January 2011

Robbin Phillips: 4 Biggest Mistakes Small Businesses Make With Social Media

January 28, 2011

Everyone in business today is in a frenzy to “use social media to grow their business”. Ugh. Hate to disappoint, but Facebook, Twitter, blogs and other social media tools are not magical. They’re communication tools and communication is hard work. Connecting with your customers on a deep and emotional level can pay off big time for all businesses, but it can also backfire. I’m not one to focus on mistakes and prefer, like my friends Dan and Chip Heath (authors of Switch ), to stay focused on the “bright spots.” But there are just some basics you have to avoid. So here are some of the most common mistakes I see: Mistake number one. Many businesses forget that they are dealing with real human beings. With hopes and dreams and pet peeves. People relate to each other through two-way conversation, both online and in person. Ever met someone who hogs the conversation? I have. And I tend to walk the other way when I see them coming. These shiny new tools are not like megaphones. Talking about yourself won’t make others talk about you. Don’t shout offers and deals and me, me, me. Take your marketing hat off and think like a human being. Invest in getting to know your customers better than your competition does. Listen. Be curious, and interested and engaged. Tell stories and share knowledge. Most of all, ask yourself how you can provide meaning and value. How can you be helpful? How can you support your best friends and biggest fans? How can you lift them up? It’s about people. Mistake number two: Lots of businesses, especially small businesses don’t take time to plan or set goals. There is a lot of sameness out there in small business land. What makes you different? How can you let your personality and voice shine when you communicate? What is your unique point of view? What’s the passion conversation you share with your customers? And the planning that is most often overlooked? Who in your business has the time and personality to be “social”? Get very real with this one. Don’t just add it to someone’s job description to tweet or update Facebook or keep up a blog. You have to find someone within your company who has a real passion for connecting with people. Then give them to the freedom to engage and respond. And even surprise and delight your customers. Mistake number three: No one’s home. Said another way, don’t start something you can’t finish or don’t intend to do well. If you decide to blog, make a decision to do it on a consistent basis. Not randomly. And the more often, the better. Be consistent, present and responsive. Or don’t do it all. Mistake number four: So many businesses believe “social media” is a magic bullet. I hate the word social media. I prefer word of mouth marketing. That’s something that has been around and will never go away. Technology by its very nature will change. What’s hot today technology-wise is often dead or very different tomorrow. Positive word of mouth requires a positive experience. Now there are just more ways to provide that that experience. Be remarkable. Both online and offline. (After all most word of mouth happens in person.) Sorry to disappoint, but there is no magic bullet when it comes to making personal and emotional connections with your customers. So there you have it. Remember you are dealing with people. Think “word of mouth” vs. social media. Let your organization’s real personality shine to you will draw kindred spirits your way. Plan and set goals. Be committed to your plan. And most of all, work on creating remarkable experiences for your customers. Treat them like your very best friends.

Read the full article →

Video: Elmasry Expects Egypt `Turmoil’ Until Mubarak Ousted

January 28, 2011

Jan. 28 (Bloomberg) — Mohammed Elmasry, a professor emeritus at the University of Waterloo in Canada, talks from Cairo about the demonstrations in that city. Protesters demonstrated throughout Egypt, with clashes erupting in central Cairo, in the biggest challenge to President Hosni Mubarak’s 30-year rule. Elmasry talks with Lisa Murphy on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)

Read the full article →

Video: Kerry Urges Egypt to Respect the Democratic Process

January 28, 2011

Jan. 28 (Bloomberg) — U.S. Senator John Kerry, a Massachusetts Democrat, talks with Bloomberg’s Olivia Sterns at the World Economic Forum in Davos, Switzerland, about the unrest in Egypt. Protesters demonstrated throughout Egypt with clashes erupting in central Cairo, in the biggest challenge to President Hosni Mubarak’s 30-year rule. (Source: Bloomberg)

Read the full article →

Roger Ehrenberg: Failing Well At Your Startup

January 28, 2011

Failure sucks. Nobody wants to fail. But in the startup world, most people are doing just that. I’m not sure I’ve read much about “how” to fail, since failure is so depressing and negative. But I’m here to tell you that there is a good way to fail and that there are steps for positively managing the aftermath. I’ve seen it done well, I’ve seen it done poorly and I’ve done it myself, so I certainly have some well-formed views on the topic. Thank your investors for their faith and confidence in both you and the mission, and express how truly sorry you are that it didn’t work out. Work hard to leave on good terms with all other key constituencies — co-founders, employees, service providers, etc. You don’t need to be best friends, but you should be civil and able to move forward with a clean slate. Think deeply about how it went wrong, and write it down. As much as you can in a sitting. Almost a Kerouac-like jag of stream of consciousness related to your multi-year, all-consuming experience. Read what you’ve written, clean it up, and share it with others however you like. The process of sharing is both cathartic and can generate some valuable feedback for your future endeavors. Look for those in your market space who are successful and whom you respect for how they became successful. Study their attributes and do the differential analysis between your failed firm and them. This is important data for you to think about and ponder for your future experiences. Talk to lots of people. Don’t hide. Have breakfast and lunch with friends, trusted advisers and other interesting people. Stay in the flow of energy and ideas. It will renew you during this difficult time of loss. Don’t let failure color your perceptions of yourself. Take failure as a valuable learning experience that is merely a step on the road to future success. Whether you do another start-up or not isn’t the point; it’s to use the invaluable data you’ve collected about how businesses work — or don’t work — that you can take with you for the rest of your working life. While it’s poetic to say “do it again,” maybe that’s not necessarily the right thing for everybody to do. But absolutely, positively, do not let failure dictate your future choices. If you’ve got the fire in your belly to do another startup, then freaking do it . Few VCs or angels I know view failure as a negative if you’ve failed “correctly.” In fact, many, myself included, view it as an important experience as part of one’s personal and professional development. Really. This post originally appeared on Roger Ehrenberg’s blog, informationarbitrage.com .

Read the full article →

Video: Edward Djerejian Hopes for a Political Opening in Egypt

January 28, 2011

Jan. 28 (Bloomberg) — Edward Djerejian, former U.S. ambassador to Israel and Syria, talks about the anti-government protests in Egypt and the outlook for a political solution to the unrest. Djerejian speaks with Lisa Murphy on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg)

