Issue #3 for jrmhp 6/6/2008 - 6/18/2008 feedjournal.com Cashing in on Same-Sex Wedding Bells (Portfolio.com: Culture and spend on average $20,000, racking up talked about," he explained. "It's easy couples. The boutique hotelier's Lifestyle) a total of $72 billion, according to to run up. You can go through that in Silicon Valley property Hotel bridal website theknot.com. But the a flash." Montgomery will donate 10 percent Submitted at 6/16/2008 9:00:00 PM potential for a deep-pocketed, Expanding existing business of any group block rate for same-sex A t Los Angeles' gay pride parade underserved market coming online in without alienating the mainstream is a marriage bookings to the Human June 8, a local radio station had a an economy where more straight common theme, even if you're taking Rights Campaign, a national gay- float emblazoned with a banner that couples may be thinking of pulling out full-page newspaper ads that rights advocacy group that is gearing read, "Welcome to the hell that is back their spending is undoubtedly seem to be congratulating same-sex up to fight a statewide constitutional marriage." The message was a cheeky attractive to vendors. couples. Less than two weeks after amendment initiative in November nod to the May 15 California The impact on California and the the California court decision, Macy's seeking to overturn the marriage Supreme Court ruling legalizing rest of the country could be made headlines in San Francisco and decision. marriage for same-sex couples, but it significant, says Betsy Stevenson, an Los Angeles touting its gift-registry The hotel group is also preparing an typified how quickly some segments assistant professor at the Wharton program in an ad that read, "First information packet for couples that in the business community are School who studies the tax comes love. Then comes marriage. includes courthouse times and other gearing up for same-sex nuptials, implications of marriage. She And now it's a milestone every specifics visitors may not know, such which began Monday evening. compared marriage in the Golden couple in California can celebrate." as the requirement that you must be Gay and lesbian couples are sure to State today to Nevada 60 years ago, Macy's spokesman Jim Sluzewski in California for at least 24 hours be ecstatic on their wedding days, but when that state's lax divorce laws resisted any suggestion Macy's was before getting married. the ones shedding the most tears of made it a destination for couples taking a stand on same-sex marriage, Susan Wilcox, the vice president of happiness may be California's looking to split. The revenue Nevada since all the company was doing was communications for the California wedding and honeymoon vendors. brought in encouraged other states to innocently running an "inclusive" ad Travel and Tourism Commission, put Will a change in law mean a bull change their divorce laws. "Once that promotes its registry, which has out a press release June 3 promoting market for big fat gay weddings? The California starts making money, other been open to same-sex couples for 15 venues beyond the traditional gay Williams Institute at the U.C.L.A. states will want to get into the game," years. "The fact that we are favorites that are also waiting to serve School of Law thinks so. The think Stevenson said. advertising a wedding registry is not the happy groom and groom, such as tank released a study June 9 showing San Francisco first saw the at all unusual," he said. "In the locations in Yosemite and the California's $6 billion-a-year wedding economic potential back in 2004. wedding business, everything is new Cascades. industry will get an infusion of $683 Thousands of same-sex couples were business." Figuring out if estimates are correct million over three years in direct married out of City Hall around For businesses rushing out to buy that marriage is a financial gain for spending by same-sex couples. Valentine's Day before the state put rainbow-colored paraphernalia and California is premature. "It's kind of Based on numbers in the kibosh on the renegade licenses bride-bride cake toppers in bulk in a hard to say what that will net out as," Massachusetts, where it has been and began litigation that ultimately bid to attract cookie-cutter gay Wilcox said, noting economic impact legal for resident gays and lesbians to led to this year's decision. Businesses nuptials, cool your heels, since same- numbers are "elusive statistics." But marry since 2003, the Williams in the city, which for years have sex couples are likely to be as in this case, there will be a paper trail. Institute estimates roughly half of catered to informal commitment individualistic as their straight "At least with marriage numbers California's 102,000 domestic ceremonies, were struck by a counterparts, said Tegan Firth of San we'll be able to tell who came and partners will get married, while "Flowers from the Heartland" Francisco's Hornblower Cruises & what they did," she said. "We will another 68,000 couples from outside phenomena, a movement in which Events. Her company has served know from the marriage licenses. All the state are expected to come and well-wishers ordered wedding same-sex couples for years, and in the of those statistics will be very celebrate their nuptials. The Institute flowers for same-sex couples they first 10 days after the court decision telling." thinks same-sex marriage should didn't know. Thousands of bouquets got inquiries from 15 couples, half But for D'Alessandro, his marriage generate 2,200 jobs in California, were distributed randomly to the from outside California. is more than just a statistic to him. "It bring in $8 million in marriage- throngs of couples waiting to get "Commitment ceremonies and now is a basic civil-rights issue," he said. license fees, and increase sales and married, a boon to florists in the city. same-sex weddings are going to be "The emotions are very powerful." occupancy tax revenues by $55 But this time around, the feeling is similar to other kinds of social Related Links million. A 2005 study showed that if that marriage will be more lasting, celebrations in the sense that it is a Commentary: The Price of same-sex marriage was legalized said Joe D'Alessandro, the president very unique experience for the Prejudice nationally, the wedding industry and C.E.O. of the San Francisco individual," Firth said. "A lot of times How Mark Zuckerberg is Like could generate another $2 billion Convention and Visitors Bureau. He the requests we receive are very Howard Dean annually. and his partner of nearly six years are specific to the couple." Reality Check: Ford Still Pro-Gay That's peanuts for the overall planning a 75-person wedding for Joie de Vivre Hotels is offering a Post-Boycott industry, since 2.4 million straight Labor Day, with a budget of about promotion that is designed to appeal couples get married each year and $10,000. "That's the ballpark we've to socially conscious gay and lesbian What Dave just did (Seth's Blog) persuasive. Isn't that worth trying? scarcity to create promotion. On the If you follow Dave's tactics exactly, Second, he rejected the idea of day a book is released, it's scarce. you'll certainly fail (at least with me), Submitted at 6/15/2008 10:41:00 PM having a 'real' publisher publish it. A Scarce because no one has read it yet. because it's already been done before. Dave Balter, an old friend and real publisher adds time (perhaps six That scarcity makes it more likely But, I have no doubt that variations colleague, has written a new book. It months or a year or two) and limits that someone will blog about it, on this method are going to get more costs $45 on Amazon. But, for my many of your options re: pricing, because it's a scoop. News. Cooler and more powerful. (You can read loyal readers...you can get a copy of distribution, royalties and promotion. still, he's not offering a copy of the my original free ebook--it was seven the ebook (the entire book) for free Third, he realized that the ideas in a book. Instead, he let me and a few (!) years ago-- right here. That book here. book are different than the book other people offer it exclusively. was a total homerun for me and for The way he is bringing his idea to itself. The ideas are free. Dave made No, this doesn't work if you haven't my readers--it has been downloaded, the world is instructive. the ideas even easier to share by worked with the blogger for years, emailed and purchased millions and First, he wrote a book. You should putting them into a PDF. If you want haven't earned a reputation and most millions of times. I'm surprised the write a book, too. Publishing a book the souvenir edition, the one you can especially, haven't written something tactic isn't more popular.) is easier than it appears (in some hand to a friend or read on the beach worth reading. In other words, it takes Find hundreds of other free ebooks ways, like the typing, typesetting, or store on your shelf, that costs a lot about six years of hard work to at changethis. I started changethis printing, and distributing part) but of money, but you don't mind, become an overnight success. So, if with some talented interns a few more difficult in others (like the because you've already decided you you're going to write a book in six summers ago, and because I'm not writing something worth reading wanted one (no risk, cause you've years, please start now and focus on involved with it any longer, it's cooler part.) Writing a book forces you to be read it!) hard work, breaking new ground and than ever. organized and passionate and Fourth, he figured out a way to use being a standup guy. 2 The 3-D Dilemma (Portfolio.com: Culture and 4,600 of the 38,000 theaters in the Lifestyle) U.S. have digital projectors, so many owners first have to fork out $75,000 Submitted at 6/16/2008 3:00:00 AM for those—making the total price Jeffrey Katzenberg, the newest close to $100,000. Theater owners champion of 3-D movies, is on a don’t want to spend that much money conference call with analysts. unless they know they’ll be able to Katzenberg, who runs DreamWorks fill the house. Animation SKG—the Glendale, Another hitch is the glasses. California, studio that made the Shrek (“They’re a little Buddy Holly, but films—is not happy. It’s April, and hey, we’re all in this together!” Fraser he’s been proclaiming for a year that quips.) So far, there is no standard 3-D is the biggest thing to hit that works with every 3-D system. Hollywood since color. He has vowed Real D relies on cheap disposable or that all his new animated movies will recyclable glasses, which could cost be in 3-D, which will add $15 million theaters or studios millions to stock. to the cost of each. DreamWorks’ Dolby uses expensive Monsters vs. Aliens is coming out glasses—around $40—that are next year, and Katzenberg was supposed to be returned at the end of hoping that 5,000 theaters would be 3 U.S. box office revenue up 5 percent C reating a 3-D movie today is every screening, but people inevitably -D-ready by then. Not happening. Not to $9.6 billion. But that’s unlike making one in any other era. steal them. “That is the fly in the even close. Maybe 1,500 will be unsupportable spin. The jump can be New software allows studios to ointment,” says Thomson, whose ready to show Katzenberg’s new film, almost entirely attributed to a bump render computer-animated films like theater chain is buying Dolby and this spells trouble for in ticket prices. The number of tickets Shrek in 3-D. And while shooting systems. “You have to get the glasses DreamWorks. “Things have dragged sold in the U.S. stayed flat from 2006 live action in 3-D was virtually back or you lose your ass.” along, and it’s been pretty to 2007, at 1.5 billion. (In 1950, while impossible just a few years ago, You can see where this is going: disappointing,” he says. He knows TV was taking off, U.S. theaters sold technology developed by Vince Pace, Theaters don’t want to invest until that if 3-D doesn’t hit big, he’s going 3 billion tickets a year—and the who previously specialized in Holly•wood does, and Hollywood to look like the guy with 10,000 population was half what it is today.) underwater cameras and worked with doesn’t want to invest until theaters unsold Segways in a warehouse. ( Meanwhile, 379 screens were added Cameron on Titanic, has made it do. Once both invest, the industry View a pop-up graphic showing some between 2006 and 2007. Do the math feasible. (Cameron even helped hopes to create a positive- of the biggest 3-D blockbusters and and movies are doing worse than ever develop some of Pace’s technology.) reinforcement cycle. bombs.) in theaters. Dual-lens cameras mimic the way Anschutz invested in both the Not far away, in Los Angeles, Cary This stuff gives Hollywood agita. eyes capture an image from slightly chicken and the egg. He funded Granat, the co-C.E.O. of Walden Publicity campaigns and the buzz different angles. Computers then Journey to the Center of the Earth 3D Media, is in his own 3-D nail-biter. from theatrical releases are what digitize the images, allowing through Walden, which he controls. Walden’s Journey to the Center of the drive DVD sales and premium-cable- directors to manipulate them. This He also owns Regal Entertainment Earth 3D—which is basically Indiana channel showings, not to mention technology has become workable Group, the world’s largest movie- Jones Goes Spelunking—will be the ancillary moneymakers like toys, only in the past few years, and it's theater chain, with more than 6,000 first major live-action digital-3-D videogames, and Happy Meal tie-ins. quickly getting better and cheaper. screens. Regal has installed more release when it comes out on July 11. “We make films for the theater and When images captured by Pace Real D systems than any other He hoped to open Journey in 1,700 want to exhibit there first,” says cameras are projected onto a screen, operator. Anschutz was also theaters, but only about 1,000 are 3-D Chuck Viane, president of movie the overlapping images look slightly connected to Real D. Joshua Greer, -ready. distribution for Walt Disney Studios blurry to the naked eye. But when a its president and co-founder, started Far, far away—northwest Motion Pictures. “It’s the engine that viewer puts on special high-tech developing the 3-D-projection system Arkansas—Mike Thomson, vice pulls the train.” glasses that direct one image into while he was an executive at Walden. president of operations and Hollywood hopes that 3-D can each eye, the brain unites the two “We didn’t want Walden to be in the technology for Malco Theatres, pulls stoke that wheezing engine. pictures, creating a single 3-D image. business of selling a 3-D system to his truck up to a McDonald’s drive- Katzenberg is making the next Shrek In a screening room at Walden theaters,” Granat says. “So Josh took through. For 43 years, he’s worked in 3-D, and Pixar Animation Studios headquarters, I watch Journey to the the project out of Walden and built for Malco, which manages more than is rendering the first two Toy Story Center of the Earth 3D wearing giant Real D with knowledge from 320 screens, and he speaks with the movies, as well as making the next glasses that look like something Walden.” weariness of someone who has seen one, in 3-D. Director James Cameron you’d see on a 90-year-old man in To recap: Anschutz stands to make innumerable fads come and go. ( Titanic) just finished shooting Sarasota, Florida. The 3-D is money both by showing Journey in Thomson believes in 3-D too, but Avatar, a 3-D movie planned for compelling and easy to watch. Later, theaters and on the film itself. Plus, clearly