first wrong premise wrong 160somethings worth fighting violence least casting yolk tyranny 160but ill get second secondly hate hypocrites hillary clinton used shroud terror violence hold onto whatever power clawed scrabbled together past 3 decades using broken lives dead bodies wake bloody hands hillary clinton part 1 bloody hands hillary clinton part 2 bloody hands hillary clinton part 3 clinton campaign lets talk persons hypothetical violence candidate awash blood innocents said lets get meant title article right donald trump said right notion 2nd amendment actually intended 160it understanding god given right necessary people means deal tyrants 160tyrants would tax poverty strip rights jail unfairly impose detriment people enrich peoples suffering 2nd amendment failsafe end oppression tyrannical rule day may come patriots must refresh160the tree liberty blood tyrants patriots alike spirit 2nd amendment 160trump right 160and lefties would see nation cowards free serve progressive oligarchy panties bunch someone even poorly suggested public true solution tyranny america 160tyranny progressive radicals would welcome way 160thats lefties hate guns much 160it one true obstacle standing way total control shoe drops wrong160about donald trump said trump made light seriousness actions would call would mean 160not mention giving left ammunition paint gun owners whacked gun nuts ready resort violence first option hillary clinton absolute nightmare likely destroy country 160she everything power apromote keep power bpush forward progressively tyrannical ideology said first action put bullet head 160i know knowodd thing hear guy runs bullets first truth 160left wing extremists believe precrime punishment thought crimes im saying day wont come patriots must take arms cast another tyrant things first 160you dont like clinton get congress oppose 160im talking milquetoast rinos 160im talking actually patriots kow tow party go along get along put people first bill clinton dangerous president first 2 years newt gingrich leading empowered republican party 1994 made contract america clinton kneel people get absolutely nothing done point violence isnt answeruntil answer 160and answer like government coming take guns means bullets first trump casually talk 2nd amendment people dealing clinton elected wrong 160it something said glibly cheers grandstanding truth exists tyrant leaves recourse solemn duty free treated 160 160 tolerance comments containing violence racism vulgarity profanity caps discourteous behavior thank partnering us maintain courteous useful public environment engage reasonable discourse | 544 |
<p>From a distance, the northern shores of Baffin Island in the Arctic appear barren — a craggy world of snow-capped peaks and glaciers surrounded by a sea of floating ice even in the midst of summer.</p>
<p>Yet beneath the forbidding surface of the world's fifth largest island lies an exceptionally pure strain of iron ore, and the Baffinland mine is believed to hold enough of it to feed smelters for decades.</p>
<p>Continue Reading Below</p>
<p>As climate change pushes the ice a little farther north each year, it is spurring talk of a gold rush in the remote Arctic for abundant natural resources, prized shipping routes and business opportunities in tourism and fishing. The Arctic, including the fabled Northwest Passage between the Atlantic and the Pacific, is among the last regions on earth to remain largely unexplored. In April, U.S. President Donald Trump signed an executive order to reverse Obama-era restrictions on oil drilling.</p>
<p>However, experts say there remain many obstacles to reaping the riches once blocked by the ice.</p>
<p>The Associated Press took a first-hand look at the region on a month-long, 10,000-kilometer (6,200-mile) journey aboard the Finnish icebreaker MSV Nordica, along with researchers specializing in Arctic development.</p>
<p>"As the world demand for raw materials is ever increasing, and (with) a realization that a large part of the unexplored deposits are in the Arctic, there is a natural shift to focus on that area," said Mads Boye Peterson, head of Denmark's Nordic Bulk Carriers Shipping.</p>
<p>Peterson's company sent a freighter through the Northwest Passage four years ago to show the route can be used to haul cargo in summer. However, he also noted that rising temperatures make operations harder because moving floes are less predictable than unbroken sheets of ice.</p>
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<p>"On the surface it might look like a slam dunk," he said. "But it's actually a lot more complicated than just something you decide to do overnight."</p>
<p>The U.S. Geological Survey has estimated that up to 30 percent of the world's undiscovered gas and 13 percent of oil waiting to be found are inside the Arctic Circle. Precious minerals also slumber beneath the icy surface, along with rare earth elements, lithium and cobalt, used in batteries for electric cars and handheld devices, said Morten Smelror, director of the Geological Survey of Norway.</p>
<p>"The Arctic is certainly among the last frontiers with respect to undiscovered mineral resources, along with the deep oceans," said Smelror.</p>
<p>The geography also opens up new opportunities. Sailing through the Northwest Passage could potentially cut the distance from East Asia to Western Europe by more than 10,000 kilometers (6,200 miles), compared with the traditional route through the Panama Canal, offering huge fuel savings.</p>
<p>The battle for the Arctic is being fought by geologists and legions of lawyers.</p>
<p>Greenland has staked its claim to the Lomonosov Ridge beneath the Arctic Sea, which would greatly extend its rights to the sea bed for possible mining. Russia contests the claim. Russia boldly planted an underwater flag at the North Pole 10 years ago, and has been expanding infrastructure along its northern coast.</p>
<p>Canada contends the Arctic archipelago's waters are its internal waters, and has stepped up its presence in the region, including creating a new Arctic research center. The United States contests Canada's claim, which would give Ottawa the right to stop ships from freely traveling through the Northwest Passage.</p>
<p>Some smaller firms are pressing ahead. The Alaska-based company Quintillion is laying a fiber optic cable through the Northwest Passage to provide high-speed Internet traffic to local communities and an additional link between London and Tokyo.</p>
<p>The growth in adventure tourism and the lengthening summer season have also produced a surge of traffic. Last year, the cruise ship Crystal Serenity with 500 crew and 1,100 passengers paying at least $22,000 each sailed through the passage. Part of the revenue goes to local communities whose hunting grounds and travel routes might be disrupted.</p>
<p>Some Inuit are hoping for new economic opportunities from the region's growing fishing industry.</p>
<p>"Money-wise it's great," said Maatiusi Manning, a 33-year-old Inuk from Baffin Island. "It's going to help a lot of families."</p>
<p>Climate change is even opening new avenues in agriculture. Mette Bendixen, a climate researcher at the University of Copenhagen, projects that global warming will extend the growing season by two months.</p>
<p>"Not many people know that potatoes, strawberries are grown in southern Greenland," he said.</p>
<p>Despite its promise, several challenges are holding back Arctic development.</p>
<p>The search for fossil fuels above North America has slowed in recent years, partly because of low oil prices and public pressure. Shell relinquished most of its federal offshore leases in Alaska's Chukchi Sea last year, after pouring billions of dollars into exploration efforts. Former Shell leases in the neighboring Beaufort Sea have been taken over by an Alaska Native-owned company.</p>
<p>And only 10 percent of the Northwest Passage is surveyed to the highest modern standards, meaning uncharted shallows could pose a serious risk to shipping.</p>
<p>Ocean currents are predicted to push polar pack ice into the passage for decades, limiting the route to sturdy vessels with experienced navigators — and keeping insurance costs high.</p>
<p>"Think about a high mountain pass that is closed for half the year, has no gas stations, convenience stores or repair facilities," said Andrew Kinsey, a senior marine risk consultant at insurance giant Allianz. "Is this the route that you want to use for your daily commute?"</p>
<p>Environmental concerns and a growing acceptance of the indigenous population's rights have held back some plans for Arctic exploration. Cargo hauls to the Baffinland iron ore mine are already restricted to August to mid-October, so as not to disrupt the Inuit's ability to cross the ice to hunt, fish or trade.</p>
<p>Daria Gritsenko, a public policy researcher on board the Nordica, also cautioned that melting permafrost poses a problem for Arctic infrastructure.</p>
<p>"We need to rethink how we build things in the Arctic," said Gritsenko, who is based at the University of Helsinki. "Even if we develop a tremendous system of Arctic ports, how would the goods get there? That's the irony of climate change."</p>
<p>____</p>
<p>Learn more about the Arctic and read dispatches sent by a team of AP journalists as they traveled through the region's fabled Northwest Passage last month: https://www.apnews.com/tag/NewArctic</p>
<p>____</p>
<p>Follow Frank Jordans on Twitter at http://www.twitter.com/wirereporter</p> | true | 0 | distance northern shores baffin island arctic appear barren craggy world snowcapped peaks glaciers surrounded sea floating ice even midst summer yet beneath forbidding surface worlds fifth largest island lies exceptionally pure strain iron ore baffinland mine believed hold enough feed smelters decades continue reading climate change pushes ice little farther north year spurring talk gold rush remote arctic abundant natural resources prized shipping routes business opportunities tourism fishing arctic including fabled northwest passage atlantic pacific among last regions earth remain largely unexplored april us president donald trump signed executive order reverse obamaera restrictions oil drilling however experts say remain many obstacles reaping riches blocked ice associated press took firsthand look region monthlong 10000kilometer 6200mile journey aboard finnish icebreaker msv nordica along researchers specializing arctic development world demand raw materials ever increasing realization large part unexplored deposits arctic natural shift focus area said mads boye peterson head denmarks nordic bulk carriers shipping petersons company sent freighter northwest passage four years ago show route used haul cargo summer however also noted rising temperatures make operations harder moving floes less predictable unbroken sheets ice advertisement surface might look like slam dunk said actually lot complicated something decide overnight us geological survey estimated 30 percent worlds undiscovered gas 13 percent oil waiting found inside arctic circle precious minerals also slumber beneath icy surface along rare earth elements lithium cobalt used batteries electric cars handheld devices said morten smelror director geological survey norway arctic certainly among last frontiers respect undiscovered mineral resources along deep oceans said smelror geography also opens new opportunities sailing northwest passage could potentially cut distance east asia western europe 10000 kilometers 6200 miles compared traditional route panama canal offering huge fuel savings battle arctic fought geologists legions lawyers greenland staked claim lomonosov ridge beneath arctic sea would greatly extend rights sea bed possible mining russia contests claim russia boldly planted underwater flag north pole 10 years ago expanding infrastructure along northern coast canada contends arctic archipelagos waters internal waters stepped presence region including creating new arctic research center united states contests canadas claim would give ottawa right stop ships freely traveling northwest passage smaller firms pressing ahead alaskabased company quintillion laying fiber optic cable northwest passage provide highspeed internet traffic local communities additional link london tokyo growth adventure tourism lengthening summer season also produced surge traffic last year cruise ship crystal serenity 500 crew 1100 passengers paying least 22000 sailed passage part revenue goes local communities whose hunting grounds travel routes might disrupted inuit hoping new economic opportunities regions growing fishing industry moneywise great said maatiusi manning 33yearold inuk baffin island going help lot families climate change even opening new avenues agriculture mette bendixen climate researcher university copenhagen projects global warming extend growing season two months many people know potatoes strawberries grown southern greenland said despite promise several challenges holding back arctic development search fossil fuels north america slowed recent years partly low oil prices public pressure shell relinquished federal offshore leases alaskas chukchi sea last year pouring billions dollars exploration efforts former shell leases neighboring beaufort sea taken alaska nativeowned company 10 percent northwest passage surveyed highest modern standards meaning uncharted shallows could pose serious risk shipping ocean currents predicted push polar pack ice passage decades limiting route sturdy vessels experienced navigators keeping insurance costs high think high mountain pass closed half year gas stations convenience stores repair facilities said andrew kinsey senior marine risk consultant insurance giant allianz route want use daily commute environmental concerns growing acceptance indigenous populations rights held back plans arctic exploration cargo hauls baffinland iron ore mine already restricted august midoctober disrupt inuits ability cross ice hunt fish trade daria gritsenko public policy researcher board nordica also cautioned melting permafrost poses problem arctic infrastructure need rethink build things arctic said gritsenko based university helsinki even develop tremendous system arctic ports would goods get thats irony climate change ____ learn arctic read dispatches sent team ap journalists traveled regions fabled northwest passage last month httpswwwapnewscomtagnewarctic ____ follow frank jordans twitter httpwwwtwittercomwirereporter | 665 |
<p>&lt;img class="aligncenter size-large wp-image-20972" src="http://www.louderwithcrowder.com/wp-content/uploads/2016/05/GayAgendaHollywood-1024x535.jpg" alt="GayAgendaHollywood" width="1024" height="535" srcset="https://www.louderwithcrowder.com/wp-content/uploads/2016/05/GayAgendaHollywood-1024x535.jpg 1024w, https://www.louderwithcrowder.com/wp-content/uploads/2016/05/GayAgendaHollywood-300x157.jpg 300w, https://www.louderwithcrowder.com/wp-content/uploads/2016/05/GayAgendaHollywood-768x401.jpg 768w, https://www.louderwithcrowder.com/wp-content/uploads/2016/05/GayAgendaHollywood.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /&gt;</p>
<p>Dear leftists in Hollywood intent on pushing incessant gayness, even when unnecessary and irrelevant,</p>
<p>Today it seems Hollywood’s primary mission, especially television, is to shove gayness into wherever it may fit. It’s getting tired. Namely because&#160;it’s being pushed by a tiny&#160;minority of militant gay activists in the gay community. I want to make this crystal clear. I’m not suggesting ALL gays are pushing for all gay characters in all TV shows or movies. I contend like with most issues in our political climate, the “Gay Agenda” in TV is being shoved by a fraction of a percent of the gay&#160;population. Their <a href="" type="internal">members of the Gaystapo</a>. Small in numbers, shrill&#160;in voice. As stated before, the Gaystapo, and now the Hollywood Gay Agenda Pushers&#160;DO NOT represent millions of gay people who just want to live their lives in peace. Okay? Okay.</p>
<p>The thing is, there seems to be a gay storyline in every modern TV show out there.&#160;The one and only modern show I can think of without any uber-gay plot line? Breaking Bad. I’ve watched the show three times. Didn’t see any gayness. But every other show I’ve seen? Somehow it always manages to slip in.</p>
<p>&lt;img class="aligncenter wp-image-20302" src="http://www.louderwithcrowder.com/wp-content/uploads/2016/04/boom-walter.gif" alt="boom-walter" width="459" height="258" /&gt;</p>
<p>Am I saying gays should have no representation in television or movies? Of course not. But Hollywood knows it can shape pop culture and perceptions. Which is exactly what it is doing by portraying a disproportionate amount of&#160;characters as LGBTQAIP (silent F). Contrary to what you push on TV <a href="https://www.lifesitenews.com/news/data-shows-homosexuals-hugely-overrepresented-on-the-big-screen-but-glaad-s" type="external">,</a> <a href="https://www.lifesitenews.com/news/data-shows-homosexuals-hugely-overrepresented-on-the-big-screen-but-glaad-s" type="external">homosexuals make up about&#160;3.4 percent of the population, but make up 14 percent of films released in 2014</a>. Yet they still complain about being&#160;under-represented. How the gayness is&#160;depicted I’ll address later, but the result of vastly over-representing the gay population has led to the conclusion you aimed to draw. Most Americans believe the gay population is much greater than&#160;3.4 percent. <a href="http://www.gallup.com/poll/183383/americans-greatly-overestimate-percent-gay-lesbian.aspx" type="external">Americans believe the gay population is 23 percent or more, as shown in recent Gallup polling</a>:</p>
<p>&lt;img class="aligncenter size-full wp-image-20971" src="http://www.louderwithcrowder.com/wp-content/uploads/2016/05/gay-population-gallup.png" alt="gay-population-gallup" width="522" height="409" srcset="https://www.louderwithcrowder.com/wp-content/uploads/2016/05/gay-population-gallup.png 522w, https://www.louderwithcrowder.com/wp-content/uploads/2016/05/gay-population-gallup-300x235.png 300w" sizes="(max-width: 522px) 100vw, 522px" /&gt;</p>
<p>That’s quite a jump. Or maybe I should say to you, “Mission accomplished.”</p>
<p>Here’s the deal, though, Hollywood. I like to be entertained. I enjoy movies. I love a good television show. In fact I recently discovered&#160;Orphan Black. Guess what? Two gay main characters, a few minor gay characters who casually hook up with the main gay characters; one minor transgender character. Looking at the numbers above, that’s a huge over-represenation. So over the top that Liberace himself would deem it excessive.</p>
<p>That’s one of my biggest beefs with this gayness. I’m not averse to inserting ideas into stories. I’m not opposed to having a gay character. But to continually push additional gayness with such overabundance gets distracting from the story. WE GET IT!</p>
<p>&lt;img class="aligncenter wp-image-16443" src="http://www.louderwithcrowder.com/wp-content/uploads/2016/02/ThatsAPenis.gif" alt="ThatsAPenis GIF" width="443" height="341" /&gt;</p>
<p>It’s getting worse: straight character appropriation. It’s happening. Yes, there’s now a movement in the left, which I’m sure will reach y’all in Hollywood, to make existing heterosexual characters into homosexual ones. <a href="" type="internal">A writer in Vanity Fair lamented that Captain America was not gay with Bucky</a>. Why? Because apparently men can no longer be just friends. You militant Hollywood Gay Agenda Pushers&#160;seek to&#160;turn healthy male friendships into closeted gayness. As if all people are secretly gay, they just need to meet the right person to be gay with. Then and only then, can they truly blossom into a gay butterfly, in all their gayness.</p>
<p>It’s even been suggested that James Bond should be gay. <a href="" type="internal">James Bond</a>. Gay. Think about that for a second. <a href="" type="internal">James Bond is a serial womanizer</a>. He loves the ladies. The ladies love him. But we’re living in a culture where people&#160;feel comfortable suggesting a character like James Bond should be gay without being laughed at.</p>
<p>Now picture two men…</p>
<p>But in trying to appropriate straight characters, what the social-engineering left&#160;is attempting is to redefine what it means to be masculine and feminine. James Bond, a heterosexual hero of men, turned gay?&#160;Captain Freaking America turned gay?</p>
<p>That’s so… gay.</p>
<p>Why make an existing straight character into a gay one? I see it as more than just a way to push gayness. It’s also seeking to destroy traditional masculinity. Men love women. Women love men.</p>
<p>Have we reached a time in our culture where being straight is scandalous, where insisting we’re not sexually fluid will be seen as backwards hate speech?</p>
<p>Maybe I’m paranoid, but it seems we’re getting close, especially in how gay characters are portrayed: healthy, loving, never abusive toward each other. <a href="" type="internal">Even though physical abuse in homosexual relationships is sky high</a>. Particularly among Lesbians. No, no, you Hollywood social engineers&#160;are intent on portraying GAY as HEALTHY. <a href="http://www.theatlantic.com/health/archive/2013/11/a-same-sex-domestic-violence-epidemic-is-silent/281131/" type="external">Which is doing a great disservice to the rampant domestic violence in the gay community</a>.</p>
<p>So a favor, please. Can we go back to just being entertained? Can’t we cut it out with the man on man love, displayed graphically? I know even suggesting such a thing makes me a hateful homophobe, but wouldn’t it be lovely if you folks in the entertainment industry&#160;could focus on&#160;you know… entertaining us?</p>
<p>Written by <a href="https://twitter.com/Courtneyscoffs" type="external">Courtney Kirchoff</a>, with gay joke help from <a href="https://twitter.com/scrowder" type="external">Steven Crowder</a></p>
<p /> | true | 0 | ltimg classaligncenter sizelarge wpimage20972 srchttpwwwlouderwithcrowdercomwpcontentuploads201605gayagendahollywood1024x535jpg altgayagendahollywood width1024 height535 srcsethttpswwwlouderwithcrowdercomwpcontentuploads201605gayagendahollywood1024x535jpg 1024w httpswwwlouderwithcrowdercomwpcontentuploads201605gayagendahollywood300x157jpg 300w httpswwwlouderwithcrowdercomwpcontentuploads201605gayagendahollywood768x401jpg 768w httpswwwlouderwithcrowdercomwpcontentuploads201605gayagendahollywoodjpg 1200w sizesmaxwidth 1024px 100vw 1024px gt dear leftists hollywood intent pushing incessant gayness even unnecessary irrelevant today seems hollywoods primary mission especially television shove gayness wherever may fit getting tired namely because160its pushed tiny160minority militant gay activists gay community want make crystal clear im suggesting gays pushing gay characters tv shows movies contend like issues political climate gay agenda tv shoved fraction percent gay160population members gaystapo small numbers shrill160in voice stated gaystapo hollywood gay agenda pushers160do represent millions gay people want live lives peace okay okay thing seems gay storyline every modern tv show there160the one modern show think without ubergay plot line breaking bad ive watched show three times didnt see gayness every show ive seen somehow always manages slip ltimg classaligncenter wpimage20302 srchttpwwwlouderwithcrowdercomwpcontentuploads201604boomwaltergif altboomwalter width459 height258 gt saying gays representation television movies course hollywood knows shape pop culture perceptions exactly portraying disproportionate amount of160characters lgbtqaip silent f contrary push tv homosexuals make about16034 percent population make 14 percent films released 2014 yet still complain being160underrepresented gayness is160depicted ill address later result vastly overrepresenting gay population led conclusion aimed draw americans believe gay population much greater than16034 percent americans believe gay population 23 percent shown recent gallup polling ltimg classaligncenter sizefull wpimage20971 srchttpwwwlouderwithcrowdercomwpcontentuploads201605gaypopulationgalluppng altgaypopulationgallup width522 height409 srcsethttpswwwlouderwithcrowdercomwpcontentuploads201605gaypopulationgalluppng 522w httpswwwlouderwithcrowdercomwpcontentuploads201605gaypopulationgallup300x235png 300w sizesmaxwidth 522px 100vw 522px gt thats quite jump maybe say mission accomplished heres deal though hollywood like entertained enjoy movies love good television show fact recently discovered160orphan black guess two gay main characters minor gay characters casually hook main gay characters one minor transgender character looking numbers thats huge overrepresenation top liberace would deem excessive thats one biggest beefs gayness im averse inserting ideas stories im opposed gay character continually push additional gayness overabundance gets distracting story get ltimg classaligncenter wpimage16443 srchttpwwwlouderwithcrowdercomwpcontentuploads201602thatsapenisgif altthatsapenis gif width443 height341 gt getting worse straight character appropriation happening yes theres movement left im sure reach yall hollywood make existing heterosexual characters homosexual ones writer vanity fair lamented captain america gay bucky apparently men longer friends militant hollywood gay agenda pushers160seek to160turn healthy male friendships closeted gayness people secretly gay need meet right person gay truly blossom gay butterfly gayness even suggested james bond gay james bond gay think second james bond serial womanizer loves ladies ladies love living culture people160feel comfortable suggesting character like james bond gay without laughed picture two men trying appropriate straight characters socialengineering left160is attempting redefine means masculine feminine james bond heterosexual hero men turned gay160captain freaking america turned gay thats gay make existing straight character gay one see way push gayness also seeking destroy traditional masculinity men love women women love men reached time culture straight scandalous insisting sexually fluid seen backwards hate speech maybe im paranoid seems getting close especially gay characters portrayed healthy loving never abusive toward even though physical abuse homosexual relationships sky high particularly among lesbians hollywood social engineers160are intent portraying gay healthy great disservice rampant domestic violence gay community favor please go back entertained cant cut man man love displayed graphically know even suggesting thing makes hateful homophobe wouldnt lovely folks entertainment industry160could focus on160you know entertaining us written courtney kirchoff gay joke help steven crowder | 537 |
<p>On August 1st, a new cryptocurrency called Bitcoin Cash appeared online. For the first time in Bitcoin's eight-year history, the original <a href="http://www.pcmag.com/article/351486/blockchain-the-invisible-technology-thats-changing-the-wor" type="external">blockchain</a> network underwent what's called a "hard fork." A hard fork occurs when a small faction of Bitcoin (BTC) miners <a href="https://www.extremetech.com/internet/253462-bitcoin-split-community-fails-agree-solution-cryptocurrencys-woes" type="external">split off</a> onto their own blockchain network, spawning Bitcoin Cash (BCH).</p>
<p>Why the split? The technical answer lies in the long-standing Bitcoin community debate over block capacity, the nuances of which we'll get into shortly. More broadly, the Bitcoin fork speaks to a fundamental ideological rift over what's more important: preserving the decentralized nature and independent control of the Bitcoin network or accelerating transaction speeds to make the cryptocurrency more viable for mainstream <a href="http://www.pcmag.com/article2/0,2817,2484670,00.asp" type="external">e-commerce</a> and payments.</p>
<p>Continue Reading Below</p>
<p>Bitcoin's split is the second high-profile cryptocurrency fork in the past year, after a <a href="http://www.pcmag.com/article/350088/blockchain-in-2017-the-year-of-smart-contracts" type="external">smart contract</a> vulnerability and <a href="https://pcmag.com/news/345402/hacker-takes-50-million-worth-of-ether-a-rival-to-bitcoin" type="external">subsequent hack</a> led to a split on the Ethereum blockchain in 2016. The result: Ether (ETH) and Ethereum Classic (ETC). Bitcoin and Ethereum's forks came about for entirely different reasons, yet the parallels between the splits can explain a lot about the complicated nature of reaching a consensus on major decisions within a blockchain network. When an impasse is reached, a fork may follow.</p>
<p>Collectively, all four Bitcoin and Ethereum coins still sit near or at the top of the constantly fluctuating cryptocurrency <a href="https://coinmarketcap.com/" type="external">market capitalization index</a>. But you shouldn't necessarily take a coin's market cap at face value, according to Peter Van Valkenburgh, Director of Research for Coin Center, a nonprofit organization focused on the policy issues facing cryptocurrencies.</p>
<p>"The headlines are focusing on 'Wow, Bitcoin just gave birth to a $10 billion baby,'" said Valkenburgh. "But the reality is, until there's <a href="http://www.investopedia.com/terms/l/liquidity.asp" type="external">liquidity</a> on these markets—enough people trading their Bitcoin Cash coins on exchanges and making transactions on the Bitcoin blockchain—the market capitalization is really based on artificial scarcity. That's bad economics."</p>
<p>The concepts and technologies at play can be confusing even for software experts to wrap their heads around. PCMag spoke to Valkenburgh to sort through how a blockchain fork works, how the Bitcoin and Ethereum splits parallel one another, and what the future may hold for the newly minted Bitcoin Cash.</p>
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<p>If you don't understand what a blockchain network is and how it works, then the rest of this article will be even more confusing. To help, Valkenburgh gave a succinct explanation of the mechanics underlying the Bitcoin blockchain.</p>
<p>"The reality is, there are no Bitcoins, they don't exist. They're a construct of software and people's imaginations. The only thing that describes the existence of Bitcoins is the blockchain, a ledger of all transactions," said Valkenburgh.</p>
<p>A blockchain is made up of two primary components. First is the peer-to-peer (P2P) network of computers around the world, often called nodes, collectively validating and bundling batches of encrypted transactions together into code blocks. Each block is then added to the end of the chronological chain, stored not in one central location but, rather, synchronized on each node across the network.</p>
<p>Since the blockchain is decentralized, no one single party (such as a bank, financial institution, or government) can control what happens on the network. At the same time, the blockchain gives you consensus agreement and timestamped, tamper-proof data. This eliminates the need for online third parties to facilitate that transaction.</p>
<p>"The Bitcoin blockchain records every event throughout Bitcoin's history—new coins and evidence of transfers—back to 2009 when the network started," said Valkenburgh. "Every computer on the network also has to be running compatible software so that the nodes can see and validate transactions. So, if your software is not compatible or if you fail to meet or invalidate any of the consensus rules baked into the Bitcoin code base, then the network would ignore your transaction. That's all it is to have a Bitcoin: the ability to broadcast a valid transaction and transfer that balance."</p>
<p>These " <a href="https://keepingstock.net/explaining-blockchain-how-proof-of-work-enables-trustless-consensus-2abed27f0845" type="external">Trustless Consensus</a>" rules include concepts such as <a href="http://www.investopedia.com/terms/p/proof-work.asp" type="external">Proof of Work</a>, public and private key encryption, and most importantly in this instance, a cap of one megabyte (MB) on Bitcoin block size. This particular rule has been a point of contention between Bitcoin core developers and the miners who are coding new blocks since the dawn of the network—and it's the ongoing debate that ultimately led to the Bitcoin Cash fork.</p>
<p>Like every other cryptocurrency or public blockchain, Bitcoin is open-source software. Changes and modifications to how that software works need to be <a href="https://bitcoin.org/en/developer-guide#consensus-rule-changes" type="external">approved by consensus</a> and every CPU gets a vote. As Valkenburgh explained, if a group of nodes modify their software without consensus, those nodes then invalidate a rule held by the rest of the network and <a href="https://coincenter.org/entry/what-are-forks-alt-coins-meta-coins-and-sidechains" type="external">create their own fork</a> of the blockchain.</p>
<p>"If you break any of the consensus rules, then the network will ignore you. If you and a bunch of people choose to break it in a certain way, you'll all then be compatible on a parallel network," said Valkenburgh. "What happened with Bitcoin Cash is, a small minority of miners and enthusiasts frustrated with their perception of the scaling debate made those modifications and forked Bitcoin."</p>
<p>Bitcoin Cash increases the block size to 8 MB. The reason miners want to increase block size in the first place is pretty simple: As Bitcoin has grown in popularity, the network has come under heavier strain to process and validate the transaction load. As a result, transactions have started backlogging. Completion times have ballooned from an average time of 10 minutes to a high of more than 40 hours during a slowdown this past June.</p>
<p>Bitcoin Network Transaction Speeds, 2016-2017</p>
<p>Credit: Blockchain.info</p>
<p>Increasing the block size has been the subject of heated debate in the Bitcoin community for more than two years. Bitcoin Cash simply forked it into reality and increased the block size to 8 MB. Though, in point of fact, Bitcoin Cash actually stole another fork's thunder.</p>
<p>At the Consensus 2017 blockchain conference in New York this past May, a prominent group of international Bitcoin companies announced the <a href="https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77" type="external">New York Agreement</a>, which resolved to introduce a hard fork within six months called <a href="https://medium.com/@jgarzik/why-segwit2x-is-the-best-path-for-bitcoin-d9a4103f2fda" type="external">Segwit2X</a>. This fork also planned to change the block size but compromised on the contentious issue by only raising the capacity to 2 MB. Some factions of the community felt that block size shouldn't be modified at all, while others (such as the nodes now running Bitcoin Cash) believed simply doubling the size wasn't enough.</p>
<p>Segwit2X currently still has the support of the <a href="https://blockchain.info/charts/nya-support" type="external">vast majority</a> of the Bitcoin network which, in essence, makes it a software update as long as the consensus of nodes upgrades to it. Jeff Garzik, CEO of enterprise blockchain company Bloq and a former Bitcoin core developer, is leading Segwit2X development. In spite of the release of Bitcoin Cash, Garzik said that Segwit2X is pushing forward with its own fork to upgrade Bitcoin.</p>
<p>The impetus for the Ethereum fork was a much more dramatic hack and Ether heist rather than good 'ol fashioned network stress. Nevertheless, the value and relative stability of both the ETH and ETC cryptocurrencies in the time since the fork shows the possibility for a successful path forward.</p>
<p>Some background on <a href="https://www.ethereum.org/" type="external">Ethereum</a> and its fork: The Ethereum blockchain network is different from Bitcoin in that, beyond the cryptocurrency it powers (Ether), it's also a blockchain application platform for building smart contracts and decentralized apps. Ethereum also has more support from major tech companies and enterprise organizations, including the more than 150 members of the <a href="https://entethalliance.org/members/" type="external">Enterprise Ethereum Alliance</a>.</p>
<p>Ethereum is also governed a bit differently. While the Ethereum blockchain is a decentralized network with consensus voting, the platform was designed and is still overseen by the core developers who make up the Ethereum Foundation, including Ethereum co-creator Vitalik Buterin. When a vulnerability in a smart contract called the Decentralized Autonomous Organization (DAO) resulted in a heist of $50 million worth of Ether, Buterin and the developers fought fire with fire: they <a href="https://qz.com/713078/the-developers-behind-ethereum-are-hacking-the-hacker-that-hacked-it/" type="external">hacked the hackers</a> and reclaimed the cryptocurrency.</p>
<p>The debate came when deciding how to proceed from there. Buterin and the core developers were faced with a decision: If they intervened and create a new version of the network, it would fix the vulnerability and reimburse the DAO investors. At the same time, Ethereum's official documentation stated that decentralized apps should exist "without any possibility of...censorship, fraud, or third-party interference." Essentially, violating a core principle of the blockchain in order to save it.</p>
<p>"When the fork happened, there was a major ideological discrepancy for Ethereum," explained Valkenburgh. "One side believed all the miners should get together and reverse this transaction, fix the flaws in the smart contract code corrupted by the hacking attempt, and give everyone who put their money into the DAO their money back. Immutability is less important than keeping an equitable system that functions. The other side said [the DAO] is an uncensorable smart contract that should continue running and not be reversed. So, by rolling back the DAO hack, you're breaking a [core tenet], and we're going to maintain the faith."</p>
<p>The community ultimately decided to go ahead with the fork, with the new Foundation-led network maintaining the Ethereum name (ETH) and the latter group choosing not to move to the new blockchain and instead becoming Ethereum Classic. Despite questions of whether Ether would survive the split or if Ethereum Classic could be a viable currency, the networks navigated the fork and both remain active and viable cryptocurrencies today (although ETH has skyrocketed in value as compared to ETC). Valkenburgh said this comes down to the strength of Ethereum's community and could serve as an example for Bitcoin's fork.</p>
<p>"I was on the side of Ether but, to my surprise, the vibrant developer community working on Ethereum Classic has helped the price rise slowly from $2 when it emerged to around $14 today. Ethereum at the time was about $10 and recently has averaged around $225," said Valkenburgh. "Maybe we'll see that with Bitcoin Cash. There are definitely strong ideological differences in both examples. But the difference in this case is, Ethereum's fork had less to do with technology and design than what to do about equity and this one 'bad apple' transaction. With Bitcoin, you have this impasse with varying technical solutions."</p>
<p>The saga of Bitcoin, Bitcoin Cash, and the Segwit2X fork is ongoing. Thus far, support for Bitcoin Cash has been divisive among the Bitcoin exchanges, but the tide seems to be turning. Bitfinex and Kraken, two of the top five exchanges (platforms for buying, selling, trading, and exchanging cryptocurrencies) announced support in advance of the split. The big holdout had been Coinbase, the most popular online exchange, which had stated it would not support BCH—until <a href="https://blog.coinbase.com/update-on-bitcoin-cash-8a67a7e8dbdf" type="external">announcing</a> it will add support by 2018. For those worried about how the fork would affect Bitcoin's market value, after a brief dip following the split, Bitcoin rebounded to set a new record. After breaking the $3,000-per-Bitcoin threshold, the original cryptocurrency has hovered around $3,300-$3,400 this week.</p>
<p>Beyond the short-term controversy over what exchanges support Bitcoin Cash, the larger debate that will shape Bitcoin's future comes down to centralization versus decentralization. The power of a blockchain network lies in its ability to facilitate trusted online transactions without a third party in the middle. Bitcoin was originally conceived as a P2P electronic cash system for global transactions. The debate over block size and transaction speeds all comes back to Bitcoin's viability as an alternative to banks and credit card companies for mainstream online transactions.</p>
<p>The goal in this case would be to accelerate transaction speeds and reduce latency to the point where a consumer could walk up to a checkout counter and buy groceries with Bitcoin, without waiting an hour or more for the transaction to be validated. To do this, however, Valkenburgh explained that the network itself might be forced into centralizing a decentralized system.</p>
<p>"When data goes through the internet, it has latency. Sending a Bitcoin transaction from the US to China takes longer than sending packets from me to you in New York. And the latency gets worse the more data being sent," said Valkenburgh. "Bitcoin blocks need to propagate through the network to validate and start building the next block on the chain. And if the blocks are big, they propagate slowly and unevenly."</p>
<p>Miners always want to hear about a new block first. If blocks get larger and larger, leading to substantially more latency, then Valkenburgh said there's a strong incentive for miners to geographically co-locate within the same region. That's a slippery slope, one that colors in the other side of the debate over block size. What's more important: maintaining the decentralized autonomy of the Bitcoin network or furthering Bitcoin's charge to revolutionize global payments?</p>
<p>"What would be likely is, all the miners decide to geographically co-locate in Western China where there's cheap hydroelectric power or in Iceland or possibility the Pacific Northwest. The fundamental role miners play could then be more easily controlled, either by a cartel of miners who get together privately to block or censor transactions or, more likely, from a government," said Valkenburgh. "It's sacrificing censorship resistance for the ability to use your smartphone to buy a Coca-Cola with a Bitcoin."</p>
<p>Valkenburgh is a staunch supporter of maintaining decentralization but said the debate over block size is mostly because we haven't figured out a better solution. The inability to execute cross-border payments and trustless, online transactions were considered a fundamental flaw of electronic cash systems—until Bitcoin creator Satoshi Nakamoto found a way to build one that didn't. With the pace at which cryptocurrencies and decentralized blockchain technology is evolving, the Bitcoin and Ethereum forks may ultimately be remembered as nothing but footnotes for what came next.</p>
<p>This article <a href="http://www.pcmag.com/article/355376/why-blockchains-fork-a-tale-of-two-cryptocurrencies" type="external">originally appeared</a> on <a href="http://www.pcmag.com" type="external">PCMag.com</a>.</p> | true | 0 | august 1st new cryptocurrency called bitcoin cash appeared online first time bitcoins eightyear history original blockchain network underwent whats called hard fork hard fork occurs small faction bitcoin btc miners split onto blockchain network spawning bitcoin cash bch split technical answer lies longstanding bitcoin community debate block capacity nuances well get shortly broadly bitcoin fork speaks fundamental ideological rift whats important preserving decentralized nature independent control bitcoin network accelerating transaction speeds make cryptocurrency viable mainstream ecommerce payments continue reading bitcoins split second highprofile cryptocurrency fork past year smart contract vulnerability subsequent hack led split ethereum blockchain 2016 result ether eth ethereum classic etc bitcoin ethereums forks came entirely different reasons yet parallels splits explain lot complicated nature reaching consensus major decisions within blockchain network impasse reached fork may follow collectively four bitcoin ethereum coins still sit near top constantly fluctuating cryptocurrency market capitalization index shouldnt necessarily take coins market cap face value according peter van valkenburgh director research coin center nonprofit organization focused policy issues facing cryptocurrencies headlines focusing wow bitcoin gave birth 10 billion baby said valkenburgh reality theres liquidity marketsenough people trading bitcoin cash coins exchanges making transactions bitcoin blockchainthe market capitalization really based artificial scarcity thats bad economics concepts technologies play confusing even software experts wrap heads around pcmag spoke valkenburgh sort blockchain fork works bitcoin ethereum splits parallel one another future may hold newly minted bitcoin cash advertisement dont understand blockchain network works rest article even confusing help valkenburgh gave succinct explanation mechanics underlying bitcoin blockchain reality bitcoins dont exist theyre construct software peoples imaginations thing describes existence bitcoins blockchain ledger transactions said valkenburgh blockchain made two primary components first peertopeer p2p network computers around world often called nodes collectively validating bundling batches encrypted transactions together code blocks block added end chronological chain stored one central location rather synchronized node across network since blockchain decentralized one single party bank financial institution government control happens network time blockchain gives consensus agreement timestamped tamperproof data eliminates need online third parties facilitate transaction bitcoin blockchain records every event throughout bitcoins historynew coins evidence transfersback 2009 network started said valkenburgh every computer network also running compatible software nodes see validate transactions software compatible fail meet invalidate consensus rules baked bitcoin code base network would ignore transaction thats bitcoin ability broadcast valid transaction transfer balance trustless consensus rules include concepts proof work public private key encryption importantly instance cap one megabyte mb bitcoin block size particular rule point contention bitcoin core developers miners coding new blocks since dawn networkand ongoing debate ultimately led bitcoin cash fork like every cryptocurrency public blockchain bitcoin opensource software changes modifications software works need approved consensus every cpu gets vote valkenburgh explained group nodes modify software without consensus nodes invalidate rule held rest network create fork blockchain break consensus rules network ignore bunch people choose break certain way youll compatible parallel network said valkenburgh happened bitcoin cash small minority miners enthusiasts frustrated perception scaling debate made modifications forked bitcoin bitcoin cash increases block size 8 mb reason miners want increase block size first place pretty simple bitcoin grown popularity network come heavier strain process validate transaction load result transactions started backlogging completion times ballooned average time 10 minutes high 40 hours slowdown past june bitcoin network transaction speeds 20162017 credit blockchaininfo increasing block size subject heated debate bitcoin community two years bitcoin cash simply forked reality increased block size 8 mb though point fact bitcoin cash actually stole another forks thunder consensus 2017 blockchain conference new york past may prominent group international bitcoin companies announced new york agreement resolved introduce hard fork within six months called segwit2x fork also planned change block size compromised contentious issue raising capacity 2 mb factions community felt block size shouldnt modified others nodes running bitcoin cash believed simply doubling size wasnt enough segwit2x currently still support vast majority bitcoin network essence makes software update long consensus nodes upgrades jeff garzik ceo enterprise blockchain company bloq former bitcoin core developer leading segwit2x development spite release bitcoin cash garzik said segwit2x pushing forward fork upgrade bitcoin impetus ethereum fork much dramatic hack ether heist rather good ol fashioned network stress nevertheless value relative stability eth etc cryptocurrencies time since fork shows possibility successful path forward background ethereum fork ethereum blockchain network different bitcoin beyond cryptocurrency powers ether also blockchain application platform building smart contracts decentralized apps ethereum also support major tech companies enterprise organizations including 150 members enterprise ethereum alliance ethereum also governed bit differently ethereum blockchain decentralized network consensus voting platform designed still overseen core developers make ethereum foundation including ethereum cocreator vitalik buterin vulnerability smart contract called decentralized autonomous organization dao resulted heist 50 million worth ether buterin developers fought fire fire hacked hackers reclaimed cryptocurrency debate came deciding proceed buterin core developers faced decision intervened create new version network would fix vulnerability reimburse dao investors time ethereums official documentation stated decentralized apps exist without possibility ofcensorship fraud thirdparty interference essentially violating core principle blockchain order save fork happened major ideological discrepancy ethereum explained valkenburgh one side believed miners get together reverse transaction fix flaws smart contract code corrupted hacking attempt give everyone put money dao money back immutability less important keeping equitable system functions side said dao uncensorable smart contract continue running reversed rolling back dao hack youre breaking core tenet going maintain faith community ultimately decided go ahead fork new foundationled network maintaining ethereum name eth latter group choosing move new blockchain instead becoming ethereum classic despite questions whether ether would survive split ethereum classic could viable currency networks navigated fork remain active viable cryptocurrencies today although eth skyrocketed value compared etc valkenburgh said comes strength ethereums community could serve example bitcoins fork side ether surprise vibrant developer community working ethereum classic helped price rise slowly 2 emerged around 14 today ethereum time 10 recently averaged around 225 said valkenburgh maybe well see bitcoin cash definitely strong ideological differences examples difference case ethereums fork less technology design equity one bad apple transaction bitcoin impasse varying technical solutions saga bitcoin bitcoin cash segwit2x fork ongoing thus far support bitcoin cash divisive among bitcoin exchanges tide seems turning bitfinex kraken two top five exchanges platforms buying selling trading exchanging cryptocurrencies announced support advance split big holdout coinbase popular online exchange stated would support bchuntil announcing add support 2018 worried fork would affect bitcoins market value brief dip following split bitcoin rebounded set new record breaking 3000perbitcoin threshold original cryptocurrency hovered around 33003400 week beyond shortterm controversy exchanges support bitcoin cash larger debate shape bitcoins future comes centralization versus decentralization power blockchain network lies ability facilitate trusted online transactions without third party middle bitcoin originally conceived p2p electronic cash system global transactions debate block size transaction speeds comes back bitcoins viability alternative banks credit card companies mainstream online transactions goal case would accelerate transaction speeds reduce latency point consumer could walk checkout counter buy groceries bitcoin without waiting hour transaction validated however valkenburgh explained network might forced centralizing decentralized system data goes internet latency sending bitcoin transaction us china takes longer sending packets new york latency gets worse data sent said valkenburgh bitcoin blocks need propagate network validate start building next block chain blocks big propagate slowly unevenly miners always want hear new block first blocks get larger larger leading substantially latency valkenburgh said theres strong incentive miners geographically colocate within region thats slippery slope one colors side debate block size whats important maintaining decentralized autonomy bitcoin network furthering bitcoins charge revolutionize global payments would likely miners decide geographically colocate western china theres cheap hydroelectric power iceland possibility pacific northwest fundamental role miners play could easily controlled either cartel miners get together privately block censor transactions likely government said valkenburgh sacrificing censorship resistance ability use smartphone buy cocacola bitcoin valkenburgh staunch supporter maintaining decentralization said debate block size mostly havent figured better solution inability execute crossborder payments trustless online transactions considered fundamental flaw electronic cash systemsuntil bitcoin creator satoshi nakamoto found way build one didnt pace cryptocurrencies decentralized blockchain technology evolving bitcoin ethereum forks may ultimately remembered nothing footnotes came next article originally appeared pcmagcom | 1,344 |
<p>Brad Blakeman, former Deputy assistant to President George W. Bush, on President Trump ending subsidies to insurance companies under ObamaCare.</p>
<p>U.S. President Donald Trump on Friday urged Democrats to make a healthcare deal after cutting off Obamacare subsidies to health insurance companies for low-income patients in a forceful move that sparked threats of legal action and concern of chaos in insurance markets.</p>
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<p>"ObamaCare is a broken mess," Trump tweeted early on Friday. "Piece by piece we will now begin the process of giving America the great HealthCare it deserves!"</p>
<p>The decision is the most dramatic action Trump has taken yet to weaken the Affordable Care Act, President Barack Obama's signature healthcare law, which extended insurance to 20 million Americans.</p>
<p>The move drew swift condemnation from Democrats and threats from state attorneys general in New York and California to file lawsuits. Trump, a Republican, urged opponents to reach out to him.</p>
<p>"The Democrats ObamaCare is imploding. Massive subsidy payments to their pet insurance companies has stopped. Dems should call me to fix!" Trump said in another tweet on Friday.</p>
<p>Trump has been frustrated by Republicans' failure to repeal and replace the law known as Obamacare, thwarting a promise he made during his successful 2016 presidential campaign.</p>
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<p>His decision is likely to please those among his political base who detest the Obamacare system, which many Republicans have attacked for years as an unneeded government intrusion in Americans' healthcare.</p>
<p>In a nod to that same constituency, the president signed an executive order earlier on Thursday to make it easier for Americans to buy bare-bones health insurance plans exempt from Obamacare requirements.</p>
<p>Senate Democratic Leader Chuck Schumer and House Democratic Leader Nancy Pelosi derided the subsidies cut-off in a joint statement, saying Trump would single-handedly push Americans' healthcare premiums higher.</p>
<p>"It is a spiteful act of vast, pointless sabotage leveled at working families and the middle class in every corner of America," they said. "Make no mistake about it, Trump will try to blame the Affordable Care Act, but this will fall on his back and he will pay the price for it."</p>
<p>Insurers and proponents of Obamacare have implored Trump for months to commit to making the payments, which are worth billions of dollars. Several insurers have cited uncertainty over the payments when hiking premiums for 2018 or exiting insurance markets altogether.</p>
<p>Healthcare stocks have edged lower in recent days. Ending the payments could hurt shares of insurers such as Anthem Inc , Molina Healthcare Inc, Cigna Corp and Centene Corp, which are offering plans on Obamacare markets for 2018.</p>
<p>Trump has made the payments, guaranteed to insurers under Obamacare to help lower out-of-pocket medical expenses for low-income consumers, each month since taking office in January. But he has repeatedly threatened to cut them off and disparaged them as a "bailout" for insurance companies.</p>
<p>For Kathryn Haydon and her husband, who bought insurance under the law's marketplace three years ago as struggling college students in Arkansas, the subsidies reduced the cost of their $310 plan by about $250, leaving them to pay $60 each month.</p>
<p>"If the subsidy was not there, we would have gone without health insurance," she said. "Our finances were extremely tight at the time for us... we would have just hoped there were no catastrophes."</p>
<p>LAWSUITS</p>
<p>The White House said late on Thursday that it could not lawfully pay the subsidies anymore.</p>
<p>A White House statement said that based on guidance from the Justice Department, "the Department of Health and Human Services has concluded that there is no appropriation for cost-sharing reduction payments to insurance companies under Obamacare."</p>
<p>"In light of this analysis, the Government cannot lawfully make the cost-sharing reduction payments," it said.</p>
<p>New York Attorney General Eric T. Schneiderman said in a statement he was prepared to lead other attorneys general in a lawsuit.</p>
<p>"I will not allow President Trump to once again use New York families as political pawns in his dangerous, partisan campaign to eviscerate the Affordable Care Act at any cost," he wrote.</p>
<p>The payments are the subject of a lawsuit brought by House Republicans against the Obama administration that alleged they were unlawful because they needed to be appropriated by Congress. A judge for the federal district court for the District of Columbia ruled in favor of the Republicans, and the Obama administration appealed the ruling.</p>
<p>The Trump administration took over the lawsuit and had delayed deciding whether to continue the Obama administration’s appeal or terminate the subsidies, but in April Trump began threatening to stop the payments.</p>
<p>That case became more complicated in August when a U.S. appeals court allowed 16 Democratic state attorneys general to defend the payments and have a say in the legal fight.</p>
<p>The political turbulence has affected insurers' decisions.</p>
<p>Anthem Inc, one of the largest remaining Obamacare insurers, in August scaled back its offerings in Nevada and Georgia and blamed the moves in part on uncertainty over the payments.</p>
<p>Blue Cross and Blue Shield of North Carolina earlier this year raised premiums by more than 20 percent, but said it would have only raised premiums by about 9 percent if Trump agreed to fund the payments.</p>
<p>The nonpartisan Congressional Budget Office estimated that cutting off the payments would cause premiums to rise 20 percent in 2018, and that 5 percent of Americans would live in areas that do not have an insurer in the individual market in 2018.</p>
<p>Trump has taken other steps to undermine Obamacare. Last week, his administration allowed businesses and non-profit organizations to seek exemptions from Obamacare’s mandate that employers provide birth control in health insurance with no co-payment.</p>
<p>The administration also slashed the Obamacare advertising and outreach budget and halved the open enrollment period.</p>
<p>(By Yasmeen Abutaleb and Jeff Mason; Additional reporting by Steve Holland, Brendan O'Brien and Susan Heavey and; Editing by Michael Perry and Bernadette Baum)</p> | true | 0 | brad blakeman former deputy assistant president george w bush president trump ending subsidies insurance companies obamacare us president donald trump friday urged democrats make healthcare deal cutting obamacare subsidies health insurance companies lowincome patients forceful move sparked threats legal action concern chaos insurance markets continue reading obamacare broken mess trump tweeted early friday piece piece begin process giving america great healthcare deserves decision dramatic action trump taken yet weaken affordable care act president barack obamas signature healthcare law extended insurance 20 million americans move drew swift condemnation democrats threats state attorneys general new york california file lawsuits trump republican urged opponents reach democrats obamacare imploding massive subsidy payments pet insurance companies stopped dems call fix trump said another tweet friday trump frustrated republicans failure repeal replace law known obamacare thwarting promise made successful 2016 presidential campaign advertisement decision likely please among political base detest obamacare system many republicans attacked years unneeded government intrusion americans healthcare nod constituency president signed executive order earlier thursday make easier americans buy barebones health insurance plans exempt obamacare requirements senate democratic leader chuck schumer house democratic leader nancy pelosi derided subsidies cutoff joint statement saying trump would singlehandedly push americans healthcare premiums higher spiteful act vast pointless sabotage leveled working families middle class every corner america said make mistake trump try blame affordable care act fall back pay price insurers proponents obamacare implored trump months commit making payments worth billions dollars several insurers cited uncertainty payments hiking premiums 2018 exiting insurance markets altogether healthcare stocks edged lower recent days ending payments could hurt shares insurers anthem inc molina healthcare inc cigna corp centene corp offering plans obamacare markets 2018 trump made payments guaranteed insurers obamacare help lower outofpocket medical expenses lowincome consumers month since taking office january repeatedly threatened cut disparaged bailout insurance companies kathryn haydon husband bought insurance laws marketplace three years ago struggling college students arkansas subsidies reduced cost 310 plan 250 leaving pay 60 month subsidy would gone without health insurance said finances extremely tight time us would hoped catastrophes lawsuits white house said late thursday could lawfully pay subsidies anymore white house statement said based guidance justice department department health human services concluded appropriation costsharing reduction payments insurance companies obamacare light analysis government lawfully make costsharing reduction payments said new york attorney general eric schneiderman said statement prepared lead attorneys general lawsuit allow president trump use new york families political pawns dangerous partisan campaign eviscerate affordable care act cost wrote payments subject lawsuit brought house republicans obama administration alleged unlawful needed appropriated congress judge federal district court district columbia ruled favor republicans obama administration appealed ruling trump administration took lawsuit delayed deciding whether continue obama administrations appeal terminate subsidies april trump began threatening stop payments case became complicated august us appeals court allowed 16 democratic state attorneys general defend payments say legal fight political turbulence affected insurers decisions anthem inc one largest remaining obamacare insurers august scaled back offerings nevada georgia blamed moves part uncertainty payments blue cross blue shield north carolina earlier year raised premiums 20 percent said would raised premiums 9 percent trump agreed fund payments nonpartisan congressional budget office estimated cutting payments would cause premiums rise 20 percent 2018 5 percent americans would live areas insurer individual market 2018 trump taken steps undermine obamacare last week administration allowed businesses nonprofit organizations seek exemptions obamacares mandate employers provide birth control health insurance copayment administration also slashed obamacare advertising outreach budget halved open enrollment period yasmeen abutaleb jeff mason additional reporting steve holland brendan obrien susan heavey editing michael perry bernadette baum | 592 |
<p>If you're shopping for a <a href="https://www.fool.com/retirement/2017/06/25/5-things-to-look-for-when-shopping-for-health-insu.aspx?source=iaasitlnk0000003&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=d1cad096-712e-11e7-a9d9-0050569d32b9&amp;utm_source=foxbusiness" type="external">health insurance policy Opens a New Window.</a>, or trying to actually use your policy to get medical care, cost is likely a primary concern. You need to know not just what the premiums for your policy cost, but also what you'll actually have to pay out-of-pocket if you want to use healthcare services. Reading the policy language is key to understanding what costs you can expect to incur -- but you need to understand exactly what all of the different terms mean that are used to describe the payments you could end up owing.</p>
<p>In particular, there are three key costs you need to understand: deductible, co-pay, and co-insurance. &#160;Here's what each of these terms could mean to you, as far as the out-of-pocket expenditures that you'll incur.</p>
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<p>Your deductible is the amount of spending required before your insurer begins to pay for any covered services. For example, if your policy has a $1,000 deductible, you will not have your medical bills covered by your insurance until after you have spent $1,000 total on healthcare that your insurer counts toward your deductible. If you underwent a $1,500 elective cosmetic surgery, the surgery would not count toward your deductible because it wouldn't be covered by your insurer -- but if you spent $1,500 on a surgery that your insurer covers, the insurance provider would begin to cover the costs of the other care you need going forward.</p>
<p>Your deductible resets each year, either at the anniversary date of when you got the policy or at the start of the calendar year. You may have different deductibles for different kinds of services, such as a separate deductible for prescription medications. If you met your $1,000 deductible by paying for a covered surgery but you had a separate $500 deductible for prescription meds, you'd have to pay for the prescription pain killers needed after your surgery unless you'd already paid out at least $500 in prescription drug costs during the year.</p>
<p>When you have not yet met your deductible, you can still get certain covered healthcare services. For example, your policy may cover the costs of an annual exam, of cancer screenings or of certain vaccines, even if you have not yet met your deductible. All plans which are sold on the Obamacare insurance marketplace cover certain preventative care services even before deductibles have been met for the year, such as diabetes screenings and HIV screenings.</p>
<p>The lower your deductible, the higher you can expect your premiums to be. If you do not use many healthcare services, you may wish to opt for a high deductible policy, but if you get sick often or have a chronic condition and require a lot of care, it makes more sense to pay high premiums for a policy with the lowest deductible possible.</p>
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<p>Co-pays are fixed costs for health services that you must pay, even after your deductible has been met for the year. For example, your doctor may charge a $20 copay for a routine exam to diagnose an illness. If you had met your deductible already, you would only have to pay this $20 for the exam. &#160;If you had not met your deductible, you would not be charged a separate co-pay but would instead have to pay the full amount that your insurer allows your doctor to charge for an exam.</p>
<p>When you receive healthcare services, you may have to pay multiple co-pays. For example, you could be required to pay a $20 co-pay for the exam and an additional $15 co-pay for lab work that your doctor orders. Typically, the lower your co-pays for the services that you receive, the higher the costs of your insurance premiums. Again, it makes sense for policyholders who use more medical services to buy a policy with lower co-pays while policyholders who rarely get care may opt for a policy with a higher co-pay so they pay less in premiums but pay more each time they actually go to a doctor.</p>
<p>You will only have to pay a co-pay until the out-of-pocket maximum on your policy is met. For example, policies purchased on the Obamacare exchange for 2017 have an out-of-pocket maximum limit of $7,150. Once you've spent at least $7,150 on your deductible and on co-pays or coinsurance costs for covered services, you don't have to pay anything any more except your premiums. Your premiums do&#160;not count toward your out-of-pocket maximum.</p>
<p>Co-insurance costs , like co-pays, are costs that you pay for covered services after your deductible has been met and until your out-of-pocket limit has been reached. However, the big difference between co-pays and co-insurance costs is that co-pays are a fixed cost for each service while co-insurance costs are equal to a percentage of the amount your health services cost. &#160;For example, seniors covered by Medicare Part B have 20% co-insurance costs for most doctor's services and many private policies also charge a similar percentage.</p>
<p>When you go to an in-network doctor, you're doctor is permitted to charge only a certain allowable amount for services. If your doctor is allowed to charge you $1,000 for a procedure and you have a 20% co-insurance cost, your insurer covers $800 of the procedure and you must pay the remaining 20% or $200. &#160;If your out-of-pocket limit had not yet been reached, this $200 would count toward that limit for the year.</p>
<p>Co-insurance costs, like co-pays and deductibles, tend to be higher if premiums are lower, and will be lower for policies with higher premiums. &#160;While Medicare recipients often purchase secondary insurance to cover their co-insurance costs, policyholders with private insurance should expect to come up with the cash for the percent of services they owe if they require healthcare.</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.&#160; <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;uuid=d1cad096-712e-11e7-a9d9-0050569d32b9&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;uuid=d1cad096-712e-11e7-a9d9-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | youre shopping health insurance policy opens new window trying actually use policy get medical care cost likely primary concern need know premiums policy cost also youll actually pay outofpocket want use healthcare services reading policy language key understanding costs expect incur need understand exactly different terms mean used describe payments could end owing particular three key costs need understand deductible copay coinsurance 160heres terms could mean far outofpocket expenditures youll incur continue reading deductible amount spending required insurer begins pay covered services example policy 1000 deductible medical bills covered insurance spent 1000 total healthcare insurer counts toward deductible underwent 1500 elective cosmetic surgery surgery would count toward deductible wouldnt covered insurer spent 1500 surgery insurer covers insurance provider would begin cover costs care need going forward deductible resets year either anniversary date got policy start calendar year may different deductibles different kinds services separate deductible prescription medications met 1000 deductible paying covered surgery separate 500 deductible prescription meds youd pay prescription pain killers needed surgery unless youd already paid least 500 prescription drug costs year yet met deductible still get certain covered healthcare services example policy may cover costs annual exam cancer screenings certain vaccines even yet met deductible plans sold obamacare insurance marketplace cover certain preventative care services even deductibles met year diabetes screenings hiv screenings lower deductible higher expect premiums use many healthcare services may wish opt high deductible policy get sick often chronic condition require lot care makes sense pay high premiums policy lowest deductible possible advertisement copays fixed costs health services must pay even deductible met year example doctor may charge 20 copay routine exam diagnose illness met deductible already would pay 20 exam 160if met deductible would charged separate copay would instead pay full amount insurer allows doctor charge exam receive healthcare services may pay multiple copays example could required pay 20 copay exam additional 15 copay lab work doctor orders typically lower copays services receive higher costs insurance premiums makes sense policyholders use medical services buy policy lower copays policyholders rarely get care may opt policy higher copay pay less premiums pay time actually go doctor pay copay outofpocket maximum policy met example policies purchased obamacare exchange 2017 outofpocket maximum limit 7150 youve spent least 7150 deductible copays coinsurance costs covered services dont pay anything except premiums premiums do160not count toward outofpocket maximum coinsurance costs like copays costs pay covered services deductible met outofpocket limit reached however big difference copays coinsurance costs copays fixed cost service coinsurance costs equal percentage amount health services cost 160for example seniors covered medicare part b 20 coinsurance costs doctors services many private policies also charge similar percentage go innetwork doctor youre doctor permitted charge certain allowable amount services doctor allowed charge 1000 procedure 20 coinsurance cost insurer covers 800 procedure must pay remaining 20 200 160if outofpocket limit yet reached 200 would count toward limit year coinsurance costs like copays deductibles tend higher premiums lower lower policies higher premiums 160while medicare recipients often purchase secondary insurance cover coinsurance costs policyholders private insurance expect come cash percent services owe require healthcare 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 after160 simply click discover learn strategies opens new window motley fool disclosure policy opens new window | 574 |
<p>Strong earnings seen as providing calm over past three weeks</p>
<p>U.S. stocks closed down Wednesday, but off session lows as tensions between North Korea and the U.S. added a dollop of geopolitical uncertainty to markets, and as high-profile companies disappointed with their quarterly results.</p>
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<p>The Dow Jones Industrial Average declined 36.64 points, or 0.2%, to close at 22,048.70, after briefly losing its grip on the psychological milestone of 22,000. Fourteen out of the average's 30 components finished lower.</p>
<p>Walt Disney Co.(DIS) was the biggest weight on blue chips, tumbling 3.9% a day after the media giant reported its quarterly results and announced plans to end (http://www.marketwatch.com/story/disney-details-launch-of-espn-and-disney-streaming-services-plans-end-of-netflix-deal-2017-08-08) its distribution deal with Netflix Inc.(NFLX) and launch its own ESPN and Disney streaming services. Shares in streaming-giant Netflix, a major contributor to the overall market's gains this year, fell 1.5%.</p>
<p>The S&amp;P 500 index slipped 0.90 point, or less than 0.1%, to finish at 2,474.02, overcoming an earlier 13-point deficit. Of the 11 sectors on the S&amp;P 500, only the utilities, consumer-discretionary, telecom and financial sectors finished in the red.</p>
<p>The Nasdaq Composite Index closed down 18.13 points, or 0.3%, at 6,352.33, paring an earlier 61-point decline.</p>
<p>In the latest escalation of tensions between Washington and Pyongyang, the isolated Asian country threatened a missile strike (http://www.marketwatch.com/story/north-korea-threatens-missile-strike-on-us-base-on-guam-2017-08-08) at U.S. territory Guam. That saber-rattling came a day after U.S. President Donald Trump said he would respond with "fire and fury like the world has never seen (http://www.marketwatch.com/story/trump-today-president-says-north-korea-faces-fire-and-fury-if-it-doesnt-halt-threats-2017-08-08)" if the country doesn't halt its threats.</p>
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<p>Read more:How Trump's threat of 'fire and fury' is rattling stock-market calm (http://www.marketwatch.com/story/how-trumps-threat-of-fire-and-fury-is-rattling-stock-market-calm-2017-08-09)</p>
<p>Check out:Guam's governor says 'there is no threat' but U.S. island 'will be defended' (http://www.marketwatch.com/story/guams-governor-there-is-no-threat-but-american-island-will-be-defended-2017-08-09)</p>
<p>The heightened tensions come at a time when stocks have enjoyed a lengthy climb. The Dow recently rose for 10 straight sessions, a streak that ended on Tuesday, also halting an attempt at 10 successive closes in record territory. The S&amp;P is also less than half a percentage point of its own record, with the Nasdaq about 1% off its own.</p>
<p>"Definitely the primary reason stocks are down is geopolitical tensions," said J.J. Kinahan, chief strategist at TD Ameritrade, in an interview. "But that's coming off 10 days higher on the Dow and we're still at highs. As much as we'd like to see the market go straight up, there's got to be a day of reckoning."</p>
<p>Recent market action has been slight, with small intraday moves and low volatility. On Monday, the S&amp;P 500 moved in a range of just 0.2%, the third smallest range of the past 20 years, according to data from LPL Financial.</p>
<p>Meanwhile, the CBOE Volatility index has been near all-time lows, though it rose less than one point on Wednesday, up 5.8% to 11.60. It had seen a steeper rise before paring its gains.</p>
<p>Even with the pullback, it's amazing how calm markets are even with the alarming headlines, said Ryan Detrick, senior market strategist for LPL Financial, in an interview. So far, the S&amp;P 500 has gone 15 sessions without a change of 0.3% or more, he said.</p>
<p>"We're amazed at how calm things have been," Detrick said. "We think it kind of comes down to: Below the headlines, we have a very strong global economy and strong global earnings. It's not perfect but it's expanding and improving."</p>
<p>Related:A problem for buy-the-dip investors: no dips to buy (http://www.marketwatch.com/story/a-problem-for-buy-the-dip-investors-no-dips-to-buy-2017-08-08)</p>
<p>Others saw silver linings in the prospect of a stock-market downturn.</p>
<p>"No one wants to see military escalation, but we think a pullback is healthy," said Randy Frederick, vice president of trading and derivatives for Charles Schwab.</p>
<p>Individual movers:Priceline Group Inc.(PCLN) finished down 6.9%. The online-travel broker late Tuesday posted quarterly earnings that topped forecasts, but bookings missed expectations (http://www.marketwatch.com/story/priceline-shares-plunge-6-on-second-quarter-results-2017-08-08). TripAdvisor Inc. shares (TRIP) rose 2.5% even as the operator of travel websites reported weaker-than-expected quarterly results (http://www.marketwatch.com/story/tripadvisor-shares-fall-6-after-company-misses-quarterly-views-2017-08-08) late Tuesday.</p>
<p>A handful of defense contractors trended higher with the sabre-rattling. Shares of Raytheon Co.(RTN) closed up 2.6%, while Rockwell Collins Inc. (COL) shares rose 0.6%. L3 Technologies Inc.(LLL) rose 2%, Lockheed Martin Corp.(LMT) advanced 1.7%, Northrop Grumman Corp.(NOC) was up 1.2%, and General Dynamics Corp.(GD) ticked 1.1% higher.</p>
<p>Retailer Office Depot Inc.(ODP) plummeted nearly 26% after it posted a quarterly profit that missed expectations (http://www.marketwatch.com/story/office-depots-profit-misses-expectations-as-sales-decline-2017-08-09).</p>
<p>Drugmaker Mylan NV(MYL) rose 0.9% after its results, while fast-food chain Wendy's Co.(WEN) rose 3.8%.</p>
<p>Economic news: Productivity or how many goods and services U.S. workers produce an hour rose at an annual rate of 0.9% in the second quarter (http://www.marketwatch.com/story/us-productivity-picks-up-a-bit-in-second-quarter-2017-08-09) from the prior three months, the Labor Department said Wednesday. This is up from a 0.1% rate in the first quarter.</p>
<p>Check out:MarketWatch's Economic Calendar (http://www.marketwatch.com/economy-politics/calendars/economic)</p>
<p>On the Federal Reserve front, Chicago Fed President Charles Evans said he supported starting a reduction of the central bank's $4.5 trillion balance sheet in September but was ambivalent about another rate hike this year (http://www.marketwatch.com/story/feds-evans-backs-balance-sheet-reduction-but-ambivalent-toward-another-rate-hike-2017-08-09).</p>
<p>Other markets:Gold futures (http://www.marketwatch.com/story/gold-gains-about-1-as-us-north-korea-tensions-grow-2017-08-09) rose 1.3% to settle at $1,279.30 an ounce as investors moved toward safety plays, with the Swiss franc (http://www.marketwatch.com/story/dollar-slides-vs-swiss-franc-as-us-north-korea-discord-prompts-run-to-safety-2017-08-09) up 1.1%. European equities (http://www.marketwatch.com/story/european-stocks-slide-as-us-north-korea-strife-sends-haven-assets-higher-2017-08-09) closed lower, following the lead of Asian markets, (http://www.marketwatch.com/story/asian-markets-retreat-as-saber-rattling-over-north-korea-intensifies-2017-08-08) which finished lower. Oil futures (http://www.marketwatch.com/story/oil-prices-move-lower-as-geopolitical-tensions-rise-2017-08-09) settled up 0.8% at $49.56 a barrel after the latest inventory data showed a drop of 6.5 million barrels in the past week.</p>
<p>The ICE U.S. Dollar Index was slightly lower on the day.</p>
<p>--Victor Reklaitis in London contributed to this article.</p>
<p>(END) Dow Jones Newswires</p>
<p>August 09, 2017 16:37 ET (20:37 GMT)</p> | true | 0 | strong earnings seen providing calm past three weeks us stocks closed wednesday session lows tensions north korea us added dollop geopolitical uncertainty markets highprofile companies disappointed quarterly results continue reading dow jones industrial average declined 3664 points 02 close 2204870 briefly losing grip psychological milestone 22000 fourteen averages 30 components finished lower walt disney codis biggest weight blue chips tumbling 39 day media giant reported quarterly results announced plans end httpwwwmarketwatchcomstorydisneydetailslaunchofespnanddisneystreamingservicesplansendofnetflixdeal20170808 distribution deal netflix incnflx launch espn disney streaming services shares streaminggiant netflix major contributor overall markets gains year fell 15 sampp 500 index slipped 090 point less 01 finish 247402 overcoming earlier 13point deficit 11 sectors sampp 500 utilities consumerdiscretionary telecom financial sectors finished red nasdaq composite index closed 1813 points 03 635233 paring earlier 61point decline latest escalation tensions washington pyongyang isolated asian country threatened missile strike httpwwwmarketwatchcomstorynorthkoreathreatensmissilestrikeonusbaseonguam20170808 us territory guam saberrattling came day us president donald trump said would respond fire fury like world never seen httpwwwmarketwatchcomstorytrumptodaypresidentsaysnorthkoreafacesfireandfuryifitdoesnthaltthreats20170808 country doesnt halt threats advertisement read morehow trumps threat fire fury rattling stockmarket calm httpwwwmarketwatchcomstoryhowtrumpsthreatoffireandfuryisrattlingstockmarketcalm20170809 check outguams governor says threat us island defended httpwwwmarketwatchcomstoryguamsgovernorthereisnothreatbutamericanislandwillbedefended20170809 heightened tensions come time stocks enjoyed lengthy climb dow recently rose 10 straight sessions streak ended tuesday also halting attempt 10 successive closes record territory sampp also less half percentage point record nasdaq 1 definitely primary reason stocks geopolitical tensions said jj kinahan chief strategist td ameritrade interview thats coming 10 days higher dow still highs much wed like see market go straight theres got day reckoning recent market action slight small intraday moves low volatility monday sampp 500 moved range 02 third smallest range past 20 years according data lpl financial meanwhile cboe volatility index near alltime lows though rose less one point wednesday 58 1160 seen steeper rise paring gains even pullback amazing calm markets even alarming headlines said ryan detrick senior market strategist lpl financial interview far sampp 500 gone 15 sessions without change 03 said amazed calm things detrick said think kind comes headlines strong global economy strong global earnings perfect expanding improving relateda problem buythedip investors dips buy httpwwwmarketwatchcomstoryaproblemforbuythedipinvestorsnodipstobuy20170808 others saw silver linings prospect stockmarket downturn one wants see military escalation think pullback healthy said randy frederick vice president trading derivatives charles schwab individual moverspriceline group incpcln finished 69 onlinetravel broker late tuesday posted quarterly earnings topped forecasts bookings missed expectations httpwwwmarketwatchcomstorypricelinesharesplunge6onsecondquarterresults20170808 tripadvisor inc shares trip rose 25 even operator travel websites reported weakerthanexpected quarterly results httpwwwmarketwatchcomstorytripadvisorsharesfall6aftercompanymissesquarterlyviews20170808 late tuesday handful defense contractors trended higher sabrerattling shares raytheon cortn closed 26 rockwell collins inc col shares rose 06 l3 technologies inclll rose 2 lockheed martin corplmt advanced 17 northrop grumman corpnoc 12 general dynamics corpgd ticked 11 higher retailer office depot incodp plummeted nearly 26 posted quarterly profit missed expectations httpwwwmarketwatchcomstoryofficedepotsprofitmissesexpectationsassalesdecline20170809 drugmaker mylan nvmyl rose 09 results fastfood chain wendys cowen rose 38 economic news productivity many goods services us workers produce hour rose annual rate 09 second quarter httpwwwmarketwatchcomstoryusproductivitypicksupabitinsecondquarter20170809 prior three months labor department said wednesday 01 rate first quarter check outmarketwatchs economic calendar httpwwwmarketwatchcomeconomypoliticscalendarseconomic federal reserve front chicago fed president charles evans said supported starting reduction central banks 45 trillion balance sheet september ambivalent another rate hike year httpwwwmarketwatchcomstoryfedsevansbacksbalancesheetreductionbutambivalenttowardanotherratehike20170809 marketsgold futures httpwwwmarketwatchcomstorygoldgainsabout1asusnorthkoreatensionsgrow20170809 rose 13 settle 127930 ounce investors moved toward safety plays swiss franc httpwwwmarketwatchcomstorydollarslidesvsswissfrancasusnorthkoreadiscordpromptsruntosafety20170809 11 european equities httpwwwmarketwatchcomstoryeuropeanstocksslideasusnorthkoreastrifesendshavenassetshigher20170809 closed lower following lead asian markets httpwwwmarketwatchcomstoryasianmarketsretreatassaberrattlingovernorthkoreaintensifies20170808 finished lower oil futures httpwwwmarketwatchcomstoryoilpricesmovelowerasgeopoliticaltensionsrise20170809 settled 08 4956 barrel latest inventory data showed drop 65 million barrels past week ice us dollar index slightly lower day victor reklaitis london contributed article end dow jones newswires august 09 2017 1637 et 2037 gmt | 598 |
<p />
<p>Many Americans were shocked last week to learn about the size and scope of the U.S. intelligence community’s telephone and Internet surveillance activities.</p>
<p>Continue Reading Below</p>
<p>But investors may also be surprised to learn that same "intel" community operates a formidable venture-capital arm that aims to give the CIA and other spy agencies first dibs on the hottest gadgets and software.</p>
<p>Founded in 1999 as a way for the U.S. to keep up with the rapid innovation in science and technology, In-Q-Tel has been an early backer of start-ups later acquired by Google (NASDAQ:GOOG), Oracle (NASDAQ:ORCL), IBM (NYSE:IBM) and Lockheed Martin (NYSE:LMT).</p>
<p>“If you want to keep up with Silicon Valley, you need to become part of Silicon Valley. The best way to do that is have a budget because when you have a checkbook, everyone comes to you,” said Jim Rickards, an adviser to the U.S. intelligence community who is familiar with the activities of Arlington, Va.-based IQT.</p>
<p>Given the increasing importance of cyber security and big data, it is a safe bet that the U.S. intelligence community will continue to lean on private-sector development in its behind-the-scenes fight against terrorism and other geopolitical threats.</p>
<p>“I think it’s a very prudent way to help ensure that the United States stays secure. You have to stay on the edge of development because the rest of the world isn’t standing still either,” said David Weild, former vice chairman at Nasdaq OMX Group (NASDAQ:NDAQ).</p>
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<p>But like many forms of early investment, backing from spies can come with some significant strings attached and it’s not clear how the fallout of the recent surveillance disclosures may impact future ties between Silicon Valley and organizations like the National Security Agency.</p>
<p>The CIA's 'Tech Incubator'</p>
<p>IQT was officially chartered in February 1999 by a group of private citizens at the behest of then-CIA Director George Tenet and with the support of Congress.</p>
<p>The firm was envisioned as a way to “bridge the gap between the technology needs of the U.S. intelligence community and new advances in commercial technology,” <a href="http://www.iqt.org/index.html" type="external">according to IQT’s website Opens a New Window.</a>.</p>
<p>In a nod to its spy gadget origins, In-Q-Tel is said to be named in part after Agent Q, the fictional MI6 agent responsible for providing James Bond with all the latest wizardry.</p>
<p>While the CIA is credited with scores of meaningful inventions, including the U-2 spy plane and the Corona reconnaissance satellite program, the private sector began to take the lead at the end of last century ahead of the dotcom boom.</p>
<p>“By the ‘80s and definitely by the early 1990s, as hard as they worked, it became clear the coolest stuff was coming out of private companies in Silicon Valley,” said Rickards, who is a consultant on market intelligence at Omnis.</p>
<p>While IQT originally catered largely to the needs of the CIA, today the firm supports many of the 17 agencies within the U.S. intelligence community, including the National Geospatial-Intelligence Agency (NGA), the Defense Intelligence Agency (DIA) and the Department of Homeland Security Science and Technology Directorate.</p>
<p>Deep Pockets</p>
<p>IQT doesn’t release detailed data on its investments, but it’s clear the firm has a significant amount of cash to deploy as it searches for the latest spy gear.</p>
<p>According to IRS filings, IQT received $63.94 million in grants and contributions in 2011, up from $56.46 million in 2010, $56.42 million in 2009 and $50.43 million in 2008. IQT also received $4.74 million in investment income in the fiscal year ending March 2012.</p>
<p>"All professional money comes with restrictions and stipulations."</p>
<p>The IRS filings also show that IQT listed total assets of $218.66 million as of March 2012.</p>
<p>It’s not clear how many people work at IQT, but the firm listed salaries of $22.07 million in the 12 months ending March 2012 and its employees include former intelligence officials and Wall Street executives. IQT is led by former Intel (NASDAQ:INTC) exec Christopher Darby, who received about $1.96 million in total compensation in the last fiscal year.</p>
<p>IQT declined to comment or authorize an executive to speak on the record for this story. The CIA also declined to comment.</p>
<p>Not Your Father's VC Firm</p>
<p>Unlike traditional venture-capital firms like Accel Partners that focus heavily on making a meaningful return on investment, not-for-profit IQT has far more of a strategic aim not unlike the corporate venture capital arms of <a href="http://www.intelcapital.com/" type="external">Intel Opens a New Window.</a> and <a href="" type="external">Google Opens a New Window.</a>.</p>
<p>“Clearly their point is not to necessarily make a profit but to find strategic investments that support their mother organization,” said Mark Cannice, a professor at the University of San Francisco.</p>
<p>In many cases, IQT recruits other top-tier venture capital or hedge funds to co-invest in start-ups. IQT says that for every dollar it invests in a company, the venture community has invested over $9. The firm also said it has leveraged more than $3.9 billion in private-sector funds.</p>
<p>Over the years IQT has invested in more than 180 portfolio companies, including a <a href="http://www.iqt.org/portfolio/alumni.html" type="external">slew of tech start-ups that have been acquired by household Silicon Valley names Opens a New Window.</a>.</p>
<p>For example, in October 2004 Google acquired Keyhole, an IQT-backed company that provided a 3-D visualization of mapping data technology and later became the basis of Google Earth.</p>
<p><a href="http://www.iqt.org/portfolio/alphabetical.html" type="external">IQT lists 98 companies in its current portfolio Opens a New Window.</a>, everything from intelligent cloud management software maker Adaptive Computing to global climate intelligence company Weather Analytics.</p>
<p>Strings Attached</p>
<p>For early-stage entrepreneurs, the prospect of receiving funding from IQT and the likelihood of locking up a massive customer -- the world’s most powerful intelligence agencies -- can certainly be enticing.</p>
<p>But like most forms of investment, there may be some caveats that go along with this strategic support from IQT.</p>
<p>For starters, IQT may require the start-ups to agree to provide their products and services exclusively to the intelligence community for a period of time. IQT could also flex its muscle to push early-stage companies in a direction that caters more to the government’s needs.</p>
<p>“All professional money comes with restrictions and stipulations and it’s negotiated,” said Weild, currently CEO of Wield &amp; Co. “You may have to modify your vision a little bit.”</p>
<p>Still, it seems the benefits of working so closely with the intelligence community would far outweigh these concessions.</p>
<p>“The government’s the best customer in the world,” said Rickards.</p>
<p>It’s too early to tell if there will be any fallout on IQT’s ability to invest in early-stage companies due to the bombshell revelations last week about the <a href="" type="internal">NSA collecting phone data from Verizon</a> (NYSE:VZ) and <a href="" type="internal">online data from at least nine Internet companies</a>, including Facebook (NASDAQ:FB), Yahoo (NASDAQ:YHOO), AOL (NYSE:AOL) and Microsoft (NASDAQ:MSFT).</p>
<p>Cedric Leighton, a former NSA official, said while there is the "potential for there to be some blowback in that realm," he believes IQT will "continue to be a key incubator of technology for the intelligence community."</p>
<p>“I don’t think this will cause any problem on the investment front at all,” said Weild. “I think they’ll take their money, expertise and potential for a big contract any day.”</p>
<p>IQT Covets Next-Gen Tech</p>
<p>So what kind of companies might the CIA be eyeing for future investment?</p>
<p>In general, IQT seeks to invest in start-ups that have already developed commercially-focused technologies that can deliver “near-term advantages” within three months to the intel community.</p>
<p>While IQT throws its weight behind a wide variety of start-ups, its focus is primarily in two areas: information and communications technologies and physical and biological technologies.</p>
<p>The first realm includes advanced analytic tools used to grapple with big data, next-generation infrastructure and computing platforms, mobile and wireless technologies like security platforms, geospatial tools and digital identity analytics like biometric tools.</p>
<p>Inside the physical and biological world, IQT is interested in materials science, advanced genetic analysis, biological technologies used for detection and diagnostics, optics and nuclear detection.</p>
<p>“I’ve found that our technical capabilities often far exceed what you see in Tom Cruise films,” former CIA Director David Petraeus said in a March 2012 speech at the IQT CEO Summit. “But there are a few feats he can accomplish in the movies that we can’t;&#160;we haven’t figured out, for example, how to change an individual’s fingerprints or eyeballs just yet -- but give us time.”</p> | true | 0 | many americans shocked last week learn size scope us intelligence communitys telephone internet surveillance activities continue reading investors may also surprised learn intel community operates formidable venturecapital arm aims give cia spy agencies first dibs hottest gadgets software founded 1999 way us keep rapid innovation science technology inqtel early backer startups later acquired google nasdaqgoog oracle nasdaqorcl ibm nyseibm lockheed martin nyselmt want keep silicon valley need become part silicon valley best way budget checkbook everyone comes said jim rickards adviser us intelligence community familiar activities arlington vabased iqt given increasing importance cyber security big data safe bet us intelligence community continue lean privatesector development behindthescenes fight terrorism geopolitical threats think prudent way help ensure united states stays secure stay edge development rest world isnt standing still either said david weild former vice chairman nasdaq omx group nasdaqndaq advertisement like many forms early investment backing spies come significant strings attached clear fallout recent surveillance disclosures may impact future ties silicon valley organizations like national security agency cias tech incubator iqt officially chartered february 1999 group private citizens behest thencia director george tenet support congress firm envisioned way bridge gap technology needs us intelligence community new advances commercial technology according iqts website opens new window nod spy gadget origins inqtel said named part agent q fictional mi6 agent responsible providing james bond latest wizardry cia credited scores meaningful inventions including u2 spy plane corona reconnaissance satellite program private sector began take lead end last century ahead dotcom boom 80s definitely early 1990s hard worked became clear coolest stuff coming private companies silicon valley said rickards consultant market intelligence omnis iqt originally catered largely needs cia today firm supports many 17 agencies within us intelligence community including national geospatialintelligence agency nga defense intelligence agency dia department homeland security science technology directorate deep pockets iqt doesnt release detailed data investments clear firm significant amount cash deploy searches latest spy gear according irs filings iqt received 6394 million grants contributions 2011 5646 million 2010 5642 million 2009 5043 million 2008 iqt also received 474 million investment income fiscal year ending march 2012 professional money comes restrictions stipulations irs filings also show iqt listed total assets 21866 million march 2012 clear many people work iqt firm listed salaries 2207 million 12 months ending march 2012 employees include former intelligence officials wall street executives iqt led former intel nasdaqintc exec christopher darby received 196 million total compensation last fiscal year iqt declined comment authorize executive speak record story cia also declined comment fathers vc firm unlike traditional venturecapital firms like accel partners focus heavily making meaningful return investment notforprofit iqt far strategic aim unlike corporate venture capital arms intel opens new window google opens new window clearly point necessarily make profit find strategic investments support mother organization said mark cannice professor university san francisco many cases iqt recruits toptier venture capital hedge funds coinvest startups iqt says every dollar invests company venture community invested 9 firm also said leveraged 39 billion privatesector funds years iqt invested 180 portfolio companies including slew tech startups acquired household silicon valley names opens new window example october 2004 google acquired keyhole iqtbacked company provided 3d visualization mapping data technology later became basis google earth iqt lists 98 companies current portfolio opens new window everything intelligent cloud management software maker adaptive computing global climate intelligence company weather analytics strings attached earlystage entrepreneurs prospect receiving funding iqt likelihood locking massive customer worlds powerful intelligence agencies certainly enticing like forms investment may caveats go along strategic support iqt starters iqt may require startups agree provide products services exclusively intelligence community period time iqt could also flex muscle push earlystage companies direction caters governments needs professional money comes restrictions stipulations negotiated said weild currently ceo wield amp co may modify vision little bit still seems benefits working closely intelligence community would far outweigh concessions governments best customer world said rickards early tell fallout iqts ability invest earlystage companies due bombshell revelations last week nsa collecting phone data verizon nysevz online data least nine internet companies including facebook nasdaqfb yahoo nasdaqyhoo aol nyseaol microsoft nasdaqmsft cedric leighton former nsa official said potential blowback realm believes iqt continue key incubator technology intelligence community dont think cause problem investment front said weild think theyll take money expertise potential big contract day iqt covets nextgen tech kind companies might cia eyeing future investment general iqt seeks invest startups already developed commerciallyfocused technologies deliver nearterm advantages within three months intel community iqt throws weight behind wide variety startups focus primarily two areas information communications technologies physical biological technologies first realm includes advanced analytic tools used grapple big data nextgeneration infrastructure computing platforms mobile wireless technologies like security platforms geospatial tools digital identity analytics like biometric tools inside physical biological world iqt interested materials science advanced genetic analysis biological technologies used detection diagnostics optics nuclear detection ive found technical capabilities often far exceed see tom cruise films former cia director david petraeus said march 2012 speech iqt ceo summit feats accomplish movies cant160we havent figured example change individuals fingerprints eyeballs yet give us time | 844 |
<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: Majedie</p>
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<p>Asset</p>
<p>Management</p>
<p>Limited</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</p>
<p>securities this form relates: TESCO PLC</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: 30 January</p>
<p>For an opening position disclosure, state the latest 2018</p>
<p>practicable date prior to the disclosure</p>
<p>(f) In addition to the company in 1(c) above, is the No</p>
<p>discloser making disclosures in respect of any other</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: ORD 5P</p>
<p>Short</p>
<p>Interests positions</p>
<p>Number % Number %</p>
<p>(1) Relevant securities owned and/or controlled: 313,566,650 3.83</p>
<p>(2) Cash-settled derivatives:</p>
<p>(3) Stock-settled derivatives (including options)</p>
<p>and agreements to purchase/sell:</p>
<p>TOTAL: 313,566,650 3.83</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</p>
<p>security Purchase/sale Number of securities Price per unit</p>
<p>ORD 5P Buy 1,798,583 209.1536</p>
<p>ORD 5P Buy 1,053,438 208.9771</p>
<p>(b) Cash-settled derivative transactions</p>
<p>Class of Product description Nature of dealing Number of Price</p>
<p>relevant e.g. CFD e.g. opening/closing a long/short position, increasing/reducing reference per</p>
<p>security a long/short position securities unit</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: 31 January 2018</p>
<p>Contact name: James Tanqueray</p>
<p>Telephone number: 0207 618 3900</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: Majedie Asset Management Ltd via Globenewswire</p>
<p>(END) Dow Jones Newswires</p>
<p>January 31, 2018 05:40 ET (10:40 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 majedie advertisement asset management limited 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 securities form relates tesco plc use separate form offerorofferee exempt fund manager connected offerorofferee state specify identity offerorofferee e date position helddealing undertaken 30 january opening position disclosure state latest 2018 practicable date prior disclosure f addition company 1c discloser making disclosures respect 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 ord 5p short interests positions number number 1 relevant securities owned andor controlled 313566650 383 2 cashsettled derivatives 3 stocksettled derivatives including options agreements purchasesell total 313566650 383 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 security purchasesale number securities price per unit ord 5p buy 1798583 2091536 ord 5p buy 1053438 2089771 b cashsettled derivative transactions class product description nature dealing number price relevant eg cfd eg openingclosing longshort position increasingreducing reference per security longshort position securities unit 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 31 january 2018 contact name james tanqueray telephone number 0207 618 3900 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 majedie asset management ltd via globenewswire end dow jones newswires january 31 2018 0540 et 1040 gmt | 553 |
<p><a href="https://i0.wp.com/powerline.wpengine.com/ed-assets/2012/09/images2.jpeg" type="external" />Politico, like almost all media outlets, is trying its best to drag Barack Obama’s sorry carcass across the finish line. One of the leaders of that effort is the site’s chief political columnist, Roger Simon (no relation to our friend Roger L. Simon of PJ Media). Media liberals are desperately trying to push two themes on the American public: 1) Barack Obama is winning the presidential race, and 2) Mitt Romney’s campaign is in disarray. They think that this will help Obama win the election, although, as I argued <a href="http://powerline.wpengine.com/archives/2012/09/is-the-liberal-press-shooting-itself-in-the-foot.php" type="external">here</a>, it is by no means clear that pushing those themes will in fact help Obama.</p>
<p>Liberal journalists push theme #1–Obama is winning–by first carrying out, and then relentlessly publicizing, polls that ridiculously over-sample Democrats, so as to prove the uncontroversial proposition that if you ask a lot of Democrats whom they intend to vote for, most of them will say Obama. What they have mostly succeeded in doing is creating a scandal concerning obviously mendacious polling.</p>
<p>Journalists have a problem with theme #2–the Romney campaign is in disarray–because it isn’t. Actually, the Romney campaign is as close to a well-oiled machine as you will see in presidential politics. If you are looking for disarray, check out the Obama administration. But don’t expect to read about it in the New York Times, or Politico.</p>
<p>So this brings us back to Politico’s chief political correspondent, Roger Simon. No doubt he would have liked to write a column about actual disarray in the Romney campaign, but being unable to do so, he instead wrote a satire column imagining such disarray; specifically, imagining conflict between Mitt Romney and Paul Ryan. Is it obvious that Simon’s column was intended as comedy? Well, it isn’t very funny. Here is how it begins; let us know when you get to the first chuckle:</p>
<p><a href="https://i0.wp.com/powerline.wpengine.com/ed-assets/2012/09/Ryan0338.jpeg" type="external" /></p>
<p>Paul Ryan has gone rogue. He is unleashed, unchained, off the hook.</p>
<p>“I hate to say this, but if Ryan wants to run for national office again, he’ll probably have to wash the stench of Romney off of him,” Craig Robinson, a former political director of the Republican Party of Iowa, told The New York Times on Sunday.</p>
<p>That is, amazingly enough, a genuine quote from someone who appears to be an actual Republican. Everything that follows is fiction.</p>
<p>Coming from a resident of Iowa, a state where people are polite even to soybeans, this was a powerful condemnation of the Republican nominee.</p>
<p>Though Ryan had already decided to distance himself from the floundering Romney campaign, he now feels totally uninhibited. Reportedly, he has been marching around his campaign bus, saying things like, “If Stench calls, take a message” and “Tell Stench I’m having finger sandwiches with Peggy Noonan and will text him later.”</p>
<p>Even before the stench article appeared, there was a strong sign that Ryan was freeing himself from the grips of the Romney campaign. It began after his disastrous appearance on Friday before AARP in New Orleans.</p>
<p>It goes on for a long time in the same vein; follow the link if you have any appetite for more. So, was it reasonable for Simon’s fellow Democrats to fail to notice that his column was intended as comedy? Later in the column, Simon wrote:</p>
<p>A word about PowerPoint. PowerPoint was released by Microsoft in 1990 as a way to euthanize cattle using a method less cruel than hitting them over the head with iron mallets. After PETA successfully argued in court that PowerPoint actually was more cruel than iron mallets, the program was adopted by corporations for slide show presentations.</p>
<p>Conducting a PowerPoint presentation is a lot like smoking a cigar. Only the person doing it likes it. The people around him want to hit him with a chair.</p>
<p>PowerPoint is usually restricted to conference rooms where the doors are locked from the outside. It is, therefore, considered unsuited for large rallies, where people have a means of escape and where the purpose is to energize rather than daze.</p>
<p>I don’t know, that strikes me as sort of humorous. Readers should have been able to figure out that Simon’s column wasn’t exactly on the level. But liberals are so desperate for evidence that the Romney campaign is on the rocks–a theme with no support in the world known as “real”–that they swallowed it hook, line and sinker. Tobin Harshaw of <a href="http://www.bloomberg.com/news/2012-09-26/politico-s-paul-ryan-satire-the-joke-s-on-them.html" type="external">Bloomberg</a> has a roundup:</p>
<p><a href="https://i1.wp.com/powerline.wpengine.com/ed-assets/2012/09/KrugmanDeranged0888.jpeg" type="external" /></p>
<p>Times columnist Paul Krugman:</p>
<p>Can I say that even though I’m not exactly a fan of Mitt Romney’s, this is just bad behavior? You’re supposed to wait until it’s actually over before you do this kind of thing. Anyway, I like how Ryan is declaring independence: by using PowerPoint!</p>
<p>Which means that Krugman actually read the Power Point riff quoted above, and still didn’t discern that the column was supposed to be funny. So, Paul, does that mean you can be a complete moron and still win a Nobel Prize for anti-Americanism?</p>
<p>Tommy Christopher of press-gossip site Mediaite:</p>
<p>Simon’s anecdote has the recognizable (to the Beltway crowd) ring of truth that renders it canonical in political circles … Simon’s anecdote demonstrates that the Romney campaign’s toxic press is in Ryan’s head. In this electoral game of chicken, Ryan is already unbuckling his seatbelt and visualizing his roll onto the shoulder.</p>
<p>Joe Gandelman of the Moderate Voice:</p>
<p>Have we ever heard of a winning Presidential ticket in American politics that had a Vice Presidential candidate have an attitude like this about his running mate? Talk about a total lack of deference (or respect).</p>
<p>Liberal radio personality Taylor Marsh:</p>
<p>Ryan is trying to save himself so he can live to run another day. Roger Simon’s piece has spread like wildfire and is causing a gigantic ripple.</p>
<p>Steve Benen at MSNBC host Rachel Maddow’s blog:</p>
<p>In applied terms, Simon’s piece went on to note that Ryan no longer likes the directions “dictated by his Romney handlers.” It’s quite a presidential campaign, isn’t it?</p>
<p>David Ferguson of the Raw Story:</p>
<p>According to Simon’s anonymous sources, the Romney “brain trust” of senior campaign officials in Boston have taken to calling Ryan “Gilligan.” Campaign headquarters apparently feels that the man brought on to the ticket for his alleged deftness in navigating complicated snarls of budget and policy numbers is turning out to be an intellectual flyweight.</p>
<p>That’s an impressive list of left-wing media personalities, all of whom are evidently more clueless than the average seventh-grader. Why? Because they are desperate. They fervently want Barack Obama to be re-elected, but they know his administration has been a disaster, and they fear that most Americans have noticed. So they are hysterical pretty much 24/7 and are not in the mood for nuance, to the point where they can’t even discern Roger Simon’s less than subtle effort to use fiction to discredit the Romney campaign. Or here is another way to look at it: the Democrats are past the point where they can deal with reality, and they are happy to rally round any comfortable piece of fiction that comes their way.</p> | true | 0 | politico like almost media outlets trying best drag barack obamas sorry carcass across finish line one leaders effort sites chief political columnist roger simon relation friend roger l simon pj media media liberals desperately trying push two themes american public 1 barack obama winning presidential race 2 mitt romneys campaign disarray think help obama win election although argued means clear pushing themes fact help obama liberal journalists push theme 1obama winningby first carrying relentlessly publicizing polls ridiculously oversample democrats prove uncontroversial proposition ask lot democrats intend vote say obama mostly succeeded creating scandal concerning obviously mendacious polling journalists problem theme 2the romney campaign disarraybecause isnt actually romney campaign close welloiled machine see presidential politics looking disarray check obama administration dont expect read new york times politico brings us back politicos chief political correspondent roger simon doubt would liked write column actual disarray romney campaign unable instead wrote satire column imagining disarray specifically imagining conflict mitt romney paul ryan obvious simons column intended comedy well isnt funny begins let us know get first chuckle paul ryan gone rogue unleashed unchained hook hate say ryan wants run national office hell probably wash stench romney craig robinson former political director republican party iowa told new york times sunday amazingly enough genuine quote someone appears actual republican everything follows fiction coming resident iowa state people polite even soybeans powerful condemnation republican nominee though ryan already decided distance floundering romney campaign feels totally uninhibited reportedly marching around campaign bus saying things like stench calls take message tell stench im finger sandwiches peggy noonan text later even stench article appeared strong sign ryan freeing grips romney campaign began disastrous appearance friday aarp new orleans goes long time vein follow link appetite reasonable simons fellow democrats fail notice column intended comedy later column simon wrote word powerpoint powerpoint released microsoft 1990 way euthanize cattle using method less cruel hitting head iron mallets peta successfully argued court powerpoint actually cruel iron mallets program adopted corporations slide show presentations conducting powerpoint presentation lot like smoking cigar person likes people around want hit chair powerpoint usually restricted conference rooms doors locked outside therefore considered unsuited large rallies people means escape purpose energize rather daze dont know strikes sort humorous readers able figure simons column wasnt exactly level liberals desperate evidence romney campaign rocksa theme support world known realthat swallowed hook line sinker tobin harshaw bloomberg roundup times columnist paul krugman say even though im exactly fan mitt romneys bad behavior youre supposed wait actually kind thing anyway like ryan declaring independence using powerpoint means krugman actually read power point riff quoted still didnt discern column supposed funny paul mean complete moron still win nobel prize antiamericanism tommy christopher pressgossip site mediaite simons anecdote recognizable beltway crowd ring truth renders canonical political circles simons anecdote demonstrates romney campaigns toxic press ryans head electoral game chicken ryan already unbuckling seatbelt visualizing roll onto shoulder joe gandelman moderate voice ever heard winning presidential ticket american politics vice presidential candidate attitude like running mate talk total lack deference respect liberal radio personality taylor marsh ryan trying save live run another day roger simons piece spread like wildfire causing gigantic ripple steve benen msnbc host rachel maddows blog applied terms simons piece went note ryan longer likes directions dictated romney handlers quite presidential campaign isnt david ferguson raw story according simons anonymous sources romney brain trust senior campaign officials boston taken calling ryan gilligan campaign headquarters apparently feels man brought ticket alleged deftness navigating complicated snarls budget policy numbers turning intellectual flyweight thats impressive list leftwing media personalities evidently clueless average seventhgrader desperate fervently want barack obama reelected know administration disaster fear americans noticed hysterical pretty much 247 mood nuance point cant even discern roger simons less subtle effort use fiction discredit romney campaign another way look democrats past point deal reality happy rally round comfortable piece fiction comes way | 645 |
<p>Proposals floating around Washington to cap the amount that Americans can contribute before taxes to 401(k) plans and individual retirement accounts are unsettling professionals in the retirement industry.</p>
<p>Republicans are looking for ways to generate revenue to support broad reductions in individual tax rates. One idea is to limit the amount of pretax money households can sock away for retirement saving. Such a move would likely generate significant political blowback but it hasn't been explicitly ruled out, stirring worry among industry lobbyists.</p>
<p>Continue Reading Below</p>
<p>Members of the House Ways and Means Committee are widely expected to release a version of the tax bill by mid-November. Specifics on a wide range of issues remain unclear. Emily Schillinger, a spokeswoman for the Ways and Means Committee, declined to comment.</p>
<p>Lobbyists and others in the retirement and financial services industries who have spoken to congressional staff and committee members say lawmakers are looking at proposals that would allow 401(k) participants to contribute significantly less than what is currently allowed in a traditional tax-deferred 401(k). An often mentioned amount is $2,400 a year. It isn't clear whether that would only apply to 401(k)s or IRAs or both.</p>
<p>Currently, employees under age 50 can save up to $18,000 a year in a 401(k), while those 50 or older can set aside up to $24,000. In an IRA, the annual contribution limits are capped at $5,500 and $6,500 for the same age groupings. The 401(k) limits are scheduled to rise to $18,500 and $24,500 in 2018.</p>
<p>There are two basic types of retirement accounts. With a traditional 401(k) or IRA, account holders generally get to subtract their contributions from their income. But they must pay ordinary income taxes on the money when they withdraw it, typically in retirement when many people are in a lower tax bracket.</p>
<p>With the second variety, called a Roth 401(k) or Roth IRA, there is no upfront tax deduction but the money grows tax-free.</p>
<p>Advertisement</p>
<p>Under some of the proposals being floated, contributions above the amount set for tax-deferred savings would have to go into a Roth account. The change wouldn't affect existing balances in traditional 401(k)s and IRAs, those people said, and it is likely that any matching contribution from an employer would continue to go into a tax-deferred 401(k) account.</p>
<p>Congress's goal in making the switch is to reduce a tax break that is projected to cut federal revenue by $115.3 billion this fiscal year so the money can be used to pay for lower tax rates. The switch could boost government revenue over the next decade, the period when the tax bill will likely face a $1.5 trillion cost constraint.</p>
<p>Lawmakers may also make changes to an underused tax credit that acts like a government match to retirement savings.</p>
<p>If lawmakers enact these changes, many savers will face a choice between maintaining their current savings rate or their current take-home pay.</p>
<p>For example, someone in the 25% income-tax bracket who puts $1,000 into a traditional 401(k) today would save $250 in taxes -- for a net decline in take-home pay of $750. But if forced to use a Roth instead, that person would lose the $250 tax savings up front and take-home pay would decline by the $1000 that goes into the 401(k).</p>
<p>As a result, many opponents predict all but the wealthy are likely to cut their contributions -- an outcome that would stand to slow the growth of the asset-management industry.</p>
<p>When the White House unveiled the outline of its tax overhaul plan in April, officials promised to preserve existing tax breaks for retirement plans. A more detailed plan released by the White House and congressional leaders in September pledged to retain "tax benefits that encourage work, higher education and retirement security" but left open the possibility of changes to "simplify these benefits to improve their efficiency and effectiveness."</p>
<p>Sen. Rob Portman (R., Ohio) said he was "skeptical" about the idea of lower pretax deferrals for retirement savings.</p>
<p>Mr. Portman said Thursday that he didn't want to make the decision just for revenue reasons.</p>
<p>"I'm deeply concerned about it," he said. "I don't think you want to disincentivize retirement savings in any way right now."</p>
<p>Americans have saved about $7.5 trillion in 401(k)-type accounts, plus $8.4 trillion in individual retirement accounts, according to the Investment Company Institute, a trade group for mutual funds. But some researchers say a significant percentage of Americans haven't saved enough to maintain their standard of living in retirement.</p>
<p>Industry groups have an incentive to keep the status quo and are scrambling to preserve the tax benefits of the current system. Earlier this year, AARP joined with groups representing employers and asset managers -- including Fidelity Investments, T. Rowe Price Group, Inc. and TIAA -- to form Save Our Savings Coalition to lobby for the existing tax treatment of retirement plans.</p>
<p>"Asset managers tend to not like the Roth approach," says Shai Akabas, director of economic policy at the Bipartisan Policy Center in Washington, which is studying the potential impact on savings rates of a Roth switch. Because taxes are taken out at the beginning, he said, assets in retirement accounts -- and the fees these companies collect on them -- are likely to be lower.</p>
<p>Write to Anne Tergesen at [email protected] and Richard Rubin at [email protected]</p>
<p>Proposals to cap the amount that Americans can contribute before taxes to 401(k) plans and individual retirement accounts are unsettling professionals in the retirement industry.</p>
<p>Congressional Republicans are looking for ways to generate revenue to support broad reductions in individual tax rates. One idea is to limit the amount of pretax money households can sock away for retirement saving. Such a move would likely generate significant political blowback, but it hasn't been explicitly ruled out, stirring worry among industry lobbyists.</p>
<p>Many opponents say any plan that cuts contribution limits would slow the growth of the asset-management industry.</p>
<p>Members of the House Ways and Means Committee are widely expected to release a version of the tax bill by mid-November. Specifics on a wide range of issues remain unclear. Emily Schillinger, a spokeswoman for the Ways and Means Committee, declined to comment.</p>
<p>Lobbyists and others in the retirement and financial-services industries who have spoken to congressional staff and committee members say lawmakers are looking at proposals that would allow 401(k) participants to contribute significantly less before taxes than what is currently allowed in a traditional tax-deferred 401(k). An often mentioned amount is $2,400 a year. It isn't clear whether that would apply only to 401(k)s or IRAs or both.</p>
<p>Currently, employees under age 50 can save up to $18,000 a year in a 401(k) before taxes, while those 50 or older can set aside up to $24,000. In an IRA, the annual contribution limits are capped at $5,500 and $6,500 for the same age groupings. The 401(k) limits are scheduled to rise to $18,500 and $24,500 in 2018.</p>
<p>Dave Gray, a senior vice president at Fidelity Investments, said a $2,400 limit would give the company a significant concern and would essentially require trade-offs between the certainty of the immediate deduction and the prospect of tax-free retirement income.</p>
<p>Mr. Gray, speaking Friday at the U.S. Chamber of Commerce in Washington, said that implementing such a system would be extremely difficult and could take the industry 12 to 24 months to implement.</p>
<p>There are two basic types of retirement accounts. With a traditional 401(k) or IRA, account holders generally get to subtract their contributions from their income. But they must pay ordinary income taxes on the money when they withdraw it, typically in retirement when many people are in a lower tax bracket.</p>
<p>With the second variety, called a Roth 401(k) or Roth IRA, there is no upfront tax deduction but the money increases tax-free.</p>
<p>Under some of the proposals being floated, contributions above the amount set for tax-deferred savings would have to go into a Roth account. The change wouldn't affect existing balances in traditional 401(k)s and IRAs, those people said, and it is likely that any matching contribution from an employer would continue to go into a tax-deferred 401(k) account.</p>
<p>Congress's goal in making the switch is to reduce a tax break that is projected to cut federal revenue by $115.3 billion this fiscal year so the money can be used to pay for lower tax rates. The switch could boost government revenue over the next decade, the period when the tax bill will likely face a $1.5 trillion cost constraint.</p>
<p>Shifting to Roth-style accounts would move tax revenue from the future to the near term.</p>
<p>That would help Republicans meet budgetary targets now but could cause problems with a requirement that prevents the tax bill from expanding long-run deficits if they want to pass a bill without Democratic votes under a fast-track process.</p>
<p>With the aim of targeting retirement-tax incentives more directly at the middle class, lawmakers may also make changes to an underused tax credit that acts like a government match to retirement savings.</p>
<p>If lawmakers enact these changes, many savers will face a choice between maintaining their current savings rate or their current take-home pay.</p>
<p>For example, someone in the 25% income-tax bracket who puts $1,000 into a traditional 401(k) today would save $250 in taxes, reducing take-home pay by a net amount of $750. But if forced to put $1,000 in a Roth account, take-home pay would decline by the full $1,000, because there was no tax deduction. The advantage is that there would be no taxes due when the money is removed later from the retirement account.</p>
<p>When the White House unveiled the outline of its tax-overhaul plan in April, officials promised to preserve existing tax breaks for retirement plans. A more detailed plan released by the White House and congressional leaders in September pledged to retain "tax benefits that encourage work, higher education and retirement security" but left open the possibility of changes to "simplify these benefits to improve their efficiency and effectiveness."</p>
<p>Sen. Rob Portman (R., Ohio) said he was skeptical about the idea of lower pretax deferrals for retirement savings.</p>
<p>Mr. Portman said Thursday that he didn't want to make the decision just for revenue reasons. "I'm deeply concerned about it," he said. "I don't think you want to disincentivize retirement savings in any way right now."</p>
<p>In a statement, Senate Minority Leader Chuck Schumer (D., N.Y.) criticized the idea of capping pretax contributions to retirement savings accounts. "Republicans are so determined to cut taxes on the wealthy that they're willing to tax the retirement accounts of millions of middle-class Americans," he said. "The GOP's total devotion to millionaires and billionaires comes at the expense of every family using a 401(k) to save for a decent retirement."</p>
<p>Americans have saved about $7.5 trillion in 401(k)-type accounts, plus $8.4 trillion in individual retirement accounts, according to the Investment Company Institute, a trade group for mutual funds. But some researchers say a significant percentage of Americans haven't saved enough to maintain their standard of living in retirement.</p>
<p>Industry groups have an incentive to keep the status quo and are trying to preserve the tax benefits of the current system. This year, AARP joined with groups representing employers and asset managers -- including Fidelity Investments, T. Rowe Price Group Inc. and TIAA -- to form Save Our Savings Coalition to lobby for the existing tax treatment of retirement plans.</p>
<p>"Asset managers tend to not like the Roth approach," says Shai Akabas, director of economic policy at the Bipartisan Policy Center in Washington, which is studying the potential impact on saving rates of a Roth switch. Because taxes are taken out at the beginning, he said, assets in retirement accounts, and the fees these companies collect on them, are likely to be lower.</p>
<p>Write to Anne Tergesen at [email protected] and Richard Rubin at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>October 20, 2017 18:12 ET (22:12 GMT)</p> | true | 0 | proposals floating around washington cap amount americans contribute taxes 401k plans individual retirement accounts unsettling professionals retirement industry republicans looking ways generate revenue support broad reductions individual tax rates one idea limit amount pretax money households sock away retirement saving move would likely generate significant political blowback hasnt explicitly ruled stirring worry among industry lobbyists continue reading members house ways means committee widely expected release version tax bill midnovember specifics wide range issues remain unclear emily schillinger spokeswoman ways means committee declined comment lobbyists others retirement financial services industries spoken congressional staff committee members say lawmakers looking proposals would allow 401k participants contribute significantly less currently allowed traditional taxdeferred 401k often mentioned amount 2400 year isnt clear whether would apply 401ks iras currently employees age 50 save 18000 year 401k 50 older set aside 24000 ira annual contribution limits capped 5500 6500 age groupings 401k limits scheduled rise 18500 24500 2018 two basic types retirement accounts traditional 401k ira account holders generally get subtract contributions income must pay ordinary income taxes money withdraw typically retirement many people lower tax bracket second variety called roth 401k roth ira upfront tax deduction money grows taxfree advertisement proposals floated contributions amount set taxdeferred savings would go roth account change wouldnt affect existing balances traditional 401ks iras people said likely matching contribution employer would continue go taxdeferred 401k account congresss goal making switch reduce tax break projected cut federal revenue 1153 billion fiscal year money used pay lower tax rates switch could boost government revenue next decade period tax bill likely face 15 trillion cost constraint lawmakers may also make changes underused tax credit acts like government match retirement savings lawmakers enact changes many savers face choice maintaining current savings rate current takehome pay example someone 25 incometax bracket puts 1000 traditional 401k today would save 250 taxes net decline takehome pay 750 forced use roth instead person would lose 250 tax savings front takehome pay would decline 1000 goes 401k result many opponents predict wealthy likely cut contributions outcome would stand slow growth assetmanagement industry white house unveiled outline tax overhaul plan april officials promised preserve existing tax breaks retirement plans detailed plan released white house congressional leaders september pledged retain tax benefits encourage work higher education retirement security left open possibility changes simplify benefits improve efficiency effectiveness sen rob portman r ohio said skeptical idea lower pretax deferrals retirement savings mr portman said thursday didnt want make decision revenue reasons im deeply concerned said dont think want disincentivize retirement savings way right americans saved 75 trillion 401ktype accounts plus 84 trillion individual retirement accounts according investment company institute trade group mutual funds researchers say significant percentage americans havent saved enough maintain standard living retirement industry groups incentive keep status quo scrambling preserve tax benefits current system earlier year aarp joined groups representing employers asset managers including fidelity investments rowe price group inc tiaa form save savings coalition lobby existing tax treatment retirement plans asset managers tend like roth approach says shai akabas director economic policy bipartisan policy center washington studying potential impact savings rates roth switch taxes taken beginning said assets retirement accounts fees companies collect likely lower write anne tergesen annetergesenwsjcom richard rubin richardrubinwsjcom proposals cap amount americans contribute taxes 401k plans individual retirement accounts unsettling professionals retirement industry congressional republicans looking ways generate revenue support broad reductions individual tax rates one idea limit amount pretax money households sock away retirement saving move would likely generate significant political blowback hasnt explicitly ruled stirring worry among industry lobbyists many opponents say plan cuts contribution limits would slow growth assetmanagement industry members house ways means committee widely expected release version tax bill midnovember specifics wide range issues remain unclear emily schillinger spokeswoman ways means committee declined comment lobbyists others retirement financialservices industries spoken congressional staff committee members say lawmakers looking proposals would allow 401k participants contribute significantly less taxes currently allowed traditional taxdeferred 401k often mentioned amount 2400 year isnt clear whether would apply 401ks iras currently employees age 50 save 18000 year 401k taxes 50 older set aside 24000 ira annual contribution limits capped 5500 6500 age groupings 401k limits scheduled rise 18500 24500 2018 dave gray senior vice president fidelity investments said 2400 limit would give company significant concern would essentially require tradeoffs certainty immediate deduction prospect taxfree retirement income mr gray speaking friday us chamber commerce washington said implementing system would extremely difficult could take industry 12 24 months implement two basic types retirement accounts traditional 401k ira account holders generally get subtract contributions income must pay ordinary income taxes money withdraw typically retirement many people lower tax bracket second variety called roth 401k roth ira upfront tax deduction money increases taxfree proposals floated contributions amount set taxdeferred savings would go roth account change wouldnt affect existing balances traditional 401ks iras people said likely matching contribution employer would continue go taxdeferred 401k account congresss goal making switch reduce tax break projected cut federal revenue 1153 billion fiscal year money used pay lower tax rates switch could boost government revenue next decade period tax bill likely face 15 trillion cost constraint shifting rothstyle accounts would move tax revenue future near term would help republicans meet budgetary targets could cause problems requirement prevents tax bill expanding longrun deficits want pass bill without democratic votes fasttrack process aim targeting retirementtax incentives directly middle class lawmakers may also make changes underused tax credit acts like government match retirement savings lawmakers enact changes many savers face choice maintaining current savings rate current takehome pay example someone 25 incometax bracket puts 1000 traditional 401k today would save 250 taxes reducing takehome pay net amount 750 forced put 1000 roth account takehome pay would decline full 1000 tax deduction advantage would taxes due money removed later retirement account white house unveiled outline taxoverhaul plan april officials promised preserve existing tax breaks retirement plans detailed plan released white house congressional leaders september pledged retain tax benefits encourage work higher education retirement security left open possibility changes simplify benefits improve efficiency effectiveness sen rob portman r ohio said skeptical idea lower pretax deferrals retirement savings mr portman said thursday didnt want make decision revenue reasons im deeply concerned said dont think want disincentivize retirement savings way right statement senate minority leader chuck schumer ny criticized idea capping pretax contributions retirement savings accounts republicans determined cut taxes wealthy theyre willing tax retirement accounts millions middleclass americans said gops total devotion millionaires billionaires comes expense every family using 401k save decent retirement americans saved 75 trillion 401ktype accounts plus 84 trillion individual retirement accounts according investment company institute trade group mutual funds researchers say significant percentage americans havent saved enough maintain standard living retirement industry groups incentive keep status quo trying preserve tax benefits current system year aarp joined groups representing employers asset managers including fidelity investments rowe price group inc tiaa form save savings coalition lobby existing tax treatment retirement plans asset managers tend like roth approach says shai akabas director economic policy bipartisan policy center washington studying potential impact saving rates roth switch taxes taken beginning said assets retirement accounts fees companies collect likely lower write anne tergesen annetergesenwsjcom richard rubin richardrubinwsjcom end dow jones newswires october 20 2017 1812 et 2212 gmt | 1,204 |
