Tag Archives: Forbes Staff It

Big Win For Retailers Over Banks In New Debit Swipe Fee Ruling

By Halah Touryalai, Forbes Staff

It’s back to the drawing board for banks and retailers over the heated debit card swipe fee debate. A judgetoday rejected a rule set by the Federal Reserve back in October 2011 which capped the amount banks could take from retailers when consumers swipe their debit cards. …read more

Source: FULL ARTICLE at Forbes Latest

Herbalife Surges On Earnings Beat As Uncle Carl Smiles, Ackman Squeeze Continues

By Agustino Fontevecchia, Forbes Staff

It wasn’t a good Monday for hedge fund billionaire Bill Ackman.  Herbalife, the nutritional supplements company he’s been shorting to the tune of $1 billion, posted strong second quarter numbers, including a top and bottom-line beat, and raised guidance.  The stock, which is up big time this year, took off in the post-market session. …read more

Source: FULL ARTICLE at Forbes Latest

Wynn Doesn't Need Zynga Or Online Gaming: Las Vegas Casino Revenues Surge

By Agustino Fontevecchia, Forbes Staff

It’s a good time to be in the casino and hotel business, it seems, as posted solid underlying numbers in their second quarter earnings before the bell on Monday.  Interestingly, Wynn’s strength was derived from Las Vegas, which helped pushed margins even higher, as the Macau operations lagged.  Rising casino revenues in the City of Sin suggest Wynn doesn’t have much to lose from Zynga, with which the company was reportedly in talks with, bowing out of online poker and gambling. …read more

Source: FULL ARTICLE at Forbes Latest

Not Your Average Condom Company

By Karsten Strauss, Forbes Staff

It’s not traditionally the first choice of global activists, but given the impact male prophylactics can have on the spread of disease and unwanted pregnancy, maybe the condom business makes sense as a platform from which to change the world. Sir Richard’s Condom Company operates on a business model that melds profits and a worthy cause— for each condom it sells, it donates one to a developing country. To date the Boulder, Colorado-based company has donated over 2.2 million of them since going to market in 2011. According to company CEO, Jim Moscou, Sir Richard’s mission is to address a massive global shortage of prophylactics. “Some countries have one condom per man per year,” he explained. “So the need is huge—it’s literally in the billions.” The company is currently focusing on Haiti as a recipient for its products—a country still recovering from a devastating earthquake in 2010. Since there was no Haitian brand of prophylactics, Sir Richard’s developed one especially for the country’s populous, called KORE, with the help of Haitian artists Marc Baptiste, to be distributed through Partners In Health. Is Sir Richard’s profitable? Not yet, but could be in the next year. Its policy of giving one away for each one it sells has put a damper on a growth run but that’s part of the adventure, according to Moscou. It’s socially conscious leanings set its brand apart from others in the market. “We’re going to give up a little bit of that profitability to do this and because of that it opens up a larger market, we believe, for us.” …read more

Source: FULL ARTICLE at Forbes Latest

Guggenheim Calls Bernanke's Bluff In The Search For Yield

By Daniel Fisher, Forbes Staff

It’s 8 a.m. on a Monday in early July, and 50 people cram into a conference room for the daily credit meeting at the Madison Avenue headquarters of Guggenheim Investments. The mostly young, mostly male analysts don’t wear ties, but they snap to attention as the voice of Global Chief Investment Officer Scott Minerd comes over the speakerphone from the firm’s Santa Monica, Calif. office. The 54-year-old, 300-pound competitive bodybuilder is more commanding in person, but his message today is compelling on its own. …read more

Source: FULL ARTICLE at Forbes Latest

Juiced Up: Inside $3.5 Billion Organic Giant Hain Celestial, Whole Foods' Biggest Supplier

By Clare O’Connor, Forbes Staff

It’s as cold as a meat locker inside the lab-like BluePrint juice factory in an industrial slice of Queens, N.Y., and the air smells of lemon zest. As a worker in a white coat and Wellingtons stirs a barrel filled with 55 gallons of moss-colored sludge, Irwin Simon, CEO of BluePrint’s owner, Hain Celestial, looks on admiringly. “Liquid gold,” he says. …read more

