Monthly Archives: March 2015

Wal-Mart just told a bold stand asking Arkansas’ governor to veto a controversial ‘religious freedom’ law

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

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(REUTERS/Rick Wilking)

Wal-Mart just took a big stand against a controversial law set for passage in Arkansas.  

On Tuesday, the Arkansas House of Representatives passed a controversial “religious freedom” bill similar to one recently approved in Indiana, which has ignited a firestorm of criticism. 

According to the Associated Press, Arkansas governor Asa Hutchinson has indicated that he will pass the bill, and the state’s most powerful employer — Wal-Mart — has come out against Hutchinson’s plan. 

In a statement on Tuesday night, Wal-Mart CEO Doug McMillon said:

“Every day, in our stores, we see firsthand the benefits diversity and inclusion have on our associates, customers and communities we serve. It all starts with our core basic belief of respect for the individual.

Today’s passage of HB1228 threatens to undermine the spirit of inclusion present throughout the state of Arkansas and does not reflect the values we proudly uphold. For these reasons, we are asking Governor Hutchinson to veto this legislation.”

McMillon’s comments come after Indiana has been taking a beating from business leaders, politicians, and celebrities after the passage of its own bill last week. 

The most notable opponent of Indiana’s law, and others like it that have been proposed across the country, was Apple CEO Tim Cook, who wrote an op-ed in The Washington Post on Sunday night that said, “There’s something very dangerous happening in states across the country.”

Cook, who came out as gay in October 2014, wrote: 

Our message, to people around the country and around the world, is this: Apple is open. Open to everyone, regardless of where they come from, what they look like, how they worship or who they love. Regardless of what the law might allow in Indiana or Arkansas, we will never tolerate discrimination 

This isn’t a political issue. It isn’t a religious issue. This is about how we treat each other as human beings. Opposing discrimination takes courage. With the lives and dignity of so many people at stake, it’s time for all of us to be courageous.

In a news conference on Tuesday, Indiana governor Mike Pence blamed “reckless” reporting for the firestorm that has been ignited around the state’s religious freedom bill. “This law does not create a license to discriminate. And this law does not give businesses a right to deny services to anyone,” Pence said.

NOW WATCH: 9 Incredible Facts About Wal-Mart

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You Are Not Doing Enough To Promote Women In Green Tech

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

When crash-test dummies first became mandatory for testing a car’s safety in 1973, they were made to represent the height and weight of an average American guy. Dummies to represent women didn’t become mandatory until 2011.  In between, research showed that women who wore seat belts were 47% more likely to be seriously injured than men in similar accidents. It should come as no surprise that early airbag designs suited men, not women (or children).

When engineers first begin to design voice recognition systems for cars, they also forgot to make sure that the computers could recognize a woman’s voice. That led an anecdote of a woman who tried to program a voice-activated phone system for OnStar and was then told by an OnStar representative that she needed to get a man to set it up for her.

It’s not just automakers who have a history of ignoring women when it comes to engineering products. This story about how Apple continues to leave out a function in its heath app that many women would want is a good example.

Damn it, I can't find photos of women engineers in my own archive.

Damn it, I can’t find photos of women engineers in my own archive.

One way to prevent that oversight is to get more women involved in science and engineering. That makes sense, right? When you design a product, you need to make it user friendly. Unless you are creating something for men only, then you should consider how men and women might use it differently. Having women on the engineering team helps to spotlight gender differences and create solutions to account for them.

The issue isn’t just about product designs. It’s also about making more use of the perspectives and experiences that women offer to create better technology and improve lives. We need that diversity to solve some of the toughest problems that humans face today, such as adapting to a changing climate.

Unfortunately, women are woefully underrepresented in technology. A report by the American Association of University Women, released last week, showed that women made up only 12 of the engineers in the country by 2013.  Women accounted for over a quarter of the workers in computer science in 2013, and that fell from over a third in 1990.

The report highlighted the challenges of attracting women to the technology field and proposed solutions, which are also nicely summed up as a top 10 list in this blog post on the association’s website. The recommendations range from encouraging little girls to pursue math and science to advising executives on ways to remove gender bias from the hiring and management practices.

