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It’s not exactly news that gold mining stocks have been in a slump for more than two years. Many investors who owned them have thrown in the towel by now, or are holding simply because a paper loss isn’t a realized loss until you sell. For contrarian speculators like Doug Casey and Rick Rule, though, it’s the best of all scenarios. “Buy when blood is in the streets,” investor Nathan Rothschild allegedly said. And buy they do, with both hands—because, they assert, there are definitive signs that things may be turning around. So what’s the deal with junior mining stocks, and who should invest in them? I’ll give you several good reasons not to touch them with a 10-foot pole… and one why you maybe should. First, you need to understand that junior gold miners are not buy-and-forget stocks. They are the most volatile securities in the world—”burning matches,” as Doug calls them. To speculate in those stocks requires nerves of steel. Let’s take a look at the performance of the juniors since 2011. The ETF that tracks a basket of such stocks—Market Vectors Junior Gold Miners (GDXJ)—took a savage beating. In early April of 2011, a share would have cost you $170. Today, you can pick one up for about $36… that’s a decline of nearly 80%. There are something like 3,000 small mining companies in the world today, and the vast majority of them are worthless, sitting on a few hundred acres of moose pasture and a pipe dream. It’s a very tough business. Small-cap exploration companies (the “juniors”) are working year round looking for viable deposits. The question is not just if the gold is there, but if it can be extracted economically—and the probability is low. Even the ones that manage to find the goods and build a mine aren’t in the clear yet: before they can pour the first bar, there are regulatory hurdles, rising costs of labor and machinery, and often vehement opposition from natives to deal with. As the performance of junior mining stocks is closely correlated to that of gold, when the physical metal goes into a tailspin, gold mining shares follow suit. Only they tend to drop off faster and more deeply than physical gold. Then why invest in them at all? Because, as Casey Chief Metals & Mining Strategist Louis James likes to say, the downside is limited—all you can lose is 100% of your investment. The upside, on the other hand, is infinite. In the rebound periods after downturns such as the one we’re in, literal fortunes can be made; gains of 400-1,000% (and sometimes more) are not a rarity. It’s a speculator’s dream. When speculating in junior miners, timing is crucial. Bear runs in the gold sector can last a long time—some of them will go on until the last faint-hearted investor has been flushed away and there’s no one left to sell. At that point they come roaring back. It happened in the late ’70s, it happened several times in the ’80s when gold itself pretty much went to sleep, and again in 2002 after a four-year retreat. The most recent rally of 2009-’10 was breathtaking: Louis’ International Speculator stocks, which had gotten hammered with the rest of the market, handed subscribers average gains of 401.8%—a level of return Joe the Investor never gets to see in his lifetime. So where are we now in the cycle? The present downturn, as noted, kicked off in the spring of 2011, and despite several mini-rallies, the overall trend has been down. Recently, though, the natural resource experts here at Casey Research and elsewhere have seen clear signs of an imminent turnaround. For one thing, the price of gold itself has stabilized. After hitting its peak of $1,921.50 in September of 2011, it fell back below $1,190 twice last December. Since then, it hasn’t tested those lows again and is trading about 6.5% higher today. The demand for physical gold, especially from China, has been insatiable. The Austrian mint had to hire more employees and add a third eight-hour shift to the day in an attempt to keep up in its production of Philharmonic coins. “The market is very busy,” a mint spokesperson said. “We can’t meet the demand, even if we work overtime.” Sales jumped 36% in 2013, compared to the year before. Finally, the junior mining stocks have perked up again. In fact, for the first month of 2014, they turned in the best performance of any asset, as you can see here: (Source: Zero Hedge) The writing’s on the wall, say the pros, that the downturn won’t last much longer—and when the junior miners start taking off again, there’s no telling how high they could go. To present the evidence and to discuss how to play the turning tides in the precious metals market, Casey Research is hosting a timely online video event titled Upturn Millionaires next Wednesday, February 5, at 2:00 p.m. Eastern. You’ll hear from resource legends and investment gurus such as Frank Giustra (watch this short and, I think, highly entertaining video for a taste of what you’re in for), Doug Casey, John Mauldin, Porter Stansberry, Ross Beaty, Rick Rule, and our own Louis James and Marin Katusa. Don’t miss this event—register here for free.
The world’s biggest economy is unraveling. Regular readers know we’re talking about the European Union (EU). The EU is an economic union made up of 28 countries. It was put together after World War II to keep European countries from going to war with one another. Over time, it turned into the world’s biggest economic experiment. And, right now, that experiment is going awry. As you probably heard, the United Kingdom voted to leave the EU a month ago. The “Brexit,” as folks are calling it, shook financial markets from London to New York City. It knocked more than $3 trillion from the global stock market in two days. Then, things calmed down. Over the past three weeks, global stocks have regained more than $4.5 trillion. The S&P 500 and Dow just hit new all-time highs. Many folks now think things are OK in Europe. As you’re about to see, things aren’t fine. That’s because Europe now has a much bigger problem than the Brexit. Italy, Europe’s fourth biggest economy, is racing toward a full-blown banking crisis. Today, we’ll show you why this isn’t just a problem for Italy. It’s a serious threat to all of Europe. One of our analysts even says Italy’s banking crisis could trigger the end of Europe as we know it. • Italy’s banking system is a disaster… Financial Times reported last week: The amount of gross non-performing loans held by the [Italian] banks increased 85 per cent to €360bn in the five years to 2015… The total stock of bad debts — the most distressed part of the pile — more than doubled over the same period. Non-performing loans, or “bad” loans, are loans that trade for less than book value. According to Financial Times, non-performing loans currently make up 18% of all of Italy’s loans. To put that in perspective, U.S. banks had a non-performing loan (NPL) ratio of 5% at the height of the 2008–2009 financial crisis. In short, Italy’s banking system is sitting on a keg of dynamite. Yesterday, The Wall Street Journal explained how Italian banks got themselves into this mess: Bad loans have grown at the astounding pace of €50 billion ($55.05 billion) a year since the 2008-09 financial crisis as banks resisted writing down bad assets. Banks and policy makers awaited a strong economic recovery that would allow debtors to repay more of their loans while providing banks greater profits to cushion write-downs. The recovery didn’t materialize, and the money injected into banks, up to €80 billion, via periodic market recapitalizations quickly dissipated as bank profitability stagnated due to an inefficient, fragmented financial system and near-zero or negative interest rates. • In other words, Italy’s banking system has three big problems… 1) The banks never recovered from the financial crisis. 