Adidas Wilson's Blog, page 154
May 8, 2017
Warren Buffett: I was wrong on Google and ‘too dumb’ to appreciate Amazon
Warren Buffett admitted to shareholders Saturday that he made a mistake by not buying Google shares years ago, when the company was getting $10 or $11 per advertising click from Berskhire Hathaway consumer insurance company subsidiary Geico.
The Oracle of Omaha also professed ignorance on other big technology stocks, whose rallies he missed because he didn’t quite appreciate their value proposition at first glance.
On CNBC’s “Squawk Box” on Monday, Buffett said, “If I was forced to buy [Google-parent Alphabet] or short it, I’d buy it; same way with Amazon. But it’s as little hard when you look at something at ‘X’ and it sells at 10X to buy it.”
“That’s cost people a lot of money at Berkshire,” he said.
Buffett has often said he avoided tech stocks in the past because he didn’t really understand how they were making money and whether they would be able to do so over the long term. This week, Oracle copped to getting it wrong on another tech company: IBM.
For years, Buffett was a true believer in Big Blue, but told CNBC in an interview he had cut his holdings in the stock by a third. “I don’t value IBM the same way that I did six years ago when I started buying,” he said, adding that the company as “run into some pretty tough competitors.”
In the case of Google, however, Buffett said he could have figured out the company had a great advertising business because he was, in effect, contributing to its profits.
After profusely praising Amazon chief Jeff Bezos, Buffett said he missed that opportunity as well.
“I was too dumb to realize. I did not think [Bezos] could succeed on the scale he has,” Buffett said, adding that he “really underestimated the brilliance of the execution.” The investor humbly admitted that he and partner Charlie Munger “miss a lot of things, and we’ll keep doing it.”
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Source:
http://www.cnbc.com/2017/05/06/warren-buffett-admits-he-made-a-mistake-on-google.html
Colin Kaepernick is still mysteriously a free agent, and some in the NFL reportedly think he’s moved on from football
Two months into NFL free agency, Colin Kaepernick is still unsigned and there have been few reports of teams interested in him.
The reasons vary — some think Kaepernick hasn’t shown enough as a passer to interest many teams, while others believe some teams won’t sign because of his national anthem protest last season. Some believe it’s a combination of factors.
Kaepernick hasn’t totally gone missing, however. Last week, he was seen handing out suits in front of a parole office in New York City. On Saturday, May 6, Kaepernick held his Know Your Rights camp in Chicago, an event that gave campers advice on “how to deal with police officers when detained, financial literacy, holistic health, and college preparation among other things,” according to Evan F. Moore of The Shadow League.
According to MMQB’s Peter King, who was embedded with the San Francisco 49ers during the NFL Draft, some within the team think Kaepernick’s passion for social work may be stronger than his desire to play football.
“I spent a long draft weekend with the Niners in California, and there are those in the building who think Kaepernick might actually rather do social justice work full-time than play quarterback.”
This idea has been floated before. At the beginning of last season, it was unclear if Kaepernick would make the 49ers, due to both the negative attention surrounding his protest and several offseason surgeries that physically limited him. Bleacher Report’s Mike Freeman reported in August that some within the NFL believed if Kaepernick was cut the from the 49ers, he would pursue social work off of the field.
“I’ve heard from people close to Kaepernick that he fully expected to be released by the 49ers once everyone became aware of his actions, and he also knew his football career would be in jeopardy. I’ve also been told Kaepernick would then dedicate his life to one of social activism.”
It’s unclear what will happen next for Kaepernick’s career. As King states, in a league desperate for competent passers, it’s hard to believe an athletic quarterback who was playing in the Super Bowl just four years ago has no market. In an offseason where Tony Romo and Jay Cutler both retired rather than signing with another team, where the Bears paid $45 million for Mike Glennon and traded four draft picks to draft Mitchell Trubisky, surely someone would be interested in Kaepernick’s services.
However, perhaps Kaepernick no longer has much interest in playing football and is focusing on his off-field pursuits instead. If he remains unsigned, it would not be surprising to hear his name pop up in rumors for a quarterback-needy team, much like people expect from Romo and Cutler this season.
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Source:
http://www.businessinsider.com/colin-kaepernick-still-a-free-agent-2017-5
Palestinian fashion designer breathes new life into tradition
Palestinian fashion designer Natalie Tahhan is hard at work in her Jerusalem studio, replacing the painstaking processes of cross-stitching and embroidery with a laptop computer and printed fabric.
Taking inspiration from traditional Palestinian patterns, Tahhan designs patterns digitally and then has them printed on satins and silks before piecing together her garments.
Her modern take on generations-old designs has attracted a keen following both locally and abroad, particularly in the Gulf, where she sells her clothes via the web.
“I wanted to do something new, modern, never seen on the market,” the 27-year-old said, as she measured out fabric at her studio in her family home in Ras Al-Amud, east Jerusalem.