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<p>Shares of mid-cap biotech Alkermes (NASDAQ: ALKS) finished 2016 with a loss of 30%. And that was the good news for investors. At one point, the stock had lost two-thirds of its value after two phase 3 trials failed. But while the market focuses on the prospects of one particular pipeline drug, other big opportunities are about to come into focus in 2017.</p>
<p>Continue Reading Below</p>
<p>Source: Pixabay</p>
<p>Alkermes has historically taken a conservative approach to drug development. The company specializes in drug delivery -- specifically, taking proven, approved drugs and creating long-lasting versions of them. In the early years of the company's history, it worked with the companies that developed the original versions of drugs and licensed the delivery technology to them. This has created a steady, albeit small, stream of licensing fees to the company.</p>
<p>A few years ago, the company pivoted to creating its own pipeline of original drugs for diseases of the central nervous system, again leveraging proven therapies -- and last year illustrated the potential setbacks in this approach. Two phase 3 trials of ALKS 5461, a drug that had held much promise for treating cases of Major Depression Disorder (MDD) that do not respond to existing medications, failed to meet their endpoints. The market basically wrote off the drug as a failure, and management's commentary didn't seem to discourage that view. The stock crashed 44% in a single day.</p>
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<p>Then, Alkermes management surprised the market with a reversal in October, revealing that a third phase 3 trial of 5461 had successfully met endpoints and providing a plausible case for the how the earlier trials actually demonstrated efficacy after all. The company said it will proceed with filing a new drug application with the FDA with a fast track designation, and the stock has recovered about half of what it lost in the debacle.</p>
<p>Alkermes' approach of focusing on proven pharmacology has already resulted in two drugs on the market that are still in the early stages of rapid growth. Vivitrol, a once-monthly injection to treat alcohol and opioid dependence, has been on the market for years, and sales are finally taking off. They came in at $56M in the most recent quarter, having grown 47% year over year. The company had to work for years to get the proper market ecosystem in place for success, as these addictions are often treated within the legal system rather than by traditional doctors.</p>
<p>Alkermes is optimistic that Vivitrol sales are on the path toward billion-dollar blockbuster status. The company has theproduction capacity to support sales of $700 million to 800 million by 2018 and has recently started building additional capacity to support higher sales in 2019-2020. Growing public awareness of the opioid addiction epidemic is a strong tailwind for this drug's sales.</p>
<p>A second approved drug, Aristada, is an extended-release injectable for schizophrenia with doses for treatments at monthly and six-week intervals. Soon, a version will be released that can be given every two months. The long intervals between doses are particularly important for treating schizophrenia patients who have difficulty maintaining a pill regimen. The long-acting injectable market for antipsychotic drugs is growing at over 20% and is expected to reach between $3 billion and $6 billion by 2020. Aristada is still early in its life, but it's expected to exceed $500 million in annual sales by 2020.</p>
<p>Continued growth of these two drugs would be a major boost for a company that did $695 million in sales in the last 12 months. But, that's not all shareholders have to look forward to: Other drugs with blockbuster potential are in phase 3 testing. ALKS 3831 is an improvement on the third-most-prescribed schizophrenia drug olanzapine, greatly reducing the side effect of severe weight gain. Data readouts are expected in late 2017 and mid-2018.</p>
<p>ALKS 8700 is a <a href="https://www.fool.com/knowledge-center/what-is-a-biosimilar.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">biosimilar Opens a New Window.</a> of existing Biogen multiple sclerosis drug Tecfidera that Alkermes believes will have fewer GI side effects. Tecfidera is a $4 billion dollar drug with annual patient growth of 9%, so the target market is big. The new drug application to the FDA is expected in 2018.</p>
<p>While the market is uncertain about ALKS 5461, management is confident, and success with this one candidate could return the stock to its earlier high, which is 30% above today's price. One study failed because it looked only at one point in time for results, whereas when results over multiple time periods are considered, the drug showed clear efficacy. The other failure was due to an abnormally high response to the placebo. In the words of CEO Richard Pops, "I don't think there is a single anti-depression medication that has not failed one or more clinical trials due to high placebo response. That comes with the turf in developing these medicines."</p>
<p>In fairness, the stock will plunge again if the FDA rejects the application. But the potential upside is tremendous. The drug targets the 63% of MDD patients that don't respond to today's first-line treatments, which equates to over seven million people in the U.S. The next meeting with the FDA is coming this quarter, so we should get more information soon.</p>
<p>The market has focused on developments around ALKS 5461, but long-term investors need to recognize that this drug is only one of five potential billion-dollar drugs in the company's arsenal. Two of those are already shipping and growing rapidly, and two others are in late stages of the pipeline and are based on the well-understood pharmacology of existing drugs.</p>
<p>I think the tendency of the market to over-focus on recent bad news is giving long-term, risk-tolerant investors an opportunity with Alkermes. 2017 will be a year when we could hear a stream of good news that rewards the patient investors who stuck with the story.</p>
<p>10 stocks we like better than Alkermes 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=b343cc0b-c8bb-4375-ad91-a312215b0847&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 Alkermes 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 January 4, 2017</p>
<p><a href="http://my.fool.com/profile/TMFSpeyside/info.aspx" type="external">Jim Crumly Opens a New Window.</a> owns shares of Biogen. The Motley Fool owns shares of and recommends Biogen. The Motley Fool recommends Alkermes. 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 | shares midcap biotech alkermes nasdaq alks finished 2016 loss 30 good news investors one point stock lost twothirds value two phase 3 trials failed market focuses prospects one particular pipeline drug big opportunities come focus 2017 continue reading source pixabay alkermes historically taken conservative approach drug development company specializes drug delivery specifically taking proven approved drugs creating longlasting versions early years companys history worked companies developed original versions drugs licensed delivery technology created steady albeit small stream licensing fees company years ago company pivoted creating pipeline original drugs diseases central nervous system leveraging proven therapies last year illustrated potential setbacks approach two phase 3 trials alks 5461 drug held much promise treating cases major depression disorder mdd respond existing medications failed meet endpoints market basically wrote drug failure managements commentary didnt seem discourage view stock crashed 44 single day advertisement alkermes management surprised market reversal october revealing third phase 3 trial 5461 successfully met endpoints providing plausible case earlier trials actually demonstrated efficacy company said proceed filing new drug application fda fast track designation stock recovered half lost debacle alkermes approach focusing proven pharmacology already resulted two drugs market still early stages rapid growth vivitrol oncemonthly injection treat alcohol opioid dependence market years sales finally taking came 56m recent quarter grown 47 year year company work years get proper market ecosystem place success addictions often treated within legal system rather traditional doctors alkermes optimistic vivitrol sales path toward billiondollar blockbuster status company theproduction capacity support sales 700 million 800 million 2018 recently started building additional capacity support higher sales 20192020 growing public awareness opioid addiction epidemic strong tailwind drugs sales second approved drug aristada extendedrelease injectable schizophrenia doses treatments monthly sixweek intervals soon version released given every two months long intervals doses particularly important treating schizophrenia patients difficulty maintaining pill regimen longacting injectable market antipsychotic drugs growing 20 expected reach 3 billion 6 billion 2020 aristada still early life expected exceed 500 million annual sales 2020 continued growth two drugs would major boost company 695 million sales last 12 months thats shareholders look forward drugs blockbuster potential phase 3 testing alks 3831 improvement thirdmostprescribed schizophrenia drug olanzapine greatly reducing side effect severe weight gain data readouts expected late 2017 mid2018 alks 8700 biosimilar opens new window existing biogen multiple sclerosis drug tecfidera alkermes believes fewer gi side effects tecfidera 4 billion dollar drug annual patient growth 9 target market big new drug application fda expected 2018 market uncertain alks 5461 management confident success one candidate could return stock earlier high 30 todays price one study failed looked one point time results whereas results multiple time periods considered drug showed clear efficacy failure due abnormally high response placebo words ceo richard pops dont think single antidepression medication failed one clinical trials due high placebo response comes turf developing medicines fairness stock plunge fda rejects application potential upside tremendous drug targets 63 mdd patients dont respond todays firstline treatments equates seven million people us next meeting fda coming quarter get information soon market focused developments around alks 5461 longterm investors need recognize drug one five potential billiondollar drugs companys arsenal two already shipping growing rapidly two others late stages pipeline based wellunderstood pharmacology existing drugs think tendency market overfocus recent bad news giving longterm risktolerant investors opportunity alkermes 2017 year could hear stream good news rewards patient investors stuck story 10 stocks like better alkermes 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 alkermes wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns january 4 2017 jim crumly opens new window owns shares biogen motley fool owns shares recommends biogen motley fool recommends alkermes motley fool disclosure policy opens new window | 642 |
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<p>Speculators convinced the euro zone faces fresh instability have zeroed in on Italy's constitutional reform referendum on Sunday, amassing huge bets on a slump in Italian banks and bonds should Prime Minister Matteo Renzi lose the vote.</p>
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<p>Blindsided by skewed bookmakers' odds and equivocal opinion polls, financial markets ended up on the wrong side of Britain's vote to leave the European Union in June and Donald Trump's surprise U.S. election win last month.</p>
<p>Perhaps chastened by their miscalculation of public disaffection in those two pivotal 2016 events, bets against Italian assets appear to show markets now assuming voter rebellions in Italy and everywhere else in Europe.</p>
<p>"There are colossal short positions on Italy from the U.S. and other countries where big investors are based," Raffaele Jerusalmi, the CEO of the Italian stock exchange said this week.</p>
<p>Shorting, or selling a borrowed asset, is a technique traditionally used by hedge funds to bet that the value of an asset will decrease.</p>
<p>Data from the Italian market regulator shows "significant short positions" in Banco Popolare Di Milano and Banca Carige, while the regulator has restricted short-selling in shares of floundering Monte dei Paschi since July. http://reut.rs/2ffiDjP</p>
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<p>Weighed down by banking shares, Italy's main index is the worst performing stock market in the developed world this year, having shed more than 20 percent. http://reut.rs/2ffdUin</p>
<p>Steve Eisman, who made his name and fortune by betting against subprime mortgage securities, as portrayed in the film 'The Big Short', outlined to Reuters his extremely negative views on��Italian bank equities.��</p>
<p>"Nobody is going to invest in the Italian banks unless they trust their balance sheets," said Eisman, adding that Italian lenders have been "very slow" to recapitalize and sell off troubled assets.</p>
<p>"In the Italian system, the banks say (assets) are worth 45-50 cents in the dollar. But the bid price is 20 cents. If they were to mark them down, they would be insolvent."</p>
<p>There is also evidence that investors have taken short positions in Italian government debt on a scale not seen since the euro zone debt crisis of 2011/2012. http://reut.rs/2fLW0lO</p>
<p>A sharp fall in the price of futures contracts , agreements to sell bonds at a specified price at a later date, and a corresponding rise in outstanding contracts called 'open interest' is a tell-tale sign of shorting, say analysts.</p>
<p>The jumping cost of hedging against swings in the euro's value next week also suggests investors are bracing for widespread fallout from Sunday's vote.</p>
<p>NOT CLEAR CUT</p>
<p>But for many money managers, the outcome is far from clear.</p>
<p>For a start, markets are once again chiming with opinion polls that suggest Italians will reject Renzi's reforms, aimed at bringing political stability to a country that has had 28 governments in 50 years. Doomsday scenarios assuming a snap election if he resigns following a 'No' vote may also prove wide of the mark.</p>
<p>Berenberg's chief economist Holger Schmieding sketched out three alternative scenarios to "unlikely" elections: President Sergio Mattarella could re-appoint Renzi, mandate another center-leftist to form a new government, or even try to persuade Silvio Berlusconi's center-right party to join or support a caretaker or technocratic government.</p>
<p>Meanwhile, the European Central Bank has pledged to stem any market fallout by upping its purchases of Italy's debt.</p>
<p>"There's no certainty of what a 'No' vote really means," said Patrick O'Donnell, an investment manager at Aberdeen Asset Management in London.</p>
<p>Analysts polled by Reuters this week foresaw only a modest hit to markets whatever the result of Sunday's vote.</p>
<p>HEDGING BETS</p>
<p>And there have been signs this week that some investors are hedging their bets. Analysts said firm demand at an Italian debt auction showed that some investors were scrambling to cover their short positions in futures markets.</p>
<p>BlackRock, the world's largest asset manager, is among funds staking contrarian bets. One of its top bond managers said he has been scaling up exposure to European banks and financial stocks beaten up by worries over Italy's referendum.</p>
<p>For others, the referendum in Italy may just be a medium through which to game an even more extreme scenario -- the break-up of the euro zone. That risk is increasing with a rise in euroskepticism that threatens more shock election results in France, the Netherlands and Germany next year.</p>
<p>Speculators such as Eclectica's Hugh Hendry have placed money on the widening gulf between bond yields of Italy and Germany -- the two biggest and most liquid debt markets -- to express the view that the 19-country bloc might fracture. That spread is near its widest levels for 2-1/2-years, showing how popular that trade has become.</p>
<p>An investor survey from Frankfurt-based Sentix this week saw a 19.3 percent chance of Italy leaving the bloc in 2017, the highest in four years.</p>
<p>The chance of any country leaving the euro zone stood at 24.1 percent, well below a peak of over 70 percent seen in 2012.</p>
<p>(Additional reporting by Giulio Piovaccari in Milan; Vikram Subhedar, Dhara Ranasinghe and Patrick Graham in London; Balazs Koranyi in Frankfurt; and Jennifer Ablan and Trevor Hunnicutt in New York; Editing by Mike Dolan and Catherine Evans)</p> | true | 0 | speculators convinced euro zone faces fresh instability zeroed italys constitutional reform referendum sunday amassing huge bets slump italian banks bonds prime minister matteo renzi lose vote continue reading blindsided skewed bookmakers odds equivocal opinion polls financial markets ended wrong side britains vote leave european union june donald trumps surprise us election win last month perhaps chastened miscalculation public disaffection two pivotal 2016 events bets italian assets appear show markets assuming voter rebellions italy everywhere else europe colossal short positions italy us countries big investors based raffaele jerusalmi ceo italian stock exchange said week shorting selling borrowed asset technique traditionally used hedge funds bet value asset decrease data italian market regulator shows significant short positions banco popolare di milano banca carige regulator restricted shortselling shares floundering monte dei paschi since july httpreutrs2ffidjp advertisement weighed banking shares italys main index worst performing stock market developed world year shed 20 percent httpreutrs2ffduin steve eisman made name fortune betting subprime mortgage securities portrayed film big short outlined reuters extremely negative views onitalian bank equities nobody going invest italian banks unless trust balance sheets said eisman adding italian lenders slow recapitalize sell troubled assets italian system banks say assets worth 4550 cents dollar bid price 20 cents mark would insolvent also evidence investors taken short positions italian government debt scale seen since euro zone debt crisis 20112012 httpreutrs2flw0lo sharp fall price futures contracts agreements sell bonds specified price later date corresponding rise outstanding contracts called open interest telltale sign shorting say analysts jumping cost hedging swings euros value next week also suggests investors bracing widespread fallout sundays vote clear cut many money managers outcome far clear start markets chiming opinion polls suggest italians reject renzis reforms aimed bringing political stability country 28 governments 50 years doomsday scenarios assuming snap election resigns following vote may also prove wide mark berenbergs chief economist holger schmieding sketched three alternative scenarios unlikely elections president sergio mattarella could reappoint renzi mandate another centerleftist form new government even try persuade silvio berlusconis centerright party join support caretaker technocratic government meanwhile european central bank pledged stem market fallout upping purchases italys debt theres certainty vote really means said patrick odonnell investment manager aberdeen asset management london analysts polled reuters week foresaw modest hit markets whatever result sundays vote hedging bets signs week investors hedging bets analysts said firm demand italian debt auction showed investors scrambling cover short positions futures markets blackrock worlds largest asset manager among funds staking contrarian bets one top bond managers said scaling exposure european banks financial stocks beaten worries italys referendum others referendum italy may medium game even extreme scenario breakup euro zone risk increasing rise euroskepticism threatens shock election results france netherlands germany next year speculators eclecticas hugh hendry placed money widening gulf bond yields italy germany two biggest liquid debt markets express view 19country bloc might fracture spread near widest levels 212years showing popular trade become investor survey frankfurtbased sentix week saw 193 percent chance italy leaving bloc 2017 highest four years chance country leaving euro zone stood 241 percent well peak 70 percent seen 2012 additional reporting giulio piovaccari milan vikram subhedar dhara ranasinghe patrick graham london balazs koranyi frankfurt jennifer ablan trevor hunnicutt new york editing mike dolan catherine evans | 536 |
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<p>If you're among the millions of American workers worrying that retirement may fail to live up to your expectations, you're not alone.A new study by Transamerica shows that American workers are wrestling with fearsinvolving financial security and health in retirement. If you have similar worries to the respondents to this survey,here are some ways to overcome them.</p>
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<p>IMAGE SOURCE: GETTY IMAGES.</p>
<p>Transamerica's 17th Annual Retirement Survey finds that 51% of American workers are nervous that their nest egg isn't going to cut it in retirement.Unfortunately, retirement savings statistics indicate that they're right to be nervous.</p>
<p>In April, PWC's Employee Financials Wellness Survey reported that 47% of American workers have less than $50,000 in retirement savings, and that roughly half of baby boomers, who are fast approaching retirement, have retirement savings of less than $100,000.</p>
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<p>Given that the common financial wisdom is that retirees withdraw no more than 4% of their savings per year in retirement, those savings aren't likely to do much heavy lifting, when it comes to retirement expenses.</p>
<p>While you may be behind in saving for retirement, making even small changes today can have a big, positive impact on your nest egg. On average, Americans contribute only 8% of their income to workplace 401(k) or 403(b) plans, and that means most participants aren't anywhere near contributing the maximum allowed to these plans.</p>
<p>In 2017, 401(k) or 403(b) participants can contribute $18,000 plus an additional $6,000 if they're over 50 years old. If you're not maxing out your contributions, the best move you can make right now is to bump up your contribution rate. Even if you can't contribute the maximum allowed, an extra 1% or 2% per year can still add up.</p>
<p>Almost as many workers -- 47% to be exact -- worry that changes to Social Security to bolster its finances couldresult in changes to the program that jeopardize its role as retirees' financial safety net.</p>
<p>Typically, Social Security replaces approximately 40% of a worker's pre-retirement income, and according to the Social Security Administration, nearly half of single seniors count on it for at least 90% of their income.</p>
<p>Clearly, Social Security is critically important, but it's running out of money.According to Social Security's trustees, the program's outlays are outstripping payroll tax revenue, forcing them to tap Social Security's trust fund. That fund is expected to run dry in 2034, and without legislative changes, recipients could face an across the board 25% cut in benefits.</p>
<p>Undeniably, that's a scary proposition, but solutions that willshore up Social Security's future may be coming. Proposals, such as increasing retirement ages and payroll tax rates, aren't being voted on right now, but a growing population of voting baby boomers has me thinking that Social Security will be protected, not gutted. Even so, the best way to reduce the fear of Social Security's failure is to plan for it, and that means saving more and spending less so that you don't have to rely on it.</p>
<p>Long-term care is <a href="http://www.fool.com/investing/general/2016/05/21/your-2016-guide-to-long-term-care-and-long-term-ca.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">incredibly expensive Opens a New Window.</a> and it's uncovered by private insurance and Medicare, so workers are right to be concerned. In Transamerica's survey, 45% of people listed long-term care as a retirement fear.</p>
<p>Americans are living longer than ever before, and that means they're increasingly suffering illness or injury that limits their independence. More than two out of every three Americans turning 65 this year will require long-term care at some point in their lifetime, reports the Department of Health and Human Services.</p>
<p>The financial toll of that care could be staggering. Genworth's annual cost of care survey finds that the average cost of assisted living is $3,628 per month currently, and that the average cost of nursing home care is $6,844 per month, for a semi-private room.</p>
<p>If you've got health concerns or family health history that suggests you might end up needing long-term care, or you simply want protection against the risk of needing it, now could be a good time to consider long-term care insurance. Long-term care insurance is cheaper if you buy it in your 50s, rather than your 60s, so investigate long-term care insurance benefits sooner rather than later to find out if it's right for you.</p>
<p>Cognitive decline is major cause for needing long-term care, so it's not too surprising that 35% of workers are worried about it.</p>
<p>Alzheimer's disease is increasingly common, and the number of cases is expected to rise substantially over the coming decades. Today, 5.4 million Americans live with Alzheimer's disease, but that number is expected to climb to 7.1 million by 2025 and to 13.8 million people by 2050.</p>
<p>In addition to the patient losing their independence, Alzheimer's disease is a big burden on loved ones. In 2015, an estimated 18.1 billion unpaid hours were spent by families and friends caring for people with Alzheimer's disease, according to the Alzheimer's Association. Also, the cost of healthcare, long-term care, and hospice care for Alzheimer's disease patients is an estimated $236 billion per year.</p>
<p>While you may not be able to prevent cognitive decline, you can have open and honest discussions about it with your family. Explaining your concerns and establishing plans ahead of time can ease worries. Long-term care insurance may provide additional peace of mind. Donating to organizations researching cognitive disease or helping patients in need might, too.</p>
<p>IMAGE SOURCE: GETTY IMAGES.</p>
<p>Medicare provides financial support to seniors requiring healthcare, but Medicare only goes so far, and uncovered Medicare costs can be high. That's probably why 32% of Transamerica respondents list it as a big retirement fear.</p>
<p>Medicare Part A covers hospitalization costs but only after a deductible is met and only for a certain period of time. After the clock runs out, Medicare coverage phases out, and since there's no limit on patients' out-of-pocket spending, an extended hospital stay can wipe out a lifetime of savings. Similarly,Medicare part B helps with every-day healthcare expenses, like lab tests and doctor visits, but patients pay monthly premiums, 20% co-insurance, and, like part A, there's no out-of-pocket maximum for part B, so expenses can mount quickly.</p>
<p>Since there are gaps in part A and B coverage, consider alternative insurance that can be more comprehensive. Medicare Advantage plans, for example, provide part A and part B coverage, and they typically include drug coverage too. If you're happy with Parts A and part B coverage, a Medigap plan that picks up where Medicare leaves off, may be your best bet to a worry-free retirement.</p>
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retirement savings arent likely much heavy lifting comes retirement expenses may behind saving retirement making even small changes today big positive impact nest egg average americans contribute 8 income workplace 401k 403b plans means participants arent anywhere near contributing maximum allowed plans 2017 401k 403b participants contribute 18000 plus additional 6000 theyre 50 years old youre maxing contributions best move make right bump contribution rate even cant contribute maximum allowed extra 1 2 per year still add almost many workers 47 exact worry changes social security bolster finances couldresult changes program jeopardize role retirees financial safety net typically social security replaces approximately 40 workers preretirement income according social security administration nearly half single seniors count least 90 income clearly social security critically important running moneyaccording social securitys trustees programs outlays outstripping payroll tax revenue forcing tap social securitys trust fund fund expected run dry 2034 without legislative changes recipients could face across board 25 cut benefits undeniably thats scary proposition solutions willshore social securitys future may coming proposals increasing retirement ages payroll tax rates arent voted right growing population voting baby boomers thinking social security protected gutted even best way reduce fear social securitys failure plan means saving spending less dont rely longterm care incredibly expensive opens new window uncovered private insurance medicare workers right concerned transamericas survey 45 people listed longterm care retirement fear americans living longer ever means theyre increasingly suffering illness injury limits independence two every three americans turning 65 year require longterm care point lifetime reports department health human services financial toll care could staggering genworths annual cost care survey finds average cost assisted living 3628 per month 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<p><a href="//videos/37/68018" type="external" /></p>
<p>RUSH: <a href="" type="internal">I’m gonna remind people about the new book.</a> That’s another thing I was not gonna lead with because I don’t want to make the program about me, except when these neophytes on TV are misquoting me and getting me wrong. We’re the number one book on Amazon, <a href="http://www.amazon.com/Rush-Revere-Star-Spangled-Banner-Limbaugh/dp/1476789886/ref=sr_1_1?ie=UTF8&amp;qid=1443539751&amp;sr=8-1&amp;keywords=rush+revere+and+the+star+spangled+banner" type="external">Rush Revere and the Star-Spangled Banne</a>r. Folks, I don’t know how to tell you people how much gratitude we have for you. I just don’t know anymore. Twenty-seven years and I still get goose bumps when I see the evidence of all of you out there. I don’t know. I have such a profound sense of gratitude and appreciation.</p>
<p><a href="http://www.amazon.com/Rush-Revere-Star-Spangled-Banner-Limbaugh/dp/1476789886/ref=sr_1_1?ie=UTF8&amp;qid=1443539751&amp;sr=8-1&amp;keywords=rush+revere+and+the+star+spangled+banner" type="external" /></p>
<p>A children’s book, targeted ages 10 to 13, is number one on Amazon after one mention yesterday. Everybody on the Rush Revere team is just blown away by it. So, yeah, I was gonna talk about it later. Snerdley bashed me here and forced me into talking about it now. (interruption) You didn’t know it was number one? You just wanted me to mention it again.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: So yesterday I announced pre-orders for the fourth <a href="http://www.rushrevere.com/index.php" type="external">Rush Revere Time-Travel Adventures with Exceptional Americans series</a>, book four in the series is <a href="http://www.amazon.com/Rush-Revere-Star-Spangled-Banner-Limbaugh/dp/1476789886/ref=sr_1_1?ie=UTF8&amp;qid=1443539751&amp;sr=8-1&amp;keywords=rush+revere+and+the+star+spangled+banner" type="external">Rush Revere and the Star-Spangled Banner</a>. And after that one mention yesterday, it was the second hour yesterday, so 25 hours after one mention, this book shows up at number one on Amazon, a children’s book targeted to ages 10 to 13, but we have found that children even younger than that love and absorb these books.</p>
<p>We’ve even heard from adults who tell us that they’re learning things in these books that they didn’t learn when they were in school themselves. And all of it is overwhelmingly meaningful and heartwarming. These books have so far exceeded our expectations, and I don’t mean to undersell that, but children’s book series, you don’t know how that’s gonna go. The reason for it is heartfelt and simple. I love this country. I just love it. I believe that this country’s a miracle, and I’m fascinated by how it happened. I’m fascinated by how unique this country is.</p>
<p>The history of humanity in the world is one of bondage, slavery, poverty, tyranny. The phrase “American exceptionalism” to me actually refers to how exceptional a country we are in terms of the way people have lived on this planet. First country in the history of mankind that was founded under the premise that the individual human being is supreme, not a government, not a king, not a dictatorship, but the individual human being in his natural existence as created by God, yearning for freedom and liberty and seeking happiness, is the basis on which this country was founded.</p>
<p><a href="http://www.amazon.com/Rush-Revere-Star-Spangled-Banner-Limbaugh/dp/1476789886/ref=sr_1_1?ie=UTF8&amp;qid=1443539751&amp;sr=8-1&amp;keywords=rush+revere+and+the+star+spangled+banner" type="external" />The Constitution was written that limits the government, that limits the ability of leaders to impede this freedom and liberty and pursuit of happiness. It’s never happened before, and I think it’s a miracle that it did. I was taught some of it when I was in school. Not nearly all of it, but I was taught a generally positive story of the founding of this country. But that’s not been the case for the last couple of generations. It’s totally turned upside down, what young people are taught about this country. This country’s portrayed as illegitimate and unjust and biased and discriminatory, unfair, immoral. And that just won’t do.</p>
<p>People need to love this country and appreciate it and understand how special it is and understand the inherent goodness of this country because of the inherent goodness of human beings. It is the inherent goodness of human beings that our founders recognized would be the basis for the greatness of our country, and sustainability of it. Not the greatness of governments or the greatness of bureaucracies, but the greatness of the individual human being. Human beings have the capacity for compassion, for greatness, for caring, sensitivity, all of these things. And the fewer obstacles in their way, the better they and everybody will do. That’s the basis on which this country was founded.</p>
<p>It’s not taught nearly as much. So these books are an attempt to tell the truth, the glorious truth about the history of the United States, and particularly its early days and its founding. And it’s just exceeded our expectations. We’re now up to book four, <a href="http://www.amazon.com/Rush-Revere-Star-Spangled-Banner-Limbaugh/dp/1476789886/ref=sr_1_1?ie=UTF8&amp;qid=1443539751&amp;sr=8-1&amp;keywords=rush+revere+and+the+star+spangled+banner" type="external">Rush Revere and the Star-Spangled Banner</a>. Rush Revere is me dressed up as Paul Revere. He’s a little oddball, but he’s a substitute history teacher. And his best friend is a horse that happened to be struck by lightning when he was a young colt, and that lightning bolt enabled him to talk and time travel anywhere in American history. So Rush Revere is able to take his substitute students, a few of them, time traveling back to anywhere he wants to take them in American history. And that’s what these books are.</p>
<p>This one we focus on a lot, the Star-Spangled Banner, Francis Scott Key, how the Star-Spangled Banner came to be the national anthem, what happened. The students are taken right back to Fort McHenry, where it all happened. And, again, I could tell you the whole book here, I don’t want to do that, I don’t want to give it away. But we’re all so excited about it, so proud of it. We also time travel back to Philadelphia for the actual writing of some of the nation’s founding documents. We combine the time travel with current times, real events in the lives of these students involving their parents and grandparents and their friends. And each one is a craft, essentially, each book is crafted, as opposed to written.</p>
<p>There are a lot of people that put these together in terms of researching the history to get it right, the illustrations, the fair-use photos that we can use. There are so many people that help us out here and it’s a great team effort. It’s a fun team to be on. So we’ve got the pre-orders that started yesterday. I think the book actually goes on sale on October 27th. But I got up today and I checked my e-mail and there’s a note from Kathryn with a screen grab from Amazon. (laughing) When I went to bed, it was at number seven. I got an e-mail last night — well, not when I went to bed. It was a little earlier than that, it was number seven, and we were thrilled with that. We were excited with that, in one day, with one little mention.</p>
<p>So the whole point here is take the occasion to describe once again what the books are about and why, and the story behind them. But to also thank all of you again for making this happen, ’cause I have never labored under any misconception about why I have been so fortunate with this radio program and the other things that happened because of it, and it’s all because of so many of you. I don’t know, I’ve run out of ways to say thanks other than just to say “thanks” and let you know that we’re all filled with gratitude and fully aware of the role you play in helping make these books a success.</p>
<p>I mean, the e-mails that we get, folks, thousands of people, kids and their parents and grandparents send us e-mails, pictures of the kids reading the books in bed, in their rooms, under the Christmas tree, at school. We try to post some of these at the RushRevere.com website. We have an entire group that deals with audience relations here, which is something we really, really have developed for the Revere side of things. So it makes it all the more fun. And I wanted to, in addition to mentioning the book again, it was just a short little, what was it, 20-minute mention yesterday? (laughing) No, no, short little mention yesterday and you all make it number one. I don’t know. I’m continually humbled and blown away about it at the same time.</p> | true | 0 | rush im gon na remind people new book thats another thing gon na lead dont want make program except neophytes tv misquoting getting wrong number one book amazon rush revere starspangled banner folks dont know tell people much gratitude dont know anymore twentyseven years still get goose bumps see evidence dont know profound sense gratitude appreciation childrens book targeted ages 10 13 number one amazon one mention yesterday everybody rush revere team blown away yeah gon na talk later snerdley bashed forced talking interruption didnt know number one wanted mention break transcript rush yesterday announced preorders fourth rush revere timetravel adventures exceptional americans series book four series rush revere starspangled banner one mention yesterday second hour yesterday 25 hours one mention book shows number one amazon childrens book targeted ages 10 13 found children even younger love absorb books weve even heard adults tell us theyre learning things books didnt learn school overwhelmingly meaningful heartwarming books far exceeded expectations dont mean undersell childrens book series dont know thats gon na go reason heartfelt simple love country love believe countrys miracle im fascinated happened im fascinated unique country history humanity world one bondage slavery poverty tyranny phrase american exceptionalism actually refers exceptional country terms way people lived planet first country history mankind founded premise individual human supreme government king dictatorship individual human natural existence created god yearning freedom liberty seeking happiness basis country founded constitution written limits government limits ability leaders impede freedom liberty pursuit happiness never happened think miracle taught school nearly taught generally positive story founding country thats case last couple generations totally turned upside young people taught country countrys portrayed illegitimate unjust biased discriminatory unfair immoral wont people need love country appreciate understand special understand inherent goodness country inherent goodness human beings inherent goodness human beings founders recognized would basis greatness country sustainability greatness governments greatness bureaucracies greatness individual human human beings capacity compassion greatness caring sensitivity things fewer obstacles way better everybody thats basis country founded taught nearly much books attempt tell truth glorious truth history united states particularly early days founding exceeded expectations book four rush revere starspangled banner rush revere dressed paul revere hes little oddball hes substitute history teacher best friend horse happened struck lightning young colt lightning bolt enabled talk time travel anywhere american history rush revere able take substitute students time traveling back anywhere wants take american history thats books one focus lot starspangled banner francis scott key starspangled banner came national anthem happened students taken right back fort mchenry happened could tell whole book dont want dont want give away excited proud also time travel back philadelphia actual writing nations founding documents combine time travel current times real events lives students involving parents grandparents friends one craft essentially book crafted opposed written lot people put together terms researching history get right illustrations fairuse photos use many people help us great team effort fun team weve got preorders started yesterday think book actually goes sale october 27th got today checked email theres note kathryn screen grab amazon laughing went bed number seven got email last night well went bed little earlier number seven thrilled excited one day one little mention whole point take occasion describe books story behind also thank making happen cause never labored misconception fortunate radio program things happened many dont know ive run ways say thanks say thanks let know filled gratitude fully aware role play helping make books success mean emails get folks thousands people kids parents grandparents send us emails pictures kids reading books bed rooms christmas tree school try post rushreverecom website entire group deals audience relations something really really developed revere side things makes fun wanted addition mentioning book short little 20minute mention yesterday laughing short little mention yesterday make number one dont know im continually humbled blown away time | 635 |
<p />
<p>Who doesn't have fond memories of watching their favorite Disney (NYSE: DIS) movies while growing up, or playing with the newest Barbie doll or Hot Wheels car during the summer downtimes? The emotional connection that we form with these brands is powerful; that's why investing in the industry can be so lucrative.</p>
<p>Continue Reading Below</p>
<p>Today, we'll have two well-known names from children's entertainment facing off against one another. In one corner, there's the 800-pound gorilla: Disney. In the other corner, we have the parent company to the aforementioned brands, as well as American Girl dolls and Polly Pocket: Mattel (NASDAQ: MAT).</p>
<p>Image source: Getty Images.</p>
<p>While it's impossible to say with 100% certainty which of these stocks will perform better over the next five years, there are three different ways we can approach the situation. Hopefully by doing so, it will be clear which is the better buy at today's prices.</p>
<p>Advertisement</p>
<p>When it comes to my own investing experience, no factor has been more influential in my overall returns than the sustainable competitive advantages of the underlying companies that I invest in. While profits, cash flow, dividends, and valuation are all important, this has been the lynch pin. Often referred to as a "moat," this represents the special something that makes a company unique -- keeping customers coming back year after year, while the competition is held at bay.</p>
<p>Both of these companies benefit primarily from the strength of their brands.</p>
<p>Disney has a host of divisions within the company: its parks (Disney World, Disney Land, etc.), studio ventures (movies like Star Wars or Zootopia), networks (ABC, The Disney Channel, ESPN), and consumer products (toys). It also has some of the most timeless characters known to the world: Mickey Mouse, Star Wars, The Lion King, Cinderella, Nemo, and many more that I don't have space to list here.</p>
<p>Mattel also benefits from brand strength -- namely in the company's marquee line of Barbie dolls, but also in Hot Wheels, Polly Pocket, and American Girl. There's one huge difference: Disney has remained on the cutting edge of these brands, continually introducing new and popular brands via its studio segment, and it controls large swaths of its distribution. Mattel's brands haven't aged nearly as well, and don't hold the same sway over today's youth that it once did.</p>
<p>The winner here is clear.</p>
<p>Winner = Disney</p>
<p>Both of these companies provide dividends, which is an obvious benefit to owning shares. But not all cash that comes in should be devoted to shareholders. It's important for companies to keep a sizable cash stash on hand.</p>
<p>That's because every company -- at one point or another -- will face difficult economic times. Those that enter such periods with lots of cash on hand have options: they can outspend rivals to gain market share, buy back stock on the cheap, and even make acquisitions.</p>
<p>Companies that are debt-heavy are in the opposite boat: forced to cut back on spending and potentially lose long-term market share in an effort just to stay solvent.</p>
<p>Here's how Disney and Mattel stack up in terms of financial fortitude, keeping in mind that Disney is valued at twenty times the size of Mattel.</p>
<p>Data source: Yahoo! Finance.</p>
<p>While both of these companies have decent cash positions, Mattel has far more debt to its name relative to its cash position. Additionally, the company brings in less free cash flow than Disney, relative to its size.</p>
<p>If another economic crisis were to hit, both of these companies would be hurting, but I think it's fair to say that Mattel is more economically fragile.</p>
<p>Winner = Disney</p>
<p>Finally, we have valuation. While this isn't an exact science, there are some straightforward metrics we can consult to give us an idea of how expensive each stock is.</p>
<p>Data source: Yahoo! Finance, E*Trade. P/E represents figures from non-GAAP earnings. Disney's dividend for the most recent quarter was not included in free cash flow statements because its timing pushed it into Q1 of 2017. It was assumed to be included in Q4 for this chart's purposes.</p>
<p>In this category, it's much more difficult to declare a winner. Mattel is cheaper on most metrics, notably trading at a 45% discount to Disney when considering the potential for future growth (PEG Ratio). It also offers a very tempting 6% dividend yield.</p>
<p>But that payout isn't so safe: the company had to use 156% of its free cash flow to pay its dividend. That is not a recipe for sustainability. Taking that into consideration, and factoring in that Disney is only marginally more expensive on a P/E and P/FCF basis, I'm calling this one a tie.</p>
<p>Winner = Tie</p>
<p>So there you have it, Disney is pretty clearly the better buy at today's prices. That's not too surprising, given the strength of the company's brands, the popularity of its parks, and the potential for growth continually provided by the company's studio division.</p>
<p>10 stocks we like better than Walt DisneyWhen 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=c3698682-30e2-4aad-8fe7-ac45c6d3cd0e&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 Walt Disney 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=c3698682-30e2-4aad-8fe7-ac45c6d3cd0e&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/TMFCheesehead/info.aspx" type="external">Brian Stoffel Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. 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 | doesnt fond memories watching favorite disney nyse dis movies growing playing newest barbie doll hot wheels car summer downtimes emotional connection form brands powerful thats investing industry lucrative continue reading today well two wellknown names childrens entertainment facing one another one corner theres 800pound gorilla disney corner parent company aforementioned brands well american girl dolls polly pocket mattel nasdaq mat image source getty images impossible say 100 certainty stocks perform better next five years three different ways approach situation hopefully clear better buy todays prices advertisement comes investing experience factor influential overall returns sustainable competitive advantages underlying companies invest profits cash flow dividends valuation important lynch pin often referred moat represents special something makes company unique keeping customers coming back year year competition held bay companies benefit primarily strength brands disney host divisions within company parks disney world disney land etc studio ventures movies like star wars zootopia networks abc disney channel espn consumer products toys also timeless characters known world mickey mouse star wars lion king cinderella nemo many dont space list mattel also benefits brand strength namely companys marquee line barbie dolls also hot wheels polly pocket american girl theres one huge difference disney remained cutting edge brands continually introducing new popular brands via studio segment controls large swaths distribution mattels brands havent aged nearly well dont hold sway todays youth winner clear winner disney companies provide dividends obvious benefit owning shares cash comes devoted shareholders important companies keep sizable cash stash hand thats every company one point another face difficult economic times enter periods lots cash hand options outspend rivals gain market share buy back stock cheap even make acquisitions companies debtheavy opposite boat forced cut back spending potentially lose longterm market share effort stay solvent heres disney mattel stack terms financial fortitude keeping mind disney valued twenty times size mattel data source yahoo finance companies decent cash positions mattel far debt name relative cash position additionally company brings less free cash flow disney relative size another economic crisis hit companies would hurting think fair say mattel economically fragile winner disney finally valuation isnt exact science straightforward metrics consult give us idea expensive stock data source yahoo finance etrade pe represents figures nongaap earnings disneys dividend recent quarter included free cash flow statements timing pushed q1 2017 assumed included q4 charts purposes category much difficult declare winner mattel cheaper metrics notably trading 45 discount disney considering potential future growth peg ratio also offers tempting 6 dividend yield payout isnt safe company use 156 free cash flow pay dividend recipe sustainability taking consideration factoring disney marginally expensive pe pfcf basis im calling one tie winner tie disney pretty clearly better buy todays prices thats surprising given strength companys brands popularity parks potential growth continually provided companys studio division 10 stocks like better walt disneywhen 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 walt disney wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 brian stoffel opens new window position stocks mentioned motley fool owns shares recommends walt disney motley fool disclosure policy opens new window | 543 |
<p>There he went again.</p>
<p>Early this morning Donald Trump launched a twitter storm regarding the issue of the Executive Orders regarding visa entry to the U.S. from 6 (originally 7) majority Muslim nations previously identified by the Obama administration as posing unique security risks.</p>
<p>On January 28, 2017, just after the first Executive Order, I addressed much of the nonsense in the media about the substance of the Executive Order,&#160; <a href="" type="internal">Most claims about Trump’s visa Executive Order are false or misleading</a>. Most significantly, it was inaccurate to describe it as a “Muslim ban,” which was the media descriptor of choice.</p>
<p />
<p>After numerous court losses, the Trump administration decided to fold the tent on Executive Order No. 1, and issue a watered-down version intended to mollify judicial hostility rather than taking the case to the Supreme Court. I thought that was a grievous error,&#160; <a href="" type="internal">President Trump must not back down on immigration Executive Order</a>:</p>
<p>I have seen many analyses critical of the 9th Circuit ruling which urge the Trump administration to take a step back, to withdraw the current Executive Order and rewrite it to fit what is acceptable to the 9th Circuit. The Trump administration, according to some reports, is considering doing that.</p>
<p>That would be a grievous mistake.</p>
<p>The Executive Order, as the Trump administration has said it would be enforced (for example, excluding green card holders from its reach), is perfectly lawful and within the President’s power and authority. To accept the 9th Circuit ruling is to accept that the President does not have the powers vested in him by the Constitution and Congress.</p>
<p>This legal dispute no longer is just about the Executive Order. Democrats have made clear that they will fight in court over almost everything the Trump administration does. The 9th Circuit has opened the door to this tactic on an issue that goes to the core of presidential authority.</p>
<p>If the Courts are to designate themselves the functional directors of the Department of Homeland Security, then such mandate must come from the Supreme Court, not the 9th Circuit.</p>
<p>We’re <a href="" type="internal">now at the Supreme Court</a>, on Order No. 2, after patently absurd reliance <a href="" type="internal">by the 4th Circuit</a> on Trump’s campaign statements. It is anticipated that this month the Supreme Court will rule both on Trump’s request to take the case, and his request to reinstate Order No. 2 pending hearing of the case.</p>
<p>Which brings me back to Trump’s tweet storm. He tweeted not only that there was nothing wrong with calling it a “ban,” but also that he regretted abandoning the original order.</p>
<p><a href="https://twitter.com/realDonaldTrump/status/871674214356484096" type="external" /></p>
<p>Whether Trump calls it a “ban” or not is legally meaningless, just as Trump not calling it a ban also would have been legally meaningless. The travel order is what it is. There’s a reality that does not depend on how politicians, media, pundits, or social media users (or even blog commenters!) characterize it.</p>
<p>And the reality is that it’s not a “ban” on travel. The people who are abroad with no legal right to enter the U.S. can travel, just not here. Only if we consider that open borders is a right could controlling our border entry be deemed a travel ban.</p>
<p>So why are people making such a big deal about the use of the term “ban”? Because they are, deliberately in some cases, ignorantly in others, eliding “Muslim Ban” with “Travel Ban.”</p>
<p>That’s what the <a href="https://twitter.com/ACLU/status/871708428728750080" type="external">ACLU did</a>:</p>
<p><a href="https://twitter.com/ACLU/status/871708428728750080" type="external" /></p>
<p>That’s what Chris Cuomo did in this particularly dumb hot take on CNN:</p>
<p />
<p>Northwestern Law Professor Eugene Kontorovich <a href="https://twitter.com/EVKontorovich/status/871739368410624000" type="external">pointed out</a> the distinction Cuomo missed, the legal issue never was whether it was a “ban,” but what type of “ban”:</p>
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<p>Law Professor Josh Blackman, while finding the tweets unwise, also finds the terminology in dispute <a href="http://lawfareblog.com/all-presidents-tweets" type="external">legally irrelevant</a>:</p>
<p>Finally, much ado has been made today about the fact that he called it a “travel ban” and referred to the current version as “watered down.” This is not new language from Trump. The plaintiffs have read his previous reference to the “watered down” order to refer back to his original promise on the campaign trail to ban all Muslims, but for reasons I discuss in Part I of my series on IRAP v. Trump, this is not a plausible construction of his entire remarks from that speech.</p>
<p>That said, Trump’s use of the word “ban” raises questions. During a January 31 press conference, a reporter asked Sean Spicer about the President referring to it as a “ban.” Spicer denied that it was a ban, citing Homeland Security Secretary Kelly’s statement to the contrary. It is remarkable that the President’s own cabinet cannot get on the same page as the President. Why did Trump call it that? “He’s using the words that the media is using,” Spicer replied. The reporter followed up “It’s his words, his tweet.” Spicer replied, “I think that the words that are being used to describe it are derived from what the media is calling this. He has been very clear that it is extreme vetting.” This phrase, “extreme vetting,” is also how Trump described the order in his final tweet this morning.</p>
<p>What does all of this mean for the Supreme Court’s resolution of IRAP v. Trump? Under Kerry v. Din and Kleindienst v. Mandel, the Court’s review for legitimacy and bona fides is limited to the four corners of the policy. If the Justices abide by those precedents, none of these statements will be relevant.</p>
<p>Kontorovich goes as step farther, and argues <a href="https://www.washingtonpost.com/news/volokh-conspiracy/wp/2017/06/05/trumps-travel-tweets-do-not-hurt-the-legal-case-for-his-executive-orders/?utm_medium=twitter&amp;utm_source=dlvr.it&amp;utm_term=.ae190effd2b4" type="external">Trump’s travel tweets do not hurt the legal case for his executive orders</a>:</p>
<p>Trump’s tweets were certainly Trumpian in tone, and the criticism of his own Justice Department for submitting an executive order he signed does not make him look good. But there is nothing in these tweets that should weaken the Solicitor General’s case before the Supreme Court, or that supports the view that the policies were unconstitutional because of an impermissible motive on the president’s part….</p>
<p>Commentators are reacting as if Trump said that the revised version is a “watered down” Muslim ban. He did not. He said it is a watered down version of the first order, which everyone already knew….</p>
<p>Finally, the tweets may actually bolster the government’s legal case (rather than purposefully undermine it, as Jack Goldsmith suggested). The tweets imply that Trump had little or no role in the drafting of the current executive order — the Justice Department is responsible. If we accept that, then any animus that may infect him would not attach to the order of which he is not the author, unless one is to say the administration is generally disabled from carrying out non-permissive immigration policies with respect to a quarter of the world’s nations. And if one does not take his statement that the Justice Department is responsible for the order to mean the most it can mean, how can one read his campaign statements for their maximal, and worst, possible meaning?</p>
<p>So, assuming the Justices focus on the legal issue, which is the president’s authority and the extraordinarily narrow judicial review, Trump’s characterization of the Order as a “ban” should have no impact.</p>
<p>But there’s another point, which is not really a legal point. The Justices certainly are aware of the firestorm kicked off by the tweets. We know that Ruth Bader Ginsburg already has a dim view of Trump’s credibility and style, as I wrote in&#160; <a href="" type="internal">How can Ginsburg participate in Travel Order case after her *campaign* statements about Trump?</a></p>
<p>The tweets appear to be taunting the Supreme Court, as George Conway (Kellyanne’s husband, who at one time was under consideration for Solicitor General) noted:</p>
<p><a href="https://twitter.com/gtconway3d/status/871746245630590980" type="external" /></p>
<p>So no, I don’t think these tweets help Trump. I agree that Trump would be an impossible client to represent for this very reason. But perhaps he understands that this is not just a court fight, it’s a public opinion fight and he already knows how the media and punditry vote. They are not his audience.</p>
<p>On the legal front, the question is whether the Supreme Court Justices will take a personal view of this case, as have lower courts, or understand the enormous implications of the Courts taking on national security and immigration powers reserved for the President.</p>
<p>If the Supreme Court takes a sober view of this situation, Trump’s tweets and characterization of the travel order will have been just another media dust-up. But that’s a big “IF”.</p> | true | 0 | went early morning donald trump launched twitter storm regarding issue executive orders regarding visa entry us 6 originally 7 majority muslim nations previously identified obama administration posing unique security risks january 28 2017 first executive order addressed much nonsense media substance executive order160 claims trumps visa executive order false misleading significantly inaccurate describe muslim ban media descriptor choice numerous court losses trump administration decided fold tent executive order 1 issue watereddown version intended mollify judicial hostility rather taking case supreme court thought grievous error160 president trump must back immigration executive order seen many analyses critical 9th circuit ruling urge trump administration take step back withdraw current executive order rewrite fit acceptable 9th circuit trump administration according reports considering would grievous mistake executive order trump administration said would enforced example excluding green card holders reach perfectly lawful within presidents power authority accept 9th circuit ruling accept president powers vested constitution congress legal dispute longer executive order democrats made clear fight court almost everything trump administration 9th circuit opened door tactic issue goes core presidential authority courts designate functional directors department homeland security mandate must come supreme court 9th circuit supreme court order 2 patently absurd reliance 4th circuit trumps campaign statements anticipated month supreme court rule trumps request take case request reinstate order 2 pending hearing case brings back trumps tweet storm tweeted nothing wrong calling ban also regretted abandoning original order whether trump calls ban legally meaningless trump calling ban also would legally meaningless travel order theres reality depend politicians media pundits social media users even blog commenters characterize reality ban travel people abroad legal right enter us travel consider open borders right could controlling border entry deemed travel ban people making big deal use term ban deliberately cases ignorantly others eliding muslim ban travel ban thats aclu thats chris cuomo particularly dumb hot take cnn northwestern law professor eugene kontorovich pointed distinction cuomo missed legal issue never whether ban type ban law professor josh blackman finding tweets unwise also finds terminology dispute legally irrelevant finally much ado made today fact called travel ban referred current version watered new language trump plaintiffs read previous reference watered order refer back original promise campaign trail ban muslims reasons discuss part series irap v trump plausible construction entire remarks speech said trumps use word ban raises questions january 31 press conference reporter asked sean spicer president referring ban spicer denied ban citing homeland security secretary kellys statement contrary remarkable presidents cabinet get page president trump call hes using words media using spicer replied reporter followed words tweet spicer replied think words used describe derived media calling clear extreme vetting phrase extreme vetting also trump described order final tweet morning mean supreme courts resolution irap v trump kerry v din kleindienst v mandel courts review legitimacy bona fides limited four corners policy justices abide precedents none statements relevant kontorovich goes step farther argues trumps travel tweets hurt legal case executive orders trumps tweets certainly trumpian tone criticism justice department submitting executive order signed make look good nothing tweets weaken solicitor generals case supreme court supports view policies unconstitutional impermissible motive presidents part commentators reacting trump said revised version watered muslim ban said watered version first order everyone already knew finally tweets may actually bolster governments legal case rather purposefully undermine jack goldsmith suggested tweets imply trump little role drafting current executive order justice department responsible accept animus may infect would attach order author unless one say administration generally disabled carrying nonpermissive immigration policies respect quarter worlds nations one take statement justice department responsible order mean mean one read campaign statements maximal worst possible meaning assuming justices focus legal issue presidents authority extraordinarily narrow judicial review trumps characterization order ban impact theres another point really legal point justices certainly aware firestorm kicked tweets know ruth bader ginsburg already dim view trumps credibility style wrote in160 ginsburg participate travel order case campaign statements trump tweets appear taunting supreme court george conway kellyannes husband one time consideration solicitor general noted dont think tweets help trump agree trump would impossible client represent reason perhaps understands court fight public opinion fight already knows media punditry vote audience legal front question whether supreme court justices take personal view case lower courts understand enormous implications courts taking national security immigration powers reserved president supreme court takes sober view situation trumps tweets characterization travel order another media dustup thats big | 728 |
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<p>Mid-cap stocks are always a good investing vehicle to own because of their long-term growth prospects and generally healthier balance sheets than their small-cap counterparts. With this in mind, our Foolish contributors recommend checking out Horizon Pharma plc (NASDAQ: HZNP), Core Laboratories NV (NYSE: CLB), AutoNation (NYSE: AN), and Splunk(NASDAQ: SPLK)this month. Here's why these companies, each with a market cap between $3 billion and $8 billion, are great buys for December.</p>
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<p>Image Source: Getty Images.</p>
<p><a href="http://my.fool.com/profile/TMFGBudwell/info.aspx" type="external">George Budwell Opens a New Window.</a>(Horizon Pharma): Horizon Pharma is attempting to convince the market that it is not cut from the same cloth as other struggling specialty pharma companies. To do so, the company has been methodically shifting its revenue mix toward less controversial orphan drugs, catalyzed, in part, by its acquisition of Raptor Pharmaceutical Corp. last October.</p>
<p>Specifically, Horizon's goal is have around 60% of its total net revenues coming from orphan drugs such as Actimmune by no later than 2020.</p>
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<p>Image source: Horizon Pharma investor presentation.</p>
<p>While the company obviously has some work to do in terms of relying less on hot-button branded drugs such as the pain reliever Duexis for growth, Horizon does seem to be headed in the right direction. Moreover, the company sports a relatively healthy balance sheet at the moment, along with rapidly growing free cash flows, implying that additional acquisitions in the orphan-drug space could be in the works to speed up this process.</p>
<p>All told, Horizon looks like a great buy this December, based on its rock-bottom forward price-to-earnings ratio of 7.9 and management's decision to substantially grow the company's footprint in the orphan-drug market.</p>
<p><a href="http://my.fool.com/profile/TMFDirtyBird/info.aspx" type="external">Tyler Crowe Opens a New Window.</a>(Core Laboratories NV): One of the most important lessons that the oil and gas industry learned during this most recent downturn is that there is a difference between just growing the business through production and generating rates of return on production. That's where Core Laboratories comes in, and it's a position that should make Core Labs stock a great buy in December for the years ahead.</p>
<p>Core Labs specializes in three major services: reservoir description, production enhancement, and reservoir management. All of three of these services are used to show the best places in a reservoir to drill to get the most out of that reservoir, deploy the best fracking strategy to generate the highest production rates over time, and find ways to best manage the decline from that reservoir later in the life cycle. While many producers eschewed these services when oil was $100 a barrel or more, today's oil price means that every dollar spent on production and development needs to count, and Core's services are worth the price.</p>
<p>For investors, this makes for a company that has relatively strong pricing power in an industry that's typically at the mercy of how much producers want to spend on services. Also, Core Labs doesn't require the capital spending that most other oil and gas companies require, which translates to great free cash flow generation and the best returns on capital employed in the business by a wide margin.</p>
<p><a href="http://ycharts.com/companies/CLB/roce" type="external">CLB Return on Capital Employed (TTM)</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a></p>
<p>I'll admit that Core's stock is hard to value using traditional metrics. It's a cyclical business at the bottom of the cycle, so all earnings-based valuations look high. Also, it has bought back stock at a faster pace then retained earnings, so there is technically no equity value. However, Core has ample opportunities in the coming years as the energy market rebounds, and today's stock price makes it look like a compelling investment in December.</p>
<p><a href="http://my.fool.com/profile/Nehams/info.aspx" type="external">Neha Chamaria Opens a New Window.</a> (AutoNation): One mid-cap stock that's caught my attention is AutoNation. The stock fared well last month and has now gained nearly 8% as of this writing, rising ever since the auto retailer revealed a $500 million "brand-extension strategy" along with its third-quarter numbers. My focus is on the program, which includes a network of standalone used-vehicle sales and AutoNation USA stores, the launch of AutoNation-branded parts and accessories, and expansion of standalone collision centers and AutoNation Auto Auctions. It might not be evident, but there appear to be significant margin expansion opportunities in there.</p>
<p>Image source: AutoNation Inc.</p>
<p>The used-car market, for instance, offers substantial growth potential: The National Automobile Dealers Association projects used-car sales to cross 40 million next year. It's a high-margin business, too: The nation's largest used-vehicle retailer, CarMax, has an operating margin of around 7.5%, nearly twice that of AutoNation's. Likewise, parts and service made up only about 16% of AutoNation's revenue for the first nine months of the year but generated a whopping 43% of its gross profits. AutoNation's "brand-extension strategy" is clearly pointing at better margins.</p>
<p>As the largest automotive dealer in the U.S., AutoNation already has a solid footprint in the new-car market. Now that it has set its eyes on other automotive areas, I believe the company should be able to mitigate the risks associated with new-car sales and expand its margins even in adverse conditions going forward. AutoNation stock is still down 23% year to date and looks quite reasonable today at 11 times forward earnings, given the growth catalysts.</p>
<p><a href="http://my.fool.com/profile/TMFSymington/info.aspx" type="external">Steve Symington Opens a New Window.</a>(Splunk): Despite seeing shares of Splunkpop late last month following its <a href="http://www.fool.com/investing/2016/11/30/splunk-keeps-rolling-with-another-strong-quarter.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">eighth straight quarterly beat Opens a New Window.</a>, I still think the operational intelligence software specialist is a compelling buy. Shares are still down around 3% over the past year as of this writing, in part as the fast-growing company had its stock wrongly dragged down along with the broader market earlier this year.</p>
<p>To be fair, some investors might be uncomfortable with the idea that Splunk eschews bottom-line profitability and instead aggressively invests in growing revenue and taking market share in these early stages. Last quarter alone, for example, Splunk incurred a GAAP net loss of $93.5 million, or $0.69 per share.</p>
<p>To Splunk's credit, it is cash-flow positive. Cash from operations and free cash flow came in at $45 million and $32 million, respectively, last quarter. And the company ended the period with no debt and over $1 billion in cash and investments on its balance sheet.</p>
<p>Most importantly, Splunk's strategy is proving effective. Last quarter's revenue jumped more than 40% year over year, to $244.8 million, well above both its guidance and the expectations of Wall Street analysts, as per usual. And Splunk added nearly 500 new customers in the process last quarter alone, including new and expanded relationships with the likes of BMW, Dow Jones, Progressive, Rackspace, and the U.S. Department of Homeland Security.</p>
<p>And if you're feeling charitable around the holidays, Splunk recently <a href="http://www.fool.com/investing/2016/10/06/why-splunk-inc-just-dedicated-100-million-to-phila.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">formed Splunk Pledge Opens a New Window.</a> as part of its Splunk4Good initiative. Through the pledge, Splunk dedicated $100 million over the next 10 years in in software licenses, training, support, education, and volunteerism to "support academic research and generate social impact." I don't know about you, but that's exactly the kind of company I like to see in my portfolio.</p>
<p>Make no mistake: Profits will come. But in the meantime, Splunk is wisely pouring its resources into making sure its products become an integral part of the success of as many customers as possible. As such, I think Splunk's recent gains should amount to a drop in the bucketfor investors who buy now and watch that growth continue to unfold in the coming years.</p>
<p>10 stocks we like better than Core Laboratories 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=40772bf4-9b9b-4b9e-8704-c23dd0b8bc84&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 Core Laboratories 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=40772bf4-9b9b-4b9e-8704-c23dd0b8bc84&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 Nov. 7, 2016</p>
<p><a href="http://my.fool.com/profile/gbudwell/info.aspx" type="external">George Budwell Opens a New Window.</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/Nehams/info.aspx" type="external">Neha Chamaria</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/TMFSymington/info.aspx" type="external">Steve Symington</a> has no position in any stocks mentioned. <a href="http://my.fool.com/profile/TMFDirtyBird/info.aspx" type="external">Tyler Crowe</a> owns shares of Core Laboratories. The Motley Fool owns shares of and recommends CarMax, Core Laboratories, and Splunk. The Motley Fool recommends Progressive. 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 | midcap stocks always good investing vehicle longterm growth prospects generally healthier balance sheets smallcap counterparts mind foolish contributors recommend checking horizon pharma plc nasdaq hznp core laboratories nv nyse clb autonation nyse splunknasdaq splkthis month heres companies market cap 3 billion 8 billion great buys december continue reading image source getty images george budwell opens new windowhorizon pharma horizon pharma attempting convince market cut cloth struggling specialty pharma companies company methodically shifting revenue mix toward less controversial orphan drugs catalyzed part acquisition raptor pharmaceutical corp last october specifically horizons goal around 60 total net revenues coming orphan drugs actimmune later 2020 advertisement image source horizon pharma investor presentation company obviously work terms relying less hotbutton branded drugs pain reliever duexis growth horizon seem headed right direction moreover company sports relatively healthy balance sheet moment along rapidly growing free cash flows implying additional acquisitions orphandrug space could works speed process told horizon looks like great buy december based rockbottom forward pricetoearnings ratio 79 managements decision substantially grow companys footprint orphandrug market tyler crowe opens new windowcore laboratories nv one important lessons oil gas industry learned recent downturn difference growing business production generating rates return production thats core laboratories comes position make core labs stock great buy december years ahead core labs specializes three major services reservoir description production enhancement reservoir management three services used show best places reservoir drill get reservoir deploy best fracking strategy generate highest production rates time find ways best manage decline reservoir later life cycle many producers eschewed services oil 100 barrel todays oil price means every dollar spent production development needs count cores services worth price investors makes company relatively strong pricing power industry thats typically mercy much producers want spend services also core labs doesnt require capital spending oil gas companies require translates great free cash flow generation best returns capital employed business wide margin clb return capital employed ttm data ycharts opens new window ill admit cores stock hard value using traditional metrics cyclical business bottom cycle earningsbased valuations look high also bought back stock faster pace retained earnings technically equity value however core ample opportunities coming years energy market rebounds todays stock price makes look like compelling investment december neha chamaria opens new window autonation one midcap stock thats caught attention autonation stock fared well last month gained nearly 8 writing rising ever since auto retailer revealed 500 million brandextension strategy along thirdquarter numbers focus program includes network standalone usedvehicle sales autonation usa stores launch autonationbranded parts accessories expansion standalone collision centers autonation auto auctions might evident appear significant margin expansion opportunities image source autonation inc usedcar market instance offers substantial growth potential national automobile dealers association projects usedcar sales cross 40 million next year highmargin business nations largest usedvehicle retailer carmax operating margin around 75 nearly twice autonations likewise parts service made 16 autonations revenue first nine months year generated whopping 43 gross profits autonations brandextension strategy clearly pointing better margins largest automotive dealer us autonation already solid footprint newcar market set eyes automotive areas believe company able mitigate risks associated newcar sales expand margins even adverse conditions going forward autonation stock still 23 year date looks quite reasonable today 11 times forward earnings given growth catalysts steve symington opens new windowsplunk despite seeing shares splunkpop late last month following eighth straight quarterly beat opens new window still think operational intelligence software specialist compelling buy shares still around 3 past year writing part fastgrowing company stock wrongly dragged along broader market earlier year fair investors might uncomfortable idea splunk eschews bottomline profitability instead aggressively invests growing revenue taking market share early stages last quarter alone example splunk incurred gaap net loss 935 million 069 per share splunks credit cashflow positive cash operations free cash flow came 45 million 32 million respectively last quarter company ended period debt 1 billion cash investments balance sheet importantly splunks strategy proving effective last quarters revenue jumped 40 year year 2448 million well guidance expectations wall street analysts per usual splunk added nearly 500 new customers process last quarter alone including new expanded relationships likes bmw dow jones progressive rackspace us department homeland security youre feeling charitable around holidays splunk recently formed splunk pledge opens new window part splunk4good initiative pledge splunk dedicated 100 million next 10 years software licenses training support education volunteerism support academic research generate social impact dont know thats exactly kind company like see portfolio make mistake profits come meantime splunk wisely pouring resources making sure products become integral part success many customers possible think splunks recent gains amount drop bucketfor investors buy watch growth continue unfold coming years 10 stocks like better core laboratories 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 core laboratories wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns nov 7 2016 george budwell opens new window position stocks mentioned neha chamaria position stocks mentioned steve symington position stocks mentioned tyler crowe owns shares core laboratories motley fool owns shares recommends carmax core laboratories splunk motley fool recommends progressive 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 | 897 |
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<p>Image source: Getty Images.</p>
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<p>Johnson Controls (NYSE: JCI) is set to report fourth-quarter earnings on Nov. 8.During the earnings presentation, management will surely pay plenty of attention to the merger with Tyco and the spin-off of the automotive-experience business into the new entity,Adient.But there's much more to a company's earnings than just this, so let's look at some things we'll probably hear about when the company reports and how we could interpret them.</p>
<p>Recognizing a significant <a href="http://www.fool.com/investing/2016/06/30/johnson-controls-is-investing-millions-in-agm-batt.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">opportunity Opens a New Window.</a> in the start-stop battery market, management, last quarter, announced that it would be investing approximately $780 million from 2015 through 2020 in absorbent glass mat (AGM) battery manufacturing capacity. Currently, the company retains about 70% market share and is working diligently to maintain its dominant position.</p>
<p>In the third quarter, the company reported that global shipment of AGM batteries grew 22% year over year. Driven by 79% growth in China and 78% growth in the Americas, the company reported a 4% increase in sales in mature markets -- Europe, the Middle East, and Africa.</p>
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<p>According to Alex Molinaroli, the company's CEO, start-stop growth "is the future of our business over the next five years," so investors should be keenly focused on this point in the earnings report. Specifically, they can look to see if management achieves its guidance for AGM sales to increase 22% in fiscal 2016, which it expects to drive growth -- between 9% and 11% for fiscal 2016 -- in the power-solutions segment.</p>
<p>As important as the power-solutions segment is to the company, the building-efficiency segment -- which reported more than twice the revenue of power solutions last quarter -- will surely account for the lion's share of attention.</p>
<p>Having merged with Tyco, Johnson Controls has greatly increased its fire and security solutions. Image source: Johnson Controls corporate website.</p>
<p>Plus, Johnson Controls recently completed its merger with Tyco, resulting in a company that management believes "is uniquely positioned as a leader in products, technologies, and integrated solutions for the buildings and energy sectors." Management plans to include about one month of Tyco's results in the fiscal 2016 consolidated financial statements.</p>
<p>Excluding foreign exchange effects and the joint venture with Hitachi, the segment reported a 4% revenue increase, driven by the Asian market, which reported a 9% increase -- much higher than North America, where systems and service for North America grew only 3%, as did products for North America.</p>
<p>Investors should expect to see continued growth in the segment, driven by China. On the Q2 conference call, Molinaroli reported that the quoting activity is strong in China because of success with its joint venture with Hitachi, as well as "some fairly significant-size orders" in the company's large tonnage business.</p>
<p>A third thing to keep an eye on when the company reports is whether it meets its free cash flow guidance. Identifying a $1.5 billion target for adjusted free cash flow for fiscal 2016 during an investors' conference last December, management has consistently affirmed its guidance throughout the year.</p>
<p>In line with expectations, the company reported $400 million in adjusted free cash flow for Q3. On the conference call, management conceded that it expects several factors will contribute to lower adjusted free cash flow in Q4 compared than in the same period last year. Because of about $200 million in additional capital expenditures and between $50 million and $100 million in cash restructuring costs in the fourth quarter, management anticipates seeing adjusted free cash flow come up short of the $1.4 billion it reported in Q4 last year. Nonetheless, it remains confident that it will achieve its $1.5 billion target.</p>
<p>In merging with Tyco, Johnson Controls recognizes significant growth potential, but investors must remember that Johnson Controls is also taking on about $2 billion of Tyco's debt and $4 billion in new debt associated with the completion of the transaction. This, in addition, to the $7.5 billion of net debt Johnson Controls had at the end of the third quarter, suggests that it's imperative for the company to achieve its free cash flow targets to adequately service its debt.</p>
<p>Excluding the impact of the Tyco merger, the company is guiding for Q4 earnings to fall between $1.17 and $1.20 per diluted share. Management is guiding full-year fiscal 2016 guidance from a range of $3.85 to $4.00 in earnings per diluted share to a new range of $3.95to$3.98. Though these figures are important, there are plenty of other figures to keep a keen eye on -- figures that will provide much more clarity into how the company is performing.</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/scott81236/info.aspx" type="external">Scott Levine Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of Johnson Controls. The Motley Fool is short Johnson Controls. 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 johnson controls nyse jci set report fourthquarter earnings nov 8during earnings presentation management surely pay plenty attention merger tyco spinoff automotiveexperience business new entityadientbut theres much companys earnings lets look things well probably hear company reports could interpret recognizing significant opportunity opens new window startstop battery market management last quarter announced would investing approximately 780 million 2015 2020 absorbent glass mat agm battery manufacturing capacity currently company retains 70 market share working diligently maintain dominant position third quarter company reported global shipment agm batteries grew 22 year year driven 79 growth china 78 growth americas company reported 4 increase sales mature markets europe middle east africa advertisement according alex molinaroli companys ceo startstop growth future business next five years investors keenly focused point earnings report specifically look see management achieves guidance agm sales increase 22 fiscal 2016 expects drive growth 9 11 fiscal 2016 powersolutions segment important powersolutions segment company buildingefficiency segment reported twice revenue power solutions last quarter surely account lions share attention merged tyco johnson controls greatly increased fire security solutions image source johnson controls corporate website plus johnson controls recently completed merger tyco resulting company management believes uniquely positioned leader products technologies integrated solutions buildings energy sectors management plans include one month tycos results fiscal 2016 consolidated financial statements excluding foreign exchange effects joint venture hitachi segment reported 4 revenue increase driven asian market reported 9 increase much higher north america systems service north america grew 3 products north america investors expect see continued growth segment driven china q2 conference call molinaroli reported quoting activity strong china success joint venture hitachi well fairly significantsize orders companys large tonnage business third thing keep eye company reports whether meets free cash flow guidance identifying 15 billion target adjusted free cash flow fiscal 2016 investors conference last december management consistently affirmed guidance throughout year line expectations company reported 400 million adjusted free cash flow q3 conference call management conceded expects several factors contribute lower adjusted free cash flow q4 compared period last year 200 million additional capital expenditures 50 million 100 million cash restructuring costs fourth quarter management anticipates seeing adjusted free cash flow come short 14 billion reported q4 last year nonetheless remains confident achieve 15 billion target merging tyco johnson controls recognizes significant growth potential investors must remember johnson controls also taking 2 billion tycos debt 4 billion new debt associated completion transaction addition 75 billion net debt johnson controls end third quarter suggests imperative company achieve free cash flow targets adequately service debt excluding impact tyco merger company guiding q4 earnings fall 117 120 per diluted share management guiding fullyear fiscal 2016 guidance range 385 400 earnings per diluted share new range 395to398 though figures important plenty figures keep keen eye figures provide much clarity company performing 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 scott levine opens new window position stocks mentioned motley fool owns shares johnson controls motley fool short johnson controls 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 | 561 |
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<p>Some aspects of the immigration debate are almost as complicated and sprawling as the larger issue itself: what to do with the estimated 11 million undocumented workers already living in the U.S., for example.</p>
<p>Continue Reading Below</p>
<p>Other aspects don’t seem quite so difficult.</p>
<p>“The goals of U.S. immigration policy should be rebalanced to give priority to immigrants who have the education and talent to enhance America’s economic vitality, by stimulating innovation, job creation and global competitiveness,” wrote Darrell M. West in a 2011 policy briefing for the Brookings Institution.</p>
<p>West describes this category of immigrants as providing a “brain gain” for the U.S.</p>
<p>West offers a sweeping mandate but one efficiently addressed in a remarkably concise piece of legislation proposed last month by a bipartisan group of four U.S. Senators. The bill, called the Immigration Innovation Act of 2013, would dramatically increase the number of non-U.S. citizens who could legally find work or obtain education in high-tech careers inside the U.S.</p>
<p>It’s practically impossible to find opposition to the goals set forth by the bill.</p>
<p>More Visas and Green Cards for High-Skilled Workers</p>
<p>Broadly, the bill would make it easier for highly skilled immigrants to obtain visas and green cards to stay and work in the U.S. at high-tech jobs. Fees generated by the increased number of work permits would be used to train Americans in the same high-tech jobs.</p>
<p>“If we don’t get this right we’re really at risk of sending these high-tech jobs overseas.”</p>
<p>“I think given all the parties involved it’s an excellent bill that takes some of the biggest problems and fixes them. It addresses some of the things that actually hurt our economy,” said Deborah Notkin, a lawyer and immigration expert with the American Immigration Lawyers Association. “It’s a great starting piece that makes some wise choices so we don’t continue to lose our best and brightest to (other high-tech job markets).”</p>
<p>Specifically, the bill addresses three areas: H-1B visas, green cards and science, technology, engineering and mathematics (STEM) funding for U.S. students.</p>
<p>The bill would increase the limit on H-1B visas to 115,000 from 65,000 and place an eventual cap at 300,000 if necessary. The visas allow foreign workers employed in specialty fields to remain in the U.S. for a period of at least three years and up to six years. The bill would also make it easier for H-1B visa holders to switch jobs and move around the U.S.</p>
<p>The number of employment-based green cards allotted annually would be increased by adding applications not used in previous years and by exempting whole categories of applicants, such as holders of advanced degrees in the STEM fields. Also eliminated would be numerical caps based on country-of-origin.</p>
<p>Sponsors of the bill have predicted that higher fees and increased numbers of approvals for H-1B visas and green cards could generate $300 million a year, a portion of which would be set aside for STEM-related educational grants for U.S. students. Under the bill, the standard fee for an H-1B visa would rise to $2,500 for a company with more than 25 workers. A green card would cost $1,000 for each employee.</p>
<p>Notkin said raising the caps on the number of H-1B visas and green cards was long overdue. “Static caps never work,” she said. “Eventually they’ll come back to haunt you. The economy grows. You don’t know what life is going to look like 10 years from now or 20 years from now.”</p>
<p>Common-Sense Legislation</p>
<p>But while the three primary components of the Immigration Innovation Act are widely viewed as common-sense legislation that would benefit everyone involved – U.S. employers, highly skilled foreign workers and the broader U.S. economy – the proposal is going nowhere unless lawmakers can agree on what to do with the 11 million undocumented workers already in the U.S.</p>
<p>“Republicans and Democrats understand how the business part of immigration is broken,” Notkin explained “But immigration is a very complicated issue and this legislation has to be tied to the 11 million. It can’t be done piecemeal.”</p>
<p>Broader immigration reform will apparently be a top priority of President Obama’s second term and Congress, undoubtedly realizing the huge role the immigrant vote played in Obama’s re-election, have signaled their willingness to negotiate.</p>
<p>A look at some statistics show why politicians may finally be ready for broad immigration reform: According to the U.S. Census Bureau, by 2050 the Hispanic population in the U.S. will increase by 167%; the Asian population by 142%.</p>
<p>Obama’s second term was barely a week old when six Senators – three Democrats and three Republicans – proposed a bipartisan blueprint that would make it easier for the 11 million undocumented workers to become legal while at the same time tightening the U.S. border from illegal immigration.</p>
<p>In Sympathy With Broader Goals</p>
<p>The Immigration Innovation Act is a separate bill from that wider reform proposal but clearly in sympathy with the broader goal of clarifying the immigration issue to the benefit of U.S. businesses and the U.S. economy.</p>
<p>An array of tech companies and organizations were quick to jump out in support of the fine-tuned Immigration Innovation Act, which was sponsored by Sens. Orrin Hatch (R-Utah), Amy Klobuchar (D-Minn.), Marco Rubio (R-Fla.), and Chris Coons (D-Del.).</p>
<p>Silicon Valley icon Hewlett-Packard (NYSE:HPQ), for instance, issued a statement saying in part: “The ‘Immigration Innovation Act,’ or ‘I-Squared,’ is a significant step forward in ensuring that the U.S. economy has the workforce and intellectual capacity it needs to enhance innovation, spur job creation and improve our economy.”</p>
<p>The statement continued: “I-Squared is a common-sense solution that meets the needs of our high-tech economy without harming domestic employment. It also provides needed funding for science, technology, engineering and mathematics (STEM) education programs targeted at helping American residents get the skills companies need to be more innovative and globally competitive.”</p>
<p>Other companies, tech groups and immigration activists issued similar platitudes.</p>
<p>David LeDuc, senior director of public policy at the Software and Information Industry Association (SIAA), a high-tech trade group, praised the bill for making the high-tech element of the immigration debate part of the discussion of broader reform.</p>
<p>“If we don’t get this right we’re really at risk of sending these high-tech jobs overseas,” he said.</p>
<p>Advertisement</p> | true | 0 | aspects immigration debate almost complicated sprawling larger issue estimated 11 million undocumented workers already living us example continue reading aspects dont seem quite difficult goals us immigration policy rebalanced give priority immigrants education talent enhance americas economic vitality stimulating innovation job creation global competitiveness wrote darrell west 2011 policy briefing brookings institution west describes category immigrants providing brain gain us west offers sweeping mandate one efficiently addressed remarkably concise piece legislation proposed last month bipartisan group four us senators bill called immigration innovation act 2013 would dramatically increase number nonus citizens could legally find work obtain education hightech careers inside us practically impossible find opposition goals set forth bill visas green cards highskilled workers broadly bill would make easier highly skilled immigrants obtain visas green cards stay work us hightech jobs fees generated increased number work permits would used train americans hightech jobs dont get right really risk sending hightech jobs overseas think given parties involved excellent bill takes biggest problems fixes addresses things actually hurt economy said deborah notkin lawyer immigration expert american immigration lawyers association great starting piece makes wise choices dont continue lose best brightest hightech job markets specifically bill addresses three areas h1b visas green cards science technology engineering mathematics stem funding us students bill would increase limit h1b visas 115000 65000 place eventual cap 300000 necessary visas allow foreign workers employed specialty fields remain us period least three years six years bill would also make easier h1b visa holders switch jobs move around us number employmentbased green cards allotted annually would increased adding applications used previous years exempting whole categories applicants holders advanced degrees stem fields also eliminated would numerical caps based countryoforigin sponsors bill predicted higher fees increased numbers approvals h1b visas green cards could generate 300 million year portion would set aside stemrelated educational grants us students bill standard fee h1b visa would rise 2500 company 25 workers green card would cost 1000 employee notkin said raising caps number h1b visas green cards long overdue static caps never work said eventually theyll come back haunt economy grows dont know life going look like 10 years 20 years commonsense legislation three primary components immigration innovation act widely viewed commonsense legislation would benefit everyone involved us employers highly skilled foreign workers broader us economy proposal going nowhere unless lawmakers agree 11 million undocumented workers already us republicans democrats understand business part immigration broken notkin explained immigration complicated issue legislation tied 11 million cant done piecemeal broader immigration reform apparently top priority president obamas second term congress undoubtedly realizing huge role immigrant vote played obamas reelection signaled willingness negotiate look statistics show politicians may finally ready broad immigration reform according us census bureau 2050 hispanic population us increase 167 asian population 142 obamas second term barely week old six senators three democrats three republicans proposed bipartisan blueprint would make easier 11 million undocumented workers become legal time tightening us border illegal immigration sympathy broader goals immigration innovation act separate bill wider reform proposal clearly sympathy broader goal clarifying immigration issue benefit us businesses us economy array tech companies organizations quick jump support finetuned immigration innovation act sponsored sens orrin hatch rutah amy klobuchar dminn marco rubio rfla chris coons ddel silicon valley icon hewlettpackard nysehpq instance issued statement saying part immigration innovation act isquared significant step forward ensuring us economy workforce intellectual capacity needs enhance innovation spur job creation improve economy statement continued isquared commonsense solution meets needs hightech economy without harming domestic employment also provides needed funding science technology engineering mathematics stem education programs targeted helping american residents get skills companies need innovative globally competitive companies tech groups immigration activists issued similar platitudes david leduc senior director public policy software information industry association siaa hightech trade group praised bill making hightech element immigration debate part discussion broader reform dont get right really risk sending hightech jobs overseas said advertisement | 644 |
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<p>Silver and gold streaming company Silver Wheaton Corp (NYSE: SLW)is playing out a game plan that has a history of success behind it, while aluminum giant Alcoa Corp (NYSE: AA)is really something of a new company despite the well-known name brand. If you are comparing these two metals and mining companies, you should stick with Silver Wheaton.</p>
<p>Continue Reading Below</p>
<p>Let's take a closer look at why Silver Wheaton is the better buy -- at least right now.</p>
<p>You've probably heard the name Alcoa before; it's an iconic company with a history that dates back to the late 1800s. But don't get too caught up in the past -- the Alcoa we know today is something of a baby with a history that dates back to the fourth quarter of 2016. That's when Alcoa and specialty parts maker Arconicsplit in two.</p>
<p>Image source: Alcoa Corp.</p>
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<p>The lead-up to the separation of these two entities included a painful downturn in the commodity industry. During that period, Alcoa started to invest heavily in its parts business while focusing on trimming costs and closing operations in the metals business. In November of 2016, the CEO who orchestrated that business plan left to head up Arconic. And now Alcoa has to fly on its own.</p>
<p>The problem is that Alcoa is still working itself into fighting shape in an industry that's only just starting to get back on its feet. For example, in the fourth quarter -- its first as a stand-alone company -- Alcoa lost $0.68 a share because of one-time items. Notably, that included the closure of another plant and the write-off of natural gas assets in Australia. Although these were important decisions that further the company's efforts to right-size itself for today's aluminum market, the moves cost roughly $151 million.</p>
<p>The bigger takeaway, though, is that the company isn't done transforming itself just yet. That introduces a level of execution risk that you may not be willing to take on.</p>
<p>Silver Wheaton, on the other hand, is just doing what it has always done. It doesn't have a history that dates back over 100 years, but at this point, it's hard to suggest that today's Alcoa does either. And Silver Wheaton's story is really quite unique in the metals and mining industry.</p>
<p>Silver Wheaton is what's known as a streaming company. That means it gives miners upfront cash payments for the right to buy silver and gold at reduced prices in the future. It pays roughly $4 an ounce for silver and $400 an ounce for gold -- well below what those metals fetch on the spot market today.</p>
<p>Silver Wheaton's unique business model in two pictures. Image source: Silver Wheaton Corp.</p>
<p>What's even more interesting, the commodity downturn that hit Alcoa so hard was actually a great opportunity for Silver Wheaton, because miners were reeling and desperate for cash, which Silver Wheaton was happy to provide. For example, it provided financially strapped mining giants Vale SA and Glencore with a combined $1.8 billion in 2015.</p>
<p>Not surprisingly, the company's silver production increased 33% year over year in the third quarter of 2016, and gold production increased 48% to hit a new company record. These impressive results, coupled with a recovering precious metals market, led to a 62% increase in operating cash flow and a 20% dividend hike. All good news.</p>
<p>However, Silver Wheaton isn't a risk-free investment. And right now, the biggest risk is that Canada says the company is calculating its taxes incorrectly. That could result in a big one-time tax bill and an ongoing reduction in the company's profitability due to higher taxes. But it doesn't change Silver Wheaton's basic business model, just the costs associated with its streaming business. And then only if Silver Wheaton loses, which it doesn't think will happen.</p>
<p>Alcoa is an iconic name in the aluminum industry with more than 100 years of history behind it. However, because of the late-2016 breakup of the company, it's kind of starting fresh. There's a huge amount of opportunity, but also a huge amount of uncertainty as to what the outlook is from here.</p>
<p>Silver Wheaton, meanwhile, continues to execute the same business plan it always has. And while it has risks of its own to deal with -- most notably the tax row with Canada -- the forecast here is far more clear. Right now, investors looking for a toehold in the metals and mining industry should put Silver Wheaton ahead of Alcoa on their buy lists.</p>
<p>10 stocks we like better than Silver WheatonWhen 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=e58649a0-c3cb-4e94-8f15-675eda597a97&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 Silver Wheaton wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
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<p><a href="http://my.fool.com/profile/ReubenGBrewer/info.aspx" type="external">Reuben Brewer Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of Companhia Vale and Silver Wheaton. 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 | silver gold streaming company silver wheaton corp nyse slwis playing game plan history success behind aluminum giant alcoa corp nyse aais really something new company despite wellknown name brand comparing two metals mining companies stick silver wheaton continue reading lets take closer look silver wheaton better buy least right youve probably heard name alcoa iconic company history dates back late 1800s dont get caught past alcoa know today something baby history dates back fourth quarter 2016 thats alcoa specialty parts maker arconicsplit two image source alcoa corp advertisement leadup separation two entities included painful downturn commodity industry period alcoa started invest heavily parts business focusing trimming costs closing operations metals business november 2016 ceo orchestrated business plan left head arconic alcoa fly problem alcoa still working fighting shape industry thats starting get back feet example fourth quarter first standalone company alcoa lost 068 share onetime items notably included closure another plant writeoff natural gas assets australia although important decisions companys efforts rightsize todays aluminum market moves cost roughly 151 million bigger takeaway though company isnt done transforming yet introduces level execution risk may willing take silver wheaton hand always done doesnt history dates back 100 years point hard suggest todays alcoa either silver wheatons story really quite unique metals mining industry silver wheaton whats known streaming company means gives miners upfront cash payments right buy silver gold reduced prices future pays roughly 4 ounce silver 400 ounce gold well metals fetch spot market today silver wheatons unique business model two pictures image source silver wheaton corp whats even interesting commodity downturn hit alcoa hard actually great opportunity silver wheaton miners reeling desperate cash silver wheaton happy provide example provided financially strapped mining giants vale sa glencore combined 18 billion 2015 surprisingly companys silver production increased 33 year year third quarter 2016 gold production increased 48 hit new company record impressive results coupled recovering precious metals market led 62 increase operating cash flow 20 dividend hike good news however silver wheaton isnt riskfree investment right biggest risk canada says company calculating taxes incorrectly could result big onetime tax bill ongoing reduction companys profitability due higher taxes doesnt change silver wheatons basic business model costs associated streaming business silver wheaton loses doesnt think happen alcoa iconic name aluminum industry 100 years history behind however late2016 breakup company kind starting fresh theres huge amount opportunity also huge amount uncertainty outlook silver wheaton meanwhile continues execute business plan always risks deal notably tax row canada forecast far clear right investors looking toehold metals mining industry put silver wheaton ahead alcoa buy lists 10 stocks like better silver wheatonwhen 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 nowand silver wheaton wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 reuben brewer opens new window position stocks mentioned motley fool owns shares companhia vale silver wheaton motley fool disclosure policy opens new window | 513 |
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<p>Volkswagen AG(NASDAQOTH: VLKAY) isn't giving up on the United States. The German auto giant said this past week that it's planning an aggressive new offensive for its namesake brand, aiming directly at General Motors (NYSE: GM) and Ford Motor Company (NYSE: F) with a slew of new SUVs and battery-electric models.</p>
<p>Continue Reading Below</p>
<p>Volkswagen's plan for the U.S. is part of a major global overhaul plan called TRANSFORM 2025+. The plan includes investments around the world, centered on boosting the VW brand's presence in three parts of the market: low-cost vehicles, SUVs, and battery-electric vehicles.</p>
<p>It's the latter two that are relevant to the U.S., where VW has big goals. According to VW brand chief Herbert Diess:</p>
<p>VW's plan to expand inthe U.S. will begin next year with the all-new made-in-Tennessee Atlas SUV. Image source:Volkswagen AG.</p>
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<p>While VW is a dominant force in Europe and China, the brand's U.S. market share is currently around 2%. It's just a niche player here. The goal is to turn it into a "relevant and profitable volume producer" in the U.S. market.</p>
<p>As Diess said, that plan has two parts: first, a wave of new and improved SUVs designed with the U.S. market in mind, starting with the recently announced VW Atlas, and second, a new line of electric vehicles along with a build-out of recharging infrastructure to support them.</p>
<p>VW said that it will begin producing electric vehicles in North America in 2021. By 2025, the company said that it wants to be selling a million VW-brand electric cars per year around the world and to be the global leader in "e-mobility."</p>
<p>But there's one familiar VW theme that isn't part of its future plan for the United States. While diesel-powered models have accounted for as much as a quarter of VW's U.S. sales in recent years, Diess said that the VW brand will no longer offer diesel-powered models in the U.S.</p>
<p>Simply put, this plan is about giving the Volkswagen brand a way to turn the page from its <a href="http://www.fool.com/investing/general/2015/12/07/volkswagens-diesel-scandal-what-we-know.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">diesel-emissions cheating scandal Opens a New Window.</a>. It's also about boosting the VW brand's profit margins, which have been poor in recent years, and about reversing the brand's long slide to niche status here in the United States.</p>
<p>The profit-margin boost is significant and long overdue. Setting aside the costs of the diesel scandal over the last year, Volkswagen, as a company, has been among the most profitable automakers in the world for several years now. But much of that profit came from VW's Audi and Porsche brands -- the Volkswagen brand itself had an operating profit margin of only about 2% in 2015.VW hopes to double that to 4% by 2020, and to boost it to 6% by 2025.</p>
<p>SUVs will help boost profits, but only if they're competitive. The brand's current SUV models, the Touareg and Tiguan, haven't made much of a dent in the market here. Part of the problem is price: At $49,495 to start, the midsize Touareg isn't much cheaper than the $54,800 Audi Q7, its close mechanical sibling. The smaller Tiguan does somewhat better at $24,995, but it's still expensive for what it is -- and it's not competitive on other fronts with big-selling rivals like Ford's Escape or Honda's CR-V.</p>
<p>VW hopes that its <a href="http://www.fool.com/investing/2016/10/31/why-the-new-2018-atlas-suv-is-key-to-volkswagens-u.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">all-new Atlas Opens a New Window.</a> will start to change that. The Atlas, a three-row SUV that's about the same size as a Ford Explorer, was designed with the U.S. market in mind, and will be built at VW's factory in Chattanooga, Tennessee. But a lot will depend on the Atlas's pricing, how it compares in reviews to rivals like the Explorer and Toyota's Highlander -- and on the new, smaller VW SUVs that will follow the Atlas.</p>
<p>VW's ID Concept is a preview of a new long-range battery-electric VW that is expected to arrive in 2020. Image source: Volkswagen AG.</p>
<p>As for VW's aggressive push into electric vehicles, it's hard to say how that will play out. <a href="http://www.fool.com/investing/2016/09/28/coming-not-so-soon-volkswagens-long-range-electric.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">VW's first mass-market electric car Opens a New Window.</a> is said to have specs that compare well to GM's Chevrolet Bolt EV -- but the electric VW won't go into production until 2020. Meanwhile, the Bolt is shipping right now. How far will GM (and others) advance between now and the VW's launch?</p>
<p>There's no obvious flaw with VW's ambitious plan -- except that it's very late to the global SUV boom, and it looks like it might be late to the battery-electric party, as well. I don't doubt that VW can be competitive: The company has massive global scale, capable engineers, and -- the diesel scandal notwithstanding -- plenty of money to spend.</p>
<p>But competitors aren't standing still, and VW's plan depends on its making inroads into market segments where its biggest rivals have sizable leads. I think investors need to see more concrete results from VW before buying into this vision.</p>
<p>10 stocks we like better than Volkswagen 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>
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<p><a href="http://my.fool.com/profile/TMFMarlowe/info.aspx" type="external">John Rosevear Opens a New Window.</a> owns shares of Ford and General Motors. The Motley Fool owns shares of and recommends Ford. The Motley Fool recommends General Motors. 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 | volkswagen agnasdaqoth vlkay isnt giving united states german auto giant said past week planning aggressive new offensive namesake brand aiming directly general motors nyse gm ford motor company nyse f slew new suvs batteryelectric models continue reading volkswagens plan us part major global overhaul plan called transform 2025 plan includes investments around world centered boosting vw brands presence three parts market lowcost vehicles suvs batteryelectric vehicles latter two relevant us vw big goals according vw brand chief herbert diess vws plan expand inthe us begin next year allnew madeintennessee atlas suv image sourcevolkswagen ag advertisement vw dominant force europe china brands us market share currently around 2 niche player goal turn relevant profitable volume producer us market diess said plan two parts first wave new improved suvs designed us market mind starting recently announced vw atlas second new line electric vehicles along buildout recharging infrastructure support vw said begin producing electric vehicles north america 2021 2025 company said wants selling million vwbrand electric cars per year around world global leader emobility theres one familiar vw theme isnt part future plan united states dieselpowered models accounted much quarter vws us sales recent years diess said vw brand longer offer dieselpowered models us simply put plan giving volkswagen brand way turn page dieselemissions cheating scandal opens new window also boosting vw brands profit margins poor recent years reversing brands long slide niche status united states profitmargin boost significant long overdue setting aside costs diesel scandal last year volkswagen company among profitable automakers world several years much profit came vws audi porsche brands volkswagen brand operating profit margin 2 2015vw hopes double 4 2020 boost 6 2025 suvs help boost profits theyre competitive brands current suv models touareg tiguan havent made much dent market part problem price 49495 start midsize touareg isnt much cheaper 54800 audi q7 close mechanical sibling smaller tiguan somewhat better 24995 still expensive competitive fronts bigselling rivals like fords escape hondas crv vw hopes allnew atlas opens new window start change atlas threerow suv thats size ford explorer designed us market mind built vws factory chattanooga tennessee lot depend atlass pricing compares reviews rivals like explorer toyotas highlander new smaller vw suvs follow atlas vws id concept preview new longrange batteryelectric vw expected arrive 2020 image source volkswagen ag vws aggressive push electric vehicles hard say play vws first massmarket electric car opens new window said specs compare well gms chevrolet bolt ev electric vw wont go production 2020 meanwhile bolt shipping right far gm others advance vws launch theres obvious flaw vws ambitious plan except late global suv boom looks like might late batteryelectric party well dont doubt vw competitive company massive global scale capable engineers diesel scandal notwithstanding plenty money spend competitors arent standing still vws plan depends making inroads market segments biggest rivals sizable leads think investors need see concrete results vw buying vision 10 stocks like better volkswagen 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 volkswagen ag adr wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns november 7 2016 john rosevear opens new window owns shares ford general motors motley fool owns shares recommends ford motley fool recommends general motors 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 | 593 |
<p>The best cash-back card offers promise unlimited rewards that equate to money back on every purchase you make. Over time, these rebates can add up to hundreds or thousands of dollars in value, even with some&#160; <a href="https://www.fool.com/credit-cards/best-no-annual-fee-credit-cards/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">no-annual-fee cards Opens a New Window.</a>, but there are a few things you should know before applying for a cash-back rewards card.</p>
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<p>Thanks to the enormous popularity of cash-back cards, there is now a huge variety of rewards structures that incentivize certain types of spending. Many cards offer higher cash-back rates on purchases made at <a href="https://www.fool.com/credit-cards/2017/04/07/5-credit-cards-for-saving-money-on-gas.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">gas stations Opens a New Window.</a>, restaurants, and <a href="https://www.fool.com/credit-cards/2017/07/17/3-credit-cards-for-big-grocery-rewards.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">grocery stores Opens a New Window.</a>, for example.</p>
<p>The truth is, though, that it's easy to perceive these perks as being more valuable than they really are. The average household doesn't necessarily spend that much on these major bonus categories, according to data from the Bureau of Labor Statistics.</p>
<p>Take gas cards, for instance. While 3% cash back on gasoline purchases may sound like a sweet deal, it may have little to no advantage over a card that offers a flat 2% cash back on all purchases. Say your card pays you 3% on gas purchases and 1% on the other two categories above. Assuming you spend the average amount on each category and charge it all on that card, you'll get about $133 back for the year. Meanwhile, a card that pays you 2% of every purchase would return $273 to your wallet -- and that $140 difference would grow if you used the card for more types of spending.</p>
<p>Of course, people spend different amounts of money on different things. Large families with kids can crush it with a cash-back card that incentivizes gas and <a href="https://www.fool.com/credit-cards/2017/07/14/3-credit-cards-for-wholesale-club-fans.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">wholesale club purchases Opens a New Window.</a>, while a young-adult household might fare better with a simple flat-rate cash-back card for all spending.</p>
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<p>Be aware of a cash-back card's <a href="https://www.fool.com/credit-cards/2017/04/30/read-this-before-applying-for-a-cash-back-credit-c.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">minimum redemption Opens a New Window.</a> threshold -- i.e., the smallest amount in rewards you can claim. Typically, cards have minimum redemption amounts ranging from $0 (no minimum) all the way up to $100. At the high end, cardholders may have to wait months or years before meeting the minimum redemption threshold.</p>
<p>For this reason, smaller spenders may want to stick with a card that offers flat <a href="https://www.fool.com/credit-cards/chase-freedom-unlimited?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">1.5% cash back with no minimum redemption Opens a New Window.</a>, rather than applying for a 2% cash-back card that has a $25 or $50 minimum redemption threshold. Rewards that sit unused, or are never redeemed, simply have no value.</p>
<p>If you don't have much use for free hotel stays, flights, or rental cars, you can skip this section. But if you do&#160;travel, know that a <a href="https://www.fool.com/credit-cards/best-travel-credit-cards?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">travel card Opens a New Window.</a> may be a better value than a cash-back rewards card.</p>
<p>It's an unwritten rule that travel cards have some of the most lucrative <a href="https://www.fool.com/credit-cards/best-credit-card-sign-up-bonuses/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">sign-up bonuses Opens a New Window.</a>, and the points (or miles) they earn can have value in excess of their stated value. Last year, I used points that the card issuer valued at $1,500 to stay in a hotel that would have cost me $2,800 for the duration of my stay.</p>
<p>Many travel cards offer the ability to transfer points or miles to hotel and airline loyalty programs, which can amplify their value. Although my points had a stated value of $0.015 each, I effectively redeemed them at a value of $0.028 each -- nearly twice the value advertised by the credit card issuer.</p>
<p>This isn't unusual, nor did it require any extra knowledge or trickery on my part. All I had to do was transfer my points from my credit card to a hotel loyalty program to get value beyond the advertised value. That said, if you don't travel, a cash-back card is almost universally a better pick, as travel card rewards usually <a href="https://www.fool.com/credit-cards/2017/04/29/3-tips-to-know-before-applying-travel-credit-card.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">redeem for cash Opens a New Window.</a> at a lower rate.</p>
<p>Don't make the mistake of ignoring <a href="https://www.fool.com/credit-cards/best-credit-card-sign-up-bonuses/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">sign-up bonuses Opens a New Window.</a> when applying for a credit card. Frequently, cards that have a lower cash-back rate of 1.5% are better than a card with a 2% cash back rate when the new-cardholder bonus is taken into consideration.</p>
<p>Many of Fool.com's <a href="https://www.fool.com/credit-cards/best-cash-back-credit-cards?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">top picks in cash-back cards Opens a New Window.</a> offer a sign-up bonus of $150 or more for as little as $500 or $1,000 of spending. In fact, our top three picks all offer at least $150 in new-cardholder bonuses for qualifying cardholders who spend $1,000 or less in the first three months after account opening.</p>
<p>When combined, these cards collectively reward qualifying cardholders with $500 of sign-up bonus rewards just for spending a total of $2,000. That's like getting an average of 25% cash back on your purchases during the promo period.</p>
<p>Cash-back rewards can be lucrative, but they have no value for people who carry a balance on their credit cards. Paying just three months' worth of interest erases all the benefit of an enormous 5% cash-back rate earned from a bonus-category credit card.</p>
<p>Cardholders who carry balances should instead look into 0% APR promos on balance transfer credit cards. Balance transfer cards are widely underrated. Moving a $5,000 balance from a card at an 18% APR to a 0% balance transfer card can <a href="https://www.fool.com/investing/2017/04/29/3-of-the-best-balance-transfer-credit-card-perks.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">save you more than $600 in interest Opens a New Window.</a> during the introductory period. You'd have to spend $30,000 to $40,000 on the best cash-back cards to generate that kind of value!</p>
<p>For people who have balances, the value provided by <a href="https://www.fool.com/credit-cards/best-balance-transfer-credit-cards/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">0% APR balance transfers Opens a New Window.</a> easily exceeds even the <a href="https://www.fool.com/credit-cards/best-credit-cards-excellent-credit/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">most lucrative rewards cards Opens a New Window.</a>.</p>
<p>It pays to consider all your options before sending in your application. Cash-back credit card rewards aren't the only way to extract value from credit cards. Zero-percent promo APRs can go a long way, too.</p>
<p>5 Simple Tips to Skyrocket Your Credit Score Over 800!Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they're members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You'll find a full rundown of each inside our <a href="http://www.fool.com/ecap/the_motley_fool/mortgage-creditscore/?ftm_cam=the-motley-fool&amp;ftm_veh=article_pitch&amp;source=ic3editxt0000001&amp;aid=8985&amp;ftm_pit=6983&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">FREE credit score guide Opens a New Window.</a>. It's time to put your financial future first and secure a lifetime of savings by increasing your credit score. Simply <a href="http://www.fool.com/ecap/the_motley_fool/mortgage-creditscore/?ftm_cam=the-motley-fool&amp;ftm_veh=article_pitch&amp;source=ic3editxt0000001&amp;aid=8985&amp;ftm_pit=6983&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">click here Opens a New Window.</a>&#160;to claim a copy 5 Simple Tips to Skyrocket Your Credit Score over 800.</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;uuid=4e2d2e84-8171-11e7-a965-0050569d4be0&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | best cashback card offers promise unlimited rewards equate money back every purchase make time rebates add hundreds thousands dollars value even some160 noannualfee cards opens new window things know applying cashback rewards card continue reading thanks enormous popularity cashback cards huge variety rewards structures incentivize certain types spending many cards offer higher cashback rates purchases made gas stations opens new window restaurants grocery stores opens new window example truth though easy perceive perks valuable really average household doesnt necessarily spend much major bonus categories according data bureau labor statistics take gas cards instance 3 cash back gasoline purchases may sound like sweet deal may little advantage card offers flat 2 cash back purchases say card pays 3 gas purchases 1 two categories assuming spend average amount category charge card youll get 133 back year meanwhile card pays 2 every purchase would return 273 wallet 140 difference would grow used card types spending course people spend different amounts money different things large families kids crush cashback card incentivizes gas wholesale club purchases opens new window youngadult household might fare better simple flatrate cashback card spending advertisement aware cashback cards minimum redemption opens new window threshold ie smallest amount rewards claim typically cards minimum redemption amounts ranging 0 minimum way 100 high end cardholders may wait months years meeting minimum redemption threshold reason smaller spenders may want stick card offers flat 15 cash back minimum redemption opens new window rather applying 2 cashback card 25 50 minimum redemption threshold rewards sit unused never redeemed simply value dont much use free hotel stays flights rental cars skip section do160travel know travel card opens new window may better value cashback rewards card unwritten rule travel cards lucrative signup bonuses opens new window points miles earn value excess stated value last year used points card issuer valued 1500 stay hotel would cost 2800 duration stay many travel cards offer ability transfer points miles hotel airline loyalty programs amplify value although points stated value 0015 effectively redeemed value 0028 nearly twice value advertised credit card issuer isnt unusual require extra knowledge trickery part transfer points credit card hotel loyalty program get value beyond advertised value said dont travel cashback card almost universally better pick travel card rewards usually redeem cash opens new window lower rate dont make mistake ignoring signup bonuses opens new window applying credit card frequently cards lower cashback rate 15 better card 2 cash back rate newcardholder bonus taken consideration many foolcoms top picks cashback cards opens new window offer signup bonus 150 little 500 1000 spending fact top three picks offer least 150 newcardholder bonuses qualifying cardholders spend 1000 less first three months account opening combined cards collectively reward qualifying cardholders 500 signup bonus rewards spending total 2000 thats like getting average 25 cash back purchases promo period cashback rewards lucrative value people carry balance credit cards paying three months worth interest erases benefit enormous 5 cashback rate earned bonuscategory credit card cardholders carry balances instead look 0 apr promos balance transfer credit cards balance transfer cards widely underrated moving 5000 balance card 18 apr 0 balance transfer card save 600 interest opens new window introductory period youd spend 30000 40000 best cashback cards generate kind value people balances value provided 0 apr balance transfers opens new window easily exceeds even lucrative rewards cards opens new window pays consider options sending application cashback credit card rewards arent way extract value credit cards zeropercent promo aprs go long way 5 simple tips skyrocket credit score 800increasing credit score 800 put rare company rare 1 9 americans claim theyre members elite club contrary popular belief racking high credit score lot easier may imagined following 5 simple disciplined strategies youll find full rundown inside free credit score guide opens new window time put financial future first secure lifetime savings increasing credit score simply click opens new window160to claim copy 5 simple tips skyrocket credit score 800 motley fool disclosure policy opens new window | 658 |
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<p>Warren Buffet famously said that the best time to sell a stock is never. While not even the Oracle of Omaha strictly adheres to that rule, investors still should have an appropriately long time horizon for the companies they put their money into. At least three to five years is a minimum; a decade is better, and decades is best.</p>
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<p>Still, when companies make huge moves in a short period of time, it's worthwhile to see what the catalysts were that caused them to explode in value. Advanced Micro Devices (NASDAQ: AMD), Chemours (NYSE: CC), and KEMET (NYSE: KEM) are three stocks that soared in value over the past year so that had you invested $3,000 in any one of them, you'd be looking at a $15,000 gain -- or better! Let's see why they made the moves they did.</p>
<p>Image source: Advanced Micro Devices.</p>
<p>It was a long time coming, but Advanced Micro Devices posted its first adjusted profits in 2016. The last time the chipmaker was in the black, at least on a non-GAAP basis, was 2011, and after wandering in the wilderness for so long, it was a welcome homecoming.</p>
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<p>The basis for the gains was its ability to carve out a niche supplying chips for the gaming industry as the PC business declined. Early on in 2016, it signed a deal with Tianjin Haiguang Advanced Technology Investment to license server chip designs for new processors for gaming consoles from Nintendo, Sony, and Microsoft, and it has recognized $88 million from the deal so far.</p>
<p>A lot of the sentiment in favor of AMD has depended on the ability ofits Polaris, Vega, and Ryzen (aka Zen) architecturesto gain share in the GPU and CPU markets, as well as sign more IP licensing deals with customers. By doing so, it has once again emergedas a competitive second source to Intel (NASDAQ: INTC), which it's planning to challenge with its new Ryzen processors and Naples server chips.</p>
<p>However, the company is also reportedly willing to partner with its rival in a bid to take on NVIDIA. It will reportedly feature Intel's CPUs alongside its own GPUs in what can only be described as a case of "the enemy ofmy enemy is my friend."</p>
<p>There's still a lot of ground for Advanced Micro Devices to make up, but that seems to bode well for further gains in its stock, which has risen from well under $3 a share in March 2016 to over $14 a stub today. The 436% gain would have turned $3,000 into more than $16,000 in just one year.</p>
<p>Image source: Chemours.</p>
