Texas Instruments Inc.'s (TXN) third-quarter profit fell 30%, hurt by a broad slump in demand that the chip maker said should continue into the current period.
The company's revenue in the third quarter was higher than it expected, but it noted the quarter was softer than normal. While executives said on a conference call that the company is seeing "early signs of stabilization," they still expect the fourth quarter to be weak and below seasonal.
"Economic uncertainty continues to weigh on demand in almost every major market segment in which we operate," Chairman and Chief Executive Rich Templeton said in a press release.
TI, which makes chips used in everything from cellphones to industrial equipment, had seen a sharp rebound after the recession caused customers to virtually stop buying chips. But recent macroeconomic worries have led to softer demand for semiconductors and other tech products, weighing not only on consumer businesses but also starting to affect enterprise demand.
TI in August lowered its view for the third quarter, saying it was seeing broad-based weakness across its customers and markets. The company on Monday echoed those comments and provided lower-than-expected earnings guidance for the current quarter.
Shares, up 11% over the past 12 months through Monday's close, slipped 1.3% to $31.27 in after-hours trading. The stock had climbed 4% during the regular session trading, slightly better than the 3.4% gain in the Philadelphia SOX Semiconductor index.
Bernstein analyst Stacy Rasgon said weakness in the third and fourth quarters was broadly expected, with macroeconomic softness weighing on TI's business.
"Results weren't horrible versus where expectations were," Rasgon said. "Everyone expected it to be a messy quarter, but they actually beat this quarter."
Chief Financial Officer Kevin March said in an interview the market is beginning to bottom, with July seeing the sharpest drop in orders but the decline moderating in August and September. He said revenue hit a low in July and grew the following two months.
He said the market declines aren't driven by excess semiconductor inventory but noted customers are being cautious with orders on worries about the macroeconomic environment.
"Customers had been reducing their internal inventories, and that's causing us and our competitors in the semiconductor industry to see revenue decline more sharply than what our customers ard actually experiencing," he said.
Ron Slaymaker, vice president of investor relations, said during a conference call that the reduction in TI inventory by customers is largely past. He noted the company has a "reasonable" view of the fourth quarter but said demand beyond that is tied to what the macroeconomic environment is like.
TI predicted a fourth-quarter profit of 28 cents to 36 cents, including about 15 cents of acquisition-related costs, on revenue between $3.26 billion and $3.54 billion. Analysts, on average, were expecting earnings of 54 cents a share on revenue of $3.43 billion, according to Thomson Reuters. A year ago, TI reported fourth-quarter earnings of 78 cents a share on $3.53 billion in revenue.
TI has been benefiting in recent quarters from increased focus on its highly profitable analog and embedded-application chips, as well as its applications processor for smartphones, tablets and other devices. Last month, it closed a $6.5 billion deal for rival National Semiconductor, expanding its reach in the analog market.
The company's acquisition of National Semiconductor, while hurting fourth-quarter earnings by 15 cents a share, is helping buffer its revenue in the period, March said. At the midpoint of TI's guidance, sales are down about 2% sequentially with contributions from National Semiconductor's revenue. Taking that out, the midpoint would be down 10%, he said.
March added during a conference call that acquisition charges will total $260 million in the fourth quarter and then decline to about $150 million in the first quarter and $110 million in the second quarter. The charges should then fall by about $10 million per quarter until reaching $80 million, which is the amortization of intangibles amount. He said that would continue for about eight to 10 years.
March said smartphone demand remains "solid," but the company's other businesses are experiencing softness. Automotive customers are "being confronted by wary customers given the macroeconomic outlook," he said, while industrial demand is "weak." Communications infrastructure is slowing, while consumer and PC demand are below normal seasonality, March added.
For the latest quarter, TI reported a profit of $601 million, or 51 cents a share, down from $859 million, or 71 cents a share, a year earlier. The latest quarter included about 9 cents of costs tied to the acquisition. Revenue fell 7.3% to $3.47 billion.
The company last month forecast a per-share profit of 56 cents to 60 cents with revenue between $3.23 billion and $3.37 billion.
Gross margin narrowed to 50.3% from 54.5%.
Sales of analog chips, which provide almost half of total revenue, slipped 1.5% as earnings fell 20%. Revenue from the company's embedded processing segment declined 7% as earnings decreased 29%, while wireless sales dropped 24% amid lower demand for connectivity chips from key customers, pushing earnings down 57%.
A business plan is a formal statement of a set of business goals, the reasons why they are believed attainable, and the plan for reaching those goals.
Showing posts with label business news. Show all posts
Showing posts with label business news. Show all posts
Keystone XL Pipeline Story
In July 2008, TransCanada Keystone Pipeline LP Ltd., announced Keystone XL, an approximately $7 billion pipeline project which would almost double the size and capacity of the company’s pipeline system connecting oil supply regions in Canada with U.S. refineries and distribution networks. The project comprises an approximately 1,661-mile, 36-inch crude oil pipeline stretching from Alberta, Canada, to the Gulf Coast Region in Texas.
Despite clear advantages in terms of job creation, cost improvement, and enhanced security, the project has not yet been approved by the U.S. Department of State. In fact, the permit review of the project was delayed by almost a full year from the originally announced schedule.
In a prior study, we determined that the total impact of the construction and development phases of the Keystone XL project on the U.S. economy would include (over the life of the project) $20.931 billion in total spending, $9.605 billion in output, and 118,935 person-years of employment. These were calculated at that time in constant (2009) dollars and rise slightly when adjusted to a 2011-dollar basis ($21.979 billion in total spending and $10.087 billion in output). The delays in the permitting process have cost business activity (on a net present value basis) of $1.19 billion in spending and $559 million in output, as well as postponing 88,622 person-years of employment. Job deferrals for states along the route vary, but most states have seen in excess of 5,000 person-years of employment (one person working for one year) delayed during a difficult economic period. View more on Ray Perryman Column.