Read the full article →

The Next Generation Of Wikileaks

January 28, 2011

BERLIN (By Mark Hosenball) – All across Europe, from Brussels to the Balkans, a new generation of WikiLeaks-style websites is sprouting. Like their forerunner, the fledgling whistle-blowing sites are a chaotic mixture of complex systems engineering, earnest campaigning, muckraking and self-promotion. And though their goals are varied, the activists behind the sites told Reuters that they share one major concern: they all vow not to repeat mistakes they believe were made by Julian Assange, the controversial WikiLeaks creator. The proliferation of websites to encourage, facilitate and shelter leakers is so anarchic that two aspiring anti-corporate leak sites are both claiming rights to the rubric “GreenLeaks” and muttering about legal consequences if the other side doesn’t back down. The most closely watched rollout in the leak-hosting world was the launch on Thursday of OpenLeaks.org, a site whose principal creator, German transparency activist Daniel Domscheit-Berg, was once Assange’s closest collaborator. Domscheit-Berg, who used the pseudonym “Daniel Schmitt” as Assange’s official WikiLeaks co-spokesman, says he doesn’t believe, as Assange initially did, that confidential material should just be dumped on the Internet. The bare-bones mission statement posted on OpenLeaks describes Domscheit-Berg’s vision as both a safe-deposit box and a social networking site for leakers and their consumers. Other WikiLeaks copycats, spinoffs and wannabes are germinating: activists say they have learned of recent launches of leak-accepting websites focused on specialized topics or regions — from Russia and the European Union bureaucracy to international trade and the pharmaceutical industry. Major news organizations are also moving to establish web-based mechanisms for receiving leaks directly, such as electronic “drop boxes” which would enable leakers to feed the media outlets directly, cutting out middlemen like Assange. “THE ARCHITECT” The most ambitious and potentially far-reaching WikiLeaks spinoff to surface this week is Domscheit-Berg’s OpenLeaks, which its founder describes as a mechanism both for putting together leakers with knowledgeable recipients and for linking leak-consuming organizations to each other. The burgeoning Wikiworld has been eagerly anticipating Domscheit-Berg’s next project since his falling out with Assange last year. The two became estranged following an e-mail exchange in which Assange summarily suspended Domscheit-Berg as WikiLeaks co-spokesman for allegedly leaking information to the media about growing concern among other WikiLeaks activists about Assange’s private life. Domscheit-Berg subsequently quit WikiLeaks, denouncing Assange for “acting like an emperor or slave trader.” He took with him other more shadowy figures who had been important collaborators with Assange in creating key elements of WikiLeaks’ leak-handling systems architecture. One of the defectors was a programer known to most insiders simply as “The Architect.” Described by colleagues as at least as brilliant at programing as Assange, The Architect was the principal designer of the systems WikiLeaks used to produce Assange’s greatest public triumphs last year, the distribution of hundreds of thousands of classified U.S. government reports. In a conversation with Reuters on Thursday from Davos, Switzerland, where he appeared on a World Economic Forum panel devoted to “Confidentiality and Transparency,” Domscheit-Berg said his WikiLeaks experience had convinced him of the wrongness of Assange’s view that the website should publish raw information and let others sort through it. (Assange’s approach subsequently appears to have matured, as demonstrated by WikiLeaks current snail-like release of its cache of 250,000 U.S. diplomatic cables.) Domscheit-Berg said WikiLeaks taught him that huge efforts have to be made to authenticate, analyze, filter and if necessary redact leaked secret documents before making them public. He said that WikiLeaks also demonstrated that a top-down group like WikiLeaks, which Assange by his own account rules like something of an absolute monarch, might not be the best model to undertake painstaking pre-publication reviews of complex, and potentially damaging, data. He said his concept is to create a new network through which leakers of any kind — government, corporate, environmental, whatever — could make confidential submissions to groups that could make use of them. OpenLeaks itself would not evaluate, let alone publicly release, the information. Instead it would convey it from leaker to leakee. The plan is to create a central web architecture for moving confidential documents from leaker to recipients, and then recruit organizations from the media, NGO world and labor movement, to become partners in the network he is creating. With his system — which is still being put together, and which, according to some activist sources, has had to postpone its launch date more than once — would-be leakers could anonymously approach OpenLeaks to be connected with a group of OpenLeaks partners who would have the resources and expertise to process their data properly, or with a single leak recipient. Leakers wanting to connect with a single recipient, such as a specific media outlet, would be able to. But Domscheit-Berg says that in most cases OpenLeaks’ practice would be that the individual media organization receiving a leak would have only a limited embargo period, usually a few weeks, to analyze the material and decide how or whether to use it. After that, the leaked material would be shared with all partners in the OpenLeaks project. Domscheit-Berg says this system is designed both to provide leaks exposure to a wider circle of potential expertise and publicity and also to encourage partners to share more information among themselves. “We’re trying to be a gatekeeper but actually enabling everyone else,” Domscheit-Berg said. If a leaker wanted the material never to be shared beyond a single initial recipient, he said, that could be arranged. Domscheit-Berg said that at some point he hoped to establish a foundation to help raise funds for not just OpenLeaks operations but also research legal and political issues related to transparency and disclosure. He said none of the partners joining the OpenLeaks network would be asked to make any direct financial contribution, and that OpenLeaks would not generate revenue by brokering information. Instead, he said, OpenLeaks will suggest that potential partners with large servers contribute computer time or space to help build the network. Some internet activists and journalists who heard details of Domscheit-Berg’s scheme before its official launch are already raising questions. They wonder whether the plan is too complicated and how the system will fulfill promises to leakers that their material will only be shared with limited recipients if that’s what the leaker wants. Domscheit-Berg said that leakers and partners would have to operate on a measure of “trust.” He declined to discuss the role “The Architect” or other activists would play in crafting OpenLeaks’ technical infrastructure, other than to acknowledge that some of his new site’s “technical people … were with WikiLeaks.” “COUNTERINTELLIGENCE FOR THE EARTH” Of more immediate interest to oil, mining and other natural resources industries might be the launch of two websites which say they intend to become conduits for corporate insiders wanting to blow the whistle on environmental abuses. But the race to set up environmentally-oriented websites under the rubric “GreenLeaks” became slightly toxic earlier this week when groups of activists in Denmark and Germany, who say they have been working independently for months on creating infrastructures in cyberspace and assembling networks of lawyers and experts to process leaks, learned of each others’ existence. The rival groups were not pleased to discover they had become involved in a competition. Representatives of both groups say they are willing to discuss their visions with each other. But each side is also assessing possible legal moves. The leader of one of the groups told Reuters that his lawyers may file legal papers challenging his rivals’ activities before the end of this week. The creators of both “GreenLeaks” websites each say they came up with the idea independently and have already expended considerable energy working on both legal and technical aspects of their sites. As the rival sites’ founders describe them, each site has its own quirks and merits, which in theory could complement each other. But for now, the two sites are glowering at each other, hoping their antagonist will blink first. A group based in Denmark has registered the Internet domain name “GreenLeaks.org” and said it has applied to trademark it as well. Based in Copenhagen, the group is led by Internet advertising executive Mads Bjerg and backed by his boss Jacob Hagemann, head of Searcus, a Copenhagen ad agency that specializes in crafting ads linked to internet searches. Bjerg’s project has been endorsed by Birgitta Jonsdottir, a member of Parliament in Iceland who was once a close collaborator with WikiLeaks and Assange. (After Swedish authorities opened a sexual misconduct investigation against him, Jonsdottir fell out with Assange and denounced him.) Bjerg has also been in contact with OpenLeaks via one of Domscheit-Berg’s collaborators, an Icelandic former WikiLeaks volunteer named Herbert Snorrason who uses the OpenLeaks handle “Odin”. In two days of interviews with Reuters at restaurants, lawyers’ offices and the houseboat where he lives, Bjerg said he had recruited a group of prominent Danish lawyers, journalists and activists to help him build GreenLeaks. He said he already had an idea about landing a big leak — though he wouldn’t say what it was — and said that other supporters of his project included an unidentified former official of a European intelligence service, who would help his site with security issues. Bjerg said that on January 17 he launched a homepage with a “GreenLeaks.org” logo (and little, if anything, else) and added: “Money is not an obstacle right now.” He declined to identify how much financial support his site had or where it came from. He said at the moment volunteers were offering help. His ambition for the site is expansive. “We want to be the authority when it comes to leaks about nature, the climate and the environment … The voice of the Earth … Counterintelligence agency for the Earth, you could say.” Bjerg said journalists and activist groups — including the Nordic branch of Greenpeace — have already pledged support to GreenLeaks.org. DanWatch, a non-profit investigative journalism group which gets funding from both the Danish Government and the European Union, has also affiliated itself with Bjerg’s website. Anne Skjerning, DanWatch’s director, said that her group, which specializes in corporate exposes, had “a hard time getting information on companies because it’s confidential.” She said that a GreenLeaks website “would be a big help for us” as a conduit through which anonymous leakers could supply inside information. Bjerg said that Thorkild Hoyer, a prominent Copenhagen lawyer who specializes in human rights, has agreed to serve as one of the group’s spokespeople. But responsibility will be shared among activists and supporters, and there will be no cults of personality. “We do not want this organization to be led by one person,” Bjerg said. “As we saw with WikiLeaks, certain things can work against an organization if the initial financier is also the early programer and chief editor.” The competitor to Bjerg’s GreenLeaks.org is being put together by Scott Millwood, an Australian documentary film-maker based in Germany. Over lunch in a Berlin sushi bar, Millwood told Reuters his group acquired the domain name GreenLeaks in 36 countries where it also has registered GreenLeaks internet addresses under the “.com” and “.biz” designators. Millwood said he also has applied to the European Union to register “GreenLeaks” as a trademark, but recently learned that Bjerg’s Denmark-based group had made a similar move within days of Millwood making his own application. Millwood acknowledged that there was “one inactive domain name that we don’t own” — Bjerg’s URL, “GreenLeaks.org.” By the same token he said, one of the URLs Millwood says he registered himself is “GreenLeaks.dk” — a domain name specifically related to Denmark. Millwood acknowledged the rivalry between the two groups could escalate into a “legal dispute.” His GreenLeaks.com will be organizationally similar to the original WikiLeaks — in that Millwood will be chief editor and principal spokesman. “I’m the public face and the editor. It’s important our organization has a responsible editor. We’re a news organization with a responsible editor. We’re not clandestine. We won’t be faceless or placeless.” Millwood nonetheless did not identify other collaborators in his website, other than to say that they included people located in several countries with backgrounds in environmental activism, information technology, social media and the law. He said that despite his plan to be his website’s public face, his philosophy of handling leaks is markedly different from the one pursued by WikiLeaks and Julian Assange. “He believed that he had a duty to history to put everything in the public sphere; information for its own sake,” Millwood said. “That’s not our philosophy. If we release information we want it to have a specific purpose.” To this end, Millwood, who produced documentaries about alleged environmental abuse in his native Tasmania, says that one of his main objectives will be to take leaked information and popularize it — for example through reporting out stories or crafting graphics. Like his rival GreenLeaks and OpenLeaks, Millwood talks of enlisting partners or eventually setting up a network of regional GreenLeaks sites. For the moment, however, Millwood’s Greenleaks.com site, which he managed to launch a few days before his Danish rivals “.org” site went live, is skeletal. He acknowledged he is “still developing the infrastructure” for a site which can receive and process confidential leaks. “EZ-PASS FOR LEAKERS” At least one other website channeling purported insider disclosures on green issues, called EnviroLeaks.org, is also up and running, though much of its initial fare consisted of re-posting State Department cables already released by WikiLeaks. More original — and arcane — are recent launches such as balkanLeaks.eu and brusselsleaks.com, which deal, respectively, with scandals in countries like Bulgaria and in the European Union bureaucracy. (BalkanLeaks’ content appears to be mainly a one-page manifesto.) Meanwhile, one prominent media outlet which has had a productive, though tempestuous relationship with Assange and the original WikiLeaks, is brainstorming whether it might be possible to cut out the middleman entirely and establish a secure channel for leakers to feed stuff to it directly. The New York Times, which is publishing an e-book on its dealings with WikiLeaks and also has posted a lengthy account by Executive Editor Bill Keller of his turbulent dealings with Assange, is examining whether it could set up its own Internet conduit for secure leaking. “Yes, a few people in our computer-assisted reporting and interactive news units are looking at setting up a drop box of some kind,” Keller told Reuters in an e-mail. “I’ve taken to calling it an EZ Pass lane for whistleblowers.” Keller noted that there are “some technical, legal and journalistic issues to work through” and added: “Nothing decided yet, but I’m intrigued.” (Editing by Jim Impoco and Claudia Parsons) Copyright 2010 Thomson Reuters. Click for Restrictions .

