You may wonder why should you know your car insurance companies. One very good reason is that in the event of an accident you would be less likely to accept a false proof of insurance. How's that possible?
A few months ago my car was hit while I was sitting at a stop sign waiting to turn left. The other driver coming from my right cut the corner before realizing there was a car there. Needless to say it was a head-on collision, but thankfully she was slowing to turn.When the time came to exchange insurance information, she handed me a letter on official letterhead that gave a policy number for auto insurance. The letterhead said "DriveTime". I'd heard about DriveTime as being a place where one could easily get an auto loan. I never questioned the validity of the "proof" of insurance I was given.
I found out later, when I tried to file a claim for repairs with the other insurance company, that DriveTime insurance ONLY covers their car. It is a comprehensive coverage that protects DriveTime against any loss. However, it is up to the car buyer to obtain liability coverage from another source.
So before you get stuck with a "proof of insurance" that is no proof at all, glance at the list below just to get an idea of those real full-coverage auto insurance companies. These are American insurance companies with a strong regional and national presence.
* American National Insurance Company
* American Automobile Association
* AIG
* Allstate
* American Family Insurance
* American Farmers and Ranchers Mutual
* Amica
* Auto-Owners Insurance
* California Casualty Insurance
* CapitalOne
* Commerce Insurance Group
* COUNTRY Insurance & Financial Services
* Cuna Mutual Group
* Electric Insurance Company
* Esurance
* Expatriate Insurance
* Farm Bureau Insurance
* Farmers Insurance
* Frankenmuth Mutual Insurance Company
* GAINSCO Auto Insurance
* GMAC Insurance
* Geico
* The General
* GuideOne
* Hanover Insurance
* The Hartford
* Hastings Mutual Insurance Company
* Haulers Insurance Company
* Infinity Auto Insurance Company
* Liberty Mutual
* Nationwide Insurance
* National Interstate
* Metropolitan Life Insurance Company
* Mutual of Enumclaw
* OneBeacon Insurance Group
* Pekin Insurance
* Pemco
* Progressive
* Safeco
* Safeway Insurance Group
* Standard Insurance Company
* State Auto Insurance Companies
* Shelter Insurance Companies
* Solid Insurance Group
* State Farm Mutual Automobile Insurance Company
* The St. Paul Travelers Companies, Inc.
* Trustgard Insurance
* Unitrin Direct Auto Insurance
* USAA
* Wawanesa
* Westfield Insurance
Of course, there are a lot more insurance companies that this, but this is a list of the most common. So if someone gives you a proof of insurance that doesn't sound like a company name that you are familiar with, make sure you get all of the contact information, including their driver's license number…just in case.
10/31/2008
How can you make your presence felt upon the web through search engine Optimization.
Competition is so tight among business tied to the web nowadays. Your website serves as your product display area, and the more surfers land in your webpage, the more potential customers you will have. Your website has to be designed such that it stands out prominently. But one thing more, it has to land among the top ten when a surfer uses a search engine to find a product or service along your niche. One strikingly effective way to achieve this is to avail the services of a Search Engine Optimization expert.
Business efforts and initiatives would start taking shape, once the website and its optimization is in place. With the world becoming a smaller place and with the outbreak of viral and buzz marketing, no one can afford to relax out there in the chair. Activities of a business organization in the market arena and its visibility in the trade space can only make it a frontrunner.
Need & Benefits of Search Optimization With SEO Services available right at the click of the mouse, improper ranking of website would no more be a problem. Many individuals and businesses not aware of the same might be wondering about what is wrong with the website and why is the website not able to attract traffic. The problem might lie in the other end. The root cause may well be poor ranking in the search engines and there could be several reasons for this. What needs to be done is a thorough look at the reasons of lower rankings and addressing the issues in a stepwise manner to make it capable of better ranking. It is also best to follow an approach preferred by search engines.
The problems faced with poor ranking structure on web search engines: Poorly designed website Web content not matching the design and idea Unutilized page contents Poor Web linking structure and inability to carry the search forward to other sites Plagiarism issues and duplication of content
The positive, down-to-earth approach of SEO services in dealing with the problem of low ranking and traffic is critical to the success of your promotional campaigns. Filling the gap between what is available and what should be attained is best motivation to request their services, and these will go a long way in building the success of the business. These SEO service providers must address all stages in the development of your business
Redesigning of the web page and its content to enable visitors to carry on a more useful and well linked search,
Facilitating easy click and follow approach, Ensuring that an optimized site page is submitted to top search engines like AOL, Yahoo, Google, AltaVista, etc.; and
Taking a holistic move towards optimizing the website brings in tangible benefits to the business in the long run. Benefits that can accrue by making a correct move towards utilizing SEO experts are:
Obtaining a top ten ranking on the search engines
Improved visibility and reputation,
Improved surge of traffic towards the webpage,
Improved profitability for the business and
Sustained and steady growth of the business and the capability to face any fluctuations - positive or negative - of the business cycle.
Thus, by paying a nominal fee to SEO experts and following their suggestion, it is easy to attain the effectiveness sought to lay a hand on that final goal of increase in targeted traffic and revenues. Relevant traffic drawn towards the website will eventually and ultimately pay off. SEO services provide a platform of huge magnitude to attract and catch innumerable customer leads. In taking seriously the significance of Search Engine Optimization — an activity that ranks second to the more popular online activity called e-mail — one can take his or her business to unimaginable heights.
Business efforts and initiatives would start taking shape, once the website and its optimization is in place. With the world becoming a smaller place and with the outbreak of viral and buzz marketing, no one can afford to relax out there in the chair. Activities of a business organization in the market arena and its visibility in the trade space can only make it a frontrunner.
Need & Benefits of Search Optimization With SEO Services available right at the click of the mouse, improper ranking of website would no more be a problem. Many individuals and businesses not aware of the same might be wondering about what is wrong with the website and why is the website not able to attract traffic. The problem might lie in the other end. The root cause may well be poor ranking in the search engines and there could be several reasons for this. What needs to be done is a thorough look at the reasons of lower rankings and addressing the issues in a stepwise manner to make it capable of better ranking. It is also best to follow an approach preferred by search engines.
The problems faced with poor ranking structure on web search engines: Poorly designed website Web content not matching the design and idea Unutilized page contents Poor Web linking structure and inability to carry the search forward to other sites Plagiarism issues and duplication of content
The positive, down-to-earth approach of SEO services in dealing with the problem of low ranking and traffic is critical to the success of your promotional campaigns. Filling the gap between what is available and what should be attained is best motivation to request their services, and these will go a long way in building the success of the business. These SEO service providers must address all stages in the development of your business
Redesigning of the web page and its content to enable visitors to carry on a more useful and well linked search,
Facilitating easy click and follow approach, Ensuring that an optimized site page is submitted to top search engines like AOL, Yahoo, Google, AltaVista, etc.; and
Taking a holistic move towards optimizing the website brings in tangible benefits to the business in the long run. Benefits that can accrue by making a correct move towards utilizing SEO experts are:
Obtaining a top ten ranking on the search engines
Improved visibility and reputation,
Improved surge of traffic towards the webpage,
Improved profitability for the business and
Sustained and steady growth of the business and the capability to face any fluctuations - positive or negative - of the business cycle.