<p>Spun off from DuPont (NYSE: DD) in 2015, performance chemicals specialist Chemours was seen as set up for failure from the beginning, with lots of debt and toxic assets its former parent wanted to shield itself from. The titanium dioxide market that had bolstered the balance sheets of DuPont, Dow Chemical, Kronos Worldwide, and Huntsman, the world's four largest producers of the white pigment, also imploded.</p>
<p>However, though it initially lost 85% of its value in its first seven months as a separate company, Chemours has gone on to be a star performer. It did so by cutting expenses and its workforce, and by shedding or shutting non-core assets. In 2016, Chemours reduced costs by $200 million, improved operating cash flows by $412 million, and retired $385 million in long-term debt. While the TiO2 business it inherited from DuPont is still weak, the performance chemicals leader was still able to raise prices last year, showing it still possesses substantial power in the industry and allowing it to more than double its adjusted earnings before interest, taxes, depreciation, and amortization margins to $157 million.</p>
<p>Shares of Chemours have gone from less than $7 each to over $33, a better than 400% gain that would have transformed $3,000 into more than $15,000. It still has some substantial risks ascribed to it, but it's a much better business than it was when it first hit the public markets.</p>
<p>Image source: KEMET.</p>
<p>The world's largest manufacturer of solid tantalum capacitors and one of the biggest makers of multilayer ceramic capacitors used across automotive, communications, and military andaerospace industries, KEMET has been on the rise since the November elections, perhaps on the promise by President Trumpof increased infrastructure spending that would dwarf the stimulus spending package of his predecessor.</p>
<p>However, last month, KEMET's stock surged nearly 23% in one day after announcing it was acquiring NEC TOKIN, a Japanese manufacturer of tantalum capacitors, in which it had already owned a substantial stake. While the purchase brings new capabilities under KEMET's purview and enhances existing lines, there seems to be little reason for the outsized gains the deal generated.</p>
<p>When KEMET originally took a stake in TOKIN, regulators had no problem signing off on the deal because there were no competitive concerns raised, and it would only increase KEMET's market share incrementally. Of course, that was a few years ago, and now KEMET will own the entire company, but the playing field does appear to have been significantly altered to warrant the outsized gain.</p>
<p>Even so, KEMET's stock is up 440% over the past year, most of it since November, when it went from trading around $3.60 per share to today, where it stands north of $11 a share. That would mean it would have turned $3,000 into more than $16,000. Considering it had been trading sideways for much of 2016, those gains have largely occurred in about just four months' time, making its compounded growth rate really much larger.</p>
<p>10 stocks we like better than Advanced Micro DevicesWhen 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=4b55a6dc-4e48-407e-8de4-4ee66771dcb0&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 Advanced Micro Devices 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=4b55a6dc-4e48-407e-8de4-4ee66771dcb0&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>Teresa Kersten is an employee of LinkedIn and is a member of The Motley Fool's board of directors. LinkedIn is owned by Microsoft. <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 Nvidia. The Motley Fool recommends Intel. 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 buffet famously said best time sell stock never even oracle omaha strictly adheres rule investors still appropriately long time horizon companies put money least three five years minimum decade better decades best continue reading still companies make huge moves short period time worthwhile see catalysts caused explode value advanced micro devices nasdaq amd chemours nyse cc kemet nyse kem three stocks soared value past year invested 3000 one youd looking 15000 gain better lets see made moves image source advanced micro devices long time coming advanced micro devices posted first adjusted profits 2016 last time chipmaker black least nongaap basis 2011 wandering wilderness long welcome homecoming advertisement basis gains ability carve niche supplying chips gaming industry pc business declined early 2016 signed deal tianjin haiguang advanced technology investment license server chip designs new processors gaming consoles nintendo sony microsoft recognized 88 million deal far lot sentiment favor amd depended ability ofits polaris vega ryzen aka zen architecturesto gain share gpu cpu markets well sign ip licensing deals customers emergedas competitive second source intel nasdaq intc planning challenge new ryzen processors naples server chips however company also reportedly willing partner rival bid take nvidia reportedly feature intels cpus alongside gpus described case enemy ofmy enemy friend theres still lot ground advanced micro devices make seems bode well gains stock risen well 3 share march 2016 14 stub today 436 gain would turned 3000 16000 one year image source chemours spun dupont nyse dd 2015 performance chemicals specialist chemours seen set failure beginning lots debt toxic assets former parent wanted shield titanium dioxide market bolstered balance sheets dupont dow chemical kronos worldwide huntsman worlds four largest producers white pigment also imploded however though initially lost 85 value first seven months separate company chemours gone star performer cutting expenses workforce shedding shutting noncore assets 2016 chemours reduced costs 200 million improved operating cash flows 412 million retired 385 million longterm debt tio2 business inherited dupont still weak performance chemicals leader still able raise prices last year showing still possesses substantial power industry allowing double adjusted earnings interest taxes depreciation amortization margins 157 million shares chemours gone less 7 33 better 400 gain would transformed 3000 15000 still substantial risks ascribed much better business first hit public markets image source kemet worlds largest manufacturer solid tantalum capacitors one biggest makers multilayer ceramic capacitors used across automotive communications military andaerospace industries kemet rise since november elections perhaps promise president trumpof increased infrastructure spending would dwarf stimulus spending package predecessor however last month kemets stock surged nearly 23 one day announcing acquiring nec tokin japanese manufacturer tantalum capacitors already owned substantial stake purchase brings new capabilities kemets purview enhances existing lines seems little reason outsized gains deal generated kemet originally took stake tokin regulators problem signing deal competitive concerns raised would increase kemets market share incrementally course years ago kemet entire company playing field appear significantly altered warrant outsized gain even kemets stock 440 past year since november went trading around 360 per share today stands north 11 share would mean would turned 3000 16000 considering trading sideways much 2016 gains largely occurred four months time making compounded growth rate really much larger 10 stocks like better advanced micro deviceswhen 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 nowand advanced micro devices wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 teresa kersten employee linkedin member motley fools board directors linkedin owned microsoft rich duprey opens new window position stocks mentioned motley fool owns shares recommends nvidia motley fool recommends intel motley fool disclosure policy opens new window | 629 |
<p>First, my imperfect but still relevant bona fides…</p>
<p>While I would never claim to have lived what's called the "black experience," I do know what life is like in an American inner-city (what was then called the ghetto) and in an inner-city school. I spent my sixth grade in <a href="http://urbanmilwaukee.com/2013/06/03/jackie-robinson-middle-school-remade-as-senior-living-community/" type="external">Milwaukee's Jackie Robinson Middle School</a>, and for two years I lived and worked on Milwaukee's North Side near or below 35th Street (look it up). Not as a tourist or a yuppie looking to gentrify, not as some liberal do-gooder who's "down with the struggle." I was poor. Period. And during those years, like many who live in these areas, I was mugged, assaulted, and robbed.</p>
<p>My wife and I eventually escaped -- not through the government or any kind of handout, but through family and our own relationship. With a small family loan of around $800 and the combining of our incomes (we both worked), we were able to escape to a small one bedroom apartment in a nicer part of town. From there, we never looked back.</p>
<p>Let me first address the elephant in the room -- yes, I'm white. So maybe my white privilege had something to do with it? Well, my white privilege can't seem to get "Death Wish V" released on Bluray; regardless it is more complicated than that. I'm in an interracial marriage. I was not born into money, rather I was born into the family of a housewife and auto mechanic. My wife was literally born dirt poor in Mexico. One of her earliest memories is sleeping out in the open fields on bags of cotton her migrant parents picked. When we met she was working two full time jobs.</p>
<p>This is the long way of me telling you that unlike many politicians and almost all journalists, I know a little something of what I speak.</p>
<p>Life In An Inner-City School</p>
<p>For a lily-white kid who had spent his entire life in the Milwaukee suburb of Wauwatosa, my year at Jackie Robinson was one of the best things that ever happened to me. You either adapt and survive in that feral environment or you collapse into a pool of blubbering victimhood. I came out the other end much wiser and tougher.</p>
<p>For those students who didn't come from Wauwatosa (read all of them) that year was a moral calamity, a completely lost academic year in a school that barely held any classes. Granted, it was some kind of liberal do-gooder experimental school at the time, where the structure of a regular school was ejected in favor of the idea of letting kids be kids. But what it really was was "Lord of the Flies," with hopeless and hapless teachers standing by.</p>
<p>Other than the endless racial bullying (the school was more than 70% black), which only ended after I decided not to take it anymore (like I said, the school was good for me), my memories of that year revolve mainly around card playing, comic book trading, running the halls, and all kinds of grab-assing. Tragically, although this was a group of kids that most needed it, there was absolutely no focus on the academic skills that might eventually result in a better life for them.</p>
<p>Basically, it was a warehouse disguised as an educational experiment.</p>
<p>Life In The Inner City</p>
<p>What is there to say? It's awful. Sure, an overwhelming majority of the people who live in inner-cities are hardworking and decent. What ruins everything, though, is a disproportionately high amount of rotten people who prey on your children with the allure of drugs, sex, and gangs. The criminal element is a cancer. The threat of violence looms over all things, which devastates property values, which frightens away both personal and business investment, which turns into a vicious circle of despair.</p>
<p>What brought black Americans north during what is known as the Great Migration of the 1900s, was more than just a desire to flee from the Democrat-run Jim Crow south. It was the promise of industrialized factory work, a good job; and eventually a good union job.</p>
<p>With these jobs, a black man could raise a family, put his children into school instead of into the fields, and even own his own home.</p>
<p>Then the industrial base began to collapse… Then the Great Society decided it was a good idea for Uncle Sam to replace the black father. The Left's War on Poverty was nothing more than another sinister plantation disguised as compassion. With their policies of slavery and Jim Crow, Democrats could not destroy the black family. They finally found a silver bullet in the welfare check (which is having the same effect on the white rural poor, though not (yet) at the same alarming numbers).</p>
<p>So what do you have in the inner-city? Absentee fathers replaced with gangs and drugs, ridiculously over-funded schools that have failed generation after generation, a culture of dependence on a government that subjugates one's sense of individualism and self respect, and mostly service jobs as opposed to the kind of jobs that give a person a decent income and a true sense of self-worth.</p>
<p>On top of that, thanks to big business-addicted Republicans and mercenary Democrats, many of our cities are being flooded with low-wage labor in the form of refugees, legal immigrants and illegal immigrants. In other words, even for shitty starter jobs, our own distressed citizens are in competition against people who have no business being here until our own are taken care of.</p>
<p>Moreover, with all this cheap labor, wages are artificially lowered in a marketplace that is a boon for The Man.</p>
<p>Let's talk first about what is not the answer.</p>
<p>Enterprise Zones Are a Joke</p>
<p>Sure, as a young Republican concerned primarily with the poor and well aware of the fact that left-wing policies are designed only to enslave the poor, I was once enamored with the Jack Kemp plan to create "enterprise zones" or "empowerment zones." The idea is basically one where businesses are given all kinds of government incentives to relocate into inner-cities and hire within.</p>
<p>Unfortunately, they <a href="http://www.city-journal.org/html/why-enterprise-zones-will-not-work-12612.html" type="external">don't work</a>.</p>
<p>Social networks, not residential geography, tend to determine employment decisions. Social networks may be centered on a particular neighborhood, but they are often not, particularly in the sort of high-crime ghettos that discourage the formation of strong local ties. In areas like Red Hook, residents tend not to be embedded in social networks that connect them to private-sector jobs, even jobs in their own neighborhood. There is little reason to suppose that promoting local businesses in similar areas would change this pattern.</p>
<p>In some cases employers preferred not to hire people who lived too close to work for fear that the complicated lives of the poor would spill out into the workplace:</p>
<p>We have drawn people from the Red Hook area for a number of jobs and we haven’t had particularly good experiences. It’s interesting that the thing that seems to be the problem is that people feel almost too close to home. They tend to want to go home for lunch and stay there.... They tend to have a fair number of visitors. Sometimes children, spouses, boyfriends, and girlfriends come in to visit them.... Sometimes that can be very disruptive.</p>
<p>More often, however, the focus of locality discrimination was the fear of crime. An employer with a large facility on the waterfront pointed with pride to his all-black team of security guards, West Indian immigrants who commute from central Brooklyn and Queens, but scoffed at the idea of hiring local African-Americans: “What, the bums hanging around outside? You want me to hire the guys who are trying to rob me?”</p>
<p>Trump wants to take an entirely new approach to helping our inner-cities, and one that I think is much more pragmatic because it is bottom-up as opposed to top-down.</p>
<p>School Choice</p>
<p>The cronyism between Democrats and teachers unions is nothing short of demonic. One of the reasons I left the Democrat Party was over this issue. The idea that Democrats would oppose giving an impoverished inner-city child a Golden Ticket out of the disaster that is the government-run inner-city school system is outright inhuman, and proves that Democrats like their black voters as poor, dependent and uneducated as possible.</p>
<p>Over the last week, Trump has made school choice one of the centerpieces of his pitch to black voters. Until black Americans threaten the Democrat power structure over this issue, it will never happen. Trump assailing Hillary and Co. over this might just help to wake that sleeping giant.</p>
<p>Immigration Immigration Immigration</p>
<p>At the expense of the poor everywhere, but most especially the inner-city poor, Democrats (with the help of those big business-addicted Republicans) are flooding this country with unskilled, low wage labor.</p>
<p>First off, primarily from the black youth who most need them, all of this immigration eliminates countless starter jobs -- those crucial jobs that teach responsibility and accountability, that get a resume rolling that can lead to better things.</p>
<p>Worse, as I mentioned before, this flood of future Democrats artificially depresses wages, which makes all the difference. One practical difference is the one between owning a car and not owning a car -- which is oftentimes the difference between being able to move out of the inner-city or landing a better job in the suburbs.</p>
<p>See how this works?</p>
<p>Smart Trade Over Free Trade</p>
<p>Dear Free Trade Absolutists:</p>
<p>I am more than willing to admit that there will be some negative consequences as a result of Trump's proposed ideas to not be a free trade absolutist. There is no question that tariffs and quotas have a downside.</p>
<p>Why, then, can you not admit that there has been a negative consequence as a result of free trade absolutism? Why can't you admit that on top of the devastating effects globalism has had on the Rust Belt, there has also been incalculable cultural damage, especially in our inner-cities.</p>
<p>And yet, every time someone dares question your Free Trade Absolutism Commandment, you stomp your feet like Rumpelstiltskin in the absurd certitude that globalism turns straw into gold.</p>
<p>Listen, just like the enterprise zones, I used to be one of you. But the evidence is now achingly clear that one of the consequences of this philosophy has been devastating.</p>
<p>Is there no middle ground here?</p>
<p>Sure, we might pay a little more for motorcycles, but would Wisconsin and America be better off had Ronald Reagan not stepped in to save Harley Davidson?</p>
<p>Are you really not willing to pay a penny more for some WalMart gizmo, even if it means all the good that come from a job over a welfare check for a fellow American?</p>
<p>And if you can only be convinced by your steel-cold slide rule, don't you think that in the long run, the economic benefits will outweigh the drawbacks?</p>
<p>There has to be some compromise on this front.</p>
<p>Assaulting Political Correctness</p>
<p>While Trump himself hasn't directly connected his healthy contempt for the fascism of political correctness to this issue, it is still worthy of note.</p>
<p>Something the left and their media allies have effectively accomplished over the last two decades is placing victimhood above actual ideas. It works like this: The media gives an individual or group victim status. Once that status has been given, the victim can never be wrong, even when they are objectively wrong. And anyone who disagrees is bullied into submission.</p>
<p>Trump's blunt-force assault on this corporate fascism has, and will hopefully continue to, embolden more people to simply tell the truth. Truth is healthy and here are some truths that will help everyone:.</p>
<p>Loveless sex is wrong, unhealthy for the soul and body, and leads only to misery, disease, and poverty.</p>
<p>Having a child out of wedlock is wrong.</p>
<p>Accepting welfare when you are able-bodied is wrong.</p>
<p>Shame is a powerful weapon, not when it's used by the self-righteous, but when it's used to dissuade people from destructive behavior.</p>
<p>We need to bring back shame, not hide it behind an EBT card disguised as a debit card.</p>
<p>Marriage</p>
<p>The only reason my wife and I escaped the inner-city was through our relationship. On top of allowing my wife to quit her second job, our combined income (which wasn't much) changed everything. Instead of scraping by in the hell of the ghetto, we could scrape by in a suburb.</p>
<p>For a whole host of reasons, the easiest and fastest way to escape poverty is through marriage, or at least a committed relationship on its way to marriage. By sharing expenses, you can afford to move to a nicer part of town and maybe even purchase the vehicle so necessary for upward mobility.</p>
<p>By design, to trap people into government dependence, the destructive welfare state ensures this never happens. Having a child out of wedlock, which the welfare state encourages, is the fastest road to poverty.</p>
<p>Through a school choice program that allows parents to send their children to religious schools, if they so choose, maybe a dent can be made in the destructive mindset that rationalizes out-of-wedlock births. This is another reason Democrats oppose vouchers.</p>
<p>--</p>
<p>It took a half-century for left-wing policies to achieve their sinister goal of devastating too many black families into the kind of dependency and despair that assures 90% of the vote for the very Party gleefully oppressing them.</p>
<p>Trump's answer is not going to turn that battleship around right away, and it is not the only answer, and like the enterprise zone, we may learn that it is not even the right answer. But it is at least a new answer.</p>
<p>Follow John Nolte on Twitter <a href="https://twitter.com/NolteNC" type="external">@NolteNC</a></p> | true | 0 | first imperfect still relevant bona fides would never claim lived whats called black experience know life like american innercity called ghetto innercity school spent sixth grade milwaukees jackie robinson middle school two years lived worked milwaukees north side near 35th street look tourist yuppie looking gentrify liberal dogooder whos struggle poor period years like many live areas mugged assaulted robbed wife eventually escaped government kind handout family relationship small family loan around 800 combining incomes worked able escape small one bedroom apartment nicer part town never looked back let first address elephant room yes im white maybe white privilege something well white privilege cant seem get death wish v released bluray regardless complicated im interracial marriage born money rather born family housewife auto mechanic wife literally born dirt poor mexico one earliest memories sleeping open fields bags cotton migrant parents picked met working two full time jobs long way telling unlike many politicians almost journalists know little something speak life innercity school lilywhite kid spent entire life milwaukee suburb wauwatosa year jackie robinson one best things ever happened either adapt survive feral environment collapse pool blubbering victimhood came end much wiser tougher students didnt come wauwatosa read year moral calamity completely lost academic year school barely held classes granted kind liberal dogooder experimental school time structure regular school ejected favor idea letting kids kids really lord flies hopeless hapless teachers standing endless racial bullying school 70 black ended decided take anymore like said school good memories year revolve mainly around card playing comic book trading running halls kinds grabassing tragically although group kids needed absolutely focus academic skills might eventually result better life basically warehouse disguised educational experiment life inner city say awful sure overwhelming majority people live innercities hardworking decent ruins everything though disproportionately high amount rotten people prey children allure drugs sex gangs criminal element cancer threat violence looms things devastates property values frightens away personal business investment turns vicious circle despair brought black americans north known great migration 1900s desire flee democratrun jim crow south promise industrialized factory work good job eventually good union job jobs black man could raise family put children school instead fields even home industrial base began collapse great society decided good idea uncle sam replace black father lefts war poverty nothing another sinister plantation disguised compassion policies slavery jim crow democrats could destroy black family finally found silver bullet welfare check effect white rural poor though yet alarming numbers innercity absentee fathers replaced gangs drugs ridiculously overfunded schools failed generation generation culture dependence government subjugates ones sense individualism self respect mostly service jobs opposed kind jobs give person decent income true sense selfworth top thanks big businessaddicted republicans mercenary democrats many cities flooded lowwage labor form refugees legal immigrants illegal immigrants words even shitty starter jobs distressed citizens competition people business taken care moreover cheap labor wages artificially lowered marketplace boon man lets talk first answer enterprise zones joke sure young republican concerned primarily poor well aware fact leftwing policies designed enslave poor enamored jack kemp plan create enterprise zones empowerment zones idea basically one businesses given kinds government incentives relocate innercities hire within unfortunately dont work social networks residential geography tend determine employment decisions social networks may centered particular neighborhood often particularly sort highcrime ghettos discourage formation strong local ties areas like red hook residents tend embedded social networks connect privatesector jobs even jobs neighborhood little reason suppose promoting local businesses similar areas would change pattern cases employers preferred hire people lived close work fear complicated lives poor would spill workplace drawn people red hook area number jobs havent particularly good experiences interesting thing seems problem people feel almost close home tend want go home lunch stay tend fair number visitors sometimes children spouses boyfriends girlfriends come visit sometimes disruptive often however focus locality discrimination fear crime employer large facility waterfront pointed pride allblack team security guards west indian immigrants commute central brooklyn queens scoffed idea hiring local africanamericans bums hanging around outside want hire guys trying rob trump wants take entirely new approach helping innercities one think much pragmatic bottomup opposed topdown school choice cronyism democrats teachers unions nothing short demonic one reasons left democrat party issue idea democrats would oppose giving impoverished innercity child golden ticket disaster governmentrun innercity school system outright inhuman proves democrats like black voters poor dependent uneducated possible last week trump made school choice one centerpieces pitch black voters black americans threaten democrat power structure issue never happen trump assailing hillary co might help wake sleeping giant immigration immigration immigration expense poor everywhere especially innercity poor democrats help big businessaddicted republicans flooding country unskilled low wage labor first primarily black youth need immigration eliminates countless starter jobs crucial jobs teach responsibility accountability get resume rolling lead better things worse mentioned flood future democrats artificially depresses wages makes difference one practical difference one owning car owning car oftentimes difference able move innercity landing better job suburbs see works smart trade free trade dear free trade absolutists willing admit negative consequences result trumps proposed ideas free trade absolutist question tariffs quotas downside admit negative consequence result free trade absolutism cant admit top devastating effects globalism rust belt also incalculable cultural damage especially innercities yet every time someone dares question free trade absolutism commandment stomp feet like rumpelstiltskin absurd certitude globalism turns straw gold listen like enterprise zones used one evidence achingly clear one consequences philosophy devastating middle ground sure might pay little motorcycles would wisconsin america better ronald reagan stepped save harley davidson really willing pay penny walmart gizmo even means good come job welfare check fellow american convinced steelcold slide rule dont think long run economic benefits outweigh drawbacks compromise front assaulting political correctness trump hasnt directly connected healthy contempt fascism political correctness issue still worthy note something left media allies effectively accomplished last two decades placing victimhood actual ideas works like media gives individual group victim status status given victim never wrong even objectively wrong anyone disagrees bullied submission trumps bluntforce assault corporate fascism hopefully continue embolden people simply tell truth truth healthy truths help everyone loveless sex wrong unhealthy soul body leads misery disease poverty child wedlock wrong accepting welfare ablebodied wrong shame powerful weapon used selfrighteous used dissuade people destructive behavior need bring back shame hide behind ebt card disguised debit card marriage reason wife escaped innercity relationship top allowing wife quit second job combined income wasnt much changed everything instead scraping hell ghetto could scrape suburb whole host reasons easiest fastest way escape poverty marriage least committed relationship way marriage sharing expenses afford move nicer part town maybe even purchase vehicle necessary upward mobility design trap people government dependence destructive welfare state ensures never happens child wedlock welfare state encourages fastest road poverty school choice program allows parents send children religious schools choose maybe dent made destructive mindset rationalizes outofwedlock births another reason democrats oppose vouchers took halfcentury leftwing policies achieve sinister goal devastating many black families kind dependency despair assures 90 vote party gleefully oppressing trumps answer going turn battleship around right away answer like enterprise zone may learn even right answer least new answer follow john nolte twitter noltenc | 1,189 |
<p>Another discussion by liberal talking heads on CNN yesterday depicted House conservatives as fanatical budget-cutters standing in the way of a “deal” on federal spending and debt. But the Cut, Cap, and Balance Bill, which has been portrayed as draconian and fiscally conservative, actually raises the debt ceiling by $2.5 trillion. Nine House Republicans voted against the bill for this and other related reasons.</p>
<p />
<p>Coverage of the Cut, Cap, and Balance Act (H.R. 2560) has been extremely misleading. The coverage is reminiscent of how the media portray cuts in the rate of growth of federal spending as actual cuts.</p>
<p>In this case, however, the House Republican leadership went along with the ploy, in order to portray themselves as serious budget cutters. The liberal media were only too willing to oblige, setting up a final showdown in which Obama stands to come out the big winner and make cuts that will undermine our national defense—a constitutional obligation of the federal government.</p>
<p>Indeed, one of the “popular” alternatives, now being touted by some in the liberal media, is <a href="http://coburn.senate.gov/public/index.cfm?a=Files.Serve&amp;File_id=c6590d01-017a-47b0-a15c-1336220ea7bf" type="external">a plan</a> by “conservative” Senator Tom Coburn to cut $1 trillion from the U.S. defense budget. His options include cancelling aircraft carriers, “reforming” the Joint Strike Fighter program, delaying production of the Army’s Ground Combat Vehicle, terminating a mobile air defense system, reducing nuclear weapons, and reducing purchases of the V-22 Osprey.</p>
<p>At <a href="http://www.commentarymagazine.com/2011/07/18/coburn-plan-1-trillion-in-defense-cuts-1-trillion-in-tax-hikes/#more-760845" type="external">Commentary</a> magazine, Alana Goodman writes of the Coburn plan that “it’s far more radical than Obama’s own recommendation to slash the defense budget by $400 billion.” She adds, “Military spending is not the reason why we’re in a fiscal crisis. Getting rid of wasteful spending in the defense budget is one thing, but strangling it with cuts will endanger our troops and dangerously diminish America’s standing in the world.”</p>
<p>“House Republicans passed legislation on Tuesday evening calling for deep spending cuts and the adoption of a constitutional amendment requiring a balanced budget,” <a href="http://www.nytimes.com/2011/07/20/us/politics/20fiscal.html?_r=1&amp;hp" type="external">declared The New York Times</a>, not even noting the raising of the debt limit in the bill. It was another attempt to make House Republicans look like something they are not.</p>
<p>Rep. Paul Broun, one of the nine Republicans voting in opposition, did not remain silent about the scheme. “I gave my word to my constituents in Georgia and to the rest of the American people that I would not vote for any bill that increases the debt limit,” he said. “Although the Cut, Cap, and Balance bill is a step in the right direction, it still raises the debt ceiling by $2.4 trillion, and we simply cannot afford it.”</p>
<p>Rep. Connie Mack said, “President Obama has yet to present any specific plan to cut federal spending opting instead to fund ObamaCare at the expense of Social Security and pay to our soldiers. It is senseless to go on record as supporting an increase in the debt ceiling when the President has negotiated in poor faith.”</p>
<p>Comments like these were highlighted in <a href="http://cnsnews.com/news/article/two-2012-hopefuls-among-9-republicans-vo" type="external">a CNS News story</a> by Susan Jones and they demonstrate how the battle over the budget has been covered by the mainstream media based on the assumption that the debt ceiling can and should be raised. Those opposed to the raising of the debt limit were effectively marginalized.</p>
<p>The Washington Post called Cut, Cap, and Balance the “balanced budget bill” and said that “the Republican-controlled House forged ahead Tuesday with another approach to the debt crisis, voting to sharply cut spending and tie an increase in the debt limit to the eventual adoption of a balanced-budget amendment.” It did not mention that the bill would raise the debt ceiling by over $2 trillion.</p>
<p>Investor’s Business Daily <a href="http://www.investors.com/NewsAndAnalysis/Article/578850/201107191848/Bottom-Line-Is-A-Smaller-Govt.htm" type="external">endorsed the plan</a>, saying it was the best of three Republican alternatives, but in claiming that it would “cut spending and the size of government” the paper misled its readers. Clearly, you cannot cut government by giving it more ability to borrow and spend.</p>
<p>Still, the legislation was strongly opposed by liberal Democrats and Obama threatened to veto the bill if it managed to pass the Senate. Hence, the House Republicans are now being forced into the position of eventually agreeing to more government debt and spending on terms even more favorable to Obama.</p>
<p>Cut, Cap and Balance had the support of the Republican Study Committee, the caucus of House conservatives led by Rep. Jim Jordan. The <a href="http://rsc.jordan.house.gov/Solutions/debtceiling.htm" type="external">RSC website</a> boasts of support for this proposal from:</p>
<p>A <a href="http://www.cutcapandbalanceact.com/" type="external">website</a> devoted to passage of the bill and put together by a high profile conservative lobbying firm, CRC Public Relations, lists even more conservative sponsors of the legislation.</p>
<p>But Rep. Francisco “Quico” Canseco said, “I did not vote for this bill because it raises the cap on our nation’s debt by more than $2 trillion. While I support the main principles of this legislation, cutting government spending, capping government spending and balancing the federal budget, I did not support this bill because it was tied to an increase in our debt.”</p>
<p>Rep. Morgan Griffith said that while he supports the general goal of cut, cap, and balance, “I cannot support raising the debt ceiling without significant cuts and a substantial change to the way Washington spends taxpayer dollars.”</p>
<p>Rep. Michele Bachmann said, “While I embrace the principles of Cut, Cap and Balance, the motion does not go far enough in fundamentally restructuring the way Washington spends taxpayer dollars.”</p>
<p>Rep. Scott DesJarlais said, “…I simply cannot vote in favor of giving this President another 2.4 trillion dollars to continue his reckless government spending spree for the next year and a half. Furthermore, the Cut, Cap and Balance legislation does not provide a solid blueprint for where or how this $2.4 trillion increase will be spent. This would allow President Obama to run up two more years of trillion dollar deficits without making tough choices on where to cut spending.”</p>
<p>The other House Republicans voting against the bill were Ron Paul of Texas, Dana Rohrabacher of California and Walter Jones of North Carolina.</p> | true | 0 | another discussion liberal talking heads cnn yesterday depicted house conservatives fanatical budgetcutters standing way deal federal spending debt cut cap balance bill portrayed draconian fiscally conservative actually raises debt ceiling 25 trillion nine house republicans voted bill related reasons coverage cut cap balance act hr 2560 extremely misleading coverage reminiscent media portray cuts rate growth federal spending actual cuts case however house republican leadership went along ploy order portray serious budget cutters liberal media willing oblige setting final showdown obama stands come big winner make cuts undermine national defensea constitutional obligation federal government indeed one popular alternatives touted liberal media plan conservative senator tom coburn cut 1 trillion us defense budget options include cancelling aircraft carriers reforming joint strike fighter program delaying production armys ground combat vehicle terminating mobile air defense system reducing nuclear weapons reducing purchases v22 osprey commentary magazine alana goodman writes coburn plan far radical obamas recommendation slash defense budget 400 billion adds military spending reason fiscal crisis getting rid wasteful spending defense budget one thing strangling cuts endanger troops dangerously diminish americas standing world house republicans passed legislation tuesday evening calling deep spending cuts adoption constitutional amendment requiring balanced budget declared new york times even noting raising debt limit bill another attempt make house republicans look like something rep paul broun one nine republicans voting opposition remain silent scheme gave word constituents georgia rest american people would vote bill increases debt limit said although cut cap balance bill step right direction still raises debt ceiling 24 trillion simply afford rep connie mack said president obama yet present specific plan cut federal spending opting instead fund obamacare expense social security pay soldiers senseless go record supporting increase debt ceiling president negotiated poor faith comments like highlighted cns news story susan jones demonstrate battle budget covered mainstream media based assumption debt ceiling raised opposed raising debt limit effectively marginalized washington post called cut cap balance balanced budget bill said republicancontrolled house forged ahead tuesday another approach debt crisis voting sharply cut spending tie increase debt limit eventual adoption balancedbudget amendment mention bill would raise debt ceiling 2 trillion investors business daily endorsed plan saying best three republican alternatives claiming would cut spending size government paper misled readers clearly cut government giving ability borrow spend still legislation strongly opposed liberal democrats obama threatened veto bill managed pass senate hence house republicans forced position eventually agreeing government debt spending terms even favorable obama cut cap balance support republican study committee caucus house conservatives led rep jim jordan rsc website boasts support proposal website devoted passage bill put together high profile conservative lobbying firm crc public relations lists even conservative sponsors legislation rep francisco quico canseco said vote bill raises cap nations debt 2 trillion support main principles legislation cutting government spending capping government spending balancing federal budget support bill tied increase debt rep morgan griffith said supports general goal cut cap balance support raising debt ceiling without significant cuts substantial change way washington spends taxpayer dollars rep michele bachmann said embrace principles cut cap balance motion go far enough fundamentally restructuring way washington spends taxpayer dollars rep scott desjarlais said simply vote favor giving president another 24 trillion dollars continue reckless government spending spree next year half furthermore cut cap balance legislation provide solid blueprint 24 trillion increase spent would allow president obama run two years trillion dollar deficits without making tough choices cut spending house republicans voting bill ron paul texas dana rohrabacher california walter jones north carolina | 579 |
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<p>You may not be applying for a mortgage from your smartphone just yet, but it can help you out big time during the homebuying process.</p>
<p>Continue Reading Below</p>
<p>Don Frommeyer, president of the National Association of Mortgage Brokers, says that apps came onto NAMB members' radar in late 2011 and early 2012.</p>
<p>"When I started in this business you had a beeper," Frommeyer says. "If you were going to run errands, you always had to have quarters in your pocket to call back to the office."</p>
<p>Apps, he says, are making the mortgage process faster and easier for both borrowers and the lenders. You can do everything from keep track of your credit score to find rates to see how much faster you'll pay off the mortgage if you toss an extra $50 onto your monthly payment.</p>
<p>Before You Start the Mortgage Hunt</p>
<p>To qualify for the lowest possible interest rate on a mortgage, you must have a stellar credit score.</p>
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<p>A big piece of that puzzle is your FICO score. That score is used by 90 of the top 100 largest U.S. financial institutions to make consumer credit decisions, according to a spokesperson from the Fair Isaac Corp., which creates the scores.</p>
<p>Fair Isaac created the myFICO mobile app, which is free to download, but that's about it. For it to track your FICO score, you must sign up and pay for a FICO monitoring service. Also, the app isn't yet available for Android platforms.</p>
<p>A truly free option is Credit Karma, which gives you real-time feedback of your financial health, including a credit score. However, this score is a VantageScore, not a FICO score. A VantageScore is a rating system created by the three major credit unions, while FICO is the older and more established credit rating system. Plus, you only see one score -- from the credit bureau TransUnion -- not all three.</p>
<p>Realtor.com app</p>
<p>Still, if you're trying to get your financial house in order pre-mortgage, Credit Karma can track your progress in areas like credit utilization and percentage of on-time payments. It will also point out any negative hits on your TransUnion credit report, which you can then have removed if they're added to your report by mistake.</p>
<p>If you have a Discover Card, you already get your FICO score via TransUnion on your monthly statement. You can access that statement through their Discover Mobile app, too.</p>
<p>A mortgage is only one cost of owning a home. Homeowners insurance and property taxes are two more big annual expenses. In addition to showing you home prices in your area, real estate apps like Realtor.com's <a href="http://www.realtor.com/mobile?source=web" type="external">Real Estate App Opens a New Window.</a> can give you a property's last five years of property taxes. Realtor.com's app can also show you property tax trends so you can plan for future increases.</p>
<p>In the Hunt</p>
<p>Calculator apps can help you play around with numbers and see what makes a difference. <a href="http://www.bankrate.com/apps/mortgage-app/?pid=p:foxbz" type="external">Bankrate's Mortgage Calculator app Opens a New Window.</a> lets you put in the loan amount, term of the loan, interest rate, property taxes, homeowners insurance, private mortgage insurance and any HOA fees. Then it calculates amortization, which is what the loan will cost over the life of the loan -- including interest.</p>
<p>Bankrate's app also lets you shop for mortgages -- nationally and locally -- by using your ZIP code. Even if you don't contact a lender through the app, it shows you a range of what's being offered for the type of loan you'll need.</p>
<p>Having this information handy can also help if you're negotiating with a loan officer at a bank or credit union where you'd really like to take out your loan, says Albert Williams, an associate professor of finance and economics at the H. Wayne Huizenga School of Business and Entrepreneurship at Nova Southeastern University.</p>
<p>"Like buying a car, you can show a banker that you will qualify for a loan with a lower interest rate at another bank," he said.</p>
<p>Your lender may also make an app available to you so that you can track the loan process as it's happening, and even use the camera on your phone to upload pictures of important documents. One such app is LoanSquatch. It's free to borrowers and your Realtor -- the loan originator pays the fee.</p>
<p>This, of course, assumes that your loan originator offers the app and this service, which is more likely now: As of June 6, NAMB members get a discount, which means it's cheaper for them to offer the service to you.</p>
<p>After You've Unpacked</p>
<p>After you move in, the next step -- aside from unpacking -- is to start paying that money back.</p>
<p>That's where, most likely, your lender's app can come in.</p>
<p>"They already have their money. They already have a relationship with them," says Jennifer Kent, senior analyst at Parks Associates, of banks and customers.</p>
<p>Even if you didn't use your phone in any other part of the mortgage process, you may to pay it back, even if it's just a reminder. According to the Federal Reserve, 24% of all mobile users have used their phone to pay a bill. Of those, 53% received email alerts from their bank and 43% received text message alerts.</p>
<p>This is why a loan provider's mobile app with bill pay may be appealing, though you'll usually need to set up the service from the lender's website.</p>
<p>Know What You're Giving Up in Return</p>
<p>Just because you can use all these applications doesn't mean you should, says Williams.</p>
<p>"I support apps, but they have to be used carefully when very personal information is required," Williams says.</p>
<p>Before you put an app onto your phone, Williams suggests figuring out what the app asks for in return.</p>
<p>Copyright 2014, Bankrate Inc.</p> | true | 0 | may applying mortgage smartphone yet help big time homebuying process continue reading frommeyer president national association mortgage brokers says apps came onto namb members radar late 2011 early 2012 started business beeper frommeyer says going run errands always quarters pocket call back office apps says making mortgage process faster easier borrowers lenders everything keep track credit score find rates see much faster youll pay mortgage toss extra 50 onto monthly payment start mortgage hunt qualify lowest possible interest rate mortgage must stellar credit score advertisement big piece puzzle fico score score used 90 top 100 largest us financial institutions make consumer credit decisions according spokesperson fair isaac corp creates scores fair isaac created myfico mobile app free download thats track fico score must sign pay fico monitoring service also app isnt yet available android platforms truly free option credit karma gives realtime feedback financial health including credit score however score vantagescore fico score vantagescore rating system created three major credit unions fico older established credit rating system plus see one score credit bureau transunion three realtorcom app still youre trying get financial house order premortgage credit karma track progress areas like credit utilization percentage ontime payments also point negative hits transunion credit report removed theyre added report mistake discover card already get fico score via transunion monthly statement access statement discover mobile app mortgage one cost owning home homeowners insurance property taxes two big annual expenses addition showing home prices area real estate apps like realtorcoms real estate app opens new window give propertys last five years property taxes realtorcoms app also show property tax trends plan future increases hunt calculator apps help play around numbers see makes difference bankrates mortgage calculator app opens new window lets put loan amount term loan interest rate property taxes homeowners insurance private mortgage insurance hoa fees calculates amortization loan cost life loan including interest bankrates app also lets shop mortgages nationally locally using zip code even dont contact lender app shows range whats offered type loan youll need information handy also help youre negotiating loan officer bank credit union youd really like take loan says albert williams associate professor finance economics h wayne huizenga school business entrepreneurship nova southeastern university like buying car show banker qualify loan lower interest rate another bank said lender may also make app available track loan process happening even use camera phone upload pictures important documents one app loansquatch free borrowers realtor loan originator pays fee course assumes loan originator offers app service likely june 6 namb members get discount means cheaper offer service youve unpacked move next step aside unpacking start paying money back thats likely lenders app come already money already relationship says jennifer kent senior analyst parks associates banks customers even didnt use phone part mortgage process may pay back even reminder according federal reserve 24 mobile users used phone pay bill 53 received email alerts bank 43 received text message alerts loan providers mobile app bill pay may appealing though youll usually need set service lenders website know youre giving return use applications doesnt mean says williams support apps used carefully personal information required williams says put app onto phone williams suggests figuring app asks return copyright 2014 bankrate inc | 536 |
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<p>Before New York's famed 21 Club steakhouse drew attention in November for hosting Donald Trump, the wealthy U.S. president-elect, it quietly fed other public representatives: trustees of Paris-based AXA SA investment funds.</p>
<p>Continue Reading Below</p>
<p>The trustees - board members tasked with overseeing AXA funds - had events there and at other ritzy spots, legal records show. A 2011 holiday party at a Del Frisco's restaurant cost $25,775, a $1,000 average for each of roughly 25 people present.</p>
<p>"The wine was very good," a trustee recalled of one meal.</p>
<p>The trustees' dining experiences emerged in a federal case decided in August. Investors including a teacher and a retired police officer accused the firm of collecting excessive fees, a charge the firm denied.</p>
<p>U.S. District Judge Peter Sheridan sided with AXA in his 146-page decision, but he wrote the suit had prompted a "more scrupulous and rigorous" review of board expenses. One result was to reimburse investors for some of the meal costs.</p>
<p>In courts across the land, investors are subjecting mutual fund boards to greater scrutiny. Trustees, often paid hundreds of thousands of dollars a year, are under pressure to prove they have stood up for shareholders in an industry that has $16 trillion under management.</p>
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<p>The lawsuits accuse fund boards of missteps such as failing to scrutinize fees or pass along to investors economies of scale as their funds grow with rising markets. The claims illuminate the long obscure role of fund trustees, sometimes known as directors.</p>
<p>Despite their compensation and influence, at many fund families these individuals rarely appear before investors and face few official qualification requirements. Many are current or retired executives, attorneys or academics, much the same as at large publicly traded companies.</p>
<p>Defendants include large fund managers like BlackRock Inc and Pacific Investment Management Co, or Pimco. The fund managers deny wrongdoing. An AXA spokesman declined to comment.</p>
<p>FEES A SENSITIVE TOPIC</p>
<p>In theory, mutual fund trustees can demand lower fees on the funds or fire the managers who choose the funds' investments. But firings, which investors could see as disruptive, hardly ever happen.</p>
<p>A common concern is that the boards are more focused on following technical rules than looking out for shareholder interests, said Stephen Davis, a senior fellow at the Harvard Law School Program on Corporate Governance.</p>
<p>Fees are a sensitive topic for many actively managed mutual funds, which are losing billions of dollars in assets to cheaper index-tracking funds. Even a small reduction in fees can make a big difference for investors who include many U.S. workers whose savings are in 401(k) retirement plans.</p>
<p>A 2015 Morningstar study showed that while industry assets increased by 143 percent over a 10-year period, fund fees charged to clients fell only 27 percent while industry fee revenue rose 78 percent, showing companies benefiting from the gains more than their investors.</p>
<p>LAWSUITS AGAINST BLACKROCK, PIMCO</p>
<p>In one suit, in federal court in Trenton, New Jersey, plaintiffs accuse BlackRock units of benefiting too much as assets of its Global Allocation Fund more than doubled to about $58 billion at Oct. 31, 2013, from about $23 billion at Oct. 31, 2007.</p>
<p>U.S. District Judge Freda Wolfson last year denied a BlackRock motion to dismiss, writing that plaintiffs at least had raised enough doubts about fund trustees that there remained "sufficient allegations that allow for an inference of rubber-stamping by the Boards."</p>
<p>BlackRock defended its boards of trustees. A BlackRock spokesman wrote via email that Global Allocation is priced competitively, adding, "The suit is without merit and we intend to vigorously defend against the action."</p>
<p>A judge has asked both sides for reports on the discovery process by Jan. 19.</p>
<p>A suit in federal court in Seattle compares Pimco's well-known $78 billion Total Return fund with the $2.3 billion Harbor Bond Fund, a similar fund Pimco subadvises.</p>
<p>The plaintiff cited how Pimco charged holders of Class A shares of Total Return 0.85 percent of fund assets, while investors were charged just 0.53 percent of fund assets to own a comparable Harbor Bond Fund share class.</p>
<p>The plaintiff claimed Pimco trustees "have been subverted by defendants and no longer serve in their 'watchdog' role" and cited the trustees' generous pay.</p>
<p>Pimco argues its board follows a rigorous process and called the comparison to Harbor Bond Fund inapt because its in-house funds can require it to perform additional work and assume additional risks. Last year U.S. District Judge Ricardo Martinez denied a Pimco motion to dismiss the case, currently awaiting trial.</p>
<p>A Pimco spokeswoman declined to comment.</p>
<p>Some complaints against directors have been knocked down. In a case against Hartford Funds in Camden, New Jersey, U.S. District Judge Renee Marie Bumb likened claims that Hartford's fund board allowed excessive fees to "armchair quarterbacking and captious nit-picking." Closing arguments in the case are set for January.</p>
<p>But elsewhere even unsuccessful actions have brought board critiques.</p>
<p>In Los Angeles, U.S. District Judge Gary Feess in 2009 dismissed a challenge to fees at American Funds but wrote the board's oversight process "seems less a true negotiation and more an elaborate exercise in checking off boxes and papering the file."</p>
<p>An American Funds spokesman said the company in response provided trustees more information about its approach to compensation. Directors were unavailable to comment, he said.</p>
<p>For a graphic on fund board compensation, click http://fingfx.thomsonreuters.com/gfx/rngs/USA-FUNDS-FEES/010031442H3/index.html</p>
<p>(Editing by Carmel Crimmins and Howard Goller)</p> | true | 0 | new yorks famed 21 club steakhouse drew attention november hosting donald trump wealthy us presidentelect quietly fed public representatives trustees parisbased axa sa investment funds continue reading trustees board members tasked overseeing axa funds events ritzy spots legal records show 2011 holiday party del friscos restaurant cost 25775 1000 average roughly 25 people present wine good trustee recalled one meal trustees dining experiences emerged federal case decided august investors including teacher retired police officer accused firm collecting excessive fees charge firm denied us district judge peter sheridan sided axa 146page decision wrote suit prompted scrupulous rigorous review board expenses one result reimburse investors meal costs courts across land investors subjecting mutual fund boards greater scrutiny trustees often paid hundreds thousands dollars year pressure prove stood shareholders industry 16 trillion management advertisement lawsuits accuse fund boards missteps failing scrutinize fees pass along investors economies scale funds grow rising markets claims illuminate long obscure role fund trustees sometimes known directors despite compensation influence many fund families individuals rarely appear investors face official qualification requirements many current retired executives attorneys academics much large publicly traded companies defendants include large fund managers like blackrock inc pacific investment management co pimco fund managers deny wrongdoing axa spokesman declined comment fees sensitive topic theory mutual fund trustees demand lower fees funds fire managers choose funds investments firings investors could see disruptive hardly ever happen common concern boards focused following technical rules looking shareholder interests said stephen davis senior fellow harvard law school program corporate governance fees sensitive topic many actively managed mutual funds losing billions dollars assets cheaper indextracking funds even small reduction fees make big difference investors include many us workers whose savings 401k retirement plans 2015 morningstar study showed industry assets increased 143 percent 10year period fund fees charged clients fell 27 percent industry fee revenue rose 78 percent showing companies benefiting gains investors lawsuits blackrock pimco one suit federal court trenton new jersey plaintiffs accuse blackrock units benefiting much assets global allocation fund doubled 58 billion oct 31 2013 23 billion oct 31 2007 us district judge freda wolfson last year denied blackrock motion dismiss writing plaintiffs least raised enough doubts fund trustees remained sufficient allegations allow inference rubberstamping boards blackrock defended boards trustees blackrock spokesman wrote via email global allocation priced competitively adding suit without merit intend vigorously defend action judge asked sides reports discovery process jan 19 suit federal court seattle compares pimcos wellknown 78 billion total return fund 23 billion harbor bond fund similar fund pimco subadvises plaintiff cited pimco charged holders class shares total return 085 percent fund assets investors charged 053 percent fund assets comparable harbor bond fund share class plaintiff claimed pimco trustees subverted defendants longer serve watchdog role cited trustees generous pay pimco argues board follows rigorous process called comparison harbor bond fund inapt inhouse funds require perform additional work assume additional risks last year us district judge ricardo martinez denied pimco motion dismiss case currently awaiting trial pimco spokeswoman declined comment complaints directors knocked case hartford funds camden new jersey us district judge renee marie bumb likened claims hartfords fund board allowed excessive fees armchair quarterbacking captious nitpicking closing arguments case set january elsewhere even unsuccessful actions brought board critiques los angeles us district judge gary feess 2009 dismissed challenge fees american funds wrote boards oversight process seems less true negotiation elaborate exercise checking boxes papering file american funds spokesman said company response provided trustees information approach compensation directors unavailable comment said graphic fund board compensation click httpfingfxthomsonreuterscomgfxrngsusafundsfees010031442h3indexhtml editing carmel crimmins howard goller | 588 |
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<p>Image Source: Nucor.</p>
<p>Continue Reading Below</p>
<p>Many income investors are looking for reliable dividend payers to help fund their daily living expenses. On that front, consistency is vital. To put it simply, you want to own companies that cut you a check each quarter -- in good markets and bad. Here are four companies that each boast more than four decades of doing just that: California Water Service Group (NYSE: CWT), Consolidated Edison (NYSE: ED), Nucor Corp. (NYSE: NUE), and W.W. Grainger Inc. (NYSE: GWW).</p>
<p>Water and California go together like... a painfully long drought. But that hasn't stopped California Water Services from upping its annual distribution for 49 consecutive years. That's right... nearly five decades! And to be honest, California is only one of the states in which this diversified water utility works.</p>
<p>California Water Services is the parent company to water companies in its namesake state, Washington, New Mexico, and Hawaii. It provides regulated and non-regulated water services to roughly two million people across 100 communities. Although the company's 2.4% or so yield is nothing to write home about, annual hikes for 49 years are.</p>
<p>The yield is at the lower-end of its trading range during the past decade or so, which means you may not want to jump in with both feet. However, if you are looking for a steady quarterly check with regular, though modest, increases, you should have California Water Services on your list. You should get very interested if the yield gets up into the low-to-mid 3% range.</p>
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<p>Bright lights, big city, lots of electricity. Image Source: Con Edison.</p>
<p>Consolidated Edison is probably best known as Con Ed, at least to those in the metropolitan New York region that it serves. It provides electric services to roughly 3.3 million customers, and gas services to 1.1 million across New York City and Westchester county, a northern suburb of the city.</p>
<p>It also has operations in Orange and Rockland counties in New York State. It even reaches its tentacles into parts of New Jersey and Pennsylvania. And the company provides steam services within Manhattan, too. (Yes, selling steam is a thing.)</p>
<p>Con Ed has upped its distribution every year for 42 years. Interestingly, with a focus on distribution over power generation, it is shielded somewhat from electricity prices, which is a positive as the energy landscape shifts. Moreover, the Metropolitan New York region is a pretty good market to be in.</p>
<p>While the utility's 3.7% yield is more desirable than California Water's, it's toward the low-end of recent history, too. In fact, the yield has been as high as 5% and 6%.</p>
<p>But anything in the mid-4% to 5% range is probably a good opportunity. With four decades of hikes, you might want to initiate a small position just to get in the door while you wait for a more-compelling price to "back up the truck."</p>
<p>Nucor changes things up a bit, because this longtime dividend payer is one of the country's largest steelmakers. That sector has been down and out since the 2007 to 2009 recession. However, that hasn't stopped Nucor from continuing to increase its distribution year in and and year out.</p>
<p>The streak is now up to 43 years. And the yield, at nearly 3.2%, is fairly decent for the steel giant.</p>
<p>However, there's more to the Nucor story that you should know. For example, the company has lost money once in the last decade, while some peers have bled red ink through most of that span. AK Steel, for example, has lost money in seven of the past 10 years. U.S. Steelhas bled in six of 10. In other words, Nucor's record stands out in more ways than one.</p>
<p><a href="http://ycharts.com/companies/NUE" type="external">NUE</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>If you're looking for a regular dividend payer, Nucor is a worthwhile option even though it hails from a deeply out-of-favor industry. That said, there's some turnaround appeal here when the steel industry starts to see better days.</p>
<p>Another stock that cuts you a check each quarter is W.W. Grainger, which has a 45-year streak of annual dividend hikes. Grainger is a wholesaler, selling maintenance, repair, and operating supplies to industrial customers. It reaches customers through catalogs, stores, and online.</p>
<p>This is a relatively fragmented sector in which the company has long been able to expand via organic growth and acquisition. And it has the breadth of product to compete with anyone in the industry, selling more than 1.5 million products from around 4,800 suppliers/manufacturers.</p>
<p>Although the company's nearly 2.2% yield isn't huge, it distinguishes itself among the four companies here because its average annual dividend increase during the past decade has been more than 15%. So it can add a little extra dividend growth to your portfolio, while you can rely on other names to provide a little higher current income.</p>
<p>If you're looking to create a dividend "paycheck," you should be tightly focused on companies that have proven, over time, that they keep sending out the quarterly checks. You'll want a mix of industries, yields, and growth rates to round out your portfolio.</p>
<p>Utilities like California Water and Con Ed are great as a foundation because of their regulated operations and the basic necessity services they offer. Nucor is an out-of-favor company that just so happens to be a leader in its industry, which means there is some turnaround potential when steel markets pick up again. And Grainger is a great option for juicing the annual pay hike you get across your entire portfolio.</p>
<p>Even if you don't buy all four of these regular dividend payers, each is worth a deeper dive as you seek out stocks that cut you a check each and every quarter.</p>
<p>The article <a href="http://www.fool.com/investing/2016/06/11/4-stocks-that-cut-you-a-check-each-quarter.aspx" type="external">4 Stocks That Cut You a Check Each Quarter Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/ReubenGBrewer/info.aspx?source=eptfxblnk0000004" type="external">Reuben Brewer Opens a New Window.</a> owns shares of Nucor. The Motley Fool recommends Nucor. 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 nucor continue reading many income investors looking reliable dividend payers help fund daily living expenses front consistency vital put simply want companies cut check quarter good markets bad four companies boast four decades california water service group nyse cwt consolidated edison nyse ed nucor corp nyse nue ww grainger inc nyse gww water california go together like painfully long drought hasnt stopped california water services upping annual distribution 49 consecutive years thats right nearly five decades honest california one states diversified water utility works california water services parent company water companies namesake state washington new mexico hawaii provides regulated nonregulated water services roughly two million people across 100 communities although companys 24 yield nothing write home annual hikes 49 years yield lowerend trading range past decade means may want jump feet however looking steady quarterly check regular though modest increases california water services list get interested yield gets lowtomid 3 range advertisement bright lights big city lots electricity image source con edison consolidated edison probably best known con ed least metropolitan new york region serves provides electric services roughly 33 million customers gas services 11 million across new york city westchester county northern suburb city also operations orange rockland counties new york state even reaches tentacles parts new jersey pennsylvania company provides steam services within manhattan yes selling steam thing con ed upped distribution every year 42 years interestingly focus distribution power generation shielded somewhat electricity prices positive energy landscape shifts moreover metropolitan new york region pretty good market utilitys 37 yield desirable california waters toward lowend recent history fact yield high 5 6 anything mid4 5 range probably good opportunity four decades hikes might want initiate small position get door wait morecompelling price back truck nucor changes things bit longtime dividend payer one countrys largest steelmakers sector since 2007 2009 recession however hasnt stopped nucor continuing increase distribution year year streak 43 years yield nearly 32 fairly decent steel giant however theres nucor story know example company lost money last decade peers bled red ink span ak steel example lost money seven past 10 years us steelhas bled six 10 words nucors record stands ways one nue data ycharts opens new window youre looking regular dividend payer nucor worthwhile option even though hails deeply outoffavor industry said theres turnaround appeal steel industry starts see better days another stock cuts check quarter ww grainger 45year streak annual dividend hikes grainger wholesaler selling maintenance repair operating supplies industrial customers reaches customers catalogs stores online relatively fragmented sector company long able expand via organic growth acquisition breadth product compete anyone industry selling 15 million products around 4800 suppliersmanufacturers although companys nearly 22 yield isnt huge distinguishes among four companies average annual dividend increase past decade 15 add little extra dividend growth portfolio rely names provide little higher current income youre looking create dividend paycheck tightly focused companies proven time keep sending quarterly checks youll want mix industries yields growth rates round portfolio utilities like california water con ed great foundation regulated operations basic necessity services offer nucor outoffavor company happens leader industry means turnaround potential steel markets pick grainger great option juicing annual pay hike get across entire portfolio even dont buy four regular dividend payers worth deeper dive seek stocks cut check every quarter article 4 stocks cut check quarter opens new window originally appeared foolcom reuben brewer opens new window owns shares nucor motley fool recommends nucor 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 | 617 |
<p>The Latest on the idea in Congress of banning "bump stocks" like the device used by the Las Vegas shooter (all times EDT):</p>
<p>6:30 p.m.</p>
<p>Continue Reading Below</p>
<p>President Donald Trump says his administration is considering whether "bump stock" devices that allow semi-automatic rifles to perform more like fully automatic weapons should be banned in the wake of the Las Vegas massacre.</p>
<p>Trump says ahead of a dinner with senior military leaders at the White House Thursday evening, "We'll be looking into that over the next short period of time."</p>
<p>White House press secretary Sarah Huckabee Sanders said earlier Thursday that the president welcomed a review of U.S. policy on the devices, which were apparently used by the Las Vegas shooter to make his weapons more deadly.</p>
<p>The National Rifle Association has said the devices should be "subject to additional regulations." And House Speaker Paul Ryan says a ban is "clearly something we need to look into."</p>
<p>___</p>
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<p>6 p.m.</p>
<p>The National Rifle Association says "bump stock" devices that allow semi-automatic rifles to perform more like fully automatic weapons should be "subject to additional regulations."</p>
<p>White House press secretary Sarah Huckabee Sanders is praising the announcement, saying, "We welcome that and a conversation on that."</p>
<p>House Speaker Paul Ryan is adding his support, as are other top Republicans.</p>
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<p>2:32 p.m.</p>
<p>The National Rifle Association says the "bump stocks" device that the Las Vegas shooter used to turn semi-automatic rifles into fully automated weapons should be "subject to additional regulations."</p>
<p>In a statement on Thursday, the NRA says the Bureau of Alcohol, Tobacco, Firearms and Explosives should immediately review whether these devices comply with federal law.</p>
<p>The organization which holds a powerful sway over members of Congress dismissed some of the initial response from lawmakers who have pressed for more gun control.</p>
<p>Said the NRA: "Banning guns from law-abiding Americans based on the criminal act of a madman will do nothing to prevent future attacks."</p>
<p>The statement came from NRA leaders Wayne LaPierre and Chris Cox.</p>
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<p>2:30 p.m.</p>
<p>The White House says President Donald Trump welcomes a review of U.S. policy on so-called bump stock devices that legally make semi-automatic rifles into faster-firing automatic weapons.</p>
<p>Presidential spokeswoman Sarah Huckabee Sanders told reporters Thursday that "we're certainly open to having that conversation."</p>
<p>Her remarks are part of a growing bipartisan chorus of calls to take a step in the direction of regulating guns in the wake of the Las Vegas massacre. The killer in Las Vegas apparently used the legal bump stock devices on legal rifles, essentially converting them into automatic weapons, which are banned. That allowed him to spray gunfire into the crowd below much more quickly. At least 58 people were killed and hundreds were injured when he opened fire on an outdoor country music festival.</p>
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<p>12:25 p.m.</p>
<p>The top Republican in the House says he's open to considering a possible ban on "bump stocks," the device the shooter in Las Vegas apparently used to make semi-automatic rifles perform more like fully automatic weapons.</p>
<p>Speaker Paul Ryan said in an interview with MSNBC that aired Thursday it's "clearly something we need to look into."</p>
<p>The comments from lawmakers including No. 2 Senate Republican John Cornyn of Texas mark a surprising departure from the GOP's general antipathy to gun regulations of any kind.</p>
<p>The devices are known as "bump stocks," among other names. They're legal and originally were intended to help people with limited hand mobility fire a semi-automatic without the individual trigger pulls required.</p>
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<p>4 a.m.</p>
<p>Senior congressional Republicans say they are open to considering legislation banning "bump stocks" like the shooter in Las Vegas apparently used to make semi-automatic rifles perform more like fully automatic weapons.</p>
<p>The Wednesday comments from lawmakers including the No. 2 Senate Republican, John Cornyn of Texas, marked a surprising departure from GOP lawmakers' general antipathy to gun regulations of any kind. But they were far from a guarantee of a path forward for the new legislation by California Sen. Dianne Feinstein, especially with Majority Leader Mitch McConnell and House Speaker Paul Ryan making clear their priorities are elsewhere.</p>
<p>Cornyn said as a hunter and sportsman he doesn't understand the use of the bump stock and wants to have a hearing on it.</p>
<p>House Speaker Paul Ryan added his support, as have other top Republicans.</p>
<p>"Obviously we need to look at how we can tighten up the compliance with this law so that fully automatic weapons are banned," the Wisconsin Republican told reporters at an event in Chestertown, Maryland.</p>
<p>It was a rare concession for all concerned. The nation's largest gun lobby and most Republicans have stood firmly in recent years against stricter gun regulations, even as one mass shooting after another horrified the nation. They blocked background check legislation after the shooting deaths of elementary school children in Connecticut in 2012, and took no action despite intense pressure from Democrats, including a House floor sit-in, after last year's bloodbath at the Pulse nightclub in Orlando, Florida. Even gunfire that left House Majority Whip Steve Scalise near death at a baseball practice earlier this year didn't change the equation.</p>
<p>But this time, the deadliest mass shooting in modern U.S. history, combined with the opportunity to back a limited change that could potentially be accomplished administratively, spurred a shift.</p>
<p>Robert Spitzer, chairman of the political science department at SUNY Cortland, who watches the gun industry closely, said he was surprised.</p>
<p>Still, he said, "it's a pretty small concession in the realm of gun stuff. We're not talking about banning assault weapons here. It's a very specific accessory."</p>
<p>The device, which retails for around $200, is not known among gun dealers as an item that is hugely popular. It was created ostensibly to help people with disabilities more easily fire AK- and AR-platform long guns.</p>
<p>The device causes the gun to buck back and forth, repeatedly "bumping" the trigger against the shooter's finger. Technically, that means the finger is pulling the trigger for each round fired, keeping the weapon a legal semi-automatic. Because it creates a significant rocking motion it also means that the gun is "spraying" bullets and it's difficult to hit a target.</p>
<p>The stocks have been around for less than a decade. Many Capitol Hill Republicans said this week they had never even heard of them before the shooting in Las Vegas. The Bureau of Alcohol, Tobacco and Firearms during the Obama administration gave its seal of approval to their sale in 2010 after concluding that they did not violate federal law.</p>
<p>Now, some Republicans appear inclined to blame the Obama administration for allowing their use in the first place.</p>
<p>"We have to get more education on what they are," Ryan said. "Was it a regulatory misstep by ATF some years ago?"</p>
<p>The issue of bump stocks came up aboard Air Force One as President Donald Trump traveled back from visiting Las Vegas on Wednesday, according to GOP Rep. Mark Amodei of Nevada, who was on board and said Trump sounded open to a change.</p>
<p>But Democrats insisted that a regulatory change by the ATF would not be sufficient.</p>
<p>"Federal regulations won't be able to fully close this loophole," said Sen. Dianne Feinstein of California, who introduced a bill this week to ban the devices. "Legislation would make crystal clear that Congress is banning all devices that allow a weapon to achieve an automatic rate of fire, regardless of how a weapon is altered."</p>
<p>It was uncertain whether Congress would go that far.</p>
<p>At the same time, the attention on the devices was already causing an industry response. Slide Fire, the leading maker of bump stocks, suspended sales of the items. In a post on its website, the company said it was not taking any new orders "to provide the best service with those already placed."</p>
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<p>Associated Press writer Lisa Marie Pane contributed from Atlanta.</p> | true | 0 | latest idea congress banning bump stocks like device used las vegas shooter times edt 630 pm continue reading president donald trump says administration considering whether bump stock devices allow semiautomatic rifles perform like fully automatic weapons banned wake las vegas massacre trump says ahead dinner senior military leaders white house thursday evening well looking next short period time white house press secretary sarah huckabee sanders said earlier thursday president welcomed review us policy devices apparently used las vegas shooter make weapons deadly national rifle association said devices subject additional regulations house speaker paul ryan says ban clearly something need look ___ advertisement 6 pm national rifle association says bump stock devices allow semiautomatic rifles perform like fully automatic weapons subject additional regulations white house press secretary sarah huckabee sanders praising announcement saying welcome conversation house speaker paul ryan adding support top republicans ___ 232 pm national rifle association says bump stocks device las vegas shooter used turn semiautomatic rifles fully automated weapons subject additional regulations statement thursday nra says bureau alcohol tobacco firearms explosives immediately review whether devices comply federal law organization holds powerful sway members congress dismissed initial response lawmakers pressed gun control said nra banning guns lawabiding americans based criminal act madman nothing prevent future attacks statement came nra leaders wayne lapierre chris cox ____ 230 pm white house says president donald trump welcomes review us policy socalled bump stock devices legally make semiautomatic rifles fasterfiring automatic weapons presidential spokeswoman sarah huckabee sanders told reporters thursday certainly open conversation remarks part growing bipartisan chorus calls take step direction regulating guns wake las vegas massacre killer las vegas apparently used legal bump stock devices legal rifles essentially converting automatic weapons banned allowed spray gunfire crowd much quickly least 58 people killed hundreds injured opened fire outdoor country music festival ____ 1225 pm top republican house says hes open considering possible ban bump stocks device shooter las vegas apparently used make semiautomatic rifles perform like fully automatic weapons speaker paul ryan said interview msnbc aired thursday clearly something need look comments lawmakers including 2 senate republican john cornyn texas mark surprising departure gops general antipathy gun regulations kind devices known bump stocks among names theyre legal originally intended help people limited hand mobility fire semiautomatic without individual trigger pulls required ___ 4 senior congressional republicans say open considering legislation banning bump stocks like shooter las vegas apparently used make semiautomatic rifles perform like fully automatic weapons wednesday comments lawmakers including 2 senate republican john cornyn texas marked surprising departure gop lawmakers general antipathy gun regulations kind far guarantee path forward new legislation california sen dianne feinstein especially majority leader mitch mcconnell house speaker paul ryan making clear priorities elsewhere cornyn said hunter sportsman doesnt understand use bump stock wants hearing house speaker paul ryan added support top republicans obviously need look tighten compliance law fully automatic weapons banned wisconsin republican told reporters event chestertown maryland rare concession concerned nations largest gun lobby republicans stood firmly recent years stricter gun regulations even one mass shooting another horrified nation blocked background check legislation shooting deaths elementary school children connecticut 2012 took action despite intense pressure democrats including house floor sitin last years bloodbath pulse nightclub orlando florida even gunfire left house majority whip steve scalise near death baseball practice earlier year didnt change equation time deadliest mass shooting modern us history combined opportunity back limited change could potentially accomplished administratively spurred shift robert spitzer chairman political science department suny cortland watches gun industry closely said surprised still said pretty small concession realm gun stuff talking banning assault weapons specific accessory device retails around 200 known among gun dealers item hugely popular created ostensibly help people disabilities easily fire ak arplatform long guns device causes gun buck back forth repeatedly bumping trigger shooters finger technically means finger pulling trigger round fired keeping weapon legal semiautomatic creates significant rocking motion also means gun spraying bullets difficult hit target stocks around less decade many capitol hill republicans said week never even heard shooting las vegas bureau alcohol tobacco firearms obama administration gave seal approval sale 2010 concluding violate federal law republicans appear inclined blame obama administration allowing use first place get education ryan said regulatory misstep atf years ago issue bump stocks came aboard air force one president donald trump traveled back visiting las vegas wednesday according gop rep mark amodei nevada board said trump sounded open change democrats insisted regulatory change atf would sufficient federal regulations wont able fully close loophole said sen dianne feinstein california introduced bill week ban devices legislation would make crystal clear congress banning devices allow weapon achieve automatic rate fire regardless weapon altered uncertain whether congress would go far time attention devices already causing industry response slide fire leading maker bump stocks suspended sales items post website company said taking new orders provide best service already placed ___ associated press writer lisa marie pane contributed atlanta | 817 |
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<p>AT&amp;T is in advanced talks to acquire Time Warner, according to the Wall Street Journal. While any potential deal would likely face regulatory hurdles, if the two combined it would be the biggest merger of content and distribution in the media and telecom industries since Comcast’s (NYSE:CMCSA) NBCUniversal buy back in 2011.</p>
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<p>Aspects of a potential combination could make sense on a number of levels, said Angelo Zino, senior equity analyst at CFRA. He pointed to a growing number of people choosing to stream video on mobile devices. Companies like AT&amp;T and Verizon (NYSE:VZ) see that as a tremendous opportunity for growth as options for expansion in their core businesses of wireless communication have arguably “dried up.”</p>
<p>“This is a strategy both of these companies are trying to pursue. They see some of the major trends and realize the core business is one where they’re not viewed as a growth company, and it’s a very commoditized industry. Becoming more of a media giant is what these companies want to do,” Zino said.</p>
<p>In that effort, AT&amp;T last year snapped up satellite company DirecTV for $48.5 billion in the biggest media merger of the year. It allowed the combined company to surpass Comcast as the leader in television distribution, according to the New York Times. The idea behind AT&amp;T’s purported Time Warner takeover is similar.</p>
<p>“AT&amp;T is looking for other avenues for growth,” Zino said, explaining a move earlier this yea in which the company announced an over-the-top streaming service dubbed DirecTV Now, set to launch by the end of the year.</p>
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<p>"Now, they’re at a point where you look at what they could do, think content has been something [it] has openly talked about – acquiring it over time," he continued.</p>
<p>As a case study, Zino compared AT&amp;T’s reported interest in Time Warner to the way Netflix (NASDAQ:NFLX) has been able to grow its business. The video-streaming giant began as an online video-rental competitor to the now defunct Blockbuster. Over the last several years, though, the company has grown to include original-series content it shoots and produces, to a portfolio of streaming videos and TV shows.</p>
<p>Mobile is an opportunity, Zino argued, that AT&amp;T likely believes could get it to the next level in a quickly-evolving industry.</p>
<p>“About half of all data usage on mobile networks comes from video streaming, and the expectation is that by 2020, about 75% will come from video streaming,” he said. “When you look at what’s going on – not to mention all the cord cutters – you look at the trend in mobile and where the data usage is, it’s coming from streaming video.”</p>
<p>If AT&amp;T and Time Warner announce a deal in the coming days, whether it is finalized depends on more than just business synergies. A look back at the recent history of similar deals is perhaps foreboding. The U.S. government blocked a proposed merger between AT&amp;T and rival T-Mobile (NYSE:TMUS) back in 2014 that would have created the largest U.S. wireless company. In the same year, , 21st Century Fox, the parent company of the FOX Business Network, backed away from a bid for Time Warner after the company said it wasn’t interested in a combination and would rely on its own organic growth.&#160; And, earlier this year, Comcast and Time Warner Cable nixed their $45 billion agreement after regulators resisted the tie up.</p>
<p>Despite a “highly leveraged” AT&amp;T balance sheet, Zino said the company, even after its DirecTV buy, would still have the capability to get the deal done from a financial perspective. To illustrate the point, he described similar actions by Verizon earlier this year when it sold a number of its Fios assets to Frontier Communications (NASDAQ:FTR), and last year sold tower assets to American Tower Corporation (NYSE:AMT).</p>
<p>For AT&amp;T, those assets could come in the form of the company's U-verse hardline assets or towers.</p>
<p>“If need be, they can start selling off and using that to pay down debt if they get overly leveraged. Given the free cash flow and their enormous amount of assets, this is a deal that, at the end of the day, won’t be stopped because of financial constraints or lack of access to capital,” Zino said.</p>
<p>As for clearing regulatory hurdles, that could be another obstacle altogether.</p>
<p>Since the two companies have fairly different core businesses, it likely wouldn’t get opposition from government regulators looking to prevent a monopoly situation, Zino said. It would be more of a vertical integration —a distributor buying a content- provider – than a horizontal one.</p>
<p>“Of course, it’s a sizable transaction, and it’s two of the largest companies out there,” he said. “It wouldn’t be as big of a hurdle as the Comcast deal a couple years ago. It could get done from a regulatory perspective; it just might be drawn out.”</p>
<p>Time Warner has a market capitalization of $69.66 billion, while AT&amp;T is valued at $230.76 billion – no potential deal value for the tie-up has been floated.</p>
<p>Wall Street cheered the report of a potential deal. Shares of the media conglomerate rallied nearly 10% on the session, hitting a 15-year high,&#160; as news of the potential transaction helped buoy other media shares including Discovery Communications (NYSE:DISCA), Viacom (NYSE:VIAB), CBS (NYSE:CBS), and 21st Century Fox (NYSE:FOXA), the parent company of the FOX Business Network.</p> | true | 0 | atampt advanced talks acquire time warner according wall street journal potential deal would likely face regulatory hurdles two combined would biggest merger content distribution media telecom industries since comcasts nysecmcsa nbcuniversal buy back 2011 continue reading aspects potential combination could make sense number levels said angelo zino senior equity analyst cfra pointed growing number people choosing stream video mobile devices companies like atampt verizon nysevz see tremendous opportunity growth options expansion core businesses wireless communication arguably dried strategy companies trying pursue see major trends realize core business one theyre viewed growth company commoditized industry becoming media giant companies want zino said effort atampt last year snapped satellite company directv 485 billion biggest media merger year allowed combined company surpass comcast leader television distribution according new york times idea behind atampts purported time warner takeover similar atampt looking avenues growth zino said explaining move earlier yea company announced overthetop streaming service dubbed directv set launch end year advertisement theyre point look could think content something openly talked acquiring time continued case study zino compared atampts reported interest time warner way netflix nasdaqnflx able grow business videostreaming giant began online videorental competitor defunct blockbuster last several years though company grown include originalseries content shoots produces portfolio streaming videos tv shows mobile opportunity zino argued atampt likely believes could get next level quicklyevolving industry half data usage mobile networks comes video streaming expectation 2020 75 come video streaming said look whats going mention cord cutters look trend mobile data usage coming streaming video atampt time warner announce deal coming days whether finalized depends business synergies look back recent history similar deals perhaps foreboding us government blocked proposed merger atampt rival tmobile nysetmus back 2014 would created largest us wireless company year 21st century fox parent company fox business network backed away bid time warner company said wasnt interested combination would rely organic growth160 earlier year comcast time warner cable nixed 45 billion agreement regulators resisted tie despite highly leveraged atampt balance sheet zino said company even directv buy would still capability get deal done financial perspective illustrate point described similar actions verizon earlier year sold number fios assets frontier communications nasdaqftr last year sold tower assets american tower corporation nyseamt atampt assets could come form companys uverse hardline assets towers need start selling using pay debt get overly leveraged given free cash flow enormous amount assets deal end day wont stopped financial constraints lack access capital zino said clearing regulatory hurdles could another obstacle altogether since two companies fairly different core businesses likely wouldnt get opposition government regulators looking prevent monopoly situation zino said would vertical integration distributor buying content provider horizontal one course sizable transaction two largest companies said wouldnt big hurdle comcast deal couple years ago could get done regulatory perspective might drawn time warner market capitalization 6966 billion atampt valued 23076 billion potential deal value tieup floated wall street cheered report potential deal shares media conglomerate rallied nearly 10 session hitting 15year high160 news potential transaction helped buoy media shares including discovery communications nysedisca viacom nyseviab cbs nysecbs 21st century fox nysefoxa parent company fox business network | 517 |
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<p>Did Universal Orlando just hit the wall? Image source: Rick Munarriz.</p>
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<p>We're knee deep in Universal Orlando's Passholder Appreciation Days, a six-week event where those with annual passes are treated to discounts on hotel stays, CityWalk attractions, and other perks through the end of September. It's not the only thing that's appreciating.</p>
<p>Universal Orlando parentComcast(NASDAQ: CMCSA)is juicing up rates on all three of its annual pass tiers Wednesday morning. It's also introducing a fourth entry-level offering. AsOrlando Sentinelreporter Sandra Pedicini correctly predicted on Monday after an inadvertent post on the official Universal Orlando blog leaked price-less details of the plan changes, it will cost quite a bit more to be a park regular now.</p>
<p>The existing Power, Preferred, and Premiere passes are going up 36%, 13%, and 10%, respectively for Florida residents making new purchases, with similar increases for the slightly higher prices offered to out-of-state passholders. The 36% spike for what used to be the entry-level Power pass may seem outrageous, but it's not a comparable annual ticket anymore. Universal Orlando is eliminating summertime blackout dates and is discounting parking by half, a $10 price break on every visit. The new Seasonal pass is the closest match to what the Power pass used to be, even if it tightens up the blackout date restrictions. It is 11% more expensive than the old Power pass.</p>
<p>Comcast is throwing in a new perk for its Preferred and Premiere passholders. They can join resort hotel guests in entering one of the two theme parks an hour early, though Preferred have some blackout dates on that benefit. Ultimately it's still an increase, and that's something that has to leave Disney (NYSE: DIS) hoping that it will get the last laugh and SeaWorld Entertainment (NYSE: SEAS) wondering if this is its chance to cash in as the potentially better value proposition for locals.</p>
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<p>Comcast's shake up at Universal Orlando is not unique. Larger theme park rival Disney World <a href="http://www.fool.com/investing/general/2015/10/05/did-disneyland-and-disney-world-go-too-far.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">did it Opens a New Window.</a>late last year, shaking up its annual pass tiers and also introducing double-digit percentage price increases. It didn't go over too well, as you can probably imagine. Diehard fans don't like to pay more.</p>
<p>The whining and social media outrage is usually trumped by ascending turnstile clicks, but it didn't happen this time. Disney World's attendance has posted year-over-year declines in each of the past two quarters. Dramatic increases for its admissions and blackout date restrictions have taken a toll at the world's busiest theme park resort. Universal Orlando is just as vulnerable now for a potential slide.</p>
<p>The wildcard here is SeaWorld Orlando. It hasn't had the same kind of pricing leverage as Universal Orlando and Disney World, largely as a result of the backlash following 2013's Blackfish documentary. However, attendance across all of SeaWorld's parks increased slightly in 2015. It's also trending higher through the first half of 2016 outside of its Florida attractions. SeaWorld Orlando is still in a funk, but this could be a dinner bell.</p>
<p>SeaWorld Orlando is the parent company's most visited park, and it also has the most to gain from a potential turnaround. It added a bar-raising roller coaster in June, and later this year it plans to announce even more new attractions. It told analysts during its second quarter earnings call that it has "two really good new things" and a third thing that's a positive remarket of an existing attraction that it will reveal during early November's third quarter call.</p>
<p>No matter where you stand on the orca debate, both sides tend to agree that adding more rides and de-emphasizing the killer whale performances is in the park's best interest. SeaWorld Orlando annual passes start at $168 without blackout dates and includes parking and access to a passholder lounge with free soft drinks. Even the three-park pass that includes the Aquatica water park and the nearby Busch Gardens Tampa is $252, less than even the most restrictive Universal Orlando Seasonal pass.</p>
<p>If SeaWorld holds firm on pricing this could be a golden opportunity to establish itself as the locals-friendly theme park operator. SeaWorld blames most of this year's shortfall at SeaWorld Orlando on the dramatic drop in Brazilian guests, as socioeconomic struggles in that country weigh on travel trends. The recent sharp decline in Latin American tourists in general has probably weighed on Disney World's weakness.</p>
<p>The slide in foreign visitors places more of an emphasis on attracting locals. That became harder for Disney World last October. It's going to become more of a challenge for Universal Orlando now.</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/TMFBreakerRick/info.aspx" type="external">Rick Munarriz Opens a New Window.</a> owns shares of SeaWorld Entertainment and Walt Disney. The Motley Fool owns shares of and recommends Walt Disney. 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 | universal orlando hit wall image source rick munarriz continue reading knee deep universal orlandos passholder appreciation days sixweek event annual passes treated discounts hotel stays citywalk attractions perks end september thing thats appreciating universal orlando parentcomcastnasdaq cmcsais juicing rates three annual pass tiers wednesday morning also introducing fourth entrylevel offering asorlando sentinelreporter sandra pedicini correctly predicted monday inadvertent post official universal orlando blog leaked priceless details plan changes cost quite bit park regular existing power preferred premiere passes going 36 13 10 respectively florida residents making new purchases similar increases slightly higher prices offered outofstate passholders 36 spike used entrylevel power pass may seem outrageous comparable annual ticket anymore universal orlando eliminating summertime blackout dates discounting parking half 10 price break every visit new seasonal pass closest match power pass used even tightens blackout date restrictions 11 expensive old power pass comcast throwing new perk preferred premiere passholders join resort hotel guests entering one two theme parks hour early though preferred blackout dates benefit ultimately still increase thats something leave disney nyse dis hoping get last laugh seaworld entertainment nyse seas wondering chance cash potentially better value proposition locals advertisement comcasts shake universal orlando unique larger theme park rival disney world opens new windowlate last year shaking annual pass tiers also introducing doubledigit percentage price increases didnt go well probably imagine diehard fans dont like pay whining social media outrage usually trumped ascending turnstile clicks didnt happen time disney worlds attendance posted yearoveryear declines past two quarters dramatic increases admissions blackout date restrictions taken toll worlds busiest theme park resort universal orlando vulnerable potential slide wildcard seaworld orlando hasnt kind pricing leverage universal orlando disney world largely result backlash following 2013s blackfish documentary however attendance across seaworlds parks increased slightly 2015 also trending higher first half 2016 outside florida attractions seaworld orlando still funk could dinner bell seaworld orlando parent companys visited park also gain potential turnaround added barraising roller coaster june later year plans announce even new attractions told analysts second quarter earnings call two really good new things third thing thats positive remarket existing attraction reveal early novembers third quarter call matter stand orca debate sides tend agree adding rides deemphasizing killer whale performances parks best interest seaworld orlando annual passes start 168 without blackout dates includes parking access passholder lounge free soft drinks even threepark pass includes aquatica water park nearby busch gardens tampa 252 less even restrictive universal orlando seasonal pass seaworld holds firm pricing could golden opportunity establish localsfriendly theme park operator seaworld blames years shortfall seaworld orlando dramatic drop brazilian guests socioeconomic struggles country weigh travel trends recent sharp decline latin american tourists general probably weighed disney worlds weakness slide foreign visitors places emphasis attracting locals became harder disney world last october going become challenge universal orlando 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 rick munarriz opens new window owns shares seaworld entertainment walt disney motley fool owns shares recommends walt disney 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 | 557 |
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<p>Image source: Getty Images.</p>
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<p>Golfers and income-seeking investors know how important it is to hit the "sweet spot" -- and for the latter group, that means the perfect balance of a decent current dividend yield and strong fundamentals that will allow that payout to grow. I can't help you perfect your swing, but I can help you find some stocks in the healthcare sector that hit the sweet spot.</p>
<p>Shares of these three stocks offer yields above 2% and are well positioned to continue boosting their payments.Let me show you how these healthcare stocks can help you spend more time enjoying your favorite leisure activities and less time worrying about your retirement income goals.</p>
<p>Blue-chip biotech Amgen (NASDAQ: AMGN)began paying a modest quarterly dividend of just $0.28 in 2011 and has been raising the distribution at a blazing pace. Over the past four years it has increased its payout at a stunning 29% annual growth rate. The current quarterly dividend of $1 per share offers a 2.3% yield, which isn't a bad place to start.</p>
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<p>Past performance doesn't guarantee future results, but if Amgen were to continue raising its distribution at the same pace as it has for the past four years, you'd enjoy a double-digit yield on your initial investment in just six short years.Despite big raises in recent years, the percentage of profits required to make Amgen's payments -- i.e., its payout ratio -- is a cozy 36.3%. Payout ratios around 60% to 70% are generally considered sustainable, which gives Amgen plenty of room for further increases.</p>
<p>Image source: Amgen.</p>
<p>Amgen sports a diverse lineup of products, seven of which finished the first half on pace to pass $1 billion in sales this year. In September alone the company took several strides toward expanding its list of <a href="http://www.fool.com/knowledge-center/what-is-a-blockbuster-drug.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">blockbuster drugs Opens a New Window.</a>, including FDA approval of Amjevita, the first <a href="http://www.fool.com/knowledge-center/what-is-a-biosimilar.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">biosimilar Opens a New Window.</a> approved in the U.S. that references AbbVie's Humira --the world's best-selling drug.</p>
<p>End payers are increasingly insistent on proof of actual benefits for pricey treatments, and Amgen delivered a couple of wins in this respect. The company announced data showing that giving its next-generation cholesterol-lowering drug, Repatha, to patients already on statins significantly lowered blockages in their coronary arteries.It also showed that its osteoperosis candidate, romosozumab, lowered patients' risk of suffering a second spine fracture by a stunning 73% over 12 months.</p>
<p>Cardinal Health (NYSE: CAH) wrapped up its fiscal year in June, and with annual revenue of $121.5 billion, it's one of the most important healthcare companies you've probably never heard of. As one of the top three U.S. distributors, it enjoys economies of scale that smaller competitors can only dream of, and a joint pharmaceutical sourcing venture with retail giant CVS Healthstrengthens its position even further.</p>
<p>In May, Cardinal Health upped its dividend for the 20th year in a row.At the stock's recent price, the 16% bump to an annualized $1.80 puts its dividend yield at 2.3%, and even bigger raises could be on the way. In fiscal 2016, the company used just 20.4% of the $2.5 billion of the free cash flow it generated to make payments. That leaves plenty of runway for more big raises in the years ahead.</p>
<p>Gilead Sciences (NASDAQ: GILD) made its first dividend payment last June, and this year it cautiously raised the distribution 9% to an annualized $1.88 per share for a yield of about 2.3% at recent prices. Rather than committing to a big dividend hike, the company has been been using the <a href="http://www.fool.com/investing/2016/08/09/gilead-sciences-inc-stock-in-3-charts.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">truckloads Opens a New Window.</a> of free cash flow it generates to repurchase its own shares at bargain-bin prices.</p>
<p>At just 7.1 times trailing earnings, Gilead Sciences is one of the <a href="http://www.fool.com/investing/2016/09/18/how-risky-is-gilead-sciences-inc.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">least risky Opens a New Window.</a> drugmakers on the market, and that safety extends to its distribution. In the first half of the year, the company used just 14.3% of the $8.47 billion in free cash flow it generated to make dividend payments. That should make boosting payouts in the years ahead a breeze, even if Gilead's growth stalls.</p>
<p>Image source: Gilead Sciences.</p>
<p>Luckily, its latest hepatitis C antiviral to earn approval, Epclusa, should help the company continue growing. It's the only treatment option for all patients with the virus that doesn't require adding poorly tolerated ribavirin to the dosing regimen (with the exception of those with advanced cirrhosis).There are an estimated 180 million people infected with hepatitis C around the globe, which gives Gilead's best-in-class treatment, and in turn its dividend, plenty of room to grow.</p>
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<p><a href="http://my.fool.com/profile/crenauer/info.aspx" type="external">Cory Renauer Opens a New Window.</a> owns shares of Gilead Sciences. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool has the following options: short October 2016 $85 calls on Gilead Sciences. The Motley Fool recommends CVS Health. 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 golfers incomeseeking investors know important hit sweet spot latter group means perfect balance decent current dividend yield strong fundamentals allow payout grow cant help perfect swing help find stocks healthcare sector hit sweet spot shares three stocks offer yields 2 well positioned continue boosting paymentslet show healthcare stocks help spend time enjoying favorite leisure activities less time worrying retirement income goals bluechip biotech amgen nasdaq amgnbegan paying modest quarterly dividend 028 2011 raising distribution blazing pace past four years increased payout stunning 29 annual growth rate current quarterly dividend 1 per share offers 23 yield isnt bad place start advertisement past performance doesnt guarantee future results amgen continue raising distribution pace past four years youd enjoy doubledigit yield initial investment six short yearsdespite big raises recent years percentage profits required make amgens payments ie payout ratio cozy 363 payout ratios around 60 70 generally considered sustainable gives amgen plenty room increases image source amgen amgen sports diverse lineup products seven finished first half pace pass 1 billion sales year september alone company took several strides toward expanding list blockbuster drugs opens new window including fda approval amjevita first biosimilar opens new window approved us references abbvies humira worlds bestselling drug end payers increasingly insistent proof actual benefits pricey treatments amgen delivered couple wins respect company announced data showing giving nextgeneration cholesterollowering drug repatha patients already statins significantly lowered blockages coronary arteriesit also showed osteoperosis candidate romosozumab lowered patients risk suffering second spine fracture stunning 73 12 months cardinal health nyse cah wrapped fiscal year june annual revenue 1215 billion one important healthcare companies youve probably never heard one top three us distributors enjoys economies scale smaller competitors dream joint pharmaceutical sourcing venture retail giant cvs healthstrengthens position even may cardinal health upped dividend 20th year rowat stocks recent price 16 bump annualized 180 puts dividend yield 23 even bigger raises could way fiscal 2016 company used 204 25 billion free cash flow generated make payments leaves plenty runway big raises years ahead gilead sciences nasdaq gild made first dividend payment last june year cautiously raised distribution 9 annualized 188 per share yield 23 recent prices rather committing big dividend hike company using truckloads opens new window free cash flow generates repurchase shares bargainbin prices 71 times trailing earnings gilead sciences one least risky opens new window drugmakers market safety extends distribution first half year company used 143 847 billion free cash flow generated make dividend payments make boosting payouts years ahead breeze even gileads growth stalls image source gilead sciences luckily latest hepatitis c antiviral earn approval epclusa help company continue growing treatment option patients virus doesnt require adding poorly tolerated ribavirin dosing regimen exception advanced cirrhosisthere estimated 180 million people infected hepatitis c around globe gives gileads bestinclass treatment turn dividend plenty room grow 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 cory renauer opens new window owns shares gilead sciences motley fool owns shares recommends gilead sciences motley fool following options short october 2016 85 calls gilead sciences motley fool recommends cvs health 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 | 579 |
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<p>How would you feel if your employer wanted to <a href="http://www.bankrate.com/life-insurance/?pid=p:foxbz" type="external">insure your life Opens a New Window.</a> -- with the company as sole beneficiary? What if this has already been done, without your knowledge or consent?</p>
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<p>Such practices are not only legal, they're commonplace, despite attempts in recent years to curb the more flagrant abuses of what's formally known as corporate-owned life insurance, or COLI, and informally as "dead peasant" insurance.</p>
<p>"Typically, the range of emotions I almost always see when people learn about this is disbelief to extreme anger," says Mike Myers, an attorney with the McClanahan Myers Espey law firm in Houston, who has tried 18 COLI class-action lawsuits that resulted in settlements. "They usually don't take the attitude of, 'What's the harm?'"</p>
<p>What exactly is the harm?</p>
<p><a href="http://www.bankrate.com/compare-rates.aspx?pid=p:foxbz" type="external">Find the best life insurance rates in your area. Opens a New Window.</a></p>
<p>A 'Moral Hazard'</p>
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<p>"It creates a moral hazard," says J. Robert Hunter, director of insurance for the Consumer Federation of America. "The employer might think, 'Hmm, I'm starting to lose money; maybe I should knock off a few insured employees.'</p>
<p>"Obviously, Wal-Mart wouldn't do that," he adds. "But not everybody is Wal-Mart."</p>
<p>In 2011, police in Ohio arrested the owner of an oil-change business and charged him with trying to hire a hit man to kill a former employee to collect on a $250,000 COLI policy, according to The Columbus Dispatch.</p>
<p>While such cases are rare, it's little wonder that the insurance earned the pejorative "dead peasant" nickname.</p>
<p>Over the years, hundreds of companies are believed to have been named as beneficiaries in the deaths of current or former employees. Myers' firm lists more than 200, including many familiar brand names.</p>
<p>The Wall Street Journal has reported that even major life insurance companies have held dead peasant policies on hundreds of their workers.</p>
<p>The History</p>
<p>How did dead peasant insurance come about? Banks and large companies originally used corporate-owned life insurance as a tax-advantaged way to fund employee pension programs and hedge against their financial loss in the untimely death of a top executive, a practice known as "key man" insurance.</p>
<p>When corporations began pumping up those key-person policies beyond reason, then borrowing against them to enjoy huge interest write-offs, the IRS cracked down in 1986 by capping the amount of deductible interest at $50,000 per policy.</p>
<p>"That's where it got out of control," says Myers. "Because then the insurance entrepreneurs said, 'Well, if the limit is now $50,000, instead of having two or three large policies, let's have 10,000 or 20,000 smaller ones and cover the whole company."</p>
<p>Further Reforms</p>
<p>In the Pension Protection Act of 2006, Congress further restricted dead peasant programs by adopting best practices for new corporate-owned life insurance policies. These require companies to:</p>
<p>While companies can ignore the best practices, Hunter says they'll likely forfeit some of the COLI tax advantages, including tax-free death benefits, if they do.</p>
<p>"I think it's still going on," he says. "I would have opted for tougher criteria."</p>
<p>Failing the 'Insurable Interest' Test?</p>
<p>Myers says dead peasant policies violate one of the tenets of insurance: the concept that a life insurance policyholder or beneficiary should have an "insurable interest" in the insured. Simply put, individuals or companies have an insurable interest in you if they benefit financially from your living and would suffer from your death.</p>
<p>"Throughout history, until relatively recently, insurable interest has been defined as close blood relatives, key employees and debtors up to the amount of debt, and that's it," he says.</p>
<p>Hunter agrees that dead peasant policies fail the insurable interest test. "If a very low-level worker dies, there is usually someone to replace them and it doesn't really impact the entire corporate structure," he says. "It puts no financial strain on the organization."</p>
<p>Employees Might Not Mind</p>
<p>But Peter Kochenburger, an insurance law professor at the University of Connecticut School of Law, says even that tenet has been open to interpretation.</p>
<p>"Insurable interest has been forever modified by state law," he says. "Some states have allowed that an employer has an insurable interest in any employee, regardless of whether they're a key man or not."</p>
<p>Kochenburger says some employees may have no objection to being an insured commodity.</p>
<p>"The average guy may think, 'So what? My employer is probably doing it because it's a cheaper way to fund employee benefits, so I sort of benefit from that,'" he says.</p>
<p>But Myers says that's a faulty assumption at best.</p>
<p>Does it Really Help Pensions?</p>
<p>"Companies claim they're not the beneficiaries, it's the employee pension fund," Myers says. "But I've never seen a company have a dedicated account for the receipt of these policy benefits that is held exclusively for the benefit plan."</p>
<p>He adds that the benefit funds are typically in the soup of the company's general treasury. "Once that happens, how do you distinguish between what you got from dead employees from what you got from selling inventory or tax refunds or whatever?" he asks.</p>
<p>What's his solution to potential dead peasant insurance excesses?</p>
<p>"Strip away the tax advantage on policies insuring the lives of anyone on whom there is no insurable interest," Myers says. "If we can go back to traditional insurable interests -- key man, close relatives and debtors to the amount of debt -- I think we'd be fine."</p>
<p>Copyright 2014, Bankrate Inc.</p> | true | 0 | would feel employer wanted insure life opens new window company sole beneficiary already done without knowledge consent continue reading practices legal theyre commonplace despite attempts recent years curb flagrant abuses whats formally known corporateowned life insurance coli informally dead peasant insurance typically range emotions almost always see people learn disbelief extreme anger says mike myers attorney mcclanahan myers espey law firm houston tried 18 coli classaction lawsuits resulted settlements usually dont take attitude whats harm exactly harm find best life insurance rates area opens new window moral hazard advertisement creates moral hazard says j robert hunter director insurance consumer federation america employer might think hmm im starting lose money maybe knock insured employees obviously walmart wouldnt adds everybody walmart 2011 police ohio arrested owner oilchange business charged trying hire hit man kill former employee collect 250000 coli policy according columbus dispatch cases rare little wonder insurance earned pejorative dead peasant nickname years hundreds companies believed named beneficiaries deaths current former employees myers firm lists 200 including many familiar brand names wall street journal reported even major life insurance companies held dead peasant policies hundreds workers history dead peasant insurance come banks large companies originally used corporateowned life insurance taxadvantaged way fund employee pension programs hedge financial loss untimely death top executive practice known key man insurance corporations began pumping keyperson policies beyond reason borrowing enjoy huge interest writeoffs irs cracked 1986 capping amount deductible interest 50000 per policy thats got control says myers insurance entrepreneurs said well limit 50000 instead two three large policies lets 10000 20000 smaller ones cover whole company reforms pension protection act 2006 congress restricted dead peasant programs adopting best practices new corporateowned life insurance policies require companies companies ignore best practices hunter says theyll likely forfeit coli tax advantages including taxfree death benefits think still going says would opted tougher criteria failing insurable interest test myers says dead peasant policies violate one tenets insurance concept life insurance policyholder beneficiary insurable interest insured simply put individuals companies insurable interest benefit financially living would suffer death throughout history relatively recently insurable interest defined close blood relatives key employees debtors amount debt thats says hunter agrees dead peasant policies fail insurable interest test lowlevel worker dies usually someone replace doesnt really impact entire corporate structure says puts financial strain organization employees might mind peter kochenburger insurance law professor university connecticut school law says even tenet open interpretation insurable interest forever modified state law says states allowed employer insurable interest employee regardless whether theyre key man kochenburger says employees may objection insured commodity average guy may think employer probably cheaper way fund employee benefits sort benefit says myers says thats faulty assumption best really help pensions companies claim theyre beneficiaries employee pension fund myers says ive never seen company dedicated account receipt policy benefits held exclusively benefit plan adds benefit funds typically soup companys general treasury happens distinguish got dead employees got selling inventory tax refunds whatever asks whats solution potential dead peasant insurance excesses strip away tax advantage policies insuring lives anyone insurable interest myers says go back traditional insurable interests key man close relatives debtors amount debt think wed fine copyright 2014 bankrate inc | 527 |
<p>Getting ahead isn't simply a matter of having a great idea, nor of being intelligent or improving your mastery in your chosen arena. The key is to focus on the edge that you can keep for the longer term. In this episode of&#160; <a href="https://www.fool.com/podcasts/answers/?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd6c6b7a-ae9d-11e7-a5d8-0050569d4be0&amp;utm_source=foxbusiness" type="external">Motley Fool Answers Opens a New Window.</a>, Alison Southwick and Robert Brokamp are joined by former Fool Morgan Housel to talk about figuring out what your sustainable advantages are, both in investing and in life. He lays out five possible advantages that you and the businesses you invest in might already have, or want to cultivate, in service of acquiring an edge. The fourth: accept that the possibility of big failures is a prerequisite for big successes.</p>
<p>A full transcript follows the video.</p>
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<p>10 stocks we like better than&#160;Wal-MartWhen investing geniuses David and Tom&#160;Gardner have a stock tip, it can pay to listen. After all, the newsletter they&#160;have run for over a decade, the Motley Fool Stock Advisor, has tripled the market.*</p>
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<p>*Stock Advisor returns as of&#160;October 9, 2017The author(s) may have a position in any stocks mentioned.</p>
<p>This video was recorded on Aug. 22, 2017.</p>
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<p>Alison Southwick: No. 4: the willingness to fail more than your competition.</p>
<p>Morgan Housel: This is especially true for businesses. I think it's probably true for investors, as well, but especially for large corporations. It's the inability to want to do anything that doesn't equate to short-term profits, or instant profits I should say. They tend to punt. They don't want to fail.</p>
<p>Individual managers view it as career risk. Companies view it as [not making their] quarterly earnings. So, the desire to not take a risk sets them up for stagnation, and in a world that's always adapting and evolving into something new, if you are a company that's unwilling to take risk, you're probably going to get left behind.</p>
<p>I think two amazing examples of companies that failed better than anyone else are Google&#160;and Amazon. In my view I think Amazon is probably the most impressive company of the last 50 years and maybe the last century. It's just absolutely staggering what Jeff Bezos has been able to accomplish, especially just in the last 10 years.</p>
<p>And the root of that, I think, is his ability to take risk. And not just take risk, but his willingness to fail. Things like the Kindle Fire Phone, which by any definition was just a disastrous failure. They hardly sold any phones. Even when they were trying to sell them for a dollar, they couldn't sell them. A total failure.</p>
<p>And when Jeff was on conference calls -- and granted it's easier to do this when the rest of the company is super successful ...</p>
<p>Southwick: I was going to say. It's easy to fail when you have a massive war chest ...</p>
<p>Housel: When you have a lot in, but that goes both ways. The reason they have a massive war chest is because they've been willing to fail and that willingness let them find other business segments that ended up doing incredibly well. If you're never willing to fail, you're not going to find one of those segments that does really well.</p>
<p>When Bezos talked about the Fire Phone, I think most managers would say, "Oh, well, the market moved against us. Our suppliers didn't ..." They would try to either sweep it under the rug or pass blame. And Bezos's comment -- this isn't verbatim, but it's pretty close to it -- is when he said, "If you think the Kindle Fire Phone was a failure, you ain't seen nothing yet." He said, "We're going to have much bigger failures. I guarantee it."</p>
<p>That's just his mentality. I think that because he has that mentality, Amazon is going to keep finding new business segments that are incredibly profitable because they're willing to go out and take the risk that's needed to find those things.</p>
<p>Robert Brokamp: You've gone from the world of The Motley Fool -- that looks at publicly traded companies -- to where you are now, looking at privately held companies or private equity. And there's a big debate, now. Why is it that companies are more reluctant to go public or at least wait longer? Is part of it this whole having to meet quarterly earnings?</p>
<p>Housel: I think that's part of it, but the rebuttal would be that as companies grow and they're in the private equity space [so they're not start-ups -- they're established companies but they're privately owned] those companies do face earnings pressure. Maybe it's not quarterly. Maybe it's annually, but it's not a distinct difference.</p>
<p>There's often a viewpoint, sometimes, that if you're a private company you don't ever have to make your numbers again, and that's just not the case. Private owners of stocks want their companies to perform and sooner rather than later. So, I'd say the pressure is reduced when you're a private company, but it doesn't go away.</p>
<p>Why are so many companies staying private? The big statistics is that there are half as many publicly traded companies today as there were in 1995. The number of publicly traded companies peaked in 1995. I think it was 7,300 and now there's like 3,400. It's a huge reduction in the past 20 years.</p>
<p>And there are a lot of reasons for that. It's expensive to be a public company. You have the spotlight on you all the time where the 24/7 news media is always going to be seeing what's going on and wanting to write the big, headline-grabbing story of what's going on with the company's culture. So, the more public information you have, the more burdensome spotlight you have on you.</p>
<p>And as you alluded to, the quarterly earnings race for a public company can be really difficult. I think the big reason is there now is just so much private money out there that companies don't need to go public. There's just no need to do it. Twenty years ago there was no way that Uber or Lyft could stay private like they have now. There wasn't that much money in venture capital or private equity that would fund them to this point. They would have had to go public when they were still a really small company.</p>
<p>But now a company like Uber, which is valued at $70 billion in its last round, can stay private and can keep raising as much money as it needs to from private investors. There's just no need to go public, so there's no reason for a lot of companies to go through the rigmarole and the hassle of being a public company if there's no tangible benefit of doing so.</p>
<p>And that is, I think, only growing. The amount of money in private markets is growing so much that that trend, I think, will continue. And something that's happened just this year is SoftBank. A big financial company based out of Japan raised a $100 billion venture capital fund this year. And to put that into context, $100 billion is more than all of the IPO proceeds raised from 2010 to 2012 and that's just one fund. So, having that much money in private markets just means that big companies like Uber, Lyft, and Airbnb don't need to go public.</p>
<p>Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. <a href="http://my.fool.com/profile/TMFAlison/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd6c6b7a-ae9d-11e7-a5d8-0050569d4be0&amp;utm_source=foxbusiness" type="external">Alison Southwick Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/cmfhousel/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd6c6b7a-ae9d-11e7-a5d8-0050569d4be0&amp;utm_source=foxbusiness" type="external">Morgan Housel Opens a New Window.</a> has no position in any of the stocks mentioned. <a href="http://my.fool.com/profile/TMFBro/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd6c6b7a-ae9d-11e7-a5d8-0050569d4be0&amp;utm_source=foxbusiness" type="external">Robert Brokamp, CFP Opens a New Window.</a> has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and 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;uuid=cd6c6b7a-ae9d-11e7-a5d8-0050569d4be0&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | getting ahead isnt simply matter great idea intelligent improving mastery chosen arena key focus edge keep longer term episode of160 motley fool answers opens new window alison southwick robert brokamp joined former fool morgan housel talk figuring sustainable advantages investing life lays five possible advantages businesses invest might already want cultivate service acquiring edge fourth accept possibility big failures prerequisite big successes full transcript follows video continue reading 10 stocks like better than160walmartwhen investing geniuses david tom160gardner stock tip pay listen newsletter they160have run decade motley fool stock advisor tripled market david tom160just revealed believe the160 ten best stocks opens new window160for investors buy right walmart wasnt one thats right they160think 10 stocks even better buys click opens new window160to learn picks stock advisor returns of160october 9 2017the authors may position stocks mentioned video recorded aug 22 2017 advertisement alison southwick 4 willingness fail competition morgan housel especially true businesses think probably true investors well especially large corporations inability want anything doesnt equate shortterm profits instant profits say tend punt dont want fail individual managers view career risk companies view making quarterly earnings desire take risk sets stagnation world thats always adapting evolving something new company thats unwilling take risk youre probably going get left behind think two amazing examples companies failed better anyone else google160and amazon view think amazon probably impressive company last 50 years maybe last century absolutely staggering jeff bezos able accomplish especially last 10 years root think ability take risk take risk willingness fail things like kindle fire phone definition disastrous failure hardly sold phones even trying sell dollar couldnt sell total failure jeff conference calls granted easier rest company super successful southwick going say easy fail massive war chest housel lot goes ways reason massive war chest theyve willing fail willingness let find business segments ended incredibly well youre never willing fail youre going find one segments really well bezos talked fire phone think managers would say oh well market moved us suppliers didnt would try either sweep rug pass blame bezoss comment isnt verbatim pretty close said think kindle fire phone failure aint seen nothing yet said going much bigger failures guarantee thats mentality think mentality amazon going keep finding new business segments incredibly profitable theyre willing go take risk thats needed find things robert brokamp youve gone world motley fool looks publicly traded companies looking privately held companies private equity theres big debate companies reluctant go public least wait longer part whole meet quarterly earnings housel think thats part rebuttal would companies grow theyre private equity space theyre startups theyre established companies theyre privately owned companies face earnings pressure maybe quarterly maybe annually distinct difference theres often viewpoint sometimes youre private company dont ever make numbers thats case private owners stocks want companies perform sooner rather later id say pressure reduced youre private company doesnt go away many companies staying private big statistics half many publicly traded companies today 1995 number publicly traded companies peaked 1995 think 7300 theres like 3400 huge reduction past 20 years lot reasons expensive public company spotlight time 247 news media always going seeing whats going wanting write big headlinegrabbing story whats going companys culture public information burdensome spotlight alluded quarterly earnings race public company really difficult think big reason much private money companies dont need go public theres need twenty years ago way uber lyft could stay private like wasnt much money venture capital private equity would fund point would go public still really small company company like uber valued 70 billion last round stay private keep raising much money needs private investors theres need go public theres reason lot companies go rigmarole hassle public company theres tangible benefit think growing amount money private markets growing much trend think continue something thats happened year softbank big financial company based japan raised 100 billion venture capital fund year put context 100 billion ipo proceeds raised 2010 2012 thats one fund much money private markets means big companies like uber lyft airbnb dont need go public suzanne frey executive alphabet member motley fools board directors alison southwick opens new window position stocks mentioned morgan housel opens new window position stocks mentioned robert brokamp cfp opens new window position stocks mentioned motley fool owns shares recommends alphabet shares alphabet c shares amazon motley fool disclosure policy opens new window | 719 |
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<p>These are supposed to be bright days for the utilities and power producers that own coal and other fossil fuel power plants across the country. Republicans control Congress, the White House, most state governorships, most state legislatures, and soon (likely) the Supreme Court. And a central theme of their pitch to voters and business leaders has been that they will reduce the regulations that are choking American business, namely by killing the Clean Power Plan and bringing back coal, expanding fracking, and making American power generators great again.</p>
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<p>But in the first two months of the Trump Administration, there have been more <a href="http://news.wjct.org/post/business-brief-jea-coal-plant-closure-part-national-trend" type="external">coal Opens a New Window.</a> <a href="https://www.washingtonpost.com/news/energy-environment/wp/2017/02/14/the-wests-largest-coal-fired-power-plant-is-closing-not-even-trump-can-save-it/" type="external">plant Opens a New Window.</a> <a href="http://www.cbsnews.com/news/two-ohio-coal-burning-power-plants-bite-the-dust/" type="external">closures Opens a New Window.</a> announced, and utilities don't seem to be eager to expand their fossil fuel asset base, particularly coal plants. There are a lot of reasons that energy is getting cleaner, not dirtier, putting utilities in a tough spot between politicians who want more fossil fuels and the realities facing their businesses.</p>