Read the full article →

Video: Porter Says Companies Missing Chance to Create Value

January 28, 2011

Jan. 28 (Bloomberg) — Michael Porter, a professor at Harvard Business School, talks about corporate strategy and the need for companies to address social issues. Porter talks with Tom Keene at the World Economic Forum in Davos, Switzerland, on Bloomberg Television’s “Surveillance Midday.” (Source: Bloomberg)

Read the full article →

Video: IMF’s Lipsky Says Ireland Must `Deliver’ Fiscal Changes

January 28, 2011

Jan. 28 (Bloomberg) — International Monetary Fund First Deputy Managing Director John Lipsky talks about global policy coordination, fiscal challenges and economic outlook. He speaks with Tom Keene on Bloomberg Television’s “Surveillance Midday” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

Man Gets 2 Years Prison For Disney Insider Trading Plot

January 28, 2011

NEW YORK (By Bernd Debusmann Jr) – A man who admitted to scheming with his girlfriend to try to sell inside information about Walt Disney Co to hedge funds was sentenced on Friday to 27 months in prison. Yonni Sebbag was sentenced in New York after pleading guilty last August to one count of wire fraud and one count of conspiracy. Sebbag, a 30-year-old Moroccan citizen, also faces deportation after his release from prison. His girlfriend, Bonnie Hoxie, admitted to the same two charges in September. Prosecutors said the pair had tried to sell information to more than 30 hedge funds about Disney’s upcoming earnings and possible mergers, which Hoxie learned about as an assistant to the company’s corporate communications chief. They were arrested after several funds reported their activities to authorities. Among the leaks were details of possible advanced talks over a sale of Disney’s ABC television network, prosecutors said. Disney has called references to such talks “false.” More than a dozen family members and friends from Morocco and France were in attendance at his sentencing. Sebbag’s lawyer had sought a sentence of no more than a year in prison, saying Sebbag’s was desperate after the cafe he ran in Hollywood began losing money and he had become addicted to gambling. The U.S. Securities and Exchange Commission filed civil charges against Hoxie and Sebbag last May. The SEC said Hoxie had told Sebbag she coveted expensive shoes and a $700 Stella McCartney handbag. (Additional reporting by Jonathan Stempel; Editing by Lisa Von Ahn) Copyright 2010 Thomson Reuters. Click for Restrictions .