Thus, by paying a nominal fee to SEO experts and following their suggestion, it is easy to attain the effectiveness sought to lay a hand on that final goal of increase in targeted traffic and revenues. Relevant traffic drawn towards the website will eventually and ultimately pay off. SEO services provide a platform of huge magnitude to attract and catch innumerable customer leads. In taking seriously the significance of Search Engine Optimization — an activity that ranks second to the more popular online activity called e-mail — one can take his or her business to unimaginable heights.
10/26/2008
An online driver for GM
The advertisements extolling General Motors’ Chevy Volt electric car on the Planet Green “eco-lifestyle” TV network are a far cry from the fast-paced, 30-second spot normally associated with vehicle pitches.
For a start, they run for two minutes. One sets a gentle, erudite tone with soft piano music and shots of a pianist tickling the ivories. He turns out to be Frank Weber, the Volt’s project director, playing one of his own compositions. At the end of the spot, viewers are invited to “join the conversation” – not at a GM website, but at planetgreen.com.
Such ads, which GM prefers to describe as “short-form videos”, highlight a tectonic shift in the way the struggling carmaker is trying to revive its image among present and future car buyers.
GM’s objective is to “engage in a conversation”, says Betsy Lazar, executive director for advertising and media operations. “The idea is: how do you get from a 30-second opportunity to a deeper engagement?”
The strategy is driven by two emerging realities – one harsh, the other offering boundless opportunities.
GM’s financial troubles – it has racked up losses of $67bn (€52bn, £41bn) since 2005 – are forcing it to slash costs in almost every part of its business. TNS Media Intelligence, which tracks how much companies spend on advertising, estimates that GM has cut its advertising budget by almost $1bn over the past three years.
The company spent $2.1bn last year, making it the US’s fourth-biggest advertiser. Ms Lazar declines to confirm the accuracy of TNS data beyond saying that it greatly underestimates digital media spending.
The new opportunities come from the internet, which has enabled carmakers to target prospective buyers more effectively and at lower cost than through traditional media.
GM estimates that the average prime-time TV network show now delivers only about 3 per cent of its target audience. Cable-channel audiences are even smaller. What is more, many TV viewers skip ads or are distracted by other tasks – not least, surfing the internet.
For the first time in many years, GM has decided not to screen ads on three of TV’s biggest crowd-pullers – the award ceremonies for the Oscars and the Emmys, and the National Football League’s Super Bowl.
“It’s very hard to justify the cost of something like the Academy Awards because the world has changed and we’ve got better insights of how to connect with consumers,” Ms Lazar says. “The more targeted we can get in our efforts, the more effective we’re going to be.”
Enter the internet. GM estimates that more than two-thirds of US car buyers now do part of their research on the web. And these people are younger than the average TV audience, which is a key point as the Detroit carmaker works to improve the image of its brands. Youngsters still not old enough to drive – and unaware of GM’s past mistakes – have become a key target.
According to Ms Lazar, ads placed on any weekday on the homepages of MSN, AOL and Yahoo, the three biggest portals, have a broader reach combined than a Super Bowl TV spot.
Homepages featuring an ad for the Chevrolet Malibu sedan registered 960m hits during a one-day blitz a year ago marking the car’s launch. Some 3.7m internet users not only saw the ad but “engaged” with it by clicking on it, thus accessing more detailed shots of the car and motoring writers’ reviews.
The cost of online ads “is very, very efficient relative to television”, Ms Lazar says. She declines to provide details, but notes that by adding pages and content, websites can expand supply in ways that TV cannot, thus damping bids for space and containing rates.
The internet also offers the ability to track prospective buyers in ways that are not possible with TV and newspapers.
“In the old days, unless it was an old customer coming back, we had no idea when they were in the market,” Ms Lazar says. “Now when they type in Chevrolet, car, crossover, fuel-efficient vehicles or Toyota, we can engage in a conversation.”
Television, newspapers and event marketing have increasingly become a means to drive prospective buyers to the internet. GM’s new Cadillac CTS sedan featured prominently in Damages, a murder-mystery series that aired in the US last year. Viewers could take part in a competition to solve the mystery and win a CTS, but they had to sign up on the Cadillac website.
On the newspaper side, GM sponsors an advertorial supplement in the Sunday edition of the Los Angeles Times, whose readers have deserted Detroit in droves for Toyota, Honda and other Asian carmakers. Vehicle and dealer websites are displayed prominently, often in bold type or colour.
The carmaker gauges the success of its online ad campaigns using software known as a “digital dashboard” that enables it to monitor usage on a real-time basis. The tool, developed by Digitas and Starcom Mediavest, both part of the Publicis advertising group, measures how far users “drill down” into GM websites and those of about 30 portals and online vehicle-pricing services that carry information on GM vehicles.
“A very proactive headline can get someone to click on an ad,” Ms Lazar notes. “But what really matters is whether they are engaged.”
For a start, they run for two minutes. One sets a gentle, erudite tone with soft piano music and shots of a pianist tickling the ivories. He turns out to be Frank Weber, the Volt’s project director, playing one of his own compositions. At the end of the spot, viewers are invited to “join the conversation” – not at a GM website, but at planetgreen.com.
Such ads, which GM prefers to describe as “short-form videos”, highlight a tectonic shift in the way the struggling carmaker is trying to revive its image among present and future car buyers.
GM’s objective is to “engage in a conversation”, says Betsy Lazar, executive director for advertising and media operations. “The idea is: how do you get from a 30-second opportunity to a deeper engagement?”
The strategy is driven by two emerging realities – one harsh, the other offering boundless opportunities.
GM’s financial troubles – it has racked up losses of $67bn (€52bn, £41bn) since 2005 – are forcing it to slash costs in almost every part of its business. TNS Media Intelligence, which tracks how much companies spend on advertising, estimates that GM has cut its advertising budget by almost $1bn over the past three years.
The company spent $2.1bn last year, making it the US’s fourth-biggest advertiser. Ms Lazar declines to confirm the accuracy of TNS data beyond saying that it greatly underestimates digital media spending.
The new opportunities come from the internet, which has enabled carmakers to target prospective buyers more effectively and at lower cost than through traditional media.
GM estimates that the average prime-time TV network show now delivers only about 3 per cent of its target audience. Cable-channel audiences are even smaller. What is more, many TV viewers skip ads or are distracted by other tasks – not least, surfing the internet.
For the first time in many years, GM has decided not to screen ads on three of TV’s biggest crowd-pullers – the award ceremonies for the Oscars and the Emmys, and the National Football League’s Super Bowl.
“It’s very hard to justify the cost of something like the Academy Awards because the world has changed and we’ve got better insights of how to connect with consumers,” Ms Lazar says. “The more targeted we can get in our efforts, the more effective we’re going to be.”
Enter the internet. GM estimates that more than two-thirds of US car buyers now do part of their research on the web. And these people are younger than the average TV audience, which is a key point as the Detroit carmaker works to improve the image of its brands. Youngsters still not old enough to drive – and unaware of GM’s past mistakes – have become a key target.
According to Ms Lazar, ads placed on any weekday on the homepages of MSN, AOL and Yahoo, the three biggest portals, have a broader reach combined than a Super Bowl TV spot.
Homepages featuring an ad for the Chevrolet Malibu sedan registered 960m hits during a one-day blitz a year ago marking the car’s launch. Some 3.7m internet users not only saw the ad but “engaged” with it by clicking on it, thus accessing more detailed shots of the car and motoring writers’ reviews.
