tour

Jeff Ma: A Christmas Carol – Silicon Valley Style

by on August 2, 2010

In the last two weeks, my book tour brought me to Microsoft, Google and Facebook. I joked to friends that I was having my Ebenezer Scrooge moment and visiting the Ghost of Technology Past, Present and Future. Appropriately my first visit was to the Future and Facebook. This was my second time speaking at Facebook and as was the case the first time, I spoke to a packed house. The Facebook crowd was alarmingly young. Certainly their reputation is such but seeing is believing and I was at least two standard deviations above the median age. (I’m 37) The most interesting part of my visit to Facebook came when I started to discuss loss aversion in blackjack. Defined as

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Jeff Ma: A Christmas Carol – Silicon Valley Style

Bill Cosby & Jell-O: Together Again

by on May 17, 2010

NEW YORK — Kraft Foods is freshening up the image of its Jell-O brand by pairing up with an old friend. Comedian Bill Cosby joins the gelatin and pudding brand again after a 10-year hiatus, but this time he’ll be behind the camera as part of the brand’s biggest marketing effort ever. The comedian, whose work with Jell-O dates to 1974, will be an executive producer for the “Hello Jell-O” campaign, which starts with national advertisements on Monday. In return, Jell-O will be the presenting sponsor of Cosby’s new weekly Web series called “OBKB.” On the show he interviews children in the style of the classic show “Kids Say the Darndest Things.” “You watch TV, all these reality shows and profanity and things like that, we need to show the heart and the laughter that children have,” he said in an interview. Cosby last appeared in a Jell-O ad in 1999, but still hears from people about the pairing and from adults who starred with him as children. He and Jell-O decided he would be behind the scenes in the new campaign. Cosby will help kick off a 22-city tour next month in Los Angeles to find the country’s best giggle, which will be featured in a television ad. He’ll also do radio interviews to promote the tour, said Cindy Chen, director of Jell-O for Kraft. The first of the 10-minute episodes of “OBKB” will air May 31 on Cosby’s Ustream channel, . The title comes from how the friend he modeled the character “Mush Mouth” on says “okay.” http://www.ustream.tv/billcosby Jell-O’s multimillion-dollar campaign is its biggest ever. It’s also updating its logo with a smiling, new face that will appear on print, online and in TV ads that show people disrupting everyday activities such as work with cups of Jell-O. Kraft, based in Northfield, Ill., is trying to breathe new life into the gelatin and pudding market, which it dominates. Shoppers are switching from branded products to store brands and skimping on purchases to save money. Sales volume fell more than 6 percent each for Jell-O gelatin and pudding in the 52-week period ending in mid-April, excluding sales in Wal-Mart and club stores, according to SymphonyIRI Group, a Chicago market research firm.

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Bill Cosby & Jell-O: Together Again

Boston Rally Featuring Palin With Tea Party Fails to Draw Senator Brown

April 14, 2010

By Tom Moroney April 14 (Bloomberg) — When Sarah Palin rolls into downtown Boston for a rally today, she’ll be greeted by Tea Party activists and a brass band playing Sousa marches. Absent will be U.S. Senator Scott Brown and at least one other top state Republican. They say they’re too busy to attend the 10 a.m. rally on Boston Common. Local organizer Christen Varley, who heads the Greater Boston Tea Party , says the absentees are being pragmatic. “How can Scott Brown stand up on the stage with Sarah Palin and not get skewered for it by the ridiculous mainstream media?” asked Varley, 39. For a grassroots movement dedicated to eliminating what it describes as big-spending liberals in Washington, holding the rally in the heavily Democratic Boston — site of the first Tea Party in 1773 — represents an opportunity to tweak the opposition, said Tea Party Express Chairman Mark Williams. “Boston is the cradle of democracy,” said Williams, 54, talking earlier this week on his cell phone from a Tea Party bus headed to Buffalo. “It’s also the cradle of the Looney Tunes left-wing.” Such talk coupled with Palin’s appearance may not play well for Republicans in Massachusetts, where 62 percent voted in 2008 to elect Democrat Barack Obama president, said David Paleologos , director of the Suffolk University Political Research Center in Boston. Low in Poll Poll numbers among Massachusetts voters for Palin, the former Alaska governor who was the Republican 2008 vice presidential nominee, are low, Paleologos said. Her unfavorable rating was 60 percent, her favorable rating 25 percent in a Suffolk poll Jan. 14, five days before Brown’s victory in a special election. Brown’s favorability among registered Republicans was 91 percent, compared with 51 percent for Palin. Among registered independents, Brown outpaced Palin 66 percent to 28 percent. The voters with no party affiliation are key, Paleologos said. They represent the largest bloc in Massachusetts, at 51 percent, while Democrats are at 37 percent and Republicans just under 12 percent. “The Republicans are well aware of these numbers” and of Palin’s low showing with independents, Paleologos said. “The decision to go or not go to the rally is calculated,” he said. Busy in Washington Gail Gitcho, Brown’s communications director, said the senator is skipping the rally because he recently returned from Afghanistan and needs to stay abreast of legislative matters in Washington. “While he is unable to attend Wednesday’s event, the senator appreciates the strong grassroots support he received from a wide range of individuals, including those who are part of the Tea Party movement,” according to a statement released by Gitcho. Varley said Tea Party volunteers “worked their little hearts out to get Brown elected” to complete the term of the late Senator Edward Kennedy , a Democrat who held the seat for almost 47 years. Still, there are no hard feelings, Williams said. “He’s got a half-century of Kennedy damage to undo,” he said. “There’s no time for flying around, attending celebrity events.” In addition to Brown, 50, Republican gubernatorial candidate and former health-care executive Charles Baker will forgo today’s rally, according to spokesman Rick Gorka. Baker will be making stops in western Massachusetts that were scheduled weeks ago. Showing Up Among those attending will be state Treasurer Timothy Cahill , a Democrat turned independent candidate for governor, who welcomes the opportunity to meet potential supporters, said campaign spokeswoman Amy Birmingham. Also going is Christy Mihos , who sought the governorship in 2006 as an independent and is running now for the office as a Republican. The gubernatorial election is Nov. 2; Brown will be up for election in 2012. “I’m thrilled to be with Tea Party and any people we can attract into the Republican Party to get some votes,” Mihos said in a telephone interview. “It’s a huge tent.” The state’s Democratic governor, Deval Patrick , who is seeking re-election, didn’t immediately respond to an e-mail asking if he would attend. TV Campaign Earlier this month, the Tea Party started a television and radio campaign in Michigan against nine-term Democratic Representative Bart Stupak ; he announced his retirement April 9. Stupak drew the anger of the group by voting for President Barack Obama’s health-care initiative. The Tea Party kicked off its current cross-country tour March 27 in Searchlight, Nevada, hometown of Senate Majority Leader Harry Reid , a Democrat up for re-election this year. The activists gathered in Searchlight two days after Congress cleared the last aspect of the health-care overhaul measure for Obama’s signature. Palin, 46, the most recognized face on the tour, took aim at Obama at the Nevada event, urging the 35,000 in the audience to ask his supporters: “So how is that hopey, changey thing working out for you?” To contact the reporter on this story: Tom Moroney in Boston at tmorrone@bloomberg.net .