Yes, encouraging women to become engineers and computer scientists and staying in those fields will take a lot of work. Often, the challenges of accomplishing that goal involve biases against women or harbored by women themselves.

Bias against women in the workplace often manifests itself subconsciously and in both men and women. In a study that asked both male and female science and engineering professors across the country to review a resume that had either a woman’s or a man’s name on top (everything else was the same), the professors not only thought the male job candidate was more competent, they also recommended a higher salary for him.

The bias also doesn’t only happen in male-dominated industry such tech. A report published last week showed that male nurses make $5,100 more on average per year than female nurses in similar positions.

Interestingly, women have shown to prefer jobs in which they can help people and work as part of a team. But many of them perceive engineering and computing work as “unengaged with societal and community concerns and involving little contact with other people,” the report said.

That perception is far from reality, of course. Increasingly, we are counting on technology to help us manage our energy and water resources, create alternatives to polluting energy sources and otherwise reduce our carbon footprint. Coming up with innovative technology requires teamwork.

Promoting women in the engineering and computing science fields also requires team work. From both men and women. The more we highlight the disparity and try to eliminate it, the more likely we will succeed. So do your part.






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U.S. corporations pressure two states accused of curbing gay rights

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

(Adds Wal-Mart comment, legal analyst)

* Wal-Mart demands Arkansas governor to veto new law

* Indiana governor vows to ‘fix’ his state’s new law

By Fiona Ortiz

March 31 (Reuters) – Arkansas lawmakers passed a Religious Freedom Restoration Act on Tuesday that critics said would allow businesses to deny service to gays and lesbians, drawing a swift demand from Wal-Mart Stores Inc for the governor to veto the bill.

Arkansas followed Indiana, which passed a similar act last week. They are the first to do so since same-sex marriage became legal in many states last year. Corporations have criticized the measures.

At present 37 of the 50 states and the District of Columbia permit gay marriage.

The world’s biggest retailer, Wal-Mart, based in Bentonville, Ark., issued a statement saying the Arkansas bill threatened to undermine “the spirit of inclusion” in the state and “does not reflect the values we proudly uphold.”

Signed by Doug McMillon, chief executive officer, the statement asked Republican Governor Asa Hutchinson to veto the legislation.

Indiana’s Republican Governor Mike Pence, responding to national outrage over his signing of his state’s law last week, vowed earlier on Tuesday to “fix” the act so that businesses could not use the law to deny services to same-sex couples.

COMPANIES, GOVERNORS ACT

Some of the most powerful U.S. companies, including Apple , Angie’s List, diesel engine-maker Cummins Inc, Salesforce Marketing Cloud and drug-maker Eli Lilly and Co , had called on Pence to clarify or repeal the law, which passed with an overwhelming majority in the state’s legislature.

Democratic governors, joined by New York Governor Andrew Cuomo on Tuesday, banned official state business travel to Indiana. Auto racing company NASCAR and the Indianapolis-based NCAA, an organization for university athletic programs, voiced concern over the law.

At a news conference Pence said the law protected people of all faiths from being forced by the government to go against their beliefs. The lawyer and one-time radio talk-show host repeatedly denied that the intent of the law was to allow discrimination.

Critics said Indiana’s law as it is now written would allow businesses to deny services such as wedding cakes or wedding music for gay marriages on religious grounds.

Pence found support from conservatives including Republican presidential hopeful Ted Cruz and possible presidential contenders Jeb Bush and Marco Rubio, who praised the law.

Supporters have said the acts do not allow for discrimination and are needed to protect religious freedoms.

But critics contend they are part of a broader effort by Republican-dominated statehouses in socially conservative states to push back against a series of U.S. court decisions allowing same-sex marriage.

Pence said the law he signed last week had been unfairly “smeared” and called on the Republican-controlled General Assembly to come up with clarifications this week.

SUPREME COURT CASE

The U.S. Supreme Court is expected to decide by the end of June whether the U.S. Constitution protects a right to same-sex marriage, and if it does not, whether states that ban it must recognize marriages performed in states permitting such unions.