The cost of online ads “is very, very efficient relative to television”, Ms Lazar says. She declines to provide details, but notes that by adding pages and content, websites can expand supply in ways that TV cannot, thus damping bids for space and containing rates.
The internet also offers the ability to track prospective buyers in ways that are not possible with TV and newspapers.
“In the old days, unless it was an old customer coming back, we had no idea when they were in the market,” Ms Lazar says. “Now when they type in Chevrolet, car, crossover, fuel-efficient vehicles or Toyota, we can engage in a conversation.”
Television, newspapers and event marketing have increasingly become a means to drive prospective buyers to the internet. GM’s new Cadillac CTS sedan featured prominently in Damages, a murder-mystery series that aired in the US last year. Viewers could take part in a competition to solve the mystery and win a CTS, but they had to sign up on the Cadillac website.
On the newspaper side, GM sponsors an advertorial supplement in the Sunday edition of the Los Angeles Times, whose readers have deserted Detroit in droves for Toyota, Honda and other Asian carmakers. Vehicle and dealer websites are displayed prominently, often in bold type or colour.
The carmaker gauges the success of its online ad campaigns using software known as a “digital dashboard” that enables it to monitor usage on a real-time basis. The tool, developed by Digitas and Starcom Mediavest, both part of the Publicis advertising group, measures how far users “drill down” into GM websites and those of about 30 portals and online vehicle-pricing services that carry information on GM vehicles.
“A very proactive headline can get someone to click on an ad,” Ms Lazar notes. “But what really matters is whether they are engaged.”
Rishikesh Trip
Rishikesh, I have been to this small town on the foothills of garhwal himalayas several over the past 4 years and every time i discover a lot more about this magical place and a little bit about me.
A trip to rishikesh has something for everyone. It is known as the YOGA capital of INDIA, the town is full of ashrams which house many yoga gurus of the country. As the evening approaches the air is filled with spirituality and chants of shlokas.
A trip to rishikesh has something for everyone. It is known as the YOGA capital of INDIA, the town is full of ashrams which house many yoga gurus of the country. As the evening approaches the air is filled with spirituality and chants of shlokas.
10/25/2008
Bike loans; easy finances to get your dream bike without hassle by Martin Andrews
There is something about bikes which cannot be described nor can it be defined by words alone. Walk in to any bike showroom and you will be amazed to find different bikes with al together different models, specified to suit the needs of all. The durability along with the freedom that comes while riding a bike is what makes them popular. But owning a bike is not a piece of cake walk, as the prices are too steep and can be expensive. Even then, no one can stop you from laying your hands on your dream bike. The financial market has specially designed financial schemes to help you out and for the same; you can consider availing bike loans.
Usually, these loans are categorized in to secured and unsecured form, so that you can obtain the funds as per your need and requirement. Secured form of the loans are backed against an asset and in the case of these loans, you can pledge the bike you want to purchase as collateral. The amount offered is quite large and due to the presence of collateral, interest charged on the loans too are comparatively low.
On the contrary, unsecured form of the loans can be derived without the need of attaching any collateral. The collateral free condition of the loans is beneficial for borrowers such as tenants and non homeowners, who do not own any asset. Under the provision of the loans, a limited amount is made available for a short term period.
Applicants with multiple credit problems such as CCJs, IVA, arrears, defaults etc too can source the loans. However, the approval of the loans will depend a lot on their income and repaying capability. Interest rate charged too will be slightly higher.
Prior to that of availing the loans, you have to make a certain payment to the lender as down payment. In case, if you are paying a huge amount as down payment, the loan will be sanctioned immediately and that too at comparatively low rates.
Bike loans are available with lenders based in the traditional market as well as online market. However, you should lay more emphasis on applying for the loans using the online mode. It is here that you will be able to get the loans instantly and that to with lucrative terms and condition
Usually, these loans are categorized in to secured and unsecured form, so that you can obtain the funds as per your need and requirement. Secured form of the loans are backed against an asset and in the case of these loans, you can pledge the bike you want to purchase as collateral. The amount offered is quite large and due to the presence of collateral, interest charged on the loans too are comparatively low.
On the contrary, unsecured form of the loans can be derived without the need of attaching any collateral. The collateral free condition of the loans is beneficial for borrowers such as tenants and non homeowners, who do not own any asset. Under the provision of the loans, a limited amount is made available for a short term period.
Applicants with multiple credit problems such as CCJs, IVA, arrears, defaults etc too can source the loans. However, the approval of the loans will depend a lot on their income and repaying capability. Interest rate charged too will be slightly higher.
Prior to that of availing the loans, you have to make a certain payment to the lender as down payment. In case, if you are paying a huge amount as down payment, the loan will be sanctioned immediately and that too at comparatively low rates.
Bike loans are available with lenders based in the traditional market as well as online market. However, you should lay more emphasis on applying for the loans using the online mode. It is here that you will be able to get the loans instantly and that to with lucrative terms and condition
10/22/2008
Stuff I've Read Today
WSJ: Obama increases lead over McCain. WSJ on the messy state of the real estate market in California. WSJ: now the problem with credit cards. WSJ: economist Rubin argues that Obama is dangerous to economic freedom (Caplan hopes he isn't). WSJ: China's economic pain is worse than most expected (not to my surprise). WSJ on high school dropout city champions. WSJ on why performance reviews stink (and I concur). WSJ: "Bernanke endorses Obama" by supporting his fiscal stimulus plan. The Chronicle of Higher Education on college dropouts (HT Selva Brasilis). Mankiw: fewer and fewer people are paying income tax. Tabarrok and Levitt on Heckman's bizarre behavior. Caplan on messianism. Selgin on "Planet of the Apes" and the bailout (HT Boudreaux). Perry: dollar keeps climbing. Sorman on IMF's Strauss Kahn scandal (in French).
Is Obama the Next FDR?
I've previously said that I'll count myself lucky as long as Obama doesn't turn out to be the next FDR. Now the affable Paul Rubin's arguing that my luck won't hold: Barack Obama is one of the most liberal members of the Senate. His reaction to the financial crisis is to blame deregulation. He even leverages fear of deregulation onto other issues. For example, Sen. John McCain wants to allow consumers to buy health insurance across state lines. Mr. Obama likens this to the financial deregulation that he alleges got us into the current mess. But a President Obama would also enjoy large Democratic majorities in Congress
It’s Just A Popularity Contest
I read on PFSK that “Google has a patent pending on a technology it says will rank the most influential people on social networking sites.” According to the BusinessWeek article, which PFSK quotes: The new technology could track not just how many friends you have on Facebook but how many friends your friends have. Well-connected chums make you particularly influential. The tracking system also would follow how frequently people post things on each other’s sites. It could even rate how successful somebody is in getting friends to read a news story or watch a video clip, according to people familiar with the patent filing. Traditionally people talk about the value of your network being determined by the number of people in it, other wise known as Metcalfe’s Law. Metcalfe’s Law can be illustrated with the following statement: A single fax machine is useless, but the value of every fax machine increases with the total number of fax machines in the network, because the total number of people with whom each user may send and receive documents increases. I disagree somewhat with the statement, as I have said in the past I believe it is due an update. Research from HP Labs has shown that while it is easy to build a network, it is very difficult to maintain real relationships with people you are connected to. While many people may comment on how the value of financial stocks have plummeted in recent weeks, I think the currency of the term friend has taken a nosedive thanks to social networks over the past couple of years. Does anyone else distinguish between people they know in reality and virtual worlds through use of air quotes when referring to friends If I look at my LinkedIn or Facebook accounts, while I may be connected to a large number of people, overall my networks aren’t that valuable because of the lack of interaction between the nodes in the network. In reality the value of your network should not simply be determined by how many contacts you have, but also by the level of interaction within your network. From a marketing perspective, the most interesting aspect of the quote from the BusinessWeek article is the last sentence - it could even rate how successful somebody is in getting friends to read a news story or watch a video clip. Ultimately most marketers aspire to uncovering influencers who can shape the behaviour of their peers. I only have to flick through my iTunes account and I can point out mp3s that I have purchased based on the recommendations or YouTube videos embedded on blogs I follow. Forget the popular cheerleader and track down the quarterback whose touchdown pass leads the consumer to take action. The inevitable problem will remain though. Once you have identified the influencers, how do you in turn influence them?
