Two coffee companies which sell their products online and through retailers are merging. They should be able to create a formidable competitor for Starbuck’s retail business outside its own stores. Diedrich (NASDAQ:DDRX) will be bought by Peet’s NASDAQ:PEET) for $26 a share or $213 million. The consideration is well above Diedrich’s current price of just over [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Royal Bank of Scotland and Lloyds Banking Group are to sell off many bank branches to appease competition concerns. Source: BBC News | Business | World Edition | 3 Nov 2009 | 3:30 am
New, groundbreaking features can alert you to danger before you even know it's there. But added safety comes at added cost. Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 3:19 am
Reuters - Britain's two largest retail lenders have agreed to a massive shake-up of the banking sector that will see both sell hundreds of branches and key businesses to appease EU concerns over state aid and competition.
Arsenal director Stan Kroenke buys more shares in the football club, moving nearer the threshold that would trigger a takeover bid. Source: BBC News | Business | World Edition | 3 Nov 2009 | 3:17 am
U.S. stock futures tumbled Tuesday, as investors remained on edge ahead of the start of the Federal Reserve's two-day policy meeting. Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 3:16 am
A treaty that would streamline the 27-nation European Union’s decision-making process and create the post of European president survives a challenge in the Czech Republic’s top court.
Reuters - Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500, Dow Jones and Nasdaq 100 down 0.9-1.1 percent.
Reuters - Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500, Dow Jones and Nasdaq 100 down 0.9-1.1 percent.
British shares fall sharply in London on Tuesday, although share prices for banking groups Royal Bank of Scotland and Lloyds Banking Group diverged after they updated investors on asset-protection-scheme participation.
AFP - The German retailer Metro on Tuesday reported stable profits in the third quarter but declined to give an outlook for the rest of the year after a survey showed falling consumer confidence in Germany.
LONDON (Reuters) - Britain's two largest retail lenders have agreed to a massive shake-up of the banking sector that will see both sell hundreds of branches and key businesses to appease EU concerns over state aid and competition.
Bankers from the nation’s 28 largest banks were called to regional Federal Reserve offices across the country today to get a message from the agency. That message was that they should not wait for new guidelines that will align banker pay with risk. They should guess what the guidelines will be and apply them to [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
NEW YORK (Reuters) - Executives do not expect the U.S. commercial real estate market to emerge from critical condition any time soon, according to a survey by The Real Estate Roundtable.
Reuters - Executives do not expect the U.S. commercial real estate market to emerge from critical condition any time soon, according to a survey by The Real Estate Roundtable. Source: Yahoo! News: Business | 3 Nov 2009 | 2:48 am
Jerome York is a nasty piece of work and a financial genius who has been successful as a lieutenant to billionaire raider Kirk Kerkorian. York’s curriculum vita as a financial analyst is impeccable. He has been CFO of Chrysler and IBM (NYSE:GM) and a board member of GM, when it still had a real board, [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Question: My husband and I are in our late '50s and haven't put anything away for retirement, although we do own our home. We figure we'll work another 10 years or so before retiring. Do you have any helpful suggestions for us so we won't have to live solely on Social Security? --Peggy, Rockvale, Colorado Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 2:46 am
WASHINGTON (Reuters) - Federal Reserve officials meeting this week must weigh improving economic data against the risk, reinforced by a persistently weak job market, that a burgeoning recovery remains on shaky ground.
Reuters - Federal Reserve officials meeting this week must weigh improving economic data against the risk, reinforced by a persistently weak job market, that a burgeoning recovery remains on shaky ground. Source: Yahoo! News: Business | 3 Nov 2009 | 2:44 am
BMW's third-quarter profits fall after sales slide, but the carmaker says it is aiming to make a profit for the full year. Source: BBC News | Business | World Edition | 3 Nov 2009 | 2:36 am
As the nation tries to deal with its annual $2.2 trillion health care pricetag, there's a way you can help save as much as $1 trillion: Take better care of yourself. Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 2:33 am
Australia's central bank on Tuesday raised interest rates for the second time in just over a month as evidence mounted that the nation's economic recovery is building momentum.In lifting the cash rate... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 2:32 am
Northern Bank reports a loss of £7.5m for the third quarter of 2009 but its chief executive says there is room for "cautious optimism" Source: BBC News | Business | World Edition | 3 Nov 2009 | 2:20 am
Stagecoach, the bus and train company that has been stalking National Express, warned today that trading remained tough, particularly in its rail businesses.
LONDON (Reuters) - World stocks dipped toward the previous session's four-week lows on Tuesday as investors continued to fret over the early removal of government stimulus, particularly in the financial sector.
European shares falll Australia kicks off a busy week for central bank interest-rate decisions with its second hike in two months, while asset-protection scheme updates from two British lenders place the focus firmly on the banking sector.
WASHINGTON (Reuters) - For-profit insurance companies use a smaller amount of premium dollars on medical claims than consumers are being told, according to a Senate analysis of data filed with insurance regulators.
Lloyds Banking Group and Royal Bank of Scotland on Tuesday announced that they were raising 54.5bn in moves engineered in conjunction with the UK government and the European Commission.Lloyds, which is... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 2:08 am
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates. Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 2:05 am
Libya should atone for its past IRA support by putting money into Northern Ireland's economy, a delegation of politicians says. Source: BBC News | Business | World Edition | 3 Nov 2009 | 2:05 am
Britain's partnationalised banks Lloyds Banking Group and Royal Bank of Scotland have detailed how they plan to reduce reliance on state aid includng a record £13.5bn rights issue and disposals. This is how the Chancellor and others viewed the plans. Source: Finance and Business. Latest breaking news stocks and shares from the UK and world | 3 Nov 2009 | 2:04 am
A meat producer announced Monday it is voluntarily recalling more than half a million pounds of ground beef because it may be contaminated with potentially lethal bacteria. Source: Business and financial news - CNNMoney.com | 3 Nov 2009 | 1:57 am
Reuters: The value of the yuan could cause a trade war between the US and China.
Reuters: Executive pensions rose despite drops in stock prices.
Reuters: Lloyds will make a large stock offering.
Reuters: Stanley Works (NYSE:SWK) bought Black & Decker (NYSE:BDK) for $3.46 billion.
Reuters: CIT’s (NYSE:CIT) exit from bankruptcy is not clear.
Reuters: UBS (NYSE:UBS) posted a loss and wealth management [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Banking stocks dragged London equities market lower on Tuesday as the shake-up of the sector entered a new phase. Royal Bank of Scotland confirmed it was to receive another 25.5bn in public money as it... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:48 am
LONDON (Reuters) - Oil slipped below $78 per barrel on Tuesday ahead of data expected to show a rise in U.S. crude oil stocks and before key U.S. economic figures later in the week.
