2012年11月16日星期五
Cassel to get started upon qb suitable to receive chiefs as opposed to bengals
Cassel to get started upon qb suitable to receive chiefs as opposed to bengals
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2012年9月18日星期二
Bill Gates: My New Model For Giving
As the keynote speaker at the Forbes 400 Summit on Philanthropy this June,Bill Gates took the podium at the event’s dinner at New York‘s Rubin Museum, and gave what portended to be a historic speech. In his talk, in front of 161 billionaire and near-billionaires who had come together for a full day to try to help solve the world’s most intractable problems, Gates laid out a vision for “catalytic philanthropy” — creating markets, using capitalistic approaches, to help the needy in long-term, systemic ways.
Gates turned his talk into an essay, which appears in the October 8, 2012 issue of Forbes. It is my pleasure to publish it, as well as a video of his speech. below:
By Bill Gates
I am a true believer in the power of capitalism to improve lives. Where the free market is allowed to operate, it is agile and creative. It can meet demand the world over and plays a central role in increasing living standards.
But when my wife, Melinda, and I made our first trip to Africa in 1993, it was really our first encounter with deep poverty, and it had a profound impact on us. Not long after we returned we read that millions of poor children on that continent were dying every year from diseases that, essentially, nobody dies from in this country: measles, malaria, hepatitis B, yellow fever. Rotavirus, a disease I had never even heard of, was killing half a million kids each year–none of them in the U.S.
We assumed that if millions of children were dying, there would be a massive worldwide effort to save them. But we were wrong. While the private sector does a phenomenal job meeting human needs among those who can pay, there are billions of people who have no way to express their needs in ways that matter to markets. And so they go without. And while private markets foster many stunning innovations in medicine, science and technology, the private sector still under-invests in innovation–dramatically. There are huge opportunities for innovation that the market ignores because those taking the risk capture only a small subset of the returns.
Innovations for the poor suffer from both of those market limitations. The market is not going to place huge bets on research when there are no buyers for a breakthrough. This explains why we have no vaccine for malaria today, even though a million people die from it every year.
In this gap government plays an important role. It can offer services where the market does not and thus provides a safety net. To some extent it also fills in where the market leaves off in funding innovation. Medical research at the National Institutes of Health is a great example. But government faces its own obstacles to funding innovation. It generally does not take the long view, because election cycles are short. Government is averse to risk, given the eagerness of political opponents to exploit failures. Unlike the private market, government is good not at seeding numerous innovators but at backing only the ones that make progress.
So when you come to the end of the innovations that business and government are willing to invest in, you still find a vast, unexplored space of innovation where the returns can be fantastic. This space is a fertile area for what I call catalytic philanthropy.
Catalytic philanthropy has the high-stakes feel of the private market but can transcend the key market limitations above: The investor doesn’t need a share of the benefits–those go to poor people or sick people or society generally, all of whom stand to gain earth-shaking returns from the kind of innovations that business and government likely won’t pursue unless philanthropy goes first. And once you’ve found a solution that works, catalytic philanthropy can harness political and market forces to get those innovations to the people who need them most.
That has been our foundation’s approach in supporting research, manufacture and delivery of vaccines for childhood diseases. As Melinda and I became more involved, we found that some critically needed vaccines were just sitting on shelves while other vaccines were not being manufactured at all. For the first time in our lives we were working in a world beyond the reach of market forces.
Philanthropy’s role is to get things started. We used foundation funds to set up a system to make market forces work in favor of the poor, guaranteeing purchases so drug companies could make a little bit of money or at least not lose their shirts. As the value of this approach became clearer, governments put in money to add to the market incentives, and some drug companies began to factor poor-world diseases into their business model. In both research and delivery, well-targeted philanthropic money triggered action from business and government. Since 2000 this catalytic philanthropy partnership has immunized more than 250 million children and prevented more than 5 million deaths. We may even see a malaria vaccine in 2015.
Melinda and I have the honor and the responsibility to return to society, in the best way we know how, the resources we have received. But you do not need to be the chair of a large foundation to have an impact on the world.
Risk takers need backers. Good ideas need evangelists. Forgotten communities need advocates. And whether your chief resource is volunteer time or hard-earned dollars, for a relatively small investment catalytic philanthropy can make a big impact. For me it’s proven the best job in the world, as thrilling and humbling as anything I’ve ever done.
Bill Gates, the chairman of Microsoft, is the cochair of the Bill & Melinda Gates Foundation.
