Carl Icahn snaps up another $500M of Apple stock

SAN FRANCISCO — Outspoken billionaire Carl Icahn has tossed another bushel of Apple stock into his investment portfolio and suggested some new products as he tries to persuade the iPhone maker to do more to lift its market value.

In an attempt to give his arguments more credence, Icahn disclosed that he invested another $500 million in Apple Inc. in a series of purchases made Thursday.

With the latest shopping spree, Icahn has spent $1 billion on Apple stock during the past weeks to raise his total holdings in the Cupertino, Calif., company to $3.6 billion since he began buying the shares five months ago when they were still trading below $450.

Apple's stock rose $4.67 to close at $556.18 on Thursday. Despite the recent gains, the shares remain about 20 percent below their peak reached 16 months ago.

Icahn, a longtime activist investor, has been lobbying Apple's board to boost the stock by funneling more of the company's $147 billion in cash toward share repurchases. Meeting Icahn's demands would require Apple to spend more on its stock than it planned, something the board so far has been unwilling to do.

The impasse has set the stage for a Feb. 28 showdown at Apple's annual meeting, where shareholders will vote on a non-binding proposal recommending that the board follow Icahn's advice. Apple is urging its shareholders to vote against the proposal, saying it is already reviewing ways to return more cash to shareholders.

Icahn tried to sway Apple shareholders to his side Thursday with the release of an open letter that represented his most detailed explanation so far about why he believes the company is worth substantially more than its current market value of about $500 billion.

Besides elaborating on the reasons why he believes it's a "no-brainer" for Apple to buy more of its own stock, Icahn took the unusual step of pointing out new markets where he believes the company could easily make even more money than it already does with its line of iPhones, iPads, iPods and Mac computers.

Icahn made it clear he wants to see an Apple television set, a device that has been a subject of company speculation for the past three years. Steve Jobs, Apple's late CEO and co-founder, suggested Apple was working on a TV set in interviews with his biographer before he died in October 2011.

In the letter, Icahn suggested that Apple should make a $1,600 television set with an "ultra" high-definition screen designed to show so-called "4K' programming that will be coming from Internet video service Netflix Inc. and other sources later this year. Icahn thinks Apple could sell at least 25 million of the ultra-HD sets backed by its brand and software, generating about $40 billion in revenue.

Icahn also touted the possibility of Apple making a smartwatch, an idea that company CEO Tim Cook has hinted at in public appearances. Icahn also thinks the company is ideally positioned to roll out a system for handling digital payments.

The letter also jabbed at a sore point at Apple by referring to the perceived lack of innovation at the company since Jobs died. Icahn described recent upgrades to the iPhone and iPad as "evolutionary (not revolutionary)."

Apple didn't immediately respond to requests for comment.

As has been the case through most of his public campaign, Icahn praised Cook in his letter for doing an "excellent job."

Icahn's main beef has been with Apple's board, which consists of Cook and seven other members. In an interview with the Fox Business network, Icahn said it's "almost criminal" for the board to resist increasing the company's stock buyback program and questioned the directors' intelligence about financial matters.

Icahn wants Apple to spend $50 billion buying back its stock by the end of its fiscal year ending in September. The company began the year with $37 billion left to invest in a $60 billion buyback program that doesn't expire until September 2015.

00.32 | 0 komentar | Read More

Experts: Care.com IPO shows Boston’s Web savvy

The long-awaited initial public offering of Boston-based Care.com shows that consumer-oriented startups can find success locally and offers a boost to other such companies in the region, experts said.

"I think it's a fantastic example of how to build great Internet companies here in Boston," said investor and entrepreneur Andy Palmer. "It validates that it is not only possible, but advantageous to do consumer Internet companies here in Boston."

Founded in 2006 and launched in 2007, Care.com helps people find caregivers for kids, seniors and pets. Available in the U.S., Canada and much of Europe, Care.com, which is headquartered in Waltham, has more than 9.5 million members, the company says, and has 350 full-time employees.

"We don't have a lot of consumer companies that have seen these kind of companies," said Sarah Hodges, founder of entrepreneur training firm, Intelligent.ly. The last venture-funded company to go public in Boston was automotive software firm Exa Corp. in June 2012.

