There are a thousand marvelous stories in 40 years of Sonic history; stories of achievement, delirium, and glory; stories of frustration, betrayal, and despair. But few stories match the one of Gus Williams and The Holdout.
It almost seems impossible in retrospect. An all-star guard, a legitimate superstar, an NBA champion, holding out for all of preseason, then all fall, through Christmas and New Years Day, past Valentine's Day, Ash Wednesday, Good Friday, Passover … through every marker of time you could imagine. Gus Williams - crucial aspect of Seattle's basketball soul - gone.
The acrimonious story of Williams' fight with owner Sam Schulman has been told many times (one of my favorite bits: Williams supposedly earned six figures during his holdout year due to pay he was still receiving from the Golden State Warriors and endorsements from Nike and Mello Yello. Yes, Mello Yello). Essentially, Williams, backed by agent Howard Slusher (playing the role Scott Boras, I suppose) wanted the security of a five-year deal, and he wanted $700,000 a year on top of that. Schulman balked, offered fewer years and fewer dollars, and then dared Williams to hold out.
Williams did, and eventually won, as the Sonics imploded without their superstar guard. Schulman, faced with the possibility of marketing a new cable television deal without his best player, caved in and gave Williams everything he wanted. (Among the perks: an annuity that would pay Williams $250,000 a year for the rest of his life, starting at age 38, an inheritance of $2 million to his heirs, a Rolls Royce, and some real estate holdings).
At the time, most of the discussion centered around how much it hurt the Sonics to be without Williams' services for the year, but I've never heard anyone talk about how Williams' holdout hurt his career, or at least how his career has been viewed in retrospect. Is it possible that by holding out, Gus Williams cost himself a shot at the Hall of Fame?
First, let's look at Williams' numbers as they stand. With 14,000 points, 4,600 assists, and 1,600 steals the Wizard is in clear Hall of Very Good territory. If you list all the guards in NBA history with 13,000 points, 4,000 assists and 1,500 steals, you come up with 15 players (see chart), and Williams is clearly at the bottom of that list.
(It's important to point out that steals were not counted by the NBA until the 1973-74 season, which obviously truncates the amount of history at which we can look; of course everyone with more than 30 points or a year spent in Boston prior to 1974 is already in the Hall of Fame, so that point is mostly moot.)
Now, it's not a list of lousy players, by any means. But if you sort the players by their career win shares, there is a clear demarcation between those at the top (Jordan, Stockton, Miller, Payton, Magic, Bryant) and those at the bottom (Derek Harper, Rod Strickland, Terry Porter). Not to mention that even with that demarcation Williams is almost in a further subbasement with 68 WS, 12 below Isiah Thomas and 18 below Strickland.
Clearly, as it stands, Gus Williams is not a hall of famer. While his win shares are reasonably close to Thomas', he had half as many assists and 4,000 fewer points (not to mention the lack of two rings), indicating he's obviously not in the same ballpark as Zeke.
But what if The Wizard had played in 1980-81? What then?
Fortunately, Gus' career stats are remarkably consistent, especially for that brief period, making it somewhat easy to create a hypothetical season. It's important to note that the Sonics were without Dennis Johnson that season as well, indicating that Williams' assist totals would have increased compared to the previous season when DJ (and John Johnson, for that matter) were handling the passing duties.
2011年4月28日星期四
2011年4月26日星期二
Kobe Bryant misguided for refusing diagnostic tests
Lakers guard Kobe Bryant kept shaking his head.
He had just spent the past minute trying to walk off a sprained left ankle that he turned while guarding New Orleans guard Willie Green. But with Bryant initially on the ground wincing in pain and showing continuous signs of discomfort afterwards, Lakers Coach Phil Jackson sent in Shannon Brown to replace Bryant in the final minute of Sunday's Game 4 loss to New Orleans. Bryant initially refused to come out, indicating in some variation that he felt fine.
While Green shot his pair of free throws, Lakers trainer Gary Vitti attended to Bryant on the sideline, but he continued standing up. Finally, an agitated Jackson could be seen on the telecast telling Bryant to "sit down." A timeout helped alleviate the pain enough in Bryant's ankle to play him for the rest of the game, with exception to Brown playing in one defensive sequence. But that appeared to be just the beginning of Bryant stubbornly doing things on his own accord.
Despite the Lakers' insistence that he get an MRI and X-rays for precautionary reasons on Monday, the team has said Bryant refused taking such tests. He didn't talk to the media after Monday's practice to explain why, but Jackson's sarcasm and clear agitation suggested he wasn't budging on the issue. "We're trying to convince him it might be a good idea to do that," Jackson said.
It's a shame because Bryant knows his body really well and can play through most pain, a reason why Jackson and the team's medical training staff defers to him when it comes to determining his playing status. It's unfathomable he can't extend the same courtesy to the staff for willing to have precautionary tests. The rationale that perhaps that would force Bryant to sit out Tuesday when the Lakers host Game 5 against New Orleans simply doesn't fly.
"It doesn't matter," Jakcson said of whether Bryant may be afraid that the test results would indicate his ankle sprain is more seriously hurt than he believes it might be. "He's going to play anyway. That's his answer."
This isn't even a debate on whether he should sit or should he play. Given the stakes of a 2-2 series, Bryant's clearly doing everything possible to make sure he's in the best shape to walk onto Staples Center court Tuesday night. After using crutches to leave New Orleans Arena and onto the team bus, Bryant spent the four-hour flight receiving various treatment, including icing, electronic stimulation and massage therapy. As Bryant told reporters after Game 4, "It's going to take a lot to stop me to play. We'll make sure we stay on top of it."
Part of staying on top of it should involve taking some test for pretty obvious reasons. The Lakers' medical staff will have a better idea of the severity of it and how to treat it, and Bryant, in turn, will know as well. This is more of a trust issue. For all the round the clock treatment and rehabilitation, Vitti, physical therapist Judy Seto, massage therapist Marko Yrjovuori and athletic performance coordinator Alex McKechnie provide for Bryant, the least he could do is return the favor. For someone who's fixated on knowing every single detail surrounding his body, Bryant's refusal to take the diagnostic tests only makes it harder for the Lakers' medical staff to determine exactly what treatment he needs to keep his ankle healthy throughout the postseason.
It's possible Bryant may decide to have one privately without the team disclosing any information. But there's no indication that has happened. As much as Bryant clearly doesn't want anything to get in the way of him playing to pursue a sixth ring, his stubbornness is making it harder for both himself and his teammates.
Said Jackson about Bryant: "He won't let them deal with it."
He had just spent the past minute trying to walk off a sprained left ankle that he turned while guarding New Orleans guard Willie Green. But with Bryant initially on the ground wincing in pain and showing continuous signs of discomfort afterwards, Lakers Coach Phil Jackson sent in Shannon Brown to replace Bryant in the final minute of Sunday's Game 4 loss to New Orleans. Bryant initially refused to come out, indicating in some variation that he felt fine.
While Green shot his pair of free throws, Lakers trainer Gary Vitti attended to Bryant on the sideline, but he continued standing up. Finally, an agitated Jackson could be seen on the telecast telling Bryant to "sit down." A timeout helped alleviate the pain enough in Bryant's ankle to play him for the rest of the game, with exception to Brown playing in one defensive sequence. But that appeared to be just the beginning of Bryant stubbornly doing things on his own accord.
Despite the Lakers' insistence that he get an MRI and X-rays for precautionary reasons on Monday, the team has said Bryant refused taking such tests. He didn't talk to the media after Monday's practice to explain why, but Jackson's sarcasm and clear agitation suggested he wasn't budging on the issue. "We're trying to convince him it might be a good idea to do that," Jackson said.
It's a shame because Bryant knows his body really well and can play through most pain, a reason why Jackson and the team's medical training staff defers to him when it comes to determining his playing status. It's unfathomable he can't extend the same courtesy to the staff for willing to have precautionary tests. The rationale that perhaps that would force Bryant to sit out Tuesday when the Lakers host Game 5 against New Orleans simply doesn't fly.
"It doesn't matter," Jakcson said of whether Bryant may be afraid that the test results would indicate his ankle sprain is more seriously hurt than he believes it might be. "He's going to play anyway. That's his answer."
This isn't even a debate on whether he should sit or should he play. Given the stakes of a 2-2 series, Bryant's clearly doing everything possible to make sure he's in the best shape to walk onto Staples Center court Tuesday night. After using crutches to leave New Orleans Arena and onto the team bus, Bryant spent the four-hour flight receiving various treatment, including icing, electronic stimulation and massage therapy. As Bryant told reporters after Game 4, "It's going to take a lot to stop me to play. We'll make sure we stay on top of it."
Part of staying on top of it should involve taking some test for pretty obvious reasons. The Lakers' medical staff will have a better idea of the severity of it and how to treat it, and Bryant, in turn, will know as well. This is more of a trust issue. For all the round the clock treatment and rehabilitation, Vitti, physical therapist Judy Seto, massage therapist Marko Yrjovuori and athletic performance coordinator Alex McKechnie provide for Bryant, the least he could do is return the favor. For someone who's fixated on knowing every single detail surrounding his body, Bryant's refusal to take the diagnostic tests only makes it harder for the Lakers' medical staff to determine exactly what treatment he needs to keep his ankle healthy throughout the postseason.
It's possible Bryant may decide to have one privately without the team disclosing any information. But there's no indication that has happened. As much as Bryant clearly doesn't want anything to get in the way of him playing to pursue a sixth ring, his stubbornness is making it harder for both himself and his teammates.
Said Jackson about Bryant: "He won't let them deal with it."
2011年4月24日星期日
Each FBS College Football Team's Greatest Quarterback Ever
Quarterback. It's the most glamorous position in all of sports.
College football. One of the most storied and glorified sports in the world.
Combine the two, and we've seen some pretty spectacular quarterbacks on the college level. They've come in all shapes, sizes, heights, weights and talent levels, but the great ones all separated themselves by winning and performing at a high level.
Some schools have had better overall QB play than others, and while some of the all-time greats may not be on this list due to another all-timer being from the same program, we've decided to name the greatest QB from every FBS program.
Some picks may shock you
College football. One of the most storied and glorified sports in the world.
Combine the two, and we've seen some pretty spectacular quarterbacks on the college level. They've come in all shapes, sizes, heights, weights and talent levels, but the great ones all separated themselves by winning and performing at a high level.
Some schools have had better overall QB play than others, and while some of the all-time greats may not be on this list due to another all-timer being from the same program, we've decided to name the greatest QB from every FBS program.
Some picks may shock you
2011年4月21日星期四
Nike Zoom Crisp Sneaker
Let the summer shoe-drooling commence. The Nike Zoom is presented with a Maharam collaboration to bring you an new, lightweight shoe body that’s an easy pick for linen and cotton. It’s really hard to match 100% linen pants with any sneaker-type shoe, but with these, I can see it. Maharam’s a textile company in New York, so they brought the textured upper to the Nike body in linen, horsehair, and leather touches. Gorgeous, heat-friendly, and superbly stitched for the serious buyer.