The Czech constitutional court has ruled that the Lisbon treaty does not violate the country’s constitution, opening the way for President Vaclav Klaus, the last EU holdout, to sign the pact Source: Financial Times - US homepage | 3 Nov 2009 | 1:37 am
Lloyds will raise at least 21 billion pounds of capital ($34.4 billion), while Royal Bank of Scotland agrees to take the insurance under revised terms.
UBS on Tuesday announced a bigger-than-expected loss of SFr564m ($551m) for the third quarter, as improved earnings in investment banking were overshadowed by continuing one-off charges particularly revaluations... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:30 am
The two state-owned banks announced that they were raising more than £50bn in moves engineered in conjunction with the UK government and the European Commission Source: Financial Times - US homepage | 3 Nov 2009 | 1:24 am
Markets in Asia were mixed.
The Hang Seng was down 1.8% to 21,240.
The Shanghai Composite was up 1.2% to 3,114.
At the open in Europe, The FTSE was down 1% to 5,053. RBS (NYSE:RBS) fell sharply. The Dax fell 1% to 5,376. The CAC 40 was lower by 1.1% to 3,600.
Data from Reuters and MarketWatch.
Douglas A. McIntyre
Posted [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
'Baked In' ignores that it's far easier to craft marketing to fit the product than to craft product to fit somebody's idea of good marketing.
A new book on advertising reminds me of a joke William Shatner once told on "Saturday Night Live": "Star Trek" is really popular in Japan, where it's known as "Sulu, Master of Navigation."
The Carlsbad, Calif., City Council approves a plan for a 254-room Lego-themed hotel outside the park entrance. The California Coastal Commission also must approve the proposal.
Investors may be allowed to sue funds' board members if the fees are considered excessive.
The U.S. Supreme Court debated Monday whether the fees charged by mutual funds were too high, and if so, whether investors should be allowed to sue the boards that approved them.
The 101-year-old lender's months-long financial struggles have been a boon to rivals, which have picked up hundreds of its clients.
On the heels of its bankruptcy filing, CIT Group Inc.'s future as a commercial lending giant will be determined by the confidence of its creditors and customers.
Downtown L.A.'s biggest office landlord continues to be hurt by declining rents, but its third-quarter results are an improvement from the same period last year, when it lost $72.5 million.
Maguire Properties Inc., one of the region's largest commercial landlords, posted a $46.8-million third-quarter loss Monday as the weak economy continued to drag down office rents.
For decades, the chain would not hire men as waiters. The company said it changed the policy in 2004.
The Lawry's chain of high-end steakhouses will pay more than $1 million to settle a federal discrimination lawsuit contending that for decades it hired only women as servers, the government said Monday.
Ford's surprisingly strong quarterly earnings and other upbeat economic reports contrast sharply with the rising U.S. unemployment that threatens the nascent recovery.
Ford Motor Co.'s surprisingly strong quarterly earnings capped a day of upbeat news that showed the U.S. economy continuing to gain strength in key sectors including manufacturing and housing.
Alfred Villalobos has spent years helping Wall Street players gain access to the California Public Employees' Retirement System's vast wealth. What he did for his fees is now part of a CalPERS probe.
When big investment firms want to tap public pension funds for money, they often put in a call to Alfred J.R. Villalobos.
KVA Stainless of Escondido had been developing lightweight parts for cars but switched to supplying piping to bicycle makers. It's also exploring the use of steel in golf clubs and lacrosse sticks.
The e-mail from an executive at Ford Motor Co. was blunt and direct.
The 101-year-old lender's months-long financial struggles have been a boon to rivals, which have picked up hundreds of its clients. ... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
The $4.5-billion, all-stock deal would create the largest U.S. toolmaker, analyst says. The toolmaker Stanley... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
Downtown L.A.'s biggest office landlord continues to be hurt by declining rents, but its third-quarter results are an improvement from the same period last year, when it lost $72.5 million. ... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
Ford's surprisingly strong quarterly earnings and other upbeat economic reports contrast sharply with the rising U.S. unemployment that threatens the nascent recovery. ... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
For decades, the chain would not hire men as waiters. The company said it changed the policy in 2004. The Lawry's... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
'Baked In' ignores that it's far easier to craft marketing to fit the product than to craft product to fit somebody's idea of good marketing. ... Source: RSS feed - channel BNPaperBusiness | 3 Nov 2009 | 1:00 am
Royal Bank of Scotland (RBS) and Lloyds have both agreed to defer bonuses in return for an additional £40 billion of taxpayers' money as part of a deal with the Government that will break up two of Britain's biggest lenders.
Swiss bank UBS posts a third-quarter loss of 564m Swiss francs after being hit by accounting costs of 2.15bn francs. Source: BBC News | Business | World Edition | 3 Nov 2009 | 12:41 am
SYDNEY- The Australian share market closed slightly lower on low trading volumes because of the Melbourne Cup.QBE Insurance led most financial stocks down and gold miners led the gainers as the precious metal increased in value.The... Source: nzherald.co.nz - Business | 3 Nov 2009 | 12:29 am
AP - Asian stock markets were mostly lower Tuesday despite improvement in U.S. manufacturing as doubts lingered about the durability of a rebound in the world's largest economy.
NEW YORK/BANGALORE (Reuters) - Stanley Works struck a deal to buy rival Black & Decker Corp for $3.46 billion in stock, combining a top hand tool maker and power tool maker to benefit from higher margins and cost savings.
Australia, which managed to avoid recession, raises its main interest rate once again - this time from 3.25% to 3.5%. Source: BBC News | Business | World Edition | 2 Nov 2009 | 11:39 pm
The New Zealand sharemarket drifted lower today after receiving fairly mixed signals from offshore.The main US indices trimmed early gains but closed up as enthusiasm from a solid bout of economic data was dampened by a Federal... Source: nzherald.co.nz - Business | 2 Nov 2009 | 11:14 pm
City Minister Lord Myners tells the BBC about his fears over the dangers of high-speed automated share dealing. Source: BBC News | Business | World Edition | 2 Nov 2009 | 11:03 pm
The New Zealand dollar ended a mixed session with a muted reaction to news today that the Reserve Bank of Australia raised its cash rate by 25 basis points to 3.5 per cent.The NZ dollar had a bumpy ride on Monday night, rising... Source: nzherald.co.nz - Business | 2 Nov 2009 | 10:42 pm
CHICAGO (Reuters) - Kraft Foods Inc will need to show progress in cutting costs and improving organic revenue when it reports earnings on Tuesday, in a bid to convince Cadbury shareholders it is a viable deal partner.