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Gates Sees Afghan War Gains, Risks as Fight Expands in Taliban Heartland

March 9, 2010

By Viola Gienger March 9 (Bloomberg) — Defense Secretary Robert Gates heard from front-line participants in the Afghan war today, pinning awards for bravery on U.S. soldiers and Marines and shaking hands with farmers selling goods in a revived market. Gates flew to the southern province of Kandahar on his second day in Afghanistan to meet with commanders and visit a forward operating base that has borne heavy casualties and will play a role in the war’s next major offensive. He then traveled to a combat post in neighboring Helmand Province, where a re-opened mud-hut market in the town of Now Zad illustrates U.S. hopes of guaranteeing enough security in most of Afghanistan to restore commerce and a semblance of normal life. “Essentially for four years, that town was a complete ghost town. There wasn’t anybody there,” Gates told reporters traveling with him to the base flanked by mountains with patches of fertile, green farmland in a distant valley. U.S. Marines working with Afghan soldiers and British troops in Operation Cobra’s Anger in December wiped out the insurgents who controlled the area, according to commanders. The market, made of the adobe-like material common in rural Afghanistan, now has about 15 shops selling juice and produce such as potatoes. Residents are beginning to return to the town, once the second-largest in the province. The operation became a model for an offensive the NATO-led coalition in Afghanistan is wrapping up in Marjah, farther south in Helmand Province. That, in turn, provides lessons for a bigger and more complex operation being planned in Kandahar, the heartland of the Taliban. Security Worries Now Zad also shows the difficulties facing international organizations in supporting development after areas are cleared of insurgents and security improves. Gates heard appeals from the market stall operators in the town for faster demining of roads so they can get more of their goods to markets elsewhere and customers can come to them. “I feel reinforced the path we’re on is the right path,” Gates said after the visit. It also is “going to take a while, and it’s going to be complicated.” Afghan Brigadier General Muhiudin Ghori, who accompanied Gates on his tour, agreed change would take time, in part because of the low levels of education and literacy in his country. Afghan and American troops have formed a “brotherhood,” he said in an interview, speaking through an interpreter. They eat together, work together, fight together, and ties are growing “step by step.” Combat Intensifies The risks are climbing for American troops. Gates awarded two Silver Stars in Kandahar and a Purple Heart in Helmand Province. One of the Silver Star recipients, Lieutenant Colonel John Morgan of Virginia Beach, Virginia, led a group of attack and armed-reconnaissance aircraft in August to rescue an ambushed bomb-clearing patrol. The Pentagon chief also visited the 1st Battalion, 17th Infantry Regiment, which has lost 22 soldiers and seen 62 wounded in seven months on the ground. The unit was diverted from a planned mission in Iraq and was deployed last year to Afghanistan, said battalion commander Lieutenant Colonel Jonathan Neumann. The switch was part of President Barack Obama ’s shift of troops after taking office. The battalion’s new charge was to secure the northern approach to Kandahar City, which included the pomegranate- and wheat-growing Arghandab River Valley, the site of an irrigation dam built with U.S. funding in the 1950s. That meant scaling tall mud walls the farmers use to delineate the property so the soldiers could avoid roads and other areas littered with roadside bombs. ‘Fight Our Way’ “We really had to fight our way to get to the population,” Neumann told reporters traveling with Gates, illustrating his remarks with a computer-slide presentation. U.S. soldiers intercepted militants earlier today who were planting bombs on a route into a village that was going to be used by a medical unit to assist villagers, Neumann said. The action by the reconnaissance platoon prevented an aid effort “from being interrupted by Tommy Taliban,” Neumann said, using a nickname for the enemy fighter. Gates assured the soldiers that he had personally read a memo that their commander had written on improvements needed to the Stryker combat troop-transport vehicle, and he said he would move “urgently” on the recommendations. “You all have had a very tough tour here,” Gates told them in front of a cement block carved with the names of those who died. “You’re in an area that once again is going to be important, part of a decisive phase in this campaign, and once again you will be the tip of the spear.” Gates cautioned against raising expectations too fast. “It’s a poor country to start with and has been through 30 years of war,” he told reporters. “It seems to me, just looking at it, somebody having a roof over their head and being able to work their farm and send their children to school — for a lot of Afghans today sounds like a pretty good life.” To contact the reporter on this story: Viola Gienger in Now Zad, Afghanistan, at vgienger@bloomberg.net

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Obamas Send Holiday Wishes to Troops at War, Ask Americans to Offer Thanks