The Google Number: How Influential Are You?
Google has a patent pending on a technology it says will rank the most influential people on social networking sites. Although details are sparse, it’s reported that the system would work similarly to Google’s PageRank ( the algorithm for determining which Web sites appear in a list of search results). By understanding these social patterns, it’s hoped that advertising on social networks can be made more relevant and profitable. BusinessWeek reports: The new technology could track not just how many friends you have on Facebook but how many friends your friends have.
10/16/2008
Reactions to story from cool gadgets, games, gizmos and weird science [technabob]
Ever need just a little more real estate on your computer screen? I certainly could. I spend an inordinant amount of time using programs like Photoshop and Flash, and could always use an extra place to put all those little palettes and menus. These new MIMO displays from Korea’s Nanovision let you add a tiny 7″ LCD to your PC as a secondary monitor. Each mini-widescreen monitor features a sharp 800×480 display resolution, and can be rotated into landscape or portrait modes. Just connect the MIMO display to your computer’s USB 2.0 port, install the included software, and you’ll be up and running.
A matriarchal leadership
Carmen Riu was on a flight back to her base in Majorca recently when she spied two fellow chief executives also from the Spanish island: the heads of Air Europa and Sampol. Nothing noteworthy in that – except that all three are women and the heads of family-owned companies in the otherwise male-dominated industries of tourism, air travel and construction. Mrs Riu, co-head and joint owner of Riu Hotels & Resorts for 10 years, says both María José Hidalgo at Air Europa and María del Carmen Sampol at Sampol had been chosen in spite of being the only daughters in families full of men: “The father at Sampol said to me once: ‘Hombre, it is good to see your example because I know now my daughter can do it too’.”
Female executives are rare among listed companies in Europe, a situation that will surely come up at the Women’s Forum in Deauville, France, which starts today. Peter Löscher, the CEO of Siemens who this year criticised the German conglomerate for being “too male”, says it is “a disgrace” that out of more than 190 management board members in the Dax-30 grouping of top German companies, only one is a woman – Bettina von Oesterreich, chief risk officer of Hypo Real Estate.
Even in Norway, where 40 per cent of board directors are female, there is a far lower percentage of women in the ranks of top management, according to IE Business School in Madrid. But Celia de Anca, director of IE’s centre for diversity, says the situation is different at family companies like Mrs Riu’s. “Whenever a company is family-owned there are a lot of women involved. This has tended to be the case in continental Europe, with many examples from Santander [in Spain] to France and Germany.” They range from Ana Patricia Botín, head of Banesto, a bank owned by Santander, to Liz Mohn and Johanna Quandt, members of families that control Europe’s largest media group (Bertelsmann) and the world’s largest luxury carmaker (BMW), respectively.
That bodes well for family companies in the current economic crisis as their focus on the long term pays off. Mrs Riu says: “Being a CEO owner has an advantage over non-CEO owners: it [concerns] the vision of the long term. When you are the owner and want to pass it on to your children, focusing on the long term is better than if you are concentrating only on short-term profits.”
Caroline Marston, managing director of Marston Properties in the UK, agrees: “Having a long-term focus is definitely an advantage...But most important is the understanding.” The 46-year-old mother of two adds: “When you have young children you need support and understanding. I don’t think I would have got this far if I wasn’t in a family company.”
Mrs Riu, talking in her office just off the Playa del Palma in Majorca, says there are three broad reasons why life as a female executive is easier in a family company. One is the immersion family members have had in the company from an early age: “Many companies are like ours – we talk about the company from childhood. We talked about it at lunch and dinner. It was good because my brother [co-CEO and owner] and I learnt a lot while eating.”
The second reason relates to her mother’s own example: “You see as a daughter how your mother works and looks after the family, her system of organisation.”
Last, there is increasingly a need to involve the women of a family, both as families get smaller and women in some countries such as Spain become generally more educated than men.
Berthold Leibinger, former CEO of Trumpf, Europe’s biggest machine tool maker, said continuity was important in choosing his daughter Nicola Leibinger-Kamüller, when she was appointed to succeed him three years ago: “Keeping it in the family is important because I have known my successor for 45 years. I know how she thinks and she knows how I think.”
Both Ms Marston and Mrs Riu say family companies offer a more flexible workplace for women. Ms Marston says: “If one of my children is sick I am going to drop everything and rearrange things.” Mrs Riu, with three grown-up children, adds: “It doesn’t mean I work fewer hours but, for example, when my youngest was very ill when she was young I had time for her.”
Another advantage in family companies that both Mrs Riu and Ms Marston identify is a lack of the cliques that characterise many listed companies and make it hard for women to progress. Ms Marston says: “I haven’t had any of the politics that you have in a listed company.” Mrs Riu says the selcetion of executives in family companies is fairer: “It is more objective.” But she also points out other hurdles, such as cultural problems that can hinder the progress of women in a family company just as much as elsewhere. Most of Riu’s hotel managers are women but sending them abroad is tricky, she says, either because local employees won’t accept them or because they find it hard to uproot their families.
Nevertheless, even if male-dominated networks are absent, there are always family dynamics. After she was made chief executive, Ms Leibinger-Kamüller told the Financial Times: “We’re a team. I hope I won’t have to boss them around, though my brother would always say I’m the older sister and my husband would complain I’m the one in charge.” Ms Marston was unsure what to call her older relatives in board meetings. She has made the company structure more formal, with a constitution for family members.
Most of all, what characterises these female CEO-owners is their commitment. Mrs Riu says she has trained her children to be good owners – “I don’t want them in Maseratis, with spectacular rubies” – and she highlights the closeness of her family with the business. She lives next door to her brother and his family and recalls that after the birth of her first son: “I lived very close to the offices so I could go into the office and then return home to nurse him.”
Ms Marston, too, is keen that her children experience life outside the company: “I’d rather they did something else first. Once you are in it, you are in it.”
Female executives are rare among listed companies in Europe, a situation that will surely come up at the Women’s Forum in Deauville, France, which starts today. Peter Löscher, the CEO of Siemens who this year criticised the German conglomerate for being “too male”, says it is “a disgrace” that out of more than 190 management board members in the Dax-30 grouping of top German companies, only one is a woman – Bettina von Oesterreich, chief risk officer of Hypo Real Estate.