Read the full article →

Bank Bailouts: ‘The Screwing Of The American People’ (VIDEO)

January 28, 2011

In a video exploration of the bank bailouts, two cute creatures decide the bank bailouts amount to “the screwing of the American people.” In the new video, from Omid Malekan , one character asks why the banks were bailed out, and the other responds “Because they said the banks were too big to fail, and if they failed, there would be too many foreclosures, and no new mortgages.” The video goes on to point out that after the bailouts, banks didn’t stop foreclosures, or issue new mortgages. But one executive at Bank of America did pay bill on his $70,000 desk. (Scroll down to watch.) The banks also bought other banks, becoming “too bigger-er to fail.” Among the banks too bigger-er to fail: “JP Morgan Chase Bear Stearns Washington Mutual and the Bank of America Countrywide Merill Lynch.” What about Goldman Sachs, did they buy another bank? The character in blue asks. “No,” the other replies. “Because when you already own the US government, you don’t need to buy any more banks.” WATCH below The video follows Malekan’s popular explanation of the Federal Reserve’s quantitative easing policy, which presented it as a hopelessly misguided effort to save the world economy. WATCH below

Read the full article →

Video: Mulally Says Ford Profitability, Hiring to Rise in 2011

January 28, 2011

Jan. 28 (Bloomberg) — Alan Mulally, chief executive officer of Ford Motor Co., discusses the company’s fourth-quarter profit, forecasts and spending. The second-largest U.S. automaker, said fourth-quarter profit fell 79 percent as its European unit had an unexpected loss and new models drove up costs. Mulally talks with Tom Keene on Bloomberg Television’s “Surveillance Midday.” (Source: Bloomberg)

Read the full article →

Video: Jacob Says LinkedIn May Be Valued at $2 Billion or More

January 28, 2011

Jan. 28 (Bloomberg) — Ryan Jacob, chairman and fund manager at Jacob Asset Management, discusses the outlook for LinkedIn Corp.’s planned initial public offering. The largest professional-networking site plans an IPO after turning a profit in the first nine months of last year and more than tripling revenue between 2007 and 2009, it said in a filing yesterday with the U.S. Securities and Exchange Commission. Jacob talks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

Read the full article →

Beth A. Brooke: What’s the Difference?

January 28, 2011

Kudos to the World Economic Forum (WEF). Big changes usually begin with small steps and the WEF continues to step forward. A new WEF policy this year required the Forum’s 100 Strategic Partners to select at least one female executive among the five delegates they sent to Davos. This simple action more than doubled the participation of women executives among the Strategic Partners. Women were still few and far between in Davos, but it was both symbolic and an important step forward. I have been a WEF delegate for my organization, Ernst & Young, for five years. It was gratifying to participate with friendly faces that brought different perspectives to this important annual gathering. My initial impression when I saw the participant list — wow, I knew nearly all of the women! These are highly regarded, high-level women leaders. Why hadn’t they been at Davos before? I guess it shouldn’t be too surprising. There is a paucity of women CEOs, board members and policymakers. Progress around women’s advancement has been moving at a glacial pace in all countries. The White House Project Report: Benchmarking Women’s Leadership shows that women hold a static 18% in the leadership ranks across ten sectors of the US economy, despite their record participation in the US workforce. Another example: The latest statistics from Catalyst on the percentage of women on boards and in leadership concur that the numbers have been virtually stagnant over the last five years. Women are still less than 3% of Fortune 500 CEOs, 15% of boards, and only 20% of WEF attendees. WEF has been trying. They formed a gender parity group with 50 men and 50 women. They issue the annual Global Gender Gap Report. They are shooting for 40% women in their Young Global Leaders program. After all these steps failed to produce the desired results, WEF took this next step with the policy this year. Without a little nudge, it’s easy to gravitate towards colleagues and leaders who think, look, and act like we do. Unconscious bias on the part of those in power is undoubtedly behind the glacial pace of change. (In fact, I’ve found this same dynamic to be true in discussions of women’s advancement initiatives — it’s too often women only talking to other women about what needs to change.) With WEF’s new policy, suddenly, women who arguably should have already been a part of the Davos scene were actually there this year. And there was no doubt in my mind that having access to the incredible network of corporate, political and civil society global leaders — these women would make the most of it. They contributed positively and differently to the dialogue, to the benefit of the companies they represent and to the broader public interest. Having said that, there were still far too few women on the dais and on the panels debating the serious issues facing our global economy. The fundamental question for each of us when it comes to women’s advancement — and more inclusive leadership in general — is whether we believe there is still a reason to “push.” Is there really a benefit? Is there something to be gained by aggressively engaging diverse perspectives? I believe the answer is yes — we still need to push — for two reasons. First, there is undeniable proof that performance and outcomes will be better. Second, I have personally experienced the benefits of diversity in action. There is a tremendous volume of research, conducted by both the private and public sector that having more diversity on corporate boards, for example, results in better financial performance and corporate governance. Research has also proven that well-led diverse groups are better at problem solving and homogenous teams run the risk of “groupthink.” Today, there is an even more compelling reason to involve more women leaders. Women, according to a study by Booz & Company, are an “emerging market” as they become economically empowered around the world. They are “the third billion”, consumers, employees, leaders, or entrepreneurs, only behind China and India. Who would ignore that size of emerging market? Who would exclude India or China from Davos or fail to evaluate investments in women as they consider investments in other emerging markets? Having access to and leveraging the potential of half of the global talent pool is vital to economic progress around the world – individuals, families, corporations, and whole societies benefit. The potential ROI is undeniable. Putting the research aside, I have countless examples throughout my more than 30 year career of meetings in which I’ve been the lone female voice. Often, my voice was dismissed, and I know I speak for all women leaders when I say that. On the flip side, I’ve been in meetings where there was a critical mass of diverse perspectives, and the conversations changed: tough decisions were made, but only after incorporating multiple and varying viewpoints and perspectives. After many years of experience, I can vouch for the fact that a healthy dose of difference, even dissent, produces better conversations and results. At a time when the global problems we face are more complex than ever, we can no longer stay in the comfort zone of the status quo — we must proactively seek to include diverse perspectives by setting goals and taking action. We need to go beyond mentoring to sponsor and appoint leaders who don’t think, look, or act like we do. In short, we need to push. This year, having more women in Davos was important but not a tipping point; the numbers are still too few. But things changed. I spoke with many leaders who found the different conversations and the new networking refreshing. They found, like I have often found, that when there is a lot of “different” going on — good things happen. So thanks to the WEF for using your platform to make a difference. Keep pushing.

Read the full article →

Video: Kanas Says BankUnited Plans to Acquire in Florida, NYC

January 28, 2011

Jan. 28 (Bloomberg) — John Kanas, president and chief executive officer of BankUnited Inc., discusses the outlook for the company following its initial public offering. The bank, acquired by buyout firms including Blackstone Group LP, Carlyle Group and WL Ross & Co. after it was shut by regulators in 2009, raised $783 million in an IPO, or 19 percent more than sought. Kanas talks with Margaret Brennan and Jon Erlichman on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

Read the full article →

Video: ElBaradei, Annan, Obama’s Own Words on Egyptian Protests

January 28, 2011

Jan. 28 (Bloomberg) — President Barack Obama, former U.S. president Bill Clinton and Egyptian government opponent Mohamed ElBaradei talk about the clashes on the streets of Cairo demanding the end of President Hosni Mubarak’s regime. This report also includes comment from former United Nations Secretary General Kofi Annan, Organization of Economic Cooperation and Development Secretary General Angel Gurria, International Monetary Fund Middle East Adviser Masood Ahmed and Bahraini banker Khalid Abdulla-Janahi. This report contains some video provided by APTN.

