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Chicago Bears tight end Greg Olsen is locked out by a high school
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GWU Suicide Tragically Coincides with Obama Speech - FoxNews.com
George Washington University students in Washington, D.C. learned of a tragic coincidence of timing on their campus Wednesday. As President Obama delivered a speech on deficit reduction in the Jack Morton Auditorium, ...
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New Google <b>News</b> for Opera Mini - Official Google Mobile Blog
So we have rolled out a redesigned Google News for Opera Mini in all 29 languages and 70 editions of Google News. This includes an enhanced homepage featuring richer snippets, thumbnail images, links to videos and section content ...
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Apple has reportedly become more aggressive in securing components from overseas suppliers, making moves such as upfront cash payments to both ensure supply and block out competitors.
Analyst Brian White with Ticonderoga Securities said in a note to investors on Thursday that Apple began "aggressively attacking" the component situation in Japan following the earthquake and tsunami that struck the country. The iPhone maker reportedly sent executives to suppliers immediately to ensure adequate supply of components, and also began offering upfront cash payments.
Separately, White's contacts in Taiwan also revealed that Apple is allegedly securing component capacity using what is known as a "three cover guarantee," referring to capacity, stock and price. Apple's move is seen as one that could potentially block out competitors and prevent them from building ample supply of devices.
The information comes as a separate report out of the Far East suggested that a one-month delay for Research in Motion's PlayBook tablet was as a result of Apple securing most of the available touch panel production capacity. The delay has forced the PlayBook to go on sale after Apple's in-demand iPad 2.
Last month, it was said that Apple could agree to price hikes in order to secure touch panel supply, particularly in the aftermath of the Japan earthquake. Apple was said to be in talks with component makers about touch panel pricing, and allegedly considered some price increases in negotiations.
In the company's last quarterly earnings call, Apple Chief Operating Officer Tim Cook revealed that Apple had invested $3.9 billion of its nearly $60 billion in cash reserves in long-term supply contracts. He declined to reveal what components Apple had put its money toward, citing competitive concerns, but said that it was a strategic move that would position the company well in the future.
Analysts largely believe that the secret investment was related to touch panel displays that are the centerpiece of devices like the iPhone and iPad. One cost breakdown estimated that such an investment could secure Apple 136 million iPhone displays, or 60 million iPad touch panels.
It's a move similar to 2005, when Apple inked a major deal with Samsung to secure longterm supply of flash memory. NAND flash would go on to become a major part of Apple's products, including the iPhone, iPad and new MacBook Air.
China is a notoriously tough market for American brands. The last few years has seen tech giants like Google struggle to do business due to restrictive censorship and retail giants like Best Buy and Home Depot have found that heavy price competition makes it hard to gain a toehold. Yet, despite the conventional wisdom, Apple’s business in China is booming and it’s not lower prices but better presentation that’s driving their success.
The Chinese economy is having some of its best years ever due to the rising world demand for consumer electronics, much of which is manufactured in China’s city-sized factories. The Mercury News reports that this has led to the average Chinese citizen being more flush with cash than ever before and ready to spend it on what would previously be deemed as unaffordable luxury.
Paul French of Shanghai-based Access Asia indicates that the increase in middle class affluence is behind the increase in purchasing power. “There is now enough of an urban middle class with enough money to afford Apple products. Five years ago — or even two or three years ago — there weren’t enough of those people.”
Five years ago, Apple didn’t have a retail store in China, now it has four, including a stunning split-level glass and metal flagship store in Sanlitun, an area of Beijing known more for its nightlife than its retail outlets. Those stores aren’t barely surviving either, with $2.6 billion in revenue this year, four times what we saw last year from Apple in China. This should mean that Apple is fighting the price war well in China, offering its products for less than they can be purchased in the US, but that’s not actually true. In fact, Apple sells a comparatively specced 13-inch Macbook Air for $180 more in China than it does stateside.
This success seems to fly in the face of conventional wisdom, typically premium products have not sold well in cost conscious China. Some, like Piper Jaffray analyst Gene Munster, say that Apple will have to eventually compete on price or risk losing the Chinese consumer. “The iPhone is going to be huge in China. That’s a given.” he tells the Mercury News. “But if Apple wants it to flow out across China, it has to come up with lower price points.”
Yet Apple shows no signs of slowing down in the Chinese market, which is projected to account for 10 percent of Apple’s revenue within 5 years.
