Steve Case’s startup Revolution Money announced a series C funding today of $42 million led by Goldman Sachs. Case and other existing investors (Citigroup, Morgan Stanley, former AOL vice chairman Ted Leonsis, former Charles Schwab CEO David Pottruck, and JP Morgan vie chairman David Golden). That is on top of $50 million the company raised is September, 2007.
The company is using the Internet to lower the cost of credit card charges and payment transfers, charging merchants only a 0.5 percent transaction fee instead of credit card fees which can be four to eight times as high. Revolution Money has done a good job signing up banks and merchants to accept its credit card and online payment service, but it is not so clear how good a job it is doing actually signing up customers. In tandem to its regular credit card, it also operates Revolution MoneyExchange, an online payment processing service that is trying to compete with Paypal. MoneyExchange is basically a loss leader to get people to sign up for the credit card. The problem is that nobody is really using MoneyExhange.
Only 33,000 people in the U.S. even visited the site in February, down from a marketing-fueled high of 742,000 a year before in March, 2008, according to comScore. Hopefully, it’s found another way to sign up customers, and I’m not talking about Washington Capitols hockey fans (Leonsis owns the hockey team and is trying to get fans to pay for tickets with Revolution Money credit cards). The company must be signing up tons of new cardholders through more traditional marketing techniques. Right? I have an e-mail into Revolution Money asking for more details.
Update: The company won’t disclose how many consumers have signed up for a card. The only number they will share is that MoneyExchange has signed up 400,000 registered users since inception, which doesn’t account for people who tried it once to never return again.
Source: TechCrunch
Monday, April 6, 2009
Broadway's "Gypsy Robe"
Tradition has always been part of the theatre. The Gypsy Robe is just one more, for the singing and dancing chorus in a Broadway musical. First let me define what the word “Gypsy” has to do with Broadway. Members of the singing and dancing chorus, if they are lucky, go from one show to another, never staying in a show forever. If they are in a touring company, they live out of their suitcases. They feel like the gypsies of old.The Gypsy Robe tradition started October 12, 1950, when Call Me Madam, starring Ethel Merman, opened on Broadway. At the time, Gentleman Prefer Blondes was New York’s long-running smash hit of the day. Hoping to relieve the opening night jitters for the cast of Call Me Madam, a dancer in the company of Gentlemen Prefer Blondes sent a tacky dressing gown to a dancer in Call Me Madam with a note, “That this Legendary ‘gypsy robe’ has been in the theater for generations and brought with it great good luck.” Call Me Madam was a great success. A rose from Ms. Merman’s gown was added to the robe and it was sent to the next Broadway musical’s opening night.
Since 1950, with many hits and misses, many robes have seen their day. The old robes are not discarded. One is in the Smithsonian Institute’s National Museum of American History. Some of these robes can be seen at the Dance Division of the New York Public Library and one is on constant display at the office of Actors’ Equity. The others are stored and in the good hands of Terry Marone, protector of the robe and the tradition.
According to Terry Marone, in recent times a ceremony is performed with every new opening. On opening night of a new musical this ritual takes place. The robe is presented to the gypsy chorus member with the most Broadway credits.
The Rules of the Gypsy Robe
The Gypsy Robe brings good luck to a new Broadway musical. To keep the tradition going the rules must be followed.
1. The Gypsy Robe goes only to Broadway musicals with a chorus.
2. The robe goes to a chorus member only, the one with the greatest number of Broadway credits.
3. It is to be delivered one-half hour before the opening night curtain to the member selected.
4. The new recipient must put on the robe and circle the stage three times while each cast member reaches out and touches the robe. Then the new owner of the robe must visit each dressing room while wearing the robe.
5. The new recipient will then add a memento from the show to the robe.
6. The opening night date is written on the robe near the memento and the cast members only sign that section of the robe. A robe will represent 20 shows.
7. The new owner of the robe must determine when the next Broadway musical is opening and, through Equity, locate the gypsy with the most musical credits. It will be their responsibility to deliver the robe to the next Broadway musical’s opening night.
This tradition has been going for over 50 years and many, many Broadway musicals have come and gone.
The above information comes from Actors’ Equity Association
Source: Momeniti
Red Sox 2009 Opening Day Postponed WTF!
Game postponed, guys. No Opening Day today. Why stop there? Season's over. Cancel it. Go home. Don't come back. Go watch soccer or something.
OK, I'm being a tad dramatic. But this really sucks. I'm all ready for Opening Day. I'm wearing my Dustin Pedroia shirt, I cleared off my schedule and I was mentally ready for baseball. And now, before 10 a.m. even hits, the game has been postponed.
Crap-tastic.
Tomorrow, though, will be Opening Day. Sox will play the Rays at 4:05 p.m. ... right when I have stuff to do.
Feel free to vent in the comments.
Source: OverTheMonster
Mike Mayo Says Loans will Exceed The Great Depression
April 6 (Bloomberg) -- Mike Mayo, who left Deutsche Bank AG to join Calyon Securities, assigned an “underweight” rating to banks on expectations that loan losses will exceed levels from the Great Depression.