2) Italy’s economy isn’t growing. And 3) negative interest rates are killing Italian banks. Dispatch readers know negative rates are a new radical government policy. They basically turn your bank account upside down. Instead of earning interest on your money at the bank, you pay the bank to watch your money. The European Central Bank (ECB) introduced negative rates two years ago, hoping this would “stimulate” Europe’s economy. Today, the ECB’s key rate is at -0.4%. That means European banks must pay €4 for every €1,000 they keep with the ECB. That might not sound like much. But it’s a huge problem for European banks that oversee trillions of euros. According to Bank of America (BAC), European banks could lose as much as €20 billion per year by 2018 if the ECB keeps rates where they are. • Italian bank stocks have nosedived… UniCredit SpA (USG.MI), Italy’s largest bank, has plunged 63% over the past year. Intesa Sanpaolo (ISP.MI), Italy’s second biggest, is down 45%. Banca Monte dei Paschi di Siena (BMPS.MI), Italy’s third biggest, is down 83%. And Banco Popolare (BP.MI), Italy’s fourth biggest, is down 79%. These are giant declines. Remember, we’re talking about the cornerstones of Italy’s financial system. Right now, these stocks aren’t telling us everything is OK. They’re saying Italy’s banking system could be insolvent. • The ECB might bail out Italian banks… Yesterday, Mario Draghi, who heads the ECB, said he would support a public bailout of Italy’s banks “in exceptional circumstances.” If this happens, the government will give money to Italy’s troubled banks and make taxpayers pay for it. If this sounds familiar, it’s because the U.S. government did the same thing during the 2008–2009 crisis. It gave hundreds of billions of dollars to the largest U.S. banks because they were “too big to fail.” The average American ended up footing the bill. The Oil Jihad just handed you the BIGGEST energy play of the decade Now you’ll have the chance to turn your next two paychecks into $109,845 or more with my analysis. And you’ll be able to do it over and over and over again for the next 12 months as the Saudis push this jihad to the limits. All it takes is one simple move! Recommended Links — – Rickards: “Don’t Buy A Single Ounce Of Gold…” **This is an URGENT warning from Jim Rickards.** If you’ve seen the writing on the wall, like me, you know that gold could soon hit $10,000 per ounce. However, today I’m urging you NOT to buy a single ounce of gold till you read what I have to say. Click here for access to my urgent gold announcement. • Italian bank stocks jumped on Draghi’s comments… Banco Popolare rose 4.0% yesterday. UniCredit rose 2.1%. And Banco Monte dei Paschi di Siena closed the day up 1.8%. In other words, investors are betting on a bailout. Nick Giambruno, editor of Crisis Investing, also thinks this will happen. He says Europe doesn’t have much choice: Italian banks will be bailed out, somehow, someway. Italy’s systemic weight is too big. A collapse of the Italian banking system is an existential threat to the euro, and probably the whole EU project. Nick, who’s in Italy right now, doesn’t think a bailout will fix Italy’s problems. At best, it will buy Europe time. Nick explains: A bailout won’t fix Italy’s main problem. The country hasn’t had any meaningful economic growth since it joined the euro in 1999. Even if a bailout can postpone a collapse of Italy’s banking system, it wouldn’t prevent a bubbling political crisis. You see, right now, a populist party is gaining control in Italy. According to the polls, it’s the most popular party in the country right now. And it’s gaining followers by the day. Nick says this is something investors can’t afford to ignore: The populist party blames Italy’s economic problems on the euro. It wants Italy to go back to the lira, its old currency. • Nick thinks the populist party could rise to power as soon as October… If this happens, Italy will likely hold a referendum like the UK did. But, this time, Italy will decide if it wants to stay with the euro or go back to the lira. If Italy votes to leave the euro, the fallout could be far worse than what we saw with the Brexit. Italy leaving the euro would destroy confidence in the currency. Longtime readers know this could be devastating. Like all paper currencies, “confidence” is all that backs the euro. If people lose faith in the euro, it will literally become worthless. Nick says this could happen sooner than most folks think: Italy is the third largest country in the eurozone. If it leaves the euro, I think it would destroy the currency. Without the euro, the economic linkages between EU countries would weaken. This could be a fatal blow to the EU itself. Bottom line, the euro and the whole EU project could very well die in Italy over the next six months. • Nick says a collapse of the EU could be “the biggest geopolitical event since World War II”… It could trigger a global stock market crash. It could drag the world into a deep depression. It could spark a global currency crisis. There’s really no way to know what would happen. Like we said earlier, the EU is one of the biggest economic experiments in history. If you’re worried about the state of the EU, you need to protect yourself. Your first step should be to own gold. As we often say, gold is real money. It’s protected wealth for centuries because it’s durable, easy to transport, and easily divisible. Its value also doesn’t depend on any central bank or government. If the euro runs into problems like Nick expects, gold’s value could shoot to the moon. • Nick will talk more about the impending explosion in Europe, and how it could trigger a global economic meltdown in October, in the next issue of Crisis Investing… You can learn how to receive Crisis Investing for 20% off the regular price by watching this video. You’ll also learn about another big crisis on Nick’s radar. As you’ll see, this crisis is already well underway. And it’s happening right here in America. The good news is that you can still protect yourself. We’ll even show you how to turn this coming crisis into a chance to make big gains. Watch this free video to learn how. Tech Recommendation of the Day: Buy or Sell IBM? For today’s and next week’s editions of the Dispatch, we’re sharing a special new feature with you. In place of our usual “Chart of the Day,” you’ll find valuable insight on technology stocks from tech expert Jeff Brown. If you don’t know Jeff, he’s a true tech insider and angel investor. Jeff is a 25-year veteran who’s built early-stage startups and ran organizations generating hundreds of millions of dollars in annual revenues. Yesterday, Jeff explained why tech giant Apple (AAPL) is “absolutely a sell.” Today, he tells us what he thinks about tech blue chip IBM. Keep in mind, the following is from a recent interview between Jeff and Amber Lee Mason, head of our affiliate Bonner & Partners: Amber Lee Mason: What about IBM? Jeff Brown: I am very unimpressed. This is a definite sell, and I think for a lot of people, a bit of a dangerous stock in the sense that people that have invested in IBM for years and years and years just want to hold onto this and expect that it’ll come around. But this is a dangerous stock to be holding, from my perspective. This used to be a $100-plus billion company a few years ago. This year, in 2016, it’s forecasted to be less than $80 billion, so down 20-plus percent in just a few years. They’ve had five years of declines in revenue. Their large legacy business continues to hold the company back. Another example: It’s been way too slow to adjust to crowd-based business models, and a lot of its other businesses, traditional businesses, are lower margin… and it’s just not that competitive. I do like what IBM does from a research perspective, but they really struggle to monetize their research. So a great example would be Watson. You know, they spent billions investing in IBM Watson, which is their artificial intelligence computing platform. And it has been estimated that, in 2015, it only generated about $200 million in revenue. The CEO was quoted as saying recently that, by 2018, she hopes Watson will generate about $1 billion. So to put this in perspective, it won’t even be until 2018 when it might generate $1 billion in revenue. And that’s against a company that’s doing $79 billion to $80 billion in annual revenue. So my point is, Watson won’t have that significant of an influence at all, even three years down the road, on the company’s overall performance. So there’s just so many better technology companies to own than IBM right now. Jeff may be bearish on IBM. But he sees HUGE opportunities in other tech stocks. In his newsletter, Exponential Tech Investor, Jeff explains how to invest in some of the most exciting technology companies on the planet. Most investors don’t even know these companies exist. Right now, you can lock in a subscription to Exponential Tech Investor for $500 off the regular price. We’ll even give you chance to “test drive” the service — and access all of Jeff’s research—for a full 30 days. This offer won’t last long, so make sure to act soon. Click here to learn more.