not with the zeal of 2009. Peter Jackson, who directed the I talk to Brendan Fraser, Journey’s he had a role in the birth of Katzenberg and Granat. Malco is Lord of the Rings films, is bringing star and executive producer. “I’m technology that other theater chains upgrading a handful of its theaters for the comic-book character Tintin to very enthusiastic,” he says. “This are likely to buy and install. Anschutz digital 3-D, yet he sounds cautious. the screen in a 3-D movie. Director picture is the tippity-•top of the spear has the chicken, the egg, and the “We need to give people something Robert Zemeckis ( Beowulf, Forrest of what’s coming. I want to be an old chicken feed. they can’t get at home,” he says, Gump) is already filming his guy and say I was on the tip of that "I wish I could say the movie theater reflecting an industrywide worry that adaptation of Charles Dickens’ A pointy spear and helped drive 3-D experience will never go away, but borders on panic. “3-D is a piece of Christmas Carol in 3-D. Every major forward.” When I suggest that he I’m not sure,” says Jonathan Kuntz, a the puzzle, but it’s not the magic studio has leaped aboard. might someday be known as the Al film-history professor at the bullet.” When anyone questions whether Jolson of 3-D, Fraser guffaws and University of California at Los Thomson drives off with his such faith in 3-D is justified, asks if he can use that line in Angeles. It’s not just home theaters McGriddles sandwich, and the movie Hollywood puts forth Exhibit A: interviews. that are competing for consumers’ industry perches on the edge of its Hannah Montana/Miley Cyrus: Best But whether Fraser gets to be the time. Audiences are being pulled collective seat. This story might not of Both Worlds Concert Tour. The Jolson of digital 3-D depends on away by other forms of entertainment turn out the way Hollywood Disney 3-D concert film shattered whether 3-D spreads the way talkies too. They’re increasingly logging on imagined. records for a limited release by did in the late 1920s. This is where to YouTube and Facebook, playing S tudios are latching onto 3-D for grossing almost $45,000 a screen reclusive billionaire Philip Anschutz Guitar Hero and World of Warcraft, much the same reason that Bob Dole when it was released early this year; enters the scene, trying to save the instant messaging, and blogging. took Viagra. Most of Hollywood’s it made more than $30 million during day. Consumers will do something that’s businesses are making money—for its opening weekend. T here’s a chicken-and-egg problem inconvenient to have a high-quality all Katzenberg’s complaining, But Disney can’t be sure whether with 3-D movies: For them to achieve experience—like go to a U2 concert. DreamWorks’ first-quarter profit was Hannah killed because it was in 3-D. mass-market success, studios must And we’re willing to put up with up 69 percent—but the sector that According to Viane, relatively few deliver a stream of blockbusters. But lower quality for the sake of makes Hollywood feel best about theaters could show digital 3-D when if too few screens are equipped for 3- convenience—like listen to a U2 song itself, theatrical showings, is the movie came out, which meant that D, there’s little point in spending the on an iPod. But we’re not that deflating, in large part because the it played on only 683 screens. “If we extra 20 percent it costs to shoot in interested in something that is both difference between seeing a movie in had done it in 2-D and opened on the format. inconvenient and of not-so-great your local multiplex and on a 52-inch thousands of screens, would we have Furthermore, to show digital 3-D quality. Movie theaters are high-definition TV in your family made more money? Hard to say,” he movies, theaters must install a inconvenient (you have to leave the room is not that vast. says. “More screens typically mean system, typically from one of the two house), and the experience isn’t much The Motion Picture Association of more gross.” Malco’s Thomson is main suppliers, Real D and Dolby better than that of a nice home America claims that 2007 was a good more direct: “ Hannah would’ve been Laboratories. A 3-D system can cost year for the cinema business, with huge, in 3-D or not.” $20,000 or more. What’s more, only 3-D page 12 3 Happiness Is ... (Portfolio.com: Culture and world, including the U.S., have long economist, it doesn’t make sense.” provide a large part of the answer. Lifestyle) made maximizing the gross domestic If you believe Stevenson and What many people care about most is product—a measure of all the goods Wolfers, the traditional focus on not the dollar amount of their income Submitted at 6/16/2008 3:00:00 AM and services produced in the G.D.P. makes eminent sense. Using but their income relative to the I f you went out into the street and economy—their overriding economic new data from a 2006 worldwide income of others in their peer group. asked people at random how happy goal. survey by Gallup, they find the As H.L. Mencken put it many years they were, what do you think you The problem, if you buy into the correlation between income and life ago, wealth is any income that is would find? That the healthy are argument of Easterlin and his satisfaction is 0.82, which seems $100 more a year than the income of happier than the sick? True, although followers, is that the endless pursuit impressive. (One represents perfect your wife’s sister’s husband. A recent not by as much as you might think. of higher G.D.P. is largely self- correlation; zero is none.) example comes from the former East Young people are happier than the defeating. People in nations with In a discussion session following Germany. During the 1990s, living middle-aged and the old? higher G.D.P.’s don’t get Stevenson and Wolfers’ presentation standards there rose sharply, but False—happiness is remarkably continuously happier. As a result, of their paper at Brookings, Nobel reported happiness fell. The likely stable over the life cycle. Religious governments might be better advised Prize winner Gary Becker praised the explanation: After decades of people are happier than nonbelievers? to concentrate on things that actually paper warmly, and former Treasury belonging to the decrepit Soviet bloc, True, at least according to researchers do have an impact on happiness, such Secretary Larry Summers, who is East Germans began comparing in happiness economics, a rapidly as maintaining stable families and now back at Harvard, said it had themselves with West Germans. growing field that relies on opinion friendly communities, reducing appended the conventional wisdom of Also, as people become richer, they surveys rather than on government joblessness, providing adequate the happiness school. quickly grow accustomed to bigger statistics to measure well-being and health care, and guaranteeing more But is that really the case? Gallup houses, more powerful cars, and trace its causes. personal freedom. In his 2005 book, asked people to imagine themselves better-made clothes, but their In April, at the Brookings Happiness: Lessons From a New on a ladder with steps numbered from possessions don’t make them much Institution in Washington, two Science, Richard Layard, one of zero to 10, with the bottom of the happier. We humans are trapped on a enterprising young economists from Britain’s leading economists and a ladder representing “the worst hedonic treadmill. The faster we try Wharton, Betsey Stevenson and member of the House of Lords, possible life for you” and the top to get ahead, the quicker we end up Justin Wolfers, addressed the age-old advocated just such a policy shift, representing “the best possible life for back where we started. Studies show question of what money can and can’t saying, “We should monitor the you.” The respondents were then that even lottery winners, after an buy. Drawing on a wide variety of development of happiness in our asked to say which step they were initial period of adjustment, don’t surveys, the duo claimed that rich countries as closely as we monitor the standing on. If you instruct people to become much happier. people are happier than poor people, development of income.” think about the best possible and Fortunately, Helliwell and other rich countries are happier than poor I asked Layard if the promotion of worst possible lives they could be researchers—even taking into countries, and as countries get richer happiness is a practical agenda. “Oh, living, you are surely inviting them to account rivalry and they get happier. Within weeks, yes,” he replied. “We’re very busy at compare their living standards with habituation—have identified some newspapers around the world had it here in Britain.” Many British those of people elsewhere. This things that make people feel better, picked up on the findings, and government departments already have methodological quirk alone could such as getting married, being Wolfers was appearing on CNBC to well-being divisions, and the Office •easily •explain why residents of poor employed in a secure job, having a brief viewers. for National Statistics, which tracks countries report low scores and full social life, and playing an active Why all the fuss? Stevenson and Britain’s G.D.P., is gathering more residents of rich countries report high role in the democratic process. Not Wolfers’ paper runs counter to a large information about subjective well- ones, and it wouldn’t have anything very long ago, quality-of-life issues body of evidence suggesting that, being. Last year, the British to do with money making people like these were largely beyond the especially in rich countries, economic government, led by Gordon Brown, happier. purview of economics, and I, for one, growth has failed to translate into allocated more taxpayer money for The Gallup survey is just one of was of the mind that economists greater subjective well-being. In the mental health programs, which can many. Others show a much weaker should stick to things they know United States, the first happiness have a big impact on reported link between income and life about, like inflation and interest rates. surveys were carried out at the end of happiness. satisfaction. Using data from the After delving into the happiness World War II. Sixty years later, Other European countries are World Values Survey, which dates literature, I’ve changed my view. despite the fact that people’s inflation following Britain’s lead. Frustrated back to 1980, Stevenson and Wolfers In poor countries, where billions are -adjusted incomes have quadrupled, with what he called “the growing couldn’t identify any statistically struggling to eke out an existence, reported happiness levels have hardly gap” between official economic significant relationship between economic growth is the only route out budged. statistics and daily reality, French movements in G.D.P. and changes in of poverty and degradation. In rich The U.S. isn’t alone. “In China, president Nicolas Sarkozy recently life satisfaction. “I can’t say I’m countries, though, it may be time to between 1990 and 2004, per capita appointed a high-level commission to absolutely certain that greater growth supplement G.D.P. with other income went from 5 percent of the explore ways of quantifying in income causes greater happiness,” measures of progress. In his book, U.S. level to 16 percent,” says happiness and well-being. The Wolfers concedes. “And you can’t Layard calls on governments to Richard Easterlin, an economist at the European Commission is also say for certain that greater growth promote •family-friendly policies like University of Southern California and working on new economic indicators doesn’t produce greater happiness.” flexible work hours and more one of the founders of the happiness that will incorporate nonmonetary Maybe not, but I can say for parental leave and subsidize school. But happiness over that factors such as environmental sure—because Wolfers and organizations that promote period stagnated. “Life satisfaction, if progress into economic Stevenson confirm it—that as people communities, such as sports leagues anything, seems to be declining. decisionmaking. and countries grow richer, each extra and good public schools. With more India, Chile, Turkey, Ireland—all of Here in the U.S., though, the dollar of income buys less and less research and a bit of imagination, them show little or no improvement happiness school has made less additional happiness. A $100 rise in economists should be able to augment in happiness or well-•being despite headway. “The political average income in Jamaica, for this list. What could be more rapid economic growth.’’ establishment is much more pro- example, has three times the impact important than promoting happiness Stevenson and Wolfers argue that economic growth, and it doesn’t like on measured happiness as a $100 and well-being? As utilitarian countries like these are exceptions to this subjective well-being stuff,” increase in the U.S. Moreover, other philosopher Jeremy Bentham pointed the rule. “Our results suggest that Easterlin says. “There is a feeling it is economists, including John Helliwell out two centuries ago, the answer is economic growth is a very powerful promoting welfare-state ideas such as of the University of British Columbia, nothing. John McCain and Barack force for raising well-being,” Wolfers families, health, and other human have shown that nonmonetary factors Obama, take note. says. “It is not true that only income concerns.” Also, despite the survey like working conditions appear to Related Links matters, but on average it looks like evidence, many economists refuse to have a much bigger impact on Do Happiness and Economic economic growth is good for accept that money and happiness happiness than income. “What we Growth Rise, and Fall, Together? happiness, even in rich countries.” don’t go together. “People who have really care about is how big the effect Broken English The new paper galvanizes an more income have more of income is on well-being,” The US Economy Reaches a Fork important debate about the purpose opportunities,” Alan Krueger, a Helliwell says. “The answer is it’s in the Road and effectiveness of economic Princeton economist and an authority small relative to other things.” policy—and about what has been the on the measurement of well-being, Why is the relationship between economic status quo for more than six said. “How can you find that they are money and happiness so decades. Governments around the less happy? To an orthodox complicated? Rivalry and jealousy Talk of the Nation on Procrastination (43 Folders -) The Talk of the Nation that’s on expert Timothy Pychyl and self- while, you’ll remember John Perry right now (available for streaming professed “structured procrastinator” for his excellent piece on “ Structured Submitted at 6/12/2008 12:13:26 PM later) is on the topic of John Perry discuss the latest research Procrastination.” Great stuff. How to Be a Productive procrastination. on this type of behavior and how to Procrastinator : NPR(Talk of the Why do today what you can do the prioritize what’s really important. Nation) day after tomorrow? Procrastination If you’ve been around here for a 4 MobileMe: .Mac's iPhone-Friendly Replacement (43 Folders -) and Contacts, in particular. Kudos, don’t know details of what team. An iPhone that makes functionality is exposed to Submitted at 6/9/2008 3:16:34 PM MobileMe easy and transparent to use developers, I have to imagine that the Apple - MobileMe is a big win all around. (N.B.: as you combination of ingenuity, There’s lots to digest from today’s might expect, Apple’s site has many