2012年9月12日星期三
The NFL New Face
With sweat and smarts, Pakistan-born Shahid Khan built a $3.4 billion manufacturing juggernaut from the ruins of an Illinois auto parts maker. To celebrate, he just bought one of the worst teams in the NFL, with the pledge of a similar turnaround. Only in America, folks.
Credit: Jon Fletcher For Forbes
Driving down a dusty back road in Danville, Ill., Shahid Khan narrates the fall of American manufacturing. “The Allith-Prouty plant closed there. That was 1,400 jobs,” he says, pointing out boarded-up buildings on our left. Some 300 people used to work at the welding plant next door. “Gone,” he shrugs. Another 7,000 or so were lost when Hyster trucks closed shop.
As we pass more dilapidated warehouses and bulldozed dreams—800 jobs lost at the mill around the corner, 1,200 across the way—we seem like tourists in an industrial wasteland, the ruins of a manufacturing golden
age, with crumbling Danville playing the role of Pompeii or Luxor, although those ruins might be better preserved, Khan notes with a rueful smile. “Around you, right now, I can count 30,000 jobs that just disappeared,” he says, shaking his head.
With flowing black hair and the thick handlebar mustache of a man used to leaving a lasting impression, the 62-year-old Khan, driving a shiny white Grand Cherokee, is a swashbuckling contrast to the desolation around him. While Danville and the rest of the Rust Belt were deteriorating over the last 40 years, Khan was moving in exactly the opposite direction. The sole owner and CEO of Flex-N-Gate, he built one of the biggest automotive parts suppliers in North America almost from scratch from his headquarters just 35 miles away and now employs more than 13,000 people at 52 factories around the globe. Sales reached $3.4 billion in 2011. FORBES estimates his net worth at $2.5 billion, placing him in the top half of the soon-to-be-released 2012 Forbes 400.
An enormous accomplishment for anyone, it’s more like a Mars landing for a middle-class kid from Pakistan who flew into Illinois for an engineering degree at 16 and never left. Khan’s is the kind of only-in-America success story that has filled boats and planes with dreamers for the past 150 years, one that gives a face to an ironclad fact: Skilled, motivated immigrants are proven job creators, not job takers.
Khan’s American Dream continued this January, when he purchased the NFL’s Jacksonville Jaguarsfor $770 million. In so doing, he became the first ethnic-minority owner in a league synonymous with cheerleaders and tailgate parties, Thanksgiving grudge matches and that most secular of U.S. holidays, Super Bowl Sunday. Buying into the NFL, he says, was a statement about the opportunity America offers.
entrepreneurialism. The Jags are to football what Rust Belt manufacturing has been to U.S. industry: the financially challenged, least popular team in a league otherwise envied around the world. A mere 0.4% of NFL fans in a recent ESPN poll cited the Jaguars as their favorite franchise, ranking them dead last out of 32. (Recent headline in The Onion : “New Commercial Posits Existence of Jaguars Fans.”)
Credit: Jon Fletcher For Forbes
They have the fourth-smallest market in the league, with just 1.4 million people in the Jacksonville metro area. They haven’t had a winning season since 2007, nor won their division since 1999, nor been to the Super Bowl, ever. And they play in a cavernous stadium, 76,877-seat EverBank Field, which Mark Lamping, the Jags’ new team president, describes as “a church built for Easter Sunday,” which in this college-football-crazed region means the annual game between the University of Florida and the University of Georgia. Filling a stadium that size every other Sunday might be simple in New York or Dallas, but it’s proved nearly impossible in northern Florida. In 2005 the Jaguars surrendered, covering nearly 10,000 upper-deck seats with tarps, but they still had trouble selling out, resulting in local television blackouts, which suppressed fan interest even more.
But now they have Shahid Khan, who knows how to find the bright side in a dismal situation—and says he has a plan.
2012年9月10日星期一
NFL Billionaire Owners.
NFL Billionaire Owners
With a few new additions since last year, 18 NFL owners now boast
Paul Allen
Seattle Seahawks
$15 billion
The Microsoft co-founder could conceivably own about a third of the NFL if he chose to.
$15 billion
The Microsoft co-founder could conceivably own about a third of the NFL if he chose to.
Stephen Ross
Miami Dolphins
$4.4 billion
Self-made real estate mogul has tried to stir excitement in the Dolphins by selling small stakes to celebrities like Marc Anthony and the Williams sisters.