“What’s happened is that with same-sex marriage on the horizon, the individuals and the believers who do not want to support same-sex marriage are looking to a formula in RFRAs to allow them to avoid same-sex marriage in the market place,” said Marci Hamilton, law professor at Yeshiva University’s Benjamin N. Cardozo Law School and an opponent of RFRAs.

Arkansas’ RFRA also allows religious discrimination lawsuits between private parties, and goes a step further in that it would bar employees from invoking religious freedom in suing employers, Hamilton said.

Lori Windham, senior counsel with the Becket Fund for Religious Liberty, which has brought RFRA cases on behalf of people of different faiths, said the clarification should not be necessary.

“It should already be clear that these laws require courts to balance religious freedom against other interests. They don’t mean religion always wins, they mean that religious people have their day in court,” she said.

(Reporting by Mary Wisniewski and Suzannah Gonzales in Chicago, Jon Herskovitz in Austin, Texas, Steve Barnes in Little Rock, Emily Stephenson and Susan Heavey in Washington. and Colleen Jenkins in Winston-Salem, North Carolina; Writing by Fiona Ortiz and Jon Herskovitz; Editing by James Dalgleish and Howard Goller)

  • Company Legal & Law Matters
  • Mike Pence
  • Wal-Mart
  • gay marriage
  • Arkansas






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Republican economic veterans, Hubbard and Warsh, advising Jeb Bush -sources

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(Adds Washington Post report on nonprofit group, paragraphs 11-14)

By Steve Holland, Anna Yukhananov and Lauren Tara LaCapra

WASHINGTON/NEW YORK, March 31 (Reuters) – Glenn Hubbard and Kevin Warsh, veteran Republican economic policymakers and critics of the Fed’s ultra-loose monetary policy, have emerged as top economic advisers to likely presidential candidate Jeb Bush, Republican sources said on Tuesday.

Hubbard, who served as the top White House economist for former President George W. Bush, was one of the architects of Bush’s tax cuts. Hubbard also advised Mitt Romney in his 2012 bid for the presidency and together with Warsh was mooted as a possible Treasury secretary if Romney made it to the White House.

Hubbard, dean of the business school at Columbia University, has close ties to financial companies, including insurer Metlife Inc and BlackRock Inc, the world’s largest money manager.

Warsh served on the Federal Reserve’s Board of Governors during the Bush years.

Jeb Bush has been weighing a presidential bid and is expected to make a formal announcement within the coming months.

Two Republicans familiar with the matter confirmed the roles of Hubbard and Warsh. A Bush spokeswoman was not immediately available to comment.

Hubbard, in an emailed statement, would not confirm the connection with Bush, saying he was willing to discuss economic policies with any presidential contender, including Democrat Hillary Clinton.

“I think Governor Bush would be an excellent president, with his focus on economic growth, work, and opportunity. I would be happy to talk with any candidate about economic ideas – including Secretary Clinton,” he said.

Warsh was not immediately available to comment.

Bill Simon, a former Wal-Mart chief executive who served on Bush’s team when he was governor of Florida, is assembling policy experts for his prospective candidacy, Republican sources said.

The Washington Post reported on Tuesday that Simon set up a nonprofit group called Right to Rise Policy Solutions Inc in Arkansas in February “to highlight conservative policies that will restore economic and social mobility in America.”

In an email to the Post, Simon also said the organization “will be engaged in policy generation that is consistent with Governor Bush’s optimistic, conservative message and vision for the future of America.”

The Post said the group could collect unlimited funds in secret, unlike Super PACs or Political Action Committees, which must name their donors.

It quoted Simon as saying the group would “comply with all applicable IRS regulations.” While it can accept unlimited donations, he added the nonprofit “is a policy group. Not a political or fundraising group.”

ECONOMIC SOLUTIONS

Jeb Bush laid out his economic vision in February, saying he wanted to close the “opportunity gap,” and reduce income inequality with solutions that do not rely heavily on government.