Even in Norway, where 40 per cent of board directors are female, there is a far lower percentage of women in the ranks of top management, according to IE Business School in Madrid. But Celia de Anca, director of IE’s centre for diversity, says the situation is different at family companies like Mrs Riu’s. “Whenever a company is family-owned there are a lot of women involved. This has tended to be the case in continental Europe, with many examples from Santander [in Spain] to France and Germany.” They range from Ana Patricia Botín, head of Banesto, a bank owned by Santander, to Liz Mohn and Johanna Quandt, members of families that control Europe’s largest media group (Bertelsmann) and the world’s largest luxury carmaker (BMW), respectively.
That bodes well for family companies in the current economic crisis as their focus on the long term pays off. Mrs Riu says: “Being a CEO owner has an advantage over non-CEO owners: it [concerns] the vision of the long term. When you are the owner and want to pass it on to your children, focusing on the long term is better than if you are concentrating only on short-term profits.”
Caroline Marston, managing director of Marston Properties in the UK, agrees: “Having a long-term focus is definitely an advantage...But most important is the understanding.” The 46-year-old mother of two adds: “When you have young children you need support and understanding. I don’t think I would have got this far if I wasn’t in a family company.”
Mrs Riu, talking in her office just off the Playa del Palma in Majorca, says there are three broad reasons why life as a female executive is easier in a family company. One is the immersion family members have had in the company from an early age: “Many companies are like ours – we talk about the company from childhood. We talked about it at lunch and dinner. It was good because my brother [co-CEO and owner] and I learnt a lot while eating.”
The second reason relates to her mother’s own example: “You see as a daughter how your mother works and looks after the family, her system of organisation.”
Last, there is increasingly a need to involve the women of a family, both as families get smaller and women in some countries such as Spain become generally more educated than men.
Berthold Leibinger, former CEO of Trumpf, Europe’s biggest machine tool maker, said continuity was important in choosing his daughter Nicola Leibinger-Kamüller, when she was appointed to succeed him three years ago: “Keeping it in the family is important because I have known my successor for 45 years. I know how she thinks and she knows how I think.”
Both Ms Marston and Mrs Riu say family companies offer a more flexible workplace for women. Ms Marston says: “If one of my children is sick I am going to drop everything and rearrange things.” Mrs Riu, with three grown-up children, adds: “It doesn’t mean I work fewer hours but, for example, when my youngest was very ill when she was young I had time for her.”
Another advantage in family companies that both Mrs Riu and Ms Marston identify is a lack of the cliques that characterise many listed companies and make it hard for women to progress. Ms Marston says: “I haven’t had any of the politics that you have in a listed company.” Mrs Riu says the selcetion of executives in family companies is fairer: “It is more objective.” But she also points out other hurdles, such as cultural problems that can hinder the progress of women in a family company just as much as elsewhere. Most of Riu’s hotel managers are women but sending them abroad is tricky, she says, either because local employees won’t accept them or because they find it hard to uproot their families.
Nevertheless, even if male-dominated networks are absent, there are always family dynamics. After she was made chief executive, Ms Leibinger-Kamüller told the Financial Times: “We’re a team. I hope I won’t have to boss them around, though my brother would always say I’m the older sister and my husband would complain I’m the one in charge.” Ms Marston was unsure what to call her older relatives in board meetings. She has made the company structure more formal, with a constitution for family members.
Most of all, what characterises these female CEO-owners is their commitment. Mrs Riu says she has trained her children to be good owners – “I don’t want them in Maseratis, with spectacular rubies” – and she highlights the closeness of her family with the business. She lives next door to her brother and his family and recalls that after the birth of her first son: “I lived very close to the offices so I could go into the office and then return home to nurse him.”
Ms Marston, too, is keen that her children experience life outside the company: “I’d rather they did something else first. Once you are in it, you are in it.”
10/15/2008
Out of the Ordinary Insurance
When people think of insurance, they most likely conjure up images of cars, houses, travel and pets but there are some not-so-standard insurance policies that you may never have thought about!
Believe it or not there is actually a company in Florida which offers insurance against Alien Abduction! You can insure yourself against being kidnapped by extra-terrestrials, and if you are snatched by a bright light from the sky, then you need to hope you are dropped back on Earth so you can fill in the paperwork and make a claim. So if you're worried about seeing UFO's near your home or have been watching too many X-Files episodes then this type of insurance could be just the ticket.
Many celebrities over the years have insured parts of their bodies that were vital to their success. Michael Flatley insured his legs for millions, Bruce Springsteen covered his voice and Egon Ronay took out a policy on his taste buds. It's unlikely that most of the general public would consider such extreme measures but when there's big money and livelihood at stake, it can often make sense.
The term 'moral turpitude' is not one you hear every day but it refers to a type of insurance policy that covers celebrity endorsements when they go wrong. If, for example, a company paid a celebrity millions of pounds to endorse a product and then during that time the celebrity was convicted of wrongdoing then the policy would protect the company's investment.
Sporting events also come into play within the insurance market and not just in the way you might think with regards to sponsorships. Big sporting events like the Olympics and the Superbowl are often heavily insured against things going wrong and the event not being able to take place. One policy even covered Scottish football fans for trauma should Scotland ever go on to win the World Cup. Another possibility could be to insure against being hit by a stray ball at a golf event or cricket match, because you just never know.
In recent years insuring your pets has gone from being considered rather quirky and unnecessary to being a must have item for animal owners, so who knows what areas of insurance may grow in popularity in the future? All it needs is one or two confirmed Alien abductions and a whole new market could open up!
For most people however, such insurance is nothing short of fantastical and the likelihood of finding insurers to cover such bizarre potential occurrences is likely to be slim at best. There is of course a more down-to-earth side to insurance however than all of these extreme policies and remembering to get a home insurance quote for example before you move house will prove much more useful in your day-to-day life than wondering if E.T. is going to pay you a visit.
Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
Believe it or not there is actually a company in Florida which offers insurance against Alien Abduction! You can insure yourself against being kidnapped by extra-terrestrials, and if you are snatched by a bright light from the sky, then you need to hope you are dropped back on Earth so you can fill in the paperwork and make a claim. So if you're worried about seeing UFO's near your home or have been watching too many X-Files episodes then this type of insurance could be just the ticket.
Many celebrities over the years have insured parts of their bodies that were vital to their success. Michael Flatley insured his legs for millions, Bruce Springsteen covered his voice and Egon Ronay took out a policy on his taste buds. It's unlikely that most of the general public would consider such extreme measures but when there's big money and livelihood at stake, it can often make sense.
The term 'moral turpitude' is not one you hear every day but it refers to a type of insurance policy that covers celebrity endorsements when they go wrong. If, for example, a company paid a celebrity millions of pounds to endorse a product and then during that time the celebrity was convicted of wrongdoing then the policy would protect the company's investment.
Sporting events also come into play within the insurance market and not just in the way you might think with regards to sponsorships. Big sporting events like the Olympics and the Superbowl are often heavily insured against things going wrong and the event not being able to take place. One policy even covered Scottish football fans for trauma should Scotland ever go on to win the World Cup. Another possibility could be to insure against being hit by a stray ball at a golf event or cricket match, because you just never know.
In recent years insuring your pets has gone from being considered rather quirky and unnecessary to being a must have item for animal owners, so who knows what areas of insurance may grow in popularity in the future? All it needs is one or two confirmed Alien abductions and a whole new market could open up!