A note from the editor:Please consider making a voluntary financial contribution to support the work of DNS and allow it to continue producing independent, carefully-researched news stories that focus on the lives and rights of disabled people and their user-led organisations. Please do not contribute if you cannot afford to do so, and please note that DNS is not a charity. It is run and owned by disabled journalist John Pring and has been from its launch in April 2009. Thank you for anything you can do to support the work of DNS… The police and Crown Prosecution Service (CPS) are facing questions over why an “utterly barbaric” campaign of violence and abuse directed at a disabled mum and daughter was not treated as disability hate crime.A family of four were jailed last week for a total of more than 46 years for imprisoning the two disabled women and treating them as slaves as they forced them to work in two flats in Coventry.The mother and daughter were repeatedly beaten, and had to eat dried pasta, while the younger woman was so hungry she resorted to eating scraps of food from a bin.The court heard that the family knew the two women had learning difficulties but treated them in an “utterly barbaric manner”, preventing them accessing their own home, and restricting their access to food, heating and their ability to clean themselves.But despite the apparent evidence of disability-related hostility, the offences were not treated in court as hate crimes, so no attempt was made to seek stricter sentences under section 146 of the Criminal Justice Act.The court had heard details of a campaign of bullying, intimidation and repeated violent assaults, led by ring-leader Jean Kelly.One of the two women was made to clean and carry out other chores at Kelly’s flat, while the other had to work at Kelly’s daughter’s flat in another part of Coventry. They were each paid one cigarette a day for their work.Jean Kelly was found guilty of two charges under the Modern Slavery Act (MSA), as well as offences of grievous bodily harm (GBH), actual bodily harm and conspiracy to falsely imprison, after a trial at Warwick Crown Court in September.Three other members of her family also received prison sentences, with her husband Michael jailed for 14 years for conspiracy to falsely imprison and GBH, their daughter Anastasia Hitt jailed for four-and-a-half years for conspiracy to falsely imprison and an MSA conspiracy charge, and her partner Ian Healy jailed for 14 years for conspiracy to falsely imprison and GBH.Media reports state that Jean Kelly, herself a wheelchair-user, assaulted one of the two women with a baseball bat she called “Bob”.She had previously been jailed for 18 months for pouring boiling water on her step-brother, who also had learning difficulties.The judge reportedly told Jean Kelly that her behaviour “demonstrates a sustained interest by you in taking advantage of those with learning difficulties and maltreating them”, while he said the other three members of the family had sought to exploit the pair for their own gain.But despite his comments, a CPS spokesman confirmed this week that prosecutors had not treated the offences as disability hate crimes.He said: “The CPS takes prosecution of all kinds of hate crime, including against disabled people, extremely seriously.“In order to prosecute a case as a hate crime there must be evidence the criminal actions are motivated by hostility towards the protected characteristic.“In this instance prosecutors felt the facts did not allow the case to be prosecuted as a hate crime but very serious charges were brought against the defendants who ultimately received prison sentences totalling almost 50 years.“Our thoughts are with the victims in this case and we hope the outcome offers them some comfort as they rebuild their lives.”West Midlands police refused this week to confirm its officers’ apparent failure to treat the offences as disability hate crimes, and why they failed to do so.The latest failure of the criminal justice system to recognise disability hate crime came just days after the CPS annual hate crime report showed that the number of disability hate crime cases referred to prosecutors by police forces in England and Wales plunged last year by nearly a quarter.The number of disability hate crime convictions also slumped, from 800 in 2016-17 to 564 in 2017-18 (a drop of 29.5 per cent).Earlier this month, a report by two watchdogs found that the work of police officers on more than half of the disability hate crime investigations examined across six sample police forces – not including West Midlands – had been found to be “unacceptable”.
Add to Queue Next Article It takes a solid strategy, self-discipline and patience to reshape public perception. –shares Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Opinions expressed by Entrepreneur contributors are their own. Lida Citroën Reputation management and personal branding expert Guest Writer 7 Ways to Recover After a Reputation Crisis Reputation Management Image credit: praetorianphoto | Getty Images Several times a week, I receive an urgent email along these lines: “I think I need to hire you. Google my name and you’ll see why.” These individuals’ financial and legal representatives are struggling to help them repair damage to their good name after an incident or event. If you’re an investor, publicist, agent or attorney, you might work with clients who find themselves in the crosshairs of a personal reputation crisis. The list of possible reasons is endless, and I’ve heard them all. Maybe you’re advising a client who’s experienced one (or more) of these situtations:Violated company policy.Been accused of defamation or libel.Said something inappropriate in a media interview.Posted or shared something offensive online.Been caught in the wrong place at the wrong time.Angered former employees, investors, reporters or love interests who’ve taken to social media for revenge.Related: My Big Failures Cost Me My Reputation and My Business. Here’s What I Learned — and How I’ve Bounced Back.Reputation repair is a subspecialty within reputation management. And it’s getting greater attention in our current climate due to the #MeToo movement, higher scrutiny of corporate executives and the visibility of social media. These factors exponentially have elevated demand for individuals to live authentic, culturally acceptable lives whose careers embody that same meaning. But sometimes they don’t.Crisis is inevitable when public perception of an individual’s value and contributions conflict with who he or she wants to be. It’s a very public type of dissonance. Reputation-management specialists are trained to help people navigate options, design proactive strategies, manage the emotional rollercoaster and recover after the dust settles.It can be challenging to wake from a perception nightmare. My clients’ names, companies, careers and livelihoods are in jeopardy unless we can resolve the issue or repair the damage. Sometimes we must pivot, changing how the individual is seen in a specific market, with online audiences, within a company or in a home community at-large. In these cases, I often wish I’d been involved earlier to help minimize negative impact or avoid larger missteps.In the words of Warren Buffett, “It takes 20 years to build a reputation and five minutes to ruin it.”Related: Listen to Warren Buffett: Your Reputation Is Worth Cold, Hard CashSeveral reputation-repair companies propose a two-pronged digital approach: They’ll manipulate Google algorithms so critical posts don’t show up first and then spin a story to change the way an individual is seen publicly. They charge a lot of money for this work. Unfortunately, it’s not that simple.It’s true that clients need quick triage. But they also need long-term solutions to right their reputations, for good. Here’s how — with examples from real-life clients whose specific details have been changed to protect confidentiality.1. Set realistic goals and expectations.If a client is facing multiple criminal charges for assault, it might be unrealistic to position him or her as friendly and approachable. When counseling your clients, talk about the reality