$4.4 billion
Self-made real estate mogul has tried to stir excitement in the Dolphins by selling small stakes to celebrities like Marc Anthony and the Williams sisters.
Stan Kroenke
St. Louis Rams
$4 billion
A sports tycoon who also carries stakes in the Colorado Avalanche, Denver Nuggets and European soccer club Arsenal.
$4 billion
A sports tycoon who also carries stakes in the Colorado Avalanche, Denver Nuggets and European soccer club Arsenal.
Malcolm Glazer
Tampa Bay Buccaneers
$3.6 billion Plucked Rutgers University coach Greg Schiano to breathe some life into the Bucs, who finished in the NFL’s bottom three in attendance the past two years.
$3.6 billion Plucked Rutgers University coach Greg Schiano to breathe some life into the Bucs, who finished in the NFL’s bottom three in attendance the past two years.
Jerry Jones
Dallas Cowboys
$2.7 billion Say what you want about Jones, but the Cowboys have won three titles and opened a $1.2 billion stadium on his watch.
$2.7 billion Say what you want about Jones, but the Cowboys have won three titles and opened a $1.2 billion stadium on his watch.
Shahid Khan
Jacksonville Jaguars
$2.5 billion Auto parts man became joined the club when he
$2.5 billion Auto parts man became joined the club when he
purchased the Jaguars in January, almost two years after he lost out on the Rams to Kroenke.
Robert Kraft
New England Patriots
$2.3 billion Funded Gillette Stadium with $350 million of his own money.
$2.3 billion Funded Gillette Stadium with $350 million of his own money.
Robert McNair
Houston Texans
$1.8 billion Quickly turned the expansion Texans into one of the NFL’s most valuable teams, thanks mainly to a lucrative naming rights deal with Reliant Energy.
$1.8 billion Quickly turned the expansion Texans into one of the NFL’s most valuable teams, thanks mainly to a lucrative naming rights deal with Reliant Energy.
Steve Bisciotti
Baltimore Ravens
$1.6 billion Baltimore native made his fortune in the staffing business, allowing him to buy his hometown team in 2000.
$1.6 billion Baltimore native made his fortune in the staffing business, allowing him to buy his hometown team in 2000.
James Irsay
Indianapolis Colts
$1.5 billion Made most of his fortune through the team, as the Colts value grew after Irsay inherited them from his father Robert.
$1.5 billion Made most of his fortune through the team, as the Colts value grew after Irsay inherited them from his father Robert.
Arthur Blank
Atlanta Falcons $1.5 billion Home Depot co-founder is trying to get the Falcons out of the Georgia Dome and into a new stadium. Talks appear slow but moving.
.......more
Dallas Cowboys Lead NFL With $2.1 Billion Valuation
The most famous quote attributed to legendary Green Bay Packers coachVince Lombardi is “winning isn’t everything, it’s the only thing.” But if Lombardi had coached in this era instead of the 1960s he may have substituted the word “marketing” for “winning.”
The Dallas Cowboys have not been to the Super Bowl in 16 years. But the lack of a title game appearance has done nothing to slow down the money that flows into the arms of Jerry Jones, the oilman who bought the National Football League team and lease to its stadium in 1989 for $150 million. The Cowboys are now worth $2.1 billion, more than any sports team on the planet, save Manchester United. And if the English soccer club, which recently sold shares to the public, stumbles, the Cowboys will run right past them because nobody in football can match Jones when it comes to marketing and squeezing cash from a stadium.
Last season the Cowboys generated $500 million in total revenue, a record for an American sports team, and posted operating income (earnings before interest, taxes, depreciation and amortization) of $227 million, $108 million more than any other football team and more than either the entire National Basketball Association or National Hockey League. A prime example of what separates Dallas from the league’s other 31 teams is the more than $80 million in sponsorship revenue Cowboys Stadium rakes in from companies such as Ford Motor, Bank of America, PepsiCo, Dr. Pepper and Miller Brewing, almost $20 million more than any other football team. Sponsorship revenue, unlike the NFL’s national television fees with NBC, Fox, ESPN and CBS, are not shared equally with the other teams.
The financial dominance of the Cowboys began in the 1990s when the NFLsued Jones over the right of the Cowboys to ink licensing deals with Nike and Pepsi that competed directly with the league-wide sponsorship agreements (which each team in the league gets an equal share) with Coca-Cola and Reebok. When the suits were resolved with a legal distinction separating National Football League Properties and the Cowboys brand from Jones and Texas Stadium, the oilman was off to the end zone.