December 25, 2009

By Roger Runningen Dec. 25 (Bloomberg) — President Barack Obama and First Lady Michelle Obama issued a joint “Merry Christmas” greeting yesterday and called upon Americans to remember U.S. soldiers and their families during the holiday season. “To all our soldiers, sailors, airmen, Marines and Coast Guardsmen — I have no greater honor than serving as your commander in chief,” Obama said in his weekly radio and Internet address, joined by his wife. “I’ve been humbled, profoundly, by patriots who have made the ultimate sacrifice for our freedom.” The first family arrived in Hawaii yesterday for a ten-day vacation. The Obamas are staying in a rented house on Oahu’s north shore, about 30 minutes from Honolulu. The president planned no public events during his stay. As part of his strategy to thwart a resurgence of the Taliban in Afghanistan, Obama has ordered 30,000 more troops to deploy there in the coming months. That will bring the total of U.S. troops in Afghanistan to about 100,000. The number of soldiers in Iraq has fallen to about 110,000 as of Dec. 21, said Major John Redfield, a Defense Department spokesman. The First Lady urged Americans to offer a helping hand to military families. “If you live near a military base, you can reach out through your workplaces, your schools, your churches,” she said. “There are so many ways to help — with child care, with errands, or by just bringing over a home-cooked meal.” Kids can make a greeting card for a soldier, adults can send a care package or a pre-paid phone card “that makes the tour a little easier,” the president said. “Every American can do something to support our troops, even if it’s as simple as just saying ‘thank you,’” Obama said. Republican Message In the Republican address, U.S. Representative Duncan Hunter of California joined the Obamas in offering a tribute to the U.S. armed forces. “Thoughts of home remind us of why we serve,” Hunter said. “Our hope is that as a result of this determination and sacrifice, we will never again see our cities and citizens under attack.” Hunter, 33, served in Iraq as a Marine and in 2008 was elected to succeed his father in a San Diego-area House district. On the domestic front, Hunter described a “difficult Christmas” because of an unemployment rate that stood at 10 percent in November. “After all the promises and all the spending we’ve seen out of Washington this year, out-of-work families are right to be asking, ‘Where are the jobs?’” Hunter said. He said the administration in the new year should avoid damaging the economy with “misguided efforts to create new laws that will cost even more jobs.” Such efforts include “the ‘cap and trade’ national energy tax” and “the government takeover of health care,” he said. To contact the reporter on this story: Roger Runningen in Washington at rrunningen@bloomberg.net

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Domino’s Pizza, Gym Club Share Sales Tap India’s Consumer Spending Wave

December 23, 2009

By Pooja Thakur Dec. 24 (Bloomberg) — Domino’s Pizza Inc. ’s Indian franchise, a gym chain and a developer of games for Sony Corp.’s PlayStation plan to sell shares in India, riding a boom in spending in the world’s second-fastest growing major economy. Jubilant Foodworks Ltd. , operator of Ann Arbor, Michigan- based Domino’s Pizza stores, will sell a 36 percent stake and animator DQ Entertainment (International) Ltd. will offload 25 percent, among 48 companies planning first-time share sales, according to data compiled by Bloomberg. Talwalkars Better Value Fitness Ltd. intends to sell a 25 percent holding in the next three months, adviser India Infoline Ltd. said. An education company, tour operator and chain of resorts generated three of the top four returns for Indian IPOs this year, outperforming the biggest rally in stocks in 18 years. Consumers drive half the growth in India, one of only two among the world’s 15 largest economies that expanded last quarter. “Investors like the consumer play stories,” Donald D’Souza , investment banking president at India Infoline, said in a telephone interview in Mumbai. “India has a huge consumption theme where discretionary spending power offers investors a more stable and sustainable business model.” Indian companies have announced plans to raise at least $5 billion next year, compared with $16 billion in 2009, according to Bloomberg data. Share sales may rise to $20 billion by the end of 2010, according to D’Souza. Demographic Play Consumer-related IPOs include Hathway Cable & Datacom Ltd. , India’s largest cable television operator, and Cantabil Retail India Ltd., a branded apparel maker with about 400 stores. “These industries are a play on the country’s demographics,” said Jayesh Shroff , who helps manage $8.3 billion in assets at SBI Asset Management Co. in Mumbai. “These businesses of gyms, pizza chains are industries of the young people and hugely leveraged on this demographic segment.” SBI bought shares in Cox & Kings (India) Ltd. , the tour operator partly owned by a unit of Deutsche Bank AG. The stock has surged 31 percent since the Mumbai-based company raised 6.1 billion rupees last month, the fourth-best return from an IPO. Spending on leisure will increase as the number of households earning at least 600,000 rupees is expected to quadruple to 20 million by March 2014, according to the National Council of Applied Economic Research. Mahindra Holidays & Resorts India Ltd. , owner of the Club Mahindra Holidays brand, returned 48 percent since its 2.8 billion rupee IPO in June, the third best performance for an initial share sale in India. Best Returns Edserv Softsystems Ltd. , a provider of information technology training and placement services, gave investors the best returns from an IPO, jumping 280 percent since its 238 million rupee offer in February. India’s economy will grow at the fastest pace after China among the Group of 20 nations next year, according to the International Monetary Fund. The $1.2 trillion economy expanded 7.9 percent in the three months ended Sept. 30 from a year earlier, the quickest pace in six quarters. Faster growth has attracted the second-highest inflows from overseas investors this year, driving a 79 percent rise in India’s benchmark Sensitive Index , the most since 1991. Jubilant Foodworks, based in New Delhi, will raise funds to add to the 279 stores it operates for the U.S.’s second-largest pizza chain in India and Sri Lanka, according to a filing to the regulator. The India Private Equity Fund (Mauritius) and Indocean Pizza Holding Ltd. that bought stakes in the Pizza chain in 1999 will sell their entire 32 percent holding in the offer, arranged by Kotak Mahindra Capital Co. Hyderabad, India-based DQ Entertainment , an animation and visual effects company that develops games for Microsoft Corp.’s Xbox and Nintendo Co.’s Wii consoles, plans to sell 19.8 million shares in a sale arranged by SBI Capital Markets Ltd. To contact the reporter on this story: Pooja Thakur at pthakur@bloomberg.net

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Woods’s `Indefinite Leave’ Announcement Raises Question of How Long Gone