of the situation and the gravity of public perception. You need to acknowledge both to rebuild or reboot their personal brand.This understanding is the basis of setting attainable goals. Is it feasible your client will work again in her or his previous industry? Should your client refrain from posting on social media? Does reputation repair need to come from your client’s community or followers instead of directly from the perceived wrongdoer? What is a realistic timeframe before the situation or damage is in the rearview mirror?Expectation-setting will not be easy for your client. Use your legal, administrative, financial and PR tools to gauge their sense of reality about what they’re facing. If your client isn’t willing to accept certain, realistic limitations, other experts might be able to help adjust expectations from the outset.Related: 4 Personal Reputation Management Tips for Entrepreneurs2. Assess the damage.Conduct a thoughtful and thorough perception sweep of the reputation hit’s after-effects. This includes assessing digital impact such as social media, online relationships and Google search results. The evaluation gives you a baseline. How serious is the situation? Sometimes the way we believe the situation to be is not reflected in the business impact of the damage.One of my clients was accused of sexual harassment several years ago and sued by two former employees. The parties settled the suit, and the case went quiet. My client received adequate training to manage his behavior and focused on building his company.As his organization grew in visibility and notoriety, those former employees banded together and began personal attacks via several social-media review sites. This caught attention, making current and prospective investors nervous. They questioned whether my client’s past behavior was part of a pattern that could jeopardize their stake and expose them to risk. I performed a solid perception sweep, considering social media, traditional news outlets and market reputation. My findings confirmed the past incident was “isolated and resolved” in the marketplace and posed no risk to investors, employees or customers. The proactive approach enabled my client to take control of how he and his company moved forward.Related: 6 Tools for Monitoring Your Online Reputation3. Separate emotion from the necessary work.It can be difficult to help clients separate feelings from facts, even if you’re trained in dealing with highly emotional individuals. A reputation crisis is a deeply personal ordeal that plays out on a very public stage. Each online comment, rejected meeting or funny look reinforces their vulnerability. Help your client understand what’s true and what is merely believed to be true. Another of my clients suffered terrible workplace bullying during her time with a large company. Her colleagues intentionally left her out of key meetings or critical email exchanges, then claimed she ignored invitations and messages. They spread rumors about her marriage and home life. These “adults” went so far as to snicker at her when she passed by. My client spoke to her supervisors, who repeatedly told her it was her imagination and offered suggestions on projecting a more confident persona. This went on for several years.By the time my client left the company, she was emotionally shattered. Needing to find a place she felt safe and capable, she took a new job well below her skill level. There were other drawbacks, too. The poor track record at her previous employee and her demotion in taking the lesser job tarnished both her professional resume and her credibility in her field. She had to reclaim her career so she could again work at a level that reflected her capabilities and qualifications.We focused on facts only. Our frank conversation removed the high emotion. Which aspects of the situation should she claim accountability for, and which were beyond her control? What behavior was hers? What belonged to colleagues with questionable moral compasses? We picked apart what happened and the choices she’d made in response to hostile conditions. Then, we re-established her career plan, building on her successes and downplaying shortcomings. Related: 8 Steps to Surviving Workplace Bullying and Salvaging Your Reputation4. Thoughtfully plan your media strategy.You’ll need to decide whether it’s smart to proactively issue a statement, craft a message and choose the right person to make the statement. That’s the easy part. Understanding the pre-work and after-effects of communicating with the media — traditional and online — requires finesse.Not every reputation-repair strategy leverages the media. In some cases, pulling away from the public view is a better approach. One client in Australia needed to quit social media cold turkey and cease responding to media inquiries. The news surrounding his situation was too hot; the community and his industry, too upset. In the immediate term, the best strategy was not saying anything. Later, when we could communicate more effectively, rebooting his reputation through media channels proved valuable to shape public perception.Another client, an attorney, had acted as a public spokesperson for a prominent executive and his business. The attorney had low credibility, and he lacked the charisma and acumen needed to create a positive media impression. As a result, he could not effectively defend the executive in the court of public opinion. We pulled the executive out from the attorney’s shadow, connecting him with a trusted journalist who helped tell his story — in his own words.Related: 4 Mistakes You’re Making That Can Jeopardize Your Reputation5. Pick your social-media fights carefully.Social media is like traditional news media in one important way: It requires careful planning and strategy. If your client has engaged in social-media fights before involving you, the damage may already be done.Whenever possible, remind your client of the uncontrolled and volatile nature of the online community. When people are upset, hurt or angry, they lash out. Give them a keyboard, and they can tell the world. In many cases, upset people need to vent. Engage in a battle with them and you’ll get a very visible war that’s permanently etched in the public realm.Instead, use social media as a feedback tool, a perception meter and a way to share the good, honest reality of what’s being done to make things right. Worked correctly, social media can be a goldmine. Wielded incorrectly, it can make reputation repair very challenging.Related: These Social Media Fails Got People Fired6. Explore all the options.As the world becomes more transparent and Google makes mistakes more longlasting, a client may need to explore unpleasant options. He she shouldn’t rule out serving time for the crime (figuratively speaking) instead of spending years fighting allegations, switching industries or even changing names. One of my clients had spent five years and all her resources suing her former employer. She felt justified and sought justice at all costs. Her reputation and career were tightly bound to the lawsuit’s headlines, and anyone searching her name online inevitably would see the play-by-play. She was battling a giant corporation with the resources to keep lawyers on speed dial. She depleted her savings account, and her marriage failed. Only then did she realize the fight wasn’t worth the tremendous toll it had taken.This certainly wasn’t the outcome she’d hoped for. By the time she was referred to me, her options had narrowed. To rebuild her reputation and career, we needed to untether her from the headlines. She changed her work focus, returned to her maiden name and employed other tactics. These moves helped rebuild her confidence so she could pivot to a future that held opportunities for income and happiness.Related: 15 Steps I Took to Successfully Reinvent Myself After Losing Everything7. Be honest with yourself (and your client).If you’re out of your depth, admit it. Seek help or training to craft messages, answer media requests or advise your clients how to represent themselves. One timely, informative example provides a lesson from two parties currently involved in a legal