first_imgView comments Spoelstra, 47, and his wife announced earlier Wednesday that they are expecting their first child, a son.Lauri Markkanen scored 25 points and Robin Lopez added 22 for the Bulls, who were 7 for 28 from 3-point range and got five of those makes in the final 2 minutes. Chicago fell to 1-5, matching its worst start since 2007-08.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutDion Waiters also scored 13 for the Heat, who were without starting forward James Johnson — a late scratch with right knee tendinitis.Miami was rolling early, up 20-6 after 8 minutes and 35-20 midway through the second quarter. The Bulls started 1 for 10 from the floor, Whiteside had eight rebounds in the game’s first 4:50 and everything was working for Miami. Heat: Whiteside made his 200th appearance with the Heat. … This was one of Miami’s four November home games. The Heat play at home three times in the next four weeks, and have 17 of their next 24 on the road. … Miami hasn’t lost four straight games in the same homestand since March 10-16, 2008. … Justise Winslow made his first shot, giving him seven straight makes over three games.NEW ERAWednesday marked the first time since March 26, 2003 that the Heat and Bulls played and Dwyane Wade wasn’t on either roster. Miami and Chicago played 71 times between 2003-04 and last season; Wade played for Miami in 64 of those games, sat out four and played for Chicago in the three Bulls-Heat matchups last season.SPO STATSAmong the 30 current NBA coaches, only San Antonio’s Gregg Popovich has held his job longer than Spoelstra. But there are only nine coaches who are younger than the Heat sideline boss: Luke Walton, Tyronn Lue, Brad Stevens, Dave Joerger, former Heat assistant David Fizdale, Frank Vogel, Jason Kidd, Michael Malone and Hoiberg. Japan ex-PM Nakasone who boosted ties with US dies at 101 Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles00:50Trending Articles01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games That is, until the Bulls started attacking.A 24-10 run by Chicago tied the game late in the half, seven of those field goals by the Bulls coming in close proximity to the rim. Chicago led by as many as six in the third and probably should have been up more, missing five shots at the rim late in the quarter.The Heat reclaimed the lead with a 10-1 run to end the third, Tyler Johnson scoring five of those points and Dragic hitting a late 3 as Miami took a 67-64 lead into the fourth.TIP INSBulls: Chicago tinkered with its starting lineup, adding David Nwaba and having Paul Zipser come off the bench. Bulls coach Fred Hoiberg is exploring certain combinations ahead of the looming return of Bobby Portis (suspension). … The Bulls trailed by as many as 14 in the first quarter, the earliest they’d faced such a deficit so early this season. … Justin Holiday missed 12 of his first 13 shots.ADVERTISEMENT Brace for potentially devastating typhoon approaching PH – NDRRMC Read Next LATEST STORIES Stronger peso trims PH debt value to P7.9 trillion Typhoon Kammuri accelerates, gains strength en route to PH AFPMIAMI — Goran Dragic scored 20 points and Tyler Johnson added 19 as the Miami Heat beat the Chicago Bulls 97-91 on Wednesday (Thursday Manila time) to end a three-game slide.Hassan Whiteside returned from a five-game absence with a bruised knee and scored 13 points and grabbed 14 rebounds for the Heat, who went 3-3 on their six-game homestand and gave coach Erik Spoelstra what has apparently become his annual gift — it was the fourth straight year Miami played and won on his birthday.ADVERTISEMENT Kammuri turning to super typhoon less likely but possible — Pagasa CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA Hayward, in blog post, expresses thanks for support QC cops nab robbery gang leader, cohort John Lloyd Cruz a dashing guest at Vhong Navarro’s wedding MOST READ Don’t miss out on the latest news and information. last_img read more

first_imgAbout the authorPaul VegasShare the loveHave your say Man Utd winger Daniel James admits drawing inspiration from Eden Hazardby Paul Vegas19 days agoSend to a friendShare the loveManchester United winger Daniel James admits he draws inspiration from Eden Hazard.Hazard established himself as one of the best players in the world during his time at Chelsea before leaving for Real Madrid in the summer.And United forward James has admitted he’s tried to learn from the Belgium international.“The way Hazard was at Chelsea – his movement in behind, when to go and when to stay – he’s so quick, but the way he stops people and goes, and little one-twos, getting shots off quickly is something he’s done his whole career,” he said.”Getting in the box for tap-ins is something I need to improve on.“When Hazard does a one-two you can’t get anywhere near him.”When I was younger, people said to me you won’t always be able to rely on speed. I used to just kick it past players and run – but nowadays that won’t happen, especially when people bank up on me.” last_img read more

There is an axiom in sports that all die-hard fans embrace. Once a team has reached a level at which its coach is grumpy after a victory, that team has “arrived.”So it was with the Columbus Blue Jackets Saturday in their 4-1 victory over the Los Angeles Kings before a crowd of 15,251.On the back of their strong special teams’ play, the Blue Jackets improved to 5-1-0 this season, the best start in franchise history. The Jackets got two goals from their power play unit, and captain Rick Nash scored a short-handed goal during the penalty kill.It didn’t seem to be enough for coach Ken Hitchcock.“We didn’t play that well tonight,” he said. “We competed, but we didn’t play that well. We need better play if we’re going to get to the next level.”The energy was noticeably absent from the building at the beginning. At least a third of the stadium’s seats remained empty at the first drop of the puck. The subdued atmosphere wasn’t improved when L.A. right winger Dustin Brown kicked off the scoring with a shot from just outside the slot that beat Jackets goalie Steve Mason.This Jackets team, unlike many in the past, refused to head into the dressing room down a goal. With just under a minute remaining in the period, left winger Jason Chimera brought the puck out of Columbus’ end, sped through the neutral zone, and fired a slap shot from the left circle. Kings goalie Jonathan Quick was too slow for it, and the Jackets went into the first intermission tied up.The Jackets never looked back.Mason continued to flash the kind of dazzling goaltending that made him the NHL Rookie of the Year last season, making 27 saves, many of the jaw-dropping variety.During one stretch in the second period, Mason made a series of saves on a flurry of opposing shots, including one in which he was caught out of position but made a diving recovery to cover up the puck in front of the net.Mason was quick to credit his teammates.“It’s extremely huge the way these guys are stepping up right now,” he said. “These guys are coming in and putting up a big effort and making my job easier.”Columbus’ Raffi Torres took some of the pressure off him with a rebound goal out of a scrum in front of the Kings’ net on the power play. He was assisted on the play by Derick Brassard and Kris Russell, who had just been signed to a contract extension by the club earlier in the day.Columbus was not finished yet.Down a man because of a cross-checking penalty on Jackets defenseman Fedor Tyutin, Rick Nash decided to take matters into his own hands.  Jackets center Samuel Pahlsson deftly stole the puck away from a Kings forward and swept it to a waiting Rick Nash, just past the blue line. Nash raced up the ice and undressed the Kings’ Justin Williams with a deke to his left before letting fly with a backhand shot that beat Quick.“I noticed there was a forward playing defense, and I thought I’d try something. Luckily enough, it worked,” Nash said of the goal.Jakub Voracek finished the scoring with an empty-net, power-play goal with 1:11 left in the game.As Jackets fans stood and applauded their team’s victory, there was joy once more in Mudville as the sting of the Buckeye football team’s defeat faded from memory. read more