For most people however, such insurance is nothing short of fantastical and the likelihood of finding insurers to cover such bizarre potential occurrences is likely to be slim at best. There is of course a more down-to-earth side to insurance however than all of these extreme policies and remembering to get a home insurance quote for example before you move house will prove much more useful in your day-to-day life than wondering if E.T. is going to pay you a visit.
Isla Campbell writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.
10/14/2008
'StarCraft 2' is now 3
Wassup StarCraft fans?!! That was my Brian Tong impression. Spot on, no? Anyway, I have good news and bad news. The bad news is that StarCraft II is shaping up to be a much more ambitious product than Blizzard Entertainment had originally conceived, and the company is going to be forced to delay parts of the game.
The good news is that instead of waiting until everything in the game is complete, Blizzard is splitting the game into a trilogy--each focusing on a different StarCraft race.
The first game in the series--Wings of Liberty--will focus on the Terrans. The second game, Heart of the Swarm, will focus on the Zerg, while the final game, Legacy of the Void, will be devoted to the Protoss.
According to Blizzard, each release will be a fully fledged campaign, featuring 26 to 30 missions apiece with a branching storyline that will change depending on players' choices. Each release in the trilogy will also feature the multiplayer portion, with all three races playable and balanced, according to Blizzard.
Although Activision claims the game will be released in 2009, like all Blizzard Entertainment games expect it "when it's done." Which conceivably could be 2010.
2009 Dodge Ram is tough outside, tech inside
When we first laid eyes on the Dodge Ram, a few words came to mind: gargantuan, behemoth, colossal. The words that didn't immediately come to mind when the big ol' truck rolled into the CNET garage were "high" or "tech." However, after--literally--climbing into the Ram's cab and spending some time behind the wheel, we found a surprising amount of drive-train tech and, more surprisingly, some very sophisticated cabin tech.
Satellite TV, a hard drive-based audio system, and in-vehicle Wi-Fi are just some of the ambitious, if unrefined, tricks the Dodge Ram has up its sleeve.
Read the full 2009 Dodge Ram 1500 review.
Pantech Matrix slides both ways
AT&T and Pantech have just introduced the Matrix, a dual-sliding handset with both a QWERTY keyboard and a regular number keypad, just like the Pantech Duo and the Helio Ocean (also made by Pantech). Unlike the Duo, the Matrix is not a smart phone, and is primarily designed as a messaging phone with high-end multimedia features. Its features include HSDPA, Bluetooth, a microSD card slot, A-GPS (with AT&T Navigator support), instant messaging, a music player, mobile email, a 1.3-megapixel camera, and quad-band GSM support. Since it's a 3G phone, the Matrix will also have access to AT&T Video Share calling, AT&T Mobile Music, Cellular Video, and mobile e-mail. The Matrix measures 4.02 by 1.97 by 0.78 inch, weighs around 4.7 ounces, and comes in red, green, and blue. It's officially available starting today, but some stores have already begun selling them. The Matrix will cost you $79.99 with a two-year service agreement and a mail-in rebate.
10/13/2008
Infosys slashes growth forecast
India’s outsourcing sector is bracing itself for a sharper than expected slowdown after the industry’s second-largest operator, Infosys Technologies, slashed its full-year forecast for revenue growth by nearly 30 per cent.
In a further bearish signal, Infosys also backed away from its bid for the UK’s Axon, saying it would not match a rival offer for the company from Indian competitor HCL.
EDITOR’S CHOICE
Path cleared for HCL to buy Axon - Oct-10Infosys nervous after Tata factory dispute - Sep-09Infosys ‘cautious’ despite profits jump - Jul-11Infosys develops new pricing models - Jan-11India’s IT outsourcers face increasing costs - Dec-27Indian IT gears up for US backlash - Dec-18“When we looked at the future and given what other things are happening, we felt it would be prudent to reduce our guidance,” S Gopalakrishnan, Infosys chief executive, told the FT.
The outsourcing sector has become one of the pillars of India’s economy by providing third-party services such as software and hardware management to overseas clients.
But the crisis afflicting one of the industry’s main sources of business, the US financial sector, is increasing uncertainty over the outlook for the sector.
Infosys reported strong results for its second quarter, the three months to September 30, but sounded a cautious note on the remainder of the fiscal year to March 2009.
Infosys said revenue grew 19 per cent against a year earlier in the September quarter to $1.22bn, while net profit was up 17.3 per cent to $318m.
But it forecast that full-year revenue would grow between 13.1 per cent and 15.2 per cent against a year earlier to up to $4.81bn compared with an earlier forecast of growth of between 19 and 20 per cent.
It also predicted that revenue in the third quarter ending December would be flat compared with the second quarter, at $1.22bn.
Sandeep Muthangi, analyst with India Infoline in Mumbai, said the change in guidance was a surprise to the market.
At least 3 percentage points was due to the sharp depreciation of the rupee against the US dollar, with the currency losing nearly 20 per cent this year to approach levels close to Rs50.
“What they have done is put in a significant amount of buffer for either meeting or outperforming expectations for the next quarter,” Mr Muthangi said.
Mr Gopalakrishnan also said the group believed its 600p per share bid for Axon, a specialist in applying SAP business software, was fully valued and it was not prepared to match HCL’s 650p price.
In a further bearish signal, Infosys also backed away from its bid for the UK’s Axon, saying it would not match a rival offer for the company from Indian competitor HCL.
EDITOR’S CHOICE
Path cleared for HCL to buy Axon - Oct-10Infosys nervous after Tata factory dispute - Sep-09Infosys ‘cautious’ despite profits jump - Jul-11Infosys develops new pricing models - Jan-11India’s IT outsourcers face increasing costs - Dec-27Indian IT gears up for US backlash - Dec-18“When we looked at the future and given what other things are happening, we felt it would be prudent to reduce our guidance,” S Gopalakrishnan, Infosys chief executive, told the FT.
The outsourcing sector has become one of the pillars of India’s economy by providing third-party services such as software and hardware management to overseas clients.
But the crisis afflicting one of the industry’s main sources of business, the US financial sector, is increasing uncertainty over the outlook for the sector.
Infosys reported strong results for its second quarter, the three months to September 30, but sounded a cautious note on the remainder of the fiscal year to March 2009.
Infosys said revenue grew 19 per cent against a year earlier in the September quarter to $1.22bn, while net profit was up 17.3 per cent to $318m.
But it forecast that full-year revenue would grow between 13.1 per cent and 15.2 per cent against a year earlier to up to $4.81bn compared with an earlier forecast of growth of between 19 and 20 per cent.
It also predicted that revenue in the third quarter ending December would be flat compared with the second quarter, at $1.22bn.
Sandeep Muthangi, analyst with India Infoline in Mumbai, said the change in guidance was a surprise to the market.
At least 3 percentage points was due to the sharp depreciation of the rupee against the US dollar, with the currency losing nearly 20 per cent this year to approach levels close to Rs50.
“What they have done is put in a significant amount of buffer for either meeting or outperforming expectations for the next quarter,” Mr Muthangi said.
Mr Gopalakrishnan also said the group believed its 600p per share bid for Axon, a specialist in applying SAP business software, was fully valued and it was not prepared to match HCL’s 650p price.