Read the full article →

Video: Rubin Says U.S. Having `Tough Time’ on Response to Egypt

January 28, 2011

Jan. 28 (Bloomberg) — James Rubin, co-executive editor of Bloomberg View and a former assistant secretary of state under President Bill Clinton, talks about the unrest in Egypt and the U.S. response to the situation. Clashes erupted as Egyptian authorities tried to prevent demonstrations in Cairo, where protesters chanting “liberty” and “change” assembled to demand the end of President Hosni Mubarak’s 30-year rule. Rubin speaks with Margaret Brennan on Bloomberg Television’s “InBusiness.” (Source: Bloomberg)

Read the full article →

Video: Dimon Says Regulation Needs to Be More Intelligent

January 28, 2011

Jan. 28 (Bloomberg) — Jamie Dimon, chief executive officer of JPMorgan Chase & Co., discusses financial regulation and the need for fiscal discipline in the U.S. Dimon speaks with Erik Schatzker on Bloomberg Television’s “InBusiness” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

eFUEL EFN Corp. Is Pleased to Announce the Names of the Euro-American Finance Network Inc. (EAFN) Slate of the New Members to the Board of Directors of eFUEL

January 28, 2011

TAMPA, FL–(Marketwire – January 28, 2011) – eFUEL EFN Corp. ( PINKSHEETS : EFLN ) is pleased to announce the names of the Euro-American Finance Network Inc. (EAFN) slate of the new members to the Board of Directors of eFUEL.

Read the full article →

Girl Scouts Trim Cookie Lineup

January 28, 2011

The new pilot Super Six program, reports the Journal, keeps Thin Mints (yay!), Do-Si-Dos, Trefoils shortbread cookies, Samoas and Tagalongs, Lemon Chalet Cremes. But U-Berry-Munch, All Abouts (shortbread + fudge) and sugar-free chocolate chip cookies? They may go the way of the AMC Gremlin. In other words, good-bye, and will we remember you were ever here?

Read the full article →

Video: Sara Lee Plans to Split in Two, Names Marcel Smits CEO

January 28, 2011

Jan. 28 (Bloomberg) — Sara Lee Corp., the maker of Ball Park hot dogs and Douwe Egberts coffee, decided to split itself in two after failing to agree to takeover offers from suitors. Sara Lee said today that it will seek to spin off the meat business as a new public company by early calendar 2012. The board also named Marcel Smits chief executive officer. Bloomberg’s Cristina Alesci reports. (Source: Bloomberg)

Read the full article →

Steve Blank: Towards A Science Of Entrepreneurship

January 28, 2011

Utah may be known for many things, but who would have thought that Utah, and particularly Brigham Young University (BYU), would be participating in the transformation of entrepreneurship? I spent last weekend in Utah at BYU as a guest of Professor Nathan Furr , a former Ph.D. student of our MS&E department at Stanford , where they are set on being a leader in developing the management science of entrepreneurship. The most visible step was the first International Business Model Competition , hosted by the BYU Rollins Center for Entrepreneurship and Technology. What’s A Startup? We’ve been teaching that the difference between a startup and an existing company is that existing companies execute business models, while startups search for a business model. (Or more accurately, startups are a temporary organization designed to search for a scalable and repeatable business model.) Therefore the very foundations of teaching entrepreneurship should start with how to search for a business model. This startup search process is the business model / customer development / agile development solution stack . This solution stack proposes that entrepreneurs should first map their assumptions (their business model) and then test whether these hypotheses are accurate, outside in the field (customer development) and then use an iterative and incremental development methodology (agile development) to build the product. When founders discover their assumptions are wrong, as they inevitably will, the result isn’t a crisis , it’s a learning event called a pivot — and an opportunity to update the business model. Business Model Versus Business Plan The traditional business plan is an essential organizing and planning document to launch new products in existing companies with known customers and markets. But this same document is a bad fit when used in a startup, as the customers and market are unknown. A business plan in a startup becomes an exercise in creative writing with a series of guesses about a customer problem and the product solution. Most business plans are worse than useless in preparing an entrepreneur for the real world as “no business plan survives first contact with customers.” I suggested that if we wanted to hold competitions that actually emulated the real world (rather than what’s easy to grade) entrepreneurship educators should hold competitions that emulate what entrepreneurs actually encounter — chaos, uncertainty and unknowns. A business model competition would emulate the “out of the building” experience of real entrepreneurs executing the customer development / business model / agile stack. The 47th (-46) Annual Business Model Competition From the seed of this initial idea last summer Professor Nathan Furr , and his team at BYU created a global business model competition, receiving over 60 submissions from across the world. Alexander Osterwalder , Professor Furr and I were the judges for selecting the winner from the final 4 contestants. The finals were held in the packed 800 seat BYU Varsity Theater with lines of students outside unable to get in. It was an eye-opener to see each of the teams take the stage to describe their journey in trying to validate each of the 9 parts of a business model, rather than the static theory of a business plan. Each team used the business model canvas and customer development stack to go from initial hypotheses, getting outside the building to validate their ideas with customers, and going through multiple pivots to find a validated business model. The winner was Gamegnat , a gaming information portal (take a look at their presentation here .) At the end of the competition Gavin Christensen, managing director of Kickstart Seed Fund said, “This is going to change the way we invest.” A nice testament to the visible difference in the quality of every teams presentation. The competition was an inspiration to the students, mentors and teaching teams. Utah: Entrepreneurial Surprises While I was in Utah, my host kept me busy with a series of talks. I spoke at lunch to a room of 400 entrepreneurs and investors from the region about the business model / customer development stack. I was quite surprised to find the depth and interest in innovation and sheer number of startups that I saw. I was even more surprised to learn that University of Utah has gone from being ranked 94th in the U.S. for startups created from university intellectual property to number one. When I met with the faculty and Deans at BYU they were proud to tell me that they were number one in the U.S. for startups, licenses, and patent applications per research dollar. BYU has embraced an e-school approach, changing their curriculum to develop and teach the ideas in the business model / customer development stack. Their vision is to make the Business Model Competition an even larger international event, creating competitions at partner schools and providing the materials and insight to create a network of business model competitions culminating in an international finals event. And they are ready to share! Keep your eye out for more details about creating your own competition, or contact Nathan Furr directly.

Read the full article →

Judy Lubin: Obama Schools Nation on Technology and Changing Economy

January 28, 2011

During his State of the Union address President Obama placed special emphasis on technology as an underlying force driving change in our economy. Early in his speech the president juxtaposed the “good old days” of “when finding a job meant showing up at a nearby factory or a business downtown” against a global, technological juggernaut that has opened up markets while increasing competition for jobs. “In a single generation, revolutions in technology have transformed the way we live, work and do business,” he said. Before laying out his vision of a new era of American innovation, Obama noted that “thirty years ago, we couldn’t know that something called the Internet would lead to an economic revolution.” Speaking about the economic benefits of technology and innovation, Obama noted that “today, just about any company can set up shop, hire workers, and sell their products wherever there’s an internet connection.” Obama’s overall message was that the world has changed. In this new world, Americans must embrace technology or risk being left behind in an age of new demands and global competition. He noted that by recognizing the value of technology and emphasizing science and math education, countries such as China and India are attracting businesses and developing highly skilled workers. One of the more illustrative moments of the speech was when Obama spoke of the “shuttered windows of once booming factories, and the vacant storefronts of once busy Main Streets.” While he acknowledged the hardship and pain brought on by closed factories and steel mills that can “do the same work” with less people, the president urged Americans not to “stand still” despite the reality that the “rules have changed” for millions of workers. In so many words, the president was telling the nation that it’s time to retool and figure out how we’ll survive in an increasingly “flat” world. Obama put the onus on government investments and preparing young people for science and technical fields but did not address the fact that an American worker with comparable training and education will likely still find it hard to compete in a free enterprise system that favors cheap labor and lax regulations. While I was happy to hear the president talk about the internet and the promise of technology, I couldn’t help feeling that the focus on “winning the future” through innovation was a way to bypass dealing with today’s difficult challenges. Still, I liked that Obama took the opportunity to remind Americans about the enabling power of the internet. By seizing on the forward-moving nature of technology, the president invited us to look past the present moment and imagine a different tomorrow.