Despite clear advantages in terms of job creation, cost improvement, and enhanced security, the project has not yet been approved by the U.S. Department of State. In fact, the permit review of the project was delayed by almost a full year from the originally announced schedule.
In a prior study, we determined that the total impact of the construction and development phases of the Keystone XL project on the U.S. economy would include (over the life of the project) $20.931 billion in total spending, $9.605 billion in output, and 118,935 person-years of employment. These were calculated at that time in constant (2009) dollars and rise slightly when adjusted to a 2011-dollar basis ($21.979 billion in total spending and $10.087 billion in output). The delays in the permitting process have cost business activity (on a net present value basis) of $1.19 billion in spending and $559 million in output, as well as postponing 88,622 person-years of employment. Job deferrals for states along the route vary, but most states have seen in excess of 5,000 person-years of employment (one person working for one year) delayed during a difficult economic period. View more on Ray Perryman Column.
FSA Announces Business Plan for 2011/12
The Financial Services Authorit has today published its business plan setting out its priorities for 2011/12, and the implications for the FSA's budget.
The document outlines the FSA's priorities and specific initiatives for the year ahead, which reflect the continuing challenges facing the financial services industry.
This year's business plan has been created against a backdrop of considerable change, with the UK government last year announcing plans for changes to the structure of financial services regulation in the UK.
The FSA will restructure into the Prudential Regulation Authority (PRA) and the existing FSA legal entity will become the Financial Conduct Authority (FCA). This change will occur at the end of 2012 or early 2013.
Until then the FSA will continue to deliver on its statutory objectives and implement the major initiatives that are already underway.
The key areas will include:
Maintaining ongoing supervision in a period of continued fragility in markets.
1. Continuing to influence the international and European policy forums, delivering, in particular, the new prudential regulatory agenda.
2. Implementing the current EU major policy initiatives, including Solvency II.
3. Delivering on the principal national sector initiatives to improve consumer protection: the Retail Distribution Review (RDR) and Mortgage Market Review (MMR).
4. Continuing to improve the FSA's operating systems and the quality of its staff.
5. Implementing the government's regulatory reform agenda.
Reflecting the extensive resources needed for the regulatory reform programme and the need to recognise the difficult economic circumstances for many firms, the FSA is not planning any new discretionary initiatives and is capping headcount at the current level.
The majority of the FSA's resources are utilised providing ongoing supervision. The two biggest policy initiatives are Solvency II and influencing the substantial international prudential reform agenda, especially in respect of Basel III.
The FSA continues to implement key areas of the substantial international regulatory reform agenda particularly in respect of the banking agenda set by the Basel Committee and ensuring that the wider policy agenda primarily mandated by the European Union is delivered.
The document outlines the FSA's priorities and specific initiatives for the year ahead, which reflect the continuing challenges facing the financial services industry.
This year's business plan has been created against a backdrop of considerable change, with the UK government last year announcing plans for changes to the structure of financial services regulation in the UK.
The FSA will restructure into the Prudential Regulation Authority (PRA) and the existing FSA legal entity will become the Financial Conduct Authority (FCA). This change will occur at the end of 2012 or early 2013.
Until then the FSA will continue to deliver on its statutory objectives and implement the major initiatives that are already underway.
The key areas will include:
Maintaining ongoing supervision in a period of continued fragility in markets.
1. Continuing to influence the international and European policy forums, delivering, in particular, the new prudential regulatory agenda.
2. Implementing the current EU major policy initiatives, including Solvency II.
3. Delivering on the principal national sector initiatives to improve consumer protection: the Retail Distribution Review (RDR) and Mortgage Market Review (MMR).
4. Continuing to improve the FSA's operating systems and the quality of its staff.
5. Implementing the government's regulatory reform agenda.
Reflecting the extensive resources needed for the regulatory reform programme and the need to recognise the difficult economic circumstances for many firms, the FSA is not planning any new discretionary initiatives and is capping headcount at the current level.
The majority of the FSA's resources are utilised providing ongoing supervision. The two biggest policy initiatives are Solvency II and influencing the substantial international prudential reform agenda, especially in respect of Basel III.
The FSA continues to implement key areas of the substantial international regulatory reform agenda particularly in respect of the banking agenda set by the Basel Committee and ensuring that the wider policy agenda primarily mandated by the European Union is delivered.
What Work Practices Can Prevent Electrical Accidents?
Electrical hazards are one of the greatest threats to workplace safety. Certain work environments, including those that are dimly lit, wet, or in an especially confined space pose even more risk of serious injury or death to workers who neglect to learn and follow safe work practices.
Electrical accidents are largely preventable through safe work practices. Examples of these practices include the following:
* De-energizing electric equipment before inspection or repair * Keeping all electric tools properly maintained * Exercising caution when working near energized lines * Using the appropriate protective equipment. Read more on WORKPLACE SAFETY TIPS.
Retail sales rise in US
Retail sales jump in US. Retail sales posted the biggest monthly gain in four months in February, despite a dip in consumer confidence and rising fuel prices. The Commerce Department said sales at the nation’s retailers rose 1 percent from January, and it revised January’s increase to 0.7 percent, twice its previous estimate.
“While built-up demand and positive job growth will continue to boost industry sales, the recent dip in consumer confidence and climb in fuel prices are a concern,” said Sandy Kennedy, president of the Retail Industry Leaders Association in Arlington. “It remains to be seen how much of an effect it will have on spending and if it will hamper the recent progress the economy has made.”