entrepreneurship, and speedy 3G WWDC Stevenote— not least of lovely demonstration videos in their access will bring some much-needed which was the dramatic MobileMe section) competition into Apple’s back yard. I announcement of a 3G iPhone for • Love the “Push”- No longer wonder how Apple will react to that. only $199. But you’ll be hearing lots having to physically plug in your Bottom Line about that in a million places. I want iPhone to sync stuff like Mail, Boy, if there’s any product that us to talk about my first impressions Calendar, and Contacts is terrific for fanboys want to love, this is it. But about something even closer to my the multiple-device user. Knowing it’s been a tough few years, even for heart that’s at least different this time that (at least as long as you’re online) hoping to see something more the superfans. We’ve watched half a around, if not entirely new. everything matches up just means big impressive with iDisk this time dozen or more other companies’ Today, Steve announced the peace of mind to me. Maybe most around — like a website with honest services build similar or better upcoming release of Apple’s importantly, one hopes that the new to gosh, Google Docs-like editing and features, provide higher reliability, MobileMe service, which will replace Push approach addresses some of the management. And what about the and charge lower or zero cost in a the existing.Mac service at the same previous sync problems that have iPhone? Can I do anything with my way that seems to outpace Apple’s price of $99/year for an Individual plagued .Mac users ( Nuclear reset, iDisk documents on there? That feels offering without breaking a sweat. account, while adding some new anyone?). like a swing and a miss for a service So, I’m really looking forward to features, including: • Love the (baby) steps toward true with mobile in the name. getting my hands on this and • Individual account quota doubled cloud computing- Having such Questions reporting back to you on how it’s to 20GB of storage, including email gorgeous and functional apps on the • Will stability and reliability of working for me. I want it to work and files (.Mac currently offers 10GB iPhone is a big step in the right MobileMe greatly improve over great, and I think it can, based on at the same price) direction. How the services that those .Mac? Take everything else away, Apple’s high standards and ability to • MS Exchange-like “push” syncing apps access evolve will be interesting and at the heart, any .Mac/MobileMe control all the pieces. I also stand by between applications on multiple to watch; adding something like product will not survive if Apple what I said in this post from January Macs as well as your iPhone, via the broader support for Preferences doesn’t fix the uptime and sync about the untapped possibilities of MobileMe “cloud” syncing and better/easier iPhone problems. I know sync is hard. But, .Mac: • Revamped, web-based Me.com password management would also be lots of things are hard and when other …Apple might eat the lunches of versions of Mail, Contacts, Calendar, big wins. companies are doing it more reliably about three different industries over Gallery, and iDisk applications • Hiya, Windows hold-outs- I don’t and for free, it should be easy to see the next couple years. As someone who’s had strong know enough about “Enterprise” there’s a bar consumers expect you to If they can pull it off, if they can fix feelings, high hopes, and occasional buying decisions to speak reach. .Mac, and if they have the vision to re disappointmens with .Mac, I’m going intelligently about business adoption, • How will iPhone additions like -imagine themselves as the company to spend some time over the next few but I will say that MobileMe seems Push and GPS affect real battery life? who makes your entire digital world weeks looking into what these like a smart way reach out to If Steve’s battery estimates are safe, fun, ubiquitous, and flawlessly changes will mean for the always-on individual Windows users and say, anything like real-world, it’ll be integrated. knowledge worker — particularly “See? Look how easy this all is!” great. But I have a feeling those are Please share your thoughts, hopes, now that the service is clearly moving Similarly, a lot of people I talk to CandyLand Gumdrop numbers. I wishes, and remarks about MobileMe toward tighter integration with these days are down to a single realize this is an iPhone-specific note, or anything else related to the iPhones, the iPod Touch, and web- Windows device, and that’s the one but I’ll say that a half-day of “Every Keynote announcements here in based usage. But first, just a few they have to use at work. MobileMe 15 Minutes” email checking was an comments. things to note here (quickly and on potentially keeps them connected to eye-opener for me. I can’t imagine [These were quick notes I jotted this first impression): their Apple world, even when they’re what kind of power that thing pulls afternoon. Pardon any typos; I will • Lovely tweaks- This is where on a PC. That said…. when it’s running full-time GPS for fix them as I see them, as well as Apple just obliterates the • Where the heck is a modern, an hour or so. giving myself a day or two to add competition; all the tiny little changes functional iDisk?- It looks like the • Ready for some competition? With links on other coverage as it arises. I we saw to GUI and workflow on the iDisk web interface has been updated the introduction of independent have a feeling a lot of people will be MobileMe web apps and related (very pretty, actually), and yeah, applications using the iPhone SDK, talking about MobileMe] iPhone apps reflect a lot of thought there’s double the storage, but what we can look forward to a bonanza of and look well-suited for real-world can I do with all that stuff when I’m new functionality that — based on the usage. I can’t wait to see the not in front of my home computer? game demoes we saw today — could improvements to iPhone’s Calendar Where’s the mobile part? I was really be pretty eye-popping. Although I Cracking the China Code (Portfolio.com: Top 5) a-half years — compared with almost world. between tradition and transformation five years in the Europe and the (An excerpt of her talk with in the 5,000-year-old culture. This Submitted at 6/17/2008 11:00:00 AM United States. Portfolio.com can be found here). includes a rise in using blogs, chat C hina’s $60 billion advertising The No. 1 reason Chinese clients The study busts the myth that rooms, and other interactive branding market is the third largest in the gave for seeking a new agency is a Chinese marketers are playing catch- technology as an outlet for social world. Yet according to a new study lack of creativity (in the U.S. it’s a up with the rest of the world. Goh expression. by R3/Grupo Consultores, few dissatisfaction with service). In fact, says she found that China is actually According to the study, the most marketers have a true understanding 85 percent of Chinese advertisers said playing leapfrog, bounding past dynamic multinational brand in China of what it takes to build brands in the that creativity matters most — more conventional global marketers in is Coke. fastest-growing market on the planet. than anywhere in the world. some areas. The most admired is Procter & Over a two-year period ending in The survey said that most brands This is best exemplified with the Gamble. March of 2008, R3/Grupo look to multinational agencies for phenomenal growth of mobile phones Daniela Riccardi, greater China Consultores surveyed more than 500 high level creative, and local shops as a means of communication – and a president of P&G, said her company's advertisers and more than 100 global for a better understanding of the prime advertising opportunity. China status should be no surprise. Procter and independent agencies working in complex and varied Chinese Mobile, the world's largest cellular will be celebrating its 20th year of China, which only re-legalized demographic, which is to be expected provider, has 530 million subscribers, having an advertising presence in advertising in 1978. in a country 102 cities of more than a and it adds as many subscribers each China this August. That is about eight The results, discussed at the Cannes million people, and still a 70 percent month as there are people in Portugal. times longer than most ad International Advertising Festival this rural population. “The first button a child pushes in relationships there. week, have broad implications for Also of note is the finding that China today isn’t the television, For an interactive map of Cannes future marketing efforts with China, project-based, rather than fee-based radio, or computer; it’s the mobile,” parties, click here. Related Links and perhaps are harbingers of future compensation for work is more Goh says. She predicts the world will On Cannes: Cracking the China ad trends in the rest of the world. common in China than anywhere soon be playing catch up to China Market One surprising finding: In a country else. This is trend that ShuFen Goh, when it comes to mobile advertising. China Comes to a Boil where marketers strive to elicit Principal of R3 Asia Pacific, feels In addition to grasping mobile’s jaw Mr. Paulson Goes to China loyalty from consumers, the average could be related to the premium -dropping potential and the client/agency relationship is the placed on creative and will become importance of creativity, advertisers world’s shortest at less than two-and- more prevalent in the rest of the in China should also note the tension 5 Almost Like Being There (Portfolio.com: Culture and avatars. And it is making the games with shots virtually before trying the M.D.A. Lifestyle) in Flash, so they will be available to a them for real. W.T.G. is pinning additional far wider audience of players—for "A lot of our golfers are going to advertising hopes on a social- Submitted at 6/16/2008 9:00:00 AM free. want to do that," Cheng claims, networking component, which lets A t the 17th hole on Kiawah Island Nelson, World Golf Tour's which is why the company has built players create online profiles, post Golf Resort's challenging Ocean president and co-founder, conceived into its contracts the ability to offer blog entries and videos of shots, and Course, the foursome paused. The the game in early 2006 while golfing discounted rates at the resorts. send friends a news feed with Atlantic Ocean can be seen from in Italy. He and Cheng had sold their It's not the only way they're hoping information like scores or how to do many of the raised greens, but on this PC game-development studio, to bridge the gap between the real and better on a hole. hole, all eyes were on an adjacent WagerWorks, to IGT for $90 million virtual worlds—and to make money. Relatively speaking, the cost of pond—and its resident alligator. Chad the year before, and he wondered The founders see three main revenue building this game is low. It takes Nelson joked to YuChiang Cheng why there were no good online golf streams from the game—product roughly six months and $200,000 to that a Kiawah pro had suggested not games. placement within the game, ads on make one World Golf Tour course going after any lost balls, then pulled Since the pair knew they didn't the site, and partnerships with simulation. (They've already out a 3-wood and chipped his over want to be just another game television broadcasters and major golf completed four of the 10 licensed the drink. Cheng followed suit. developer, they decided to come up events. courses through investments from Cheng, C.E.O. of San Francisco- with a new business model, one that When it is released to the public Series A lender Battery Ventures and based videogame maker World Golf would combine online distribution, late this summer, W.T.G. will allow Series B leader Panorama Capital.) A Tour, has never been to South advertising opportunities, and virtual players to create their own avatars next console game, like Tiger Woods, Carolina. But he's played Ocean sale items. And the game couldn't be that can wear (sponsored) clothing can cost upward of $10 million for its Course hundreds of times. It is one of like its predecessors—Flash-based and use virtual versions of real initial creation, slightly less to dozens of premier resorts that the golf experiences at the time were like (sponsored) golf equipment. Last develop sequels. start-up has recreated in what the the miniature golf of videogames. May the company released a scaled- Michael Pachter, videogame analyst founders call "2 ½-D" in an effort to "We're going for a true golf down version of the game, a "skills for Wedbush Morgan Securities, says become a new gaming heavyweight. simulation," Nelson says. "Things challenge" with a few holes from the E.A. sells an average of 2.5 million For years, the virtual-golf scene has like course management—where you Las Vegas Bali Hai Golf Course; for copies of the Tiger Woods golf game been dominated by Electronic Arts, place the ball, type of clubs and monthly competitions it has been annually for PCs, consoles, and the world's largest independent game stance you use, how you use spin offering real-world prizes from handheld game devices. He believes a publisher. E.A. Sports' Tiger Woods control—has an impact on the game." TaylorMade. free Flash-based PC game could PGA Tour franchise has sold more In October 2007, the company As it completes work on its slate of attract 10 times the players, but won't than 26 million copies since it was unleashed a dozen technicians, courses for this year (the game be much of a threat to successful first released in 1998. Much like programmers, and photographers onto officially launches in late summer, console games—at least not for Woods, it has squashed the Kiawah's Ocean Course, to with nine new holes being released several years. competition: Microsoft's Links meticulously record the layouts with every month afterward), it is focusing "I think that will work if they create franchise, which started in 1990, shut digital photography on the ground on creating partnerships around 2009 a sticky product, and they appear to down after five years against E.A. and in the air (using remote drones golf broadcasts so it can jointly sell think it's sticky," he said. "I doubt And in addition to locking up Woods, and full-size helicopters), G.P.S. advertising and share revenues. Its that the game play and customization E.A. Sports holds the exclusive technology, and terrain mapping. The first deal comes in September, with is as good as Tiger, but if it's free, I'm license for the P.G.A. Tour, company had a pair of ex-Electronic the Muscular Dystrophy Association sure World Golf Tour is good essentially shutting out other Arts programmers build an online for the Jerry Lewis M.D.A. Golf enough." comers—until now. physics engine to replicate the way Tournament. Related Links World Golf Tour is trying to balls roll across different surfaces; "This would include those that don't How About a Massive Multiplayer sidestep the roadblocks. It's cutting hundreds of high-definition digital necessarily attend or play real-world Wii Baseball League? individual deals with top golf courses photographs (an average of 700 per golf events, but would have a keen The Gamesman so that it doesn't need to deal with the hole) layered atop a 3-D map allows interest in the opportunities (and fun) Game Boy P.G.A. Tour. The stars of its greens balls to "bounce" and "roll"—paving offered by this platform," said Jerry will not be pro golfers, but players' the way for golfers to experiment Weinberg, president and C.E.O. of Staying the