Read the full article →

Video: Herrmann Says U.S. Growth May Be Above 4% in Second Half

January 28, 2011

Jan. 28 (Bloomberg) — John Herrmann, senior fixed-income strategist at State Street Global Markets, discusses U.S. fourth-quarter gross domestic product released today and the outlook for the economy. Gross domestic product climbed at a 3.2 percent annual pace from October through December, falling short of the 3.5 percent median forecast of 85 economists surveyed by Bloomberg News, Commerce Department figures showed. Herrmann speaks with Betty Liu and Michael McKee on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Read the full article →

Video: Kessler Says LinkedIn Sees `Opportunity’ in IPO Market

January 28, 2011

Jan. 28 (Bloomberg) — Scott Kessler, head of technology equity research at Standard & Poor’s, discusses LinkedIn Corp.’s decision to go public with an initial share offering. He speaks with Betty Liu and Sheila Dharmarajan on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Read the full article →

Wall Street’s Collapse To Be Mystery Forever

January 28, 2011

To get to the heart of what went wrong with the report released yesterday by the Financial Crisis Inquiry Commission, check out its account on page 254 of how the largest investor in a cash fund managed by Bank of America suddenly pulled out $20 billion of its money in November 2007.

Read the full article →

Video: BankUnited Raises $783 Million in Initial Offering

January 28, 2011

Jan. 28 (Bloomberg) — BankUnited Inc., the lender acquired by a group of buyout firms after it was shut by regulators in 2009, raised $783 million in an initial public offering, or 19 percent more than it sought. Bloomberg’s Cristina Alesci reports. (Source: Bloomberg)

Read the full article →

Video: Carney Says Canadian Dollar `Strength’ Threatens Growth

January 28, 2011

Jan. 28 (Bloomberg) — Bank of Canada Governor Mark Carney talks about the risk to growth from his country’s currency and the impact of rising food prices. Carney also discusses Canadian monetary and fiscal policy. He speaks with Bloomberg Television’s Erik Schatzker at the World Economic Forum meeting in Davos, Switzerland.

Read the full article →

Video: Nooyi Says Comodity Price Volatility Is `Here to Stay’

January 28, 2011

Jan. 28 (Bloomberg) — Indra Nooyi, chief executive officer of PepsiCo Inc., discusses the outlook for commodity prices. Nooyi, speaking with Erik Schatzker on Bloomberg Television’s “In the Loop” at the World Economic Forum in Davos, Switzerland, also talks about the company’s acquisition strategy and the U.S. economy. (Source: Bloomberg)

Read the full article →

Nancy F. Koehn: Davos Diary: Day Three

January 28, 2011

The day dawned clear and cold in Davos, but most participants in the World Economic Forum here had little bandwidth for the weather. Typically, Thursday and Friday are the days when some of the most powerful leaders come to town. This means larger entourages (and bigger traffic jams to accommodate convoys), higher energy levels in the Congress Center, the Forum’s main hall, and greater attention to who’s who in formal sessions and those behind closed doors (I, for one, could not help staring when former U.S. president Bill Clinton walked by as I was standing at one of the two coffee bars). During the lunch break, the substantive buzz was about French president Nicolas Sarkozy’s morning address and his unflagging support for the European single currency in the wake of Greece and Ireland’s pressing fiscal problems and broader mass protests. Over a cheese sandwich, I eavesdropped on an animated conversation about how important it was (or was not) for Sarkozy to send such a signal at this moment. I left this debate midstream to scurry on to an interactive session on Shakespeare’s lessons for leadership. For more than an hour, about 50 men and women analyzed several passages in the Bard’s plays, looking for insights and assorted “takeaways” to apply in our respective lives. The arts, our discussion leader explained, appeal to the heart as well as the head, so the lessons we glean from understanding literature and other similar pursuits stick (“Here, here,” I said under my breath, relieved to find myself in a professional setting without PowerPoint slides). I have long been drawn to Shakespeare’s stories, particularly the characters that shape and drive these stories. In my leadership work with MBA students and executives, I often use examples from Shakespeare, finding that these instances resonate with most people. As our discussion leader said, we “learn best from stories.” The conversation in the afternoon about three Shakespeare excerpts had a number of takeaways. The passage from Hamlet , for example, in which Polonius, a courtier in Hamlet’s uncle’s court, sends his son, Laertes, off to school in France, is full of important lessons for business and life, including: listen more than you speak; make friends carefully and keep those you have close; be careful with your personal finances; dress well, but do not be flashy; and perhaps most significant, “to thine own self be true.” A second excerpt, from Julius Caesar , between two angry Roman leaders, Brutus and Cassius, dealt with conflict management. Avoid getting personal in stressful encounters, don’t assume another person’s motivations, and be mindful of outside influences were several of the insights from this dramatic exchange. The final, and most famous excerpt, was the St. Crispin’s Day speech that Henry V delivers near the end of the play named after him. The short speech, intended to rally the English king’s troops before the Battle of Agincourt, is elegant and moving. Behind the power and unforgettable language are a number of lessons for those trying to motivate others in difficult situations: appealing to a worthy mission that is bigger than any one individual, instilling pride in colleagues and comrades, bringing the future into the present to help others understand the broader impact of what they are doing, offering one’s team a choice about whether to invest in a particular undertaking, and fostering a sense of collective enterprise. I left the session engaged and heartened, not only by what I had learned from the session but by how I had learned it. Late in the afternoon, I filed into the largest auditorium in the Congress Hall to hear a conversation between Bill Clinton and Klaus Schwab, the founder and executive chairman of the World Economic Forum. For 45 minutes, Clinton answered a range of questions about Haiti, the global economy, job creation, U.S. politics, and the shifting geopolitical order. He looked thinner–by some measure–than he has and as a result perhaps a bit less robust. But his answers were thoughtful, confident without being arrogant, and consistently supported by relevant facts. At several moments during his remarks, I marveled at his speed and breadth of thinking, all powered by great engagement. Unconstrained by the limits imposed on officeholders, Clinton talked about the mistakes the Democratic Party made in the midterm elections by not offering up another narrative to that told (relentlessly) by the political right. When asked for his advice to leaders, he said individuals should not just talk about particular challenges; they should go out and do something, no matter how small, about these challenges. The world, he continued, is “so hungry for examples of things that work.” I was most struck by Clinton’s implicit call for a revised version of capitalism, one that accounted for the interconnectedness of our global village, that no longer regarded aspects of economic activity such as environmental concerns as externalities but rather as critical parts of a viable business model, and that recognized a broader breadth of stakeholders than do older, narrower conceptions of free markets. Late in the evening, a friend in Boston sent me a text message about a small explosion here in a Davos hotel. It was the first I had heard of this although the blast, which happened in an underground storage area of the Morosani Posthotel, occurred about 9 a.m. Blessedly, no one was injured, and authorities are saying little about causes or circumstances. Security will no doubt be very tight for the remainder of this gathering. Yesterday, U.S. Secretary of the Treasury Timothy Geithner is speaking in the morning. And in the afternoon–in what was the Forum highlight for me–so did Bono. Coming up: Stay tuned for my World Economic Forum recap on Monday and keep following my tweets live from the event.