Hubbard has also called for less government. He has described President Barack Obama’s signature healthcare law as a job killer and opposes Democratic proposals to raise the minimum wage.

He has advocated corporate and individual income tax cuts and shifting toward consumption taxes. He also favors expanded tax credits for the working poor.

Hubbard has kept his Rolodex up to date since leaving government, inviting corporate executives and economic policy experts to events and lectures at Columbia, according to a former colleague in the Bush administration.

But he has also come under fire for his close ties to the financial world.

In the 2010 documentary “Inside Job,” filmmaker Charles Ferguson questioned him about his relationships with big banks including his involvement with Goldman Sachs Group Inc’s Global Markets Institute while serving as dean of the business school.

He was also a researcher and expert witness in 2012 for subprime mortgage lender Countrywide Inc in a lawsuit over toxic mortgage securities.

The criticism prompted Columbia to change its policy to require business school professors to publicly disclose outside activities that could pose a conflict.

Hubbard’s biography on Columbia’s web site lists him as a member of the boards of directors for Metlife Inc and payroll company Automatic Data Processing Inc, as well as the board of BlackRock Inc’s closed-end fund business, earning him, according to SEC filings, over half a million dollars in recent years.

INFLATION HAWK

During his tenure at the Federal Reserve, Warsh worked closely with then-Chairman Ben Bernanke battling the 2007-2009 financial crisis, serving as a conduit for communications with Wall Street firms.

Warsh has criticized the Fed’s aggressive monetary easing, and has said he was worried about the risk of a financial bubble.

“The Fed has been spoiling financial markets since the depths of the financial crisis,” he told CNBC on Tuesday.

But Warsh disagrees with Republicans who have called for greater congressional oversight of the Fed’s monetary policy decision-making.

For his part, Hubbard has said the Fed’s initial bond buying helped stabilize the U.S. economy after the financial crisis, but later on the securities purchases failed to do much to lift the economy and posed too many risks.

Warsh was among the Fed’s richest top officials when he joined it in 2006. Financial disclosures released in 2010 stated that as of the previous year, his wife Jane Lauder, granddaughter of the founder of the Estee Lauder cosmetics company, had assets worth at least $66.3 million. Warsh listed assets worth between $702,000 and $1.5 million.

(Additional reporting by Howard Schneider and Eric Walsh in Washington; Editing by Tomasz Janowski and Peter Cooney)

  • Kevin Warsh
  • Jeb Bush
  • President George W. Bush
  • Mitt Romney
  • Bill Simon
  • BlackRock Inc

 





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Warren Buffett, Oracle Of Omaha, Can Also Address Gasoline Alley

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My 2014 Best Performers, Looking Ahead To 2015

5 Value Growth Stocks I Am Buying Now

NEW YORK — It’s no wonder people come from near and far to hang on every word when Warren Buffett of Berkshire Hathaway makes an appearance, as he did today at the Automotive Forum, co-sponsored by the National Automobile Dealers Association and J.D. Power and Associates.

He’s just so darn quotable.

Buffett and his new partner, Larry Van Tuyl of the former Van Tuyl Group, talked about Buffett’s recent acquisition of the privately held auto dealership group. The acquisition made Buffett the fourth-biggest auto dealer in the United States.

Becky Quick, CNBC “Squawk Box” co-host, also moderated an audience question-and-answer. Quick also asked a lot of questions of her own. She steered Buffett into other, far-ranging topics, from fiscal policy to the proliferation of nuclear weapons.

POWER LUNCH– Pictured: Warren Buffett, CEO of Berkshire Hathaway and one of the world’s wealthiest people, in an interview on March 31, 2015 — (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images)

Below are just some of today’s quotable quotes from “The Oracle of Omaha”:

Quick asked, when did Buffett start thinking about getting into the car business?

“I think about owning everything,” he said, prompting a big laugh from the audience. “I’ve subscribed to Automotive News since I was in my teens … It was the right time (to buy the Van Tuyl Group), the right company, and the right price. It was very easy to agree on a deal.” Buffett said he’s not worried his interest in auto dealerships will drive up asking prices to acquire more dealerships.