You don’t have to live in Miami or Malibu to find the most use out of these. The naturally-colored upper is an easy combination with well-worn denim (I’m picturing Levi’s that have bleached themselves out at the knee and thigh), boating-type longer shorts, paper-thin tees, or a vintage maroon sweater. The uppers don’t strike me as high-maintenance, instead appearing casual, packable for travel, creative, and comfortable.
Nike will be releasing the Zoom Tennis Classics through a select set of stockists, and they are tempting. What did not tempt me was the Dunk High Premium collab with Maharam, which you can see here. This look fails where the Nike Zoom has excelled, looking fussy, unusual, and slightly silly. [via acquire]
Building a Business on Content Sales
The appeal of paid content is growing. Last month, The New York Times embarked on one of the largest tests yet around paid content, introducing a subscription plan for the heaviest users of its site. The plan offers three digital subscription options across a variety of devices. All Digital Access-Web site, tablet, smartphone-costs $35 per month.
Meanwhile, printer R.R. Donnelley acquired Journalism Online and its Press+ service, which enables publishers to offer a variety of paid and metered content plans as well as mobile/tablet access, enhanced site functionality, and out-of-market-access.
However, paid content is far from a slam-dunk. The Atlantic has backed away from the launch of The Atlantic Premium, which would have offered a daily bundle of its online content for a monthly fee. "We're taking a step back on our entire mobile/digital strategy and revisiting everything right now," says president Justin Smith. "We're looking at the data from our apps so far and it begs the strategic question of whether we would consider any kind of metered model on the Web site. We're not ready to make that decision at this point. Our current high-CPM, ad-supported model is working."
The New York Times recently announced a 26-week deep discount to try to get readers behind the new paywall (The Times says that more than 100,000 users are paying so far).
Manageable Solutions
Smaller publishers are getting onboard as well. U.K.-based luxury title Lusso Magazine has introduced micropayment options for online premium content at its Web site that offer access to full-length features across up to five different devices. The payments will be processed through PayPal. While purchases are only made on the Web site (which receives about 40,000 unique visitors per month), a user can re-enter a supplied voucher code to read it on another device.
While b-to-b publishing historically has been built around the premise of free content, it also has the best chance for converting to a paid model.
And not everything requires paywalls or metered programs. Last fall, UBM Electronics' EE Times launched EE Times Confidential, a premium, subscription-based intelligence report. The report is a downloadable PDF that is currently published monthly and will increase to twice per month later in 2011 (a Web site offering current issues and archives will also be launched).
"When ad money is dwindling and whatever we do is defined by how much money we can bring in, [editors] are in a difficult situation to justify our existence," says EE Times content chief Junko Yoshida. "We've grown up in a world where the information is given away for free. We decided we wanted to change the game."
Pricing Content
EE Times Confidential offers a look at new business models and tech trends; an overview of the marketplace; tracking of venture capital startups and market intelligence. "In this day and age, anyone can find the information if they really put their mind to it, but they don't have time," says Yoshida. "We dig deeper and if we're doing the extra legwork, we need to get paid for it."
While a PDF may seem hopelessly old-fashioned in the app age, Yoshida says that simple is often best. "Many of our clients said they wanted a PDF that they could just print out, grab and read it on the plane."
EE Times Confidential has close to 100 customers, with a price point of $497 per subscription.
UBM Electronics conducted a market survey with EE Times readers about price, content, delivery preference and frequency, with suggestions ranging from $99 to $2,500. "We didn't want to give it up cheap," says Yoshida. "This is not a rewrite, this is a brand new product with fresh content. The information is what you say it's worth-and around $500 is something people will go for."
The publisher is debating different paid content models going forward. While subscriptions are currently sold individually, groups subscriptions are a possibility as are site licenses, according to Yoshida.
"I'd like to pursue an underwriting model, so if you're working for company that has 50 decision-makers, you will get EE Times Confidential as a gift," she says. "It's a direct one-to-one way of communicating with customers."
Meanwhile, printer R.R. Donnelley acquired Journalism Online and its Press+ service, which enables publishers to offer a variety of paid and metered content plans as well as mobile/tablet access, enhanced site functionality, and out-of-market-access.
However, paid content is far from a slam-dunk. The Atlantic has backed away from the launch of The Atlantic Premium, which would have offered a daily bundle of its online content for a monthly fee. "We're taking a step back on our entire mobile/digital strategy and revisiting everything right now," says president Justin Smith. "We're looking at the data from our apps so far and it begs the strategic question of whether we would consider any kind of metered model on the Web site. We're not ready to make that decision at this point. Our current high-CPM, ad-supported model is working."
The New York Times recently announced a 26-week deep discount to try to get readers behind the new paywall (The Times says that more than 100,000 users are paying so far).
Manageable Solutions
Smaller publishers are getting onboard as well. U.K.-based luxury title Lusso Magazine has introduced micropayment options for online premium content at its Web site that offer access to full-length features across up to five different devices. The payments will be processed through PayPal. While purchases are only made on the Web site (which receives about 40,000 unique visitors per month), a user can re-enter a supplied voucher code to read it on another device.
While b-to-b publishing historically has been built around the premise of free content, it also has the best chance for converting to a paid model.
And not everything requires paywalls or metered programs. Last fall, UBM Electronics' EE Times launched EE Times Confidential, a premium, subscription-based intelligence report. The report is a downloadable PDF that is currently published monthly and will increase to twice per month later in 2011 (a Web site offering current issues and archives will also be launched).
"When ad money is dwindling and whatever we do is defined by how much money we can bring in, [editors] are in a difficult situation to justify our existence," says EE Times content chief Junko Yoshida. "We've grown up in a world where the information is given away for free. We decided we wanted to change the game."
Pricing Content
EE Times Confidential offers a look at new business models and tech trends; an overview of the marketplace; tracking of venture capital startups and market intelligence. "In this day and age, anyone can find the information if they really put their mind to it, but they don't have time," says Yoshida. "We dig deeper and if we're doing the extra legwork, we need to get paid for it."
While a PDF may seem hopelessly old-fashioned in the app age, Yoshida says that simple is often best. "Many of our clients said they wanted a PDF that they could just print out, grab and read it on the plane."
EE Times Confidential has close to 100 customers, with a price point of $497 per subscription.
UBM Electronics conducted a market survey with EE Times readers about price, content, delivery preference and frequency, with suggestions ranging from $99 to $2,500. "We didn't want to give it up cheap," says Yoshida. "This is not a rewrite, this is a brand new product with fresh content. The information is what you say it's worth-and around $500 is something people will go for."
The publisher is debating different paid content models going forward. While subscriptions are currently sold individually, groups subscriptions are a possibility as are site licenses, according to Yoshida.
"I'd like to pursue an underwriting model, so if you're working for company that has 50 decision-makers, you will get EE Times Confidential as a gift," she says. "It's a direct one-to-one way of communicating with customers."
2011年4月20日星期三
Ticket demand for Lakers-Hornets series remain high
The Lakers might not have acted like it in their 109-100 Game 1 loss Sunday to the New Orleans Hornets. But at least the fans got up for it.
It is a shame, of course, that the Lakers' poor effort prompted the sellout crowd that paid on average $185 per ticket to Stubhub.com to leave the game early so they could at least enjoy the rest of a sunny afternoon at the beach. But Lakers fans are willing to come back for more, spending an average of $207 a ticket while courtside seats are averaging $5,000 for Game 2 tonight at Staples Center. That only leads to more questions on why the courtside seat next to Tim Lieweke's was empty, but that's a topic for another day.
The revelation from FanSnap, a ticket metasearch engine, that the Lakers-Hornets series still draws an average of $188 a ticket reveals that you can't dampen the Lakers' popularity with a far-from-intriguing matchup. Only the Knicks-Celtics series has cost more, at about $270 a ticket, but that speaks more to the Knicks' resurgence and Boston's rich history. More exciting series, such as Nuggets-Thunder ($142) and Blazers-Mavericks ($135), still fall short compared to the Lakers.
It is a shame, of course, that the Lakers' poor effort prompted the sellout crowd that paid on average $185 per ticket to Stubhub.com to leave the game early so they could at least enjoy the rest of a sunny afternoon at the beach. But Lakers fans are willing to come back for more, spending an average of $207 a ticket while courtside seats are averaging $5,000 for Game 2 tonight at Staples Center. That only leads to more questions on why the courtside seat next to Tim Lieweke's was empty, but that's a topic for another day.
The revelation from FanSnap, a ticket metasearch engine, that the Lakers-Hornets series still draws an average of $188 a ticket reveals that you can't dampen the Lakers' popularity with a far-from-intriguing matchup. Only the Knicks-Celtics series has cost more, at about $270 a ticket, but that speaks more to the Knicks' resurgence and Boston's rich history. More exciting series, such as Nuggets-Thunder ($142) and Blazers-Mavericks ($135), still fall short compared to the Lakers.
2011年4月19日星期二
Opening the mailbag: Pac-12 & Fiesta Bowl
Glen from Sacramento writes: What do you think the likelihood of the Fiesta Bowl losing BCS status to the Cotton Bowl is? That is, the New Cowboys Stadium version.Could this benefit the Pac-12, if the Fiesta were demoted, yet still a high profile (New Years?) bowl? Us Pac-10'rs have long been annoyed by the lack of high profile western region bowls available for our conference. We're stuck watching numerous SEC/Big10 matchups in Florida on New Years day, while a 2nd place, maybe 1 or 2 loss, Pac-10 team often plays in the Holiday Bowl (or now Alamo Bowl) on Dec 30, against a 4th or 5th place Big-12 team.With 12 teams now, can we start pulling some weight with respect to bowl arrangements?
Ted Miller: It's certainly possible that the Fiesta Bowl will get the boot from the BCS. But you know what the Powers That Be in college football want? The story to go away. If you took a magnifying glass to other BCS bowl games -- heck, most bowl games -- you'd almost certainly find similar levels of excess, though maybe not on as grand a scale. Know why there are so many bowls, and why so many fight to maintain the present bowl system? We don't even need a word to answer: $.
Understand: Longtime Fiesta Bowl president and CEO John Junker got away -- allegedly -- with such stunningly excesses because he'd built a stunningly successful enterprise.
If the Fiesta Bowl gets banished from the BCS, the Pac-12 would make sense as a suitor, a topic Bud Withers of the Seattle Times visited on Tuesday. And you really can't count out Larry Scott, the conference's aggressive commissioner, from making any move.
But it's not a slam dunk. For one, the conference's bowl contracts are signed through 2013. So, the Pac-12 can't just swoop in and scoop up the Fiesta Bowl, at least not immediately, or without some complicated legal wrangling.
Further, what would the matchup be? Could the Fiesta Bowl, which presently is aligned with the Big 12 champion, and Pac-12 put together a deal that lures the Big Ten or SEC away from one of their Florida Bowls -- the Capital One Bowl or the Outback Bowl? Or would the game automatically go after the No. 2 team from the Big 12, which presently plays in the Cotton Bowl, if the Cotton Bowl becomes a BCS bowl and gets the Big 12 champion instead of the Fiesta Bowl?
And would the Fiesta Bowl even want the Pac-12? If it could match the No. 3 team from the Big Ten or SEC versus the No. 2 team from the Big 12, it might prefer that matchup. Why? Those conferences offer more big stadium teams with fans who travel in large numbers and fill up hotel rooms and stadiums -- particularly ones trying to escape cold weather.