Read the full article →

Economic Growth Still Not Good Enough To Dent Jobs Crisis

January 28, 2011

The American economy sped up in the last three months of 2010, but economic growth is still dramatically short of where it needs to be to make a significant dent in the unemployment rate. Gross domestic product — the output of goods and services produced by the American economy — grew at a rate of 3.2 percent annual rate in the last quarter of 2010 according to the Commerce Department’s report . This is good news, but not, as Josh Biven, an economist at the Economic Policy Institute, sees it, good enough. “The headline number — the 3.2 percent growth — if we sustain that rate of growth throughout 2011 that would do very little to push down the unemployment rate,” Biven said. Three percent growth is what you need just to keep the economy stable. To see any kind of real improvement, as Biven calculates, the GDP would need to be improving at a rate of 5 percent, month-over-month for an entire year — and that would only lower the unemployment rate by one percentage point. “The growth is nowhere near fast enough to start pushing down the overall unemployment,” he said. Bart van Ark, chief economist at the Conference Board, likewise does not see much to celebrate. In a widely circulated email, van Ark wrote: Continued woes in the housing market and weakness in the labor market will prevail throughout 2011. We anticipate a post-holiday pullback in consumer spending, a rise in the personal savings rate, further cuts in spending by state and local municipalities, and a deceleration in business investment in inventories in the current and next quarters. Consequently, economic growth will register only a sluggish 2 percent in the first half of 2011. One positive sign inside the Commerce Department’s report was picked up by the Wall Street Journal ‘s Kelly Evans, who tweeted : Wow. Excluding inventories, GDP up 7.1% in Q4 – most since 1984. Now that’s more like a recovery! (Evans was referring to ” real final sales ,” which discounts the effect that increased inventory levels — essentially unsold goods — has on GDP.) But Biven, at least, doesn’t see that 7.1% percent as a very accurate indicator of economic recovery. “The 3.2 percent is the better measure of the trend of the economy,” he said. “I don’t expect inventories are going to take away a bunch of growth again in coming quarters. There are reasons to think the 3.2 percent number is a little closer to what the economy is actually doing right now.” Steve Benen, at Political Animal , summarizes the situation nicely: While better growth is obviously good news, 3.2% is still only modest growth. Under normal circumstances, this would point to a fairly healthy economy, humming right along. But given the severity of the Great Recession, our circumstances are anything but normal — to have a robust recovery and make a real dent in the unemployment rate, we’ll still need to do better than this. Accelerating growth is encouraging, but if you hear policymakers and pundits today use this as an excuse to justify hitting the brakes, please know that they’re completely wrong. We’re slowly getting out of a ditch — pursuing massive budget cuts, taking money out of the economy, and deliberately putting people out of work (i.e., the vision embraced by House Republicans) would very likely push us backwards in a hurry.

Read the full article →

Nelson D. Diaz and Neil M. Schiller Elected Shareholders at Becker & Poliakoff

January 28, 2011

FT. LAUDERDALE, FL–(Marketwire – January 28, 2011) – Becker & Poliakoff, a diversified commercial law firm with more than 125 attorneys in 13 Florida offices, New York City, New Jersey, Nassau (Bahamas) and Prague, today announced that Nelson D. Diaz and Neil M. Schiller have been elected as shareholders of the firm. Both Mr. Diaz and Mr. Schiller are attorneys in the firm’s Government Law & Lobbying practice.

Read the full article →

Video: Cairo Protests Erupt Over Demand to End Mubarak’s Rule

January 28, 2011

Jan. 28 (Bloomberg) — Clashes erupted as Egyptian authorities tried to prevent demonstrations in Cairo, where protesters chanting “liberty” and “change” assembled to demand the end of President Hosni Mubarak’s 30-year rule. Bloomberg’s Mahmoud Kassem reports. (Source: Bloomberg)

Read the full article →

End Of Cheap Food Era May Be Near

January 28, 2011

CHICAGO (By KT Arasu) – U.S. grain prices should stay unrelentingly high this year, according to a Reuters poll, the latest sign that the era of cheap food has come to an end. U.S. corn, soybeans and wheat prices — which surged by as much has 50 percent last year and hit their highest levels since mid-2008 — will dip by at most 5 percent by the end of 2011, according to the poll of 16 analysts. The forecasts suggest no quick relief for nations bedeviled by record high food costs that have stoked civil unrest. It means any extreme weather event in a grains-producing part of the world could send prices soaring further. The expectations may also strengthen importers’ resolve to build bigger inventories after a year in which stocks of corn and soybeans in the United States — the world’s top exporter — dwindled to their lowest level in decades. While grain prices remain below the historic highs of 2008, they could remain stronger for longer this year as intense competition among crops for land use and depleted grain bins make it an even greater challenge to restore equilibrium. “Even if we have a good year, we are not going to have the inventories we’ve seen before. I really do think the time of cheap food prices is over, and that’s just it,” said analyst Chris Mann of Traders Group Inc in Chicago. “Everything is set to the point where supply equals demand right now. But if you pull one thing out of it, or if you disrupt the equation in some little way or tweak it, I think, with inventories as tight as they are, it will really have an impact on prices. A drought, a flood, anything,” said Mann. A series of shocks brought the grains market to the brink last year. A summer drought in Russia led to a suspension of grain exports, rains in Australia downgraded the quality of its wheat crop, and a lack of rain cut Argentine corn output. China bought near-record volumes of U.S. corn, and demand for corn-based ethanol surged. Now prices must remain high to encourage U.S. farmers to plant more corn and soybeans in the spring, and traders will be on tenterhooks to see whether crops in the U.S. are enough to correct the deficit in inventories. POLL POINTS TO HIGH PRICES The average forecast of 16 grain analysts showed that Chicago Board of Trade corn futures will end this year at $5.96 per bushel, down eight percent from Thursday’s close of $6.50-3/4 and down five percent from the end of 2010. Corn futures posted the best gains among grains and oilseeds last year, surging 52 percent as U.S. stockpiles fell to the lowest in 15 years in the wake of strong demand from the ethanol industry and steady exports after the Russian drought. Wheat futures were forecast at an average $7.93 per bushel, down 6 percent from Thursday’s close of $8.46-1/4 and virtually unchanged from the end of 2010. Wheat futures surged 47 percent last year amid the crop damage. Soybean futures were forecast at an average of $13.20 per bushel, down 6 percent from Thursday’s close and down 5 percent from the 2010 close. Soybean futures rose 34 percent last year for the second straight year of increases. Prices for corn and soybeans topped out at 2-1/2 year highs last week, while wheat hit a 29-month high on Thursday. WORLD WANTS MORE GRAINS Another year of high grain prices could exacerbate the problem of food price inflation. Surging food prices have taken center stage with policy makers, especially in commodities-dependent nations like China and India — home to one-third of the world’s population. Both countries have raised interest rates in a bid to rein in inflation. Some analysts believe monetary tightening could reduce demand for commodities as the cost of capital rises, but others say importing countries, especially China and India, need to keep buying for consumption and reserves. “As food inflation becomes a bigger issue in the lesser-developed countries, the global pipeline for food commodities is expanding. The world wants to own a little more inventory,” said grains analyst Terry Roggensack of The Hightower Report in Chicago. For North African countries like Algeria, the rush to import grains, particularly in the past two weeks, has been fueled by concerns about how to reduce populist anger over rising food costs that has led to riots. With the stepped-up demand from North Africa and the Middle East whittling away at global wheat stocks, there is no room for error with the winter wheat crop in the United States that was planted last fall and will be harvested in the summer. the same goes for the wheat crops in China — the world’s largest grower. “We are not in a good situation going into February and March in China and in the U.S., so wheat is on the verge of a real scare,” Roggensack said. (Additional reporting by Julie Ingwersen, Michael Hirtzer and Mark Weinraub; Editing by David Gregorio) Copyright 2010 Thomson Reuters. Click for Restrictions .