Course (Portfolio.com: Top 5) television in recent years. things up might sway the producers. in the political coverage at their CBS, NBC, and ABC have pulled a But there are several reasons it respective networks, and the Submitted at 6/17/2008 2:30:00 PM series of increasingly desperate stunts shouldn't. relationships they form on the show The unexpected death last Friday of to try to retain their aging or fleeing For one thing, Meet the Press isn't allows them to break news for the Meet the Press host Tim Russert has viewers—and by extension, in nearly as much trouble as the networks year-round. left NBC facing questions about the advertisers. Bells and whistles have nightly news. The show's audience Still, as good as the formula is, future of its political coverage, and included online interactive quizzes isn't going anywhere. Average change has obviously come to Meet the format of one of its most popular tied to news broadcasts, webcasts of viewership for Meet the Press and its the Press. As the names of possible shows, smack in the middle of a key the nightly news, and most competition in the Sunday morning successors—Tom Brokaw for the election season. notoriously, hiring Katie Couric, political talk fest, Face The Nation on immediate time being, David Gregory NBC executives were attending whose charm and smarts were CBS and This Week with George or Andrea Mitchell from within NBC memorial events Tuesday in supposed to revitalize CBS's nightly Stephanopoulos on ABC, has held News, or even a cable cousin like Washington, and were not available offering. fairly steady in the past 10 years, Chris Matthews or Keith for comment. "Our focus right now is These grabs for younger viewers, though Meet the Press has Olbermann—are tossed around, on the next few days," said a while necessary in a shifting media consistently led the pack, with an questions about format changes are spokesperson, declining to comment landscape, have been almost average of just under 4 million inevitable. on the search for a successor. universally unsuccessful. The lesson viewers per show in the current No matter who takes over, the show But competing networks weren't so for the producers of Meet the Press? broadcast season. "will not be reinvented," predicts reticent. "Tim was the format" of the If it ain't broke, don't fix it. That loyal audience includes the Andrew Tyndall, the blogger who most popular of the Sunday morning Andrew Heyward, former president kinds of tastemakers and civic leaders authors the site TyndallReport.com, a political gabfests, said a news of CBS News, was involved with that every network—and website tracking network news executive from a competing network initial talks to bring Katie Couric to advertiser—wants to reach, while coverage. "It will evolve, if the new who did not want to be identified. the network. "A lesson to me there is being relatively cheap to produce and host is up to the task." "By definition [the show] will change that for the evening news—and the thus reliably profitable. That's a big if, of course. But no to suit whoever they put in there.” Sunday morning shows are kind of Finally, the shows are "often news- doubt exactly what NBC is hoping Maybe so. But during the changing like this—the people who watch it making opportunities," says Jeffrey for.Related Links of the guard at Meet the Press, the like it the way it is," says Heyward, Schneider, senior vice president at Summertime Slump longest-running program in the who left the network in 2005 and is ABC News. "Every Sunday there are News-division Layoffs at NBC, history of broadcast television, NBC currently working for Marketspace, a a whole array of news-makers who CBS network executives would be wise to consultancy affiliate of Monitor are having tough questions put to Katie Couric: Still Anchored to pay attention to recent efforts to Group. them, and those answers often CBS Evening News revive the nightly news, which has Of course, Meet the Press is now command the front page of the fallen the farthest, in term of ratings broken. It has lost its charismatic newspaper the next morning." The and prestige, of anything on broadcast host, and the temptation to shake shows' hosts each play leading roles 6 Tales of a Corporate Gunslinger (Portfolio.com: Culture and fashioned labor. Miller is the kind of sentimentalist. more productive steelmaker. He tried Lifestyle) guy who likes machines—“sawmills, After the bailout, life at Chrysler to repeat the formula at Delphi, where ships, earth•movers.” He grew up in settled down, and Miller, having been he dreamed of liberating the auto Submitted at 6/16/2008 3:00:00 AM Oregon, and though his father was a promoted to chief financial officer, industry from the choke hold of O ver a 15-year stretch, whenever a corporate lawyer, his grandfather, discovered he was bored. But he pension and health-care costs. company got into trouble, Steve who ran a lumber mill, was for Miller waged a gutsy battle against chairman Instead, he found himself a pariah, Miller seemed to be the guy to call. the epitome of the rolled-up-sleeves Lee Iacocca, who was famous for vilified by the United Auto Workers. He was whisked from one corporate ideal. “Every moment,” he writes of saving Chrysler and had acquired the Miller was right about the need for suite to the next, serving as C.E.O. or his summers at the mill, “I was trappings of royalty. Miller zings labor concessions, but it’s not too de facto boss at numerous companies, absorbing lessons about the vital Iacocca for losing the common touch hard to figure out why he wasn’t including •Morrison Knudsen, Waste dignity of work.” And it’s a tale with (and for believing his own press). loved. Management, Bethlehem Steel, and a irony too, because as Miller comes of Later, Miller is equally skillful at Though a down-to-earth guy—one half-dozen others. Along the way, he age, the brick-and-mortar industries dressing down such boardroom egos who never outgrew his lumberjack encountered every sort of corporate he loves are well into their decline. as Carl Icahn and Al Dunlap, the plaids—Miller cannot help sounding mishap you can think of: bad He is practically their undertaker; he Sunbeam C.E.O. known for ruthless preachy when he talks about the great mergers, incompetent executives, vows to reinvent industrial America cost-cutting. Having visited things he did for America by driving bloated pensions, outright fraud. At as a leaner, meaner, and more “Chainsaw Al,” Miller slyly reports factory wages down near the level of Federal-Mogul, a distressed auto- competitive place. that Chainsaw’s house was decorated those of Wal-Mart employees. When parts company, he served three stints A graduate of Stanford Business like a shrine to himself. This is an apt he confesses, “As strange as it may as C.E.O. When he was installed the School, Miller began his career at sendup of the C.E.O. who was soon sound coming from someone with my second time and called to tell an Ford Motor in 1968, when the after exposed as a fraud. range of experience, I was a little in executive assistant, she shot back, executives, unaware of the turbulence At Chrysler, Miller’s criticism of awe of Wolfensohn,” you want to “Don’t worry; I know the drill.” ahead, seemed as secure in their jobs Iacocca soured the chief on him, and reply, “No, it doesn’t sound strange at Once, he was packing his bags and as tenured professors. But in 1979, in 1992 he went to work for the all.” Wolfensohn was, after all, an clearing out of New York after a Miller jumped to Chrysler, as an financier James Wolfensohn. Though international star who eventually short stretch with Reliance Insurance assistant controller, and plunged into Miller hardly expected it, his Chrysler became president of the World Bank. when he heard his telephone the task of •persuading the teetering experience had branded him a It’s strange only to Miller, whose ring—for Miller, always an ominous auto•maker’s bankers to refinance its financial firefighter. His first client view of himself is inflated. And when sound. It was one of Aetna’s debt. was the developer Paul Reichmann, he advises executives, “Don’t worry directors, William Donaldson, During the next couple of years, he and despite Miller’s best efforts, about [taking] credit,” one wonders begging Miller to come to Hartford, made 116 trips around the country Reichmann had to file for bankruptcy. why his excellent ghostwriter, Connecticut, and straighten out the and, though still a junior executive But one thing about being a rescue •Michael D’Antonio, isn’t mentioned health-insurance behemoth. himself, arm-wrestled bank presidents artist (and Miller doesn’t quite admit on the cover or the title page, only I got to know Miller when I was for loans. For Miller, it was a this): You really can’t lose. The hidden in the acknowledgments. Still, writing about his final, and perhaps transforming experience. He saw the trouble is the other guy’s fault; the this is a highly engrossing memoir, defining, job: C.E.O. of Delphi, a delicious upside of being in a crisis: success, yours. poignantly leavened by the story of General Motors spinoff that was “You get to make decisions without Miller left Wolfensohn, but by then, the untimely death of Miller’s wife. hopelessly burdened by labor costs. being hobbled by bureaucracy,” he he recounts, he “seemed to be on No one executive can fix all of He seemed then to be a disarmingly writes. In his memoir, he also everyone’s short list for corporate corporate America, but Miller came candid if not always humble applauds the government for crisis jobs.” One plus to his career, close.Related Links executive, and this is the fellow we providing Chrysler a loan guarantee; and to the book, is his steady Chrysler's Bumpy Ride meet in The Turnaround Kid: What I it was a controversial step that was accretion of expertise; crisis work Chrysler: Press Presses on with the Learned Rescuing America’s Most crucial to the company’s survival. turns out to be a discipline like any Press Troubled Companies. Though his position is at odds with other. At Bethlehem, Miller enjoyed Chrysler: On Strategy, In Public It’s a riveting tale, stitched together his self-description as a “doctrinaire, his greatest success, getting the union by a central theme, which may be sink-or-swim capitalist,” the author is to agree to a sale and paving the way described as the nobility of old- no ideologue. At heart, he’s a (post-bankruptcy) for a streamlined, His Happening All customers (Portfolio.com: Culture and domestically, while The Village competition with The Incredible are smarter Lifestyle) scored a disappointing $114 million Hulk, a movie destined to be popular in the U.S. among the exact fans—teenage boys Submitted at 6/16/2008 10:00:00 AM After a much-publicized split with and young men—who are than average O nce again, M. Night Shyamalan Disney, Shyamalan then moved to Shyamalan's bread and butter. (The (Seth's Blog) has delivered the surprise twist—this Warner Bros. for his biggest dud yet, Hulk wound up topping the weekend time, in his own career. 2006's critically panned Lady in the box office with a $55 million Submitted at 6/13/2008 3:20:00 AM After a series of critical pans and Water, which made only $73 million opening, followed by Kung Fu Panda In study after study, respondents rate low box-office expectations, The worldwide. at $34 million, and then The themselves as less racist than average, Happening—the new flick featuring Making matters worse were a series Happening.) smarter than average, more generous mass suicide from the director of The of remarks Shyamalan made Instead of fizzling, however, the than average. Sixth Sense—grossed more than $30 criticizing the judgment and honesty movie's big opening surprised And though they are never asked, million in its opening weekend, of Disney executives that appeared in everyone, even outpacing The Sixth I'm pretty certain that your customers according to Exhibitor Relations, a a book about his career. Sense's opening numbers (just under also believe that they are righter than Los Angeles-based entertainment- With The Happening, Shyamalan $27 million). The Happening's R average as well. research company. switched studios again, this time rating, the first for Shyamalan, At the airport yesterday, a woman Shyamalan established his landing at Fox. And expectations apparently succeeded in diversifying at security said to the TSA official, trademark blend of horror and sci-fi, were low, given the movie's initial his typical audience. And the subtle "I'm a regular traveler, a frequent with a smattering of plot kinks, in notices. marketing campaign, one of his least flyer and I know the rules. I want the 1999, with The Sixth Sense, starring "This is easily the worst of all his aggressive ever according to Poland, fast line." A moment later, it was Bruce Willis. The movie movies," says David Poland, editor of managed to pique audiences' curiosity determined that the woman had two unexpectedly became one of the most several influential movie-industry without giving too much away. huge bottles of shampoo in her very successful horror films of all time, blogs. With negative reviews in the Next up for the director is a large carry on. "No one told me that grossing about $673 million New York Times and elsewhere, collaboration with Paramount on there was a restriction on liquids! worldwide for Disney's Buena Vista Poland said on Friday that The Avatar: The Last Airbender, an Where does it say that?" she snarled, studio. Happening would need to have an adaptation of a Nickelodeon show. as she stood in front of the sign that But none of Shyamalan's movies opening weekend of at least $25 That movie is set for a 2010 release, said that... since The Sixth Sense has matched million to be deemed a success and we're betting that Paramount is Any time you ask customers to self- that movie's box-office receipts or because of Shyamalan's notoriety and considerably happier about that segregate, they will put themselves in critical acclaim. Among his next three past record. arrangement this week than they were the best line. films for Buena Vista— Unbreakable, "Everybody has this incredible focus last. And just about any time you ask a Signs, and The Village—only 2002's on Night because he has put the focus Related Links customer to acknowledge that they Signs, starring Mel Gibson, even on himself," says Poland. Miley's Pre-Maturity were wrong, you will fail. approached Sense's success, grossing Making a big opening even more How Mickey Got His Groove Back about $408 million worldwide. unlikely was The Happening's release HD DVD Is Dead. What to Do Unbreakable only took in $95 million date, which put it into direct With the Remains? 