Consumers are paying more at the pump and higher gasoline prices were partially reflected in the increase in retail sales. The price has increased about 40 cents in the last three weeks in Austin to about $3.40 per gallon. Department store sales rose 1 percent, sales at electronics and appliance stores rose 0.9 percent and sales at restaurants rose 1.2 percent. Read more: Retail sales jump in February.
“While built-up demand and positive job growth will continue to boost industry sales, the recent dip in consumer confidence and climb in fuel prices are a concern,” said Sandy Kennedy, president of the Retail Industry Leaders Association in Arlington. “It remains to be seen how much of an effect it will have on spending and if it will hamper the recent progress the economy has made.”
Consumers are paying more at the pump and higher gasoline prices were partially reflected in the increase in retail sales. The price has increased about 40 cents in the last three weeks in Austin to about $3.40 per gallon. Department store sales rose 1 percent, sales at electronics and appliance stores rose 0.9 percent and sales at restaurants rose 1.2 percent. Read more: Retail sales jump in February.
Carlos Slim is world's richest man
Carlos Slim is world's richest man. The richest man in the world remains Carlos Slim, according to Forbes magazine's list of billionaires. The number of billionaires increased by 199 in the past year, according to the magazine, but it was the Mexican telecom magnate Slim, who kept the No. 1 spot for the second year by increasing his worth by $20.5 billion to $74 billion.
Microsoft Corp. co-founder Bill Gates, who is worth $56 billion, is No. 2 on the list. Investor Warren Buffet comes in at No.3 with a net worth of $50 billion.
The fastest growing net worth belongs to Facebook CEO Mark Zuckerberg, who more than tripled his wealth to $13.5 billion, putting him at the No. 52 position on the list, the magazine reported.
How Carlos Slim made his fortune?
Slim had a pretty cushy life growing up, his father became wealthy by working as a real estate salesman. After graduating with a degree in engineering from the National Autonomous University of Mexico, Slim began investing in multiple businesses throughout Mexico. Soon, these businesses became the base of his conglomerate Grupo Carso.
It turns out, the economic crash of 1982 was a good for Slim because during that time period he was able to crack into billionaire status. By using some business tactics and savvy negotiating Slim was able to purchase companies at extremely low prices and have a say in their various interests. With strong management skills Slim was able to increase their value exponentially in the next ten years.
Carlos Slim Helú made a great portion of his earnings with his ownership of Teléfonos de México or Telmex. The money earned from Telmex allowed him to broaden his scope to technology and U.S. firms. When Telmex was privatized Slim was able to strengthen the monopoly and increase his earnings. This year, Slim was reported as having a $74 billion net worth which is a $20.5 billion increase from last year.
Microsoft Corp. co-founder Bill Gates, who is worth $56 billion, is No. 2 on the list. Investor Warren Buffet comes in at No.3 with a net worth of $50 billion.
The fastest growing net worth belongs to Facebook CEO Mark Zuckerberg, who more than tripled his wealth to $13.5 billion, putting him at the No. 52 position on the list, the magazine reported.
How Carlos Slim made his fortune?
Slim had a pretty cushy life growing up, his father became wealthy by working as a real estate salesman. After graduating with a degree in engineering from the National Autonomous University of Mexico, Slim began investing in multiple businesses throughout Mexico. Soon, these businesses became the base of his conglomerate Grupo Carso.
It turns out, the economic crash of 1982 was a good for Slim because during that time period he was able to crack into billionaire status. By using some business tactics and savvy negotiating Slim was able to purchase companies at extremely low prices and have a say in their various interests. With strong management skills Slim was able to increase their value exponentially in the next ten years.
Carlos Slim Helú made a great portion of his earnings with his ownership of Teléfonos de México or Telmex. The money earned from Telmex allowed him to broaden his scope to technology and U.S. firms. When Telmex was privatized Slim was able to strengthen the monopoly and increase his earnings. This year, Slim was reported as having a $74 billion net worth which is a $20.5 billion increase from last year.
BP CEO Bob Dudley Apologises for Oil Spill
BP Chief Executive Robert Dudley inherited quite a bit of a mess from former CEO Tony Hayward, he of the loose lips, in the the form of last year's terrible oil spill in the Gulf of Mexico. But Dudley wants everyone to know that he's totally sorry.
"I am sorry for what happened last year," he told the lunch crowd at CERAweek conference in Houston today, reports Forbes. "BP is sorry. BP gets it. BP is changing."
"We are determined we will once again restore that trust and I realize this requires action, not words."
He says they've done various things like paying out billions in claims and investing in the Gulf of Mexico Research intiative, as well as independent third party verification of "blowout preventers and better testing for cement jobs, well-integrity, rig safety. The company will no longer take rigs that don't meet safety standards."
You had us at "blowout preventers," but yeah, making sure unsafe rigs are no longer floating around ready to gush tons of oil is also probably a good idea.
Dudley is going even further and creating a new group that dispatches safety specialists around the globe, which has already shut down a production platform in Azerbaijan, and another in the Gulf of Mexico for infractions that needed to be addressed before they continued to operate. He hopes that the changes BP makes will spread to others in the industry, in order to make sure no one else causes such a calamity. View full post on BP's CEO Is Super Sorry About That Oil Spill. In othernews, Alice in Chains Bassist, Mike Starr Dead at 44.
"I am sorry for what happened last year," he told the lunch crowd at CERAweek conference in Houston today, reports Forbes. "BP is sorry. BP gets it. BP is changing."
"We are determined we will once again restore that trust and I realize this requires action, not words."