first_imgFormer Tottenham manager Tim Sherwood believes Unai Emery must keep Mesut Ozil on side at Arsenal and advised him to tell him whatever he needs to hear – even if it’s not trueThe German playmaker has missed Arsenal’s last four games after coming off with a knee problem at half-time in the club’s 1-1 Boxing Day draw at Brighton.Gunners boss Emery has previously also left out Ozil from his matchday squad for “tactical reasons”, but Sherwood believes the Spaniard would be well advised to not “burn any bridges” with Arsenal’s highest earner.“Surely he has to get Ozil on side? He’s one of his best players,” Sherwood told Sky Sports.“You can’t burn bridges with a player who is on £350,000 a week and is sitting there doing nothing.“You have to get him on side and get him on the pitch and do his best to make the team better.Harry Maguire, Manchester UnitedLiverpool legend Nicol slams Harry Maguire’s Man United form Andrew Smyth – September 14, 2019 Steve Nicol believes Harry Maguire has made some “horrendous mistakes” recently, and has failed to find his best form since joining Manchester United.“Matteo Guendouzi and Lucas Torreira are good at what they do, but they cannot see the pass like Ozil.“Get him on side again, talk to him, get your arm around him and tell him what he needs to be told, even if you mean it or you don’t, you tell him and make him feel like he’s the main man, because Ozil on form is better than anything that Arsenal have got.“Not only that, he is eating away at that wage bill, it’s wasted money if he’s not on the pitch. Get him on the pitch.“It might be against your principles, but if you want to get results you are better with him in the team than without him in the team.”Ozil has managed three goals and one assist in 13 Premier League games this season.last_img read more

first_imgLiverpool’s midfielder Fabinho is bracing up for the challenge of arch-rivals Manchester United on Sunday for what has been dubbed England’s El Clasico.Klopp’s men head into the clash 16 points ahead of United with Fabinho relishing the prospect of playing in another game that has additional significance for supporters, following his victorious Merseyside derby debut earlier this month.“I’m not really an expert on the history of this rivalry, but I believe it is the biggest rivalry in English football,” the Brazil international told Liverpoolfc.com.“They’re the two most successful teams in England, so history shows that there’s a huge rivalry. I think the geographical closeness, with Manchester being just down the road, adds even more to it.Top 5 Premier League players to watch for next weekend Tomás Pavel Ibarra Meda – September 11, 2019 With the international activity cooling down for the next month, we go back to the Premier League’s Top 5 players to watch this weekend.After…“We’re going to approach this game like all the other games and I hope it’s a night to remember, like the Everton game.“I’m definitely looking forward to it. When you sign for Liverpool you have these types of games in mind. With the passion of the fans, their support, we go on the field to give our best to put on a show for them.“Against Everton, the fans left very happy with the victory and the way in which we won, and I hope against Manchester United we can put on a similar spectacle: representing the Liverpool shirt and playing with a lot of desire. I hope we’ll get the three points.”last_img read more

first_imgFacebook0TwitterEmailPrintFriendly分享Caring for the Kenai was created on the Kenai Peninsula to challenge high school students to respond to the question “what can I do, invent, create, or improve to better care for the environment of my area or improve the area’s preparedness for natural disaster?”  Caring for my Backyard will expand that challenge to high school students across the nation. Caring for the Kenai will continue on the Kenai Peninsula. Sikorski: “Our young people can make a difference, if we give them the opportunity and the motivation to do it.” Caring for the Kenai Founder and Contest Coordinator Merrill Sikorski: “It’s time that idea, which started as Caring for the Kenai, becomes about more than just the Kenai Peninsula. We’ve seen incredible results here over the past 28 years.” Caring For My Backyard will be available as a model private/public community partnership anywhere there are backyards and youth with creative ideas. Caring for the Kenai is expanding that challenge across the nation and launching Caring For My Backyard. Caring for the Kenai is administrated by the Challenger Learning Center, and distributes more than $30,000 in cash prizes each year. Story as aired: Audio PlayerJennifer-on-CFK-goes-natinowide-.mp3VmJennifer-on-CFK-goes-natinowide-.mp300:00RPd Challenger CEO Marnie Olcott:“The Challenger Mission to inspire students in the science, technology, engineering and math disciplines while connecting with the relationships and applications to real world situations creates a seamless backdrop for a program such as Caring for Kenai that was designed to have students think of creative ideas to help their local environment and prepare for natural disasters.”last_img read more

first_imgWILMINGTON, MA — According to the Wilmington Town Clerk’s calendar, there are several town board, committee and commission meetings scheduled for the week of Sunday, September 8, 2019.Sunday, September 8, 2019No MeetingsMonday, September 9, 2019The Wilmington Board of Selectmen meets at 7pm in Town Hall’s Room 9. (An Executive Session precedes the meeting at 6:15pm.) Read the agenda HERE.The Wilmington Historical Commission meets at 7pm at the Harnden Tavern/Town Museum. Read the agenda HERE.Tuesday, September 10, 2019The Wilmington Planning Board meets at 7:30pm in Town Hall’s Room 9. Read the agenda HERE.Wednesday, September 11, 2019The Wilmington School Committee meets at 6:30pm (EARLY START TIME) in the High School’s Large Instruction Room. Read the agenda HERE.The Wilmington Board of Appeals meets at 7pm in Town Hall’s Room 9. The agenda will be posted HERE.Thursday, September 12, 2019No MeetingsFriday, September 13 2019No MeetingsSaturday, September 14, 2019No Meetings(NOTE: While unlikely, it is possible additional meetings could be added to this week’s calendar on Wednesday, Thursday, or Friday.  It’s best to check the Town Clerk’s calendar mid-week.)Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.Share this:TwitterFacebookLike this:Like Loading… RelatedWhat Are Town Boards & Committees Talking About? (Week of September 1, 2019)In “Government”What Are Town Boards & Committees Talking About? (Week of August 4, 2019)In “Government”What Are Town Boards & Committees Talking About? (Week of July 7, 2019)In “Government”last_img read more

first_imgChitransh JainPR HandoutChitransh Jain, a CA Drop out, is turning tables as a digital entrepreneur by providing a platform called ‘Singing Sensations’ to the unheard talents.It was the passion in Chitransh Jain which drove him to drop out of Oxford Brookes University and create a platform for the unheard, budding ‘Singing Sensations’ as he puts it!Chitransh Jain, the 24 years old founder of the leading music portal ‘Singing Sensations’ shares his roots from the land of Rajasthan. His expertise in digital marketing has helped many singers, actors and youtubers like Ashish Chanchlani, Varun Pruthi, Monali Thakur, Isha Koppikar, Gajendra Verma, to name a few.From the trails of his endeavor so far, he firmly believes that the need of the hour is to provide the budding talents in the nation, the fame that it rightly deserves and it is through his platform singing sensations; and his prospects with brands like Facebook, Instagram and YouTube, he feels all his efforts are totally worth it, if an unheard talent gets a platform.Chitransh Jain says, “No matter if today your singing voice is hidden from the real world, but tomorrow it can be published and bring it to the notice of millions. It is a well-known fact that India is full of young and talented singers with quite mesmerizing melodious voices.”Chitransh Jain adds,” But they require the right professional guidance and direction that can perfectly shape their singing talent, and also right platform to channelize their latent talents to the best across the globe.”Through Singing Sensations which is a Digital Platform for Media, Distribution and Talent Management has got the back of every artist who has the talent and grit but is still unheard, it promises to showcase an independent content all across the masses or as he quotes “every unheard talent is just a click away from becoming the ‘singing sensation!’last_img read more