7 Law Firm Back From the Brink (Portfolio.com: Top 5) of Milberg extracted a powerful Department of Justice," Giuffra said. problem on its hands, at least in his concession from the prosecutors, who With no defense, they had to enter an view: "The firm has lost its soul," he Submitted at 6/17/2008 9:30:00 AM acknowledge that none of its current agreement or go out of business, said, referring to his longtime In signing a $75 million settlement partners were involved with the making their plea and agreement to a courtroom opponent, Mel Weiss. "It with federal prosecutors, the class- criminal activity. The "statement of court monitor more necessity than has to reincarnate itself around a action law firm Milberg LLP has admitted facts" attached to the nobility. group of people that have never had taken a page from the playbook of the agreement says that the seven One mystery remains: The firm's to be soul-like before." accounting firm KPMG. "conspiring partners" who made admitted statement of facts points to Weiss is scheduled to report to At first blush, the deal cut by secret kickbacks "took affirmative Weiss, Lerach, and former partners prison on August 28, while Lerach Milberg—now a shadow of its former steps to conceal their illegal activities David Bershad and Steven Schulman. has been denied a bid to move from self in the wake of guilty pleas by from other partners, associates, and But it also alludes to three other the federal prison at Lompoc, Melvyn Weiss and William Lerach, employees of the firm." "conspiring" partners, identified only California, to a residential alcohol the two men that built the firm into a Sean Coffey, a partner at Bernstein as Partner E, Partner F, and Partner rehabilitation program. shareholder lawsuit behemoth—may Litowitz Berger & Grossman, himself G. It is not clear who these former In Condé Nast Portfolio, Lerach seem quite onerous: The firm has a former prosecutor, called that "a partners are. claimed Milberg Weiss paid agreed to "accept responsibility for very significant statement from the Milberg has agreed to follow a kickbacks to plaintiffs for decades "to the conduct of its partners" for paying government that will go a long way to "best practices" program for two stay competitive" because it was kickbacks to people who put their give at least some courts confidence years. Under it, the firm agrees to "industry practice" prior to passage of names on lawsuits for almost three in Milberg going forward." "ensure full compliance with all legal a 1995 law by Congress. decades. It has also agreed to Coffey's firm has emerged as a and ethical rules" and submit its His essay expounded on a claim he "cooperate fully" with "any agency" major player in shareholder lawsuits, referral agreements to the review of a made on the eve of his March designated by the prosecutors representing institutional investors in court-appointed monitor—limitations sentencing to the Wall Street Journal. regarding kickbacks—a potentially blockbuster class actions like the case that one lawyer called a "joke." That has triggered calls for a wide-ranging cooperation, given that stemming from the accounting But the use of a monitor drew a congressional investigation, and there are calls in Congress to probe scandal at WorldCom. Current complaint from a seemingly unlikely infuriated fellow plaintiffs' lawyers. Lerach's claims that kickbacks were management at Milberg and their source: Ralph Ferrara, a partner at Coffey, for one, dismisses the call "industry practice" at one time. counsel "have done a terrific job of Dewey & LeBoeuf who has defended for a Capitol Hill inquiry as "a press But Milberg is no longer facing the repairing the damage of the former corporate management against many release from the Chamber of dark cloud of criminal charges. Even leadership," Coffey said. "The former class actions filed by Milberg Weiss Commerce with a senator's name on after its indictment, the firm had still leadership took a circle-the-wagons when it was led by Mel Weiss. it." been able to convince some judges to approach that very much harmed the "Milberg is one of the many, many It is an odd twist that Lerach's appoint it for the coveted role of law firm." entities that has succumbed to this parting gift was to big business, while firm for the "lead plaintiff" in On the other hand, Robert Giuffra monitor idea under the threat of painting his fellows at the plaintiffs' securities class actions, a title that Jr., a defense lawyer at Sullivan & indictment," Ferrara said, calling the bar with a black brush: "The carries with it the power to control Cromwell who, as counsel to the use of court-appointed monitors "a corporate apologists from the the litigation of these cases, and the Senate Banking Committee, was one completely extra-judicial, extra- Chamber had to be kicking their heels lion's share of the lawyers' fees of the key drafters of a 1995 law that constitutional method of when Lerach threw out that tidbit just awarded at their end. changed the rules for securities class prosecution." before the jailhouse door closed With the charges settled, "They are actions, says other plaintiffs' firms Oddly enough, having a monitor shut," Coffey said. in a better position now," a rival and defense lawyers will use the check up on Milberg may work to the Related Links lawyer says. agreement against Milberg, either to firm's benefit as it tries to rebuild, The Twilight of Milberg Weiss Likewise, KPMG emerged as a grab institutional-investor business it Ferrara says. "It may be used as a Plaintiffs Lawyer's Fall stronger firm after agreeing to a is trying to catch, or prevent it from wedge to get back into the good The End of Milberg Weiss. deferred prosecution agreement in being appointed as the lead law firm. graces of the institutional clients they 2005 to avoid an indictment over its "The problem that they face is that want to serve," Ferrara said. "They role in questionable tax shelters. Milberg really had no choice but to can say, Look, this is behind us." Moreover, the current management enter an agreement with the Milberg has a much more profound Secondary Sources: Bubble, Minimum Wage, Deficit (WSJ.com: Real Time Already, he said, there’s a lot of minimum wage earners experience a Economics) interest from accounting firms, $1 gain in pay) would put new auditors and others. Looking back on spending at $11.2 billion. The cost to Submitted at 6/17/2008 10:00:00 AM the past few years, he said: businesses would be $2.8 billion in A roundup of economic news from ‘Everybody’s culpable in this — increased wages. On the other hand, around the Web.• The Bubble: The everybody — Wall Street, investors, past research has shown that Washington Post concludes its three- originators, brokers. At every point in consumers spent about two-thirds of part series on the recent financial the process, something broke down.’ their stimulus checks back in 2001. meltdown today with a look at the He added, ‘Do you want to get This time around, that would translate aftermath. “David E. Zimmer began philosophical? Are people self into an additional $80 billion in putting out job feelers after being laid interested? Absolutely. It’s what spending. So, what’s better, spending off as an executive at People’s makes capital markets efficient. As $120 billion to stimulate $80 billion Choice, a subprime lender, we’ve learned, it’s also what makes in consumption, or $2.8 billion to interviewing with hedge funds and them dangerous.’” stimulate $11.2 billion?” others to see whether there was any • Minimum Wage vs. Tax Rebates: • Deficit Watch: On its editorial interest in his expertise in the arcane Zubin Jelveh of Portfolio wonders pages, the Financial Times writes that Silence is a virtue world of structured finance. There whether raising the minimum wage the U.S. needs to be more concerned wasn’t. He blamed it on the falling- may be a more effective economic with its deficit. “Fiscal consolidation, (Seth's Blog) knife syndrome: The market for stimulus than tax rebates. “Right unappealing though it may be as a Submitted at 6/15/2008 7:48:01 AM subprimes made firms wary of now, the national minimum wage is platform, ought to be the organizing investing in the field and hiring set at $5.85/hr and will get a bump in principle for current political debate If the best thing you can think of is a someone like him who specialized in late July to $6.55/hr followed by in the U.S. The country must start to bad pun, random capitalization and a it. ‘Who wants to catch the knife?’ he another boost to $7.25/hr next July. get a grip on spending, or steel itself weak photo (salt and pepper said. Zimmer, though, figured there The Economic Policy Institute says to pay very much more in taxes. The included!) it's probably better to do was a need for his kind of specialized that 5.6 million workers will be electorate and its leaders continue to nothing at all. knowledge. He started a consulting affected by this change. Aaronson, flinch at facing, let alone making, this Nothing at all is actually the biggest business, Princeton Structured Agarwal, and French estimate that a choice. It can be evaded between now difference between professional and Finance Analytics Group, assessing $1 minimum wage increase translates and November, one supposes — but amateur marketers. The pros are the value of institutional investors’ into a $2,000 boost in annual not indefinitely.” better at being quiet. holdings in mortgages and the spending. A back-of-the-envelope Compiled by Phil Izzo Even if there's room left on the underlining loans in securities. calculation (assuming that 5.6 million page, or in the display window or in the blog post... 8 How Smart Are You? (Portfolio.com: Top 5) and analyze information. tests. The results from their tests are And what should be done about the Submitted at 6/17/2008 9:00:00 PM recognized “end points” by the Food prospect of delivering bad news to T he words come in a rapid, random and Drug Administration to people with mental disorders, who progression on the computer screen: determine if new brain medications might get more depressed, or worse? "POET," "BEACH," work, which means that the drug Wesnes says that his privately held "ATTENDANT," "JURY," "CAVE" industry has billions of dollars in company has tested about 30,000 … there are 15 in all. I’m watching potential revenues riding on them. people, and earns about $7 million to them tick by one by one, slightly (For more information, see “ The $8 million a year. But adds that he panicked that I am going to forget Ultimate Cure,” an article on the believes the cognitive-testing market them. neurotechnology industry in the June is on the verge of expanding into an The screen goes dark, and I’m now issue of Condé Nast Portfolio.) online business that would offer tests supposed to write down as many of Cognitive tests have been around directly to consumers, businesses, or the words as I can quickly recall. for a century as examinations taken anyone else. I am annoyed when I manage only with paper and pencil. In the 1970s Consumers would need to be five words. and '80s the tests shifted to protected from anyone abusing these EXPERIMENTAL MAN computers, Cognitive Drug Research sites and the information generated; David Ewing Duncan explores founder Keith Wesnes says. He is a employers to comprehensively and accommodations would need to advances in personalized medicine psychologist and neuroscientist who measure if their employees are fit for be made to protect or educate patients and what they can tell us about started the company in 1986 as an duty when it comes to their ability to who might be upset by the results. ourselves. Paul Turk says not to outgrowth of testing programs he think and act. Taking only around 8 For healthy people, the sites could worry, that this is fairly typical. Turk developed for his academic minutes to complete, it has been be used to run self-experiments, such is director of business development experiments on cognition. proven to be sensitive to the effects of as comparing one’s cognitive abilities for Cognitive Drug Research, a Besides drug trials, cognitive alcohol, fatigue and certain types of while listening to, say, Carlos British firm that uses automated tests experiments are being run on patients drugs. This method of testing is Santana versus listening to a Bach to gauge how well we think. He's who have had open heart surgery; significantly less invasive than concerto; or before and after a bike come to my office in San Francisco to take cholesterol-lowering drugs; existing methods of drug and alcohol ride. administer a battery of tests to check experience what is known as testing and therefore can be used as a The price won’t be out my attention, memory and “Chemofog”, a cognitive decline that less invasive step within an OH&S outrageous—perhaps $40 or $50, executive function. sometimes accompanies [Occupational Health and Safety] says Wesnes, though he has not yet I will be compared on this test and chemotherapy treatments for cancer; system. done an analysis to set prices. several others with people my age and soldiers returning from Iraq with Experimenters also have tested Last weekend, I got my results from and to those who are younger and head trauma. methods for enhancing cognition. For my own battery of test, and was older. Their results have been Tests have been run on children instance, placing subjects into a room surprised to hear that despite being 50 averaged on a database of tens of eating sugary breakfast cereals versus high in oxygen apparently makes the years old, my “brain age” is in my thousands of adults. I’ll also get a more healthy breakfasts, and on the brain very happy given the improved 20s. I was quick in responses and “brain-age” score. cognitive impact of being obese. scores on cognition and memory. usually pretty accurate, said Wesnes. I have to admit to certain A competitor of Cognitive Drug Drugs on the market and being tested “But that doesn’t mean that you nervousness. What if a) I turn out to Research, Cogstate of Australia, also improve scores for healthy weren’t sharper in your 20s,” he said. be a moron; or b) my brain-age is offers a product called Cogstate Sport people, in some cases by as much as “We are all on our own scale, and we older than I am? that monitor an athlete’s recovery 20 percent. all decline with age.” Cognitive Drug Research is one a from concussions. Customers include Issues of enhancement and testing So I think that’s good news—for handful of businesses, most of them the Rugby Football League in Britain workers raise a host of ethical issues, now. We’ll see how I do on the next outside of the U.S., that work with and the Australian Football League. including the possibility that these test I’m planning with Wesnes, Turk, pharmaceutical companies to test how Somewhat ominously, Cogstate tests will be abused by individuals and Cognitive Drug Research—to new drugs for everything from also offers a test that allows wanting to boost their own determine how my brain does after nicotine addiction to Alzheimer’s employers to check out their workers. intelligence with drugs, or by drinking a glass or two of a modestly- disease affect the mind’s ability to According to the company's website: employers discriminating against priced Bordeaux. remember things, make decisions, CogState WorkPlace allows people who don’t score high on the Will I do worse ... or better? Thanks for your mail! Amazon, Ebay Test Legal Waters (Seth's Blog) (Portfolio.com: Top 5) payment system on the Australian What are those market specific Submitted at 6/12/2008 11:50:51 AM site. The policy isn't passing the sniff obstacles? Most likely the company is We answered all three, at least Submitted at 6/17/2008 11:00:00 AM test with Australian regulators, concerned about the long-arm of the pretty much. You can move on, now. What sort of no-goodness are though. The Australian Consumer anti-trust law and lawsuit-happy Nothing to see here... Amazon.com and eBay up to? Look and Competiton Commission competitors. no further than the news from (ACCC) hinted it may give eBay the "On antitrust issues, the difference overseas. smackdown. between other countries and [the The two companies seem to have a "Given eBay's position as Australia's U.S.] is that here, if you engage in nifty little trick: If they can't get away leading online marketplace, the anticompetitive conduct, you not only with a slightly questionable strategy notified conduct will substantially have to worry about government here in the U.S., they test it out reduce competition to supply online regulators, there's also a robust risk of somewhere else. payment services," said ACCC chair private suits from competitors or Case in point: Amazon.com pulled Graeme Samuel. customers. In most other countries, the one-click buy feature on its EBay said the ACCC's decision " that's not as well developed," says British web site for books published undermines online consumer Mark Ostrau, a partner and co-chair by Hachette Livre, the second-largest protection," but at the same time, the of the antitrust and unfair competition English language trade publisher after company fully admits it wouldn't try group at Fenwick & West. "And if a Random House. Amazon reportedly anything like that in the U.S. -- [foreign] government steps in, it yanked the feature in response to sort possibly because of regulatory almost gives [companies] a chance to of revenue dispute with Hachette concerns, but more likely because it test the waters, to see how a NYT: Businesses Fight Livre. (Amazon.com declined to wants to avoid lawsuits from government reacts, and then pullback, comment.) The publisher also claims competitors and customers. without the overhang of large damage the Email Monster that Amazon pulled its books from "In the US, we are not mulling, claims through private action." promotions. planning, or otherwise seriously Related Links They Helped Create Meanwhile, our friends over at considering a move to PayPal-only. A New Way for EBay? (43 Folders -) eBay have been trying to implement a There are US market-specific reasons Amazon Doubles Up On First PayPal-only policy in Australia -- the why PayPal-only is something we Quarter Profit Submitted at 6/14/2008 11:24:46 AM move would make it mandatory for simply cannot do in the US," said Error 404. You've Been Hacked. Lost in E-Mail, Tech Firms Face all users to only use PayPal on eBay, spokesman Usher Lieberman in a Self-Made Beast - NYTimes.com and would disable any other online blog post. Is Information Overload a Billion Drag on the Economy? - Bits - Technology - New York Times Blog If you’ve seen the video of my