He says they've done various things like paying out billions in claims and investing in the Gulf of Mexico Research intiative, as well as independent third party verification of "blowout preventers and better testing for cement jobs, well-integrity, rig safety. The company will no longer take rigs that don't meet safety standards."
You had us at "blowout preventers," but yeah, making sure unsafe rigs are no longer floating around ready to gush tons of oil is also probably a good idea.
Dudley is going even further and creating a new group that dispatches safety specialists around the globe, which has already shut down a production platform in Azerbaijan, and another in the Gulf of Mexico for infractions that needed to be addressed before they continued to operate. He hopes that the changes BP makes will spread to others in the industry, in order to make sure no one else causes such a calamity. View full post on BP's CEO Is Super Sorry About That Oil Spill. In othernews, Alice in Chains Bassist, Mike Starr Dead at 44.
What's Next For The Mobile Industry?
Metrico Wireless Inc., a leading provider of mobile device performance information and solutions, just unveiled one of the most comprehensive evaluations yet of the end user experience offered by the Verizon Wireless and AT&T Wireless versions of the iPhone 4.
How did they stack up? It depends on how the customer is using the device. For instance, the AT&T iPhone experienced double the mean data download speed of the Verizon iPhone, but the mean load time for an average Web page was about the same on both devices.
In addition, the findings showed that when the iPhone is mobile, the AT&T iPhone successfully completed around 10 percent more data download sessions than the Verizon iPhone. The results were opposite when the iPhones were stationary; the Verizon iPhone was more consistent uploading data when stationary in comparison to the AT&T iPhone, with a 10 percent better success rate.
The iPhone 4 is the latest of more than 80 smartphones evaluated to date as part of Metrico’s unique Smartphone Mobile Experience (M.E.) evaluation program. “The mobile industry is competing on performance, and anecdotal performance information isn’t good enough to drive management and marketing decisions,” said Richard McNally, VP, Information Products, Metrico Wireless. Source: The Mobile Industry is Competing on Performance.China’s Wen Targets Inflation
China’s Wen Targets Inflation. Fighting inflation is China’s top economic priority this year as the government aims to limit the risk of social unrest, Premier Wen Jiabao said in his state-of- the-nation speech. “We cannot allow price rises to affect the normal lives of low-income people,” Wen said in a report to the annual meeting of the National People’s Congress in Beijing today. “This problem concerns the people’s well-being, bears on overall interests and affects social stability.”
Wen, 68, confirmed targets of 4 percent for full-year inflation and 8 percent for economic growth, as the Communist Party seeks to maintain support for its 61-year rule. In the past two weekends, the government has deployed hundreds of police in Beijing and Shanghai after Internet calls for so- called Jasmine protests, inspired by revolts in the Middle East and North Africa.
“Inflation is a potential trigger point for social discontent,” said Liu Li-Gang, an economist at Australia & New Zealand Banking Group in Hong Kong who formerly worked for the Hong Kong Monetary Authority and the World Bank. The government needs to boost lending and deposit rates by 0.75 percentage point by year-end, as well as raising wages and giving subsidies to the poor, he said.
Wen identified illegal land seizures, food safety, “exorbitant” house-price increases and “rampant corruption” in some places as among top public concerns. The government will “decisively” counter inflation and make it the “top priority in macroeconomic control,” he said. View full post on businessweek.com.
Wen, 68, confirmed targets of 4 percent for full-year inflation and 8 percent for economic growth, as the Communist Party seeks to maintain support for its 61-year rule. In the past two weekends, the government has deployed hundreds of police in Beijing and Shanghai after Internet calls for so- called Jasmine protests, inspired by revolts in the Middle East and North Africa.
“Inflation is a potential trigger point for social discontent,” said Liu Li-Gang, an economist at Australia & New Zealand Banking Group in Hong Kong who formerly worked for the Hong Kong Monetary Authority and the World Bank. The government needs to boost lending and deposit rates by 0.75 percentage point by year-end, as well as raising wages and giving subsidies to the poor, he said.
Wen identified illegal land seizures, food safety, “exorbitant” house-price increases and “rampant corruption” in some places as among top public concerns. The government will “decisively” counter inflation and make it the “top priority in macroeconomic control,” he said. View full post on businessweek.com.
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Jobless Claims Decrease Last Week
Jobless Claims Drop. Service industries expanded in February at the fastest pace since 2005 and fewer Americans unexpectedly filed claims for jobless benefits, adding to evidence the U.S. recovery is gaining strength. The Institute for Supply Management’s index of non-manufacturing businesses increased to 59.7 last month from 59.4 in January. A reading above 50 signals growth. The number of initial applications for unemployment insurance payments fell by 20,000 to 368,000 last week, the lowest since May 2008 and fewer than the most optimistic forecast in a Bloomberg News survey, figures from the Labor Department showed.
Stocks rose as the figures supported the Federal Reserve’s assessment that the labor market is on the mend following the loss of 8.75 million positions during the recession. Brighter prospects about personal finances are bolstering consumer confidence, another report showed, increasing the odds that Americans will keep spending at stores like J.C. Penney Co. and Macy’s Inc. See more about Jobless Claims Drop.
“You’re getting a picture of an economy that is quite strong already and perhaps gathering momentum,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. “Sentiment has been picking up over the last two or three months and that stands to reason -- the stock market has done better, the economy has certainly done better, and, most importantly, the labor market is improving.” The Standard & Poor’s 500 Index rose 1.7 percent to 1,330.97 at the 4 p.m. close in New York for its biggest gain in three months. The index is up 21 percent in the past six months. Source: businessweek.com
Stocks rose as the figures supported the Federal Reserve’s assessment that the labor market is on the mend following the loss of 8.75 million positions during the recession. Brighter prospects about personal finances are bolstering consumer confidence, another report showed, increasing the odds that Americans will keep spending at stores like J.C. Penney Co. and Macy’s Inc. See more about Jobless Claims Drop.
