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marmar

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Gender: Male
Member since: Fri Oct 29, 2004, 12:18 AM
Number of posts: 69,967

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Google Growing on Fumes: Something Is Rotten in the State of Online Advertising


Google Growing on Fumes: Something Is Rotten in the State of Online Advertising
by Sarunas Barauskas • May 3, 2016


We’re living in the last months of the online advertising bubble.

By Sarunas Barauskas, co-founder at Kalkis Research:


A couple of months ago, I was going through Google’s newly released 10-K filing. The night before, we had had an argument with Philippe, the other co-founder of our start-up, about how ad dollars were fueling a new kind of economy. We realized we had no clue of who was making money, by what means, or how much. I just wanted to understand.

What mesmerized me were the sheer amounts of cash Google (ehm, Alphabet) was raking in: $75 billion dollars in revenue for 2015. For 2016, they’re set to generate as much as the GDPs of Lithuania, Latvia and Estonia put together. That’s six million people.

Another thing that was weird: how vague Google was about how they actually made all this money.

Their main metric, the cost per click (CPC), was a nonsensical aggregation of a wide array of user actions, from a click on an ad that could be worth as much as a few hundred dollars, to a video ad that wasn’t dismissed quick enough, an for which the advertising company would be charged a fraction of a penny.

Their SEC filings were full of statements about how Google was revolutionary and unique. They would go to extreme lengths to describe various non-essential parts of their business. But there was very little of actually useful information about the way online advertising worked. After all, it’s only the source of 90% of their revenue. .................(more)

http://wolfstreet.com/2016/05/03/google-grows-on-fumes-online-advertising-ad-exchanges-fraud-ineffective-ads/




"The Assassination Complex": Jeremy Scahill & Glenn Greenwald Probe Secret US Drone Wars in New Book




Published on May 3, 2016

http://democracynow.org - As the Obama administration prepares to release for the first time the number of people it believes it has killed in drone strikes in countries that lie outside of conventional war zones, we look at a new book out today that paints a very different picture of the U.S. drone program. "The Assassination Complex: Inside the Government’s Secret Drone Warfare Program" is written by Jeremy Scahill and the staff of The Intercept, and based on leaked government documents provided by a whistleblower. The documents undermine government claims that drone strikes have been precise. Part of the book looks at a program called Operation Haymaker in northeastern Afghanistan. During one five-month period, nearly 90 percent of the people killed in airstrikes were not the intended targets. The book is based on articles published by The Intercept last year. It also includes new contributions from NSA whistleblower Edward Snowden and The Intercept’s Pulitzer Prize-winning journalist Glenn Greenwald. We speak with Jeremy Scahill and Glenn Greenwald.



Detroit: M-1 Rail Center Debut Marks Milestone for QLINE




MI: M-1 Rail Center Debut Marks Milestone for QLINE

Eric D. Lawrence On May 3, 2016
Source: McClatchy


May 03--Racing references were in vogue as the Penske Technical Center officially opened today as a key milestone in the construction of Detroit's streetcar line.

Noting that "we never took our hands off the wheel," facility namesake Roger Penske, who also chairs the M-1 Rail board, described the journey to date and the development potential the streetcar brings to Detroit.

The 3.3-mile line, now known as the QLINE, is under construction, but is supposed to be operational next year.



.....(snip).....

U.S. Rep. Debbie Dingell, D-Dearborn, said the rail line should be a catalyst for regional transportation. Mayor Mike Duggan said he marvels at the redeveloped buildings along Woodward, saying "the rail line is it."

The Penske Tech center, at Woodward and Bethune, is at the end of the line in the city's North End neighborhood. The 19,000-square-foot building cost $8 million and will function as a storage and maintenance facility and "car barn" for the QLINE cars. It already houses the offices for M-1 Rail, the organization overseeing operations and construction.

Inside, the block walls are painted a crisp white, the floor has a standard garage-floor gray and railings and other trim feature a bright yellow. It has three bays -- one for washing the cars, one for undercarriage work with a 6-foot deep pit and one with a catwalk and 2 ton crane that slides along a candy cane-shaped track for upper-level jobs. That crane can move the equipment and parts into and out of a large storage area on the building's second-floor, according to Rick Evans, project manager and superintendent for contractor Detroit-based Turner Construction. ............(more)

http://www.masstransitmag.com/news/12203024/m-1-rail-center-debut-marks-milestone-for-qline




This is Why No One Should Bail Out the “Smart Money” Stuck in Brick-and-Mortar Retailers.......