first_imgIn this 11 July 2018 photo, Japanese organizational expert Marie Kondo introduces her new line of storage boxes during a media event in New York. Kondo is launching the product line, a six-piece set of colorful and sturdy paper boxes, for $89. Photo : APPeople often ask Japanese tidying queen Marie Kondo what containers they need to achieve her brand of organizational success. They expect her to “reveal some hitherto secret storage weapon, ” she explains in her popular book.Instead, she advised when “The Life-Changing Magic of Tidying Up” was first published in Japanese in 2011, “You can solve your storage problems with things you already have in the house.”But Kondo’s thinking has evolved as she’s leveraged her massive, global fan base to expand her empire. She’s now got an upcoming Netflix show, a fledgling corps of consultants working around the world to help her fans declutter their homes, and, on Tuesday, she’s launched her first product line: six-piece sets of beautiful, sturdy paper boxes for $89 a pop.In a recent appearance in Manhattan to announce the show and merchandise line, Kondo said she thinks lovely storage options will spark the life-changing joy she wrote about in her book, which has sold more than 10 million copies in 40-plus countries. She also hopes the boxes will motivate more people to actually complete all the steps in her laborious KonMari Method of sorting, tossing and putting things away in their right and righteous locations.The new storage sets are the shape and size of shoe boxes. (Her book had recommended using real shoe boxes for organizing.) Smaller boxes in the set are akin to iPhone boxes (another reuse hack she recommends). All are intended to be of service on shelves or in drawers (the sets are called Hikidashi, which means “drawer” in Japanese) to hold such things as sunglasses, handbags, papers, socks, undergarments and T-shirts, the latter three lovingly folded in the flat, KonMari-sanctioned way so they stand upright.”I’m probably the only person in the world who makes such an official occasion to introduce empty boxes,” the soft-spoken mother of two recently told a small gathering of journalists through a translator as she unveiled the containers. “These are meant to enhance your experience of the KonMari Method.”The boxes will also enhance her bottom line. Since Kondo unleashed the best-selling “Life-Changing Magic,” including an English translation in 2014, she’s published three other books, earned a spot on Time magazine’s 2015 list of 100 most influential people and given birth to two girls, now 3 and nearly 2.She has given birth to a new business as well: consultants certified by her and sent forth into homes in 23 countries, from Europe and the Americas to Australia and the Middle East. As for her new show, Netflix ordered an initial eight episodes of her series of home consultations but will say little else on the record.For now, it’s all about the boxes, in pale pink, soft gray, taupe and purple watercolor designs. The sets are dubbed Wonder, Harmony, Clarity and Balance. Customers ordering the containers, for delivery in mid-September from her website, konmari.com , will receive a series of emails and other help online to guide them through the tidying process.Perhaps more importantly, she hopes to connect devotees to one another online via her take on social networking.”I often hear that it is very difficult to sustain your motivation to tidy when you’re doing it all by yourself, so I very much feel that having this community is very important,” Kondo said.She has adorned just the interiors of the boxes. One set has a purple tree branch with white buds inside. Others are done in abstract swirls. The idea, Kondo said, is to “make the things that you store inside happy,” rather than merely hide belongings away. Their plain exterior design also makes the boxes easier to blend with just about any decor.Two additional sets of boxes in smaller sizes and different color schemes are planned for the holiday season later this year.Kondo, who is based in Tokyo, told The Associated Press in an interview after the crowd cleared out that she’s not done writing books quite yet. Her next one will focus on workplace organizing.She is traveling less now and no longer does regular home consultations, a business she began building as a 19-year-old college student studying sociology. Working one-on-one again in homes for Netflix was a highlight of Kondo’s year.”It was a very exciting, very enjoyable experience for me,” she said. “I’ve been engaged so much in giving lectures, doing media appearances and so on.”She has also been engaged in motherhood, not a small thing when your passion since age 5 has been tidying. The unflappable Kondo still lives a tidy life, of course, but young kids have been a challenge.”I try to teach them how to fold clothes. Children are very close observers so I try to make it so they can watch me folding clothes,” Kondo said. “From time to time I do feel anxious. It’s not 100 percent. It’s not perfect.”last_img read more

first_imgListen 00:00 /04:00 Share To embed this piece of audio in your site, please use this code: Harvard professor and author Todd Rose recently talked about the idea of the end of averages in education at the Houston A+ Challenge speaker series.In school, students often get graded on a bell curve. Most of them land in the middle with an average grade.But Harvard University professor Todd Rose says that schools should learn from other sciences: that there’s no such thing as average. News 88.7 Education Reporter Laura Isensee talked with Rose about that and other education matters when he recently visited Texas as part of the Houston A+ Challenge speaker series.Here are three highlights from the conversation:Why is there no such thing as average: “It sounds like bumper sticker slogan, right? But it’s a deep idea from science, that when you use group averages around anything, it almost always represents next to nobody. It tends to be an artifact. We’ve based our society around this idea that there’s an average person when in fact there’s not.What other fields have gotten away from averages: “Most of our history we’ve thought there was an average pathway for most cancers, right? And we made treatment based on that. Now that we get away from averages there and focus on individuality, we’ve realized there’s always more than one pathway for any given cancer. And it’s allowed us to increase treatment and survival rates beyond what we could have ever done before.”What does personalized learning mean to him: “I’m a professor at Harvard now. But I also fell out of high school with a 0.9 GPA and ended up on welfare and married with two kids, working minimum wage jobs for a few years before trying to turn my life around. That turning my life around included getting a GED and believing in the redeeming power of education to change lives and life outcomes. My ability to change who I was as a learner and therefore change my life’s trajectory fundamentally came down to knowing myself, for who I was as a learner. It didn’t matter on average what people said learning should be like. I found very quickly if I didn’t know who I was, as an individual, I couldn’t make choices that were good for me.” Xlast_img read more

first_imgTribute Portfolio, part of Marriott International, announced its arrival in Hudson, New York with the opening of The Wick Hotel at 41 Cross Street. The original building was constructed in the mid-nineteenth century as a candle and soap manufacturing facility, before undergoing a meticulous transformation into a boutique hotel in the last year.  With its captivating design and 4-star service, The Wick is poised to highlight Hudson as a destination for global business and leisure travellers while supporting the independent spirit of the local community.“We are thrilled to debut a Tribute Portfolio hotel in Hudson, a city driven by a creative energy that lends inspiration at every corner,” said Jennifer Connell, Vice President, Brand Marketing & Management, Tribute Portfolio.  “We believe in seizing the moment to experience something new, to grow and expand, and we are excited to connect the community in Hudson with our indie-spirited design, sincere service and vibrant social scene.”Just a block away from the Amtrak station (HUD), The Wick is an easy two-hour train ride from New York City’s Penn Station, within easy reach of landmarks, such as Olana, Basilica Hudson and Hudson Hall, and just steps away from independent restaurants, art galleries, and antique shops.With 55 guest rooms, including seven suites, The Wick Hotel honors and elevates the building’s heritage throughout the design, mixing modern and industrial elements with original artwork from the Hudson River School. Details include the restored 1860s hardwood floors, denim-style wall coverings, candle-making patents and signature lighting. Original nineteenth-century Hudson River School landscapes by Thomas Cole, in reproduction with permission, hang in each guest room and the work of modern Hudson River School painter Jane Bloodgood-Abrams is featured in the lobby.Partnering with local craft beer, wine and spirits producers, The Wick serves a selection of unique signature drinks at the lobby bar along with locally-sourced light fare. The property also features a luxurious spa treatment room, fitness center, boardroom and event space, bringing a complete service offering to the market and unlocking business and mid-week travel to Hudson.last_img read more

first_imgSamsung plans to sell over 25 million Smart TVs this year, according to TV business chief Kim Hyun-Suk.The Korean consumer electronics giant hopes that half its total estimated flatscreen TV sales of 50 million units will be of internet-connected Smart TVs.Kim told journalists that a new model, the ES8000, with voice-recognition capability in 30 languages, enabling voice commands to switch-off and switch channels, as well as gesture-recognition controls, would be launched by the end of March.last_img read more