The present situation is complicated and fluid. My guess is the Fiesta Bowl, after cleaning house, won't get dumped by the BCS. But you never know.
And I'd guess Scott at least has a raised eyebrow over potential opportunities here.
Ted Miller: It's certainly possible that the Fiesta Bowl will get the boot from the BCS. But you know what the Powers That Be in college football want? The story to go away. If you took a magnifying glass to other BCS bowl games -- heck, most bowl games -- you'd almost certainly find similar levels of excess, though maybe not on as grand a scale. Know why there are so many bowls, and why so many fight to maintain the present bowl system? We don't even need a word to answer: $.
Understand: Longtime Fiesta Bowl president and CEO John Junker got away -- allegedly -- with such stunningly excesses because he'd built a stunningly successful enterprise.
If the Fiesta Bowl gets banished from the BCS, the Pac-12 would make sense as a suitor, a topic Bud Withers of the Seattle Times visited on Tuesday. And you really can't count out Larry Scott, the conference's aggressive commissioner, from making any move.
But it's not a slam dunk. For one, the conference's bowl contracts are signed through 2013. So, the Pac-12 can't just swoop in and scoop up the Fiesta Bowl, at least not immediately, or without some complicated legal wrangling.
Further, what would the matchup be? Could the Fiesta Bowl, which presently is aligned with the Big 12 champion, and Pac-12 put together a deal that lures the Big Ten or SEC away from one of their Florida Bowls -- the Capital One Bowl or the Outback Bowl? Or would the game automatically go after the No. 2 team from the Big 12, which presently plays in the Cotton Bowl, if the Cotton Bowl becomes a BCS bowl and gets the Big 12 champion instead of the Fiesta Bowl?
And would the Fiesta Bowl even want the Pac-12? If it could match the No. 3 team from the Big Ten or SEC versus the No. 2 team from the Big 12, it might prefer that matchup. Why? Those conferences offer more big stadium teams with fans who travel in large numbers and fill up hotel rooms and stadiums -- particularly ones trying to escape cold weather.
The present situation is complicated and fluid. My guess is the Fiesta Bowl, after cleaning house, won't get dumped by the BCS. But you never know.
And I'd guess Scott at least has a raised eyebrow over potential opportunities here.
2011年4月18日星期一
Air Jordan III True Blue
The Air Jordan III is one of the most iconic of all of the storied Jordan signature line. Introduced for the first time way back in 1987, Michael won the dunk contest in these while Tinker Hatfield introduced the world to elephant print. The now ubiquitous pattern was just an inkling in Hatfield’s head when he transposed it to the sneaker, and the rest as you may well know is history. The first Jordan with a visible air unit is also one of the most simple and durable Jordan’s ever created. While aesthetes will argue their favorite colorups until the cows come home, there is no denying the Air Jordan III True Blue. With a red Jumpman at the tongue, blue accents at the mid-sole and a white base these shoes scream Americana, and rightly so. If you’ve missed out on these coveted kicks in the past, fret not, Independence Day of this year marks their latest incarnation. There is no word as of yet on the price-point or slight variations from the 2009 model, but one thing that is for certain is these will be highly sought after. So before you buy your dogs and burgers, set yourself up for a perfect BBQ with a crisp pair of True Blue IIIs, the perfect accouterment to any barbequed entree.
2011年4月17日星期日
Duke duo draws crowd at ACC/Crossfire All-Star game
Doors to Reynolds' gym swung open a couple of minutes before 5 p.m. Saturday.
In a matter of seconds, Kyle Singler and Nolan Smith were swarmed by autograph seekers.
The two Duke basketball stars signed for close to an hour and then had plenty of dexterity left to entertain a capacity crowd at the annual ACC All-Star/Crossfire game.
"It means a lot to come to small cities like this that we don't get to visit all the time," Smith said.
"Not everyone from Asheville can get to Durham to see us play in person. We just want to go out there, play hard and have fun, just like it was an ACC game."
Smith scored Saturday's first basket off a steal and the ensuing layup by the reigning ACC Player of the Year. But Crossfire eventually won the game, 116-113.
Singler and Smith were named the Blue Devils' co-most valuable players Friday during Duke's postseason awards banquet.
"(Friday) was definitely an emotional night," Smith said.
"We were saying farewell, so there was some sadness. But there was also a lot of joy because this team accomplished so much."
Even with Buncombe County Schools on spring break, Reynolds athletic director Larry Brow said there had been a buzz all week with the anticipated arrival of the ACC All-Stars, particularly Singler and Smith.
"People have been texting me and calling me all week asking about tickets," Brow said.
"The ACC guys don't come up this way much, so when they do, it's a big deal to a lot of people."
College basketball fans also got one last chance to marvel at the freakish athleticism of UNC Asheville dunk machine John Williams.
Williams suited up for Crossfire on Saturday and an alley-oop slam at the 4:15 mark of the first half drew loud cheers. The forward said he has been traveling to Greenville, S.C., three times a week for workouts in preparation of upcoming camps for NBA and overseas teams.
Williams was instrumental in leading the Bulldogs to the NCAA tournament for the second time last month.
"There were a lot of moments that I'll never forget," Williams said.
"I haven't really had time for it all to set in. With all the schoolwork I've had to make up and the workouts, I haven't really had to think about it all. Maybe after it's all done, I'll get a chance."
And was Williams in any way intimidated about going up against any of the ACC All-Stars?
"The way we're taught at UNCA is to not be afraid of anyone," Williams said.
In a matter of seconds, Kyle Singler and Nolan Smith were swarmed by autograph seekers.
The two Duke basketball stars signed for close to an hour and then had plenty of dexterity left to entertain a capacity crowd at the annual ACC All-Star/Crossfire game.
"It means a lot to come to small cities like this that we don't get to visit all the time," Smith said.
"Not everyone from Asheville can get to Durham to see us play in person. We just want to go out there, play hard and have fun, just like it was an ACC game."
Smith scored Saturday's first basket off a steal and the ensuing layup by the reigning ACC Player of the Year. But Crossfire eventually won the game, 116-113.
Singler and Smith were named the Blue Devils' co-most valuable players Friday during Duke's postseason awards banquet.
"(Friday) was definitely an emotional night," Smith said.
"We were saying farewell, so there was some sadness. But there was also a lot of joy because this team accomplished so much."
Even with Buncombe County Schools on spring break, Reynolds athletic director Larry Brow said there had been a buzz all week with the anticipated arrival of the ACC All-Stars, particularly Singler and Smith.
"People have been texting me and calling me all week asking about tickets," Brow said.
"The ACC guys don't come up this way much, so when they do, it's a big deal to a lot of people."
College basketball fans also got one last chance to marvel at the freakish athleticism of UNC Asheville dunk machine John Williams.
Williams suited up for Crossfire on Saturday and an alley-oop slam at the 4:15 mark of the first half drew loud cheers. The forward said he has been traveling to Greenville, S.C., three times a week for workouts in preparation of upcoming camps for NBA and overseas teams.
Williams was instrumental in leading the Bulldogs to the NCAA tournament for the second time last month.
"There were a lot of moments that I'll never forget," Williams said.
"I haven't really had time for it all to set in. With all the schoolwork I've had to make up and the workouts, I haven't really had to think about it all. Maybe after it's all done, I'll get a chance."
And was Williams in any way intimidated about going up against any of the ACC All-Stars?
"The way we're taught at UNCA is to not be afraid of anyone," Williams said.
2011年4月14日星期四
A Great Holiday Sale Starts At Publix Today
Today marks the beginning of a new sale at Publix. This is a big week and makes up for previous ones that have been slow. There are several Easter meats and treats to help you save money on your holiday. If you are looking for the great deals this week at Kroger, Target or any of the smaller stores in Hickory Flat, go here.
If you go to Publix on Thursday, be sure to get your Mystery Item coupon from the AJC. You will get a three pack of paper towels for a penny if you spend $10. If you forget your coupon, ask your cashier if they will still give it to you. Sometimes they will.
YoPlait YoPlus in the four count package is buy one, get one free at $2. Use this coupon and get it for free.
Smart Balance Buttery Spread is buy one, get one free at $2.99. There was a coupon in the newspaper on March 6 and there is a printable one here.
Breakstone's Sour Cream is buy one, get one free at $2.25. there was a coupon in the April 10 newspaper for $1 off 2 cartons. Here is a printable coupon for you to use as well.
Breyer's Ice Cream is buy one, get one free at $5.99. Use the Target printable coupon to get an additional $1.50 off of two cartons.
Cool Whip Whipped Topping is buy one, get one free at $1.67. Use the Target printable coupon and get $1 off two.
Simply Potatoes Diner's Choice Mashed Potatoes are buy one, get one free at $3.99.
Fresh Express Salad Blends are buy one, get one free at $3.99. There was a coupon in the April 3 newspaper for additional savings.
Sorrento Mozzarella Cheese is buy one, get one free at $4.69. There were coupons in your newspaper on February 6 and April 10.
Rondele Cheese Spread is buy one, get one free at $4.69. Look at the packages for a coupon right on top for an additional $1 each one.
Publix Deli Tea is buy one, get one free at $2.59.
Chobani Greek yogurt is 10 for $10. Use this coupon ans get it for 40 cents each.
Publix Butter is on sale two for $5.
Sorrento Ricotta Cheese is on sale two for $5. there were coupons in the newspaper on February 6 as well as March 10.
Birds Eye Frozen Vegetables are 50 percent off. Use the coupons from your March 20 newspaper insert to save even more on these vegetables.
Marie Callender's Pies are two for $10. There is a $1 off coupon in the Publix booklet called Slam Dunk Savings.
Domino Sugar in the 5 pound bag is $2.99. There is a coupon in the March 27 newspaper as well as one in the April copy of Family Circle magazine.
White Lily Flour in the 5 pound bag is $1.99.
Pam Cooking Spray is buy one, get one free at $3.19. There is a $1 off coupon in the Publix booklet called Slam Dunk Savings as well as a newspaper coupon in the April 3 AJC.
Dole Pineapple Juice is buy one, get one free at $1.59. Use the coupon in the April 10 newspaper and pay just 59 cents for two.
Duncan Hines Brownie Mix is buy one, get one free at $2.69. Use the coupon from April 10 newspaper and pay 35 cents each.
Duncan Hines Cake Mix is buy one, get one free at $1.83. There is a coupon here for $1.25 off of 3.
Post Cereal Honey Bunches of Oats is buy one, get one free at $3.05. There is a $1 off coupon in February 27 AJC.
Nabisco Wheat Thins, Triscuit, or Crackerfuls are buy one, get one free at $2.99. There is a coupon on the Triscuit Facebook page as well as a Target printable coupon to save even more.
Nabisco Fig Newtons are buy one, get one free at $3.89. There is a Targetprintable coupon that will save you an extra $1 off 2 boxes.
Lay's Potato Chips are buy one, get one free at $3.99. There is a $1 off coupon in the Publix booklet just inside the Publix door called Spring Into Savings.