IPO tracker Renaissance Capital said Care.com is "joining a group of strong performing, category leading Internet properties."

Palmer said a big public company can be a pillar for other startups.

"It gives people confidence that if they do a startup and it doesn't work out that they can go work for a larger public company that is still cutting-edge cool — this is what Google, Yahoo!, Cisco, LinkedIN, Oracle provide out in Silicon valley," Palmer said.

The company priced shares at $17 last night, above the expected range of $14 to $16 per share. Care.com is expected to raise more than $90 million. A spokeswoman for Care.com declined comment, citing an SEC mandated quiet period for IPOs.

00.32 | 0 komentar | Read More

7 Signs You’re About to be Fired

You've heard the rumors in the breakroom. Layoffs are imminent. Or maybe you just didn't meet your productivity goals last quarter and you're nervous. Are you the one who'll be laid off? Did your mistake cost you your job? How can you tell?

Here are some signs you're about to get the boot.

Your Level of Responsibility Has Taken a Nosedive

If you used to handle huge projects and now you're fetching coffee, that's bad. If you're typically so busy that you barely have time to blink and now you have to ask for work, tasks have obviously been shifted to others. Career coach Chaz Pitts-Kyser says, "This means your boss is already preparing for your absence and doesn't want too many of your assignments up in the air when he or she finally tells you you're getting the pink slip."

The Boss Is Avoiding You

"One of the biggest signs that you may be on the short list and about to be shown your way to the door is when people, including your boss or manager, begin to avoid you or become less responsive to your calls, emails, etc," says Lin Grensing-Pophal. The human resources author advises seeking feedback in these situations rather than avoiding it. "It may represent an opportunity to turn the situation around."

You've Been Disciplined Recently

Many people participate in their own discipline meetings and then fail to see it coming when they're let go. Let's face it, though, you know if you aren't a good employee. If you're constantly late, not meeting your sales or production goals, having problems with your co-workers, etc. then this should not be a surprise. The first meeting or write-up is a warning, the second is a gift to let you know you're on really thin ice. The third is usually the end.

All Hail the Robots!

If your job can be automated, it probably will be automated. "If the type of work that you do can be done by a machine instead of a person, you may need to look for another type of job," says career coach Cheryl Palmer, owner of Call to Career. "It's usually just a matter of time before your company decides that a machine can do your job for less money."

No More Professional Development

If you are no longer permitted to leave for professional association luncheons or your employer withdraws prior approval for a class you wanted to take, this is a bad sign. It may be a "back door" communication strategy, according to Leigh Steere, a management coach. Steere advises employees in this situation to ask, tactfully, what is going on -- and possibly to begin looking for another job.

Your Company Was Recently Acquired

If you work at Small Widget Factory and are bought out by Gigantic Widget Factory, chances are they already have someone there who does your job. You may be asked to remain for a while to get your counterpart at Gigantic Widget Factory up to speed, but then your duplicate position will probably be eliminated.

You've Been Asked to Create a Job Description for Your Position

If a company is in financial trouble and cutting costs, eliminating salaries is always a possibility and the company will need to prepare for when you're gone. "One way they do that is by making a big push to get precise, updated job descriptions for everyone. The company needs to know exactly what you do so they can possibly replace you with a lower paid employee or even a temp," says Julie Austin, founder of Fun Job Fairs. Of course there are legitimate reasons for getting job descriptions also, so context is key in this regard.

-- Dominique Rodgers, Monster Contributing Writer

00.32 | 0 komentar | Read More

Techstars Boston announces new class

Start-up accelerator Techstars Boston, the local branch of one of the most prominent start-up accelerator programs in the country, announced its newest wave of companies today.

"I just want to express how honored we are to have such strong support from our mentors, investors and sponsors in the Greater Boston community. We take this moment to thank them," said managing director Katie Rae in a blog post.