<p>Image source: Getty Images.</p>
<p>I want to make one thing clear early on: Investing based on politics isn't a good idea. But that doesn't mean politics doesn't affect investing. And 2017's energy industry is a great example of that.</p>
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<p>Coal was supposed to be the big winner of 2017, but since the election, AES Corporation (NYSE: AES) has announced a coal plant closure, and a massive plant owned by Pinnacle West's (NYSE: PNW) Arizona Public Service and Berkshire Hathaway (NYSE: BRK-A)(NYSE: BRK-B) subsidiary NV Energy has announced its closure, planned for 2019. This is on top of hundreds of coal plants closed or planned to be decommissioned in the last decade. Utilities are finding that coal plants just aren't a good investment, and it isn't because of current trends in regulations. It has more to do with where regulations may be a decade from now and with the low cost of renewable energy, which has much less regulatory risk.</p>
<p>While it might seem like the political environment would be ripe for at least keeping coal plants running, that's not how the utility business works. Utilities have to think about how regulation and politics might affect their business a decade from now. Climatewire reporter Emily Holden recently highlighted why the elimination of the Clean Power Plan (CPP) now might actually be bad for utilities from a regulatory perspective if the political power flips in four or eight years (as it did from 2008 to 2016).</p>
<p>The fact that it's possible that regulations could be even stricter in the future if political winds shift is a big deal for the utility business.</p>
<p>One of the best arguments utilities themselves made for the CPP is that it set the rules of regulation and compliance years in advance. When the CPP's legal standing was in question, they didn't know the rules of engagement. Under the CPP, everyone knew there was going to be a push away from coal and toward cleaner sources of energy like wind and solar, so they could prepare for it.</p>
<p>Under Trump, it's clear that the political winds have moved in the opposite direction, which was predictable. But that doesn't mean the current deconstruction of regulations will last. If the political power shifts in four or eight years, the return of stricter regulations that harm the economics of fossil fuel plants could be back. And they could be worse than under the CPP.</p>
<p>This presents a challenge for companies like Calpine Corporation (NYSE: CPN), Dynegy Inc. (NYSE: DYN), Exelon Corporation (NYSE: EXC), and NRG Energy Inc. (NYSE: NRG), which are independent power producers that sell energy to utilities. They operate largely in the unregulated energy market, generating a return on power plant investments over 30-plus years. If they build a coal plant today that makes sense under today's rules and suddenly regulations change down the line, that investment could be a money-loser. And each of these four companies has struggled over the last decade with the transition away from coal to both natural gas and renewable energy. So they don't have much appetite for risk in testing the regulatory future.</p>
<p>In the short term, the elimination of a regulatory framework like the CPP may be a positive for utilities, but if the CPP is replaced by more burdensome regulations in the future, it could be even more damaging. And that's a reality they have to contend with in their decision-making process. Do you choose the short-term profit and risk long-term value destruction, or take the short-term hit and shut down dirtier fossil fuel plants in an effort to find a way to invest in energy sources that are cleaner? That's the rock and the hard place executives find themselves between.</p>
<p>Regulations are always a challenge in the energy business, but in the long term the trend is away from pollutive sources of energy like coal and toward cleaner forms of energy like natural gas and renewable energy. Given the economic momentum behind wind and solar, I don't see that changing anytime soon. And with the energy industry looking to invest on a multidecade cycle that will span multiple presidential and congressional terms, corporations and executives would be wise to follow the long-term trends and not be distracted by the short-term political rhetoric -- because the winds of Washington, DC, could change in just a few years.</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 March 6, 2017The author(s) may have a position in any stocks mentioned.</p>
<p><a href="http://my.fool.com/profile/TMFFlushDraw/info.aspx" type="external">Travis Hoium Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of NRG Energy. 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 | supposed bright days utilities power producers coal fossil fuel power plants across country republicans control congress white house state governorships state legislatures soon likely supreme court central theme pitch voters business leaders reduce regulations choking american business namely killing clean power plan bringing back coal expanding fracking making american power generators great continue reading first two months trump administration coal opens new window plant opens new window closures opens new window announced utilities dont seem eager expand fossil fuel asset base particularly coal plants lot reasons energy getting cleaner dirtier putting utilities tough spot politicians want fossil fuels realities facing businesses image source getty images want make one thing clear early investing based politics isnt good idea doesnt mean politics doesnt affect investing 2017s energy industry great example advertisement coal supposed big winner 2017 since election aes corporation nyse aes announced coal plant closure massive plant owned pinnacle wests nyse pnw arizona public service berkshire hathaway nyse brkanyse brkb subsidiary nv energy announced closure planned 2019 top hundreds coal plants closed planned decommissioned last decade utilities finding coal plants arent good investment isnt current trends regulations regulations may decade low cost renewable energy much less regulatory risk might seem like political environment would ripe least keeping coal plants running thats utility business works utilities think regulation politics might affect business decade climatewire reporter emily holden recently highlighted elimination clean power plan cpp might actually bad utilities regulatory perspective political power flips four eight years 2008 2016 fact possible regulations could even stricter future political winds shift big deal utility business one best arguments utilities made cpp set rules regulation compliance years advance cpps legal standing question didnt know rules engagement cpp everyone knew going push away coal toward cleaner sources energy like wind solar could prepare trump clear political winds moved opposite direction predictable doesnt mean current deconstruction regulations last political power shifts four eight years return stricter regulations harm economics fossil fuel plants could back could worse cpp presents challenge companies like calpine corporation nyse cpn dynegy inc nyse dyn exelon corporation nyse exc nrg energy inc nyse nrg independent power producers sell energy utilities operate largely unregulated energy market generating return power plant investments 30plus years build coal plant today makes sense todays rules suddenly regulations change line investment could moneyloser four companies struggled last decade transition away coal natural gas renewable energy dont much appetite risk testing regulatory future short term elimination regulatory framework like cpp may positive utilities cpp replaced burdensome regulations future could even damaging thats reality contend decisionmaking process choose shortterm profit risk longterm value destruction take shortterm hit shut dirtier fossil fuel plants effort find way invest energy sources cleaner thats rock hard place executives find regulations always challenge energy business long term trend away pollutive sources energy like coal toward cleaner forms energy like natural gas renewable energy given economic momentum behind wind solar dont see changing anytime soon energy industry looking invest multidecade cycle span multiple presidential congressional terms corporations executives would wise follow longterm trends distracted shortterm political rhetoric winds washington dc could change years 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 march 6 2017the authors may position stocks mentioned travis hoium opens new window position stocks mentioned motley fool owns shares nrg energy motley fool disclosure policy opens new window | 599 |
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<p>President Trump is closing in on the 100-day mark in the Oval Office, and if he's learned one thing about working in Washington, it's that legislation doesn't come easy. Though he's been among the most active presidents with regard to signing executive orders, Trump has yet to sign and see passed what would be construed as any major legislation in Congress.</p>
<p>Continue Reading Below</p>
<p>In March, the American Health Care Act (AHCA) was unveiled to a mixed audience as a replacement for the disliked Affordable Care Act (ACA), which many people refer to as Obamacare. With Republicans holding a majority in the House and Senate, it was widely expected that the AHCA would easily displace Obamacare, but that wasn't the case. Some Republicans within the House felt the AHCA went too far in removing ACA funding to low-income individuals and families, while others believed that the AHCA was just "Obamacare Lite," and that a full repeal was necessary of Obamacare's Title 1 laws (e.g., insurance industry mandates) before they'd support it. Long story short, the AHCA never even made it to vote.</p>
<p>Image source: Donald J. Trump's official Facebook page. Photo by Shealah Craighead.</p>
<p>Just weeks later, the Trump administration announced that it was also going back to the drawing board with its tax plan. The passage of the AHCA was expected to reduce the federal deficit by $337 billion over a decade (mainly a result of lower Medicaid payouts to states), and so without these savings Republicans had to rethink a number of aspects of their tax proposal.</p>
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<p>For those who may not recall, Trump had been campaigning on essentially mirroring the House Republicans' individual tax plan. This would have shrunk the number of ordinary income tax brackets from seven (10% minimum and 39.6% maximum) down to three (12%, 25%, and 33%), and according to Trump it would have led to a considerably simpler U.S. tax code. On the corporate side of the equation, as a candidate, The Donald had trumpeted lowering the corporate tax rate to 15% from 35%, as well as providing a special repatriation-holiday tax rate to encourage businesses to bring international income back to the United States.</p>
<p>However, we can probably take what we thought we knew about the Republican proposal and safely toss it out the window. Some pundits have suggested we may not even see a clear tax plan until early 2018, while President Trump has assured Americans that a plan will be presented with haste.</p>
<p>While it's impossible to know the finer points of a plan that's still being developed, I'd opine that there are three things you can just about count on with Trump's new tax plan when it is unveiled.</p>
<p>Image source: Getty Images.</p>
<p>Though some might view Trump's tax plans to cut individual and corporate tax rates as equally important, Trump is first and foremost a businessman, so he, in my opinion, is far more likely to fight tooth and nail for as much of a corporate tax cut as possible. He campaigned for a 15% corporate tax rate last year, but given the failure of the AHCA to pass, 20% would probably be more likely.</p>
<p>Why focus on lowering the corporate tax rate? For one, Trump believes that if businesses have more income left over after taxes, they'll put it to work by hiring American workers and expanding their domestic operations. Since our economy is so driven by consumption, these added jobs and the income generated by these workers should flow right back into the U.S. economy.</p>
<p>A lower corporate tax rate would also likely stem the appeal of tax inversion deals. Tax inversion is a practice in which s U.S. company and a foreign company in a country with a notably lower maximum corporate tax rate, like Ireland, merge, allowing the U.S. company to relocate its headquarters to the foreign location to take advantage of the lower tax rate.</p>
<p>The other important aspect of a lower tax rate is that it makes investing in the U.S. far more attractive to foreign businesses. It's possible that a lower corporate tax rate could bring foreign investment dollars into the U.S.</p>
<p>Image source: Getty Images.</p>
<p>Second, it seems highly likely that Trump and Republicans will place more focus on simplifying the individual tax code than on the actual tax cuts themselves. Don't get me wrong: The full expectation is that middle-class Americans will be paying a lower ordinary income tax rate than they're paying under the current tax schedule. However, the magnitude of cuts might not be anywhere near as aggressive as Trump's first proposal (0%, 10%, 20%, 25%) or his second proposal, which is the aforementioned adopted House suggestion of three brackets (12%, 25%, and 33%).</p>
<p>Trump's focus on deregulating the energy and banking industries, as well as the nature of his executive order requiring that two federal regulations be removed for each new federal regulation put into law, provides all the evidence we need that he's serious about simplifying the U.S. tax code. A tax code, mind you, that's ballooned to more than 10 million words!</p>
<p>During his campaign, Trump touted that the charitable giving deduction and mortgage interest deduction would be saved, and that taxpayers would see a more than doubling in their standard deduction. In turn, nearly all other deductions and credits would disappear. It's tough to say if the new tax plan would take a similar tone, but I would count on it removing a number of deductions and credits in favor of a more simplified standard-deduction approach.</p>
<p>Image source: Getty Images.</p>
<p>Last, following the failure of the AHCA even with the odds stacked in the GOP's favor, you can almost count on Trump's new tax plan to be revenue-neutral over a 10-year period.</p>
<p>What's the purpose behind a revenue-neutral plan? It allows the Republicans to make changes that impact the federal budget (i.e., taxes) through the reconciliation process. Reconciliation only requires a majority vote, meaning 51 votes in the Senate as opposed to 60. A revenue-neutral tax plan wouldn't have to garner a single vote by a Democrat in the House or Senate if all Republicans were to stick to the party line.</p>
<p>However, this means that Republicans are going to need to find a way to generate revenue after cutting individual and corporate taxes. Therein lies the great question mark for the time being. One idea that's purportedly been floated around is a value-added tax, or VAT. A VAT is a tax that's placed on different stages of the production or distribution of a product, and it's a common tax passed along in Europe. A VAT may be able to raise enough revenue to offset the cut in individual and corporate taxes, but it may also make goods more expensive for consumers and families.</p>
<p>How Republicans will increase revenue still remains to be seen, but there's a nearly 100% chance, in my opinion, that we see a revenue-neutral tax plan from Trump and GOP legislators.</p>
<p>The next step at this point is to merely watch and wait for the tax plan to be unveiled.</p>
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<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 | president trump closing 100day mark oval office hes learned one thing working washington legislation doesnt come easy though hes among active presidents regard signing executive orders trump yet sign see passed would construed major legislation congress continue reading march american health care act ahca unveiled mixed audience replacement disliked affordable care act aca many people refer obamacare republicans holding majority house senate widely expected ahca would easily displace obamacare wasnt case republicans within house felt ahca went far removing aca funding lowincome individuals families others believed ahca obamacare lite full repeal necessary obamacares title 1 laws eg insurance industry mandates theyd support long story short ahca never even made vote image source donald j trumps official facebook page photo shealah craighead weeks later trump administration announced also going back drawing board tax plan passage ahca expected reduce federal deficit 337 billion decade mainly result lower medicaid payouts states without savings republicans rethink number aspects tax proposal advertisement may recall trump campaigning essentially mirroring house republicans individual tax plan would shrunk number ordinary income tax brackets seven 10 minimum 396 maximum three 12 25 33 according trump would led considerably simpler us tax code corporate side equation candidate donald trumpeted lowering corporate tax rate 15 35 well providing special repatriationholiday tax rate encourage businesses bring international income back united states however probably take thought knew republican proposal safely toss window pundits suggested may even see clear tax plan early 2018 president trump assured americans plan presented haste impossible know finer points plan thats still developed id opine three things count trumps new tax plan unveiled image source getty images though might view trumps tax plans cut individual corporate tax rates equally important trump first foremost businessman opinion far likely fight tooth nail much corporate tax cut possible campaigned 15 corporate tax rate last year given failure ahca pass 20 would probably likely focus lowering corporate tax rate one trump believes businesses income left taxes theyll put work hiring american workers expanding domestic operations since economy driven consumption added jobs income generated workers flow right back us economy lower corporate tax rate would also likely stem appeal tax inversion deals tax inversion practice us company foreign company country notably lower maximum corporate tax rate like ireland merge allowing us company relocate headquarters foreign location take advantage lower tax rate important aspect lower tax rate makes investing us far attractive foreign businesses possible lower corporate tax rate could bring foreign investment dollars us image source getty images second seems highly likely trump republicans place focus simplifying individual tax code actual tax cuts dont get wrong full expectation middleclass americans paying lower ordinary income tax rate theyre paying current tax schedule however magnitude cuts might anywhere near aggressive trumps first proposal 0 10 20 25 second proposal aforementioned adopted house suggestion three brackets 12 25 33 trumps focus deregulating energy banking industries well nature executive order requiring two federal regulations removed new federal regulation put law provides evidence need hes serious simplifying us tax code tax code mind thats ballooned 10 million words campaign trump touted charitable giving deduction mortgage interest deduction would saved taxpayers would see doubling standard deduction turn nearly deductions credits would disappear tough say new tax plan would take similar tone would count removing number deductions credits favor simplified standarddeduction approach image source getty images last following failure ahca even odds stacked gops favor almost count trumps new tax plan revenueneutral 10year period whats purpose behind revenueneutral plan allows republicans make changes impact federal budget ie taxes reconciliation process reconciliation requires majority vote meaning 51 votes senate opposed 60 revenueneutral tax plan wouldnt garner single vote democrat house senate republicans stick party line however means republicans going need find way generate revenue cutting individual corporate taxes therein lies great question mark time one idea thats purportedly floated around valueadded tax vat vat tax thats placed different stages production distribution product common tax passed along europe vat may able raise enough revenue offset cut individual corporate taxes may also make goods expensive consumers families republicans increase revenue still remains seen theres nearly 100 chance opinion see revenueneutral tax plan trump gop legislators next step point merely watch wait tax plan unveiled 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 | 761 |
<p>Gold prices rose Friday after the latest tepid reading on the U.S. economy.</p>
<p>Gold for December delivery climbed 0.4% to $1,301.90 a troy ounce on the Comex division of the New York Mercantile Exchange. The precious metal was back above $1,300 for the first time in two weeks and on track to end a four-week losing streak following another weak inflation reading Friday that increased doubts about the Federal Reserve's interest rate plans.</p>
<p>Continue Reading Below</p>
<p>Data released Friday showed the consumer-price index rose less than economists expected in September, with so-called core prices excluding food and energy increasing just 0.1%. Inflation has remained weak throughout the year, putting the Fed in a bind as it tries to stay committed to its plans for gradual rate hikes moving forward.</p>
<p>Expectations that the Fed will raise rates for a third time this year in December have weighed on gold prices recently because the precious metal struggles to compete with yield-bearing assets like Treasurys as borrowing costs rise. But weak readings on the U.S. economy could create doubt about the Fed's outlook moving forward, buoying gold once again, some analysts and investors say.</p>
<p>"It's not a done deal," said Walter Pehowich, senior vice president at Dillon Gage Metals.</p>
<p>"The gold market is basically saying, 'We're not really too sure that you're absolutely going to raise rates in December,'" he said.</p>
<p>Even if the Fed raises rates in December, persistent weak inflation could raise more doubts about its plans for 2018, Mr. Pehowich added.</p>
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<p>The dollar fell following Friday's data, also supporting gold prices by making the dollar-denominated metal cheaper for foreign buyers. The WSJ Dollar Index, which tracks the U.S. currency against a basket of 16 others, was recently down 0.3%.</p>
<p>Investors will be keeping a close eye on Fed signals and economic data moving forward. Some have said minutes from the central bank's September meeting released Wednesday that again showed lingering questions over inflation were driving a split among officials have also boosted gold prices recently.</p>
<p>Among base metals, copper for December delivery rose 0.4% to $3.1330 a pound--its highest level in a month--and was on track for a fifth straight session of gains. Since retreating from multiyear highs hit in early September, prices have rallied and are nearly back at their highest level in three years.</p>
<p>Strong import data out of China released Friday was boosting industrial metals prices, as the country is responsible for nearly half the world's copper consumption. Chinese copper imports rose to a six-month high last month, according to Commerzbank, while iron ore imports set an all-time high.</p>
<p>Many analysts are expecting next week's Communist Party congress to give the base metals market further direction by providing an update on Chinese economic policy.</p>
<p>Write to Amrith Ramkumar at [email protected]</p>
<p>Gold prices rose Friday after the latest tepid reading on the U.S. economy.</p>
<p>Gold for December delivery closed up 0.6% at $1,304.60 a troy ounce on the Comex division of the New York Mercantile Exchange. The precious metal was back above $1,300 for the first time in two weeks and ended a four-week losing streak following another weak inflation reading Friday that increased doubts about the Federal Reserve's interest rate plans.</p>
<p>Data released Friday showed the consumer-price index rose less than economists expected in September, with so-called core prices excluding food and energy increasing just 0.1%. Inflation has remained weak throughout the year, putting the Fed in a bind as it tries to stay committed to its plans for gradual rate increases moving forward.</p>
<p>Expectations that the Fed will raise rates for a third time this year in December have weighed on gold prices recently because the precious metal struggles to compete with yield-bearing assets like Treasurys as borrowing costs rise. But weak readings on the U.S. economy could create doubt about the Fed's outlook moving forward, buoying gold once again, some analysts and investors say.</p>
<p>"It's not a done deal," said Walter Pehowich, senior vice president at Dillon Gage Metals.</p>
<p>"The gold market is basically saying, 'We're not really too sure that you're absolutely going to raise rates in December,'" he said.</p>
<p>Even if the Fed raises rates in December, persistent weak inflation could raise more doubts about its plans for 2018, Mr. Pehowich added.</p>
<p>The dollar fell following Friday's data, also supporting gold prices by making the dollar-denominated metal cheaper for foreign buyers. The WSJ Dollar Index, which tracks the U.S. currency against a basket of 16 others, was recently down 0.2%.</p>
<p>Investors will be keeping a close eye on Fed signals and economic data moving forward. Some have said minutes from the central bank's September meeting released Wednesday that again showed lingering questions over inflation were driving a split among officials have also boosted gold prices recently.</p>
<p>Among base metals, copper for December delivery rose 0.4% to $3.1330 a pound -- its highest level in a month -- and was on track for a fifth straight session of gains. Since retreating from multiyear highs hit in early September, prices have rallied and are nearly back at their highest level in three years.</p>
<p>Strong import data out of China released Friday was boosting industrial metals prices, as the country is responsible for nearly half the world's copper consumption. Chinese copper imports rose to a six-month high last month, according to Commerzbank, while iron ore imports set an all-time high.</p>
<p>Many analysts are expecting next week's Communist Party congress to give the base metals market further direction by providing an update on Chinese economic policy.</p>
<p>Write to Amrith Ramkumar at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>October 13, 2017 14:30 ET (18:30 GMT)</p> | true | 0 | gold prices rose friday latest tepid reading us economy gold december delivery climbed 04 130190 troy ounce comex division new york mercantile exchange precious metal back 1300 first time two weeks track end fourweek losing streak following another weak inflation reading friday increased doubts federal reserves interest rate plans continue reading data released friday showed consumerprice index rose less economists expected september socalled core prices excluding food energy increasing 01 inflation remained weak throughout year putting fed bind tries stay committed plans gradual rate hikes moving forward expectations fed raise rates third time year december weighed gold prices recently precious metal struggles compete yieldbearing assets like treasurys borrowing costs rise weak readings us economy could create doubt feds outlook moving forward buoying gold analysts investors say done deal said walter pehowich senior vice president dillon gage metals gold market basically saying really sure youre absolutely going raise rates december said even fed raises rates december persistent weak inflation could raise doubts plans 2018 mr pehowich added advertisement dollar fell following fridays data also supporting gold prices making dollardenominated metal cheaper foreign buyers wsj dollar index tracks us currency basket 16 others recently 03 investors keeping close eye fed signals economic data moving forward said minutes central banks september meeting released wednesday showed lingering questions inflation driving split among officials also boosted gold prices recently among base metals copper december delivery rose 04 31330 poundits highest level monthand track fifth straight session gains since retreating multiyear highs hit early september prices rallied nearly back highest level three years strong import data china released friday boosting industrial metals prices country responsible nearly half worlds copper consumption chinese copper imports rose sixmonth high last month according commerzbank iron ore imports set alltime high many analysts expecting next weeks communist party congress give base metals market direction providing update chinese economic policy write amrith ramkumar amrithramkumarwsjcom gold prices rose friday latest tepid reading us economy gold december delivery closed 06 130460 troy ounce comex division new york mercantile exchange precious metal back 1300 first time two weeks ended fourweek losing streak following another weak inflation reading friday increased doubts federal reserves interest rate plans data released friday showed consumerprice index rose less economists expected september socalled core prices excluding food energy increasing 01 inflation remained weak throughout year putting fed bind tries stay committed plans gradual rate increases moving forward expectations fed raise rates third time year december weighed gold prices recently precious metal struggles compete yieldbearing assets like treasurys borrowing costs rise weak readings us economy could create doubt feds outlook moving forward buoying gold analysts investors say done deal said walter pehowich senior vice president dillon gage metals gold market basically saying really sure youre absolutely going raise rates december said even fed raises rates december persistent weak inflation could raise doubts plans 2018 mr pehowich added dollar fell following fridays data also supporting gold prices making dollardenominated metal cheaper foreign buyers wsj dollar index tracks us currency basket 16 others recently 02 investors keeping close eye fed signals economic data moving forward said minutes central banks september meeting released wednesday showed lingering questions inflation driving split among officials also boosted gold prices recently among base metals copper december delivery rose 04 31330 pound highest level month track fifth straight session gains since retreating multiyear highs hit early september prices rallied nearly back highest level three years strong import data china released friday boosting industrial metals prices country responsible nearly half worlds copper consumption chinese copper imports rose sixmonth high last month according commerzbank iron ore imports set alltime high many analysts expecting next weeks communist party congress give base metals market direction providing update chinese economic policy write amrith ramkumar amrithramkumarwsjcom end dow jones newswires october 13 2017 1430 et 1830 gmt | 631 |
<p><a href="//videos/37/52798" type="external" /></p>
<p>RUSH: I have a bunch of global warming news <a href="" type="internal">in the Stack</a> that I did not get to yesterday. It’s about the IPCC, the United Nations unit, I guess, that is the repository for the hoax. You know the University of East Anglia in Britain. Well, the hoaxers are there, but they reported to the UN, this guy at Penn State with his fake hockey stick graph. These guys all reported to the IPCC.</p>
<p>All of these models that they constructed over the years predicted calamity by now, and the calamity never happened. I was still living in California 1985, and I’m watching This Week with David Brinkley on Sunday morning, and there’s this guy named Oppenheimer, and he’s a global warming guy. He’s saying, “We’ve got 20 years!” This is 1985, and he says, “We’ve got 20 years! I don’t know if we’re right, we’re not sure if we’re right, but we can’t take the chance!</p>
<p>“If we don’t get started now on reducing greenhouse gases,” and all that same BS, “then we’re not gonna have any chance to stop this.” That was 1985. So those 20 years ended in 2005. The bottom line is, there isn’t any warming. Their models have been all wrong. <a href="http://www.dailymail.co.uk/news/article-2420783/Global-warming-just-HALF-said-Worlds-climate-scientists-admit-computers-got-effects-greenhouse-gases-wrong.html" type="external">UK Daily Mail</a>: “A leaked copy of the world’s most authoritative climate study reveals scientific forecasts of imminent doom were drastically wrong.”</p>
<p>This is not news to you. Because you listen here, you’re on the cutting edge. But it’s just added information to put in your back pocket and have on file. The UK Daily “Mail on Sunday has obtained the final draft of a report to be published later this month by the UN Intergovernmental Panel on Climate Change (IPCC),” which is the holding company, if you will, for all the hoax data.</p>
<p>“[T]he final draft of a report to be published later this month by the UN Intergovernmental Panel on Climate Change (IPCC), the ultimate watchdog whose massive, six-yearly ‘assessments’ are accepted by environmentalist [wackos], politicians and experts as the gospel of climate science. They are cited worldwide to justify [increasing] fossil fuel taxes and subsidies for ‘renewable’ energy.</p>
<p>“Yet the leaked report makes the extraordinary concession that the world has been warming at only just over half the rate claimed by the IPCC in its last assessment, published in 2007,” despite the fact that there is bunch more CO2 in the atmosphere. The so-called greenhouse gas has just been expanding by geometric proportions, and yet the temperature increase is negligible.</p>
<p><a href="http://www.dailymail.co.uk/news/article-2420783/Global-warming-just-HALF-said-Worlds-climate-scientists-admit-computers-got-effects-greenhouse-gases-wrong.html" type="external" /></p>
<p>Back in 2007, the UN “said that the planet was warming at a rate of 0.2C every decade — a figure it claimed was in line with the forecasts made by [their precious] computer climate models. But the new report says the true figure since 1951 has been only 0.12C per decade — a rate far below even the lowest computer prediction. The 31-page ‘summary for policymakers’ is based on a more technical 2,000-page analysis which will be issued at the same time.</p>
<p>“It also surprisingly reveals: IPCC scientists accept their forecast computers may have exaggerated the effect of increased carbon emissions on world temperatures — and not taken enough notice of natural variability.” Natural variability! They didn’t account for nature! The left never does, when it projects anything — taxes, rates of increase or decrease. Anyway, the hoax continues.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: Stick with the global warming here for just a second, because, again, you in this audience, because you here are fully aware of the facts about it, you’re fully aware that I call it a hoax, and that might be off-putting to some. The simplest way to explain to people who want to believe it’s true — and you know who they are. Those are people looking for ways to make themselves matter. They run around and they hear that they’re to blame for the world getting warm, or that the country is, America is to blame, our prosperity, our high standard of living and the fact that we’ve stolen all these resources from around the world, that we’re using more oil than we have any right to, and all of that.</p>
<p>When they’re hit with a solution, then they can be big people. They can do something about it. Everybody wants to matter. And that’s the sales pitch. So all you have to do is go out and, you know, buy some new kind of newfangled hybrid car or agree to raise taxes or, if you go to the store, buy everything and anything with a green label on it and you are saving the planet. I understand it’s seductive for people who want to believe it. But it is a hoax in the sense that it’s nothing more than another of the never-ending issues, political issues by the left, by the Democrat Party, to advance their ultimate agenda of bigger and bigger government and more and more control.</p>
<p>That’s all global warming ever was. For the scientists involved in it, it was a living. You go out and promote what the leftists wanted to hear, and you got grant money. And if you run around and really sound like you believe it, then they’re gonna make you a star. And if you’re Algore and you realize you can capitalize on your vice presidency, you can become a multimillionaire spreading this hoax, which he has done. But Algore, 2007 prediction, that summer in the North Pole could be ice free by 2013. Algore made this prediction. He cited it in his Nobel Peace Prize acceptance speech.</p>
<p>There’s another totally fraudulent recipient of the Nobel Peace Prize. Gore hadn’t done anything but make a movie that itself was filled with misrepresentations about the amount of ice the poor polar bears have to live on, doctored photos. He said in his acceptance speech in 2007, getting a Nobel Peace Prize, that the North Pole would be ice free by 2013. If that was the case, New York City would be underwater by this year. “In his Dec. 10, 2007 ‘Earth has a Fever’ speech, Gore referred to a prediction by US climate scientist Wieslaw Maslowski that the ArcticÂ’s summer ice could ‘completely disappear’ by 2013 due to global warming caused by carbon emissions.”</p>
<p>Now, if you haven’t heard this, the ice at the North Pole, arctic ice, is at a record amount this early in the post-summer season. Algore said six years ago there wouldn’t be any arctic ice. Today the truth is, there is a record amount of arctic ice for this time of year. He couldn’t have been more wrong. Now, let’s go back. Here’s a story from the AP: “Documents released Friday by the Nixon Presidential Library show members of President Richard Nixon’s inner circle discussing the possibilities of global warming more than 30 years ago.”</p>
<p>Now, one of Nixon’s favorite people was Daniel Patrick Moynihan. He’s a Democrat, but Nixon liked the guy. I think he was ambassador to the United Nations for Nixon. Moynihan told Nixon in an inner circle meeting 30 years ago that we would be underwater by the year 2000 because of the rapidity of global warming and the North Pole and the South Pole ice would melt and flood the coasts of this country.</p>
<p>“There is widespread agreement that carbon dioxide content will rise 25 percent by 2000, Moynihan wrote in a September 1969 memo. ‘This could increase the average temperature near the earth’s surface by 7 degrees Fahrenheit,’ he wrote. ‘This in turn could raise the level of the sea by 10 feet. Goodbye New York. Goodbye Washington, for that matter.'”</p>
<p>Thirty years ago, Moynihan, smart guy. George Will thinks he’s the smartest guy that ever lived. George Will loved Moynihan. Moynihan bought into this. That’s how seductive it is. Otherwise intelligent people buy into this notion. Their vanity and everything else makes it possible. “Oh, yeah, we have the power to destroy the planet. Oh, yeah, we have the power to raise temperatures and melt all the ice, oh, yeah.” We don’t have any such power. We couldn’t do any of this if we wanted to. But never mind. “Moynihan was Nixon’s counselor for urban affairs from January 1969 — when Nixon began his presidency — to December 1970. He later served as the US ambassador to the United Nations.”</p>
<p>So in 1969 — I was 18 years old — Moynihan tells Nixon, the temperature is gonna rise 7 degrees Fahrenheit by 2000 and bye-bye New York and Washington. And it’s just progressed. I mean, that’s about the beginning of the modern era of the feminist movement as well, by the way. Coincidence? Hmm. There are no coincidences. I learned that from the Clintons. So the hoax is out there. Every one of these proponents is dead wrong about everything they say, and yet people like me and you who object to it, we are called deniers, and we are targeted for some sort of character assassination and attack because what this is is nothing more than a leftist political effort to expand the size and role of government.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: Minor, minor, minor — all caps, MINOR — correction. Antarctic sea ice, the ice at the South Pole just reached a record high during their winter. It is the North Pole ice, Arctic ice, that’s increased by 60% compared to last year’s melt season. So it’s the South Pole where there’s a record amount of ice, and at the North Pole, 60% more ice than last year. Remember, the North Pole ice was supposed to be melted by now.</p>
<p>That’s what Algore said would happen, accepting his Nobel Prize in 2007, if we didn’t change anything — and we haven’t. All we’ve done is add more CO2, the supposed killer. CO2 is supposedly the primary agent of warming. We’ve added it out the wazoo because we can’t help it. We exhale it. There’s nothing really we can do. Yet not only the ice not melt, there’s 60% more of it! Now, Moynihan back in 1969 was talking to Nixon about this.</p>
<p>He said air pollution, CO2, was causing the warming. They were getting ready for global cooling. A 1975 Newsweek cover was gonna talk about the ice age coming. So they’re really confused how to play it back then. But Moynihan told Nixon it was air pollution that was causing global warming. Now we’re being told, by the way, air pollution is what stopped global warming, like volcano eruptions.</p>
<p>Yeah, yeah. That’s putting so much smog and dirt and junk up there that it’s interrupting the warming process, and those brilliant models didn’t account for any of this, damn it! And then there’s the dust from the Sahara Desert. That’s what’s being blamed for no hurricanes. Well, they’re really ticked off about that. The left is beside themselves that there aren’t any hurricanes ’cause that’s what they promised.</p>
<p>You know, after Katrina, global warming was supposed to increase every hurricane, you know, by a week. Each one would be deadlier than the one before it, and there haven’t been any. They’re just vacant, folks. They’re empty. They’re so devoid of facts to back up any of their claims or contentions.</p>
<p>Let’s start in Grafton, Ohio, with Rich. Glad you called, sir. Great to have you on the EIB Network. Hello.</p>
<p>CALLER: Hi, Rush. It’s an honor and a pleasure to talk to you.</p>
<p>RUSH: I appreciate that, sir. Thank you.</p>
<p>CALLER: I wanted to talk to you a little bit about models. I work for NASA, and couple years ago I went to the Goddard Space Flight Center website where you can download the models that they use, and the process of going through ’em, I found out that one of the biggest variables in determining what the temperature is going to be is what the cloud cover is, and we don’t have a way of figuring out or even modeling exactly what the cloud cover’s gonna be, and it can swing the models one way or the other.</p>
<p>RUSH: <a href="http://www.drroyspencer.com/" type="external">Are you familiar with the name Dr. Roy Spencer?</a></p>
<p>CALLER: Yes, I am.</p>
<p>RUSH: Well, that’s one of <a href="http://www.amazon.com/gp/product/1594033730?ie=UTF8&amp;tag=theofficiw0c2-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1594033730" type="external">Dr. Spencer’s areas of investigation</a>, has been the role of cloud cover in global warming.</p>
<p>CALLER: Right.</p>
<p>RUSH: It’s impossible. You can’t measure it. You can’t predict it. It’s really impossible.</p>
<p>CALLER: That’s right.</p>
<p><a href="http://www.amazon.com/gp/product/1594033730?ie=UTF8&amp;tag=theofficiw0c2-20&amp;linkCode=as2&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1594033730" type="external" />RUSH: You can’t measure cloud cover worldwide. They dissipate and form so quickly, and in all of weather forecasting, predicting cloud cover — what percentage of the skies be covered by clouds, other than when you have a storm system moving through — is such a variable, nobody can get a handle on it. It’s as much as we can do to understand how they’re formed, and how much it’s gonna happen. We’re clueless.</p>
<p>CALLER: That’s correct. It’s KS modeling, and you can’t do it. But the other thing I wanted to tell you is when you go to figure out a model, because you can’t sample every place on earth, you have to figure out a grid size that you’re gonna use, and the size of the grid that’s typically used, whole islands like Japan fall through the grid. So you have to go back. I believe we should study this better, but the reality is, the models just aren’t mature enough to make the kind of predictions that people are making.</p>
<p>RUSH: Yeah, they never have been. You know what? School’s out, as far as I’m concerned, on how many of these scientists are actually knowingly participating in a hoax and how many of ’em really are true believers on this stuff and think their models are infallible and so forth. This is the one thing that I don’t know, and it’d be impossible to find out, really.</p>
<p>The political movement funds these people with donations if they produce the right outcome in their research. So that tends to dictate what kind of research you’re gonna get in your lifestyle, if your living depends on it. But there’s no question that they have, in this movement, converted a bunch of just everyday, ordinary meteorologists into huge proselytizers for it.</p>
<p>Your average, ordinary everyday local news-weather guy has become one of the biggest proponents — whatever market you go to — of global warming. It’s almost required that you buy into this in order to get that little stamp of approval from the AMS. But the modeling, my problem with this is… I’m not a scientist on any of this stuff, and yet I I’ve talked to scientists, and they cannot deal with my reasoning on this, ’cause it isn’t scientific.</p>
<p>I’ve talked to many of them about this. So the left asserts there’s global warming, and they assert that there’s manmade global warming, and they assert that it’s caused by CO2, and they assert that they’ve got models for it. I can dispel all of that with my religious beliefs. I can dispel all of that with common sense. But they can’t rely on that, the scientists who oppose it.</p>
<p>They say they have to come up with other science that contradicts the science that’s put forth by “the believers,” if you will. So they’ve embarked… Some have done great work in doing so, but they are routinely denied permission to testify at government committees, like Senate and House committee hearings on this stuff, and if they are allowed to testify, they’re shouted down, and they’re not shown much respect, which is just more proof that the fix is in regarding this.</p>
<p>I have never believed the manmade global warming allegation, but I fully understand however the people who do. All it takes is a 105-degree day in July, and the normal reaction is, “Man, it’s getting hotter! I wonder if we’re getting hotter?” When I was a kid, everybody wondered, “Are we on getting closer to the sun?” This is a natural thing. This is really where the left is really smart. They have the ability to tap into what people of their own volition are already concerned about, and then they give ’em a reason, and they give ’em substantiation for it.</p>
<p>But the whole thing is a joke.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: John in Savannah, Georgia. Hello, sir. I appreciate your patience. Hello.</p>
<p>CALLER: Hi, Rush. I’d like to thank you, first of all, for what you do to put common sense and conservative values out there in front of the indoctrinated masses.</p>
<p>RUSH: Well, thank you very much. I appreciate that.</p>
<p>CALLER: My comment was brought to mind by a previous caller’s discussing the issue of global warming, climate change, or whatever you want to call it these days. I am a retired aerospace engineer. I’ve done a lot of work with math models and that sort of thing, and I think one thing that people don’t realize when you’re building a math model, is generally the work you do is built on the work of others. In other words, rarely are you building a model from first principles where you go through the physics of the situation. You basically rely on work that is done by previous individuals.</p>
<p>RUSH: Not only that, aren’t you relying on the past to predict the future as well? I mean, what other kind of data input do you have?</p>
<p>CALLER: Well, actually the math models themselves predict the future. However, they should also jibe with the models, data of the past. In other words, you check your models with past data and then use it to predict future data. Now, that’s a fundamental problem. As you know, there were scandals in Great Britain where the data was actually fudged because it didn’t match up with existing models.</p>
<p>RUSH: It didn’t match the agenda.</p>
<p><a href="" type="internal" /></p>
<p>CALLER: Well, yes. Yes. I believe it is the agenda. I think there are basically, as you discussed a little earlier, two different approaches to this. One is the true believer, and the other is the one who’s gotta get his research funding. That is brought over mass media to the American public, and they swallow it hook, line, and sinker. But specifically to the comment I was going to make, a great deal of the work on — and you know the term “runaway heating” or the “greenhouse effect.”</p>
<p>Most of that, or I would say all of that, is based on some work that was done on stellar atmospheres in the early 1900s, back when Einstein and other physicists were looking at how stars evolved and grew. A gentleman (and I don’t have his name in front of me) did some work on stellar atmospheres looking at the heat and light transmission through stellar atmospheres.</p>
<p>Now, these stellar atmospheres take a look at things like photons starting from the center of the star and moving out. It takes tens and hundreds of years for a photon to emerge from the sun from the center. It bounces around in there and it takes that long. Now, this fellow was looking at that. He used differential equations, which some of your listeners may be familiar with.</p>
<p>RUSH: I doubt very many.</p>
<p>CALLER: Maybe not, but these equations are notoriously hard to solve, and there are many equations that cannot be solved explicitly on paper.</p>
<p>RUSH: You know, that is exactly right. So what then is relied upon is the complexity, and, “You must just trust us. We wouldn’t lie to you. We are the only ones capable of running these models and putting them together and then analyzing what they say. It’s so complex, just trust us.” But one of the problems here, John, is that scientists refuse to release the data after a whole lot of Freedom of Information Act requests, and the hoax was exposed when the data was leaked from the University of East Anglia.</p>
<p>There had been people asking for the data, the hockey stick data, all of this stuff. They’ve been asking for it, the stuff in the models you’re talking about. They wouldn’t release it. “Oh, it’s too complex. You wouldn’t understand it. It could easily be distorted. It takes professionals like us to be able to analyze this and tell people what it really says, and we’re the only ones capable of charting it and graphing it and putting it in an understandable format for people to see and absorb.”</p>
<p>But then somebody at East Anglia says, “You know what? I’m gonna leak some data that’s in these e-mails,” and they found out that they were plugging in data, as you say, to fit an outcome that they wanted or predicted or the models they’d predicted. They were fudging it. They were fudging it, because they didn’t like the result. It’s like economic models.</p>
<p>You cannot factor dynamism, or they refuse to, in an economic model. The left, CBO, whatever. A tax cut or tax increase is proposed into law, and they do a static analysis of it because they cannot model dynamism. They can’t, just like they can’t model cloud cover. They can’t analyze it, they can’t predict it, they can’t explain it — and it’s a huge factor. So ultimately, here, John in Savannah is right on the money.</p>
<p>BREAK TRANSCRIPT</p>
<p>RUSH: By the way, our previous caller, John from Savannah, talking about photons and how long it takes them to get anywhere from the middle of the sun — let me tell you something. Apple has found a way to capture ’em fast. The new iPhone 5S has not expanded the mega pixels in the camera. It’s still eight. But they’ve opened the aperture to F2.2. More light’s gonna get in. You’re gonna be able to capture more photons, so the global warming modelers may have a tough time with their photons, but Apple has it covered. They’ve found a way to capture ’em like that (snapping fingers) to even improve on your pictures. Not a plug, not a plug, just photon news.</p> | true | 0 | rush bunch global warming news stack get yesterday ipcc united nations unit guess repository hoax know university east anglia britain well hoaxers reported un guy penn state fake hockey stick graph guys reported ipcc models constructed years predicted calamity calamity never happened still living california 1985 im watching week david brinkley sunday morning theres guy named oppenheimer hes global warming guy hes saying weve got 20 years 1985 says weve got 20 years dont know right sure right cant take chance dont get started reducing greenhouse gases bs gon na chance stop 1985 20 years ended 2005 bottom line isnt warming models wrong uk daily mail leaked copy worlds authoritative climate study reveals scientific forecasts imminent doom drastically wrong news listen youre cutting edge added information put back pocket file uk daily mail sunday obtained final draft report published later month un intergovernmental panel climate change ipcc holding company hoax data final draft report published later month un intergovernmental panel climate change ipcc ultimate watchdog whose massive sixyearly assessments accepted environmentalist wackos politicians experts gospel climate science cited worldwide justify increasing fossil fuel taxes subsidies renewable energy yet leaked report makes extraordinary concession world warming half rate claimed ipcc last assessment published 2007 despite fact bunch co2 atmosphere socalled greenhouse gas expanding geometric proportions yet temperature increase negligible back 2007 un said planet warming rate 02c every decade figure claimed line forecasts made precious computer climate models new report says true figure since 1951 012c per decade rate far even lowest computer prediction 31page summary policymakers based technical 2000page analysis issued time also surprisingly reveals ipcc scientists accept forecast computers may exaggerated effect increased carbon emissions world temperatures taken enough notice natural variability natural variability didnt account nature left never projects anything taxes rates increase decrease anyway hoax continues break transcript rush stick global warming second audience fully aware facts youre fully aware call hoax might offputting simplest way explain people want believe true know people looking ways make matter run around hear theyre blame world getting warm country america blame prosperity high standard living fact weve stolen resources around world using oil right theyre hit solution big people something everybody wants matter thats sales pitch go know buy new kind newfangled hybrid car agree raise taxes go store buy everything anything green label saving planet understand seductive people want believe hoax sense nothing another neverending issues political issues left democrat party advance ultimate agenda bigger bigger government control thats global warming ever scientists involved living go promote leftists wanted hear got grant money run around really sound like believe theyre gon na make star youre algore realize capitalize vice presidency become multimillionaire spreading hoax done algore 2007 prediction summer north pole could ice free 2013 algore made prediction cited nobel peace prize acceptance speech theres another totally fraudulent recipient nobel peace prize gore hadnt done anything make movie filled misrepresentations amount ice poor polar bears live doctored photos said acceptance speech 2007 getting nobel peace prize north pole would ice free 2013 case new york city would underwater year dec 10 2007 earth fever speech gore referred prediction us climate scientist wieslaw maslowski arcticÂs summer ice could completely disappear 2013 due global warming caused carbon emissions havent heard ice north pole arctic ice record amount early postsummer season algore said six years ago wouldnt arctic ice today truth record amount arctic ice time year couldnt wrong lets go back heres story ap documents released friday nixon presidential library show members president richard nixons inner circle discussing possibilities global warming 30 years ago one nixons favorite people daniel patrick moynihan hes democrat nixon liked guy think ambassador united nations nixon moynihan told nixon inner circle meeting 30 years ago would underwater year 2000 rapidity global warming north pole south pole ice would melt flood coasts country widespread agreement carbon dioxide content rise 25 percent 2000 moynihan wrote september 1969 memo could increase average temperature near earths surface 7 degrees fahrenheit wrote turn could raise level sea 10 feet goodbye new york goodbye washington matter thirty years ago moynihan smart guy george thinks hes smartest guy ever lived george loved moynihan moynihan bought thats seductive otherwise intelligent people buy notion vanity everything else makes possible oh yeah power destroy planet oh yeah power raise temperatures melt ice oh yeah dont power couldnt wanted never mind moynihan nixons counselor urban affairs january 1969 nixon began presidency december 1970 later served us ambassador united nations 1969 18 years old moynihan tells nixon temperature gon na rise 7 degrees fahrenheit 2000 byebye new york washington progressed mean thats beginning modern era feminist movement well way coincidence hmm coincidences learned clintons hoax every one proponents dead wrong everything say yet people like object called deniers targeted sort character assassination attack nothing leftist political effort expand size role government break transcript rush minor minor minor caps minor correction antarctic sea ice ice south pole reached record high winter north pole ice arctic ice thats increased 60 compared last years melt season south pole theres record amount ice north pole 60 ice last year remember north pole ice supposed melted thats algore said would happen accepting nobel prize 2007 didnt change anything havent weve done add co2 supposed killer co2 supposedly primary agent warming weve added wazoo cant help exhale theres nothing really yet ice melt theres 60 moynihan back 1969 talking nixon said air pollution co2 causing warming getting ready global cooling 1975 newsweek cover gon na talk ice age coming theyre really confused play back moynihan told nixon air pollution causing global warming told way air pollution stopped global warming like volcano eruptions yeah yeah thats putting much smog dirt junk interrupting warming process brilliant models didnt account damn theres dust sahara desert thats whats blamed hurricanes well theyre really ticked left beside arent hurricanes cause thats promised know katrina global warming supposed increase every hurricane know week one would deadlier one havent theyre vacant folks theyre empty theyre devoid facts back claims contentions lets start grafton ohio rich glad called sir great eib network hello caller hi rush honor pleasure talk rush appreciate sir thank caller wanted talk little bit models work nasa couple years ago went goddard space flight center website download models use process going em found one biggest variables determining temperature going cloud cover dont way figuring even modeling exactly cloud covers gon na swing models one way rush familiar name dr roy spencer caller yes rush well thats one dr spencers areas investigation role cloud cover global warming caller right rush impossible cant measure cant predict really impossible caller thats right rush cant measure cloud cover worldwide dissipate form quickly weather forecasting predicting cloud cover percentage skies covered clouds storm system moving variable nobody get handle much understand theyre formed much gon na happen clueless caller thats correct ks modeling cant thing wanted tell go figure model cant sample every place earth figure grid size youre gon na use size grid thats typically used whole islands like japan fall grid go back believe study better reality models arent mature enough make kind predictions people making rush yeah never know schools far im concerned many scientists actually knowingly participating hoax many em really true believers stuff think models infallible forth one thing dont know itd impossible find really political movement funds people donations produce right outcome research tends dictate kind research youre gon na get lifestyle living depends theres question movement converted bunch everyday ordinary meteorologists huge proselytizers average ordinary everyday local newsweather guy become one biggest proponents whatever market go global warming almost required buy order get little stamp approval ams modeling problem im scientist stuff yet ive talked scientists deal reasoning cause isnt scientific ive talked many left asserts theres global warming assert theres manmade global warming assert caused co2 assert theyve got models dispel religious beliefs dispel common sense cant rely scientists oppose say come science contradicts science thats put forth believers theyve embarked done great work routinely denied permission testify government committees like senate house committee hearings stuff allowed testify theyre shouted theyre shown much respect proof fix regarding never believed manmade global warming allegation fully understand however people takes 105degree day july normal reaction man getting hotter wonder getting hotter kid everybody wondered getting closer sun natural thing really left really smart ability tap people volition already concerned give em reason give em substantiation whole thing joke break transcript rush john savannah georgia hello sir appreciate patience hello caller hi rush id like thank first put common sense conservative values front indoctrinated masses rush well thank much appreciate caller comment brought mind previous callers discussing issue global warming climate change whatever want call days retired aerospace engineer ive done lot work math models sort thing think one thing people dont realize youre building math model generally work built work others words rarely building model first principles go physics situation basically rely work done previous individuals rush arent relying past predict future well mean kind data input caller well actually math models predict future however also jibe models data past words check models past data use predict future data thats fundamental problem know scandals great britain data actually fudged didnt match existing models rush didnt match agenda caller well yes yes believe agenda think basically discussed little earlier two different approaches one true believer one whos got ta get research funding brought mass media american public swallow hook line sinker specifically comment going make great deal work know term runaway heating greenhouse effect would say based work done stellar atmospheres early 1900s back einstein physicists looking stars evolved grew gentleman dont name front work stellar atmospheres looking heat light transmission stellar atmospheres stellar atmospheres take look things like photons starting center star moving takes tens hundreds years photon emerge sun center bounces around takes long fellow looking used differential equations listeners may familiar rush doubt many caller maybe equations notoriously hard solve many equations solved explicitly paper rush know exactly right relied upon complexity must trust us wouldnt lie ones capable running models putting together analyzing say complex trust us one problems john scientists refuse release data whole lot freedom information act requests hoax exposed data leaked university east anglia people asking data hockey stick data stuff theyve asking stuff models youre talking wouldnt release oh complex wouldnt understand could easily distorted takes professionals like us able analyze tell people really says ones capable charting graphing putting understandable format people see absorb somebody east anglia says know im gon na leak data thats emails found plugging data say fit outcome wanted predicted models theyd predicted fudging fudging didnt like result like economic models factor dynamism refuse economic model left cbo whatever tax cut tax increase proposed law static analysis model dynamism cant like cant model cloud cover cant analyze cant predict cant explain huge factor ultimately john savannah right money break transcript rush way previous caller john savannah talking photons long takes get anywhere middle sun let tell something apple found way capture em fast new iphone 5s expanded mega pixels camera still eight theyve opened aperture f22 lights gon na get youre gon na able capture photons global warming modelers may tough time photons apple covered theyve found way capture em like snapping fingers even improve pictures plug plug photon news | 1,885 |
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<p>Raj Rajaratnam's younger brother was indicted on charges of conspiring in the insider-trading scheme for which the founder of the Galleon Group hedge fund was convicted nearly two years ago, U.S. prosecutors announced on Thursday.</p>
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<p>Prosecutors said Rengan Rajaratnam, 42, conspired with his older brother to trade on non-public information concerning Clearwire Corp and Advanced Micro Devices Inc in 2008.</p>
<p>Rengan Rajaratnam was a portfolio manager at Galleon, and the trades for which he was charged resulted in nearly $1.2 million of illegal profit, according to U.S. Attorney Preet Bharara in Manhattan, who announced the charges.</p>
<p>Rengan Rajaratnam was charged with six counts of securities fraud and one count of conspiracy, and faces up to 20 years in prison on each of the fraud counts. He has not been arrested. He is not in the United States and is believed to be in Brazil, a person familiar with the matter said.</p>
<p>David Tobin, a lawyer for Rengan Rajaratnam, did not immediately respond to a request for comment.</p>
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<p>The charges arise from a broad U.S. government crackdown on insider trading. Since October 2009, seventy-seven people have been charged by Bharara's office in that probe, and 71 have been convicted. The FBI and U.S. Securities and Exchange Commission are still investigating.</p>
<p>Raj Rajaratnam, 55, received an 11-year prison sentence in October 2011 after a jury convicted him the previous May.</p>
<p>He is appealing his conviction, as well as the government's use of wiretaps to obtain it. Wiretap evidence was also used in the case against Rengan Rajaratnam.</p>
<p>"Rengan Rajaratnam and his brother shared more than DNA," Bharara said in a statement. "They also shared a penchant for insider trading."</p>
<p>The SEC filed separate civil charges against Rengan Rajaratnam, whose full first name is Rajarengan.</p>
<p>The SEC lawsuit alleges a broader scheme that netted $3 million in illicit gains for Rengan Rajaratnam and hedge funds he managed following trades on stocks including Polycom Inc and Hilton Hotels.</p>
<p>The Polycom trade took place in January 2006 when Rengan Rajaratnam was a portfolio manager at Sedna Capital Management, which he founded in 2004.</p>
<p>Before founding the firm, he worked briefly at Steven Cohen's SAC Capital Advisors LP as an analyst, the SEC said.</p>
<p>'GONNA RIP'</p>
<p>Some of the allegations in the criminal case relate to activity that prosecutors said took place in March 2008. That made it an imperative to bring securities fraud charges on those allegations now, because of a five-year statute of limitations.</p>
<p>Thursday's charges focus on two particular instances of Rajaratnam obtaining inside information.</p>
<p>The first came in March 2008 after Rajiv Goel, then an executive at Intel Corp, told Raj Rajaratnam about Intel's plans to make a $1 billion investment in Clearwire.</p>
<p>After a news report describing some details of that transaction surfaced, the younger Rajaratnam allegedly said on a phone call to his brother that the "Clearwire stuff ... just hit."</p>
<p>"So, I don't know how much you got in today, but I think (Clearwire's share price) is gonna rip tomorrow," Rengan Rajaratnam said, referring to Raj Rajaratnam's Clearwire purchases that day and the possible direction of its stock price the next day.</p>
<p>Prosecutors said Rengan Rajaratnam earned $101,070 from Clearwire trades in his personal brokerage account, while two Galleon funds he oversaw earned a combined $1.08 million.</p>
<p>Goel cooperated with prosecutors in the probe. He pleaded guilty to conspiracy to commit securities fraud in 2010 and was sentenced in September to two years probation.</p>
<p>SPILLING THE BEANS</p>
<p>The second instance concerned information received from former McKinsey &amp; Co director Anil Kumar, who was sentenced to two years probation last July following an earlier guilty plea to securities fraud charges.</p>
<p>Prosecutors said that in August 2008 Kumar told Raj Rajaratnam about a deal between McKinsey client AMD and two investment companies owned by the Abu Dhabi government, and that three hours later Raj Rajaratnam advised his brother about it.</p>
<p>They said that after Raj Rajaratnam bought 3 million AMD shares for a hedge fund he managed and 250,000 shares for a fund his brother managed, Rengan Rajaratnam told his brother by phone that another McKinsey partner "spilled his beans" and "volunteered the information about the investments" in AMD.</p>
<p>The other McKinsey partner is David Palecek, according to the SEC complaint. He died in 2010.</p>
<p>Catherine Redlich, a lawyer who represented Palecek in the investigation, in an email said "there is no proof David ever agreed to provide inside information to the Rajaratnams and no proof that he received money or other benefits from them for doing so."</p>
<p>A representative for McKinsey did not immediately respond to a request for comment.</p>
<p>Former McKinsey chief Rajat Gupta is separately appealing his conviction and two-year prison term for feeding information to Raj Rajaratnam that he had learned from board meetings at Goldman Sachs where he had been a director.</p>
<p>The cases are U.S. v. Rajaratnam, U.S. District Court, Southern District of New York, No. 13-cr-00211; and SEC v. Rajaratnam in the same court, No. 13-01894.</p> | true | 0 | raj rajaratnams younger brother indicted charges conspiring insidertrading scheme founder galleon group hedge fund convicted nearly two years ago us prosecutors announced thursday continue reading prosecutors said rengan rajaratnam 42 conspired older brother trade nonpublic information concerning clearwire corp advanced micro devices inc 2008 rengan rajaratnam portfolio manager galleon trades charged resulted nearly 12 million illegal profit according us attorney preet bharara manhattan announced charges rengan rajaratnam charged six counts securities fraud one count conspiracy faces 20 years prison fraud counts arrested united states believed brazil person familiar matter said david tobin lawyer rengan rajaratnam immediately respond request comment advertisement charges arise broad us government crackdown insider trading since october 2009 seventyseven people charged bhararas office probe 71 convicted fbi us securities exchange commission still investigating raj rajaratnam 55 received 11year prison sentence october 2011 jury convicted previous may appealing conviction well governments use wiretaps obtain wiretap evidence also used case rengan rajaratnam rengan rajaratnam brother shared dna bharara said statement also shared penchant insider trading sec filed separate civil charges rengan rajaratnam whose full first name rajarengan sec lawsuit alleges broader scheme netted 3 million illicit gains rengan rajaratnam hedge funds managed following trades stocks including polycom inc hilton hotels polycom trade took place january 2006 rengan rajaratnam portfolio manager sedna capital management founded 2004 founding firm worked briefly steven cohens sac capital advisors lp analyst sec said gon na rip allegations criminal case relate activity prosecutors said took place march 2008 made imperative bring securities fraud charges allegations fiveyear statute limitations thursdays charges focus two particular instances rajaratnam obtaining inside information first came march 2008 rajiv goel executive intel corp told raj rajaratnam intels plans make 1 billion investment clearwire news report describing details transaction surfaced younger rajaratnam allegedly said phone call brother clearwire stuff hit dont know much got today think clearwires share price gon na rip tomorrow rengan rajaratnam said referring raj rajaratnams clearwire purchases day possible direction stock price next day prosecutors said rengan rajaratnam earned 101070 clearwire trades personal brokerage account two galleon funds oversaw earned combined 108 million goel cooperated prosecutors probe pleaded guilty conspiracy commit securities fraud 2010 sentenced september two years probation spilling beans second instance concerned information received former mckinsey amp co director anil kumar sentenced two years probation last july following earlier guilty plea securities fraud charges prosecutors said august 2008 kumar told raj rajaratnam deal mckinsey client amd two investment companies owned abu dhabi government three hours later raj rajaratnam advised brother said raj rajaratnam bought 3 million amd shares hedge fund managed 250000 shares fund brother managed rengan rajaratnam told brother phone another mckinsey partner spilled beans volunteered information investments amd mckinsey partner david palecek according sec complaint died 2010 catherine redlich lawyer represented palecek investigation email said proof david ever agreed provide inside information rajaratnams proof received money benefits representative mckinsey immediately respond request comment former mckinsey chief rajat gupta separately appealing conviction twoyear prison term feeding information raj rajaratnam learned board meetings goldman sachs director cases us v rajaratnam us district court southern district new york 13cr00211 sec v rajaratnam court 1301894 | 517 |
<p />
<p>Microsoft debuted its new Windows 10 operating system Wednesday, in what the company hopes will be a pivotal moment in its bid regain its sway in a world where the PC is no longer king.</p>
<p>Continue Reading Below</p>
<p>The first people to get the new software Wednesday included about 5 million "insiders," or tech enthusiasts who previously enrolled in an early preview program. Microsoft is counting on tens or even hundreds of millions more to download its latest release for free in coming months.</p>
<p>Others will get the software when they buy a new PC. While some new models equipped with Windows 10 are available in stores this week, more will hit the market this fall. Microsoft and major PC makers are planning a global ad campaign that will extend into the crucial holiday shopping season.</p>
<p>Although Windows 10 is coming to PCs and tablets first, it's also designed to run phones, game consoles and even holographic headsets. It has new features, a streamlined Web browser called Edge and a desktop version of Cortana, the online assistant that is Microsoft's answer to Google Now and Apple's Siri.</p>
<p>Still, the company insists Windows 10 will seem familiar to users of Windows 7, the older operating system still running on most PCs. Microsoft and PC makers want to erase the memory of the last big update, 2012's Windows 8, which alienated many with its jarring, unwieldy design.</p>
<p>Microsoft skipped the name Windows 9, as if to distance itself further from the last release. While many analysts believe Windows 8 made sagging PC sales even worse, it's far from certain if Windows 10 will spur the industry back to growth.</p>
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<p>Here's a look at the launch and why it matters:</p>
<p>___</p>
<p>Q: What happens this week?</p>
<p>A: Microsoft planned to hold promotional events in several cities Wednesday, tied to a global ad campaign and a series of charitable donations. In addition to the 5 million insiders, anyone with the Home or Pro versions of Windows 7 or 8 — but not the Enterprise versions used by big companies — will be eligible to download Windows 10 for free, at any time over the next year.</p>
<p>It's not clear how many people will get it the first day; Microsoft says it will deliver downloads in waves, to ensure things go smoothly, but it hasn't said how long that will take. Details on how to upgrade are here: http://bit.ly/1eNCySl .</p>
<p>Retailers such as Best Buy, Staples and Wal-Mart should have some desktops and laptops with Windows 10 already installed. They'll also be able to update the software on new PCs that were shipped with the last version of Windows.</p>
<p>___</p>
<p>Q: Why is Microsoft giving Windows 10 for free?</p>
<p>A: The company wants to get the new software on as many devices as possible. Microsoft is betting that a large pool of users will help convince independent programmers that it's worth their time to build useful or entertaining apps for Windows 10 devices. Executives also believe that if people are exposed to the latest and best Windows, they're more likely to try other Microsoft products on PCs and mobile devices.</p>
<p>CEO Satya Nadella says he wants to have 1 billion devices running Windows 10 in three years. Microsoft estimates there are 1.5 billion people who currently use some kind of Windows. Rather than charging them to upgrade, as Microsoft used to do, it's embracing the free download model pioneered by Apple and Google.</p>
<p>___</p>
<p>Q: How will Microsoft make money?</p>
<p>A: Microsoft will still collect licensing fees from PC makers that install Windows 10 on new machines. In recent years, most consumers have waited until they bought a new computer to get the latest Windows. Microsoft also makes money from selling Windows and other software to large businesses and organizations.</p>
<p>In addition, Microsoft is counting on Windows 10 to spur more use of other services. Microsoft makes money from selling advertising for its Bing search engine; it also collects fees from people who use premium versions of its Office software, OneDrive cloud storage and Skype.</p>
<p>___</p>
<p>Q: Why does this matter to consumers?</p>
<p>A: Microsoft says Windows 10 is designed for the way people use computers today — with a faster Web browser and features that make it easier to start tasks on a PC and then switch to a hand-held device. (Apple and Google tout similar features in their software.)</p>
<p>Windows 10 also lets users log in with their face, iris or thumbprint, instead of remembering passwords, though this works only with computers equipped with the right hardware.</p>
<p>Most PC users are still working with six-year-old Windows 7, thanks to Windows 8's unpopularity. But Microsoft plans to phase out maintenance and security support for Windows 7 over the next five years, and for Windows 8 by 2023, as it did with the older Windows XP. Still, there's no need to panic about upgrading right away.</p>
<p>___</p>
<p>Q: Why is it important to the tech industry?</p>
<p>A: The growth in mobile devices has caused PC sales to decline for more than three years, hurting manufacturers like Hewlett-Packard and companies like Microsoft and Intel, whose products are used with PCs.</p>
<p>Windows 10 won't make people give up their hand-held gadgets, but it's part of Nadella's strategy to reposition Microsoft for a world where people use multiple devices. At the same time, PC makers are hoping it helps boost interest in their products, since some Windows 10 features are designed to work best with the latest hardware advances.</p>
<p>Jeff Barney, who runs Toshiba's consumer PC business, said the new software is easier to use than Windows 8 and will complement Toshiba's newest machines. Barney said he isn't expecting a big rush to stores Wednesday, but "over time, I think we're going to see a positive trend in sales."</p> | true | 0 | microsoft debuted new windows 10 operating system wednesday company hopes pivotal moment bid regain sway world pc longer king continue reading first people get new software wednesday included 5 million insiders tech enthusiasts previously enrolled early preview program microsoft counting tens even hundreds millions download latest release free coming months others get software buy new pc new models equipped windows 10 available stores week hit market fall microsoft major pc makers planning global ad campaign extend crucial holiday shopping season although windows 10 coming pcs tablets first also designed run phones game consoles even holographic headsets new features streamlined web browser called edge desktop version cortana online assistant microsofts answer google apples siri still company insists windows 10 seem familiar users windows 7 older operating system still running pcs microsoft pc makers want erase memory last big update 2012s windows 8 alienated many jarring unwieldy design microsoft skipped name windows 9 distance last release many analysts believe windows 8 made sagging pc sales even worse far certain windows 10 spur industry back growth advertisement heres look launch matters ___ q happens week microsoft planned hold promotional events several cities wednesday tied global ad campaign series charitable donations addition 5 million insiders anyone home pro versions windows 7 8 â enterprise versions used big companies â eligible download windows 10 free time next year clear many people get first day microsoft says deliver downloads waves ensure things go smoothly hasnt said long take details upgrade httpbitly1encysl retailers best buy staples walmart desktops laptops windows 10 already installed theyll also able update software new pcs shipped last version windows ___ q microsoft giving windows 10 free company wants get new software many devices possible microsoft betting large pool users help convince independent programmers worth time build useful entertaining apps windows 10 devices executives also believe people exposed latest best windows theyre likely try microsoft products pcs mobile devices ceo satya nadella says wants 1 billion devices running windows 10 three years microsoft estimates 15 billion people currently use kind windows rather charging upgrade microsoft used embracing free download model pioneered apple google ___ q microsoft make money microsoft still collect licensing fees pc makers install windows 10 new machines recent years consumers waited bought new computer get latest windows microsoft also makes money selling windows software large businesses organizations addition microsoft counting windows 10 spur use services microsoft makes money selling advertising bing search engine also collects fees people use premium versions office software onedrive cloud storage skype ___ q matter consumers microsoft says windows 10 designed way people use computers today â faster web browser features make easier start tasks pc switch handheld device apple google tout similar features software windows 10 also lets users log face iris thumbprint instead remembering passwords though works computers equipped right hardware pc users still working sixyearold windows 7 thanks windows 8s unpopularity microsoft plans phase maintenance security support windows 7 next five years windows 8 2023 older windows xp still theres need panic upgrading right away ___ q important tech industry growth mobile devices caused pc sales decline three years hurting manufacturers like hewlettpackard companies like microsoft intel whose products used pcs windows 10 wont make people give handheld gadgets part nadellas strategy reposition microsoft world people use multiple devices time pc makers hoping helps boost interest products since windows 10 features designed work best latest hardware advances jeff barney runs toshibas consumer pc business said new software easier use windows 8 complement toshibas newest machines barney said isnt expecting big rush stores wednesday time think going see positive trend sales | 597 |
<p />
<p>With higher operating cash flows and lower expenses, Clean Energy is moving closer to creating value for its shareholders. Image source: Getty Images.</p>
<p>Continue Reading Below</p>
<p>WhenClean Energy Fuels Corp(NASDAQ: CLNE) reported third-quarter earnings on November 3, the market didn't react very favorably:</p>
<p><a href="http://ycharts.com/companies/CLNE" type="external">CLNE</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>The company reported its first quarterly net loss since last year after breaking through with profits in each of the first two quarters of 2016. At the same time, there was -- on the surface, at least -- some weakness in the company's fuel-volume metrics, as it reported declines in both liquefied and renewable natural gas in its financial statement.</p>
<p>While the market reacted to the surface-level numbers, it may have ignored some key improvements in the company's operating and financial results and one thing that bodes well for future growth. Let's take a closer look.</p>
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<p>Gallons delivered is a key metric for measuring Clean Energy Fuels' performance and progress, since every part of the business is built to grow the amount of natural gas it sells to vehicle operators. Clean Energy reports fuel-volume sales as follows:</p>
<p>Volume is gasoline gallon-equivalents in millions. Source: Clean Energy Fuels Corp.</p>
<p>The table above shows that Clean Energy consistently grew its fuel volumes at double-digit rates in recent years, but that growth has slowed more recently, with the company delivering about 5% total fuel-volume growth. Furthermore, there are two concerning (on the surface) numbers above that are going backwards: RNG, or renewable natural gas, and LNG, or liquefied natural gas. (CNG is compressed natural gas.) RNG and LNG show either zero growth or even declines, more recently. This is why it's important to understand what's included in the numbers above, as well as how Clean Energy has slightly changed its business in recent years, and how that's affected the numbers above.</p>
<p>To start, let's talk about RNG. The line item above does not include "Redeem," the company's brand name for renewable natural gas that it sells to transportation customers, which is included in the CNG and LNG line items.So what's in the RNG line? Sales to utility customers, a business that Clean Energy has largely exited after selling its stake in the McCommas Bluff biomethane production facility in 2015.</p>
<p>Next is LNG. The vast majority of this volume is sold to transportation customers on a recurring basis, but the company also sells one-off bulk volumes to non-transportation users. In the third quarter of 2015, the company sold 1 million gallons toPacific Gas &amp; Electric in a one-time order.</p>
<p>In other words, the declines in RNG and LNG aren't necessarily specific to a decline in demand from transportation customers. If we remove RNG -- which is now essentially a legacy number from a business it has mostly exited -- from the equation, and adjust for the non-recurring bulk LNG order, we have fuel sales to primarily transportation users, which grew about 7%. This is not a significantly higher rate, but a more accurate measure of fuel-volume growth to transportation customers. It's also indicative that, even as oil prices stay low and keep diesel cheap, there continues to be interest in natural gas.</p>
<p>While fuel volumes measure current growth, new station construction is a leading indicator of future demand. Clean Energy Fuelsis an established expert in the station-construction business, having the technical expertise and broad reach to build stations across the country. And as the largest operator of natural gas refueling stations in North America and a manufacturer of station-refueling equipment, the company is uniquely positioned to be a first-choice long-term partner for vehicle fleet operators.</p>
<p>For this reason, Clean Energy Fuels will complete 63 station-construction projects in 2016, only slightly below the 67 projects from 2015. There's a key difference, however, in that much of 2015's construction work was upgrades, while this year, a larger number has been full station construction.</p>
<p>Through the first nine months of 2016, the company has generated $48 million in revenue from construction projects, up 75% year over year.Furthermore, management says that its backlog for new station projects for 2017 is shaping up to be similar to 2016. That bodes well for continued growth in fuel volumes.</p>
<p>Nine months into 2016, Clean Energy Fuels has reduced expenses in several key categories:</p>
<p>Data source: Clean Energy Fuels Corp.</p>
<p>Near the end of 2014, Clean Energy management started making expense reduction a priority in its refueling operations, compression equipment manufacturing business, and in corporate costs, while paying down a significant portion of its long-term debt over the past 12 months. Through the first nine months of 2016, the company has spent nearly $17 million less on selling, general, and administrative expense (SG&amp;A) and interest expense, while generating $41 million more in gross margin dollars. This was due, in part, to improved efficiencies in its station construction and compression equipment-manufacturing segments.The company has also spent nearly $17 million less on capitalexpenditures.</p>
<p>Looking ahead, these figures may be more sustainable than it would seem. On the earnings call, CFO Bob Vreeland said that management "doesn't expect significant changes in our current SG&amp;A run rate." And when it comes to interest expense, this amount is actually going to fall even further. As of this writing, the company has paid down $234 million in long-term debt, reducing its total debt -- and the associated interest expense going forward -- by more than 40%.</p>
<p>Lastly, there's capital expenditures (capex). At some point in the future, the company will need to increase capital spending on stations it will own and operate. But co-founder and CEO Andrew Littlefair has been adamant that it won't build new stations on speculation of demand going forward, but only on identified need from its customers. Furthermore, the stations that were paid for with nearly $400 million in capex over the past five years will support a significantly higher fuel volume than they are currently delivering.</p>
<p>Clean Energy Fuels may deliver another <a href="http://www.fool.com/knowledge-center/importance-of-accounting-principles-for-wiki.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">GAAP Opens a New Window.</a> loss this year, but at this stage of its growth, operating cash flows may be a more important measure of health. And operating cash flow has shifted from a negative result in 2015 to $43 million to the positive so far this year on a steady diet of continued growth in volumes, leaner operations, and lower debt expense.</p>
<p>With another strong year of station projects already lined up for 2017 and cash expenses set to fall even further, Clean Energy Fuels is probably in much better shape than Mister Market seems to realize.</p>
<p>Forget the 2016 Election: 10 stocks we like better than Clean Energy Fuels Donald Trump was just elected president, and volatility is up. But here's why you should ignore the election:</p>
<p>Investing geniuses Tom and David Gardner have spent a long time beating the market no matter who's in the White House. In fact, 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%2Fecap-foolcom-bbn-election%3Faid%3D8867%26source%3Disaeditxt0000468%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6454%26ftm_veh%3Dbbn_article_pitch&amp;impression=4a553e31-20c3-40d9-9e18-540dd2275876&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 Clean Energy Fuels 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%2Fecap-foolcom-bbn-election%3Faid%3D8867%26source%3Disaeditxt0000468%26ftm_cam%3Dsa-bbn-evergreen%26ftm_pit%3D6454%26ftm_veh%3Dbbn_article_pitch&amp;impression=4a553e31-20c3-40d9-9e18-540dd2275876&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 November 7, 2016</p>
<p><a href="http://my.fool.com/profile/elihpaudio/info.aspx" type="external">Jason Hall Opens a New Window.</a> owns shares of Clean Energy Fuels. <a href="http://my.fool.com/profile/elihpaudio/info.aspx" type="external">Jason Hall</a> has the following options: long January 2017 $5 calls on Clean Energy Fuels and long January 2017 $3 calls on Clean Energy Fuels. The Motley Fool owns shares of and recommends Clean Energy Fuels. 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 | higher operating cash flows lower expenses clean energy moving closer creating value shareholders image source getty images continue reading whenclean energy fuels corpnasdaq clne reported thirdquarter earnings november 3 market didnt react favorably clne data ycharts opens new window company reported first quarterly net loss since last year breaking profits first two quarters 2016 time surface least weakness companys fuelvolume metrics reported declines liquefied renewable natural gas financial statement market reacted surfacelevel numbers may ignored key improvements companys operating financial results one thing bodes well future growth lets take closer look advertisement gallons delivered key metric measuring clean energy fuels performance progress since every part business built grow amount natural gas sells vehicle operators clean energy reports fuelvolume sales follows volume gasoline gallonequivalents millions source clean energy fuels corp table shows clean energy consistently grew fuel volumes doubledigit rates recent years growth slowed recently company delivering 5 total fuelvolume growth furthermore two concerning surface numbers going backwards rng renewable natural gas lng liquefied natural gas cng compressed natural gas rng lng show either zero growth even declines recently important understand whats included numbers well clean energy slightly changed business recent years thats affected numbers start lets talk rng line item include redeem companys brand name renewable natural gas sells transportation customers included cng lng line itemsso whats rng line sales utility customers business clean energy largely exited selling stake mccommas bluff biomethane production facility 2015 next lng vast majority volume sold transportation customers recurring basis company also sells oneoff bulk volumes nontransportation users third quarter 2015 company sold 1 million gallons topacific gas amp electric onetime order words declines rng lng arent necessarily specific decline demand transportation customers remove rng essentially legacy number business mostly exited equation adjust nonrecurring bulk lng order fuel sales primarily transportation users grew 7 significantly higher rate accurate measure fuelvolume growth transportation customers also indicative even oil prices stay low keep diesel cheap continues interest natural gas fuel volumes measure current growth new station construction leading indicator future demand clean energy fuelsis established expert stationconstruction business technical expertise broad reach build stations across country largest operator natural gas refueling stations north america manufacturer stationrefueling equipment company uniquely positioned firstchoice longterm partner vehicle fleet operators reason clean energy fuels complete 63 stationconstruction projects 2016 slightly 67 projects 2015 theres key difference however much 2015s construction work upgrades year larger number full station construction first nine months 2016 company generated 48 million revenue construction projects 75 year yearfurthermore management says backlog new station projects 2017 shaping similar 2016 bodes well continued growth fuel volumes nine months 2016 clean energy fuels reduced expenses several key categories data source clean energy fuels corp near end 2014 clean energy management started making expense reduction priority refueling operations compression equipment manufacturing business corporate costs paying significant portion longterm debt past 12 months first nine months 2016 company spent nearly 17 million less selling general administrative expense sgampa interest expense generating 41 million gross margin dollars due part improved efficiencies station construction compression equipmentmanufacturing segmentsthe company also spent nearly 17 million less capitalexpenditures looking ahead figures may sustainable would seem earnings call cfo bob vreeland said management doesnt expect significant changes current sgampa run rate comes interest expense amount actually going fall even writing company paid 234 million longterm debt reducing total debt associated interest expense going forward 40 lastly theres capital expenditures capex point future company need increase capital spending stations operate cofounder ceo andrew littlefair adamant wont build new stations speculation demand going forward identified need customers furthermore stations paid nearly 400 million capex past five years support significantly higher fuel volume currently delivering clean energy fuels may deliver another gaap opens new window loss year stage growth operating cash flows may important measure health operating cash flow shifted negative result 2015 43 million positive far year steady diet continued growth volumes leaner operations lower debt expense another strong year station projects already lined 2017 cash expenses set fall even clean energy fuels probably much better shape mister market seems realize forget 2016 election 10 stocks like better clean energy fuels donald trump elected president volatility heres ignore election investing geniuses tom david gardner spent long time beating market matter whos white house fact newsletter run decade motley fool stock advisor tripled market david tom revealed believe ten best stocks opens new window investors buy right clean energy fuels wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns november 7 2016 jason hall opens new window owns shares clean energy fuels jason hall following options long january 2017 5 calls clean energy fuels long january 2017 3 calls clean energy fuels motley fool owns shares recommends clean energy fuels 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 | 822 |
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<p>Investors pushed Alliance Resource Partners, L.P. (NASDAQ: ARLP)stock higher for most of 2016. In many ways, it's one of the best situated coal miners. However, the coal industry remains under extreme stress, and the outlook is still weak... overall. This miner's 2016 performance proves that.</p>
<p>Continue Reading Below</p>
<p>Here's why my forecast for Alliance regaining its mojo even if other miners continue to falter.</p>
<p>There's no question that coal has been hit pretty hard over the last few years, with major miners like Peabody Energy and Arch Coal tumbling into bankruptcy. For a long time Alliance Resource Partners managed to buck the general trend, increasing production from its Illinois Basin mines while competitors were forced to cut back. Alliance was, basically, stealing market share from miners in other regions like the Powder River Basin.</p>
<p>Image source: Alliance Resource Partners, L.P.</p>
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<p>That all changed in 2016, when Alliance had to dig in and focus on fundamental operations just like everyone else. Full-year coal production declined roughly 15% year over year in 2016 from 2015's record levels. Coal sales dipped by around 9%. Although a push toward clean power options like solar and wind has been an issue for coal, which is a heavy carbon polluter, the bigger problem has been cheap natural gas --it's has been gaining share in the utility industry at the expense of coal. The gains made by wind and solar are just adding insult to injury. But don't count coal out yet... and certainly don't give up on Alliance.</p>
<p>President Obama had a very aggressive environmental agenda that many in the coal space believed was focused on pushing coal out of the power picture. But even his plans couldn't completely remove coal, with the U.S. Energy Information Administration (EIA) projecting that coal use would decline but still fuel a significant portion of the electricity the U.S. generates through 2050.</p>
<p>But according to the EIA, if Obama-era clean power rules get rolled back, coal's share of the power market remains roughly stable through 2050. With Donald Trump now president, it looks increasingly likely that those environmental rules will at least be softened.</p>
<p>EIA projects coal remains a big energy player, even moreso if stringent environmental regulations get rolled back. Image source: U.S. Energy Information Administration.</p>
<p>Here's the thing: Alliance operates in the Illinois Basin coal region, which is in what the EIA calls the interior. Production from the interior has remained fairly constant through coal's downturn, while the other regions have seen material declines. That helps account for Alliance's ability to grow production through 2015. The EIA outlook with Obama-era regulations calls for production from the interior region to hold relatively steady through 2050 while the other regions continue to see declines.</p>
<p>If those regulations get rolled back, however, coal production from the interior is expected to grow, while the other major coal regions flatline. The takeaway from all of this is that even in the worst case scenario, Alliance Resource Partners is working in the best positioned coal region. In the best case, which is looking increasingly likely, Alliance could start expanding production again.</p>
<p>And that's why Alliance's fourth quarter performance should inspire some optimism. Despite the full year production decline, the coal miner's sales volume in the fourth quarter was near record levels. Couple that with cost reductions that have been put in place through the industry downturn, and EBITDA was up nearly 12% year over year (if you include one-time charges in the 2015 numbers, EBITDA was up 74%). In other words, even though coal is feeling some pain today, Alliance has adjusted its business and, dare I suggest it, is even doing pretty well given the circumstances. Maybe the miner never lost its mojo in the first place!</p>
<p>EIA sees vastly different futures for the major coal regions in the United States. Image source: U.S. Energy Information Administration.</p>
<p>There's no question that thermal coal still has some material headwinds to deal with, not the least of which is volatile commodity prices. But coal remains a key player in the future of energy, and Alliance Resource Partners is operating in one of the most desirable regions. The partnership's fourth quarter sales volume hints that the downturn may be abating, at least for Alliance's Illinois Basin coal.</p>
<p>If you are looking at the coal sector, Alliance should be on your short list. Sure, 2016 wasn't the best year for the business, but Alliance has managed the downturn in stride and looks poised to do relatively well even in the worst case scenario. If Trump holds true to his word and supports coal, however, there could be notable production growth in Alliance's future again.</p>
<p>10 stocks we like better than Alliance Resource PartnersWhen 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=025ab0bf-5b95-46ad-9a0a-f8281b1bf439&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">10 best stocks</a> for investors to buy right now... and Alliance Resource Partners 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=025ab0bf-5b95-46ad-9a0a-f8281b1bf439&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Click here</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/ReubenGBrewer/info.aspx" type="external">Reuben Brewer</a> has no position in any stocks mentioned. The Motley Fool recommends Alliance Resource Partners. 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</a>.</p> | true | 0 | investors pushed alliance resource partners lp nasdaq arlpstock higher 2016 many ways one best situated coal miners however coal industry remains extreme stress outlook still weak overall miners 2016 performance proves continue reading heres forecast alliance regaining mojo even miners continue falter theres question coal hit pretty hard last years major miners like peabody energy arch coal tumbling bankruptcy long time alliance resource partners managed buck general trend increasing production illinois basin mines competitors forced cut back alliance basically stealing market share miners regions like powder river basin image source alliance resource partners lp advertisement changed 2016 alliance dig focus fundamental operations like everyone else fullyear coal production declined roughly 15 year year 2016 2015s record levels coal sales dipped around 9 although push toward clean power options like solar wind issue coal heavy carbon polluter bigger problem cheap natural gas gaining share utility industry expense coal gains made wind solar adding insult injury dont count coal yet certainly dont give alliance president obama aggressive environmental agenda many coal space believed focused pushing coal power picture even plans couldnt completely remove coal us energy information administration eia projecting coal use would decline still fuel significant portion electricity us generates 2050 according eia obamaera clean power rules get rolled back coals share power market remains roughly stable 2050 donald trump president looks increasingly likely environmental rules least softened eia projects coal remains big energy player even moreso stringent environmental regulations get rolled back image source us energy information administration heres thing alliance operates illinois basin coal region eia calls interior production interior remained fairly constant coals downturn regions seen material declines helps account alliances ability grow production 2015 eia outlook obamaera regulations calls production interior region hold relatively steady 2050 regions continue see declines regulations get rolled back however coal production interior expected grow major coal regions flatline takeaway even worst case scenario alliance resource partners working best positioned coal region best case looking increasingly likely alliance could start expanding production thats alliances fourth quarter performance inspire optimism despite full year production decline coal miners sales volume fourth quarter near record levels couple cost reductions put place industry downturn ebitda nearly 12 year year include onetime charges 2015 numbers ebitda 74 words even though coal feeling pain today alliance adjusted business dare suggest even pretty well given circumstances maybe miner never lost mojo first place eia sees vastly different futures major coal regions united states image source us energy information administration theres question thermal coal still material headwinds deal least volatile commodity prices coal remains key player future energy alliance resource partners operating one desirable regions partnerships fourth quarter sales volume hints downturn may abating least alliances illinois basin coal looking coal sector alliance short list sure 2016 wasnt best year business alliance managed downturn stride looks poised relatively well even worst case scenario trump holds true word supports coal however could notable production growth alliances future 10 stocks like better alliance resource partnerswhen 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 investors buy right alliance resource partners wasnt one thats right think 10 stocks even better buys click learn picks stock advisor returns february 6 2017 reuben brewer position stocks mentioned motley fool recommends alliance resource partners motley fool disclosure policy | 558 |
<p>The rapid gunfire in Sunday night’s attack in <a href="/topics/las-vegas/" type="external">Las Vegas</a> sounded to many like a machine gun, adding a horrifying element to what have become all-too-frequent mass shootings in America.</p>
<p>Authorities said Monday evening that they had recovered 23 firearms the shooter had stockpiled in his hotel room, using them to rain death upon a country music festival on the ground outside the <a href="/topics/mandalay-bay/" type="external">Mandalay Bay</a> casino. Another 19 weapons were recovered from the Mesquite, Nevada, home of Stephen Craig Paddock.</p>
<p>Clark County Sheriff Joseph Lombardo said some of the weapons — ranging in caliber from the .223 associated with AR-15 style rifle to .308 associated with heavier tactical arms — appeared to have been mechanically converted to full automatic fire, though he said he wasn’t yet certain.</p>
<p><a href="/news/2017/oct/2/las-vegas-shooting-strains-hospitals/" type="external">SEE ALSO: Las Vegas hospitals shift into full gear for unprecedented medical crisis</a></p>
<p>“The ATF hasn’t evaluated them yet. But I don’t know if the [firing] pins have been filed or converted to fully automatic,” Sheriff Lombardo told reporters in <a href="/topics/las-vegas/" type="external">Las Vegas</a>.</p>
<p>Such mechanical retooling, although not difficult to accomplish, is illegal.</p>
<p>If he used a fully automatic weapon, it would be a first for mass shootings in modern American history.</p>
<p><a href="/news/2017/oct/2/donald-trump-responds-las-vegas-shooting-offers-co/" type="external">SEE ALSO: Trump responds to Las Vegas shooting, offers condolences</a></p>
<p>If Paddock used other legal after-market adaptions that enables rapid firing but are not full automatic, it would still raise all sorts of questions about the firepower available to citizens.</p>
<p>The police also recovered at least one AK-47 rifle with a bipod stand, scopes and a modified handgun in the hotel room, Sheriff Lombardo said.</p>
<p>Firearm experts who looked at video capturing the sound of the gunfire weren’t convinced the weapons were true machine guns.</p>
<p>“From the footage I saw, I could not determine conclusively it was a fully automatic weapon. It could have been something else that had a legal rapid-fire mechanism installed,” said Eileen Ferguson, owner of Carson Armory in Mound House, Nevada.</p>
<p>Her gun shop near Reno sells three or four machine guns a year. She said the approval process is onerous and machine guns for sale are scarce.</p>
<p>Fully automatic weapons fire continuously when the trigger is pulled. They haven’t been a weapon of choice in mass shootings. Instead, mass killers have opted for semi-automatic weapons that fire a single shot with each trigger pull.</p>
<p>Indeed, much of the gun control debate in recent years has focused on those semi-automatic, military-style weapons that opponents have dubbed “assault rifles.”</p>
<p>Proposals to curtail their sales and to limit the size of ammunition magazines have been offered and rejected in Congress.</p>
<p>Fully automatic machine guns, meanwhile, haven’t been a focus — chiefly because there are few in circulation. They are prohibitively expensive and heavily regulated by the federal government. A purchaser must submit a photograph and fingerprints and undergo an intensive background check before obtaining a $200 tax stamp.</p>
<p>“Right now, that investigation takes anywhere between 6 and 12 months. And once that person is approved, they are issued a special tax stamp, which allows them to possess one individual machine gun,” said Mrs. Ferguson. “It’s not a blanket approval. It is an approval that happens every time a person attempts to purchase a machine gun.”</p>
<p>Legislation signed by President Reagan in 1986 also effectively prohibited the manufacture of machine guns for civilian use.</p>
<p>As a result, pre-1986 machine guns are scarce outside of law enforcement and the military, and the cost typically is in the tens of thousands of dollars.</p>
<p>However, technologies have enabled gun owners to legally and often cheaply modify semi-automatic weapons to fire hundreds of rounds per minute.</p>
<p>A binary trigger fires a round when the trigger is pulled and when the trigger is released. Repeatedly pulling the trigger creates a spray of bullets.</p>
<p>The kit costs $300 to $400.</p>
<p>A semi-automatic rifle upgraded with a bump fire stock uses the gun’s recoil to squeeze off shots in rapid succession. It costs $100 to $300.</p>
<p>A trigger crank attaches to the trigger guard, rapidly pulling the trigger when the shooter turns the crank. Those can cost as little as $40.</p>
<p>“Semi-automatic is good enough — or worse enough,” said Tomer Israeli, a former Israeli Secret Service agent who runs a tactical shooting-training center in the Washington suburbs.</p>
<p>“It doesn’t have to be automatic to get results, and professionals know that automatic doesn’t get results sometimes. A semi-automatic can do a lot of damage,” he said.</p>
<p>The type of weapon used in the attack contributed to the tragedy, said Genghis Cohen, owners of Machine Gun Vegas, a shooting range in <a href="/topics/las-vegas/" type="external">Las Vegas</a> that rents fully automatic weapons for target practice.</p>
<p>“We believe, as we always have, that there should absolutely be more stringent control on the types of firearms,” the company said in a statement. “There were many factors contributing to this tragic event, but there is no doubt that the shooter’s ability to inflict so many casualties was heavily due to the types of weapons he had access to.”</p>
<p>Copyright © 2018 The Washington Times, LLC. <a href="http://license.icopyright.net/3.7280?icx_id=/news/2017/oct/2/las-vegas-shooting-sounded-like-full-automatic-mac/" type="external">Click here for reprint permission</a>.</p>
<p>&#160;</p> | true | 0 | rapid gunfire sunday nights attack las vegas sounded many like machine gun adding horrifying element become alltoofrequent mass shootings america authorities said monday evening recovered 23 firearms shooter stockpiled hotel room using rain death upon country music festival ground outside mandalay bay casino another 19 weapons recovered mesquite nevada home stephen craig paddock clark county sheriff joseph lombardo said weapons ranging caliber 223 associated ar15 style rifle 308 associated heavier tactical arms appeared mechanically converted full automatic fire though said wasnt yet certain see also las vegas hospitals shift full gear unprecedented medical crisis atf hasnt evaluated yet dont know firing pins filed converted fully automatic sheriff lombardo told reporters las vegas mechanical retooling although difficult accomplish illegal used fully automatic weapon would first mass shootings modern american history see also trump responds las vegas shooting offers condolences paddock used legal aftermarket adaptions enables rapid firing full automatic would still raise sorts questions firepower available citizens police also recovered least one ak47 rifle bipod stand scopes modified handgun hotel room sheriff lombardo said firearm experts looked video capturing sound gunfire werent convinced weapons true machine guns footage saw could determine conclusively fully automatic weapon could something else legal rapidfire mechanism installed said eileen ferguson owner carson armory mound house nevada gun shop near reno sells three four machine guns year said approval process onerous machine guns sale scarce fully automatic weapons fire continuously trigger pulled havent weapon choice mass shootings instead mass killers opted semiautomatic weapons fire single shot trigger pull indeed much gun control debate recent years focused semiautomatic militarystyle weapons opponents dubbed assault rifles proposals curtail sales limit size ammunition magazines offered rejected congress fully automatic machine guns meanwhile havent focus chiefly circulation prohibitively expensive heavily regulated federal government purchaser must submit photograph fingerprints undergo intensive background check obtaining 200 tax stamp right investigation takes anywhere 6 12 months person approved issued special tax stamp allows possess one individual machine gun said mrs ferguson blanket approval approval happens every time person attempts purchase machine gun legislation signed president reagan 1986 also effectively prohibited manufacture machine guns civilian use result pre1986 machine guns scarce outside law enforcement military cost typically tens thousands dollars however technologies enabled gun owners legally often cheaply modify semiautomatic weapons fire hundreds rounds per minute binary trigger fires round trigger pulled trigger released repeatedly pulling trigger creates spray bullets kit costs 300 400 semiautomatic rifle upgraded bump fire stock uses guns recoil squeeze shots rapid succession costs 100 300 trigger crank attaches trigger guard rapidly pulling trigger shooter turns crank cost little 40 semiautomatic good enough worse enough said tomer israeli former israeli secret service agent runs tactical shootingtraining center washington suburbs doesnt automatic get results professionals know automatic doesnt get results sometimes semiautomatic lot damage said type weapon used attack contributed tragedy said genghis cohen owners machine gun vegas shooting range las vegas rents fully automatic weapons target practice believe always absolutely stringent control types firearms company said statement many factors contributing tragic event doubt shooters ability inflict many casualties heavily due types weapons access copyright 2018 washington times llc click reprint permission 160 | 520 |
<p>Finance professor Lily Fang is known in the academic community for her research into the perils of investing in stocks with lots of media hype.</p>
<p>Even so, when she saw a barrage of attention paid to a tech-stock acronym that matched her surname, she couldn't resist.</p>
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<p>"I figured I had to own these stocks," Ms. Fang, who teaches at France's Insead business school, said of the popular quartet of Facebook Inc., Amazon.com Inc., Netflix Inc. and Alphabet Inc.'s Google. "I mean, it's my last name, so why not?"</p>
<p>The FANGs are among the market's leaders this year. Though they have collectively lost nearly $52 billion in market value in September--their worst month since June and just the second down month this year, the rout isn't deterring FANG fans.</p>
<p>Investors will soon have a new way to bet on the buzzy investing phenomenon. Intercontinental Exchange Inc., the parent of the New York Stock Exchange on Tuesday unveiled an NYSE FANG+ Index, made up of the four stocks and a few other tech highfliers. It plans to launch a new futures contract based on the index in November, subject to regulatory review.</p>
<p>In a financial world full of jargon and acronyms, from ROE to ETF, FANG's teeth seem to have sunk in far beyond Wall Street. The term--more Dracula than dividend--has resonated with retirees, millennials, analysts and market pundits.</p>
<p>And these tech companies have scorching stock prices that account for more than 12% of the S&amp;P 500's gains this year through Monday, even after the recent selloff.</p>
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<p>Stock-focused hedge funds are having their best year since 2009, due in part to outsize positions in FANG stocks. An investor who bought all four FANG stocks two years ago would be sitting on a 69% profit today.</p>
<p>The other FANGmania factor is how deeply entrenched these companies have become in people's lives.</p>
<p>Harold Katzman, a 78-year old retired ophthalmologist in Los Angeles, has a Netflix account and uses Facebook regularly. Last year, he trimmed his holdings of dividend-paying stocks like Procter &amp; Gamble Co. and General Mills Inc. to make room for the FANGs, which he considers more exciting.</p>
<p>"I'm not the kind of guy to put all my money on red in Vegas and see what happens, but in retrospect, I wish I had put more into FANGs," Mr. Katzman said. "Technology is going to be the saving grace for the U.S."</p>
<p>Internet search traffic for "FANG stocks" on Google has been elevated for months. International Investment, an online newsletter for financial professionals, added FANG to its compendium of investment acronyms in June.</p>
<p>"I think FANG will define our generation," said Ross Gerber, president and chief executive of Gerber Kawasaki Wealth &amp; Investment Management in Santa Monica, Calif. "These are the companies that, well, if you're not involved in them, you're not really an investor." All four FANG stocks are prominent in the portfolio of Mr. Gerber, whose firm has $645 million under management.</p>
<p>FANG was created as a humorous way to describe how investors were interested in just a handful of stocks, according to Jim Cramer, the television personality who claims to have coined the term a few years ago.</p>
<p>In 2015, Google reorganized into a holding company called Alphabet, effectively turning the "G" into an "A." Mr. Cramer said he emailed Ruth Porat, the company's chief financial officer, to tell her she had ruined FANG. He said he didn't hear back. Ms. Porat said she has no recollection of the event.</p>
<p>Over time, the FANG acronym stuck around. In June of this year, Christopher Girbes-Pierce, a Santa Monica, Calif.-based financial adviser, said he was at a birthday party attended by people who didn't have jobs in finance when someone brought up FANG.</p>
<p>"It sparked a whole conversation," he said, adding that among other things, people were excited about Amazon's acquisition of Whole Foods.</p>
<p>But not everyone is on the FANG wagon.</p>
<p>All the hype is a bit much for Joe Krier, a financial planner in Jacksonville, Fla. He says the euphoria around FANG is the "same way investors looked at dot-com stocks back in 1999."</p>
<p>Acronyms and their related investment concepts have a rich history. In the 1960s and 1970s, the Nifty Fifty--blue-chip stocks like Coca-Cola Co. and McDonald's Corp.--were the most popular stocks on the NYSE. In the early 2000s, Brazil, Russia, India and China were grouped together as BRIC, which condensed in an acronym the opportunities offered by the fastest-growing emerging economies.</p>
<p>The human mind latches onto acronyms because they tell a story, said Société Générale strategist Albert Edwards, who years ago stunned clients by saying BRIC stood for "Bloody Ridiculous Investment Concept."</p>
<p>The BRIC concept, created by former Goldman Sachs Group Inc. chief economist Jim O'Neill, has had its ups and downs. A Goldman fund set up in 2006 to focus on it initially rewarded investors with huge gains, but it plunged in value after China's economy slowed. Goldman closed the fund in 2015.</p>
<p>Mr. O'Neill defends his acronym and the concept behind it. BRIC "was an economic observation and prediction," he said. "FANG's got nothing to do with economics. It is just an acronym to describe highly fashionable stocks."</p>
<p>Ms. Fang, the academic and owner of FANG shares, in a research paper analyzed thousands of stocks from 1993 to 2002, a period that included the last internet bubble. She found that stocks with little or no media coverage earned higher returns than stocks with an overabundance of exposure.</p>
<p>"Less-touted stocks are more likely to be hidden gems," she said.</p>
<p>Still, she decided to scoop up FANG stocks, as well as Chinese internet stocks Alibaba Group Holding Ltd. and Tencent Holdings Ltd., because she saw them as industry leaders in large and growing markets. "When momentum is still unfolding, you want to ride that," she added.</p>
<p>The company that sports the actual FANG ticker symbol hasn't benefited at all from the mania. Shares of Diamondback Energy Inc., an oil-and-gas company, are down 3.9% this year.</p>
<p>That isn't lost on Diamondback's head of strategy and corporate development, Kaes Van't Hof, who regularly hears from his parents when FANG stocks are talked about on television.</p>
<p>"I'm like, 'I don't think they're talking about the same thing,'" he said.</p>
<p>Write to Steven Russolillo at [email protected] and Ben Eisen at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>September 27, 2017 07:05 ET (11:05 GMT)</p> | true | 0 | finance professor lily fang known academic community research perils investing stocks lots media hype even saw barrage attention paid techstock acronym matched surname couldnt resist continue reading figured stocks ms fang teaches frances insead business school said popular quartet facebook inc amazoncom inc netflix inc alphabet incs google mean last name fangs among markets leaders year though collectively lost nearly 52 billion market value septembertheir worst month since june second month year rout isnt deterring fang fans investors soon new way bet buzzy investing phenomenon intercontinental exchange inc parent new york stock exchange tuesday unveiled nyse fang index made four stocks tech highfliers plans launch new futures contract based index november subject regulatory review financial world full jargon acronyms roe etf fangs teeth seem sunk far beyond wall street termmore dracula dividendhas resonated retirees millennials analysts market pundits tech companies scorching stock prices account 12 sampp 500s gains year monday even recent selloff advertisement stockfocused hedge funds best year since 2009 due part outsize positions fang stocks investor bought four fang stocks two years ago would sitting 69 profit today fangmania factor deeply entrenched companies become peoples lives harold katzman 78year old retired ophthalmologist los angeles netflix account uses facebook regularly last year trimmed holdings dividendpaying stocks like procter amp gamble co general mills inc make room fangs considers exciting im kind guy put money red vegas see happens retrospect wish put fangs mr katzman said technology going saving grace us internet search traffic fang stocks google elevated months international investment online newsletter financial professionals added fang compendium investment acronyms june think fang define generation said ross gerber president chief executive gerber kawasaki wealth amp investment management santa monica calif companies well youre involved youre really investor four fang stocks prominent portfolio mr gerber whose firm 645 million management fang created humorous way describe investors interested handful stocks according jim cramer television personality claims coined term years ago 2015 google reorganized holding company called alphabet effectively turning g mr cramer said emailed ruth porat companys chief financial officer tell ruined fang said didnt hear back ms porat said recollection event time fang acronym stuck around june year christopher girbespierce santa monica califbased financial adviser said birthday party attended people didnt jobs finance someone brought fang sparked whole conversation said adding among things people excited amazons acquisition whole foods everyone fang wagon hype bit much joe krier financial planner jacksonville fla says euphoria around fang way investors looked dotcom stocks back 1999 acronyms related investment concepts rich history 1960s 1970s nifty fiftybluechip stocks like cocacola co mcdonalds corpwere popular stocks nyse early 2000s brazil russia india china grouped together bric condensed acronym opportunities offered fastestgrowing emerging economies human mind latches onto acronyms tell story said société générale strategist albert edwards years ago stunned clients saying bric stood bloody ridiculous investment concept bric concept created former goldman sachs group inc chief economist jim oneill ups downs goldman fund set 2006 focus initially rewarded investors huge gains plunged value chinas economy slowed goldman closed fund 2015 mr oneill defends acronym concept behind bric economic observation prediction said fangs got nothing economics acronym describe highly fashionable stocks ms fang academic owner fang shares research paper analyzed thousands stocks 1993 2002 period included last internet bubble found stocks little media coverage earned higher returns stocks overabundance exposure lesstouted stocks likely hidden gems said still decided scoop fang stocks well chinese internet stocks alibaba group holding ltd tencent holdings ltd saw industry leaders large growing markets momentum still unfolding want ride added company sports actual fang ticker symbol hasnt benefited mania shares diamondback energy inc oilandgas company 39 year isnt lost diamondbacks head strategy corporate development kaes vant hof regularly hears parents fang stocks talked television im like dont think theyre talking thing said write steven russolillo stevenrussolillowsjcom ben eisen beneisenwsjcom end dow jones newswires september 27 2017 0705 et 1105 gmt | 646 |
<p />
<p>Image source: Getty Images.</p>
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<p>Copying a billionaire's investment ideas isn't a surefire path to success, but it's not hard to see why stocks held by Warren Buffett and Berkshire Hathaway tend to attract some extra attention. Under Buffett's guidance, Berkshire stock has delivered an astounding 20.8% compound annual growth rate over the last 50 years -- a track record that makes a near irrefutable case for the Oracle of Omaha as one of the best investors in history.</p>
<p>With that incredible performance in mind, a panel of Motley Fool contributors has identified three stocks held by Berkshire Hathaway that deserve your attention this month. Read on to learn why Phillips 66(NYSE: PSX) , Southwest Airlines(NYSE: LUV), and IBM (NYSE: IBM) should be on your "Buy" list.</p>
<p><a href="http://my.fool.com/profile/TMFVelvetHammer/info.aspx" type="external">Jason Opens a New Window.</a> <a href="http://my.fool.com/profile/TMFVelvetHammer/info.aspx" type="external">Hall Opens a New Window.</a>(Phillips 66): There are a handful of things that Buffett has regularly touted as being very important for a company to be a great long-term investment:</p>
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<p>Phillips 66 has all three of these in spades.</p>
<p>The company's biggest business is oil refining and marketing, and oil refineries are incredibly expensive to build and maintain. Factor in a relatively slow rate of growth in demand for refined products, and it has been decades since a new major oil refinery was built in the U.S.</p>
<p>The barrier to entry doesn't get much higher. But at the same time, the stable demand for gasoline, jet fuel, diesel, and other refined products makes for steady cash flows. And since Phillips 66 has some of the most advanced refineries in operation, the company can often buy cheaper crudes and widen its refining profits.</p>
<p>Management has done a great job putting those profits to work growing the company and returning value to investors. Since going public as a stand-alone company in 2012, it has invested tens of billions of dollars in growth projects in its petrochemicals and midstream segments, grown its dividend over 200%, and repurchased over 17% of shares outstanding.</p>
<p>Why now? Shares are down about 9% year to date, and represent another important Buffett trait: being fairly valued, at about 17 times next year's earnings. This is a great time to buy this excellent dividend growth stock that checks off all the "Buffett stock" boxes.</p>
<p><a href="http://my.fool.com/profile/TMFGalagan/info.aspx" type="external">Dan Caplinger Opens a New Window.</a> (Southwest Airlines): Buffett just bought shares of Southwest Airlines during the fourth quarter of 2016, but he didn't waste any time building up a substantial position. As of Dec. 31, Buffett held more than 43.2 million shares of the company, which, at the time, was worth more than $2.15 billion, and has since climbed even higher.</p>
<p>What's remarkable about Buffett's position is that he has famously said in the past that the airline sector was essentially a money pit. Yet the industry has come a long way since he made his negative comments.</p>
<p>Consolidation has reduced the number of major U.S. players to just four, and Southwest still stands alone in many ways, including an aversion to having its flights listed on third-party online travel websites and its commitment not to charge baggage fees. Investors are increasingly confident that Southwest and its peers will maintain discipline, not just with fares, but also in keeping capacity relatively tight in order to keep planes full and profits high.</p>
<p>Recently, Southwest has expanded its reach internationally, looking southward toward Central America and the Caribbean. How far Southwest intends to grow isn't certain right now, but the airline has a strong reputation for customer friendliness and value, and that should help the airline stock stay ahead of its peers in the long run.</p>
<p><a href="http://my.fool.com/profile/keithnoonan/info.aspx" type="external">Keith Noonan Opens a New Window.</a>(IBM): IBM stock has lagged the market since Buffett and Berkshire initiated a position back in 2011, but it looks like the company is turning a corner, and I think investors still have an opportunity to win big with Big Blue.</p>
<p><a href="http://ycharts.com/companies/IBM" type="external">IBM</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>Even with IBM's share price up more than 30% over the last year, the stock trades at just 13 times forward earnings estimates, and there's evidence to support the thesis that it can reinvent itself as a cloud and cognitive computing company.</p>
<p>Big Blue's "strategic imperatives" segment, which covers its cloud, artificial intelligence, security, mobile, and Internet-of-Things businesses, grew 14% on a constant-currency basis in fiscal 2016, and now accounts for more than 40% of the company's sales. Overall revenues have been in decline and contributed to soggy stock performance over the last five years. It's true that IBM's legacy hardware and software businesses will likely continue to erode, but the company is in a position to benefit from momentum in some of technology's biggest trends.</p>
<p>IBM's big bet on cognitive computing and the cloud is already paying off, and it looks like momentum will be sustainable, thanks to increasingly complex security, analytics, and networking demands. Thestock also scores points for its 3.1% dividend yield and a roughly 41% payout ratio. Combine that with 17 years of consecutive payout increases, and investors can expect continued payout growth.</p>
<p>With momentum in emerging technologies, a history of innovation, and a strong returned-income component, IBM looks to be a good company at a better-than-fair price.</p>
<p>10 stocks we like better than IBMWhen 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=3e5b609f-137c-4bee-bf1e-2b55bbc904e0&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 IBM 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=3e5b609f-137c-4bee-bf1e-2b55bbc904e0&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/TMFGalagan/info.aspx" type="external">Dan Caplinger</a> owns shares of Berkshire Hathaway (B shares). <a href="http://my.fool.com/profile/elihpaudio/info.aspx" type="external">Jason Hall Opens a New Window.</a> owns shares of Berkshire Hathaway (B shares) and Phillips 66. <a href="http://my.fool.com/profile/keithnoonan/info.aspx" type="external">Keith Noonan</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B 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;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | image source getty images continue reading copying billionaires investment ideas isnt surefire path success hard see stocks held warren buffett berkshire hathaway tend attract extra attention buffetts guidance berkshire stock delivered astounding 208 compound annual growth rate last 50 years track record makes near irrefutable case oracle omaha one best investors history incredible performance mind panel motley fool contributors identified three stocks held berkshire hathaway deserve attention month read learn phillips 66nyse psx southwest airlinesnyse luv ibm nyse ibm buy list jason opens new window hall opens new windowphillips 66 handful things buffett regularly touted important company great longterm investment advertisement phillips 66 three spades companys biggest business oil refining marketing oil refineries incredibly expensive build maintain factor relatively slow rate growth demand refined products decades since new major oil refinery built us barrier entry doesnt get much higher time stable demand gasoline jet fuel diesel refined products makes steady cash flows since phillips 66 advanced refineries operation company often buy cheaper crudes widen refining profits management done great job putting profits work growing company returning value investors since going public standalone company 2012 invested tens billions dollars growth projects petrochemicals midstream segments grown dividend 200 repurchased 17 shares outstanding shares 9 year date represent another important buffett trait fairly valued 17 times next years earnings great time buy excellent dividend growth stock checks buffett stock boxes dan caplinger opens new window southwest airlines buffett bought shares southwest airlines fourth quarter 2016 didnt waste time building substantial position dec 31 buffett held 432 million shares company time worth 215 billion since climbed even higher whats remarkable buffetts position famously said past airline sector essentially money pit yet industry come long way since made negative comments consolidation reduced number major us players four southwest still stands alone many ways including aversion flights listed thirdparty online travel websites commitment charge baggage fees investors increasingly confident southwest peers maintain discipline fares also keeping capacity relatively tight order keep planes full profits high recently southwest expanded reach internationally looking southward toward central america caribbean far southwest intends grow isnt certain right airline strong reputation customer friendliness value help airline stock stay ahead peers long run keith noonan opens new windowibm ibm stock lagged market since buffett berkshire initiated position back 2011 looks like company turning corner think investors still opportunity win big big blue ibm data ycharts opens new window even ibms share price 30 last year stock trades 13 times forward earnings estimates theres evidence support thesis reinvent cloud cognitive computing company big blues strategic imperatives segment covers cloud artificial intelligence security mobile internetofthings businesses grew 14 constantcurrency basis fiscal 2016 accounts 40 companys sales overall revenues decline contributed soggy stock performance last five years true ibms legacy hardware software businesses likely continue erode company position benefit momentum technologys biggest trends ibms big bet cognitive computing cloud already paying looks like momentum sustainable thanks increasingly complex security analytics networking demands thestock also scores points 31 dividend yield roughly 41 payout ratio combine 17 years consecutive payout increases investors expect continued payout growth momentum emerging technologies history innovation strong returnedincome component ibm looks good company betterthanfair price 10 stocks like better ibmwhen 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 ibm wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns february 6 2017 dan caplinger owns shares berkshire hathaway b shares jason hall opens new window owns shares berkshire hathaway b shares phillips 66 keith noonan position stocks mentioned motley fool owns shares recommends berkshire hathaway b shares motley fool disclosure policy opens new window | 624 |
