Skechers to Pay $45 Million to Settle Advertising Charges
The Federal Trade Commission announced Wednesday that Skechers USA agreed to pay $40 million to settle charges that it deceived consumers by “making unfounded claims that Shape-ups would help people lose weight, and strengthen and tone their buttocks, legs and abdominal muscles.”
Finance News
Will Adult Children Have to Pay Mom's Nursing Home Costs?
A Pennsylvania state appeals court has ruled that the adult son of a nursing home resident is responsible for her unpaid $93,000 bill. And the decision has some elder care lawyers wondering if this is just the beginning of a trend.
Celebrity Entrepreneurs on the Rise?
Whereas once upon a time a celebrity lending his or her recognition to further a product was called a sell-out, today getting behind a product and using one’s fame to help it along is called entrepreneurship. And rightly so. The kind of active investment we’re seeing from celebrities like 50 Cent, Ashton Kutcher, Sean Combs and Leonardo DiCaprio is marked by market research, personal engagement in the product and an ownership stake. Sure, a lot of these glitzy moguls-in-the-making have business managers and research teams, but compare their entrepreneurial endeavors to what they could be doing – renting out their likenesses to underwear ads – and you’ve got to admit they are a little bit more engaged.
The Five W's Of Bad Investing Behavior
Investors are prone to making irrational decisions. The simple truth is that what feels good, or what satisfies an immediate impulse, is not always compatible with generating positive, long-term returns.
Daily Wrap: 5/16/2012
The markets were higher this morning, bolstered by some encouraging economic news, but fell back into negative territory later in the day, despite comments made by German Chancellor Angela Merkel saying she wants Greece to stay in the euro zone.
Analyst Moves: BCS, GRPN
Barclays (BCS) was upgraded today by UBS (UBS) from neutral to buy with a price target of $13.85, as the firm believes that the stock is attractive at current price levels.
In the summer of 1954, four hundred wealthy businessmen were invited to hear about a joint venture proposal. Hands were shaken, coffee was served and for the next few hours, behind closed doors, P & L statements likely the future of how this venture would play out.
History would show that this was one of the sweetest deals ever offered in business and those that embraced this idea would make thousands of times their original investment ... all that joined the venture would make millions.
This was not a naive group of wet-behind-the ears dreamers, awestruck by the thought of sudden riches, or easily swayed by emotion.
No, this was a hard-nosed bunch, used to to dealing with bankers and politicians.
Here were the captains of their industry, being offered the deal of a lifetime. Their reaction is what is fascinating. How many jumped at the deal?
How many of those original 400 had the foresight to run with this deal ... and beat out the competition?
As it turns out, exactly three.
The creator of this idea - ever the businessman - understood; "After all," he says, "all we were offering them was a name, a set of plans, and a dream!"
A name, a set of plans, and a dream... The deal was a simple one: $500 down and about $5 per day was all they had to pay for the rights to use a name and a set of plans ... to make the dream of a lifetime come true.
Who were this businessman and what was he selling?
You may not recognize his name but you certainly know his company. Today, it is one of the most recognized brand names in the world.
Side Note: Within three years this company went public with a $3.9 million stock offering and suddenly, everyone wanted in on the deal.
Those that didn't jump on board wound up standing in a long line, waiting their turn.
Who was this guy?
Opportunity: "...Opportunity comes often, it knocks as often as you have an ear trained to hear it, an eye trained to see it, a hand trained to grasp it, and a head trained to use it."
This quote is from "Twenty Tips for Success", founder Holiday Inn, America's Innkeeper.
In 1951, Kemmons Wilson was on vacation with his family and became disgusted by the motels of the era that charged $2 extra for children, "We have five kids, so our $6 room became a $16 room," he said. One year later, he opened his first Holiday Inn where children could stay for free and families were assured of consistently clean, safe, rooms. Very soon, Holiday Inn setup the first nationwide motel computer reservations network and then, everyone wanted in on the deal.
"From that point on it wasn't a question of trying to sell franchises - it was a question of allocating them."
The important point [call it the secret] from this meeting?
Really, there are two important lessons. First, when the risk is small - don't hesitate. In this case; $500 for the use of the Holiday Inn name plus five cents per room per day - about $5 a day on a 100 room motel - was a minute allowance compared to what investors made on this deal.
But the biggest reason for Holiday Inns' success was a risk taker founder, backed by hard working no nonsense franchisees that were willing to invest millions in the first nationwide computer suspicions network.
A centralized computer system was something that the rest of the lodging industry didn't have at the time. At that time the opposition was a bunch of small independently owned roadside motels too small and scared to make the major investment needed to win ... so they lost and the people that joined Mr. Wilson became very big winners.
So, the biggest [secret] from this meeting? When you are first to the market with a new technology backed by people that won't "give up", then don't be afraid to take a risk and go for it!
For more useful tips & hints, please browse for more information at our website:-
http://www.joint-ventures-secret.com