December 13, 2009

By Michael Buteau Dec. 13 (Bloomberg) — Tiger Woods is leaving golf to tend to a marriage battered by his extramarital affairs, and the sport wonders how long he’ll be away and how it will fare in the meantime. Woods said in a statement on his Web site that his “infidelity” has hurt his family, and he needed to focus on being a “better husband, father and person.” He said he was leaving competitive golf “indefinitely.” Woods, No. 1 in the world in the Official Golf Rankings and the first athlete to make a billion dollars according to Forbes magazine, has won 14 major tournaments, more than any current golfer and second all-time. His popularity shows up in television ratings and sponsorship — the tour’s prize money has almost tripled to $275 million since he turned pro in 1997. “Watching golf without Tiger is like watching the Three Stooges without Curly,” said Scott Becher , president of Coral Gables, Florida-based Sports & Sponsorship Inc. “He’s the spark, the catalyst, he’s a good guy and bad guy all in one.” Woods, 33, is four wins shy of tying Jack Nicklaus’s mark of 18 titles in the four majors: the Masters Tournament, U.S. and British opens and PGA Championship. He hasn’t missed the Masters, scheduled for April 8-11 in Augusta, Georgia, since he was an amateur in 1995. Broken Leg In 12 years on the tour, he has brought fans moments to remember. He won the 2008 U.S. Open in Torrey Pines in a playoff over Rocco Mediate while playing with a broken leg. In 2005, he won the Masters in a sudden-death playoff over Chris DiMarco after his chip shot on the 16th hole sat on the lip of the cup for an instant before rolling in. The 2010 U.S. Open in June will return to California’s Pebble Beach course, where he won by a tournament-record 15 shots in 2000. The British Open will be staged the following month at St. Andrews in Scotland, where Woods won in 2000 at 19- under par, the lowest score ever for the tournament when it was held at the 400-year-old course. “They always say that there’s nobody bigger than the game of golf itself, but right now in these times there is, and it’s him,” John Daly , a two-time major tournament winner, said at a press conference at the Australian PGA Championship . “I hope we get him back soon. Golf needs him.” Daly, who was suspended by the U.S. Tour after repeated problems with alcohol and personal relationships, said he “just could never imagine” what Woods is going through. He said it also cast Woods in a new light. “He definitely screwed up,” Daly said. “I think a lot of people are in shock. Everybody has to realize that Tiger Woods is a human and he was put on a pedestal of being non-human.” Car Crash Woods had been the subject of reports of extramarital affairs following a Nov. 27 car accident outside his home near Orlando, Florida. He and his Swedish-born wife, Elin, have been married for five years and have a 2-year-old daughter and 10- month-old son. His statement on Dec. 11 was the first time he used the word infidelity. He hasn’t appeared in public since the crash. “It may not be possible to repair the damage I’ve done, but I want to do my best to try,” Woods said. Accenture Plc , the Dublin, Ireland-based consulting company that built its marketing around Woods, removed him from its Web site two days ago. Procter & Gamble Co . said yesterday that it will begin phasing Woods out of print and TV ads for its Gillette division. Other companies with marketing ties to Woods, including sportswear maker Nike Inc ., and video-game publisher Electronic Arts Inc ., have said they aren’t changing their media plans or advertising schedules. PGA Tour Response U.S. PGA Tour Commissioner Tim Finchem said in a statement that the tour supports its top draw’s decision and that Woods’s “priorities are where they need to be.” “We look forward to Tiger’s return to the PGA Tour when he determines the time is right for him,” Finchem said. Ticket sales often increase by as much as 20 percent when Woods commits to play in an event, according to tournament organizers. When Woods is in contention to win during weekend play, network viewership rises as much as 50 percent, according to AC Nielsen Corp. “The tour has more to lose than Tiger does in the short term,” Paul Swangard , managing director of the University of Oregon’s sports marketing center, said in a telephone interview. “Any advertiser looking at a media buy in golf would have to take a pause.” The U.S. golf season will begin in Hawaii in the first week of January. Based on his schedule from previous seasons, Woods likely would have played in three tournaments before the Masters in April. Woods plays an average of 18 of the 41 U.S. PGA Tour events each season. CBS, Masters CBS Corp. has broadcast the Masters every year in the U.S. in 1956 on one-year contracts. The event typically draws the highest ratings of any golf tournament. “We’ve obviously done golf tournaments without Tiger before,” Sean McManus , president of CBS Sports and News, told the New York Times. “We’ll adjust, but I guess a lot of it depends on what the definition of the word ‘indefinite’ is.” Geoff Ogilvy , the 2006 U.S. Open champion, said at the Australian PGA Championship that all golfers had a stake in Woods’s story. “If Tiger Woods indefinitely doesn’t play golf,” Ogilvy said, “that’s not good for us.” To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

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Health-Care Bill Faces Traffic Jam as Senate Weighs Debt, Tax Legislation