Mentos Gum is buy one, get one free at $3.29. There was a $1 off coupon in the February 27 newspaper.
If you go to Publix on Thursday, be sure to get your Mystery Item coupon from the AJC. You will get a three pack of paper towels for a penny if you spend $10. If you forget your coupon, ask your cashier if they will still give it to you. Sometimes they will.
YoPlait YoPlus in the four count package is buy one, get one free at $2. Use this coupon and get it for free.
Smart Balance Buttery Spread is buy one, get one free at $2.99. There was a coupon in the newspaper on March 6 and there is a printable one here.
Breakstone's Sour Cream is buy one, get one free at $2.25. there was a coupon in the April 10 newspaper for $1 off 2 cartons. Here is a printable coupon for you to use as well.
Breyer's Ice Cream is buy one, get one free at $5.99. Use the Target printable coupon to get an additional $1.50 off of two cartons.
Cool Whip Whipped Topping is buy one, get one free at $1.67. Use the Target printable coupon and get $1 off two.
Simply Potatoes Diner's Choice Mashed Potatoes are buy one, get one free at $3.99.
Fresh Express Salad Blends are buy one, get one free at $3.99. There was a coupon in the April 3 newspaper for additional savings.
Sorrento Mozzarella Cheese is buy one, get one free at $4.69. There were coupons in your newspaper on February 6 and April 10.
Rondele Cheese Spread is buy one, get one free at $4.69. Look at the packages for a coupon right on top for an additional $1 each one.
Publix Deli Tea is buy one, get one free at $2.59.
Chobani Greek yogurt is 10 for $10. Use this coupon ans get it for 40 cents each.
Publix Butter is on sale two for $5.
Sorrento Ricotta Cheese is on sale two for $5. there were coupons in the newspaper on February 6 as well as March 10.
Birds Eye Frozen Vegetables are 50 percent off. Use the coupons from your March 20 newspaper insert to save even more on these vegetables.
Marie Callender's Pies are two for $10. There is a $1 off coupon in the Publix booklet called Slam Dunk Savings.
Domino Sugar in the 5 pound bag is $2.99. There is a coupon in the March 27 newspaper as well as one in the April copy of Family Circle magazine.
White Lily Flour in the 5 pound bag is $1.99.
Pam Cooking Spray is buy one, get one free at $3.19. There is a $1 off coupon in the Publix booklet called Slam Dunk Savings as well as a newspaper coupon in the April 3 AJC.
Dole Pineapple Juice is buy one, get one free at $1.59. Use the coupon in the April 10 newspaper and pay just 59 cents for two.
Duncan Hines Brownie Mix is buy one, get one free at $2.69. Use the coupon from April 10 newspaper and pay 35 cents each.
Duncan Hines Cake Mix is buy one, get one free at $1.83. There is a coupon here for $1.25 off of 3.
Post Cereal Honey Bunches of Oats is buy one, get one free at $3.05. There is a $1 off coupon in February 27 AJC.
Nabisco Wheat Thins, Triscuit, or Crackerfuls are buy one, get one free at $2.99. There is a coupon on the Triscuit Facebook page as well as a Target printable coupon to save even more.
Nabisco Fig Newtons are buy one, get one free at $3.89. There is a Targetprintable coupon that will save you an extra $1 off 2 boxes.
Lay's Potato Chips are buy one, get one free at $3.99. There is a $1 off coupon in the Publix booklet just inside the Publix door called Spring Into Savings.
Mentos Gum is buy one, get one free at $3.29. There was a $1 off coupon in the February 27 newspaper.
2011年4月13日星期三
Nasdaq bid for NYSE shakes up exchanges
A bid led by Nasdaq OMX Group Inc. to break up the planned marriage of the New York Stock Exchange and Deutsche Boerse shook up the stock exchange world Friday, potentially changing which major player will be left without a dance partner in the consolidation wave sweeping the industry.
The US$11.3-billion cashand-stock offer for NYSE Euronext by Nasdaq and IntercontinentalExchange Inc. represents a 19% premium to the friendly bid from Germany-based Deutsche Boerse AG.
The rival bid, rumoured for more than a month, may not be a sure bet, but it throws another wrinkle into the quickly changing stock exchanges landscape. It also advances the possibility of a domino effect that could disrupt other planned tie-ups.
The proposed combination of Toronto Stock Exchange owner TMX Group Inc. with the London Stock Exchange Group PLC has run into controversy, with politicians and banks split on whether it will benefit Canada. With Canada in the midst of a federal election, that deal is not a slam dunk either, said Thomas Caldwell, whose Torontobased firm, Caldwell Financial Ltd., owns shares in several exchanges, including the TMX and LSE.
In an interview Friday from Naples, Fla., Mr. Caldwell placed the odds of success of a Toronto-London exchange tieup at "marginally better than a 50-50 shot."
However, he doesn't expect the losing bidder for the NYSE to try to unlock the proposed TMX-LSE combination, even though Nasdaq has already looked at buying or merging with both the Toronto and London exchange groups.
"They wouldn't get into a competitive bid with London because, in their mind, it's [TMX] not a big enough prize," Mr. Caldwell said, adding that he doesn't think Deutsche Boerse "would bother coming to Canada if it failed [to win the NYSE]."
An LSE-TMX deal could be thwarted by Ottawa, which must assess the "net benefit" to the country, or by securities regulators that must approve a single shareholder owning more than 10% of the exchange group. That makes another foreign bid even less likely, Mr. Caldwell said.
Still, sources have told the Financial Post that Nasdaq pursued the TMX Group before the Canadian group entered the planned merger with LSE. However, TMX Group was focused at the time on a partnership involving the NYSE's technology-driven model called Next Generation, and when preliminary talks didn't lead to a deal, the Canadian group turned its attention to a deal with the London exchange group, these sources said.
Since the London-Toronto transaction was announced in early February, shares of TMX Group have traded below the implied offer price, reflecting the risk the all-share deal won't be completed. TMX shares on the Toronto Stock Exchange closed Friday at $38.08, up 26¢
Mr. Caldwell said he is mildly in favour of the proposed TMX-LSE combination.
As for who wins the coveted NYSE, there are benefits to both potential deals, he said.
A marriage of the NYSE and Nasdaq could be more palatable in parts of Europe where there would be less overlap. That deal would combine two exchanges ripe for cost savings of about US$740-million, but it would also create a group heavier in the low-margin business of cash equities than a New York-Deutsche Boerse combination, he said.
Then there are the details of the proposed purchase prices to consider.
"If this [Nasdaq bid] was an all-cash deal, it would be a slam dunk," Mr. Caldwell said.
But with the tabled combination of stock and cash, there is a possibility Deutsche Boerse will sweeten its bid despite some financial incentives to walk away from the deal, he said.
The US$11.3-billion cashand-stock offer for NYSE Euronext by Nasdaq and IntercontinentalExchange Inc. represents a 19% premium to the friendly bid from Germany-based Deutsche Boerse AG.
The rival bid, rumoured for more than a month, may not be a sure bet, but it throws another wrinkle into the quickly changing stock exchanges landscape. It also advances the possibility of a domino effect that could disrupt other planned tie-ups.
The proposed combination of Toronto Stock Exchange owner TMX Group Inc. with the London Stock Exchange Group PLC has run into controversy, with politicians and banks split on whether it will benefit Canada. With Canada in the midst of a federal election, that deal is not a slam dunk either, said Thomas Caldwell, whose Torontobased firm, Caldwell Financial Ltd., owns shares in several exchanges, including the TMX and LSE.
In an interview Friday from Naples, Fla., Mr. Caldwell placed the odds of success of a Toronto-London exchange tieup at "marginally better than a 50-50 shot."
However, he doesn't expect the losing bidder for the NYSE to try to unlock the proposed TMX-LSE combination, even though Nasdaq has already looked at buying or merging with both the Toronto and London exchange groups.
"They wouldn't get into a competitive bid with London because, in their mind, it's [TMX] not a big enough prize," Mr. Caldwell said, adding that he doesn't think Deutsche Boerse "would bother coming to Canada if it failed [to win the NYSE]."
An LSE-TMX deal could be thwarted by Ottawa, which must assess the "net benefit" to the country, or by securities regulators that must approve a single shareholder owning more than 10% of the exchange group. That makes another foreign bid even less likely, Mr. Caldwell said.
Still, sources have told the Financial Post that Nasdaq pursued the TMX Group before the Canadian group entered the planned merger with LSE. However, TMX Group was focused at the time on a partnership involving the NYSE's technology-driven model called Next Generation, and when preliminary talks didn't lead to a deal, the Canadian group turned its attention to a deal with the London exchange group, these sources said.
Since the London-Toronto transaction was announced in early February, shares of TMX Group have traded below the implied offer price, reflecting the risk the all-share deal won't be completed. TMX shares on the Toronto Stock Exchange closed Friday at $38.08, up 26¢
Mr. Caldwell said he is mildly in favour of the proposed TMX-LSE combination.
As for who wins the coveted NYSE, there are benefits to both potential deals, he said.
A marriage of the NYSE and Nasdaq could be more palatable in parts of Europe where there would be less overlap. That deal would combine two exchanges ripe for cost savings of about US$740-million, but it would also create a group heavier in the low-margin business of cash equities than a New York-Deutsche Boerse combination, he said.
Then there are the details of the proposed purchase prices to consider.
"If this [Nasdaq bid] was an all-cash deal, it would be a slam dunk," Mr. Caldwell said.
But with the tabled combination of stock and cash, there is a possibility Deutsche Boerse will sweeten its bid despite some financial incentives to walk away from the deal, he said.
2011年4月12日星期二
US Downtown investment debated
While that may be a bit of an overstatement, the apparent resurgence of America's downtowns earned an article in the Wall Street Journal last December. It is an interesting idea, and broad structural changes like the one described in the article do tend to grab headlines, but looking at occupancy trends for commercial real estate—and office in particular— the data have yet to tell this story convincingly.
On the surface, a number of arguments seem to support the thesis of a rebound for downtown markets; some are more compelling than others. One, for example, is that businesses prefer downtowns because they are closer to clients and suppliers, which makes it more efficient to operate downtown than in a suburb. Another is the take on rising energy costs, which posits that individuals prefer downtowns because it lowers commuting costs by employing a mix of transportation options that are not as readily available in the suburbs. Moreover, declines in the incidence of crime in major cities over the last 20 years have made downtowns safer and more desirable, not just for commuters but also for residents. And finally, downtowns are just cooler than the suburbs. After all, you just can't find that cool, hipster coffeehouse vibe in the suburbs; you really need to be downtown for something like that.
Personally, I don't buy a number of these arguments. Let's begin with lowering commuting costs. In order to lower commuter costs we need to start with the assumption that most markets have a well-developed public transit system. They don't. Outside of Boston, Chicago, New York, San Francisco and Washington, D.C. there are simply no well-developed public transit systems to measurably reduce commuting by car—and thereby the expenses of commuting into a downtown area for work.