“While certain mortgage problems are farther along, other areas are likely to accelerate, reflecting a rolling recession by asset class,” Mayo wrote in a report today. “New government actions might not help as much as expected, especially given that loans have been marked down to only 98 cents on the dollar, on average.”
The 46-year-old Mayo gained a reputation for independence at Deutsche Bank for his willingness to put a “sell” rating on banks and to criticize investors and companies for trying to curb objective analysis. At Deutsche, Mayo had “sell” or “hold” ratings on all 18 companies he covered, according to data compiled by Bloomberg.
Mayo said in the report that he expects loan losses to increase to 3.5 percent by the end of 2010. Mortgage-related losses are about halfway to their peak, while credit card and consumer losses are only one-third of way to their expected highest levels, Mayo wrote.
The changes to mark-to-market accounting rules will impact banks’ balance sheets by one-third or less and will have no impact on the economics of bank troubles, Mayo wrote. Banks committed the “seven deadly sins” of banking in trying to compensate for lower natural growth rates and will now feel the costs of those actions, Mayo wrote.
Mayo gave “sell” ratings to BB&T Corp., Fifth Third Bancorp, KeyCorp, SunTrust Banks Inc. and U.S. Bancorp, while “underperform” ratings were assigned to Bank of America Corp., Citigroup Inc., Comerica Inc., JPMorgan Chase & Co., PNC Financial Services Group Inc. and Wells Fargo & Co.
Source: Remington
“While certain mortgage problems are farther along, other areas are likely to accelerate, reflecting a rolling recession by asset class,” Mayo wrote in a report today. “New government actions might not help as much as expected, especially given that loans have been marked down to only 98 cents on the dollar, on average.”
The 46-year-old Mayo gained a reputation for independence at Deutsche Bank for his willingness to put a “sell” rating on banks and to criticize investors and companies for trying to curb objective analysis. At Deutsche, Mayo had “sell” or “hold” ratings on all 18 companies he covered, according to data compiled by Bloomberg.
Mayo said in the report that he expects loan losses to increase to 3.5 percent by the end of 2010. Mortgage-related losses are about halfway to their peak, while credit card and consumer losses are only one-third of way to their expected highest levels, Mayo wrote.
The changes to mark-to-market accounting rules will impact banks’ balance sheets by one-third or less and will have no impact on the economics of bank troubles, Mayo wrote. Banks committed the “seven deadly sins” of banking in trying to compensate for lower natural growth rates and will now feel the costs of those actions, Mayo wrote.
Mayo gave “sell” ratings to BB&T Corp., Fifth Third Bancorp, KeyCorp, SunTrust Banks Inc. and U.S. Bancorp, while “underperform” ratings were assigned to Bank of America Corp., Citigroup Inc., Comerica Inc., JPMorgan Chase & Co., PNC Financial Services Group Inc. and Wells Fargo & Co.
Source: Remington
Minnesota Experiencing High Unemployment in this Recession
St. Paul - The Minnesota Department of Employment and Economic Development (DEED) is extending unemployment insurance (UI) benefits for those who have exhausted both regular UI and Federal Emergency Unemployment Compensation (EUC) benefits.
These benefits become available to those who are paid the last of their EUC benefits for the week ending April 4 or later and are still unemployed. The program provides up to 13 extra weeks of benefits to those who are still seeking work.
"With this extension, unemployed Minnesotans 'could' be eligible for up to 72 weeks of Unemployment Insurance benefits," said DEED Commissioner Dan McElroy. "This provides additional security to people and families affected by unemployment."
To qualify for extended UI benefits, applicants must expand their job search to include work outside their normal occupation, and accept work offered that they are able to perform.
DEED will identify and mail information to Minnesotans who may be eligible as they get close to exhausting their EUC benefits. The first letters were mailed this week.
Source: Kare 11
These benefits become available to those who are paid the last of their EUC benefits for the week ending April 4 or later and are still unemployed. The program provides up to 13 extra weeks of benefits to those who are still seeking work.
"With this extension, unemployed Minnesotans 'could' be eligible for up to 72 weeks of Unemployment Insurance benefits," said DEED Commissioner Dan McElroy. "This provides additional security to people and families affected by unemployment."
To qualify for extended UI benefits, applicants must expand their job search to include work outside their normal occupation, and accept work offered that they are able to perform.
DEED will identify and mail information to Minnesotans who may be eligible as they get close to exhausting their EUC benefits. The first letters were mailed this week.
Source: Kare 11
What is Key Ring Thing? Hot New Item.
The origin of KeyRingThingTM, LLC began in New York City, in the spring of 2005. With the success of loyalty card programs nationwide, there came the byproduct of massive numbers of loyalty, store, club and discount cards that inundated consumers and clogged pocketbooks, wallets, and glove compartments everywhere. As much as they offered, loyalty program cards, stickers, and key ring tags became a pain to carry, and to use. As a result, consumers began declining new cards, and stopped carrying the ones they already had. There were simply too many to carry and keep track of. The resulting problem was that consumers missed out on all the promotions and discounts the store cards offered.