<p>Facebook Inc. dismantled a popular anonymous discussion board for employees last year that had become a forum for conservative political debate that sometimes degenerated into racist or sexist comments, people familiar with the matter said, a rare move to censor speech internally.</p>
<p>FB Anon, the name of the forum shut down in December and reported on Wednesday, became a hub for employees who backed Donald Trump's candidacy, the people said. Before the election, the group put up posters across campus that read "Trump Supporters Welcome."</p>
<p>Continue Reading Below</p>
<p>But FB Anon also attracted comments that many employees found offensive, the people said. For example, some posts last year said Facebook lowered the bar to attract female engineers to boost its diversity numbers, one of the people said, provoking angry responses from others in the chat room.</p>
<p>"A cornerstone of our culture is being open," said Lori Goler, Facebook's head of people, in a statement Wednesday. "The FB Anon internal Facebook group violated our terms of service, which require people who use Facebook (including our employees) to use an authentic identity on our platform."</p>
<p>In explaining the decision in early 2017, Chief Executive Mark Zuckerberg told employees that FB Anon contained harassing messages, according to one of the people.</p>
<p>At the time, Facebook reminded employees that there were other forums where they could discuss confidential matters, but not anonymously.</p>
<p>The disabling of the board illustrates Facebook's struggle to cultivate open, freewheeling debate, while still following company rules of decency to not alienate employees with racist and sexist views. The internal challenges mirror the social-media company's difficulties in policing speech and extremist views on its broader platform, used by more than two billion people a month.</p>
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<p>Some employees disagreed with Facebook's move, even if they found some views expressed on FB Anon offensive. There was "lots of information that you would not have had otherwise," one of the people said.</p>
<p>The clampdown on the anonymous forum echoes the recent controversy at Alphabet Inc.'s Google after an engineer was fired for suggesting in a lengthy memo that men are better suited for tech jobs than women. The engineer, James Damore, has said he felt Google suppressed discussion of his views.</p>
<p>Similar to Google, Facebook prides itself on an open culture that welcomes criticism and debate among employees. It is common for Facebook employees to raise difficult topics directly to Mr. Zuckerberg during his weekly question-and-answer sessions and even more so in internal discussion boards, created for employees to discuss topics ranging from the cafeteria food to projects, current and former employees say.</p>
<p>Facebook Inc. dismantled a popular anonymous discussion board for employees last year that had become a forum for conservative political debate that sometimes degenerated into racist or sexist comments, people familiar with the matter said, a rare move to censor speech internally.</p>
<p>FB Anon, the name of the forum shut down in December and reported on Wednesday, became a hub for employees who backed Donald Trump's candidacy, the people said. Before the election, the group put up posters across campus that read "Trump Supporters Welcome."</p>
<p>But FB Anon also attracted comments that many employees found offensive, the people said. For example, some posts last year said Facebook lowered the bar to attract female engineers to boost its diversity numbers, one of the people said, provoking angry responses from others in the chat room.</p>
<p>"A cornerstone of our culture is being open," said Lori Goler, Facebook's head of people, in a statement Wednesday. "The FB Anon internal Facebook group violated our terms of service, which require people who use Facebook (including our employees) to use an authentic identity on our platform."</p>
<p>In explaining the decision in early 2017, Chief Executive Mark Zuckerberg told employees that FB Anon contained harassing messages, according to one of the people.</p>
<p>At the time, Facebook reminded employees that there were other forums where they could discuss confidential matters, but not anonymously.</p>
<p>The disabling of the board illustrates Facebook's struggle to cultivate open, freewheeling debate, while still following company rules of decency to not alienate employees with racist and sexist views. The internal challenges mirror the social-media company's difficulties in policing speech and extremist views on its broader platform, used by more than two billion people a month.</p>
<p>Some employees disagreed with Facebook's move, even if they found some views expressed on FB Anon offensive. There was "lots of information that you would not have had otherwise," one of the people said.</p>
<p>The clampdown on the anonymous forum echoes the recent controversy at Alphabet Inc.'s Google after an engineer was fired for suggesting in a lengthy memo that men are better suited for tech jobs than women. The engineer, James Damore, has said he felt Google suppressed discussion of his views.</p>
<p>Similar to Google, Facebook prides itself on an open culture that welcomes criticism and debate among employees. It is common for Facebook employees to raise difficult topics directly to Mr. Zuckerberg during his weekly question-and-answer sessions and even more so in internal discussion boards, created for employees to discuss topics ranging from the cafeteria food to projects, current and former employees say.</p>
<p>For example, many employees had criticized Mr. Zuckerberg's decision to leave up Mr. Trump's Facebook posts about banning Muslims from entering the U.S., even though the posts qualified as hate speech under Facebook's content guidelines.</p>
<p>Facebook executives, including Mr. Zuckerberg, have tried to cultivate ideological diversity within the company, especially after a May 2016 report said curators of Facebook's "trending topics" feature suppressed news from conservative sources.</p>
<p>The decision to disable anonymous posting came in the wake of last year's presidential election, which sparked debate among the company's liberal employees, many of whom openly lamented Facebook's failure to uproot fabricated news articles in the run-up to the election, the people said.</p>
<p>Built by Facebook employees as a side project a couple of years ago, FB Anon became a forum for Facebook employees to air grievances or share information that could get them in trouble.</p>
<p>One year, someone shared on FB Anon a spreadsheet with detailed compensation information across Facebook, sparking an internal controversy over pay differences between technical and nontechnical employees, some of the people familiar said.</p>
<p>Last year, some posts within FB Anon said code written by women was rejected more often than code written by men because Facebook lowers the bar for female engineers so it can improve its diversity numbers, one of the people said. The comment was in response to debate on FB Anon about a female engineer's analysis showing a discrepancy in code rejections by gender. Facebook rejected the engineer's conclusion after doing its own assessment.</p>
<p>One casualty of the disabling of anonymous posting was a second anonymous page, meant for women and minorities to air grievances without retribution. It contained few offensive posts, others said.</p>
<p>Some details of the anonymous forums were first reported by news site Business Insider.</p>
<p>Write to Deepa Seetharaman at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>August 16, 2017 21:00 ET (01:00 GMT)</p> | true | 0 | facebook inc dismantled popular anonymous discussion board employees last year become forum conservative political debate sometimes degenerated racist sexist comments people familiar matter said rare move censor speech internally fb anon name forum shut december reported wednesday became hub employees backed donald trumps candidacy people said election group put posters across campus read trump supporters welcome continue reading fb anon also attracted comments many employees found offensive people said example posts last year said facebook lowered bar attract female engineers boost diversity numbers one people said provoking angry responses others chat room cornerstone culture open said lori goler facebooks head people statement wednesday fb anon internal facebook group violated terms service require people use facebook including employees use authentic identity platform explaining decision early 2017 chief executive mark zuckerberg told employees fb anon contained harassing messages according one people time facebook reminded employees forums could discuss confidential matters anonymously disabling board illustrates facebooks struggle cultivate open freewheeling debate still following company rules decency alienate employees racist sexist views internal challenges mirror socialmedia companys difficulties policing speech extremist views broader platform used two billion people month advertisement employees disagreed facebooks move even found views expressed fb anon offensive lots information would otherwise one people said clampdown anonymous forum echoes recent controversy alphabet incs google engineer fired suggesting lengthy memo men better suited tech jobs women engineer james damore said felt google suppressed discussion views similar google facebook prides open culture welcomes criticism debate among employees common facebook employees raise difficult topics directly mr zuckerberg weekly questionandanswer sessions even internal discussion boards created employees discuss topics ranging cafeteria food projects current former employees say facebook inc dismantled popular anonymous discussion board employees last year become forum conservative political debate sometimes degenerated racist sexist comments people familiar matter said rare move censor speech internally fb anon name forum shut december reported wednesday became hub employees backed donald trumps candidacy people said election group put posters across campus read trump supporters welcome fb anon also attracted comments many employees found offensive people said example posts last year said facebook lowered bar attract female engineers boost diversity numbers one people said provoking angry responses others chat room cornerstone culture open said lori goler facebooks head people statement wednesday fb anon internal facebook group violated terms service require people use facebook including employees use authentic identity platform explaining decision early 2017 chief executive mark zuckerberg told employees fb anon contained harassing messages according one people time facebook reminded employees forums could discuss confidential matters anonymously disabling board illustrates facebooks struggle cultivate open freewheeling debate still following company rules decency alienate employees racist sexist views internal challenges mirror socialmedia companys difficulties policing speech extremist views broader platform used two billion people month employees disagreed facebooks move even found views expressed fb anon offensive lots information would otherwise one people said clampdown anonymous forum echoes recent controversy alphabet incs google engineer fired suggesting lengthy memo men better suited tech jobs women engineer james damore said felt google suppressed discussion views similar google facebook prides open culture welcomes criticism debate among employees common facebook employees raise difficult topics directly mr zuckerberg weekly questionandanswer sessions even internal discussion boards created employees discuss topics ranging cafeteria food projects current former employees say example many employees criticized mr zuckerbergs decision leave mr trumps facebook posts banning muslims entering us even though posts qualified hate speech facebooks content guidelines facebook executives including mr zuckerberg tried cultivate ideological diversity within company especially may 2016 report said curators facebooks trending topics feature suppressed news conservative sources decision disable anonymous posting came wake last years presidential election sparked debate among companys liberal employees many openly lamented facebooks failure uproot fabricated news articles runup election people said built facebook employees side project couple years ago fb anon became forum facebook employees air grievances share information could get trouble one year someone shared fb anon spreadsheet detailed compensation information across facebook sparking internal controversy pay differences technical nontechnical employees people familiar said last year posts within fb anon said code written women rejected often code written men facebook lowers bar female engineers improve diversity numbers one people said comment response debate fb anon female engineers analysis showing discrepancy code rejections gender facebook rejected engineers conclusion assessment one casualty disabling anonymous posting second anonymous page meant women minorities air grievances without retribution contained offensive posts others said details anonymous forums first reported news site business insider write deepa seetharaman deepaseetharamanwsjcom end dow jones newswires august 16 2017 2100 et 0100 gmt | 752 |
<p />
<p>Cannabis prices are going to pot.</p>
<p>Continue Reading Below</p>
<p>As increasingly more marijuana growers entered the market and more states allowed residents to legally grow marijuana, cannabis prices dropped throughout 2016. Wholesale marijuana prices late in the year were roughly half the levels of 12 months earlier. Will this trend continue -- and possibly hurt leading marijuana stocks including Aphria (NASDAQOTH: APHQF),Aurora Cannabis (NASDAQOTH: ACBFF), Medical Marijuana,Inc.(NASDAQOTH: MJNA), and even GW Pharmaceuticals (NASDAQ: GWPH) in the process?</p>
<p>Image source: Getty Images.</p>
<p>Most marijuana stocks don't seem to have experienced any negative effects from falling cannabis prices so far. For some, the reason is simple: Cannabis prices haven't plunged in their markets.</p>
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<p>Aphria and Aurora, for example, operate in Canada. The medical marijuana companies' stocks have more than quadrupled over the past 12 months. However, the dynamics of the Canadian market are quite different than in the U.S.</p>
<p>Canada allows use of medical marijuana but places restrictions on such usage. Patients must receive authorization by a healthcare practitioner to obtain marijuana for medical purposes. Canadians can grow limited amounts of marijuana for medical use, but any purchases must be made from licensed distributors such as Aphria and Aurora.</p>
<p>Medical Marijuana, Inc., however, does provide marijuana in the U.S., where cannabis prices have fallen. Nonetheless, the company's stock is up almost 400% in the last 12 months. Cannabis prices might be down in general, but Medical Marijuana's market size has grown even more thanks to more states legalizing marijuana.</p>
<p>You wouldn't expect GW Pharmaceuticals' stock price to be impacted one way or the other by wholesale marijuana prices. The biotech doesn't yet have a product on the market in the U.S. Positive clinical results for its experimental cannabinoid drug Epidiolex and anticipation of potential U.S. regulatory approval in the not-too-distant future, though, have caused GW Pharmaceuticals' shares to more than double over the last year.</p>
<p>Just because marijuana stocks haven't been impacted by falling marijuana prices yet doesn't mean they won't be affected at all. The law of supply and demand applies to cannabis just as it does to any other product.</p>
<p>The impressive performance of marijuana stocks has been made possible because of a rapidly expanding market. Legalization of marijuana in many states across the U.S. has driven demand higher. As growers jumped into the market to meet this demand, the wholesale price for cannabis came down -- just as the law of supply and demand dictates.</p>
<p>However, companies were still able to make a lot more money because of the increased volume. The higher earnings (and expected earnings potential) pushed marijuana stock prices upward.Can this continue indefinitely? Not for every stock.</p>
<p>Image source: Getty Images.</p>
<p>What will happen eventually is that demand won't grow as quickly as it has over the last year or so. With too many marijuana growers in the market, there could even be a glut at some point. If this happens, you can count on the prices of many marijuana stocks to fall. Some companies that are raking in the cash now could even go out of business.</p>
<p>This same scenario could play out in Canada as well. Over the next several months, the Canadian government will evaluate legalizing marijuana in the country. If this legalization occurs, we'll see the law of supply and demand work north of the border just like it does in the U.S.</p>
<p>What about biotechs like GW Pharmaceuticals that develop cannabinoid drugs? There's still a possibility that even GW could be impacted by falling cannabis prices. If the cost of cannabidiol (the active ingredient of Epidiolex) becomes low enough, it could potentially be cheaper for patients to buy from companies like Medical Marijuana instead of a prescription drug.</p>
<p>Marijuana prices probably won't drop in a steady fashion. There will be fluctuations, just as there are with any agricultural crop. However, prices will continue to fall if supply outstrips demand.</p>
<p>I don't think, however, that cannabis prices will drop enough to significantly impact GW Pharmaceuticals' prospects with Epidiolex. Assuming the company gains regulatory approval for the epilepsy drug and gets payers to cover it, patients will probably pay less out of pocket for Epidiolex than they would pay for cannabidiol products that didn't go through the Food and Drug Administration approval process.</p>
<p>The long-term fates of other marijuana stocks, including Aphria, Aurora Cannabis, and Medical Marijuana, will depend on how well the companies differentiate their products from others on the market. Falling prices indicate that marijuana is being commoditized. The best ways to compete in a commodity market are to innovate and differentiate. Smart investors looking to buy marijuana stocks will want to find ones that are already setting themselves apart from the crowd.</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/TMFFishBiz/info.aspx" type="external">Keith Speights Opens a New Window.</a> has no position in any stocks mentioned. 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 | cannabis prices going pot continue reading increasingly marijuana growers entered market states allowed residents legally grow marijuana cannabis prices dropped throughout 2016 wholesale marijuana prices late year roughly half levels 12 months earlier trend continue possibly hurt leading marijuana stocks including aphria nasdaqoth aphqfaurora cannabis nasdaqoth acbff medical marijuanaincnasdaqoth mjna even gw pharmaceuticals nasdaq gwph process image source getty images marijuana stocks dont seem experienced negative effects falling cannabis prices far reason simple cannabis prices havent plunged markets advertisement aphria aurora example operate canada medical marijuana companies stocks quadrupled past 12 months however dynamics canadian market quite different us canada allows use medical marijuana places restrictions usage patients must receive authorization healthcare practitioner obtain marijuana medical purposes canadians grow limited amounts marijuana medical use purchases must made licensed distributors aphria aurora medical marijuana inc however provide marijuana us cannabis prices fallen nonetheless companys stock almost 400 last 12 months cannabis prices might general medical marijuanas market size grown even thanks states legalizing marijuana wouldnt expect gw pharmaceuticals stock price impacted one way wholesale marijuana prices biotech doesnt yet product market us positive clinical results experimental cannabinoid drug epidiolex anticipation potential us regulatory approval nottoodistant future though caused gw pharmaceuticals shares double last year marijuana stocks havent impacted falling marijuana prices yet doesnt mean wont affected law supply demand applies cannabis product impressive performance marijuana stocks made possible rapidly expanding market legalization marijuana many states across us driven demand higher growers jumped market meet demand wholesale price cannabis came law supply demand dictates however companies still able make lot money increased volume higher earnings expected earnings potential pushed marijuana stock prices upwardcan continue indefinitely every stock image source getty images happen eventually demand wont grow quickly last year many marijuana growers market could even glut point happens count prices many marijuana stocks fall companies raking cash could even go business scenario could play canada well next several months canadian government evaluate legalizing marijuana country legalization occurs well see law supply demand work north border like us biotechs like gw pharmaceuticals develop cannabinoid drugs theres still possibility even gw could impacted falling cannabis prices cost cannabidiol active ingredient epidiolex becomes low enough could potentially cheaper patients buy companies like medical marijuana instead prescription drug marijuana prices probably wont drop steady fashion fluctuations agricultural crop however prices continue fall supply outstrips demand dont think however cannabis prices drop enough significantly impact gw pharmaceuticals prospects epidiolex assuming company gains regulatory approval epilepsy drug gets payers cover patients probably pay less pocket epidiolex would pay cannabidiol products didnt go food drug administration approval process longterm fates marijuana stocks including aphria aurora cannabis medical marijuana depend well companies differentiate products others market falling prices indicate marijuana commoditized best ways compete commodity market innovate differentiate smart investors looking buy marijuana stocks want find ones already setting apart crowd 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 keith speights opens new window position stocks mentioned motley fool position stocks mentioned motley fool disclosure policy opens new window | 554 |
<p>Barnes &amp; Noble tumbles after results</p>
<p>U.S. stocks rose on Thursday, with major equity indexes hitting records as investors grew more optimistic about the prospects for a tax overhaul out of Washington.</p>
<p>Continue Reading Below</p>
<p>The Dow broke above 24,000 for the first time in its history (http://www.marketwatch.com/story/dow-industrials-trade-above-24000-for-first-time-2017-11-30) and was poised for its longest streak of monthly gains in more than 20 years. Meanwhile, major tech stocks, which took a battering in the prior session, showed signs of recuperating from that selloff.</p>
<p>What are the main benchmarks doing?</p>
<p>The Dow Jones Industrial Average rose 234 points, or 1.2%, to 24,217, and was on track for both its biggest one-day percentage increase since September, as well as its fifth straight daily rise. The S&amp;P 500 index was up 25 points to 2,651, a gain of 0.9%. Both were at records.</p>
<p>The Nasdaq Composite Index was up 58 points, or 0.9%, to 6,882. The tech-heavy index, pressured after its worst session in three months (http://www.marketwatch.com/story/dow-industrials-poised-to-climb-closer-to-24000-milestone-2017-11-29) on Wednesday, was about 0.5% below its own record.</p>
<p>The Russell 2000 index of small-cap stocks rose 0.3%, but it also touched a record in early trading (http://www.marketwatch.com/story/russell-2000-hits-record-on-tax-reform-optimism-2017-11-30).</p>
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<p>The day's gains were broad, with all 11 of the S&amp;P 500's primary sectors in positive territory for the day. However, energy shares were among the biggest gainers, up 1.2%. Financial stocks rose 1.2%.</p>
<p>Read:Highflying tech stocks fall back toward earth (http://www.marketwatch.com/story/chipmaker-tech-selloff-drags-on-broader-market-2017-11-29)</p>
<p>What are the moves for the month?</p>
<p>For November so far, the Dow industrials are looking at a gain of around 3.6%. That would be the eighth-straight monthly win, the longest such streak since July 1995.</p>
<p>The S&amp;P 500 is eyeing a monthly rise of roughly 2.9%. It also looks set to nail an eight-month winning streak, the longest such run since January 2007.</p>
<p>The Nasdaq is poised for a 2.3% advance. That would be its fifth month of rises in a row and the longest such winning streak since May 2017.</p>
<p>The year itself has been a blockbuster for stocks, with the three major indexes gaining between 18% and 27% for the year, driven by economic expansion, upbeat corporate profits, lack of competition from other assets and hopes that the Trump administration and Congress will deliver on tax cuts.</p>
<p>Read: Goldman says highest valuations since 1900 leave investors in for a world of hurt (http://www.marketwatch.com/story/goldman-says-highest-valuations-since-1900-leave-investors-in-for-a-world-of-hurt-2017-11-29)</p>
<p>What could help drive the market?</p>
<p>Optimism was building ahead of a Senate vote on a Republican-backed tax bill, which could take place by Thursday evening. On Wednesday, the Senate voted to open a formal debate on the proposed tax changes (http://www.marketwatch.com/story/senate-votes-to-open-debate-on-tax-bill-as-corporate-rate-still-up-in-the-air-2017-11-29).</p>
<p>In the latest economic data, jobless claims came in under forecasts in the latest week (http://www.marketwatch.com/story/jobless-claims-fall-slightly-in-thanksgiving-week-layoffs-remain-near-45-year-low-2017-11-30), while layoffs remain near 45-year lows. Separately, consumer spending rose 0.3% in October (http://www.marketwatch.com/story/consumers-keep-on-spending-in-october-aided-by-rising-incomes-and-low-inflation-2017-11-30), slightly above the 0.2% forecast.</p>
<p>Don't miss:Automation could impact 375 million jobs by 2030, new study suggests (http://www.marketwatch.com/story/automation-could-impact-375-million-jobs-by-2030-new-study-suggests-2017-11-29)</p>
<p>Dallas Federal Reserve President Rob Kaplan will discuss real estate in a question-and-answer session at the Real Estate Council Speaking Series at 1 p.m. Eastern.</p>
<p>What are strategists saying?</p>
<p>"What had lifted the market in the first part of the year was an ever-improving economy and profitability. It wasn't about the prospect for tax reform. What you're seeing now, however, is the next leg where tax reform starts to get baked in. If you bake in what tax reform means, the market doesn't look pricey," said Alicia Levine, investment strategist at BNY Mellon Investment Management.</p>
<p>"There are still a lot of details we don't know, but if the corporate tax rate is moved down near 20%, you'd be adding $10 per share to S&amp;P 500 earnings. If you do that, valuations are not out of whack with what growth rates will be."</p>
<p>Which stocks look like key movers?</p>
<p>The so-called FAANG stocks, hard hit on Wednesday, showed signs of a rebound. Facebook (FB) and Amazon.com (AMZN) rose more than 1% while Netflix Inc. (NFLX) was up 0.8%. Apple (AAPL) rose 0.9%.</p>
<p>Shares of Juniper Networks Inc.(JNPR) fell 5.5% after Nokia Corp.(NOK) (NOK) denied it was interested in acquiring the networking company (http://www.marketwatch.com/story/nokia-denies-juniper-acquisition-interest-2017-11-29).</p>
<p>Barnes &amp; Noble Inc.(BKS) tumbled 12% after the company reported a second-quarter loss that was wider than expected (http://www.marketwatch.com/story/barnes-nobles-stock-plunges-after-losses-widen-more-than-expected-2017-11-30).</p>
<p>Kroger Co.(KR) jumped 8.9% after third-quarter earnings came in ahead of analyst expectations (http://www.marketwatch.com/story/kroger-shares-jump-5-on-better-than-expected-earnings-2017-11-30).</p>
<p>L Brands Inc.(LB), the parent company of Victoria's Secret, rose 8.5% after reporting November same-store sales (http://www.marketwatch.com/story/victorias-secret-parent-l-brands-shares-slide-2-premarket-after-nov-same-store-sales-fall-1-2017-11-30).</p>
<p>What are other assets doing?</p>
<p>European stocks advanced (http://www.marketwatch.com/story/european-stocks-climb-for-3rd-day-as-credit-suisse-propels-bank-rally-2017-11-30), thanks to gains for bank stocks. But Asian markets had a largely weaker day, as a U.S. tech selloff hit related shares in Asia hard (http://www.marketwatch.com/story/chip-stock-malaise-spreads-to-asia-dragging-down-markets-2017-11-29).</p>
<p>Energy shares will likely be in focus as members of the Organization of the Petroleum Exporting Countries and other major oil producers are meeting in Vienna Thursday, and traders are optimistic the meeting will produce an extension to a deal to cut global output that expires in March. Oil futures (http://www.marketwatch.com/story/oil-prices-inch-higher-with-opec-meeting-in-focus-2017-11-30) were rising, with Brent oil seeing the bulk of the gains ahead of the outcome of the OPEC meeting.</p>
<p>"Energy stocks have been underperforming the commodity lately, and that is very rare. I think that reflects that the market is pricing in not only a robust supply from U.S. fracking producers, but also a turn in demand that has nothing to do with the economy, but with auto companies moving toward electric," Levine said.</p>
<p>Among major energy companies, Exxon Mobil (XOM) rose 1.2% while Chevron Corp.(CVX) was up 1%.</p>
<p>Read: Russia riles OPEC plans for a longer oil production-cut extension (http://www.marketwatch.com/story/russia-riles-opec-plans-for-a-longer-production-cut-extension-2017-11-29)</p>
<p>(http://www.marketwatch.com/story/russia-riles-opec-plans-for-a-longer-production-cut-extension-2017-11-29)A key U.S. dollar index was trading higher, largely due to gains for the greenback against the Japanese yen . But the index was set for its worst monthly loss since July (http://www.marketwatch.com/story/pound-rallies-on-brexit-hopes-as-dollar-looks-at-biggest-monthly-drop-since-july-2017-11-30). Meanwhile, the British pound continued to move higher amid rising optimism over Brexit negotiations.</p>
<p>Read:FTSE 100 slides to 2-month low as pound rallies on Brexit hopes (http://www.marketwatch.com/story/ftse-100-slides-to-2-month-low-as-pound-rallies-on-brexit-hopes-2017-11-30)</p>
<p>Gold futures were modestly off.</p>
<p>Bitcoin prices were down nearly 4% to $9,731.53, after trading above $10,000 in Asia. A partial outage on digital currency exchanges such as Coinbase caused bitcoin prices to whipsaw on Wednesday, (http://www.marketwatch.com/story/outage-on-bitcoin-exchange-hits-prices-2017-11-29) with the price of one bitcoin dropping $2,000 from above $11,000, then recovering to just under $10,000 by late afternoon.</p>
<p>(END) Dow Jones Newswires</p>
<p>November 30, 2017 12:37 ET (17:37 GMT)</p> | true | 0 | barnes amp noble tumbles results us stocks rose thursday major equity indexes hitting records investors grew optimistic prospects tax overhaul washington continue reading dow broke 24000 first time history httpwwwmarketwatchcomstorydowindustrialstradeabove24000forfirsttime20171130 poised longest streak monthly gains 20 years meanwhile major tech stocks took battering prior session showed signs recuperating selloff main benchmarks dow jones industrial average rose 234 points 12 24217 track biggest oneday percentage increase since september well fifth straight daily rise sampp 500 index 25 points 2651 gain 09 records nasdaq composite index 58 points 09 6882 techheavy index pressured worst session three months httpwwwmarketwatchcomstorydowindustrialspoisedtoclimbcloserto24000milestone20171129 wednesday 05 record russell 2000 index smallcap stocks rose 03 also touched record early trading httpwwwmarketwatchcomstoryrussell2000hitsrecordontaxreformoptimism20171130 advertisement days gains broad 11 sampp 500s primary sectors positive territory day however energy shares among biggest gainers 12 financial stocks rose 12 readhighflying tech stocks fall back toward earth httpwwwmarketwatchcomstorychipmakertechselloffdragsonbroadermarket20171129 moves month november far dow industrials looking gain around 36 would eighthstraight monthly win longest streak since july 1995 sampp 500 eyeing monthly rise roughly 29 also looks set nail eightmonth winning streak longest run since january 2007 nasdaq poised 23 advance would fifth month rises row longest winning streak since may 2017 year blockbuster stocks three major indexes gaining 18 27 year driven economic expansion upbeat corporate profits lack competition assets hopes trump administration congress deliver tax cuts read goldman says highest valuations since 1900 leave investors world hurt httpwwwmarketwatchcomstorygoldmansayshighestvaluationssince1900leaveinvestorsinforaworldofhurt20171129 could help drive market optimism building ahead senate vote republicanbacked tax bill could take place thursday evening wednesday senate voted open formal debate proposed tax changes httpwwwmarketwatchcomstorysenatevotestoopendebateontaxbillascorporateratestillupintheair20171129 latest economic data jobless claims came forecasts latest week httpwwwmarketwatchcomstoryjoblessclaimsfallslightlyinthanksgivingweeklayoffsremainnear45yearlow20171130 layoffs remain near 45year lows separately consumer spending rose 03 october httpwwwmarketwatchcomstoryconsumerskeeponspendinginoctoberaidedbyrisingincomesandlowinflation20171130 slightly 02 forecast dont missautomation could impact 375 million jobs 2030 new study suggests httpwwwmarketwatchcomstoryautomationcouldimpact375millionjobsby2030newstudysuggests20171129 dallas federal reserve president rob kaplan discuss real estate questionandanswer session real estate council speaking series 1 pm eastern strategists saying lifted market first part year everimproving economy profitability wasnt prospect tax reform youre seeing however next leg tax reform starts get baked bake tax reform means market doesnt look pricey said alicia levine investment strategist bny mellon investment management still lot details dont know corporate tax rate moved near 20 youd adding 10 per share sampp 500 earnings valuations whack growth rates stocks look like key movers socalled faang stocks hard hit wednesday showed signs rebound facebook fb amazoncom amzn rose 1 netflix inc nflx 08 apple aapl rose 09 shares juniper networks incjnpr fell 55 nokia corpnok nok denied interested acquiring networking company httpwwwmarketwatchcomstorynokiadeniesjuniperacquisitioninterest20171129 barnes amp noble incbks tumbled 12 company reported secondquarter loss wider expected httpwwwmarketwatchcomstorybarnesnoblesstockplungesafterlosseswidenmorethanexpected20171130 kroger cokr jumped 89 thirdquarter earnings came ahead analyst expectations httpwwwmarketwatchcomstorykrogersharesjump5onbetterthanexpectedearnings20171130 l brands inclb parent company victorias secret rose 85 reporting november samestore sales httpwwwmarketwatchcomstoryvictoriassecretparentlbrandssharesslide2premarketafternovsamestoresalesfall120171130 assets european stocks advanced httpwwwmarketwatchcomstoryeuropeanstocksclimbfor3rddayascreditsuissepropelsbankrally20171130 thanks gains bank stocks asian markets largely weaker day us tech selloff hit related shares asia hard httpwwwmarketwatchcomstorychipstockmalaisespreadstoasiadraggingdownmarkets20171129 energy shares likely focus members organization petroleum exporting countries major oil producers meeting vienna thursday traders optimistic meeting produce extension deal cut global output expires march oil futures httpwwwmarketwatchcomstoryoilpricesinchhigherwithopecmeetinginfocus20171130 rising brent oil seeing bulk gains ahead outcome opec meeting energy stocks underperforming commodity lately rare think reflects market pricing robust supply us fracking producers also turn demand nothing economy auto companies moving toward electric levine said among major energy companies exxon mobil xom rose 12 chevron corpcvx 1 read russia riles opec plans longer oil productioncut extension httpwwwmarketwatchcomstoryrussiarilesopecplansforalongerproductioncutextension20171129 httpwwwmarketwatchcomstoryrussiarilesopecplansforalongerproductioncutextension20171129a key us dollar index trading higher largely due gains greenback japanese yen index set worst monthly loss since july httpwwwmarketwatchcomstorypoundralliesonbrexithopesasdollarlooksatbiggestmonthlydropsincejuly20171130 meanwhile british pound continued move higher amid rising optimism brexit negotiations readftse 100 slides 2month low pound rallies brexit hopes httpwwwmarketwatchcomstoryftse100slidesto2monthlowaspoundralliesonbrexithopes20171130 gold futures modestly bitcoin prices nearly 4 973153 trading 10000 asia partial outage digital currency exchanges coinbase caused bitcoin prices whipsaw wednesday httpwwwmarketwatchcomstoryoutageonbitcoinexchangehitsprices20171129 price one bitcoin dropping 2000 11000 recovering 10000 late afternoon end dow jones newswires november 30 2017 1237 et 1737 gmt | 659 |
<p />
<p>HIV (in yellow) infecting a human T-cell (in blue). Image source: NIH Image Gallery via Flickr.</p>
<p>Continue Reading Below</p>
<p>Cancer might be the disease that gets the vast majority of attention these days, but infectious diseases are actually the biggest global killers.</p>
<p>As a perfect example, take human immunodeficiency virus (HIV), a disease that attacks the cells of the immune system and leaves a person vulnerable to infections. According to statistics from amfAR, the Foundation for AIDS Research, there are nearly 37 million people living with HIV today, and approximately 1.2 million people died from the disease in 2014. Since the disease was discovered, nearly 78 million people have contracted HIV, of which nearly half (39 million) have died from AIDS-related causes (HIV evolves into AIDS when the disease has progressed and few infection-fighting CD4+ white blood cells remain).</p>
<p>But there could be great news right around the corner for HIV/AIDS sufferers.</p>
<p>An HIV cure could be right around the corner Based on a <a href="https://medicine.temple.edu/news/scientists-lewis-katz-school-medicine-temple-university-eliminate-hiv-1-genome-human-t-cells" type="external">report Opens a New Window.</a> released a little over two weeks ago from researchers at the Lewis Katz School of Medicine at Temple University, and published in the journal Scientific Reports, scientists appear to have devised a way to eliminate HIV from the DNA of CD4+ T-cells.</p>
<p>The process, known as CRISPR/Cas9, works by targeting the genetic code of HIV that inserts into CD4+ T-cells. After taking blood from an infected patient, researchers genetically modify the Cas9 protein to seek out this genetic code. Once located, the Cas9 protein releases a nuclease enzyme, which in effect removes the HIV virus from the genetic code of the CD4+ T-cell and allows the loose ends of the T-cells' genome to repair themselves.</p>
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<p>Image source: Pixabay.</p>
<p>Prior work from senior investigator Kamel Khalili, PhD, and his team of colleagues has demonstrated an ability to remove HIV code from human cell lines, but this study took things a bit further. This study was conducted in an ex vivo setting using infected patients' blood, with researchers determining that not only can they effectively snip HIV-1 out of infected T-cells, but they can protect these cells from re-infection with no toxic side effects.</p>
<p>As noted by Dr. Khalili,</p>
<p>The next step for researchers at Lewis Katz School of Medicine is to obtain funding to take their research to the next level. If researchers can get their desired funding and continue their work, a cure could prove to be as little as three short years away.</p>
<p>Big changes could await HIV drugmakersAssuming Dr. Khalili and his team do indeed have an effective cure for HIV, you might be wondering what would happen with today's HIV drugmakers: namely, Gilead Sciences and ViiV Healthcare, which is majority owned by GlaxoSmithKline and minority owned by Pfizer and Shionogi.</p>
<p>Image source: GlaxoSmithKline.</p>
<p>The likely answer is that Gilead's and GlaxoSmithKline's/Pfizer's/Shionogi's antiretroviral drugs would be used in conjunction with CRISPR/Cas9; but this is, of course, speculation at this point.</p>
<p>Gilead's Stribild and newly introduced Genvoya, and ViiV Healthcare's Triumeq, are therapies designed to dramatically slow or halt the replication process of HIV-1 in patients. Despite having disease control rates of 90% or higher in some instances, these treatments don't cure HIV. If consumers stopped taking these drugs, their disease would be expected to advance into AIDS.</p>
<p>Additionally, these are relatively expensive therapies that infected patients are required to take for the entirety of their lives. Gilead's Stribild has an approximate wholesale cost of $28,500 per year. Genvoya, which contains a newer formulation of tenofovir designed to increase its concentration within infected cells but reduce its concentration throughout the remainder of the bloodstream, has an annual wholesale cost of nearly $31,400. Triumeq priced out around $26,500 annually when it was approved in 2014, but its price may have adjusted higher since then.</p>
<p>Image source: Gilead Sciences.</p>
<p>However, if the method developed by Temple University can protect against cell reinfection, then once a patient is fully treated and tests as clear of the disease, antiretroviral medication would presumably no longer be needed. In other words, Stribild, Genvoya, Triumeq, and a host of other HIV medications could be operating on borrowed time.</p>
<p>Of course, development timelines really should be considered here as well.</p>
<p>For instance, human clinical results are, in a best case scenario, still three years away. Then there's the time it would take for Temple University's treatment to gain approval from the Food and Drug Administration, the time needed to expand its operations to scale to treat more than a few people at a time, and a world with nearly 37 million people infected with HIV -- some of whom don't even realize they have the disease. Even if a cure were to emerge, it could take beyond a decade to ensure people get treated and the disease is eliminated. Or in other words, antiretrovirals' days could be numbered; but probably not for another 15 or more years, assuming this cure works in humans.</p>
<p>The key point, though, is that we could be on the cusp of effectively eliminating another worldwide killer. In just a few short years the scientific community went from a coin flip cure with hepatitis C to an effective cure rate that's often higher than 90%. It's possible that before the decade is over the same might be said of HIV.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/04/10/after-nearly-39-million-deaths-a-cure-for-hiv-coul.aspx" type="external">After Nearly 39 Million Deaths, a Cure for HIV Could Be Just 3 Years Away 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 owns shares of and recommends Gilead Sciences. 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 | hiv yellow infecting human tcell blue image source nih image gallery via flickr continue reading cancer might disease gets vast majority attention days infectious diseases actually biggest global killers perfect example take human immunodeficiency virus hiv disease attacks cells immune system leaves person vulnerable infections according statistics amfar foundation aids research nearly 37 million people living hiv today approximately 12 million people died disease 2014 since disease discovered nearly 78 million people contracted hiv nearly half 39 million died aidsrelated causes hiv evolves aids disease progressed infectionfighting cd4 white blood cells remain could great news right around corner hivaids sufferers hiv cure could right around corner based report opens new window released little two weeks ago researchers lewis katz school medicine temple university published journal scientific reports scientists appear devised way eliminate hiv dna cd4 tcells process known crisprcas9 works targeting genetic code hiv inserts cd4 tcells taking blood infected patient researchers genetically modify cas9 protein seek genetic code located cas9 protein releases nuclease enzyme effect removes hiv virus genetic code cd4 tcell allows loose ends tcells genome repair advertisement image source pixabay prior work senior investigator kamel khalili phd team colleagues demonstrated ability remove hiv code human cell lines study took things bit study conducted ex vivo setting using infected patients blood researchers determining effectively snip hiv1 infected tcells protect cells reinfection toxic side effects noted dr khalili next step researchers lewis katz school medicine obtain funding take research next level researchers get desired funding continue work cure could prove little three short years away big changes could await hiv drugmakersassuming dr khalili team indeed effective cure hiv might wondering would happen todays hiv drugmakers namely gilead sciences viiv healthcare majority owned glaxosmithkline minority owned pfizer shionogi image source glaxosmithkline likely answer gileads glaxosmithklinespfizersshionogis antiretroviral drugs would used conjunction crisprcas9 course speculation point gileads stribild newly introduced genvoya viiv healthcares triumeq therapies designed dramatically slow halt replication process hiv1 patients despite disease control rates 90 higher instances treatments dont cure hiv consumers stopped taking drugs disease would expected advance aids additionally relatively expensive therapies infected patients required take entirety lives gileads stribild approximate wholesale cost 28500 per year genvoya contains newer formulation tenofovir designed increase concentration within infected cells reduce concentration throughout remainder bloodstream annual wholesale cost nearly 31400 triumeq priced around 26500 annually approved 2014 price may adjusted higher since image source gilead sciences however method developed temple university protect cell reinfection patient fully treated tests clear disease antiretroviral medication would presumably longer needed words stribild genvoya triumeq host hiv medications could operating borrowed time course development timelines really considered well instance human clinical results best case scenario still three years away theres time would take temple universitys treatment gain approval food drug administration time needed expand operations scale treat people time world nearly 37 million people infected hiv dont even realize disease even cure emerge could take beyond decade ensure people get treated disease eliminated words antiretrovirals days could numbered probably another 15 years assuming cure works humans key point though could cusp effectively eliminating another worldwide killer short years scientific community went coin flip cure hepatitis c effective cure rate thats often higher 90 possible decade might said hiv article nearly 39 million deaths cure hiv could 3 years away 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 owns shares recommends gilead sciences 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 | 641 |
<p>Lord &amp; Taylor is selling its flagship New York City store for $850 million, a move that will convert most of the landmark building into office space and the headquarters of real estate startup WeWork Cos.</p>
<p>The transaction, part of an effort by Lord &amp; Taylor's parent Hudson's Bay Co. to reduce its debt, is the most dramatic sign of how even grand stores are giving way to more profitable uses. As fewer people visit stores and more shopping shifts online, retailers from Macy's Inc. to Sears Holdings Corp. are trying to sell or redevelop hundreds of locations, while mall owners are increasingly turning their anchors into grocery stores or gyms.</p>
<p>Continue Reading Below</p>
<p>Lord &amp; Taylor has operated its store on Manhattan's Fifth Avenue since 1914. The limestone structure, in an Italian Renaissance style, was designed by the same architects that built the Saks Fifth Avenue flagship further uptown. Both are now owned by Hudson's Bay, a Canadian retailer that acquired the the two U.S. chains in recent years.</p>
<p>Lord &amp; Taylor will continue to operate a smaller store at the location, but most of the 12-floor building will become WeWork's headquarters and other office space. The Lord &amp; Taylor site was appraised at $650 million in 2016 when Hudson's Bay refinanced the mortgage on the property.</p>
<p>For WeWork, which positions itself as real estate for the millennial generation, the deal for the flagship department store gives it powerful imagery on the changing winds of real estate. The seven-year-old company has become one of the world's richest startups, with a valuation of more than $20 billion. It generally takes on long-term leases for raw office space and builds out the interior with flexible spaces and modern design that it then subleases for terms as short as a month.</p>
<p>Department stores have been struggling with falling sales as shoppers buy more online, shift their preferences to smaller specialty stores and spend more on travel and entertainment. Hudson's Bay, which also owns namesake Canadian chain and a German department store retailer, hasn't been immune. Hudson's Bay's losses nearly doubled to 422 million Canadian dollars (US$333 million) in the first six months of this fiscal year. Sales fell 0.9% to 6.49 billion Canadian dollars.</p>
<p>Earlier this year, Hudson's Bay explored potential combinations with both Macy's and Neiman Marcus, people familiar with the matter said, but the discussions didn't result in deals. And in June, activist investor Land &amp; Buildings Investment Management LLC took a stake in Hudson's Bay and urged the company to consider strategic alternatives, including redeveloping its vast real estate holdings.</p>
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<p>"We pay a lot of attention to not only managing our retail business but to creating value through creative transactions with our real estate," said Hudson's Bay's Chairman and interim chief executive Richard Baker.</p>
<p>He added that there is a future for department stores, but they need to make their space more productive. "Department stores aren't going anywhere," Mr. Baker said. "Stores that are well run will be here for a long time."</p>
<p>WeWork formed a joint venture with private-equity firm Rhône Group, which is investing $500 million in convertible preferred shares in Hudson's Bay, as part of the investment. WeWork will also take space in the upper floors of three Hudson's Bay department stores in Canada as well as the Galeria Kaufhof in Frankfurt.</p>
<p>The arrangement is the latest and most dramatic example of how department stores are trying to unload excess space. Sears has leased areas in its stores to sporting goods retailers, grocery chains and health clubs. Macy's sold part of its Brooklyn store to a real estate company that will redevelop it into office space. And Hudson's Bay has leased space in its Canadian stores to Topshop, the British specialty chain.</p>
<p>For WeWork, the deal gives the company a pipeline of large new office spaces in downtowns--its preferred location for its shared office spaces. Future deals with Hudson's Bay are expected to be leases, not purchases like the New York deal, a WeWork spokesman said.</p>
<p>Propelled by a recent $4.4 billion investment from SoftBank Group Corp., WeWork is looking to continue its rapid rate of growth, as it has been doubling in size each year. But finding large new spaces is increasingly challenging, particularly in tight markets like San Francisco or New York.</p>
<p>Since it was founded in 2010 in a small Manhattan office, the startup has swelled to around 10 million square feet around the world. Its private valuation -- higher than the largest publicly traded office landlord, Boston Properties Inc., despite managing a fifth of the space -- has sparked skepticism within real estate circles. The company has said its valuation makes sense based on its plans for rapid expansion.</p>
<p>WeWork is avoiding putting up much cash itself in the Lord &amp; Taylor deal. Its recently launched real estate fund, WeWork Property Advisors -- which is co-managed with Rhone Group -- is buying the building, meaning that outside investors are taking most of the risk on the headquarters deal.</p>
<p>Hudson's Bay expects the transactions to reduce its debt by 1.6 billion Canadian dollars. It forecast "minimal impact on its earnings from the sale of the Lord &amp; Taylor Fifth Avenue building, which, in comparison is many times less productive than the Saks Fifth Avenue flagship building."</p>
<p>Lord &amp; Taylor is considered the oldest U.S. department store, dating back nearly 200 years. It was a pioneer in many ways, becoming the first to install an elevator, the first to open a branch location, and the first to hire a woman CEO, Dorothy Shaver, who was instrumental in making it a beacon for American designers in the '40s and '50s. It was acquired by Canada's Hudson's Bay in 2012 and operates around 50 locations.</p>
<p>Mr. Baker said he expects the partnership to bring an additional 6,000 to 8,000 people to the stores per day. The companies expect to offer reciprocal benefits that will give WeWork members access to exclusive sales and allow Hudson's Bay customers to join WeWorks' member platform.</p>
<p>Eric Gross, a managing partner at WeWork Property Advisors, and M. Steven Langman, a managing director of Rhône Group, will join Hudson's Bay's board. Last week, Hudson's Bay said its CEO, Jerry Storch, was leaving the company on Nov. 1.</p>
<p>Write to Suzanne Kapner at [email protected] and Eliot Brown at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>October 24, 2017 13:34 ET (17:34 GMT)</p> | true | 0 | lord amp taylor selling flagship new york city store 850 million move convert landmark building office space headquarters real estate startup wework cos transaction part effort lord amp taylors parent hudsons bay co reduce debt dramatic sign even grand stores giving way profitable uses fewer people visit stores shopping shifts online retailers macys inc sears holdings corp trying sell redevelop hundreds locations mall owners increasingly turning anchors grocery stores gyms continue reading lord amp taylor operated store manhattans fifth avenue since 1914 limestone structure italian renaissance style designed architects built saks fifth avenue flagship uptown owned hudsons bay canadian retailer acquired two us chains recent years lord amp taylor continue operate smaller store location 12floor building become weworks headquarters office space lord amp taylor site appraised 650 million 2016 hudsons bay refinanced mortgage property wework positions real estate millennial generation deal flagship department store gives powerful imagery changing winds real estate sevenyearold company become one worlds richest startups valuation 20 billion generally takes longterm leases raw office space builds interior flexible spaces modern design subleases terms short month department stores struggling falling sales shoppers buy online shift preferences smaller specialty stores spend travel entertainment hudsons bay also owns namesake canadian chain german department store retailer hasnt immune hudsons bays losses nearly doubled 422 million canadian dollars us333 million first six months fiscal year sales fell 09 649 billion canadian dollars earlier year hudsons bay explored potential combinations macys neiman marcus people familiar matter said discussions didnt result deals june activist investor land amp buildings investment management llc took stake hudsons bay urged company consider strategic alternatives including redeveloping vast real estate holdings advertisement pay lot attention managing retail business creating value creative transactions real estate said hudsons bays chairman interim chief executive richard baker added future department stores need make space productive department stores arent going anywhere mr baker said stores well run long time wework formed joint venture privateequity firm rhône group investing 500 million convertible preferred shares hudsons bay part investment wework also take space upper floors three hudsons bay department stores canada well galeria kaufhof frankfurt arrangement latest dramatic example department stores trying unload excess space sears leased areas stores sporting goods retailers grocery chains health clubs macys sold part brooklyn store real estate company redevelop office space hudsons bay leased space canadian stores topshop british specialty chain wework deal gives company pipeline large new office spaces downtownsits preferred location shared office spaces future deals hudsons bay expected leases purchases like new york deal wework spokesman said propelled recent 44 billion investment softbank group corp wework looking continue rapid rate growth doubling size year finding large new spaces increasingly challenging particularly tight markets like san francisco new york since founded 2010 small manhattan office startup swelled around 10 million square feet around world private valuation higher largest publicly traded office landlord boston properties inc despite managing fifth space sparked skepticism within real estate circles company said valuation makes sense based plans rapid expansion wework avoiding putting much cash lord amp taylor deal recently launched real estate fund wework property advisors comanaged rhone group buying building meaning outside investors taking risk headquarters deal hudsons bay expects transactions reduce debt 16 billion canadian dollars forecast minimal impact earnings sale lord amp taylor fifth avenue building comparison many times less productive saks fifth avenue flagship building lord amp taylor considered oldest us department store dating back nearly 200 years pioneer many ways becoming first install elevator first open branch location first hire woman ceo dorothy shaver instrumental making beacon american designers 40s 50s acquired canadas hudsons bay 2012 operates around 50 locations mr baker said expects partnership bring additional 6000 8000 people stores per day companies expect offer reciprocal benefits give wework members access exclusive sales allow hudsons bay customers join weworks member platform eric gross managing partner wework property advisors steven langman managing director rhône group join hudsons bays board last week hudsons bay said ceo jerry storch leaving company nov 1 write suzanne kapner suzannekapnerwsjcom eliot brown eliotbrownwsjcom end dow jones newswires october 24 2017 1334 et 1734 gmt | 681 |
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<p>Disney (NYSE: DIS) is known around the world for being the name behind many of the most popular movies in history. However, the company is about much more than films, and its unique business model is a major advantage for investors.</p>
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<p>When Disney launches a successful movie, the company obviously profits directly from the production. Disney is particularly prone to building franchises around its movies, so a successful production typically means multiple films from the same franchise over time. The company has already mapped out its plans for the Star Wars franchise until 2020, and it's now planning new Star Wars movies for 2021 and beyond.</p>
<p>The movie studio business generally carries a high degree of operating leverage, meaning that costs tend to be more stable than revenue. For this reason, movie studios can make massive profits when a movie performs well at the box office, or they can take huge losses if things don't work out as expected. Disney is second to none in terms of its ability to deliver what customers want, and the company produced an operating margin around 27% of revenue in the studio segment last quarter.</p>
<p>Even better, Disney builds brands around its characters and intellectual properties, and it monetizes those brands via multiple platforms at the same time. A successful movie means additional business opportunities for Disney in areas such as live shows, toys and merchandise, video games, and entertainment park attractions, among others.</p>
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<p>The company has doubled the size of its consumer products division in terms of profits over the past four years, and this is clearly related to blockbuster movies like Frozen and productions from Marvel and Star Wars.</p>
<p>Disney has made a series of big acquisitions over the past several years, including the purchase of Pixar for $7.4 billion in 2006, Marvel for $4.24 billion in 2009, and Lucasfilm and the Star Wars franchise for $4.05 billion in 2012. According to CEO Bob Iger, the company has released 29 movies since then, and the average global box office of each of those films is barely below $800 million.</p>
<p>Disney has a unique ability to profit from acquisitions. The company knows how to turn intellectual assets into successful movies and franchises, and then it leverages those films into additional profits in other business segments. Because of this dynamic, a company like Marvel is arguably more valuable as part of Disney's empire than as a stand-alone business.</p>
<p>According to recent market rumors, Disney could be interested in acquiring Netflix (NASDAQ: NFLX). In fact, shares of Netflix popped up by more than 4% on Monday due to market speculation about this possibility. There has been no confirmation whatsoever from Disney or Netflix, and the rumors could easily turn out to be entirely speculation.</p>
<p>On the other hand, Disney and Netflix have a very particular relationship. While the two companies are competitors to some degree, they are also partners when it comes to content production and distribution, and they have a <a href="http://www.fool.com/investing/2016/06/02/what-netflix-wants-you-to-know-about-its-growing-t.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">lucrative relationship Opens a New Window.</a> in that area. If Disney and Netflix decided to definitively join forces, they could build an unparalleled content powerhouse with a leading presence in key growth areas such as online streaming.</p>
<p>Integrating a high-growth business Netflix into Disney's operations would be a considerable challenge, but the company has a rock-solid track record of successful acquisitions over the years. Besides, it's easy to see how Netflix and Disney could both benefit by combining their content, technologies, human talent, and financial resources.</p>
<p>One of the main risk factors that Disney is facing is declining ESPN subscriptions, as many consumers are cutting or significantly reducing their cable bills and turning toward online TV platforms like Netflix. With that in mind, a Netflix acquisition would also have significant benefits for Disney in terms of risk diversification.</p>
<p>None of these means that a Netflix acquisition from Disney is going to happen, however, it's good to know that Disney is one of the few companies in the world that has the money and the strategic resources to successfully make such move.</p>
<p>Disney has an extraordinary ability to turn intellectual properties into successful movies, and then build additional business opportunities around those movies. This has major implications for investors in the company, not only when it comes to organic growth opportunities, but also in terms of the company's ability to drive growth through acquisitions.</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/acardenal/info.aspx" type="external">Andrs Cardenal Opens a New Window.</a> owns shares of Netflix and Walt Disney. The Motley Fool owns shares of and recommends Netflix and Walt Disney. 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 | disney nyse dis known around world name behind many popular movies history however company much films unique business model major advantage investors continue reading disney launches successful movie company obviously profits directly production disney particularly prone building franchises around movies successful production typically means multiple films franchise time company already mapped plans star wars franchise 2020 planning new star wars movies 2021 beyond movie studio business generally carries high degree operating leverage meaning costs tend stable revenue reason movie studios make massive profits movie performs well box office take huge losses things dont work expected disney second none terms ability deliver customers want company produced operating margin around 27 revenue studio segment last quarter even better disney builds brands around characters intellectual properties monetizes brands via multiple platforms time successful movie means additional business opportunities disney areas live shows toys merchandise video games entertainment park attractions among others advertisement company doubled size consumer products division terms profits past four years clearly related blockbuster movies like frozen productions marvel star wars disney made series big acquisitions past several years including purchase pixar 74 billion 2006 marvel 424 billion 2009 lucasfilm star wars franchise 405 billion 2012 according ceo bob iger company released 29 movies since average global box office films barely 800 million disney unique ability profit acquisitions company knows turn intellectual assets successful movies franchises leverages films additional profits business segments dynamic company like marvel arguably valuable part disneys empire standalone business according recent market rumors disney could interested acquiring netflix nasdaq nflx fact shares netflix popped 4 monday due market speculation possibility confirmation whatsoever disney netflix rumors could easily turn entirely speculation hand disney netflix particular relationship two companies competitors degree also partners comes content production distribution lucrative relationship opens new window area disney netflix decided definitively join forces could build unparalleled content powerhouse leading presence key growth areas online streaming integrating highgrowth business netflix disneys operations would considerable challenge company rocksolid track record successful acquisitions years besides easy see netflix disney could benefit combining content technologies human talent financial resources one main risk factors disney facing declining espn subscriptions many consumers cutting significantly reducing cable bills turning toward online tv platforms like netflix mind netflix acquisition would also significant benefits disney terms risk diversification none means netflix acquisition disney going happen however good know disney one companies world money strategic resources successfully make move disney extraordinary ability turn intellectual properties successful movies build additional business opportunities around movies major implications investors company comes organic growth opportunities also terms companys ability drive growth acquisitions 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 andrs cardenal opens new window owns shares netflix walt disney motley fool owns shares recommends netflix walt disney 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 | 519 |
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<p>As Apple’s (NASDAQ:AAPL) retail chief, Ron Johnson walked on water. It’s one thing to be the mad genius behind the iconic Apple Store and Genius Bar; it’s another matter entirely to build the <a href="http://retail.emarketer.com/apple-murphy-usa-tiffany-co-top-new-emarketer-store-productivity-rankings/" type="external">most valuable retail space in America Opens a New Window.</a> … selling computers and consumer electronics, of all things.</p>
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<p>You’ve got to admit that’s pretty heady stuff. Besides, it’s hard to imagine what it must have felt like to be a chosen disciple to join in the second coming of Steve Jobs and lead Apple’s remarkable ascension to the top of the corporate world. Come to think of it, it’s not that hard to imagine. I bet it felt great.</p>
<p>And yet, Johnson gave all that up to run J.C. Penney (NYSE:JCP). Just think about that for a second. You’re one of the top guys at Apple. You helped build the most valuable company on Earth. Then you’re CEO of a commodity clothing retailer.</p>
<p>Yes, I know Johnson worked at Target (NYSE:TGT) before Apple. I can almost see going back to run Target. At least Target has some cache. But Penney? That’s sort of hard to make sense of. Maybe the guy fell and hit his head on something. Who knows?</p>
<p>No, that couldn’t be it. The madness continued well into his tenure. Lest we forget that the guy gutted the company and its stores from top to bottom essentially betting the farm on a bizarre and grandiose strategy to remake the retailer into an apparel version of Apple. All without test-marketing the idea first. Not a good move.</p>
<p>You all know what happened next. Customers fled to Macy’s (NYSE:M), sales plummeted, and investors shouted Sell! Sell! Sell! Everyone abandoned ship except the mannequins, although I’m sure even they were pretty depressed just standing around doing nothing in all those empty stores.</p>
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<p>When he was ousted by the board, Johnson’s reputation was worth about as much as Penney’s share price. Wonder if he has any regrets about leaving Apple, grasping that particular brass ring, or thinking he could somehow magically turn coal into diamonds. We may never know.</p>
<p>Snarky cynicism aside, there is a much bigger question here. Why did he do it? More to the point, why do they do it? After all, Johnson is far from the only successful executive to give up a prestigious gig at an industry giant for the chance to run the corporate equivalent of a popsicle stand.</p>
<p>Don Mattrick left Microsoft (NASDAQ:MSFT) where he was president of the software giant’s interactive entertainment business – aka Xbox – to become CEO of troubled social gaming company Zynga (NASDAQ:ZNGA). Investors applauded Mattrick’s move to FarmVille, but a year later, revenues and the stock are heading south while the losses continue to pile up like, let me see, what would be the farm analogy? Um, never mind. Let’s just say that Wall Street is holding its collective nose.</p>
<p>Hotshot executive Marissa Mayer quit Google (NASDAQ:GOOG) to take the reins at Internet also-ran Yahoo (NASDAQ:YHOO). While the self-proclaimed workaholic has stayed very busy handing out free stuff to employees, buying companies, selling Alibaba stock, and hiring and firing executives, stemming the slide of Yahoo’s core advertising business remains considerably more elusive.</p>
<p>Those are just some recent high-profile examples but there’s plenty more where they came from. I myself once left a sweet gig as the number two guy at a high-tech company with an IPO in the works to roll the dice as CEO of a startup that had a very good chance of going nowhere. And it got there, all right.</p>
<p>So what makes highly accomplished executives quit the life to take a flying leap into the great unknown without a safety net? Five reasons come to mind:</p>
<p>Because it’s there. Why do people attempt to climb Mount Everest? It’s the challenge. What about the risk? As I told my wife just before leaving a small fortune on the table and making the biggest mistake of my career, “Never tell me the odds.” (Nod to Han Solo in The Empire Strikes Back)</p>
<p>They were passed over. By my observation, Marissa Mayer was stuck at VP, having been passed over for a coveted senior veep role at Google. Likewise, when Satya Nadella was picked to run Microsoft, Tony Bates bolted. Now he’s president at GoPro (NASDAQ:GPRO).</p>
<p>They’re like sharks. Some people can’t sit still, even if it is in a plush chair at a cushy job. They’re just not good with complacency. They’re never content. They live to learn, to grow, to try new things. Gilded cages can only hold them for a while. Like sharks, they have to keep moving to survive.</p>
<p>The Peter Principle. Robert Browning wrote, “a man’s reach should exceed his grasp.” And how do we know that we’ve taken our skills and the gifts God gave us as far as they’ll go? When we reach our level of incompetence, of course. Peter was right.</p>
<p>Ego. You’ve got to admit, CEO does have a nice ring to it. Some people get off on being #1, the boss, the head honcho. Considering how many leaders of one-person companies now call themselves CEOs, this may be a more common reason than you’d think.</p>
<p>For those that say it’s all about the money, au contraire. Johnson actually paid big-time for the privilege to be CEO at Penney, investing $50 million in stock warrants worth zero if the stock is less than $29.92 after six years. And Mayer was already worth a fortune when she joined Yahoo.</p>
<p>When it comes to decisions like this, money is usually not a primary motivator. It certainly wasn’t for Johnson. I just think that, after years of living in the shadow of other leaders, he had an opportunity to reinvent a storied company. To put his experience and vision to the test. He just couldn’t pass that up. And I don’t blame him one bit. Neither could I.</p> | true | 0 | apples nasdaqaapl retail chief ron johnson walked water one thing mad genius behind iconic apple store genius bar another matter entirely build valuable retail space america opens new window selling computers consumer electronics things continue reading youve got admit thats pretty heady stuff besides hard imagine must felt like chosen disciple join second coming steve jobs lead apples remarkable ascension top corporate world come think hard imagine bet felt great yet johnson gave run jc penney nysejcp think second youre one top guys apple helped build valuable company earth youre ceo commodity clothing retailer yes know johnson worked target nysetgt apple almost see going back run target least target cache penney thats sort hard make sense maybe guy fell hit head something knows couldnt madness continued well tenure lest forget guy gutted company stores top bottom essentially betting farm bizarre grandiose strategy remake retailer apparel version apple without testmarketing idea first good move know happened next customers fled macys nysem sales plummeted investors shouted sell sell sell everyone abandoned ship except mannequins although im sure even pretty depressed standing around nothing empty stores advertisement ousted board johnsons reputation worth much penneys share price wonder regrets leaving apple grasping particular brass ring thinking could somehow magically turn coal diamonds may never know snarky cynicism aside much bigger question point johnson far successful executive give prestigious gig industry giant chance run corporate equivalent popsicle stand mattrick left microsoft nasdaqmsft president software giants interactive entertainment business aka xbox become ceo troubled social gaming company zynga nasdaqznga investors applauded mattricks move farmville year later revenues stock heading south losses continue pile like let see would farm analogy um never mind lets say wall street holding collective nose hotshot executive marissa mayer quit google nasdaqgoog take reins internet alsoran yahoo nasdaqyhoo selfproclaimed workaholic stayed busy handing free stuff employees buying companies selling alibaba stock hiring firing executives stemming slide yahoos core advertising business remains considerably elusive recent highprofile examples theres plenty came left sweet gig number two guy hightech company ipo works roll dice ceo startup good chance going nowhere got right makes highly accomplished executives quit life take flying leap great unknown without safety net five reasons come mind people attempt climb mount everest challenge risk told wife leaving small fortune table making biggest mistake career never tell odds nod han solo empire strikes back passed observation marissa mayer stuck vp passed coveted senior veep role google likewise satya nadella picked run microsoft tony bates bolted hes president gopro nasdaqgpro theyre like sharks people cant sit still even plush chair cushy job theyre good complacency theyre never content live learn grow try new things gilded cages hold like sharks keep moving survive peter principle robert browning wrote mans reach exceed grasp know weve taken skills gifts god gave us far theyll go reach level incompetence course peter right ego youve got admit ceo nice ring people get 1 boss head honcho considering many leaders oneperson companies call ceos may common reason youd think say money au contraire johnson actually paid bigtime privilege ceo penney investing 50 million stock warrants worth zero stock less 2992 six years mayer already worth fortune joined yahoo comes decisions like money usually primary motivator certainly wasnt johnson think years living shadow leaders opportunity reinvent storied company put experience vision test couldnt pass dont blame one bit neither could | 559 |
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<p>Companies offer benefits to attract and retain workers. But what happens when they restructure their benefits?</p>
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<p>In the retirement benefits arena, a number of employers aiming to shave costs while incentivizing workers to stick around longer are switching from regular year-round contributions to a single annual lump-sum 401(k) matching contribution.</p>
<p>But by holding off until the end of the year to make their plan contributions, companies may be hindering their employees from saving enough for retirement.</p>
<p>How the Controversy Began</p>
<p>The issue became big news in February after AOL's CEO Tim Armstrong attempted to explain his company's decision to switch to a lump-sum annual match.</p>
<p>Armstrong bungled the message when he disclosed that high health insurance expenses relating to two distressed babies of AOL employees impacted the company's benefit costs. But in the wake of the resulting bad publicity, AOL decided to continue its year-round 401(k) matches after all.</p>
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<p>On the other hand, IBM, JPMorgan Chase and Co., Charles Schwab Corp., Citigroup and a host of other major companies have decided to offer annual lump-sum 401(k) matching contributions.</p>
<p>Dollar-Cost Averaging Disappears</p>
<p>By investing the full match all at once instead of periodically throughout the year, employers deny workers the benefits of compounding interest and dollar-cost averaging.</p>
<p>"If you're dripping money into a tax-deferred 401(k) account and you're doing it monthly, you're capturing the average cost of your mutual fund, ETF or stock over that time period," says Kris Venne, director of financial planning at Ritholtz Wealth Management in New York City.</p>
<p>The stock market has been trending up over the past 100 years, says Robert Gordon, a CFP professional in Coconut Grove, Florida.</p>
<p>"There are down years, but the up years outnumber them," Gordon says. "So you want to be getting the dollars in as soon as you can."</p>
<p>CFP professional Melissa Motz , president of Motz Wealth Management in Harleysville, Pennsylvania, notes that end-of-year matching means employees stand to lose up to 11 months' worth of potential market gains. "That definitely adds up over time," she says.</p>
<p>Frequent job changers miss out</p>
<p>Another disadvantage for employees at jobs paying end-of-year matches is they don't get the money if they leave before the match kicks in. If lump-sum matching continues to catch on even as workers continue to change jobs more frequently, retirement savings will likely take a hit, Gordon says.</p>
<p>"For the participant ... it just increases the (potential) that they'll miss an entire year's worth of contributions," Gordon says.</p>
<p>That risk figures into some employers' motivation for offering lump-sum matches: They're trying to give employees a reason to stay, says Alan Moore, founder of Serenity Financial Consulting in Milwaukee. Even workers planning to quit at year's end may change their minds when they discover the holiday season is not an ideal time for a job search.</p>
<p>"Finding and training employees is incredibly expensive, and they know that," Moore says. "The more turnover you have, the more expensive it's going to get."</p>
<p>Employers Like Holding Onto Cash</p>
<p>Venne suggests that some employers who view high turnover as inevitable may be using end-of-year matching to their financial benefit. They're betting that a portion of their workers will leave, reducing their obligation to pay into retirement accounts.</p>
<p>He sees lump-sum matching as a continuation of the employer cost-saving moves that began with the switch from pension funds to 401(k)s in the 1980s.</p>
<p>"They're coming up with ways not to shell out as much cash for their employees," Venne says.</p>
<p>Companies generally prefer to delay cash outlays for as long as they can, Moore says. "They pay bills at the last possible second because they need that money for working capital."</p>
<p>Another possible motive for year-end matching, in Moore's view, is the desire of employers to reduce their administration work.</p>
<p>"It would be kind of nice to only have to make one (annual) contribution ... and only have to do the paperwork once," he says.</p>
<p>Motz warns that putting off paying matches could even backfire for employers if they run into a financial crunch before the payments come due and they haven't planned for that scenario.</p>
<p>Making Up for Lost Time</p>
<p>If your savings aren't growing as fast as they could due to annual lump-sum 401(k) matching contributions, look into whether you qualify to contribute to a separate Roth IRA, Venne suggests.</p>
<p>The annual contribution limit for either a Roth or traditional IRA is $5,500 in 2014 ($6,500 for those 50 and older).</p>
<p>Venne says that's not as high as limits on 401(k) contributions. "But if I had a client who was faced with this issue, that would be something I'd recommend."</p>
<p>Another idea might be to increase your employee contribution to the 401(k); in 2014, the limit is $17,500, or $23,000 for those age 50 and up. But Motz says to make up for delayed matching funds, you would have to start socking away extra savings early in the year.</p>
<p>Other Ways to Compensate</p>
<p>Those who don't have the cash to put into an extra retirement account might look at tweaking their asset allocation for better gains, Gordon says.</p>
<p>"Let's say they don't have the cash flow to open up an additional IRA," Gordon says. "They could tilt their portfolio to be a little more aggressive."</p>
<p>For example, a married couple with a moderate amount of debt might move from an allocation of 60 percent equities and 40 percent fixed income to one with 70 percent equities and 30 percent fixed income.</p>
<p>"They're taking a little bit additional risk, but the intention is to make up for what is lost," Gordon says.</p>
<p>Copyright 2014, Bankrate Inc.</p> | true | 0 | companies offer benefits attract retain workers happens restructure benefits continue reading retirement benefits arena number employers aiming shave costs incentivizing workers stick around longer switching regular yearround contributions single annual lumpsum 401k matching contribution holding end year make plan contributions companies may hindering employees saving enough retirement controversy began issue became big news february aols ceo tim armstrong attempted explain companys decision switch lumpsum annual match armstrong bungled message disclosed high health insurance expenses relating two distressed babies aol employees impacted companys benefit costs wake resulting bad publicity aol decided continue yearround 401k matches advertisement hand ibm jpmorgan chase co charles schwab corp citigroup host major companies decided offer annual lumpsum 401k matching contributions dollarcost averaging disappears investing full match instead periodically throughout year employers deny workers benefits compounding interest dollarcost averaging youre dripping money taxdeferred 401k account youre monthly youre capturing average cost mutual fund etf stock time period says kris venne director financial planning ritholtz wealth management new york city stock market trending past 100 years says robert gordon cfp professional coconut grove florida years years outnumber gordon says want getting dollars soon cfp professional melissa motz president motz wealth management harleysville pennsylvania notes endofyear matching means employees stand lose 11 months worth potential market gains definitely adds time says frequent job changers miss another disadvantage employees jobs paying endofyear matches dont get money leave match kicks lumpsum matching continues catch even workers continue change jobs frequently retirement savings likely take hit gordon says participant increases potential theyll miss entire years worth contributions gordon says risk figures employers motivation offering lumpsum matches theyre trying give employees reason stay says alan moore founder serenity financial consulting milwaukee even workers planning quit years end may change minds discover holiday season ideal time job search finding training employees incredibly expensive know moore says turnover expensive going get employers like holding onto cash venne suggests employers view high turnover inevitable may using endofyear matching financial benefit theyre betting portion workers leave reducing obligation pay retirement accounts sees lumpsum matching continuation employer costsaving moves began switch pension funds 401ks 1980s theyre coming ways shell much cash employees venne says companies generally prefer delay cash outlays long moore says pay bills last possible second need money working capital another possible motive yearend matching moores view desire employers reduce administration work would kind nice make one annual contribution paperwork says motz warns putting paying matches could even backfire employers run financial crunch payments come due havent planned scenario making lost time savings arent growing fast could due annual lumpsum 401k matching contributions look whether qualify contribute separate roth ira venne suggests annual contribution limit either roth traditional ira 5500 2014 6500 50 older venne says thats high limits 401k contributions client faced issue would something id recommend another idea might increase employee contribution 401k 2014 limit 17500 23000 age 50 motz says make delayed matching funds would start socking away extra savings early year ways compensate dont cash put extra retirement account might look tweaking asset allocation better gains gordon says lets say dont cash flow open additional ira gordon says could tilt portfolio little aggressive example married couple moderate amount debt might move allocation 60 percent equities 40 percent fixed income one 70 percent equities 30 percent fixed income theyre taking little bit additional risk intention make lost gordon says copyright 2014 bankrate inc | 560 |
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<p>Roughly one-third of Americans rely on Social Security for more than 90% of their retirement income, so choosing when to claim Social Security can be one of the most difficult and most important decisions you face in your 50s and 60s. If you're struggling to decide when to claim your Social Security benefits, you're not alone. Do you understand the pros and cons ofclaiming early, on time, or waiting?</p>
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<p>Image source: Getty Images.</p>
<p>Social Security can replace about 40% of your pre-retirement income, but if you claim benefits at age 62, you're going to get less per month than you would have received if you waited until you're older to claim.</p>
<p>If you're turning 62 this year, then your full retirement age, or the age at which you're entitled to 100% of your Social Security benefit, is 66 years and two months. If you claim your benefit now, then you'll get monthly checks equivalent to about 74% of the amount you'd receive at full retirement age. For instance, if you're supposed to receive $1,000 per month in Social Security at age 66 and two months, then you would get about $741 per month, if you claim at age 62 this year.</p>
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<p>For many Americans, retirement's allure may outweigh the potential for a bigger payoff later on, especially if Social Security is supplementing your retirement income, rather than representing the lion's share of it.</p>
<p>If that's the case for you, then collecting reduced Social Security income now might be best, particularly if you're concerned about Social Security's long-term solvency.</p>
<p>As a refresher, the payroll tax revenue supporting Social Security payments has fallen short of the program's outlays to current recipients since 2010, and as a result, Social Security is making up the difference by tapping the Social Security trust fund. Unfortunately, that trust fund isn't bottomless, and that's got Social Security's trustees estimating that without congressional action, the trust fund will run dry in 2034, causing an across the board 25% cut in payments to recipients.</p>
<p>Personally, I think Congress will protect this important program before that happens, but there's another important reason why taking benefits early might be wise.</p>
<p>A look at the various breakeven points for Social Security claiming strategies reveals that the total dollars paid out to you if you wait to claim doesn't surpass the total amount paid out to you if you claim at age 62 until you're deep into your 70s.</p>
<p>Data source: Author's calculation.</p>
<p>If you don't rely on Social Security to live on, and you invest your Social Security checks, then your breakeven age could get pushed back into your 80s or beyond, depending on your average annual returns.</p>
<p>Social Security is designed to pay out the same amount in total lifetime benefits, regardless of when you claim. The program does this by using average life expectancy estimates, and then reducing or increasing payments, depending on what age benefits are claimed.</p>
<p>Since the total amount received is supposed to be the same over time, individuals who are currently employed and would like to continue working might want to hold off on claiming until hitting age 66 and two months.</p>
<p>Individuals who claim earlier than full retirement age, and who continue working, can have their Social Security check reduced if their earnings <a href="http://www.fool.com/retirement/2016/11/26/how-much-money-can-you-make-in-2017-without-reduci.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">eclipse specific income thresholds Opens a New Window.</a>. In 2017, earning more than $16,920 can result in a $1 reduction in benefits for every $2 earned about that limit. Money that's withheld is added back to benefits at full retirement age, so you don't lose it, but it's definitely something to take into consideration.</p>
<p>Furthermore, you may find it beneficial to continue working full-time a few more years in order to boost your Social Security benefit at full retirement age. Social Security is based on your highest 35 years of inflation-adjusted income, so if you're more highly compensated in your 60s than you were in your 30s, and you've already accumulated a 35-year work history, then you might want to continue working to remove those low-income earning years from your benefit calculation.</p>
<p>Also, there <a href="http://www.fool.com/investing/2016/06/10/if-i-receive-social-security-how-much-will-i-pay-i.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">can be tax implications Opens a New Window.</a> associated with working and receiving Social Security that could make it advantageous to delay claiming benefits. For instance, if you're single and earn over $25,000, then there's a good chance you'll have to pay taxes on at least some of your Social Security income. Therefore, if taking Social Security now means that some of it will be taxed, and waiting means it won't be taxed because you expect your income will fall below the threshold, thenyou might want to wait.</p>
<p>Image source: Getty Images.</p>
<p>If you want the absolute biggest Social Security check you can get in retirement, then when to claim is simple -- wait until age 70.</p>
<p>Social Security rewards you with bonus payments called delayed retirement creditsif you claim after your full retirement age and those credits can add up.Specifically, the IRS increases your monthly benefits by two-thirds of 1% for every month that you delay claiming your benefit beyond full retirement age. That works out to 8% per year. For example, if you were born in 1955, and you wait to claim until you reach age 70 (the latest you can wait and still receive the delayed credits), then your payment would be 130 2/3% of your full retirement payment.</p>
<p>That's a pretty nice guaranteed bump up in your monthly income, especially if you plan on relying heavily on Social Security to pay your bills in retirement but don't need the money now.</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>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 | roughly onethird americans rely social security 90 retirement income choosing claim social security one difficult important decisions face 50s 60s youre struggling decide claim social security benefits youre alone understand pros cons ofclaiming early time waiting continue reading image source getty images social security replace 40 preretirement income claim benefits age 62 youre going get less per month would received waited youre older claim youre turning 62 year full retirement age age youre entitled 100 social security benefit 66 years two months claim benefit youll get monthly checks equivalent 74 amount youd receive full retirement age instance youre supposed receive 1000 per month social security age 66 two months would get 741 per month claim age 62 year advertisement many americans retirements allure may outweigh potential bigger payoff later especially social security supplementing retirement income rather representing lions share thats case collecting reduced social security income might best particularly youre concerned social securitys longterm solvency refresher payroll tax revenue supporting social security payments fallen short programs outlays current recipients since 2010 result social security making difference tapping social security trust fund unfortunately trust fund isnt bottomless thats got social securitys trustees estimating without congressional action trust fund run dry 2034 causing across board 25 cut payments recipients personally think congress protect important program happens theres another important reason taking benefits early might wise look various breakeven points social security claiming strategies reveals total dollars paid wait claim doesnt surpass total amount paid claim age 62 youre deep 70s data source authors calculation dont rely social security live invest social security checks breakeven age could get pushed back 80s beyond depending average annual returns social security designed pay amount total lifetime benefits regardless claim program using average life expectancy estimates reducing increasing payments depending age benefits claimed since total amount received supposed time individuals currently employed would like continue working might want hold claiming hitting age 66 two months individuals claim earlier full retirement age continue working social security check reduced earnings eclipse specific income thresholds opens new window 2017 earning 16920 result 1 reduction benefits every 2 earned limit money thats withheld added back benefits full retirement age dont lose definitely something take consideration furthermore may find beneficial continue working fulltime years order boost social security benefit full retirement age social security based highest 35 years inflationadjusted income youre highly compensated 60s 30s youve already accumulated 35year work history might want continue working remove lowincome earning years benefit calculation also tax implications opens new window associated working receiving social security could make advantageous delay claiming benefits instance youre single earn 25000 theres good chance youll pay taxes least social security income therefore taking social security means taxed waiting means wont taxed expect income fall threshold thenyou might want wait image source getty images want absolute biggest social security check get retirement claim simple wait age 70 social security rewards bonus payments called delayed retirement creditsif claim full retirement age credits add upspecifically irs increases monthly benefits twothirds 1 every month delay claiming benefit beyond full retirement age works 8 per year example born 1955 wait claim reach age 70 latest wait still receive delayed credits payment would 130 23 full retirement payment thats pretty nice guaranteed bump monthly income especially plan relying heavily social security pay bills retirement dont need money 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 motley fool disclosure policy opens new window | 612 |
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<p>The new year has been rough on Eli Lilly stock. After an impressive run-up last summer, those gains have been wiped out by a wave of pessimism that wounded the entire SPDR S&amp;P Pharmaceuticals index. Buoyed by large consumer goods and medical device segments,Johnson &amp; Johnson stock has largely avoided the pharmaceutical carnage and is basically flat for the year.</p>
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<p>Of course, recent stock performance is a poor predictor of future returns. Let's dive a bit deeper to see which of these two is a better buy.</p>
<p>Value focusAlthough Eli Lilly shares have taken a pounding lately, they're still trading at a significant premium to the broader market. At about 19.5 times consensus 2016 estimates, they're well above the S&amp;P 500average of 15.25.</p>
<p>In contrast, Johnson and Johnson's forward P/E Ratio of about 16 is just north of the broad market average.</p>
<p>Although Eli Lilly recently took on Novartis' animal health operations, it's mainly a pharmaceutical company. Measuring its P/E Ratio against a conglomerate with medical device and consumer goods segments is a bit like comparing apples to oranges. To put them on more even footing consider their PEG Ratios:</p>
<p>Measured as the forward P/E ratio divided by the expected earnings-per-share growth percentage during the period, stocks with forward PEG ratios below 1.0 are widely considered undervalued. Johnson &amp; Johnson falls into this territory, but based on this measurement Eli Lilly is far more attractive.</p>
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<p>Looking aheadBefore we get too worked up, it's important to understand what's expected to drive growth for these two in the year ahead, and beyond.</p>
<p>Eli Lilly's revealed its ace in the hole last November when a study of its type 2 diabetes pill, Jardiance produced some eye-popping data. After following more than 7,000 patients for about 3 years, those taking Jardiance showed a 38% reduced risk of death from heart attack or stroke, and a 35% reduced risk of hospitalization for heart failure.To date no glucose lowering medication has been shown to significantly reduce the risk of cardiovascular events in a study like this, and Lilly's shares popped following the announcement.</p>
<p>An estimated 387 million people worldwide have some form of diabetes, and at least 90% suffer from the type 2 variety.Two of three diabetics die from heart disease or stroke,which means Jardiance could literally save millions of lives. From a healthcare end-payer's point of view, its ability to reduce hospitalizations could relax some overstretched budgets.</p>
<p>You might expect health insurers would be practically demanding physicians to prescribe it to all eligible patients, but they're not. In fact, fourth quarter Jardiance sales of just $15 million were slightly lower than in the third quarter.Curiously enough, Johnson &amp; Johnson's Invokana is in the same class, with the same indication, and managed to rack up sales of $1.3 billion last year, without the benefit of groundbreaking cardiovascular outcome data.</p>
<p>Lilly's compelling PEG Ratio is based on consensus growth estimates. Jardiance sales growth based on its outcome study are probably a large part of those estimates. Lilly's abysmal performance marketing Jardiance thus far could be one reason investors are willing to pay a great deal more for Johnson &amp; Johnson's expected growth.</p>
<p>Dividend focusThose of you interested in a steadily growing source of income, might have noticed both stocks boast a 2.9% dividend yield. I'm afraid the similarities stop there. After freezing its dividend in 2009, Lilly just began raising it again. In stark contrast, Johnson &amp; Johnson shareholders have enjoyed larger payouts for 53 consecutive years.</p>
<p>If you're hoping for some big distribution hikes from Lilly in the years ahead, you'll probably be disappointed. The percentage of profits required to make payments, or the payout ratio, is dangerously high. Johnson &amp; Johnson on the other hand, has plenty of runway to keep increasing payments at a healthy pace.</p>
<p>What happenedSeveral years ago Johnson &amp; Johnson's pharmaceutical segment realized its early stage R&amp;D efforts were terribly inefficient. In response it cut its internal R&amp;D budget and began focusing on external collaborations and bolt-on deals.It turns out that having lots of capital is great for rushing promising drugs through the expensive late-development stages, and into the hands of patients.</p>
<p>While most of big pharma followed suit, Lilly bucked the trend. After becoming CEO in 2008,John Lechleiter actually boosted R&amp;D spending.</p>
<p>Expensive phase 3 failures -- solanezumab, ramucirumab, tabalumab, and evacetrapib, just to name a few -- compounded with an aging product line that's quickly losing ground to competition has finally forced Lilly to make R&amp;D cuts.</p>
<p>The company's earnings-per-share have fallen more than 35% during Lechleiter's tenure. How he's managed to keep his job is one of life's great mysteries, but which of these two is a better buy is clear. Lilly's compelling PEG Ratio could result in quick gains if those earnings estimates are realized, and if market sentiment improves. Those are some big "ifs". Over the long term, I'm confident Johnson &amp; Johnson stock is a far better buy.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/02/23/better-buy-now-eli-lilly-and-company-vs-johnson-jo.aspx" type="external">Better Buy Now: Eli Lilly and Company vs. Johnson &amp; Johnson Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/crenauer/info.aspx?source=eptfxblnk0000004" type="external">Cory Renauer Opens a New Window.</a> owns shares of Johnson &amp; Johnson. The Motley Fool recommends Johnson &amp; Johnson. 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 | new year rough eli lilly stock impressive runup last summer gains wiped wave pessimism wounded entire spdr sampp pharmaceuticals index buoyed large consumer goods medical device segmentsjohnson amp johnson stock largely avoided pharmaceutical carnage basically flat year continue reading course recent stock performance poor predictor future returns lets dive bit deeper see two better buy value focusalthough eli lilly shares taken pounding lately theyre still trading significant premium broader market 195 times consensus 2016 estimates theyre well sampp 500average 1525 contrast johnson johnsons forward pe ratio 16 north broad market average although eli lilly recently took novartis animal health operations mainly pharmaceutical company measuring pe ratio conglomerate medical device consumer goods segments bit like comparing apples oranges put even footing consider peg ratios measured forward pe ratio divided expected earningspershare growth percentage period stocks forward peg ratios 10 widely considered undervalued johnson amp johnson falls territory based measurement eli lilly far attractive advertisement looking aheadbefore get worked important understand whats expected drive growth two year ahead beyond eli lillys revealed ace hole last november study type 2 diabetes pill jardiance produced eyepopping data following 7000 patients 3 years taking jardiance showed 38 reduced risk death heart attack stroke 35 reduced risk hospitalization heart failureto date glucose lowering medication shown significantly reduce risk cardiovascular events study like lillys shares popped following announcement estimated 387 million people worldwide form diabetes least 90 suffer type 2 varietytwo three diabetics die heart disease strokewhich means jardiance could literally save millions lives healthcare endpayers point view ability reduce hospitalizations could relax overstretched budgets might expect health insurers would practically demanding physicians prescribe eligible patients theyre fact fourth quarter jardiance sales 15 million slightly lower third quartercuriously enough johnson amp johnsons invokana class indication managed rack sales 13 billion last year without benefit groundbreaking cardiovascular outcome data lillys compelling peg ratio based consensus growth estimates jardiance sales growth based outcome study probably large part estimates lillys abysmal performance marketing jardiance thus far could one reason investors willing pay great deal johnson amp johnsons expected growth dividend focusthose interested steadily growing source income might noticed stocks boast 29 dividend yield im afraid similarities stop freezing dividend 2009 lilly began raising stark contrast johnson amp johnson shareholders enjoyed larger payouts 53 consecutive years youre hoping big distribution hikes lilly years ahead youll probably disappointed percentage profits required make payments payout ratio dangerously high johnson amp johnson hand plenty runway keep increasing payments healthy pace happenedseveral years ago johnson amp johnsons pharmaceutical segment realized early stage rampd efforts terribly inefficient response cut internal rampd budget began focusing external collaborations bolton dealsit turns lots capital great rushing promising drugs expensive latedevelopment stages hands patients big pharma followed suit lilly bucked trend becoming ceo 2008john lechleiter actually boosted rampd spending expensive phase 3 failures solanezumab ramucirumab tabalumab evacetrapib name compounded aging product line thats quickly losing ground competition finally forced lilly make rampd cuts companys earningspershare fallen 35 lechleiters tenure hes managed keep job one lifes great mysteries two better buy clear lillys compelling peg ratio could result quick gains earnings estimates realized market sentiment improves big ifs long term im confident johnson amp johnson stock far better buy article better buy eli lilly company vs johnson amp johnson opens new window originally appeared foolcom cory renauer opens new window owns shares johnson amp johnson motley fool recommends johnson amp johnson 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 | 608 |
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<p>A day after flirting with record levels, U.S equity markets on Friday extended a global-market meltdown after the United Kingdom, in a stunning decision, voted to sever its more than 40-year membership in the European Union.</p>
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<p>At the closing bell, the Dow Jones Industrial Average plunged 611 points, or 3.39% to 17399. The S&amp;P 500 dropped 76 points, or 3.60% to 2037, while the Nasdaq Composite shed 202 points, or 4.12% to 4707.</p>
<p>The major averages ended just off the lows of the session, which saw the Dow drop more than 647 points – the index’s worst one-day point decline since 2011. Meanwhile, the S&amp;P 500 saw itsworst point performance in four months, while the Nasdaq’s suffered its most severe point decline in more than 16 years. To illustrate the rush on Wall Street, the Vix, which measures expected volatility over the next 30 days, jumped 43% during the session to 24.74.</p>
<p>“We expect the next several days to be as turbulent as other major market shocks of the last 15 years: September 11, the Lehman bankruptcy in 2008, the 2011 U.S. debt downgrade…and the 2015 China slowdown,” Erik Oja, banking analyst at S&amp;P Global Market Intelligence said. “Once the dust settles, investors will have a clearer view as to the longer-term effects of Brexit.”</p>
<p>On a weekly basis, the major averages each fell more than 1.5%, while Friday’s action pushed the S&amp;P 500 to join the Nasdaq in negative territory for the year.</p>
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<p>Brexit-Induced Carnage</p>
<p>Investors worldwide struggled to identify what the referendum’s results would mean for the slow-growing world economy as they parsed statements from prominent officials including U.K. Prime Minister David Cameron, who said he would step down from his post in the aftermath of the vote, and as central bankers pledged to do what they could to help keep liquidity from drying up.</p>
<p>Global stocks suffered steep losses in overnight trading. The pan-European Euro STOXX 600 dropped 7.03%. Meanwhile the U.K.’s FTSE 100 shed 3.15% --a less sharp decline compared to French and German indexes, which dropped 8.04% and 6.82% respectively as market participants feared the U.K.’s decision could open the floodgates for other EU nations to break their memberships. &#160;Markets in Asia leveled out before the close of trade, though Japan’s Nikkei ended down 7.92%.</p>
<p>Meanwhile, currency traders hammered the British pound, which plunged more than 10% overnight to a 1985 low as referendum returns hit the tape. By Friday afternoon, sterling was down 8.24% to $1.36 against the U.S. dollar. The move was a spectacular reversal from the rally seen just before the close of trade in the U.S. Thursday in which the British currency crossed $1.50, its highest level since December.</p>
<p>Global financial stocks were among those slammed in the widespread selloff amid unprecedented uncertainty about the effects of Britain’s exit from the EU. Citigroup (NYSE:C), Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS), and Goldman Sachs (NYSE:GS) all skidded more than 6%. The financial sector led Wall Street lower on the session as it dropped 5%.</p>
<p>Commodities also saw substantial losses as traders worried how the so-called Brexit would impact the global economy. West Texas Intermediate crude prices fell 4% to around $47, while Brent, the international benchmark also slid 4% to $48.</p>
<p>As traders fled high-risk assets, they sought cover in traditionally safe-havens including U.S. government debt and gold. The precious metal rallied 4.66%, jumping to $1,320 a troy ounce. Elsewhere, as the price climbed on the 10-year U.S. Treasury bond, the yield dropped 0.164 percentage point to 1.575%. &#160;The Yen also saw a big boost on Friday thanks to its safe-haven status. Against the dollar, the Japanese currency rose 3.67% in recent action.</p>
<p>While risk-off sentiment clearly dominated markets across the world, Deutsche Bank Chief International Economist Torsten Slok,said &#160;in a note Friday, the impact on the U.S. economy depends on how much financial conditions tighten.</p>
<p>“The shock we have seen so far in markets is not enough to push the U.S. economy into a recession. That said, if growth abroad weakens and financial conditions tighten further, then …the negative impact on the U.S. economy would be growing over time,” he said.</p>
<p>Chris Gaffney, EverBank World Markets president explained that the U.K.’s decision has essentially frozen the Federal Reserve on tentatively planned interest rate increase this year. He projects better odds the U.S. central bank will move to slash rates rather than raise them as the global environment becomes more unclear and rates in the U.K. and the ECB could move more negative.</p>
<p>Outside the financial world, Gaffney added the Brexit vote could potentially set off a chain reaction as other unsatisfied European Union members look for membership exit doors themselves.</p>
<p>“Scotland is looking to possibly break away from the U.K. and other peripheral countries in the EU may now look to have their own referendums regarding membership in the EU. Spanish elections this weekend throw another bit of uncertainty into he European markets,” he said.</p> | true | 0 | day flirting record levels us equity markets friday extended globalmarket meltdown united kingdom stunning decision voted sever 40year membership european union continue reading closing bell dow jones industrial average plunged 611 points 339 17399 sampp 500 dropped 76 points 360 2037 nasdaq composite shed 202 points 412 4707 major averages ended lows session saw dow drop 647 points indexs worst oneday point decline since 2011 meanwhile sampp 500 saw itsworst point performance four months nasdaqs suffered severe point decline 16 years illustrate rush wall street vix measures expected volatility next 30 days jumped 43 session 2474 expect next several days turbulent major market shocks last 15 years september 11 lehman bankruptcy 2008 2011 us debt downgradeand 2015 china slowdown erik oja banking analyst sampp global market intelligence said dust settles investors clearer view longerterm effects brexit weekly basis major averages fell 15 fridays action pushed sampp 500 join nasdaq negative territory year advertisement brexitinduced carnage investors worldwide struggled identify referendums results would mean slowgrowing world economy parsed statements prominent officials including uk prime minister david cameron said would step post aftermath vote central bankers pledged could help keep liquidity drying global stocks suffered steep losses overnight trading paneuropean euro stoxx 600 dropped 703 meanwhile uks ftse 100 shed 315 less sharp decline compared french german indexes dropped 804 682 respectively market participants feared uks decision could open floodgates eu nations break memberships 160markets asia leveled close trade though japans nikkei ended 792 meanwhile currency traders hammered british pound plunged 10 overnight 1985 low referendum returns hit tape friday afternoon sterling 824 136 us dollar move spectacular reversal rally seen close trade us thursday british currency crossed 150 highest level since december global financial stocks among slammed widespread selloff amid unprecedented uncertainty effects britains exit eu citigroup nysec bank america nysebac jpmorgan chase nysejpm morgan stanley nysems goldman sachs nysegs skidded 6 financial sector led wall street lower session dropped 5 commodities also saw substantial losses traders worried socalled brexit would impact global economy west texas intermediate crude prices fell 4 around 47 brent international benchmark also slid 4 48 traders fled highrisk assets sought cover traditionally safehavens including us government debt gold precious metal rallied 466 jumping 1320 troy ounce elsewhere price climbed 10year us treasury bond yield dropped 0164 percentage point 1575 160the yen also saw big boost friday thanks safehaven status dollar japanese currency rose 367 recent action riskoff sentiment clearly dominated markets across world deutsche bank chief international economist torsten sloksaid 160in note friday impact us economy depends much financial conditions tighten shock seen far markets enough push us economy recession said growth abroad weakens financial conditions tighten negative impact us economy would growing time said chris gaffney everbank world markets president explained uks decision essentially frozen federal reserve tentatively planned interest rate increase year projects better odds us central bank move slash rates rather raise global environment becomes unclear rates uk ecb could move negative outside financial world gaffney added brexit vote could potentially set chain reaction unsatisfied european union members look membership exit doors scotland looking possibly break away uk peripheral countries eu may look referendums regarding membership eu spanish elections weekend throw another bit uncertainty european markets said | 534 |
<p>For the first time in 12 years, Erie, Pennsylvania voters will elect a different mayor — and they might choose a Republican to run their Democratic city.</p>
<p>If John Persinger wins the mayoral race in Erie next month, it just might be the greatest local political upset in America this century, as a Republican candidate has not been elected mayor here since 1961, when JFK was president.</p>
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<p>The 35 year-old lawyer is tall, witty, energetic and razor-sharp. He’s not the guy you’d expect to settle in a town like Erie, but he is the kind of person who leaves, moves on to blazing success elsewhere and never returns.</p>
<p>Persinger got his undergrad degree at Harvard, where he was captain of the swim team, and he also competed in the 2000 US Olympic team trials.</p>
<p>From there he served as an aide in the George W. Bush White House and then chief of staff at the US Embassy in Australia, where he met his wife, a journalist fluent in Arabic. He left government for Notre Dame Law School, but when the couple started to have children, they decided Erie held the most promise for their young family.</p>
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<p>In many ways, they are correct. The city is affordable, the housing is charming, and it is both a college town and a tourist town with miles and miles of beaches along the lake. It boasts some of the top medical facilities in the country, and it is also a company town (Erie Insurance is one of the top employers).</p>
<p>But it is also a struggling city, where schools are hurting financially, the opioid epidemic is rampant, and the manufacturing base is collapsing, yet Hillary Clinton won all 69 of its voting districts over Donald Trump in Erie in the 2016 presidential election.</p>
<p>However, it is possible that Persinger can convince the majority of his 100,000 townspeople to turn red.</p>
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<p>“One of Erie’s biggest challenges in City Hall is a lack of guidance and stewardship,” Persinger told The Post.</p>
<p>“There are great institutions and individuals in the private sector, but there’s never really been a leader to bring them all together … to leverage that for greater outside investment and more opportunities outside the region.”</p>
<p>He seems unbothered by the fact he’s a Republican in a city with a nearly 3-1 Democratic registration advantage. Here, people are born blue.</p>
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<p>It doesn’t seem to ruffle him that his rival, Democrat Joe Schember, is one of the nicest guys in the world and has been active in the community for over 40 years. Plus, they’re neighbors who even live on the same street.</p>
<p>“Everyone asks me about my odds. I am confident if I run a good, honest campaign, I can win,” Persinger said. “I didn’t take time away from my family and waste the time of voters … not to win.”</p>
<p>Persinger drives around in a mobile campaign office (a 22-year-old converted RV) with his name and photo shrink-wrapped around the entire vehicle. He visits neighborhoods, churches, community centers, mosques, synagogues and knocks on doors where no Democratic or Republican mayoral candidate has been for decades, especially in the African-American and Hispanic communities.</p>
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<p>And he listens. It is a trait that has not gone unnoticed in the black communities who for years have had their votes taken for granted by the Democrats and ignored by the Republicans.</p>
<p>Just ask Steve McLallen, who got a visit from Persinger earlier this year. “Hey, I just want to let you know I appreciate your willingness to come and listen to our concerns,” McLallen told Persinger as he shook hands with the GOP candidate. “You have made an impression and impact on me, not just by traveling to our neighborhoods or where we work, but actually asking us what we need.”</p>
<p>A longtime Democrat, McLallen said he is voting for Persinger.</p>
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<p>Jim Baer, meanwhile, is looking for new blood in the mayor’s office. A welder at Fralo, he’s a Democrat who did not vote for Clinton or Trump but is tired of the same old politics. “Look, we tried the old ways; we have had nothing but Democrats running this city and managing the decline. It is time to place someone young with different ideas and the willingness to listen in charge,” he said.</p>
<p>Schember, meanwhile, is sitting in his campaign headquarters on State Street in downtown Erie. He is tall, soft-spoken, and it is clear he has spent his career solving problems.</p>
<p>“I grew up in Erie, the kids called me ‘Father Joe’ because at 13 I went away to seminary school. I knew I wanted to be a Catholic priest,” he said. That vocation did not change until he was a sophomore in college. Now 66, he is focusing his efforts on winning the traditional way. He has a list of “super voters,” who, he explains, “have shown up reliably for the past two general election cycles.” He is also contacting them with door knocks and phone calls.</p>
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<p>While neither candidate has invested in polling, both keep detailed data on their campaigns’ voter outreach and they know this race is close.</p>
<p>On Nov. 7, it will be clear whether machine politics has prevailed or if Persinger’s message has struck a chord — and caused a seismic shift — among the populace. So far, no one has paid much attention to this race outside the city limits. But if Persinger wins, a flood of national media will descend, trying to figure out what is wrong with Erie.</p>
<p>Do you think Persinger has a chance to become mayor of Erie? Let us know your thoughts.</p>
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<p>H/T <a href="https://nypost.com/2017/10/07/this-die-hard-democratic-city-is-about-to-turn-republican/" type="external">NY Post</a></p>
<p>What do you think? Scroll down to comment below.</p> | true | 0 | first time 12 years erie pennsylvania voters elect different mayor might choose republican run democratic city john persinger wins mayoral race erie next month might greatest local political upset america century republican candidate elected mayor since 1961 jfk president advertisement story continues 35 yearold lawyer tall witty energetic razorsharp hes guy youd expect settle town like erie kind person leaves moves blazing success elsewhere never returns persinger got undergrad degree harvard captain swim team also competed 2000 us olympic team trials served aide george w bush white house chief staff us embassy australia met wife journalist fluent arabic left government notre dame law school couple started children decided erie held promise young family advertisement story continues many ways correct city affordable housing charming college town tourist town miles miles beaches along lake boasts top medical facilities country also company town erie insurance one top employers also struggling city schools hurting financially opioid epidemic rampant manufacturing base collapsing yet hillary clinton 69 voting districts donald trump erie 2016 presidential election however possible persinger convince majority 100000 townspeople turn red advertisement story continues one eries biggest challenges city hall lack guidance stewardship persinger told post great institutions individuals private sector theres never really leader bring together leverage greater outside investment opportunities outside region seems unbothered fact hes republican city nearly 31 democratic registration advantage people born blue advertisement story continues doesnt seem ruffle rival democrat joe schember one nicest guys world active community 40 years plus theyre neighbors even live street everyone asks odds confident run good honest campaign win persinger said didnt take time away family waste time voters win persinger drives around mobile campaign office 22yearold converted rv name photo shrinkwrapped around entire vehicle visits neighborhoods churches community centers mosques synagogues knocks doors democratic republican mayoral candidate decades especially africanamerican hispanic communities advertisement story continues listens trait gone unnoticed black communities years votes taken granted democrats ignored republicans ask steve mclallen got visit persinger earlier year hey want let know appreciate willingness come listen concerns mclallen told persinger shook hands gop candidate made impression impact traveling neighborhoods work actually asking us need longtime democrat mclallen said voting persinger advertisement story continues jim baer meanwhile looking new blood mayors office welder fralo hes democrat vote clinton trump tired old politics look tried old ways nothing democrats running city managing decline time place someone young different ideas willingness listen charge said schember meanwhile sitting campaign headquarters state street downtown erie tall softspoken clear spent career solving problems grew erie kids called father joe 13 went away seminary school knew wanted catholic priest said vocation change sophomore college 66 focusing efforts winning traditional way list super voters explains shown reliably past two general election cycles also contacting door knocks phone calls advertisement story continues neither candidate invested polling keep detailed data campaigns voter outreach know race close nov 7 clear whether machine politics prevailed persingers message struck chord caused seismic shift among populace far one paid much attention race outside city limits persinger wins flood national media descend trying figure wrong erie think persinger chance become mayor erie let us know thoughts advertisement story continues ht ny post think scroll comment | 528 |
<p>It was just before noon in Moscow on March 10, 2016, when the first volley of malicious messages hit the Hillary Clinton campaign.</p>
<p>The first 29 phishing emails were almost all misfires. Addressed to people who worked for Clinton during her first presidential run, the messages bounced back untouched.</p>
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<p>Except one.</p>
<p>Within nine days, some of the campaign's most consequential secrets would be in the hackers' hands, part of a massive operation aimed at vacuuming up millions of messages from thousands of inboxes across the world.</p>
<p>An Associated Press investigation into the digital break-ins that disrupted the U.S. presidential contest has sketched out an anatomy of the hack that led to months of damaging disclosures about the Democratic Party's nominee. It wasn't just a few aides that the hackers went after; it was an all-out blitz across the Democratic Party. They tried to compromise Clinton's inner circle and more than 130 party employees, supporters and contractors.</p>
<p>While U.S. intelligence agencies have concluded that Russia was behind the email thefts, the AP drew on forensic data to report Thursday that the hackers known as Fancy Bear were closely aligned with the interests of the Russian government.</p>
<p>The AP's reconstruction— based on a database of 19,000 malicious links recently shared by cybersecurity firm Secureworks — shows how the hackers worked their way around the Clinton campaign's top-of-the-line digital security to steal chairman John Podesta's emails in March 2016.</p>
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<p>It also helps explain how a Russian-linked intermediary could boast to a Trump policy adviser, a month later, that the Kremlin had "thousands of emails" worth of dirt on Clinton.</p>
<p>____</p>
<p>PHISHING FOR VICTIMS</p>
<p>The rogue messages that first flew across the internet March 10 were dressed up to look like they came from Google, the company that provided the Clinton campaign's email infrastructure. The messages urged users to boost their security or change their passwords while in fact steering them toward decoy websites designed to collect their credentials.</p>
<p>One of the first people targeted was Rahul Sreenivasan, who had worked as a Clinton organizer in Texas in 2008 — his first paid job in politics. Sreenivasan, now a legislative staffer in Austin, was dumbfounded when told by the AP that hackers had tried to break into his 2008 email — an address he said had been dead for nearly a decade.</p>
<p>"They probably crawled the internet for this stuff," he said.</p>
<p>Almost everyone else targeted in the initial wave was, like Sreenivasan, a 2008 staffer whose defunct email address had somehow lingered online.</p>
<p>But one email made its way to the account of another staffer who'd worked for Clinton in 2008 and joined again in 2016, the AP found. It's possible the hackers broke in and stole her contacts; the data shows the phishing links sent to her were clicked several times.</p>
<p>Secureworks' data reveals when phishing links were created and indicates whether they were clicked. But it doesn't show whether people entered their passwords.</p>
<p>Within hours of a second volley emailed March 11, the hackers hit pay dirt. All of a sudden, they were sending links aimed at senior Clinton officials' nonpublic 2016 addresses, including those belonging to longtime Clinton aide Robert Russo and campaign chairman John Podesta.</p>
<p>The Clinton campaign was no easy target; several former employees said the organization put particular stress on digital safety.</p>
<p>Work emails were protected by two-factor authentication, a technique that uses a second passcode to keep accounts secure. Most messages were deleted after 30 days and staff went through phishing drills. Security awareness even followed the campaigners into the bathroom, where someone put a picture of a toothbrush under the words: "You shouldn't share your passwords either."</p>
<p>Two-factor authentication may have slowed the hackers, but it didn't stop them. After repeated attempts to break into various staffers' hillaryclinton.com accounts, the hackers turned to the personal Gmail addresses. It was there on March 19 that they targeted top Clinton lieutenants — including campaign manager Robby Mook, senior adviser Jake Sullivan and political fixer Philippe Reines.</p>
<p>A malicious link was generated for Podesta at 11:28 a.m. Moscow time, the AP found. Documents subsequently published by WikiLeaks show that the rogue email arrived in his inbox six minutes later. The link was clicked twice.</p>
<p>Podesta's messages — at least 50,000 of them — were in the hackers' hands.</p>
<p>___</p>
<p>A SERIOUS BREACH</p>
<p>Though the heart of the campaign was now compromised, the hacking efforts continued. Three new volleys of malicious messages were generated on the 22nd, 23rd and 25th of March, targeting communications director Jennifer Palmieri and Clinton confidante Huma Abedin, among others.</p>
<p>The torrent of phishing emails caught the attention of the FBI, which had spent the previous six months urging the Democratic National Committee in Washington to raise its shield against suspected Russian hacking. In late March, FBI agents paid a visit to Clinton's Brooklyn headquarters, where they were received warily, given the agency's investigation into the candidate's use of a private email server while secretary of state.</p>
<p>The phishing messages also caught the attention of Secureworks, a subsidiary of Dell Technologies, which had been following Fancy Bear, whom Secureworks codenamed Iron Twilight.</p>
<p>Fancy Bear had made a critical mistake.</p>
<p>It fumbled a setting in the Bitly link-shortening service that it was using to sneak its emails past Google's spam filter. The blunder exposed whom they were targeting.</p>
<p>It was late March when Secureworks discovered the hackers were going after Democrats.</p>
<p>"As soon as we started seeing some of those hillaryclinton.com email addresses coming through, the DNC email addresses, we realized it's going to be an interesting twist to this," said Rafe Pilling, a senior security researcher with Secureworks.</p>
<p>By early April Fancy Bear was getting increasingly aggressive, the AP found. More than 60 bogus emails were prepared for Clinton campaign and DNC staffers on April 6 alone, and the hackers began hunting for Democrats beyond New York and Washington, targeting the digital communications director for Pennsylvania Gov. Tom Wolf and a deputy director in the office of Chicago Mayor Rahm Emanuel.</p>
<p>The group's hackers seemed particularly interested in Democratic officials working on voter registration issues: Pratt Wiley, the DNC's then-director of voter protection, had been targeted as far back as October 2015 and the hackers tried to pry open his inbox as many as 15 times over six months.</p>
<p>Employees at several organizations connected to the Democrats were targeted, including the Clinton Foundation, the Center for American Progress, technology provider NGP VAN, campaign strategy firm 270 Strategies, and partisan news outlet Shareblue Media.</p>
<p>As the hacking intensified, other elements swung into place. On April 12, 2016, someone paid $37 worth of bitcoin to the Romanian web hosting company THCServers.com , to reserve a website called Electionleaks.com, according to transaction records obtained by AP. A botched registration meant the site never got off the ground, but the records show THC received a nearly identical payment a week later to create DCLeaks.com.</p>
<p>By the second half of April, the DNC's senior leadership was beginning to realize something was amiss. One DNC consultant, Alexandra Chalupa, received an April 20 warning from Yahoo saying her account was under threat from state-sponsored hackers, according to a screengrab she circulated among colleagues.</p>
<p>The Trump campaign had gotten a whiff of Clinton email hacking, too. According to recently unsealed court documents, former Trump foreign policy adviser George Papadopoulos said that it was at an April 26 meeting at a London hotel that he was told by a professor closely connected to the Russian government that the Kremlin had obtained compromising information about Clinton.</p>
<p>"They have dirt on her," Papadopoulos said he was told. "They have thousands of emails."</p>
<p>A few days later, Amy Dacey, then the DNC chief executive, got an urgent call.</p>
<p>There'd been a serious breach at the DNC.</p>
<p>___</p>
<p>'DON'T EVEN TALK TO YOUR DOG ABOUT IT'</p>
<p>It was 4 p.m. on Friday June 10 when some 100 staffers filed into the Democratic National Committee's main conference room for a mandatory, all-hands meeting.</p>
<p>"What I am about to tell you cannot leave this room," DNC chief operating officer Lindsey Reynolds told the assembled crowd, according to two people there at the time.</p>
<p>Everyone needed to turn in their laptops immediately; there would be no last-minute emails; no downloading documents and no exceptions. Reynolds insisted on total secrecy.</p>
<p>"Don't even talk to your dog about it," she was quoted as saying.</p>
<p>Reynolds didn't return messages seeking comment.</p>
<p>Two days later, as the cybersecurity firm that was brought in to clean out the DNC's computers finished its work, WikiLeaks founder Julian Assange told a British Sunday television show that emails related to Clinton were "pending publication."</p>
<p>"WikiLeaks has a very good year ahead," he said.</p>
<p>On Tuesday, June 14, the Democrats went public with the allegation that their computers had been compromised by Russian state-backed hackers, including Fancy Bear.</p>
<p>Shortly after noon the next day, William Bastone, the editor-in-chief of investigative news site The Smoking Gun, got an email bearing a small cache of documents marked "CONFIDENTIAL."</p>
<p>"Hi," the message said. "This is Guccifer 2.0 and this is me who hacked Democratic National Committee."</p>
<p>___</p>
<p>'CAN IT INFLUENCE THE ELECTION?'</p>