Crime is the one area where I agree; over the past two decades, cities have become safer. No argument there. Still, inner-city schools remain underfunded, understaffed and on the margin dangerous enough that most families with the means either move to the suburbs or opt for pricey private schools. So with families prone to relocating to beyond the city limits, what are we left with? That's right: the 20- and 30-somethings that make those coffeehouses so darn hip. And guess what? In those very coffeehouses, many of them are coupling, settling down, and unwittingly—and metaphorically—packing their bags for the greener pastures of the suburbs.
I don't mean to be a downer, but that's life. So let's get to the core of this argument, which is why businesses and investors flock to downtown locations. It's a more compelling argument, but even so it's not necessarily a slam-dunk for downtown office assets, nor is it the death knell of suburban office as we know it.
The notion of downtowns is great for business; being there offers both prestige and efficiency, in many cases. Tenants who take up space in downtown submarkets often do so to be closer to partners, clients and important business services. They offer a central location so businesses can draw commuters from the city and close suburban locations—perhaps even further out if they are in one of the aforementioned transportation markets. But, as economists like to say, there is no free lunch.
On average, the price per square foot of office space downtown is about $10 more than that for the suburbs, according to our TW rent index; and before you ask, this does account for asset-quality differences between posh high-rise business-district towers and smaller business-park offices. That margin may not seem like much, but consider that the difference is applied to an average five-year lease on 10,000 square feet of space. That's a difference of about half a million dollars, not accounting for the future value or opportunity cost of a five-year period.
Surely, as is the case with individuals, each tenant has its own utility function and budget constraint that determines both its willingness and ability to pay for office space. That said, to assume that downtown locations can command increasingly higher rents based on efficiencies and a general desire to be near a city center is to ignore the price elasticity of demand for space. At some point, the relative price of downtown space becomes too high to attract tenants away from their suburban locations. Moreover, it also prices certain businesses out of the market. For example, most investment banks in New York don't consider rents at all; they simply build new headquarters or purchase existing space outright. Large corporations also may have more flexibility on pricing, but this is not the case with smaller companies with less extensive operating budgets.
Another interesting way to view the relationship between downtown and suburban office markets through the eyes of a potential investor is by looking at movements in rent. The cyclical relationship is such that during the downside of a rent cycle, rents converge as they fall faster and further in downtowns than they do in the suburbs. As an example, in the most recent recession, effective rents in downtowns fell by nearly 22%, while in the suburbs they fell by nearly 13%. A similar pattern is evident through each of the past three recessions. It is also true that on the upside there is more rent growth in downtown markets, particularly near cyclical peaks where downtown markets tend experience rent spikes, while rent increases in the suburbs tend to be slower and steadier.
On the whole, however, average rent growth tends to be nearly identical between downtowns and suburbs, particularly when one accounts for the additional volatility inherent in downtown markets. Though this seems to run counter to current conventional wisdom, much of the evidence suggests that the desire for businesses and individuals to pursue inner-city locations may be a little overstated. In fact, current data on office fundamentals suggest that the suburban office market may be leading the broader office recovery. Vacancy rates in the suburbs, for example, began to stabilize in early 2010, while downtown vacancy continued to rise through the third quarter of the year. And thus far, suburban markets have provided a majority of the demand increases we have seen nationally over the last year.
Still, if you talk to office investors, no matter what sort of data you present them, there is a perception that downtowns are the way to go—but for different reasons than mentioned above. They'll seldom argue about rent growth and volatility when it comes to suburbs versus downtowns, but it comes down to the more subtle differences in lease structure and capital expenses associated with leasing in these two types of markets. Suburban leases tend to average about four years where leases done in downtowns can run from five-to-10, sometimes more in certain, sought-after CBDs and financial districts. Because leases in the suburbs run shorter than in downtowns, investors need to consider that they will be laying out additional capital expenses to prepare and market space more often. The cyclical volatility issue notwithstanding, this means additional expense and risk.
Moreover, many investors are under the impression that office investments in CBDs are somehow safer and more insulated from risk than suburban investments. The evidence to support this is pretty clear. Over the past year, cap-rate compression has been far greater in CBDs as investors have tried to chase core and core-plus assets in select markets, in what is amounting to a flight to quality. And while investor preference is well-defined, the fundamentals—at least at the market level—don't necessarily support these improvements. Rather, it is the perception that larger more well-developed downtowns provide more security in the way of liquidity. That is, the ability to convert an asset into cash quickly. Yet, even despite recent trends, there is not a great deal of evidence to suggest this is the case; as the volume of transactions has remained evenly balanced across downtowns and suburbs. It simply boils down to what investors are willing to accept in the way of risk premium for each location.
So the question remains: where is the future of the office market? The demise of the suburban office market is likely overstated. With population centers more dispersed now that ever; there remains a need for office space outside of city centers. Suburban office centers will continue to allow businesses a lower-cost alternative to downtown space and will allow employers to locate conveniently near their workers. Suburban space will also continue to serve investors that are looking for a way to diversify their portfolios and are willing to research and seek out quality income-earning properties that will provide a stable revenue stream.
On the surface, a number of arguments seem to support the thesis of a rebound for downtown markets; some are more compelling than others. One, for example, is that businesses prefer downtowns because they are closer to clients and suppliers, which makes it more efficient to operate downtown than in a suburb. Another is the take on rising energy costs, which posits that individuals prefer downtowns because it lowers commuting costs by employing a mix of transportation options that are not as readily available in the suburbs. Moreover, declines in the incidence of crime in major cities over the last 20 years have made downtowns safer and more desirable, not just for commuters but also for residents. And finally, downtowns are just cooler than the suburbs. After all, you just can't find that cool, hipster coffeehouse vibe in the suburbs; you really need to be downtown for something like that.
Personally, I don't buy a number of these arguments. Let's begin with lowering commuting costs. In order to lower commuter costs we need to start with the assumption that most markets have a well-developed public transit system. They don't. Outside of Boston, Chicago, New York, San Francisco and Washington, D.C. there are simply no well-developed public transit systems to measurably reduce commuting by car—and thereby the expenses of commuting into a downtown area for work.
Crime is the one area where I agree; over the past two decades, cities have become safer. No argument there. Still, inner-city schools remain underfunded, understaffed and on the margin dangerous enough that most families with the means either move to the suburbs or opt for pricey private schools. So with families prone to relocating to beyond the city limits, what are we left with? That's right: the 20- and 30-somethings that make those coffeehouses so darn hip. And guess what? In those very coffeehouses, many of them are coupling, settling down, and unwittingly—and metaphorically—packing their bags for the greener pastures of the suburbs.
I don't mean to be a downer, but that's life. So let's get to the core of this argument, which is why businesses and investors flock to downtown locations. It's a more compelling argument, but even so it's not necessarily a slam-dunk for downtown office assets, nor is it the death knell of suburban office as we know it.
The notion of downtowns is great for business; being there offers both prestige and efficiency, in many cases. Tenants who take up space in downtown submarkets often do so to be closer to partners, clients and important business services. They offer a central location so businesses can draw commuters from the city and close suburban locations—perhaps even further out if they are in one of the aforementioned transportation markets. But, as economists like to say, there is no free lunch.
On average, the price per square foot of office space downtown is about $10 more than that for the suburbs, according to our TW rent index; and before you ask, this does account for asset-quality differences between posh high-rise business-district towers and smaller business-park offices. That margin may not seem like much, but consider that the difference is applied to an average five-year lease on 10,000 square feet of space. That's a difference of about half a million dollars, not accounting for the future value or opportunity cost of a five-year period.
Surely, as is the case with individuals, each tenant has its own utility function and budget constraint that determines both its willingness and ability to pay for office space. That said, to assume that downtown locations can command increasingly higher rents based on efficiencies and a general desire to be near a city center is to ignore the price elasticity of demand for space. At some point, the relative price of downtown space becomes too high to attract tenants away from their suburban locations. Moreover, it also prices certain businesses out of the market. For example, most investment banks in New York don't consider rents at all; they simply build new headquarters or purchase existing space outright. Large corporations also may have more flexibility on pricing, but this is not the case with smaller companies with less extensive operating budgets.
Another interesting way to view the relationship between downtown and suburban office markets through the eyes of a potential investor is by looking at movements in rent. The cyclical relationship is such that during the downside of a rent cycle, rents converge as they fall faster and further in downtowns than they do in the suburbs. As an example, in the most recent recession, effective rents in downtowns fell by nearly 22%, while in the suburbs they fell by nearly 13%. A similar pattern is evident through each of the past three recessions. It is also true that on the upside there is more rent growth in downtown markets, particularly near cyclical peaks where downtown markets tend experience rent spikes, while rent increases in the suburbs tend to be slower and steadier.
On the whole, however, average rent growth tends to be nearly identical between downtowns and suburbs, particularly when one accounts for the additional volatility inherent in downtown markets. Though this seems to run counter to current conventional wisdom, much of the evidence suggests that the desire for businesses and individuals to pursue inner-city locations may be a little overstated. In fact, current data on office fundamentals suggest that the suburban office market may be leading the broader office recovery. Vacancy rates in the suburbs, for example, began to stabilize in early 2010, while downtown vacancy continued to rise through the third quarter of the year. And thus far, suburban markets have provided a majority of the demand increases we have seen nationally over the last year.
Still, if you talk to office investors, no matter what sort of data you present them, there is a perception that downtowns are the way to go—but for different reasons than mentioned above. They'll seldom argue about rent growth and volatility when it comes to suburbs versus downtowns, but it comes down to the more subtle differences in lease structure and capital expenses associated with leasing in these two types of markets. Suburban leases tend to average about four years where leases done in downtowns can run from five-to-10, sometimes more in certain, sought-after CBDs and financial districts. Because leases in the suburbs run shorter than in downtowns, investors need to consider that they will be laying out additional capital expenses to prepare and market space more often. The cyclical volatility issue notwithstanding, this means additional expense and risk.
Moreover, many investors are under the impression that office investments in CBDs are somehow safer and more insulated from risk than suburban investments. The evidence to support this is pretty clear. Over the past year, cap-rate compression has been far greater in CBDs as investors have tried to chase core and core-plus assets in select markets, in what is amounting to a flight to quality. And while investor preference is well-defined, the fundamentals—at least at the market level—don't necessarily support these improvements. Rather, it is the perception that larger more well-developed downtowns provide more security in the way of liquidity. That is, the ability to convert an asset into cash quickly. Yet, even despite recent trends, there is not a great deal of evidence to suggest this is the case; as the volume of transactions has remained evenly balanced across downtowns and suburbs. It simply boils down to what investors are willing to accept in the way of risk premium for each location.
So the question remains: where is the future of the office market? The demise of the suburban office market is likely overstated. With population centers more dispersed now that ever; there remains a need for office space outside of city centers. Suburban office centers will continue to allow businesses a lower-cost alternative to downtown space and will allow employers to locate conveniently near their workers. Suburban space will also continue to serve investors that are looking for a way to diversify their portfolios and are willing to research and seek out quality income-earning properties that will provide a stable revenue stream.
2011年4月11日星期一
Uplifting Athletes 4rd Annual Dunk Tank Fundraiser at Blue-White Weekend to Benefit Kidney Cancer Association
The Penn State Chapter of Uplifting Athletes has announced the first group of current Nittany Lions that will be participating in a dunk tank fundraiser near Beaver Stadium Friday, April 15 from 4:30-7:00 p.m. as part of Blue-White Weekend presented by AAA.