first_imgThe internet accounted for 71.8% of the UK’s entertainment revenues in 2015 compared with 28.2% for bricks and mortar stores, according to the Entertainment Retailers Association (ERA).However, the UK trade organisation’s latest research claims that the number of physical stores selling music, video and games has reached an all-time high of more than 14,800.DVD and Blu-ray discs were available in 14,852 stores in the UK last year, while CD and, or vinyl music releases were available in 14,727, according to the ERA.“Conventional wisdom has always suggested that the internet spelled the end for physical entertainment stores, but these numbers show that traditional retail still has a place, particularly for impulse purchases and gifts. After all, you can’t gift-wrap a download or a stream,” said ERA CEO Kim Bayley.“Just as the internet has demonstrated that accessibility and convenience are key to selling entertainment, physical stores are demonstrating that if you put entertainment in front of people, they will buy it.”Despite this, the ERA said in January that digital revenues from services like Netflix, Amazon Prime and Sky Store exceeded £1bn for the first time in 2015. It also said that claims that it is “almost certain” that video will become a majority-digital business in 2016, after digital video revenues grew by 30.3% year-on-year in 2015.last_img read more

first_img Gross profit (billions $) 14.7 Other 16.7 Addition of carriers. Currently, Apple has relationships with and supplies about 250 carriers in over 100 countries. However, there is significant potential for growth with telecoms that do not have relationships with Apple. China Mobile – China’s largest telecom with over 700 million subscribers – is a prominent example. We’ve concluded that adding carriers in emerging markets could provide Apple with an incremental 60 million units of iPhone sales annually. However, carrier expansion will likely be pushed out toward the back half of 2013 and into 2014. In the following calculation of gross profit for Apple’s iPhone segment for 2014, we have assumed a unit volume of 185 million. We’ve also modeled the impact that a low-cost phone will have on average sales price and gross margins. High customer satisfaction around other Apple products (iPods, iPhones, and iPads) creates a halo effect, which drives customers to Macs when they are ready to buy a PC. For these reasons, we think Apple’s Mac sales will continue to resist the overall trend, and at worst, remain flat for the next 18 months. We also foresee little change in average sales price and margins. Here’s our resulting forecast for the PC segment: Gross profit % 46 Units (millions) 18.2 The case presented above yielded earnings per share of $50.32 for fiscal year 2014. Currently, Apple’s share price multiple is about 10 times, well below the current market multiple of 18. This may seem too low; however, we think this is a good number to apply to our estimate. Multiples are usually a reflection of anticipated growth. Because Apple faces the law of large numbers, the market is apt to be perpetually nervous about its ability to grow, and therefore will continue to assign it a low earnings multiple. Nevertheless, 10 times our earnings estimate would result in a share price of $503, a return of about 25% in 18 months. This is by no means a spectacular return, but it is based on conservative projections. So it is, in our view, very achievable. What Will Move Apple Just as a stationary ball needs a push to provide it initial momentum, the undervalued stock needs a catalyst to fuel its price move. With Hewlett-Packard, a stock we recommended in the October issue of BIG TECH, one catalyst we foresaw was breakup speculation. Our thinking was that Hewlett-Packard had become so grossly undervalued, that it was only a matter of time before activist investors and Wall Street analysts began calling for a breakup of the company as a way to unlock shareholder value. That’s exactly what happened. We were also helped along by another catalyst: the Dell buyout news. When it was all said and done, our strategy yielded a 50% profit in just shy of five months. Never let it be said value investing is boring. With Apple, there are a handful of short-term catalysts that could send the stock higher. The ones that immediately come to mind are: The successful launch of a new product – such as the long-rumored smart TV and/or the iWatch – that catches fire in the marketplace. A deal to distribute iPhones with China Mobile, China’s largest mobile network provider with over 700 million subscribers. A sizable dividend hike and/or a sizable share buyback. On the flip side, a disappointing earnings report could send shares lower. But that’s probably baked into the cake. And besides, CEO Tim Cook will probably have some good news in his hip pocket (i.e., a big dividend hike) if he thinks earnings will disappoint. Of course, there’s always the possibility of a major market correction. If that happens, almost every stock will get hit. But since Apple is down big over the last few months, it will probably withstand a downturn better than most. Long story short, Apple possesses the characteristics we look for in a stock. Given its future earnings prospects, it looks undervalued, and it has multiple short-term catalysts. For these reasons, it looks like a decent buy at current levels. Bits & Bytes The Alibaba Phenomenon (The Economist) When thinking of e-commerce companies, Alibaba is probably not one of the first names that comes to mind… but that may soon change. Rumor has it that China’s e-commerce king is planning to go public, with valuation estimates ranging from $55 billion to more than $120 billion. That would make it one of the most valuable publicly traded companies in the world. Bitcoin ATMs Coming Soon (CNN Money) Bitcoins are taking a step into the real world, with an entrepreneur planning to introduce ATMs for the virtual currency. The Bitcoin ATMs will accept dollar bills and instantly convert the amount to Bitcoins and deposit the result in your account. Aereo Could Bring Down Broadcast TV (CNN Money) Aereo, an upstart online service which provides low-cost access to broadcast TV over the Internet, could be a huge step toward a future when programming options come à la carte, divorced from the expensive packages assembled by cable and satellite carriers. Tablets The tablet computer – a cross between a laptop, a smartphone, and a personal digital assistant – is not a new concept. Computer scientist Alan Kay began advancing ideas about component miniaturization, touchscreens, and WiFi technology way back in 1968. However, not until 2010 did any version of the tablet meet with meaningful commercial success. That’s the year that Apple launched the iPad. On launch day, 300,000 iPads were sold. Over the next year, more than 15 million were sold. The era of the tablet had arrived. Why did it take so long? Well, there were some attendant and powerful circumstances that prevailed in 2010 that either did not exist or were not sufficiently mature during earlier attempts to market tablets. Though inferior to the PC for content creation, the tablet is ideal for content consumption. Thanks to the advent of the Internet and WiFi and the spawning of thousands of apps, there is now a lot of content to consume. In addition, battery life has been extended from three hours on early versions of the tablet to over 12 hours on some current models, making these devices more portable and, therefore, more appealing to consumers. Those circumstances have driven astonishing adoption rates every year since 2010. In fact, the market for tablets has ramped up faster than any technology in history. 38.7 Personal Computers Much has been written in recent years about the decline in sales of personal computers (desktops and notebooks). As we all know by now, mobile computing devices are the cause. As consumers shift their time away from their PC to tablets and smartphones, they no longer see their PC as a device that they need to replace on a regular basis. According to Gartner, PC shipments peaked in 2011 at 364 million units, a 3.7% increase over the prior year. In 2012, year-over-year shipments decreased by 6.3%, and the slide is expected to continue in 2013 and 2014, with decreases of 7.6% and 4.1% respectively. However, Apple’s Mac division has experienced no such letdown; unit sales of Apple personal computers actually increased by 9% for the 2012 fiscal year. We think Apple is defying the PC trend for two main reasons: Apple serves the high end of the PC market. Because these high-end users are content creators, they are less likely to abandon the Mac for a tablet. Revenue* 108.3 Operating expenses* (Click on image to enlarge) This is not a fad. Rather, it is structural and will prevail for many years. Technology research firm IDC estimates that tablet shipments will reach 191 million units in 2013 and grow at a compounded annual rate of 16.6% for four years thereafter. Upon reinventing the tablet category in 2010, Apple dominated the market with a whopping 70% share. Since then, several formidable competitors have entered the fray, including Samsung, Amazon, and Microsoft. For the fourth quarter of 2012, Apple’s share had dropped to 46%, owing to the increased number of competitors and to Apple’s unwillingness to participate in a race to the bottom on pricing. IDC estimates that by 2017, the company’s share will drop to 43.5%. Conservatively, we have built our projections on the assumption that its share will be 40% for next fiscal year (September 2014). For fiscal year 2012, the average sale price of an iPad was about $531. However, in November 2012, Apple released the iPad Mini with a retail price of $329. Estimates are that the Mini will comprise 40% of total iPad sales. We estimate that that will lower the average sale price to about $450. Gross margin on iPads was 42.7% during fiscal year 2012, but the shift in sales mix to the Mini will put downward pressure on those margins. We estimate margins will fall to 38% for tablets in 2013 and stabilize at that level for 2014. Putting this all together, here is our projection for tablets down to the gross profit line for 2014: PCs Tablets Gross profit % 24.5 Apple units (millions units) 86 Gross profit % 38 When the market turns against a stock, watch out. Just ask Apple investors. From its peak just seven months ago, Apple is down over 40%. That’s an incredible move for a company of Apple’s size. Several factors have contributed to the decline, including: management departures, low-cost competition, and concerns that Apple’s well of innovation may have run dry with the loss of Steve Jobs. Each of these factors is cause for concern. However, healthy skepticism can quickly give way to a herd mentality, causing an overreaction in share price. Could that be what we’re seeing with Apple? To find out, we decided to take a look at the prospects for each of Apple’s major business segments. Smartphones Worldwide shipments of smartphones topped 700 million units in 2012, according to tech research firm IDC, an increase of 46% over 2011. Torrid growth is expected to continue; in 2013, IDC expects a 27% increase in smartphone shipments and another 17% in 2014, lifting sales to over 1 billion units annually. Analysts look for Apple’s smartphone growth to stay pretty much in lockstep with the market: fiscal year 2013 iPhone shipments are estimated to increase by about 25% (from 125 million to 156 million units), while a 19% increase is foreseen for FY 2014 (from 156 million to 185 million units). These estimates look very achievable and possibly even conservative. Here’s why: Introduction of a low-cost phone. In the US, Apple depends heavily upon a carrier-subsidized business model. Under this model, Verizon, AT&T, and other telecoms buy iPhones from Apple, then resell them to consumers well below their costs. In exchange for the discount received on the phone, the consumer signs a long-term contract (typically two years) with the carrier. In many regions outside the US, the subsidy model is not utilized. In order to penetrate the market in those regions, Apple needs a low-cost phone. Speculation has it that such a phone is on the way and will be introduced sometime around mid-year. In addition to driving growth internationally, an iPhone in the $300-$400 price range should help Apple capture share with non-contract (known as prepaid) US carriers. Pre-tax income* Revenue (billions $) 23.2 26.1 Units (millions) 185 Putting It All Together In the table below, we aggregate the information for the segments we discussed above. We add in the combined revenues from the iPod, iTunes, and accessories segments with the assumption that the iPod segment will decline at a 25% annual rate, while iTunes and accessories will increase at about a 12% annual rate. And finally, we assume that operating expenses and income taxes, consistent with the last two years, will be 8.5% of sales and 25% of pre-tax profits, respectively. 39.5 Income tax* Gross profit % 46.0 Refresh of iPhone 5. The iPhone 5 is due for a refresh. One is expected at mid-year, about the same time as the low-cost phone introduction. If that’s the case, it will be just in time for the upgrade cycle, as iPhone 4 customers who bought phones in the fall of 2011 will be coming off their two-year contracts and looking for new subsidized phones. It’s a safe bet that most of these customers will stick with Apple. A recent survey from Morgan Stanley and AlphaWise found that Apple leads the smartphone industry in customer retention. Among those surveyed, 83% of iPhone users said they plan to buy another iPhone. Total 63.8 Average sale price     450 23.2 Revenue (billions $) 108.3 Average sale price 585 Addressable market (millions units) 214 24.5 10.3 14.7 41.0 * Numbers in billions Gross profit (billions $) 5.7 Gross profit* 49.8 Average sale price 1,275 Net income* Revenue (billions $) 38.7 196.3 Smartphones 38.8 5.7 Apple share 40% 80.5 47.8 16.0 Gross profit (billions $) 49.8last_img read more