Palestinians have for centuries painstakingly sewn long black dresses and adorned them with red embroidery, in designs still worn today in rural areas and at marriages and other celebrations.
The designs vary from region to region and tend to say something about the wearer.
“We can tell where the woman who wears it is from and if she is married or single,” Tahhan said.
Several young Arab designers have sought to modernize traditional wear and bring the dresses of their ancestors — an increasingly rare sight today — to a new generation.
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Tahhan, who studied in Doha and at the London College of Fashion, is among the few to do so in Jerusalem. She believes she is the only one to have abandoned traditional embroidery for her new method.
As the Palestinian territories lack the equipment she needs, she has her fabrics printed in Dubai.
They are then delivered to Jerusalem via Qatar and Jordan to circumvent the lack of direct shipments from the Gulf countries to Israel and the Palestinian territories.
Maha Saca, director of the Palestine Heritage Center in the occupied West Bank city of Bethlehem, says she supports efforts to breathe new life into traditional designs.
“Adding Palestinian motifs to modern wear is very important. It means we can wear a modern dress with Palestinian embroidery on it,” she said.
The center, established in 1991, boasts the largest collection of traditional Palestinian dresses.
“Embroidery is part of our identity and our proof of our existence in every Palestinian city and village,” Saca said. “It shows the beauty and richness of our Palestinian heritage.”
She is lobbying for traditional embroidery to be incorporated into Palestinian school uniforms.
Saca said top-end handmade dresses can cost between $1,500 and $2,000 because of the long hours of labor involved and the cost of materials.
She stresses the need to preserve hand embroidering techniques, but accepts that clothes are being produced in new and more modern ways.
“We support it 100 percent,” she said.
Tahhan’s first collection, consisting of five white and violet satin capes with shimmering geometric patterns, sold out completely in less than three months at a price of $550 a piece.
Most of the sales were to Gulf clients who bought the items online.
One of Tahhan’s signature works is a cape inspired by designs from the West Bank city of Hebron, occupied by Israel for 50 years. The garment bears a succession of blue and pink squares over black fabric, and is open at the shoulders.
Tahhan’s light fabrics work well in the Gulf market, where heavy black felt or thick cotton can become unbearable under the burning sun.
Her latest collection is called “Prints of Palestine.”
Tahhan’s location in Jerusalem, a city holy to Muslims, Christians and Jews, is also a plus for sales “despite the obstacles and difficulties” imposed by Israel’s occupation, she said.
Israel seized the West Bank and east Jerusalem in 1967. It later annexed east Jerusalem in a move never recognized by the international community.
Palestinians see the eastern sector as the capital of their future state, while Israelis consider the entire city of Jerusalem their unified capital.
“I wanted to do something as a girl from Jerusalem,” said Tahhan, her long black hair falling over her shoulders. “Why not create fashion here?”
“People love the idea of owning something made in Jerusalem, especially Palestinians abroad,” she said.
“When they buy something they feel they are taking with them a small piece of the city.”
Source:
May 7, 2017
May 5, 2017
Ariel Winter defends wearing sheer gold dress to ‘Modern Family’ panel
Ariel Winter doesn’t care what you have to say about her recent red carpet outfit.
While promoting the upcoming season of ABC’s “Modern Family” in Hollywood, the 19-year-old actress wore a gold sheer minidress.
The rest of the cast pictured — Nolan Gould, Eric Stonestreet, Julie Bowen, Aubrey Anderson-Emmons, Jesse Tyler Ferguson and Ty Burrell along with the show’s executive producer Steven Levitan — were dressed more casually, some commenters were quick to point out.
Our wonderful cast at the #ModernFamily FYC Event! ?? pic.twitter.com/q1z4dsACdG
— Modern Family (@ModernFam) May 4, 2017
How Ariel Winter says people reacted to her breast reduction surgery
‘Modern Family’ star Ariel Winter opens up on breast reduction surgery
Still, Winter — in a lengthy post on social media — defended her right to dress however she wants.
“Why TF does anyone care that I didn’t dress casual like everyone else for the panel?” she wrote. “Why do I have to be like everyone else? Why can’t people just let other people feel good about themselves and do what they want?”
The actress then used the opportunity to encourage people to wear what they feel comfortable in, whenever.
“WEAR WHATEVER YOU WANT PEOPLE! As long as you feel good about yourself that’s what matters. I now I did,” Winter continued. “Don’t every let anyone stifle who you are and how you express yourself. Rant over :)”
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Uber faces criminal probe over the secret ‘Greyball’ tool it used to stymie regulators
The Justice Department has launched a criminal investigation into Uber‘s use of a secret software that was used to evade authorities in places where its ride-hailing service was banned or restricted, according to a person familiar with the government’s probe.
The investigation, in its early stages, deepens the crisis for the embattled company and its chief executive and founder, Travis Kalanick, who has faced a barrage of negative press this year in the wake of high-profile sexual harassment complaints, a slew of executive departures and a consequential trade-secrets lawsuit from Google’s parent company.