On Saturday, before the Blue-White Game, Uplifting Athletes volunteers will be canning from 10 a.m.-2 p.m. around Beaver Stadium.
As in previous years, proceeds raised at the dunk tank and canning during Blue-White Weekend will benefit the Kidney Cancer Association.
Also available at the dunk tank will be Uplifting Athletes T-shirts and scarves, informational brochures, and a chance to meet and greet members of the Penn State football squad. The initial group of players scheduled to participate in the dunk tank are: Drew Astorino, Brandon Beachum, Christian Kuntz, D'Anton Lynn, Matt McGloin, DeOn'tae Pannell and Nate Stupar.
Penn State Uplifting Athletes' Ninth Annual Penn State Lift for Life will be held Friday, July 8 in Holuba Hall. Proceeds again will benefit the Kidney Cancer Association. Since 2003, the Penn State Lift For Life has continued to build awareness and raise funds for the Kidney Cancer Association and rare diseases. The event is organized by Penn State Football Uplifting Athletes, whose members are on the Penn State football team.
Founded by Penn State football teammates, the Penn State Chapter of Uplifting Athletes has raised nearly $500,000 for the Kidney Cancer Association since 2003. This past year, the chapter raised a record total of $98,461.35, more than $16,000 above the record total raised in 2009.
The Nittany Lions conclude spring practice with the Blue-White Game presented by AAA on Saturday, April 16. Kickoff is at 2:00 p.m. in Beaver Stadium and there is no admission or game day parking fee. The popular autograph session with the players is from 12:30-1:15 p.m. A carnival and other events, including fireworks and the Penn State Idol finals, are Friday from 6-10 p.m. adjacent to Beaver Stadium. The carnival and other events, run Saturday from 10 a.m. until 10 p.m. and the carnival runs on Sunday from 10 a.m.-3 p.m.
On Saturday, before the Blue-White Game, Uplifting Athletes volunteers will be canning from 10 a.m.-2 p.m. around Beaver Stadium.
As in previous years, proceeds raised at the dunk tank and canning during Blue-White Weekend will benefit the Kidney Cancer Association.
Also available at the dunk tank will be Uplifting Athletes T-shirts and scarves, informational brochures, and a chance to meet and greet members of the Penn State football squad. The initial group of players scheduled to participate in the dunk tank are: Drew Astorino, Brandon Beachum, Christian Kuntz, D'Anton Lynn, Matt McGloin, DeOn'tae Pannell and Nate Stupar.
Penn State Uplifting Athletes' Ninth Annual Penn State Lift for Life will be held Friday, July 8 in Holuba Hall. Proceeds again will benefit the Kidney Cancer Association. Since 2003, the Penn State Lift For Life has continued to build awareness and raise funds for the Kidney Cancer Association and rare diseases. The event is organized by Penn State Football Uplifting Athletes, whose members are on the Penn State football team.
Founded by Penn State football teammates, the Penn State Chapter of Uplifting Athletes has raised nearly $500,000 for the Kidney Cancer Association since 2003. This past year, the chapter raised a record total of $98,461.35, more than $16,000 above the record total raised in 2009.
The Nittany Lions conclude spring practice with the Blue-White Game presented by AAA on Saturday, April 16. Kickoff is at 2:00 p.m. in Beaver Stadium and there is no admission or game day parking fee. The popular autograph session with the players is from 12:30-1:15 p.m. A carnival and other events, including fireworks and the Penn State Idol finals, are Friday from 6-10 p.m. adjacent to Beaver Stadium. The carnival and other events, run Saturday from 10 a.m. until 10 p.m. and the carnival runs on Sunday from 10 a.m.-3 p.m.
Knicks 110, Pacers 109
My last regular-season recap means my last chance to use bullet points instead of a real recap. In the playoffs that just ain't gonna cut it, but tonight I can't pass up the opportunity at one last run of non sequiturs. Earlier today the Celtics were trounced in Miami, reinforcing my opinion that we should all be pulling for Knicks-Celts in round one. Will the Knicks come through? Let's find out.
First Quarter
When Chauncey Billups actually makes one of his horrendous pull-up 23-foot two pointers, I have the same look on my face Jay Bilas had every time VCU won a game in the NCAA Tournament.
Fields to the bucket for the layup – Knicks 17, Pacers 15. Those easy takes from Landry took us by surprise earlier in the year, then became rather commonplace, then disappeared completely…now? They're starting to come back. Good vibes heading into next weekend.
Jared…Jeffries…for…three?
You know, there are white guys in the league, and then there's Mike Dunleavy. He looks like he just got done shooting Hoosiers.
Bill Walker gets all backboard and no rim on a three, and just as I was starting to think, “Hey maybe we should give Mason a shot at those minutes,” I realized I wasn't judging Walker's entire game based on whether that shot went in, the way I would with Mason.
33-33 after one quarter. Melo with 14 on 10 FGA; looks like he's in that mood tonight.
Second Quarter
Derrick Brown is getting some second quarter burn, and he makes a nice cut to the hoop and draws a foul. I love these playoff auditions. We're early in the second quarter, the second unit is in full effect – Douglas, Fields, Turiaf, Brown and Carter – and all five of these guys are playing their stones off to earn that burn. Just now Turiaf had a rejection that looked like something out of Spartacus. This is fantastic to watch.
Oh, and the Pacers have taken a five-point lead. I know I kind of made it seem like we were up by 30 just now. Didn't want to lead anyone astray.
After a miss, Billups strips Granger and feeds Brown for the easy stuff. This is my one positive mention per post about Chauncey Billups. It comes purely out of journalistic obligation.
Shawne Williams with an athletic block on Collison, catching him from behind and swatting it off the glass; Jeffries with a block on Hibbert after some tough D; Douglas follows his own miss with a an offensive board and sets up Billups for three. Hustle plays!
Pacers color announcer Quinn Buckner: “Defensively, the Knicks are playing much better. They're playing with intensity, they're playing with athleticism – Mike D'Antoni's team has been criticized for not playing defense. They're bringing it tonight.” I believe praising the Knicks' defense is step one of How Not to Get Hired by ESPN.
Despite better defense, Indiana is on pace to score 122 points. The Knicks got hot from downtown, however, and lead this one 67-61 at halftime. Lots of fouls, but an energetic affair so far with both teams mostly even across the board, but the Knicks' efforts from behind the arc have them in front for the moment. Other than Melo's 18 points and Billups, who's 4-8 with 15 points, it's been balanced scoring across the board as D'Antoni appears to be letting everybody get just enough run in to break a sweat.
Third Quarter
Shawne Williams picks up his fourth foul 30 seconds into the second half. Oy.
Hibbert just abuses Shelden Williams on the low block and gets an open dunk. I guess the silver lining there is that neither the Celtics nor the Heat has a player capable of doing that.
Collison runs circles around Billups and ties the game at 72. He's got nine; Billups hasn't been exposed by the smaller, quicker Collison like some (read: me) might have expected.
Hibbert finds George cutting to the bucket for a jam, and Billups gets T'ed up for bitching and moaning. The Knicks have gone over five minutes without a field goal. Pacers by four, 5:30 to go.
Melo makes a free throw to secure his 61st 20-point game of the year. Pretty amazing. The next time down he buries a pull-up trey to end the Knicks' field goal drought and put New York ahead.
Dahntay Jones strips Anthony, and George finishes a lob from Collison on the fast break; on the next possession Melo is right back at it, though, and hits an 18-footer. He's 8-22 for 26 points. Again, pretty amazing.
If I weren't a Knicks fan and I had to watch Chauncey Billups flop for cheap fouls and get three free throws because he jumped from behind the line and end up chucking up a 17-footer, I would've put an axe through my television a long time ago. Mr. Big Shot is 4-11, because if he shot any better there wouldn't be any big shots to hit down the stretch, now would there?
Anthony picks up his fifth foul after Collison crosses Carter out of his shoes. Seriously, that was some And-1 Mixtape tour stuff – Carter is off the bus.
Chris Denari on Jared Jeffries: “This is a big scoring night for him – he has 7!” Not as much sarcasm as you would've thought.
Carter throws a fastball through Jeffries' hands. I thought point guards were supposed to know their big men?
Hibbert with a baby hook, Shawne Williams throws the inbounds pass away, and AJ Price buries a trey to end the quarter with Indy at its largest lead, 96-87. An ugly quarter for the Knicks who shot very poorly and are on life support only by their efforts at the line.
Fourth Quarter
A rare layup from Shawne Williams cuts the lead to three at the 9:30. Good showing from Shawne tonight despite 1-5 3PT – he's played tough D and looked energetic running the floor.
Nice job by Bully Walker to draw a blocking foul on Jeff Foster; he used just enough body movement at the point of contact to get Foster out of position to take the charge. Good to see Shawne and Bully in competition to prove they can do things besides stand alone and shoot threes.
Billups throws a brick off the backboard and then has to wrap up Collison on the fast break. Obviously that shot wasn't big enough or it would've gone in.
Anthony makes his return with five fouls at the 6:07 mark, and buries two threes in short order (six for the game) to bring the deficit to two. He has 32 but until those last two possessions it hadn't been the efficient 32 we've seen the last couple weeks.
The Knicks are spreading the floor to create chances for their three-point shooters, but Shawne can't make them pay. At this point, without Amar'e, you'd have to say it's probably time to just hand Melo the reins and ask him to win the game. I'm all for ball movement, but Indiana isn't respecting anyone but Melo; if the others are going to get opportunities, it will be through Melo's creativity.
Mr. Big Shot gets called for a carry. With two minutes to go in a tight game in the fourth quarter. I'll let you imagine for yourself how obvious that carry had to have been. Thanks again for coming, Chauncey.
Funny sequence as the Knicks bring it up but Billups actually can't get separation on Collison to get the ball and start the offense. That's our point guard, ladies and gentlemen. He'll be here all spring.
Mr. Big Shot goes one of two at the line to cut the deficit to three. Shawne strips Collison and Fields finishes with a dunk on the other end! And it's a one-point game! Timeout Indiana, 40 seconds to go.
Collison launches a terrible shot with the shot clock winding down and, it must be said, excellent defense from Billups. Turiaf on the board and the Knicks have it down one with 13 to go as Quinn Buckner insists the Knicks have two legitimate end-of-game options. I'll let you guess the second one.
Anthony gets it in isolation…face up…one dribble…burial. Knicks by one with five seconds to play. It's their first lead since…well, I have no idea. You think I have a statistician sitting here next to me? Anyway, it's been a while since they led. While we're here, thought, I will drop some numbers on you: the Knicks were outrebounded by 13 in the second half after going even in the first, and the Knicks allowed just 13 points in the fourth quarter after 35 in the third.
Final play of the game: Granger gets it 20 feet away, one dribble and up…and MELO REJECTS HIM! Collison alertly grabbed the rebound and threw one up in desperation, but to no avail: your final is Knicks 110, Pacers 109. Really a pretty classic “Good Team Minus an Important Player Finding a Way to Get It Done on the Road” victory. The Knicks didn't have their best game, and didn't match up very well on the perimeter or in the paint, and still found a way to get ahead at the right time. For Knicks fans it's more incredibly encouraging stuff as we roll on to the playoffs, the kind of win you'd expect from a more mature and experienced group. Hell, I've seen the Celtics win that game about a dozen times this year alone. Savor this victory, thanks for putting up with all this verbiage, and enjoy what little weekend we still have left.