<p>Guccifer 2.0 acted as a kind of master of ceremonies during the summer of leaks, proclaiming that the DNC's stolen documents were in WikiLeaks' hands, publishing a selection of the material himself and constantly chatting up journalists over Twitter in a bid to keep the story in the press.</p>
<p>He appeared particularly excited to hear on June 24 that his leaks had sparked a lawsuit against the DNC by disgruntled supporters of Clinton rival Bernie Sanders.</p>
<p>"Can it influence the election in any how?" he asked a journalist with Russia's Sputnik News, in uneven English.</p>
<p>Later that month Guccifer 2.0 began directing reporters to the newly launched DCLeaks site, which was also dribbling out stolen material on Democrats. When WikiLeaks joined the fray on July 22 with its own disclosures the leaks metastasized into a crisis, triggering intraparty feuding that forced the resignation of the DNC's chairwoman and drew angry protests at the Democratic National Convention.</p>
<p>Guccifer 2.0, WikiLeaks and DCLeaks ultimately published more than 150,000 emails stolen from more than a dozen Democrats, according to an AP count.</p>
<p>The AP has since found that each of one of those Democrats had previously been targeted by Fancy Bear, either at their personal Gmail addresses or via the DNC, a finding established by running targets' emails against the Secureworks' list.</p>
<p>All three leak-branded sites have distanced themselves from Moscow. DCLeaks claimed to be run by American hacktivists. WikiLeaks said Russia wasn't its source. Guccifer 2.0 claimed to be Romanian.</p>
<p>But there were signs of dishonesty from the start. The first document Guccifer 2.0 published on June 15 came not from the DNC as advertised but from Podesta's inbox , according to a former DNC official who spoke on condition of anonymity because he was not authorized to speak to the press.</p>
<p>The official said the word "CONFIDENTIAL" was not in the original document .</p>
<p>Guccifer 2.0 had airbrushed it to catch reporters' attention.</p>
<p>___</p>
<p>'PLEASE GOD, DON'T LET IT BE ME'</p>
<p>To hear the defeated candidate tell it, there's no doubt the leaks helped swing the election.</p>
<p>"Even if Russian interference made only a marginal difference," Clinton told an audience at a recent speech at Stanford University, "this election was won at the margins, in the Electoral College."</p>
<p>It's clear Clinton's campaign was profoundly destabilized by the sudden exposures that regularly radiated from every hacked inbox. It wasn't just her arch-sounding speeches to Wall Street executives or the exposure of political machinations but also the brutal stripping of so many staffers' privacy.</p>
<p>"It felt like your friend had just been robbed, but it wasn't just one friend, it was all your friends at the same time by the same criminal," said Jesse Ferguson, a former Clinton spokesman.</p>
<p>An atmosphere of dread settled over the Democrats as the disclosures continued.</p>
<p>One staffer described walking through the DNC's office in Washington to find employees scrolling through articles about Putin and Russia. Another said she began looking over her shoulder when returning from Clinton headquarters in Brooklyn after sundown. Some feared they were being watched; a car break-in, a strange woman found lurking in a backyard late at night and even a snake spotted on the grounds of the DNC all fed an undercurrent of fear.</p>
<p>Even those who hadn't worked at Democratic organizations for years were anxious. Brent Kimmel, a former technologist at the DNC, remembers watching the leaks stream out and thinking: "Please God, don't let it be me."</p>
<p>___</p>
<p>'MAKE AMERICA GREAT AGAIN'</p>
<p>On Oct. 7, it was Podesta.</p>
<p>The day began badly, with Hillary Clinton's phone buzzing with crank messages after its number was exposed in a leak from the day before. The number had to be changed immediately; a former campaign official said that Abedin, Clinton's confidante, had to call staffers one at a time with Clinton's new contact information because no one dared put it in an email.</p>
<p>The same afternoon, just as the American electorate was digesting a lewd audio tape of Trump boasting about sexually assaulting women, WikiLeaks began publishing the emails stolen from Podesta.</p>
<p>The publications sparked a media stampede as they were doled out one batch at a time, with many news organizations tasking reporters with scrolling through the thousands of emails being released in tranches. At the AP alone, as many as 30 journalists were assigned, at various times, to go through the material.</p>
<p>Guccifer 2.0 told one reporter he was thrilled that WikiLeaks had finally followed through.</p>
<p>"Together with Assange we'll make america great again," he wrote.</p>
<p>___</p>
<p>Donn reported from Plymouth, Massachusetts. Desmond Butler, Ted Bridis, Julie Pace and Ken Thomas in Washington, Justin Myers in Chicago, Frank Bajak in Houston, Lori Hinnant in Paris, Maggie Michael in Cairo, Erika Kinetz in Shanghai and Vadim Ghirda in Bucharest, Romania contributed to this report.</p>
<p>___</p>
<p>Editor's Note: Satter's father, David Satter, is an author and Russia specialist who has been critical of the Russian government. Several of his emails were published last year by hackers and his address is on Secureworks' list.</p>
<p>___</p>
<p>Previously in this series: http://apne.ws/b8By82B</p> | true | 0 | noon moscow march 10 2016 first volley malicious messages hit hillary clinton campaign first 29 phishing emails almost misfires addressed people worked clinton first presidential run messages bounced back untouched continue reading except one within nine days campaigns consequential secrets would hackers hands part massive operation aimed vacuuming millions messages thousands inboxes across world associated press investigation digital breakins disrupted us presidential contest sketched anatomy hack led months damaging disclosures democratic partys nominee wasnt aides hackers went allout blitz across democratic party tried compromise clintons inner circle 130 party employees supporters contractors us intelligence agencies concluded russia behind email thefts ap drew forensic data report thursday hackers known fancy bear closely aligned interests russian government aps reconstruction based database 19000 malicious links recently shared cybersecurity firm secureworks shows hackers worked way around clinton campaigns topoftheline digital security steal chairman john podestas emails march 2016 advertisement also helps explain russianlinked intermediary could boast trump policy adviser month later kremlin thousands emails worth dirt clinton ____ phishing victims rogue messages first flew across internet march 10 dressed look like came google company provided clinton campaigns email infrastructure messages urged users boost security change passwords fact steering toward decoy websites designed collect credentials one first people targeted rahul sreenivasan worked clinton organizer texas 2008 first paid job politics sreenivasan legislative staffer austin dumbfounded told ap hackers tried break 2008 email address said dead nearly decade probably crawled internet stuff said almost everyone else targeted initial wave like sreenivasan 2008 staffer whose defunct email address somehow lingered online one email made way account another staffer whod worked clinton 2008 joined 2016 ap found possible hackers broke stole contacts data shows phishing links sent clicked several times secureworks data reveals phishing links created indicates whether clicked doesnt show whether people entered passwords within hours second volley emailed march 11 hackers hit pay dirt sudden sending links aimed senior clinton officials nonpublic 2016 addresses including belonging longtime clinton aide robert russo campaign chairman john podesta clinton campaign easy target several former employees said organization put particular stress digital safety work emails protected twofactor authentication technique uses second passcode keep accounts secure messages deleted 30 days staff went phishing drills security awareness even followed campaigners bathroom someone put picture toothbrush words shouldnt share passwords either twofactor authentication may slowed hackers didnt stop repeated attempts break various staffers hillaryclintoncom accounts hackers turned personal gmail addresses march 19 targeted top clinton lieutenants including campaign manager robby mook senior adviser jake sullivan political fixer philippe reines malicious link generated podesta 1128 moscow time ap found documents subsequently published wikileaks show rogue email arrived inbox six minutes later link clicked twice podestas messages least 50000 hackers hands ___ serious breach though heart campaign compromised hacking efforts continued three new volleys malicious messages generated 22nd 23rd 25th march targeting communications director jennifer palmieri clinton confidante huma abedin among others torrent phishing emails caught attention fbi spent previous six months urging democratic national committee washington raise shield suspected russian hacking late march fbi agents paid visit clintons brooklyn headquarters received warily given agencys investigation candidates use private email server secretary state phishing messages also caught attention secureworks subsidiary dell technologies following fancy bear secureworks codenamed iron twilight fancy bear made critical mistake fumbled setting bitly linkshortening service using sneak emails past googles spam filter blunder exposed targeting late march secureworks discovered hackers going democrats soon started seeing hillaryclintoncom email addresses coming dnc email addresses realized going interesting twist said rafe pilling senior security researcher secureworks early april fancy bear getting increasingly aggressive ap found 60 bogus emails prepared clinton campaign dnc staffers april 6 alone hackers began hunting democrats beyond new york washington targeting digital communications director pennsylvania gov tom wolf deputy director office chicago mayor rahm emanuel groups hackers seemed particularly interested democratic officials working voter registration issues pratt wiley dncs thendirector voter protection targeted far back october 2015 hackers tried pry open inbox many 15 times six months employees several organizations connected democrats targeted including clinton foundation center american progress technology provider ngp van campaign strategy firm 270 strategies partisan news outlet shareblue media hacking intensified elements swung place april 12 2016 someone paid 37 worth bitcoin romanian web hosting company thcserverscom reserve website called electionleakscom according transaction records obtained ap botched registration meant site never got ground records show thc received nearly identical payment week later create dcleakscom second half april dncs senior leadership beginning realize something amiss one dnc consultant alexandra chalupa received april 20 warning yahoo saying account threat statesponsored hackers according screengrab circulated among colleagues trump campaign gotten whiff clinton email hacking according recently unsealed court documents former trump foreign policy adviser george papadopoulos said april 26 meeting london hotel told professor closely connected russian government kremlin obtained compromising information clinton dirt papadopoulos said told thousands emails days later amy dacey dnc chief executive got urgent call thered serious breach dnc ___ dont even talk dog 4 pm friday june 10 100 staffers filed democratic national committees main conference room mandatory allhands meeting tell leave room dnc chief operating officer lindsey reynolds told assembled crowd according two people time everyone needed turn laptops immediately would lastminute emails downloading documents exceptions reynolds insisted total secrecy dont even talk dog quoted saying reynolds didnt return messages seeking comment two days later cybersecurity firm brought clean dncs computers finished work wikileaks founder julian assange told british sunday television show emails related clinton pending publication wikileaks good year ahead said tuesday june 14 democrats went public allegation computers compromised russian statebacked hackers including fancy bear shortly noon next day william bastone editorinchief investigative news site smoking gun got email bearing small cache documents marked confidential hi message said guccifer 20 hacked democratic national committee ___ influence election guccifer 20 acted kind master ceremonies summer leaks proclaiming dncs stolen documents wikileaks hands publishing selection material constantly chatting journalists twitter bid keep story press appeared particularly excited hear june 24 leaks sparked lawsuit dnc disgruntled supporters clinton rival bernie sanders influence election asked journalist russias sputnik news uneven english later month guccifer 20 began directing reporters newly launched dcleaks site also dribbling stolen material democrats wikileaks joined fray july 22 disclosures leaks metastasized crisis triggering intraparty feuding forced resignation dncs chairwoman drew angry protests democratic national convention guccifer 20 wikileaks dcleaks ultimately published 150000 emails stolen dozen democrats according ap count ap since found one democrats previously targeted fancy bear either personal gmail addresses via dnc finding established running targets emails secureworks list three leakbranded sites distanced moscow dcleaks claimed run american hacktivists wikileaks said russia wasnt source guccifer 20 claimed romanian signs dishonesty start first document guccifer 20 published june 15 came dnc advertised podestas inbox according former dnc official spoke condition anonymity authorized speak press official said word confidential original document guccifer 20 airbrushed catch reporters attention ___ please god dont let hear defeated candidate tell theres doubt leaks helped swing election even russian interference made marginal difference clinton told audience recent speech stanford university election margins electoral college clear clintons campaign profoundly destabilized sudden exposures regularly radiated every hacked inbox wasnt archsounding speeches wall street executives exposure political machinations also brutal stripping many staffers privacy felt like friend robbed wasnt one friend friends time criminal said jesse ferguson former clinton spokesman atmosphere dread settled democrats disclosures continued one staffer described walking dncs office washington find employees scrolling articles putin russia another said began looking shoulder returning clinton headquarters brooklyn sundown feared watched car breakin strange woman found lurking backyard late night even snake spotted grounds dnc fed undercurrent fear even hadnt worked democratic organizations years anxious brent kimmel former technologist dnc remembers watching leaks stream thinking please god dont let ___ make america great oct 7 podesta day began badly hillary clintons phone buzzing crank messages number exposed leak day number changed immediately former campaign official said abedin clintons confidante call staffers one time clintons new contact information one dared put email afternoon american electorate digesting lewd audio tape trump boasting sexually assaulting women wikileaks began publishing emails stolen podesta publications sparked media stampede doled one batch time many news organizations tasking reporters scrolling thousands emails released tranches ap alone many 30 journalists assigned various times go material guccifer 20 told one reporter thrilled wikileaks finally followed together assange well make america great wrote ___ donn reported plymouth massachusetts desmond butler ted bridis julie pace ken thomas washington justin myers chicago frank bajak houston lori hinnant paris maggie michael cairo erika kinetz shanghai vadim ghirda bucharest romania contributed report ___ editors note satters father david satter author russia specialist critical russian government several emails published last year hackers address secureworks list ___ previously series httpapnewsb8by82b | 1,445 |
<p>How many big biotech acquisitions can you name that have occurred so far in 2017?</p>
<p>Johnson &amp; Johnson (NYSE: JNJ) spent $30 billion to buy Swiss biotech Actelion. That's one. Then there's... well, actually, that's it. J&amp;J's acquisition of Actelion is the only truly big biotech buyout year to date, unless you also want to include Japanese drugmaker Takeda's $5.2 billion deal to buy Ariad in the first quarter.</p>
<p>Continue Reading Below</p>
<p>Why has 2017 been such a horrible year so far for biotech acquisitions? Here's the answer -- and why next year could see a flood of deals.</p>
<p>Just how bad has the acquisitions scene been this year? Look how 2017 compares with the past five years.</p>
<p>If the number of deals in the second half of 2017 matches the first half, this year will prove to have the lowest level of acquisitions activity among biotechs in recent memory. That's the number of deals, though. Let's examine the financial size of the biotech acquisitions so far this year.</p>
<p>In terms of combined deal value, 2017 has already outpaced 2012. However, remember that the J&amp;J acquisition of Actelion makes up nearly three-fifths of this year's total. It's still entirely possible that 2017 will have a lower combined deal value by the end of the year than any of the four previous years.</p>
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<p>In my view, there are two primary reasons there has been so little acquisitions activity thus far in 2017. I think that the biggest factor is the possibility of corporate tax reform.</p>
<p>Earlier this year, I analyzed the <a href="https://www.fool.com/investing/2017/05/01/3-big-drugmakers-that-could-make-billions-under-tr.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd19dd8c-7e15-11e7-85de-0050569d32b9&amp;utm_source=foxbusiness" type="external">possible impact of the tax proposals</a> laid out by the Trump administration for three big drugmakers. One component of the proposed changes particularly stands out as a cause behind big biopharmaceutical companies holding off on any big deals: repatriation of cash parked overseas.</p>
<p>Many big pharma companies have huge sums of their cash stockpiles parked overseas to avoid paying high U.S. taxes. If they could bring that money into the U.S. at lower tax rates, it could prime the pump in a major way for dealmaking.</p>
<p>President Trump wants&#160;a one-time discounted tax on money that companies bring from outside the U.S. into the country. While the administration didn't give a hard-and-fast number for this special tax rate, then-candidate Trump mentioned a 10% rate during the campaign.</p>
<p>Pfizer (NYSE: PFE) CEO Ian Read specifically mentioned the prospect for corporate tax reform as a reason the company wasn't looking at any significant deals during the company's first-quarter conference call in May. A few months earlier, Pfizer CFO&#160;Frank D'Amelio seemed especially interested in the possibility of repatriation of cash when he was questioned at the J.P. Morgan Healthcare Conference.</p>
<p>Another likely reason acquisition volume and size of deals has been down in 2017 is the political uncertainty in the U.S. about healthcare. Part of it could be that drugmakers want to wait and see what happens with the potential replacement of Obamacare. Although this possibility seems to be dead for now at least, that wasn't the case for much of the first half of the year. Another aspect of this uncertainty is President Trump's comments about going after pharmaceutical companies to lower drug prices (although this <a href="https://www.fool.com/investing/2017/06/22/donald-trump-drug-pricing-policies-better-for-biot.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd19dd8c-7e15-11e7-85de-0050569d32b9&amp;utm_source=foxbusiness" type="external">doesn't appear to be as worrisome of an issue now</a>).</p>
<p>There's no question that several big companies need and want to make acquisitions. Gilead Sciences (NASDAQ: GILD) is <a href="https://www.fool.com/investing/2017/07/16/these-3-charts-dont-lie-gilead-sciences-needs-an-a.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd19dd8c-7e15-11e7-85de-0050569d32b9&amp;utm_source=foxbusiness" type="external">a prime example</a>. The big biotech's hepatitis C sales are tanking, its HIV products aren't growing enough to offset those hep-C declines, and Gilead's pipeline won't deliver quickly enough to turn things around.&#160;Gilead's executives have been stating since last year that they want to make one or more acquisitions.</p>
<p>I suspect Gilead will wait to see what happens with tax reform. Put Pfizer on the list as well. The company made several significant deals last year and wants to make more. I also think Amgen should be looking to spend some of its big cash hoard to boost its pipeline. And those are just a few of the big companies that could join the fray.</p>
<p>My prediction is that acquisitions activity will kick into overdrive in 2018. I suspect that will be the case whether corporate tax reform passes or not. If it passes, companies will be champing at the bit to bring money back into the U.S. and will no doubt spend a good chunk of it to buy smaller biotechs. If tax reform fizzles out, my hunch is the big players will figure they might as well move forward anyway.</p>
<p>If I'm right, it could mean great news for several relatively smaller biotechs with promising products and pipelines. Investors who own shares of Exelixis (NASDAQ: EXEL),&#160;Incyte (NASDAQ: INCY), and several other up-and-coming biotechs could have a lot to look forward to next year.</p>
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<p>*Stock Advisor returns as of August 1, 2017</p>
<p><a href="http://my.fool.com/profile/TMFFishBiz/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=cd19dd8c-7e15-11e7-85de-0050569d32b9&amp;utm_source=foxbusiness" type="external">Keith Speights</a> owns shares of Gilead Sciences and Pfizer. The Motley Fool owns shares of and recommends Exelixis, Gilead Sciences, and Johnson &amp; Johnson. The Motley Fool has the following options: short August 2017 $75 calls on Gilead Sciences. 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=cd19dd8c-7e15-11e7-85de-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy</a>.</p> | true | 0 | many big biotech acquisitions name occurred far 2017 johnson amp johnson nyse jnj spent 30 billion buy swiss biotech actelion thats one theres well actually thats jampjs acquisition actelion truly big biotech buyout year date unless also want include japanese drugmaker takedas 52 billion deal buy ariad first quarter continue reading 2017 horrible year far biotech acquisitions heres answer next year could see flood deals bad acquisitions scene year look 2017 compares past five years number deals second half 2017 matches first half year prove lowest level acquisitions activity among biotechs recent memory thats number deals though lets examine financial size biotech acquisitions far year terms combined deal value 2017 already outpaced 2012 however remember jampj acquisition actelion makes nearly threefifths years total still entirely possible 2017 lower combined deal value end year four previous years advertisement view two primary reasons little acquisitions activity thus far 2017 think biggest factor possibility corporate tax reform earlier year analyzed possible impact tax proposals laid trump administration three big drugmakers one component proposed changes particularly stands cause behind big biopharmaceutical companies holding big deals repatriation cash parked overseas many big pharma companies huge sums cash stockpiles parked overseas avoid paying high us taxes could bring money us lower tax rates could prime pump major way dealmaking president trump wants160a onetime discounted tax money companies bring outside us country administration didnt give hardandfast number special tax rate thencandidate trump mentioned 10 rate campaign pfizer nyse pfe ceo ian read specifically mentioned prospect corporate tax reform reason company wasnt looking significant deals companys firstquarter conference call may months earlier pfizer cfo160frank damelio seemed especially interested possibility repatriation cash questioned jp morgan healthcare conference another likely reason acquisition volume size deals 2017 political uncertainty us healthcare part could drugmakers want wait see happens potential replacement obamacare although possibility seems dead least wasnt case much first half year another aspect uncertainty president trumps comments going pharmaceutical companies lower drug prices although doesnt appear worrisome issue theres question several big companies need want make acquisitions gilead sciences nasdaq gild prime example big biotechs hepatitis c sales tanking hiv products arent growing enough offset hepc declines gileads pipeline wont deliver quickly enough turn things around160gileads executives stating since last year want make one acquisitions suspect gilead wait see happens tax reform put pfizer list well company made several significant deals last year wants make also think amgen looking spend big cash hoard boost pipeline big companies could join fray prediction acquisitions activity kick overdrive 2018 suspect case whether corporate tax reform passes passes companies champing bit bring money back us doubt spend good chunk buy smaller biotechs tax reform fizzles hunch big players figure might well move forward anyway im right could mean great news several relatively smaller biotechs promising products pipelines investors shares exelixis nasdaq exel160incyte nasdaq incy several upandcoming biotechs could lot look forward next year 10 stocks like better gilead scienceswhen 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 investors buy right gilead sciences wasnt one thats right think 10 stocks even better buys click learn picks stock advisor returns august 1 2017 keith speights owns shares gilead sciences pfizer motley fool owns shares recommends exelixis gilead sciences johnson amp johnson motley fool following options short august 2017 75 calls gilead sciences motley fool disclosure policy | 567 |
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<p>Image source: Getty Images.</p>
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<p>A long-haul investing approach has been proven time and time again to outperform short-term trading, and with sales and profit ticking higher again at these large-capitalization companies, today may be the perfect time to stash them away in forever portfolios.</p>
<p>Pfizer Inc.'s(NYSE: PFE)sales have been sliding since patent protection ended on its megablockbuster cholesterol drug Lipitor, but sales have started to head higher again thanks to new drugs and acquisitions and that could make buying shares in this company savvy.</p>
<p>Growing use of the breast cancer drug Ibrance and the top-selling anticoagulant Eliquis have allowed Pfizer to deliver six consecutive quarters of operations growth. Global sales of Ibrance have surged to $942 million through the first six months of this year from $178 million in the comparable period of 2015. Meanwhile, Pfizer's alliance revenue, which includes its share of Eliquis sales (Eliquis is co-promoted by Bristol-Myers Squibb), has jumped 45% to $722 million through the first two quarters of this year.</p>
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<p>The combination of rising sales for newer drugs like these and the acquisition of key companies that expand its footprint in biosimilars (via it's $17 billion acquisition of Hospira) and cancer treatment (via its $14 billion acquisition of Medivation) positions Pfizer nicely for future growth as well.</p>
<p>Exiting Q2, Pfizer is guiding for sales north of $51 billion this year, up from $49 billion last year. Pfizer's also targeting EPS of $2.38 this year, or more, up from $2.20 last year.If the company delivers on those targets, then it should be able to keep on rewarding investors with an above-market dividend yield, especially since management proved its commitment to income investors by upping the dividend payout when revenue was falling.</p>
<p><a href="http://ycharts.com/companies/PFE/revenues_ttm" type="external">PFE revenue (TTM)</a> data by <a href="http://ycharts.com" type="external">YCharts Opens a New Window.</a>.</p>
<p>Microsoft Corp.'s(NASDAQ: MSFT)CEO Satya Nadella has a big vision for the global software Goliath that includes reducing its reliance on PCs and boosting revenue from cloud-based software solutions.</p>
<p>So far, Nadella's transformation of Microsoft is off to a solid start, and if he can continue to execute on his plan, then revenue and profit growth could make shares in Microsoft trade higher.</p>
<p>Thanks tosales in its productivity and business processes segment increasing 8% (constant currency) to $7 billion and intelligent cloud segment sales increasing 10% (constant currency) to $6.7 billion, Microsoft posted operational year-over-year sales growth of 5% in its fiscal fourth quarter. That's pretty darn good for a company that's been facing stiff headwinds associated with sluggish PC sales.</p>
<p>A big contributor to Microsoft's turnaround isOffice 365, its online productivity software suite. In fiscal Q4, Office 365 revenue from businesses grew 54% year over year. Another big contributor to top-line growth is Azure, its app building and management suite. Azure sales more than doubled from a year ago last quarter and Azure's netting 120,000 new subscribers every month.</p>
<p>Sales tailwinds are also offered by rising subscriptions for Xbox Live, which allows Xbox players to compete against one another online, and the integration of Bing search and Cortana throughout Microsoft's product line-up.Xbox Live membership grew 33% and search revenue improved 16% in the past year.</p>
<p>Overall, Microsoft thinks deeper integration within the 85% of Fortune 500 companies relying on its cloud products can help propel cloud-based revenue to $20 billion in 2018 from $12 billion today. That opportunity, a rock-solid balance sheet that boasts over $100 billion in cash, and the recent acquisition of LinkedIn could all make Microsoft a big-cap growth stock worth stashing away in portfolios.</p>
<p>Food and Drug Administration sanctions, lawsuits, and sluggish demand have all taken a big toll on Boston Scientific (NYSE: BSX) investors over the years. However, it seems that fortunes may be improving for this beleaguered medical device maker.</p>
<p><a href="http://ycharts.com/companies/BSX/revenues_ttm" type="external">BSX revenue (TTM)</a> data by <a href="http://ycharts.com" type="external">YCharts</a>.</p>
<p>In Q1, sales were up 11.1% year over year and in Q2, sales jumped 15.4% from a year ago to $2.13 billion.Driving the accelerating growth was a 12.7% increase in cardiovascular sales, a 29% increase in medical surgical sales, and a 52.8% surge in defibrillator sales from a year ago.</p>
<p>The results led Boston Scientific to update its sales guidance for the year to north of $8.27 billion from prior expectations of more than $8.07 billion. Sales growth is also translating into gains on the bottom line.Non-GAAP EPS increased 22.7% year over year to $0.27 last quarter and that has management guiding for full-year EPS of $1.07 this year, up from guidance of $1.03 earlier this year.</p>
<p>Improving top and bottom lines have led to a big jump in the company's share price this year,but the rally may not be over. Management thinks it can boost its adjusted operating margin, and if so, then adjusted EPS should benefit from tailwinds in sales and cost savings next year. In 2015, adjusted operating margin was 22.3%, but management thinks it will grow to 25% in 2017 and more than 27% in 2020.</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=2518&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/EBCapitalMarkets/info.aspx" type="external">Todd Campbell Opens a New Window.</a>owns shares of Microsoft.Todd owns E.B. Capital Markets, LLC. E.B. Capital's clients may have positions in the companies mentioned.Like this article? Follow him onTwitter where he goes by the handle <a href="https://twitter.com/ebcapital" type="external">@ebcapital Opens a New Window.</a>to see more articles like this.The Motley Fool owns shares of LinkedIn and Microsoft. 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 longhaul investing approach proven time time outperform shortterm trading sales profit ticking higher largecapitalization companies today may perfect time stash away forever portfolios pfizer incsnyse pfesales sliding since patent protection ended megablockbuster cholesterol drug lipitor sales started head higher thanks new drugs acquisitions could make buying shares company savvy growing use breast cancer drug ibrance topselling anticoagulant eliquis allowed pfizer deliver six consecutive quarters operations growth global sales ibrance surged 942 million first six months year 178 million comparable period 2015 meanwhile pfizers alliance revenue includes share eliquis sales eliquis copromoted bristolmyers squibb jumped 45 722 million first two quarters year advertisement combination rising sales newer drugs like acquisition key companies expand footprint biosimilars via 17 billion acquisition hospira cancer treatment via 14 billion acquisition medivation positions pfizer nicely future growth well exiting q2 pfizer guiding sales north 51 billion year 49 billion last year pfizers also targeting eps 238 year 220 last yearif company delivers targets able keep rewarding investors abovemarket dividend yield especially since management proved commitment income investors upping dividend payout revenue falling pfe revenue ttm data ycharts opens new window microsoft corpsnasdaq msftceo satya nadella big vision global software goliath includes reducing reliance pcs boosting revenue cloudbased software solutions far nadellas transformation microsoft solid start continue execute plan revenue profit growth could make shares microsoft trade higher thanks tosales productivity business processes segment increasing 8 constant currency 7 billion intelligent cloud segment sales increasing 10 constant currency 67 billion microsoft posted operational yearoveryear sales growth 5 fiscal fourth quarter thats pretty darn good company thats facing stiff headwinds associated sluggish pc sales big contributor microsofts turnaround isoffice 365 online productivity software suite fiscal q4 office 365 revenue businesses grew 54 year year another big contributor topline growth azure app building management suite azure sales doubled year ago last quarter azures netting 120000 new subscribers every month sales tailwinds also offered rising subscriptions xbox live allows xbox players compete one another online integration bing search cortana throughout microsofts product lineupxbox live membership grew 33 search revenue improved 16 past year overall microsoft thinks deeper integration within 85 fortune 500 companies relying cloud products help propel cloudbased revenue 20 billion 2018 12 billion today opportunity rocksolid balance sheet boasts 100 billion cash recent acquisition linkedin could make microsoft bigcap growth stock worth stashing away portfolios food drug administration sanctions lawsuits sluggish demand taken big toll boston scientific nyse bsx investors years however seems fortunes may improving beleaguered medical device maker bsx revenue ttm data ycharts q1 sales 111 year year q2 sales jumped 154 year ago 213 billiondriving accelerating growth 127 increase cardiovascular sales 29 increase medical surgical sales 528 surge defibrillator sales year ago results led boston scientific update sales guidance year north 827 billion prior expectations 807 billion sales growth also translating gains bottom linenongaap eps increased 227 year year 027 last quarter management guiding fullyear eps 107 year guidance 103 earlier year improving top bottom lines led big jump companys share price yearbut rally may management thinks boost adjusted operating margin adjusted eps benefit tailwinds sales cost savings next year 2015 adjusted operating margin 223 management thinks grow 25 2017 27 2020 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 todd campbell opens new windowowns shares microsofttodd owns eb capital markets llc eb capitals clients may positions companies mentionedlike article follow ontwitter goes handle ebcapital opens new windowto see articles like thisthe motley fool owns shares linkedin microsoft 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 | 647 |
<p>In this segment from <a href="https://www.fool.com/podcasts/marketfoolery?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Market Foolery Opens a New Window.</a>, host Chris Hill is joined by Motley Fool analystDavid Kretzmann as they break down how coffee-and-pastry focused JAB Holding Company will fit a fast casual brand into its privately held portfolio. With the acquisition, the JAB is expected to give thePanera Bread(NASDAQ: PNRA)team even more autonomy than usual.</p>
<p>A full transcript follows the video.</p>
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<p>10 stocks we like better than Panera BreadWhen 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=cc221e76-2e3c-468a-83d4-0e27d8da4b50&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 Panera Bread 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=cc221e76-2e3c-468a-83d4-0e27d8da4b50&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>
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<p>This video was recorded on April 5, 2017.</p>
<p>Chris Hill:Panera Breadis being bought, and we now knowit's going to be bought byJABHoldings. It's a $7.5 billion deal. If you're aPanera Bread shareholder, you're having one hell of a good week. A week ago, the stock was trading around $250, and the buyout price is going to be $315 a share. What did you think when you saw this news? JAB Holdings, youlook at their portfolio, the companies that they own, they are very deep into the food space. They haveKrispy Kreme donuts,Green Mountain Coffee,Peet's Coffee, Caribou.</p>
<p>David Kretzmann:They love their coffee.</p>
<p>Hill:They do.</p>
<p>Kretzmann:Itdefinitely makes a lot more sense thanDomino'sacquiringPanera. Panera seems like a much better fit. And, based on what Ron Shaich, the founder and CEO of Panera, has been saying, it sounds like JAB will be giving Panera a lot of autonomy. To me, that would bethe only way a deal like this would make sense. You get the impression that Shaich andcompany really love what they do, and the Panera 2.0 concept is really clicking. So, I would expect JAB to be a little bit more hands off with Paneracompared to Krispy Kreme or Keurig, which were brands orcompanies that were struggling a little bit more.Keurig hadKeurig Kold, that was the big deal thattotally fell flat on its face around the time when JAB bought them out. Panera seems like it's a good fit, based on where JAB has been going. Like I said,probably a little bit more hands off. I think it makes sense, and for Ron Shaich and company, they can be fully in control,from the sound of it. So, it sounds like a good deal for both.</p>
<p>Hill:It does. The one thing -- and you and and Aaron Bush and I weretalking about this earlier this morning -- that'sa little puzzling to me is, if you think aboutKrispy Kreme, Keurig Green Mountain, Peet's, Caribou, when they were allpublic companies on their own, by the time JAB got around to buying them, they had struggled,as you said. And it was one of those situations where I remember thinking,particularly in the case of Keurig Green Mountain, "Well, that's good. That's good, that they'regoing the private-equity route, because then they can be out of the spotlight." Panera Bread is crushing it. So,that's the only thing that's a little bit puzzling to me. But, as Aaron Bush said, maybe JAB just wanted something a little easier that they didn't have to go in and fix.</p>
<p>Kretzmann:Yeah,they don't have to fiddle with it quite as much. And it sounds like that's what JAB wants, that's what Panera wants. So, it makes sense there. A few years ago, there was a much different conversation around Panera. Even here at the Fool, we had agood amount of people here who were skeptical about wherePanera was going. It was struggling ona lot of different fronts. And it wasn't immediately clear whether Panera 2.0 would click. Butit turns out Panera was one of the first restaurant chains to embrace digital, mobile, online ordering. And as a result, at a time when a lot of restaurants are struggling, Panera today is putting out astounding numbers, it'swell at the top of the pack,alongside companies like Domino's and others. A few years ago, it wasn't as obvious that Panera would turn into what it has today. The company, even over the past five years, still, after this pop, the stock has still underperformed the S&amp;P 500. I know we have some people at the Fool who follow the company and recommended it a lot longer. If you've held the stock for 8 to 10 years, you've come out well ahead. It's up 300% to 400%. But over the past few years,the company has still struggled. Andit's only really within the last 12 to 18 months thatit became clear that 2.0 was going somewhere. I think,in the grand scheme of things, it still could be somewhat early. But like we were talking about, JAB, at this point, you just let Panera and Shaich do what they're doing,because it's clearly working. And in the restaurant space, not a lot of restaurants can say that.</p>
<p>Hill:Right. I watched an interview that Shaich gave this morning, andone of the things he was talking about was, you go back three years when he made the famous mosh pit comment, andhe was absolutely right about that. Butone of the things he talked about in this interview was how long it takes. It'snot just a matter of "you need an app" and make it easy for people to order. No. You have to make sure that there are people in the kitchen who aregoing to be able to deliver on what is being ordered. The stat thatsurprised me a little bit when he said it, butI suppose it makes perfect sense, when it comes to mobile ordering at Panera Bread, 70% of those orders are customized. So, it's not just someone saying, "I want a bowl of chicken soup," or "I want this sandwich." It's "I want this sandwich, I want it on this type of bread,I don't want themayonnaise, I do want spicy mustard." All that sort of thing. They really put so much ... it's all the more impressive what they have done. It's also, if you are, for example, aStarbucksshareholder, where one of the recent stories about their business is, they'restruggling a little bit with the mobile ordering front, you realize, "Oh, yeah, there's a lot more that goes into it. It's not something that can be turned around in one or two quarters."</p>
<p>Kretzmann:No,certainly not. I think another company thatreally needs to take notes from Panera and Starbucks isChipotle.Chipotle actually took theChief Information Officer, Curt Garner, from Starbucks about a year-and-a-half ago. Even at Chipotle,it's like going through molasses there,it's just so slow to improve the app. I love Chipotle, I'm one of their regular users,but their mobile and online ordering experience,compared to Panera and Starbucks, is just way behind. This stuff does take time. I think it justreiterates or reinforces the importance that as investors, you have to be patient. No company is going to go up in astraight line. Companies like Panera or Starbucks will go through these stumbles, but if you believe in the leadership, the long-term advantage of a company, it pays to stick it out. Even though Panera had a few years where it struggled,by and large patient investors are coming out ahead. So,I think it's critical to be patient, which is easier said than donewhen you are investing in a company that's going through some shorter-term stumbles.</p>
<p>Hill:Bestperforming restaurant stock of the last 20 years,better than Chipotle, Starbucks, any of them. It has returned over 10,000% over a 20 year period. So,definitely a testament to long term buy and hold.</p>
<p><a href="http://my.fool.com/profile/TMFWizard/info.aspx" type="external">Chris Hill Opens a New Window.</a> owns shares of Chipotle Mexican Grill and Starbucks. <a href="http://my.fool.com/profile/TMFPencils/info.aspx" type="external">David Kretzmann Opens a New Window.</a> owns shares of Chipotle Mexican Grill, Domino's Pizza, Panera Bread, and Starbucks. The Motley Fool owns shares of and recommends Chipotle Mexican Grill and Starbucks. The Motley Fool owns shares of Panera Bread. The Motley Fool is short Domino's Pizza and has the following options: short June 2017 $140 puts on Domino's Pizza. 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 | segment market foolery opens new window host chris hill joined motley fool analystdavid kretzmann break coffeeandpastry focused jab holding company fit fast casual brand privately held portfolio acquisition jab expected give thepanera breadnasdaq pnrateam even autonomy usual full transcript follows video continue reading 10 stocks like better panera breadwhen 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 panera bread wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns april 3 2017 advertisement video recorded april 5 2017 chris hillpanera breadis bought knowits going bought byjabholdings 75 billion deal youre apanera bread shareholder youre one hell good week week ago stock trading around 250 buyout price going 315 share think saw news jab holdings youlook portfolio companies deep food space havekrispy kreme donutsgreen mountain coffeepeets coffee caribou david kretzmannthey love coffee hillthey kretzmannitdefinitely makes lot sense thandominosacquiringpanera panera seems like much better fit based ron shaich founder ceo panera saying sounds like jab giving panera lot autonomy would bethe way deal like would make sense get impression shaich andcompany really love panera 20 concept really clicking would expect jab little bit hands paneracompared krispy kreme keurig brands orcompanies struggling little bit morekeurig hadkeurig kold big deal thattotally fell flat face around time jab bought panera seems like good fit based jab going like saidprobably little bit hands think makes sense ron shaich company fully controlfrom sound sounds like good deal hillit one thing aaron bush weretalking earlier morning thatsa little puzzling think aboutkrispy kreme keurig green mountain peets caribou allpublic companies time jab got around buying struggledas said one situations remember thinkingparticularly case keurig green mountain well thats good thats good theyregoing privateequity route spotlight panera bread crushing sothats thing thats little bit puzzling aaron bush said maybe jab wanted something little easier didnt go fix kretzmannyeahthey dont fiddle quite much sounds like thats jab wants thats panera wants makes sense years ago much different conversation around panera even fool agood amount people skeptical wherepanera going struggling ona lot different fronts wasnt immediately clear whether panera 20 would click butit turns panera one first restaurant chains embrace digital mobile online ordering result time lot restaurants struggling panera today putting astounding numbers itswell top packalongside companies like dominos others years ago wasnt obvious panera would turn today company even past five years still pop stock still underperformed sampp 500 know people fool follow company recommended lot longer youve held stock 8 10 years youve come well ahead 300 400 past yearsthe company still struggled andits really within last 12 18 months thatit became clear 20 going somewhere thinkin grand scheme things still could somewhat early like talking jab point let panera shaich theyre doingbecause clearly working restaurant space lot restaurants say hillright watched interview shaich gave morning andone things talking go back three years made famous mosh pit comment andhe absolutely right butone things talked interview long takes itsnot matter need app make easy people order make sure people kitchen aregoing able deliver ordered stat thatsurprised little bit said buti suppose makes perfect sense comes mobile ordering panera bread 70 orders customized someone saying want bowl chicken soup want sandwich want sandwich want type breadi dont want themayonnaise want spicy mustard sort thing really put much impressive done also example astarbucksshareholder one recent stories business theyrestruggling little bit mobile ordering front realize oh yeah theres lot goes something turned around one two quarters kretzmannnocertainly think another company thatreally needs take notes panera starbucks ischipotlechipotle actually took thechief information officer curt garner starbucks yearandahalf ago even chipotleits like going molasses thereits slow improve app love chipotle im one regular usersbut mobile online ordering experiencecompared panera starbucks way behind stuff take time think justreiterates reinforces importance investors patient company going go astraight line companies like panera starbucks go stumbles believe leadership longterm advantage company pays stick even though panera years struggledby large patient investors coming ahead soi think critical patient easier said donewhen investing company thats going shorterterm stumbles hillbestperforming restaurant stock last 20 yearsbetter chipotle starbucks returned 10000 20 year period sodefinitely testament long term buy hold chris hill opens new window owns shares chipotle mexican grill starbucks david kretzmann opens new window owns shares chipotle mexican grill dominos pizza panera bread starbucks motley fool owns shares recommends chipotle mexican grill starbucks motley fool owns shares panera bread motley fool short dominos pizza following options short june 2017 140 puts dominos pizza motley fool disclosure policy opens new window | 769 |
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<p>Networking giant Cisco Systems (NASDAQ: CSCO) managed to beat revenue and earnings estimates when it reported its fiscal first-quarter results on Nov. 16, but the stock sank regardless. Cisco's core switching business was weak, some of its most important growth businesses didn't grow at all, and its guidance for the second quarter left a lot to be desired. Here are 10 key metrics from Cisco's earnings report that sum up the company's results.</p>
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<p>Image source: Cisco Systems.</p>
<p>1%: Cisco's total revenue declined by 2.6% year over year during the first quarter, but this number doesn't take into account an important divestiture. Cisco sold its set-top box business in 2015, with the transaction closing in late November. Excluding revenue from that business, Cisco's total revenue increased by 1% during the first quarter.</p>
<p>1,326: Cisco announced a significant restructuring effort in August, with the aim of cutting costs in low-growth areas and shifting resources into the company's major growth initiatives. Cisco planned to eliminate 5,500 positions beginning in the first quarter, about 7% of its global workforce, with essentially all of the cost savings slated for reinvestment. Cisco's headcount dropped by 1,326 during the first quarter as part of this restructuring plan, with layoffs being partially offset by new hires in growth businesses.</p>
<p>-7%: Switching is Cisco's largest business, responsible for 30% of total revenue during the first quarter. It was also the weakest segment for Cisco, posting a 7% year-over-year revenue decline. Cisco's switching business depends on its customers' willingness to invest in their infrastructure, which in turn depends on the general economic outlook. When economic uncertainty rears its ugly head, Cisco's customers tend to slow down. CFO Kelly Kramer pointed to campus switching as the major driver of the company's weak results:</p>
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<p>11%: One of the areas where Cisco is investing the cost savings from its restructuring is security. The security business generated $540 million of revenue during the first quarter -- up 11% year over year -- making it the fastest-growing segment for the company. Acquisitions are driving some of this growth, with Cisco aiming to <a href="http://www.fool.com/investing/general/2016/05/04/ibm-and-cisco-have-the-same-security-strategy.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">offer integrated solutions Opens a New Window.</a> that stand out in a fragmented security industry.</p>
<p>48%: Security is one area of Cisco's business that's shifting toward software -- particularly subscription software. This shift is spreading out revenue that would have previously been recognized upfront, hurting Cisco's headline numbers in the short run. Kramer estimates that this transition reduced Cisco's revenue by as much as two percentage points during the first quarter.</p>
<p>Deferred revenue, which is revenue that has not yet been recognized, is one way to measure the progress of Cisco's subscription businesses. Total deferred revenue grew by 12% year over year in the first quarter to $17 billion, with the portion of product deferred revenue related to recurring and subscription businesses surging 48%.</p>
<p>-3%: The data center segment, which includes Cisco's UCS servers, suffered a 3% year-over-year revenue decline during the first quarter. Data center was growing at a double-digit pace not too long ago, making this result particularly disappointing. Cisco pointed to a market shift from blade to rack servers as well as general macro-economic uncertainty as the main drivers behind the decline.</p>
<p>$3.1 billion: Despite a weak quarter in many of Cisco's key segments, the company remained wildly profitable. Non-GAAP net income was $3.1 billion, with a gross margin of 65.2% and an operating margin of 31.6%.</p>
<p>-2% to -4%: One reason shares of Cisco fell following the company's earnings report was weak guidance. Excluding the divested set-top business, Cisco expects second-quarter revenue to decline by between 2% and 4%. The company isn't modeling any improvement in capital expenditures from its service provider customers, although CEO Chuck Robbins is hopeful that some headwinds will turn into tailwinds once President-elect Trump takes office.</p>
<p>$36.2 billion: Cisco is one of many large companies currently hoarding billions of dollars overseas, with $36.2 billion of net cash on its balance sheet. As it stands today, profits from international operations can't be brought into the U.S. without that cash being taxed at 35%. With President-elect Trump promising to enact a repatriation tax holiday, <a href="http://www.fool.com/retirement/2016/11/05/donald-trumps-corporate-tax-repatriation-plan-woul.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">reducing that rate to 10% Opens a New Window.</a>, Cisco's mountain of overseas cash could finally be put to use. The company is considering increased share buybacks, a higher dividend payment, debt reduction, acquisitions, and strategic investments as options if it's able to repatriate its overseas cash.</p>
<p>$14.4 billion: Even without using its overseas cash, Cisco has been able to buy back a tremendous number of shares, in part by taking on debt. The company spent $1 billion on share buybacks during the first quarter, and it's spent a total of $97.6 billion since it began its share buyback program. $14.4 billion remains authorized for further share buybacks, although this number could rise if a repatriation holiday becomes a reality.</p>
<p>Cisco's first-quarter results may have beaten expectations, but its core switching business is suffering from weak demand, and its data center business has stopped growing altogether. The shift to subscription software and macro-economic uncertainty are teaming up to cause all sorts of problems for the company -- at least as far as the headline numbers are concerned. Investors will need to wait and see if the situation begins to improve in 2017.</p>
<p>10 stocks we like better than Cisco Systems 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=21239abb-c516-4f9d-84aa-4bcc683c7118&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 Cisco Systems 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=21239abb-c516-4f9d-84aa-4bcc683c7118&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 November 7, 2016.</p>
<p><a href="http://my.fool.com/profile/TMFBargainBin/info.aspx" type="external">Timothy Green Opens a New Window.</a> owns shares of Cisco Systems. The Motley Fool recommends Cisco Systems. 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 | networking giant cisco systems nasdaq csco managed beat revenue earnings estimates reported fiscal firstquarter results nov 16 stock sank regardless ciscos core switching business weak important growth businesses didnt grow guidance second quarter left lot desired 10 key metrics ciscos earnings report sum companys results continue reading image source cisco systems 1 ciscos total revenue declined 26 year year first quarter number doesnt take account important divestiture cisco sold settop box business 2015 transaction closing late november excluding revenue business ciscos total revenue increased 1 first quarter 1326 cisco announced significant restructuring effort august aim cutting costs lowgrowth areas shifting resources companys major growth initiatives cisco planned eliminate 5500 positions beginning first quarter 7 global workforce essentially cost savings slated reinvestment ciscos headcount dropped 1326 first quarter part restructuring plan layoffs partially offset new hires growth businesses 7 switching ciscos largest business responsible 30 total revenue first quarter also weakest segment cisco posting 7 yearoveryear revenue decline ciscos switching business depends customers willingness invest infrastructure turn depends general economic outlook economic uncertainty rears ugly head ciscos customers tend slow cfo kelly kramer pointed campus switching major driver companys weak results advertisement 11 one areas cisco investing cost savings restructuring security security business generated 540 million revenue first quarter 11 year year making fastestgrowing segment company acquisitions driving growth cisco aiming offer integrated solutions opens new window stand fragmented security industry 48 security one area ciscos business thats shifting toward software particularly subscription software shift spreading revenue would previously recognized upfront hurting ciscos headline numbers short run kramer estimates transition reduced ciscos revenue much two percentage points first quarter deferred revenue revenue yet recognized one way measure progress ciscos subscription businesses total deferred revenue grew 12 year year first quarter 17 billion portion product deferred revenue related recurring subscription businesses surging 48 3 data center segment includes ciscos ucs servers suffered 3 yearoveryear revenue decline first quarter data center growing doubledigit pace long ago making result particularly disappointing cisco pointed market shift blade rack servers well general macroeconomic uncertainty main drivers behind decline 31 billion despite weak quarter many ciscos key segments company remained wildly profitable nongaap net income 31 billion gross margin 652 operating margin 316 2 4 one reason shares cisco fell following companys earnings report weak guidance excluding divested settop business cisco expects secondquarter revenue decline 2 4 company isnt modeling improvement capital expenditures service provider customers although ceo chuck robbins hopeful headwinds turn tailwinds presidentelect trump takes office 362 billion cisco one many large companies currently hoarding billions dollars overseas 362 billion net cash balance sheet stands today profits international operations cant brought us without cash taxed 35 presidentelect trump promising enact repatriation tax holiday reducing rate 10 opens new window ciscos mountain overseas cash could finally put use company considering increased share buybacks higher dividend payment debt reduction acquisitions strategic investments options able repatriate overseas cash 144 billion even without using overseas cash cisco able buy back tremendous number shares part taking debt company spent 1 billion share buybacks first quarter spent total 976 billion since began share buyback program 144 billion remains authorized share buybacks although number could rise repatriation holiday becomes reality ciscos firstquarter results may beaten expectations core switching business suffering weak demand data center business stopped growing altogether shift subscription software macroeconomic uncertainty teaming cause sorts problems company least far headline numbers concerned investors need wait see situation begins improve 2017 10 stocks like better cisco systems 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 nowand cisco systems wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns november 7 2016 timothy green opens new window owns shares cisco systems motley fool recommends cisco systems 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 | 678 |
<p>Target is recalling Halloween-themed LED gel decorations that stick to windows and light up because parts can be ingested by children. Other recalled consumer products this week include circular saws, lawnmowers and rice and slow cookers.</p>
<p>Here's a more detailed look:</p>
<p>Continue Reading Below</p>
<p>LED GEL CLINGS</p>
<p>DETAILS: Six different Halloween-themed LED gel clings that come with two non-replaceable button cell batteries, sold at Target stores nationwide from August 2016 through September 2016 for about $1. The gel clings are for window use only and light up with a blinking light when you push on them. The six different gel cling designs are a green skeleton, pink skeleton, purple spider, black cat, orange pumpkin, and black bat. Model number 234-25-0904 is printed on the gel cling's packaging.</p>
<p>WHY: The gel clings can separate and expose the inner decal and LED/button battery compartment, posing choking and button battery ingestion hazards to children.</p>
<p>INCIDENT: None reported.</p>
<p>HOW MANY: About 127,000.</p>
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<p>FOR MORE: Contact Target at 800-440-0680, online at www.Target.com and click on "School/Stationery/Seasonal" on the product recalls page for more information, or the "Product Recalls" tab on Target's Facebook page.</p>
<p>CIRCULAR SAWS</p>
<p>DETAILS: Makita 5057KB 7-1/4" circular saw with dust collector. The model number and serial number are located on the black nameplate under the name "Makita." The saw's housing is a blue-green color and "Makita" is printed on the dust cover. The saws were sold at Tools Plus and other industrial suppliers nationwide and various websites including www.Amazon.com from March 2016 through September 2016 for about $400.</p>
<p>WHY: The lower blade guard can malfunction and expose the blade, posing a laceration hazard and risk of injury to the consumer.</p>
<p>INCIDENT: None reported.</p>
<p>HOW MANY: About 450.</p>
<p>FOR MORE: Contact Makita U.S.A. at 800-462-5482 or online at www.makitatools.com for more information.</p>
<p>FOOD DEHYDRATORS</p>
<p>DETAILS: Cabela's commercial grade 80-liter and 160-liter food dehydrators. The stainless steel dehydrators have model numbers 541549 on the 80 liter, and 541650 on the 160 liters. Model numbers are located on the back panel of the dehydrator.</p>
<p>WHY: Defective wiring can cause a build-up of heat, posing a fire hazard</p>
<p>INCIDENT: There are nine reports of the product malfunctioning due to defective wiring. No injuries have been reported.</p>
<p>HOW MANY: About 3,000.</p>
<p>FOR MORE: Contact Cabela's at 800-237-4444 or online at www.cabelas.com for more information.</p>
<p>SWIVEL ROCKING LOUNGE CHAIRS</p>
<p>DETAILS: Summer Classics swivel rocking lounge chairs in the Aire, Belize, Bentley, Charleston, and Skye styles in multiple colors and finishes. The chairs were sold at Summer Classics stores and other stores nationwide from September 2015 through October 2016 for between $1,100 and $2,400. They are made for outdoor use and are designed to swivel 360 degrees and rock back and forth. An "SC" brass logo is affixed to the back of the chairs.</p>
<p>WHY: The seat bucket of the lounge chairs can break away from the base while a user is in the chair, posing a fall hazard.</p>
<p>INCIDENT: There are six reports of the lounge chairs breaking. No injuries have been reported.</p>
<p>HOW MANY: About 800.</p>
<p>FOR MORE: Contact Summer Classics toll-free at 888-868-4267 or online at www.summerclassics.com for more information.</p>
<p>RICE AND SLOW COOKERS</p>
<p>DETAILS: 3 Squares-branded Tim3 Machin3 and Mini Tim3 Machin3 rice and slow cookers with fixed power cords sold at stores and online from December 2015 through July 2016 for between $30 and $70. The 20-cup/4-quart or 8-cup/1.7-quart programmable electric cookers are stainless steel with black molded plastic, have a control panel/keypad on the front and measure about 11 inches in diameter and12 inches tall. The 3Squares logo is printed on the front of the control panel. Model numbers starting with 3RC and ending in 3010S, 3020S, 3434, 5020 and 9010S are included in the recall. The model number is printed on a label on the side of the product.</p>
<p>WHY: The rice/slow cooker's improperly installed wiring can cause electrical shorting in the unit, posing fire and electric shock hazards.</p>
<p>INCIDENT: There are three incident reports, including a cooker sparking when turned on and a cooker turning itself on. One shock injury was reported.</p>
<p>HOW MANY: About 175,000 in the U.S. and 100 in Canada.</p>
<p>FOR MORE: Contact 3 Squares at 800-390-0249 or online at www.Get3Squares.com and click on Recall for more information.</p>
<p>LAWNMOWERS</p>
<p>DETAILS: Husqvarna, Poulan Pro, Jonsered, Craftsman, Yardworks, Murray, and Brute brand walk-behind gas powered lawn mowers with Briggs &amp; Stratton 7.25 HP engines. They were sold in red, orange, blue and yellow/black colors at Lowe's, Sears and other hardware stores nationwide from November 2015 through August 2016 for between $250 and $450.The mower model and serial number can be found on the rear of the mowing deck, next to the rear wheel.</p>
<p>WHY: The operator presence control bar can malfunction and cause the engine and blades to continue to operate when they should shut off, posing a laceration hazard to the operator.</p>
<p>INCIDENT: There are 53 reports of the engine not shutting off after the operator presence control bar was released. No injuries have been reported.</p>
<p>HOW MANY: About 235,000 total, 27,000 of which were sold in Canada.</p>
<p>FOR MORE: Contact Husqvarna toll-free at 877-257-6921, email at [email protected] or online at http://husqvarna.custhelp.com/app/answers/detail/a_id/1255/ for more information.</p>
<p>DIVING COMPUTERS</p>
<p>DETAILS: TUSA DC Solar Link IQ1204 diving computers sold at sporting goods stores nationwide from March 2016 through June 2016 for about $750. The black or white and blue wrist-watch style diving computers have a digital screen. TUSA is printed on the front of the diving computer. The model number and serial number is printed on the back of the diving computer below "TUSA DC Solar Link." Recalled diving computers have serial numbers 6TA0001 - 6TA2864.</p>
<p>WHY: The dive computer can malfunction and display an incorrect reading to the diver, posing a drowning and injury hazard due to decompression sickness.</p>
<p>INCIDENT: None reported.</p>
<p>HOW MANY: About 175.</p>
<p>FOR MORE: Contact TUSA at 800-482-2282 or online at http://www.tusa.com/recall.pdf for more information.</p> | true | 0 | target recalling halloweenthemed led gel decorations stick windows light parts ingested children recalled consumer products week include circular saws lawnmowers rice slow cookers heres detailed look continue reading led gel clings details six different halloweenthemed led gel clings come two nonreplaceable button cell batteries sold target stores nationwide august 2016 september 2016 1 gel clings window use light blinking light push six different gel cling designs green skeleton pink skeleton purple spider black cat orange pumpkin black bat model number 234250904 printed gel clings packaging gel clings separate expose inner decal ledbutton battery compartment posing choking button battery ingestion hazards children incident none reported many 127000 advertisement contact target 8004400680 online wwwtargetcom click schoolstationeryseasonal product recalls page information product recalls tab targets facebook page circular saws details makita 5057kb 714 circular saw dust collector model number serial number located black nameplate name makita saws housing bluegreen color makita printed dust cover saws sold tools plus industrial suppliers nationwide various websites including wwwamazoncom march 2016 september 2016 400 lower blade guard malfunction expose blade posing laceration hazard risk injury consumer incident none reported many 450 contact makita usa 8004625482 online wwwmakitatoolscom information food dehydrators details cabelas commercial grade 80liter 160liter food dehydrators stainless steel dehydrators model numbers 541549 80 liter 541650 160 liters model numbers located back panel dehydrator defective wiring cause buildup heat posing fire hazard incident nine reports product malfunctioning due defective wiring injuries reported many 3000 contact cabelas 8002374444 online wwwcabelascom information swivel rocking lounge chairs details summer classics swivel rocking lounge chairs aire belize bentley charleston skye styles multiple colors finishes chairs sold summer classics stores stores nationwide september 2015 october 2016 1100 2400 made outdoor use designed swivel 360 degrees rock back forth sc brass logo affixed back chairs seat bucket lounge chairs break away base user chair posing fall hazard incident six reports lounge chairs breaking injuries reported many 800 contact summer classics tollfree 8888684267 online wwwsummerclassicscom information rice slow cookers details 3 squaresbranded tim3 machin3 mini tim3 machin3 rice slow cookers fixed power cords sold stores online december 2015 july 2016 30 70 20cup4quart 8cup17quart programmable electric cookers stainless steel black molded plastic control panelkeypad front measure 11 inches diameter and12 inches tall 3squares logo printed front control panel model numbers starting 3rc ending 3010s 3020s 3434 5020 9010s included recall model number printed label side product riceslow cookers improperly installed wiring cause electrical shorting unit posing fire electric shock hazards incident three incident reports including cooker sparking turned cooker turning one shock injury reported many 175000 us 100 canada contact 3 squares 8003900249 online wwwget3squarescom click recall information lawnmowers details husqvarna poulan pro jonsered craftsman yardworks murray brute brand walkbehind gas powered lawn mowers briggs amp stratton 725 hp engines sold red orange blue yellowblack colors lowes sears hardware stores nationwide november 2015 august 2016 250 450the mower model serial number found rear mowing deck next rear wheel operator presence control bar malfunction cause engine blades continue operate shut posing laceration hazard operator incident 53 reports engine shutting operator presence control bar released injuries reported many 235000 total 27000 sold canada contact husqvarna tollfree 8772576921 email recallshusqvarnacom online httphusqvarnacusthelpcomappanswersdetaila_id1255 information diving computers details tusa dc solar link iq1204 diving computers sold sporting goods stores nationwide march 2016 june 2016 750 black white blue wristwatch style diving computers digital screen tusa printed front diving computer model number serial number printed back diving computer tusa dc solar link recalled diving computers serial numbers 6ta0001 6ta2864 dive computer malfunction display incorrect reading diver posing drowning injury hazard due decompression sickness incident none reported many 175 contact tusa 8004822282 online httpwwwtusacomrecallpdf information | 605 |
<p />
<p>Image source: Apple.</p>
<p>Continue Reading Below</p>
<p>If you read through Apple's (NASDAQ: AAPL) blockbuster lawsuit against Qualcomm (NASDAQ: QCOM), there's quite a bit of animosity toward how Qualcomm conducted its business with Apple over the years. This was not a pleasant relationship -- at least according to Apple.</p>
<p>Instead, this relationship was skewed significantly in favor of Qualcomm, and there wasn't a whole lot that Apple could do since the iPhone fundamentally relies on cellular connectivity. This is easily the only time that Apple has not had the upper hand with a supplier relationship. Look no further than Apple's own <a href="http://www.fool.com/investing/general/2014/11/08/apple-incs-latest-supplier-negotiating-tactics-wit.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">negotiating tactics Opens a New Window.</a> with now-defunct GT Advanced to see how hard Apple could squeeze its suppliers. Yet Qualcomm was able to become the most powerful Apple supplier ever.</p>
<p>This story has at least a decade of history that you need to know to fully appreciate why Apple felt desperate enough to sue. "I've always hated litigation and I continue to hate it," said CEO Tim Cook in 2014, so we know Apple isn't trigger-happy when it comes to suing. The Mac maker simply had enough. Note that what follows is largely Apple's side, as laid out in the complaint. Qualcomm will of course offer a different perspective.</p>
<p>That being said, let's start from the beginning.</p>
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<p>Much of Qualcomm's patent portfolio is considered essential to cellular standards that enable modern mobile devices to connect to cellular networks, which is the foundation of its licensing business. Standards-essential patents (SEPs) must be licensed to anyone, including competitors, at fair, reasonable, and non-discriminatory (FRAND) rates.</p>
<p>Apple initially sourced baseband modems from Infineon, which was subsequently acquired by Intel, for the first four years. Even before Apple ever bought its first Qualcomm baseband, it had to pay licensing fees indirectly through its contract manufacturers. Apple attempted to negotiate a direct license with Qualcomm, but was unable to, according to its complaint:</p>
<p>As a way to get relief on excessive royalties, Apple entered into a "Marketing Incentive Agreement" with Qualcomm in 2007 that prohibited it from marketing WiMAX devices, an emerging 4G standard that would compete with LTE -- and which Qualcomm lacks meaningful patents for. Obviously, if Apple can't market a device, it won't make said device. While this was before Apple became a major player in the smartphone market, this agreement certainly contributed to WiMAX's death.</p>
<p>It was around 2007 that Qualcomm allegedly stopped licensing its SEPs to rivals, and began charging separately for licenses. This violated the <a href="http://www.fool.com/investing/2017/01/23/apple-incs-lawsuit-is-a-fundamental-threat-to-qual.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">patent exhaustion doctrine Opens a New Window.</a> of patent law.</p>
<p>In January, Analog Devices exited the baseband market by selling its baseband business to MediaTek for $350 million in cash. MediaTek was one of the few remaining baseband companies.</p>
<p>In October, Freescale announcedthat it was discontinuing all mobile chips, including basebands, RF transceivers, and more.</p>
<p>Ericsson and STMicroelectronics formed a joint venture, ST-Ericsson, in order to target the mobile market, including basebands, among other chips.</p>
<p>Knowing that it wanted to eventually release an iPhone that could connect to CDMA networks, Apple started to lay the foundation of procuring baseband chipsets from Qualcomm in the near future. Incredibly, Apple was unable to get Qualcomm to commit to its supply requirements, a standard ask of prospective suppliers. On the contrary, Qualcomm specifically retained the right to withhold chips as leverage.</p>
<p>During this year, Qualcomm also found itself subject to regulatory investigations in both Japan and South Korea over its shenanigans.</p>
<p>Note that this 2009 Korea Fair Trade Commission (KFTC) fine is separate from another one that the KFTC just imposed a few weeks ago.</p>
<p>This was a big one. In many ways, this was the year that Apple fully <a href="http://www.fool.com/investing/2017/01/23/apple-inc-had-to-get-in-bed-with-qualcomm-because.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">got into bed with Qualcomm Opens a New Window.</a>, largely because Verizon's 3G network uses CDMA instead of GSM. As the largest U.S. carrier, it was an important strategic move for Apple ahead of the scheduled end of AT&amp;T exclusivity. Fully aware of this, Qualcomm flexed its licensing muscles:</p>
<p>Qualcomm's exclusivity in supplying all baseband chipsets began in 2011. Seeking relief from excessive royalties, Qualcomm gave Apple rebates that were contingent upon, among other things, exclusivity. We're talking about billions of dollars:</p>
<p>This exclusivity ended just a few months ago, with Intel coming on board as a second supplier. The timing of this lawsuit is surely not a coincidence.</p>
<p>NVIDIA announced in May that it is acquiring Icera's baseband and RF assets for $367 million, with the hopes of both addressing the baseband market as well as integrating cellular connectivity into its new Tegra line of mobile chips.</p>
<p>After deciding to exit the baseband market four years prior, Texas Instruments continued its planned <a href="http://www.fool.com/investing/general/2012/09/26/texas-instruments-ditches-mobile.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">exit of the mobile chip market Opens a New Window.</a>. TI discontinued its OMAP applications processors, and kept ratcheting down its baseband business.TI had still been making baseband for a few prominent customers, but now planned to wind them down completely by year's end.</p>
<p>Apple kicked off 2013 with a new Business Cooperation and Patent Agreement (BCPA) that took effect on the first day of the year. This was simply an agreement intended in part to provide royalty relief. This BCPA also had the provision that Apple could not instigate or induce any regulatory investigations, although Apple was allowed to cooperate if approached.</p>
<p>In other words, Apple didn't even wait a full month following the BCPA's expiration to file suit.</p>
<p>Ericsson and STMicroelectronics decided to dissolve the ST-Ericsson joint venture, with Ericsson taking over baseband modem products. It would exit soon.</p>
<p>Broadcomagreedin September to acquire the 4G LTE assets from Japan-based Renesas for $164 million.</p>
<p>China's National Development and Reform Commission (NDRC) began its anti-monopoly investigation in November.</p>
<p>Broadcom announced in June that it would <a href="http://www.fool.com/investing/general/2014/06/02/better-late-than-never-broadcom-corporation-bails.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">formally exit Opens a New Window.</a>the baseband market, and would attempt to sell its baseband assets. The company expected to save $700 million in annual operating expenses as a result. CEO Scott McGregor would later saythat Broadcom was losing $2 millionper dayby trying to compete in the baseband market. Of the initial 2,500 estimated layoffs, McGregor said 500 employees were able to find other positions at Broadcom, but 2,000 workers were let go.</p>
<p>No wonder companies kept exiting the baseband modem market. Image source: Intel Investor Meeting 2014.</p>
<p>Both the U.S. Federal Trade Commission and the European Commission opened their own investigations, commencing in September and October, respectively.</p>
<p>Apple attempted yet again to negotiate a direct license, knowing that several agreements would expire in less than two years. It was unsuccessful.</p>
<p>Roughly a year and a half after ST-Ericsson's dissolution, Ericsson also bailed on basebands, cutting 1,000 jobs in the process.</p>
<p>In February, Qualcomm settled with China's NDRC and negotiated a rectification plan. The company paid the $975 million fine in full and agreed to modify its business practices in the Middle Kingdom. Qualcomm began charging royalty rates of 5% for 3G CDMA and WCDMA devices, including multimode devices that use both 3G and 4G. 4G devices that do not use CDMA fetch 3.5%. In both cases, that percentage is levied on a royalty base of 65% of the device's net selling price. Qualcomm offered these terms to Apple, but Apple rejected them, not believing that the offer was consistent with FRAND.</p>
<p>Four years after acquiring Icera's baseband assets, NVIDIA announced in May that it would wind down its Icera baseband operations, conceding defeat to Qualcomm.</p>
<p>Marvell announced a "significant restructuring" of its mobile platform, also <a href="http://www.fool.com/investing/general/2015/09/25/marvell-is-the-latest-to-bail-on-the-smartphone-ch.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">bailing on mobile chips Opens a New Window.</a> like basebands and applications processors. Annualized operating expense savings were estimated at $170 million to $220 million; Marvell laid off 17% of its employees.</p>
<p>The European Commission sentQualcomm two formal Statements of Objection in December based on its preliminary conclusions that "the company may have illegally paid a major customer for exclusively using its chipsets and sold chipsets below cost with the aim of forcing a competitor out of the market." Well, now we know who that major customer is, although Apple wasn't named at the time.</p>
<p>Apple approached Qualcomm once again in February looking for a direct license. During discussions, Qualcomm disagreed on which patents may or may not be in fact essential, and the company removed a public list of its patents from its website.</p>
<p>Qualcomm's exclusivity as Apple's baseband supplier ended in the spring.</p>
<p>The KFTC requested information from Apple, and Apple testified to the KFTC in August. Less than a month later, Qualcomm retaliated by withholding the quarterly Q2 rebate payment outlined by the BCPA that Apple had earned as of June 30 but wasn't due to be paid until September. Qualcomm hasn't paid the subsequent two quarterly payments, either. The $1 billion that Apple is seeking comprises three quarterly payments.</p>
<p>That more or less brings us up to speed with how Qualcomm extracted exclusivity from Apple, which was a key factor in pushing out rivals. Apple is by far the largest purchaser of stand-alone modems, and missing out on that business was utterly fatal for rivals' baseband ambitions. In Apple's words:</p>
<p>No other Apple supplier in history has been able to wield such power over the Cupertino company. The key differentiator was Qualcomm's massive patent portfolio, combined with its willingness to disregard industry norms as well as its own FRAND licensing commitments. Perhaps more importantly for Apple going forward, there will probably never be another supplier with this much power ever again.</p>
<p>10 stocks we like better than Apple 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=a79f3528-d4c4-4955-b5ae-b3076638dd49&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 Apple 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=a79f3528-d4c4-4955-b5ae-b3076638dd49&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/TMFNewCow/info.aspx" type="external">Evan Niu, CFA Opens a New Window.</a> owns shares of Apple. The Motley Fool owns shares of and recommends Apple, Nvidia, and Qualcomm. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. The Motley Fool recommends Intel and Verizon Communications. 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 apple continue reading read apples nasdaq aapl blockbuster lawsuit qualcomm nasdaq qcom theres quite bit animosity toward qualcomm conducted business apple years pleasant relationship least according apple instead relationship skewed significantly favor qualcomm wasnt whole lot apple could since iphone fundamentally relies cellular connectivity easily time apple upper hand supplier relationship look apples negotiating tactics opens new window nowdefunct gt advanced see hard apple could squeeze suppliers yet qualcomm able become powerful apple supplier ever story least decade history need know fully appreciate apple felt desperate enough sue ive always hated litigation continue hate said ceo tim cook 2014 know apple isnt triggerhappy comes suing mac maker simply enough note follows largely apples side laid complaint qualcomm course offer different perspective said lets start beginning advertisement much qualcomms patent portfolio considered essential cellular standards enable modern mobile devices connect cellular networks foundation licensing business standardsessential patents seps must licensed anyone including competitors fair reasonable nondiscriminatory frand rates apple initially sourced baseband modems infineon subsequently acquired intel first four years even apple ever bought first qualcomm baseband pay licensing fees indirectly contract manufacturers apple attempted negotiate direct license qualcomm unable according complaint way get relief excessive royalties apple entered marketing incentive agreement qualcomm 2007 prohibited marketing wimax devices emerging 4g standard would compete lte qualcomm lacks meaningful patents obviously apple cant market device wont make said device apple became major player smartphone market agreement certainly contributed wimaxs death around 2007 qualcomm allegedly stopped licensing seps rivals began charging separately licenses violated patent exhaustion doctrine opens new window patent law january analog devices exited baseband market selling baseband business mediatek 350 million cash mediatek one remaining baseband companies october freescale announcedthat discontinuing mobile chips including basebands rf transceivers ericsson stmicroelectronics formed joint venture stericsson order target mobile market including basebands among chips knowing wanted eventually release iphone could connect cdma networks apple started lay foundation procuring baseband chipsets qualcomm near future incredibly apple unable get qualcomm commit supply requirements standard ask prospective suppliers contrary qualcomm specifically retained right withhold chips leverage year qualcomm also found subject regulatory investigations japan south korea shenanigans note 2009 korea fair trade commission kftc fine separate another one kftc imposed weeks ago big one many ways year apple fully got bed qualcomm opens new window largely verizons 3g network uses cdma instead gsm largest us carrier important strategic move apple ahead scheduled end atampt exclusivity fully aware qualcomm flexed licensing muscles qualcomms exclusivity supplying baseband chipsets began 2011 seeking relief excessive royalties qualcomm gave apple rebates contingent upon among things exclusivity talking billions dollars exclusivity ended months ago intel coming board second supplier timing lawsuit surely coincidence nvidia announced may acquiring iceras baseband rf assets 367 million hopes addressing baseband market well integrating cellular connectivity new tegra line mobile chips deciding exit baseband market four years prior texas instruments continued planned exit mobile chip market opens new window ti discontinued omap applications processors kept ratcheting baseband businessti still making baseband prominent customers planned wind completely years end apple kicked 2013 new business cooperation patent agreement bcpa took effect first day year simply agreement intended part provide royalty relief bcpa also provision apple could instigate induce regulatory investigations although apple allowed cooperate approached words apple didnt even wait full month following bcpas expiration file suit ericsson stmicroelectronics decided dissolve stericsson joint venture ericsson taking baseband modem products would exit soon broadcomagreedin september acquire 4g lte assets japanbased renesas 164 million chinas national development reform commission ndrc began antimonopoly investigation november broadcom announced june would formally exit opens new windowthe baseband market would attempt sell baseband assets company expected save 700 million annual operating expenses result ceo scott mcgregor would later saythat broadcom losing 2 millionper dayby trying compete baseband market initial 2500 estimated layoffs mcgregor said 500 employees able find positions broadcom 2000 workers let go wonder companies kept exiting baseband modem market image source intel investor meeting 2014 us federal trade commission european commission opened investigations commencing september october respectively apple attempted yet negotiate direct license knowing several agreements would expire less two years unsuccessful roughly year half stericssons dissolution ericsson also bailed basebands cutting 1000 jobs process february qualcomm settled chinas ndrc negotiated rectification plan company paid 975 million fine full agreed modify business practices middle kingdom qualcomm began charging royalty rates 5 3g cdma wcdma devices including multimode devices use 3g 4g 4g devices use cdma fetch 35 cases percentage levied royalty base 65 devices net selling price qualcomm offered terms apple apple rejected believing offer consistent frand four years acquiring iceras baseband assets nvidia announced may would wind icera baseband operations conceding defeat qualcomm marvell announced significant restructuring mobile platform also bailing mobile chips opens new window like basebands applications processors annualized operating expense savings estimated 170 million 220 million marvell laid 17 employees european commission sentqualcomm two formal statements objection december based preliminary conclusions company may illegally paid major customer exclusively using chipsets sold chipsets cost aim forcing competitor market well know major customer although apple wasnt named time apple approached qualcomm february looking direct license discussions qualcomm disagreed patents may may fact essential company removed public list patents website qualcomms exclusivity apples baseband supplier ended spring kftc requested information apple apple testified kftc august less month later qualcomm retaliated withholding quarterly q2 rebate payment outlined bcpa apple earned june 30 wasnt due paid september qualcomm hasnt paid subsequent two quarterly payments either 1 billion apple seeking comprises three quarterly payments less brings us speed qualcomm extracted exclusivity apple key factor pushing rivals apple far largest purchaser standalone modems missing business utterly fatal rivals baseband ambitions apples words apple supplier history able wield power cupertino company key differentiator qualcomms massive patent portfolio combined willingness disregard industry norms well frand licensing commitments perhaps importantly apple going forward probably never another supplier much power ever 10 stocks like better apple 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 apple wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns january 4 2017 evan niu cfa opens new window owns shares apple motley fool owns shares recommends apple nvidia qualcomm motley fool following options long january 2018 90 calls apple short january 2018 95 calls apple motley fool recommends intel verizon communications motley fool disclosure policy opens new window | 1,077 |
<p>( <a href="https://www.intellihub.com/las-vegas-massacre-survivor-dies-abruptly-after-posting-eyewitness-account/" type="external">INTELLIHUB</a>) — A woman by the name&#160;Kymberley Suchomel, 28, who attended the Oct. 1 Route 91 Harvest Music Festival, passed away Monday at her Apple Valley home just days after she had survived the deadliest mass shooting in modern U.S. history unscathed, reports say.</p>
<p>Suchomel, who posted her eyewitness account of the Las Vegas massacre in astonishingly vivid detail to her Facebook page on Oct. 4, subsequently&#160; <a href="http://www.legacy.com/obituaries/name/kymberley-suchomel-obituary?pid=1000000186928523" type="external">passed away</a>&#160;in her home on Oct. 9 from what&#160; <a href="http://www.dispatch.com/zz/news/20171011/vegas-shooting-survivor-california-charity-co-founder-dies-suddenly" type="external">reports</a>&#160;are claiming were ‘natural causes.’</p>
<p>Shockingly just days before her death, Suchomel posted key details about the shooting to Facebook contradicting the official narrative that Stephen Paddock is a lone gunman.</p>
<p>“From about 50 feet in front of us, and a little to the right, fire crackers were set off. Let me repeat that… FIRE CRACKERS WERE SET OFF. I verbally stated “some asshole just shot of fire crackers in close proximity to so many people”. I was literally pissed off. You could see Jason Aldean look to his left kind of startled by it, but he was also clearly irritated. I would say about 15 seconds later, the first volley of gunfire was released,” the eyewitness wrote.</p>
<p>She went on…</p>
<p>It was a shorter volley than any of the others, and the gunfire was not as close together either. EVERYONE looked up, down, around. We thought it was more fire crackers at first, but then Ricky reached over, told us all to put our boots on, quickly. And the volley ended. Then people started to panic. The gentlemen behind me looked at me as I was putting on my boots, half laying down, and said “calm down crazy, its just fireworks, jeez”. That is when the 2nd volley went off, Ricky yelled at us all to get down, flat, &amp; we immediately knew there was someone shooting at us. I remember getting down, but I didn’t lay flat for some reason, thinking- oh my gosh, I need to get flatter than I am now, but my body just wouldn’t let me. That was the 2nd volley. At the end of that volley ( I am still struggling to get my boots on), we turned and tried to run, but the people behind us still weren’t moving. I yelled at the lady “RUN! ITS GUNFIRE! RUUUUUUUUUNNNNN!!!”</p>
<p>According to Suchomel, the shooting was ‘close’ and felt like a ‘literal hell.’</p>
<p>“[When] the 3rd volley hit… and it was close. Very, very close to us. I could physically see the impact of the bullets on the astro-turf, I could feel the warmth &amp; the passing of bullets. Once that 3rd volley was over, Casie linked her arm into mine, and we decided at that moment we weren’t stopping- we were getting the Hell out of there. And I do mean Hell. We were in literal Hell. The gentlemen that mocked me stating it was just fireworks fell to the ground, and he never got back up. The lady behind me (who was now in front of me) who was terrified as I told her to run, never got back up. I actually had to physically step over her body to run (something I am still struggling with, so please don’t attack me. I was absolutely in flight-or-fight mode). There was another person to my right who also wasn’t moving. We ran. I don’t know what direction we ran, I don’t know towards which landmark we ran. We just ran. It was at this time our group got split up. Casie &amp; I were together. Ricky, Cassie &amp; Mendy were together.”</p>
<p>Soon after, according to her account, she started to panic when she had realized with ‘one-hundred percent’ certainty that there was indeed more than one shooter and that multiple gunmen were, in fact, in the crowd!</p>
<p>“We were rounding some sort of corner maybe- and I looked to the right and I saw this large cowboy sitting down with his legs spread, holding a blood-soaked woman. I thought to myself “we NEED to hide”, but as I looked quickly for somewhere to go, the gunfire once again got closer and closer. We couldn’t hide because they (and I do mean THEY) were chasing us. That exact moment is when I started to really panic. That is the exact moment in which I thought this was it, I was going to die, I was never going to see my family again. So, as we are running, we approach this fence where men are throwing women over, and we ran up to it as they had knocked It down, so we were able to get out. As we crossed the threshold of the venue, my mind went straight to other mass shootings and hearing the victim’s families in my head talk about how they never got to say goodbye. I did not want this for my husband (who was at work) &amp; my grandma (who had my daughter, Scarlett). So, at&#160;10:07 pm I called my husband [frantically] leaving him a voicemail- telling him that I loved him and was in the middle of a shooting &amp; I wasn’t sure if I would make it out alive,”&#160;she explained.</p>
<p>“Next, while still running, I called my grandma to tell her the exact same thing. But the gunfire wasn’t stopping this whole time. It wasn’t ceasing. It wasn’t slowing down. And It was directly behind us, following us. Bullets were coming from every direction. Behind us, in front of us, to the side of us. But I know, I just know, that there was someone chasing us. The entire time I felt this way,” she explained “The farther we got from the venue, the closer the gunfire got. I kept looking back expecting to see the gunmen- and I&#160;say MEN because there was more than one person. There was more than one gun firing. 100% more than one.”</p>
<p>“As we were running, we kept changing direction, because it felt like no matter what direction we took, we were being followed. So we ended up running in a weird triangular path. The first place I remember getting to was a parking lot, and I told Casie (who was slightly in front of me) we needed to get under one of the trucks. She turned to me and started her way back to me, and that is when the gunfire got even CLOSER than ever before. It was RIGHT THERE. It was within the parking lot,” the eyewitness explained. “Everyone around us was panicking once again. So we ditched the idea of getting underneath a vehicle, and we continued the run for our lives. If you know me, you know I am a big girl, who is out of shape, and who definitely does not run for any reason. But I can tell you I ran like I have never run before.”</p>
<p>She continued on with her post, writing:</p>
<p>The 2nd place I remember going by was Hooters- which is where we met back up with the rest of our small group. We ran towards the entrance thinking we could take cover there, but as we got closer, a stampede of people ran out, terrified. We could only conclude that there was another gunman inside of that hotel. This made us even more scared- we had nowhere to go- no one to trust. At some point, we ended up at the airport &amp; even entered the building for safety. Everyone as we entered were screaming at the staff “IS IT SAFE IN HERE?” but we weren’t getting anyone to answer us, so after running about 30 feet into the building, not getting the answers we so desperately needed, we decided it, too, wasn’t a safe spot, so we got out of there quickly and continued running.</p>
<p>After all this running, we were tired, sore &amp; having to stop to cough, gag and even vomit. We ran across an intersection &amp; us &amp; another group of people pleaded with a limo driver to let us in and get us out of there. He was clearly confused &amp; didn’t understand what was going on, so he didn’t let us in. Next, we ran to a taxi van &amp; she was willing to let us in, but she told us her van only held 4 people &amp; she wasn’t going to let the 5 of us in, so we said screw it and continued running. At one point, we ran passed a small liquor store where they so graciously gave us water bottles. We passed UNLV as well.</p>
<p>Additionally, the eyewitness reported that she was running with her group alongside “Tropicana Avenue” &#160;when a ‘dark-colored SUV’ slowed and a ‘smaller Hispanic woman’ emerged from the window to “taunt” her group.</p>
<p>“[She] leans out the window, and she yells something we couldn’t understand in a clearly taunting manner. It really freaked us out, because again, we didn’t know who we could and could not trust,” the eyewitness explained.</p>
<p>Could this ‘smaller Hispanic woman’ have been&#160; <a href="https://www.intellihub.com/three-suspects-potentially-involved-in-mandalay-bay-shooting-on-the-las-vegas-strip-maybe-more/" type="external">the same ‘short Hispanic lady’ reported by another eyewitness</a>&#160;to have threatened concertgoers 30-45 minutes before the shooting started?</p>
<p>Eight days later Suchomel was found dead in bed by her grandmother who arrived at Schomer’s residence at 8:30 a.m.</p>
<p>According to an Oct. 9 report confirming Suchomel’s death, Suchomel “was taking medication for a pituitary tumor and feared to fall asleep at night after being heavily traumatized by the Oct. 1 massacre.</p>
<p>Suchomel’s death may be the reason that&#160; <a href="https://www.intellihub.com/did-the-wounded-mandalay-bay-security-guard-witness-other-suspect-suspects-make-their-escape-the-32nd-floor/" type="external">Mandalay Bay security guard Jesus Campos is receiving 24/7 high-profile security protection</a>.</p>
<p>Update: After the time of this article’s publishing Suchomel’s post is “no longer available.”</p>
<p>Please share this article with everyone you know.</p>
<p />
<p /> | true | 0 | intellihub woman name160kymberley suchomel 28 attended oct 1 route 91 harvest music festival passed away monday apple valley home days survived deadliest mass shooting modern us history unscathed reports say suchomel posted eyewitness account las vegas massacre astonishingly vivid detail facebook page oct 4 subsequently160 passed away160in home oct 9 what160 reports160are claiming natural causes shockingly days death suchomel posted key details shooting facebook contradicting official narrative stephen paddock lone gunman 50 feet front us little right fire crackers set let repeat fire crackers set verbally stated asshole shot fire crackers close proximity many people literally pissed could see jason aldean look left kind startled also clearly irritated would say 15 seconds later first volley gunfire released eyewitness wrote went shorter volley others gunfire close together either everyone looked around thought fire crackers first ricky reached told us put boots quickly volley ended people started panic gentlemen behind looked putting boots half laying said calm crazy fireworks jeez 2nd volley went ricky yelled us get flat amp immediately knew someone shooting us remember getting didnt lay flat reason thinking oh gosh need get flatter body wouldnt let 2nd volley end volley still struggling get boots turned tried run people behind us still werent moving yelled lady run gunfire ruuuuuuuuunnnnn according suchomel shooting close felt like literal hell 3rd volley hit close close us could physically see impact bullets astroturf could feel warmth amp passing bullets 3rd volley casie linked arm mine decided moment werent stopping getting hell mean hell literal hell gentlemen mocked stating fireworks fell ground never got back lady behind front terrified told run never got back actually physically step body run something still struggling please dont attack absolutely flightorfight mode another person right also wasnt moving ran dont know direction ran dont know towards landmark ran ran time group got split casie amp together ricky cassie amp mendy together soon according account started panic realized onehundred percent certainty indeed one shooter multiple gunmen fact crowd rounding sort corner maybe looked right saw large cowboy sitting legs spread holding bloodsoaked woman thought need hide looked quickly somewhere go gunfire got closer closer couldnt hide mean chasing us exact moment started really panic exact moment thought going die never going see family running approach fence men throwing women ran knocked able get crossed threshold venue mind went straight mass shootings hearing victims families head talk never got say goodbye want husband work amp grandma daughter scarlett at1601007 pm called husband frantically leaving voicemail telling loved middle shooting amp wasnt sure would make alive160she explained next still running called grandma tell exact thing gunfire wasnt stopping whole time wasnt ceasing wasnt slowing directly behind us following us bullets coming every direction behind us front us side us know know someone chasing us entire time felt way explained farther got venue closer gunfire got kept looking back expecting see gunmen i160say men one person one gun firing 100 one running kept changing direction felt like matter direction took followed ended running weird triangular path first place remember getting parking lot told casie slightly front needed get one trucks turned started way back gunfire got even closer ever right within parking lot eyewitness explained everyone around us panicking ditched idea getting underneath vehicle continued run lives know know big girl shape definitely run reason tell ran like never run continued post writing 2nd place remember going hooters met back rest small group ran towards entrance thinking could take cover got closer stampede people ran terrified could conclude another gunman inside hotel made us even scared nowhere go one trust point ended airport amp even entered building safety everyone entered screaming staff safe werent getting anyone answer us running 30 feet building getting answers desperately needed decided wasnt safe spot got quickly continued running running tired sore amp stop cough gag even vomit ran across intersection amp us amp another group people pleaded limo driver let us get us clearly confused amp didnt understand going didnt let us next ran taxi van amp willing let us told us van held 4 people amp wasnt going let 5 us said screw continued running one point ran passed small liquor store graciously gave us water bottles passed unlv well additionally eyewitness reported running group alongside tropicana avenue 160when darkcolored suv slowed smaller hispanic woman emerged window taunt group leans window yells something couldnt understand clearly taunting manner really freaked us didnt know could could trust eyewitness explained could smaller hispanic woman been160 short hispanic lady reported another eyewitness160to threatened concertgoers 3045 minutes shooting started eight days later suchomel found dead bed grandmother arrived schomers residence 830 according oct 9 report confirming suchomels death suchomel taking medication pituitary tumor feared fall asleep night heavily traumatized oct 1 massacre suchomels death may reason that160 mandalay bay security guard jesus campos receiving 247 highprofile security protection update time articles publishing suchomels post longer available please share article everyone know | 821 |
<p />
<p>Shares of GoPro (NASDAQ: GPRO) and Ambarella (NASDAQ: AMBA) have frequently risen and fallen in tandem over the past two years. That's because GoPro, Ambarella's top customer, uses the chipmaker's image processing SoCs (system on chips) in its popular action cameras.Pacific Crest estimates thatorders from GoPro could account for up to 25% of Ambarella's revenue this year.</p>
<p>Continue Reading Below</p>
<p>Image source: GoPro.</p>
<p>GoPro surged from its IPO price of $24 to $87 in late 2014, thanks to robust sales of its Hero 4 cameras. However, concerns about market saturation, slowing camera sales, and the stock's lofty valuations knocked the stock down to just over $9 earlier this year. The stock recently rebounded on optimism regarding its new Karma drone and Hero 5 camera, but remains roughly 30% below its IPO price.</p>
<p>Ambarella's stock hit an all-time high of $124 last July before dropping to the mid-$30s this May. The stock also rebounded to the $70s earlier this year on rosier expectations for GoPro's new products, as well as growth opportunities in adjacent markets like drones, connected cars, and security cameras. The success of both stocks depends heavily on the upcoming holiday quarter, but will one fare better than the other? Let's discuss their growth, headwinds, and valuations to find out.</p>
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<p>GoPro's sales have fallen annually for four consecutive quarters. Analysts expect another decline in the third quarter before growth finally returns in the fourth quarter on strong sales of the Hero 5 and Karma. Analysts expect GoPro's sales to rise 55% annually to$677.2 million that quarter, eclipsing the $633.9 million in Hero 4-fueled revenue in the fourth quarter of 2014.</p>
<p>This could be averytough target to hit because the action camera market is much more crowded today than it was in 2014. Furthermore, there's no guarantee that GoPro can beat drone leader DJI Innovations, which recently launched the Mavic Pro, another foldable drone that is smaller andmore powerful than the Karma. Even if GoPro matches analyst targets for the fourth quarter, its 2016 sales would still represent a 14% decline from 2015 -- compared to its 16% growth in 2015 and 41% growth in2014.</p>
<p>Image source: GoPro.</p>
<p>Ambarella's revenue has declined annually for two straight quarters, butanalysts expect sales to improve 5% in the third quarter and 35% in the fourth quarter. That's because Ambarella also provides chipsets for many of GoPro's rivals, like Xiaomi-backed Yi Technology. It also supplies chipsets to DJI and other leading drone makers, so its future growth isn't heavily dependent on GoPro's Karma. Moreover, demand for Ambarella's non-action camera chipsets is still expected to rise. But despite those encouraging signs, Ambarella's revenue is still expected to fall 2% this year, compared to 45% growth in fiscal 2016.</p>
<p>Ambarella also faces some tough headwinds. Qualcomm (NASDAQ: QCOM), the biggest mobile chipmaker in the world, is aggressively expanding into the action camera, drone, and connected camera markets with 4G-connected chipsets. Ambarella also reportedly faces tough pricing pressure from Chinese chipmakers inthe automotive SoC segment.</p>
<p>Therefore, it isn't surprising that GoPro and Ambarella's margins are under pressure. GoPro's non-GAAP gross margin fell 400 basis points annually to 42.4% last quarter. It posted a non-GAAP operating loss of $89.3 million, compared to an operating profit of $65.8 million in the prior-year quarter. Ambarella's non-GAAP gross margin rose 180 basis points annually to 67.1% last quarter, but its operating margin fell from 29.6% to 14.2% due to weaker sales weighed down by heavier spending.</p>
<p>GoPro expects its fourth-quarter sales to boost it back to quarterly profitability. Analysts anticipate non-GAAP earnings of $0.46 per share, which would be a huge improvement over its loss of $0.08 in the prior-year quarter. But for the full year, GoPro is still expected to report a loss of $1.07 per share, compared to its profit of $0.76 per share in 2015.</p>
<p>Looking ahead, Wall Street expects GoPro's annual earnings to continue falling at an average rate of 7% per year over the next five years, which gives it a five-year PEG ratio of 2.1. Since a PEG ratio under 1 is considered cheap, GoPro looks expensive relative to its earnings growth potential.</p>
<p>Analysts expect Ambarella's earnings to decline 13% earnings in the third quarter, followed by 27% growth in the fourth quarter on strong holiday sales of action cameras and drones. For the full year, Ambarella's earnings are still expected to fall 20% on higher expenses. On the bright side, analysts expect Ambarella's earnings to rise 16% per year over the next five years, which gives it a lower (albeit not terribly cheap) five-year PEG ratio of 1.6.</p>
<p>I personally don't like either stock due to the tough headwinds in the action camera market, but Ambarella looks like a better buy than GoPro right now. It has a more diversified business, stronger margins, and lower valuations. GoPro, on the other hand, must post record sales this holiday season. If it can't, the stock could go much lower next year.</p>
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<p>Shares of global technology companies are outpacing other sectors this year by the widest margin since the height of the dot-com era, with a handful of key players dictating how markets are performing around the world.</p>
<p>That dynamic was on display again Tuesday, when the Nasdaq Composite rose 1.06% to end at its 67th record close in 2017, the highest number of record closes in any year.</p>
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<p>Shares of Apple Inc. rose 1.9%, while International Business Machines Corp. added 1%. Microsoft Corp. was also up 1.4%, putting the three tech giants among the biggest contributors to the Dow industrials' gains on Tuesday.</p>
<p>Tech gains boosted the broader market. The S&amp;P 500 and Dow Jones Industrial Average also closed at record highs, rebounding after a rare down stretch during the previous two weeks. Blue-chip stock indexes in Europe and Asia closed higher.</p>
<p>In a sign that the tech rally is going global, Chinese internet company Tencent Holdings Ltd. rose 2.4% after intraday gains briefly put the company's market capitalization at around $530 billion, larger than Facebook's $528 billion. Tencent hit $500 billion for the first time Monday.</p>
<p>Just eight companies -- Facebook Inc., Apple, Amazon.com Inc., Netflix Inc., Alphabet Inc., Baidu Inc., Alibaba Group Holding and Tencent -- have increased by $1.4 trillion in market cap in 2017, a sum roughly equivalent to the combined annual GDP of Spain and Portugal.</p>
<p>Tech giants' powerful user networks, large cash piles and access to consumer data have led many investors to expect the big will only get bigger.</p>
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<p>"You need critical mass to support continuing innovation," said Christopher Dyer, director of global equity at Eaton Vance. While there are exceptions, "China and the U.S. would be natural destinations for incremental dollar investment within tech," he said.</p>
<p>While technology companies have helped take U.S. and some Asian stock markets to record highs, less tech-heavy bourses of Europe, Canada and Australia haven't enjoyed the same success.</p>
<p>For MSCI Europe, roughly 85% of its underperformance relative to world stocks can be attributed to differences in the weight and performance of their technology sectors, according to Morgan Stanley.</p>
<p>"There's no doubt the markets that have high tech components will have been the best performers this year," said Paul Markham, a global equities portfolio manager at Newton Investment Management, who has invested in many of the tech behemoths. "The narrow nature of this rally has to be seen as something of a concern...but these are cash-generative companies who are being seen as the bedrock of the new economy."</p>
<p>Global tech stocks are up 42% this year, roughly double the gains of the broad-based MSCI AC World Index. So far in 2017, the tech sector is up 21 percentage points more than the next best sector, materials -- leading by the widest margin of any sector since 1999, according to analysis by Morgan Stanley.</p>
<p>The sector's dominance could make leading markets vulnerable should investors' enthusiasm fade for tech or regulation hamper development of these companies, some analysts say.</p>
<p>But most don't see that happening soon as the giants of this space continue to deliver on earnings, meaning tech could continue to be the differentiator among global markets in the years to come.</p>
<p>Samsung Electronics, Tencent and Alibaba and Taiwan Semiconductor Manufacturing Co. make up a combined 17% of the MSCI Emerging Market Index, even more influential than Facebook, Apple, Netflix, Amazon and Alphabet, which make up around 11% of the S&amp;P 500, according to S&amp;P Dow Jones Indices.</p>
<p>MSCI Europe has a less than 5% weighting to technology companies, compared with a 25% weight in MSCI USA and a 17% weight in MSCI World.</p>
<p>Tech isn't the only factor behind this year's global rally. A synchronized pickup in growth has buoyed earnings around the world, and a continued hunt for yield has left few alternatives to stocks. There are also risks for this year's winning sector, including the prospect of greater regulation or investors simply rotating out of areas that have already climbed a long way.</p>
<p>But some analysts dismiss comparisons with the dot-com boom. Tech valuations in the U.S. are just a fraction of where they were during that era. In early 2000, the S&amp;P 500 tech sector traded at a forward price-to-earnings ratio of 52, according to FactSet. Today, that PE is 19, compared with 18 for the S&amp;P 500 as a whole.</p>
<p>In the third quarter of this year, S&amp;P 500 technology companies beat expectations by the widest margin of any sector, with an earnings growth rate of 21% -- nearly double the next best performer outside the energy sector.</p>
<p>Many market participants think this rally still has legs, pushing record weekly inflows into tech earlier this month, with U.S. and Chinese tech funds gaining particular traction, according to fund-tracker EPFR Global.</p>
<p>"In 1999 [tech companies] were incredibly expensive and didn't yet have a lot of earnings, " said Mark Phelps, an equities chief at AllianceBernstein. But today, not only are their earnings keeping up, "they've got more data, more processing power, and they're giving the consumer a really good product," he said.</p>
<p>Write to Riva Gold at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>November 21, 2017 18:18 ET (23:18 GMT)</p> | true | 0 | shares global technology companies outpacing sectors year widest margin since height dotcom era handful key players dictating markets performing around world dynamic display tuesday nasdaq composite rose 106 end 67th record close 2017 highest number record closes year continue reading shares apple inc rose 19 international business machines corp added 1 microsoft corp also 14 putting three tech giants among biggest contributors dow industrials gains tuesday tech gains boosted broader market sampp 500 dow jones industrial average also closed record highs rebounding rare stretch previous two weeks bluechip stock indexes europe asia closed higher sign tech rally going global chinese internet company tencent holdings ltd rose 24 intraday gains briefly put companys market capitalization around 530 billion larger facebooks 528 billion tencent hit 500 billion first time monday eight companies facebook inc apple amazoncom inc netflix inc alphabet inc baidu inc alibaba group holding tencent increased 14 trillion market cap 2017 sum roughly equivalent combined annual gdp spain portugal tech giants powerful user networks large cash piles access consumer data led many investors expect big get bigger advertisement need critical mass support continuing innovation said christopher dyer director global equity eaton vance exceptions china us would natural destinations incremental dollar investment within tech said technology companies helped take us asian stock markets record highs less techheavy bourses europe canada australia havent enjoyed success msci europe roughly 85 underperformance relative world stocks attributed differences weight performance technology sectors according morgan stanley theres doubt markets high tech components best performers year said paul markham global equities portfolio manager newton investment management invested many tech behemoths narrow nature rally seen something concernbut cashgenerative companies seen bedrock new economy global tech stocks 42 year roughly double gains broadbased msci ac world index far 2017 tech sector 21 percentage points next best sector materials leading widest margin sector since 1999 according analysis morgan stanley sectors dominance could make leading markets vulnerable investors enthusiasm fade tech regulation hamper development companies analysts say dont see happening soon giants space continue deliver earnings meaning tech could continue differentiator among global markets years come samsung electronics tencent alibaba taiwan semiconductor manufacturing co make combined 17 msci emerging market index even influential facebook apple netflix amazon alphabet make around 11 sampp 500 according sampp dow jones indices msci europe less 5 weighting technology companies compared 25 weight msci usa 17 weight msci world tech isnt factor behind years global rally synchronized pickup growth buoyed earnings around world continued hunt yield left alternatives stocks also risks years winning sector including prospect greater regulation investors simply rotating areas already climbed long way analysts dismiss comparisons dotcom boom tech valuations us fraction era early 2000 sampp 500 tech sector traded forward pricetoearnings ratio 52 according factset today pe 19 compared 18 sampp 500 whole third quarter year sampp 500 technology companies beat expectations widest margin sector earnings growth rate 21 nearly double next best performer outside energy sector many market participants think rally still legs pushing record weekly inflows tech earlier month us chinese tech funds gaining particular traction according fundtracker epfr global 1999 tech companies incredibly expensive didnt yet lot earnings said mark phelps equities chief alliancebernstein today earnings keeping theyve got data processing power theyre giving consumer really good product said write riva gold rivagoldwsjcom end dow jones newswires november 21 2017 1818 et 2318 gmt | 555 |
<p>All three network morning shows on Tuesday noted how President Obama agreed to meet with Governor Rick Perry to discuss the illegal immigration crisis, all labeling the Texas Republican to be the "harshest" and "strongest" "big critic" of the commander-in-chief's mishandling of the chaos on the border. The only problem was that none of the broadcasts featured a single second of Perry actually voicing that criticism. [Listen to <a href="http://newsbusters.org/sites/default/files/2013/2014-07-08-Nets-PerryObama.mp3" type="external">the audio</a>] On ABC's Good Morning America, White House correspondent Jon Karl summarized Perry's recent condemnation of Obama's lack of action on the issue: "Perry has been one of the harshest critics here. On This Week he said he doesn't believe the President really cares whether or not the border is secure." Co-host George Stephanopoulos chimed in: "Yeah, he suggested there might even be a conspiracy to have more kids come over."</p>
<p />
<p>Rather than simply play an accurate clip of what Perry actually said on their network's own Sunday show, Karl and Stephanopoulos were content to portray him as some kind of conspiracy theorist. On CBS This Morning, White House correspondent Bill Plante proclaimed: "Perry, who could be a Republican presidential candidate, has been one of the President's strongest critics on immigration." Again, there was no clip of Perry speaking, but Plante did find time to scold the Governor for rejecting a brief frivolous photo-op initially offered by Obama: "The White House reached out to Perry after he turned down an airport greeting, even though Perry has come to the airport in the past when the President has come to Texas." On NBC's Today, correspondent Peter Alexander declared: "One big critic, the Republican governor there, Rick Perry, has turned down an invitation to meet with the President at the airport, saying that basically wouldn't give them enough time to discuss the growing crisis." No soundbite from Perry was included, but Alexander did refrain from taking any jabs at the GOP politician, simply concluding: "Overnight the White House wrote Perry a letter saying that Obama would welcome a visit with Perry to speak about the border." While there was no room for Perry's statements, CBS and NBC did find time to feature clips of left-wing activists supporting illegal immigration. In a report from correspondent Miguel Almaguer on Today, Casa De Virginia executive director Gustavo Torres hit Obama from the left: "The President has failed to act with urgency and competency that is required to ensure these children as well as all immigrants are treated humanely." On This Morning, correspondent Ben Tracy teed up another illegal immigration advocate to slam those calling for the deportation of those streaming across the border:</p>
<p>TRACY: Jordan Carroll came to Murrieta to support these children she views as refugees. What did you think about the scenes you saw here last week? JORDAN CARROLL: It was so disturbing, it made me sick. The people, as you see over there, telling these kids to go home. Screaming at them. Like mortifying these already terrorized children. Who are we to do that?</p>
<p>Tracy wrapped up his report by trying to bolster Carroll's argument: "Meanwhile, the United Nations is pushing for them to be treated as refugees."</p>
<p>Here are transcripts of the July 8 network morning show coverage of Obama agreeing to meet with Perry:</p>
<p>Good Morning America 7:06 AM ET GEORGE STEPHANOPOULOS: We turn now to President Obama and that growing humanitarian crisis on our southern border. The President heading to Texas this week and sending Congress a request for more than $2 billion in emergency funding to deal with the flood of children from Central America crossing into the United States. ABC's Jon Karl covering that from the White House. And Jon, the President is taking heat from all sides on this issue. [ON-SCREEN HEADLINE: Obama to Act on Border Crisis; Will Ask for $2 Billion in Emergency Funds]</p>
<p />
<p>JON KARL: Oh, he sure is, George. And he's just announced – the White House has just announced that the President is offering to meet with Governor Perry while he was in Texas because one of the strongest lines of criticism here is the President is going to Texas for political fundraisers but is not going to be visiting the border. Perry had asked for a meeting, now he's going to get his meeting. But Perry has been one of the harshest critics here. On This Week he said he doesn't believe the President really cares whether or not the border is secure. STEPHANOPOULOS: Yeah, he suggested there might even be a conspiracy to have more kids come over. Meantime, the President is holding off on asking Congress for new power to send those kids back more quickly. KARL: That's right, the White House says that request will come, but this is going to be about money. And George, I am told that this is going to be a request for well over $2 billion. The White House saying it will be to beef up security and also to increase those legal proceedings to deport many of these children. Yesterday the White House said that most of the people that go through – most of the kids that go through these proceedings will be deported back to their home countries. STEPHANOPOULOS: That's right, but right now, only a tiny fraction of the kids have been sent back. Jon Karl, thanks very much. CBS This Morning 8:02 AM ET</p>
<p />
<p>NORAH O'DONNELL: And the White House confirms this morning that President Obama will talk immigration with the Governor of Texas tomorrow. Bill Plante is at the White House with details on the meeting set up after Rick Perry said no to a photo-op. Bill, good morning. [ON-SCREEN HEADLINE: Border Crisis; Obama to Meet With Texas Gov. After Photo-Op Snub] BILL PLANTE: Good morning. Well, Perry, who could be a Republican presidential candidate, has been one of the President's strongest critics on immigration. The White House reached out to Perry after he turned down an airport greeting, even though Perry has come to the airport in the past when the President has come to Texas. The administration will send a big request to Congress today, almost $3 billion to deal with the thousands of migrant children from Central America. The White House insists that most of them will be returned, but it's also trying to arrange temporary shelters, including one in Dallas. White House officials say the President will not go to the valley – to the border while he's in Texas. Although he will reach out tomorrow at a roundtable in Dallas to discuss the issue. The whole thing has become a huge political problem for the administration. Gayle. GAYLE KING: Thank you, Bill. &#160; Today 7:01 AM ET GUTHRIE: We'll get right to our top story this morning. And it is that crisis at the border. A flood of immigrants flooding in by the day, the President's push for big money from Congress today, and the controversy over his decision not to visit the border when he's in Texas this week. NBC's national correspondent Peter Alexander has all the headlines from the White House this morning. Peter, good morning to you. [ON-SCREEN HEADLINE: President's $2 Billion Push; To Ask Congress for Immigration Emergency Aid] PETER ALEXANDER: Savannah, good morning. That request will be sent today. And specifically I'm told that President Obama's going to ask Congress for significantly more than $2 billion to deal with that flood of unaccompanied children who are pouring across the border. The money is designed to help cover the cost of additional resources, things like immigration judges and government lawyers. At least for now the President is not calling on Congress for any specific legal changes to deport those kids more quickly.</p>
<p />
<p>Late today, President Obama, as you noted, leaves for a two-state fundraising tour. He arrives in Texas tomorrow, but the White House insists that Mr. Obama has no plans to visit the border. One big critic, the Republican governor there, Rick Perry, has turned down an invitation to meet with the President at the airport, saying that basically wouldn't give them enough time to discuss the growing crisis. But Savannah, overnight the White House wrote Perry a letter saying that Obama would welcome a visit with Perry to speak about the border. GUTHRIE: Alright, Peter Alexander at the White House. I know you're keeping an eye on it, thank you.</p>
<p>— Kyle Drennen is Senior News Analyst at the Media Research Center. <a href="http://www.twitter.com/kjdrennen" type="external">Follow Kyle Drennen on Twitter.</a></p> | true | 0 | three network morning shows tuesday noted president obama agreed meet governor rick perry discuss illegal immigration crisis labeling texas republican harshest strongest big critic commanderinchiefs mishandling chaos border problem none broadcasts featured single second perry actually voicing criticism listen audio abcs good morning america white house correspondent jon karl summarized perrys recent condemnation obamas lack action issue perry one harshest critics week said doesnt believe president really cares whether border secure cohost george stephanopoulos chimed yeah suggested might even conspiracy kids come rather simply play accurate clip perry actually said networks sunday show karl stephanopoulos content portray kind conspiracy theorist cbs morning white house correspondent bill plante proclaimed perry could republican presidential candidate one presidents strongest critics immigration clip perry speaking plante find time scold governor rejecting brief frivolous photoop initially offered obama white house reached perry turned airport greeting even though perry come airport past president come texas nbcs today correspondent peter alexander declared one big critic republican governor rick perry turned invitation meet president airport saying basically wouldnt give enough time discuss growing crisis soundbite perry included alexander refrain taking jabs gop politician simply concluding overnight white house wrote perry letter saying obama would welcome visit perry speak border room perrys statements cbs nbc find time feature clips leftwing activists supporting illegal immigration report correspondent miguel almaguer today casa de virginia executive director gustavo torres hit obama left president failed act urgency competency required ensure children well immigrants treated humanely morning correspondent ben tracy teed another illegal immigration advocate slam calling deportation streaming across border tracy jordan carroll came murrieta support children views refugees think scenes saw last week jordan carroll disturbing made sick people see telling kids go home screaming like mortifying already terrorized children tracy wrapped report trying bolster carrolls argument meanwhile united nations pushing treated refugees transcripts july 8 network morning show coverage obama agreeing meet perry good morning america 706 et george stephanopoulos turn president obama growing humanitarian crisis southern border president heading texas week sending congress request 2 billion emergency funding deal flood children central america crossing united states abcs jon karl covering white house jon president taking heat sides issue onscreen headline obama act border crisis ask 2 billion emergency funds jon karl oh sure george hes announced white house announced president offering meet governor perry texas one strongest lines criticism president going texas political fundraisers going visiting border perry asked meeting hes going get meeting perry one harshest critics week said doesnt believe president really cares whether border secure stephanopoulos yeah suggested might even conspiracy kids come meantime president holding asking congress new power send kids back quickly karl thats right white house says request come going money george told going request well 2 billion white house saying beef security also increase legal proceedings deport many children yesterday white house said people go kids go proceedings deported back home countries stephanopoulos thats right right tiny fraction kids sent back jon karl thanks much cbs morning 802 et norah odonnell white house confirms morning president obama talk immigration governor texas tomorrow bill plante white house details meeting set rick perry said photoop bill good morning onscreen headline border crisis obama meet texas gov photoop snub bill plante good morning well perry could republican presidential candidate one presidents strongest critics immigration white house reached perry turned airport greeting even though perry come airport past president come texas administration send big request congress today almost 3 billion deal thousands migrant children central america white house insists returned also trying arrange temporary shelters including one dallas white house officials say president go valley border hes texas although reach tomorrow roundtable dallas discuss issue whole thing become huge political problem administration gayle gayle king thank bill 160 today 701 et guthrie well get right top story morning crisis border flood immigrants flooding day presidents push big money congress today controversy decision visit border hes texas week nbcs national correspondent peter alexander headlines white house morning peter good morning onscreen headline presidents 2 billion push ask congress immigration emergency aid peter alexander savannah good morning request sent today specifically im told president obamas going ask congress significantly 2 billion deal flood unaccompanied children pouring across border money designed help cover cost additional resources things like immigration judges government lawyers least president calling congress specific legal changes deport kids quickly late today president obama noted leaves twostate fundraising tour arrives texas tomorrow white house insists mr obama plans visit border one big critic republican governor rick perry turned invitation meet president airport saying basically wouldnt give enough time discuss growing crisis savannah overnight white house wrote perry letter saying obama would welcome visit perry speak border guthrie alright peter alexander white house know youre keeping eye thank kyle drennen senior news analyst media research center follow kyle drennen twitter | 801 |
<p>Irene Rosenfeld is stepping down after 11 years as chief executive of Mondelez International Inc., as the snack giant faces pressure to improve sales and profitability amid an upheaval in the packaged food business.</p>
<p>Ms. Rosenfeld struggled for years to draw more profit from Mondelez' broad portfolio of traditional snacks like Oreos and Ritz crackers.</p>
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<p>"In hindsight I think perhaps we could have gone after the costs a little faster," Ms. Rosenfeld said on Wednesday. "My regret is that we haven't fully realized the potential on the top line."</p>
<p>Now that work will fall to an outsider, Dirk Van de Put, head of Canada's privately held McCain Foods Ltd., who will take over for Ms. Rosenfeld in November. Ms. Rosenfeld, 64 years old, will continue as chair of the Mondelez board until she retires in March.</p>
<p>Mr. Van de Put, who has also worked for Danone SA, Coca-Cola Co. and Mars Inc., will be moving from a $7.3 billion maker of french fries and other potato products to a $66 billion conglomerate whose disparate brands stretch from Triscuits to Trident gum.</p>
<p>"He is a seasoned global CEO," Ms. Rosenfeld said, citing his experience at food companies on three continents, in both emerging and developed markets. Mondelez board members have been searching for Ms. Rosenfeld's successor since at least the spring.</p>
<p>Ms. Rosenfeld's retirement will shrink an already small pool of female chief executives of the biggest U.S. businesses. As of June, women held 28 of the CEO spots at S&amp;P 500 companies, according to Catalyst, a research group, 5.6% of the total. Catalyst's tally reflects companies in that index as of January 2017. One woman cited among those 28 CEOs, Tegna Inc.'s Gracia Martore, retired in June. Her departure, and Ms. Rosenfeld's will decrease the total to 26.</p>
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<p>Ms. Rosenfeld led Mondelez through several transformations. In 2010, she orchestrated the acquisition of British chocolate company Cadbury PLC for $19 billion. Two years later, she spun off Kraft, Oscar Mayer and other brands and renamed the remaining company Mondelez.</p>
<p>But the more focused company struggled to grow its stable of legacy brands. "Throughout my tenure as CEO, the world and our industry have undergone a period of unprecedented change," Ms. Rosenfeld said.</p>
<p>Activist investors Nelson Peltz and William Ackman took big stakes in the company's stock and urged Mondelez to improve profit. Ms. Rosenfeld responded in part by cutting costs, closing or selling more than 40 factories. That helped boost the company's adjusted operating margin to 15.3% in 2016 from 12% in 2013. Mr. Peltz on Wednesday welcomed Mr. Van de Put's hiring and congratulated Ms. Rosenfeld on her efforts to improve profitability.</p>