Reuters - Kraft Foods Inc will need to show progress in cutting costs and improving organic revenue when it reports earnings on Tuesday, in a bid to convince Cadbury shareholders it is a viable deal partner. Source: Yahoo! News: Business | 2 Nov 2009 | 10:21 pm
The Reserve Bank of Australia (RBA) has blunted Melbourne Cup day celebrations for borrowers with a further 25 basis point increase in the cash rate to 3.50 per cent.The increase, the second in as many months, will lift monthly... Source: nzherald.co.nz - Business | 2 Nov 2009 | 9:58 pm
Rising dairy prices continue to underpin gains in the ANZ Commodity Price Index, which has recorded its seventh straight monthly gain last month.The index gained 4.6 per cent in October, led by an 8.3 per cent increase in dairy... Source: nzherald.co.nz - Business | 2 Nov 2009 | 9:25 pm
Reuters - Pensions for top U.S. executive rose by an average of 19 percent last year, and more than 200 officers saw their retirement savings surge by as much as 50 percent, even as their companies stock prices fell, the Wall Street Journal reported on Monday. Source: Yahoo! News: Stock Markets News | 2 Nov 2009 | 9:03 pm
NEW YORK (Reuters) - Pensions for top U.S. executive rose by an average of 19 percent last year, and more than 200 officers saw their retirement savings surge by as much as 50 percent, even as their companies stock prices fell, the Wall Street Journal reported on Monday.
Air New Zealand says it is buying 14 new Airbus A320 aircraft to fly its domestic routes, replacing its ageing fleet of Boeing 737-300 jets.The first of the new planes is due to arrive in January 2011, with the rest progressively... Source: nzherald.co.nz - Business | 2 Nov 2009 | 9:00 pm
New employment figures are seen as an indication wage growth is moderating further, although also including some tentative evidence the economy is stabilising.The data published today by Statistics New Zealand (SNZ) shows worker... Source: nzherald.co.nz - Business | 2 Nov 2009 | 8:30 pm
A government-funded survey raises questions about the productivity gains to be made from providing fast internet access.The survey by Motu Economic and Public Policy Research found a productivity effect of having broadband, compared... Source: nzherald.co.nz - Business | 2 Nov 2009 | 8:00 pm
Stanley Works, maker of the world-famous handyman’s knife, has cut one of the biggest DIY deals of all time by taking control of Black & Decker, the tools and workbench maker, in a $4.5 billion ($£2.7 billion) deal.
Telecity sits within the IT services sector, but it might just as well be considered a property play. Source: Latest Business News from Times Online | 2 Nov 2009 | 5:01 pm
Key shareholders in National Express are calling for Jorge Cosmen, the deputy chairman, to reconsider his position as tension grows between the executive and other board members.
The Government will today announce plans to inject a further £40 billion of taxpayers’ money into Royal Bank of Scotland and Lloyds Banking Group as part of a fresh, wide-ranging restructuring of the UK banking sector.
Ownership of Friends Reunited has proved costly for ITV, but yesterday the broadcaster was told that it might not be allowed to sell it, even for a £145 million loss.
The Financial Services Authority (FSA) has agreed to reassess the controversial system for compensating customers of failed financial institutions, after months of heavy pressure from critics who claim it is unfair.
A consortium of the New Zealand Superannuation Fund and infrastructure investor Infratil has entered into exclusive negotiations with Shell over possibly buying Shell New Zealand's refining, distribution and retailing businesses.The... Source: nzherald.co.nz - Business | 2 Nov 2009 | 5:00 pm
Every business, they say, needs a catchy name – but some people evidently can’t tell the differance between ‘catchy’ and ‘ridiculous’. Would you have your haircut at Assman the barber or get a quote from Mammoth Erection scaffolders? Read on for some of the most unfortunately named companies on earth…
Finding a decent scaffolder can sometimes be hard. But if you phone up Mammoth Erection scaffolding asking for some long, firm poles, don’t be surprised if they hang up on you. And don’t be surprised if your bank manager raises his eyebrows when your payment clears at the end of the month.
This might be passed off as one of those lame corporate jokes, if only the company wasn’t actually so mind-numbingly generic. ‘…mission statement… blah…innovative solutions…blah…’. Only call your company ‘Boring’ if you plan on using the skull and crossbones as your logo and having fireaters and topless dancers in the office.
Absolutely nothing to do with Snoop Doggy Dogg’s soft porn emporium of the same name (we think). This dog outfitter undoubtedly thinks they’re being very funny and clever with this one – but I doubt if the little old lady down the road will be clothing her mangy cur with them.
Politicians and high court judges have been enjoying the illicit amusments of S&M for decades. But they might get a shock when, expecting Miss Whiplash, they are instead given a quote for coin-operated arcade machines.
When you choose to use a particular company, it’s nice to know they’re good at what they do – but the name Boxwell for a funeral services goes way past reassurance, beyond a sick joke and into the realms of the horrifyingly morbid. People want to be gloriously entombed, not boxed up and put in storage.
You’d think an Italian bar that was bothered enough to use an English name would also be bothered enough to check what that name meant. After all, calling your bar ‘The Black Cock’ as an exercise in marketing might severely limit your target audience – unless, of course, you’re that kind of bar.
Yet another hairdressers who have hit upon the life-changing discovery of the dye/die pun – what a pity it’s not really helpful in the context of getting your hair cut. ‘See Paris & Dye’: maybe as a tourist novelty… ‘Curl Up & Dye’: no thanks, I just want a haircut…
Another name that would be great if only it made sense. Bimbo could base themselves entirely around a range of novelty baked products for, or by, idiots – the dipsy doghnut, airhead loaf or clueless tart perhaps. As it is they don’t produce these products and their name is just dumb.
12. Pee Pee Gas
The sign for Pee Pee Gas sits gloriously alongside another for Pee Pee Creek in Piketon, Ohio, providing endless fun for schoolboys and the immature everywhere. Unsurprisingly, for a company with such obviously limited marketing power, they don’t have a website.
More Brokeback Mountain then Nantucket, this organic butcher shop in Massachusetts manages to make itself sound disturbingly like either an open air wild-west brothel, or a gay bar for cowboys. Maybe we’ve just got dirty minds…
We’ve all heard the horror stories about unscrupulous male employees at McDonald’s putting a little something extra in your mikshake (yes, we do mean semen) – but openly putting ‘orgasmica’ in the name of your fast food company is surely business suicide. Mayonnaise anyone…?