When asked, locals said that in a country where the people like to try products out before they purchase them, Apple is doing the best job of presenting those products. Apple’s retail stores offer the Chinese consumer a chance to test the products in a beautiful and visually stimulating atmosphere and those efforts are paying off with big sales numbers. This kind of attention to the senses and emotions of the consumer wasn’t pioneered by Apple of course, but they are one of the first major companies to bring that kind of experience to China’s city centers in a big way.
This difference in the way that the products are presented is doing its job in separating Apple’s products from the rest of the pack almost everywhere that its retail stores are located, but nowhere is that effect felt more than in China. A country where consumers are hungry for polished products presented in a stimulating atmosphere and they finally have the cash to afford them.
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One important thing about cities is their sex appeal — their magnetism. Places flourish when they attract people, resources, opportunities, and ideas, and match them to one another. Cities are much more than the built environment of roads and real estate. Cities are about relationships, and whether people have access to opportunities. Cities are one big dating game.
When cities lose their magnetism, the whole population suffers. The deterioration of Detroit began well before recent auto industry woes; its population plunge was confirmed by the latest Census. Some attribute decline to bad urban redevelopment schemes or corrupt politics that failed to improve schools or reduce crime. "A once-great American city today repels people of talent and ambition," a Wall Street Journal columnist wrote recently. A local leader told him, "It's been class warfare on steroids, and ... so many Detroiters who had the means — black and white — have fled the city."
Cleveland is another shrunken city with significant poverty. In the 1980s, Cleveland Tomorrow, a coalition of major company CEOs, sponsored downtown projects, including a new baseball stadium and the Rock and Roll Hall of Fame. This attracted luxury apartment developments, luring the affluent to the center city and revitalizing it. But inner city ghettoes were barely touched, and the region continued to lose high-wage manufacturing.
There's a tale of two cities within many city borders: one rich, the other very poor. Dubai, a gleaming new city of luxury high rises, is ringed by hidden slums for temporary service workers from the underclass of Asian nations. In New York, the middle class, including young families, cannot afford to live in the city. Baton Rouge has affluent areas with some of Louisiana's best quality-of-life indicators and extreme poverty areas with some of the worst. Other divides include racial and ethnic enclaves that vary in opportunities — for example, minority entrepreneurs with promising business ideas who can't access mainstream sources of capital and support.
Cities should be connectors but can have connection problems. Cities are where all parts of life come together: jobs, health, education, environmental quality. Yet, in most cities, businesses, schools, hospitals, and city services still operate in silos. And the political boundaries of cities don't encompass their true extent or the flow of people, as the Brookings' Metropolitan Policy Center points out. IBM's Smarter Cities Challenge supports efforts to use technology for connected regional solutions.
Interdependence among urban issues makes vicious cycles worse. If there is no action on high youth unemployment or poor educational quality and high school dropout rates, then too many African-American males end up in prison. High crime rates make sections of cities undesirable, and neighborhoods deteriorate. Aging buildings and toxic environments then cause health problems, such as lead poisoning or asthma, which disproportionately affect inner city children. Children in poor health have trouble learning, learning problems are associated with school dropouts, and vicious cycles continue.
Pivotal investments can start virtuous cycles. The transformation of Miami from sleepy southern city to international trade hub and informal capital of Latin America was propelled by investments in a world class airport and a flood of immigrants from Fidel Castro's Cuba. Mayors and civic leaders took advantage of this to attract new businesses and tout Latin connections, as my book World Class describes. But progress stalls if benefits don't reach the grass roots, racial divides persist, and major institutions fail to collaborate. The Miami Foundation's emerging leaders program is designed to deploy diverse younger professionals for major civic projects.
Revitalizing cities requires national urban policy investments and social innovations on the ground. Leadership might come from:
- Enlightened mayors who build public-private partnerships or join Cities of Service, which align the city and non-profits around high-impact goals.
- Business leaders, such as former Miami Herald publisher David Lawrence, who rallied Miami-Dade County to vote for a tax increase (Yes to new taxes!) to create the Children's Trust, a fund to improve life for all children.
- Faith communities, such as Rev. Raymond Jetson's community organizing toward a coalition for "A Better Baton Rouge."
- Financiers, such as Tim Ferguson and Ron Walker, who co-founded Next Street to invest in inner city businesses.
- Social entrepreneurs, such as Hubie Jones, who wants to replicate a birth-to-college educational model like the Harlem Children's Zone in Boston.
- Community foundations with a strategic perspective, seeking integrated solutions across issues such as youth employment, education, health, and green plans.
The best social innovations will connect people and institutions, producing an infrastructure for collaboration. That social infrastructure will increase the sex appeal of cities by going beyond initial attraction to build lasting relationships for lasting improvements.
