Business Man Today

The Droid: Serious iPhone competition

2009-11-19T22:12:00.000-07:00

The Droid: Serious iPhone competition

Just in time to rain on Apple's (AAPL) 2009 earnings report, a prime-time TV ad and a series of well-timed leaks have put the spotlight on Motorola's (MOT) Droid — a yet-unreleased smartphone that is being described by sources who have played with a prototype as the iPhone's first serious competitor.
The ad, which premiered Saturday during the Yankees-Angels pennant game, is pasted below the fold. The challenge to Apple couldn't be less subtle; it's a series of "iDon't" screens listing key features the iPhone doesn't have — from a physical keyboard to interchangeable batteries — that the Droid does.
The leaks are being funneled primarily through the Boy Genius Report, a blog with unusually good sources in the telecommunications industry. On Friday the site published an illustrated walk-through of Google's (GOOG) Android 2.0 — the new and reportedly much improved version of the open-source operating system that powers the Droid. Then, overnight Monday, Boy Genius posted a hands-on review — complete with photo gallery — that describes it as "the Android device to beat, and easily the most impressive."

"From what we’ve been told," BGR writes, "Google had a direct hand in the Motorola Droid. Something to the point of almost dictating every move Motorola made when designing and making the phone."

The Droid is still vaporware; no release date has been set, although Verizon (VZ) said two weeks ago that it would release two Android phones before the end of the year, and the cryptic clock on a new Verizon/Motorola Droid promotional site has been decoded and appears to be counting down to Oct. 30.
Verizon, meanwhile, seems to be playing both sides of the latest smartphone war. Several blogs reported over the weekend that Apple has begun testing the iPhone on Verizon's so-called LTE (Long Term Evolution) 4G network, scheduled for initial deployment this fall and broader rollout in 2010.
The same sources suggest that Verizon Wireless CEO Lowell McAdam, who is said to have flown to Mountain View, Calif., every other week in recent months for meetings with Google executives, may have also been making secret visits to Apple's Cupertino headquarters, less than 9 miles away.
Below: That "iDon't" Droid ad.

BOSS 'Chester' Wool & Cashmere Coat

2009-11-18T17:18:00.000-07:00

A soft blend of wool and cashmere shapes a cleanly styled, shorter-length coat with a tonal button-front closure and side-seam pockets.

Two interior slip pockets.
Approx. length from shoulder: 31 1/2".
Wool/cashmere; dry clean.
By Hugo Boss; imported.
Men's Sportswear

Check it out HERE

This jacket could be worn with either a business suit or casually with jeans and a t-shirt. The quality of this jacket and the cashmere material makes this considerable at $295

'Greatest Trade': How You Can Make $20 Billion

2009-11-18T16:40:00.001-07:00

'Greatest Trade': How You Can Make $20 Billion by Gregory Zuckerman

Even as the financial system collapsed last year, and millions of investors lost billions of dollars, one unlikely investor was racking up historic profits: John Paulson, a hedge-fund manager in New York.

His firm made $20 billion between 2007 and early 2009 by betting against the housing market and big financial companies. Mr. Paulson's personal cut would amount to nearly $4 billion, or more than $10 million a day. That was more than the 2007 earnings of J.K. Rowling, Oprah Winfrey and Tiger Woods combined.

How did he do it? Believing that a housing-market collapse was coming, Mr. Paulson spent over $1 billion in 2006 to buy insurance on what he then saw as risky mortgage investments. When the housing market cracked and the mortgages tumbled, the value of Mr. Paulson's insurance soared. One of his funds rose more than 500% that year. Then in 2008, he shorted financial shares, or wagered that they would fall in price, profiting again when these companies collapsed.

And are there any investing skills that average investors can learn from his success? Yes. There are no guarantees, of course, but the success of Mr. Paulson and a few other underdog investors lends encouragement to individuals trying to compete with Wall Street's pros.