Enter KeyRingThing. KeyRingThing cards were designed and engineered to make carrying and using loyalty cards simple again. And fun, by way of colorful, durable, and convenient cards anyone can use. And in this economy, it's more important than ever that consumers save as much as possible, and take advantage of all the benefits and savings loyalty programs offer. KeyRingThing also addresses the need for a centralized website to consolidate, sign up for, and store loyalty card information online. KeyRingThing.com was borne out of a necessity for a universal website to provide all of these services, and more. Consolidation wizards, links to join new programs, custom password-protected online storage, coupons, promotions, articles, links, industry news - everything is provided in one comprehensive site, free of charge, and is ever-growing to meet the needs of consumers, retailers, and advertisers.
The exceptional advertising opportunity KeyRingThing cards present, also gave way to corporate sponsorships with and without loyalty card programs of their own. The advertising opportunity offers constant exposure, branding, and a call to action with every card, positioned right in consumers pocketbooks and wallets and present at all point of sale transactions. KeyRingThing advertisers and sponsors underwrite the cost of cards for consumers, and are rewarded with "stickiness," "bounce back," and exceptional advertising and overall increased loyalty card program usage in return.
KeyRingThing, LLC is based in Naples, Florida, and is partnering with advertisers, retailers, sponsors and consumers nationwide.
Sunday, April 5, 2009
Celebrity Apprentice: Does Trump use All Detergent
Does Donald Trump use All Detergent for his clothing? It may be so.
After the firing of Dennis Rodman last week on NBC’s Celebrity Apprentice, the remaining competitors are down in the dumps due to the sad nature of Dennis’s departure - the realization that he has a drinking problem. Herschel Walker is hopeful that KOTU can now move forward more successfully. Sickle Cell Foundation of Georgia is the charity that Tionne Watkins has chosen, and which will benefit from the ladies’ win last week. Donald Trump meets with the contestants and informs them that Dennis Rodman will be getting some help for his alcohol abuse issue. He then says he is going to mix up the teams. Joan, Natalie, and Khloe will be joining Clint and Herschel to form the new KOTU. The remaining contestants form the new Athena. Donald introduces two of the executives from ALL Detergent. The challenge is for each team to create a video advertisement for ALL that they believe will go viral on the Internet. Team leaders are chosen: Melissa for Athena, and Clint for KOTU!t reality TV news, please feel free to visit SirLinksALot: Celebrity Apprentice.
(Source: Reality Magazine)
Carrie Underwood loves Mike Fisher at ACM 2009
Carrie Underwood became the first woman since 2001 to be named ACM entertainer of the year – and only the 7th female to win the Academy of Country Music's top honor since it was first handed out in 1970.
"I've had a lot of good moments in the last four years. This one takes the cake!" said a teary-eyed Underwood, her voice cracking onstage Sunday at the 44th Annual Academy of Country Music Awards. "I don't know what to say! I got nothing." But she did remember one important person: Raising her trophy, she yelled, "Mike, baby, I wish you were here!" in a shout-out to her boyfriend, Ottawa Senators hockey player Mike Fisher.
Underwood also took home the award for top female vocalist, a repeat of last year's win.
Earlier at the Las Vegas show, which aired on CBS, fellow young blonde phenom Taylor Swift beat out George Strait, Jamey Johnson, Montgomery Gentry and Underwood for album of the year for Fearless. "I think a lot of people who know me know that if I talk to you for more than five minutes, I'm probably going to write a song about you, so that being said I'd like to thank all the characters in my songs: Abigail, Hey Stephen, Tim McGraw and Romeo,” the 19-year-old said.
Brad Paisley also had something to celebrate. For the third year in a row, the singer accepted the honor of top male vocalist, this time from his home in Tennessee, where he and wife Kimberly Williams-Paisley were expecting their second child, due any day.
"As you can see, we had the baby!" Paisley joked, pointing to the pal sitting next to him, Little Jimmy Dickens – who started his career in the 1930s. "Kind of a Benjamin Button thing!" Thanking the crowd, Paisley said he wished he could be in Vegas for the show, but "I didn't want to take the chance of missing the birth of our next child."
Source: (People.com)
Trace Adkins "Youre Gonna Miss This" 2009
Trace Adkins wins Song of the Year at the 44th Annual Academy of Country Music Awards for "You're Gonna Miss This". "I didn't expect this," he admitted in front of the audience the ACM Awards. "I really didn't." This is Trace Adkins first ACM Award since 1996.
"I have to tell you the truth. This song was recorded by a father whose oldest daughter had just gotten married. It was very personal to me, and I didn't think other people would relate to it the way I did," he said. "So it was put on a greatest hits album as a bonus track -- never gonna be a single, and Mike Dungan called one day and told me it was gonna be a single. And I said, 'Go ahead, but ain't nobody gonna play it.' I'm glad I'm an idiot!"
"I have to tell you the truth. This song was recorded by a father whose oldest daughter had just gotten married. It was very personal to me, and I didn't think other people would relate to it the way I did," he said. "So it was put on a greatest hits album as a bonus track -- never gonna be a single, and Mike Dungan called one day and told me it was gonna be a single. And I said, 'Go ahead, but ain't nobody gonna play it.' I'm glad I'm an idiot!"
Subscribe to:
Posts (Atom)