“The prices are fairly well established. … We’re not talking about something where you can just dream this or that. You can look at an operation, and … in most cases you can guess within 5 or 10 percent what a dealership is going to be (priced at). Whether you buy it or not, that’s a different question.”

Buffett, 84, reiterated that he invests for the long, long haul.

“We’re buying for forever. I wouldn’t pay more in a 17 million year (in U.S. auto sales) than in a 10 million year. I don’t buy for a year, or a month, or a day’s worth of earnings,” he said.

“… Over the next 100 years — and I may not be around for all of those – I know there will be a number of terrific years, a few good years and some terrible years. I want to play a golf course that’s all par threes, but there are always a few par fives out there. The important thing is to play the hole well, and that’s what we’re trying to do.”

Buffett said he doesn’t micromanage; he intends to let Van Tuyl Group management keep running the new Berkshire Hathaway Automotive.

“We own all kinds of businesses. We own a railroad. I don’t know where they buy their diesel fuel. I’m not sure what diesel fuel is.”

Buffett said that a year ago, it took GM CEO Mary Barra just six minutes to sell him a new Cadillac. “We were going to go to lunch. We got into my 2006 Cadillac – it only had about 20,000 miles on it. She only had six minutes, and she made the most of them. I’ve got a new one now.”






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Daily Roundup: MacBook Pro review, the new Surface 3 and more!

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

April Fools’ Day is nearly upon us and now’s your chance to get caught up on the last bit of serious news before the internet gets crazy. First up, we review Apple’s refreshed MacBook Pro with Retina display and find out if the Force Touch trackpad is everything we’ve hoped and dreamed. Meanwhile, Microsoft announces the Surface 3 running Windows 8.1 and Google comes up with a new way to put Chrome OS on your television. Head past the break for the details on these stories and more.

MacBook Pro with Retina display review (13-inch, 2015)

Nope, it’s not the new MacBook. That review will need to wait until next month. What we have here is the 13-inch MacBook Pro with Retina display. For all intents and purposes, it’s the same one we last tested in late 2013, except for one important thing: It swaps out the old trackpad in favor of a pressure-sensitive “Force Touch” pad that responds differently depending on how hard you bear down on it.

Microsoft’s new Surface 3 tablet runs full Windows, not RT

How many times have we said that the Surface would be great, if not for its OS? The truth is, the Surface RT and Surface 2 were lovely, well-crafted things, with great screens, solid build quality and long battery life. We just wished they could run the full gamut of desktop programs, in part to make up for a limited selection of Windows Store apps. Well, it seems Microsoft has finally reversed course. The company just unveiled the Surface 3 and, as rumored, it comes loaded with full Windows 8.1.

Google puts Chrome OS on your TV with its own HDMI stick

Google has unveiled a whole new type of Chrome device, and it’s one that can fit in your pocket. It’s called the Chromebit, and it’s essentially a Chromebook crammed in a dongle. This tiny little package contains a Rockchip 3288 SoC, 2GB of RAM, 16GB of eMMC memory, a USB 2.0 port, WiFi 802.11 ac support, Bluetooth 4.0, a Smart Ready controller and an ARM Mali 760 quad-core GPU.

‘Un Chien Andalou’ inspires a surreal indie game from Russian devs

In 1929, famed artist Salvador Dalí and filmmaker Luis Buñuel awoke from a night of strange dreams, Buñuel recalling the image of a razor blade cloud slicing through the moon as if it were an eyeball, and Dalí describing a human hand covered in ants. They turned these images into a silent, surrealist short film called Un Chien Andalou, which opens on a woman with one eye held open, a cloud cutting across the moon and a blade slicing through the eye of a dead calf. The hand, crawling with ants, also makes an appearance. The film has no plot, but it’s rife with emotive and disturbing imagery.