dispute. (Full disclosure: Neither is a client of mine.)Aly Raisman is the face of Team USA gymnasts sexually assaulted by their longtime team doctor, Larry Nassar. After the Senate hearing on these abuses, Raisman approached Sarah Hirshland, the new CEO of the U.S. Olympic Committee (USOC). Hirshland told Raisman she was not permitted to speak to her. In fact, Hirshland wouldn’t even shake Raisman’s hand.As pending litigation continues between the USOC and assault victims, it might be sound legal advice to avoid public greetings. But the “brush-off” created an optics problem that translates into questionable reputation advice. Whatever time the USOC spent crafting the CEO’s messaging was wasted in that moment. The media didn’t talk about Hirshland’s plans to fix entrenched problems. Instead, headlines said she snubbed Raisman. The new CEO might have fared better if she’d been advised to remain courteous. Perhaps she could have expressed a desire to work together with athletes after the legal proceedings are over.The lesson: If ever you find yourself wondering if you should consult an expert, hire one.Related: If a PR Crisis Happens to Your Company, Will You Know What to Do?Candidly speaking, clients aren’t at their best in a reputation crisis. They feel powerless as others thrash their names and question their values. The shame of the situation can be devastating. Your clients need a trusted advisor who can counsel them to look at the big picture. While Google and Facebook might be forever, your clients can retain dignity and assert control over who they are and how they choose to show up in the world. Enroll Now for $5
Entrepreneur Staff Could LinkedIn’s New Intro App Put Your Private Info in the Wrong Hands? Andrea Huspeni Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Add to Queue October 25, 2013 Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Special Projects Director and Founder of This Dog’s Life Register Now » 2 min read Technology –shares In what was supposed to be a nifty new mobile app, LinkedIn’s Intro is now being put under the microscope over security concerns.Intro is a new service integrated into the iPhone Mail app that allows users to see LinkedIn profile information when receiving emails. So instead of seeing a bland email signature from Jane Doe, users are able to view Jane’s profile picture, job title, education history and mutual contacts, among other information.Sounds pretty cool, especially coming from LinkedIn, a company that hasn’t exactly been innovative on the mobile front. But security researchers think otherwise. Related: How to Avoid One of the Biggest Email Hacking Threats In order for Intro to work, LinkedIn needs to decrypt emails, insert profile information and then re-encrypt it. This process could possibly compromise secure information and allow hackers access to private data. “I don’t think people who use this are seriously thinking about the implications of LinkedIn seeing and changing their email,” Richard Bejtlichs, the chief research officer at computer security company Mandiant, told The New York Times. He continued, “I worry LinkedIn is not going to treat this as the holy grail for people’s email, even though it is. The risk is that you essentially trust a box, run by LinkedIn, with your email. It’s a target for someone that wants to get to your email.” This same tactic was used by Iranian hackers to break into Gmail in 2011 and Edward Snowden claimed the National Security Agency used the same technique to gain access Google traffic data, the Times reported.Related: How to Avoid Getting Hacked (Infographic) In a blog post, LinkedIn rebuffed the claims that Intro could expose private information and ensured users their data was safe. Let’s hope so, as LinkedIn doesn’t exactly have a stellar record for securing user’s information. The company made headlines in 2012 when 6.4 million accounts were hacked.What are your thoughts on LinkedIn’s new features? Do you trust it? Let us know in the comments below. Next Article
–shares Google News Quits Spain Over New Copyright Law This story originally appeared on Reuters Next Article Google said it plans to close its news-linking service in Spain in response to legislation under which publishers will soon be able to force Internet sites to pay for re-publishing headlines or snippets of news.In a statement, the search giant said the new law makes the Google News service unsustainable and that it will remove Spanish publishers from Google News sites worldwide and shut down this service in Spain on 16 December.The move also means readers in Latin America and around the globe will no longer find links to articles from any Spanish news publishers on Google News.The change to the copyright law, which is set to take effect in January, only applies to news aggregation sites such as Google News or domestic rival Meneame (Meneame.net).It does not prevent Google users in Spain or elsewhere from reading snippets of the same stories when they look up news in Google search results, where Google stands to capitalize by selling ads alongside news stories that turn up.”The new law requires publishers to charge Google News for showing even the smallest snippets of their content — whether they want to charge or not,” the company said. Google News displays no advertising and makes no revenue from the service, it noted.Google’s action caps a decade of acrimony with news publishers who blame the search giant for revenue and readership declines. The company maintains that it sends millions of clicks that allow news sites to make money via online advertising.The stand-off also comes amid a growing campaign by politicians, regulators and courts across Europe to rein in Google’s power over the Internet search market and the impact it has on deeply ingrained social norms around personal privacy.The European Union’s recently installed digital commissioner Guenther Oettinger said in October that he was mulling a regional Internet copyright levy, taking aim at Google.In recent years, publishers in countries from Germany and France to Spain have pushed to pass new national copyright laws that force Google and other web aggregators to pay licensing fees when they publish snippets of their news articles.In Spain and Germany, these laws require publishers who want their content to continue to show up in Google search results to give the company explicit permission to do so.Google has responded by requiring publishers to release it from any liability for licensing fees under such laws.The Spanish law thwarts this by giving publishers an “inalienable” right to levy licensing fees.However, in November, Germany’s largest publisher, Axel Springer scrapped a bid to block Google after an experiment by a consortium of about 200 German publishers caused online traffic to plunge. Internet search experts say the shutdown of Google News in Spain may be greater on smaller, less-well known news publishers than on name-brand news sites who are less reliant on the site to draw in readers.For the top five Spanish news sites (ElPais.com, ElMundo.es, ABC.es, LaVanguardia.com and ElPeriodico.com), referrals from sites such as Google News are responsible for less than a quarter of traffic, ranging from 8 percent for ABC to 21 percent for La Vanguardia, according to online traffic measurement firm SimilarWeb. Social networks such as Facebook make up a smaller amount.Google’s move also does not appear to affect current agreements it has with major Spanish publishers to supply them with ad-serving technology that in effect creates a private ad marketplace to support their respective publications.Reacting to the announcement, the Spanish ministry of education, culture and sport said the company was making a business decision to pull out of certain services but that the government remained open to negotiation about how it implemented what its statement referred to as a ‘Google tax’. Add to Queue Free Webinar | July 31: Secrets to Running a Successful Family Business December 11, 2014 4 min read Image credit: Reuters | Dado Ruvic Register Now » Google Reuters Learn how to successfully navigate family business dynamics and build businesses that excel.