This is Why No One Should Bail Out the “Smart Money” Stuck in Brick-and-Mortar Retailers: Let them Shed their Own Tears
by Wolf Richter • May 3, 2016


The toxic Safeway-Albertsons combo is waiting in the wings.

Late yesterday, Fairway Group Holdings, parent of Fairway Market – an “iconic New York food retailer,” as it calls itself, that had started out as a “veggie stand” in 1933 and now lists 18 stores on its website – crumpled under a pile of debt and filed for a prepackaged Chapter 11 bankruptcy. Almost exactly three years after its IPO!

Bankruptcy rumors have been swirling for a while. The company announced in February that it would need to raise capital in order to keep its doors open. April 15, Bloomberg reported that the company was negotiating a debt restructuring with its creditors, and that a deal was near for a prepackaged Chapter 11 filing.

When the company did file yesterday, it stated that it wanted to “eliminate” $140 million senior secured debt. In return, these creditors would get common equity and $84 million of new debt of the reorganized company.

All of the currently outstanding shares will be cancelled. Screw those who’d bought them. They should have known better. That was the message.

It was no surprise, except perhaps for the penny-stock jockeys dabbling in its shares: today, FWM plunged 62%, from 21 cents a share to 8 cents a share. They’ll plunge 100% from here to zero.

As in so many cases when investors get wiped out, there’s a private-equity angle to it. .................(more)

http://wolfstreet.com/2016/05/03/fairway-group-bankruptcy-pe-firms-stuck-in-brick-and-mortar-retailers-albertsons-safeway-ipo/





Google Growing on Fumes: Something Is Rotten in the State of Online Advertising


Google Growing on Fumes: Something Is Rotten in the State of Online Advertising
by Sarunas Barauskas • May 3, 2016


We’re living in the last months of the online advertising bubble.

By Sarunas Barauskas, co-founder at Kalkis Research:


A couple of months ago, I was going through Google’s newly released 10-K filing. The night before, we had had an argument with Philippe, the other co-founder of our start-up, about how ad dollars were fueling a new kind of economy. We realized we had no clue of who was making money, by what means, or how much. I just wanted to understand.

What mesmerized me were the sheer amounts of cash Google (ehm, Alphabet) was raking in: $75 billion dollars in revenue for 2015. For 2016, they’re set to generate as much as the GDPs of Lithuania, Latvia and Estonia put together. That’s six million people.

Another thing that was weird: how vague Google was about how they actually made all this money.

Their main metric, the cost per click (CPC), was a nonsensical aggregation of a wide array of user actions, from a click on an ad that could be worth as much as a few hundred dollars, to a video ad that wasn’t dismissed quick enough, an for which the advertising company would be charged a fraction of a penny.

Their SEC filings were full of statements about how Google was revolutionary and unique. They would go to extreme lengths to describe various non-essential parts of their business. But there was very little of actually useful information about the way online advertising worked. After all, it’s only the source of 90% of their revenue. .................(more)

http://wolfstreet.com/2016/05/03/google-grows-on-fumes-online-advertising-ad-exchanges-fraud-ineffective-ads/





Are Smartphones Doomed to the Same Fate as Personal Computers?


(Bloomberg) The smartphone market has stopped defying gravity.

After almost a decade of turbocharged sales, the $423 billion industry can no longer count on consumers to robotically upgrade their handsets, putting at risk the fat margins and steady revenue growth long envied by the rest of the hardware sector.

Signs of a sputtering market have been brewing for months, but spilled into the open last week when Apple Inc. reported its first quarterly sales decline in 13 years. Chief Executive Officer Tim Cook acknowledged on April 26 that -- nine years after the iPhone’s game-changing debut -- the market had “stopped growing.” The next day, research firm Strategy Analytics reported a 3 percent drop in first-quarter smartphone shipments, the first decline ever.