“You’re getting a picture of an economy that is quite strong already and perhaps gathering momentum,” said Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut. “Sentiment has been picking up over the last two or three months and that stands to reason -- the stock market has done better, the economy has certainly done better, and, most importantly, the labor market is improving.” The Standard & Poor’s 500 Index rose 1.7 percent to 1,330.97 at the 4 p.m. close in New York for its biggest gain in three months. The index is up 21 percent in the past six months. Source: businessweek.com
Westboro Baptist Church can protest at military funerals
Westboro Baptist Church can protest at military funerals. The Supreme Court has handed down a decision in the Westboro Baptist Church case. The court rules, 8 – 1, that the father of a slain Marine could not sue the Westboro church for protesting during his son’s funeral.
Call it free speech 101. The hard part about the First Amendment is that you have to allow people to say all manner of annoying, vulgar, and inappropriate things at the wrong times.
Not that Justice Samuel Alito thinks so. Alito was the lone dissenter in this case. Alito was also the lone dissenter in the Stevens case — the one that overturned a ban on animal crush videos on First Amendment grounds. But he voted with the majority in Citizens United.
I can’t wait until Sam “Not True” Alito writes a book or something about exactly why regular people don’t deserve the free speech given to American corporations and sitting Supreme Court Justices. Most reasonable people agree that these Westboro people are distasteful nutjobs. But what can you do. This is America, and everybody has a right to make an ass of themselves. We can’t take away the right of people to act a fool, isn’t that right Alito?
Call it free speech 101. The hard part about the First Amendment is that you have to allow people to say all manner of annoying, vulgar, and inappropriate things at the wrong times.
Not that Justice Samuel Alito thinks so. Alito was the lone dissenter in this case. Alito was also the lone dissenter in the Stevens case — the one that overturned a ban on animal crush videos on First Amendment grounds. But he voted with the majority in Citizens United.
I can’t wait until Sam “Not True” Alito writes a book or something about exactly why regular people don’t deserve the free speech given to American corporations and sitting Supreme Court Justices. Most reasonable people agree that these Westboro people are distasteful nutjobs. But what can you do. This is America, and everybody has a right to make an ass of themselves. We can’t take away the right of people to act a fool, isn’t that right Alito?
Celebrating Darwin Day on February 12
On Saturday, February 12th people around the world observe Darwin's birthday and his theory of evolution. First celebrated in 1909, Darwin Day was celebrated occasionally throughout the 20th century, but has recently been revitalized by educators around the world. This year alone there are over 500 planned public events are listed at DarwinDay.org, with gatherings hosted internationally and in all fifty states. Events range from small, low-key dinners to educational seminars designed to inform the young and old about Darwin's impact on our everyday life. And for the first time, Rep. Pete Stark of California proposed a resolution on the floor of the House of Representatives that "recognizes Charles Darwin as a worthy symbol on which to celebrate the achievements of reason, science, and the advancement of human knowledge."
While holidays are meant for fun and celebration, an annual event like Darwin Day is important in today's educational climate. As a national holiday, it trumpets not only the achievements of its namesake, but the accomplishments of the scientific community as a whole. Darwin's discoveries greatly advanced the human understanding of fields as various as genetics to epidemiology and his example is one worth emulating and celebrating.
Some celebrants also combine Darwin Day with a celebration of Abraham Lincoln, who was also born on February 12, 1809. Still others like to celebrate the many noted individuals that influenced or were influenced by Darwin's work, such as Thomas H. Huxley, Charles Lyell, Alfred Russel Wallace, Carl Sagan, and Ernst Mayr. Celebrating Darwin Day on February 12.
While holidays are meant for fun and celebration, an annual event like Darwin Day is important in today's educational climate. As a national holiday, it trumpets not only the achievements of its namesake, but the accomplishments of the scientific community as a whole. Darwin's discoveries greatly advanced the human understanding of fields as various as genetics to epidemiology and his example is one worth emulating and celebrating.
Some celebrants also combine Darwin Day with a celebration of Abraham Lincoln, who was also born on February 12, 1809. Still others like to celebrate the many noted individuals that influenced or were influenced by Darwin's work, such as Thomas H. Huxley, Charles Lyell, Alfred Russel Wallace, Carl Sagan, and Ernst Mayr. Celebrating Darwin Day on February 12.
The Biggest Challenge in 2011
There is a Community Track, the main contest open to all South Florida residents, an FIU Track for students and alumni of that university, and a High School Track for grades 9-12. You do not need to have your business up and running to enter, but if you do, it can not be more than two years old. Each contest has its own set of prestigious judges. We have investors, executives, educators, consultants, bankers and small business loan specialists — most are entrepreneurs themselves, many of them several times over.
The judges will be looking for whether the business fills a real need in the marketplace, what value it brings to the customer, what sets it apart from the competition and its potential for expansion. They also want to see how you plan to market your product, your financial projections and how you intend to fund your startup costs. Make sure to make clear why you have the expertise to lead such a company and the expertise of your management team.
Yes, all this in three pages or less. Think of it as a meaty executive summary — just the highlights of what you would put in a full business plan. Contest Rules are on www.MiamiHerald.com/Challenge.
Judges will select the top three winners in each track, and the overall top-rated plan will be declared Challenge Champion. The top six finalists in the Community and FIU Tracks will also compete in the People’s Pick video contest, which last year drew more than 15,000 votes and even more page views. That’s great exposure for entrepreneurs. The winners, including the People’s Picks, will be profiled in a Business Monday cover story and are honored at a banquet, where they can meet and mingle with the judges.