January 28, 2016 I started Cutler PR in 2009 at age 22 — just three months out of college. I began the business in my bedroom, with $200. I was scrappy and focused on results, and I hustled to make my company a success. As a millennial entrepreneur, I did things that in many ways were different from the actions of previous generations of entrepreneurs.Related: Millennials ‘Are Great Problems to Have’Here are a few of the top characteristics that set today’s millennial entrepreneurs apart:1. We grew up on entrepreneurship.Past generations idolized climbing the corporate ladder, whereas for millennials, business success has often been envisioned in the form of enterprising endeavors.”Gen Y is the first generation to grow up with entrepreneurial role models,” says Donna Fenn, author of Upstarts! How GenY Entrepreneurs are Rocking the World of Business and 8 Ways You Can Profit From Their Success.Our parents looked to the CEOs of Fortune 500 companies, like Chrysler’s Lee Iacocca and GE’s Jack Welch, for career inspiration, but we grew up watching Steve Jobs lead the renewed Apple, Mark Zuckerberg create a social media sensation and other young innovators break new ground. We saw entrepreneurs, not corporate titans, as the rock stars — and we all wanted to be them.Not only did these role models attract us to entrepreneurship through role models, but events simultaneously repelled us from the traditional corporate lifestyle: We watched corporate scandals unfold, experienced elders get laid off or fired and other facets of the downside to corporate life reveal themselves.We were inspired to create our own paths.2. We are highly collaborative.”Millennial entrepreneurs tend to be highly collaborative, and less protective when it comes to ideas,” says Fenn.Those from the older generations will often play their ideas, the way they do their cards, close to the vest. But millennials are more likely to pitch their ideas, to gain feedback from peers and lay everything out there for the world to see and respond.Millennial entrepreneurship is also often a group effort, and companies headed by co-founders are the new norm. Mark Zuckerberg, for example, doesn’t even have a private office — like everyone else at Facebook, he sits at a desk in a massive open-floor plan.Related: 3 Millennial Marketing Tips From Taylor Swift3. We are digital superstars.Although Gen Z is often seen as the techiest generation of them all, that title really belongs to Gen Y — whose members came of age during the peak of the digital revolution.”Although the iPhone might as well be an extra appendage for Gen Zers, millennials have developed a unique understanding of the inner workings of devices that have become more and more intuitive over the years,” says Aron Cutler, a doctoral candidate in psychology and a millennial techie.“When millennials were impressionable children,” Cutler says, “they needed to figure out clunky computers via trial and error, giving them a deeper knowledge.” And with this resulting intimate knowledge of technology, starting a business became much easier for millennials.The widespread use of mobile technology and other modern resources has allowed these younger entrepreneurs to start and run businesses from their homes, significantly reducing startup costs.The cloud and the varioius SaaS offerings have morever enabled automation to occur throughout all departments — from marketing to sales to accounting to operations — and that has cut costs significantly.4. We’re motivated by purpose.Most millennial entrepreneurs are not motivated solely by money. Money is important, of course, but being passionate about our work and knowing its larger meaning is at the center of the millennial entrepreneurship mindset.Millennials want to know their work is making some impact and helping to make the world a better place.I believe many millennial entrepreneurs would choose work that makes a difference, and pays less money, over the opposite work scenario.5. We think outside of the box and constantly strive to learn.We graduated during the worst recession in decades. Many of us were up to our necks in student loans. We couldn’t find jobs.To dig out of this financial mess, we millennials have had to be extremely creative and learn to do things in new ways. In fact, entrepreneurship education is now very popular in colleges and universities, Fenn says.“I think millennial entrepreneurs want to learn first,” she adds. “I think that that’s what motivates them to start companies.”The millennial entrepreneur mantra? To create awesome companies, as a team, and to use technology, ultimately to better the world. Most importantly, we want to always learn, especially from our failures, because that’s another aspect of who we are and the unique path we’re on.What do you think? What traits do you think are most important to the success of millennial entrepreneurs?Related: 3 Ways to Turn ‘Unteachable’ Millennials Into Disciples Register Now » Founder & CEO, Cutler PR 86shares Millennials Image credit: Shutterstock.com Add to Queue Zach Cutler Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals 5 Unique Traits of Millennial Entrepreneurs 5 min read Next Article Guest Writer Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Opinions expressed by Entrepreneur contributors are their own.
Sergio Marchionne, CEO of Fiat Chrysler. Add to Queue Next Article Image credit: Reuters | Rebecca Cook July 13, 2016 2 min read FCA To Offer Rewards To Hackers Who Help It Find Security Flaws Fiat Chrysler Automobiles NV will offer rewards of as much as $1,500 to ethical hackers who tell the auto maker about data security weaknesses in its vehicles, the company said.FCA’s move comes a year after independent cybersecurity researchers used a wireless connection to turn off a Jeep Cherokee’s engine. The hack, reported in Wired Magazine, alarmed auto makers and regulators, and it led FCA to recall 1.4 million vehicles to prevent the use of a wireless connection to gain control of the vehicle.FCA officials said Bugcrowd Inc. of San Francisco, which manages similar programs for a range of companies including Tesla Motors Inc. will manage its “bug bounty” program.Casey Ellis, Bugcrowd’s chief executive, said in a media briefing that his company has 32,000 researchers that work through its service. Bugcrowd rates researchers based on the quality of their work, he said.Auto makers have stepped up efforts to address concerns that vehicles equipped with high-speed internet connections could be vulnerable to cyber intruders and criminals who could seek to harvest personal data through vehicle systems, or perpetrate other mischief such as disabling a car and demanding a ransom to bring it back to life.In July 2015, several major auto makers formed an Automotive Information Sharing and Analysis Center, or Auto-ISAC, to serve as a clearing house for information about cyber threats. The group said in a statement this week its members now account for 99 percent of light duty vehicles on the road in North America.Titus Melnyk, FCA senior manager for security architecture, said FCA could share information generated by the Bugcrowd program with other automakers through the Auto-ISAC. “We’ll err on the side of what’s right for the industry,” he said in a briefing for reporters.General Motors Co. has a program managed by San Francisco cybersecurity company Hackerone that offers recognition, but not cash, to researchers who identify and share cybersecurity gaps with the company. The company has also begun hiring outside cybersecurity experts and has a group of employees that test the company’s systems, Jeffrey Massimilla, GM’s chief product cybersecurity officer, told Reuters.Massimilla said GM may offer cash bounties to ethical hackers, but said, “If you put up a small bounty you aren’t going to get good research.”(Reporting By Joe White; Editing by Cynthia Osterman) The only list that measures privately-held company performance across multiple dimensions—not just revenue. –shares This story originally appeared on Reuters Reuters Cars 2019 Entrepreneur 360 List Apply Now »