“You couldn’t help but wonder how long the party could go,” said David Hsu, a management professor at the University of Pennsylvania’s Wharton School who tracks the market. .................(more)

http://www.bloomberg.com/news/articles/2016-05-04/are-smartphones-doomed-to-the-same-fate-as-personal-computers




California: More Than One-Third of Bay Area Residents Ready to Leave


CA: More Than One-Third of Bay Area Residents Ready to Leave

George Avalos On May 3, 2016
Source: McClatchy


May 02--More than one-third of Bay Area residents say they are ready to leave in the next few years, citing high housing costs and traffic as the region's biggest problems, according to a poll released Monday.

Of the 1,000 people polled by the Bay Area Council, 34 percent said they are considering leaving. Those who have lived here five years or less are the most likely to want to leave.

"This is our canary in a coal mine," said Jim Wunderman, president of the Bay Area Council. "Residents are screaming for solutions."

In another grim result, the number of residents who believe the region is on the wrong track has increased sharply in the past year, the poll found.

This year's poll found that 40 percent of respondents felt the Bay Area was on the wrong track, while 40 percent felt it was headed in the right direction. Just one year ago, only 28 percent felt the Bay Area was on the wrong track, and 55 percent thought it was headed in the right direction. ................(more)

http://www.masstransitmag.com/news/12202538/one-third-of-bay-area-residents-hope-to-leave-soon-poll-finds




Charlie Munger says we're starting to look (economically) like Japan, and that could be trouble


Berkshire Hathaway Vice-Chairman Charlie Munger said Monday the U.S. is looking more like Japan given the prolonged low-interest-rate environment.

"I strongly suspect it was massively stupid for our government to rely so heavily on printing money and so lightly on fiscal stimulus and infrastructure," Munger told CNBC's "Squawk Box."

Japan has struggled mightily to come off its economic funk and, earlier this year, in an unprecedented move the Bank of Japan implemented negative interest rates.

"It surprised all the economists of the world," Munger said. ...............(more)

http://www.cnbc.com/2016/05/02/charlie-munger-says-were-starting-to-look-like-japan-and-that-could-be-trouble.html




Reassessing American ‘Heroes’


from Consortium News:


Reassessing American ‘Heroes’
May 2, 2016

American “heroes” often were hailed in their time but are viewed differently through the lens of history, as is happening to racist presidents Andrew Jackson and Woodrow Wilson, notes Lawrence Davidson.


By Lawrence Davidson


It seems as though some of the heroes of the United States are losing their bright reputations. It’s just as well, for they are really bad examples for us all. Of course, you might ask, if that is the case, why were they heroes in the first place?

Part of the reason might be that the negative nature of their attitudes and actions was simply not widely known, owing to both the primitive state of communication and the prevailing racist ideologies of their times.

Because conditions and outlooks change, the status of many heroes is provisional – admired in a specific place and a relatively limited time. The American heroes I am thinking of may well have seemed exemplary for their day. However, by today’s standards those times were marked by open bigotry and imperial/colonial ambitions. Let’s hope that we are outgrowing such attitudes.

Consider past luminaries associated with political office and the exercise of power. Despite their celebrated actions, their social attitudes are anathema by modern standards. Thus, while some may still see them as heroes, others certainly have come to see them as scoundrels. That is not the sort of balance that promotes a permanently heroic reputation. Standards change and so does the balance of perceptions. ...............(more)

https://consortiumnews.com/2016/05/02/reassessing-american-heroes/





Charlie Munger says we're starting to look like Japan, and that could be trouble


Berkshire Hathaway Vice-Chairman Charlie Munger said Monday the U.S. is looking more like Japan given the prolonged low-interest-rate environment.

"I strongly suspect it was massively stupid for our government to rely so heavily on printing money and so lightly on fiscal stimulus and infrastructure," Munger told CNBC's "Squawk Box."

Japan has struggled mightily to come off its economic funk and, earlier this year, in an unprecedented move the Bank of Japan implemented negative interest rates.

"It surprised all the economists of the world," Munger said. ...............(more)

http://www.cnbc.com/2016/05/02/charlie-munger-says-were-starting-to-look-like-japan-and-that-could-be-trouble.html





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