Here are eight investing lessons of Mr. Paulson's $20 billion gamble, the greatest trade in financial history:

1. Don't Rely on the Experts

Many investors lost big in 2007 and 2008 as housing crumbled and the stock market tumbled. But no one lost more than commercial and investment banks caught with toxic mortgage-related securities. These bankers were the very same ones who created these investments, and Wall Street's top analysts had vouched for their safety, even as Mr. Paulson and others bet against the investments.
Lesson: When Wall Street is wheeling out its latest can't-miss product, be skeptical.

2. Bubble Trouble

Some academics argue that financial markets have become more efficient. But a rash of financial bubbles in recent years -- including housing, energy, technology and Asian currencies -- suggests that markets are becoming harder to navigate, and are more prone to overshooting. Today, investors of all sizes read the same articles, watch the same business-television programs and chase the same hot tips. They invariably head for the exits at the same time.
Lesson: Have an exit strategy -- and cash to cushion any tumble.

3. Focus on Debt Markets

Most investors track the ups and downs of the stock market but have only a vague sense of moves in debt markets. That's a mistake. Early signs of trouble were seen in sophisticated markets that don't get much limelight, like the subprime-mortgage bond market. These problems eventually felled the housing and stock markets, and the overall economy, a set of falling dominos that Mr. Paulson and his team correctly anticipated.
Lesson: Debt markets can do a better job predicting problems than stock markets.

4. Master New Investments

Mr. Paulson scored huge profits by buying credit-default swaps, a derivative investment that serves as insurance on debt. When risky mortgage bonds tumbled in value, Mr. Paulson's insurance soared. But many experts were flummoxed by CDS contracts or shied away from educating themselves about these relatively new investments.Mr. Paulson and his team had no experience with CDS contracts. But they put the time into learning about them.
Lesson: Educate yourself about the range of exchange-traded funds being introduced, some of which can play a valuable role in a portfolio.

5. Insurance Pays

A number of investors worried about a bursting of the housing market, but few did much about it, even though insurance, such as CDS contracts, at the time were selling at dirt-cheap prices. Out-of-the-money put contracts -- options that pay off only if the market tumbles -- also were trading at reasonable levels. As cheap as this insurance was, many pros ignored it.
Lesson: Don't underestimate the value of a safety net, such as put options.

6. Experience Counts

Some of the biggest winners in the meltdown were middle-aged investors dismissed by some as past their prime. But they had experienced past market downturns, while some of the bankers and analysts caught flat-footed knew only good times.
Lesson: A historical perspective can be a valuable tool.

7. Don't Fall in Love

With an Investment. In early 2009, Mr. Paulson became more bullish about the banks and financial companies that he had wagered against in 2008, after determining that these companies had improved their balance sheets. The moves resulted in profits this year.
Lesson: Even the greatest trade doesn't last forever.

8. Luck Helps

In early 2006, Mr. Paulson determined that housing was in trouble and set out to profit from the impending fall. But some housing experts already had determined that real estate was overpriced; others had wagered against housing but could no longer stomach their losses. Just months after Mr. Paulson placed his historic trade, U.S. housing prices began to fall.
Lesson: Don't risk too much in any one trade, even one that seems like a sure thing.

How True Religion jeans got started

2009-11-17T14:24:00.001-07:00

To build his brand, founder Jeff Lubell gave pairs of his True Religion jeans away.

(Fortune Magazine) -- My dad was in the clothing business and moved to L.A. with a New York apparel company when I was 20. I asked if I could work for him. He said, "Why don't you get a job in textiles first and learn the industry?"

So I got a job at a swimwear company, which was fitting because I was captain of my high school team. I ended up staying in the textiles industry for 25 years.

Don't be afraid to approach powerful people.
When I decided to launch True Religion, I went to industry leaders like Mickey Drexler, who was then at the Gap, seeking backing. I couldn't find private money, but I eventually found a jeans manufacturer to help me get my brand started.

Skip the prototype.
I had a concept to create a unique line of jeans with colored stitching and lower pockets. I designed a myriad of styles, and I produced about 14,000 pairs before I sold a piece. Usually you do it the other way around -- you make a sample line, go to market, get orders, and ship your production.

Comp the sales staff.
I went to Fred Segal on Melrose and showed the jeans to a guy who was running the jeans bar. He hated them. I knew his boss, so I showed her the line, but she said, "I don't get it. I don't think my customer is going to get it."