Source: FULL ARTICLE at Forbes Latest

Thoughts On Vacation, Fishing And Summer Reading

By Karl Shmavonian, Forbes Staff

It’s that time of year, when anybody and everybody heads to all points of the world to enjoy vacation. One item on the menu for many vacationers: What to read while on roads, airplanes, lakes or oceans. Earnest readers spend a lot of time strategizing their vacation reading lists. Therefore, it seems appropriate that all of our quotes this time are from literary folk. Writer Ben Dolnick sums up the summer reading menu: There are good books, even great books, that you read happily but with a faint feeling of duty. Then there are the books, often less pedigreed, that you read in a haze of compulsion, as if their pages emitted a drug. Summer is the season for the latter.” Colum McCann takes a disdainful view of this sort of reading: Whenever summer rolls around I begin to realize that I’m a complete and utter book snob. In relation to reading, I have absolutely no guilty pleasures at all. No graphic novels. No murder mysteries. My summer read is really no different from my winter read. I know many bookshops and magazines would have me believe that our summer forays are different, but literature is literature, and unfortunately snobbery is snobbery.” Humorist Bill Bryson is of the opinion that you might as well sit at home and do your reading: What an odd thing tourism is. You fly off to a strange land, eagerly abandoning all the comforts of home, and then expend vast quantities of time and money in a largely futile attempt to recapture the comforts that you wouldn’t have lost if you hadn’t left home in the first place.” Aldous Huxley echoes Bryson’s sentiments: To travel is to discover that everybody is wrong. The philosophies, the civilizations which seem, at a distance, so superior to those current at home, all prove on a close inspection to be in their own way just as hopelessly imperfect.” Christopher Hitchens speaks for those of us who have never understood fishing as a vacation activity: For me, the life of the angler is an almost flawless example of how not to have a good time.” Stephen Leacock takes an opposing view: ‘Angling’ is the name given to fishing by people who can’t fish. Clive James sums up another aquatic vacation activity that often ends up badly: A luxury liner is just a bad play surrounded by water.” P.J. O’Rourke gives this historical twist on vacations: Everybody in 15th century Spain was wrong about where China was and as a result, Columbus discovered Caribbean vacations.” Finally, FORBES magazine founder B.C. Forbes has this eminently sensible prescription: Temporary release from work, through vacations, becomes more welcome, more pleasurable, even more necessary, as we grow older.”   …read more

Source: FULL ARTICLE at Forbes Latest

Fresh Pessimism For Yahoo As Dan Loeb Exits

By Jeff Bercovici, Forbes Staff

It didn’t always feel that way, but Marissa Mayer had a pretty blessedly smooth first year as CEO of Yahoo. There were some PR hiccups, yes, notably when the former Google executive rescinded work-from-home privileges for Yahoo employees. But on matters of substance, Mayer was able to operate with a free hand, backed by a supportive board and investors willing to give her time to let her strategy play out. …read more

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Once Listed For $125 Million, The Versace Mansion Heads To Bankruptcy Auction

By Morgan Brennan, Forbes Staff

It’s a scenario that has played out before. A high-profile luxury estate comes to market with a staggering price tag, languishes on the market under the weight of mounting legal or financial complications, and ultimately heads to auction to be claimed at a dramatically discounted price. …read more

Source: FULL ARTICLE at Forbes Latest

The Trouble With Crowdfunding

By Deborah L. Jacobs, Forbes Staff

It’s about one year since President Obama signed the Jumpstart Our Business Startups Act (the “JOBS Act”), designed to help new companies raise capital and go public. For individual investors the most troublesome provisions of the law relate to crowdfunding–a term not defined in the law, but popularly used to mean raising money online for a variety of purposes. Since the JOBS Act passed, crowdfunding has been on a roll. But don’t believe the hype; it is far from a start-up fundraising panacea. In the guest post below, Brian Korn, a securities lawyer with Pepper Hamilton, explains why crowdfunding is not all it’s cracked up to be.

From: http://www.forbes.com/sites/deborahljacobs/2013/04/17/the-trouble-with-crowdfunding/

Small-Caps Getting Destroyed

By Taesik Yoon, Forbes Staff

It’s been a rough month for small-cap stocks.  This is plainly evident in the poor performance of the Russell 2000 Small-cap Index.  Based on today’s close, it’s down 4.7% versus just 1.1% for the S&P 500 so far this April.  After outperforming the large-cap benchmark in the first three months of 2013, the gain in the Russell 2000 now stands at 6.8% compared to 8.8% for the S&P 500 on a year-to-date basis.

From: http://www.forbes.com/sites/taesikyoon/2013/04/17/small-caps-getting-destroyed/