The judges will be looking for whether the business fills a real need in the marketplace, what value it brings to the customer, what sets it apart from the competition and its potential for expansion. They also want to see how you plan to market your product, your financial projections and how you intend to fund your startup costs. Make sure to make clear why you have the expertise to lead such a company and the expertise of your management team.
Yes, all this in three pages or less. Think of it as a meaty executive summary — just the highlights of what you would put in a full business plan. Contest Rules are on www.MiamiHerald.com/Challenge.
Judges will select the top three winners in each track, and the overall top-rated plan will be declared Challenge Champion. The top six finalists in the Community and FIU Tracks will also compete in the People’s Pick video contest, which last year drew more than 15,000 votes and even more page views. That’s great exposure for entrepreneurs. The winners, including the People’s Picks, will be profiled in a Business Monday cover story and are honored at a banquet, where they can meet and mingle with the judges.
Small Business Confidence in Canada
The CFIB’s Business Barometer hit 69.3 in December, an increase from 64 in the previous month and the biggest month-over-month gain in 17 months. A gauge of confidence among small business owners hit a nine-month high in December, the Canadian Federation of Independent Business reported Wednesday — a sign, it says, that entrepreneurs believe the economy is finding “firmer footing” after stumbling into a soft patch in mid-2010.
Confidence among small business owners improved in 10 of 13 sectors through the month of December, compared to a month earlier. And while December is generally associated with improved retail results, the CFIB said the biggest improvements were recorded in manufacturing; natural resources; financial services, mostly real estate and insurance; and construction.
If there was one drawback, the survey indicated just 14% of business owners plan to add to full-time staff levels in the next three to four months, while another 14% plan to cut back. Meanwhile, 17% of businesses surveyed indicated they would cut back on part-time employment, with 70% maintaining present levels.
Jonathan Basile, economist at Credit Suisse, said the 69.3 reading in December is consistent with about 3% annualized GDP growth, and the fourth-quarter average of 66.7 corresponds to about 2.5% annualized growth over time — or better than the 1% expansion reported in the third quarter. An index level above 50 means owners expecting their businesses to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 75 when the economy is growing. The December 2010 findings are based on 825 responses through a Web-based survey, and the findings are said to be statistically accurate to plus-or-minute 3.4 percentage points 19 times in 20. Read more: http://www.financialpost.com/
Confidence among small business owners improved in 10 of 13 sectors through the month of December, compared to a month earlier. And while December is generally associated with improved retail results, the CFIB said the biggest improvements were recorded in manufacturing; natural resources; financial services, mostly real estate and insurance; and construction.
If there was one drawback, the survey indicated just 14% of business owners plan to add to full-time staff levels in the next three to four months, while another 14% plan to cut back. Meanwhile, 17% of businesses surveyed indicated they would cut back on part-time employment, with 70% maintaining present levels.
Jonathan Basile, economist at Credit Suisse, said the 69.3 reading in December is consistent with about 3% annualized GDP growth, and the fourth-quarter average of 66.7 corresponds to about 2.5% annualized growth over time — or better than the 1% expansion reported in the third quarter. An index level above 50 means owners expecting their businesses to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 75 when the economy is growing. The December 2010 findings are based on 825 responses through a Web-based survey, and the findings are said to be statistically accurate to plus-or-minute 3.4 percentage points 19 times in 20. Read more: http://www.financialpost.com/
world food prices rising fast
World food prices continued to rise sharply in December, bringing them close to the crisis levels that provoked shortages and riots in poor countries three years ago, according to newly released United Nations data. Prices are expected to remain high this year, prompting concern that the world may be approaching another crisis, although economists cautioned that many factors, like adequate stockpiles of key grains, could prevent a serious problem.
The United Nations data measures commodity prices on the world export market. Those are generally far removed from supermarket prices in wealthy countries like the United States. In this country, food price inflation has been relatively tame, and prices are forecast to rise only 2 percent to 3 percent this year.
But the situation is often different in poor countries that rely more heavily on imports. The food price index of the United Nations Food and Agriculture Organization rose 32 percent from June to December, according to the report published Wednesday. In December, the index was slightly higher than it was in June 2008, its previous peak. The index is not adjusted for inflation, however, making an exact comparison over time difficult.
The global index was pushed up last year by rising prices for cooking oils, grains, sugar and meat, all of which could continue to remain high or rise.
"We are at a very high level," said Abdolreza Abbassian, an economist for the organization, which is based in Rome. "These levels in the previous episode led to problems and riots across the world." Abbassian said that bad weather affecting commodity crops in many exporting countries might help keep prices high over the next several months. Source: http://seattletimes.nwsource.com/
The United Nations data measures commodity prices on the world export market. Those are generally far removed from supermarket prices in wealthy countries like the United States. In this country, food price inflation has been relatively tame, and prices are forecast to rise only 2 percent to 3 percent this year.
But the situation is often different in poor countries that rely more heavily on imports. The food price index of the United Nations Food and Agriculture Organization rose 32 percent from June to December, according to the report published Wednesday. In December, the index was slightly higher than it was in June 2008, its previous peak. The index is not adjusted for inflation, however, making an exact comparison over time difficult.
The global index was pushed up last year by rising prices for cooking oils, grains, sugar and meat, all of which could continue to remain high or rise.