9. Menlove Dental Practice
You might think twice next time you’re due a quick check-up if your dentist is called this – everyday dentists’ sayings such as ‘open wide’ and ‘it’s just a little prick’ might take on a disturbing subtext.
Does this ever stop being funny? We thought Kum & Go was what women think all men do. Nope. The two gentleman who created these highway stores cunningly combined the first letters of their surnames – evidently they were so pleased with themselves, they didn’t notice until it was too late. Woops.
Why, oh why, write Kids Exchange as one word? Has nobody noticed it looks more like Kid Sex Change or Kid Sex Exchange? Surely advertising this business is a quickfire way to go straight to jail. Exchange your kids for sex? Don’t think so.
6. Cock’s Restaurant, NY
Hard to tell with this one – do they have cocks on the menu, cater to a clientele of cocks or are they simply trying to set up a nude male restaurant to rival to Hooters? Perhaps, they just don’t care.
5. Assman the Barber
It’s hard to feel this name has any merit other than the fact it is the family name – surely you would have changed it by deed poll ages before starting up a barber shop…? In any case, we dread to think what kind of haircuts the delightfully named Assman specialises in. Or what it smells like in his shop.
4. Camel Towing
For those of you not familiar with the phrase ‘camel toe’ it is the phenomenon that occurs when a woman’s most delicate area is visible through tight pants (and said to resemble a camel toe) – popularised by the film, The Weatherman. The reality of Camel Towing, a breakdown service in Atlanta, is not quite as raunchy as it first appears. More’s the pity.
Wrong on so many levels. We can state with a high degree of certainty that we will never be ordering any food from ‘Dirty Dick’s Crab House’ for fear their secret ingredient is male member complete with crabs. If you don’t believe us check out the cartoon of ‘Dirty Dick’ – does he look like the kind of man who might have crabs to you? Exactly
You’d assume that no respectable man or woman would ever purchase insurance from a bunch of Kuntz? Perhaps part of being respectable is being able to look past these things…
1. Fuk Mi Sushi Bar
If ever there was a case of lost in translation, this is it. So abominably named, it’s like something out of the Simpsons – the employees of this firm must have a hell of a laugh every day with classics like ‘ask me where the best sushi bar is and I’ll just say Fuk Mi’, or answering the phone ‘Fuk Mi, how can I help?’. Or alternatively, a little piece of them might die every time they hear these same lame jokes.
Darling to confirm that the government will contribute more than £30bn of the capital for a startling reshaping of the finance industry Source: Financial Times - US homepage | 2 Nov 2009 | 4:42 pm
DETROIT (Reuters) - General Motors Co had $13.6 billion remaining in its U.S. government-funded escrow account as of October, after making payments related to the restructuring of its former parts subsidiary Delphi, the company said on Monday.
WASHINGTON - Hopes for the fledgling US economic recovery got a boost on Monday from better-than-expected news on manufacturing, construction and contracts to buy homes.The surprisingly strong readings provided some comfort that... Source: nzherald.co.nz - Business | 2 Nov 2009 | 4:30 pm
A legal spat over a disputed hedging contract held by Haisheng Juice Holdings could have implications for both of the US investment banking rivals Source: Financial Times - US homepage | 2 Nov 2009 | 4:14 pm
The group is to unveil a platform that it hopes will allow it to tap into additional commerce that is not typically completed on Ebay or other e-commerce sites Source: Financial Times - US homepage | 2 Nov 2009 | 4:01 pm
Bill Gates was noted just last week as getting more entrenched in the waste disposal sector. It turns out that Mr. Gates is getting deeper into the auto-retailing sector as well. In an SEC filing after the closing bell, Gates added some 500,000 shares to his stake of AutoNation, Inc. (NYSE: AN). His Cascade Investment [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Reuters - Toronto's main stock index finished lower on Monday, hurt by profit-taking and a selloff in shares of BlackBerry maker Research In Motion following an analyst downgrade. Source: Yahoo! News: Stock Markets News | 2 Nov 2009 | 3:12 pm
Ford Motor reported a surprise profit for the third quarter Monday, helped by a bump in sales from the Cash for Clunkers program and problems at its U.S. rivals. Source: Business and financial news - CNNMoney.com | 2 Nov 2009 | 3:11 pm
AP - Stocks ended higher but well off their best levels of the day as volatility continued to tug at the market. Source: Yahoo! News: Stock Markets News | 2 Nov 2009 | 3:06 pm
The US central bank says draft pay guidelines aimed at curbing excessive risk-taking will have to be followed a year before they officially come into force Source: Financial Times - US homepage | 2 Nov 2009 | 2:57 pm
The tool sector for builders and home repair is about to get a lot smaller for investors looking for diversification of company choices to invest in. The Stanley Works (NYSE: SWK) and The Black & Decker Corporation (NYSE: BDK) have proposed a merger which would unite the brands. The companies see accretion to earnings per [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Its beaches don't compare with those of Bermuda or the Cayman Islands. You can't ski there. But the most boring state in the union is best damned tax shelter on earth.
The First State is finally first at something else, according to the Tax Justice Network. It's the best place for non-Americans to hide from their taxmen, earning the august moniker, "most secretive financial jurisdiction."
The equally insignificant Grand Duchy of Luxembourg placed in tax-haven sweepstakes, with odds-on favorite Switzerland finishing a distant third. The Cayman Islands and the U.K. followed the Swiss.
Glenn Hubbard says giving more money to mid-size businesses like this Ethiopian shoe company will do more to help poor Africans than our current aid model. (Aaron Maasho/AFP/Getty Images)
On today's Planet Money:
The world's governments have given a trillion dollars to developing nations since WWII, and yet in some countries, particularly in Africa, the economic situation is just as bad or worse than it's ever been.
Columbia economist and former economic adviser to the Bush administration, Glenn Hubbard, says it's time to change the way we give aid to Africa. Hubbard, co-author of The Aid Trap: Hard Truths About Ending Poverty, advocates a modern day Marshall Plan, which would give money directly to local business instead of government.
Chesapeake Energy Corporation (NYSE: CHK) has put to bed at least some of the concerns over how much lower natural gas prices seen earlier this year were going to affect its earnings performance through time. But there is at least some data here for bulls and bears alike. The company’s third quarter adjusted net income [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
VeraSun Energy Corporation (OTC: VSUNQ), which filed for Chapter 11 protection on July 31st 2009, announced that the 158 million share of common stock in the company have been cancelled. The shares currently trade at $0.0055. No new shares will be issued.