Ultimate Software’s EVP and Former CFO Becomes Medallia’s Fourth outside DirectorMedallia, Inc., the global experience management leader, announced the appointment of Mitchell K. Dauerman, former Chief Financial Officer of Ultimate Software who currently serves as the company’s EVP of Investor Relations, as a new member of Medallia’s board of directors.Under Dauerman’s leadership, Ultimate Software grew from a market cap of $180 million and 299 employees in 1998, to a company with a current market value of over $11 billion and more than 5,200 employees.“We are honored to have such an accomplished executive become a member of our board,” said Leslie Stretch, President and Chief Executive Officer of Medallia. “Mitch’s experience with building Ultimate into a cloud leader, that changed the market for human capital management, gives him a perspective perfect for advising Medallia as we continue to disrupt the status quo around experience management.”Marketing Technology News: Sales Engagement Leader Outreach Reaches Unicorn Status, Raises $114 Million Series E“Medallia is in a unique position as a visionary company with a clearly differentiated platform. Experience management is the strategic priority of every organization today. Medallia’s technology enables their clients to engage their customers and employees in the relentless improvement of experience, making Medallia strategic and transformative to the enterprises and partners they serve,” said Dauerman. “I am honored to join the Medallia board and excited to contribute to the company’s continued success.”Marketing Technology News: PCM Partners with RingCentral to Bring Cloud Communications Solutions to EnterprisesAt Ultimate Software, Mr. Dauerman acted as CFO for 22 years, and is currently the company’s Executive Vice President, focusing on investor & sales relations. Prior to joining Ultimate, Mr. Dauerman worked at KPMG LLP for 17 years, including serving as a Partner in the firm from 1988 to 1996. Mr. Dauerman is a Certified Public Accountant. He received his B.A. from Rutgers University.Marketing Technology News: DemandBlue launches DemandBlue Labs, a Salesforce Innovation Org for its Customers Medallia Names SaaS Veteran Mitchell K. Dauerman to its Board of Directors PRNewswireApril 24, 2019, 4:03 pmApril 24, 2019 EVPExperience ManagementMarketing TechnologyMedalliaMitchell K. DauermanNewsSaasUltimate Software Previous ArticleNew Entity Helps Customers Reimagine What’s Possible With DigitalNext ArticleLargest Mobile Lockscreen Platform Buzzvil Partners with Japan’s Ponta
Audience Intelligence PlatformElementOneidentity and marketing analyticsJCDecauxMarketing TechnologyNeustarNews Previous ArticleDigital Audio Can Be An Advertising MVP – If Navigated CorrectlyNext ArticleIBI Group Launches TravellQ Traveller Information Software Neustar and JCDecaux North America Partner to Bring Mobile Location Intelligence to Digital and Analog Out-of-Home Advertisers PRNewswireMay 22, 2019, 6:39 pmMay 22, 2019 Partnership Allows Brands, Publishers and Agencies to Plan, Target, Visualize and Segment Consumer Audiences Outside the HomeNeustar, Inc., a trusted, neutral provider of real-time information services and the leader in trusted customer identity and marketing analytics solutions for Fortune 500 brands, and JCDecaux North America, Inc., the number one outdoor advertising company worldwide, announced a partnership to bring advanced mobile location intelligence to modern digital and analog Out-of-Home advertisers. Neustar’s trusted customer identity solutions offer a single source of robust, person-based data that has been securely pseudonymized to protect consumer privacy.Combining the power of programmatic and location-based data with the delivery of physical advertising is essential and our partnership with JCDecaux addresses this for Digital Out-of-Home (DOOH) marketers.This announcement expands on the companies’ initial partnership in 2017.Currently, Neustar and JCDecaux North America analyze outdoor advertising assets against audience data via Neustar’s audience intelligence platform, ElementOne. Now, ElementOne will also provide JCDecaux North America with location data derived from geospatial mapping capabilities to understand foot traffic and measure audiences in geographic areas like airports, malls, retail locations, designated market areas (DMAs), and ZIP Codes.“Combining the power of programmatic and location-based data with the delivery of physical advertising is essential for today’s quickly evolving Digital Out-of-Home (DOOH) vertical,” said Neustar General Manager of Customer Intelligence Hyune Hand. “Expanding our relationship with JCDecaux North America enables them to effectively and intelligently sell DOOH media by obtaining, analyzing, and activating upon exclusive location-based insights, while providing unrivaled intelligence surrounding these consumer audiences through Neustar’s identity resolution offering.”Marketing Technology News: Jumpshot Releases State of eCommerce Data Report that Reveals New Retail Strategies for Sponsored Search, Affiliate Marketing and InfluencersBy including its geospatial intelligence natively into the ElementOne Platform, Neustar enables agencies, brands, and media owners to leverage mobile location data in a privacy-compliant way to drive insights and to buy and sell audiences based on observed in-market behavior. This analysis is aggregated to a group level and pseudonymized, allowing for powerful insights and activation but preserving privacy.Now brands, publishers and advertisers can leverage location-based insights to:Visualize mobile signal density of an audience, location, or custom geo-fenced area to determine your ideal target markets;Develop comprehensive audience profiles by connecting pseudonymized location signals to a broad range of demographic and psychographic variables;Analyze audience foot traffic patterns, daily commutes, and daytime/nighttime population data to determine peaks or lulls in transitory tendencies;Improve campaign efficacy by engaging audiences with personalized messages and promotions based on their attitudes, lifestyles, and purchase behaviors;Geo-fence a custom polygon around a competitor’s locations to identify opportunities for engaging interested potential audiences with custom offers;Measure campaign efficacy by connecting the dots between a DOOH asset and digital marketing campaigns.Marketing Technology News: Baidu’s Mobile Reach Expanded to 1.1 Billion Monthly Active Devices in March 2019“Neustar brings best-in-class identity data and audience profiling capabilities, as well as the best combination of platform tools, to help us get the most for our Out-of-Home inventory, which we make available to our advertiser partners,” said JCDecaux Co-Chief Executive Officer Jean-Luc Decaux.Neustar’s ElementOne platform combines customer data with consumer demographics and behavioral data to create audience groups that are unique to a business, channel, and product, so that marketers can target with granularity or at scale. ElementOne enables businesses to access more than 20,000 audience profiles, ranging from psychographic and behavioral attributes to attitudes, preferences, buying patterns, interests, media usage, and more.With ElementOne integrated into Neustar’s Identity Data Management Platform (Identity DMP), marketers can now identify audiences based on observations in the physical world and activate directly online, or, via this expanded partnership with JCDecaux, directly to Out-of-Home advertising. No matter the channel, Neustar always leverages Privacy by Design principles and ensures full compliance with applicable privacy laws.Marketing Technology News: Alibaba Cloud Expands Offerings for EMEA Partners
Elon Musk makes light of Tesla’s woes in April 1 Twitter prank Tesla said Thursday it withdrew from participating in a US probe of a fatal crash last month that killed a driver who was using its “Autopilot” feature. © 2018 AFP Tesla said the decision was due restrictions on disclosing information about the accident.The company exited a party agreement governing a National Transportation Safety Board probe into the fatal March 23 crash in California. The NTSB demands participants in investigations to not release information about the probe before the agency and reportedly balked at Tesla’s public statements about the deadly crash.The agreement with the NTSB “requires that we not release information about Autopilot to the public, a requirement which we believe fundamentally affects public safety negatively,” a company spokesperson said.”We believe in transparency, so an agreement that prevents public release of information for over a year is unacceptable.”However, Tesla will “continue to provide technical assistance to the NTSB,” the spokesperson added.NTSB Chairman Robert Sumwalt told Tesla Chief Executive Elon Musk in a phone call Wednesday that the agency decided to remove Tesla from the investigation due to the disagreement, Bloomberg News reported.An NTSB spokesman said the agency would comment publicly on the issue later Thursday.Tesla has released several statements on the accident, including in a March 30 blog post that expressed sorrow for the family, but defended its technology and pointed responsibility for the crash on the driver, Walter Huang.Huang’s hands were “not detected on the wheel for six seconds prior to the collision,” Tesla said.”Tesla Autopilot does not prevent all accidents -– such a standard would be impossible -– but it makes them much less likely to occur. It unequivocally makes the world safer for the vehicle occupants, pedestrians and cyclists,” the company said.The company also noted that the accident occurred at a confusing highway interchange, and the protective shield on the concrete barrier involved in the crash was not in proper condition.Huang’s family has hired the Minami Tamaki law firm to “explore legal options” following the fatality, the firm said.”The firm’s preliminary review has uncovered complaints by other Tesla drivers of navigational errors by the Autopilot feature, and other lawsuits have also made this complaint,” Minami Tamaki said in a strongly-worded statement. “The firm believes Tesla’s Autopilot feature is defective and likely caused Huang’s death.””The family wants to investigate this incident and help ensure that this tragedy does not happen to other consumers who buy semi-autonomous vehicles,” said Mark Fong, a partner at Minami Tamaki. Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Tesla objects to government restrictions on releasing accident data on a fatal crash in California late last month Citation: Tesla exits US probe of fatal ‘Autopilot’ crash (2018, April 12) retrieved 18 July 2019 from https://phys.org/news/2018-04-tesla-exits-probe-fatal-autopilot.html