Dyson’s new bladeless fan is also a powerful air filter

Dyson really hates dirt, to the point that it’s now come up with a new bladeless fan that can also filter out ultra fine airborne particles – including viruses, bacteria and pollens – that are as tiny as 0.1 microns. The aptly-named Pure Cool (AM11) closely resembles Dyson’s other fan towers, with the notable difference being the cylindrical glass HEPA filter around the base. After 450 prototypes, the company claims that this filter removes 99.95 percent of ultra fine particles, and it’s good for up to 4,382 hours or about six months of continuous use.

Star Wars villains get a moody re-imagining by Square Enix

Square Enix, the games maker that gave us the Final Fantasy series (alongside plenty of other games), also has a sideline in fancy high-end action figures. Its latest collection tackles the Star Wars universe, well, the darker side of said universe. Alongside Darth Vader (which was teased late last year), Play Arts Kai (the brand Square Enix releases them under) has revealed two more additions: a particularly stoic-looking Stormtrooper and Boba Fett.

Google Maps turned your streets into Pac-Man today

Your streets can be an iconic arcade game right now. Google Maps has a Pac-Man option just in time for April Fool’s Day. With the click of a button, your streets will be dotted with yellow pellets and the four famous ghosts. New York City, with its perpendicular streets, is perfect for Pac-Man’s maze. I zipped around the block for a few minutes, until I ran into Pinky outside Webster Hall. Even though everyone’s streets probably won’t convert into a Pac-Man-like grid, Google might be getting better at gags after years of trying and failing.

<a href=”http://www.engadget.com/products/apple/macbook-pro/15-inch-with-retina-display/mid-2014/”>

Apple MacBook Pro 15-inch with Retina Display (mid 2014)

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Apple MacBook Pro 15-inch with Retina Display (mid 2014) thumbnail image
  • Key specs
  • <a href=”http://www.engadget.com/products/apple/macbook-pro/15-inch-with-retina-display/mid-2014/” title=”Apple MacBook Pro 15-inch with Retina Display (mid 2014) reviews” target=”_blank”>

    Reviews 5

    </a>

  • Prices
  • Discussions
  • Type Midsize
  • Screen size 15.4 inches
  • Screen resolution Other
  • System RAM 16 GB
  • Maximum battery life Up to 8 hours
  • Dimensions 0.71 x 14.13 x 9.73 in
  • Weight 4.46 lb
  • Released 2014-07-29

see all specs

9average user rating

  • Speed and features 10
  • Design and form factor 9.2
  • Battery life 8.8
  • Display 9.6
  • Durability 8.8
  • Expandability 5.6
  • Noise 10
  • Portability (size / weight) 9.2

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Apple could sell 1 million watches opening weekend, and barely move the needle on Apple’s revenue

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

I SEE APPLE GOING BACK ABOVE $300, SOONER RATHER THAN LATER

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(Screenshot)

Apple will sell over one million Apple Watches over the opening weekend, according to Piper Jaffray analyst Gene Munster.

By way of comparison, the iPhone 6 and 6 Plus sold over 10 million units in their first three days on the market last September, Apple says.

Here’s his reasoning: 

1 million total Watch units in opening weekend would imply an attach rate of less than 1% of total iPhone users (close to half a percent). We believe given interest in the product and our prior survey work, a sub 1% attach rate in the opening weekend is realistic.

Munster expects 300,000 watches to sell in the first 24 hours — an 8% attach rate of iPhone 6/6 Plus users, who are Apple’s presumably most loyal customers — and 8 million by the end of the year, accounting for $4.4 billion in revenue, or about 2% of Apple’s total.

That 8 million figure is more bearish than most other estimates, which range between 10 and 30 million, with average consensus landing around 14 million. Munster does believe Apple will sell 4o to 50 million by the end of 2017, meaning about 10% of the iPhone user base will have bought one. 

NOW WATCH: How to pick the right Apple Watch size for you

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GoDaddy prices at $20 per share

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SAN FRANCISCO — Internet domain registrar GoDaddy, known for its sometimes outrageous Super Bowl ads, has priced stock for its initial public offering at $20 per share, said a source close to the deal who was not authorized to speak publicly.

That would raise $440 million for the company.