On October 30th Otter Tail Ag Enterprises LLC, an enthanol producer, filed for relief under Chapter [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Ford Motor offered a rare ray of hope for a car industry in the doldrums by reporting that it had made a $1bn profit in the third quarter Source: Financial Times - US homepage | 2 Nov 2009 | 1:59 pm
New York Mayor Michael Bloomberg is widely expected to win a third term in Tuesday's election. So why will he have spent as much as $140 million on the race? Jeremy Hobson reports. Source: Marketplace | 2 Nov 2009 | 1:52 pm
Charlie Gasparino's self-described "definitive book on the financial crisis," Up In Smoke, comes out tomorrow. Sadly, one of the main subjects of CG's most recent contribution to literature, Jimmy Cayne, will not be available to make an appearance at the party tomorrow evening, which is deeply upsetting to those of us who were hoping to get high in a bathroom stall with the former Bear Stearns CEO. And of course it's upsetting to Chaz, who is well-aware that just one Jimmy Cayne would beat all of the star power Andrew Ross Sorkin had assembled at his soiree last week. Which is why JC knew he had to break it to Gaspo easy. Calling the country reporter this afternoon, after what one can only assume was a seriously successful hotboxing sesh, Cayne, I shit you not, had this to say:
Charlie, I wanted to call and tell you that I'm sorry I can't make the book party. I really wanted to but I'm going to be out of town. I want to wish you the best of luck with the new book, and tell you that you are the greatest reporter in the history of reporting, hands down.
A bad day at home or a bad impression can lead to emotionally-influenced decisions at work and in business. Behavioral economist Dan Ariely explains feelings, nothing more than feelings, to Kai Ryssdal. Source: Marketplace | 2 Nov 2009 | 1:44 pm
In recent months, Jon and Kate Gosselin have reminded us what Thomas Robert Malthus has been warning about since the 1700s: unbridled population growth can be a very dangerous thing. This week, the Economist has an interesting look at why our worries may be unfounded, as long as TLC goes off the air some day soon.
In a cover story on falling fertility rates around the world, the magazine looks at economic and other benefits to tidbits like this: "sometime in the next few years (if it hasn't happened already) the world will reach a milestone: half of humanity will be having only enough children to replace itself. That is, the fertility rate of half the world will be 2.1 or below." Assuming fertility continues to fall at current rates, the United Nations estimates world's population will rise from 6.8 billion to 9.2 billion in 2050, at which point it will stabilize.
That raises this question: is a stable global population good for the globe or no? It's probably good for the environment of course. And yet without more kids, who is going to pay for the growing ranks of the elderly and rising health care and retirement costs around the world? Take a read and lets us know your take.
7 Days Group Holdings Limited is national economy hotel chain based in China, and it has just filed to come public via an initial public offering. No terms were disclosed other than the notion that it will sell up to $100 million in common stock via ADRs. It plans to list its stock under the [...]
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Businesses buying emissions permits in a global market would be politically more palatable than development aid. If most countries can see what is in it for them, a deal may yet be within reach Source: Financial Times - US homepage | 2 Nov 2009 | 1:34 pm
This is a post that Wall St. Cheat Sheet Editor-in-Chief Damien Hoffman wrote. He let us post it here, too. We hope you’ll find it as entertaining and relevant as we did.
After having time to reflect on Jim Cramer’s email to me (see below), I keep recalling the scene in the movie 300 where the God-King Xerxes tells Leonidas it would be a shame for his people to perish because of a simple misunderstanding. Like Cramer telling me to “take it [my post] down and apologize to me so we can move on,” Xerxes says Leonidas can simply bow down at his royal feet and all will be forgotten.
I do not project myself onto the great Spartan King Leonidas. Rather, I am witnessing a major movement unfolding where real journalists and activists have used the internet to finally battle against the entertainers and eyeball monopolists who have melted the brains and 401(k)s of America.
As we say on Wall Street, “The easy money has been made.” Media oligarchs have manipulated and omitted facts at will because the barrier to rebut their falsehoods was simply too high. But now sites like Zero Hedge, The Big Picture, Minyanville, Wall St. Cheat Sheet, and many others are posting the Truth … and people have been rejuvenated to demand honesty and transparency. Moreover, it’s an open-source effort as insiders and researchers happily share information with journalists for something more meaningful than money: Spartan glory.
Like Cramer’s debate with Jon Stewart, my questions and comments were met with silence. Not because Cramer is the Buddha. Because Cramer cannot dispute the facts (and I didn’t even pull out the smoking guns). There is obviously a new post in the works where a complete collection of Cramer’s nonsense will be compiled for the other side of the scale which holds “In Cramer We Trust.”
“Damien Hoffman over at Wall Street Cheat Sheet seems to have gotten into the crosshairs of none other than book (and stock) promoter extraordinaire James Cramer. Subsequent to our post on TheStreet.com potentially being in regulatory hot water, Damien penned the following post:
Jim Cramer Says Sell, Sell, Sell His Company TheStreet.com
According to transitive logic, Jim Cramer recommends selling the stock of his company The Street.com (Nasdaq: TSCM). In his books, Cramer says to dump stocks when executives depart suddenly or companies miss their filings. Therefore, once The Street “failed to produce their 10-Q filing for the second quarter” and executives started jumping ship, an honest Cramer would have been forced to “Sell, Sell, Sell.”
If you are looking for supporting evidence to dump your TSCM shares, here are a few strong data points:
4) The Street’s last go-to guru, Doug Kass, has an incredibly questionable track record for RealMoney subscribers (See “Buy the Financials. Yes, Buy” JANUARY 2008, and Doug’s schizophrenic Twitter stream of picks (e.g., April and May 2009) which contradict his jumpy calls and articles;
The fearless leader of Mad Money and the possessor of the world’s spottiest stock recommendation track record apparently took offense to Damien’s ideas, and at the cost of taking some time away from promoting his book on CNBC and elsewhere, felt compelled to respond with the following email, titled with the ironic “Some decorum and some fairness” subject line:
Subject: Some decorum and some fairness From: “James Cramer” Date: Mon, October 26, 2009 5:30 am To:
While I understand your need to be “on the map,” and I understand the “public figure” exception to the libel laws, I do think that given your backgrounds and your histories, you are taking too much license with your Jim Cramer says Sell TheStreet.com . I believe that level of lack of responsibility is beneath you. So please take it down and apologize to me so we can move on. Fair? Think about it. Think about how much better you are than that? If you really need to sell subs just sell them, don’t trash me to do it. jjcramer
Indeed, one expects Mr. Cramer should know all about levels of responsibility and how far one must stoop to end up below them. In either case, a diplomatic Damien Hoffman retorts:
Jim,
First, as you can appreciate, good content still needs to be entertaining. No one knows that better than you.