Markets surge on £1,430bn European bank bail-out
Germany, France and other European countries have unveiled bail-out plans to recapitalise their banks and reopen credit markets, following the British announcement of measures to nationalise parts of the UK banking system.
The world’s stock markets soared as details emerged of the co-ordinated European campaign to spend more than £1,430bn (€1,812bn, $2,420bn) on bailing out the continent’s troubled banks.
EDITOR’S CHOICE
Turmoil brings out best in Europe - Oct-13Lex: Brownian Motion in Europe - Oct-13Treasury outlines Tarp details - Oct-13In depth: Global financial crisis - Oct-13French brawn and UK brains lead way - Oct-13Europe acts to rescue banks - Oct-13London’s FTSE 100 closed up 8.3 per cent, its second biggest one-day gain on record, after the British government announced its plans to inject £37bn into three of the country’s biggest banks.
Other European stock markets followed suit as Germany, France and the Netherlands announced their plans, Italy’s cabinet passed a new decree offering more support to the financial sector, and the Spanish government approved a guarantee for issues of new bank debt. Frankfurt’s Xetra Dax closed up 11.4 per cent, while the CAC 40 in Paris rose 11.2 per cent.
Europe’s central banks promised unlimited dollar funding in co-ordinated action with the US Federal Reserve. The European Central Bank, Bank of England and Swiss National Bank said they were ready to inject as much as needed into the markets for dollar funding covering periods of seven days, a month and 84 days.
Confidence in the money markets showed signs of returning as the interbank cost of borrowing in sterling, euros and dollars fell. Three-month euro Libor posted its biggest decline this year and three-month dollar Libor had its steepest fall since March.
US stocks rallied when Wall Street opened, as details began to emerge of the plan to recapitalise US banks and other financial institutions. Neel Kashkari, the Treasury assistant secretary appointed by Hank Paulson, Treasury secretary, to run the US government’s $700bn bail-out fund, said the scheme would be “voluntary” in his first public statements since his appointment.
“The equity purchase programme will be voluntary and designed with attractive terms to encourage participation from healthy institutions.”
Mr Kashkari said Ben Bernanke, Federal Reserve chairman, would lead the oversight board for the troubled asset relief programme. That panel, which met for the first time last week, also includes Mr Paulson and the heads of the Securities and Exchange Commission, the Federal Housing Finance Agency and the Department of Housing and Urban Development.
In other moves, Australia and New Zealand announced guarantees for all bank deposits, as did the United Arab Emirates, while Saudi Arabia cut its interest rates.
The Swedish government said on Monday it would unveil steps to safeguard their financial sector in the next few days, but did not plan to inject capital into the Nordic country’s banks. Norway announced at the weekend it would offer its commercial banks up to $55.4bn in government bonds in exchange for mortgage debt and Portugal said it would make as much as €20bn available in guarantees for its banks’ financing.
Gordon Brown, the UK prime minister, defended his government’s “unprecedented but essential” £37bn injection that could leave it owning a majority stake in Royal Bank of Scotland, one of the world’s biggest banks, and more than 40 per cent of the combined Lloyds TSB and HBOS, which is set to be the country’s largest mortgage lender.
The German government endorsed measures closely modelled on the British rescue plan unveiled last week, will initially empower the finance ministry provide as much as €500bn in loan guarantees and capital to bolster the banking system.
The French government pledged €360bn to the country’s banks, including €320bn of loan guarantees and €40bn to buy stakes in French banks. The guarantees will run through to the end of 2009.
Dutch banks will be able to draw on €200bn of government guarantees for their loans to each other.
The world’s stock markets soared as details emerged of the co-ordinated European campaign to spend more than £1,430bn (€1,812bn, $2,420bn) on bailing out the continent’s troubled banks.
EDITOR’S CHOICE
Turmoil brings out best in Europe - Oct-13Lex: Brownian Motion in Europe - Oct-13Treasury outlines Tarp details - Oct-13In depth: Global financial crisis - Oct-13French brawn and UK brains lead way - Oct-13Europe acts to rescue banks - Oct-13London’s FTSE 100 closed up 8.3 per cent, its second biggest one-day gain on record, after the British government announced its plans to inject £37bn into three of the country’s biggest banks.
Other European stock markets followed suit as Germany, France and the Netherlands announced their plans, Italy’s cabinet passed a new decree offering more support to the financial sector, and the Spanish government approved a guarantee for issues of new bank debt. Frankfurt’s Xetra Dax closed up 11.4 per cent, while the CAC 40 in Paris rose 11.2 per cent.
Europe’s central banks promised unlimited dollar funding in co-ordinated action with the US Federal Reserve. The European Central Bank, Bank of England and Swiss National Bank said they were ready to inject as much as needed into the markets for dollar funding covering periods of seven days, a month and 84 days.
Confidence in the money markets showed signs of returning as the interbank cost of borrowing in sterling, euros and dollars fell. Three-month euro Libor posted its biggest decline this year and three-month dollar Libor had its steepest fall since March.
US stocks rallied when Wall Street opened, as details began to emerge of the plan to recapitalise US banks and other financial institutions. Neel Kashkari, the Treasury assistant secretary appointed by Hank Paulson, Treasury secretary, to run the US government’s $700bn bail-out fund, said the scheme would be “voluntary” in his first public statements since his appointment.
“The equity purchase programme will be voluntary and designed with attractive terms to encourage participation from healthy institutions.”
Mr Kashkari said Ben Bernanke, Federal Reserve chairman, would lead the oversight board for the troubled asset relief programme. That panel, which met for the first time last week, also includes Mr Paulson and the heads of the Securities and Exchange Commission, the Federal Housing Finance Agency and the Department of Housing and Urban Development.
In other moves, Australia and New Zealand announced guarantees for all bank deposits, as did the United Arab Emirates, while Saudi Arabia cut its interest rates.
The Swedish government said on Monday it would unveil steps to safeguard their financial sector in the next few days, but did not plan to inject capital into the Nordic country’s banks. Norway announced at the weekend it would offer its commercial banks up to $55.4bn in government bonds in exchange for mortgage debt and Portugal said it would make as much as €20bn available in guarantees for its banks’ financing.
Gordon Brown, the UK prime minister, defended his government’s “unprecedented but essential” £37bn injection that could leave it owning a majority stake in Royal Bank of Scotland, one of the world’s biggest banks, and more than 40 per cent of the combined Lloyds TSB and HBOS, which is set to be the country’s largest mortgage lender.
The German government endorsed measures closely modelled on the British rescue plan unveiled last week, will initially empower the finance ministry provide as much as €500bn in loan guarantees and capital to bolster the banking system.
The French government pledged €360bn to the country’s banks, including €320bn of loan guarantees and €40bn to buy stakes in French banks. The guarantees will run through to the end of 2009.
Dutch banks will be able to draw on €200bn of government guarantees for their loans to each other.
10/06/2008
What is going on with the markets? What should you do about it?
On September 27th, investors thought the $700 bailout package was on the verge of passing the House. Hank Paulson and George W. Bush pushed that bill as the way to avoid financial calamity -- and "heaven help us" if it failed to pass. Last Monday, the bill was voted down -- and the Dow fell a record 778 points. Last Friday, an $810 billion version of the bill passed -- with added sweeteners.