It took me an hour to wear her down, but she finally took 24 pairs. A month went by, and I went back, and they'd only sold two pairs. I asked the sales guy if I could give him a pair free. He and the other workers came out to my truck and I gave them the jeans.

Four days later I went back and couldn't find my jeans. I asked where they were, and he said, "People would come in and ask, 'What are those that you're wearing? I want those.'" They sold out.

Secrets of my success
Manufacture locally
It's expensive to make jeans in L.A., but there's a value to doing it locally. We can produce small runs and then gauge the market reaction before we make larger investments. It allows us to be flexible when introducing new styles.

Protect your name
We combat counterfeiters daily, both online and on the street. We hire experts to seek out the source of the problem, and we work with government agencies around the world. It costs a lot, but you have to be really vigilant.

Outsource everything
I didn't want to own anything, so I depend on my contractors to do everything. They've already made significant investments in fixed assets. By working with them, we benefit from their experience.

2009 Midnight Blue Maserati GranTurismo

2009-11-16T14:29:00.000-07:00

Check out its specs:
HERE

For under $100,000 your not gunna find a much sicker car than this.

Highest Paid CEOs in 2008

2009-11-16T14:12:00.000-07:00

Highest paid CEOs, 2008
Name	Company	Compensation
Stephen Schwarzman	Blackstone Group	$702,440,573
Lawrence Ellison	Oracle Corp.	$556,976,600
Ray Irani	Occidental Petroleum Corp.	$222,639,705
John Hess	Hess Corp.	$159,566,940
Michael Watford	Ultra Petroleum Corp.	$116,929,392
Aubrey McClendon	Chesapeake Energy Corp.	$114,286,867
Bob Simpson	XTO Energy Inc.	$103,485,972
Mark Papa	EOG Resources, Inc.	$90,471,784
Eugene Isenberg	Nabors Industries Ltd.	$79,333,079
Michael Jeffries	Abercrombie & Fitch Co.	$71,795,744

Ten CEOs take home more than $70 million in 2008, with Blackstone's Stephen Schwarzman topping the list with more than $700 million in compensation.

Last year was a bad one for most chief executives — but not for the top 10 highest paid CEOs.

Seven chief executives took home more than $100 million in 2008, and three others had paydays that topped $70 million, according to a report released Friday by The Corporate Library. According to the report, Blackstone's Stephen Schwarzman was the highest paid CEO in 2008, taking home $702,440,573 in salary and stock options. The head of the financial services giant vested nearly $700 million worth, or 25% of the stock options he was granted after taking Blackstone public in 2007.

Schwarzman will receive the other 75% of his $4.7 billion equity grant from the IPO in equal installments over the next four years, so he will likely remain at the top of this list for at least the next several years.

A Blackstone spokesman stressed that the $702 million for Blackstone is not "compensation," but is mostly the vested portion of his stock from the IPO.

Oracle Chief Executive Lawrence Ellison, 2007's highest paid CEO, was second on the list, pocketing nearly $557 million.

Like Schwarzman, most of Ellison's compensation came from exercised stock options, which totaled $543 million from a whopping 36 million options. That's despite a 21% drop in Oracle's share price over 2008. With 33.4 million stock options still outstanding and a 24% rise in Oracle's stock, Ellison's likely to keep his top spot on the list in 2009.

The next seven highest paid CEOs all helm energy companies: Ray Irani of Occidental Petroleum, John Hess of Hess Corp., Michael Watford of Ultra Petroleum, Aubrey McClendon of Chesapeake Energy, Bob Simpson of XTO Energy, Mark Papa of EOG Resources and Eugene Isenberg of Nabors Industries.

Oil prices — and the stock price of most energy companies — rocketed higher in the first half of 2008, before plummeting lower in the end of the year. Despite that roller coaster, these CEOs' stock options were still worth quite a bit.