Second, this is not personal. I have bought all your books, was a huge fan of your show for years, and my brother and I were guests in your first ever live audience. We even have a picture with you.
If you are interested in sending over a retort to our cited claims, please feel free and I will post it. There is no libel in the post. The excerpt says “According to Jim Cramer’s rules …” Your rules in your book/show are to sell a stock and ask questions later when execs and board members start bailing. The same for companies which delay their filings. Therefore, according to what you have taught us, this is the action we must take. Are you saying TSCM is an exception? If so, why?
Lastly, I think the biggest disappointment as a fan of yours for over 10 years was the way nothing has changed since after you went on The Daily Show and promised to us you would be more clear your show was entertainment and NOT investing advice (which would have been nice years ago). CNBC still runs “In Cramer We Trust” and other similar ads. I am sorry Jim, but many people I know (including family members) think of you as a guru based on the way CNBC presents you. They have lost a lot of money following even your “Top Pick of the Year” New York Stock Exchange and repeated “The Only Stock to Own” SHLD. I know others who lost money following Dykstra as his subscriber. It was your responsibility to prevent a conman from working at TheStreet with your full endorsement. And the psychics on The Street, well, I think that speaks volumes about whether you are running a financial media company or something completely different. Consequently, I don’t think censoring the truth is a respectable option regarding our post.
Further, if you look at the sales page for Kass’s newsletter, you have conveniently left out his HORRIBLE Jan 2008 “Buy the Financials” call and MANY of his other bad calls. If we are nitpicking what is “beneath” us, I’d put that at the top of the list before throwing stones at me. The same for claiming Ron Insana’s track record was associated with his newsletter performance BEFORE it even launched. We are both trained as lawyers and know there is a way to present anything, but it can still be a lie.
I am calling it as I see it. If you feel otherwise, I will print your opinion. I am not an asshole. I am part of a movement of people who are trying to put truth back into financial media.
FYI: None of our posts in The Scoop sell subs. That’s not our core business model.
Regards,
Damien
Editor-in-Chief Wall St. Cheat Sheet
We look forward to getting more clarity on not only TheStreet.com sorely missed 10-Q, but on the potential escalation of how far Mr. Cramer is willing to go to address perceived “lack of responsibility.” We are fairly confident that many of Jim Cramer’s “fans” would be willing to hold Mr. Cramer to the exact same degree of responsible conduct that the latter suddenly seems to deem appropriate. Maybe Mr. Hoffman should just stick to presenting Buy stock recommendations for major Wall Street firms, especially ahead of 90%+ price drops in their respective stocks.”
Goldman Sachs is looking for a way to slim down its tax bill, and it's considering buying unused tax credits from Fannie Mae. But it doesn't want to pay full price, so taxpayers would make up the difference. Steve Henn reports. Source: Marketplace | 2 Nov 2009 | 1:32 pm
Moves by three central banks will set wider trends in investment at a time when rallies in risky assets could be running out of steam Source: Financial Times - US homepage | 2 Nov 2009 | 1:09 pm
Eliot Spitzer recently had lunch with a reporter from the Financial Times to discuss, among things, his writing gig with Slate, how he rarely eats pasta for lunch, and why he's gone soft on Hank Greenberg ("maybe it's maturity or distance from the case"). Towards the end of the meal, the topic turns to paying someone to do stuff for you, and the noted hooker-fucker had this to say:
At one point we are comparing notes on skiing, and I make a pitch for how nice it was to have a catered chalet with what I refer to as a "houseboy or housegirl" to cook all the meals.
"Housegirls I can't do," he says bluntly.
He doesn't elaborate on that point, and because he was being vague, forces us to interpret what he actually meant. Was Spitzer saying:
* That he prefers to have his meals prepared by a man?
* That when he was made to promise he'd never fuck a hooker again, he had to throw in the help, too?
* ED
* He was just making a joke, a little reference to that sitch he got himself into in li'l while back with the prostie. He wasn't being serious-- of course he "does" housegirls.
AP - A look at economic developments and activity in major stock markets around the world Monday: Source: Yahoo! News: Stock Markets News | 2 Nov 2009 | 1:01 pm
Despite a $2 billion bailout from Washington last year, CIT Group has succumbed to Chapter 11 bankruptcy. Mitchell Hartman reports. Source: Marketplace | 2 Nov 2009 | 12:43 pm
Under the current health care bills in Congress, people not insured through an employer could shop for coverage in health insurance exchanges. Joel Rose explains how the exchanges would work in our latest installment of "The Cure." Source: Marketplace | 2 Nov 2009 | 12:40 pm
Ford Motor Co. says it earned almost a billion dollars in the third quarter -- a big profit considering it lost more than $150 million this time last year. Alisa Roth reports on how the company did it. Source: Marketplace | 2 Nov 2009 | 12:38 pm
The company that bought the rights to the "Terminator" film franchise just two years ago is bankrupt. So it's auctioning off those rights. Is anyone still interested? Stacey Vanek-Smith reports. Source: Marketplace | 2 Nov 2009 | 12:30 pm
Many people are furious over the rich pay packages enjoyed by corporate executives. But some are also upset that the government has capped pay for some of them. Commentator Susan Lee says the pay czar is doing what shareholders should be able to do. Source: Marketplace | 2 Nov 2009 | 12:25 pm
Signs of recovery after a torrid year reverberated around the world as manufacturers reported rising output and improved employment prospects in the US, Europe and Asia Source: Financial Times - US homepage | 2 Nov 2009 | 12:19 pm
Since the SEC called Ponzi scheme on Allen Stanford's ass, things have no been going so well for the Houston-based "billionaire." He was "deprived" of being listed as the 405th wealthiest person in the world by Forbes, which caused many tearful nights. He was forced to fly commercial for the first time, in almost two decades, which was harrowing. He got the shit kicked out of him in a prisonyard brawl, which was humiliating. And he coughed up blood in the middle of a courtroom, in a failed attempt to get an upgrade in his accomodations behind bars. Through it all though, there was one thing he could cling to, one thing that kept him warm at night. One thing that staved off the demons. And that was the knowledge that despite being an accused criminal who wasn't recognized by Forbes for his (likely) illegal-obtained riches, he was in good company with guys like Elton John. Now, he doesn't even have that.
It's no longer "Sir" Allen Stanford. The panel that approves candidates for knighthood in the Caribbean nation of Antigua and Barbuda has voted to rescind the honor granted to Texas financier R. Allen Stanford in 2006.