So, did the clouds in the heavens part to reveal sunshine and rainbows? Not exactly. Since the market closed on the 27th -- the day before the bailout to save the world was expected to pass -- the Dow has lost 1,188 points, wiping out $2 trillion in stock market value. I wonder whether anyone actually believed the government when it said the bailout bill would fix things.
I didn't, because I did not expect the bailout to work. The good news is that with the market regularly tanking so much every day, our leaders are getting ever more desperate to try something that will work. This increases the odds that they will try what I think is a better plan. And if it would kindly supply a $25 billion guarantee to the $1.7 trillion Commercial Paper (CP) market. This would help companies finance payroll and buy inventory. (How hard would that be to do this after the government has already set aside $50 billion to guarantee the $3.4 trillion money market industry?)
Serious Money: Up stocks on bad day -- AAPL, EWBC, IRBT & MET
Investors shuddered in horror as the market was dropping; with the Dow down 800 points in midday trading and finally closing at a better but still dismal 9,955.50, off -369.88 or -3.58%.
So, on this terrible day what if anything made a good showing of itself? Four stocks among the ones that I follow popped up.
Apple Inc (NASDAQ: AAPL) closed at $98.14, up 1.07, or 1.10%. Apple needs no introduction to most readers of BloggingStocks or anyone breathing almost anywhere on the planet. Although the stock appears to be a fallen star for the time being and is down 51% for the year it managed to outshine almost everything else today. Apple has not traded at a P/E below it's projected growth rate in years so the bargain hunters were obviously interested.
East West Bancorp (NASDAQ: EWBC) closed at $15.69, up 0.61, or 4.05%. Some banking stocks are recovering nicely and this small California bank with business in the Asian community here and in China as well seems to be getting out from under the taint of the sector. It is one of the stocks I included in Chasing Value: Financial devastation? Still up but less. If I had to 'bank' on whether this stock is higher or lower in a years time I would say higher.
IRobot Corp (NYSE: IRBT) closed at $13.50 up 0.36 or 2.74%. the maker of small robotic home vacuum cleaners and military reconnaissance vehicles has been hovering between in a tight range for months. On this day when other companies were suffering it managed to eek out a gain.
Metropolitan Life (NYSE: MET) closed at $44.32, up 2.19, or 5.20%. which is nothing short of remarkable today. Now that AIG has tanked, I think it is the largest of the international life insurance companie and is no doubt chasing and getting some of American International Group's (NYSE: AIG) business. AIG was up a penny today too. Investors Seek Safety with MetLife.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He writes the columns Chasing Value and Serious Money. DISCLOSURE: I currently own shares of IRBT.
10/05/2008
When considering the purchase of a memory foam topper, there are many considerations that should factor into your final decision. Such things as price
When considering the purchase of a memory foam topper, there are many considerations that should factor into your final decision. Such things as price, manufacturer, warranty and comfort all play a part. Mattress toppers are an excellent choice if you don't want to pay full price for the more expensive complete memory foam mattress. However, with the topper, you end up retaining much of the comfort of the full mattress and yet save considerable money.
What are some considerations for making your purchase? First and foremost on most consumers minds is price, followed closely by comfort. While we will certainly discuss these aspects of the purchase, ultimately, the most important advice one could be given is to try out any product yourself before purchase. Comfort is defined differently by consumers so it is important that your purchase reflect your personal tastes.
The prices for memory foam toppers range from a low price point of $120.00, to the higher end Tempur-pedic pads that retail for roughly $900.00 each. Of course the comfort and quality of these products differs significantly. One important point to remember is that memory foam thickness will vary and should play a role in your ultimate decision. The cheaper products have a less dense foam that will not last as long as the denser foam products sold by the higher end manufacturers. Most consumers should consider how long this purchase is meant to last, and spend accordingly.
To summarize, the decision to buy a memory foam topper for your bed has many facets leading to the ultimate purchase. Price, comfort, quality, and warranty should all be considered by the individual buyer in making the final purchasing decision.
What are some considerations for making your purchase? First and foremost on most consumers minds is price, followed closely by comfort. While we will certainly discuss these aspects of the purchase, ultimately, the most important advice one could be given is to try out any product yourself before purchase. Comfort is defined differently by consumers so it is important that your purchase reflect your personal tastes.
The prices for memory foam toppers range from a low price point of $120.00, to the higher end Tempur-pedic pads that retail for roughly $900.00 each. Of course the comfort and quality of these products differs significantly. One important point to remember is that memory foam thickness will vary and should play a role in your ultimate decision. The cheaper products have a less dense foam that will not last as long as the denser foam products sold by the higher end manufacturers. Most consumers should consider how long this purchase is meant to last, and spend accordingly.
To summarize, the decision to buy a memory foam topper for your bed has many facets leading to the ultimate purchase. Price, comfort, quality, and warranty should all be considered by the individual buyer in making the final purchasing decision.
Free Insurance Quotes Fast
There are many reasons you might need a fast insurance quote from a business. Speed is important. In addition, you want to ensure that your quotes are free. You should never pay money for insurance quotes of any kind.
When you go shopping for a car at the car lot and you find the one you want to buy, you want to be able to drive it off the lot the night you buy the car. It is the law that a car lot cannot allow you to drive away with the car unless you are insured with auto insurance. The problems that arise here is that many companies are not available to give immediate quotes. It could take hours or days. Some people just go with an insurance company because they get a rate over the phone and they want to go home with the car. The problems occur when they don't look for car insurance quotes and get the highest rates.
You can get excellent rates for your auto insurance super fast when you go through the medical quote finder online. This system can give you auto insurance quotes in just a couple of minutes. They can help you find the right policy for you fast and efficiently so you can drive the care off of the lot the same night you buy the car.
Getting a free quote is also important when you are looking for any type of insurance like medical insurance, life insurance, and auto insurance. You should never pay money for a quote when you can get it free. In addition, if you are paying money for a quote you most likely will be paying a very high rate on your insurance also.
Time and money is very important to most people. If you can get the fastest quotes possible to find you the lowest rates for every type of insurance you should do it. There is no excuse for paying an extreme amount because you took what you could get.
Natasha Wilson has been assisting consumers in saving on their Free Insurance Quotes since 2004. She is standing by to assist you in all your Auto Insurance needs.
When you go shopping for a car at the car lot and you find the one you want to buy, you want to be able to drive it off the lot the night you buy the car. It is the law that a car lot cannot allow you to drive away with the car unless you are insured with auto insurance. The problems that arise here is that many companies are not available to give immediate quotes. It could take hours or days. Some people just go with an insurance company because they get a rate over the phone and they want to go home with the car. The problems occur when they don't look for car insurance quotes and get the highest rates.
You can get excellent rates for your auto insurance super fast when you go through the medical quote finder online. This system can give you auto insurance quotes in just a couple of minutes. They can help you find the right policy for you fast and efficiently so you can drive the care off of the lot the same night you buy the car.
Getting a free quote is also important when you are looking for any type of insurance like medical insurance, life insurance, and auto insurance. You should never pay money for a quote when you can get it free. In addition, if you are paying money for a quote you most likely will be paying a very high rate on your insurance also.
Time and money is very important to most people. If you can get the fastest quotes possible to find you the lowest rates for every type of insurance you should do it. There is no excuse for paying an extreme amount because you took what you could get.
Natasha Wilson has been assisting consumers in saving on their Free Insurance Quotes since 2004. She is standing by to assist you in all your Auto Insurance needs.
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