And coming in at No. 10 was Michael Jeffries, chief executive of Abercrombie & Fitch. Despite a tough year for retail, in which Abercrombie's stock dropped nearly 70%, Jeffries made more than $60 million in stock options. Jeffries was also awarded a $6 million "stay bonus" after remaining as the company's chairman and CEO through December 2008, on top of his $1.5 million salary, $1.3 million for personal aircraft usage and $382,687 towards his 401(k).

Warren Buffett At The Fortune Conference: 9/15/09

2009-11-16T01:43:00.000-07:00

One of the greatest business minds to ever live.

Ralph Lauren Bradford Pinstripe Suit

2009-11-16T01:33:00.000-07:00

Bradford Pinstripe Suit

Price: $1595.00
Sale Price: $1119.99

Style #373576

Polished pinstripes and slim lapels lend sleek sophistication to our handsome, classic suit, expertly tailored in Italy from extra-fine wool for stylish comfort and a refined finish.

Check it out here

I know RL is expensive as hell, and I usually don't like pinstripes, but this is both classy and new school.

7 Careers With High Job Growth

2009-11-16T01:14:00.000-07:00

7 Careers With High Job Growth

Demand for personal financial advisors is projected to grow a whopping 41 percent between 2006 and 2016. Which other careers on Money and PayScale.com's list of America's best jobs will see big opportunities?

1. Telecommunications Network Engineer
Best Jobs rank: 30
10-year growth: 53 percent
Current total employment: 21,000
Traditionally hired to control and maintain power grids and communications for phone and cable companies, telecommunications network engineers are seeing demand from potential employers rise with the demand for Wi-Fi, broadband and other new technologies.

Telecom has gone green, too: Energy and environmental companies have opportunities galore for engineers to help build communications infrastructure for their new products.

2. Systems Engineer
Best Jobs rank: 1
10-year growth: 45 percent
Current total employment: 88,000
Systems engineers possess a wide breadth of knowledge and engineering skills that have long been widely sought within the aerospace and defense industries. Now companies from car manufacturers to consumer products firms are quickly realizing the value of systems engineers as well, leading to a hiring boom.

3. Personal Finance Advisor
Best Jobs rank: N/A
10-year growth: 41 percent
Current total employment: 20,000
The personal financial advisor profession has exploded as baby boomers reach retirement age and seek advice on making their nest eggs last. Meanwhile, younger folks are seeking guidance on managing savings and retirement accounts in lieu of a company pension plan.

"People know they have to manage their own financial futures, and they're turning to financial advisors to help," says Richard Salman, president of the Financial Planning Association.

4. Veterinarian
Best Jobs rank: 25
10-year growth: 35 percent
Current total employment: 68,000
Pet ownership has grown 17 percent in the past 10 years, and as more people embrace furry friends, more vets are needed to keep them healthy. The veterinary medicine field has echoed advances in human medicine, and veterinary specialists in fields like oncology and ophthalmology have found clients clamoring for services.

Another growth driver: An increased demand for vets in fields like food safety, disease control and pharmaceutical research.

5. Senior Financial Analyst
Best Jobs rank: 21
10-year growth: 34 percent
Current total employment: 127,000
Recession or not, investors and businesses need to put their money somewhere, and they continue relying on experts to examine the risk-reward profile of securities and projects.

"One of the things that came out of the financial crisis is people need to do their own due diligence, and there is even more attention being paid to analysis," says Bob Johnson, a senior managing director at the CFA Institute.

6. Business Analyst, IT
Best Jobs rank: 17
10-year growth: 29 percent
Current total employment: 125,000
Companies are increasingly relying on IT business analysts to make sure they're using technology efficiently and cost-effectively. In the past, this job was often farmed out to consultants, but many companies now prefer to use in-house analysts who have in-depth knowledge of their specific industry.

7. Software Development Director
Best Jobs rank: N/A
10-year growth: 28 percent
Current total employment: 12,000
Just like an architect would design a building to be structurally sound, aesthetically pleasing and functionally practical, a software architect designs computer programs that help a business run efficiently and practically. The auto industry is a particular hot spot: Cars these days can easily have at least 40 computers inside to run everything from the lights and radio to the seat-warmers -- and these gurus are needed to design the programs that keep them running.