You can trade anywhere these days. So why not demand a bribe?
Fresh from their success sinking the CMDX, the CDS clearinghouse founded by the Chicago Mercantile Exchange and Citadel Investment Group, the Wall Street oligarchs are now insisting upon tribute from the New York Stock Exchange.
The Big Board is selling a "significant stake" in its U.S. futures exchange, NYSE Liffe U.S., hoping to drum up business after seeing its revenue and profit plummet in the third quarter. It's worked before: NYSE Euronext sold off a stake of its NYSE Amex Options platform last year, quickly boosting its market share. And while Citadel and the CME tried--and failed--to go it alone, the Intercontinental Exchange built a dominant CDS clearinghouse with the backing of nine banks.
The following post is by a hedge fund manager friend of DB who shall remain nameless. He runs the emerging markets desk at his firm.
Brazil has been one of the most confidence-inspiring credit stories in Emerging Markets. At the end of September, Moody's awarded the country an investment grade rating. But while most of the market showers praise on the tightest-of-the-Latin-majors credit spreads, the 6 Bs of ratings, and dollar-crushing currency, a certain class of creditors is shouting about an imminent default. Their shouts are going largely unheeded, and they are learning a hard lesson about sovereign lending to Emerging Markets. In EM, there is no solidarity among creditors.
The controversy relates to a class of debts called precatorios. These are instruments representing judicial claims against government entities - the federal government, states, and municipalities. While this might sound like a small and obscure corner of government finance, litigating against the government has become something of a Brazilian national pastime. Hopeful plaintiffs don't lack for grounds of complaint. The inflation stabilization plans of the 1980s imposed very complicated monetary correction formulae on all manner of wages, pensions, and prices, sparking disputes that continue to this day. Price controls on ethanol, also from that happy decade, have likewise spawned generation-spanning suits. At the same time, Brazilian jurisprudence has an incredibly expansive notion of direitos adquiridos - "acquired rights" - that cannot be messed with. Think of it as the insanely broad conception of fault that you find in American malpractice law, applied to the field of takings. Any meaningful reform creates losers; in Brazil they are only losers (from a new law or policy) as long as it takes to sue the government, at which point they become winners (of a lawsuit). In fact, government legal losses have consistently enough generated large liabilities for the government that most analysts' fiscal projections still include a line for "skeletons" - the term of art for old claims that get adjudicated against the government.
Seeking Alpha’s Eli Hoffman puts yesterday’s CIT bankruptcy filing–the fifth largest in US history–in context:
CIT Group (CIT) filed for bankruptcy protection Sunday with broad support from its debtholders, but taxpayers will lose the $2.3B invested in CIT, marking the first definitive loss in the government’s rescue of the financial system.
Nearly 90% of CIT’s bondholders voted in favor of the prepackaged bankruptcy, which CIT says will enable it to reduce total debt by $10B, significantly reduce its liquidity needs over the next three years, enhance its capital ratios and accelerate its return to profitability. Bondholders will receive about $0.70 on the dollar, a number that could have fallen as low as $0.06 had CIT entered a freefall bankruptcy. With $71B in assets and $65B in liabilities, CIT’s bankruptcy ranks among the largest in corporate history.
CIT, which is not related to Citigroup, is a commercial and consumer finance company that received $2.3 billion from the TARP program. Now the CIT is filing for bankruptcy, common and preferred stock will get wiped out. However, bondholders will get a return of $0.70 on the dollar. In other words, taxpayers foot the bill.
Spend Matters analyzes what CIT’s bankruptcy means for the retail supply chain:
Kurt Cavano, Chairman and CEO of TradeCard and an expert in the area of global retail trade, stated this morning that CIT provided financing lifeblood for an important portion of the retail supply chain. While many exporters and importers — not to mention actual retailers, who are not always direct importers — pay a reasonable APR if their credit rating is strong (e.g., LIBOR + 200 basis points), Kurt suggests, for companies with less than perfect credit, trade financing costs can easily reach a 10-12% APR. I’ve personally seen actual APRs hit over 20% based on some research I’ve done in the apparel supply chain in the case of global suppliers who accepted early payment discounts.
According to Kurt, “CIT made a great living working the edge of the bad credit companies with high rates and keeping the risk down. This worked well until everything cracked. Then the 8-10% they were charging was not enough when defaults rocketed. Combine this with the fact that the management team was levering up the returns by investing in exotic instruments on Wall Street (e.g., CDOs) and it created a perfect storm.” However, it was not always this way. Kurt notes that, “CIT had always done a great job of profiting and working with those firms on the edge of bad credit.” But going forward, the question remains whether this group will be able to find the liquidity they need to run their businesses if CIT does not come back out with the same type of credit capacity. This is critical because as Kurt suggests, “a huge portion of the retail sector runs on very thin margins” and “use the credit of companies like CIT to run their businesses”.
The Atlantic Wire has a nice summation of who wins and loses as a result of the CIT bankruptcy. Losers, as mentioned above, include retailers and the US taxpayer. Winners: Carl Icahn, CIT itself, and (surprise!) Goldman Sachs.
Asheville, NY-based Fairbank Farms is recalling nearly 546,000 pounds of ground beef because of a suspected E. coli contamination. The recall affects Massachusetts, Maryland, North Carolina, New York, New Jersey, Connecticut, Virginia, and Pennsylvania. The following supermarkets sold the beef, which may have had sell-by dates between September 19-28, according to the Associated Press:
Good Morning America has more:
One person died and at least two people were sickened after eating ground beef in New Hampshire that was possibly contaminated with E. coli bacteria.
To identify recalled products, consumers should check the package label and look for the product name, package weight and sell-by date. All labels will show an establishment number of “EST 492″ inside the U.S. Department of Agriculture mark of inspection.
Ron Allen, CEO of Fairbank Farms, said in a statement on its Web site: “We’re assisting our customers in conducting this recall, and continue to urge consumers to check their freezers for ground beef products that are listed in the recall. Consumers who identify these products should return them to the point of purchase for a full refund.”
The ultimate precaution: Just throw away any ground beef in your freezer.
AFP - Wall Street revved higher in morning trade Monday after a surprise profit reported by Ford Motor Co. and a strong factory sector report helped the market rebound from last week's drubbing.
Hey everybody: I'm glad to be back at Planet Money and spending the next few months with you. Here's some things that caught our eye today other than the fun Halloween pics circling the office:
Wall Street started the week off in a buoyant mood, after a variety of key economic data came in better than expected this morning. The brightest news came from the Institute for Supply Management, which tracks nationwide factory sentiment. Its closely watched manufacturing index was 55.7 for October. That was up from 52.6 in September and was the best reading since April 2006. Readings above 50 indicate an expansion in industrial activity.