first_imgIn This Issue. *  Tapering is “all priced-in”. *  Summers says thanks but no-thanks. *  Retail Sales disappoint in the U.S. *  Gold manipulation whistleblowers. And, Now, Today’s Pfennig For Your Thoughts! Dollar Gets Sold Like Funnel Cakes At A State Fair! Good day.  And a Marvelous Monday to you! What a wonderful weather-wise weekend (how about that poetic use of alliteration so early in the morning!)  for us here in St. Louis this past weekend! We had our “block party” in the subdivision that I live in, so that was a good time, and the grandkids had a “dance party” at the house Friday night, so darn cute! Well, I came in this morning, turned on the currency screens, and what to my surprise! A currency rally! 2 days before the Fed will announce tapering to boot! So, what gives? Why would the dollar be getting sold now? Ahhh grasshopper, come, sit, and listen to a tale of what they call in the markets of an event being “priced in”. Apparently, traders came to the realization last night that the Fed’s tapering, is already “priced in”, and the only thing left is for the Fed to disappoint them, with the announcement of a small amount of pull-back, or a delay. So, the dollar is getting sold like funnel cakes at a state fair this morning. The other item that’s weighing on the dollar was the announcement this weekend that Lawrence Summers has withdrawn his name from the list of those wishing to be the next Fed Chairman.  OK. there are three things here that come to mind as to why Mr. Summers decided to pull out ahead of the nomination process. 1. He could have skeletons in his closet, and the confirmation process would expose those. 2. He got a glimpse of the Fed’s balance sheet, and decided that he didn’t want to be the one who’s name was attached to that mess. or 3. He read the Pfennig last week, and got scared.  So, actually, I think he took what was behind door #2, with #3 coming in close! So, here’s the skinny on why this news is bad for the dollar. You see, Summers was thought to have been a Fed Chairman that would favor tightening at a much quicker pace, and higher interest rates in the U.S. is what a lot of traders were looking forward to. On the other hand, Janet Yellen, the other person close to the nomination is thought to be “pro-growth”, which means interest rates would remain near zero longer.  And, before we go any further, you all know that I’m just having some fun with his reasons for withdrawing his name, right? So, there you go! Two reasons for the currency rally and dollar selling this morning! Let’s review very quickly. The markets came to the realization that they had already priced-in the Fed tapering this week, too far. and 2. Summers grabs his hat from the Fed Chairman ring. On a side bar. Wouldn’t it be something if Janet Yellen also withdrew her name as a Fed Chairman possibility? Then NY Fed Head Dudley would be next, and then he said thanks, but no thanks?  I doubt that will happen, as these Fed Heads are pretty egotistic, and probably believe that they “have the plan to save the world”.  And when they announce that plan to save the world, you might want to make plans to take a long vacation. The Emerging Markets took the Summers news as a sign that they too should rally, and rally they did!  The Indian rupee surged higher, and the Turkish lira made its strongest move in 2 years!  These wild swings is one of the reasons people get squeamish when it comes to investing in the Emerging Markets, which is why it makes sense to go into them with Principal protection, like that’ s afforded to the holders of our Evolving Markets MarketSafe CD, which by the way, we’ve brought back for another round. So, if you couldn’t pull the trigger on the first one, this is your last chance saloon. The best performing currency overnight is the Aussie dollar (A$) which is up over 1-cent this morning.  Knowing that the U.S. rates will be anchored for some time to come, is good news for the currencies like the A$, kiwi, and even the Brazilian real, for those interest rate differentials are really making a comeback as a key fundamental. And that puts a smile on my face. Reminds me a dentist’s card I saw many years ago. It had printed on the card: “Smile, it improves your face value”. Gold just can’t seem to catch a bid these days, and is down $10 this morning. Did you see the report last week from Goldman Sachs, that said they see the risk of Gold going below $1,000? OK. Quick Quiz. What have I told you in the past about Big Brokerage Houses’ Calls for assets? That they very well could be trading their book, or their future needs. In this case, the brokerage firm could be short the asset, and needing to buy it back at cheaper levels, So, they issue a letter to their clients and tell them what they see, in hopes of getting everyone to sell, thus cheapening the price of the asset, and then the firm can go in a buy cover their shorts, at cheaper prices.  Now, I’m not saying this is what this firm is doing right now. I’m just saying that we need to take these calls with a grain of salt, and see them for what they could possibly be. It’s funny, I saw this news story on the Bloomberg Friday morning, and the story below this one was one from HSBC (Hong Kong Shanghai Banking Corp.) “HSBC Lifts 2013 Gold Price Forecast on Higher Physical Demand”.  So, which one  of these stories are you going to hang your hat on? Me?  I think I’ll just keep a steady Eddie focus on owning Gold as a store of wealth, and not get caught up in forecasts! OK. The euro is much stronger to start the week at 1.3350 this morning. The German Federal Elections are next Sunday, and the only thing out there that could hurt the euro in these elections is IF the anti-euro party (AFD) wins 5% of the vote, and makes it into parliament. Right now the polls have then at 4%, which is where they will need to stay to keep the euro well bid next week. If the 5% level is achieved, I would think that the euro would take a hit. The Chinese renminbi / yuan is much stronger this morning as the Chinese Gov’t allowed a strong appreciation overnight. There was an article in the China Finance magazine that talked about how conditions in China have matured to further open Capital account. This is the stuff that I’ve been telling you was going to happen, folks. I love it when a plan comes together! But getting back to the renminbi movement. We saw these kinds of moves last spring too, when hot money flooded the Chinese markets, but then left when they got scared that China’s economy was going to shut down. When that didn’t happen, the hot money has begun to flow into China again. You see, interest rates “in China” are good, and we all know that interest rates sure aren’t good in the U.S., Japan, or Eurozone! And in Norway, the Norwegian August Trade Surplus narrowed to NK28.8 Billion from NK 35.3 in July. But this news wasn’t seen as bad for the krone. This drop in the Surplus isn’t new or surprising, as this data is very volatile. The chart on the Surplus looks like a chart for someone on a trampoline!  I think the thing to keep in mind the most here is that Norway has a Trade Surplus, and that’s something a lot of countries don’t have. And they didn’t need to weaken their currency to achieve this Surplus. Well, the data from last week was interesting, I’ll give it that! The Big Kahuna data print last Friday, the 13th I might add, was U.S. Retail Sales from August, which came in weaker than expected at +.2% (.5% was forecast). So, the Fed Heads have that on their minds as they begin to gather this week for a two-day meeting. The U. of Michigan Consumer Confidence report fell from 82.1 to 76.8. not a good thing.  Today, we get my two faves. Industrial Production, and Capacity Utilization.  Nothing that’s going to turn the dollar around today. For What It’s Worth. JMR Doug, sent me this link to the story on King World News. So thanks JMR  Doug! He said in his note to me, “Looks like the mainstream media will finally have to admit what you’ve been preaching for years Mr. Chuck.” So.. this was in King World News. Here’s the link to the whole story. And my snippet. In a stunning development, two JP Morgan whistleblowers have confessed that the bank manipulates the gold and silver markets.  This is truly a shocking admission by the courageous JP Morgan whistleblowers.  In a blockbuster King World News interview, London metals trader Andrew Maguire told KWN that the two JP Morgan employees came directly to him with hard evidence that the bank was actively manipulating the gold and silver markets.  This is a truly catastrophic event for JP Morgan, which up to now has denied manipulating these markets.  Below Maguire takes KWN readers around the world on a trip down the rabbit hole as he discusses how he led the two JP Morgan employees to turn over the evidence to a law firm which specializes in high profile whistleblowers, and also to the CFTC.  According to Maguire, the CFTC has virtually buried this information.  Is this a cover up, or the next LIBOR scandal about to be exposed? Chuck again. I like the fact that a major news outlet like King World News, ran this story. now, if the cable news stations would pick it up, we might get some traction. Other than that, this will die out again. But don’t worry, we’ll get plenty of coverage from the cable news stations on Miley Cyrus.  Speaking of her, I saw a very funny cartoon last week, it was Dr. Brown from the Back to the Future movies sitting in the DeLorean talking to Marty and the quote was: “Marty, we have to go back in time to help Billy Ray Cyrus from getting into “trouble”..  And make no mistake. I’m just reporting the story here. To recap. The dollar is getting sold like funnel cakes at a state fair this morning, as the markets realize overnight that they have already priced in the Fed’s Tapering, and the news that Lawrence Summers pulled his name from those being considered as the next Fed Chairman, thus leaving the nomination to Janet Yellen, who is a pro-growth Fed Head, and that means ZIRP remains in place longer, which is not good for the dollar. Currencies 9/16/13. American Style: A$ .9380, kiwi .8210, C$ .9710, euro 1.3355, sterling 1.5930, Swiss $1.0790, . European Style: rand 9.7570, krone 5.9090, SEK 6.5105, forint 223.75, zloty 3.1430, koruna 19.2855, RUB 32.26, yen 98.90, sing 1.2595, HKD 7.7540, INR 62.83, China 6.1554, pesos 12.91, BRL 2.2795, Dollar Index 81.14, Oil $106.64, 10-year 2.81%, Silver $21.73, Platinum $1,444.43, Palladium $704.20, and Gold. $1,311.03 That’s it for today. Lucky me! I came in this morning to find some chocolate chip cookies wrapped in foil that were left here for me from Kathy G, when she visited last week! What a sweetheart! My beloved Cardinals are hanging on, but need to get some separation from the Pirates and Reds. Markets could get pretty volatile this week with the Fed meeting, so be prepared to hunker down. Next week I’ll be in Houston for a visit to the oncologist and the other doctors at MD Anderson Cancer Clinic. It’s been a year, since my first visit there. I can’t express my gratitude enough to my beautiful bride who insisted that I apply to MD Anderson. Now, the goal is to NOT have to visit them any longer! Wouldn’t that be nice!  And with that thought, I’ll send you out to tackle this day and week. I hope you have a Marvelous Monday! Chuck Butler President EverBank World Markets 1-800-926-4922 1-314-647-3837last_img read more