November 25, 2009

By James Rowley and Brian Faler Nov. 25 (Bloomberg) — Raising the U.S. government’s $12.2 trillion borrowing limit tops an agenda of must-pass legislation that imperils Senate Democrats’ ability to pass a health-care bill this year. As the senators struggle to meet President Barack Obama’s year-end deadline to overhaul the health system, they must also act to keep the government running and prevent a 21 percent drop in payments to doctors who treat Medicare patients. They need to approve measures to avert a Dec. 31 expiration of the estate tax, extend jobless benefits and renew key provisions of the anti-terrorism USA Patriot Act. “Given the practical considerations of the calendar, they will run out of time” this year, said Washington lobbyist Jack Howard , who was an aide to former Senate Republican Leader Trent Lott . Pushing the measure into 2010 may create problems for Democrats because Republicans would have more opportunity to make the overhaul an issue in the congressional election year. Before leaving Washington for a week-long Thanksgiving holiday recess, the Senate held a weekend session and voted 60- 39 on Nov. 21 to begin formal debate on the $848 billion health- care measure. The bill would extend insurance coverage to some 30 million Americans and create a government-run plan to compete with such private insurers as Indianapolis-based WellPoint Inc . and Philadelphia-based Cigna Corp . ‘Now Till Christmas’ Republican Leader Mitch McConnell said it “would take probably from now till Christmas” to deal with all the issues facing Congress. “Instead, we’re spending time trying” to meet “a manufactured deadline” for passing health-care legislation, McConnell said. Senate Democratic Leader Harry Reid is determined to complete health care as soon as possible, said his spokesman, Jim Manley . “We need to plunge ahead on health care while preparing to deal with these other things later on in December,” said Manley. Senate Democratic leaders warned in a Nov. 23 e-mail to lawmakers that “votes could occur at any time during the day and evening, with weekend sessions likely” in December. Delaying Powers Unlike the House of Representatives, the Senate gives the minority party broad powers to delay proceedings. Dick Durbin of Illinois, the No. 2 Senate Democrat, told reporters on Nov. 20 that “delaying tactics by the Republicans” this year repeatedly made it hard to pass legislation quickly. He cited a one-month holdup on an earlier jobless-benefits measure before the Senate approved it 98-0. The debt-limit extension faces a long debate as 11 Democrats want to create a commission to rein in federal spending. “I am not going to vote to extend the debt limit unless we have such a mechanism” to “deal with long-term debt,” North Dakota Democrat Kent Conrad said in a Nov. 20 interview. Republicans will use the debate to discuss ways “to control out-year spending,” said New Hampshire Senator Judd Gregg . His party will propose curtailing the $787 billion economic-stimulus plan. “You got to do something about spending to keep the debt ceiling from having to be constantly increased,” Gregg told reporters on Nov. 19. Keeping Unified Without any Republican support on health care, Reid, a Nevada Democrat, must keep all 60 members of his caucus — 58 Democrats and two independents — unified to shut off debate and pass the legislation. Three Democrats — Ben Nelson of Nebraska, Mary Landrieu of Louisiana and Blanche Lincoln of Arkansas — along with independent Joe Lieberman of Connecticut oppose the creation of a government-run insurance plan. Reid must also forge a consensus on language preventing the use of government funds to subsidize the purchase of insurance that covers abortions. McConnell, a Kentucky Republican, has served notice that his party will seek “lots of amendments.” Getting to a final vote will take time even if Democrats stick together. Reid will have to wait two days each time he moves to cut off debate. Even if those motions pass, Senate rules allow up to 30 additional hours of debate. In 2001, senators spent 20 days debating then-President George W. Bush’s “No Child Left Behind” education bill and cast 44 recorded votes, according to the Senate library. Following the Sept. 11 terrorist attacks, lawmakers spent another 23 days debating legislation to create the Department of Homeland Security. A 2002 energy bill was put to 36 votes during the 25 days it was under consideration. Republican Leverage This year’s long list of obligatory legislation gives Republicans parliamentary leverage over health care, said Conrad, the chairman of the budget committee . “You just have to deal with it, but it makes getting it done in three weeks extraordinarily challenging,” he said. A lack of progress may force Reid to put off the health- care measure as the clock ticks toward New Year’s Eve. While he could resume the debate when Congress returns in January, the measure will still need to be merged with House-passed legislation and approved by both chambers. Democrats don’t want debate over the legislation spilling into the 2010 election season, said Senator John Thune , a South Dakota Republican. “The longer this thing is around, the more people realize what’s in it, the more opposition grows to it,” Thune said. To contact the reporters on this story: James Rowley in Washington at jarowley@bloomberg.net ; we need to add Brian’s name to the tour Brian Faler in Washington at bfaler@bloomberg.net .

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Soderling Upsets Nadal 6-4, 6-4 at ATP Finals; Djokovic Defeats Davydenko

November 24, 2009

By Danielle Rossingh Nov. 24 (Bloomberg) — Robin Soderling , who ended Rafael Nadal’s unbeaten French Open run in May, beat the Spaniard for a second time this year at the ATP World Tour Finals . The 25-year-old Swede won 6-4, 6-4 yesterday in a group match on the second day of the season-ending tennis event at London’s O2 arena. Novak Djokovic fought back to beat Nikolay Davydenko in three sets in the evening match. “It’s a long way to go, but it’s a good start to beat the world No. 2,” Soderling said in a courtside interview after a backhand error by Nadal handed him the victory. After ending Nadal’s unbeaten streak of 31 matches and four titles in the fourth round of the French Open, Soderling lost to top-ranked Roger Federer in the final at Roland Garros. The Swede broke into the top 10 in October and entered his first ATP World Tour Finals as an alternate only last week after former U.S. Open champion Andy Roddick pulled out with an injury. Nadal, who missed the defense of his Wimbledon title mid-season because of knee tendinitis, is a two-time semifinalist at the Tour finals. Using his flat forehand, Soderling put Nadal under pressure from the beginning, moving the six-time Grand Slam champion around the medium-paced court and attacking his forehand. Two consecutive forehand errors on Nadal’s serve handed Soderling the first set 6-4. In the second set, Nadal thumped his chest as he broke serve for 2-1. The Swede immediately got the break back, as the crowd cheered for the Majorcan. Nadal continued to struggle with his ground strokes, uncharacteristically producing more unforced errors, 24, than winners, 18. Djokovic Wins Nadal will play his next Group B match against Russia’s Davydenko, who was beaten 3-6, 6-4, 7-5 by defending champion Djokovic in 2 hours, 46 minutes in a rematch of the 2008 championship decider. The Serb, ranked No. 3 , entered the London finals after winning back-to-back titles in Basel, Switzerland, and Paris. The ATP Finals are played in a group format, with eight players split into two sections. The top two from each advance to the semifinals. Four-time champion Federer and home favorite Andy Murray were both tested before winning their opening matches two days ago. They’ll meet today in Group A. Federer fought back to beat Fernando Verdasco of Spain 4-6, 7-5, 6-1, while Murray opened the event by defeating U.S. Open champion Juan Martin del Potro 6-3, 3-6, 6-2. To contact the reporter on this story: Danielle Rossingh at the O2 arena through the London sports desk at drossingh@bloomberg.net

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Jon Younger: Bruichladdich Secrets to a More Empowered Workforce: Try a Wee Dram