<p>That work didn't entirely overcome broader headwinds facing food makers. Mondelez has faltered in volatile emerging markets and struggled to address consumer demands for fresher, healthier food.</p>
<p>Slowing sales have sparked consolidation and executive changes in the industry. Kraft in 2015 merged with H.J. Heinz Co. to form Kraft Heinz Co., which made a bid for Unilever PLC earlier this year. General Mills Inc., Hershey Co. and others have named new CEOs this year.</p>
<p>Mondelez sought to buy Hershey last year in a deal worth more than $25 billion. Ms. Rosenfeld walked away after Hershey rebuffed its advances.</p>
<p>In its second quarter, Mondelez delivered revenue of $5.9 billion and earnings of 48 cents a share. Analysts polled by Thomson Reuters expected 45 cents. Comparable sales in the quarter fell 2.7%, hurt by the impacts of a cyberattack. The company still expects to log 1% growth annually by that measure, with the help of new better-for-you food brands like Vea.</p>
<p>Shares in Mondelez, down 1.6% this year, rose 2.7% to $44.80 in premarket trading.</p>
<p>Joann S. Lublin contributed to this article</p>
<p>Write to Annie Gasparro at [email protected]</p>
<p>Irene Rosenfeld is stepping down after 11 years as chief executive of snack giant Mondelez International Inc., having fought to improve sales and profitability amid an upheaval in the packaged food business.</p>
<p>Investors pushed Ms. Rosenfeld for years to draw more profit from a broad portfolio of traditional snacks such as Oreos and Ritz crackers. Mondelez faltered in volatile emerging markets and struggled to address consumer demands for fresher, healthier food. Some of America's best-known food brands are losing shelf space to new, trendier products, sending them on a race to buy or create new products to keep up.</p>
<p>"In hindsight I think perhaps we could have gone after the costs a little faster," Ms. Rosenfeld said on Wednesday. "My regret is that we haven't fully realized the potential on the top line."</p>
<p>Now that work will fall to an outsider, Dirk Van de Put, head of Canada's privately held McCain Foods Ltd., who will take over for Ms. Rosenfeld in November. Ms. Rosenfeld, 64 years old, will continue as chair of the Mondelez board until she retires in March.</p>
<p>In an interview, Ms. Rosenfeld said she told Mondelez board members of her plans to retire about two years ago. "I didn't have a precise timeline, but I said that after about a decade is a good time to think about a transition," she said.</p>
<p>Mondelez board members have been searching for Ms. Rosenfeld's successor since at least the spring. Ms. Rosenfeld wanted to find the right person before she agreed to leave.</p>
<p>"Irene truly transformed this company in her 11 years," said Lois Juliber, an independent Mondelez director since 2007, in a text message.</p>
<p>Ms. Rosenfeld's retirement will shrink an already small pool of female chief executives of the biggest U.S. businesses. As of Wednesday, women held 27 of the CEO spots at S&amp;P 500 companies, according to research group Catalyst, 5.6% of the total. Catalyst's tally reflects companies in that index as of January 2017.</p>
<p>Mr. Van de Put has led McCain Foods for six years, increasing revenue and profitability even as the company's core product, french fries, fell out of favor with many health-conscious consumers. To address that shift, McCain introduced sweet-potato fries and low-fat varieties. He worked previously at Danone SA, Coca-Cola Co. and Mars Inc. Ms. Rosenfeld said he is ready for the jump from a $7.3 billion maker of potato products to a $66 billion conglomerate whose disparate brands stretch from Triscuits to Trident gum.</p>
<p>"There's a real value in a fresh pair of eyes," Ms. Rosenfeld said, citing Mr. Van de Put's experience at food companies on three continents. She said the board considered internal candidates to succeed her as well, but wouldn't name them.</p>
<p>Ms. Rosenfeld led Mondelez through several transformations. In 2010, she orchestrated the acquisition of British chocolate company Cadbury PLC for $19 billion. Two years later, she separated Kraft, Oscar Mayer and other brands and renamed the remaining company Mondelez.</p>
<p>But the more focused company struggled to grow its stable of legacy brands, particularly in the face of economic turmoil in key emerging markets including China and Venezuela. "The single biggest factor was the change in the macro environment," Ms. Rosenfeld said.</p>
<p>Activist investors Nelson Peltz and William Ackman took big stakes in the company in 2013 and 2015, respectively, and urged Mondelez to improve profit. Ms. Rosenfeld responded in part by cutting costs, closing or selling more than 40 factories. That helped boost the company's adjusted operating margin to 15.3% in 2016 from 12% in 2013.</p>
<p>Some investors say those changes fell short. "Anyone can close plants and reduce head count. Where was the innovation?" asked Dennis O'Connor, a longtime Mondelez investor in North Carolina who owns a few thousand shares.</p>
<p>Mondelez shares have risen 20% over the past three years, short of a 29% gain for the broader the S&amp;P 500. Shares closed roughly flat on Wednesday.</p>
<p>Mr. Peltz, a Mondelez board member, welcomed Mr. Van de Put's hiring on Wednesday and congratulated Ms. Rosenfeld on her efforts to improve profitability.</p>
<p>Aaron Brunette, an analyst at Santa Barbara Asset Management, a Mondelez shareholder, said he thinks Ms. Rosenfeld has made progress in recent years, setting the company up for strong revenue growth once external challenges subside.</p>
<p>Slowing sales have sparked consolidation and executive changes in the industry. Kraft in 2015 merged with H.J. Heinz Co. to form Kraft Heinz Co., which made a bid for Unilever PLC earlier this year. General Mills Inc., Hershey Co. and others have named new CEOs this year.</p>
<p>Mondelez sought to buy Hershey last year in a deal worth more than $25 billion. Ms. Rosenfeld walked away after Hershey rebuffed its advances.</p>
<p>Kraft Foods named a new chief executive a few months before its deal with Heinz, leading some analysts to question whether Ms. Rosenfeld's departure makes Mondelez a more likely acquisition target. By staying on the board, Ms. Rosenfeld could "remain a key player in the brokering of any deal before she steps down," said Bernstein analyst Alexia Howard.</p>
<p>In its second quarter, Mondelez delivered revenue of $5.9 billion and earnings of 48 cents a share. Analysts polled by Thomson Reuters expected 45 cents. Comparable sales in the quarter fell 2.7%, hurt by the impacts of a cyberattack. The company still expects 1% growth annually by that measure this year, with the help of new better-for-you food brands like Vea.</p>
<p>Joann S. Lublin contributed to this article</p>
<p>Write to Annie Gasparro at [email protected]</p>
<p>(END) Dow Jones Newswires</p>
<p>August 02, 2017 17:37 ET (21:37 GMT)</p> | true | 0 | irene rosenfeld stepping 11 years chief executive mondelez international inc snack giant faces pressure improve sales profitability amid upheaval packaged food business ms rosenfeld struggled years draw profit mondelez broad portfolio traditional snacks like oreos ritz crackers continue reading hindsight think perhaps could gone costs little faster ms rosenfeld said wednesday regret havent fully realized potential top line work fall outsider dirk van de put head canadas privately held mccain foods ltd take ms rosenfeld november ms rosenfeld 64 years old continue chair mondelez board retires march mr van de put also worked danone sa cocacola co mars inc moving 73 billion maker french fries potato products 66 billion conglomerate whose disparate brands stretch triscuits trident gum seasoned global ceo ms rosenfeld said citing experience food companies three continents emerging developed markets mondelez board members searching ms rosenfelds successor since least spring ms rosenfelds retirement shrink already small pool female chief executives biggest us businesses june women held 28 ceo spots sampp 500 companies according catalyst research group 56 total catalysts tally reflects companies index january 2017 one woman cited among 28 ceos tegna incs gracia martore retired june departure ms rosenfelds decrease total 26 advertisement ms rosenfeld led mondelez several transformations 2010 orchestrated acquisition british chocolate company cadbury plc 19 billion two years later spun kraft oscar mayer brands renamed remaining company mondelez focused company struggled grow stable legacy brands throughout tenure ceo world industry undergone period unprecedented change ms rosenfeld said activist investors nelson peltz william ackman took big stakes companys stock urged mondelez improve profit ms rosenfeld responded part cutting costs closing selling 40 factories helped boost companys adjusted operating margin 153 2016 12 2013 mr peltz wednesday welcomed mr van de puts hiring congratulated ms rosenfeld efforts improve profitability work didnt entirely overcome broader headwinds facing food makers mondelez faltered volatile emerging markets struggled address consumer demands fresher healthier food slowing sales sparked consolidation executive changes industry kraft 2015 merged hj heinz co form kraft heinz co made bid unilever plc earlier year general mills inc hershey co others named new ceos year mondelez sought buy hershey last year deal worth 25 billion ms rosenfeld walked away hershey rebuffed advances second quarter mondelez delivered revenue 59 billion earnings 48 cents share analysts polled thomson reuters expected 45 cents comparable sales quarter fell 27 hurt impacts cyberattack company still expects log 1 growth annually measure help new betterforyou food brands like vea shares mondelez 16 year rose 27 4480 premarket trading joann lublin contributed article write annie gasparro anniegasparrowsjcom irene rosenfeld stepping 11 years chief executive snack giant mondelez international inc fought improve sales profitability amid upheaval packaged food business investors pushed ms rosenfeld years draw profit broad portfolio traditional snacks oreos ritz crackers mondelez faltered volatile emerging markets struggled address consumer demands fresher healthier food americas bestknown food brands losing shelf space new trendier products sending race buy create new products keep hindsight think perhaps could gone costs little faster ms rosenfeld said wednesday regret havent fully realized potential top line work fall outsider dirk van de put head canadas privately held mccain foods ltd take ms rosenfeld november ms rosenfeld 64 years old continue chair mondelez board retires march interview ms rosenfeld said told mondelez board members plans retire two years ago didnt precise timeline said decade good time think transition said mondelez board members searching ms rosenfelds successor since least spring ms rosenfeld wanted find right person agreed leave irene truly transformed company 11 years said lois juliber independent mondelez director since 2007 text message ms rosenfelds retirement shrink already small pool female chief executives biggest us businesses wednesday women held 27 ceo spots sampp 500 companies according research group catalyst 56 total catalysts tally reflects companies index january 2017 mr van de put led mccain foods six years increasing revenue profitability even companys core product french fries fell favor many healthconscious consumers address shift mccain introduced sweetpotato fries lowfat varieties worked previously danone sa cocacola co mars inc ms rosenfeld said ready jump 73 billion maker potato products 66 billion conglomerate whose disparate brands stretch triscuits trident gum theres real value fresh pair eyes ms rosenfeld said citing mr van de puts experience food companies three continents said board considered internal candidates succeed well wouldnt name ms rosenfeld led mondelez several transformations 2010 orchestrated acquisition british chocolate company cadbury plc 19 billion two years later separated kraft oscar mayer brands renamed remaining company mondelez focused company struggled grow stable legacy brands particularly face economic turmoil key emerging markets including china venezuela single biggest factor change macro environment ms rosenfeld said activist investors nelson peltz william ackman took big stakes company 2013 2015 respectively urged mondelez improve profit ms rosenfeld responded part cutting costs closing selling 40 factories helped boost companys adjusted operating margin 153 2016 12 2013 investors say changes fell short anyone close plants reduce head count innovation asked dennis oconnor longtime mondelez investor north carolina owns thousand shares mondelez shares risen 20 past three years short 29 gain broader sampp 500 shares closed roughly flat wednesday mr peltz mondelez board member welcomed mr van de puts hiring wednesday congratulated ms rosenfeld efforts improve profitability aaron brunette analyst santa barbara asset management mondelez shareholder said thinks ms rosenfeld made progress recent years setting company strong revenue growth external challenges subside slowing sales sparked consolidation executive changes industry kraft 2015 merged hj heinz co form kraft heinz co made bid unilever plc earlier year general mills inc hershey co others named new ceos year mondelez sought buy hershey last year deal worth 25 billion ms rosenfeld walked away hershey rebuffed advances kraft foods named new chief executive months deal heinz leading analysts question whether ms rosenfelds departure makes mondelez likely acquisition target staying board ms rosenfeld could remain key player brokering deal steps said bernstein analyst alexia howard second quarter mondelez delivered revenue 59 billion earnings 48 cents share analysts polled thomson reuters expected 45 cents comparable sales quarter fell 27 hurt impacts cyberattack company still expects 1 growth annually measure year help new betterforyou food brands like vea joann lublin contributed article write annie gasparro anniegasparrowsjcom end dow jones newswires august 02 2017 1737 et 2137 gmt | 1,035 |
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<p>Source: Verizon</p>
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<p>Last April, Verizon Communicationsattempted to join the skinny bundle revolution. The company's Custom TV offering gave prospective consumers 35 base channels with seven separate add-on packages of five to 10 channels apiece selected by genre: Pop culture, kids, entertainment, and sports were among the add-on categories.</p>
<p>Two of these additional genre-specific add-ons were included in the $65 cost with Internet service.Additional add-ons were available for a $10 monthly fee. Subscribers looking to save money on their TV package and to have increased choice and customization were understandably elated by the new offering, but another group of stakeholders were decidedly less sanguine: TV networks.</p>
<p>Very quickly after announcing its intentions,Verizon received pushbackfromThe Walt Disney Co.regarding its ESPN host of networks. Through a spokesperson, Disney claimed Verizon could not offer ESPN <a href="http://www.fool.com/investing/general/2015/04/23/disneys-espn-throws-the-flag-on-verizons-new-skinn.aspx?source=eptfxblnk0000004" type="external">in a separate sports package Opens a New Window.</a> because of a clause in their legal contract. Soon thereafter, Disney filed a lawsuit to stop Verizon from offering Custom TV. After nearly a year, it seems both companies have made headway toward agreement and appear to be close to settling their lawsuit. While the smoke has yet to clear, it seems as if there's one clear winner and one clear loser from this prospective settlement.</p>
<p>All about the baseOn the surface, it appears Disney had the upper hand in negotiations. Last week, Verizon changed its Custom TV offering substantially, from one base bundle of 35 channels without ESPN to a choice of two base bundles: Custom TV -- Essentials, which does not include ESPN, and Custom TV -- Sports &amp; More, which does include the network. The genre-based add-on packages have decreased from 7 to 3: Movie Lovers Pack, Kids Teens &amp; Family Pack, and Global Sports Pack. Quickly after Verizon's press release detailing the modifications, Disney publicly announced they were "encouraged by the changes."</p>
<p>When compared with the prior Custom TV 35-channel count, though, the new offerings have more channels in the standard base package. Custom TV -- Essentials offers consumers nearly 80 channels while the Custom TV -- Sports provides prospective consumers nearly 60 channels. Lost are the two standard add-on packages, but the remaining add-on packages are now priced at $6 per month versus $10. Additionally, Custom TV's cost increased from $65 to $69.99 with Internet.</p>
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<p>Instead of being included in an add-on package, ESPN competes against one additional option for programming inclusion as a base package. The economics are understandably better for ESPN to make it into households under this new structure versus hoping users pick its networks as an add-one package. While Verizon is billing these changes on account of "customer feedback," it seems as if programmers had a hand in these changes and consumer choice was the clear loser.</p>
<p>Disney's concessions may be less than advertisedOn the surface, it appears Disney also offered concessions as well. The most apparent is the fact Disney, presumably, would have preferred ESPN to be present on both Custom TV offerings, but settled for being on the sports package only. Because of the more-expensive nature of sports-related programming, Verizon could not include the same amount of channels in the sports package as it did in the essentials package or add sports-related programming to the Custom TV -- Essentials package.</p>
<p>However, it seems as if Verizon's programming options are more favorable to ESPN's bundle. Included in the Custom TV -- Sports package is ESPN, USA, TNT, Disney, and TBS, the top five primetime cable networks among total viewers, respectively. Although Custom TV -- Essentials has more channels overall, the package only has two of the top five channels, USA and Disney, which goes against the "essentials" claim the company's name depicts.</p>
<p>It's possible Verizon was able to secure lower affiliate fees or costs in the negotiation. Unfortunately, these figures are not released to the public. However, the lower amount of channels the sports package boasts and the increased price hints against an aggressive discount. The loser in this update is the consumer who initially looked toward Custom TV as a strong step toward a la carte cable but has instead watched it morph into another large-channel offering at the expense of consumer choice.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/02/29/espn-and-verizon-make-nice-over-custom-tv-who-lost.aspx" type="external">ESPN and Verizon Make Nice Over Custom TV: Who Lost? Opens a New Window.</a> originally appeared on Fool.com.</p>
<p><a href="http://my.fool.com/profile/TMFJCar/info.aspx?source=eptfxblnk0000004" type="external">Jamal Carnette Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Walt Disney. The Motley Fool recommends 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 | source verizon continue reading last april verizon communicationsattempted join skinny bundle revolution companys custom tv offering gave prospective consumers 35 base channels seven separate addon packages five 10 channels apiece selected genre pop culture kids entertainment sports among addon categories two additional genrespecific addons included 65 cost internet serviceadditional addons available 10 monthly fee subscribers looking save money tv package increased choice customization understandably elated new offering another group stakeholders decidedly less sanguine tv networks quickly announcing intentionsverizon received pushbackfromthe walt disney coregarding espn host networks spokesperson disney claimed verizon could offer espn separate sports package opens new window clause legal contract soon thereafter disney filed lawsuit stop verizon offering custom tv nearly year seems companies made headway toward agreement appear close settling lawsuit smoke yet clear seems theres one clear winner one clear loser prospective settlement baseon surface appears disney upper hand negotiations last week verizon changed custom tv offering substantially one base bundle 35 channels without espn choice two base bundles custom tv essentials include espn custom tv sports amp include network genrebased addon packages decreased 7 3 movie lovers pack kids teens amp family pack global sports pack quickly verizons press release detailing modifications disney publicly announced encouraged changes compared prior custom tv 35channel count though new offerings channels standard base package custom tv essentials offers consumers nearly 80 channels custom tv sports provides prospective consumers nearly 60 channels lost two standard addon packages remaining addon packages priced 6 per month versus 10 additionally custom tvs cost increased 65 6999 internet advertisement instead included addon package espn competes one additional option programming inclusion base package economics understandably better espn make households new structure versus hoping users pick networks addone package verizon billing changes account customer feedback seems programmers hand changes consumer choice clear loser disneys concessions may less advertisedon surface appears disney also offered concessions well apparent fact disney presumably would preferred espn present custom tv offerings settled sports package moreexpensive nature sportsrelated programming verizon could include amount channels sports package essentials package add sportsrelated programming custom tv essentials package however seems verizons programming options favorable espns bundle included custom tv sports package espn usa tnt disney tbs top five primetime cable networks among total viewers respectively although custom tv essentials channels overall package two top five channels usa disney goes essentials claim companys name depicts possible verizon able secure lower affiliate fees costs negotiation unfortunately figures released public however lower amount channels sports package boasts increased price hints aggressive discount loser update consumer initially looked toward custom tv strong step toward la carte cable instead watched morph another largechannel offering expense consumer choice article espn verizon make nice custom tv lost opens new window originally appeared foolcom jamal carnette opens new window position stocks mentioned motley fool owns shares recommends walt disney motley fool recommends 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 | 519 |
<p>Economists place long odds on President Donald Trump nominating Federal Reserve Chairwoman Janet Yellen to a second term, but have little consensus on who might take her place.</p>
<p>A recent Wall Street Journal survey found economists placed a 20.8% average probability on Ms. Yellen getting the nod, the largest share won by anyone named in the poll. While Ms. Yellen isn't expected to be picked, Mr. Trump hasn't ruled it out.</p>
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<p>The second most likely candidate, according to the survey respondents, was National Economic Council Director Gary Cohn, who garnered a 13.7% probability. Mr. Cohn, former Goldman Sachs Group Inc. president, is managing the White House's search for a nominee to take the helm when Ms. Yellen's term ends in early February.</p>
<p>Other contenders include Kevin Warsh, a Fed governor from 2006 to 2011, to whom economists assigned a 11.5% probability of becoming the next chairman.</p>
<p>Respondents put roughly the same odds, 11.3%, on the top Fed position going to John Taylor, the Stanford University economist who developed an eponymous policy rule for setting short-term interest rates according to a mix of economic variables, including inflation and employment measures.</p>
<p>The Journal surveyed 63 economists in its monthly survey from July 7-11, and asked them to assign probability to candidates from a list of 14 names analysts have mentioned as potential Trump choices to run the Fed. Respondents also could assign probability to someone not on the list. The survey results were an average of their responses, although not every economist submitted estimates or comments for the question.</p>
<p>Bernard Baumohl of the Economic Outlook Group viewed Ms. Yellen's chances for reappointment as favorable, placing a 40% probability on her renomination, "because her cautious approach to monetary policy has been good for the stock market."</p>
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<p>Ms. Yellen has said on numerous occasions that she intends to serve out her current term as chairwoman. When asked if she would accept a request from the president to nominate her for another term during testimony Wednesday, Ms. Yellen told the House Financial Services Committee that the matter of a renomination has "not been something that's come up," but she is prepared to discuss it with the president.</p>
<p>In separate testimony to the Senate Banking Committee on Thursday, Ms. Yellen said she hasn't decided whether she would accept renomination if offered it.</p>
<p>The economists polled assigned some uncertainty to the overall nomination process in their comments, citing the unpredictable nature of the Trump White House so far.</p>
<p>"Who can read President Trump's mind?," said James Smith, chief economist at Parsec Financial.</p>
<p>"Surprise appointments have been Trump's hallmark," Joel Naroff of Naroff Economic Advisors said.</p>
<p>Further down on the list of potential nominees, with an average 6.5% probability of being chosen, was Columbia University Professor Glenn Hubbard, who was chairman of the Council of Economic Advisers under President George W. Bush. Fed governor Jerome Powell garnered 5.6%, while former Dallas Fed President Richard Fisher got 4.8%.</p>
<p>The respondents put a 3.9% probability on Kevin Hassett, current chairman of the White House Council of Economic Advisers, and at 3.2%. J.P. Morgan Chase &amp; Co. Chief James Dimon.</p>
<p>One wild-card name on the list was Bank of England Gov. Mark Carney, a Canadian who previously ran the Bank of Canada. His term as head of the British central bank doesn't end until June 30, 2019, however, more than a year after Ms. Yellen's term as chairwoman expires. Economists placed just a 0.3% probability on him netting the hat trick of governing the Canadian, U.K. and U.S. central banks.</p>
<p>Ms. Yellen's term as Fed chairwoman ends on Feb. 3, 2018. She was nominated by former President Barack Obama. She previously served as Fed vice chairwoman and as president of the San Francisco Fed.</p>
<p>Write to Harriet Torry at [email protected]</p>
<p>Economists place long odds on President Donald Trump nominating Federal Reserve Chairwoman Janet Yellen to a second term, but have little consensus on who might take her place.</p>
<p>A recent Wall Street Journal survey found economists placed a 20.8% average probability on Ms. Yellen getting the nod, the largest share won by anyone named in the poll. While Ms. Yellen isn't expected to be picked, Mr. Trump hasn't ruled it out.</p>
<p>The second most likely candidate, according to the survey respondents, was National Economic Council Director Gary Cohn, who garnered a 13.7% probability. Mr. Cohn, former Goldman Sachs Group Inc. president, is managing the White House's search for a nominee to take the helm when Ms. Yellen's term ends in early February.</p>
<p>Other contenders include Kevin Warsh, a Fed governor from 2006 to 2011, to whom economists assigned a 11.5% probability of becoming the next chairman.</p>
<p>Respondents put roughly the same odds, 11.3%, on the top Fed position going to John Taylor, the Stanford University economist who developed an eponymous policy rule for setting short-term interest rates according to a mix of economic variables, including inflation and employment measures.</p>
<p>The Journal surveyed 63 economists in its monthly survey from July 7-11, and asked them to assign probability to candidates from a list of 14 names analysts have mentioned as potential Trump choices to run the Fed. Respondents also could assign probability to someone not on the list. The survey results were an average of their responses, although not every economist submitted estimates or comments for the question.</p>
<p>Bernard Baumohl of the Economic Outlook Group viewed Ms. Yellen's chances for reappointment as favorable, placing a 40% probability on her renomination, "because her cautious approach to monetary policy has been good for the stock market."</p>
<p>Ms. Yellen has said on numerous occasions that she intends to serve out her current term as chairwoman. When asked if she would accept a request from the president to nominate her for another term during testimony Wednesday, Ms. Yellen told the House Financial Services Committee that the matter of a renomination has "not been something that's come up," but she is prepared to discuss it with the president.</p>
<p>In separate testimony to the Senate Banking Committee on Thursday, Ms. Yellen said she hasn't decided whether she would accept renomination if offered it.</p>
<p>The economists polled assigned some uncertainty to the overall nomination process in their comments, citing the unpredictable nature of the Trump White House so far.</p>
<p>"Who can read President Trump's mind?," said James Smith, chief economist at Parsec Financial.</p>
<p>"Surprise appointments have been Trump's hallmark," Joel Naroff of Naroff Economic Advisors said.</p>
<p>Further down on the list of potential nominees, with an average 6.5% probability of being chosen, was Columbia University Professor Glenn Hubbard, who was chairman of the Council of Economic Advisers under President George W. Bush. Fed governor Jerome Powell garnered 5.6%, while former Dallas Fed President Richard Fisher got 4.8%.</p>
<p>The respondents put a 3.9% probability on Kevin Hassett, President Donald Trump's nominee for chairman of the White House Council of Economic Advisers who is awaiting Senate confirmation, and at 3.2%. J.P. Morgan Chase &amp; Co. Chief James Dimon.</p>
<p>One wild-card name on the list was Bank of England Gov. Mark Carney, a Canadian who previously ran the Bank of Canada. His term as head of the British central bank doesn't end until June 30, 2019, however, more than a year after Ms. Yellen's term as chairwoman expires. Economists placed just a 0.3% probability on him netting the hat trick of governing the Canadian, U.K. and U.S. central banks.</p>
<p>Ms. Yellen's term as Fed chairwoman ends on Feb. 3, 2018. She was nominated by former President Barack Obama. She previously served as Fed vice chairwoman and as president of the San Francisco Fed.</p>
<p>Write to Harriet Torry at [email protected]</p>
<p>Corrections &amp; Amplifications</p>
<p>This article was corrected on Aug. 1, 2017 at 6:35 p.m. ET to show that Kevin Hassett, President Donald Trump's nominee for chairman of the White House Council of Economic Advisers, is awaiting Senate confirmation. The original version incorrectly stated Mr. Hassett is the current chairman.</p>
<p>Kevin Hassett, President Donald Trump's nominee for chairman of the White House Council of Economic Advisers, is awaiting Senate confirmation. "Economists Place One-in-Five Odds of Trump Reappointing Yellen As Fed Chair" at 6:14 a.m. EDT July 14, incorrectly stated Mr. Hassett is the current chairman in the 14th paragraph. (Aug. 1, 2017)</p>
<p>(END) Dow Jones Newswires</p>
<p>August 01, 2017 18:45 ET (22:45 GMT)</p> | true | 0 | economists place long odds president donald trump nominating federal reserve chairwoman janet yellen second term little consensus might take place recent wall street journal survey found economists placed 208 average probability ms yellen getting nod largest share anyone named poll ms yellen isnt expected picked mr trump hasnt ruled continue reading second likely candidate according survey respondents national economic council director gary cohn garnered 137 probability mr cohn former goldman sachs group inc president managing white houses search nominee take helm ms yellens term ends early february contenders include kevin warsh fed governor 2006 2011 economists assigned 115 probability becoming next chairman respondents put roughly odds 113 top fed position going john taylor stanford university economist developed eponymous policy rule setting shortterm interest rates according mix economic variables including inflation employment measures journal surveyed 63 economists monthly survey july 711 asked assign probability candidates list 14 names analysts mentioned potential trump choices run fed respondents also could assign probability someone list survey results average responses although every economist submitted estimates comments question bernard baumohl economic outlook group viewed ms yellens chances reappointment favorable placing 40 probability renomination cautious approach monetary policy good stock market advertisement ms yellen said numerous occasions intends serve current term chairwoman asked would accept request president nominate another term testimony wednesday ms yellen told house financial services committee matter renomination something thats come prepared discuss president separate testimony senate banking committee thursday ms yellen said hasnt decided whether would accept renomination offered economists polled assigned uncertainty overall nomination process comments citing unpredictable nature trump white house far read president trumps mind said james smith chief economist parsec financial surprise appointments trumps hallmark joel naroff naroff economic advisors said list potential nominees average 65 probability chosen columbia university professor glenn hubbard chairman council economic advisers president george w bush fed governor jerome powell garnered 56 former dallas fed president richard fisher got 48 respondents put 39 probability kevin hassett current chairman white house council economic advisers 32 jp morgan chase amp co chief james dimon one wildcard name list bank england gov mark carney canadian previously ran bank canada term head british central bank doesnt end june 30 2019 however year ms yellens term chairwoman expires economists placed 03 probability netting hat trick governing canadian uk us central banks ms yellens term fed chairwoman ends feb 3 2018 nominated former president barack obama previously served fed vice chairwoman president san francisco fed write harriet torry harriettorrywsjcom economists place long odds president donald trump nominating federal reserve chairwoman janet yellen second term little consensus might take place recent wall street journal survey found economists placed 208 average probability ms yellen getting nod largest share anyone named poll ms yellen isnt expected picked mr trump hasnt ruled second likely candidate according survey respondents national economic council director gary cohn garnered 137 probability mr cohn former goldman sachs group inc president managing white houses search nominee take helm ms yellens term ends early february contenders include kevin warsh fed governor 2006 2011 economists assigned 115 probability becoming next chairman respondents put roughly odds 113 top fed position going john taylor stanford university economist developed eponymous policy rule setting shortterm interest rates according mix economic variables including inflation employment measures journal surveyed 63 economists monthly survey july 711 asked assign probability candidates list 14 names analysts mentioned potential trump choices run fed respondents also could assign probability someone list survey results average responses although every economist submitted estimates comments question bernard baumohl economic outlook group viewed ms yellens chances reappointment favorable placing 40 probability renomination cautious approach monetary policy good stock market ms yellen said numerous occasions intends serve current term chairwoman asked would accept request president nominate another term testimony wednesday ms yellen told house financial services committee matter renomination something thats come prepared discuss president separate testimony senate banking committee thursday ms yellen said hasnt decided whether would accept renomination offered economists polled assigned uncertainty overall nomination process comments citing unpredictable nature trump white house far read president trumps mind said james smith chief economist parsec financial surprise appointments trumps hallmark joel naroff naroff economic advisors said list potential nominees average 65 probability chosen columbia university professor glenn hubbard chairman council economic advisers president george w bush fed governor jerome powell garnered 56 former dallas fed president richard fisher got 48 respondents put 39 probability kevin hassett president donald trumps nominee chairman white house council economic advisers awaiting senate confirmation 32 jp morgan chase amp co chief james dimon one wildcard name list bank england gov mark carney canadian previously ran bank canada term head british central bank doesnt end june 30 2019 however year ms yellens term chairwoman expires economists placed 03 probability netting hat trick governing canadian uk us central banks ms yellens term fed chairwoman ends feb 3 2018 nominated former president barack obama previously served fed vice chairwoman president san francisco fed write harriet torry harriettorrywsjcom corrections amp amplifications article corrected aug 1 2017 635 pm et show kevin hassett president donald trumps nominee chairman white house council economic advisers awaiting senate confirmation original version incorrectly stated mr hassett current chairman kevin hassett president donald trumps nominee chairman white house council economic advisers awaiting senate confirmation economists place oneinfive odds trump reappointing yellen fed chair 614 edt july 14 incorrectly stated mr hassett current chairman 14th paragraph aug 1 2017 end dow jones newswires august 01 2017 1845 et 2245 gmt | 906 |
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<p>Image source: Getty Images.</p>
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<p>With less than two weeks to go before we turn the page on 2016, we can look back on another largely successful year for the healthcare industry. The U.S. Food and Drug Administration has approved 19 novel drugs in 2016 to treat everything from psoriasis to hepatitis C to cancer. Meanwhile, the regulatory agency has also given the green light to 25 new medical devices this year. With tens of billions of dollars invested in research and development annually, it's reassuring to see that money paying off in life-changing medications and devices.</p>
<p>Of course, some medical breakthroughs, be they approvals or ongoing clinical trials, stood head-and-shoulders above the rest in 2016. In no particular order, here are the 12 greatest medical breakthroughs of 2016.</p>
<p>One of the most exciting advances of 2016 was the FDA's approval in September of Medtronic's (NYSE: MDT) MiniMed 670G, the <a href="http://www.fool.com/investing/2016/10/01/this-could-be-the-biggest-breakthrough-ever-for-th.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">world's first artificial pancreas Opens a New Window.</a> for type 1 diabetes. The device, which was approved for those aged 14 and up, measures a patient's blood glucose every five minutes. It uses a sensor with a protruding needle that's slipped under the skin to measure insulin levels, while a pump worn on the abdomen delivers insulin as needed. This setup could dramatically reduce instances of hypoglycemia and greatly improve the quality of life of type 1 diabetics, who no longer have to constantly check their blood sugar throughout the day.</p>
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<p>Image source: Getty Images.</p>
<p>Also in September (September was an encouraging month for type 1 diabetics), Lexicon Pharmaceuticals (NASDAQ: LXRX) announced that its experimental dual inhibitor of SGLT-1 and SGLT-2 <a href="http://www.fool.com/investing/2016/09/19/this-diabetes-breakthrough-is-great-news-or-terrib.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">met its mark Opens a New Window.</a> in a phase 3 trial for type 1 diabetes. The drug, sotagliflozin, showed average A1C reductions of 0.43% and 0.49%, respectively, in its once-daily 200 mg dose and its once-daily 400 mg dose. This compares to just a 0.08% A1C reduction for the placebo. Sotagliflozin, the first dual-inhibitor of SGLT-1 (which works in the intestines) and SGLT-2 (which works in the kidneys) may also have the same welcome side effects of weight loss and lowered systolic blood pressure that FDA-approved SGLT-2 drugs have shown.</p>
<p>When it comes to the hepatitis C virus (HCV), Gilead Sciences (NASDAQ: GILD) is synonymous with "innovation." In June, Gilead added a third, unique HCV drug to its arsenal with the approval of Epclusa. However, Epclusa isn't your typical genotype-specific drug. Epclusa is the first pan-genotypic-approved drug, meaning it's capable of treating all six genotypes of hepatitis. It led to 95% to 99% virologic clearance 12 weeks after finishing treatment for patients with no or mild cirrhosis of the liver, while for those with moderate to severe cirrhosis, Epclusa in combination with a ribavirin led to 94% virologic clearance at the 12-week post-treatment mark.</p>
<p>Select sufferers of Duchenne muscular dystrophy (DMD), a rare disease that causes the progressive degeneration of muscle due to a lack of dystrophin production, also got great news in 2016. In September, the FDA approved Sarepta Therapeutics' (NASDAQ: SRPT) Exondys 51, a therapy designed to treat exon 51-skipping DMD, which affects about 1 in 8 DMD patients. In multiple extension updates from its phase 2b study, the Exondys 51 arm often delivered 50-meter to 70-meter improvements in the six-minute walk test compared to the placebo. This is the first drug ever approved by the FDA to treat DMD.</p>
<p>Image source: Getty Images.</p>
<p>Puff, puff, cure? Believe it or not, in April the U.S. Drug Enforcement Agency OK'ed the first-ever clinical trial in which patients will be smoking marijuana. The DEA denied petitions to reschedule cannabis in August, but in April it gave the green light to the Multidisciplinary Association for Psychedelic Studies, which is running the trial, to establish whether or not smoking pot can have positive medical benefits for patients with post-traumatic stress disorder, or PTSD. Previous clinical studies have only allowed extracts of the cannabis plant to be tested. Cannabis has appeared to demonstrate positive benefits in previous clinical trials across a broad spectrum of ailments, so this softening in DEA policy could mean that further testing is on the horizon.</p>
<p>While Bristol-Myers Squibb's (NYSE: BMY) cancer immunotherapy Opdivo is already approved to treat advanced melanoma, it was a five-year follow-up of a previous phase 1 study that stole the show in 2016. At the American Association for Cancer Research's annual meeting, Bristol-Myers Squibb announced that 34% of patients in its phase 1 trial of Opdivo were still alive five years later. That may not sound like a lot, but prior to the introduction of cancer immunotherapies, the average survival period for advanced melanoma patients was only 11 months.</p>
<p>Opdivo may have had a banner year with its long-term advanced melanoma data, but Bristol-Myers' key cancer drug flopped in a first-line advanced non-small cell lung cancer (NSCLC) study. That wasn't the case for rival cancer immunotherapy Keytruda, which was developed by Merck (NYSE: MRK). In first-line advanced NSCLC patients whose tumors had at least 50% PD-L1 expression, the Keytruda arm had a 50% reduction in the risk of progression or death compared to chemotherapy, and a 40% decrease in the risk of death compared to chemotherapy. Furthermore, overall response rates jumped to 45% from just 28% with chemotherapy. For patients whose tumors have high PD-L1 expression, Keytruda has become a source of new hope.</p>
<p>Image source: Getty Images.</p>
<p>It's so nice we'll mention it twice: Keytruda also delivered the first positive results seen in Merkel cell carcinoma (MCC) patients in clinical trials. MCC is a rare form of skin cancer that's about three times deadlier than melanoma. In the 26-patient study, Keytruda led to a 56% overall response rate. What was notable was the duration of response. There are no FDA-approved treatments for MCC, so the disease is usually treated with chemotherapy. Though chemotherapy leads to about a 55% response rate, most patients relapse within three months. That wasn't the case with Keytruda, which exhibited durable responses in many of the responding patients.</p>
<p>Although acute migraines are tough to treat, CoLucid Pharmaceuticals' (NASDAQ: CLCD) lasmiditan delivered incredible results in September via its late-stage SAMURAI study. In SAMURAI, the 100 mg and 200 mg doses led 28.2% and 32.2% of patients, respectively, to be migraine-free at the two-hour mark, which was essentially double the placebo at 15.3%. Not only did lasmiditan meet this primary endpoint of the trial, but the secondary endpoint of a statistically significant reduction in the most bothersome symptoms of migraine headaches strongly favored the 100 mg (40.9%) and 200 mg (40.7%) lasmiditan doses compared to the placebo (29.5%). Assuming all goes well in the remaining late-stage studies, CoLucid's lasmiditan <a href="http://www.fool.com/investing/2016/12/02/3-small-cap-biotech-stocks-that-could-double-in-20.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">could become a migraine-buster Opens a New Window.</a>.</p>
<p>Patients with advanced renal cell carcinoma (RCC) who have progressed on a previous line of therapy have a new, potent treatment option as of April 2016: Exelixis' (NASDAQ: EXEL) Cabometyx. In the METEOR study, Cabometyx nearly doubled progression-free survival (7.4 months) when compared to Afinitor (3.8 months), which was the primary endpoint of the study. However, its confirmed response rate (17%) was miles ahead of the Afinitor arm (3%), and median overall survival improved by nearly five months compared to Afinitor (21.4 months versus 16.5 months). This "trifecta" was a first in second-line RCC, and encouraging data via the phase 2 CABOSUN study could have Cabometyx improving kidney cancer patients' quality of life sooner rather than later.</p>
<p>Image source: Getty Images.</p>
<p>Johnson &amp; Johnson's (NYSE: JNJ) experimental psoriasis drug guselkumab also gave patients a reason to be optimistic by crushing the placebo in the phase 3 VOYAGE 1 study. The subcutaneously administered IL-23-targeting drug had 85.1% of patients achieving cleared or minimal disease after 16 weeks, compared to just 6.9% of placebo patients. Furthermore, a whopping 73.3% of guselkumab patients had 90% skin clearance or better compared to 2.9% for the placebo. Even further out, at the 24-week mark, 80.2% of guselkumab patients had 90% skin clearance compared to only 53% for the Humira arm. Humira is currently the best-selling drug in the world. Needless to say, guselkumab could be a game-changer for those suffering from psoriasis.</p>
<p>Finally, we'll end the way we began, with a life-changing medical device. In May, the FDA approved a one-of-a-kind buprenorphine implant for the treatment of opioid dependence. The implant, known as Probuphine, was designed by Titan Pharmaceuticals and Braeburn Pharmaceuticals to provide a constant, low-level dose of buprenorphine for six months to patients who are stable enough to be administered a low to moderate dose of buprenorphine as part of a treatment program. This new implant is highly convenient, as it removes the need to remember to take a pill, and it's another step toward safely ending the opioid epidemic in America.</p>
<p>10 stocks we like better than Merck and Co. 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=6ab02e4b-99f7-44c5-8aa3-20a78bf23806&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 Merck and Co. 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=6ab02e4b-99f7-44c5-8aa3-20a78bf23806&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 Nov. 7, 2016</p>
<p><a href="http://my.fool.com/profile/TMFUltraLong/info.aspx" type="external">Sean Williams Opens a New Window.</a>owns shares of Exelixis, but has no material interest in any other 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 owns shares of and recommends Exelixis and Gilead Sciences. It also owns shares of Medtronic and recommends Johnson and Johnson. 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 less two weeks go turn page 2016 look back another largely successful year healthcare industry us food drug administration approved 19 novel drugs 2016 treat everything psoriasis hepatitis c cancer meanwhile regulatory agency also given green light 25 new medical devices year tens billions dollars invested research development annually reassuring see money paying lifechanging medications devices course medical breakthroughs approvals ongoing clinical trials stood headandshoulders rest 2016 particular order 12 greatest medical breakthroughs 2016 one exciting advances 2016 fdas approval september medtronics nyse mdt minimed 670g worlds first artificial pancreas opens new window type 1 diabetes device approved aged 14 measures patients blood glucose every five minutes uses sensor protruding needle thats slipped skin measure insulin levels pump worn abdomen delivers insulin needed setup could dramatically reduce instances hypoglycemia greatly improve quality life type 1 diabetics longer constantly check blood sugar throughout day advertisement image source getty images also september september encouraging month type 1 diabetics lexicon pharmaceuticals nasdaq lxrx announced experimental dual inhibitor sglt1 sglt2 met mark opens new window phase 3 trial type 1 diabetes drug sotagliflozin showed average a1c reductions 043 049 respectively oncedaily 200 mg dose oncedaily 400 mg dose compares 008 a1c reduction placebo sotagliflozin first dualinhibitor sglt1 works intestines sglt2 works kidneys may also welcome side effects weight loss lowered systolic blood pressure fdaapproved sglt2 drugs shown comes hepatitis c virus hcv gilead sciences nasdaq gild synonymous innovation june gilead added third unique hcv drug arsenal approval epclusa however epclusa isnt typical genotypespecific drug epclusa first pangenotypicapproved drug meaning capable treating six genotypes hepatitis led 95 99 virologic clearance 12 weeks finishing treatment patients mild cirrhosis liver moderate severe cirrhosis epclusa combination ribavirin led 94 virologic clearance 12week posttreatment mark select sufferers duchenne muscular dystrophy dmd rare disease causes progressive degeneration muscle due lack dystrophin production also got great news 2016 september fda approved sarepta therapeutics nasdaq srpt exondys 51 therapy designed treat exon 51skipping dmd affects 1 8 dmd patients multiple extension updates phase 2b study exondys 51 arm often delivered 50meter 70meter improvements sixminute walk test compared placebo first drug ever approved fda treat dmd image source getty images puff puff cure believe april us drug enforcement agency oked firstever clinical trial patients smoking marijuana dea denied petitions reschedule cannabis august april gave green light multidisciplinary association psychedelic studies running trial establish whether smoking pot positive medical benefits patients posttraumatic stress disorder ptsd previous clinical studies allowed extracts cannabis plant tested cannabis appeared demonstrate positive benefits previous clinical trials across broad spectrum ailments softening dea policy could mean testing horizon bristolmyers squibbs nyse bmy cancer immunotherapy opdivo already approved treat advanced melanoma fiveyear followup previous phase 1 study stole show 2016 american association cancer researchs annual meeting bristolmyers squibb announced 34 patients phase 1 trial opdivo still alive five years later may sound like lot prior introduction cancer immunotherapies average survival period advanced melanoma patients 11 months opdivo may banner year longterm advanced melanoma data bristolmyers key cancer drug flopped firstline advanced nonsmall cell lung cancer nsclc study wasnt case rival cancer immunotherapy keytruda developed merck nyse mrk firstline advanced nsclc patients whose tumors least 50 pdl1 expression keytruda arm 50 reduction risk progression death compared chemotherapy 40 decrease risk death compared chemotherapy furthermore overall response rates jumped 45 28 chemotherapy patients whose tumors high pdl1 expression keytruda become source new hope image source getty images nice well mention twice keytruda also delivered first positive results seen merkel cell carcinoma mcc patients clinical trials mcc rare form skin cancer thats three times deadlier melanoma 26patient study keytruda led 56 overall response rate notable duration response fdaapproved treatments mcc disease usually treated chemotherapy though chemotherapy leads 55 response rate patients relapse within three months wasnt case keytruda exhibited durable responses many responding patients although acute migraines tough treat colucid pharmaceuticals nasdaq clcd lasmiditan delivered incredible results september via latestage samurai study samurai 100 mg 200 mg doses led 282 322 patients respectively migrainefree twohour mark essentially double placebo 153 lasmiditan meet primary endpoint trial secondary endpoint statistically significant reduction bothersome symptoms migraine headaches strongly favored 100 mg 409 200 mg 407 lasmiditan doses compared placebo 295 assuming goes well remaining latestage studies colucids lasmiditan could become migrainebuster opens new window patients advanced renal cell carcinoma rcc progressed previous line therapy new potent treatment option april 2016 exelixis nasdaq exel cabometyx meteor study cabometyx nearly doubled progressionfree survival 74 months compared afinitor 38 months primary endpoint study however confirmed response rate 17 miles ahead afinitor arm 3 median overall survival improved nearly five months compared afinitor 214 months versus 165 months trifecta first secondline rcc encouraging data via phase 2 cabosun study could cabometyx improving kidney cancer patients quality life sooner rather later image source getty images johnson amp johnsons nyse jnj experimental psoriasis drug guselkumab also gave patients reason optimistic crushing placebo phase 3 voyage 1 study subcutaneously administered il23targeting drug 851 patients achieving cleared minimal disease 16 weeks compared 69 placebo patients furthermore whopping 733 guselkumab patients 90 skin clearance better compared 29 placebo even 24week mark 802 guselkumab patients 90 skin clearance compared 53 humira arm humira currently bestselling drug world needless say guselkumab could gamechanger suffering psoriasis finally well end way began lifechanging medical device may fda approved oneofakind buprenorphine implant treatment opioid dependence implant known probuphine designed titan pharmaceuticals braeburn pharmaceuticals provide constant lowlevel dose buprenorphine six months patients stable enough administered low moderate dose buprenorphine part treatment program new implant highly convenient removes need remember take pill another step toward safely ending opioid epidemic america 10 stocks like better merck co 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 merck co wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns nov 7 2016 sean williams opens new windowowns shares exelixis material interest companies mentioned article follow caps screen name tmfultralong opens new window check twitter goes handle tmfultralong opens new window motley fool owns shares recommends exelixis gilead sciences also owns shares medtronic recommends johnson johnson 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 | 1,070 |
<p>TIDMSKY</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: Invesco</p>
<p>Advertisement</p>
<p>Ltd.</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</p>
<p>securities this form relates: Sky Plc.</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: 13</p>
<p>For an opening position disclosure, state the latest September</p>
<p>practicable date prior to the disclosure 2017</p>
<p>(f) In addition to the company in 1(c) above, is the NO</p>
<p>discloser making disclosures in respect of any other</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>1. Interests and short positions in the relevant securities of the offeror</p>
<p>or offeree to which the disclosure relates following the dealing (if any)</p>
<p>GB0001411924 50p Ordinary &amp;</p>
<p>Class of relevant security: US83084V1061 ADR's</p>
<p>Short</p>
<p>Interests positions</p>
<p>Number % Number %</p>
<p>(1) Relevant securities owned and/or controlled: 12,323,676 0.71%</p>
<p>(2) Cash-settled derivatives:</p>
<p>(3) Stock-settled derivatives (including options)</p>
<p>and agreements to purchase/sell:</p>
<p>TOTAL: 12,323,676 0.71%</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>1. Rights to subscribe for new securities (including directors' and other</p>
<p>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>1. Purchases and sales</p>
<p>Class of relevant Purchase/sale Number of securities Price per unit</p>
<p>security</p>
<p>ADR</p>
<p>(1:4) Sell 226,991 49.27 USD</p>
<p>Ordinary Sell 9,100,000 9.37 GBP</p>
<p>(b) Cash-settled derivative transactions</p>
<p>Class of Product description Nature of dealing Number of Price</p>
<p>relevant e.g. CFD e.g. opening/closing a long/short position, increasing/reducing reference per</p>
<p>security a long/short position securities unit</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 Nature of dealing Details Price per unit</p>
<p>relevant e.g. subscription, conversion (if</p>
<p>security 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: 14 September 2017</p>
<p>Contact name: Philippa Holmes</p>
<p>Telephone number: 01491 417 447</p>
<p>Public disclosures under Rule 8 of the Code must be made to a Regulatory</p>
<p>Information Service and must also be emailed to the Takeover Panel at</p>
<p>[email protected]. The Panel's Market Surveillance Unit is</p>
<p>available for consultation in relation to the Code's disclosure</p>
<p>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: Invesco Ltd. via Globenewswire</p>
<p>http://www.invescoperpetual.co.uk/</p>
<p>(END) Dow Jones Newswires</p>
<p>September 14, 2017 08:58 ET (12:58 GMT)</p> | true | 0 | tidmsky 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 invesco advertisement ltd 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 securities form relates sky plc use separate form offerorofferee exempt fund manager connected offerorofferee state specify identity offerorofferee e date position helddealing undertaken 13 opening position disclosure state latest september practicable date prior disclosure 2017 f addition company 1c discloser making disclosures respect 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 1 interests short positions relevant securities offeror offeree disclosure relates following dealing gb0001411924 50p ordinary amp class relevant security us83084v1061 adrs short interests positions number number 1 relevant securities owned andor controlled 12323676 071 2 cashsettled derivatives 3 stocksettled derivatives including options agreements purchasesell total 12323676 071 interests short positions disclosed details open stocksettled derivative positions including traded options agreements purchase sell relevant securities given supplemental form 8 open positions 1 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 1 purchases sales class relevant purchasesale number securities price per unit security adr 14 sell 226991 4927 usd ordinary sell 9100000 937 gbp b cashsettled derivative transactions class product description nature dealing number price relevant eg cfd eg openingclosing longshort position increasingreducing reference per security longshort position securities unit 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 nature dealing details price per unit relevant eg subscription conversion security 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 14 september 2017 contact name philippa holmes telephone number 01491 417 447 public disclosures rule 8 code must made regulatory information service must also emailed takeover panel monitoringdisclosureorguk 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 invesco ltd via globenewswire httpwwwinvescoperpetualcouk end dow jones newswires september 14 2017 0858 et 1258 gmt | 563 |
<p />
<p>When Fitbit (NYSE: FIT) released fourth quarter 2016 results last week, shareholders were very interested in what the company was going to do to reverse the trend of slowing growth. Fitbit candidly discussed the revenue miss, provided a clear plan for how they will stabilize in 2017 and continue to invest for the future. Key priorities for the current year include moving the channel inventory, fixing the cost structure, and streamlining the roadmap for greater adoption. Fitbit continues to invest in innovation in software and services and spent time discussing a Fitbit smartwatch.</p>
<p>Continue Reading Below</p>
<p>To help you understand what Fitbit is doing to stop the bleeding, while at the same time investing for the future, here are five important points from CEO, James Park, during this quarter's earnings call.</p>
<p>Image Source: Fitbit</p>
<p>As a result of the fourth quarter revenue being significantly impacted by a weaker than expected demand, Fitbit's retail channel partner stores are sitting on more inventory than expected. The company recognized this issue late last year and has taken a one-time charge of $42 million in the fourth quarter for rebates and seller allowances to help their channel partners move the excess inventory. This excess inventory reduces the company's 2017 sales, so it's important to get the inventory rebalanced quickly. This rebalancing is especially important to complete before it launches new products for 2017. The sooner this get fixed, the better off Fitbit and its retail partners will be.</p>
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<p>Fitbit's 2017 revenue guidance is in the range of $1.5 billion to $1.7 billion, which is a reduction of 22% to 31% from 2016. Without quick and significant changes to Fitbit's cost structure, the company would burn through cash and post a sizable loss for the coming year. The company is reducing costs in two major areas: marketing spend and headcount reductions. James Park clarified that the savings are split about equally between these two actions. The headcount reductions were generally across the company, but reductions related to supporting the accessories business was hit harder as Fitbit moves this business to a partner/licensing model. Since the headcount reductions have already taken place and marketing expenses were resized to be aligned with the new revenue forecast, Fitbit is already benefiting from the a lower cost structure.</p>
<p>Fitbit recognizes that it needs to move beyond the early adopter segment of buyers that has built Fitbit's <a href="https://www.fool.com/investing/2017/02/03/fitbits-down-but-with-its-large-active-community-i.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">active community</a> of users to over 23 million. Currently Fitbit is selling seven Fitness trackers ranging from $59 to $249, which can be confusing to the mass market user that just wants a product to help them be more active. Additionally, when Fitbit wants to add a smartwatch and "different form factors" to the company's product lineup, this will increase product lines. In order to make way for these new products, it make sense to streamline its current offerings. Additionally, reducing the number of products helps the company focus its internal resources on fewer priorities. If this product transition is executed well, Fitbit could welcome another 40 million to 80 million new customers.</p>
<p>Fitbit collects a massive amount of data for its users and about the user community, it is starting to turn this data into features and products that will make Fitbit a "must have" device. Fitbit is already realizing early success with its Fitstar Personal Trainer app and the partnership with United Healthcare. The Fitstar app is able to tailor workouts based on the users feedback and fitness progress. Early indications show that consumers like these features and the app has over 1.2 million downloads in the first two months of 2017.For the <a href="https://www.fool.com/investing/2017/01/03/how-using-a-fitbit-could-lower-your-healthcare-cos.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">United Healthcare deal</a>, Fitbit built an app which runs on the Charge 2 that lets users know how they are progressing toward the goals to get up to $1,500 into their health savings account. As Fitbit improves the software features of its ecosystem, these enhancements will create a sticky ecosystem for customers. Customers that enjoy using Fitbit's products will come back again and again to purchase Fitbit products, which will expand the company's addressable market as a result.</p>
<p>Fitbit has made three acquisitions that will help them get into the smartwatch form factor: defunct mobile payments start-up <a href="https://www.fool.com/investing/general/2016/05/18/fitbit-is-preparing-to-jump-into-mobile-payments.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Coin</a>, assets from smartwatch maker <a href="https://www.fool.com/investing/2016/12/07/its-official-fitbit-inc-buys-pebbles-leftovers.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Pebble</a> and high end smartwatch company <a href="https://www.fool.com/investing/2017/01/10/fitbit-inc-scoops-up-yet-another-smartwatch-maker.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">Vector</a>. Fitbit hasn't made any announcements that would indicate it has used any of these assets in the current product line up. As far as the upcoming smartwatch, James Park mentioned that the smartwatch would have a large emphasis on developer SDK, which allows independent software developers to create unique applications and put them in an app store. James Park goes on to mention that these tools are "world-class in terms of developer productivity." Despite Park exclaiming he is excited for the product, no hints were given as to when a Fitbit smartwatch would be released.</p>
<p>Fitbit has a lot going on to stabilize the company losses and spur future growth. James Park summarized the current status of their growth initiatives in this quote from the earnings call.</p>
<p>Investors should be encouraged that he owns the fact that future success is dependent on the Fitbit team. Now they need to deliver.</p>
<p>10 stocks we like better than FitbitWhen 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 February 6, 2017</p>
<p><a href="http://my.fool.com/profile/TMFBwithbike/info.aspx" type="external">Brian Withers</a> owns shares of Fitbit. The Motley Fool owns shares of and recommends Fitbit. 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</a>.</p> | true | 0 | fitbit nyse fit released fourth quarter 2016 results last week shareholders interested company going reverse trend slowing growth fitbit candidly discussed revenue miss provided clear plan stabilize 2017 continue invest future key priorities current year include moving channel inventory fixing cost structure streamlining roadmap greater adoption fitbit continues invest innovation software services spent time discussing fitbit smartwatch continue reading help understand fitbit stop bleeding time investing future five important points ceo james park quarters earnings call image source fitbit result fourth quarter revenue significantly impacted weaker expected demand fitbits retail channel partner stores sitting inventory expected company recognized issue late last year taken onetime charge 42 million fourth quarter rebates seller allowances help channel partners move excess inventory excess inventory reduces companys 2017 sales important get inventory rebalanced quickly rebalancing especially important complete launches new products 2017 sooner get fixed better fitbit retail partners advertisement fitbits 2017 revenue guidance range 15 billion 17 billion reduction 22 31 2016 without quick significant changes fitbits cost structure company would burn cash post sizable loss coming year company reducing costs two major areas marketing spend headcount reductions james park clarified savings split equally two actions headcount reductions generally across company reductions related supporting accessories business hit harder fitbit moves business partnerlicensing model since headcount reductions already taken place marketing expenses resized aligned new revenue forecast fitbit already benefiting lower cost structure fitbit recognizes needs move beyond early adopter segment buyers built fitbits active community users 23 million currently fitbit selling seven fitness trackers ranging 59 249 confusing mass market user wants product help active additionally fitbit wants add smartwatch different form factors companys product lineup increase product lines order make way new products make sense streamline current offerings additionally reducing number products helps company focus internal resources fewer priorities product transition executed well fitbit could welcome another 40 million 80 million new customers fitbit collects massive amount data users user community starting turn data features products make fitbit must device fitbit already realizing early success fitstar personal trainer app partnership united healthcare fitstar app able tailor workouts based users feedback fitness progress early indications show consumers like features app 12 million downloads first two months 2017for united healthcare deal fitbit built app runs charge 2 lets users know progressing toward goals get 1500 health savings account fitbit improves software features ecosystem enhancements create sticky ecosystem customers customers enjoy using fitbits products come back purchase fitbit products expand companys addressable market result fitbit made three acquisitions help get smartwatch form factor defunct mobile payments startup coin assets smartwatch maker pebble high end smartwatch company vector fitbit hasnt made announcements would indicate used assets current product line far upcoming smartwatch james park mentioned smartwatch would large emphasis developer sdk allows independent software developers create unique applications put app store james park goes mention tools worldclass terms developer productivity despite park exclaiming excited product hints given fitbit smartwatch would released fitbit lot going stabilize company losses spur future growth james park summarized current status growth initiatives quote earnings call investors encouraged owns fact future success dependent fitbit team need deliver 10 stocks like better fitbitwhen 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 investors buy right fitbit wasnt one thats right think 10 stocks even better buys click learn picks stock advisor returns february 6 2017 brian withers owns shares fitbit motley fool owns shares recommends fitbit motley fool disclosure policy | 582 |
<p><a href="/topics/donald-trump/" type="external">Donald Trump</a> vowed to hold the line on illegal immigration Wednesday but toned down his harsher anti-Mexican jibes as he strode onto the world stage, making his first visit with a foreign head of state and winning concessions on free trade.</p>
<p>Hours after his meeting with Mexican President <a href="/topics/enrique-pena-nieto/" type="external">Enrique Pena Nieto</a> in Mexico City, <a href="/topics/donald-trump/" type="external">Mr. Trump</a> took to a stage in Phoenix and delivered a searing critique of the American immigration system, saying the country has ceded control of its decisions to corporations desperate for cheap workers and activists more worried about helping illegal immigrants than protecting U.S. security.</p>
<p>“Anyone who tells you that the core issue is the needs of those living here illegally has simply spent too much time living in <a href="/topics/washington/" type="external">Washington</a>,” the GOP presidential candidate said. “There is only one core issue in the immigration debate, and that issue is the well-being of the American people.”</p>
<p>He promised to revamp the system to weed out low-skilled workers who compete with Americans, and to impose an ideological test to make sure those the U.S. admits believe in democracy and human rights.</p>
<p>As for illegal immigrants, he promised to detain and oust those caught at the border, vowed to deport on “day one, my first hour in office” as many as 2 million illegal immigrants with criminal records, and said he’ll re-establish partnerships that harness local police to assist in nabbing illegal immigrants.</p>
<p>He said criminals will be the top priority for removal, just as they are under President Obama, but he said anyone here illegally can be deported — reversing Mr. Obama’s policy that cuts more than 80 percent of illegal immigrants out of any danger of deportation.</p>
<p>“No one will be immune or exempt from enforcement,” he said.</p>
<p>He did open several windows for illegal immigrants seeking legal status, including saying they could go home and apply to reenter from there. He said they will be admitted based on limits he’ll set in the future.</p>
<p>As for those that don’t go home, he said perhaps, years in the future, if the U.S. gets a handle on the problem, he is open to talking about what to do with those that have managed to avoid deportation and stay.</p>
<p>The speech came hours after he met with <a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a>, and emerged to say Mexican immigrants are “beyond reproach” — a huge shift from last year, when he called Mexicans rapists and criminals.</p>
<p><a href="/topics/donald-trump/" type="external">Mr. Trump</a> stumbled, though, when he touched on his iconic promise to build a border wall. He said he told <a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a> that both countries have the right to build barriers, but he said they didn’t “discuss” his vow to make <a href="/topics/mexico/" type="external">Mexico</a> foot the bill.</p>
<p><a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a> didn’t correct <a href="/topics/donald-trump/" type="external">Mr. Trump</a> at a joint press conference, but later posted a Twitter message saying they did in fact talk about payment, and he told <a href="/topics/donald-trump/" type="external">Mr. Trump</a> up front that <a href="/topics/mexico/" type="external">Mexico</a> won’t pony up.</p>
<p><a href="/topics/donald-trump/" type="external">Trump</a> campaign officials scrambled to explain their boss’ misleading statement, though the flap threatened to overshadow <a href="/topics/donald-trump/" type="external">Mr. Trump</a>’s nighttime speech laying out the long-awaited specifics of his plans to tackle illegal immigration in the U.S.</p>
<p>Even as immigration dominated the news, <a href="/topics/donald-trump/" type="external">Mr. Trump</a> made perhaps his biggest headway in <a href="/topics/mexico/" type="external">Mexico</a> on trade, with <a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a> saying he was open to new negotiations updating the North American Free Trade Agreement — the deal ratified by then-President Bill Clinton, which <a href="/topics/donald-trump/" type="external">Mr. Trump</a> says has sapped American jobs.</p>
<p>The Mexican leader said NAFTA has been good for his country and the U.S., but also said it could be revisited.</p>
<p>“The next president of the U.S. will find in my government a partner willing to build the route to modernize telecom so that it will become more effective and to generate more higher-quality jobs and better-paying jobs in both countries,” he said, according to the official translation.</p>
<p><a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a> also chided <a href="/topics/donald-trump/" type="external">Mr. Trump</a> for his previous insults aimed at <a href="/topics/mexico/" type="external">Mexico</a>, but said the two men, and their countries, can get beyond that.</p>
<p>“Mexican people have felt hurt by the comments that have been made. But I am sure that his genuine interest is to build a relationship that will give both of our societies better welfare,” he said.</p>
<p>Immigrant rights advocates weren’t satisfied, saying the trip and <a href="/topics/donald-trump/" type="external">Mr. Trump</a>’s subsequent speech don’t erase the past year’s worth of barbs <a href="/topics/donald-trump/" type="external">Mr. Trump</a> has aimed at immigrants and, particularly, illegal immigrants.</p>
<p>“The truth is, <a href="/topics/donald-trump/" type="external">Trump</a> found himself between a rock and a hard place — trying to please those who support him for his racism, while attempting to moderate his appearance to gain support from suburban voters — who refuse to support him for the exact same reason,” said Cesar J. Blanco, chief at the Latino Victory Fund.</p>
<p>“But he can’t have it both ways, and Latinos won’t be fooled by his meeting with <a href="/topics/enrique-pena-nieto/" type="external">Pena Nieto</a> or his play of words during the immigration speech tonight,” Mr. Blanco said.</p>
<p>Immigration has been a thorny political issue for years. Mr. Clinton pioneered a get-tough approach during his time in office, signing some of the strictest crackdown legislation in modern political history.</p>
<p>His wife, Democratic presidential nominee Hillary Clinton, has been on all sides of the issue in her career — but recently has tacked far to the left, saying she would deport fewer illegal immigrants than President Obama, and would try to find ways to get more of them cemented into American society.</p>
<p>The debate comes even as the contours of the issue are changing.</p>
<p>Illegal immigration has slowed from the peaks of the late 1990s and early 2000s, when the Border Patrol regularly caught more than a million illegal crossers, and hundreds of thousands of others entered on visas and then stayed past the expiration — as happened with some of the hijackers involved in the Sept. 11, 2001, terrorist attack.</p>
<p>In 2015 the Border Patrol caught fewer people than any time in four decades, and though the numbers have ticked up this year, analysts say it’s evidence that fewer people are trying to jump the southwestern border.</p>
<p>Still, more than 1,000 are caught each day, and the latest trend is illegal immigrants fleeing poor economies and dangerous gangs in Central America. Meanwhile, the flow of Mexicans, who provided most of the mass illegal immigration of the 1990s and 2000s, has dissipated, and some analysts say it’s now a net zero, with the number of new Mexican illegal immigrants matched by those older illegal immigrants going back home or getting legal status in the U.S.</p>
<p>Even with the changes, some 11 million illegal immigrants remain in the U.S., and policymakers in <a href="/topics/washington/" type="external">Washington</a> have spent more than a decade grappling with how to handle them.</p>
<p><a href="/topics/donald-trump/" type="external">Mr. Trump</a> had delivered conflicting messages during the campaign, saying at one point that illegal immigrants “have to go,” but other times signaling that those who’ve been here the longest and have ties to their community could earn some form of legal status.</p>
<p>The areas where <a href="/topics/donald-trump/" type="external">Mr. Trump</a> has not budged are in promising to crack down on so-called sanctuary cities that refuse to cooperate with deportation agents, and in his plans to build a wall along the U.S.- <a href="/topics/mexico/" type="external">Mexico</a> border.</p>
<p>The Republican nominee even produced a policy paper laying out options to make <a href="/topics/mexico/" type="external">Mexico</a> foot the bill, including docking remittances of Mexicans in the U.S. to send to relatives back home, imposing new tariffs on Mexican goods or raising the fees on visas for Mexicans entering the U.S.</p>
<p>Wall politics are toxic in <a href="/topics/mexico/" type="external">Mexico</a>, however, and <a href="/topics/enrique-pena-nieto/" type="external">Mr. Pena Nieto</a> said after the meeting that he told <a href="/topics/donald-trump/" type="external">Mr. Trump</a> his country won’t pay.</p>
<p>The Clinton campaign said <a href="/topics/donald-trump/" type="external">Mr. Trump</a>’s failure to solve the issue on his first meeting with the Mexican leader undercut his entire campaign. “It turns out <a href="/topics/donald-trump/" type="external">Trump</a> didn’t just choke, he got beat in the room and lied about it,” said John Podesta, the campaign chairman.</p>
<p><a href="/topics/donald-trump/" type="external">Mr. Trump</a>’s campaign tried to explain away the discrepancy. Spokesman Jason Miller said that Wednesday’s meeting was just an initial get-together and it “would have been inappropriate” to get into the details of the wall.</p>
<p>“It is unsurprising that they hold two different views on this issue, and we look forward to continuing the conversation,” Mr. Miller said.</p>
<p>And <a href="/topics/donald-trump/" type="external">Mr. Trump</a> showed no signs of backing down.</p>
<p>“We will build a great wall along the southern border. And <a href="/topics/mexico/" type="external">Mexico</a> will pay for the wall — 100 percent. They don’t know it yet, but they’re going to pay for the wall,” he said.</p>
<p>Copyright © 2018 The Washington Times, LLC. <a href="http://license.icopyright.net/3.7280?icx_id=/news/2016/aug/31/donald-trump-great-respect-mexicans/" type="external">Click here for reprint permission</a>.</p>
<p>&#160;</p> | true | 0 | donald trump vowed hold line illegal immigration wednesday toned harsher antimexican jibes strode onto world stage making first visit foreign head state winning concessions free trade hours meeting mexican president enrique pena nieto mexico city mr trump took stage phoenix delivered searing critique american immigration system saying country ceded control decisions corporations desperate cheap workers activists worried helping illegal immigrants protecting us security anyone tells core issue needs living illegally simply spent much time living washington gop presidential candidate said one core issue immigration debate issue wellbeing american people promised revamp system weed lowskilled workers compete americans impose ideological test make sure us admits believe democracy human rights illegal immigrants promised detain oust caught border vowed deport day one first hour office many 2 million illegal immigrants criminal records said hell reestablish partnerships harness local police assist nabbing illegal immigrants said criminals top priority removal president obama said anyone illegally deported reversing mr obamas policy cuts 80 percent illegal immigrants danger deportation one immune exempt enforcement said open several windows illegal immigrants seeking legal status including saying could go home apply reenter said admitted based limits hell set future dont go home said perhaps years future us gets handle problem open talking managed avoid deportation stay speech came hours met mr pena nieto emerged say mexican immigrants beyond reproach huge shift last year called mexicans rapists criminals mr trump stumbled though touched iconic promise build border wall said told mr pena nieto countries right build barriers said didnt discuss vow make mexico foot bill mr pena nieto didnt correct mr trump joint press conference later posted twitter message saying fact talk payment told mr trump front mexico wont pony trump campaign officials scrambled explain boss misleading statement though flap threatened overshadow mr trumps nighttime speech laying longawaited specifics plans tackle illegal immigration us even immigration dominated news mr trump made perhaps biggest headway mexico trade mr pena nieto saying open new negotiations updating north american free trade agreement deal ratified thenpresident bill clinton mr trump says sapped american jobs mexican leader said nafta good country us also said could revisited next president us find government partner willing build route modernize telecom become effective generate higherquality jobs betterpaying jobs countries said according official translation mr pena nieto also chided mr trump previous insults aimed mexico said two men countries get beyond mexican people felt hurt comments made sure genuine interest build relationship give societies better welfare said immigrant rights advocates werent satisfied saying trip mr trumps subsequent speech dont erase past years worth barbs mr trump aimed immigrants particularly illegal immigrants truth trump found rock hard place trying please support racism attempting moderate appearance gain support suburban voters refuse support exact reason said cesar j blanco chief latino victory fund cant ways latinos wont fooled meeting pena nieto play words immigration speech tonight mr blanco said immigration thorny political issue years mr clinton pioneered gettough approach time office signing strictest crackdown legislation modern political history wife democratic presidential nominee hillary clinton sides issue career recently tacked far left saying would deport fewer illegal immigrants president obama would try find ways get cemented american society debate comes even contours issue changing illegal immigration slowed peaks late 1990s early 2000s border patrol regularly caught million illegal crossers hundreds thousands others entered visas stayed past expiration happened hijackers involved sept 11 2001 terrorist attack 2015 border patrol caught fewer people time four decades though numbers ticked year analysts say evidence fewer people trying jump southwestern border still 1000 caught day latest trend illegal immigrants fleeing poor economies dangerous gangs central america meanwhile flow mexicans provided mass illegal immigration 1990s 2000s dissipated analysts say net zero number new mexican illegal immigrants matched older illegal immigrants going back home getting legal status us even changes 11 million illegal immigrants remain us policymakers washington spent decade grappling handle mr trump delivered conflicting messages campaign saying one point illegal immigrants go times signaling whove longest ties community could earn form legal status areas mr trump budged promising crack socalled sanctuary cities refuse cooperate deportation agents plans build wall along us mexico border republican nominee even produced policy paper laying options make mexico foot bill including docking remittances mexicans us send relatives back home imposing new tariffs mexican goods raising fees visas mexicans entering us wall politics toxic mexico however mr pena nieto said meeting told mr trump country wont pay clinton campaign said mr trumps failure solve issue first meeting mexican leader undercut entire campaign turns trump didnt choke got beat room lied said john podesta campaign chairman mr trumps campaign tried explain away discrepancy spokesman jason miller said wednesdays meeting initial gettogether would inappropriate get details wall unsurprising hold two different views issue look forward continuing conversation mr miller said mr trump showed signs backing build great wall along southern border mexico pay wall 100 percent dont know yet theyre going pay wall said copyright 2018 washington times llc click reprint permission 160 | 826 |
<p>Swiftly expanding trade ties with Cuba, the Obama administration opened the door to easier travel and a wide range of new export opportunities with the communist island starting Friday, punching the biggest hole to date in America's half-century-old embargo.</p>
<p>Less than a month after the Cold War foes agreed to end their enmity, the Commerce and Treasury departments unveiled new rules Thursday permitting U.S. citizens to visit Cuba without special permits.</p>
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<p>Most U.S. travelers still will be required to go on supervised group trips, but now virtually any U.S. company or organization can offer such trips without the paperwork and inspections that discouraged past expansion of travel to Cuba. Some tour operators, already seeing unprecedented interest in legal travel to Cuba, expect some tourists to simply ignore the restrictions.</p>
<p>American companies also now will be permitted to export telephones, computers and Internet technology, and to send supplies to private Cuban firms. However, Cuban authorities have said nothing about the restrictions they might impose on U.S. products entering a country that has long frustrated foreign investors with red tape and tapped-out infrastructure.</p>
<p>The changes are the latest step in President Barack Obama's plan to rebuild relations with Cuba after a history marred by suspicion, espionage and conflict. The new regulations come three days after U.S. officials confirmed the release of 53 political prisoners Cuba had promised to free.</p>
<p>The U.S. is now "one step closer to replacing out-of-date policies," Treasury Secretary Jacob Lew said Thursday. White House spokesman Josh Earnest said the new rules "immediately enable the American people to provide more resources to empower the Cuban population to become less dependent upon the state-driven economy."</p>
<p>They also allow U.S. citizens to start bringing home small amounts of Cuban cigars, long adored by aficionados but banned under U.S. law. The limit is $100 for alcohol and tobacco products and $400 in total goods.</p>
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<p>Only Congress can fully end the 54-year embargo. Obama announced last month he would soften the restrictions, arguing that "these 50 years have shown that isolation has not worked." The new spirit of cooperation emerged after 18 months of secret talks that culminated in the exchange of imprisoned spies and the release of Alan Gross, a U.S. government contractor who had been imprisoned in Cuba for five years.</p>
<p>The few U.S. companies facilitating travel to Cuba say inquiries have exploded since December and American visits are expected to surge this year from about 90,000 annually. "We're hiring more people. We've secured more hotel rooms and assets in Cuba to provide additional travel," said Tom Popper, president of New York-based insightCuba.</p>
<p>Hotels in Havana and elsewhere generally fall short of international standards, and those with better food and service are almost always fully booked during the winter high season. So the tourism surge could be challenging.</p>
<p>"American tourists are really demanding," said Maikel Gonzalez, a 34-year-old hotel receptionist in Havana.</p>
<p>"How do I explain to one that the taxi didn't come because it doesn't have tires or that there's no water in the rooms?"</p>
<p>Cubans also can legally rent out their homes or apartments, which could mean money outside of state control going to private citizens - something American officials say they want.</p>
<p>Most of the other possible changes now depend on Cuban President Raul Castro's government.</p>
<p>U.S. officials say American companies will have to weigh for themselves the risks of their exports colliding with Cuban bans.</p>
<p>Profitability is another issue. Foreign companies operating in Cuba currently deal almost entirely with state-owned firms that are notoriously slow, inefficient and short on cash.</p>
<p>Also casting a shadow on potential deals is the possibility of litigation by Cuban-Americans and U.S. firms whose property was confiscated in Fidel Castro's 1959 revolution. Some may sue companies entering into business with the Cuban government. In Washington, Congress may also seek to erect barriers to new investment.</p>
<p>The sudden rapprochement between Cold War foes has divided U.S. lawmakers. Republican Marco Rubio of Florida and Democrat Bob Menendez of New Jersey, both Cuban-Americans, have been particularly opposed.</p>
<p>But some business groups have welcomed the opportunity to open a new export market in a country 90 miles from Florida. Thomas Donohue, head of the U.S. Chamber of Commerce, said Wednesday it was better for the U.S. to sell computers, smartphones and cars to Cuba than to cede such business to countries like Russia and China.</p>
<p>Cuba is already awash in American products brought in people's luggage, including iPhones and flat-screen TVs. The main barriers to Internet access are high prices and restrictions imposed by a government desperate for hard currency and worried about allowing citizens unrestricted communications. It's unclear if Cuba's government has grown more comfortable providing such access.</p>
<p>Cuban officials are keen on greater travel by American tourists and the hundreds of thousands of Cuban-Americans who currently visit the island each year under a general license.</p>
<p>American officials stress that a general travel prohibition for Americans remains in force. Travelers must certify compliance with U.S. laws with airlines in advance, officials say, and investigators can demand to see records and documents up to five years after a trip is made. Infractions can incur penalties.</p>
<p>But the 12 categories of people now allowed to visit to Cuba are broad. Months after the musicians Jay-Z and Beyonce went to Havana, a Treasury Department auditor declared their trip legal under rules allowing educational travel. They visited an art school and a local theater group.</p>
<p>And cracking down on violators under the new arrangement may prove difficult.</p>
<p>"It's basically unenforceable," said John McAuliff, executive director of the Fund for Reconciliation and Development, a nongovernmental organization that organizes trips to Cuba.</p>
<p>___</p>
<p>Weissenstein reported from Havana. AP White House Correspondent Julie Pace in Washington and Associated Press writer Andrea Rodriguez in Havana contributed to this report.</p> | true | 0 | swiftly expanding trade ties cuba obama administration opened door easier travel wide range new export opportunities communist island starting friday punching biggest hole date americas halfcenturyold embargo less month cold war foes agreed end enmity commerce treasury departments unveiled new rules thursday permitting us citizens visit cuba without special permits continue reading us travelers still required go supervised group trips virtually us company organization offer trips without paperwork inspections discouraged past expansion travel cuba tour operators already seeing unprecedented interest legal travel cuba expect tourists simply ignore restrictions american companies also permitted export telephones computers internet technology send supplies private cuban firms however cuban authorities said nothing restrictions might impose us products entering country long frustrated foreign investors red tape tappedout infrastructure changes latest step president barack obamas plan rebuild relations cuba history marred suspicion espionage conflict new regulations come three days us officials confirmed release 53 political prisoners cuba promised free us one step closer replacing outofdate policies treasury secretary jacob lew said thursday white house spokesman josh earnest said new rules immediately enable american people provide resources empower cuban population become less dependent upon statedriven economy also allow us citizens start bringing home small amounts cuban cigars long adored aficionados banned us law limit 100 alcohol tobacco products 400 total goods advertisement congress fully end 54year embargo obama announced last month would soften restrictions arguing 50 years shown isolation worked new spirit cooperation emerged 18 months secret talks culminated exchange imprisoned spies release alan gross us government contractor imprisoned cuba five years us companies facilitating travel cuba say inquiries exploded since december american visits expected surge year 90000 annually hiring people weve secured hotel rooms assets cuba provide additional travel said tom popper president new yorkbased insightcuba hotels havana elsewhere generally fall short international standards better food service almost always fully booked winter high season tourism surge could challenging american tourists really demanding said maikel gonzalez 34yearold hotel receptionist havana explain one taxi didnt come doesnt tires theres water rooms cubans also legally rent homes apartments could mean money outside state control going private citizens something american officials say want possible changes depend cuban president raul castros government us officials say american companies weigh risks exports colliding cuban bans profitability another issue foreign companies operating cuba currently deal almost entirely stateowned firms notoriously slow inefficient short cash also casting shadow potential deals possibility litigation cubanamericans us firms whose property confiscated fidel castros 1959 revolution may sue companies entering business cuban government washington congress may also seek erect barriers new investment sudden rapprochement cold war foes divided us lawmakers republican marco rubio florida democrat bob menendez new jersey cubanamericans particularly opposed business groups welcomed opportunity open new export market country 90 miles florida thomas donohue head us chamber commerce said wednesday better us sell computers smartphones cars cuba cede business countries like russia china cuba already awash american products brought peoples luggage including iphones flatscreen tvs main barriers internet access high prices restrictions imposed government desperate hard currency worried allowing citizens unrestricted communications unclear cubas government grown comfortable providing access cuban officials keen greater travel american tourists hundreds thousands cubanamericans currently visit island year general license american officials stress general travel prohibition americans remains force travelers must certify compliance us laws airlines advance officials say investigators demand see records documents five years trip made infractions incur penalties 12 categories people allowed visit cuba broad months musicians jayz beyonce went havana treasury department auditor declared trip legal rules allowing educational travel visited art school local theater group cracking violators new arrangement may prove difficult basically unenforceable said john mcauliff executive director fund reconciliation development nongovernmental organization organizes trips cuba ___ weissenstein reported havana ap white house correspondent julie pace washington associated press writer andrea rodriguez havana contributed report | 628 |
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<p>RUSH: Snerdley is pointing out to me that all hell broke loose in the last 24 hours. Let me guess. I assume you’re talking about Trump’s interview in the New York Times. You’re talking about what he said about Sessions. You’re talking about the Mueller investigation. It’s getting ridiculous. And it’s just confirming everything I have thought about what’s really going on here between the establishment and Trump.</p>
<p>You know, not only is this program’s 30th anniversary coming up a week from Tuesday, today is an anniversary, folks. Today marks Donald Trump’s sixth month in office. And you know what that means? It means that it is a full, solid six months of an unhinged media conducting a full-scale coup attempt against Donald Trump. And that, to me, is the big scandal.</p>
<p>We’ve even got the news here that one of the big unmaskers is Samantha Power. “Fmr. U.N. Amb. Power Emerges As Central Figure In Obama Unmasking Investigation.” That headline’s kind of misleading. Nobody unmasked anybody in the Obama administration. What it means is, in addition to Susan Rice, Samantha Power, who was Obama’s ambassador to the United Nations. She is the freckle-faced wife of Cass Sunstein. Now, you may have heard me mention Cass Sunstein before. He’s a heralded leftist lawyer, and it is Cass Sunstein who has led the left in the belief that the Constitution is insufficient because it does not tell government what it can do.</p>
<p>Cass Sunstein is one of the leading lights, one of the leading figures in promoting the leftist view that United States Constitution is a charter of negative liberties. I’ve heard Obama use that descriptive phrase when talking about it. And what they mean — you know, the Bill of Rights, in fact, the entire Constitution — tells government what it can’t do. This is American exceptionalism, the exception to the way human beings have lived and have been forced to live since the beginning of time.</p>
<p>The United States is the first country ever in which the leaders and the government are limited by our Constitution in terms of what they can and cannot do, essentially in encroaching on the freedoms of the people. And leftists don’t like it. They don’t like that the Constitution limits government and promotes individuals. They despise it. And so they have created this idea that it is a charter of negative liberties ’cause it doesn’t spell out what government can do. It only spells out what government can’t do, thank God.</p>
<p>And that’s why so many of the left don’t like the Constitution. Obama didn’t like it. Sunstein didn’t like it. Franklin Delano Roosevelt also believed in this notion of a charter of negative liberties, and he came up with a second Bill of Rights, which was the exact opposite of the original Bill of Rights. The second Bill of Rights was specifically written to define what government could do, parentheses, in limiting and encroaching on individual liberty and freedom.</p>
<p>Anyway, Samantha Power is his wife, and she is a doctrinaire, uber-leftist. She fits the bill. She fits the stereotype of a leftist, and she fits the prototype. She is every inch a dyed-in-the-wool, incorrigible American liberal leftist, socialist or what have you. And it is she now who is said to be among the primary figures unmasking American citizens.</p>
<p>What this is, again — and I go through these things repeatedly, folks, because it’s clear now, and you can tell from calls just this week alone, we have new audience members every day here. People are tuning in for the first time. Even though our audience growth is now up to 27 million, the audience continues to expand. And as you’ve also heard, many of the new audience members come from the Millennial generation, and many of them have not heard much of this program. They’ve heard felonious, erroneous things about it.</p>
<p>The unmasking occurs when the CIA or the NSA is legally surveilling foreign individuals, such as the Russian ambassador or such as the ChiCom ambassador. This is routine. It’s part of national security. Now, during that kind of surveillance, if the Russian ambassador happens to make a phone call with an American, the American is also going to be caught on the wiretap. But the American isn’t the target.</p>
<p>So when any of these wiretaps produce active intelligence, the American participant caught up in this is supposed to be redacted and not mentioned because he or she is not the target and therefore there isn’t any real permission. The warrant that would have been sought and granted for the surveillance would not have included, in the circumstance I’m describing, the American individual. This is how Mike Flynn got caught up in all this.</p>
<p>He was talking with the Russian ambassador. He was unmasked. Meaning somebody in the intelligence community who saw a transcript of that phone call or maybe heard the audio decided to go ahead and call the media and say, “Mike Flynn said X, Y, and Z to the Russian ambassador.” That process is called unmasking the American, and it has largely been thought that many Obama administration officials, embeds remaining in the intelligence community, have been responsible for this.</p>
<p>One of the figures most likely has been thought to be Susan Rice. And now Samantha Power has emerged as one of the leading figures in this unmasking investigation. And again, she was Obama’s ambassador to the United Nations I think for the last two or three years of his second term. She’s an uber-leftist.</p>
<p>Unmasking is illegal. All of these leaks involving unmasked Americans. Those are felonies. Those are illegal. The media is printing this stuff. The media is taking this illegal information and running with it. And that is another real crime that’s not being investigated by anybody, or — well, we don’t think it is, not seriously. And that is, who are these people doing the unmasking? And the media knows. Classic illustration.</p>
<p>The media knows who’s breaking the law. The media’s benefiting from these felonies. The media is benefiting not just ideologically, but because they are part of the cabal that wants to take Trump down. I’m not surprised that Samantha Power has now been said to be at the top of the list of suspects who might be engaging in this.</p>
<p>These are activists, folks. These are dyed-in-the-wool true believers who would stop at nothing to corrupt anything in order to prevail with their ideology and their point of view. And that’s just one of the things that has featured this six-month effort by the left, by the establishment, the media, to get rid of Donald Trump. And I do think that it’s the big scandal.</p>
<p>I think the big scandal is the media knows who the felons are. The media are willing accomplices to this felonious behavior. And it may be one of the biggest scandals in our nation’s history. The only other scandal that might rival it would be the Obama administration spying on the Trump campaign, which is pretty outrageous and unprecedented too. But I kind of doubt that that’s part of this investigation.</p> | true | 0 | rush snerdley pointing hell broke loose last 24 hours let guess assume youre talking trumps interview new york times youre talking said sessions youre talking mueller investigation getting ridiculous confirming everything thought whats really going establishment trump know programs 30th anniversary coming week tuesday today anniversary folks today marks donald trumps sixth month office know means means full solid six months unhinged media conducting fullscale coup attempt donald trump big scandal weve even got news one big unmaskers samantha power fmr un amb power emerges central figure obama unmasking investigation headlines kind misleading nobody unmasked anybody obama administration means addition susan rice samantha power obamas ambassador united nations frecklefaced wife cass sunstein may heard mention cass sunstein hes heralded leftist lawyer cass sunstein led left belief constitution insufficient tell government cass sunstein one leading lights one leading figures promoting leftist view united states constitution charter negative liberties ive heard obama use descriptive phrase talking mean know bill rights fact entire constitution tells government cant american exceptionalism exception way human beings lived forced live since beginning time united states first country ever leaders government limited constitution terms essentially encroaching freedoms people leftists dont like dont like constitution limits government promotes individuals despise created idea charter negative liberties cause doesnt spell government spells government cant thank god thats many left dont like constitution obama didnt like sunstein didnt like franklin delano roosevelt also believed notion charter negative liberties came second bill rights exact opposite original bill rights second bill rights specifically written define government could parentheses limiting encroaching individual liberty freedom anyway samantha power wife doctrinaire uberleftist fits bill fits stereotype leftist fits prototype every inch dyedinthewool incorrigible american liberal leftist socialist said among primary figures unmasking american citizens go things repeatedly folks clear tell calls week alone new audience members every day people tuning first time even though audience growth 27 million audience continues expand youve also heard many new audience members come millennial generation many heard much program theyve heard felonious erroneous things unmasking occurs cia nsa legally surveilling foreign individuals russian ambassador chicom ambassador routine part national security kind surveillance russian ambassador happens make phone call american american also going caught wiretap american isnt target wiretaps produce active intelligence american participant caught supposed redacted mentioned target therefore isnt real permission warrant would sought granted surveillance would included circumstance im describing american individual mike flynn got caught talking russian ambassador unmasked meaning somebody intelligence community saw transcript phone call maybe heard audio decided go ahead call media say mike flynn said x z russian ambassador process called unmasking american largely thought many obama administration officials embeds remaining intelligence community responsible one figures likely thought susan rice samantha power emerged one leading figures unmasking investigation obamas ambassador united nations think last two three years second term shes uberleftist unmasking illegal leaks involving unmasked americans felonies illegal media printing stuff media taking illegal information running another real crime thats investigated anybody well dont think seriously people unmasking media knows classic illustration media knows whos breaking law medias benefiting felonies media benefiting ideologically part cabal wants take trump im surprised samantha power said top list suspects might engaging activists folks dyedinthewool true believers would stop nothing corrupt anything order prevail ideology point view thats one things featured sixmonth effort left establishment media get rid donald trump think big scandal think big scandal media knows felons media willing accomplices felonious behavior may one biggest scandals nations history scandal might rival would obama administration spying trump campaign pretty outrageous unprecedented kind doubt thats part investigation | 590 |
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<p>During the past 20 years, I’ve read several thousand business plans and executive summaries for angel, venture capital or business buyout investments. Unfortunately entrepreneurs make it too easy for investors who have the biggest check-writing capabilities to discard their business plans.</p>
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<p>What did these well-meaning entrepreneurs do wrong?</p>
<p>On the first read of any business plan, investors are looking for fast reasons not to invest, rather than reasons to invest. They evaluate risk then reward – in that order.</p>
<p>Yet, entrepreneurs tend to overstate the upside of a business opportunity in their written presentations. These "everything-goes-according-to-plan" presentations lack balance making it too difficult for investors to believe anything in the document. Even worse, the entrepreneur is regarded by plan readers as "unrealistic," when is the venture community equivalent of striking out at your first time to bat.</p>
<p>Here are my top 10 tips for preparing business plans that will be read by prospective investors.</p>
<p>No. 1: Prepare multiple plans. Most entrepreneurs ask if they should prepare a best-case and worst-case plan for investors. My advice is always the same – make one plan for investors of your very best work.</p>
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<p>Now here’s the exception to my own rule. Prepare a separate business plan for equity investors and a separate, more conservative, business plan for lenders. Lenders care about different measures of business success than investors. Whereas investors get their money back when a company is sold many years down the road, bankers get their money back from a company’s monthly cash flow. As such, business plans and projections prepared for lenders should emphasize risk-adverse attributes that support consistent revenue and cash flow generation. Rapid revenue and business valuation growth is less important to lender decisions.</p>
<p>No. 2: Say it fast. The first page of your executive summary should be the most concise and well-written page of your business plan; otherwise investors may not bother reading page two. State your entrepreneurial purpose clearly. The point is to get to the point. Avoid hyperbole, exclamation points and statistics that run on for pages and pages.</p>
<p>No. 3: Think like an investor. What matters to investors is more important than what matters to you. Emphasize in your executive summary and elsewhere those factors that lead to successful investment outcomes: industry-leading gross profit margins, intellectual property rights, brand extension capabilities, customer contracts, recurring revenue potential, partnerships with larger companies, etc. If you dedicate more business plan space to describing cool product features and social networking plans than standard “investment fundamentals,” then your plan probably won’t get a second look. Experienced investors invest in businesses, not hip products that can become obsolete in fast changing markets.</p>
<p>No. 4: Know your market. Investors prefer to invest in companies that operate in markets that are growing rather than shrinking. Declining customer demand for products and services only means that competitors will discount prices, which can quickly wipe out company profitability. Any market research you cite in your business plan should match where you intend to sell your products or services too. Check out industry associations, business periodicals and government reports for up-to-date statistics.</p>
<p>No. 5: Profit margin leadership. First-time fundraisers often assume that all they have to do is show a big net profit on their projected income statement to attract investors. Actually, profit margin calculations (measured in percentages) can reveal more about a company’s investment value than the net profit dollar figure. Compare your projected margins to industry averages. Are you at the high or low end of your industry in terms of financial performance? If your software company projections predict a gross profit margin of 25% and the industry average is over 60%, guess what? Your business plan is dead on arrival. No smart investor will ever willingly invest in the industry loser.</p>
<p>No. 6: Think about the unthinkable. Every business plan should describe competitive and operating risks. Candid risk disclosure doesn’t discourage investors but actually helps investors assess management’s level of “realism.” Investors always have more confidence in entrepreneurs who acknowledge the competition, rather than underestimate them in an idealistic way. &#160;To boost the competitive fire power of your plan, consider developing a separate business plan section called, “Management’s Assessment of Key Operating Risks.” Write down at least five risks that could potentially decimate your business, and then describe how you would mitigate these potential problems.</p>
<p>No. 7: Speed product development. The longer it takes to commercialize an idea on a finite amount of cash from personal savings or investment capital, the greater chance of business failure. If you want to avoid joining the one-third of new businesses that fail within the first two years of operations, then consider strategic partnerships to minimize the amount of cash and time required to achieve cash flow breakeven. Strategic partnership candidates may be a source of investment capital too.</p>
<p>No. 8: Explain your projections. I hate it when I receive extensive Excel files without any explanation of the entrepreneur’s assumptions about costs, speed of customer acquisition, personnel requirements, and other important projection variables. If projections are too cumbersome to understand, investors may give up on your projections, your plan and you. Make it easy for investors and they will continue to read.</p>
<p>Projections should be accurate too. I always test if a company’s balance sheet, income statement and working capital statement all flow together in a logical way. What’s the most common mistake I find in projections? The income statement shows a profit but the cash flow statement shows a deficit which usually means that the entrepreneur needs to recalculate the amount of capital required to succeed! Check all work and don’t point fingers at your accounting staff for stupid mistakes. If you can’t own your company’s mistakes, then investors don’t want to own any part of your company.</p>
<p>No. 9: Know your funding purpose. Better business plans include a “use of proceeds” table that summarizes how, when and possibly where investor funds will be spent. How much of the requested funds will be allocated to product development, intellectual property filings, equipment acquisitions, debt repayment, marketing, etc? Make sure your use of proceeds numbers match your projections too. Sloppy presentations indicate that entrepreneurs don’t pay attention to details.</p>
<p>No. 10: Define performance milestones. Investors are attracted to entrepreneurs who set disciplined yet manageable performance milestones. What must be accomplished and by when to be successful? Be specific, especially about management’s milestone objectives during the first 12 months post funding. Concrete milestones give investors added confidence that management is “focused” and won’t get easily side-tracked by new ideas.</p>
<p>In my coaching sessions with first-time entrepreneurs, I encourage them to focus on their strategies rather than wordsmithing to spark an enthusiasm for the task of business plan writing. It’s their road map to funding and business achievement. What’s your road map look like? What business planning pot holes are tripping you up? Write to me and let me know.</p>
<p>Susan Schreteris known as the “Big Voice for Small Business.” She is a 20-year veteran of the venture finance community and a university educator in entrepreneurship.&#160; She is the founder of <a href="http://www.takecommand.org/" type="external">www.takecommand.org</a>, a community service organization that offers the largest centralized database of startup and small business funding sources in the U.S.&#160;&#160; Follow Susan on <a href="" type="internal">Twitter</a> @TakeCommand.</p> | true | 0 | past 20 years ive read several thousand business plans executive summaries angel venture capital business buyout investments unfortunately entrepreneurs make easy investors biggest checkwriting capabilities discard business plans continue reading wellmeaning entrepreneurs wrong first read business plan investors looking fast reasons invest rather reasons invest evaluate risk reward order yet entrepreneurs tend overstate upside business opportunity written presentations everythinggoesaccordingtoplan presentations lack balance making difficult investors believe anything document even worse entrepreneur regarded plan readers unrealistic venture community equivalent striking first time bat top 10 tips preparing business plans read prospective investors 1 prepare multiple plans entrepreneurs ask prepare bestcase worstcase plan investors advice always make one plan investors best work advertisement heres exception rule prepare separate business plan equity investors separate conservative business plan lenders lenders care different measures business success investors whereas investors get money back company sold many years road bankers get money back companys monthly cash flow business plans projections prepared lenders emphasize riskadverse attributes support consistent revenue cash flow generation rapid revenue business valuation growth less important lender decisions 2 say fast first page executive summary concise wellwritten page business plan otherwise investors may bother reading page two state entrepreneurial purpose clearly point get point avoid hyperbole exclamation points statistics run pages pages 3 think like investor matters investors important matters emphasize executive summary elsewhere factors lead successful investment outcomes industryleading gross profit margins intellectual property rights brand extension capabilities customer contracts recurring revenue potential partnerships larger companies etc dedicate business plan space describing cool product features social networking plans standard investment fundamentals plan probably wont get second look experienced investors invest businesses hip products become obsolete fast changing markets 4 know market investors prefer invest companies operate markets growing rather shrinking declining customer demand products services means competitors discount prices quickly wipe company profitability market research cite business plan match intend sell products services check industry associations business periodicals government reports uptodate statistics 5 profit margin leadership firsttime fundraisers often assume show big net profit projected income statement attract investors actually profit margin calculations measured percentages reveal companys investment value net profit dollar figure compare projected margins industry averages high low end industry terms financial performance software company projections predict gross profit margin 25 industry average 60 guess business plan dead arrival smart investor ever willingly invest industry loser 6 think unthinkable every business plan describe competitive operating risks candid risk disclosure doesnt discourage investors actually helps investors assess managements level realism investors always confidence entrepreneurs acknowledge competition rather underestimate idealistic way 160to boost competitive fire power plan consider developing separate business plan section called managements assessment key operating risks write least five risks could potentially decimate business describe would mitigate potential problems 7 speed product development longer takes commercialize idea finite amount cash personal savings investment capital greater chance business failure want avoid joining onethird new businesses fail within first two years operations consider strategic partnerships minimize amount cash time required achieve cash flow breakeven strategic partnership candidates may source investment capital 8 explain projections hate receive extensive excel files without explanation entrepreneurs assumptions costs speed customer acquisition personnel requirements important projection variables projections cumbersome understand investors may give projections plan make easy investors continue read projections accurate always test companys balance sheet income statement working capital statement flow together logical way whats common mistake find projections income statement shows profit cash flow statement shows deficit usually means entrepreneur needs recalculate amount capital required succeed check work dont point fingers accounting staff stupid mistakes cant companys mistakes investors dont want part company 9 know funding purpose better business plans include use proceeds table summarizes possibly investor funds spent much requested funds allocated product development intellectual property filings equipment acquisitions debt repayment marketing etc make sure use proceeds numbers match projections sloppy presentations indicate entrepreneurs dont pay attention details 10 define performance milestones investors attracted entrepreneurs set disciplined yet manageable performance milestones must accomplished successful specific especially managements milestone objectives first 12 months post funding concrete milestones give investors added confidence management focused wont get easily sidetracked new ideas coaching sessions firsttime entrepreneurs encourage focus strategies rather wordsmithing spark enthusiasm task business plan writing road map funding business achievement whats road map look like business planning pot holes tripping write let know susan schreteris known big voice small business 20year veteran venture finance community university educator entrepreneurship160 founder wwwtakecommandorg community service organization offers largest centralized database startup small business funding sources us160160 follow susan twitter takecommand | 741 |
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<p>Recent cyber attacks harnessing everyday devices such as cameras, video recorders, printers, routers and speakers are a wake-up call to the hidden dangers of the Internet of Things.</p>
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<p>The problem for the device makers, though, is that few are well equipped to tackle the unfamiliar task of foiling hackers.</p>
<p>For a sense of that challenge, take AV Tech Corp, a once proud giant among CCTV camera makers whose 1990s building in a Taipei suburb hints at the gap it must overcome between hardware factories of a decade ago and those of today.</p>
<p>AV Tech, which made the 2008 Forbes list of companies to watch, has seen competition from China shrink its profits to about a tenth of what they were then. Like its peers, AV Tech has moved its products online, connecting its cameras and the digital video recorders that store the footage on to the Internet so users can access them remotely.��</p>
<p>But such companies are not well schooled in cyber security, leaving these devices wide open to hackers.</p>
<p>"The harsh reality is that cyber security is not even on the radar of many manufacturers," said Trent Telford, CEO of Covata , an internet security firm. "Security will eventually become more of a priority, but it may well be too late for this generation of IoT users."</p>
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<p>Up to 30 billion devices are expected to be connected to the Internet by 2020 - all potentially vulnerable.</p>
<p>The danger was highlighted when hundreds of thousands of consumer devices were harnessed recently into so-called botnets, launching attacks on target websites, including PayPal , Spotify and Twitter .</p>
<p>Cyber security experts say this is just the beginning.</p>
<p>They have since found new versions of the malware designed to find and infect poorly secured devices. Botnets could also be used in advertising fraud and blackmail, according to Daniel Miessler of IOActive, an internet security consultancy.</p>
<p>Flashpoint, a cyber security consultancy, said parts of the botnet used in last month's mass attack were used this week to launch denial of service attacks on the campaign websites of both U.S. presidential candidates, though neither site appeared to have been knocked offline.</p>
<p>VULNERABLE</p>
<p>While researchers have not found any AV Tech devices in a botnet, they have pointed to lapses that make them vulnerable.</p>
<p>In a blog post, confirmed by his company, Gergely Eberhardt of Hungarian security firm Search-Lab said he spent a year trying to alert AV Tech to 14 security holes in its products. He got no response, and last month released his findings.</p>
<p>That, and news of other botnet distributed denial of services attacks, was a wake-up call for the Taiwanese firm.</p>
<p>"To be honest, in the past, hacking and��discovering such matters was not an issue for AV Tech," said Dick Lee, special assistant in the company president's office. "This experience has significantly raised our alert level internally. This is something that those in the surveillance equipment business must face seriously."</p>
<p>That's happening, but slowly - and sometimes reluctantly.</p>
<p>Chinese camera maker Hangzhou Xiongmai Technology Co recalled thousands of its devices after researchers said they may have formed part of the botnet that took down Twitter and other websites, but it also threatened legal action against those defaming the company.</p>
<p>SECURITY FOCUS</p>
<p>Chipmaker Qualcomm said it was looking into new technologies, including those based on machine intelligence, to make IoT devices safer.</p>
<p>"We can build into the hardware certain fundamental things that will watch to see: is the device doing something it wasn't expected to do? Is it talking to somewhere it wasn't expected to talk to? Is it accessing memory differently?" executive chairman Paul Jacobs told Reuters on the sidelines of an event in Taipei on Monday. "It's very important for IoT to make sure you have a way of securing and updating devices."</p>
<p>AV Tech said it was talking to Search-Lab and other security firms about long-term cooperation, and also plans to release updated firmware - software that upgrades the inner workings of its devices to make them more secure.</p>
<p>It's not just the more established consumer electronics firms which are battling this.</p>
<p>Lani Refiti, cyber security lead for Cisco Systems Inc , said he has been working with Australian hardware start-ups to make their devices more secure.</p>
<p>One firm making sensors to allow treadmill users to share their workouts, he said, faced a three-month delay if it rewrote software to properly encrypt data. The cheaper solution was to obscure the data, and make any hacker work harder to crack it.</p>
<p>A handful of industry groups are emerging to focus exclusively on security.</p>
<p>Refiti set up IoTSec Australia this year to work with entrepreneurs, while UK-based IoT Security Foundation has chipmaker ARM, Huawei [HWT.UL] and Philips among its members.</p>
<p>Its main goal, says founder John Moor, is to simplify guidance so engineers actually read it. The foundation is releasing its first best-practice manual, condensing a 300-400 page industry document to just 30 pages.</p>
<p>"The challenge is more than the technical challenge" for these companies, said Moor. "You can put in security features, but do you have the right processes in place, are you doing the right things?"</p>
<p>For AV Tech, improved security may prove to be a way to differentiate its products from Chinese competition.</p>
<p>"This is a good opportunity. For these surveillance products, the demand on their security is the most important," said Lee, adding the inevitable higher cost "is not expected to be huge."</p>
<p>(Reporting by Jeremy Wagstaff and J.R. Wu, with additional reporting by Sijia Jiang in HONG KONG; Editing by Ian Geoghegan)</p> | true | 0 | recent cyber attacks harnessing everyday devices cameras video recorders printers routers speakers wakeup call hidden dangers internet things continue reading problem device makers though well equipped tackle unfamiliar task foiling hackers sense challenge take av tech corp proud giant among cctv camera makers whose 1990s building taipei suburb hints gap must overcome hardware factories decade ago today av tech made 2008 forbes list companies watch seen competition china shrink profits tenth like peers av tech moved products online connecting cameras digital video recorders store footage internet users access remotely companies well schooled cyber security leaving devices wide open hackers harsh reality cyber security even radar many manufacturers said trent telford ceo covata internet security firm security eventually become priority may well late generation iot users advertisement 30 billion devices expected connected internet 2020 potentially vulnerable danger highlighted hundreds thousands consumer devices harnessed recently socalled botnets launching attacks target websites including paypal spotify twitter cyber security experts say beginning since found new versions malware designed find infect poorly secured devices botnets could also used advertising fraud blackmail according daniel miessler ioactive internet security consultancy flashpoint cyber security consultancy said parts botnet used last months mass attack used week launch denial service attacks campaign websites us presidential candidates though neither site appeared knocked offline vulnerable researchers found av tech devices botnet pointed lapses make vulnerable blog post confirmed company gergely eberhardt hungarian security firm searchlab said spent year trying alert av tech 14 security holes products got response last month released findings news botnet distributed denial services attacks wakeup call taiwanese firm honest past hacking anddiscovering matters issue av tech said dick lee special assistant company presidents office experience significantly raised alert level internally something surveillance equipment business must face seriously thats happening slowly sometimes reluctantly chinese camera maker hangzhou xiongmai technology co recalled thousands devices researchers said may formed part botnet took twitter websites also threatened legal action defaming company security focus chipmaker qualcomm said looking new technologies including based machine intelligence make iot devices safer build hardware certain fundamental things watch see device something wasnt expected talking somewhere wasnt expected talk accessing memory differently executive chairman paul jacobs told reuters sidelines event taipei monday important iot make sure way securing updating devices av tech said talking searchlab security firms longterm cooperation also plans release updated firmware software upgrades inner workings devices make secure established consumer electronics firms battling lani refiti cyber security lead cisco systems inc said working australian hardware startups make devices secure one firm making sensors allow treadmill users share workouts said faced threemonth delay rewrote software properly encrypt data cheaper solution obscure data make hacker work harder crack handful industry groups emerging focus exclusively security refiti set iotsec australia year work entrepreneurs ukbased iot security foundation chipmaker arm huawei hwtul philips among members main goal says founder john moor simplify guidance engineers actually read foundation releasing first bestpractice manual condensing 300400 page industry document 30 pages challenge technical challenge companies said moor put security features right processes place right things av tech improved security may prove way differentiate products chinese competition good opportunity surveillance products demand security important said lee adding inevitable higher cost expected huge reporting jeremy wagstaff jr wu additional reporting sijia jiang hong kong editing ian geoghegan | 543 |
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<p>Someone being transferred for work or making a major move for personal reasons may end up selling in one market and buying in another. The ideal scenario would be to sell in a <a href="http://www.zillow.com/blog/buyer-seller-index-fall-2014-160151/" type="external">sellers’ market</a>, like the San Francisco Bay area or Seattle, and buy in a buyers’&#160;market, such as Providence, RI. The worst-case scenario is to do the opposite.</p>
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<p>Here are some tips for buyers and sellers in any market.</p>
<p>Know before you go</p>
<p>The days of a national estate market are gone. Today, markets vary by state, town, city and even block by block. But most people don’t realize this. So it’s important to start by researching the hyper-local market of the town or neighborhood that interests you. Read local blogs. Watch the number of days a home is on the market. Understand the sale price to list price ratio in the town where you’re buying. Upfront research can save you a lot of time and headaches. Plus, you don’t want to rely entirely on your real estate agent to tell you about that market. Get informed on your own.</p>
<p>How to sell in a buyers’ market</p>
<p>Selling your home in a buyers’ market can subject you to a harsh reality. Your market could be slow due to a high level of inventory, low demand from buyers or simply slow economic times.</p>
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<p>If you need to sell in a buyers’ market, put your best foot forward from the start. Make sure your home is priced to sell. You may not have the luxury of waiting for six months to test the market. Homes will sell, no matter the market, when priced right.</p>
<p>Spend days or weeks removing junk and prepping your home for the market. You’ll have to pack up when you move anyhow, so it makes sense to start packing before you even list your home. Not only will it save time later, but it will help thin out the house, make more space available and help the home show better during open houses. Strongly consider any suggestions your agent makes for slight cosmetic fixes or staging.</p>
<p>How to buy in a buyers’ market</p>
<p>Who doesn’t love being a buyer in a buyers’ market?&#160;You have lots to choose from and the full attention of sellers.</p>
<p>Take your time to see as many homes as possible to get the lay of the land. Focus on the most motivated sellers, as this is where you may uncover the best values. If a handful of homes meet your needs, ask questions such as: Why is the seller selling? What is the seller’s time frame for moving? How long has the seller lived in the home? You can ask these questions through your agent or by asking the seller’s agent directly.</p>
<p>The more you ask, the more you may uncover just who is the most motivated seller. Be open to taking on some renovation work, because that can add value to the property. The market will eventually turn, and there’s no better feeling than knowing that you bought low, with some bonus equity.</p>
<p>How to sell in a sellers’ market</p>
<p>Along the West Coast, sellers are being overwhelmed with buyers at <a href="http://www.zillow.com/blog/tag/open-houses/" type="external">open houses</a> and private showings. Demand is high, and things are moving quickly. But you still have to work at selling. If you don’t clean the home or present it to the market in its best possible light, you may leave money on the table for the buyer who is desperate for a “deal.”</p>
<p>If you have the luxury of receiving <a href="http://www.zillow.com/blog/tag/multiple-offers/" type="external">multiple offers</a>, focus on the best buyer and the best terms and not so much on the bottom line. You want the buyer who is going to close. The last thing you want is to have to go back on the market. When this happens, everyone will wonder what’s wrong with your home.</p>