CEO Elon Musk sent an e-mail to company employees Sunday praising them for producing 5,000 Model 3s, a compact car that’s designed to shift Tesla from a niche manufacturer to a mainstream automaker. Musk also said the company had cranked out a combined 2,000 of Model S sedans and Model X sport-utility vehicles, bringing overall production to a record 7,000 for the week.”We did it!” Musk wrote. “What an incredible job by an amazing team.”The e-mail was reported by the website Electrek, and the company confirmed its authenticity.Last summer, when the first Model 3s began rolling off the assembly line, Musk promised to build 5,000 per week by December and 10,000 per week in 2018. But he also warned at the time that Tesla was entering at least six months of “manufacturing hell” as it tried to hit the targets.Dave Sullivan, manager of product analysis at the market research firm AutoPacific Inc., wasn’t impressed. “Reaching it is one thing,” Sullivan said. “Consistently producing 5,000 per week with outstanding quality is another. I don’t think producing 5,000 once is anything to get excited about until it’s repeatable.”Model 3 sales are critical to Tesla’s future. The company has never posted a full-year profit, and it burned through more than $1 billion in cash in the first quarter. Wall Street investors, who have pushed the company’s stock beyond $340 per share, are growing impatient with the losses.Moody’s Investor Service downgraded Tesla’s debt into junk territory back in March, warning that Tesla won’t have cash to cover $3.7 billion for normal operations, capital expenses and debt that comes due early next year. Tesla said cash from Model 3 sales will pay the bills and drive profits.The company reached 5,000 per week as Musk spent many nights inside the Fremont, California, factory that once belonged to a joint venture between General Motors and Toyota. To quickly put another assembly line in place, Tesla built a large tent at the factory site. Musk told investors on a first-quarter earnings conference call that the company relied too heavily on automation. It had to hire more people to work at the factory.Tesla said in April that it had about 450,000 orders for the Model 3. But some could be getting antsy, especially those who want a price closer to the base of $35,000. Currently Tesla is selling only Model 3s that cost $49,000 to in excess of $70,000.Many have been waiting since March of 2016, when Tesla began taking orders with a $1,000 refundable deposit.The company also may have to deal with some safety issues. Investigators from two federal agencies are looking into five crashes of its vehicles, some involving the semi-autonomous Autopilot system or post-crash battery fires that have been difficult to extinguish.But regardless of those issues, Musk was in a celebratory mood Sunday.”I think we just became a real car company,” he wrote. © 2018 The Associated Press. All rights reserved. Citation: CEO Musk: Tesla hits weekly goal of making 5,000 Models 3s (2018, July 2) retrieved 18 July 2019 from https://phys.org/news/2018-07-ceo-musk-tesla-weekly-goal.html Tesla raising cash in push to get Model 3 to masses Explore further This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. Electric car maker Tesla Inc. has delivered on its CEO’s promise to build a lower-priced car at a rate of 5,000 per week by the end of June.
Amazon founder Jeff Bezos (R) and his wife, MacKenzie Bezos, have finalized their divorce Jeff and MacKenzie Bezos announced their separation in January and posted Twitter messages on Thursday revealing the divorce settlement.”Grateful to have finished the process of dissolving my marriage with Jeff with support from each other and everyone who reached out to us in kindness,” MacKenzie Bezos wrote.”Happy to be giving him all of my interests in the Washington Post and Blue Origin, and 75% of our Amazon stock plus voting control of my shares to support his continued contributions with the teams of these incredible companies,” she said.”Excited about my own plans. Grateful for the past as I look forward to what comes next.”‘Partner, ally, and mother’Jeff Bezos, in a Twitter message of his own, said his wife had been “an extraordinary partner, ally, and mother.” MacKenzie Bezos, ex-wife of Amazon founder Jeff Bezos, will be the third wealthiest woman in the world following her divorce Amazon founder Jeff Bezos and wife divorcing after 25 years A lawyer for the National Enquirer denied that the supermarket tabloid had tried to extort and blackmail the Amazon founder.Trump has been a frequent critic of the Post, which Bezos purchased in 2013, claiming that the newspaper is biased against him and calling it the “Amazon Washington Post.”Amazon shares closed down 0.1 percent at $1,818.86 on Thursday. © 2019 AFP The 10 richest people in the world, according to Forbes magazine’s 2019 rich list. “I’m grateful for her support and for her kindness in this process and am very much looking forward to our new relationship as friends and co-parents,” Bezos added.Bezos has largely kept his personal life private during his years steering Amazon.But it was thrust into the spotlight with the announcement in January that he and his wife were divorcing after 25 years of marriage and the revelation by the National Enquirer that he had been having an affair with a former news anchor, Lauren Sanchez.When the National Enquirer, controlled by President Donald Trump’s ally David Pecker, threatened to release lurid, intimate pictures of Bezos and Sanchez, Bezos fought back by releasing the details of his exchanges publicly.”Rather than capitulate to extortion and blackmail, I’ve decided to publish exactly what they sent me, despite the personal cost and embarrassment they threaten,” Bezos wrote in a blog post. Amazon founder Jeff Bezos will remain the world’s richest man after his divorce settlement Citation: Amazon’s Bezos, wife reach biggest divorce deal in history (Update) (2019, April 4) retrieved 17 July 2019 from https://phys.org/news/2019-04-bezos-ex-wife-surrender-couple-amazon.html MacKenzie Bezos said she would give all of her stake in The Washington Post and the space exploration firm Blue Origin to her husband—the world’s richest man—as well as voting control of her remaining Amazon stock.Jeff Bezos, 55, and MacKenzie, 48, a novelist, married in 1993 and have four children. Jeff Bezos founded Amazon in their Seattle garage in 1994 and turned it into a colossus that dominates online retail.In a filing with the US Securities and Exchange Commission, Amazon, which has a market capitalization of some $890 billion, said MacKenzie Bezos will control four percent of the company’s outstanding common stock.At Amazon’s current share price that would be worth some $35.6 billion.According to Forbes magazine, the divorce settlement makes MacKenzie Bezos the third wealthiest woman in the world after L’Oreal heiress Francoise Bettencourt Meyers and Walmart’s Alice Walton.Jeff Bezos, who now owns 12 percent of Amazon, remains the world’s richest man and the largest shareholder in the company with an estimated fortune of $110 billion, Forbes said, ahead of Microsoft co-founder Bill Gates and Berkshire Hathaway chairman Warren Buffett. Explore further “She is resourceful and brilliant and loving, and as our futures unroll, I know I’ll always be learning from her,” he said. Amazon founder Jeff Bezos and his wife, MacKenzie, finalized the biggest divorce settlement in history on Thursday, leaving him with 75 percent of their stock in the tech giant and giving her nearly $36 billion in shares. This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.