Techstars, which just moved from Cambridge to the Leather District offers free office space and access to the program's mentors, a who's who list of big-name Boston entrepreneurs and investors. The companies will get $118,000 in investment and debt funding. This will be the seventh program in Boston, ending on April 29

The companies, described by Techstars:

Cangrade: Cangrade automates HR with a candidate assessment and prediction tool

Change Collective: Transforming change. High-quality content from world-class experts plus technology built to help you change and learn anything.

ecoVent: ecoVent makes a smart, wireless, HVAC Zoning system that allows room by room temperature control in the home

Hermes: Platform for doctors to prioritize inbound patient information for optimizing workflow

Kinematiq: Hardware and software platform to quantify action sports and connect participants and brands

Litographs: Litographs helps authors connect with fans by producing tasteful, customizable and unique literary merchandise

Mapkin: Mapkin navigation adds crowd-sourced, personalized, human details to the journey

Narvii: Narvii is creating a mobile-first community platform for long-tail interests, organizations & brands

Onion: Onion is building a backend as a service software platform for connected devices

Refresh: Refresh is building eco-friendly, cost-effective beverage vending machines.

Sundar: Sundar provides a curated B2B marketplace for apparel and accessories sourcing, by matching suppliers with creative professionals

WorkMob: WorkMob is a partner driven freelance platform, initially targeting the API integration space

00.32 | 0 komentar | Read More

Mass. jobless rate dips, but trails U.S.

Massachusetts added more than 10,000 jobs last month as the unemployment rate dipped slightly, but the gap between the state's and the nation's jobless rate continued to widen.

"We're just staying the same and the U.S. has been going down," said Elliot Winer, former chief economist for Massachusetts and chief economist for the Northeast Economic Analysis Group.

The state unemployment rate was 7 percent last month, down from
7.1 percent in November, according to the Executive Office of Labor and Workforce Development. For the second month in a row, the national rate was lower — 6.7 percent — than the state jobless rate.

Still, the jobs added were a positive sign, Winer said.

"The job numbers are somewhat encouraging, but it's not extraordinary growth," Winer said.

More jobs were added from December 2012 to December 2013 than any other December to December period since 1999, the labor and workforce development office said. The state added 55,500 jobs during that time.

00.32 | 0 komentar | Read More

A million Neiman customer cards hit

The FBI is warning retailers to be on alert for more cyber-attacks involving malicious software used to steal customers' credit and debit card data as luxury retailer Neiman Marcus yesterday disclosed that more than 1 million customers' cards may have been compromised.

A Jan. 17 FBI report describes risks posed by "memory-parsing" malware that's infected companies' point-of-sale systems in about 20 hacking cases in the past year, Reuters reported yesterday.

"We believe POS malware crime will continue to grow over the near term, despite law enforcement and security firms' actions to mitigate it," the FBI report said, according to Reuters. "The accessibility of the malware on underground forums, the affordability of the software and the huge potential profits to be made from retail POS systems in the United States make this type of financially motivated cyber crime attractive to a wide range of actors."

Neiman Marcus disclosed Jan. 10 that hackers may have stolen its customers' credit and debit card information. The company, which has Boston and Natick stores, hasn't yet informed the state how many Massachusetts customers were affected.

As of yesterday, Visa, MasterCard and Discover had notified the Dallas company that about 2,400 cards used at Neiman Marcus and Last Call stores were subsequently used fraudulently, Neiman Marcus Group CEO Karen Katz disclosed in a letter on the company's website. "It appears that the malware actively attempted to collect or 'scrape' payment card data from July 16, 2013, to October 30, 2013," she said.

Target Corp. said last month that the credit and debit card data of up to 40 million customers had been accessed by hackers in a malware attack, and this month said personal information of 70 million customers also was accessed.

Consumers can expect more merchants admitting breaches in the near future, because their Internet protocol addresses, logins and passwords are being sold on the black market, said Dan Clements, president of IntelCrawler, a cyber-intelligence firm.

"It has a level of sophistication where the Target (breach) would not have shocked you," he said. Criminals are advertising them for as little as $25, and throwing in malware already loaded on merchants' systems for $100, according to Clements.

"It's very, very low-risk and a high return," he said. "It's just simple economics."

Herald wire services contributed to this report.