first_imgIn This Issue. * Dollar fights back yesterday * But currencies try to rally again this morning. * Foreign Investment flows into India soar! * Money can’t buy you love, but Gold can! And Now. Today’s A Pfennig For Your Thoughts. Eurozone Starts Negotiations With A Tough Stance. Good Day!…  And a Tub Thumpin’ Thursday to you! I’m greeted this morning with a song from the late 70’s while Chris was dancing at a mixer to disco music, by Ambrosia. That’s How Much I Feel..  Yes, there was “other music” being made besides disco in the late 70’s. Chris and I always have fun claiming the other one liked disco music. But I KNOW I didn’t! Now, Chris? I think the possibilities are great!   Remember me whining and complaining about the lack of volatility in the currencies the past 3 to 4 years? Well, I whine no more! Volatility has returned, and the leader of the pack is the euro, which is trading with the most volatility that it has seen since 2011!  And that volatility has been brought to the euro by the goings on in Greece. Funny, isn’t it, that the last time we visited problems in Greece it was 2011. Hmmm.  So, since the euro trading is all about the goings on with Greece, we might as well take a stab at those goings on, eh?  Well, the rug was pulled out from under the euro’s rally yesterday. After a good start to the day, the news from the Eurozone / Greece meetings became very dark, and pulled the rug with a quick, strong yank! So for those of you who want to get into all this drama coming from the Eurozone, I’ll get into it. For those of you who could do without it, because life is so full of drama on a daily basis, go on and skip ahead. At its non-monetary policy meeting yesterday,  the ECB’s Governing Council decided to lift the waiver that allowed bonds issued or guaranteed by the Greek government to be eligible at the Eurosystem’s refinancing operations (you know the LTRO’s we’ve discussed and other forms of refinancing that is used)  despite their sub investment grade rating. As a consequence, such bonds are not eligible anymore as collateral to the ECB’s regular liquidity operations, starting from the maturity of the current main refinancing operation on February 11. So, the Greeks have to go back to the drawing board, and figure out if they want loans or not, because if they do want loans, and they’ll run out of money by the end of this month, they’ll have to accept and maintain austerity programs. The news on the Bloomberg this morning, say the Greeks are going to keep their “anti-austerity” talk. YIKES! Obviously, these are the opening salvos being thrown out to see where the negotiations start, but to me, this is going to get ugly, folks.  There are other things going on, that really get pretty hairy with their description of what’s going on, but in essence, this main point that I’ve discussed here, is what it all boils down to. So don’t let all that other stuff, about eligible or non-eligible get in the way of what’s important here. The euro got whacked on this news, but in reality, I would ask why?  Here is a governing body that represents 17 countries and they decided that one country has not done anything close to what they were asked to do, and now wants more, and the governing body, decided to say “no mas”. We won’t accept your bonds any longer, unless you agree to adopt our terms.  The great 70’s rock group, Foghat, had a song called. Take it or leave it.  Take it or leave it, tell me what you’re going to do.. Take it or leave it, now the choice is up to you.  I can’t wait until tomorrow, tomorrow may be too late. take all the sorrow, I can’t wait! I bet you’re wondering, where the heck does he come up with these bands? Foghat? Ahhh, grasshopper, Foghat songs were the soundtrack of many a party in the 70’s. Slow Ride, Fool for the city, Drivin’ Wheel, and so on. So there’s your Rock history for today.. A changeup was badly needed folks. Don’t you agree?   Today. believe it or don’t, the euro is rallying, along with the Aussie dollar (A$), N.Z. dollar / kiwi, Norwegian krone, and well, heck most of the currencies except the Chinese renminbi, and Gold. With the renminbi weaker this morning, what does that indicate the performance of Indian rupees will be? That’s right! If you were paying attention in class yesterday, I told you that these two currencies (renminbi & rupee) should in my opinion trade together, but in recent trading they move in opposite directions. So that means the rupee is rallying today. I have to say that one of the first things I check each morning, are the prices of Oil, Gold, the 10-year Treasury and the euro.  And this morning, I noted that the price of Oil had dropped again, losing the $50 handle, making the two-day run in Oil earlier this week a thing of the past, and I thought to myself, that the petrol currencies must be under pressure.  But then when I switched over the full currency screen I was stunned and amazed to see not only the Norwegian krone rallying, but too the Russian ruble, Canadian dollar / loonie, Brazilian real, and so on.  So, what gives with that? The price of Oil drops, but the petrol currencies rally?  Well, I’ll tell you sometimes you get ½ the answers and have to live with it. and this is one of those times. So, let’s just move along here, there are not the droids we’re looking for.   Getting back to the Indian rupee for a moment. I saw some stuff on the Bloomberg this morning regarding investment flows to India, which would go a long way toward the rupee rally. And investment flows to India and Indian Gov’t bonds in January were the biggest since last July. Recall that last July we had the euphoria in India about a new PM.   For those of you keeping score at home, foreign investors bought $464 Million more rupee-denominated bonds at the auction yesterday, and in January the total was $3.3 Billion!  The yield on the 10-year Gov’t bond is around 7.7% (for institutional buyers) That’s nearly 600 Basis Points greater than the same tenor U.S. Treasury.  Sure, India is no match to the U.S. as far as size, strength, and safety, but. 600 Basis Points would certainly make me think twice about opting for an investment in India. Now, I’m not saying you should go right out and buy Indian bonds. I’m simply pointing out why the foreign investment flows into India are strong right now, and when that happens, the rupee should be the beneficiary. There’s a report out this morning from Citigroup regarding Denmark, and I have to say I love it!  Citigroup says that it’s unlikely that Denmark will scrap the peg to the euro.  So, wait a minute Chuck, didn’t you say something opposite to that in the Daily Reckoning? (www.dailyreckoning.com)  Well, thank you for being on top of this!  Yes, I did say something opposite of that in the Daily Reckoning, but. You know me. Citigroup has probably dozens of researchers that contributed to this report, and here it’s just little old me.. So, when someone says something opposite of what I’ve said, I take it as they read what I said, and decided to prove me wrong. Yes, it’s a very myopic viewpoint, but what the heck! Now we have to wait-n-see who turns out to be right. Well, Gold can’t seem to find a bid again this morning. UGH!  The Beatles are singing “Money can’t buy me love” on the iPod, right now, and that may be true, but I bet Gold can buy you love! HA!  And then that song was followed by Pink Floyd’s song: Money.  strange how that all came about, eh?  Money, so they say, is the root of all evil today.  Notice they didn’t sing: Gold is the root of all evil today!  Silly stuff, I know, but so is watching the price manipulators take the price of Gold lower. Ed Steer’s daily letter just showed up in my email box, and clicking on it, I see the headline is: “Buy Gold and Short Federal Reserve, Says Marc Faber Once Again!”  Have I ever told you the story about me sitting on a panel at the New Orleans Investment Conference, the granddaddy of all investment conferences, and this is the first time I ever met him.  I was totally impressed with his ponytail, and then at one point of the discussion, he even told the crowd that they should listen to me.  So, now when I see something he has written or a video interview, I click on it immediately, for this guy must know what he’s talking about, he told people to listen to me! The U.S. Data Cupboard is gearing up for tomorrow’s Jobs Jamboree. Just the usual Tub Thumpin’ Thursday stuff for us today, like the Weekly Initial Jobless Claims, we’ll see if last week’s drop was a “true drop” or one that was a result of the week being short a day. Yesterday’s Data Cupboard, printed a weaker than expected ADP Jobs report. Hmmm. 230,000 was expected and only 213,000 printed. Hmmm. On a sidebar. I had the TV on yesterday while I was doing some reading, and the funny Geico commercial with Pinocchio as a failing motivational speaker was on, and it made me laugh, and immediately my mind began thinking about this. Pinocchio is asked to be a motivational speaker to countries.. And he begins by pointing to a country, like Japan, and saying “and you have a strong economy” and his nose grows, then points to the U.K. and repeats “you have a strong economy” and his nose grows, and then points to the U.S. and says, “I really see potential because of your strong economy” and his nose grows a foot!  Now, tell me how many people would have thought of that? For What It’s Worth. I have something different for you this morning. Just something else to think about. Thanks to dear reader Bob for sending along to me, and you can read the whole article here: http://www.theguardian.com/world/2015/feb/04/japanese-bank-introduces-robot-workers-to-deal-with-customers-in-branches “Japan’s biggest bank is preparing to unveil robot employees with a human touch. Nao, a 58-centimetre (1ft 11)-tall humanoid developed by the French company Aldebaran Robotics – a subsidiary of the Japanese telecoms and internet giant SoftBank – will begin work on a trial basis at one or two branches of Mitsubishi UFJ Financial Group from April. Depending on his performance, more robots could appear at other branches in the coming months. Equipped with a camera on his forehead, Nao is programmed to speak 19 languages. He analyses customers’ emotions from their facial expressions and tone of voice, enabling him to greet customers and ask which services they need. The 5.4-kg robot, who was “born” in Paris in 2006, lived up to his billing with a faultless interaction with an English-speaking customer, during a presentation in Tokyo this week.” Chuck again. WOW! Robots in bank branches! I doubt that it catches on here for many years, but in my opinion, if I was concerned about online banking before, I wouldn’t be now!  Where’s a good online bank I hear you asking?  Ahem. you’re reading this letter that’s sponsored by such a bank! To recap. Well, the playing nicely in the sandbox ended up with some sand being kicked in the faces and kids crying and pointing fingers at who started it. Germany opened the negotiations with Greece by dropping Greek bonds from the lending facility (LTRO) and the Greeks answered by saying they were keeping their anti-austerity stance. Needless to say the euro got whacked and led the rest of the currencies lower yesterday. But today is different, and the currencies for the most part are rallying, led by the euro.  The renminbi and Gold are down today, while the rest of the currencies dance. Currencies today 2/5/15. American Style: A$ .7805, kiwi .7390, C$ .7980, euro 1.1430, sterling 1.5245, Swiss $1.0780, . European Style: rand 11.4205, krone 7.5425, SEK 8.2600, forint 269.45, zloty 3.6520, koruna 24.2915, RUB 67.26, yen 117.35, sing 1.3460, HKD 7.7525, INR 61.73, China 6.1366, pesos 14.79, BRL 2.7295, Dollar Index 93.94, Oil $48.98, 10-year 1.77%, Silver $16.94, Platinum $1,246.48, Palladium $791.50, and Gold.. $1,260.22 That’s it for today. It’s a downpour outside this morning, so no going out to see the ocean while I wait for the review for me this morning. This is the first day that it’s rained in the early morning since I’ve been here. And it’s pouring outside!  So, how is your tax accounting going this year? Sorry to bring up such a nasty subject, but it something that has to be done once a year for most, so we might as well face up to it! Mine is not coming along too well, but that’s OK. it’s always a last minute thing with me! I have no idea what I started talking about that. UGH!  I guess I had a pain somewhere and that reminded me. HA!  Well, it was announced yesterday that two more baseball teams will play close to me down here. The Astros and Nationals are moving near here, which is a good thing. I had to laugh right now, I just saw a LinkedIn message that was featuring the story I had for yesterday from the CEO of Gallup, talking about how the Unemployment Rate is a fabrication. So, I run it one day, and LinkedIn runs it the next day. Hmmm. that has to be a co-inkee-dink!   Emerson Lake and Palmer (ELP) is playing their song: Lucky Man, on the iPod right now, this was the first song I remember hearing a synthesizer being played.  I used to play this song on my guitar, so those song are always special for me to listen to..  And with that. it’s time to go! I hope you have a Tub Thumpin’ Thursday! Chuck Butler Managing Director EverBank Global Marketslast_img read more