First Quarter
When Chauncey Billups actually makes one of his horrendous pull-up 23-foot two pointers, I have the same look on my face Jay Bilas had every time VCU won a game in the NCAA Tournament.
Fields to the bucket for the layup – Knicks 17, Pacers 15. Those easy takes from Landry took us by surprise earlier in the year, then became rather commonplace, then disappeared completely…now? They're starting to come back. Good vibes heading into next weekend.
Jared…Jeffries…for…three?
You know, there are white guys in the league, and then there's Mike Dunleavy. He looks like he just got done shooting Hoosiers.
Bill Walker gets all backboard and no rim on a three, and just as I was starting to think, “Hey maybe we should give Mason a shot at those minutes,” I realized I wasn't judging Walker's entire game based on whether that shot went in, the way I would with Mason.
33-33 after one quarter. Melo with 14 on 10 FGA; looks like he's in that mood tonight.
Second Quarter
Derrick Brown is getting some second quarter burn, and he makes a nice cut to the hoop and draws a foul. I love these playoff auditions. We're early in the second quarter, the second unit is in full effect – Douglas, Fields, Turiaf, Brown and Carter – and all five of these guys are playing their stones off to earn that burn. Just now Turiaf had a rejection that looked like something out of Spartacus. This is fantastic to watch.
Oh, and the Pacers have taken a five-point lead. I know I kind of made it seem like we were up by 30 just now. Didn't want to lead anyone astray.
After a miss, Billups strips Granger and feeds Brown for the easy stuff. This is my one positive mention per post about Chauncey Billups. It comes purely out of journalistic obligation.
Shawne Williams with an athletic block on Collison, catching him from behind and swatting it off the glass; Jeffries with a block on Hibbert after some tough D; Douglas follows his own miss with a an offensive board and sets up Billups for three. Hustle plays!
Pacers color announcer Quinn Buckner: “Defensively, the Knicks are playing much better. They're playing with intensity, they're playing with athleticism – Mike D'Antoni's team has been criticized for not playing defense. They're bringing it tonight.” I believe praising the Knicks' defense is step one of How Not to Get Hired by ESPN.
Despite better defense, Indiana is on pace to score 122 points. The Knicks got hot from downtown, however, and lead this one 67-61 at halftime. Lots of fouls, but an energetic affair so far with both teams mostly even across the board, but the Knicks' efforts from behind the arc have them in front for the moment. Other than Melo's 18 points and Billups, who's 4-8 with 15 points, it's been balanced scoring across the board as D'Antoni appears to be letting everybody get just enough run in to break a sweat.
Third Quarter
Shawne Williams picks up his fourth foul 30 seconds into the second half. Oy.
Hibbert just abuses Shelden Williams on the low block and gets an open dunk. I guess the silver lining there is that neither the Celtics nor the Heat has a player capable of doing that.
Collison runs circles around Billups and ties the game at 72. He's got nine; Billups hasn't been exposed by the smaller, quicker Collison like some (read: me) might have expected.
Hibbert finds George cutting to the bucket for a jam, and Billups gets T'ed up for bitching and moaning. The Knicks have gone over five minutes without a field goal. Pacers by four, 5:30 to go.
Melo makes a free throw to secure his 61st 20-point game of the year. Pretty amazing. The next time down he buries a pull-up trey to end the Knicks' field goal drought and put New York ahead.
Dahntay Jones strips Anthony, and George finishes a lob from Collison on the fast break; on the next possession Melo is right back at it, though, and hits an 18-footer. He's 8-22 for 26 points. Again, pretty amazing.
If I weren't a Knicks fan and I had to watch Chauncey Billups flop for cheap fouls and get three free throws because he jumped from behind the line and end up chucking up a 17-footer, I would've put an axe through my television a long time ago. Mr. Big Shot is 4-11, because if he shot any better there wouldn't be any big shots to hit down the stretch, now would there?
Anthony picks up his fifth foul after Collison crosses Carter out of his shoes. Seriously, that was some And-1 Mixtape tour stuff – Carter is off the bus.
Chris Denari on Jared Jeffries: “This is a big scoring night for him – he has 7!” Not as much sarcasm as you would've thought.
Carter throws a fastball through Jeffries' hands. I thought point guards were supposed to know their big men?
Hibbert with a baby hook, Shawne Williams throws the inbounds pass away, and AJ Price buries a trey to end the quarter with Indy at its largest lead, 96-87. An ugly quarter for the Knicks who shot very poorly and are on life support only by their efforts at the line.
Fourth Quarter
A rare layup from Shawne Williams cuts the lead to three at the 9:30. Good showing from Shawne tonight despite 1-5 3PT – he's played tough D and looked energetic running the floor.
Nice job by Bully Walker to draw a blocking foul on Jeff Foster; he used just enough body movement at the point of contact to get Foster out of position to take the charge. Good to see Shawne and Bully in competition to prove they can do things besides stand alone and shoot threes.
Billups throws a brick off the backboard and then has to wrap up Collison on the fast break. Obviously that shot wasn't big enough or it would've gone in.
Anthony makes his return with five fouls at the 6:07 mark, and buries two threes in short order (six for the game) to bring the deficit to two. He has 32 but until those last two possessions it hadn't been the efficient 32 we've seen the last couple weeks.
The Knicks are spreading the floor to create chances for their three-point shooters, but Shawne can't make them pay. At this point, without Amar'e, you'd have to say it's probably time to just hand Melo the reins and ask him to win the game. I'm all for ball movement, but Indiana isn't respecting anyone but Melo; if the others are going to get opportunities, it will be through Melo's creativity.
Mr. Big Shot gets called for a carry. With two minutes to go in a tight game in the fourth quarter. I'll let you imagine for yourself how obvious that carry had to have been. Thanks again for coming, Chauncey.
Funny sequence as the Knicks bring it up but Billups actually can't get separation on Collison to get the ball and start the offense. That's our point guard, ladies and gentlemen. He'll be here all spring.
Mr. Big Shot goes one of two at the line to cut the deficit to three. Shawne strips Collison and Fields finishes with a dunk on the other end! And it's a one-point game! Timeout Indiana, 40 seconds to go.
Collison launches a terrible shot with the shot clock winding down and, it must be said, excellent defense from Billups. Turiaf on the board and the Knicks have it down one with 13 to go as Quinn Buckner insists the Knicks have two legitimate end-of-game options. I'll let you guess the second one.
Anthony gets it in isolation…face up…one dribble…burial. Knicks by one with five seconds to play. It's their first lead since…well, I have no idea. You think I have a statistician sitting here next to me? Anyway, it's been a while since they led. While we're here, thought, I will drop some numbers on you: the Knicks were outrebounded by 13 in the second half after going even in the first, and the Knicks allowed just 13 points in the fourth quarter after 35 in the third.
Final play of the game: Granger gets it 20 feet away, one dribble and up…and MELO REJECTS HIM! Collison alertly grabbed the rebound and threw one up in desperation, but to no avail: your final is Knicks 110, Pacers 109. Really a pretty classic “Good Team Minus an Important Player Finding a Way to Get It Done on the Road” victory. The Knicks didn't have their best game, and didn't match up very well on the perimeter or in the paint, and still found a way to get ahead at the right time. For Knicks fans it's more incredibly encouraging stuff as we roll on to the playoffs, the kind of win you'd expect from a more mature and experienced group. Hell, I've seen the Celtics win that game about a dozen times this year alone. Savor this victory, thanks for putting up with all this verbiage, and enjoy what little weekend we still have left.
2011年4月7日星期四
10 Signs That Food Inflation Is Alive and Well at Retail
After the recent report from the U.S. Department of Agriculture predicted tight corn supplies, prices spiked almost 5%, in a blink.
Why should you care? Because rising corn prices all but guarantee you'll be paying more to put food on your table. (Aside from being a summer BBQ favorite, corn is a critical input for livestock producers and food makers.)
And as an analyst from Farm Futures Magazine said Thursday, “We could see double-digit corn prices if a legitimate weather scare makes headlines on Wall Street this summer.”
But don't mistake this as a warning of food inflation to come. Truth is, it's already here.
And for consumers, food producers are merely masking the uptick in prices with a concept that Seinfeld's George Costanza knows all too well: Shrinkage!
You see, food companies don't need to raise their prices to charge more for a product. All they need to do is camouflage the increases by selling less food for the same amount, often in the same package.
Here are 10 examples to prove that this is exactly what's happening:
Chicken of the Sea Albacore Tuna: Now comes in a 5-ounce can, instead of a 6-ounce can – a 16% change.
Doritos, Tostitos and Fritos: Although the company swears it's a “limited time offer,” bags now contain 20% fewer chips than in 2009.
Nabisco Premium Saltines: Kraft (KFT) claims its new “Fresh Stacks” packaging “offers the benefit of added freshness.” It also holds about 15% fewer crackers.
Unwrapped Reese's Minis: Introduced in February, the cost per ounce is 54% higher than the foil-wrapped Miniatures. And they're smaller, too.
H.J. Heinz (NYSE: HNZ): Talk about a condiment caper. Not only have prices for ketchup, condiments and sauces risen, the company is also selling smaller, 5-ounce bottles.
Classico Pasta Sauce: While Italian grandmothers will still make their homemade sauce, average Americans won't have any extra sauce left in which to dunk their bread. Classico went from offering 10-ounce bottles to 8.1 ounces – a 20% reduction.
Edy's Ice Cream: No more drowning our sorrows in a big ol' tub of ice cream. Edy's has reduced its standard size from two liters to 1.5 liters – a 25% change.
Tropicana: As the cost of oranges rose, Tropicana decided we didn't need as much of our daily allowance of Vitamin C. The standard carton size shrunk to 59 ounces from 64 ounces – a 7.9% change.
Hebrew National Hot Dogs: Pinch an ounce and consumers won't notice, right? Wrong. The standard package now weighs in at 11 ounces, down from the previous 12 ounces – an 8.3% change.
Kraft American Cheese: Forget making sure you have enough buns for your burgers -- you'll run out of cheese first. Instead of 24 slices, you now only get 22 slices – an 8.3% reduction.
As John T. Gourville, a marketing professor at Harvard Business School says, “Consumers are generally more sensitive to changes in prices than changes in quantity. And companies try to do it [reduce amounts] in such a way that you don't notice.”
It's only natural to expect the shrinkage to continue as corn prices and other commodity costs rise. That is, until it's so obvious that food companies can't avoid outright price increases. So don't be fooled by the clever packaging. Food inflation is alive and well. If you have any doubt, start paying a little more attention at the checkout line.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Why should you care? Because rising corn prices all but guarantee you'll be paying more to put food on your table. (Aside from being a summer BBQ favorite, corn is a critical input for livestock producers and food makers.)
And as an analyst from Farm Futures Magazine said Thursday, “We could see double-digit corn prices if a legitimate weather scare makes headlines on Wall Street this summer.”