The federal criminal probe, first reported by Reuters, focuses on software developed by Uber called “Greyball.” The program helped the company evade officials in cities where Uber was not yet approved. The software identified and blocked rides to transportation regulators who were posing as Uber customers in an effort to prove that the company was operating illegally.
Uber declined to comment on the criminal investigation. The Justice Department declined to comment, citing its practice of not confirming or denying possible investigations.
In a letter last week to Portland, Ore., authorities, who had requested information about the program as part of a civil probe, Uber said greyballing refers to the practice of showing some customers a different version of the app than most customers see. Uber’s attorneys said that the program was used “exceedingly sparingly” in Portland and that the company had not used it since April 2015, when Portland adopted preliminary rules allowing Uber to operate.
San Francisco-based Uber, valued privately by investors at close to $70 billion, has a reputation among Silicon Valley companies for a hard-charging workplace culture driven by Kalanick. The 40-year-old is known as a quick-tempered and combative manager who aims to win at all costs and inspires fierce loyalty in his inner circle.
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Source:
http://www.latimes.com/business/technology/la-fi-tn-uber-greyball-20170505-story.html
Jury awards record-setting $110.5M in baby powder lawsuit
More than a year after a Missouri jury ordered Johnson & Johnson to pay $72 million to the family of a woman who died from ovarian cancer linked to the company’s talcum-based products, another jury in the state awarded a Virginia woman a record-setting $110.5 million in a similar lawsuit.
Thursday’s jury ruling is the fourth in a string of cases involving allegations that Johnson & Johnson ignored a possible link between cancer and its talcum-based products.
The most recent case, the Associated Press reports, involves 62-year-old Lois Slemp, who was diagnosed with ovarian cancer in 2012.
According to the lawsuit, the woman claims her illness was caused by more than 40 years of using Johnson & Johnson’s talcum powder products, including baby powder. She alleges that Johnson & Johnson concealed the possibility that its baby powder and other talcum-based products could cause cancer.
The woman’s lawyers cited much of the same research used in previous cases. The studies showed that woman who used the products had a greater risk of being diagnosed with cancer.
Studies going back to 1971 have suggested this link exists. In fact, at least one lawsuit against Johnson & Johnson cites a 1982 study on the issue that found a 92% increased risk in ovarian cancer with women who used talc-based products around their genitals, the researcher behind that study directly advised a J&J doctor to place a warning label on their products.
Johnson & Johnson and other companies have continued to defend the use of talcum powder in feminine hygiene products; however, the condom industry halted the mineral’s use in the mid-1990s amid the growing concerns about its link to ovarian cancer risk.
Johnson & Johnson tells the AP that it will appeal the $110.5 million verdict, noting that it disputed the scientific evidence behind the case.
The company has previously appealed three cases, including the $72 million verdict handed down last year. Those cases remain under appeal.
Thursday’s case is just one of around 1,200 cases currently being pursued against J&J in courts in Missouri and New Jersey.
Source:
Jury Awards Woman $110.5M In Johnson & Johnson Talcum Powder Lawsuit
YouTube snags Ellen Degeneres, Demi Lovato, Kevin Hart and others for exclusive shows
With perhaps its boldest bet yet, YouTube is going directly after traditional television advertising dollars with 40 new programs exclusively for the platform. And advertisers appear to be coming back to the fold after brand-safety concerns rocked YouTube several weeks ago.
Tonight, at the digital giant’s BrandCast event in New York, YouTube chief business officer Robert Kyncl announced that celebrities such as Kevin Hart, Ellen DeGeneres, Ryan Seacrest and Demi Lovato are creating shows. The big pitch to marketers came toward the end of the first week of the Digital Content NewFronts.
“We see these shows as a way for us to partner with you to buck this trend,” Kyncl said.
While around a half dozen of the star-studded shows will be supported by brand sponsorships, more than 30 others will be on YouTube Red, the subscription portion of the platform. Most of the YouTube Red shows will be created by YouTube influencers rather than by mainstream celebrities.
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On stage at New York’s Javits Center, Hart announced he’s creating a series called Laugh Out Loud to give future comedians and actors a chance to create their own content and comedy. Speaking during the event, Hart said he’s also creating a fitness show called What the Fit.
Brands are already signing up. Tonight, YouTube announced Johnson & Johnson will sponsor a talent competition called Best Cover Ever produced by Ryan Seacrest. So, J&J has already reversed its stance of cutting budget from YouTube due to the brand-safety concerns that arose in March.
The event—which featured appearances from celebrities like Late Late Show host James Corden, YouTuber Casey Neistat and singer Katy Perry—is an important night for winning over brand marketers. The platform’s reputation has taken a beating lately, with a parade of brands in recent weeks having pulled advertising dollars out of Google after their ads appeared alongside hateful and terrorist content.
During her opening remarks tonight, YouTube CEO Susan Wojcicki apologized to the hundreds of marketers in the audience.
“We apologize for letting some of you down,” she said. “Thank you for helping us become a stronger and better platform.”
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