November 19, 2009

The isle of Islay, a two hour ferry ride from the western coast of Scotland, is a great spot for getting away from it all. My older son Josh and I took an extended weekend on the isle to tour the famous scotch distilleries and celebrate his two great achievements of 2009: a PhD from Harvard and his marriage to Megan Wall-Wolff, a marvelous young woman and the love of his life. As we toured Bruichladdich , the last independent distillery on the island, we expected great scotch. We didn’t expect a lesson in how to engage and empower employees. If you ask Bruichladdich’s Managing Director Mark Reynier for the secret sauce of Bruichladdich’s success, he’ll tell you at once and in rapid fire speech: “equal parts of integrity, humanity, authenticity and variety.” But, don’t think for a moment that it’s marketing speak. This humble operation is not lacking in spirit. What makes Bruichladdich a school for how to manage people? First is management’s pride for the 50 employees of the company. The pride is demonstrated by putting employees’ pictures right on the packaging. One product shows the packaging team at work. Another shows the group that makes the great scotch that earned the company its worldwide reputation. Second is ownership. The company was rescued from oblivion some years ago by an investor group headed by Reynier that was smart enough to invite every employee to be an owner of company shares. David Ferguson, the young man who gave us a tour of the distillery, was quick to point out, “I’m an owner. We all are.” Accountability follows when ownership is — and feels — real. Third is the opportunity for employees to be involved and to grow — a hat trick that Bruichladdich makes possible by giving employee/owners the chance to do different jobs. Mary McGregor, the manager of the distillery shop, has worked the filling and packaging line, is actively involved in marketing and advertising, and is an able and enthusiastic salesperson. She and other employees even designed the most recent product label. Fourth is a spirit of innovation. Led by Reynier, the distillery is unafraid to challenge the industry both by returning to traditional methods in designing new scotch products, and also creating eye turning package designs. They call themselves “progressive Hebridian traditionalists,” and it works. In fact, it was named “distillery of the year” in three of the last 10 years — not a small feat. Fifth is a special culture that binds colleagues together and promotes an awesome willingness to help one another. Reynier took a break from a busy day to help Mary tell the company story to Josh and myself. Ferguson excused himself during our tour to help another team member move some material. We saw the same generosity at work on the filling and packaging line, where “mates” cheerfully offered help to one another. Sixth and last is the courage to build a company that competes on the isle of Islay against big companies like LVMH, Diageo and Baccardi that dominate scotch production. More than a decade ago, it was quite the investment — and leap of faith — for a new ownership team to reopen the mothballed distillery and put Bruichladdich back in business. Management continues to demonstrate its courage with a commitment to both marketing and packaging innovation yoked to traditional production methods. Bruichladdich is no throwback to the old days. It is a modern, impressive company that has learned to put pride back in the workplace and a spirit of empowerment that makes it as special as its products. What does your company do to empower and engage employees? Jon Younger is a Partner of The RBL Group , a firm providing consulting and executive education in strategic HR and leadership. Jon leads the Strategic HR practice area, teaches in many executive education programs and is a Director of the RBL Institute. He is co-author, with Dave Ulrich and three other principals at The RBL Group, of ” HR Competencies ” (SHRM, 2007), ” HR Transformation ” (McGraw-Hill, July 2009) and many articles, and last year logged client work in 35 countries.

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Steve Parker: Nissan Leaf EV – Be first to see it in person!

October 29, 2009

Nissan has announced a US national tour of their new pure EV, Leaf, beginning with a first American public showing on November 13th in Los Angeles. Though not yet officially announced, the first public sighting of Leaf at a major auto show will be at the 2010 Los Angeles Auto Show which runs from December 4th through 13th. Leaf is ready for its close-up at the Tokyo Motor Show Much of the talk at this week’s Tokyo Motor Show, the 41st iteration of that extravaganza, held in Makuhari, about ½-hour north of Tokyo, was understandably about EVs, hybrids and various other green technologies. Nissan, however, topped the competition by displaying a production version of Leaf, the only Japanese car maker at the show claiming they’re not just working on a real-world, production EV, but showing one they’ll be making and selling worldwide beginning in 2011. There’s still room for overwrought fun, though. Toyota introduced a production version of their Lexus LF-A supercar, a $375,000, 552-horsepower monster with a 4.8 liter V10 engine. Only 500 will be built in total for the world and production commences in December, 2010. Much more at: www.Lexus-LFA.com. On the other hand, at Tokyo, Lexus displayed a production verison of their new LF-A supercar … not very green, but a helluva lotta fun … what do you think of the car’s looks? Me? I’m not so sure … Here’s the Leaf tour information from a Nissan press release: Nissan North America announced that the Nissan LEAF zero-emission, all-electric car will make its North American debut in Los Angeles on Nov. 13. The Los Angeles showing will be the first time people in the United States will be able to see the five-passenger, five-door, gasoline-free car, which is embarking on a nationwide tour. The Nissan LEAF Zero Emission Tour will make stops in 22 cities, in 11 states, the District of Columbia, and Vancouver, Canada, offering the opportunity for interested drivers, media, civic partners, businesses and university students to learn more about the Nissan LEAF and the benefits of zero-emission driving. Interior of production Leaf Follow the tour, get updates on the final schedule and specific showings, and sign up for more information, at www.nissanusa.com/Leaf-electric-car. Look for the Nissan LEAF to make public appearances in the following areas during these times: Southern California Los Angeles: Nov. 13-17 Orange County: Nov. 18 San Diego: Nov. 19-21 Northern California Berkeley/Walnut Creek: Nov. 23-24 San Francisco: Nov. 25-29 Santa Rosa: Dec. 1 Sacramento: Dec. 1 San Jose: Dec. 3-6 Pacific Northwest Seattle: Dec. 8-12 Vancouver, Canada: Dec. 14-15 Portland, Ore.: Dec. 17-23 Rear 3/4 view of Leaf Southwest Phoenix/Tucson: Dec. 30-Jan. 5 Las Vegas: Jan. 6 Midwest/East Coast Detroit: Jan. 11-13 Knoxville/Chattanooga, Tenn.: Jan. 16 Middle Tennessee: Jan. 19-21 Washington, D.C.: Jan. 26-28 Raleigh, N.C.: Jan. 29 Orlando: Feb. 1-2 Texas Houston: Feb. 5-6 New York New York City: Feb. 9-14 Leaf’s drivetrain Nissan is the only automaker committed to making all-electric vehicles available to the mass market on a global scale. Through the Nissan LEAF Zero Emission Tour, Nissan will be showcasing the electric vehicle and battery technology as well as the company’s zero-emission mobility objectives. Nissan already has partnered on the development of an electric-vehicle infrastructure through partnerships in the State of Tennessee, the State of Oregon, Sonoma County, San Diego, Phoenix, Tucson, Washington D.C., Seattle, Raleigh, and Vancouver. Additional partnerships will be announced in the near future. In North America, Nissan’s operations include automotive design, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. Nissan is dedicated to improving the environment under the Nissan Green Program 2010, whose key priorities are reducing CO2 emissions, cutting other emissions and increasing recycling. Prototype Leaf instrument panel from an earlier version of the car More information on the Nissan LEAF and zero emissions can be found at www.nissan-usa.com/Leaf-electric-car and www.nissan-zeroemission.com (end Nissan release) By the way, those two websites are really fun. Also, while we’re talking about the LA Auto Show and green technology, Green Car Journal (www.GreenCar.com) has announced its five finalists for their 2010 Green Car of the Year award. For the fifth consecutive year, the award will be announced during a press conference at the Los Angeles Auto Show on Dec. 3. The finalists are the Audi A3 TDI, Honda Insight, Mercury Milan Hybrid, Toyota Prius and Volkswagen Golf TDI (Prius was named Japan Car of the Year at the Tokyo Motor Show this past weekend). Will you be lining up to see Leaf in your area? And what do you think of the Green Car of the Year nominees?