That’s above the expected range, which earlier had put the value between $17 and $19 per share.

Investors are valuing GoDaddy using a multiple of cash flow and using Endurance International Group as its closest publicly traded peer, according to a statement from Renaissance Capital.

However, notes Renaissance, it could go higher than $20 per share. “GoDaddy’s profits are growing faster than Endurance, so investors may be willing to pay a premium for this,” the statement said.

GoDaddy is based in Scottsdale, Ariz. The shares will trade on the New York Stock Exchange as GDDY.

GoDaddy has said it hopes to sell 22 million shares.

The offering is being handled by Morgan Stanley, JPMorgan and Citigroup, according to GoDaddy’s filing with the Securities and Exchange Commission.

GoDaddy was founded in 1997 as Jomax Technologies, but the name was changed to GoDaddy in 1999.

GoDaddy first filed to go public in 2006, according to SEC filings, but later pulled the offering. It submitted a new IPO plan last year.

It was purchased by private-equity firms KKR & Co, Silver Lake Partners and Technology Crossover Ventures in 2011.

The company had 12 million customers in 2014, 1.3 million more than it had in 2013, according to its filings with the SEC.

It generated $1.4 billion in total bookings in 2013, up from $753 million in 2009.

Despite growing sales, GoDaddy is not yet profitable. The company posted a net loss of $143.43 million in 2014. It had debt of $1.5 billion as of Dec. 31, 2014.

GoDaddy pulled a controversial Super Bowl ad about a puppy in January. The ad featured a puppy falling off a truck but making his way back to his family’s farm after an arduous journey.

When the puppy arrives back home, his owner greets his with a hug and the words, “I’m so glad you made it home because I just sold you on this website I built with GoDaddy.”

Animal rights activists decried it as promoting irresponsible breeding practices.

GoDaddy is not the only tech company making a move. Handmade-craft store Etsy announced plans to kick off its roadshow on Wednesday with 16.6 million shares to sell ahead of its planned IPO.

Etsy.com, based in Brooklyn, N.Y., said it plans to sell the 16.6 million shares at between $14 and $16 a share.

If it succeeds in selling the stock at the high-end of that range, Etsy, which has not yet made a profit, will be valued at $1.77 billion.

Etsy applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol ETSY.

Contributing: Kaja Whitehouse

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Warren Buffett And Auto Dealerships, BFFs

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NEW YORK — Investment guru Warren Buffett and the auto retail industry had a lot of nice things to say about each other at an auto conference today.

“It’s a huge industry. It can be, if run properly, a very good business,” said Buffett, chairman and CEO of Omaha-based Berkshire Hathaway Inc.

In turn, other speakers at the Automotive Forum here, co-sponsored by the National Automobile Dealers Association and J.D. Power and Associates, saluted Buffett, the “Oracle of Omaha.”

The forum was part of the build-up to the New York International Auto Show, which opens to the public this weekend.

The mutual admiration society was no surprise. Buffet closed a deal earlier this month to buy the nation’s largest, privately held auto dealership chain, the Phoenix-based Van Tuyl Group, the fourth-largest auto retail chain in the United States based on 2014 new-vehicle retail unit sales of 139,538, according to Automotive News.

The move was Buffett’s first acquisition in auto retailing, and it was seen as a big seal of approval for the auto retailing business model.

POWER LUNCH– Pictured: Warren Buffett, CEO of Berkshire Hathaway, in a panel discussion at the 2015 New York Automotive Forum on March 31, 2015 — (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images)

“I thought the best possible person in world to own it, who would understand our own entrepreneurial model … was Berkshire Hathaway’s Warren Buffett,” said former owner Larry Van Tuyl. (Tuyl is pronounced “Tile”)

In buying the Van Tuyl Group, Buffett said he intends to keep buying more dealerships. “I think we’re likely to make some acquisitions,” he said today. “We always do what we say. We will make more deals.”

That meant Buffett was addressing a ballroom full of hundreds of potential sellers, in terms of auto dealers, and potential partners, in terms of auto manufacturers.