first_img Ex-Apple exec Scott Forstall is best known as one of Steve Jobs’s most trusted lieutenants, and a co-inventor of the iPhone. Forstall told the story of how he first met Jobs — and how Microsoft went to extreme measures to win him over instead — at an event at the Computer History Museum on Tuesday night celebrating the 10th anniversary of the release of the first iPhone. Circa 1992, Forstall had just gotten his graduate degree, and lined up interviews with two big tech companies: Microsoft, where he had previously been an intern, and NeXT Computer, the computer startup that Steve Jobs had founded after his ouster from Apple. A few minutes into Forstall’s job interview at NeXT, Jobs rushed in, pulled his first scheduled interviewer aside, and took over. Jobs “peppered me with questions,” says Forstall. The two talked for 15 minutes before Jobs seemed to make up his mind. “I don’t care what anyone says the rest of the day, we’re giving you an offer. Pretend you care in the interviews, though,” Jobs told Forstall. “I’m giving you an offer, and I know you’re going to accept it.” In this April 4, 1991, file photo, Steve Jobs of NeXT Computer Inc. poses for the press with his NeXTstation color computer at the NeXT facility in Redwood City, Calif.Image credit: AP ImagesAt that time, NeXT was already struggling financially. As Forstall noted, it had amazing technology, but very few customers. Still, as a young upstart, he was intrigued by the possibility of working for Jobs and the team of experts he had assembled. And so, he did indeed take the job at NeXT, and politely turned down an offer from Microsoft. Big fishThe very next day, a package showed up on his doorstep: A “very large dead fish,” on ice, with no message, but a return address on the Microsoft campus. This caused Forstall to freak out a little bit, and he called the Microsoft recruiter with whom he had been speaking.”You know, I watched movies about the mafia,” Forstall remembers telling the recruiter. “What the hell?” It turns out there was an innocent explanation. Microsoft thought that a deeper appreciation of Seattle and Washington state, where the company is based, might get Forstall to reconsider the offer. So the recruiter went to Seattle’s famous Pike Place Market, picked out the biggest fresh fish they could find, and had it overnighted to Forstall.Seattle’s Pike Place Market.Image credit: ShutterstockIt didn’t impress Forstall: “I will clearly change my mind because there are no fish in the [San Francisco] Bay Area,” where NeXT was based, he joked. “I did barbecue it that night,” he says. The postscript here is that Apple would go on to buy NeXT for $429 million in 1997, in a move that brought Jobs back to the company he co-founded, paving the way for him to become CEO. Forstall came along for the ride, leading the user interface team for what would become Mac OS X. When the iPhone project began, it was Forstall who was chosen to lead the iOS team. That one funny interview with Jobs ended up leading to much bigger things. Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Ex-Apple exec Scott Forstall is best known as one of Steve Jobs’ most trusted lieutenants, and a co-inventor of the iPhone. This story originally appeared on Business Insider Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. 3 min read –shares Image credit: Getty Scott Forstallcenter_img iPhone Add to Queue June 23, 2017 A Co-Inventor of the iPhone Explains His Funny Job Interview With Steve Jobs and the Time Microsoft Sent Him a ‘Very Large Dead Fish’ Matt Weinberger Next Article Enroll Now for $5last_img read more