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Bankers Give Premium Golf Balls to Clients, Keep Retreads for Themselves

September 24, 2009

By Michael Buteau Sept. 24 (Bloomberg) — Whenever Sheldon Chychrun takes a client for a golf outing, he hands them a sleeve of new golf balls emblazoned with the logo of his employer, Deutsche Bank AG. Chychrun, the 40-year-old head of structured equity sales for Canada at the bank’s Toronto office, then reaches into his bag and tees up a ball bearing a different logo: refinished 2.0. “Budgets are tighter so you don’t have as much supply,” Chychrun said. “You use the new logo balls for your clients and you use whatever you have for yourself.” As the U.S. PGA Tour winds up its season with the Tour Championship beginning today in Atlanta, Chychrun is among a growing number of weekend players turning to the used golf ball market as a way to maintain their game amid a recession marked by less spending on leisure activities. Such frugality has been a boon to companies like Knetgolf , a Markham, Ontario-based golf ball reseller. The company said it expects to sell about $20 million worth of balls this year, up from $15 million in 2008. “The economy took the back door into our business,” Knetgolf founder Gary Shienfield said in an interview at the company’s 25,000-square-foot Ontario warehouse, where 30,000 balls are washed, sorted and repackaged every day. “Sometimes, you’re better off lucky than good.” Shienfield’s business has been around since 1995 and over the past two years he has begun to draw more interest in his products. This is shaping up to be the most profitable year, by far, he says. Public Course Knetgolf customers are mostly public-course golfers, like Jim Boggs, a 58-year-old Georgia resident who is nearing retirement. As he keeps a close watch on his savings, Boggs said he’s reduced his annual rounds to about 20 from 52. He recently purchased three dozen “mint” condition Maxfli brand balls from Knetgolf for $40, about $6 less than it would have cost him to buy a dozen top-end Titleists. “I just can’t afford to do it,” Boggs said in a telephone interview. “I don’t go to the pro shop and buy golf balls anymore.” For others like Chychrun, who said he shoots under 80 regularly, the stigma of using secondhand golf balls died about two years ago, when the global credit crisis led to the worst recession since the Great Depression. “With everything that is going on in the economy, if I can play a golf ball that’s one-third of the price and I get the same performance, it’s a pretty easy trade,” the father of two said. Saving Money In the first seven months of 2009, sales of new golf balls at on- and off-course retailers were down 12.9 percent to 10.4 million dozen from a year ago, according to Kissimee, Florida- based Golf Datatech , which tracks industry sales. There’s little disputing that the used, or “recycled” balls as Shienfield likes to call them, are cheaper. Their performance remains in question. Shienfield doesn’t test balls for elements such as trajectory and spin, and said that isn’t a high priority of his customers. They just want to save money. “The whole world wants a deal,” he says. “We’re marketers. We’re not ball guys. We happen to market golf balls. At the end of the day, after the first swing, everybody uses a pre-owned ball.” Courses Searched To get that deal, Shienfield dispatches workers onto 2,000 contracted golf courses, mostly across the southwestern U.S., to scour for lost balls. He then resells them out of warehouses near Toronto and Phoenix. The balls are graded from “Shag” or “Grade C” quality to “Mint” condition. Grade C balls can cost as little as $3.99 for a dozen, while 12 mint-condition Titleist Pro V1 model golf balls cost $34.99. The Pro V1 is golf’s top-selling premium ball and most-used model by professionals, according to the Darrell Survey , which tracks equipment use among pros. In 2009, the ball has been used to win 112 professional events worldwide, the most of any ball. Titleist said the average selling price is about $46 a dozen. Acushnet Co., the maker of Titleist and a division of Fortune Brands Inc., filed a lawsuit in 2003 against a similar golf ball reseller, claiming that the integrity of their balls was diminished, hurting the performance. “Acushnet Co. does not design or manufacture its Titleist or Pinnacle brand golf balls to be refurbished or refinished, nor do we authorize or support it in any way,” company spokesman Joe Gomes said in an e-mail. The suit was thrown out in 2006 after a judge ruled that Nitro Leisure Products clearly marked on its packaging that the balls were “used & refurbished.” “Are they happy with us? No,” Shienfield said of the golf ball manufacturers. “Am I in touch with them? Yes. It is what it is.” Such details don’t seem to matter to golfers like Chychrun, whose bag is filled with brand-name “demo” model clubs, which sell for about 20 percent less than new clubs. “If you’re a touring pro, and that one stroke makes a difference, you may not put these in your bag,” Chychrun said. “But for me, it was a pretty easy decision.” To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

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Golf’s $10 Million FedEx Putt Gets Into Players’ Heads at PGA Tour Finale