Over the years, entrepreneurs and corporate executives have devised any number of clever ways for getting rich off the working poor, but you'd have to look long and hard to find one more diabolically inventive than the RAL. Say you have a $2,000 tax refund due and you don't want to wait a week or two for the IRS to deposit that money in your bank account. Your tax preparer would be delighted to act as the middleman for a very short-term bank loan—the RAL. You get your check that day or the next, minus various fees and interest charges, and in return sign your pending refund over to the bank. Within 15 days, the IRS wires your refund straight to the lender. It's a safe bet for the banks, but that hasn't stopped them from charging astronomical interest rates. Until this tax year, the IRS was even kind enough to let lenders know when potential borrowers were likely to have their refund garnished because they owed back taxes, say, or were behind on child support.
Hewitt didn't invent the refund anticipation loan. That distinction belongs to Ross Longfield, who dreamed up the idea in 1987 and took it to H&R Block CEO Thomas Bloch. "I'm explaining it," Longfield recalls, "but Tom is sitting there going, 'I don't know; I don't know if people are going to want to do that.'"
Tax-prep shops are as common as fast-food joints in many low-income neighborhoods—there are at least half a dozen on one three-block stretch of South Broadway in Yonkers, N.Y., where these photographs were taken. A few offer reasonably priced accounting, while others charge hundreds of dollars for 20 minutes of work. But Longfield knew. He worked for Beneficial Corp., a subprime lender specializing in small, high-interest loans for customers who needed to finance a new refrigerator or dining-room set. His instincts told him the RAL would be a big hit—as did the polling and focus groups he organized. "Everything we did suggested people would love it—love it to death," he says.
He also knew Beneficial would make a killing if he could convince tax preparers—in exchange for a cut of the proceeds—to peddle this new breed of loan on his employer's behalf. Ultimately, Longfield persuaded H&R Block to sign up. But no one was as smitten as John Hewitt—who understood that people earning $15,000 or $20,000 or $25,000 a year live in a perpetual state of financial turmoil. Hewitt began opening outposts in the inner cities, Rust Belt towns, depressed rural areas—anywhere the misery index was high. "That was the low-hanging fruit," he says. "Going into lower-income areas and delivering refunds quicker was where the opportunity was."
Customers wanting a RAL paid Jackson Hewitt a $24 application fee, a $25 processing fee, and a $2 electronic-filing fee, plus 4 percent of the loan amount. On a $2,000 refund, that meant $131 in charges—equivalent to an annual interest rate of about 170 percent—not to mention the few hundred bucks you might spend for tax preparation. "Essentially, they're charging people triple-digit interest rates to borrow their own money," says Chi Chi Wu, a staff attorney at the National Consumer Law Center.
In 1988, the first year he began offering the loans, Hewitt owned 49 stores in three states. Five years later, he had 878 stores in 37 states. And five years after that, when Cendant Corp.—the conglomerate that owned Avis, Century 21, and Days Inn—bought Jackson Hewitt for $483 million, his earliest backers received a $2 million payout on every $5,000 they'd invested. Today, with 6,000 offices scattered across the country, Jackson Hewitt is more ubiquitous than KFC, and has about as many imitators.
THERE WOULD BE NO refund anticipation loans, of course, without tax refunds. And by extension there would be no RALs without the Earned Income Tax Credit, the federal anti-poverty initiative that served as the mother's milk nourishing the instant-refund boom. Welfare reform was the catalyst for the EITC, which was aimed at putting extra cash in the pockets of low-income parents who worked. What motive does a single mother have to get a job, conservative thinkers asked, if there was scant difference between her monthly take-home pay and a welfare check? It was Richard Nixon who first floated the idea that led to the Earned Income Tax Credit; Ronald Reagan dubbed it "the best pro-family, the best job creation measure to come out of Congress." In 2007, the US Treasury paid out $49 billion to 25 million taxpayers.
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New Google <b>News</b> for Opera Mini - Official Google Mobile Blog
So we have rolled out a redesigned Google News for Opera Mini in all 29 languages and 70 editions of Google News. This includes an enhanced homepage featuring richer snippets, thumbnail images, links to videos and section content ...
bench craft company
New Google <b>News</b> for Opera Mini - Official Google Mobile Blog
So we have rolled out a redesigned Google News for Opera Mini in all 29 languages and 70 editions of Google News. This includes an enhanced homepage featuring richer snippets, thumbnail images, links to videos and section content ...
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