00.32 | 0 komentar | Read More

Panel: Minimum on tax too low

The Gaming Commission is considering asking lawmakers to raise the minimum amount of winnings subject to state tax requirements, arguing that failing to do so could cost the Bay State as much as $58 million in lost revenue by driving gamblers to less restrictive states.

Chairman Stephen Crosby said he would draw up a proposal for the panel's consideration after a majority of commissioners yesterday said they supported raising the $600 threshold.

"In the judgment of our consultants, the amount of money we would gain (in taxes by keeping the $600 threshold) would be less than the money we would lose," Crosby said.

Federal law requires tax forms to be completed on winnings of $1,200 or more for slot machines, and for other types of gambling — such as racing — when the winnings are both $600 or more and at least 300 times the original bet.

Of the 23 states that have commercial gaming, Crosby said, at least 18, including Connecticut and Rhode Island, use either the federal standard or none at all.

"The industry is not crying wolf here," Crosby said of the complaints the commission has received from gaming license applicants. "We are substantially out of step (with other states)."

Commissioner James McHugh, however, said he does not favor raising the threshold to $1,200.

"I just have difficulty catering to people who don't like paying taxes," he said.

But Richard McGowan, a Boston College professor who has written extensively about gaming, said Massachusetts' threshold is "unnecessarily low."

"To have to start declaring your winnings on the spot is going to discourage a lot of people," he said.

00.32 | 0 komentar | Read More

The Ticker

Credit Suisse buys 400 Atlantic Ave.

Investment bank Credit Suisse bought 400 Atlantic Ave. in Boston for $50 million from New York's Colonnade Properties, according to Registry of Deeds documents filed this week. The law firm Goulston & Storrs is the sole tenant in the 99,749-square-foot office building. "We have a 10-year lease that we just re-upped, so we have no plans to move anywhere," spokesman Jeff Scalzi said.

Rhode Island Assembly urged to pass 38 Studios settlement bill

The lawyer for the Rhode Island economic development agency that is suing Curt Schilling over its failed investment in his video game company said yesterday that passing proposed legislation encouraging out-of-court settlements will help maximize any potential financial recovery.

The agency is suing the former Red Sox pitcher and 13 others after 38 Studios went bankrupt. The agency was responsible for a $75 million loan guarantee given to the company. The bill under consideration would shield any party that settles with the state from a lawsuit filed by a co-defendant over damages that co-defendant is found liable for.

Starbucks sales cool off

Starbucks Corp. yesterday reported that sales at established stores in its U.S.-dominated Americas region cooled more than analysts expected in its latest quarter as consumers spent more time holiday shopping online than at physical stores. Global sales at Starbucks cafes open at least 13 months were up
5 percent, versus analysts' average estimate for a
5.9 percent rise, according to Consensus Metrix.

Today

 Procter & Gamble and Samsung Eletronics report quarterly financial results before the market opens.

THE SHUFFLE

Wayfair, the largest online retailer of home furnishings and decor, appointed Christiane Lemieux, above, as executive creative director. In her new role, Lemieux will provide creative vision and counsel across the company's growing portfolio of home brands including Wayfair.com, AllModern, Joss & Main and DwellStudio.

 General Catalyst Partners, a Cambridge, Palo Alto, Calif., and New York-based venture capital firm that makes early stage equity investments, has named Donald Fischer as its newest venture partner. In this role, Fischer will identify and lead investments in early stage enterprise companies.

00.32 | 0 komentar | Read More

It takes a Village to raise a neighborhood

The district around the Broadway T station in Southie,­ once home to Whitey­ Bulger's Triple O's, used to be called the Lower End and more recently was considered part of the neighborhood's expansive West Side.

But the triangle along Dorchester Avenue and West Broadway up to A Street has undergone massive changes in the past decade and now a new name for the mini-district is gaining traction — Broadway Village.

If it sounds pretentious, it's not intended to be. Twelve years ago this area between the Broadway and Fourth Street bridges was primarily an industrial district. Bordered by Gillette on one side, nearby was the empty Court Square Press printing plant, a shuttered Sts. Peter & Paul Catholic Church and the closed Cardinal Cushing High School, mixed in with local hangouts such as the Cornerstone, Mul's Diner, Amrheins and the Quiet Man Pub. But there were also ramshackle auto garages, gas stations and empty lots.