September 23, 2009

By Michael Buteau Sept. 23 (Bloomberg) — With the chance to capture his second FedEx Cup title, Tiger Woods remains unable to say just what winning the season-long points competition means to him. “It means that I’ve had a very consistent year,” Woods said at a press conference in Atlanta as he prepared for tomorrow’s start of the Tour Championship , which will award a $10 million bonus to the winner of the U.S. PGA Tour’s season- long FedEx Cup competition. Beyond consistency, Woods is among many golfers unsure of what exactly the title means in a sport with four major championships — the Masters Tournament , U.S. and British Opens and PGA Championship — and World Golf Championship events. “You try and have this season-ending championship be our big event,” Woods said, “but there are four other ones that are pretty big, too.” Woods’s disappointment over his inability to win a major this year for the first time since 2004 likely won’t be lessened if he goes on to win this week, $10 million bonus or not. “Major championships are the biggest events, unfortunately I didn’t win any,” said Woods, who has won six times this year and is one victory shy of tying Jack Nicklaus with 72 career victories. The FedEx Cup was created in 2007 in part to maintain the interest of golf fans throughout the season by awarding points based on weekly performance. It has slowly captured the attention of the public and players, even if they don’t look at the points standings each week. “Each tournament throughout the year, I just tried to play as good as I can and let the points take care of itself,” said Steve Stricker , who ranks second behind Woods in the standings and will be paired with the 14-time major winner in the opening round at East Lake Golf Club. Big Check The Masters and other majors have more history, but they don’t offer a $10 million check. Woods, who earned $99.7 million through endorsements and winnings in 2008, according to Sports Illustrated magazine, says the money doesn’t motivate him. Fellow players said they feel otherwise. “Oh, the $10 million definitely matters,” said Stewart Cink , who is ranked 26th out of the 30 players in this week’s field, based on points after the first three playoff events. Along with the bonus, players will be contending for $1.35 million awarded to the winner of the Tour Championship. For Heath Slocum , who won the playoff-opening Barclays event in New Jersey five weeks ago and is one of only five players able to secure the FedEx Cup title with a victory this week, the potential windfall is daunting. “It’s hard to grasp really,” Slocum said. “Ten million is a lot of money. I can’t even get my head around it.” That’s not to say he doesn’t understand what its effect would be if he found himself needing to make a six-foot putt on the final hole to secure the cash. “I’d like to say that I’d walk up to that six-footer prepared for it to go in,” Slocum said, “and hope I could still feel my hands when I was making the stroke.” To contact the reporter on this story: Michael Buteau in Atlanta at mbuteau@bloomberg.net

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Justine Henin Follows U.S. Open Winner Kim Clijsters in Return to Tennis

September 22, 2009

By Danielle Rossingh and James Neuger Sept. 22 (Bloomberg) — Justine Henin will end her retirement from the women’s tennis tour after 16 months to try to win Wimbledon, the only major title the former No. 1 ranked player hasn’t won. “Once the flame is lit, it is never extinguished,” Henin, 27, said today on RTL television in her native Belgium. The seven-time Grand Slam champion plans to return to competition in January in Australia, where the 2010 Australian Open will start Jan. 18 in Melbourne. Henin quit the sport in May 2008 while ranked No. 1, saying she wanted “a new start” in life. Before her retirement, Henin won 41 career titles, including four French Opens, two U.S. Opens and one Australian Open. She was a two-time runner-up on Wimbledon’s grass courts, won the season-ending WTA Tour Championships back-to-back and clinched the singles gold at the 2004 Athens Olympics. “Justine is one of the great champions in the history of women’s tennis, and we, along with millions of her fans around the globe, are thrilled with her announcement today,” Stacey Allaster , chairman and chief executive officer of the WTA Tour, said in an e-mailed statement. Henin is following in the footsteps of Kim Clijsters . Clijsters, a former world No. 1 in the WTA rankings, made one of the sport’s greatest comebacks by winning the U.S. Open Sept. 13. That was a month after she ended a two-year retirement during which she got married and had a baby girl. Clijsters is the first mother to capture a major title since Evonne Goolagong Cawley won Wimbledon in 1980. Henin wants to Wimbledon, the only major that’s eluded her, her long-time coach Carlos Rodriguez told RTL. Hunt for Wimbledon “One of the reasons she’s coming back is for the fourth title,” Rodriguez said. “I’ll do all I can to help her get there.” Rodriguez said he had initially been “surprised” Henin was contemplating a return to the women’s tour. “She made this decision after a lot of thinking,” he said. “We’ve been through difficult moments and happier moments.” Belgian media had been speculating for weeks that Henin would return. “Justine Henin Will Also Start a Second Career,” Flemish newspaper Het Laatste Nieuws headlined on its Web site earlier today. The newspaper also said Belgian tennis is once again living “a fairytale” after Clijsters won the U.S. Open while another Belgian, Yanina Wickmayer , made the semifinals of the year’s final major. Clijsters was received by thousands of fans at Brussels Airport last week. Belgian broadcaster RTBF reported last week that Henin had ordered 14 new rackets, the same number she used on the WTA Tour. Exhibition Matches The return of Clijsters and Henin is seen as positive news for the WTA Tour , which has been lacking strong rivalries and a dominant leader since Henin quit the sport. Since then, five women have held the top spot, while current No. 1 Dinara Safina of Russia has yet to win a major. Speculation about a possible return mounted after Henin announced she’d play two exhibition matches in Charleroi and Dubai in December against 10th-ranked Flavia Pennetta of Italy and two other Tour players. She also recently pulled out of a play she was supposed to perform in this fall, according to Belgian newspaper Vers L’Avenir . Henin refused to answer questions about her tennis career at a Unicef press conference in Brussels during the U.S. Open. As a Unicef ambassador, Henin visited Cambodia this summer to learn more about the organization’s infant-immunization program. Tennis Academies During her time away from the WTA Tour, Henin worked at her tennis academies, hosted a music show on Belgian television and starred in a reality show. She told reporters during a visit to Roland Garros in May that she had no plans to return to the tour. In May last year, Henin said walking away from the sport was “a relief, a new page is opening up.” She cited the physical and emotional demands of the tour’s 11-month season, the longest in professional sports. Henin retired after an emotional year and her most successful season. She won 10 of the 14 events she entered in 2007, including the French and U.S. Opens. Henin skipped the Australian Open that year after separating from her husband, Pierre-Yves Hardenne, and patched up her relationship with her estranged father, sister and two brothers. Henin was 12 when her mother died. “It’s the first time I’ve gone back on a major life decision,” she said in the broadcast interview. “I know myself better today and maybe that’s my strength.” In a sport increasingly dominated by tall power-hitters like Serena and Venus Williams and Maria Sharapova , the 5-foot-5 Belgian stood out with a game that was built around her backhand — a one-handed stroke that blistered opponents — and mental toughness. To contact the reporter on this story: Danielle Rossingh at the London sports desk at drossingh@bloomberg.net ; James Neuger in Brussels

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Lance Armstrong Says He’ll Name New American Partner for His Cycling Team

July 21, 2009

By Mason Levinson July 21 (Bloomberg) — Lance Armstrong said he is set to announce a “new American partner” for his cycling team.

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