NYT: page 9 9 NYT: continued from page 8 Inbox Zero talk at Google, you may from recent studies on “workers’ are bubbling up and getting the you. recall the moment when a few efficiency at information-intensive attention they deserve; email pain is Every time I speak to a company, I attendees start mentioning the businesses.” 28% of a typical usually a quiet, lonely, and shameful hear half a dozen depressing stories hundreds of internal email messages worker’s day is spent on: one, where people’s work and home of management disconnection and they receive (and send) in a given Interruptions by things that aren’t life suffer from the silent communication bedlam, alongside day. I still remember, because I urgent or important, like unnecessary understanding that “too much is never one or two completely inspiring tales almost fainted. e-mail messages — and the time it enough” — that trying to tamp down about how employees and small Whenever I hear these and similar takes to get back on track. this always-on hysteria is a sign of teams are working to fix things at a stories, the same question always Sidenote: According to that same weakness or sloth. That’s ironic, squad or platoon level. It’s really comes to mind: “ What does a graphic, 20% of an average day is given the biggest reason we reason amazing, and I wish it were company get out of its employees spent on meetings. Wow. Expressed use email so much: it’s easy. something C-levels and managers spending half their day using an email as a year, that means a meeting you There’s no cashier, editor, or were more cognizant of. program?” Well, apparently, it’s a start on New Year’s day would let out therapist through which your message So, I suggest you be open to seeing question a lot of people are starting to around the middle of March. Yikes. must pass. You set your own rules for email as just one tool among many, ask. Including Google. Sounds like these folks have their what’s appropriate to send, ask, or and be gracious about listening to A story in today’s New York Times work cut out for them. demand. You decide what it means those teams about how they’ve covers Sili Valley’s new interest in I think it’s important to clarify when someone reacts (or doesn’t worked to fix or ameliorate these curbing unnecessary interruptions and something here: there’s nothing react) in a given manner or time problems. helping stem the flow of endless data. fundamentally wrong or irreparable frame. Email is still the Wild West, Bottom line (and I’ll never stop Intel and other companies are about email as a tool. Given my and companies are paying billions of saying this): stop trying to eradicate already experimenting with solutions. position on how email gets (ab)used, dollars a year to supply the six- human communication problems by Small units at some companies are you could be forgiven for thinking I shooters and Stetsons. Yeehaw. introducing waves of new technology encouraging workers to check e-mail want everyone to write each other I’ll keep following these stories, or made-up rules of social messages less frequently, to send letters once a year and ride cows to because, I must tell you, I think it’s engineering. A company with email group messages more judiciously and work. No. Not at all. going to be a rocky road for problems is also experiencing people to avoid letting the drumbeat of My point has always been that, as businesses to patch. Will whacky problems. Until you understand why digital missives constantly shake up with any tool, email can be used for experiments like “No Email Fridays” the wetware isn’t working like you’d and reorder to-do lists. good or ill depending on the problems have an affect on how we think about expected, don’t go nuts with top- A Google software engineer last you’ve decided it can solve. One this medium? Only as much as “No down technology solutions and over- week introduced E-Mail Addict, an trouble is that our use and widespread Ice Cream Sundays” can help fix your clever edicts. experimental feature for the adoption of email hasn’t brought with eating disorder. There’s a million tiny ways to company’s e-mail service that lets it an equally widely-adopted But, I’m glad they’re trying, and improve how a business people cut themselves off from their understanding about how to use it, I’m really glad the conversation has communicates with itself, and a lot of in-boxes for 15 minutes. what content it’s appropriate for, and started at a higher level. that intelligence is currently trapped, A few more stats for you: what expectations we accept As for the decision-makers who are unmined, in the heads of people A typical information worker who regarding when it’s allowed to take us struggling with this stuff: these stats who’ve never been asked for an sits at a computer all day turns to his away from everything in our life are great for getting companies off opinion. I like to think articles like e-mail program more than 50 times that’s not email. There are very few the bubble, but before you start this represent every knowledge and uses instant messaging 77 shared rules of the road right now. breaking crockery, I suggest talking worker’s opportunity to raise his or times… And that’s making life hard for a lot to lots of real employees about how her hand and say, “Hey, I have an I’d also draw your attention to this of people. they work, how they communicate, idea.” infographic illustrating data points I’m thrilled to hear that these ideas and how they might be able to help [NYT links via Mrs. Mann] Secondary Sources: Fed and Oil, Saudi Dollar Peg, Sentiment (WSJ.com: Real Time • Saudi Dollar Peg: Writing for the consumer sentiment and the actual Economics) Financial Times, Martin Feldstein economy. “The biggest reason for says it’s time for Saudi Arabia to people’s gloom might be because of Submitted at 6/18/2008 9:36:00 AM remove its peg to the dollar. “The what they’re used to. In the 1980s and A roundup of economic news from double-digit inflation problem in ’90s, memories of the double-digit around the Web.• Fed and Oil: John Saudi Arabia and its Gulf neighbors unemployment and double-digit Berry of Bloomberg says that the Fed is different from that of other inflation from the 1970s were still has history on its side when they bet emerging market economies. fresh. ‘People expected very little out oil prices will moderate. “Inflation Although the rising price of imported of the economy,’ said Richard Curtin, isn’t out of control in the U.S. Fed food affects them all, the inflation who has administered the University officials are determined to make sure problem in the Gulf region is of Michigan’s survey of consumer that remains the case, even as they exacerbated by their fixed exchange sentiment for 35 years. ‘Compared to pursue their dual mandate to achieve rate policy… The Saudis could shift what their frame of reference was, the both stable prices and maximum from the existing dollar peg, either to performance of the economy was sustainable employment. When, as a policy of linking the riyal to a absolutely tremendous.’ But now, now, inflation and unemployment are basket of currencies with a heavy coming off two decades of prosperity both higher than Fed officials and the weight on the euro, or to a market- and low inflation, Americans have public would like, policy can’t focus determined “floating” exchange rate. come to treat low unemployment and on one goal to the exclusion of the Shifting to a weighted basket peg inflation as givens. We have gotten so other. Since last summer, officials would reduce the problem of used to things being good, in other have had to concentrate on keeping imported prices but would still limit words, that even when conditions the economy afloat in the face of the ability of the Saudi monetary become somewhat bad, it feels serious financial market turmoil. The authorities to pursue an independent terrible.” danger of a deep recession has anti-inflationary interest rate policy.” Compiled by Phil Izzo subsided. So now it’s time for some • Consumer Sentiment: The anti-inflation insurance — in small, Washington Post looks at the moderate doses.” disparity between the gloom in 10 OmniFocus for iPhone: Location- LinkedIn Aware Contexts and More Locks In (43 Folders -) OmniNerds on their fine hard work. (Portfolio.com: Top 5) They’re pathologically dedicated to Submitted at 6/10/2008 10:54:42 AM taking care of their customers, and Submitted at 6/18/2008 5:00:00 AM The Omni Group - OmniFocus for you can see that in this app. It’s crazy So if Facebook is worth $15 billion, iPhone and iPod touch -smart and a lot of fun to use. then LinkedIn must be worth…? The [ Disclosure: I’m a consultant on the So! Yes. Tonight. Come to the answer turns out to be $1 billion, OmniFocus project. You can blame OmniFocus meetup at the W and based on a new $53 million capital me for having requested any of the fistbump me: infusion from Bain Capital and other features you don’t like.] The Omni Mouth » OmniFocus investors. Oh, man. It’s so nice to lift the veil meetup in S.F. on 6/10/08 The valuation will certainly escalate on this one. It’s been like I knew you What: OmniFocus meetup When: the debate about the potential worth guys were getting the big Lego Tuesday, June 10th 2008, 6:30 - 8:00 of social-networking sites and Millennium Falcon for Christmas, but pm Where: W Hotel ( map), San whether there is really a significant I couldn’t tell you until Santa had Francisco • 3rd Floor, Workroom 2 business there. gone back up the chimney (in his Please RSVP. Max capacity for the Of course, LinkedIn is different, as black mock turtleneck and jeans). room is 150, so make sure you arrive it is focused on professional Anyway. on time to snag a good seat. networking rather than all things Merry Christmas, Mac productivity Also, completely off topic, there’s a social. nerds: iPhone synching for rumor that there might be a totally As Kara Swisher at All Things OmniFocus is coming. And it is informal, last-minute You Look Nice Digital decribed it, it is "the serious gorgeous, usable, and location-aware. Today meetup in SF tonight cousin to the party-hearty twins of More here on OmniGroup’s blog. featuring@scottsimpson and MySpace and Facebook." From the OmniGroup site: Yum. Screengrabs and more — me(@lonelysandwich is at a Founded four year ago, LinkedIn Using your location, OmniFocus including a reminder that you should Fannypack Convention in Prague). now has more than 23 million users can create a custom list of actions to totally visit me at the WWDC Stay tuned to@ylnt for details as they in 150 countries—and its number of complete nearby. Buying groceries? OmniFocus meetup tonight— after emerge. unique visitors is growing. OmniFocus can show you the closest the iJump. [ Again, with the Disclosure: I’m a Its chief executive, Dan Nye, told grocery store and create an instant FWIW, I’m going to let OmniFocus consultant on the OmniFocus project. Jessica Guynn of the Los Angeles shopping list. answer any questions people have ( You can blame me for having Times that the new capital would be Capture tasks anywhere, anytime blog post comments, forum) about requested any of the features you used to introduce corporate services with OmniFocus: you can enter text, details of their apps and plans and don’t like.] and explore potential acquisitions. take a picture, or even make a quick what have yous. I just wanted to take "We have a strong balance sheet and voice recording. the opportunity to fist bump the a strong business model," Nye told the paper. "Now we have the luxury of being able to focus on building a great company." Hooray for Bollywood! Brad Stone of the New York Times (Portfolio.com: Top 5) Indeed, Reliance has been talking to exchanging one internal corporate says only a quarter of LinkedIn's a number of Hollywood players, the feud for another. The Wall Street $100 million in revenue this year will Submitted at 6/18/2008 4:00:00 AM Times reports. Journal notes that Anil Ambani, who come from ads. Can a Hollywood divorce lead to a The $1.6 billion sale of controls wireless operator Reliance The way the investment was monsoon wedding? DreamWorks to Paramount began Communications and has ambitions officially announced was very 2.0: a The principals of DreamWorks with much fanfare in 2005. But bad in the entertainment business, has video on YouTube. Connie Loizos of SKG, heading for a split from blood between the studio founders been battling his brother, Mukesh Private Equity Hub was not a fan: Viacom this year, are nearing a deal and Viacom, the corporate parent, Ambani, the head of Reliance "Watching the video reminded me with an Indian conglomerate to create built last year to the point where a A.D.A., who was profiled by Sheelah of a late-night infomercial. (Not the a new movie venture, report Lauren split seemed inevitable. The breaking Kolhatkar in the November issue of pornographic kind. The kind where Schuker and Merissa Marr of the point appeared to be comments by Condé Nast Portfolio. you end up with some crap abdominal Wall Street Journal. Viacom's chief executive, Philippe Variety notes that under the deal cruncher because seemingly Under the plan being discussed, Dauman, at a Goldman Sachs media with Viacom, Spielberg and company respectable people testified that it had Reliance A.D.A. Group would invest conference in September. He told get to keep the DreamWorks name. It given them six-pack stomachs. And $500 million to $600 million in the analysts and investors that a departure reports that the new venture will try in your fatigued state, you believed studio founded by Steven Spielberg, of the DreamWorks team would be to produce half a dozen live-action them.)" Jeffrey Katzenberg, and David "completely immaterial" to Viacom's movies a year. See for yourself here. Geffen in return for a big stake in the financial position. Related Links Related Links venture, the Journal says. The contracts of Spielberg, Hollywood Square-Off LinkedIn Goes Mobile But the Los Angeles Times, Katzenberg, and Geffen allow them Spielberg Out At DreamWorks-- MySpace and Friends Need to following the Journal report, cites a to leave this year. Stacey Snider, the Not Make Money. And Fast. person familiar with the situation who chief executive of the studio, is Viacom C.E.O. Dauman Potshots Why Isn't There a Corporate cautions that the talks are fluid and expected to join them. Dreamworks Facebook? that an agreement is not imminent. But the DreamWorks team could be Favored links for June 16th (43 Folders -) email from friends and family, or my beloved NetNewsWire coming to at WWDC [ cough], I am so excited what I call “turkey bacn.” iPhone, but let me also take this for the apps that are coming to the Submitted at 6/16/2008 6:45:03 AM • lonelysandwich - Why Me?