The entire audience sat up straighter or stood a little taller when Buffett stepped on the stage. There was some verbal nudging and winking about how maybe Buffett would like to take a look at this or that dealership.

The Van Tuyl Group, based in Phoenix, has 78 dealerships in 10 states, and annual sales of around $9 billion. The company was renamed Berkshire Hathaway Automotive, with headquarters in Dallas.

Larry Van Tuyl stays on as chairman of the dealership chain. Jeffrey Rachor, the group’s former president, stays on as CEO.

Van Tuyl said the general managers who operate individual dealerships in the group all own equity in the operations they run. That continues under Berkshire Hathaway, he said.

“They have equity in the operation that they run,” he said. That’s what they had before, that’s what they still have.”






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PRESS DIGEST- British Business – April 1

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Year-To-Date Winners: We Have Found The Market And It's Apple

APPLE – THE BEST OPPORTUNITY EVER?

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April 1 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

The Times

OSBORNE: FALTERING RECOVERY NEEDS MORE TIME

UK Finance minister George Osborne is braced for an economic update shortly before the election that could show that the recovery is slowing, but he would use the data to warn of the threat posed by Labour, Tory strategists said. (http://thetim.es/1Ge6UHi)

ELLIOTT BLASTS ALLIANCE FOR ITS USE OF ‘SCARE TACTICS’

Elliott Advisors lambasted the board of Alliance Trust PLC for behaviour “unbecoming of directors of a public company” as it made its play for the heart and minds of the trust’s tens of thousands of small shareholders. (http://thetim.es/19A2o9A)

The Guardian

EXECUTIVE PAY FALLING IN REAL TERMS, REPORT SHOWS

Executive pay is falling in real terms with just under half of chief executives receiving no rise in their salaries this year, according to research by PricewaterhouseCoopers. (http://bit.ly/1Ge7Dbq)

WEAK PAY GROWTH PROMPTS FRESH PRODUCTIVITY WARNING

The typical pay rise for UK workers has been 2 percent for two years running, with almost half unsatisfied with their employer’s decision, according to a new report by CIPD, the professional body for HR workers. (http://bit.ly/1Ge4NDs)

The Telegraph

CARPHONE WAREHOUSE CUT OFF FROM APPLE WATCH LAUNCH

Apple Inc has declined to supply Carphone Warehouse, Britain’s biggest mobile phone retailer, with its new smartwatch, as it aims to target the top end of the market. (http://bit.ly/1xwD9ji)

B&Q BRAND COULD DISAPPEAR AS NEW KINGFISHER BOSS CLOSES STORES

The new French chief executive of Kingfisher PLC is to close 60 B&Q stores in Britain and has raised the prospect of the DIY brand disappearing as part of an overhaul of the company. (http://bit.ly/1C4bLoj)

Sky News

M&G FUND MANAGER SCOOPS 15 MLN STG-PLUS PAY DEAL

Richard Woolnough, a top fund manager at M&G Investments has scooped a 15 million pounds-plus pay deal for the second consecutive year, cementing his status as one of the highest-paid executives at a London-listed company. (http://bit.ly/1NCYYC2)

BRITISH TECH START-UP SIGNALS MOULTON BACKING

Signal, a British technology company which is targeting the dominance of ‘old media’ information platforms will disclose on Wednesday that it has raised a new round of funding worth $1.8 million from backers including Jon Moulton, the veteran venture capitalist. (http://bit.ly/19A1Dx4)

The Independent

CHEAPER CAR INSURANCE AND WORKING AROUND THE WEATHER: HOW IBM IS USING DATA IN ITS NEW 2 BLN STG INTERNET OF THINGS UNIT

IBM, the computer giant, is taking a punt on the Internet of Things by investing over 2 billion pounds ($2.96 billion) over the next four years on a new unit. The Internet of Things Unit is building a cloud-based platform that companies can use to get and contribute data that could affect their business operations. (http://ind.pn/1BN743g)

($1 = 0.6746 pounds) (Compiled by Aurindom Mukherjee; Editing by Diane Craft)

  • George Osborne






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