But don't mistake this as a warning of food inflation to come. Truth is, it's already here.
And for consumers, food producers are merely masking the uptick in prices with a concept that Seinfeld's George Costanza knows all too well: Shrinkage!
You see, food companies don't need to raise their prices to charge more for a product. All they need to do is camouflage the increases by selling less food for the same amount, often in the same package.
Here are 10 examples to prove that this is exactly what's happening:
Chicken of the Sea Albacore Tuna: Now comes in a 5-ounce can, instead of a 6-ounce can – a 16% change.
Doritos, Tostitos and Fritos: Although the company swears it's a “limited time offer,” bags now contain 20% fewer chips than in 2009.
Nabisco Premium Saltines: Kraft (KFT) claims its new “Fresh Stacks” packaging “offers the benefit of added freshness.” It also holds about 15% fewer crackers.
Unwrapped Reese's Minis: Introduced in February, the cost per ounce is 54% higher than the foil-wrapped Miniatures. And they're smaller, too.
H.J. Heinz (NYSE: HNZ): Talk about a condiment caper. Not only have prices for ketchup, condiments and sauces risen, the company is also selling smaller, 5-ounce bottles.
Classico Pasta Sauce: While Italian grandmothers will still make their homemade sauce, average Americans won't have any extra sauce left in which to dunk their bread. Classico went from offering 10-ounce bottles to 8.1 ounces – a 20% reduction.
Edy's Ice Cream: No more drowning our sorrows in a big ol' tub of ice cream. Edy's has reduced its standard size from two liters to 1.5 liters – a 25% change.
Tropicana: As the cost of oranges rose, Tropicana decided we didn't need as much of our daily allowance of Vitamin C. The standard carton size shrunk to 59 ounces from 64 ounces – a 7.9% change.
Hebrew National Hot Dogs: Pinch an ounce and consumers won't notice, right? Wrong. The standard package now weighs in at 11 ounces, down from the previous 12 ounces – an 8.3% change.
Kraft American Cheese: Forget making sure you have enough buns for your burgers -- you'll run out of cheese first. Instead of 24 slices, you now only get 22 slices – an 8.3% reduction.
As John T. Gourville, a marketing professor at Harvard Business School says, “Consumers are generally more sensitive to changes in prices than changes in quantity. And companies try to do it [reduce amounts] in such a way that you don't notice.”
It's only natural to expect the shrinkage to continue as corn prices and other commodity costs rise. That is, until it's so obvious that food companies can't avoid outright price increases. So don't be fooled by the clever packaging. Food inflation is alive and well. If you have any doubt, start paying a little more attention at the checkout line.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
2011年4月5日星期二
Sliders: Falling for Quentin ... again
It's the plight of every Fantasy writer in the age of information overload.
How am I supposed to pick up on any trends after only three games?
It's not for the faint of heart, and if you're not careful with it, you'll end up destroying a good team. Most of what stands out right now is the product small sample size -- a whole 1.9 percent of the season -- and doesn't deserve any attention from Fantasy owners. Ryan Hanigan's 1.571 slugging percentage? Get real. Jon Lester's 8.44 ERA? Not buying it. Albert Pujols' .154 batting average? Come on already.
But for a handful of players, enough has happened to change the way Fantasy owners perceive them. And once again, Sliders is here to identify those players.
Over the course of a season, stuff changes. Players progress and regress faster than anyone could have predicted. Sometimes they just blow up out of nowhere. By the end of the year, your draft results should be like a foggy memory from the weirdest dream you've ever had. If not, if you haven't adjusted your thinking on players based on the way they've performed, you've probably gotten left in the dust.
But you don't have to do it alone. Sliders will track the changes in player value from start to finish, steering Fantasy owners away from ordinary hot and cold streaks and toward the performances that actually mean something. It's prediction based on reaction and more of a guessing game than an exact science. But it's important nonetheless.
Because come September, your draft won't matter nearly as much as how well you adjusted throughout the season.
How am I supposed to pick up on any trends after only three games?
It's not for the faint of heart, and if you're not careful with it, you'll end up destroying a good team. Most of what stands out right now is the product small sample size -- a whole 1.9 percent of the season -- and doesn't deserve any attention from Fantasy owners. Ryan Hanigan's 1.571 slugging percentage? Get real. Jon Lester's 8.44 ERA? Not buying it. Albert Pujols' .154 batting average? Come on already.
But for a handful of players, enough has happened to change the way Fantasy owners perceive them. And once again, Sliders is here to identify those players.
Over the course of a season, stuff changes. Players progress and regress faster than anyone could have predicted. Sometimes they just blow up out of nowhere. By the end of the year, your draft results should be like a foggy memory from the weirdest dream you've ever had. If not, if you haven't adjusted your thinking on players based on the way they've performed, you've probably gotten left in the dust.
But you don't have to do it alone. Sliders will track the changes in player value from start to finish, steering Fantasy owners away from ordinary hot and cold streaks and toward the performances that actually mean something. It's prediction based on reaction and more of a guessing game than an exact science. But it's important nonetheless.
Because come September, your draft won't matter nearly as much as how well you adjusted throughout the season.
2011年4月1日星期五
Scalping Final Four Tickets Is No Slam Dunk
When I bought a ticket to the Final Four basketball title game to resell for profit, I thought I'd hit nothing but net. Instead, I shot the equivalent of a scalper's air ball.
I purchased a $90 face-value ticket from StubHub in early March for $112 -- $135 when you total in the service charge and FedEx mailing. I still thought it was a good deal for the crowning moment of one of America's biggest sporting events, the NCAA Tournament. I was wrong. This week I resold the ticket on StubHub for $88. After StubHub took its 15%, I was left with $74.80. That's a $60.20 loss. (Remember, I paid $135 originally.)
Scalping is a tough game, and I may not get a chance to compete anymore. I've been benched by my wife.
So much for my new and exciting side job. I had this crazy idea that from time to time I would buy sports tickets online at a relative bargain and increase the price in the "secondary market". That's fancy talk for any place you can scalp.
I should mention that I have written before about StubHub in this space as an observer, and I bought tickets from from the site to actually attend an event. This time was different. I was in it to score a profit.
I figured the Final Four was a sure thing. Immediately after I bought my ticket I saw asking prices for the cheapest seats listed rise to $169 in mid-March. I patted myself on the rump for my good play (like they do in basketball). I decided to wait for the week before Monday's game to list the ticket back on StubHub. Then the listings plummeted below $100. I checked eBay and saw the same descent. Still convinced interest would surge as the event got closer, I finally listed the ticket on StubHub for $143. I waited 24 hours for a bite. Nada.
I pondered waiting until after Saturday's semifinals, thinking any ticketless fans of the winners of the games between Virginia Commonwealth and Butler and Connecticut and Kentucky would pay top dollar for Monday's championship. (StubHub offered an option where you could mail the tickets to company officials in Houston, the site of the Final Four. Then you could list the tickets right up to game time.)
But I didn't have the guts. I rose from bed on Tuesday, March 29, at 3 a.m., slashed my ticket price to $88, and within three minutes I received an email that my ticket had sold. A Kentucky man bought it, I later discovered. Go, Wildcats.
So where did I go wrong? Well, I can figure out a few things:
1. I bought a single ticket. Most folks like to go with someone.
2. Houston's Reliant Stadium, a football venue posing as a basketball arena, will seat more than 72,000 for the Final Four. A huge capacity creates a ticket surplus that sinks prices.
3. Semifinal tickets are actually more valuable because at least buyers know their team will be playing.
4. I studied what sellers were asking for tickets instead of what buyers were actually paying.
5. The service charges are too much to overcome.
6. The Final Four is not the Super Bowl. Just getting into the game isn't enough for many.
www.999plaza.net also suggests that scalper, or "ticket broker," wannabes buy premium seats (if you can afford them) to resell at premium prices. Logical, no? It's the good seats that jack up in value for a big event while the nosebleeds like the one I bought tend to be more static.
But even the pros miss once in a while. Brokers who bought blocks of tickets for Charlie Sheen's shows said in the New York Daily News that they will lose money because the seats are either not selling at all or way below face value.
That makes me feel better but it won't get me back in the game. The next time I buy a ticket to a basketball game, I'll actually show up for the tip-off.
I purchased a $90 face-value ticket from StubHub in early March for $112 -- $135 when you total in the service charge and FedEx mailing. I still thought it was a good deal for the crowning moment of one of America's biggest sporting events, the NCAA Tournament. I was wrong. This week I resold the ticket on StubHub for $88. After StubHub took its 15%, I was left with $74.80. That's a $60.20 loss. (Remember, I paid $135 originally.)
Scalping is a tough game, and I may not get a chance to compete anymore. I've been benched by my wife.
So much for my new and exciting side job. I had this crazy idea that from time to time I would buy sports tickets online at a relative bargain and increase the price in the "secondary market". That's fancy talk for any place you can scalp.
I should mention that I have written before about StubHub in this space as an observer, and I bought tickets from from the site to actually attend an event. This time was different. I was in it to score a profit.
I figured the Final Four was a sure thing. Immediately after I bought my ticket I saw asking prices for the cheapest seats listed rise to $169 in mid-March. I patted myself on the rump for my good play (like they do in basketball). I decided to wait for the week before Monday's game to list the ticket back on StubHub. Then the listings plummeted below $100. I checked eBay and saw the same descent. Still convinced interest would surge as the event got closer, I finally listed the ticket on StubHub for $143. I waited 24 hours for a bite. Nada.
I pondered waiting until after Saturday's semifinals, thinking any ticketless fans of the winners of the games between Virginia Commonwealth and Butler and Connecticut and Kentucky would pay top dollar for Monday's championship. (StubHub offered an option where you could mail the tickets to company officials in Houston, the site of the Final Four. Then you could list the tickets right up to game time.)
But I didn't have the guts. I rose from bed on Tuesday, March 29, at 3 a.m., slashed my ticket price to $88, and within three minutes I received an email that my ticket had sold. A Kentucky man bought it, I later discovered. Go, Wildcats.
So where did I go wrong? Well, I can figure out a few things:
1. I bought a single ticket. Most folks like to go with someone.
2. Houston's Reliant Stadium, a football venue posing as a basketball arena, will seat more than 72,000 for the Final Four. A huge capacity creates a ticket surplus that sinks prices.
3. Semifinal tickets are actually more valuable because at least buyers know their team will be playing.
4. I studied what sellers were asking for tickets instead of what buyers were actually paying.
5. The service charges are too much to overcome.
6. The Final Four is not the Super Bowl. Just getting into the game isn't enough for many.
www.999plaza.net also suggests that scalper, or "ticket broker," wannabes buy premium seats (if you can afford them) to resell at premium prices. Logical, no? It's the good seats that jack up in value for a big event while the nosebleeds like the one I bought tend to be more static.
But even the pros miss once in a while. Brokers who bought blocks of tickets for Charlie Sheen's shows said in the New York Daily News that they will lose money because the seats are either not selling at all or way below face value.
That makes me feel better but it won't get me back in the game. The next time I buy a ticket to a basketball game, I'll actually show up for the tip-off.
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