- Adam opportunity to congratulate Brent on iPhone. This is going to be huge, • Make It Stop! Crushed by Too thinks “MobileMe” signals Apple’s his outstanding taste in demo web people. Many E-Mails : NPR- I think big move behind what used to be content. • Start!- I’m honored to be speaking somebody on Massachusetts Ave. considered enemy lines. “Apple is • The $100 Distraction Device- at Jeff and Bryan’s amazing-looking must have called “Oy Vey, Email!” removing the Mac from the Apple “Why giving poor kids laptops one-day conference for indie web Week at NPR. Here’s another one on computer experience and laying the doesn’t improve their scholastic folks, here in San Francisco. And, email overwhelm, including tips and foundation for a browser-based performance.” I dunno. I respect that talk about a bargain. Register today. technology on “email organization.” OS…” there’s lots of sides to the OLPC • Word Spy - tweetup- “A real world How ‘bout that. At the risk of • Jonathan Coulton » The JoCo debate, but this particular one’s got a meeting between two or more people repeating myself, organizing your Primer- Jonathan has a really smart bit of damp straw and double who know each other through the email is like alphabetizing your series of pages for introducing new standards to it. online Twitter service.” Kinda scared recycling! Call me, Yuki. Let’s talk. fans to himself and his music, as well • OmniFocus for the iPhone snags to try this; I’m pretty sure a lot of my • Spark | CBC Radio | Episode 41 - as suggesting where to go next. an Apple Design Award!- Twitter friends are bots created by the June 11 & 14- In my latest Spark Memo to self, internet: steal this idea. Congratulations to my OmniGroup influential Butt Joke industry. segment, I shared some ideas on how • Ars at WWDC: Exclusive preview peeps on their award. After getting to deal with annoying forwarded of mobile NetNewsWire- Not only is lots of little sneak peeks from friends 11 Tipping Points and Energy Costs Going, (WSJ.com: Real Time tipping point and white flight: Barbara — and Colorado School of Economics) http://www.casos.cs.cmu.edu/educati Mines economist Daniel Kaffine on/phd/classpapers/Schelling_Seg_M (himself a recent graduate of UCSB). Going, Submitted at 6/16/2008 11:00:00 AM odels.pdf It shows that as prices go up, L.A. The term “tipping point,” made Geoffrey Heal and Howard freeways get a lot less congested. fashionable after Malcolm Gladwell’s Kunreuther with more on tipping Gone 2000 book of the same name, became points:http://www.econ.ucsb.edu/~burger/w part of the academic vernacular after http://opim.wharton.upenn.edu/risk/li orking_papers/BKGas.pdf (Portfolio.com: Culture and a 1971 paper in which Nobel laureate brary/06-13.pdf Here’s Lutz Kilian and Paul Lifestyle) economist Thomas Schelling showed Peter Reiss and Matthew White on Edelstein on how higher prices affect Submitted at 6/16/2008 3:00:00 AM how white families leaving a demand for electricity markets in San cosumer expenditures. Shows how, neighborhood as black families Diego during California’s energy because of the declining importance O n July 15, Yankee Stadium, which moved in induced other whites to crisis in 2000. It shows that people of the U.S. auto sector and because opened its gates in 1923, will host its leave as well. In Tuesday’s Wall really do respond quickly to higher U.S. auto makers can more easily last Major League Baseball All-Star Street Journal, Justin Lahart writes energy prices, though their ability to shift to making smaller cars, gasoline Game. Come October, it and its about about tipping points and energy cut back by a lot is constrained by the price increases might not be quite so crosstown counterpart, the New York prices — why, for instance, did signs fact that they can’t easily replace damaging to the economy as in the Mets’ Shea Stadium, will be of conservation appear when gasoline appliances like refrigerators — which 1970s/early 1980s: abandoned in favor of the new neared $4 a gallon, instead of say a are the biggest energy hogs — with http://www- Yankee Stadium and Citi Field, year ago, when it pushed past $3? more efficient models: personal.umich.edu/~lkilian/ek05240 replete with skyboxes, club seating, Post your thoughts on energy and http://www.stanford.edu/~preiss/herb 7b.pdf and other money•makers. But the tipping points below, and also check s3.pdf Related story: Have U.S. Drivers doomed stadiums promise revenue out these related links. Here’s a paper by Nicholas Burger Reached Filling Point of No Return? streams from their memorabilia, Schelling’s original paper on the — a PhD student at U.C. Santa destined to be auctioned sometime after this season’s last pitch. The teams are negotiating with New York City, which owns both stadiums, to Authenticity and reality and salvage coveted collectibles: seats, lockers, signs, even clubhouse urinals. intention No agreement has been made on• how the city, teams, and as-yet- (Seth's Blog) Silver Beats cover, would it matter? Marketers like to talk about •unnamed auction houses will split What about when a rich guy sings the transparency and authenticity. I think Submitted at 6/14/2008 3:22:00 AM the proceeds, but the auctions are blues? Or when a heartbreaker song is for most people, most of the time, we likely to be lucrative. Last year, the Take a listen to this montage of sung by a happily married man? care a lot more about the effect and city of Detroit grossed close to $2.3 three songs. The popcorn videos I posted the use of a product or service and less million by auctioning pieces of Tiger Listen to mp3 other day have been seen around the about who made it and why. We Stadium, and the St. Louis Cardinals Any guesses as to what you just web millions of times. It's now chose Converse because they get us a raked in more than $5.4 million for heard? Go ahead, I'll wait. generally assumed that they are fake. date, and we don't change brands just 20,000 seats and other items from the That's right, it's the Silver Beats, a Does that make them resonate cause Nike owns them now. old Busch Stadium. group of four young men from Japan differently for you? Except for when we do. When we New York prices are, of course, a that have a serious Beatles Otaku. What about the difference between feel deceived or tricked, the game can whole different ball game. Pairs of (One of John Lennon's original name Jerry Seinfeld (who writes his own change, and rapidly. seats from Shea could command $500 for his group was the Silver Beetles.) material) and someone like David It's easier than ever to mount ornate and pairs from Yankee Stadium They mimic each note, each cable, Letterman (who doesn't). Does it hoaxes and fancy subterfuges. And $1,000, says Brandon Steiner, C.E.O. each instrument. I saw them in change your experience to know that? you can get away with it for a while. of Steiner Sports Marketing, a concert and it was uncanny. How much marketing fakery do you But often, and at the worst possible memorabilia distributor. And with all Here's the thing: As far as I know, willingly accept, and how much do moment, the market might change its the seats expected to sell, auctions they don't speak English. you want to know about? Does the mind. It might stop enjoying the could earn $28.7 million for the Does that change things? Does it vegetarian really want to know that fakery and switch to scorn and anger Yankees and $13.9 million for the make the song different when you they didn't wash the pot at the instead. I have no clue how to predict Mets (minus cuts for the city and know the singer has no idea what, "I restaurant and a few molecules of when this will happen. How much auctioneers). want to hold your hand," means? If chicken broth are in that soup? How risk are you willing to take? Bids on lockers used by Derek every original Beatles song was many molecules before it matters? Is Jeter, Alex Rodriguez, Reggie replaced by an indistinguishable it different if it's an accident? Why? Jackson, and Thurman Munson are likely to break the $21,503 record price for Albert Pujols’ old stall at "Zerstreutheit" and the Attention Busch. (If a Yankee wants to keep his current locker, •he’ll probably have to bid on it.) And true obsessives might be eyeing far bigger items. The Management Cure oversize exhaust pipe •at Yankee (43 Folders -) them reported that they managed both I also have to share this William Stadium that’s painted •as Babe their time and their attention. In James quote, which Stone’s post Ruth’s Louisville Slugger? Shea’s big Submitted at 6/13/2008 12:34:14 PM surgery, in the studio, and in the time mentions in passing (my emphasis). apple, which rises from a giant top Linda Stone: Is it Time to Retire the carved out to think through strategies Every one knows what attention is. hat after every Mets home run? Never-Ending List? and issues, these professionals It is the taking possession by the Priceless.Related Links Linda Stone— who coined the reported shutting down the devices mind, in clear and vivid form, of one Fantasy Physician phrase “ continuous partial attention” and endless inputs (email, phone, out of what seem several New York Mets' Epic September — makes a thoughtful distinction interruptions), at scheduled times, and simultaneously possible objects or Collapse Costs Team Millions between managing time and attention, claiming those moments to focus. In trains of thought. Focalization, Foul Ballpark deflating the misconception that almost every case, these professionals concentration, of consciousness are of making long lists and then reported experiencing “flow” (a la its essence. It implies withdrawal overscheduling your day can be a Csikszentmihalyi) in their work. from some things in order to deal bulwark against distractions, [HuffPo link via Boing Boing] effectively with others, and is a interruptions, and the crippling She also goes on to include some condition which has a real opposite in feeling of being overwhelmed. tips about managing attention and the confused, dazed, scatterbrained In this recent blog entry from the focusing on outcomes rather than just state which in French is called Huffington Post, Stone talks about a obsessing over building a long and un distraction, and Zerstreutheit in pattern she’s noticed from talking -doable list. Good post — and a great German. with people about how they think reminder that time management has “Zerstreutheit.” I love it when about and plan their day. no prayer of working if it’s not there’s a German word for my What did surgeons, artists, and accompanied by even tighter attention problem. CEO’s have in common? Most of management. 12 What Happens in Darfur (Portfolio.com: Culture and Johnson & Johnson “Concerning political issues, these Lifestyle) J&J defends itself against criticism: need to be resolved by governments “Given the complexities of the and international bodies such as the Submitted at 6/16/2008 3:00:00 AM tragedy,” a company spokesperson United Nations.” Coca-Cola notes, “we are disappointed that Visa Coke has stated in op-eds and at a Dream for Darfur has used such a In a statement issued to the media, shareholders meeting that sponsors narrow context by which to evaluate Visa says it seeks “urgent resolution” shouldn’t push a political agenda. In a the company’s response.” of issues surrounding the Games. rebuttal to the activist group Dream Kodak “Our hope...is that the Summer for Darfur, the company stated, “To Because Kodak is shifting to a Games in Beijing will provide a criticize those who are helping business-to-business model, this is its means for increasing dialogue around thousands every day is more than last Olympic sponsorship. In a range of issues—certainly including ironic.” February, Kodak sent letters to the human rights.” General Electric U.N. and the International Olympic Related Links “The role of a sponsor isn’t to take Committee demanding that they No Word From Our Sponsors up cause X, Y, and Z,” a G.E. apply their influence to end the Spielberg Withdraws As Artistic representative says. “We commend genocide in Darfur Advisor To Olympics Dream for Darfur for raising McDonald’s Brangelina Does Not Star in This awareness of this tragic situation,” the McDonald’s feels it deserves a Sundance Documentary About rep told the New York Times,“but we break today. Its upbeat statement to Foreign Adoption strongly disagree with the the media about athletic glory organization’s approach.” includes this catchall disclaimer: Lacker: Inflation Not Is it worthy? (Seth's Blog) appropriate when you consider what you could have done? What would ’70s Style, but Still Too Submitted at 6/17/2008 4:45:00 AM someone with a bigger vision have Is this the best I can do? done instead? I’ve paid for the rent and the Is being negative or bitter or selfish High furnishings and the menus and the within reason in face of how staff and the insurance... is this plate extraordinarily lucky we were to have (WSJ.com: Real Time recession. However, he said in of food worthy of what went before been been born here and born now? Economics) prepared remarks it is poised for only it? I take so much for granted. Perhaps “tepid growth.” Still, he showed Submitted at 6/16/2008 1:10:00 AM I’ve flown across the country to you do as well. To be here, in this optimism in relation to consumer visit this museum--a building that moment, with these resources. To Inflation expectations have not risen spending in the coming months. cost more than a billion dollars to have not just our health but the to levels of the 1970s, however, “People tend to look forward and will create and fill and maintain. Is my knowledge and the tools and the inflation still is “unacceptably high,” often take a temporary shock in attention focused enough? infrastructure. What a waste. a regional Federal Reserve Bank stride, even a severe one,” he said, We paid $300 in marketing costs If I hadn’t had those breaks, if there president said Monday. Lacker adding, “Despite several years of just to get this phone to ring this one weren’t all those people who had “Inflation expectations are higher elevated inflation, the public’s time. How shall we answer it? sacrificed or helped or just stayed out than I would like,” said Jeffrey expectation of future inflation has not I’ve had a great education, suffered of my way... what then? Would I Lacker, president of the Federal become completely adrift as it was in and scraped and scrounged to get this even have had a shot at this? Reserve Bank of Richmond. Lacker is the 1970s.” point... is this diagnosis, this surgery, What if this were my last post? not currently a voting-member of the The Fed’s massive interest rate cuts this prescription, this bedside manner Would this post be worthy? interest rate setting Federal Open in the past several months have the end that justifies that effort? The object isn’t to be perfect. The Market Committee. During his last helped lessen the severity of the We live in a stable democracy, a goal isn’t to hold back until you’ve rotating term as a voting member in nation’s economic slowdown. “There place where people have lived and created something beyond reproach. I 2006, Lacker dissented repeatedly is currently a good deal of monetary died to give us the freedom to speak believe the opposite is true. Our from FOMC decisions to hold rates stimulus in the pipeline to support out... is that talking head or this birthright is to fail and to fail often, steady, arguing instead for higher activity in the months ahead,” Lacker spinning pundit the best we can do? but to fail in search of something rates to quell inflation. said. Or is he just trying to make a profit bigger than we can imagine. To do Speaking to a group of business But he said withdrawing some of and air another commercial? anything else is to waste it all. executives and community leaders in that stimulus as downside risks to the Is cutting corners to make a buck Spartanburg, S.C., Lacker urged the economy diminish makes sense. “As Federal Reserve to act vigilantly in we move through this period of low 3-D fighting inflation. Lacker said growth, we need to be attuned to the continued from page 2 inflation is stable but cautioned that risk that we emerge from the stability should not be allowed to lead slowdown with inflation following a theater. to complacency. ( See the full text of higher trend than when we went in,” Bringing in 3-D will boost the the speech.) Lacker said.