"We are at a very high level," said Abdolreza Abbassian, an economist for the organization, which is based in Rome. "These levels in the previous episode led to problems and riots across the world." Abbassian said that bad weather affecting commodity crops in many exporting countries might help keep prices high over the next several months. Source: http://seattletimes.nwsource.com/
The Lauren Conrad Complete Business Plan
Lauren Conrad hopes that her new upcoming reality show will feed off her new businesses as well as feed off the show, a very crucial step for Lauren to take. Lauren’s ultimate goal is that her new ventures become a big, natural brand where Lauren won’t need to have cameras in front of her constantly, or cancel her show in other words.
Lauren’s fame started way back on Laguna Beach followed by The Hills where it’s made her a well-known brand to the millennial generation, with top-selling books and top sales at Kohl’s.
Being a good girl with relationship saga is what made Lauren Conrad a success on MTV without relying on sex-tapes and being friends with someone famous.
The Hills success had its’ drawbacks according to Lauren where she wasn’t seeing ancillary revenue from the show, or getting proper promotion of her original Lauren Conrad Collection, or Adam DiVello’s decision to edit out how The Hills success affected her life ultimately leading her to leave the show in 2009. Read more on The Lauren Conrad Business Plan. You can see another top news such as Paramore Start Work On New Album and Vanessa Hudgens is a Skin Care Sweetie.
Lauren’s fame started way back on Laguna Beach followed by The Hills where it’s made her a well-known brand to the millennial generation, with top-selling books and top sales at Kohl’s.
Being a good girl with relationship saga is what made Lauren Conrad a success on MTV without relying on sex-tapes and being friends with someone famous.
The Hills success had its’ drawbacks according to Lauren where she wasn’t seeing ancillary revenue from the show, or getting proper promotion of her original Lauren Conrad Collection, or Adam DiVello’s decision to edit out how The Hills success affected her life ultimately leading her to leave the show in 2009. Read more on The Lauren Conrad Business Plan. You can see another top news such as Paramore Start Work On New Album and Vanessa Hudgens is a Skin Care Sweetie.
The Complaints About Auto Defects Increased Sharply
Driver complaints to federal highway safety regulators soared this year, spurred by a slew of Toyota Motor Corp. recalls and a rush by other automakers to announce fix-it campaigns that focused the public's attention on auto defects. The National Highway Traffic Safety Administration received more than 40,000 complaints through Dec. 14, according to an analysis by automotive research firm Edmunds.com. That's four times the volume of recent years.
"People are now more aware that there is an agency called NHTSA and that you can complain to it. Complaints are a good thing," said Clarence Ditlow, executive director of the Center for Auto Safety. Toyota, long considered one of the most reliable brands, was the subject of more than a quarter of the complaints. Its ratio of complaints to 100,000 vehicles sold jumped to nearly 87 so far in 2010 from 37 a year earlier. This month Toyota agreed to pay $32.4 million in fines for failing to promptly inform regulators of defects in its vehicles, instead allowing millions of potentially dangerous vehicles to remain on the nation's roads.
Nissan Motor Co. had the second-worst ratio, at nearly 62 complaints per 100,000 vehicles sold; Volkswagen was third at nearly 58. The industry average was 47 complaints per 100,000 vehicles sold, up from fewer than 30 in 2009.
NHTSA is hearing from people such as Mark Cox of Leesburg, Va. He filed a complaint after his 2003 Subaru Legacy sedan and his 2004 Nissan Quest minivan failed routine state safety inspections because of clouded headlight lenses.
"They start to oxidize, and that reduces the amount of light that is transmitted out of your headlights. That is a safety and durability issue," Cox said, adding that he learned to file the complaints while reading about the Toyota auto defects issues.
"Maybe as more people bring these issues to light, and NHTSA looks at them, some of these problems will get fixed," Cox said. He still hasn't heard back from the agency, though. Nor has Hisham Alam of Huntington Beach, Calif., who filed a complaint with NHTSA this year after the engine in his 2002 Toyota Highlander froze. "The engine loosened from its bolts, breaking the head gasket and causing the oil and coolant to spill out," Alam said. "The dealer said it would cost $7,500 to fix." He found similar Toyota complaints on the NHTSA site and decided to file his own in October. He wound up paying $2,500 to an independent mechanic to rebuild the engine. Source: chicagotribune.com
"People are now more aware that there is an agency called NHTSA and that you can complain to it. Complaints are a good thing," said Clarence Ditlow, executive director of the Center for Auto Safety. Toyota, long considered one of the most reliable brands, was the subject of more than a quarter of the complaints. Its ratio of complaints to 100,000 vehicles sold jumped to nearly 87 so far in 2010 from 37 a year earlier. This month Toyota agreed to pay $32.4 million in fines for failing to promptly inform regulators of defects in its vehicles, instead allowing millions of potentially dangerous vehicles to remain on the nation's roads.
Nissan Motor Co. had the second-worst ratio, at nearly 62 complaints per 100,000 vehicles sold; Volkswagen was third at nearly 58. The industry average was 47 complaints per 100,000 vehicles sold, up from fewer than 30 in 2009.
NHTSA is hearing from people such as Mark Cox of Leesburg, Va. He filed a complaint after his 2003 Subaru Legacy sedan and his 2004 Nissan Quest minivan failed routine state safety inspections because of clouded headlight lenses.
"They start to oxidize, and that reduces the amount of light that is transmitted out of your headlights. That is a safety and durability issue," Cox said, adding that he learned to file the complaints while reading about the Toyota auto defects issues.