Now there are hundreds of high-end condos — including those at the rehabbed church and printing press — and several new luxury apartment complexes. There's a Franklin Cafe, a Stephi's restaurant and, yes, a Starbucks. A plan for an upscale 14-story boutique hotel has been OK'd, on the site of a former gas station, a 160-unit residential project at A and West Third Streets in on the table, and there's rumors that the Cornerstone site may soon host more upscale housing.

Whoever came up with the Broadway Village name hasn't come forward. It was one of a number of suggestions sent to an email address on a billboard atop the now-demolished Quiet Man Pub that said "This corner needs a name."

"The area has changed so much" said Southie resident Dom Lange who put up the sign, and has sold real estate here for 12 years. "It deserved a new name."

Broadway Village was chosen by more than 50 percent of some 200 people who voted on a new neighborhood name on a subsequent online poll.

"I would have preferred something edgier, but I like Broadway Village," said Bill Gleason, president of the West Broadway Neighborhood Association, who bought a condo here 12 years ago. "Everything we've done here has been about making this area feel more like a residential village."

Gleason said truckers used to come over the bridges and dump trash and empty ashtrays in the streets.

"It's been about changing the mindset of what this area is now," Gleason added. "The name seems to be sticking."

But not everyone likes it. John Libonati, co-owner of Social Wines, an upscale liquor store that opened in the area several years ago, isn't having it.

"I don't like the name Broadway Village. It makes the area feel small," said Libonati, who said he'd prefer the acronym WEBR for West Broadway. "But I don't think this area needs to be renamed. It's South Boston, that's what I tell my cus­tomers."

Michael LeBlanc, an architect designing a high-end rental project at 22-26 West Broadway, uses the moniker, while acknowledging that rebranding efforts usually come from realtors trying to add value.

"But it can be a healthy way for people to ID their neighborhood and capture the spirit of a place" LeBlanc said.

He added that sometimes neighborhood names change because people want to forget. The Lower End calls up the era of Bulger and of a ramshackle district where residents were lower on the economic and social scale.

The area's new residents are more affluent and Whitey's old haunt at 28-30 West Broadway is on the market for $3.9 million.

"I hear more people using the name," said Lange, who named his new brokerage Broadway Village Real Estate. "We're not trying to impose it on people. If it sticks it's because the residents like it and that's good. If it doesn't, well that's OK too."

00.32 | 0 komentar | Read More

Beloved ‘Chet and Nat’ shared spotlight

Chet and Nat.

They were a TV news anchor match made in heaven.

Natalie Jacobson yesterday shared some kind words about her former husband Chet Curtis in a statement she read to the Herald. Curtis died Wednesday night at age 74 of pancreatic cancer.

"Chet and I shared a wonderful time as partners on television and in life — and have a beautiful daughter 
together who was married last June. Thankfully, Chet was well enough to be there. I will think of happy times even while 
being very sad that his life 
ended so soon."

In a tearful interview with Jack Harper on WCVB-TV 
(Ch. 5), Jacobson said Curtis "loved what he did, as I did, and I think that's one of the reasons
he and I worked so well together."

The married duo anchored WCVB's nightly news for nearly two decades beginning in 1982. Boston TV viewers adored them.

"He was my life partner and my work partner," Jacobson said during the WCVB interview, "and it was a wonderful marriage on both fronts for a long time."

After they split up, Curtis left the station in 2001 to take a job at New England Cable News. Jacobson said the divorce was "very hard," saying: "I thought we'd be married forever."

Jacobson couldn't hold back the tears. "I'm grateful for the years we had," she told WCVB. "I'm grateful for the three children. I'm sad Chet died early, 
I really am."

In an online story on Channel 5's website, Jacobson talked about their TV reign.

"We were so fortunate, and we realize we were, to live in the genesis of television."

And they couldn't wait to get to work in the morning.

"What you see is what you get," she told WCVB. "We never felt like we were acting. It was comfortable, it was honest."

And Curtis, Jacobson said, "lived life to the fullest."

00.32 | 0 komentar | Read More