<p>It could be that the buyer got cold feet or remorse. If you aren’t sure who is the best buyer, ask your agent. The best buyer is the one who has seen the home multiple times, is <a href="http://www.zillow.com/pre-approval/" type="external">pre-approved for a loan</a>, has been in the market and has even lost out on recent home sales. This buyer is working with a local agent and committed to buying. Your agent will know who they are.</p>
<p>How to buy in a sellers’ market</p>
<p>Buyers in a sellers’ market find themselves frustrated over a lack of inventory and homes that sell quickly. The competition is fierce, and they need to invest a good part of their time on buying a home.</p>
<p>For a serious buyer, then, finding a home becomes a part-time job. Have your ducks in a row and your team in place. Work closely with a good local agent and a local mortgage pro. When a home hits the market, get in ASAP. Don’t wait for the open house, because a more aggressive buyer might get in and take it away before you do.</p>
<p>When competing with other buyers, have your inspections and do as much <a href="http://www.zillow.com/blog/what-is-real-estate-due-diligence-103022/" type="external">due diligence</a> as you can before making an offer. An offer with swift, few or no contingencies is music to the sellers’ ear. They want to be sure the deal will close for the most money as quickly as possible. Find out what the sellers want and give it to them.</p>
<p>Reducing the stress of buying and selling</p>
<p>Today’s younger buyers and sellers, enabled by the global economy and the Internet, can live anywhere and move around multiple times in a short period of time. For them, as well as everyone else, understanding that all real estate markets are different, requiring different approaches, is always the first step toward success.</p>
<p>After that, it’s important to plan well in advance. Buying and selling real estate can be extremely stressful. Approaching each transaction methodically, and with as much advance planning as possible, can help relieve some of that stress.</p>
<p>More From Zillow.com:</p>
<p><a href="http://www.zillow.com/blog/buyer-seller-index-fall-2014-160151/" type="external">Top Metros for Buyers and Sellers</a> <a href="http://www.zillow.com/blog/moving-on-after-offer-rejected-159263/" type="external">Seller Won’t Negotiate: Time to Move On?</a> <a href="http://www.zillow.com/blog/how-to-buy-a-flipped-house-157539/" type="external">How to Buy a Flipped House</a></p>
<p>Brendon DeSimone is the author of " <a href="http://www.amazon.com/Next-Generation-Estate-Brendon-DeSimone-ebook/dp/B00HZ4DZ2E" type="external">Next Generation Real Estate: New Rules for Smarter Home Buying &amp; Faster Selling</a>," the go-to insider’s guide for navigating and better understanding the complex and ever-evolving world of buying and selling a home. DeSimone is the founder and principal of DeSimone &amp; Co, an independent&#160; <a href="http://www.brendondesimone.com/real-estate-nyc/" type="external">NYC real estate</a>brokerage providing individualized services and a fresh, hands-on approach. Bringing more than a decade of residential real estate experience, DeSimone is a recognized national real estate expert and has appeared on top media outlets including CNBC, Good Morning America, HGTV, FOX News, Bloomberg and FOX Business. Consumers often call on Brendon for advice and to help them&#160; <a href="http://www.brendondesimone.com/how-to-find-a-real-estate-agent/" type="external">find a real estate agent</a>. You can follow him on&#160; <a href="http://www.twitter.com/brendondesimone" type="external">Twitter</a>&#160;or&#160; <a href="https://plus.google.com/107245760115680999593" type="external">Google Plus</a>.</p> | true | 0 | someone transferred work making major move personal reasons may end selling one market buying another ideal scenario would sell sellers market like san francisco bay area seattle buy buyers160market providence ri worstcase scenario opposite continue reading tips buyers sellers market know go days national estate market gone today markets vary state town city even block block people dont realize important start researching hyperlocal market town neighborhood interests read local blogs watch number days home market understand sale price list price ratio town youre buying upfront research save lot time headaches plus dont want rely entirely real estate agent tell market get informed sell buyers market selling home buyers market subject harsh reality market could slow due high level inventory low demand buyers simply slow economic times advertisement need sell buyers market put best foot forward start make sure home priced sell may luxury waiting six months test market homes sell matter market priced right spend days weeks removing junk prepping home market youll pack move anyhow makes sense start packing even list home save time later help thin house make space available help home show better open houses strongly consider suggestions agent makes slight cosmetic fixes staging buy buyers market doesnt love buyer buyers market160you lots choose full attention sellers take time see many homes possible get lay land focus motivated sellers may uncover best values handful homes meet needs ask questions seller selling sellers time frame moving long seller lived home ask questions agent asking sellers agent directly ask may uncover motivated seller open taking renovation work add value property market eventually turn theres better feeling knowing bought low bonus equity sell sellers market along west coast sellers overwhelmed buyers open houses private showings demand high things moving quickly still work selling dont clean home present market best possible light may leave money table buyer desperate deal luxury receiving multiple offers focus best buyer best terms much bottom line want buyer going close last thing want go back market happens everyone wonder whats wrong home could buyer got cold feet remorse arent sure best buyer ask agent best buyer one seen home multiple times preapproved loan market even lost recent home sales buyer working local agent committed buying agent know buy sellers market buyers sellers market find frustrated lack inventory homes sell quickly competition fierce need invest good part time buying home serious buyer finding home becomes parttime job ducks row team place work closely good local agent local mortgage pro home hits market get asap dont wait open house aggressive buyer might get take away competing buyers inspections much due diligence making offer offer swift contingencies music sellers ear want sure deal close money quickly possible find sellers want give reducing stress buying selling todays younger buyers sellers enabled global economy internet live anywhere move around multiple times short period time well everyone else understanding real estate markets different requiring different approaches always first step toward success important plan well advance buying selling real estate extremely stressful approaching transaction methodically much advance planning possible help relieve stress zillowcom top metros buyers sellers seller wont negotiate time move buy flipped house brendon desimone author next generation real estate new rules smarter home buying amp faster selling goto insiders guide navigating better understanding complex everevolving world buying selling home desimone founder principal desimone amp co independent160 nyc real estatebrokerage providing individualized services fresh handson approach bringing decade residential real estate experience desimone recognized national real estate expert appeared top media outlets including cnbc good morning america hgtv fox news bloomberg fox business consumers often call brendon advice help them160 find real estate agent follow on160 twitter160or160 google plus | 608 |
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<p>3D Systems Corporation (NYSE: DDD) reported its third-quarter 2016 results on Thursday, Nov. 3. The diversified 3D printing company's year-over-year revenue increased 3.2%, to $156.4 million. <a href="http://www.fool.com/knowledge-center/importance-of-accounting-principles-for-wiki.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">GAAP Opens a New Window.</a> loss per share narrowed to $0.19 from $0.29 in the year-ago period, while adjusted earnings per share jumped to $0.14 from $0.01 in the year-ago period.</p>
<p>Continue Reading Below</p>
<p>Though the report contained some bright spots, including in healthcare and materials, 3D Systems continued to struggle to grow 3D printer revenue -- it declined 6% year over year in the quarter -- due to the slowdown in demand for enterprise 3D printers that began in early 2015, which has also affected its rival, Stratasys.</p>
<p>Earnings releases usually don't provide much color about a company's performance or future prospects, but management often shares a wealth of information in the analyst conference calls following these releases. Here are two key topics that you should know about from 3D Systems' Q3 call.</p>
<p>Image source: 3D Systems.</p>
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<p>From CEO Vyomesh Joshi's remarks:</p>
<p>As to the 3D printers that Joshi said are being discontinued, the CubePro is a desktop model aimed at professional users, the CubeJet is a higher-end consumer desktop model, and the ProX 400 is an enterprise-focused direct-metal 3D printer. Project Atlas refers to the high-speed 3D printing racetrack platform that 3D Systems was initially developing as partner to Alphabet's Googleon Project Ara. After Google decided in late 2014 not to use 3D printing in Project Ara to produce customized components for modular cellphones, 3D Systems had said it still planned to go on with the platform's development.</p>
<p>Pulling the plug on the entire Cube line is long overdue, in my view, as the consumer market just is not ready for prime time. 3D Systems discontinued its entry-level consumer model, the Cube, in December 2015. I'd venture to guess the ProX 400, launched in late 2014, is being discontinued because it likely had quality and performance issues. Throughout last year, 3D Systems experienced quality and performance issues involving several nylon and metal 3D printers.</p>
<p>Joshi mentioned that the company will be redirecting resources into advancing its metal 3D printing line and Figure 4. Figure 4 -- which was introduced earlier this year, but is still under development -- is a robotic, modular, stereolithography (SLA) 3D printing system designed for the production of plastic parts. It's akey component of 3D Systems' strategy to capitalize on 3D printing's shift from being a primarily prototyping technology to one that's used in more manufacturing applications. The company claims that Figure 4 is up to 50 times faster than conventional SLA 3D printing systems.</p>
<p>This redirecting of resources is a good plan, in my opinion. It remains to be seen how well the company will execute, as it has struggled in the execution department for quite some time. To be fair, however, the execution issues were under the former top management team: The company's CEO and CFO are both new in 2016.</p>
<p>Here's what Joshi said when an analyst asked, "[W]hat is your metals revenue currently or what level could it be in 2017?"</p>
<p>The analyst followed up by asking Joshi if it was fair to say that the metals business was "still sub 10%" of the company's revenue. Joshi declined to answer, so I think it's probably safe to say that it does still account for less than 10%. If it had grown to be greater than this -- we know it accounted for about 6% of total revenue in 2014 -- Joshi probably would have been happy to point this out.</p>
<p>After its move into metal 3D printing via its July 2013 acquisition of Phenix Systems, 3D Systems initially provided growth and total revenue updates on its metals business in its quarterly earnings reports. Early progress was encouraging, withthe company's 2014 metal-printing revenue growing 175% on a year-over-year pro forma basis, to $39 million, or about 6% of total 2014 revenue.</p>
<p>Last year, 3D Systems experienced quality and performance issues with its metal 3D printer line. Perhaps not surprisingly, management stopped providing updates as to how the metal 3D printing business was performing. One can't blame the new top management team for playing their cards close to their chest for now, but investors and potential investors should expect at least a little color on the metal 3D printing business in the next quarter or two. When the company reports Q4 results in late February or early March, Joshi will have been CEO for just shy of one year.</p>
<p>In short, 3D Systems appears to be making some positive changes, and there were some bright spots in the Q3 report, but in order for the company to remain a dominant player in the 3D printing industry, investors eventuallyneed to be demanding -- as per the iconic line from Jerry Maguire,with a twist -- "Show me the money from 3D printer sales growth!"</p>
<p>10 stocks we like better than 3D Systems 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=880d1dab-e98c-4dfd-8259-ce7f85a32463&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 3D Systems 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=880d1dab-e98c-4dfd-8259-ce7f85a32463&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 November 7, 2016</p>
<p>Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. <a href="http://my.fool.com/profile/TMFMcKenna/info.aspx" type="external">Beth McKenna Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A and C shares). The Motley Fool recommends 3D Systems and Stratasys. 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 | 3d systems corporation nyse ddd reported thirdquarter 2016 results thursday nov 3 diversified 3d printing companys yearoveryear revenue increased 32 1564 million gaap opens new window loss per share narrowed 019 029 yearago period adjusted earnings per share jumped 014 001 yearago period continue reading though report contained bright spots including healthcare materials 3d systems continued struggle grow 3d printer revenue declined 6 year year quarter due slowdown demand enterprise 3d printers began early 2015 also affected rival stratasys earnings releases usually dont provide much color companys performance future prospects management often shares wealth information analyst conference calls following releases two key topics know 3d systems q3 call image source 3d systems advertisement ceo vyomesh joshis remarks 3d printers joshi said discontinued cubepro desktop model aimed professional users cubejet higherend consumer desktop model prox 400 enterprisefocused directmetal 3d printer project atlas refers highspeed 3d printing racetrack platform 3d systems initially developing partner alphabets googleon project ara google decided late 2014 use 3d printing project ara produce customized components modular cellphones 3d systems said still planned go platforms development pulling plug entire cube line long overdue view consumer market ready prime time 3d systems discontinued entrylevel consumer model cube december 2015 id venture guess prox 400 launched late 2014 discontinued likely quality performance issues throughout last year 3d systems experienced quality performance issues involving several nylon metal 3d printers joshi mentioned company redirecting resources advancing metal 3d printing line figure 4 figure 4 introduced earlier year still development robotic modular stereolithography sla 3d printing system designed production plastic parts akey component 3d systems strategy capitalize 3d printings shift primarily prototyping technology one thats used manufacturing applications company claims figure 4 50 times faster conventional sla 3d printing systems redirecting resources good plan opinion remains seen well company execute struggled execution department quite time fair however execution issues former top management team companys ceo cfo new 2016 heres joshi said analyst asked metals revenue currently level could 2017 analyst followed asking joshi fair say metals business still sub 10 companys revenue joshi declined answer think probably safe say still account less 10 grown greater know accounted 6 total revenue 2014 joshi probably would happy point move metal 3d printing via july 2013 acquisition phenix systems 3d systems initially provided growth total revenue updates metals business quarterly earnings reports early progress encouraging withthe companys 2014 metalprinting revenue growing 175 yearoveryear pro forma basis 39 million 6 total 2014 revenue last year 3d systems experienced quality performance issues metal 3d printer line perhaps surprisingly management stopped providing updates metal 3d printing business performing one cant blame new top management team playing cards close chest investors potential investors expect least little color metal 3d printing business next quarter two company reports q4 results late february early march joshi ceo shy one year short 3d systems appears making positive changes bright spots q3 report order company remain dominant player 3d printing industry investors eventuallyneed demanding per iconic line jerry maguirewith twist show money 3d printer sales growth 10 stocks like better 3d systems investing geniuses david tom gardner stock tip pay listen newsletter run decade motley fool stock advisor tripled market david tom revealed believe ten best stocks opens new window investors buy right 3d systems wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns november 7 2016 suzanne frey executive alphabet member motley fools board directors beth mckenna opens new window position stocks mentioned motley fool owns shares recommends alphabet c shares motley fool recommends 3d systems stratasys 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 | 626 |
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<p>Whether you don't want to put a lot of miles on your family car or are flying and need transportation when you arrive, renting a car makes sense. In the spirit of family getaways as a warm-weather tradition, Bankrate assembled the seven best rental cars for summer vacation.</p>
<p>Continue Reading Below</p>
<p>Because daily rental costs vary wildly based on the rental company, location and season of the year, rental rates didn't factor into the picks. Bankrate advises shopping around among rental companies for the best deal. Each pick, though, received the Insurance Institute for Highway Safety's highest crash-test score of "good" in crash tests. All are also an IIHS "top safety pick."</p>
<p>Comfort is a key requirement for any vacation vehicle. Each of these picks earned a rating of "good" or better from the testers at Consumer Reports for ride quality and interior noise, as well as front-seat and rear-seat comfort.</p>
<p>Finally, Bankrate considered fuel economy as estimated by the Environmental Protection Agency. All provide very good mileage for their size. The EPA-estimated miles per gallon are based on 2013 models with automatic transmissions.</p>
<p>Rental car companies have their own methods for defining compact, midsize or large. Sometimes, this involves making customers think they are getting more car than they are. Bankrate used EPA classifications. Bankrate also included at least one rental company offering each car.</p>
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<p>Toyota Corolla</p>
<p>Type: compact &#160;&#160;&#160;Passengers: five &#160;&#160;&#160;Rental companies: Hertz and Enterprise &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 26 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 34</p>
<p>As simple, straightforward transportation, the Corolla offers controls and systems that won't confound drivers unfamiliar with their operation -- an important point for renters. Thanks to a tilt-and-telescoping steering wheel and six-way adjustable driver's seat, finding a comfortable driving position isn't difficult for most. A well-rounded sedan, it delivers decent fuel economy combined with a Consumer Reports rating of "very good" for ride quality, noise and front-seat comfort. A 132-horsepower, 1.8-liter, four-cylinder engine and four-speed automatic transmission deliver adequate performance for typical vacation duties.</p>
<p>Toyota loaded the Corolla with all sorts of storage cubbies, as well as 20-ounce bottle holders in all four doors. The 60/40 split-folding rear seat provides extra cargo room. An auxiliary audio input jack allows the use of iPods and other personal music devices.</p>
<p>Volkswagen Jetta TDI</p>
<p>Type: compact &#160;&#160;&#160;Passengers: five &#160;&#160;&#160;Rental companies: Hertz &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 30 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 42</p>
<p>Earning big points for the Jetta TDI is its high-mileage, turbocharged, 2-liter, four-cylinder, clean-diesel engine that develops 140 horsepower. A driver-shiftable, six-speed automatic transmission drives the front wheels. Fun to drive, it cruises effortlessly on the freeway yet shines on curvy mountain roads.</p>
<p>Rear-seat passengers will appreciate the Jetta's surprising amount of rear legroom -- nearly 5 inches more than a Mercedes-Benz C-Class sedan. Consumer Reports rated rear-seat comfort along with ride quality and front-seat comfort as "very good." If not needed for passengers, sections of the 60/40 split-folding rear seat can be collapsed for additional cargo capacity.</p>
<p>All controls are intuitive and simple to operate from the get-go. The six-speaker audio system has iPod integration.</p>
<p>Ford Focus</p>
<p>Type: compact &#160;&#160;&#160;Passengers: five &#160;&#160;&#160;Rental companies: Hertz, Avis and Budget &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 28 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 38</p>
<p>Depending on the company, you will find the Focus as either sedan or hatchback rental cars. Although there are some differences in terms of cargo space -- the sedan has plenty, but the hatchback has considerably more -- the two styles are much more alike than different.</p>
<p>A responsive 160-horsepower, 2-liter, four-cylinder engine turns the front wheels via a driver-shiftable, six-speed automatic transmission. Consumer Reports assigned ratings of "very good" to its ride quality, noise and front-seat comfort.</p>
<p>Because of its highly stylized exterior and interior, the Focus doesn't look or feel much like a rental car. The interior is particularly good looking. Most controls are simple to operate, even for a first-time user. The cabin is exceptionally quiet.</p>
<p>Nissan Altima</p>
<p>Type: full-size &#160;&#160;&#160;Passengers: five &#160;&#160;&#160;Rental companies: Hertz, Avis, Enterprise and Budget &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 27 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 38</p>
<p>You will find both two-door and four-door versions of the Altima as rental cars. If your rental needs include transporting more than two people, you will probably want four doors.</p>
<p>Renters unfamiliar with a continuously variable transmission will need to adjust to the absence of shifting in the Altima, which uses a CVT to usher output from the 182-horsepower, 2.5-liter, four-cylinder engine to the front wheels. Nimble, easy to handle and redesigned for 2013, the Altima is well-suited for long freeway rambles and crowded city streets.</p>
<p>Consumer Reports rated ride quality, noise, and front- and rear-seat comfort as "very good." Consumer Reports also awarded a "very good" for the Altima's cargo space. NASA helped design the front bucket seats for improved comfort over long distances.</p>
<p>Cadillac XTS</p>
<p>Type: luxury &#160;&#160;&#160;Passengers: five &#160;&#160;&#160;Rental companies: Avis and Budget &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 17 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 28</p>
<p>Fuel economy isn't as good with the XTS as the smaller cars on this list, but it is also the only sedan using a V-6 for its get up and go. Generating 304 horsepower from a 3.6-liter V-6, the XTS is armed with a driver-shiftable, six-speed automatic transmission to turn the front wheels.</p>
<p>The largest car in Cadillac's stable, the XTS has a cabin that is positively cavernous. Consumer Reports rated noise and front-seat comfort as "excellent." Ride quality, rear-seat comfort and cargo space all received "very good."</p>
<p>Built for touring, this sedan will leave you feeling as refreshed after a six-hour jaunt as when you started. Dual-zone automatic climate control and a Bose audio system with iPod connectivity are part of the package.</p>
<p>Dodge Grand Caravan</p>
<p>Type: minivan &#160;&#160;&#160;Passengers: seven &#160;&#160;&#160;Rental companies: Avis, Hertz and Enterprise &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 17 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 25</p>
<p>Apparently the minivan workhorse of the rental companies, the Grand Caravan is a remarkable blend of passenger/cargo-carrying capacity, convenience and comfort. Consumer Reports scored it as "very good" in ride comfort, noise, front- and rear-seat comfort, and cargo space. It's tough to beat when you need to carry several passengers and their luggage.</p>
<p>Under the hood is a 283-horsepower, 3.6-liter V-6. A driver-shiftable, six-speed automatic transmission ushers the power to the front wheels.</p>
<p>You won't find a lot of bells and whistles on Grand Caravan rentals, but all will have second-row as well as third-row seats that easily fold flat into the floor, remote keyless entry and seven air bags.</p>
<p>Chevrolet Traverse</p>
<p>Type: standard SUV &#160;&#160;&#160;Passengers: seven &#160;&#160;&#160;Rental companies: Avis and Hertz &#160;&#160;&#160;Gas mileage: &#160;&#160;&#160;&#160;&#160;&#160;&#160;City - 17 &#160;&#160;&#160;&#160;&#160;&#160;&#160;Highway - 24</p>
<p>The EPA calls the Traverse a "standard" SUV, but you may think of it as a large crossover. Still, the Traverse has room for seven and comes with a 3.6-liter, 288-horsepower, V-6 engine with a six-speed automatic transmission.</p>
<p>Consumer Reports rated the Traverse as "very good" in all measures that Bankrate considered in assembling this list. Among its air bags is a first-ever front-center side air bag that inflates between front-seat occupants for added protection in a side-impact crash.</p>
<p>Providing a car-like ride, the Traverse is a terrific choice for longer road trips.</p> | true | 0 | whether dont want put lot miles family car flying need transportation arrive renting car makes sense spirit family getaways warmweather tradition bankrate assembled seven best rental cars summer vacation continue reading daily rental costs vary wildly based rental company location season year rental rates didnt factor picks bankrate advises shopping around among rental companies best deal pick though received insurance institute highway safetys highest crashtest score good crash tests also iihs top safety pick comfort key requirement vacation vehicle picks earned rating good better testers consumer reports ride quality interior noise well frontseat rearseat comfort finally bankrate considered fuel economy estimated environmental protection agency provide good mileage size epaestimated miles per gallon based 2013 models automatic transmissions rental car companies methods defining compact midsize large sometimes involves making customers think getting car bankrate used epa classifications bankrate also included least one rental company offering car advertisement toyota corolla type compact 160160160passengers five 160160160rental companies hertz enterprise 160160160gas mileage 160160160160160160160city 26 160160160160160160160highway 34 simple straightforward transportation corolla offers controls systems wont confound drivers unfamiliar operation important point renters thanks tiltandtelescoping steering wheel sixway adjustable drivers seat finding comfortable driving position isnt difficult wellrounded sedan delivers decent fuel economy combined consumer reports rating good ride quality noise frontseat comfort 132horsepower 18liter fourcylinder engine fourspeed automatic transmission deliver adequate performance typical vacation duties toyota loaded corolla sorts storage cubbies well 20ounce bottle holders four doors 6040 splitfolding rear seat provides extra cargo room auxiliary audio input jack allows use ipods personal music devices volkswagen jetta tdi type compact 160160160passengers five 160160160rental companies hertz 160160160gas mileage 160160160160160160160city 30 160160160160160160160highway 42 earning big points jetta tdi highmileage turbocharged 2liter fourcylinder cleandiesel engine develops 140 horsepower drivershiftable sixspeed automatic transmission drives front wheels fun drive cruises effortlessly freeway yet shines curvy mountain roads rearseat passengers appreciate jettas surprising amount rear legroom nearly 5 inches mercedesbenz cclass sedan consumer reports rated rearseat comfort along ride quality frontseat comfort good needed passengers sections 6040 splitfolding rear seat collapsed additional cargo capacity controls intuitive simple operate getgo sixspeaker audio system ipod integration ford focus type compact 160160160passengers five 160160160rental companies hertz avis budget 160160160gas mileage 160160160160160160160city 28 160160160160160160160highway 38 depending company find focus either sedan hatchback rental cars although differences terms cargo space sedan plenty hatchback considerably two styles much alike different responsive 160horsepower 2liter fourcylinder engine turns front wheels via drivershiftable sixspeed automatic transmission consumer reports assigned ratings good ride quality noise frontseat comfort highly stylized exterior interior focus doesnt look feel much like rental car interior particularly good looking controls simple operate even firsttime user cabin exceptionally quiet nissan altima type fullsize 160160160passengers five 160160160rental companies hertz avis enterprise budget 160160160gas mileage 160160160160160160160city 27 160160160160160160160highway 38 find twodoor fourdoor versions altima rental cars rental needs include transporting two people probably want four doors renters unfamiliar continuously variable transmission need adjust absence shifting altima uses cvt usher output 182horsepower 25liter fourcylinder engine front wheels nimble easy handle redesigned 2013 altima wellsuited long freeway rambles crowded city streets consumer reports rated ride quality noise front rearseat comfort good consumer reports also awarded good altimas cargo space nasa helped design front bucket seats improved comfort long distances cadillac xts type luxury 160160160passengers five 160160160rental companies avis budget 160160160gas mileage 160160160160160160160city 17 160160160160160160160highway 28 fuel economy isnt good xts smaller cars list also sedan using v6 get go generating 304 horsepower 36liter v6 xts armed drivershiftable sixspeed automatic transmission turn front wheels largest car cadillacs stable xts cabin positively cavernous consumer reports rated noise frontseat comfort excellent ride quality rearseat comfort cargo space received good built touring sedan leave feeling refreshed sixhour jaunt started dualzone automatic climate control bose audio system ipod connectivity part package dodge grand caravan type minivan 160160160passengers seven 160160160rental companies avis hertz enterprise 160160160gas mileage 160160160160160160160city 17 160160160160160160160highway 25 apparently minivan workhorse rental companies grand caravan remarkable blend passengercargocarrying capacity convenience comfort consumer reports scored good ride comfort noise front rearseat comfort cargo space tough beat need carry several passengers luggage hood 283horsepower 36liter v6 drivershiftable sixspeed automatic transmission ushers power front wheels wont find lot bells whistles grand caravan rentals secondrow well thirdrow seats easily fold flat floor remote keyless entry seven air bags chevrolet traverse type standard suv 160160160passengers seven 160160160rental companies avis hertz 160160160gas mileage 160160160160160160160city 17 160160160160160160160highway 24 epa calls traverse standard suv may think large crossover still traverse room seven comes 36liter 288horsepower v6 engine sixspeed automatic transmission consumer reports rated traverse good measures bankrate considered assembling list among air bags firstever frontcenter side air bag inflates frontseat occupants added protection sideimpact crash providing carlike ride traverse terrific choice longer road trips | 770 |
<p />
<p>Whether you realize it or not, your credit report is a road map to financial success -- or frustration -- depending on what your report says about you.</p>
<p>Continue Reading Below</p>
<p>Most consumers think of a credit report and their credit score in terms of whether or not they'll qualify for a home loan, car loan, or be approved for a credit card. While these are some of the most common credit score associations, there are other uses for your credit report.</p>
<p>Image source: Getty Images.</p>
<p>For example, prospective employers might request a peek at your credit report to get an idea of how responsible you are by examining your payment history. Landlords that you want to rent from will also commonly ask to see your credit report. While late payments may not preclude you from getting the apartment, condo, or home of your dreams, collections and repossessions on your credit report just might.</p>
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<p>Your credit report may also have some bearing on your insurance rates and what you'll owe your utility companies as a deposit. Insurance companies have statistically found that people with lower credit scores are costlier to insure, therefore consumers with questionable credit reports tend to pay more for auto and/or home insurance. Similarly, while a water or electric utility can't deny service to someone with poor credit history, they can require a large deposit before beginning service.</p>
<p>As you can see, having a high-quality credit report and credit score can make your life a whole lot easier -- and potentially cheaper.</p>
<p>Image source: Getty Images.</p>
<p>According to a <a href="http://www.creditcards.com/credit-card-news/late-fee-waiver-poll.php" type="external">newly released survey Opens a New Window.</a> from online credit card marketplace CreditCards.com, an overwhelming majority of Americans who ask their credit card companies for concessions when it comes to high interest rates and credit card fees receives them.</p>
<p>CreditCards.com surveyed 952 American cardholders to find out if they'd ever asked their credit card company to get a late fee waved, avoid an annual fee, reduce their interest rate, or raise their credit limit. The results were astounding: 84% of requests were successful. Among the respondents CreditCards.com questioned:</p>
<p>You'll note the particularly intriguing finding that 82% of people were successful in getting their annual credit card fee waived. Most consumers, as the survey notes, consider an annual fee as being built into the cost of a credit card. While premium cards with consumer-friendly points and cash-back perks might be less likely to budge on an annual fee reduction request, lenders will likely look at your spending with some degree of objectivity and either reduce or eliminate your fee if you're deemed valuable to the company. Plus, the worst thing your lender can tell you is "No," and there are far worse things than that!</p>
<p>Image source: Getty Images.</p>
<p>It's also worth pointing out that 87% of respondents were able to get a late payment and fee removed from their account. If you have a long history of making on-time payments, creditors will often forgive a late payment as being out of the norm. And remember, the real reward of being granted a late-fee waiver isn't the $20 to $40 in late fees being waived, but the fact that you won't lose valuable points on your credit score that could potentially push your interest rates higher and hurt your future chance of getting a loan. A higher credit score means a potentially lower interest rate, which on a home could mean thousands, or even tens of thousands, in savings, all from requesting and receiving a late-fee waiver from your lender.</p>
<p>Furthermore, nearly 7 in 10 respondents were successful in lowering their interest rates. <a href="https://www.valuepenguin.com/average-credit-card-debt" type="external">According to ValuePenguin Opens a New Window.</a>, the average balance-carrying household had $16,048 in debt as of May 2016. A 1% move lower in APR means around $160 in annual interest savings, and the ability to pay down your principal even faster, which may be more worthwhile.</p>
<p>Now for the most mind-boggling stat of all: Despite consumers' impressive success rate in getting fees waived and interest rates lowered, no more than 1 in 4 cardholders makes any of these requests, and only around half of all consumers have made any requests at all. In other words, if you aren't taking what amounts to a minuscule amount of your time and effort to ask for concessions from your lenders, you can't save money -- and the data appears to show the odds of a concession are clearly in your favor.</p>
<p>Image source: Getty Images.</p>
<p>A key point presented in the CreditCards.com results by Bill McCracken, president of credit card market research firm Phoenix Synergistics, suggests that consumers don't realize their importance and worth to credit card companies. "It's more expensive for [credit card companies] to acquire new customers than it is to keep their current ones. So you should make these requests, because companies are going to do what it takes to keep you," said McCracken.</p>
<p>While we're on the topic, you should also be requesting a copy of your credit report annually from all three credit reporting bureaus at AnnualCreditReport.com. As a reminder, your credit reports are free once a year, and reviewing them can help ensure that there are no mistakes that could drag down your credit score and cause you to pay hundreds or thousands in added fees as a result of a lowered credit score.</p>
<p>As you can see, a little effort on your part can go a long way to bolstering your credit report and ensuring that you get to keep as much of your hard-earned money as possible.</p>
<p>5 Simple Tips to Skyrocket Your Credit Score Over 800!Increasing your credit score above 800 will put you in rare company. So rare that only 1 in 9 Americans can claim they're members of this elite club. But contrary to popular belief, racking up a high credit score is a lot easier than you may have imagined following 5 simple, disciplined strategies. You'll find a full rundown of each inside our <a href="http://www.fool.com/ecap/the_motley_fool/mortgage-creditscore/?ftm_cam=the-motley-fool&amp;ftm_veh=article_pitch&amp;source=ic3editxt0000001&amp;aid=8985&amp;ftm_pit=6983&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">FREE credit score guide Opens a New Window.</a>. It's time to put your financial future first and secure a lifetime of savings by increasing your credit score. Simply <a href="http://www.fool.com/ecap/the_motley_fool/mortgage-creditscore/?ftm_cam=the-motley-fool&amp;ftm_veh=article_pitch&amp;source=ic3editxt0000001&amp;aid=8985&amp;ftm_pit=6983&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">click here Opens a New Window.</a>to claim a copy 5 Simple Tips to Skyrocket Your Credit Score over 800.</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 | whether realize credit report road map financial success frustration depending report says continue reading consumers think credit report credit score terms whether theyll qualify home loan car loan approved credit card common credit score associations uses credit report image source getty images example prospective employers might request peek credit report get idea responsible examining payment history landlords want rent also commonly ask see credit report late payments may preclude getting apartment condo home dreams collections repossessions credit report might advertisement credit report may also bearing insurance rates youll owe utility companies deposit insurance companies statistically found people lower credit scores costlier insure therefore consumers questionable credit reports tend pay auto andor home insurance similarly water electric utility cant deny service someone poor credit history require large deposit beginning service see highquality credit report credit score make life whole lot easier potentially cheaper image source getty images according newly released survey opens new window online credit card marketplace creditcardscom overwhelming majority americans ask credit card companies concessions comes high interest rates credit card fees receives creditcardscom surveyed 952 american cardholders find theyd ever asked credit card company get late fee waved avoid annual fee reduce interest rate raise credit limit results astounding 84 requests successful among respondents creditcardscom questioned youll note particularly intriguing finding 82 people successful getting annual credit card fee waived consumers survey notes consider annual fee built cost credit card premium cards consumerfriendly points cashback perks might less likely budge annual fee reduction request lenders likely look spending degree objectivity either reduce eliminate fee youre deemed valuable company plus worst thing lender tell far worse things image source getty images also worth pointing 87 respondents able get late payment fee removed account long history making ontime payments creditors often forgive late payment norm remember real reward granted latefee waiver isnt 20 40 late fees waived fact wont lose valuable points credit score could potentially push interest rates higher hurt future chance getting loan higher credit score means potentially lower interest rate home could mean thousands even tens thousands savings requesting receiving latefee waiver lender furthermore nearly 7 10 respondents successful lowering interest rates according valuepenguin opens new window average balancecarrying household 16048 debt may 2016 1 move lower apr means around 160 annual interest savings ability pay principal even faster may worthwhile mindboggling stat despite consumers impressive success rate getting fees waived interest rates lowered 1 4 cardholders makes requests around half consumers made requests words arent taking amounts minuscule amount time effort ask concessions lenders cant save money data appears show odds concession clearly favor image source getty images key point presented creditcardscom results bill mccracken president credit card market research firm phoenix synergistics suggests consumers dont realize importance worth credit card companies expensive credit card companies acquire new customers keep current ones make requests companies going takes keep said mccracken topic also requesting copy credit report annually three credit reporting bureaus annualcreditreportcom reminder credit reports free year reviewing help ensure mistakes could drag credit score cause pay hundreds thousands added fees result lowered credit score see little effort part go long way bolstering credit report ensuring get keep much hardearned money possible 5 simple tips skyrocket credit score 800increasing credit score 800 put rare company rare 1 9 americans claim theyre members elite club contrary popular belief racking high credit score lot easier may imagined following 5 simple disciplined strategies youll find full rundown inside free credit score guide opens new window time put financial future first secure lifetime savings increasing credit score simply click opens new windowto claim copy 5 simple tips skyrocket credit score 800 motley fool disclosure policy opens new window | 608 |
<p>Police in Dubai reopened the streets around one of the world's tallest residential skyscrapers after firefighters put out a blaze that erupted early Friday in the high-rise, forcing residents to evacuate in the middle of the night and sending chunks of debris plummeting below.</p>
<p>No major injuries had been reported in the tower, located in an upscale waterfront district heavily populated by expatriates from around the world. A few people were treated for smoke inhalation, according to Dubai's Gulf News website.</p>
<p>Continue Reading Below</p>
<p>Several residents said the fire broke out just after 1 a.m. at the 87-story Torch Tower — a more than 1,100-foot-tall (335 meters) residential building in Dubai's Marina district.</p>
<p>The tower has 676 apartments — 38 of which were burnt and destroyed by the fire, according to the official Dubai media office. Sixty-four floors of the facade of the building were also burnt, they said.</p>
<p>The same building had also caught fire just two-and-a-half years earlier.</p>
<p>The cause of the fire on was not immediately known but in the past, such infernos in Dubai have been linked to highly flammable building cladding — as was the devastating June tower fire in London that killed at least 80 people.</p>
<p>"You never think it's going to happen to you," said Alireza Aletomeh, a resident of the tower. "I had cash in there, furniture, paintings. ... Many things that are very valuable to me."</p>
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<p>Aletomeh, a sales manager, said he moved to the Torch Tower just three months ago, snagging an apartment on the 54th floor of the luxury tower. He said he was coming home after midnight when building security guards told him to remain in the street because a fire had erupted.</p>
<p>He said his roommate grabbed their passports and that it took him more than two hours to come down the stairway because of the rush of people trying to get out at the same time. At least one woman passed out in the stairway, Aletomeh said.</p>
<p>Nearly the entire length of the building on one side became engulfed in flames at one point during the blaze as residents looked on from below, many in tears. The firefighters battled the blaze for more than two hours. Officials say 84 floors of the building are residential and three are for services.</p>
<p>Dubai's Civil Defense announced at about 3:30 a.m. that firefighters had brought the blaze under control and said cooling operations were underway. Authorities shared video of the building from the outside later on Friday, showing the entire length of the tower charred on one side.</p>
<p>By midday Friday, a few police cars could be seen in the area, but the main streets around it were open to traffic and had been wiped clean of debris, some of which had fallen on cars parked below.</p>
<p>The skyscraper, however, remained closed to residents. Officials said they were providing shelter at three nearby hotels for residents. By nightfall, residents still had not been told when they would be allowed to return to check on their apartments.</p>
<p>The Torch Tower previously caught fire in February 2015; there were also no casualties reported in that blaze.</p>
<p>In both incidents, fire alarms alerted residents and building staff knocked on doors to ensure evacuation.</p>
<p>Kingfield Owner Association Management Services, which manages the tower, did not provide any details about the cause of the blaze in a brief response to questions.</p>
<p>"The safety of all residents and staff is of the utmost importance, and our efforts are currently focused on arranging the necessary emergency accommodation for residents," spokeswoman Anel-Carline Beukes said without elaborating.</p>
<p>The tower was built by developer Select Group and opened in 2011. Select did not respond to requests for comment.</p>
<p>Aletomeh, who is now staying with friends, said towers like the Torch should have sprinklers. He wondered why Civil Defense crews did not deploy helicopters to try and extinguish the fire quicker.</p>
<p>"Putting out the fire was the most important thing, which took them so long," he said.</p>
<p>Simon Bach, a New Zealander who lives in a high-rise across the street, told The Associated Press he saw a few policemen as well as Emiratis in traditional white robes helping people get out. About 10 to 12 firetrucks arrived quickly on the scene, he said.</p>
<p>He said just as the firefighters had seemed to bring the blaze under control, falling debris ignited a part of the building further down.</p>
<p>"It seemed really out of control," he said. "People were streaming out of the car parks of the building."</p>
<p>Several skyscrapers in the United Arab Emirates have caught fire in recent years, including a towering inferno that engulfed a 63-story luxury hotel in Dubai on New Year's Eve in 2016. In that blaze, as in others in Dubai in recent years, residents escaped without major injury.</p>
<p>And on Thursday evening, in the neighboring emirate of Sharjah, an under-construction tower caught fire that raged for several hours as local media and nearby residents posted dramatic images of the blaze.</p>
<p>Earlier this year, Dubai passed new fire safety rules requiring buildings with quick-burning side paneling to replace it with more fire-resistant siding. Authorities have previously acknowledged that at least 30,000 buildings across the UAE have cladding or paneling that safety experts have said accelerates the rapid spread of fires.</p>
<p>While the new regulations are now in place for construction in Dubai and other cities, it's unclear how authorities will force owners to replace flammable siding with better material.</p>
<p>The tragic June inferno in London prompted Britain to order more thorough testing on the cladding systems of its towers.</p>
<p>___</p>
<p>Associated Press writers Adam Schreck, Kamran Jebreili and Malak Harb contributed to this report from Dubai.</p> | true | 0 | police dubai reopened streets around one worlds tallest residential skyscrapers firefighters put blaze erupted early friday highrise forcing residents evacuate middle night sending chunks debris plummeting major injuries reported tower located upscale waterfront district heavily populated expatriates around world people treated smoke inhalation according dubais gulf news website continue reading several residents said fire broke 1 87story torch tower 1100foottall 335 meters residential building dubais marina district tower 676 apartments 38 burnt destroyed fire according official dubai media office sixtyfour floors facade building also burnt said building also caught fire twoandahalf years earlier cause fire immediately known past infernos dubai linked highly flammable building cladding devastating june tower fire london killed least 80 people never think going happen said alireza aletomeh resident tower cash furniture paintings many things valuable advertisement aletomeh sales manager said moved torch tower three months ago snagging apartment 54th floor luxury tower said coming home midnight building security guards told remain street fire erupted said roommate grabbed passports took two hours come stairway rush people trying get time least one woman passed stairway aletomeh said nearly entire length building one side became engulfed flames one point blaze residents looked many tears firefighters battled blaze two hours officials say 84 floors building residential three services dubais civil defense announced 330 firefighters brought blaze control said cooling operations underway authorities shared video building outside later friday showing entire length tower charred one side midday friday police cars could seen area main streets around open traffic wiped clean debris fallen cars parked skyscraper however remained closed residents officials said providing shelter three nearby hotels residents nightfall residents still told would allowed return check apartments torch tower previously caught fire february 2015 also casualties reported blaze incidents fire alarms alerted residents building staff knocked doors ensure evacuation kingfield owner association management services manages tower provide details cause blaze brief response questions safety residents staff utmost importance efforts currently focused arranging necessary emergency accommodation residents spokeswoman anelcarline beukes said without elaborating tower built developer select group opened 2011 select respond requests comment aletomeh staying friends said towers like torch sprinklers wondered civil defense crews deploy helicopters try extinguish fire quicker putting fire important thing took long said simon bach new zealander lives highrise across street told associated press saw policemen well emiratis traditional white robes helping people get 10 12 firetrucks arrived quickly scene said said firefighters seemed bring blaze control falling debris ignited part building seemed really control said people streaming car parks building several skyscrapers united arab emirates caught fire recent years including towering inferno engulfed 63story luxury hotel dubai new years eve 2016 blaze others dubai recent years residents escaped without major injury thursday evening neighboring emirate sharjah underconstruction tower caught fire raged several hours local media nearby residents posted dramatic images blaze earlier year dubai passed new fire safety rules requiring buildings quickburning side paneling replace fireresistant siding authorities previously acknowledged least 30000 buildings across uae cladding paneling safety experts said accelerates rapid spread fires new regulations place construction dubai cities unclear authorities force owners replace flammable siding better material tragic june inferno london prompted britain order thorough testing cladding systems towers ___ associated press writers adam schreck kamran jebreili malak harb contributed report dubai | 538 |
<p>Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...</p>
<p>It's been a rough year for owners of Cree (NASDAQ: CREE) stock.</p>
<p>Continue Reading Below</p>
<p>Over the past year, Cree stock has slumped 4% while the S&amp;P 500 has marched 12% higher -- 16% underperformance for the shares. This bad news got even worse on Wednesday, with Cree shares trading down 10% pre-market in response to the company's fourth-quarter loss, which was announced last night. And now, the downgrades have begun rolling in on Wall Street.</p>
<p>Here are three things you need to know about that.</p>
<p>Reporting&#160;earnings for its fourth and final quarter of fiscal 2017, Cree admitted&#160;last night that it lost $0.06 per share on sales of $358.9 million. Cree exceeded analyst expectations on revenue (Wall Street had predicted sales would be only $350 million), yet still managed to miss on earnings. Analysts wanted to see a $0.05 profit, but got a loss instead.</p>
<p>For the year, Cree scored a loss of $1 per share, and this was nearly five times as bad as the $0.21-per-share loss the company had reported in fiscal 2016.</p>
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<p>Commenting on the results, CEO Chuck Swoboda said his company posted "good results in each business and non-GAAP earnings per share that were in the middle of our target range." So while the numbers were bad last night, they were apparently no worse than what management had hoped to achieve.</p>
<p>Swoboda himself is <a href="https://www.fool.com/investing/2017/05/22/instant-analysis-crees-ceo-is-stepping-down.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">heading for the exits at Cree Opens a New Window.</a>. But on his way out the door, he paused Tuesday to reassure investors that, as bad as the Q4 numbers look, Cree has "built a solid foundation for growth in all three businesses over the last year." (These "three businesses" would be LED lighting products for consumers and industry; LED chips used in video screens, car headlights, and other non-"lighting" products; and the company's " <a href="https://www.fool.com/investing/2017/05/22/cree-stock-upgraded-on-hopes-for-a-sale-what-you-n.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Wolfspeed Opens a New Window.</a>" power and radio frequency products.)</p>
<p>Unfortunately for Cree shareholders, Cree's guidance&#160;for the current fiscal Q1 2018 undercuts these assurances somewhat. After reporting its loss for Q4, Cree went on to warn investors that revenue will be coming in between $353 million and $367 million (i.e., below Wall Street's expected&#160;$368.5 million) in Q1. Furthermore, Cree expects to report a loss of $0.20 to $0.25 in Q1 -- much worse than the breakeven profit Cree achieved in Q1 last year.</p>
<p>So the news was not good, and the guidance wasn't, either. Unsurprisingly, Wall Street is displeased with all the above, and this morning it's making its wrath felt.</p>
<p>Analysts at Stephens, already unenthused with Cree stock before earnings came out, made their displeasure official this morning when they downgraded Cree stock from equal weight to underweight (i.e., sell). As explained in a note on <a href="http://thefly.com/news.php?symbol=CREE" type="external">TheFly.com Opens a New Window.</a> morning, Stephens is of the opinion that profitability for Cree's core LED business "remains under pressure," and may have "plateau[ed]." Data from <a href="http://marketintelligence.spglobal.com/" type="external">S&amp;P Global Market Intelligence Opens a New Window.</a> confirm that sales at Cree declined year over year in each of the past four quarters, which tends to support this view.</p>
<p>Given this lack of growth -- this actual shrinkage in the business -- Stephens believes that Cree's current valuation is "unsustainable" and the stock is likely to continue falling. Thus, in addition to tagging Cree stock with a sell rating, Stephens is assigning it a new price target of just $16.50 --28% below where Cree closed yesterday ahead of earnings.</p>
<p>How should investors react to this news? That's a bit tricky to answer. Unprofitable over the past year, Cree currently has no P/E, and that makes it difficult to gauge its valuation, and how "unsustainable" it might be.</p>
<p>Cree does have free cash flow, of course, which I would ordinarily consider a factor in the stock's favor. In last night's report, Cree confided that while its earnings were negative in Q4 (and for the year), the company did generate positive free cash flow of $116.6 million. Surprisingly, that was up 70% from last year's $68.8 million, and enough to value Cree stock at 19 times cash profits.</p>
<p>Problem is, because Cree was unable to sell Wolfspeed&#160;to Infineon as previously planned, it's now once again on the hook for <a href="https://www.fool.com/investing/2017/02/09/failed-sale-costs-cree-stock-a-buy-rating.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">significant capital investments Opens a New Window.</a> needed by Wolfspeed. We don't yet know precisely how much money these investments will soak up, but we can anticipate that they will ding free cash flow somewhat, and push the company's price-to-free-cash-flow valuation even higher.</p>
<p>Given that 19 times free cash flow is probably too much to pay for a company that is not growing, and given that the valuation is only going to increase as Wolfspeed consumes more and more cash, I'm forced to agree with Stephens today: Cree's valuation is unsustainable, its stock is overpriced, and it's doomed to fall.</p>
<p>10 stocks we like better than CreeWhen 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=229d4518-9a24-4868-ad83-311333871528&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Cree wasn't one of them! That's right -- they think these 10 stocks are even better buys.</p>
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<p><a href="http://my.fool.com/profile/TMFDitty/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">Rich Smith Opens a New Window.</a> has no position in any of the stocks mentioned. 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;uuid=e10322b2-8807-11e7-b23c-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | every day wall street analysts upgrade stocks downgrade others initiate coverage analysts even know theyre talking today taking one highprofile wall street pick putting microscope rough year owners cree nasdaq cree stock continue reading past year cree stock slumped 4 sampp 500 marched 12 higher 16 underperformance shares bad news got even worse wednesday cree shares trading 10 premarket response companys fourthquarter loss announced last night downgrades begun rolling wall street three things need know reporting160earnings fourth final quarter fiscal 2017 cree admitted160last night lost 006 per share sales 3589 million cree exceeded analyst expectations revenue wall street predicted sales would 350 million yet still managed miss earnings analysts wanted see 005 profit got loss instead year cree scored loss 1 per share nearly five times bad 021pershare loss company reported fiscal 2016 advertisement commenting results ceo chuck swoboda said company posted good results business nongaap earnings per share middle target range numbers bad last night apparently worse management hoped achieve swoboda heading exits cree opens new window way door paused tuesday reassure investors bad q4 numbers look cree built solid foundation growth three businesses last year three businesses would led lighting products consumers industry led chips used video screens car headlights nonlighting products companys wolfspeed opens new window power radio frequency products unfortunately cree shareholders crees guidance160for current fiscal q1 2018 undercuts assurances somewhat reporting loss q4 cree went warn investors revenue coming 353 million 367 million ie wall streets expected1603685 million q1 furthermore cree expects report loss 020 025 q1 much worse breakeven profit cree achieved q1 last year news good guidance wasnt either unsurprisingly wall street displeased morning making wrath felt analysts stephens already unenthused cree stock earnings came made displeasure official morning downgraded cree stock equal weight underweight ie sell explained note theflycom opens new window morning stephens opinion profitability crees core led business remains pressure may plateaued data sampp global market intelligence opens new window confirm sales cree declined year year past four quarters tends support view given lack growth actual shrinkage business stephens believes crees current valuation unsustainable stock likely continue falling thus addition tagging cree stock sell rating stephens assigning new price target 1650 28 cree closed yesterday ahead earnings investors react news thats bit tricky answer unprofitable past year cree currently pe makes difficult gauge valuation unsustainable might cree free cash flow course would ordinarily consider factor stocks favor last nights report cree confided earnings negative q4 year company generate positive free cash flow 1166 million surprisingly 70 last years 688 million enough value cree stock 19 times cash profits problem cree unable sell wolfspeed160to infineon previously planned hook significant capital investments opens new window needed wolfspeed dont yet know precisely much money investments soak anticipate ding free cash flow somewhat push companys pricetofreecashflow valuation even higher given 19 times free cash flow probably much pay company growing given valuation going increase wolfspeed consumes cash im forced agree stephens today crees valuation unsustainable stock overpriced doomed fall 10 stocks like better creewhen 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 cree wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns august 1 2017 rich smith opens new window position stocks mentioned motley fool position stocks mentioned motley fool disclosure policy opens new window | 574 |
<p>In August 2017, Professor Bruce Gilley of Portland State University published “ <a href="http://www.tandfonline.com/doi/abs/10.1080/01436597.2017.1369037" type="external">The Case for Colonialism</a>” (original link removed, article available <a href="" type="internal">here</a>) in Third World Quarterly.</p>
<p>This is the article’s abstract:</p>
<p />
<p>For the last 100&#160;years, Western colonialism has had a bad name. It is high time to question this orthodoxy. Western colonialism was, as a general rule, both objectively beneficial and subjectively legitimate in most of the places where it was found, using realistic measures of those concepts. The countries that embraced their colonial inheritance, by and large, did better than those that spurned it. Anti-colonial ideology imposed grave harms on subject peoples and continues to thwart sustained development and a fruitful encounter with modernity in many places. Colonialism can be recovered by weak and fragile states today in three ways: by reclaiming colonial modes of governance; by recolonising some areas; and by creating new Western colonies from scratch.</p>
<p><a href="" type="internal" /></p>
<p>What ensued was a full-blown academic firestorm, which we covered in several prior posts:</p>
<p>Gilley’s critics were so outraged that they called for the article’s retraction, as well as for removal of the journal editors and a public apology. These demands were set out in two petitions ( <a href="https://www.change.org/p/editors-of-the-third-world-quarterly-retract-the-case-for-colonialism" type="external">here</a>&#160;and&#160; <a href="https://www.change.org/p/third-world-quarterly-call-for-apology-and-retraction-from-third-world-quarterly" type="external">here</a>), each garnering thousands of signatures.</p>
<p>Additionally, 15 of the Journal’s 34 member editorial board resigned in protest.</p>
<p>The journal initially stood behind the publication, releasing a <a href="http://www.tandfonline.com/pb-assets/TWQ-response-Sept-2017.pdf" type="external">statement</a> on September 18th defending the decision to publish and calling for “serious responses” to the essay.</p>
<p>On September 21st, Gilley <a href="" type="internal">announced</a> that he had asked to withdraw the article stating that he “regret[s] the pain and anger that it has caused for many people”.</p>
<p><a href="" type="internal" /></p>
<p>Despite Gilley’s withdrawal, the article initially remained online.</p>
<p>On September 26, the Journal released a <a href="http://www.tandfonline.com/pb-assets/TWQ-response-Sept-2017.pdf" type="external">statement</a> elaborating the peer-review timeline of the article’s acceptance and publication as well as explaining why it cannot withdraw the article:</p>
<p>As journal publishers, we operate under the Committee on Publication Ethics (COPE) Code of Conduct. Among other things, COPE set out guidelines for situations in which a paper might be retracted. Peer-reviewed research articles cannot simply be withdrawn but must have grounds for retraction. These parameters exist in order to keep the scholarly record intact and so academic discourse cannot be shaped by any one opinion. Any request to change the scholarly record needs to follow a fair and transparent process, which is in line with these guidelines. As the publisher it is our role to treat this case as we would any other. On Thursday 21st September, the author contacted the journal’s editorial team, requesting the essay be withdrawn. In subsequent discussion with the author we have explained the above procedure and guidelines that we follow in all cases. As a result, the article remains online.</p>
<p>In publishing this essay, it was never our, or the Editor-in-Chief’s, intention to cause offence or to open academic discourse up to ‘click-bait’. We wholeheartedly apologize to those who have seen this as such but, as the publisher, we stand by the peer review process which led to this essay being published and defend the right of our academic journal editors and editorial boards to remain independent in their decision-making.</p>
<p>According to Peter Wood, in a <a href="http://www.mindingthecampus.org/2017/10/the-article-that-made-16000-profs-go-wild/" type="external">piece</a> at Minding the Campus, Gilley reportedly came to regret his retraction request, which was made under ‘onslaught’ and “in the hope of quieting a destructive tempest”.</p>
<p>Despite initially standing behind the decision to publish, the article has recently been removed from the journal’s website. The former <a href="http://www.tandfonline.com/doi/abs/10.1080/01436597.2017.1369037" type="external">link</a> for the essay now contains this explanation:</p>
<p>This Viewpoint essay has been withdrawn at the request of the academic journal editor, and in agreement with the author of the essay. Following a number of complaints, Taylor &amp; Francis conducted a thorough investigation into the peer review process on this article. Whilst this clearly demonstrated the essay had undergone double-blind peer review, in line with the journal’s editorial policy, the journal editor has subsequently received serious and credible threats of personal violence. These threats are linked to the publication of this essay. As the publisher, we must take this seriously. Taylor &amp; Francis has a strong and supportive duty of care to all our academic editorial teams, and this is why we are withdrawing this essay.</p>
<p />
<p>While the article is no longer online, we downloaded it, and you can <a href="" type="internal">read it here</a>.</p>
<p>According to the <a href="https://www.washingtonpost.com/news/morning-mix/wp/2017/10/09/just-before-columbus-day-journal-pulls-controversial-article-defending-colonialism/?utm_term=.ecaa87611487" type="external">Washington Post</a>, the timing of the withdrawal may be linked to Columbus Day.</p>
<p>While the sources of the threats were not specified. the shrill tone of those protesting Gilley’s article, including calling Gilley a ‘white supremacist’ and demanding his termination and the revocation of his PhD, as well as <a href="http://www.aljazeera.com/indepth/opinion/moral-paralysis-american-academia-170928091638481.html" type="external">calls</a> for him to be “ostracized, publicly shamed and humiliated, and never ever called ‘a colleague’ who should be politely invited for a ‘civilised debate’,” made this escalation seem all too predictable.</p>
<p>In <a href="https://www.insidehighered.com/news/2017/10/09/pro-colonialism-article-has-been-withdrawn-over-threats-journal-editor" type="external">reporting this story</a>, Inside Higher Ed <a href="https://www.insidehighered.com/news/2017/06/26/professors-are-often-political-lightning-rods-now-are-facing-new-threats-over-their" type="external">cited several recent cases</a> of death threats to academics, emanating from both extremes of the political spectrum. That list left out several high profile cases of threats against conservative scholars, such as <a href="https://www.theatlantic.com/politics/archive/2017/03/middlebury-free-speech-violence/518667/" type="external">Charles Murray and Allison Stanger</a> at Middlebury and <a href="http://www.latimes.com/local/lanow/la-me-ln-macdonald-claremont-speech-disrupted-20170408-story.html" type="external">Heather MacDonald at Claremont McKenna</a>). In none of these cases, as far as we can tell, was an academic’s written work actually censored due to these threats.</p>
<p>For that sort of thing, one would have to go back to the Norwegian Mohammad cartoons ( <a href="https://www.thefire.org/cases/yale-university-censorship-of-mohammed-cartoons-at-yale-university-press/" type="external">censored by Yale</a>) or perhaps to Salman Rushdie’s Satanic Verses.</p>
<p>In those cases, the threats could clearly be said to come from quarters hostile to academia. Can the same be said here?</p>
<p>———————-</p>
<p>The author is a graduate student who must write under a pseudonym for fear of retribution from faculty.</p> | true | 0 | august 2017 professor bruce gilley portland state university published case colonialism original link removed article available third world quarterly articles abstract last 100160years western colonialism bad name high time question orthodoxy western colonialism general rule objectively beneficial subjectively legitimate places found using realistic measures concepts countries embraced colonial inheritance large better spurned anticolonial ideology imposed grave harms subject peoples continues thwart sustained development fruitful encounter modernity many places colonialism recovered weak fragile states today three ways reclaiming colonial modes governance recolonising areas creating new western colonies scratch ensued fullblown academic firestorm covered several prior posts gilleys critics outraged called articles retraction well removal journal editors public apology demands set two petitions here160and160 garnering thousands signatures additionally 15 journals 34 member editorial board resigned protest journal initially stood behind publication releasing statement september 18th defending decision publish calling serious responses essay september 21st gilley announced asked withdraw article stating regrets pain anger caused many people despite gilleys withdrawal article initially remained online september 26 journal released statement elaborating peerreview timeline articles acceptance publication well explaining withdraw article journal publishers operate committee publication ethics cope code conduct among things cope set guidelines situations paper might retracted peerreviewed research articles simply withdrawn must grounds retraction parameters exist order keep scholarly record intact academic discourse shaped one opinion request change scholarly record needs follow fair transparent process line guidelines publisher role treat case would thursday 21st september author contacted journals editorial team requesting essay withdrawn subsequent discussion author explained procedure guidelines follow cases result article remains online publishing essay never editorinchiefs intention cause offence open academic discourse clickbait wholeheartedly apologize seen publisher stand peer review process led essay published defend right academic journal editors editorial boards remain independent decisionmaking according peter wood piece minding campus gilley reportedly came regret retraction request made onslaught hope quieting destructive tempest despite initially standing behind decision publish article recently removed journals website former link essay contains explanation viewpoint essay withdrawn request academic journal editor agreement author essay following number complaints taylor amp francis conducted thorough investigation peer review process article whilst clearly demonstrated essay undergone doubleblind peer review line journals editorial policy journal editor subsequently received serious credible threats personal violence threats linked publication essay publisher must take seriously taylor amp francis strong supportive duty care academic editorial teams withdrawing essay article longer online downloaded read according washington post timing withdrawal may linked columbus day sources threats specified shrill tone protesting gilleys article including calling gilley white supremacist demanding termination revocation phd well calls ostracized publicly shamed humiliated never ever called colleague politely invited civilised debate made escalation seem predictable reporting story inside higher ed cited several recent cases death threats academics emanating extremes political spectrum list left several high profile cases threats conservative scholars charles murray allison stanger middlebury heather macdonald claremont mckenna none cases far tell academics written work actually censored due threats sort thing one would go back norwegian mohammad cartoons censored yale perhaps salman rushdies satanic verses cases threats could clearly said come quarters hostile academia said author graduate student must write pseudonym fear retribution faculty | 512 |
<p />
<p>Image source: Pfizer.</p>
<p>Continue Reading Below</p>
<p>In terms of deals for the ages, the merger ofPfizer and Allergan was it -- and by "it" I mean the expected largest deal in healthcare history. The combined entity was designed to become the largest drug developer in the world, capable of more than $25 billion in operating cash flow by 2018 and expected to possess more than 100 mid to late-stage pipeline products.</p>
<p>In addition, the deal was structured in such a way that Allergan was "acquiring" the larger Pfizer, with Allergan shareholders expected to receive 11.3 shares of Pfizer's common stock for each share of Allergan. Structuring the deal this way would have allowed Pfizer to avoid the U.S. Treasury Department's tax inversion rules and redomicile its headquarters to Ireland, where Allergan is based. Ireland's corporate income tax is less than half that of the United States, and the tax savings alone would have been well in excess of $1 billion annually.</p>
<p>How the Treasury killed PfizerGan However, the Treasury <a href="http://www.fool.com/investing/general/2016/04/06/the-pfizer-allergan-deal-is-dead-heres-what-we-lea.aspx?source=eptfxblnk0000004" type="external">put the kibosh on this merger Opens a New Window.</a> on April 4, when it released some 300 pages of new tax-inversion regulations. While not specifically citing the Pfizer-Allergan merger, two of the new regulations in particular took direct aim at it.</p>
<p>First, the new tax-inversion laws target serial inverters -- overseas companies that have rapidly grown in size by acquiring U.S. assets -- by not counting the value of assets acquired on a trailing three-year basis when taking a deal into consideration. In easier-to-understand terms, Allergan's purchases of Warner-Chilcott for $5 billion and Forest Laboratories for $25 billion, and its merger with Actavis, were all going to be thrown off the books when calculating the Pfizer-Allergan deal value since they occurred within the past three years. This brought Allergan's deal value down to $106 billion from $160 billion and put it well below the threshold that Allergan shareholders would have been required to own of the new company if Pfizer were to relocate its headquarters.</p>
<p>Secondarily, the Treasury severely limited the practice of earnings stripping, in which overseas entities lend money to their U.S. subsidiaries and use the tax-deductible interest to lower their U.S. corporate income tax rate.</p>
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<p>Image source: AstraZeneca.</p>
<p>Three drug developers Pfizer might pursue With the deal now officially dead and each company going its own way, Pfizer is likely to remain on the hunt for acquisitions. Although, as we've heard from Pfizer's board previously, it's only interested in deals that'll move the needle, which is a fancy way of saying that anything sub-$5 billion (choosing an arbitrary figure here) is probably not on Pfizer's radar.</p>
<p>So which drug developers might Pfizer go after? I'd suggest these three are distinct possibilities.</p>
<p>1. AstraZenecaNo irony is lost on the fact that the emphasis on tax inversions began almost exactly two years ago, when Pfizer did its best to lure U.K.-based AstraZeneca into a buyout. At the time, buying AstraZeneca would have allowed Pfizer to escape what I figured to be around $1 billion in corporate income taxes per year if it were able to relocate its headquarters to the U.K.</p>
<p>However, even without juicy tax benefits, a deal with AstraZeneca could make a lot of sense for both companies. The reason is that each company has what the other needs.</p>
<p>Both Pfizer and AstraZeneca are struggling to grow demonstrably under the weight of patent expirations. But the therapeutic area that each has been struggling most is where the other can step in and assist.</p>
<p>Pfizer, for instance, lost patent exclusivity on cholesterol-fighter Lipitor and has struggled to grow its cardiovascular and metabolic franchises. By contrast, AstraZeneca has been shoring up its CV and metabolic franchises. It acquired a 100% stake in its diabetes alliance with Bristol-Myers Squibb in 2014,including Farxiga, a highly coveted SGLT2-inhibitor, and it gobbled up ZS Pharma just a few months prior to get its hands on the company's hyperkalemia treatments. Cardiovascular and metabolic drug products are AstraZeneca's main growth drivers.</p>
<p>Image source: Pfizer.</p>
<p>In turn, AstraZeneca hasn't exactly wowed Wall Street with its oncology franchise. Arimidex, Casodex, and Iressa all turned in a single-digit constant currency sales decline for AstraZeneca for the full year 2015. This is where Pfizer's oncology pipeline could be helpful. Breast cancer drug Ibrance is growing like wildfire, and Pfizer's experimental cancer immunotherapy avelumab (which it's developing with Merck KGaA ) looks to make it to pharmacy shelves well ahead of AstraZeneca's experimental immunotherapy products.</p>
<p>A pairing of struggling equals may still make sense here, even if the tax benefits will be a moot point.</p>
<p>2. Bristol-Myers SquibbAnother idea, which was also hatched roughly two years ago, is that Pfizer might be interested in pursuing a deal to acquire U.S.-based Bristol-Myers Squibb.</p>
<p>Why Bristol-Myers Squibb? Two primary reasons.</p>
<p>First and foremost, cancer immunotherapies. I repeat, cancer immunotherapies. Pfizer is bent on making an impact on the cancer immunotherapy market, but it was admittedly a bit late to the game. This is why Pfizer entered into an arguably expensive deal with Merck KGaA in November 2014 for avelumab that saw it pay Merck KGaA $850 million upfront, dangle up to $2 billion in development, regulatory, and sales-based milestone, and even offer up co-promotion agreements for Xalkori in the U.S. and other key markets.</p>
<p>Image source: Bristol-Myers Squibb.</p>
<p>Buying Bristol-Myers Squibb would give Pfizer access to the No. 1 immunotherapy on the market, Opdivo, which is approved to treat second-line non-small-cell lung cancer, metastatic melanoma, and second-line renal cell carcinoma, but could have a long list of approvals and combinations to come. Added in with avelumab, Pfizer could become an immunotherapy giant.</p>
<p>The second reason Bristol-Myers makes sense is potential cost synergies. Overlapping oncology research would likely result in cost-cutting, and both companies already co-market blood thinner Eliquis, which is expected to grow into a multibillion-dollar giant. Also attractive is that Bristol-Myers' full-year 2015 effective tax rate was just 21.2% compared to Pfizer's 24%. Even a modest move lower in effective tax rate can mean hundreds of millions in extra profit.</p>
<p>3. BioMarin Pharmaceutical Lastly, I could see Pfizer turning its attention to an acquisition similar in size to Hospira (this was about a $17 billion deal) and making a run at rare disease specialist BioMarin Pharmaceutical .</p>
<p>Make no mistake about it: Pfizer enjoys being in the limelight for major and/or chronic diseases. But one often overlooked primary areas of focus for Pfizer is rare-disease drugs.</p>
<p>Image source: BioMarin Pharmaceutical.</p>
<p>Rare disease drugs, commonly known as orphan therapies, treat 200,000 or fewer patients in the United States. Generally speaking, the smaller the prospective patient pool, the larger the price tag of an approved therapy. Best of all, orphan therapies come with extra competitive protections and rarely contend with a lot of competition, if any. Orphan drugs may also escape generic competitors once they come off patent, too. Thus, rare-disease drugs can be incredibly profitable.</p>
<p>The problem, as BioMarin has discovered after bringing five Food and Drug Administration-approved products to market, is that it can take time to bring costs under control while also continuing to research new rare-disease indications, market existing rare disease therapies, and generate more revenue in each successive year. At its current pace, BioMarin isn't expected to be healthfully profitable until fiscal 2019.</p>
<p>If Pfizer were to acquire BioMarin, chances are that it would be able to use its size to get BioMarin's cost structure way down, meaning profitability off BioMarin's existing products would be either immediate or occur within a year, in my best guess. Plus, BioMarin's losses could allow Pfizer to take advantage of a myriad of tax loss carry-forwards, including $300 million in federal research and development and orphan drug credit carry-forwards. This could provide a quick boost to Pfizer's EPS that'll help offset any acquisition-based costs of the deal.</p>
<p>What drug developer do you think Pfizer could go after next? Share your ideas in the comment section.</p>
<p>The article <a href="http://www.fool.com/investing/general/2016/04/07/3-drug-developers-pfizer-could-go-after-now-that-t.aspx" type="external">3 Drug Developers Pfizer Could Go After Now That the Allergan Deal Is Officially Dead 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 recommends BioMarin Pharmaceutical. 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 pfizer continue reading terms deals ages merger ofpfizer allergan mean expected largest deal healthcare history combined entity designed become largest drug developer world capable 25 billion operating cash flow 2018 expected possess 100 mid latestage pipeline products addition deal structured way allergan acquiring larger pfizer allergan shareholders expected receive 113 shares pfizers common stock share allergan structuring deal way would allowed pfizer avoid us treasury departments tax inversion rules redomicile headquarters ireland allergan based irelands corporate income tax less half united states tax savings alone would well excess 1 billion annually treasury killed pfizergan however treasury put kibosh merger opens new window april 4 released 300 pages new taxinversion regulations specifically citing pfizerallergan merger two new regulations particular took direct aim first new taxinversion laws target serial inverters overseas companies rapidly grown size acquiring us assets counting value assets acquired trailing threeyear basis taking deal consideration easiertounderstand terms allergans purchases warnerchilcott 5 billion forest laboratories 25 billion merger actavis going thrown books calculating pfizerallergan deal value since occurred within past three years brought allergans deal value 106 billion 160 billion put well threshold allergan shareholders would required new company pfizer relocate headquarters secondarily treasury severely limited practice earnings stripping overseas entities lend money us subsidiaries use taxdeductible interest lower us corporate income tax rate advertisement image source astrazeneca three drug developers pfizer might pursue deal officially dead company going way pfizer likely remain hunt acquisitions although weve heard pfizers board previously interested deals thatll move needle fancy way saying anything sub5 billion choosing arbitrary figure probably pfizers radar drug developers might pfizer go id suggest three distinct possibilities 1 astrazenecano irony lost fact emphasis tax inversions began almost exactly two years ago pfizer best lure ukbased astrazeneca buyout time buying astrazeneca would allowed pfizer escape figured around 1 billion corporate income taxes per year able relocate headquarters uk however even without juicy tax benefits deal astrazeneca could make lot sense companies reason company needs pfizer astrazeneca struggling grow demonstrably weight patent expirations therapeutic area struggling step assist pfizer instance lost patent exclusivity cholesterolfighter lipitor struggled grow cardiovascular metabolic franchises contrast astrazeneca shoring cv metabolic franchises acquired 100 stake diabetes alliance bristolmyers squibb 2014including farxiga highly coveted sglt2inhibitor gobbled zs pharma months prior get hands companys hyperkalemia treatments cardiovascular metabolic drug products astrazenecas main growth drivers image source pfizer turn astrazeneca hasnt exactly wowed wall street oncology franchise arimidex casodex iressa turned singledigit constant currency sales decline astrazeneca full year 2015 pfizers oncology pipeline could helpful breast cancer drug ibrance growing like wildfire pfizers experimental cancer immunotherapy avelumab developing merck kgaa looks make pharmacy shelves well ahead astrazenecas experimental immunotherapy products pairing struggling equals may still make sense even tax benefits moot point 2 bristolmyers squibbanother idea also hatched roughly two years ago pfizer might interested pursuing deal acquire usbased bristolmyers squibb bristolmyers squibb two primary reasons first foremost cancer immunotherapies repeat cancer immunotherapies pfizer bent making impact cancer immunotherapy market admittedly bit late game pfizer entered arguably expensive deal merck kgaa november 2014 avelumab saw pay merck kgaa 850 million upfront dangle 2 billion development regulatory salesbased milestone even offer copromotion agreements xalkori us key markets image source bristolmyers squibb buying bristolmyers squibb would give pfizer access 1 immunotherapy market opdivo approved treat secondline nonsmallcell lung cancer metastatic melanoma secondline renal cell carcinoma could long list approvals combinations come added avelumab pfizer could become immunotherapy giant second reason bristolmyers makes sense potential cost synergies overlapping oncology research would likely result costcutting companies already comarket blood thinner eliquis expected grow multibilliondollar giant also attractive bristolmyers fullyear 2015 effective tax rate 212 compared pfizers 24 even modest move lower effective tax rate mean hundreds millions extra profit 3 biomarin pharmaceutical lastly could see pfizer turning attention acquisition similar size hospira 17 billion deal making run rare disease specialist biomarin pharmaceutical make mistake pfizer enjoys limelight major andor chronic diseases one often overlooked primary areas focus pfizer raredisease drugs image source biomarin pharmaceutical rare disease drugs commonly known orphan therapies treat 200000 fewer patients united states generally speaking smaller prospective patient pool larger price tag approved therapy best orphan therapies come extra competitive protections rarely contend lot competition orphan drugs may also escape generic competitors come patent thus raredisease drugs incredibly profitable problem biomarin discovered bringing five food drug administrationapproved products market take time bring costs control also continuing research new raredisease indications market existing rare disease therapies generate revenue successive year current pace biomarin isnt expected healthfully profitable fiscal 2019 pfizer acquire biomarin chances would able use size get biomarins cost structure way meaning profitability biomarins existing products would either immediate occur within year best guess plus biomarins losses could allow pfizer take advantage myriad tax loss carryforwards including 300 million federal research development orphan drug credit carryforwards could provide quick boost pfizers eps thatll help offset acquisitionbased costs deal drug developer think pfizer could go next share ideas comment section article 3 drug developers pfizer could go allergan deal officially dead 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 recommends biomarin pharmaceutical 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 | 927 |
<p>Next year will be challenging for <a href="http://www.idg.com/www/rd.nsf/rd?readform&amp;t=search&amp;q=Intel" type="external">Intel Opens a New Window.</a> as it fends off accusations of monopolistic behavior while trying to establish a larger presence in the mobile and graphics segments.</p>
<p><a href="" type="internal">Intel</a> suffered big setbacks this year, delaying key products like the Larrabee graphics processor and attracting the attention of governments worldwide for alleged anticompetitive behavior. Intel's processors go into more than 80 percent of PCs worldwide, and the chip giant has battled accusations of using its market position to shut out competitors.</p>
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<p>The <a href="" type="internal">European Commission</a> in May found Intel guilty of monopolistic behavior, fining the chip maker 1.06 billion (US$1.45 billion at the time) after finding the company guilty of giving rebates to PC makers in exchange for buying its microprocessors in bulk. The New York attorney general and the U.S. <a href="" type="internal">Federal Trade Commission</a> recently filed antitrust cases, accusing Intel of illegally using its market position to stifle competition and depriving consumers of choice in the microprocessor industry.</p>
<p>The increased scrutiny could impact business dealings for Intel in the short term, analysts said.</p>
<p>"It's always a distraction when you have a team of lawyers breathing down your neck," said Nathan Brookwood, principal analyst at Insight 64. "When you have a dominant position in the market, there are a variety of constraints that the legal system places on what you can do to maintain the position and how you behave."</p>
<p>Top executives may spend more time poring over legal issues, but Intel has a strong structure in place to handle day-to-day issues, Brookwood said. Intel has strong PC and server chip sales, which should continue as it releases chips and executes its manufacturing strategy.</p>
<p>While legal issues shouldn't threaten Intel's market position, they could change the way Intel deals with customers, said Dan Olds, principal analyst at Gabriel Consulting Group. This could help competitors like <a href="" type="internal">Advanced Micro Devices</a> and <a href="" type="internal">Nvidia</a>, which could take advantage of Intel's perceived period of weakness to grab market share.</p>
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<p>Intel came under increased scrutiny because of incentives it provided to PC makers that shut out rivals like AMD. Intel may need to cut back on some of those incentives, which could provide a level playing field for AMD to compete, analysts said. AMD earlier this year settled a lawsuit with Intel for $1.25 billion after accusing the chip maker of offering rebates that kept AMD from making deals with PC makers.</p>
<p>PC makers will now have an opportunity to evaluate AMD and Intel chips based on merit and commercial propositions. But will PC makers choose more AMD chips over Intel?</p>
<p>"I would be surprised if AMD would win," Brookwood said. Intel has stuck to product plans like clockwork and emerged with a stronger product line than it had a few years ago, he said. AMD is a generation behind in the manufacturing process, and will have to compete fiercely to get design wins. However, AMD offers a price advantage and better graphics capabilities than Intel, which could attract some PC makers.</p>
<p>Another analyst agreed, saying it remains to be seen how much the tide has swung in AMD's favor. "It's not a simple question," said Jack Gold, principal analyst at J. Gold Associates. "Yes, AMD chips are less expensive and lower overall costs of systems, which consumers appreciate. But Intel chips generally offer higher performance on PCs."</p>
<p>Businesses may be willing to pay a few dollars more to get extra performance from Intel chips, but consumers may not, Gold said.</p>
<p>The FTC has also expanded its case against Intel by talking about graphics processors, which is a significant escalation, analysts said. Some complaints involved Intel doing exclusive deals where PC makers had to buy processors with chipsets, but the FTC wants to make the chipset market more competitive, Olds said. That should open the market AMD and Nvidia.</p>
<p>Intel has an eye toward changing its chip architecture by integrating many of the chipset components, including the graphics processor, inside the CPU. The FTC could take a hard look at those levels of integration, which could impact the way Intel licenses and designs chip technology, analysts said. Intel plans to ship laptop and desktop processors that integrate GPUs inside CPUs early next year.</p>
<p>Chip licensing battles are already brewing -- Intel in February filed a lawsuit asking a judge to rule that Nvidia was not licensed to produce chipsets for Intel's processors with integrated memory controllers. Nvidia later countersued Intel for breach of contract.</p>
<p>The impact of FTC's actions could be "be less than expected," however, and courts may not be willing to force Intel to license modern x86 instruction sets, wrote Doug Freedman, an analyst at financial firm Broadpoint Amtech, in an research note this week.</p>
<p>At any rate, despite the big lead over AMD in the microprocessor market, Intel won't rest on its laurels. The PC market is growing at a slower rate than ever before, and Intel wants to establish a larger presence in markets like the mobile and embedded segments, Brookwood said.</p>
<p>"The challenge for Intel is to find ways to expand its markets in ways that don't necessarily get it in trouble legally," Brookwood said. Entering new markets has paid off in the past -- Intel introduced in 2008 the low-power Atom chip for netbooks, which was a runaway success. Netbooks accounted for around 20 percent of portable PC shipments this year, according to numbers released this month by DisplaySearch.</p>
<p>Intel has already committed $7 billion to revamping its manufacturing facilities to produce smaller, more integrated chips for use in <a href="" type="internal">consumer electronics</a>. Smaller chips could help it enter new markets and create revenue opportunities, Intel has said.</p>
<p>The low-hanging fruit is in the mobile market, as the volume of chips that go into smartphones outpaces traditional CPUs that go into PCs, analysts said. Intel has a minor presence in the space with its Atom chips, and most smartphones today carry chips designed by rival Arm.</p>
<p>"The emergence of smart devices of all types -- smartphones, mobile Internet devices, embedded devices etc. -- are all prime territory for selling chips and Intel wants to be a player in an area where it has little share currently," Gold said.</p>
<p>With Arm's dominance, Intel can attack the space without much scrutiny from government agencies. Intel later this year will release a power-efficient smartphone chip codenamed Moorestown, which could heat up competition with companies that make Arm-based chips like <a href="" type="internal">Qualcomm</a>, <a href="" type="internal">Texas Instruments</a>, Freescale and <a href="" type="internal">Samsung</a>.</p>
<p>Moorestown won't achieve the levels of power efficiency of Arm chips, but it could be a step ahead for Intel in developing lower-power, low-cost Atom chips. Intel needs more design wins so customers are convinced about the chip's performance. A handful of companies like LG Electronics are testing the chip, but have not promised to release devices.</p>
<p>Another market ripe for growth is graphics. Earlier this month, Intel delayed the release of the multicore Larrabee graphics processor, which would have been its first discrete graphics chip. Graphics processors are increasingly being used in high-performance computing, with companies like AMD and Nvidia offering chips with hundreds of cores to process math applications.</p>
<p>Scuttling Larrabee has cut Intel away from being competitive in that market. The company could try to make itself more competitive with AMD or Nvidia through acquisitions or internal development, said Ezra Gottheil, an analyst at Technology Business Research. The company is expected to share more information about Larrabee developments later in 2010.</p>
<p>More companies are adopting graphics processors suited to highly parallel computing environments. Oak Ridge National Laboratory plans to use Nvidia's upcoming Fermi graphics chips in a supercomputer for scientific tasks such as climate modeling. Intel's high-performance offerings include Xeon chips. The company is also developing an 48-core processor that could be applied to high-performance computing environments.</p>
<p>Nevertheless, Intel will be making many visits to court, and the company shouldn't let that distract it from executing its manufacturing and chip strategy.</p>
<p>"2010 could be a transitional year for Intel in that it really depends on what happens on the antitrust [side]," Olds said. "Or it could be the beginning of a long slog through all this stuff."</p>
<p>More from IDG:</p> | true | 0 | next year challenging intel opens new window fends accusations monopolistic behavior trying establish larger presence mobile graphics segments intel suffered big setbacks year delaying key products like larrabee graphics processor attracting attention governments worldwide alleged anticompetitive behavior intels processors go 80 percent pcs worldwide chip giant battled accusations using market position shut competitors continue reading european commission may found intel guilty monopolistic behavior fining chip maker 106 billion us145 billion time finding company guilty giving rebates pc makers exchange buying microprocessors bulk new york attorney general us federal trade commission recently filed antitrust cases accusing intel illegally using market position stifle competition depriving consumers choice microprocessor industry increased scrutiny could impact business dealings intel short term analysts said always distraction team lawyers breathing neck said nathan brookwood principal analyst insight 64 dominant position market variety constraints legal system places maintain position behave top executives may spend time poring legal issues intel strong structure place handle daytoday issues brookwood said intel strong pc server chip sales continue releases chips executes manufacturing strategy legal issues shouldnt threaten intels market position could change way intel deals customers said dan olds principal analyst gabriel consulting group could help competitors like advanced micro devices nvidia could take advantage intels perceived period weakness grab market share advertisement intel came increased scrutiny incentives provided pc makers shut rivals like amd intel may need cut back incentives could provide level playing field amd compete analysts said amd earlier year settled lawsuit intel 125 billion accusing chip maker offering rebates kept amd making deals pc makers pc makers opportunity evaluate amd intel chips based merit commercial propositions pc makers choose amd chips intel would surprised amd would win brookwood said intel stuck product plans like clockwork emerged stronger product line years ago said amd generation behind manufacturing process compete fiercely get design wins however amd offers price advantage better graphics capabilities intel could attract pc makers another analyst agreed saying remains seen much tide swung amds favor simple question said jack gold principal analyst j gold associates yes amd chips less expensive lower overall costs systems consumers appreciate intel chips generally offer higher performance pcs businesses may willing pay dollars get extra performance intel chips consumers may gold said ftc also expanded case intel talking graphics processors significant escalation analysts said complaints involved intel exclusive deals pc makers buy processors chipsets ftc wants make chipset market competitive olds said open market amd nvidia intel eye toward changing chip architecture integrating many chipset components including graphics processor inside cpu ftc could take hard look levels integration could impact way intel licenses designs chip technology analysts said intel plans ship laptop desktop processors integrate gpus inside cpus early next year chip licensing battles already brewing intel february filed lawsuit asking judge rule nvidia licensed produce chipsets intels processors integrated memory controllers nvidia later countersued intel breach contract impact ftcs actions could less expected however courts may willing force intel license modern x86 instruction sets wrote doug freedman analyst financial firm broadpoint amtech research note week rate despite big lead amd microprocessor market intel wont rest laurels pc market growing slower rate ever intel wants establish larger presence markets like mobile embedded segments brookwood said challenge intel find ways expand markets ways dont necessarily get trouble legally brookwood said entering new markets paid past intel introduced 2008 lowpower atom chip netbooks runaway success netbooks accounted around 20 percent portable pc shipments year according numbers released month displaysearch intel already committed 7 billion revamping manufacturing facilities produce smaller integrated chips use consumer electronics smaller chips could help enter new markets create revenue opportunities intel said lowhanging fruit mobile market volume chips go smartphones outpaces traditional cpus go pcs analysts said intel minor presence space atom chips smartphones today carry chips designed rival arm emergence smart devices types smartphones mobile internet devices embedded devices etc prime territory selling chips intel wants player area little share currently gold said arms dominance intel attack space without much scrutiny government agencies intel later year release powerefficient smartphone chip codenamed moorestown could heat competition companies make armbased chips like qualcomm texas instruments freescale samsung moorestown wont achieve levels power efficiency arm chips could step ahead intel developing lowerpower lowcost atom chips intel needs design wins customers convinced chips performance handful companies like lg electronics testing chip promised release devices another market ripe growth graphics earlier month intel delayed release multicore larrabee graphics processor would first discrete graphics chip graphics processors increasingly used highperformance computing companies like amd nvidia offering chips hundreds cores process math applications scuttling larrabee cut intel away competitive market company could try make competitive amd nvidia acquisitions internal development said ezra gottheil analyst technology business research company expected share information larrabee developments later 2010 companies adopting graphics processors suited highly parallel computing environments oak ridge national laboratory plans use nvidias upcoming fermi graphics chips supercomputer scientific tasks climate modeling intels highperformance offerings include xeon chips company also developing 48core processor could applied highperformance computing environments nevertheless intel making many visits court company shouldnt let distract executing manufacturing chip strategy 2010 could transitional year intel really depends happens antitrust side olds said could beginning long slog stuff idg | 862 |
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<p>Image source: Getty Images.</p>
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<p>By now, you probably know all about the $14.6 billion Apple (NASDAQ: AAPL) owes the Irish government in back taxes. Cupertino is sure to appeal that decision by European Union regulators, but the age of Ireland-based tax shelters may be coming to an accelerated halt.</p>
<p>Do you know how elaborate Apple's international tax structure actually is? Let's have a closer look.</p>
<p>The company was an early adopter of the "double Irish with a Dutch sandwich" strategy back in the 1980s -- some even say the company invented this tax evasion tool.</p>
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<p>The double Irish depended on a quirk in Irish tax laws, where a company could be incorporated in Ireland but avoid corporate income taxes by having its "central management and control" in another state.</p>
<p>So, you could set up one shell company with this physical center on the Emerald Isle, taking advantage of Ireland's paltry 12.5% tax rate and European domicile. Another company would technically be incorporated in Ireland but have its base of operations in an entirely tax-free jurisdiction, such as the Cayman Islands or Bermuda. Crucially, the second entity was assigned the rights to important intellectual property, such as technology patents or design trademarks.</p>
<p>The first company was set up to collect revenue from the American company's non-U.S. operations. However, most of this top-line revenue would be spent on license fees and royalties for that intellectual property nugget, allowing the 100% Irish unit to report low profits or none at all, while the Caribbean business pocketed the real bottom-line profits in a tax-free haven.</p>
<p>The "Dutch sandwich" part of the grand scheme refers to a third business registered in the Netherlands. This is a shim between the two Irish companies, working around Ireland's substantial taxes on transferring profits out of the country. But those taxes are waived when the target is based elsewhere in the European Union, and the Netherlands does not tax profit transfers overseas, so the Dutch middle-man makes for a smoother and lower-cost transfer to that sun-drenched tax haven.</p>
<p>Now, the double Irish is properly discussed in the past tense. The Irish tax code got an overhaul in 2013, removing the legal basis for registering businesses in Ireland with tax domiciles elsewhere. This change removes the second half of the double Irish, destroying the whole tax-evasion tactic.</p>
<p>However, the new rules currently only apply to starting a new business. Existing companies are still grandfathered in until 2020. So, Apple's big European tax bill has nothing to do with Cupertino overstepping its legal limits. Instead, the Commission found that Ireland was wrong to allow Apple's tax structure to exist in the first place.</p>
<p>Apple will obviously fight this outcome tooth and nail. In a strange twist, the company has an ally in the Irish government. Ireland has also vowed to overturn the European Commission's verdict, which leaves the country fighting to keep Apple from paying it money.</p>
<p>This sounds silly at first glance, but it makes sense when you consider Ireland's place as a favored business center under light taxation. Irish regulators fear the Apple decision may lead to <a href="http://www.fool.com/investing/general/2014/08/10/is-this-quiet-street-in-ireland-costing-americans.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">a lemming trail of foreign businesses Opens a New Window.</a> seeking new tax shelters elsewhere -- long before that looming 2020 deadline kicks in.</p>
<p>You may have heard Apple complaining that it can't take profits home from overseas until the <a href="http://www.fool.com/investing/2016/08/02/1-big-upside-risk-for-apple-inc.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">repatriation tax Opens a New Window.</a> is lowered, but the company has actually been preparing to shift some overseas cash back to domestic shores by pre-paying some of the expected tax bills.</p>
<p>Five years ago, longtime Apple analyst Katy Huberty <a href="http://www.fool.com/investing/general/2011/09/13/the-time-is-right-for-an-apple-dividend.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">revealed Opens a New Window.</a> that the company indeed pays some domestic taxes on foreign earnings. At the time, she used this fact as ammunition in favor of an Apple dividend.</p>
<p>The dividend policy followed a few months later, and Apple is still following its old policy of paying down some foreign repatriation fees in advance. Here's the evidence:</p>
<p>Data source: Apple's SEC filings.</p>
<p>The Irish strategy keeps overseas taxes very low. However, Apple routinely pays nearly double the 35% federal tax rate on domestic pre-tax earnings. This is a symptom of Uncle Sam collecting taxes above and beyond his federal and state levies to cover some of those troubling repatriation fees in advance.</p>
<p><a href="http://www.fool.com/investing/general/2011/09/18/guess-who-else-wields-apples-secret-weapon.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">When I checked in on this phenomenon in 2011 Opens a New Window.</a>, Apple's total tax rate stopped at 24%. The foreign tax bill amounted to just 1% of overseas profits, while the domestic tax rate ballooned to 79%. The 2013 reform seems to have steered Apple in a new direction, but the double Irish is still working wonders. Keep in mind that only 34% of Apple's pre-tax profits come from domestic sales, and the balance keeps tipping further and further overseas. In 2013, the domestic portion of EBIT profits was 39%.</p>
<p>Apple spearheaded the charge into Irish-Caribbean tax strategies 30 years ago. Now, pretty much every multinational business worth its salt has <a href="http://www.fool.com/investing/general/2012/12/13/is-googles-tax-dodging-good-enough-for-dow-dynasti.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;utm_source=foxbusiness" type="external">followed suit Opens a New Window.</a> -- and now Apple must lead the way to a new international tax strategy.</p>
<p>The double Irish has kept billions of dollars away from tax collectors around the world, and some of it may get clawed back if the European Commission's verdict isn't overturned. Investors of all stripes should keep an eye on this conflict, because the effects will spread far beyond Apple.</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=2668&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/TMFZahrim/info.aspx" type="external">Anders Bylund Opens a New Window.</a> has no position in any stocks mentioned. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. 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>.</p>
<p>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 probably know 146 billion apple nasdaq aapl owes irish government back taxes cupertino sure appeal decision european union regulators age irelandbased tax shelters may coming accelerated halt know elaborate apples international tax structure actually lets closer look company early adopter double irish dutch sandwich strategy back 1980s even say company invented tax evasion tool advertisement double irish depended quirk irish tax laws company could incorporated ireland avoid corporate income taxes central management control another state could set one shell company physical center emerald isle taking advantage irelands paltry 125 tax rate european domicile another company would technically incorporated ireland base operations entirely taxfree jurisdiction cayman islands bermuda crucially second entity assigned rights important intellectual property technology patents design trademarks first company set collect revenue american companys nonus operations however topline revenue would spent license fees royalties intellectual property nugget allowing 100 irish unit report low profits none caribbean business pocketed real bottomline profits taxfree dutch sandwich part grand scheme refers third business registered netherlands shim two irish companies working around irelands substantial taxes transferring profits country taxes waived target based elsewhere european union netherlands tax profit transfers overseas dutch middleman makes smoother lowercost transfer sundrenched tax double irish properly discussed past tense irish tax code got overhaul 2013 removing legal basis registering businesses ireland tax domiciles elsewhere change removes second half double irish destroying whole taxevasion tactic however new rules currently apply starting new business existing companies still grandfathered 2020 apples big european tax bill nothing cupertino overstepping legal limits instead commission found ireland wrong allow apples tax structure exist first place apple obviously fight outcome tooth nail strange twist company ally irish government ireland also vowed overturn european commissions verdict leaves country fighting keep apple paying money sounds silly first glance makes sense consider irelands place favored business center light taxation irish regulators fear apple decision may lead lemming trail foreign businesses opens new window seeking new tax shelters elsewhere long looming 2020 deadline kicks may heard apple complaining cant take profits home overseas repatriation tax opens new window lowered company actually preparing shift overseas cash back domestic shores prepaying expected tax bills five years ago longtime apple analyst katy huberty revealed opens new window company indeed pays domestic taxes foreign earnings time used fact ammunition favor apple dividend dividend policy followed months later apple still following old policy paying foreign repatriation fees advance heres evidence data source apples sec filings irish strategy keeps overseas taxes low however apple routinely pays nearly double 35 federal tax rate domestic pretax earnings symptom uncle sam collecting taxes beyond federal state levies cover troubling repatriation fees advance checked phenomenon 2011 opens new window apples total tax rate stopped 24 foreign tax bill amounted 1 overseas profits domestic tax rate ballooned 79 2013 reform seems steered apple new direction double irish still working wonders keep mind 34 apples pretax profits come domestic sales balance keeps tipping overseas 2013 domestic portion ebit profits 39 apple spearheaded charge irishcaribbean tax strategies 30 years ago pretty much every multinational business worth salt followed suit opens new window apple must lead way new international tax strategy double irish kept billions dollars away tax collectors around world may get clawed back european commissions verdict isnt overturned investors stripes keep eye conflict effects spread far beyond apple 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 anders bylund opens new window position stocks mentioned motley fool owns shares recommends apple motley fool following options long january 2018 90 calls apple short january 2018 95 calls apple 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 | 660 |
<p>Aurinia Pharmaceuticals Inc.&#160;(NASDAQ: AUPH) stock has already tripled this year, on renewed hopes of success for an experimental lupus treatment. Despite this year's big run-up, this clinical-stage biotech stock could still be a gold mine for growth investors.</p>
<p>Aurinia shares probably would have jumped much higher if a safety scare and mixed data for the company's lead candidate weren't weighing on investors' minds. Here's why that pessimism might be overblown.</p>
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<p>Each year more than 200,000 Americans are diagnosed with lupus. The chronic autoimmune disorder can affect nearly any organ, but roughly half of these patients are diagnosed with a form that often leads to kidney failure called lupus nephritis. Aurinia's developing voclosporin, to be the first treatment upgrade these patients have seen in decades.</p>
<p>Lupus nephritis patients are generally treated with steroids, but most require additional treatments to keep their immune system from destroying their kidneys. The most popular non-steroid suppressant is a drug the FDA approved decades ago to&#160;reduce rejection of transplanted organs, mycophenolate mofetil (MMF).</p>
<p>That's right. One of the most common lupus nephritis treatments isn't even approved for treating the disease. Physicians are clamoring for a better option, which is why Aurinia thinks its lead candidate could eventually generate more than $1 billion in sales each year.</p>
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<p>Cyclosporine is another powerful immune suppressant that can drive lupus nephritis into remission, but its use is limited to patients that have exhausted other options because it's toxic to kidney tissue. Aurinia's voclosporin swaps out one of the 11 amino acids that make up cyclosporine, and it looks as if that simple adjustment allows it to be effective at a lower dosage with fewer side effects.</p>
<p>During the midstage Aura trial, 33% of patients receiving 23.7 mg of voclosporin in addition to standard MMF experienced a complete remission at 24 weeks, versus just 19% of patients receiving MMF plus a placebo. That was good, but the data got even better at 48 weeks when the complete remission rate rose to 49%, versus just 24% for the group receiving MMF alone, plus all patients in complete remission at 24 weeks still weren't showing any signs of disease activity.</p>
<p>The huge remission-rate improvement would make voclosporin's eventual applications seem like a slam dunk for approval, but there were some deeply disturbing issues that have kept Aurinia Pharmaceuticals stock from soaring. Among 256 lupus nephritis patients enrolled, 13 died during the Aura study. Also, there was a lower complete response rate among patients given a higher dosage of voclosporin.</p>
<p>Investors like to see responses rise with dosages because it suggests the experimental drug is actually driving the observed improvement. I think the benefit observed for both voclosporin doses at 48 weeks, though, was strong enough to allay those fears. As for the high number of patient deaths, investigators stated there wasn't any link to voclosporin. The claim has since been reinforced by the FDA, which allowed the company to begin a larger, late-stage study with voclosporin earlier this year.</p>
<p>Those fears have pressured Aurinia's market cap down to a sprightly $519 million at recent prices, which seems awfully low for a company with a good shot at eventually generating roughly $1 billion in sales each year with voclosporin as a treatment for lupus nephritis. Biotech stocks tend to trade at mid-single-digit multiples of annual revenue, which means this stock has long-term multibagger potential written all over it.</p>
<p>The late-stage Aurora trial with voclosporin in lupus nephritis is playing to the Aura study's strengths. Patients will receive MMF and the 22.7 mg dosage of voclosporin that did the trick earlier with a remission rate assessment at 52 weeks. Based on 48-week data from the Aura trial, a late-stage failure would be downright shocking.</p>
<p>There are no guarantees another safety scare won't derail voclosporin on its path to become a new lupus nephritis medication, but success in this indication could fund developing of voclosporin for additional uses that could boost its value even further.</p>
<p>Remember, voclosporin is similar to cyclosporine, a poorly tolerated drug that Novartis still markets under the Sandimmune and Neoral brands. Despite some&#160;generic competition, the branded franchise generated $515 million in sales for the Swiss pharma giant last year, mainly as a treatment to protect against transplanted-organ rejection.</p>
<p>Aurinia is aiming voclosporin at the lupus nephritis indication first because it represents a large unmet need. If successful, though, lupus revenue could fund development voclosporin for transplant recipients, and other autoimmune disorders as well. That makes this stock look like potential gold mine big enough to fill Scrooge McDuck's vault.</p>
<p>10 stocks we like better than Aurinia PharmaceuticalsWhen 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=d71801c1-48e9-4e9a-9651-2aebd9b14226&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e8ca9efe-9f80-11e7-afb8-0050569d32b9&amp;utm_source=foxbusiness" type="external">10 best stocks Opens a New Window.</a> for investors to buy right now... and Aurinia Pharmaceuticals 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=d71801c1-48e9-4e9a-9651-2aebd9b14226&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e8ca9efe-9f80-11e7-afb8-0050569d32b9&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 September 5, 2017</p>
<p><a href="http://my.fool.com/profile/TMFang4apples/info.aspx?&amp;utm_campaign=article&amp;utm_medium=feed&amp;uuid=e8ca9efe-9f80-11e7-afb8-0050569d32b9&amp;utm_source=foxbusiness" type="external">Cory Renauer Opens a New Window.</a> has no position in any of the stocks mentioned. 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;uuid=e8ca9efe-9f80-11e7-afb8-0050569d32b9&amp;utm_source=foxbusiness" type="external">disclosure policy Opens a New Window.</a>.</p> | true | 0 | aurinia pharmaceuticals inc160nasdaq auph stock already tripled year renewed hopes success experimental lupus treatment despite years big runup clinicalstage biotech stock could still gold mine growth investors aurinia shares probably would jumped much higher safety scare mixed data companys lead candidate werent weighing investors minds heres pessimism might overblown continue reading year 200000 americans diagnosed lupus chronic autoimmune disorder affect nearly organ roughly half patients diagnosed form often leads kidney failure called lupus nephritis aurinias developing voclosporin first treatment upgrade patients seen decades lupus nephritis patients generally treated steroids require additional treatments keep immune system destroying kidneys popular nonsteroid suppressant drug fda approved decades ago to160reduce rejection transplanted organs mycophenolate mofetil mmf thats right one common lupus nephritis treatments isnt even approved treating disease physicians clamoring better option aurinia thinks lead candidate could eventually generate 1 billion sales year advertisement cyclosporine another powerful immune suppressant drive lupus nephritis remission use limited patients exhausted options toxic kidney tissue aurinias voclosporin swaps one 11 amino acids make cyclosporine looks simple adjustment allows effective lower dosage fewer side effects midstage aura trial 33 patients receiving 237 mg voclosporin addition standard mmf experienced complete remission 24 weeks versus 19 patients receiving mmf plus placebo good data got even better 48 weeks complete remission rate rose 49 versus 24 group receiving mmf alone plus patients complete remission 24 weeks still werent showing signs disease activity huge remissionrate improvement would make voclosporins eventual applications seem like slam dunk approval deeply disturbing issues kept aurinia pharmaceuticals stock soaring among 256 lupus nephritis patients enrolled 13 died aura study also lower complete response rate among patients given higher dosage voclosporin investors like see responses rise dosages suggests experimental drug actually driving observed improvement think benefit observed voclosporin doses 48 weeks though strong enough allay fears high number patient deaths investigators stated wasnt link voclosporin claim since reinforced fda allowed company begin larger latestage study voclosporin earlier year fears pressured aurinias market cap sprightly 519 million recent prices seems awfully low company good shot eventually generating roughly 1 billion sales year voclosporin treatment lupus nephritis biotech stocks tend trade midsingledigit multiples annual revenue means stock longterm multibagger potential written latestage aurora trial voclosporin lupus nephritis playing aura studys strengths patients receive mmf 227 mg dosage voclosporin trick earlier remission rate assessment 52 weeks based 48week data aura trial latestage failure would downright shocking guarantees another safety scare wont derail voclosporin path become new lupus nephritis medication success indication could fund developing voclosporin additional uses could boost value even remember voclosporin similar cyclosporine poorly tolerated drug novartis still markets sandimmune neoral brands despite some160generic competition branded franchise generated 515 million sales swiss pharma giant last year mainly treatment protect transplantedorgan rejection aurinia aiming voclosporin lupus nephritis indication first represents large unmet need successful though lupus revenue could fund development voclosporin transplant recipients autoimmune disorders well makes stock look like potential gold mine big enough fill scrooge mcducks vault 10 stocks like better aurinia pharmaceuticalswhen 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 aurinia pharmaceuticals wasnt one thats right think 10 stocks even better buys click opens new window learn picks stock advisor returns september 5 2017 cory renauer opens new window position stocks mentioned motley fool position stocks mentioned motley fool disclosure policy opens new window | 569 |
<p>"Freedom is slavery." -- George Orwell, 1984.</p>
<p>Biases up front: No subject bores me more than that of human sexuality; which I see as just another form of navel-gazing invented by the narcissistic plague of locusts we call Baby Boomers. Also, although she is all-kinds of adorable, Dakota Johnson, star of "Fifty Shades Darker," does nothing for me. Unfortunately, she has the body of a 14 year-old boy. I want to see a woman naked, not Justin Bieber.</p>
<p>One can therefore argue that this makes it impossible for me to give "Darker" a fair shot. The truth, though, is that my inability to relate to the subject-matter, or to be distracted by the bewbs, makes it possible for me to see The Matrix that lies behind "Fifty Shades Darker"… and it is truly sinister. Let me first lay out where I have no biases…</p>
<p>What consenting adults do in the privacy of their own home makes me no nevermind. We're lucky to live in a country where people can get their freak on. With those freedoms comes plenty of downside, no question. The porn industry, for instance, grinds up the women who star in it and warps the sexuality of too many of the young men who are its primary customers. Nevertheless, the horrors of that freedom are preferable to the horrors used to repress that freedom.</p>
<p>So if grown-ups want to get whipped and handcuffed, whatever. My indifference to what we now call alternate lifestyles-- you'd be awed by how little I care. Also, as long as we're talking about adults expressing free will, film all the filth you want. Again, I just don't care.</p>
<p>What I do care about, though, what does raise my hackles, is dishonesty. When a major film studio, like Universal, spends $100 million to produce and promote a shiny piece of propaganda that lies to young women, that tells the impressionable that it is an act of YouGoGirl empowerment to allow a man to manipulate you, to psychologically cage you, to sexually degrade you… Man alive.</p>
<p>Like its predecessor, "Fifty Shades of Grey" (2015), "Fifty Shades Darker" is the biggest gift anyone could give to Men Who Treat Women Like Meat. What we have here is a big league franchise film that serves as a study guide in how to manipulate women into agreeing to be used. Worse, it brainwashes women into believing that being degraded and controlled is a form of healthy feminism.</p>
<p>When we last saw Anastasia (Johnson), she was walking out on her sadist boyfriend, billionaire playboy Christian Grey (Jamie Dornan). In his Red Room of Pain, a place stocked with whips, oils, chains, and a whole bunch of creepy S&amp;M gear I've never even heard of (and I've seen "Pulp Fiction"), Grey lost sexual control of himself and whipped Ana. Because of a troubled childhood, our wounded, brooding hunky-boy hero can only get off by inflicting pain.</p>
<p>The break-up does not last long. Ana misses her Perverted Prince Charming, and before you know it he is once again whisking her off, Pretty Woman-style, into the enchanted wonderland that is his life: yachts, masked balls, penthouse apartments, limos, stylists, diamonds, fancy restaurants, Beautiful People and designer gowns.</p>
<p>Along the way, we are treated to no fewer than seven explicit sex scenes, where we get to watch Anastasia spanked, tied up, put in leg irons, introduced to nipple clamps, and let's just say -- I'll put this as delicately as possible -- Mr. Grey is not big on looking into Ana's eyes during the act of love.</p>
<p>And all along the way the movie lies to us, tells us Anastasia is in charge, even as she's flipped over like a naked pancake, even as she's emotionally and financially manipulated into Grey's gilded cage.</p>
<p>Ana defiantly tears up a $24,000 check. She doesn't want his money! He immediately gets on the phone and wires it into her account. She's horrified he knows her bank account number. But she's really not -- it's actually kind of romantic in a handsome-stalker kind of way. Later on, She! Shows! Him! by giving away the money at a fancy charity auction, an act that makes our shy heroine the center of attention. Oh, look at her blossom!</p>
<p>Grey also keeps a thick file on Ana, complete with photos of her walking down the street. Be still my heart.</p>
<p>Ana wants to make it on her own in her chosen career as a book editor. Grey immediately buys the company she works for and naturally, as a strong, independent woman, she's furious …. until he "saves her" from her boss, a sexual harasser. Ana is then promoted into her dream job, which Grey had nothing to do with. Riiiight.</p>
<p>Ana meets Leila, a young woman emotionally and psychologically shattered by her sexually-submissive relationship with Grey. Looking like she just escaped from a concentration camp, Leila breaks into Ana's apartment wielding a revolver. But Grey swoops in to save the day by ordering Leila to get down on her knees, which she immediately does. This reality so troubles Ana, she needs a whole three-hour walk in the rain before she'll have sex with him again.</p>
<p>This movie is so amoral that Leila is not used as a tragic, cautionary tale, but rather as a cheap device, a dramatic roadblock to Ana and Grey's true and eternal love.</p>
<p>Grey is constantly barking orders at Ana, but we're told she's empowered because at first she resists … just before doing exactly what he says -- you know, because she made him ask again in a nice way. It is the same with the sex. Because Ana chooses to be treated like meat, we're told she's the one in charge.</p>
<p>Outside of this insidious message, outside of the fact that I am not a Belieber, the movie just sucks. The dialogue is horrible. The story is butt-numbingly dull. The plot-twists are ludicrous. (Where the hell did that helicopter crash come from?) For the price of a single ticket, you can subscribe to a month's worth of Cinemax. Why would anyone pay to sit through 118-minutes of soft-core porn wrapped in a script that makes your standard Lifetime movie look like "Casablanca?"</p>
<p>Anyway…</p>
<p>Grey just wants to make Ana's dreams come true. Swoon!</p>
<p>Ana just wants to save Grey from himself. Sigh!</p>
<p>Now bend over so I can insert this string of ball-bearings into your flower pot.</p>
<p>Oh, yeah -- you've come a long way, baby.</p>
<p>Follow John Nolte on Twitter <a href="https://twitter.com/NolteNC" type="external">@NolteNC</a>. Follow his Facebook Page <a href="https://www.facebook.com/JohnNolteNC/?skip_nax_wizard=true" type="external">here</a>.</p> | true | 0 | freedom slavery george orwell 1984 biases front subject bores human sexuality see another form navelgazing invented narcissistic plague locusts call baby boomers also although allkinds adorable dakota johnson star fifty shades darker nothing unfortunately body 14 yearold boy want see woman naked justin bieber one therefore argue makes impossible give darker fair shot truth though inability relate subjectmatter distracted bewbs makes possible see matrix lies behind fifty shades darker truly sinister let first lay biases consenting adults privacy home makes nevermind lucky live country people get freak freedoms comes plenty downside question porn industry instance grinds women star warps sexuality many young men primary customers nevertheless horrors freedom preferable horrors used repress freedom grownups want get whipped handcuffed whatever indifference call alternate lifestyles youd awed little care also long talking adults expressing free film filth want dont care care though raise hackles dishonesty major film studio like universal spends 100 million produce promote shiny piece propaganda lies young women tells impressionable act yougogirl empowerment allow man manipulate psychologically cage sexually degrade man alive like predecessor fifty shades grey 2015 fifty shades darker biggest gift anyone could give men treat women like meat big league franchise film serves study guide manipulate women agreeing used worse brainwashes women believing degraded controlled form healthy feminism last saw anastasia johnson walking sadist boyfriend billionaire playboy christian grey jamie dornan red room pain place stocked whips oils chains whole bunch creepy sampm gear ive never even heard ive seen pulp fiction grey lost sexual control whipped ana troubled childhood wounded brooding hunkyboy hero get inflicting pain breakup last long ana misses perverted prince charming know whisking pretty womanstyle enchanted wonderland life yachts masked balls penthouse apartments limos stylists diamonds fancy restaurants beautiful people designer gowns along way treated fewer seven explicit sex scenes get watch anastasia spanked tied put leg irons introduced nipple clamps lets say ill put delicately possible mr grey big looking anas eyes act love along way movie lies us tells us anastasia charge even shes flipped like naked pancake even shes emotionally financially manipulated greys gilded cage ana defiantly tears 24000 check doesnt want money immediately gets phone wires account shes horrified knows bank account number shes really actually kind romantic handsomestalker kind way later shows giving away money fancy charity auction act makes shy heroine center attention oh look blossom grey also keeps thick file ana complete photos walking street still heart ana wants make chosen career book editor grey immediately buys company works naturally strong independent woman shes furious saves boss sexual harasser ana promoted dream job grey nothing riiiight ana meets leila young woman emotionally psychologically shattered sexuallysubmissive relationship grey looking like escaped concentration camp leila breaks anas apartment wielding revolver grey swoops save day ordering leila get knees immediately reality troubles ana needs whole threehour walk rain shell sex movie amoral leila used tragic cautionary tale rather cheap device dramatic roadblock ana greys true eternal love grey constantly barking orders ana told shes empowered first resists exactly says know made ask nice way sex ana chooses treated like meat told shes one charge outside insidious message outside fact belieber movie sucks dialogue horrible story buttnumbingly dull plottwists ludicrous hell helicopter crash come price single ticket subscribe months worth cinemax would anyone pay sit 118minutes softcore porn wrapped script makes standard lifetime movie look like casablanca anyway grey wants make anas dreams come true swoon ana wants save grey sigh bend insert string ballbearings flower pot oh yeah youve come long way baby follow john nolte twitter noltenc follow facebook page | 593 |
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