"Maybe as more people bring these issues to light, and NHTSA looks at them, some of these problems will get fixed," Cox said. He still hasn't heard back from the agency, though. Nor has Hisham Alam of Huntington Beach, Calif., who filed a complaint with NHTSA this year after the engine in his 2002 Toyota Highlander froze. "The engine loosened from its bolts, breaking the head gasket and causing the oil and coolant to spill out," Alam said. "The dealer said it would cost $7,500 to fix." He found similar Toyota complaints on the NHTSA site and decided to file his own in October. He wound up paying $2,500 to an independent mechanic to rebuild the engine. Source: chicagotribune.com
the 66 safest vehicles for 2011
The number of cars and trucks awarded top safety honors by the Insurance Institute for Highway Safety more than doubled for 2011, with 66 vehicles cited as best for protecting occupants in front, side, rollover and rear crashes.
The Virginia-based industry-supported group, which prods automakers to improve the safety of vehicles, announced its Top Safety Picks for 2011 late Tuesday, honoring 40 cars, 25 SUVs and one minivan. Among automakers, Volkswagen AG and Hyundai Motor Corp. and its Kia unit had the most vehicles honored — nine. Only 27 vehicles qualified for last year's award, after the group toughened its standards in 2009, requiring automakers to do more to strengthen vehicle roofs and protect occupants during rollover crashes. Read more on Insurance Institute.
The Virginia-based industry-supported group, which prods automakers to improve the safety of vehicles, announced its Top Safety Picks for 2011 late Tuesday, honoring 40 cars, 25 SUVs and one minivan. Among automakers, Volkswagen AG and Hyundai Motor Corp. and its Kia unit had the most vehicles honored — nine. Only 27 vehicles qualified for last year's award, after the group toughened its standards in 2009, requiring automakers to do more to strengthen vehicle roofs and protect occupants during rollover crashes. Read more on Insurance Institute.
U.S. small businesses loans increased
Good news for small businesses means good news for business, in general. CNBC reports that U.S. small businesses loans increased in the month of September. According to data released by PayNet, the increase in small business borrowing came sooner than expected. The Thomson Reuters/PayNet index measures the overall volume of financing to U.S. small businesses to determine the 16% jump from last year.
PayNet president William Phelan tells CNBC that the small business loan jump "doesn't point to anything but a robust recovery. These small businesses are people who see the demand in the economy every day, and they are alert to react very quickly to that demand."
Many are hoping that the small business loan jump in borrowing will translate to an increase in jobs. CNBC adds that many of the small business loans are used to buy new equipment. The next logical step would be to hire new workers to work the equipment. CNBC adds that nearly one in every ten U.S. workers is currently unemployed.
Banks and other lenders are often cautious when making loans to small businesses out of concern that the venture will fail, and they will not get their funds back. To combat this concern, banks are much more willing to loan to an already-existing company with cash flow. Hopefully this concern will not serve to stifle this positive upward trend that is happening with small business loans. FindLaw has some helpful suggestions for existing and new businesses looking to get a loan: clean up your credit report, write a business plan, apply for the right type of loan, and state the purpose for using the money.
PayNet president William Phelan tells CNBC that the small business loan jump "doesn't point to anything but a robust recovery. These small businesses are people who see the demand in the economy every day, and they are alert to react very quickly to that demand."
Many are hoping that the small business loan jump in borrowing will translate to an increase in jobs. CNBC adds that many of the small business loans are used to buy new equipment. The next logical step would be to hire new workers to work the equipment. CNBC adds that nearly one in every ten U.S. workers is currently unemployed.
Banks and other lenders are often cautious when making loans to small businesses out of concern that the venture will fail, and they will not get their funds back. To combat this concern, banks are much more willing to loan to an already-existing company with cash flow. Hopefully this concern will not serve to stifle this positive upward trend that is happening with small business loans. FindLaw has some helpful suggestions for existing and new businesses looking to get a loan: clean up your credit report, write a business plan, apply for the right type of loan, and state the purpose for using the money.
Business Unusual Could be the Future of Wool
Federated Farmers believes the future of wool will come from turning consumers away from oil-based products by developing breathtaking innovative new uses for wool. Business unusual is the future of wool. Federated Farmers believes the future of wool will come from turning consumers away from oil-based products by developing breathtaking innovative new uses for wool.
“Federated Farmers believes business unusual could be the future of wool,” says Bruce Wills, Federated Farmers Meat & Fibre chairperson. “What it also shows is that instead of hanging on to the apron strings of the past, as the wool levy locked us into, we have to create our own future business.
“We see a glimpse of that future in Wellington based textile designers, The Formary, creating WoJo. This revolutionary fabric comprises 70 percent strong and mid-micron wools from Wools of New Zealand, with 30 percent jute, recycled from the Starbucks’ own coffee sacks.
“It’s an inspiring twist on the adage of something new and something old.
“While the initial focus of WoJo is upholstering Starbucks’ 8,000 stores outside of the United States, The Formary has really created a whole new ecologically friendly fabric.
“With the manufacturing partnership with Yorkshire-based Camira, we have a genuine opportunity to get wool back into people’s minds for their homes, offices, schools and even public transport. Not just here but right around the globe.
“It’s easy to overlook the nearly $600 million that wool generates each year for New Zealand. Yet we feel the potential is more than five times that sum, if, and that’s the key word, we can spark wool’s renaissance.
“The Formary’s commitment to wool shows it is possible and we believe New Zealand Trade and Enterprise can see the vast potential that wool has.
“It’s this kind of joined-up approach to market and product development with the exporters, that will make consumers take that all-important second look at wool.
“WoJo is a triumphant Kiwi contribution to London’s Wool Week, which is part of HRH Prince Charles’ Campaign for Wool and is being supported by the New Zealand Council of Wool Interests.
“The Formary is in London to accept the Campaign’s Sustainable Innovation Award. As part of London’s Wool Week, Selfridges have sent two flocks of yellow sheep down Oxford Street while Savile Row closed for a day to become a farm, with two farmers decked out in Anderson & Sheppard bespoke wool suits.
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