Read the full article →

Video: Herrmann Says U.S. Economy Poised for Growth in 2011

January 28, 2011

Jan. 28 (Bloomberg) — John Herrmann, senior fixed-income strategist at State Street Global Markets, discusses the report on U.S. fourth-quarter gross domestic product and the outlook for the economy. The U.S. economy accelerated in the fourth quarter of 2010, driven by the biggest gain in consumer spending in more than four years and rising exports. Herrmann speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (This is an excerpt of the full interview. Source: Bloomberg)

Read the full article →

Video: Schuster Says LinkedIn Valuation Should Be $1.6 Billion

January 28, 2011

Jan. 28 (Bloomberg) — Josef Schuster, founder of Chicago-based IPOX Schuster LLC, discusses LinkedIn Corp.’s filing for an initial public offering. The largest professional-networking site plans an IPO after turning a profit in the first nine months of last year and more than tripling revenue between 2007 and 2009, it said in a filing yesterday with the U.S. Securities and Exchange Commission. Schuster speaks with Betty Liu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Read the full article →

Symphony Technology Group Appoints Marshall Haines Managing Director as Firm Steps Up Investing Pace

January 28, 2011

PALO ALTO, CA–(Marketwire – January 28, 2011) – Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology-enabled services companies, today announced that it has hired Marshall Haines as Managing Director. Haines, who joins STG from Williston Financial Group, where he was Chief Operating Officer, will focus on sourcing and executing investments as STG begins to increase its investment pace.

Read the full article →

Symphony Technology Group Appoints Marshall Haines Managing Director as Firm Steps Up Investing Pace

January 28, 2011

PALO ALTO, CA–(Marketwire – January 28, 2011) – Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology-enabled services companies, today announced that it has hired Marshall Haines as Managing Director. Haines, who joins STG from Williston Financial Group, where he was Chief Operating Officer, will focus on sourcing and executing investments as STG begins to increase its investment pace.

Read the full article →

Video: U.S. Economy Grew 3.2 Percent in Fourth Quarter of 2010

January 28, 2011

Jan. 28 (Bloomberg) — U.S. gross domestic product climbed at a 3.2 percent annual pace from October through December, falling short of the 3.5 percent median forecast of 85 economists surveyed by Bloomberg News and restrained by the biggest drag from inventories in two decades. Betty Liu reports on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

Read the full article →

Video: Accel’s Breyer Says He Wouldn’t Take LinkedIn Public Now

January 28, 2011

Jan. 28 (Bloomberg) — Jim Breyer, managing partner at Accel Partners, discusses LinkedIn Corp.’s plan to raise as much as $175 million in what’s likely to be the first public offering for a major U.S. social-networking site. Breyer, speaking with Erik Schatzker at the World Economic Forum in Davos, Switzerland, also talks about Facebook Inc.’s valuation and the outlook for Google Inc. (Source: Bloomberg)

Read the full article →

Video: Blair Says U.K. Must Cut Deficit Without Choking Economy

January 28, 2011

Jan. 28 (Bloomberg) — Former U.K. Prime Minister Tony Blair talks about Britian’s deficit cuts and the Middle East peace process. Blair also discusses banking regulation and the health of Nelson Mandela. He speaks with Andrea Catherwood and Bloomberg Television’s “The Pulse” from the World Economic Forum meeting in Davos, Switzerland.

Read the full article →

Video: Gogel Says Clayton Dubilier May Hold 2 or 3 IPOs in 2011

January 28, 2011

Jan. 28 (Bloomberg) — Donald Gogel, chief executive officer of Clayton Dubilier & Rice LLC, discusses the private equity market. Gogel speaks with Erik Schatzker on Bloomberg Television’s “InsideTrack” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

Video: Pagliuca Says U.S. Must `Attack’ Deficit to Spur Growth

January 28, 2011

Jan. 28 (Bloomberg) — Stephen Pagliuca, managing director at Bain Capital Partners LP, discusses the U.S. budget deficit and investment strategy. Pagliuca talks with Erik Schatzker on Bloomberg Television’s “InsideTrack” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

Video: Rogoff Says U.S. Growth `Firming,’ Debt an `Overhang’

January 28, 2011

Jan. 28 (Bloomberg) — Kenneth Rogoff, a professor at Harvard University, and Raghuram Rajan, a professor at the University of Chicago, discuss the outlook for the U.S. and global economies. Rogoff and Rajan speak with Erik Schatzker on Bloomberg Television’s “InsideTrack” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

Video: Investor Poll Says Facebook Overvalued at $50 Billion

January 28, 2011

Jan. 28 (Bloomberg) — Facebook Inc. isn’t worth $50 billion, according to a poll of global investors. Sixty-nine percent of investors say Facebook is overvalued after Goldman Sachs invested $450 million in a deal that put the company’s worth at $50 billion, according to the quarterly poll of 1,000 Bloomberg customers who are investors, traders or analysts. Bloomberg’s Deirdre Bolton reports. (Source: Bloomberg)

Read the full article →

Video: Sternlicht Says Starwood `A Little Nervous’ About Rates

January 28, 2011

Jan. 28 (Bloomberg) — Barry Sternlicht, chief executive officer of Starwood Capital Group LLC, discusses the distressed real-estate market. Sternlicht talks with Erik Schatzker on Bloomberg Television’s “InsideTrack” at the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)

Read the full article →

Video: John Paulson Said to Have Made $5 Billion in 2010

January 28, 2011

Jan. 28 (Bloomberg) — John Paulson made a personal profit of $5 billion in 2010 after making $4 billion in 2007, the Wall Street Journal reported, citing people close to his investment firm Paulson & Co. Inc. Bloomberg’s Deirdre Bolton reports in today’s Movers & Shakers. (Source: Bloomberg)

Read the full article →

US Dollar sets Stage for Larger Reversal Ahead of NFP Result

January 28, 2011

US Dollar sets Stage for Larger Reversal Ahead of NFP Result

Read the full article →

Canadian Dollar At Risk of Declines on Waning Momentum

January 28, 2011

Canadian Dollar At Risk of Declines on Waning Momentum

Read the full article →

Dollar’s Slide Validated by Fed’s Dovishness but Risk May Compensate

January 28, 2011

Dollar’s Slide Validated by Fed’s Dovishness but Risk May Compensate

Read the full article →

British Pound To Face Headwinds As Growth Prospects Deteriorate

January 28, 2011

British Pound To Face Headwinds As Growth Prospects Deteriorate

Read the full article →