Construction spending for September also rose, up 8%, its biggest gain in a year, while pending home sales for September were up 6.1% as the home buyers tax credit boosted activity.
Meanwhile, Ford surprised everybody -- and probably itself -- by reporting profit of nearly $1 billion in the third quarter North American business this morning and said it would be "solidly profitable" in 2011. The only Detroit automaker to dodge bankruptcy court said positive cash flow of $1.3 billion contrasted with a $7.7 million cash burn a year earlier.
Last but not least, Clorox Co. showed today why not everyone is afraid of a little swine flu: the bleach maker reported net income in the last quarter rose 23% from a year ago, aided by sales of disinfectant wipes to combat the worldwide H1N1 flu virus and lower costs.
Alex called me over to his desk this morning, pointed to an economic paper he'd pulled up on the computer and asked, "Can you translate this?"
"Abstract: We consider economies and diseconomies of scope for large U.S. banks by employing ordinary and hybrid translog cost functions. We examine the regularity conditions in output space where scope estimates are calculated and reject all models for which these conditions fail. The translog model always possesses violations. For the hybrid translog, violations occur in every case except one. In this one case, we find economies of scope."
I can't. Can you? Post your answers in the comment section. We'll put the winner on an upcoming podcast.
Fedor Emelianenko has been called the baddest man on the planet. We think a case can be made that he is the most fit man to have ever lived in the history of our species. Undefeated for nearly a decade, this MMA (mixed martial arts) hero’s explosive ring style leaves opponents and spectators stunned.
On November 7, Fedor fights American Brett Rogers in Chicago. Rogers has remained undefeated for two years—but will his aggressive fight stand up to Fedor’s thunderous punches and uncanny ability to power out of submission attempts?
Fedor is one of this decade’s most skilled athletes. When you investigate him more closely, it becomes clear that he has set himself up for success. Discipline, a simple routine, the right support network, and calm before the fight are some of the secret ingredients to Fedor’s unparalleled success. Business can learn from his style. Here are ten business lessons that Fedor can impart:
1. Stay calm
Fedor stays calm and stoic before a match, to the point of looking bored. Unlike some of his opponents, he doesn’t get himself pumped up or trash talk before a fight. Instead, he has been known to play cards with his friends. When Fedor enters the ring, he does so with respect. He saves all his energy for the fight.
During Fedor’s fights, that focus pays off. Nobody has proven a match for his explosive speed and power in almost a decade. Moreover, Fedor’s calm demeanor adds to his mystique. It disarms many opponents, giving him an instant advantage. They just can’t read him. It makes them nervous–which is something Fedor benefits from.
2. Focus on the fundamentals
Fedor appears nonchalant and stoic–until he throws a punch. He wastes no energy on appearances. He doesn’t express emotion during fights. By not distributing his energy elsewhere, he is able to focus completely on a fight. And by focusing completely, he is able to use more energy in the fight. And win.
3. Be prepared & disciplined
Fedor knows that a fighter is as good as the work he puts in. He keeps a regular, intense training schedule. He runs five miles in the morning, then wrestles, practices boxing, grappling and sparring, and strengthens by doing pull-ups, crunches, and dips.
He doesn’t take days off. He does everything from start to finish—and devotes himself completely. That takes an incredible amount of discipline and endurance.
This preparation and discipline pays off in the ring, where his focus doesn’t waver.
4. Avoid complacency
When Fedor started fighting, he said that he always felt he could do great. His coach said that he always had raw talent, and learned new things quickly. Fedor was promising from the very beginning.
As he ascended through the MMA ranks, Fedor easily could have grown complacent, relishing his position on the top. But he didn’t. He doesn’t see himself as the best, but as someone who is always growing. He is always getting better. And that attitude keeps him on top.
5. Keep it simple
Fedor adheres to a steady, normal routine. It’s the same basic routine, week in and week out. And it works.
Moreover, he trains virtually in secrecy. His seclusion keeps him from being distracted by fans, fads, and other potential weakeners of the will. Moreover, his seclusion adds to his mystique. He always keeps everyone guessing—in part by staying guarded about his own routine.
His consistency also pays off in the ring, where he remains undefeated.
6. Stay steady in a storm
Fedor stays relaxed and flexible, even in the ring. During his PRIDE fight with Kevin Randleman in 2004, Randleman suplexed Fedor, potentially injuring him. Fedor, however, was so relaxed and flexible that he recovered quickly—and ended up winning the match. He generally looks and acts calm, even in the heat of a fight.
7. Respect everyone
When Fedor fights, he explodes on his opponents. Any opponent has good reason to be scared of him before entering the ring. Yet Fedor is always respectful of his opponents. When he enters a fight, he wishes respect. He doesn’t glare or talk or move around. He’s inert and polite—until he starts hitting.
8. Have the right team
Fedor surrounds himself people he knows well and respects. He trains with longtime grappling, boxing, and Muay Thai coaches. His doctor Oleg Neustroev is also his masseur and psychologist. He is close to his training partners. He also remains close to his friends, who have known him for a long time, and family. He and his priest are also close. His good relationship with his team gives him a tight-knit, steady support network.
9. Be a leader
Fedor’s stellar fighting has inspired millions of fans. But he doesn’t let fame fluff up his ego. Instead, Fedor uses popularity to help others succeed. He enjoys trying to be useful to people. He takes on the role of a mentor instead of a superstar. He teaches classes. Before the Beijing Olympics, he carried the torch for Russia in St. Petersburg. He is exemplary rather than haughty, which proves his strength of character.
10. Live in the present
Fedor knows life can’t be scripted. That’s one reason he stays so relaxed in the ring. He remains present during the fight, allowing him to adapt his moves as the fight unfolds. Staying aware also helps him study his opponent in real-time and react efficiently to situations within the fight. His discipline helps him prepare, his focus concentrates his energy, and his present-moment awareness leaves him prepared for any move.
AP - Wall Street giant Goldman Sachs Group Inc. is reportedly in talks to buy tax credits from Fannie Mae, a government-controlled mortgage financier. Source: Yahoo! News: Business | 2 Nov 2009 | 7:24 am
Reuters - Shares of Ford Motor Co rose 5 percent to $7.35 in premarket trading on Monday, after the company reported its quarterly results. Source: Yahoo! News: Stock Markets News | 2 Nov 2009 | 5:09 am