Another coup for the Cowboys, who are the only team in the NFL to distribute their own merchandise: The league’s new collective bargaining agreement, which began last season, specifically excludes the team’s wholesale merchandise revenue, projected to be $80 million last year, from the revenue pool shared with the players (royalties paid on Cowboys merchandise do continue to be shared with the players).
Over the past two decades Jones has done a masterful job of having the Cowboys brand resonate nationwide with fans. The Cowboys are the only team to be featured on HBO’s sports reality television show, Hard Knocks, twice. An ESPN poll found that the Cowboys are the most popular team in football, and as reported in SportsBusiness Daily, were third in merchandise sales last season behind the defending Super Bowl champion Packers and Pittsburgh Steelers, who lost to the title game to Green Bay in 2010 and captured the Lombardi Trophy in 2008 and 2005.
As a result, even low-revenue and badly run teams have delivered big returns for their owners. Wayne Weaver paid $208 million for the expansion Jacksonville Jaguars in 1993. The small-market Jaguars have never been to the Super Bowl and have made it to the postseason only twice since 1999. In January billionaire Shahid Khan paid $770 million for the team. The Cleveland Browns have lost 67% of their games and have qualified for the postseason just once since the late Al Lerner paid $530 million for the team in 1998. His son Randy is in the process of selling the Browns to James Haslam, an investor in the Steelers, for $987 million. (Note: Most of the media, likeESPN, have reported the purchase price to be in excess of $1 billion, ignoring the time value of money. The sale document presented to the NFL for approval applies a 5% discount rate to the money Haslam is going to pay Lerner in the future to complete the deal, bringing the present value of the purchase to $987 million.)
Overall, business was good for the NFL under the first year of its new CBA, which gives players roughly half of the league’s revenue and owners long-term cost-certainly. The average NFL team is now worth $1.1 billion, 7% more than last year (our team valuations are enterprise values based on multiples of revenue). The two teams that rose the most in value were the Minnesota Vikings (22%) and San Francisco 49ers (19%) as both teams secured financing for new stadiums. On average, revenues increased 6% during the 2011 season, to $276 million per team. Meanwhile, operating income averaged $41 million a team compared with $31 million during the 2010 season, in part because selling and administrative expenses were flat, and player costs (salaries, bonuses, insurance) increased just 4%.
The new CBA will help team values increase because it encourages revenue growth. Says Marc Ganis, president of Sportscorp, “Disincentives for investment and growth have been removed with the new CBA due to how revenue is calculated because players are getting a higher percentage (55%) of the high-margin (low-risk for owners) national television revenue and lower percentage (40%) of the low-margin (high-risk for owners) local revenue (tickets, suites, stadium advertising) that cost more to generate .”
The new CBA will help team values increase because it encourages revenue growth. Says Marc Ganis, president of Sportscorp, “Disincentives for investment and growth have been removed with the new CBA due to how revenue is calculated because players are getting a higher percentage (55%) of the high-margin (low-risk for owners) national television revenue and lower percentage (40%) of the low-margin (high-risk for owners) local revenue (tickets, suites, stadium advertising) that cost more to generate .”
In other words, the new CBA is suited perfectly for owners as entrepreneurial as Jerry Jones.
The List:
Click here to see more of the NFL’s Most Valuable Teams.
2012年9月7日星期五
Unforgettable wedding ！！！！
Jarrett, along with his father and all of his groomsmen, enjoyed a few drinks at their home on the North Side. There is nothing better than members of the bridal party that can make everyone laugh consistently, and as you might see from the photographs, that was not an issue!
After a wonderful ceremony in one of Pittsburgh’s most beautiful churches, the festivities began in grand style at The Pennsylvanian with the entrances. You know it will be a great reception when even the parents enter the room dancing and throwing their arms around! This party was one that never slowed down and the energy in the room was palpable. Whether it was the groomsman spontaneously singing to Jarrett and Amanda, the happy couple bucking tradition by throwing the garter and bouquet at the same time, or guests being spun around wildly on the dance floor, it was a party to remember!
On top of it all, the baseball fans in at the reception were treated to meet former baseball start Pete Vukovich (you also might remember him as New York Yankees fictional slugger Clu Haywood in the movie Major League). Vucovich is a family friend from Johnstown, Pennsylvania. Amanda and Jarrett, we had a fantastic time with you and we wish you all the best in your future together! Congratulations again!!
www.jerseyslord.com
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