first_img Elliott Management, which owns more than 4 percent of its stock, said in a letter to eBay that if it focused on its online marketplace, it could push its share price, which had been trading for around $30, to $55 or even more than $63 by the end of next year.In early trading Tuesday, shares of eBay Inc. jumped 9 percent.Elliott believes the Classifieds business has a potential value of $8 billion to $12 billion, with StubHub’s value at $3.5 billion to $4.5 billion. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Explore further This Jan. 14, 2015, file photo, shows signage at the entrance to eBay’s headquarters in San Jose, Calif. An activist shareholder is telling eBay that restructuring its business could help more than double its stock price. Investment firm Elliott Management, which owns more than 4 percent of eBay stock, said in a letter sent to eBay Inc.’s board that enacting the recommendations could lead eBay’s stock to be valued at $55 to more than $63 per share by the end of next year. The stock closed at $31 on Friday, Jan. 18, 2019. (AP Photo/Marcio Jose Sanchez, File) Citation: Elliott pushes for changes at eBay (2019, January 22) retrieved 17 July 2019 from https://phys.org/news/2019-01-elliott-ebay.htmlcenter_img © 2019 The Associated Press. All rights reserved. EBay 3Q profit rises 23 percent An activist shareholder says eBay would be better off without StubHub or its classified ads businesses.last_img read more