– Meena Thiruvengadam quality of the experience, but it still The economy, he said, is not in a might not be enough to lure butts out of living rooms and into cinemas. Home theaters will soon be able to show 3-D. I visited a Kodak lab Mack in the Mire where a team is working on a 3-D (Portfolio.com: Top 5) million from the sale of its Spanish John Mack, Morgan Stanley's chief display, and the images rivaled what I onshore mass affluent wealth executive, said. saw in Walden’s screening room. “It Submitted at 6/18/2008 5:30:00 AM management business, and $732 Like other Wall Street firms, will be three years before the price Goldman Sachs may have calmed million related to the secondary Morgan Stanley has been shaking up and package are appropriate for some fears, but Wall Street continues offering of MSCI. the executive suite, getting smaller, consumer applications,” says Kodak to be a very nervous place. Revenue from equity sales and shoring up capital and liquidity. For researcher Patrick Cosgrove. There were no bombshells or trading declined 11 percent. Revenue the quarter, it is taking severance There’s another potential glitch in surprises in Morgan Stanley's second- from fixed income, with credit expenses of $245 million. Hollywood’s 3-D scheme: Theaters quarter results. Earnings tumbled 60 markets still trying to recovery from The question for Morgan Stanley is are losing their appeal. “3-D doesn’t percent, yet were still slightly better their paralysis, tumbled 85 percent, to where —with credit markets shaky address the core problem,” says than analysts' forecasts. $414 million. and deal making soft—it is going to George Mason University professor Revenue, however, came in a little Its asset management business had find real growth. Tyler Cowen, who has written shy of estimates and that has worried a pre-tax loss of $227 million, Related Links extensively about the economics of some about whether the Street can compared with pre-tax earnings of Wall Street Requiem entertainment. He says that people ever revive the money-making $303 million in the quarter a year Mack Crawls Back don’t go to theaters because the machine. ago. Mark-to-Model on Wall Street: The screen is bigger or the image is in 3- Net revenue, or revenue minus "Given the turbulent environment Numbers D; they go because they want to go interest expenses, fell 38 percent, to this quarter, we stayed close to shore out. Theaters have suffered to a large $6.51 billion. The results were helped and continued strengthening the degree because they fail to provide by the sale of some holdings: $698 firm's capital and liquidity positions, 3-D page 14 13 Markets Pare Rate- Tough to Find Silver Lining in Housing Starts Increase Expectations (WSJ.com: Real Time (WSJ.com: Real Time Economics) Economics) Submitted at 6/17/2008 10:23:00 AM Submitted at 6/17/2008 11:01:00 AM Home building may not have found Futures markets reduced the chances its bottom yet. for an increase in the federal funds The Census Bureau this morning rate in the wake of articles from the said housing starts fell 3.3% in May Journal and the Financial Times that to a seasonally adjusted annual rate of said policymakers are unlikely to 975,000 units. That’s the lowest level raise rates soon. since March 1991, when the housing Yesterday markets were putting a market was crawling its way out of an 90% chance on a quarter-percentage- epic, five-year collapse. point increase in the federal funds Most of the pain has been felt in rate to 2.25% at the Aug. 5 meeting, single-family starts, the biggest chunk but those odds were dropped to 69% of the market. They fell another 1% following the Journal and FT articles. last month and are down 63% since In today’s Journal, Sudeep Reddy peaking in January 2006. wrote, “For now, Fed officials want The silver lining is that total to both demonstrate their vigilance housing starts are now down 57% weakening. against inflation risks, particularly appear to match the balance of views from their peak, nearly matching the from soaring energy prices and the within the U.S. central bank.” And history offers another lesson 59% decline, on average, in every that’s not quite so encouraging: In weak dollar, while also giving the The markets continued to whittle major housing downturn since 1964. economy time to recover from the away at rate-increase odds following every downturn since 1964, starts If history is any guide, then that could have bottomed at an annualized level trouble in the housing, labor and reports on housing starts and be a sign a bottom is near. financial markets. As a result, the producer prices, now putting odds of of 845,500 units, on average. A The trouble is that it is tough to retreat back to that would mean Fed’s policy statement following its an August increase at about 64%. For make a case for a rebound in starts meeting next Tuesday and next week’s FOMC meeting, markets another 13% decline in starts from any time soon. There are still far too here.–Mark Gongloff Wednesday is likely to use stronger put only about 14% chance for many houses on the market, language about the risks from quarter-point raise, down from 26% foreclosures and interest rates are inflation than in May, but is unlikely yesterday. rising, and the job market is to go so far as to ratify market However, while Treasury yields are expectations of a rate hike as soon as down today, the two-year yield August.” remains within a few points of 3%, Krishna Guha of the FT wrote, “In suggesting the bond market isn’t Free Books for your recent days the market has gone from ready, at least not yet, to give up pricing in one rate increase by the end completely on the idea of some Amazon Kindle of the year to pricing in at least three dramatic increases.–Phil Izzo and possibly four. This does not (43 Folders -) directly to your Kindle, usually in less than a minute or so. Zesty. Hello, Submitted at 6/6/2008 12:45:05 PM 1984 and A Princess of Mars. My pick of the week on the latest In addition to all the great stuff Superheroes episode of MacBreak Weekly wasn’t Andy has enumerated, these free (Seth's Blog) though that isn't enough. so much my new Kindle(which I do book services have made me see the Superheroes don't have a look, but like a lot), but rather a few services Kindle as a flawed but fascinating Submitted at 6/16/2008 12:06:00 PM they definitely have an attitude. that make it easier to find and game-changer. More tips and buying As part of a promotion we're doing, They're restless and impatient, but, download free books you can read on advice coming soon (short version: it I built a Squidoo page about my here's the cool paradox, they're also the Kindle. These picks included ain’t for everybody, by a long shot, friend Jacqueline. calm and patient. Patient because they Project Gutenberg, Manybooks.net, but it’s surprisingly great for It got me thinking about what it realize that change takes a while. and the wonderful Feedbooks. commuters and travelers who devour takes to make change, particularly Patient because they understand that Feedbooks is the service I novels in particular). change in the way markets respond. if it's worth doing, it's worth getting highlighted as being the most And, if you’re still hungry for more Markets are big and slow and often through the Dip. Impatient and interesting of the three to me since Kindle-friendly book sites, check out sort of dumb, so a memo isn't going restless, though, because they refuse you can download one Kindle/Mobi Free Kindle Books and Free Ebooks to be enough to make change happen. to accept the status quo. Most of the book( more info) containing clickable Online. The post contains a large As far as I can tell, there's no time, of course, these can't co-exist. links to hundreds (thousands?) of free collection of links that can help fill demographic formula for determining Most of the time, the impatient flit. and Creative Commons-licensed your reader in no time. who will make a difference. It doesn't They don't stick it out. Acumen just books that can be downloaded seem to matter where you were born, celebrated their seventh anniversary how much money your parents made and this is the year traction is really or where you went to college. Sure, a kicking in. head start in those areas makes it The more superheroes we can find, more likely that you'll end up in a the better. If you know one, celebrate position of leverage. But it seems as them! San Francisco Fed Sees Growth Picking Up (WSJ.com: Real Time Monday, economist Reuven Glick inflation will remain “relatively Economics) said strong retail sales in May stable.” combined with less of a drag from the For 2009, the San Francisco Fed is Submitted at 6/17/2008 3:21:00 AM housing sector are contributing to the forecasting annualized economic The San Francisco Fed is expecting rosier outlook. However, Glick growth of 3% on further stronger U.S. economic growth in the expects slower growth in the fourth improvements in the housing sector second and third quarters than it had quarter as the government’s fiscal and easing credit constraints. Glick previously anticipated, an economist stimulus package ends. ( See also said in the newsletter that with the bank said. corresponding charts.) increases in market interest rates Source: San Francisco Fed Glick is forecasting headline that figure to fall as commodity prices “imply monetary policy tightening is In a monthly FedViews newsletter inflation of more than 4% in the steady or decline. He predicts core expected in the future.”–Meena posted to the bank’s Web site late second and third quarters. He expects Thiruvengadam 14 The power of remarkable (Seth's Blog) Submitted at 6/18/2008 3:19:20 AM When I first wrote about Little Miss Matched about five years ago, they were an obscure little sock company, selling funky socks to fashionable girls. The idea was beyond clever. 3 to a box, 133 styles, none of them match. Instead of a strategy built around a funding with the folks who financed consultant's vision of 'utility' or a Build a Bear's retail rollout. Money strategy built around cheap or a isn't the only point, of course, but if strategy built around excessive retail that's the way you keep score, that's a distribution and heavy advertising, long way for a little company to come they built their strategy around one in five years. girl saying to another girl, "wanna see [full disclosure: My feet are Guide to Better Napping my socks?" sponsored by LMM and I wear their (43 Folders -) what you can do to improve your I couldn't have invented a better socks every day. I am compensated environment for good sleep. Purple Cow story if I had tried. by the company--they give me 33 free Submitted at 6/17/2008 6:55:29 AM Yeah, yeah, I know. I’ve heard it The company let me know today socks a year (not pairs of socks, just How to nap - Boston.com before: napping shouldn’t require a that they just did a huge deal with 33 socks), worth about $110.] I’m a big fan of napping and often guide and software. But an Macys and closed a $17 million evangelize the transformative power astonishing number of people I’ve of a quick Pzizz. If you’re new to the talked to just can’t bring themselves nap habit — or if you buy the to sleep during the day (and many propaganda that naps are only for sleep poorly at night as well). As a infants and layabouts — treat marginally sleep-deprived Dad, I’m yourself to this cool infographic from all for anything that helps people get The Boston Globe(shown in part rested and refreshed, and the advice above). in this little guide comports with [via Arts & Letters Daily] everything I’ve learned about making It’s full of handy tips for learning naps work. when you’re most likely benefit from Happy napping. a nap, how long to snooze, as well as 3-D continued from page 12 their customers with great going-out greater forces at work here suggest experiences: They have crummy something other than a happy ending. seats, sell expensive and bad food, For Hollywood, 3-D may indeed be and don’t serve alcohol. If all this is like Viagra—a temporary cure for a true, efforts by Malco and other situation that will only get worse over chains like Landmark to introduce time. Related Links such amenities as couches and A Rich Green Beast on the Great waiters might have more impact on White Way the theater business than 3-D will. 3-D Movies: Wave of the Future? Maybe the money that theaters are DreamWorks Animation Sees Some spending on 3-D could be better used Extra Green on other things. NAHB Survey: Builders as Despite the efforts of Anschutz, Gloomy as Ever Cameron, Katzenberg, and others, the (WSJ.com: Real Time Northeast and in the West, coming in Economics) flat in the Midwest. Sentiment rose in the South. Submitted at 6/16/2008 1:56:00 AM “The housing economy is hurting,” U.S. home builders’ confidence in said NAHB Chief Executive Jerry the market took a nosedive in June, Howard, in a teleconference with according to the results of a monthly reporters. The NAHB also renewed index the National Association of its call on lawmakers to include a tax Home Builders released Monday. credit for home buyers in a housing The association’s latest index for stimulus package being considered in sales of new, single-family homes Congress. dipped to just 18 in June, matching a NAHB has been conducting the record low set in December 2007. survey for more than 20 years. Any The index, which was 19 in May, number over 50 indicates that more gauges builders’ perceptions of builders view sales conditions as current home sales as well as sales good than poor. expectations for the next six months. Chart: NAHB via Lehman Brothers Sentiment fell sharply in the